HomeMy WebLinkAbout8747248V:}177 W'f2l, t- 3851
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MORTGAGE
~ THI~ MORTOAOE is ~dc th[~ 20TH day,of ~I,~ , 20ol , between the Mortg~g~r,
~RIO B~LE~, A ~RIED ~ERSON
(herein 'Borrower"), and thc Mortgage~,
~LL~ F~GO ~0~ ~ORTGAG~,
, a cofpond ~on o~lz~d and
(herein "Lender"),
WHEREAS, Bowower is indebted to ~nder in the principal sumof
Indebtedness ts ~vld~ccd by Borrower% note dat~ ~LY 20, 200[ and exlt:nsir~t~ m~d renewals
thereat' (hcrdn "Note"), providing for monthly instalment, of principal and interest, whh the bal~ce of indebtedness, ff not
sooner paid, due and payable On FEBR~Y 01~ 200~ ; ,
TO SECURE to Lender the repayment of the indebtedness evide~]ccd by the Not~, with interest (herren; the payment of all
other sums, with interest Ihc~on, adopted in accordance herewith to protect the security of this Mortgage; and the
perfonnmme of the c0vcll~ts alld agreements of Borrower herein contained, Bom~wer does hereby mortgage, gran~ a~td collvey
to ~nder, with power of sale, the following described property l~ated in the Cmmty o['LINCOLN ,
State of Wyoming:
AOT 4~, LEON ~VINGSTON S~DIVISION Ag g~O~ gY T~ OFFICIAL
P~T OF ~AID S~DIVISION FILED IN THE OFFICE OF THE CLE~
OF L~COL~ ~0~Y, '~OM~O ~ BEI~ ~ITUATE I~ SECTIO~ 19.
TO~HI; 3~ NORTh, R~OE 118 WEST 0F T~E SIXT~ ~RINCIPA5
whidx has the address o[ 444 UOTTA0g hklq~ ALVlN~
{5tr~] [Ckyl
Wyoming O 3 [~8 (herein "Property Address"):
lZ~ Code]
TOGETIIER with ~1 the improvementi' now or hureaher erected on th, property, a,~d all easements, rights,
~md rents, ell of which shall b= deemed to bu and r~min a p~t of the properly e~vered by this Mo~gage; ~d all of the
forego{rig, together with said property (or the leasehold estate il this Mor[gag~ is on n leasehold) am herelna[tur referred to
the "Property."
Borrower covenmts that Borrower tS law~lly seised of the estate hereby conveyed and h~ lhe right to mortgage, grant and
COnVey thc Freer(y, and that the l'ropeNy is unencumbered, except for encumbr~ccs el record, Bo~ower covenants that
Borrower wan'ants arid wilt dclEnd generally rl~o title to tl~e Property against all claims and demands, sub, oct to encumbrances of
record.
UNIFORM COVENANTS. Borrower and Lender covenant m~d agree as follow~:
1. Payment or Prlndpal and lnter~t. Borrower shall promptly pay when due the principal a~d interest
eviduncc~ by thc Nora al~d law charges as provided in the No~,
2, }'ends for 'rax~ and Insurance. Subject to applicable law or a written waiver by I,cndet, Borrower ~hall pay re
t~nde[' on the day monthly payments of principal md interest are payable under the Note. un({[ the Note is paid in full, a sum
(heroin "Funds") equal to one-twelfth of the ye~ly taxes ~xd assussmems (including condomlnh~m m~d ph,nned unit
develop~mnt assessments, if my) which ~my attain priority over thi~ Mortgage and ground rents on file Property, d' any, plus
one-twdflh of yearly premium inslallments for hazard insurance, plus one4welflh tfl' yemly prc~nium installments lot mortgage
insurance, if any, ali ns reasonably estimated initiaily and from time to time by Lender un the basis of assessments m~d billa m~d
reasonable est[mates thercv[ Borrower sha[l not be obligated Io nlukr such payments of Funds to l,cnder lo thc extent
Borrower makes such paymcm,u to tl~e holder of a prior mortgage or deed el trust ff such holder is m~ instituttonal
WYOMING - SECONa UOnTaA=~- ~lOa- FNMA/FHLMC UNIFORM INSTRUMENT [ Form 3~51
il' l]orrower pays Funds to Leader, the Fand,~ shall be held in an insdlutlon the dc'posits or accouats of which ~re Insured
or guarameed by a fcderfl or state agency (including [xr, tler it' Lender is such an institution), [.c~Icr shall apply thc Funds to
pay said taxes, assessments, msur~ce prcmimns ~d grouM rent~. Lender may not charge for so holding and appl/i~g
Funds, ~malyzing said account or verifying ~d compiling said assessments and bills, unless ~nder pays Borrower imeres~ on
the Funds mM applicable law permits I~'ndc~ to m~e such a charge. Borrower mid Lender may agree in writing at thc time of
~x~cudon O¢ IhJs Mor{gage that imerc~t on the Funds shall be paid to Borrower, md unless such agreemem is made or
applicable law requires such interest m be paid. ~nder shall not Be required to pa5, Borrower any interest or earnh~gs on
Funds. ~ader shall give to'Borrowe~, without charge, m~ annual uucoundag of the Fundt showtng credits and debits
Funds mid the pu~se for which each debit to the Funds was ~e. ~le funds are plutlged as additional security Br thc sums
secured by this Mortgage.
If the amount of the ~unds [eld bY Lender, togefl, er with the ~tu~e monthly installments or l~uads payable prior m the duc
dates off taxes, assessments, inmrrmce premium~ and ground'rents, shall ex~'cd the nmounl required Io pay said taxes,
assessments, ln~rance premtums mfl ground rents as they fall flue, such excess shall be, at Borrower's optinn, either promptly
repaid to Borrower or credited ~o Borrower on monthly install~nts of Funds, I1' the mnount c[ the. Funds held by lxndev shall
not be sufficient to pay taxes, assessments, insur~cc prcmlmns ~xd ground re~ts as lhcy I~ll due, Borrower shall [j~y to [,under
rely ~I1OQQ[ necessary to make up the flet]ciency In one o~ more payments ~ l.cnder may require.
Upon payment In fi~ll of eli stuns secured by thJ~ Mortgage, Lender shall promptly re.nd to Borrower any Fund~ held by
Lender. If under paragraph 17 hereof the Pro~r~y is told ot tl~e Property Js otherwise acquired by lxnder, Lende~ shall apply,
no later thinz tn~cqiatcly prior lo the sale of the Property o~ irs accuishioa by LenScr, any l~unds bold by Lender at thc time of
application as a credit against the stems ~ccured by this Morlgagc.
3, AppllcMlon of Payments. Unless applicable law provides od~mwlsc, all paymcnt~ received by Lender under the Note
and paragraph~ I and 2 hereof shall be applied by Lender fir~i in payment of amounts payabie lo tender by Borrower under
paragraph 2 hereoL then to interest payable on the Note, and then to thc pr[adpal of thc
4. ~Jor Mortgages and D~d~ of Tru~q Charges; Liens. Borrower shall p~rferm all or gorrower'~ obligations under
~y ~ortgage, deed of trust or other ~ecurky agreement with a lien which ha~ prlori~y over dds Mortgzge. Including Borrower's
COronals to make payments when due. Bom~wer shall pay or cause ~o ~ paid ali taxes, assessments m~d other charge~, l'i~cs
m~g t~posJrion~ atlributat)le to thc Property which may attain a priority over thB Morlgage, m~d leasehold payments er ground
rents, If any,
S. Hazard Insurance. Borrower shall keep tile iinprovemcnts now ezisLing er hereaf'tcr erected on thc Property insured
against lose by fire, hazards included witldn the tc~ "extended coverage,' ai~d such other haz;~rds as Lender may require and
such mnounts and for such periods as ~ndcr may require.
The Jnsunlnco carder providing the Insurance ~all be chosen by B~rrowcr sttbject to approval by l,cndur; provided, that
SUCh approval shall not Be unreasonably withheld. Ali tnaurm~ce policies ~d renewals thereof shall he in a form acceptable to
Leader mzd shall include a standard mertgagc clause in favor or' m~d in a lkmn acceptable to Leader, I~nder shall have tile right
to hold the policies and renewals thereof, subject to tl~e ter~ cf' any mortgage, deed of trust er other security agreement with a
lien which has priority over this Mortgage,
In the event o[ loss, Borrower shall giv~ prompt notice to the insurance carrier a~d I~mdcr, ~ntl~r may m&e proof of loss
if not made promptly by Borrower,
Ir Lhe Pro~rty is abandoned by Borrower, or If Borr0a~er fails to respond to Ixndcr within 30 days from thc date notice
mailed by Lender tO Borrower that tho insurance carder ofl~r~ to setdc a claim i~r insurance benefits, Lender ts ,uthorized
~llect and apply the Insurance procecds at ~nder's option old,er [o restoration or repair cf thc Property or to the sums scoured
by this Moagagc,
6, P~servation and Maintenance of ~opartYl Leaseholds; Condominiu~ns; Plannt'd Unit Developments. ~orrow~r
shall keep the Property In gm~d repair and aMII not commlt waste or permit impairment or deterioration of tl~e Property and
shall ~omply with thc provisions of mxy lease it: this Mortgage is on a ica:;ehold, If this Motlgage is on a unit in a coadomlnium
or a planned unit development, Borrower ~hall pcdBnn all of BorroWer's ob!igadons umlcr the declaration or covenants crcadng
or governing thc ~ndomlnk~m or pl~ncd unit dcveh~prnent, the bydaws a~xt rcgulatlo~qs of thc coadomintun~ or phmned unit
development, ~zd constituent documents.
7, ~ol~tion of Lender's 8~urity, If Borrower t~ila to perfom the covenants and agreemenl:s conlained in this
Mortgage, or f~ any action or proceeding ia ~enced which materially nFk'cts ~adcr's interest in the Property, cheil Lender,
at Lender's option, upon notice to Borrower, may m&u Such appearances, disburse such sums, including reasonable attorneys'
t~es, and t~e such action as ts necessary to protect Lender's imcrest. If I.cnder required mortgage insurance as a conditiov, of
making the Io~ secured by this Mortgage, Borrower shall pay th~ prcnfiuu~ rc}luired lo maintain such insurance ia cftkct until
such time as thc requirement for ~tlch [nsur~lce terminates in accordance wi~h Borruwer's and ~ader's written agreement or
applicable law.
Any amounts di~burseM by Le.nder pursuant to d~ls 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 paynmnt,
such amounts shall be payable upon notice from Lender to Bo~owcr requesting payment thereoL Nothing contained in this
paragraph 7 shall require l.cnder to incur any ezpcnse or take any action hereunder.
8, Inaction. Lender may n~e or cause to be nmdc reasonable entries upon ~ld hxspcctlons oF the Properly, provided
tlmt Lender .shall give Borrower notice prior to' mzy such inspection spcci[ying construable cause therefor related lu Lender's
Interest in the Property.
9, Condemnation, The proceeds of any award or claim for damages, direct or comcquendal, in connection
condemnation or othel taking of the Property, or part lhcr~f, or for convcy~ce tn lieu or' comlmnnadon, arc hereby
~d shall be paid to Leade[, subject to ;he terms of mty mortgage, d~cd of in, st or other sccurhy agrccn~nt with a lien which
has priority over thl~ Mortgage,
10, liorrower Not Released; Forl~aral~ fly Lender NOi a Waiver, Extension or the time t~r payment or modillcation
of amortization of the sums scoured by Chi; Mot!gage ~an;cd by Leader to any succ¢~s~or in interest of Borrower ~hall not
operate to.release, in any manner, thc liability of tt~e origh~ai Borrower and Borrower's successors in int~resl, I~ndcr shall not
be required to commence proceedings against ~ucl~ successor or re.sc to extcml tkinc for payment or otherwise moail'y
amortization of the sums secured by this Mortgage by reason ef any demand made by the original Borrower ancl Borrower'S
successors in interest, Any forbearmce by Lender [n exercising any right or remedy hereunder, or otherwise al'ti~rded by
applicable law, shall not be a waiver of or preclude the exercise of m~y such right or remedy,
Ii. Sugcessors and Asslgus lloundl Joint and Several Liability; Co.dgners, The covenants aid agrcgnmnts
contained shall bind. and the rights hereunder shall [llur¢ [o, the respective suceesmrs and assigns of ~nder and Borrower,
subject tO the provisions of paragraph 16 her~f. All covcnmxts ~d agreements of Borrower sh~l be joiar and several, Any
Borrower wl~o co-sign~ [his Morlgage, but does not execute tl~e Narc, (a) is co-~[gnlng [hl~ Mortgage aoly to mortgage, grant
md convey [hat Borrower's interest in the Property re ~nder under tho terma o*' this Mortgage, (b) is not p~onally liable on
the Note or under ~is Mortgage, and (e) agrees tl~nt t.ender '~d any oth~ Borrower hereunder may agree to extead, modify,
forbear, or mn~ any mher ~eo~mnodations with regard t0 the terms of this Mortgage or file Note wirhou[ that Borrower's
consent and withou~ relcashig that Borrower or modifying tht~ Mortgage as to that Bon'owcffs interest In the Property.
12. Notice, Except for any notice required under applicable law to b~ given in m~other manner, (~) m~y notice tO Borrower
provided lbr in this MOrtgage shall bc givea by delivering t~ or by mailing such ~loliuc hy cci'dried mail addressed to Borrower
at the Property Addres~ or at st~ch other address as Borrower may designate by notice to Lender as provldml herein, and (b) any
noti~ lo lmnder ~tmll bc given by ceriil~cd nmll to ~nder's address stated hereh~ or to such adler address as Lender may
designate by notice to Borrower as provided herein, Any n0ttc~ provided for in this Mortgage si~all be (Iccm~ to have been
given to Borrower or ~nder wl~en given in the m~er designated
13. Guvc. ning Law; Severability, The state m~d local laws applicable to tiffs Mtmgage~ shall bc the Iowa or the
ju~sdtctton In which ~he Property is located, Thc lbregoin~ ,entcnee short nt~t li~idt fl~e applicability of ~Wcral lam to this
Mortg~gm In the ~wnt that any prevision or clause of fids Me.gage or the Note conflicta with applicable law, such conflict
shall nar affect other provision~ of this Mortgage or the Note which cm~ b~ given effect without the conflicting prav~sion, ,md to
this end [he provlstons of this Mortgage ~d [he Note are declared to be severable, A~ used herein, '*costs, .... expenses"
"alt(~rneys' i~es" include all sums to the ex,at not prohibited by applicable law or Ih'uited herein.
14, Borrower's Copy, Borrower shat[ be ~rnlsh~ a confotmeg colby of xhe Netc and of this Mt)rtgage at tho lime of
e~utian or after recordation hcrcoL
15. Rehabilltathm Loan Agr~nL Borrower ~hall ~lfill all al' Borrower's ohtigations under any home rehabilitation,
Improvement, repair, or Ottmr lorn agreement which Borrower enters int(~ with ~dcr. Lcnder~ a~ l~ndcr's option, may require
Borrower to e~ecme and deliver to Lender, ina f0nn acceptable to Lender, m~ assignment of m~y rights, claims or dcl~llseS
which Borrower may have agoin~t parties who supply labor, matctlfls or scr¥ices In conncutiua wkh h3,provemcnts made to me
Property,
16, Transfer of the Pvi~perty or a Beneficial Interest in Borrower. If all or any part of lhe Property or any interest in it
is sold or transferred (or if a beneficial interest in Borrower is sold or traxsfcrrcd m~fl Borrower is not a natural person) witlmut
~nOr's prior written ~nsent, ~nder may, at it~ option, require immediam payment In full of all sums secured by this
Mortgage, floweret, thls option shall not be ezcrcised by Mndcr if exercise is p?ol~ibi~ed by l'~e~'al law as of the date of
Mortgage.
Il' ~nfler exercises fids option, Lender ~hall give Borrower notic, of ~eeeleratiot~, %e notice shall provide a period of not
less than 30 day~ t~om the date th~ notice Is delivered or ~miled wlthla which Borrower must pay alt sums secur~xl by this
Mortgage. If Borrower fails to pay these sun~ prior [0 the expiration or this pcrit~d, Lender may invoke any remedies permitted
by ibis Mortgage without iB~thcr notice or domed on Borrower.
NON-UNIFORM COVENANTS, Borrower ad Lender forger c~vcn~t ami agree as
17, Acceleration; Re~dk~, Except as provided in paragraph 16 hereol~ upon B~wrowcr's breach of any etwenan[ Or
ugr~ment of Borrower la this Mortgage, including the covenants to pay when fl~ any soma secured hy this Mortgage,
Lmxder prior to acceleration shall ilea notice to Borrower tm provided in paragrtq~h 12 horror spaq[ylng; (I) tim breach;
(~) the action required to cure such breach; O) a date, not less than t0 days from the date Ibc notice Is mailed to
Borrower, by which suclx Breach mug be curedt and (4) that failure to cure such breach on or before the date specified in
the notice may result in acceleration of the sums leCured by this Mortgage. The re}rice slmll fm-lher inform Borrower
the right to reinstate aRcr acceleration and the right to bring a court action to assert the nolie~tstence o~ a dd'ault or any
other d~ren~e of Borrower to acceleration and ~ale, Ii' the breach is not cra'eft m~ ar before the date sp~:ified tn the notice,
Lender~ at Lender~ epilog, may d~lare ail o~ thc ~umS secured i~), this Mot[gage ~o be immediately due and payable
without ~urther demand and may Invoke the pea'er o~ sale and any olher remedies ~rmttted by applicable law. Lender
shall be entitled to cell,ct all reasonable costs and expem~ incurred in pursuing thc remeaics pro~'ide~ In thL~ l:aragr~ph
17~ including, but trot limited to, reasonable attorneys'
If Lender invoke~ the power of Sale, Lender shall give notice or intent to foreclose to llorrowev and to the person in
po~loa o~ thc Property, i~ differenh in accordanea ~dth applicable law. Lender shall mail a copy o~ a .otiee of the sale
to 8orrm~'~r in the manner provtd~l in paragraph 12 hereoL Lender shall publish the notlce et' ~ale and the h'operly
shall be sold in the manner pc~o'ibed hy applicable law, Lender or Lender's design~ may purchase the Property at any
sale, The proceeds of the sale ~}mll be applied in the ~ollo~'lng order: (a} to all reasonable rests ami expen~ of the sale,
including, trot not ltmited to, rmson~ble attorneys' fe~ ~nfl costs o~ title evidence; (b) to all .sum~ secured by this
Mortgage; and (e) thc excez~ i~ any, to the persoa or per,oas legally entitled theYetn.
18. Borrower*s Righ~ to ~einstalt. Notwithst~ing ~nder'~ acceleration of the sums secured by lhts Mortgage dar
B~.~rrawer's breach, Borrower shall have the right ~ have any proceedings begun by Lender to cnl~rce thi~ Mm~gagc
dlsconlinued ar gay time prior to the cartier to occur of 0) [he fifth day before sale of lhe Property pursuam m the power o~
~ ~ contained in fl~is Mortgage, or (ii) entry o1:~ judgment enforcing this Mortgage ~t': (a) Bo~ower payu ~nder all sums wMch
would be tlxen flue under ibis Mm'iguge a~d th.¢ Nolo h~ no aeceturation ocuurrea; (h) Rnrrawer autos all breaches or any other
covenants or agreements of Borrower co,rained in this Mortgage; (c) Borrower paya fli reasonable expenses inamred by l.cnder
in unfi~vcing the covemmt~ and agr~ments of Borrower contained in this Mortgage, ~d in cnE~rc[n~ I.ender's rcmedie~
ptovtded in parilgraph 17 hereof, including, but net lin~ted to, reasonable almmcys' fees; mid (d) Borrower takes such action as
~nder ma~ reasonably require to assure ~at the lien of this Mortgage, Lender's Intcrcut in thc Property and Bom>wer's
obligation to pay the sums secured by thB Mcmgagu shall continu~ unimpaired, IJptm such payment ~nd cure by goffowcr,
Mortgage a~d the obllgationa ~ecured hereby shall r,main in f~ll I~rce ~d cfl'~t as iF no acceleration had occurred,
19. A~slgnmcnt et Rents; Ap~lntment of R~dverl Lender In }'ossc,~sion, A~ additional sccurlly hereunder, Borrower
hereby assigns lo Lender tile rents of ~e Property, provided that Borrower ,shall, prior to acceleration under paragraph 17
hereof or abmdonment of lhe Property, ~ave thc right to collect ged retain such refits as they bueoim due and pay~xble.
Upon ~lccclcraiion under paragraph 17 h~teof or abandonnient of the Property, ~cl at any time peior to th~ expiration of
any ped~ of redemption following judicial salt~, Lender, in person, hy ngent or by judichlly ap~intcd receiver, shall ~
cnild~ to enter upon, t~e possession of mid manage the Property and to collect thc rents of tlte Property including thoue pa~t
due. All rents collected by L~der or the receiver sh~l be applied first to payment of the costs of m~agem¢,nt of tho Property
and eollecllon of rcnts, including, but not lhnited to, receiver's fee~, premiums' on receiver's ~onds and reamnable attorncya'
fees, <d then to tim sums 8~uted by this MOrtgage. Lender and the receiver M~a[l be liable to account only lbr those renls
actually received,
20, Release, Upon paymem of alt sums secured by thl~ Mortgage, Lender shall release this Mortgagu without charge to
~orrOwer, Borrower ~hall pay all cost~ o[ recordation, tf my.
21, Waiver et Hom~steatl. Borrower hereby wanes all right of homes[cud exemption iu the Property,
REQUEST FOR NOTICE OF DEFAULT
-- -AND FORECLOSURE UNDER SUPERIOR ......
MORTGAGES OR DEEDS OF TRUST
lire'rower and Lender request the hold~w o? m~y mortflage, deed of trust or other cncumbrm~ce with a lien which has
priority over d~is Mortgage to give Nodee to Lender, at ~nder's address set [orth on page on~ of this Mortgage, of m), default
under th~ superior encumbnmee ~d of any sale or other foreclosure action,
IN WITNESS WHEREOF, Borrower has ex~culed tht~ Momgag~
~ (Seal)
-Borrower
(Seal)
(S~,~)
-ltarrowor
G~gn Or?ginrd O~l~)
STATE OF WYOMING, Lincoln County ss:
The tbregotng instrumentI was acknowledged before ~m th}s ~hT 2 O, ~ 00~
MyCommis~lon Expire~: February 2 2002 ~
Notary Publio
.761WY) t~ ~),Cl ~ a ~* ~ Form 3851