HomeMy WebLinkAbout871427Star Valley Ranch RV Park Plat 1 Lot 377 as platted and recorded
0111.11014C 001,
in the Official Records of Lincoln County, Wyoming.
1'kIs. Mortgage
3K astal. muse
f r
des c:
MORTGAGE DEED WITH RELEASE OF iIOMESTEAD
George W. °,Davis and Mary J. Davis
County, State of Utah secure payment o� Mortgagor(s), of Salt Lake
.1101
1 (1 s o n n n) duo Dollars
a o rate b ile s t 1 5 7,0 with interest from ,711 1 y 2 4 24, 7 f10 0
of even date herewith; in Monthly installments of 0 per cent per One Hundred hh Th i rty monthly, i colt evidenced Dollars Sy Promissory Note
each; including interest, cori mencing on the 19t h day of SF t e and 76/100 3 8 7 6
and continuing on the same day of each month thereafter, does hereby mortgage and warrant to LEISURE VALL NC .,,0'
a Nevada 'Corporation,' Mortgagee, of Lincoln County, Wyoming, the following described real property In the County of
Lincoln, State of Wyoming:
rtgagor(s) agree to pay the indebtedness according to the terms and conditions of that Promissory Note hereinabovo
executed by Mortgagors) to LEISURE VALLEY, INC., and during the life of this mortgage to pay all taxes and
menta against the premises. If Mortgagor(s) fail 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 rata;
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 Notc, 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 attorneys' fees in an
amount equal to Ten Percent (10 70) of the indebtedness remaining unpaid at the time of such sale, and the same shall be taxed
its 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 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 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
therefdr, 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 salt, 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 parts application without notice, notice being hcrcby waived and
appointment of a receiver upon such application being hcrcby consented to by the Mortgagor(s).
MORTGAGOR(S) IICREt1Y RLLINQUISII AND WAIVE all rights under and by virtue of the homestead exemption
laws of the State of Wyoming.
jr '1 "`d
V
STATE OP WYOMING
DATED this 2 4 thlay of
COUNTY OP LINCOLN
County of
Lincoln
My Commission
as:
BRADLEY J. STEWART NOTARY PUBLIC
My Commission Expires:
Stair of
Wyoming
July.
On this 24th day of
George W. Davis
to b,e the person(s) described in and who executed the
same as their free act and deed, including
WITNESS my hand and seal.
1Q00
MORT 2 OR(S):
r
avis
I3OOI '1" PR PAGE 4 7 I
J l y 2000, 1121 before me personally appeared
and Mary ,T. Davis known tome
foregoing instrument and acknowledged that they executed the
the release and waiver of the right of homestead.
(AC ,t om J r 7
4
NOTARY PUBLIC( and for said
Count and State
.Recorded at the Request of:
LEISURE VALLEY, INC.