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C00003
MORTGAGE
K AND K INVESTMENTS, AN IDAHO GENERAL PARTNERSHIP OF 379 W. 100 N.
WESTON, ID 83286, (herein collectively called "MORTGAGOR"). to secure the payment of
ONE HUNDRED FIVE THOUSAND DOLLARS ($105,000.00), with interest thereon, as
provided in and evidenced by a promissory note of even date herewith (the ultimate maturity
date of which is the 16th day of January, 2011) and all renewals, modification and extensions
thereof, do hereby mortgage unto GLEN D. CONRAD AND CAROL A. CONRAD OF 275
APPALOOSA DRIVE, BEAR RIVER, WY 82930 (herein called "MORTGAGEE"). the following
described real property, situate in the County of Lincoln, State of Wyoming, hereby releasing
and waving all rights under and by virtue of the homestead exemption laws of the State of
Wyoming, to-wit:
That part of Section 6, T30N R11BW of the 6th P.M., Lincoln County,
Wyoming described on Exhibit A prepared by Marlowe A. Scherbel
labeled "Description for Lucille Yvonne Shortt Trust, Dated 3 June
1986, Tract An dated 23 September 1999.
MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes,
assessments and charges levied against the Property, as the same become due and payable;
to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with an insurance
carrier or carriers acceptable to MORTGAGEE, covering the insurance improvements on the
Property against loss by fire and earthquakes, with extended coverage, in an amount not less
than the unpaid balance of the debt hereby secured, or the insurable value (replacement cost)
of such improvements whichever is less, which insurance shall contain an appropriate loss
payable provision protecting MORTGAGOR and MORTGAGEE as their respective interests may
appear from time to time. In the event MORTGAGOR fails to pay such taxes or assessments,
or fails to keep and maintain such insurance as herein provided, MORTGAGEE may pay such
taxes and assessments and may secure and pay for such insurance, and all sums so paid shall
be added to and considered a part of the indebtedness hereby secured and shall draw interest
at the same rate.
In case default shall be made in the payment of the above sums hereby secured, or in
the payment of the interest thereon, or any part of such principal or interest, when the same
shall become due; or in case of default shall be made in any of the covenants and agreements
thereof, or in the event MORTGAGOR sells or conveys the Property, or any part thereof, or
any interest therein, without the prior written consent of the MORTGAGEE first had and
obtained, then the whole indebtedness hereby secured, with interest thereon. shall become
due and payable, atthe option of MORTGAGEE, and MORTGAGEE'S legal representatives and
assigns, may proceed by advertisement and sale/or as otherwise authorized by governing law,
to foreclose on and sell the Property, and out of the proceeds of such sale, MORTGAGEE shall
pay all sums due hereunder, together with all costs of sale including reasonable attorney's
fees. If the proceeds of the foreclosure sale are insufficient to pay the indebtedness hereby
secured· and foreclosure costs, MORTGAGEE shall be entitled to a deficiency judgment.
In the event of any default whereby the right of foreclosure occurs hereunder,
MORTGAGEE shall at once become entitled to exclusive possession, use and enjoyment of the
Property, and to all rents, issues and profits from the accruing of any such rights and during
the pendency of the foreclosure proceedings, and the period of redemption, if any there be.
MORTGAGOR warrants title to the Property as to parties claiming, by through or under
the MORTGAGOR only.
.¡/.,
Witness our hands this ~ day of January, 2006.
K AND K INVESTMENTS
ß -rf) 7¿ .
Brent D. ï<iñi Partner
RECEIVED 1/18/2006 at 4:02 PM
RECEIVING # 915311
BOOK: 610 PAGE: 3
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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000004
State of Utah )
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County of {}.¡uþ I
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The foregoing instrument was acknowledged before me by Brent D. King this --1.J.Il- day of
January, 2006.
Witness my hand and official seal.
My Commission Expires:
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