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Home My WebLink About941997 w.l1l::11 ~Lr.Jt:U lYHl..l 10: Jack H. f1>1. Attorney at law 102 Sœth 100 \-€st ro Pox 461 Brí.gþan City, or 84])2 TRUST DEED 000202 This Trust Deed made this 28th day of August, 2008, by and between SYLVIA KAY PETERSON, as trustor and ROCKY MOUNTAIN TITLE INSURANCE AGENCY, as trustee and IVAN MORRELL PETERSON as beneficiary. WITNESSETH: That trustor CONVEYS AND WARRANTS TO THE TRUSTEE IN TRUST, WITH POWER OF SALE, the following described real property situated in Lincoln County, State of Wyoming. Lot Number Thirty-four (34) of the Leon Livingston Subdivision, Lincoln County, Wyoming as d~scribed on the official plat thereof. For the purpose of securing payment of Thirty Eight Thousand Six Hundred Sixteen Dollars and Ten Cents ($38,616.10) as evidenced by a trust deed note bearing even date herewith and to be repaid in accordance with the terms and conditions of said trust deed note and to secure the performance of the agreements, covenants, conditions anq obligations of the trustor herein contained, and further, this trust deed is subject to the terms, conditions and obligations as hereinafter set forth: 1. It is agreed and covenanted by the trustor that the trustor if not already lawfully seized of said premises in fee simple will immediately become lawfully seized of said premises in fee simple and the trustor has good and lawful right to convey under this trust deed and will warrant and defend the same against all lawful claims and demands whatsoever. 2. It is agreed by the trustor that no valid mechanic's liens or other liens by materialmen, laborers, or subcontractors or any other persons will be allowed to attach to said conveyed property. 3. It is agreed by the trustor that all ground rents, taxes, assessments, water rights and/or other governmental or municipal charges, fines or impositions levied upon said premises will be paid when due, if requested, the official receipts therefore will be promptly delivered to the beneficiary. 4. It is agreed by the trustor that waste shall not be committed or permitted and the premises shall be maintained in as good of condition and repair as at the date of this trust deed or as the premises may hereinafter be placed and upon failure to so maintain the premises, the beneficiary shall have the option to cause reasonable maintenance work to be performed at the cost of the trustor. 5. Trustor will continuously maintain fire and other hazard insurance of such type or types and amounts as the beneficiary may from time to time require on the improvements now or hereafter to be erected on said premises and will pay promptly when due any premiums therefore. All insurance shall be carried in companies approved by the beneficiary and the policies and renewals thereof shall have attached thereto loss payable clauses in favor of and in form accept- 08060.01ITDeed.wpd Page 1 of 3 RECEIVED 9/5/2008 at 9:55 AM RECEIVING # 941997 BOOK: 704 PAGE: 202 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ûOö203 able to the beneficiary. In the event of loss, the trustor will give immediate notice by mail to the beneficiary who may make proof of loss if not made promptly by the trustor. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the trustor and beneficiary jointly. The insurance proceeds or any part thereof shall be applied at the beneficiary option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In the event of foreclosure of this trust deed or other transferral of title to the conveyed property in extinguishment ofthe debts secured hereby, all rights, title and interest ofthe beneficiary in and to any insurance policy then in force shall pass to the purchaser or grantee. 6. Beneficiary may perform any default, covenant, or agreement of the trustor to such extent as such beneficiary shall determine and moneys advanced by the beneficiary for such purposes shall bear interest at the rate often percent (10%) per annum and shall thereupon become a part of the indebtedness secured by this instrument and shaH be payable upon demand. 7. Time is of the essence hereof. 8. Upon default by the trustor in the payment of any indebtedness secured hereby or in the performance of any covenant or agreement hereunder, all sums secured hereby shall immediately become due, owing and payable at the option ofthe beneficiary. In the event of such default, the beneficiary may execute or cause the trustee to execute a written notice of default and of election to cause such property to be sold to satisfy the obligations hereof, and the trustee shall file such notice for record in the County Recorder's Office of Lincoln County, and the beneficiary also shall deposit with the trustee the note and all documents evidencing expenditures secured hereby. 9. After the lapse of such time as may then be required by law following the recording of said notice of default, and notice of default and notice of sale having been given as then required by law, the trustee, without demand on the trustor shall sell said property on the date and at the time and place designated in said notice of sale, at public auction to the highest bidder, the purchase price payable in lawful money of the United States at the time of sale. The person conducting the sale may for cause he deems expedient, postpone sale from time to time until it shall be completed and in every case notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale, provided if the sale is postponed for longer than one (1) day beyond the day designated in the notice of sale, notice thereof shall be given in the same manner as the original notice of sale. The trustee shall execute and deliver to the purchaser its deed conveying said property so sold but without any covenant or warranty, expressed or implied. The recitals in the deed of any matters or facts shall be conclusive proof ofthe truthfulness thereof. Any person including beneficiary may bid at the sale. Thetrustee shall apply the proceeds of the sale to the payment of(1) the costs and expenses of exercising the power of sale and of the sale including the payment of the trustee's and attorney's fees (2) costs of any evidence of title procured in connection with such sale on trustee's deed (3) all sums expended under the terms hereof not then repaid with accrued€ 08060.0 IITDeed. wpd Page 2 of 3 JL (:00204 interest at ten percent (10%) per annum from the date of expenditure (4) all other sums then secured hereby and (5) the remainder, if any, to the person or persons legally entitled thereto. 10. Upon the occurrence of any default hereunder, the beneficiary shall have the option to declare all sums secured hereby immediately due, owing and payable and foreclose this trust deed in the manner provided by law for the foreclosure of mortgages on real property and the beneficiary shall be entitled to recover in such proceedings all costs and expenses incident thereto including a reasonable attorney's fee in such amount as shall be fixed by the court. 11. Trustor will pay all costs and expenses including a reasonable attorney's fee reasonably incurred by the beneficiary because of any failure on the part of the trustor to perform their obligation under this trust deed and/or under the above referred to trust deed note. 12. The covenants herein contained shall bind the heirs, executors, administrators, successors and assigns of the trustor. IN WITNESS WHEREOF, the rustor executes this Trust Deed the date and year first above- mentioned. r-5' I STATE OF UTAH ss. COUNTY OF BOX ELDER On the 28th day of August, 2008 personally appeared before me, SYLVIA KAY PETERSON, the signer of the within instrument, wh duly acknowledged to me that she executed the same. JACK H MOlGARD Notary Public 08060.01ITDeed.wpd Page 3 of 3