HomeMy WebLinkAbout939584
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6010816815
RECEIVED 6/6/2008 at 4:19 PM
RECEIVING # 939584
BOOK: 696 PAGE: 539
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
(00539
[Space AbGve This LÚle For Recording Data)
State of Wyoming
MORTGAGE
I FHA Co". No,
591-1038930
TIDS MORTGAGE ("Security Instrument") is given on MAY 30, 2008
The Mortgagor is MATTHEW J MAUS / A S¡NGLE PERSON
("Borrower"). This Security Instrumlmt is given to WELLS FARGO BANK, N.A.
which is organized and existing under the laws orTHE UNITED STATES , and
whose address is P.O. BOX 11701, NEWARK, NJ 071014701
("Lender"), Borrower owes Lender the principal sum of
O~ HUNDRED SIXTY E¡GHT THOUSAND TWO HUNDRED THIRTY SIX AND 00/100
Dollars (U.S. $ nwwvrww**168, 236.00).
This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which
provides for monthly payments, with the full debt, if not paid earlier, due and payable on JmJE 01, 2038
. This Security Instrument secures to Lender: (a) the repayment óf the debt evidenced by the
Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums,
with interest, advanced under paragraph 7 to protect the security- of this Security Instrument; and (c) t]le perfoImance
0088710215
FHA Wyommg Mortgage - 4/96
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VMP MORTGAGE FORMS. le~~
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(00540
of Borrower's covenants and agrt!t!ments under this Security Instrument and the Note. For this purpose, Borrower
does hereby mortgage, grant and convey to the Lender with power of sale, the following described property located
in LINCOLN CO\Ulty, Wyoming:
LOT 17 BLOCK 2 OF LINCOLN HEIGHTS 4TH SUBDIVISION, LINCOLN COUNTY , WYOMING AS
DESCRIBED ON THE OPFICIAL PLAT FILED ON OCTOBER 3, 1977 AS INSTRUMENT NO. 499066
OF THE RECORDS OF THE LINCOLN COUNTY CLERK.
THIS IS A PURCHASE ~ONEY ~ECURITY INSTRUMENT. TAX STATEMENTS SHOULD BE SENT TOI
WELLS FARGO HOME MORTGAGE, P.O. BOX 11701, NEWARK, NJ· 071014701
which has !.he addxess of 1505 AliIT;B:LOPE ST, KEMMERER (Street, City),
Wyoming 83101 (Zip Code] ("Property Address");
TOGETHER WITH all !.he Ùllprovements now or hereafter erected on the property, and all easements,
appurtenances and ftxtures now or hereafter a part of the property. All replacements and additions shall also be
covered by this Security Instrument. AU of !.he foregoing is refened to in this Security Instrument as the ·Property. II
BORROWER COVENANTS !.hat Borrower is lawfully seized of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is ,mencumbered, except for encwnbrances of record.
Borrower warrants and will defend generally !.he title to the Property against all clahµs and demands, subject to any
encumbrances of record.
THIS SECURITY INSTRUMENT co)ßbjnes uniform covenants for national use and non-uniform covenants
with limited variations by jurisdiction to constitute a uniform security instrument covering real property.
Borrower and Lender covenant and agree as follows:
UNIFORM COVENANTS.
1. Payment of PrinclpaJ, Interest and Late Charge. Borrower shall pay :when due the principal of, and
interest oIl¡ the debt evidenced by the Note and late charges due under the Note.
2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly
payment, together with the principal and interest as set forth in the Note and any late charges, II sum for (a) taxes and
special ass~ssments levied or to be levied against the Property, (b) leasehold payments or ground rents on the
Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a
mortgage .insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in
which such premium would have been required if Lender still held the Security Instrwnent, each monthly payment
shall also include either: (i) a sum for the annual mortgage insurance premrom to be paid by Lender to tho Secretary,
or (ii) II monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary,
in a reasonable amount to be determined by the Secretary. Except for !.he monthly charge by the Secretary, these
items are called "Escrow Items~ and !.he swns paid to Lender are called "Escrow Funds."
Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the
maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures
Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be
amended from time to tÙlle ("RESPA"), except that the cushion or reserve permitted by RESPA for U1l8nticipated
disbursements or disbursements before the BOIIQWer'S payments are available in !.he account may not be based on
amounts due for the mortgage insurance premium.
Q-4R(WYI 1&004),01
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If the amounts held "by Lender for EscJ;o\V Items exceed the amounts permitted to be held "by RESP A, Lender
shall account to Borrower for the excess funds as required by RESP A. If the amounts of funds held by Lender at any
time are not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to
make up the shortage lIS permitted by RESP A.
The Escrow Funds ate pledged as additional security for all sums secw:ed by this Security Instrwnent. If
Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance
remaining for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has
not become obligated to pay to the Secretary, and Lender shall promptly refund any excess funds to Borrower.
Immediately prior to a foreclosure sale of the Property or .its acquisition by Lender, Borrower's account shall be
credited with any balance remaining for all installments for items (a), (b), and (c).
3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as foJlows:
First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the
Secretary instead of the monthly mortgage insurance premium;
~, to any taxes, special assessments, leasehold payments or ground rents, and fue, flood and other hazard
insurance premiums, as required;
Third, to interest due under the Note;
Fourth, to amortization of the principal of the Note; and
Fifth, to late charges due under the Note.
4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether
now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which
Lender requires insurance. This insw:ance shall be maintained in the amounts and for the periods that Lender
requires. Borrower shall also inslUe all improvements on the Property, whether now in existence or subsequently
erected, against loss by floods to the extènt required by the SecretaJ'y. All insurance Sllall be carried with companies
appro:ved by Lender. The insw:ance policies and any renewals shall be held by Lender and shall include loss payable
clauses in favor of, and in a form acceptable to, Lßnder.
In the event of loss, Borrow~ shall give Lender immediate notice by mail. Lender may make proof of loss if not
made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment
for such loss directly to Lender, instead of to Borrower and to Lender jointly. Allor MY part of the illsurance
proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and
(his Security Instrument, first to any delinquent amounts applied in the order in paragraph 3, and then to prepayment
of principal, or (b) to tile restoration or repair of the damaged Property. Any application of the proceeds to thß
principal shall not extend or postpone the due date of the monthly payments which are referred to in paragraph 2, or
change the amount of such payments. Any excess insurance proceeds over an 1Il1l0un.t required to pay all outstanding
indebtedness under t1le Note and this Security Instrument shall be paid to the entity legally entitled thereto.
In the event of foreclosw:e of this Security Instrwnent or other transfer of title to the Property that extinguishes
the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the
purchaser.
5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty
days after the execution of this Secw:ity Instrument (or within sixty days of a later sale or transfer of the Property)
and shall continue to occupy the Property as Borrower's principal r(!sidence for at least one year after the date of
Occupancy, unless Lßnder detennines that requÌIßment will cause undue hardship for Borrower, or unless extenuating
circumstances exist whiCh are beyond Borrower's control. Borrower shall notify Lender of any extenuating
circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Propertyotallow the
Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if dIe Property is vacant
or abandoned or the loan is ìn default. Lender may take reasonable action to protect and preserve such vacant or
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abandoned Property. Borrower shall also be in defa\J}t if Borrower, d\Jring the loan application process, gave
materially false or inaccurate infonnation or statements to Lender (or failed to provide Lender with any material
infOTIlllltion) in connection with the loan evidenced by thß Note, including, but not limited to, representations
concerning Borrower's occupancy of the Property as a pIincipal residence. If this Security Instrument is on a
leasehold, Borrower shall comply with the provisioD$ of the lease. If Borrower acq\JÍIes fee title to the Property, the
leasehold and. fee title shaU not be merged unless Lender agrees to the merger in writing.
6. Condemnation. The proceeds of any award Or claim for damages, direct or consequential, in cònnection with
any condemnation or other taking of any part of the Property, or for conveyance in placð of condemna.tion, are
hereby assigned and shall be paid to Lender to the extent of the fu11 amoùnt of the indebtedness that remains unpaid
under the Note and this Security Instrument. Lender sball apply such proceeds to the reduction of the indebtedness
under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in
paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal sh.all not extend or
postpone the due date of the monthly payments, which aro referred to in paragraph 2, or change the amount of such
payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this
Security Instrument shall be paid to the entity legally entitled thereto.
7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
governmental or municipal charges, fines and impositions that are not included in paragraph' 2. Borrower shall pay
these obligations on time wrectly to the entity which is owed the payment. If failure to pay would adversely affect
Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts
evidencing these payments.
If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perfonn any other
covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly
affect Lender's rights in the Property (such as II proceeding in bankruptcy, for condenmation or to enforce laws or
regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.
Any amounts wsbursed by Lender under this paragraph shall become an additional debt of Borrower and be
secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate,
and at the option of Lender, shall be immediately due and payable.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
(a) agrees in writing to the payment of the obligation secured by tbe lien in a manner acceptable to Lender; (b)
contests in good faith the lien by, or defends against enforcement of the lien in, legal prO,ceedings which in the
Lender's opinion operate to prevent the enforcement of the lien; or (c) seC\ltes from the holder of the lien an
agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
of the Property is subject to II lien which may attain priority over this Security Instrument, Lender may give Borrower
a notice identifying the lien. Borrower shan satisfy the lien or take one or more of the actions set forth above within
10 days of the giving of notice.
8. Fees, Lender may coUect fees and charges authorized by the Secretary.
9. Grounds for Acceleration of Debt.
(a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment
defaults, require immediate payment in fun of all sums secured by this Security Instrument if:
(i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument
prior to or on the due date of the next monthly payment, or
(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained
in this Security Instrument.
(b) Sale Without Cr.edit Approval. Lender shall, if permitted by applicable law (including Section 341(d)
of the Gam-St. Gennain D~ository Institutions Act of 1982, 12 V.S.C. 170Ij-3(d» and with the prior
approval of the Secretary, require immediate payment in full of an sums secured by this Security Instrument
if:
_-4RIWYI 19604),01
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(i) AU or part of the Property, or II beneficial interest in II trust owning all or part of the Property, is sold
or otherwise trRD8ferred (other than by devise or descent), and
(ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the
purchaser or grantee does so occupy the Property but his or her credit has not been approved in
accordance with the requirements of the Secretary.
(c) No Waiver. If circumstances occur that would permit Lender to req11ÏIe immediate payment in fuJI, but
Lender does not require such payments, Lender does not waive its rights with respect to subsequent evenfs.
(d) Regulations of BUD Secretary. In many circumstances regulations issued by the Secretary will limit
Lender's rights, in the case of payment defaults, to require immediate payment in fun and foreclose if not
paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations
of the Secretary.
(e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined
to be eligible for insurance under the National Housing Act. within 60 days from the date hereof, Lender
may; at its option, require immediate payment in full of all sums secured by this Security Instrument. A
written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof,
declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such
ineligibility. Notwithstanding the foregoing, t1lis option may not be exercised by Lender when the
unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the
Secretary .
10, Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full
because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies
even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shan tender in a
lump sum a11 amounts required to bring Borrower's account current mcluding, to the extent they lire obligations of
Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses
property associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and
the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full.
However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the
cotmnencement of foreclosure proceedings within two years immediately preceding ilie commencement of a current
foreclosure proceeding, (ü) reinstatement will preclude foreclosure on different grounds in the future, or (iü)
reinstatement wlU adversely affect the priority of the lien created by this Security Instrument.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or
mod,ification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
interest of :&orrower shall not oper!lte to release the liability of the original Borrower or Borrower's successor in
inteJ;est. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend
time for payment or otherwise modify amortization of the suIIi8 secured by this Security Instrument ,by reason of any
demand made by the original Borrower or Borrower's SUccessors in interest. Any forbearance by Lender in exercising
any dght or remedy shall not be a waiver qf or preclude the exercise of any right or remedy.
12. Successors and Assigns BQund; Joint and SeveraJ Liability; Co-Slgners. The covenants and agreements
of this Security Instrument shaH bind and benefit the successors and assigns of Lender and Borrower, subject to tJle
pro\!isions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who
co-s~gns this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument oIÙY to
mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b)
is not personaJly obligated to pay the sums secured by Lhis Security Instrument; and (c) agrees that Lender and any
other Borrower may agree to extend, modify, fOIbear or make any accommodations with regllrd to the terms of this
Secutity Instrument or the Note without that Borrower's consent.
~4RrwY) 196041.01
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(,00544
13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or
by mailing it by first class mail wùess applicable law requires use of another method. The notice shall be directed to
the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be
given by fttst class mail to Lender's address stated herein or any address Lender designates by notice to Borrower.
Any notice provided for in this Security Instrument shall be deemed to bave been given to Borrower or Lender when
given as provided in this paragraph.
14. Governing Law; SeverabiJity. This Security Instrument shall be governed by Federal law and the law of
the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument
or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or
the Note which can be given effect without the conflicting provision. To this end the provisions of this Security
Instrument and the Note are declared to be severable.
15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security
Instrument.
16. Hazardous Substances: Borrower shall noì.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 Environmental Law. The preceding two sentences shaU not apply to
the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally
recognized to be appropriate to normal residential Uses and to maintenance of the Property.
Borrower ~hall promptly give Lender writt\.'ln notice of any investigation, claim, demand, lawsuit or other action
by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
EnvÍIonmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental
or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is
necessary, Borrower shan promplly take all necessary remedial actions in accordance with Environmental Law.
As used in this paragraph 16, "Hazardous Substances" are those substances defmed as toxic or hazardous
sùbsta'J1Ces 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 formaldehyde,
and radioactive materilÙs. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the
jurisdiction where the Property is located that relate to health, safety or environmental protecdon.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as foJlows:
17. Assigmnent of Rents. Borrower unconditionally assigns and tJ:aJ1sfers to Lender all the rents and revenues
of the Property. Borrower authorizes Londer or Lender's agents to coHect the rents and revenues and hereby directs
each tenant of the .Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to
Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and
receive all rents and revenUes of the Property as trustee for the benefit of Lender and Bo1'tower. This assignment of
rents constitutes an absolute assignment and not an assignment for additional security O1Ùy.
If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shlÙl be held by Borrower as
trustee for benefit of Lender omy, to be applied to the sums secured by the Security Instrument; (b) Lender shall be
entitled to collect and receive all of the rents of the Property; IUld (c) each tenant of the Property shall pay all rents
due and Wlpaid to Lender or Lender's agent on Lender's written 'demand to the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perfonn any act that would
prevent Lender from exercising its rights under this paragraph 17.
Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice
of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach.
AllY application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This
assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full.
~4F1(WY (~ð04 ,01
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18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may
invoke the power of sale and any other remedies permitted by applicable law. Lender shan be entitled to collect
all expenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
If Lender 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 give notice of
the sale to Borrower in the manner provided In paragrapb 13. Lender shall publish the notice of sale, and the
Property shall be sold in tbc manner prescribed by applicable law. Lender or its designee may purchase the
Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the
sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security
Instrument; and (c) any excess to the person or persons legallyentitJed to It.
IC the Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires
immediate payment in full under Paragraph 9, the Secretary may invoke the nOl\Íudlcial power of sale
provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act'? (12 U.S.C. 3751 et seq.) by requesting
a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as
provided in tbe Act. Nothing in the preceding sentence shan deprive tile Secretary of ány rights otherwise
available to a Lender under this Paragraph 18 or applicable law.
19. Release., Upon payment of an sums secured by this SecUIity Instrument, Lender shall release this Security
Instrument without chl.lrge to Borrower. Borrower shall pay any reco:rdation costs.
20. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of
curtesy and dower in the Property .
21. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together
with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and
supplement the covenants and agreements of this Securíty Instrument as if the rider(s) were a part of this Security
In~ent. [Check applicable box(es)J.
LJ Condominiwn Rider 0 Growin,g Equity Rider 0 Other [specify]
D Planned Unit Development Rider D Graduated Payment Rider
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BY SIGNING BELOW, Borrower accepts and agrees to ,the terms contained in this Security Instrument and in
any rider(s) executed by Borrower and recorded with it.
Witnesses;
_/......;~~T~··
MATTHEW J MAUS
(Seal)
-Borrower
(Seal)
- Borrower
(Seal)
-Borrower
(Seal)
-Borrow!!r
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-BorroWer
STATE OF WYOMJNG,
County ss:
The foregoing instrument was acknowledged before me this MAY 30TH, 2008
(dale)
by MATTHEW J MAUS
(person aclQlow)odg log)
My Commission Expires: O..2.Þ6~tJ//
LORI KALAN - NOTARY PUBLIC
cfÇl ,~
Notary Public
COUNTY Of
LINCOLN
STATE OF
WYOMING
My Commission Expires Feb. 26, 201 I
_-4RIWYJ 1116041,01
Plgo 8 ., B