HomeMy WebLinkAbout902151MORTGAGE DEED LEASE OF tiO STE D ' CLERI(
~dcn ~. and Susan ~. ~dc~sou
Mortgagor(s), of Lincoln County, State of Wyoming ~. ~ i!JJ,,"!~, i",!;'~i'to" :sebure ............ ip.a. ~[nent of
Thirty-five thousand nine hundred seven and 00/100 Dollars ($_35,907.00 : !::5~Id6~i": June 30tl' i' 2014
with interest from June 30, 2004 at the rate of__10 pet' cent per annu~n payable monthly, evidenced
by Promissory Note of even date herewith, in monthly installments of Four Hundred seventy-four and 51/100
($ 474.51 ) each, including interest, commencing on the 30m day of
July ,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 lbllowing
described real property in the County of Lincoln, State of Wyoming:
Lot 10 of Bridger View Ranches
Mortgagor(s) agree__ to pay the indebtedness according to the terms and conditions of that certain Promissory Note heremabove
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__ to pay such taxes or assessments, Mortgagee may pay the same, and all sums paid by Mortgagee
for such purpose shall be added to and considered as a part of the indebtedness and shall draw interest at the same rate·
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 or under the afbresaid 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 pre,nises as
provided by the statutes of the 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 i'emaining unpaid
at the time of such sale, and the same shall be taxed as costs in 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_._
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 the covenants and agreements herein contained or under the aforesaid Promissory Note, whether
or not Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize Mortgagee to collect the ~ents
fi'om the premises and to apply the same to the payments on the indebtedness secured hereby until such dethult is remedied.
In the event 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 puq)ose. Furthermore, in addition to die remedies
otherwise provided for in this mortgage and by law and as a matter of right without regard to the solvency or insolvency ofMo~ tgagor(s),
the value of the 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 from the time of default to the expiration of any redemptive period
provided by law. A receiver may be appointed by any court of competent jurisdiction upon ex parle application without notice, nolice
being hereby waived and appointment of a receiver upon such application being hereby consented to by the Mortgagor(s).
MORTGAGORS(S) HEREBY RELINQUISH AND WAIVE .all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
,/
Dated this ~,ot'~ dayof
2O04.
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
...-, On this c>Q,?~ day of &&~d_.~--' , 2004, before me
person(s) described N and who executed the foregoing instrument, and acknowledged that ~
free act and deed, including the release and waiver of the right of homestead.
personally appeared
known to me to be the
· executed the same as
WITNESS my hand and seal.
My commission expires
NOTARY PUBLIC in and for said County and State