HomeMy WebLinkAbout952416MORTGAGE 00037?
This Mortgage is made the 14 day of March, 2010, by and between Timothy
Hartnett, a single man, hereinafter referred to as the "Mortgagor and Brandy Taylor,
hereinafter referred to as "Mortgagee
The Mortgagor, for and in consideration of the sum of Thirty Thousand Dollars
($30,000.00) lawful money of the United States and other valuable consideration, loaned
to the Mortgagor by the Mortgagee, the receipt of which is hereby confessed and
acknowledged, does hereby mortgage to the Mortgagee, all of his one -half undivided
interest in and to the following described real property which he co -owns with
Mortgagee situate in the County of Lincoln, State of Wyoming:
Lot 1, River View Meadows Addition to the Town of Alpine within the
SE1 4 of Section 30, T37N, R118W, 6th P.M., according to that plat filed July
2, 1993 as Plat No. 264 -B.
Together with all buildings and improvements thereon, or which may hereafter
be placed thereon; all fixtures now or hereafter attached to said premises; all water and
water rights, ditches and ditch rights, reservoirs and reservoir rights, and irrigation and
drainage rights; and all easements, appurtenances and 'incidents now or hereafter
belonging or appertaining there to; subject, however, to all covenants, conditions,
easements, and rights -of -way, and to mineral, mining and other exceptions,
reservations and conditions of record.
TO HAVE AND TO HOLD the said real and personal property forever, the
Mortgagor hereby relinquishing and waiving all rights under and by virtue of the
homestead exemption laws of the State of Wyoming.
Mortgagor covenants that at the signing and delivery of this Mortgage, said
Mortgagor is lawfully possessed of said personal property; is lawfully seized in fee
simple of said real property, or has such other estate as is stated herein; has good and
RECEIVED 3/8/201 at 1 0:46 AM
RECEIVI 9524
BOOK: 743 PAGE: 377
JEANNE WAGNER
i ininn� ni nni now n1 CM( LVCKA11ACDCD \AN
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lawful right to mortgage, sell and convey all of said property; and warrants and will
defend the title to all of said property against all lawful claims and demands, and that
the same is free from all encumbrances.
However, this Mortgage is subject to the express condition that if the Mortgagor
pays, or causes to be paid, to the Mortgagee the sum of Thirty Thousand Dollars
($30,000.00) together with interest, until paid, according to the conditions of a
Promissory Note of even date herewith, which Promissory Note was executed and
delivered by the Mortgagor to the Mortgagee, which sum or sums of money the
Mortgagor hereby covenants to pay, and until such payment, performs all of the
covenants and agreements herein to be performed by Mortgagor, then this Mortgage
and said note shall cease and be null and void.
Mortgagor and Mortgagee further covenant and agree as follows:
1. Payment. Mortgagor shall pay the indebtedness as herein provided,
and the lien of this instrument shall remain in full force and effect during any
postponement or extension of time of payment of any part of the indebtedness secured
hereby.
2. Prepayments. The Mortgagor shall have the privilege of paying any
principal sum or sums plus accrued interest, in addition to the payments herein
required, at any time without premium or penalty of any kind, and it is understood and
agreed that any such prepayment shall be credited first to interest and the balance to
principal in the inverse order of when due.
3. Transfer of the Property. If all or any part of the property or any interest
herein is sold or transferred by any means by Mortgagor without Mortgagee's prior
written consent, excluding the creation of a lien or encumbrance subordinate to this
Mortgage or a transfer by devise, descent or by operation of law upon the death of a
joint tenant, Mortgagee may, at Mortgagee's option, declare all the sums secured by this
Mortgage to be immediately due and payable. Any delay or failure on the part of the
000399
Mortgagee to demand payment shall not prejudice the Mortgagee's right there to.
Mortgagee shall have waived such option to accelerate if, prior to the sale or transfer,
Mortgagee at Mortgagee's sole discretion, enters into a written agreement with the
person whom the property is to be sold or transferred expressly consenting to such
assumption and setting forth any new terms or conditions of this Mortgage as may be
requested by the Mortgagee in exchange for the Mortgagee agreeing to an assumption
of this Mortgage.
4. Taxes and Assessments. Mortgagor and Mortgagee shall equally
pay all taxes, assessments and other lawful charges levied or assessed against said
property.
5. Maintenance of Property. Mortgagor shall not commit or permit waste,
nor be negligent in the care of said property, and shall maintain the same in as good
condition as at present, reasonable wear and tear excepted, and will do nothing on or in
connection with said property which may impair the security of the Mortgagee
hereunder. Mortgagor shall not permit said property, or any part hereof, to be levied
upon or attached in any legal or equitable proceeding, and shall not, except with the
consent in writing of the Mortgagee, or as is otherwise provided and permitted in this
Mortgage, remove or attempt to remove said improvements or personal property, or
any part hereof, from the premises on which the same are situated.
6. Insurance. Mortgagor and Mortgagee shall keep the improvements now
existing or hereinafter erected on said premises insured against loss caused by the
elements, fire, earthquake, and other calamities, with extended coverage provisions, to
the full insurable value thereof for the term of this Mortgage, and will pay when due all
premiums on such insurance. All insurance shall be carried in responsible insurance
companies licensed in Wyoming The insurance proceeds, or any part thereof, may, at
the option of the Mortgagee, be applied either to the reduction of the indebtedness
hereby secured or used in reconstruction. In the event of foreclosure of this mortgage
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or other transfer of title to the said premises in extinguishment of the indebtedness
secured hereby, all right, title and interest of the Mortgagor in and to any insurance
policies then in force shall pass to the purchaser or grantee.
7. Default. If the Mortgagor defaults in the payment of the indebtedness
hereby secured, for a period of ten (10) days after written notice, or materially impairs
Mortgagee's security interest in any manner, or in case of breach of any covenant or
agreement herein contained, the whole of the then indebtedness secured hereby, both
principal and interest, together with all other sums payable pursuant to the provisions
hereof, shall, at the option of the Mortgagee, become immediately due and payable,
anything herein or in said note to the contrary notwithstanding, and failure to exercise
said option shall not constitute a waiver of the right to exercise the same in the event of
any subsequent default. The Mortgagee may enforce the provisions of, or foreclose, this
Mortgage by any appropriate suit, action or proceeding at law or in equity, and cause to
be executed and delivered to the purchaser or purchasers at any foreclosure sale a
proper deed of conveyance of the property so sold. The Mortgagor hereby grants the
Mortgagee the power to foreclose by advertisement and sale as provided by statute. All
remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity and may be exercised
concurrently, independently or successively. The Mortgagor agrees to pay all costs of
enforcement or foreclosure, including a reasonable attorney fee. The failure of the
Mortgagee to foreclose promptly upon a default shall not prejudice any right of said
Mortgagee to foreclose thereafter during the continuance of such default or right to
foreclose in case of further default or defaults. The net proceeds from such sale shall be
applied to the payment of: first, the costs and expenses of the foreclosure and sale,
including a reasonable attorney fee, and all moneys expended or advanced by the
Mortgagee pursuant to the provisions of this Mortgage; second, all unpaid taxes,
assessments, claims and liens on said property, which are superior to the lien hereof;
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third, the balance due Mortgagee on account of principal and interest on the
indebtedness hereby secured; and the surplus, if any, shall be paid to the Mortgagor.
8. Sufficiency of Foreclosure Proceeds. If the property described herein
is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness
hereby secured, the Mortgagor executing the note or notes for which this Mortgage is
security shall be personally bound to pay the unpaid balance, and the Mortgagee shall
be entitled to a deficiency judgment.
9. Assignment of Rents. If the right of foreclosure accrues as a result of
any default hereunder, the Mortgagee shall at once become entitled to exclusive
possession, use and enjoyment of all property aforesaid, 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, and such possession, rents, issues and
profits shall be delivered immediately to the Mortgagee on request. On refusal, the
delivery of such possession, rents, issues and profits may be enforced by the Mortgagee
by any appropriate suit, action or proceeding. Mortgagee shall be entitled to a Receiver
for said property and all rents, issues and profits thereof, after any such default,
including the time covered by foreclosure proceedings and the period of redemption,
and without regard to the solvency or insolvency of the Mortgagor, or the then owner
of said property, and without regard to the value of said property, or the sufficiency
thereof to discharge the Mortgage debt and foreclosure costs, fees and expense. Such
Receiver may be appointed by any court of competent jurisdiction upon ex parte
application, notice being hereby expressly waived, and the appointment of any such
Receiver on any such application without notice is hereby consented to by the
Mortgagor. All rents, issues and profits, income and revenue of said property shall be
applied by such Receiver according to law and the orders and directions of the court.
10. Notices. All notices, demands or other writing in this Mortgage
provided to be given, made or sent by either party to the other shall be in writing and
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shall be validly given or made only if personally delivered with a receipt obtained from
the person receiving the notice, or sent by certified United States mail return receipt
requested, or if sent by Federal Express or other similar delivery service keeping
records of deliveries and attempted deliveries. Service shall be conclusively deemed
made upon receipt if personally delivered or, if delivered by mail or delivery service, on
the first business day delivery is attempted or upon receipt, whichever is sooner. The
parties mailing addresses are as follows:
Mortgagor:
Mortgagee:
Timothy Hartnett
P. 0. Box 3782
Jackson, WY 83001
Brandy Taylor
P. 0. Box 13036
Jackson, WY 83002
11. Set -off. Mortgagor shall not be entitled to set -off or any similar
rights against amounts secured hereby.
12. Headings. The headings used in this Mortgage are for convenience only
and are not to be used in its construction.
13. Binding Effect and Construction; Amendment. The covenants,
agreements and conditions herein contained shall run with the land and bind, and the
benefits and advantages shall inure to, the respective heirs, devisees, legatees,
executors, administrators, successors and assigns of the parties hereto, and all
subsequent owners, encumbrances, tenants and subtenants of the property. Whenever
used the singular number shall include the plural, the plural the singular, and the use of
any gender shall include all genders. The term "note" includes all notes herein
described if more than one. The terms "foreclosures" and "foreclose" as used herein
shall include the right of foreclosure by any suit, action or proceeding at law or in
equity, or by advertisement and sale of said premises, or in any other manner now or
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hereafter provided by Wyoming statutes, including the power to sell. The acceptance of
this mortgage and the note or notes it secures, by the Mortgagee shall be an acceptance
of the terms and conditions contained therein. This Mortgage may not be changed or
terminated orally. This Mortgage shall be governed by the laws of the State of
Wyoming.
14. Release. Upon payment of all sums secured by this Mortgage,
Mortgagee shall release this Mortgage without charge to Mortgagor. Mortgagor shall
pay all costs of recordation, if any.
15. Waiver of Homestead. Mortgagor hereby relinquishes and waives all
rights under and by virtue of the homestead exemption laws of the State of Wyoming.
IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and sealed
these presents the day and year first above written.
STATE OF WYOMIONG
COUNTY OF LT NCor '1
Timothy Hartnett
The foregoing instrument was acknowledged before me this T day of
March, 2010 by Timothy Hartnett.
WITNESS my hand and official seal. tz
IHEIDI ROBERTS NOTARY PUIL1C'` otary Public
My Commission expires:
COUNTY OF 1 STATE OF y AI
LINCOLN WYOMING
MY COMMISSION EXPIRES OCT. 16, 20/0
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