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MORTGAGE
Kevin Paul and Eko Paul, Husband and Wife, of Smoot, Wyoming, (herein
collectively called 'MORTGAGOR"), to secure the payment of $24,000.00 , with interest
thereon, as provided in and evidenced by a promissory note of even date herewith (the
ultimate maturity date of which is June 15,2011 ) and all renewals, modification and
extensions thereM, do hereby mortgage unto Jim W. Stoker of Thayne, Wyoming,
\ (herein called "MORTGAGEE"), the following described real property, situate in the
\ County of Lincoln, State ofWY, hereby releasing and waiving all rights under and by
, virtue of the homestead exemption laws of the State of Wyoming, to-wit:
,
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See attached Exhibit A for Description.
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'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 insurance
improvements on the Property against loss by fire and earthquakes, with éxtendèd
coverage, in an amount not less than the unpaid balance of the debt hereby secured, or the
insurable value (replacement cost) 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. In the
event MORTGAGOR fails to pay such taxes or assessments, or fails to 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 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 the interest thereon, or any part of such principal or interest, when the same
shall become due; or in case 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 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/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 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 become 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
any there be.
MORTGAGOR wa~ants title to the Property as to parties claiming, by, through or under
the MORTGAGOR only.
J~~SI/'9~daYOfJune,2006'&--a ~
Kevin M.paul.~ Eko Paul
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State of Wyoming
VALERIE PETERSON - NOTARY PUBLIC
County of State of
Lincoln Wyoming
My Commission Expires March 24, 2010
County of Lincoln
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)ss
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ed before me by Kevin M. Paul and Eko Paul this d.. day of
Notary Public: I j.
My commission expires: 3 ;;; V ¡2-D 1 0
RECEIVED 6/30/2006 at 3:53 PM
RECEIVING # 919856
BOOK: 625 PAGE: 296
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMME~:~_,--~~___
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091.9856
C00297
Description: Paul 605-38 Adjusted
The Paul property, as referred to in the Deed recorded in
Book 605PR, on Page 38, and a portion of Tract 2 of the Jim
Stoker property, as referred to in the Deed recorded in
Book 541PR, on Page 581; all with the Office of the Clerk
of Lincoln County, Wyoming, within the NEl/4 of Section 23,
T34N, Rl19W, of the 6th P.M., Town of Thayne, Lincoln
County, Wyoming, the metes and bounds being more
particularly described as follows:
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BEGINNING at a Point in the West line of the NW1/4 of
Section 24, T34N, R119W, said Point of Beginning1,~08.87
feet N01°08'17"E, along said West line, from the Lloyd B.
Baker PE/LS 698, 1995 location for the Southeast Corner of
said NE1/4¡
thence N88°36'00"W, to and along the North line of the
Lincoln County School District No. 2 property, as referred
to in the Deed recorded in Book 380PR, on Page 227, with
said Office, 1,102.50 feet to the Southeast corner of the
Dana property, as referred to in the Deed recorded in Book
422PR, ad Page 196/ with said Office¡
thence N1°21'40"E, along an East line of said Dana
property, 203.21 feet to a Southwest corner of the Burnett
property, as referred to in the Deed recorded in Book
564PR, on Page 482, with said Office¡
thence S88°27'54"E, along the South line of said Burnett
property, and the South line of the Erickson property, as
referred to in the Deed recorded in Book 281PR, on Page
353, with said Office 1,101.72 feet to a Point in said West
line;
thence SOlo08117"W, along said West line, 200.62 feet, to
the Point of Beginning, containing 5.11± Acres of land.
TOGETHER WITH and SUBJECT TO: The 60 feet wide Right-of-Way
Easement for Ingress Egress, and Utilities, as referred to
in the Right-of-Way Easement recorded in Book 505PR, on
Page 35, with said Office.
TOGETHER WITH and SUBJECT TO: All Easements, Exceptions,
Reservations, Restrictions, Rights-of-Way and Improvements
of sight and or record.
EXCEPTING THEREFROM the land contianed in Warranty Deed recorded November
16, 2005 in Book 605PR on page 38 of the records of the Lincoln County Clerk.