HomeMy WebLinkAbout973573MORTGAGE
(With Power of Sale)
0671
KNOW ALL MEN BY THESE PRESENTS, that Leigh Ernest Allen and
Deanna Lynn Harding, Joint Tenants with rights of survivorship, of
4549 Maureen Circle, Livermore, California, 94550, designated as
Mortgagor, to secure the payment of the principal sum of TWO
HUNDRED THOUSAND DOLLARS, ($200,00.00) amortized over thirty (30)
years, with interest at four percent (4%) per annum, as evidenced
by a promissory note of even date payable to the order of Roger R.
Willis and Sandra P. Willis, husband and wife, of HC62 Box 7133,
Star Valley Ranch, Wyoming, 83127, herein designated as Mortgagee,
payable as set forth in the promissory note of even date herewith,
hereby mortgages to said Mortgagee, the following- described real
property, situated in Lincoln County, State of Wyoming, hereby
releasing and waiving all rights under and by virtue of the
homestead exemption laws of the State, to wit:
ALL OF LOT 83 OF STAR VALLEY RANCH PLAT 16, LOCATED IN
LINCOLN COUNTY, WYOMING, AS DESCRIBED ON THE OFFICIAL
PLAT FILED ON SEPTEMBER 27, 1978, AS INSTRUMENT NO.
514467 OF THE RECORDS OF THE LINCOLN COUNTY CLERK.
including all buildings and improvements thereon (or that may
hereafter be erected thereon); together with appurtenances and all
other rights thereunto belonging, or in anyway now or hereafter
appertaining, and the reversion and reversions, remainder and
remainders, rents, issues, and profits thereof, and all plumbing,
heating and lighting fixtures and equipment now or hereafter
attached to or used in connection with said premises.
The Mortgagor covenants and agrees with the Mortgagee as
follows:
Page 1 of 8
RECEIVED 10/3/2013 at 3:18 PM
RECEIVING 973573
BOOK: 821 PAGE: 671
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SECTION ONE
0672
RENTS, PROFITS AND RECEIVER
Mortgagor as further security for this mortgage and the note,
hereby assigns, sets over, and conveys to Mortgagee all its
interest in and to all rents, issues, and profits from the
property. In the event of a default, Mortgagee shall have the
right without notice to the Mortgagor, to take possession of the
property, including during the pendency of foreclosure, whether
judicial or non judicial, and collect the rents, including amounts
past due and unpaid, and apply the net proceeds, over and above the
Mortgagee's costs, against the indebtedness. In addition,
Mortgagee shall have the right to have a receiver appointed to take
possession of all or any part of the property, with the power to
protect and preserve the property, to operate the property
preceding foreclosure or sale and to collect the rents for the
property and apply the proceeds, over and above the cost of
receivership against the indebtedness. The Receiver may serve
without bond, if permitted by law.
SECTION TWO
PAYMENT OF INDEBTEDNESS
Mortgagor will pay the indebtedness as required by the
promissory note of even date herewith.
SECTION THREE
TAXES AND ASSESSMENTS
Mortgagor will pay all taxes, assessments, and other
governmental or municipal charges, or other lawful charges levied
against the property and will promptly deliver the official
receipts therefor to Mortgagee upon request. Failure to do so
shall constitute an event of default. In default thereof the
Mortgagee may, at its option, pay the same, and all sums so paid
Page 2 of 8
shall be added to and considered a part of the above indebtedness
hereby secured, and shall draw interest at the rate set forth in
the promissory note.
SECTION FOUR
MAINTENANCE OF PROPERTY
Nothing shall be done on or in connection with said property
which may impair the Mortgagee's security hereunder; the Mortgagor
shall not commit waste, impairment or deterioration of said
property nor any part thereof, and said property shall be
continuously maintained in good and sightly order, repair and
condition by the Mortgagor at its expense.
SECTION FIVE
INSURANCE
Mortgagor will keep the improvements now existing or
hereinafter erected on the said property, insured as may be
required from time to time by the Mortgagee against loss by fire
and other hazards, casualties, and contingencies in an amount that
is at least equal to $200,000.00, and will pay promptly, when due,
any premiums on such insurance. All insurance shall be carried in
companies approved by the Mortgagee and the policies and renewals
thereof shall have attached thereto loss payable clauses in favor
of and in form acceptable to the Mortgagee. Mortgagor shall take
all steps necessary to assure that notification of renewals are
mailed or otherwise delivered by the insurance company to the
Mortgagee each year.
In event of loss, Mortgagor will give immediate notice to the
Mortgagee and the insurance carrier. Mortgagee may make proof of
loss to the insurance carrier if not made promptly by the
Mortgagor. Insurance proceeds shall be applied to restoration or
repair of the property damaged, if the restoration or repair is
Page 3 of 8
06 73
economially feasible and Mortgagee's security is not lessened. If
the restoration or repair is not economially feasible or
Mortgagee's security would be lessened, the insurance proceeds
shall be applied to the sums secured by this Mortgage, whether or
not then due, with any excess paid to the Mortgagor.
In 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.
SECTION SIX
CHARGES; LIENS
In case the Mortgagor defaults in the payment of any, taxes,
assessments, insurance or other governmental or municipal charges,
or other lawful charges, as herein provided, the Mortgagee may,
without notice or demand, pay the same and in case of any failure
on the part of the Mortgagor to comply with the covenants of
Section Four hereof, the Mortgagee may effect such repairs as it
may reasonably deem necessary to protect the property, at the
expense of the Mortgagor. The Mortgagor covenants and agrees to
repay such sums so paid 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 herein described, and the same
shall be a lien on the said premises and be secured by the said
note and by these presents and in default of making such
repayments, the whole amount hereby secured, if not then due,
shall, if the said Mortgagee so elects, become due and payable
forthwith, anything herein contained to the contrary
notwithstanding.
Page 4 of 8
0674
SECTION SEVEN
ACCELERATION AND FORECLOSURE 0675
In the event of a default because of Mortgagor's failure to
make payment by the fifteenth (15 day of the month it is due, or
any part thereof, or in case of a breach of any other covenants or
agreements contained in the promissory note or this Mortgage, and
such other default or breach is not cured within thirty (30) days
after the Mortgagee has mailed written notice of the breach of the
other covenants or agreements to the Mortgagor, then the whole of
the then indebtedness secured hereby, inclusive of principal,
interest, arrearage, late fees, ground rents, taxes, assessments,
water charges, insurance, expenditures for repairs or maintenance,
together with all other sums payable pursuant to the promissory
note and the provisions hereof, shall become immediately due and
payable, at the option of the Mortgagee, and it shall be lawful for
the Mortgagee to pursue any legal remedy available under the law
against the Mortgagor, including but not limited to, the right to
proceed to enforce the provisions of the promissory note and this
mortgage by suit at law or in equity, the right to foreclose this
mortgage by power of sale or advertisement and sale according to
Wyoming statutes governing mortgage foreclosures, and cause to be
executed and delivered to the purchaser or purchasers at any such
sale a good and sufficient deed or deeds of conveyance of the
property so sold, and the right to pursue a deficiency judgment
against the Mortgagor should the proceeds from a foreclosure by
power of sale be insufficient to pay Mortgagor's indebtedness.
There shall be included in any or all such proceedings, a
reasonable attorney's fee. In case the Mortgagee shall fail
promptly to foreclose upon the happening of any default, it shall
not thereby be prejudiced in its right of foreclosure at any time
Page 5 of 8
thereafter during which such default shall continue and shall not 0676
be prejudiced in its foreclosure rights in case of further default
or defaults.
If Mortgagor remains in possession of the property after the
property is sold as provided above, during the redemption period,
Mortgagor shall become a tenant at sufferance of the Mortgagee or
the purchaser of property and shall, at the Mortgagee's or
purchaser's option, either (a) pay a reasonable rental for the use
of the property, or (b) vacate the property immediately upon demand
of the Mortgagee or purchaser.
SECTION EIGHT
WAIVER OF RIGHT TO ENFORCE
No failure by the Mortgagee or any legal holder to enforce any
right set forth herein nor the granting of any extension of time
nor taking of additional security, nor partial release of security
or the making of future advances, shall act to constitute a waiver
of the right to enforce any and all remedies provided herein nor
shall it act to discharge or release the collateral.
SECTION NINE
DUE ON SALE
Mortgagee may, at its option, declare immediately due and
payable all sums secured by this Mortgage upon the sale or
transfer, without the Mortgagees's prior written consent, of all or
any part of the real property described herein. A "sale" or
"transfer" means the conveyance of the real property or any right,
title or interest therein; whether legal, beneficial or equitable;
whether voluntary or involuntary; whether by outright sale, deed,
installment sale contract, assignment and assumption of this
mortgage, land contract, contract for deed, lease option contract
or lease with a term greater than three (3) years.
Page 6 of 8
SECTION TEN
BINDING EFFECT
The covenants herein contained shall bind, and the benefits
and advantages shall inure to, the respective heirs, 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.
SECTION ELEVEN
NOTICES
All notices, demands requests and writings required or
permitted to be given to the Mortgagor hereunder shall be deemed
duly given if delivered or if mailed by registered or certified
mail, postage prepaid and addressed to the following:
Leigh Ernest Allen
Deanna Lynn Harding
4549 Maureen Circle,
Livermore, CA, 94550
It shall be the obligation of the Mortgagor to notify the Mortgagee
in writing by certified mail of any change in the address set out
above. The Mortgagee shall be entitled to rely upon the address
set out above for all purposes hereunder, unless written notice of
change is received from the Mortgagor.
IN WITNESS WHEREOF, Mortgagor has duly executed this Mortgage
r
on the 5 day of (9GT066o2 2013.
Page 7 of 8
0677
r
Leigh Ernest Allen
.a Z/14/7 ((0
Deanna L``yr/n`tiarding
THE STATE OF CALIFORNIA
ss
COUNTY OF
The above and foregoing instrument was acknowledged before me
this day of
Deanna Lynn Harding.
WITNESS my hand and official seal.
My Commission Expires:
2013, by Leigh Ernest Allen and
Notary Public
Page 8 of 8
DESSCRIPTION OF THE ATTACHED DOCUMENT
-e,(.j (7•1 I 0
(Title or description of attache document)
i/ (lam -I C
(Title or descriptioq(of attached document continued)
Number of Pages Document Date /(3
//3
(Additional information)
State of California
County of D IJ
On lO l/ before me, `Y G r 0 l! /2 L-% i_._
(Here insert name and title o the officer)
personally appeared 1,6 G.
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s)4/are subscribed to
the within instrument and acknowledged to me that1e /they executed the same in /their authorized
capacity(ies), and that bye /their signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph
is true and correct.
WITNF,,S.Iy hand and official seal.
Signature of Not. 'ub is
CALIFORNIA ALL PURPOSE
CERTIFICATE OF ACKNOWLEDGMENT
AD
CAP
ITY CLAIMED BY THE SIGNER
Individual (s)
Corporate Officer
(Title)
Partner(s)
Attorney -in -Fact
Trustee(s)
Other
2008 Version CAPA v12.10.07 800 873 -9865 www.NotaryClasses.com
6z, .Dt igAJ Jp L f tJ,i
(Notary Seal)
ITIONAL OPTIONAL INFOR1VAATJON
J. GRANT
Commission 2006495
Notary Public California
Alameda County
My Comm. Expires Feb 7, 2017
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