HomeMy WebLinkAbout950888Alliance Title Escrow
P.O. Box 1367
Kemmerer WY 83101
6010918574
RECEIVED 12/4/2009 at 2:07 PM
RECEIVING 950888
BOOK: 737 PAGE: 532
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Do not write/type above this line. For filing purposes only.
RETURN TO Farm Credit Services of America, PO Box 878 Bickling, Cheryl L
PREPARER: Casper, WY 82602 (307) 577 -4700
Farm Credit Services of America
REAL ESTATE MORTGAGE
For the State of Wyoming
Open End To Secure Present and Future Obligations and Advances
Date: December 2, 2009
Mortgagor(s):
Eugene K Worton, Trustee for Worton Family Trust dated May 10 1995
Mailing Address: 244 Toms Canyon Rd
Auburn, WY 83111 -8812
The above named Mortgagor(s) in consideration of the extension of credit identified herein and any
future, additional or protective advances made at Mortgagee's option, hereby sell, convey, and
mortgage to Farm Credit Services of America, FLCA, 5015 S 118th Street, Omaha, NE 68137,
Mortgagee, its successors and assigns, from the date hereof until all obligations secured hereby are
paid in full, the following- described real estate in Lincoln County(ies), Wyoming, to wit:
Township 33 North, Range 119 West of the 6th PM, Lincoln County, Wyoming
Section 26: N2NW4, NW4NE4, Excluding the North 4 rods of the N2NW4 and the NW4NE4
Section 27: NE4NE4, Excluding the North 4 rods of the NE4NE4
together with all Mortgagor's right, title, and interest in the property, now or hereafter acquired,
including: all buildings, fixtures, timber, timber to be cut, crops, and improvements now on or hereafter
placed upon the property; all appurtenances, water, water rights, irrigation, and drainage rights; all
rents, issues, uses, income, profits, and rights to possession; all oil, gas, gravel, rock, or other minerals
of whatever nature, including geothermal resources; all personal property that may integrally belong to
or hereafter become an integral part of the real estate whether attached or detached, including any
appurtenances and accoutrements of any structure or residence secured hereby; easements and other
rights and interests now or at any time hereafter belonging to or in any way pertaining to the property,
whether or not specifically described herein; all above and below ground irrigation equipment and
accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the
property, now or hereafter issued, extended, or renewed by Mortgagor(s), any State, the United States,
or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to
in this document as the "property."
It is understood and agreed between Mortgagor(s) and Mortgagee that this mortgage is given to secure
the repayment in full of the following described obligations, regardless of whether Mortgagor(s) is(are)
liable thereon, and all future and additional loans or advances, protective or otherwise, which may be
made by Mortgagee, at its option, at the request of, and to or for the account of Mortgagor(s), the
parties liable under the note(s) or credit agreement(s) or any of them, for any purpose, plus interest
thereon, all payable according to the terms of the note(s), credit agreement(s), or other instrument(s)
modifying the same.
Date of Note(s) or Credit Agreement(s)
12 /2009
Principal Amount
210,000.00
C Ou532
FORM 5014 (6 -2009)
Provided, however, that the total principal indebtedness outstanding and secured hereby at any one
time will not exceed the sum of TWO HUNDRED TEN THOUSAND ($210,000.00), exclusive of interest
and protective advances authorized herein or in the loan agreement(s).
App 453816; CIF 78212; Note 204 041CB Legal Doc. Date: December 2, 2009
FORM 5014, Real Estate Mortgage Page 1
:0 .u533
NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE FURTHER OR
ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL
PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
This mortgage will be due January 1, 2030.
Mortgagor(s) hereby warrants that Mortgagor(s) holds fee simple title to the above described property,
that Mortgagor(s) has good and lawful authority to mortgage the same, that the property is free and
clear of all liens and encumbrances, except encumbrances of record, and that Mortgagor(s) will warrant
and defend the property at Mortgagor's expense against all claimants whomsoever. Mortgagor(s) also
hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and
to the above described property.
Mortgagor(s) and each of them further covenant and agree with Mortgagee as follows:
1. To pay all liens, judgments, or other assessments against the property, and to pay when due all
assessments, taxes, rents, fees, or charges upon the property or under any lease, permit, license, or
privilege assigned to Mortgagee as additional security to this mortgage, including those in or on public
domain.
2. To insure and keep insured buildings and other improvements, including fixtures and attachments
now on or hereafter placed on the property to the satisfaction of Mortgagee, will on demand furnish said
policies or furnish proof of insurance to Mortgagee. Any sums so received by Mortgagee may be
applied in payment of any indebtedness matured or unmatured secured by this mortgage, or at the
option of Mortgagee may be used to pay for reconstruction of the destroyed improvements. Such
insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of
the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by
fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
Mortgagor(s) will obtain and keep flood insurance in force to cover losses by flood as required by
Mortgagee and by the National Flood Insurance Act of 1968, as amended, and by regulations
implementing the same. Mortgagor(s) further agrees that Mortgagee is not and will not be liable for any
failure by me /us or by any insurer, for whatever reason, to obtain and keep this insurance in force.
3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on
the property occupied and in good repair, maintenance, and condition and to neither commit nor permit
any acts of waste or any impairment of the value of the property. Mortgagee may enter upon the
property to inspect the same or to perform any acts authorized herein or in the credit agreement(s).
4. In the event Mortgagor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or
charges or maintain any insurance on the property, buildings, fixtures, attachments, or improvements
as provided herein or in the credit agreement(s), Mortgagee, at its option, may make such payments or
provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the
principal indebtedness secured hereby, be immediately due and payable and bear interest at the
default rate provided in the note(s) or credit agreement(s)from the date of payment until paid. The
advancement by Mortgagee of any such amounts will in no manner limit the right of Mortgagee to
declare Mortgagor(s) in default or exercise any of Mortgagee's other rights and remedies.
5. In the event Mortgagee is a party to any litigation affecting the property or the lien of this mortgage,
including any action by Mortgagee to enforce this mortgage or any suit in which Mortgagee is named a
defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur expenses and
advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses,
appraisal fees, and other charges and any amounts so advanced will become part of the principal
indebtedness secured hereby, be immediately due and payable and bear interest at the default rate
provided in the note(s) or credit agreement(s) from the date of advance until paid.
6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby
assigned to Mortgagee; and Mortgagee is hereby authorized to collect and apply the same in payment
of any indebtedness, matured or unmatured, secured by this mortgage.
7. In the event of default in the payment when due of any sums secured hereby (principal, interest,
advancements, or protective advances), or failure to perform or observe any covenants and conditions
contained herein, in the note(s), credit agreement(s), or other instrument(s), or any proceeding is
brought under any Bankruptcy laws, Mortgagee, at its option, may declare the entire indebtedness
secured hereby to be immediately due and payable and the whole will bear interest at the default rate
as provided in the note(s) or credit agreement(s) and Mortgagee may immediately foreclose this
mortgage or pursue any other remedy at law or equity, including foreclosure by advertisement with a
power of sale in Mortgagee to the extent provided by applicable law. Delay by Mortgagee in exercising
its rights upon default will not be construed as a waiver thereof and any act of Mortgagee waiving any
specific default will not be construed as a waiver of any future default. If the proceeds under such sale
or foreclosure are insufficient to pay the total indebtedness secured hereby, Mortgagor(s) does hereby
agree to be personally bound to pay the unpaid balance, and Mortgagee will be entitled to a deficiency
judgment.
8. Upon default, Mortgagee will at once become entitled to exclusive possession, use, and enjoyment
of the property and to all rents, issues, crops, profits, and income thereof, from the time of such default
and during the pendency of foreclosure proceedings and the period of redemption, the delivery of which
may be enforced by Mortgagee by any appropriate suit, action, or proceeding. Mortgagee will be
entitled to a Receiver for the property and all rents, issues, crops, profits, and income thereof, without
regard to the value of the property, or the sufficiency thereof to discharge the mortgage debt and the
foreclosure costs, fees, and expenses. Such Receiver may be appointed by any court of competent
jurisdiction upon ex parte application, notice being hereby expressly waived. The Receiver will apply all
rents, issues, crops, profits, and income of the property to keep the same in good repair and condition,
pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to keep the
property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and
apply the net proceeds to the payment of the indebtedness secured hereby. Such Receiver will have
all the other usual powers of receivers authorized by law and as the court may direct.
App 453816; CIF 78212; Note 204 041CB Legal Doc. Date: December 2, 2009
FORM 5014, Real Estate Mortgage Page 2
eOu534
9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the
obligations secured hereby. Should Mortgagor(s) sell, transfer, or convey the property described herein
without prior written consent of Mortgagee, Mortgagee, at its option, may declare the entire
indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any
other default.
10. Assignment of Rents including Proceeds of Mineral Leases. Mortgagor(s) hereby assigns,
transfers, and conveys to Mortgagee all rents, royalties, bonuses, and delay moneys or other proceeds
that may from time to time become due and payable under any real estate lease or under any oil, gas,
gravel, rock, or other mineral lease of any kind including geothermal resources now existing or that may
hereafter come into existence, covering the property or any part thereof. All such sums so received by
Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee, at its option, may turn
over and deliver to Mortgagor(s) or their successors in interest, any or all of such sums without
prejudice to any of Mortgagee's rights to take and retain future sums, and without prejudice to any of its
other rights under this mortgage. This assignment will be construed to be a provision for the payment
or reduction of the mortgage debt, subject to the Mortgagee's option as hereinbefore provided,
independent of the mortgage lien on the property. Upon payment in full of the mortgage debt and the
release of this mortgage of record, this assignment will become inoperative and of no further force and
effect.
11. This Mortgage constitutes a Security Agreement with respect to all the property described herein.
12. The covenants contained in this mortgage will be deemed to be severable; in the event that any
portion of this mortgage is determined to be void or unenforceable, that determination will not affect the
validity of the remaining portions of the mortgage.
Worton Famil Trust dated May 10 1995
By
STATE OF
H.LA.RSON
of
(SEAL)
FORM 5014, Real Estate Mortgage
ugene K W rton, Trustee
)ss
COUNTY OF �J
On this 3 day of 0 0? before me, a Notary Public, personally appeared
Eugene K Worton
to me known to be the person(s) named in and who executed the foregoing instrument, and
acknowledged that he executed the same as his voluntary act and deed as such Trustee(s) for the
purposes therein mentioned.
My commission expires
dune 20, [20
TRUSTEE ACKNOWLEDGMENT
Trustee(s) for Worton Family Trust dated May 10, 1995
Ad 0(,,e4,0
(Type name under signature)
D o9 o 1/ Notary Public in and for said County and State
App 453816; CIF 78212; Note 204 041CB Legal Doc. Date: December 2, 2009
Page 3