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HomeMy WebLinkAbout872123119289 Z86AM3 03A93S3tl S1H9IH 11V'1661 A1310OS 30NVNfISNI 1Vf11f1W VNOOOO 16 A Jedoad„ ay; se o; pal el0a aaljeuleJeq aae (ployeseal e uo Si luawn gsul A1unOas sly ale ;se plogeseal ay; ao) Alaadoad pies y ;IM iegie6o1 ulo6aaol ey lo Ile pue `.luewnalsul A11anoes sly; Aq peaanoo A;aadoad ey1 ;o 1. ed e ulewea pue eq o; peweep aq Heys yolyM ;o He `saan;xl; pue seoueualandde 'sly6la 'sluewasee Ile pue '1(laadoad ay; uo peloaaa aelleeaaq ao Mou s;uewanoadwl ay; Ile 1-111M d3H13S01 „ssaappy A;aadoad„ ulaaay) aapua aaMOaaog (apoO d1Z) 101£8 (leans) XENt 000Z T 1188}1808a 6ulwoAM 3DVO1HOW 91 0,cA1 lOti003d LiO3 3N11 S1111]ocw 3 z S Jt�d 2Id T LNNV3P CZ.g,,(1 d(4 110 CZ1ZL8 N1131O AIN11O3 PfOOt41 Q3A1 3 d HAIla AHHAff 106T (AUO) 'aOaaaHJ Jn'Ia 'IVIOI3aio 8HJ NO eaNix0saa SY ONI1d0AM `ILNIIOO N700NIZ 882IaWW4/1 AO a.LIO SH.L OJ NOIZI L W 8AI21a ANUS HH.L 40 8 aNV L'9 SLOT jo sseippe ay; seq yolgM :6ulwoAM ;o awls NZOONIZ i( ;uno0 ay; u! pa;eool A;aedoad pegiaosep 6u!Mollo; ay; aapuei o; Aanuoo pue ;uea6 `e6e64aow AgeJey seop U3MOhIaOe •luaweei6y HpaJO ey1 aapun pue luawnalsul Alunoas sly; aapun sluewoeibe pue slueuanoo s,aaMOJJOe aouewaopad e41 (6) ;ueweoi6y 1lpelp ay; ul paglaosap se AMA ABU.] yolgM a ;ea e 1e uoaaeyl sa6aeyo eoueul; y ;IM'luawna ;sul 1(1ianoas sly; ;o Alunoas ay; loaload o; yiMaaay eouepa000e u! peouenpe swns aaylo Ile ;o 1uawAed ayl •algeAed pue enp sI `iellaee pled lou )I 'luaweeft 1lpaiO eyl aapun sseupa ;gepul aa1lue ay; ';uewnalsui AllanoeS sly lo amp ay; woa; saeaA L `elea;uewl(ed leUld ay; up ;Iwn 11paa3 ay; se luewaaa6y ;ipawO ay; 1.11 o; paaaa;aa pue eouelee iedlouud wnwlxelnl ay; se uleaay 01 peua ;aa sI wns McOO 00I a82IQNIIH 88nm11 aNvSIIOHJ o 1 uNBItL peeoxa ;ou Heys (lueweeiBy polo ay; aapun awl; o; ewi; woa; 6uIMo eq Aew yol4M sisoo uogoatioo pue se6aeyo Jaylo 1(ue pue 'awl; o; aw!1 woa; Alen Aew go1gM a ;ea e ;e uoaaayl se6aeyo aoueul; 6ulpnloul lou) lueweei6y ;Ipeao ay; aapun ewil auo Aue le 6uIMo eoueleg ledloulad 6uipuels1no lelo; ayl •luawnalsul A;ianoas sly; i(q paanoes aq o; seouenpe ;o saves e eleldweluoo Japuei pue aaMOJaog •0111 01 awl; woa; epewaa pue 'pledaa `spew aq Aew pue e n;eu 6ulnlonea e eq HIM seouenpe yolgM ';ueweea6y 11palO swaa; ey1 aapun JemonOe o; seouenpe aNew o1 paaa6e seq aapue „lueweea6y ;IpaJO„ ulaaaq)1o0a014 sleMauaa pue suolsualxe `sluewpuewe'suo1leowpow lie pue'luewna1sul A1unoas sly; se i(ep ewes oU1 pejep pue aaMOJJOg /(q spew saansolosla 6ulpue ul -Ulnal pue ;ueweei6y 1lpaJO veld /llnb3 ewoH ®d3NI1NVO1 suo!lipuoo pue swael ay; aapun enp ewooeq o1 pue enp sseupelgepu4 He e o luewl( a :aapuel 01 edaa 3d l 0 l `ydea6eaed sly; ul paglaosep se aapuai of palgepu! s! aaMOaaoe 0£618 9NINOAN NOJSNVAH `SV3d3HM J882LLS JN01111 Inc sI ssaappe esogM oNllwam ;o sMel ay; aapun bullslxe pue pezlue6ao uopeaodaoo e NOINO JIQ1I0 1vaaa84 UTNII16103 VNO' aL sI ee6e6laolN ey1 NV.W aTDNIS d N8SN9H 'I AGM sI ao6e6 ;aolnl eta uo apew sI ;uewna1sul Apinoes 39vo11:1o01 SIH± '1S3d31N1 dO 31Vd 318VI VA V NIb'1NOO AV1N aNb' 1103E0 dO 3N11 ONIA1OA2d V dOd S3a1AOdd HOIHM 1N31N33U0V 110310 V d3aN11 SS3Na31830NI S3d1103S aNy NOISIAOdd 31VS V SNIVINOO 39t/91UO1N SIH1 01 11V1 'C130E0038 N3HM Complete if applicable: 0 This part of a condominium project known as N/A 0 0 3 This Pr includes Borrower's unit and all Borrower's rights in the common elements of the condominium project. This Property is in a Planned Unit Development known as N/A Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of record. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Finance Charges and Other Charges. Borrower shall promptly pay when due all amounts borrowed under the Credit Agreement, all finance charges and applicable other charges and collection costs as provided in the Credit Agreement. 2. Funds for Taxes and Insurance. Subject to applicable law, Lender, at Lender's option, may require Borrower to pay to Lender on the day monthly payments of principal and finance charges are payable under the Credit Agreement, until all sums secured by this Security Instrument are paid in full, 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 Security Instrument, and ground rents on the Property, if any, plus one twelfth of yearly premium installments for hazard insurance, 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 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, 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 Security Instrument 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 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 Security Instrument. 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 installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance and ground rents as they fall 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 Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 22 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no 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 Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Credit Agreement 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, second, (in the order Lender chooses) to any finance charges, other charges and collection costs owing, and third, to the principal balance under the Credit Agreement. 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 security agreement with a lien which has priority over this Security Instrument, including Borrower's covenants to make payments when due. Except to the extent that any such charges or impositions are to be paid to Lender under paragraph 2, Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Security Instrument, and leasehold payments or ground rents, if any. Within five days after any demand by Lender, Borrower shall exhibit to Lender receipts showing that all amounts due under this paragraph have been paid when due. 5. Hazard Insurance. 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," floods and such other hazards as Lender may require and in such amounts and for such periods as Lender may require. Unless Lender in writing requires otherwise, the policy shall provide insurance on a replacement cost basis in an amount not less than that necessary to comply with any coinsurance percentage stipulated in the hazard insurance policy, and the amount of coverage shall be no less than the Maximum Principal Balance plus the full amount of any lien which has priority over this Security Instrument. 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, deed of trust or other security agreement with a lien which has priority over this Security Instrument. 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. All insurance proceeds are hereby assigned to Lender and shall be paid to Lender to the extent of all sums secured by this Security Instrument, subject to the terms of any mortgage, deed of trust or security agreement with a lien which has priority over this Security Instrument. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restore or repair the Property, if it is economically feasible to do so. If the Property is abandoned by Borrower, 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 Security Instrument. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. 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 provisions of any lease if this Security Instrument is on a leasehold. If this Security Instrument is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's 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 the constituent documents. .;Delay ZZ gdea6eaed Aq pall!waed sa!pewaa Aue a)lonu! 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Alddns oyM Se!Ued 1su!e6e aneq Aew aaMOaaog yo!yM sasua;ap JO sw!eIO s1Li6u Aue ;o luewu6!sse ue 'aapue o) a!geldaooe um; a u! `aepuai o1 aan!lap pue alnoexe o1 aaMOaaoe aa!nbaa Aew `uoildo s,iepue le `aapue •aepue yl!M oju! aalua Aew aaMOaaog yo!LM lueweei6e ueo! aaLi10 ao `a!edeJ luew anoadw! 'uo!lel!I!gegeJ ewo4 Aue aapun suo!1e6!lgo s,aeMoaaog ;o lie H! ;In; Heys aaMOaaog •lueweaa8y ueoi uogelmouaa 9l ;oaae4 uollepaooeJ aa) ;e JO uo!lnoexa ;o awl) eql le luewnalsu! Alunoes s!ql ;o pue lueweeJ6y )!paaa a41 ;o Adoo e pags!uan; eq legs aaMOaaog Ado s,aamoaaog •s 1 •Jepua1 ;o luesuoo uauuM loud ag)1no41!M lueweaa6e A ;unoes aeylo ao 'Ism ;o peep 'a6e6Uow loud e iepun eouenpe einln; Aue ldeooe JOU )senbea aayl!au !legs ae oaaog •aepual a41 ;o luesuoo ualluM iopd ail lnogl!M'paMeuaa JO `pepua)xe 'pepuawe 'pa! ;!pow s! lueweei6e A)unoes ley! LiO!LiM Aq luewnalsu! Alunoes spa nano A)uoud seq LiO!4M lueweei a Al!anoes aa410 JO lsnal ;o peep `a6e6Uow Aue Jo aeploy a4l yl!M luaweea6e Aue 0111! JelUe lou Heys iemoaaog •aouenpd eJnlnd :uo!leo!;!poIAI ;snal ;o paaa JO e5061aO1N .O!ad 'bl u!aae4 pal!w!! JO Mel a!geo!idde Aq peuq!yoid lou )ualxe eq 01 scans Ile epn!ou! „sea;,,sAeuaolle„ pue „sesuedxe„ „`slsoo„ 'u!aaaq pasn sv •elgeaanes eq o1 paaeloep ale lueweeJ6y 1!paaa eql pue luawnalsul Alunoas s!ql ;O suo!s!noad eta pue spa 01 pue 'uo!s!noad 6UUo!I ;uoo eta InmaM loop uen!6 eq ueo yoigM lueweei v )!paaa eq1 JO luewnalsul Al!anoas s!41 ;o suo!s!noad aaq)o 1o8; 1e jou !legs loli;uoo ions `Mel algeo!!dde y1!M s1O!I ;uoO luewaaa6y )paaa eq JO luawnalsul Alunoas s!41 ;o esnep ao uo!s!noad Aue leg) Juana ail ul •luewnalsul Alpnoes s!4l 01 Mel !eloped ;o Al!!!geo!Idde ail l!w!l jou !legs eouelues 6u!o6aao; ail •paleool s! 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A1unoes s!ql 6u!A ;!pow AO aaMOaaog 1e416u!see!aa 1noy1!M pue luesuoo s,aeMOaaog ley! lnogl!M luewaaa6y ppaaa eql JO luewna)sul A11noes s!yl ;o swag) ayi o) pae6aa y)!M sluewpuewe JO suo!lepoww000e Jag)o Aue aNew ao 'aeagao; `A ;!pow 'puelxe of eei6e Aew aapunaaaq aeMOaaog aa410 Aue pue aapue- )ey1 seea6e (o) pue 'luawna)sul Allmon s!.0 iepun aO lueweeJ6y;!paaa 941 iepun ape!! AlleuosJed IOU s! (q) luawnalsul Allmon s!yl ;o swael eq1 iepun aapue 01 Alaadoad ay) u! )saaalu! s,aaMOaaoe legs Aanuoo pue luea6 'a6e6Uow o) Apo luawnalsul A11noes s!yl 6u!u6!s -oo s! (e) 'lueweei6y 1!paJO ail alnoexe 1ou slop 1ng 'luawnalsul Allmon s!41 su61s -o3 oyM aeMOaaog Auy •Ieaanas pue lu!of eq !legs AeMOaa013 10 slueweeJbe pue slueuanoO !ly 4o8a94 lZ gdea6eaed ;o suo!s -!noad ail 01)oefgns 'JeMOaaog pue aepua ;o su6!sse pue siosseoons an!loadsaa ayl'01 aanu! Heys iepuneaay slLi6!a ag) pue `puiq Heys peu!eluoo u!aaaq slueweea6e pue slueuenoo ail •saeu6!s -oa :Al!Ilgen 'wanes pue lu!or :punog su6!ssd pue saosseoons 1.1. •Apewaa JO 14611 Lions Aue ;o es!Oaaxe ail epnloead Jo lo aan!eM e eq lou Heys 'Mel a!geo!ldde Aq pepao ;e es!Ma9410 JO 'aepunaaaq Apawaa ao 1g6u Aue 6u!sioaaxe u! iepue Aq eoueaeegao; Auy •lseaalu! u! siosseoons s,aaMOaaog pue aaMOaaog !eu!6uo 041 Aq apew puewep Aue ;o UOSeaa Aq luawna1sul A1!anoes s!41 Aq paanoes swns awl() uo!1ez!laowe A ;!pow es!Nuewo JO 1uewAed ao; ew!1 pue xe of esnlei JO iosseoons Lions 1su!ebe s6u!peeooad eouawwoo o) paa!nbea eq jou Heys iepuel siosseoons s,aaMOaaog pue aaMOaaog leu!6uo eql 10 A1!l!ge!I eta `Jeuuew Aue u! 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'swns Lions asangs!p `SeOUereadde Lions aNew Aew 'aaMOaaog o1 aOROU uodn `uo!ldo sdepUe le `aepua1 uayl `AUadoad e41 u! lsaaelu! s,aapua1 sloop Alieualew (O!LM peouawwoO s! 6u!peeooad JO uopoe Aue 11J0 luawnilsul A)unOes s!ql u! pau!eluoo slueweeJbe pue slueuenoo eq1 waoped 01 s!!e; aaMOaaog ;I 'A1!anoes s,aapual ;o uo!loaload 'L EMI '.7Z71„.80 22. Default, Termination and Acceleration; Remedies. Each of the following events shall constitute an event of default "event of default under this Security Instrument: (1) Borrower commits fraud or makes a material misrepresentation in connection with this Security Instrument or the Credit Agreement; (2) Borrower does not meet the repayment terms of the Credit Agreement; or (3) Borrower's action or inaction adversely affects the Lender's rights in the Property secured by this Security Instrument. If an event of default occurs, then prior to exercising any right or remedy provided for in this Security Instrument and prior to acceleration, Lender shall give notice as provided in paragraph 12 hereof and as required by applicable law. The notice shall specify: (a) the event of default; (b) the action required to cure such event of default; (c) a date, not Tess than 10 days (or any longer period required by applicable law) from the date the notice is given to Borrower by which the event of default must be cured; (4) that failure to cure the event of default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property; and e) any other information required by applicable law. The notice shall further inform Borrower of the right to reinstate after acceleration, if applicable, and the right to bring a court action to assert the nonexistence of an event of default or any other defense of Borrower to acceleration and sale. If the event of default is not cured on or before the date specified in the notice, Lender, at Lender's option, without further notice or demand, may declare default, may declare all sums secured by this Security Instrument to be immediately due and payable, and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph 22, including, but not limited to, reasonable attorneys' fees. 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 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 limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this Security Instrument; and (c) the excess, if any, to the person or persons legally entitled thereto. 23. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of (i) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument or (ii) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which would then be due under this Security Instrument and the Credit Agreement had no acceleration occurred; (b) cures all other defaults under this Security Instrument and the Credit Agreement; (c) pays all reasonable expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 21. 24. Release. This Security Instrument secures a revolving line of credit and advances may be made, repaid, and remade from time to time, under the terms of the Credit Agreement. When according to the terms of the Credit Agreement, no more advances will be made, and Borrower has paid all sums secured by this Security Instrument (or earlier if required by applicable law), Lender shall discharge this Security Instrument. To the extent permitted by law, Lender may charge Borrower a fee for such discharge and require Borrower to pay costs of recordation, if any. REQUEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SUPERIOR MORTGAGES OR DEEDS OF TRUST Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has priority over this Security Instrument to give Notice to Lender, at Lender's address set forth on page one of this Security Instrument, of any default under the superior encumbrance and of any sale or other foreclosure action. BY SIGNING BELOW, Borrower accepts and agrees to the ter and r�ovenants con fined in this Security Instrument and R in any rider(s) executed by Borrower and recorded with it. R STATE OF WYOMING, by VCS 1 0QJ 0 -••i The fci going instrument was ac nowled ed before me this 0 6\\ \C >V WITNESS my hand and official seal. 4 County of 0 Statlpipac Wyoming My Commission Expires June 7, 2003 l•. (person acknowledging) r ,ct County v e47 r oato Below This Line Reserved For Lender and Recorder) 005 (Seal) orrower (Seal) orrower