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VED LINCOLN COUNTY CLE BOOK_ 5 PR PAGE G 8 7 1 1 1 2 01 FEI —2 A1110: 23 FIRST MORTGAGE Jib WAGN KEMMERER, WYOMING This First Mortgage is made as of the 31 day of J c,,,,v 2001, between David Schwab, a single man (the "Mortgagor and Margot Belden, a single woman; Jack Turnell and Francis Turnell, husband and wife; Kathy Abarr, a married woman as her sole and separate property; and Rob Abarr, a single man (collectively the "Mortgagee WITNES SETH, that to secure the payment of an indebtedness in the sum of Sixteen Thousand One Hundred and no /100 Dollars ($16,100.00) as evidenced by a Promissory Note of even date herewith and all renewals, modifications and extensions thereof, the Mortgagor hereby mortgages to the Mortgagee the following described real estate, situated in the County of Lincoln, State of Wyoming, to, wit: FOR R ELEASE OF t� This M c,r4 ,age Sf OK f_ _..Of laiiTOSO Lot 89 of River View Meadows Second Addition to the Town of Alpine, Lincoln County, Wyoming, within the SE' /a of Section 30, T 37N, R 118 W, according to that plat filed February 11, 1994, Plat No. 264 -D, Instrument No. 778568. ogether with and including all buildings and improvements iereon and all appurtenances and hereditaments thereunto elonging. Subject to all covenants, conditions, restrictions, easements, reservations, encumbrances, rights and rights -of- way of sight and /or record (the "Property And the Mortgagor covenants with the Mortgagee as follows: 1. Payment. The Mortgagor shall pay the indebtedness hereby secured. 2. Prepayment. The Mortgagor shall have the privilege of paying principal sums plus accrued interest, at any time without premium or penalty of any kind, and it is understood and agreed that any such prepayment shall be credited first to accrued interest and the balance to principal in the inverse order of when due. 3. Preservation of Property. The Mortgagor shall not do anything on or in connection with the Property which may impair Mortgagee's security hereunder. Mortgagor will not commit, permit or suffer any waste, impairment, or deterioration of the Property and the Property shall be continuously maintained, in good and sightly order, repair and condition by Mortgagor at his expense. 4. Taxes and Other Charges. The Mortgagor shall pay all ground rents, taxes, assessments, sewer rents, water rates, all governmental, quasi governmental charges (e.g., homeowner association assessments) and other lawful charges on or against the Property. 5. Payments by Mortgagee. In the event Mortgagor defaults in the payment of any lawful charges against the Property, Mortgagee, at its sole option and discretion, may pay same. Mortgagor covenants and agrees to reimburse such sums expended by Mortgagee with interest at the rate of eighteen percent (18 per annum, and the same shall constitute a lien against the Property with priority as of the date hereof. 6. Statement. The Mortgagee, within twenty (20) days upon request in person or within thirty (30) days upon request by mail, will furnish a written statement duly acknowledged verifying and acknowledging the amount outstanding on the indebtedness secured by this Mortgage. 7. Notice. All notices shall be sent by certified mail, shall be deemed given when mailed, and shall be addressed as follows or at such other place as may be designated by either party from time to time in writing in the same manner as provided herein. •guip0000sd ainsoioaioj alp Jo sosuodxo put slsoo iiu $urpniour `Ag0Ja4 pa.moas sums Hu Aud ins ores Lions jo sp0000.td amid) ino pug `Al.1ado1d iias pug uo asoioOJOJ 01 `aius puu ivatuasii1anpu 10 alnsoioolod iuioipnf Aq `SuiuzoAM do awls oq jo smut am of luunsJnd `poo wd Atm ooRalioj, oq `papinoJd Luang sp uotiuJaiaoou pine 2inujop do Iuana alp uI •2inudoa uodn ainsopoiod 01 •uia.tati tii.toj ias su it 02 aiquiiunt sarpomol jig watt ins aauSi.zoj, atii pure (oigv/Cud pine onp Mind oq hugs iapunaio q aiquAud pine Agaiati painoas slunouzu iii put) lingjop ui oq `ooSuSlioy%i do uoildo oto ogeS touI aql pure linujop jo aor2ou Aug apinoJd 02 polugiigo act lou hugs ooSt5l1oJ, 0Lii uati j pound uuoi 0Lii Sui.tnp sOLUt2 (Z) omi lauuuLu AiaLUii g ui sivaLUAud pairnbai 041 a)ium 01 ami!uj .Lod aSapoyt S!42 iapun }inudap do Wuiii.zm ur 1o$u$2Jow Adtiou 02 iva& s,aa$ai10JAI Jo oagSpow .Jod A.zussaoau aq items 2! dr `Sutpuu2s42imiou k.zg.z}uoo alit 02 pauiuiu0o oggSvoIN 5142 ui Sutti2Auy •S zo `papinoJd 11101011 Su iu0SUOO S lnotilim A2Jadoid alp ui 2Sa.iatut up JO J0JSU J2 Jo aius uodn 10 `doa.1ati2 aouunsst 0Lii Luo1j sLi2uouz °aim uiti2TM A2.tado1d alp Iono uot2oipsiJnf O'uiuzi2io A2i.toii2ne iu2uautu ona -isgnb 10 iuwounuona Aim Aq panssr aouuutp.zo .10 mui do uoi2uioin do aot2ou Jo 1ap.o s0 luatua.ttnboi Aug ti2tm Aidmoo 02 aJnirgd JOJV •a Jo `(siiutii amp paquosaid uniitm pa.tno lou) &allo A S!42 Li! pauig21100 SlUOWaa1Sg JO suoTItpuoa `siuguanoo Jatiio alit do Aug ut.tod.1ad pine an.zasgo `daa}i 02 s11e JoStSpoJAI ati2 dj •p .10 `.uta.I0L4 paprnoJd astm.z0Li2o Su 2daoxa `a0SuS210IAI alp do 2uasuoo uaiii.tm aq2 2notiirm joongi. 212d Aug .I0 A2.zado1d quo qua! 0Li2 do ivauzuRissg alto. •o .LO `sIuauzssass2 pug soatutio iuivauzu ono2 -tsunb `S02.1PUo i2Wauzu1an0S `sivaJ 3am3s `sa}2J .Iaigm `saxu2 siva.t puno1S rig do 2uatukud s2diaoa.t `putmop nut sAup (0£) A21!Lii uitiitm `a0Sugi10JA am 2tgttixa 02 a.Lniiud .1a1jV 100£8 AM `uos)iouf Z96i7 x0H 'O'd g pinEQ Z00£8 AM `u0s)10u f 6968 xOg 'O'd uapiag 20 .zuAi 0�0 01, 0 10 `doalag2 aotiou uaiiiJm do skull (s i) uaaidg UH.J2tm iinejap ivaLUAud Lions amo 02 amitud pup (•020 `s2S00 uopoaiioo `sand Aauio2lu `ooRuSl1ow Aq mud s2unoLUp `A}.ladold alp 2suiuSu s0Ws2Lio indmui `saarego net `lsa.zaiui pug tudrouud do S2uomiig2sUt magi) .Iopunanq aiquAgd 10 po moos Aga.zagi 2unotuu Aug do ivaWAud alit ui 2ingdap uodn :aoSuSlioJAI 0Lii do uorido atii 2u aig2Agd pug onp auzooaq hilts Agoiaq pa.znoas ssaupalgapui 0.1iiu0 a4 j •uoi2u.taiaooy pug iinudaU 6 •Agazaq pampas ssaupolgapui aqi do iunoure rind alp 02 A2.tado1d 0Li2 ur Isamu! s,00Sa2Jow Sui.msui 052.10A00 aoug.msut owl .Lod ad pup Listu. nj hugs 10 2S21ow 'Apodo.1d 0Li2 02 01212 0Li2 s2upi.ium .1052Spoyv 041 •Aure.uuM '8 :1o5t5110JAI oloulc 071 11. Remedies. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity which may be exercised concurrently, independently or successively. Any forbearance by Mortgagee in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be deemed a waiver or preclude the exercise of any such right or remedy at any time. 12. Receiver. The holder of this Mortgage, in any action or procedure to foreclose it (judicial, by power of sale or otherwise), shall be entitled to the appointment of a receiver. The Mortgagor hereby consents that, in the event a receiver is appointed, Mortgagee may be the receiver. 13. Possession. In the event of default by Mortgagor, the Mortgagee is entitled to possession of the Property during the pendency of any foreclosure proceedings and during any period of redemption, if applicable, under the statutes of the State of Wyoming. 14. Attorney and Foreclosure Expenses. If any action or proceeding be commenced, to which action or proceeding the Mortgagee is made a party due to its interest in the Property, or in which it becomes necessary to initiate collection of the indebtedness hereby secured or foreclosure proceedings (whether or not suit is necessary), all sums paid by the Mortgagee for the expense of any litigation or proceeding to prosecute or to defend the rights and lien created by this Mortgage or to foreclose this Mortgage or to collect the indebtedness hereby secured (including reasonable attorneys' fees), shall be paid by the Mortgagor, together with interest thereon at the rate of eighteen percent (18 per annum, and any such sums and the interest thereon shall be a lien on the Property, prior to any right, or title to, interest in or claim upon the Property attaching or accruing subsequent to the lien of this Mortgage, and shall be deemed to be secured by this Mortgage. 15. Assignment of Rents. The Mortgagor hereby assigns to the Mortgagee the rents, issues and profits, if any, of the Property as further security for the payment of the indebtedness secured hereby, and the Mortgagor grants to the Mortgagee the right to enter upon the Property or any part thereof, and to apply the rents, issued and profits, after payment of all necessary charges and expenses, on account of the indebtedness hereby secured. This assignment and grant shall continue in effect until all sums secured by this Mortgage are paid. The Mortgagee hereby waives the right to enter upon the Property for the purpose of collection of said rents, issues and profits, and the Mortgagor shall be entitled to collect and to receive said rents, issues and profits; provided that such right of the Mortgagor may be revoked by the Mortgagee upon any default (not cured within the applicable cure period) hereunder, without notice. 16. Deficiency. In the event the Property is sold at foreclosure (judicial, power of sale, or otherwise according to law) and the proceeds are insufficient to pay the indebtedness secured hereby, Mortgagor shall remain liable for the unpaid balance and Mortgagee will be entitled to a deficiency judgment. 17. Due -On- Transfer. If all or any part of the Property or any equitable or beneficial interest therein is sold or otherwise transferred by Mortgagor without Mortgagee's prior written consent, which shall not be unreasonably withheld, excluding (a) the creation of a purchase money security interest for appliances, (b) a transfer by descent, devise or operation of the law upon the death of any owner, or (c) the grant of any leasehold interest to the Property of three (3) years or less not containing an option to purchase, Mortgagee may, at Mortgagee's sole option, declare all sums secured hereby to be immediately due and payable. 18. Set -Off. Mortgagor shall not be entitled to set -off or any similar rights against amounts secured hereby. 19. Miscellaneous. This Mortgage may not be changed or terminated orally. 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