HomeMy WebLinkAbout894475 LINCOLN coUNTy
0LERK
~ .MORTGAGE ~J E ~,~ N ~ ~A/AONE ~
a James Fred Burgman and Karen Ma~ Burgman, ~2sband and Wife, OF Lincoln
County, Wyoming, (herein co~lectiVeJy called MORTGAGOR ), to secure the payment of Seven
Thousand and 00/100 :Dollars ($7,000.00), with interest thereon, as provided in asd
evidenced by a promissory note of eves date herewith (the ultimate maturity date of which is the
15th day of December, 2006) and all renewals, modification and extensions thereof, do hereby
mortgage unto Dexter Gardner and Dee Ann Gardner of 44 Happy Valley Lane, Afton,
Wyoming (herein called "MORTGAGEE"), the following described real property, situate is the County
o[ Lincoln, State of Wyoming, hereby releasisg and waving all rights usder and by virtue of the
homestead exemption laws 'of the State of Wyoming, to-wit:
Lot 90 of the Star Valley Ranch Plat 5, Lincoln County, Wyoming as
described On the official plat thereof.
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 Unl~aid 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 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 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 tliereon, shall become due and payable, at the 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 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
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
State of Wyoming
County of Lincoln
day of
, 2003.
- Jam e ~'-FFe~,I~ rg m a n
ren IVey Burgman
The foregoing instrument was ~o~ before me by James Fred Burgman and Karen May
Burgman this /tO day of ~ , 2003.
Witness my hand and official seal.I~'i~BONNIEHARMnN-Nm'~v~"°'"'
My Commission Expires: ~ -- x,i,s /7,,>,~