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HomeMy WebLinkAbout868849453 BOOK __PR PAGE 2 4 RECEIVED ._INCo tH (;.1. MORTGAGE 6 49 GO OCT Loren E. Young and Kristine Young, husband and w p f p O., fox .94, Smoot, Wyoming, 83126, (herein collectively called "MORTGA a Vib "s the payment of Forty -Five Thousand Five Hundred Dollars ($45,500,00), with interest thereon, as provided in and evidenced by a promissory note of even date herewith (the ultimate maturity date of which is the 6 th d ay of Octob 2001) and all renewals, modifications and extensions thereof, do hereby mortgage unto Pitchfork Development Company, LLC, a Wyoming limited liability company, of P. O. Box 8969, Jackson, Wyoming, 83002, (herein called "MORTGAGEE"), the following described real property, situate in the County of Lincoln, State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming, to -wit: Liz of Lot 1 of Bear Creek Estates, Lincoln County, Wyoming, as described on the official plat thereof. TOGETHER with all and singular the improvements and appurtenances thereon or thereunto appertaining (the "Property GAGOR agrees to pay the indebtedness hereby secured; to pay all taxes, assessments and charges levied against the Property, as the same become due and payable; to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with an insurance carrier or carriers acceptable to MORTGAGEE, covering the insurable improvements on the Property against loss by fire and earthquakes, with extended coverage, in an amount not less than the unpaid balance of the debt hereby secured, or the insurable value (replacement cost) of such improvements, whichever is less, which insurance shall contain an appropriate loss payable provision protecting MORTGAGOR and MORTGAGEE as their respective interests may appear from time to time. In the event MORTGAGOR fails to pay such taxes or assessments, or fails to keep and maintain such insurance as herein provided, MORTGAGEE may pay such taxes and assessments and may secure and pay for such insurance, and all sums so paid shall be added to and considered a part of the indebtedness hereby secured and shall draw interest at the same rate. In case default shall be made in the payment of the above sums hereby secured, or in the payment of the interest thereon, or any part of such principal or interest, when the same shall become due; or in case default shall be made in any of the covenants and agreements thereof, or in the event MORTGAGOR sells or conveys the Property, or any part thereof, or any interest therein, without the prior written consent of MORTGAGEE first had and obtained, then the whole indebtedness hereby secured, with interest thereon, shall become due and payable, at the option of MORTGAGEE, and MORTGAGEE'S legal representatives and assigns, may proceed by advertisement and sale and /or as otherwise authorized by governing law, to foreclose on and sell the Property, and out of the proceeds of such sale, MORTGAGEE shall pay all sums due hereunder, together with all costs of sale, including reasonable attorney's fees. If the proceeds of the foreclosure sale are insufficient to pay the indebtedness hereby secured and foreclosure costs, MORTGAGEE shall be entitled to a deficiency judgment. o s ak) uo!ssrwwoD Art Zutw©rtM eigiS l!lgnd AaeloN y3111iW AJJay uloaui1 Jo Awnoa z D grid in4ON Ives 1vPWo ptre pub Atu minim '000Z' ,V Tty Q za ;o £ap +P snp $tmox atipsux ptta SunoA uaxo- in axo ;aq pa�pajkiou p sum 4uatunx}sui SugoSaao; aqj, ss 30 3.Ld.LS 9Zt£8 2uttuoAm looms xo9. '0 'd 71ODVJL?1OIAI 3 ssarppy Stmox •3 trio/ L on (z .saltdx3 uotsstu rtuop XJ/ '000Z v V ;o Avp 797 stop spuvti xtto SSItsaIM TOt -St -t 'SVZS '0,1.M NI daNla3a sY 1V IIli1tiDil0v ION SI Ia 1O Ld axe 'djuo 2IODV DION /op= io tOrtaxlji Aq uttutvp satptad o; sti A .tadoad aq; oa app s }ueIIVM ?IODVDfl1oNt •aq amp Auv ;t'uopdwapax ;o potxad atp. pug 'sSutpeaaold axnsopaxo; alp ;o Aauapuad aq; strgnp pus tans r(ut3 ;o Sutttxaav aq3 tool; sir ;o td pux sansst 'dual na o3 puss 'Maadoxd alp ;o 4uautAof ua puV astt 'uotssassod antsnpxa 03 paptaua auroaaq aauo a.g dlmts aaDVD11jo1A1 'sap unatat sanaao alnsotaaxo; ;o ;t atp dgaiat;na }jnB ;ap Aua ;o 4u9n9 atp uI GI, p, 163