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HomeMy WebLinkAbout944607 RECORDING REQUESTED BY AT MAILING ADDRESS: Noran M. and Carol L. Ruden 16500 Toll Road Reno, NV 89521 WHEN RECORDED MAIL TO: Noran M. and Carol L. Ruden 16500 Toll Road Reno, NV 89521 RECEIVED 1/12/2009 at 9:58 AM RECEIVING # 944607 BOOK: 712 PAGE: 666 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY COô¡GG APN: DEED OF TRUST THIS DEED OF TRUST, made and entered into this ~ day of ~cem.\:)er , 2008, by and between PAUL THOMAS HOLLAND and MELANIE A. HOLLAND, husband and wife, in joint tenancy with right of survivorship, hereinafter referred to as "Trustors"; ALLIANCE TITLE & ESCROW CORP., hereinafter referred to as "Trustee"; and, NO RAN M. RUDEN and CAROL L. RUDEN, husband and wife, in joint tenancy with right of survivorship, as "Beneficiaries". WIT N E SSE T H: That Trustors do hereby grant unto Trustee, in trust with power of sale, all that certain property situate in the County of Lincoln, State of Wyoming, more particularly described as follows; LOT NUMBER TWENTY-NINE (29), UNIT C-1, COMMISSARY RANCH SUBDIVISION AS SAID LOTS ARE LAID DOWN AND DESCRIBED ON THE OFFICIAL PLAT OF SAID COMMISSARY RANCH SUBDIVISION, Deed of Trust Pa.ge 1 of 3 000G67 DULY RECORDED IN THE OFFICE OF THE COUNTY CLERK AND EX-OFFICIO REGISTER OF DEEDS OF LINCOLN COUNTY, WYOMING, TOGETHER WITH ALL IMPROVEMENT THEREON, AND EASEMENTS, APPURTENANCES AND INCIDENTS BELONGING OR APPERTAINING THERETO, OR USED IN CONNECTION THEREWITH. SUBJECT, HOWEVER, TO ALL MINING, MINERAL AND OTHER EXCEPTIONS, RESERVATIONS, COVENANTS, CONDITIONS AND RIGHTS-OF-WAY OF RECORD. TOGETHER with all the singular the tenements, hereditaments, and appurtenances thereunto belonqinq or anywise appertaining, and the reversion and reversions remainder and remainders, rents, issues and profits thereof. TO HAVE AND TO HOLD the same unto Beneficiaries and their successors, for the purpose of securing a certain Promissory Note of even date herewith in the principal sum of FORTY THOUSAND DOLLARS ($40,000.00), with interest thereon, and with expenses and attorney fees according to its terms, executed and delivered by Trustors to Beneficiaries. The covenants set forth in Exhibit "A", are hereby adopted and made a part hereof. All provisions of this instrument shall inure to, apply to and bind the heirs, executors, successors and assigns of all the parties hereto. Whenever used, the singular number shall include the plural, the plural the singular, and use of any gender shall include all other genders. III Deed of Trust Page 2 of 3 III 000668 IN WITNESS WHEREOF, Trustors have executed these presents the day and year first hereinabove written. V:~ikn/1.!5F~ PAUL HOMAS HOLL ND . STATE OF tvYo/l1( \t(1 ss COUNTY OF Llf'll[Vl..I...! On this 2~ day of u__D£t£MßEfl. 2008, before me, a Notary Public in and for the County and State aforesaid, personally appeared PAUL THOMAS HOLLAND, known to me to be the person described in and who executed the foregoing instrument, and who acknowledged to me that he executed the same freely and voluntarily and for the uses and purposes therein mentioned. NJ;V JEFF PEARSON· NOTARY PUBLIC COUNTY OF STAT!! OF UNCOLN WYOMING MY COMMISSION EXPIRES NOVEMBER 13,2011 ~I ~~"- (l.~ MELA IE A. HOLLAND STATE OF LvY0A'!,,\J(l ss COUNTY OF LINCOLN On this 23 day of O~C~I'1Br(2. 2008, before me, a Notary Public in and for the County and State aforesaid, personally appeared MELANIE A. HOLLAND, known to me to be the person described in and who executed the foregoing instrument, and who acknowledged to me that she executed the same freely and voluntarily and for the uses and purposes therein mention STATE OF WYOMING MY COMMISSION !:XPIRES NOVEMBER 13,2011 JEFF PEARSON· NOTARY PUBLIC COUNTY OF UNCOLN Deed of Trus t Page 3 of 3 ouubG9 1. Covenant No.1. That grantor agrees to pay and discharge at maturity all taxes and assessments and all other charges and encumbrances which now are or shall hereafter be, or appear to be, a lien upon the trust premises, or any part thereof; and that he will pay all interest or installments due on any prior encumbrance, and that in default thereof, beneficiary may, without demand or notice, pay the same, and beneficiary shall be sole judge of the legality or validity of such taxes, assessments, charges or encumbrances, and the amount necessary to be paid in satisfaction or discharge thereof. 2. Covenant No.2. That the grantor will at all times keep the buildings and improvements which are now or shall hereafter be erected upon the premises insured against loss or damage by fire, to the amount of at least $ , by some insurance company or companies approved by beneficiary, the policies for which insurance shall be made payable, in case ofloss, to beneficiary, and shall be delivered to and held by the beneficiary as further security; and that in default thereof, beneficiary may procure such insurance, not exceeding the amount aforesaid, to be effected either upon the interest of trustee or upon the interest of grantor, or his assigns, and in their names, loss, if any, being made payable to beneficiary, and may pay and expend for premiums for such insurance such sums of money as the beneficiary may deem necessary. 3. Covenant NO.3. That if, during the existence ofthe trust, there be commenced or pending any suit or action affecting the conveyed premises, or any part thereof, or the title thereto, or if any adverse claim fòr or against the premises, or any part thereof, be made or asserted, the trustee or beneficiary may appear or intervene in the suit or action and retain counsel therein and defend same, or otherwise take such action therein as they may be advised, and may settle or compromise same or the adverse claim; and in that behalf and for any of the purposes may pay and expend such sums of money as the trustee or beneficiary may deem to be necessary. 4. Covenant No.4. That the grantor will pay to trustee and to beneficiary respectively, on demand, the amounts of all sums of money which they shall respectively payor expend pursuant to the provisions of the implied covenants of this section, or any of them, together with interest upon each of the amounts, until paid, from the time of payment thereof, at the rate of six (6) percent per annum. 5. Covenant No.5. That in case grantor shall well and truly perfonn the obligation or payor cause to be paid at . maturity the debt or promissory note, and all moneys agreed to be paid by him, and interest thereon for the security of which the transfer is made, and also the reasonable expenses of the trust in this section specified, then the trustee, its successors or assigns, shall reconvey to the grantor all the estate in the premises conveyed to the trustee by the grantor. Any part of the trust property may be reconveyed at the request of the beneficiary. 6. Covenant No.6. That if default be made in the performance of the obligation, or in the payment of the debt, or interest thereon, or any part thereof, or in the payment of any of the other moneys agreed to be paid, or of any interest thereon, or if any of the conditions or covenants in this section adopted by reference be violated, and if the notice of breach and election to sell, required by this chapter, be first recorded, then trustee, its successors or assigns, on demand by beneficiary, or assigns, shall sell the above-granted premises, or such part thereof as in its discretion it shall find necessary to sell, in order to accomplish the objects of these trusts, in the manner following, namely: The trustees shall first give notice of the time and place of such sale, in the case of any trust agreement coming into force, and may postpone such sale not more than three times by proclamation made to the persons assembled at the . place previously appointed and advertised for such sale, and on the day of sale so advertised, or to which such sale may have been postponed, the trustee may sell the property so advertised, or any portion thereof, at public auction, at the time and place specified in the notice, at a public location in the county in which the property, or any part thereof, to be sold, is situated, to the highest cash bidder. The beneficiary, obligee, creditor, or the holder or holders of the promissory note or notes secured thereby may bid and purchase at such sale. The beneficiary may, after recording the notice of breach and election, waive or withdraw the same or any proceedings thereunder, and shall thereupon be restored to his fonner position and have and enjoy the same rights as though such notice had not been recorded. 7. Covenant No.7. That the trustee, upon such sale, shall make (without warranty), execute and, after due payment made, deliver to purchaser or purchasers, his or their heirs or assigns, a deed or deeds of the premises so sold which shall c~nvey to the purchaser all the title of the grantor in the trust premises, and shall apply the proceeds of the sale thereofm payment, fIrstly, of the expenses of such sale, together with the reasonable expenses of the trust, including counsel fees, in an amount equal to five (5) percent of the amount secured thereby and remaining unpaid, which shall become due upon any default made by grantor in any of the payments aforesaid; and also such sums, if any, as trustee or beneficiary shall have paid, for procuring a search of the title to the premises, or any part ther:0f, subsequent to the execution ofthe deed of trust; and in payment, secondly, of the obligation or debts secured, and I.nterest there?n then remaining unpaid, and the amount of all other moneys with interest thereon herein agreed or. provIded to be p<:ld by grantor; and the balance or surplus of such proceeds of sale it shall pay to grantor, his heirs, executors, adrnmlstrators or assigns. . 8. Covenant No.8. That in the event of a sale ofthe premises conveyed or transferred in trust, or any part the~eof, and the execution of a deed or deeds therefor under such trust, the recital therein of default, and of recording >notlce of breach and election of sale, and of the elapsing of the 3-month period, and ofthe giving of notice of sale, Exhibit "A" OUOb~'U and of a demand by beneficiary, his heirs or assigns, that such sale should be made, shall be conclusive proof of such default, recording, election, elapsing of time, and of the due giving of such notice, and that the sale was regularly and validly made on due and proper demand by beneficiary, his heirs and assigns; and any such deed or deeds with such recitals therein shall be effectual and conclusive against grantor, his heirs and assigns, and all other persons; and the receipt for the purchase money recited or contained in any deed executed to the purchaser as aforesaid shall be sufficient discharge to such purchaser from all obligation to see to the proper application of the purchase money, according to the trusts aforesaid. 9. Covenant No.9. That the beneficiary or his assigns may, from time to time, appoint another trustee, or trustees, to execute the trust created by the deed of trust or other conveyance in trust. A copy of a resolution of the board of directors of beneficiary (if beneficiary be a corporation), certified by the secretary thereof, under its corporate seal, or an instrument executed and acknowledged by the beneficiary (if the beneficiary be a natural person), shall be conclusive proof of the proper appointment of such substituted trustee. Upon the recording of such certified copy or executed and acknowledged instrument, the new trustee or trustees shall be vested with all the title, interest, powers, duties and trusts in the premises vested in or conferred upon the original trustee. If there be more than one trustee, either may act alone and execute the trusts upon the request of the beneficiary, and all his acts thereunder shall be deemed to be the acts of all trustees, and the recital in any conveyance executed by such sole trustee of such request shall be conclusive evidence thereof, and of the authority of such sole trustee to act.