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HomeMy WebLinkAbout876507876507 Date: October 08, 2001 43001(474 PR PAGE 4 38 Do not write /type above this line. For filing purposes only. RETURN TO Farm Credit Services of America, P.O. Box 711 Brad W. Willford PREPARER: Kemmerer, WY 83101 -0711 (800)697 -1033 Farm Credit Services of America REAL ESTATE MORTGAGE For the State of Wyoming Open -End To Secure Present and Future Obligations ant/ Advances Mortgagor(s): Arlo Robert Miller and Dianne M Miller, husband and wife Date of Note 10/08/2001 FORM 5014, Real Estate Mortgage Principal Amount 36,000.00 RECEIVED LINCOLN! COUNTY CLERK 0 N 3: t C 1JEAfiNiv iGNEi'i K EPA t:iEE R ER. WYOMING FORM 5014 (6 -2001) ELEAsi This Mortgiage SEE B80(LL .OF MIMES P00f 2 1 Op Mailing Address: PO Box 257 Afton WY 83110 -0257 The above named Mortgagor(s) in consideration of the advance by Mortgagee of the principal sum specified below, the receipt of which is hereby acknowledged, and any future, additional or protective advances made at Mortgagee's option, hereby sell, convey, and mortgage to Farm Credit Services of America, FLCA, 206 S 19th Street, Omaha, NE 68102 -1745, Mortgagee, its successors and assigns, from the date hereof until all obligations secured hereby are paid in full, the following- described real estate in Lincoln County(ies), Wyoming, to wit: Exhibit "A" attached hereto and made a part hereof. together with all Mortgagor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income, profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended, or renewed by Mortgagor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to in this document as the "property." It is understood and agreed between Mortgagor(s) and Mortgagee that this mortgage is given to secure the repayment in full of the following described promissory note(s), and all future and additional loans or advances, protective or otherwise, which may be made by Mortgagee, at its option, at the request of, and to or for the account of Mortgagor(s), or any of them, for any purpose, plus interest thereon, all payable according to the terms of the note(s) or other instrument(s) modifying the same. Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of THIRTY -SIX THOUSAND DOLLARS 36,000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s). NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. This mortgage will be due January 01, 2016. Mortgagor(s) hereby warrants that Mortgagor(s) holds fee simple title to the above described property, that Mortgagor(s) has good and lawful authority to mortgage the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Mortgagor(s) will warrant and defend the property at Mortgagor's expense against all claimants whomsoever. Mortgagor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Mortgagor(s) and each of_them further covenant and agree with Mortgagee as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon the property or under any lease, perrgit, license, or privilege assigned to Mortgagee as additional security to this mortgage, including those in or on public domain. 2. To insure and keep insured buildings and other improvements, including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Mortgagee. Such insurance will be approved by and deposited with Mortgagee, and endorsed with a mortgage clause with loss payable to Mortgagee. Any sums so received by Mortgagee may be applied in payment of any indebtedness matured or unmatured secured by this mortgage, or at the option of Mortgagee may be used to pay for reconstruction of the destroyed improvements. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail. I/We will obtain and keep flood insurance in force to cover losses by flood as required by Lender and by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same. I/We further agree that Lender is not and will not be liable for -any failure by me /us or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Mortgagee may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s). 4. In the event Mortgagor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Mortgagee, at its option, may make such payments or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) from the date of payment until paid. The advancement by Mortgagee of any such amounts will in no manner limit the right of Mortgagee to declare Mortgagor(s) in default or exercise any of Mortgagee's other rights and remedies. 5. In the event Mortgagee is a party to any litigation affecting the property or the lien of this mortgage, including any action by Mortgagee to enforce this mortgage or any suit in which Mortgagee is named a defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur expenses and advance payments for abstract fees, attorneys fees (to the extent allowed bylaw), costs, expenses, appraisal fees, and other charges Ap 00236837; Primary Customer ID 00073832; CIF 53034 Legal Doc. Date: October 08, 2001 Page 1 and any amounts., duvanced will become part of the principal indebted tibb beuured hereby, be immediately due and payablee am interest at the default rate provided in the note(s) from the date of advance until paid. 6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby assigned to Mortgagee; and Mortgagee is hereby authorized to collect and apply the same in payment of any indebtedness, matured or unmatured, secured by this mortgage. 7. In the event of default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure to perform or observe any covenants and conditions contained herein, in the note(s), loan agreement(s), or other instrument(s), or any. proceeding is brought under any Bankruptcy laws, Mortgagee, at its option, may declare the entire indebtedness secured hereby to be immediately due and payable and the whole will bear interest at the default rate as provided in the notes) and Mortgagee may immediately foreclose this mortgage or pursue any other remedy at law or equity, including foreclosure by advertisement with a power of sale in Mortgagee to the extent provided by applicable law. Delay by Mortgagee in exercising its rights upon default will not be construed as a waiver thereof and any act of Mortgagee waiving any specific default will not be construed as a waiver of any future default. If the proceeds under such sale or foreclosure are insufficient to pay the total indebtedness secured hereby, Mortgagor(s) does hereby agree to be personally bound to pay the unpaid balance, and Mortgagee will be entitled to a deficiency judgment. 8. Upon default, Mortgagee will at once become entitled to exclusive possession, use, and enjoyment of the property and to all rents, issues, crops, profits, and income thereof, from the time of such default and during the pendency of foreclosure proceedings and the period of redemption, the delivery of which may be enforced by Mortgagee by any appropriate suit, action, or proceeding. Mortgagee will be entitled to a Receiver for the property and all rents, issues, crops, profits, and income thereof, without regard to the value of the property, or the sufficiency thereof to discharge the mortgage debt and the foreclosure costs, fees, and expenses. Such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, notice being hereby expressly waived. The Receiver will apply all rents, issues, crops, profits, and income of the property to keep the same in good repair and condition, pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to keep the property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and apply the net proceeds to the payment of the indebtedness secured hereby. Such Receiver will have all the other usual powers of receivers authorized by law and as the court may direct. 9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the obligations secured hereby. Should Mortgagor(s) sell, transfer, or convey the property described herein without prior written consent of Mortgagee, Mortgagee, at its option, may declare the entire indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default. 10. Assignment of, Rents, including Proceeds of Mineral Leases. Mortgagor(s) hereby assigns, transfers, and conveys to Mortgagee all rents, royalties, bonuses, and delay,moheys or other proceeds that may from time to time become due and payable under any real estate lease or under any oil,.gas, gravel, rock; or other mineral lease of any kind including geothermal resources now existing or that may hereafter come into existence, covering the property or any part thereof. All such sums so received by Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee, at its option, may turn over and deliver, to Mortgagor(s) or their successors in interest, any or all of such sums without prejudice to any of Mortgagee's rights to take and retain future sums, and without prejudice to any of its other rights under this mortgage. This assignment will be construed to be .a provision 'for the payment or reduction of the mortgage debt, subject to the Mortgagee's option as hereinbefore provided, independent of the mortgage lien, on the property Upon payment in full of the mortgage debt and the release of this mortgage of record, this assignment will become inoPeratiive akd o'no further force and effect. 11•. This Mortgage constitutes a Security!Agreement with respect to all the property described herein. 12. The covenants.conteined•'(n this mortgage will be deemed to be severable; in the event that any portion of this mortgage is determined to be void or unenforceable, that determination will not affect the validity of the remaining portions of the mortgage. Arlo Robert (SEAL) VI My commission expires STATE OF 1AJy ►1'i COUNTY OF I'--• M tf t On this p/1 day of ('r,- -j 64✓ A4 o eo6A,4-k 1i //ev a t(Q to me known to be the person(s) named in and n u-K/ voluntary act and deed. s s MAST BRADW WILLFORD NOTARY PUBLIC County of a''� State of Lincoln rt•s "yF Wyoming My Commission Expires October 15, 2002 Dianne M Miller INDIVIDUAL BORROWER ACKNOWLEDGMENT 2,0 O) before me, a Notary Public, personally appeared �i unn L 01 /ley Who executed the foregoing instrument, and acknowledged that fr1ey executed the same as 4 (Type name under signature) Notary Public in and for said County and State Ap. 00236837; Primary Customer ID 00073832; CIF 53034 Legal Doc. Date: October 08, 2001 FORM 5014, Real Estate Mortgage Page 2 ON7 Parcel 1 Parcel 2 Exhibit "A" A portion of the NW4NE4 of Section 25, T32N, R119W of the 6th P.M., Lincoln County, Wyoming being a portion of land contained in Warranty Deed recorded in Book 64PR on page '305, to be appended to Warranty Deed No. 432406 recorded in 94PR on page 675 of the records of Lincoln County Clerk, being more particularly described as follows: The true Point of Beginning being an Iron Pipe set marking a Northeast corner of tract of land described in said Book 94PR on page 675, said Pipe being 661.53 feet S0 08'57 "W and 602.96 feet, S89 58'21 "E from the B.L.M. type Monument found marking the Northwest corner of said NW4NE1, said Pipe also being 894.14 feet S42 15'15 "E, from said Monument; thence S89 "E, along. the Easterly prolongation of said tract's particular North line, 64.50 feet to a magnetic PK Nail set at a point in the Swift Creek County Road 12 -137 Right -of- Way; thence S0 13'53 "W, 232.75 feet to an Iron Pipe set marking the Southern most Northeast corner of said tract in Book 94PR on page 675; thence, along said tract's boundary line, the following bearings and distances: N89 58'21 "W, 64.50 feet to an Iron Pipe set and N0 13'53 "E, 232.75 feet, to the True Point of Beginning A portion of the SW4SE4 of Section 24, T32N, R119W of the 6th P.M., Lincoln County, Wyoming being a portion of land contained in Warranty Deed recorded in Book 64PR on page 305, Instrument No. 330537 to be appended to Warranty Deed recorded in Book 94PR on page 675, Instrument No. 432406, being more particularly described as follows: The True Point of Beginning being an Iron Pipe set at a point in the West line of said SW' -*SEa, marking the Northwest corner of the tract of land described in said Warranty Deed recorded Book 94PR on page 675, said point being 375.71 feet N0 35'28 "W, from the B.L.M. type Monument found marking the Southwest corner of said' SW4SE4; thence N0 35'28 "W, along said West line, 950.31 feet to the B.L.M. type Monument found marking the Northwest corner of said SW4SEi; thence N89 51'42 "E, along the North line of'said SW1SE4, 366.60 feet to -an Iron Pipe set; thence S0 35'26 "E, 950.99 feet to an Iron Pipe set; thence S89 58'04 "W, 366.60 feet, to and along the North line of said Tract of land to the True Point of Beginning 440 Parcel 3 Parcel 4 Parcel 5 O8'7' A portion of the NW4SE4 of Section 24, T32N, R119W of the 6th P.M., Lincoln County, Wyoming being more particularly described as follows: BEGINNING at an aluminum cap on Rebar found at a Point in the South line of said NW4SE4, said point being 330.00 feet, N89 °51'42 "E from the B.L.M. type Monument found marking the Marlowe A. Scherbel RLS 5368 1994 location of the Southwest corner (CS1/16) of said NW4SE4; thence NO 34'10 "W, along an East line of the property conveyed from the Austin Warren Revocable Trust to Lincoln County School District No. 2 by Warranty Deed recorded August 6, 1996 in•Book 386PR on page 604 in Lincoln County Clerk's Office, 135.59 feet to an Aluminum Cap on a Rebar found marking a corner of the property above referred; thence N89 51'42 "E, along a South line of said property, 60.00 feet; thence SO 34'10 "E, 135.59 feet, more or less, to said South line of said NW4SE4; thence S89 51'42 "W, along last said South line, 60.00 feet to the POINT OF BEGINNING The South one -half of the Southwest Quarter of the Northeast Quarter (S1SW +NE4) of Section 22, Township 32 North, Range 119 West of the 6th P.M., Lincoln County, Wyoming The North one -half of the Southwest Quarter of the Northeast Quarter (N2SW+NE4) of Section 22, Township 32 North, Range 119 West of the 6th P.M., Lincoln County, Wyoming Together with an easement for ingress and egress for Parcels 4 and 5 described as follows: The South 30 feet of the SE*NE4 of Section 21, Township 32 North, Range 119 West and the South 30 feet of the NW* of Section 22, Township 32 North, Range 119 West, 6th P.M., Lincoln County, Wyoming 441