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Home My WebLink About888047 ............ BOO_ PR PAGE_~ LEIGH H. PE~S, holder of a life estate, and LEIGH H. PE~S ~. ves{ed remainder person, Mo~gagors, of 1030 Ha~a Building, Euclid Avenue, Cleveland, ONo, to secure the payment of Four Hundred Fo~ - Eight ~ous~d ~ee Hundred Fifty Dollars ($ 448,350.00) due with interest thereon at the rate of five percent (5%) per year (said sum and the interest thereon, being refe~ed to as the indebtedness), payable in accordance with the provisions of that ce~ain promisso~ note, dated J=ua~ 14, 2003, hereby mo~gage ~d w~t unto C~IG M. L~R, or Ns heirs or assi~s, mo~gagee, of Etna, Wyoming to wit: See Attached Exhibit "A" The indebtedness shall be divided between the holder of the life estate and the vested remainder. LEIGH H. PERKINS shall contribute 34.047% of the purchase price for his interest in the above described parcels and LEIGH H. PERKINS, Jr., shall contribute the remainder or 65.953% of the total purchaSe price for his interest in the above described parcels. If default occurs in th~ payment of the indebtedness or in the payment of any installment thereof, or if default occurs in any of the covenants and agreements hereof, 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 statute, or by an action in equity. Out of the proceeds of any foreclosure sale, 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 of the indebtedness remaining unpaid at the time of such sale, the same to be taxed as costs in any equitable action brought to foreclose this mortgage. Mortgage Perkins / Laker Page 1 of 3 565 To fully assure mortgagee the benefit of the security interests in the premises granted to it hereunder, mortgagors hereby assign to mortgagee all rents hereafter payable for the use and occupancy of the premises by an person in possession thereof with mortgagors' consent. If default occurs in any of the covenants and agreements herein contained, whether or not mortgagee elects to foreclose this mortgage on account thereof, mortgagee shall at once be entitled, and is hereby authorized, to collect the rents from the premises and to apply the same to the payment of 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 the incident rents, issues, and profits thereof from the time of such default and for and during the pendency of foreclosure proceedings and the ~period of redemption, if any. If mortgagors should fail to surrender such possession to mortgagee promptly upon its request therefore, mortgagee may compel delivery thereof by an ejectment action or other civil proceeding appropriate to that purpose. Furthermore and 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 mortgagorsl the value of the premises, or the sufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, mortgagee shall be entitled to a receiver for the premises and the rents, issues and profits thereof from the time of default to the expiration of any [edemptive period provided by law. Such receiver may be appointed by any court of competent jurisdiction upon ex parte application, without notice, notice being hereby waived and the appointment of a receiver upon such application being hereby consented to by mortgagors. Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. Mortgage Perkins / Laker Page 2 of 3 WITNESS our hands this 14th day of January, 2003. 566 STATE OF COUNTY OF ) ) SS. this The foregoing instrument was acknowledged before me by LEIGH H. pERKINs, day of January, 2003. WITNESS my hand and official seal. T. Buckingham Bird :,.. :A MYCOMMISSION# CC932433 EXPIRES '..,, ~...¢o b' August 5, 2004 · ,,, ~, ,~;, BONDED THRU TROY FAIN INSURANCE, INC My Commission Expires: NOTARY PUBLIC STATE OF WYOMING COUNTY OF LINCOLN The foregoing instrument was acknowledged before me by LEIGH H. PERKINS, Jr., this 14th day of January, 2003. WITNESS my hand and official seal. My Commission Expires: I~OTARY PUBLIC My Commission Expires Mortgage Perk/ns / Laker Page 3 of 3 0 ~j ~: ~{.) 47 EXHIBIT "A" 567 A portion of the property, as referred to in the Deed recorded in Book 509PR, on Page 383, with the Office of the Clerk of Lincoln County, Wyoming, within the SE 1/4SE 1/4 of Section 4, the S 1/2SW1/4 of Section 3 and N1/2NW1/4 of Section 10, all in T35N, R119W, of the 6t~ P.M., Lincoln County, Wyoming, the metes and bounds being more particularly described as follows: BEGINNING at the B.L.M. Type Monument marking the Scott Scherbel PLS 3889, 1991 location for the 'Southeast Comer of said SE1/4SE1/4; thence N88°41 '21"W, along the South line, 1,322.52 feet to the B.L.M. Type Monument marking the Lloyd B. Baker PE/LS 698, 2003 location for the Southwest Comer of said SE 1/4SE 1/4; thence N 1 ° 10' 16"E, along the West line of said SE1/4SE1/4, 1,322.33 feet to the B.L.M. TyPe Monument marking the Lloyd B. Baker PE/LS 698, 2003 location for the Northwest Comer of said SE1/4SE1/4; thence S88°47'45"E, along the North line of said SE1/4SE1/4, 1,326.90 feet to the B.L.M. Type Monument marking the Scott Scherbel PLS 3889, 1990 location for the Northwest Comer of said S 1/2SW1/4; thence S89°33'26"E, along the North line of said S1/2SW1/4, 1,368.40 feet to an Aluminum Cap on an Iron Pipe; thence SO°E, 448.63 feet to an Aluminum Cap on an Iron Pipe; thence S89°33'26"E, parallel with said North line, 485.49 feet to an Aluminum Cap on an Iron Pipe; thence N0°E 448.63 feet to an Aluminum Cap on an Iron Pipe marking a point in said North line; thence S89°33'26"E, along said North line, 551.01 feet to an Iron Pipe marking the Northwest comer of the Laker prope~y, as referred to in the Deed recorded in Book 467PR, on Page 900, with said office; thence S8°04' 19"E 407.43 feet to an Aluminum Cap on an Iron Pipe; thence S89°33'26"E 182.46 feet to an Aluminum Cap on an Iron Pipe marking a point in the East line of said S1/2SW1/4; thence S1°28'06"W, along said East line, 896.46 feet to the Lloyd B. Baker PE/LS 698, 1994 location for the Northeast Comer of said N 1/2NWl/4, thence S0°47'43"W, along the East line of said N1/2NW1/4, 1,357.27 feet to the B.L.M. Type Monument marking the Lloyd B. Baker PE/LS 698, 1999 location for the Southeast Comer of said N1/2NW1/4; thence N89°46'46"W, along the South line of said N1/2NW1/4, 2,636~06 feet to the Marlowe A. Scherbel PLS 5368, 2001 location for the Southwest Comer of said N1/2NW1/4; thence N0°04'5 I"E, along the West line of said N1/2NW1/4, 385.33 feet to a point in Salt River; thence N89°53'27"E 527.84 feet to an Aluminum Cap on Rebar; thence N0°05'25"E 956.76 feet to an Aluminum Cap on Rebar marking a point in the North line of said Ni/2NW1/4; thence S89°53'41'' W, along said North line, 528.00 feet, to the Point of Beginmng, containing 183.514 Acres of land. SUBJECT TO: A 30 feet wide Right-of-Way Easement, along the North line of the above described Subdivision, for Creamery County Road 12-111, as referred to in the Right-of-Way recorded in Book 167PR, Page 681. RESERVING UNTO GRANTOR: A 20 feet wide Right-of-Way Easement, for Laker Acres access and to an existing irrigation pipeline, the East line being more particularly described as follows: BEGINNING at a Point in the South line of said S 1/2SW1/4, said Point of Beginning, being 767.69 feet S89°53'41"W, along said South line from the B.L.M. Type Monument marking the Lloyd B. Baker PE/LS 698, 1994 location for the Southwest Comer of said S1/2SW1/4; thence N0°W for 858.00 feet to an Aluminum Cap on an Iron Pipe marking the Southeast comer of said Laker Acres. RESERVING UNTO GRANTOR: A 20 feet wide Right-of-Way Easement, being the South 20 feet of the East 990 feet, of said S 1/2SW1/4 for access and maintenance of the existing Irrigation Pipeline. TOGETHER WITH and SUBJECT TO: All Easements, Exceptions, Reservations, Restrictions, Rights-of Way and Improvements of sight and or record.