HomeMy WebLinkAbout918840
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Kenneth D. Naylor, Trustee of The Kenneth D. Naylor Revocable Traut dated
March 30, 2001 and Kenneth D. Naylor and Katherine F. Naylor of 7625 S; Keswick
Road Sandy, Utah 84093 , (herein collectively called 'MORTGAGOR"), to secure the
payment of$130,000.00, with interest thereon, as provided in and evidenced by a
promissory note of even date herewith (the ultimate maturity date of which is August
25,2013 ) and all renewals, modification and extensions thereof, do hereby mortgage ooto
of .James Charnholm and Karen Charnholrn , 3823 E. Brockbank Dr. Salt Lake City,
Utah 84124 (herein called "MORTGAGEEj, the following described real property,
situate in the County of Lincoln, State of WY, hereby releasing and waiving all rights
under and by virtue of the homestead exemption laws of the State of Wyoming, to-wit:
Lot 4 of Star VaJley Ranch Plat 21, Lincoln County, Wyoming as described on the
official plat tiled on October 22, 1982 as instrnment No. 586332 of the recoros of the
Lincoln County Clerk.
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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 Joss 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 swns so paid shan be
added to and considered a part of the indebtedness hereby secw-ed 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 th,~ prior written consent of the
MORTGAGEE first had and obtained, then thl} whole indebtedness hereby secured, with
interest thereon, shall become due and payable, at the 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.
Witness our hands this May 23, 2006
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RECEIVED 5/26/2006 at 4:14 PM
RECEIVING # 918840
BOOK: 621 PAGE: 352
JEANNE WAGNER
LINCOLN COUNTY CLERK KEMM
' ERER, wY
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State of Utah
County of .
Sworn to, subscribed and acknowledged before me this ~ day of 'f'f) f1 Y 20 0 Co
by 1< E)\ N~ì1\ \b l1A-Ÿ'L.OR AAO kl4ì¡;¡¡ ft"-~f ~ L ~1~)-40D
who is personally known to me or who has produced .
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as identification.
Notary Public:
My commission expires: