HomeMy WebLinkAbout907771 RECEIV.~_D 11/22/2004 at 3:52 PM
RECE'iV.tNG. ~ 904759
BOOK: s73 'P E: 284 RE/IL
JEANNE WAG'~ER
LINCOLN COUNTY CLERK, KEMMERER, VVY
RECEIVED 4120/2005 at 1:04 PM
RECEIVING # 907771
BOOK: 583 PAGE: 402
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, VVY
ESTATE Mc,st t r,
,, ,, 00402
TItlS MORTGAGE is granted by GEORGE VERNON CARTWRIGHT JR., att unmarried man and REENA BETH
'RAUCHWERGER, a~t utimam'ied womatt, as MORTGAGOR, to
-TRINA REINHART, a married woman dealing with her sole and separateproperty, c~ 3'[ORTGAGEE.
TRENA
WITNESSETIf :
Mortgagor; for good and valuable considerations, the receipt of Which is .hereby acknowledged, does hereby GR,4NT, BARGAIN, SELL, CONFEY
AND WARRANT, and further releases and waives all rights under and by virtue of the homestead exemption laws qf Wyoming, ttnto the Mortgagee.
his stmcessors and assigns, all of the following described real property, to wi!:
Lot 108 itt Nordic Ranches Division No. ~ ttcoltt CottltO~, [Vyomittg, as described on the
official plat thereof
TOGETHER WITH any and all improvements, water and ditch rights, rights of ways, easements, privileges, ventilating, tenements,
hereditaments and appurtenances thereunto belonging or in anywise appertaining, now or hereafter used on said land or belonging to
said ~4ortgagor, and any reversion, remainder, rent& issues and profits thereof hereinq~erreferred to ~ the "l'roper0,".
This grant is intended as a Mortgage, a Fgrture Filing attd ~ecttr[O~ Interest for the Ptttjiose of ,gecuring:
1. Petformance of each agreement of Mortgagor herein containe& each agreement and covenant contained in the loan documents associated with
this mortgage, and any extension, renewal, mod~cation and/or amendment thereof "Loan documents" shall include the above described note, this
mortgage, and any other documents or instruments signed in connection with this loan.
2. Payment of the indebtedness evidenced &), a promissory note of even date herewith, and any extension or renewal thereof in the princcalsum
of TEN THOUSAND ONE HUNDRED EIGHTY ONE DOLLARS ($10,181.00), the final payment of princcal crud interest thereof
~f not soonerpai4 to be final& due and p~l~able OCTOBER 26, 2005.
3. Pa),ment of all such fio'ther sums ~ may hereafier be loaned or advanced by the Mortgagee for any pu,7)ose,' and any notes, drc~s and/or other
instraments representing such fiwther loans, advances or expenditures shall be optional with the Mortgagee, and shall become due and payable no
later than the final maturity date of said note secured hereby; and provided fitrther, that it is the express intention of the parties to this ~[ortgage that
it shall stand ~ continuing security until all such loans, advanc~ or expenditures together with interest thereon, are paid in
A. To protect the securiO, of this 31ortgage, Mortgagor warrants~ covenaats attd ttgrees:
]. The property is fi'ee from all encumbrances, except ~ may be described herein, and that Mortgagor shall warrant and defend the same forever
against the la~,~d claims and demands of all persons whomsoever, and this covenant shall not be extinguished by foreclosure or other t,'ansfe~x.
2. To keep all buildings and other improvements now or hereafter existing in good condition and repair; to not remove or demolish any building
or other improvement thereon; to complete or restorepromptly and in a good workmanshiplilcentanner any improvement which may be convtructec~
damaged or destroyed thereon; to pay when due all claims for labor performed a~d materialsfitrnished thereto or therefor; to compO, with all laws
affecting said property or requiring any alterations or improvements to be made thereon; to not commit or permit waste thereof or lhereot~; to
maintain, cultivate, irrigate, fertilize, fianigate, prune, all in a good and husbandtylike mamie~; the land and improvements thereto; to not change or
permit change in the use qf the proper06' to not do anything which would reduce the value of the property; and do all other acts which fi'om the
character or use of said property may be reasonably necessao~, the spec~c enumerations herein not excluding the general.
3. To provide, maintain and deliver fire insurance satisfacto~y arm with loss payable to Mortgagee; to maintain liabilio~ insurance; to pay all
premi~tms and charges on all such insurance when due; and to provide Mortgagee satisfactoryevidence of such insurance ttpon requesL The atnottnl
collected under any fire or other insurance policy may, at k[ortgagee ~ option and determination, be applied upon any indebtedness secured herebF in
such order as bIortgagee determines, be rele~ed to Mortgagor in whole or par6 or any combination thereof Such application or relea.~e shall ~tol
cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice.
4. To pay before delinquency all tm:es, assessments, or rents qffecting said proper(F; to pq)~ when due all encun brances, charges and liens, with
interest, affecting said property which are or may appear to be prior or superior hereto; aad to pay all costs, fees and expenses of this Mortgage and
~sociated loan documents.
5. To pay inunediately and without demand all sums expended by Mortgagee pursuant to the provisions hereof with interest fi'om date of
expenditure, at a rate equal to the interest rate payable under the promissory note described above or twelve percent (12~) per annum, whichever is
greater.
6. To appear in and defend any action or proceedingpurporting to affect the securiO, hereof or the rights or powers of Mortgagee; to pay, on
demand, all costs and expenses, including without limitation, cost of title evidence, re~onable attorney ~ fees, advances, and/or costs, paid or
incurred by Mortgagee to protect or enforce its rights under bankruptcy, appellate proceedings or otherwise, and all such costs and expenses shall
become a part of the indebtedness secured by this mortgage.
7. Should Mortgagor fail to make any payment or to do any act as herein provided, Mortgagee, but without obligation so to do and withoat notice
or demand tq~on Mortgagor and without rele~ing Mortgagor.fi-om any obligation hereof mc(w make or do the same in such manner and to such
extent as 3~ortgagee may deem ttecessary to protect the secttrity hereof Mortgagee being attthorized to enter ~q~on said property for such put7)oxes,'
appear in and dqfend any action or proceeding purporting to affect the security hereof or the rights or powers of Mortgagee; pay, purchase, contest
or compro,tise any enc~tmbrance, charge or lien which in the judgment of Mortgagee appears to be prior or superior ] ereto; and in exercising any
such powers or in et~forcing this Mortgage by judicial foreclosure or otherwise, pay the necessary expense& costs and reasonable attorney's fees.
8. 7~ comply with all laws, ordinances, regulations, covenants, condition,s and resh'ictionx q[fecting the ProperO~ and it.~ use, iucluding withottl
limitation all environmental laws; not to use or permit the use of the Property for any unlined or objectionable purpose; to remedy any
environmental contamination or violation of environmental laws that may occttr or be discovered in the fitture; to allow 3[ortgagee access to the
ProperOJ to inspect its condition and to test and monitor for compliance with applicable laws (any inspections or tests made by 3Iortgagee shall be
for Mortgagee ~pu~os~ only and shall not be construed to create any resFonsibilityor liabilio~ on the part of Mortgagee to gIortgagor or to ctny
other pe~xo~O ; to forward copies of any notices received fi-om a~o~ environmental age~?cies to Mortgagee; and to b, clenm~y and hold Mortgagee, his
ea~ployees, agents and his sttccessors and ~signs, harmless fi'om and against anf~Mtronmeatal clatms of any kin& and all costs and expenses
incurred in connection therewith, including, without limitation, attorney ~ fees.
9. Any award of damages in connection with any condemnation for public use of or i~to3, to said property or any part therec( is hereby assigned
and shall be paid to ~[ortgagee who may apply or relec~esuch monies receivedby him in the same manner and with the same qffecl ~ above
provided for disposition of proceeds of fire or other insurance. .'
10. The faihtre of Mortgagee to exerciseany right or option provided herein at any time, shall not preclude Mortgageefi-om exercisingany ~f st~ch
,'ights at any other time; by acceptingpayment 9{ any sum secured hereby after its due date, Mortgagee does not waive his right either to require
prompt pqpment when due of all other sums so secured or to declare default for faihwe so to p~l,; oil rights co~ferred on Mortgagee are cumulative
and addiiional to any rights col~erredby law' and if any provision is found to be invalid or unenforceable, suh in alidit) or unenforceabiliO, shall
not affect any other provision hereof and the mortgage shal~l be construed as thgugh such provision had been omitted.
11. As additional securiO~, Mortgagor hereby gives to and confers upon Mortgagee the right, power and authority, during tile continuance of this
mortgage, to collect the rents, issues and profits of said properO~ tz~ they become due and payable; Reserving however unto Mortgagor, prior to any
d~fault by Mortgagor itt payment of arty indebtedness secured hereby or itt performance of any agreement hereunder; the right to collect and retain
such rents, issues and profits. Upon any such default, l~[ortgagee may at any time wi*hoar notice, either itt person, by agent or court appointed
receive,; attd'without regard to the adequacy of any secariO~for the indebtedness hereby secured, enter upon and take possession of said property or
atL), part thereof, itt his own name sue for or otherwise collect such cents, issues and profits, including those past due and unpaid, and apply the
same, less costs attd expenses of operation and collection, including 'reasonable attorney's fees, upon any indebtedness secured hereby, attd in such
order as )~rortgagee may determine. The entering upon and taking possession of said proper06 the collection of such rents, issues and prqfits and the
· application thereof as aforesaid, shall not cure or waive any default hereander or invalidate any act done parsuant to any such default notice.
12. DUE ON SALE: The inclebteclness and obligations secured by this mortgage is personal to the Mortgagor and is not assignable by g¥ortgagor.
Mortgagee has relied upon the credit of Mortgagor, the interest of Mortgagor in the Property and the fiaancial market conditions then existing when
making this loan. If Mortgagor transfers or contracts to transfer; title to or possession of, all or part of the ProperO~, or any equitable interest
therein, whether by dee4 contract for deed, asMgnment, lease for a term itt excess of one year, lease with att option to purchase, option to purchase,
or similar agreement; or if the ownership of any corporation or partnership, owning all or any portion of the ProperO~ shall be changed either by
voluntary or involuntary sale or transfer or by operation of law, )~[ortgagee may declare all sums due under atD~ note, securiO~ agreement, and/or
loan documents associated herewith, immediately due and payable. Noncompliance with this covenant shall constitute attd be a default of this
obligation which shall entitle Mortgagee.to effectuate any attd all remedies provided.
13. Time is of the essence and a material part cf this agreement. It: the event of default, at M'ortgagee's option, the entire indebtedness secured
hereby shall forthwith become due attd payable and bear interest at the rate of TWELVE PERCENT (12%) per annum; Mortgagee shall have the
right to foreclose the lien of this mortgage, to have a receiver appointed in any court proceeding, to collect any rents, issues and profits fi-om the
Property attd apply them against the indebteclness hereby secured; to sell the Property at foreclosure en masse, or as one lot or parcel at tile option
of )~[ortgagee, and to exerciseany rights and remedies available under the Uniform Commercial Code for the State itt which the property is locate&'
and reasonable notice if required by such Code shall be.five (5) days.
14. The Mrortgagee may at any time, without notice, re!easeportions of said mortgaged premisesfront the lien of this mortgage, without qffecting
the personal liability of any person for the payment of the said indebtedness or the lien of this mortgage upon the remaincler of the mortgaged
premises for the fidl amount of said indebtedness then remaining unpaid.
15. Mortgagor and each of them join in this instrument for the putT)ose of subjecting each of their right, title and interest, if any, in tile Property,
whether of record or otherwise and including any right to possession, to the lien of this mortgage.
!6. This mortgage, all loan documents and the note(s) secured hereby shall be governed and construed according to the laws of the State of
Wyoming. In the event of default, Mortgagor grants to Mortgagee a Power of Sale to foreclose on and sell said properO, at public attction pursuant
to Wyoming Statute Section 34-4-101 et:seq.
17. This mortgage applies to, inures to the benefit of and binds all parties hereto, their heirs, devisees, personal represeatatives, successors and
assigns. The term 3,[ortgagee shall mean the holder, and owner of the note secured hereby; or !f the note has been pledged, the pledgee thereof. Itl
this 3(ortgage, wherever the context so requires, the masculine gender incl,ldes the feminine and/or neuter, attd the singular number includes the
pha'al.
., , /. V
George~n Cartwright, dr.
Reena Beth Rauchwerger
STATE OF g'TOMING )
County of L[AJ ~4.3(_./~ )
The foregoing instl-ument was acknowledged before me by George
Vernon Cartwrt~,ht, Jr. and Reena Beth Rauchwerger, this ~_IOda), of ~CIT)ttt'Pt--
, ~ ZOOt(
WITNESS my hand and official seal.
Public for Wyoming
Notary
My
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