HomeMy WebLinkAbout911156co4> i] 003?2
MORTGAGE
Lawrence F. Read and Mary L. Read, Trustees of the Read Family Trust, dated June 19, 1989
Mortgagor of ?.0. Box 4296, Bedford, Wyom±ng , County of Lincoln,
State of Wyoming, hereby mortgage to
Thunnan Grover Ranch, LLC, a Wyoming close limited liability company
Mortgagee of 869 West Poleline Road, Rexburg, ID 83440
for the sum of $100,000.00
the following described tract of land in Lincoln County, State of Wyoming, hereby releasing and
waiving all rights under and by virtue of the homestead exemption laws of the State, to wit:
See Attached Legal Description
This mortgage is given to secure the following indebtedness: one note of even date herewith for
$100,000.00 made payable at the times and place and at the rate specified in the note
This mortgage is intended to cover the rents and profits of said property, and consent is hereby given after default, for the
appointment of a receiver by any competent court and the receiver is hereby authorized to rent the said property and apply the
proceeds on this obligation.
The Mortgagors agree to keep the buildings now on said premises or hereafter erected thereon fully insured against loss by fire
in some fire insurance company approved by the mortgagee, with loss, if any payable to mortgagee, during the life of this
mortgage.
The Mortgagors also agree to pay all taxes and assessments on said premises, including any assessments that may be levied on
water rights or shares of stock used in connection'herewith, or held as collateral with the above note; also any tax that may be
assessed by reason of this mortgage or the debt secured thereby, and reasonable attorney's fees in case of foreclosure, or the
commencement of any legal proceedings for foreclosure of the same, and said attomey's fees shall be added to the amount due on
this mortgage, and made a lien on the premises described herein. In case of default in the payment of any sum covenanted to be
paid, either the principal or interest when the same shall become due and payable, or in case of default in the perfom~ance of any
covenant herein contained, the whole amount of this indebtedness secured herein may be immediately declared due and payable,
and to bear interest at the rate of 10 percent per annum from the date of such default, and this, nqortgage foreclosed at the option
of the legal holder. In the event of default, Mortgagors grant to Mortgagees a Power of Sale to foreclose on and sell said propmXy
as public auction pursuant to 34-4-101 et seq. Wyo. Stat., 1977, or its successor.
WITNESS the hand of said mortgagor, this 16th of August, 2005
Signed in the pres ence of //M-/~ .q/~/~ ~/~,/' '~'J~
,t~awrence F?R~a~, rTrustee
Ma{'y ~,.yea~,, rrruste~
RECEIVED 8/23/2005 at 10:31 AM
RECEIVING # 911156
BOOK: 595 PAGE: 372
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
State of Wyoming }
County of Liner, la ~ }
On the lLag'&-'day of August, A.D.2005, personally appeared before me, Lawrence F.
Read and Mary L. Read, Trustees, the signers of the within instrument, who duly acknowledged
to me that they executed the same. t,~_ .~
No ary Public
Commission expires:
LAND TITLE COMPANY
- AUG-16-05 09:55 FROM-Land Title Company
30T-733-6186 T-62g P.O01/O01
EXHIBIT "A"
0 1i156
003?.3
PastU._m_
Beginning 28 rocls West of the Northeast Corner of thc Nerthwest Quarter of the
Northeast Quarter of Section 2, Township ,32 North, Range 119 West of the .6tl~
P.M., Wyoming, thence South 80 rods, thence West 24 rods, thence North 80 rods,
thence East 24. rods to 'the place.of beginning, togethe~ with all improvements and
water dghts.
ALSO:
Beginning at the Northeast Comer of the Northwest Quar[er.. of the Northeast
Quarter of Section 2, Township .32 North, Range' 1.19 West of th~ 6th Principal
Meridian, Wyoming, and running thence West 28 rsds, thence South 80 rods,
thence East 28 rods, thence North 80 rods, to the po!n~ of beginning.