Loading...
HomeMy WebLinkAbout870394This is a SUPPLEMENTAL MORTGAGE to Mortgage filed April q is0 i n Book 272PR, Page 485. No. 700810, Lincoln County, Wyom RETURN TO Farm Credit Services of America, P.O. Box 711 Brad W. Willford PREPARER: Kemmerer, WY 83101 -0711 (800)697 -1033 Date: December 21, 2000 Date of Note 04/14/1989 10/13/1989 10/19/1993 SUPPLEMENTAL Principal Amount 600,000.00 220, 000.00 42,000.00 870394 BOOK PR PAGE 3 4 Do not write /type above this line. For filing purposes only. Farm Credit Services of America REAL ESTATE MORTGAGE For the State of Wyoming Open End To Secure Present and Future Obligations and Advances Mortgagor(s): Paul J Etcheverry and Lynne S Etcheverry, husband and wife 00 DEC 2.1 f 1.i: 25 JEANNE WAGNER KEMMERER, WYOMING Mailing Address: 295 S Fifth Montpelier ID 83254 -0000 The above named Mortgagor(s) in consideration of the advance by Mortgagee of the principal sum specified below, the receipt of which is hereby acknowledged, and any future, additional or protective advances made at Mortgagee's option, hereby sell, convey, and mortgage to Farm Credit Services of America, FLCA, 206 S 19th Street, Omaha, NE 68102 -1745, Mortgagee, its successors and assigns, from the date hereof until all obligations secured hereby are paid in full, the fo oli wing- described real estate in Lincoln County(ies), Wyoming, to wit: Exhibit "A" attached hereto and made a part hereof. together with all Mortgagor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income, profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended, or renewed by Mortgagor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to in this document as the "property." It is understood and agreed between Mortgagor(s) and Mortgagee that this mortgage is given to secure the repayment in full of the following described promissory note(s) executed by Mortgagor(s) to Mortgagee, and all future and additional loans or advances, protective or otherwise, which may be made by Mortgagee, at its option, at the request of, and to or for the account of Mortgagor(s), or any of them, for any purpose, plus interest thereon, all payable according to the terms of the note(s) or other instrument(s) modifying the same. Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of EIGHT HUNDRED SIXTY -TWO THOUSAND DOLLARS 862,000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s). NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. This mortgage will be due January 01, 2020. Mortgagor(s) hereby warrants that Mortgagor(s) holds fee simple title to the above described property, that Mortgagor(s) has good and lawful authority to mortgage the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Mortgagor(s) will warrant and defend the property at Mortgagor's expense against all claimants whomsoever. Mortgagor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Mortgagor(s) and each of them further covenant and agree with Mortgagee as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon the property or under any lease, permit, license, or privilege assigned to Mortgagee as additional security to this mortgage, including those in or on public domain. 2. To insure and keep insured buildings and other improvements, including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Mortgagee. Such insurance will be approved by and deposited with Mortgagee, and endorsed with a mortgage clause with loss payable to Mortgagee. Any sums so received by Mortgagee may be applied in payment of any indebtedness matured or unmatured secured by this mortgage, or at the option of Mortgagee may be used to pay for reconstruction of the destroyed improvements. Such insurance will be in an amount at least equal to the lesser of th'e loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail. I /We will obtain and keep flood insurance in force to cover losses by flood as required by Lender and by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same. I /We further agree that Lender is not and will not be liable for any failure by me /us or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Mortgagee may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s). 4. In the event Mortgagor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Mortgagee, at its option, may make such payments or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) from the date of payment until paid. The advancement by Mortgagee of any such amounts will in no manner limit the right of Mortgagee to declare Mortgagor(s) in default or exercise any of Mortgagee's other rights and remedies. 5. In the event Mortgagee is a party to any litigation affecting the property or the lien of this mortgage, including any action by Mortgagee to enforce this mortgage or any suit in which Mortgagee is named a defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur Ap 00209310; Primary Customer ID 00018429; CIF 53186 Legal Doc. Da D c tuber 21, 2000 FORM 5014�;e Mortgage Page 1 expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by yaw), costs, expenses, appraisal fees, and other charges and any amounts so advanced will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) from the date of advance until paid. 6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby assigned to Mortgagee; and Mortgagee is hereby authorized to collect and apply the same in payment of any indebtedness, maturea or unmatured, secured by this mortgage. 7. In the event of default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure to perform or observe any covenants and conditions contained herein, in the note(s), loan agreement(s), or other instrument(s), or any proceeding is brought under any Bankruptcy laws, Mortgagee, at its option, may declare the entire indebtedness secured hereby to be immediately due and payable and the whole will bear interest at the default rate as provided in the note(s) and Mortgagee may immediately foreclose this mortgage or pursue any other remedy at law or equity, including foreclosure by advertisement with a power of sale in Mortgagee to the extent provided by applicable law. Delay by Mortgagee in exercising its rights upon default will not be construed as a waiver thereof and any act of Mortgagee waiving any specific default will not be construed as a waiver of any future default. If the proceeds under such sale or foreclosure are insufficient to pay the total indebtedness secured hereby, Mortgagor(s) does hereby agree to be personally bound to pay the unpaid balance, and Mortgagee will be entitled to a deficiency judgment. 8. Upon default, Mortgagee will at once become entitled to exclusive possession, use, and r:njoyment of the property and to all rents, issues, crops, profits, and income thereof, from the time of such default and during the pendency of for closure proceedings and the period of redemption, the delivery of which may be enforced by Mortgagee by any appropriate suit, action, or proceeding. Mortgagee will be entitled to a Receiver for the property and all rents, issues, crops, profits, and income thereof, without regard to the value; of the property, or the sufficiency thereof to discharge the mortgage debt and the foreclosure costs, fees, and expenses. Such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, notice being hereby expressly waived. The Receiver will apply all rents, issues, crops, profits, and income of the property to keep the same in good repair and condition, pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to keep the property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and apply the net proceeds to the payment of the indebtedness secured hereby. Such Receiver will have all the other usual powers of receivers authorized by law and as the court may direct. 9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the obligations secured hereby. Should Mortgagor(s) sell, transfer, or convey the property described herein without prior written consent of Mortgagee, Mortgagee, at its option, may declare the entire indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default. 10. Assignment of Rents including Proceeds of Mineral Leases. Mortgagor(s) hereby assigns, transfers, and conveys to Mortgagee all rents, royalties, bonuses, and delay moneys or other proceeds that may from time to time become due and payable under any real estate lease or under any oil, gas, gravel, rock, or other mineral lease of any kind including geothermal resources now existing or that may hereafter come into existence, covering the property or any part thereof. All such sums so received by Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee, at its option, may turn over and deliver to Mortgagor(s) or their successors in interest, any or at of such sums without prejudice to any of Mortgagee's rights to take and retain future sums, and without prejudice to any of its other rights under this mortgage. This assignment will be construed to be a provision for the payment or reduction of the mortgage debt, subjec to the Mortgagee's option as hereinbefore provided, independent of the mortgage lien on the property Upon payment in full of the mortgage debt and the release of this mortgage of record, this assignment will become inoperative and of no further force and effect. 11. This M. .:ge constitutes a Security Agreement with respect to all the property described herein. 12. The .ve :nts contained in this mortgage will be deemed to be severable; in the event that any portion of this mortgage is determined to be void or enf. ceable, that determination will not affect the validity of the remaining portions of the mortgage. e- aul J EtcheaYerry STATE OF (SV L) ttrr r► ri rr.. tIAY F Myio*)ission ergs 1 a`>Q ss Ap 09209310; Primary Customer ID 00018429; CIF 53186 FORM 5014, Re Mortgage INDIVIDUAL BORROWER ACKNOWLE c ever COUNTY OF On this Z► day of @LAN ol�V \I before me, a Notary Pu lic, personally appeared to me known to be the person(s) named in and who executed e foregoing instrument, and acknowledged that executed the same as \\I\Q voluntary act and deed. (Type name under si nature) Notary Public in and for said County and State 344 Legal Doc. Date: December "'1, 2000 ME Page 2 All lands located in Lincoln County, Wyoming: Parcel 1 Township 26 North, Section 1: Lots deeded to Lincoln August 4, 1939 in public records Parcel 2 Township 26 North, Range 120 West Section 12: The NE4 LESS AND EXCEPT that parcel of land deeded to Lincoln County, Wyoming in the Warranty Deed recorded August 4, 1939 in Book 21 of Deeds on page 186 of Lincoln County public records Parcel 3 Township 26 North, Range 120 West Section 13: Lots 1,2,3,4 LESS AND EXCEPT that parcel of land deeded to Lincoln County, Wyoming in the Warranty Deed recorded August 4, 1939 in Book 21 of Deeds on page 185 of Lincoln County public records Parcel 4 Township 27 North, Range 118 West Section 4: Lots 3 and 4; S2NW4: N2SW4; SW' Section 5: Lots 1 and 2; S2NE4; NW4SE4; SE-SE4 Section 8: E2NE4; NE9SE* Also known as Resurvey Tract 39 Parcel 5 Township 27 North, Range 118 West Section 6: Lot 4 also known as Resurvey Tract 45 Parcel 6 Township 27 North, Range 118 West Section 7: Lot 3 also known as Resurvey Tract 47 Parcel 7 Township 27 North, Range 118 West Section 18: Lot 1, SE4NE4, W2NE 1; E2NW4; E2SW4; NW4SE4: E-SE4 Section 19: Lot 1, E2NE4; NW -NF.4; NE*NW4 Also known as Resurvey Tract 56 Parcel 8 Township 27 North, Range 118 West Section 8: SE*SW4; N2SE4SE4 Section 17: NE', -NW4; That part of the N;NE4 lying west of the easement to the United States of America as described in the Exclusive Road Easement recorded April 4, 1973 in Book 104PR on page 117 of the Lincoln County public records Also known as part of Resurvey Tract 49 LESS' AND EXCEPT that parcel of land deeded to Terold D. Etcheverry and Michael R. Etcheverry in the Quitclaim Deed recorded April 20, 199 Book 348PR on page 528 of Lincoln County public records Parcel 9 Township 27 North Section 1: .Lots Section 12: Lots Section 13: Lots Section 24: Lots Range 119 West 12,13,15,22, SSW 1,5,7,10,11,12 and 18 1,8,9 and 16 1,8,9 and 16 Parcel 10 Township 27 North, Range 118 West Section 18: Lot 2, also known as Resurvey Tract 58; SW-SE4 also known as Resurvey Tract 57 Parcel 11 Township 28 North, Range 118 West Section 31: Lot 3, also known as Resurvey Tract 72 Parcel 12 Township 27 North, Range 118 West Section 8: N2SW4; SW-SW4 Section 17: NW4NW4 Also known as Resurvey Tract 48 Exhibit "A" Range 120 West 3 and 4 LESS AND EXCEPT that parcel of land County, Wyoming in the Warranty Deed recorded Book 21 of Deeds on page 185 of Lincoln County 345 Parcel 13 Township 27 North, Range 118 West Section 17: S-NW4i E2SW1 Also known as Resurvey Tract 54 Parcel 14 Township 27 North, Range 118 West Section 17: W 'zSWi Section 20: NW4i N2SW- Also known as Resurvey Tract 55 STATE OF WYOMING LEASE NO. 3 -7717G Township 26 North, Range 119 West Section 16: All Ly %'ne S. Etche erry 34G Parcel 15 Township 26 North, Range 120 West Section 12: Lots 1,2,3 and 4 LESS AND..EXCEPT that parcel of land deeded to Lincoln County, Wyoming in the Wa Deed recorded August 4, 1939 in Book 21 of Deeds on page 185 of Lincoln County public records