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HomeMy WebLinkAbout900845CHRIS CATTELAN 1806 ANTELOPE STREET #C~ 0 0 8 [i' 5 KEMMERER, WYOMING 83101 MORTGAGOR 'T' includes each mortgagor above. UTAH POLW, j~ ~k.-I~GHT EMPLOYI~ES'S CREDIT Lt~'oN~. '::c,t_ NTY CLERK 1407 W NORTH TEMPLE gl20C SALT ~AKE ~ITry;q ~84116 MORTGAGEE "You" ~neaus the mortgagee, its successors and assigns. REAL ESTATE MORTGAGE: For value received, I, CHRIS CATTELAN , mortgage, grant and convey to you, with power of sale on July 2, 2004 the real estate described below and all rights, easements, appurtenances, rents, leases and improvements and fixtures that may now or at any time in the future be part of the property (all called the "property"). PROPERTY ADDRESS: 1806 ANTELOPE STREET #C KEMMERER, WYOMING 83101 LEGAL DESCRIPTION: SEE EXHIBIT "A' located in LINCOLN County, State of WYOMING. TITLE: I covenant and warrant title to the property, except for encumbrmlces of record, municipal 'and zoning ordinances, current taxes and assessments not yet due and SECURED DEBT: This mortgage secures repayment of the secured debt and tile performance of the covenants and agreements contained in this mortgage and in any other document incorpcrated herein. Secured debt, as used in this mortgage, includes any amounts I may at any time owe you under this mortgage, the instrument or agreement described below, any renewal, refinancing, extension or modification of such instrnment or agreement, and, if applicable, the future advaEces described below. The secured debt is evidenced by (describe the instrument or agreement secured by this mortgage and the date thereof:) Tile above obligation is due and payable on J~fiy :15, 2019, if not paid earlier. The total unpaid balance secured by this mortgage at any one time shall not exceed a maximum principal amount of TItlRTY-FOUR THOUSAND and no/100 Dollars ($34,000.00), ;plus interest, and all other amounts, plus interest, advanced under the terms of this mortgage to protect the security of this me,gage or to perl0rm any of the covenants and agreements contained in this mortgage. ~ Future Advances: The above mount is secured even though all or p~ of it may not yet be advanced. Future advances are contemplated and will be made in accord~ce with the te~s of the note or 10an agreement evidencing the secared debt and will have priority to the same extent as if made on the date this me,gage is executed. ~ Vari~ Rate: The interest rate on the obligation secured by thi} mortgage may vary according to the terms of that obligation. A copy of the loan agreement containing the te~ns under which the interest rate may v~ is a~ached to this mortgage and made a pail hereof. ruDElY: : ~ Commercial ' ~ Construction ~ SIGNATU~S: By signing below, I agree to the terms and coven~ts contained on pages 1 and 2 of this me,gage. In any instrumenls evidencing the secured debt and in any riders described above and signed by me. i acknowledge receipt of a copy of this mortgage ACKNOWLEDGEMENTS: STATE OF wYOMING, County of LINCOLN ss: Individual or Corporation with Seal Corporation with no Seal Witness my hand and official seal. The foregoing instrument was acknowledged bdbre me by Ch r i .q Ca t t- ~ l a n this 61-h 4ayof 3uly: 2004 Tile foregoin!g instrument was ac~mwledged before me by this day of ........... 22_%7 ~_~ a corporation has no corporate seal NEWMAN - NOTAH¥ I-' "· ~ ~ L:;4' ' STATE OF [ . ~ a ~ 1, .......... ;; ~dC'~ Public My Commission Expires: March 25:,2006 This document is being recorded by Rocky Mountain Title Insurance Agency of Lincoln County as a Courtesy Only I. Payments. I agree to make all payments on [he secured debt ~vhen due. Unless we agree otherwise, any payments you receive from me or for my benefit will he applied first to any anlounts I owe you on the secured debt exclusive of interest or principal, second, to interest and then to priucipal. If partial prepayment of the secured debt occurs for any reason, it will not recluce t.)r excuse any subsequently scheduled payment until lhe secured debt is paid iu full. L Claims against Title. I will pay alt taxes, assessmenls, liens, encumbrances, lease payments, ground rents, and other charges relating to lbe property when ;lue. You may require me to provide to you copies of all notices that such amounts are due and tile receipts evidenci,lg in3' payments. I will defend title to the 3roperty against any claims that would impair the licn of.lhis mortgage. You may require me to assign any rights, claims or defenses which I may have against )attics who supply labor or materials to improve or nlaintain the property. ~. Insurance. I will keep the property insured tinder t&nns acceptable to you at my expense and for your benefit. This insurance will include a standard nortgage clause in your favor. You will be naaned as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be applied, within ,'our discretion, to either the restoration or repair of the damaged property or to the secured debt il' you require mortgage insur,'nlce, l agree to maintain such nsurance for as long as you require. I. Property. I will keep the property in good condition and make all repairs reasonably necessary. I will give you prompt notice of any loss or damage to thc Jropeny. ;. Expenses. I agree to pay all of the expenses you incur, iticluding reasonable atlomeys' fees, it'l breach any covenants in this mortgage or itl any obligation ecured by this mortgage, I will pay these mnounts to you as provided in Covenant 10 of this mortgage. ;. Default and Acceleration. If I fail to make any payment when due or breach any covenants uoder this mortgage, any prior mortgage or soy obligation ecured by this mortgage, you may, at your option, z:ccele, rate tile maturity of the secured debt and demand immediale payment, and exe,-c~se any other remedy vailable to you. You may enforce this mortgage [:y exercising any remedy provided by law, including, but not limited to, the power of sale. You will be ntitled to a judgment for any deficiency as provided by law. fyou elect to exercise you power of sale, you will g ye notice of your intent to foreolose by advertisement and sale as provided by law. You will publish notice f the sale and sell the property according to applicaLle law. The proceeds of the sale will be applied first to the costs and expenses of the sal ~ including, but not mired to, reasonable attorneys' fees, then to paymen; of the secured debt, and finally, if there is an)' surplus, lo lhe person(s) legally emitled to it. Assignment of Rents and Profits and Lender in Possession. I assign to you the rents ;Jnd profits of lhe property. Unless we have agreed otherwise triting, 1 may collect mid retain the rents as long as l mn not iu defanlt. If you accelerate this mortgage as provided iii paragraph 6 or ill ablmdon the property, ou are entitled to enter upon, t~e possession and manage the property, and collect the rents and profits of the property, either in person, by agent or by court ppointed receiver, until the expiration of any period of redemption fbllowing judicial sale. Except when otherwise directed by tile cortrt, any rents and profits ou collect will be applied first to the costs of man;':ging the property mid collecting the reefs and profits, including, but not limited to, receivers fees, court ~sts, and reasonable attorneys' lees, and then to pays:lents of tire secured debt as provided Prior Security Interest. I will make payments wi, eh d~e and perform all other covenants under any mortgage, deed of trust, or other security agreement that as priority over this mortgage. I will not make or permit any modification or extension of any tnortgage, deed of trust or other security interest that has priority vet this mortgage or any note or agreement secured thereby without your written consenl I will promptly deliver to you any notices I receive from vaiy person 'hose rights in the property bare priority over yonr r;ghts. Leaseholds; Condominiums; Planned Unit Developments. I agree to comply with the provisioos of any lease if this ~nortgage is on a leasehold. If this ~ortgage is on a unit iii a condominimn or a planned unil development, I will pertbrnl all ot' my duties under tile covenants by-laws, or regulations of the )ndominium or planned unit development. , ). Authority of Mortgagee to Perform for Mortgi~gor. Ill fail to perform any of my duties under this mortgage, or any other mortgage, deed of trust, lien or :her security interest that has priority over this mortgage, you may perform the duties or cause them to be pertbrmed You may sign my nmne or pay any nount if necessary for performance. If any construction on file property is discontinued or not carried on in a reasonable manner, you may do whatever is :cessary to protect your security interest in the property. This may include completiug the construction. our failure to perform will not preclude you from exercising any of your other rights under the law of this mortgage. ny amounts paid by your to protect your security interes' will be secured by this mortgage. Such amounls will be due on demand and will bear interest from e date of the payment until paid in full at the interest rate in effect from time to time on tile secured debt. Inspection. You may enter the property to inspect, it if.~ou give me notice beforehand. The notice must state the reasonable cause for your inspection. ,. Condemnatie a. I assign to you the proceeds of any award or claim for dmnages connected with the condemnation or other taking of all or any pas-t of the operry. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the terms of any prior security agreement. Waiver. By exercismg any remedy available to you, you do not give up your rights to later use an), other remedy· By qot exercising any remedy, if I fault, you do not waive your right to later consider the event a de~hnlt if it happens agait~. Joint and Several Liability; Co-Signers; Successors and Assigns Bound. All duties under this mortgage are joint mid several. Ill sign this mortgage but not sig,l the secured debt I do so only to mortgage my interest in tile property to secure payme,lt et' tire secured debt and by doing so, l do not agree to be rsonally liable on the secured debt. I also agree that you mid any party to this mortgage may extesrd, modify or m'&e any other changes in the terms of this )rtgage or the secured debt without my consent. Such a change will not release me i¥om tile terms of this mortgage. e duties and benefits of this mortgage shall bind an benefit the successors and assigns of either or both et~ tis. · Notice. Unless otherwise required by law, any notice tc me shall be given by delivering it or by ,nailing it by certified mail addressed to me at the Property Idress or any other address that I tell you. I will give an). notice to you by certified mail to your address on page I of this inortgagc, or to any other address dch you have designated. y notice shall be deemed to have been given to either of us when given in the manner stated above. Transfer of the Property or a Beneficial Interes in the Mo rtgagor. If all or any pan of lhe property or any imerest in it is sold or trans£e,-red without you ar written consent, you may demand immediate payment of the secured debt. You may also demand immediate paymem if tile mortgagor is not a natural · son and a beneficial interest in the mortgagor is sold or transferred. However, you may no~ tlemand pa)'ment in the above situations if it is prohibited by eral law as of the date of this mortgage. Release. Pursuant to law, when I have paid tile secured debt ill full, all underlying agreements have been terminated, and [ bare mailed to you a written nest for the release, you will release this mortgage without charge to me within 30 days of your receipt of my request for tle release l agree to pay all cosls 'ecord the release. Severability. Any provision or clause of this mortgage or any agreement evidencing the secured debt which conflicts with applicable law will not be :ctive unless that law expressly or impliedly perntits vm4ations by agreement. If an5, provision or clause of this mortgage or an agreement evidencing the tired debt cannot be enforced according to its retina, thisAhct will not afl,ct the e,lforceability of the balance of the mortgage and the agreement evidencing secured debt. Waiver of tlomestead Exemption. I hereby release and waive all rights tinder and by virtue of the homestead exemption laws of WYOMING. ns· Inc. JUL-O?-04 lIED 02:19 PM JLl~q-29-20~4 S, 5'~ ~4 FR'/ tlO, 861 220 3161 P, SCHEDULE C The land referr,d to ix. this lIu'arantae is ~itua~ed la the Stale of Wyoming CC] I [ [ a ~ ,~ and is deserlb~ m follows: ~art of Lot 2 of g/eot 12 of the Lincoln gubdivim~on ~o the Town of l<~mme.r~r, Lin~:oln C~tnR.,.:,, and bein~ more particularly, described as Cornmenaxng a~ th~ Mox'~heam¢ cor'~<~r of said Lc~ 2 .n.t a 1.)i.t~ thence N 84011,21. W. 50.70 feeg to Che poil)~ beginning; thence s 0~5~, w, 112.68 feet; thence N 86"11'09,, ~, 16.37 thence N 0056' E, ~3.26 thence N 86"11'2~,, W. !.67 feet; th~ncm N 0~56, E, 30.00 feetj bm~innin~. , c"