HomeMy WebLinkAbout908544 RECEIVED 5/19/2005 at 11:28 AM
RECEIVING # 908544
BOOK: 585 PAGE: 665
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, VVY
MORTGAGE
00665
MDL PROPERTIES, LLC and TOM and SUE LEWIS, mortgagors, of Thayne,
Lincoln County, Wyoming, to secure the payment of Fifty Thousand Dollars
($50,000.00) due with interest thereon at the rate of six percent (6%) per year (said sum
and the interest thereon, being referred to as the indebtedness), payable in accordance
with the provisions of that certain promissory note, dated May 4, 2005, hereby mortgage
and warrant to HAMID NOORANI and CHART LANE, LLC, a California Limited
Liability Company, or there heirs, successors, or assigns, mortgagee, of Marysville,
California to-wit:
Plat 13, Lot 16 Star Valley Ranch, including all improvements thereto.
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 mortgagee's option, become due and payable
forthwith, and mortgagee 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, mortgagee 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 mortgagee 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 an person in possession thereof with
mortgagors' consent. If default occurs in any of the covenants and agreements herein
contained, whether or not mortgagee elects to foreclose this mortgage on account thereof,
mortgagee 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
Lewis / Noorani
Page 1 of 3
In the event of foreclosure of this mortgage upon default, mortgagee 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 mortgagee promptly upon its request therefore, mortgagee
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, mortgagee 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 under and by virtue of the homestead
exemption laws of the State of Wyoming.
WITNESS our hands this Ir~5~¼
day of ~f~ ct.~ ,2005.
t%r MD~?PERTIES,
SUE LEWIS
LLC
Mortgage
Lewis / Noorani
Page 2 of 3
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
The foregoing instrument was acknowledged before me this \~54-k' day of
~0~,~ 2005 by TOM LEWIS, MDL PROPERTIES, LLC.
NOTIARY PUBLI~
My Commission Expires: ~/~2-q lOc4
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
The foregoing instrument was acknowledged before me this
2005 by TOM LEWIS.
My Commission Expires: ~IZ~//8 q
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
County of ~ State of
..Lincol, . ~ Wyoming
day of
The foregoing instrument was acknowledged before me this
02~ 2005 by SUE LEWIS.
My Commission Expires: -' 7341 0°~
1(~9%t~ qday of
NOTIARY PUBLIC%
Mortgage
Lewis / Noorani
Page 3 of 3