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HomeMy WebLinkAbout9553986011019363 MORTGAGE 4 Roy Boles and Patsy Boles, Husband and Wife, of PO Box 4062 Paso Robles, CA 93447, (herein collectively called `MORTGAGOR to secure the payment of $45,836.50, with interest thereon, as provided in and evidenced by a promissory note of even date herewith (the ultimate maturity date of which is September 1, 2020) and all renewals, modification and extensions thereof, do hereby mortgage unto Harold D. Andrews and Donna M. Andrews of 497 Toms Canyon Road Auburn, WY 83111 (herein called "MORTGAGEE the following described real property, situate in the County of Lincoln, State of WY, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming, to -wit: That part of the Northwest Quarter Northeast Quarter of Section 21, Township 32 North Range 119 West of the 6 P.M., Lincoln County, Wyoming, being part of those tracts of record in the Office of the Clerk of Lincoln County in Book 259PR on page 364, in Book 140PR on page 340 and all of that tract of record in Book 357PR on page 533, described as follows: Beginning at the Northeast corner of said Northwest Quarter Northeast Quarter found as described in the Corner of Record filed in said Office; thence South 89 °54.0' West, 470.00 feet, along the North line of said Northwest Quarter Northeast Quarter, to a point; thence South 00 °08.4' West, 627.72 feet, parallel with the East line of said Northwest Quarter Northeast Quarter, to a point on the North line of that tract of record in said Office in Book 312PR on page 357; thence North 89 °42.7' East, 327.84 feet, along the North line of said tract in Book 312, to the Northeast bathey of said tract; thence North 00 °01.6' East, 405.64 feet, along the West line of those tracts of record in said Office in Book 312PR on page 359, paragraph No. 1, in Book 356PR on page 730 and in Book 146PR on page 271, to the Northwest corner of said tract in Book 146; thence North 89 °54.0' East, 142.97 feet, along the North line of said tract in Book 146, to a point on the East line of said Northwest Quarter Northeast Quarter; thence North 00 °08.4' East, 221.00 feet, along said East line, to the Corner of Beginning. 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 MORTGAGEE 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 hereby 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 MORTGAGEE'S legal representatives and assigns, may proceed by advertisement 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. RECEIVED 9/9/2010 at 3:25 PM RECEIVING 955398 BOOK: 753 PAGE: 400 JEANNE WAGNER together with all costs of sale including reasonable attorney's fees. If the proceeds of the foreclosure sale are insufficient to 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. Witn•ur hands this day of September, 2010, oy Bole State of Wyoming County of Lincoln This Instrument was acknowledged before me on By Roy Boles and Patsy Boles. JILL H. LARSON County of Lincoln NOTARY PUBLIC State of Wyoming My Commission; Expires ires June 20, 2011 (Sign Patsy Boles 7 day ofSeptember, 2010 r re of Notarial Officer) My Commission Expires: p 02o (:,.."47)1';.4401.