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HomeMy WebLinkAbout924221 / "'I 000655 ¡l MORTGAGE DEED WITH RELEASE OF HOl\1ESTEAD Phillip C. Bode and Janet Bode Mortgagor(s), of Lincoln County, State of WTOD1Ïn2:, to secure payment of _twenty three thousand and no/100_DoBars ($ 23.000.00 ), due October 19,2015 ,with interest from Seøtcmbc:r 19. 2005 _at the rate of 10 -Pð' cent per annum payable monthly, evidenced by Promissory Note of even date herewith, in monthly installments of Three hundred tJu:ft dollars and 95/100 DoBars ($ 303.95 ) each, including interest, commencing on the 19th day of October ,2005, and continuing on the same day of each month thereafter, dO--ä- hereby mortgage and warrant to LEISURE VALLEY, INC., a Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the following described real property in the County ofLinco1n, State of Wyoming: Star Valley Ranch RV Park PIat 2 Phase 2 Lot 501 Mortgagor(s) agree5_ to pay the indebtedness according to the tmns and conditions of that certain Promissory Note hereinabove described, execotal by MortgagOI(s) to Leisme vaney, Inc., and during the life of this mortgage to pay an taxes and assessments against the premises. IfMortgagor(s) fdil_ to pay such taxes or assessments, Mortgagee may pay the same, and an sums paid by Mortgagee fur such purpose shaJl be added to and considered as a part of the indebædDess and shaJl draw inœrest at the same rate. If defàu1t occurs in the payment of the indebtedness or in the payment of any installment thereof, or if defàu1t ocems in any of the covenants and agreements hereof or under the aforesaid Promissory Note, then the whole indebtedness shaJl, 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 ofWyoming, or by an action in equity. This will be Mortgagee's sole remedy agaiostMortgagor(s) in case ofdef.wlt by Mortgagor(s). Out of the proceeds of any foreclosure the Mortgagee shaJl retain or receive an sums due to it hueunder and costs of fureclosure and sale, including attorney fees in an amount equal to Ten Percent (10%) of the indebtedness fI"In"'inmg unpaid at the time of such sale, and the same shaJl be tIxed as costs in any equitable action brought to forec1ose this mortgage. To fuDy assme Mortgagee thebendits of the security interest in the premises granted to ithemmder, Mortgagor(s) hereby assign_ to Mortgagee an rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with Mortgagor's consent If defàu1t occurs in any of the the covenants and agreements herein contained or under the aforesaid Promissory Note, whether or not Mortgagee elects to forec1ose this mortgage on accountthereof, Mortgagor(s) hereby authorize_Mortgagee to coßectthe rents ftom the premises and to apply the same to the payments on the indebtedness secured hereby until such defàu1t is remedied. In the event of foreclosure of this mortgage upon dd'a.u1t, Mortgagee shaJl be entitled to the possession and enjoyment of the premises and rents and profits thereofftom the time of such def.wlt and during the peodeocy of forec1osure proceedings and period. of mIm1ption, if any. IfMortgagor(s) shaJl fdil to smrender such possession to Mortgagee lIIuwpdy upon its request therefur, Mortgagee may compel delivery thereofby ejectment action or other civil proceedings appropriatr fur that pmpose. Fwthermore, 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 ofMortgagor(s), the value of the premises or the insufIiciency thereof to discharge the indebtedness and costs of fureclosure and sale, Mortgagee shaJl be entitled to receive ftom the premises the rents, issues and profits thereofftom the time of defàu1t to the expiration of any redemptive period provided by law. A receiver may be appointal by any court of competent jurisdiction upon ex parte application without notice, notice being hereby waived and appointment of a receiver upon such application being hereby consented to by the Mortgagor(s). MORTGAGORS(S) HEREBY RELINQUISHES AND WAIVES all rights under and by virtue of the homestead exemption laws of the State of Wyoming. Dated this 19th day of _September_, 2005. MORTGAGORS: ~~ e/AJ c:r.1: e-n&-- STATE OF WYOMING ) ) ss. COUNTY OF LINCOLN ) On this_19th day of _September _,2005, before me personally appeared Phillip C. Bode and Janet Bode known to me to be the person(s) described in and who executed the foregoing insttument, and acknowledged that _they_executed the same as _their free act and deed, including the release and waiver of the right of homestead. WITNESS my hand and seal. My commission expires 0(;;) 5( Q'ð ~~~saœ ..~, BROWN-NOTARY PlIeuc CaunlyGl _ SIaIe ~ ...... - ~ ,.., t' - - .....ws-2006 ~': RECEIVED 11/812006 at 3:45 PM RECEIVING # 924221 BOOK: 639 PAGE: 655 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ':: ~:t~~~;~~;m~~ill~¡j . ."