HomeMy WebLinkAbout875475 LISA A. GUSTAFSON, a single woman, of P.O. Box 3507, Alpine, County of Lincoln,
State of Wyoming 83128, Mortgagor, hereby mortgages to LEE HEIDER and JAN HEIDER,
husband and wife, of 1631 Richmond Drive, Twin Falls, County of Twin Falls, Idaho 83301,
Utah 84049, Mortgagees, for the sum of One Hundred Twenty-Five Thousand Dollars
($125,000.00), the following described real estate situate in the County of Lincoln, State of
Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead
exemption laws of the State of Wy°ming, to-wit:,, ., ' '
Plat Six (6) Lot One Hundred Fifteen (115) in Star Valley Ranch, as platted and
recorded in the official records of Lincoln County, Wyoming.
This Mortgage is given to secure the following indebtedness:
Promissory Note from Lisa A. Gustafson to Lee Heider and Jan Heider, husband
and wife, dated August 21, 2001, in the amount of One Hundred Twenty-Five Thousand
Dollars ($125,000.00), with interest at the rate of Eight Percent (8%) per annum.
The Mortgagor agrees to keep the building or buildings now on said premises or hereafter
erected thereon fully insured against loss by fire, flood, and other hazards and risks reasonably
associated with the premises due to its type and location. The insurance carrier providing the
insura~nge shall be approved by the Mortgagees, with loss, if any, payable to Mortgagees during
the life of this Mortgage. Mortgagor shall provide Mortgagees with copies of current insurance
policies on said premises during the term of this Mortgage.
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The Mortgagor also agrees to pay all taxes and assessments on said premises, and any
taxes assessed by reason of this Mortgage or the indebtedness secured thereby.
The Mortgagor also agrees to care fro the premises and the improvements thereon, and
neither commit waste, nor allow waste to be committed nor suffer anything to be done that
would impair the value of the premises.
The Mortgagor also agrees to preserve the premises and keep the same ~ee and clear
from all liens of every kind and character s° long as the debt secured hereby remains unpaid.
The Mortgagees shall have the right, at their option, to advance and pay any sum of
money that may, in Mortgagees' judgment, be necessary, to preserve the premises from
delinquent taxes or assessments, or to preserve fire insurance thereon, or to remove any lien that
may attach to the property, and any sums so paid shall be repaid to Mortgagees by Mortgagor
with interest thereon at the rate of Eighteen Percent (18%), such sum becoming a part of the
mortgage indebtedness.
If Mortgagor defaults in the payment of the indebtedness, or in the payment of any
installment thereof, or if they default in any of the covenants or agreements hereof, then, at
Mortgagees' option, the whole indebtedness shall become due and payable forthwith, and
Mortgagees may foreclose this Mortgage either by advertisement and sale of the premises as
provid~ed by statute, or by action in equity. Out of the proceeds of any foreclosure sale,
Mortgagees shall retain or receive all sums due hereunder, and the costs of the foreclosure sale,
including attorney's fees in an amount equal to ten percent of the indebtednes~ remaining unpaid
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at the time of such foreclosure sale, the same to be taxed as costs in any equitable action brought
to foreclose this Mortgage.
To fully assure the Mortgagees the benefit of the security interest in the premises granted
herein, Mortgagor hereby assigns to Mortgagees all rents and profits hereafter payable 'for use
and occupancy of the premises. If default occurs in any of the covenants and agreements herein
contained, whether or not Mortgagees opt to foreclose on this Mortgage on account thereof,
Mortgagees shall at once be entitled, and are hereby authorized, to collect the rents and profits
from the premises and to apply the same to the payment of the indebtedness until such default is
remedied.
In the event of foreclosure of this Mortgage upon default, Mortgagees shall be entitled to
possession and enjoyment of the premises, and the incident rents and profits thereof, from the
time of such default and for and during the pendency of the foreclosure proceedings and the
period of redemption, ' if any. If Mortgagor should fail to surrender such possession to
Mortgagees promptly upon request, Mortgagees may compel delivery thereof by an ejectment
action or other appropriate civil proceeding.
In addition to the remedies otherwise provided in.this Mortgage and by law, and as a
matter of right, without regard to the solvency or insolvency of the Mortgagors, the value of the
premises, or the sufficiency thereof to discharge the indebtedness and the costs of the foreclosure
and sai~, Mortgagees shall be entitled to the appointment of a receiver by any competent court.
The receiver is hereby authorized to rent the premises and apply the proceeds to this obligation.
Such receiver may be appointed upon ex parte application, without notice, such notice being
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370
waived, and the appointment of a. receiver upon such application being hereby consented to by
Mortgagor.
WITNESS my hand this,.?[ .... day of August, 2001.
STATE OF WYOMING )
)SS.
COUNTY OF LINCOLN )
On this ~/t day of August, 2001, personally 'appeared before me LISA A.
GUSTAFSON, signer of the foregoing Instrument, who duly acknowledged to me that she
executed the same as her free act and deed.
Witness my hand and official seal.
NOTARY PUBLIC
My commission expires: ?Y,~.~/~i
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