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MORTGAGE
COû707
KNOW ALL MEN BY THESE PRESENTS, that David Scott Bender, a single man, herein
referred to as mortgagor, of PO Box 1695, Afton, WY 83110, to secure the payment of the principal
sum of $300,000.00, with interest as evidenced by a Promissory Note dated of even date herewith
to the order of David C. Dunn and Carrie Dunn, husband and wife, as tenants by the entireties, of
PO Box 1737, Afton, WY 83110, herein referred to as mortgagee, principal and interest payable
together with interest on the unpaid principal balance at the rate of six per cent (6%) per annum
from August 15, 2008, until paid, as follows:
In equal monthly amortized installments of principal and interest in the amount of
$1,798.65 payable on the 15th day of each month beginning September 15, 2008,
and continuing on the 15th day of each succeeding month until August 15, 2038,
when the entire remaining balance, including principal and accrued interest, shall
be due and payable in full. Prepayments of principal may be made in any amount
at any time without penalty.
hereby mortgages to mortgagee, the following described real estate, situated in the County of
Lincoln, State of Wyoming:
Lot 6 of the Lancaster Subdivision Unit No.1, Lincoln County, Wyoming, as
described on the official plat thereof.
SUBJECT TO all covenants, easements, exceptions, restrictions, reservations
and rights of way of sight or record.
Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead
laws of the State of Wyoming and covenants that it is lawfully seised 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 mortgagee as follows:
1. 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
mortgagee all rents, issues, and profits from the property.
RECEIVED 9/12/2008 at 10:12 AM
RECEIVING # 942213
BOOK: 704 PAGE: 707
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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2. 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.
3. To perform, comply with, and abide by each and every the agreements, stipulations,
conditions, and covenants, set forth in said Note and this Mortgage or either.
4. Failure by the mortgagee to exercise any of the rights or options herein provided
shall not constitute a waiver of any rights or options under said Note or the Mortgage accrued or
thereafter accruing.
5. Nothing shall be done on or in connection with the property that may impair
mortgagee's security hereunder; mortgagor will commit, permit or suffer no waste, impairment or
deterioration of the property nor any part thereof, and the property shall be continuously maintained
in good and sightly order, repair, and condition by mortgagor at his expense.
Mortgagor shall obtain, pay for, and continue in force a blanket insurance policy
consisting of fire and casualty insurance including earthquake coverage on the building and
contents, and personal injury comprehensive liability insurance, during the life of this contract, for
the mutual benefit and protection of the parties. Mortgagor shall have mortgagee named as first
loss payee on the insurance policies, shall deliver a copy of the policies to mortgagee, shall pay all
premiums for the insurance and shall provide mortgagee with annual proof that the premiums have
been paid and that the insurance is in full force and effect.
6. 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, mortgagee 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 Paragraph 5 hereof, mortgagee may effect such
repairs as it may reasonably deem necessary to protect the property, at the expense of mortgagor.
Mortgagor shall repay such sums so paid and all expenses so incurred by mortgagee, with interest
thereon from the date of payment, at 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 mortgagee so elects, become due and payable
forthwith, anything herein contained to the contrary notwithstanding.
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7. In the event the property is sold under foreclosure and the proceeds are insufficient
to pay the total indebtedness secured hereby, mortgagor binds himself personally to pay the unpaid
balance, and mortgagee will be entitled to a deficiency judgment.
8. In case default is made in the payment, when due, of the indebtedness hereby
secured, or of any installment thereof or any part thereof, or in case of breach of any covenant or
agreement herein contained, the whole of the then indebtedness secured hereby, inclusive of
principal, interest, arrearages, ground rents, if any, taxes, assessments, water charges,
expenditures for repairs or maintenance, together with all other sums payable pursuant to the
provisions hereof, shall become immediately due and payable, at the option of mortgagee, 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
mortgagee to proceed to enforce the provisions of this mortgage either by suit at law or in equity,
as it 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 a good and sufficient deed
or deeds of conveyance of the property so sold, and to apply the net proceeds arising from such
sale first to the payment of the costs and expenses of such foreclosure and sale, including a
reasonable attorney fee, and in payment of all moneys expended or advanced by mortgagee
pursuant to the provisions of Paragraph 6 hereof, and then to the payment of the bala~ce due on
account of the principal indebtedness secured hereby, together with interest thereon and the
surplus if any, shall be paid by mortgagee on demand to mortgagor. In case mortgagee fails
promptly to foreclose on the happening of any default, it shall not thereby be prejudiced in its right
to foreclosure at any time thereafter during which such default continues, and shall not be
prejudiced in its foreclosure rights in case of further default.
9. In case of any default whereby the right of foreclosure occurs hereunder and upon
mortgagee becoming entitled to possession of the premises according to law, mortgagee 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 such possession, rents, issues, and
profits shall at once be delivered to mortgagee on request, and on refusal, the delivery of such
possession, rents, issues, and profits may be enforced by mortgagee by any appropriate civil suit
or proceeding, including action or actions in ejectment, or forceable entry, or unlawful detainer; and
mortgagee shall be entitled to a receiver for the property and all rents, issues, and profits thereof,
and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of
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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, 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.
10. 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.
11. Whenever used herein, the terms "mortgagor" and "mortgagee" include all the
parties to this instrument and the heirs, legal representatives, and assigns of individuals, and the
successors and assigns of corporations; and the term "Note" includes all the notes herein
described if more than one.
12. Mortgagor may not conveyor transfer any interest in or encumber the described
premises without the prior written consent of the mortgagee. Mortgagor must give mortgagee
written notice of mortgagor's intent to conveyor transfer any interest in or to encumber the
described premises at least thirty (30) days prior to the proposed conveyance or encumbrance. If
all or any part of the described premises or an interest therein is sold, transferred or encumbered
by mortgagor without mortgagee's prior written consent, excluding death of a joint tenant or the
grant of any leasehold interest of three (3) years or less not containing an option to purchase,
mortgagee may, at its option, declare the entire remaining balance due under this agreement to be
immediately due and payable and give written notice to mortgagor thereof. After receipt of such
written notice, mortgagor shall have thirty (30) days in which to pay the entire remaining balance to
mortgagee.
IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the 8th day of
September, 2008.
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OOô711.
STATE OF WYOMING
ss.
COUNTY OF LINCOLN
The foregoing Mortgage was acknowledged before me by David Scott Bender, a single
man, this 8" tÁ day of September, 2008.
Witness my hand and official seal.
GERALD L. GOULDING - NOTARY PUBLIC
County of
Lincoln
State of
Wyoming
My Commlllllon S)(phllll MilY 2, 2011
My commission expires: May 2, 2011.
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