HomeMy WebLinkAbout886521After re~ord
1895 DEWAR DRIVE
ROCK SPRINGS WYOMING 82902
RECEIVED
LII',ICOLN COUfqTY CLEI
88652
I MORTGAGE
THIS MORTGAGE is made this 19th day of
ALAN D. HOLDER AND PAMELA FAWN HOLDER
December
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").
, 2002
, between the Mortgagor,
(herein "Borrower"),
, whose
(herein
WHEREAS, Borrower is indebted to Lender in the Principal sum of U.S. $ 55,609.85 , which indebtedness
is evidenced by Borrower's note dated 12/19/2002 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 Ol/O8/2o33 ;
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 herewith 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 UINTA COUNTY , State of Wyoming:
LOT 9A OF BLOCK 1 OF THE LINCOLN HEIGHTS 5TH ADDITION, FIRST FILING TO
THE CITY OF KEMMERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE
OFFICIAL PLAT THEREOF.
which has the address of 1667 TROY COURT
Wyoming 83103. (herein "Property Address");
KEMMERER
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
covenants 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 Orlg£nal (Recorded) Copy(Branch) Copy (Customer) Page 1 of 5
: ~' ..... 12/19/2002
UNIFORM COVENANTS. Borrower and Lender covenant and agrem as
1. Payment of ~incipal and Inter~t. Bo~ower shall promptly pay when due the princip~ ~d interest
indebt~ness evidenced by the Note ~d late charges as provided in the Note.
2. Funds for Tax~ and Imurance. Subject to applicable law or a written waiver by Lender, Bo~ower shall pay to
~nder on the day mont~y payments of princip~ ~d interest ~e payable under the Note, until the Note is paid in ~11, a
sum (herein "Funds") equal to one-twel~ of the yearly t~es ~d assessmems (including condo~um ~d pla~ed unit
developmem assessments, if ~y) which may attain p~ority o~er this Mo~gage ~d ground rents on the Prope~y, if ~y,
plus one-twelfth of yearly pre~um imtallments for h~ard insur~ce, plus one-~elRh of yearly pre~um installments for
mo~gage imur~ce, if ~y, all ~ reasonably estimated initi~ly ~d ~om time to time by Lender on the basis of
~sessments ~d bills ~d reasonable esti~tes thereof. Borrower sh~l not be obligat~ to ~ such payments of Funds
to ~nder to the extent that ~ower makes such payments to the holder of a prior mo~gage or de~ of t~st if such
holder is ~ institutional lender.
If Bo~ower pays F~ds to ~nder, ~e Funds sh~l be held in ~ institution ~e deposits or accounts of which ~e i~ur~
or guar~te~ by a F~eral or state agency (including ~nder if ~nder is such ~ institution), ~nder shall apply the F~ds
to pay s~d taxes, ~sessmems, insur~ce pre~u~ ~d ground rents. Lender ~y not ch~ge for so holding ~d applying
the Funds, ~alyzing said account or veri~ing ~d compiling said ~sessments ~d bills, u~ess ~nder pays Bo~ower
interest on ~e Funds ~d applicable law pe~ts Lender to ~e such a ch~ge. Bo~ower ~d ~nder may agr~ in writing
at the time of ex~ution of this Mongage that interest on the Funds sh~l be paid to Borrower, ~d unless such agr~ment is
~de or applicable law requires such interest to be p~d, Lender ~all not be r~uir~ to pay Borrower ~y interest or
e~ings on the Funds. Lender sh~l give to Bo~ower, without charge, ~ ~u~ a~ting of the Funds showing cr~its
~d debits to the Funds ~d the pu~ose for which each debit to the F~ds was made. The F~ds ~e pledg~ as Mdition~
security for the sums s~ur~ by this Moagage.
If the amount of the Funds held by ~nder, together with ~e ~mre mon~ly imt~lments of Funds payable prior to
the due dates of taxes, ~sessments, imur~ce pre~u~ ~d gro~d rents, sh~l exee~ the ~o~t requir~ to pay said
taxes, assessments, insur~ce pre~u~ ~d gro~d rents as they fall due, such excess sh~l be, at Bo~ower's option,
either promptly repaid to Bo~ower or credited to Bo~ower on monthly installmems of Funds. If the ~ount of the Funds
held by Lender shall not be sufficient to pay taxes, assess~nts, insur~ce pre,urns ~d gro~d rents as they f~l due,
Bo~ower sh~l pay to ~nder ~y ~o~t n~ss~ to m~e up the deficiency in one or more payments as ~nder may
require.
Upon payment in ~11 of ~1 s~s s~ by this Mo~gage, ~nder sh~l promptly re~d to Bo~ower ~y Funds
held by ~nder. If under p~agraph 17 hereof ~e Prope~y is sold or the Prope~y is o~e~ise acquir~ by. ~nder, ~nder
shall apply, no later th~ i~iately prior to the s~e of the Prope~y or its ~quisition by ~nder, ~y F~ds held by
~nder at the time of application as a credit agaimt ~e sums securM by this Mongage.
3. Application of PaymenB. Unless applicable law provides otherwise, all payments received by ~nder under the
Note ~d paragraphs 1 ~d 2 her~f sh~l be appli~ by Lender fi~t in pay~nt of ~o~ts payable to Lender by Bo~ower
under paragraph 2 her~f, then to imerest payable on the Note, ~d then to ~e p~neipal of the Note.
4. ~ior Mo~gag~ and D~ of Trust; Charge; Liens. Borrower sh~l perfo~ ~I of Borrower's obligations
~der ~y mortgage, d~ of trust or other s~ty agreement wi~ a lien which has prioriW over this Mongage, including
Borrower's eoven~ts to make pay~nts when due. Borrower sh~l pay or cause to be paid all taxes, assessmems and other
ch~ges, fines ~d impositiom attributable to the Prope~y which may attain a priority over this Mo~gage, ~d leasehold
payments or ground rents, if ~y.
5. ~zard Insuran~. Bo~ower shall keep the improvements now existing or her~fter erected on the Prope~y
i~ured against loss by fire, hazards inelud~ within ~e te~ "extend~ coverage", ~d such other h~ds as ~nder m~y
require ~d in such ~ounts ~d for such periods as Lender may require.
%e insurance carrier providing the insur~ee shall be chosen by Bo~ower subj~t to approv~ by Lender; provided,
that such approval shall not be ~easonably wit~eld. All ins~ee policies ~d renewals ther~f shall be in a fo~
acceptable to ~nder and shall include a st~d~d moagage elau~ in favor of ~d M a fo~ acceptable to ~nder. Lender
shall have the right to hold the policies ~ renewals ther~f, subject to ~e te~ of ~y mo~gage, d~d of trust or other
seeuriW agreement with a lien which has Priority over ~is Mortgage.
In the event of loss, Borrower sh~l give prompt noti~ to the imur~ce c~ier ~d ~nder. ~nder may make proof
of loss if not ~de promptly by Bo~ower.
If the Prope~y is ab~doned by Bo~ower, or if Bo~ower f~ls to respond to ~nder wi~in 30 days from the date
notice is ~led by Lender to Borrower that the im~ e~ier offers to settle a claim for insurance ~nefits, ~nder is
authofiz~ to collect ~d apply the insur~ee proceeds at Lender's option eider to restoration or repair of the ~ope~y or
to ~e sums seeur~ by this Mo~gage.
6. ~e~ation and Maintenan~ of ~ope~y; L~s~olds; Condominiums; Planned Unit Devdopments.
Bo~ower sh~l keep the Propeay in good repair ~d sh~l not co~t w~te or pe~t impai~ent or deterioration of the
Prope~y ~d sh~l comply with ~e provisiom of ~y le~e if tMs Moagage is on a leasehold. If ~is Mortgage is on a unit
in a condo~nim or a pl~ unit development, Bo~ower shall perfo~ ~1 of Bo~ower's obligations under the
d~laration or coverts creating or gove~ng the eondo~nium or pl~ uMt development, the by-laws ~d re~lations .
of the condo~nim or pl~ uMt develop~nt, ~d constituent doeumems.
7. ~ot~tion of Lender's ~ufi~. If ~ower fails to perfo~ the coven~ts ~d agreements ~nt~n~ in ~is
Mo~gage, or if ~y ~tion or priding is ~neM which materiMly afl<ts ~nder's interest in ~e Prope~y, then
Lender, at Lender's option, upon notice to Bo~ower, may ma~ such app~ces, disburse such su~, including
r~onable attorneys' f~s, ~d take such ~tion ~ is n~s~ to protect ~nder's imerest. If ~nder requir~ mo~gage
imur~ce as a condition of ~ng the Io~ ~ur~ by ~is Mo~gage, Borrower shall pay the pre~ requir~ to
m~int~n such insur~ in eff~t until such time ~ the r~uirement for such ~ce te~nates in aecord~ wi~
Bo~ower's ~d ~nder's ~iaen agr~nt or applicable law.
~y ~ounts disburs~ by ~nder punu~t to tMs p~agnph 7, wi~ inter~t ther~n, at ~e Note rate, sh~l b~om~
addition- indebt~ness of ~ower s~ur~ by this Mo~gage. UM~s ~ower ~d ~nder agr~ to other te~ of
pay~nt, such ~ounts shall be payable upon notice ~om ~nder to ~ower r~u~ting payment ~er~f, Nothing
~nt~ned in ~is paragraph 7 sh~l require ~nder to incur ~y expense or take ~y action here~der.
8. Inspection. ~nder ~y ~e or ca~e to be ~de reasomble entfi~ u~n ~d ins~tions of the Prope~,
provid~ ~at Lender shall give Bo~ower notice prior to ~y such i~p~tion s~i~ing re~onable cause therefor related to
~nder's interest in the Propeay.
Wyoming 2~-~,:~8 Original (Recorded) Cog~ 57ts~:~nch) Copy (Customer) ........ :2 of 5
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
Bo~rrower 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 default~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 26868-4 1/98 Original (Recorded) Copy (Branch) Copy (Customer) Page 3 of 5
~ 12/19/2002
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 fetus 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 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 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 ZS~n%,o, W98 Original (Recorded) CoD~,t.-.g.g,~nch) Copy (Customer) ., .~c 4 of 5
ALAN ~,D HOLD~ ELA F HOLDEP './'i/':/i~:i'/'~'¥~ '" 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/J~I, ortgage.
-Bo~ower
-Bo~ower
r~Thre f°reg°~g ins~tr~m~nt~was ackn°wle~ed~f°re me ~is L/~.
[person acknowledging]
WITNESS my h~d ~d offici~ se~.
Notary Public
CERTIFICATE OF DISCHARGE
This certifies that a mortgage or deed of trust (as the case may be) from
to dated
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:
.t.t5
FOR:
The undersigned notary public witnessed the execution of this Certificate of Discharge by
for
day of
on this
Wyoming 268684 1/98
Notary Public
Ortffinal (Recorded) Copy (Branoh) Copy (Customer)
(Space Below This Line Reserved For Lender and Recorder)
Page 5 of 5