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HomeMy WebLinkAbout897851Recording requested by: Wells Fargo Bank N.A, Wells Fargo Home Equity 526 Chapel Hills Drive Colorado Springs, CO 80920 89737 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 RECEIVED LINCOLN COU~TY CLERK Oi~ FF.P, 19 ?i~ I,.: 5 [ JEAr, INE WAGt',,ER .L(.E~',~M 6 R E R. . State of Wyomh~g Space Above tiffs Line For Recording Date MORTGAGE 65023129481998 (With Future Advance Clause) DATE AND PARTIES. The date of this Deed of Trust ("Security Instruxnent") is -18 February 2004 and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: MARY J RUGWELL, AND DARRELL L RUGWELL, WiFE AND flUSBAND [--] 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 this 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 803 SAPPHIRE COURT (County) (Address) KEMMERER , Wyoming 83101- 0000 (City) (Zip Code) WYOMING - MASTER. FORM MORTGAGE Page Iol 8 LEWY1 102~ol VMP ~oara,,,6t ~o~s-,.oo,~,,-'-g, 20040337800169 o Together wifll 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"). MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at'any one time shall not exceed, $ 29,800. O0 This limitation of amount does not include interest and other fees and charges validly made pursum~t to this Security Instrument. Also, this limitation does not apply to advances made uuder the terms of tbis Security Instrument to protect 'Lender's security and to perform any of the covenants contained in this Security Instrument.' . 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 2/18/2004 together with all amendments, extensions, modifications or renewals. The maturity date of the Secured Debt is 2/20/2014 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 Instrument. 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 must be agreed to in a separate writing. 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 this Security Instrument. . 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. PRIOR SECLIILITY INTEILESTS. 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 complywith all covenants. B. To promptly deliver to Leuder any notices that Nlortgagor 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. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies 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. 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. : DUE ON SALE OR ENCIJMBRANCE. 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, declai-e 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 pro!fibited by law. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Nlortgagor will keep the Property in good condition and make all repairs that are reasonably necessary, lvlortgagor shall not comfit 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 fl~e 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 10210! - Page 2 o! O 20040337800169 174 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 inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall bi entirely for Lender's benefit and 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. tiffs Security Instrument, Lender may, without notice, perfom~ or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any ,'unounl necessary for performance. 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, inch, ding completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages ,and warrmlts 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 agree~nents 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. wiil promptly provide Lender with tree 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 the parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to ' third parties when Lender takes affin-native action prescribed by law, and that this assignment will remain in effect during any redemption period until the Secured Debt is satisfied. Mortgagor agrees tim( 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; CONDOMJ2',ffUMS; 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 under the Constituent .Documents. The "Constituent Documents" are the: (i) Declaration or any other document which creates the Condominium Projects or PUD and any homeowners association or equivalent entity ("Owners AssOciation"); (ii) by-laws; (iii) code of regulations; and (iv) other equiyalent 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 cariier, a "master" or "bh'mket" policy on the Condominium Project or PUD which is satisfactory to Lender and which provides insurance coverage in the an~ounts, for the periods, m~d 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 - MASTER FORM MORTGAGE LEWY3 102'10} Page 3 o! 8 20040337800169 provided by the Owner's Association policy. Mortgagor shall give Lender prompt notice of any lapse in required hazard insurance coverage. In the even~ of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to Property, whether to the nnit or to connnon elements, any proceeds payable to lvlortgagor are hereby assigned and shall be paid to Lender for application to the sums secured by this Security Instrument, witb 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. Coudemnation. 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 common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums 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 abandomnent 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 in the case of a taking by condenmation or eminent domain; (ii) any amendment to any provision 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 rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. G. Remedies. If Mortgagor does not pay condominium or PUD dues and assessments when due, then Lender may pay them. Any amonnts disbursed by Lender nnder this section shall become additional debt of Mortgagor secured by this Security Instrument. Unless Mortgagor and Lender agree to other temps 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 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 ~:onstitute an event of default. 14. 1LEMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide lvlortgagor with notice of' the rigbt 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 docmnents, including without limitation, the power to sell the Property. All remedies are distinct, cumulative 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 Lenkler. of any sum in payment or partial payment on the Secured Debt after tl~e balance is due or is accelerated or after foreclosure pi'oceedings.are filed shall not constitute a waiver of or WYOMING- MASTER FORM MORTGAGE LEWY4 Ioz~ol. P,~a ', o'" 200403371300169 544 Lender's right to require complete.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 demand any an~ount 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 ~o pay all costs and expenses incurred by Lender in collecting, enforcing or protectiug Leqders' rights and remedies under this Security Instrument. This amount ]nay 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. This Security Instrument shall remain in effect until released. Mortgagor agrees to pay for any recordation 'costs of such release. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Euvironmental 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 healtb, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, p'olJutant or contmaainm~t which has characteristics which render the substance dangerous or potentially dangerous to the public health,' safety, welfare or enviro~zrnent. The term includes, without limitation, any substances defined as "!~azardous 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 tile Property. This restriction does not apply to small quantities of Hazardons Substances that are generally recognized to be appropriate for the non'nal use and maintenance Of tile Property. B. Except as previously disclosed and acknowledged in writing 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 Environmental Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial · action in accordance with any Environmental Law. "D. Mortg/~gor shall immediately notify Lender in writing as soon., as Mortgagor has reason to believe there is any pendiug 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 domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's nan~e 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, 16. WYOMING - MASTER FORM .MORTGAGE LEWY5 102~o~ Pa9e 5 ol 8 20040337800169 18. INSURANCE. Mortgal 545 shall keep Property insured against loss by fire, flood, theft and other 20. FINANCIAL REPORT~ upon request, any finm Mortgagor agrees to sign consider necessaPy to.pt Instrument and Lender's i 21. JOINT AND IND1VI] BOUND. All duties und Security Instrument but Mortgagor's interest in agree to be personally between Lender and Mo bringing any action or rights may include, but that Lender and any part3 terms of this Security Ins~ will not release M. ortgagt Security Instrument shall hazards and risks reasom bly associated with the Property due to its type and location. This iasurance shall be maintained in e amounts and for the periods that Lender requires. The insurance carrier providing the insurance s roll be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld. Mortgagor fails to maintain the coverage described above, Lender may, at Lender's option, obtain >verage to protect Lender's rights in the Property according to the terms of this Security Instrument a. ll insurance policies and renewals shall be acceptable to Lender and shall immediately notify Lend~ r of cancellation or teruaination of the insurance. Lender shall bare the right to hold the policies and ~ .'newals. If Lender requires, Mortgagor shall inm'~ediately give to Lender all receipts of paid premiurr; and renewal notices. Upon loss, Mortgagor shall give inm~ediate notice to the insurance carrier anO Lender. Lender may make proof of loss if not made inm~ediately by Mortgagor. Unless otherwise agreed itt writing, all insurance proceeds shall be' applied to the restoration or repair of the Prop'erty or to the Secured Debt, whether or not then due, at Lender's option. Any application Iof proceeds to principal shall not extend or postpone the due date of the scheduled payment nor cltange the amount of any pay, ment. Any excess will be paid to the Mortgagor. If the Property is acqui{ed by Lender, Mortgagor s right to any insurance policies and proceeds resulting from damage roi the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediatelt before the acquisition.' 19. ESCROW. FOR TAXE~ AND INSURANCE. Unless otherwise provided m a separate agreement, Mortgagor will not be recruited to pay to Lender hinds for taxes and insurance in escrow. ; AND ADDITIONAL DOCUM;ENTS. Mortgagor will provide to Lender tcial siatement or information Lender ma), deem reasonably necessary. deliver, and file any additional documents or certifications that Lender may rfect, continue, and preserve Mortgagor's obligations under this Security en status on the Property. ~UAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS :r this Security Instrument are joint and individual. If Mortgagor signs this Joes not sign an evidence of debt, Mortgagor does so only to mortgage te Property to secure payment of the Secured Debt and Mortgagor does not able on the Secured Debt. If this Security Instrument secures a guaranty gagor, Mortgagor agrees to waive any rights that may prevent Lender from aim against Mortgagor or any party indebted under the obligation. These re not limited to, any anti-deficiency or. one-action laws. Mortgagor agrees to this Security Instrument may extend, modify or make any change in the rument or any evidence of debt without Mortgagor's consent. Such a change r from the terms of this Security Instrument. The duties and benefits of this. bind 'and benefit the successors and assigns of Mortgagor and Lender. 2,2. APPLICABLE LAW SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of [he jurisdiction in which the Property is located, except to the extent otherwtse required by the laws of the jurisdiction where the Property is located. This gecurity Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the 'variations by written agreement. If auy section of ibis Security Instrument c,'mnot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder 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 def'me the terms of this Security Instrument. Time is of the essence in this Security Instrument. In the event any section of this WYOMING - MASTER FORM MORTGAGE LEWY6 {o2m} Page 20040337800169 Security Instrument directly conflicts with any section of tile revolving line of credit agreement or pronfissory 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 promissory 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. 23. 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 Lend&r's records, or to .any other address designated in writing. 24. 5¥AIVERS. 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. 25. OTH~R TER2MS. 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 remain in effect until released. [-7-] Construction Loan. This Security Instrument sequres an obligation incurred for the construction of an improvement on the Property. ['--] Fixture Filing. Mortgagor grants to Lender a security interest m 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 covenants contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date Mortgagor Date WYOMING - MASTER FORM MORTGAGE LEWY7 {021o! Page 7 ol 8 20040337800169 179 ACIC2qOWLEDGMENT: (Individual) STATE OF WY COUNTY OF Li ncol ri The foregoing instrument was acknowledged before me by MARY 3 RUGWELL, DARRELL L RUGWELL Witness my hand and official seal. (Signature of Officer) My Commission Expires: WYOMING - MASTER FORM MORTGAGE LEWY8 ~o2~ol Pa0a 8 of 8 20040337800169 HOME ASSET MANAGEM_ENT ACCOUNT {SM} RIDER TO MORTGAGE/DEED OF TRUST ' (Open end credit with [--~qxed rate ~ variable rate This Home Asset Management Account {SM) Rider is dated to the Mortgage or Deed of Trust I"lvlortgage") of the same date MARY J RUGWELL, DARRELL L RUGWELL interest) 2/18/2004 and is an amendment given by the undersigned, (hereinafter "Mortgagor") to secure the borrower's EquityLine with FlexAbilitys~ Agreement with Wells Fargo Bank, N.A. ("Lender") coveting the property more pa~licularly described in tim Mortgage (the "Property"). In addition to the covenants and agi-eements 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 s~ Agreement and Home Asset Management Account s~ Addendum to EquityLine with FlexAbility s~, 2. Despite any language to the contrary in the Mortgage, Mortgagor covenants that the Property is qnencuxnbered, except fora first lien purchase money or ref'mance of purchase money encumbrance in the name of Wells Fargo Home MmXgage, Inc., its affiliates, successors or assignees. 3. Paragraph number 4 of the Mortgage, which is captioned SECURED DEBT AND FUTURE ADVANCES is hereby deleted in its enth'ety and replaced by. the following paragraph: SECURED DEBT AND FUTUILE 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 2/20/2014 B. All future advances from Lender to the borrower under snch evidence of debt, whether obligatory or discretionary. All obligatory future advances and advances to cure breeches of covenants coutained in the Mortgage are secured as if made on the date of this security Instrument. Nothh~g in this Security Instrument shall constitute ~t conuninnent to make additional or future loans or advances which exceed $ 29,800.00 Hamaridr 102703 20040337800169 PAGE I C. All sums advanced and expenses incnn'ed by Lender for insuring, preserving, or otherwise protecting the Property and its value and any othei' sums advanced and expenses incurred by Lender under the temps of this Sec[~rity Instntment. D. The terms and conditions of the Note referenced in A above include, bat are not limited to, a 10 year period for advances under a revolving line of credit. · Except if this Note is s~cured by property located in the state of Tem~essee, 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 Instrument shall constitute a comnfitment to extend the period for advances beyond the initial 10 year period. E. Bmxower(s) and the Lender have agreed that snbject to the satisfaction of certain qnalifying conditions, the Credit Line Limit in the Note may be increased quarterly and/or a~mually. One of those conditions, inter alia, is the b~rrower's maintenance of a first mortgage loan on the Prope~/y with Wells Fargo Home Mortgage, Inc., or one of its affiliates. (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 Virginia the "total principal indebtness" h~ the 3rd recital) and the current Credit Line Linfit described in Section 3 hereinabove in the same amount(s). 4. The Note provides for a monthly variable }ate of interest expressed as a daily periodic rate equal to 1/365 of an ammal rate of 1.875 plus the "Index Rate". The Daily Periodic Rate of FINANCE CHARGE miry 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 0.01605191 which cot-responds to an initial ANNUAL PERCENTAGE RATE of 5.875 The ANNUAL PERCENTAGE RATE will never be more than 18.00%. Any increase in Daily Periodic Rate may increase ' the minimum monthly payments. 5.The Paragraph which is captioned in the Mortgage, ESCROW FOR TAXES AND INS~CE (which · may be found as Paragraph 19, 20, 21, 23, 24, depending on the document) is hereby deleted in its entirety. · Date Date Date Date Date Date . Date 10270;3 20040337800169 PAGE 2 Exhibit "A" Lot 11 of Block 2 of the Lincoln Heights Subdivision to the Town of Kemmerer, Lincoln County, Wyoming as described on the official plat thereof Property Tax ID# 21161442622D00