HomeMy WebLinkAbout949712REAL ESTATE MORTGAGE 00616
r.
FOR VALUE RECEIVED, Lawrence F. Read and Mary L. Read, Trustees of the Read Family Trust Dated
June 19, 1989, the "Mortgagors", do hereby grant, bargain, sell and convey unto James Boyd Astle, Trustee of
The June N. Astle Revocable Trust Dated the 7th day of April, 1998, collectively the "Mortgagees", the
following described premises, in Lincoln County, Wyoming:
That part of the SW'/4 SW'/4 of Section 29, T34N RI 18W, Lincoln County, Wyoming, being all of that tract of
record in the office of the Clerk of Lincoln County, being part of that tract of record in said Office in Book 413
Photostatic Records on page 554, described as follows:
Beginning at the southeast corner of said SE'/4 SW'/4;
Thence N90°-00'-00"W, 706.46 feet, along the south line of said SE'/4 SW'/4, to a pipe;
Thence N00°-11'-33"W, 980.11 feet, along the west line of said tract in Book 413, to a point;
Thence N89°-48'-27"E, 713.45 feet, to a point in the east line of said SE'/4 SW'/4;
Thence SO0°-12'-55"W, 982.50 feet, along said east line, to the Corner of Beginning.
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 1, 2009, in the amount
of $50,000.00, payable to the Mortgagee, with final payment due October 1, 2011, 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 covenants 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.
RECEIVED 9/25/2009 at 2:57 PM
RECEIVING # 949712
BOOK: 732 PAGE: 616
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
0V617
If the said Mortgagors shall pay or 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 October 1, 2009. 1
Lawrence F. Read, Trustee
X.GL
Mary L. fflead, Trustee
State of Wyoming)
County of Lincoln) :ss
On 1 7- , personally appeared before me Lawrence F. Read and Mary L. Read, Trustees of
the Read Family Trust Dated June 19, 1989, signers of the within instrument, who duly acknowledged to me
that they executed the same.
-7' 1
ublic
Not :18i.
ResExpires: