HomeMy WebLinkAbout899632!i~'i? <i:~ ._j ~ji515 ( 02 )
REOF_IVED
LINCOLN COUNTY CLERK
TO:
NeB, CLS BRECKSVILLE
LOTS, LOCATOR 7120
CLEVELAND, OH 44101
State of Wyomh~g SI.ice Above Tiffs Lhle l?or Recordh lg Dala
MORTGAGE
(With Furore Advance Clause)
DATE AND PARTIES. Thc date of this Mortgage (Security Instrulucnt) is ...~.a..y..?..0.:...~..0..0..4 ....................... and the
parries, fl]eir addresses and tax ideutification numbers, if required, are as follows:
MORTGAGOR:
¥ORREST H NEUERBURG AND DELORES MARIE NEUERBURG ~)tdff
9 PINE ST, ALPINE, Wyoming, 83128
[] If checked, refer to file attaclied Addendum incorporated herein,
acknowledgments.
LENDER: NATIONAL CITY BANK
for additional Mortgagors,
their signatures and
CONVEYANCE. For good and vahlable consideration, the receipt aod sufficiency of which is acknowledged, and to secure
the Secured Debt (defined below) and Mortgagor's performance under this Security Instrument, Mortgagor l.,rants, bargaius,
conveys, mortgages and warrants to Lender, with power of sale, the lbllowing described property:
Lot 17, Rees Subdivision 'as shown by the official plat thereof recorded
September 1, 1955 in the Office of the Recorder of Lincoln County, Wyoming,
and being part of the North half of the Southeast quarter (N1/2SE1/4) of
Section 20, Touatship 37 North, Range 118 West of the Sixth Principal
Meridian.
The property is located in Lincoln at
(Coumy)
9 PINE ST ALPINE 83128
..................................................................................................................... Wyoming .......................
(Address) (City) (TIP Code)
Together with 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 fl~e 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 $ 80,000.00 This liufitation of atnount does uot include interest and other fees and
charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to adwmces made under the
terms of this Security Instrument to protect Lender's security and to pert'om] auy of rite covenants coutained itl this Security
lllstrument.
SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
A. Debt incurred under the terms of all promissory note(s), coutractfs), guaranty(s) or other evidence of debt described
below and all their extensions, renewals, modifications or'substitutions. (You ttlttst ay;ecifically identiJ? the debt(s)
secured and you should it;elude the final maturity date oJ'sttch debt(s).)
Maturity Date: 5/20/2024
WYOMING - HOME EQUITY LINE OF CREDIT MORTGAGE (NOT FOR FNMA. FHLMC. FHA OR VA USE]
~) 1994 B~nkers Systems, Inc., St. Cloud, MN Form OCP-REMTG WY 10/7/98
B. All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any proluissory
note, contract, guaranty, or other evidence of debt executed by Ivfurtgagor in favor of Lender executed after this Security
Instrmnent whether or not this Security Instnlment is specifically referenced. If more than one person signs fids Security
Instru~nent, each Mortgagor agrees that this Security Instrument will secure all future advances and future obligations
that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future
advances and other future obligations are secured by this Secnrity Iostrument even though all or part na,y not yet be
advanced. All. future advances aud other future obligations are seem'ed as if made on file date of this Security Instrument.
Noflfing ill this Security Instrument shall constitute a commitment to make additimml or future loans or advances iu any
amount. Any such cmmlfitment umst be agreed to in a separate writing.
C. All oilier obligations Mortgagolr owes to Lender, which nmy later arise, to the extent not prohibited by law, including,
but not limited to, liabilities for overdrafts relating tO any deposit account agreement between Mortgagor and Lender.
D. All additional stuns advanced &nd expenses incurred by Lender fi)r insuring, preserving or otherwise protecting the
Property and its value and auy :other stuns advanced and expenses incurred by Lender under the terms of this Secm-ity
Instruinent.
Itl file event that Lender fails to provide any necessary notice of the right of rescission with respect to any additional
indebtedness secured under paragraph B of this Section, Lender waives aoy subsequent security interest in the Mortgagor's
principal dwelling that is created by this Security Instrument (but does not waive the security interest for the debts referenced
m paragraph A of this Section0.
MORTGAGE COVENANTS~ Mortgagor agree§ that the covenants iu this sectiou are material obligations under fl~e Seem'ed
Debt and this Security Instrmnent. If Mortgagor breaches any covenaut in this section, Lender may refuse to make additional
extensions of credit and reduce the credit linfit. By not exercising eifl~cr remedy on lvfurtgagor's breach, Lender does not waive
Lender's rigl'tt to later consider the event a breach if it llappens again.
Payments. Mortgagor agrees that all.payments under the Secm'cd Debt will be paid when due and in accordance with file terms
of the Secured Debt and this Security Instrument.
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 encmnbrance on file Property, Mortgagor agrees to nnike all payments when due and to
perfurm or comply with all covelmnts. Mortgagor also agrees not to allow any modification or extensiou of, nor to request auy
furore advances nnder any note or agreement secured by the lien doculueut without Lender's prior written approval.
Claims Against Title. Mortgagor will pay all taxesl assessments, liens, encumbrances, lease payments, grouod rents, utilities,
and other charges relating to die Property when due. Lender nmy require Mortgagor to provide to Lender copies of' all notices
that such amounts are due and the receipts evidenciug Mortgagor's payment. Mortgagor will defend title to the Property
against any claims that would impair the lien of this Secm-ity hJstrument, lvlortgagor agrees to assign to Lender, as requested
by Lender, any rights, claims or defenses Mortgagor nmy have against parties who supply labor or materials to nufintaiu or
improve file Property.
Property Condition, Alterations anti Inspection. Mortgagor will keep the Property in good condition and make all repairs
that are reasonably necessary. Mortg'4gor shall not commit or allow any waste, impairment, or deterioration of the Property.
Mortgagor agrees that file nature of the occupancy and use will not substautially change wifl'mut Lender's prior written
consent. Mortgagor will not permit any change in any license, restrictive covenant or easemeut wiflmut Lender's prior written
consent. Mortgagor will notify Lender of all deumnds, proceedings, claims and actious against Mortgagor, and of any loss or
danmge to file Property.
Lender or Lender's agents nmy, at Lender's option, enter file Property at aay reasonable time for the pm-pose of inspecting the
Property. Lender shall give Mortgagor notice at the time of or bcfurc an iuspection specifying a reasonable purpose fur the
inspection. Ally inspection of the Property shall be entirely lbr LcndcFs benefit and /Vlortgagor will ill nO way rely on
Lender's inspection.
Authority to Perform. If Mortgago~ thils to perlbrm any duty or any of the coveuants contained ill this Security htstrnment,
Lender may, without notice, pertbrm or cause them to be pertbrmed. Mortgagor appoints Lender as attorney in lhct to sign
Mortgagor's name or pay any amount necessary for performance. Lender's right to peril)tm tbr Mortgagor shall not create au
obligation to perform, and Lender's l:ailure to pertbrm will not prech,de Lender fi'om exercising any of Lender's other rights
under file law or fids Security Instrmnent.
Leaseliolds; Condominimns; Planned Unit Developments. Mortgagor agrees to comply with file provisions of any lease if
this Security Instrument is on a leasehold. If the Property includes a unit in a condonliniuul or a planned uuit developmeut,
Mortgagor will perform all of Mortgagor's duties under the cove~mnts, by-laws, or regulations of the coodomitfimu or plmmcd
milt development.
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 flu'ough condemnation, eminent domain, or any other means. Mortgagor authorizes
Lender to intervene in Mortgagor's ~mme ill any of the above described actions or claims. Mortgagor assigns to Lender the
proceeds of ally award or claim for damages connected with a condem~mtiou or other taking of all or any part of the Property.
Such proceeds shall be considered payments and will be applied as provided ill this Security Instrmnent. This assignment of
proceeds is subject to the terms of any prior' mortgage, deed of trust, security agreement or other lien docmnent.
Insurance. Mortgagor shall keep_Property insured against loss by fire, flood, theft and other hazards and risks reasmmbly
associated with the Property due to its type and location. Tiffs insurance shall be nmiutained iu the amounts and tbr the periods
that Lender requires. The iusurance carrier providing the insurauce shall be chosen by Mortgagor subject to Lender's approval,
which shall not be unreasonably withheld. If Mortgagor tails to maintain fl~e coverage described above, Lender may, ,,t
Lender's option, obtain coverage to protect Lender's rights in the Property according to file terms of this Security h~strument.
All insurance policies and renewals s!~all be acceptable to Lender'and shall include a standard "mortgage clause" and, where
applicable, "loss payee clause." Mortgagor shall iimnediately notify Lender of cancellation or termination of the insurance.
Lender shall have the right to hold file policies and renewals. If Lender requires, Mortgagor shall i~mnediately give to Lender
all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give innnediate notice to the insurance carrier
'and Lender. Lender may nmke proof of loss if not made immediately by lVlortgagor.
U~dess otherwise agreed in writing, all insurance proceeds shall be applied 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 file due date of Ore scheduled payment nor change the amount of any payment. Any
excess will be paid to file Mortgagor. It' the Property is acquired by Lender, Mortgagor's right to any insurance policies and
proceeds resulting fi'om damage to the Property betbre rte acqrusition shall pass to Lender to rite exteut of file Secured Debt
nmnediately before rte acquisition.
Financial Reports and Additional Docmnents. Mortgagor will provide to Lender upon l'equ~,~, al!~7 fi~lonciil{ statement or
iuforumtion Lender may deem reasonably necessary. Mortgagor agrees to sign,.deli~¢*m~d~l~?iii~"r(~ai~[i0t~d ~locu,nents O1'
~ertificat?ns that Lender n~y congider necessary to pert~ct, contiime',,.and~tptes6i~dE~6~;¥,s';b~'[~h'tio~s under this
becurity Instrument and Lender's lien status on the Property 'i '~ 5~uc '}0 ~: ":;'~ t¢,'''~'~':%'~ ~
D~ ON SALE. Lender ~my, at its option, declare me entire balance ~f th¢.S¢~5~d ~bF]m ~be?lmlhbdi'Sidl~ 9u0~ and payable
~pon the creation of, or contract for the creation of, a transfer or sale q~ ~:])?g.~er~k~hi's~gbt..is~-ShfijE6[ ~ fi~e restrictions
nnposed by t~deral law (12 C.F.R: 591), as applicable.
7. DEFAULT. Mortgagor will be in default if any of the following occur:
Fraud. Any Consumer Borrower engages in fraud or nnlterial nfisrepr~sentati0u iu connection wifll the Secured Debt that is an
open end home equity plan.
Payments. Any Consmner Borrower on any Secured Debt riot is an open end lmme equity plan fails to make a payment when
due.
Property. Any action or i~mction by the Borrower or Mortgagor occurs fllat adversely affects rite Property or Lender's rigltts in
file Property. This includes, but is not limited to, rite following: (a) Mortgagor thils to maintain required rosin'anco on the
Property; (b) Mortgagor transfers the Property; (c) Mortgagor coutnut$ waste or otherwise destructively uses or hils to
maintain fl~e Property such that file action Or imtction adversely affects Lender's security; (d) Mortgagor fails to pay taxes.on
the Property or otherwise fails to act and thereby dhuses a lien to be filed against'the Property that is'senior to the lien of fitis
Security Instlmnent; (e) a sole Mortgagor dies; (t) if more thau one Mortgagor, any Mortgagor dies and Lender's security is
adversely affected; (g) the Property is taken through eminent doumin; (h) a judgment is filed against Mortgagor and subjects
Mortgagor and rite Property to action that adversely affects Lender's interest; or (i) a prior lienholder forecloses on the
Property and as a result, Lender's interest is adversely affected.
Executive Officers, Any Borrower is an .executive officer of Lender or an affiliate and such Borrower becomes indebted to
Lender or another lender in an aggregate anmunt greater than rite amount permitted under federal laws and regulations.
8. REMEDIES ON DEFAULT. In addition tO any other remedy awdlable under rite terms of this Security htstrument, Lender
may accelerate rite Secured Debt and foreclose this Security Instrument iu a numner provided by law if lVlortgagor is in default.
In some instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure, or oilier
notices and may establish time schedules for foreclosure actions.
At rite option of the Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become
immediately due and payable, after giving notice ff required by law, upon file occurrence of a dethult or anytime fllereaflcr.
Lender shall be entitled to, without limitation, rite power to sell rite Property.
The acceptance by Lender of any ~ium in payment or partial payment on fire Secured Debt after file balauce 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 delhult. By not exercising any remedy on Mortgagor's defimlt, Lender does not waive Lender's right to later
consider the event a default if it happens again.
9. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Mortgagor breaches any
covenant in this Security Insmnnent, Mortgagor agrees to pay all expenses Lender incui's ill performing such covenants or
protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred /bt inspecting,
preserving, or ofl~erwise protecting rite Property and Lender's security interest. These expenses are payable on demand and will
bear interest frmn fire date of payment until paid in full at the highest rate of interest in effect as provided in the terms of
Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender ill collecting, enforcing or protecting
Lender's rights aud remedies under tltis Security Instrument. This amouut nmy include, but is not limited to, reasomible
attorneys' fees, court costs, and oilier legal expenses. This anmunt does not include attorneys' fees for a salaried employee of
the Lender. To file extent permitted by the Ulfited States Bankruptcy Code, Mortgagor agrees to pay rite reasonable attorneys'
tees Lender incurs to collect file Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code.
This Security Instrmnent shall rmmdn in effect until released. Mortgagor agrees to pay for any recordation costs of such
release.
10. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means,
wifllOUt limitation, the Comprehensive Environmental Response, Compensatim~ and Liability Act (CERCLA, 42 U.S.C. 960l
et seq.), and all other federal, state and local laws, regulations, ordinances, court m:ders, attorney general opinions or
interpretive letters concenfing the public health, Safety, welfare, enviromnent or a hazardous substance; and (2) Hazardous
Substance means any toxic, radioactive or hazardous ~mtterial, 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, wifltout linfitation, any substances defined as "hazardous lnaterial," "toxic substances," "hazardous waste" or
"hazardous substance" under any Environmental Law.
Mortgagor represents, warrants and agrees that .
'A. Except as Previously 'dL4cl.0sed and acknowledged itl writing to Lender, n0' Hazai'dous Substa/ice is or will be located,
stored or released on or in the Property. Tiffs restriction does not apply to small quantities of Hazardous Substances fltat
are generally recoglfized to be appropriate for the normal use and maintenance of the Property.
B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor aud every tenant have been, are, and
shall remain in full compliance wiflt any applicable Envirmnnental Law.
C. Mortgagor shall i~mnediately 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 Envkmnncntal Law concenfing the Property. In such au event,
Mortgagor shall take all necessary remedial action in accordance wiflt ally Enviromnental Law.
D. Mortgagor shall inmtediately notify Lender in writing as soon as lVlortgagor has reason to believe there is any peuding or
threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or
the violation of any Enviromndntal Law.
(~)1@94 Bankers Systems, Inc., St. Cloud, MN Fo~m :)CP-REMTG-WY 10/7/98
4)
11.
ESCROW FOR TAXES AND INSURANCE. Uxfless otherwise provided in a separate agreemeut, Mortgagor will not be
required to pay to Lender funds for taxes and insurance in escrow.
12. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under fids
Security Instrument are joint and individual. If Mortgagm' signs this Security hlstrument but does not sign an evidence of debt,
Mortgagor does so tuffy to mortgage Mortgagor's interest in the Property to secure payment of fl~e Secured Debt and
Mortgagor does not agree to be persomdly liable on the Secured Debt. If this Security Instrument secures a guaranty between
Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender fi'om bringing any action or claim
against Mortgagor or any party indebted under the obligation. These fights may include, but are uot liufited to, any
anti-deficiency or one-actim~ laws. The duties and benefits of this Security Instrument shall bind and benefit tile successors and
assigns of Mortgagor and Leuder.
13. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fidly integrated. This Security lnstrumem
nmy not be alnended ox' modified by oral agreement. Any section in fills Security Instrmnent, attactm:ents, ox- any agreemeut
related to fl~e Secured Debt that conflicts with applicable law will uot be effective, unless flint law expressly or impliedly
permits the variations by written agreemeut. If any section of this Sccmity Instrmnent cannot be entbrced accordiug to its
terms, that section will be severed and will not affect the euforceability of the reuminder of this Security lnsmm~ent. Wheuever
used, the siugular shall include the p~ural and file plural the singular. The captions and headings of the sections of this Security
Instrument are tbr convenience only and are not to be used to interpret Ox' define tl~e terms of this Security lnstmnmm Time is
of file essence in this Security Insmmlent.
14. NOTICE. Ulfless 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 ou p,'~ge 1 of this Security lnstrmneut, or to any oflter address designated in writing. Notice to
one mortgagor will be deemed to be uofice to all mortgagors.
15. WA. IYERS. Except to the extent prohibited by law, Mortgagor waives ally right regarding file nmrshalling of lieus aud assets
and all homestead exemption rights relating to file Property.
16. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Althougb the Secured Debt may be reduced to a
zero balance, this Security Insmmma will remain in effect until released.
17. APPLICABLE LAW. This Security Instrmnent is governed by fl~e laws as agreed to iii tim Secured Debt, except to the extent
required by the laws of file jurisdiction where file Property is located, and applicable federal laws and regulations.
18. RIDERS. The covenants and agreements of each of the riders clrecked below are incorporated into and supplement and amend
the terms of fids Security Instrument.
[Check all applicable boxes]
[] Assignment of Leases and Rents [] Other .............................................................................................. .
19. [] ADDITIONAL TERMS.
Prepared by:
NICOLE READENCE, National City Bank
6750 Miller Road, Brecksville, OH 44141
SIGNATURES: By sigifiug below, Mortgagor agrees to the terms and coveuants contained iu this Security hlstrument and ill any
attachments. Mortgagor also ackuowledges receipt of a copy of this Security Instrument on file date stated on page 1.
,-, .........7
A CICNOWLED GMENT:
(Individttal)
STATE OF ......... .W..Y.O..M..I..N..~ ........................ COUNTY OF ............... .T.~.T..O.~ ......................... } ss.
........................ ~.a.y.. ..2.9.9.4. ...................
Tiffs instrument was acknowledged before me this 20th day of .............
by ....... .P..o..r..r.e..s..t....H......bl..e.u..e. ,r. b.u.r.g...a..n.d.., p ¢. l_.o.r..e. ~...bi..~ r. 1.¢.. ~¢.u.¢.r hurg ...............................................
MycouunissionexpireS:(s~,) 9-15-07 ........ ~~ ..~.... ~
(Notary Pu bli~V
1994 Bankers S',,stetns, Inc., SI. Cloud, MN Form OCP-BEMTG-WY 10/7/98