HomeMy WebLinkAbout894627 RECEIVED
LINCOLN COUNTY CLERK
MORTGAGE
89 627
: ;OOK PAGE 2___!3__ 03 0OT 2 PH 3: h 9
JEANNE WAGNER
~hNOW ALL PERSON~ BY THESE PRESENTS, that Charles S:!'~'~i[~l~sRaEn~d ~i;(~
Barnes, husband and wife, of 757 South 425 East, Brigham City, Utah 84302, and L. Wayne
Shepherd and Cheryle H. Shepherd, husband and wife, of 191 North Main, Malad, Idaho 83252,
joint tenants (hereinafter collectively "Mortagagor"), to secure the payment of Twelve Thousand
Dollars ($12, 000.00), with interest thereon, as Provided in and evidenced by a Promissory Note
of even date herewith (with a maturity date of November 6, 2005), and all renewals,
modifications, and extensions thereof, do hereby mortgage unto Woodruff David Smith, a
married man as his sole and separate property, of P.O. Box 1896, Idaho Falls, Idaho 83403
(hereinafter "Mortgagee") 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:
Lot 52 in Star Valley Ranch Plat 8, as platted and recorded in the land records of
Lincoln County, Wyoming.
Including and together with all and singular tenements, hereditaments,
appurtenances, and improvements thereon or thereunto belonging (hereinafter the
"Property").
Mortagagor agrees to pay the indebtedness hereby secured; to pay all taxes, assessments,
and 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 caniers
acceptable to Mortgagee, covering the insurable improvements on the Property against loss by
fn'e, with extended coverage, in an amount not less than the unpaid balance of the debt hereby
secured, or the insurable value of such improvements, wlfichever is less, Milch insurance shall
contain an appropriate loss payable provision protecting Mortgagor and Morgagee as their
respective interests may appear from time to time. The insurance proceeds or any part thereof,
shall at the option of the mortgagor, be applied either to the reconstruction of improvements on
the Property or to the payment of indebtedness hereby secured. In the event Mortgagor fails to
pay such taxes and assessments, or fails to keep and maintain such insurance as herein provided,
Mortgagor may pay such taxes and assesslnents 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 interest thereon, or any part of such principal or interest, when the same shall become
due; or in the case default shall be made in any of the covenants and agreements thereof, wlfich
default is not cured within thirty (30) days after notice thereof is given by Mortgagor, or in the
event that 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 and/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 be 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 Proceedings, and the period of redemption, if there be on.
Mortgagor warrants title to the Property as to parties clai~ning by or through or under
Mortgagor only.
The Property is not agricultural property as defined in Wyoming Statutes {} 1-18-103.
WITNESS our hands this
day of October, 2003.
21.4
· CHARLES S. BARNES
CAMEO BARNES
L. ~vVA~NE SI~EPH-ERD t
STATE OF )
) ss.
coUNt3: OF )
THE FOREGOING INSTRUMENT was acknowledged before me by CHARLES S.
BARNES and CAMEO BARNES tlfis day of October, 2003.
WITNESS my hand and official seal.
My Co~mnission expires:
NOTARY PUBLIC
STATE OF ~//~d9 )
)ss.
¢OUN O )
THE FOREGOING INSTRUMENT was acknowledged before
SHEPHERD and CHERYLE H. SHEPHERD this/~"-~day of October,
me by L. WAYNE
2003.
WITNESS my hand and olI~cmk~.,A
~...
'o~ ur
~y Co]~ssion e~pi~es:
WITNESS our hands this !'7 day of October, 2003.
7. I5
dXMEO BARNES
L. WAYNESHEPHERD
CHERYLE H. SHEPHERD
STATE OF
COUNTY OF
THE FOREGOING INSTRUMENT was acknowledged before me by CHARLES S.
BARNES and CAMEO BARNES this I'~q day of October, 2003.
WITNESS my hand and official seal.
NOTARY RUBLIC
My Commission expires .. _} [
STATE OF )
) ss.
COUNTY OF )
CHRYSTAL BUTLER I
NOTARY PUBLIC, STARE OF UTAH
I
TREMONTON, UTAH 84337
COMM. EXP, JULY 17~ 2007
THE FOREGOING INSTRUMENT was acknowledged before me by L. WAYNE
SHEPHERD and CHERYLE H. SHEPHERD this __ day of October, 2003.
WITNESS my hand and official seal.
My Commission expires:
NOTARY PUBLIC