HomeMy WebLinkAbout976946 976946 6/9/2014 11:08 AM
LINCOLN COUNTY FEES: $18.00 PAGE 1 OF 3
BOOK: 833 PAGE: 671 MORTGAGE
JEANNE WAGNER, LINCOLN COUNTY CLERK
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MORTGAGE DEED WITH RELEASE OF HOMESTEAD
GORDON TERRY ORTON and HOLLIE LYNNE ORTON, JTWROS, husband and
wife, of Lincoln County, Wyoming, Mortgagors, to secure the payment of ONE HUNDRED
FORTY ONE THOUSAND ONE HUNDRED TWELVE and 17/100 DOLLARS
($141,112.17), as provided in and evidenced by a promissory note of even date herewith (the
"Promissory Note and all renewals, modifications and extensions thereof, do hereby mortgage
and warrant to JULIE OLSEN, Mortgagee, of Salt Lake County, State of Utah, the following
described parcel of real property (the "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:
See Exhibit "A" attached hereto.
Together with all and singular the improvements thereon or thereunto appertaining.
Mortgagors agree to pay the indebtedness hereby secured according to the Promissory
Note, and during the life of this mortgage to pay all taxes and assessments against the Property.
If Mortgagors fails 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 the 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 Property 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 reasonable attorney fees,
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 Property granted to it
hereunder, Mortgagors hereby assigns to Mortgagee all rents hereafter payable for the use and
occupancy of the Property 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,
Mortgagors hereby authorizes Mortgagee to collect the rents from the Property 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 Property and rents and profits thereof from the time of such
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default and during the pendency of foreclosure proceedings and period of redemption, if any. If
Mortgagors shall fail to surrender such possession to Mortgagee promptly upon its request
therefore, 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 Property or the insufficiency thereof to discharge the
indebtedness and costs of foreclosure and sale, Mortgagee shall be entitled to receive from the
Property the rents, issues and profits thereof from the time of default to the expiration of any
redemptive period 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 Mortgagors.
Mortgagors warrant title to the Property as to parties claiming, by, through or under
Mortgagors only.
THE PROPERTY IS NOT AGRICULTURAL PROPERTY AS DEFINED IN WYO.
STAT. SS. 1 -18 -103.
Dated this 1st day of June, 2014.
MOR GAG RS:/
t 4 .v _Lt .Affi..\
G if' b ON TERRY c i an individual
liZec;
HOLLIE L E ORTON, an individual
STATE OF UTAH
SS.
COUNTY OF SALT LAKE
On this Al- day of June, 2014, before me personally appeared GORDON TERRY
ORTON and HOLLIE LYNNE ORTON known to me to be the persons(s) described in and who
executed the foregoing instrument, and acknowledged that he executed the same as their free act
and deed, including the release and waiver of the right of homestead.
NOTARY PUBLIC in an for said County and State
My commission expires: j 9
"•p_° BARBARA BALE
=1 ci)-,) Notary b of
My Commission Pulic Stofe Expires Ufa on
%,fir January 19, 2017
75 Comm. Number: 661925
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EXHIBIT A
LEGAL DESCRIPTIONS OF PROPERTY
The following parcel of real property located in the Town of Star Valley Ranch, County of
Lincoln, state of Wyoming, to wit:
Parcel 1:
Lot 61, Plat 6, Star Valley Ranch as platted and recorded in the Official Records of Lincoln
County, Wyoming.
Parcel Id. No. 3518- 30 -4 -08- 014.00
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