HomeMy WebLinkAbout928028
6010616328
RECEIVED 3/30/2007 at 3:42 PM
RECEIVING # 928028
BOOK: 653 PAGE: 40
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
000040
.
U
..J
..J
;>., .
.0 bl)
~
¡¡:¡ ';:J
'1:;1 r::
,..'" (:>
() ;»-,
~rJ;~
b!J 'õ g
.5 ~ >.
(1) ~ '"
..oev
'" u ~
'- '" ::!
... f.L1 0
f¡ "0 u
8 r:: .,¡
..i <,j ~
<:; (1)
c· '¡.J
-~, f.:;
VJ
.~ <1)
..r.~ u
f-. .~
~
-----....-
MORTGAGE
Brad Peterson and ]~aurle Peterson, Husband and 'Wife, of Morgan, Utah 84050,
(herem collectively called 'MORTGAGOR"), to secure the payment of $500,000,00,
with Ìnterest thereon, as provided in and evidenced by a promissory note of even date
herewith (the ultimate maturity date of which is March 1, 2017) and all renewals,
modification and extensions thereof, do hereby mortgage unto Alvin L. Robmson and
Ahce L. Robmson, Trustees of the Alvin and Alice Robmson Family Trust dated ApriJ
10, 1997 of P.O Box 677 Afton, WY 83110 (herem called "MORTGAGEE"), the
foltowing described real property, situate 111 the County of Lincoln, State of WY, hereby
releasing and waiving alt rights under and by virtue of the homestead exemption laws of
the State of Wyoming, to-wit:
Lot 1 of Homestead At The Narrows, Lincoln County, Wyoming as described on the
otUcial plat fi.1t\d on March 13, 2007 as instrument No. 927551 of the records of the
Lincoln County Clerk.
MORTGAGOR agrees to pay the l11debtedness 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 canier or catTÎers 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 appI'opriate loss payable provÌsion protecting MORTGAGOR
atId MORTGAGEE as theIr respectIve interests may appear fi'om time to time. In the
event MORTGAGOR fails to pay such taxes or assessments, or fails to keep and
maintam 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 atId shall draw interest
at the same rate.
In case default shall be made ill 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 wntten consent of the
MORTGAGEE first had and obtained, then the 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 aut hod zed by governing law, to foreclose on and selt the Property,
and out of the proceeds of such sale, MORTGAGEE shall pay all sums due hereunder,
together with all costs of sale includmg 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 exc1usÌve possession, use and enjoyment
of the Property, and to all rents, issues and profits ftom the accming 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 wIder
the MORTGAGOR only,
day of March, 2007,
Ç1j), IJ Jd (J ~i k) ð-1.7
Lau Petersoñ
State of Utah
Cmmty of Morgan
The foregoing instnnnent was acknowledged before me this 28th day of
March 2007 by Brad Peterson and Laurie Peterson
Wit ss haÍ1d d off~cial
11~'t