HomeMy WebLinkAbout902359 L't-I',tCOL,"~ ¢,OL!NT'f CLFRK
MORTGAGE DEED WITH RELEASE OF-HOMESTEAD
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Dakota o to secure payment of eleven thousand two hundredi[i't~4j?'~t~in~Yf0i~ :",I "' '"'
:i_-..' :,, Dollars
($11,250.00_), due June 1, 2014__, with interest from _May 18, 2004 at the rate often per cent per annum payable
monthly, evidenced by Promissory Note of even date herewith, in monthly installments of one hundred forty-eight and
67/100 Dollars ($_148.67_J each, including interest, commencing on the_l sL day of__July ., 2004 and
continuing on the same day of each month therealter, do(es) hereby mortgage and warrant to LEISURE VALLEY, INC., a
Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the following described real properly in the County of
Lincoln, State of Wyoming:
Star Valley Ranch RV Park Plat )I Z Lot 611
31
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 life oft/tis mortgage to pay all taxes and assessments against the premises. If
Mortgagor(s) fail(s) to pay such taxes or assessments, Mortgagee may pay the same, and ali sums paid by Mortgagee for such propose shallbe
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 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 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 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 fifily assure Mortgagee the benefits of the security interest in the premises granted to it hereunder, Mortgagor(s) hereby assign(s) to
Mortgagee ail rents hereafter payable for the use and occupancy of the premises by any person in possession thereofwithMortgagor's consent.
If default occurs in any of the covenants and agreements herein contained or under the aforesaid Promissory Note, whether or not Mortgagee
elects to foredose this mortgage on account thereof, Mortgagor(s) hereby anthorize(s) Mortgagee to collect the rents from the premises and to
apply the 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 shaH be entitled to the possession and enjoyment of the premises and
rents and profits thereof fi'om the time of such default and during the pendency of foreclosure proceedings and period of redemption, if any. If
Mortgagor(s) shaH 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 purpose. Furthermore, in addition to the remedies otherwise provided for 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
insufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, Mortgagee shaH 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 parte application without notice, notice being hereby waived and appointment ora
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
STATE OF WYOMING
COUNTY OF LINCOLN
May_, 2004
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MORTGAGOR(S):
Note:
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 free act and deed, including the release and waiver, of the right of homestead.
WITNESS my hand and seal.
This is being re-recorded to
correctly reflect the Plat Number.
My commission expires ~/%°'~1C)-~
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~k~ARY PUBLIC in and for said Co~. aZ Sh~~r'° O0 0 m
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