HomeMy WebLinkAbout956112AND WHEN RECORDED MAIL TO:
Todd Essenmacher
c/o Todd Daniel Beld
1601 Dove Street, Ste. 200
Newport Beach, CA 92660
Order No.:
Escrow No.:
This Mortgage, made this 2nd day of
GUY JACOBSON and CELESTE JACOBSON
whose address is 126 Rich Lane, Afton, WY 83110
and TODD ESSENMACHER
BENEFICIARY,
RECORDING REQUESTED BY:
SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF
RECEIVED 10/21/2010 at 10:13 AM
RECEIVING 956112
BOOK: 755 PAGE: 718
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SPACE ABOVE THIS LINE FOR RECORDER'S USE
MORTGAGE
May, 2007 between
herein called Mortgagor,
herein called
Witnesseth: That Mortgagor IRREVOCABLY MORTGAGES to and in favor of BENEFICIARY, WITH POWER OF
SALE, that property in LINCOLN County, Wyoming, described as:
TOGETHER WITH 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 Mortgagor herein contained. 2. Payment of the indebtedness evidenced by
one promissory note of even date herewith, and any extension or renewal thereof, in the principal sum of
118,000.00 executed by Mortgagor in favor of Beneficiary or order. 3. Payment of such further
sums as the then record owner of such property hereafter may borrow from Beneficiary, when evidenced by another
note (or notes) reciting it is so secured.
To Protect the Security of This Mortgage, Mortgagor 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 materials furnished therefor; to comply with
all laws affecting said property or requiring any alterations or improvements to be made thereon; not to commit or
permit waste thereof; 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 herein not excluding the general.
(2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to
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 Mortgagor. 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; and to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable
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sum, in any such action or proceeding in which Beneficiary may appear, and in any suit brought by Beneficiary to
foreclose this Mortgage.
(4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including
assessments on appurtenant water stock; 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.
Should Mortgagor fail to make any payment or to do any act as herein provided, then Beneficiary but without
obligation so to do and without notice to or demand upon Mortgagor and without releasing Mortgagor 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 being authorized to enter upon said property for such purposes; appear in and
defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary pay,
purchase, contest or compromise any encumbrance, charge or lien which in the judgment of either appears to be prior
or superior hereto; and, in exercising any such powers, pay necessary expenses, employ counsel and pay his
reasonable fees.
(5) To pay immediately and without demand all sums so expended by Beneficiary, with interest from date of
expenditure at the amount allowed by law in effect at the date hereof, and to pay for any statement provided for by law
in effect at the date hereof regarding the obligation secured hereby any amount demanded by the Beneficiary not to
exceed the maximum allowed by law at the time when said statement is demanded.
(6) That 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
insurance.
(7) That 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.
(8) That at any time or from time to time, without liability therefor and without notice, upon written request of
Beneficiary and presentation of this Mortgage and said note for endorsement, and without affecting the personal liability
of any person for payment of the indebtedness secured hereby, Trustee may: reconvey 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.
(9) That upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon
surrender of this Mortgage 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 such reconveyance 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."
(10) That as additional security, Mortgagor 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
Mortgagor the right, prior to any default by Mortgagor in payment of any indebtedness secured hereby or in
performance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and
payable. Upon 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 and collection, including reasonable attorney's fees, upon any indebtedness secured hereby, and in such
order as Beneficiary may determine. The 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.
(11) That upon default by Mortgagor in payment of any indebtedness secured hereby or in performance of any
agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to
Trustee of written declaration of default and demand for sale and of written notice of default and of election to cause to
be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee
this Mortgage, said note and all documents evidencing expenditures secured hereby.
After the lapse of such time as may then be required by law following the recordation of said notice of default, and
notice of sale having been given as then required by law, Trustee, without demand on Mortgagor, 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 may postpone sale of all or any portion of said property by public announcement at such time
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and place of sale, and from time to time thereafter may postpone such sale by public announcement at the time fixed
by the preceding postponement. Trustee shall deliver to such 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 Mortgagor, or Beneficiary as hereinafter defined, may
purchase at such sale.
After deducting all costs, fees and expenses of foreclosure sale, including cost of evidence of title in connection
with sale, Mortgage shall apply the proceeds of sale to payment of: all sums expended under the terms hereof, not then
repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all other sums then secured
hereby; and the remainder, if any, to the person or persons legally entitled thereto.
(12) INTENTIONALLY OMITTED.
(13) That this Mortgage applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees,
devisees, administrators, executors, successors and assigns. The term Beneficiary shall mean the owner and holder,
including pledgees, of the note secured hereby, whether or not named as Beneficiary herein. In this Mortgage,
whenever the context so requires, the masculine gender includes the feminine and /or neuter, and the singular number
includes the plural.
(14) INTENTIONALLY OMITTED.
The undersigned Mortgagor requests that a copy of any Notice of Default and of any Notice of Sale hereunder be
mailed to him at his address hereinbefore set forth.
MARGE BALLS
COUNTY OF
LINCOLN
NOTARY PUBLIC
STATE OF
WYOMING
MY COMMISSION EXPIRES MAY 25, 2010
[ATTACH NOTARY ACKNOWLEDGMENT]
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STATE OF WYOMING
ss.
COUNTY OF LINCOLN
The foregoing instrument was acknowledged before me by Guy Jacobson and
Celeste Jacobson on the 2 nd day of May 2007.
[Seal]
Witness my hand and official seal.
MARGE BALLS NOTARY PUBLIC
COUNTY OF 'it" STATE OF
LINCOLN :1 WYOMING
MY COMMISSION EXPIRES MAY 25, 2014
My Commission Expires: I'M cL 1 d 5
Notary Public
co
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Mortgagor waives to the extent permitted by law, (i) the
benefit of all laws now existing or that may hereafter be enacted
providing for any appraisal before sale of any portion of the
Property, and (ii) all rights of redemption, valuation, appraisal,
stay of execution, notice of election to mature or declare due the
whole of the debt and marshaling in the event of foreclosure of the
liens hereby created, and (iii) all rights and remedies which
Mortgagor may have or be able to assert by reason of the laws of
the State of Wyoming pertaining to the rights and remedies of
sureties.
To the extent permitted by law, upon default, Beneficiary
may elect to foreclose or exercise its right with respect to all or
any portion of any of the security granted to Beneficiary; no
single or partial exercise by Beneficiary of any power hereunder,
or under the Mortgage or any other agreement pertaining to or
securing this obligation, shall preclude other or further exercises
thereof or the exercise of any other such power; and the
Beneficiary hereof shall at all times have the right to proceed
against any portion of the security for the Note in such order and
in such manner as Beneficiary may consider appropriate, without
waiving any rights with respect to any of the security or any other
rights it may be granted by law.
ADDENDUM TO WYOMING MORTGAGE
Mortgagor: Guy and Celeste Jacobson
Beneficiary: Todd Essenmacher
(P.4,Ik LNI):
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