HomeMy WebLinkAbout902153 _.lJ',lOOLh~ ¢OU h!-I-'/
MORTGAGE DEED WITH RELEASE OF HOMESTEAD
:Robert E. Gordon and Isobel M. Gord~'n~ort~agor(s), or _Miniha 1-Ia CounYy, State of __Snuth
Dakota ., to secure payment or eleven thousand two hundred ~?la~i:d:n6)lf0:~,] :; !:' Dollars
($11,250.00_), due June 1, 2014 , with interest from _May 18, 2004_at the rate often per chfi{ per annum payahle
monthly, evidenced by Promissory Note of even date herewith, in monthly installments of one hundred forty-eight and
67/100 Dollars ($_148.67_) each, including interest, commencing on the _1 st__ day of July ., 2004 and
continuing on the same day of each month thereafter, do(es) hereby morlgage 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:
Star Valley Ranch RV Park Plat 1 Lot 611
Mortgagor(s) agree(s) to pay the indebtedness according to the terms and conditions of that certain Promissory Note heminabove described,
executed by Mortgagor(s) to Leisure Valley, Inc., mid during the life of this mortgage to pay all taxes and assessnicuts against the prenfises. If
Mortgagor(s) fail(s) to pay such taxes or assessments, Mortgagee may pay thc same, and all sums paid by Mortgagee tbr 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 [ti thc payment of any installment thereof, or if defanlt 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
the State of Wyoming, or by an action in equity. This will be Mortgagee's sole remedy against Mortgagor(s) in case ofdethult by Mongagm(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 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(s) to
Mortgagee all rents hereafter payable for the use and occupancy of the premises by 0my person in possession thereofwifl~Mortgagor's conseait.
If default occurs in any of the covenants and agreements herein contained or under thc aforesaid Promissory Note, whether or not Morlgagee
elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize(s) Mortgagee to collect tim rents from the premises and to
apply the same to the payments on the indebtedness secured hereby until such dehult is remedied.
In the event of foreclosure of this mortgage upon default, Mortgagee shall be entitled to the possession and enjoyment of thc premises and
rents and profits thereof from the time of such default and during the pendency of foreclosure proceedings arid period of redemption, if any. If
Mortgagor(s) shall fail to sun-aider such possession to Mortgagee promptly npou its request therefor, Mortgagee may compel delivery thereof
by ejectment action or other dvil proceedings appropriate for that purpose. Fmlhcrmore, in addition to the remedies othelwhc provided for h~
this mortgage and by law and as a matter of right without regard to the solvency or i~lsolvency of Mortgagor(s), the value of tim premises or the
insufficiency thereof to discharge the indebtedness aid costs of foreclosure and sale, Mortgagee shall be entitled to receive from thc premises
the rents, issues and profits thereof from the time of default to the expiratiun of any redemptive period provided by law. A receiver may be
appo. inted by any court of competent jurisdiction upon ex pane application wifl~om 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 18th day of. May_, 2004
MORTGAGOR(S):
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
On this 18th day of_May ,2004 before me personally appeared Robert E. Gordon and isobel M. Gordon
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 flee act and deed, including [tie release and waiver of the right of homestead_
WITNESS my hand and seal.
My commission expires
Nd~ARY PUBLIC in and for said County and State
]: County of ¢~ State ot
i Lincolri "t,~ Wyoming
ML,~.~~I Expires July 28, 2007