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State Parcel ID No.: 34192440027600
Together with and including all oil, gas, and other mineral rights
owned by Grantor, and all other appurtenances and hereditaments
thereunto belonging. Subject to taxes and all covenants, conditions,
restrictions, easements, reservations, rights and rights -of -way of
sight and/ or record.
WYOMING TITLE ESCROW
A MOTHER L..00K COMPANY
MORTGAGE
This mortgage is made as of the b day of May, 2011, by John and
Amanda Beckett, husband and wife, as tenants by the entireties, of P.O. Box 14693,
Jackson, Wyoming 83002 (collectively the "Mortgagor m favor of Leo Stanek, of
P.O. Box 1695, Driggs, Idaho 83422 (the "Mortgagee
WITNESSETH, that to secure the payment of an indebtedness in the sum of
Eleven Thousand, Four Hundred Dollars ($11,400.00), together with interest
thereon, all as evidenced by that certain Promissory Note of even date herewith m
the original principal amount of Eleven Thousand, Four Hundred Dollars
($11,400.00), together with all renewals, modifications and extensions thereof, the
Mortgagor hereby mortgages to the Mortgagee the following described real
estate, situated in the County of Lincoln, State of Wyoming, to-wit:
Lot 21 of Bear Hollow Twin Homes Subdivision, Lincoln County,
Wyoming as described on the official plat filed on June 20, 2000 as
Instrument No. 866535 of the records of the Lincoln County Clerk
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And the Mortgagor covenants with the Mortgagee as follows:
1. Payment. The Mortgagor shall pay the indebtedness hereby
secured.
2. Prepayment. The Mortgagor shall have the privilege of paying
principal sums plus accrued interest, 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 accrued interest and the balance to principal in the inverse order
of when due.
3. Preservation of Property. The Mortgagor shall not do anything on
or m connection with the Property which may impair Mortgagee's security
hereunder. Mortgagor will not commit, permit or suffer any waste, impairment,
or deterioration of the Property and the Property shall be continuously
maintained, in good and sightly order, repair and condition by Mortgagor at his
expense.
4. Taxes and Other Charges. The Mortgagor shall pay all ground CI_ h N
rents, taxes, assessments, sewer rents, water rates, all governmental, quasi i
governmental charges (e.g., homeowner association assessments) and other 0..
lawful charges on or against the Property. o
N
5. Payments by Mortgagee. In the event Mortgagor defaults in the 0
payment of any lawful charges against the Property Mortgagee, at its sole option I p
and discretion, may pay the same. Mortgagor covenants and agrees to reimburse
such sums expended by Mortgagee with interest at the rate of six percent (6 per V
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annum, and the same shall constitute a lien against the Property with priority as
of the date hereof.
6. Statement. The Mortgagor, within twenty (20) days upon request in
person or within thirty (30) days upon request by mail, will furnish a written
statement duly acknowledged verifying and acknowledging the amount
outstanding on the indebtedness secured by this mortgage.
7. Notice. All notices shall be sent by certified mail, shall be deemed
given when mailed, and shall be addressed as follows or at such other place as
may be designated by either party from time to time in writing in the same
manner as provided herein:
Mortgagor: John and Amanda Beckett
P.O. Box 14693
Jackson, WY 83002
Mortgagee: Leo Stanek
P.O. Box 1695
Driggs, ID 83422
8. Warrant. The Mortgagor warrants the title to the Property.
Mortgagor shall furnish and pay for title insurance coverage insuring Mortgagee's
interest m the Property to the full amount of the indebtedness secured hereby.
9. Default and Acceleration. The entire indebtedness secured hereby
shall become due and payable at the option of the Mortgagee:
(a) Upon default in the payment of any amount hereby secured or
payable hereunder (regular installments of principal and interest,
late charges, lawful charges against the Property, amounts paid by
Mortgagee, attorney fees, collection costs, etc.) and failure to cure
such payment default within ten (10) days of written notice thereof;
or
(b) After failure, to exhibit to the Mortgagee, within thirty (30) days
after demand, receipts showing payment of all ground rents, taxes,
water rates, sewer rents, governmental charges, quasi-governmental
charges and assessments; or
(c) After the assignment of the rents of the Property or any part thereof
without the written consent of the Mortgagee, except as otherwise
provided herein; or
(d) If the Mortgagor fails to keep, observe and perform any of the other
covenants, conditions or agreements contained in this mortgage (not
cured within prescribed time limits); or
(e) After failure to comply with any requirement or order or notice of
violation of law or ordinance issued by any governmental or quasi
governmental authority claiming jurisdiction over the Property
within three (3) months from the issuance thereof; or
Upon sale or transfer of an interest in the Property without
Mortgagee's consent as herein provided; or
(f)
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(g)
Anything in this mortgage contained to the contrary
notwithstanding, if it shall be necessary for Mortgagee or
Mortgagee's agent to notify Mortgagor in writing of default under
this mortgage for failure to make the required payments in a timely
manner three (3) times during any twelve month period, then the
Mortgagee shall not be obligated to provide any further notice of
default and the mortgage will, at the option of Mortgagee, be in
default (and all amounts secured hereby and payable hereunder
shall be fully due and payable) and the Mortgagee shall have all
remedies available to it as set forth herein.
10. Foreclosure Upon Default. In the event of default and acceleration
as herein provided, the Mortgagee may proceed, pursuant to the laws of the State
of Wyoming by Judicial Foreclosure or Advertisement and Sale, to foreclose on
and sell the Property, and out of the proceeds of such sale shall pay all sums
secured hereby, including all costs and expenses of the foreclosure proceeding.
11. Remedies. 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 which may be exercised concurrently, independently or successively.
Any forbearance by Mortgagee in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall not be deemed a waiver or preclude
the exercise of any such right or remedy at any time.
12. Receiver. The holder of this mortgage, in any action or procedure to
foreclose it (judicial, by power of sale or otherwise), shall be entitled to the
appointment of a receiver. The Mortgagor hereby consents that, in the event a
receiver is appointed, Mortgagee may be the receiver.
13. Possession. In the event of default by Mortgagor, the Mortgagee is
entitled to possession of the Property during the pendency of any foreclosure
proceedings and during any period of redemption, if applicable, under the
statutes of the State of Wyoming.
14. Attorney and Foreclosure Expenses. If any action or proceeding be
commenced, to which action or proceeding the Mortgagee is made a party due to
its interest in the Property, or in which it becomes necessary to initiate collection
of the indebtedness hereby secured or foreclosure proceedings (whether or not
suit is necessary), all sums paid by the Mortgagee for the expense of any litigation
or proceeding to prosecute or to defend the rights and lien created by this
mortgage or to foreclose this mortgage or to collect the indebtedness hereby
secured (including reasonable attorneys' fees), shall be paid by the Mortgagor,
together with interest thereon at the rate of eighteen percent (18 per annum,
and any such sums and the interest thereon shall be a lien on the Property, prior
to any right, or title to, interest in or claim upon the Property attaching or
accruing subsequent to the lien of this mortgage, and shall be deemed to be
secured by this mortgage.
15. Assignment of Rents. The Mortgagor hereby assigns to the
Mortgagee the rents, issues and profits, if any, of the Property as further security
for the payment of the indebtedness secured hereby, and the Mortgagor grants to
the Mortgagee the right to enter upon the Property or any part thereof, and to
apply the rents, issues and profits, after payment of all necessary charges and
expenses, on account of the indebtedness hereby secured. This assignment and
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grant shall continue in effect until all sums secured by this mortgage are paid.
The Mortgagee hereby waives the right to enter upon the Property for the
purpose of collecting said rents, issues and profits, and the Mortgagor shall be
entitled to collect and to receive said rents, issues and profits; provided that such
right of the Mortgagor may be revoked by the Mortgagee upon any default (not
cured within the applicable cure period) hereunder, without notice.
16. Deficiency. In the event the Property is sold at foreclosure (judicial,
power of sale, or otherwise according to law) and the proceeds are insufficient to
pay the indebtedness secured hereby, Mortgagor shall remain liable for the
unpaid balance and Mortgagee will be entitled to a deficiency judgment.
17. Due -on- Transfer. If all or any part of the Property or any equitable
or beneficial interest therein is sold or otherwise transferred by Mortgagor
without Mortgagee's prior written consent, which shall not be unreasonably
withheld, excluding (a) the creation of a purchase money security interest for
appliances, (b) a transfer by descent, devise or operation of the law upon the
death of any owner, or (c) the grant of any leasehold interest to the Property of
three (3) years or less not containing an option to purchase, Mortgagee may, at
Mortgagee's sole option, declare all sums secured hereby to be immediately due
and payable.
18. Set -Off. Mortgagor shall not be entitled to set-off or any similar
rights against amounts secured hereby.
19. Miscellaneous. This mortgage may not be changed or terminated
orally. The covenants, agreements and conditions contained in this mortgage
shall run with the land and bind the Mortgagor, the heirs, successors and assigns
of the Mortgagor, and all subsequent owners, encumbrancers, tenants and
subtenants of the Property, and shall inure to the benefit of the Mortgagee, the
personal representatives, successors and assigns of the Mortgagee, and all
subsequent holders of this mortgage. The word "Mortgagor" shall be construed
as if it read "Mortgagors" and the word "Mortgagee" shall be construed as if it
read "Mortgagees" whenever the sense of this mortgage so requires. Whenever
used, the singular shall include the plural, the plural the singular and the use of
any gender shall include all genders. This mortgage shall be governed by the
laws of the State of Wyoming.
IN WITNESS WHEREOF, this mortgage has been duly executed by the
Mortgagor, hereby relinquishing and waiving all rights under and by virtue of
the homestead exemption laws of the State of Wyoming.
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0002`'M
In m
STATE OF V" ��l
COUNTY OF
ss.
The foregoing instrument was acknowledged before me by John and
Amanda Beckett, husband and wife, this day of "1
2011.
Witness my hand and official seal.
My Commission Expires:
Notary Public
HALLIE LANE NOTARY PUBLIC
COUNTY OF WYOMING
O
TETON
MY COMMISSION EXPIRES 05 24 2012
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