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000402
MORTGAGE DEED
EXECUTED this &.> day of November, 2006, by PEAVLER'S
MOUNTAIN STAR, INC., a Wyoming Corporation of Afton, Wyoming, hereinafter
called the MORTGAGOR(S), to GARDNER RANCH, INC., a Wyoming
Corporation, hereinafter called the MORTGAGEE: (Whenever used herein, the term
"MORTGAGOR" and "MORTGAGEE" include all the Parties to this instrument and
their heirs, legal representatives, and assigns of individuals, and the successors and
assigns of corporation; and the term "NOTE" includes all the notes herein described if
more than one.)
WITNE S SE T H:
THAT FOR GOOD and valuable considerations, and also in consideration of
the aggregate sum named in the Promissory note of even date herewith, hereinafter
described, the MORTGAGOR hereby grants, bargains, sells, aliens, remises, conveys,
and confirms unto the MORTGAGEE, all the certain land of which the
MORTGAGOR is now seized and in possession, situated in Lincoln County and state
of Wyoming, more particularly described as follows, to-wit:
Exhibit "A" attached and made a part hereof.
TO HA VE AND TO HOLD the same together with the tenements,
hereditaments, and appurtenances thereto belonging, and the rents, issues, and profits
thereof, unto the MORTGAGEE in fee simple.
And, the MORTGAGOR covenants with the MORTGAGEE that the
MORTGAGOR is indefeasibly seized of said land in fee simple; that the
MORTGAGOR has good right and lawful authority to convey said land as aforesaid;
that the MORTGAGOR will make such further assurances to perfect the fee simple
title to said land and the MORTGAGEE as may reasonable be required; that the
MORTGAGOR hereby warrants the title to said land and will defend the same against
the lawful claims for all persons whosoever; and that the said land is free and clear of
all encumbrances.
PROVIDED, AL WAYS, that if said MORTGAGOR shall pay unto said
MORTGAGEE, the certain Promissory Note, dated November~D , 2006, in the
amount of THREE HUNDRED FORTY-SEVEN THOUSAND FIVE HUNDRED
($347,500~ DOLLARS and NO/tOO, with SEVEN (7%) PERCENT interest, as
required by said Promissory Note. See Schedule "A". The undersigned shall
perform, comply with, and abide by each and every agreement, stipulation, condition,
and covenant thereof, and of this Mortgage, then this mortgage and the estate hereby
created shall cease, determine and be null and void.
RECEIVED 12/7/2006 at 11 :12 AM
RECEIVING # 925103
BOOK: 642 PAGE: 402
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
MORTGAGE DEED
Gardner Ranch, Inc. / Peavler's Mountain Star, Inc.
Page 1 of3
O~~~: ~,i :]J}.l ASSUMABLE and TRANSFERABLE MORTGAGE. Each Party to thiP00403
mortgage shall be bound individually, severably, and by capacity of representation by
the terms therein.
If all or any part of the property or any interest in it is sold or transferred
without the MORTGAGEE'S prior written consent, the MORTGAGEE may at their
option, require immediate payment in full of all sums remaining owed under this
Promissory Note and/or mortgage, The MORTGAGEE shall give the
MORTGAGOR notice of acceleration.
AND THE MORTGAGOR hereby further covenants and agrees to pay
promptly, when due, the principal and interest and other sums of money provided for
in said note and this mortgage, or either; to pay all and singular the taxes,
assessments, levies, liabilities, obligations, and encumbrances of every nature on said
property; to permit, commit, or suffer no waste, impairment, or deterioration of said
and/or the improvements thereon at any time; to pay all costs, charges and expenses
including reasonable attorney's fees and title searches, reasonably incurred or paid by
the MORTGAGEE because of the failure of the MORTGAGOR to promptly and fully
comply with, and abide by each and every agreement, stipulation, condition, and
covenants set forth in said Note and this mortgage, or either.
In the event the MORTGAGOR fails to pay, when due, the tax assessment,
property insurance, or other sum of money payable by virtue of said Note and this
Mortgage, or either, the MORTGAGEE may pay the same without waiving or
affecting the option to foreclose or any other right hereunder, and all such payments
shall bear interest from date thereof at the highest lawful rate allowed by law.
IF ANY SUM of money herein referred to be not promptly paid after the same
becomes due, or if each and every of the agreements, stipulations, conditions, and
covenants of said Note and this Mortgage, or either, are not fully performed, complied
with, and abided by, then the entire sum mentioned in said Note and this mortgage, or
either, are not fully performed, complied with, and abided by, then the entire sum
mentioned in said Note, and this Mortgage, or the entire balance unpaid thereon, shall
forthwith and thereafter, at the option of the MORTGAGEE, become and be due and
payable, anything in said Note or herewith to the contrary notwithstanding; and
MORTGAGOR hereby grants to MORTGAGEE, their heirs, and assigns, a Power of
Sale over the property described above which may be exercised by MORTGAGEE or
their heirs and assigns in case of such default as described above, and pursuant to
such Power of Sale, MORTGAGEE, their heirs and assigns may foreclose on said
property and sell and dispose of or cause to be sold or disposed of, the above property
and all rights, title, benefit, and equity of redemption of the MORTGAGOR, their
heirs or assigns, therein, at public auction, for cash according to Title 34, Chapter 4,
Wyoming Statutes as the same presently exists or may hereafter be amended.
MORTGAGE DEED
Gardner Ranch, Inc. / Peavler Mountain Star, Inc.
Page 20/3
000404
U~;:; ~.i, 'jL t~ ·'.1· IN WITNESS WHEREOF, the MORTGAGOR has set their hand and seal
the day and year ftrst above written, hereby releasing and waiving all rights under and
by virtue of the homestead exemption laws of the State of Wyoming.
DATED this ~ day of November, 2006.
ATTEST:
PEAVLER'S MOUNTAIN STAR, INC.
~¿
SECRET~Y ~ ---------
Peavler's Mountain Star, Inc.
BY:áf¡?4
PRESIDEN '
Peavler's Mountain Star, Inc,
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
/I On tbisjf}. day of November, 2006, before me personally appeared
~L.fJý ~ r L e-R who being by me duly sworn, did say that he
is the president of the Peavler's Mountain Star, Inc., and that the seal affixed is a said
instrument of the Corporation. The said instrument was signed and sealed on behalf
of the said Corporation by authority of the Board of Directors, and the said individual
acknowledges the said instrument to be Si"d as the free act and deed of the
Corporation. The corporation secretary, I è·K f>SA II L Iii!.. , attested
and confirmed the action of said President and as an official act of the corporation
WITNESS my hand and notarial seal this 0D day of November, 2006,
!SHAAoÑ NIMMO I'W"IE.S. Notary Public
County of State of
Lincoln Wvnmlng
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I My Commission Expires 0"'1 ìJ I if I I
VI~LvJ~
NOTARY PUBLIC _I
My Commission Expire~d ~ ~7
MORTGAGE DEED
Gardner Ranch, Inc. / Peavler's Mountain Star, Inc.
Page 3 of3
Professional land Surveyors
Paul N. Scherbal
Wyo. Røglatrallon No. 164
Ulah Røglaltalion No. 1670
Idaho Registralion No, 3990
Nevada Registrallon No. 6805
Scan A. Scherbal
. Wyo. Registration No, 3889
Idaho Aeglslratlon No. 8026
Utah ReglslraUon No. 372111
MARLOWE A. SCHERBEL
Wyo. Registration No. 5368
Surveyor Scherbal, LTD.
Anon, Wyoming
Big Piney, Wyoming
Jackson, Wyoming
Lava Hot Springs, Idaho
Montpelier. Idaho
DESCRIPTION FOR
O.D. GARDNER
TRACT 1
To-wit: - -
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000405
That part of the SEl/4 of Section 13, T32N R119W, Lincoln County, Wyoming, being part
of that tract of record in the' Office of the Clerk of Lincoln County in Book 359 of
Photostatic Records on page 303, described as follows:
BEGINNING at the northeast comer of the NWY-.SEY-. of said Section 13;
thence N89°-05'-57"E, 24.33 feet, along the north line ofthe NEY-.SEY-. of said Section 13,
to a point at a fence comer;
thence coursing an existing fence line as follows:
SOOO-14'-30"E, 999.45 feet, to a point;
SOOO-09'-55"E, 324.41 feet, to a point on the south line of said NEY4SEY4;
thence S89°-05' -41 "W, 36.92 feet, along said south line, to the southwest comer thereof;
thence S89°-05' -02"W, 1151.48 feet, along the south line of said NWY4SEY-., to a point;
thence NOoo-49'-19"E, 1324.68 feet, to the southern most southwest point of Lot 6 of
Cynova Acres Subdivision of record in said Office as Plat No. 101-F;
thence N89°-05' -57"E, 1139.91 feet, along the south line of said Subdivision identical with
the north line of said NWY-.SEY-., to the CORNER OF BEGINNING;
ENCOMPASSING an area of35.75 acres, more or less;
the BASE BEARING for this survey is the east line of the NEY-. of Section 24, T32N
R119W, being NOoo-17'-00"W, BLM 1981;
TOGETHER with a right of ingress, egress and utilities over, under and across a tract of
land described as follows:
t.\...·
BEGINNING at the southeast comer of sai4 NWY4SEY4 on the south line of t,he
above described Tract 1;
thence N89°-05'-41"E, 36.92 feet, along the north line of said NEY4SEY4, to.a point
at a fence comer;
thence coursing an existing fence line as follows:
'"
SOoo-11 '-40"E, 813.31 feet, to a point at a fence comer;
S86°-34'-08"E, 87.00 feet, to a point on a fence comer;
SOoo-29'-07"E, 474.28 feet, to a point on the north right-of-way line of
Kennington-Burton Lane County Road No. 12-136, and leave said fence line;
thence continuing SOoo-29'-OT'E, 30.00 feet, to a spike on the south line of the
SE Y-.SE Y-. of Section 13;
thence S89°-05'-00"W, 60.00 feet, along said south line, to a spike;
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"Modification in any way of the foreooino ciA~~rintinn tArmin::ltA<:: Ii~hilih, nf thø C:lln/ø\lnr"
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DESCRIPTION FOR
O.D. GARDNER
TRACT 1
PAGE TWO
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000406
thence NOoo-29'-07"W, 376.15 feet, to a point;
thence N3 7°-40' -36"W, 77.15 feet, to a point at a fence comer;
thence continuing N37°-40' -36"W, 66.61 feet, to a point;
thence NOOO-ll ' -40"W, 832.87 feet, to a point on the south line of said NWY4SEY4;
thence N89°-05'-02"E, 23.08 feet, along said south line to the CORNER OF
BEGINNING;
it is the intent of this description that the called-for monuments, and not the existing fence
lines, control the location of the property lines;
each "comer" found as described in the Comer Record filed or to be filed in the Office of
the Clerk of Lincoln CoUnty;
each "point" marked by a 5/8" x 24" steel reinforcing rod with a 2" aluminum cap
inscribed, "SURVEYOR SCHERBEL L TD AFTON WY PLS 5368", with appropriate
details;
each "spike" marked by a 3/8" x 12" steel spike referenced by a 5/8" x 24" steel
reinforcing rod with 2" aluminum cap inscribed, "SURVEYOR SCHERBEL L TD AFTON
WY PLS 5368", with appropriate details;
.....
Exhibit
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PROMISSORY NOTE
000407
$347,50000
November....:t) ,2006
Afton, Wyoming
THE UNDERSIGNED, jointly and serverably, if more than one, promise to pay
GARDNER RANCH, INC., a Wyoming Corporation, of Afton, Wyoming, the principal sum of
THREE HUNDRED FORTY-SEVEN THOUSAND FIVE HUNDRED ($347,5000°) DOLLARS
and NO/100, with interest of SEVEN (7%) PERCENT from January 2, 2007. The note shall be
payable to Gardner Ranch, Inc., as follows:.
PAYMENT shall be due in the followi g manner:
I. Payment ofNINTEY THOUSAND ($90,000) DOLLARS and NOll 00,
due on or before December 20, 200 .
2, A payment in the amount ofTEN OUSAND ($10,000) DOLLARS and
NOl100 plus the interest at SEVEN (7%) PERCENT shall be due on or before
September 2, 2007, and on or befor December 20, 2007, plus the interest at SEVEN
(7%) PERCENT. Interest shall co mence on January 2, 2007. Each payment shall
be due on or before September 2 an December 20, each and every year thereafter,
until the note is paid in full.
3. Payments shall be made a location esignated by Gardner Ranch, Inc., at P. O.
Box 96, Afton, WY 83110, unless therwise designated by the note holder,
4. A late charge of SEVEN (7%) PER ENT of the payment shall be assessed for each
ten (10) days payment is late.
5. There is a prepayment penalty for e tra prepayment principle payments of SEVEN
(7%) PERCENT payable to Seller fi r a period of FOUR (4) YEARS,
IN THE EVENT OF DEF AUL T of any p yment after it becomes due and payable, the
entire principal sum and interest shall, at the op ion of the holder, become immediately due and
payable, without notice. Failure to exercise thi option shall not constitute a waiver of right to
exercise the same in the event of any subseque t default. In the event of default, the
undersigned, jointly and severably, if more th one, agree to pay all costs of collection,
including a reasonable attorney fee to the holde's attorney, whether suit be brought or not. The
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undersigned, jointly and severably, if more than one, waive all privilege of venue and agree that
in the event of suit on this Note the holder, shal select the proper venue for such suit.
PROMISSORY NOTE
Gardller Raile/I, ¡IIc.1 Peavler's Moultta;II Star, f¡,c.
Page I of2
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PRESENTMENT, protest, notice of protest, and notice of dishonor are hereby waived.
00040B
DATED this ..3D day of November, 2006.
AITEST:
PEAVLER'S MOUNTAIN STAR, INC.
sA- If/tK f1AV'L££.
SECRETARY
Peavler's Mountain Star, Inc.
ø (Ù.I/~ Pc!1¡1{..e~
PRESIDENT
Peavler's Mountain Star, Ine,
STATE OF WYOMING )
) SSe
COUNTY OF LINCOLN ) .
On this _ day of November, 2006, before me personally appeared
who being by me duly sworn, did say that he is the
president of the Peavler's Mountain Star, Inc., and that the seal affixed is a said instrument of the
Corporation. The said instrument was signed and seal~d on behalf of the said Corporation by
authority of the Board of Directors, and the said individual acknowledges the said instrument to
be signed as the free act and deed of the Corporation. The corporation secretary,
, attested and confirmed the action of said President and as an
official act of the corporation
WITNESS my hand and notarial seal this ___ day of November, 2006.
NOTARY PUBLIC
My Commission.Expires:
".
PROMISSORY NOTE
Gardner Ranch, Inc. / Peavler's Mountain Star, Inc.
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