HomeMy WebLinkAbout886543 MORTGAGE DEED WITH RELEASE OF HOMESTEAD
_Joseph A. Kachmar & Diane C. Kachmar Mortgagor(s), of_La Paz... County, State of_Arizona ., to
secure payment of __fourteen thousand seven hundred fifty and no/100--Dollars ($14,750.00_), due _September 1,
2012~., with interest from __August 1, 2002 at the rate of _ten_per cent per annum payable monthly,
evidenced by Promissory Note of even date herewith, in monthly installments of _one hundred ninety-four and
92/100 Dollars ($194.92) each, including interest, commencing on the_l st__ day of_September__, 2002 and
continuing on the same day of each month thereafter, does hereby mortgage and warrant to LEISURE VALLEY, INC., a
Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the following described real property in the County of
Lincoln, State of Wyoming:
Star Valley Ranch RV Park Plat 2 Lot 638
Mortgagor(s) agree to pay the indebtedness according to the terms and conditions of that certain Promissory Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the life of this mortgage to pay all taxes and assessments against the
premises. If Mortgagor(s) 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 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 premises as
provided by the statutes of the State of Wyoming, or by an action in equity. This will be Mortgagee's sole remedy against Mortgagor(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 sate, 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 premises granted to it hereunder, Mortgagor(s) hereby assign__ to
Mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with Mortgagor's
consent. Ifdefault occurs in any of the the covenants and agreements herein contained or under the aforesaid Promissory Note, whether or
not Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize_. Mortgagee to collect the rents from
the 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 mortgage upon default, Mortgagee shall be entitled to the possession and enjoyment of the premises
and rents and profits thereof from the time of such default and during the pendency of foreclosure proceedings and period of redemption, if
any. If Mortgagor(s) shall fail to surrender such possession to Mortgagee promptly upon its request therefor, 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 Mortgagor(s),
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 default to the expiration of any redemptive period
provided 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 Mortgagor(s).
MORTGAGORS(S) HEREBY RELINQUISH AND WAIVE all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.. "
Dated this 1st day of__August ., 2002
MORTGAGORS:
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
, On this . { -- da~, of ~ ~::;'l ,~--.'3c ,, .....
· .... ~ a , . , J ~ -.~--~?-.--- , zu,u4 vetore me personally a~neared
~3g~vx ~, ~CV~i' and '~1'/~ "~ , ~.~,~L ..... ~ ~ . '~
. ~- - , .... ~ ~ t~v~,~ r~vv~l ~owntomotnh~h~r~x
aescnbed m and who executed the foregoMg instrument and acknowle~-~ ~k~* ~ .......... ' ......
__. ,. . . , .. .. , ~ , o~u ~-at ~cxccutefl me same'as
act ana aeea, xnc~umng me release and waiver or the rieht of homest d D ....
NOTARY PUBLI in ~ for said County and S