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receive from the sale is not enough to pay off what we owe you, we will still owe you the difference which you may seek to
collect from us in accordance with applicable law. In addition, you may, in accordance with applicable law, (i) enter on and
take possession of the Premises; (ii) collect the rental payments, including over -due rental payments, directly from tenants after
simply notifying them first class mail to make rental payments to you; (iii) manage the Premises; and (iv) sign, cancel and
change leases. We agree that the interest rate set forth in the Note will continue before and after a default, entry of a judgment
and foreclosure. In addition, you shall be entitled to collect all reasonable fees and costs actually incurred by you in proceeding
to foreclosure, including, but not limited to, reasonable attorneys fees and costs of documentary evidence, abstracts and title
reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the rents of the
Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take possession of and manage the Premises
and collect the rents of the Premises including those past due after simply notifying them by first class mail to make rental
payments to you.
WAIVERS: To the extent permitted by applicable law, we waive and release any error or defects in proceedings to enforce this
Mortgage and hereby waive the benefit of any present or future laws providing for stay of execution, extension of time,
exemption from attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this Mortgage. Until the
Note has been paid in full and your obligation to make further advances under the Note has been terminated, the provisions of
this Mortgage will be binding on us, our legal representatives, our heirs and all future owners of the Premises. This Mortgage is
for your benefit and for the benefit of anyone to whom you may assign it. Upon payment in full of all amounts owing to you
under the Note and this Mortgage, and provided any obligation to make further advances under the Note has terminated, this
Mortgage and your rights in the Premises shall end.
NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any notice to us provided for
in this Mortgage shall be given by delivering it or by mailing such notice by regular first class mail addressed to us at the last
address appearing in your records or at such other address as we may designate by notice to you as provided herein, and (b) any
notice to you shall be given by certified mail, return receipt requested, to your address at
THE JACKSON STATE BANK
P.O. BOX 1788; JACKSON, WYOMING 83001
or to such other address as you may designate by notice to us. Any notice provided for in this Mortgage shall be deemed to have
been given to us or you when given in the manner designated herein.
RELEASE: Upon payment of all sums secured by this Mortgage and provided your obligation to make further advances under
the Note has terminated, you shall discharge this Mortgage without charge to us, except that we shall pay any fees for recording
of a satisfaction of this Mortgage.
GENERAL: You can waive or delay enforcing any of your rights under this Mortgage without losing them. Any waiver by you
of any provisions of this Mortgage will not be a waiver of that or any other provision on any other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above written.
WITNESS:
LOAN NO.: 7566970
STATE OF WYOMING,
by
MARK A. S
FE 3131(WY) (961o)
County of
Teton
My Commission
•LitteetN
acknowledged before me this
The foregoing instrument was
rx_ State of
Wyoming
Ex Tres May 14, 2002
My Commission Expires•
M. gagor: MARK A. SMITH
SMITH
(person acknowledging)
Notary Public
Page 3 of 3
ORIGINAL
IN M. RATHBAND S TH
G 86
County ss:
(date)
(SEAL)
Mortgagor:
(SEAL)
Mortgagor:
12/94