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HomeMy WebLinkAbout875945 CITI~I'[{/~iq'mzAL, INC. 1895 DEWAR DRIVE ROCK SPRINGS WY 82901 THIS MORTGAGE is made this 7t15:, day of September , 2001 , between the Mortgagor, ' C. JOE EGGLESTON D. ANNETTE EGGLESTON ,,. { (herein "Borrower"), and the Mortgagee, CITIFINANCIAL ;i: INC. , a corporation organized and existing und:er the laws of Maryland , whose address is 1895 DEWAR DRIVE ROCK SPRINGS WY 82901 (herein "Lender"). WHEREAS, Borrower is indebted to Lender in the Principal sum of U.S. $ 20,623.74 , which indebtedness is evidenced by Borrower's note dated 09/0 ?/2001 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable on 09/20/2011 ; : TO SECURE to Lender the repayment, of the indebtedness evidenced by the Note, with the interest thereon; the payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mortgage; and the performance of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant and convey to Lencer, with power of sale, the following described property located in the County of T,TNCOT,N , S:~ate of Wyoming: SEE SCHEDULE C ATTACHED ilERETO AND MADE A PART HEREOF ! which has the address of 1557 HWY 39 , FREEDOOM , Wyoming 83120 (herein "Property~Address"); TOGETHER with all the improventents now or hereafter erected on the property, and all easements, rights, appurtenances and rents, all of which shall l~e deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together with saiC property (or the leasehold estate if this Mortgage is on a leasehold) are hereinafter referred to as the "Property." Borrower covenants that Borrower is L:~.wfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower covenants that Borrower warrants and will :defend generally the title to the Property against all claims and demands, subject to encumbrances of record. Wyoming 26868-4 1/98 Original (Recor~led) Copy (Branch) Copy (Customer) Page I of 5 CARL J EGGLESTON DONNA A EGGLESTON 09/07/2001 UNIFORM COVENANTS. Borrower 'and Lender covenant and agree as follows: 1. Payment of Principal and Intel,~t. Borrower shall promptly pay when due the principal and interest indebtedness evidenced by the Note and late ~::~arges as provided in the Note. 2. Fnnds for Taxes and Insnrance. '~i~ubject to applicable law or a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, sum (herein "Funds") equal to one-twelfth o~ ~he yearly taxes and assessments (including condominium and'planned unit development assessments, if any) which mai!~ attain priority over this Mortgage and ground rems on the Prope~y, if any, plus one~twelfth of ye~ly premium installm!~.ni~s for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimat~,,s'~hereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent that Borrower mak~:.,~s; such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender. If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (inc;.uding Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance pr¢~iums 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 the Funds and applicable law per::niB Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that iT~terest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest.~.to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to B0'rrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for wtiich each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage! If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance!: premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay rexes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount r~ecessary to make up the deficiency in one or more payments as Lender may require Upon payment in full of all sams sera,red by this Mortgage, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior t6 the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Mortgage. 3. Application of Payments. Unless~applicable lawprovides otherwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender firs{ in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note. - 4. Prior Mortgages and Deeds of T~USt; Charges; Liens. Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage, including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines and impositions attributable t~r~ lhe Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. ~: ~' 5. Hazard Insurance. Borrower shatl keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require and in such amounts and for such pefio,.:ts as Lender may require. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonabiy withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender and shall include a stand~rd mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and ire!'~!ewals thereof, subject to ~he terms of any mortgage, deed of trust or other security agreement with a lien which has priorky over this Mortgage. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. L~nder 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 js mailed by Lender to Borrower that ti. re insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the~ provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit dew~,lepment, 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% Security. If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding i~ commenced which materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearance_s, 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 ~ condition of making the lo:~n secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect until such ~,:ime as the requirement for such insurance terminates in accordance with Borrower's and 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 other terms of payment, such amounts shall be payable u:ooa notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall require L:mder to incur any expense or take any action hereunder. 8. Inspection. Lender may make o't' c;mse to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower nc.rice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. Wyomim ?'"¥:':<~'~':./98 Ort~linal (Race rd,?,d) C~?? :-~:.~.~.noh) Copy (Customer) .... ~,e 2 of 5 CARL J EGGLE!'/~iii ~i~ ;)ONNA A EGGLESTON i ,5~i!~ 09/07/2001 · 7 '? 9. Condemnation. The proceeds of ai:ly award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Prou~rty, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject ~19 the terms of any mortgage, deed of tnlst or other security agreement with a lien which has priority over this Mortgage. 10. Borrower Not Released; Forbeai"ance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums seii!ured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any :manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to c?mmence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization o!:ii 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 any right or remedy hereunder, or otherwise afforded by applicabi~e law, shall not be a waiver of or preclude the exercise of any such right or remedy. !' 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein contained shall bind, and the rights h?reunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragr~[ph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs this M0i:tgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage, (b) is not personally liable on the Note or under this N[ortgage, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make an.~'! other accommodations with regard to the terms of this Mortgage or the Note without that Borrower's consent and without releasing that Borrower or modifying this Mortgage as to that Borrower's interest in the Property. 12. Notice. Except for any notice re~iuired under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shgll be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Addreiils 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 i.:~ot~ce 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. ~..he state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. ;The foregoing sentence shall not limit the applicability of Federal law to this Mortgage, In the event' that any provision !)r clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of ~.his 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" inc!ilade all sums to the extent riot prohibited by applicable law or limited herein. 14. Borrower's Copy. Borrower shall:be furnished a conformed copy of the Note and of this Mortga~ 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 ~(~d deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with improvements made to the Property. 16. Transfer of the Property or a l~eneficial 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) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Mortgage. However, t~iis 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, Lenderi!~hall 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 this Mortgage. If Borrower fails to pay' these sums prior to the expiration of this period, Lender may invoke any remedies permitted by th~s Mortgage w~thout further not,ce or demand on Borrower. NON-UNIFORM COVENANTS. Bor!:ower and Lender further covenant and agree as follows: 17. Acceleration; Remedies. Excep!i: 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 sums 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 r~:quired to cure such breach; (3) a date, not less than 10 days from the date the notice is mailed to Borrower, by whicg:i such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice ma!f result in acceleration of the sums secured by this Mortgage. The notice shall further inform Borrower o!~ the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or an!.~? other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in thl~.notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be immediately due and:payable without further demand and may invoke the power of sale and any other remedies permitted by applicab!~b law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provideil in this paragraph 17, including, but not limited to, reasonable attorneys' fees. If Le~der 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 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 sale shall be applied in the following order: (a)to ali 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 l~::{ortgage; and (c) the excess, if any, to the person or persons legally entitled thereto. Wyoming 26868-4 1/98 Original {Ra~o'l:dad) Copy {Branch) Copy {Cu8tomar) Page 3 of 5 ~-~" ~ ~,,~'roN DONNA A EGGLESTON , 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach, Borrower shall .:l:mve the right to have any proceedings begun by Lender to enforce ti.tis Mortgage discontinued at any time prior to tI~i earlier to occur of (i) the fifth day before sale of the Property pursuant to the power of sale contained in this Mortgage:. or (ii) entry of a judgement enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due ufi'~aer this 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 reasonable expenses incurred by Lender ivY:enforcing the covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower 't~kes such action as Lender may reasonably require to assure that the lien of this Mortgage, Lender's interest in the Prope!'~y and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment an<:: cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if no accelerh!:]on had occurred. 19. Assignment of Rents; Appointmer, c[i::i of Receiver; Lender in Possession. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment of the Pro?~rty, ~have the right to collect and retain such rents as they become due and payable. Upon acceleration under paragraph 17 hereof or abandonment of the Property, and at any time prior to the expiration. of any period of redemption following judicial gale, Lender, in person, by agent or by judicially appointed receiver, shall be entitled to enter upon, take pOssession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, includingi~: but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Mortgage. Lender and the receiver shall be liable to account only for those rents actually received. '~': 20. Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage Without charge to Borrower. Borrower shall pay all costs of recordation, if any. 21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property. 22. Hazardous Snbstances. Borrower shall hot cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmen!:al Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities c:,f Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the,: Property. Borrower shall promptly give Lender writ~:~n notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or i'?i'!vate party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has acv:~al knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or oti~:;i~r remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take ~ill necessary remedial actions in accordance with Environmental Law. As used in this paragraph 22, "Hazardous. Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following subs~:ances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents,., materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 22, "Environmental I.:,~w" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environme'mal protection. · (Intentionally Left Blank) Wyoming 26~;~:&.;?.? Original (Recorded) Cop!~ (Bro,2ch) Copy (Customer) p,.,~. ~ of 5 CARL J EGGLt~?ii[~I i iDONNA A EGGLESTON ' :': i:')i!~ 0 9 / 0 7/2 0 01 REQUEST FOR NOTICE OF DEFA~T ~D F()~CLOS~ ~ER S~E~OR MORTGAGES OR DEEDS OF TRUST Borrower and Lender request the holdd~: of ~y mo~gage, deed of trust or other encumbr~ce with a lien which has priority over this Mo~gage to give Notice t0 Lender, at Lender's address set foah on page One of this Mortgage, with a copy to P. O. Box 17170, Baltimore, MD 2~.:203, of any default under the superior encumbr~ce and of ~y sale or other foreclosure action. IN WITNESS WHEREOF, Bo~ower ~.~s execut~ this Mo~gage. STATE OF W~OMING~_ ........................................... Coun~ ss: T~e foremg ins~ent ~ ac~owle:~ed befo~ me ~is ~¢~ 2 ~* WITNESS my h~d ~d official seal. :, ; ~/ ~1/ ./ My Co~ission expires: ,? CERTIFICATE OF DISC~RGE This certifies that a mortgage or deed of trust (as the case may be) from to ........................................................... dated ~d recorded in book ...................... }of ................................................................ on page has been ~lly satisfied by the payment of the debt secured thereby ~d is hereby fi~celed ~d discharged. BY: ~riTLE: 'FOR: Th~ undersigned notau public witnessed th~ ~xecution of this Cenificat~ of Discharge by · ...................................................... for ................................................................ on this :, day of , Nom~ Public Wyoming 268684 1/98 Original (Reoo~6,~d) Copy (BraReh) Copy (Customer) Page 5 of 5 (Space Be'.:,aw This Line Reserved For Lender and Recorder) ' , EXHIBIT A Part of Lot 1 of Section 33, T35N Rl19W of the 6th P.M., Lincoln County, Wyoming, .three tracts being more particularly described as follows: BEGINNING at a point which i:~ ii!112~A feet East from a point which is 3 rods East and 2 rods South from the Northwest come:r' ~!f said Lot 1, (this corner is known as the center intersection of the streets running north and;~C.uth, and east and west) and running thence South 8 rods; thence East 2 feet; thence North 8 rods; thence West 2 feet to the POINT OF BEGINNING. BEGINNING at the Northwest corner of said Lot 1, which is also the center of intersection of Wyoming State Secondary Highwa?, with the Idaho State Line, in Freedom, Wyoming, proceed South, 33 feet; thence East 167.5 feet to the PLAt,..E OF BEGINNING; thence South 132 feet; thence East 54 feet; .. :i. thence North 132 feet; thence West 54 feet to the POINT~ OF BEGINNING. BEGINNING at a point which is 114~,~ feet East from a point which is 3 rods East and 2 rods South from the Northwest corner of said Lot 1 (this comer is known as the center intersection of the streets running north and ~o'ath, and east and west); thence running South 8 rods; thence East 31/2 feet; thence North 8 rods; , thence West 3 V2 feet to the POINT OF BEGINNING.