HomeMy WebLinkAbout902715 RECEIVED
!..II,.~(X')L?.,~ COU,NTY CLERK
DAVID N. STEPHENS ~D MADGE STEPHENS, OF P O BOX 101.
GROVER WY
8 ' ' " ,, ' ' ' '
3122, (herelncollectlvelycalled MORIGAGOR ),tosecurethepaymentofTHIRTY-THREE
THOUS~D DOLLARS ($33,000 00), with interest thereon, as rovided ~n and
, _ '. P evldesced
Dyapromissor note of even date herewit '
_ Y h (the ultimate maturity date of which IS the 1st day
of september, 2005) and all renewals, modification and extensions thereof, do hereb¢
mortgage unto TED N. CARLISLE of P.O. BOX
"MORIGAGEE"), the following described real property,66'situateAFTON'in theWYcouRtv83110of Lincoln,(herein calledstate
of Wyoming, hereby releasing and waving all rights under asd by virtue of the homestead
exemption laws of the State of Wyoming, to-wit:
Lot 1 of Emigrant Meadows Subdivision, Lincoln County, Wyoming as
described on the official plat No. 225-B filed October 8, 2003 as
Instrument No. 894227 of the records of the Lincoln County Clerk.
MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes,
assessments and charges levied against the Property, as the same become due and payable;
to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with an insurance
carrier or carriers acceptable to MORTGAGEE, covering the insurance improvements on the
Property against loss by fire and earthquakes, with extended coverage, in an amount not less
than the unpaid balance of the debt hereby secured, or the insurable value (replacement cost)
of such improvements whichever is less, which insurance shall contain an appropriate loss
payable provision protecting MORTGAGOR and MORTGAGEE as their respective interests may
appear from time to time. In the event MORTGAGOR fails to pay such taxes or assessments,
or fails to keep and maintain such insurance as herein provided, MORTGAGEE may pay such
taxes and assessments and may secure and pay for such insurance, and all sums so paid shall
be added to and considered a part of the indebtedness hereby secured and shall draw interest
at the same rate.
In case default shall be made in the payment of the above sums hereby secured, or in
the payment of the interest thereon, or any part of such principal or interest, when the same
shall become due; or in case of default shall be made in any of the covenants and agreements
thereof, or in the event MORTGAGOR sells or conveys the Property, or any part thereof, or
any interest therein, without the prior written consent of the MORTGAGEE first had and
obtained, then the whole indebtedness hereby secured, with interest thereon, shall become
due and payable, atthe option of MORTGAGEE, and MORTGAGEE'S legal representatives and
assigns, may proceed by advertisement and sale/or as otherwise authorized by governing law,
to foreclose on and sell the Property, and out of the proceeds of such sale, MORTGAGEE shall
pay all sums due hereunder, together with all costs of sale including reasonable attorney's
fees. If the proceeds of the foreclosure sale are insufficient to pay the indebtedness hereby
secured and foreclosure costs, MORTGAGEE shall be entitled to a deficiency judgment.
In the event of .any default whereby the right of foreclosure occurs hereunder,
MORTGAGEE shall at once become entitled to exclusive possession, use and enjoyment of the
Property, and to all rents, issues and profits from the accruing of any such rights and during
the pendency of the foreclosure proceedings, and the period of redemption, if any there be.
MORTGAGOR warrants title to the Property as to parties claiming, by through or under
the MORTGAGOR only.
Witness our hands this
day of August, 2004.
/ -/ David N. Stephens
'[~d~-'~teph e ns
State of Wyoming )
]ss
County of Lincoln )
The foregoing instrument was acknowledged before me by David N. Stephens and Madge
Stephens this ~JrW day of August, 2004.
Witness my hand and official seal.
My Com
Notary Public