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RECEIVED 10/212007 at 2:48 PM
RECEIVING # 933664
BOOK: 674 PAGE: 214
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
THJS MORTGAGE, DATED ,2007, by and between Kcvin
Mackabcn and Debra Mackaben, husband and wife, whose address is 325 E. Stanriew Dr.,
Park City, UT 84098, hereinafter referred to 8S "MORTGAGORS" alld Rick Bowen and
Shelly Bowcn, husband and wife, whose addœss is 610 Gilchrist Strcet, Wheatland, WY
82201, hereinaft.er referred to as "MORTGAGEES".
MORTGAGE
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00021.4
GRANT OF MORTGAGg. For valuable consideratiun, Mortgagors hereby mortgage and
convey to Mortgagees all of Mortgago(:)' right. title and interest in and to the rollow.;ng described
real property, together with all el\iSling Of :5ubsequently crcctcd or arril\ed blli1dings,
improvements and fixtures; aU casements, rights or way, an appurtenances; all waler, water
rights, waten;our:)es and ditch rights; and all (\ther rights, royalties and profits relating to the rea}
propcny, including withoutlimitution all oj], gas and other mineral righls local~ù in. on or under
the following dcscribcd real propcrty,owncd by Mortgagors:
Parcel 1 -
A tract of land Iyin~ in an unplotted portion of the Town of Kcmmcrc1-, Lincoln
County, Wyoming more particularly described as follows:
Commelu:ing at corner 1 of Lot 63 of the Resurvey or the Towl1shil> 21 North, Range
116 West or the 6th Principal 1\'fcridian, thence bearing S70"34'\-V, 582.8 feet to the
il1tersectiol1 of the easterl)' Right-of-Way of the Ore~on Short Line Railroad, North,
Kemmerer Branch, and the westerly boundary or Wyomil1~ SL'\te Highwuy 189 Right-of-
Way, thcnce SOS'09'W, 713.52 feet alon~ said wcsterly Rigbt-of-Way of Wyoming State
Highway 189 to the true Point of Beginning, being the Northeast corner of said truet from
whcnce a Highway Ri~ht-of-Way marker lies NOS'09'E, 227.29 feet, Thence N84° Sl'W,
175 reet to the Northwest corner of said tract, Thence SOSo09'W, 9S feet to thc SI)uthwest
corner of said tract, Thence S84°S1'E, 17S feet to a point on said westerly boundary of
Wyoming Highway 189 Right-of- Way, Thence NOS'09'E, 95 feet along said Right-of-Way
to the true Point of Beginning
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Parcel 2 .
A tract of land I)'iug in Lot 63 of Resurvey of TUN R116W of the 6th P.M., Lincoln
County, Wyoming more particularly described as [Olluws:
Commencing at Corner '1 of said Lot 63 of the Resurvey of 1'21 N R 116W of the 6th
P.M.; thence S70034'\-V, 582.8 feet to 8 point being the intersection of the easterly boundary
of the Oregon Short Line Railroad right-of-way and the westerly boundary of the
Wyoming St.'lte Highway 189 right·of·way; thence SOS"09'W, 593.02 feet along said
boundary of Wyomin~ State Highway 189 right-of-way to the TRUE POINT o¡.'
BEGINNING; thence N84°Sl'W, 244.02 feet to a point on said eastcrly boundary of the
Oregon Short Line Railroad ri~bt-of-way; thence S27°31'W, 324.77 feet along said
Railroad right-of-way to the Sout.hwest corner or suid tnlet; thence S84°51'E, 368.04 feet to
said State Highway right-of-way; t.hence NOS"09'E, 84.5 feet along said Uighway right-of-
way; thence N84"Sl 'W, 175 recti thence NOS'09'E, 9S feel; thence SS4"Sl 'E, 175 fcet to !Said
Highway right-of-way; thence NOS"09'E, 120.5 feet along said Highway right-of-way to the
b'ue point of beginning.
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TillS MORTGAGE IS GIVEN TO SECURE (1) PA YMF.NT Oli' INDEBTEDNESS OF
THIRTV-FOUR THOUSAND FIVE HUNDRED DOLLARS ($34,500.00) WITH
INT.EREST AT THE RATE O~~ SI<:VEN PERCENT (7%) PER ANNUM IN
INSTALLMENTS AS SET FORTH IN THE PROMISSORY NOTE OF EVEN DATE
HEREWITH, WITH THE RIGHT TO PREPAY ANY TIME WITHOUT PENALTY;
AND (2) PERJ4'ORMANCE OF ALL OBLIGATIONS 01<" MORTGAGORS UNln:R THJS
MORTGAGE AND ALL RELATED DOCUMENTS. THIS MORTGAGE IS GIVEN AND
ACCEJYfED UPON THE FOLLOW1.NG TERMS:
PAYMENT AND PERFORMANCE. Mortgagors shall pay to Mortgagees all amounts scclm::c1
by this Mortgage as they become due, whieh amounts are specifically $et forth in a certain
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Promissory Notc from Mortgagors to Mortgagces 0('- even date herewÜh.
strictly pelfonn all of the obligations under this M0l1gage.
POSSESSJON AND MAINTENANCE OF THE PROPERTY. Mortgagors agree that the
Mortgagors' possession and use of the Propeny shall be governed hy the Following provisions:
Possession and Use. Unless and until default occurs, Mortgagors shall remain in
posses:)ion and control of. operate and manage the Propcrty and cnll~ct the Rent.s from
the PropeT[Y.
Duty to IVlaintain. M01tgagors shall maintain the Property ;n a good and husbandlike
manner and promptly perform all repa,irs, replacements and maintenance lleçes~ary to
preserve its value.
Hazardous Substances. The tem1S "hazardous waste," "hazardous substance,"
"disposal:' "release," and "threatened release," as used in t.his Mortgage, shall have the
same meanings as set tì'oth in the Comprchensi ve Environmental' Responsc,
Compensation, and Liabi.lit)' Act of 1980, as amendcd. 42 V.S.C. Section 9601, et scq.
("CERCLA"), the SuperFund Amendment~ and Reauthorization Act of ,1986, Pub. t. No.
99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U. S. C. Section 1801,
et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6YOl, ct scq., or
other appJÜ;abJe state or FederùJ laws, rules or regulations adopted pun;utll1\.l'o any of the
foregoing. The terms "hazardous waste" and "hazardous slIh:-¡lance" shall a.lso include,
without limitation, petroleum and petroleum by-products or any ['raction thereof and
asbestos. Mortgagors represent and warranl to Mnrtgagees that: (a) During the period Qf
Mortgagors' ownership and/or possession or the Property, there will be no generation,
manufacture, treâtment, disposal. release or threatened rclcase of any hil7.ardous waste or
substance by any person on, under, about or twer the Property; and (h) Except as
previously disclosed, (í) neither MOl1gagor nOr any tenant, contractor, agcnt or other
authorized, user of the Propelty shall generate, manufacture, treat, dispose of, or release
any hazardous waste Or sun:-:tance on, under, about or over the Property and (i,i) any such
activity sha1l be eondùcled in compliance with all applicable federal, ~tale, and local laws,
regulations and ordinances, including without limit.ation those laws, regulations, and
ordinances described abovc. Mortgagors aulhOlize Mortgagees and their agents to enter
upon the Propeny to makc such inspections and tests as Mortgagees may deem
appropriate to deteJTnine compliance of the Property with this ~ect.ion of the Mortgage.
Mortgagors herehy (a) releases and waives any future claim:-¡ agaín~t Mortgagees for
indemnity or contribution in the event Mortgagors become Hable For cleanup or other
costs under any such laws for contamination t)ccurril1g aftcr the date. of lhj~ Mortgage,
and (b) agrees to indirectly sustain or suffer resulting from a breach or thi::; section of the
MQrt.gage or as a consequence of any generation, manufacture, disposal, re!ea::;e or
threatened release occurring prior to Mortgagors' ownen¡hip or interest in the Property,
whether or not the same was or should have been known to Mortgagors. The provisions
of this scction of the Mortgage, including the obligation to índemnify, shall survive thc
payment of the indebtedness and the satisraction and reconveyance of the Hen of this
Mortguge and shall not be affected by Lender's acquisition of any intc:n.::-¡tin the Property,
whether by foreclosure or othcrwise.
R~ll1oval of Improvements. Mortgagors shall nor demolish or remQve any
improvements from the Real PropeJ.ty WÍ(hOlll the priQr. wIittcn consent of the
Mortgagees, Mortgagees may place any conditions upon approv,ing removal or
improvements in order to preserve the value of the Prope/:ty.
Morlgugcc~' Right to Ent~r. MOltgagees and/or their agents and rcprcscntatives may
cnter upon the Property at any rea~onable time to attend to Mortgagees' interest and to
inspect the propcrty for purposes of Mortgagors' compliance with the tenns and
conditions of this Mortgage.
Duty to Protect. Mortgagors agree lO neilher abandon nor leave the propelty unattended.
Mortgagors shall' do a11 other acts, in addi tion to those acts ~peci ficall y set fOl1h herein,
which arc reasonably necessary to protect and preserve thc Property.
DUE ON SALE - CONSENT BY MORTGAGEES. Mortgagees may, at rhejr oplion, declare
ìmmediately due and payable aJI sums secured by this Mortgage upon the sale or transfer,
without. the MOltgagccs' prior written consent, of any or all of the Property, Or any interest in the
Property. A "sale or transfer" means the conveyance of any right, títle or ,interest in the Property,
whether legaL beneficial or equitable, whether voluntary or involuntary, whether by outright sale,
00021.5
M011gagors shall
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00021.6
deed, in:-¡tallment :-;aJe (;ontract, (;(mtraçt ror deed, lea:-;;ehoJd interest with a term grcater than three
(3) years, lease-option conlract or by sale, a~signment or transfer of any bencfïcial inteTe-st in or
to any land trust holding title to the Property, or by any uthe,' method of conveyance of Real
Property interest. If Mortgagors are a corporation, partne:r$hip, lim.ited liability company, transfer
or conveyance also includes any change in ownership or more th~m twenty-five percent (25%) or
the voting stock, partnership intere8t or limited liability membcrship/owncrf>hip interest, as the
case may be, transfers to immediate fanùly member excepted
TAXES AND LIENS. Mortgagors shall pay when due (and in all events prior to delinguency)
aH taxes, assessments and charges, levied against or on account of the Propeny, ami shall pay
when due all claims for work done on, or for services rendered or material furnished, to the
'PropeI1,y. Mortgagors shall maintain the Propeny free of all liens having priority over Q~ equal to
the interest of Mortgagees hereunder, except for any lien of taxes or assessments not. yet. due.
MOllgagor may withhold paymcnt of any tax, assessment or clainl in connection with the good
faith dispute over the obligation to pay, so long as Mortgagees' interest in the Prope11y is not
jeopardized. Tn any such conte~t, MOI:tgago'rs .<;halJ defend itself and Mortgagees, and :-;;hall satisfy
any adverse judgement heron: enforcement against the Property.
INSURANCE. Mortgagor:> shal1 procure anù maintain policics of casualty and liability
insurance, which casualty insurance shall he in an amount equal to the value of the
improvcments located on the Property, and the liaoility insurance being 10 rCí.\snnahle amounts
based upon the use to be made of the Property. Any sm;h policies must cQntain a standard
Mortgagee Clause in favor or Mortgagees.
CONDEMNATION. If any procecding in condemnation is filed, Mortgagors shall promplly
notify Murtgagees in \.vriting and take such steps as may necessary to defend the action and
ohtain an award. Tf any or aJl of the Property is condemned oy eminent domain or by any
proceedings or purchase in lieu of condemnation, Mortgagees may require that all net procccds,
or any part thereof, be applied to the indebtedness secured by this MOl1,gage. The net proceccls of
the award shall mean the award after payment or reasonable costs, cxpcns(;:-\, including attorneys
fees, inct1l1'ed by Mortgagor in connection with the condemnation.
FULl. PERFORMANCE. If M011gagors pay all indebledne$s when due, secured by this
Mortgage, and otherwise performs all the obligat10ns imposeù by MOltgage or under this
Mortgage and as~o(;iat:ed documents, MOltgagees shall then execute and de1iver to Mortgagor a
satisfaction of this Mortgage.
DE:FAULT. Each nr the rullowing, at the uption of Mortgagees, shall const.itute an event of
default under this Mortgage:
a. Faì.\ure of Mongagors to pay any payment secured by thi8 MO.ltgage.
b. FaiJure of M011gagors to make any payment for taxes or t(J maintain insurance or any
other payment necessary to prevent filing of or t.o effect discharge or any lien.
c. Failure of MOItgagors to comply with any other tcrm, obligation, covenant (1r
condition contained in this Mortgage, the cOLTesponding Promissory Note or in the
related docl1mcnts.
d. The appointment or a receiver for any pUtt of Mortgagors' property. any assignment
for the benefit of creditors, any type of creditor workout or arrangement or t.he
commencement. of any proceeding under any bankrupt.cy or insolvency law:s by or
again$l Morlgagor.
e. Commencement of foreclosurc or forfeiture proceedings, whether by judìcial, self-
help, repossession or any other method, by any creuitor of M01tgagor or by åny
govemmcntal agency against all or any part of thc Property.
RIGHTS AND REMEDIES UPON DEFAULT. Upon the occurrence of any Evcnt or Default,
Mortgagees shall notify Mortgagors in writing, spcciryjng the default and Mortgagors shall have
twenty (20) days to cure the default. If Moltgagors fan to cure, the Mortgagees, at their option,
may exercise anyone or more of the following rights and rcmt;uies, in addition t.o any other
l;ghts or remedies provided by law:
a. MOltgagees may declare the entire indebtcdne3s secured hereby immediately due and
payable.
b. Mortgagee~ :-;hall have the right, without notice to Mortgagors. to retake possession of
thc Property and to colJect :rent:> anU/or payments due the Mortgagors by any tenant,
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to be paid directly to Mortgagces, and apply those payments to indebtedness secured
hcreby.
c. Mortgagees shalJ have the right [0 have a æcei vel: I:1ppointed to take possession or ,my
or all of the Property, with the power to protect and preserve the Property, ~md
operate the Propelty pending foreclQsure or sale, amI to collect any rents or other
payments due to Mortgagors relating to the Property and apply the proceeds Hgainst
the indehLedness secured hereunder.
d. Mortgagees may obtain a judicial decree rorec:lo:5ing MOltgagors' interest in any or alJ
of the Property.
e. Mortgagees may foreclose MOttgagors' intereSL in any or all of the Propelly by non-
judicial ::;ale and :5pecifically by "power of sa!c" or "adverLi semen t and sale"
foreclosure as provideù by sLaLute.
f. Mortgagees may obLain a judgment again~t Mortgagors for any derieiency remaining
in the indehtedness secured hercnnder afLer application of all amounts received frOIll
the exercise of the righLs provided in this section.
g. Mortgagees shall have an other rights anù remedies ava.i1able to it under applicable
legal or equilable remeúies.
h. If Mortgagees insti tute any suit or action lo enrorce any of the terms or this MorLgage
or to foreclose this Mortgage, or to exercise any of the rights set forth above,
Mortgagees shall be entitled to recovcr such Sum::; expended, including reasonahle
attorneys fee::; and ex.penses, to avail themsclvcs of the remedies set. fOlth above and
to protect Mortgagee's inLerest in the Property.
MISCELLANEOUS I)ROVISIONS. The following additional provisions are a part of this
MOltgage.
Amendm~nts. This Mortgage, together with any related documents, con~t.itutes the entire
understanding and agreement of the parLies. No a.lt.eration of or amendment to thit'
M011gage 8hall be effective unless made in wIlting ami signed by t.he parties hereto.
Applicahle Law. This MOl1gage sha.11 be governed and Consl.rued in accordancc with the
laws of the Stale of Wyoming.
Sevcrabilit,r. If a court of competent jurisdjetion fínds any provision of this Mortgage to
be invaLid or unenforceó·}ble as to any person or circumstance, such finding shall not
render that pmvisi on i Ilval i d or unenforceable as to ilJ'l yother persons or circumstances. If
feasible, any such offending provi~ion shall be deemed to he modiri~d \.0 be within the
limHs of enforccabHity or vaIidÜy; however, if the offending provi~ion cannot be so
modified, it. shall be stricken and all other provisions of t.his MOltgagc shall remain valid
and enforceable.
Successors and Assigns. This M011gage, and the relat.ed documents, shall he binding
upon anù inure 1:0 the benefit of the pó:utics, their successors, purchasers, assigns and
personal representative::;. Tf ownership of t.he Property hecomes vested in a person other
than Mortgagors, Mortgagees, without notice to Mortgagors, may deal with MOl1gagors'
successors with reference to this Mortgage and the indebtedness hy way of forbearance or
extension without releasing Mortgagor from the ohligations of this Mortgage or liability
hereunder.
Time. Time is or the eSsence in the perfonnance of this Mortgage. However, Mortgagees
may cIcct to forego exercise of it.s rights grantcd hereunder without waiving Or losing
theil: right to cnforcemcnt at a later lime.
Homestead Exemption. Mortgagors hereby release and waivc all IÌght~ and benefits
under and by virtue of t.he homestead exemption law~ of the State of Wyoming a~ to all
indebledness ~eçuœù by this Mongage.
MORTGAGORS ACKNOWLEDGE THAT THEY HAVE READ ALL OF THE
PROVISIONS OF THIS MORTGAGE, UNDERSTAND ALL THE TERMS AND
PROVISIONS OF THIS MORTGAGE AND BY SIGNING BELOW, REPRESENT
THAT THE EXECUTION OF THJS MORTGAGE WAS DONE VOLUNTARILY
WITHOUT COERCION OR DURESS.
4
~ ----00021B
Kevin Mackabcn
Del>ra Mackabcn
STATEOF,WJt~I~
) SS
COUNTY OF SI.(1'rE:R )
The foregoing instrument was acknowledged before me by ~ amI Dcbrd.
......... 1I>Io.2.ß:ä daY.~ ;¡;fP1l':",BER 2007.. C[þ~
Witness my hand and officJal seal.
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,.... .. . '.....þ__ .:J4 fa A-,nÇ'\ NoturyPublic,¿:A..LtFoR tJtA
~y~y comnuss¡on cxpm:s: J-'....'-. /oJ I (/' V V 0
HARBANS SINGH DHillON 5
COMM. , 1537833
OTARYPUBllC. CAI.FORHL'. 0
SUTTER COUNtY
COMM, EXP. DEC. 24, 2008.&
State of Wyoming )
, ) SS
County of Lincoln )
The foregoing instrument was acknowledged before me by Kevin Mackaben this
~dayof ~~ ,2007.
Witness my hand and official seal.
~N~A
Notary Public
My commission Expires:
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