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HomeMy WebLinkAbout89520515:52 FR bJFHM .8OoK_~.~43LPRPAO~ 1 2 THIS MORTGAGE is made this 7T~t JUSTIN E. COLLINS, I MORTGAGE ] day' o f'Nox"m, mz R A SIN(ILE PERSON TO SlJoTB779602 P.07 2003 RECEIVED Lh¥coLN COUNTy CLERK '.IEANAIE W~,"., c , between the Mortgagor, W~LLS FJLRGO HOM]t MDRTGAGE, INC. existing under the laws of Tl~ STATE OF CALIPORNIA P.0. BOX 10304, DES MOINI~S, IA 503060304 WHEREAS, Borrower is indebted to Lender in the principal sum of U.S. indebtedness is evidemced by Borrower's note dated ~qOV'm~ER O7, 20O3 (herein "Borrower"), and the Mortgagee, , a corporation organized and , whose address is (herein "Lender"). ***********'4,262.00 , which and exte~ions and renc~vals thereof (herein "Note"), providing for monthly instillments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable on DECE~ffiER 01, 20'11 ; TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of all other sum~, 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~'zl'IcO~'N , State ~f4,WjY~?l~ LO? 301::YI~ERI. a¥ '10 2'LET OF 'r,O"~ FAIRVI~W ADDITION TO TH~ TOWN OF KE~M]tRER, LINCOLN COI/NTY, WYOMING AS DESCRIBED ON TH~ OFFICIAL PLAT THEREOF, which has the address of 1310 cra, rrm Av~Nrm [Street] Wyoming 83101 (herein "Property Address"); [zip Co(icI TOGETHER with all the impmvemenu 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 pan 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 Borrowerts 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 enctunbrances 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. 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. Funds for TaXL~ and Inst~&nce. Subject 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 assessmenu, if any) which may attain priority over this Mortgage and ground rents on the Property, if any, plus one-twelfth of yearly premium in.~taliments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reaaonably estimated initially and fi'om time to time by Lender on the basis of assessments and bills and reasonable estimate~ thereof. Borrower shall not be obligaug,d to nuke such payments of Funch to Lender to the extent that Borrower mak~ Such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender. [WYOMING -SECOND MORTGAGE- i/80- FNMA/FHLMC UNIFORM 'NSTRUNIE"T I (~1~® Pooe I ~t 4 -7 6(WYi le~ ~ 21,ol vu? MORGUE FOR~S · NOU 87 2Pn°- '%:52 FR IJFHM ...... ~,;,;-;?.~2 536 2618 TO 9130787796-a~ P. I~ Bo~ower pays Funds m ~nder, th~ F~ds sh~l M h~Id in ~ institution ~e deporlt~ or acco~t~ o~ which ~e ~d or guested by a f~ or s~te agency (~clud~g ~nder if ~nder is ~ch ~ i~titution). ~nder sh~i apply ~e F~d~ to pay r~d t~es, ~a~asm~t~, insur~ce p~ ~d gro~d r~s. ~d~ ~y not ch~ge for ~o holding ~d apply~g Fun~, ~yzing s~d ~I or vefi~g ~d compiling s~d ~sesaments ~d bilb, u~eas ~nder pays Bogower ~mrest on · e Funds. ~d applicable law pe~!a ~nder to ~e s~ch a ch~ge. Bogower ~d Lend~ may ague in writing at ~e d~ of ex~ution of ~k Mo~gage ~at intreat on ~e Funds s~l be paid to Borrower, ~d ~less such ~ree~nt i~ made or applicable law requires such ~te~eat to be p~d, ~der sh~l not be ~equired to pay Bogower ~y int~ert or e~s on F~ds. ~er ~h~l give ~ Bogower, without ch~ge, ~ ~u~ accounting of ~e run~ show~g cr~i~ ~d debiu F~ ~d ~e pu~ose for which e~h debit to ~e F~ds w~ ~ae. ~e F~ ~e pledg~ ~ addition~ a~urity far ~e s~ur~ by ~is Moggage. If ~e ~o~t of ~e F~ds held by ~d~, toge~ wi~ ~e ~u~ ~nthly i~t~l~ats of Funds payable prior 1o ~e due dates of t~, ~sessm~s, insur~ce pr~u ~d gro~ rents, sh~l ex.ed ~e ~t required to pay s~d ~sessm~ts, i~ p~u~ ~d gro~d r~ts ~ ~ey f~l due, such excess ~h~l be, at Bogower'~ op~on, ~th~ promp~y roped to Borrower or cr~it~ m Bonower on mon~ly instalments of ~n~. If the ~ount of ~e Fund~ hdd by ~der ah~l not be suffi~t to pay t~es, ~se~au, i~ur~ce pr~ ~d ground ren~ ~ ~ey f~l due, Borrower sh~l pay to ~der ~y ~ount ne~ssa~ to ~e ap ~e de~cienc~ in one or ~re paymem~ ~ ~nder may r~uire. Upon pay~nt in ~11 of ~1 s~ s~red by ~i~ Mo~gage, ~nder sh~l promptly re.nd to ~ogower ~y Funds held by L~d~. If und~ paragraph I7 he.of ~e ~ope~y is sold or the ~ope~y is o~e~ke acquired by ~nder, ~nder sh~l apply, no hter t~ i~diately prior to ~e s~e of ~e Pro~y or iu acquisition by ~d~, ~y Fun~ held by ~nde~ at ~e time of application ~ a credit ag~nst ~e s~ a~u~d by ~ Mogga~e. 3, Applica6on of Ps.eats, U~ess appli~ble law provides o~he~ise, ~1 payrolls r~eived by ~nder ~dec ~e No~e ~d p~agraphs I ~d 2 hereof sh~l be appli~ by ~der fi~t in payment of ~oun~ payable to ~nder by Bo~wer ~d~ p~agraph 2 her~f, ~en m interest payable on ~e Note, ~d ~ to ~e princip~ of the Note. 4. ~or Mo~gag~ and D~ o[ ~u~; C~g~; Li~. Bogower ~h~l perfo~ ~l of Borrower's obligado~ ~y mo~gage, d~d of ~t or o~ ~ity ag~ent wi~ a lien ~vhich h~ prio~ty over this Mo~gage, including Borrower's coverts ~ ~e pa~ when due. Bogower sh~l pay or ca~e to be paid all t~cs, ~sesam~ts ~d o~ ch~ges, ffmes ~d impositions atgibuuble to ~e P~pe~y which may ~n a priority over ~is Moggage, ~d le~chold paym~u or ground rents, if ~y. 5. Ha~d Instance, Bogower sh~l k~p ~e ~rovements now exkting or heresies erected on ~e Prope~y ins~ against lo~s by ~tre, ha~nr~ i~luded wi~ ~e te~ "ext~nd~ eov~age," ~d such o~er h~ds ~ ~nder may r~uire ~d in such ~oun~ ~d for ~uch pe~odr ~ ~nder may require.. ~e ~ur~e c~ier providing ~c ~sur~ce sh~l ~ chosen by Bogower subject to approv~ by ~der; provided, ~at such approv~ shall not be ~e~onably wi~eld. All ~u~ policies ~d r~ew~s thief shall be ~ a fo~ a~eptable ~nder ~d ah~l ~luda a st~d~ mo~gage clause in favor of ~d in a fo~ at.table to ~nd~, ~d~ sh~l have ~e to hold ~e polici~ ~d ren~s ~f, aubj~t to ~e te~ of ~y mortgage, d~ of ~st or o~er ~u~ty agree~nt wi~ a tien which h~ priori~ over ~is Moggage. In ~e event of loss, ~gower a~l give prompt noti~ to ~e inrur~ce c~ier ~d Lender. ~nder ~y ~e proof of loss if net ~e promptly by Bogow~. If ~e ~ope~y is ab~doned by Bogow~. or if Bogow~ f~ls to respond to ~der wi~in 30 days from ~e date notice ~lcd by ~d~ to Bogower ~t ~e ~ce ~tier offers to settle a claim for i~ur~ce benefits, ~nder is suborned to coll~ ~d apply ~e i~ur~ca procac~ at ~nder'a ogtion eider ~ r~oration or repair of ~e P~pe~y or to ~e ~u~ by ~k Mortgage. 6. ~a~on and ~n~aance of ~ope~y; L~ehol~; Cand~~; Plann~ Unit ~velopm~. Bogow~ sh~l kc~ ~e Prope~y ~ good rep~r ~d a~l not ~t w~te or pe~t imp~nt or deterioration of ~ P~pe~y sh~l ~mply wi~ ~e provisions of ~y I~e if this Mortgage ia on a leopold. If ~ir Mo~gage ir on a unit in a ~ado~ni~ or a pl~ned ~it develop~nt, ~gowcr sh~l pgfo~ ~1 of Bo~ower's obligations under ~e d~l~ation or cov~u ~eating or gove~ng ~e condo~ or plied unit developer, ~e by-law~ ~d regulatio~ of ~e condo~um or pl~ed ~it developm~t, and continent 7. ~ote~ion ~ L~der's ~ty, If Bogower ~la 't~ parfo~ ~e cov~ ~d agre~u ~n~d Moggage, or if ~y action or ptoc~ing is ~enc~ which n~teri~ly aff~a Lend~'s intent in ~e Pmpegy, ~ ~ndg, at ~der's op~on, u~n no~ to Bo~ow~, ~y m~e su~ appe~a, disburse such s~, including re~onable atto~eys' fees, ~d t~e such ~tion ~ is n~cas~ ~ p~tect ~nder's interest. If ~der r~uired morgue i~ur~ce ~ a condition of ~ing ~ 1o~ s~ur~ by ~ia Mo~gage, ~wer sh~l pay ~e pre~u~ requir~ to m~ntain such insur~ce in effect until such time as ~e requ~ent for ~uch ~u~ tc~nat~ ~ a~ord~ wi~ Bogow~'r ~d ~d~'a ~it~n ag~eem~t or applicable law. Any ~ta d~burs~d by ~nder pursuit m ~ia p~agraph 7. wi~ interest ~n, at ~e Note rate, sh~l b~ ~ditio~ indebt~s of Borrow~ a~ by ~is Mo~gage. U~esa Bo~ow~ ~d L~der agree ~ other tc~ of paym~t, such ~ts sh~l be payable upon notice from ~nd~ to ~ogower requesting payment ~emof. No~ing cont~ p~agraph 7 ~l requi~e ~nd~ to ~c~ ~y exp~e or t~e ~y ~ion hercules. 8. I~p~tion. ~nder ~y ~e or cause to be m~e re.enable ~t~e~ upon ~d i~p~ons of ~e Prope~y, provid~ ~at ~ader sh~[ give ~ower nofi~ prior to ~y ~uch iusp~ion sp~i~ing rc~onablc cause ~erefor reined to interest in ~e ~ope~. 9. Cond~a~on, ~e proems of ~y awed or cl~m for d~ges, direct or co~equenti~, in ~ecdon wi~ ~y conduction or a~r t~ing of ~e Propegy, or p~ ~f, o~ for convey~ce in lieu of conde~ation, ~e hereby ~d sh~l be paid m ~nder, subject to ~e te~ of ~y mo~gage, de~ of t~t or o~er se~rity agr~ent wi~ a lien which h~ priority over ~k Mo~gage. 10. Bogow~ Not Rd~; Forb~rance By Lender Not a Waive, Exte~ion of ~e time for pa~ent or ~dification of ~o~tion of ~e su~ ~ed by ~k Mo~gag~ gr~t~ by ~nd~ to .~y au~cssor in interest of Borrower sh~l not opera~ to selene, in ~y ~er, ~e liability of ~e origi~ Borrow~ ~d Bo~ower's successors ~ ~t~est. ~d~ ~h~l not be requi~ to co~en~ pro.dings ag~nrt such su~aor or sense to ex~ad t~e for paym~t or o~e~ise ~di~ ~o~ization of ~e s~ s~u~ by ~is Moggage by rein of ~y dem~d ~de by ~e o~gin~ Bogower ~d Bogow~'~ su~ssors in largest. ~y forb~ce by ~nder in exercis~g ~y right or remedy hereund~, or o~e~i~e ~ord~ by applicable law, sh~I sot be a w~ver of or prelude the exercise of ~y such right or rem~y. NOU 87 2~03 15:52 FR ~FHN 482 536 2GtO TO 9]30?8??9602 P.89 11, Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein contained shall bind, and the fights 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 Leader 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 nmke 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 applib-able 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 aa Lender may designate by notice to Borrower as provided herein. Any notice provided for hi 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 MOrlgage or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Mortgage and thc Note are declared to he 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'.~ 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 fights, claims or defenses which Borrower may have against panics who supply labor, materials or services in connection with improvements made to the Property. I6. Transfer of the Property or a Benel'icial Interest In Borrower. If all or any pan 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 covemmt 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 spec_Il'led 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 alter acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Borrower to accderatlon and sale. Ir 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 ol' sale and any other rtmedies permitted by applicable law. Lender shall he entitled to collect all reasonable costs and expenses incurred in pursuing the remedies providedin 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, ff differeatj in accordance with applicable,law. Lender shall mail a copy of a notice of the sale to Borrower in the manner provided ia 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 ot doe 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 Reln~.ate. Notwithstanding Lender's acceleration of the sums secured by this Moagage 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 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 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 oI Receiver; Lender in Possession. As additional security hereunder, Borrower hereby assigns to Leader the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment of the Property, have the fight to collect and retain such rents aa they become due and payable. ~®-TGIWY) 1891 ')].01 N 0 U E)7 2E)P© ~'=:53 FR h,IFHH ~n? 5:]6 2S10 TO ~130787796Pe .... P. 10 Upon ac~lemtion ~der p~agrap~ 17 hereof or ~b~do~en~ of ~c P~op~y, ~d ~t ~y ti~ prior to ~e e~pi~fion of ~y p~od of red.priori following judici~ ~e, ~nd~, mtitled m anter upon, t~e possession of ~d ~age ~e Pmpegy ~d m ~lleet the ~nt~ of ~c ~op~y includj~ ~ose p~t due. All rm~ collec~ by ~nd~ or ~e ~cei~er s~l be ~ppli~ first to pater of ~e costs of ~ag~mt of ~e Prope~ ~d mlle~ion of re2~, including, but no~ li~ted to, fees, ~d ~ to ~e s~ s~red by ~is Mortgage. ~der ~d ~e ~ceiver sh~l he liable to a~ount only for ~ose ren~ actuflly r~eiv~. ~0. Rd~e. Upon payor'of fll s~ s~ed by ~is Mo~gage, ~nder shill rele~e ~is Mortgage wi~out chine to Bo~wer. Bogower s~l pay fll costs of r~rdation, if ~y. 21. Waiver of Hm~d. Bo~ow~ hereby w~ves ri right of homestead exemption in ~e ~openy, 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 h~ executed this (S~) N ~. COLLINS -Borrower -Borrower (Seal) -Bol~owe. r (Seal) -Borrower (Sign Original Only) STATE OF WYOMING, The foregoing instrument was acknowledged before me this by JUSTIN 1~. COLLINS, A SINGLE PERSON My Commission Expire~: County Nota~ Public (Space Below This Line Re:served For Lender and Recorder] ~®-76(WY) la9 ~ 2~,o~ P~e 4 ~t ~. Form 3851