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REAL ESTATE MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, that BRYCE K.
BOEHME, a single person, herein referred to as Mortgagor, of 20040 U.S.
Highway 30, Bear Lake County, Idaho, 83254, to secure the payment of the
principal sum of TWO HUNDRED EIGHTY-FOUR THOUSAND, ONE
HUNDRED FIFTY-TWO and 50/100 DOLLARS, ($284,152.50), with
interest at the rate of five and one-half percent (5.5%) figured per annum, as
evidenced by a Promissory Note dated of even date, herewith payable to the
order of DELBERT W. MARX of P.O. Box 53, Geneva, Idaho, 83238 and
CLYDE A. MARX of261 North 4th Street, Montpelier, Idaho, 83254, share
and share alike, herein referred to as Mortgagee(s), principal and interest to
be payable as follows:
$28,308.86 payable on the 1st day of March, 2008, and $28,308.86
payable on the 1 st day of March of each year thereafter, for a period
of fifteen (15) years. The Mortgagor agrees to pay $10.00 per day for
each late payment, that is made 15 days after the due date.
Mortgagor HEREBY mortgages to the Mortgagee(s), the following
described real estate, situated in the County of Lincoln, State of Wyoming,
as follows, to-wit:
Lot One (1) and Two (2), W~NE~ and NE~NE~ Section 1, T 27 N,
Range 120 Wand Lot Four (4), SW~NW~ and NW~SW~ Section
6, T 27 N, Range 119 W, 6th P.M. Wyoming. Containing 311.40
acres, more or less.
Also:
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Lot Three (3) Section 6, T 27 N, Range 119 W, and W~SE~,
E~SW~, NW~SW~ and S~NW~ Section 31, T 28 N, Range 119
W, 6th P.M. Wyoming. Containing 320.05 acres, more or less.
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Real Estate Mortgage
Bryce K Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
1
RECEIVED 2/22/2007 at 3:38 PM
RECEIVING # 926968
BOOK: 649 PAGE: 448
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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0926968
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Subject to all restrictions, reservations, covenants, town ordinances,
and easements, and right of ways, of record or vision.
Mortgagor hereby relinquishes and waives all right under and by
virtue of the homestead laws of the State of Wyoming and covenants that
he/she/they or it is lawfully seized of the premises, that he/she/they are free
from all encumbrances, and hereby covenants to warrant and defend the title
of the premises against the lawful claims of all persons whomsoever.
And the Mortgagor covenants with the Mortgagee( s) 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 Mortgagee(s) all rents,
issues, and profits from the property.
2. At the option of Mortgagee(s), this Mortgage shall become due
and payable in full in the event of the sale or transfer of the property either
by Deed or Contract for Deed, unless the Mortgagee( s) agree to same in
writing.
3. Mortgagor will pay the indebtedness as herein provided.
Mortgagor reserves the right to pay the debt in whole, or in an amount equal
to one or more yearly payments on the principal that are next due on the
note, on any date prior to maturity, without penalty.
4. Mortgagor will pay all ground rents, taxes, assessments, water
rents or costs and other governmental or municipal charges, or other lawful
charges, and will promptly deliver the official receipts thereof to
Mortgagee(s). In default thereof, Mortgagee(s) may pay the same.
5. Nothing shall be done on or in connection with the property that
may impair Mortgagee's security hereunder; Mortgagor will not commit,
pennit or suffer any waste, impainnent or deterioration of the property nor
Real Estate Mortgage
Bryce K. Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
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0926968
any part thereof, and the property shall be continuously maintained in good
and sightly order, repair, and condition by Mortgagor at hislher/their or its
expense.
6. Mortgagor will keep the improvements now existing or
hereinafter erected on the premises insured as may be required from time to
time by Mortgagee( s) against loss by fire and other hazards, casualties, and
contingencies in such amounts and for such periods as may be required by
Mortgagee( s), (in an amount of not less than the balance owed to the
Mortgagee( s)) and the Mortgagor will pay promptly, when due, any
premiums on such insurance. All insurance shall be carried in companies
approved by Mortgagee, and the policies and renewals thereof shall be held
by Mortgagee and have attached thereto loss payable clauses in favor of and
in form acceptable to Mortgagee(s). In the event of loss, Mortgagor will
give immediate notice by mail to the Mortgagee(s), who may make proof of
loss if not made promptly by Mortgagor, and each insurance company
concerned is hereby authorized and directed to make payment for such loss
directly to Mortgagee(s) instead of to Mortgagor and Mortgagee(s) jointly;
the insurance proceeds or any part thereof may be applied by Mortgagee at
hislher/their or its option either to the reduction of the indebtedness hereby
secured or to the restoration or repair of the property damaged. In event of
foreclosure of this mortgage or other transfer of title to the premises in
extinguishment of the indebtedness secured hereby, all right, title, and
interest of Mortgagor in and to any insurance policies then in force shall pass
to the Mortgagee.
7. In case Mortgagor defaults in the payment of ground rents, if
any, taxes, assessments, water, or other governmental or municipal charges,
or other lawful charges as herein provided, Mortgagee(s) may without notice
Real Estate Mortgage
Bryce K. Boehme Mortgagor and
Delbert W & Clyde A. Mortgagees
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or demand pay the same and in case of any failure on the part of Mortgagor
to comply with the covenants or Paragraph 5 hereof, Mortgagee(s) may
effect such 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 incurred by Mortgagee( s), with interest thereon from
the date of payment, at twelve percent (12%) 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 Mortgagee( s) so elects, become due and payable
forthwith, anything herein contained to the contrary notwithstanding.
8. In the event the property is sold under foreclosure and the
proceeds are insufficient to pay the total indebtedness secured hereby,
Mortgagor binds himself/herself and/or itself personally to pay the unpaid
balance, and Mortgagee will be entitled to a deficiency judgment.
9. In case default is made in the payment, when due, of the
indebtedness hereby secured, or of any installment thereof or any part
thereof, 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, ground rents, if any, 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 Mortgagee, although the period above limited
for the payment thereof may not have expired, 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 Mortgagee( s) to proceed to enforce
the provisions of this mortgage either by suit at law or in equity, as it may
Real &tate Mortgage
Bryce K Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
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elect, or to foreclose this mortgage by advertisement and sale of 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 and in payment of all moneys expended or advanced by
Mortgagee(s) pursuant to the provisions of Paragraph 7 hereof, or other
appropriate Paragraph hereof, 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 Mortgagee on demand to
Mortgagor. There shall be included in any or all such proceedings a
reasonable attorney's fee. In case Mortgagee fails 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.
10. In case of any default whereby the right of foreclosure occurs
hereunder, Mortgagee(s) shall at once 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
Mortgagee on request, and on refusal, the delivery of such possession, rents,
issues, and profits may be enforced by Mortgagee by any appropriate civil
suit or proceeding, including action or actions in ejectment, or forcible entry,
or unlawful detainer or other proper legal action; and Mortgagee( s) shall be
entitled to a receiver for the property and all rents, issues, and profits
0926968
Real Estate Mortgage
Bryce K. Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
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thereof, after any such default, including the time covered by foreclosure
proceedings and the period of redemption, if there 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 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 direction of the court.
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
shall include the plural, the plural the singular and the use of any gender
shall include all genders.
12. The Mortgagor and/or Mortgagors hereby releases and forever
quitclaims to Mortgagee(s) all his/her/their rights of homestead in and to the
above-granted or described premises.
13. Default by Mortgagor. Mortgagee(s) shall have the right to
declare the default of the Mortgagor(s) upon the Mortgagor(s) failure to
fulfill his/her/their or its obligation stated in anyone or more of the above
paragraphs, and to proceed pursuant to anyone or more of the above
Paragraphs. The Mortgage may also declare a default upon anyone or more
of the following:
Real Estate Mortgage
Bryce K Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
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(a. The failure of the Mortgagor(s) to make any payment required in
this Agreement at the time it falls due;
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(b. The failure of the Mortgagor(s) to abide by anyone of the terms
and conditions of this Agreement;
(c. The filing of a Petition for the adjudication of the Mortgagor( s), or
anyone of the Mortgagor( s), if more than one, as a bankrupt.
14. The undersigned hereby certify and guarantee and represent
he/she/or they have or it has the right and authority to sign this mortgage.
15. Notices. All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be
deemed to have been duly given (i) on the date of service, if served
personally on the Party to whom notice is to be given; (ii) or on the day of
transmission, if sent via facsimile transmission to the facsimile number
given below, and telephonic confmnation of receipt is obtained promptly
after completion of transmission; (iii) or on the day after delivery to Federal
Express or similar overnight courier or the Express Mail service maintained
by the United States Postal Service; or (iv) on the fifth day after mailing, if
mailed to the Party to whom notice is to be given, by frrst class mail,
registered or certified, postage prepaid and properly addressed, to the Party
as follows: In accord with the hereinbefore stated addresses of the parties
hereto
DATED this J/~ day of
~NJ?J~ ,2007.
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Mortgagor
Real Estate Mortgage
Bryce K. Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
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The foregoing Real Estate Mortgage was acknowledged before me
this ~I ~ day of ~ bDllàDif ' 2007 by Bryce K. Boehme.
WITNESS my hand and official seal.
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My Commission Ex ires: tJ/ -:l7-tI¡)//
Real Estate Mortgage
Bryce K Boehme Mortgagor and
Delbert W. & Clyde A. Mortgagees
8