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MORTGAGE
(Continued)
420
Page 2
generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on under, about or from the
Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any person relating
to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant,
contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous
Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, state,
and local laws, regulations and ordinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter
upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the
Property with this section of the Mortgage. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
construed to create any responsibility or liability on the part of Lender to Grantor or to any other person. The representations and warranties
contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby (1) releases and
waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any
such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses
which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Mortgage or as a consequence of any use,
generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or interest in the Property,
whether or not the same was or should have been known to Grantor. The provisions of this section of the Mortgage, including the obligation to
indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be
affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the
Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the
right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to replace
such Improvements with Improvements of at least equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to
Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Mortgage.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in
effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With
Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding,
including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion,
Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond, reasonably
satisfactory to Lender, to protect Lender's interest.
Duty to Protect. Grantor agrees neither to abandon nor leave unattended the Property. Grantor shall do all other acts, in addition to those acts
set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
DUE ON SALE CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Mortgage
upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property. A "sale or
transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal,, beneficial or equitable; whether
voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater
than three (3) years, lease- option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real
Property, or by any other method of conveyance of an interest in the Real Property. If any Grantor is a corporation, partnership or limited liability
company, transfer also Includes any change in ownership of more than twenty-five percent (25 of the voting stock, partnership interests or limited
liability company interests, as the case may be, of such Grantor. However, this option shall not be exercised by Lender if such exercise is prohibited by
federal law or by Wyoming law.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage:
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessments, water charges
and sewer service charges levied against or on account of the Property, and shall pay when due all claims for work done on or for services
rendered or material furnished to the Property. Grantor shall maintain the Property free of any liens having priority over or equal to the interest of
Lender under this Mortgage, except for those liens specifically agreed to in writing by Lender, and except for the lien of taxes and assessments not
due as further specified in the Right to Contest paragraph.
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to
pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen
(15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if
requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient
to discharge the lien plus any costs and reasonable attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under
the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property.
Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
Property.
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any
materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services,
or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the
cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mortgage:
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
coinsurance clause, and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain comprehensive general
liability insurance in such coverage amounts as Lender may request with Lender being named as additional insureds in such liability insurance
policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business interruption and boiler insurance
as Lender may require. Policies shall be written by such insurance companies and in such form as may be reasonably acceptable to Lender.
Grantor shall deliver to Lender certificates of coverage from each insurer containing a stipulation that coverage will not be cancelled or diminished
without a minimum of ten (10) days' prior written notice to Lender and not containing any disclaimer of the insurer's liability for failure to give such
notice. E ins rance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
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41 "S3Hf11IaN3dX3 S.H3QN31
11: #.0.k.
MORTGAGE
(Continued)
422
Page 4
Security Interest. Upon request by Lender, Grantor shall execute financing statements and take whatever other action is requested by Lender to
perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Mortgage in the real property
records, Lender may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this
Mortgage as a financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security Interest.
Upon default, Grantor shall assemble the Personal Property in a manner and at a place reasonably convenient to Grantor and Lender and make it
available to Lender within three (3) days after receipt of written demand from Lender.
Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest
granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this Mortgage.
FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions relating to further assurances and attorney -in -fact are a part of this
Mortgage:
Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or will cause to be
made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates,
and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
preserve (1) Grantor's obligations under the Note, this Mortgage, and the Related Documents, and (2) the liens and security interests created
by this Mortgage as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender
agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in
this paragraph.
Attorney -in -Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Grantor
and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney -in -fact for the purpose of
making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole. opinion, to
accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under this
Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable statements of termination of any financing
statement on file evidencing Lender's security interest in the Rents and the Personal Property. Grantor will pay, if permitted by applicable law, any
reasonable termination fee as determined by Lender from time to time.
EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Mortgage:
Payment Default. Grantor falls to make any payment when due under the Indebtedness.
Default on Other Payments. Failure of Grantor within the time required by this Mortgage to make any payment for taxes or insurance, or any
other payment necessary to prevent filing of or to effect discharge of any lien.
Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Mortgage or in any of
the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between
Lender and Grantor.
Default In Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement,
or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or Grantor's ability to repay the
Indebtedness or Grantor's ability to perform Grantor's obligations under this Mortgage or any related document.
False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Mortgage,
the Note, or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or
misleading at any time thereafter.
Defective Coilaterallzation. This Mortgage or any of the Related Documents ceases to be in full force and effect (including failure of any collateral
document to create a valid and perfected security interest or lien) at any time and for any reason.
Death or Insolvency. The dissolution or termination of Grantor's existence as a going business or the death of any partner, the insolvency of
Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout,
or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self -help,
repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the Indebtedness.
This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply
if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding
and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor
or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not remedied
within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Grantor to
Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any
of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity
of, or liability under, any Guaranty of the Indebtedness In the event of a death, Lender, at its option, may, but shall not be required to, permit the
guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to Lender, and, in doing so, cure
any Event of Default.
Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance
of the indebtedness is impaired.
Right to Cure. If such a failure is curable and if Grantor has not been given a notice of a breach of the same provision of this Mortgage within the
preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice
demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) if the cure requires more than fifteen (15) days, immediately
initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to produce
compliance as soon as reasonably practical.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and at any time thereafter, Lender, at Lender's option, may
exercise any one or more of the following rights and remedies, in addition to any other rights or remedies provided by law:
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MORTGAGE
(Continued)
42
Page 6
statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require.
"Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the
Property.
Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define the
provisions of this Mortgage.
Governing Law. This Mortgage will be governed by, construed and enforced In accordance with federal law and the laws of the State of
Wyoming. This Mortgage has been accepted by Lender in the State of Wyoming.
Joint and Several Liability. All obligations of Grantor under this Mortgage shall be joint and several, and all references to Grantor shall mean
each and every Grantor. This means that each Grantor signing below is responsible for all obligations in this Mortgage. Where any one or more
of the parties is a corporation, partnership, limited liability company or similar entity, it is not necessary for Lender to inquire into the powers of any
of the officers, directors, partners, members, or other agents acting or purporting to act on the entity's behalf, and any obligations made or created
in reliance upon the professed exercise of such powers shall be guaranteed under this Mortgage.
No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Mortgage unless such waiver is given in writing and
signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A
waiver by Lender of a provision of this Mortgage shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance
with that provision or any other provision of this Mortgage. No prior waiver by Lender, nor any course of dealing between Lender and Grantor,
shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender
is required under this Mortgage, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent
instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
Severability. If a court of competent jurisdiction finds any provision of this Mortgage to be illegal, invalid, or unenforceable as to any person or
circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or circumstance. If
feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be
so modified, it shall be considered deleted from this Mortgage. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any
provision of this Mortgage shall not affect the legality, validity or enforceability of any other provision of this Mortgage.
Merger. There shall be no merger of the interest or estate created by this Mortgage with any other interest or estate in the Property at any time
held by or for the benefit of Lender in any capacity, without the written consent of Lender.
Successors and Assigns. Subject to any limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding upon
and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor,
Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of
forbearance or extension without releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness.
Time is of the Essence. Time is of the essence in the performance of this Mortgage.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of
Wyoming as to all Indebtedness secured by this Mortgage.
Grantor's Liability. This Mortgage is executed by Grantor, not personally but as Trustee as provided above in the exercise of the power and the
authority conferred upon and vested in It as such Trustee (and Grantor thereby warrants that it possesses full power and authority to execute this
Instrument). It is expressly understood and agreed that with the exception of the foregoing warranty, notwithstanding anything to the contrary
contained herein, that each and all of the warranties, indemnities, representations, covenants, undertakings, and agreements made in this
Mortgage on the part of Grantor, while in form purporting to be the warranties, indemnities, representations, covenants, undertakings, and
agreements of Grantor, are nevertheless each and every one of them made and intended not as personal warranties, indemnities, representations,
covenants, undertakings, and agreements by Grantor or for the purpose or with the intention of binding Grantor personally, and nothing in this
Mortgage or in the Note shall be construed as creating any liability on the part of Grantor personally to pay the Note or any interest that may
accrue thereon, or any other Indebtedness under this Mortgage, or to perform any covenant, undertaking, or agreement, either express or implied,
contained in this Mortgage, all such liability, if any, being expressly waived by Lender and by every person now pr hereafter claiming any right or
security under this Mortgage, and that so far as Grantor and its successors personally are concerned, the legal holder or holders of the Note and
the owner or owners of any Indebtedness shall look solely to the Property and to other assets of the Trust for the payment of the Note and
Indebtedness, by the enforcement of the lien created by this Mortgage in the manner provided In the Note and herein or by action to enforce the
personal liability of any Guarantor.
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Mortgage. Unless specifically stated to
the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the
singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this
Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code:
Borrower. The word "Borrower" means PUTNAM RANCH, LLP, a Utah Limited Liability Partnership; KEITH L. PUTNAM INTER VIVOS TRUST
DATED THE 7TH DAY OF JUNE 1994; and ERMA N. PUTNAM INTER VIVOS TRUST DATED THE 7TH DAY OF JUNE 1994, and all other persons
and entities signing the Note in whatever capacity.
Default. The word "Default" means the Default set forth in this Mortgage in the section titled "Default
Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to
the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. "CERCLA the Superfund Amendments and Reauthorization Act of 1986, Pub.
L. No. 99-499 "SARA the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery
Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto.
Event of Default. The words "Event of Default" mean any of the Events of Default set forth in this Mortgage in the Events of Default section of this
Mortgage.
Grantor. The word "Grantor" means PUTNAM RANCH, LLP, a Utah Limited Liability Partnership; KEITH L. PUTNAM INTER VIVOS TRUST DATED
THE 7TH DAY OF JUNE 1994; and ERMA N. PUTNAM INTER VIVOS TRUST DATED THE 7TH DAY OF JUNE 1994.
Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without
limitation a guaranty of all or part of the Note.
Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical
or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated,
stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very
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STATE OF WI'QMUNG.
COUNTY OF e SS e t'
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On this 0 L7:.' of 20 er before me, the undersigned Notary Public, personally
appeared LANNY KAY PUTNAM, a partner or designated agent of PUTNAM RANCH, LLP, a Utah Limited Liability Partnership, a General
Partnership, to me known to be the person who executed the foregoing Mortgage, and acknowledged the Mortgage to be the free and voluntary
act and deed of the partnership, by authority of statute or its Partnership Agreement, for the uses and purposes therein mentioned, and on oath
stated that he is authorized to execute t is Mortgage and in fact executed the Mortgage on behalf of the partnership.
7
By siti- Residing at u-vr, izT
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Notary Public in and for the State of Z4 My commission expires 7'7 706
STATE OFD
PARTNERSHIP ACKNOWLEDGMENT~
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COUNTY OF &I
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MORTGAGE
(Continued)
ACKNOWLEDGMENT
ACKNOWLEDGMENT
On this day of /r1.--)../ 20 6r) before me, the undersigned Notary Public, personally
appeared KEITH L. PUTNAM, known to me to be an"authorized trustee or agent of KEITH L. PUTNAM INTER VIVOS TRUST DATED THE
7 DAY OF JUNE 1994, the trust that executed the Mortgage; that said Mortgage was signed on behalf of the said trust as partner of
PUTNAM RANCH, LLP, a Utah Limited Liability Partnership, a General Partnership, and acknowledged the Mortgage to be the free and
voluntary act and deed of the trust, by authority set forth in the trust documents or by authority of statute, for the uses and purposes therein
mentioned, and on oath stated that he is authorized to execute this Mortgage and in fact executed the Mortgage on behalf of the trust by it and
him voluntarily executed as partner of PUTNAM RANCH, LLP, a Utah Limited Liability Partnership.
ByC�s1. ,y ,Zeriew-e Residing at Zoe? 44,
otary Public in and for the State of £./"'I My commission expires` "7
On this t day of 2 2 7 ty' 20 before me, the undersigned Notary Public, personally
appeared ERMA N. PUTNAM, known to me to be ar( authorized trustee or agent of ERMA N. PUTNAM INTER VIVOS TRUST DATED THE
7 DAY OF JUNE 1994, the trust that executed the Mortgage; that said Mortgage was signed on behalf of the said trust as partner of
PUTNAM RANCH, LLP, a Utah Limited Liability Partnership, a General Partnership, and acknowledged the Mortgage to be the free and
voluntary act and deed of the trust, by authority set forth in the trust documents or by authority of statute, for the uses and purposes therein
mentioned, and on oath stated that she is authorized to execute this Mortgage and in fact executed the Mortgage on behalf of the trust by it and
her voluntar executed s pa- tnerr of PUT J jIAM RANCH, LLP, a Utah Limited Liability Pa
By /14,•41-- i Residing at Gr'3v r Ur
otary Public in and for the State of acM My commission expires 2,. 4e% 7
426
Page 8
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Real estate located in the County of Rich and State of Utah, and in the County of Lincoln and
State of Wyoming, to -wit:
RICH COUNTY, UTAH:
EXHIBIT "A"
PARCEL 1: Commencing at a point located North 89 °48'00" East along the Section line 215.36 feet from the Southwest
Comer of the Southeast Quarter of Section 22, Township 9 North, Range 6 East of the Salt Lake Base and Meridian;
thence North 0°11'44" West parallel to the Quarter Section line 545.70 feet; thence North 30 °23'38" West 63.96 feet;
thence North 60 °46'05" East 72.86 feet; thence North 27 °48'05" West 134.11 feet; thence North 72°22'10" East 61.85
feet; thence North 12 °28'00" West 213.55 feet; thence South 45 °00'00" West along the South Right of Way line of State
Route 39, 77.07 feet; thence North 0°11'44" West parallel to the Quarter Section line 391.49 feet to the Sixteenth Section
line; thence North 89 °30'06" East along the Sixteenth Section 1293.91 feet; thence due South 2640.15 feet to the South
line of the Northeast Quarter of the Northeast Quarter of Section 27, said Township and Range; thence South 89 °52'06"
West along the Sixteenth Section line 1155.38 feet; thence North 1 °38'43" East parallel to the Quarter Section line
1312.93 feet; thence South 89 °48'00" West 100.00 feet to the point of beginning. Said parcel is subject to the Right of
Way for State Route 39.
ALSO, commencing 20 rods West of the Northeast Corner of the Northeast Quarter of the Southeast Quarter of Section
22, Township 9 North, Range 6 East of the Salt Lake Base and Meridian, and running thence West 60 rods; thence South
80 rods; thence East 60 rods; thence North 80 rods to the place of beginning
ALSO, the Northwest Quarter of the Southeast Quarter of Section 22, Township 9 North, Range 6 East of the Salt Lake
Base and Meridian. LESS: that portion of the above described land deeded to State Road Commission of Utah and
Recorded in Book Z at Page 155 on August 24, 1959.
PARCEL 2: Commencing at a point 68.2 rods East of the Northwest Comer of the Southwest Quarter of the Northwest
Quarter of Section 23, Township 9 North, Range 6 East of the Salt Lake Base and Meridian, and running thence South
240 rods; thence East 120.8 rods; thence North 67.3 rods; thence West 59 rods; thence North 15.7 rods; thence West 12
rods; thence North 77 rods; thence East 5 rods; thence North 25 rods; thence East 7 rods; thence North 55 rods; thence
West 61.8 rods to the place of beginning.
EXCEPTING THEREFROM THE STATE ROAD deeded in Book Z at Page 154.
PARCEL 3: Part of the Northwest Quarter of Section 9, Township 9 North, Range 7 East of the Salt Lake Base and
Meridian, described as follows: Beginning at the Southeast Corner of the Northwest Quarter of said Section 9, and
running thence West 792 feet to the East side of the State Road right -of -way; thence running Northeasterly along the East
right -of -way line of said road (said right -of -way making a curve to the right) 2900 feet, more or less to the North line of
Section 9, Township 9 North, Range 7 East of the Salt Lake Base and Meridian; thence East 150 feet to the Northeast
Corner of the Northwest Quarter of said Section 9; thence South 2640 feet to the place of beginning.
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PARCEL 18: Section 30, Township 14 North, Range 8 East of the Salt Lake Base and Meridian: The East half of the
Northeast Quarter; Lots 1, 7 and 8.
PARCEL 19: Section 31, Township 14 North, Range 8 East of the Salt Lake Base and Meridian: The North half of the
Northwest Quarter; the South half of the Northeast Quarter; the South half of the Northwest Quarter; the South half, Lots
1,2and3.
PARCEL 20: Section 32, Township 14 North, Range 8 East of the Salt Lake Base and Meridian: All.
PARCEL 21: Section 33, Township 14 North, Range 8 East of the Salt Lake Base and Meridian: Lots 1, 2, 3 and 4.
LESS AND EXCEPTING FROM all of the above parcels, all, oil, gas and mineral rights as previously reserved in the
following:
Book E, Page 889
Book G, Page 288
Book R, Page 53•
Book T, Page 483
Book V, Page 505
Book X2, Page 53
Book U3, Page 519
Book X3, Page 37
LINCOLN COUNTY, WYOMING:
Book X3, Page 218
Book H4, Page 489
Book H4, Page 491
Book H4, Page 492
Book H5, Page 94
Book H5, Page 95
Book W6, Page 485
Book I7, Page 223
430
Parts of Sections 2, 3, 9, 10, 11, 15, 21 and 22, all in 'Township
22 North, Range 120 West of the 6th Principal Meridian, being
more particularly described as follows:
Beginning on the North line of said Section 2 at a point located
south 89'57'07" East, 3760.40 feet from the Northeast corner
of said Section 2, said point being also located on the East
right of way line of Lincbln County Road No. 207; running thence
West along the North lines of said Sections 2 and 3 to the
Northwest corner of said Section 3; thence South along the
West line of said Section 3 to the Northwest corner of the SW;SW;
thereof; thence East along the North line said SW4SW} to the
Northeast corner thereof; thence South along the East line
of said SW }5W; to the Southeast corner thereof and the Northeast
corner of the NW }NW; of said Section 10; thence South along
the East line of said NWfN0 to the southeast corner thereof;
thence West along the south line of said NWINWl,to the Southwest
corner thereof; thence South along the West line of the SWi1wi
to the Southwest corner thereof and the Northeast corner of
the SE•; of said Section 9; thence West along the North line
'aoT ;o plea UT
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0S6E r 432
That part of Tract 54A of•Township 22 North, Range 120 west,
Lincoln County, Wyoming, and part of that tract of record in
the Office of the Clerk of Lincoln County in Book 318 of
Photostatic Records on page 317 described as follows; Aeginning
at corner No. 1 of.said Traot 54A found as described in the
Certified Land Cornea Recordation Certificate filed in the said
office, thence west, 46.00 feet along the North line of said
Tract 54A to an intersection with the Southeasterly right -of -way
line of Cokeville -Utah line County Road No. 12 207; thence
South 29 35' West, 372.31 feet along said right -of -way to an
intersection with the protraction of a fence line located in
Lot 24 of Section 22 of the Said Township 22 North, Range 120
West; thence South 79 09.3' East, 233.98 feet along a
protraction of said fence lino to an intersection with the East
line of said Tract 54A; thenoe North, the base bearing for
this description, 367.80 feet along the said East line to the
corner of beginning; all in accordance with the plat titled
"PLAT OF TRACTS IN LOT 24 SECTION 22 TRACT 54 SECTION 21 TOWNSHIP
22 NORTH RANGE 120 WEST LINCOLN COUNTY, WYOMING" to be filed
in said office.
Johnson Ranch
Beginning at a point situated upon the west boundary of Tract
42 from whence the Northwest corner of said Section 27 bergs
North 0 °12' for 2,501.4 feet; thence North for 1,269.6 feet;
thor►ce South 63'57' East, 7,453.5 feet; thence South 2 57'
West, 192.0 feet along the western boundaries of the holdings
of John Sedey and Beckwith -Quinn and Company of (Lawrence
Johnson); thence North 71'44' West, 7,058.7 feet to the point
of beginning.
Beginning at a point from whence the Northwest corner of Lot
24 of said Section 22 bears West 314.8 feet; thence 1,005.2
feet to Corner No. 7 of Tract 43; thence North 3,999.6 feet
to Corner No. 8 of Tract 43; thence East 1,320 feet to Corner
No. 5 of Tract 48, a point situate upon the North boundary of
Tract 43; thence South 23 59' East, 5,295.3 feet; thence North
01 38' West 636 feet; thence South 74'20' West, 1,164 feet;
thoncc North 84°25' West, 2,906.9 feet; thence North 11 53'
East 794 feet to the point of beginning.
Also a parcel of land in Section 15 and Section 22, Township
22 North, Range 120 West 6th P.N., Lincoln County, Wyoming,
commencing at Corner No. 5 of Tract 49 of Resurvey of Township
22 North, Range 120 West; thence South 25 09'49" West, 6.199.24
feet to the point of beginning of this description; thence
South 19'35'37" West, 3,982.04 feet; thence North 89 14'04"
East 1,338.01 feet) thence North 0 °03'10" West, 3,722.57 feet
to the point of beginning. LESS THE FOLLOWING; Beginning at
a point situate upon the West boundary of Tract 42 from whence
the Northwest coiner of said Section 27 bears South 1,343.1
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1 25 HP Electric Pump and Motor
7 1/4 Mile Wheel Lines
21 1/4 Mile Hand Lines
EXHIBIT "B"
IRRIGATION EQUIPMENT
434
All fixtures (including trade fixtures), supplies, equipment and inventory used for the production of water
on the Real Property or for the irrigation or drainage thereof located on the real estate described in Exhibit
"A whether now owned or hereafter acquired, and whether now existing or hereafter arising, and all
accessions, parts, additions, replacements and substitutions for any of such Property, and all proceeds
(including insurance proceeds) from the sale or other disposition of any of such Property. Said fixtures,
supplies, equipment and inventory include, but are not limited to, the following:
:SuiMO11o; age 'off pa}lwil iou s! 'sapnpul anode ayl „d„ 11q!4x3 ui pagiaasap
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JO saleai }1uaaa 'sasuaa!t 'sl!waad MR 4311p pue sagaalp '541141 aa4PM 'aaleM IIb
CCP
(patpune Adoo) 9SOL
(payapfe Adoa) 60L6£ :•(s)oN T!waad
2131VM GNf1OE1E 3O NOIJYINdO21ddb
30 31VJIdI1213D 9NIWOAM
S1H D 121 2131VM
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