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RECEIVED
~LIN00LN 00UNTY CLERK
MORTGAGE
GEOFFREY IMLAY! AND DEBORAH IMLAY, H.U'S!B~L~:fJE~Nb'?i~t~ OF P.O. Box
1426, Thayne,. WY 8J127, (herein collectively called "MORTGAGOR"), to secure the
payment of FIFTY THOUSAND DOLLARS .($50,00'0.00) , with interest thereon, as provided
in and evidenced by a promissory note of even date herewith (the ultimate maturity date of
which is the 8TH day of J?NE, 2007) and all renewals, modification and extensions thereof,
do hereby mortgage unto'iFRED A. PIERCE AND LAVENA C. PIERCE, TRUSTEES OF THE
PIERCE LIVING TRUST ¢!~alzed January 27, 1992, of THAYNE, WYOMING (herein called
"MORTGAGEE"), the follo~ving described real property, situate in the County of Lincoln, State
of Wyoming, hereby rele~iJsing and waving all rights under and by virtue of the homestead
exemption laws of the State of Wyoming, to-wit:
Lot 2 of the RC-cky Point Business Park, Lincoln County, Wyoming as
described on the official plat No. 2-E filed January 10, 2002 as
Instrument No. 878471 of the records of the Lincoln County Clerk.
MORTGAGOR agr.,~es 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 fb, rnish MORTGAGEE evidence thereof, insurance with an insurance
carrier or carriers accepta!~le to MORTGAGEE, covering the insurance improvements on the
Property against loss by fi'e and earthquakes, with extended coverage, in an amount not less
than the unpaid balance o':! the debt hereby secured, or the insurable value (replacement cost)
of such improvements wld.chever is less, which insurance shall contain an appropriate loss
payable provision protectir, g MORTGAGOR 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 apd 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 intere:;t thereon, or any part of such principal or interest, when the same
shall become due; or in ca:se 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, witk'out 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, atthe option of MORTGAGEE, and MORTGAGEE'S legal representatives and
assigns, may proceed by advertisement and sale/or as otherwise authorized by governing law,
to fi~reclose 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 onc~ 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 war'ants title to the Property as to parties claiming, by through or under
the MORTGAGOR only.
Witness our hands this
. . day of June, 2004.
G eof fr ey/-l"ml ay
Deb/o~ra~y
State of Wyoming
County of Lincoln
The fore.~oing instrument was acknowledged before me by Geoffrey Imlay and Deborah Imlay
this ~j day of June, 2004.
Witness my hand and official seal.
My Commission Expires: ( _
/ Notary Public