HomeMy WebLinkAbout886520After recordl i.~ ·,:
CITIFIi~x~n,
INC.
1895 DEWAR DRIVE
ROCK SPRINGS WYOMING 82902
.B86520
RECEIVED
LINCOLN COUNTY CLERK'
BOOK ....... PR PAGE.__
.MORTGAGE
THIS MORTGAGE is made this 19th day of
CHARLES J. FAKE DEBBIE M. FAKE
December
, 2002 , between the Mortgagor,
(herein "Borrower"),
, whose
(herein
and the Mortgagee, CITIFINANCIAL, INC.
a corporation organized and existing under the laws of' Maryland
address is 1895 DEWAR DRIVE ROCK SPRINGS WYOMING 82902
"Lender").
WHEREAS, Borrower is indebted to Lender in the Principal sum of U.S. $ 14,881.58 , which indebtedness
is eviden.eed by Borrower's note dated 12/19/2oo2 and extensions and renewals thereof (herein "Note"), providing
for monthly installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable
on 12/24/2009 ;
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with the interest thereon; the
payment of all other sums, with interest thereon, advanced in accordance he~:ewith to protect the security of this
Mortgage; and the performance of the covenants and agreements of Borrower herein contained, Borrower does
hereby mortgage, grant and convey to Lender, with power of sale, the following described property located in the
County of LINCOLN , State of Wyoming:
LOTS 5 AND 6 OF SOUTHLAND PARK TO THE TOWN OF DIAMONDVILLE, WYOMING
AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
which has the address of 1137 COAL CREEK
Wyoming 83116 - 0 0 00 (herein "Property Address ");
, DIAMONDVILLE ,
TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights,
appurtenances and rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage;
and all of the foregoing, together with said property (or the leasehold estate if this Mortgage is on a leasehold) are
hereinafter referred to 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
covenant~ that Borrower warrants and will defend generally the title to the Property against all claims and demands,
subject to encumbrances of record.
Wyoming 26868-4 1/98 Original (Recorded) Copy(Branch) Copy (Customer) Page 1 of 5
BY SIGNING BELOW, the undersigned, Settlor(s) of the STEVE D. SCOFIELD, TRUSTEES
OF THAT LIVING TRUST DATED JANUARY 26, 1998
Trust under trust instrUment dated January 26th. 1998 for the benefit of
Steve D Scofield Dianna J Scofield ,
acknowledge(s) all of the terms and covenants contained in this document and in .any rider(s) thereto and
agree(s) to be bound thereby. ' .
Steve D Scofielfl / J-TmstSettkr Dianna J Scofielfl -TmstSettlor
- Trust Settlor - Trust Settlor
- Trust Settlor ' - Trust Settlor
- Trust Settlor - Trust Settlor
(~®-374R (9912} Page 2 of 2 12199
......... '?~? ~'~: 12 / 19 / 2 0 0 2
CHA~LES J FA. ,'ii...i~BIE M FAKE
UN~FOR~ COVENANTS. Bo~ow~r and ~nder ~w~n~[ ~d aEr~ as follows:
1. Payment of ~incipai and Imer~t. Borrower shall promptly pay when due the principal and imerest
indebtedness evidenced by the Note and late charges as provided in the Note.
~. Funds for Tax~ and I~uranee. Subj~t to applicable law or a ~i~en waiver by Lender, Borrower sh~l pay to
~nder on ~e day mommy payments of principal ~d imercst are payable ~der the Note, umil the Note is paid in Mll, a
sum (herein "Funds") equ~ to one-twelRh of the ye~ly taxes ~d assessments (including condo~ni~ ~d plied unit
development ~sessments, if ~y) which may att~n prioriW over tMs Mo~gage ~d gro~d rents on the Prope~y, if ~y,
plus one-twel~h of yearly premium i~tallmems for h~M i~ce, plus one-twel~h of ye~ly pre.urn instalments for
mo~gage insur~ce, if any, ~1 ~ re~onably est~at~ iMti~ly ~d from time to time by Lender on the b~is of
~sessments ~d bills ~d reachable estimates ther~f, Borrower shall not be obligat~ to make such payments of Funds
to ~nder to the extem that Bo~ower ~kes such pay~nts to the holder of a prior mo~gage or deed of t~t if such
holder is ~ institmional lender,
If Borrower pays F~ds to Lender, the Funds shall be held M ~ institution the deposits or accoums of which are insured
or guar~te~ by a FederM or state agency (including ~nder if ~nder is such ~ institution). ~nder shall apply the Funds
to pay said taxes, assessments, imur~ce pre~u~ ~d ground rems. ~nder may not charge for so holding ~d applying
the Funds, ~alyzing said ~unt or veri~ing ~d compiling said ~s~sments and bills, uMess Lender pays Bo~ower
interest on the Funds ~d applicable law pe~ts Lender to ~e such a ch~ge. Borrower ~d Lender may agree in writing
at the time of execution of ~is Mortgage that interest on the F~ds sh~l be paid to Bo~ower, ~d ~ess such agreement is
made or appli~ble law requires such imerest to be paid, Lender shall not be r~uir~ to pay Bo~ower ~y inter~t or
e~ings on the Funds. Lender shall give to Borrower, without ch~ge, ~ ~u~ a<o~ting of the F~ds showing credits
~d debits to the F~ds ~d the pu~ose for which e~h debit to ~e Funds was ~de. ~e F~ds ~e pledged as addition~
s~ufity for the su~ s~ured by this Mo~gage,
If the ~oum of the Funds held by ~nder, together with the Mture momhly installments of Funds payable prior to
the due dates of t~es, assessments, insur~ce pre~ ~d gro~d rents, sh~l ex~ ~e ~o~t required to pay said
t~es, ~sessmems, insur~ce pre~u~ ~d gro~d rems ~ they f~l due, such ex.ss ~all be, at Bo~ower's option,
eider promptly repaid to Borrower or cr~it~ to Bo~ower on mommy installments of F~ds. If the amo~t of the Funds
held by ~nder shall not be sufficiem to pay t~es, assessments, imur~ce pre~ ~d ground rents as they fall due,
Borrower shall pay to ~nder ~y ~ount n~essa~ to m~e up th~ deficiency in one or more payments as Lender may
require.
Upon payment in MIl of all s~ secur~ by this Mo~gage, ~nder sh~l promptly reMnd to Bo~ower ~y F~ds
held by Lender, If under p~agraph 17 her~f the Prope~ is sold or ~e Prope~y is othe~ise acquir~ by ~nder, ~nder
sh~l apply, no later th~ i~diately prior to the s~e of the Property or its acq~sition by Lender, ~y Funds held by
~er at the time of application as a credit against ~e s~ s~ured by ~is Mo~gage.
3. Application of Payment. UMess applicable law provMes otherwise, ~1 payments r~eiwd by ~nder under the
Note ~d p~agraphs 1 ~d 2 her~f s~l be appli~ by ~nder first in payment of ~oums payable to LePer by Borrower
under p~agraph 2 hereof, then to imerest payable on the Note, ~d then to the pfincip~ of ~e Note.
4. ~ior Momgag~ and D~s of Trust; Charge; Liem. Bo~ower sh~l peffo~ all of Bo~ower's obligations
under any mortgage, de~ of t~st or other secufiW agr~m ~th a lien which h~ pfioriw over ~is Mo~gage, including
Bo~ower's covenams to ~ke payments when due. Bo~ower shall pay or cause to be paid MI taxes, ~sessmems and other
ch~ges, fin~ ~d impositio~ aRributable to ~e Property which ~y attain a priority over ~is Mortgage, ~d leasehold
payments or ground rents, if ~y.
5. ~ard Insurance. Bo~ower shall keep the improvemems now existing or hereafter erect~ on the Prope~y
insured ag~nst loss by fire, h=aMs included within ~e te~ "extend~ coverage", ~d such other h~ds ~ ~nder may
require ~d in such ~o~ts ~d for such periods as Lender may require.
~e insur~ce ca~ier providing the insur~ce shall be chosen by Bo~ower subj<t to approval by L~der; provide,
that such approval shall not be ~easonably wit~eld. All imur~ce policies ~d renowns thereof shMl be in a fo~
~ceptable to ~nder ~d shall include a st~dard mo~gage clau~ in favor of ~ in a fo~ ~ptable to ~nder. ~nder
shall have the right to hold ~e policies ~d renowns ther~f, subj~t to the te~ of ~y mo~gage, d~d of trust or other
s~urity agr~ment ~th a lien which has prioriW over this Mo~gage.
In the event of loss, Bo~ower shall give prompt notice to the ~r~ce c~ier ~d Lender. Lender may m~e proof
of loss if not made promptly by Bo~ower.
If the Prope~y is ab~doned by Bo~ower, or if Bo~ower fails to respond to Lender wi~in 30 days from the date
notice is mailed by ~nder to Bo~ower that the insur~ce c~ier offc~ to settle a claim for imur~ benefits, ~nder is
authorized to coll~t ~d apply the i~ur~ce' proems at Lender's option eider to restoration or repair of the Prope~y or
to the su~ secured by ~is Momgage.
6. ~e~ation and Maintenance of ~o~; L~seholds; Condominiums; Planned Unit Dev~opments.
Bo~ower shall k~p the Prope~ in good repair ~d shall not co~t w~te or pe~t impai~ent or deterioration of the
Prope~y ~d shall comply ~ ~e provisio~ of ~y le~e if this Mo~gage is on a le~ehold. If this Mo~gage is on a unit
in a~ condo~nim or a pl~ ~t development, Bo~ower sh~l peffo~ ~1 of Bo~ower's obligations under the
declaration or coven~ts creating or gove~g the ~ndomiMm or pl~ uMt develop~nt, the by-laws ~d regulations
of the ~ndominium or pla~ unit develop~m, ~d constimem docments.
7. ~oteetion of Lender's S~urity. If Bo~owcr fails to perfo~ the coven~ts ~d agr~ments ~ntain~ in this
Mo~gage, or if ~y action or proc~dMg is co~enced which ~tefi~ly afl. ts ~nder's imerest in the Prope~y, then
~nder, at ~nder's option, upon notice to Bo~ower, ~y m~e such app~, disburse such s~s, including
reasonable attorneys' fees, ~d t~ such action as is n~ess~ to prot~t Lender's imerest. If ~nder requir~ mo~gage
insur~ce ~ a condition of making the 1o~ secured by tMs Mo~gage, Borrower sh~l pay the pre~u~ r~uir~ to
m~main such i~ur~ce in eff~t ~til such time ~ ~e requiremem for such ~ur~ce to.nates in accoM~ce with
Borrower's ~d ~nder's written agree~m or applicable law.
Any ~o~ts disburs~ by ~nder punu~t to this p~agraph 7, wi~ imer~t ther~n, at ~e Note rate, sh~l b~ome
~dition~ indebt~ness of Bo~ower s~ur~ by this Mo~gage, UMess ~ower ~d ~nder agr~ to o~er te~ of
pa~ent, such ~o~ts shMl be payable u~n notice from ~nder to ~ower requ~tMg pa~ent ~er~f, Nothing
~nt~ in this paragraph 7 sh~l r~uire ~nder to inc~ ~y ex.me or ~ ~y ~tion hereunder.
8. Imp~ion. ~nder ~y m~e or ~use to be ~de r~onable emfi~ upon ~d imp~tions of the Propeay,
provid~ that Lender shall give Bo~ower notice prior to ~y such insp~tion sp~i~Mg r~so~ble ~use therefor related to
~nder's imer~t in the Prope~.
Wyoming 268684 1/98 Original (Recorded) Copy (Branch) Colby (Customer) Page 2 of 5
I fi,., 8 12/19/2002
9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a
lien which has priority over this Mortgage.
10. 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 Mortgage granted by Lender to any successor in interest of
Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in
interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for
payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the
original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or
remedy.
11. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements
herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and
Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and
several. Any Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to
mortgage, grant and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage, (b) is not
personally liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may
agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this Mortgage or the Note
without that Borrower's consent and without releasing that Borrower or modifying this Mortgage as to that Borrower's
interest in the Property.
12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail
addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as
provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such
other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall be the laws of the
jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this
Mortgage. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such
conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting
provision, and to this end the provisions of this Mortgage and the Note are declared to be severable. As used herein,
"costs", "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein.
14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
15. Rehabilitation Loan Agreement, Borrower shall fulfill all of Borrower's obligations under any home
rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's
option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any
rights, claims or defenses which Borrower may have against parties who supply labor, materials or services in connection
with improvements made to the Property.
16. 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 Mortgage. However, this option shall not be exercised by Lender if exercise is prohibited by federal
law as of the date of this Mortgage.
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 Mortgage. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
remedies permitted by this Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any
covenant or agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by
this Mortgage, Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof
specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, not less than 10 days from the date
the notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or
before the date specified in the notice may result in acceleration of the sums secured by this Mortgage. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to
assert the nonexistence of a defauIt or any other defense of Borrower to acceleration and sale. If the breach is not
cured on or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by
this Mortgage to be immediately due and payable 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 reasonable costs and expenses
incurred in pursuing the remedies provided in this paragraph 17, including, but not limited to, reasonable attorneys'
fees.
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 mail a copy of a
notice of the sale to Borrower in the manner provided in paragraph 12 hereof. Lender shall publish the notice of sale
and the Property shall be sold in the manner prescribed by applicable law. Lender or Lender's designee may
purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all
reasonable costs and expenses of the sale, including, but not limited to, reasonable attorneys' fees and costs of title
evidence; (b) to all sums secured by this Mortgage; and (c) the excess, if any, to the person or persons legally entitled
thereto.
Wyoming 2.~!?~-498 Original (Recorded) Copu'i~yl. ach) Copy (Customer) ....... !3 of 5
18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage
due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this
Mortgage discontinued at any time prior to the earlier to occur of (i) the fifth day before sale of the Property pursuant to
the power of sale contained in this Mortgage or (ii) entry of a judgement enforcing this Mortgage if: (a) Borrower pays
Lender all sums which would be then due under this Mortgage and the Note had no acceleration occurred; (b) Borrower
cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all
reasonable expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in this
Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not limited to,
reasonable attorneys' fees; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of
this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall
continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligations secured hereby shall
remain in full force and effect as if no acceleration had occurred.
19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder,
Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under
paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and
payable.
Upon acceleration under paragraph 17 hereof or abandonment of the Property, and at any time prior to the expiration
of any period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, 'shall
be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including
those past due: All rents collected by Lender or the receiver shall be applied first to payment of the costs of management of
the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and
reasonable attorneys' fees, and then to the sums secured by this Mortgage. Lender and the receiver shall be liable to
account only for those rents actually received.
20. Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage without charge to
Borrower. Borrower shall pay all costs of recordation, if any.
21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property.
22. 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 i's 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 22, "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 22, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is
located that relate to health, safety or environmental protection.
(Intentionally Left Blank)
Wyoming 268684 1/98 Original (Recorded) Copy (Branch) Copy (Customer} Page 4 of 5
12/19/2002
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has
priority over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, with a
copy to P. O. Box 17170, Baltimore, MD 21203, of any default under the superior encumbrance and of any sale or other
foreclosure action.
IN WITNESS WHEREOF, BorroWer has executed this Mortgage. _.~ o .~
" 1
-Borrower
[person a¢lmowl~ging[ ~ ~
WITNESS my h~d ~d offici~'s~l. ~'. ~ ~
~ · ~' Y PUBLIC ~' * '
~E~A~ ~ ~OMI~CER~CATE OF DISC~GE
~is ce :ifi~,~,~[~¢.~~the case ~y be)~om
to
and recorded in book of on page __
has been fully satisfied by the payment of the debt secured thereby and is hereby canceled and discharged.
BY:
TITLE:
'FOR:
The undersigned notary public witnessed the execution of this Certificate of Discharge by
for
day of
on this
Wyoming 26868-4 1/98
Notary Public
Original (Recorded) Copy (Branch) Copy (Customer)
(Space Below This Line Rescrvcd For Lender and Recorder)
Page 5 of 5