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000285
MORTGAGE
Scott Merrill, Sole Owner, of 5333 E Catalina Ave Mesa, AZ 85206, (herein collectively
called 'MORTGAGOR"), to secure the payment of $149,600.00 , with mterest thereon, as
provided in and evidenced by a promissory note of even date herewith (the ultimate maturity
date of which is July 31, 2008 ) and all renewals, modification and extensions thereof, do hereby
mortgage unto James and Hope Flake of 3637 E. Redfield Ct., Gilbert, AZ 85234, (herein
called "MORTGAGEE"), 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 ofthe State of Wyoming, to-wit:
Lot 20 of The Estates At Valli-Vu, Lincoln County, Wyoming as described on the official plat
filed 011 December 1, 2006 as instrument No. 924974 of the records oC the Lincoln County
Clerk.
MORTGAGOR agrees to pay the mdebtedness 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 earners
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 contam an appropriate loss payable provision protecting
MORTGAGOR and MORTGAGEE as thetr respective mterests 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 mterest 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 obtamed, then the
whole indebtedness hereby secured, with interest thereon, shall become due and payable, at the
option of MORTGAGEB, and MORTGAGEE'S legal representattves and assigns, may proceed
by advertisement and sale/or as otherwise authorized by governmg 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 mcludmg 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 nght 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.
W¡""'s~ <IUs I ~ "yof ~Aj .,[J.
~~
Scott 1VfeITiIl -
RECEIVED 2/7/2007 at 4:08 PM
RECEIVING # 926655
BOOK: 648 PAGE: 285
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Stale of A f\"2..0V\J\ )
t\A . )ss
County of I" \6\,y\C0yt\)
The ore omg In trument was acknowledged before me Ilus L day of Svb rIA axy
.20 .DJ by
oe:w Seal
A ....-
_ NIIc-S.ofAZ
3~2007