HomeMy WebLinkAbout908206 RECEIVED 5/6/2005 at 2:45 PM
RECEIVING # 908206
BOOK: 584 PAGE: 791
JEANNE WAGNER
UNCOLN COUNTY CLERK, KEMMERER, WY
MORTGAGE
JAY PERRY, Mortgagor, of Afton, Lincoln County, Wyoming, to secure the
payment of One Hundred Seventy-Five Thousand Dollars ($175,000.00) due with interest
thereon at the rate of six and one-half percent (6.5%) per year (said sum and the interest
thereon, being referred to as the indebtedness), payable in accordance with the provisions
of that Co ' .
ntract--I-er ,..ccd, dated ~ ,9' ,2005, hereby mortgage and warrant unto
MARC BARRUS and LINDA BARRUS, husband and wife, Mortgagees, or assigns, of
Afton, Lincoln County, Wyoming to wit:
Commencing at a point two rods South of the Northwest corner of Lot
Three (3) in Block twenty (20) of the Afton Townsite Survey and running
thence East ten (10) rods; thence thence South four (4) rods; thence West
ten (10) rods; thence North fOur (4) rods to the place of beginning.
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
(10%) 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, Mortgagor hereby assigns to Mortgagees all rents hereafter
payable for the Use And occupancy of the premises by an person in possession thereof
with Mortgagor's 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, Mortgagees shall at once be entitled, and is 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.
Mortgage
Perry/Barrus
Page I of 2
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 Mortgagor 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 Mortgagor, 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 Mortgagor.
Hereby releasing and waiving all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
WITNESS our hands this O~/' day offS, 2005.
STATE OF WYOMING
COUNTY OF LINCOLN
The foregoing instrument was acknowledged before me by JAY PERRY,
Mortgagor, this ~/ day of ~, 2005.
My Co~, ?
Mortgage
Perry/Barrus
Page 2 of 2