HomeMy WebLinkAbout890199BOOK~2J PRPAGE 53'2
MORT G EED
KATHLEEN A. MILLER, Mortgagor, of Johnson County, State :bfX,Wyofn.i~g,-.:to
secure the Payment of that certain PromissOry Note dated May [_~,1~2003, in the principal
amount ofTEN THOUSAND AND NO/100 DOLLARs ($10,000.00), with interest thereon
at the rate of twelve percent (12.0%), per annum hereby mortgages and warrants to DAVID
L. JOHNSON and KATHLEEN M. JOHNSON, Mortgagees, whose address is 342 Bird
Farm Road, Sheridan, Wyoming, 82801, the following-described real estate situate in the
County of Lincoln, State of Wyoming, to-wit:
Lot Thirty-one (31) River View Meadows Addition to the Town of Alpine
within the SE'¼ of Section 30, T. 37 N., R. 118 W., according to the Plat flied
July 2, 1993,.as Instrument No. 767416;
TOGETHER WITH ail improvements situate thereon and easements and
appurtenances thereunto belonging;
SUBJECTTO all easements, reservations, covenants and restrictions, if any,
of record.
Mortgagor agrees to pay the indebtedness according to the terms of said
Promissory Note, and, during the life of this Mortgage, to pay all taxes and assessments
on the premises and to keep the improvements thereon insured against fire and other
hazards in a sum not less than the unpaid principal balance by such insurance as
Mortgagees may approve, with the proceeds thereof made payable to Mortgagees. If
Mortgagor fails to pay such taxes or assessments or fails to keep the premises insured,
Mortgagees may pay the same and may insure the premises, and all sums paid by
Mortgagees for such purposes 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, and
said default is not cured after a date specified by a written notice to the Mortgagor, then
the whole indebtedness shall, at Mortgagees' option, become due and payable forthwith,
and Mortgagees may foreclose this mortgage either by advertisement and sale of the
premises as provided by statute, or by an action in equity. The date specified in such
written notice shall not be less than thirty (30) days from the date such notice is mailed.
Out of the proceeds of any foreclosure sale, Mortgagees shall retain or receive all sums
due hereunder, and costs of foreclosure and sale, including reasonable attorney fees, the
same to be taxed as costs in any equitable action brought to foreclose this Mortgage. If
any portion of the indebtedness is not satisfied by the sale of the premises pUrsuant to
advertisement and sale or court decree, the Mortgagees may obtain a judgment against
the Mortgagor on that portion of the indebtedness not satisfied by the sale of the property.
All remedies provided in this Mortgage shall be cumulative and in addition to every other
remedy afforded by law or in equity or by statute to the Mortgagees. The Mortgagees shall
be entitled to collect all reasonable costs and expenses, including a reasonable attorney's
fee, incurred in pursuing the remedies provided in this mortgage or afforded by law.
To fully assure Mortgagees the benefit of the security interest in the premises
granted hereunder, Mortgagor hereby assigns to Mortgagees 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 covenants and agreements herein
contained, whether or not Mortgagees elect to foreclose this mortgage on account thereof,
Mortgagees shall at once be entitled, and are 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, Mortgagees 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 Mortgagor should fail to
surrender such possession to Mortgagees promptly upon their request therefor,
Mortgagees 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 Mortgagor, the value of the premises, or the sufficiency thereof
to discharge the indebtedness and costs of foreclosure and sale, Mortgagees 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 redemptive period pr~)vided by law. Such receiver
may be appointed by any court of competent jurisdiction upon ex parte application, without
notice, notice being hereby consented to by Mortgagor.
If all or any part of the premises or any interest in it is sold or transferred without
Mortgagees' prior written consent, Mortgagees may, at their option, require immediate
payment in full of all sums secured by this Mortgage.
If Mortgagees exercise this option, Mortgagees shall give Mortgagor notice of
acceleration. The notice shall provide a period of not less than thirty (30) days from the
date the notice is delivered, transmitted by facsimile machine, or mailed within which
Mortgagor must pay all sums secured by this Mortgage. If Mortgagor fails to pay these
sums prior to the expiration of this period, Mortgagees may invoke any remedies permitted
by this security instrument without further notice or demand on Mortgagor.
Hereby releasing and waiving all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
WITNESS MY HAND this
STATE OF WYOMING
County of Johnson
/~:;"~ay of Ma~,, ~¢3
~.~/-'~ KATH-LEEN ~, MILLER
//T_l~foregoing instrument was acknowledged before me by KATHLEEN A. MILLER
this/~"-day of May, 2003.
~~~8¢...d~.~.~:['fi c i a I seal.
My Commission Expires:
3