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RECEIVED 4/6/2006 at 2:09 PM
RECEIVING # 917291
BOOK: 616 PAGE: 400
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
000400
MORTGAGE DEED
Lester Barber, mortgagor of Lincoln County, State of Wyoming, to secure
the payment of Fifty-Five Thousand Dollars and No/Cents, due no later than July
28, 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 mortgagee, Barco Construction of Lincoln
County, State of Wyoming the following described real estate, situated in the
County of Lincoln, in the state of Wyoming, to wit:
324 5th Ave.
Afton Original Town, Block 26, Lot 2 Part
Afton, WY 83110
Mortgagors agree to pay the indebtedness according to the terms of said
promissory note, and, during the life of this 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.
j 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 i.n 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 equal 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 authørized to collect the rents from the premises and to apply the same to
the payment of 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 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 conïpel 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 or insolvency of mortgagors, the value of the
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0917291
000401
premises, or the sufficiency thereof to discharge the indebtedness and costs of
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 5th day of April, 2006.
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State of _ Wyoming_
County of _Lincoln_
The foregoing instrument was acknowledged before me by Lester Barber this 5th
day of April, 2006.
Witness my hand and official seal.
I-
I DANETTE N. JOHNSON· NOTARY PUBLIC
County of ~ State of
Lincoln V Wyoming
My Commission Expires
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My Commission Expires: 7· I q .¿J~
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