HomeMy WebLinkAbout897723::!i',,':::::': ?EOE!VED
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897723
This SecondMortgageismadethe ~x'Qr/ c] day of March 2004, by and between Ben
Goe and Nicole Goe, husband'and wife, hereinafter referred to as the "Mortgagor", and G & G
Carpets and Flooring, LLC, or Wade ~. Grant, Jr., hereinafter referred to as "Mortgagee".
The Mortgagor, for and in consideration of the sum of TWENTY THOUSAND
DOLLARS ($20,000.00), lawful money of the United States and other valuable consideration,
loaned to the Mortgagor by tile Mortgagee, the receipt of which is hereby confessed and
aclmowledged, does hereby mortgage to the Mortgagee forever, the following described real and
Personal property situate in the County of Lincoln, State of Wyoming:
Lot 9 Trail Creek Subdivision, Lincoln County, Wyoming, according to that Plat
filed April 3, 2002 in the Office of the Lincoln County Clerk as Plat No. 196F.
Together with all buildings and improve~nents thereon, or which may hereafter be placed
thereon; alt 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
easements, appurtenances and incidents now or hereafter belonging or appertaining there to;
subject, however, to all covenants, 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 and personal property forever, the Mortgagor
hereby relinquishing 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 possessed of said personal property; is lawfully seized in fee simple of said real
property, or has such other estate as is stated hereto; 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, except for
a First Mortgage as described in paragraph 6 below.
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 Dollars ($20,000.00), together
without interest until paid, according to the conditions of a Promissory Note of even date
herewith, which Promissory Note was executed and delivered by the Mortgagor to the
Mortgageel WhiCh Sum or sums of money the Mortgagor hereby covenants to pay, and until such
payment, perfom~s 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 further covenant and agree as follows:
1. Payment. Mortgagor shall pay the indebtedness as herein provided, and the
lien of this instruinent shall remain in full force and effect during any postponement or extension
of time of payment of any part of the indebtedness secured hereby.
2. Prepayments. The Mortgagor shall have the privilege of paying any
principal sum or sums plus accrued interest, in addition to the payments herein required, at any
time without premium or penalty of any kind, and it is understood and agreed that any such
prepayment shall be credited first to interest and the balance to principal in the inverse order of
when due.
3. Transfer of the Property. If all or any part of the property or any
interest herein is sold or transferred by any means by Mortgagor without Mortgagee's prior
written consent, excluding the creation o f a lien or encumbrance subordinate to this Mortgage or a
transfer by devise, descent or by operation of law upon the death of a joint tenant, Mortgagee
may, at Mortgagee's option, declare all the sums secured by this Mortgage to be immediately due
and payable. Any delay or failure on the part of the Mortgagee to demand payment shall not
prejudice the Mortgagee's right there to. Mortgagee shall have waived such option to accelerate
if, prior to the sale or transfer, Mortgagee at Mortgagee's sole discretion, enters into a written
agreement with the person whom the property is to be sold or transfen'ed expressly consenting
to such assumption and setting forth any new terms or conditions of this Mortgage as may be
requested by the Mortgagee in exchange for the Mortgagee agreeing to an assumption of this
Mortgage.
4. TaxesandAssessments. Mortgagor shall pay all taxes and
assessments levied or assessed against said property.
5. Maintenance of 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 xvear 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 hereof, 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
Second Mortgage:
$20.000.00 Page 2 o! 6
9eh and Nicole Goe, Mortgagor
G & G Carpets and Flooring, LLC of Wade J,~_Grant, Jr., Mortgagee
provided and permitted in this Mortgage, remove or attempt to remove said improvements or
personal property, or any part hereof, from the premises on which the same are situated.
6. SecondMortgage. Mortgagor will not enter into or consent to any
extension, renewal, replacement, increase in balance, amendment or modification of the FirSt
MOrtgage with First Bank of the Tetons (or its successors or assigns) as filed in the Office of the
Lincoln County Clerk in Kemmerer, Wyoming, or the indebtedness secured thereby without the
prior written consent of the Mortgagee, except for any modification which in no way adversely
affects or might adversely affect the rights and interests of the Mortgagee hereunder.
The Mortgagor covenants and agrees with the Mortgagee that the Mortgagor will not
permit any default to occur or remain in effect under the First Mortgage or the indebtedness
secured hereby. The Mortgagee shall be deemed to be a third-party beneficiary of the rights of
the Mortgagor under the First Mortgage and may take action to enforce the obligations of the
Mortgagor thereunder, and the Mortgagee is hereby granted full power and authority to cure any
default of the Mortgagor under the First Mortgage and the indebtedness secured thereby and may
take any action deemed by the Mortgagee to be necessary or desirable in obtaining a full or partial
release of the property secured hereby fi'om the lien of the First Mortgage, in each case with full
rights o£subrogation under the First Mortgage, and provided in each case that the Mortgagee
shall be under no obligation to do fl~e same. Any sums advanced by the Mortgagee with respect
to the First Mortgage shall be secured by such subrogation rights and, to the extent not so
secured, shall be deemed to be advanced pursnant to this paragraph.
The Mortgagor shall promptly notify the Mortgagee of any default or alleged default
under the First Mortgage and of any other notices or communications fi'om the Mortgagee
thereunder.
7. MortgageeAuthorizedto Make Payments. If Mortgagor defaults in the
payment of the taxes, assessments or other lawful charges, including any construction loan
payments, as herein provided, the Mortgagee may, without notice or demand, pay the same, and
if the Mortgagor fails 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 costs
of enforcement or foreclosUre, and a reasonable attorney fee, shall be added to the debt hereby
secured, and agrees to repay the same and all expenses so incurred by the Mortgagee, with
interest thereon fi'om 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 said property and be secured by this
Second Mortgage:
$20,000.00 Page 3 oi' 8
Ben and Nicole Goe, Mortgagor
G & G Carpets and Flooring, LLC or Wade,,~ Grant, Jr., Mortgagee
Mortgage.
8. Default.
If the Mortgagor defaults in the payment of the indebtedness
hereby secured, or any part or installment of principal or interest, for a period of thirty (30) days
after written notice, or if the Mortgagor removes or attempts to remove any of said
improvements 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 herein 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 of any subsequent
default. The Mortgagee may enforce the provisions of, 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 hereby grants the Mortgagee the power to foreclose by
advertisement and sale as provided by statute. All remedies provided in this Mortgage are
distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or
equity and may be exercised concurrently, independently or successively. The Mortgagor agrees
to pay all costs of enforcement or foreclosure, including a reasonable attorney fee. The failure of
the Mortgagee to foreclose promptly upon a default shall not prejudice any right of said
Mortgagee to foreclose thereafter during the continuance of such default or right to foreclose in
case of further default or defaults. The net proceeds from such sale shall be applied to the
paylnent of: first, the costs 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; second, all unpaid taxes, assessments, claims and liens on said property, which
are superior to the lien hereof; third, 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
Mortgagor.
9. SufficiencyofForeclosureProceeds. If the property described herein is
sold under foreclosure and the proceeds are insufficient to pay the total indebtedness hereby
secured, Mortgagor shall be personally bound to pay the unpaid balance, and the Mortgagee shall
be entitled to a deficiency judgment.
10. Notices. Notice and demand or request shall be in writing and may be served
either in person or by certified mail, return receipt requested, notice shall be deemed given when
Second Mortgage:
$20.000.00
Page 4 o! 6
Ben and Nicole Goe. Mortgagor
G & G Carpels and Flooring, LLC or Wade,~ Granl, Jrt, Mortgagee
mailed and shall be addressed as follows or at such other .address as either party may from time
to time designate in writing:
Mortgagor: P.O. Box 2902
Jackson, WY 83001
Mortgagee: P.O. Box 12687
Jackson, WY 83002
'11. Headings. The headings used in this Mortgage are for convenience only and
are not to be used in its construction.
12. BindingEffect and Construction. The covenants herein contained shall bind,
and the benefits and advantages shall inure to, the respective heirs, devisees, legatees, 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.
The terln "note" includes all notes herein described if ~nore than one. The terms "foreclosures"
and "foreclose" as used herein, shall include the right of foreclosure by any suit, action or
proceeding a~ law of in equity, or by advertisement and sale of said premises, or in any other
maimer now or hereafter provided by Wyoming statutes, including the power to sell.
13. Release. The acceptance of this mortgage and the note or notes it 'secures,
by the Mortgagee shall be an acceptance of the terins and conditions contained therein. Upon
payment of all sums secured by this Mortgage, Mortgagee shall release this Mortgage without
Charge to Mortgagor. Mortgagor shall pay all costs of recordation, if any.
14. Waiver of Homestead.
Mortgagor hereby relinquishes and waives all rights
Second Modgage:
$20,000.00
Page 5 of 6
Ben and Nicole Goe, Modgagor
G & G Carpets and Flooring. LLC or Wade,,~. Gran[, Jr., Modgagee
under and by virtue of the homestead exemption laws of the State of Wyoming.
IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and sealed
these presents the day and year first above written.
STATE OF WYOMING )
) SS.
COUNTY OF TETON )
Ben Goe
Ben Goe acknowledged the foregoing ]nstm]nent before me this_q day of March 2004.
WITNESS my hand and official seal,
Notary Public
My Commission Expires:
STATE OF WYOMING )
) SS;,
COUNTY OF /~f, ~Ov', )
Nicole Goe acknowledged the foregoing instrument b~fore me this~ day of March 2004.
WITNESS my hand and official seal,
County of ~ _qtate.ot I
Teton - ~1!111~ wyom~r~ ~
?
?
Notary Public
My Commission Expires: ~.'
Second Mortgage:
$20.000.00
Page 6 of 6
Ben and NJcole Goe. Mo,Agagor
G & G Carpets and Flooring, LLC or Wade,J~.~ Grant, Jr.. Mortgagee