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Till3 MORTGAGE is granted by CtlRISTY' G. POWELL, a single wotttatl, els MORTGAGOR, to
BANK OF COMJI~rERCE, as Trustee.[bt' the benefit of the LAURENCE B. REINHART IRA. ,~ MORrG/IGEE.
WI 1)¥E,g,$'E 7'11:
Mo,'tgagor,./br good and valuable considerations, lite receipt of which is hereby acknowledged, does hereby GIMN7; BARGAI~ SELL. CONFEY
AND WARRANI; and jhrther releases and wtdYea all rights under and by virtue of the homestead exemption laws of tVj,oming, unto the ~Iortgagee.
his successors and (z~'sigt~s, all of the fi)llowing described real property, to wit:
Lot 185 itt Nordic Rateches Division No. 13, Littcollt Cotln~ ~yomiitg as described oft the
official plat th ereof
TOGETIIER WITII say attd all improgemems. 'water and ditch rights, rights of ways, ermentents, privileges, ventilati.g, tenements.
hereditaments cud aptmrtettances thereunto beh, ngmg or itt anywise appertaining, now or hereafter used on said land or belonging to
said Mortgagor; and any reverstott, rem :dnder. rents, issaes and profits therec?~ hereinc~errej~rred to ~ the "Property".
This grant is inteaded as a 31ortgage, u F~rturc ]Piling and SecarlO~ Interest for tire Ptt~ose of Securing:
1. Performance of each agreement of 34ortg :tg~or herein contaiaed, each agreement and covenant contained in the Ioaa documents r~sociated witt~
this mortgage, sad an), extension, renewal, modq~cation and/or amendment thereq~ "Loan documents;' shall ittchde the above described aote. this
mortgage, and any other docantents or instrtanentsstgned in connection with this loan
2. Payment of the indebtedness evidenced b3 a promissory note ~of even date herewith, and aay extension or renewal thereo/ in the principal sum
of FOUR THOUSAND FIVE HUNDR.,~D SEI/ENTY ONE AND 57/100 ($4,5 71.5D. the final pay.tent of princcal and interest
thereo~ ~,,ot sooner paid. to be final6, due and payable JUL Y 1, 2005,
3, Payment of all such fitrther sums a~' may herer~terbe loaned or advattced I~v the Mortgagee for any parpose; and any notes, drt~s and/or other
instrumet~ts representingsuch fitrther loans, advances or expendituresshall be optional writ the ktortgagee, attd stroll become due attd payable no
later than the final maturiO, date of said note secured hereby; attd provided fi~rthet; that it is the expr~s intentioa of the parties to this Mortgage that
it shall stand r~ continaing securiO~ until all such loans, advances or expenditar~ together with interest thereon, are paid in fidl.
A. To protect the security of this' 3lortgage, &[ortgagor warrants~ covens.ts sad ttgrees:
1. The property is free from all encambrances, except ~ may be described herein, a~id that ~[ortgagor shall warrant and dej~nd the same forever
against the latt~d claims and demamls of all persons who.~oeve~; an d this covenant shall not be extinguishedby foreclosureor other transfers.
2. 7b keep all buildings and other improvemeats now or hereafter existing in good condition and repair: to not remove or demolish at~y building
or other improventent thereon; ~o complete or restore promptly and in a good workmanshiplike manner any intprovement which nmy be constructed,
damaged or destroyed thereoa; to pay when due all claims for labor performed and mttterials fitraished thereto or therefor; to compl), with all laws
c~fecting said property or requiring any alteratio.s or tmproveme~lts to be made thereon; to not comtntt or permit waste thereof or thereon; to
maintain, cultivate, irrigate, fertilize, fionigat< l~t'ult< all in a good and husbandrylike manner, the ImM and ttn~rovetnenls thereto, to not change or
permit change it~ the ase of the property; to not do auything which wonld rednce the vahte of the property; and do all other acta' which fi'om the
character or use of said property may be rec~o,mbly necessary, the spec~c enumerations herein .or excluding the general,
3. 7b provide, maintain and deliver fire inst'r ance satisfitctot7 and with loss p~o'able ~o ~[ortgagee; to maintain liabiliO, insurance; to pay all
prenn'~ans and charges on all such insurance when dne; and to provide ~[ortgagee.¥atia~tctoo, evidence of such insurance upon requm't. The r.nount
collected under any fire or other tnsurance poliq:J may, at Mortgagee ~ option ami rletermination, be applied upon any i~,debtedness secured hereby in
such order c~ Mortgagee determines, be rele~cd to Mortgagor in whole or part, or any combination thereof Such application or reler~e shall not
cure or waive any defauh or notice of defimlt hereunder or in validate any act done pursuant to such notice.
4. To pay before deli~qnency all trges, a~se~'xments, or rents affecting aaid property; to pay when dae all encumbrancea, charg~ and lien~, with
interest, c~fecting said property which are or may appear to be prior or superior hereto; rind to pay all costs, fe~ and expens~ of this Mortgage and
t~sociated loan documents.
5, To pay immediatelyand without demand c~ll sums expended by 3~ortgagee pursuant to the provisions hereo/ with interest from date of
expenditure, at a rate equal to the interest rate .~ayable totder the promissory note described above or twelve perceat (12%) per amuo., whichever is
greater. ~
6. To appear in and defend any action or p .oceeding parporling to affect the security hereof or the rights or powers of ~ortgagee; to
demand, all costs and expenses inclading wlthout limitation, cost of title evidence, rec~onable attorneyS fees, advances, and/or costs, paid or '
incurred by Mortgagee to protect or e~orce its,,'ights under bankruptcy, appellate proceedings or otherwise, and all such casts attd expenses shall
become a part of the indebtedness aecurelt b), ti:is mortgage.
7. Shotdd Mortgagor fail to make auy pay.tent or to do any act r~ herein provided, Mortgagee, but without obligation so to do and without notice
Or demand upon Mortgagor and without relet~si,sg a~ortgagor fi'om any obligatio~ hereo/ may: make or do the same in such manner attd to such
extent r~ Mortgagee may deem nec~sao' to }Jrr:?ect the security hereojj ~¢ortgagee being authorized to enter upon said propertgfor such purposes;
appear in and defend any action or proceeding pnrporting to affect the security hereof or the rights or powers of Mortgagee; pay, purchme, contest
or compromise any encumbrance, charge or~liet which in the judgment of ~fortgagee appears to be prior or saperior hereto; and in exercising any
such powers or in e~orci.g this Mortgage by j., dicial foreclosure or otherwis< poy the necessaO' expenses, costa' and ret~onable attorney 5 fees.
8. To comply with all laws, ordinance, regulations, covenants, conditions atM restrictions c~fecting the ProperO, and its use. inchtding without
limitation all environmental laws; not to use o,' permit the use of the ProperO,for any unlawfid or objectionable purpose; to remedy any
environmental contamiaation or violation o~ et viromnental laws that may occar or be discovered in the fi~tare; to allow klortgagee access to the
prOPerty to im~ect its condition and to test and monitor for compliance with applicr~ble laws (an~ inspections or tests made by ~[ortgagee shall be
for Alortgagee ~ purposes only and shall not be construed to create any r~xponsibilio'or liability on the part of Mortgagee to Mortgagor or to
other perso~O; to fi~rward copies of any notices received from any environmental agencies to Mortgagee; and to Indemnify and hold Mortgagee, his
employees, agents attd his successors and asfig:ss, harndess from and against any environme.tal clain~ of any kin& and all coxt~ and expenses
incurred in connection therewith, ittclading, without limitation, attorney 5fees.
9. Any award of damages itt connection with any condemtlation for public use t~f or i~qurv to said property or any part thereo~ is hereby re. signed
arm shall be paid to g~ortgagee who may apply or releg~esi~ch monies received by him in the sante Ittanner and with the same effe~ as above
provided for disposition of proceeds of fire or other insurance.
10. The failure of Mortgagee to e.,'e~cise any right Or option provided herein at any time, shall not prechtde Mortgagee fi'om exercising any of such
rights at any other time; by accepting paym~nt c~ any snm secured hereby after its due date, Mortgagee do~ not waive his right either to require
prompt payment when due of all other st.ns so secured or to declare defi~ult for failure so to pay; all rights cotq~rred oa ~lortgagee are camulative
and additional to any rights cot~erred by hm;' ~md ~any provision is fiJund to be invalid or unenforceable, sach invalidity or unat~orceabilityshall
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noI affecl any olber provision hereof and lhe morfgage'shall be couslrued ~ lhough such provision had been omilled.
11. Jx additional securiO,, Morlgagor hereby gives lo and co~ers iq~on Morlgagee the righl, power and aul!mrily, during lhe continuance of tiffs
morlgage, lo collecl lbe rent& issues and profifg' of said properly ~ riley become due and payable; Rescuing however unlo Morfgago~; prior Io any
dcfaull by Morlgagor in paymeal of any indeblgdness secured hereby or in performance of any agreemeal hereunder, Ibc right fo collec¢ and relain
such renls, issues and profilx. Upou mW such clef gulf, ~[orlgagee may al any time wilhoaf notice, either in per, on, by agent or court appoinled
receiver, and wilhoal regard 10 fl~e a&quacy oj. any securifyfor Ihe indebtedness hereby ~ecured enter upon and lake poss~sion of said properly or
any parl thereof in his own name sue for or olberwise collecl such renls, issues and profits, including lhose p~l due aad unpaid and apply the
same, lesx cosls and expenses of operation and ~ollecfion, including re~'onable alloraey 5fees, upon any indebtedness secured hereby, and in such
or&r ~ Morlgagee may delermine. The enleri.~g upoa and laMng possession of said properly, Ihe collecliou of such rents, issu~ and profils and Ihe
application fl~ereof as r~oresaid shall nol cm'e or waive any defind~ hereunder or invalidate any act done pursuant lo any such defmdf notice.
12. DUE ON SALE: The indeble~b~ess and ~:bligalions secured by Ibis mortgage is personal Io Ihe Mortgagor and ix not ~signable by Morlgagor.
Mortgagee h~ relied npon lhe credit of A~orlgngor, lhe inleresl of Jlorfgagor ia the ProperO, and Ihe financial market conditions then exkliag when
making Il, is loan. If Morlgagor lransfers or co::lAacls Io Iran&r, lille fo or possession of all or part of lhe Properly, or any equilable inler~'l
lhe,'ein, whelher by deed conlracf for deed ~s:gn,nenl, Ieee for a lerm in excexs of one year, le~ue with an oplion lo purcb~e, opfioa lo purchase,
or similar agreemenC or ~ ll~e ownerMffp of any Corporafioa or partnerM~ip, owning all or any portion of the Properly sball be changed eilher by
voluntary or invohmtary sale or transfer or by 5peration of law, 3{ortgagee may declare all sums due under any note, security agreement, and/or
loan docuntents t~sociated herewith, imntediate,y }tue and payable. Noncompliance with this covenant shall constitute and be a defi~ult of this
obligation which shall entitle Mortgagee to effectt~ate any and all remediesprovided.
13. J~tne is of the essettce and a material part ,:f this agreement. In the event qf defitult, at Mortgagee ~ option, the eutire iudebtedum's secured
hereby sh.all forthwith become dae and payable :m~d bear inter~t at the rate of TWELVE PERCENT (12%) per annuta; Mortgagee shall have the
right to fi~reclose the lien of this mortgage, to h.ave a receiver appointed in any court proceeding, to collect any reuts, issues and prr~tspota the
Proper(v and apply them against the indebtedness hereby secure&' to sell the ProperO, at foreclosure en mt~se, or ~ one lot or parcel at the option
re~nedtes avatlable under the Uu~orm Commercial Cbde for the State iu which the properO' is locate&'
of Mortgagee, and to exercise any rights and i . ·
and reasonable notice ~required by such Code sl~all be five (5) days.
14. The Mortgagee may at aay time, without notice, rele~'e portions of said mortgaged premises from the lien of this mortgage, without t~fecting
the personal liabiliO, of any person for the payn{ei~t (~ the said indebtedness or the lien of this mortgage upon the remainder of the mortgaged
premises for the full amoant r~ said iudebtedne.~ s lhen remaining unpaid
15. Mortgagor and each of them join in this ;nstrument for the purpose.ofsubjectiug each of their right, title and interest, ~ any, in the Property,
whether of record or otherwise and inch,ting any right to poss~sion, to the lien of this mortgage.
16. This mortgage, all loan documents and the note(s) secured hereby shall be governed and construed according to the laws of the State of
Wyoming. b~ the event of default, Mortgagor grants to Mortgagee a Power of Sale to foreclose on and sell said property at public auction pursuant
to Wyoming Statute Section 34-4-101 et.'seq.
17. This mortgage applies to, inures to the benefit of and binds all parties hereto, their heirs, devise~, personal repr~&ntativ~,successors and
r~signs. The term Mortgagee shall mean the holder and owner of the note secured hereby; or ~ the note h~ been pledge4 the pledgee thereof In
this Mortgage, wherever the context so requires, the masculine gender includes the feminine and/or neuter, and the singular number includ~ the
plural.
Dated: Juue 30, 2004
STATE OF IDAHO )
On June 30.2004, before me. the undeczigned, personally appeared
Christy G~owell known or idenlqied to me to be the person Whose name is
subscribd~to fha within inst~ment~ad aektwwledg~d to me flint she executed the
Notaq Public for Idaho
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