HomeMy WebLinkAbout873452BOOK 4 PR PAGE__..__. J, 2 4
MORTGAGE DEED WITH RE
8 734 L AS OF HOMES1y6 2 2
P111 2: 11
JEANNE
Carl Brown & Kelly Bass
Mortgagor(s), of Teton County, State of Wyoming , to secure payment of
-Twenty three thousand four hundred dollars 00/100 Dollars ($_23,400.00 due April 15,
2011 , with interest from 4/15/01 at the rate of 10 per cent per annum payable
monthly, evidenced by Promissory Note of even date herewith, in monthly installments of Three hundred nine dollars
and 23/100 Dollars ($309.23 ) each, including interest, commencing on the
15th day of May , 2001, and continuin Me4g of each month thereafter,
do es hereby mortgage and warrant to LEISURE VALLEY, INC., aye rtgagee, of Lincoln
County, Wyoming, the following described real property in the Court n, State of Wy in
Star Valley Ranch Plat 22 Lot 16 ''h13yJ Moth gage
Mortgagor(s) agree- to pay the indebtedness according to the terms and c 'ons o~t at certain Pro ry Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the life of thi 11 s 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 of foreclosure 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 of foreclosure 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 of Mortgagor(s),
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 RELINQUISH- AND WAIVE all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
Dated this 3-3 - o I
day of '2001,
STATE OF WYOMING, )
1 ) ss.
COUNTY OF L )
MORTGAGORS:
C~
1WM
Ow this day of 2001, before me personally appeared
Ow 13e0 wN and fc~ ASS known to me to be the
person(s) described in and who executed the foregoing instrument, and acknowledged that executed the same as
free act and deed, including the release and waiver of the right of homestead.
WITNESS my hand and seal.
DAVID B. M=NOTARY County Teton 0 N ARY PUBLIC in an or said County and State
My Com
mMy commission expires
LINCOLN RECEIVED CLERK