This looks like an extract from the minutes of the kirk session. The session was a kind of court consisting of the parish minister and the elders of the kirk. Their doings were recorded by the session clerk. Sedt is an abbreviation of the Latin word sederunt, which means "they sat". It comes before the list of those present at a meeting.
The minister was in the chair (unless he was absent when an elder would do it). The chairman was called the moderator (abbreviated here to Modr). Because William Morison is given the title Master (Mr), he will be the minister. Mr at that period was not a general title for a man, but was used of men who had a Master of Arts degree from a university.
Koch/Kock is a placename.
The elders (the two Hectors here) were respectable members of the community, usually chosen from different areas of the parish, who assisted the minister in the care of the congregation. Because they are both described as "of" a place, they are the owners of that piece of land. John is a tenant, because it says "in" before the place he lives.
The minutes would be recorded by the session clerk. He was usually the parish schoolmaster.
"Coll" here means the laird of Coll. Landowners were often referred to by the name of their land. "G - man" is perhaps a mistranscription of tacksman, a higher class of tenant, often a relative of the laird.
