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Home My WebLink About903925 il ECE IVED MORTGAGE,':, (':OUNTY CLERK 903925 KNOW ALL PERSONS BY THESE PRESENTS,. that M,p..~,5'~-DEVELOPMENT, INC., a Cah~orma Co~oranon, 201 Jo~ Street fl K, Sahna~;-C~lff0m¢~,~3901 (hereinafter 'Moagagor ), to secure the payment of Twenty-One Fhousand Six Hundred Dollars ($21,600.00), with interest thereon, as provided in and evidenced by a Promissory Note of even date herewith (with a maturity date ot September 18, 2006), and all renewals, modifications, and extensions thereof, does hereby moggage unto STEPIIEN M. WEBER and EVELYN WEBER, husb~d and wire, ot 10638 Castle Pine Drive, Highland, Utah 84003 (hereinafter collectively "Mo~gagee") the following described real property, situate in the County Lincoln, State of Wyoming, hereby releasing and waiving all rights under ~d by vi~ue o¢ the homestead exemption laws of the State o¢ Wyoming, to wit: Lot 7 in Star Valley Ranch Plat 14, Lincoln County, Wyoming as described on the official plat thereof. Together with all and singular thc improvements thereon or thereunto appertaining (hereinafter the "Property"). 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 insurable improvements on the Property against loss by fire, with extended coverage, in an amount not less than the unpaid balance of the debt hereby secured, or the insurable value 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. Thc insurance proceeds or any part thereof, shall at the option of the Mortgagor, be applied either to the reconstruction of improvements on the Property or to the payment of indebtedness hereby secured. In the event Mortgagor fails to pay such taxes and assessments, or fails to keep and maintain such insurance as herein provided, Mortgagor 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 thc above sums hereby secured, or in the payment of interest thereon, or any part of such principal or interest, when the same shall become due, or in the case default shall be made in any of the covenants and agreements thereof, which default is not cured within thirty (30) days after notice thereof is given by Mortgagee, or in the event that 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, at the option of Mortgagee, and Mortgagee's legal representatives and assigns, may proceed by advertisement and sale and/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. 11' tile proceeds of the foreclosure sale are insufficient to pay the indebtedness hereby secured and l'oreclosure costs, Mortgagee shall be entitled to a deficiency judgment. In the event of any default whereby the right of l'oreclosure occurs hereunder, Mortgagee shall at once be entitled to exclusive possession, use, and enjoyment of the Property, and to all rents, issues, and profits from the accruing of any such rights and during the pendency of the foreclosure proceedings, and the period of redemption, il' there be on. Mortgagor warrants title to the Property as to parties claiming by or through or under Mortgagor only. The Property is not agricultural property as defincd in Wyoming Statutes § 1-18-103. WITNESS my hand this /~r'/~'~day of Ocotber, 2(i)04. MPM DEVELOPMENT, INC., a California Corporation ATTEST: Name'(/ Title: ., who, being of MPM signed the foregoing ¢,i~ by the STATE OF ~ali~f vqa ) ) ss. COUNTY OF ~~ ) ACKNOWLEDGED before me by ~e¢~,,, ~'~. ~~ sworn and under oath, attests that ~ is the ~.:~,~ DE~LOPMENT, INC., a California Co~oration, and that ~, document for ~d on behalf of said Corporatio~ursuant to authority granted to Co~oration's Board of Directors, on this, the ~ day or' October, 2004. Commission # 1420936 NOTA~II[Y PUBLIC My Commission expires: