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HomeMy WebLinkAbout965028RECEIVED 6/1 V.o Tat 4:24 PM RECEIVING 965028 BOOK: 787 PAGE: 619 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY MORTGAGE DEED WITH RELEASE OF HOMESTEAD GREGORY J. SCHMIDT of Salt Lake County, Utah, MATTHEW N. WALKER of Salt Lake County, Utah, and THOMAS M. JOHNSON of Utah County, Utah, Mortgagors, to secure payments of ONE HUNDRED FIFTY THOUSAND and 00 /100 DOLLARS ($150,000.00), due August 1, 2013, with interest from June 6, 2012, at the rate of FIVE percent per annum payable, evidenced by Promissory Note of even date herewith, in ONE installment of ONE HUNDRED FIFTY THOUSAND and 00 /100 DOLLARS ($150,000.00), plus applicable interest, do hereby mortgage and warrant to M. RICHARD WALKER and KATHLEEN H. WALKER, Mortgagee of Salt Lake County, State of Utah, the following described parcels of real property in the County of LINCOLN, State of WYOMING: See Exhibit "A" attached hereto. Mortgagors agrees to pay the indebtedness according to the terms and conditions of that certain Promissory Note hereinabove described, executed by Mortgagor(s) to M. RICHARD WALKER and KATHLEEN H. WALKER, and during the life of this mortgage to pay all taxes and assessments against the premise. If Mortgagor(s) fails 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 the 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 Five Percent (5 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 is hereunder, Mortgagor(s) hereby assigns 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 authorizes 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 This Document is being recorded by Rocky Mountain Title Agency of Lincoln County as a COURTESY only 00619 1 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 therefore, 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), or 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 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 AND WAIVE all rights under and by virtue of the homestead exemption laws of the State of Wyoming. Dated this 6th day of June, 2012. w GREGO J. CHMIDT, as to his undivided 50% intere as tenant in common MATTHEW N. WALKER, as to his undivided 25% interest as tenant in common THOMAS M. JOHNSON, as to his undivided 25% interest as tenant in common 00620 2 STATE OF UTAH COUNTY OF SALT LAKE On this day of June, 2012, before me personally appeared GREGORY J. SCHMIDT, known to me to be the persons(s) described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of the right of homestead. My commission expires: 9--)3 My commission expires: j "11-1 STATE OF UTAH SS. COUNTY OF SALT LAKE My commission expires: 9 1 3 NOTARY PUBLIC in an for said County and State 6W,, Q N Loot fi Cornmi5sinnit57 My STATE OF UTAH SS. COUNTY OF SALT LAKE On this L ay of JUNE, 2012, before me personally appeared MATTHEW N. WALKER known to me to be the persons(s) described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of the right of homestead. NOTARY PUBLIC in an for said County and State ear4 r r 9 m Januiwy On this --day of JUNE, 2012, before me personally appeared THOMAS M. JOHNSON known to me to be the persons(s) described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of the right of homestead. NOTARY PUBLIC in an for said County and State bw rzeey i ""*U t g itI RBARI� v��_E Commission dt5 7O 4 u:amr.u;ri4D2 3 StatO 0621 3 LEGAL DESCRIPTIONS OF PROPERTY EXHIBIT A The following parcels of real property located in the Town of Star Valley Ranch, County of Lincoln, state of Wyoming, to wit: Parcel 1: Lot 62, Plat 6, Star Valley Ranch as platted and recorded in the Official Records of Lincoln County, Wyoming. Parcel 2: Parcel Id. No. 35183040801300 Lot 63, Plat 6, Star Valley Ranch as platted and recorded in the Official Records of Lincoln County, Wyoming. Parcel Id. No. 35183040800500 00 62 2 4