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HomeMy WebLinkAbout917644 ~ COC446 MORTGAGE Lucia M. Fox, of 1325 S. Hwy 89, Jackson, Wyoming 83002 , (herein collectively called 'MORTGAGOR"), to secure the payment of $460,000.00, with interest thereon, as provided in and evidenced by a promissory note of even date herewith (the ultimate maturity date of which is September 18,2006) and .all renew.al.s, modification and extensions thereof, do hereby mortgage unto Snake River Funding, Inc. of 192 N. Woodruff, ldaho Falls, ID 83401 (herein c.alled "MORTGAGEE"), the following described real property, situate in the County of Lincoln, State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming, to-wit: Lot 86 of Star Valley Ranch Plat 7, Lincoln County, Wyoming as described on the official plat No. 179 filed August 4, 1971 as instrument No. 432466 of the records of the Lincoln County Clerk. MORTGAGOR agrees to pay the indebtedness hereby .secured; to pay .all taxes, assessments and charges levied .against the property, as the same become due and payable; to secure, maintain .and furnish MORTGAGEE evidence thereof, insurance with .an insurance carrier or carriers .acceptable to MORTGAGEE, covering the insurance improvements on the Property against loss by:fire and earthquakes, with extended coverage, in an amount not less than the unpaid balance of the debt hereby .secured, or the insurable value (replacement cost) of .such improvements, whichever is less, which insurance shall contain .an appropriate loss payable provision protecting MORTGAGOR .and MORTGAGEE as their respective interests may .appear from time to time. In the event MORTGAGOR fails to pay such taxes or .assessments, or fails to keep and maintain .such insurance as herein provided, MORTGAGEE may pay .such taxes.and assessments .and may .secure and pay for such insurance, and.all sums .so paid shall be .added to .and considered a part of the indebtedness hereby secured and .shall draw interest at the same rate. In case default shall be made in the payment of the .above sums hereby .secured, or in the payment of the interest thereon, or any part of such principal or interest, when the .same .shall become due; or in case of default shall be made in any of the covenants and agreements thereof, or in the event MORTGAGOR sells or conveys the Property, or .any part thereof, or any interest therein, without the prior written consent of the MORTGAGEE :first had and obtained, then the whole indebtedness hereby secured, with interest thereon, .shall become due and payable, at the option of MORTGAGEE, and MORTGAGEE'S legal representatives.and assigns, may proceed by .advertisement.and .sale/or as otherwise authorized by governing law, to foreclose on.and sdlthe Property, and out of the proceeds of .such sale, MORTGAGEE .shall pay .all sums due hereunder, together with .all costs of s.ale including reasonable .attorney's fees. lithe proceeds of the foreclosure .sale .are insufficient to pay the indebtedness hereby secured .and foreclosure co.sts, MORTGAGEE shall be entitled to .a deficiency judgment. In the event of .any default whereby the right of foreclosure occurs hereunder, MORTGAGEE .shall at once become entitled to exclusive possession, use and enjoyment of the .Property, and to .all rents, issues and profits from the .accruing of .any .such rights .and during the pendency of the foreclosure proceedings,.and the period of redemption, if any there be. MORTGAGOR warrants title to the Property as to p.arties claiming, by, through or under the MORTGAGOR only. RECEIVED 4/20/2006 at4:16 PM RECEIVING # 917644 BOOK: 617 PAGE: 446 JEANNE WAGNER LERK KEMMERER, WY LINCOLN COUNTY C , . ..u ._. u. .. )¡l~im~~;m: cù ,'~7 Ô917644 State of Wyoming County of Lincoln Sworn to, subscribed and llcknowledged before me this 18th day of April by Lucia M. Fox who is personally.known to me or who has produced drivers 1ìcense llS identification. 2006 Ñ~~ Mßy~ My commission expires: 9-15.,. 07 . ~ GLORIA K. BYERS. . NOTARY PU6UtC 8) State 0 County of . . Wyoming Uncal" l15 2007 J My Commlss1on expires Sap · ___ ¡.