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MORTGAGE DEED WITH RELEASE OF HOMESTEAD
KHF Builders, Inc.
Mortgagor(s), of Lincoln County, State of Wyoming , to secure payment
of Fifteen thousand three hundred dollars Dollars ($_15,300.00 ), due September 15,
2014 , with interest from September 15, 2004 at the rate of 10 .per cent per annum payable
monthly, evidenced by Promissory Note of even date herewith, in mont hi ¥ installments of Two hundred two dollars and
19/100 Dollars ($. 202.19 .) each, including interest, c~,nmencing on the 15th day of
October ,2004, and continuing on the same day of each month thereafter, do es hereby mortgage and
warrant to LEISURE VALLEY, INC., a Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the following
described real property in the County of Lincoln, State of Wyoming:
Lot 78 of STAR VALLEY RANCH PLAT FIFTEEN
as platted and recorded in thc Official Records of Lincoln County, Wyoming.
Mortgagor(s) agree to pay the indebtedness according to the terms and coqditions of that certain Promissory Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the lile of this mortgage to pay all taxes and assessments against
the premises. If Mortgagor(s) fail 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 indebtedne~,s and shall draw interest at the same rate.
If default occurs in the payment of the indebtedness or in the payment of a,ty installment thereof, or if default occurs in any of the
covenants and agreements hereof or under the aforesaid Promissory Note, then die whole indebtedness shall, at Mortgagee's option,
become due and payable forthwith, and Mortgagee may foreclose this mon§a§e 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 the M~,'tgagee 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 equitable action brought to foreclose this mortgage.
To fully assure Mortgagee the benefits of the security interest in the premises ~vanred 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 comai,~ ed 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 bc cmitled 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 for d~at 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 tiln¢ 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).
MORTGAGORS(S) HEREBY RELINQUISH AND WAIVE .... all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
Dated this--r~ ~-'A/ day of ~ O~-~/~/ff~:' , 2004.
/
MORT~ORS: ~/ J
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
~V~% ~___~Lff~,~ ~, Ofand ~r)_~.(.~. !,~ (,,., 2004, before me
person(s) des~ibed ~ and who executed the ffregoing instrument, ami acknowledged that ~
free act and deed, ~clud~g the release and waiver of the nght of homestead.
.......
My co~ission czpbes
personally appeared
known to me to be the
executed the same as
NOTARY PUBL1C in ~nd ffrjaid County and State
RECEIVED 11/29/2004 at 4:51 PM
RECEIVING # 904862
BOOK: 573 PAGE: 594
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY