Loading...
HomeMy WebLinkAbout952271RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: Steven W. Boyce Just Law Office PO Box 50271 Idaho Falls, ID 83405 -0271 347329 DEED OF TRUST RECORDED IN BOOK .1 510 FEES weer SUBLEYT ao COUNTY CLERK QMING (Space Above For Recorder's Use) THIS DEED OF TRUST, made this 21 day of December, 2009, between Roger Linde, "Grantor an individual as his sole and separate property, with a mailing address of P.O. Box 3241, Idaho Falls, Idaho; Steven W. Boyce of Just Law Office, "Trustee whose address is 381 Shoup Avenue, Suite 211, Idaho Falls, Idaho; and Parry and Martha Plisek, "Beneficiary WITNESSETH: That Grantor does hereby irrevocably Grant, Bargain, Sell and Convey to Trustee in Trust, with Power of Sale, that property in the State of Wyoming, consisting of not more than Forty acres in area, described as follows: Property 1: Lots 13 and14 of Block 26 of First Addition to the Town of LaBarge, Lincoln County, Wyoming as described on the official plat thereof. Property 2: Lot 8 of Block 5 of the Eiden Third Addition to the town of Marbleton, Wyoming, Sublette County as describe on the official plat therof. TOGETHER with all the tenements, hereditaments and appurtenances now or hereafter thereunto belonging or in anywise appertaining, and the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority given to and conferred upon Beneficiary to collect and apply such rents, issues and profits for the purposes, and in accordance with the agreements, set forth below. For the Purpose of Securing: 1. Performance of each agreement of Grantor contained in this instrument and in the Promissory Note identified in the paragraph next. 2. Payment of the indebtedness evidenced by a promissory note, entered into concurrently with this Deed of Trust, and any extension or renewal thereof, in the principal sum of Ninety -One Thousand Two Hundred Sixty -Two Dollars and No /100s ($91,262.00), payable to Beneficiary or order and made by Grantor, the final payment of principal and interest thereof, if not sooner paid, to be due and payable pursuant to the terms of the Promissory Note executed contemporaneously herewith. Deed of Trust Page 1 9726 -PL RECEIVED 2/22/2010 at 4:15 PM RECEIVING 952271 BOOK: 742 PAGE: 821 JEANNE WAGNER i iNrni N r(iL JNTY CLERK. KEMMERER. WY C.)06821. 822 3. To secure payment of all such further sums as may subsequently be loaned or advanced by Beneficiary to Grantor while record owner of present interest, for any purpose, and any notes, drafts or other instruments representing such further loans, advances or expenditures together with interest on all such sums at the rate therein provided. Provided, however, that the making of such further loans, advances or expenditures shall be optional with Beneficiary, and provided, further, that it is the express intention of the parties to this Deed of Trust that it shall stand as continuing security until paid for all such loans, advances or expenditures together with interest. To protect the security of this Deed of Trust, Grantor agrees: 1. To keep said property in good condition and repair; not to remove or demolish any building on the property; to complete or restore promptly and in good and workmanlike manner any building which may be constructed, damaged or destroyed and to pay when due all claims for labor performed and materials furnished; to comply with all laws affecting said property or required for any alterations or improvements made; not to commit or permit waste; not to commit, suffer or permit any act upon said property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or use of said property may be reasonably necessary, the specific enumerations stated not excluding the general. 2. To appear in and defend any action or proceeding purporting to affect the security, rights or powers of Beneficiary or Trustee; and to pay all costs and expenses, including cost of evidence of title and reasonable attorneys fees in any action or proceeding in which Beneficiary or Trustee may appear. 3. To pay: at least ten days before delinquency, all taxes and assessments affecting said property; when due, all encumbrances, charges and liens, with interest, on said property or any part which appear to be prior or superior to this Deed of Trust; and all costs, fees and expenses of this Deed of Trust. In addition to the payments due in accordance with the terms of the note hereby secured, Grantor shall, at the option and on demand of Beneficiary, pay each month 1/12 of the estimated annual taxes, assessments, and insurance premiums upon the property, in trust for Grantor's use and benefit and for the payment by Beneficiary of any such items when due. Grantor's failure so to pay shall constitute a default. 4. To pay immediately and without demand all sums expended by Beneficiary or Trustee pursuant to the provisions of this agreement, with interest from date of expenditure at eight per cent (8 per annum. 5. Should Grantor default in performing any term of this agreement, then Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon Grantor and without releasing Grantor from any obligation, may: act or perform in such manner and to such extent as either may deem necessary to protect the property and for such purpose Beneficiary or Trustee are hereby authorized to enter upon said property; appear in and defend or prosecute any action or proceeding purporting to affect the property or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or lien which in the judgment of either appears to be prior or superior; and, in exercising any such powers, or in enforcing this Deed of Trust by judicial foreclosure, pay necessary expenses and employ necessary advisors, accounts and attorneys and pay their reasonable fees. Deed of Trust Page 2 9726 -PL Deed of Trust Page 3 9726 -PL 000823 It is mutually agreed that: 1. Any award of damages in connection with any condemnation for public use of or injury to said property or any part is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received in the same manner and with the same effect as above provided for disposition of proceeds of fire or other insurance. 2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive its right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. 3. At any time, or from time to time, without liability and without notice, upon written request of Beneficiary and presentation of this Deed of Trust and its accompanying note, and without affecting the personal liability of any person for payment of the indebtedness secured hereby, Trustee may: reconvey all or any part of said property; consent to the making of any map or plat; join in granting any easement; or join in any extension agreement or any agreement subordinating this Deed of Trust. 4. Upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed of Trust and its accompanying note to Trustee for cancellation and retention and upon payment of its fees, Trustee shall reconvey to Grantor, without warranty, the property then held. The recitals in any reconveyance shall be conclusive proof of the truthfulness of the facts and matters stated. 5. Upon default by Grantor in payment of any indebtedness secured hereby or in performance of any agreement, all sums secured hereby shall immediately become due and payable at the option of Beneficiary. In the event of default, Beneficiary shall execute or cause the Trustee to execute a written notice of such default and of its election to cause to be sold the property to satisfy the obligations and shall cause such notice to be recorded in the office of the recorder of each county where said real property or any part is situated. Notice of sale having been given as then required by law, and not less than the time then required by law having elapsed, Trustee, without demand on Grantor, shall sell said property at the time and place fixed by it in said notice of sale, either as a whole or in separate parcels and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of United States, payable at time of sale. Trustee shall deliver to the purchaser its deed conveying the property so sold, but without any covenant or warranty expressed or implied. The recitals in such deed of any matters or facts shall be conclusive proof of their truthfulness. Any person, including Beneficiary, may purchase at such sale. After deducting all costs, fees and expenses of Trustee, including cost of evidence of title and reasonable attorneys fees in connection with sale, Trustee shall apply the proceeds of sale to payments of: all sums expended under the terms of this Deed of Trust and its accompanying note not then repaid, with accrued interest at eight percent (8 per annum; all other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled to them. 7. This Deed of Trust applies to, inures to the benefit of, and binds all parties, their heirs, legatees, devisees, administrators, executors, successors and assigns. The term Beneficiary shall mean the holder and owner of the note secured hereby; or, if 000824 the note has been pledged, the pledges thereof. In this Deed of Trust, whenever the context so requires, the masculine gender includes the feminine and /or neuter and the singular includes the plural. 8. Trustee is not obligated to notify any party to this Deed of Trust of pending sale under any other Deed of Trust or of any action or proceeding in which Grantor, Beneficiary or Trustee shall be a party unless such action or proceeding is brought by Trustee. 9. In the event of dissolution or resignation of Trustee, Beneficiary may substitute a trustee or trustees to execute the trust hereby created. When any such substitution occurs the substitute Trustee shall assure the written assignment or substitution is filed for record in the Office of the Recorder of the county in which the property is located. Any substitute Trustee shall have all powers and duties of the Trustee as set for this instrument. 10. Beneficiary may, at its option, declare the entire balance of the secured debt to be immediately due and payable upon the creation of any lien, encumbrance, transfer, or sale, or contract for any of these on the property. However, if the property includes Grantor's residence, this section shall be subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. For the purposes of this section, the term "property" also includes any interest to or in all or any part of the property. This covenant shall run with the property and shall remain in effect until the secured debt is paid in full and this Deed of Trust is released. 11. All notices required by this instrument shall be mailed to the parties at their addresses first above given. 12. This instrument shall be construed in accordance with the laws of the State of Idaho. Deed of Trust Page 4 9726 -PL STATE OF IDAHO ss. County of Bonneville On this 2I day of December, 2009, before me the undersigned, a Notary Public in and for the State of Idaho, personally appeared Roger Linde, known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same. written. IN WITNESS WHEREOF, I have hereunto set my hand the day and year first above Deed of Trust Page 5 9726 -PL 000825 otary Public for Idaho Residing at: 7/9 My Commission expires: