HomeMy WebLinkAbout903233 MORTGAGE DEED WITH I LEASE OFfi6 ' ;TEAD
Freddie L. LaRose and Debo fi, . a ' s Mortgagor(s), ofWet~ Cmi'~yl:~': n~,;, ~,.
State oFWyo~ing to secure payment of~elve
thousand s~ hundred and no/100 Dollars ($12,600.00) due AUgust 1 2014 with ~nterest from July 10, 2004at the rate often
per cent per annum payable monthly, evidenced by Promisso~ Ndte of even ate herewli~; ~n monthly installments of one
hundred s~-s~ and 51 /100 Dollars ($166,51) each, including interest, commencing on the 1 ~ day of September, 2004 and
continuing on the same day of each month thereafter, do(es) hereby mortgage and wanant to LEISU~ VALLEY, ~C., a
Nevada Co~oration, Mortgagee, of Lincoln Count, Wyoming, the following described real property in the County of
Lincoln, State of WyomMg:
2
Star Valley Ranch RV Park Plat 2 Lot 608
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 oFthis 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 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 o£ 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 ~dvertisement 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 (I 0%) 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 any person in possession thereof with Mortgagor'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 foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize(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 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 lbr 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 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 parte application without 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 10m day of July, 2004
MORTGAGOR(S):
STATE OF WYOMING )
COUNTY OF LINCOLN )
On this 10th day of July, 2004 before me personally appeared Freddie L. LaRose and Deborah R. LaRose and 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.
NOTARY PUBLI:C in and for said County and State
My commission expires ~ ~o~) ~
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