HomeMy WebLinkAbout875959 CITI FINA_NCIAL
IDAHO FALLS ID 83403
OL. EF k
~"B .OOK~.~_~t/~_PR PAGE
=.[ MORTGAGE]
THIS MORTGAGEis made this Z0t:h day of September , 20ol , between the Mortgagor,
KIRBY D LUTHI i~uND GERALDINE LU?.:'HItHUSBAND JMN]D WIFE
: (herein "Borrower
and the Mortgagee,, CITIFINANCIAL, INC.
a corporation organized and existing under the laws of Maryland , whose
address is CITIFINANCIAL IDAHO FALLS ID 83403 (herein
"Lender").
WHEREAS, Borrower is indebted to i..ender in the Principal sum of U.S. $ 15,2 6 7.14 , which indebtedness
is evidenced by Borrower's note dated 09/!10/2001 and extensions and: renewals thereof (herein "Note"), providing
for monthly installments of principal and imerest, with the balance of indebtedness, if not sooner paid, due and payable
on 09/20/2011 ; , ·
TO SECURE to Lender the repa. yment 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 Lender, with power of sale, the following described property located in the
County of LINCOLN , State of Wyoming:
****SEE ATTACHMENT "A"****
which has the address of 1138 S~ATELII'?:E RD 12 114 FREEDOM
Wyoming 8312 0 (herein "Property ~kddress");
TOGETHER with all the improver.',ents 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 sa{:l property (or the leasehold es'me if this Mortgage is on a leasehold) are
hereinafter referred to as the "Property."
Borrower covenants that Borrower is lawfully seised of the estate her,?by qonveyed and has the right to mortgage,
grant and convey the Property, and that the Property is unencumbered, ex6ept 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 (Recozded) Copy (Branch) iCopy (Customer) Page 1 of 5
*****ATI'A~ MOI~?I~.G~ KTRB¥ D LUTHI-~ JERALDINE LUTHI*****
l:)a~e Sept ~0~ 200~'
A portion, of the'SE1/4SW1/4 (Lot 4) of Section 21, T35N, RI19W,
6th P.M., located. North of Freedom, Lincoln County, Wyoming,
being more particularly' described as follows:
BEGINNING at a point in the West line of said ~e~tion 21, said
point being No=th 80~1.~0 feet from the Southwest Corner of said
Section 21; thence SCluth running S89 32'42"E, parallel with the
South line- of said S~iC=ion 21, 370.00 feet; thence South,
parallel with said West line, 136.13 feet; thence N89 32'42"W,
370.00 feet to said ~?est line; thence North along said West line
136.13 feet to the P¢i:!int of Beginning.
1%3_t(~X [~U'i'H_L JERALDINE LUTHI
~ 09/10/2001
UNIFORM COVENANTS. Borrower
1. Payment of Principal and Inter,~. Borrower shall promptly pay when due the principal and interest
indebtedness evidenced by the Note and late ::ha;rges as provided in the Note.
2. Funds for Taxes and Insurance. ~ui)¢ect to applicable law or a written waiver by Lender, Borrower shall pay to
Lender on the day monthly payments of prin.:i}':;al and interest are payable under the Note, until the Note is paid in full, a
sum (herein "Funds") equal to one-twelfth c' [ ihe yearly taxes and assessments (including condominium and ~planned unit
development assessments, if any) which maTM a':~'tain Priority over this Mortgage and ground rents on the Property, if any,
plus one-twelfth of yearly premium installm~:nt:!~, for hazard insurance, plus one4welfth of yearly premium installments for
mortgage insurance, if any, all as reasom.i:~l?i 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 maki;s ~iuch 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,I shall be held in an institution the deposits or accounts of which are insured
or guaranteed by a Federal or state agency (b:~cluding Lender if Lender is such an institution). Lender shall apply the Funds
to pay said taxes, assessments, insurance pr~ miams and ground rents. Lender may not charge for so holding and applying
the Funds, analyzing said account or verif}.ing and compiling said assessments 'and bills, unless Lender pays Borrower
interest on the Funds and applicable law pen ,fits Lender to make such a charge. Borrower and Lender may agree in writing
at the time of execution of this Mortgage tha~ 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 any interest or
earnings on the Funds. Lender shall give to 'Bm:rower, without charge, an annual accounting of the Funds showing credits
and debits to the Funds and the purpose for which 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 ~equired to pay said
taxes, assessments, insurance premiums and g;::ound rents as they fall due, such excess shall be, at Borrower's option,
either promptly repaid to Borrower or credit~.~d ~:~ Borrower on monthly installments of Funds. If the amount of the Funds
held by Lender shall not be sufficient to paY taxes, assessments, insurance premiums and ground rents as they fall due,
Borrower shall pay to Lender any amount nece, Ssary to make up the deficiency in one or more payments as Lender may
require.
Upon payment in full of all sums securec by this Mortgage, Lender shall promptly refund to Borrower any Funds
held by Lender. If under paragraph 17 here(if tile Property is sold or the Property is otherwise acquired by Lender, Lender
shall apply, no later than immediately prim to ;the sale of the Property or its acquisition by Lender, any Funds held by
Lender at the time of application as a credit ~igainst the sums secured by this Mortgage.
3, Application of Payments. Unless. applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof.shall be~pplied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof, then to interest payaN.:e on the Note, and then to the principal of the Note.
4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
under any mortgage, deed of trust or other s~:cui:ity 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 ti:~ tee Property which may attain a priority over this Mortgage, and leasehold
payments or ground rents, if any.
5. Hazard Insurance. Borrower sh~i:.l keep the improvements now existing or hereafte~ 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 periods 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 unreasonab!y withheld. All insurance policies and renewals thereof shall be in a form
acceptable to Lender and shall include a star.'~ard mortgage clause in favor of and in a form acceptable to Lender. Lender
shall have.the right to hold the policies and ?'effewals thereof, subject to the terms of any mortgage, deed of trust or other
security agreement with a lien which has pri¢>ritv over this Mortgage.
In the event of loss, Borrower shall give ~rompt 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 Borrowex:, 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
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 O[ i{:'roperty; Leaseholds; Condominiums; Planned Unit Developments.
Borrower shall keep the Property in, good repak: and shall not commit waste or permit impairment or deterioration of the
Property and shall comply with the provisions C,:.[ any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit
in a condominium or a planned unit dew:lopment, Borrower shall perform all of Borrower's obligations under the
declaration or covenants creating or governi~g the condominium or planned unit development, the by-laws and regulations
of the condominium or planned unit develop~nenC, and constituent documents.
7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is: ccmmenced which materially affects Lender's interest in the Property, then
Lender, at ,Lender's option, upon notice ~:o Borrower, may make such appearances disburse such sums, including
reasonable attorneys' fees, and take such acl'i.on as is necessary to protect Lender's interest. 'If Lender required mortgage
insurance as a'condition of making the lot..n secured by this Mortgage, Borrower shall pay the premiums required to
maintain such insurance in effect until suc!.: time as the requirement for such insurance terminates in accordance with
Borrower's and Lender's written agreement ~tr applicable law.
Any amounts disbursed by Lender pur.;uant to this paragraph 7, with interest thereon, at the Note rate, shall become
additional indebtedness of Borrower secur(d ~.:y this Mortgage. Unless Borrower and Lender agree to other terms of
payment, such amounts shall be payable u.?or, notice from Lender to Borrower requesting payment thereof. Nothing
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 no:ice prior to any such inspection specifying reasonable cause therefor related to
Lender's interest in the Property.
Original (Reco~:ded) Cc '=.'~ · tnch) Copy (Customer) '~ -,~e 2 of 5
KIRBY LLITHI?i:~,i:.'iT, : ::,DINE LUTHI : : , :,.
' 804
9. Condemnation. The proceeds of ?,ny award or claim for damages, direct or consequential, in connection wi~h
any conde~afion or other takin~ of ~h~ Prc;p~rty, or pa~ thereof, or for conveyance in lieu of condemnation, are hereby
assigned and shall be paid m Lend,r, subject
lien which has priority over this Mortgage.
10. Borrower Not Rel~sed; Forbe~r~nce By Bender Not a Waiver. Extension of the time for paymem or
modification of amortization of the sums s~cured by this Mortgage granted by Lender to any successor in imeres~ of
Borrower shall not operme ~o release, in any ~)a~er, the liability of ~he original Borrower and Borrower's successors in
interest. Lender shall not be required ~to 'commence proceedings agains~ such successor or r~s~ ~o ex~end time for
p~yment or otherwis~ modify .amortization c4 fl~e sums secured by ~his Mortgage by reason of any demand made by ~he
original Borrower and Bo~ower's successors i:~ interest. Any forbearance by Lender in ex~rcising any right or remedy
hereunder, or otherwise afforded by applicable law, shall not be a' waiver of or predud~ ~he exercise of any such ri~h~ or
remedy.
11. Snec~sors and Assigns Bonnd;:.J(~int and Several Liability; Co-signers. The coven~ts and a~reements
herein contained shall bind, ~nd the rights her~:.~under shall inure to, ~he respective su¢cessors and assigns of Lender and
Borrower, subject to the provisions of Fara~aI'~h 16 hereof. All covenants ~d agreements of Borrower shall be ]oim and
s~veral. Any Borrower who co-signs ~his M~'~rtga~e, but do~s not execute the No~e,
mortgage, grant and convey that Borrower'~ m:.;~rest in ~he Prope~y to Lender under ~he ~e~s of this Mortgage, (b) is not
personally liabl~ on ~he No~ or under this ~ ~Io~a~e, ~d (c) a~rees tha~ Lender and any o~her Borrower h~reunder may
agree ~o extend, modify, forbear, or ma~o an:~ ~;~ther acco~odafions with re~ard m the terms of this Mor~g~ or ~he Note
without ~ha~ Borrower's consent ~nd without ~:~eleasing ~hat Borrower or modifying this Mortgage as ~o ~hat Borrower's
in~eres~ in ~he Proper~y..~' ~.
1~. Notice. Excep~ for any notice re'~:~u'~red under applicable law
Borrower provided for in this Mo~gage s~,a'~l be given by deliverin~ it or by mailin~ such notice by certified mail
addressed to Borrower m the Property Addr~?~: or at such other ~ddre~ as Borrower may designate by notice lo Lender ~s
provided her~in, ~d (b) any notice m Lend~',~r ~Shall be given by certified mail m Lender's address stated herein or to such
other address as Lender may designato by~h0tice to Borrower as provided herein. Any no,ice provided for in this
Mortgage shall be d~em~d m have been ~iwn' fi~ Borrower or Lender when ~iven in the m~er desi~nmed herein.
13. Governing Law; Severabili~y. "1;'~ state and lo~al laws applicable m this Mor~gag~ shall b~ ~h~ laws of the
jurisdiction in which the Proper~y is located." The foregoin~ sentence shall no~ limit ~he applicabilky of Federal law m ~his
Mo~a~e. In ~h~ even~ ~ha~ any provisions,or clause of ~his Mort~ag~ or ~he No~ conflicts wi~h applicable law, such
conflict shall not affect other provisions of' ;his Mortgage or ~he Note which can be ~iven effect wi~hom ~he conflictin~
provision, and to this end the provisions o5 this Mortgage and the Note ~re declared to be sewrable. As used herein,
"costs", "expenses" and "a~tomeys' fees" in~k~de all sums to the exten~ not prohibited by applicable law or limited h~rein.
14. Borrower's Copy. Bo~ower sha?~ ~be ~rnished a ~onfo~ed copy of the No~e and of this Mort~ago m th~ time
of ~xeeution or afmr recordation hereof.
15. Rehabilitation Loan A~reemer~ Borrower shall ~lfill all of Borrower's obligations under ~y hom~
rehabilitation, improvemem, repair, or o~her k~an a~mem~m which Borrower ~mers into wi~h Lender. Lender, m Lender's
option, may require Borrower to execme a~ff deliver to Lender, in a fo~ acceptable to Lender, an assistant of any
rights, claims or defenses which Borrower m~i~ have a~ains~ pa~i~s who supply labor, mmerials or semites in connection
with improvements made ~o ~he Property.
16. Transfer of the ~operty or a B~neficial Interest in Borrower. If all or any part of ~he Property or any
interes~ in it is sold or ~ransferred (or if
natural person) without Lender's prior writteg consent, Lender may, at i~s option, require i~edime payment in ~11 of all
sums secured by ~his Mortgage. However, th~[~ option shall not be exercised by Lender if exercise is prohibited by federal
law as 0f the date of this Mo~gage. ~':.
If Lender exercises this option, Lender ::~2hall give Borrower notice of acceleration. The notice shall provide a period
of not less than 30 days from the date the nc,:~!ce is delivered or mailed within which Borrower must pay all sums secured
by this Mortgage. If Borrower fails to pa'~¢ these sums prior to the expiration of this period, Lender may invoke ~y
remedies per~tted by this Mo~gage withoul~ ]~rther notice or demand on Borrower.
NON-UNIFORM COVENANTS. Bor?wer ~d Lender ~rther coven~t ~d agree as follows:'
17. Acceleration; Remedi~. Excep'~;~:as provided in paragraph 16 hereof~ upon Borrower's breach of any
covenant or agreement of Borrower in thi~ Mo~gage, including the covenants to pay when due any sums secured by
this Mortgage, Lender prior to aceeleral~:.°n shall give notice to Borrower as provided in paragraph 12 hereof
specifying: (1) the brmch; (2) the action r{? iuired to cure such brach; (3) a date, not l~s than 10 days from the date
the notice is mailed to Borrower, by whict~:such brach must be cured; and (4) that failnre to cure such breach on or
before the date specified in the notice ma~,;' result in acceleration of the sums secured by this Mortgage. The notice
shall further inform Borrower of, the rigi~t to reinstate after acceleration and the right to bring a cou~ 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 th~'~ notice, Lender at Lender% option may declare all of the sums secured by
this Mortgage to be immediately due and payable without fnrther demand and may invoke the power of sale and
any other remedi~ permitted by applieab~:e law. Lender shall be entitled to collect all r~sonable costs and expens~
incurred in pursuing the remedi~ provided~ in this paragraph 17, including, but pot limited to, r~sonable attorneys~
fees.
If Le~der invok~ the power of sale": Lender shall give notice of intent to foreclose to Borrower and to the
person in poss~sion of the Prope~y, if d[~ferent, in accordance with applicable law. Lender shall mail a copy of a
notice of the sale to Borrower iu the .mann~:r provided in paragraph 12 her~f. Lender shall publish the notice of sale
and the Property shall be sold in the m~mner pr~cribed by appli~ble law. Lender or Lender's designee may
purchase the ~ope~y at any sale. The Proceeds of the sale shall be applied in the following order: (a) to all
reasonable costs and expens~ of the sale,, including, but not limited to, r~sonable attorneys' fe~ and cos~ of title
evidence; (b) to all sums secured by this M~rtgage; and (c) the exc~s, if any, to the person or persons lqally entitled
thereto.
Wyoming 26868-4 1/98 . Original (Reco'::ded). Copy (Branch) Copy (Customer) Page 3 of 5
~.IR~Y LUTHI JERALDINE LUTHI
18. Borrower's Righl to Reinstate. N:Stwithstanding Lender's acceleration of the sums secured by this Mortgage
due to Borrower's breach, Borrower shall, hav~ th~ right to haw any proceedings begun by Lender to enforc~ this
Mortgage discontinued at ~y time prior to ti~e earlier to occur of (i) the fifth day before sale of the Property pursu~ to
the power 0f sale contained in this Mo~gag~ 9r (ii) entw of a judgement enforcing this Mortgage if: (a) Borrower pay~
Lender all sums which would be then due u~der this Mortgage and the Note had no acceleration occu~ed; (b) Borrower
cures all breaches of any other covenants o:: agreements of Bonower contained in this Mortgage; (c) Borrower pays all
reasonable expenses incurred by Lender i::~., enforcing the covenants ~d agreements of Borrower contained in this
Mortgage, and in enforcing Lender's rem.~:dles as provided in paragraph 17 hereof, including, but not limited to,
reasonabl~ attorneys' fees; ~d (d) Borrow~"t~kes such action as Lender may reasonably r~quire to assure that the lien of
this Mortgage, Lender's interest in the Propd:t~ and Borrower's obligation to pay th~ sums secured by this Mo~gag~ shall
continu~ unimpaired. Upon such payment aild;~.~ure, by Borrowor, this Mo~gage ~d the obligations secured hereby shall
remain in full fore= and effect as if no accele~'~t'~bn had occurred.
19. ~signment of Ren~; ApPointmeat~'of Receiver; Lender in Poss~sion. As additional security hereunder,
Borrower hereby assigns to Lender the rents oi:.the Property, provided that Borrower shall, prior to acceleration under
paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and
p~yabl~.
Upon acceleration under paragraph 17 he~"e6f or ab~doment of the Property, and at any time prior to the expiration
of any period of redemption following judicia; s~le, Lender, in person, by agent or by judicially appointed receiwr, shall
be entitled to enter upon, tak~ possession of ".:(n?5 manage the Property and to collect the rents of the Property including
those past due. All rents collected by Lender o':
the Property and collection of rents, including~ but not limited to, recoiver's fees, pre,urns on receiver's bonds ~d
reasonable attorneys' fees, and then to th~ s~.:'.~.s secured by this Mgrtgag~. L~nder ~d the receiver shall be liable to
account o~y for thoso rents actually received.
~0. Rel~se. Upon payment of all sums secured by this Mo~gage, Lender shall releas~ this Mortgago without charge to
Borrower. Borrower shall pay all costs of record{.tion, if any.
21. Waiver of Hom~tead. Borrower hereby Waives all right of homestead exemption in the Property.
22. Hazardous Substance. Borrower shall
m~t~ Cause or pe~t the presence, use, disposal, storage, or release of any
Hazardous Substances on or in the Prope~. B6~rrower. shall not do, nor allow anyone else to do, anything affecting the
Prope~y that is in violation of ~y Enviromenta~ Law. The preceding two sentences shall not apply to the presence, use,
or storag~ on the Property of small quantiti~s.ofHazardous Substances that are gener~ly recognized to be appropriate to
no~al r~sidenti~ uses and to mainten~ee of Ibc'Property.
Bo~ower shall promptly give Lender w~'i~n notice of ~y investigation, claim, dem~d, lawsuit or other action by
any gove~ental or regulatory agency or p~Nate pa~y involving the Property ~d any Hazardous S~bst~ce or
Enviromental Law of which Borrower has a~'mal ~owledge. If Borrower learns, or is notified by any governmental or
regulatory authority, that any removal or ¢~her remediation of any Hazardous Substance affecting the Property is
necessary, Bo~ower shall promptly take all necessary remedial actions in accord~ce with Enviromental Law.
As used in this paragraph 22, ' ' Substances"
Hazardou: are thos~ subst~ees defined as toxic or hazardous substances
by Environmental Law and the following su~itances: gasoline, korosene, other fl~able or toxic petroleum products,
toxic pesticides and herbicides, volatile solvems, materials containing asbestos or lo,aldehyde, and radioactiw materials.
As used in this paragraph 22, "Enviromental' E~w" means federal laws ~d laws of the jurisdiction where the Property is
located that relate to health, safety or enviro~:.:,mtal protection.
<~Intentionally Left Bla~)
Wyoming 2,~;g-.~:~-..%'98 Original (Recol ~e'd) Co:,,,-.t~5,~nch) Copy (Customer) P ,~e 4 of 5
REQUEST FOR NOTICE OF DEFAULT
AND i?ORECLOSURE UNDER SUPERIOR ..
M£?R~,!GAGES OR DEEDS OF TRUST
Borrower and Lender request the hold~? oi~ any mortgage, deed of trust or other encumbrance with a lien which has
priority over this Mortgage to give Notice tCj Limder, at Lender's address set forth on page one of this Mortgage, with a
copy to P. O. Box 17170, Baltimore, MD 2[~2C3, of any default under the superior encumbrance and of any sale or other
foreclosure action. '
IN WITNESS WHEREOF, Borrower has'.i~xecuted this Mortgage.
STATE OF WYOMING ........... lt~ -~j..,~ } .......................................... County ss:
The foregoing instrument was acknowl~lged before me this ....
....................... , ~i Lperson ac[nowleaglng]
WITNESS my hand and official seal.
~y tomato, ~p~'~ ~. ~4. ~ d ERTIFIOATE OF DISCHARGE
This certifies that a mortgage or deed of trust 0xs the case may be) from
dated
~d recorded in book · ~of .... on page .............
has been ~lly satisfied by the payment of th~'~ebt secured thereby and is hereby canceled ~d discharged.
'TITLE:
The ~dersigned notary public witnessed the.execution of this Certificate of Discharge by'
........................................................................ ~::~ for .......................................................... on this
day of ............................................................ , .......
Notary Public
Wyoming 26868-4 1/98 Original {Reeo~ed) eop~ {Branoh) Copg {Customer) Page 5 of 5
(Space Bt)ow This Line Reserved For Lender and Recorder)