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HomeMy WebLinkAbout892785A~erRec~ding Retum To: MS SV-79 DOCUMENT PROCESSING P.O.Box 10423 Van Nuys, CA 91410-0423 ~epared By: SUSAN STANLEY [Spare Above [~ THIS MORTGAGE is made this 20th THOMAS P EASLEY, AND, AND MICHELE A EAS (h~ein"Borrower"),andthe M~tgagee, AMERICA'S WHOLESALE LENDER A CORPO~TION the]awsof NEW YORK 4500 Park Granada, Calabasas, ,whose CA 91302 392785 RECEIVED 'LINCOLN COUNTY OLERt{ 03 t U6 25 PN t,: h 0 OOK 53 ,pR PACE 24 4 Tlds Line For Recordh~g Data] 038647753 ,scrow/Closing $] )RTGAGE ~yof August, 2003 hEY, 00003864775308003 [Doc ID #] , between the Mortgagor, HUSBAND AND WIFE AS JOINT TENANTS address is organized and existing under "Lender"). (herei~vI-IEREAS, Bor,'o~,er is indebted toLenderin the ~rincipal sum of U.S. $ 21,000.00 , which indebte.d~.,ess is is evidenced by Borrowers note dated AUGUST 20, ~003 and extensions and renewals thereof (herein Note"), providing for monthly installments of principal and inter9st, with the balance of indebtedness, if not sooner paid, due and payable on SEPTEMBER 01, 2018 ; I TO SECURE to Lender the repayment of the indebl other sums, with interest thereon, advanced in accordant{ of the covenants and agreements of Borrower hereh~ co: with power of sale, the following described p,'operty locat State of Wyoming: SEE EXHIBIT "A" ATTACHED HERETO AND MAD edness evidenced by the Note, with interest thereon; the payment of all herewith to protect the security of this Mortgage; and the performance ~tained, Borrower does hereby mortgage, grant and convey to Lender, ~d in the County of LINCOLN , A PART HEREOF. which has the address of 43837 N HWY 189 , [ [Street] ,, KEMMERER , Wyoming[ 83101 (herein Property Address"); [City] ] [Zip Codel TOGETIIBR 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 ~ part of the property covered by this Mortgage; and all of th,e, foregoing, together with said property (or the leasehold estate if this 14ortgage 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 Prope,ly, and that the Property is unencun bered, except for enctunbrances of record. Borrower covenants that WYOMING - SECOND MORTGAGE - 1/80 - FNMA/FHLMC (~)®-76(WY) (0208) *23991* UNIFORM INSTRUMENT Page t of 4 ~AGE FORMS - (800)521-7291 CHL (09/02)(d) vMP MORT( Form 3851 Initials: ,~~ * 038647753000002076 - * DOC ID #: 00003864775308003 Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of record. UNIFORM COVENANTS. Borrower and Lender cove]trait and agree as follows: 1. Payment of Principal and Interest. Borrowm? shall promptly pay when due the principal and inter, est indebtedness evidenced by the Note and late clmrges as provided in the Note. 2. Funds for Taxes and h~surance. Subject to applicable law or a written waiver by Lender, Borrowea' 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 yearly premium installments for hazard insm'ance, plus one-twelfth of yearly premium instalhnents for mortgage insurance, if any, all as reasonably estimated initially and from thne to time by Lender on the basis of a.sse~ssments and bills and reasonable estimates thereof. Borrower shall not be obligal:ed 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. 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, a~ssessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permi[s Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the 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 the Funds. Lender shall give to Borrower, without chat'ge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged o~s additional security for 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 the due dates of taxes, assessments, insurance premh~ms and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly instalhnents of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Bonrower 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 Borrower any Funds held by Lender. If under paragraph 17 heceof 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 this Mortgage. 3. Application of Paylnenls. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs i and 2 hereof shall be applied by Lender flint in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and 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 has 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 mad impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. 5. Hazard Insurance. Bon'ower Shall keep the improvements now existing or hereafter erected on the Property insm'ed 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 may require. The insurance cat'rier providing the insurance shall be chosen by Borrower subject to approval by Lender; 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 chmse in favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the tetxns of any mortgage, deed of trust or other security agreement with a lien which ha~s 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 the date notice is mailed by Lender to Bon'ower that the htsurance 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 tile Property or to the sun,s secured by this Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Condo~ni~fimns; Planned U~tit Develop~nents. 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 goveming the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and constituent documents. 7. Protection ot' Leuder's Security. If BorrOwer fails to perform the covenants and agreements contained in 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, upon notice to Borrower, may make such appearances, disburse such stuns, including reasonable attorneys' fees, and take such action as is necessm7 to protect Lender's interest. If Lender required mortgage insurance 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 such insurtu~ce 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 Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice fi'om Lender to Ben, ewer reque~sting payment thereof. Nothing contained in this pat'agraph 7 shall require Lender to incur any expense or take any action hereunder. (~®-7§(WY) (0208) CHL (09/02) Page 2 of 4 · DOC ID #: 00003864775308003 8. Ilmpection. Lender may make or cause to be mare reaso~able 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 Propea'ty. 9. Condemnation. The proceeds of any award o~' clam for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or pat the !eof, or ftr conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of any mo ~tgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. 10. Borrower Not Released; Forbearance By Le of amortization of the sums secured by this Mortgage gra to release, in any manner, the liability of the original Bor to commence proceedings against such successor or reft sums secured by this Mortgage by reason of m~y deman Any forbearance by Lender in exercising any right or re: waiver of or preclude the exercise of any such right or ret 11. Successors and Assigus Bound; Joint and contained shall bind, and the rights hereunder shall im subject to the provisions of paragraph 16 hereof. All c Borrower who co-signs this Mortgage, but does not exec~ convey that Borrower's interest in the Property to Lender or under this Mortgage, and (c) agrees that Lender 'and make any other accommodations with regard to the te~ without releasing that Borrower or modifying this Mortg~ 12. Notice. Except for any notice required under a provided for in this Mortgage shall be given by deliverin the Property Address or at such other ad,ess as Borro~ notice to Lender shall be given by certified real to L designate by notice to Borrower as provided herein. Any to Borrower or Lender when given in the manner designa 13. Governing Law; Severability. The state and 1~ in which the Property is located. The foregoing sentence event that any provision or clause of this Mortgage or th provisions of this Mortgage or the Note which can be giv of this Mortgage and the Note are declared to be several sums to the extent not prohibited by applicable law or lil~ 14. Borrower's Copy. Bon'ower shall be fumish~ execution or after recordation hereof. 15. Rehabilitation Loan Agreemeut. Bon'ower s improvement, repair, or other loan agreement which Bo~ Bon'ower to execute and deliver to Lender, in a form acc~ Borrower may have against parties who supply labor, Property. nder No~ a Waiver. Extension of the time for payment or modification ated by 'Ii,ender to m]y successor in interest of Borrower shall not operate rower an0 Borrower's successors in interest. Lender shall not be required .se to ex~end time for payment or otherwise modify an]ortization of the made by the original Borrower and Borrower's successom in interest. tedy hereunder, or otherwise afforded by applicable law, shall not be a ~edy. Several Liability; Co-signers. The covenants and agreements herein tre to, ~e respective successors and assigns of Lender and Borrower, >venautsi and agreements of Borrower shall be joint and several. Any ~te the Note, (a) is co-signing this Mortgage only to mortgage, grant and ~nder tho terms of this Mortgage, (b) is not personally liable on the Note my other, Borrower hereunder may agree to extend, modify, forbear, or ns of tlfi's Mortgage or the Note without that Borrower's consent and e as to that Borrower's interest in the Property. ~licable~. law to be given in another manner, (a) any notice to Bol:rower ~ it or b3~ mailing such notice by certified mail addressed to Borrower at vet rmv designate by notice to Lender as provided herein, and (b) any mder's address stated herein or to such other address a.s Lender may notice provided for in this Mortgage shall be deemed to have been given :ed herein. ~cal lawsiapplicable to this Mortgage shall be the laws of the jurisdiction shall nO.t limit the applicability of fedea'al law to this Mortgage. In the Note cbnflicts with applicable law, such conflict shall not affect other '.n effect .without the conflicting provision, and to this end the provisions de. As used herein, "costs," "expenses" and "attorneys' fees" include all ired herein. :d a conformed copy of the Note and of this Mortgage at the time of mil fulfill all of Borrower's obligations under any home rehabilitation, rower eaters into with Lender. Lender, at Lender's option, may require :ptable tO Lender, an assignment of any rights, clams or defenses which materials or services in connection with improvements made to the 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, ~'equire immediate payment in full of all sums secured by this Mortgage. However, this option shall ]lot be exercised by Lender if qxercise i,~ prOhibited by federal law as of the date of this Mortgage. If Lender exercises this option, Lender shall give Blorrower J~otice of acceleration. The notice shall provide a period of not less than 30 days from the date the nodce~is delivered[or maildd within which Borrower must pay all sums secured by this Mortgage. If Borrower fails to pay these sums prior to th~expirafi0n of this period, Lender may invoke any remedies permitted by this Mortgage without further notice or demand on BorroFer. . NON-UNIFORM COVENANTS. Borrower and Leflder further covenant and agree as follows' 17. Acceleration; Remedies. Except as prowded In paragraph 16 liereof, upon Borrower's bread] of any covenant or agreement ti' Borrower in this Mortgage, including tlle cove]~nts to pay when due any sums secured by this Mortgage, Lender prior to acceleratiou shall give notice to BorrOwer as I~rovided in paragraph 12 hereof specifying: (1) the breach; (2) tim action required to cure such breacli; (3) a date,mot less than 10 days from the date the notice is marled to Borrower, by wlfich such breacli must be cured; and (4) that fail are to cure sucl! breadl on or before the date specilied in the notice may result in acceleration of the sans secured by this Mortga~e' The notice shall further i]ffomn Borrower of the right to reinstate after acceleration and tile right to bring a col of Borrower to acceleration and sale. If the breach k, Lender's option, may declare all of tile sums secured demand and may invoke the power of sale and any otl collect all reasonable costs and expenses incurred in trt acfio:i to assert the nonexistence of a defauit or any other defense not cured on or before the date specified in the notice, Lender, at .y this Mortgage to be inunediately due and payable without l'urther er re~ne0ies permitted by applicable law. Lender shall be entitled to ursuing :the rmnedies provided in this paragraph 17, including, but lhnited to, reasonable attorneys' lees. not If Lender invokes the power of sale, Lender slia~ give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance Iwith aPr~licable law. Lender sliall mail a copy of a notice of the sale to Borrower in the ~nanner provided in paragraph 12 llereof, l.}ender shall publish the notice of sale and tlie Property shall be sold in the ~nanner prescribed by applicable law. l~ender or Lender's designee may purchase tim Property at any sale. The proceeds of the sale sliall be applied in the following order: (a) to aH reasonable costs and expenses of the sale, including, but not limited to, reasonable a~torueys' fees and costs of tire evidence; (b) to all sums secured by this Mortgage; and (c) the excess, if auy, to the person or p, ;rsons legally entitled thereto. CHL (o9/o2) (~I~-76(WY) (0208) Page 3 ~f 4 Inltlals~'~ 247 DOC ID #: 00003864775308003 18. Borrower's Right to Reinstate. Notwithstanding Leader's acceleration of the sums secured by this Mortgage due to Bon'ower'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 judgment enforcing this Mortgage if: (a) Bon'ower 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 Lendex 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 Possessiom 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. 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 ox' other foreclosure action. IN WITNESS WI-I]~REOF, Borrower has executed this Mortgage. (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Sign Original Only) STATE OF WYOMING, LINCOLN County ss: The foregoing instrument was acknowledged before me this 20th day of August. 200't (date) by THOMAS P. EASLEY and MICHELE A EASLEY..ff/~ ~.~ My Commission Expires: February 2, 2006 Notary Public (~®-76(WY) (020s) CHL (09/02) Page 4 of 4 Form 3851 Prepared by: SUSAN STANLEY AMERICA'S WHOLESALE LENDER DATE: 08/20/2003 CASE#: DOCID#: 00003864775308003 BORROWER: THOMAS P, gASLD¥ PROPERTYADDRESS: 43837 N HN¥ 189 Branch #: 0000710 6440 SOUTHPOINT PARKWAY #300 JACKSONVILLE, FL 32216 Phone: Br Fax No.: KEMMERER,' WY 83101 LEGAL DESCRIPTION EXHIBIT A A parcel of land in the NE~SE~ of Section 19, T22N Rll5W of the 6th P.M., Lincoln County, Wyoming, being more particularly described as follows: BEGINNING at the South ~ corner of said Section 19, where is found a stone corner; thence East along the south section line of said Section 19, a distance of 2636.99 'feet to the Southeast corner of said Section 19, where is found a sto~e corner; thence N 14016,29'' W, a distance of 1807.33 feet to a point on the northerly right of way of U.S. Highway 189, where is found a 5/8" rebar, said point being the point of beginning of this description, said point of beginning also being the point of beginning for a parcel of land described in Book 161PR on page 227 on file in the Office of the Lincoln County Clerk; thence N 85o28'36,, E, along the northerly right of way of U.S. Highway 1819 a distance of 200.08 feet to the Southeast corner of a parcel of land as described in Book I61PR on page 227 on file in the Office of the Lincoln County Clerk where is found a 5/8" rebar; thence'continuing N 85°28'36,, E, along the northerly right of way of Highway 89 a distance of 93.00 feet to the Southeast corner of the parcel of land described herein, Where is found a 2" aluminum cap in a 5/8" rebar; thence N 4031'24" W,' a distance of 240.00 feet to the Northeast corner of the parcel of land described herein where is found a 2,, aluminum cap on 5/8" rebar; thence S 85°28'36,, ~.,.'a .distance of 293.08 feet to the Northwest corner of the parcel of land described herein; thence S 4°31~25,, E, a distance of 240.00 feet to the POINT OF BEGINNING. FHNVNCONV Legal Description Exhibit A 2C404-XX (04/03)(d) ) *23991* *038647753000002076-*