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l\10RTGAGE DEED -WITH RELEASE OF HOMESTEAD
Jerold G. Schmidt
Mortgagor(s), of Salt Lake County, State of Utah , to secure payment of
Fourteen thousand four hundred ninety dollars and 00/100 Dollars ($ 14,490.00 ), due
September 6, 2015 ,with interest from SC Jtember6,2005 attherareof 10 (ten) per
cent per annum payable monthly, evidenced by Promissory Note of even date herewith, in monthly installments of
One hundred ninety-one dollars and 49/100 Dollars ($_191.49 ___~__) each,
including interest, commencing on the }'I day of October ,ZOOS, 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 73 of STAR VALLEY RANCH PLAT FIFTEEN (15)
Mortgagor(s) agree_ to pay the indebtedness according to the terms and conditions of that certain Promissory Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc" and during the life of this mortgage to pay all taxes and assessments agaillst
the premises. If Mortgagor(s) fail_ to pay such taxes or assessments, Mortgagee may pay the same, and all sums paid by }i{ortgagee
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, or if det~ll¡]t occurs in any of the
covenants and agreements hereof or under the aforesaid Promissory Note, then the whole indebtedness shall, at Mortgagee's option,
become due and payable forthwith, and Mortgagee may foreclose this mortgage either by advertisement and sale of the premises as
provided by the statutes of the State of Wyoming, or by an "ction 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 (10%) of the indebtedness remaining unpaid
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 Mortgagee 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'vvith Ì\'fortgagor's
consent. If default occurs in any of the the covenants and agreements herein contained or under the aforesaid Promissory Note, whether
or not Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize_ Mortgagee to collect the rents
from the premises and to apply the same to the payments on the indebtedness secured hereby until such default is remedied,
In the event of foreclosure of this mortgage upon default, 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 redemption,
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 a nd as a matter of right without regard 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 saJe, Mortgagee shall
be entitled to receive from the premises the rents, issues and profits thereof from the time of default to the expiration of any redemptive
period provided by law. A receiver may be appointed by any court of competent jurisdiction upon ex pane application without notice,
notice being hereby waived and appointment of a receiver upon such application being hereby consented to by the Mortgagor(s),
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MORTGAGORS(S) HEREBY RELINQUlSH_ AND WAIVE_all rights under and by virtue of the homestead
exemption laws of the State of Wyoming,
day of 6e.r"h~W1 be ý ,2005.
/"01 T GAGORSj2' '" ,,1
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Dated this
I (o-H-1
STATE OF ~
COUNTY OF ~Jj-- J-æ.l2c
On this /0 day of A-f,lJjt-e.-...,...a~ ,2005, before me personally appeared _Jerold G.
Schmidt and rr- known to me to be the person(s) descnbed II1 and who executed the
foregoing instrument, and acknowledged that he executed the same as ~lill..- free act and deed, including the release
and waiver of the right of homestead,
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W¡J'liE5.5 illY .mmd 'l)2.d .B;aL '7"' "-' '1
...,';:õ>"f<, , Notary Public
I ~:'';~~~':¡é PM E. MUII1 I
I ~"~ ~'~ 11304 South Four SvX Cove I
~ " c Sandy, Utah 84U92
i '-;.irjp.;..; My Commission Expires I
I -<.,~,..~" October 13, 2007 i
......~,.... State of Utah
My C~~-;;i:;;¡o-;e~pi~ ~.~ "~;/ZJ~~/3.j-,¿) 7
Q, éct E fY¡ ¿¿_~
NOTARY PUBLIC in and for said County and State
RECEIVED 11/14/2005 at 10:41 AM
RECEIVING # 913648
BOOK: 604 PAGE: 573
JEANNE WAGNER
LINCOLN COUNTY CLERK, f<EMMERER, WY
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