HomeMy WebLinkAbout871435MORTGAGE DEED WITH RELEASE OF HOMESTEAD
Mortgagor(s), of Teton County, State of Wyoming to secure payment of
One Hundred Sixty -two thousand five hundred Dollars 162,500.00 due November 15,
2030 with interest from November 1, 2000 at the rate of 8 per cent per annum
payable monthly, evidenced by Promissory Note of even date herewith, in monthly installments of One thousand one
hundred ninety -two dollars and 37/100 Dollars 1192.37 each, including interest,
commencing on the 15th day of December 2000, and continuing on the same
day of each month thereafter, does 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:
Lot 62 of Star Valley Ranch Plat 6
Mortgagor(s) agree 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 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
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 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 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 th
Dated this day of 61-
LOCI(i5 PR PAGE 4 8 J
WITNES'�
-runt of
_incoln
STATE OF WYOMING
ss.
COUNTY OF LINCOLN
On this 1 day of
-'((1 K 2 L
O
My Commission Expires 0643 2002
My commission expires
Mark S. Rycz
utue of the, hoi'tieste
This Mort gage
Sig net Isxt &Accs
MORTGAGORS(S) HEREBY RELINQUISH AND WAIVE all rights under
exemption laws of the State of Wyoming.
MORTGAGORS:
t LC'-' 2000, before me personally appeared
and known to me to be the
person(s) described in and who executed the foregoing instrument, and acknowledged that k 0 executed the same as
Lti t S free act and deed, including the release and waiver of the right of homestead.
A ctlt..fte
200&-
NOTARY PUBLIC i
r said County and State