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6010917572
MORTGAGE
00û891
GARY BAUMER and CONNIE BAUMER, husband and wife, Mortgagors, to
secure the payment of One Hundred Fifty - Five Thousand Dollars ($155,000.00) due
with interest thereon at the rate of five percent (5%) per year, for sixty months (60)
months, with a balloon payment of One Hundred Thirty-Three Thousand Four Hundred
Forty-Six Dollars and Eighty-Three Cents ($133,446.83), due on the sixtieth (60th)
month, as evidenced in the promissory note dated February 5, 2009, payable in
accordance with the provisions of that certain promissory note, dated February 5,2009,
hereby mortgages and warrants to the KULINSKI FAMILY TRUST, dated May 1,
2008, Kathryn R. Kulinski, Trustee and their successors or assigns, Mortgagees, of
Lincoln County, Wyoming to-wit:
Lot 87 Plat 12
Star Valley Ranch, Wyoming
SEE ATTACHED DESCRIPTIONS marked as "EXHIBIT' A'.
This Mortgage and the corresponding Note are not assignable to any party on
behalf of the Mortgagor. All sums shall become immediately due and payable in the
event of default, sale, transfer, or assignment of the above-described property to any party
other than the Mortgagors/Makers.
Mortgagors hereby covenant and warrant to maintain, in full effect, property,
casualty and damage insurance on the above-described property during the term of the
Mortgage and corresponding Note. Mortgagors shall name the Mortgagee as the loss
Mortgage
Gary Baumer and Connie Baumer
Kulinski Family Trust
Page 1 of 4 RECEIVED 2/6/2009 at 11 :25 AM
RECEIVING # 945123
BOOK: 114 PAGE: 891
. JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
payee on the policy in the event of damage or destruction of the subject property,
000892
Mortgagors shall provide proof of the existence of said policy to the Mortgagee no later
than the 5th day of February of each year of the term of the Mortgage and Note.
If default occurs in the payment of the indebtedness or in the payment of any
installment thereof, or if default occurs in any of the covenants and agreements hereof,
then the whole indebtedness shall, at Mortgagees' option, become due and payable
forthwith, and Mortgagees may foreclose this mortgage either by advertisement and sale
of the premises as provided by statute, or by an action in equity. Out of the proceeds of
any foreclosure sale, Mortgagees shall retain or receive all sums due to it hereunder, and
costs of foreclosure and sale including attorney fees in an amount equal to ten percent
(10%) of the indebtedness remaining unpaid at the time of such sale, the same to be taxed
as costs in any equitable action brought to foreclose this mortgage.
To fully assure Mortgagees the benefit of the security interests in the premises
granted to it hereunder, Mortgagors hereby assign to Mortgagees all rents hereafter
payable for the use and occupancy of the premises by an person in possession thereof
with Mortgagors' consent. If default occurs in any of the covenants and agreements
herein contained, whether or not Mortgagees elect to foreclose this mortgage on account
thereof, Mortgagees shall at once be entitled, and is hereby authorized, to collect the rents
from the premises and to apply the same to the payment of the indebtedness secured
hereby until such default is remedied,
Mortgage
Gary Baumer and Connie Baumer
Kulinski Family Trust
Page 2 of 4
In the event of foreclosure of this mortgage upon default, Mortgagees shall be
000893
entitled to the possession and enjoyment of the premises and the incident rents, issues,
and profits thereof from the time of such default and for and during the pendency of
foreclosure proceedings and the period of redemption, if any. If Mortgagors should fail
to surrender such possession to Mortgagees promptly upon its request therefore,
Mortgagees may compel delivery thereof by an ejectment action or other civil proceeding
appropriate to that purpose.
Furthermore and in addition to the remedies otherwise provided for in this
mortgage and by law, and as a matter of right, without regard to the solvency or
insolvency of Mortgagors, the value of the premises, or the sufficiency thereof to
discharge the indebtedness and costs of foreclosure and sale, Mortgagees shall be entitled
to a receiver for the premises and the rents, issues and profits thereof from the time of
default to the expiration of any redemptive period provided by law. Such receiver may
be appointed by any court of competent jurisdiction upon ex parte application, without
notice, notice being hereby waived and the appointment of a receiver upon such
application being hereby consented to by Mortgagors.
Hereby releasing and waiving all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
WITNESS my hand this
s-
day of .o(~~U2009.
a;¡ß ~
GA Y MER]
Mortgage
Gary Baumer and Connie Baumer
Kulinski Family Trust
Page 3 of4
000894
~~.. ~¡;~~
CONNIE BAUMER
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
The foregoing instrument was acknowledged before me this ___CJt}j day of
February, 2009, by Gary Baumer and Connie Baumer, husband and wife, Mortgagors.
My Commission Expires: 9 - / G - / /
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NOTARY PUBLIC
~Pi;'f'~tI1P':a"t~.~~i1"\o'''''.'rS'''(, 1''! ~;~~ ~ ~
GLORIA f< UYFr·,s ,.. """""."""''''''"''''''''.'.,'.
I C '._n, NOrAFiY PUBUC;;'~
ounty of C' . j¡
Lincoln "taro of ;b
Wyoming è
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Mortgage
Gary Baumer and Connie Baumer
Kulinski Family Trust
Page 4 of 4