HomeMy WebLinkAbout888998888998
REOEtVED
LIN00LN COUNTY 0LERK
Do not write/type above this line. For filing purposes only.
RETURN TO
PREPARER:
Farm Credit Services of America, 1401 Wilkins Circle, PO Box 878 Dabble Smith
Casper, WY 82602-0878 (800)359-0235
Farm Credit Services of America
REAL ESTATE MORTGAGE
For the State of Wyoming
Open-End To Secure Present and Future Ob//Rations and Advances
Date: April 03, 2003
Mortgagor(s):
Canyon Limited Partnership, a Partnership
Thomas Dale Crank, AKA Thomas D. Crank and Corina E. Crank, husband and wife
Jere P Borino, single
Ron J Cattelan Jr and Jean Marie Cattelan, husband and wife
Mailing Address: PO Box 631
Kemmerer WY 831 01-0631
FORM 5014 (6-2001)
The above named Mortgagor(s) in consideration of the advance by Mortgagee of the principal sum specified below, the receipt of which is hereby
acknowledged, and any future, additional or protective advances made at Mortgagee's option, hereby sell, convey, and mortgage to Farm Credit
Services of America~ PCA, 5015 S 118th St; PO Box 2409, Omaha, Nebraska 68103-2409, Mortgagee, its successors and assigns, from the date
-~ ¢ hereof until all obligations secured hereby are paid in full, the following-described real estate in Lincoln County(ies), Wyoming, to wit:
¢'i,~ See attached Schedule "A"
together with all Mortgagor's right, title, and interest in the property now or hereafter acquired, including: all buildings, fixtures, crops, and
improvements now on or hereafter placed upon the propertyi all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income,
profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property
that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and
accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to
or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and
accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended, or
renewed by Mortgagor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively
referred to in this document as the "property."
It is understood and agreed between Mortgagor(s) and Mortgagee that this mortgage is given to secure the repayment in full of the following
described promissory note(s), and all future and additional loans or advances, protective or otherwise, which may be made by Mortgagee, at its
option, at the request of, and to or for the account of Mortgagor(s), or any of them, for any purpose, plus interest thereon, all payable according
to the terms of the note(s) or other instrument(s) modifying the same.
Date of Note Principal Amount
04/0312003 ' 100,000.00
Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of ONE HUNDRED
THOUSAND DOLLARS($ 100~000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s).
NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY
TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
This mortgage will be due April 01~ 2008.
Mortgagor(s) hereby warrants that Mortgagor(s) holds fee simple title to the above described property, that Mortgagor(s) has good and lawful
authority to mortgage the same, that the property is fr~e and clear of all liens and encumbrances, except encumbrances of record, and that
Mortgagor(s) will warrant and defend the property at Mortgagor's expense against all claimants whomsoever. Mortgagor(s) also hereby waives and
relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property.
Mortgagor(s) and each of them further covenant and agree with Mortgagee as follows:
1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon
the property or under any lease, permit, license, or privilege assigned to Mortgagee as additional security to this mortgage, including those in or on
public domain.
2. To insure and keep insured buildings and other improvements, including fixtures and attachments now on or hereafter placed on the property
to the satisfaction of Mortgagee. Such insurance will be approved by and deposited with Mortgagee, and endorsed with a mortgage clause with
loss payable to Mortgagee. Any sums so received by Mortgagee may be applied in payment of any indebtedness matured or unmatured secured
~"' *h,, .~ ~ mortgacia, cr at the optior, of Mortgagee may be used to pay for reconstrucdoa of tl~e destroyed improvements. Such insurance .~,,,.:" be in
an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will
at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
l/We will obtain and keep flood insurance in force to cover losses by flood as required by Lender and by the National Flood Insurance Act of 1968,
as amended, and by regulations implementing the same. I/We further agree that Lender is not and will not be liable for any failure by me/us or by
any insurer, for whatever reason, to obtain and keep this insurance in force.
3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair,
maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Mortgagee may
enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s).
4. In the event Mortgagor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property,
buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Mortgagee, at its option, may make such payments
or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be
immediately due and payable and bear interest at the default rate provided in the note(s) from the date of payment until paid. The advancement
by Mortgagee of any such amounts will in nOmanner limit the right of Mortgagee to declare Mortgagor(s) in default or exercise any of Mortgagee's
other rights and remedies.
Ap #: 00250209; Primary Customer ID #: 00097812; CIF #: 100769
FORM 5014, R Mortgage
Legal Doc. Date: Apd_l _0_~., 2003
Page 1
5. In the event Mortgagee is a party to any litigation affecting the property or the lien of this mortgage, including any action by Mortgagee to enforce
this mortgage or any suit in which Mortgagee is named a defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur
expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and other charges
and any amounts so advanced will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest
at the default rate provided in the note(s) from the date of advance until paid.
6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby assigned to Mortgagee; and Mortgagee is
hereby authorized to collect and apply the same in payment of any indebtedness, matured or unmatured, secured by this mortgage.
7. In the event of default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure
to perform or observe any covenants and conditions contained herein, in the note(s), loan agreement(s), or other instrument(s), or any proceeding
is brought under any Bankruptcy laws, Mortgagee, at its option, may declare the entire indebtedness secured hereby to be immediately due and
payable and the whole will bear interest at the default rate as provided in the note(s) and Mortgagee may immediately foreclose this mortgage or
pursue any other remedy at law or equity, including foreclosure by advertisement with a power of sale in Mortgagee to the extent provided by
applicable law. Delay by Mortgagee in exercising its rights upon default will not be construed as a waiver thereof and any act of Mortgagee waiving
any specific default will not be construed as a waiver of any future default. If the proceeds under such sale or foreclosure are insufficient to pay
the total indebtedness secured hereby, Mortgagor(s) does hereby agree to be personally bound to pay the unpaid balance, and Mortgagee will be
entitled to a deficiency judgment.
8. Upon default, Mortgagee will at once become entitled to exclusive possession, use, and enjoyment of the property and to all rents, issues, crops,
profits, and income thereof, from the time of such default and during the pendency of foreclosure proceedings 'and the period of redemption, the
delivery of which may be enforced by'Mortgagee by any appropriate suit, action, or proceeding. Mortgagee will be entitled to a Receiver for the
property and all rents, issues, crops, profits, and income thereof, without regard to the value of the property, or the sufficiency thereof to discharge
the mortgage debt and the foreclosure costs, fees, and expenses. Such Receiver may be appointed by any court of competent jurisdiction upon
ex parte application, notice being hereby expressly waived. The Receiver will apply all rents, issues, crops, profits, and income of the property to
keep the same in good repair and condition, pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to keep the
property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and apply the net proceeds to the payment of the
indebtedness secured hereby. Such Receiver will have all the other usualpbWers of receivers authorized by law and as the court may direct.
9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the obligations secured hereby. Should Mortgagor(s)
sell, transfer, or convey the property described herein without prior written consent of Mortgagee, Mortgagee, at its option, may declare the entire
indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default.
10. Assignment of Rents including Proceeds of Mineral Leases. Mortgagor(s) hereby assigns, transfers, and co'nveys to Mortgagee all rents,
royalties, bonuses, and delay moneys or other proceeds that may from time to time become due and payable under any real estate lease or under
any oil, gas, gravel, rock, or other mineral lease of any kind including geothermal resources now existing or that may hereafter come into existence,
covering the property or any part thereof. All such sums so received by Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee,
at its option, may turn over and deliver to Mortgagor(s) or their successors in interest, any or all of such sums without prejudice to any of
Mortgagee's rights to take and retain future sums, and without prejudice to any of its other rights under this mortgage. This assignment will be
construed to be a provision for the payment or reduction of the mortgage debt, subject to the Mortgagee's option as hereinbefore provided,
independent of the mortgage lien on the property . Upon payment in full of the mortgage debt and the release of this mortgage of record, this
assignment will become inoperative and of no further force and effect.
11. This Mortgage constitutes a Security Agreement with respect to all the property described herein.
12. The covenants contained in this mortgage will be deemed to be severable; in the event that any portion of this mortgage is determined to be
void or unenforceable, that determination will not affect the validity of the remaining portions of the mortgage.
Canyon Limited Partnership, A Partnership
C~rina E. Crank, a Gen-era'FF~r~ner/
/,~J_. C'at~fan Jr;, a General Partr~ '
BY :J~o~a q~n~ral Partne~
~Cran~ D~ ~~
Jeel~ Borinol /
P/Sn J Cattelan ,,Tr ~''
STATE OF ~.-"V/~CI,~q ;W.~.~
COUNTY OF Li'V}Ca~
Onthis ~-~,,~ dayo, ~; I'
Cofin~ E. Crank
Je)Cn Tvfi~rie Cattelan ....
GENERAL PARTNERSHIP BORROWER ACKNOWLEDGMENT
)
)ss
)
, ~..O~)-:~,before me, a Notary Public, personally appeared T4¢:~'~,~ ,~" /~
to me known to be the person(s) named in and who executed the foregoing
instrument, who did say that they are all the partners of (~'\ ~ ~, (.2~,% L (~.~ , .~- ~D ¢¢i. ~--~tA ¢'~ ~. ~/,; (/~ , a partnership,
and that the instrument was signed on behalf of the partnership Uy authority of the partners and the partners acknowledged the execution of the
instrument tobe the voluntary act and deed of the partnership by it and by them volun~r~ ~e~uted.
( ~Com~s~~S~ ( (Type name under signature)
My commissio~ex¢ir~ -¢~{-~.~- Notary Public in and for said County and State
% .... GENERAL PARTNERSHIP BORROWER ACKNOWLEDGMENT
STATE OF
COUNTY OF
On this
__ day of //__4, before me, a No('a'F¢-Publ~ally appeared.
Legal Doc. Date: April 03, 2003
Page 2
Ap #: 00250209; Primary Customer ID #: 00097812; CIF #: 100769
FORM 5014, Re . Aortgage
(SEAL) - i~ame under s/gnature) '
· N~State
My commission expires
INDIVIDUAL BORROWER ACKNOWLEDGMENT
STATEOF' tl'~,) ~)KY~ i' )
COUNTY OF ~-- ~ C(.,)~u,V~N'''~)) ss
to me known to be th8 per,on{s} ~m~d in ~nd who executed the ~orefloing instrument, and acknowledgeO that ~ executed the same
~'~,~ voluntary act and deed.
(SEAL) i COUNTY OF STATE OF
My commission'expires /0/15 / Z,O-oE,~r
/Type name under sz~nature)
Notary Public in and for said County and State
INDIVIDUAL BORROWER ACKNOWLEDGMENT
STATE OF
I ~ ss
COUNTY OF L
,
to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that ~ executed the same as
~ ~.~ voluntary act and deed.
/
My commission expires
(SEAL) ~ COUN]7 OF ~ STATE O~
t LINCOLN ~ WYOMING
J: ~ Com~ssion D, pires Oct. 15, 2~
/Type name under signature)
Notary Public in and for said County and State
INDIVIDUAL BORROWER ACKNOWLEDGMENT
, ~_)/)~, before me, a Notary Public, personally appeared
SS
toL~me known to be the person(s} named in and who executed the foregoing instrument, and acknowledged that
. t".~ voluntary act and deed.
executed the same as
(SEAL)
/Type name under signature)
Notary Public in and for said County and State
Ap #: 00250209; P*~ ......... m. ustomer ID #: 00097812; CIF #: 100769 .... -]-~- .... Legal Doc. Date: Ap ....
Page 4
FORM 5014, Real £ .'tgage
SCHEDULE A
T24N Rll6W of the 6th P.M., Lincoln County, Wyoming
Section 7:
Lots 2, 3,4, S1/2NE1/4 and NW1/4SE1/4
LESS AND EXCEPT the land contained in Warranty Deeds
recorded March 5, 1952 in Book 25 of Deed on page 526 and
recorded August 28, 1954 in Book 7PR on page 464 of
the records of the Lincoln County Clerk.
Section 8:
SW1/4NW1/4 and NW1/4SW1/4
Section 18:
Lots 1 and 2