HomeMy WebLinkAbout959460MORTGAGE
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RECEIVED 5/27/2011 at 1:5
RECEIVING 959460
BOOK: 767 PAGE: 280
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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KNOW ALL MEN BY THESE PRESENTS, that Steve K. Huhtala and Elizabeth W. Huhtala,
husband and wife, herein referred to as mortgagor, of PO Box 613, Thayne, WY 83127, to secure
the payment of the principal sum of $137,500.00, with interest as evidenced by a Promissory Note
dated of even date herewith to the order of Donald D. Prazma and Kim R. Prazma, husband and
wife, as tenants by the entireties, of PO Box 1353, Thayne, WY 83127, herein referred to as
mortgagee, principal and interest payable together with interest on the unpaid principal balance at
the rate of six and one -half per cent (6.5 per annum from June 1, 2011, until paid, as follows:
In equal monthly amortized installments of principal and interest in the amount of
$1,197.77 payable on the 1st day of each month beginning July 1, 2011, and
continuing on the 1st day of each succeeding month until June 1, 2026, when the
entire remaining balance, including principal and accrued interest, shall be due
and payable in full. Prepayments of principal may be made in any amount at any
time without penalty.
hereby mortgages to mortgagee, the following described real estate, situated in the County of
Lincoln, State of Wyoming:
A portion of the Northwest (unnumbered block sometimes referred to as Block 8) of
the Van Noy Park Subdivision, map of which was signed by Thomas L Van Noy on
the 28th day of August, 1915, and is now designated as Map No. 185, being part of
the SW1 /4NE1/4 of Section 23, T34N R119W of the 6th P.M., in the Town of
Thayne, Lincoln County, Wyoming, more particularly described as follows:
BEGINNING at a point 863.50 feet North and 182.32 feet (measured) (150
recorded) East from the Brass Cap monument marking the Center Quarter corner of
said Section 23, said POINT OF BEGINNING being an iron pipe monument marking
the Southeast corner of the Don Aullman property:
thence North along the Easterly line of the Aullman property 90.00 feet, more or
less, to the Northwest corner of that tract of land described in Warranty Deed
recorded in Book 82PR on page 158;
thence East 91.71 feet, more or less, to the East line of Lincoln Avenue, 33 feet
wide;
thence South along last said East line 90.00 feet;
thence West 91.71 feet, more or less, to the point of beginning.
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ALSO a portion of the Northwest (unnumbered block sometimes referred to as Block
8) of the Van Noy Park Subdivision, map of which was signed by Thomas L Van Noy
on the 28th day of August, 1915; and is now designated as Map No 185, being part
of the SW1 /4NE1/4 of Section 23, T34N RII9W of the 6thP.M. in the Town of
Thayne, Lincoln County, Wyoming, more particularly described as follows
BEGINNING at a point 863.50 feet North and 43.09 feet East from the Brass Cap
monument marking the center 1/4 corner of said Section 23, said POINT OF
BEGINNING also lying in the Easterly line of Highway US 89, 80 feet wide;
thence N 0 °59' W, along last said line, 90.013 feet to a cross in the concrete
sidewalk;
thence East 141.46 feet to an iron pipe;
thence South 90.00 feet to an iron pipe;
thence West 139.915 feet to the POINT OF BEGINNING.
EXCEPTING THEREFROM the following described land as set forth in that certain
Quitclaim Deed dated July 20, 2006, and recorded in the office of the Lincoln County
Clerk on July 24, 2006, in Book 627, page 197:
Description: T- Covenant Adjusted
The T- Covenant property as referred to in the Deed recorded in Book 395PR, on
Page 1, a portion of the Barber property, as referred to in the Deed recorded in Book
354PR on Page 279, and a portion of the Prazma property, as referred to in the
Deed recorded in Book 553 PR on Page 896, all with the Office of the Clerk of
Lincoln County, Wyoming, within the NE1 /4 of Section 23, T34N RI19W of the 6th
P.M., Lincoln County, Wyoming, the metes and bounds being more particularly
described as follows:
BEGINNING at a Point in the West line of said NE1 /4, said Point of Beginning being
2,764.31 feet N71 °00'38 "W from the Lloyd B Baker PE /LS 698, 1995 location for the
Southeast Corner of said NE1 /4, also said Point of Beginning being 3.179.35 feet
S56 °59'27 "W from the Lloyd B Baker PE /LS 698, 1974 location for the Northeast
Corner of said NE1 /4;
thence N0 °51'01 "E, along said West line, 30.37 feet;
thence S89 °29'59 "E 126.85 feet;
thence S0 °51'01: W 31.15 feet;
thence N89 °08'59 "W, perpendicular to said West line, 126.85 feet, to the Point of
Beginning, containing 9.09, more or less, Acres of Land.
SUBJECT TO: That portion of the above described property lying within the bounds
of U.S. Highway 89.
SUBJECT TO all covenants, easements, exceptions, restrictions, reservations and
rights of way of sight or record, including, without limitation, the following:
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1. That certain Declaration of Restrictive Covenant dated April 29, 2004, and
recorded in the office of the Lincoln County Clerk on April 30, 2004, in Book
553 PR, page 898.
2. That certain Drainage Agreement dated July 20, 2006, and recorded in said
office in Book 627, page 756
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.
And mortgagor covenants with mortgagee as follows:
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 interest 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
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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 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 themselves 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
pursuant to the provisions of Paragraph 6 hereof, and then to the payment of the balance due on
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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 and upon
mortgagee becoming entitled to possession of the premises according to law, 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 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,
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, 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. 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.
11. 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.
12. 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
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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 Tess 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
written notice, mortgagor shall have thirty (30) days in which to pay the entire remaining balance to
mortgagee.
IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the 26th day of
May, 2011.
STATE OF WYOMING
COUNTY OF LINCOLN
The foregoing Mortgage was acknowledged before me by Steve K. Huhtala and Elizabeth
W. Huhtala, husband and wife, this 26th day of May, 2011.
ss.
Witness my hand and official seal.
GERALD L. GOULDING NOTARY PUBLIC
County of State of
Lincoln '1 Wyoming
My Commission Expires May 2, 2015
My commission expires: May 2, 2015.
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L W f‹,
Steve K. Huhtala
Elizabeth W. Huhtala
NOTARY PUBLI