HomeMy WebLinkAbout903786 RECF~
MORTGAGE DEED
903786 0[,0C7 I!: !",': [: 29
Damnn A. Pierson
Mortgagor(s), of Riverside County , Cahformat , to secure payment of
Thirty-six thousand eighty-one dollars Dollarst'~tZ,~,l~§i.00 ·: j)~,::d~e Aueust 3, 2014 , with interest
from _ Aueust 3, 2004 at the rate of 10 per cent per annum payable monthly, evidenced by
Promissory Note of even date herewith, in monthly installments of Four Hundred seventy-six dollars and 81/100
($ 476.81 ) each, including interest, commencing on thc 3~a day of September
2004, and continuing on the same day of each month thereafter, do es hereby mortgage and warrant to LEISUR~
VALLEY, INC., a Nevada Corporation, Mortgagee, of Lincoln Co u nty, Wyoming, the following described real property
in the County of Lincoln, State of Wyoming:
- ...
Lot 48 of Bridger View Ranches
Mortgagor(s) agree to pay the indebtedness according to the terms a nd conditions of that certain Promissory Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the lil;: of this mortgage to pay all taxes and assessments against
the premises. If Mortgagor(s) fail to pay such taxes or assessments, Mot tgagce 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 ol' 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 m{3~ tgage either by advertisement and sale of the premises as
provided by the statutes of the State of Wyoming, or by an action in equity. Th is will be Mortgagee's sole remedy against Mortgagor(s)
in case of default by Mortgagor(s). Out of the proceeds of any foreclosure thc iXh, tgagee shall rdtain or receive all sums due to it hereunder
and costs of foreclosure and sale, including attorney fees in an amount equal tc~ 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 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 ady of the the covenants and agreements herein c, retained 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 i,c 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 fore~losure 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 fi,' dzat purpose. Furthermore, in addition to the remedies
otherwise provided for in this mortgage and by law and as a matter of right wi~ hour 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 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 bcmg 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 /~ /,,~ day of Y~,~ 7'-~/k/~ ~--,~ ,2004.
STATE OF ~ING )
~,e~/e'~' ) ss.
COUNTY 0F~DLN )
(,
of ~/9 7-~:~.,,t./~
and
On this /ff 7-/7~ day .'.~ , 2004, before
person(s) described in and who executed the foregoing instrument, and ac 'knowledged that
free act and deed, including the release and waiver of thc right of homestead.
me personally appeared
known to me to be the
.Z- executed the same as
WITNESS my hand an.d seal.
,.,~ Comm.#1305358
~ =~.~'~k~ NOTARY PUBLIC.CALiFORNIA
~My Com~xpites May 21,2005