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HomeMy WebLinkAbout865358Prepared by and Return to Conseco Finance Servicing Corp. HID Mortgage Recording Dept. 3500 Yankee Drive, Suite 400 Eagan MN 55121 State of Wyoming Space Above This Line For Recording Data GT -15 -51 -090 (11/96) /F9 lid 155 NAR 13 200P 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: STEPHEN G. HOFFINE, JR. and ANNETTE GREEN 446 MEADOWS COURT ALPINE WY 83128 If checked, refer to the attached Addendum incorporated herein, for additional Mortgagors, their signatures and acknowledgments. LENDER: Conseco Finance Servicing Corp. 3500 Yankee Drive, Suite 400 Eagan MN 55121 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 TRACT OF LAND IN LINCOLN COUNTY, STATE OF WYOMING, HEREBY RELEASING AND WAIVING ALL RIGHTS UNDER AND BY VIRTUE OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE, TO-WIT: LOT NO. 5 THREE RIVERS MEADOWS ESTATE SUBDIVISION A LINCOLN COUNTY, WYOMING, BEING PART OF THE SW 1/4 SW 1/4 AND THE NW 1/4 SW 1/4 OF SECTION 28, T37N, R118W OF THE 6TH P.M., LINCOLN COUNTY, WYOMING. SUBJECT TO RESTRICTIONS, RESERVATIONS, EASEMENTS, COVENANTS, OIL, GAS OR MINERAL RIGHTS OF RECORD, IF ANY. The property is located in LINCOLN (County) 446 MEADOWS COURT 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- MTGLAZWY 12/18/96 865358 MORTGAGE (With Future Advance Clause) 15 2469466 691/118/500 37939 WYOMING RECEIVED I�!Cf`I. ►`r' CO'.JNTY 00 APP 14 AN JEANNE v'AGNE KE( MERER, WYOMING BOOK 4 1 _PR PAGE t at 15 -51 -090 (11/96) (page 1 of 6) (9 ro Z abed) (96/11) 060 S S l o z —000Z 1 dVW 96/81/21 AMZM1711N woj NV 'pnop 'IS 'swalsAS sua )jue8 4661 'Alaadoid aql anoadw! J0 ulelulew Ol sleualew Jo _loge! 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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. 0 1994 Bankers Systems, Inc., St. Cloud, MN Form GTH- MTGLAZWf 12/18/96 187 5 -51 -090 (11/96) (page 3 of 6) (9 Jo 4 abed) (96/11) 060 L S S 1 981 96/9 L/Z 1 AMZVl)11 H10 wWod NW 'PnOD '3S ")U 'swalsAS saa )tue8 4661 '1uawroop up!! aaglo Jo luawaaJ6E Alpnaas `lsnal jo paap `a6e61aow aopd AuE jo swial ag1 o1 1)afgns s! spaaaoad jo luawu6!sse s!ql 'luawn.usul Alunaas s!ql u! paranoid Se pa!Idde aq Him puu sluawAEd paaap!suoa aq is spaaaoad gaps 'A1Jadoad alp jo lied Aue AO He jo 6uplel Jaglo ao uo!leuwapuo) q1!M pal)auuo) sa6Ewep aoj w!ep ao pJEME Aue jo spaaaoad aq1 aapual of su6!sse Jo6e61Jo!nJ •sw!ep Jo suo!1ae paquasap anoge ail jo Aue u! aweu s,J06E63aoIN u! auanaalu! of aapual sazuoglne AO 6P61.101/1 'sueaw aaglo Aue JO 'u!ewop luau!wa `uo!1Euwapuo3 gbnoagl Alaadoad alp jo HE AO AuE aNel Jo aseq)ind 01 sappua )hind AO alenud Aq `uo!lae paualeaagl ao 6u!puad AuE jo a)!3Ou ldwoad Japual an!6 II!M Jo6e61aow 'NOI1vNIN3aNOJ 'L 1 Mel Ieluawu0J!nu3 Aue Jo UO!1EIo!n aq1 1O aauelsgns snopaezeH Aue jo asealaa paualeaigl Jo asealaa aq1 01 6u!le!aa 6u!paa3oad Jo 'w!Ep 'uo!le6!lsanu! paualuaigl Jo 6u1puad AuE sL )Jail ana!Iaq 01 U0S J set a06E6110N Se UOOS Se 6ul1!JM u! aapual AJIIou Alale!paww! !legs ao6e63aoyAj •a •Mel IEluawuoJlnu3 Aue 41!M a)uepao)DE u! uo!lae le!pawaa Aiessa)au Hu alEl Hugs ao6e63ao!n! luana uu tans ul •AlJadoad aq1 6uluaaauo) ME] leluawuOJ!nu3 AuE jo uopelo!n E s! aaagl ao AlJadoad aq1 lnoge Jo Japun `uo sanaao aauelsgns snopaezeH E Jo asealaa paualeaagl Jo asealaa E j! aapual AJllou AIale!paww! !legs 1o6E61Jow •J •ME] leluawuoJ!nu3 algE)!Idde AUE ql!M a)ue!Idwoa ivy u! u!EwaJ !legs pue `DAP `uaaq aneq lueual Aaana pue J06e61Jo!n! `aapual 01 6U!l!JM u! pa6paIMOU)I)e pue pasops!p AISno!naad se 1da3x3 '8 •A1JadoJd ag1 Jo a)14e1.1a1u!ew pue asn IEWJ0U aq1 Joj a1E!Jdoadde aq o1 paz!u6o)aa Aleaaua6 aae 1Eg1 saauelsgns snopaezeH Jo sal1!luenb hews 01 AlddE lou saop uoppiiisaa slgl 'Alaadoad agl u! ao uo pasealaJ Jo paaols `pale301 aq IIIM Jo s! aauelsgnS snopaezeH ou `aapual 01 6u!1!aM u! pa6paJMOU>pe pue pasopsip Alsnolnaad se lda)x3 •y :lEg1 saaa6e pue SIUEJJEM 'sluasaadaJ Jo6E61JOIN Mel leluawuoJ!nu3 Aue aapun a)uelsgns snopaezeq„ ao „alsEM snopaezeq„ „`sa)uEisgns a!xol„ „`IElaalew snopaezeq„ se pau!jap sa)uelsgns AUE 'uO!lPl!w!I lnOg11M `sapnpu! 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Aq paJ!nbaJ j! a)!lou 6u!n!6 Jaw `alquAEd pue anp AIa1E!paww! awo)aq !legs IEdpu!Jd pue lsaaaiu! panJ))E `Sa6JEg) pue saaj paaa6e ail J0 1JEd AUE .10 He 'Japual Jo uo!ldo ail iy •llnejap u! s! Jo6E61J001 j! Mel Aq pap!noad JauuEW E u! luawnalsu! Alpnaas s!q1 asopaJ0j pue lgaa pampas aq1 alEJalane AEw aapual 'Aue j! `suo!lei!w!I asagl 01 1)afgns •suo!33E aJnsopaJOj Joj salnpaq)s aW!1 gs!igeisa AEW pue sa)I1ou Jag10 J0 aim 01 1146p alp }o ))!loll gl!M Jo6E61Jo!ni ap!noJd 01 aapual aJ!nbaa il!M Mel alE1s pue papal `sa)uE1sul awns u! '11f1b'330 NO S3Ia31A1311 'i� t 086536 189 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. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. 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 Lender. 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. 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