HomeMy WebLinkAbout871437Star Valley Ranch RV Park Plat 1 2nd Filing Phase 1 Stage 5 Lot 2014
RELEASE op
MORTGAGE DECD WITTI RELEASE OF HOMESTEAD
Ki th A. 'WPndy N. 1 o Mortgagor(s), of Park
County, State of •Cnl nracdn to secure the payment of Pi ght The ns ncl .fnP linndzed r, ,Da f t
(S 8, 100.00 duc Nnvemhpr 15, 2010 with interest from Nnvemher 15 2n00
at the rate of Ten per cent per annum payable monthly, evidenced by Promissory Note
of even date herewith, in monthly installments of One Hundred Seven 04/100 Dollars (S 107.04
each, including interest, commencing on the 1 5th day of November 2000 y�$
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:
gagor(s) agree to pay the indebtedness according to the terms and conditions of that Promissory Note hereinabove
ed, 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 Mortgagors) 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 (1O%) of the indebtedness remaining unpaid at the time of such sale, and the same shall be taxed
his costa in any equitable action brought to foreclose this mortgage.
To fully assure Mortgagee the benefits of the security interest in ac premises granted to it hereunder, Mortgagors)
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 Mortgagors) 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 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) IIERL!I3Y RLLINQUISI I AND WAIVE all rights under and by virtue of the homestead exemption
laws of the State of Wyoming.
DATED this a of 574 ZOUc)
'459 4 87
,O C 1 cal✓
7 i<43
STATO 01 It;4G
es:
COUNTY OF LINCOLN
On this day of
J� /z �1 �rr bcfore me personally appeared
1CP. ln and z lac iy,,.L 6 known to me
to he the person(s) described in and who executed the foregoing instrumentyand acknowledged that executed the
free act and decd, including the release and waiver of the right of homestead.
S
S my hafd and seal.
0
Nly Commission
My Commission s
Expires 8/25/2001
.Accorded at the Request of:
LEISURE VALLEY, INC.
NOTARY PUBLIC in and for said
County and State el
et3sG�_ Vi?l.Giz