HomeMy WebLinkAbout948971`IWS Cocume11t1a UQ,,k't .rW~•.•-~ _y
Alliu,ce Title ar;d Escrow of Wyoming, LLP
as a courtesy only
0001:12
MORTGAGE
Sierra Homes Construction Wy Inc., of Thayne , Wyoming, (herein collectively called
`MORTGAGOR"), to secure the payment of Sixty-Five Thousand dollars and no cents
($65,000.00), with interest thereon, as provided in and evidenced by a promissory note of
even date herewith, the ultimate maturity date of which is July 31, 2010 and all renewals,
modification and extensions thereof, do hereby mortgage unto Castle Arch Real Estate
Investment Company of 1284 W. Flint Meadow Dr., Suite 13, Kaysville, UT. 8430 ,
(herein called "MORTGAGEE"), the following described real property, situate in the
County of Lincoln , State of WY, hereby releasing and waiving all rights under and by
virtue of the homestead exemption laws of the State of Wyoming, to-wit:
" Lots 29, 30, 31, 32 SLEEPY MEADOWS PLAT All of , Lincoln County,
Wyoming as described on the official plat filed on February 20, 2009 as instrument
No. 945463 of the records of the County Clerk Now-nKhown as Lots 29, 30, 31 and 32 of The
Meadows at Star Valley Plat "A", Lincoln County, Wyoming.
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 unpaid 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.
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
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.
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.
Witness our hands this (P day of K9+- 20
Sierr mes Construction Wy Inc. Si a omen Co struction Wy Inc.
Jay Stocking Ryan Herd
President Vice President
RECEIVED 8/17/2009 at 3:43 PM
RECEIVING # 948971
BOOK: 730 PAGE: 112
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEr" °Q, WY
006IL13
State of RA(.,
County of ?mil
This Instrument was acknowledged before me on K9,4- 0-'- ,2009
By Jay Stocking, President of Sierra Homes Constru on Wy Inc.
NOTARY-PUBLIC
JENNY GORING
10015 NORTH HWY38 (S ature of Notarial Offi e )
DEWEYVILLE UT 84309
p MY COMMISSION EXPIRES
AUGUST 14,2011 My Commission Expires:
STATF OF UTAH
State of WYOMING
County of LINCOLN
This Instrument was acknowledged before me on August, 3, 2009
By Ryan Herd Vice President of Sierra Homes Construction Wy Inc.
'.'P~1'~k.'R~tA`kfx .y M '9h 4ny NS^T1.vh... •s.,!q -~*a~pn~ '
Ji!_L 1-1. l.-\k3SC N rAl i'''.. Lil_1C
oot,,,ly „f 1 , ate c; (Si ture of Notarial Officer)
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s
Lincoln i Wyoming
My Commission Expires: 6-20-2011
My Ccmrnis..io., ;a I,!ne 20 20111
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