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BO0~__ ...,, PRP/~O _ t<EOEIVED
LINOOL.f'! nO"~'~'[*/ *
~ MORTGAGE
344, TREMONTG~,J~ (g4%7', (herei~ colle;tively calle, d.."~QBICAGOB';,b l~u;e the
payment of THREE TMOUS~D TWO H~D~D FI FTY DOL~R~:, '($~},<~6 ]~¢6)3 ~'~i~':i,terest
thereon, as provided in and evidenced by a promissorg:hG('~"6~t:~'O~k 8'at~ ~t~With (the
ultimate maturity date of which is ~he 15TH DAY OF AUGUST, 2004), and all renewals,
modification and extensions thereof, do hereby mortgage un~o ~U~S_~LL R. DUKET Box
.Thayne~ ~ (her~in called "MORTGAGEE"), the following de~}ib-&d 7¢a~roperty.
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 27 of Star Valley Ranch Plac 5, Lincoln County, Wyoming as
described on the official pla~ 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, 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 theevsnt 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 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 pnor 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/or as otherwise authorized by governing law,
to foreclose on and sell the Pre party, 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 a t once become entitled to exclusive possession, use and enjoyment of the
Property, and to all rents, issue~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,.b¥ through or under
the MORTGAGOR only.
Witness our hands this ~ day of March, 2004.
State of Utah )
)ss
County of
ION, INC.
/ / Jlay. St ~c-kin~ent
The foregoing instrument was acknow edged before me by Jay Stocking, President of Sierra
Homes Construction, Inc. this ZL,~- day df March, 2004. ~ --~-- = --N~T~RY~U~LIO"~
Witness my hand and official seal. I ~~~ n BRENDA M SMITH
My Commission Expires: ~ I ~ ~ · ~ry ~u~.c STATE OF UTAH
SI/£O'd E096 6&8 60£ 03 3llIl ISBmHIROS ES:gT POO~-S~-~UW