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EXECUTED this -2+ day of May, 2001, LISA HARTER MacQUEEN, a
single person, of P.O. Box 6656, Jackson, Wyoming 83002, hereinafter called the
MORTGAGOR, to JAMES CLOSE and HELEN CLOSE, Husband and Wife of
Pocatello, Idaho, hereinafter called the MORTGAGEE. (Whenever used herein, the
term "MORTGAGOR" and "MORTGAGEE" include all the Parties to this instrument
and their heirs, legal representatives, and assigns of corporation; and the term
"NOTE" includes all the notes herein described if more than one).
WITNESSETH:
THAT FOR GOOD and valuable considerations, and also in consideration of
the aggregate sum named in the Promissory Note of even date herewith, hereinafter
described, the MORTGAGEE hereby grants, bargains, sells, aliens, remises, conveys,
and confirms unto the MORTGAGOR, all the certain land of which the
MORTGAGEE is now seized and in possession, situated in Lincoln County and State
of Wyoming, more particularly described as follows, to-wit:
Star Valley Ranch Plat Fourteen (14), Lot Twenty-five (25) as platted and
recorded in the official records of Lincoln County, Wyoming;
known as 503 Alta Drive, Thayne, WY 83127.
TO HAVE AND TO HOLD the same together with the tenements,
hereditaments, and appurtenances thereto belonging, and the rents, issues, and profits
thereof, unto the MORTGAGEE in fee simple.
And, the MORTGAGOR covenants with the MORTGAGEE that the
MORTGAGOR is indefeasibly seized of said land in fee simple; that the
MORTGAGOR has good right and lawful authority to convey said land as aforesaid;
that the MORTGAGOR will make such further assurances to perfect the fee simple
title to said land and the MORTGAGEE as may reasonable be required; that the
16 -e
MORTGAGE DEED
Page 1 of 4
MORTGAGOR hereby warrants the title to said land and will defend the same against
the lawful claims for all persons whosoever; and that the said land is free and clear of
all encumbrances.
PROVIDED ALWAYS, that if said MORTGAGOR shall pay unto said
MORTGAGEE, the certain Promissory Note in the amount of SEVENTY-SEVEN
THOUSAND EIGHT HUNDRED SEVENTY-FIVE ($77,8750 DOLLARS and
NO/ 100, with an interest rate of NINE (9%) PERCENT; interest beginning on May
24, 2001, and payments of SIX HUNDRED TWENTY-SEVEN DOLLARS ($62705)
DOLLARS and 05/100, beginning on June 24, 2001, and being due on the twenty-
fourth (24th) day of every month thereafter, with a payment of FOUR THOUSAND
($4,0000k) DOLLARS and NO/ 1000 toward the principle due on September 1, 2001,
and a balloon payment for the balance due on May 24, 2011, as per SCHEDULE
"A", attached and made a part hereof, and shall perform, comply with, and abide by
each and every agreement, stipulation, condition, and covenant thereof, and of this
Mortgage, then this mortgage and the estate hereby created shall cease, determine
and be null and void.
AND THE MORTGAGOR shall not destroy, damage, or substantially
change the property or allow the property to deteriorate or commit waste.
AND THE MORTGAGOR shall protect the MORTGAGEE'S rights and
security in the property.
AND THE MORTGAGOR shall protect the MORTGAGEE'S rights and
security in the property. MORTGAGOR shall insure, with extended coverage, the
property and improvements against loss, naming the MORTGAGEE as beneficial
interest holders.
NOT ASSUMABLE-NONTRANSFERABLE MORTGAGE. Each Party
to this mortgage shall be bound individually and severably by the terms therein. If all
or any part of the property or any interest in it is sold or transferred without the
MORTGAGEE'S prior written consent, the MORTGAGEE may at their option,
require immediate payment in full of all sums remaining owed under this Promissory
Note and/or Mortgage. The MORTGAGEE shall give the MORTGAGOR notice of
acceleration. MORTGAGOR shall be allowed ninety (90) days to complete payment
thereof; however, not to extend the payoff date of said note.
MORTGAGE DEED
Page 2 of 4
0873504
AND THE MORTGAGOR hereby further covenants and agrees to pay
promptly, when due, the principal and interest, and other sums of money provided
for in said note and this mortgage, or either; to pay all and singular the taxes,
assessments, levies, liabilities, obligations, and encumbrances of every nature on said
property; to permit, commit, or suffer no waste, impairment, or deterioration of said
property and/or the improvements thereon at any time; to pay all costs, charges, and
expenses including reasonable attorney fees, and title searches, reasonably incurred
or paid by the MORTGAGEE because of the failure of the MORTGAGOR to
promptly and fully comply with, and abide by each and every agreement, stipulation,
condition, and covenant set forth in said Note and this Mortgage, or either.
In the event the MORTGAGOR fails to pay, when due, and tax assessment,
or other sum of money payable by virtue of said Note and this Mortgage, or either,
the MORTGAGEE may pay the same without waiving or affecting the option to
foreclose or any other right hereunder, and all such payments shall bear interest from
date thereof at the highest lawful rate allowed by law.
If the MORTGAGOR defaults in the payment of the indebtedness hereby
secured, for a period of ninety (90) days after written notice or fails to keep the
improvements on said premises insured as herein provided or in case of breach of
any covenant or agreement herein contained, the whole of the then indebtedness
secured hereby, both principal and interest, together with all other sums payable
pursuant to the provisions hereof, shall, at the option of the MORTGAGEE or note
holder become immediately due and payable, anything herein or in said note to the
contrary notwithstanding, and failure to exercise said option shall not constitute a
waiver of the right to exercise the same in the event of any subsequent default. The
MORTGAGOR hereby grants to MORTGAGEE, their heirs, and assigns, a Power of
Sale over the property described above which may be exercised by MORTGAGEE
or their heirs and assigns in case of such default as described above, and pursuant to
such Power of Sale, MORTGAGEE, their heirs and assigns may foreclose on said
property and sell and dispose of or cause to be sold or disposed of, the above
property and all rights, title, benefit, and equity of redemption of the
MORTGAGOR, their heirs or assigns, therein, at public auction, for cash according
to Title 34, Chapter 4, Wyoming Statutes, as the same presently exists or may
hereafter be amended.
MORTGAGE DEED
Page 3 of 4
06 73504
X82
IN WITNESS WHEREOF, the MORTGAGORS have set their hand and
seal the day and year first above written, hereby releasing and waiving all rights
under and by virtue of the homestead exemption laws of the State of Wyoming.
DATED this tt day of May, 2001.
LISA IjARTER MacQUEEN
STATE OF WYOMING
SS.
COUNTY OF LINCOLN
BEFORE ME, the undersigned authority, on this 24th day of May, 2001,
personally appeared Lisa Harter MacQueen, to be the person(s) described in and who
executed the foregoing MORTGAGE DEED, after by me first being duly sworn,
acknowledged that she executed the same as her own free act and-deed
WITNESS my hand and official seal.
NOTARY
My Commission Expires: March 25, 2002
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MORTGAGE DEED
Page 4 of 4
C
0873504
$77,8750Q
May, 2001.
Afton, Wyoming
THE UNDERSIGNED, jointly and serverably if more than one, promise
to pay JAMES CLOSE and HELEN CLOSE, Husband and Wife, the principal
sum of SEVENTY-SEVEN THOUSAND EIGHT HUNDRED SEVENTY-FIVE
($77,8750Q) DOLLARS and NO/ 100 with NINE (9%) PERCENT interest
amortized for a period of THIRTY (30) YEARS. Interest to start on May 24,
2001, an ayments to start on June 24, 2001.
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~YMENT shall be due in the following manner:
Pa ent(s) sha \HeClose to escrow a ount set u at South st
Title mpany1367, emmerer, WY 8310 in behal f
James C e anor th 'r assigne .
Payments shall be in the amount of SIX HUNDRED TWENTY-
SEVEN ($627u) DOLLARS and 05/100 due on the twenty-fourth
(24th) day of each month.
There is a FOUR THOUSAND ($4,0000) DOLLAR and NO/ 100
payment toward the principal due on September 1, 2001.
A balloon payment for the balance of the note is due on May 24, 2011.
5. There is a FIVE (5%) PERCENT late fee on any payment that s made
later than five (5) days after the due date.
If the OBLIGOR defaults in the payment of the indebtedness hereby
secured for a period of ninety (90) days after written notice or fails to keep the
improvements on said premises insured as herein provided or in case of breach of
any covenant or agreement herein contained, the whole of the then indebtedness
secured hereby, both principal and interest, together with all other sums payable
pursuant to the provisions hereof, shall, at the option of the OBLIGEE or note
PROMISSORY NOTE-CLOSE/MacQUEEN
Page 1 of 2
.L83
08 '3504
holder become immediately due and payable, anything herein or in said mortgage
to the contrary notwithstanding, and failure to exercise said option shall not
constitute a waiver of the right to exercise the same in the event of any subsequent
default. In the event of default, the undersigned, jointly and severably if more
than one, agree to pay all costs of collection including a reasonable attorney fee to
the holder's attorney, whether suit be brought or not. The ninety day notice shall
be considered received when mailed in the U.S. mail, postage prepaid, or
personally served by a law enforcement officer.
THE UNDERSIGNED shall have the right to prepay all or any portion of
this Note at any time prior to maturity without penalty.
PRESENTMENT, protest, notice of protest, and notice of dishonor are
hereby waived.
DATED this A-1 day of May, 2001.
zl/cc-LISA HAItTER MacQUEEN
STATE OF WYOMING ]
] SS
COUNTY OF LINCOLN ]
The foregoing Promissory Note was subscribed and acknowledged before
me by Lisa Harter MacQueen on this 4A day of May, 2001, declaring it an act
of her free will and deed. , _
$4
WITNESS my hand and official seal.
&NDA R. NEW-MAN =NOTARY PUBLIC ~
COUN P 10F SiA►~ OF
LINCCLU t`A10MING NOTARY PUBLIC
N~
My Commission Expires%
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My Commission Expires:(; ~9 9aA,e '
PROMISSORY NOTE-CLOSE/MacQUEEN
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