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HomeMy WebLinkAbout968288MORTGAGE Greys River Ranch LLC, a Wyoming limited liability company, whose address is P.O. Box 550, Afton, Wyoming 83110, 'Mortgagor," to secure the payment of One Hundred Thousand D011EffS ($100,000.00) as evidenced by a Promissory Note (hereinafter the "Note") of even date herewith, and all other amounts due thereunder and all extensions and renewals thereof, when and as the same shall become due and payable hereby mortgages and warrants to Alvin Robinson, 'Mortgagee" and Mortgagees successors and assigns, the real property in Lincoln County, Wyoming described as: See attached Exhibit A TOGETHER WITH all easements and rights of way appurtenant thereto, alt buildings, structures, improvements, fixtures, appliances, equipment, and other articles of real or personal property of every kind and nature (other than consumable goods), whether or not physically attached or affixed to said property and now or hereafter installed or placed thereon, and used in connection with any future operation thereof, it being intended and agreed that such items be conclusively deemed to be affixed to and to be part of the property that is mortgaged hereby, all water and water rights, all shrubs, trees, crops, and plants, and all claims, demands, or causes of actions of every kind (including proceeds of settlements of any such claim, demand, or cause of action of any kind) which Mortgagor now has or may hereafter acquire arising out of acquisition or ownership of the property, including any award of damages or compensation for injury to or in connection with any condemnation for public use of the property to any part thereof (whether or not eminent domain proceedings have been instituted); however, Mortgagee shaft have no duty to prosecute any such claim, demand or cause of action; ALSO TOGETHER. WITH all rents, issues, profits, royalties, tools, earnings, and incomes therefrom and installments of money payable pursuant to any agreement for sale of said property or any part thereof, to all of which Mortgagor represents that it has title free and from any prior liens or encumbrances (all of the above being collectively referred to as the 'Premises"). THE MORTGAGOR BER,EBY COVENANTS AND AGREES WITH THE MORTGAGEE AS FOLLOWS: 1. This Mortgage is given to secure payment and the Mortgagor promises to pay to Mortgagee the amount of One Hundred Thousand Dollars (S100,000,00) as evidenced by a Promissory Note of even date herewith, and all other amounts due thereunder and all extensions and renewals thereof, when and as the same shall become due and payable. Each such payment shall be applied first to the payment of interest and any balance remaining after the payment of interest shall be applied to the reduction of the unpaid principal balance. 2. Time is of the essence and if any amount shall not have been paid when due as provided in this Note, the entire indebtedness may become due and payable at once at the option of the holder and without notice; failure to exercise this option howsoever often shall not constitute a waiver of the right to exercise it thereafter. If any other event of default shall occur as provided in the Note or this Mortgage, and if Mortgagor after receiving written notice from Mortgage Page 1 of ,6 00595 RECEIVED 12/3/2012 at 11:50 AM RECEIVING 968288 BOOK: 799 PAGE: 595 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 00596 Mortgagee demanding cure of such default fails to cure the same within 15 days after such notice, the entice indebtedness may become due and payable at once at the option of the Mortgagee and without notice; failure to exercise this option howsoever often shall not constitute a waiver of the right to exercise it thereafter. 3. Mortgagor will pay the indebtedness hereby secured promptly and in full compliance with the terms of said Note and this Mortgage. The time of payment of said indebtedness, or any portion thereof, may be extended or renewed, and any portions of the Premises herein described may, without notice, be released from the lien hereof, without releasing or affecting the liability for the payment of said indebtedness then remaining unpaid. No change in the ownership of said Premises shall release, reduce or otherwise affect any such liability for the lien .hereby created. It is further agreed that the taking of additional security of any nature shall not impair or release this Mortgage; and as a further security this Mortgage shall become due and payable in full at the option ofthe Mortgagee if the Mortgagor or Mortgagor's legal representatives, successors or assigns shall convey the mortgaged Premises or if legal or equitable title thereto shall become vested in any other person or persons in any manner whatsoever excepting those conveyances approved in writing by Mortgagee. The acceptance of any payment on the Note by the Mortgagee shall not constitute a waiver of this option, and consent to any one such conveyance shall not constitute consent to any subsequent conveyance or a waiver of this option. 4. Mortgagor shall pay or cause to be paid all taxes and assessments levied or assessed against the Premises, and shall comply with all recordation and other laws affecting the security of this Mortgage at the expense of Mortgagor. 5. Mortgagor will keep the Premises free and clear of all other liens and encumbrances which may be or become superior to the lien created hereby. 6. Mortgagor will not commit or permit waste on the Premises and will keep and maintain the Premises in good repair. 7. Mortgagor will pay all expenses and attorney's fees incurred by the Mortgagee, successors or assigns, for the protection ofthe lien of this Mortgage or for the collection of any amount due on the instrument which this Mortgage secures or for the preservation of the Premises mortgaged. 8. Mortgagor will comply promptly, at the expense of the Mortgagor, with all laws, statutes, ordinances and regulations affecting the Premises in any manner whatsoever. 9. Mortgagor will pay to or cause to be paid directly to the Mortgagee, for application upon the indebtedness secured hereby, the full amount of any award or compensation for the taking or damaging by condetnnation proceedings under the power of eminent domain of all or any part ofthe mortgaged Premises. 10. In case of the failure of the Mortgagor to do so, the .Mortgagee may make any payment or perform any covenant .herein to be made or performed by the Mortgagor, and any Mortgage Page of 6 payment so interest at a shall be imp thereupon sec together with said Premises 12, the expiratro of competent at once and Premises to the pendency shall expire, condition an taxes assess the Premises of the recei indebtedness in such cases 13. the receipt over to the mortgaged P default as pr ade or expense incurred in connection therewith by the Mortgagee shall bear to of 1 O% per annum, and shall be immediately repayable by the Mortgagor, and ssed as an additional lien upon the mortgaged Premises, and this Mortgage shall ire the repayment of such advances with interest. 11. In case an event of default shall occur in making payments or performing any other coven is or agreement required of Mortgagor as provided in the Note or this Mortgage, the Mortgago hereby authorizes and empowers the Mortgagee, and Mortgagee's successors and assigns to for dose this Mortgage by advertisement and sale as provided by the statutes of the State of Wyo ing or to foreclose this Mortgage by judicial proceedings and convey the same to the purchaser in accordance with the statutes of the State of Wyoming, and out of the monies arising from uch sale to retain all sums secured hereby with interest and all legal costs and charges of s h foreclosure and actual attorney's fees incurred by Mortgagee (or such other amount as sh II be fixed by the Court in the event of judicial foreclosure or receivership), which costs, charges and fees the Mortgagor agrees to pay. In case of the foreclosure of this Mortgage, the Mortgag r hereby authorizes and empowers the Mortgagee, Mortgagee's successors and assigns, to a et insurance upon any buildings and fixtures on the Premises for a period covering the time for emption for the sale of the Premises under such foreclosure, and to pay the premium the for and the amount so paid shall be impressed as an additional lien upon the Premises and hall be secured by and be collectible as a. part of this Mortgage and bear interest at the rate of 1 t %o per annum, from the date said amount is paid. In the event of a foreclosure,. Mortgagor h- °by authorizes and empowers Mortgagee, Mortgagee's successors and assigns, to bring an acti n against any person who claims an adverse estate or interest therein for the purpose of d 1 ermining such adverse estate or interest, and to pay costs and expenses thereof actual attorney's fees which amount shall be impressed as an additional lien upon and shall be secured by and collectible as a part of this Mortgage. Upon commencement of any foreclosure, or at any time thereafter, and prior to of the time for redemption from any sale of the Premises on foreclosure, any court isdiction, upon application of the Mortgagee, or the purchaser at such sale, shall, hout notice to the Mortgagor or any other person, appoint .a receiver for said e possession thereof, to collect rents, issues and profits of said Premises during of such foreclosure and until the time to redeem the same from the foreclosure sale and out of rents, issues, and profits to keep the Premises in good repair and to pay all taxes, assessments, and special assessments, and to redeem from sale for ents, and special assessments, and to pay insurance premiums necessary to keep nsured in accordance with the provisions of this Mortgage 'and to pay the expense ership, and said receiver shall apply the net proceeds to the payment of the ecured hereby, and such receiver shalt have all the other usual powers of receivers In consideration ofthe sum often dollars ($1O) and other valuable consideration, ereof hereby is acknowledged, the Mortgagor hereby assigns, transfers and sets ortgagee, Mortgagee's successors and assigns, the rent, profits and income from the miles with full and complete authority and right in the Mortgagee in case of vided for in this Mortgage or the Note to demand, collect, receive and receipt for Mortgage Page 3 of 6 00597 the same and to take possession ofthe mortgaged. Premises without having a receiver appointed therefor and to rent and manage the same from time to time and apply the net proceeds of such upon the indebtedness. Mortgagor hereby assigns to Mortgagee all leases of the mortgaged Premises or any part thereof which are now or may be in effect hereafter, such assignment to take effect immediately in case of such default. Mortgagee is hereby authorized to take charge of the rental ofthe above described. Premises and is hereby authorized to collect rents from said Premises, to eject tenants for breach of their leases and to enter into leases with and lease said Premises or any part thereof to tenants, to sue for unpaid rents in the name of the legal holder of said indebtedness, and is to receive for services in managing said Premises the usual and customary fees for such service in effect in Laramie County, Wyoming at the time said services are performed. Without Limiting the generality of the foregoing, in case of default, the Mortgagor further agrees as follows: a. Notice to Tenants. Mortgagee may send notices to any and all tenants of the Premises advising them of this Assignment and directing all rents to be paid directly to Mortgagee or Mortgagee's agent. b. Enter the Premises. Mortgagee may enter upon and take possession of the Premises; demand, collect and receive from the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Premises, including such proceedings as may be necessary to recover possession of the Premises; collect the rents and remove any tenant or tenants or other persons from the Premises. Mortgage Page 4 of 6 00b98 c. Maintain the Premises. Mortgagee may enter upon the Premises to maintain the. Premises and keep the same in repair; to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Premises in proper repair and condition, and also to pay all taxes, assessments, and water utilities, and the premiums on fire and other insurance effected by Mortgagor on. the Premises. d. Compliance with Laws. Mortgagee may do any and all things to execute and comply with the laws of the State of Wyoming and also all other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Premises. e. Lease the Premises. Mortgagee may rent or lease the whole or any part of the Premises for such term or terms and on such conditions as Mortgagee may deem appropriate. Employ Agents.. Mortgagee may engage such agent or agents as Mortgagee may deem appropriate, either in Mortgagee's or Mortgagor's name, to rent and manage the Premises, including the collection and application of rents. g. Other acts. Mortgagee may do all such other things and acts with respect to the Premises as Mortgagee may deem appropriate and may act exclusively and solely in the place and stead of Mortgagor and to have all of the powers of Mortgagor for the purposes stated above. h, No Requirement to Act. Mortgagee shall not be required to do any of the foregoing acts or things, and the fact the Mortgagee shall have performed one or more of the foregoing acts or things shall not require Mortgagee to do any other specific act or thing. 14. Mortgagor hereby grants to Mortgagee a security interest in the personal property located on or at the Premises, including without limitation any and all property of similar type or kind hereafter located on or at the Premises for the purpose of securing all obligations of Mortgagor contained in the Note and this Mortgage. 15. Failure to exercise any right, power or options herein granted to the Mortgagee, howsoever often shall not constitute a waiver thereof and shall not estop the Mortgagee from exercising any such right, power or option at any time or upon any subsequent default 'of the Mortgagor. All rights and remedies given or reserved to the Mortgagee herein shall be cumulative and may be exercised contemporaneously but the exercise of one or more such rights or remedies shall not exclude or prevent the exercise of Mortgagee's other rights or remedies. 16. The Mortgagor specifically warrants that Mortgagor is fully authorized to enter into this Mortgage, and that the acquiescence or approval of no other person is required for Mortgagor to enter into same on the terms found herein. 17. Mortgagor agrees that all of the terms and conditions contained in the Note are incorporated into and made part of this mortgage. 19. This Mortgage shall be construed according to the laws of the State of Wyoming. 18. All warranties, covenants, promises, undertakings, agreements, rights, powers, privileges, benefits, obligations and remedies imposed upon or granted or reserved unto the said parties by this instrument shall survive the execution. and delivery hereof and shall respectively extend to and be binding upon the respective heirs, executors, administrators, successors and assigns of said parties. Mortgage Page 5 of 6 00599 IN WITNESS WHEREOF, the parties have signed and sealed this Mortgage this 9 day of November, 2012. STATE OF WYOMING SS. COUNTY OF LINCOLN On thi07 day of Oove"Aav 2012, the foregoing instrument was acknowledged before me by Daniel Schwab, who acknowledges to be the Managing Member of Greys River Ranch, LLC and that said instrument was signed and sealed an behalf of said limited liability company by authority of its members for the purposes therein contained, and said signee acknowledges said instrument to be the free at and deed of said limited fability company. Witness my hand and official seal. My commission expires: SEAL Dyanna Porker- Notary Public County of Lincoln My Commission Ex Ires State of Wyoming BY- Greys River Ranch, LLC, Mortgagor Daniel Schw Mortgage Page 6 of 6 Exhibit "A" Beginning at a point 113.13 feet S2 °23'41 "W along the boundary of HES 116 from Corner No. 5 of the HES 116 Homestead Survey located in T34N, R1 16W of Lincoln County, Wyoming as proceeding thence; S02 °23'41 "W 574.77 feet along said boundary of HES 116, thence S 87 °24'00 "W 187.87 feet to the center of the US Forest ROW, thence N 02 °36'38 "W 471.57 feet along the centerline of said ROW, thence N 73 °49'42 "E 247.58 feet to the point of beginning. 00601.