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HomeMy WebLinkAbout913689 0698101619 "Ai) (,/ ',.,- t t RETURN TO: FIELDSTONE MORTGAGE COMPANY 11000 BROKEN LAND PKWY, #600 COLUMBIA, ÞID 21044 RECEIVED 11/14/2005 at 4:07 PM RECEIVING # 913689 BOOK: 604 PAGE: 685 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ,C' !Ì ,'" ." r) r~ '" \ '(, c ,'" J" '.- ',) \) v'....., !".··....'f ..>~) (:~ :>." r"; ~,/,j. i1.~ I MORTGAGE I MIN 100052606981016198 nIlS MORTGAGE is made this 8th day of NOVEMBER 2005 , between the rvlortgagor, jl~ TINA MARIE WHITE AND TRENTON WHITE" , Al<A TINA ì\HITE WIFE AND HUSBAND (herein "Borrower"), and the Mortgagee, Mortgage Electronic Registration Systems, Jnc. ("MERS"), (solely as nominee for Lender, as hereinafter defined, and Lender's successors and assigns), MERS is organized and existing under Úle laws of DeJaware, and has an address and telephone number of P,O. Box 2026, Flint, NIl 48501-2026, tel. (888) 679-MERS, existing under the laws of FIELDSTONE MORTGAGE COMPANY MARYLAND 11000 BROKEN LAND PKWY, #600, COLUMBIA, MD 21044 , ("Lender ") is organized and , and lias an address of WHEREAS, Borrower is indebted to Lender in the principal sum of U. S. $ 30, 880 . 00 , which indebtedness is evidenced by Borrower's note dated NOVEMBER 8, 2005 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, Wiúl the balance of indebtedness, if not sooner paid, due amI payable on DECEMBER 1, 2020 TO SECURE to Lender the repayment of the indebtedness evidenced by Úle Note, with interest thereon; the payment of all other StUllS, with interest thereon, advanced in accordance herewiúl to protect Úle security of this Mortgage; and Úle perfonnance of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant am! convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to Úle successors and assigns of MERS, 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 Schedule "A" attached hereto which is incorporated herein and made a part hereof. 1 Cf ...it) I ' '" f/ which has the address of 992 COUNTY ROAD 119 THAYNE [City], Wyoming 83127 I Street] [Zip Code] 01erein "Property Address "); TOGETHER with all the improvements now or hereaftt'r erected on Úle 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 rv[ortgage; and all of the foregoing, together with said property (or the leasehold estate if this Mortgage is on a kasehold) are hereinafter referred to as the "Property." Borrower understands and agrees that MERS holds on[y legal title to the interests granted by Borrower in this Mortgage; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors and assigns), has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell Úle Property; and to take any action requircd of Lender including, but not limited to, releasing or canceling UJis Mortgage, 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 ÚJat Borrower \varrants and will del"end generally the title to the Property against all claims and demands, subject to encumbrances of record, UNIFOrUvI COVENANTS, Borrower and Lender covenant and agree as follows: I. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness evidenced hy the Note and late charges as provided in the Note. 2. Funds for T;Lxes and Insurance, Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender on the day Illonthly payments elf principal and interest are payable under the Note, untiJ the Note is paid jn full, a sum ~ -76N(WY) (0308) "® Page1of4 VMP Morlgage Solullons, Ine, (800)521'7291 ''II ".</ Inillals ,~k) (/ ¿,u Form 3851 Amended 2/01 WYOMING - SECOND MORTGAGE - 1/80 - FNMNFHLMC UNIFORM INSTRUMENT WITH MERS _. '~j '-- .', !Ì ('. ,"'\ () ~ ""':'1000 (héfein "Funds") equal to (me-twelfth of the yearly taxes and assessments (including condominium and planned unit development assessments, if any) which may attain priority over this t-i!ortgagc' and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium ilblallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by lelll!er on the basis of assessments and bills and reasonable estimates thereof Borrower shall not be obligated to make such payments of Funds to lender to the extent that Borrower maLes such payments to the holder of a prior mortgage or deed of trust if such holder is an institutiouallender. If Borrower pays Funds to lender, the Funds shall be held in an institution tile deposits or accounts of which are insured or guaranteed by a federal or state agency (including lender if lender is such an institution), lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless lender pays Borrower interest on tile Funds and appJicable law pemlits Lender to make such a charge. Borrower and lender may agree in writing at tile time of execution of this Mortgage Ulat interest 011 the Funds shall be paid to Borrower, and unless such agreement is ma(k~ 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, without charge, an annual accounting of the Funds showing cn:dits and debits to tlJe Funds and the j1uq)ose for which each debit to the Funds was made, The Funds are pledged as additional security for the stuns secured by this !\lortgage. If U}e amount of the Funds held by lender, togetller witl} tile 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 tlley fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of Ule Funds held by lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fal] due, Borrower shall pay to lender any amount necessary to make up tile deficiency in one or more payments as lender may require, Upon payment in full of aH sums secured by tllis Mortgage, Lender shall promptly refund to Borrower any Funds helel by leneler. If under paragraph 17 hereof tile Property is sold or the Property is otherwise acquired by lender, lender shall apply, no later tllan immediately prior to Ule sale of tlle Property or its acquisition by lender, any Funds he'll! by lender at the time of application as a credit against tlle stuns secured by tllis Mortgage. 3. Application of Payments. Unless applicable law provides otllerwise, all payments received by lender under tile 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 hereof, then to interest payable on tlle Note, and then to tile principal of the Note. 4. Prior l\Jortgages and Deeds of Trust; Charges; Liens. Borrower shall perfonn all of Borrower's obligations under any mortgage, deed of tITIst or other security agreement with a lien which has priority over this Mortgage, including Borrower's covenants to make payments when due, Borrower shaH payor cause to be paid all taxes, assessments and other charges, tines and impositions attributable to tile Property which may attain a priority over this tvfortgage, and leasehold payments or ground rents, if any. 5, Hazard Insurance. Borrower shall keep tile improvements now existing or hereafter erected on the Property insured against loss by tire, hazards included witl1in the term "extended coverage," and such otller hazards as lender may require and in such amounts and for such periods as lender may require. The insurance carrier providing tile insurance shall be chosen by Borrower subject to approval by lender; provided, tllat such approval shall not be unreasonably witllheld. All insurance policies and renewals tllt'reof shall be in a fonn acceptable to lemler and shall include a standard mortgage clause in favor of and in a foml acceptable to Lender. Lender shall have tile right to hold the policies and renewals Ulereof, subject to tile tenns of any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. In tile event of loss, Borrower shall give prompt notice to tile 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 tllat tile insurance carrier offers to settle a claim for insurance benefits, Lellder is autlwrized to collect and apply Ule insurance proceeds at lender's option eitller to restoration or repair of tlle Property or to tlle sums secured by tlJis Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep Ule Property in good repair and shall not commit waste or permit impainnent or deterioration of the Property and shall comply Witll the provisions of any lease if this Mortgage is on a leasehold. If tllÌs t-.fortgage is on a unit in a condomillium or a planned unit development, Borrower shall perfonn 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 tile condominium or planned unit development, and constituent documents, 7. Protection of Lender's Security. If Borrower fails to perfonn the coveIliints and agreements contained in this Mortgage, or if any action or proceeding is conmlenced 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 tile loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect until such time as tlle requirement for such insurance temlinates in accordance with Borrower's and lender's written agreement or applicable law. Any amounts disbursed by lender pursuant to tllis paragraph 7, with interest tllereon, at the Note rate, shall become additional indebtedness of Borrower secured by this Mortgage, Unless Borrower and lender agree to otller terms of payment, such amounts shall be payable upon notice from lender to Borrower requesting payment thereof. Notl1ing 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 such inspection specifying reasonable cause tllerefor related to lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for d~Ullages, direct or consequential, in connection WiUl any condemnation or otller taking of tile Property, or part tllereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to lender, subject to the tenns of any mortgage, deed of trust or other security agreement with a lien which has priority over tllis Mortgage. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of tile sums secured by this Mortgage granted by lender to any successor in interest of Borrower shall not operate to release, in any manner, tile liability of tile original Borrower and Borrower\ successors in interest. lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this t-.-fortgage by reason of any demand made by Úle original Borrower and Borrower's successors in interest. Any forbearance 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. ~ -76N(WY) (0308) ® Page 2 of 4 J. L (j '(ÍU Initials: \...~. -- Form 3851 I ", .¡;¡-" ,-ç' 'f.J ~ "~ ,-,ì (~J (, 1'\ Î\ ;~ C) 1""1 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and ;jgré¿lflê:¡k.s '~~eÆin 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 Ùle ten1lS of Ù1is Mortgage, (b) is not personally liable on the Note or under ù1is Mortgage, and (c) agrees Ù1at Lender and any other Borrower hereunder may agree to extend, modify, forbear, or ¡nake any oÙ1er accommodations with regard to the terms of ùlis 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 ù1is 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 (11) any notice to Lender shall be given by certitied 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 'tvlortgage shall be the laws of Ùle jurisdiction in which ù1e Property is located, The foregoing sentence shall not limit Ùle applicability of federal law to this ~'ortgage. In the ('vent ù1at any provision or clause of this Mortgage or the Noll' contlicts with applicable Jaw, such contlict shall not affect other provisions of this Mortgage or the Note which can be given effect without Ù1e cont1icting provision, and to this end ù1e provisions of this Mortgage and the Note are declared to be severable, f\, used herein, "costs," "expenses" and "attorneys' fees" inc]ude all sums to ù1e extent not prohibited by applicable law or limited herein. 14. Borrower's Copy. Borrower shall be furnished a confonned copy of the Note and of ù1is Mortgage at Ùle time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrower shall fultill all of Borrower's obligations under any home rehabilitation, improvement, repair, or Olher loan agreement which Borrower enters into wiÙ1 Lender. Lender, at Lender's oplion, may require Borrower to execute and deliver to Lender, in a foml acceptable to Lender, an assignment of any rights, c]aims ur defenses which Borrower may have against parties who supp]y labor, materials or services in connection with improvements made to the Property. 16. Transfer of the Property or a Beneficia] 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 in Borrower is sold or transferred and Borrower is not a natural person) WiÙlOut Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by ù1is Mortgage. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of ù1is 'tYfortgage. 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 ù1e notice is delivered or mailed within which Borrower must pay all sums secured by this Mortgage, If Borrower fails to pay Ù1ese sums prior to Ù1e expiration of this period, Lender may i1!voke any remedies pennitted by Ù1is Mortgage without furù1er notice or demand on Borrower. NON-UNIFORM COVENANTS, Borrower and Lender furÙler covenant and agree as follows: 17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage, including the covenants to pay when due any Slllns secured by this Mortgage, Lender 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 breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in acceleration of the sums secured by this l\fortgage. The notice shall further inform Borrower of the right to reinstate after 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 cured on or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by this Mortgage to be immediately due and payable without furt her 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 this paragraph 17, including, but not limited to, reasonable attorneys' fees. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with applicable law. Lender shall mail a copy of a notice of the sa]e to Borrower in the manner provided in paragraph 12 hereof. Lender shall publish the notice of sale and the Property shall be sold in the manner prescribed by applicable law. Lender or Lender's designee may purchase the Property at any sale. The proceeds of the stùe shall be applied in the following order: (a) to all reasonable costs and expenses of the sale, including, but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this Mortgage; and (c) the excess, if any, to the person or persons legally entitled thereto. 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach, Borrower shan have ù1e right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to Ù1e earlier to occur of (i) the tifùl day before sale of Ùle Property pursuant to the power of sale contained in this Mortgage or (ii) entry of a judgment enforcing ù1is Mortgage if: (a) Borrower pays Lender an slims which would be ù1en due under ù1is Mortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonabJe expenses incurred by Lender in enforcing Ùle covenants and agreements of Borrower contained in Ù1is Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower takes such action as Lender may reasonably require to assure Ù1at the lien of this Mortgage, Lender's interest in ù1e Property and Borrower's obligation to pay the SlUns secured by this Mortgage shall continue unimpaired, 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. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additioJ);¡1 security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided ù1at Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment of ù1e Property, have ù1e right to collect and retain such rents as ù1ey become due and payable. G -76N(WY) (0308) ® Initials "jl U 7:¿) --- Page30f4 Form 3351 ~ ~ ',I '¡ .:¡-¡ L)«(l · '~::; ..J t-, /"\ (~. ,~ () r") ,.··,,·\,Göu Upon acceJeration under paragraph 17 hereof or abandonment of the Pmperty, and at any time prior to the expiratiOlI 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 A II rents collected by Lender or the receiver shall be applied first to payment of the costs of mamgement of the Property ane! collectioll of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable ;ittorneys' fees, and then to the sums sel'ured 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 sel'ured by this Ivlortgage, Lender shall release this 1'vfortgage 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. REQUEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SUPERIOR !\IORTGAGES OR DEEDS OF '['RUST Borrower and Lender request the holder of any mortgage, deed of trust or oÙler encumbrance with a lien which has priority over this Mortgage to give Notice to Lender, at Lender's address set forÙl on page one of this Mortgage, of any default under the superior encumbrance and of any sale or other foreclosure action, IN WITNESS WIJEREOF, Borrower has executerl this !vlorlgage, (Seal) - \_~lí/71{) l {Ylol,¿t tuft cte (Seal) - DnlTo\\'er - BOlTuwcr (Seal) - Borrower TIN.^.:;RIE WIIITE 1\K1\:!£~ lITE 7~Lc e t: (Seal) -Horruwer TRENTON WHITE (Seal) ___ (Seal) -Borrnwer -Borrower (Seal) (Seal) -l1orrlJ\\'er - BorrO\\'t:f [Sigll Origilllll 0111.1'1 STATE OF WYOMING, Lincoln County S5: The foregoing instrument was acknowledged before me this 8th day of November, 2005 by TINA MARIE WHITE AKA TINA 1VIIITE and TRENTON WHITE !\fy Commission Expires: 9-15--07 /<!/êc;v¿¿aJ Á~ k2Y.~.J¿/_... Notary Puhlic / ----_--.....""'-~~~~ GLORIA K BYEf1S . NOTARY PUBLIC County of {~~ State of Lincoln \!'~lV Wyoming My CommIssIon Expires Sept. 15, 2001 ~.~~""""iIL~~....t,.' ~ -76N(WY\, (03081 (!) Form 3851 '" ,~-:: (~,( s c_ _I _ __ ,,:, ~~ .J SCHEDULE A " .,r I~\ n ,~ n '" ',i\'L ':, 9 . "I,.' 'I...) , A portion of the SWIJ.¡NWIÄ of Section 12, T34N Rl19W of the 6th P.M., Lincoln County, Wyoming, being more particularly described as follows: BEGINNING at a point in the west line of said SW IJ.¡NWIJ.¡, said point being a Cotton Gin Spike set 214.50 feet S 0°47'42" W from the Northwest corner of said SW lÄNW%; thence S 88 ° 53' 59" E, 528.00 feet to an Iron Pipe Set; thence S 0°47'42" W, 165.00 feet to an Iron Pipe set; thence N 88°53'59" W, 528.00 feet to a Cotton Gin Spike set in said west line; thence N 0°47'42" E, 165.00 feet to the POINT OF BEGINNING.