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RECEIVED
LINCOLN OOU.f',ITY CLERK
MORTGAGE DEED WITH RELEASE OF :' :~- '~': ~'~'':
HOMESTEAD
JefferyP. Carlisle and Diane W. Edwards-Carlisle
Mortgagor(s), of Salt Lake __County, State of Utah , to secure payment of
Twelve thousand dollars 00/100 Dollars ($_12,000.00 ),due DecemberlS, 2012 ,with
interest from December 15, 2002 at the rate of 10 per cent per annum payable monthly, evidenced by
Promissory Note of even date herewith, in monthly installments of One hundred fift¥-eilzht dollars and 58/100 Dollars
($ 158.58 ) each, including interest, commencing on the 15th day of Januar~
2003, and continuing on the same day of each month thereafter, do es hereby mortgage and warrant to LEISURE VALLEYi
INC., a Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the following described real property in the County of
Lincoln, State of Wyoming:
Lot 78 of Star Valley Ranch Plat 16 as platted and recorded in the Official Records of
Lincoln County, Wyoming.
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) fail 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 sale, 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.
If default 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 day of . ~ ,2002.
STATE OF WYOMING )
COUNTY OF LINCOLN )
MORTGAGORS:
1_ £'F' On thi9 ~-/~/~C'[ day of ~4~ /r)C- L&d~- ¢ . ,,t,q200 before me personally appeared
",jJJ2~-5-.I~_,O~L~ ] . {5 (Llc [ i .~'ktT~ and I_)iCLC. P [1~.). ['qTLvt_lc~_ ('fL{J' (i~ [,t~ knowntometobethe
person(s) descCed in and who executed the foregoing instrument, and acknowledged that
free act and deed, including the release and waiver of the right of homestead.
My oormnission expires
NOTARY PUBLIC m n~e~or, Ja~d County and State