HomeMy WebLinkAbout90008230661
961303 - 'LINCOI N COUNTY CLERK
· ' ' ' ,.I ~'~ ~f, · '
~ IF BOX IS CHECKED,~IOl~(~Rt2'GAGESECURES{~.J.I:URJ~;AI),~t~,NSkS.
TItlS MORTGAGE is made this 8TH day of .JUNE ,JF_ANNf~ ,t,~,~ o~,
v20, gt4 t [ Et , between the Mortgagor,
RANDALL S. WILLIAMS AND DENISE T. W LLIAMS HUSBAND A~D'W~lP£i"-AS' IENANTS BY
ENT I RE f I ES
(herein "Borrower"), and Mortgagee HOUSEHOLD FINANCE CORPORATION I I
a corporation organized and existing under the laws of
330 WOOD DALE RD, WOOD DALE, IL OO1111
(herein "Lender" ).
DELAWARE
whose address is
The following paragraph preceded by a checked box is applicable.
[~ WItEREAS, B,orrower is indebted to Lender in the principal sum of $ 215. -/88. -/9 ,
evidenced by Borrower s Loan Agreement dated JUNE 8~ 2004 and any extensions or renewals thereof
{including those pursuant to any Renegotiable Rate Agreement) (herein "Note"), providing for monthly installments of
principal and interest, including any adjustments to the amount DE payments or the contract rate if that rate is variable,
with the balance of the indebtedness, it not sooner paid, due and payable on JUN £ 8, 2024 ;
{----] WHEREAS, Borrower is indebted 'to L~nder in the principal sum of $ , or so much thereof
as may be advanced pursuant to Borrower's Revolving Loan Agreement dated and
extensions and renewals thereof (herein "Note"), providing [or monthly installments, and interest at the rate and under
the terms specified in the Note, inclu:ling any adjustments in the interest rate if that rate is variable, and providing for a
credit limit stated in the principal sum above and an initial advance of $ ;
TO SECURE to Lender th,..' repayment of (1) the indebtedness evidenced by the Note, with interest thereon,
including any increases if the contract rate is variable; (2) future advances under any Revolving Loan Agreement; (3) the
payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mortgage;
and (4) the performance of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage,
grant and convey to Lender and Lend :r's successors and assigns the following described property located in the County of
L I NCOLN State of Wyoming:
which has theaddress of 1 1835 NIELD SIRING RD,
{Street) (City)
Wyoming 831 10 (herein "Property Address");
(zip Code)
r <W47A93773598MIOO00OWY00124 IO*~WI kk Ip~S ,
AFTON
WY001241
08-29-03 MTG
J W47A93773S98MTGgo0 !WYOO 12420~¥,/f LL lAMS
TOO THER with all . ' · -- 577
appurtenances and' rents, the Improvements now or hereafter erected on the property "
Mortgage;. and .all of :the all of Which shall be deemed to be and rema~in.:ti Part of theand all easements, rights,
:leasehold/ are hereinafter referred to,as the "Pr "
foregoJng, together~ with said property (or the leks'~hold estate property covered by this
· Borrowercovena ., . .. operty, if this'Mortgage is on a
uts that Borr.owe~L ~s lawfully seised of the estate hereby conveyed and has the right to mortgage,
grant and convey the Property, and that the Property is unencumbered except for encumbrances of record and
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to
encumbrances of record.' ,
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal and Interest. Borrowers shall promptly pay when due the principal and interest
indebtedness evidenced by the Note. including any variations resulting from changes in the Contract Rate, and late
charges as provided in the Note.
2. Funds for Taxes and Insur'an2e. Subject to applicable law and only if requested in writing by Lender Borrower
shall pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is
paid in full a sum (herein "~ ', , ,
Funds ) equal to one-twelhh of the yearly taxes and assessments (including condominium
and planned unit development assesEments, if any) which may attain priority over this Mortgage and ground rents on
the P.roperty,. if any, plus one'twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly
premmm installments for mortgage insurance if any, all:as reasonably estimated initially and from time to time by
Lender on the basis of assessments ahd bills arid reasonable esti · .
such payments of Funds to Lender't~t thee ...... ~_. ~ ma.tes thereof. Borrower shall not be obligated to make
..... mat z~orrower makes such payments to the holder of a prior mortgage
or deed of ·trust if such holder is an ihstitutional lender.
If Borrower, pays Funds to Lend'e:_,', the Funds shall be held in an institution 'the dePosits or accounts o~ Which are
insured or guaranteed by..a Federal' ?or state agency (including Lender if Lender is such an institution). Lender shall
apply the Funds to pay said taxes, :assessments, insurance premiums and ground rents. Lender may' not charge for So
holding and applying the Funds, afiglyzing said account or verifying and compiling said ~ssessments and bills, unless
Lender pays Borrower interest On thp Funds and applicable law permits Lender to make such a charge. Borrower and
Lender may agree in writing at the' time of execution of this Mortgage that interest on the Funds shall be paid to
Borrower, and unless' such agreemenit is made or applicable law requires such interest to be paid, Lender shall not be
required, to pay Borrower.any inter,:!'st or earnings on the Funds. Lender shall give to Borrower, without charge, an
annual.accounting of the Funds s!m,)idng.credits and debits to the Funds and the purpose for'which each debit to the
Funds was made. The Funds are pledged as additional security for the sums secured by this k{ortgage.
If the amount of theFunds held ~:'y Lender, together with the future monthly installments of Funds payable prior to
the·due dates of taxes, assessments, i:murance premiums and ground rents, shall exceed the amount· required to pay said
taxes, assessments, insurance premiums and ground rents as the), fall due, such excess shall be, at Borrower's option,
either promptly repaid to Borrower i'or credited to' Borrower on monthly installments of Funds. If the amount of the
Funds held by Lender shall not be ~aufficient to pay taxes, assessments, insurance premiums and ground rents as they
fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as
Lender may require~
Upon payment in'iull "'"'" .... ' ' ' ' "~'~
of all sum~.secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
held by Lender. If under paragraph !17 hereof the Property is sold or the Property is otherwise acquired by Lender,
Lender shall apply, no later than immediately prior
held by Lender at the time of application as a credlt to the sale of the Property or its acquisition by Lender, any Funds
against the sums secured by this Mortgage.
3. ApPlication of Payments. U, nless applicable law or the Note provide otherwise, all payments received by
Lender under the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to
Lender by Borrower Under paragraph: 2 hereof, then to interest payable on the Note, and then to.the principal of the
Note.
4. Prior Mortgages and Deed of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
under any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage,
including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes,
assessments and othei- charges, ribes and imposit/on~-a-t'tr~butable to the ProPerty which may attain a priority over this
Mortgage, and leasehold payments or ground rents, i
· 5. }lazard Insurance. Borrower ~haP v .... ~.~ f. any.
insured against loss.by .... p me ~mprovements now existing ·hereafter erected the Property
fire, hazards included withi , or
ma~y, require and in"SUch arnou;;.,~. ~x;4. ~....: , .. ~ the .te. rm 'extended cove -~-" ..~ - on
111~; ...... · :. ..... a.~.~ mr sucn neriods ~ ~ ~-~ .. r.~,., ~.u such other hazards as Lender
~ ,-~urance carrier ,,~,,;~:~ ,k~. .~ ,- . aa ,~u~er may require. ' =
provided, that such approval shall net be unreasonably withheld. All insurance policies and renewals thereof shall be in
v .......,,~; mc; insurance shall be chosen by the Borrower subject to approval by Lender;
a form acceptable to Lender and stlall include a standard mortgage clause in favor of and in a form acceptable to
Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage,
deed of trust or other security agreement with a lien which has priority over this Mortgage.
In the event of loss, Borrower sha.l give prompt notice to the insurance carrier and Lender. Lender may make proof
of loss if not made promptly by Borrower. r .
Unless Lender and Borrower othe~-wise agree in writing, insurance proceeds shall be applied to restoration or repair
of the Property damaged, if the restiorat/on or repair is economically feasible and Lender's security is not lessened. If
the restoration or. repair is not economically feasible or Lender's security would be lessened, the insurance proceeds
shall be applied to the sums secure,) ky this Security Instrument, whether or not then due, with any excess paid to
Borrower.
If the Property is abandoned by ~orrower, or if Borrower fails to respond to Lender within 30 days from the date
notice is mailed by Lender to Borroqver.that. the insurance carrier offers to settle a claim for insurance benefits, Lender
is author/zed to collect and apply "he insurance proceeds at Lender's option either to restoration or repair of the
Property or to the sums secured by ti:tis Mortgage.'
Unless Lender and Borrower othe:.'wise agree in writing, any application of proceeds to principal shall not extend or
postpone the due date of the mon:hly payments referred to in paragraphs I and 2 or change the amount of the
payments. If under paragraph 17 th,~ Property is acquired by Lender, Borrower's right to any insurance policies and
proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums
secured by this Security Instrument immediately prior to the acquisition.
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of
the Property and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a
unit in a condominium or a planned unit. development, Borrower shall perform all of Borrower's obligations under the
declaration or covenants creating c:r g6verning the condominium or planned unit development, the byqaws and
regulations of the condominium or p, iann~d unit development, and constituent documents.
W¥001242
7. Protectio~ ol/ Lender's ~;~'ct~rit:y. If Borrower fails to perform the covenants and agreements contained in this
Mortgagel or if any action or proceedi~)g is commenced which materially affects Lender's interest in the Property, then
Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including
reasonable attorneys' fees, and take }uc.l~ action as is necessary to protect Lender's interest. If Lender requires mortgage
insurance as a condition of making th'e loan secured by ttfis Mortgage, Borrower shall pay the premiums required to
maintain such insurance in effect u3ti[ such time as the requirement for such insurance terminates in accordance with
Borrower's and Lender's written agreement"or ap'Plicable law.
Any amounts disbursed by Lender 13ursuant to this paragraph 7, with interest thereon at the applicable Contract Rate,
shall become additional indebtednes~s Of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other
terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof.
Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
8. Inspection. Lender may take dr cause to be made reasonable entries upon and inspections of the Property,
provided that Lender shall give Bori'ower notice prior to any such inspection specifying reasonable cause therefor
related to Lender's interest in the Prol~erty.
9. Condemnation. The proceede of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of tl'e Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement
with a lien which has priority over lhis Mortgage.
10. Borrower Not Released;.['orbearance By Lender Not a Waiver. Extension of the time for payment or
,~.modification of amortization of the ~Sums secured by this Mortgage granted by Lender to any successor in interest of
"Borrower shall not operate to release,!in any manner, the liability of the original Borrower and Borrower's successors in
interest. Lender shall not be requi~ed to commence proceedings against such successor or refuse to extend time for
.... 15ayment or otherwise modify amortitation of the sums secured by this tVlortgage by reason of any demand made by the
original Borrower and Borrower's Su¢~cessors in interest. Any forbearance by Lender in exercising any right or remedy
hereunder, or otherwise afforded bylap'plicable law, shall not be a waiver of or preclude the exercise of any such right or
remedy. . : ~
11. Successors and Assigns Bp~nd; Joint and Several Liability; Co-signers. The covenants and agreements
herein contained shall bind, and the'frights hereunder shall inure to, the respective successors and assigns of Lender and
Borrower, subject to the provisions' 0f paragraph 16 hereof. All covenants and agreements of Borrower shall be joint
and several. Any Borrower who co-s:tgns this Mortgage, but does not execute the Note, {a) is co-signing this Mortgage
only to mortgage, grant and convey that Borrower's interest in the Property to Lender under the terms of this
Mortgage, {b) is not personally liable on the Note or under this Mortgage, and (c) agrees that Lender and any other
Borrower' hereunder may al~ree to extend, modifY, forbear, or make any other accommodations with regard to the
terms of this Mortgage or the Note ;vithout that Borrower's consent and without releasing that Borrower or modifying
this Mortgage as to that Borrower's.interest in the Property.
12. Notice. Except for any noti,:O required under applicable law to be given in another manner, {a) any notice to
Borrower provided for in this Mo'tgage shall be given by delivering it or by mailing such notice by certified mail
addressed to Borrower at the Prope'ty Address or at such other address as Borrower may designate by notice to Lender
as provided herein, and (b) any notit;e to Lender Shall be given by certified mail to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower as 'provided herein. Any notice provided for in this
Mortgage shall be deemed to have l~.e, en given to Borrower or Lender when given in the manner designated herein.
13. Governing LaW: Severabili/y. The applicable law contained in the Note Shall control. Where no applicable law
is contained therein, the state and local laws applicable to this Mortgage shall be .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. In the
event that any provision or clause Of this 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 Mor ~igage and the Note are declared to be severable. As used herein, "costs", "expenses"
and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein.
14. Borrower's Copy. Borrowe: shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home
rehabilitation, improvement, repai::, or other loan agreement which Borrower enters into with Lender. Lender, at
Lender's option; may require Borro,~'er to execute and deliVer to Lender, in a fOrm. acceptable to I,ender, an assignment'
of any rights, claims or defenses w;hich Borrower may have against parties who'supply labor, materials or services in
connection with improvements made to the Property.
16. Transfer of the Property. :If Borrower sells or transfers all or any part of the Property or an interest therein,
excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) a transfer by devise, descent, or by
operation of law upon the death of' a joint tenant, or (c) the grant of any leasehold interest of three years or less not
containing an option to purchase, Barrower shall cause to be submitted information required by Lender to evaluate the
transferee as if a new loan were being made to the transferee. Borrower will continue to be obligated under the Note
and this Mortgage unless Lender tel ~ases Borrower in wrttmg.
If Lender does not agree to such sale or transfer, Lender may declare all of the sums secured by this Mortgage to be
immediately due and payable. If t~ender exercises such option to accelerate, Lender shall mail Borrower notice of
acceleration in accordance with par'~graph 12 hereof. Such notice shall provide a period of not !ess than 30 days from
the date the notice is mailed or de!ivered within which Borrower may pay the sums declared due. If. Borrower fails to
pay such sums prior to the expirai~ion of such period, Lender may, without furt, her notice or demand on Borrower,
invoke any remedies permitted by i?aragraph 17 hereof.
NON-UNIFORIVl COVENANTS.~Borrower and Lender further covenan: and ag::ee as follows:
17. Acceleration; Remedies. l,';xcept as provided in paragraph 16 hereof, or as otherwise required by law,
upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage, including the
covenants to pay when due ar,'~ sums secured by this Mortgage, Lender prior to acceleration shall give
notice to Borrower as provided'in paragraph 12 hereof specifying: {I) the breach; (2) the action required to
cure such breach; (3) a date, not' less than 10 days from the date the notice is mailed to Borrower, by which
such breach must be cUred; 'and (4) that failure m cure such breach on or before' the date specified in the
notice may result in acceleration of the sums secured by this Mortgage. The notice shall further inform
Borrower of the right to reins'!:ate after acceleration and the right to bring a court action to assert the
nonexistence of a default or any other defense of Borrower to acceleration and sale. If the breach is not
cured on or before the date' specified in the notice, Lender at Lender's option may declare all of the
08-29-03 MTG
V/47A93773S 98k41690009/YO012430 WILLIAMS ~ OR161NAL
WY001243
..'. ':.",' . , .... , 579
sums Secured by this' Mortga'ge'tolbe immediately due and pa~ab'le without further d'emand and may invoke
the power of sale and any other i'emedies permitted by applicable law. Lender shall be entitled to collect
all reasonable costs and expenses.i*ncurred in pursuing the remedies provided in this paragraph 17, including,
but not limited to, 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 (,f 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 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 purchasi~ 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 Salel including['~lSU't not limited to,
reasonable attorneys' fees and cos,ts of title evidence; (b) to all sums secured by this Mortgage; and (c) the
excess, if any, to' the person or pe[scdns legally entitled thereto.
18. Borrower's Right to Reinstate. 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 enforce this
Mortgage discontinued at any time p~ior to the earlier to Occur of (i) the fifth day before sale of the Property pursuant
to the power of sale contained in this Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower
pays Lender all sums which would t;e then due under this Mortgage and the Note had no acceleration occurred; (b)
Borrower cures all breaches of anyi ether covenants or agreements of Borrower contained in this Mortgage; (c)
Borrower pays all reasonable expen~es~ incurred by Lender in enforcing the covenants and agreements of Borrower
contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not
limited to, reasonable attorneys' fees' and (d) Borrower takes such action as Lender may reasonably require to assure
that the lien of this Mortgage, Lende~:'S. interest in the Property and Borrower's obligation to pay the sums secured by
this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligations
secured hereby shall remain in full fo :ce and effect as if, no acceleration had occurred.
19. Assignment of Rents; ApFo~ntment of Receiver; Lender in Possesion. As additional security hereunder,
Borrower hereby assigns to Lender tt,e rents of the Property, provided that Borrower shall, prior to acceleration under
paragraph 17 hereof or abandonment 'al'the Property, have the right to collect and retain such rents as they become due
and payable
Upon acceleration under paragraph i7 hereof or abandonment of the Property, and at any time prior to the
expiration of any period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed
receiver, shall be entitled to enter u,'>on, take possession of and manage the Property and to collect the rents of the
Property including those past due. Al) rents collected by Lender or the receiver shall be applied first to payment of the
costs of management of the Property arld collection of rents, including, but not limited to, receiver's fees, premiums on
receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Mortgage. Lender and the receiver
shall be liable to account only for those'rents actually received.
20. Release. Upon payment of. all sums secured by this Mortgage, Lender shall release this Mortgage without
charge to Borrower. Borrower shall pay all costs of recordation, if any.
21. Waiver of ltomestead. Borrower hereby waives all right of homestead exemption in the Property.
22. Arbitration Rider to Not;e. The Arbitration Rider attached to and made a part of the Note is hereby
incorporated by reference and made aI pfirt of this Mortgage.
"Th.is space intentionally left blank"
08-29-03 MTG
WY001244
, 5S0
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEED OF TRUST
Borrower and Lender request the raider of any Mortgage~' Deed of Trust or other encumbrance with a lien which has
priority over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any
default under the superior encumbrancd and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower has executed this Mortgage.
RANDALL S WILLIAMS
DENISE T WILLIAMS
County ss:
(SEAL)
-Borrower
__ (SEAL)
-Borrower
The f~)~g instrumentday ofWasx,~/. ]L~ackn°wledged before me, 20bY0~t~lL))x~'t'lf"''
this
WITNESS my hand and official s,'~al.
My commision expires:
STATE OF WYOMING,
County ss:
The foregoing instrument was acknowledged before me by
this ~1_..~_~ day of '~3~A A)~o~
WITNESS my hand and official seal.
My commision expires:
L~o~n Courtly [
t_.MY Commillio~ [~ I~ l 1, 20061
(Sp,lce Below This Line Reserved For Lender and Recorder)
Return To:
Records Processing. Services
577 Lament Road
Elmhurst, 1L 60126
08-29-03 MTG
WY001245
~Wq 7A93773S98MTG900t~WY6012450~W ILL I AMS. ~ OR I O I NAL
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5, ~-7/200q
11 :'.J'. 0
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