HomeMy WebLinkAbout878052 Requested by Tabbie Thew (719)536-3915
Of Wells Fargo I-Iome Equity
WHEN RECORDED MAIL TO:
P.O.BOX 19523, Irvine CA 92623-9523
I I'MORTGAGE' "' ......
4516733638
THIS MORTGAGE is made this 2 o day of November , 200:1. , between the Mortgagor,
Catherine T. Hyde, And
E. Delane Hyde, Wife And Husband
(herein "Borrower"), and the Mortgagee,
Wells Fargo Bank West, N.A.
, a corporation organized and
existing under the laws of United States of kinetica , whose address is
4455 ArrowsWest Drive, P.O. Box 49069
Colorado Springs, CO 80949-9069 (herein "Lender").
WHEREAS, Borrower is indebted to:Lender in the principal sum of U.S. $ 29,500.00 , which
indebtedness is evidenced by Borrower's note dated 1:1./20/2001 and extensions and renewals
thereof (herein "Note"), providing for monthly installments of principal and ipterest, with the balance of indebtedness, it' not
sooner paid, due and payable on 11/20/2011 ;
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with 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 ottincoln ,
State of Wyoming:
See attached ~.xhibit A, Line Rider, Tax ID # 34182941311100
which has the address of 45 Astle Road County Road , Bedford ,
[Street] [City]
Wyomi.ng 8 3112 (herein "PropertY Address");
[zip Code]
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, snbject to encumbrances
of record.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness
evidenced by the Note and late charges as provided in the Note.
2. Fund} for Taxes and Insurance. Snbje~ct to applicable law or a written waiver by Lender, Borrower shall pay to
Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum
(herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned unit development
assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if any, plus one-twelfth of
yearl) premium installments for hazard insurance, plus one-twelfth of yearlY premium installments for mortgage insurance, if
any, all as reasonably estimated initially and from ti~ne to time by Lender on the basis of assessments and bills and reasonable
estimates thereof. Borrower shall not.be obligated to make such payments of Funds to Lender to the extent that Borrower makes
such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender.
WYOMING - SECOND MORTGAGE- 1/80~ FNMA/FHLIVIC UNIFORM INSTRUMENT ) Form 3851
-76(WY) (8912),O1 ELECTRONIC LASER FORMS, ~NC.-(800)327-0545 ' Initials:
If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or
guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay
said taxes, assessments, insurance premiums and ground rents. Lender may not charge tbr so holding and applying the Funds,
analyzing said account or verifying and compili~g said assessments and bills, unless Lender pays Borrower interest on the Funds
and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at Ibc time of execution
of this Mortgage that interest ou tile Funds shall be paid to Borrower, and unless such agreement is made or applicable law
requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on file Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to lhe Funds and the
purpose ['or which each debit to the Funds was made. The Funds are pledged as additional security R)r the sums secured by this
Mortgage.
If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to thc due
dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pa), said taxes,
assessments, insurance prcminms and ground rents as they fall due, s~ich excess shall be, at Borrower"s optiou, either promptly
repaid to Borrower or credited to Borrower on monthly installments of Funds. If tim amount of the Fnnds held by Lender shall
not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
any amount necessary to make up the deficiency in one or more payments as Lender may require.
Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borroxver auy Funds held by
Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply,
no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
application as a credit against the sums secured by Ihis lVlortgage.
3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender uuder the Note
and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Bon'ower tinder
paragraph 2 hereof, then to interest payable on the Note, aud then to the principal of the Note.
4. Prior Mortgages and Deeds of Trust; Charges; Liens, Borrower shall perform all of Borrower's obligations under
any mortgage, deed of trust or other security agreement with a lien which bas priority over this Mortgage, including Borrower's
covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines
and impositions attributable to tile Property whic~h may attain a priority over this Mortgage, and leasehold payments or ground
rents, if anY.
5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage,' and such other hazards as Lender may require and in
such amounts and for such periods as Lender ma), require.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by I..ender; provided, that
such· approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to
Lender and shall include a standard mortgage clause in favor of and in a tbrm acceptable to Lender. Lender shall have the right
to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust oi- other security agreement with a
lien which has priority over this Mortgage. "
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
loss if not made promptly by Borrower.
If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from tbe date ,~otice is
mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to
collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured
by this Mortgage.
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and
shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium
or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating
or g.overning the condominium or planned unit development, the by-laws and regulations of tile condominium or planned unit
development, and constituent documents.
7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained iu this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender,
at Lender's option, upou notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys'
fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurauce as a condition of
making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect until
such time as the requirement 'for snch insurance terminates in accordance with Borrower's and Lender's written agreement or
applicable law.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become
additional indebtedness of Borrower secured by this IVlortgage. Unless Borrower and Lender agree to other terms of payment,
such amounts sball be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this
paragraph 7 shall require Lender to incur any expense or take any action hereunder.
8. Inspection. Lender may make or canse to be made reasonable entries upon and inspections of the Property, provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
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 condemnatiou, are hereby assigned
and shall be paid to Lender, subject to tbe terms of any mortgage, deed of trust or other security agreement with a lien which
has priority ove~ this Mortgage.
10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of tile 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 itl 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.
Form 3851
2)
11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
contained shall bind, and the rights hereunder shall innre 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 tinder 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,
Ibrbe. ar, 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 tbr an5' 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 ihis 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 dfis end the
provisions of this Mortgage and the Note are declared to be severable. As used herein, "costs," "expenses" and "attorneys' fees"
include all stuns 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 Agreemeut. Borrower shall fulfill all of Borrower's obligations under any borne 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 ih'yoke any remedies pernfitted
by this Mortgage without further notice or demand on Borrower ........
'~ ": ~ON-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 pa)' 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, hy 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. ri'he notice shall fl~rther inform Borrower
of the right to reinstate alter 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 retnedies 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, it' 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
sball 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, bnt 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.
18. Borrower's Right to Reiustate. 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 betbre sale of the Property pursuant to the power of sale
contained in this Mortgage or (ii) entry of a judgment 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 cnre 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.
Form 3851
(8912),01
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 appl{ed 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 0nly for those rents
actually received.
20. Release. Upon payment of all stuns 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.
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, of any default
under the superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower has executed this Morlgage.
Catherine T. Hyde -Borrower
E. Delane ~yde -Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Sign Original Only)
STATE OF WYOMING, Lincoln County ss:
The foregoing instrument was acknowledged before me this /O ~ 8AI'.t~a^ L. MO~LEY - ~01~Y PUBU0
[- County ol ~ State of
by Catherine T. Hyde ,-,~,.,.,,..,~,,~.~... ,., ,,
E. Delane ' Hyde
Nd{ary Public
[Space Below This Line Reserved For Lender and Recorder]
EXHIBIT A
All the folloWing described premises, to-wit:
Part of Lot 4 of Block 12 of the Bedford Townsite, Lincoln County, Wyoming more
particularly described as follows:
Beginning at the Northwest corner of said Lot 4 and running thence South, 242
feet;
thence East, 180 feet;
thence North, 242 feet;
thence West, '180 feet to the point of beginning.
Subject to restrictions, covenants and easements, etc., of record, if any.
BEING the same property conveyed to Catherine T. Hyde and E. Delane Hyde,
wife and husband from Catherine T. Hyde by virtue of a Deed dated March 28,
1998, recorded April 2,
1'998 in Deed Book 409, page 698 in Lincoln County, Wyoming.
(Open end credit with [--] fixed rate ~ variable rate interest)
This Equity Line Rider is dated 11/20/2001 and is an amendment to
the Mortgage or Deed of Trust ("Mortgage") of the same date given by the undersigned,
Catherine T. Hyde, And
E. Delane Hyde, Wife And Husband
("Borrower") to secure Borrower's Equity Line Agreement with Wells Fargo Bank West, N.A.
("Lender") of the same day covering the property described in the Mortgage and located at:
45 Astle Road County Road
Bedford , WY 83112
In addition to the covenants and agreements made in the. Mortgage, Borrower and Lender further
covenant and agree as follows:
1. The word "Note", as used in the Mortgage and this Rider,' refers to the Equity Line
Promissory Note and credit Agreement.
2. The Note evidences an open end revolving line of credit agreement between Borrower and
Lender under which future advances may be made. The amount stated in the Mortgage as
the principal sum of the indebtedness is the credit limit for the line of credit. All advances
made at any time by Lender in accordance with the terms of the Note are obligatory and all
such advance, and all interest on the advances, shall be secured by the Mortgage.
However, at no time shall the principal amount of the indebtedness secured by the
Mortgage, not including sums advanced in accordance with the Mortgage to 3rotect the
security of the Mortgage, exceed the stated credit limit for the line of credit.
3. The Note provides for:
[---] a fixed rate of interest expressed as a daily periodic rate of %. This
corresponds to an annual percentage rate of %.
[~a variable rate of interest expressed as a daily periodic rate equal to 1/366 of an
annual rate of 1.625 % plus the "Index Rate". The daily periodic rate may
increase if the highest prime rate published in the Wall Street Journal "Money Rates"
table (the "Index Rate") increases. The initial daily periodic rate is 0. 000195 %,
which corresponds to an initial annual percentage rate of 7.125 %. The
annual percentage rate will never be more than 21 % and never less than 5.99 %.
The daily periodic rate will be adjusted on the first business day of every month, using
the index rate in effect that day. Any increase in the daily periodic rate may increase
the monthly payment due.
NOTICE: THIS MORTGAGE SECURES CREDIT IN THE AMOUNT OF $ 29,~00.oo
LOANS AND ADVANCES UP TO THIS AMOUNT, TOGETHER WITH INTEREST, ARE SENIOR TO
INDEBIEDNESS TO OTHER CREDITORS UNDER SUBSEQUENTLY RECORDED OR FILED
Catherine T. Hyde Date E. Delane Hyde Date
(Multistate)
-8502001 (000~) :_LECTF{ON!C LASEF~ FORMS, INC. - (800)327-0545