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MORTGAGE
000518
The Bauman Partnership, of 255 S Hound St Morgan, UT 84050, (herein collectively
called 'MORTGAGOR to secure the payment of ONE HUNDRED SEVENTY
FIVE THOUSAND DOLLARS AND NO /100 DOLLARS ($175,000.00), with
interest thereon, as provided in and evidenced by a promissory note of even date
herewith (the ultimate maturity date of which is April 6U2 2011) and all renewals,
modification and extensions thereof, do hereby mortgage unto Spirit of Texas Bank of
625 University Drice East, College Station, Texas 77840 (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:
Lot 96 of Star Valley Ranch Plat 10, Lincoln County, Wyoming as described on the official
plat filed on March 16, 1976 as instrument No. 476273 of the records of the Lincoln County
Clerk.
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
MORTGAGOR 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.
RECEIVED 5/12/2011 at 2:37 PM
RECEIVING 959242
BOOK: 766 PAGE: 518
JEANNE WAr =MMFP
LINCOLN COUNTY CLERK, „,SERER, WY
000519
MORTGAGOR warrants title to the Property as to parties claiming, by, through or under
the MORTGAGOR only.
Witness our hands this 6 day of April, 2011,
The Bauman i ership
Christopher J.
State of frfr 1
County of VY1 0
7
aum General Partner
This Instrument was acknowledged before me on 2 6 1 day of April, 2011
By Christopher J. Bauman, General Partner of The Bauman Partnership.
(Signature of Notarial li fficer)
My Commission Eyi f