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6010715315
000533
JM Land Development, LLC, an I aho Limited Liability Company, of Thayne ,
Wyoming , (herein collectively calle 'MORTGAGOR"), to secure the payment of
$401,000.00 with interest thereon, as p jovided in and evidenced by a promissory note of
even date herewith (the ultimate matJrity date of which is June 10, 2015 ) and all
renewals, modification and extensions hereof, do hereby mortgage unto Bart F. Merritt
and Deanna M. Merritt, Husband and Wife, of 1701 Thayne Bedford Road, Thayne,
Wyoming 83127 (herein called "MORTGAGEE"), the following described real
property, situate in the County of Lincofn, State ofWY, hereby releasing and waiving all
rights under and by virtue of the homes ead exemption laws of the State of Wyoming, to-
wit:
Parcell
Northeast Quarter of the Northwest Quarter and GLO Lot 1 of Section 19, Township
34 North Range 118 West of the 6th P.M., Lincoln County, Wyoming.
LESS AND EXCEPT the land descri ed in Quitclaim Deed recorded October 4, 2004 in
Book 569PR on page 17 of the recor s of the Lincoln County Clerk.
AI,SO, LESS AND EXCEPT the Ian I described in Quitclaim Deed recorded October 4,
2004 in Book 569PR on page 19 of th records of the Lincoln County Clerk.
Parcel 2
A portion of the property, as referre to in the Deed recorded in Book 554, on Page 159,
within the Southwest Quarter of the Northeast Quarter of Section 25, Township 34
North, Range 119 West, of the 6th P.M., Lincoln County, Wyoming, the metes and )
bounds being more particularly desc 'ibed as follows:
BEGINNING at a Point in the North line of the Aullman property, as referred to in the ?
Deed recorded in Book 577PR, on P ge 454, with said Office, said Point of Beginning,
being 336.41 feet South 89°41'07" East, along said North line, from the Paul N.
Scherbel RLS 164, 1976 location for he Southeast Corner of the Northwest Quarter of
said Section 25;
thence Northeasterly, along a 50.00 'eet Radius Curve to the Right, through a central
angle of 27°03'16", an arc length of 23.61 feet, and a chord of North 28°03'41" East
23.39 feet;
thence North 41 °35'19" East 80.20 f et to the beginning of a 126.00 feet Radius Curve
to the L~ft;
thence Northeasterly, along said Cur e to the Left, through a central angle of 34°40'04"
an arc length of 76.24 feet and a hord of North 24°15'17" East 75.08 feet;
thence North 6°55'16" East 86.55 fee;
thence North 3051'46" East 96.18 fee;
thence North r37'48" East 136.00 fe t;
thence South 87022'12" East, perpe dicular to last line, 600.25 feet to a point in the
West line of the Soest property, s referred to in the Deed recol'f1ed in Book 322PR,
on .Page 48, with said Office;
thence South 2030'38" East, along. aid West line, 443.75 feet to a Point in the said
North line;
thence North 89°41'07" West, alo g said North line, 737.30 feet, to the Point of
Beginning.
Parcel 3
Lot 15 of the River View Ranch· ttesFirst Filing Subdivision, Lincoln County,
Wyoming as described on the official plat thereof.
MORTGAGOR agrees to pay the i~ ebtedness hereby secured; to pay all taxes,
assessments and charges levied again t the property, as the same become due and
payable; to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with
an insurance carrier or carriers accePt~le to MORTGAGEE, covering the insurance
improvements on the Property agains loss by fire and earthquakes, with extended
coverage, in an amount not less than the paid balance of the debt hereby secured, or the
insurable value (replacement cost) of such improvements, whichever is less, which
insurance shall contain an appropriate 1 ss payable provision protecting MORTGAGOR
RECEIVED 7/31/2007 at 2:03 PM
RECEIVING # 931753
BOOK: 667 PAGE: 533
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
· 000534
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 warrants title to the Property as to parties claiming, by, through or under
the MORTGAGOR only.
WOlne" oor hands thi, ~ day of July, ,2007, ~ -
l-1J1~~
&rin~
State of ¿J r~ )
)ss.
County of ~ )
The foregoing instru~ged before d this J g day of ~o (2J
by ~ Q/n ~.
Witness my hand and official seal
.A:tLoJtàV ~ 4-P~
Notary Public:
My commission expires: 9 - /5- 07
GLORIA K. BYERS. NOTARY PUBLIC
C~unty of State of
Lincoln Wyoming
My CommIssIon Expires Sept. 15, 2007