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HomeMy WebLinkAbout866281RELEASE 0 ,(J)) This Mortgage SEE 8640LitF tAORT8REEE N FHA Wyoming Mortgage D tY1 VTY 11/16/99 Page l of 7 866281 MORTGAGE BOOK. .•._PR PAGE 7 2 RECEIVED 00 JU a 7 PH (Space Above This Line For Recording Data) LAST SNIVELY Loan Number SNIVELY Case Number 591 0872603 I;EMMERE R IViYOMItJG THIS MORTGAGE "Security Instrument is given on JUNE 6, 2000 The mortgagor is DUSTIN R. SNIVELY AND TIFFANY J. SNIVELY, HUSBAND AND WIFE "Borrower This Security Instrument is given to COMMUNITY FIRST NATIONAL BANK which is organized and existing under the laws of and whose address is 200 NORTH CENTER STREET ROCK SPRINGS, WY 82901 "Lender Borrower owes Lender the principal sum of FORTY FIVE THOUSAND NINE HUNDRED FORTY ONE AND 00 /100 Dollars (U.S. $45,941.00 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, 2030 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 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: LOT 6, OF BLOCK 2 OF THE AMENDED PLAT BROWN'S 1ST ADDITION TO THE TOWN OF LABARGE, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. which has the address of 433 SOUTH ELM STREET, LABARGE [Street] [City] Wyoming 83123 "Property Address [Zip Code] 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." Initials: Ilk .s L30 z abe 66 /9T /TT WI,'VXMLWoa ZAMZnDOa agekaomi 21qmoim VH3 •Japua'i `o1 otgeldaoou uuoj u ui pug `3o Jonu3 ut sasnttto atqu,(i d ssoj apnToUt Buts pug Japua'1 /(q plaq aq Huns sigma= ,Cuff pug saiotiod aougmsut aq,I, •JapuaZ Aq panoJddu satuedtuoo 41tt pauJeo aq Huts aougmsut iiv •,(.telaJOas ati (q paitnbaJ mom ay1 of spooij Act ssoi isutm u 'poloai ,CTiuonbasgns Jo aoualstxa ut Mou JaglagM `/CiJadold 041 uo sluauianoadult iii alnsut ow hulls JamoJJOg •sannba.t Japuaj 1I41 spouad aqi Joj pug slunouig am ut pautglutuut oq Hulls aougmsut sty,L •aougmsut saitnbaj Japuai collie Jo3 'aiij utpniout `satouautluoo puE `sauiuns10 `sptuzgq Attu istuOu 'pomp Ajuanbasgns J0 aoualstxa uI Mou .IaglagM `,CpadoJd ayl uo sluauJanoadutt jIu ainsut Hugs Jamouog •aaueansui tumuli aagj0 pun poold 'aat3 •1' •aloN am Japun anp saJEi° alai 01 `t13td pug °a1oN ay13o iudtouud ay13o uourzuJoum 01 Vinod `.a10N am Japan anp Isamu! 01 lama `.paJtnba1 su'sum aougmsut pJgzut Jaglo pug poo13 `aJt3 pug `slugs puno12 10 sivam/(gd piogasuot `sluautssassE moods `saxul ,Cum 01 `puooas !tuntma.1d aougmsut aM1Jou /Citluotu agi 3o pualsut kimonos ail Act amp /CTgluotu ag1 01 J0 ,(Jg10J32S all 01 Japua'i Act mud aq o1 =tumid aougmsut a uSuout 041 01 '1sutd :smotto3 sg Japua'1 Act patiddi aq imp Z pug i sgdmituird Japan sluau,Cud ii' •sluatuSud Jo uoi;uailddV •(o) pug `(q) `(g) smolt Joj sluatuttrisut Titt Joj Sututguzai aougiuq Aug tltm paltpo aq imp lun000u S JJOg 'Japual ,(q uoutsinbou slt Jo AiJadOJd ag1 3o aims amsojoaao3 a 03( .loud ,Ctalutp2uuulj JaMOJJOH of spunj ssaoxa Aug pun3p1 /Cpduoid Timis Japua'1 pug 'kimonos aril 01 Attd of palattgo uooq log sett Japaa- lmyl luawj stt tun 2ou1lnsut oguRpotu ,(ue putt (o) putt `(q) `(m) smolt luauAuisut Hu 10j 2ututuuai aouiiuq ayl mtM paltpato 2q iiegs iun000i mamoJJog 'stuns tons Hu 3o 1uam,CEd Hn3 ay1 Japua7 01 s1apual JOMOJJOg 31 •luatunJlsuj /(ltmoas sun Aq pampas stuns itg 103 ,C1!Jnoas jguoiltppu su pa8paid a1g spund m0JOSg ota •ddsau nq po iuiod sr a$uJots 041 do mitt 01 JOMOZtog gimbal pug Jamoiiog 041Avon ,Cvu Japuo -1 `anp uagt small Motosg ag1 /Cud 01 1ua!Ot33ns 1ou ore amts Attu lu .iopua'I ,Cq piaq spunj 3o slunoug 2 42 ji •vdsgu ,(q ponnbai su spunj ssaoxa 041 Jo3 .IOMOJ OH 01 lun000g Hugs Japua-i `vdsa i' q Plaq oq 03 pail ?uuad slunomu at1 p0033C a SWOIJ MoJOSg Joj Japua'I /(q p104 Slunotuu 0413I nntuajd aouuJnsut a2E2ltom ayl Joj onp slunomu uo pasmq oq 1ou /(uu lun000u 041 ut atquitunE OJE Slu0m,Cid S.IOMO.uog a41 aaopq sluauasJngstp Jo sluauasIngstp pa1Edtopuuun Joj Ndsga 4 P011tuJad anJasat Jo uotgsno 041 1m41 ld0oxa „ydsau amp 01 amts U1013 popuamg aq ,(um Xat1 sm `OOS£ 1md NdD bZ `suotlminat Sutluamaidmt pug .bas 7 T09Z 'x'S'I1 ZT `t7L6I 30 13d sampaooId 1Uam0T11as alulsg Tuag ail Japan lun000u mama s,JaMOJJOg J03 panlnboi aq ,Cum 3g41 lunotun umuuxnm 041 paaoxa 03 30U lunomg 21eaJ Su uu ut sualj MOJOS,g Joj wino= Nog pue potion 'amp ,Cum 1E 'Amu 3apuo -1 „•spund Molosg„ p0juo ale Japu0i 01 mud suns alp pug „smog MoJOS3„ poutto on small 25241 'Almon 041 ,(q Amp ANtpuom 241 Jo3 ldaoxg •,CJg201O0s 041 ,(q pautuJalap oq o1 lunoup otgiuosuoi gut `,(Jnlaloas 041 ,Cq Nog st lUOUJI1t;suj ,Cltmoos stye 3t mntuoid 02U 1nsut att$1JOm n 3o !maim! Arno ,CIgluou g (n) J0 `,(Jmla1OOS 041 01 Japuoi Cq mud aq o1 tuntuaid aougmsut auSuout tunuug 041 Joj tuns g (t) :JOglia apnjout osTg Heys lu0miud ,(Tyluou yoga `luaunalsuj Xluno0s 0y1 P1 Lips Japua -I 3t poitnbai uooq ang4 mom mniuuoid tons tot4M ut Jma,C Aug ut Jo „,(JelaJOoS luaudojanac uigin pug SutsnoH jo kimonos 043 01 tunimaid aougmsut oRi Tom g ,(Ed lsnm Japua'1 241 4ot4M ut Jga,C ,(ui uj 17 gduuSiugd .iapun pattnba.t 2OUEmsut Jo3 suniuoid (o) pup `,C1Jadold 041 110 smuai puno12 Jo sluam iid pimps (q) `,(1JadoJd 041 lsuiggg patna1 oq O1 10 painat sluaussassu moods pup sox (u) Joj tuns u `s2 n qo opt ,(um puE OIoN all ut quo; los Su 1sa.ialut pun j1d?Ouud 241 tItM J0412B01 `luam,(gd /CIyluom gaga ut apnjout huts JomoiJOH •sagaegD aat{l0 pue 'aaunansuj 'saxey 3o juatuSud ,flgjuoysi •Z •aloN 041 Japan anp saJm40 ajgj puE oloN 041 ,Cq paouaptna iqop 041 `1.10 lsalalut pug '3o Tedtouud 241 anp ua4M ,Cud Tints JOMOJJOg Amnia am pue jsaaajuj'ledlaulad 3o juaul/(ed •I :sMoIo3 sg 0OJ2u pun lueuanoo Japua'1 pug JoMOnOg 'S1NvNaAOJ NRIOdI■n •,iiiadoid Tea! SuTOnoO luamnJlsut /iltmOas mlojtun m alnitlsuoo 01 uopotpsiJnf ,(q suo13EIJEn mum' 4liM siuguanoo tuJo31un -uou pip asn iguot1EU Joj S1u2U2nOO uuo3[un s2utquoo J N n1I.LSNI AL11II1D S SIH,I, pl000l jo saouniqunoua ,ium 011oofgns `spuutuap putt stump Hu 1SU!dm ,ClJadozd 041 01 01111 241 AtiuJOU pu23ap 'gm puE siuRJJEM JOMO•UOg p10001 3o SOODUJgwnou2 Joj 1d2Oxa `paJagmnouaun st ,(padoid 241 1u41 pug /(Uado1d 043 ,(anu0O pug 1uuJ2 `o g21Jom 03 142u 041 smt pug pa,ianu0O Along 01E1sa 041 jo pastas XIIn3Akui SI J3M0B0 1E41 S1NVNdAOD 2IdMO211IO1{ 086 723 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 (or within sixty days of a later sale or transfer of the Property) and shall 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 unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall notify Lender 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 provision 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. 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. 7. 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 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. 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, and at the option of Lender shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying 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 notice. FHA Wyoming Mortgage DOCU2WY3 DOCU2WY3.VTX 11/16/99 Page 3 of 7 Initials: L 3o q and •,Cpatuas JO up.' 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Zi `Z861 3o 13y suopnlpsui XJo1IsodOQ urntu10D 1S -u1eO 0 413 0 (p) ib£ uonoas 8uipnpui) mu! atquoiiddu ,Cq palliuuod 3i hugs lapual •isnoaddy InogitM aIRS (q) :j! luatmalsui Alpnonn s141 Aq pampas sums qu jo lin3 u1 luawAud aleipatuun aatnbaa 'atrium tuatu1ied jo asuo 041 ui kimonos 041 Aq panssi suoilein8al Aq paquiq se ldaoxa 'Aeuz aapual •iinspaii (s) •igau 3o uolsaaiaaay ao3 spunoa9 •6 kimonos 041 Aq paziaoglnu sagmgo pus saa3 1001100 Amu aapual •saag •g IN 9 S O k) 4 ='L 725 12. 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 9(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. 13. 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. 14. 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 provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous 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 of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which 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 shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. 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 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 17. 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Witnesses (Seal) Borrower STATE OF WY COUNTY OF LINCOLN The foregoing instrument was acknowledged before me by DUSTIN R. SNIVELY AND TIFFANY J. SNIVELY, HUSBAND AND WIFE this 6TH day of JUNE, 2000 My Commission expires: January 11, 2004 LAURIE McKEE NOTARY PUBLC COMITY 'OF r i' STATE OF LNICOLN WOMB FHA Wyoming Mortgage DOCU2WY7 DOCU2WY7.VTX 11/16/99 ss. Page7of7 DUSTIN R. SN /VELY TI 1z 4 ,44 4: NIVELY N. ary Public 727 (Seal) Borrower (Seal) Borrower (Seal) Borrower Initials: MORTGAGE ADDENDUM TAX EXEMPT FINANCING RIDER 728 The following is an Addendum to the Mortgage. The addendum shall be incorporated into, and recorded with, the Mortgage. This Tax Exempt Financing Rider is incorporated into and shall be deemed to amend the terms of the Mortgage to which it is attached. In addition to the covenants and agreements made in the Security instrument, Borrower and Lender further covenant and agree as follows: Lender, or such of its successors or assigns as may, by separate instrument, assume responsibility for assuring compliance by the Borrower with the provisions of this Tax Exempt Financing Rider, may require immediate payment in full of all sums secured by this Security Instrument if: aj All of purl of the Property suld or utherwise transferred (other than by devise, descent or operation of law) by Borrower to a purchaser or other transferee: i) Who cannot reasonably be expected to occupy the property as a principal resident within a reasonable time after the sale or transfer, all as provided in Section 143(c) and (1) (2) of the Internal Revenue Code; or 11) Who has had a present ownership interest in a principal residence during any part of the three year period ending on the date of the sale or transfer, all as provided in Section 143(d) and (i) (2) of the Internal Revenue Code; or iii) At an acquisition cost which is greater than 90 percent of the average area purchase price (greater than 110 percent for targeted area residences), all as provided in Section 143(e) and (1) (2) of the Internal Revenue Code; or iv) Whose family income exceeds applicable income limits as provided in Section 143(1) and (i) (2) of the Internal Revenue Code. b) Borrower fails to occupy the property described in the Security Instrument without prior written consent of the lender or its successors or assigns described at the beginning of this Tax Exempt Financing Rider, or c) Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Internal Revenue Code in an application for the loan secured by this Security Instrument. References are to the Internal Revenue Code as amended, in effect on the date of execution of the Security Instrument and are deemed to include the implementing regulations. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax Exempt Financing Rider. Borrower Bo MPP 210 -B (Revised 12/95)