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RECEIVED
MORTGAGE LINCOLN COUNTY CLERK
KNOW ALL PERSONS BY THESE PRESENTS, that
Wyoming Limited Liability Company, of P.O. Box 1643, Jackson, Wyoming 83001, hereinafter
referred to as "Mortagagor", to secure the payment of Twenty Thousand Dollars ($20,000.00),
with interest thereon, as provided in and ~videnced by a Promissory Note of even date herewith
(with a maturity date of August 15, 2007), and all renewals, modifications, and extensions
thereof, does hereby mortgage unto CARL DEC, of P.O. Box 5158, Etna, Wyoming 83118,
hereinafter referred to as "Mortgagee", the following described real property, situate in the
County of Lincoln, State of Wyoming, hereby releasing and waiving all rights under and by
virtue of the homestead exemption laws of the State of Wyoming, to wit:
Lot 1 of the Dec Subdivision as shown on the plat thereof that was recorded in the
land records of Lincoln County, Wyoming, on April 14, 2004, as Instrument No. 898490
and Plat No. 315-A.
Together with a nonexclusive 60-foot wide right-of-way easement for ingress and
egress from and to U.S. Highway 89 as shownon said Plat.
Hereby granting non-exclusive utility easements for the installation, operation,
maintenance, repair and replacement of underground utilities, said easements being the
northern 10 feet and the southern 10 feet of said 60-foot right-of-way.easement.
Including and together with all and singular tenements, hereditaments,
appurtenances, and improvements thereon or thereunto belonging, but subject to
reservations and restrictions contained in the United States Patent, taxes, assessments,
covenants, conditions, restrictions, reservations, encroachments, rights-of-way, and
easements of sight and/or of record.
Subject to any mortgages of record.
Said propertY hereinafter referred to as the "Property".
Mortagagor agrees to pay the indebtedness hereby secured; to pay all taxes, assessments,
and charges levied against the Property, as the same become due and payable; to secure,
maintain, and furnish Mortgagee evidence thereof, insurance with an insurance carrier or carriers
acceptable to Mortgagee, covering the insurable improvements on the Property against loss by
fire, with extended coverage, in an amount not less than the unpaid balance of the debt hereby
secured, or the insurable value of such improvements, whichever is less, which insurance shall
contain an appropriate loss payable provision protecting Mortgagor and Morgagee as their
respective interests may aPpear from time to time. The insurance proceeds or any part thereof,
shall at the option of the Mortgagor, be applied either to the reconstruction of improvements on
the Property or to the payment of indebtedness hereby secured. In the event Mortgagor fails to
pay such taxes and assessments, or fails to keep and maintain such insurance as herein provided,
Mortgagor 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 interest thereon, or any part of such principal or interest, when the same shall become
due; or in the case default shall be made in any of the covenants and agreements thereof, which
default is not cured within thirty (30) days after notice thereof is given by Mortgagor, or in the
event that 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 and/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
010
all costs of sale, including reasonable attorney's fees. If the proceeds of the foreclosure sale are
insufficiem 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 be 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 there be on.
Mortgagor warrants title to the Property as to parties claiming by or through or under
Mortgagor only.
The Property is not agricultural property as defined in Wyoming Statutes § 1-18-103.
WITNESS my hand this 30th day of April, 2004.
STATE OF WYOMING )
)ss.
COUNTY r~._~ ~.Tr, c,~ ~X_~ ~
BY:
GUSLANDERS, LLC,
a Wyoming Limited Liability Company
~H~_?~O, ING INSTRUMENT was acknowledged before me by
J.J-A,, ..~ P. ~"h.,.~L~.~.~ , Managing Membeer:,of Guslanders, LLC, a Wyoming Limite'd
Liability Company, for and on behalf of said company pursuant to authority from said
company's Board of Members, this 30th day of April, 2004.
WITNESS my hand and official seal.
My Commission expires:
County of ~ State of
Teton ~ Wyoming