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Home My WebLink About902868 RECEIVED LI~'..I~.,3L.N COUNTY CLERK 902868- '-"': ..... 16 PH t:26 INSTALLMENT SALE AGREEMENT THIS AGREEMENT made and entered this 1st day of September, 2004, bf and between PATRICIA E. LOONEY, Box 322, Pinedale, Wy., 82941, Party of the First Part and hereinafter called the "Seller", and CHARLES N. RAINES, a single man, of Box 333, LaBarge, Wy., 83123, Party of the Second Part and hereinafter called 'the "Purchaser" W I T N E S S E T H: Seller agrees to sell unto Purchaser and Purchaser agrees bo buy from.seller the f°llowin9 described real estate in the County of LincOln and ~State 'of Wyoming, to-wit: Lot 12 of the Viola Subdivision, Phase I,. as the said subdivision appears on the plat and map thereof on fileland of record in the office of the County Clerk of Lincoln County, Wyoming, and TOGETHER WITH all buildings, fences and improvements situate thereon or appurtenant thereto, AND TOGETHER WITH all water and water rights, ditch and ditch rights, and reservoir and reservoir rights situate thereon or appurtenant thereto; BUT SUBJECT, NEVERTHELESS, TO the provisiOns of United States patents, AND SUBJECT FURTHER TO easements and rights of way of record.or in actual use for telephone transmission lines, electric transmission lines, irrigation ditches and canals, and roads and ways, and SUBJECT'FURTHER TO all outstanding mineral interests AND SUBJECT FURTHER TO accrued and accruing taxes, and for said real estate Purchaser Shall pay, and Seller shall accept,Fifteen Thousand Dollars ($15,000.00) to~ether with interest accruin~ thereon at the rate of Eight Per Cent (8~) Per Annum from and~after the 25th day of September, 2004, shall be paid by 120 monthly installments, each in the amount of $182.00, commencing on the 25th day of October, 2004, and continuing on the 25th day of each month thereafter succeeding until said purchase price and all interest has been fully paid; All of the aforesaid installments shall 'be made to Seller at Box 322, Pinedale, Wy. 82941, or such other place as Seller may hereafter designate; Seller shall not be obli~:ated to accept any of the foregoin~ installments of the principal sum and interest except at the times and in the amounts hereinabove set forth, except however, Seller agrees that after the first day of January, 2004, Purchaser may at the option of Purchaser pay, without penalty, the then unpaid' balance of the purchase price to~'ether with the interest accrued to date of payment. THE PARTIES FURTHER AGREE AS FOLLOWS: 1- Possession, assignment, liens, taxes and buildin~'s. (a) Purchaser may have possession of the above property upon execution of this a~'reement, Purchaser has inspected the property and accepts the property in its present condition; (b) Purchaser shall not surrender possession of the above property nor part with possession to any persons whomsoever, nor shall Purchaser assign or sell this agreement to any person whom- soever without first having obtained the written consent thereto of the Seller: (c) Purchaser shall pay before delinquency all taxes and assessments on the property coming due on or after, the first day of January, 2005; (d) Purchaser shall not suffer nor permit any liens, other than liens of taxes, encumbrances and mortgages to accrue or attach to the above property during the term hereof and in event the same shall accrue or attach Purchaser shall immediately pay and dissolve the same and upon failure to do so Seller may pay the same and all sums so expended by Seller in the satisfaction, dissolution and discharge thereof shall accrue interest at the ra~e of EIGHTEEN PER CENT (18%) PER ANNUM from the time of payment and the same shall be immediately due and payable by Purchaser unto Seller; (e) If Purchaser fails or neglects to pay any installment. of taxes or assessments, when due, Seller shall have the right to make such payment and to add the amount thereof, to~ether with interest at EIGHTEEN PER CENT (18%) PER ANNUM to the obligation of Purchaser hereunder; 2- Delivery of warranty deed. Upon payment of the purchase price and all interest, and provided that Purchaser has otherwise performed as required of Purchaser herein, Seller shall convey the above property unto Charles N. Raines, a single man, by means of statutory form of warranty deed; 3- Taxes and assessments. All taxes assessed and levied upon the property in the year 2004 and prior thereto shall be paid by Seller, and Purchaser shall pay all of the 2005 taxes; 4- Timely performance - default. Time is of the essence of this a~reement and Purchaser shall Pa=e Two make all payments promptly as herein provided; Purchaser expressly understands and a~rees that if Purchaser shall fail to make any of the aforesaid payments to Seller, in the amount, manner and within the time herein provided, 'or should Purchaser fail to perform any of the other terms and conditions hereof, in the manner and within the time herein provided, and shall fail to make said delinquent payments and otherwise remedy the default of other terms, and conditions within thirty (30) days after written notice thereof is deposited in the United States mail, postage prepaid, and addressed to Purchaser at the followin~ address of the Purchaser, Charles N. Raines Post Office Box 333 LaBar~e, Wy. 83123 the Seller may at the option of Seller declare this contract ended, cancelled and of no further force and effect, and Seller may file for record in the office of the County Clerk a declaration of forfeiture (settin~ forth the facts of such failure on the part of Purchaser) and the same shall be sufficient to canceli all obligation hereunder on the pajt of Seller and shall fully reinvest Seller with all rights, title and interest hereby a~reed to be sold, conveyed or delivered and Purchaser shall forfeit all right, title and interest in and to the above property includin~ any and all improvements and Seller shall have the ri~ht'to re-enter and take possession, without demand, of the above-described real property and all improvements thereon, includin~ those erected or placed thereon by Purchaser and in event of such repossession Seller may keep said real property as Seller's own and absolute property beinq hereby released from all obligation at law and in e%uity to convey said property, and in such case all monies forfeited as described above shall be considered as rental for said property and as liquidated damages for failure on the part of Purchaser to perform and comply with the terms of this a~reement; 5- Construction. Ail words used in this a~reement includin~ the words "Purchaser" and "Seller" shall be construed to include the plural as well as the singular number and words used herein in the present tense shall include the-future as well as the present and words used in the masculine ~ender shall incude the feminine and neuter; 6- Effect of waiver. The waiver of Seller of any covenant, condition or a~reement herein contained shall not vitiate the same and the terms, conditions, covenants and a~reements set forth herein shall apply, inure to and bind the heirs, executors, administrators and assi=ns of the respective parties hereto; 7- Persons bound. Ail provisions hereof shall extend t~. inure to the benefit of and be bindin~ upon the respective parti~.s and their heirs, devisees, personal representatives and assigns; 8- Litigation - allowance of attorney's fees to prevailin~ party. If any action is brought to enforce this a~reement or any provision hereof, to rescind the same, to collect damages for an alleged breach hereof, or for declaratory judgment hereunder, the prevailin~ party in such action, whether plaintiff or defendant, shall be entitled to an allowance for reasonable attorney fees, in addition to costs of suit; 9- Interest on past-due installments. Any installment of the principal sum or accrued interest, or both, not paid when due shall accrue interest a.t the rate of EIGHTEEN PER CENT (18%) PER ANNUM from the due date until paid; P~e Three !~ W~TN~SS WHEREOF, we hereunto set our hands the day and year firs5 above written. PATRICIA E. LOONEY, Seller CHARLES N. RAINES, Purchaser STATE 0F WYOMING ) ) ss County of Sublette ) .,~..-~: :.~ ~ ~ -~t . ..~ /'.' ~%:'~i~?~3,,~'~oln~ ,this \ h'w day of September, ~~~oney,ins~rument~as acknowledged bef ~B&~s:.m~ nan~ and My commission expires: 47/D{9. ore me by 2004. official seal. NotL~ Pub'li STATE OF WYOMING ) ) COUNTY OF LINCOLN ) ss DENNIS E. HAOKLIN Notary Public - State of Wyoming .... Lincoln County, Wyoming The foregoin~ instrument was acknowledged before me by Charles N. Raines, this /~ ~z~_. day of September, 2004. Witness my hand and official seal. Notary Public My Commission expires: Pa~e Four