HomeMy WebLinkAbout903776 F:ZOEIVED
MOR~~%~L~EED WITH R~EEA,E O. F II~~STEAD
Martin R. Radekln and Sheila R. McMalt a~f~ . "vt'~ G N E R
Mortgagor(s), of 'County, State o£ California , to secure payment o£
. Forty-two thousand fifty-eight and 80/100 Dollars ($ 42_,058.80 ), due August 6, 2014 , with
interest from Auanast 6, 2004 at the rate of 10 .per cent per annum payable monthly, evidenced by-
Promissory Note of even date herewith, in monthly installments of Five Hundred fifty-five and 81/100
($ 555.81 ) each, including interest, commencing on the 6th day of
September ,2004, and continuing on the same day of each month thereafter, do es hereby
mortgage and warrant to LEISURE VALLEY, INC., a Nevada Corp~ration, Mortgagee, of Lincoln County, Wyoming, the
following described real property in the County of Lincoln, State of Wyoming:
Mortgagor(s) agree to pay the indebtedness according to the terms and conditions of that certain Promissory Note bereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the l i~ of this mortgage to pay all taxes and assessments against
the premises. If Mortgagor(s) fail to pay such taxes or assessments, Mo, tgagee may pay the same, and all sums paid by Mortgagee
for such purpose shah 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 f a ny 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 thc 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 equitabk, 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 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 peadency 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 tbr 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 thc ti,ne 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, notice
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 (~ d_~ day of
MORTGAGORS:
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On this ~)'/Jo day of ~_J~)~'~' It_??i/~' 2004, before
' ' '-' '_
_ . . ana~~.
person(s) described ~ and who executed the forego~g ~s~ment, and ac~owledged that
~ee a~ and deed, McludMg the release and waiver of thc right of homestead.
me personally appeared
known to me to be the
executed the same as
NOTARY PUBIJC in an/d/for said County and State