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HomeMy WebLinkAbout865819KNOW ALL MEN HY THESE PRESENTS, That Husband and Wife herein designated as Mortgagor, of The Associates 2155 East 17th Street Idaho Palls, ID 83404 MORTGAGE County of Lincoln State of Wyoming to secure the payment of the principal sum of Forty Thousand Three Hundred Thirty -one 24/100 with interest as evidenced by a promissory note dated May 5. 2000 interest payable in 240 installments of 568,41 hereinafter designated month, beginning on the 15th day of June each lt on the first to •inte�re'st, and the balance to be applied to principal, any balance o principal or shall be due with the 240th Installment on May hereby mortgages to said Mortgagee, the following described real estate, situated n County, State of Wyoming, to wit: BOOK _PR PAGE 8'65819 Paul M. Sprackjen and Tammy L. Spracklen, 550 Monroe, Afton Dollars (S 40, 331.34 herewith'to the order of Mortgagee, principal and 15th day of each installment to be applied interest remaining unpaid 2020 Lincoln RECEIVED _i ,iCO i Part of Lot 4 of Block 26 to the Town of Afton, Lincoln County, Wyoming, being more particularly described as follows: Beginning at the Northeast corner of said Lot 4 and running thence South 6 rods along the East boundary line of said Block; thence West 10 rods on a parallel line to the South boundary line of said Block; thence North 6 rods on a line parallel to the East boundary line of said Block to a point on the North boundary line of said Lot 4; thence East 10 rods more or less along the North boundary line of said Lot 4, Block 26 to the point of beginning. 00 —9 rr +Iwj'bC f 1 i. I'u M E K R. WYOMING including all bu nd improvements thereon (or that herediit2mwn►c t carter be erector" rha..,..�..___.t z T917 :smopoj SE WSE211.101,11 gltm saaiau pue sWEUanoa Jongpow aq; puy' tad ��a jo s[u}Bio �n ;,y►sr aye ssars$e sas�ura�d peas jo arm a Qa a puv 'ianaosuiogM suns i3d fl jo won *an a�.Sa n• q P J p p ;MUM of s�uEuanoa Agway puv 'saausaq Amp win sas�wand pegs jo pazros ArrnJ,ti,sr sr ay pun sawn pus suuauano3 pub !urwoAM jo aims alp jo most pvaisauroy aq; jo anann Aq puv aapun nq a uv sanmin pus sagstnbuttai Agaaay Joss8uoysr aqy •saspuead pres give UorppaUUO ur pasn ao of immix aaijEaiay 10 MOU luauidrnba puv saanix Xupy$rr pus Supeay 'Surgwnid rls puv Iowan woad pus 'sanssr pue aapuiEwaa 'suorsaPna3 pus uotsianai a ureuadde aaijsaiaq Jo Mou asrMAus ill Jo'8ui uoraq own;Jagm slgSra Jayao D puv saounuaaanddU pus s1uaule pa ;q gym ia 1 .11102a0g0 papaia aq nuueaaay Asw ao) uoaaaq} s1uautanoJdw! pup dugpling tIt $U)pn)aui 6.2-a) tao -13u SOUTHWEST TITLE CO. Fax:1- 307 -877 -9602 May 8 '00 11:35 P.03/04 462 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or In an amount equal to one or more monthly payments on the principal that are next due on the note, on any interest paying date prior to maturity. 2. That the Mortgagor will pay all ground rents, taxes, assessments, water rents and other governmental or municipal charges, or other lawful charges and will promptly deliver the official receipts therefor to the said Mort- gagee. to default thereof the Mortgagee may pay the same. 3. That nothing shall be done on or in connection with said property which may impair the Mortgagee's security hereunder; the Mortgagor will commit, permit or suffer no waste, impairment or deterioration of said propeny nor any part thereof, and said property shall be continuously maintained in good and sightly order, repair and condition by the Mortgagor at his expense. 4. That he will keep the improvements now existing or hereinafter erected on the said premises, insured as may be required from time to time by the Mortgagee against loss by fire and other hazards, casualties, and con- tingencies in such amounts and for such periods as may be required by the Mortgagee 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 be held by the Mortgagee and have attached thereto Loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss he will give immediate notice by mail to the Mort- gagee, who may make proof of loss if not made promptly by the Mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mort- gagor and the Mortgagee, jointly, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. 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. S. That in case the Mortgagor defaults in the payment of ground rents, if any, taxes, assessments, water, 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 paragraph 3 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 pro- vided in the no 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. 6. That in the event the property covered hereby is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness secured hereby, the Mortgagor binds himself to pay the unpaid balance, and the Mort- gagee will be entitled to a deficiency judgment. 7. Upon occurrence, with respect to any Mortgagor, Assignee, maker, endorser or guarantor hereof, of any of the following: Calling of a meeting of creditors; application for, or appointment of, a receiver of any of them or their proper- ty; filing of a voluntary or involuntary petition under any of the provisions of the Bankruptcy Act or amendments thereto; issuance of a wan or attachment; entry of a judgment; failure to pay, collect or remit any tax or tax deficiency, Federal, State or local, when assessed or due; death dissolution; making, or sending notice of an intended bulk sale; mortgage or pledge of any property; suspension or liquidation of their usual business; failure, after de- mand, to furnish financial information or to permit inspection of any books or records; default in payment or per- formance of this note or any other obligation to, or acquired in any manner by payee, or if the condition or affairs of any of them shall change as in the opinion of the Mortgagee or other legal holder thereof, shall increase its credit risk —this note and all other obligations, direct or contingent, of any maker or endorser hereof to payee shall become due and payable immediately without notice or demand. That in case default shall be made in the payment, when due, of the indebtedness hereby secured, or of any installment thereof, or any part thereof, or in case of breach of any covenant or agreement h tained, the wita then indebtedness secured hereby, in f s_ water charo.c .�„�.,a:...__.. �a principal, interest, arrearages, group f any taxes. a 0911 s3jne;ap to iinsjap ragtag jo asgo ui s ;gSia alnsopaioj 511 xi; paolpnfaad aq JOU ;pBgs pus anupuoo hers ;ins ;ap lions goign► Su11np aa3jeaaag3 auti; Aug ie amsopaao; jo ;Op s31 ui pootpnfald aq i(gaaag3 lou llrgs 11'3 ;nejap Mir jo 3uivaddeq alp uodn asopaao; 01 £lidwoad ltpj hags as rS3aoyti ay; *no U •aaj S,ISau1033e a;gruoseaa a 'sSuipoaoolc lions iie ao Ault u1 papnpui aq urgs alp 01 `puswap uo aa3$3lloW aq; q pied aq ilstis 'Sup ji 'snldans aq; pus uoaiaq; ;saaaiut g31nn Jag3aSo3'4tgaaaq polnoas ssaupa; aq; jo 3un000s uo anp aousieq alp ;o ;uatwfsd ag3 o3 uagi pus 'loony S t{dv2eaed jo suotslnoad aq; of iuensand aa3e3uojs aqi Aq paouenpg 10 pa puadxa sI(auom He jo luatudsd u; pus aitfs pug oinsoioaaoj (ions jo sasuadxa pue slsoo aq3 ;o 3uatw(gd ag; 03 ;nu alas lions tuoa; 3ulsge spaaooad 3au aqi i(lddg of pug plos os ,tuadoad aq3 jo aourAottuoa ;o spaap 10 pap ;uapl j;ns pus poo3 s airs pons Arm ie slasggarnd to aasgyoand aqi o3 palangap pup painoaxa aq 03 asnro pue 'saansopaaoj a3BS -3aow Suiulano3 salmis 3atutoj(M o3 3utpa000s `gseo aoj 'anpuan oiignd is 'sasnuaad pagtaosop -anogs aqi jo ales pup 3uatuaspionpe Aq aSpSuo3u sir; asopaioj 03 'pap Sew ii se `Allnbo u110 mr13g 3ms i q aag1la ;Velum; silo jo Suoistnoad aqi aolojua o; paaooad o; aa3ESpoyAl aqi so; injnnpl aq iipgg 1t pie 'amp ram tut: ip awes aq3 aspaaxa of ig311 atii jo lanplm a a3n313suoo oou ilegs uolldo piss asplaxa o3 ainiP=j (us Pus '8utpus3stlilnniou Anljuoa a4J 01 pauraluoa aioN plea ut'0 aaojaqulalati 3 wgiAus 'pail anrq iou Aew ;oaaogi 3uauMed aqi loj pa ;iwg anoge pound aq3 q nog31e 'aaSeS;aoyg alp Jo uopdo aqi 311 'aigr tpd puss anp Aia3eipaurwt atuoo aq f1Egs ';oomq suoisinoad aq3 o; iugnsind aigBA,d sums aaq ;o ifs gptnn aatpo$o1'aouvua;uieu(.io medal loj Salnhipuadxa 'Wimp .1a3gnn `s3uawssasse `saxu; Aug jt's3ua1 punol3's2h1130lag polouud jo antsnpa! painoos ssaupa3gapul uaq; aq3 jo alogm aq3 `pault;iuoo uplaq 3uaulaaa3B 10 lueu2n03 Mrs jo gosalq ;o asea ut 10 1o012u1 urd (nf in 'erne -bvet 464 8. That in case of any default whereby the right of foreclosure occurs hereunder, the Mortgagee shall at once become entitled to exclusive possession, use, and enjoyment of all property aforesaid, and to all rents, issues and profits thereof. from the accruing of such right and during the pendency of forclosttre proceedings and the period of redemption, if any there be, and such possession, rents, issues and profits shall at once be delivered to the Mort agee on request, and on refusal, the delivery of such possession, rents, Issues, and profits may be enforced by the Mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forcible entry, or unlawful detainer, and the Mortgagee shall be entitled to a Receiver for said property nd all rents, issues. and profits thereof, after any ouch default, including the time covered by foreclosure proceedings d the period of redemp- tion, if any there be, and shall be entitled thereto as a matter of right without regard to thsolvency or Insolvency of the Mortgagor, or the then owner of said property. and without regard to the value of said property, or the suf- fiency thereof to discharge the mortgage debt and foreclosure costs. fees, and expense, and \such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, and without notice (notice being hereby expressly waived and the appointment of any such Receiver on any such application without notice being hereby consented to by the Mortgagor on the Mortgagor's own behalf), and 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. 9. Transfer of the Property; Assumption, If all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Mortgagee's prior written consent, excluding (a) the creation of a lien or encum- brance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Mortgagee may, at Mortgagee's option, declare all the sums secured by this Mortgage to be immediately due and payable_ Mortgagee shall have waived such option to accelerate 1f, prior to the sale or transfer, Mortgagee and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Mortgagee and that the interest payable on the sums secured by this Mortgage shall be at such rate as Mortgagee shall request. If Mortgagee has waived the option to accelerate provided in this paragraph and if Mortgagor's successor in interest has executed a written assumption agreement accepted in writing by Mortgagee. Mortgagee shall release Mortgagor from all obligations under this Mortgage and the Note. 10. No failure by the Mortgagee or any legal holder hereof to enforce any right set forth herein nor the grant- ing 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. 1 1. That the covenants herein contained shall bind, and the benefits and advantages shall inure to, the respec- tive 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 ail genders. And the said Tammy L. Spracklen wife of the said Paul M. Spracklen upon the consideration aforesaid, does hereby release and forever quit -claim unto the Mortgagee all her rights of homestead in and to the above granted premises. IN WITNESS WHEREOF, the Mortgagor(s) ha ve hereunto set our hand(s) this day of May *Xs 2Q00 In the presence of— THE STATE OF WYOMING, County of Tinttell n On this 3, VA, day of May Spracklen and Tammy L. Spracklen foregoing instrument, and acknowleged that free act and deed, I SOUTHWEST TITLE CO. Fax:1- 307 877 -9602 Given under my hand and (Seal) My Commission expires C ".i LYNN T 1 `'::'t NOTARY PUBLIC St:to cf Wyoming Pi Piiy Commission rrrires: County of Lincoln b0 i thay notarial seal this 44 14 �„k/144 Paul Spracklen May 8 '00 11:36 P. 04/04 es: Tammy L. �•racklen before me personally appeared Paul M. to me known to be the person described in and who executed the executed the same as their ".Y.. .f' :P' 'Y. 1C1 J .1') f% •f,1'a :t 1'a: .-.4' •I. r. 't r.•. 'Q: .v. }Yl� f'f: day of May A. D. idt 20Q0. Notary Public.