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HomeMy WebLinkAbout961325RECEIVED 10/7/2011 at 4:00 PM RECEIVING 961325 BOOK: 774 PAGE: 79 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY MORTGAGE RJ052611/F 000079 THIS MORTGAGE is given this (4 day of r' cie:r 2011, by the TOWN OF LABARGE, a duly organized municipality existing under the laws of the STATE OF WYOMING, hereinafter designated as MORTGAGOR, to the STATE OF WYOMING, WYOMING WATER DEVELOPMENT COMMISSION, 6920 Yellowtail Road, Cheyenne, Wyoming, &2002 hereinafter designated as MORTGAGEE, to secure payment of the sum of ONE HUNDRED TWENTY -TWO THOUSAND ONE HUNDRED ($122,100.00), together with interest thereon at the rate of FOUR percent (4 per annum on the unpaid balance according to the terms of that certain promissory note bearing even date herewith, given by said MORTGAGOR to said MORTGAGEE, which note MORTGAGOR agrees to pay and which is hereby incorporated herein by reference and made a part hereof; WITNESSETH: That said MORTGAGOR for and in consideration of the sum aforesaid, the receipt whereof is hereby acknowledged and confessed, does hereby mortgage, warrant, grant, pledge, assign, and convey unto the said MORTGAGEE, its successors and assigns, its interest and enforceable rights presently held or hereafter acquired in the following described property, real, personal and mixed, to wit: 1. Water diversion structures and other construction financed with Project funds as described in the Project Agreement dated i r1i r aOO which Agreement is hereby incorporated herein by reference and made a part hereof. Further all lands, easements, access roads, structures, rights -of -way and all appurtenances of the Town of LaBarge water system, including all after acquired property, to allow control and operation thereof. The diversion structure device to be constructed under the referenced Agreement is located in the SE 1 /4 of the NE 1 /4 of Section 6 of Township 26 North, Range 112 West of the 6th Prime Meridian, Lincoln County, Wyoming; 2. The interest MORTGAGOR currently has or hereafter acquires in the water rights recorded in the office of the Wyoming State Engineer as follows: Permit Number Priority Date P24979D 12/08/1975 P144296W 04/24/2002 and; 3. The pledge and assignment of the MORTGAGOR of funds currently held and revenues generated by the operation of the water system, in an amount sufficient to meet loan amortization requirements, and to provide a separate fund to meet repair and maintenance costs for the Project. The MORTGAGOR'S Pledge and Assignment of Revenues is incorporated herein by reference. 4. Any and all permits required for construction of this Project and subsequent operation and maintenance of the water system. The conditions of this mortgage are such that if the MORTGAGOR well and truly pays the Promissory Note hereinabove referenced, according to the terms thereof, this mortgage shall be null and void, otherwise to remain in full force and effect. MORTGAGOR shall pay all taxes, liens, judgments, assessments or insurance or any interest thereon, and in case default be made in payment of the principal, or any installment thereof, or any installment of interest as provided in said Promissory Note, then the whole sum of principal and interest shall become due and payable at the option of MORTGAGEE, and MORTGAGEE may proceed pursuant to law, to foreclose on said property, and out of the proceeds from such foreclosure, the MORTGAGEE shall retain all sums due it under said Promissory Note, together with the costs and charges of making such foreclosure, including a reasonable attorney's fee. LABARGE WATER SUPPLY MORTGAGE Page 1 of 2 The provisions of this mortgage shall apply to and be binding upon the representatives, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the MORTGAGOR by and through its duly authorized representatives, has hereunto set their hands and seal on the day and year first above written. Attest: andis Kjar, Clerk Tfi asurer STATE OF WYOMING ss. COUNTY OF LINCOLN The foregoing st u ent w. rrowledged before me by this (o day of .mi 4 c,OLENT Witness my hand and official seal. My commission expires 2011. v.r, S E. >I_UC ,,TATE OF WYOMING i EMBER 1 5� TOWN OF LABARGE By: arty Ste p, Mayor RJ052611 /F 000080 LABARGE WATER SUPPLY MORTGAGE Page 2 of 2