HomeMy WebLinkAbout895001MORTGAGE
RECEIVED
LINCOLN COUNTY CLERK
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T~S MOkTGAGE, made this 7th day ~'~A~, ~003, between HOLilY A, TAYLO~ of
Lincoln County, Wyoming, hereinafter refe~ed to as the "Mortgagor," and CHLO~, ~E~T,,~ Iq
INTER ~VOS TR'UST of Lincoln County, Wyoming, hereinafter re~ed to as fh6&~Ia'~hg~a(~3;.d}H~
The Mo~gagee, for and in consideration o'fthe sum ofTWENTY-THOUS~ ~1)
NO/100THS DOLL,S ($20,000.00), lawful money of the ~Uni'ted States, paid to the Mortgagor by'the
Moagagee, the receipt of which is hereby confessed and acknowledged, does hereby grant, bargain, sell
and convey to the Mo~gagee forever, the following described real propeay situated in Lincoln County,
Wyoming:
A portion of the Robe~son propegy as refeged to in the Deed recorded'in Book 314PR on page
470, with the Office of the Clerk of Lincoln County, Wyoming, within the SW1/4NE 1/4, the
S 1/2~1/4 and the '~1/4SW1/4 of section 18, T34N R118W of the 6th P.M.' Lincoln County,
Wyo~ng, the metes and bounds being more pa~icularly describes as follows:
BEGINNING at the Aluminum cap on an Iron Pipe set, marking a point in the South line of said
SW1/4NE1/4, said Point being 200.00 feet S 89degrees56'48" W, along said South line from the BL.M.
type Monument found marking the Lloyd B. Baker (PE/LS 598) 1989 location lbr the Southeast corner of
said SWI/4NE1/4;
thence S 89degrees56'48" W, continuing along said South line, 182.57 feet to the Aluminum
Cap on an Iron Pipe set;
thence N 1 degree 05'48' E, parallel with the East line of said SWl/4Nel/4, 1184.51 feet to a
point in the Center Line of an existing ditch;
thence N 84degrees02'49" E, along said Center Line, 171.13 feet;
thence N 89 degrees45'27" E, continuing along said Center Line, 12.40 feet;
thence S ldegree05'38" W, parallel with said East Line, 1202.14 feet to the POINT OF
BEGINNING.
Together with all buildings and improvements thereon, or which may hereafter be placed thereon; all
fixtures now or hereafter attached to said premises; all water and water rights, ditches and ditch rights,
reservoirs and reservoir rights, and irrigation and drainage rights; and all easement, appurtenances and
incidents now or hereafter belonging or appertaining thereto; subject however; to all conditions,
easements, and rightS-of-way, and to mineral, mining and other exceptions, reservations and conditions of
record.
TO HAVE AND TO HOLD the said real property forever, the Mortgagor hereby relinquislfing
and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming.
Mortgagor covenants that at the signing and delivery of this mortgage, said Mortgagor is
lawfully sized in fee simple of said real property, or has such other estate as is stated herein; has good and.
lawful right to mortgage, sell and convey all of said property; and warrants and will defend the title tO all
of said property against all lawful claims and demands, and that the same is free from all encumbrances.
This Mortgage is not assumable by any other parties unless agreed to, in writing, by the
financing institution.
However, this mortgage is subject to the express condition that if the Mortgagor pays, or causes
to be paid, to the Mortgagee the sum oF TWENTY THOUSAND AND NO/100THS ($20,000.00) Dollars,
together with interest thereon at the rate of seven per cent (7%) per annum from October 15, 2003 until
paid, according to the condition of that certain promissory note dated October 15, 2003, the ultimate
maturity date of which is October 15, 2008, which promissory note was executed and delivered by Holly
. A. Taylor to the Mortgagee, which sum or sums of money the Mortgagor hereby covenants to pay, and
until such payment, performs all of the covenants and agreements herein to be performed by Mortgagor,
then this mortgage and said note shall cease and be null and void.
Mortgagor and Mortgagee fiarther covenant and agree as follows.
Mortgagor shall pay the indebtedness as herein provided, and the lien of this instrument
shall remain in full force and effect during and postponement or extension of the time of
payment of any part of the indebtedness secured hereby.
Mortgagor shall pay ail taxes and assessments levied or assessed against said property.
Mortgagor shall not commit or permit waste, nor be negligent in the care of said property,
and shall maintain the same in as good condition as at present, reasonable wear and tear
excepted, and will do nothing on or in connection with said property which may impair the
security of the Mortgagee hereunder. Mortgagor shall not permit said property, or any part
thereof, to be levied upon or attached in any legal or equitable proceeding, and shall not,
except with the consent in writing of the Mortgagee, or as is otherwise provided and
790
permitted in the mortgage, remove or attempt to remove said improvements or personal
property, or any part thereof, from the premises on which the same are situated.
4. As collateral and Further security for the payment of the indebtedness hereby secured,
Mortgagor shall keep the improvements now existing or hereina~er erected on said
premises insured against loss by fire, with extended coverage prOvisions, in a sum not less
than the Full insurable value for the term of' this mortgage and will pay when due all
premiums on such insurance. All insurance shall be carried in responsible insurance
companies and the policies and renewals thereof shall have attached thereto loss payable
clauses in favor of the Mortgagee. The insurance proceeds, or any part thereof, may, at the
option of the Mortgagee, be applied either to the reduction of the indebtedness hereby
secured or paid to the Mortgagor.
$. If Mortgagor defaults in the payment of the taxes, assessments, or other lawful charges or
fails to keep the improvements on said premises insured as herein provided, the Mortgagee
may, without notice or demand, pay the same or effect such insurance, and if the
Mortgagor failed to keep said property in good repair, the Mortgagee may make such
repairs as may be necessary to protect the property, all at the expense of the Mortgagor.
The Mortgagor covenants and agrees that all such sums of money so expended, together
with all cost of enfomement or foreclosure, and a reasonable attorney fee, shall be added to
the debt hereby secured, and agrees to repay tile same and all expenses so incun-ed by the
Mortgagee, with interest thereon from the date of payment at the same rate as provided in
the note hereby secured, until repaid, and the same shall be a lien on all of the said property
and be secured by this mortgage.
6. If tile mortgagor defaults in tile payment of the indebtedness hereby secured, or of any part
or installment of principal or interest, for a period of thirty (30) days after the same shall
become due and payable, or if the Mortgagor removes or attempts to remove any of said
impro'vements or personal property contrary to the provisions of this~mortgage, or in case
of breach of any covenant or agreement herein contained, the whole of the then
indebtedness secured hereby, both principal and interest, together with all other sums
payable pursuant to the provisions hereof, shall, at the option of the Mortgagee, become
immediately due and payable, anything therein or in said note to the contrary
notwithstanding, and failure to exercise said option shall not constitute a waiver of the
right to exercise the same in the event o:f any subsequent defaultl The Mortgagee real),
enforce the provisions ofT, or foreclose this mortgage by any appropriate suit, action or
proceeding at law or in. equity, and cause to be executed and delivered to the purchaser or
purchasers at any foreclosure sale a proper deed of conveyance of the property so sold.
The Mortgagor agrees to pay all costs of enforcement or foreclosure, including a
reasonable attorney fee. The failure of the Mortgagee to promptly foreclose upon a default
shall not prejudice any said right of said Mortgagee to foreclose thereafter during the
continuance of such default or right to foreclose in case of tklrther default or defaults. The
net proceeds fi-om such sale shall be applied to the payment of (1't) the cost and expenses
of the foreclosure and sale, including a reasonable attorney fee, and all moneys expended
or advanced by the Mortgagee pursuant to the provisions of this mortgage; (2'd) all unpaid
taxes, assessments, claims and liens on said property, which are superior to the lien hereof;
(3® the balance due Mortgagee on account of principal and interest on the indebtedness
hereby secured; and the surplus, if any, shall be paid to the Mortgagee.
7. If the property described herein is sold under foreclosure and the proceeds are insufficient
to pay the tOtal indebtedness hereby secured, the Mortgagors executing the note or notes
fbr which this mortgage is secured shall be personally bound to pay the unpaid balance,
and the Mortgagee shall be entitle to a deficient judgment.
8. I:fthe right of foreclosure accrues as a result of any default hereunder, the Mortgagee shall
a.t once become entitled to exclusive possession, use and employment of all property
aforesaid, 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, and such
possession, rents, issues and profits shall be delivered immediately to the Mortgagee on
request. On reFusal, the delivery of such possession, rents, issues and profits may be
enforced by the Mortgagee by any appropriate suit, action or proceeding. Mortgagee shall
be entitled to a Receiver for said property and all rents, issues and profits thereof, after any
such default, including the time covered by tbreclosure proceedings and the period of
redemption, and without regard to the value of said property, or the sufficiency thereof to
discharge the mortgage debt and foreclosure costs, fees and expense. Such Receiver may
be appointed by any court of competent jurisdiction upon ex parte application, notice being
hereby expressly waived, and the appointment of any such Receiver on any such
application without notice is hereby consented to by the Mortgagor. All Rents issues and
prOfits, income and revenue of said property shM1 be applied by such Receiver according
to ]aw and the orders and directions of the court.
9. The acceptance of this mortgage, and the note or notes }t secures, by the Mortgagee shall
be an acceptance of the terms and conditions c0nta~ned therein~ and a duly executed and
delivered release of this mortgage by any one or more of the Mortgagees shall bca va~d
and e~ecfive re]ease as to al~ of said Mortgagors, and of sa~d mortgage.
10. The covenants heroin contained shall bind, and the bene~ts and advantages shal] inure to,
thc respective he,rs, devisees, legatees, executors, administrators, successors and assigns of
the pan~es hereto. ~enever used the s~ngu~ar number sh~] include the plural, the p}ura]
the sin~lar, and the use of any gender sha~ ~nc]ude al] genders. The te~s "forec]osure"
and "foreclose~" as used hem}n, sha~l include the right of forec]osure by any sult~ action or
proceedlng at }aw or ~n equity, or by advertisement and sa~e of sa~d premises or ~n any
other manner now or hema~er provide by ~yom~ng statutes, ~nc]ud~ng the power to se]L
IN ~I~ESS ~ROF, tMs mortgage has been executed by the Mortgagors the
date first above written. ·/I ~~
Holly A. Taylor d
Acknowledgement
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN. )
On this ~_6 day of (~7~.~h~_'~', 2003, before me personally appeared Holly ^. Taylor,
to me known to be the persons described in and who executed the foregoing instrument, and
acknowledged that tbey executed the some as their free act and deed, including, the release and
waiver of homestead.
.Given under my hand and seal the first above written.
~rr ~NotaryPublic ~
County o¢ ~,~,~-,~ State of {{
Teton ~ Wyoming Il
My Commission Expires June 17, 2006 ))
conunission expires ~-t ~ - ~
Notary Public