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MORTGAGE DEED WITH RELEASE OF IIOMESTEAD
Bmce E. Pierson
Mortgagor(s), of County, State of California , to secure payment of
Thirty thousand six hundred dollars and 00/100 Dollars ($ 30,óOO.OO ), due
September 15, 2015 with interest from September 15, 2005 at the rate of
10 (ten) per cent per annum payable monthly, evidenced by Promissory Note of even date herewith, in monthly
installments of Four hundred four dollars and 38/ 100 Dollars ($ 404.38 ) each,
including interest, commencing on the 15th day of October ,2005, and continuing on the same day of
each month thereafter, do_ hereby mortgage and warrant to LEISURE VALLEY, INC., a Nevada Corporation,
Mortgagee, of Lincoln County, Wyoming, the following described real property in the County of Lincoln, State of Wyoming:
Lot 138 of STAR VALLEY RANCH PLAT EIGHTEEN (18)
Mortgagor(s) agree_ to pay the indebtedness according to the terms and conditions of that certain Promissory Nore hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc" and during the life of this mortgage to pay all taxes and assessments against
the premises. If Mortgagor(s) fail_ to pay suchtaxes or assessments, IvIortgagee may pay the same, and all sums paid by Mortgagee
for such purpose shall be added to and considered as a part of the indebtedness and shall draw interest at the same rate,
If default occurs in the payment of the indebtedness or in the payment of any installment thereof, ur if default occurs in any of the
covenants and agreements hereof or under the aforesaid Promissory Note, then the whole indebtedness shall, at Iv!ortgagee's option,
become due and payable forthwith, and Mortgagee may foreclose this mortgage either by adver1Ísement and sale of the premises as
provided by the statutes of the State of Wyoming, or by an action in equity, This will be Mortgagee's sole remedy against Mortgagor(s)
in case of default by Mortgagor(s), Out of the proceeds of any foreclosure the Mortgagee shall retain or receive all sums due to it hereunder
and costs of foreclosure and sale, including attorney fees in an amount equal to Ten Percent 00%) of the indebtedness remaining unp¡nd
at the time of such sale, and the same shall be taxed as costs in any equitable action brought to foreclose this mortgage,
To fully assure lvf0l1gagee the benefits of the security interest in the premises granted to it hereunder, Mortgagor(s) hereby assign
to Mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with !\!ongagor's
consent. If default occurs in any of the the covenants and agreements herein contained or under the aforesaid Promissory Note, wherher
or not !\10rtgagee elects to foreclose this mortgage on account ¡hereof, Mortgagor(s) hereby authorize~_ Morrg~lgee to collect ¡he rents
from the premises and to apply the same to the payments on the indebtedness secured hereby until such clet:lult is rcmedied,
In the event of foreclosure of this mortgage upon defauJt, Mortgagee shall be entitled to the possession and enjoyment of the premises
and rents and profits thereof from the time of such default and during the pendency of foreclosure proceedings and period of redemprion,
if any, If Mortgagor(s) shall fail to surrender such possession to Mortgagee promptly upon its request therefor, Mortgagee may compel
delivery thereof by ejectment action or other civil proceedings appropriate for that purpose, Furthermore, in addition to the remedies
otherwise provided for in this mortgage and by law and as a matter of right without rt'gard to the solvency or insolvency ofMortgagor(s),
or the value of the premises or the insufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, 1v!ongagce shall
be entitled to receive from the premises the rents, issues and profits thereof from the time of default to the expiralion of any redemptive
period provided by law, A receiver may be appointed by any court of competent jurisdiction upon ex parte application without notice,
notice being hereby waived and appointment of a receiver upon SLlch application being hereby consented to by the MortgagOl(s),
MORTGAGORS(S) HEREBY RELINQUISH_ AND WAIVE_all rights under and by virtue of the homestead
exemption laws of the State of Wyoming,
Dated this
:2,0
day of
,LJi},t1I/¿,de/l, ,2005,
I
MORTGAGORS:
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tY
STATE OF r C\ \itDíi,\( (L.
COUNTY OF 1ì'\ontt'V'i'-1...-\
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RECEIVED 11/14/2005 at 10:40 AM
RECEIVING # 913646
BOOK: 604 PAGE: 571
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
S;~()~(Yn \c" (' ,2005, before me personally appeared Bruce E. Pierson
known to me to be the person(s) described in and who executed the foregoing instrument,
executed the same as ~~ free act and deed, including the release and waiver of the
On this (~O day of
and
and acknowledged that he
right of homestead.
WITNESS my hand and seal.
n-~)u:~...O ~Ò)\ o/,~--"'X\'\ ,:¡9-.---n":'_~
NOTARý:'þUBLIC in and for said County and State
My commission expires
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