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MORTGAGE
.Jewett Const!'uctioll, lne.. 811 Arizona CO 'IIoration, of 10939 N, Alpine Hwy 11128
Highland, UT 84003, (herein collectively called 'MORTGAGOR"), to secure the
payment of $170.000.00, with interest thereon, as provided in and evidenced by a
promissory note of even date herewith (the ultimate maturity date of which is August 4,
2008) and all renewals, modification and extensions thereof, do hereby mortgage unto
Ellis Family Partnership, Ltd. of 1699 E, 6525 South Salt Lake City, UT 84121 (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 of the State of Wyoming, to-wit:
,Pal·t ofTrad 82. Towflshi{l24 \1011h, Range 119 West, (ju'I',I\-1., in the Town of
Col'I~"ilJe, Lilll~oln County, W)'tllning, said (ml'l'c! b('ing more {laJ'ticnlarly deseril)('(l ¡IS
follows:
COMMENCING at the Northwest cornel' of Tract 90, Township 24 NOI'th, Range 119
West, (i'l' 1'.1\-1.. running thelH:l~ South S'Y'J(J'2S" East, 93:5.08 feet along the North line
thereof;
thence So 11th 0°49'32" West, 14:53.42 feef to the NOl'lhwesll'orncl' ot'thl' BCllett
Addition;
thence South 18"43'28" East, 235.40 feet along the West Jin(' th('reof to the POINT OF
BEGINNING, slIid point of b(~ginning lying on the Easte 'ly '¡ght-ol' WilY line of the
Union,l'acHic Hili/mati Company's Oregon ShOl'tJin(' raUrond, snid point of
beginning also 1)'Îng on the South line of Sixth Street;
thence South 89"15'28" East, 342.8:; fe('t along said South line;
thenl'e Sontll 0"44'32" West, J(iO.OO feet:
tl1l.'nce SlIlIth 89"1:5'28" East, 385.00 feet;
thenc(' South 0"44'32" West, 313.86 fe('t along said West line to a (loint on the South
liue III' the c,n. Roberts & Som Addition;
Ihelll~e South 7S"29'n" W('st, 465.3(; feet ailing said South line and the I',xfl'nsilln
thereof to a point 011 the West line of said Benett Addition aud said Eastel'ly right-
ol~wa)' line offhe Union P!ll'itic U:Ült'Oad Company's Or('gon ShoJ'tlin(' nlill'oatl;
th('ntl' North 18<'43'28" Wt~st, 819.45 reef nlong snid West lin(' and Ieastel'ly I'ight-of-
wny line to the I'OINT OF BEGINNING.
LESS /\,ND EXCEPT nny land lying within the stl'Cets IlI1d all('ys of th(' Heuett Addition
to the Town of Col<eville of' r('('ord in the O!1iCI" of the Clerk of Lincoln Coullt}' asl'llIt
No. 129.
LESS AND EXCEI"r any land lying within the streets and alleys of the c.R. Hoberts &
Sons ,A,ddition to the 'rown ofCok('ville 'ecorded Angust 13, :1985 as Instrument No,
Ci40827 ofth(' r('cords of tile Lincoln County Clerl<.
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 ofthe 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 ofthe
000363
0926686
MORTGAGEE first had and obtained, then the whole indebtedness hereby secured, with 000364
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 offoreclosure 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 ¡:::"J.
.20 çQ,
State of M;/-aJA )
~ . \,,,,, ,..J."r I. ~SS,
County of ~ I \.:A'.t
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No ublic:
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