HomeMy WebLinkAbout897840 LINCOL N mn
MORTGAGE -...... '-'. CLERK
JAY STOCKING, OF"~rO. SOX 344, TREMONT0~,~:'U~"'8~6}{ljReein~lectively
called "MORTGAGOR"), to secure the payment of SEVEN T~OUS~D 'F'ZVE ~RED
DOLLARS ( $ 7,500.00), with interest thereon, as provi¢~ i~ ~0~videnced..b~ ¢ ~[omissory
note of even date herewith (the ultimate matur ty date o¢~h~ Z~.~ 16th'8~b'o~'~]~, 2004~
and all renewa s, mod f cat,on and extensions thereof, do heP8'6~-~Sr~ag'~ :66'{d ~BARA L.
B~DAUF, TRUSTEE OF TH~ ~994 B~BA~ L. BALDAUF TRUST DATED ~Ay ~0, Z994
of 2235 S~D~E ~AY, SALT LAKE CITY, UT 84Z~8 {herein called "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:
Lot 69 of Star Valley Ranch Plat 3, 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
Property against loss by fire and earthquakes, with extended coverage, n an amount not less
than the unpaid balance of the debt hereby secured, or the insurable value Ireplacement cost)
of such improvements whichever is less, which insurance shall contain an appropriate loss
payable provision protecting MQRTGAGOR and MORTGA GEE 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 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 mede 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 fi}st 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 ¢epresentatives 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 ail 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,
our hands .this ~ day of March, 4.
~king'
Witness
State of .Wycm,~ng- ~-t~ )
)ss
County of Lincoln ~_/~.~E. )
The foregoing instrument was acknowledged before me by Jay Stocking this ~>_ day of
March, 2004.
Witness my hand and official seal.
My Commission Expires:
Notary Public
NOTARY PU.L,C
)~l 399 NORTH MAIN
~Z$,/ LOGAN UT 84321
~..~.~+~/' My Commission Expires June'7, 2006
~ STATE OF UTAH