Loading...
HomeMy WebLinkAbout939072 DONALD I. BISHOP CHARLENE BISHOP UTAH POWER CREDIT UNION 1407 W NORTH TEMPLE #120C SALT LAKE CITY, UTAH 84116 1131 7TH WEST AVE KEMMERER, WYOMING 83101 MORTGAGOR "I" includes each mortgagor above. ö0079~ MORTGAGEE "Y ou" means the mortgagee, its successors and assigns. REAL ESTATE MORTGAGE: For value received, I, DONALD I. BISHOP AND CHARLENE BISHOP, HUSBAND AND WIFE, AS TENANTS BY THE ENTIRETIES, mortgage, grant and convey to you, with power of sale on May 12,2008 the· real estate described below and all rights, easements, appurtenances, rents, leases and improvements and fixtures that may now or at any time Ín the future be part of the property (all called the "property"). 75 PROPERTY ADDRESS: 1131 7TH WEST AVE KEMMERER, WYOMING 83101 LEGAL DESCRIPTION: 1 1 ¡,VI) See Attached Exhibit "A" located in LINCOLN County, State of WYOMING. TITLE: I covenant and warrant title to the property, except for encumbrances of record, municipal and zoning ordinances, current taxes and assessments not yet due and ______.___. __.__._ ------------ __no .____.. ____. ....__. ________... -..--.---...-...----....-----.-----. SECURED DEBT: This mortgage secures repayment of the secured debt and the performance of the covenants and agreements contained in this mortgage and in any other document incorporated herein. Secured debt, as used in this mortgage, includes any amounts I may at any time owe you under this mortgage, the instrument or agreement described below, any renewal, refinancing, extension or modification of sllch instrument or agreement, and, if applicable, the future advances described below. The secured debt is evidenced by (describe the instrument or agreement secured by this mOligage and the date thereof:) _____..__._____ --..------- ---..- .--- "--...---- -------.--------------..-------- ._n_____...____... __.__ .._______ The above obligation is due and payable on May 15,2023, ifnot paid earlier. The total unpaid balance secured by this mortgage at anyone time shall not exceed a maximum principal amount of TWENTY-SEVEN THOUSAND SEVEN HUNDRED FIFTY AND NO/I00 Dollars ($27,750.00), plus interest, and all other amounts, plus interest, advanced under the terms of this mortgage to protect the security of this mOligage or to perform any of the covenants and agreements containcd in this mortgage. D Future Advances: The above amount is secured even though all or part of it may not yet be advanced. Future advances are contemplated and will be made in accordance with the terms of the note or loan agreement evidencing the secured debt and will have pricrity to the same extent as if made on the date this mOl1gage is executed. D Vari~ Rate: The interest rate on the obligation secured by this mortgage may vary according to the terms ofthat obligation. U A copy of the loan agreement containing the terms under which the interest rate may val)' is attached to this mortgage and made a part hereof. -.---------- RIDERS: D Commercial DConstruction D______ --~._-----._-- "... ..._..._~.__..- -.-----.-----.--..-- SIGNA TURES: By signing below, I agree to the terms and covenants contained on pages I and 2 of this mortgage. III an)' instruments evi cing the s c r ebt and in any riders described above and signed by me. I acknowledge receipt of a copy ofthis mOligagc. ----.----- ..-- ACKNOWLEDGEMENTS: STATE OF WYOMING, County of LINCOLN ss: ~ T~i~~~~U1=31çb~~o;~tb~fo=mo bY~~~L~JÇ bD~;~; L ~he~egOin;a~~;u~~n~wle~d~~~~.::~=--= ___-~ _ .-=_ .~= -=::=thi' ----------.-----------------------____., a corporation k:JS nu corporate seal. Individual or Corpormion with Seal Corporation with no Seal Witness my hand and official seal. ~k._ ." _0 _____..__________ ... My Commission Expires: J:~e,12~O ./!L-------. RECEIVED 5/16/2008 at 4:37 PM RECEIVING # 939072 BOOK: 694 PAGE: 796 ,"::: ^ 1\.' I\. 1 J:::. WAGNER LINCOLN COG.'! I I vLERK, KEMMERER, WY MARISA HARTMANN NOTARY PUBUC COUNTY OF ... '.. STATE OF LINCOLN '. . WYOMING MY COMMISSION" FEBRUARY 5,2012 COVENAj\iTS õ00797 1. Payments. I agree to make all payments on the secun:d debt when duc, Unless we agree otherwise, an)' payments you receive from me 01' for my bendil will be applied first to any amounts I owe you on the secured debt exclusive of interest or principal, second, to interest and then to principal. Ifpartial prepflyment of the secured debt occurs for any reason. it willnol reduce or excuse an)' subsequently scheduled payment until the secured debt is paid in ft:11. 2. Claims against Title. I will pay all taxes, assessments, liens, ellcumbrances, lease payments, ground rents, and other charges relating to the property when due. You may require me to provide to you copies of all notices that such amounts are due and the receipts evidencing my payments, I \ViII defend title 10 the property against any claims that would impair the lien of this mortgage. You may require me to assign any rights, claims or defenses which I may haw against parties who supply labor or materials to improve or maintain the propel1y. 3. Insurance. I will keep the propel1y insured under terms acceptable to )OU at m)' expense and for your benefit. This insurance wili include a standard mortgage clause in your favor. You will be named as loss payee or as the insurt:d on allY such insurance policy. Any insurance proceeds may be applied. within your discretion. to either the restoration or rt:pair of the damaged property or to Iht~ secured debt if you require m0l1gage insurance, I agree to maintain such insurance for as long as you require. 4. Property. I will keep the property in good condition and make all repairs reasonably necessary. I will give you prompt notice of an)' loss or damage to the property. 5. Expenses. [ agree to pay all of the expenses you incur, including reasonable attorneys' fees. if I breach any covenants in this 111011gagc 01' in any obligation secured by this m0l1gage, I will pay these amounts to you as provided in Covenant 10 of this mOl1gage. 6. Default and Acceleration. If I fail to make any payment when due or breach any covenants under this mOl1gage, any prior mOl1gage or any obligation secured by this mortgage. you may, at your option, accelerate the maturity of the secured debt and demand immediate rayment, and exercise any other remedy available to you. You may enforce this m0l1gage by exercising any remcdy provided by law, including, but not limited to, the power of sale. You will be entitled to ajudgment for any deticieney as provided by law. If you elect to exercise you power of sale, you will give notice of your intent to foreclose by advertisement and sale as provided by law. You will publish notice ofthe sale and sell the property according to applicable law. The proceeds of the sale will be applied first to the costs and expenses oYthe sale including. but not limited to, reasonable attorneys' fees, then to payment of the secured debt. and tìnally. ifthere is any surplus, to the person(s) legally enti(:,~d to it. 7. Assignment of Rents and Profits and Lender in Possessioll. ! assign to you the rents and protits of the propel1y. Unics~, we hip'e agreed otherwise in writing, I may collect and retain the rents as long as I am not in default. Ifyuu acceiernte this mortgage as provided in paragraph b Oi if I abandonlhe property, you are entitled to enter upon, take posscssion and manage the propel1y. and collect the rents and profits of the prupel1y, either ¡I: person, by agenl or by court appointed receiver, until the expiration of any period of redemption following judicial sale. Except when othclwise direl.:led by the \.:Ourt, an) rents and profits you collect will be applied first to the costs of managing the property and collecting the rents and profits, including, but not limited 10, receivers fees. court costs, and reasonable attorneys' fees, and then to payments of the secured (kbt as provided in Covenant I. 8. Prior Security Interest. I will make payments when due and perform all uther covcnanls under any mortgage. deed oftrus!. or olher security agreement that has priority over this mortgage, I will not mü,1,;.e or permit an)' modifkation 1)1' exlension of any l11ol1gage, deed of trust or other securily interest that has priority over this mortgage or any note or agreement secured thereby without your wrilkn consent. I will promptly deliver to you any notices I receive from any person whose rights in the propel1y have priority over your rights. 9. Leaseholds; Condominiums; Planned Unit Developments. I agree to comply with the provisions of any lease if this m0l1gage is 011 a leasehold. If this mortgage is on a unit in a condominium or a planned unit development. I will perform all of my duties under the covenants. by-laws or regulations of the condominium or planned unit development. . , 10. Authority of Mortgagee to Perform for Mortgagor. If I fail to perform any of m) duties under this mortgage, or any other mortgage, deed of trust, lien or other security interest that has priority over this mortgag\\ you may perform the duties or cause them to be performed. Y Otl may sign my name or pay any amount if necessary for performance. If any construction on the propel1y is discontinued or not carried on in a reasonable manner, you may do whatever is necessary to protect your security interest in the property. Thismay ,include completing the construction. Your failure to perform will not preclude you Ii'om exercising any of your other righb under the law of this mortgage_ Any amounts paid by your to protecl your security 'interest will be secured by this mortgage. Such amounts will be due on demand alld will bear interest ii'om the date of the payment until paid in tiill at the interest rate in etTe<;t ii'om tilllc to timc on the secured debt. 11. Inspection. You may enter the propel1y to inspect it if you give me notice beforehand. The notice must state the reasonable caust: ll1r .'/Our inspection. 12. Condemnation. I assign to you the proceeds of any award 01' claim for damages connected with the condemnation or other taking of all or any part of the property. Such proceeds will be applied as provided in Covenant I. This assignment is subject to the terms of any prior security agreemcnt. 13. Waiver. 8y exercising any remedy available to you, you do not give up your i"ights to later use any other remedy_ 8y not exercising any remedy, if I default, you do not waive your right to 1ater consider the event a default if it happens again. . 14. Joint and Several Liability; Co-Signers; Successors and Assigns Bound. All duties under this mortgage are joint and several. If I sign this mortgage but do not sign the secured debt I do so only to mortgage my intere.."it in the property 10 secure payment of the secured deb,! andhy dO.ing so, I do not agree to be personally liable on the secured debt. I also agree that you and any pm1y to this mortgage may extend, modify or make any other changes in the terms or this mortgage or the secured debt without my consent. Such a change will not release lI1e !i'om the terms of this mortgage. . The duties and benetìts of this mOl1gage shall bind an bendit the slIcçessors and a:,signs orèlther or both of liS. 15. Notice. Unless otherwise required by law. any notice lo me shall be giwn by delivering it Od1Y mailing it by tel1i1ied .mail addressed to,nle at the Property Address or any other address thal I tell YOLl. I will give an)' notice lo you by certilit:d mail to your address on page I ofthislilOltgage, 1'1"10 any olher address which you have designated. Any notice shall be deemed to have been givcn to t~ither ofu~: whcn given ill the manl1l:r stated above. 16. Transfer of the Property or a ßen,efid~llntcrcst in the !\1ortgagor. Ii' all 0;' all)' p,¡rlo[thc property or any interest in it is sold.or transferred without YOll prior written consent, you may demand immediate payment of the seclli"úl debt. You may also demand immediate payment if the morlgagor is not a natural person and a benelicial interest iqJhe mortgagor i~; sold or transrerr~~d. HO\ve\"<T, )',)\1 'nay not demand payment in the above situations if i1 is prohibited by federal law as of the date of this mortgage. 17. Release. Pursuant to law, when I have paid thc secured debl in full. ull underlying agreements have been terminated, and L have mailed to you a written request for the release, you will release this 1ll0l1gage without charge to me within 30 days of your reeeipl of my request for the rr!cnse, ! agree lo pay all costs to record the release. 18. Severability. Any provision or clause of this mOl1gage or any agreemel;t evidendng the secured debl which conflicts with applicable law will nol be effective unless that law expressly or impliedly permits variations by agreement If any provision or clause of this mortgage or an agreement evidencing the secured debt cannot be enforced according to its terllls. this fact will not a1fecUhe entoreeability of the balancc of the Illortgage and the agreement evidencing the secured debt 19, Waiver of Homestead Exemption. J hereby release and waive:lll righlS l:nde;' and l1Y vi;'lue of the homeste~d exemption laws of WYOMING. fiI!3 æ IDS.llle ) ORDER NUMBER: NTL-I873 ð00798 EXHIBIT "A" LOT SEVEN (7) OF BLOCK EIGHT (8) OF THE LINCOLN HEIGHTS 4TH SUBDIVISION TO THE TOWN OF KEMMERER, LINCOLN COUNTY, WYOMING, RECORDED OCTOBER 3, 1977 AT DOCUMENT NUMBER 499086 AND MAP NUMBER 2]6 IN THE OFFICE OF THE CLERK, LINCOLN COUNTY, WYOMING. :\1 ,1.\ C\)I1Hl1ítrncnl (6:'17/06)