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HomeMy WebLinkAbout9520576010918626 Alliance Title Fscrnvv P.O Box 1367 Kemmerer WV 8310' RELEASE OF REAL ESTATE MORTGAGE KNOWN BY ALL THESE PRESENTS, That L V INVESTMENTS, does hereby certify that mortgage bearing the date of JANUARY 30, 2006, made and executed by CKJAG PROPERTIES, LLC, A FLORIDA LLC, CHARLES C. AND KAREN RAYSIDE, MEMBERS, as mortgagors to L V INVESTMENTS, LIMITED PARTNERSHIP, as mortgagee conveying certain real estate therein mentioned as security for the payment of $350,000.00 as therein stated, which mortgage was recorded in the office of the County Clerk and Ex- Officio Register of Deed of Lincoln County, State of Wyoming, on JANUARY 31, 2006, in Book 611, at Page 109, Receiving No.: 915631 mortgaging the following described real estate in said County, to wit: See exhibit "A" Attached hereto and by reference made a part thereof Is, with a note secured thereby and the aforementioned debt fully paid, satisfied, released and discharged and in consideration thereof the said mortgagee does hereby release and quit claim unto the said mortgagor the premises thereby conveyed and mortgaged. Witness my had this date: 3"i °9 L V INVES ENTS L IMITED PARTNERSHIP Lance Re 00011'7 RECEIVED 2/8/2010 at 2:56 PM RECEIVING 952057 BOOK: 742 PAGE: 117 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY brriaig Stat f Wyoni mg County orr aou This Instrument was acknowledged before me on r r c_ 9 By LANCE H. REDD as President of L V INVESTMENTS LIMITED PARTNERSHIP. JAMIE E SIMPSON NOTMarPUBx•SUaroraaw 555 EAST 5300 SOUTH 03 OGDEN, UT 04405 COMM. EXP. 07.21.2011 MORTGAGE KNOW ALL MEN BY THESE PRESENTS, that CKJAG PROPERTIES LLC, a Florida limited liability company, Charles C. and Karen Rayside, members, herein referred to as Mortgagor, of 1703 Southwest Boatswain Place, Palm City, Florida, 34990, to secure the payment of the principal sum of Three Hundred Fifty Thousand and No /100 Dollars ($350,000) with interest as evidenced by a Promissory Note dated of even date herewith to the order of L V Investments Limited Partnership, a Utah Limited Partnership, herein referred to as Mortgagee, of PO BOX 1304, Ogden, Utah 84402, principal and interest payable as follows: In equal monthly amortized payments of principal and interest in the amount of $2,558.25 from March 1, 2006 until March 1, 2008 at the rate of 6.25 from March 1, 2008 monthly amortized payments of $2,568.20 until March 1, 2009, from March 1, 2009 monthly amortized payments of $2,654.73 until March 1, 2010, from March 1, 2010 monthly amortized payments of $2,745.20 until March 1, 2011 when the entire remaining balance, including principal and accrued interest, shall be due and payable in full. This represents a 20 year amortization with a five year balloon payment. All payment made shall be applied first to any applicable late charges, then to accrued interest on the unpaid principal balance and then to principal. Prepayments of principal may be made at any time without penalty. CKJAG Properties, LLC, Charles C. Karen Rayside hereby mortgages to Mortgagee, the following described real estate, situated in the County of Lincoln, State of Wyoming: Description: Redd West Remaining A portion of the Redd Brothers property, as referred to in the Deed recorded in Book 579PR, on Page 703, with the Office of the clerk of Lincoln County, Wyoming, within GLO Lot 6, and the SW1 /4SE1 /4 of section 4, and the N1 /2 of GLO Lot 1, and the N1 /2 of the NW1 /4NE1 /4 of Section 9, all in T34N, R119W, of the 6 P.M., Lincoln County Wyoming, the metes and bounds being more described. BEGINNING at a Poin`f -Tn the East line of Section 27, T5S, R46E, of the Boise Meridian, ,Cari ate oun y' Idaho, being the Paul N. Scherbel RLS Kf egSou hwest Corner of said Lot 6; aiast line, 1,317.17 feet to the Lloyd B. Baker n for the Southwest Corner of GLO Lot 5, of said 164, 1980 locatio thence NO X34'54' PE /LS 698,� OJ Section 4; thence S89°26'1y8 "E along the South line of said GLO Lot 5, and the South line of the NW1 /4SE1 /4 of said Section 4, 1,635.87 feet to the Northwest RECEIVED 1/31/2006 at 3:27 PM RECEIVING 915631 BOOK: 611 PAGE: 109 .ygr;.',;,;M JEANNE WAGNER LIr 'is&e: :1 COUNTY CLERK, KEMMERER. WY r 95 C- 0.1•0.9 05f..5631 il✓ JSR61Y�! 1:.' FI'.(::al.ial[T��'•e:A'J!:'•:•: 'f..... corner of Lot 1 of the Freedom Ridge Subdivision, recorded with Instrument No. 883934, on Plat 78 -A, with said Office; thence S00 °34'54 "W, along the West line of said Lot 1, the West line of the Blaine L. Redd property, as referred to in the Deed recorded in Book 579PR, on Page 701, with said Office, and the West line of Lot 4 of said Subdivision 1,079.83 feet to a Point in said West line of said Lot 4; thence S61 °41'04 "W, continuing along said West line, 227.36 feet; thence S0 °E, continuing along said West line, 241.68 feet to a Point in the South line of said Redd Brothers property; thence N89 °23'54 "W, along said South line, 1,440.00 feet to a Point in said East line of said Section 27; thence N0 °57'04 "E,. along said East line, 113.21 feet, to the Point of Beginning, containing 52.39± Acres of land. GRANTING and RESERVING THEREFROM: Freedom Ridge Road, as shown on said Freedom Ridge Subdivision Plat. TOGETHER WITH and SUBJECT TO: All Easements, Exceptions, Reservations, Restrictions, Rights -of -Way and Improvements of sight and or record Including all buildings and improvements thereon or that may hereafter be erected thereon; together with hereditaments and appurtenances and all other rights thereunto belonging, or in anywise now or hereafter appertaining, and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof, and all plumbing heating and lighting fixtures and equipment now or hereafter attached to or used in connection with the premises. Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead laws of the State of Wyoming and covenants that it is lawfully seized of the premises, that they are free from all encumbrances and hereby covenants to warrant and defend the title of the premises against the lawful claims of all persons whomsoever. And Mortgagor covenants with the Mortgagee as follows: 1. In case of default in any of the payments stipulated in the note, mortgagor, as further security for his mortgage and note secured thereby hereby assigns, sets over and conveys to mortgagee all rents, issues, and profits from the property. 2. To pay promptly, when due, the principal and interest and other sums of money provided for in said Note and this Mortgage, or either, to pay all singular the taxes assessments, levies, liabilities, obligations and encumbrances of every nature on said property. 1 v ccccuraza: cMV.: 1: 14! •�n•.• i1L'i: ...7 `•!e•:' v.medru4rd w, w 3. To perform, comply with, and abide by each and every the agreements, stipulations, conditions, and covenants, set forth in said Note and this Mortgage or either. 4. Failure by the Mortgagee to exercise any of the rights or options herein provided shall not constitute a waiver of any rights or options under said Note or Mortgage accrued or thereafter accruing. 5. Nothing shall be done on or in connection with the property that may impair Mortgagee's security hereunder, mortgager will commit, permit or suffer no waste, impairment or deterioration of the property nor any part thereof, and the property shall be continuously maintained in good and sightly order, repair and condition by Mortgagor at his expense. 6. In case Mortgagor defaults in the payment of ground rents, if any taxes, assessments water, or other governmental or municipal charges, or other lawful charges as herein provided, Mortgagee may without notice or demand pay the same and in case of any failure on the part of Mortgagor to comply with the covenants of Paragraph 5 hereof, Mortgagee may effect such repairs as it may reasonably deem necessary to protect the property, at the expense of Mortgagor. Mortgagor shall repay such sums so paid and all expenses so incurred by Mortgagee, with interest thereon from date of payment, at ten percent (10 per annum, and the same shall be a lien on the premises and be secured by the note and these presents; in default of making such repayments the whole amount hereby secured if not then due shall, of Mortgagee so elects, become due and payable, forthwith, anything herein contained to the contrary notwithstanding. 7. In the even the property is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness secured hereby, Mortgagor binds himself personally to pay the unpaid balance, and Mortgagee will be entitled to a deficiency judgment. 8. In case default is made in the payment, when due, of the indebtedness hereby secured, or of any installment thereof or any part thereof, or in the case of breach of any covenant or agreement herein contained, the whole of the then indebtedness secured hereby, inclusive of principal, interest arrearages, ground rents, if any taxes, assessments, water charges, expenditures for repairs or maintenance, together with all other sums payable pursuant to the provisions hereof, shall become immediately due and payable, at the option of mortgagee although the period above limited for the payment thereof may not have expired, anything herein before or in the note contained to the contrary notwithstanding; any failure to exercise such option shall not constitute COq:pl2® 4, M 5 63t 000121 a waiver of the right to exercise the same at any other time: and it shall be lawful for mortgagee to proceed to enforce the provisions of this mortgage either by suite of law or in equity, as it may elect, or to foreclose this mortgage by advertisement and sale of the premises, at public auction for cash, according to Wyoming statutes governing mortgage foreclosures, and cause to be executed and delivered to the purchaser or purchasers at any such sale a good and sufficient deed or deeds of conveyance of the property so sold, and to apply the net proceeds arising form such sale first to the payment of the costs and expenses of such foreclosure and sale, including a reasonable attorney fee, and in payment of all moneys expended or advanced by mortgagee pursuant to the provisions of Paragraph 6 hereof, and then to the payment of the balance due on account of the principal indebtedness secured hereby, together with the interest thereon and any surplus if any, shall be paid by mortgagee on demand to mortgagor. In case mortgagee fails promptly to foreclose on the happening of any default, it shall not thereby be prejudiced in its right to foreclosure at any time thereafter during which such default continues, and shall not be prejudiced in its foreclosure rights in case of further default. 9. In case of any default whereby the right of foreclosure occurs hereunder, mortgagee shall at once become entitled to exclusive possession, use and enjoyment of all property, and to all rents, issues and profits thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of redemption, if there is any, and such possession, rents, issues and profits shall at once be delivered to mortgagee on request, and on refusal the delivery of such possession, rents, issues and profits may enforced by mortgagee by an appropriate civil suit or proceeding, including action or actions in ejectment or forcible entry, or unlawful detainer, and mortgagee shall be entitled to a receiver for the property and all rents, issues, and profits thereof, after any such default, including the time covered by foreclosure proceedings and the period of redemption, if there is any, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of mortgagor or the then owner of the property, and without regard to the value of the property or the sufficiency thereof to discharge the mortgage debt and foreclosure costs, fees and expenses; and such receiver may be appointed by any court of competent jurisdiction ex parte application and without notice (notice being hereby expressly waived, and the appointment of any such receiver on any such application without notice being hereby consented to by mortgagor or mortgagors own behalf), and all rents, issues, profits, income, and revenue of the property shall be applied by such receiver, according to law and the orders and directions of the court. 10.Mortgagor may not convey or transfer any interest in or encumber the described premises without the prior written consent of the mortgagee. Mortgagor must give mortgagee written notice of Mortgagor's intent to convey or transfer any interest in or to encumber the described premises at least thirty (30) days prior to the proposed conveyance or encumbrance. If all or any part of the described premises or an interest therein sold, transferred or encumbered by mortgagor without mortgagee's prior written consent, excluding death of a joint tenant or the grant of any leasehold interest of three (3) years or Tess not containing an option to purchase, mortgagee may, at it's option, declare the entire remaining balance due under this agreement to be immediately due and payable and give written notice to mortgagor thereof. After receipt of such written notice mortgagor shall have thirty (30) days in which to pay the entire remaining balance to mortgagee. 11.The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular number shall include the plural, the singular, and the use of any gender shall include all genders. 12. Whenever used herein, the terms "mortgagor" and "mortgagee" include all the parties to this instrument and the heirs, legal representative, and assigns of Individuals, and the successors and assigns of corporations; and the term "Note" includes all the notes herein described if more than one. IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the day of January 2006. CKJAJ` ROPERTIES, LLC by: CHARLE C. R SIDE, Member KAREN RAYSIDE Mernber vs •..�tr,�tarree•::Hrro:nr...:ar.n :�,xtir::.i. STATE OF COUNTY OF &Ai gE�ch The foregoing Mortgage was acknowledged before me, a notary public in and for said County and State, by CKJAG Properties, LLC, a Florida limited liability ompany, by Charles C. Rayside and Karen Rayside, members, this 30 day of January, 2006. Witness my hand and official seal. Eileen Roby I ry Cn nmiceinn DD100483 4t1Ltpires March 14, 2006 Banded V Atka* Bonding CM= My commission expires: iMMarl s 14I a ce 1