HomeMy WebLinkAbout865299RECORDATION REQUESTED BY:
First National Bank West
PO Box 6003
Evanston, WY 82931
WHEN RECORDED MAIL TO:
First National Bank —West
PO Box 6003
Evanston, WY 82931
SEND TAX NOTICES TO:
First National Bank —West
PO Box 6003
Evanston, WY 82931
Bo a ftet.EAse p,,
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This Mortgage
SEE BBH�(. �JF MGRT6Af ES
FAiE
65299
which has the address of 80 HIALEAH COUNTY ROAD 405, AFTON, Wyoming 83110 "Property Address
nn RECEIVED
00 APR 1 1 :t
till I alums e �t�.:'si
I�CPu i�r�CRER. V,'YQtylING
BOOK 41 _PR PAGE_._....._.,.. 6
[Space Above This Line For Recording Data]
MORTGAGE
THIS MORTGAGE "Security Instrument Is given on April 7, 2000. The mortgagor Is KOLBY A ERICKSON and DANIELA R VIAS, Kolby
A. Erickson, a single man, Daniela R. Vias a single woman, "Borrower This Security Instrument Is given to FIRST NATIONAL.
BANK WEST -AFTON BRANCH, which is organized and existing under the laws of the United States of America and whose address Is P.O.
BOX 1620, 314 WASHINGTON STREET, AFTON, WY 83110 "Lender Borrower owes Lender the principal sum of Seventy Five Thousand Six
Hundred Sixty 00/100 Dollars (U.S. $75,660.00). 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 May 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 3, Hialeah Subdivision, according 10 the plat of record in the Office of County Clerk, Lincoln County, Wyoming.
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."
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. Borrower warrants and will defend generally the title to the
Property against all claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to
constitute a uniform security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on
the debt evidenced by the Note and any prepayment and late charges due under the Note.
2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly
payments are due under the Note, until the Note is paid in full, a sum "Funds for: (a) yearly taxes and assessments which may attain priority over this
Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property
insurance premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable by
Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called
"Escrow Items" Lender may, at any;tl[ne, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related
mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to
time, 12 U.S.C. Section 2601 et seq. "RESPA unless another law that applies to the Funds sets a lesser amount. If so, Lender may, at any time,
collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of current data and
reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with applicable law.
The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is
such an Institution) or In any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items. Lender may not charge Borrower for
holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
Funds and applicable law permits Lender to make such a charge. However, Lender may require Borrower to pay a one -time charge for an
independent real estate tax reporting service used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an
agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds.
Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual
accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are
pledged as additional security for all sums secured by this Security lnstrument.
If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for the excess Funds in
accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any time is not sufficient to pay the Escrow Items
when due, Lender may so notify Borrower In writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency.
Borrower shall make up the deficiency in no more than twelve monthly payments, at Lender's sole discretion.
WYOMING Single Family Form 3051 9/90
Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
(page 1 of 4 pages)
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04-07 -2000 FNMA/FHLMC MORTGAGE
Loan No �'A��� (Continued)
for damages, Borrower fails to respond to Lender within 30 days after the date the notice Is given, Lender is authorized to collect and apply the
proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the
monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for 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 successors 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.
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 17. 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. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally
interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any
such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from
Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under
the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
prepayment charge under the Note.
14. 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 other 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.
15. Governing Law; Severabllity. 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.
16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if
a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its
option, require immediate payment In full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if
exercise is prohibited by federal law as of the date of this Security Instrument.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from
the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these
sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on
Borrower.
18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security
Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale
of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument.
Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as If no
acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security
Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien
of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue
unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no
acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17.
19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or
more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer that collects monthly payments
due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there
is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The
notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any
other information required by applicable law.
20. 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 the 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 Substance affecting
the Property Is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
As used in this paragraph 20, "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, ;qnd radioactive materials. As used in this paragraph 20, "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:
21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or
agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice
shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to
Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified In the notice may result
in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further Inform Borrower of the right
to reinstate after acceleration and the right to bring a court action to assert the non existence of a default or any other defense of Borrower to
acceleration and sale. If the default Is not cured on or before the date specified In the notice, Lender at its option may require immediate
payment In full of all sums secured by this Security Instrument without further demand and 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 21, 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
14. Lender shall publish the 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
0' 18
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Kolby A Ericson
MPP 210 -B (Revised 12/95)
MORTGAGE ADDENDUM
020
The following• is an Addendum to the Mortgage. The addendum shall be
incorporated into, and recorded with, the Mortgage.
TAX EXEMPT FINANCING RIDER
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:
a) All of part of the Property sold or otherwise 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 properly
as a principal resident within a reasonable time after the sale
or transfer, all as provided in Section 143(c) and (i) (2) of the
Internal Revenue Code; or
ii) 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 (i) (2) of the Internal Revenue Code; or
iv) Whose family income exceeds applicable income limits as
provided in Section 143(f) 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
Daniela R Vias