HomeMy WebLinkAbout870555VCI. Uni44rM
rrtUNrnLL 1 nIY{.0 11 I LC I ADur U
Order No. 3029900011 -J
870555
DEED OF TRUST
THIS DEED OF TRUST, Made rhis December 27, 2000 BETWEEN Loren Young and Kristine Young
husband and wife herein called GRANTOR, whose address
is:63 II C 1 i c
AND sour �'1N ,herein called TRUSTEE, AND Hathaway's Inc. herein
called BENEFICIARY, whose address i 3o_ y4e.u.ourlirt te, Mw St. RNt yy /D 9 *j
WITNESSETH: That Grantor does hereby irrevocably GRANT, BARGAIN :SELL AND COi(E TO
TRUSTEE IN TRUST WITH POWER OF SALE, that property in the county of Lincoln State of
Wyoming, described as follows and containing not more than forty acres:
cud ago —dace
I3OOK PR PAGE 7 7 3
I -tea r.0 fU I 3li
Lot 1 of Bear Creek Estates, Lincoln County, Wyoming as described on the official plat thereof.
LINCOLN CCil._1N T Y CLERK
01 JIM I
JEANNE WAGNER
KEMMERER, WYOMING
TOGETHER WITH nce rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority hereinafter given
to and conferred upon Beneficiary to collect and apply such rears, Issues and profits.
For the purpose of securing payment of die indebtedness evidenced by a promissory note, of even date herewith, excetued by Grantor
1n the sum of S 61,000,00 with final payment due. February 1", 2001 and to secure payment of all such further sums as
may hereafter be loaned or nth quell by the beneficiary herein to the Grantor herein, or any or either of them, while record owner of
present interest, for any purpose, and of any notes, drafts or other instruments representing such further loans, advances or
expenditures together with interest on all such sums at the rare therein provided. Provided, however, that the making of such further
loans, advances or expenditures shall be optional with the rieficia y, and provided further, that it is the express intention oldie
parties to this Decd of Trust that it shall stand as continuing security until paid for all such advances together with interest thereon.
A. TO protect die security of this Deed of Trust, Grantor agrees;
1 To keep said properly in good condition and repair, not to remove or demolish any building thereon, to complete or
restore promptly and in good and workmanlike manner any building which may be constructed, damaged or destroyed thereon and to
pay when due all claims for labor performed and marerials famished therefor, to comply with all laws affecting said property or
requiring any alterations or improvements to be made thereon; not to commit or permit waste thereof; not ro commit, sutler or permit
any act upon said property in violation of law; to cultivate, irrigate, fenili e, fumigate, prune and do all other acts which from the
characrer or use of said property may be reasonably necessary, the specific enumerations herein nor excluding the general.
2. To provide maintain and deliver to Senefict:uy fire insurance satisfactory to and with loss payable to Beneficiary.
The amount collected under any fire or other insurance policy may be applied by beneficiary upon any indebtedness secured hereby
and in such order as Beneficiary may determine. or at option of Beneficiary the entire amount so collected or any part thereof may be
released to Grantor. Such uppliwtion or release shall not cure or waive any default or notice of detauir hereunder or invalidate any act
done pursuant to such notice.
3. To appear in and defend any action or proceeding purporting 10 affect the security hereof or the rights or powers of
Beneficiary or Trustee; and to pay all uosts and expenses, including cost of evidence of rule and anomey's fees in a reasonable sum, in
any such acuon or proceeding to which Beneficiary or Trustee may appear
4 To pay, at least ten days before delinquency all taxes and assessments affecting said property, when due, all
encumbrances, charges and liens, with interest, on said property or any part thereof, which appear to be prior or supenor hereto; ait
COSTS, fees and expenses of this Trust. In Addition to the payments due in accordance with the terms of the note hereby secured the
Grantor shall at the option. and on demand of the 13cncficiary, pay each month 1/12 of the estimated annual taxes assessments,
insurance premiums, maintenance and other charges upon the property, nevertheless in trust for Grantor's use and benefit and for the
payment by rBeneficiary of any such items when due Grantor's failure so to pay shall consnrute a default under this trust,
5 To pay immediately and without demand all sums expended by Beneficiary or Trustee pursuant to to provisions
hereof, with interest from date of expenditure at the rite of interest specified in the above described promissory note.
6 Should Grantor fail to make any peymcnr or to do any act as herein provided, then Beneficiary or Trustee, but
without obligation so to do and without nonce to or demand upon Grantor and without releasing Grantor from any obligetiona hereof,
may; make or do the same in such manner and to such extent as either may decal necessary to protect the security hereof, Beneficiary
or Trustee being authorized to enter upon said property for such purposes; appear in and defend any action or proceeding purporting to
affect the security hereof or the righrs or powers of Beneficiary or 'Trustee; pay, purchase, contest or compromise any encumbrance,
charge or lien which in the judgement of either appears to be prior or superior hereto: and, in exercising any such powers, or in
enforcing this Deed of Trust by judicial foreclosure, pay nec expenses, employ counsel and pay his reasonable fees.
H. 11 IN mutually agreed that:
1. Any reward of damages in connection with any condemnation for public use of or injury to said property Or any parr
thereof 1s hereby assigned and shall be paid io Beneficiary who may apply or release such moneys received by him in the same
manner and with the same effect as above provided for disposition of proceeds of fire or other insurance.
2. By accepting payment of any arm secured hereby aftrr its due date, Beneficiary does not waive his right either ro
require prompt payment when due of all other sums so secured or to declare default for failure so to pay.
3. At any time or from time to time, without liability therefor and without novice, upon written request of Beneficiary
and presentation of this Deed and said note for endorsement, and without affecting the personal liability of any person for payment of
the indebtedness seemed hereby, Trustee may. Recorivcy alt or any part of said property; consent to the making of any map or plat
thereof: join in gating any easement thereon; or join in any extension agreement or any agreement subordinating the lien or charge
Hereof
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