HomeMy WebLinkAbout866978KNOW ALL. MEN BY THESE PRESENTS, That PAUL E. SPENCER, A SINGLE MAN
herein designated as Mortgagor, of Lot 3 of Easy Acres Subdivision, Phase I County of
Lincoln State of Wyoming to secure the payment of the principal
sum of Fifty six thousand seventy and 96/100 Dollars (556,070.96
with interest as evidenced by a promissory note dated June 26, 2000 herewith to the order of
POCATELLO SIMPLOT CREDIT UNION
PO BOX 912
POCATELLO, IDAHO 83204
hereinafter designated Mortgagee, principal and
interest payable in 120 installments of 842.54 each on the last day of each
month, beginning on the 31st day of JULY it 00 each installment to be applied
first to interest, and the balance to be applied to principal, any balance of' principal or interest remaining unpaid
shall be due with the LAST installment on JUNE 30, 2010
hereby mortgages to said Mortgagee, the following- described real estate, situated in Lincoln
County, State of Wyoming, to wit:
ELEASE
Stst
111∎14
14EL•061(2 -B4)
MORTGAGE
Lot 3 of Easy Acres Subdivision, Phase I, Lincoln County, Wyoming as
described on the official plat thereof.
BOOK 44$R PAGE 3
866978
RECEIVED
00 JUL 1 3 FM
%.1 E \NNL LI
KEMMERER, WYOMING
including all buildings and improvements thereon (or that may hereafter be erected thereon); together with
hereditaments and appurtenances and all other rights thereunto belonging, or in anywise now or hereafter appertain-
ing, and the reversion and reversions, remainder and remainders, rcnts, issues, and profits thereof, and all plumbing,
heating and lighting fixtures and equipment now or hereafter attached to or used in connection with said premises.
The Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead laws of the State
of Wyoming and covenants and agrees that he is lawfully seized of said premises, that they are free from all encum-
brances, and hereby covenants to warrant and defend the title of said premises against the lawful claims of all per-
sons whomsoever.
And the Mortgagor covenants and agrees with the Mortgagee as follows:
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DES
84,699130
g. That in case of any default whereby the right of foreclosure occurs hereunder, the Mortgagcc shall at once
become entitled to exclusive possession, use, and enjoyment of all property aforesaid, and to all rents, issues and
profits thereof, from the accruing of such right and during the pendency of forclosure proceedings and the period
of redemption, if any there be, and such possession, rents, issues and profits shall at once be delivered to the Mort-
ape on request, and on refusal, thc delivery of such possession, rents, issues, and profits may be enforced by the
Mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forcible entry,
or unlawful detainer, and the Mortgagee shall be entitled to a Receiver for said property and all rents, issues, and
profits thereof, after any such default, including thc time covered by foreclosure proceedings and the period of redemp-
tion, if any there be, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency
of the Mortgagor, or the then owner of said property, and without regard to the value of' said property, or the suf-
fiency thereof to discharge the mortgage debt and foreclosure costs, fees, and expense, and\such Receiver may be
appointed by any court of competent jurisdiction upon ex parte application, and without notice (notice being hereby
expressly waived and the appointment of any such Receiver on any such application without notice being hereby
consented to by the Mortgagor on the Mortgagor's own behalf), and all rents, issues, and profits, income and revenue
of said property shall be applied by such Receiver, according to law and the orders and directions of the court.
9. Transfer of the Property; Assumption. If all or any part of thc Property or an Interest therein is sold or
t ransferred by Mortgagor without Mortgagee's prior written consent, excluding (a) the creation of a lien or encum-
brance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances,
(c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any Leasehold
interest of three years or less not containing an option to purchase, Mortgagee may, at Mortgagee's option; declare
all the sums secured by this Mortgage to be immediately due and payable. Mortgagee shall have waived such option
to accelerate if, prior to the sale or transfer, Mortgagee and the person to whom the Property is to be sold or transferred
reach agreement in writing that the credit of such person is satisfactory to Mortgagee and that the interest payable
on the sums secured by this Mortgage shall be at such rate as Mortgagee shall request. If Mortgagee has waived
the option to accelerate provided in this paragraph and if Mortgagor's successor in interest has executed a written
assumption agreement accepted in writing by Mortgagee, Mortgagee shall release Mortgagor from all obligations
under this Mortgage and the Note.
10. No failure by the Mortgagee or any legal holder hereof to enforce any right set forth herein nor the grant-
ing of any extension of time nor taking of additional security, nor partial release of security or the snaking of future
advances, shall act to constitute a waiver of the right to enforce any and all remedies provided herein nor shall it
act to discharge or release the collateral.
11. That the covenants herein contained shall bind, and the benefits and advantages shall inure to, the respec-
tive heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular number
shall include the plural, the plural the singular, and the use of any gender shall include all genders.
And the said wife of the said
upon the consideration aforesaid. does hereby release and forever
quit -claim unto the Mortgagee all her rights of homestead in and to the above granted premises.
IN WITNESS WHEREOF, the Mortgagor(s) ha hereunto set hand(s) this
day of June s_9
in the presence of—
THE STATE OF %MAWS,
County of BANNOf K
On this
26th
IDAHO
day of June
PAUL E. SPENCER
foregoing instrument, and acknowleged that
OF
5 -1 -2004
1
to me known to be the person described in and who executed the
HE
0866y'78
is:
X A/4,
NOTARY seal this 26th
00, before me personally appeared
executed the same as
free act and deed, including the release and waiver of the right of homestead, the said wife having been by
me fully apprisec4„p,E,hift right and the effect of signing and acknowledging the said instrument_
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.J Lb.
4 may
day of JUNE
535
26th
A. DAM 00