HomeMy WebLinkAbout975579TBB Investments Ltd, a Utah limited partnership, and Taft B. Higley and Alain .Noel Higley,
husband and wife whose address is P.O. Box423 ¢enterville, UBs (herein collectively called
"Mortgagor"). to secure the payment of $360,000.00 with interest thereon, as provided in and evidenced by a
promissory note of even date herewith (the ultimate maturity date of which is January 25, 2024) and all
renewals, modification and extensions thereof, do hereby mortgage unto
E. Gregory Higley, Trustee of the E. Gregory Higley Trust dated November 12, 1992, of 1331 Boynton
Kaysville, UT 84037 (herein called "Mortgagee its successors and /or assigns the following described real
property, situate in the County of Lincoln, State of Wyoming, hereby releasing and waiving all rights under
and by virtue of the homestead exemption laws of the State of Wyoming, to -wit:
Mortgagor agrees to pay the indebtedness hereby secured; to pay all taxes, assessments and a tY
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, z w o
covering the improvements on the Property against loss by fire and earthquakes, with extended coverage, in o 0
an amount not less than the unpaid balance of the debt hereby secured, or the insurable value (replacement N c9 S-
cost) of such improvements whichever is less, which insurance shall contain an appropriate loss payable c2
ti' provision protecting Mortgagor and Mortgagee as their respective interests may appear from time to time. In O z
`t the event Mortgagor fails to pay such taxes or assessments, or fails to keep and maintain such insurance as o o
he pay pay z
p rovided Mortgagee ee 9 9 may p Y such taxes and assessments and may secure and P Y for such W o?
insurance, and all sums paid shall be added to and considered a part of the indebtedness hereby secured u- W
and shall draw interest at the ll same rate z 0 O.
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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 proceeding, and
the period of redemption, if any there be.
only.
See attached Exhibit A for description.
Mortgagor warrants title to the Property as to parties claiming, by through or under the Mortgagor
Witness our hands this
c2-
adf.r 4 Brower, General Partner
MORTGAGE
of V \1 gyp., .rc-1/1 2014.
Higley
J
Noel Higley
LL
0
w
STATE OF UTAH
)ss.
COUNTY OF DAVIS
The foregoing instrument was Ic before me e Bradford J. Brower, General Partner of
TBB Investments Ltd, on the day of LrA 2014.
1 ll
My Commission Expires: 011 a-C-cS
Witness my hand and official seal.
STATE OF UTAH
)ss.
COUNTY OF DAVIS
The fore of instrument was ackpowledged before me by Tate G. Higley and Jillair Noel Higley
on the day of t ('r 2014.
Witness my hand and official seal.
ota ublic
My Commission Expires: Lto taL5
ublic
SHERRIE TRYTHALL
Notary Public State of Utoh
My Commission Expires on:
July 26, 2015
Comm. Number: 611957
SHERRIE TRYTHALL
Notary Public State of Utah
My Commission Expires on:
July 26, 2015
Comm. Number: 611957
2
Wasatch Surveying Associates L.L.C.
Ted T. Taggart, P.L.S.
906 Main Street
Evanston, Wyoming 82930
A parcel of land located in Resurvey Tract No. 66, within Sections 28 and 33, Township 27
North, Range 118 West, 6th P.M., Lincoln County, Wyoming, being more particularly described as
follows:
BEGINNING at Angle Point 11 of said Tract 66 and running thence S 89 57' E, 1325.28 feet
along Line 11 -10 Tract 66 to Angle Point 10 thereof;
thence S 6 °03' W, 1312.08 feet along Line 10 -9 Tract 66 to Angle Point 9 thereof;
thence S 7 °00' W, 1314.06 feet along Line 9 -8 Tract 66 to Angle Point 8 thereof;
thence N 89 °58' W, 2650.56 feet along Line 8 -7 Tract 66 to Angle Point 7 thereof;
thence N 6 °52' E, 1314.06 feet along Line 7 -6 Tract 66 to Angle Point 6 thereof;
thence N 6 °13' E, 1309.44 feet along Line 6 -5 Tract 66 to Angle Point 5 thereof;
thence continuing N 6 °13' E, 100.00 feet along the extension northerly of said Line 6 -5
Tract 66;
thence N 89 °54' E, 1324.66 feet, more or less, to a point lying on Line 1 -11 Tract 66;
thence S 6 08' W, 100.00 feet along said Line 1 -11 Tract 66 to the POINT OF
BEGINNING.
Said parcel containing 161.8 acres, more or less.
Fred W. Coles, P.L.S. Stanton G. Taggart, P.L.S.
Boundary Description
Higley Sale Parcel
MODIFICATIONS TO THIS DESCRIPTION SHALL RELIEVE THE ENDORSEE OF
ANY LIABILITY THAT HE MAY HAVE TOWARD THE SUBJECT PROPERTY.
(307) 789 -4545
(307) 789 -5722 fax
Job No. 12 -36