HomeMy WebLinkAbout902149 MORTGAGE ~TH ~LEASE OF ItOMESTEAD
Thomas W. Barcklay and Sheila L. Ba o{1.g~or(s), of Davis Cot,J~: Stateol utah to secure payment of nine
thousand five hundred and no/100 Dollars ($9,500.00) due August 1,2014 witl~ !O[e~dst~from June 19~ 2004 at the rate often
per cent per annum payable monthly, evidenced by Promissory Note of even ~ ate herewith, in monthly installments of one
hundred ~enW-five and 54/100 Dollars ($125.54) each, including interest, commencing on the 1st day of August 2004 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 Ibllowing described real property in the Oounty of
Lincoln, State of Wyoming:
Star Valley Ranch RVPark Plat 1 Lot 374
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 lilb of this mortgage to pay all taxes and assessments against the
pre~nises. If Mortgagor(s) fail(s) to pay such taxes or assessments, Mortgagee may pay tile same, and all sums paid by Mortgagee for such
purpose shall be added to and considered as a part of the indebtedness and shall &aw interest at the same rate.
If default occurs iii the payment of the indebtedness or in the payment of any installment thereof, or it' default occurs in any of' the
covenants and agreements hereof or under the aforesaid Promisgo~'y Note, Ihcn the whole indebtedness shall, at Mortgagee's option,
become due and payable forthwith, and Mortgagee may foreclose this ~nortgage either by ~dvertisement and sale of the premises as
provided by the statutes of the State of Wyoming, or by an action in equity. ~lhis 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 io Ten Percent (10%) of the indebtedness remaining unpaid at
the time of such sale, and the same shall be taxed as costs in any equitable action brought to fbreelose 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 tile premises by any person in possession thereof with Mortgagor's
consent. If default ocenrs in any of the covenants and agreements herein contained or unde,- the aforesaid Pro,nissory Note, whether or nor
Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize(s) Mortgagee to collect the ~ents fi'o,n ille
premises and to apply tile same to the payments on the indebtedness secured hereby until such default is remedied.
In the event of foreclosure of'this mortgage upon default, Mortgagee shall be entided to the possession and enjoyment of tile premises
and rents and profits thereof/?om the time of such default and during the pendency of foreclosure proceedings and period o['~edemption, if
any. If Mortgagor(s) shall fail to surrender such possession to Mortgagee promptly upon its request therelbr, Mortgagee may compel
delivery thereof by ejeetment action or other civil proceedings appropriate Ibr lhal purpose. Furthermore, in addition to the remedies
otherwise provided fbr in this mortgage and by law and as a matter of right without regard to the solvency or insolvency of Mortgagor(s),
the value of the premises or the insufiSeiency 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 from thc time of default to tile expiration of any redemptive period
provided by law. A receiver ,nay be appointed by any court of competent jurisdiction upon ex parte application w,hout 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 19th day of June, 200~
MORTGAGOR(S):
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
On this 19th day of June, 2004 before me personally appeared Thomas W. Barcklay and Sheila L. Barcklay known to me
to be the person(s) described in and who executed the foregoing instrument, and acknowledged that they executed the same as
their free act and deed, including the release and waiver of the right of homestead.
WITNESS my hand and seal.
My commission expires ~ % ~'~5,
NO~I~RY PUBLIC in and for said County and State
I count,,of . st.t
i Linc61n' WyonlJFl