HomeMy WebLinkAbout899861AFTER RECORDING MAIL TO:
ROCK SPRINGS NATIONAL BANK
333 BROADWAY PO BOX 880
ROCK SPRINGS, WY 82902-0880
,~is document is being reCordel[
~y Southwest Title Company
as a com'tesy only.
BRANDT II
STATE OF WYOMING
RECEIVED
LINCOLN COUNTY CLERK
899861
--3 PH 3: SS
[Space Above This Line For Recording Data]
Loan Number:
51544
WCDA DOWN PAYMENT LOAN MORTGAGE
This Mortgage ("Security Instrume,nt") is given on J u ~ e I , 2 0 0 4 The Mortgagor is
ANTHONY BUCK BRANDT ~ nd JENNIFER E BRANDT HUSBAND AND WIFE
whoseaddressis536 WEST 6TH AVENUE PO BOX 62,,ABARGE.WY 83123-0062
BANK ("Borrower"). This Security Instrument is given to ROCK SPRINGS NAT tONAL
which is organized and e>iisting underthe laws ofT H E u N I f E D S T A f E S 0 F A M E R I C A
and whose address is 3 3 3 E, ROADWAY PO BOX 880, ROCK SPRINGS, WY 82902-0880
("Lender"). Borrower owes Lend er the principal sum of
Three Thousand Five Hundred Dollars and no/ 100
Dollars ($ 3 . 500 . 00 ). This debt is evidenced by Borrower's
note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt,
if not paid earlier, due and payable o~r~ 3 U n e 1 , 2 0 I 2 This Security Instrument secures to Lender: (a)
the repayment of the debt evidenced .'by the Note, with interest, and ail renewals, extensions and modifications; (b) the
payment of all other sums, with in'":erest, advanced under Paragraph 6 to protect the security of this Security
Instrument; and (c) the performance :,f Borrower's covenants and agreements under this Security Instrument and the
Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the following
described property located in L I N C 0 L N County, Wyoming:
LOTS 29, 30. 31 AND 32 CF BLOCK 19 OF FIRST ADDITION 10 THE TOWN OF
LABARGE , FORMERLY TULSA, LINCOLN 'COUN fY WYOMING AS DESCRIBED ON THE
OF F ICI AL PLAT fltEREOF .
which has the address of 536 WiST 6TH AVENUE PO BOX 62 LABARGE
[Street] [City]
Wyoming 8 3 1 2 3 - 0 0 6 2 ("Property Address");
[Zip Code]
TOGETHER WITH all the impro~/~ments now or hereafter erected on the property, and all easements, rights,
appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of
the foregoing is referred to in .this Security Instrument as the "Property."
BORROWER COVENANTS that ~Borrower is lawfully seized of the estate hereby conveyed and has the right to
mortgage, grant and convey the Prol:erty and that the Property is unencumbered, except for encumbrances of record.
Borrower warrants and will defend ganerally the title to the Property against all claims and demands, subject to any
encumbrances of record
WCDA DOWN PAYMENT LOAN MORTGAGE
MPP-219 (.~ ,.-~.~,~
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1. Payment of Principal, Interes,l a, nd Late Charge. Borrower shall pay when due the principal of, and interest
on, the debt evidenced by the Note, d~f~ult interest, if applicable, and late charges due under the Note.
2. Payments of Taxes, Insurance and Other Charges. Borrower shall make timely payment of any (a) taxes
and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the
'Property, and (c) premiums for insur3nce required by Paragraph 4. The Borrower shall furnish proof of payment to
Lender upon request by the Lender.
3. Application of Payments. All 3~yments under Paragraphs 1 and 2 shall be applied by Lender as follows:
FIRST, to interest due under the
SECOND, to amortization of the I~,ri.ncipai of the Note;
THIRD, to late charges due under: the Note.
· 4. Fire, Flood and Other Hazari~ Insurance. Borrower shall insure all improvements on the Property, whether
now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which
Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires.
Borrower shall also insure all imprOlvements on the Property, whether now in existence or subsequently erected,
against loss by floods to the extent required by the Lender. All insurance shall be carried with companies approved by
Lender. The insurance policies and' any renewals shall include loss payable clauses in favor of, and in a form
acceptable to, Lender. Borrower sha~l furnish a copy of the policy or policies of insurance to the Lender upon request
by the Lender. ·
In the event of loss, Borrower shail give Lender immediate notice by mail. Lender ~ay make proof of loss if not
made promptly by Borrower. Each in~;u~'ance company concerned is hereby authorized and directed to make payment
for such loss directly to Lender, inste]c__: of to Borrower and to Lender jointly. All or any part of the insurance proceeds
may be applied by Lender, at its option; either (a) to the reduction of the indebtedness under the Note and this Security
Instrument, first to any delinquent amoL~jnts applied in the order in Paragraph 3, and then to prepayment of principal, or
(b) to the restoration or repair of the'damaged property. Any application of the proceeds to the principal shall not
extend or postpone the due date of the monthly payments which are referred to in Paragraph 2, or change the amount
of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under
the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the
indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty
days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
residence for at least one year after th9 date of occupancy, unless the Lender determines this requirement will cause
undue hardship for Borrower, or L:nless extenuating circumstances exist which are beyond Borrower's cOntrol.
Borrower shall notify Lenders of any extenuating circumstances. Borrower shall not commit waste or destroy, damage
or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender
may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable
action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower,
during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to
provide Lender with any material information) in connection with the loan evidenced by 'the Note, including, but not
limited to, representations concernir, g Borrower's occupancy of the Property as a principal residence. If this Security
Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the
Property, the leasehold and fee title ~h~ll not be merged unless Lender agrees to the merger in writing.
6. Charges to Borrower and ~rotection of Lender's Rights in the Property. Borrower shall pay all
governmental or municipal charges,, fines and impositions that are not included in Paragraph 2. Borrower shall pay
these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing
these payments.
If Borrower fails to make these payments or the payments required by Paragraph 2, or fails to perform any other
covenants and agreements contained in this Security nstrument, or there is a legal proceeding that may significantly
affect Lender's rights in the Propert, y (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
rights in the Property, including payr~ent of taxes, hazard insurance and other items mentioned in Paragraph 2.
Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be
secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate,
or the default interest rate, and at th~, option of the Lender, shall be immediately due and payable.
7. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation or other taking o' any part of the Property, or for conveyance in place of condemnation, are hereby
assigned and shall be paid to Lende~ to the extent of the full amount of the indebtedness that remains unpaid under the
Note and this Security Instrument. Le~der shall apply such proceeds to the reduction of the indebtedness under the
Note and this Security Instrument, first to any delinquent amounts applied in the order provided in Paragraph 3, and
then to prepayment of principal. An!~ application of the proceeds to the principal shall not extend or postpone the due
date of the monthly payments, which are referred to in Paragraph 2, or change the amount of such payments. Any
excess proceeds over an amount :.required to pay all outstanding indebtedness under the Note and this Security
Instrument shall be paid to the entity 16gaily entitled thereto.
WCDA DOWN PAYMENT LOAN MORTGAGE
MPP-219 (01/94)
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8. Grounds for Acceleration of D,&bt. "
(a) Default. Lender may require:iknmediate payment in full of all sums secured by this Security Instrument if:
(i) Borrower defaults by fa:iling to pay in full any monthly payment required by this Security Instrument prior
to Or on the due date of thd next monthly payment, or
(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this
Security Instrument.. !.
(b) Sale Without Credit Approvat~ Lender shall, if permitted by appl cable law, require immediate payment in full
of all the sums secured by this Sec;urity Instrument if:
(i) All or part of the PropeCty, or a beneficial interest in a trust owning all or part of the Property, is sold or
otherwise transferred (other- than by devise or descent) by the Borrower, and
(ii) The Property is not o~"cupied by the purchaSer or grantee as his or her principal residence, or the
purchaser or grantee doits so occupy the Property but his or her credit has not been approved in
accordance with the requirements of the Secretary.
(c) Default Interest; If Lender haS not received the full monthly payment required by the Security Instrument by
the end of the thirty calendar days:after the payment is due, Lender may increase the interest rate as described in
Paragraph 2 of the Note to twelve percent (12%). Lender may choose not to exercise this option without waiving its
right in the event of any subsequeht default.
(d) No Waiver. If circumstances" Occur that would permit Lender to require immediate payment in full, but Lender
does not require such payments, 1.',ender does not waive its rights with respect to subsequent events.
9. Reinstatement. Borrower i-as a right to be reinstated if Lender has required immediate payment in full
because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even
after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum
all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower
under this Security Instrument, foreclo'~ure costs and reasonable and customary attorneys' fees and expenses properly
associated with the foreclosure pro~aeding. Upon reinstatement by Borrower, this Security Instrument and the
obligations that it secures shall rema'.i~ in effect as if Lender had not required immediate payment in full. However,
Lender is not required to permit reim'~atement if: (i) Lender has accepted reinstatement after the commencement of
foreclosure proceedings within two '.years immediately preceding the commencement of a current foreclosure
proceeding, (ii) reinstatement will pr~.,clude foreclosure on different grounds in the future, or (iii) reinstatement will
adversely affect the priority of the lien C.reated by this Security Instrument.
10. Borrower Not Released; Forbearance by Lender Not s Waiver. Extension of the time of payment or
modification of amortization of the su!~s secured by this Security Instrument granted by Lender to any successor in
interest of Borrower shall not operate to.release the liability of the original Borrower or Borrower's successor in interest.
Lender shall not be required to comm~,nce proceedings against any successor in interest or refuse to extend time for
payment or' otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand
made by the original Borrower Or BorrOwer's successors in interest. Any forbearance by Lender in exercising any right
or remedy shall not be a waiver of or praclude the exercise of any right or remedy.
11. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements
of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the
provisions of Paragraph 8.b. Borrow~J~'s covenants and agreements shall be joint and several. Any Borrower who
co-signs this Security Instrument but ¢Joes not execUte the Note: (a) is co-signing this Security Instrument only to
mortgage, grant and convey that Borrt~wer's interest in the Property under the terms of this Security Instrument; (b) is
not personally obligated to pay the surr,~s secured by this Security Instrument; and (c) agrees that Lender and any other
Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security
Instrument or the Note without that Bori-ower's consent.
12. Notices. Any notice to Borrower provided for in this Security InstrUment shall be given by delivering it or by
mailing .it by first class mail unless apOlicable law requires use of another method. The notice shall be directed to the
Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given
by first class mail to Lender's address, stated herein or any address Lender designates by notice to Borrower. Any
notice provided for in this Security Ins~r. ument shall be deemed to have been given to Borrower or Lender when given
as provided in this paragraph. :
13. Governing Law; Severability:: This Security InStrument shall be governed by Federal law and the law of the
jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
Note conflicts with applicable law; such conflict shall not affect other provisions of this Security Instrument or the Note
which can be given effect without the Conflicting provision. To this end the provisions of this Security Instrument and
the Note are declared to be severable.·
14. Borrower's CopY. Borrower'Shall be given one conformed copy of this Security Instrument.
15. Assignment of Rents. Borrc!Wer unconditionally assigns and transfers to Lender'all the rents and revenues of
the Property. Borrower authorizes Lend.er Or Lender's agents to collect the rents and revenues and hereby directs each
tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of
Borrower's breach of any covenant or 'agreement in the Security Instrument, Borrower shall collect and receive all rents
and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an
· absolute assignment and not an assignment for additional security only.
If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee
.for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to
collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and
unpaid to Lender or Lender's agent on Lender's written demand to the tenant.
Borrower has not executed any p,"ibr assignment of the rents and has not and will not perform any act that would
prevent Lender from exercising its righ'~& under this Paragraph 15.
Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of
breach to Borrower. However, Lender bra judicially appointed receiver may do so at any time there is a breach. Any
application of rents shall not cure cr':waive any default or invalidate any other right or remedy of Lender. This
assignment of rents of the Property sh'all terminate when the debt secured by the Security Instrument is paid in full.
The Lender or a judicially appointed receiver shall not be required to post any bond or other security to enter upon,
take control of or maintain the property,:
WCDA DOWN PAYMENT LOAN MORTGAGE
BRAN'DT 1! ~ ~.,~ '~ ~ ~ ~ ~-~ ~/L ~[~~ i~
{ ,~<: , ~,-.. LOAN NO. 5 ! 5 4 4
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: ..
16. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 8, Lender may invoke
the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses
incurred in pursuing the remedies provided in this Paragraph 16, including, but not limited to, reasonable attorneys'
fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall 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 give notice of the sale to
Borrower in the manner provided in Paragraph 12. Lender shall publish notice of sale, and the Property shall be sold in
the manner prescribed by applicable law. ' Lender or its designee may purchase the Property at any sale. The proceeds
of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to,
reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
persons legally entitled to it.
17. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instru merit without charge to Borrower. Borrower shall pay any recordation costs.
18. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of
curtesy and dower in the Property.
Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with
this Security Instrument, the covenant.~ cf each such rider shall be .incorporated into and shall amend and supplement
the covenants and agreements of this ,%ecurity Instrument as if the rider(s) were in a part of this Security-Instrument.
[Check applicable box(es)]
r-~ Condominium Rider [] Graduated Payment Rider [] Growing Equity Rider
[] Planned Unit Development Rider r--I Other [Specify] F--] Other [Specify]
BY SIGNING BELOW. Borrower accepts and agrees to the terms contained in pages 1 through 4 of this Security
Instrument and in any rider(s) executed by Borrower and recorded with it.
Witnesses:
A N-~H.~ Oc~.B"U C K B R A N O T ua.owe,
~/~"~ ~ ~~ ..(Seal,
J/ N N I ~R 'E BRA NOT mo.owe,
Seal)
OHOWe!
.(Seal)
t~offower
STATE OF WYOMING, L I N C 0 L N
The foregoing instrument was acknOwledged before me this
by AN'[HONY BUCK BRAND] aha JENNIFER E
My Commission expires: [0/0z/ ~7
Countyss:
]st day of June, 2004
8RANDT , HUSBAND AND WIFE
Notar~Public R E B E CCA L . M~R R !
~ NOTARY ~. PUBLIC
COUNIY OF ~,,.,,,.~.?~; '-r:'.?E OI
WCDA DOWN PAYMENT LOAN MiORTGAGE
MPP-219 (01/94)
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