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HomeMy WebLinkAbout899379 RECEIVED i:.L¢,_0! f,l c0u,'.FrY CLERK MORTGAGE DEEI lWlTH ,RELEASE OF HOMESTEAD-/ ?1t u.: 30 KNOW ALL MEN BY THESE PRESENTS, thai STEVEN.:E:.WHITESIBE and SHAUNA J. WHITESIDE husband and wi¢e, (hereinafter designated as "Mortgagors"), of Houston Texas, to secure the payment of the principal sum of One Hundred and Thirty Thousand Dollars $(130,000.00), with interest commencing May15, 2004, at Five Percent (5%) per annum, as evidenced by a promissory note of even date herewith to the order of NORTHSTAR L~D COMPANY, LLC, of Spring, Texas, (hereinafter designated as "Mortgagee,") principa and interest payable as follows: 60 monthly payments in the sum of $1,378.85 beginning June 15, 2004, and on the 15th day of each month thereafter, with a final payment in the sum of $73,066.46 being due and payable June 15, 2009. To be paid according to the terms of the Amortization Schedule attached to the Promissory Note marked as Exhibit "A". hereby mortgages to said Mortgagee, the following described real estate, situated ~n the County of Lincoln, State of Wyoming, to-wit: Parcel 1 The West 33 rods of the NE¼NW¼ of Section 34, T33N R119W of the 6th P.M., Lincoln County, Wyoming. Parcel 2 Beginning at a point on the North boundary line of Section 34, T33N R119W of the 6th P.M., Lincoln County, Wyoming, that is 33 rods East of the West boundary line of the NENNW% of said Section 34, and running thence East, along said North boundary line 33 rods, more or less, to a point which is 66 rods East of the West boundary line of said NE¼NW¼; thence South, on a line parallel to said West boundary line, 80 rods, more or less, to the South boundary line of said NE¼1~IW¼; thence West, along said South boundary line, 33 rods, more or less, to a point 33 rods East of the West boundary line of said NE¼NW¼; thence Nodh along a line parallel to said west boundary line, 80 rods, more or less, t0 the point of beginning. TOGETHER WiTH all improvements, appurtenances, hereditaments and all other things thereunto belonging or in anywise appedaining. SUBJECT, HOWEVER, to all easements, rights-of-way, reservations and restrictions now of record or otherwise affecting said lands. 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 said premises. The Mortgagor hereby covenants and agrees that they are lawfully seized of said premises, that they are free from all encumbrances, and hereby covenants to warrant and defend the title of said premises against the lawful claims of all persons 'whomsoever. And the Mortgagor covenants and agrees with the Mortgagee as follows: 1. That they will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due on the note, on any interest paying date prior to maturity. 2. That the Mortgagor will pay all ground rents, taxes, assessments, water rents and other governmental or municipal charges, or other lawful charges, and will promptly deliver the official receipts therefor to the said Mortgagee. In default thereof the Mortgagee may pay the same, and all sums so paid shall be added to and considered a pa~;t of the above indebtedness hereby secured, and shall draw interest at the same rate. 3. That nothing shall be done on or in connection with said property which may impair the Modgagee's security hereunder; the Mortgagor will commit, permit or suffer no waste, impairment or deterioration of said property nor any part thereof, and said property shall be continuously maintained in good and sightly order, repair and condition by 'the Mortgagor at their expense. 4. That they will keep the improvements now existing or hereinafter erected on the said premises, insured as may be required from time to time by the Mortgagee against loss by fire and other hazards, casualties, and contingencies in such amounts and for such periods as may be required by the Mortgagee and will pay promptly, when aue, any premiums on such insurance. All insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of an'd in form acceptable to the Modgagee. In event of loss it will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by the Mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor and the Mortgagee, jointly, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damages. Ir~ event of foreclosure of this mortgagee or other transfer of title to the said premises in extinguishment of the indebtedness secured hereby, all right, title, and interest of the Mor.tgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 5: That in .case the 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, the Mortgagee may without notice or demand pay the same and in case of failure on the pad of the Mortgagor to comply with the covenants of paragraph 3 hereof, the Mortgagee may effect such repairs as it may reasonably deem necessary to protect the property, at the expense of the Mortgagor. The Mortgagor covenants and agrees to repay such sums so paid and all expenses so incurred by the Mortgagee, with interest thereon from the date of payment, at the same rate as providel:l in the note herein described, and the same shall be a lien on the said premises and be secured by the said note and by these presents and in default of making such repayments, the whole amount hereby secured, if not then due, shall, if the said Mortgagee so elects, become due and payable forthwith, anything herein contained to the contrary notwithstanding. 6. That in the event the property covered hereby is sold under foreclosure and the proceeds are insuffi{~ient to pay the total indebtedness secured hereby, the Mortgagor binds themselves to pay the unpaid balance, and the Modgagee will be 'entitled to a deficiency judgment. 7. Upon occurrence, with respect to any Mortgagor, Assignee, maker, endorser or guarantor hereof, of any of the following: Calling of a meeting of creditors; application for, or appointment of, a receiver of any of them or their property; filing of a voluntary or involuntary petition under any of the provisions of the Bankruptcy Act or amendments thereto; issuance of a warrant or attachment; entry of a judgment; failure to pay, collect or remit any tax or tax deficiency, Federal, State or local, when assessed or due; death dissolution; making, or sending .notice of a.n intended bulk sale; mortgage or pledge of any property; suspension or liquidation of their usual business; failure; after demand, to furnish financial information or to permit inspection of any books or records; default in payment or performance of this mortgage or any other obligation to, or acquired in any manner by payee, or if the condition or affairs of any of them shall change as in the opinion of the Mortgagee or other legal holder thereof, shall increase its credit risk--this mortgage and all other obligations, direct or contingent, of any maker or endorser hereof to payee shall become due and payable immediately without notice or demand. That in case default shall be made in the payment, when due, of the indebtedness hereby secured, or Of any installment thereof, or any part thereof, or ~n 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, assessment, water charges, expenditures for repairs or maintenance, together with all other sums payable pursuant to the provisions hereof, shall become immed ately due and payable, at the option of the Mortgagee, although the period above limited for the payment thereof may not have expired, anything hereinbefore or in said Note contained to the contrary notwithstanding, and any failure to exercise sa~,d option shall not constitute a waiver of the right to exercise the same at any other time, and it shall be lawful for the Mortgagee to proceed to enforce the provisions of this mortgage either by suit at law or ~n equity, as it may elect, or to foreclose this mortgage by advertisement and sale of the above- described premises, at public venue, 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 and in payment of all moneys expended or advanced by the Mortgagee pursuant to the provisions of paragraph 5 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 anT, shall be paid by the Mortgagee on demand, to the Mortgagor. There shall be included in any or all such proceedings, a reasonable attorney's fee. In case the mortgagee shall fail promptly to foreclose upon the happening of any default, it shall not thereby be prejudiced in its right of foreclosure at any time thereafter during which such default shall continue and shall not be prejudiced in its foreclosure rights n case of further default or defaults. 8. That in case of any default whereby the right of foreclosure occurs hereunder the Mortgagee shall at once become entitled to exclusive possession, use, and enjoyment 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, if any there by, and such possession, rents, issues and profits shall at once be delivered to the Mortgagee on request, and on refusa, the delivery of such possession, rents, issues, and profits may be enforced by the Mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forcible entry or unlawful detainer, and the Mortgagee shall be entitled to a Receiver for said property and al rents, issues, and profits thereof, after any such default, including the time covered by foreclosure proceedings and the period of redemption, if any there be and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of the Mortgagor, or the then owner of said property, and without regard to the value of said property, or the sufficiency thereof to discharge the mortgage debt and foreclosure costs, fees, and expense, and such Receiver may be appointeU by any court of competent jurisdiction upon ex parle application and without notice (notice being hereby expressly wsived and the appointment of any such Receiver on any such application without notice being hereby consented to by the Mortgagor on the Mortgagor's own behalf), and all rents, issues, and profits, income and revenue of said property shall be applied by such Receiver, according to law and the orders and directions of the court. 9. No failure by the Mortgagee or any legal holder hereof to enforce any right set forth herein nor the granting of any extension of time nor taking of additional security, nor partial release of security or the making of future advances, shall act to constitute a waiver of the rig ht to enforce any and all remedies provided herein nor shall it act to discharge or release the collateral. 10. That the covenants herein contained shall bind, and the benefits and advantages shall iaure 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 includea genders. singular, and the use of any gender shall 633 IN WITNESS WHEREOF, the Mortgagor has caused these presents to be signed this '7'.k--h day of May, 2004. S'-TEVEN K. WHITESlDE ' SHAUNA J. W~rESIDE - STATE OF ._/~/C~--t~-~ {s s' COUNTY OF The foregoing instrument wa s acknowledged before me by STEVEN K. WH ITESIDE and SHAUNA J. WHITESlDE, this ~- day of May, 2004. WITNESS my hand and official seal. Notary Public ~ Siri Knudsen Avd. leder APOSTILLE (Convention de La Have du 5 octobre 1961) 1. Country NORWAY This public document: A. 2. Has been signed by ..~.M~.. .... ~...~-~ .... 3. acting in the capacity of ~.~..~..~..~" 4. bears the seal/stamp of ...~J/2.'~.~ .......... Certified 5. atStavanger 6. the ..~'.l.~...?...O....~.. 7, by the. Governor of the county of Rogaland ...............