HomeMy WebLinkAbout891992~BOOK PR'"P~GE
RECEIVED
LINCOLN COUNTY CLERK
MORTGAGE
8 9 I 99 2 03
JEANNE WAGNER
KNOWALLMENBYTHESEPRESENTS, that RANDY J. ~nu~wvbUN and ,, .,,,r,~ ....
HEATHER L. THOMPSON, husband and wife, of 505 Twin Cliffs Road, Afton, County
of Lincoln, State of Wyoming, 83110, (hereafter Mortgagee), hereby secure the
payment of'the principal sum of one hundred, fifty thousand ($150,000.00) dollars plus
interest in the amount of 4.5%, as evidenced by a Promissory blote dated of eVen date
herewith, to the order of LaMONT MERRITT, a single person, (hereafter Mortgagor), to
be paid as follows:
On the date of the execution of this mortgage and the promissOry note of
even date, the mortgagee will pay to the mortgagor the amount of THIRTY THOUSAND
DOLLARS $30,000.00).
The mortgagee shall pay to the mortgagor the Unpaid balance to be
amortized over fifteen (15) years at 4.5% interest on the unpaid balance.
3. The principal and interest shall be paid and applied pursuant to the
AmOrtization Schedule attached as "Exhibit A" made part of this document by reference
and incorporation.
4. Mortgagee may prepay the principal amount in whole or in part al: any time
without penalty. Any partial prepayment shall be applied against the principal amount
outstanding and shall, not postpone the due date of any subsequent installments or
change the amount of such installments, unless the mortgagor shall otherwise agree in
writing.
Page I of 7
380
5. If any payment is made more than 10 days after the date due the
mortgagee shall pay an additional twenty-five dollars ($25.00) in the form of a late
payment charge.
6. Any and all terms of the promissory note of even date are herein
incorporated and made part of by reference as if fully set forth herein.
MORTGAGOR hereby mortgages to mortgagee, the following described real estate,
situated in the County of Lincoln, State of Wyoming:
Apart of the SW ¼ SE ¼, Section 18, T32N,
R118W, WYOMING, described more fully
as "Exhibit B", attached hereto and
incorporated as if fully set forth within.
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 seized 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.
MORTGAGEE covenants with mortgagor as follows:
1. In case of default in any of the payments stipulated in the note,
mortgagee, as further security for this mortgage and the note secured thereby,
Page 2 of 7
381
hereby assigns, sets over, and conveys to mortgagor 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 mortgagor 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.
5. Nothing shall be done on or in connection with the property that 'may
impair mortgagor's security hereunder; mortgagee will commit, permit to 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
mortgagee at his expense.
6. Mortgagor and mortgagee agree that there are no insurable
improvements on the property. Therefore, mortgagee is not required to carry insurance
on the premises.
7. In case mortgagee 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, mortgagor may without notice or demand pay the same
Page 3 of 7
382
and in case of any failure on the part of mortgagee to comply with the covenants of
Paragraph 5 hereof, mortgagor may effect such repairs as it may reasonable deem
necessary to protect the property, at the expense of mortgagee. Mortgagee shall repay
such sums so paid and ail expenses so'incurred by mortgagor, with interest thereon
from the date of payment, at eight percent (8%) 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
mortgagor so elects, become due and payable forthwith, anything herein contained to
the contrary notwithstanding.
8. In the event the property is sold under foreclosure and the proceeds are
insufficient to pay the total indebtedness secured hereby, mortgagee binds itself
personally to pay the unpaid balance, and mortgagor will be entitled to a deficiency
judgment.
9.
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 mortgagor, 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
Page 4 of 7
383
mortgagor 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 VVyoming 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 reasonable
attorney fees, and in payment of all money expended or advanced by mortgagee
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 mortgagor 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.
10. In case of any default whereby the right of foreclosure occurs hereunder,
'mortgagor 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 mortgagor on request, and on refusal, the delivery of such possession,
rents,, issues, and profits may be enforced by mortgagor by any appropriate civil suit or
proceeding, including action or actions in ejectment, or forceable entry, or unlawful
Page 5 of 7
detainer; and mortgagor: 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
mortgagee or the then owner of the property, and without regard to the value of the
property of 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 waiver, and the appointment of any such receiver on any such application
without notice being hereby consented to by mortgagee on mortgagee'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.
11. Mortgagee may not convey or transfer any interest in or encumber the
described premises without the prior written consent of the mortgagor. Mortgagee must
give mortgagor written notice of mortgagee'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 mortgagee without mortgagor's prior
written consent, excluding death of a joint tenant or the grant of any leasehold interest
of three (3) years or less not containing an option to purchase, mortgagor may, at its
option, declare the entire remaining balance due under this agreement to be
immediately due and payable and give written notice to mortgagee thereof. After
receipt of such. written notice, mortgagee shall have thirty (30) days in which to pay the
Page 6 of 7
entire remaining balance to mortgagor.
385
12. The covenants herein contaihed 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.
13. 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, mortgagee has caused this mortgage to be executed by its
authorized officers as of the "~.q day of July, 2003.//
THER L. THOMPSON
STATE OF WYOMING
CO UNTY OF LINCOLN
The foregoing was acknowledged before my by RAND Y J. THOMPSON and HEATHER
L. THOMPSON, husband andwife, this Dcq~.~day of July, 2003.
WITNESS my hand and official seal.
NOTARY PUBLIC
My co/n/nission expires:
b,-\%,ob
, Lincoln ~/.¥,~35~t Wyoming
Page 7 of 7
June ! 7, 2003
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Mortgage amount $ J120000.00 j~ (Do n0tusecommas.)
Mortgage term ~ ~ years
Interest rate ~ ~ %' per year
Monthly mortgage payment $ 1917.99 !~
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Adding $ 182.01
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l.2003
I Jul 1, 2015 ' ',~
Amortiz~ion Table for $120000.00 borrowed on Jul 1, 2003
M°nlhl 8 I 9 10 I H 1!2
~'+" '/ ~'--'-- -"-~' '-,,~:/.www.umu, aate. cmruvrrrurnortgage-caicuiatol BlT NO.
6/17/2003
Page 1 of 2
387
Amortlzallon Table 1or $120000.00 borrowed on Jul 1, 2003
Mono 8 9 10 11 12 1 2 3 4 5 6 7
Year 2003 2003 2003 2003 2003 ' 2004 2004 2004 2004 2004 2004 2004
Payment ($)- 1000.00 IO00.OQ 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($) 550.00 552.06 554.13 556.21 558.30 560.39 562.49 564.60 566.72 568.85 570.98 1573.12
Inler~t Paid ($) 450.00 447.94 445.87 443.79 4~1.70 439.61 437.51 435.40 433.28 431.16 429.02 426.88
Total Interest ($) 450.00 697.94 1343.80 1787.59 2229.30 2668.91 3.106.42 3541.81 3975.10 4406.25 4835.28 5262.16
Balance(S) 119450.00 118897.93 2118343.80 117787.59 117229.29 116668.90 116106.40 115541.80 114975.08 ,114406.23 113835.25 112262-14
Month 8 g 10 11 12 1 2 3 4 5 6 7
Year 2004 2004 2004 2004 2004 2005 2005 2005 2005 2005 2005 2005
Payment ($) 1000.00 1000.00 1000.00 1000.00 1000,00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($) 579.02 581.19 563.31 565.56 561.15 589.96 592.17 594.39 596.62 598.86 601.10 1603.36
Inlereet Paid ($) 420.98 418.81 416.63 414.44 412.25 410.04 407.63 405.61 403.38 401.15 398.90 396.65
Totallntereet ($) 5683.14 6101.95 6518.59 6933.03 7345.28 7755.32 8163.16 8568.77 8972.15 9373.30 9772.20 10168.64
Balance(S) 111683.12 111101.93 110518.561 109933.00 109345.25 1108755.29 108163.12 107568.73 106.972.11 106373.25 105772.15 104168.7~
Month 8 9 10 11 12 I 2 3 4 5 6 7
Year 2005 2005 2005 2005 2005 2006 2006 2006 2006 2006 2006 2006
Paymenl ($) 1000.00 1000.00 1000.00 1000.0O 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($) 609.37 611.65 613.95 616.25 618.56 620.88 623.21 625.55 627.89 630.25 632.61 1834.98 '
Intereet Paid ($) 390.63 388.35 386.05 383.75 381.44 379.12 376.79 374.46 372.11 369.76 387.39 385.02
Totallnterest ($) 10559.47 10947.82 11333.88 11717.63 12099.07 12478.19 12854.98 13229.44 13601.55 13971.30 14338.70 14703.72
Balance(S) 103559.43 102947.77 102333.82 101717.57 101099.01 100478.13 99854.92 99229.38 98601.48 97971.24 97338.63 95703.65
Month 8 9 10 11 12 1 2 3 4 5 6 i
Year! 2006 2006 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007
Payment ($)~ 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($); 641.11 643.52 645.93 648.35 650.78 653.22 655.67 658.13 660.60 663.08 665.56 1668.06
Interest Paid ($) 358.89 386.48 354.07 351.85 349.22 346.78 344.33 341.87 339.40 336~2 334.44 331.94
Totallnterest ($) 15062.61 15419.09 15773.16 16124.81 16474.03 16820.81 17165.13 17507.00 17848.40 18183.33 18517.78 18849.10
Balance (S) 95062-53 94419.02 93773.09 93124.73 92473.95 91820.72 91165.05 g0506.92 8984fi.32 89183.24 88517.67 86849~61
Month 8 9 * 10 11 12 t 2 3 4 5 6 7
Year 200/' 2007 2007 2007 2007 2000 2008 2008 2008 2008 2008 2008
Payment ($) 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000'.00 t000.00 1000.00 1000.00 2000.00'
Principal Paid ($) 674.32 676.84 679.38 681.93 684.49 687.05 689.63 692.22 694.81 697.42 700.03 170Z66
Interest Paid ($) 325.69 323.16 320 62 318.07 315.51 312.95 310.37 307.78 305.19 302.58 299.97 297.34
Total lntereet ($) 19175.39 19498.55 19819.17 20137.24 20452.75 20765.70 21076.07 21383.86 21689.05 21991.63 22291.60 22568.94
Balance ($) 86175.30 85498.45 84819.07 84137.14 83452.65 82765.60 82075.96 81383.75 80688.93 79991.52 79291.48 77588.82.
Month 8 9 10 11 12 1 2 3 4 5 6 7
Year 2008 2008 2008 2008 2008 2009 2009 2009 2009 2009 2009 2009
Payment ($) 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($) 709.04 711.70 714.37 717.05 719.74 . 122.44 725.15 727.87 730.60 133.34 736.09 1138.85
Interest Paid ($), 290.96 288.30 285.63 282.95 280.26 271.56 214.85 272.13 269.41 266.67 263.92 261.16
Tota~'lnterest($) 22879.90 23168.20 23453.83 23736.78 24017.04 24294.61 24569.46 24841.59 25111.00 25377.67 25641.58 25902.74
Balance(S) 76879.78 76168.08 75453.71 74736.65 74016.92 73294.48 72569.33 71841.46 71110.87 70377.53 89641.44 87902.60
Month 8 9 10 11 12 1 .... 2 3 4 5 6 7
Year 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2010 2010
Payment ($) 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($) 745.37 748.16 750.97 753.78 756.61 759.45 762.30 765. t5 768.02 770.90 773.79 1778.70
Interco1 Paid ($) 254.63 251.84 249.03 246.22 243.39 240.55 237.71 234.85 231.98 229.10 226.21 223.31
http://www, bankrate.com/bnn/mortgage-calculator, asp?unroundedPayment=910.3420136... 6/17/2003
Page 2 0[2
388
Tolallnterest ($) 26151.37 26409.21 26658,25 26904.45 27147.85 27388.41 27626.11 27860,96 28092.94 28322.04 28548.24 25771.55
., . Balance ($) 57157.23 66409.07 65658.10 64904.32 64147.71 63388.26 52625.96 51860.8' 61092.78 60321.58 59548,08 57771.39
Monlh 8 9 10 11 12 1 2 3 4 5 6 7
Year 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011
Payment ($) 1000.00 1000,00 1000,00 1000.00 1000.00 1000,00 1000.00 1000,00 1000.00 ' 1000.00 1000,00 2000.00
Princi.pal Paid ($) 783.36 786.30 789,25 792,21 795.18 798.16 801.15 804.16 807.17 810,20 813.24 1816.29
Interest Paid ($) 216.64 213.71 210.76 207.80 204.83 201.84 198.85 195.88 192.83 189.80 186.77 183.72
To!ailnterest ($) 28988,19 29201.90 29412.65 29620.45 29825.28 30027.12 30225.97 30421.82 30614.65 30804.45 30991.22 31174.94
Balance ($) 56988,03 56201.73 55412.48 54620.28 53825.10 53026.95 52225.79 51421.64 50614.47 49804.27 48991.04 47174.75
Month 8 9 10 11 12 1 2 3 4 5 6 7
Year 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2012 2012
Payment ($) 1000.00 1000.00 1000.00 1000,00 1000.00 1000.00 1000,00 1000.00 1000.00 1000,00 1000.00 2000.00
Principal Paid ($) 823.10 826.18 829.28 832.39 835.51 838.65 841.79 844.95 848.12 851.30 854.49 1857.69
Interest Paid ($) 176.91 173.82 170.72 167.61 164,49 161.36 158.21 155.05 151.89 148.71 145.51 142.31
Totallnterest ($) 31351,84 31525.66 31696.38 31063.99 32028.48 32189.84 32348,05 32503.10 32654.99 32803.69 32949.21 33091.52
Balance ($) 48351.65 45525.47 44696.19 43863.80 43028.28 42189.64 41347.85 40562.90 39654.78 38803.49 37949.00 36091.31
Month 8 9 10 11 12 1 2 3 4 5 6 7
Yea 2012 2012 2012 2012 2012 2013 2013 2013 2013 2013 2013 2013
Payment ($) 1000,00 1000.00 1000.00 1000.00 11100.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000,00 2000.00
Principal Paid ($) 864.66 867.90 871.16 874.42 877.70 880.99 884.30 887.61 890.94 '894.28 897.64 1901.00
Interest Paid ($) 135,34 132.10 128.85 125.56 122.30 119,01 115.70 112.39 I09.06 105,72 102.36 99.00
Total Interest ($) 33226,86 33358.96 33487.80 33613.38 33735.68 33854.69 33970.39 34082.78 34191.84 34297.56 34399.92 34498.92
Balance(S) 35226.65 34358.74 33487.59 32613.16 31735.48 30854.47 29970.17 29082.56 28191.61 27297.33 26399.69 24498.69
Month 8 9 10 11 12 1 2 3 4 5 6 7
Year I 2013 2013 2013 2013 2013 2014 2014 2014 2014 2014 2014 2014
Payment ($) 1000,00 1000.00 1000,00 1000,00 1000.00 1000,00 1000,00 1000.00 1000.00 1000.00 1000.00 2000.00
Principal Paid ($) 908.13 911.54 914,96 918.39 921.83 925.29 928.76 932.24 935.74 939.25 942.77 1946.30
I
Interest Paid ($) 91.87 88.46 85.05 81.62 78.17 74.71 71.24 67.76 64.27 60.,26 ' 57.23 53.70
Total Interest ($) 34590.79 34679.26 34764.30 34845.92 34924.09 34998,8~ 35070.05 35137.81 35202.08 35262.83 35320.07 35373.77
Balance ($) 23590.56 22679.02 21764.07 20845.68. 19923.85 18998.56 18069.80 17137.56 1'6201.83 15262.58 i4319.81 12373.51
Month 8 9 10 11 12 1 2 3 4 5 6 7
Year 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015
Payment ($) 1000,00 1000.00 1000.00 1000.00 1000,00 1000.00 1000.00 1000.00 1000.00 1000,00 1000.00 1691.31
Principal Paid ($) 953.60 957.18 960.77 964.37 967.99 971.62 975.26 9~'8.92 962.59 985.27 989.97 1684.99
Interest Paid ($) 46.40 42.82 39.24 35.63 32.02 28.39 24.74 21.09 17.41 13.73 10,03 6.32
Totalinterest ($) 35420.17 35462.99 35502.23 35537.86 35569,88 35598.26 35623.01 35644.09 35661.51 35675.24 35685.27 35691.59
Balance ($) 11419.91 10462.73 9501,97 8537.60 7569.61 6597.99 5622.74 4643.82 3661.23 2674.96 1684.99 0.00
http://www, bankrate.com/brm/mortgage_calculator, aspTunroundedPayment=910.3420136... 6/17/2003
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ALTA COMMITMENT- 1982 - WY.
389
Commitment No.- FA 10471 O
SCHEDULE C
The land referred to in this commitment is situated in the State of Wyoming, County of Lincoln, and is described as
follows: .
A part ~f the SWWSE~ of Section 18, T32N Rll8W of the 6th P.M., Lincoln
County, Wyoming described as follows:
Beginning at a point 475.9 feet East, along section line and 65.3 feet
north from the South ~ corner of said Section 18 and running
thence S 42°48' W, along irrigation canal centerline, 120.00 feet;
thence N 31°01' W, along canal centerline, 74.8 feet;
thence N 19022, W, along canal centerline, 146.9 feet;
thence N 87o00, E, along existing fence line, 271.1 feet;
thence southerly and westerly along centerline of right of way to
point of beginning.
Right of way centerline is more particularly described as follows:
Beginning at the same point of beginning'described above, and running
thence N .57o24' E, 110.5 feet;
thence N 15030, E, 109.6 feet;
thence N 7710' W, 141.2 feet to the north property tract boundary.
11/91
IEX-HIBIT