HomeMy WebLinkAbout877662 ' Sidney W. Brooks
Mortgagor(s), of County, State of Idaho , to secure payment of
__Seven thousand two hundred Dollars ($__7,200.00 ), due September 15~
2006 ., with interest from Angust 24~ 2001 at the rate of 10 (ten) per
cent per annum payable monthly, evidenced by Promissory Note of even date herewith, in monthly installments of
One hundred fifW-two dollars and 98/100 Dollars ($ 152.98 ) each,
including interest, commencing on the 15th day of O~ober .,. 2001, and continuing on the same
day of each month therea~er, do~ hereby mortgage and warrant to LEISU~ VALLEY, INC., a Nevada Co¢oration,
Mortgagee, of Lincoln Count, Wyoming, the following described real proper~ in the County of Lincoln, State of Wyoming:
Lot 46 of STAR VALLEY ~CH PLAT S~ (8)
Mortgagor(s) agree~ to pay the indebtedness according to the te~s and conditions of that cenain Promisso~ Note herein'above
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 Moagagor(s) fail to pay such taxes or assessments, Mortgagee may pay the same, and all sums paid by Mortgagee
for 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 payment of any installment thereof, or if default occurs in any of the
covenants and agreements hereof or under the aforesaid Promisso~ Note, then the whole indebtedness shall, at Mongagee's option,
become due and payable fo~hwith, and Mortgagee may foreclose this mortgage either by adve~isement and sale of the premises as
provided by the statutes of the State of Wyoming, or bY an action in equity. This will be Mongagee's sole remedy against Moagagor(s)
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 attorney fees in an amount equal to Ten Percent (10%) of the indebtedness remaining unpaid
at the time of such sale, and the same shall be taxed as costs in any equitable action brought to foreclose this mortgage.
To fully a'ssure Mo~gagee the benefits of the securi~ interest in the premises granted to it hereunder, Mortgagor(s) hereby assign~
to Mo~gagee ali rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with Mortgagor's
consent. If default occurs in any of the the covenants and agreements herein contained or under the aforesaid Promisso~ Note, whether
or not Mortgagee elects to foreclose this tuG,gage on account thereof, Mo~gagor(s) hereby authorize~ Mortgagee to collect the rents
from t~e premises 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 mOagage upon default, Mortgagee shall be entitled to the possessi~ and enjoyment of the premises
and rents and profits thereof from the time of such default and during the pendency of foreclosure pr0ce~dings and period ofredempti°n,
if any. If Moagagor(s) sha~ fail to su~ender such possession to Mo~gagee promptly upon its request therefor, Mo~gagee may compel
delivery 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, Mortgagee shall
be entitled to receive from the premises the rents, issues and profits thereof from the time of dehult to the expiration of any redemptive
period provided by law. A receiver may be appointed byany court of competent jurisdiction upon ex pane application without notice,
notice being hereby waived and appointment of a receiver upon such application being hereby consented to by the Mortgagor(s).
MORTGAGORS(S) HEREBY ~LINQUISH AND WAIVE all rights under' and by vktue of the homestead
exemption laws of the Stat~ of Wyoming.
Datedthis /~ dayof ~ ,2001.
COUNTYOF LINCOLN )
On this ~-~ ¢'~ day of ~.~-[~Cc~'"~ , 2001, before me personally appeared
Sidney W. Brooks and known to me to be the person(s)
described in andwho executed the foregoing instrument, and ac~owledged that he executed the same as his
~ free act and deed, including the release and waiver of the right of homestead.
W?NESS my hand and seal.
NOTARY PUhlC)n a~or said County and State
My commission expkes (<?( ~'07~ ~'
~ ' . M)' Commission Exp re~ 06-I 3.1002