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BOOK 451 PR PAGE. 221 MORTGAGE RSC 'IVFD
867911 Vfilki This M ortgage is made the 2 day of August, 2000, 'iet ¢'En?
Kenneth E. Christensen, hereinafter referred to as the "Mortgago' 4 ,L9d Sete,t,
Tatarek and Marily ?i Tatarek, hereinafter referred to as "Mortgagee
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The Mortgagor, for and in consideration of the sum of TWENTY SEVEN
THOUSAND SEVEN HUNDRED DOLLARS ($27,700.00) lawful money of the
United States and other valuable consideration, loaned to the Mortgagor by the
Mortgagee, the receipt of which is hereby confessed and acknowledged, does hereby
mortgage to the Mortgagee forever, the following described real property situate in
the County of Teton, State of Wyoming:
Lot 17 Cedar Creek Ranches Subdivision, according to that p
thereof as recorded in the Office of County Clerk, Linco
County, Wyoming.
1
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This 14 cftgs•ge
SEE 8 Of MUD
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 easements, appurtenances and incidents
now or hereafter belonging or appertaining there to; subject, however, to all
covenants, conditions, easements, and rights -of -way, and to mineral, mining and
other exceptions, reservations and conditions of record.
TO HAVE AND TO HOLD the said real and personal 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 possessed of said personal property; 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.
However, this Mortgage is subject to the express condition that if the Mortgagor
pays, or causes to be paid, to the Mortgagee the sum of Twwenty Seven Thousand
Seven Hundred Dollars ($27,700.00) according to the terms and conditions contained
in that Note (also hereinafter sometimes referred to as "Promissory Note which
Note was executed and delivered by the Mortgagor to the Mortgagee, which sum or
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iIp aappap 'uo! }do s,aa2p2}IOJAi }p 'Apui aa2p2 4I0NI }upua} }utof p 3o IRpap atp uodn
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223
indebtedness hereby secured, Mortgagor shall keep the improvements now existing
or hereinafter erected on said premises insured against loss caused by the elements,
fire, earthquake, and other calamities, with extended coverage provisions, to the full
insurable value thereof 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 licensed in Wyoming and the policies and renewals thereof
shall have attached thereto by rider or otherwise loss payable clauses in favor of the
Mortgagee. A copy of said policy or any renewal documents pertaining thereto shall
be supplied to the Mortgagee within 30 days after the date of execution of this
mortgage and thereafter within 10 days of any renewal of or amendment to such
policy. The insurance proceeds, or any part thereof, may, at the option of the
Mortgagor, be applied either to the reduction of the indebtedness hereby secured or
used in reconstruction. In the event of foreclosure of this mortgage or other transfer
of title to the said premises in extinguishment of the indebtedness secured hereby,
all right, title and interest of the Mortgagor in and to any insurance policies then in
force shall pass to the purchaser or grantee.
Notwithstanding the foregoing, insurance shall not be required until such
time as there are improvements on the property
7. Mortgagee Authorized to Make Payments. If Mortgagor defaults in
the payment of the taxes, assessments or other lawful charges, including any
construction loan payments or fails to keep the improvements on said premises
insured as herein provided, the Mortgagee may, without notice or demand, pay the
same, and if the Mortgagor fails to keep said property in good repair, the Mortgagee
may make such repairs as may be necessary to protect the property, all at the expense
of the Mortgagor. 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 said property and be secured by this Mortgage.
8. Default. If the Mortgagor defaults in the payment of the
indebtedness hereby secured, or in case of breach of any covenant or agreement
herein contained for a period of thirty (30) days after written notice, or if the
Mortgagor removes or attempts to remove any of said improvements or personal
property contrary to the provisions of this Mortgage, or fails to keep the
improvements on said premises insured as herein provided, or any breach in the
paaaojua aq /cum smoid puu sanssi 'qua' 'uotssassod cans jo /clanijap aq4 'jvsnjax
up }sanbai uo aaSrSpojAj alp o} Xja}rnpauxuxi paxantjap aq Hugs s}ijoad puu sanssi
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jo Xauapuad alp 2uiinp puu }Tj2ia Tjans jo 2u1n,TDDP a p Tuoaj 'joaiagj} s}ijold
puu sanssi 'qua' o} puu 'pirsaaojr Xpadoad jo }uo wXofua puu asn 'uotssassod
antsnjaxa 04 paj }pua auxoaaq aauo }P Hugs aa2apojAj alp 'iapunaaaq }jnujap Xuu jo
}jnsax e SP sanzaa2 aansopa1oj jo }TJBTJ 044 jj •s}uag jo }uauxuBissT •0T
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pui 'aamjug ptrdun alp APd o} punoq iijjruosaad aq jjr4s A}i.znaas sT a2u24aoj j siq}
Tjai4M aoj 5040U 10 a }ou 044 2uT}naaxa ao2u24iojAI aq} 'pampas XgaJag ssaupa}gapui
jr }o} oq 1iud o} }uapjjnsui aiu spaaaoid alp pur aansopaioj tapun pjos si
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uodn iij}duxozd asojaaioj 0} aa2E24aoj^j 044 jo aanjtuj au •aaj Xauao}}r ajgiuosuaz
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uT aTUus alp asTalaxa 04 442TI alp jo aaniuM a }n}psuoa }ou Hugs uoT }do plus asiaaaxa
04 ainjiuj puu '040NT XIosstuxoad alp uT papinold ajgrktd pur anp Xja}uipauxuxt
auxoaaq 'aa2u2}1oj^j au} jo uoi }do alp }u 'Hugs 'joaaaq suoisinoJd alp 04 }uunsind
ajquXud sums aa4 40 jji g}pM 10 o} '}saaa}uT puu judiaupd Tog 'iiga1a4 pampas
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a }n}u }s Aiq papinold
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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.
11. Inspection. Mortgagee may make or cause to be made reasonable
entries upon and inspections of the property, provided that Mortgagee shall give
Mortgagor notice prior to any such inspection specifying reasonable cause therefor
related to Mortgagee's interest in the property.
12. Condemnation. The proceeds of any award or claim for damages,
direct or consequential, in connection with any condemnation or other taking of the
property, or part hereof, or for conveyance in lieu of condemnation, are hereby
assigned and shall be paid to Mortgagee. In the event of a total taking of the
property, the proceeds shall be applied to the sums secured by this Mortgage with the
excess, if any, paid to Mortgagor. In the event of a partial taking of the property,
unless Mortgagor and Mortgagee otherwise agree in writing, there shall be applied
to the sums secured by this Mortgage such proportion of the proceeds as is equal to
that proportion which the amount of the sums secured by this Mortgage
immediately prior to the date of taking bears to the fair market value of the property
immediately prior to the date of taking, with the balance of the proceeds paid to
Mortgagor. If the property is abandoned by Mortgagor, or if, after notice by
Mortgagee to Mortgagor that the condemnor offers to make an award or settle a
claim for damages, Mortgagor fails to respond to Mortgagee within 30 days after the
date such notice is mailed, Mortgagee is authorized to collect and apply the proceeds,
at Mortgagee's option, either to restoration or repair of the property or to reduce the
sums secured by this Mortgage. Unless Mortgagee and Mortgagor otherwise agree in
writing, any such application of proceeds to principal shall not extend or postpone
the due date of the installments referred to above or change the amount of such
installments.
9
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IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and sealed
these presents the day and year first above written.
STATE OF WYOMING
ss.
COUNTY OF TETON
The foregoing instrument was acknowledged before me this 2.4th day of
August, 2000 by Steverkatarek and Marilyngatarek.
1
WITNESS my hand and official seal.
en
TAR
rrt; 51 i1115 t\
7
Steven4Tatarek
.s%tr
Marilyn fatarek
Notary Public
My Commission Expires: 1-' 02
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