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RECEIV' NG #.. 916596
BOOK: 614 PAGE: 176
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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MORTGAGE
MKM, HOLDINGS, LLC, a Wyoming Close Limited Liability Company,
Mortgagor, to secure the payment of Six Hundred Thousand Dollars ($600,000.00) due.
with interest thereon at the rate of six and one-half percent (6.5%) per year, for the first
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seventy-two months of the term of the promissory note, dated hb c?ó -, 2006, and
at the rate of seven percent (7%) per year, or one percent (1 %) over the Wall Street
Journal published prime rate, whichever is greater, for the term of the fOllowing one
hundred eighty months, (said sum and the interest thereon, being referred to as the
indebtedness), payable in accordance with the provisions of that certain promissory note,
dated~J. at ,2006, hereby mortgage and warrant to SALT RNER MOTOR, INC.,
a Wyoming Close Corporation, and its successors or assigns, Mortgagee, of Lincoln
County, Wyoming to-wit:
Business and Real Property located at 295 North Washington St.
Afton, Lincoln County, Wyoming
SEE ATTACHED DESCRIPTIONS marked as "EXHIBIT 'A' BUSINESS".
If default occurs in the payment of the indebtedness or in the payment orany
installment thereof, or if default òccurs in any of the covenants and agreements hereof,
A
and Mortgagor fails to remedy such default within 10 days of receipt of written notice
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from Mortgagee, then the whole indebtedness shall, at mortgagee's option, become due
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and payable forthwith, and mortgagee may foreclose this mortgage either by
advertisement and sale of the premises as provided by statute, or by an action in equity.
Out of the proceeds of any foreclosure sale, mortgagee shall retain or receive all sums
due to it hereunder, and costs of foreclosure and sale including reasonable attorney fees,
the same to be taxed as costs in any equitable action brought to foreclose this mortgage.
To fully assure mortgagee the benefit of the security interests in the premises
granted to it hereunder, mortgagors hereby assign to mortgagee all rents hereafte~ payable
for the use and occupancy of the premises by any person in possession thereof with
mortgagors' consent. If default occurs in any of the covenants and agreements herein
contained, whether or not mortgagee elects to foreclose this mortgage on acc.ount thereof,
Mortgage
MKM HOLDINGS, LLC
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176
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0916596
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mortgagee shall at once be entitled, and is hereby authorized, to collect the rents from the
premises and to apply the same to the payment of the indebtedness secured hereby until
such default is remedied.
In the event of foreclosure of this mortgage upon default, mortgagee shall be
entitled to the possession and enjoyment of the premises and the incident rents, issues,
and profits thereof from the time of such default and for and during the pendency of
foreclosure proceedings and the period of redemption, if any. If mortgagors should fail to
surrender such possession to mortgagee promptly upon its request therefore, mortgagee .
may compel delivery thereof by an ejectment action or other civil proceeding appropriate
to that purpose.
Furthermore and in addition to the remedies otherwise provided for in this
mortgage and by law, and as a matter of right, without regard to the solvency or
insolvency of mortgagors, the value of the premises, or the sufficiency thereof to
discharge the indebtedness and costs of foreclosure and sale, mortgagee shall be entitled
to a receiver for the premises and the rents, issues and profits thereof from the time of
default to the expiration of any redemptive period provided by law. Such receiver may
be appointed by any court of competent jurisdiction upon ex parte application, without
notice, notice being hereby waived and the appointment of a receiver upon such
application being hereby consented to by mortgagors.
This Mortgage shall be subordinate only to the Mortgagors first priority mortgage
to First National Bank recorded at Book #~ Page # ) 16 in the records of
the Lincoln County Clerk and Recorder.
WITNESS our hands this
:2<6
day of
MICHAEL LLOYD MCDONALD
~~1YJ~4
W E MCDONALD
Mortgage
MKM HOLDINGS, LLC
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0316596
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By:
STATE OF WYOMING
)
) SS.
COUNTY OF LINCOLN )
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rPbThe foregoing instrument was acknowledged before me this cii day
of rut} r( ,2006, by MICHAEL LLOYD MCDONALD AND MARY
KA YLENE MCDONALD, Husband and Wife. . . · f _
rJhj.{ , {AAJld1
NOTARY PUBLIC
My Commission Expires: 0'- 5...Ò7
H8DI BROWN - NOTARY PUBUC
) County of . State of
) S S. Uncaln WyomIng
COUNTY OF LINCOLN ) My CommissIon Expires August 5. 2009
The foregoing instrument was acknowledged before me this L day of
r ý ,2006, by MICHAEL LLOYD MCDONALD and MARY KA YLENE
MCDONA D, for MKM HOLDINGS,LLC.
STATE OF WYOMING
My Commission Expires:
1r)-tY/
diu¡.
NOTARY PUBLIC
4w-
~
H8D/BROWN - NOTARY PUBUo
County of . State of
Uncaln ~ng
My CommissIon expIres August 5, 2009
Mortgage
MKM HOLDINGS, LLC
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09:l6596
C001'79
Exhibit "A" Business
EXHIBIT 2. L 1
That part of the SWlI4SW1l4 of Section 19. T32N. R1l8W, Lincoln County. Wyoming,
within the North Mton Annexation to the Town of Afton, Wyoming, being a part of that
tract of record in the Office of the Clerk of Lincoln County· in Book 328 of Photostatic
Records on page 336, as follows: COMMENCING at the intersection of the south line of
said SW1I4SWlI4: with the east right-of-way line of U.S. Highway 89. S89° 25'S4"B,
50.54 feet from the southwest comer of said SWl/4SWl/4, found as described in the
Comer Record filed in said Office; thence NOOo 12'OS'''W, 330.00 feet, along said east
right-of-way line, the BATHEY OF BEGINNING identical with the southwe$t bathey of
said Ifact, thence S89° 2S'S4"E, 299.07 feet, parallel with said south line, to a bathey at
the southeast comer of said tract; thence NOO° 14'36"W, 142,45 feet. along said east line,
to a point; thence N89° 31 '96'W; 298.96 feet. to a point on said east right-of-way line:
thence SODa 12'05" E, 142.00 feet, along said east right-of-way line, to the BATHEY OF
BEGINNING, .
the BASE BEARING for this survey is the west line of the SW1I4 of Section 19, T32N.
R 118W, being Nooa 12' 00" W; each "intersection: and "point" marked by a 5/8 x 24"
steel reinforcing rod with a 2' aluminum cap inscribed SURVEYOR SCHERBBL, LTD
BIG PINEY WY PLS 5368; or "SURVEYOR SCHERBEL LTD AFT ON WY PLS
5368" and appropriate details; each "bathey" marked by a steel T -shaped stake 24" long
with a metal cap inscribed PAUL N. SCHERBEL RLS 164 SURVEY POINT" all in
accordance with the pl.at prepared to be fued in the Office of the Clerk of Lincoln County
titled 'SCOTT L. CARLISLE AND CHERIE LYNN CARLISLE PLAT -OF TRACTS IN
THE NORTH AFTON ANNEXATION TO THE TOWN OF AFI'ON WITHIN THE
SWl/4SW1I4 SECI'ION 19 T32N R118W UNCOLN COUNTY, WYOMING dated 4
April 1997. .
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This is a 2nd Real Estate Mortgage recording concurrently with a 1st Real
Estate Mortgage in favor of First Natiónal Bank-West dated 2/27/2006 in the
original loan amount of $326.870.00.
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