HomeMy WebLinkAbout948838RECEIVING # 948838
BOOK: 729 PAGE: 452
JEANNE WAGNER
MORTGAGE LINCOLN COUNTY CLERK, KEMMERER, WY
Bruce M. Davis and Betty B. Davis, of P.O. Box 946, Afton, WY 83110, (herein
collectively called "MORTGAGOR"), to secure the payment of $65,000.00, with interest
hereon, as provided in and evidenced by a promissory note of even date herewith and all
renewals, modification and extensions thereof, do hereby mortgage unto Joseph Burton and
Donna Burton, of 325 Hansen Avenue, Evanston, Wyoming 82930, (herein called
"MORTGAGEE"), the following described real property, situate in the county of Lincoln,
State of Wyoming, hereby releasing and waiving all rights under and by virtue of the
homestead exemption laws of the State of Wyoming, to-wit:
E/2 N/2 SE/4 SE/4 of Section 10, T32N, RI 19W.
MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes, assessments
and charges levied against the property, as the same become due and payable; to secure,
maintain and furnish MORTGAGEE evidence thereof, insurance with an insurance carrier or
carriers acceptable to MORTGAGEE, covering the insurance improvements on the Property
against loss by fire and earthquakes, with extended coverage, in an amount not less than the
unpaid balance of the debt hereby secured, or the insurable value (replacement cost) of such
improvements, whichever is less, which insurance shall contain an appropriate loss payable
provision protecting MORTGAGOR and MORTAGEGEE as their respective interests may
appear from time to time. In the event MORTGAGOR fails to pay such taxes or
assessments, or fails to keep and maintain such insurance as herein provided, MORTGAGEE
may pay such taxes and assessments and may secure and pay for such insurance, and all
sums so paid shall be added to and considered a part of the indebtedness hereby secured and
shall draw interest at the same rate.
In case default shall be made in the payment of the above sums herby secured, or in the
payment of the interest thereon, or any part of such principal or interest, when the same shall
become due; or in case of default shall be made in any of the covenants and agreements
thereof, or in the event MORTGAGOR sells or conveys the Property, or any part thereof, or
any interest therein, without the prior written consent of the MORTGAGEE first had and
obtained, then the whole indebtedness hereby secured, with interest thereon, shall become
due and payable, at the option of MORTGAGEE, and sale/or as otherwise authorized by
governing law, to foreclose on and sell the Property, and out of the proceeds of such sale
MORTGAGEE shall pay all sums due hereunder, together with all costs of sale including
reasonable attorney's fees. If the proceeds of the foreclosure sale are insufficient too pay the
indebtedness hereby secured and foreclosure costs, MORTGAGEE shall be entitled to a
deficiency judgment.
In the event of any default whereby the right of foreclosure occurs hereunder,
MORTGAGEE shall at once become entitled to exclusive possession, use and enjoyment of
the Property, and to all rents, issues and profits from the accruing of any such rights and
during the pendency of the foreclosure proceedings, and the period of redemption, if any
there be.
MORTGAGOR warrants title to the Property as to parties claiming, by, through or under the
MORTGAGOR only.
WITNESS our hands this a day of J q
2009.
Bruce M. Davis Betty 14. Davis
State of Wyoming )
)ss
County of Lincoln )
The foregoing instrument was acknowledged before me by Bruce M. Davis and Betty B.
Davis this -79 *k day of 6j y, -c-- , 2009.
Witness my hand and official seal.
Notary Public
My commission expires:
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cwaA ANDERSON
Notary Public
Lincoln Eountt
Wyaming
My Commission Expires