HomeMy WebLinkAbout894419 RECEIVED
.;~._.,~_5,~_r~..,,'.~,~- 4 5 6 LINCOLN COUNTY CLERK
03 OET
MORTGAGE DEED WITi~} ~]A~E OF HOMESTEAD
Thomas B. Ryan_ and Marilyn M. Ryan Mort§agor(s), of Wasatch County,¢
secure payment of thirteen thousand four hundred and no/100 Dollars
($..13,400.00 ), due. September I, 2013 , with interest from July4, 2003 at therate often percent
per annum payable monthly, evidenced by Promissory Note of even date herewith, in monthly installments of one hundred
seventy-seven and 8/100 Dollars ($ 177.08 _) each, including interest, commencing on the
1st day of September ,2003 and continuing on the same day of each month thereafter, do(es) hereby mortgage
and warrant to LEISURE VALLEY, INC., a Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the tbllowing
described real property in the County of Lincoln, State of Wyoming:
Star Valley Ranch RV Park Plat 2 Lot 636
Mortgagor(s) agree(s) 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(s) to pay such taxes or assessments, Nlortgagee may pay the same, and all sums paid by Mortgagee for such
purpose shall be added to and considered as a part of the indebteduess and shall draw interest at the same rate.
If default occurs in tile payment of the indebtedness or itl tile 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 tile 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 m 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(s) 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 covenants and agreements herein contained or under the aforesaid Promisso~3, Note, whether or not
Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize(s) Mortgagee to collect the rents from tile
'premises and to apply tile same to the payments on the indebtedness secured hereby until such default is remedied.
In the eveut 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 pmpo.se. Furthermore, m addition to the remedies
otherwise provided for in this mortgage and by law and as a matter of right without regard to the solveucy o,' insolvency of Mortgagor(s),
the value of tile 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 fi-om tile time of default to tile 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).
MORTGAGOR(S) HEREBY RELINQUISH(ES) AND WAIVE(ES) all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
Dated this 4th day of July ,2003
MORTGAGOR(S):
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
On this 4th day of July , 2003
Ryan and MarilynM. Ryan
who executed the foregoing instrument, and acknowledged that they
including the release and waiver of the right of homestead.
before me personally appeared Thomas B.
known to me to be the person(s) described in and
executed the same as their free act and deed,
WITNESS my hand and seal.
My commission expires _
N A PUB,L1C i_n)_a_n_~}o_ r_ _sa_i~ _Co_u~ nt_y_an_d_ S~ta.._te