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BOOK: 6f2-"''''''''- PAGE: 454
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, that RIVER BEND MEADOWS, LLC,
a Wyoming Limited Liability Company, as "Mortgagor", 190 Newport Center Drive # 100,
Newport Beach, California 92660, hereby mortgages to ROLAND MAX STEADMAN, JR.
and DIANN S. STEADMAN, as "Mortgagees, 693 Park Avenue Logan, Utah 84321, the
following described real property, situated in the County of Lincoln, State of Wyoming:
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The property referred to in the Deed that was recorded in Book 462 PR on Page
331 as Instrument No. 872573, and a portion of the property referred to in the Deed that
was recorded in Book 277 PR on Page 188 as Instrument No. 707254, and a portion of
the property that was recorded in Book 277 PR at Pages 190 and 191 as Instrument No.
707255, in the land records of Lincoln County, Wyoming, said property being within the
NEl/4 of Section 10, T34N, Rl19W, of the 6th P.M., Northwest from Thayne, Lincoln
County, Wyoming, the boundary and area more particularly described as follows:
PARCEL 1:
Beginning at an Iron Pipe marking the Northeast comer of said property in Book
462 PR on Page 331, said Northeast comer being 1710.75 feet S64°29'57"W from the
B.L.M. type monument found marking the Charles V. King PEILS 590 location for the
Northeast comer of said Section 10; thence SI°09'59"W along the East line oflast said
Property, 986.66 feet to the Southeast comer of last said Property; thence N82°48'59"W
along the South line of said Property, 458.63 feet to the Southwest comer of last said
Property; thence N3°29'35"W along the West line oflast said Property, 793.45 feet to the
Northwest comer oflast said Property; thence North 137.12 feet; thence East 283.13 feet,
to the Point of Beginning.
PARCEL 2:
The right of ingress and egress, as described in the Deed recorded in Book 462 PR
on Page 331 and in Book 480 PR on Page 737.
Together with all water rights, mineral rights, and improvements and
appurtenances thereon situate or in anywise appertaining thereunto.
Subject to all covenants, easements, exceptions, restrictions, reservations and
rights of way of sight or record.
including all buildings and improvements thereon or that may hereafter be erected thereon;
together with hereditaments and appurtenances and all other rights thereunto belonging, or in
anywise now or hereafter appertaining, and the reversion and reversions, remainder and
remainders, rents, issues, and profits thereof, and all plumbing, heating, and lighting fixtures and
MORTGAGE
RIVER BEND MEADOWS, LLC I STEADMAN
PAGE 1 OF 5
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equipment now or hereafter attached to or used in connection with the premises.
This Mortgage is to secure the payment of the principal sum of Two Hundred Thirty-Four
Thousand Dollars ($234,000.00), with interest thereon as evidenced by a Promissory Note dated
of even date herewith to the order of Mortgagees,
Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead
laws of the State of Wyoming and covenants that it is lawfully seized of the premises, and that
the premises are rree rrom all encumbrances, and hereby covenants to warrant and defend the
title of the premises against the lawful claims of all persons whomsoever.
Mortgagor covenants with Mortgagees as follows:
1. In case of default in any of the payments stipulated in the note, Mortgagor,
as further security for this Mortgage and the Note secured thereby, hereby assigns, sets
over, and conveys to Mortgagees all rents, issues, and profits rrom the property.
2. To pay promptly, when due, the principal and interest and other sums of
money provided for in said Note and this Mortgage, and to pay the taxes, assessments,
levies, liabilities, obligations, and encumbrances of every nature on said property,
3. To perfonn, comply with, and abide by each and all of the agreements,
stipulations, conditions, and covenants, set forth in said Note and this Mortgage.
4. Failure by the Mortgagees to exercise any of the rights or options herein
provided shall not constitute a waiver of any rights or options under said Note or this
Mortgage accrued or thereafter accruing.
5. Nothing shall be done on or in connection with the property that may
impair Mortgagees' security hereunder; Mortgagor shall not commit, pennit or suffer any
waste, impainnent or deterioration of the property, nor any part thereof, and the property
shall be continuously maintained in. good and sightly order, repair, and condition by
Mortgagor at their expense.
6. In case Mortgagor defaults in the payment of taxes, assessments, water, or
other governmental or municipal charges, or other lawful charges as herein provided,
Mortgagees may (after notice and demand delivered to Mortgagor) pay the same, and in
case of any failure on the part of Mortgagor to comply with the covenants of this
Mortgage, Mortgagees may effect such payments or repairs as it may reasonably deem
necessary to protect the property, at the expense of Mortgagor. Mortgagor shall repay
such sums so paid and all expenses so incurred by Mortgagees, with interest thereon rrom
the date of payment, at ten percent (10%) per annum, and the same shall be a lien on the
premises and be secured by the Note and by these presents; in default of making such
repayments the whole amount hereby secured if not then due shall, if Mortgagees so
elect, become due and payable forthwith, anything herein contained to the contrary
MORTGAGE
RIVER BEND MEADOWS, LLC I STEADMAN
PAGE 2 OF5
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notwithstanding.
7. In case default is made (and not remedied by Mortgagor within thirty (30)
days after delivery of written notice and demand by Mortgagees) in the payment, when
due, of the indebtedness hereby secured, or in case of breach of any covenant or
agreement herein contained, the whole of the then indebtedness secured hereby, inclusive
of principal, interest, arrearages, taxes, assessments, water charges, expenditures for
repairs or maintenance, together with all other sums payable pursuant to the provisions
hereof, shall become immediately due and payable, at the option of Mortgagees, anything
herein before or in the Note contained to the contrary notwithstanding. Any failure to
exercise such option shall not constitute a waiver of the right to exercise the same at any
other time; and it shall be lawful for Mortgagees to proceed to enforce the provisions of
this Mortgage either by suit at law or in equity, as it may elect, or to foreclose this
Mortgage by advertisement and sale of the premises, at public auction for cash, according
to Wyoming statutes governing mortgage foreclosures, and cause to be executed and
delivered to the purchaser or purchasers at any such sale a good and sufficient deed or
deeds of conveyance of the property so sold, and to apply the net proceeds arising from
such sale first to the payment of the costs and expenses of such foreclosure and sale,
including a reasonable attorney's fee, and in payment of all moneys expended or
advanced by Mortgagees pursuant to the provisions of this Mortgage, and then to the
payment of the balance due on account of the principal indebtedness secured hereby,
together with interest thereon and the surplus if any, shall be paid by Mortgagees on
demand to Mortgagor. In case Mortgagees fail promptly to foreclose on the happening of
any default, it shall not thereby be prejudiced in its right to foreclosure at any time
thereafter during which such default continues, and shall not be prejudiced in its
foreclosure rights in case of further default.
8. In case of any default (not remedied by Mortgagor within thirty (30) days
after delivery of written notice and demand by Mortgagees) whereby the right of
foreclosure occurs hereunder, Mortgagees shall become entitled to exclusive possession,
use, and enjoyment of all property, and to all rents, issues, and profits thereof, from the
accruing of such right and during the pendency of foreclosure proceedings and the period
of redemption, if there is any, and such possession, rents, issues, and profits shall at once
be delivered to Mortgagees on request, and on refusal, the delivery of such possession,
rents, issues, and profits may be enforced by Mortgagees by any appropriate civil suit or
proceeding, including action or actions in ejectment, or forceable entry, or unlawful
detainer; and Mortgagees shall be entitled to a receiver for the property and all rents,
issues, and profits thereof, after any such default, including the time covered by
foreclosure proceedings and the period of redemption, ifthere is any, and shall be entitled
thereto as a matter of right without regard to the solvency or insolvency of Mortgagor or
the then owner of the property, and without regard to the value of the property or the
sufficiency thereof to discharge the mortgage debt and foreclosure costs, fees and
expenses; and such receiver may be appointed by any court of competent jurisdiction on
ex parte application and without notice (notice being hereby expressly waived, and the
appointment of any such receiver on any such application without notice being hereby
MORTGAGE
RIVER BEND MEADOWS, LLC / STEADMAN
PAGE30FS
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091.6031
2006.
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consented to by Mortgagor on Mortgagor's own behalf), and all rents, issues, profits,
income, and revenue of the property shall be applied by such receiver, according to law
and the orders and directions of the court.
9. Notwithstanding any other provision of this Mortgage, Mortgagor shall
not have any personal liability for any deficiency under this Mortgage. Mortgagees' only
recourse shall be against the property encumbered by this Mortgage. In the event the
property is sold under foreclosure and the proceeds are insufficient to pay the total
indebtedness secured hereby, Mortgagees shall not be entitled to any deficiency judgment
against Mortgagor.
10. Mortgagor may not conveyor transfer any interest in or encumber the
described premises without the prior written consent of the Mortgagees. Mortgagor must
give Mortgagees written notice of Mortgagor's intent to conveyor transfer any interest in
or to encumber the described premises at least thirty (30) days prior to the proposed
conveyance or encumbrance. If all or any part of the described premises or an interest
therein is sold, transferred or encumbered by Mortgagor without Mortgagees' prior
written consent, excluding death of a joint tenant or the grant of any leasehold interest of
three (3) years or less not containing an option to purchase, Mortgagees may, at
Mortgagees' option, declare the entire remaining balance due under this Mortgage to be
immediately due and payable and give written notice to Mortgagor thereof. After receipt
of such written notice, Mortgagor shall have thirty (30) days in which to pay the entire
remaining balance to Mortgagees.
11. The covenants herein contained shall bind, and the benefits and
advantages shall inure to, the respective heirs, executors, administrators, successors, and
assigns of the parties hereto. Whenever used, the singular number shall include the
plural, the plural the singular, and the use of any gender shall include all genders.
12. Whenever used herein, the tenns "Mortgagor" and "Mortgagees" include
all the parties to this instrument and the heirs, legal representatives, and their successors
and assigns.
IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of February 13,
RIVER BEND MEADOWS, LLC,
a Wyoming Limited Liability Company
BY: f"u. 0~
DA~SEN
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MA-NA-<::s-~
MORTGAGE
RIVER BEND MEADOWS, LLC / STEADMAN
PAGE 4 OF 5
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
County of
Oran~e
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State of California
On Ç.b. r;at~'2.00Cø ,before me,l)ér\?1~amt1~~~~'~"~';;~N~l:~~hc-
personally appeared lJàY1 0. 0 \~e..Yì
Name(s) of Signer(s)
~ personally known to me
o proved to me on the basis of satisfactory
evidence
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to be the person(s) whose name(s) is/are
subscribed to the within instrument and
acknowledged to me that he/she/they executed
the same in his/her/their authorized
capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s)
acted, executed the instrument.
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Place Notary Seal Above
WITNESS my hand and official seal.
G0~~O-JYì~
Signature of Notary Public
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OPTIONAL
Though the information below is not required by law. it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document
Title or Type of Document: M.orl~aar-
Document Date:
Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name: Dan G. Olsen, Manager of River Bend Me8dows.
o Individual
o Corporate Officer - Title(s):
o Partner - 0 Limited 0 General
o Attorney in Fact
o Trustee
o Guardian or Conservator
¡z Other: Dan Qe: Olsen , Manager of River Bënd Meadows , LLC
.
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Signer Is Representing:
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<01997 National Notary Association' 9350 De Soto Ave., P.O. Box 2402' Chatsworth. CA 91313-2402
Prod. No. 5907
Reorder: Call Toll-Free 1-800-876-6827
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