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Home My WebLink About941958 SEP-03-200B WED 11:lB AM LINCOLN TITLE FAX NO. BOl 479 7417 Po 02/05 When Rccordcd Return to; Melven E. Smith Smith Knowles. P.C. 4723 Harrison Blvd., #200 Ogden, Utah 84403 RECEIVED 9/3/2008 at 2:38 PM RECEIVING # 941958 BOOK: 704 PAGE: 98 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER. WY Mail1"oticcR tn: Sodcrby, LLC Ann: Duane D. Johns\1l1, Mer 5449 West Mountain View Drive M(lr.:an, Utah, 114050 000098 SECOND REAL ESTATE MORTGAGE AGREEMENT SALT LAKE EXCHANGE ACCOMMODATIONS 299, L.L.C., a Utah Limited Liability Company (herein called "Mortgagor"), to secure the payment of $111,664.00, with interest thereon, as provided in and evidenced by a Secured Promissory Note of even date herewith (the ultimate maturity date of which is September 2, 1010) and all renewals, modifications and extensions thereof (''Note''), does hereby mortgage unto SODERBY, LLC, a Utah Limited Liability Company, whose principal place ofbusines5 is located at 5449 West Mountain View Drive, Morgan, Utah, 84050 (herein called "MORTGAGEE"), the following described real property, situate in the county of Lincoln, State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming, to-wit: PARCEL 1: 4 í , .~ !L-- Commencing at a point on the West right-of-way line of US Highway 89 North where said West right-of-way line intersects the North bank ofthe Salt River West ofthe highway bridge, said beginning point being approximately North 290 20' East, 1730 feet, more or less, from the Southwest Corner of Section 12, T33 N.R 119 W, 6th P.M., Wyoming, and thence following around the North bank of Salt River to the West boundary tine of said Section 12 (said North bank of Salt Riyer being described as running North 38° 10' West, 445 feet; thence North 82030' West, 264 feet; thence South 48° 0' West, 252 feet; thence South 86° 30' West, 125 feet, more or less, to the West boundary line of said Section 12), thence North 0° 0' West, 573 feet, more or less, to a point 21 rods South of the Northwest Corner of the SW % of said Section 12, thence running North 90° 0' East parallel to the North boundary line of said SW '14 , 41 rods, more or less, to the West Right-oI-Way boundary of old U.S. 89 Highway; thence Northerly along said West Highway right-of-way boundary, 21.33 rods, more or less, to a point on the North boundary line of said SW ~ of said Section 12 which is 42.5 rods, more or less, East of the West boundary line of said Section 12; thence running North 90° 0' East, 265 feet, more or less, to the West boundary line ofthe new U.S. Highway 89; thence Southerly along the said West right~of-way boundary 1168 feet, more or less, to the point of beginning. ,.{ I ..J Second Real Estate Mort1!ltçc Agreement SlIIt Lake Exchange/Soderby Page I 014 Jnitials of: MOrl/;lagor SEP-03- MM "ED 11: 19 AM LINCOLN TITLE FAX NO. 801 479 7417 D 03/05 006099 PARCEL 2: Beginning at a point on the East R.O.W. of U.S. 89 Highway that is North 36° 40' West, 2840 feet from the S % CorDer of Section 12~ T33N, R119W, 6th P.M., Wyoming, and running thence North 1° 35' East~ 114.33 feet, thcnce North 89° 30' East, 709.0 feet; thence South 200 30' West, 122.0 feet; tbence South 89° 30' West, 690.0 feet to the point of beginning, and containing 1.77 acres, more or less, also known as Tract Eon tbe plat thereof prepared by Ivan L. Call, P.E. & L.s. No. 274, as of May 1977, for remaining "Ted Hale lands on Willow Creek and Salt River; Together with all buildings and improvements situate thereon and all easements and appurtenances belonging thereto and all fIXtures attached thereto. Subject to aU restrictions, reservations, easements, and rights-of-way and covenants of record, of sight, or in use. Together with aU water, water rights, water wells, water permits, ditches, ditch rights, reservoirs appurtenant to and applicable to said real property, and any and aU other appurtenances to said real property. Together with all coal, oil, gas, uranium, fissionable and fusionablc materials and all other minerals and mincral rights, royalties and royalty rights of every kind and character as owned or hereafter acquired by Mortgagor contained in and underlying the above-described lands together with the right to enter thereon for the purpose of drilling for, exploring, mining (by underground, surface, strip, open pit, solution or any othcr mining method now or hereafter known) the above described minerals and the right to use as much of the surface as may be necessary for such purposes, provided the owner of the surface is reasonably compensated for any damage donc thereto. 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 Wlpaid 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. Second Rcal BsIIIIc Mortgage Agreement Salt Lake ExchangclSodcrby Pase:¡ of4 Initials of: Mongagor ~tt'-Uj-¿uutj WtU ll:l~ AM LINliULN IIILt. fAX N~ eUl 419 7417 P. 04/05 OO,õ1.00 In case default shall be made in 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 written 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 in accordance with the tenns of the Note, 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. Mortgagor and Mortgagee agree that any default by Mortgagor here'W1der shall also be a event of default 'W1der the Note and any default by Mortgagor under the Note shall also be an event of default hereunder. In the event of any default whereby the right of foreclosure 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. A facsimile signed copy of tills Second Real Estate Mortgage Agreement, to be provided to Mortgagee or its counsel upon execution hereofby Mortgagor, shall operate as an original for all purposes for a period of ten (10) business days, during which period the original signed document must be provided to Mortgagee or its counsel. (SIGNATURES LOCATED ON FOLLOWING PAGE.) Second Real Estate Mortgage Agreement Salt Lake Exchange/Soderby Pag~ 3 of4 Initiab of: Mortgagor S¡:P-UJ-~r)[lH l.JEU 11: 1 ~ AM LlNCOLN Tl TLE ~AX NQ eUI 41~ 14lf OOû101. ¿ Witness our hands this L day of SéfJFtrl BElL .202.8::-. SALT LAKE EXCHANGE ACCOMMODATIONS 299, L.L.C., A Utah Limited Liability Company BY: BETTY E. ORTON LIVING TRUST DATED NOVEMBER IS. 2005 ITS: Member STATE OF ~rlO ) : 55 COUNTY OFd'tJE-\DA ) On the "3 .J'oÀ. day of -.Q:PTErìßE_R.. ,2008. personally appeared before me ~f2-\.( è.. O(è..."'\OIV·. the signer of the within iustmment, who duly acknowledged to me that they are duly authorized to execute the foregoing and that they executed the same. Residing at: ? ¡2£sïu ~) ":POA-H 0 5' 3 ~C:, 3 Expires: -3 II 'è)- , g..o \::. Second Real Estate Mortgage Afþ"eement Salt Lake ExcbangclSodcrby Page 4 of4 Inirial, of: Mortgagor P. Ub/Ub