HomeMy WebLinkAbout948908RECEIVED 8/13/2009 at 4:20 PM
RECEIVING # 948908
BOOK: 729 PAGE: 809
When recorded mail to: JEANNE WAGNER
NORTHERN TITLE CO. LINCOLN COUNTY CLERK, KEMMERER, WY
PO Box 856 _ n
Thayne, WY 83127 ~_;4.~V~
REAL ESTATE MORTGAGE
FOR VALUE RECEIVED, DELORES CLEASBY and TODD JAMES CLEASBY,
(collectively the "Mortgagors"), do hereby grant, bargain, sell and convey unto MAFFEI
COMMERCIAL II, LLC, (the "Mortgagee"), the following described premises, in Lincoln County,
Wyoming:
Lots 3, 4, 5 and 6 of Block 61 of Second Addition to the Town of Kemmerer,
Lincoln County, Wyoming as described on the official plat thereof.
TO HAVE AND TO HOLD the said premises, with their appurtenances, unto the said
Mortgagee, its successors and assigns forever.
This conveyance is intended as a mortgage to secure the Promissory Note dated August 12,
2009, in the amount of $90,000.00, plus interest payable to the Mortgagee, with final payment due
September 30, 2014, and providing for acceleration of the due date of the principal for default in the
payment of interest or any installment of principal, and providing for a reasonable attorney's fee in
case of suit of action.
The Mortgagors covenant and agree with the Mortgagee as follows: That they are the
owners in fee simple of the above described premises and that they are free from all encumbrances
except as provided on the conveyance deed to them, and except this Mortgage.
That they will pay the indebtedness hereby secured promptly, according to the terms of said
Promissory Note. That they will pay all taxes, liens and assessments of any nature hereafter levied or
imposed, or becoming payable, upon said premises not later than the twentieth day before
delinquency.
If the Mortgagors shall fail to pay any such tax or lien, the Mortgagee may pay the same, and
all payments by the Mortgagee for any such purpose shall be added to the indebtedness hereby
secured, and shall be repayable on demand, with interest at the rate of twelve percent (12%) per
annum until paid.
If the said Mortgagors shall pay or cause to be paid all moneys which may become due upon
said Promissory Note and shall otherwise comply with the terms and conditions hereof, this
conveyance shall be void; but in case default shall be made in the payment of the indebtedness
hereby herein contained, then the Mortgagee or its assigns, at its option may declare the entire
indebtedness hereby secured immediately due and payable, and foreclose this Mortgage and cause
said mortgaged premises to be sold in the manner provided by law, and out of the moneys arising
from such sale retain principal and interest together with any sums advanced as provided herein,
with interest as aforesaid, together with the costs and charges of such foreclosure suit and sale,
including such sums as the court may adjudge reasonable as an attorney's fee to be allowed the
plaintiff, and the overplus, if any there be, pay over to the Mortgagors, their heirs and assigns.
As additional security, Mortgagors do hereby assign to Mortgagee, during the continuance of this
mortgage, all rents, issues, royalties, and profits of the property affected by this mortgage. Until
Mortgagors default in the payment of any indebtedness secured hereby or in the performance of any
agreement hereunder, and the continuance of such default for the requisite period provided in the
Promissory Note, Mortgagors shall have the right to collect all such rents, issues, royalties, and
profits earned prior to default as they become due and payable. If Mortgagors shall default as
aforesaid, Mortgagors' right to collect any of such moneys shall cease and Mortgagee shall have the
right, with or without taking possession of the property affected hereby, to collect all rents, royalties,
issues, and profits. Failure or discontinuance of Mortgagee at any time or from time to time to
collect any such moneys shall not in any manner affect the subsequent enforcement by Mortgagee of
the right, power, and authority to collect the same. Nothing contained herein, nor the exercise of
the right by Mortgagee to collect, shall be, or be construed to be, an affirmation by Mortgagee of any
tenancy, lease or option, nor an assumption of liability under, nor a subordination of the lien or
charge of this mortgage to any such tenancy, lease or option.
DATED this. August 12, 2009
JAMES
STATE OF WYOMING )
:ss
COUNTY OF L )
On August 2009, personally appeared before me DELORES CLEASBY, a signer of
the within instrument, who duly acknowledged to me that she executed the same.
11 M I MANN NOTARY PUBLIC
COUNTY OF STATE OF
LINCOLN WYOMING
STATE O1 N )
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COUNTY OF Lin co
VNotary Publi
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My Commission expires:
On August-U- 2009, personally appeared before me TODD JAMES CLEASBY, a
signer of the within instrument, who duly acknowledged to me that he executed the same.
[SEAL]
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MARISAHARTMANN NOTARY PUBLIC
otary Public
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MY Commission expires:
COUNTY OF IV STATE OF
LINCOLN WYOMING
MY COMMISSION EMPIRES FEBRUARY S. 2012