HomeMy WebLinkAbout910769MORTGAGE
RECEIVED 8/9/2005 at 3:56 PM
RECEIVING # 910769
BOOK: 593 PAGE: 821
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
KNOW ALL PERSONS BY THESE PRESENTS, that DEREK M. COCKSHUT
and SIMA S. COCKSHUT, husband and wife, of P.O. Box 1655, Afton, Wyoming 83110
(hereinafter, collectively, "Mortgagor"), to secure the payment of One Hundred Forty Thousand
Dollars ($140,000.00), with interest thereon, as provided in and evidenced by a Promissory Note
of even date herewith (with a maturity date of August 1, 2025), and all renewals, modifications,
and extensions thereof, does hereby mortgage unto JUDY M. IOTT, a single woman, of P.O.
Box 512, Stayton, Oregon 97383 (hereinafter "Mortgagee") the following described real
property, situate in the County of Lincoln, State of Wyoming, hereby releasing and waiving all
rights under and by virtue of the homestead exemption laws of the State of Wyoming, to wit:
Lots 1, 2, 3, 4, and 5of the Afton Mini Mall Addition to the Town of Afton,
Lincoln County, Wyoming, as described on the official plat thereof.
Together with all and singular the 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. The 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 the 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
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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 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, if 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 defined in Wyoming Statutes § 1 ~ 18-103.
WITNESS our hands this 1 st day of August, 2005.
DEREK M. COCKSHUT
SIMA S. COCKSHUT
STATE OF WYOMING )
)ss.
COUNTY OF LINCOLN )
ACKNOWLDEGDED before me
COCKSHUT this 1 st day of August, 2005.
WITNESS my hand and official seal.
by DEREK M. COCKSHUT and SIMA S.
My Commission expires:
NOTARY PUBLIC
Couavo Stat,