HomeMy WebLinkAbout963517RECEIVED 3/F 3t 9:45 AM
RECEIVING 963517
BOOK: 782 PAGE: 380
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
CORRECTION MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, that Shane R. Crook and Michelle L. Crook,
husband and wife, herein referred to as mortgagor, of 102894 U.S. Highway 89, Freedom, WY
83120, to secure the payment of the principal sum of $600,000.00, with interest as evidenced by a
Promissory Note dated of even date herewith to the order of Ronald F. Crook and Barbara E.
Crook, as Trustees of the Ronald Crook Family Trust dated February 1, 2001, herein referred to as
mortgagee, of 103078 U.S. Highway 89, Freedom, WY 83120, principal and interest payable as
follows:
together with interest thereon at the rate of 3.81 per annum from January 5, 2011,
until paid, in equal, monthly amortized installments of principal and interest in the
amount of $2,437.20 beginning February 5, 2011 and continuing on the 5th day of
every month thereafter until the entire debt including principal and accrued interest
has been paid in full. This is an amortization of $600,000.00 payable together with
interest at 3.81% in monthly installments over a term of 40 years. All payments
made shall be applied first to any applicable late charges, then to accrued interest
on the unpaid principal balance and then to principal. Until January 1, 2021,
prepayments of principal may not be made without Mortgagee's prior written
consent. Thereafter, prepayments of principal may be made in any amount at any
time.
80- Acres:
Section 3, Township 34 North, Range 119 West, 6 P.M.:
The North Half of the Southeast Quarter (N1/2SE1/4) Except that portion previously
conveyed to Lincoln County for Highway purposes, recorded 2 -3 -1932, Book 17
Deeds, page 236
SUBJECT, however, to all restrictions, reservations, easements and rights -of -way of
record or in use.
hereby mortgages to mortgagee, the following described real estate, situated in the County of
Lincoln, State of Wyoming:
Farm Property:
1.) The North Half of the North Half of the Southwest Quarter (N1/2N1/2SW1/4)
of Section 2, Township 34 North, Range 119 West, 6th P.M., Wyoming.
2.) The S1/2NW1/4 of Section 2, Township 34 North Range 119 West, 6th P.M.,
Wyoming, LESS the following described tracts of land: (1) Beginning at a point which
is 10 rods South of the Northwest corner of the SW1 /4NW1/4 of Section 2, T 34 N,
R119 W, 6th P.M., Wyoming, and running thence East 12.65 rods, thence South
12.65 rods, thence West 12.65 rods, thence North 12.65 rods to the point of
beginning; and (2) Beginning at the NW corner of SW1 /4NW1/4 and running thence
East 16 rods, thence South 10 rods, thence West 16 rods, thence North 10 rods to the
point of beginning, all in Section 2, T34N, R119W. Together with all water, water
rights, ditches and ditch rights and other appurtenances thereunto belonging.
Containing 1 acre, more or less.
3.) The S1/2SE1/4 of Section 3, Township 34 North, Range 119 West, 6th P.M.,
Wyoming.
4.) Beginning at the East 1/4 corner of Section 3, Township 34 North, Range 119
West, 6th P.M., Wyoming, and running thence North 30 rods, thence West 40 rods,
thence South 30 rods, thence East 40 rods to the point of beginning LESS the
following described land: Beginning at the E1/4 Corner of Section 3, T 34 N, R119
W, 6th P.M., Wyoming (said beginning point being on or near the centerline of the
U.S. Highway 89), and running thence West, along the South Boundary line of the
NE1 /4 of said Section 3, 247 feet, thence North 221.1 feet, thence East 247 feet, more
or less, to the East boundary line of said Section 3, thence South, along said East
boundary line, 221.1 feet, more or Tess, to the point of beginning.
5.) The S1/2N1/2SW1/4 of Section 2, Township 34 North, Range 119 West, 6th
P.M., Wyoming.
6.) Beginning at the Northeast Corner of Section 3, Township 34 North, Range
119 West and running thence West 160 rods, thence South 160 rods, thence East
120 rods, thence North 30 rods, thence East 40 rods, thence North 130 rods to the
place of beginning and containing 152.5 acres, more or less, the highway right of way
being included in the tract described.
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7.) A tract of land situated in Lot 4, Section 2, T34N, R119W of the 6th P.M.,
Wyoming, all Tying easterly of the Right of Way boundary of the presently existing
U.S. Highway No. 89, described as follows:
Beginning at the Northwest corner of the SW1 /4NW1/4 of Section 2, T34N, R119W
and running thence North 362 feet; thence East 365 feet; thence South 362 feet;
thence West 365 feet to the point of beginning.
EXCEPTING THEREFROM the following described tract of land previously
conveyed to Shane R. Crook and Michelle L. Crook, husband and wife, in that
certain Correction Quitclaim Deed dated January 28, 2004, and recorded in the
office of the Lincoln County Clerk on February 24, 2004, in Book 548, page 738,
Recording No. 897445:
A portion of the Crook property as referred to in the Deed recorded in Book 462PR,
on Page 817, with the Office of the Clerk of Lincoln County, Wyoming, within the
W1/2 of Section 2, T34N, R119W of the 6th P.M., Lincoln County, Wyoming, the
metes and bounds being more particularly described as follows:
BEGINNING at an Aluminum Cap on Iron Pipe marking a Point in the South line of
said S1/2NW1/4, said Point of Beginning being 890.12 feet S88 °59'26 "E, along said
South line from the Witnessed P.K. Nail marking the Southwest Corner of said
S1/2NW1/4; thence N0 30'26 "E, 180.00 feet to an Aluminum Cap on Iron Pipe;
thence S88 °59'26" E, 484.96 feet to an Aluminum Cap on Iron Pipe; thence
S1 °45'50 "E, 90.23 feet to an Aluminum Cap on Iron Pipe marking the beginning of a
157.50 feet Radius Curve to the Right; thence Southwesterly, along said Curve to
the Right through a central angle of 34 °15'16" an arc length of 94.16 feet, said curve
having a chord bearing of S15 °21'48" W, 92.77 feet to an Aluminum Cap on Iron
Pipe marking a point in said South line; thence N88 °59'26 "W, along said South line,
464.75 feet to the Point of Beginning, containing 2.000 Acres of land.
GRANTING AND RESERVING THEREFROM: A 60 feet wide Nonexclusive Right
of -Way Easement, for Ingress, Egress and Utilities, the Center Line being more
particularly described as follows:
BEGINNING at said Southwest Corner of the S1/2NW1/4; thence S88 °59'26 "E,
along said South line, 1,375.08 feet to the Aluminum Cap on Iron Pipe marking the
Southeast corner of the above described property.
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including all buildings and improvements thereon or that may hereafter be erected thereon;
together with hereditaments and appurtenances and all other rights thereunto belonging, or in
anywise now or hereafter appertaining, and the reversion and reversions, remainder and
remainders, rents, issues, and profits thereof, and all plumbing, heating, and lighting fixtures and
equipment now or hereafter attached to or used in connection with the premises.
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.
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
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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 ten percent (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 himself 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 7 hereof, and then to the payment of the balance due on
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.
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9. In case of any default whereby the right of foreclosure occurs hereunder, 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 during the pendency of
foreclosure proceedings and the period of redemption, if there is any; 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, after any such default, including the time covered by foreclosure proceedings and
the period of redemption, if there is any, 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 on ex parte application and without notice (notice being hereby expressly
waived, and the appointment of any such receiver on any such application without notice being
hereby consented to by mortgagor on mortgagor's own behalf), 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. 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
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 less 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.
11. 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.
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12. 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.
13. The obligation to make installment payments under this mortgage shall terminate
and be of no further force or effect upon the death of the last to die of Ronald F. Crook and
Barbara E. Crook.
THIS CORRECTION MORTGAGE IS MADE TO CORRECT THE LEGAL
DESCRIPTION IN THAT CERTAIN MORTGAGE BETWEEN MORTGAGORS
AND MORTGAGEES DATED JANUARY 1, 2011, AND RECORDED IN THE
OFFICE OF THE LINCOLN COUNTY CLERK ON FEBRUARY 17, 2011, IN
BOOK 762, PAGE 672, RECEIVING NO. 958174.
By their signatures below, Mortgagees hereby consent to the corrected legal description
set forth above in this Correction Mortgage.
IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the 15th day of
December, 2011.
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Shane R. Crook
Michel Crook
Ronald F. Crook, Trustee
00386
AP n/I
Barbara E. Crook, Trustee
STATE OF WYOMING
COUNTY OF LINCOLN
ss.
The foregoing Correction Mortgage was acknowledged before me by Shane R. Crook and
Michelle L. Crook, husband and wife, this 15th day of December, 2011.
Witness my hand and official seal.
GERALD L. GOULDING
County of i State of
Lincoln Wyoming
My Commission Expires May 2, 2015
NOTARY PUBLIC
My commission expires: May 2, 2015.
STATE OF WYOMING
COUNTY OF LINCOLN
ss.
The foregoing Correction Mortgage was acknowledged before me by Ronald F. Crook and
Barbara E. Crook, as Trustees of the Ronald Crook Family Trust dated February 1, 2001, this
7 day of Mar 201
Witness my hand and official seal.
GERALD L GOULDING NOTARY PUBLIC
County of State of
Lincoln Wyoming
My Commission Expires May 2, 2015
My commission expires: May 2, 2015.
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NOTARY PUBLIC
NOTARY PUBLIC
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