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HomeMy WebLinkAbout895351:' _4I 895351 ......... MORTGAGE RECEIVED LINCOLf'-! COUbIT'( CLERK '- ' ? NER , ~ -, .?,,,,, ,r)fv! CRAIG WELLS STEED of Auburn, Lincoln County, Wyoming and JASON MILLER, of Denver, Colorado, mortgagors, to secure the payment of Seventy - Five Thousand Dollars ($75,000.00) due with interest thereon at the rate of five percent (5%) per year (said sum and the interest thereon, being refen-ed to as the indebtedness), payable in accordance with the provisions of that certain promissory note, dated October 24, 2003, hereby mortgage and warrant to STANLEY STEED, or his heirs or assigns, mortgagee, of Auburn, Lincoln County, Wyoming to-wit: LOts Three (3) and Four (4) in Block Sixteen (16) in the Auburn Townsite, as the same is platted and of record in Lincoln County, Wyoming. EXCEPTING THEREFROM that property deeded to Shelby and Mary Jo Steed, husband and wife, by deed dated August 17, 1982 and recorded in the Office of the Lincoln County Clerk on August 19, 1982, in Book 190 of Photostatic Records on Page 596. COMMENCING at the South Quarter corner of Section 4, Township 32 North, Range 119 West, 6"' P.M., Wyonfing, and running thence North 138 rods, thence East 40 rods, thence South 138 rods, thence West 40 rods to the place of beginning. .. EXCEPTING THEREFROM that property deeded to Rollin Wade Johuson and Vicki L. Johnson, husband and wife, dated December 6, 1978 and recorded on December 11, 1978, in book 151 of Photostatic Records on Page 300. AND; EXCEPTING THEREFROM that property deeded to Billy Lynn Johnson and Janette Lynn Johnson, hUsband and Wife, dated December 20, 1982 and recorded in the Office of the Lincoln County Clerk on December 22, 1982, in Book 195 of Photostatic Records on Page 427. 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, then the whole indebtedness shall, at mortgagee's option, become due and payable forthwith, and ~nortgagee may foreclose this modgage either by adve~iisement and sale of the premises as provided by statute, or by an action in equity. Out of the proceeds of any foreclosure sale, mortgagee shall retain or receive all sums due to it hereunder, and costs Mortgage Steed Page 1 of 3 of foreclosure and sale including attorney fees in an amount equal to ten Percent of the indebtedness remaining unpaid at the time of such sale, the same to be taxed as costs in any equitable action brought to foreclose this mo~lgage. To fully assure mo~Xgagee the benefit of the security interests in the premises granted to it hereunder, moagagors hereby assign to mortgagee all rents hereafter payable fbr the use and occupancy of the Premises by au person in possession thereof with mortgagors' consent. If default occurs in any of the covenants and agreements herein contained, whether or not mortgagee elects to foreclose this mortgage on account thereof, mm~gagee shall at once be entitled, and is hereby authorized, to collect the rents fi'om 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, mmlgagee 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. Ifmo~lgagors should fail to surrender such possession to mortgagee promptly upon its request therefore, mortgagee may comPel delivm~ thereof by an ejectment action or other civil proceeding appropriate to that purpose. FmXhem~ore and in addition to the remedies otherxvise provided for in this mortgage and by law, and as a matter of right, without regard to the solvency or insolvency'of mortgagors, the value of the premises, or the sufficiency thereof to discharge the indebtedness and costs of foreclOsure and 'sale, mortgagee shall be entitled to a receiver for the premises and the rents, issues and profits thereof from tl~e time of defhult to the expiration of any redemPtive period provided by law. Such receiver may be appointed by any court of competent jurisdiction upon ex pmle application, without Mortgage Steed Page ~ of 3 860 notice, notice being hereby waived and the appointment of a receiver upon such application being hereby consented to by mortgagors. Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. WITNESS our hands this '24m day of October, 2003. STATE OF WYOMING COUNTY OF LINCOLN SS. The foregoing instrument was acknowledged before me this 24'h day of October, 2003 by CRAIG WELLS STEED. N'ICKI ANGLESEY" NOTARY PUBLIC ~ ~~,..,,,,.,,~.~. NOTARY PUBLIC' ~--- ~ My COmmission Expires: STATE OF COLORADO ) · ~ ) SS. The fore nstrument was acknowledged before me flfis=~,,~ day of October, 2003 by JASON MILLER. My Commission NO Expires: Mortgage Steed Pa~e 3 o f 3 i.