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HomeMy WebLinkAbout976620976620 5/14/2014 10:58 AM LINCOLN COUNTY FEES: $30.00 PAGE 1 OF 7 BOOK: 832 PAGE: 310 MORTGAGE JEANNE WAGNER LINCOLN COUNTY CLERK 1 1 1 1 11111 1 111 11 1111 11 1111 1 11111 1111 11111 11111 11111 1 1111 111111 1 111 MORTGAGE 1 v ei KNOW ALL MEN BY THESE PRESENTS, that Timothy J. Diestel and Joan C. Diestel, b Trustees of the Diestel 1998 Revocable Trust dated August 24, 1998, herein referred to as o Mortgagor, of 22200 Lyons Bald Mountain Road, Sonora, CA 95370, to secure the payment of the CD E principal sum of Two Hundred Thirty Eight Thousand and No /100 Dollars ($238,000.00), with interest as evidenced by a Promissory Note dated of even date herewith to the order of Blair H. G) Hillstead as Trustee of the Blair H. Hillstead Revocable Trust dated 18 June 1997, and Lynette Hillstead as Trustee of the Lynette Hillstead Revocable Trust dated 18 June 1997, herein referred o 8 c3 to as Mortgagee, of 185 Cowpoke Way, Afton, WY 83110, principal and interest payable as follows: 7d 6 cti The principal sum of $238,000.00 together with interest on the unpaid balance of the rate of 4.897947% per annum from May 10, 2014, until paid, in two equal amortized 5A annual installments of principal and interest in the amount of $127,812.50 on May 10, 2015, and May 10, 2016, respectively. hereby mortgages to Mortgagee, the following described real estate, situated in the County of Lincoln, State of Wyoming: Real Property That part of the W1/2SW1/4 of Section 2, T31N, R119W, Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 402 PR, pages 363 and 368, as more particularly described on the attached "Description for Blair H. Hillstead Revocable Trust dated 18 June 1997 and Lynette Hillstead Revocable Trust dated 18 June 1997 Hillstead Trust Tract", which is incorporated herein by this reference. EXCEPTING THEREFROM Lot 1 of Melody Meadow, Lincoln County,. Wyoming, as described on the official plat filed on June 2, 2010, as Instrument No. 953772 of the records of the Lincoln County Clerk. TOGETHER WITH any and all improvements located on the above described real property. SUBJECT TO all covenants, easements, exceptions, restrictions, reservations and rights of way of sight or record. 1 Personal Property Two irrigation water sprinkler lines. SUBJECT TO all covenants, easements, exceptions, restrictions, reservations and rights of way of sight or record. including all buildings and improvements thereon or that may hereafter be erected thereon; together with hereditaments and appurtenances and all other rights thereunto belonging, or in anywise 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 the premises. Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead laws of the State of Wyoming and covenants that it is lawfully seised of the premises, that they are free from all encumbrances and hereby covenants to warrant and defend the title of the premises against the lawful claims of all persons whomsoever. And mortgagor covenants with mortgagee as follows: 1. In case of default in any of the payments stipulated in the note, mortgagor, as further security for this mortgage and the note secured thereby, hereby assigns, sets over, and conveys to mortgagee all rents, issues, and profits from the property. 2. To pay promptly, when due, the principal and interest and other sums of money provided for in said Note and this Mortgage, or either; to pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature on said property. 3. To perform, comply with, and abide by each and every the agreements, stipulations, conditions, and covenants, set forth in said Note and this Mortgage or either. 4. Failure by the mortgagee to exercise any of the rights or options herein provided shall not constitute a waiver of any rights or options under said Note or the Mortgage accrued or thereafter accruing. 2 5. Nothing shall be done on or in connection with the property that may impair mortgagee's security hereunder; mortgagor will commit, permit or suffer no waste, impairment or deterioration of the property nor any part thereof, and the property shall be continuously maintained in good and sightly order, repair, and condition by mortgagor at his expense. 6. In case 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, mortgagee may without notice or demand pay the same and in case of any failure on the part of mortgagor to comply with the covenants of Paragraph 5 hereof, mortgagee may effect such repairs as it may reasonably deem necessary to protect the property, at the expense of mortgagor. Mortgagor shall repay such sums so paid and all expenses so incurred by mortgagee, with interest thereon from the date of payment, at ten percent (10 per annum, and the same shall be a lien on the premises and be secured by the note and by these presents; in default of making such repayments the whole amount hereby secured if not then due shall, if mortgagee so elects, become due and payable forthwith, anything herein contained to the contrary notwithstanding. 7. In the event the property is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness secured hereby, mortgagor binds himself personally to pay the unpaid balance, and mortgagee will be entitled to a deficiency judgment. 8. In case default is 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 herein contained, the whole of the then indebtedness secured hereby, inclusive of principal, interest, arrearages, ground rents, if any, taxes, assessments, water charges, expenditures for repairs or maintenance, together with all other sums payable pursuant to the provisions hereof, shall become immediately due and payable, at the option of mortgagee, although the period above limited for the payment thereof may not have expired, anything herein before or in the note contained to the contrary notwithstanding; any failure to exercise such option shall not constitute a waiver of the right to exercise the same at any other time; and it shall be lawful for mortgagee to proceed to enforce the provisions of this mortgage either by suit at law or in equity, as it may elect, or to foreclose this mortgage by advertisement and sale of the premises, at public auction for cash, 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 to apply the net proceeds arising from such sale first to the payment of the costs and expenses of such foreclosure and sale, including a reasonable attorney fee, and in payment of all moneys expended or advanced by mortgagee 3 pursuant to the provisions of Paragraph 7 hereof, and then to the payment of the balance due on account of the principal indebtedness secured hereby, together with interest thereon and the surplus if any, shall be paid by mortgagee on demand to mortgagor. In case mortgagee fails promptly to foreclose on the happening of any default, it shall not thereby be prejudiced in its right to foreclosure at any time thereafter during which such default continues, and shall not be prejudiced in its foreclosure rights in case of further default. 9. In case of any default whereby the right of foreclosure occurs hereunder, mortgagee shall at once become entitled to exclusive possession, use, and enjoyment of all property, and to all rents, issues, and profits thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of redemption, if there is any; and such possession, rents, issues, and profits shall at once be delivered to mortgagee on request, and on refusal, the delivery of such possession, rents, issues, and profits may be enforced by mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forceable entry, or unlawful detainer; and mortgagee shall be entitled to a receiver for the property and all rents, issues, and profits thereof, after any such default, including the time covered by foreclosure proceedings and the period of redemption, if there is any, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of mortgagor or the then owner of the property, and without regard to the value of the property or the sufficiency thereof to discharge the mortgage debt and foreclosure costs, fees and expenses; and such receiver may be appointed by any court of competent jurisdiction on 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 mortgagor on mortgagor's own behalf), and all rents, issues, profits, income, and revenue of the property shall be applied by such receiver, according to law and the orders and directions of the court. 10. Mortgagor may not convey or transfer any interest in or encumber the described premises without the prior written consent of the mortgagee. Mortgagor must give mortgagee written notice of mortgagor's intent to convey or transfer any interest in or to encumber the described premises at least thirty (30) days prior to the proposed conveyance or encumbrance. If all or any part of the described premises or an interest therein is sold, transferred or encumbered by mortgagor without mortgagee's prior written consent, excluding death of a joint tenant or the grant of any leasehold interest of three (3) years or Tess not containing an option to purchase, mortgagee may, at its option, declare the entire remaining balance due under this agreement to be immediately due and payable and give written notice to mortgagor thereof. After receipt of such 4 written notice, mortgagor shall have thirty (30) days in which to pay the entire remaining balance to mortgagee. 11. 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. 12. Whenever used herein, the terms "mortgagor" and "mortgagee" include all the parties to this instrument and the heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations; and the term "Note" includes all the notes herein described if more than one. IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the 25th day of April, 2014. STATE OF C,%. ss. COUNTY OF The foregoing Mortgage was acknowledged before me by Timothy J. Diestel and Joan C. Diestel, as Trustees of the Diestel 1998 Revocable Trust dated August 24, 1998, this S day of 2014. Witness my hand and official seal. My commission expires: A app t Comnisslon 2040151 Notary Public CaWcrnla Tuolumne County Comm. Expires Nov 5, 2017 5 Timothy J. Diestel, Trustee l an C. Diestel, Trustee NOTARY PUBLIC Lamm 1 Rwlaow Land eva,00 Pad N. ao rbM Mo. ROMIG,'N0. IN IAMB R4M111n No. 1170 Idaho RegMillai No. 0100 Nersta RpM110n No.8101 BM& BMrM1 WvR. *rikn N0. 0111 h0M° RegMsYaitb. 1000 11M R1 lb. V2111 NNLLOV EA RCHERBEL Ra+.on No. 0011 &nom edreli. LTD. Mods) f14 PIrAM1IM9 Adam *WIMP Law NM *Vim Mt* w1 N1M° DESCRIPTION FOR BLAIR H. HILLSTEAD REVOCABLE TRUST, DATED 18 JUNE 1997 LYNETTE HILLSTEAD REVOCABLE TRUST, DATED 18 JUNE 1997 HILLSTEAD TRUST TRACT cop To -wit: That part of the W%aSW'V$ of Section 2, T31N R119W, Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 402 of Photostatic Records on pages 363 and 368, described as follows: BEGINNING at the southeast comer of said W%2SW%.; thence S89 45' -00 "W, 882.16 feet, along the south line of said SY2SW%., to the southeast spike of that tract of record in said Office in Book 448 of Photostatic Records on page 476; thence N01 11' -08 "E, 990.00 feet, along the east line of said tract, to the northeast point thereof; thence S89 45' -00 "W, 440.06 feet, along the north line of said tract and the north line of the second parcel described in that tract of record in said Office in Book 199 of Photostatic Records on page 508 to a point on the went line of said W'/2SW1/4; thence N01 11' -08 "E, 678.76 feet, along said west line, to the southwest point of that tract of record in said Office in Book 683 of Photostatic Records on page 578; thence N89 47' -40 "E, 30.00 feet, along the south line of said tract, to a point; thence N66 44' -49 "E, 186.67 feet, along a southeasterly line of said tract, to a point; thence N01°-11'-08"E, 570.50 feet, along the east line of said tract, to the northeast point thereof on the south line of the first parcel described in that tract of record in said Office in Book 199 of Photostatic Records on page 508; thence N89 45' -05 "E, 1120.23 feet, along said south line, to a point on the east line of said WY2SW'' thence S01 08' -11"W, 2312.13 feet, along said east line to the CORNER OF BEGINNING; ENCOMPASSING an area of 57.30 acres, more or less; the BASE BEARING for this survey is the south line of Section 2, T31N R119W, being S89 45' -00 "W; it is the intent of this description that the called -for monuments, and not the existing fence lines, control the location of the property lines; SUBJECT to an easement for State Highway 236 along the south boundary of the described tract; SUBJECT to an Access and Utility Easement of record in said Office in Book 368 of Photostatic Records on page 112; each "corner" found as described in the Comer Record filed or to be filed in the Office of the Clerk of Lincoln County; Widt131- 119.21ahir Hfllstad 'Modlfcation In any way of the foregoing desaipBeon terminates (lability of the surveyor' Prohookal Lad BVw,on Pia N. 8u* ,I WM. RtpbWm No. 104 RpYtoam No. 1H0 Idaho Ii dsONI:n No. =0 Nab No:den mNo. OoM A. Odotel Wyo. Rp4tAm No. UN Idaho RtOMOam No. 1070 lAth Rq,Otam No. 372111 NWLLgYE A 001CAOEL M,p INONtMon No. 5*S 6 Schottel. LTO, Moo. %win 119 ran wNbp Lou R tll�il L NOI 110go, lave aknbMM,.bho DESCRIPTION FOR BLAIR H. HILLSTEAD REVOCABLE TRUST, DATED 18 JUNE 1997 LYNETTE HILLSTEAD REVOCABLE TRUST, DATED 18 JUNE 1997 HILLSTEAD TRUST TRACT PAGE TWO each "point" marked by a 5/8" x 24" steel reinforcing rod with a 2" aluminum cap inscribed, "SURVEYOR SCHERBEL LTD AFTON WY PLS 5368 with appropriate details; each "spike" marked by a 3/8" x 12" steel spike, referenced by a 5/8" x 24" steel reinforcing rod with a 2" aluminum cap inscribed, "SURVEYOR SCHERBEL LTD AFTON WY PLS 5368 with appropriate details; all in accordance with the plat prepared to be filed in the Office of the Clerk of Lincoln County titled, "PLAT OF SURVEY FOR BLAIR H. HILLSTEAD REVOCABLE TRUST, DATED 18 JUNE 1997 LYNETTE HILLSTEAD REVOCABLE TRUST, DATED 18 JUNE 1997 WITHIN THE WV2SW% SECTION 2 T31N R119W LINCOLN COUNTY, WYOMING dated 1 April 2009, as revised. \T/Rk7I -1 I9- 21BLIr Mooed 'Modification In any way of the foregoing description terminates liability of the surveyor'