Loading...
HomeMy WebLinkAbout966880Mortgage A. Upon the execution of this Mortgage and Promissory Note "Note the Mortgagor agrees and states that the Mortgagor owes the Mortgagee the amount of ONE HUNDRED SIXTY THOUSAND DOLLARS AND NO CENTS ($160,000), and will pay the Mortgagee this amount plus interest, late charges and penalties, pursuant to the terms of this Mortgage and Note. B. Interest will be charged on unpaid principal until the full amount of principal has been paid. Mortgagor will pay interest at a yearly rate of 4.00 The interest rate required by this Section 2 is the rate Mortgagor will pay both before and after any default described below. 00283 KNOW ALL MEN BY THESE PRESENTS, that BENJAMIN A. MAVY and MEGAN M. MAVY, 1455 CR -122 Thayne, WY 83127, (hereafter "Mortgagor to secure the payment of the principal sum of ONE HUNDRED SIXTY THOUSAND DOLLARS AND NO CENTS ($160,000), as evidenced by a Promissory Note herewith, to the order of KEVAN LARSEN and PATRICIA LARSEN, 1595 CR 125 Thayne, WY 83127, (hereafter "Mortgagee to be paid as follows: C. Mortgagor will pay principal and interest by making payments every month. Interest will not begin accruing until November 1, 2012, and the first monthly payment will be due December 1, 2012. Mortgagor will make my monthly payments on the 1 day of each month. Mortgagor will make these payments every month until Mortgagor has paid the entire principal and interest and any other charges described below that Mortgagor may owe under this Mortgage. Mortgagors' monthly payments will be applied first to interest, second to any late charges, and the balance to principal. Unless otherwise agreed, monthly payments will be delivered to 1595 CR 125 Thayne, WY 83127 Mortgagors' monthly payment will be in the amount of U.S. $763.86 D. Mortgagor has the right to make payments of principal at any time before they are due. A payment of principal only is known as a "prepayment." At any time Mortgagor may make a full prepayment or partial prepayments without paying any prepayment charge. Mortgagee will use all of Mortgagors prepayments to reduce the amount of principal that Mortgagor owes under this Mortgage. If Mortgagor makes a partial prepayment, there will be no changes in the due date or in the amount of Mortgagors monthly payment unless the Mortgagee agrees in writing to those changes. E. Mortgage shall be assumable by Spouse, Widower, or heirs of Mortgagor without a change in. terms. F. Mortgagor shall keep the improvements now existing or hereafter erected on the property insured against loss by fire. This insurance shall be maintained in the amounts of a minimum equal to the principal balance of the Mortgage. G. If the Mortgagee has not received the full amount of any monthly payment by the end of 7 calendar days after the date it is due, Mortgagor will pay a late charge to the Mortgagee. The amount of the charge will be $20. Mortgagor will pay this late charge promptly but only once on each late payment. If Mortgagor does not pay the full amount of each monthly payment on the date it is due, Mortgagor will be in default. If Mortgagor is in default for longer than 90 days, the Mortgagee may send a written notice telling Mortgagor that if he does not pay the overdue amount by a certain date, the Mortgagee may require him to pay immediately the full amount of principal which has not been paid and all the interest that Mortgagor owes on that amount. That date must be at least 30 days after the date on which the notice is delivered RECEIVED 9/19/2012 at 9 :29 AM RECEIVING 966880 BOOK: 794 PAGE: 283 JEANNE WAGNER 1 INIl i r' 1 1k IT/ /11 cnv vrR AA nr n rn 111A/ or mailed to Mortagor. If Mortgagee has required Mortgagor to pay immediately in full as described above, Mortgagee will have the right to be paid back by Mortgagor for all of its costs and expenses in enforcing this Mortgage to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorney's fees. H. Unless applicable law requires a different method, any notice that must be given to Mortgagor under this Mortgage will be given by delivering it or by mailing it by first class mail to Mortgagor at the Property Address above or at a different address if Mortgagor gives Mortgagee a notice of Mortgagors different address. Any notice that must be given to Mortgagee under this Note will be given by mailing it by first class mail to the Mortgagee at the address stated above or at a different address if Mortgagor is given a notice of that different address. If more than one person signs this Mortgage, each person is fully and personally obligated to keep all of the promises made in this Mortgage, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Mortgage is also obligated to do these things. Any person who takes over the obligations of a guarantor, surety or endorser of this Mortgage, is also obligated to keep all of the promises made in this Mortgage. J. Governing Law; Severability; Rules of Construction. This Mortgage shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Mortgage are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Mortgage or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. K. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shall release this Mortgage. Mortgagor shall pay any recordation costs. Mortgagee may charge Mortgagor a fee for releasing this Mortgage, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. L. Waivers. Mortgagor releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. IN WITNESS WHEREOF, this document executed the day of5ar, 2012. BY SIGNING BELOW, MORTGAGOR ACCEPTS AND AGREES TO THE TERMS AND COVENANTS CONTAINED IN THIS MORTGAGE AND IN ANY RIDER EXECUTED BY MORTGAGOR AND RECORDED WITH IT. X O28 STATE OF WYOMING )SS. COUNTY OF LINCOLN) SUBSCRIBED AND SWORN to me this day of My Commission Expires: STATE OF WYOMING )SS. COUNTY OF LINCOLN SUBSCRIBED AND SWORN to me this day of My Commission Expires: m 1■101AR'Y PUBLIC z:alF OF M?t'c)PzgiNia V if ?LS FEUFtlif■n' 7, /Z NOTARY PUBLIC 2012, by BENJAMIN A. MAVY. HEIDI BROWN County 4n: Lincoiv 1 1'ds i:aati; :iTARY PUBLIC State of Wyoming Er August 5, 2013 ©2 8 G 2012, by MEGAN M. MAVY. PROPERTY DESCRIPTION 1 455 Dana Street, Thayne, Wyoming, more particularly described as: A portion of the SE1 /4NE1 /4 of Section 24, T34N, R199W, 6th P.M., Lincoln County, Wyoming and being more particularly described as follows: BEGINNING at an iron spike found marking the E1/4 Corner of said Section 24 and running thence N 89 46'38 "W, along the South line of Said SE1 /4NE1 /4, 296.00 feet; thence S89 46'38 "E parallel with said South line, 300.00 feet to said East line, thence South, along said East line, 296 feet to the point of beginning. Containing 2.039 acres of land, more or less. AO283