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RECEIVED
WCDA DOWN PAYMENT LOAN MORTGAGE -INC 'C`)'111TY C E
86679 00 JU 30 1i °I t I
Loan umber: 0007689375
JEANNE v, ,l .1`
This Mortgage "Security Instrument is given on June 28 2000 KEMMERER, WYOMING
The Mortgagor is CHARLES A VAN SLYKE, JR. and ANITA VAN SLYKE, husband and wife
whose address is 172 WILLARD AVE. AFTON, WY 83110
"Borrower"). This Security Instrument is given to F I rst Secur i ty Bank N.A.
which is organized and existing under the laws of The United States of America
and whose address is 485 WashingtonAfton, WY 83110
"Lender"). Borrower owes Lender the principal sum of
Five Thousand, Five Hundred Fifty and No /100
Dollars 5,550.00 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 July 1 2008 .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 LINCOLN
County, Wyoming:
LOTS 6 AND 7 OF THE HALE ADDITION TO THE TOWN OF AFTON, LINCOLN COUNTY, WYOMING AS
DESCRIBED ON THE OFFICIAL PLAT THEREOF.
which has the address of 172 WILLARD AVE. AFTON
83110
[ZIP CODE]
[PROPERTY ADDRESS]
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.
1. Payment of Principal, Interest, Default Interest and Late Charges. Borrower shall pay
when due the principal of, and interest on, the debt evidence 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.
MPP -219 Page 1 of 5 Pages
I.T. 9/97
WCDA219A
0366
0007689375
MPP -218
I.T. 9/97
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.
124
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 Toss 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 hereto.
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 requirement will cause undue hardship for
Borrower, or unless extenuating circumstances exist which are beyond Borrower's control. 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 other items mentioned in Paragraph 2.
Page 2 of 5 Pages
WCDA219B
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10. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the
time of payment or modification of amortization of the sums secured by this Security Instrument
granted by Lender to any successor in interest of Borrower shall not operate to release the liability of
the original Borrower or Borrower's successor in interest. Lender shall not be required to commence
proceedings against any successor in interest or refuse to extend time for payment or otherwise
modify amortization of the sums secured by this Security Instrument by reason of any demand made
by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in
exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or
remedy.
11. Successors and Assigns Bound; Joint and several Liability; Co- Signers. The
covenants and agreements of this Security Instrument shall bind and benefit the successors and
assigns of Lender and Borrower, subject to the provisions of Paragraph 8.b. Borrower's covenants
and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but
does not execute 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 (c) agrees that Lender
and any other Borrower may agree to extend, modify, forbear or make any accommodations with
regard to the terms of this Security Instrument or the Note without that Borrower's consent.
12. Notices. Any notice to Borrower provided for in this Security Instrument shall be given
by delivering it or by mailing it by first 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 class mail to Lender's
address stated herein or any address Lender designates 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.
13. Governing Law; Severability. 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 Instrument or the Note conflicts with applicable law, such conflict shall not
affect other provisions of this Security Instrument or the Note which can be given effect without the
conflicting provision. To this end the provision of this Security Instrument and the Note are declared
to be severable.
14. Borrower's Copy. Borrower shall be given one conformed copy of this Security
Instrument.
15. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the
rents and revenues of the Property. Borrower authorized Lender or Lender's agents 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 Borrower'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 assignment 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 trustee for benefit of Lender only, to be applied to the sums secured by the Security
Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c)
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.
Borrower 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 15.
Lender shall not be required to enter upon, take control of or maintain the Property before or
after giving notice of breach 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 debt secured by the Security Instrument is paid in full. The Lender or a judicially
appointed receiver shall not be required to post any bond or other security to enter upon, take control
of or maintain the property.
MPP-219 Page 4 of 5 Pages
I.T. 9/97
WCDA219D
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