HomeMy WebLinkAbout892655 RECEIVED
~'(D'OK 531 PRPAGE 5 ~ 9 ~¢o,O~',5' 'LINCOLN COUNTY CLERK
WILLI~ R. THOMPSON ~D LINDA L. THOMPSON,
BOX 184, AFTON, WY 83110, (herein ~olleo~ively called "MORTG~'~O~['~[ft~
p~vment o~ Fifty Seven Thousand Five Hundred Dollars ($57,500.00), wi~h
interes~thereon, as provided in and evidenced bV a promissorv note of even da~e herewith (~he
ultimate maturity date o~ w~oh is ~he 3rd dav o~ October, 2003) and all renewals,
modification ~nd extensions ~he~eo~, do herebv m0r~gage un~o Bruce R. Nelson and
Earlene V. Nelson, TrUstees of the.Nelson Family Trust dated
of P.O. Box 3325, Fountain Green, UT 84632 (h~reJn called "MORTGAGEE"), ~he
~Ol[owing described real prope[~v, situate i~ th[e Coun~v o~ Lincoln, Sta~e of Wvoming, herebv
releasing and w~ving ali rights under ~d bV virtue o~ the homestead exemption lawso~ the
S~ate of Wvoming, to-wit:
A tract of land lying in the s~sw~ of Section 7, T31N RllSW of the
6th P.M., Lincoln County, Wyoming, being more particularly described
as follows:
BEGINNING at a point which 'is 25.82 feet N 89o15, E from the
Northwest Corner of the SE~XNW~ of said Section 7, and proceeding
thence S 89o15, W, 839.50 feet;
thence South, 434.75 feet;
thence N 89015' E, 1163.40 feet to a point on the Wyoming
Highway Department Right of Way for U.S. 89;
thenCe foil.oWing said Right Of Way line in a northwesterly
direction, 539.00 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 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
a part of the indebtedness hereby secured and shall draw interest
be added to and considered
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 sellt'he 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 ("~d~Z~day of August, 2003. ' -"h/)/
William R~ Thompson
- Lin~l~d[. T~ompson
State of Wyoming
County of Lincoln
The foregoing instrumen~q~was acknowledged before
L. Thompson this /~ ~-day of August, 2003.
Witn_ess my hand and official seal'.
I a4~'tZEY ~. I~OTN~'PU~C ·
My Commission Expires:
me by William R. Thompson and Linda
Notary Public