HomeMy WebLinkAbout934374
When recorded mail to:
TNF, LLC, SERIES 1
6600 W. CHARLESTON BLVD #120
LAS VEGAS, NV 89146
ATTN: PHIL SHELLHORN
RECEIVED 10/26/2007 at 12:48 PM
RECEIVING # 934374
BOOK: 676 PAGE: 782
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
REAL ESTATE MORTGAGE
OOO,7Sð
FOR VALUE RECEIVED, AMIR ALGAAR and MARSHA ALGAAR, the "Mortgagors", do hereby grant,
bargain, sell and convey unto TNF, LLC, SERIES 1 collectively the "Mortgagees", the following described
premises, in LincolnCounty, Wyoming:
LOT FOUR (4) OF STAR VALLEY RANCH PLAT FOUR (4) AS RECORDED AUGUST 19,1985 AT
DOCUMENT NUMBER 637328 AND MAP NUMBER 316 IN THE OFFICE OF THE CLERK, LINCOLN
COUNTY, WYOMING.
TO HAVE AND TO HOLD the said premises, with their appurtenances, unto the said Mortgagees, their heirs
and assigns forever.
This conveyance is intended as a mortgage to secure the Promissory Note dated OCTOBER 25,2007 , in the
amount of $300,000.00, plus interest payable to the Mortgagee, with final payment due OCTOBER 24, 2012,
and providing for acceleration of the due date of the principal for default in the payment of interest or any
installment of principal, and providing for a reasonable attorney's fee in case of suit of action.
The Mortgagors covenant and agree with the Mortgagees as follows: That they are the owners in fee simple of
the above described premises and that they are free from all encumbrances except as provided on the
conveyance deed to them, and except this Mortgage.
That they will pay the indebtedness hereby secured promptly, according to the terms of said Promissory Note.
That they will pay all taxes, liens and assessments of any nature hereafter levied or imposed, or becoming
payable, upon said premises not later than the twentieth day before delinquency.
If the Mortgagors shall fail to pay any such tax or lien, the Mortgagees may pay the same, and all payments by
the Mortgagees for any such purpose shall be added to the indebtedness hereby secured, and shall be repayable
on demand, with interest at the rate of eighteen percent (18%) per annum until paid.
For the purpose of further securing said indebtedness and performance of the convenants herein contained, the
Mortgagors hereby sell and assign to the Mortgagees any and all rentals accruing, or to accrue on said premises,
during the life of this Mortgage.
If the said Mortgagors shall payor cause to be paid all moneys which may become due upon said Promissory
Note and shall otherwise comply with the terms and conditions hereof, this conveyance shall be void; but in
case default shall be made in the payment of the indebtness hereby herein contained, then the Mortgagees or
their assigns, at their option may declare the entire indebtedness hereby secured immediately due and payable,
and foreclose this Mortgage and cause said mortgaged premises to be sold in the manner provided by law, and
out of the moneys arising from such sale retain principal and interest together with any sums advanced as
provided herein, with interest as aforesaid, together with the costs and charges of such foreclosure suit and sale,
including such sums as the court may adjudge reasonable as an attorney's fee to be allowed the plaintiff, and the
overplus, if any there be, pay over to the Mortgagors, their heirs and assigns.
~~
Dated this
MARSHA ALGAAR 0007~3
~~:;f~~~ ) :~S
\ b - Z1.D -01-- ' personally appeared before me AMIR ALGAAR and MARSHA ALGAAR ,
e 'thin inst , w. duly acknowledged to me that they executed the same.
otary Public
Residing: L\V'\Q..Ò\n..
Expires: 2. -l.\-c '\
CHERYL A. JONES - NOTARY PUBLIC
County of Stale of
Uncoln Wyoming
My Commission expires Feb. 4, 2009