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collecuveiy calle~l MORTGAGOR ), to secure llhe:l~aynie,t of'~,0~N?,t' Tl-lorasmvo DO~.mmS
($?0,000.00), with Interest Thereon, as provided in and evidei~ced by a promissory note
of even date herewith (the ultimate maturity date of which is the 26TH day of NOVEMBER,
2002) and all r:ncw~ls, modification and extensions thereof, do h~rcby mortgage unto
F. CLARK AND EVA N. CLARK, HUSBAND AND WIFE of P.O. OX 249, COKEVILLE,
WY 83114 {herein celled "MORTGAGEE"), the following described real property, situate in the
County of Lincoln, State of Wyoming, hereby releasing and waving all rights under and by
virtue of the homestead exemption laws of the State of Wyoming, to-wit:
Tract No. 37 of Section 4 T26N RllRW o~ the 6th.P.M. Lincoln
County, Wyoming. ' '
LESS AND EXCEPT the land contained in instrumed%: recorded June 16,
1976 in Book 127PR on pa~e 302 of =he records of the Lincoln County
Clerk.
LESS AND EXCEPT the land contained in instrumen~ recorded November
~0, ~000 in Book 456PR on page ~7 of the records of the Lincoln
County Clerk.
MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes,
assessments and charges levied against the Property, as th~ same become due and payable;
to secure, maintain and furnish MORTGAGEE evidence thereof,~ insurance with an insurance
carrier or carriers acceptable to MORTGAGEE, covering the Insurance Improvements on the
Property against loss by fire and earthquakes, with eXtended coverage, in an amount not less
than the unpaid, balance of the debt hereby secured, or the insurable value {replacement cost)
~f such improvements whichever is less, which insurance shall contain an appropriate loss
payable provision protecting MORTGAGOR and MORTGAGEE as their respective interests may
appear from time to time. In the event MORTGAGOR falls to pay such taxes or assessments,
or fails to keep and maintain such insurance as herein provided, MORTGAGEE may pay such
taxes and assessments and may secure and pay for such insurance, and all sums so paid shall
be added to and considered a part of the indebtedness hereby secured and shall draw interest
at the same rate.
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, atthe option of MORTGAGEE, and MORTGAGEE'S legal representatives and
assigns, may proceed by;adveKisemant and sa]e/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 ali sums due hereunder,' together with all costs of sale including reasonable attorney's
fees. If the pro~eeds of the foreclosure sale are InsuffiGlent to pay the 113debtedness hereby
secured and foreclosure costa, MORTGAGEE shall be entitled to · deficiency judgment.
509
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 ell rents, issues and profits from the aocruing of any such rights and during
the pendency of the foreclosure prooeedings, and the period of redemption, if any there be.
MORTGAGOR warrants title to the Property as to parties c{aiming, by through or under
the MORTGAGOR only.
Witness our hands this ~{ #'~ day of November, 2002.
State of Utah
County of Davls
The foregoing instrument was acknowledged before me by E. Gregory oH~lley, Trustee under
a revocable declaration of trust dated November 12, 1992 this ~ _ day of November,
2002.
Witness my hand and official seal,
My Commission I=xpires: -~-/'~'~- ~ ~
Notary Publi~
NOT^ ay mm~;'~ ......
PATTI BROWN
1781 W. Anlelopo Dr.
Laylon. Utah 8~041
Commission Expires
May ! 5, 2005
S'J~A_'J'E ()JD' IJTA il