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MORTGAGE
RECEIVED
...,.. , CLERK
3~, TR:EMONTON, UT 8~Y7,"(hcrem collectively called "MOR.]:.G~O~".), to. serc~r.e~tl~e'
payment of ~'BP,~,S ?HOU$~ DOT,~AI~S ($3i, 000.00), with in~eTe¢&t,'d~'~r'eon'¢
in and evidenced by a promissory note of evSn date herewith (th~ U'ld~¥e--r~{atu¥it'~f~l~tL~ ~il~
which is the 15TH DAY OF AUGUST, 2004)iand all renewals, modification and ex:~ension.~
thereot, do hereby mortgage unto P.~SSEI',~ iR.. DUKST ]~ox ]336. Th~7nP (herein~'~ 83t27
called "MORTGAGEE"), the following described rea property, situate in t~e County of Lincoln,
State of Wyoming, hereby releasing and ,raving all rights under and by virtue of the
homestead exemption laws of the State of v~'yoming, to-wit:
Lot 126 of Star Valley RanchI P~at 5, Lincoln County, Wyomin9
described on the official pl~t, thereof.
MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes,
assessments and charges levied against the P~roperty, as the same become due and payable;
to secure, maintain and furnish MORTGAGEE. evidence thereof, nsura&ce with an insurance
carrier or carriers acceptable to MORTGAGEI~, covering the insurance improvements on the
Proper~y against loss b~/fire and earthquakes,Iwith extended coverage, in an amount not less
than the unpaid balance of the debt hereby se~:ured, 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 rlsurance ~s 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 indel~tedness hereby secured and slml[ draw interest
at the same.rate.
In case default shall be made in the pa~yment of the above sums hereby secured, or in
the payment of the interest thereon, or any platt of such principal or interest, when the same
shall become due; or In case of default shall b~ 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 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 advertisement and sale/0r as otherwise authorized by governing law,
to foreclose on and sell the Pro party, and out Of the proceeds of such sale, MORTGAGEE shall
pay all sums due hereunder, together with ail costs of sale including reasonable attorney's
fees. If the proceeds of the foreclosure sale ~re insufficient to pay the indebtedness hereby
secured and foreclosure costs, MORTGAGE~ shall be entitled to a deficiency judgment.
In the event of any default whereb~¥ the right of foreclosure occurs hereunder,
MORTGAGEE shall at once become entitled toI exclusive possession, use and enjoyment of the
Property, and to all rents, issues and profits flrom the accruing of any such rights and during
the pendency of the foreclosure proceedingsl 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 Marc,h, 2004.
SI~NC,
,//Jay ~;tocking,
State of Utah )
)ss
County o~kcL~.. )
The foregoing instrument was acknowledge(
Homes Construction, Inc. this ~ 0,-t-~''' day
N(~scmt, l~and an? official seal.
BRENDA ~t'. ~MiTH
399 Nodh Main
My Commiss!on Expires Aug. 1, 2005 ~
s~y~ion Expires:
before me by Jay Stocking, President of Sierra
of March,. 2004.
Notary Public
OD 3ql l I IS3~H100S c;g :9I
~00E-SE-SUW