HomeMy WebLinkAbout887878 RECEIVED
LIt',ICOL/'I COL!NTy CLERK
S, 5, 7
KEVIN M. PAUL AND EKO PAUL, HUSBAND AND WIFE,
AFTON, WY 83110, (herein collectively called "MORTGAGOR"), to seCure':tl~e~Paym~'nt'i~f
TWO HUNDRED FORTY THOUSAND DOLLARS ($240,000.00), with interest thereon, as
provided in and evidenced by a promissory note of even date herewith {the ultimate maturity
date of which is the 1ST day of MARCH, 20081 and all renewals, modification and extensions
thereof, do hereby mortgage unto MARY HYDE of P.O. BOX 101, AFTON, WY 83110
(herein called "MORTGAGEE"I, the following described real property, situate in the County of
Lincoln, State of Wyoming, hereby releasing and waving all rights under and by virtue of the
homestead exemption laws of the State of Wyoming, to-wit:
Part of Section 19, T32N Rll8W of the 6th P.M., Lincoln County,
Wyoming, described as follows:
COMMENCING at a point which is 50 feet East and 14 rods 7 feet South
of the Northwest corner of the NW~SW~ of said Section 19 and running
thence East 735.98 feet; thence S 4° E, 119.98 feet; thence S 30°
E, 325.98 feet, more or less, to a point 20 feet North of the South
boundary line and 956.'85 feet East of the West boundary line of the
N~NW~SW~ of said Section 19; thence West 263.49 feet; thence South
20 feet to the South boundary line of said N~NW~SWW; thence West,
along the South boundary line, 140.42 feet; thence N 44° W, 367.00
feet, more or less, to a point 158 feet South and 248 feet East of
the point of beginning; thence West 248 feet; thence North 158.00
feet to the POINT OF BEGINNING.
ALSO, part of Section 19, T32N Rll8W of the 6th P.M., Lincoln
County, Wyoming, more particularly described as follows:
COMMENCING at a point which is 50 feet East and 14 rods 7 feet South
of the Northwest corner of the NW~SW~ of said Section 19 and running
thence East 735.98 feet; thence S 4° E, 119.98 feet; thence S 30°
E, 325.98 feet, more or less, to the POINT OF BEGINNING; thence
S 30° E, 20 feet to the South boundary line and 956.85 feet East of
the West boundary line of the N~NW~SW~ of said Section 19; thence
West 279.00 feet, more or less, to the boundary of land contained
in Real Estate Sales Contract recorded June 2, 1993 in Book 329PR
on page 571 of records of Lincoln County Clerk; thence North 20
feet; thence East 279.00 feet, more or less, to the POINT OF
BEGINNING.
MORTGAGOR agrees to pay the indebtedness hereby secUied; to pay all taxes,
assessments and charges levied against the Property, as the same become due and payable;
to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with an insurance
carrier or carriers acceptable to MORTGAGEE, covering the insurance improvements on the
Property against loss by fire and earthquakes, with extended coverage, in an amount not less
than the unPaid balance oft.he debt hereby secured, or the insurable value (replacement cost)
of such improvements wt~ichever is less, which insurance shall contain an appropriate loss
payable provision protecting MORTGAGOR and MORTGAGEE as their respective interests may
appear from time to time. In the event MORTGAGOR fails to pay such taxes or assessments,
or fails to keep and maintain such insurance as herein provided, MORTGAGEE may pay such
taxes and assessments and may secure and pay for such insurance, and all sums so paid shall
be added to and considered a part of the indebtedness hereby secured and shall draw interest
at the same rate.
In case default shall be made in the payment of the above sums hereby secured, or in
the payment of the interest thereon, or any part of such principal or interest, when the same
shall become due; or in case of default shall be made in any of the covenants and agreements
thereof, or in the event MORTGAGOR sells or conveys the Property, or any part thereof, or
any interest therein, without the prior written consent of the MORTGAGEE first had and
obtained, then the whole indebtedness hereby secured, with interest thereon, shall become
due and payable, atthe option of MORTGAGEE, and MORTGAGEE'S legal representatives and
assigns, may proceed by advertisement and sale/or as otherwise authorized by governing law,
to foreclose on and sell the Property, and out of the proceeds of such sale, MORTGAGEE shall
pay all sums due hereunder, together with all costs of sale including reasonable attorney's
fees. If the proceeds of the foreclosure sale are insufficient to pay the indebtedness hereby
secured and foreclosure costs, MORTGAGEE shall be entitled to a deficiency judgment.
In the event of any default whereby the right of foreclosure occurs hereunder,
MORTGAGEE shall at once become entitled to exclusive possession, use and enjoyment of the
Property, and to all rents, issues and profits from the accruing of any such rights and during
the pendency of the foreclosure proceedings, and the period of redemption, if any there be.
MORTGAGOR warrants title to the Property as to parties claiming, by through or under
the MORTGAGOR only..
Witness our hands this \/-----~
day of February, 2003.
Kevin ~. Paul
Eko Paul
State of Wyoming
County of Lincoln
The foregoing instrument was acknowledged before me by Kevin J. Paul and Eko Paul this
day of February, 2003.
Witness my hand and official seal.
My Commission Expires:
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