HomeMy WebLinkAbout971025MORTGAGE
Deadinan Ranch LLC, a Wyoming LLC whose address is P.O. Box 550, Afton, Wyoming
83110, Mortgager," to secure the payment of One Hundred Twelve Thousand Dollars
($1 12,000.00) 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 Mauri Ventures LLC,
"Mortgagee" and Mortgagee's successors and assigns, the real property in Lincoln County,
Wyoming described as:
See attached Exhibit
TOGETHER WITH all easements and rights of way appurtenant thereto, all buildings, structures,
improvements, fixtures, appliances, equipment, and other articles of real property of every kind
and nature physically attached or affixed to said property and now or hereafter installed or placed
thereon.
THE MORTGAGOR HEREBY 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 Twelve Thousand Dollars ($112,000.00) 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
Mortgagee demanding cure of such default fails to cure the same within 15 days after such notice,
the entire 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.
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RECEIVED 5/16/2013 at 3:48 PM
RECEIVING 971025
BOOK: 811 PAGE: 648
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
3. Mortgagor will pay the indebtedness hereby secured promptly and in full compliance
with the teens 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 of the 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 not commit or permit waste on the Premises and will keep and
maintain the Premises in good repair.
6. Mortgagor will pay all expenses and attorney's fees incurred by the Mortgagee,
successors or assigns, for the protection of the 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.
7. Mortgagor will comply promptly, at the expense of the Mortgagor, with all laws,
statutes, ordinances and regulations affecting the Premises in any manner whatsoever.
8 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
payment so made or expense incurred in connection therewith by the Mortgagee shall bear
interest at a rate of 1 0% per annum, and shall be immediately repayable by the Mortgagor and
shall be impressed as an additional lien upon the mortgaged Premises, and this Mortgage shall
thereupon secure the repayment of such advances with interest.
9. In case an event of default shall occur in making payments or perfonning any other
covenants or agreement required of Mortgagor as provided in the Note or this Mortgage, the
Mortgagor hereby authorizes and empowers the Mortgagee, and Mortgagee's successors and
assigns to foreclose this Mortgage by advertisement and sale as provided by the statutes of the
State of Wyoming 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 such sale to retain all suns secured hereby with interest and all legal costs and
charges of such foreclosure and actual attorney's fees incurred by Mortgagee (or such other
amount as shall be fixed by the Court in the event of judicial foreclosure or receivership), which
costs, charged and fees the Mortgagor agrees to pay. In case of the foreclosure of this Mortgage,
the Mortgagor hereby authorizes and empowers the Mortgagee, Mortgagee's successors and
assigns, to effect insurance upon any buildings and fixtures on the Premises for a period covering
the time for redemption for the sale of the Premises under such foreclosure, and to pay the
premium therefore and the amount so paid shall be impressed as an additional lien upon the
Premises and shall be secured by and be collectible as a part of this Mortgage and bear interest at
the rate of 1 0% per annum, from the date said amount is paid. In the event of a foreclosure,
Mortgagor hereby authorizes and empowers Mortgagee, Mortgagee's successors and assigns, to
bring an action against any person who claims an adverse estate or interest therein for the purpose
of determining such adverse estate or interest, and to pay costs and expenses thereof together
with actual attomey's fees which amount shall be impressed as an additional lien upon said
Premises and shall be secured by and collectible as a part of this Mortgage.
10. Upon commencement of any foreclosure, or at any time thereafter, and prior to the
expiration of the time for redemption from any sale of the premises on foreclosure, any court of
competent jurisdiction, upon application of the Mortgagee, or the purchaser at such sale, shall, at
once and without notice to the Mortgagor or any other person, appoint a receiver for said
Premises to take possession thereof, to collect rents, issues and profits of said Premises during the
pendency of such foreclosure and until the time to redeem the same from the foreclosure sale
shall expire, and out of rents, issues, and profits to keep the Premises in good repair and condition
and to pay all taxes, assessments, and special assessments, and to redeem from sale for taxes,
assessments, and special assessments, and to pay insurance premiums necessary to keep the
Premises insured at accordance with the provisions of this Mortgage and to pay the expense of
the receivership, and said receiver shall apply the net proceeds to the payment of the indebtedness
secured hereby, and such receiver shall have all the other usual powers of receivers in such cases.
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11. 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 curnulative
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.
12. 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 teens found herein.
13. Mortgagor agrees that all of the teens and conditions contained in the Note are
incorporated into and made part of this mortgage.
14. All warranties, covenants, promises, undertakings, agreements, rights, powers,
privileges, benefits, obligations and remedies unposed 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.
15. This Mortgage shall be construed according to the laws of the State of Wyoming.
IN WITNESS WHEREOF, the parties have signed and sealed this Mortgage this 3 day of
May, 2013.
Deadman Rlr ortgagor
Daniel Achwab, Nf ter /Manager
STATE OF
11 )SS.
COUNTY OF ti .70
On this t day of May, 2013, the foregoing instrument was acknowledged before me
by Daniel A. Schwab, as a member of Deadman Ranch LLC who acknowledges said instrument
to be their free act and deed. Witness my hand and official seal.
.tekti
Notary Public My commission expires: /''fri Y
KENDALL K ERICKSON
NOTARY PUBLIC WYOMING
Lincoln County
My Commission Expires May 18, 2016
XO6 1
Attachment "A"
Deadman Cabin Parcel Description
November 12, 2012
Beginning at HES Corner No. 3 of the HES 116 Homestead Survey located in T34N R116W,
Lincoln County, Wyoming and running thence:
N33 21'20E 529.55 feet to the centerline of the US Forest Service Highway right -of -way
and following the centerline of said right -of -way thence:
S69 10'38 "E 85.66 feet, thence
S83 31'38 "E 168.00 feet, thence
S66 56'38 "E 63.00 feet, thence
S59 39'38 "E 194.00 feet, thence leaving said right -of -way
S31 56'45 "W 387.24 feet to the thread of a drainage into the Greys River and following said
thread thence:
N76 58'23 "W 153.12 feet, thence
N70 35'12 "W 77.79 feet, thence
N54 20'35 "W 64.64 feet, thence
N72 16'44 "W 64.42 feet, thence
N50 39'41 "W 61.90 feet, thence
S78 55'54 "W 78.66 feet, thence
S38 37'35 "W 125.85 feet, thence leaving said thread
N51 22'25 "W 23.79 feet to the Point of Beginning
Contains approximately 4.80 acres.
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