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HomeMy WebLinkAbout910318 :00379 The Document Prepared By: First An'terican Eqfilty Loan Services, Inc. 1228 Euclid Avenhe. 4th Floor Cleveland. O1t 44115 When Recorded Rerun1 To: First A~nerican Equity Loan Services, Inc. 1228 Euclid Avenue, 4th Floor Cleveland, OH 44115 RECEIVED 7/27/2005 at 3:46 PM RECEIVING # 910318 BOOK: 592 PAGE: 379 JEANNE WAGNER LINCOLN couNTY CLERK, KEMMERER, WY State of Wyoming Space Above This Line For Recording Data Order #:A 73362,_95 MORTGAGE ALS #:5/~..~)qq 2'~ (With Future Advance Clause) DATE AND PARTIES. The date of this Mortgage (Security Insmnnenl) is ................................. and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: ROBERT C WAGNER AND CHRISTINE WAGNER HUSBAND AND WIFE [] If checked, refer to the attached Addendum acknowledgments. LENDER: U.S.Bank, National Association N.D. 4325 17th Avenue SW Fargo. ND 58103 incorporated herein, for additional Mortgagors, their signatures and CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Mortgagor's perfonnmice under this Security Instrument, Mortgagm' grants, bargaius. conveys, mm'tgages and warrants to Lender. with power of sale, the following described property: The real estate nmrtgage herein is described in Exhibit "A" which is attached hereto and hereby incorporated herein by reference. The property is located in .L.[.N.C..O..L.N. .......................................................... at..4..4..8...R.[.V..E..R..V.I.E..W.' .D...R ................... (County) ALPINE ..................................................................................................................... Wyolning .8..3.3..2..8. ............. (Address) (City) (ZIP Code) Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and future itnprovements, structures, fixtures, and replacements that may now, m' at any time in the future, be part of' the real estate described above (all referred to as "Property"). ~--,,~-~,; . 1994 Bani{ers Systems, Inc.. St. Cloud, MN Form USBOCPMTG-WY 9/5/2001 . 0038 0 .3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ .8.3.:9.0.9.'.0.9. ........................................ This limitatio,! of amount does not include interest and other fees and charges'validly h~ade pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of this Security Instrument to protect Lender's security and to perform any of the covenants contained in this Security Instrument. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or snbstitutions. (You must specil~call½: idcnti~ the c/cbt(s) secured and you should h~cludc tt~e l~al matt~rit), date o£such debt(s).) All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender tinder auy prmnissory note, contract, guaranty, or other evidence of debt executed by Mortgagm' iii favor of Lender executed after this Security Instrument whether or not this Securily Instrument is specifically referenced. If more than one person signs this Securily Instrunmnt, each Mm'tgagor agrees that this Security lnstrmneut will secure all future advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one m' mm'e Mortgagor and others. All futm'e advances and other future obligations are secured by this Security Instrument even though all or part tnay not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Secnrity Instrmnent. Nothing iii this Security histrtnnent shall constitute a commitment to make additional or futm'e loans or advances iii any amount. Any such commitment must be agreed to in a separate writing. C. All other obligations Mortgagor owes to Lender, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. D. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise [lrotecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms oI this Security Instrunlent. In the event that Lender fails to provide any necessary notice of the right of rescission with respect to any addition,al indebtedness secured under paragraph B of this Section, Lender waives any subsequent Security interest iii the Mortgagor s principal dwelling that is created by this Security Instrument (but does not waive the security interest for the debts referenced in paragraph A of this Section). MORTGAGE COVENANTS. Mortgagor agrees that the covenants in this section are material obligations under tile Secnred Debt and this Security Instrmnent. If Mortgagor breaches any covenant in this section, Lender may refuse to make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Mortgagor's breach, Lender does not waive Lender's right to later consider the event a breach if it happens again. Payments. Mortgagor agrees that all payments under the Secured Debt will be paid when due and iii accordance with the terms of the Secured Debt and this Sedurity Instrmnent. PrioF Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Mortgagor agrees to make all payments wheu due and to Fu erform or cmnply with all covenants. Mortgagor also agrees not to allow any modificatim,1 m' extension of, nor to request any tm'e advances under any note or agreement secured by the lien document without Lender s prior written approval. Claims Against Title. Mortgagor'will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender lnay require Mortgagor to provide to Lender copies of all notices that such amounts are due and the recei~.ts evideucing Mortgagor's payment. Mortgagor will defend title to the Property against any claiins that would impair the lien of this Security histrmnent. Mortgagor agrees to assign to Lender as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials t~ maintain or improve the Property. Property Condition, Alterations and Inspection. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any waste, impairment, or deterim'ation of the Property. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's.p.fior written consent. Mortgagor will notify Lender of all demands, proceedings, claiuls and actions against Mortgagor, and 16f any loss or damage to the Property. 73 E-,,~"~t~i . 1994 Bankers Systems, Inc.. St. Cloud, MN Form USBOCPMTG-WY 91512001 OS LOa S ii 0 0 3 81 '7, Lender m' Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspdction. Any, inspection of the rroperty shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. Authority to Perform. If Mortgagor fails to perform any duty or any of tile covenants contained in this Security Instrument, Lender lna~,, without notice, perform or cause them to be performed. M,ortgagor appoints Lender as attorney in fact to sign Mortgagor s nalne or pay any arno,un( necessary for performance. Lender s right to perforln for Mortgagor shall, not create an obligation to perforln, and Lender' s failure to perform will not preclude Lender from exercising any of-Lender s other rights nnder the law or this Security Instrument. Leasebolds; Condominiums; Planned Unit Developments. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condolniniuln or a planned unit developlnent, Mortgagor will perform all of Mortgagor's duties under tile covenants, by-laws, or regnlations of (be condominium or planned unit developmeut. Condemnation. Mortgagor will give Lender prompt notice of any pending or threatened action, by private or public entities to purchase or take any or all of the Property through condenmation, eminent domain, or any other means. Mortgagor antborizes Lender to intervene in Mortgagor's name iu any of the above described actions or claims. Mortgagor assigns to Lender the ~roceeds of any award or clailn for damages connected with a condenmation or other taking of all or any part of the Property. ~ucll proceeds shall be considered payments and will be applied as provided in this Security Instl·ulnent. This assigmnent of proceeds is subject to the terlns of any prior mortgage, deedof trust, security agreemeut or other lien doculnent. Iusorance. Mortga~,or shall keep Property insured against loss by lire, flood, theft and other hazards and risks reasonably associated witll the vroperty due to its type and location. This insurance shall be maintained in the amounts and for, the periods that Lender requires. The insnrance carrier providing the insurance shall be chosen by Mortgagor subject to Lender s approval whicb ,shall not be unreasonably withheld. If M,ortgagor fails to maintain the coverage described above, Lender ruay, al Lender s option' , obtain' coverage to protect Lender s rt'ghts m' the Prol)erty accordm' g to the (elms· of tlus' Security Insh'ument. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "lnortgage clause" and, where applicable, "loss payee clause." Mortgagor sball imlnediately notify Lender of cancellation or terlnination of the insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall ilnlnediately give to Lender all receipts of paid premimns and renewal notices. Upon loss, Mortgagor shall give ilnlnediate notice to the insurance carrier and Lender· Lender may Inake proof of loss if not made imlnediatelyby Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, wtlether or not then due, at Lender's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled paylnent nor chan~e the amount of any payment. Any excess will be paid to the Mortgagor. If the Property is acquired by Lender Mortgagor s right to any insurance volicies and proceeds resultlng fi'om dalnage to the Property 'before the acquisition shall 'pass to Lender to tile ext"ent of the S~cul·ed Debt iinlnediately before the acquisition. Financial Reports and Additional Documents. Mortgagor will provide to Lender upon request, any financial statement or inforination Lender may deein reasonably necessary. Mortgagor agrees to sign, deliver, and file any, additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor s obligations under this Security Instrument and Lender's lien status oil the Property. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debt to be imlnediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property· This right is subject to the restrictions ilnposed by federal law (12 C.F.R. 591), as applicable. DEFAULT. Mortgagoi' will be in default if any of the following occur: Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection witb the Secured Debt that is an open end home equity plan. Payments. Any Consumer Borrower on any Secured Debt that is an open end ltome equity plan hils to make a payment when due. t~rop~erty. Any.action pr !nact!on by the .Borrow. er or Mortgagor occurs that adversely affects the Property or Lender's rights in m vroperty. This includes, but is not limited to, the following: (a) Mortgagor fails to lnaintain required insurance oo the Property: (b) Mortgagor transfers the Property; (c) Mortgagor comlnits was? or otherwise destructively uses or fails to lnaintain tbe Property such that the action or inaction adversely affects Lender s security: (d) Mortgagor fails to pay taxes on the Property or otherwise fails to act and thereby causes a lien to be filed against the Property that is senior to th,e lien of this Security Instrument; (e) a sole Mortgagor dies; (f) if more than one Mortgagor, any Mortgagor (lies and Lender s security is adversely affected; (g) the Property is taken through elninent dolnain:, (h) a judgment is filed against Mortgagor and subjects Mortgagor and the Property to, action (bat adversely affects Lender s interest; or (i) a prior lienholder fdreclp~e, sx.,on (be Property and as a result, Lender s interest is adversely affected. 73'~¢ ' '-.00382 O LO: LS Executive Officers. Any Borrower is an executive officer of Lender or an affiliate and such Borrower becomes indebted to Lender or another lender in an aggregate amount greater than the amount permitted under federal laws and regulations. REMEDIES OI~ DEFAULT. In addition to any other remedy available under the terms of this Security Instrument, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a ~nanner provided by law if Mortgagor is iii default. In some instances, federal and state law will require Lender to provide Mortgagor witl~ notice of the right to cure, or other notices and may establish time schedules for foreclosure actions. At the option of the Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. Lender shall be entitled to, without limitation, the power to sell the Property. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it happens again. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS'.FEES; COLLECTION COSTS. If Mortgagor breaches any covenant in this Security Instrument, Mortgagor agrees to pay all expenses Lender incurs iii performing such covenants or protecting its security interest in the Property. Such expenses include, hut are not limited to, fees iucurred for inspecting, ~reserving, or otherwise protecting the Property and Lender's security interest. These expenses are payable on delnand and will ear interest frmn the date of payment until paid in full at the highest rate of interest in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in collecting, enforcing or protecting Lender's rights and remedies under this Security Instrument. This amount may include, but is not limited to, reasonable attmneys fees, court costs, and other legal expenses. This amount does not include attorneys' fees for a salaried employee of the Lender. To the extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees Lender incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. This Security Instrument shall remain in effect until released. Mortgagor agrees to pay for any recordation costs of such release. 10. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environrnental Law meaus, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance: and (2) ltazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which bas characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term iucludes, witbout limitation, any substances defined as "hazardous inaterial," "toxic substances," "hazardous waste" or "liazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Suhstance is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances tbat are generally recognized to be appropriate for the normal use and maintenance of the Property. B. ExcePt as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are, and shall remain in full compliance with any applicable Enviromnental Law. Mortgagor shall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Environmental Law concerning the Property. Iii such an event, Mortgagor shall take all necessary remedial action in accordance with any Enviromnental Law. Mortgagor shall i~mnediately notify Lender iii writing as soon as Mortgagor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or tbe violation of any Environmental Law. 11. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided iii a separate agremnent, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 12. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrmnent but does not si~n an evidence of debt Mortgagor does so onty to mortgage Mortgagor's interest in the Property to secure payment of ~(he Secured Debt ami Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may preveut Lender fi'om bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. The duties and benefits o1' this Security Instrument shall bind and benefit the~uccessors and assigns of Mortgagor and Lender.(1 ' ~ . 1994 Bankers Systems, Inc., St. Cloud, MN Form USBOCPMTG-WY 91512001 O :iLOSI.8 00383 13. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrt, ment may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related .to the Sgcured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Iustrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrulnent. Time is of the essence in this Security Instrument. 14. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 15. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens and assets and all hmnestead exemption rights relating to the Property. 16. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, tiffs Security Instrument will remain in effect until released. 17. APPLICABLE LAW. This Secm'ity Instrmnent is governed by the laws as agreed to iu the Secured Debt, except to the extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations. 18. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. _eck all applicable boxes] Assignment of Leases and Rents [~ Other .................................................................................................. 19. [~] ADDITIONAL TERMS. SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachm~ts. Mortga~l_~wledges receipt of a copy of this~-curlt"---"'y ~n~X, Xon4~date stated on page 1. ACKNOWLEDGMENT: , , . t ~ STATE OF ..... ~.~:~.l.~ ........... COUNTY OF .~ ~'~% ................ } ss (Individual) Thi i ' ' .... ~ ' s nstrument was acknowledged g/~ore me ttus ........ .~ ......... day or ...~.~ ~C.C?~) ...................... .......................... My conlnlission exoires: .... D ~ ~ ~,' ' - ............ ................. ~i . 1994 Bankers Systems, Inc., St. Cloud, MN Form USBOCPMTG-WY 9/512001 7336295 (page 5 of 5) EXHIBIT A SITUATED IN THE COUNTY OF LINCOLN AND STATE OF WYOMING: LOT 101, RIVERVIEW MEADOWS 2ND ADDITION TO THE TOWN OF ALPINE, LINCOLN COUNTY, WYOMING WITHIN THE SOUTHEAST 1/4 OF SECTION 30, TOWNSHIP 37 NORTH, RANGE 118 WEST, ACCORDING TO THAT PLAT FILED FEBRUARY 11, 1994, PLAT NO. 264-D, INSTRUMENT NO. 778568. Permanent Parcel Number: 37183040013400 ROBERT C. WAGNER AND CHRISTINE WAGNER, HUSBAND AND WIFE 448 RIVERVIEW DRIVE, ALPINE WY 83128 Loan Reference Number : 20051290938421/3000379923 First American Order No: 7336295 Identifier: ELS