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HomeMy WebLinkAbout89569030049 (01) Recording requested by: Wells Fargo Bank N.A. Wells Fargo Home Equity 526 Chapel Hills Drive Colorado Springs. CO 80920 When recorded return to: Wells Fargo Bank N.A. Wells Fargo Services Co. Consumer Loan Servicing Center P.O. Box 31557 Billings, MT 59107-9900 State of Wyoming 895690 RECEIVED LINOOt. N COUNTY CLERK 54,3, wvXa - 135 Space Above tiffs Line For Recordh~g Date MORTGAGE 65015951211998 (With Future Advance Clause) DATE AND PARTIES. The date of this Deed of Trust ("Security Instrument") is 25 November 2003 and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: MARTHA ZOE HUGHES, A SINGLE PERSON AND MITCHELL DAVID MUMMA. A SINGLE PERSON If checked, refer to the attached Addendum incorporated herein, for additional Mortgagors their signatures and acknowledgments. LENDER: Wells Fargo Bank N.A. 420 Montgomery Street San Francisco, CA 94104 CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Mortgagor's performance under Otis Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the following described property: See attached Exhibit A The property is located in Li ncol n at 55 WHEATRIDGE LANE (County) (Address) ETNA , Wyoming 83118- 0000 (City) (Zip Code) WYOMING - MASTER FORM MORTGAGE Page 1 ol 8 ~.EWY~ ,o~,o, ~,P ~o.~o,,o~ ~o.,~-,~oo~,-~, 20033017900210 . 36 Together with all rights, easements, appurtenances, 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 future be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ 24,937.00 . This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this linfitation 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 in this Security Instrument. 4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of the promissory note, revolving line of credit, contract, guaranty or other evidence of debt dated 11/25/200~ogether with all amendments, extensions, modifications or renewals. The ~naturity date of the Secured Debt is 12/10/2013 B. All future advances from Lender to Mortgagor under such evidence of debt. All future advances are secured as if made on the date of fltis Security Instrument. Nothing in this Security Agreement shall constitute a connnitment to make additional or future loans or advances which exceed the mnount shown in Section 3. Any such commitment must be agreed to in a separate writing. C. All sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecti]:~g the Property and its value aud any other sums advanced and expenses incurred by Lender under the terms of tlfis Security Instrument. 5. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and tiffs Security Instrument. 6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. 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 consent. 7. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease paylnents, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copras 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 the Security Instrument. Moitgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor ~nay have against parties who supply labor or materials to maintain or improve the Property. 8. DUE ON SALE OR ENCUMBRANCE. Upon sale, transfer, hypothecation, assigmnent or encumbrance, Whether voluntary, involuntary, or by operation of law, of all or any part of the Property or any interest therein, then at its sole option, Lender may, by written notice to Mortgagor, declare all obligations secured hereby immediately due and payable, except to the extent that such acceleration for and in such particular circmnstances where exercise of such a right by Lender is prohibited by law. 9. 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 any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. WYOMING - MASTER FORM MORTGAGE LEWY2 Page 2 of 8 /~17900210 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 purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an iuspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit aud Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY 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 for perfornmnce. 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 under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages aud warrants to Lender as additional security all the right, title and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues and profits (all referred to as "Rents")~ Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under the terms of this Security Instrument. Mortgagor agrees that this assiglnnent is immediately effective between the parties to this Security Instrument. Mortgagor agrees that this assigmnent is effective as to third parties when Lender takes affirmative action prescribed by law, and that this assigmnent will remain in effect during any redemption period until the Secured Debt is satisfied. Mortgagor agrees that Lender may take actual possession of the property without the necessity of commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver to Lender any payment of Rents in Mortgagor's possession and will receive any Rents in trust for Lender and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Mortgagor warrants that no default exists under the Leases or any applicable landlord/tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 12. LEASEHOLDS; CONDOMINIUMSi PLANNED UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the property is a unit in a Condominium Project or is part of a Planned Unit Development ("PUD"), Mortgagor agrees to the following: A. Obligations. Mortgagor shall perform all of Mortgagor's obligations utder the Constituent Documents. The "Constituent Documents" are the: (i) Declaration or any other document which creates the Condominium Projects or PUD and any ho~neowners association or equivalent entity ("Owners Association"); (ii) by-laws; (iii) code of regulations; and (iv) other equivalent documents. Mortgagor shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent. Documents. B. Hazard Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy on the Condonfinium Project or PUD which is satisfactory to Lender and which provides insurance coverage in the amounts, for the periods, and against the hazards Lender requires, including fire and hazards included within the term "extended coverage," then Mortgagor's obligation under Section 19 to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that the required coverage is WYOMING LEWY3 (o2~oi - MASTER FORM MORTGAGE Page 3 of 8 20033017900210 1 13. 14. WYOMING - MASTER FORM MORTGAGE LEWY4 io21o) provided by the Owner's Association policy. Mortgagor shall give Lender prompt notice of any lapse in required hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to Property, whether to the unit or to conunon elements, any proceeds payable to Mortgagor are hereby assigned and shall be paid to Lender for application to the sums secured by this Security Instrument, with any excess paid to Mortgagor. C. Flood Insurance. Mortgagor agrees to ~naintain flood insurance for the life of the Secured Debt which is acceptable, as to form, amount and extent of coverage to Lender. D. Public Liability Insurance. Mortgagor shall take such actions as nmy be reasonable to insure that the Owners Association nmintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. E. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Mortgagor in connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the couunon elements, or for any conveyance in lieu of condmm~ation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the stuns secured by the Security Instrument as provided in Section 18. F. Lender's Prior Consent. Mortgagor shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abaudomnent or termination of the Condominimn Project or PUD, except for abandomnent or ternfination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condenmation or enfinent domain; (ii) any amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender; (iii) ternfinatim~ of professional management and assumption of self-management by the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. G. Remedies. If Mortgagor does not pay condonfinium or PUD dues and assessments when due, then Lender nmy pay them. Any amounts disbursed by Lender under this section shall become additional debt of Mortgagor secured by this Security Instrument. Unless Mortgagor and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Secured Debt rate and shall be payable, with interest, upon notice from Lender to Mortgagor requesting payment. DEFAULT. Mortgagor will be in default if any party obligated on the Secured Debt fails to make payment when due. Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value of the Property is impaired shall also constitute an event of default. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure or other notices and nmy establish time schedules for foreclosure actions. Subject to these lintitations, if any, Lender nmy accelerate the Secured Debt and foreclose this Security Instrument in a nmnner provided by law if Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become innnediately due and payable, after giving notice if required by law, upon the occurrence of a default or anyti~ne thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, tiffs Security Instrument and any related doculnents, including without limitation, the power to sell the Property. All remedies are distinct, cmnulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any stun 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 or ~o~ ~4~2~.1 ~20033017900210 ].39 Lender's right to require lcomplete 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 if it continues or happens again. 15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortgagor will also pay on dmnaud any anmuut incurred by Lender for insuring, inspecting, preserving or otherwise protecting the Property and Lender's security interest. These expenses will bear interest from the date of the payment until paid in fi~ll at file highest interest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expeuses incurred by Lender in collecting, euforcing or protecting Lenders' rights and remedies under this Security Instmnieut. This amount may include, but is not limited to, attorneys' fees, court costs, and other legal expenses. This amount does not include attorneys' fees for a salaried employee of file Lender. This Security Instrument shall remain in effect until released. Mortgagor agrees to pay for any recordation costs of such release. 16. ENVI-RONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law ~neans, without limitation, fl~e Comprehensive Environmental Respouse, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all oilier federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning file public health, safety, welfare, enviromnent 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 envirotmlent. The term includes, without linfitation, any substances defined as '[hazardous material," "toxic substances," ~'hazardous waste," or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: ' A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction does not'apply to sxnall 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 writiug to Lender, Mortgagor and every tenant have been, are, and shall remain in full compliance with any applicable Environmental Law. C. Mortgagor shall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Enviro~maental Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial action in accordance with any Enviromnental Law. D. Mortgagor shall inunediately 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. 17. CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened action, by private or public entities to purchase or take any or all of the Property through condemnation, eminent do~nain, or any other means. Mortgagor auflxorizes Lender to imervene iu Mortgagor's name in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages com~ected with a condenmation or oilier taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument. This assigmnent of proceeds is subject to the terms of any prior mortgage, deed of trust, WYOMING- MASTER FORM MORTGAGE LEwYB 1o2~o1 Pag, ~ o,. 20033017900210 140 18. INSURANCE. Mortgagor shall keep Property insured against loss by fire, flood, theft 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 the periods that Lender requires. The insurance 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 fights in the Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender and shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall inunediately give to Lender all receipts of paid prenfiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance cartier and Lender. Lender may make proof of loss if not made inunediately 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 insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt inmmdiately before the acquisition. 19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon 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 fids Security Instrument and Lender' s lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual If Mortgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that nmy 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 Instrument 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 from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is govenmd by the laws of the jurisdiction in which the Property is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. Tiffs Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in fids Security Instrument, attacluuents, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, mfless fl~at law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cmmot be enforced according to its terms, that section will be severed and will not affect the enforceability of the renminder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. In the event any section of this WYOMING - MASTER FORIV] MORTGAGE LEWY6 102~0) pa~e 6 of 8 0033017900210 141 23. 24. 25. Security Instrument directly conflicts with any section of the revolving line of credit agreement or promissory note referenced in Section 4, the terms and conditions of the revolving line of credit agreement or promissory note (as applicable), the arbitration agreement and the agreement to provide agreement or pro~nissory note (as applicable), the arbitration agreement and the agreement to provide flood/property insurance, all of which I agree to by signing this Security Instrument, the terms and conditions of said documents and not the Security Instrument shall control. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or as shown in Lender's records, or to any other address designated in writing. WAIVERS. Except to the extent prohibited by law, Mortgagor waives and right regarding the marshalling of liens and assets, and hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of this state. OTHER TERMS. If checked, the following are applicable to this Security Instrument: ~'~ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remaiu in effect until released. ~ Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. [~ Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. ~'] Additional Terms. Home Asset Management Account Rider SIGNATURES: By signing below, Mortgagor agrees to the terms and covena, gls, cont~jOe, d in this Security Instrument and in any attachments. Mortgagor also acknowleOges-"FE-..~.,~ilSi"9f".--a~..eO~'_p,r--61Pthis Security Instrument on the date stat.~ed/n page 1. ~-'/~~j~ Mongagor MARTH~LhpE ~OGHE~ Date Mo(~r~lql~n-~HEl2-[ [}A~ID MUMMA Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date WYOMING - MASTER FORM MORTGAGE LEWY7 1o2~ol Page 7 of 8 20033017900210 1,12 ACKNOWLEDGMENT: (Individual) STATE OF WY COUNTY OF ~ ~']~'~ ~ ~~ The foregoing instrument was acknowledged before me by MARTHA ZOE HUGHES, MITCHELL DAVID MUMMA Witness my hand and official seal. (Signat~O fficer) ~ (Title of Officer) My Conmfission Expires: (Seal) WYOMING - MASTER FORM MORTGAGE LEWY8 io2~o) Page 8 of 8 20033017900210 .I43 HOME ASSET MANAGEMENT ACCOUNT {SM} RIDER TO MORTGAGE/DEED OF TRUST (Open end credit with [--]fixed rate ['~ variable rate interest) This Home Asset Management Account {SM} Rider is dated 11/25/2003 and is an amendment to the Mortgage or Deed of Trust ("Mortgage") of the same date given by the undersigned, MARTHA ZOE HUGHES, MITCHELL DAVID MUMMA (hereinafter "Mortgagor") to secure the borrower's EquityLine with FlexAbilitys~{ Agreement with Wells Fargo Bank, N.A. ("Lender") of the same date covering the property more particularly described in the Mortgage (the "Property"). In addition to the covenants and agreements made in the Mortgage, Mortgagor and Lender further covenant and agree as follows: 1. The word "Note", as used in the Mortgage and this Rider, refers to the EquityLine with FlexAbility sM Agreement and Home Asset Management Account SM Addendum to EquityLine with FlexAbility s~,. 2. Despite any language to the contrary in the Mortgage, Mortgagor covenants that the Property is unencmnbered, except for a first lien purchase money or ref'mance of purchase money encumbrance in the name of Wells Fargo Home Mortgage, Inc., its affiliates, successors or assignees. 3. Paragraph nmnber 4 of the Mortgage, which is captioned SECURED DEBT AND FUTURE ADVANCES is hereby deleted in its entirety and replaced by the following paragraph: SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of the promissory note, revolving line of credit agreement, contract, guaranty or other evidence of debt of same date together with all amendments, extensions, modifications or renewals. The maturity date of the secured Debt is 12/10/2013 B. All future advances from Lender to the borrower under such evidence of debt, whether obligatory or discretionary. All obligatory future advances and advances to cure breeches of covenants contained in the Mortgage are secured as if made on the date of this security Instrument. Nothing in this Security Instrument shall constitute a conunitment to make additional or future loans or advances which eXceed $ 24,937.00 Hamaddr 042903 20033017900210 ~~-~/t//~/~ PAGE1 C. All sums advanced and expenses incurred by Lender for insuring, preserving, or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of tlfis Security Instrument. D. The terms and conditions of the Note referenced in A above include, but are not limited to, a 10 year period for advances under a revolving line of credit. Except iftlfis Note is secured by property located in the state of Te~messee, the parties have agreed that subject to certain qualifying conditions the Lender may extend the period for advances for another 10 years for a total of 20 years. Nothing in this Security Instmmeut shall constitute a conmfitment to extend the period for advances beyond the initial 10 year period. E. Borrower(s) and the Lender have agreed that subject to the satisfaction of certain qualifying conditions, the Credit Line Limit in the Note may be increased quarterly and/or a~muaIly. One of those conditions, inter alia, is the borrower's xnaintenance of a first mortgage loan on the Property with Wells Fargo Home Mortgage, Inc., or one of its afffdiates. (the "WFHM Loan"). All such increases, if any, shall increase the amount of the Maximum Obligation Limit disclosed in Paragraph 4 (if the Mortgage is in Vkginia the "total principal indebtness" in the 3rd recital) and the current Credit Line Limit described in Section 3 hcreinabove in the same amount(s). 4. The Note provides for a monthly variable rate of interest expressed as a daily periodic rate equal to 1/365 of an ammal rate of 1.625 plus the "Index Rate". The Daily Periodic Rate of FINANCE CHARGE may increase if the highest prime rate published in the Wall Street Journal Western Edition "Money Rates" table (the "Index Rate") increases. The initial Daily Periodic Rate of FiNANCE CHARGE is 0.01541096 which corresponds to an initial ANNUAL PERCENTAGE RATE of 5.625 The ANNUAL PERCENTAGE RATE will never be more than 18.00%. Pray increase in Daily Periodic Rate may increase the minimum monthly payments. 5.The Paragraph which is captioned in the Mortgage, on the/~ ----------ntirety. ESCROW FOR TAXF, S'"~I~D ~fyU~E (which may be found as Paragrap. h 19, 20, 21, 23, 24, depending ARTHA Z~ HU~HES Date L~I~IITC~D~A Date Date Date Date Date Date Date Harnaridr 042903 20033017900210 PAGE 2 Exhibit "A" Lot 38 Nordic Ranches Division No. 3, Lincoln County, Wyoming, according to the plat filed April 6, 1993 as Plat No. 311-B. This is a 2nd Real Estate Mortgage recording concurrently with a 1st Real Estate Mortgage dated 11/25/2003 in the original amount of $133,000.00 in favor of Wells Fargo Home Mortgage,Inc. Exhibit "A" Lot 38 Nordic Ranches Division No. 3, Lincoln County, Wyoming, according to the plat filed April 6, 1993 as Plat No. 311-B. This is a 2nd Real Estate Mortgage recording concurrently-with a 1st Real Estate Mortgage dated 11/25/2003 in the original amount of $133,000.00 in favor of Wells Fargo Home Mortgage,Inc.