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HomeMy WebLinkAbout914003 - - _n'-'r~o '..' ',.~ '.} .¿t V RECEIVED 11/28/2005 at 3:09 PM RECEIVING # 914003 BOOK: 606 PAGE: 30 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY .%~~. . r i? /-;17 Ig- TWs fi'4orh§fJ.ge MIN 1000697-8250032707-6 ø -(/4~UJ:¡ IfO«T .1£ \J --",- When recorded mail to: FIRST AMERICAN TITLE INSURANCE 1228 EUCLID A VENUE, SUITE 400 CLEVELAND, OHIO 44115 A TTN: FT1120 SPACE ABOVE THIS LINE FOR RECORDER'S USE Ç/4!l~gÇI **** Closed End Loan No.: 0327072 Branch No.: 716 Loan Product: BR Closed End HE Second 80% CLOSED END MORTGAGE THIS MORTGAGE is made this 20th day of October, 2005, among the Trustor, Richard Scott Woodford And Jennifer Woodford whose address is 1105 Mountain Dell Circle, Afton, Wyoming 83110 (herein "BolTower"), and the Mortgagee, GMAC Mortgage Corporation, a Pennsylvania Corporation, 100 Witmer Road, Horsham, PA 19044-0963 (herein "Lender") and the Mortgage Elech'onic Registration Systems, Inc., P.O. Box 2026, Flint, MI 48501-2026 ("MERS") acting solely as nominee for Lender and Lender's successors and assigns under this Mortgage. WHEREAS, Borrower is indebted to Lender in the principal sum of U.S. $15,000.00 which indebtedness is evidenced by Borrower's Note dated October 20, 2005 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, ¡fnot sooner paid, (Iue and payable on October 24, 2010; TO SECURE the Note to Lender and Borrower ilTevocably mortgages, grants and conveys to MERS acting solely as a nominee for Lender and Lender's successors and assigl,s and also as mortgagee under this MOIigage 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 MOligage; and the performance of the covenants and agreements of Bonower herein contained, Bonower does hereby mOligage, grant and convey MERS acting solely as a nominee for, with power of sale, the following described propeliy located in the County of LincolJ}, State of Wyoming: See Attached Schedule A which has the address of: 1105 Mountain Dell Circle , (Street) Afton (City) Wyoming 83110 (herein "Property Address"); (Zip Code) 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 MOl1gage; and all of the foregoing, together with said property (or the leasehold estate if this MOl1gage is on a leasehold) are hereinafter refened to as the "Propeliy"; Borrower covenants that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property, and that the Propeliy is unencumbered except for encumbrances of record. BOlTower covenants that BOlTower wanants and will defend genera11y the title to the Property against a11 claims and demands, subject to encumbrances of record. UNIFORM COVENANTS. BOlTower and Lender covenant and agree as fo11ows: 1. Paymeut of Principal and Interest. BOlTower shall promptly pay when due the principal and interest indebtedness evidenced by the Note and late charges as provided in the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or a waiver by Lender, Borrower sha11 pay to Lender on the N/A day of each month, until the Note is paid in fu11, a sum (herein "Funds") equal to one- twelfth of the yearly taxes and assessments (including 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 mOligage insurance, if any, all as reasonable estimates thereof. Borrower sha11 not be obligated to make such payments of Funds to Lender to the extent that BOlTower makes such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender. If Bonower 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 (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, anaJyzing said account or verifying and compiling said assessments and bills, unless Lender pays BOlTower interest on the Funds and applicable law pennits Lender to make such a charge. BOlTower and Lender may agree in writing at the tin1e of execution of this MOligage that interest on the Funds shall be paid to Bonower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay BOlTower any interest or earnings on the Funds. Lender shall give to BOlTower, 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 M0l1gage. WYOMING-SECOND MORTGAGE-1!80?V/FH~MC UNIFORM INSTRUMENT ~ 7UJ ~ (" ('\ ,~ _'~ .~... ~'t . t i ~ ~ ~ ~ .,' ~ .. '.: " -' .J ..... '.-. , ·....f ~J'-.J. -,. If the amount of the Funds held by Lender, togeùler with ùle future monthly installinents of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed ùle amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Bonower's option, either promptly paid to BonoVl'er or credited to BOlTower on monùlly installments of Funds. If the an10unt of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance prennunlS and ground rents as they fall due, Bonower 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 M0l1gage, Lender shall promptly refund to Bonower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is oÙlerwise acquired by lender, Lender shall apply, no later than inm1ediately prior to the sale of the Propeliy or its acquisition by Lender, any Funds held by Lender at the tin1e of application as a credit against the SunlS secured by ùlÎs Mortgage. 3. Application of Payments. Unless applicable law provides oÙlerwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to ùle principal of ùle Note. 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Bonower shall perform all of Bonower's obligations wIder any mOligage, deed of trust or oùler security agreement WiÙl a lien winch has priority over this MOI1gage, including Bonower's covenants to make payments when due. Bonower shall payor cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the PropeI1y wllÎch may attain a priority over ùlÎs Mortgage, and leasehold payments or ground rents, if any. 5. Hazard Insurance. Borrower sha11 keep the in1provements now existing or hereafter erected on Ùle 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 canier providing the insurance shall be chosen by Bonower subject to approval by Lender; provided, that such approval shall not be wn'easonably withheld. All insurance policies and renewals ùlereof shall be in a fonn acceptable to Lender and shall include a standard m0l1gage clause in favor of and in a fonD acceptable to Lender. Lender shall have Ùle right to hold the policies and renewals thereof, subject to the tenns of any mortgage, deed of trust, or other security agreement with a lien which has priority over ùns Mongage, In the event of loss, Bonower shall give prompt notice to the insurance canier and Lender. Lender may make proof of loss if not made promptly by Bonower. If the Property is abandoned by Bonower, or if Bonower fails to respond to Lender within 30 days from ùle date notice is mailed by Lender to Bonower that the insurance carrier offers to settle a clain1 for insurance benefits, Lender is auùlOrized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to Ùle SunlS secured by this Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Plauned Unit Developments. BOlTower shall keep the Propelty in good repair and shall not conmnt waste or pernnt impaÌITnent or deterioration of the Property and shall comply with ùle provisions of any lease if this M0I1gage is on a leasehold. If ùlÎs Mortgage is on a wlÎt in a condominium or a planned unit development, Bonower shall perforn1 all of Borrower's obligations under the declaration or covenants creating or governing Ùle condoillÙlÎun1 or planned unit development, Ùle by-laws and regulations of ùle condoillÙlÎum or planned unit development, and constituent docun1ents. 7. Protection of Lender's Security. If Bono\\'er fails to perfornl ùle covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced winch materially affects Lender's interest in ùle Property, the Lender, at Lender's option, upon notice to BOlTower, may make such appearances, disburse such SunlS, including reasonable attorneys' fees, and take such action as is necessalY to protect Lender's interest. If Lender required m0l1gage insurance as a condition of making the loan secured by this Mortgage, Bonower shall pay Ùle prennwllS required to maintain such insurance in effect wltil such tinle as the requirement for such lllSurance tenninates in accordance WiÙl Borrower's and Lender's written agreement or applicable law. To the extent pernntted by applicable law, any amounts disbursed by Lender pursuant to tilÎs paragraph 7, with lllterest thereon, at tile Note rate, shall become additional llldebtedness of Borrower secured by this Mortgage. Unless Bonower and Lender agree to other ternlS of payment, such amounts shall be payable upon notice from Lender to Bonower 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 tile Property, provided that Lender shall give Bonower notice prior to any such inspection specifying reasonable cause therefore related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or clain1 for damages, direct or consequential, in connection Witil any condenmation or oti1er taking of the Propeliy, or part tl1ereof, or for conveyance llllieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the ternlS of any m0l1gage, deed of trust or other security agreement with a lien which has priority over ÙllS Mortgage. - 2 - C~) 1- "...~ É f " ' ,. - - - - - ,. .j.,,--'; ~' .'''. - ('\ {1."'\ {', r", '~) lJ 'Lt .j ~ 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe tin1e for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Bort'ower shall not operate to release, in any manner, the liability of the original Bonower and Borrower's successors in interest. Lender shaH not be required to commence proceeding against such successor or refuse to extend tin1e for payment or otherwise modify amortization of tile sums secured by tl1Ìs Mortgage by reason of any demand made by the original BOrt'ower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder, or oÙlerwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such light 01 remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein contained shall bind, and tlle rights hereunder sha11 inure to, the respective successors and assigns of Lender and Borrower, subject to tlle provisions of paragraph 16 hereof. All covenants and agreements of BOrt'ower sha11 be joint and several. Any Bort'ower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this MOl1gage only to mortgage, grant and convey that Borrower's interest in tlle Property to Lienor under the tem1S of tl1Ìs Mortgage, (b) is not personally liable on tlle Note or under ù1Ìs M0l1gage, and (c) agrees that Lender and any otller Bort'ower hereunder may agree to extend, modify, forbear, or make any other accommodations Witll regard to the tem1S of this Mongage or tlle Note without that BOlTower's consent and Witllout releasing tllat Bort'ower or modifying this Mortgage as to tllat BOrt'úwer's interest in the Property. 12. Notice. Except for any notice required under applicable law to be given in anotller manner, (a) any notice to BOrt'ower provided for in tI1Ìs Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Bonower at the Property Address or at such otller address as Bort'ower may designate by notice to BOrt'ower as provided herein. Any notice provided for in tl1Îs Mortgage shall be deemed to have been given to BOrt'ower or Lender when given in the nillilller designated herein. 13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall be tlle laws of the jurisdiction in wl1Ìch tlle Property is located, The foregoing sentence shall not lin1Ît the applicability of Federal law to this Mortgage. In the event tl1at 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 can be given effect without tlle conflicting provision, and to this end the provisions of tlÚs Mortgage and tlle Note are declared to be severable. As used herein, "costs", "expenses" and "attomeys' fees" include all sun1S to tlle extent not prol1Ìbited by applicable law or lin1Îted herein. 14. Borrower's Copy. BOrt'ower shall be fumished a confom1ed copy oftlle Note and oftl1Ìs M0I1gage at the tin1e of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. BOlTower shall fulfill all of Borrr)wer's obligations under any home rehabilitation, improvement, repair, or other loan agreement which Bonower enters into Witll Lender. Lender, at Lender's option, may require Bort'ower to execute and deliver to Lender, in a foml acceptable to Lender, an assignment of any rights, clain1S or defenses which BOlTower may have against parties who supply labor, nillterials or services in connection with improvements made to the Property. 16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of tl1e Property or any interest in it is sold or transfened (or if a beneficial interest in Borrower is sold or transfelTed and BOlTower is not a natural person) without Lender's prior ,\oTinen consent, Lender may, at its option, after giving any grace period, right to cure, and/or reinstatement right required by applicable law, require inm1ediate payment in full of all Sun1S secured by tl1Ìs M0l1gage. However, tl1Ìs option shall not be exercised by Lender if exercise is prohibited by Federal law as of the date of this Mortgage. If Bonower fails to pay these sun1S prior to tlle expiration of this period, Lender may invoke any remedies pem1Ìtted by this Mortgage witllOut further notice or demand on Bonower. NON-UNIFORM COVENANTS. Bort'ower and Lender further covenant and agree as follows: 17. Acceleration; Remedies. Except 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 tlils Mortgage, Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof 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 which 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 further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a 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 and payable without further demand and may foreclosure this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited to, reasonable attorneys' fees. The parties to this document are subject to the provision for Arbitration as set forth in the Closed End Note which is incorporated by reference as if set forth at length herein. If Lender invokes the power of sale, Lender shall be given notice of intent to foreclose to Borrowcr 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 all reasonable costs and expenses of the sale, including, but not linilted 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. ~I '¡ '. , ¡¿~.., - 3 - --¡-, ,. ( I¡.'l ~ ·.. "¡-- f.' ';'~.'1- \_J \.J' I!....b ."" r~ (1 : '~~ ,,~. ~: ".- '..:' \J :.....,.. oJ V 18. Borrower's Right to Reinstate. Notwiùlstanding Lender's acceleration of Ùle sums secured by ùlÌs Mortgage due to Bonower's breach, BOlTower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to Ùle earlier to occur of (i) Ùle fIfùl day before sale ofÙle Propeliy pursuant to the power of sale contained in this MOI1gage or (ii) enh-y of a judgment enforcing this Mortgage if: (a) Bonower pays Lender all sums which would be Ùlen due under this Mortgage and Ùle Note. had no acceleration occurred; (b) Bonower cures all breaches of any oilier covenants or agreements of Bonower contained in this MOI1gage; (c) BOlTower pays all reasonable expenses incuned by Lender in enforcing ilie covenants and agreements of BOlTower contained in ùlÌs Mortgage, and in enforcing Lenderr~ remedies as provided in paragraph 17 hereof, including, but not linlÌted to, reasonable attorneys' fees; and (d) Bonower takes such action as Lender may reasonably require to assure iliat ilie lien of this MOI1gage, Lender's interest in the Propeliy and BOlTower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure by BOlTower, this MOI1gage and ilie obligation 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 securil) h<:n::under, BonO\'ier hereby assigns to Lender the rents of ùle Property, provided Ùlat Bonower shall, prior to acceleration under paragraph 17 hereof or abandonment ofùle Property, have Ùle right to collect and retain such rents as iliey become due and payable. Upon acceleration under paragraph 17 hereof or abandonment of the Property, Lender, in person, by agent or by judicially appointed receiver shall be entitled to enter upon, take possession of and manage Ùle PropeJiy and to collect ùle rents of the Property including tllose past due. All rents collected by Lender or the receiver shall be applied fIrst to pay of ilie costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiunls on receiver's bonds and reasonable attomeys' fees, and Ùlen 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 tllÌs Mortgage, Lender shall discharge this Mortgage wiiliout charge to Bonower. Bonower shall pay all costs of recordation, if any. 21. Waiver of Homestead. Bonower hereby waives all right of homestead exemption in the Propeliy. 22. MERS. Bonower understands and agrees that MERS holds only legal title to the interests granted by Bonower in this MOI1gage, but, if necessary to comply with local law or custom MERS (as nominee for Lender and Lender's successors and assigns) has tlle right: to exercise any or all of these interests, including, but not linllted to, the right to foreclose and sell the property; and to take any action required of Lender including but not lin1ited to, releasing and canceling this Mortgage. (This space left blank intentionul(r) ez-.. /1 J Pi #''-~---- _. ~'.I . 1 j'I ,. - - - - - - ,:': ........: <..1,,; ~j~ :" rì.. r~ .,....: ,.~, .. :\:. '.' ,) ,-' ...... 'J ..... REQUEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SUPERIOR MORTGAGES OR DEEDS OF TRUST BOlTower and Lender request the holder of any mOI1gage, deed of hllst or other encumbrance with a lien which has priority over this Mortgage to give Note to Lender, at Lender's address set forth on page one of this Mortgage, of any default under the superior encumbrance amì of any sale or other foreclosure action. IN WITNESS WHEREOF, Bonower has executed tllis MOligage, },r g' :.--- ( " (/. . o' ",- -.,.. .. ...../ ~./ /.1 ' ,<Jt~;r /' /L...~/¡(_ J ~.. {..-"~~,r, ~ . Bonower - Richard Scott W oodforct·· / -' /c/ ¿ t' /"~ .J'- i: ¡'~ï" d:'/ " '¿'L"-~('~",/"" ~~ (,l>" ;r-;-'(/ /"_-,"_.-..:~ BQrrower - Jeunifer Woodford Bonower - Bonower - Bonower - Bonower - Bonower - STATE OF WYOMING L,.~c~ County ss: The foregoing instrument was acknowledged before me this s.~ _ :2(1 -~ !~y (date) Richard Scott Woodford And Jennifer Woodford (moJ1gagor) WIThTESS my hand and official seal. (:-..-:--.::::..-=-:-:-0··--- - ,. ._ ''OJ') --, ~:j, "J FÜ~L¡I'~ (i .. 0 ~ ~; C?~i~:~, cí , ' ~t31B Crt ) t \ , , r c r"1 \ ," \--1. -"~"'-'I-''''' \ . (: 1,./.'v"¡' ¡ "'-__~ ;t!!f;f'1 "C> \) ): v,;]'",!S;!:,', '>:,iè: ".- ~ Zll l::~~~' . ....-- -....... oJ! My conm1Ìssion expires: ~t;' ~~ Þ-°7 czp, b'~ v·~ . Nota lic . 09/18/2005 83:27 71~EE58133 LHW mG 1S T r'·1G? T C.~GE FÄGE 01/(11 ~ t' ". ': ,-"..·uUoJ ..... "\ (1 .-". t ~. r:- '.' ,} (,J' .~. ~j .j ATTORNEY STATEMENT OF INFORMATION ATTORNEY NAME: f9. D CL ù t j ~'fjJ1 e'~ BARIDNUMBER: 1--0 Y. 4- - / J fiR BORROWER: R ; ~ Lu-J g t!. CI .t+ W f;7c. d f:o ~ c-l, LOlù'l NUMBER: .:i:F ó 3 :J. 7 0 7 2 . DATE: {)...::I-)..1-/ -1- t> 0:;- I '---"-'.'. ~~-) ,--- - ,~'" - '-- ,: -" ~) L )~;~I S,g~re //~/ i../ - - - - - . ~._ ~i;.._ ,'" r· . ,.: ~ :.. : ¡ ~':~ -, ...,; 'J U EXHIBIT A SITUATED IN THE COUNTY OF LINCOLN AND STATE OF WYOMING: LOT 70, TWIN CLIFFS SUBDIVISION NO.2, LINCOLN COUNTY, WYOMING, ACCORDING TO THAT PLAT OF RECORD WITH THE LINCOLN COUNTY CLERK AS PLAT NO. 337-8. Permanent Parcel Number: 32181830007500 RICHARD SCOTT WOODFORD AND JENNIFER WOODFORD, HUSBAND AND WIFE 1105 MOUNTAIN DELL CIRCLE, AFTON WY 83110 Loan Reference Number 5208558/5208558 First American Order No: 8458851 Identifier: FIRST AMERICAN EQUITY LOAN DIVISION 111111111111111111111111111111111111111111111