HomeMy WebLinkAbout888461LINCOLN (,OUr,II ( CLERK
MORTGAGE
DOUGLAS RIECK of Afion, Wyoming (hereinafter collectively called
("MORTGAGOR") to secure the payment of Six Thousand Five Hundred Dollars
($6500.00) with interest of 10% per year thereon, as provided in and evidenced by a
promissory note of even date herewith with the ultimate maturity date of which is the
September 1, 2003 and all renewals, modifications and extensions thereof, does hereby
mortgage to SUZAN C. PAULiNG (hereinafter called MORTGAGEE) the following
described real property, situate in the County of Lincoln, State of Wyoming, hereby
releasing and waiving all rights under and by virtue of the homestead exemption laws of
the State of Wyoming, to-wit:
Part of Lot 2 of Block 4 to the Town of Afton, Lincoln County, Wyoming being
more particularly described as:
Beginning at apoint which is 110 feet South of the Northwest corner of said Lot 2
and running thence South, 120 feet; thence East, 200 feet; thence North 120 feet;
thence West 200 feet to the point of beginning.
MORTGAGOR agrees to pay the indebtedness hereby secured; 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 of the debt hereby secured, or
the insurable value (replacement cost) of such improvements whichever is less, which
insurance shall contain an appropriate loss payable provision protecting
MORTRGAGOR 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 t!ereby 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. the 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 prior written consent of the
MORTGAGEE first had and obtained, then the whole indebtedness hereby secured, with
interest, thereon shall become due and payable, at the option of MORTGAGEE, and
MORTGAGEE'S legal representative and assigns, may proceed by advertisement and
sale/or as otherwise authorized by governing law, to foreclose or~ 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 t0 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 tendency of the foreclosure proceedings, and the period of redemption, if
any there be.
WITNESS OUR HAND THIS
day of M.a.~03.
State of Wyoming
County of Lincoln
The foregoing instrument was acknowledged before me this
March, 2003.
day of
Witness my hand and official seal.
$'} $ondro Jc:.cobson ,,,.:~-..-., Notary Public Ig
· i/~ My Comm[ssionE~p[res: r.t
My Commission expires: /0 - ,_30- 03
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