HomeMy WebLinkAbout868578AFTER RECORDING MAIL TO:
Major Mortgage
2020 Carey Ave
Cheyenne, WY 8 2001
This document is being recorded
by Southwest Title Company
as a courtesy only.
OFFRET. D2 AF
STATE OF WYOMING
060579
[Space Above Thls Line For Recording Data]
WCDA DOWN PAYMENT LOAN MORTGAGE
RECEIVED
This Mortgage "Security Instrument is given ofi e p t e m b e r 1 5, 2 0 0 0 The Mortgagor is
Dale Offret Jr and Erin Offret, Husband and Wife
BOOK PR PAGF, t 3 3
Loan Number: 0 6 1 2 6 4
whose address is53 Adams Street,Afton,WY 83110
"Borrower This Security Instrument is given tdlajor Mortgage, A
Wyoming Corporation
which is organized and existing under the laws ofW y o m i n g
and whose address is2 0 2 0 Carey Ave, Cheyenne, WY 8 2001
"Lender Borrower owes Lender the principal sum of
Four Thousand Two Hundred Dollars and no /100
Dollars 4 2 0 0 0 0 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 October 1 2 0 0 8 This Security Instrument secures to Lender: (a)
the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications; (b) the
payment of all other sums, with interest, advanced under Paragraph 6 to protect the security of this Security
Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the
Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the following
described property located in L i n c o 1 n County, Wyoming:
Part of Lot 1 of Block 29 to the Town of Afton. Lincoln County, Wyoming
being more particularly described as follows: BEGINNING at a point 5
rods and 12 1/2 feet South of the Northeast corner of said Lot 1: thence
South 4 rods and 4 feet; thence West 6 rods: thence North 4 rods and 4
feet: thence East 6 rods to the POINT OF BEGINNING.
which has the address of 530 Adams Street Afton
[Street] [City]
Wyoming 8 3 1 1 0 ("Property Address
[Zip Code]
WCDA DOWN PAYMENT LOAN MORTGAGE
MPP -219 (01/94)
PAGE 1 OF 4
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights,
appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all 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."
BORROWER COVENANTS that 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 unencumbered, except for encumbrances of record.
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
encumbrances of record.
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1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest
on, the debt evidenced by the Note, default interest, if applicable, and late charges due under the Note.
2. Payments of Taxes, Insurance and Other Charges. Borrower shall make timely payment of any (a) taxes
and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the
Property, and (c) premiums for insurance required by Paragraph 4. The Borrower shall furnish proof of payment to
Lender upon request by the Lender.
3. Application of Payments. All payments under Paragraphs 1 and 2 shall be applied by Lender as follows:
FIRST to interest due under the Note;
SECOND, to amortization of the principal of the Note;
THIRD, 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 insurance shall be maintained in the amounts and for the periods that Lender requires.
Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected,
against loss by floods to the extent required by the Lender. All insurance shall be carried with companies approved by
Lender. The insurance policies and any renewals shall include loss payable clauses in favor of, and in a form
acceptable to, Lender. Borrower shall furnish a copy of the policy or policies of insurance to the Lender upon request
by the Lender.
In the event of loss, Borrower 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. All or any part of the insurance proceeds
may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and this Security
Instrument, first to any delinquent amounts applied in the order in Paragraph 3, and then to prepayment of principal, or
(b) to the restoration or repair of the 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 change the amount
of such payments. 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 entity legally entitled thereto.
In the event of foreclosure of this Security Instrument 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 Security Instrument and shall continue to occupy the Property as Borrower's principal
residence for at least one year after the date of occupancy, unless the Lender determines this requirerrfbnt will cause
undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control.
Borrower shall notify Lenders of any extenuating circumstances. Borrower shall not commit waste or destroy, damage
or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender
may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable
action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower,
during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to
provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not
limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security
Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the
Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.
6. 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 directly 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 perform 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 a proceeding in bankruptcy,, for condemnation 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 pthar items mentioned in Paragraph 2.
Any amounts disbursed 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,
or the default interest rate, and at the option of the Lender, shall be immediately due and payable.
7. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby
assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the
Note and this Security Instrument. Lender shall 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 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 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.
WCDA DOWN PAYMENT LOAN MORTGAGE
MPP -219 (01/94)
PAGE 2 OF 4
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OFFRET, D2 AF
NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
16. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 8, Lender may invoke
the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses
incurred in pursuing the remedies provided in this Paragraph 16, 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 Paragraph 12. Lender shall publish notice of sale, and the Property shall be sold in
the 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
per§ons legally entitled to it.
17. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instrument without charge to Borrower. Borrower shall pay any recordation costs.
18. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of
curtesy and dower in the Property.
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 Security Instrument as if the rider(s) were in a part of this Security Instrument.
[Check applicable box(es)]
Condominium Rider fl Graduated Payment Rider n Growing Equity Rider
Planned Unit Development Rider Other [Specify] E Other [Specify]
BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in pages 1 through 4 of this Security
Instrument and in any rider(s) executed by Borrower and recorded with it.
Witnesses:
STATE OF WYOMING,L i n c o l n
County ss:
The foregoing instrument was acknowledged before me this 15th day of September, 2000
by Dale Offret Jr and Erin Offret, Husband and Wife
My Commission expires: January 11, 2004
LAURIE McKEE NOTARY PUBLIC
COUNTY OF t` STATE OF
LINCOLN WYOMING
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WCDA DOWN PAYMENT LOAN MORTGAGE
MPP -219 (01/94)
PAGE4OF4
LOAN NO. 0 6 1 2 6 4
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Dale Offret \jlp' 1Seaq
orrower
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Borrower
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orrower
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