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TIIIS MORTGAGE is granted by SHAWN L YOUNGLOVE and ANDRI54 G. YOUNGLOVE, httsbti;td a.d wife, as'
MORTG4GOR. to
THE BANK OF COM3~IERCE, as Trustee for the benefit of the LAURENCE B. REINtlART 110l, ct~ MORTGAGEE
W1TNE&gE TII:
3~(ortgago,; fo;' good aad valuable considerations, the receipt of which is hereby acknowledged, does hereby GRANI~ BARGAIN. SELl., CONVEY
AND WARIOtNT, and fia'ther releases a~td waives all rights under and by virtue of the homestead exemption laws of Wyoming, unto the Mortgagee,
.his x, uccessors and assigns, all of the following described realproperty, to wit:
Lot 183 of Nordic Ranches Division No. 13, Lincoln Colt;tO,, II/.},Omiltg aS described o;t the oj]icial plat thereof
TOGETHER WITIt any and all intprovements, water and ditch rights, rights t?/' ways et~s'emenls, privileges, ventilating, tenements,
hereditaments and appurtenances thereunto belonging or in anywise appertai~ti.g, now or hereafter used on said land or belonging to
said fi¥ortgago~; and any reversion, t'emainder, rents, issues and profits there(f, hereim~er referred to as the "Proper0,".
lids grant is intended as a Mortgage, a F£rture Filing and SecuriO, Interest for the l'ml~ose of .gecuri.g:
!. Performance of each agreement of Mortgagor herein contained, each agreemem a.d covena.t cbntained in the loan document~ associated with
this mortgage, and a.y extension, renewal, modification anti/or atnendment thereof 'Lot. doc.ments" shall itrclade the above desc. ribed note, this
mortgage, and at9~ other documents or instruments signed itt connedtion with this loss.
2. Payment of the indebtedaess evidenced by a promissory note of even date herewith, at~d any extension or renewal therec~ in the prit~cipal sum
of ONE TtlOUSAND ,YL¥ tlUNDRED FORTY FOUR AND 84/100 ($1,644.84), the fi.al payment of principal and i. terest thereof if not sooner
paid, tO be finally due and payable JULY 22, 2005.
3. Payment of all such fitrthersums as may hereafter be loaned or advanced by the Mortgageefi)r any purpose; and any notes, drafts ami/or other
instruments representing such fi~rther loans, advances or expenditures shall be optional with the Mortgagee. a.d shall become d~te and pco, able
later than the final maturiO, date of said note secured hereby; and provided fitrther, that it is the express intention of the parties to this Mortgage that
it shall stand cfi* continuing security until all s~ch loans, advances or e.xpenditures together with interest thereon, are paid in fidl.
A. lb protect the securiO, oft/frs Mortgage~ 3~ortgagor warrants, covenants and agrees:
1. 17~e property is Jkee from all encumbrances, except ax may be described herein, ami that Mortgagor shall warrant trod defend the same forever
against the lawful claims and demands of all persons whomsoever, and this covemmt a'hall not be extingaished by foreclosure or othqr tramfers.
2. To keep all buildings and other improvements now or hereafter existing in good comlition a.d repair; to trot remove or demolish a.y buihliag
or other improvement thereon; to complete or restorepromptly and in a good workm(mxhiplike manner any improvement which may be constructed.
damaged or destroyed thereon; to pay when dae all claims for labor performed ami materials fitrnished thereto or therefi)r; to comply with all laws
affecting said properO, or req.iring any alterations or improvements to be made thereon; to not commit or permit waxte thereof or thereon; to
maintain, cultivate, irrigate, fertilize, fimdgate, prune, all in a good and husbandt3,1i,~e m'c{tmet; the land and improvements thereto; to not change or
permit change in the use of the property; to not do anything which would redace the vahre of the property; and do all other acts which from the
character or use of said properly may be reasonably necessary, the specific enumeratio.s herein not excluding the general.
3. To provide, maintain and deliver fire insurance satisfactory attd with loss payable to Mortgagee; to mai.rain liability it ~urance; to pal)J all
premiums and charges on all such insurance when due; and to Provide ~lortgagee sati.~ifitctoo, evidence of such iaxurance upon request. The amoant
collectedunder any fire or other insurancepolicy may, at Mortgagee's option and determiaation, be applied upon any ittdebtednesssecured hereby
such order cg Mortgagee determines, be releaxed to Mortgagor in whole or part. or any combination tltereof Such application or r'el~5'e shall not
cure or waive any default or notice of defaall hereunder or invalidate any act done pur.~uant to stroh notice.
4. To pay before delinquency all taxes, a~sessments, or rents affecting said prot~erO,,' to pcO, whett dae all et c t. brances, charges and liens, with
i~.terest~ affecting said property which are or may appear to be prior or superior hereto; and to pa), all costs, fees arm expenses q/this Mortgage and
sociated loan documents,
5. To pay immediately and without demand all sams expended by bIortgagee pursuant to the provisions here(( with interest from date of
expenditare, at a rate eqaal to the interest rate payable under the promissory note described above or twelvepercent (12%) pet' stream, whichever is
greater.
6. To appear in and defe.d any action or proceedingpurporting to affect the secariO, hereof or the rights or powerx of Mortgagee; tops3; on
demand, all costs and expenses, including without limilation, cost of title evidence, rec~'onable attorney's fees. advances, ami/or cost. V. paid or
incurred by Mortgagee to protect or enforce its rights under bat~krupt<y, appetlate proceedi.gs or otherwise, a.d all such costs and expet~ses shall
become a part of the indebtedness secm'ed by this mortgage.
7. Should Mortgagor fail to make any payment or to do any act ax herein provided, Mortgagee. but without obligation so to do sad without notice
or demand apon 34ortgagor and withoat releasing Mortgagor fi'om any obligation here,f may: make or do the same in such manner a.d to s~ch
extent ax Mortgagee may deem necessary to protect the security hereof A.Iortgagee being arrthorized to enter ~q~otr said propertyfijr such purposes;
appear in and defend any ac/ion " : '
or proceedmg purporttng to affect the,security herct~f or the rights or powers of Mortgagee; pay, p.rcha~'e, contest
or compromise any encumbrance, charge or lien which in the judgment of Mortgagee .ppears to be prior or superior hereto; and in exercising any
such powers or in enforcing this 3/lortgage by judicial foreclosure or otherwise, pay the .ecessary expenses, costs and reaxonable attorney
8. To comply with all laws. ordinances, regttlations, covenants, conditions and rea'trictio.s affecting the Property and its use. includi.g wilho.t
limitation all environmental laws; not to use or permit the use of the Property for any unlan~d or objectionable purpose; to remedy any
environmental contamination or violation of environmental laws that may occur or be discovered in the fitture; to allow 3.(ortgagee access to the
Property to inspect its condition and to test and monitor for compliance with appli,,al,le laws (any inspections or tests made by Mortgagee shall be
for Mortgagee'xpurposes only and shall not be co.strued to create any respoaxibili(vor liability o. the part of i~Iortgagee to Mortgagor or to any
other perso~O; to forward copies of any notices received from any environmental age,totes to btortgagee; and to Indemnify and hold Mortgagee. his
employees, agents and his successors and assigns, harmless from and against a~9~ en viromne.tal claims of any kind, attd al! costs and expeases
incurred in connection theretgith, including, without limitation, attorney'~ fees.
9. Any award of damages itt connection with any condemnation for pablic use of or injuO, to said property or att3, part therer~ ia' hereby assig.ed
and shall be paid to Mortgagee who may apply or relecmesuch monies receivedb), /tim in the same n~anner and with the same qD~ect a4, above
provided for disposition of proceeds of fire or other insurance.
10. The failure of Mortgagee to exercise any right or option provided herein at a~t ~ time, shall not preclude Mortgagee fram exercising say of such
rights tit any other time; by acceptingpayment of any stttIt secured hereby after its due dale, Mortgagee does not waive his right either to require
prompt payment whe~t due of all other sums so secured or to declare default for f. i/rtre so to pay; all rights conferred o. Mortgagee are cum.lative
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and addition'al to any rights c'ot!ferred by law;' and if any provision is fotmd to be invalid or unenforceable, such invalidity or unenfigrceabilityshall
not c~feet ato~ other provision hereof and the mortgage shall be construed t~ tboagh stroh provixion had been omitted.
11. As additional security, Mortgagor hereby gives to and cotters upon gffortgagee the right, power and attthority, dtfing the continuance of this
mortgage, to collect the rents, issues and profits of said property ~ they become d,e ami payable; Reserving however ttnlo b[ortgagor, ~rior
default by gffortgagor in payment of ,.o, indebtednesssecured hereby or in pe~ortnance of a,o, agreement bet'em,der, the right to collect at,I t'etain
such rents, issu~ and prcffits. Upon any such defi~ult, Mortgagee may at any time without notice, either in person, hY agent or court appointed
receiver, and without regard to the adeqaacy of any security for the indebtedtmss here&l, secured, enter upon and take possession of said properO, or
at9J part thereof in his o~vn name sue for or otherwise collect such rents, issaes ami pre?fit. Y, inclading those pa~t dae attd unpaid, and ap[)(p the
same, less costs atul expenses of operation and collection, includitig re~onable attotwey's fees, ~q~on any indebtedness secured hereby, and iii sach
order ~ Mortgagee nmy determine. 77~e entering upon and taking possession of said properO,, the collection of such re~ts, issnes and proJic~ and the
application thereof re~ aforesaid, shall not cure or waive arty default hereunder or invalidate any act done pursuant to any such default notice.
12. DUE ON SALE: The iadebtedness and obligations secured by this mortgage is personal to d~e ~[ortgagor and is not t~signable by Mortgagor.
Mortgagee ha~ relied upon the credit of 31ortgagor, the interest of &lortgagor in the Property and the financial market conditions then existing when
making this loan. ff Mortgagor tramfers or contracts to transfer, title w or possessiot~ of all or part of the Proper& or any equitable interest
therein, whether by deed, contract for deed, ~signment, le~e for a term in excess qf one year, lec~'e with an option to p,rchaYe, option to pm'chase,
or similar agreement; or ~ the ownership of any corporation or partnership, ownit~g all or a,tV portion of the Property shall be changed either b)[
voluntary or involuntary sale or transfer or by operation of la}q Mortgagee may declare all sums dae under any not< sec,ri(y agreement, ami/or
loan clocaments ~sociated herewith, immediately due and payable. Noncompliance with this coveaant shall constitate and be a defatdt of this
obligation which shall entitle ~tortgagee to eJfectuate any and all remediesprovided
13.' Time is of the essence m~d a material part of this agreement, b* the event r~f ,tefbalt, at Mortgagee's option, the entire imlebtednesa~ecm'ed
hereby shall forthwith become dae and payable and bear interest at the rate q' TWEL lIE I'ER CENT (12%) per annant; Mortgagee shall have the
right to foreclose the lien of this mortgage, to have a receiver appointed in m9, court proceeding, to collect any rents, issaes and prc?fits~'om the
ProperO, and apply them against the indebtedness hereby secured; to sell the ProperO, at foreclosure en mm'se, or c~ one lot or parcel at the option
of Mortgagee, attd to exercise arty rights and remedies available under the (ht~orm Com,tercial Code for the State in which the properO" is located;
and rec~onable notice ~ required by such Code shall be five (5) days.
14. The Mortgagee nmy at arty time, without notice, reler~e portions of said mortgaged premises from the lien ~( this mortgage, withoat cfffecting
the personal liabili(~ of any person for the payment of the said indebtedness or the lien of this mortgage upon the/emainderof the mortgaged
premises for the fitll amount of said indebtedness then remaining unpaid. . '
15. Mortgagor and each of them join in this' instrument for the purpose of subjecti~g each of-their right, title and interest, ~ any, in the Proper(y,
whether of record or otherwise and inch,ting any right to possession, to the lien qf thix mortgage.
16. This mortgage, all loan docaments and the note6Q secured hereby shall be governed and construed according to the lan,s of the State of
8~oming. In the event of default, Mortgagor grants to Mortgagee a Power of Stde to foreclose on and sell said properO, at p,blic auction pursaant
to Wyoming StatuteS ection 34-4-101 er'seq.
1 7. This mortgage applies to, inures to the benefit of and bindv allparties hereto, their helm, devisees, personal representatives, succe~'sors and
~signs, 17~e term Mortgagee shall mean the holder and owner of the note secured hereby; or ~ the note hc~ been pledged, the pledgee thereof
this Mortgage, wherever the context so reqaires, the m~culine gender includ~ the Jbmini~te and/or ~teater, and the singalar number inclades the
plural.
Dated.' [ ]
Shawn L. Yoanglove [ [
Andrea G. Yo,t~glove
STATE OF IDAHO )
/ )
COUNTY OF BONNEVILLE j )
On ~ , , before me, the
undersigned, personally appeared Shaft L Younglove and Andrea O. Younglove.
Icno~n or ident~'ed to me to be tbe~ot~s wl:ose names are ~ubscribed to
within inst~rnent, and ackno~ged to me that they executed the same.
/
Nor~r FOR r~16' SI~gE OF
~ommissio~
Real Estate ]14~ortgage (1/99) - Page 2 .
wn/~qb,-dic3tl'(I
STATE OF IDAItO
COUNTY OF ~__j~c_/ut ~ O ,~j
On July 22, 2004, before me,
)
)ss.
)
tile undersigned, personally appeared Sbawn L.
Younglove and Andrea G. Younglove, known or identified to me to be the person(s)
Whose name(s) are subscribed to the within instrument, and acknowledged to me that
they executed the same.
Commission Exp?/es: 7- / ~ w ~