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MORTGAGE
0001.:10
TEICHERT BROTHERS, LLC, a Wyoming limited liability company, herein referred to as
Mortgagor, whose address is P,O, Box 164, Co keville, WY 83114 to secure the payment of the
principal sum of Two Hundred Thirty Thousand Dollars ($230,000.00), together with interest, as
evidenced by a promissory note of even date herewith (the "Note"), to the order of JOHN A.
TEICHERT and DOROTHY B. TEICHERT, husband and wife, whose address is P.O. Box 238,
Co keville, WY 83114, herein referred to as Mortgagees, hereby mortgages to Mortgagees, all interest
in the following described real estate, situate in the County of Lincoln, State of Wyoming, to-wit:
That part of Tracts 85 and 86 of Resurvey Township 24 North, Range 119 West of
the 6th P,M" Lincoln County, Wyoming lying East ofthe Bear River.
LESS AND EXCEPT land contained in Warranty Deed recorded March 28, 1967 in
Book 77PR on Page 456 of the Lincoln County Records.
LESS AND EXCEPT land contained in Warranty Deed recorded August 27, 1985 in
Book 230PR on Page 179 of the Lincoln County Records,
LESS AND EXCEPT the following described land:
Beginning at the Southeast comer of the SW'/4SE'/4 of Section 6, Township 24 North,
Range 119 West of the 6th P.M., of the original government survey, Lincoln County,
Wyoming and running thence West 206 feet; thence North 1205 feet; thence
Northwesterly to a point 254 feet West of the Northeast comer of said SW'/4SE'/4 of
Section 6; thence East 254 feet; thence South 1320 feet to the place of beginning.
including all buildings and improvements thereon or that may hereafter be erected thereon; together
with hereditaments and appurtenances and all other rights thereunto belonging, or in any manner now
or hereafter appertaining, and the reversion and reversions, remainder and remainders, rents, issues,
and profits thereof, and all fixture and equipment now or hereafter attached to or used in connection
with the premises.
Mortgagor hereby covenants that Mortgagor is lawfully seized of the premises, that they are
free from all encumbrances, and hereby covenants to warrant and defend the title of the premises
against the lawful claims of all persons whomsoever.
And Mortgagor covenants with Mortgagees as follows:
RECEIVED 12/12/2006 at 3:36 PM
RECEIVING # 925255
BOOK: 643 PAGE: 110
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
0925255
COO1.1.:l.
SECTION ONE
RENTS. ISSUES. AND PROFITS
I In case of default in any of the payments stipulated in the note, Mortgagor as further security
for this mortgage and the Note secured thereby, hereby assigns, sets over, and conveys to Mortgagees
al~ Mortgagor's interest in and to all rents, issues, and profits from the property.
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I The Mortgagor shall not transfer the property, nor assign, pledge or otherwise alienate any of
the rents, issues and profits from the property, nor subdivide the property, without prior written
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cC1nsent of the Mortgagees.
SECTION TWO
ASSIGNMENT/SUBDIVISION
SECTION THREE
PAYMENT OF INDEBTEDNESS
Mortgagor will pay the indebtedness as provided in the Note. Mortgagor may not prepay said
indebtedness, either in whole or in part, without prior written consent of the Mortgagees.
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SECTION FOUR
GROUND RENTS: TAXES AND ASSESSl\1ENTS
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! Mortgagor will pay all ground rents, taxes, assessments, water rents, and other governmental
o~ municipal charges, or other lawful charges, and will promptly deliver the official receipts therefor
101Mortgagees upon request. In default thereof, Mortgagees may pay the same.
SECTION FIVE
NUUNTENANCE OF PROPERTY
i Nothing shall be done on or in connection with the property that may impair Mortgagees'
sepurity hereunder; Mortgagor will commit, permit or suffer no waste, impairment or deterioration of
th~ property or any part thereof, and the property shall be continuously maintained in good and
sightly order, repair and condition by Mortgagor at Mortgagor's expense.
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I Mortgagor will keep the improvements now existing or hereinafter erected on the premises,
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insured for fire and extended coverage in such amount at least equal to the outstanding balance of the
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note. All insurance shall be carried in reputable companies, and the policies and renewals thereofshall
have attached thereto loss payable clauses in favor of and in form acceptable to Mortgagees. In the
SECTION SIX
HAZARD INSURANCE
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0925255
event of loss, Mortgagor will give immediate notice by mail to Mortgagees, who may make proof of
loss if not made promptly by Mortgagor, and each insurance company concerned is hereby authorized
and directed to make payment for such loss to Mortgagor and Mortgagees jointly; the insurance
proceeds or any part thereof may be applied by Mortgagees at Mortgagees' option either to the
reduction of the indebtedness hereby secured or to the restoration or repair ofthe property damage.
In event offoreclosure of this mortgage or other transfer of title to the premises in extinguishment of
the indebtedness secured hereby, all right, title and interest of Mortgagor in and to any insurance
policies then in force shall pass to the purchaser or grantee.
0001.12
SECTION SEVEN
CHARGES: LIENS
In case Mortgagor defaults in the payment of ground rents, if any, taxes, assessments, water
or other governmental or municipal charges, or other lawful charges as herein provided, Mortgagees
may without notice or demand pay the same and in case of any failure on the part of Mortgagor to
comply with the covenants of Section Five hereof, Mortgagees may effect such repairs as they may
reasonably deem necessary to protect the property, at the expense of Mortgagor, Mortgagor shall
repay such sums to paid and all expenses so incurred by Mortgagees, with interest thereon from the
date of payment, at ten percent (10%) per annum, and the same shall be a lien on the premises and be
secured by the Note and by these presents; in default of making such repayments the whole amount
hereby secured if not then due shall, if Mortgagees so elect, become due and payable forthwith,
anything therein contained to the contrary notwithstanding,
SECTION EIGHT
ACCELERATION
In case default is made in the payment, when due and for thirty (30) days thereafter, of the
indebtedness hereby secured, or of any installment thereof or any part thereof, or in case of breach of
any covenant or agreement contained in the purchase agreement, note or this Mortgage, and such
default or breach is not cured within thirty (30) days after written notice and demand, the whole of
the then indebtedness secured hereby, inclusive of principal, interest, arrearage, ground rents, if any,
taxes, assessments, water charges, expenditures for repairs or maintenance, together with all other
sums payable pursuant to the provisions thereof, shall become immediately due and payable, at the
option of Mortgagees, although the period above limited for the payment thereof may not have
expired, anything herein before or in the note contained to the contrary notwithstanding; any failure to
exercise such option shall not constitute a waiver of the right to exercise the same at any other time;
and it shall be lawful for Mortgagees to proceed to enforce the provisions of this mortgage either by
suit at law or in equity, as Mortgagees may elect, or to foreclose this mortgage by advertisement and
sale of the premises, at public auction for cash, according to Wyoming Statutes governing mortgage
foreclosures, and cause to be executed and delivered to the purchaser or purchasers at any such sale
and good and sufficient deed or deeds of conveyance of the property so sold, and to apply the net
proceeds arising from such sale ftrst to the payment of the costs and expenses of such foreclosure and
sale and in payment of all monies expended or advanced by Mortgagees pursuant to the provisions of
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0925255
Section Seven hereof, and then to the payment of the balance due on account of the principal
indebtedness secure hereby, together with interest thereon, and the surplus if any, shall be paid by
Mortgagees on demand to Mortgagor. There shall be included in any or all such proceedings a
reasonable attorney's fee, In case Mortgagees fail promptly to foreclose on the happening of any
default, Mortgagees shall not thereby be prejudiced in Mortgagees' right to foreclosure at any time
thereafter during which such default continues, and shall not be prejudiced in Mortgagees' foreclosure
rights in case of further default.
000113
SECTION NINE
MORTGAGEES'S RIGHT OF POSSESSION
In case of any default whereby the right offoreclosure occurs hereunder, Mortgagees shall at
once become entitled to exclusive possession, use and enjoyment of all property, and to all rents,
issues and profits thereof, from the accruing of such right and during the pendency of foreclosure
proceedings and the period of redemption, if there is any; and such possession, rents, issues and
profits shall at once be delivered to Mortgagees on request, and on refusal, the delivery of such
possession, rents, issues and profits may be enforced by Mortgagees by any appropriate civil suit or
proceeding, including action or actions in ejectment or forcible entry, or unlawful detainer; and
Mortgagees shall be entitled to a receiver for the property and the rents, issues and profits thereof,
after any such default, including the time covered by foreclosure proceedings and the period of
redemption, if there is any, and shall be entitled thereto as a matter of right without regard to the
solvency or insolvency of Mortgagor or the then owner of the property, and without regard to the
value of the property or the sufficiency thereof to discharge the mortgage debt and foreclosure costs,
fees and expenses; and such receiver may be appointed by any court of competent jurisdiction on ex
parte application and without notice (notice being hereby expressly waived, and the appointment of
any such receiver of any such application without notice being hereby consented to by Mortgagor on
Mortgagor's own behalf), and all rents, issues, profits, income and revenue of the property shall be
applied by such receiver, according to law and the orders and directions of the court.
SECTION TEN
BINDING EFFECT
The covenants herein contained shall bind, and the benefits and advantages shall inure to, the
respective heirs, executors, administrators, successors and assigns of the parties hereto. Whenever
used, the singular number shall include the plural, the plural the singular, and the use of any gender
shall include all genders.
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e0011:~1
092525S
~ WITNESS WHEREOF, Mortgagor duly executed this Mortgage on thiS~~y of
~, 2006.
TEICHERT BROTHERS, LLC, a
Wyoming limited liability company
By_ ~.u.~ '1r¡_'-j~1.:J
TIMOTffi:( EICHERT
Manager
,
. ...-,,~._....-.~::;"~ /
By. //,:;e. . v.(.'_/ ~
MATTHliW'l TÉICHERT
Manager
THE STATE OF WYOMING)
) ss.
COUNTY OF LINCOLN )
The forgoing instrument was subscribed and sworn to before me by TIMOTHY M.
TEICHERT and MATTHEW 1. TEICHE~T,~s Managers Of~ROTHERS, LLC, a
Wyoming limited liability company, this ú?C-dayof /" 2006.
SHEU.EY INØU. . NOrMY I'UØUC
CIIIfty.. &\ ....
......w.-.
My commission expires:
Ò ~~<>
NotaryPublic cJ~ ~
Witness my hand and official seal.
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