HomeMy WebLinkAbout906481 RECEIVED ~,.)05 at 4:12 PM ~ ~.
RECEIVING # 906481
BOOK: 578 PAGE: 864
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER. WY
SECOND MORTGAGE
ANN HERROD AND GARY HERROD, WIFE AND HUSBAND, OFP.O. Box 8463, Jackson,
WY 83002 , (herein collectively called "MORTGAGOR"), to secure the payment of
FTFTY THOUSAND DOLLARS ($50,000.00), with interest thereon, as provided in and
evidenced by a promissory note of even date herewith (the ultimate maturity date of which
is the 11th day of FEBRUARY, 2008) and all renewals, modification and extensions thereof,
do hereby mortgage unto MICHAEL R. KOCHA, TRUSTEE OF THE HACIENDA TRUST DATED
FEBRUARY 21, 1992 OF P.O. Box 471~ Thayne~ WY 83127 (herein called
"MORTGAGEE"), the following described real property, situate in the County of Lincoln, State
of Wyoming, hereby releasing and waving all rights under and by virtue of the homestead
exemption laws of the State of Wyoming, to-wit:
Lot 11 of Bear Hollow Twin Homes Subdivision, Lincoln County,
Wyoming as described on the official plat thereof filed June 20,
2000 as Instrument No. 866585 of the records of the Lincoln County
Clerk.
MORTGAGOR 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 insurance improvements on the
Property against loss by fire and earthquakes, with extended coverage, in an amount not less
than the unpaid balance of the debt hereby secured, or the insurable value (replacement cost)
of such improvements whichever is less, which insurance shall contain an appropriate loss
payable provision protecting 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 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, 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 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 ~iming, by through or under
the MORTGAGOR only. , ,.f~
Witness our hands thisbe',--- ~y of February, 2005.
Gary Herrod
State of Wyoming
County of Lincoln
The foregoing instrument was acknowledged before me by Ann Herrod and Gary Herrod this
l:lth day of February, 2005.
Witness my hand and official seal.
~ ~ · NOT~, PUSUC
My Commission [xPires: February 2,
2OO6