HomeMy WebLinkAbout871443MORTGAGE DEED WITH RELEASE OF HOMESTEAD
Audie L. Martin
Mortgagor(s), of Teton County, State of Wyoming to secure payment of
Fifteen thousand seven hundred fifty dollars and 00 /100 Dollars 15,750.00 due January 15,
2011 with interest from 12/15/00 at the rate of 10 per cent per annum payable
monthly, evidenced by Promissory Note of even date herewith, in monthly installments of Two hundred eight dollars
and 14/100 Dollars 208.14 each, including interest, commencing on the
15th day of Januari 2001, and continuing on the same day of each month
thereafter, do es 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 98 of Prater Canyon Estates 1
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 the Mortgagor(s).
MORTGAGORS(S) HEREBY RELINQUISH_ AND WAIVE all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
Dated this 642 of -e-C- 2000.
A
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STATE OF WYOMING
TeYod ss.
COUNTY OF LINCOLN
ra
1 r 3
WITNESS my hand and seal.
My commission expires
04//oL
MORTGAGORS:
e c ern16eh' 2000, before me personally appeared
this 027e-' day of p y pp eared
Udie, NaR f iAl and known to me to be the
person(s) described in and who executed the foregoing instrument, and acknowledged that /7e executed the same as
free act and deed, including the release and waiver of the right of homestead.
)0ot, .),J4d&
NOTARY PUBLIC i and for said County and State
DONETA J. Sh1INKLE Notary Public
County Of State of
Teton Wyoming
M CoMMiitigicn E ir Aug. 14 2004