HomeMy WebLinkAbout974024RECEIVED 11/5/2013 at 1:43 PM
RECEIVING 974024
BOOK: 823 PAGE: 623
JEANNE WAGNER
INCOLN COUNTY CLERK, KEMMERER, WY
MORTGAGE
Lth Power of Sale)
KNOW ALL MEN BY THESE PRESENTS, that Barry Yates and Maria
Victoria Alonso, joint tenants with rights of survivorship, of S62
W35590 Burr Oak LN, Eagle, Wisconsin, 53119 -1245, designated as
Mortgagor, to secure the payment of the principal sum of NINETY
THOUSAND DOLLARS, ($90,00.00) amortized over ten (10) years, with
interest at five percent (5%) per annum, as evidenced by a
promissory note of even date payable to the order of Blaine L.
Redd, of P.O. Box 1304, Ogden, Utah, 84402, 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:
A PORTION OF THE S' /2S' /2 OF SECTION 4, TOWNSHIP 34 NORTH, RANGE
119 WEST, OF THE 6TH P.M., LINCOLN COUNTY, WYOMING, SAID
PORTION BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A COTTON GIN SPIKE MARKING A POINT IN THE CENTER
LINE OF FREEDOM RIDGE ROAD, AS SHOWN ON THE FREEDOM RIDGE
SUBDIVISION PLAT, RECORDED ON PLAT NO. 78-A, WITH SAID OFFICE,
SAID POINT BEING 1,575.96 FEET N 89 °26'08" W, ALONG THE NORTH LINE
OF SAID S1/2S1/2 FROM THE B.LM. TYPE MONUMENT MARKING THE
MARLOW A. SCHERBEL PE /LS 5368,2000 LOCATION FOR THE NORTHEAST
CORNER OF SAID S' /2S' /2 TO AN ALUMINUM CAP ON IRON PIPE AND 25.35
FEET S 0 °34'54" W, 25.35 FEET TO THE POINT OF BEGINNING; THENCE
EASTERLY, ALONG SAID CENTER LINE, THE FOLLOWING:
N 89 °30'45" E, 106.14 FEET TO A COTTON GIN SPIKE; THENCE S 82 °48'05"
E, 121.26 FEET TO A COTTON GIN SPIKE; THENCE S 76 °32'48" E, 89.96 FEET
TO A COTTON GIN SPIKE; THENCE S 87 °56'36" E, 119.60 FEET TO A
COTTON GIN SPIKE; THENCE S 0 °00'00" E, 715.48 FEET TO AN ALUMINUM
CAP ON AN IRON PIPE; THENCE S 90 °00'00" W, 438.19 FEET TO AN
ALUMINUM CAP ON AN IRON PIPE; THENCE N 0 °34'54" E, 754.34 FEET, TO
THE POINT OF BEGINNING.
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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:
SECTION ONE
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.
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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
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
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
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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. 'he 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.
SECTION SIX
ACCELERATION AND FORECLOSURE
In the event of a default because of Mortgagor's failure to
make payment by the tenth (10t'') 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
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6
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
thereafter during which such default shall continue and shall not
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 SEVEN
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
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of the right to enforce any and all remedies provided herein nor
shall it act to discharge or release the collateral.
SECTION EIGHT
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.
SECTION NINE
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 TEN
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:
0628
Barry Yates
Maria Victoria Alonso
S62 W35590 Burr Oak LN
Eagle, WI 53119 -1245
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
on the V day of OOa)Civ‘be 2013.
Barry Yates
(.4
THE STATE OF t,(Ji j4,AS
COUNTY OF k— itid:
WITNESS my hand and official seal.
My Compis lon Expires:
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ss
Maria Victoria Alonso
The above and foregqing instrument was acknowledged before me
this irr day of Pa 2013, by Barry Yates and Maria
Victoria Alonso.
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