HomeMy WebLinkAbout899082BoO .
89.9082
THIS MORTGAGE is rn~e this STH
DAVID
MORTGAGE I
;
RECEIV£D
LI~ICOL~',! OOUI*,ITy CLERK,
, 2004
LYlqN CLNV~RLEY AND F..ELSI B cLEVEBLEY, I{~SBA-N[D ARD WIrE
· be~veen ~e Mongagor.
W~LL$ .FAROO HOM~ HORTGA{aE, INC.
e~$t~g Und~ ~0.1aWs:of~' STATE OF ~IFO~IA '..
P.O. BOX 1030%, D~S MOILS, :IA' ~03060~0~
WHERE,, ~ower ~ ~deb~d to ~der in'the p~cip~ ~ 0¢ U.S. $
(herein "Borrower"), and the Mortgagee,
corporation organized and
, Whose address is
(herein "Lender").
500 · 00 , which
indebtedness ix evidenced by Borrower's note dated l~k.¥ 05, 2{~04.~ and extensions and renewals
thereof (heroin "Note"), providing for monthly installments of p~incipal and interest, with the balance of indebtedness, if not
sooner paid, duc and payabli~ on a131¢B 01, 2012 , i ;
TO SECURE to Lender the repayment of the indebtedness e~idence~l by the Note, with interest thereon; the payment of all
other sums, with interest thereon, advanced in accordance h~rewithi to protect the security Of this Mortgage; and file
perform. 8.n.c-e of the covenants and agree~ems of Borrower herein ~ontaiz~l, Borrower does hereby mortgage, grant and convey
to Lender, with'power of sale, the following described property lo.ted ia.. the County ofr,INeO/.~
State of Wyoming:
sxl:~l~sllfS~14~,~rll~ o~ S~CTXO~ i9, ~31N a~i~w oF ~z ~
LINcOr. N COUNTY, WYOMINa
· ' 01 a
1995 NASI~UA MOD~L #3t816 HUD ~I~RIAr. #IDA 1458 IDA 14~802
THIs II~ A PURC'~{ASE MONEY SECuiiITY INSTRUMENT.
which has the address of 1836 B3rg' 141 , AFTON ,
[S~r~et] [City]
Wyoming 83110 (herein "ProPerty Add,ess");'
TOGETHER with all the Improvements now or hereafter erected ont the property, and all ea~emenu, rights, appurtenances
and rents, all of which shall be deemed to be and remain a part of ~ property covered by this Mortgage; and all of the
foregoing, together with said property (or the leasehold estate if this Mdrtgage is on a leasehold) are hereinafter referred m as
the 'Property." .
Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right t°.mortgage, grant and
'convey the Property, and that the ProPerty is unencumbered, except fpr encumbrances of record. Borrower covenants that
Borrower warrants and will defend geuerally the title to the Property against all cla!m~ and demands, subject to encumbrances of
record. ;
UNIFORM COVENANTS. Borrower and Lender covenant and agr~ as follows:
l. Payment of Principal and Interest. Borrower shall promptly ~ay when due the principal and interest indebtedness
evidenced by the Note and late charges as provid~ in the Note.
2. Funds for Taxes and Inmramee, Subject to applic, able law o~ a written waiver by Lender, Borrower shall pay to
Lender on the day monthly payments of principal and interest are payabl~ under the Note· until the Note is paid in full, a sum
(herein ~l~tmds'') equal to one-twelfth of the yearly taxes and ~sm~sments (including condominium and planned unit
development assessments, if any) which may attain priority over this Mqrtgage and ground rents on the Property, if any, plus
one-twelfth of yearly premium installmenis for hazard insurance, plus on~-twelfth of yearly premium installments for mortgage
insurance, if any, all aS reasonably estimated initially and from time to ti~e by Lender on the basis of assessments and bills and
reasonable estimates thereof. Borrower ehall not be obligated to make ~ueh payments of Funds to L~nder to the extc~lt that
Borrower makes such payments to the holder of a prior mortgage or deed ~f trust if such holder is an institutional lender.
i
MORTGAGE · 1/80 - IqqMA/FHLMC UNIFORM INSTBU~/II~NT Form a851
lWYOMIN~ - SECOND ,
VMP MORTOAO£ l=ORM$ · t800}5~1'72~1 . I~ltlallt
If BOrrower pays Funds to Lender, ~e Funds shall be held in an ir~stitution the deposits or accounts of which a~e insured
or guaranteed by a federal or state agency (including ~nd~r If ~nder is such ~ ~timtion), ~d~ ~all ~ply ~e ~ds to
pa~ s~d t~, ~s~ss~ts, i~ur~ pr~u~ md ground rents. ~nder ~y not ch~ge f~r ~o holding <d ~ply~g
F~ds, ana!~g s~d ~unt.or veH~ing ~d ~mpil~g ~d ~s~,nts ~d b~l~, =l~s ~nd~r pays Bo~ower ~teest on
· e ~nds ~d appll~ble law ~ts ~nder to m~ such a ~ge. he.ewer <d ~nd~ may agr~ ~ writing ~ the tim~ of
cx~ution of ~ MoHgqe th~ M~rea; on ~e ~n~ sh~l ~ p~d to BoHower, ~d ~s such ~m<t is ~d~ or
~pli~le law r~quires ~uch interest to be p~d, ~ndcr ~1 not ~ requlr~ to pay he.ewer ~y int~t or ~ngs on
P~ds. Len~r s~l give to Bo~ow~r, without ~e. ~ ~nu~ ac~unting of ~e Fun~ show~g cr~u <d debi~
P=~ <d ~e pu~ose for Which e<h debit to ~e Funds w~ ~. %¢ Funds ~e pl~g~ ~ additio~ s<~i~ for ~e
s~u~d by ~is Mortgage.
If ~e ~o~ of ~e ~nds h~ld by ~nder, together wi~ the ~ s~n~ly install~nU of P=~ payable prior to ~e due
~tes of ~es, ~sess~nt~, ~sur~ce prc~u~ ~d ground mn~, ~1 exc~ ~e ~ount req~ed to pay s~d
~ss~ts. i~ur~ p~umg ~d ground renm as ~ey f~l due, such excess ~1 ~, ~ Bo~ow~r's option, ci~cr promptly
'rep~d to ~rrow~ or cr~it~ to Bo~ow~ on monthly instalments of ~ds. If the ~oum of ~e ~ds held by ~der sh~l
nor ~ sut'fieient m pay t~, ~g~s, ~ur~ pre~u~ ~d ~ound rgn~ ~ mey f~l One. Bo~ow~ sh~ pay to L~d~r
~Y ~t n~ss~ to ~e up ~e deficiency tn one or more paym~ ~ ~nder may require.
Upon pay~t la f~ll of ~11 su~ socked by this Mortg~, ~nder s~l pro~tly r~nd to Borrow~ ~y Fu~s beld by
~r, If ~der p~ag~ph 17 h~r~f ~'Pro~ Is sold or ~e ~o~n? is o~e~he ~quir~ by ~nd~, ~der shall ~ply,
~o la,er ~,~ im~diagely prior to ~es~e of ~ ~o~ny, or i~ acquisition by ~nder, ~ ~ds h~d by ~nd~ ar ~e ti~ of
applle~ion ~ ~ cr~it agmt ~ s~ s~ by this Mortgage.'
8. Application of Pa~. U~s appli~ble law provides o~erwise, all pa~n~ rmciv~ by ~nder under ~e
~d p~agr~hs 1 ~d 2 hermf sh~l he applied by ~nder *~st ~ paint of ~o~ts paY~le to '~der by he.ewer under
p~ag~h 2 hermf, ~ ~o iater~t payable on tho Note, ~d ~ea to ~ pr~cip~ of ~e Note.
4. ~ior 'Mo~gag~ ~d ~ et ~u~; Charges; Li~. Borrower sh~l ~o~ ~1 of ~nower's oblig~iom
~y mortgage, d~ of ~ or o~r sgufi~ agr~nt wi~ a li~n which h~ prlofl~y over ~s Mortgage, including ~ower's
~vea~ ~o ~ pa~enm wh~ du~, B°rrower sh~l pay or ~ to ~ paid all t~, ~s~ss~nrs ~d o~er chugs,
~ ~sl~om a~t~bumbl~ to ~e Property w~ch ~y at~ a priority over ~is Mortgage, ~d leopold pay~a or greed
r~nts, if ~y.
5, ~d ~. ~o~wer sh~l k~p ~e lmprov~n~ now exist~g or h~e~er cr~t~ on tho ~o~y ~urM
against loss by fir~, h~ ~lud~ wi~ the te~ "~xt~ndM coverage," ~d such o~or h~ds ~ ~der ~y r~uire ~d
such ~unts ~d for Su~ pefl~ ~ ~d~ ~y r~uire.
~e ~ ca.er providing ~e ~s~ shill ~ chosgn by he.ewer subj~t to approv~ by ~dor; provide,
such approv~ ~ not ~ ~nably wi~eld. All ~sur~ce policies ~d r~new~s ~er~f ~fll be ~ a fo~ ~p~le to
~nder ~d sh~l ~olude a st~dgd mortgage clause ~ favor of ~d ia a fo~ a~l~ to ~ndgr. ~nd~r ~ have ~c
to hold ~e ~lici~ ~d r~w~s ~er~f, subj~l to ~e ~ of ~y ~gage, de~ of ~t or other s~fitY a~nt wi~ a
li~ whl~ h~ p~ofity over ~s Me.gage.
h the ev~ of loss, ~nower sh~l giw pro~t notice to ~ insur~ c~igr ~d ~nder. ~ndet may m~e pr~f of loss
if not ~e prompfly by go.ewer.
If ~e ~o~y is ~don~ by Borrower, or if he.ewer f~s to re~ond to ~nd~ wi~n 30 days ~om th~ date noti~ is
~led by ~ndcr to he.ewer ~ th~ ~sur~c~ c~rier offers to sclc a cl~m for ~ce beneflu, ~nd~ is au~odz~ to
~ligt ~d apply ~ ~ur~ce process ~ ~nd~r's option either to r~oration or repot of ~e ~ope~ or to ~e ~
by ~ts Mortgage.
6. ~ation and Mflnienanc~ of ~ope~y; ~o1~; Condo~; H~ Unit Bev~apmen~. he.ewer
sh~l 'kgp ~ Pm~ ~ good r~air ~d sh~l not ~t waste or pe~t tmpal~ent or deterioration of ~c Prop~
S~l ~mply wi~ ~e pmvisiom of ~y, le~ if ~is Mortgage is on a l~hold. If ~is Mortgage is on a u~t ~ a ~ndo~fl~
or a pl~n~ ~t development, he'ewer ~1 ~ffo~ ~1 of Bo~ower's obligations ~der ~e d~l~gion or ~v~ts cr~t~g
or gove~ng ~e ~n~o~ or pl~ed ~t developer, ~ by-laws ~d r~latiom of ~c ~ndo~i~ or pl~ unit
&vglop~nt, ~d ~ti~ent
7. ~t~on of Lm~'s gee~tY. If B0~ower f~s to perform ~e ~ven~ts ~d a~ts ~n~ ~
M0~gage, or tf ~y gtion or prig is ~ene~ which materially affem ~nder's ~ter~t ~ ~e ~o~y, ~m
g ~d~'s option, upon notice to ~nowor, may ~ such ~~s, disb~e such su~, ~l~g r~nable auorneys'
f~s. ~d ~e s~h ~flon ~ ~ n~s~ to pmt~t ~nder~s inter.st. If ~nder requir~ ~ngage i~u~ce ~ a ~ndition of
~g ~c 1o~ sgur~ by ~ MoRgage, ~ower ~fll pay ~e pr~u~ r~quired to maint~ such ~ur~c~ in eff~t
such t~ ~ ~e re~ir~cnt for such i~r~co ~r~at~ in aecord~ce wire he.owl's ~d ~nd~'s ~1~ ag~t or
applicable law.
Any ~oun~ disbum~ by ~der p~su~t to ~is p~ag~ph 7, wi~ ~t~ ~ereon, at ~e Note roe. sh~l ~
~difionfl ~deb~e~ of Bo~ow~ s~ed by ~is Mortgage. Unless Bonower ~ ~ndcr agr~ to o~ t~ of pay~t,
such ~o~ts ~1 ~ pay~le u~n no~ ~om ~nder to Bo~w~r r~ues~g payment th~rmf. No~g ~n~ la
p~a~h 7 ~1 r,q~r~ ~ndg to inc~ ~y ex~e or ~e ~y action here~d~.
8. ~tian. ~nder ~y ~ or ~ to be ready r~o~bl~ en~ upon ~d i~ions of ~e ~o~y, provid~
· at ~er shill giw ~ower nott~ prior to ~y such ~pe~ion s~i~ing r~o~ble ea~e ~eretor rela~ to ~er's
~ter~t ~ ~e ~ope~y.
9..Cond~n.6~. ~c pr~s of ~y aw~ or cl~ for d~ges, direr or ~ns~umtial, ~ ~gtion wi~
~nd.~ion or other ~ng of ~e Prope~, or p~ ~t. or for conv~y~ ~ li~ of ~e~atlon, ~e hereby
~d shall be p~d to ~ad~, subj~ to thg te~ of ~y ~gagc, d~d of trust or o~er s~ufiW ap~nt wi~ a ii~ which
h~ priority owr ~ Mortgage.
10. ~rrowg Not Rfl~ Forb~ By L~dg Not a Waiver. Extension of t~ ~ f°r pay~t ar
of ~on~tlon of ~e ~u~ s~ur~ by ~is Mo~gag~ grated by ~nder to ~y gucc~sor ~ int~t of ~nower sh~l not
o~ra~ to ~le~e, ~ ~y ~.oer, ~e l~bili~ of ~e original he.ewer and ~rrower's ~ la Intent, ~ ~fll not
be r~U~ to ~~ prigs ag~ ~ sucee~ot or re~g to extend t~e for pay~nt or o&c~i~ ~i~
~.~on 0f tho s~s ~ur~ by this Mo~gagv by r~on of ~y de~d ~de by ~e ofig~ Bo~ow~ ~d ~ower's
s~m ~ ~gr~t. ~y for~ee by ~der in exacting ~y fight or r~m~y hemu~er, or othemlse ~ord~ by
applicable law, sh~ not be a w~v~ of or p~l~ ~e exercise of ~y such ~t or rely.
(~-76(WYI lee12~,ol
Pa~e 2 ,~ 4
11, Succes~or~ and Assigns BoUnd; Joint and Several Llabilityl Co-,signers, The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of LcndcT and Borrower,
subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any
Borrower who co-signs this Mortgage, b~t does not execute the Note. (a) is co-signing rids Mortgage only to mortgage, gran~
and convey that Borrower's interest in tho Properly to Lender under the terms of this Mortgage, (b) is not personally liable on
the Note or under this Mortgage, anc~ (c) agre~ 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 interco! in the Property.
12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower
provided for in th. is Morlgage shall b~ given by delivering it or by mailing such notice by certified mad addressed to Borrower
at the Property Address or al ~ch o~her 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 Leader may
designate by notice to Borrower as p~ovlded herein. Any notice provided for in this Mortgage shall be deemed to have been
given to Borrower or Lender when given in the manner designated herein.
13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall bo 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. la the event that any prov~siou or clause of tiffs 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 d~lar~l to be severable. As used herein, 'costs," "expenses" and
"attorneys' fees" include all sums to tho extent not prohibited by applicable law or limited 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.
lS. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations nnder any home rehabilitation,
improv~acnt, repair,, or other loan agr~ment which Borrower enters into with Lender. Leader, at Lender's option, may require
Borrower to ex.ute and deliver to Lender. in a Ibrm acceptable to Lender, an assignment of any rights, claims or del~ses
which Borrower may have against pax~ies who supply labor, materials or services in connection with impro;~ements made to the
Property.
16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it
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, a~ its option, require immediate payment ia full of all sums secured by this
Mortgage. However, ~ option shall not .be exercised by Lender it' exercise is prohibited by federal law as of the date of this
Mortgage.
If Lender exercises this option, .Lender shall give Borrower notice of acceleration. The notice sh~l provide a period of not
less than 30 days from thc date th~ 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 remedies permit~
by this Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
17. Acceleration; Remedies, Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage~ including the covenants to pay when due any sums secured by this Mortgage,
Leudex prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach;
(2) the action required to cure such breach; (3) a date, not less than 10 days from the date the notice is re_si!ed to
Borrower, by which such br~ach must be cured; and (4) that failure to cure such breach on or before the date specified in
the notice may result in acceleration of the sums seem'ed by this Mortgage. The notice shall further inform Borrower of
the right to reinstate alter acceleration and the right to brLng a court action to assert the nonexistence of a default or any
other defense of Borrower ~o acceleration and sale. ff the breach is not cured on or before the date specified in the notice,
Lender, at Lender's option, may declare aH 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 he entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph
17, including, but not limited to, reasonable attorneys' fees.
If Lender invokes the power of sale, Lender shah 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 12 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 shall be applied in the following order: (a) to all reasonable costs and expenses of the sale,
including, but not limited to, reasonable attorneys' fees and costs of title evidence; Co) to ail sums secured by this
Mortgagel and (e) the excess, if any, to the person or persons legally entitled thereto.
18. Borrower's Right to ReinsUre. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to
Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforc~ this Mortgage
discontinued at any tin~ prior to the earlier to occur of (i) the fifth day before sale of the Property pursuit to the power of sale
contained in this Mortgage or (ii) entry of a Judgment enforcing this Mortgage if: (a) Borrower pays Leader 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 agre~n~nts 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 Leader's remedies as
provided in paragraph 17 hereof, including, but not limited, to, reasonable attorneys' fcc. s; and (d) Borrower takes such action as
Lender may reasonably require to assure that the lien of this Mortgage, Lender's interest in the Property and Borrowex's
obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cur~ by Borrower, this
Mortgage and the obligations se. cured hereby shall remain ia full force and effect as if no acceleration had occurred.
19. Assignment of Rents; Appointment of Receiver; Leader 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 17
hereof or abandonment of the Property, have the right to col[ec~ and retain such rents as they become due and payable.
~'761W'Vj
P~,~ 3 of 4
Form 3851
osu o,s 4 8 3,
Upon scccla-ation under paragraph 17 hereof or abandonment of the Property, and at any tin~ prior to the c'xpirafion of
any p~riod of redemption following judicial sale, Lender, in person, by agent orby Judicially appointed receiver, shall be
entitled to enter upon, take possession of and manage the Property and to collect the ren£s of the Property including those past
due. All ren~s collected by Lender or the r~-c~iver shall tx: applied first to paymom of the costs of management of the Propcr~y
and collection of rent~, including, but not limited to, receiver's fees, premiums on receiver's bonds and t~asonable attorneys'
fees, and then to the sums secured by this Mortgage. Lender and the receiver shall be liable to account only for ~hose
actually received.
20. Re. lease. Upon paymcm of all sums s~cured by ~his Mortgage, I_,~nder shall release this Mortgage without charge to
Borrower. Borrower shall pay all costs~ o~ recordation, if any.
21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption In the Property.
REQUEST FOR NOTICE OF DEFAULT
'AND FORECLOSURE UNDER SUPERIOR.
MORTGAGES OR DEEDS OF TRUS'I'
Borrower and Lender r~lu~t the holder of any w.~rtgage, deed of trust or other encumbrance with a lien wkich ha~
priority over ~ Mortgage to give Notice to Le~der, at Leader's ad~s set forth on page one of this Mortgage, of any ~faalt
under the superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, BorroWer has ex~utod this Mortgage,
KELSI E eLL~rgRL~Y ~ -Borrower
(Se. al)
-Boffowcr
(Se~)
(Sign Odginal Only)
STATE OF WYOMING, County
The foregoing huRum~nt wan a~knowlMged before me this NAY OS, 2004
by DAVID LIqqN CLEVIlRLgY AND KELSI B CLEVERLEY, HUSBAND AND WIFE
No~/PuhlJe
8TAIE OF t
[Space ~low TI~ Line Reserved For Lendet aec[ RacoMer]
O~-76(WY) laal 21.ol e~o ,~ of ~
Form 3861