HomeMy WebLinkAbout893428The ~ident Bank
309 v~ne Street MS 242D
Cincinnati, OH 45202 8 9 3 k 28
RECEIVED
'LINCOLN COUNTY CLERK
6'3 fiFp 15 "--"' ..
........................... state of Wyoming ............................ 7 ........................................... Space Abov~"~;~i~ }]i~'~o~i R~':c~i~i~i~'~ C
'Dh'i'a ......................
MORTGAGE q -Iqlc0
(With Future Advance Clause) 'BOOK ~]~ '~' PR PAGE ? J- ~
DATE AND PARTIES. The date of this Mortgage (Security Instrnment) is 07/30/2003
the parties, their add!'esses and tax identification nuntbers, if required are as follows:
MORTGAGOR: Rex A. Doornbos and Sarah W. Doornbos, Husband and Wife
65 South Kelly Lane, Alpine, WY 83128
and
[] If checked, refer to the attached Addendum incorporated herein, for additional Mortgagors, their signatures and ackuowledglnents.
LENDER:.
The Prov.ident Bank
One East Fourl.h Street
Cincinnati, Ohio 452112
2. CONVEYANCE. For good anti valuable consideration, the receipt and sufficiency of lhis is acknowledged, aud to secure the Secured Debt
(defined below) Mortgagor's performance tinder this Secu,'ity Instrument, Mortgagor irrevocably grants, conveys, sells and mortgages to Lender,
· .~J in trust for the 'benefit of Lender, withpower of sale, the following described property:
See exhibit "A" attached hereto and hy this reference made a part thereof
The property is located in Lincoln
(County)
65 South Kelly Lane Alpine Wyoming 83128
(Address) (City) (Zip Code)
Together with all rights, easements, appurtenau~es, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water
stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the fnture, be a part of the
real estate described above (all referred to as "Property").
MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Secuiity Instrument at any one time shall not exceed
$61,500.00 This limitation of amount does not inclnde i,terest and other fees and charges validly made
pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of this Security Instrument to protect
Lender's security and to perform any of the covenants contained iu this Security Instrument.
SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined .,as follows:
A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below, and all
their extensions, renewals, Inodifications or substitutions. (]gOtt must specifically identify the debt(s) secured and ),o,t should include
the final maturity date of such debt(s). )
A note dated the _Thirtieth day of
by Rex A. Doornbos
to Provident Bank with a maturity date of
.hdy, 2003 , in the amount of $61.500.00 given
07/30/2023.
B. All future advances fi'om Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note,
contract, guaranty, or other evidence of debt executed by Mortgagor in favor of Lender executed after this Security Instrument
whether or not this Security Instrument is specifically referenced. If more than one pe[son signs this Security Instrument, each
Mortgagor agrees that this Security Instmmeat will secure all fiaure advances and future Obligations that are given to or incurred by
any one or more Mortgagor, or any oue or more Mortgagor and others. Alt future advances and other future obligations are secured
by this Security lnstnnnent even though all or part may not yet be adgauced. All fiaure advances and other future obligations are
secured as if made on the date of this Security Instrument. Nothing iii this Security Instrument shall constitute a commitn'~ent to make
additional or future loans or advances in any amount. Any such commitment mt, st be agreed to in a separate writing.
C. All other obligations Mortgagor owes to Lender, which may later arise, to the extent not prohibited by law, including, but not limited
to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender.
HELOC-MG-WY~I-Page 1 of 4
8o
HELOC-MG-WYv I-Page 2 of 4
-D. All additional sums advanced an expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and i'ts
value and any ot]{er sums advanced and expenses incurred by Lender under the terms of this Security Instrument.
In the event that Leuder fails to provide any necessary notice of the right of rescission with respect to any additional indebtedness secured under
paragraph B of this Section, Lender waives any subsequent security interest in the Mortgagor's principal dwelling that is created by this Security
Instrument (but does not waive the security interest for the debts referenced in paragraph A of this Section).
MORTGAGE CONVENANTS. Mortgagor agrees that the covenants in this section are material obligations under the Secured Debt and this
Security Instrument. If Mortgagm' breaches any covenant in this section, Lender' may refuse to make additional extensions of credit and reduce
the credit limit. By not exercising either' remedy on Mortgagor's breach, Lender does not waive Lender's right to later consider the event a
breach if it happens again.
Payments. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secnred
Debt and this Security Instrument.
Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien documellt that created a prior
security interest or encumbrance on the Property, Mortgagor agrees to make all paymeots when due and to perform or comply with all
covenauts. Mortgagor also agrees not to allow any modification or extension of, nor to request· any future advances under any note or agreement
secured by the lien document without Lender's prior written approval.
Claims Against Title. The Mortgagor wi]] pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, ntilities, and other
charges relating to the Property when due. Lender may require Mortgagor to provide tO Lender copies of all notices that such amounts are due
and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of
this Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have
against parties who supply ]ab0r or materials to maintain or improve the Property.
Property Condition, Alterations and Inspection. Mortgagor will keep the Property in good condition and make all repairs that are reasonably
necessary. Mortgagor shall not commit or allow an}, waste, impairment, or deterioration of the Property. Mortgagor agrees that the uature of
the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will notify Lender of all demands,
proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Property.
Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the pnrpose of inspecting the Property. Lender
shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection o[' the
Property shall be entirely lbr Lender's benefit and Mortgagor' will in no way rely on Lender's inspection.
Authoriiy to Perform. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may,
without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any
amount necessary ['or performance. Lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to
perform will not preclude Lender from exercising any of Lender's other rights nnder the law or this Security Instrument.
Leaseholds; Condominiums; Planned Unit Developments. Mortgagor agrees to comply with the provisions of any lease if this Security
Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, Mortgagor will perform all of
Mortgagor's duties under the covenants, by-laws, or regulations of the condominium or planned unit development.
Condenmation. Mortgagor will give Lender prompt notice of any pending or threatened action, by private or public entities to purchase or take
any or all o£ the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's
name in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of ally award or claim for damages connected
with a condemnation or other taking of all or any part of the Propeay. Such proceeds shall be considered payments and will be applied as
provided in this Security Instrument. Tbis assignment of proceeds is subject to the terms of any prior mortgage, deed of tllist, security
agreement or other lien document.
Insurance. Mortgagor shall keep Property insured against loss by fire, flood, lheft and other hazards and risks reasonably associated with the
Property due to its type and location. This insurance shall be maintained in the amounts and for tile periods that Lender requiresl The insurauce
carrier providing the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld. If
Mortgagor fails to maintain the coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
Property according to the terms of this Security Instrument.
All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" and, where applicable, "loss
payee clanse." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to bold
tile policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices.
Upon loss, Mortgagor shall give immedfate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately
by Mortgagor.
Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt,
whether or not then due, at Lender's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled
payment nor change the amount of any payment. Any excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's'
right to any iusurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender tO tile extent of the
Secured Debt immediately before the acquisition.
Financial Reports and Additional Documents. Mortgagor will provide to Lender npon request, any financial statement or information Lender
may deem reasonably necessary. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider
necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and Lender's lien status on the Property.
DUE ON SALE. Lender may, al its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the crealion
of, or contract for the creation of, a transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R.
591 ), as applicable.
DEFAULT. Mortgagor will be in default if any of the following occur:
Fraud. An'5' Consumer Borrower engages in fraud or material misrepresentation in connection with the Secnred Debt that .is an open end home
equity plan.
Payments. Any Consumer Borrower on any Secured Debt that is an open end borne equity plan fails to make a payment when due.
Property. Any action or inaction by the Borrower or Mortgagor occurs that adversely affects the Property or Lender's rights in the Property.
This includes, but not limited to, the following: (a) Mortgagor fails to maintain required insurance on the Property; (b) Mortgagor transfer the
Property; (c) Mortgagor commits waste or otherwise destructively uses or fails to maintain the Property such that the action or inaction
adversely affects Lender's security; (d) Mortgagor fails to pay taxes on the Property or otherwise fails to act and thereby causes a lien to be filed
against tile Property that is senior to tile lien of this Security Instrument; (e) a sole Mortgagor dies; (0 if more than one Mortgagor, any
Mortgagor dies and Lender's security is adversely affected; (g) the Property is taken through eminent domain; (h) a judgment is filed against
Mortgagor and subjects Mortgagor and the Property to action that adversely affects Lender's interest; or (i) a prior lienholder forecloses on the
Property and as a result, Lender'S interest is adversely affected.
Executive Officers. Any Borrower on any secured debt is an executive officer of Lender or an affiliate and such Borrower becomes indebted to
Lender or another lender in an aggregate amount greater than the amount permitted under federal laws and regulations.
REMEDIES ON DEFAULT. Ill addition to any other remedy available under the terms of this Security Instrument, Lender may accelerate the
Secnred Debt and foreclosure this Security Instmmeut in a maoner provided by law if Mortgagor is.in default. In some instances, federal and
state law will required Lender to provide Mortgagor with notice of the right to cure, or olher notices and ~nay establish time schedules for
tbreclosu,'e actions.
At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immedialely due and payable,
after giving notice if required by law, upon Ihe occurrence of a default or anytime thereafter. Lender shall be entitled Io, without limitalion, tile
power to sell the Property.
The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after
foreclosure proceedings are filed shall not constitute a waiver of Lender's tight'to require complete cure of any existing default. By not
exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default il' it continues or
happens again.
9. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Mortgagor breaches any covenant in
this Security Instrument,. Mortgagor agrees to pay all expenses Lender incurs in performing such covenants or protecting its Security interesl in
the Property. Such expenses include, but are not limited to, fees iucurred for insuring, inspecting, preserving or otherwise protecting tile
Property and Lender's security interest. These expenses are payable on demand and will bear interest fi'om the date of Ihe payment until paid in
full at the highest interest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by
Lender in collecting, enforcing or protecting Leuder's rights and remedies under this Security Instrument. This amount may include, but not
limited Io, reasonable attorneys' fees, court costs, and other legal expenses. This amount does not include attorneys' fees for a salaried employee
of the Lender. To the exteut permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees Lender
incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. This security Instrument shall
remaiu in effect until released. Mortgagor agrees to pay for any recordation costs of such release.
10. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (I) Environmental Law means, without
limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other
federal, state and local laws, regnlations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health,
safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste,
pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety,
welfare or environment. The tern> includes, without limitation, any substances defined as "hazardous material," "toxic substance:s," "hazardous
waste" or "hazardous substance" under any Environmeutal Law. Mortgagor represent, warrauts and agrees that:
A. Expect as previously disclosed and acknowledged in writing to Lender, no Ilazardous Substance is or xvill be located, stored or
released on o,' in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally
recognized to be appropriate for the normal use and maintenance of the Property.
B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are, and shall remain
in full compliance with any applicable Environmental Law.
C. Mortgagor shall i~nmediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, under or about Ihe
Property or there is a violation of any Enviromnental Law conceruing the Property. In such an event, Mortgagor shall take all
necessary remedial action in accordance with auy Environmental Law.
D. Mortgagor shall immediately notify Lender in writing as soon as Mortgagor has reason to'believe there is any pending or threatened
investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any
Environmental Law.
11. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separale agreement, Mortgagor will not be required lo pay to
the Lender funds lbr taxes and insurance in escrow.
12. JOINT AND INDIVIDUAL LIABILITY; CO,SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties' under this Security
Instrumeut are joint and individual. If Morlgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only
to mortgage Mortgagor's interest in tile Property to secure payment of the Scented Debt and Mortgagor does not agree to be personally liable on
the Secnred Debt. If this Security Instrument secures a guaranly between Lender and Mortgagor, Mortgagor agrees to waive any rights that may
prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, but
are not limited to, any anti-deficiency or one-action laws. Mortgagor agrees that Lender and any party to this Security lustrument may extend,
modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will
not release Mortgagor fi'om the terms of this Security lnstrumeut. The duties and benefits of this Security Instrument shall bind and benelit the
successors and assigns of Morlgagor aud Lender.
13. SEVERABILITY; INTERPREATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be
amended or modified by oral agreement. Any section in this Security Instrument, attachmenls, or any agreement related Io the Secured Debt
that conflicts with applicable law will not be effective, unless lhat law expressly or impliedly permits Ihe variations by wrillen agreement. If any
section of this Security Instrument cannot be entbrced according to its terms, that section will be severed and will not affect tile enforceability of
the remainder of this Security Instrument. Whenever used, Ihe singular shall include the plural and the plural the singular. The captions and
headings of the sections of this Security Instrumeut are for convenie,>ce only and are not to be used to iuterpret or define the terms of ~his
Secnrity lnstrun>ent. Time is of the essence in this Security Instrument.
14. NOTICE. Unless otherwise required by law, any notice sfiall be given by delivering it or by mailing it by first class mail to the appropriate
party's address on page I of this Security Instrument, or to any other address designated in writing. Notice to one Mortgagor will be deemed to
be notice to all Mortgagors.
!5. WAIVER. Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens aud assets and all homestead
exemption rights relating to the Property.
16. LINE OF CREDIT. The Secured Debt inclndes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this
Security Iustmment will remain in effect until released.
17. APPLICABLE LAW. This Security Instrument is goYerned by tile laws as agreed to in the Secnred Debt, except to the extent required by the
laws of the jurisdiction where the Property is located, and applicable federal laws aud regulations.
18. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this
Security Instrument.
[Check all applicable boxes]
[] Assignment of Leases and Rents [] Other
HELOC-MG-WYv I -Page 3 of 4
19.
BI' ADDITIONAL TERMS.
SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachments.
Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
........ 5...-'~......~::--""7 .... ~:>z.~--~ ....
(Signature) (Date)
Rex A. Doornbos
(Signature)
Sarah W. Doornbos
(Date)
ACKNOWLEDGMENT:
STATE OF W~/I~
(Individt, al) This instrument was acknowledged before ~ne this
by Rex A. Doombos and Sarah W. Doombos
COUNTY OF.
~{}'/~' day of
}SS.
My commission expires: ~$/' o~t ~o~'O '
(Seal)
}} De.%r,e¢ Blat, .~¢,:~,~.i..lotary Public
Teton {~i(~ Wyoming
{{ My Commission Expires Augusl 20, 2008
(Notary Public)
I IELOC:MG-WYv I -Page 4 of 4
718
EXHIBIT A
LOT 3 OF PETERS SUBDIVISION, LINCOLN COUNTY, WYOMING,
ACCORDING TO THE PLAT FILED JUNE 2, 1993 AS PLAT NO. 348,
INSTRUMENT NO. 765681.
Permanent Parcel Number: 12-3718-19-4-00-113.00
Rex A. Doornbos AND Sarah W. Doornbos (HUSBAND AND WIFE)
65 SOUTH KELLY LANE, ALPINE WY 83128
Loan Reference Number : 520869482
First American Order No: 4514150