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HomeMy WebLinkAbout916940 Return to: P.O. Box 409 Thayne, WY 83127 ... RECEIVED 3/27/2006 at 11 :02 AM t RECEIVING # 916940 BOOK: 615 PAGE: 233 JEANNE WAGNER LINCOLN COUNTY CLERK. KEMMERER. WY MORTGAGE DEED Liela Leavitt, mortgagor of Lincoln County, State of Wyoming, to secure the payment of Fifty-Five Thousand Dollars and No/Cents, due no later than July 15, 2006, with the interest thereon at the rate of 11 % per year (said sum, and the interest thereon being referred to as the "indebtedness"), payable in full in accordance with the provisions of that certain promissory note, dated March 1, 2006 hereby mortgage and warrant to mort!agee, Lester Barber of Lincoln County, State of Wyoming the following described real estate, situated in the County of Lincoln, in the state of Wyoming, to wit: Legal Description: 324 5th Ave. ACton, WY 8311 0 Afton Original Town, Block 26, Lot 2 part Mortgagors agree to pay the indebtedness according to the terms of said promissory note, and, during the life ofthis mortgage, to pay all taxes and assessments on the premises and to keep the improvements thereon insured against fire and other hazards in a sum not less than Fifty-five Thousand Dollars ($55,000.00) by such insurance as mortgagee may approve, with the proceeds thereof made payable to mortgagee. If mortgagors fail to pay such taxes or assessments or fail to keep the premises insured, mortgagee may pay the same and may insure the premises, and all sums paid by mortgagee for such purposes shall be added to and considered as part of the indebtedness and shall draw interest at the same rate. I If default occurs in the payment of the indebtedness or in the payment of any installment thereof, or if default occurs- in any of the covenants and agreements thereof, 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 above described premises at public vendue according to Wyoming Statutes, or by an action in equity. Out of the proceeds of any foreclosure sale, mortgagee shall retain or receive all sums due to it hereunder, and costs of foreclosure and sale, including attorney fees in an amount "qual to ten percent of the indebtedness remaining unpaid at the time of such sale, the same to be taxed as costs in any equitable action brought to foreclose this mortgage. To fully assure mortgagee the benefit of the of the security interest in the premises granted to it hereunder, mortgagors hereby assign to mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with mortgagors" consent. If default occurs in any of the covenants and agreements therein contained, whether or not mortgagee elects to foreclose this mortgage on account thereof, mortgagee shall at once be entitled, and is hereby authorized to collect the rents from the premises and to apply the same to the payment ofthe 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 enjoymeñt of the premises and the incident rents, issues and profits thereof from the time of such default and for and during the pendency of foreclosure proceedings and the period of redemption, if any. If mortgagors should fail to surrender such possession to mortgagee promptly upon its request therefore, mortgagee may compel delivery thereof by an ejectment action or other civil proceeding appropriate to that purpose. Furthermore, and in addition to the remedies otherwise provided for in this mortgage and by law, and as a matter of right, without regard to the solvency of insolvency of mortgagors, the value of the ~·WN~:·:·:~ ;·:~ ~~!~~~ . .' ~::~::;i·:::'.'- . ., ::¡¡¡¡~¡!:¡~fi.¡\\;f:r~::::::;:;; , t;;f.t~i¡~ ..;..1..'...... ':';,~;.;.:.:,;.,', 0916940 ....'.... ,.,....... '-rr{J:'~'" ·'11 ~..\Æ",., " ... foreclosure and sale, mortgagee shall be entitled to a receiver for the premises and rents, issues and profits thereof from the time of default to the expiry of any redemptive period provided by law. Such receiver may be appointed by any court of competent jurisdiction upon ex parte application, without notice, notice being hereby waived and the appointment of a receiver upon such application being hereby consented to by mortgagors. ) Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. Witness by hand this 28th day of February, 2006. 4~ State of _ Wyoming_ County of _Lincohl_ The foregoing instrument was aclmowledged before me by Leila Leavitt this 28th day of February, 2006. Witness my hand and official seal. DANETTE N. JOHNSON· NOTARY PUBUC County of ~ State of Uncoln W Wyoming My CommIssIon Explres"7-'-r-~ r ... ~ My Commission Expires: 7'/0· o?t"