HomeMy WebLinkAbout913281
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WHEN RECORDED, MAIL TO:
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50921
CHASE HOME FINANCE LLC
10790 Rancho Bernardo Rd.
San Diego, CA 92127
Attn: Doc Control
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I MORTGAGE I
THIS MORTGAGE is made this 19th
STACY BRITTON, A SINGLE WOMAN
day of October, 2005
, between the Mortgagor,
(herein "Borrower"), and the Mortgagee,
CHASE BANK USA, N .A.
existing under the Jaws of UNITED STATES OF AMERICA
200 White Clay center Drive, Newark, DE 19711
, a corporation organized and
, whose address is
(herein "Lender").
WHEREAS, Borrower is indebted to Lender in the principal sum of U.S. $ 34,900.00 , which
indebtedness is evidenced by Borrower's note dated October 19, 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 November 1, 2020
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of an
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 Lender, with
power of sale, the following described property located in the County of Lincoln ,
State of Wyoming:
All that tract or parcel of land as shown on Sch~le "A" attached ~to
which is incorporated herein and made a part hereof_
12-3718-28-3-00-002.00
RECEIVED 10131/2005 at 11:33 AM
RECEIVING # 913281
BOOK: 603 PAGE: 143
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER. WY
which has the address of 448 GREYS RIVER LOOP
ALPINE [City}, Wyoming 83128
[Street] ,
[Zip Code) (herein "Property Address");
TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances 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 if this Mortgage is on a leasehold) are hereinafter referred to as the "Property."
Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and
convey the Property, and that the Property is unencumbered. except for encumbrances of record. Borrower covenants that
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of
record.
UNIFORM COVENANTS. Borrower and Lende,r covenant and agree as follows:
1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness
evidenced by the Note and late charges as provided in the Note.
2. Funds for Taxes and Insuranee. Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender
on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein
"Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned unit development
assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if any, plu$ one-twelftb of
yearly premium installments for hazard insurance, plWJ one-twelfth of yearly premium instalhnents for ~ge inSurance, if any,
all as reasonably estimated initially and from time to time by Lender on the basis of assessmeuts and b~j~ ~Ie estimates
thereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent thatBorro,,~ plalt.es such
payments to the holder of a prior mortgage or deed Qf trust if such holder is an institutiooaIlender. ";
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WYOMING - SECOND MORTGAGE - 1180 -~... UNFORII INSTRUIEIIT
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FCII1Jl385t
CD -76(WY) (0308)
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flit -76(WV) (0308)
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If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or
guaranteed by a federal or state agency (including Lender if Lender is such an institution). L~der shall ap~ly the Funds to Plit s~d
taxes, assessments, insurance premiums and ground rents_ Lender may not charge for so holdmg and applymg the Funds, an~g
said account or verifYing and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and
applicable law pennits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such
interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
Borrower, wdhout charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which'
each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage.
If the amount of the Funds held by Lender, together wdh the future monthly installments of Funds payable prior to the due
dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments,
insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to
Borrower or credited to Borrower on monthly instalhnents of Funds. If the amount of the Funds held by Lender shall not be
sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any
amount necessary to make up the deficiency in one or more payments as Lender may require.
Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds held by
Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no
later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
application as a credit against the sums secured by this Mortgage.
3. AppIicatioD of PayJDeDts. Unless applicable law provides otherwise, all payments received by Lender under the Note and
paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph
2 hereot then to interest payable on the Note, and then to the principal of the Note.
4. Prior Mortgages aDd Deeds of Trust; Charges; LIens. Borrower shall perform all of Borrower's obligations under any
mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage, including Borrower's
covenants to make payments when due. Borrower sball payor cause to be paid all taxes, assessments and other charges, fines and
impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if
any.
s. Hazard IasuraDce.. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage," and such other hazards as Lender may require and in
such amounts and for such periods as Lender may require.
The insurance carrier providing the insurance sball be. chosen by Borrower subject to approval by Lender; provided, that such
approval shaD not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender
and shall include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the
policies and renewals thereot subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has
priority over this Mortgage,
In the event of loss., Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if
not made promptly by Borrower.
If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is
,mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to
collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by
this Mortgage.
6. PreservatioD ud Maintenance of Property; Leaseholds; CondoDliniulDS; Planned Unit Developments. Borrower
shall k.eep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall
comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a
planned 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
development, 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 Property, 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 as 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 the 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 disbW'Sed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts
shaD be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall
require Lender to incur any expense or take any action hereunder.
8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that
Lender shall give Borrower notice prior to any sucb inspection specifYing reasonable cause therefor related to Lender's interest in
the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or consequentia~ in connection with any
condemnation or other 1aking of the Property, or part thereot or for conveyance in lieu of condemnation, are 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 Borrow~ s~all not operate to
release, in any manner, the liability of the original Borrower. and Borrower's successors in interest. Lender S\l\~. .... n ncot be required to
commence proceedings against such successor or refuse to extend time for payment or otherwise modifY amo~tion of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. Any
forbeanmce by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver
of or preclude the exercise of any such right or remedy.
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11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
contained shall bind. and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower, subject
to the provisions of paragraph 16 hereof. All 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, (b) 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 make any
other accommodations with regard to the terms of this Mortgage or the Note without that Borrower's consent and without releasing
that Borrower or modifying this Mortgage as to that 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 as 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. Govenaiag 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 this Mortgage. In the event
that any provision or clause of this 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. "costs," "expenses" and "attorneys' fees" include all
sums to the extent not prolubited by applicable law or limited herein.
14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of
execution or after recordation bereof.
15. RehabilitatioD Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation,
improvement. repair. or other loan agreement which Borrower enters into with Lender. Lender. at Lender's option, may require
Borrower to execute and deliver to Lender, in a fonn acceptable to Lender. an assignment of any rights, claims or defenses which
Borrower may have against parties who supply labor. materials or services in connection with improvements made to the Property.
16. Transfer of tbe Property or a Beadidallaterest in Borrower. If aD or any part of the Property or any interest in it is
sold or transfeued (or if a beneficial interest in 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 shaD provide a period of not less
than 30 days fiom die date the notice is delivered or mailed within which Borrower must pay aD sums secured by this Mortgage. If
Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this
Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Ac:uIer-.tioJI; IJ~~- Except aspro-rided ill paragraph 16 hereof, npon Borrower's breach of any covenant or
JIglftment of Borrower ill this Mortgage, iDdDdiDg the COVeDaDU to pay when due any sums secured by this Mortgage,
Lender prior to acceIent.tiDa ... give DOtke to Borrower as provided ill paragraph 12 hereof specifying: (1) the breacb;
(2) the aetioD required to CDI'e sum breada; (3) a date. DOt less tIwa 18 days fro. the elate the notice is maned to Borrower,
by whidl suda. breada IDIIJt he cued; ud (4) tIaat failure to CIlR sada breada OD or before the date specified in the notice
...y result in aeceleadoD of tbe sums secured by this Mortgage. The DOtice sbaII further inform Borrower of the right to
reinstate UIer aa:eIentioa aDd tile rigW to briDg. CODJt adioD to assert die _DexisteDce of a default or any other defense
of Borrower to aeceleratioD and sale. H tbe breach is ....curecI OA or before die elate specified in the notice, Lender, at
Leader's optioII, BUIJ' declare aD of die...... IeCIIRd by dab Mortgage to IJe u.-fdHteIy clue and payable withont furtber
4lenua~ aad..y iavob tbe power of sale and aay otIrer maecIia penaitted by applicable law. Lender shall be entitled to
coRed aD ~~bIe costs..... apeuses iIu:uned ill pIIDUiag .. ~ provided ill this paragraph 17, indnding, but
Dot limited to, reuouble attomeys' fees.
H Leader iDvobs die power of sale, LauIB sIaaII cfye IIOtice of iateDt to forea.seto Borrower and to the person in
poueuioD oftbe Property, if different, ill ac:cordaDce with applkable law. Leader sbaII mail a copy of a notice of the sale to
Borrower ia the ....... provided ill paQgnpla 12 Iaenef. Lauter sIIaD pIIbJisll die _tice of sale and the Property shaD be
sold ill tbe ......,. prtJCribed by applkable law. LeDder or LauIer's d.......flO..y purchase the Property at any sale. The
proceecls of die sale sIWllJe QPIied ill the fo.willconler:(a) to .. ftaIOIIabJe costs aad expeases of tile sale, including,
bat DOt IbDitecI to, rasouble attomeys' fees.... costs of tide evideace; (b) to aU sams secured by this Mortgage; and (c)
the excess, if ..y, to tile peI'SOII or peno8J legally eatided thereto.
18- Borrowen Right to Reinstate. Notwith.<mmcIirlg I..enda's acceleration of the sums secured by this Mortgage due to
Borrower's breach. Borrower sbaU have the right to have any ~",g.<l begun by Lender to enforce this Mortgage discontinued
at any time prior to the earlier to occur of (i) the fifth day before sale of the Property pursuant to the power of sale contained in this
Mortgage or (iI) eatly of a ;I~ enforcing this Mortpge if (a) Borrower pays Lender aD sums which would be then due
under this Mortgage and the Note had no acceleration OCCUlTed; (b) Borrower cures all breaches of any other covenants or
agreements ofBorroweroontained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing tbe
covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph
11 hereo( including. but not limited to. t=lOD8ble attorneys' fees; and (d) Borrower takes such action as Lender may reasonably
require to 8$SIIl'e that die lien of this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the sums secured
by this Mortgage shall continue ImimpAU:ed. Upon such payment and cure by Borrower. this Mortgage and the obligations secured
hereby shall remain in full force and effect as if no acceleration had occurred.
19. ....~....~ of .Reats; Appo.,.,... of Receiver; Leader in Possessioa. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or
abandnrqn~ of the P1Qperty. have the right to collect and retain such rents as they become due and payable. '
CIl.76(WV) (0308)
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*'ilrm 3851
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Form 3851
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~ -76(WY) (0308)
DIANA M. JOY . NOTARY pueuc
County of /~ Stat,e of
Teton VW Wyoming
My Commission Expires ~- ~ I "' 0 ~
NotaIy Public
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My Commission Expires:
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The foregoing instrument was acknowledged before me this
STATE OF WYOMING,
{Sign Original Only]
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
c6\~~tr~
STACY BRITTON
IN WITNESS WHEREOF. Borrower has executed this Mortgage.
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.
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
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Upon acceleration under paragraph 17 hereof or abandonment of the 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 rents
collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of
rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' 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.
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 of Homestead. Borrower hereby waives all right of homestead exemption in the Property.
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LEGAL DESCRIPTION
1659396
Lot 2, Greys River VillaSC Addition to the Town of Alpine, v.ithin tbe NW 1/4SW1I4 or scbtiQI1
28 andNElf4SE1I4 of Section 29, T':i7N, R.llSW, ae-oordinr; to that pbll, fill;t) in the OfficJ of '
the County Clerk, Lincoln County, Wyoming, I
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