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HomeMy WebLinkAbout955201MORTGAGE 722 KNOW ALL MEN BY THESE PRESENTS, that .Justin C. Visser and Jennifer L. Visser, husband and wife, herein referred to as Mortgagor, of PO Box 701, Thayne, WY 83127, to secure the payment of the principal sum of Four Hundred Thousand and No /100 Dollars ($400,000.00), without interest, as evidenced by a Promissory Note dated of even date herewith to the order of Elaine H. Dana, Trustee of the Charles H. Dana Revocable Trust dated August 8, 1990, herein referred to as Mortgagee, of PO Box 297, Thayne, WY 83127, principal and interest payable as follows: without interest in equal, monthly installments of principal in the amount of $1,333.33 beginning July 1, 2012, and continuing on the same day of every month thereafter until the entire remaining principal balance has been paid in full. All payments made shall be applied first to any applicable late charges and then to principal. Prepayments of principal may be made in any amount at any time without penalty. hereby mortgages to Mortgagees, the following described real estate, situated in the County of Lincoln, State of Wyoming: That part of the NE1 /4 of Section 23, T34N, R119W, within the Incorporated Limits of the Town of Thayne, Lincoln County, Wyoming, it being the intent to more correctly describe a part of that tract of record in the Office of the Clerk of Lincoln County in paragraph (1) in Book 291 PR, page 663, as more particularly described on the attached "DESCRIPTION FOR CHARLES H. DANA REVOCABLE TRUST, DATED 8 AUGUST 1990 DANA STORE TRACT REVISED which is incorporated herein by this reference. TOGETHER WITH that certain Easement dated April 3, 2008, and recorded in the office of the Lincoln County Clerk on May 5, 2008, in Book 693, page 685, the provisions of which are incorporated herein by this reference. SUBJECT TO all easements, exceptions, restrictions, reservations and rights of way of sight or record including without limitation that certain Easement dated April 3, 2008, and recorded in the office of the Lincoln County Clerk on May 5, 2008, in Book 693, page 690, the provisions of which are incorporated herein by this reference. RECEIVED 8/30/2010 at 11:31 AM RECEIVING 955201 BOOK: 752 PAGE: 722 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY And mortgagor covenants with mortgagee as follows: 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 seised 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. 1. In case of default in any of the payments stipulated in the note, mortgagor, as further security for this mortgage and the 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 other sums of money provided for in said Note and this Mortgage, or either; to pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature on said property. 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 the Mortgage accrued or thereafter accruing. 5. Nothing shall be done on or in connection with the property that may impair mortgagee's security hereunder; mortgagor 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. Mortgagor shall obtain, pay for, and continue in force a blanket insurance policy consisting of fire and casualty insurance including earthquake coverage on the building and contents, and personal injury comprehensive liability insurance, during the life of this contract, for the mutual benefit and protection of the parties. Mortgagor shall have mortgagee named as first loss payee on the insurance policies, shall deliver a copy of the policies to mortgagee, shall pay all premiums for the insurance and shall provide mortgagee with annual proof that the premiums have been paid and that the insurance is in full force and effect. 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 the 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 by these presents; in default of making such repayments the whole amount hereby secured if not then due shall, if mortgagee so elects, become due and payable forthwith, anything herein contained to the contrary notwithstanding. 7. In the event 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 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 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 suit at 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 from 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 3 .:'C :l 2S pursuant to the provisions of Paragraph 7 hereof, and then to the payment of the balance due on account of the principal indebtedness secured hereby, together with interest thereon and the 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 be enforced by mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forceable 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 on 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 on mortgagor's 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 is 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 less not containing an option to purchase, mortgagee may, at its 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 4 written notice, mortgagor shall have (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 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 representatives, 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. 2010. IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the 1st day of July, STATE OF WYOMING COUNTY OF LINCOLN ss. The foregoing Mortgage was acknowledged before me by Justin C. Visser and Jennifer L. Visser, husband and wife, this 26th day of August, 2010. Witness my hand and official seal. GERALD L. GOULDING NOTARY PUBLIC County of Lincoln State of Wyoming My G0mmianlcan Expires May 2, 2011 My commission expires: May 2, 2011. 5 Justin C. Visser NOTARY PUBLIC/ ProlessionaI Land Surveyors Paul N. Scherbol Wyo. Registration No 164 Utah Registration No. 1670 Idaho Registration No 9990 Nevada Registation No. 6605 500116. Scherhel Wyo. Registration No. 9669 Idaho Registration No. 6026 UMh Registration No. 972111 MARLOWE A. SCHERBEL Wyo. Regletralion No. 5966 Surveyor Scher6el. UO. Mon, Wyoming Big Piney, Wyoming Jackson, Wyoming 1,001401 Springs, Idaho Montpelier, Idaho DESCRIPTION FOR CHARLES H. DANA REVOCABLE TRUST, DATED 8 AUGUST 1990 DANA STORE TRACT REVISED To -wit: That part of the NE1/4 of Section 23, T34N RI 19W, within the .Incorporated Limits of the Town ofThayne, Lincoln County, Wyoming, it being the intent to more correctly describe a part of that tract of record in the Office of the Clerk of Lincoln County in. paragraph (1) in Book 291 of Photostatic Records on page 663, as follows: BEGINNING at a spike on the west line of said NE' S00 03' -18 "W, 614.32 feet from the northwest corner of said NE' /4; thence S88 47' -41 "E, 290.20 feet to a point on a west line of that tract of record in said Office in Book 281 of Photostatic Records on page 358; thence S00 02' -06 "E, 122.99 feet, along said west line, to the northwest pipe of that tract of record in said Office in Book 189 of Photostatic Records on page 614; thence N88 48' -00 "W, 113.00 feet, along a westerly extension of the north line of said tract, to a point; thence S00 10' -19 "W, 114.21 feet to a point; thence N88 49' -22 "W, 177.16 feet to a spike on the west line of said NE1/4; thence N00 03' -18 "E, 237.29 feet, along said west line, to the SPIKE OF BEGINNING; ENCOMPASSING an area of 1.28 acres, more or less; the BASE BEARING for this survey is the west line of the NE' /4 of Section 23, T34N R1 19W, being N00°-03'-18"E; SUBJECT to an easement for U.S. Highway 89; each "corner" found as described in the Corner Record filed in the Office of the Clerk of Lincoln County; each "spike" marked by a 3/8" X 12" steel spike and referenced by a 5/8" X 24" steel reinforcing rod with 2" aluminum cap inscribed, "SURVEYOR SCHERBEL LTD AFTON WY PLS 5368 with appropriate details; each "point" marked by a 5/8" X 24" steel reinforcing rod with a 2" aluminum cap inscribed, "SURVEYOR SCHERBEL LTD AFTON WY PLS 5368 with appropriate details; each "pipe" marked by a 1" black iron pipe with a yellow plastic cap inscribed "PE /LS 698"; all in accordance with the plat prepared to be filed in the Office of the Clerk of Lincoln County titled, "PLAT OF BOUNDARY ADJUSTMENT AND REVISED EASEMENT FOR CHARLES H. DANA REVOCABLE TRUST, DATED 8 AUGUST 1990 FRANK B. AND K.ITTIE L. BORDEN FAMILY TRUST, DATED 19 FEBRUARY 1997 1N THE NE'/ SECTION 23 T34N R11,W WITHIN THE INCORPORATED LIMITS OF THE AYNE L1NC Z9 dated 19 April 2006 as revised. ♦r /R d.' �•ti_ f P add "Modification in any way' t Ffeset9ption terminates liability of the surveyor" February 20 000 84