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HomeMy WebLinkAbout878488 Reeordin~ requested by: WELLS FARGO BANK, N.A. I':! r~:.' (.'; l!~ I"¢ ti [) '.~:,,'~t !..! "'~"' '~'":"" CLERK When recorded remrn to: Wells Fargo Bank, N.A. P O BOX 3165-7 ~ ;: il t":l )' ~ :: ")' .::, 5 :"'"" ~' ' BI-LL NSS MT 5g'O'7 , ,. ~..~.. . DOCUMENT MANAGEMENT hOOK'_~.~. PRPAGE 163 State of Wyoming Space Above Tiffs Lhle For Reco~.dh~g Data' REFERENCE #: 20033333'000118 ACCOUNT #: MORTGAGE (With Future Advance Clause) 1.: DATE AND PARTIES. The date of this Mortgage ("Sectrrity Instrument") is ~ 2 / ~ 8 / 2001 and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR:OAt/ D SCOTT JENKI NS. A S I NOLE MAN [] If checked, refer to the attached Addendum incorporated herein; for additional Mortgagors their signatures and acknowledgments. LENDER: WELLS FARGO BANK, N.A, -' P O. BOX 3155-7 BILL,NOS. MT 591 ~2. 'CONVEYANCE. For good and valmtble consideration, the. receipt and: SUfficient3, of which is acknowledged, and to secure" ' the Secured Debt (defined below) and Mortgagor's performance ui~derl this iSecurity Instnlmem, Mortgagor grants, bargains, ~ conveys, mortgages and warrants to Lender, with Power of dale, the foll6wing described property: LOT 52 OF THREE R VERS MEADOW ESTATES, SUBDIVIS O~ 'B', ACCORD.XlO TO THAT PLAT RECORDED IN THE OFF~CE OF THE COUNTV CLERK, ..NCOLN COUNTY, WYOMING.: The property is located in L I N O 0 L N at: 444 MEAD6WS 0RIVE AL~' NE, and parcel number of 3-71828308021 O0 " together with all rights, easements, appurtenances, .royalties, mineral rights, oil and gas rights, all water and ripariat~ fights, ditches, and water stock and all existing and future improvements, structures, fixtnres, and replacements that may now or ar any time in the furore be part of the real estate described above (all referred tr~ as "Property"). 3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall, not exceed $ ~ 2,000.00 . This limitation of amount does not include interest and other fees and charges validly made' pursuant to this Security Instnunent. 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 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 promissoE¢ note, revolving line of credit, comract, guaranty or other evidence of debt dated ~ 2 / n 8 / 2oo ~ together with all amendments, extensions, modifications and renewals, and having a maturity date of ~ 2 / 18 / 2031 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 this Security Instrum,ept Nothing in this Security Agreement shall constitute a commitment to make additional or future loans Or advances which exceed the amount shown in Section 3. Any such commitment inust be agreed to in a separate writing. EQ150A (3/2001) C. All sums advanced and expenses incurred by Lenfier for insuring', preserving, or ~ 6 4 otherwise protecting the Property and~ its value and any other sums advanced and expenses incurred by Lender under the terms of this 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 this 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 an), notices that Mortgagor receiVes from the holder. C. Not to allow any modification or extension of, nor to req,uest an), 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 tax,es, assessments, liens, encumbrances, lease payments ground rents, utilities, and other charges relatfiig to the ProPerty when due. Lender may require Mortgagor to provide to Lender coPies o£ all notices that such. amounts are due. and the receipts evidencing Mortgager's payment. Mortgagor will defend title to the Property against any claims that would Impair the lien of the Security Instrument.i Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 8. DUE ON SALE OR ENCUMBRANCE. Upon sale, transfer, hypothecation, assignment 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 circumstances where exercise: of such a right by Lender is prohibited by law~ 9. PROPERTY CONDITION, ALTERATIONS AND INSPE, CTION, Mortgagor will keep the Property in good condition and make ail repairs 'ihat are reasonably necessary. Mortgagor shall not commit or allow any waste, impairment, or deteri°ration of the Property. Mortgagor will keep the Property free of noxious weeds i 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. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor, and of anvloss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at any rea~0nable time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an i~specti6n specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on ender s mspecuon. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this: Security lnstrument, Lender may, without notice, perform or cause them to be performed Mortgagor anDomts Lender as attorne ' . · , , ~ · __ y m fact to sl, gn Mo,~.gag.or s,nam5or pay any amount necessary for performance, Lender's right to perform for Mortgagor .qhall not create an oDngauon 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 Ptopelty, ihcluding completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and 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,,portio_,n, of the Property, including any extensions, renew, als, ~.o, difications 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 assignment is immediately effective between th~ parties to this Security Instrument. Mortgagor agrees · that this assignment is effective as to third parties when Lender takes ~irmative action prescribed by. law, and that th. assignment will remain in effect during any redemption period until the Secured Debt is satisfied Mort a ~r a r~es thai Leu Is · g g ~ g der may take actual possession of the property without the necessity of commencing legal action and that actual possession'is de~med to occur when Lender, or its agent, notifie'} Mortgagor of default and demands that any tenant pay all :futule Rents directly to Le, nder. On receiving notice of default, Mortgagor will endorse and deliver to Lender an a ment of en ' Mo · ' ' , ' · · Y p y R ts m rtgagor s possession and w~ll receive any Rents m trust for Lender and w~ll 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; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold, ffthe 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 Mortgager's obligations 'under the Constituent Documents. The Constituent Documents are the. 0) Declaration or any other document ~hich creates the Condominium Projects: or PUD'and any homeowners association or equivalent enti~ ("Owners Association"); 0i) by-laws; (iii) code of regulations; and (iv) Other EQ150B (3/2001) 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" ' ' ' ' . ' ' ' ' ' '. ' Property is deemed satisfied to the extent that the required coverage is 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 common elements, any proceeds payable to Mortgagor are hereby assigned and shall be paid~ to Lender for application to the sums secured by this Security Instru~nent, with any excess paid to Mortgagor. C. Flood Insurance. Mortgagor agrees to maintain 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 may be reasonable to insure that the Owners Association maintains 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 conseqtlential, 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 common elements, or for any conveyance in lien of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be apphed by Lender to :the sums secured by the Security ~nstrument 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: ti) ~e abandonment or termination of the Condominium Project or PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or m the case of a taking by condemnation or eminent domain; (ii) any amendment to any prov~sion of the Constituent Documents if the provision is for the express benefit of Lender; (iii) termination Of professional management and assumption of self- management by the Owners Association; or (iv) any action which would have the effect of renderh~g the public liability insurance coverage maintained by the Owners Association unacceptable to Lenderl G. Remedies. If Mortgagor does not pay condominium or PUD· dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this section shalLbecome 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. ~ ! 13. DEFAULT. Mortgagor Will be in default if any' .party obligated on ~the: SecUred Debt fails to make payment wlien due. 'MortgagOr will be in default if a breach occurs under the terms of this Security Instrument or any other docum~,nt eXeCuted for the purpose/ff creating, securing or guarantYing the Sec~tred 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. 14~ 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 may establish time schedules for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a manner 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 immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be ;entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related documents, including without llrmtatmn, the power to sell the iProperty. :All remedies are d~stmct.,: cumulative: and not exclusive, and the Lender is entitled to air-remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or pa~aI phyment 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 right to require complete cure of any existing default. By not exercising any remedy on Mortgager'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 COVENAN_T,S; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, l~ortgagor agrees to pay all of Lender s expenses if Mortgagor breaches any covenant in this Security instrument. Mortgagor will also pay on demand any amount 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 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 Lenders' rights and remedies under this Security Instrument. 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 the Lender. Th~s Security Instrument shall remain in effect until released. Mortgagor agrees to pay for any recordation costs of such release. EQ~1500 (3/2001) 16; 'ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in:this section, (1) Environmental~ Law means, without limitation, the Comprehensive Environrnental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, 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 term includes. Without hm~tatmn, 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 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 m full comphance 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 Environmental Law concerning the Property In such an event, Mortgagor shall take all necessary remedial action in accordance with any :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 Substanc~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 ail of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor' name'in any of the above described actions or claims. Mortgagor assigns to Lender: the proceeds of any award or claim for. damages connected with a condemnation or other 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 assignment of proceeds iS subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 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 insuran~ce shall be chosen by Mortgagor subject to Lender's approv which shall not be unreasonably withheld. If Mortgagor fails to maintain the coverage described above, Lender may, at Lender-aJ~ 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 pplicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. ender shall have the right i0 hold the ~olicies and renewals. If Le~derl requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor ' Unless otherwise agreed ~n writing, all msuranc.e' proceeds shall be apphed 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 thel due :date of the scheduled payment nor change the amount of any payment. Any excess will be paid to Mortgagor. If the PrOperty is acquired by Lender, Mortgager'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 immediately before the acquisition. 19.':.ESCROW I*O:R TAXES AND INSURANCE; Unless o.thenvise provided in a separate agreement, Mortgagor will not'be required to pay to Lender funds for taxes and insurance in escrow. 20. i*INANCIAL REPORTS AND ADDITIONA~L DOCUMENTSi Mortgagor :will provide to Lender upon request, any financial statement or information Lender may ~leem reasonably necessarY. Mortgagor agrees to sign, deliver, ami file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgager's obligationg under this 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 Mortgager'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 fights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, blt 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 am) Change in'the terms of this -Security Instrument or any evidence of debt without Mortgager'S consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of tiffs Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; IN,TERPRETATION. This Security Instrument is governed by the laws of the EQ150D (3/2001) , .... , 1'6 7 jurisdiction in which the Property is located, except to the extent otherwise required by the ]aws of the jurisdiction where the Property is located. This Securib, Instrument is complete a~d ~lly integrated. This Securi~ Instrument m~v not be amended of modified by oral agreement. Any section in this Securi~ ~nstmment, attachments, or any a~eement r~lated'to the SeCuled Debt that co~icts with applicable law will not be effective, unless that law ~ressly Or impliedl~ pe~its the variations by written agreement. ~: any section of this ~ecuri~ [nst~ment cannot be e~fforced accor~ng to its terms~ that section will be sewred and ~will not affect the e~fforceability of the remainder of tiffs SecuriW Instalment. ~enever used, the sin~lar Sh~l ihclUde the plUral and the plural'the singular. The captions and headings of the ~ections of this 8ecuriW I~ment are for cOnVenience :only and are not to be Used to inte~ret or define the terns of this SecuhW Instrument. Time is of the essence in tl~s Securi~ Instrument. In the event any sechon of this SecuriW Instrument directly co~icts ~4th any section of a certain Home Equity Closing Handbook w~ch contains the Account Agreement Terms and Con~ons (as applicable), Fixed Rate Note Terms and COnditions (as applicable), the Arbitralion Agreement, mid the Agreement to provide Flood~roperty Insurance, all of which I agree to by s~gmng, tlns Secun~ hum~ment, the terms of the Home EquiB~ Closing Handbook shall control :' 23.:.~NOTICE. Unles~ ot!~em~se reqmred by law, any not, ce sl!all be wen by dehvermg ~t or by mmhng it by first ~ass mail to tl~e .appropriate par~ s address on page ! of this SecuriW Instrument, or as shem :in Lender's records, or to any other address designated in writing. 24.: W~RS. Except to the extent prohibited by law, Mortgagor w~ves any right regarding tha marshalling of liens and assets, and hereby releasing and waiving ~1 hglas ~der and by vi~ue of the hOmeStead exemption laws of this state. 25.: OTHER TE~S. If checked, fl~e following ~e applicable to tiffs Sec~riW Instrument' ~ Line of Credit. The Secured Debt includes a revolving line 0f credit provision. Although ~e Secured Debt may be ' ' reduced to a zero balance, this Security Instrument will remain}in effe~ tmtil released. ~ Construction Loan. This SecuriW Instrument secures m~ obli[gation incurr~ for the construction of an imProve~nent on the Propers. ~ Fixture ~iling. Mo~gagor grants to Lender a seeuriW interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures relates to the ~roper~. This Securi~ Instrument suffices as a financing statemem m~d any carbon, photo~aphic or o~er reproduction maybe filed of record for pu¢oses of Article 9 of the Uniform Commercial Code. ~ 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 tliis SeCuritY Instrument on the date stated on Page 11 DAV D SCOTT JENKINS ~d/ Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date EQISOE (312001) ACKNOWLEDGMENT: -~ 6 8 (Individual) STATE OF The foregoing instrument was acknowledged before me by 0c~C~, ~ ¢ ~'~ this.: I ~ day of. ~c~ ' Wim~s] m~ Ina ~cial seal (Title of Officer) i ' - - ] ~u"y:of ~' State of k My Commission Expires :k~(4 s~ ~00~ I Lincoln" ~al) ~oming [ ACKNOWLEDGMENT: (Individual) STATE OF COUNTY OF The foregoing instrument was acknowledged before me bY , this day of Witness my hand and official seal (Signature .of officer) (Tit~o of Officer) (Seal) MS.' Commission Expires EQ150F (3/2001 AFFIDAVIT OF ONE AND THE SAME I, DAV D S JENKINS , hereby certify under penalty of perjury that: DAVID S JENKINS and DAVID SCOTT JENKINS are ~n~)~a tie same person. DAV D S JENK NS I~'~\ day Sworn and Sul~crjbcO before me this NoT/ky PUBLIC ,, EQO08 (10/2001)