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HomeMy WebLinkAbout867280ELEASE ©F "i'1rais gA.ge t�di��S CORRECTED sty Box., MORTGAGE DENNIS ALAN JONES, as Trustee of the Dennis Alan Jones Family Trust dated December 14, 1998 and JANE MAY JONES, as Trustee of the Jane May Jones Family Trust dated December 14, 1998 Mortgagors of Mendon, County of Cache, State of Utah, hereby mortgage to EARL W. KINSLOW and JUDY ANN KINSLOW, husband and wife Mortgagee of 230 Silver Spring Lane, Thayne, WY 83127 for the sum of ONE HUNDRED FIVE THOUSAND AND NO /100 ($105,000.00) the following described tract of land in Lincoln County, State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State, to wit: A portion of the NE1 /4 of Section 25, T34N, R119W, 6th P.M., located Southeast of the Town of Thayne, Lincoln County, Wyoming,` more particularly described as follows: BEGINNING at the B.L.M. type Monument found marking the C1 /4 of said Section 25; thence N0 °44'46 "E, along the West line of said NE1 /4, 1,818.07 feet to an Iron Pipe set thence S84 24'44 "E, to and roughly along an existing East -West fence line, 978.85 feet to an Iron Pipe found marking a corner of the Soest property, thence S2 30'50 "E, roughly along an existing North -South fence line 1,729.91 feet to Iron Pipe found marking the Southwest Corner of said Soest property, at an existing fence corner; thence N89 41'58 "W, roughly along an existing West -East fence line, 1,073.76 feet, to the point of beginning. Together with a 30 foot easement described as follows: A portion of the W1 /2E1/2 of Section 25, T34N, R119W, of the 6th P.M., Lincoln County, Wyoming being 15 feet on each side of the following more particularly described as P -line as follows: BEGINNING at a Spike found marking the center of the Cul -de -sac at the end of the Lazy Box J Ranch County Road 12 -186 said point being 451.56 feet S72 17 1 26 "E from the B.L.M. type Monument marking the C1/4 of Section 25; thence N16 °29'13 "W 52.81 feet to a Spike set; thence N68 14'53 "W 100.82 feet to a Spike set; thence N13 15'01 "W 49.04 feet to a Spike set at a point at a East -West fence line. This mortgage is given to secure the following indebtedness: One note of even date herewith for $105,000.00 made payable at the times and place and at the rate of interest specified in the note. This mortgage is intended to cover the rents and profits of said property, and consent is hereby given after default, for the appointment of a receiver by any competent court and the receiver is hereby authorized to rent the said property and apply the proceeds on this obligation. The Mortgagors agree to keep the buildings now on said premises or hereafter erected thereon fully insured against loss by fire in some fire insurance company approved by the mortgagee, with loss, if any payable to mortgagee, during the life of this mortgage. The Mortgagors also agree to pay all taxes and assessments on said premises, including any assessments that may be levied on water rights or shares of stock used in connection herewith, or held as collateral with the above note; also any tax that may be assessed by reason of this mortgage or the debt secured thereby, and reasonable attorney's fees in case of foreclosure, or the commencement of any legal proceedings for foreclosure of the same, and said attorney's fees shall be added to the amount due on this mortgage, and made a lien on the premises described herein. In case of default in the payment of any sum covenanted to be paid, either the principal or interest when the same shall become due and payable, or in case of default in the performance of any covenant herein contained,tl e whole anao,unt of this indebtedness secured herein may be immediately,deciared due and payable, and to bear interest aTt�"ie rate of 10 percent per annum from the date of such default, and this mortgage foreclosed at the option of the legal holder. In the event of default, Mortgagors gram 3tp Mortgagees a Power of Sale to foreclose on and sell said property as public auction pursuant to 34 -4 -101 et seq, Wyo. 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