HomeMy WebLinkAbout9061381--27--05;12:42PM ;
DEED OF TRUST
RECEIVED 1/28/2005 at 2:02 PM
RECEIVING # 906138
BOOK: 578 PAGE: 9
JEANNE WAGNER
THIS DEED OF TRUST, Made this 24a day of January, 2005 LINCOLN COUNTY CLERK, KEMMERER, WY
BETWEEN: Blake Moroni Angell and Cindy Fay Angell, Husband and Wife, herein called GrantOr,
whose address is 1080 State Highway 241, Afton, Wyoming 83110, and ~[]~l~lrl~~~,,,'
Herein c~lled TRUSTEE, and BEEHIVE FEDERAL CREDIT UNION, herein called BENEFICIARY
whose address is P.O. Box 40 / 65 South Center, Rexburg, ID $3440-0040.
WITNESSETH: That Grantor does hereby irrevocably GRANT, BARGAIN, SELL AND CONVEY TO TRUSTEE IN TRUST, WITH
POWER OF SALE, that property in the County of Lincoln, State of Wyoming, described as
follows, and containing not more than forty acres:
Lot 3 of Emigrant Meadows Subdivision, Lincoln County, Wyoming as described on the official plat No. 225-B filed October 8, 2003 as
Instrument No. 894227 of the records of the Lincoln County Clerk.
FOGETHER WITH the rents, issues and Profits thereof, SUBJECT, HOWEVER, to the right, power and authority hereinafter given to and
:onferred upon Beneficiary to collect and apply such rents, issues and profits. '
For the Purpose of Securing payment of the indebtedness evidenced by a promissory note, of even date herewith, executed by Grantor in The
;urn of One Hundred Five Thousand Dollars and 00/100, ($105,000.00)
'inal payment due January 24, 2011 and to sbcure payment of all such further sums as may hereafter be loaned or advanced by the Beneficiary
~erein to the Grantor herein, or any or either of them, while record owner &PRESENT interest, for any purpose, and &any notes, drafts or
~ther instruments representing such further loans, advances or expenditures together with interest on all such sums at the rate therein provided.
~rovided, however, that the making of such further loans, advances or expenditures shall be optional with the Beneficiary, and provided,
brther that it is the express intention of the parties to this Deed of Trust that it shall stand as continuing security until paid for all such advances
ogether with interest thereon.
L To protect the security of this Deed of Trust, Grantor agrees:
I. To keep said property in good condition and repair; not to remove or demolish any 'building thereon; to complete or restore
,romptly and in good and workmanlike manner any building which may be consmaeted, damaged or destroyed thereon and to pay when due all
laims for labor performed and materials furnished therefore; to comply with all laws affecting said property or requiring ,any alteration or
nprovements to be made thereon; not to commit or permit waste thereof; not to commit, suffer'or permit any act upon said property in
iolation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character of use of said property may be
,~asonably necessary, the specific enumerations herein not excluding the general,
2. To provide, maintain and deliver ro Beneficiary fire insurance satisfactory to and with loss payable to beneficiary. The amount
ollected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such order as
e.neficiary may determine, or at option of Beneficiary the entire amount so collected or any part there0fmay be released to Grantor. Such
vplication or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice,
3. To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or
rustee; and to pay all costs and expenses, including cost of evidence oftltle and attorney's fees in a reasonable sum, in any such action or
· decoding in which Beneficiary or Trustee may appear.
4. To pay.' at least ten days before delinquency all taxes and assessments affecting said property, when due, all encumbrances, charges
~d liens, with interest, on said property or any part thereof, which appear to be prior to superior hereto; all costs, fees and expenses of th is
'ust. tn addition to the payments due in accordance with the terms of the note hereby secured the grantor shall at the option and on demand of
e Beneficiary, pay each month 1/12 of the estimated annual taxes, assessments, insurance premiums, maintenance and other charges upon
open'y, neverfl~eless in trust for Grantor's use and benefit and for the payment by Beneficiary of any such items when due. Grantor's failure
to pay shall constitute a default under this trust.
5. To pay immediately and without demand all sums expended by Beneficiary or Trustee pursuant to the provisions hereof} with
:ernst for date of expenditure at the rate of interest specified in the above descried promissory note.
6. Should Grantor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so
do and without notice to or demand upon Grantor and without releasing Grantor from any obligation hereof, may: make or do the same in
:h manner and to such extent as either may deem necessary to protect the security hereof., Beneficieay or Trustee being authorized to enter
on said property for such purposes; appear in and defend any action proceeding purporting to affect the security hereof or the rights or
wets of Beneficiary or Trustee, pay, purchase, contest or compromise any encumbrance, eh .a:rge or lien which in the .judgment of either
~ears to be prior or snperior hereto; and, in exercising any such powers, or in enforcing this Deed of Trust by iudicial foreclosure, pay
;essary expenses, employ counsel and pay his reasonable fees. · .
It is mutually agreed that:
1. Any award of damages in 'connection with any condemnation for public use of or injUry to SAID property or any part thereof is
eby assigned and shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and with the same
.~ct as above provided for disposition of proceeds of ftre or other insurance.
2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right either to require prompt
'meat when due of all other sums so secured or to declare for failure so to pay.
3. At any time or from time to time, without liability therefore and without not ce, u on writt ~ .
sentation of this Deed and SAID note for endorse eot -~,~ ,.,:,~ ........... · ,p . en request of Benefic/a ,'md
m_...~ ~a~u ~atlllJut d, ll~ctlnp tile nerson~, ,;~k:,:~. ~. ,. ry
o v -, .,,umty many person tot payment &the
~btedness secured hereby, Trustee may, reconvey all or any part of said property; consent to the making of any map or plat thereof; ioin in
~ting an3' easement thereon; or join in any extension agreement or any agreement subordinating the lien or charge her '
4. Upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender ofthls Deed and said
to Trustee for cancellation and retention and upon payment of its fees, Trustee shall reconvey, without warranty, the property then held
render. The recitals in any reconveyance executed under this deed of trust of any matters or facts shall be conclusive proof of the
hfulness thereof. The grantee in such reconveyance may be described as "the person or persons legally entitled thereto."
5. As additional security, Grantor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance
~ese Trusts, to collect the rents, issues and profits of said property, reserving unto Grantor the right, prior to any default by Grantor in
neat of any indebtedness secured hereby or in performance of any agreement heretmder, to collect and retain such rents, issues and profits
toy become due and payable, Upon any such default, Beneficiary may at any time without notice, whether in person, by agent, or by a
iver to,be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon
take possession of SAID property or any part and thereof, in his own name sue for or otherwise collect such rents, issues and profits.
~ding those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney's
upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking p~ssesslon &said
erty, the collection of such rents, is.quos and profits and the applicati~fas aforesaid, shall not c~e waive an or not/ce of
Jlz hcrcunder or in~:.~ny act done pursuant to such notice. ~i ii!!i:::,,~li~ 0r '
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0906'138 ........ c ,:.. 0010
6. Upon default by Grantor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, all sums
:cured hereby shall immediately become due and payable at the option of the Beneficiary. In th'e event of&fault, Beneficiary shall execute or
rose the Trustee to execute such notice to be recorded in the office of the recorder of each county wherein said real property or some part
ereof is situated.
Notice of sale having been given as then required by law, and not less than the time them required by law having elapsed, Trustee,
ithout demand on Grantor, shall sell said property at the time and place fixed by it in said notice of sale, either as a whole or in separate
~'cels and in such order as il may determine, at public auction to file highest bidder for cash in lawful money of the United Slates, payable at
'ne of sale. Trustee shall deliver to the purchase its deed conveying the property so sold, but without any covenant or warranty express or
~plied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Grantor,
rustee, or Beneficiary, may purchase at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title and reasonable counsel fees
· connection with sale, Trustee shall apply the proceeds of sale to payment of: al! sums expended under the terms hereof, not then repaid, with
:creed interest at the rate specified in the above described promissory note; all other sums then secured hereby; and the remainder; if any, lo
.e person or persons legally entitled thereto.
7. This Deed applies to, inures to the benefit of, and binds all parties hereto/their heirs, legatees, devisees, administrators, executors,
~ccessors and assigns. The term Beneficiary shall mean the holder and owner of the note secure hereby; or, if the note has been pledged, die
ledgee thereof. In this Deed, whenever the context so requires, the masculine gender includes the feminine and/or neuter, and the singular
amber includes the plural.
8. Trustee is not obligated to notify any party herelo of pending sale under any other D~ed of Trust or of any action or proceeding in
hich Grantor, Beneficiary or Trustee shall be a party unless brought by Trustee.
.i
9. In the event of dissolution or resignation of the Trustee, the Beneficiary may submtute a trustee or trustees to execute the trust
:reby created, and when any such substitution has been filed for record in lhe office of the Recorder of the cotmty in which the property herein
-*scribed is situated, it shall be conclusive evidence of the appointment of such trustee or trustees, and such new trustee or truslees shall
~cceed to all of the powers and duties of the trustee or trustees named herein.
Request is hereby made that a copy of any Notice of Default and a copy of any/~q'otice ~f Sale hereunder be mailed to the Grantor at h is
tdress hereinbefore set foffh.
,,,,,e .,,,,,,,, :'
STATE OF IDAHO, COUNTY OF'
On this 24'a day of,lanuary. 2005,
before me a Notary Public in and for said State, personally appoared
Blake Morons Angell and Cindy Fay Angell
Known to me to be the person(s) whose nm~e(s) is/are subscribed to
the within instrument, and acknowledged to me that
executed the same.
he/she/they ,~ff~,/~ ~
-- ' "-~. Notary Public
Commission Expire~ .~-.
REQUEST FOR FULL RECONVEYANCE
To be used only when note has been paid
Rexburg, Idaho, Date:
The undersigned is the legal owner and holder of all indebtedness secured by the within Deed of Trust, All sums secured thereby have
~ecn fully paid. You are hereby requested and directed to cancel all evidences of indebtedness secured by said Deed of Trusl and to reconvey,
vithout warranty, the e~tate now held by you under the same.
BEEHIVE FEDERAL CREDIT UNION
By:
TIlE PROMI$$ARY NOTE OR NOTF~, AND ANY OTItER EVIDENCES OF FUR'fH£R AND/OR ADDITIONAL
ADVANCES M1JST BE PRESENTED WITH Tills REQUEST.
TOTR[ P. RE