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MORTGAGE
RECEIVED.
LINCOLN COUNT? CLERK.
03 OCT 2 9 P 112 5 5
' ..... ' ,JEANNE WAGNEF
PHIL HAMILTON AND JULIE HAMILTON, HUSBAND AND W'~,~f~, p;'T,.~.~
BROADWAY #324, JACKSON, WY 83001, (herein collectively called "MORIGAGOR"), to.
secure the payment of NINE THOUSAND FIVE HUNDRED DOLLARS ($9,500.00), with
interest thereon, as provided in and evidenced by a promissory note of even date herewith (the
ultimate maturity date of which is the 22 day. of OCTOBER, 2006) and all renewals,
modification and extensions thereof, dO hereby' mortgage unto OWV. N M. HIGGS AND
JANICE A. HIGGS, HUSBAND AND WIFE., of 250 MEADOW" RIDGE LOOP,
RICHMOND, WA 99352 (herein called "MORIGAGEE"), 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:
Lot 105 of Star Valley Ranch Plat 6, Lincoln County, Wyoming as
described on the official plat thereof.
MORTGAGOR 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 carriers acceptable to MORTGAGEE, covering the insurance improvements on the
Properly 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)
of 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 fails 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 pad 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, 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 proceedings, and the period of redemption, if any there
be.
· MORTGAGOR warrants title to the Property as to parties claiming, by through or under
the MORTGAGOR only.
Witness our hands this (~ ~''/' day of October, 2003.
0 Julie Hamilton
555
State of Wyoming
County of LinColn
)ss
)
The fore_gqip, g instrument was acknowledged before me by Phil Hamilton and Julie Hamilton
thisK-~c~' day of October, 2003.
Witness my hand and official seal.
Notary Public