HomeMy WebLinkAbout9545446011019190
Affiance Trtle Escrow
Return To: P O. Box 4367
Kemmere r WY 83101
Prepared By:
State of Wyoming
C 323
FHA Ma taage WY
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NWt 0322 i;AreFMI Ref 15[Z4"33
RECEIVED 7/23/2010 at 2:39 PM
RECEIVING 954544
BOOK 751 PAGE 52
JEANNE WAGNER
LINCOLN COUNTY CLERK. KEMMERER. WY
(Space Above This Line For Recording Data]
MORTGAGE
THIS MORTGAGE (Security Instrument') is given on JULY 23, 2010
The Mortgator is A.J GUINTA, A S INGLE PERSON
('oar This Security Instrument is given to WELLS FARGO HANK, N A
FHA Case No,.
591-1172140 703
10i 052
which is organized and existing under the laws of THE tJN A I Eli STATES
whose address is P .0 BOX 11701, NEWARK, NJ 071014701
("Lender') Borrower owes Lehr the principal s of
OWN HUNDRED TWENTY TWO THOUSAND THREE HUNDRED FIFTY TWO AND 00/100
Dollars (U.S. *art 122,352 .017)...
This deist is evidenced by Borrower's note dated the same date as this Security Instrument ("Note which provides
for mo€y patents,. with the full debt, if not paid earlier, due and payable on AUGUST 01, 2040
This Security Insstrmnem secures to Lender: (a) the repay ent of the debt evidenced by the
Note, with interest_ and all renewals, extensions and modifications of the Note; (b) the payment of all outer sums,
with interes advanced tinder paragraph 7 in protect the security of this Security Instrument; and (c) the performance
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of Borrower's covenants and agreenaents 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 County, Wyoming:
LOT 12 OF BLOCK 4 TO THE TOWN OF KEMMERER, LINCOLN COUNTY,
WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
THIS IS A PURCHASE MONEY SECURITY INSTRUMENT.
TAX STATEMENTS SHOULD BE SENT TO WELLS FARGO HOME MORTGAGE, P.O. BOX 11701,
NEWARK, NJ 071014701
Parch !D Number:
which has the address of 601 CEDAR AVENUE
KEMMERER
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lC�e 1, Wyoming 83101
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TOGETHER WITH all the improvements now or hereafter erected on the property, and all eats,
appurtenances and fixtures now or hereafter a part of the property_ Ati replacements and additions shall also be
covered this Security Instru t_ All of the foregoing is referred to in this Security Instrument as the 'Property."
BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
natgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
Borrower ctalfrafttS arid will &fend generally the fide to the Property against all claims and demands. subject to any
encumbrances of record.
THIS SECURITY INSTRUMENT combines unifomr covenants for national terse and non- uniform covenants
with limier variations by jurisdiction to constitute a uniform security instnnnent covering real property=.
Borrower and Lender covenant artcl agree as follows:
UNIFORM COVENANTS.
L Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of. and
interest on, the debt evidenced by the Note and late charges due under the Note.
2. Motanhly Payment of Taxes, Insurance and Other Charges. Borrower .shall include in each monthly
payment, mgethter with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and
special a<ssessmerr .s levied or to be levied against the Property, {b) leasehold payments or around rents an the
Property, and (c.) premiums: for insurance required tinder paragraph 4. In any year in which the Lender meat pay a
mortgage ittsatrancc prennum to the Secretary of Housing and Urban Developmem "Secretary or in any year in
which such pre at would have been required if Lender still held the Security instrument. each monthly payment
l also include either (i) a slim for the anoint mortgage insurance premium to be paid by Lender to the Secretary,
or (ii) a monthly charge mead 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 the monthly charge by the Secretary, these
item are tabled "Escrow Items" and the sans paid to Lender are called "Escrow Funds
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Lender tmly, at any Gale, collect and hold amounts for Escrow items in an aggregate amount not to exceed the
maximum amount drat may be required for Borro wer's escrow account under the Real Estate Settlement Procedures
Act of 1974, 12 L .S.t:_ Section 2601 et seq. and i.ripleineiiting regulations, 24 CFR Part 3500. as they may be
amend from time to time "RESPA except that the cushion or reserve permitted by RESPA for unanticipated
disbursements or disbursements before the Borrower's payments are available in the account may not be based on
amounts due for the mortgage insurance premium.
If the aiiDUILLS held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA, lender
Shall .act to Borrower for the eac:e; funds as rehired by RESPA. If the arnnui s of f€ xls 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 shtrnage a`s petrol Fred by RESPA.
The Escrow Funds are pledged as additional security for all sums secured by this Security instr iment_ it
Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance
=mining for all installment items (a). (b), and (c) and any rmortgage 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 gall be
credii d with any balance retaining for all installments for items (a), (b), aim (c).
3.. Appfication of Paynaents. All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
First, to the mortgage insurance premium_ to be paid by Lender to the Secretary or to the monthily charge by the
Secretary instead of the monthly mortgage insurance premium;
Seca d, to any taxes. special assessments. leasehold payments or ground rents, and fire, flood and other hazard
imattance premiums, as rehired.
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, wltetlier
now in existence or subsequently erected, against aoy hazards, casualties, and cotuirigeii#.'les, including fire, for which
Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender
requir Borrower shalt also insure all improvements on the Property, whether now in existence or subsequently
eret against loss by floods to the extent required by the Secretary. All insurance shalt be carried with companies
approved by Lender. The insurance policies and any renewals shall be held by Lender and shall inch loss pale
dames in favor of. and in a form acceptable to. Lender.
iu the event of loss, Borrower shall give Lender immediate notice by mail_ Lender may make proof of loss if not
made piroripxly by Borrower. Each insoran{.e company concerned is hereby authorized and directed to make payment
for such. loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the instrarx e
proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and
this Security Insuument, first to any delinquent amounts applied in the order in paragraph 3. and then to prepayment
of ptiocipal, or (b) to the restoration or repair of die damaged Property. Any application of the proceeds to the
principal shall not extend or postpone the due date of the monthly payments which are referred to in paragraph 2, or
tie die amount of arch payirelits. Any excess insurance proceeds over an amount required to pay all outstanding
indebtedness under the Note and this Security Instrument shall be paid to the enfity le€a{ entitled thereto.
In the event of foreclosure of this Security lristrun ent or other transfer of title to the Property that extinguishes
die indebtedness, all right_ title aixl interest of Borrower in and to insurance policies in force shill pass to the
purilmer.
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5. (y, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower .43atl occupy, establish. and use the Property as Borrower's principal residence within sixty
.iays after the execuii011 of this Security Instrument (or within sixty days of a later sate or transfer of the Piuperty)
and strati continue to occupy the Property as Borrower's principal residence for at least one year after the date of
occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or ankss ex {e a€irty
ciriances exist which are beyond Borrower's control. Borrower shall notify Lender of any extenuating
circunnann es. Borrower shall not commit waste or destroy, damage or substantially change the Propene or allow the
Property to dezzsiorate, reasonable wear and tear excepted_ Lender may inspect the Property if the Property is vacant
or atrandoned or the loan is in default. Lender may take reasonable action to protect and preserve such rent or
abandoned Property. Borrower shalt also be in default if Borrower, during the loan application process, gave
materially false Of inaccurate information or statements to Lender (or failed to provide Lender with any material
inforrmation) in connection with the loan evidenced by the Note, including., but -not limited to, representations
tanncenting Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
leasehold, Burrower shall comply with the pm- visions of the Tease_ If Borrower acquires fee tide to the 'Property, the
leasehold and fee tide shall 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 connection with
antsy condemnation or other taking of any part of the Property, or for conveyance in place of coixTernnation, are
hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that rerriaicns unpaid
under the Note and this Security Instrument Lender shill 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 prepayraerrt of principal. Arty application of the proceeds to the pririncipai hail not extend or
pone the due date o€ the monthly payments, which are 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 y legally entitled thereto.
7_ Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
governmental or municipal oranges, fines and impositions that are not int:hided in paragraph 2. Borrower shall pay
these tbigattions on time directly to the entity which is owed the payment. If failure to pay would adversebt affect
Lender's interest in the Property, upon Lender's request Borrower shall promptly fttrni_sh to Lender receipts
evidcn int these payments.
if $cxrtiwer fails to retake these payments or the payments required by paragraph 2. or fails to perform any other
covenants and aefeetTlefltS contained in this Security Instrument, or there is a legal proceedinv that may signiftcandy
after: t Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
regulations), then Lender may do and pay whatever is neces 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 1
Any amounts disbursed by Tender under this paragraph shall become an additional debt of Borrower and be
secured by ibis Security Instri_+ment These amonnre shall bear interest from the date of disbursement, at the Note rate,
and at the option of Lender, shall be immediately due and payable.
Bo rower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower.
ta agrees in writint to the payment of the obligation secured by the lien in a manner acxeptabde to Lender; (b)
contests in good faith the lien by. or defends again Y enforcement of the lien in, legal proceedlinns which in the
Lender's opinion operate to prevent the enforcement of the lien: or icl secures from the holder of the hen an
agreement satisfa+:tory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
of the Property is sanbject to a lien which may attain priority over this Security Instrument_ Lender may give Borrower
a notice idetttifyiog the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within
10 days of the giving of nonce.
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8. Fees. leader may collect fees and chalges 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 full of all sums secured by this Security Instrument if:
(r) Borrower defaults by failing to pay in full any monthly payment required by this Security instrument
prier to or on the due date of the next monthly payment, or
iii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained
in this Seccuity Instrument.
03) Sale Witt CretSt Approval. Lender shall, if permitted by app likable law (including Section 34I(d)
of the 'GanaSt. Germain Depository Instinttions Act of 1982. 12 U.S.C. 1701j-3(d)) and with the prior
approval of the Secretary. require immediate payment in full of all sums secured by this Security Instrument
ti) All or pan of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold
or otherwise transferred (other than by devise or descend. 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 require immediate payment in full, but
Lender does not refire such payments, Lender does not waive its rights with respect to subsequent events.
(t9 Regulations of HUD Seem. In many circumstances regulations issued by the Secretary will limit
i.;.nder's rights, in the case of payment defaults, to rewire immediate payment in full 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 determine
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 aims secured by this Security Instrument_ A
written tnatement of any authorized agent of the Secretary dated subsequent w 60 days from the date hereof,
declining to insure this Security Instrument and the Note, shall be dulled conclu proof of such
inelit=ibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the
unavailability of insurance is solely due to Lender's failure to remit a mortgage incrrrar a premium to the
Secretary.
It Reinstatement. Bo!mwer has a right to be reinstated if Lehr has required inunediate payment is full
beimm of Borrower's failure to pay an amount due under the Note or this Security Instrrmett. This right applies
even after fore closure proceedings are instituted. To reinstate the Security f r melt.. Borrower Aall tender in a
lump sum all amounts required to bring Borrower's account current including. to the extent they are Obligations of
Borrower cruller this Security Instrument, tbreclosure costs and reasonable and customary attorneys' fees and expenses
property .associated with the foreclosure proceeding. Upon( reinstatement by Borrower, this Security Ins*rurnerx and
the obligations that it secures Aall remain in effect as if Lender had not required immediate payment in tuhi_
However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the
03/111ThaiMilleiX of foreclosure proceedings within two years immediately preceding the COBIElietKeffielli of a current
foreclosure proceeding, (ii) reinseacernent will preclude foreclosure on different grounds in the future_ ar (iii)
reinstatement will adversely affect the priority of the lien created by this Security Im umeat.
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11. $error Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or
morfification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
inte of Borrower shalt not operate to release the liability of the original Borrower or Borrower's successor in
ice. Lender smell not be required to commence proceedings against any successor in interest or refer to extend
Cone for Nyman or otherwise modify amortization of the 'inns secured by this Security Instrument by reason of any
demand rthade try the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising
any right Of remedy shall not be a waiver of or preclude the exercise of any right or remedy
12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The covenants and agreements
cif
this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the
provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower wino
coigns this Security instrument but does not exe ;use the Note: (a) is co- signing this Security Instrument only to
mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument: b)
is not personally obligated to pay the sums secured by this Security Instrument, and (e) a4rs that Lender and any
other Borrower may agree to extend, modify, forbear or make any aecomm dations with regard to the terns of this
Security Inginment or the Note without that Borrower's consent.
13. Notices. Any notice to Borrower provided for in this Security Ittrument shall be given by delivering it or
by mai$ion it by furA class mail unless 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 first cuss €uail to Lender's address stated herein or any address Lender d• by notice to Borrower.
Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when
given as provided in this paragraph.
14. Governing Law: Severahility. 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 linnrument
or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument cn
the Note which can be given effect without the conflictrg provision. To this end the provisions of this Securityi
lint and the Note are declared to be severable.
15. Borrow's Copy. Borrower shall be given one conformed copy of the Note and of this Security
Instrument_
16. ILrdous Substances. Borrower shall not 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 tit* any Environmental La.. The preceding two sentences shall not apply to
the presence, use, or storage on the Property of small quantities of Hanardaus Substances that are gnoterally
recognized to be appropriate to normal r uses and to maintenance of the Property.
Borrower Alan promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action
by any goverinnental or regulatory agency or private party involving the Property and any Hazardous Substance or
Environmental Law of with 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 stall promptly take all a=ssary remedial anions in accordance with. Environmental Law.
As used in this paragraph 16, flartrdous Substa are those substances defined as toxic or hazardous
Winces by EillifOlifflattal Law and the followine substances• gasoline, kerosene, other flammable or toxic
petroleum prod€ c s, toxic pesticides and herbicides. volatile solvents, materials containing asbestos or formaldehyde,
and radioatti }e materials. As used in this paragraph lb, `Environmental Law" n an_s federal laws and laws of the
jurisditaio.n where the Property is located that relate to health, safety or environmental protection.
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NON-UNIFORM COVENANTS_ Borrower and Lender further covenant and agree as follows:
17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues
of the Property. Borrower authorizes Lender or Lender's atents to collect 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 Bor:rower"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 Borrower. This assignment of
rents constitutes an absolute assignnneut and not an assignment for additional security only.
If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as
Innaee for benefit of Lender only, to be applied to the sums secured by the Security instrument (b) Lender shall be
entitled 10 collect and receive all of the rents of the Property; and tic) each tenant of the Property shall pay all rents
due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant.
BOMMX has not executed any prior assignment of the rents and has not and will not perform any act that would
prevent Lender from exercising its rights under this paragraph 17.
Lender :dull not be required to enter upon, take control of or maintain the Property before or after giving notice
ofbreach to Borrower. However. Lender or a judicially appointed receiver may do so at any time there is a breach.
Any 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 deb secured by the Security tnstrun env is paid irr full.
1$. Foreclosure Pr ►cednre. If Lender requires immediate payment in full under paragraph 9, Lender may
invoke the pacer of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect
alt expenses incurred in pursuing the remedies provided in this paragraph IS, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
11 Lender invokes the power of sale, Lender shalt give notice of intent to foresi*.rse to Borrower and to the
pence 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 paragraph 13. Lender shall publish the notice or sale, and the
Property shall be sold in the manner prescribed by applicable taw. 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 -ex ses or the
sale, Ind tt ng, 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 legally entitled to it.
If the Lt's interest in this Security Instrument is held by the Secretary and the Secretary requires
immetilate payment in fall under mph 9, the Secretary may invoke the nonjudicial power of sale
provided in Ilse Single Family Mortgage Foreclosure Act of 1 Ac1) (12 U.S.C. 3751 et seq.) by requesdng
a foreclosure commissioner debated under the Act to can unence .foreclosure and to sell the Property as
provided in the Act_ Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise
available to a Lender tinder this Paragraph 15 or applicable law.
13_ Release. Upon payment of alt sums secured by this Security In s trurnent. Lender shall rely this Security
IfISMitgellt without charge to Borrower_ Borrower shall pay any recordation costs.
2L_ Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of
curtly and dower in the Property.
21_ Riders to this Security Instrument. It one or more riders are executed by Borrower and recorded together
with this Security Ins timem, the covenants of each such rider shall be incorporated into and shall amend and
s riVetrient the covenants and agreements of this Security Instrument as if the rider(s) were a pari of this Security
Instrument. !Check applicable boxtes)].
1 Condominium Rider n Growing Equity Rider
FA Plante Unit Development Rider Graduated Payment Rider
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BY SIGNING BELOW. Borrower accepts aid ars w the te.m_ 4:13EMailVA ill this S&zurity In nwnt -and in
any riders ex.exated by Borrower and recoTded with it.
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This instrument was acknowledged before me on JULY 23RD, 2010
by A.J. GUIWTA
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