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HomeMy WebLinkAbout970393THIS MORTGAGE, made this 11 day of May, 2009, between Timothy J Bommer, whose address is P.0 Box 5186, Etna, WY 83118, hereinafter referred to as the "Mortgagor," and Vicki K. Rohan, whose address is 9475 W. Tonto Ln. Peoria, AZ 85382, hereinafter referred to as the "Mortgagee." Mortgagor, for and in consideration of the sum of One hundred forty five thousand Dollars ($145,000,00) paid to or on behalf of the Mortgagor by the Mortgagee in fact or in kind, the receipt of which is hereby confessed and acknowledged, does hereby grant, bargain, sell and convey to the Mortgagee, the following described real property situated in Lincoln County, Wyoming: SEE EXHIBIT "A" ANNEXED HERETO together with all buildings and improvements thereon, or which may hereafter be placed thereon; all fixtures now or hereafter attached to said premises; all water and water rights, ditches and ditch rights, reservoirs and reservoir rights, and irrigation and drainage rights, and all easement, appurtenances and incidents now or hereafter belong or appertaining thereto; subject, however, to all conditions, easements, and rights -of -way, and to mineral, 3 mining and other exceptions, reservations and conditions of record. RECEI\ )/2013 at 9:41 AM RECEIVING 970393 BOOK: 808 PAGE: 702 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY MORTGAGE TO HAVE AND TO HOLD the said real property forever, the Mortgagor hereby relinquishing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. Mortgagor covenants that at the signing and delivery of this mortgage, said Mortgagor is lawfully seized in fee simple of said real property, or has such other estate as is stated herein; has good and lawful right to mortgage, sell and convey all of said property; and warrants and will defend the title to all of said property against all lawful claims and demands, and that the same is free from all encumbrances. This Mortgage is not assumable by any other party or parties unless agreed to, in writing, by the Mortgagee. This Mortgage is subject to the express condition that if the Mortgagor pays, or causes to be paid, to the Mortgagee the sums due in the Promissory Note of even date, 0 '1 0 0 iO3 and set forth all of the covenants and agreements herein to be performed by Mortgagor, then this Mortgage and said Note shall cease and be null and void. Mortgagor and Mortgagee further covenant and agree as follows: 1. Mortgagor shall pay the indebtedness as herein provided, and the lien of this instrument shall remain in full force and effect during any postponement or extension of the time of payment of any part of the indebtedness secured hereby. 2. Mortgagor shall pay all taxes and assessments levied or assessed against said property, unless otherwise agreed to by the parties. 3. Mortgagor shall not commit or permit waste, nor be negligent in the care of said property, and shall maintain the same in as good condition as at present, reasonable wear and tear excepted, and will do nothing on or in connection with said property which may impair the security of the Mortgagee hereunder. Mortgagor shall not permit said property, or any part thereof, to be levied upon or attached in any legal or equitable proceeding, and shall not, except with the consent in writing of the Mortgagee, or as is otherwise provided and permitted in the Mortgage, remove or attempt to remove said improvements or fixtures, or any part thereof, from the premises on which the same are situated. 1. As collateral and further security for the payment of the indebtedness hereby secured, Mortgagor shall keep the improvements now existing or hereinafter erected on said premises insured against Toss by fire, with extended coverage provisions, in a sum not less than the full insurable value for the term of this Mortgage, and will pay when due all premiums on such insurance. All insurance shall be carried in responsible insurance companies and the policies and renewals thereof shall have attached thereto loss payable clauses in favor of the Mortgagee, be applied either to the reduction of the indebtedness hereby secured or paid to the Mortgagor. Proof of such insurance shall be provided to the Mortgagee within thirty days of written request. 2. If Mortgagor defaults in the payment of the taxes, assessments or other lawful charges or fails to keep the improvements on said premises insured as herein provided, the Mortgagee may, without notice or demand, pay the same or effect such insurance, and if the Mortgagor fails to keep the property in good repair, the Mortgagor may make such repairs as may be necessary to protect the property, all at the expense of the Mortgagor. 2 3 The Mortgagor covenants and agrees that all such sums of money so expended, together with all costs of enforcement or foreclosure, and a reasonable attorney fee, shall be added to the debt hereby secured, and agrees to repay the same and all expenses so incurred by the Mortgagee, with interest thereon from the date of payment at the same rate as provided in the Note hereby secured, until repaid, and the same shall be a lien on all of the said property and be secured by this Mortgage. 3. If the Mortgagor defaults in the payment of the indebtedness hereby secured or if the Mortgagor removes or attempts to remove any of said improvements or property contrary to the provisions of this Mortgage, or in case of breach of any covenant or agreement herein contained, the whole of the then indebtedness secured hereby, both principal and interest, together with all other sums payable pursuant to the provisions hereof, shall, at the option of the Mortgagee, become immediately due and payable, anything herein or in said Note to the contrary notwithstanding, and failure to exercise said option shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. The Mortgagee may enforce the provisions of, or foreclose this mortgage by any appropriate suit, action or proceeding at law or in equity, and cause to be executed and delivered to the purchaser or purchasers at any foreclosure sale a proper deed of conveyance of the property so sold. The Mortgagor agrees to pay all costs of enforcement or foreclosure, including a reasonable attorney fee. The failure of the Mortgagee to promptly foreclose upon a default shall not prejudice any right to foreclose in case of further default or defaults. The net proceeds from such sale shall be applied to the payment of (1 the costs and expenses of the foreclosure and sale, including a reasonable attorney fee, and all moneys expended or advanced by the Mortgagee pursuant to the provisions of this Mortgage; (2 11 d) all unpaid taxes, assessments, claims and liens on said property, which are superior to the lien hereof; (3 rd) the balance due Mortgagee on account of principal and interest on the indebtedness hereby secured; and the surplus, if any, shall be paid to the Mortgagee. 4. If the property described herein is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness hereby secured, the Mortgagor executing the Note for which this Mortgage is security shall be bound to pay the unpaid balance, and the Mortgagee shall be entitled to a deficiency judgment. 5. If the right of foreclosure accrues as a result of any default hereunder, the Mortgagee shall at once become entitled to exclusive possession, use and enjoyment of all property aforesaid, 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, and such possession, rents, issues and profits shall be delivered immediately to the Mortgagee on request. On refusal, the delivery of such possession, rents, issues and profits may be enforced by the Mortgagee by any appropriate suit, action or proceeding. Mortgagee shall be entitled to a Receiver for said property and all rents, issues and profits thereof, after any such default, including the time covered by foreclosure proceedings and the period of redemption, and without regard to the solvency or insolvency of the Mortgagor, or the then owner of said property, and without regard to the value of said property, or the sufficiency thereof to discharge the mortgage debt and foreclosure costs, fees and expense. Such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, notice being hereby expressly waived, and the appointment of any such Receiver on any such application without notice is hereby consented to by the Mortgagor. All rents, issues and profits, income and revenue of said property shall be applied by such Receiver according to law and the orders and directions of the court. 6. The acceptance of this Mortgage, and the Note it secures, by the Mortgagee shall be an acceptance of the terms and conditions contained therein; and a duly executed and delivered release of this Mortgage by any one or more of the Mortgagees shall be a valid and effective release as to all of said Mortgagors, and of said Mortgage. 7. The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, devisees, legatees, 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. The terms "foreclosure" and "foreclose as used herein, shall include the right of foreclosure by any suit, action or proceeding at law or in equity, or by advertisement and sale of said premises, or in any other manner now or hereafter provided by Wyoming statutes, including the power to sell. 4 0 IN WITNESS WHEREOF, this Mortgage has been executed by the Mortgagor to be effective on the date first above written. STATE OF ARIZONA COUNTY OF MARICOPA ss. ACKNOWLEDGEMENT On this 11 day of May, 2009, before me personally appeared Timothy J Bommer to me known to be the person described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of homestead. Given under my hand and seal the date first written above. OFFICIAL SEAL DANA L PAYNE NOTARY PUBLIC State of Arizona MARICOPA COUNTY My Conlin. Expires Oct. 20, 2011 My commission expires: 5 riOli Timothy J Sommer Notary Public Parcel B: A portion of the S1/2SW1/4 of Section 27 and the N1/2NW1/4 of Section 34, T36N, R119W, of the 6" P.M.., Lincoln County, Wyoming, being more particularly described as follows: BEGINNING at a Spike found at a Point in the Center Line of Roberts- Wolf ley County Road 12109, said point being 99.00 feet S70 °44'24"W from the B.L.M. type Monument found marking the W1/16th corner between Sections 27 and 34; thence N1 °04'12"W, along said Center line, 471.54 feet to an Iron Pipe set; thence East 240.33 feet to an Iron Pipe set; thence North 179,98 feet to an Iron Pipe set; thence East 219.55 feet to an iron Pipe set; thence South 654.72 feet to an Iron Pipe set thence N89 34'56"W 451.09 feet, to Point of Beginning, containing 5.854 Acres, more or less, SUBJECT TO: The Right of Way Easement, as referred to in instrument No.615295 in Book 213PR on page 524, filed with the Office of the Clerk of Lincoln County Wyoming on May 8,1984, being Roberts- Wolfley County Road 12-109. TOGETHER WITH AND SUBJECT TO: A Sixty (60) foot wide Right -of -Way and Utility Easement to and across the above described Parcel, the Center Line being more particularly described as follows: BEGINNING at a point in the Center Line of Roberts- Woifley County Road 12 -109, said point being 121.18 feet 568'48'09W from the B.L.M. type Monument found marking the CSSW1/64 Comer of Section 27; thence East 463.69 feet to the East boundary line of the above described parcel. Exhibit "A"