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HomeMy WebLinkAbout865357pemsAms )op h /2 is Mortgage SEf 88OK /'c';If IMAM t/ P y .�r HID Mortgage Recording Dept. 332 Minnesota St., Ste 610 St. Paul MN 55101 State of Wyoming GT -15 -51 -090 (11/96) Return to: ce Servicing Corp. FEB 0 9 2000 1. DATE AND PARTIES. The date of this Mortgage (Security Instrument) is and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: ROBERT C. WAGNER and CHRISTINE WAGNER 618 SNAKE RIVER DR. ALPINE WY 83128 If checked, refer to the attached Addendum incorporated herein, for additional Mortgagors, their signatures and acknowledgments. LENDER: Conseco Finance Servicing Corp. 332 Minnesota St., Ste 610 St. Paul MN 55101 2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the. Secured Debt (defined below) and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the following described property: THE FOLLOWING DESCRIBED REAL ESTATE, SITUATE IN LINCOLN COUNTY AND STATE OF WYOMING, HEREBY RELEASING AND WAIVING ALL RIGHTS UNDER AND BY VIRTUE OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE TO WIT: LOT 74 OF RIVER VIEW MEADOWS SECOND ADDITION TO THE TOWN OF ALPINE, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF SUBJECT TO RESTRICTIONS, RESERVATIONS, EASEMENTS, COVENANTS, OIL, GAS, OR MINERAL RIGHTS OF RECORD, IF ANY. The property is located in LINCOLN (County) 618 SNAKE RIVER DR. ALPINE ,Wyoming 83128 (City) (ZIP Code) (Address) WYOMING MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE) 1994 Bankers Systems, Inc., St. Cloud, MN Form GTH- MTGLAZWi 12/18/96 865357 MORTGAGE (With Future Advance Clause) 15 2417835 696/133/500 38100 WYOMING RECEIVED _ING11! 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Dip Jo Lied aq `amnlnJ a41 ul awn Aue le JO `MOU AEU/ 1E41 sluawaaeldaJ puE `saJnlxlJ `saJnlan.ls `sluawanoJdwl aJnlnJ pue 6ul1slxa IIE puE 1I)01s JalEM puE 'saLlallp 's146!J uelJed!J puE Ja1EM IIE `s14 6U se5 pue Ilo `s14 6!,1 IEmaulw `salljEAoJ `saaueualJndde 'sluawasea `sI46p Ile 41!M Jagla6ol 8. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims and actions against Mortgagor, and of any loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases and rents, issues and profits (all referred to as "Rents Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under the terms of this Security Instrument. Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to third parties when Lender takes affirmative action prescribed by law, and that this assignment will remain in effect during any redemption period until the Secured Debt is satisfied. Mortgagor agrees that Lender may take actual possession of the property without the necessity of commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver to Lender any payment of Rents in Mortgagor's possession and will receive any Rents in trust for Lender and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Mortgagor warrants that no default exists under the Leases or any applicable landlord /tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 12. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, Mortgagor will perform all of Mortgagor's duties under the covenants, by -laws, or regulations of the condominium or planned unit development. 13. DEFAULT. Mortgagor will be in default if any party obligated on the Secured Debt fails to make payment when due. Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value of the Property is impaired shall also constitute an event of default. 1994 Bankers Systems, Inc., St. Cloud, MN Form CTH- MTGLAZWY 12/18/96 i�. 181 T -15 -51 -090 (11/96) (page 3 of 6) (90 4 abed) (96/10 060 -1 S-S L -1 381 96/8 t/Z t MAZYDIN-HID UL4O NW PnOQ 3S ''Duff .swalsAS saalue8 V66 t c •luawn3op ua!I .a410 .o luawaa.6e Ap!.n)as `,snag jo paap `a6r61.ow aopd Aue jo swaal aq1 o1 pafgns s! spaa)o.d jo luawu6!sse slgl •luawnilsul AWn)aS s!gl u! pap!no.d se pa!Iddr aq II!M pue sluawAed pa.ap!suo3 aq is spaaaoad 43ns •Alaado.d a41 jo 1.ed Aue JO IIe jo 6upje1 aa410 .o uo!lruwapuo) a 41!M papauuo) sa6ewep .oj LW!) ao parMe AuE jo spaaaoad a41 .apua3 o; su6Issr .o6e61.oiN •sw!ep .o suoll)e pagp3sap anogr a41 jo Aur u! aweu S,J06e61.OIN u! auan.alu! 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Ilegs pue `a.e `uaaq ane4 lueuaT Aaana pue .o6e61.oIN `aapua3 o1 6uppm u! pa6paIMOU)pe pue pasopslp Alsna!naad se lda3x3 •8 •Alaado.d aLp jo a)ueualu!rw pue asn iew.ou aq1 aoj alepdo.dde aq oT paz!u6o)a. AIle.aua6 a.e 1e41 sa)uelsgns snoparzEH Jo sa!1!luenb Hews o1 Alddr 1ou saop uo!ppTSaa slip •Al.adoad aq1 u! .o uo pasealaa JO paaols `pale)ol aq II!M .o s! a)uelsgns snopaezEH ou `aapua3 01 6u!1!.M u! pa6paIMOU)Pe pue pasopslp Alsno!na.d se lda3x3 :Trip saa.6e pue s1Uea.eM `sluasaadaa ao6e61.oh Me3 Ieluawuo.!nu3 AuE aapun „a3uelsgns snopaezeq „.o „a1sEM snopaeze4„ „`saauelsgns 3!xo1„ „IEpalew snopaeze4„ se pau!Jap sa3uelsgns Aue 'uo!pe1!w!I 1nog11M `sapnpu! w.a1 ag1 •TUaWUO.IAUa JO aJEJIaM A1aJrs `411ea4 )!Ignd a41 01 sno.a6Uep Allepualod .o sno.a6urp a3uelsgns agl .apuai g)!LM s)!1s!.aPr.eg) srq 4)!4M luru!wrpuo) ao lurinllod 'a1seM `Ie!.a1ew snop.eze4 ao anll)eo!pea `)!xo1 AuE sueaw a3uelsgn5 Snop.ezEH (Z) pue `a3uelsgns snop.eze4 a JO luawuoa!nua `aaejlaM 'Maps `glieaq J!lgnd aq1 6u!u.a3uo3 saalla! anpa.daalu! .o suo!u!do Ieaaua6 Aaua011e `s.apao lino) `sa)ueu!p.o `suolprin6a1 `sMel 1e3o! pue alms `IE.apaj aaglo HE pue `(•bas 1a 1096 "J'STI Zb `b'3J213J) Tab A1!i!gen pue uo!lesuadwoD `asuodsaj Iepuawuoa!nu3 an!sua4aadwoD aq1 'uollel!w!l lnogl!M `sueaw Me3 Ieluawuoa!nu3 (l) `uoipas slip u! pasn s V 'S3DNVIS /MS Sf ornlvzVH (INV SMV1 1VIN3INNOIIIAN3 '91 •asealaa 43ns jo slso) u0!lep.o)a. Aue.oj Aed o1 saa.6e.o6e61aoW •paseala. 'pun PaJJa u! u!ewa. IIe4s luawnalsul A1l.n3aS s!g1 •aapua3 a41 jo aaAoldwa pa!aelrs a .0j saaJ ,sAawollr apnpu! 1ou saop lunowe s!g1 •sasuadxa Ie6ai aagpo pue 'slso) lino) `saaj ,sAau.olTe algeuoseaa `01 pallwq 10U s! 1nq `apnpu! Aew Tunowe s!ql •luawnalsui A1l.n)aS s!qp aapun sa!pawa. pur s146!. s,.apua3 6u!paload .O 6upa0jua `6u!PaIIO) u! aapua3 Aq pa.an)u! sasuadxa pue slso) He Aed o1 saaa6e ao6e61.oIN •lgaa pa.n)aS a41 jo swaal aq1 u! pap!noad se pajja u! ale. lsaialu! 1sa46I4 ail 1r IlnJ u! pied 'nun 1uawAed Dip jo alrp alp W0JJ lsaaalu! .rag II!M sasuadxa asa41 •lsaaalu! A1l.mas s,.apua3 pue Alaado.d ag1 6upDalo.d as!M.agfo .0 6u!Nasa.d `6u3adsu! '6u!.nsu! aoj .apua3 Aq pa..mu! lunowe Aue puewap uo Aed OSIE II!M ao6e61aovN •luawn.lsul MpnDas s!ql u! Tueuano3 Aue sa43ea.g .o6e61.oW J! sasuadxa s,.apua3 jo Ile Aed o1 saa.6e ao6e61aoIN `Mel Aq pa1!q!4oad uagM 1da3x3 'SISOJ NOIID331OJ !S333 ,SA3N2I011V !SINVN3AO3 NO S3JNVAad !S3SN3dX3 '51 •u!e6e suaddr4 .o Sanunuo) 1! 3! 1lfEJap E Juana aq1 .ap!suo) JaTel 01 146p s,aapua3 an!eM lou saop .apua3 `1Inejap s,.o6e61aoIN uo Apawaa AUE 6u!sp.axa 10U Ag •1inejap bu!Ts!xa Aue jo aan3 alaldwo) a.!nba. o1 146p s,.apua3 Jo .an!eM a a1n1!lsuo) l0U Ilegs paw a.e s6u!paa)o.d aansopa.oj Jaw .o palraala33r s! ao anp s! a)Ueleq a41 .a1Jr lgaa paamaS aq1 uo luaWArd Irll.ed ao 1uaWArd u! wns Aue jo .apua3 Aq a)uelda))r a41 '41.oj pas Alssa.dxa 1ou AO .aglagM 'A1!nba AO Mg! 1e pap!no.d sa!pawa. He 01 pallnua s! .apua3 Dip pue `anlsnpxa 10U pue an!lelnwnJ `1)u!ls!p a.e sa!pawaa IN •A1.ado.d a41 Iles o1 aaMOd a41 `uopel!w!l 1no41!M `6u!pnpu! sluawn)op palela. Aue pur puawn.lsul A1un3aS 'sup `lgaa paan3aS a41 jo sw.al alp `Mel Aq pap!AO.1d sa!pawa. a41 HE 01 pappua aq Ilegs aapua3 `uo!1!ppe aLunAue .o 1lneJap E jo a)ua..n))o aq1 uodn 'Mel Aq paa!nba. j! a3!1ou 6u!n!6 Jaw `algeAed pue anp Ala1e!paww! awo3aq llegs ledpupd pue lsa.alu! pan.))e 8 sa6aeq) pue saaJ paa.6e 041 jo lard Aue .O IIe `.apua3 jo uo!1do aq1 w •1lnEJap u! s! .o6e61.olN j! Mel Aq pap!no.d .auuew E u! luawn, lsu! A1!an)aS 5141 asopa.Oj pue lgaa paan)as a41 alr.ala))r Arw aapua3 ',cur `suo!1e1!w!I asagi o1 13afgns •suo!13e a.nsopa.oj .oj salnpaq)s aw!1 gs!Igelsa Aew pue sa)!lou .agpo .o a.n) 01 146!. a41 Jo a)!1ou 411M ao6e61.oW ap!n0ad of aapua3 a.!nba. II!M MEI alels pue IE.apaj `sa)urlsu! awns ul 'llnv33a NO S3Ia31N3N 'VI "r %C'tiq 19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Lender may deem reasonably necessary. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and Lender's lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any anti deficiency or one action laws. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lentler. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 23. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 18. INSURANCE. Mortgagor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld. If Mortgagor fails to maintain the coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of Toss if not made immediately by Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Mortgagor. 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