HomeMy WebLinkAbout926378
000394
CORRECTIVE
MORTGAGE DEED WITH RELEASE OF HOMESTEAD
David A. Palmer and Deanna E. Palmer. Mortgagor(s), of San Diee:o County, State of California ,to secure
payment of Twenty-four thousand and no/l00 Dollars ($ 24.000.00 ), due Seutember 1. 2015 ,with interest from
Aue:ust 16. 2005 at the rate of 10 (ten) per cent per annum payable monthly, evidenced by Promissory Note of even
date herewith, in monthly installments of Three hundred seventeen and 16/100 Dollars ($ 317.16 ) each, including
interest, commencing on the pI day of October ,2005, and continuing on the same day of each month thereafter,
do(es) hereby mortgage and warrant to LEISURE VALLEY, INC., a Nevada Corporation, Mortgagee, of Lincoln County,
Wyoming, the following described real property in the County of Lincoln, State of Wyoming:
Star Valley Ranch RV Park Plat 2 Stage 2 Lot 556
This document corrects the legal description of the mortgage recorded 11-8-2006 at Book 639 Page 659
Mortgagor(s) agree___ to pay the indebtedness according to the terms and conditions of that certain Promissory Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the life of this mortgage to pay all taxes and assessments against
the premises. If Mortgagor(s) fail_ to pay such taxes or assessments, Mortgagee may pay the same, and all sums paid by Mortgagee
for such purpose shall be added to and considered as a part of the indebtedness and shall draw interest at the same rate.
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 hereof or under the aforesaid Promissory Note, 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 premises as
provided by the statutes of the State of Wyoming, or by an action in equity. This will be Mortgagee's sole remedy against Mortgagor(s)
in case of default by Mortgagor(s). Out of the proceeds of any foreclosure the Mortgagee shall retain or receive all sums due to it hereunder
and costs offoreclosure and sale, including attorney fees in an amount equal to Ten Percent (10%) of the indebtedness remaining unpaid
at the time of such sale, and the same shall be taxed as costs in any equitable action brought to foreclose this mortgage.
To fully assure Mortgagee the benefits of the security interest in the premises granted to it hereunder, Mortgagor(s) hereby assign_
to Mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with Mortgagor's
consent. If default occurs in any of the the covenants and agreements herein contained or under the aforesaid Promissory Note, whether
or not Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize_ Mortgagee to collect the rents
from the premises and to apply the same to the payments on the indebtedness secured hereby until such default is remedied.
In the event offoreclosure of this mortgage upon default, Mortgagee shall be entitled to the possession and enjoyment of the premises
and rents and profits thereof from the time of such default and during the pendency of foreclosure proceedings and period of redemption,
if any. If Mortgagor(s) shall fail to surrender such possession to Mortgagee promptly upon its request therefor, Mortgagee may compel
delivery thereof by ejectment action or other civil proceedings appropriate for that purpose. Furthermore, 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),
or the value of the premises or the insufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, Mortgagee shall
be entitled to receive from the premises the rents, issues and profits thereof from the time of default to the expiration of any redemptive
period provided by law. A receiver may be appointed 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 RELINQUlSH_ AND WAIVE_all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
Dated this
/9 Zlf
day of
~/Wt.t#.y
I
, æ96:- :Lo07
RECEIVED 1/29/2007 at 1:47PM
RECEIVING # 926378
BOOK: 647 PAGE: 394
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
u:¡:õW~
~E~
CA Ll/'ð (LJJ; .A-
STATE OF WYOMING )
6AN DIe (~ss.
COUNTY OF EINCOLN- )
.;1Jo () 7
On thisLf-day of "':¡-,4~k'#f- ,~before me personally appeared David A. Palmer and Deanna
E. Palmer known to me to be the person(s) descnbed ill and who executed the foregoillg illstrument, and acknowledged
that ~ executed the same as their free act and deed, including the release and waiver of the right of homestead.
WITNESS my hand and seal.
{.
~
7I%~p(/ /Øj, ¡d/~4~
NOTARY PUBræt in and for said County and State