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HomeMy WebLinkAbout923074 00087? THIS INSTRUMENT WAS PREPARED BY: WHEN RECORDED MAIL TO: OPTION ONE MORTGAGE CORPORATION P.O. BOX 57096 IRVINE, CA 92619-7096 ATI'N: RECORDS MANAGEMENT RECEIVED 10/412006 at 3:43 PM RECEIVING # 923074 BOOK: 635 PAGE: 872 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Loan Number: 791007426 Servicing Number: 002229541-4 MORTGAGE TillS MORTGAGE is made this 19 day of September the Mortgagor, RODNEY G JONES AND MARILYN L JONES, HUSBAND AND WIFE 2006 , between (herein "Borrower"), and the Mortgagee, H&R Block Mortgage Corporation, a Massachusetts Corporation , a corporation organized and , whose address is 01803 (herein "Lender"). WHEREAS, Borrower is indebted to Lender in the principal sum of U.S. $ 52,000.00 , which indebtedness is evidenced by Borrower's note dated September 19, 2006 ande:xten9ons and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance of indebtedness, if DOt sooner paid, due and payable on October 01, 2036 TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with 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: 36192330018800 Lot 204 in Nordic Ranches Division No. 13, Lincoln County, Wyoming as described on the official plat thereof. existing under the laws of MASSACHUSE'ITS 3 Burlington Woods, 2nd Floor, Burlington, MA This Security Instrument is subordinate to a first lien recording concurrently herewith. which has the address of ETNA 157 SPUR LOOP [City), Wyoming 83118- [Street) [ZIP Code) ("Property Address") TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances and rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together with said property (or the leasehold estate if this Mortgage is on a leasehold) are hereinafter referred to as the "Property." Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mongage, 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. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Paymeot of Principal and Imeœst. Borrower shall promptly pay when due the principal and interest indebtedness evidenced by the Note and late charges as provided in the Note. 2. Foods for Taxes and TQ!'Ik.....oœ. Subject 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, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (incl1tr WYOMING - SECOND MORTGAGE InitialS:~¿;). Page 1 of 5 WYSIM2l.wp (04-18-03) ;: tili~~;;i~~~; 000871 1)9230í' "* Loan Number: 791007426 Servicing Number: 002229541-4 Date: 09/19/06 condominium and planned unit development assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage imurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent that Borrower makes 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 imtitution the 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 the Funds to pay said taxes, assessments, insurance premiums 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 permits Lender to make such a charge. Borrower and Lender may agree in writing at the 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 any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an ammal 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 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 imtallments of Funds. If the amount of the Funds held by Lender shall oot be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fail due, Borrower shall pay to Lender any amount necessary to make up the 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 the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, DO later than immediately prior to 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 Pa}'lDCllb. Unless applicable law provide otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied in the following order (i) prepayment charges due under the Note, if any (ü) amounts payable under Section 2; (ill) interest then due under the Note; (iv) principal then due under the Note; (v) any other charges then due under or relating to the Note or Security Instrument including but not limited to late charges and non sufficient funds; (vi) any payments or premiums due for optional products that I have authorized; and (vii) the unpaid Principal balance of the Note. 4. Prior Mortgages and Deeds of Trust; OIarges; Licos. Borrower shall perform all of Borrower's obligatiom 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 payor cause to be paid all taxes, assessments and other charges, fines and impositiom attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. S. Hazard In.c:or.PICC, Borrower shall 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 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 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 and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, ~ of trust or other security agreement with a lien which has priority over this Mortgage. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. If Borrower abandom the Property, Lender may file, negotiate, and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a cWm, then Lender may negotiate and settle the cWm. The 30 day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of the unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Imtrument, whether or not then due. 6. Preservation and M.a¡'~~......~ of Ptupd1.y; J ~seboJds; CoudoIllÏnñnm:; PIaDocd UDit DevcIopmcaas. 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 provisiom of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligatiom under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulatiom of the condominium or planned unit development, and comtituent documents. 7. Protection. of Lender's Security. If Borrower fails to perform the covenants and agreements contained WYOMING - SECOND MORTGAGE Initials: no ~ Page 2 of S WYSIM2l.wp ~ \@~~~~i~~~~j~: ~~;:¡; ~~~~;m~~:~;~¡~~ p7;-;C~';~;;~ '+, ~.""'...'.'!'!1"' '.' OÔ:Ò:S'74. Ü3;G,JO~'4 Loan Number: 791007426 Servicing Number: 002229541- 4 Date: 09/19/06 WYOMING - SECOND MORTGAGE Page 3 of 5 in this Mortgage, or if any acûon or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at Lender's opûon, upon noûce to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such acûon as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condiûon of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect unûl such rime as the rèquirement 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 addiûonal indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon noûce from Lender to Borrower requesûng payment thereof, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any acûon hereunder. 8. Impection. Lender may make or cause to be made reasonable entries upon and inspecûons of the Property, provided that Lender shall give Borrower noûce prior to any such inspecûon specifying reasonable cause therefor related to Lender's interest in the Property. 9. ~tinn. The proceeds of any award or claim for damages, direct or consequential, in connecûon with any condemnaûon or other taking of the Property, or part thereof, or for conveyance in lieu of condemnaûon, are hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. 10. Bonower Not llf"leascd; Fo.rbe....ua;e By Leodcr Not a Waiver. Extension of the ûme for payment or modificaûon of amomzaûon of the sums secured 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 commence proceedings against such successor or refuse to extend rime for payment or otherwise modify amofÛzaÛon 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 any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. 11. Socttssors aud Assigm Bound; JoiDt aud Several Liability; Co-sipc:rs. The covenants and agreements herein contained shall bind., and the rights hereunder shall inure to, the respecûve 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 this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may agree to extend., modify, forbear, or make any other accommodaûons 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 noûce required under applicable law to be given in another manner, (a) any noûce to Borrower provided for in this Mortgage shall be given by delivering it or by mailing such noûce by cerûfied mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by noûce to Lender as provided herein, and (b) any noûce to Lender shall be given by cerûfied mail to Lender's address stated herein or to such other address as Lender may designate by noûce to Borrower as provided herein. Any noûce provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 13. Go~ Law; Severability. The state and local laws applicable to this Mortgage shall be the laws of the jurisdicûon 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 or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicring 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 ûme of execuûon or after recordaûon hereof. 15. JlehllhiHt.:ItinnLoan A.grecmcót. Borrower shall fulfill all of Borrower's obligaûons under any home rehabilitaûon, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's opûon, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrower may have against parries who supply labor, materials or services in connecûon with improvements made to the Property, 16. Tr.msfer of die Propdty or a Be:ncficia1 Intcrest in Bouower. 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 opûon, require immediate payment in full of all sums secured by this Mortgage. However, this opûon shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage. If Lender exercises this opûon. Lender shall give Borrower noûce of acceleraûon. The noûce shall provide a period of not less than 30 days from the date the noûce 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 expiraûon of this period, Lender may invoke any remedies permitted by this Mortgage without further noûce or demand on Borrower. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 11. Accek:r.úion; ll~~es. Except as provided in paragraph 16 hereof, upon Bonower's 1m:acb. of any COVCDaDt or agrecmcnt of Bonower in tbis Mortgage. indndi~ the covena:ots to pay when due any Initials:Í1 ()j Ù WYSIM21. wp (õfi8-õf) 0008?~ ;J92.:iOí"':¡' , Loan Number: 791007426 Servicing Number: 002229541-4 Date: 09/19/06 sums securaI by this Mortga¡e. Lcodcr prior to aa:dcration sbaIl give mtice to Borrower as provided in paragnpb. 12 hcn:of specifying: (1) the 1m:acb; (2) the action n.quiu;d to cure such 1m:acb; (3) a date. DOt less tbm 10 days from the date the DOticc is mailed to Borrower. by which such breach must be am:d; and (4) tbat failure to cure such breach on or before tile date ~fir.d in the mtice may rcsuIt in aa:dcration of the sums SCICIIR:d by this Mortpge. The mtice sbaIl fm:tber inform Borrower of the rigbt to rciostatc after aa:dcation and the rigbt to briDg court action to assert the JIOIP.ri~ of a default or any other dcfcuse of Borrower to acceleration aud sale. If the breach is DOt cured on or before the date ~fV.d in the DOticc. Lcodcr. at Lcodcr's option, may decIaIc all of the sums securaI by this Mortgage to be illllllMiJlltf"ly due aud payabJc witbout fm:tber rJe,mand aud may invoke the power of sale aud any other JP-IIIedjes ~ttPd by appIic:ahle law. Le:odcr sbaIl be c:nIit1ed to oolk:ct all reascmabIe costs aud ~ ÌIICumXI in pursuin& the ~es provided in this panpaph 17. inclndÜ1g. bot not limited to. reascmabIe attorneys' fees. If Lender invokes tile power of sale. Lender sbaIl give DOtice of iutcot to fom:losc to Borrower aud to the person in possession. of tile Pro(Xati. if diffi:rcot. in accmdaDce with appIir..ahl~ law. Lcodcr sbaIl m:ól a copy of a DOtice of the sale to Borrower in the maœc:r provided in pangra¡B 12 hereof. Le:odcr sbaIl publish the DOtice of sale aud the J».updty sbaIl be sold in tile maœc:r pICSCribe by applicable law. Lcodcr or Lender's rkiV- may purchase the Propé11:y' at any sale. The proccc:ds of the sale sbaIl be applied in the following oIder: (a) to all rcasouablc oosts aud cxpcœes of the sale. inclndiqg, but not limited to. rcasouable attorneys' fees aud costs of title cvidcoœ; (b) to all sums SCICIIR:d by this Mortgage; aud (c) the excess if any, to the person or persom legally cotitIed tbcreto. 18. Borrower's Right to Jboinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to the earlier to occur of (i) the fifth day beforè sale of the Property pursuant to the power of sale contained in this Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due under 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 in 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 takes such action as to 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 this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred. 19. A~~ of Rents; Appoiutmeut of RfCciver. 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 Property, 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 sale, 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 the receiver shall be applied first 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 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 Ho~. Borrower hereby waives all right of homestead exemption in the Property. 22., Lost, Stolen, Destroyed or Mutilated Security h.:i.ttuuEUt aud Other Documents. In the event of the loss, theft or destruction of the Note, any other notes secured by this Security Instrument, the Security Instrument or any other documents or instruments executed in connection with the Security Instrument, Note or notes (collectively, the "Loan Documents "), upon Borrower's receipt of an indemnification executed in favor of Borrower by Lender, or, in the event of the mutilation of any of the Loan Documents, upon Lender's surrender to Borrower of the mutilated Loan Document, Borrower shall execute and deliver to Lender a Loan Document in form and content identical to, and to serve as a replacement of, the lost, stolen, destroyed, or mutilated Documents, and may be treated for all purposes as the original copy of such Loan Document. 23. Riders to this Security ~uuEUt. If one or IIIOre riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es») D Adjustable Rate Rider o No Prepayment Penalty Option Rider D Other(s) (specify) D Condominium Rider o Planned Unit Development Rider D 1-4 Family Rider o Occupancy Rider WYOMING - SECOND MORTGAGE Page 4 of 5 Initials dO fY\Jn WYSIM21.wp ~ im~~~~lmr¡;: ~r~: n7.;:;;;~ ¡:' ~r~::¡1 h'/;~""; >:,;q!\!~t, ~~!LI~!k!~ f;!::1' l.:r~;;¡: ~. " I ç.: ~..., , . " ~t Loan Number: 791007426 Servicing Number: 002229541- 4 Date: 09/19/06 REQUEST FOR NOTICE OF DEFAULT AND FOREaDSURE UNDER. SUPERIOR MORTGAGES OR DEEDS OF TRUSf 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 encumbrance and of any sale or other foreclosure action. IN WITNESS WHEREOF, Borrower has executed this Mortgage. A7" <h- RODNEY JO~S (Seal) -Borrower (Seal) -Borrower maJ\ _ ~ ~ MARILYN ~ JONES (Seal) -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower . -Borrower (Sign Original Only) Sf ATE OF WYOMING, L;I1l.o " Couuty ss: The foregoing instIUmeDt was acknowledged before me this I ~~ ~ S~ty) ~ 2.Db' My Commission Expires: ~ 2.'J '2-006. by ~~ f:x:;. ~~ a,.J. ~~l~~ L. Jðn~s LAYNA HADERUE - NOTARY PUBlIC State of a below This Line Reserved For Lender and Recorder! My Commiselon Expires 26, 2008 WYOMING - SECOND MORTGAGE Page 5 of 5 WYSIM2l.wp (04-18-03)