HomeMy WebLinkAbout91079050622 (01) '?
JUL-Z9-05 11:49^M Fi~Og-Deci~ion One MottO'ale
T-148
RECEIVED 8/10/2005 at 10:56 AM
RECEIVING # 910790
BOOK: 593 PAGE: 884 JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, VVY
(: 00884
I MOR.TGAGE l
Loan Number 2100050787510
MIN: 100077910004287419
THIS MORTGAGE is made this 29TH day of .IULY, 2005, between the MOrtgagor, SItERRI L MCCLINTOCK, A
SINGLE WOMAN (herein "Borrower"), and the Mortgagee, Mortgage Electronic Registration Systems, Inc. (herein
"MI~RS"). MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns.
MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint,
MI 48501-2026, tel. (888) 679-MI~RS- The Lender is Intervale Mortgage Corporation, a corporation organized and existing
under the laws of RHODE ISLAND, whose address is 815 RESERVOIR AVENUE, CRANSTON, RltODE ISLAND 02910
(herein "Lender").
W}L~al'(EAS, Borrower is indebted to Lender in the principal sum of U.S. $19,200.00, which indebtedness is evidenced by
Borrower's note dated JULY 29, 2005 and extensions and renewals thereof (herein "Note"), providing for monthly installments
of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable on AI. JGUST 1, 2020;
TO SECURE tO Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of all
other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mortgage; and the performance
of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant and convey to MERS
(solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of
sale, the following described property located in the County of LINCOLN, State of Wyoming:
SEE ATTACHED SCHEDULE "A"
Tax parcel Number 3Z1830315ZS000
which has the address of 214 EAST 5TH AVENUE , AFTON ,
Wyoming _ $3110 _ (herein "Property Address"):
[Zip CO~e]
TOGETI-ISR with all the improvements now or hereafter erected on the property, and all easements, rights, appummaaces and
rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing,
together with said property (or the leasehold estate Lf this Mortgage is on a leasehold) are h~reinafter referred to as the
"Property." Borrower understands and agrees that MERS holds only legal title to the interesm granted by Borrower in this
Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee tbr Lender and Lender's successors and
assigns) has thc right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the
Property; and to take any action required of Lender including, but nOt limited to, releasing and canceling this Security
Instrument.
[~YOMiNG - SECOND MORTGAGE - 1/80 - FNMAJFItLMC MODIIrlED INS~
! 11111111111 II!1t Iiiii illil IIIil Jill IIIII II!11 Illi111111 !1111 Illll Ii111 IIIII i!111 ltll Ifil
Form 3851 (page I of 5 pages)
Bo~ower coven~ts ~a[ Borrower is lawfully seised of ~e estate h~ruby conv~ed and h~ ~e fi~t to mo~gage, gr~t ~d
convey fl~e Prope~y, ~d ~a~ ~e Property is unencmbt~ed, exert for encumbr~ces off,ord. Bonower coven~ts that
Bo~ower w~m ~d will defend gene~ly the title ~o fl~e Prope~y ag~nst ~1 clfims ~d dem~, subject to ~cumbr~ces of
UNIFO~ COVENANTS, Borrower ~d Lender coven~t ~d a~ee ~ follows:
1. Payment of ~eipM ~d Interest. Bo~ower sh~I promptly pay when due the pfincipM and inmrest indebtedness
evidenced by fie No~e ~d late chgges ~ provided in fl~e Not~.
2. Funds t~r T~es and Insurance. Subject to applicable law or a wtiuen waiver by Lender, Bo~owet shMl pay to Lender
on ~e day mon~ly pa~nm ofpfincipM m~d interest ge payable ~det ~e Note, until the'Note is paid in f~l, a sum (herein
~Funds") equal to one-twelf~ of the yegly rexes ~d assrssm~t~ (inclu~ng condominim ~d plmn~d ~it development
~essments, if ~y) which ~y attain priority over ~s Mo~gag~ ~d ground rents on the Prop~y, if ~y, pl~ one-twel~ of
yegly pr~m ~stallments for h~gd insur~ce', pl~s one-~el~ of yegly pre~um in~tM~en~s for momgage ~surm~ce, if
~y, ~1 ~ re~onably ~sfimated initi~ly ~d ~om time ~o t~e by L~mder on fl~e basis of ~essments ~d bills ~d re~onable
estates ~ereof. Bo~owg sh~l not be obligated to ~e such pa~ents of Fm~ds to L~d~r to ~e extent that Bo~owet m~es
su~ pa~ents ~o ~e holde~ of a prior mortgage or d~ed of ~st if ~ch holder is. m ~sdtutionM lender.
If Bo~ow~ pays F~ds to Lender, ~e Funds sh~l be held in ~ ~stimtion ~e deposits or accosts of which ~e in~ured or
gu~mteed by a Feder~ or state agency (including L~der if ~der is such ~ institution). ~nd~r ~h~l apply ~e Funds to pay
s~d t~es, assessments, ~sur~ce pre~um~ md ground ren~- Lender may not charge for so hold~g ~d applying fl~e Funds,
~y~ng smd account or veri~ing ~d compiling sfid ~sessm~nts ~d bills, ~ess L~nder pays Bo~ower inter~t on ~e Funds
~d appli~ble law pe~ts Lmder to m~e such a ch~ge. Borrower ~d Lendc~ may agr~ ~ writing ~ ~e time of execution of
this Mortgage ~at inmres~ on ~e F~ sh~l be paid to Bo~ower, ~d unless ~ a~eement is made or applicable law requires
such interest to bo p~d, L~der shM1 not be required to pay Borrower ~y interest ct e~nings on the F~ds. ~fler ~fll give to
Bo~wet, wi~out chgge, m ~uM acco~ing of ~e F~ds showing credim ~d debits to the F~ds ~d ~e pu~ose for which
each debit to ~ F~ was ~e. ~e Funds ~e pledged ~ additionM security for ~e sums secured by ~is Mortgage.
If ~e ~ount of ~e Funds held by ~nder, toge~er wi~ ~e ~mre money ~t~lments of F~ds payable prior to the due
date~ of t~es, ~sessm~ts, ins~ce premium~ md ground rents, sh~l exceed ~e ~ount requi~d to pay s~d t~es,
~s~ss~nts, insumce prm~ms ~d ground renm ~ ~ey fMl due, ~ch excess ShM1 be, at Bo~ower's option, eider promptly
tepid to Bo~ower or credited to Bo~ower on mon~ly imtallments of Fun~. If fie ~o~t of ~e F~ds h~ld by L~der shM1
not b~ sufficient to pay ~es, ~sessm~ts, insur~c~ premiu~ ~d grand rents ~ ~ey f~ due, Bo~ower sh~l pay to Lender
~y ~ount n~ss~ to ~e up ~e deficiency in one or more pa~ents ~ Lender may require.
Upon payment in ~11 of ~I s~ secured by this Momgage, ~nder shflI promptly re~d to Bo~ower ~y F~ds held by
L~der. if ~der p~agraph 17 hereof ~e Prope~ is sold or ~e P~ope~ is othe~ise acquired by ~nder, ~nder shM1 apply.
no later ~m i~e~ately prior to the sMe of ~e Prope~ or its acqu~idon by Lender, ~y F~ held by Lender at the time of'
application ~ a credit ag~t ~ sums ~ec~ed by this Momgage.
3. Application of Pa~ents, Unless applicable law provides o~ise, MI paym~m received by ~nder under ~e Not~ ~d
p~agraphs 1 ~d 2 hereof shM1 be applied by Lender first ~ payment of ~ounts payable to Lm~der by Bo~ower ~dar
pga~aph 2 hereof, ~en to ~terest payable on ~e Note, ~d ~m ~o ~e pr~cip~ of the Note.
4. ~ior Mo~gage~ ~d Dee~ of T~st; Charges; Liens. Bogower sh~I peffo~ ~1 of B°~ower's obligations under ~y
mo~gage, d~d of trust or o~r security agreement with a lien which has pdorky over this Mo~gage, including Bo~ower's
coven~m m m~o paganin when due. Bo~ower sh~ pay or ca~e to be p~d M1 t~es, assessmcmts ~d omer ch~ges, fines
~d impositio~ a~ributable to ~e Prope~ which may a~t~ a priority over ~is Mortgage, ~d le~ehold paymenm ct ground
t~m, if ~y.
S. M~ard ~sur~ee. Borrower shMl keep the improvm~ts now e~g or hereafter erecmd on ~e Property insured
agent loss by f~e, h~ Mcluded Mthin ~e renu "ext~ded coverage", ~d such o~er h~ds ~ Lender may require ~d in
such ~o~ts ~d for such p~ods as L~ud~r ~y require.
~e ins~mce c~er provid~g the insur~ce shM1 be chos~ by Bo~ower sabjec~ to approv~ by Lender; provided, ~a~ such
approvfl shM1 not be u~e~onably withheld. Ail insur~ce policies md ~ew~s fl~ereof shull be in a fo~ acceptable ~o ~nder
~d s~l include a st~dgd mo~gag~ clause in favor of ~d in a fora acceptable to ~nder. L~det sh~l have ~e fi~t to hold
~ policies ~d renowns ~er~f, subject to ~e te~s of ~y mmgage, deed of trust or o~er set,iv agremnent wi~ a lien
which has p~o~ty over ~is Mo~gage.
h ~e event of loss, Borrower ~1 give prompt noti~ to ~e ~surmce c~er ~d L~der. ~der may m~e proof of loss if
no~ ~de promptly by Bo~ower.
If fie ~ope~y is ab~doned by Bo~ower, or if Bo~ower fills ~o te~ond to L~nder wifi~ 30 days t$om ~e date notice is
mailed by Lender to Bo~ower ~at ~e insut~ce c~rier off~ to settle a ~m for ~s~ce b~efits, Lender is au~ofized to
collect ~d apply ~e ~sur~ee process at ~ud~'s option eider to restoration or r~r of ~e Property or to ~e ~ Secured
by ~is Mo~gage-
FOrm 3851 (page 2 of S pag~$)
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of Lhe Property and shall
comply with the provisions of any lease if this Mortgage is on a leasehold- If chis Mortgage is on a unit in a condonfinium or a
plalmed unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or
governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit
Ctevelopment, and constituent documents.
7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this MOrtgage,
or if any action or proceeding is commenced which materially affects Lender's interest in the ?mpercy, then Lender, at Lender's
option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees, and
take such action ~ is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the
loan secured by this Mortgage, Borrower shall pay file premiums required to maintain such insurance in effect until such time as
the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become
additional indebtedness of Bo~ower secured by this Mortgage. Unless Borrower and Lender agree to other terms of pa)anent,
such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this
paragraph 7 shall requite Lender to incur ann expense or take any action hereunder.
8. Inspection. Lender may make or cause to be made reasonable mar_des upon and inspevtion$ of the Property, provided that
Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest
in the Property.
9. Condemnation. The proceeds of ann award or claim for damages, direct or consequential, in connection with any
condemnation or other talcing of the Property, or part thereof, or for conveyance in lieu of condemnation, ~re hereby assigned
and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has
priority over this Mortgage.
10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification
of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not
operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not
be required to commence proceedings against such successor or refuse to extend time for payment or otherwise moclify
amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's
successors in interest. Any forbearance by Lender in exercising may right or remedy hereunder, or otherwise afforded by
applicable law, shall not be a waiver of or preclude the exercise of any such tight or remedy.
11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The eovemants and ~gteements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender mad Borrower,
subject to file provisions of paragraph 16 hereof- Ail Covenants and agreements of Borrower shall be joint and several. Any
Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing, this Mortgage only to mortgage, grant
and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage, Co) is not personally liable on
the Note or under this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify,
forbear, or rnake any other accommodations with regard to the terms oft his Mortgage or the Note without that Borrower's
consent and without releasing that Borrower or modifying this Mortgage as to ~at Borrower's interest in the Property.
12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower
provided 'for in this Mortgage shall be given bY delivering it or by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender ~ provided herein, and (b) any
notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may
designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been
given to Borrower or Lender when given in the manner designated herein.
13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction
in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to th.is Mortgage- In the
event that any provision or clause of tiffs Mortgage or the Note conflicts with applicable law, such conflict shall not affect other
provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this end the
provisions of this Mortgage and the Note are declared to be severable. As used herein, "cost-,", "expenses" and "attorneys' fees"
include all sums to the extent not prolfibited by applicable law or limited herein.
14. Borrower*S Copy. Borrower shall be fitraished a conformed copy of the Note and of this Mortgage at the time of
execution or after recordation hereof.
Form 3851 (page $ ors pages)
15. Rehabilitation T_.om] Agreement. Borrowe~ shat! ~ulffi! all o£ Bol~ow~:r's obligations under a~y ho~e [,habilitation.
improvement, repair, or other loan agreement which Borrower enters into wifl~ Lender. Lender, at Lender's option, may require
Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses
which Borrower may have against pmies who supply labor, materials or services in connection with improvements made to uae
Propert3'.
16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it
is sold or transferred (or if a beneficial interest tn Borrower is sold or transferred and Borrower is not a natural person) without
Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this
Mortgage- However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this
Mortgage-
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not
less than 30 days from the date fine notice is delivered or mailed within whicll Borrower must pay all sums secured by uais
Mortgage. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted
by uais Mortgage without l~rther notice or demmfl on Borrower.
NON-UNIFORM COVENAlqTS. Borrower and Lender further covenant anti agree as follows:
17. Acceleration; Remedies. Except as provided in paragraph lc5 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in t~s Mortgage, including the covenants to pay when due any sums secured by this Mortgafle,
I~ender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach;
(2) the action required to cure such breach; (3) a date, not less than 10 days from the date the notice is mailed to
Borrower, by which such breaeh must be cured; and (4) that failure to cure such breaela on or be[ore the date specified in
the notice may result in acceleration of the sums secured by this Mortgage. The notice shall l'urther inform Borrower of
the right to reinstate at'tea' acceleration and the right to bring a court action to assert the nonexistence of a default or any
other defense of Borrower to acceleration and sale. If the breach is not em'ed on or bel~ore the date specified ~n the notice,
Lender, at Lender's option, may declare all of the s,wn~ secured by this Mortgage to be immediately due and payable
without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender
shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in tiffs paragrapla
17~ including~ but not limited to, reasonable attorneys~ fees,
If Lender invokes the power ol' sale, Lender shall give notice ol~ intent to foreclOSe to Borrower and to the person in
possession of the Property~ ~f different, in accordance with applicable law. Lender shall mail a eop~ of a notice of the sale
to Borrower in the manner provided in paragraph 12 hereof. Lender shall publish the notice ot' sale and the Property shall
be sold in the manner prescribed by applicable law. Lender or Lender~s designee may purelmse the Property at any sale.
The proceeds of the sale shall be applied in the following order: (a)to all reasonable eosts and expenses of the sale,
inelufling~ but not linfited to~ reasonable attorneys~ fees mad costs of titl~ evidence; (b) to ~fll sums secured by this
Mortgage; and (e) the excess, if any~ to the person or persons legally entitled thereto.
18. Borrower's Right to Reinstate, Notwiuastanding Lender's accelc~ration of ~e sums secured by this Mortgage due to
Borrower's hteacla, Borrower slaall have ~e right to have any proceedings begun by Lender to enforce this Mortgage
fliscominued at any time prior to the earlier to occur of (i) ~e fifth day before sale of the Property pursuant to the power of sale
contained in this Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which
would be ~en due under this Mortgage and the Note l~ad no acceleration occurred; (b) Borrower cures all brea~es of any other
covenants or agreements of Borrower contained in this Mortgage; (e) Borrower pays ~I reasonable expenses incurred by Lender
in enforcing the covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's r~nedies as
provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower takes such action as
Leafier may reasonably require to assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's
obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upo~ suela payment and cure by Borrower, this
Mortgage and the obligations secured hereby shall rermfin in full force and effect as if no acceleration had occurred.
19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Proper~y, provided that Borrower shall, prior to acceleration under paragrapla 17 hereof
or abandonment of the Property. have the right to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 17 hereof or abandonment of ~e Property, and at any time prior to the expiration of any
period of redemption following judicial sale, Lender. in person, by agent or by judicially appointed receiver, shall be entitled to
enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All
ren/s collected by Lender or the receiver shall be applied first m payment of the costs ofmanagemeaxt of theProperty and
collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds ~d reasonable auorneys' fees,
and then to the sums secured by this Mortgage. Lender and the receiver shall be liable to account only for those rents actually
received. Form 3851 Cag~ 4 of 5 pages)
JUL-~-O~ J]:~V^M~ FJ~O~J-D,cJ~iJo~ One ~ortlj~'s~..~ ~,~'~.:i:~:!:;:?.:~!:: +:~O3ZZOT.8~g80 088 8 T-148 P.OI..~ '!~-OZZ
[Check applicable box(es)]
[] Adjustable Rate Rider
[] Graduated payment Rider
[3 Balloon Rider
[] Other(s) [specify]
20. Release. Upon payment of all sums secured by this Mortgage. Lender shall release this Mortgage without charge to
Borrower. Borrower shall pay all costs of recordation, if any.
21, Waiver o[ Homestead. Borrower hereby waives all right of homestead exemption in the Property.
22. Riders to this Security Instrument, If one or more riders are executed by Borrower and recorded together with this
Security lnstmmen£, the covenants and agreements of .each such rider shall be incorporated into and shall amend and supplement
the covenants and a~eements of this Security Instrument as if the rider(s) were a part of this Security Instrument.
[] Condominium Rider [] 14 Family Rider
[] Planned Unit Development Rider [] Biweekly Payment Rider
[]Rate Improvement Rider [] Second Home Rider
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has priority
over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any default under
the superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower has executed this Mortgage.
SItERRI ~,. MCCLINTOCK- ~ v .~o,ow~,
STATE OF WYOMING,
The foregoing instrument was acknowledged before me this
by SHERRI L MCCLINTOCK, A SINGLE WOMAN.
WITNESS my hand and official seal.
My Comn i sio xp es:
County ss: C
JULY 29, 2005
[Space Below This Line Reserved For Lender and Recorder]
When Recorded Mail To:
Decision One Mortgage Company, LLC
Servicing Ageot for Intervale Mortgage Corporation
6060 J.A. Jone~ Drive, Suite 800
Charlotte, North Carolina 28287
This instrument was prepared by:
Form 3851 (page 5 of 5 pages)
.00883
This Real Estate Mortage is second and subject ONLY to a First Real
Estate Mrotgage recording concurently herewith in favor of Mortgage
Electronic Registration Systems, Inc., in the original amount of
$76,800.00, dated July 29, 2005