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HomeMy WebLinkAbout8765834 7 4JR PAGF_.- r.'rsi- i1ti:'r 1jp fU rT 1 2 THIS DEED OF TRUST is granted by BRAND 0 LR,Kt,ibi lira 1DRA KLINGLER, hu to BONNEVILLE LAND TITLE CO., an Idaho Corporation, as TRUSTEE, for C. REINHART SON, INC., as ,BENEFICIARY. WITNESSETH: Grantor does hereby irrevocably GRANT, BARGAIN, SELL AND CONVEY TO TRUSTEE IN TRUST WITH POWER OF to wit: Bonneville Land Title Co. Deed of Trust (3N7) Page 1 497 N. Capital Ave P.O. Box 51690 Idaho Falls, ID 83405 -1690* (208) 524 -6600 411Un +.,ar CSC V F' ilia document beim t -A :4 a c t o m a m i a t i o o t o t;,e p e...z ut eapres4y deact r: s rt e accuracy of tit IA VIA tmrt ay and C,. hereby tar t 'ALT Rein fiELEAs c e/o) his :1 e s e ollowing describe as GRANTOR, Lot 112, Nordic Ranches, Division No. 8, to the County of Lincoln, State of Wyoming, according to the recorded plat thereof property, TOGETHER WITH any and all improvements, water and ditch rights, easements, tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining, and any reversion, remainder, rents, issues and profits thereof. For the Purpose of Securing: 1. Performance of each agreement of Grantor herein contained. 2. Payment of the indebtedness evidenced by a promissory note of even date herewith, and any extension or renewal thereof in the principal sum of TWENTY ONE THOUSAND DOLLARS AND NO CENTS ($21,000.00), the final payment of principal and interest thereof, if not sooner paid, to be finally due and payable May 15, 2002. 3. Payment of all such further sums as may hereafter be loaned or advanced by the Beneficiary for any purpose; and any notes, drafts and/or other instruments representing such further loans, advances or expenditures shall be optional with the Beneficiary, and shall become due and payable no later than the final maturity date of said note secured hereby; and provided further, that it is the express intention of the parties to this Deed of Trust that it shall stand as continuing security until paid all such loans, advances or expenditures together with interest thereon. A. To protect the security of this Deed of Trust, Grantor covenants and agrees: 1. To keep said property in good condition and repair; to not remove or demolish any building thereon; to complete or restore promptly and in a good workmanshiplike manner any improvement which may be constructed, damaged or destroyed thereon; to pay when due all claims for labor performed and materials furnished thereto or therefor; to comply with all laws affecting said property or requiring any alterations or improvements to be made thereon; to not commit or permit waste thereof or thereon; to not commit, su or permit any act upon said property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or use of said property may be reasonably necessary, the specific enumerations herein not excluding the general. 2. To provide, maintain and deliver fire insurance satisfactory and with loss payable to Beneficiary. The amount collected under any fire or other insurance policy may, at Beneficiary's option and determination, be applied upon any indebtedness secured hereby in such order as Beneficiary determines, be released to Grantor in whole or part, or any combination thereof. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. 3. To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; and to pay all costs and expenses, including cost of title evidence and any reasonable attorney's fees, in any such action or proceeding which Beneficiary or Trustee may appear. 4. To pay at least ten days before delinquency all taxes and assessments affecting said property; to pay when due all encumbrances, charges and liens, with interest, affecting said property which are or may appear to be prior or superior hereto; and to pay all costs, fees and expenses of this Trust. In addition to the payments due in accordance with the terms of the note hereby secured, the Grantor shall, at the option and on demand of the Beneficiary, pay each month one- twelth (1/12) of the estimated annual taxes, assessments, insurance premiums, maintenance and other charges upon the property, nevertheless in trust for Grantor's use and benefit and for the payment by the Beneficiary of any such items when due. Grantor's failure to so pay shall constitute a default under this trust. 5. To pay immediately and without demand all suns expended by Beneficiary or Trustee pursuant to the provisions hereof with interest from date of expenditure, at a rate equal to the interest rate payable under the promissory note described above or twelve percent (12 per annum, whichever is greater. 6. Should Grantor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so to do and without notice or demand upon Grantor and without releasing Grantor from any obligation hereof may: make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof Beneficiary or Trustee being authorized to enter upon said property for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or lien which in the judgment of either appears to be prior or superior hereto; and in exercising any such powers or in enforcing this Deed of Trust by judicial foreclosure or otherwise, pay the necessary expenses, costs and reasonable attorney's fees. B. It is mutually agreed: 1. Any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof, is hereby assigned and shall be paid to Beneficiary who may apply or release such monies received by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or other insurance. 2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. 3. At any time or from time to tine, without liability therefor and without notice, upon written request of Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the personal liability of anyperson for payment of the indebtedness secured hereby, Trustee may: reconvey all or any part of said property; consent to the making of any map or plat thereof join in granting any easement thereon; or join in any extension agreement or any agreement subordinating the lien or charge hereof 4. Upon written request of Beneficiary stating that all sums secured hereby have been paid, surrender of the note aforedescribed and this Deed to the Trustee for cancellation and retention, and upon payment of the Trustee's fees, Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in any reconveyance executed hereunder of any matters or facts shall be conclusive proof of the truthfulness thereof The Grantee in such reconveyance may be described as "the person or persons legally entitled thereto 5. As additional security, Grantor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance of these Trusts, to collect the rents, issues and profits of said property as they become due and payable; Reserving however unto Grantor, prior to any default by Grantor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, the right to collect and retain such rents, issues and profits. Upon any such default, Beneficiary may at any time without notice, either in person, by agent or court appointed receiver, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said property or any part thereof in his own name sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney's fees, upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking possession of said property, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default hereunder or invalidate any act done pursuant to any such default notice. 6. Upon default by Grantor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, all sums secured hereby shall immediately become due and payable at the option of the Beneficiary. At the option of Beneficiary, the Beneficiary may enforce the obligations of this Deed, of Trust, or the obligations of the Grantor secured hereby, through any and all means authorized under the laws of the State of Idaho. 7. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action' orproceeding in which Grantor, Beneficiary or Trustee shall be a party. 8. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their heirs, devisees, personal representatives, successors and assigns. The term Beneficiary shall mean the holder and owner of the note secured hereby; or if the note has been pledged, the pledgee thereof In this Deed of Trust, wherever the context so requires, the masculine' gender includes the feminine and/or neuter, and the singular number includes the plural. 9. DUE ON SALE: This loan is personal to Grantor and is not assignable. In making it, Beneficiary has relied on Grantor's credit, Grantor's interest in the trust property, and financial market conditions at the time this loan is made. If Grantor transfers, or contracts to transfer, title to or possession of, all or part of the property, or any equitable interest therein, whether by deed, contract for deed, assignment, lease for a tern: in excess of one year, lease an option to purchase, option to purchase, or shnilar agreement, Beneficiary may declare all sums under any note(s), agreement(s) and/or security instrument(s) associated herewith immediately due and payable. Noncompliance with the terms and conditions of this paragraph shall constitute and be a default of this obligation from which there shall be no redemption or cure and which default shall entitle Beneficiary to effectuate any and all remedies provided in any note(s), agreement(s) and/or security instrument(s) associated herewith. Dated: Brandon Klingler STATE OF c_1.4-:44— COUNTY OF On q ���.la bifore me, the undersigned, personally appeared Brandon Klingler and Kendra Klingler known or identified to me to be the person(s) whose name(s) is /are subscribed to the withinlinstrument, and acknowledged to me that he /she /they executed the same. Notary Public for the State of Commission Expiration Date: LANE R. ARCHIBALD NOTARY PUBLIC T-- STATE OF IDAHO i Deed of T nn ,sr (3N Page 2 ss Kendra Klingler Bonneville Land Title Co. 497 N. Capital Ave P.O. Box 51690* Idaho Falls, ID 83405-1690* (208) 524 -6600 Alm IP REQUEST FOR FULL RECONVEYANCE (To be used only when note has been paid) 663 The undersigned is the legal owner and holder of all indebtedness secured by the within Deed of Trust. Al! sums secured have been fully paid. You are hereby requested and directed to cancel all evidences of indebtedness secured by said Deed of Trust and to reconvey, without warranty, the estate now held by you under the same. THE PROMISSORY NOTE OR NOTES, AND EVIDENCES OF FURTHER AND /OR ADDITIONAL ADVANCES MUST BE PRESENTED WITH THIS REQUEST. Please deliver Reconveyance to Note Owner(s) the following: