HomeMy WebLinkAbout916959
~~:i!f~1;~llim~:fj
17 aIJ
.AFTER RECORDING PLEASE RETURN TO:
FHHLC - POST CLOSING MAIL ROOM
RECEIVED 3/27/2006 at 4:32 PM
RECEIVING # 916959
BOOK: 615 PAGE: 328
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
~555 W. WALNUT BILL LN. #200 MC 6f'?
IRVING, TX 75038 MORTGAGE I
00S7~S8909
MIN
THIS MORTGAGE is made this
LINDA :BUTTERFIELD, A Single Woman
day of
, between the Mortgagor,
(herein "Borrower"),.and the Mortgagee,
Mortgage Electronic Registration Systems, Inc. ("MERS"), (solely liS nominee for Lender, as hereinafter defined, .and Lender's
successors.and assigns). MERS is organized .and existing under the laws of Delaware, .and has .an llddress.and telephone number of
P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
FIRST RORIZON HOME LOAN CORPORATION
, ("Lender ") is organized .and
existing UI1der the laws of THE .sTATE OF KANSAS ,.and has an llddress of
4000 Horizon Way
Irving, Texas 75063
WHEREAS, Borrower is mdebted to Lender m the principal sum of U.S. $ 46,200.00, which
indebtedness is evidenced by Borrower's note dated .and extensions and renewals
thereof (herein "Note"), providing for monthly installments of principal.and mterest, with the illù.ance of indebtedness, if not sooner
paid, due.and payable on April ~st, 2036
TO SECURE to Lender the repayment of the mdebtedness evidenced by the Note, with interest thereon; the paymem of all
other sums, with interest thereon, 11dv.anced in BCcordance herewith to protect the security of this Mongage; .and the performance of
the covenants .and agreements of Borrower herein contained, Borrower does hereby mortgage, gr.ant .and convey LO' 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: SOUTlffiROOK
LOT II OF ~~K RANCHES .smmIVISION,
LINCOLN COUNTY , WYOMING AS DESCRIBED
ON THE OFFICIAL PLAT THEREOF.
(7
7- L/
which has the llddress of 1. 76 POPLAR DRIVE
THAYNE
[City , Wyoming 83.1.27
¡Street
[Zip Code] (herein "Property Address");
TOGETIIER with lIli the improvements now or hereafter erected on the property, and ßll easements, rights, .appurtenances.and
rents, .all of which shall be deemed LO be .and remain a pan of the property covered by this Mortgage; .and.all of the foregoing,
LOgether with said property (or the leasehoW estate if this Mortgage is on a leasehold).are hereinafter referred LO as the "Propeny."
Borrower understands .and agrees that MERS holds only 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 the Propeny; .and LO take .any BCLÌon
required of Lender including. but notJimited to, releasing or canceling this 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 encumbr.ances of record. Borrower covenants that
Borrower WßIT.ants .and will defend gener.ally the title to the Property .against ßll claims .and demands, subject to encumbrances of
record.
UNIFORM COVENANTS. Borrower .and Lender covenant.and agree as follows:
1. P.ayment of Principal JlD.d Interest. Borrower shall promptly pay when due the principal .and mterest mdebtedness
evidenced by the Note.and late charges as provided m the Note.
2. Funds for Taxes .and lnsurJlD.ce. Subject to .applicable law or a written wmver by Lender, Borrower shall pay to .Lender
on the day monthly payments of principal .and mterest are payable under the Note, until the Note is paid .in full, a sum
_ -76N(WY) (0308)
@
Page 1 of4
VMP Mortgage Solutions, tne, (800)521-7291
,"".o!:/t- To'm 3851
Amended .2/01
WYOMING - SECOND MORTGAGE -1/80- FNMA/FHLMC UNIFORM INSTRUMENT WITH MERS
091.6959
nn329
(herein "Funds") equal to one-twelfÚ1 of Ú1e yearly taxes and assessments (including condominium and planned unit development
assessments, if any) which may attain priority over Ú1is Mortgage and ground rents on Ú1e Property, if any, plus one-twelfÚ1 of
yearly premium insrallments for hazard insurance, plus one-twelfÚ1 of yearly premium insrallments for mortgage insurance, if any,
all as reasonably estimated initially and from time to time by Lender on Ú1e basis of assessments and bills and reasonable estimates
Ú1ereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent Ú1at Borrower makes such
payments to Ú1e holder of a prior mortgage or deed of trust if such holder is an institutional lender.
If Borrower pays Funds to Lender, Ú1e Funds shall be held in an institution Ú1e 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 Ú1e Funds to pay said
taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding 1Uld applying the Funds, analyzing
said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on Ú1e Funds 1Uld
applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at Ú1e 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 1Uly interest or earnings on Ú1e Funds. Lender shall give to
Borrower, wiÚ10ut charge, an annual accounting of Ú1e Funds showing credits 1Uld debits to the Funds and Ú1e purpose for which
each debit to the Funds was made. The Funds are pledged as additional security for Ú1e sums secured by this Mortgage.
If the amount of the Funds held by Lender, togeÚ1er wiÚ1 the future monÚ11y insrallments of Funds payable prior to Ú1e due
dates of taxes, assessments, insurance premiums and ground rents, shall exceed Ú1e amount required to pay said taxes, assessments,
insurance premiums and ground rents as Ú1ey fall due, such excess shall be, at Borrower's option, eiÚ1er promptly repaid to
Borrower or credited to Borrower on monÚ1ly insrallments of Funds. If the amount of Ú1e Funds held by Lender shall not be
sufficient to pay taxes, assessments, inSur1Ulce premiums and ground rents as Ú1ey fall due, Borrower shall pay to Lender 1Uly
amount necessary to make up Ú1e 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 Ú1e Property is sold or Ú1e Property is oÚ1erwise acquired by Lender, Lender shall apply, no
later Ú1an immediately prior to Ú1e sale of the Property or its acquisition by Lender, any Funds held by Lender at Ú1e time of
application as a credit against the sums secured by Ú1is Mortgage.
3. Application of Payments. Unless applicable law provides oÚ1erwise, all payments received by Lender under Ú1e Note and
paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph
2 hereof, Ú1en to interest payable on the Note, and Ú1en to Ú1e principal of the Note.
4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under 1Uly
mortgage, deed of trust or oÚ1er security agreement WiÚ1 a lien which has priority over Ú1is Mortgage, including Borrower's
covenants to make payments when due. Borrower shall payor cause to be paid all taxes, assessments and OÚ1er charges, fines 1Uld
impositions attributable to the Property which may attain a priority over this Mortgage, 1Uld leasehold payments or ground rents, if
1Uly.
5. Hazard Insurance. Borrower shall keep Ú1e improvements now existing or hereafter erected on Ú1e Property insured
against loss by fire, hazards included wiÚ1in the term "extended coverage," 1Uld such oÚ1er hazards as Lender may require 1Uld in
such amounts 1Uld for such periods as Lender may require.
The insurance carrier providing Ú1e insurance shall be chosen by Borrower subject to approval by Lender; provided, that such
approval shall 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 1Uld in a form acceptable to Lender. Lender shall have Ú1e right to hold the
policies and renewals thereof, subject to the terms of any mortgage, deed of trust or oÚ1er security agreement wiÙ1 a lien which has
priority over Ù1is Mortgage.
In Ù1e event of loss, Borrower shall give prompt notice to Ù1e insurance carrier and Lender. Lender may make proof of loss if
not made promptly by Borrower.
If Ú1e 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 auÙ10rized to
collect and apply the insurance proceeds at Lender's option eiÚ1er to restoration or repair of the Property or to Ù1e sums secured by
this Mortgage.
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair 1Uld shall not commit waste or permit impairment or deterioration of the Property and shall
comply wiÙ1 the provisions of any lease if this Mongage is on a leasehold. If this Mongage 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 1Uld agreements contained in this Mortgage,
or if any action or proceeding is commenced which materially affects Lender's interest in the Propeny, then Lender, at Lender's
option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees,1Uld take
such action as is necessary to protect Lender's interest. If Lender required mortgage insur1Ulce as 11 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 wiÙ1 Borrower's 1Uld 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 Borrower secured by this Mortgage. Unless Borrower and Lender agree to oÙ1er terms of payment, such amounts
shall be payable upon notice from Lender to Borrower requesting payment Ú1ereof. Nothing contained in this paragraph 7 shall
require Lender to incur any expense or take 1Uly action hereunder.
8. Inspection. Lender may make or cause to be made reasonable entries upon 1Uld inspections of the Property, provided that
Lender shall give Borrower notice prior to 1Uly such 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 consequential, in connection wiÙ1 1Uly
condemnation or other taking of the Property, or part Ù1ereof, or for conveyance in lieu of condemnation, are hereby assigned 1Uld
shall be paid to Lender, subject to the terms of 1Uly mortgage, deed of trust or other security agreement wiÚ1 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 10
release, in 1Uly manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required 10
commence proceedings against such successor or refuse to extend time for payment or oÙ1erwise modify 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 1Uly right or remedy hereunder, or oÙ1erwise afforded by applicable law, shall not be a waiver
of or preclude the exercise of 1Uly such right or remedy.
_ -76N(WY) (0308)
Œ>
Page2of4
'"",."Ýß
Form 3851
f:!:ift~l;i:::j;;:;;;·:;
·n>t"·il"'j'i"'~jr
~,:~¡
0916:5T~u':;
':~~~;¡~~~mmJIT;:
~:;:::-:-,c-
·,..t¡{I330
11. Successors and Assigns Bound¡ Joint and Several Liability¡ Co-signers. The covenants and agreements herein
conœined 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
iliis 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 iliis Mortgage as to that Borrower's interest in ilie Property.
U. 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. Governing Law¡ Severability. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in
which ilie Property is located. The foregoing sentence shall not limit the applicability of federal law to iliis Mortgage. In the event
that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall nOl 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 prohibited 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 hereof.
15. Rehabilitation 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 form acceptable to Lender, an assignment of 1lJ1Y rights, claims or defenses which
Borrower may have against parties who supply labor, materials or services in connection with improvements made to ilie Property.
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 B beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without
Lender's prior written consent, Lender may,Bt 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 the notice is delivered or mailed within which Borrower must pay all sums secured by iliis Mortgage. If
Borrower fails to pay these sums prior to the expiration of iliis period, Lender may invoke any remedies permitted by iliis
Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender furilier covenant and agree as follows:
17. Acceleration¡ Remedies. Except as provided in paragrBph 16 hereof, upon Borrower's breach of any covenant or
Bgreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
Lender prior to acceleration shall give notice to Borrower as provided in paragraph U bereof 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 wbich 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 Mortgage. The notice shall furtber inform Borrower of the right to
reinstate after acceleration Bnd the right to bring a court Bction to assert the nonexistence of B 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 Bnd 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 Bnd 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 sale to
Borrower in the manner provided in paragraph 12 bereof. 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 sale 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. Notwiilistanding Lender's acceleration of ilie sums secured by iliis Mortgage due to
Borrower's breach, Borrower shall have ilie right to have any proceedings begun by Lender to enforce iliis Mortgage discontinued
atany time prior to ilie earlier to occur of (i) ilie [Ifili day before sale of the Property pursuant to ilie power of sale contained in iliis
Mortgage or (ü) entry of a judgment enforcing iliis Mortgage if: (a) Borrower pays Lender all sums which would be then due
under iliis Mortgage and ilie Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or
agreements of Borrower contained in iliis Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing ilie
covenants and agreements of Borrower contained in iliis 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 that the lien of this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the sums secured
by iliis Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, iliis Mortgage and ilie 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 additional security hereunder, Borrower
hereby assigns to Lender the rents of ilie Property, provided iliat Borrower shall, prior to accelerBtion under paragraph 17 hereof or
llbandonment of ilie Property, have ilie right to collect and retain such rents as iliey become due 1U1d payable.
. -76N(WY) (0308)
(!>
Page30f4
Initials: '¿þ
~Form 3851
0916959
C00331
1-4 FAMILY RIDER
(Assignment of Rents)
THIS 1-4 FAMILY RIDER is made this day of ,
and is incorporated into and shall be deemed to amend and supplement the Mortgage,
Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the
undersigned (the "Borrower") to secure Borrower's Note to
FIRST HORIZON HOME LOAN CORPORATION
(the
"Lender") of the same date and covering the Property described in the Security Instrument
and located at:
~76 POPLAR DR.IVE, THAYNE, Wyoming 83~27
[Property Address]
1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the
Security Instrument, Borrower and Lender further covenant and agree as follows:
A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In
addition to the Property described in the Security Instrument, the following items now or
hereafter attached to the Property to the extent they are fixtures are added to the Property
description, and shall also constitute the Property covered by the Security Instrument:
building materials, appliances and goods of every nature whatsoever now or hereafter
located in, on, or used, or intended to be used in connection with the Property, including,
but not limited to, those for the purposes of supplying or distributing heating, cooling,
electricity, gas, water, air and light, fire prevention and extinguishing. apparatus, security
and access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks,
ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm
windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors,
cabinets, paneling and attached floor coverings, all of which, including replacements and
additions thereto, shall be deemed to be and remain a part of the Property covered by the
Security Instrument. All of the foregoing together with the Property described in the Security
Instrument (or the leasehold estate if the Security Instrument ison a leasehold) are referred
to in this 1-4 Family Rider and the Security Instrument as the "Property."
B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to
or make a change in the use of the Property or its zoning classification, unless Lender has
agreed in writing to the change. Borrower shall comply with all laws, ordinances,
regulations and requirements of any governmental body applicable to the Property.
C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not
allow any lien inferior to the Security Instrument to be perfected against the Property
without Lender's prior written permission.
D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in
addition to the other hazards for which insurance is required by Section 5.
0057~5B909
MUL TISTATE 1- 4 FAMILY RIDER - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3170 1/01
~-57R (0411) 1;/£,
Page 1 of 3 Initials:
~~~)~201r~~~g~ Solutions, I nc. 11111111111111111111111111111111111
BE:'::~'í!
."'" '"""IS
~!/i;;~<>:';.;<. ~t"
~~:¡;~:;:~~~!~~:;~
0916959
C00332
E. "BORROWER'S RIGHTTO REINSTATE" DELETED. Section 19 is deleted.
F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in
writing, Section 6 concerning Borrower's occupancy of the Property is deleted.
G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall
assign to Lender all leases of the Property and all security deposits made in connection with
leases of the Property. Upon the assignment, Lender shall have the right to modify, extend
or terminate the existing leases and to execute new leases, in Lender's sole discretion. As
used in this paragraph G, the word "lease" shall mean "sublease" if the Security Instrument
is on a leasehold.
H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN
POSSESSION. Borrower absolutely and unconditionally assigns and transfers to Lender all
the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the
Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents,
and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's
agents. However, Borrower shall receive the Rents until: (i) Lender has given Borrower
notice of default pursuant to Section 22 of the Security Instrument, and (ii) Lender has given
notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This
assignment of Rents constitutes an absolute assignment and not an assignment for
additional security only.
If Lender gives notice of default to Borrower: (i) all Rents received by Borrower shall be
held by Borrower as trustee for the benefit of Lender only, to be applied to the sums secured
by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of the Rents
o the Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents
due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant;
(iv) unless applicable law provides otherwise, all Rents collected by ,Lender or Lender's
agents shall be applied first to the costs of taking control of and managing the Property and
collectin~ the Rents, includin~, but not limited to, attorney's fees, receiver's fees, premiums
on receiver's bonds, repair and maintenance costs, insurance premiums, taxes,
assessments and other charges on the Property, and then to the sums secured by the
Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall
be liable to account for only those Rents actually received; and (vi) Lender shall be entitled
to have a receiver appointed to take possession of and manage the Property and collect the
Rents and profits derived from the Property without any showing as to the inadequacy of the
Property as security.
If the Rents of the Property are not sufficient to cover the costs of taking control of and
managing the Property and of collecting the Rents any funds expended by Lender for such
purposes shall become indebtedness of Borrower to Lender secured by the Security
Instrument pursuant to Section 9.
Borrower represents and warrants that Borrower has not executed any prior
assignment of the Rents and has not performed, and will not perform, any act that would
prevent Lender from exercising its rights under this paragraph.
Lender, or Lender's agents or a judicially appointed receiver, shall not be required to
enter upon, take control of or maintain the Property before or after giving notice of default to
Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do
so at any time when a default occurs. Any application of Rents shall not cure or waive any
default or invalidate any other right or remedy of Lender. This assignment of Rents of the
Property shall terminate when all the sums secured by the Security Instrument are paid in
full.
0057~5B909
S-57R (0411)
@
Page 2 of 3
InitiaIS:~
Form 31701/01
'0916959
C00333
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
,
,
(Seal)
-Borrower
(Seal)
-Borrower
OOS7~SB909
G-57R (0411)
(!)
Page 3 of 3
Form 31701/01
~m·:J:'~~:I:¡:;:; :.:~
e~~tt:~:~:::::~::::;
~._..._-.~-~
'0»Xm"
'·:::;:~;i;::::;:::::,
09!~~~'59
,a 0 334
Ùpon 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 persön, by agent or by judicially appointed receiver, shalt be entitled to
enter upon, t<lke 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 [lIst 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 1ÛI sums secured by this Mortgage, Lender shall release this Mortgage without charge to
Borrower. Borrower shall pay.all costs ofrecordation, 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
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 encumbran and of any sale or other foreclosure action.
(Seal)
(Seal)
-Borrower
-Borrower
(Seal)
(Seal)
-Borrower
-Borrower
(Seal)
(Seal)
-Borrower
-Borrower
(Seal)
(Seal)
-Borrower
-Borrower
(Sign Original Only]
STATE OF WYOMING,
LINCOLN
County ss:
by
Theforegoinginstrumentwasacknowledgedbeforemethis 21st day of March, -7006
LINDA BUTTERFIELD
My Commission Expires: 9-15- 07
:!!~k!~
GLORIA K. BYERS - NOTARY PUBUC
State of
County of Wyoming
Uncoln
My Commission Expires Sept. 15,2007
0057~5B909
. -76N(WY) (0308)
@
Pags4014
Form 3B51