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HomeMy WebLinkAbout942152 KEVIN .1. KERSHNER LISA B. KERSHNER UTAH POWER CREDIT UNION 1407 W NORTH TEMPLE #120C SALT LAKE CITY, UTAH 84116 48 E HILLCREST DlAMONDVILLE, WYOMING 83116 MORTGAGOR "I" includes each mortgagor above. MORTGAGEE "Y 011" means the mortgagee, its successors and assigns. REAL ESTATE MORTGAGE: For value received, I, KEVIN J. KERSHNER AND LISA B. KERSHNER AKA KEVIN JULE KERSHNER AND LISA BRADBURY KERSHNER, HUSBAND AND WIFE., mortgage, grant and convey to YOU, with power of sale on September 8, 2008 the real estate described below and all rights, easements. appurtenances, rents, leases and improvements and fixtures that may now or at any time in the future be part ofthe property (all called the "property"). PROPERTY ADDRESS: RECEIVED 9/10/2008 at 11 :46 AM RECEIVING # 942152 BOOK: 704 PAGE: 541 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY LOTS 14 AND IS OF BLOCK 4 OF THE HILLCREST SUBDlVION TO THE TOWN OF DIAMONDVILLE, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF RECORDED JlINE 4, 1974 AS INSTRUMENT NO. 457178 AND MAP NO. 141, IN THE OFFICE OF THE CLERK, LINCOLN COUNTY, WYOMING. 48 E HILLCREST DlAMONDVILLE, WYOMING 83116 LEGAL DESCRIPTION: 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 __._~____'__________,______ ._'______,_.__,.._,____....___ ----------------.--.-- ----..-------- -..-.------ -----..-.---...--.--.-" SECURED DEBT: This mortgage secures repayment of the secured debt and the performance of the covenants and :;¡gre<:ments contained in this mOligage 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 such instrument or agreement and, if applicable, the future advances described below. The securcd debt is evidenced by (describe the instrument or agreement secured by this mortgage and the date thereof) _____________,_ ----------- ..-.------...... -. -..-------.--... -.-- -------- --_._-~--_._---- ----.--.-------.-.-. The above obligation is due' and payable on September 15,2023, if not paid earlier, The total unpaid balance secured by this 'mortgage at anyone time shall not exceed a maximum principal amount of TWENTY-ONE THOt/SAND FIVE HUNDRED AND NO/l00 Dollars ($21,500.00), plus interest, and all other amounts, plus interest, advançed under the terms of this mortgage to protect the security of this 1n00igage or to perform any ofthe covenants and agreements contained in this mOligage. o Future Advances: The above amount is secured even though all or part of it may not yet be advanced. Future advan~es are contemplated and will be made in accordance with,the terms of the note or loan agreement evidencing the secured debt and will have pril'rity to the same extent as if made on the date this mOligage is executed. D Vari11ili¡ Rate: The interest rate on the obligation secured by this mortgage may vary according to the terms oftha, obligation. U A copy of the loan agreement containing ¡he terms under whìd¡ the interest rate may vary is attached lO this mortgage and made a paJi hereof. RIDERS: D Commercial D Construction D ....::_..._____,_________,____._____, . .._ . __ .._, .__. ...._... _.._ .n_ .._.._ SIGNATURES: By signing below, I agree to the terms and.. covenants contained on pages I. alld 2 of this ])·ntgage. In any in.;;trUl1lelll~; evidencing the se ured debt and in any riders described above and signed by me. I acknowledge receipt of a copy oftl1is mortgage. \"- ACKNOWLEDGEMENTS: STATE OF WYOMING, County of LINCOLN 5S: ( 'ollmrutÍl1l1 with no Seal ~ L T~ fore~ing instrument was ackriowledged before me by __~\J:)-0-,-g-Li_0a..~-..--- , f rl)' '()~.L____ -..----~---..-::l:. __._______. ..__ ____ _______ ..___ _._th i3 lD day of___ue_~.v_eí_ , 2.n()"8 _,_._____.____.__.___.. Individual or ('orporalÌon with SCill -.--_______ day of.._.___ ______n_."_.._____~. The foregoing instrument was a.cknowledged before me by ___ ____ __________'_"n' ________ -----.----,-.-,-..-. ---------.-,-,.. -, -.,-..,-..--..----. --_____,_..,_ ____.___, _..,_..._..,_, _,__ ,__..this .----- --, --.., .-.-.-----.-.--, ----------.-- __, a corporation has no corporate seal. Witness my hand and official seal. ðClim1YVM-..çQ~_t\~_,__,__,_ Notary Public My Commission Expires: -.--__L1.L-¿lJ..\~____... _.___._... SAVANNA L, HAWKES ~ NOTARY PUDllC COUNTY OF STATE Of LINCOLN WYOMING , My Commission Expires 4121/1 \ al,."", . Ins. hl(, COVENANTS 1. Payments. I agree to make all pay:m:nts on the secured debt when due Unless we agree otherwise. any payments you receivt" from nil: or lor m} bcnelìt will be applied tirstto any amounts I owe you on the secured debt exclusive of IIltcrest or principal. second, to interest and then to princÏpal. If partial prepayment or the secured debt occurs For any reason. it will not reduce or excuse ¡¡ny subse.quently ~;çheduled payment until the secured debt is paid in rull. 2. Claims against Title. I will pay all taxes; assessments, liens, encumbrances. Ic¡¡:;e payments, ground rents, and other charges relating lo the property when due, You Illay n::quire me to provide to you copies of all notices that such amoun1s are due and the receipts evidencing my payments. I will defend title to the propel1y against any claims that would impair the jen 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 property. 000542 3. Insurance. I will keep the propel1y insured under terms acccptabk to you at my expense and for your benefit. This insurance will include a standard mortgage clause in your Favor. You will be named as loss payee or as the insured on any such insurance policy. Any insurance proceeds'muy be upplied. within your discretion. to either the restoration or repair of the damaged property or 10 the secured debt if you require mOl1gage insurance, I agree 10 maint¡¡in such insurance for as long us 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 any loss or damage 10 the property. 5. Expenses. I agree to pay all or the expenses you incur, including reasonable attorneys' tees, if I breach any eovcnants in lhi:; mortgagc 'or ,in any obligation secured by this mortgage. I will pay these amounts to you as provided in Covenant 10 ofthis mortgage. 6. Default and Acceleration. If I fail to make any payment when due or breach any covenants under this mOl1gage, any prior 11l0l1gagc or any obligation secured by this mortgage, you may, at your option. accelerate the maturity of thc secured debt and demand immediate payment. anlÌ exercise any other remedy available to you. You may enforce this m0l1gage by exercising any remedy provided by law, including. but not limited to, the power or sale. You will be entitled to ajudgment for any deficiency as provided by law. If you elect to exercise you power of sale. you will give notice of your intenl to fÖreclose by advel1isement and sale as provided by la\\'. You will publish nolice of the sale and sell the property according to applicable law. The proceeds of the sale will be applied first to the costs and expenses of the sale including. but not limited to. reasonable attorneys' fees. then to paymcnt oflhe secured debt. and tinally. if there is any surplus. to the person(s) legally entitled to it. 7. Assignment of Rents and Profits and Lender in Possession. I assign to you the rents and protits of the propel1y. Unless we haY\.: agreed otherwise in writing. I may collect and retain the rents as long as I am not in dctàult. If you accelerate this mOl1gage as provided in paragraph 6 or if'! abandon the property. you are entitled to enter upon. take possession and manage the propeJ1y. ~nd colkcl the rents and profits of the property. either in person. by agent or by court appointed receiver. until the expiration of any period of redemption following judicial sale. Except when otherwise directed by the court. any rents and prolits you collect will be applied first to the costs of managing the property and collecting the rents and profits. including. but not limited to. receivers Ii:e~;. eourl costs. and reasonable attorneys' lees. and then to payments of the secured debt as provided in Covenant I. 8. Prior Security Interest. I will make payments when l~ue lInd perform all other covel~ants under any mortgage. deed oftrust, or other security agreement that has priority over this mortgage. I will not make or permit any modification or extension of any mortgage, deed of trust or other security interest that has priority over this mortgage or any note or agreement secured thereby without your written consent. I will promptly deliver to you any noticès I receive from any person whose rights in the propeJ1y 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 un n leasehold. II' 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. ,)1' :'egulatiolls or 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 othr:r mortgag,:. de'~d or trust, lien or other security interest that has priority over this mortgage. you may pelform the duties or cause them to be performed. You may sign my name or pay lIny amount if necessary for performance. II' any construction on the propel1y is discontinued or not carried on in a reasonable malineI'. YOll may do wImtever is necessar)' to protect your security interest in the property. This may include completing the construction. , ' Your failure to perform will not preclude you !ì'om exercising any of your other rights under the law of this mOJ1gage. Any amounts p¡¡id by YOllr to protect your security inten:st will be Hceured by this morlgage. Such amounts will be due ,>11 demand and will hear interesllÌ'l>l11 the date ofthe payment until paid in ¡lill ¡¡t the interest rute in eft¡~cllì'om time to lime on th~ secured debt. 11. Inspection. Youl11ay cnter the property tt' inspect it if you give me,noti,cc bc/'brehand. The notice must state the re¡¡son¡¡blu cause lÌ1r your ¡nsp~ction, 12. Condemnation. I assign to you the proceeds of any award or claim for dml1ages connected with the condemnation or other taking (.r all or an)' parl of the property, Such proceeds will be applied as provided in Covenant I, This assignment is su~ject to the terms of any prior security a~reement: 13. Waiver. By exercising any remedy available to you, you do nol. give up your rigbb to ¡atcr use any other remedy, ßy ¡wi <;,'.,~rcis¡li& any remedy. ir I default. you do not waive your right to later consider the event a default if it happens again. . 14. Joint and Several Liability; Co-Signers; Successor3und Assigns Bound. All duties under this mortgage are joint und :,cveral. II': sign this Illorlgage bul do not sign the secured dcbt I do so only to mortgage illY interest in the jJroperly to securc paynlent of lhe secured debt ¡lI1d by doing so. I do hot agree to be personally liable on the secured debt. I also agre:e that you and any pm1y to this mortgage may extend, modify or make any other changes in the terms of this m0l1gage or the secured debt without my consent. Such a change wi¡¡not rclease me li'om the terms of this mortgage. The duties and benetits of this mortgage shall bind an benetil'the succe~sors and assigns of either or both of us. 15. Notice. Unless otherwise required by law. an)' notice to me shall be given by. delivering it or by mailing it by ceJ1ilied'mail addressed to me althe Propert)' Address or any other address that I tell you. I will give any notice tÖ ,you by'certified mail to your address on page I of this 'm0l1gage. orttJ any other address which you have designated. , , Any notice shall be deemed to have been given to either of us when given in the manner stated above. 16. Transfer of the Property or a Beneficial Interest in the Mo~tgagor:. If all or any pm1 of the pr~perty or any interest in it is s.old or t;'¡~;lsrerred withoul you prior written consent. you may demm1d immediate payment of the secured debt. You may also demand immediate payment if the, mortgagor is not a natural person and a beneficial interest in the mortgagor is sold or transterl'Cd. However. you may not demand payment in the above situations if it is prohibited by federal law as of the d¡¡te of this mortgage. 17. Release. Pursuant 10 law. when I have paid the secured debt in tlill. all underlying agreements have been terminated. and] have mailed to you a wrillen request for the release. you will release this m0l1gage without charge to me within 30 days of your receipt of my request for the release. ¡ agree to pay ¡¡II costs to record the release. ' , , 18. Severability. Any provision or clause of this m0l1gage or any agreemenl evidencing the secured debt which conflÌl:t5 with applicable law will nol be effective unless that law expressly or impliedly permits variations by agrcemenl. If any provision or clause of this mortgage. or an agreement evidencing the secured debt cannot be enforced according to its terms. this f¡¡ct w¡llnot atl'ecllht' .;nforceability of the balance ofthe mortgage and the agreement evidencing the secured debt. 19. Waiver of Homestead Exemption. I hereby release and waive all rights under and by virtue of the homestead exemption laws orWYOMING. IDS.lnc,