HomeMy WebLinkAbout907571;-00741
CORRECTIVE MOR TGA GE
This Corrective Mortgage is to correct that certain Mortgage which was recorded
in Book 581, Page 511 of the official records of the Lincoln County Clerk, County of
Lincoln, State of Wyoming, on March 28th, 2005, which contained errors on page 2,
number 6; page 2, number 1; and page 3, number 5.
KNO[F%4~ .~. MEN BY THESE PRESENTS, that RANDY J. THOMPSON and
HEATHER L. THOMPSON, husband and wife, of 505 Twin Cliffs Road, Aflon, County
of Lincoln, State of Wyoming, 83110, (hereafter Mortgagor), hereby secure the payment
of the principal sum of one hundred thirty five thousand ($135,000.00) dollars plus
interest in the amount of 6%, as evidenced by a Promissory Note dated of even date
herewith, to the order of THE LaMONT R. MERRITT REVOCABLE FAMILY TRUST,
dated September 10, 1997, LaMONT MERRITT, Trustee, (hereafter Mortgagee), to be
paid as follows:
1. The mortgagor shall pay to the mortgagee the principal sum of one
hundred thirty five thousand ($135,000.00) dollars to be amortized over fifteen (15)
years at 6% interest on the unpaid balance.
2. The principal and interest shall be paid and applied pursuant to the
Amortization Schedule attached as "Exhibit A" made part of this document by reference
and incorporation. The estimated payments being one thousand one hundred thirty
nine dollars and twenty one cents ($1,139.21) and the last payment, if all payments are
made when due, being one thousand one hundred thirty eight dollars and thirty three
cents ($1,138.33).
Page I of 7
RECEIVED 4/11/2005 at 10:34 AM
RECEIVING # 907571
BOOK: 582 PAGE: 741
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, VVY
,.- 00742
3. The first payment is due on April 15th, 2005, and each consecutive
payment is due on the 15th day of each month thereafter. O~(.J'7~i'~
4. Mortgagor may prepay the principal amount in whole or in part 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 installments or
change the amount of such installments, unless the mortgagee shall otherwise agree in
writing.
5. If any payment is made more than 10 days after the date due the
mortgagor shall pay an additional fifty dollars ($50.00) in the form of a late payment
charge.
6. Any and all terms of the promissory note of even date are herein
incorporated and made part of by reference as if fully set forth herein.
MORTGAGOR hereby mortgages to mortgagee, the following described real estate,
situated in the County of Lincoln, State of Wyoming:
Lot 10 of Twin Cliff Subdivision, Lincoln County,
Wyoming, as described on the official plat filed
December 7, 1990 as Instrument No. 726579 of
The records of the Lincoln County Clerk.
Mortgagor hereby 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 free from all encumbrances and hereby covenants to warrant
and defend the title of the premises against the lawful claims of all persons
whomsoever.
Page 2 of 7
'- 00743
MORTGAGOR covenants with mortgagee as follows: ~' ,r..~
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.
3. To perform comply with and abide by each and every 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 thereafter accruing.
5. Nothing shall be done on or in connection with the property that may
impair mortgagee's security hereunder; mortgagor will commit, permit to suffer no
waste, impairment or deterioration of the property nor any part thereof, and the property
shall be continuously maintained in good and sightly order repair, and condition by
mortgagor at his expense.
6. Mortgagee and mortgagor agree that there are no insurable
improvements on the property. Therefore, mortgagor is not required to carry insurance
on the premises.
Page 3 of 7
'. 00 74 4
7'. In case mort§a§or defaults in the payment of §round rents, if any, taxes,
assessments, water or other §overnmental or municipal char§es, or other lawful
char§es as herein provided, mort§agee may without notice or demand, pay the same
and in case of any failure on the part of mort§a§or to comply with the covenants of
I~ara§raph 5 hereof, mort§a§ee may effect such repairs as it may reasonable deem
necessary to protect the property, at the expense of mort§agor. Mort§a§or shall repay
such sums so paid and all expenses so incurred by mort§a§ee, with interest thereon
from the date of payment, at six percent (6%) 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
makin§ such repayments the whole amount hereby secured if not then due shall, if
mort§agee so elects, become 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 unpaid balance, and mortgagee will be entitled to a deficiency
judgment.
9. In case default is made in the payment, when due, of the indebtedness
hereby secured, or of any 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 option of mortga§ee, although the period above limited for the
Page 4 of 7
o99757 0074 5
payment thereof may not have expired, anything herein before or in the note contained
to the contrary 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 tlie
premises, at public 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 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, including reasonable
attorney fees, and in payment of all money expended or advanced by mortgagor
pursuant to 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 thereon and the surplus if any, shall be paid by mortgagor on demand to
mortgagee. In case mortgagee fails promptly to foreclose on the happening of any
default, it shall not thereby be prejudiced in its right to foreclosure at any time thereafter
during which such default continues, and shall not be prejudiced in its foreclosure rights
in case of further default.
10. In case of any default whereby the right of foreclosure occurs hereunder,
mortgagee shall at once become entitled to exclusive possession, use, and enjoyment
of all property, 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 there is any; and such possession, rents, issues, and profits shall at once be
Page 5 of 7
0 0757 ' 00746
delivered to mortgagee on request, and on refusal, the delivery of such possession,
rents, issues, and profits may be enforced 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 without regard to the solvency or insolvency of
mortgagor or the then owner of the property, 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 receiver 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 mortgagor 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 the 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 notice 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
therein is sold, transferred or encumbered by mortgagor without mortgagee's prior
written consent, excluding 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
Page 6 of 7
O O?,57I ,. 0 0 7 4 7
option, declare the entire remaining balance due under this a§reement to be
immediately due and payable and give written notice to mo~gagor thereof. After receipt
of such written notice, mort§ago(shall have ninety (90) days in which to pay the entire
remaining balance to mortgagee.
12. The covenants herein contained shall bind, and the benefits and
advantages shall inure to, the respective heirs, executors, administrators, successors,
and assigns of the paRies hereto. Whenever used, the singular number shall include
the plural, the plural the singular, and the use of any §ender shall include all genders.
13. Whenever used herein, the terms "mo~tgagoV and "mortgagee" include all
the parties to this instrument and the heirs, legal representatives, and assigns of
individuals, and the successors and assigns of corporations; and the term "Note"
includes all the notes herein described if more than one.
as of the
IN MTNESS [VHE~OF, mortgagor has caused this mortgage to be executed by its authorized officers
da_y of April, 2005. ~/ ~0~ ~/7.~~
The foregoing mas acknoMedged before my b~y RAND Y J. THOMPSON and H~ATHER L~
THOMPSON, husband and mi_lee, this ~'~ day of April, 2005.
W/ITNESS m.y hand and offdal seal.
Page 7 of 7
NOTARY PUBEdC
STATE OF I/?YOMING
CO UNTY OF LINCOLN
ThompSon- Merritt Loan
Principal: 1~5,'000.00
Monthly paymen~
Final estimated payment
Date No.
4/2005
5/2oo5
6/2005
7/2005
8/2oo5
9/2oo5
lO/2OO5
11/2oo5
12/2005
1
3
4
5
6
7
8
9
2005 Totals
Int. Rate: 6.000 %
1,139.21
1,138.33
Years: 15 Months:
Interest Principal Balance
675.00
672.68
670.35
668 00
665 65
663 28
660 90
658 51
656 10
464 21
466 53
468 86
471 21
473 56
475 93
478 31
480 70
483 11
5 990.47
0'0748
4,262.42
134 535 79
134 069 26
133 600 40
133 129 19
132 655 63
132 179 70
131 701 39
131 220 69
130 737 58
1/2006
2/2006
3/2006
4/2006
5/2006
6/2006
7/2006
8/2006
9/2006
10/2006
11/2006
12/2006
2006 Totals
~10
~11
,'12
113
'14
~,15
!16
,17
'18
.20
'21
653 .69
651 26
648 82
646 37
643 90
641 43
638 94
636 44
633 92
631 40
628 86
626 31
7,681.34
485.52
487 95
490 39
492 84
495 31
497 78
500 27
502 77
505 29
507 81
510 35
512 90
5,989.18
130 252.06
129 764.11
129 273.72
128 780.88
128 285.57
127 787.79
127 287.52
126 784.75
126 279.46
125 771.65
125 261.30
124 748.40
1/2007
2 /2007
3/2007
4/2007
5/2007
6/2007
7 /2007
8 /2007
9/2007
10/2007
11/2007
12/2007
2007 Totals
22
:'.23
.,:24
.25
~26
~27
!29
131
32
~33
623.74
621 16
618 57
615 97
613 36
610 73
608 08
605.43
602.76
600.08
597.38
594.67
7, 311. 93
515 47
518 05
520 64
523 24
525 85
528 48
531 13
533 78
536 45
539 13
541 83
544 54
6,358.59
124 232 93
123 714 88
123 194 24
.122 671 00
122 145 15
121 616 67
121,085 54
120,551 76
120,015 31
119,476 18
118,934 35
118,389 81
1/2008 .34
2/2008 [35
3/2008 ~36
4/2008 37
5/2008 '38
6/2008 ;39
7/2008 40
8/2008 41
9/2008 142
10/2008 '43
11/2008~44
591.95
589.21
586.46
583.70
580.92
578.13
575.32
572.51
569.67
566.82
563.96
547.26
550 00
552 75
555 51
558 29
561 08
563 89
566 70
569 54
572 .39
117,842 55
117,292 55
116,739 80
116 184
115 626
115 064
114 501
113 934
113 364
112 792
112 217
29
00
92
33
79 XHIRIT NO.
12/2008
2008 Totals
1/2009
2/2009
3/2009
4/2009
5/2009
6/2009
7/2009
8/2009
9/2009
10/2009
11/2009
12/2oo9
2009 Totals
1/2010
2/2010
3 /2010
4/2010
5/2010
6/2010
7/2010
8/2010
9/2010
10/2010
11/2010
12 /2010
2010 Totals
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
~60
.61
~62
!~63
'64
'=65
i66
167
~.69
561.09
919.74
558.20
555.29
552.37
549 44
546 49
543 52
540 55
537 55
534 54
531 52
528 48
525 43
6,503.38
522.36
519 28
516 18
513 06
509 93
506 78
503 62
500 44
497 25
494 04
490 81
487 57
6,061.32
578.12
6,750.78
581 01
583 92
586 84
589 77
592 72
595 69
598 66
601 66
604 67
607 69
610 73
613 78
7,167.14
616 85
619 93
623 03
626 15
629 28
632 43
635 59
638 77
641 96
645 17
648 40
651 64
7, 609.20
111, 639.03
111,058.02
110 474.10
109 887.26
109 297.49
108 704.77
108 109.08
107 510.42
106 908.76
106 304.09
105 696.40
105 085.67
104 471.89
103 855 04
103 235 11
102 612 08
101 985 93
101 356 65
100 724 22
100 088 63
99 449 86
98 807 90
98 162 73
97 514 33
96 862 69
1/2Oll
2/2011
.3/2011
4/2Oll
5/2Oll
6/2Oll
7/2011
8/2Oll
9/2011
lO/2Oll
11/2Oll
12/2Oll
2011 Totals
:70
.:71
:172
,73
174
'75
i76
;i77
!78
~79
~80.
484.31
481.04
477 75
474 44
471 12
467 78
464 42
461 05
457 65
454 25
450 82
447 38
592.01
654.90
658.17
661.46
664.77
668.09
671.43
674.79
678.16
681.56
684.96
688.39
691.83
078.51
96,
95,
94
94
93
92
92
91
90
90
89
88,
207 79
549 62
888 16
223 39
555 30
883 87
209 08
530 92
849 36
164.40
476.01
784.18
1/2012
2/2012
3/2012
4/2012
5/2012
6/2012
7/2012
8/2012
9/2012
10/2012
11/2012
12/2012
82
83
84
85
86
87
88
~89
90
91
~92
93
443
440
436
433
429
426
422
419
415
412
408
404
92
44
95
44
91
36
.80
.22
.62
.00
.36
.71
695.29
698 77
702 26
705 77
709 30
712 85
716 41
719 99
723 59
727 21
730 85
734 50
88,
87
86
85
.85
84
83
83
82,
81,
80,
80,
088 89
390 12
687 86
982 09
272 79
559 94
843 53
123 54
399 95
672 74
941.89
207.39
2012 Totals 5,093.73 8,576.79
1/2013
2/2013
3 /2013
4/2013
5/2013
6/2013
7/2013
8/2013
9/2013
10/2013
11/2013
12 /2013
2013 Totals
i[94
~"95
196
97
98
99
100
101
102
103
104
401.04
397.35
393.64
389.91
386.16
382.40
378.61
374.81
370.99
367.15
363.29
359.41
4,564.76
1/2o14
2/2014
3/2014
4/2o14
5/2014
6/2014
7/2014
8/2014
9/2o14
10/2014
11/2014
12/2014
2014 Totals~
106
107
108
109
110
111
112
113
114
115
116
i17
355 51
351 59
347 65
343 69
339 72
335 72
331 70
327 66
323 61
319 53
315 43
311 31
4,003.12
1/2015
2/2015
3/2o15
4/2o15
5/2o15
6/2o15
7/2o15
8/2o15
9/2o15
10/2015
11/2015
12/2015
2015 Totals
118
119
120
121
122
124
125
126
127
]_,28 .
129
307.17
303 01'
298 83
294 63
290 41
286 16
281 90
277.61
273.30
268.97
264.62
260.25
3,406.86
1/2016
2/2016
3/2016
4/2016
5/2016
6/2016
7/2016
8/2016
9/2016
10/2016
11/2016
12/2016
130
131
132
133
134
135
136
137
138
139
140
141
25J.85
25].44
247 00
242 54
238 05
233 55
229 02
224 47
219 89
215 30
210 68
206 04
738.17
741 86
745 57
749 30
753 05
756 81
760 60
764 40
768 22
772.06
775.92
779.80
9,105.76
10,
783.70
787.62
791.56
795.52
799.49
803.49
807 51
811 55
815 60
819 68
823 78
827 90
667.40
832 04
836 20
840 38
844 58
848 80
853 05
857 31
861 60
865 91
870 24
874 59
878 96
263.66
883.36
887 77
892 21
896 67
901 16
905 66
910 19
914 74
919 32
923 91
928 53
933 17
79 469
78 727
77 981
77 232
76 479
75 722
74 962
74 197
73 429
72 657
71 881
71 101
22
36
79
49
44
63
03
63
41
35
43
63
70 317 93
69 530 31
68 738 75
67 943 23
67 143 74
66 340 25
65 532 74
64 721.19
63 905.59
63 085.91
62 262.13
61 434.23
60 602.19
59 765.99
58 925.61
58 081.03
57 232.23
56 379.18
55 521.87
54 660.27
53 794.36
52 924.12
52 049.53
51 170.57
50 287.21
49 399.44
48 507 23
47 610 56
46 709 40
45 803 74
44 893 55
43 978 81
43 059 49
42 135 58
41 207 05
40 273 88
'.00750
2016 Totals
1/2017
2/2017
3/2017
4/2017
5/2017
6/2017
7/2017
8/2017
9/2017
i0/2017
11/2017
12/2017
2017 Totals
142
143
144
145
146
147
148
149
150
151
152
153
2, 773,83
201.37
196 68
191 97
187 23
182 47
177 69
172 88
168 05
163 19
158 31
153 41
148 48
2 101.73
10,896.69
937.84
942 53
947 24
951 98
956 74
961 52
966 33
971 16
976 02
980 90
985 80
990.73
11,568.79
39 336.04
38 393.51
37 446.27
36 494.29
35 537 55
34 576 03
33 609 70
32 638 54
31 662 52
30 681 62
29 695 82
28 705 09
00751
1/2018
2/2018
3/2018
4/2018
5/2o18
6/2018
7/2018
8/2018
9/2018
10/2018
11/2018
12/2018
2018 Totals
154
155
156
157
158
159
160
161
162
163
164
165
143
138
133
128
123
118
113
108
102
97
92
87
1,388
.53
55
54
52
46
38
28
15
99
81
61
37
.19
995.68
1,000.66
1 005.67
1 010.69
1 015.75
1 020.83
1 025 . 93
1 031.06
1 036.22
1 041.40
1 046.60
1 051.84
12,282.33
27
26
25
24
23
22
21
2O
19
18
17
16
709
708
703
692
676
655
629
598
562
521
474
422
.41
75
08
39
64
81
88
82
60
20
60
76
1/2019
2/2019
3/2019
4/2019
5/2019
6/2019
7/2019
8/2019
9/2019
10/2019
11/2019
12/2019
2019 Totals
166
167
168
169
170
171
172
173
174
175
176
177
82.11
76 83
71 52
66 18
60 81
55 42
50 00
44 56
39 08
33 58
28.05
22.50
630.64
1,057.10
1 062.38
1 067 69
1 073 03
1 078 40
1 083 79
1 089 21
1 094 65
1 100 13
1 105 63
1 111 16
1 116.71
13,039.88
15 365 66
14 303 28
13 235 59
12 162 56
11 084 16
10 000 37
8 911 16
7 816 51
6 716~38
5 610.75
4 499.59
3 382.88
1/2020
2/2020
3/2020
2020 Totals
178
179
180
16.91
11.30
5.66
33.87
1,122.30
1,127.91
1,132.67
3,382.88
2,260.58
1,132.67
0.00
Grand Totals
70,056.92
135,000.00