HomeMy WebLinkAbout920718
/
Ii
000104
MORTGAGE
William Vogt, of PO Box 1175 Afton, WY 83110, (herein collectively called
'MORTGAGOR"), to secure the payment of $125,000.00, with interest thereon, as
provided in and evidenced by a promissory note of even date herewith (the ultimate
maturity date of which is June 12, 2011) and all renewals, modification and extensions
thereof, do hereby mortgage unto Lex 1. Stones Trustee ofthe Franklin W. Stones, Jr.
and Audrey M. Stones Revocable Trust dated December 20, 1988, of
, (herein
called "MORTGAGEE"), the following described real property, situate in the County of
Lincoln, State ofWY, hereby releasing and waiving all rights under and by virtue ofthe
homestead exemption laws of the State of Wyoming, to-wit:
Beginning at a point which is 6 rods North From the Southwest Corner ofthe Lot 2 in
Block 29 in the Town of ACton, Lincoln County, Wyoming, and running thence East 10
rods;
thence North 4 rods;
thence West 10 rods;
thence South 4 rods to the point of beginning.
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 ofthe
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 sell the Property,
and out of the proceeds of such sale, MORTGAGEE shall pay all sums due h~reunder,
together with all costs of sale including reasonable attorney's fees. Ifthe proceeds of the
foreclosure sale are insufficient to pay the indebtedness hereby secured and foreclosure
costs, 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 parties claiming, by, through or under
0920718
State of Wyoming
County of Lincoln
Sworn to, subscribed and acknowledged before me this f7) 1 day of
by William V ogt
who is personally known to me or who has produced
~ Ll.d~
No Public:
My commission expires: b' ~ p - f)... II 7
JIll. H. LARSON· . Ä
OOUNTY OF &\ STPJE OF
UNCOlN _ W'rUMING
MY COMMISSION EXPIRES JUNE 20 2007
~
as identification.
000105
20 0 c,