HomeMy WebLinkAbout905459 RECEIVED 1212512004 at 10:16 AM
RECEIVING # 905459
BOOK: 575 PAGE: 734
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
MORTGAGE
TIMOTHY SCHOENHALS and ELEANOR SCHOENHALS, mortgagors, of Alpine, Wyoming, to
secure the payment of ONE HUNDRED THIRTY NINE THOUSAND EIGHT HUNDRED TWENTY THREE
DOLLARS ($139,823.00) due with interest thereon at the rate of EIGHT percent (8%) per year (said sum and
the interest thereon, being referred to as the indebtedness, total indebtedness being ONE HUNDRED FORTY
FIVE THOUSAND EIGHT HUNDRED FIFTY FOUR DOLLARS AND EIGHTY FOUR CENTS
($145,854.84) payable in accordance with the provisions of that certain promissory note, dated September 1,
2004, hereby mortgage and warrant to BILL LUSTFIELD and NANCY LUSTFIELD, mortgagees, of Wilson,
Teton County, Wyoming, the following property to-wit:
Lots 52 and 53 of the Rees Subdivision, Lincoln County, Wyoming, as described on the official
Plat thereof.
If default occurs in the payment of the indebtedness or in the payment of any installment thereof, or if
default occurs in any of the covenants and agreements hereof, then the whole indebtedness shall, at mortgagees'
option, become due and payable forthwith, and mortgagees may foreclose this mortgage either by advertisement
and sale of the premises as provided by statute, or by an action in equity. Out of the proceeds of any foreclosure
sale, mortgagees 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 of the indebtedness remaining unpaid at the time of such sale, the
same to be taxed as costs in any equitable action brought to foreclose this mortgage.
To fully assure mortgagees the benefit of the security interests in the premises granted to it hereunder,
mortgagors hereby assign to mortgagee all rents hereafter payable for the use and occupancy of the premises by
any person in possession thereof with mortgagors' consent. If default occurs in any of the covenants and
agreements herein contained, whether or not mortgagees elect to foreclose this mortgage on account thereof,
Lustfield/Schoenhals Mortgage Page 1 of 3
mortgagees shall at once be entitled, and are hereby authorized, to collect the rents from the premises and to
apply the same to the payment of the indebtedness secured hereby until such default is remedied.
In the event of foreclosure of this mortgage upon default, mortgagees shall be entitled to the possession
and enjoyment of the premises and the incident rents, issues, and profits thereof from the time of such default
and for and during the pendency of foreclosure proceedings and the period of redemption, if any. If mortgagors
should fail to surrender such possession to mortgagees promptly upon its request therefore mortgagees may
compel delivery thereof by an ejectment action or other civil proceeding appropriate to that purpose.
Furthermore and 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 mortgagors, the value of the premises, or the
sufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, mortgagees shall be entitled
to a receiver for the premises and the rents, issues and profits thereof from the time of default to the expiration
of any redemptive period provided by law. Such receiver may be appointed by any court of competent
jurisdiction upon ex parte application, without notice, notice being hereby waived and the appointment of a
receiver upon such application being hereby consented to by mortgagors.
Hereby releasing and waiving all rights un. de, r~ by virtue of the homestead exemption laws of the State
of Wyoming. Q'~'~
Witness our hands this 1st day of October, 2004.
ELEANOR SCHOENHALS
Lustfield/Schoenhals Mortgaffe Page 2 of 3
STATE OF WYOMING )
) ss.
COUNTY OF ~ ~'~""~' N )
The foregoing instrument was acknowledged before me by TIM SCHOENHALS and ELEANOR
SCHOENHALSthis~day December ,2004, ~'C._.__
Witness my hand and official seal.
NOTARY PUBLIC
My Commission Expires:
County o! State o!
~Teton ~N¥oming
MY c°rnmlSsl°n~EXPires 9/12/2007
Schoenhals/Lustfield Mortgage Page 3 of 3