HomeMy WebLinkAbout959854RECEIVED 6/28/2011 at 11:46 AM
RECEIVING 959854
BOOK: 768 PAGE: 498
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY MORTGAGE
The Rayma Anglesey Family Trust, dated February 7, 2008,
hereinafter referred to as "MORTGAGOR hereby mortgages unto WEST
PARK HOSPITAL DISTRICT, of Cody, Wyoming, hereinafter referred to
as "MORTGAGEE the following described real property situate in
Lincoln County, Wyoming, hereby releasing and waiving all rights
under and by virtue of the homestead exemption laws of the State
of Wyoming:
The real property described on Exhibit A attached hereto and
hereby incorporated by reference.
TOGETHER WITH all improvements and appurtenances thereunto
belonging, and hereinafter called "the mortgaged property
upon the following terms and conditions:
ARTICLE I
INDEBTEDNESS SECURED
0
This real property mortgage is executed and delivered by
MORTGAGOR to secure and enforce that certain promissory note, in
the principal amount of TWO HUNDRED SIXTY -FOUR THOUSAND SIX
HUNDRED SIXTY -SIX AND 66/100 DOLLARS ($264,666.66), with no
interest thereon, payable in the following manner:
THE ENTIRE REMAINING BALANCE OF PRINCIPAL S HALL BE DUE AND
PAYABLE IN FULL upon the sale of the mortgaged property, or
October 15, 2013, whichever event occurs earlier.
The undersigned agrees to immediately place the PROPERTY on
the market for sale and actively and positively pursue its sale.
Failure to actively pursue the sale of the PROPERTY as outlined in
the Settlement Agreement and Mutual Release shall cause this note
to be in default, and THE ENTIRE REMAINING AMOUNT OF PRINCIPAL AND
INTEREST SHALL BE DUE AND PAYABLE IN FULL.
This Mortgage secures a Promissory Note which is a non
recourse Note, and only the proceeds from the sale of the above
described real property shall be used to pay said indebtedness.
The Mortgagee shall only be entitled to 2/3 of the net sale
proceeds of the PROPERTY provided it sells no later than October
15, 2013. If the PROPERTY does not sell by October 15, 2013, the
entire remaining balance of this promissory note shall be due and
payable and full, and West Park Hospital District shall be
entitled to all of the sale proceeds of the PROPERTY. The
Mortgagor shall have no further liability hereunder once the
proceeds from the sale of the above described real property are
paid in full as outlined herein and in the Settlement Agreement
and Mutual Release.
ARTICLE II
COVENANTS OF MORTGAGORS
MORTGAGOR covenants and agrees with MORTGAGEE, its successors
and assigns, as follows:
(a) The MORTGAGOR will actively and positively pursue the
sale of the above described real property at a reasonable price,
and if said real property has not sold by October 15, 2013, or the
entire Promissory Note has been paid in full, the Mortgagor will
COONIIMO
immediately vacate the property, and will be in default.
(b) The MORTGAGOR will pay each and every installment of
principal and interest, in the manner and amount and at the time
provided in the promissory note;
(c) MORTGAGOR will secure and maintain and furnish MORTGAGEE
evidence thereof, insurance with an insurance carrier or carriers
acceptable to MORTGAGEE covering the insurable portion of the
mortgaged property, if any, against loss by fire and such other
hazards and risks and in such amounts as shall be equal to the
insurable value thereof. Said insurance shall contain an
appropriate loss payable provision protecting both MORTGAGOR and
MORTGAGEE as their respective interests may appear from time to
time;
(d) MORTGAGOR will pay all taxes, assessments, charges, and
water assessments levied or assessed against the mortgaged
property, when and as the same become due and payable.
(e) MORTGAGOR will keep and maintain all improvements on the
mortgaged property, if any, in as good a condition and repair as
they are now, ordinary wear and tear excepted;
(f) This mortgage shall become due and payable as outlined
herein in the event of sale, assignment, transfer, conveyance,
mortgage, pledge or any hypothecation of the mortgaged property,
or any part thereof.
In the event MORTGAGOR fails to keep and maintain the
insurance, or fails to pay the taxes, assessments, charges, or
water assessments as herein provided, MORTGAGEE may pay the same,
and any such payments shall draw interest at the rate of eighteen
percent (18 per annum, shall be secured by this mortgage, and
shall be payable on demand. At MORTGAGEE'S option, MORTGAGOR'S
failure to pay the above described charges may be deemed as a
default hereunder, and if so deemed, MORTGAGEE may proceed in
accordance with the terms of default contained herein.
In the event MORTGAGOR fails to actively and positively pursue
the sale of the above described real property for a reasonable
price as outlined in the Settlement Agreement and Mutual Release
between Mortgagor and Mortgagee, and continues to pursue the sale
actively, this mortgage shall be in default and shall begin
accruing interest at the rate of 7.0 percent per year, and the
entire remaining balance of principal and all accrued interest
shall be due and payable in full.
ARTICLE III
REMEDIES IN THE EVENT OF DEFAULT
As used herein, "event of default" shall mean the occurrence
of any one of the following:
(a) MORTGAGOR'S default in any payment on account of interest
or principal on the promissory note;
(b) MORTGAGOR'S breach of any condition or covenant contained
herein or in the promissory note;
(c) MORTGAGOR, shall: (i) become insolvent or unable to pay
Page 2
000500
its debts as they mature, (ii) applies for or consents to the
appointment of a receiver, trustee or liquidator of all or any
part of his assets, (iii) be adjudicated bankrupt or insolvent or
file a voluntary petition in bankruptcy, or (iv) make a general
assignment for the benefit of creditors;
(d) Failure by MORTGAGOR to pay and remove any lien filed upon
the mortgaged property.
If a default shall have occurred, the MORTGAGEE shall have the
right at any time thereafter to notify the MORTGAGOR in writing of
the nature and extent of the default, and if such default is not
corrected within thirty (30) days after the receipt of such
notice, the unpaid principal sum and interest on the promissory
note shall be immediately due and payable, and the MORTGAGEE shall
be entitled to take immediate possession of the mortgaged
property, and collect all rents from said real property described
above, with or without judicial process, and shall be entitled to
all of the rents and profits therefrom, and MORTGAGEE may proceed,
pursuant to law, to foreclose on and sell the mortgaged property,
either by judicial action, Power of Sale, or advertisement of
sale, as MORTGAGEE may elect. The proceeds of any sale of the
mortgaged property shall be applied first to the payment of costs
and expenses of such foreclosure sale, including reasonable
compensation to the MORTGAGEE, their agents and attorneys; second
to the payment of all amounts due on the promissory note; and
third, any remaining balance shall be paid to the MORTGAGOR, his
heirs and assigns, or to whomsoever may be legally entitled
thereto or as a court of competent jurisdiction may direct. In the
event the proceeds of such sale or sales or other disposition of
the mortgaged property fails to satisfy all costs and expenses of
sale, and the full amount of principal and interest on the
promissory note, MORTGAGOR shall not be required to pay any
deficiency. This is a nonrecourse mortgage, and only the proceeds
from the above described real property shall be used to satisfy
the debt of Mortgagor. MORTGAGOR agrees to pay all costs and
expenses of foreclosure and sale, including reasonable attorney's
fees from the proceeds of the sale of the above described real
property.
DATED this
ARTICLE IV
MISCELLANEOUS
Any notices permitted or provided for herein may be delivered
in person to the party addressed or may be delivered by depositing
the same in the United States mail, certified or registered with
return receipt requested, addressed to MORTGAGOR at the address
contained herein. In the event MORTGAGOR fails to collect and sign
for said notice, the notice shall be considered as having been
delivered three (3) days following the deposit of the same in any
United States Post Office. Change of address for notice may be
made by giving appropriate notice in writing of such change to the
other party. y
b
day of April, 2011.
Page 3
STATE OF �e -R
)ss
COUNTY OF 0 4.4c0C",.
Witness my hand and official seal.
B NEUENSCHWANDER NOTARY PUBLIC
County of
Lincoln
State of
Wyoming
My Commission pires August 31, 2014
My Commission Expires:
6k LW\
000501
Rayma Anglesey Family Trust,
u /a /d February 7, 2008
B
By:
Anita Bro
Successor Trustee
Misty Stadler\
Successor Trustee
The foregoing instrument was acknowledged before me by Anita
Brown and Misty Stadler, Trustees of the Rayma Anglesey Family
Trust, this day of April, 2011.
xkqfP.0()AWQ11C\91
Notary Public
Page 4
EEC J. SHUMWAY and. UE1DI SHUNWAY, husbandand wife
,501e1JfWyomitc.licsOy
Kuut H ANUESEK and. RAMA. ANGLESEY, husband and wife,
O:; tenants by the entireties
u;romice s of Box 1 '::.4tioot, WY 33126
withe.sumul Ten dollacs and, other good and valuable consideration
Ue Wilowiug Oww,01.wd fr.Le1. o1 Lincoln CowyHAMR of Wyoming,
relumAilg aud wal ylgtUs xmcie.f :md by vi111x. uJ 1lu holueUead tempi,iun law; of llif! Sfalu,
That part of Lot 3, Section 6, T30N, R1188, Lincoln County, Wyoming, being part
of thal tract 0L i.v.(„:0,1:d in the Office of the Clerk of Lille0111 County in Book 357
of Photostatic Ruords 00 page 523, described as follows:
Beginning at the northeast corner of said. Lot 3; thence SO0'27.5'E, 1361.22Jeet,
along the east tine of said. Lot 3, to the southeast COEnCE thereof; thence S89'
29.2'8, 319.81 teet, along the south line of said 113L 3, Lo a point, thence 1
27.5'8 patallei wit1i said east line, Lo a spike D.0 the noxth line of
said Lot 3; them.e 869"09XE, 319.6i feet, along said north line to the COUler
of Beginning; ENCONEMSING an area of 9.96 acres, more or less; the Base Bea:ing
tor this ..;urvey thc ea8t line of Section 6, 83ON, U1 18W, being NOW15.0'8; each
"couler" found de;:iccibed in that Corner Record filed in said Office; each "point"
marked by a 5/8" Z6" steel reinforcing Lod with u 2" aluminun cap inscribed
"SURNEY 111 811)1 1 BIG PINEY WY PL S 5368", with appropriate (Letails; each "spike"
marked by 3/8" steel spike, all in accordance with the plat prepared to be
filed in the Offic of the Cie.& of Lincoln County titled "PLAT TO ACCOMPANy PARCEL
DIVISION APVIAGATION I,A0lfl 1181 33 WELCH WITHIN LOT 3 AND 10 4 SECTION 6 1308
1 1181/ LINCOLN COUNTY:, WYONING", dated 1 April 1995.
Subject_ to L..c:.3co, aid. ),:e6L.Licti0w contained in the United 'States Patent
and. LO easements and. rights U.I. record or in 000.
Together with mffovewnts and. appurtenances thereon,
In Book Paw (44,..,):(,..1Catimeser,. WY
No a ..I 5 2 mar9ha Moo C.:101
ul April 1.198
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