HomeMy WebLinkAbout915383
-RETURN TO:
MeridÌi!n Trust F€œrlll Cr€dit UniDn
2223 Warr€n Avenue
Cheyenne. WY B2001
RECEIVED 1/23/2006 Bt 1024 AM
RECEIVING# 915383
BOOK: ß10 PAGE: 251
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
r p () 1"'51
\,.. J ...1 ¡;.,
---- -
{Space Above This Line For Recording Data]
MORTGAGE
THIS MORTGAGE ("Security In:strument''') is ,given on
GARY 1. tfEDGES AND UNDA s. tfEDGES, HUSBAND AND WIfE
JanJ..ülry D6. 2006
. The mort,ga,gor is
("Borrower"'). This Security lnstrument is ,given to
Meridi:an Trust f€œral Cr€dit UniDn
.and whose .address is 2223 Warr€n Av€nue
Chey€nne. WY B20m ("Lender"'). Borrower owes.Lender the principal sum of
Twenty-fi v€ Thous:and 2. 00/100 Dollars
(U.S. $25,OOO.DO ). This debt is evidenced by Borrower's note dated the Bmne date.as this Security lnstrument ("Note"'),
whkh provides for monthly pl1yments, with the full debt, if not p<lÌd earlier, due and pl1Yl1ble on January 15. 2013
This Security Instrument secures to Lender: (11) the repl1yment of the debt evidenced by the Note, with .interest, .and .all :renewals,
extensions.and mod.ifÍCat.ions of the Note; (b) the payment of.all other sums, with .interest, .adv1UlCed under panl,grnph 7 to protect
the Becurity of this Security lnstrument; and (c) the perfon:nance of Borrower's covenants .and .agræmf"nt~ under this Security
1nstnnnent.and the Note. For this pmpose, Borrower does hereby mortgage, ,gnmt and convey to Lender, with power of Bale, the
following described property 10C<l.ted ill ilNCOLN CO County, Wyoming:
lEGAL DESCRIPTION ATTACHED tlERETo AND MADE A PART tlEREoF, AS EXHIBIT 'A'
I U
J ,:-;
; f:
which.has the .address of
nO.R1lB.S6. UNCDiN CO
SMOOT, WY B3126
("Property Address"');
TOGETIffiR 'WITH.all the TInprovements now or hereafter erected on the properry, .and.all ~:¡Sf"ments, .appurtenances, .and
.fixtures now or hereafter 11 pm of the property. All replacements .and .addiûons shall .also be covered by this Security lnstrument.
All of the fore,going is referred to in this Security In:strument.as the "Property. ."
BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed .and .has the right to mortgage,
,gr2llt.and .convey the Property .and that the Property is lmf"n~l1mhered, except for encumbrances of record. Borrower W.aIT2llts .and
will defendgener.allythe title of the Property llgainst.all claims and dfflT1:md~, Bubject to 2llY encumbnmces of record.
UNIFORM COVENANTS. Borrower.and Lender covenant .and .agree .as follows:
1. Pllyment of Principal.JU1d lnterfSÍ; Pn,!payment .and Late Charges. Borrower shall promptly pay when .due the
principal of.and.interest on the debt evidf"n~f"d by the Note.and 2llY prepl1yment.and late .cilltr,ges due under the Note.
2. Funds for TllXes .and lnsur.ance. Mortgagors.agree to pay the indebtedness lICCording to the terms of B<lÌd promissory
note, .and, during the life of this mortgage, to pay .all taxes .and .assessments on the premises .and to Jœep the TInpIOVement thereon,
insured ll,gainst fire.and other .hazards in .an .amount not less what is considered prudent and necesS1ll}' will1 Meridian Trust Feder.al
Credit Union listed .as lienholder. 1f :mort,ga,gors fail to pay such taxes or a~¡;:e~~mp.nt~ or fail to . keep the premises .insured,
mort,ga,gee may pay the Bmne .and may insure the premises, .and .all .sums paid by:mortgagee for such pmposes Bhall be.added to .and
considered .as 11 part of the .indebtedness.and Bhall draw .interest .at the Bmne rate.
3. Charges; liens. Borrower Bhall pay.all taxes, .assessments, .cilltr,ges, :fines.and impositions .attributable to the Property
which may .attain priority over this Security lnstrument, .and leasehold payments or ,ground rents, if 2llY. Borrower.shall pay these
obligations ill the manner provided ill p1lI.agraph 2, or if not prod in that manner, Borrower shall PRY them on time directly to the
person owed payment. Borrower.shall promptly furnish .Lender .all notices of lIIIlOunts to be :paid under this par.agr1lph. 1f
Borrower makes these payments directly, Borrower shall promptly furnish to.Lender receipts eviclp.n~inl1he payments.
..Borrower .shall promptly dischar,ge 2llY lien which.has priority over this Security lnstrument .unless Borrower: (11) .agrees
in writing to the payment of the obligation .secured by the lien ill 11 manner 1ICCeptable to Lender; (b) .contests ill good faith the lien
by, or df"ff"ncl~ 11,gainst :enforcement of the lien ill, legal proceedin,gs which in the .Lender's opinion operæ::e to prevent the
:enforcement of the lien; or (c) Becures from the holder of the lien 2ll .agreement satisfactory to.Lender Bubordin:Jtillg the lien to this
Security.Instrument. 1f Lender df"tf"rminf"~ that .any part of the Property is subject tOll lien which may .attain priority over this
Security In:strument, .Lender may ,give Borrower 11 notice roentifying the lien. Borrower.shall satisfy the lien or :take one or :more of
the .actions set forth .above within 10 illlys of the ,giving of notice.
4. Bazard or Property Insur.ance. Borrower shall keep the TInpIOVements now :existin,g or hereafter :erected on the
Property :insured 11,gainst loss by fire, hazards included with the tenD "f!xtf"ndf'r .coverage'" .and.any other .hazards, indlldinE flood or
flooding, for which .Lender requires insurID1Ce. This imllT:Jnœ .shall be maint:Jinf"cI in the lIIIlOunts .and for the periods that Lender
requires. The insurID1Ce carrier providing the insunmce shall be .chosen by Borrower subject 10 Lender'B .appIOv.al which.shall not
be .unreasonably withhcld. 1f Borrower fails to maint:Jin .coverllge described llbove, Lender may, .at .Lender's option, obtain
.coveIllge to protect .Lender's ri,ghts in the Property in 1ICCOrdance will1 this mortgage.
All i1J~lIT:mce polices and renew.als .shall be 1ICCeptable 10 Lender .and .shall include .a Btandard mort,ga,ge clause. lender
.shall J1ave the.right to .bold the policies.and renew.als. 1f.Lender requires, Borrower .shall promptly,give to.Lender .all receipts of
DDS-WMM
PAge 1 of 3
,'.:'. ....1¡.....;.;! A~x/ltl/
.~,_ ' ttYol '",
¡,f;::::;:' .l.~¡Nt\J,.:"'-¡¡~ '... .
'!,J~Lf1i ~,' " ' ,¡,
:~~~~?¡',ii:<~
fJ' .:,:.:,;;:,:,:,.;,;,,,','j} i;)?
~ ð'~~!~,d uA",
:;\~¡~¡m~mm;m¡Ij:
r- ...f~;:):~i;:~::;;¡)¡~;;~};¡
,·..",·"..··'..·'''2
"-" l~--L(;¿'~ '''j
paid premiums æ1d renewlÙ notices. 1n the event of loss, Borrower .shall ~ive prompt notice to the insurance carrier æ1d.Lender.
.Lender may make proof of loss unot made promptly by Borrower.
Unless.Lender æ1d Borrower otherwise .agree in writing, insurance proceeds shall be 2pplied to restoration or repair of the
Property damaged, if the restoration or repair is economically feasible æ1dLender's security is not lessened. If the restoration or
repair is not econo.mically feasible or .Lender's security would be lessened, the insurance proceeds shall be 2pplied to the sums
secured by this Security Instrument, whether or not then due, with .any excess paid to Borrower. If Borrower 2bandons the
Property, or does not .answer within 3D days 2 notice from Lender that the ÌDsllrance ~r has offered to settle 2 claim, :then
Lender may collect the insurance proceeds. .Lender may use the proceeds to repair or restore the Property or to P2Y sums secured
by this Security Instrument, whether or not then due. The 3D-day period will be~in when the notice is ~iven.
Unless .Lender .and Borrower otherwise .agree in writing, .any 2pplication of proceeds to principii .shall not :extend or
postpone the due date of the monthly payments referred to in paragraph 1 .and 2 or .change the 1III10unt of the payments.
5. Occupancy Preservation, Maintenance and Protection of the Property; Borrower's Loan Application. Borrower
shall occupy, establish, .and use the Property .as Borrower's principii residence within sixty days 3fter the execution of this Security
lnstrument æ1d shall continue to occupy the Property as Borrower's principii residence for at least one year .after the .date of
occupancy, unless Lender otherwise 1lgIees m writing, which consent shall not be unreasonably withheld, or unless e:xt~nmltinz
circumstances exist which Me beyond Borrower's control. Borrower.shall not destroy, damage or impair the Property, lIl.low the
Property to deterior2te, or commit waste on the Property. Borrower shall be in default if .any forfeiture llCtion or proceeding,
whether civil or criminal, is be~un that m Lender's ~ood faith jllClvn~nt could result in forfeiture of the Property or otherwise
materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such 2 detIu1t æ1d
reinstate by causing the .action or proceedings to be dismissed with a ruling that, in Lender's ~ood faith determination, precludes
forfeiture of the Borrower's interest m the Property or other material impairment of the lien created by this Security lnstrument or
.Lender's security interest. Borrower Shall.also be in defuult if Borrower, during the loan.application process, ~ave materially false
or inaccur2te information or st:JtPm~nts to Lender (or failed to provide Lender with any material infonnation) in connection with the
loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy or the Property as 2
principal residence.
6. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants .and 1lgIeements contained
in this Security lnstrument, or there is 21e~al proceeding that may significantly .affect .Lender's rights in the Property (such as 2
proceeding ill bankruptcy, prob2te, for c()ncl~mn:Jtion or forfeiture or to enforce laws or regulations), then.Lender may do.and pay
for whatever is necessary to protect the viiue of the Property .and .Lender's rights in the Property. .Lender's .actions may include
paying .any sums secured by a lien which has priority over this Security Instrument, 2ppearing ill court, paying reasonable
2ttomey's fees.and ~nt~rinz on the Property to make repairs. Any 1III10unts disbursed by .Lender under this paragraph.shall become
.additional debt of Borrower 5ecured by this Security 1nstrument. Unless Borrower .and .Lender .agree to other terms of p2yment,
these l:lIIlOunts .shall bear interest from:the .date of disbursement .at the Note r2te.and .shall be paY2ble, with .interest, upon notice
from .Lender to Borrower requesting payment.
ï. Inspection. Lender or its 2gent may make reasonable entries upon .and inspections of the Property. .Lender shall give
Borrower notice 111 the time of or prior to .an illspection specifying reasonable cause for the inspection.
8. CODð~mmltion. The proceeds of .any 2WMd or claim for damages, direct or consequential, ill connection with .any
.c()ncl~mn:Jtion or other taking of .any pm of the Property, or for conveyance ill lieu of concl~mn:Jtion, Me hereby assigned æ1d shall
be paid to Lender,
In the event of 2 total taking of the Property, the proceeds shall be applied to the sums secured by this Security lnstrument,
whether or not:then due, with.any excess paid to Borrower. In the event of 2 partial taking of the Property ill which the fair market
VlÙue of the Property immf".c1iM~ly before the taking is equal to or greater tlum the 1III10unt of the sums secured by this Security
lnstrument shall be reduced by the l:lIIlOllDt of the proceeds :multiplied by the following fraction: (2) the total1lII10unt of the sums
secured immediately before the taking, divided by (b) the fair market vilue of the Property :immediately before the taking. Any
bilance.shall be paid to Borrower. .In the event of 2 partial taking of the Property in which the fair market viiue of the Property
imm~cli:Jt~]y before the taking is less tlum :the l:lIIlOunt of the sums secured immediately before the taking, unless Borrower .and
.Lender otherwise agrtt ill writing or unless 2pplicable law otherwise provides, the proceeds .shall be 2pplied to the sums secured by
1his Security Instrument whether or not the sums .are then due.
If the Property is lÙJandoned by :Borrower, or if, .after notice by Lender to Borrower that the condemnor offers to make .an
aWMd or settle 2 claim for damages, Borrower fails to respond to.Lender within 3D days after the date the notice is ~iven,.Lender is
.authorized to .collect.and 2pply the :proceeds, 111 its option, either to restoration or repair of the Property or to the sums secured by
this Security Instrument, whether or not then due.
Unless Lender .and Borrower otherwise .agrtt in writing,.any 2pplication of proceeds to yrincipii .shall not extend or
postpone the due .date of:the monthly payments referred to ill pMagraphs 1 æ1d 2 or change the 1lIIlount of such payments.
9. Borrower Not Rcleased;Forbearance By Lender Not.a Waiver. Extension of the time for payment or modification
of 1III10rtization of the sums secured by this Security Instrument granted by .Lender to any successor m mterest of Borrower .shall not
oper2te 10 release the liability of the original Borrower or Borrower's successors in interest. .Lender.shall not be required to
c()mm~n~~ :proceedings 2gainst .any successor ill interest or refuse to enend time for payment or otherwise modify l:lIIlOrtization of
the sums secured by this Security .Instrument by reason of .any d~m:Jllcl made by the original Borrower or Borrower's successors in
interest. Any forbearance by Lender in exercising .any right or remedy .shall not be 2 waiver of or preclude the exercise of .any right
or remedy.
10. .successors and Assigns Bound; .Joint and Sever.al Liability; Co-sîgners. The covenants æ1d agrF.Pm~nt~ of this
Security lnstrument .shall bind .and benefit the 5uccessors .and .assigns of .Lender .and Borrower, subject to the provisiruis of
paragraph n. Borrower's covenants .and .agreements .shall be joint æ1d several. Any Borrower who co-signs this Security
Instrument but does not execute the Note: (a) is co-signing this Security 1nstrument only to mortgage, gr.ant.and convey that
Borrower's interest ill the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
secured by this Security lnstrument; .and (c) .agrees that.Lender æ1d .any other Borrower may 2gree to extend, modify, forbear or
make.any .acconnnodations with regard to:the terms of this Security lnstrument or the Note without that Borrower's .consent.
11. Loan Charges. If the lOan secured by this Security Instrument is subject to 2 law which sets m:J'J('imnm loan .char~es,
.and that law is :finally interpreted so that the :interest or other loan .charges collected or to be collected in connection with :the loan
exceed :the permitt~cl1imits, then: (2).any.such lo.an cl1ar~e .shall be reduced by the 1III10unt necessary to reduce the .char~e to the
pennitted limit; .and (b) .any sums .already collected from Borrower which exceeded pennitted limits will be refunded to Borrower.
.Lender may cl100se to make this refùnd by reducing the principal owed under the Note or by .making 2 direct payment to Borrower .
If .a refund reduces principal, the reduction will be treated as .a p.artial prepayment without.any prepayment .char~e under the Note.
DDS-WMM
P.age20f3
...
i~£
r- ;/rf(,
l' 'Q ....~ t::"'38~
J~:<.L""¡ , Ä4
o ¡-o, n .'...,... 3
.~ . : : . : ~l'...' ~',
.. ,-' _ f"op v
,,12. Governing Law; SeverJlbility. This Security lnstrument Bhal1 be gov.erned by federnl law .and the law of the
jurisdiction in wlrich the Property is located. 1n the event that .8Ily provision or clmlse of this Security 1nstrument or the Note
conflicts with .applicMle law, such conflict Bhal1 not meet other provisions of this Security lnstrument or the Note which .can be
given effect without the conflicting provision. To this end the provisions of this Security lnstrument .and the Note .are .declared to
be severable.
13. A.cceler.ation; Remedies. Lender shall give notice to Borrower prior to JlccelerJltion following Borrower's breach
of .any .covenant or Bgreement in this Security Instrument. The .notice shall specify: (Jl) the defJl1Ùt; (b) the Action required
to cure the default; (c).a date, not less than 30 days from the date the notice is given to Borrower, by wbich the default must
be cured; .and (d) tlwt f.ailure to cure the default on or before the date specified in the .notice may result in JlccelerAtion of the
.sums secured by this Security Instrument .and sale of the Property. The .notice shall further infonn Borrower of the right to
reinstate .after .acœlerJltion .and the right to bring.a court JlCtion to .assert the non-existence of.a defJl1Ùt or .any other rlefense
of Borrower to llccelerAtion .and sale. If the defuult is not cured on or before the date specified in the .notice, LenderJlt its
option may require immediJlte payment in full of Jill sums Becured by this Security 1nstrument without further demand.and
may invoke the power of sale.and .any other remedies permitted by Jlpplicable fuw. Lender shall be entitled to collect Jill
ð.'penses incurred in pursuing the remedies provided in this, including, but not limited to, reasollilble Jlttorneys' fees .and
costs of title evidence.
If Lender invokes the power of we, Lender shall give .notice of intent to foreclose to Borrower .ADd to the person in
possession of the Property, if düferent, in .accordance with Jlpplicable law. Lender shall give notice of the we to Borrower
in the mßnner provided in parBgrAph 14. Lender shall publish the notice of sale, .and the Property shall be sold in the
manner prescribed by .appliœble law. Lender or lis designee may purchase the Property .at.any we. The proceeds of the
we shall be .applied in the following orner: (a) to .all apenses of the sale, including, bntnot limited to, reasonable
Jlttorneys' fees; (b) to Jlll .sums secured by this Security 1nstr.wnent; .and (c) .any euess to the person or persons legally
entitled to it.
14. Release. Upon payment of .all sums secured by this Security 1nstrument, Lender shall release this Security 1nstrument
without charge to Borrower. Borrower Bhal1 pay.any recordation costs.
15. W.aivers. Borrower wmves .all rights of .homestead exemption .in the Property .and rclinquishes .all IÍghts of curtesy
.and .dower .in the property. ,
BY SIGNING .BELOW, Borrower .accepts.and .agrees to íhe:terms.and !:ovenants !:onta.Ïned.in pages 1 through
3 of íhis security Instrument .and in lIDY rider(s) exeL:uted by Borrower .and recorded with it.
/~J'.~P~
GARY L 5
Social ecurity Number: 520-52-7270
DAlI
/ / tj(lf
(SEAL )
(SEAL )
/ - 0--0(Q
STATE OF WYOMING,
UNCOiN CO
County 5S:
The for~oing instrument was 1lCknowledged before:me this
GARY L HEDGES AND UNDA .s. HEDGES, tiUSBAND AND WIf£
6th day of January. 2006
by
My Commission Expires:
~~~~ad
c9~1/5~
Notary Public
BRANDlE MCDONAlD NOTARY PUBUC
COUNTY OF . STAlEDF
LINCOLN WYOMING
MY COMMISSION EXPIRES FEB, 13,2009
.DDS-WMM
J>1Ige 3 of 3
.;'tt '~i-!,'jt'·fM '·'
'~I.I ·iliii~lili¡;.r."~
;~:;:~i!:i~:2¡~:;:
,.
. ~.(·c" ,', 1.::"'1'8"~
J --." ,-...i....; ....¿ '-l:i If:..
. i: P ~r.-4'
'. ",;' ,.~2 t-,J
GARYI-. HEDGES
LlNDAB. HEDGES
EXHIBIT 'A~
A PORTION OFTHENEl/4EWl/4 OF SECTION 61 TION, R11BW OF IRE 6THJI.M.,
l.JNCOLN COUNTY~ WYOMING BEING MOREPARTICULARLY DESCRIBED 'AS
FOLLOWS:
COMMENCING AI THE BOUTWEST CORNER OF SAID SECTION t5;
THENCEN 00 02"04" W~ 1639.91:FEET ALONG k WEST LINE O:F SAID
SECTION 6;
THENCEN 9D OO'OO~' E. 1754..43FEETTOTIIE:POlNT OFJ3EGINNING
THENCEN 1143'43~ E. 296.67 FEET;
THENCES7816~17" :E. 293.66FEET;
THENCE 511-43~-43'" W. 296.6TFEET;
TBENCEN7816'1T' W. 293.66FEETTOTBEPOJNTOFBEGINNlNG.
'/. ,//;f. ~ i
. f ~~I
. ;,.;;,;
~''":';:.
...
?::¡Wi~j¡;U.'·; :"',. ' .
,.., ,.;'-,- :1'::'-