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C00634
MORTGAGE
James H. Olenslager .and Jennie A. Olenslager, Husband and Wife, as to .an
undivided one-half interest .and Brian H. Olenslager .and Jullie A. Olenslager,
Húsband and Wife, as to.an undivided one-half interest of 778 Muddy String Road,
Thayne, WY 83127, (herein collectively called 'MORTGAGOR"), to .secure the
payment of $160,000.00, with interest thereon, .as provided in .and evidenced by a
promissory note of even date .herewith (the ultimate maturity date of which is April 1,
2026).and ID1 renewals, modification.and extensions thereof: do hereby mortgage unto
Delbert LaMar Cheney of 1 032 Perkins Co. Rd. 119 Thayne, VolY 83127 (herein .called
"MORTGAGEE"), the following de.scribed real property, .situate in the County of
Lincoln, State of \VY, hereby releasing .and waiving all rights under .and by virtue of the
homestead exemption law.s of the State of Wyoming, to-wit:
BEGThWNG 1966 feet North of the Southeast Corner of Section 12, Township 34
North, Range 119 West ofthe 6th P.M., and rnnniugthence North 335.0 feet;
theuce West 283 feet;
thence South 577.0 feet;
theuce East 103.0 feet;
thence North 242 feet;
thence .East 180 feet to point of beginning.
MORTGAGOR agrees to pay the indebtedness .hereby .secured; to pay .a1ltaxes,
.assessments .and charges levied against the property, .as the .same become due .and
payable; to .secure, maintain.and :furnish MORTGAGEE evidence thereof: insur.ance with
.an insurance carrier or carrier.s .acceptable 10 MORTGAGEE, covering the .insurance
improvements on the~mperty agaln!å loss by:fire.and earthqwùœs, with extended
coverage, in an amount not less than the unpaid balm1ce of the debt hereby.secured, or the
insurable VIDue (replacement cost) of .such improvements, whichever is less, w.hich
.insurance .shall· contain.an appropriate loss payable provision protecting MORTGAGOR
and MORTGAGEE .as their respective interests may appear from time 10 time. In the
event MORTGAGOR fails 10 pay .such taxes or .assessments, or:fails 10 keep and
maintain.such insurance.as.herein provided, MORTGAGEE may pay .such taxes .and
.assessments 'and may .secure and pay for .such insurance, and all.sums .so paid .shall be
.added 10 and considered a part of the indebtedness hereby .secured and .shall draw interest
at the .same rate.
In c.ase default .shall be made in the payment of the above .sums hereby.secured, or in the
payment of the interest thereon, or any part of .such principal or .interest, when the.same
.shall become due; or.in c.ase of default.shall be made in any of the covenants .and
.agreements thereof: or .in the event MORTGAGOR .sells or conveys the Property, or any
part thereof, or any.interest therein, without the prior written consent of the
MORTGAGEE fust bad and obtained, then the whole .indebtedness 11ei-eby.secured, with
.interest thereon, .shall become due and payable, .at the option of MORTGAGEE, .and
MORTGAGEE'S legalrepresentatives.and.assigns,mayproceed byadvertisement.and
.sale/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. If the proceeds of the
foreclosure .sale are insufficient 10 pay the .indebtedness hereby .secured .and foreclosure
costs, MORTGAGEE.shall be entitled to a deficiency judgment.
In the event of any default w.hereby the right of foreclo.sure occur.s .hereunder,
MORTGAGEE.sha11.at once become entitled to :exclusive po.ssession, use and ~oyment
of the Pmperty, and 10 all rents, issues .and profits from the .accruing of .any.such rights
.and during the pendency of the foreclo.sure proceedings, .and the period of r:edemption,li
,any there be.
MORTGAGOR WßIIants title to the Property .as 10 parties clHlmln £, by, wough or 1U1der
the MORTGAGOR only.
,2006
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RECEIVED 3/30/2006 lit 11 :31 AM
RECEIVING# 917117
BOOK: 615 PAGE: 634
JEANNE WAGNER
LINCOLN couNT'&W1;1;¡¡¡millmk. KEMMERER, WY
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Stare of Wyoming
County of Lincoln
SW0D110,.subscribedJmdJiCknowledgedbefore.me1his 27th 1layof March 2006
by JamesH. Olenslager, JennieÁ. Olenslager.BrianH. Olenslager JUldJDllieA. Olenslager
who is personally known 10.me or who.has produced
drivers licenses liS iilf'!T1tifir.ation.
.ÆZ~ IV. 4y-e/?A:1/
Notary Public:
My commission expires: 9-l5- 07
GLORIA K. BYERS - NOTARY PUBUC
County Df . State of
Uncoln Wyoming
My Commission Expires Sepl15,20D7