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HomeMy WebLinkAbout966099After Recording turn To: We Fargo ank, N.A. Attn: D ent Mgt. P.O. Bo MAC 6955 -013 Billings, MT 59107 -9 0 AFTER RECORDING, RETURN TO: AMERICAN TITLE, INC. P.O. BOX 641010 OMAHA, NE 68164 -1010 ATI# c: 0 Ole R.Wq RECEIVED 8/10/2012 at 3:29 PM RECEIVING 966099 BOOK: 791 PAGE: 306 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording Data] Reference Number: 20121509700046 Account number: 682 -682- 0978728 -1XXX SHORT FORM LINE OF CREDIT MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below. The Master Form Mortgage includes other defined words and rules regarding the usage of words used in this document. O3O6 (A) "Security Instrument" means this document, which is dated JULY 13, 2012, together with all Riders to this document. (B) "Borrower" is TIMOTHY A. ALLRED AND CYNTHIA ALLRED, A NON VESTED SPOUSE, HUSBAND AND WIFE. Borrower is the mortgagor under this Security Instrument. (C) "Lender" is Wells Fargo Bank, N.A.. Lender is a National Bank organized and existing under the laws of the United States of America. Lender's address is 101 North Phillips Avenue, Sioux Falls, SD 57104. Lender is the mortgagee under this Security Instrument. (D) "Debt Instrument" means the loan agreement or other credit instrument signed by Borrower and dated JULY 13, 2012. The Debt Instrument states that Borrower owes Lender, or may owe Lender, an amount that may vary from time to time up to a maximum principal sum outstanding at any one time of, THREE HUNDRED TWENTY -FIVE THOUSAND AND 00 /100THS Dollars (U.S. $325,000.00) plus interest. Borrower has promised to pay this debt in Periodic Payments and to pay the debt in full not later than seven (7) calendar days after August 13, 2042. (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means all amounts owed now or hereafter under the Debt Instrument, including without limitation principal, interest, any prepayment charges, late charges and other fees and charges due under the Debt Instrument, and also all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: WYOMING -SHORT FORM OPEN -END SECURITY INSTRUMENT (page of pages) HCWF#4818 -6698 -6241 v2 (02/21 /09) IIIIIIIIIIINNIIIIIIRI !111IIIIIIIIIIIIIIIIIIIIIIIIIIII Documents Processed 07- 12- 2012, 09:15:52 N/A N/A N/A Leasehold Rider Third Party Rider Other(s) [specify] (14) "Master Form Mortgage" means the Master Form Line of Credit Mortgage dated August 14, 2007, and recorded on August 30, 2007 as Instrument No. 932651 Book 670 at Page 599 609 of the Official Records in the Office of the Recorder of Lincoln County /City, State of Wyoming. TRANSFER OF RIGHTS IN THE PROPERTY MASTER FORM MORTGAGE This Security Instrument secures to Lender: (i) the repayment of the Loan, and all future advances, renewals, extensions and modifications of the Debt Instrument, including any future advances made at a time when no indebtedness is currently secured by this Security Instrument; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Debt Instrument. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the County THAYNE [City] N/A of Lincoln [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] THE FOLLOWING DESCRIBED REAL ESTATE, SITUATE IN LINCOLN COUNTY AND STATE OF WYOMING, TO WIT:LOT THIRTEEN (13) OF THE SHOOTING STAR SUBDIVISION, LINCOLN COUNT, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT NUMBER 364 FILED JULY 18, 1995 AS INSTRUMENT NUMBER 805315 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. which currently has the address of 630 SHOOTING STAR DRIVE Wyoming [Street] 83127 [Zip Code] 0©30? "Property Address TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." The Property shall also include any additional property described in Section 20 of the Master Form Mortgage. 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 as of the execution date of this Security Instrument. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. By the execution and delivery of this Security Instrument, Borrower agrees that all of the provisions of the Master Form Mortgage are hereby incorporated in their entirety into this Security Instrument. Borrower agrees to be bound by and to perform all of the covenants and agreements in the Master Form Mortgage. A copy of the Master Form Mortgage has been provided to Borrower. WYOMING -SHORT FORM OPEN -END SECURITY INSTRUMENT (page 2 of pages) HCWF 144818 -6698 -6241 v2 (02/21/09) 1111111111111111111111111111111111111111111111111 Documents Processed 07 -12 -2012, 09:15:52 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Borrower also acknowledges receipt of a copy of this document and a copy of the Master Form Mortgage. TIMOTH A. ALLRED L Borrower For An Indi idual Acting In His /Her Own Right: State of (i(C)V }'l, i County of L4 nac This instrument was acknowledged before me on by it ck (name(s) of persons). (Seal, if any) TERRECE SIDDOWAY NOTARY PUBUC County of State of Uncoln 1, r'' Wyoming Commission Tres Ju 27, 2015 My 0030g sion Expires: WYOMING -SHORT FORM OPEN -END SECURITY INSTRUMENT (page 3 of 3 pages) HC W F #4818 -6698 -6241 v2 (02/21/09) 111111111111111111111111111111111111111111111111 Documents Processed 07 -12- 2012, 09:15:52