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MORTGAGE W OOû348
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KNOW ALL PERSONS BY THESE PRESENTS, that John T. £13ratlin, a single person, of
227 Trona, Kemmerer, WY 83101, herein referred to as Mortgagor, to secure the payment ofthe
principal sum of thirty-nine thousand two hundred dollars ($39,200), together with interest, as
evidenced by a promissory note of even date herewith (the "Note"), to the order of G. Christopher
Krell and Tammy Krell, husband and wife, of 1025 Beech Avenue, Kemmerer, WY 83101, herein
referred to as Mortgagees, hereby mortgages to Mortgagees, all interest in the real property, situate
in the County of Lincoln, State of Wyoming, and more particularly described as follows, to-wit:
Lot 5 of Block 1 of the Martin Subdivision to the Willow Addition ofthe Town of
Kemmerer, Lincoln County, Wyoming as described on the official plat thereof,
together with all buildings, improvements and appurtenances thereon situate or in
anywise appertaining thereto.
Together with the 1971 24x55 Manor Mobile Home; VIN #24553NFKCD2135L
located thereon.
Also known as 227 Trona, Kemmerer, Wyoming.
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 appeliaining, and the reversion and reversions, remainder and remainders, rents, issues,
and profits thereof, and all fixtures now or hereafter attached to the premises.
Mortgagor covenant that Mortgagor is lawfully seized of the premises; that the premises 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.
Mortgagor covenants with Mortgagees as follows:
SECTION ONE
RENTS, ISSUES, AND PROFITS
In case of default in any ofthe 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 of Mortgagor's interest in and to all rents, issues, and profits from the property.
SECTION TWO
RESTRICTIONS ON TRANSFER: NO FURTHER ENCUMBRANCES
The Mortgagor shall not, whether voluntarily or involuntarily by operation of law or
otherwise (i) transfer, sell, conveyor assign all or any portion ofthe property, or contract to do any
of the foregoing, including without limitation, enter into options to purchase, installment sales
contracts, land contracts, real estate contracts or contracts for Deed of Trust, (ii) change the legal
possession or use thereof, or (iii) except as provided in this Section, permit the dilution, transfer,
pledge, hypothecation or encumbrance of any ownership interest in the property mortgaged herein.
Except for easements for drainage or utilities, Mortgagor shall not enter into any easement, rights
of way, agreements affecting property lines or similar agreements affecting the property without the
prior written consent of Mortgagees. Such consent shall not be unreasonably withheld. Mortgagor
shall not without the prior written consent ofthe Mortgagees, directly or indirectly, further encumber
the property, or any part thereof, it being understood by Mortgagor that the property, and all parts
thereof, shall remain free and clear of any and all debt instruments or other obligations for repayment
of money except those given in connection with the loan evidenced by the Note.
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RECEIVED 4/1/2009 at 2:58 PM
RECEIVING # 946265
BOOK: 719 PAGE: 348
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SECTION THREE
PAYMENT OF INDEBTEDNESS
00&349
Mortgagor will pay the indebtedness as provided in the Note. Mortgagor shall have the right
to prepay the principal.
SECTION FOUR
GROUND RENTS: TAXES AND ASSESSMENTS
Mortgagor will pay all ground rents, taxes, assessments, water rents, and other governmental
or municipal charges, or other lawful charges, and will promptly deliver the official receipts therefor
to Mortgagees upon request.
SECTION FIVE
MAINTENANCE OF PROPERTY
Nothing shall be done on or in cOlmection with the property that may impair Mortgagees'
security hereunder; Mortgagor will commit, permit or suffer no waste, impairment or deterioration
of the 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. Mortgagor shall not
remove any buildings, improvements, or appliances located on the property, and Mortgagor shall not
change the contour of any lands, without the prior written consent of the Mortgagees.
SECTION SIX
HAZARD INSURANCE
Mortgagor will keep the improvements now existing or hereinafter erected on the premises,
insured for fire and extended coverage in an amount equal to at least the full replacement cost
thereof. All insurance shall be carried in reputable companies qualified to do business in the State
of Wyoming, and the policies and renewals thereof shall have attached thereto loss payable clauses
in favor of and in form acceptable to Mortgagees. Mortgagees shall be listed on said insurance as
a named beneficiary by reason of that mortgage. MOligagor will promptly deliver a copy of all
insurance policies and proof of premium payment upon request. In the event ofloss, Mortgagor will
give immediate notice by mail to Mortgagees, who may make proof ofloss 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 of the property damage. In event of
foreclosure 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. Each policy or other contract for such insurance
shall contain an agreement by the insurer that, not withstanding any right of cancellation reserved
to such insurer, such policy or contract shall continue in force for at least twenty (20) days after
written notice to the Mortgagees of such cancellation.
SECTION SEVEN
CHARGES: LIENS
In case Mortgagor shall default in the payment of ground rents, if any, taxes, assessments,
water or other governmental or municipal charges, insurance premiums, 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 thereof, Mortgagees may
effect such repairs as Mortgagees may reasonably deem necessary to protect the property, at the
expense of Mortgagor. Mortgagor shall repay such sums 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 above-mentioned 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.
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SECTION EIGHT
EVENTS OF DEFAULT AND ACCELERATION
OOò350
A. Events of Default. The tenns "Event of Default" or "Events of Default", wherever used in
this instrument, shall mean anyone or more ofthe following events:
(1) Failure by Mortgagor to pay within thirty (30) calendar days after due, any sum due
under the Note, this Mortgage, or any payment of tax or insurance deposit or
premium when due; or
(2) Failure by Mortgagor to duly observe, comply with or perfonn within thirty (30)
calendar days after written notice of such failure is given to Mortgagor of any tenn,
covenant, condition or agreement of this instrument; or
(3) The filing by Mortgagor of a voluntary petition in bankruptcy or adjudication of
Mortgagor as bankrupt or insolvent, or the filing by Mortgagor of any petition or
answer seeking or acquiescing in any reorganization, arrangement, composition,
readjustment, liquidation, dissolution or similar relief for itself under any present or
future federal, state or other law or regulation relating to bankruptcy, insolvency or
other relief for debtors, or seeking or consenting to or acquiescing in the appointment
of any trustee, receiver or liquidator of Mortgagor or of all or any substantial part of
the property or of any of the rents, issues, profits or revenues thereof, or the making
by Mortgagor, or either of them, of any general assignment for the benefit of
creditors, or the admission in writing by Mortgagor, or either of them, or their
inability to pay their debts generally as they become due; or
(4) The entry by a court of competent jurisdiction of an order, judgment or decree
approving a petition, filed against Mortgagor, or either of them seeking any
reorganization, arrangement, composition readjustment, liquidation, dissolution or
similar relief for itself under any present or future federal, state or other law or
regulation relating to bankruptcy, insolvency or other relief for debtors, which order,
judgment or decree remains unvacated and unstayed for an aggregate sixty (60) days
(whether or not consecutive) from the date of entry thereof, or the appointment of any
trustee, receiver or liquidator of Mortgagor, or of all or any substantial pOliion ofthe
property or of any of rents, issues profits or revenues t hereof without the consent or
acquiescence of Mortgagor, which appointment shall remain unvacated and unstayed
for an aggregate sixty (60) days (whether or not consecutive).
B. Acceleration. In case of an Event of Default, the whole of the then indebtedness secured
hereby, inclusive of principal, interest, anearages, ground rents, if any, taxes, assessments,
water charges, utilities, 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 ofthe right
to exercise the same at any other time; and it shall be lawful for Mortgagees to proceed to
enforce the provisions ofthis 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, good and
sufficient deed or deeds of conveyance ofthe property so sold, and to apply the net proceeds
arising fÌom such sale first 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 Section Seven hereof, and then to the payment of the balance due on account
ofthe principal indebtedness secured hereby, together with interest thereon, and the surplus
if any, shall be paid by Mortgagees 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 foreclose at any time thereafter during which such Event of Default continues, and
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shall not be prejudiced in Mortgagees' foreclosure rights in case of further Events of Default.
SECTION NINE
MORTGAGEES' RIGHT OF POSSESSION
In case of any default whereby the right to foreclosure occurs hereunder, 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 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 ofthe property or the sufficiency thereofto
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
ofthe 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 contail).ed shall bind, and the benefits and advantages shall inure to, the
respective heirs, executors, administrators, successors and assigns of the parties thereto. Whenever
used, the singular number shall include the plural, the plural the singular, and the use of any gender
shall include all genders.
SECTION ELEVEN
WAIVER
Any waiver by either party hereto of any breach of any kind or character whatsoever by the
other party, whether such waiver be direct or implied, shall not be construed as a continuing waiver
of or consent to any subsequent breach ofthis agreement on the part of the other party.
SECTION TWELVE
NOTICES
All notices, demands, requests and other writings required or permitted to be given hereunder
shall be deemed duly given if hand delivered or if mailed by certified mail, postage prepaid, if
addressed to the parties to their respective addresses stated above. Either party shall have the right
to specify in writing in the manner above provided, another address to which subsequent notices or
writings to such party shall be given. Any notice given hereunder shall be deemed to have been
given as of the date delivered or three (3) days after being mailed.
IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed on this
5. ~ day of March, 2009.
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STATE OF WYOMING
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COUNTY OF LINCOLN
The above and foregoing instrument was acknowledged before me this ~ay of March,
2009 by John T. Spratlen.
WITNESS my hand and official seal.
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