HomeMy WebLinkAbout950485MORTGAGE DEED WITH RELEASE OF HOMESTEAD `O 518
Patricia J. Bean and Edward W. Bean, Mortgagor(s), of Riverside County, State of California, to secure
payment of fourteen thousand four hundred and no /100 Dollars ($14,400.00) due September 1, 2019 with
interest from August 19, 2009 at the rate of seven point nine per cent (7.9 per annum payable monthly,
evidenced by Promissory Note of even date herewith, in monthly installments of one hundred seventy -three
and 95/100 Dollars ($173.95) each, including interest, commencing on the 1st day of October, 2009 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
Star Valley Ranch RV Park Plat 1 Lot 230
Mortgagor(s) agree(s) 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(s) 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(s) 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 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(s) 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).
MORTGAGOR(S) HEREBY RELINQUISH(ES) AND WAIVE(ES) all rights under and by virtue of the
homestead exemption laws of the State of Wyoming.
Dated this 19th day of August, 2009
RECEIVED 11/10/2009 at 4:17 PM
RECEIVING 950485
BOOK: 735 PAGE: 518
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
STATE OF WYOMING
ss.
COUNTY OF LINCOLN
On this 19th day of August, 2009 before me personally appeared Patricia J. Bean and Edward W. Bean, known
to me to be the person(s) described in and who executed the foregoing instrument, and acknowledged that they
executed the same as their free act and deed, including the release and waiver of the right of homestead.
WITNESS my hand and seal.
My commission expires
MORTGAGOR(S):
NOTARY PUB
NANCY J. BROWN NOTARY PUBLIC
COUNTY OF eti� STATE OF
LINCOLN WYOMING
MY COMMISSION EXPIRES (0(25120(0