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MORTGAGE DEED WITH RELEASE OF HOMESTEAD
000206
KNOW ALL MEN BY THESE PRESENTS that KEVIN MACKABEN and DEBRA
MACKABEN, husband and wife, herein designated as Mortgagors, of 325 East Star View Drive,
Park City, Utah, 84098, to secure the payment of the principal sum of One Hundred Fifty Five
Thousand One Hundred Fifty Eight Dollars Six Cents ($155,158.06), to be financed, with
interest as evidenced by a promissory note of even date herewith to the order of FOX
DEVELOPMENT, L.P., of 10283 State Highway 233, Kemmerer, Wyoming, 83101, herein
designated as Mortgagee, principal and interest payable pursuant to said Promissory Note as follows:
One Hundred Twenty (120) payments of One Thousand Two Hundred Eighty
Nine Dollars Forty Nine Cents ($1,289.49) each, beginning October 1,2007 and
ending October 1, 2017. On November 1, 2017, a balloon payment in the
amount of One Hundred Six Thousand Nine Hundred Ninety Dollars Seventy
Six Cents ($106,990.76) will be due paying off the entire balance of the loan.
Except as other noted, each payment shall first be applied to the interest then
accrued, and the balance shall be applied to the principal of the Note.
hereby mortgages to said Mortgagee, the following described real estate, situate in the County of
Lincoln, State of Wyoming and hereby releasing and waiving all rights under and by virtue of the
RECEIVED 10/212007 at 2:36 PM
homestead exemption laws of the State, to-wit: RECEIVING # 933663
BOOK: 674 PAGE: 206
PARCEL 1: JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
A tract of land lying bt an unplotted portion of the Town of
Kemmerer, Lincoln County, Wyoming, more particularly described
as follows:
{b
Commencing at Corner 1 of Lot 63 of the resurvey of the Township
21 North, Range 116 West of the (fh Principal Meridian, thence
bearing S70034'W, 582.8 feet to the intersection of the easterly
right-of-way of the Oregon Short Line Railroad, North Kemmerer
Branch, and the westerly boundary of Wyoming State Highway 189
right-of-way, thence S05°09'W, 713.52 feet along said westerly
right-of-way of Wyoming State Highway 189 to the true point of
beginning, being'the northeast corner of said tract from whence a
highway right-of-way marker lies N05°09'E, 227.29 feet, thence
-7 r
L
N84°51'W, 175 feet to a point on said westerly boundary of 000207
Wyoming Highway 189 right-of-way, thence N05°09'E, 95 feet
along said right-of-way to the true point of beginning; and I
PARCEL 2:
A tract ofland lying in Lot 63 of the resurvey ofT21N, R116Wof
the (/h P.M.; thence S79°34'W, 582.8 feet to a point being the
intersection of the easterly boundary of the Oregon Short Line
Railroad right-of-way alJd the westerly boundary of the Wyoming
State Highway 189 right-of-way; thence S05°09'W, 593.02 feet
along said boundary of Wyoming State Highway 189 right-of-way
to the true point of beginning; thence N84°51'W, 244.02 feet to a
point on said easterly boundary of the Oregon Short Line Railroad
right-of-way; thence S27°31'W, 324.77 feet along said railroad
right-of-way to the Southwest corner of said tract; thence S84°51 'E,
368.04 feet to said State Highway right-of-way; thence N05°09'E,
84.5 feet along said Highway right-of-way; thence N84°51'W, 175
feet; thence N05°09'E, 95 feet; thence S84°51 'E, 175 feet to said
Highway right-of-way; thence N05°09'E, 120.5 feet along said
Highway right-of-way to the true point of beginning.
Together with all buildings and improvements thereon, or which
may hereafter be placed thereon; all flXtures now or hereafter
attached to said premises; and all easements, appurtenances and
incidents now or hereafter belonging or appertaining thereto;
subject, however, to all conditions, easements and rights-of-way,
and to mineral, mining and other exceptions, reservations and
conditions of record.
Mortgagors covenant and agree with the Mortgagee as follows:
1. That they will pay the indebtedness, as hereinbefore provided. Mortgagors
may, at any time, and without the payment of any premium, fee or penalty,
make larger payments than those described hereinabove or may pay the
balance in full.
2. Mortgagors will pay all recording fees and closings closts.
3. Mortgagors and Mortgagees will prorate the property taxes for 2007 and
James E. Phillips, P.e.
822 Main Street - P.O. Box 770
Evanston, Wyoming 82931-0770
(307)-789-9370
Fox/Mackaben Mortgage
Page 2 of 7
Mortgagors will be responsible for all property taxes thereafter. 000208
4. Mortgagors have examined said premises and accept the premises in its
present condition and there are no representations, covenants or agreements
between the parties hereto with reference to said property except as herein
specifically set forth or attached hereto. Mortgagors expressly acknowledge
that they have thoroughly examined the premises, and they accept the same
in "AS IS" condition. Mortgagors expressly covenant and agree to
indemnify and hold Mortgagee harmless from any claim, loss, liability,
damage or expense resulting from any claimed deficiency on the premises.
5. Nothing shall be done on or in connection with said property which may
impair the Mortgagee's security hereunder; the Mortgagors will commit,
permit or suffer no waste, impairment or deterioration of said property nor
any part thereof, and said property shall be continuously maintained in good
and sightly order, repair and condition by the Mortgagors at their expense.
6. In the event Mortgagors default in the payment oftaxes, assessments, water,
or other governmental or municipal charges, or other lawful charges, as
herein provided, the Mortgagee may without notice or demand pay the same.
The Mortgagors covenant and agree to repay such sums so paid and all
expenses so incurred by the Mortgagee, with interest thereon from the date
of payment, at the same rate as provided in the note herein described, and the
same shall be a lien on the said premises and be secured by the said note.
7. In the event the property covered hereby is sold under foreclosure and the
proceeds are insufficient to pay the total indebtedness secured hereby, the
Mortgagors bind themselves to pay the unpaid balance, and the Mortgagee
will be entitled to a deficiency judgment.
8. Upon occurrence, with respect to any Mortgagor, Assignee, maker, endorser
or guarantor hereof, of any of the following:
(1) Calling of a meeting of creditors; application for, or appointment of,
a receiver of any of them or their property; filing of a voluntary or
involuntary petition under any of the provisions of the Bankruptcy
Act or amendments thereto; issuance of a warrant or attachment;
entry of a judgment; failure to pay, collect or remit any tax or tax
deficiency, Federal, State or local, when assessed or due; death
dissolution; making, or sending notice of an intended bulk sale;
James E. Phillips, P.c.
822 Main Street - P.O. Box 770
Evanston, Wyoming 82931-0770
(307)-789-9370
Fox/Mackaben Mortgage
Page 3 of 7
James E. Phillips, p.e.
822 Main Street - P.O. Box 770
Evanston, Wyoming 82931-0770
(307)-789-9370
000209
mortgage or pledge of any property; suspension or liquidation oftheir
usual business; failure, after demand, to furnish financial information
or to permit inspection of any books or records; default in payment or
performance of this mortgage or any other obligation to, or acquired
in any manner by payee, or if the condition or affairs of any of them
shall change as in the opinion of the Mortgagee or other legal holder
thereof, shall increase its credit risk--this mortgage and all other
obligations, direct or contingent, of any maker or endorser hereof to
payee shall become due at the option ofthe Mortgagee with notice or
demand.
(2) That in case default shall be 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 as set forth in the Promissory Note secured by this
Mortgage, the whole of the then indebtedness secured hereby,
inclusive of principal, interest, arrearages, ground rents, if any, taxes,
assessment, 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
the Mortgagee, although the period above limited for the payment
thereof may not have expired, in accordance with the terms and
conditions in said Note and any failure to exercise said option shall
not constitute a waiver ofthe right to exercise the same at any other
time, and it shall be lawful for the Mortgagee to proceed to enforce
the provisions of this mortgage either by suit at law or in equity, as it
may elect, or to foreclose this mortgage by advertisement and sale of
the above-described premises, at public venue, 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 conveyatice 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 the Mortgagee,
and then to the payment of the balance due on account ofthe principal
indebtedness secured hereby, together with interest thereon and the
surplus, if any, shall be paid by the Mortgagee on demand, to the
Mortgagor. There shall be included in any or all such proceedings, a
reasonable attorney's fee. In case the mortgagee shall fail promptly
to foreclose upon the happening of any default, it shall not thereby be
Fox/Mackaben Mortgage
Page 4 of 7
oÓo~j.O
prejudiced in its right of foreclosure at any time thereafter during
which such default shall continue and shall not be prejudiced in its
foreclosure rights in case of further default or defaults.
9. Mortgagee must provide notice in writing by certified mail to Mortgagors if
the Mortgagee elects to foreclose.
10. That in case of any default whereby the right offoreclosure occurs hereunder,
the Mortgagee shall at once become entitled to exclusive possession, use, and
enjoyment of all property aforesaid, 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 any there be, and
such possession, rents, issues and profits shall at once be delivered to the
Mortgagee on request, and on refusal, the delivery of such possession, rents,
issues, and profits may be enforced by the Mortgagee by any appropriate civil
suit or proceeding, including action or actions in ejectment, or forcible entry
or unlawful detainer, and the Mortgagee shall be entitled to a Receiver for
said property and all rents, issues, and profits thereof, after any such default,
including the time covered by foreclosure proceedings and the period of
redemption, if any there be, and shall be entitled thereto as a matter of right
without regard to the solvency or insolvency of the Mortgagors, or the then
owner of said property, and without regard to the value of said property, or
the sufficiency thereofto discharge the mortgage debt and foreclosure costs,
fees, and expense, and such Receiver may be appointed by any court of
competent jurisdiction upon ex parte application, and with notice, and all
rents, issues, and profits, income and revenue of said property shall be
applied by such Receiver, according to law and the orders and directions of
the court.
11. No failure by the Mortgagee or any legal holder hereofto enforce any right
set forth herein nor the granting of any extension of time nor taking of
additional security, nor partial release of security or the making of future
advances, shall act to constitute a waiver of the right to enforce any and all
remedies provided herein nor shall it act to discharge or release the collateral.
12. To keep the property herein described insured at the Mortgagors' expense in
a sum not less than One Hundred Fifty Five Thousand One Hundred
Fifty Eight Dollars Six Cents ($155,158.06), loss, if any, payable to all
parties of interest, and to deliver said policy or policies of insurance to the
parties and the escrow agent.
James E. Phillips, P.C.
822 Main Street - P.O. Box 770
Evanston, Wyoming 82931-0770
(307)-789-9370
Fox/Mackaben Mortgage
Page 5 of 7
00021.1
13. That 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
number shall include the plural, the plural the singular, and the use of any
gender shall include all genders.
IN WITNESS WHEREOF, the Mortgagors have caused these presents to be signed this
_day of ,2007.
MOR~
KEVIN MACKABEN
../
DEBRA MACKABEN
MORTGAGEE:
FOX DEVELOPMENT, L.P.
~~ ¿2~~/PtC'~
ROBERT BERNARD FOX
;¢:
By:
STATE OF WYOMING
Deb
re m '~0~077Ubli , b7Kev. '7d
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A'~~~~( I /
James E. Phillips, p.e.
822 Main Street - P.O. Box 770
Evanston, Wyoming 82931-0770
(307)-789-9370
Fox/Mackaben Mortgage
Page 6 of 7
0002j.2
13. That 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
number shall include the plural, the plural the singular, and the use of any
gender shall include all genders.
IN WITNESS WHEREOF, the Mortgagors have caused these presents to be signed this
lLLdayof S£Pí£M&~ ,2007.
MORTGAGORS:
KEVIN MACKABEN
~-~~
DE MACKAB'EN
~ j
-
MORTGAGEE:
FOX DEVELOPMENT, L.P.
~~ Æ~-_.~~t7' ~
ROBERT BERNARD FOX
By:
~~
STATEOF~ )
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COUNTY OF ~ )
The aforegoing document was acknowledged before me, a Notary Public, by ~in ,,~d
Debra Mackaben this ~ day of S E P T Ë MR E R. , 2007.
WITNESS my hand and official seal.
~
NOTARY PUBLIC I C-A-.L.~ t=Ð R IV)*
My Commission Expires:J)EC. ~4;J;DOg
FoxIMackaben Mortgage
Page Ii of 7
HARBANS SINGH DHillON ~
COMM. '111311133 ~
NOTARYPUBLt -CALFORN A 0
SlITTER COUNTY
COMM. EXP. DEC. 24, 2008 .&
James E. Phillips, P.C.
812 Main Street. P.O. Box 770
Evanston, Wyoming 81931..0770
(307)-789-9370
STATE OF WYOMING
~ nco\ r'\..
COUNTY OF,~
)
) ss.
)
00021.3
The aforegoing document was acknowledged before me, a Notary Public, by Robert Bernard
Fox of Fox Development, L.P., this~dayof $-þ~'L, 2007.
WITNESS my hand and official seal.
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The foregoing instrument was acknowledged before me by Kevin Mackaben this
..?dayof ~~ ,2007.
Witness my hand and official seal.
My commission Expires:
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James E. Phillips, p.e.
822 Main Street - P.O. Box 770
Evanston, Wyoming 82931-0770
(307)-789-9370
Fox/Mackaben Mortgage
Page 7 of 7
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