HomeMy WebLinkAbout872508WHEN RECORDED MAIL TO:
MSN SV -79 DOCUMENT CONTROL DEPT.
P.O. BOX 10266
VAN NUYS, CALIFORNIA 91410 -0266
LOAN 7503969
ESCROW /CLOSING A4581
872508
BOOK 462 PR PAGE 3 9
SPACE ABOVE FOR RECORDERS USE
PARCEL ID 3518311120010
Prepared by: C. CHEW
MORTGAGE
(Line of Credit)
THIS MORTGAGE, dated March 30 2001, is between
KEITH L ANDERSON, AND MERTA R ANDERSON,
residing at
225 ALTA DRIVE, THAYNE, WY 83127
the person or persons signing as "Mortgagor(s)" below and hereinafter referred to as "we" or "us" and
AMERICA'S WHOLESALE LENDER
with an address at
4500 PARK GRANADA, CALABASAS, CA 91302 -1613
and hereinafter referred to as "you" or the "Mortgagee."
MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby mortgage, grant and convey to
you the premises located at:
225 ALTA DRIVE
Str
THAYNE LINCOLN WY 83127
Municipality County State ZIP
and further described as:
STAR VALLEY RANCH PLAT SIXTEEN (16) LOT EIGHT-FOUR (84) AS PLATTED AND
RECORDED IN THE OFFICIAL RECORDS OF LINCOLN COUNTY, WYOMING
TAX ID 35183111200100
BORROWER'S IMPORTANT OBLIGATIONS:
HELOC WY Mortgage
2C6201 WY (08/99)
RECEIVED
LINCOLN COUNTY CLERK
-14 Ni to '35
JEANNE WAGNER
GNE R
KEMMERER. "WYOMING
LASE Op
)4 2-
hi Mort
(the "Premises
The Premises includes all buildings and other improvements now or in the future on the Premises and all rights and interests
which derive from our ownership, use or possession of the Premises and all appurtenances thereto.
LOAN: The Mortgage will secure your loan in the principal amount of 38, 000.00 or so much thereof as may be
advanced and readvanced from time to time to KEITH L ANDERSON
MERTA R ANDERSON and
the Borrower(s) under the Home Equity Credit Line Agreement
and Disclosure Statement (the "Note dated 03/30/2001 plus interest and costs, late charges and all other
charges related to the loan, all of which sums are repayable according to the Note. This Mortgage will also secure the performance
of all of the promises and agreements made by us and each Borrower and Co- Signer in the Note, all of our promises and
agreements in this Mortgage, any extensions, renewals, amendments, supplements and other modifications of the Note, and any
amounts advanced by you under the terms of the section of this Mortgage entitled "Our Authority To You." Loans under the Note
may be made, repaid and remade from time to time in accordance with the terms of the Note and subject to the Credit Limit set
forth in the Note.
OWNERSHIP: We are the sole owner(s) of the Premises. We have the legal right to mortgage the Premises to you.
Page 1 of 3 Initlale• __•u
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696£05L NVO1
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087Z508
LOAN 7503969
is not enough to pay off what we owe you, we will still owe you the difference which you may seek to collect from us in
accordance with applicable law. In addition, you may, in accordance with applicable law, (i) enter on and take possession of the
Premises; (ii) collect the rental payments, including over -due rental payments, directly from tenants after simply notifying them
first class mail to make rental payments to you; (iii) manage the Premises; and (iv) sign, cancel and change leases. We agree that
the interest rate set forth in the Note will continue before and after a default, entry of a judgment and foreclosure. In addition, you
shall be entitled to collect all reasonable fees and costs actually incurred by you in proceeding to foreclosure, including, but not
limited to, reasonable attorneys fees and costs of documentary evidence, abstracts and title reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the rents of the
Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take possession of and manage the Premises
and collect the rents of the Premises including those past due after simply notifying them by first class mail to make rental
payments to you.
WAIVERS: To the extent permitted by applicable law, we waive and release any error or defects in proceedings to enforce this
Mortgage and hereby waive the benefit of any present or future laws providing for stay of execution, extension of time,
exemption from attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this Mortgage. Until the Note
has been paid in full and your obligation to make further advances under the Note has been terminated, the provisions of this
Mortgage will be binding on us, our legal representatives, our heirs and all future owners of the Premises. This Mortgage is for
your benefit and for the benefit of anyone to whom you may assign it. Upon payment in full of all amounts owing to you under
the Note and this Mortgage, and provided any obligation to make further advances under the Note has terminated, this Mortgage
and your rights in the Premises shall end.
NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any notice to us provided for in
this Mortgage shall be given by delivering it or by mailing such notice by regular first class mail addressed to us at the last
address appearing in your records or at such other address as we may designate by notice to you as provided herein, and (b) any
notice to you shall be given by certified mail, return receipt requested, to your address at
AMERICA'S WHOLESALE LENDER
4500 PARK GRANADA, CALABASAS, CA 91302 -1613
or to such other address as you may designate by notice to us. Any notice provided for in this Mortgage shall be deemed to have
been given to us or you when given in the manner designated herein.
RELEASE: Upon payment of all sums secured by this Mortgage and provided your obligation to make further advances under the
Note has terminated, you shall discharge this Mortgage without charge to us, except that we shall pay any fees for recording of a
satisfaction of this Mortgage.
GENERAL: You can waive or delay enforcing any of your rights under this Mortgage without losing them. Any waiver by you
of any provisions of this Mortgage will not be a waiver of that or any other provision on any other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above written.
WITNESS:
STATE OF WYOMING,
by
COUNTYOF STATE OF
LINCOLN WYOMING
My Commission Expires 3 Z.5,. -.02.
Mortgagor: KEITH L ANDERSON
My Commission Expires: Mar ch 25 2 0 0 2
HELOC WY ?ort4gij,IDA N. NEWMAN NOTARY PUBLIC
2C6203WY (09/8
Y/Aje )(7,./17-,
(person acknowledgi
Notary Public
Page 3 of 3
MERTA R ANDERSON
Lincoln Countyss:
The foregoing instrument was acknowledged before me this 30th day of March, 2001
Keith L. Anderson and Merta R. Anderson (date)
1
(SEAL)
(SEAL)
(SEAL)
Mortgagor:
(SEAL)
Mortgagor:
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0872508
Doc ID #000750396935075
The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such
parcels and certain common areas and facilities, as described in
THE COVENANTS, CONDITIONS, AND RESTRICTIONS FILED OF RECORD
THAT AFFECT THE PROPERTY
(the "Declaration The Property is a part of a planned unit development known as
STAR VALLEY RANCH
(the "PUD The Property also includes Borrower's interest in the homeowners association or equivalent entity
owning or managing the common areas and facilities of the PUD (the "Owners Association and the uses,
benefits and proceeds of Borrower's interest.
PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
Borrower and Lender further covenant and agree as follows:
A. PUD Obligations. Borrower shall perform all of Borrower's. obligations under the PUD's Constituent
Documents. The "Constituent Documents" are the (i) Declaration; (ii) articles of incorporation, trust instrument or
any equivalent document which creates the Owners Association; and (iii) any by -laws or other rules or
regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments
imposed pursuant to the Constituent Documents.
B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance
carrier, a "master" or blanket" policy insuring the Property which is satisfactory to Lender and which provides
insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards
included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes
and floods, for which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the
Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii)
Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed
satisfied to the extent that the required coverage is provided by the Owners Association policy.
What Lender requires as a condition of this waiver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by
the master or blanket policy.
In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss
to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby
assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security
Instrument, whether or not then due, with the excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the
Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of
coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to
Borrower in connection with any condemnation or other taking of all or any part of the Property or the common
areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be
paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as
provided in Section 11.
E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior
written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the
PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or
other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any
provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) termination
of professional management and assumption of self- management of the Owners Association; or (iv) any action
which would have the effect of rendering the public liability insurance coverage maintained by the Owners
Association unacceptable to Lender.
[Name of Planned Unit Development]
®7R (0008) CHL (08/00).01 Page 2 of 3
Initials:
14:3
Form 3150 1/01
087` 14 4
Doc ID #000750396935075
F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them.
Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by
the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from
Lender to Borrower requesting payment.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider.
4170 -7R (0008) CHL (08/00).01
KEITH L ANDERSON
(Seal)
Borrower
(Seal)
Borrower
(Seal)
Borrower
Page 3 of 3 Form 3150 1/01