HomeMy WebLinkAbout919076
60389
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After Recording Return To:
THE JACKSON STATE BANK
& TRUST
P.O. BOX 1788
JACKSON, WYOMING 83001
Prepared By: Jeff Carlyle
RECEIVED 6/6/2006 at 9:44 AM
RECEIVING # 919076
BOOK: 622 PAGE: 393
JEANNE WAGNER
LINCOLN COUNTY CLERK; KEMMERER, WY
MIN#l00015700067977427
PARCEL NO.:
LOAN NO.: 119292348
TITLE NO.:
[Space Above This Line For Recording Data]
MORTGAGE
(Line of Credit)
THIS MORTGAGE, dated MAY 30 , 2006 , is between
EMMETT MA VY AND ROMINA MAVY, HUSBAND AND WIFE
residing at 468 Greys River Loop
Alpine, WYOMING 83128
the person or persons signing as "Mortgagor(s)" below and hereinafter referred to as "we" or "us" and
THE JACKSON STATE BANK & TRUST, A WYOMING BANKING CORPORATION
with an address at
P.O. BOX 1788; JACKSON, WYOMING 83001
and hereinafter referred to as "you" or the "Mortgagee."
MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby mortgage, grant
and convey to you the premises located at:
468 Greys River Loop
Street
-/D
, l
Alpine
Lincoln
State
Municipality
83128
ZIP
County
WYOMING
(the "Premises')
and further described as:
LOT 6, GREYS RIVER VILLAGE ADDITION TO THE TOWN OF ALPINE, WITHIN THE NWl/4SWl/4
OF SECTION 28 AND NEI14SEl/4 OF SECTION 29, T37N, R118W, ACCORDING TO THAT PLAT
FILED IN THE OFFICE OF COUNTY CLERK, LINCOLN COUNTY, WYOMING.
Initials
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. HELOC - WY Mortgage
FE-3131(WY) (0303)
Page 1 of 4
ORIGINAL
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The Premises includes all buildings and other improvements now or in the future on the Premises and all rights
and interests which derive from our ownership, use or possession of the Premises and all appurtenances thereto.
LOAN: The Mortgage will secure your loan in the principal amount of $
thereof as may be advanced and readvanced from time to time to
Romina Mavy
Emmett Mavy
70,000.00
or so much
, and
the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated
MAY 30, 2006 , plus interest and costs, late charges and all other charges related to the
loan, aU of which sums are repayable according to the Note, This Mortgage will also secure the perfonnance of
aU of the promises and agreements made by us and each Borrower and Co-Signer in the Note, aU of our
promises and agreements in this Mortgage, any extensions, renewals, amendments, supplements and other
modifications of the Note, and any amounts advanced by you under the terms of the section of this Mortgage
entitled "Our Authority To You." Loans under the Note may be made, repaid and remade from time to time in
accordance with the terms of the Note and subject to the Credit Limit set forth in the Note.
OWNERSHIP: We are the sole owner(s) of the Premises. We have the legal right to mortgage the Premises to
you.
BORROWER'S IMPORTANT OBLIGATIONS:
(a) TAXES: We will pay all real estate taxes, assessments, water charges and sewer rents relating to the
Premises when they become due, We wiU not claim any credit on, or make deduction from, the loan under the
Note because we pay these taxes and charges. We will provide you with proof of payment upon request.
(b) MAINTENANCE: We will maintain the building(s) on the Premises in good condition, We will not
make major changes in the building(s) except for normal repairs. We will not tear down any of the building(s)
on the Premises without first getting your consent. We will not use the Premises illegally. If this Mortgage is on
a unit in a condominium or a planned unit development, we shall perform all of our 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.
(c) INSURANCE: We will keep the building(s) on the Premises insured at all times against loss by fire,
flood and any other hazards you may specify. We may choose the insurance company, but our choice is subject
to your reasonable approval. The policies must be for at least the amounts and the time periods that you specify.
We will deliver to you upon your request the policies or other proof of the insurance. The policies must name
you as "mortgagee" and "loss-payee" so that you will receive payment on all insurance claims, to the extent of
your interest under this Mortgage, before we do, The insurance policies must also provide that you be given not
less than 10 days prior written notice of any cancellation or reduction in coverage, for any reason. Upon
request, we shall deliver the policies, certificates or other evidence of insurance to you. In the event of loss or
damage to the Premises, we will immediately notify you in writing and file a proof of loss with the insurer. You
may file a proof of loss on our behalf if we fail or refuse to do so. You may also sign our name to any check,
draft or other order for the payment of insurance proceeds in the event of loss or damage to the Premises. If you
receive payment of a claim, you will have the right to choose to use the money either to repair the Premises or
to reduce the amount owing on the Note.
(d) CONDEMNATION: We assign to you the proceeds of any award or claim for damages, direct or
consequential, in connection with any condemnation or other taking of the Premises, or part thereof, or for
conveyance in lieu of condemnation, all of which shall be paid to you, subject to the terms of any Prior
Mortgage.
(e) SECURITY INTEREST: We will join with you in signing and filing documents and, at our expense, in
doing whatever you believe is necessary to perfect and continue the perfection of your lien and security interest
in the Premises.
(f) OUR AUTHORITY TO YOU: If we fail to perform our obligations under this Mortgage, you may, if
you choose, perform our obligations and pay such costs and expenses. You will add the amounts you advance to
the sums owing on the Note, on which you will charge interest at the interest rate set forth in the Note. If, for
example, we fail to honor our promises to maintain insurance in effect, or to pay filing fees, taxes or the costs
necessary to keep the Premises in good condition and repair or to perform any of our other agreements with
you, you may, if you choose, advance any sums to satisfy any of our agreements with you and charge us interest
on such advanc~s at the interest rate set forth in the Note. This Mortgage secures all such advances. Your
payments on oui behalf will not cure our failure to perform our promises in this Mortgage. Any replacement
insurance that you obtain to cover loss or damages to the Premises may be limited to the amount owing on the
Note plus the amount of any Prior Mortgages.
Initials
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LOAN NO.: 119292348
. HELOC . WY Mortgage
FE ·3131 (WY) (0303)
Page 2 of 4
ORIGINAL
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(g) PRIOR MORTGAGE: If the provisions of this paragraph are completed, this Mortgage is subject and
subordinate to a prior mortgage dated and given by us to
Option One Mortgage Corporation
as mortgagee, in the original amount of 157,500.00 (the "Prior Mortgage"). We shall not
increase, amend or modify the Prior Mortgage without your prior written consent and shall upon receipt of any
written notice from the holder of the Prior Mortgage promptly deliver a copy of such notice to you. We shall
pay and perfonn all of our obligations under the Prior Mortgage as and when required under the Prior
Mortgage.
(h) HAZARDOUS SUBSTANCES: We shall not cause or pennit the presence, use, disposal, storage, or
release of any Hazardous Substances on or in the Premises. We shall not do, nor allow anyone else to do,
anything affecting the Premises that is in violation of any Environmental Law. The preceding two sentences
shall not apply to the presence, use, or storage on the Premises of small quantities of Hazardous Substances that
are generally recognized to be appropriate to nonnal residential uses and to maintenance of the Premises. As
used in this paragraph, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum
products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fonnaldehyde, and
radioactive materials. As used in this paragraph, "Environmental Law" means federal laws and laws of the
jurisdiction where the Premises are located that relate to health, safety or environmental protection.
(i) SALE OF PREMISES: We will not sell, transfer ownership of, mortgage or otherwise dispose of our
interest in the Premises, in whole or in pali, or permit any other lien or claim against the Premises without your
prior written consent.
U) INSPECTION: We will pennit you to inspect the Premises at any reasonable time.
NO LOSS OF RIGHTS: The Note and this Mortgage may be negotiated or assigned by you without releasing us
or the Premises. You may add or release any person or property obligated under the Note and this Mortgage
without losing your rights in the Premises.
DEFAULT: Except as may be prohibited by applicable law, and subject to any advance notice and cure period
if required by applicable law, if any event or condition described in Paragraph 12.A. of the Note occurs, you
may foreclose upon this Mortgage. This means that you may arrange for the Premises to be sold by
advertisement and sale or by judicial foreclosure, at your option, as provided by law, in order to payoff what
we owe on the Note and under this Mortgage, If the money you receive from the sale is not enough to payoff
what we owe you, we will still owe you the difference which you may seek to collect from us in accordance
with applicable law. In addition, you may, in accordance with applicable law, (i) enter on and take possession of
the Premises; (ii) collect the rental payments, including over-due rental payments, directly from tenants after
simply notifying them first class mail to make rental payments to you; (iii) manage the Premises; and (iv) sign,
cancel and change leases. We agree that the interest rate set forth in the Note will continue before and after a
default, entry of a judgment and foreclosure. In addition, you shall be entitled to collect all reasonable fees and
costs actually incurred by you in proceeding to foreclosure, including, but not limited to, reasonable attorneys
fees and costs of documentary evidence, abstracts and title reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the
rents of the Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take possession
of and manage the Premises and collect the rents of the Premises including those past due after simply notifying
them by first class mail to make rental payments to you.
WAIVERS: To the extent pennitted by applicable law, we waive and release any error or defects in proceedings
to enforce this Mortgage and hereby waive the benefit of any present or future laws providing for stay of
execution, extension of time, exemption from attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this
Mortgage. Until the Note has been paid in full and your obligation to make further advances under the Note has
been tenninated, the provisions of this Mortgage will be binding on us, our legal representatives, our heirs and
all future owners of the Premises. This Mortgage is for your benefit and for the benefit of anyone to whom you
may assign it. Upon payment in full of all amounts owing to you under the Note and this Mortgage, and
provided any obligation to make further advances under the Note has tenninated, this Mortgage and your rights
in the Premises shall end.
LOAN NO.: 119292348
Initials
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. HELOC - WY Mortgage
FE-3131(WY) (0303)
Page 3 of 4
ORIGINAL
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NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any notice to
us provided for in this Mortgage shall be given by delivering it or by mailing such notice by regular first class
mail addressed to us at the last address appearing in your records or at such other address as we may designate
by notice to you as provided herein, and (b) any notice to you shall be given by certified mail, return receipt
requested, to youf address at
THE JACKSON STATE BANK & TRUST
P.O. BOX 1788; JACKSON, WYOMING 83001
or to such other address as you may designate by notice to us, Any notice provided for in this Mortgage shall be
deemed to have been given to us or you when given in the manner designated herein,
RELEASE: Upon payment of all sums secured by this Mortgage and provided your obligation to make further
advances under the Note has terminated, you shall discharge this Mortgage without charge to us, except that we
shall pay any fees for recording of a satisfaction of this Mortgage.
GENERAL: You can waive or delay enforcing any of your rights under this Mortgage without losing them.
Any waiver by you of any provisions of this Mortgage will not be a waiver of that or any other provision on any
other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above written.
WITNESS:
~~~
Mortgagor: Romina Mavy
(SEAL)
~~,~
Mortgagor: Emmett Mavy --
(SEAL)
(SEAL)
Mortgagor:
(SEAL)
Mortgagor:
STATE OF WYOMING, Lincoln
County ss:
The foregoing instrument was acknowledged before me this
Romina Mavy AND Emmett Mavy
by
6!~\/Oq
(date)
(person acknowledging)
My Commission Expires: ~ 3/:;1?/ Cf1
Notary Public
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COUNTY OF STATE OF ¡
TETON WfOMING ¡
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LOAN NO.: 119292348
. HELOC . WY Mortgage
FE-3131(WY) (0303)
Page 4 of 4
ORIGINAL
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