HomeMy WebLinkAbout873021WIN ("(EUIVNETD
Y CLERK
BOOK .-PR PA08 DEED OF TRUST G am/
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HIS DEED OF TURST, made this 12'' day of Apri1a1l 24ger M Linde, herein called °
GRANTOR, whose address is 1473 St Charles Cir. Idaho Falls, ID 83402 and Clee Stokes and Abie 5tAl .,4 :y y 'r
Husband and Wife herein called BENEFICIARY.
KFNINIERL
WITNESSETH: That Grantor does hereby irrevocably GRANT, BARGAIN, SELL and CONVEY TO
j TRUSTEE IN TRUST, WITH POWER OF SALE, that property in the County of Lincoln, State of Wyoming,
r consisting of not more than 2 acres in area, described as follows: Pallis Park Second Addition, Lot, 100, T37, R118,
a S29, Lincolin County, Alpine Wyoming.
TOGETHER WITH all the tenements, hereditaments and appurtenances now or hereafter thereunto belonging or in
as n anywise appertaining, and the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and
authority hereinafter given to and conferred upon Beneficiary to collect and apply such rents, issues and profits;
For the Purpose of Securing:
1. Performance of each agreement of grantor herein contained.
2. Payment of the indebtedness evidenced by a promissory note, of even date herewith, and any extension
or renewal thereof„ in the principal sum of TWENTY ONE THOUSAND FIVE HUNDRED SIXTY
DOLLARS AND FIFTY SIX CENTS payable to Beneficiary or order and made by Grantor, of the
final payment of principal and interest thereof, if not sooner paid, to be finally due and payable on July
27, 2001. To secure payment of all such further sums as may hereafter be loaned or advanced by the
Beneficiary herein to the Grantor herein or any or either of them 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 the
Beneficiary, and that the total of all such further loans, advances or expenditures to be secured hereby
shall in no event exceed the total sum of TWENTY ONE THOUSAND FIVE HUNDRED SIXTY
FIVE DOLLARS AND FIFTY SIX CENTS, and shall become due and payable no later than the final
maturity date of said note secured hereby, 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 thereon.
A. 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 thereon; to
complete or restore promptly and in good and workmanlike manner any building which may be
constructed, damaged or destroyed thereon and to pay when due all claims for labor performed and
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materials furnished therefor; to comply with all laws affecting said property or requiring any
not to commit
; not to commit or
ermit waste thereof
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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
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necessary, the specific enumerations herein not excluding the general.
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2. To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to
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Beneficiary. The amount collected under any fire or other insurance policy may be applied by
Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine, or
at option of Beneficiary the entire amount so collected or any part thereof may be released to Grantor.
Such application or release shall not cure or waive any default or notice of default hereunder or
invalidate any act done pursuant to such notice.
3. To appear in and defend any action or proceeding purporting to affect the security hereof or the rights
or powers of Beneficiary or Trustee; and to pay all costs and expenses, including cost of evidence of
title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or
Trustee may appear.
4. 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 thereof, which
appear to be prior or superior hereto; all costs, fees and expenses of this Trust. In addition to the
payments due in accordance with the terms of the note hereby secured the Grantor shall at the option,
and on demand of the Beneficiary, pay each month 1/12 of the estimated annual taxes, assessments,
insurance premiums, maintenance and other charges upon the property, nevertheless 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 under this trust.
5. To pay immediately and without demand all sums expended by Beneficiary or Trustee, but without
obligation so to do and without notice to or demand upon Grantor and without releasing Grantor from
any obligation hereof, may: make or do the same in such manner and to such extent as either may
deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon
said property for such purposed; appear in and defend any action or proceeding purporting to affect the
security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise
any encumbrance, charge or lien which in the judgment or either appears to be prior or superior hereto;
and, in exercising any such powers, or in enforcing this Deed of Trust by judicial foreclosure, pay
necessary expenses, employ counsel and pay his reasonable fees.
B. 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 thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys
received by him in the same manner and with the same effect as above provided for disposition of proceeds
of fire or other incidence.
2.
By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right
either to require prompt payment when due of all other sums so secured or to declare default for failure so
to pay.
At any time or from time to time without liability therefor and without notice, upon written request of
Beneficiary and presentation of this Deed and said note for endorsement, 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 thereof; join in granting any easement
thereon or join in any extension agreement or any agreement subordinating the lien or charge hereof.
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4. Upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon
surrender of this Deed and said note to Trustee for cancellation and retention and upon payment of its fees,
Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in any
reconveyance executed under this Deed of Trust of any matters or facts shall be conclusive proof of the
truthfulness thereof. The grantee in such reconveyance may be described as "the person or persons legally
entitled thereto."
5. As additional security, Grantor hereby gives to and confers upon Beneficiary the right, power and
authority, during the continuance of these Trusts, to collect the rents, issues and profits of said property,
reserving unto Grantor the right, prior to any default by Grantor in payment of any indebtedness any such
default, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be
appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby
secured, enter upon and take possession of said property or any part thereof, in his own name sue for or
otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same,
less costs and expenses of operation entering upon and taking possession of said property, the collection of
such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or
notice of default hereunder or invalidate any act done pursuant to such notice.
6. Upon default by Grantor in payment of any indebtedness secured hereby or in performance of any
agreement hereunder, all sums secured hereby shall immediately become due and payable at the option of
the Beneficiary. IN the event of default, Beneficiary shall execute or cause the Trustee to execute a written
notice of such default and of his election to cause to be sold the herein described property to satisfy the
obligations hereof, and shall cause such notice to be recorded in the office of the recorder of each county
wherein said real property or some part thereof 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 the 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 express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of
the truthfulness thereof. Any person, including the Beneficiary under the Deed of Trust, may purchase at
such sale.
After deducting all costs, fees and expense of Trustee and of this Trust, including cost of evidence of title
and reasonable counsel fees in connection with sale, Trustee shall apply the proceeds of sale to payments
of: all sums expended under the terms hereof, not then repaid, with accrued interest at 0 per annum; all
other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto.
7. This Deed applies to, insures to the benefit of , and binds all parties hereto, 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 the note has been pledged, the pledgee thereof. In this Deed, whenever the
context so requires, the masculine gender includes the feminine and/or neuter, and the singular number
includes the plural.
8. Trustee is not obligated to notify any party hereto 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 brought by Trustee.
9. In the event of dissolution or resignation of the Trustee, the Beneficiary may substitute a trustee or trustees
to execute the trust hereby created, and when any such substitution has been filed for record in the Office of
the Recorder of the county in which the property herein described is situated, it shall be conclusive
evidence of the appointment of such trustee or trustees, and such new trustee or trustees shall succeed to all
of the powers and duties of the trustee or trustees named herein.
Request is hereby made that a copy of any Notice of Default and copy of any Notice of Sale hereunder be
mailed to the Grantor at his address hereinbefore set forth.
GR O
ROG M LINDE
STATE OF IDAHO )
:ss
COUNTY OF )
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On This c2 X104" , in the yearaoo , before me, a Notary Public in and for said State,
personally appeared j209erZ z4A~ , known or identified to me to be the person(s) whose name(s)
are subscribed to the within Instrument, and acknowledged to me that they executed the same.
Notary Public of a
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Residing at vi Go" 147
Commission Expires 1 •
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BLIC
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DEED OF TRUST NOTE fj 1
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For Value received, the undersigned promise to pay the order of: Clee Stokes the
Principal sum of Twenty One thousand five hundred sixty dollars and fifty six cents in
lawful money of the United States of America, for the term of three months, ninety days.
TERM
Two thousand dollar fee. For every day after July 27, 2001 there will be a fee of eighty
dollars per day penalty.
The maker hereof may repay any or all sums due hereunder at anytime without prior
notice to the holder and without penalty or premium of any kind.
In case of failure to pay any installment when same shall become due, the holder at his
option, may declare the whole principal hereof as immediately due and payable. In case
this note is collected by an attorney, either with or without suit the undersigned hereby
agree to pay a reasonable attorney's fee.
This note is secured by a Deed of Trust of even date executed by the undersigned on
certain real property described therein.
The undersigned hereby waive presentment, protest, and notice.
READ AND APPROVED BY:
A 41) d : ~ G