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HomeMy WebLinkAbout950490MORTGAGE DEED WITH RELEASE OF HOMESTEAD °°"23 Shauna Crittenden and Kenneth W. Crittenden, Mortgagor(s), of Lincoln County, State of Wyoming and Norman Earl Newbold and Janet Irene Newbold, Mortgagor(s), of to secure payment of fourteen thousand four hundred and no /100 Dollars ($14,400.00) due September 1, 2019 with interest from August 28, 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 163 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 28th day of August. 2009 RECEIVED 11/10/2009 at 4:28 PM RECEIVING 950490 BOOK: 735 PAGE: 523 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY STATE OF WYOMING ss. COUNTY OF LINCOLN On this 28th day of August, 2009 before me personally appeared Shauna Crittenden and Kenneth W. Crittenden, 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 t 'Do MORTGAGOR(S): 1 1 re. NANCY J. BROWN NOTARY PUBLIC STATE OF COUNTY OF i!l: WYOMING LINCOLN �.,1 -,rJZ Dld OF 2 MY COMMISSION EXPIRES NOT ARY PUBLI PL t 5 County, State of Utah, STATE OF UTAH ss. COUNTY OF a v, S WITNESS my hand and seal. My commission expires 22 t NOTARY PUBLIC SEAN TREASE 1344 West 4676 South Rlvardpta, Utah 64405 My Commission Expiq Mlrch 29, 2916 TAT' .OF AH MORTGAGOR(S): NOTARY P PAGE 2 OF 2 -L n an for said County and tate 2 -A On this /5 day of o 2009 before me personally appeared Norman Earl Newbold and Janet Irene Newbold, 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.