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HomeMy WebLinkAbout900289NEW CE.TU,Y MORTGAGE CORPOHATIO. 18400 YON KARMA., SUITE 1000 IRVINE, CA 92612 Loan Number:0001647248 900289 MORTGAGE THIS MORTGAGE is made this 1 6th day of June SCOTT THOMAS HOLDERMAN , A SINGLE MAN AND SHELLEY · LINCOLN ,-r,, CLFRK JEAfqNF '"" er [ S'!0IN2004 , between die Mortgagor, BROOKE , A SINGLE WOMAN (herein "Boixower"), and die Mortgagee, NEW CENTURY MORTGAGE CORPORATION .. , a corporation organized and existing under the laws of CA L I FORN I A , whose address is , 18400 VON KARMAN, SUITE 1000 IRVINE, CA 92612 (herein "Lender"). WI-[EREAS, Borrower is indebted to Lender in the principal sum of U.S. $ 47,900.00 , which indebtedness .is evidenced by Borrower's note dated June 16, 2004 and extensions and renewals thereof (herein "Note"), providing for monthly insmlhnents of principal and interest, with d:e balance of indebtedness, if not sooner paid, due and payable ou Ou I y 1, 2024 - TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, wit 1 interest thereon; the payment of all other sums, with interest thereon, advmmed in accordance herewith to protect the security of thi~ Mortgage; and the performance of the covenants and agreements of Borrower herein contained, Borrower does hereby [nortgage, grhnt and convey to Lender, with power of sale, die following described property located in the County of L I NCOLN , State of Wyoming: SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF THIS'DEED OF TRUST IS SECOND AND SUBORDINATE TO AN EXISTING FIRST TRUST DEED LOAN NOW OF RECORD. A.P.N.'37182830501600 whichhastheaddresso[ Wyon]J. ng 8 31 2 8 [ZIP Code] 521 THREE RIVERS DRIVE , I~LPINE [Streel] : (herein "Property Address"); ~ [City] TOGETHER with ~1 the improvements [iow or hereafter erected on the property, and all easements, rights, appurtenances and rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage; and all of die foregoing, together with said property (or the leasehold eSlate iE this Mortgage is on a leasehold) are hereinafter referred to as the "Property." Borrower covenants that Borrower is lawfully seised of die estate hereby conveyed. ~nd has the right to mortgage, grant and convey the Property, and that die Property is unencumbered, except for encu~nbrances of rrcord. Borrower covenants that Borrower warrants and will defend generally the fide to the Property against all claims mid demands, subject to encumbrances of record. UNIFORM COVENANTS. Borrower and Lender covenant mid agree as follows: 1. Payme,t of Principaland Interest. Borrower shall prompdy pay when due: lhe principal and interest indebtedness evidenced by the Note and late charges as provided in the Note. : 2. Funds for Taxes ',ind Insura}¢i::e. Subject to applicable law or a written waiver bs:' iL,ender, Borrower shall pay to Lender on the day monthly payments of principalI and interest are payi~ble under the Note, nnfil the, N:?te is paid in full, a sun[ (herein "Funds"). equal to one-twelfth of the yearly axes and assess[nents (in'cluding condominimn and pla~ined unit' development assess~nents, if any) which may attain priority over this Mortgage and ground rents on the Property, if ~mY, plus one-twelfth of yearly premium instalhnents for hazard iusurance, plus one-twelfth of yearly pre[nium installments for mcr?gage insurance, if any, all as reasonably estimated initially and frown fi[ne to time' by Lender on the basis of assess~nents and bills and reasonable estimates thereof. Borrower shall not be obligated to [n&e such payments of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior morlgage or deed of trust if such holder is an institutional lender. IWYOMING -SECOND MORTGAGE- 1/80- FNMA/FHLMC UNIFORM INSTRUMENT] Form 3851 Page 1 of 4 ' (~)e-76(WY) 189t2).02 VMP MORTGAGE FORMS - (800)521-7291 (J'~J(J(J~'~ iL' :-' 3 0 0001647248 If Borro~vcr pays Funds to Lender, the Fauds shall be held m an restitution die dep_~sits or accounts of which are insured or gnarantecd by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply die Fiinds to pay said taxes, assessments, insurauce premiums and gronnd rents. Lender may not charge for so holding and applyiag the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender pays Bop;ower interest on the Fuuds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of dlis Mortgage dial interest on die Fuuds shall be paid to Borrower, and unless such agreement is Inade or applk:able law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on die Funds. Lender ,,.hall give to Borrower, without charge, an annual accounting of the Fuuds showing credits mid debits to the Funds mid die purpose [or'which each debit to die Funds was made. The Funds are pledged as additional security for die sums secured by flits Mortgage. If the anmunt of die Fuuds held by Lender, together with the fi~ture monthly instalh~en:ts of Funds payable prior to the due dates of taxes, assessments, insurance'premiums and ground rents, shall exceed the mnount ::;equired to pay said taxes, assess~nents, insurance premiums and ground rents as dray fall due, such excess shall be, at Borrower's option, either promPdy repaid to Borrower or credited to Borrower on monthly instalbnents of Funds. If die amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance pre,niums and ground rents as they f,'fll due, Borrower shall, pay to !.ender troy amount necessary to make up the deficiency in one or more i;?:.yments as Lender ina), reqnire. Upon payment in full of.all sums secnred by Ilfis Mortgage, Lender shall prmnptly refur.'d to Borrower any Fuuds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is Otherwise acquired t'y Lender, Lender shall apply, no later dian ilnmediately prior to die sale of die Property or its acqnisifion by Lender, any Funds hel::l ')y Lender at the time of application as a credit against the sums secured by flits Mortgage. 3. Application nf Paynients. Unless applicable law provides otherwise, all payme~ts received by Lender under the Note and paragraphs 1 aud 2 hereof shall be applied by Lender first iii payment of a~nounts payabl( to Lender by Borrower tinder paragrapti 2 hereof, then to interest payable on the Note, and then to the principal of the Note. 4. Prior Mortgages and Deeds of Trnst; Charges; Liens. Borrower shall per[oran all of Borrower's obligations Under any morlgagc, deed of trust or oilier security agreement with a lien which has priority over this Mortgage, including Borrower's covenants to make paymenks wheu due. Borrower shall pay or cause to be paid all taxes, assessments mid other chargeS, fines and impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. 5. Hazard Insurance. BorroWer shall keep die improveinents now existing or hereafter erected ou the Property insured against loss by fire, !lazards included within die term "extended coverage," and such other hazards as' Lender may requke and in such anlounts and for such periods as Lender may reqnire. The insurance carrier providing the insur~ce shall be chosen by Borrower subject Io approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof ghrll be in a form acceptable to Lender and shall include a s~ldard mortgage clause in favor of and in a form acceptable to Lender. Lead:,r shall have the right to bom the policies and renewals thereof, 'subject to the terms of any mortgage, deed of trust or other securit';~ agreement with a lien which has priority over this Mortgage. ' In the event of loss, Borrower Shall give prompt notice to the insurance carrier and Le.~d,~r. Lender may make proof of loss if not made prompdy by Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Louder to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoratiou or repair of the Properly or to the sums secured by this Mortgage. 6. Preservation and Maintennnce ,of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the prOperty in good repair and shall not commit waste or permit impakment 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 ..mit in a condominium or a planned unit develop,riehl, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condomir~ium or planned unit development, and constituent documents. 7. Protectinn of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest iu the P;operty, dion Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasomble attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a cond;tion of making the loan secured by this Mortgage, Borrower shall pay the pre~ninms required to maintain such insurance in effect un:.il such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amonnts disbursed by Lender pnrsuant to this paragraph 7, with interest dlereon:, at die Note rate, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to. oilier terms of payment, such amounts shall be payable upon notice from Lender to BOrrower requesting pay~neut thereof. Nothing contained in dlis paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable entries upon and insipectious of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause Il:ere[or related to Lender's interest in die Property. 9. Condemnation. The proceeds of ,'my award or claiin for damages, direct or consequential, in connection with any condemnatiou or other taking of the Property, or part thereof, or for conveyance in lieu of :;ondemnation, are hereby assigned and shall be paid to Lender, subject to die terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. 10. Borrower Not Released; Forbearance By Lender Not a Waiverl Extension of th~ filne for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in il~terest of Borrower shall not operate to release, in any manner, the liability of die original Borrower and Borrower's successors in J'nterest. Lender shall not be required to commence proceedings against such successor or refuse to exteud time for payment or otherwise modify amortization of die sums secured by this Mortgage by reason of any tlemand made by die original Borrower ami . orrower s successors in interest. Any forbearance by Lender iii exercising any right or .relnedy hereunder, or otherwise afforded bY applicable law, shall not be a waiver of or preclnde the exercise of any sncb right or remedy. 11. Successors and Assigns Bmmd; Joint and Several Liability; Co-signers. The coyenants ,and agreements herein contained shall bind, and. the rights hereunder shall imire to, the respective successors and assignsloi7 Lender and Borrower, subject to the provisions of paragraph 16 hereoE All covenants and agree~nents of Borrower shall be joint', aim several. Any Borrower who co-signs this Mortgage? but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant mid convey dial Borrower's interest in the Property to Lender under the terms of this Mortgage, (b) is not personally lial;le on the Note or under this Mortgage, and (c) agrees that Lender and any other Borrower hereuuder may agree to extent, modify, forbear, or make any other acco~mnodations with regard to die terms of this Mortgage or the Note without that Borrewsr's consent and without releasing that Bon'ower or inodifying this Mortgage as to dlat Borrower's interest iu die Property. 12. Not,~.c.---r~xctl.t for any notice required under applica'0T~'Zia;~~ to be given iu anod~er m~ner, (a) m~d'to Bo~ower provided for in tiffs Mortgage shall De given by delivering it or by mailing such notice by certified m~l addressed to Bogower at Property Addr~,s or at such other address as Bogowcr may d~ignate by notice to Lender ;,s provided herein, m~d (b) ~y notice to Lender shall bc given by certified mail to Lcnder's address stated herein or to such od~er address ~ Lender may d~signate by notice to Borrower as provided herein. Any notice provided for in tiffs Mortgage sh~l be deemed t0' have been given to Bo~ower or Lender when given in tim manner designated herein. 13. (,overnlng Law; Severability. Thc state antl local laws applicable to this Mortgage shall be tim laws of ~c jurisdiction in which tim Property is located. The IDregoJng sentence shall not limit tim applicability of Fede;'~ law to ~is Mortgage. In d~e event ~at any provision or clause of dfis Mortgage or file Note conflic~ wid~ applicable law, such'conflict sh~l not affect o&er provisions of this Mortgage or thc Note which cm~ be given effect without the conflicting provision, anti tc, ~is end ~c provisions of ~is Mortgage and the Note ~e declined to be severable. As used herein, "cosU," "expense" m~d "attornzys' fees" include ~1 sums to ~c extent not proltibJtcd by applicable law or limited herein. 14. Borrower's Copy. Borrower shall be furnished a conformed copy of tim Note aqd of' flits Mortgage at ~c time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Bogowcr shall fulfill all of Bo~owex's obtigatious under m~y home rehabilitation, improvement, repak, or off, er 1o~ agreement which Bogower enters into wid~ Lender. I,ender, at Lender's option, may require Bogowcr to exccule ~d deliver to Lender, in a form acceptable to Lender, ~ assignment of any right, claims or defenses which Borrower may have against parties who supply Iai)or, materi;ds or services in connection wid(,improvemen~ made to ~e Property. 16. Transfer or the Property or a ~eneficial Interest iu Borrower. If all or any prat of the Property or rely interest in it is sold or transferred (or if a benefici~ interest in Borrower is sold or u~sfcgcd and Bo~owcr is not a natur~ person) wi~out Lender's prior written consent, Lender may, at i.~ option, require immediate payment in full of all st:ms secured by tiffs Mortgage. However, fltis option shall not be exercised by Lender if exercise is prohibited by federal law as of tlc date of flits Mortgage. If Lender exercises dfs option, Leader shall give Borrower nodce of acceleration. 2bc notice sh~l provide a period of not less dmn 30 days from ~c date tim notice is delivered or nudled wifltin which Bo~owcr must pay fll sums secured by dlis Mortgage. If Bon'owcr fails to pay d~csc sums prior to die expiration of fids period, Lender may invoke ;¢~y remedies permitted by tiffs Mortgage without further n96c~ or,demand on Bogowcr:. , ~ON-UNIFORM coVE.N~TS. B.o~ower,and Lender fur~er covcn~t and a~ee ~ foSlows: 17. Acceleration; Remedies~'Except~ as pkovided 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 secnred by this Mortgage, Lender prior to acceleration shall give notice to Borrower as provided in paragrapi~ lJ, hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, not less than 10 days from the dale the notice is mailed lo Borrower, by which such breach must be cured; and (4) that failm'e to 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 Borr0wer of the right to reinstate after acceleration and the right to bring a court action tu assert the nonexistence of a derault or any other defense of Borrower to acceleration and sale. Ir the hreach is not cured on or hefore the date specified ia the notice, Lender, at Lender's option, may declare all of the sums secured by this Mortgage to he immediately due and pay:,ble without further demand and may invoke the power of sale and any other remedies permitted by applicable law.. Lende7 sqall be entitled to collect all reasonable costs anti expenses them'red in pursuing the remedies provided in this paragraph 17, including, but not limited lo, reasonable attorneys' fees· 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, ir 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 n.~tice 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 :.nd expenses or the sale, including, but not limited lo, reasonable attorneys' fees and costs nf title evidence; (b) to all sum's secured by this Mortgage; and (c) the excess, if any, to the person or persons legally entitled thereto. 18. Borrower's Right to Reinstate. Notwi~slanding Lender's acceleration of d~e sams secured by ~is Mortgage due to Bogowcr's breach, Bogower shall have file right to have any proceedings begun by Lcnqcr ;t6 enforce ~is Mortgage discontinued at any time prior to ~e earlier to occur of ti) fl~e fiffl~ day before sale of dm Property pursuant to ~e power of sale con,ned in ~is Mortgage or (ii) envy of a judgmcnt enforcing ~is Mortgage if: (a) Bogower pays Lender all sums which would be fllen due under this Mortgage and tim Note had no acceleration occngcd; (b) Bo~ower cur~ all br~chcs .)f ~y oflmr coverture or agreemcnm of Borrower contained in ~is Mortgage; (c) Bogowcr pays all re~onablc expenses incuged by Lender in enforcing ~e covenan~ ~d agreements of Bo~ower contained in' ~is Mortgage, and in enforcing Lender's remedies as provided in p~agraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower ~ such a'afion ~ Lender may r~sonably requkc to assure flint d~e lien of dfis Mortgage, Lender's interest in tim Property ~ Bogower's bb':igafion t0 pay fl~e sums secured by ~is Mortgage shall continue unimpaired. Upon such payment and cure by'Bogowcr; ~is' Marlgage ~d d~c obligations sec~ed hereby shall remain in full force and effect as ff no acceleration had occu~ed. ' ' 19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As add tic.nM security hereunder, Borrower hereby assigns to Lender tim ren~ of tim Property, provided ~at Bo~ower shall, prior to acceleration under paagraph 17 hereof or abandomnent of file Property, have file right to collect and reain such renB as ~ey become dtie ~d payable. Upon acceleration under paragraph 17 hereof or abandomnent of ~e Property, and m ~y time prior to ~e expkafion of any period of redemption following judicial sale, Lender, in person, by agent or by judicially api"~finted receiver, sh~l be entitled to enter npon, rake possesskm of and manage fl~e Property ~d to collect ~e renB of fl~e ~operty inqluding ~ose past due. All renB collected by Lender or the receiver shall be applied lb-st to payment of ~e cosB of mmlagemeqt of file Property and collection of renB, including, but not limited to, r~eiver's fees, premiums on receiver's bonds ~d r~ontb:e attorneys' fe~s, ~d ~en to fl~e sums secured by this Mortgage. Lender and fl~e receiver shall be liable to accouut only for 6~ose ~en ~ actually r~eived. 20. Release. Upon payment of all sums secured by Otis Mortgage, Lender shM; r-:ieee Otis Mortgage wi~out chage to Borrower. Borrower shall pay all costa of recordation, if any. 21. Waiver of Homestead. Borrower hereby waives ~1 right of hom~iead exemption m fl~e Property. {~®-76(WY) ~912).o2 Page 3 oF a ',,009 REQUEST FOR NOTICE OF DEFAULT 'i AND FORECLOSURE UNDER SUPERIOR/- MORTGAGES OR DEEDS OF TRUST , , 0001647248 Borrower and Lender request the holder of any mortgage, deed of trust or other cncumln ance with a lien which has priority over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of ~is Mortgage, of m~y default under ~e superior encmnbrancc and of ~y sale or other foreclosure action. ~ IN WITNESS W~REOF, Bo~ower has executed Ibis Mortga~ ~ ~ ,l I ~ I ~ SHELLEY BROOKE GOINS -Bo.ow.~ (Seal) - Borrower STATE OF WYOMING., _(Seal) Cnu at3, ss: The foregoing instrument was acknowledged before me this ~_~ (person acknowledging) Notary Public - Borrower (Sign Original Only) County o! ~ State of Lincoln ~',1,.~ , g.-?.'_~.:~ wyoming (Space Below This Line Reserved For Lender and Reco -der) Attached Legal Description '-,-.310 Lot 12 Forest Meadow Subdivision, according to the official plat thereof in the Office of the County Clerk, Wyoming This is a 2nd Real Estate Mortgage recording concurrently with a 1st Real Estate Mortgage dated June 16, 2004 in favor of New Century Mortgage Corporation in the original amount of $191,600.0'0.