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HomeMy WebLinkAbout903780 MORTGAGE DEED WITH Kenneth W. Su~on and V~inda L. ~m M~eor(s), of San Di cgo County.State of Califo~a to secure payment of per cent per annum payable monthly, evidenced by Promissory Notc~ ,I cvcn da[~ ~gt~,t~ th~g~y installments of one hundred tMay-two and 15/100 Dollars ($132.15) each, McludMg in lc~ cst, commencing on the I st flay ol o~o~er, 2004 and continuMg on the same day of each month thereafter, do(es) hereby m~ ,rtgage and wa~ant to LEISURE VALLEY, INC., a Nevada Co~oration, Mo~gagee, of Lincoln Count, Wyoming, th,: lhllowing described real prope~ in the Coun~ of Lincoln, State of Wyoming: St~ V~ley Ranch RV P~k Plat 2 Lot 640 Mortgagor(s) agree(s) to pay the indebtedness according to the terms m~d conditions of that certain Promissory Note hereinabove described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the l ilL. al'this mortgage to pay all taxes and assessments against the premises. If Mortgagor(s) fail(s) to pay such taxes or assessments, Mortgagee m%, 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, >1' ,my 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 m, ,~ h,,agc 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 ,5 h ~tgagce shall retain or receive all sums due to it hereunder and costs of foreclosure and sale, including attorney fees in an amount equ ;ti h }To n Percent (10%) of the indebtedness remaining unpaid at the time of such sale, and the same shall be taxed as costs in any equitable ,tn i,m brought to foreclose this mortgage. To fully assure Mortgagee the benefits of the security interest in the prem iws g~,mted to it hereunder, Mortgagor(s) hereby assign(s) to Mortgagee all rents hereat~er payable for the use and occupancy of the prcmis~s by any person in possession thereof with Mortgagor's consent. If default occurs in any of the covenants and agreements herein c{mt,~i ned or tinder the aforesaid Promissory Note, whether or not Mortgagee elects to foreclose this mortgage on account thereof, Mortgago; 6) hc~cby authorize(s) Mortgagee to collect the rents from the premises and to apply the same to the payments on the indebtedness secured hc~ cby until such default is remedied. In the event of foreclosure of this mortgage upon default, Mortgagee sh all I~e c n titled to the possession and enjoyment of the premises and rents and profits thereof from the time of such default and during the pc ~-~ d n~cy of' foreclosure proceedings and period of redemption, if any. If Mortgagor(s) shall fail to surrender such possession to Mortgagee N c,mptly upon its request therefor, Mortgagee may compel delivery thereof by ejectment action or other civil proceedings appropriate h, that purpose. Furthermore, in addition to the remedies otherwise provided for in this mortgage and by law and as a matter of right w i~ho ut regard to the solvency or insolvency of Mortgagor(s), the value of the premises or the insufficiency thereof to discharge the in&bt c,lness and costs of foreclosure and sale, Mortgagee shall be entitled to receive from the premises the rents, issues and profits thereof from t l~c time of default to the expiration of any redemptive period provided by law. A receiver may be appointed by any court of competent j,t isdiction upon ex parte application without notice, notice being hereby waived and appoxntment ora receiver upon such application being hereby consented to by the Mortgagor(s). MORTGAGOR(S) HEREBY RELINQUISH(ES) AND WA1Vl'(liS) ail rights under and by virtue of the homestead exemption laws of the State of Wyoming. Dated this 7th day of August, 2004 MORTGAGOR (~): STATE OF WYOMING COUNTY OF LINCOLN On this 7t~ day of August, 2004 before me personally appeared Kc. ti ncth W. Sutton and Valinda L. Sutto, 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 ~1~ homestead. . ' WITNESS my hand and seal. My commission expires NOT.~M~r PUBI lC in and for said County and State