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Home My WebLink About978001 978001 8/15/2014 10:37 AM LINCOLN COUNTY FEES: $21.00 PAGE 1 OF 4 BOOK: 837 PAGE: 799 MORTGAGE JEANNE WAGNER, LINCOLN COUNTY CLERK 1IIIIIIIIII III IIllillIIIIII II IIIIIIII IIIIIIIIIIIH IIIIIIII II1IIi!IIIIIII MORTGAGE DEED WITH RELEASE OF HOMESTEAD GREGORY J. SCHMIDT of Salt Lake County, Utah, MATTHEW N. WALKER of Salt Lake County, Utah, and THOMAS M. JOHNSON of Utah County, Utah, Mortgagors, to secure the payment of ONE HUNDRED SEVENTY FIVE THOUSAND and 00 /100 DOLLARS ($175,000.00), as provided in and evidenced by a promissory note of even date herewith (the "Promissory Note and all renewals, modifications and extensions thereof, do hereby mortgage and warrant to JULIE OLSEN, Mortgagee, of Salt Lake County, State of Utah, the following described parcels of real property (the "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: See Exhibit "A" attached hereto. Together with all and singular the improvements thereon or thereunto appertaining. Mortgagors agree to pay the indebtedness hereby secured according to the Promissory Note, and during the life of this mortgage to pay all taxes and assessments against the Property. If Mortgagors fails to pay such taxes or assessments, Mortgagee may pay the same, and all sums paid by Mortgagee for such purpose shall be added to and considered as a part of the indebtedness and shall draw interest at the same rate. If default occurs in the payment of the indebtedness or in the payment of any installment thereof, or if the default occurs in any of the covenants and agreements hereof or under the aforesaid Promissory Note, then the whole indebtedness shall, at Mortgagee's option, become due and payable forthwith, and Mortgagee may foreclose this mortgage either by advertisement and sale of the Property as provided by the statutes of the State of Wyoming, or by an action in equity. This will be Mortgagee's sole remedy against Mortgagors in case of default by Mortgagor(s). Out of the proceeds of any foreclosure the Mortgagee shall retain or receive all sums due to it hereunder and costs of foreclosure and sale, including reasonable attorney fees, and the same shall be taxed as costs in any equitable action brought to foreclose this mortgage. To fully assure Mortgagee the benefits of the security interest in the Property granted to it hereunder, Mortgagors hereby assigns to Mortgagee all rents hereafter payable for the use and occupancy of the Property by any person in possession thereof with Mortgagor's consent. If default occurs in any of the covenants and agreements herein contained or under the aforesaid Promissory Note, whether or not Mortgagee elects to foreclose this mortgage on account thereof, Mortgagors hereby authorizes Mortgagee to collect the rents from the Property and to apply the same to the payments on the indebtedness secured hereby until such default is remedied. In the event of foreclosure of this mortgage upon default, Mortgagee shall be entitled to the possession and enjoyment of the Property and rents and profits thereof from the time of such 1 default and during the pendency of foreclosure proceedings and period of redemption, if any. If Mortgagors shall fail to surrender such possession to Mortgagee promptly upon its request therefore, Mortgagee may compel delivery thereof by ejectment action or other civil proceedings appropriate for that purpose. Furthermore, in addition to the remedies otherwise provided for in this mortgage and by law and as a matter of right without regard to the solvency or insolvency of Mortgagors, or the value of the Property or the insufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, Mortgagee shall be entitled to receive from the Property the rents, issues and profits thereof from the time of default to the expiration of any redemptive period by law. A receiver may be appointed by any court of competent jurisdiction upon ex parte application without notice, notice being hereby waived and appointment of a receiver upon such application being hereby consented to by the Mortgagors. Mortgagors warrant title to the Property as to parties claiming, by, through or under. Mortgagors only. THE PROPERTY IS NOT AGRICULTURAL PROPERTY AS DEFINED IN WYO. STAT. SS. 1 -18 -103. Dated this 1st day of June, 2014. MORTGAGO GREG R J. J. SCHMIDT, as to his undivided 50% interest as tenant in common MATTHEW N. WALKER, as to his undivided 25% interest as tenant in common THOMAS M. JOHNSON, as to his undivided 25% interest as tenant in common 2 STATE OF UTAH )SS. COUNTY OF SALT LAKE _sr On this day of June, 2014, before me personally appeared GREGORY J. SCHMIDT, known to me to be the persons(s) described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of the right of homestead. —11`'`11614-("Cje NOTARY PUBLIC in an for said County and State My commission expires: I ¶A 3 Tom; BARBARA BA `s: Not ar y Pubic State of Utah t i My Commission Exp ires on: ,F/ January 19, 2017 za• Comm. Number: 661925 STATE OF UTAH SS. COUNTY OF SALT LAKE On this s./ day of JUNE, 2014, before me personally appeared MATTHEW N. WALKER known to me to be the persons(s) described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of the right of homestead. ,�A.— NOTARY PUBLIC in an for said County and State My commission expires: 1-1 1-Ai z BARBARA BALE rr Notary Public State of Utah My Commission Expires on: STATE OF UTAH I January 19, 2017 SS. vs••••' Comm. Number: 661925 COUNTY OF SALT LAKE On this 1 *day of JUNE, 2014, before me personally appeared THOMAS M. JOHNSON known to me to be the persons(s) described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed, including the release and waiver of the right of homestead. NOTARY PUBLIC in an for said County and State p hi --\7 •r. My commission expires: Notary Public BARBARA BALE State of Utah ::f My Commission Expires on: /j January 19, 2017 y comm. Number: 661925 3 EXHIBIT A LEGAL DESCRIPTIONS OF PROPERTY The following parcels of real property located in the Town of Star Valley Ranch, County of Lincoln, state of Wyoming, to wit: Parcel 1: Lot 62, Plat 6, Star Valley Ranch as platted and recorded in the Official Records of Lincoln County, Wyoming. Parcel Id. No. 35183040801300 Parcel 2: Lot 63, Plat 6, Star Valley Ranch as platted and recorded in the Official Records of Lincoln County, Wyoming. Parcel Id. No. 35183040800500 4