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Home My WebLink About875174 WCDADOWNpAYMENTLOANMORTGAGE LoanNumber: 11326062473 ThisMortgage("Securitylnstrument")isgivenon ~°"s~ 8. 2001 .TheMoagagoris ~illiam [. C~kovteh & Ouine Ellen Cmkov~eh whoseaddressis PO Box 214 Alton ~ 83110 (Bo~ower).Th~sSecuntylnstmmenhsg~vent0 First National Bank-~est I National Banking Association who is organizedand~x~sfingundorth~lawsof~nltad '~tates of ~r~ca andwhos~address Bo~ower owed Lender th~ principal sum of ~o ~ou~and Four ~undr~d Dollars ($ 2~00.O0. · ).'ThisdobtisevidencedbyBo~ower'sNotedatedthesamedateasthis S~curity Instrument ("Note"), which provides for monthly payments, with the ~11 debt, if not paid earlier, due and payable on ~pte~b~ _!~,~ 200~ . th~s Security Instrument secures to Lender: (a) therepayment o~tMd~~cedbytheNot~, with~nterest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest, advanced under Paragraph 6 to protect the security o~this Security Instrument; and (c) the performance of Bo~ower's covenants and agreements under this Securffy Instrument and the Note. For this pu~ose, Bo~ow~r does hereby mo~gage, grant and convey to Lender, w~th power of sale, the following described property located in ~.~ ~ County, Wyoming: --. Lot 6 of Block 35 .of the Glen ~ennington et al Addition to the To~ of..lfton, Lin'eoln County, ~yoming as described on the official plat thereof. BOOK PR PAOE.__~ which has the address of 602 ~dison Street Afton · :c~..::.. Wyoming, 8311O,'~ ~ '~'~zin ~ cod~)("Prope~yAddress"); .~ ', TOGETHERWITH ~d alltheimprovementsnow orherea~er erected ontheprope a~easements~rights~appu~enances~rents~r~ya~ties~minera~i~andgasrightsandpr~ts~ rights and stock and all fixtures noworhereaffer apa~ 0ftheprope~y. Allreplacements and.~ additions shallalsobecoveredbythis Securitylnstrument. Allo ftheforegoingisreferredtoin this Securitylnstmmentas',Property,,' BO~OWER CO~NANTS that Bo=ower is law~lly seized of the estate hereby conveyed andhas the right to moagage, grant and conveythe Prop erW andthatthe Propeay is unencumbered, exceptforencumbrancesofrecord. Borrowe~axantsandwilldefendgenerally MPPFo~219 ' thetitlet thePropertyagainstall a msand emands su Jecttoanyencumbranc 3s ° r . 1. Payment of Principal, Interest, Default Interest and Late Charges . Borrower shall p ay when due the princip al of, and interest o n, the debt ev idencedby theNote, defaultinterest,ifapplicable,andlatechargesdueundertheNote. 2. Payment of Taxes, InSurance and Other Charges. Borrower shall make timely payment of any (a) taxes and special assessments levied or to be levied against the Property, (b) leaseholdp ayments or ground rents onthe Property, and (c) premiums forinsurancerequiredbyParagraph4. TheBorrowershall furnishproofofpayment toLenderuponrequestbytheLender. 3. Application°fPaymeats .AllpaymentsunderParagraphsland2sl~allbeapplied byLenderasfollows: ' First,tointerestdueundertheNote; Second,toamortizationo fthepr~ncipaloftheNote Third,tolatechargesdueundertheNote. 4. Fire,FloodandOtherHazardlnsurance. Borrowershallinsureallimprovements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which Lender requires insui~ance. ThisinsuranCe shallbemaintainedintheam0'untsand for theper[0dsthat Lender requires. Borrower shall also insure all improvements on the Property, whethemow in existence or sub sequently ere cted against lo ss by flo o ds to the extent requiredby the Lender. All insurance shall be carried with companies approvedby Lender. Theinsurancepoliciesandanyrenewalsshallincludelosspayableclausesin favor o f, and in a form acceptable to, Lender. Borrower shall furnish a copy of the policyorpoliciesofinsurancetotheLenderuponrequestbytheLender. In the event of loss, Borrower shall give Lender immediate notice by mail. Lender maymakeproofoflossifnotmadepromptlybyBorrower. Eachinsurancecompany concernedisherebyauthorizedanddirectedtomakepaymentforsuchlossdirectlyto Lender,i~steadoftoBorrowerandtoLenderj ointly. Alloranypartofthcinsurance proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order inParagraph 3, and thento prepayment ofprincipal or (b) to the restoration or repair of the damaged property. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments which are referred to in Paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstandingindebtednessundertheNoteandthis Securitylnstrumentshallbepaidto theentitylegallyentitledhereto. Inthe event of foreclosure of this S ecuritylnstrumentor othertransfer oftitleto the Propertythatextinguishes the indebtedness, allright, title andinteresto*fB orrowerin andtoinsurancepoliciesinforceshallpasstothepurchaser. 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrow.er's LoanApplication;Leaseh01ds . BorrowershalloccUpy, establish, and use the Property as Borrower's principal residence within sixty days after the 2 0 75174 335 execution of this Security Instrument and shall continue to occupy the Property as principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrow, er's principal residence for at least one year after the date of occupancy, unless the Lender determines this requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall notify Lenders .of any extenuating circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear andtear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to Protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the loan applicationprocess. gave materially false or inaccurate information or statements to Lender (or failed to provideLenderwithanymaterialinformation) incormectionwiththeloanevidenced by ihe Ngte, including~ but not limited to, representations concerningBorrower's occupancyofthePropertyas aprincipalresidence. Ifthis SecurityInstrumentisona leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires feetitletotheProperty,theleaseholdandfeetitleshallnotbemergedunless Lenderagreestothemergerinwriting. 6. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shallp ay all governmental ormunicip al charges, fines and impositions that are not.inchided in Paragraph 2. Borrower shall pay these obligations' on time directty[o the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request, Borrower shall promptlyfurnishtoLenderreceiptsevidencingthesepayments. IfB orrowerfailstomakethesepaymentsorthepaymentsrequiredbyParagraph2,or fails to perform any other covenants and agreements contained in this Security Instrument, orthereisalegalproceedingthatmaysignificantlyaffectLender, srights in the Prop erty (such as a proc eeding in bankruptcy, for condemnation or to enforce lawsorregulations),thenLendermaydoandpaywhateverisnecessarytoprotectthe vahieofthePropertyandLender' srightsintheProperty,includingpaymento ftaxes, hazardinsuranceandotheritemsmentionedinParagraph2. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower andbe securedbythis Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, or the default interest rate,andattheoptiono fLender,shallbeimmediatelydueandpayable. 7. Condemnation. The. proceeds of any award or claim for damages, direct or consequential,inconnectionwithanycondemnationorother takingo fanypartofthe Property, or for conveyanceinplace of condemnation, areherebyassignedand shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument,firsttoanydelinquentamountsappliedintheorderprovidedinParagraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend orpostpone the due date of the monthly payments, which arereferredto inParagraph2, orchangethe amount ofsuchpayments. Any excess 3 proceedsoveranamountre~tuiredtopayalloutst~ndingindebtcdnessundertheNote andthisSecUrityInstrumentshallbepaidtotheentitylcgallyentitlcdthereto. 8. Grounds forAccelera~ionofDebt (a) Default. Lendermayrequire immediatepaymentinfullofall sums securedby this S ecuritylnstrumentif: (i) Borrower defaults by failing topayin full an~,monthlypaymentrequired bythisSecuritylnstrumentpriort0orontheduedateoflhenextmonthly payment,or, (ii) Borrower defaults by failing, for a period of thirty days, to perform any otherobligationscontainedinthisSecuritylnstmment. ... _ .. (b) Sale Without credit Approval. Lender shall, if permitted by applicable law, require immediate payment in full of all the sums secured by this Security Instrumentif: (i) AllorpartoftheProperty, orabeneficialinterestinatrustowningall or partoftheProperty, is soldorotherwisetransferred(other thanby devise ordescent)bytheBorrower,and (ii) ' The Propei'ty is not occupied by the purchaser or grantee as his or l~er "- .,..' principal residence, or the purchaser or' grantee does so Occupy the Propertybuthis or her credit has not been approved in accordance with therequirernentsoftheLender. (c) Defaultlnterest. IfLenderhasnotreceivedthefullmonthlypaymentrequired by the Security Instrument by the end of the thirty day calendar days after the paymentisdue,LendermayincreasetheinterestrateasdescribedinParagraph2 of the Note to twelve percent (12%). Lender may choose not to exercise this optionwithoutwaivingitsrightintheeventofanysubsequentdefault. (d) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require suchpayments, Lender doesnotwaiveitsrightswithrespecttosubsequentevents. 9. Reinstatement. Borrower has the right to be reinstated if Lender has required immediatepaymentinfullbecauseofBorr0wer's failuretopayanamountdueunder the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under .this Security · Instrument, foreclosure costs and reasonable and customary attorneys' fees and expensesproperlyassociatedwiththeforeclosureproceeding. Uponreinstatementby B orrower,this Security In strument andthe obligations, that it secures shallremainin effect as if Lender hadnot requiredimmediate payment in full. However, Lender is not requiredto permit reinstatement iff (i) Lenderhas acceptedreinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement ofacurrent foreclosure proceeding, (ii) reinstatement willpreclude fore closure on d i fferent grounds inthefutu?e, or(iii)reinstatementwill adverselyaffectthepriorityoftheliencreatedbythisSecuritylnstrument. 4 10. BorrowerNotReleased]¥orbearaneebyLenderNotaWavier. Extensionofthe timeofpaymentormodificationofamortizationofthesumssecuredbythisSecurity Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made bythe original Borrower or Borrower's successors inintercst. Any forbearancebyLenderinexercising anyright ormmedy shall notbe awaiverofor precludetheexerciseofanyrightormmedy. 11. Successors and Assigns Bound; Joint and several Liability; Co-signers . The covenants and agreements of this Security Instrument shall bind and benefit the successors and assighs of Lender and Borrower, subject to the provisions of Paragraph 8 (b). Borrower's covenants and agreements shall be joint and several. .AnyB°.rr°.werwh° c°'~signs this SecurityInstrument doesnot execute theNote (a) Is co-s~gmng this Sec'~urity Instrument only to mortgage, grant and convey that B°rr°wer'sinterestinthePropertyunder theterms of this SecurityInstrument;(b) is notpersonallyobligatedtopaythe sums securedbythis SecurityInstrument; and (c) agrees that Lender and any otherBorrowermay agree to extend, modify, forbear or makeanyaccommodafionswithregardtothetermsofthis Securityinstrumentorthe Notewith'outthatBorroWer'sconsent. 12. Notices. Any notice to Borrowerprovided forinthis Securitylnstrument shallbe given by delivering it or by mailing it by first class mail unless applicable law r~quiresuse ofanothermethod. The notice shallbe directedto theproperty address oranyotheraddress BorrowerdesignatesbynoticetoLender. AnynoticetoLender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security InstrumentshallbedeemedtohavebeengiventoBorrowerorLenderwhengivenas providedinthisparagraph. 13. Governing Law; Severability. This Security Instrument shall be governed by · Federal law and the law o fthejurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other'provisi, ons of this Security Instrument or the Note which can be given effect without the conflicting provision. To this endtheprovisionofthis Securitylnstrument andtheNote are declaredtobe severable. ' 14. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 15. AssignmentofRents :. Borrowerunconditionallyassigns andtransfers toLenderall the rents and revenues of the Property. Borrower authorized Lender or Lender's agentstocollecttheren[sandrevenuesandherebydirectseaehtenantoftheProperty topaytherentstoLenderorLender's agents. However, prior to Lender' s noticeto Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shallcollect andreceiveallrents andrevenues of the Property 5 24 338 as trustee for the benefit of Lender and Borrower. This assignment of rents constitu~esanabsoluteassignmentandnotanassignmcntforadditionalsecurityonly. IfLendergives noticeofbreachtoB orrower: (a) allrents receivebyBorrowershall beheldbyBorrower as trustee forbenefitofLender only, to be appliedto the sums securedbythe SecuritYInstmment; (b)Lendershallbeentitledtocollectandreceive alloftherentsoftheProperty;and(¢) eachtenantoftheProperty shallpayallrents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrowerhasnotexecutedanypriorassignmentoftherentsandhasnotandwillnot perform any act that would prevent Lender from exercising its rights under this Paragraph 15. Lender shall not be required to enter upon, take control o for maintain the Property before oraftergivingnoticeofbreachtoBorrower. However, Lenderorajudicially appointedreceivermaydo so at anytime thereis abreach..Anyapplicationofrents shallnot .cure orwaiveanydefaultorinvalidateanyotherrightorremedyofLender. Thisassignmentofrents ofthepropertyshallterminatewhenthedebt securedbythe Securitylnstrumentisp. aidinfull. TheLenderorajudiciallyappointedreceivershall notbe required to post any bond or other security to enter upon, take control of or maintaintheproperty. NON43NIFORMCOVENANTS. BorrowerandLenderfurthercovenantandagree asfollows: 16. Foreclo~ureProcedm'e.IfLenderrequiresimmediatePaymentinfullunder Paragraph 8,Lendermayinvokethepowerofsaleandany otherremediespermitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Paragraph 16, including, but not limited to, reasonableattorneys' feesandcostsoftitleevidence. IfLenderinvokesthepowerofsale,Lendershallgivenoticeofintenttoforecloseto BorrowerandtothepersoninpossessionoftheProperty, ifdifferent, in accordance with applicable law. Lender shall give notice o fthe s ale to Borrower in the manner providedin Paragraph 12. Lendershallpublishnotice of sale, andtheProperty shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the followingorder: (a) to allexpenses o fsale,including,butnotlimitedto,reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excesstothepersonorpersonslegallyentitledtoit. 17. Release,UponpaymentofallsumssecuredbythisSecuritylnstrument,Lendershall releasethis SecuritylnstrumentwithoutchargetoBorrower. Borrowershallpayany recordationcosts. 18. Waivers. Bon'ower waives all rights of homestead exemption in the Property and relinquishesallrightsofi:urtesyanddowerintheProperty. RiderstothisSeeuritylnstrument. IfoneormoreridersareexecutedbyBorrowerand recordedtog~therwiththis Securitylnstrument, thecovenantsofeachsuchridershallbe 6 incorporatedintoand shall amend and supplementthe covenants and agreements of this Security Instrument as ifthe rider(s)werein apartofthis Securitylnstmment. [Check applicablesp, ace(s)]. CondominiumRider _ GraduatedPaymentRider GrowingEquityRider PlannedUnitDevelopment Rider Other [Specify] ~Other BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in pages 1 through 7 of this Security InStrument and in any rider(s) executed by B orrowerandrecordedWithit Witnesses: B?? wer wim cr.k.ovich- . Borrower qu~ne Ellen Crnkov%eh Borrower Borrower STATEOFWYOMING,. LINCOLN Countyss: Theforegoinginstmmentwasacknowledgedbeforemethis a,-~..~y ..~ a..g..o,..mO1 by, William A. Crnko-v-i-ch-~nd--Q~-~k--E-l~e-~ Crnkov4.ch MyC°mmissi°nExpires'~.~{ , 9~ , ~.Oo~ Kerry Mil!ich- Notai',y P,!.. Commission Expires ~;IO.,,-