HomeMy WebLinkAbout897508FEB-25-2004 'WE[
WELLS FflRGO HOME HTO FfiX NO.
402536234]
1039970132
~.~
897508
RECEIVED
_,.,,.,,_,, COUNTY CLERK
.......... LMORTGAGE .....
THIS MORTGAGF. is nmde ~is 2 6~ day 'of
,IUSTT~ T. ~C~SZ'LA¥, A s'r~LE
~Y~LLS FARGO HOME I~.ORT~AH~, INC.
cxisdng under the laws of THE STATE OF CALIFORNIA
2 o 04 , between thc Mortgagor,
(herein "Borrower"), and the Mortgagee'
, a corporation organized and
, whose address is
P.O. BOX 10304, DES MOIN~S, IA 50306030% (herein"Lender").
WH£REAS, Borrower is indebted to Lender in the pCncipal sum of U.S. $ , ** *** * * ** ** 2,8 3 0.0 0 , which
~d extensions and renewals
"i~fl~bt~ness is ~iden~a by Borrower's note dated ~aU~r 2e, 2oo~ with ~c bai~ce of indebtedness, if not
~ereof (herein Note ), provi~ing for ~n~ly inst~ents of princiP~
sooner paid, due ~d payable on ~Cg 0~,
TO $ECU~ to ~nder the repaint of ~e indebte~eas evidenced by ~e Note, with in.rest thereon; ~ payment of all
other su~, wi~ interest ~ereon, ~v~ced ~ a~or~ee herewi~ to prot~t the s~ufity of thi~ Mortgage; ~fl the
p~fo~Ce of ~e eo~en~t$ ~d a~eemmts of Borzowe~ her~n ~nmined, Borrower does h~eby mortgage, gr~t ~d convey
to Lender, wi~ power of s~e, the following d~crib~ prope~ i~at~ in the Coun~ of~eO~ '
State of Wyo~ng:
T~ ~ST~aLY 61 FEET OF LOT 8 OF BLOCK 52 OF THE
~DITION TO THE TO~ OF Ka~ER, LINCOLN CO~Y, ~OMIN~.
, KEM~RER '
which has the address of 312 OPAL STREET [City]
[Streeq
Wyoming 8 3101 ~ere~ "Property Address");
[zip
TOGETHER with ¢1 the improvem~ts now or h~¢er ~ected on ~ propeay, ~d all e~emen~, rights, appu~
~ reals, ~1 of which sh~l be deemed to be ~d remain a p~t of the propeay coverM by this Mortgage; ~d all of ~e
foregoing, together wi~ said prope~y (or ~he l~sehold estate if I~s Mo[tgage is oa a l~ehold) are hereiaaf~r referr~ to ~
the "Prope~y."
Bo~ower ~ven~ts that Bo~o~er is t~w~lly seised of ~e ~tate hereby ~veyed ~d h~ thc tier ~ ~gage, gr~t ~d
~nvw ~e Properly, ~d that ~e Prope~ is ~enc~bered, except for encumbr~ of r~o¢. ~ow~ ~yen~ts that
Bo~ow~ w~r~ ~d will defend g~erally the ~e tO the Prop~y against ~1 olai~ ~d dem~, subj~t to enc~br~c~ of
r~o[d.
~NIFORM COVENANTS. Bo~ower ~d ]~nd¢ ~ven~t~d agree as follows:
1. Payment of ~n~pal and ~ter~t. Borrower ~h~i promptly pay when due ~e princip~ ~d interest ~debt~ness
evidenc~ by ~e Note ~d late chases ~ provided in ~e Note. .
2. ~nds for T~x~ and h~ce. ~bjcct to applicable law or a ~tten waiver by ~nder, Bo~ower a~l pay to
Lender on the day monthly payments of priacip~ and inter~t ~e payable under the Note. ~til the Note is paid in ~I1, a sum
~er~ "Funds") eq~ to one-twelfth of the y~rly t~ ~d ass~s~enb (including ~ndom~ium md pl~n~
developer ~sessment~, if ~y) whic~ ~y attain priority over this Mo~gage ~d gro~d ren~ on ~e Prope~, if ~y, pl~
onmtwelf~ of yearly pre.urn imt~l~nts for h~rd insur~ce, plus one4welfth of ye~ly premium i~t¢im~ for modgage
i~r~ce, if ~y, ~1 ~ r~nably esti~ted initially ~d from time to ti~ by ~der on the b~is of assess~ts and bills ~d
r~enable estimates thief. Borrower shall not be obligated to m~e such payments of Fun~ to ~nder ~o the extent that
Bo~ower Cea su~ pay~ to ~e hold~ of a prior mo~gage or deed of t~t if such holder is ~ ins~m6onal lender.
L WYOMING - SECOND MORTGAGE' 1180- FNMAIFHLMC UNIFORM INST~Form
VMP MOBTG~ ~ORM~- {8~1~21-7291
'<'?,:::';3' -:' :~
FEB-25-2004 l/El) 01;50 PFI I/ELLS FARGO HOI'IE PITG FAX NO, 4025382341 P. 04
If Borrower pays Fund~ to Lender, the Funds shall be held in an institution tl~ deposits or accounts of which are insured
or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to
pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the
l%nds, analyzing said account or verifying and compiling said assessments and bills, units Lender pays Borrower interest on
the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of
execution of this Mortgage that interest on the Funds shall be paid to Borrower, and unless such agr~ment is mane or
applicable law requires such interest to be paid, L~der shall not be required to pay Borrower any ins=rest or earnings on the
l%nds. Lender shall give 'to Borrower, without charge, an annual accounting of the Funds showing credits and debits to th~
Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums
secured' by this Mortgage. '
If the amount of the Funds held by Lender, together with the future monthly installmc-nts of Funds payable prior to thc due
dates of taxes, assessments, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes,
assessments, insurance premiums and ground rents as they fall duc, such exc~.ss shall be, at Borrower's option, either promptly
repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held hy Lender shall
not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay.to l_~nder
any amount necesss.ry to rage 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 un,er paragraph 1'7 hereof the Prop~y 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 Payments. Unless applicable law provides otherwise, all paym~nts received by Lender under the Note
and paragraphs 1 and 2 hereof shall be applied by Lender first 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 Nom.
4. Prior Mortgages and Deeds or Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under
any mortgage, deed of ~rust or other security agreemem with a lien which has priority over this Mortgage, including Borrower's
covenants to make payments when due. Borrower shall pay or cause to bc paid all taxes, assessments and other ch~trges, fines
and impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground
rents, if any.
5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter er~ted on the Property insured
against loss by fire, hazards included within the term "extended coveragei" and such other hazards as Lender may require mad in
such amounts and for such periods as Lender may require.
The insuranc~ carrier providing the insurance shall he chosen by Borrower suhJect to approval by lender; provided, that
such approval shall not be unreasonably witl~eld. All insurance policies and renewals thereof shall be in a forns aa:eptahl¢ to
Lender and shall ine.lude a standasd mortgage clause in favor of and in a form acceptable to Lender. l.~nder shall have the right
to hold the policies and renewals thereof, subject to the terms of any morigage, deed of trust or other secm'ity agreement with a
lien which has priority over this Mortgage.
In the event of loss, Borrower shall give prompt notice to the insur~mce carrier and Lender. Lender may ma.kc proof
if not made promptly by Borrower.
If the Propmy is abandoned hy Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is
mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authoriz~ to
collect and apply the insuranc~ proceeds at Lender's option either to restoration or repair of the Property or to the sums
by this Mortgage.
6. l:'r~,,ervation and Maintenance ol' Property; Leaseholds; Condominim'ns; Planned Unit Developments. Borrower
shall ke~p the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and
shill comply, with the provisions of any l~ase if this Mortgage is.on a leasehold. If this Mortgage is on a unit in a condominium
or a planned unit development, Borrower shall per?orm all of Borrower's obligations under the declaration or covenants creating
or governing the condominium or planned unit developrn~t, the'by-laws and r~g~lations of the condominium or plmmed unit
development, and constituent documents.
'7. Protection olr Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or pro~eding is.commenced which materiall~ afl'ts Lender's interest in the Property, then Lender,
a~ Lender's option, upon noti~ to Borrower, may make such appearances, disburse such sums, including reasonable attorneys'
fees, and take such action as is necessary to protect Lender's interest. If Lender required mo. rtgage insurance as a condition of
making th~ loan secured by this Mortgage, Borrower ~hall pay the premiums required to maintain such insurance in effect until
such time as the requirernent for such insurance teru~irmte* in ~tccordanee with Borrower's and Lender's written agreement or
applicable law.
Any.amounts disbursed by I..~nder pursuant to this paragraph .7, with interest thereon, at the No~e rate, shall becom~
additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other ~erms of payment,
such amounts shall be payable upon notice from Lender to Borrower requesting paym~t thereof. Nothing contained in this
paragraph '/shall require Lender to incur any expose or t~e any action hereunder.
8. l.nspeetion. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
that Lender shall give Borrower notice prior to any such inspection specifying reaso~ble cause therefor related to
interesl in me Property.'
9. Condemnation. The proceeds of any award of claim for damagei, direct or consequential, in connection with any
condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condenmation, are hereby assigned
and shall be paid to Lender, subjec! to the ten'm of any mortgage, deed of trust or other security agreement with a lien which
has priority over this Morlgage.
10. BorroWer Not Released; Forbearance By Lender. Not a Waiver. Extension of the time for payment or modification
ct' amortization of the sums secured hy this Mortgage granted by Lender to any successor in interest of Borrower si'mil not
operate to release, in any manner, the liability of the original Borrower and Borrower's successors in 'interest. Lender shall not
be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify
the sums secured hy this Mortgage by reason of any demand made by th~ original· Borrower and Borrower's
amortization of
successors in interest. Any forbearance by Lender in exercising any right or rern~y hereunder, or otherwise afforded by
applicable law, Shall not b= ~t waiver of or preclude the exercise of any such right or ren'~ly.
ll~itl~l]~
FEB-25-2004 WED 01:51 PM WELLS FARGO HOME
FAX NO. 4025362341
030
P, 05
lt. Successors and .Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
contained shall bind, and the rights .hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
subject to the provisions of paragraph 16 .hereof. All 'covenants ind agreements of Borrower shall be joint and several. Any
Borrower who co-signs this Mortgage, but do~.~ not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant
and convey that Borrower's interest in the Property to Lender 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 make any other accommodations with regard to the terms of this Mortgage or the Note without that Borrower's
consent and without releasing that Borrower or modifying this Mortgage as to that Borrower's interest in the Property.
lg. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower
provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower
at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any
notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may
designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been
given to Bor'rower or Lender when given in the manner designated herein.
...... I3;-Governing Law~_Severability.-.The state-.aid 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 Mortgage or the Note which can be given effect without the conflicting provision, and to
this end the provisions of this Mortgage and the Note are declared to be severable. As used herein, 'costs," "expenses" and
"attorneys' fees" include all sums to the extent not prohibited by applicable law or limitat 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's 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 aforna acceptable to Lender, an assignment of any fights, claims or defenses
which Borrower may have against parties who supply labor, materials or services in connection with improvements made to the
· or interest in it
Property.
ltl. Transfer of the Property or a Bene'rieial Interest in Borrower. If all or any part of the Property any
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
of not
Mortgage.
' If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
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 remedie-~ permitted
by this Mortgage without further notice or demand on Borrower..
NON-UNIFORM COVENANTS. Borrower and Lender further covenant aM agree as follows:
v' ed in ara raph 1.6 hereof, upon Borrower's breach of any. co~enant or
· . oration' Remedies. Except as pro Id _ P g ......... ~,,,,, a v tuns secured by this Mortgage,
17. Accel ' ..... ~,,~--, .... inoludi ~ the covenams ~u pa~ ....... ue an, s
agreement of Borrower In mis ~uo.~a~, ........ n. .
Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof speCifying: (1) the breach;
(l) the action reqttired to cure such breach; (3) a date, not less than I0 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 specified in
the notice m~y result in acceleration of the sums secured by this Mortgage. The notice shall further inform Borrower of
the right to reinslate after acceleration and the right to bring a court action to assert the nonexistence of a default or any
other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the notice,
Lender, at Lender's option, may declare all of the sums secured by this Mortgage to be immediately due and payable
without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender
shall be entitled to collect all reasonable costs and expenses Incurred in pursuing the remedies pro,ideal in this paragraph
17, including, but not limited to, reasonable attorneys' fees.
If Lender invokes the power of sale, lMnder shall give notice of intent to foreclose to Borrower and to the person in
possession of the Property, if different, in accordance with applicable law. Lender shall mail a copy of a notice of the sale
to Borrower in the manner provided in paragraph Il 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 shail be applied in-the following order; (a) to all res.sortable costs..and._ex.'Perises of the sale,
including, but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums ~ecured by this
Mortgage; and (c) the excess, if any, to the person or persons legally entitled thereto.
18, Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to
ye an roceedings begun by Lender to enforce this Mortgage
Borrower's breach, Borrower shall have the right to ha Y P . - ~ -~.~--prnnenvoursuant to the powerof sale
discontinoed at any tirn~ prior to the earlier to occur of (i) the fifth day oelore sale el u~ ___~__. ,. '
contained in this Mortgage or (ii) entU 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 li~ of this Mortgage, Lender's interest in the Property and Borrower's
obligation to pay the sums ·secured by this Mortgage shall continue tmimpaired. 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. Assignmeaat of Rents; Appointment of Recei*er; Lender in Possession. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Property; provided that Borrower shall, prior to acceleration under paragraph
hereof or abandonment of the Properly, have the right to collect and retain such rents as they become due and payable.
Form 3851
FEB-25-2004 WED 01:51 PI1 WELLS FARGO HO[IE IITG FAX NO, 4025362341 P, 06
upon ~elerafion u~der p~a~raph 17 her~f or abando~en~ of ~h~ prope~y. ~d at ~y dmc prior ~o ~e expiration ot'
~y ~fiod of redemption follo~n~ judicial s~e, Lender. in per,on, by agent or by juicily aPpointed reviver, s~ll
endfl~ to ent~ upon, ~e ~s~iou of ~d ~a~ ~he Property ~d to co[lec.~ ~e r~Is of ~ Prope~y ~ncludin~ those
due. All ren~s collec~ by ~der or the r~ver shall be appli~ firsl to pay~n~ o~ ~e costs of ~age~nt of th~ property
~d ~llection of rents, including, but not li~ted to. r~elver's fees, premiums on r~ver's bonds ~d reaso~ble attorneys'
fees, md ~en m the su~ se~r~ by ~is Mo~gage. ~nder md ~ r~[ver shgl be liable m ~co~[ only tbr ~ose r~s
· " to
~t~y r~iv~.
20. Rel~e. Upon pay~nt of gl s~ S~ur~ by ~s Mo~gate. ~nder sh~l rel~e ~his Mongate without charge
Bo~0wer. Bo~ower t~l pay ull ~sts of r~or~tion, if ~y.
21. Waiy~ of Homier. Borr~ hereby w~ves ~1 fi~t of homestead exempt[on in.t~ Prope~.
REQUEST FOR NOTICE OF DEFAULT
--AND FORECLOSURE UNDER SUPERIOR' MORTGAGES OR DEEDS OF TRUST
Borrower and Lender e t thc holder of any mortgage, d.eefl oi ,m..st or oth,~r encumbra.n, ce w h
r q.ues ........... ~ *-~er's address se[ tortb, on page one oi
priority over this Mortgage to g~ve P/once to l.~auc~, ~,
under the superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower hss executed tMs Mortgage.
. (Seal)
-Borrower
(Seal)
(Seal)
- -Borrower -
(Seal)
.Borrower
(Sign Original Only)
by
STATE OF WYOMZNG, Lin co in
The foregoing instrument was acknowledged before me this
JUSTIN T. MISPLAY, A SZNGLE p~.RSON
My Commission Expires: February 2, 2006
County ss;
26th day of February, 2004
No*.ry Public
SHEU.EY ~ · NOTN:TY P~JSUC
__ [$pac~ Below Thi~ Linc ReacrvM For l~ler aM P.~c~rdex]
Form 3861