HomeMy WebLinkAbout900400BOOK
&IOR TGA GE
I~x~OtF/tLLiVlEN B:FTH~£]2 PRE£ENT£, that DAV!~,~:~',pAR. TERt.~'nd VIRGINIA
CARTER, husband and wife, of 523 Eastridge Drive, Kimberly, County of Twin Falls,
State of Idaho, (hereafte.:' "Mortgagor") to secure the payment of the principal sum of
sixteen thousand, six hun¢ red dollars ($16,600.00) as evidenced by a Promissory Note
dated of even date herewith, to the order of ALLEN CARTER of 88724 US Hwy 89,
Afton, County of Lincoln, State of Wyoming, (hereafter "Mortgagee") to be paid as
follows:
1 On the 15'" day of June, 2005, after the execution of this Mortgage and
Promissory Note of even date, the Mortgagor wil pay to the Mortgagee the amount of
sixteen thousand six hundred dollars ($16,600.00) plus interest in the amount of five
percent (5%) per annum, in full.
2. The Mortgagor may prepay the principal amount in whole or in pad at 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 annual
installments or change the amounts of such installments, unless the Mortgagee shall
agree in writing.
3. If any payment is made more than 15 days after the date due the Mortgagor
shall pay an additional two thousand dollars ($2,000.00) in the form of a late payment
charge.
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dfion, Wyoming 83110
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MORTGAGOR hgreby mortgages to Mortgagee, the following described real
estate, situated in the County of Lincoln, State of Wyoming:
Lot 2 of th,; Carter Family Exempt Subdiv sion, portions
being in th'e .SE¼ of Section 14, T31N, R119W of the
6t" PM, Lire'cOin County, Wyoming, said plat being
filed in the Cffice of the Clerk of Lincoln County,
Wyoming.
Together with all water rights, mineral rights, improvements and appurtenances
thereon situate o~' In anywise appertaining thereunto. Subject, however,
to all reservations, restrictions, exceptions, easements and rights-of-way
of record or in usa.
Mortgagor hereb,t 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 ':r6,.e from all encumbrances and hereby covenants to warrant
and defend the title of tl-:,e premises against the lawful claims of all persons
whomsoever.
MORTGAGOR covenants with Mortgagee as follows'
1. In case of default in any of the payments stipulated in the note, Mortgagor, as
further security for this mortgage and the note secured thereby, hereby assigns, sets
over, and conveys to MOrtgagee 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.
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P.O. Ba~ 1550
Afion, Wyomhtg 83110
307-885-0640
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3. To perfo,rm con,ply with and abide by each and every one of the agreements,
stipulations, conditions, and covenants, set forth in said Note and this Mortgage or
either.
4. Failure by the 'Mortgagee 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 ther'gafter accruing.
5. Nothing shall b e done on or in connection with the property that may 'mpair
Mortgagee's security hereunder; Mortgagor will commit, permit of suffer no waste,
impairment or deterioration of the property nor any part thereof, and the property shall
be continuously maintai¢ ed in good and sightly order repair, and condition by Mortgagor
at his expense.
6. Mortgagor and ;vlortgagee agree that there are no insurable improvements on
the property. Therefore, Mortgagor is not required to carry insurance on the premises.
7. In case Mortg~ gor defaults in the payment of ground rents, if any, taxes,
assessments, water or o-~her governmenta or municipal charges or other lawful
charges as herein provided, Mortgagee may without notice or demand pay the same
and in case of any failure on the part of Mortgagor to comply with the covenants of
Paragraph 5 hereof, Moltgagee may effect such repairs as it may reasonable deem
necessary to protect the .property, .at the expense of Mortgagor. Mortgagor shall repay
such sums so paid and all expenses so incurred by Mortgagee, with interest thereon
from the date of payment at five percent (5%) 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
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P.O. Box 1550 ".
Afion, Wyoming 831 IO ' ,'
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making such repayment,~ the whole amount hereby secured if not then due shall, if
Mortgagee so elects, be:omc 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, Mortgagor binds itself
personally to pay the uno:aid balance, and Mortgagee will be entitled to a deficiency
judgment.
9. In case defaul: s made in the payment, when due, of the indebtedness
hereby secured, or of ary 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 optien of Mortgagee, although the period above limited for the
payment thereof may ncte have expired, anything herein before or in the note
contained to the contrap/.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 Mortgagee 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 pJblic auction 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
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conveyance of the prope',ly so sold, and to apply the net proceeds arising from such
sale first tothe payment 5fthe costs and expenses of such foreclosure and safe
including reasonable .attdrney fee, and in payment of all money expended or advanced
by Mortgagee pursuant t,:) 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 the',~eon and the surplus if any, shall be paid by Mortgagee on
demand to Mortgagor. Iri case Mortgagee fails promptly to foreclose on the happening
of any default, it shall no~. thereby be prejudiced in its right to foreclosure at any time
thereafter during which s~ch default continues, and shall not be prejudiced in its
foreclosure rights in case of further default.
10. In case of an?i default whereby the right of foreclosure occurs hereunder,
Mortgagee shall at once become entitled to exclusive possession, use, and enjoyment
of all property, ad 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 Mortgagee on request".i and on refusal, the delivery of such possession, rents, issues,
and profits may be enfor,:ed by Mortgagee by any appropriate civil suit or proceeding,
including action or actions in ejectment, or forceable entry, or unlawful detainer; and
Mortgagee 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 witho3t regard to the solvency or insolvency of Mortgagor or the
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P.O. Box 1550
Aflon, Wyonling 83110
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then owner of the properly, 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 rece'iver 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 :Vlortgagor on Mortgagor's own behalf), and all rents, issues,
profits, income, and revenue of the property shall be applied by such receiver,
according to law and th6 orders and directions of the court.
11. Mortgagor may not convey or transfer any interest in or encumber the
described premises without the prior written consent of the Mortgagee. Mortgagor must
give Mortgagee written rotice of Mortgagor'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
there'n is sold, transferred or encumbered by Modgagor without Mortgagee's prior
written consent, excludir~g death of a joint tenant or the grant of any leasehold interest
of three (3) years or less not containing an option to purchase, Mortgagee may, at its
option, declare the entire remaining balance due under this agreement to be
immediately dUe and payable and give written notice to Mortgagor thereof. After receipt
of such written notice, Mortgagor shall have thirty (30) days in which to pay the entire
remaining balance to 'Mortgagee.
12. The covenan!s herein contained shall bind, and the benefits and advantages
shall inure to, the respective heirs, executors, administrators, successors, and assigns
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P.O. Box 1550
Afion. l~/),oming 83110
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o oo4Oo
of the parties hereto. Whenever used, the singular number shall include the plural, the
plural the singular, and ti- e use of any gender shall include all genders.
13. Whenever us6d herein, the terms "Mortgagor" and "Mortgagee" include all
the parties to this instrument and the heirs, legal representatives, and assigns of
individuals, and the succ£ssors and assigns of corporations; and the term "Note"
includes all the notes herein described if more than one.
IN lgdrTN~££ IVHI-~REOF, Mor~a~or has caused/his mortgage to be e.~ecuted by its au/ho/iEed
D.4 l/ID L. C4RTER
ST~TF~ OF I[/YOMING
CO UNTY OF LINCOI~I
The fore, coing ¢,:ts ac/eno¢vkd, ced before "9 b) D.4'I'~/D L. C.4RTER, this
June, 2004.
[F/ITNE3'3' ny hand a,:d offda/ sea/
NO'L4R Y PUBLIC
MB/commission e~pires:
Bowers & Associates Law Offices, P.C.
P.O. Box 1550
Afion, Wyoming 83110
307-885-0640
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0 00400
DATED this
'] 7 J~day of June, 2004.
705
DAVID L. CARTER
VIRG,~IA CARTER
STATE OF I~YOMING
COUNTY OF LINCOLN
The foregoing mas ackn~iwhdged before me by DAVID L. C~IRTER and l/ViRGINIA CARTER,
/ '7 4'%lay of June, 2004. '
II7iTNEoC oc m_y hand sad o.~cial seal.
2V~y commission expires.'__
NO TARY P UBLJC
Counly ot F~,T~r~A . .State ,o! ~
Bowers & Associates' Law Offices, P.C. :
P.O. Box 1550 '
Afton, Wyoming 83110
307-885-0640
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