HomeMy WebLinkAbout877652 MORTGAGE DEED WIT OF OMESTEAD
Mortgagor(s), of Teton _CounW, State of__~
of__Twenw-eilht thou/~d eight hunarea Dollars ($28,800,00
- _), due
15, 2016 , with interest ~om__~ua~st29~ 2001 .attherate of~ per
cent per annum payable monthly, evidenced by Promisso~ Note of even date herewith, in monthly installments of
~Jwo hundred Seventy-five dollars and 2t/100
~ , Dollars
($ 275.23 ) each, includ~g interest, commencing on the j 5th . day of O~ober , 2001,
and continuing on the same day of each month therea~er, do hereby mo~gage and wa~ant to LEISU~ VALe,
INC., a Nevada Corporation, Mo~gagee, of Lincoln Count, Wyoming, the following described real prope~ in the County
of Lincoln, State of Wyoming:
Lot 63 of STAR VALLEY ~NCH PLAT S~ (6)
Mortgagor(s) agree to pay the indebtedness according to the terms and conditions of that certain Promisso~ Note hereinabove
described, executed by Mo~gagor(s) to Leisure Valley, Inc,, and during the life of this mortgage to pay all taxes and assessments against
the premises, If Mo~gagor(s) fail to pay such taxes or assessments, Mo~gagee may pay the same, and all sums paid by Mortgagee
Ibr such pu~ose shall be added to and considered as a pa~ of the indebtedness and shall draw interest at the same rate,
If default occurs in the payment of the indebtedness or in the pa~ent of any installment thereof, or if default occurs in any of the
covenants and agreements hereof or under the aforesaid Promissou Note, then the whole indebtedness shall, at Mo~gagee's option,
become due and payable fo~hwith, and Mo~gagee may foreclose this mo~gage either by advertisement and sale of the premises as
provided by the statutes of the State of Wyoming, or by an action m equi~, This will be o~gagee s sole remedy against Mo~gagor(s)
M '
m case of default by Mo~gagor(s), Out of the proceeds of any foreclosure the Mo~gagee shall retmn 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
ar the t/me of such sale, and the same shall be taxed as costs in any equitable action brought to foreclose this mo~gage,
To fully assure Mo~gagee the benefits of the security interest in the premises granted to it hereunder, Mo~gagor(s) hereby assign ,
to Mo~gagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with Mo~gag~
consent Ifdefault occurs in any of the the covenants and agreements hereto contained or under the aforesaid Promisso~ Note, whether
from the premises and to apply the same to the payments on the indebtedness secured hereby until such default is remedied,
or not Mo~gagee elects to foreclose th~s mortgage on account thereof. Mortgagor(s) hereby authorize Mo~gagee to collect the rents
In the event of ~oreclosure of this mo~gage upon default, Mortgagee shall be entitled to the possession and enjoyment of the premises
and ren rs and profits thereof from the time of such default and during the pendency of foreclosure proceedings and period of redemption,
if any. If Mo~gagor(s) shall fail to su~ender such possession to Mo~gagee promptly upon its request therefor, Mo~gagee may compel
delive~ thereof by ejectment action or other civil proceedings appropriate for that pu~ose. Fu~he~ore, in addition to the remedies
othe~ise provided for in this mortgage and by law and as a ma~er of right without regard to the solvency or insolvency of Mo~gagor(s);
or the value of the premises or the insufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, Mo~gagee shall
be entitled to receive from the premises the rents, issues and profits thereof ~rom the time of default to the expiration of any redempnve
period provided by law, A receiver may be appointed by any cou~ of competent jurisdiction upon ex pa~e application without notice,
notice being hereby waived and appointment of a receiver upon such application being hereby con~ented to by the Mo~gagor(s),
MORTGAGORS(S) HE.BY ~LINQUISH AND WAIVE all rights under and by v~ue of the homestead
exemption laws of the State of Wyoming,
Dated this ~ 29th day of__~u~st ,2001.
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
On this __~29th day of_ Au~st , 2001, before me personally appeared
_Mark S. Rycz. _ and known to me to be the person(s)
described in and who executed the foregoing instrument, and acknowledged that ._he executed the same as __his
free act and deed, including the release and ~vaiver of the right of homestead.
WITNESS my hand and seal.