HomeMy WebLinkAbout873454OIL :11 PR PAGE t Z
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Du 1 873454 MORTGAGE DEED WITH RELEASE OF HOMESTE~ANY 22 P11 2. 13
JEANNE 'ViiGNEf'
John W Wickel KEMMu En- tsdYi'1-M NG
Mortgagor(s), of Lincoln County, State of Wyoming , to secure payment of One
hundred ninety-seven thousand five hundred dollars and 00/ 100 Dollars 197,500-00 due January
2, 2031 with interest from 1/2/01 at the rate of 7.5 per cent per annum payable
monthly, evidenced by Promissory Note of even date herewith, in monthly installments of one thousand three
hundred eighty dollars and 95/ 100 Dollars 1,380.95 ) each, including interest, commencing
on the 2nd day of February_, 2001, 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:
"See Exhibit "A" attached hereto"
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 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 N C daYof 2001.
STATE OF WYOMING )
ss.
COUNTY OF LINCOLN )
On this Z- day of =,fC `PLC V cT 2006, before
-N and
person(s) described in and who executed the foregoing instrument, and acknowledged that _
free act and deed, including the release and waiver of the right of homestead.
NANCY J. BROWN - NOTARY PUBLIC
County of Omar
Lincoln 0 % - -
My Commission Expires 06.13.2002
My
me
personally appeared
known to me to be the
executed the same as
NOTARY PUBLI inia for said County and State
CLERK
A
h
4 54
EXHIBIT "A"
TO MORTGAGE DEED WITH RELEASE OF HOMESTEAD
Legal Description
028
All that certain tract, lot, piece, and parcel of land situate in the County of Lincoln, State of
Wyoming, described as follows:
A parcel of land, being the North 40 acres of Homestead Entry Survey 65, Section
30, Township 35 North, Range 118 West, of the Sixth Principal Meridian, Wyoming,
being more particularly described as follows:
Beginning at Corner I of said Homestead Entry 65; thence East 20.00 chains to
Corner 2 of Homestead Entry 65; thence South 20.00 chains to Corner 3 of
Homestead Entry 65; thence West 20.00 chains; thence North 20.00 chains to the
point of beginning.
Together with four water taps and all rights to receive water to the foregoing
described parcel of Real Property through the four water taps described in Paragraph
1 (A) of that certain document entitled "Agreement to Provide Water Taps" (the
"Agreement"), dated August 10, 1998, entered into by and between the STAR
VALLEY RANCH ASSOCIATION, a Wyoming non-profit Corporation, and
LEISURE VALLEY, INC.,a Nevada Corporation, which Agreement was recorded
in the Real Estate Records of Lincoln County, Wyoming, as Instrument Number
852729 in Book 416PR, at Pages 241-246, which water and four water taps shall be
and are subject to the terms and conditions set forth in Paragraph 2 of the aforesaid
Agreement, as well as any other terms and conditions contained therein.
RESERVING THEREFROM all rights, title, and interest in and to any and all
mineral rights appertaining thereto.
Exhibit "A" to Mortgage