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HomeMy WebLinkAbout900782Recording reqfieste(1 by: Wells Fargo Bank N.A. Wells Fargo Home Equitsy 526 Chapel Hills Drive Colorado Springs, CO 80920-1030 900 RECEIVED LINOOL. r',~ COUNTY CLERK When recorded return to: Wells Fargo Bank N.A. Wells Fargo Services Co. Consumer Loan Servicing P.O. Box 31557 Billings, MT 59107-9903 Stale of Wyoming -- 1. DATE AND 14 May Space Abovu this Line For Recordhtg D;~te - MORTGAGE ~/~'~. 65034796251998 (With Future Advance Clause) PARTIES, 'The date of this Deed of Trust CSecurity lnstrmnent") is ' 2004 and the parties, their addresses and tax identification nmnbers, it' required, are as follows: MORTGAGOR: CINDY A 6RAMKE, C~ISTINE A 6RAMKE, GRAMKE, AS JOINT TENANTS AND ANGELA M [---] If checked, refer to th6 attached Addendmn incorporated herein, for additional Mortgagors their mgnamres and acknowledgments. LENDER: Wells FargD Bank N.A. 420 Montgomery Street San Francisco, CA 94104 CONVEYANCE. For good 'md valuable consideration, the receipt and sufficiency of which is acknowledged, and to secrete the Secm-ed Debt (defined below) and Mortgager's performance under this Secm-ity Instrument, iqortgagor grants, bargains, conveys, mortgages and warrants to Lender, With power of sale, the fol~owiag described property: See attached Exhibit A Tax ID 21162330711200 The property is located in Lincoln (County) K~lqMERER , Wyoming 83101 (City) (Zil~ Code) WYOMING MASTER FORM MORTGAGE Page 1 o! 8 LEWY1 (o2 ~ o) ~a P MORTGAGE FORM S - (800)521-7291 at 1681 TROY COURT (Address) 20041137400263 /4, .¸ 7,¸ o WYOMING - MASTER FORM MORTGAGE LEWY2 (o2~o) T'ogether with all rights, easements, appurtenances, royallics, mineral rights, oil and gas rights, all water find rtparian rights, ditches, and water stock and all existing and futm-e improvements, structures, fixtures, and rep!acements that may now or at any tnne m the fl~ture be part of the real estate described above (all referred to as "Property"). MAX1MIIM OBLIGATION LIMIT. The total principal amotmt secured by this Secm'ity Instrument at any one time shall not exc;:ed $ 60 ~ 000,00 This limitation of amomn does not include interest and other lc. es and charges validly inade pursuam to this Security Instrument Also, this limitation does not apply ~o advances made under the terms of this Secm'ity Instrmnent to protect Lender' s security m~d to i)erform any of the covenants contained in this Security Instrument. SECURED DEBT AND' FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred um~ier the terms of the prommsory note, revolving line of credit, contract, guaranty or other evid2nce of debt dated 5/14 / 2004 together with all amendments, extenstons, modifications or renewals. The maturity date of the Secured Debt is 5120/2014 B. All future advances fi-om Lender to Mortgagor under such evidence of debt. All furore advances are secured as if mt.de on the date of tiffs Security Instrument. Nothing in this Security Agreement shall constitute a commitnlent to make additional or filture loans or advances which exceed the amount shown in Section 3. Any such commitment must be agreed to in a separate writing. C. All sums advanc¢,d and expenses incurred by I, ender for insuring, preserving or otherwise protecting the Prcperiy and its value and any other sums advanced-and expenses incurred by Lender under the terms of tiffs Security Instrument. PAYMENTS. Mortgagor a;=n'ees that ,'ill payments under the Secured Debt will be paid when due and in accordance with the 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 lie~ document that created a prior security interest or encumbrance on the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives I¥om the holder. C. Not to allow any modification or extension of, nor to request any future advmmes tinder any note or agreement secured by the lien docmnent without Lender' s prior written consent. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when dne. Lender may require Mor!gagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien. of the Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, clai~ns or defenses Mortgagor may have against parties who supply labor or materials to nraintain or improve the Property. DUE ON SALE OR ENCUMBRANCE. Upon sale, transfer, hypothecation, assignment or encumbrance, whether vol,rotary, involuntary, or by operation of law, of all or any part of the Property or any interest therein, then at its sole option, Lcuder may, by written nolice to Mortgagor, declare all obligations sectred hereby immediately due and payable, except to the extent that such acceleration for and in such particular circumstances where exercise of such a right by Lender is prohibited by law. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good cond;.tion and make all repairs that are reasonably necessa,7. Mortgagor shall not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property fl-ee of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior wriuen consent. Mortgagor will not Permit any change in any license., restrictive covenant or easement without Lender's prior written consent. m~ °'~ 20041137400263 8-68 WYOMING - MASTER FORM !VIORTGAGE LEWY3 ~ortgago~ will notify Lender of all dem,'mds, proceedings, claims, and actions against Mortgagor, and of any loss or damage [o th(., Property. Lender or Lender's agents may, at Lender's optiou, enter the Property at any reasonable' time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the tir:~e of or before an inspection specil~ing a reasonable purpose tbr the inspection. ~y inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender' s inslcecuon. 10. ABTHORITY TO PERFORM. If Mortgagor fails to p~rform any duty or any of the coveuants contained in this Securi~ Instrument, Lender may, without notice, perform or cause thein to be performed Mortgagor appoints Lender as attorney in fact to sign Mortgagor' s'name or pay any amount necessa~ for perfcrm~ce. Lender's right to perlbrm for Mortgagor shall not create au obligation to perform, and Lender' s failure to perform will not preclude Lender fYom exercising any of Lender's other rights under the law or this Security lnstrumem. If tiny construction on the Property is discontinued or not c~ied on in a reasonable ma~er~ Lender may take all steps necessary to protect Lender' s security interest in the Property, including completion of the construction 11. ASSIGN~NT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and wan'ants to l,ender as additional security all the right title and to any and all existing or future leases, subleases, and rely other written or verbal agreements IBr the usc and occupancy of any portion of the Property,' including any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues and profits (all referred to as "Rents"). Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor may collect,' receive, enjoy and use the Rents so long as Mortgagor is not in default under the te~s of this Security hrstrument. Mortgagor agrees that this assignment is innnediately effective between the parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to third parties when Lender t~es affirmative action prescribed by law, and that this assignment will remain in effect during m~y redemption period until the Secured D~bt is satisfied. Mortgagor agrees thaf Lender may take actual possession of the property without the necessity of commencing legal action and that actual pbssession is dee~ned to occur when Lender, or its agent, notihes Morigagor of default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver to Lender any payment of Rents in Mortgagor's possession ~d will recsive.any Rents in trust for Lender aud will not commingle the Rents with rely other flinds. Any amounts collected will be applied as provided in this Security instrument. Mortgagor warrants that no defaub exists under the Leases or any applicable laudlord/tenant law. Mortgagor also agrees to maintain and require troy tenant to comply with the terms of the Leases and applicable law. 12. LEASEHOLDS; CONDOM~IUMS; PL~D UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions or any lease if thio Security Instrument is on a leasehold. If the property is a milt in a Condominium Project or is part of a Planned Uuit Development ("PUD"), Mortgagor agrees to the lbllowing: A. Obligations. Mortgagor shall perform all of Mortgagor's obligations under the Constituent Documents. The "Cohstituent Documents" ~e thc: (i) Declaration or any other docament which creates the Condominium Projects or PUD and any homeowners association or eqmvalent entity ("Owners Association"); (ii) by-laws; (iii) code of regulations; and (iv) oiher equivalent docmnents. Mortga[or shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B, Hazard Insurance. Su long as the Owners Association maintains, wilh a generally accepted insurance c~rier, a "master" or "bl~kct" policy on the Condominium Project or PUD which is satisfacto~ to Lender and which provides insm'ance coverage in the amounts, for thc periods, m~d against the hazards Lender requires, including fire and hazards included within the term "extended cove~mge," then Mortgagor's obligation under Section 19 to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that the rcquir~d~overage is ~0 ~ o,, 20041137400263 provided by tt~e Owner's Association policy. Mortgagor shall give Lender prompt notice of any lapse in required hazard ingurance coverage. In the event of a distribution of hazard insurance proceeds in lien of restoration or repair following ,q loss to Property, whether to the unit or to conunon elements, any proceeds payable to Mortgagor are hereby assigned and shall be paid to Lender for applicatmn to the sums secured by this Sccm'ity Instrument, with any excess paid to Mortgagor. C. Flood Insurance. Mortgagor agrees to ~naintain flood insurance for the life of the Secured Debt which is acceptable; as to form, amount and extent of coverage to Lender. D. Public Liability Insurance. Mortgagor shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable ill form, amount, and extent of coverage to Lender. E. Condenmation. The proceeds of any aw,'u-d or claim for dalnages, direct or consequential, payable to Mortgagor'in connection with any coudemnation or other taking of all or any part of the Property, whether~ of the unit or of the common elements, or for any conveyance in lieu of condemnatiou, are hei'eby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sfim~ secured by the Security Instrument as provided in Section 18. F. Lender's Prior Consent. Mortgagor shall not, except at'ter notice to Lender and with Lender's prior written consent, either partition or subdivide thc Property or Consent to: (i) the abandonment or term/nation of the Condominium Project or PUD, except for abandonment or termination required by law in the case of substantial dcstrnction by fire or other casualty or m the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management by the Owners Association; or (iv) any action which would have the el'fect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. G. Remedies. If Moi:'tgagor does not pay condominiun~ or PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this section shall become additional debt of Mortgagor secured by this Security Instrument. Unless Mortgagor and Lender agree to other tern'ts cf payment, these amounts shall bear interest fi-om the date of disbursement at the Secured D~bt rate and shall be payable, with interest, upon .notice fi-om kender to Mortgagor request lng payment. 13. DEFAULT. Mortgagor will be in default if any party obligated on the Secured Debt fails to make payment when due. Mortgagor will be in defanlt if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A go~d faitl-i belief by Lender that Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of tiny payment or the value of the Property is impaired shall aiso constitute an event of default. 14. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with notice 'of the right to cure or other notices and may establish time schedules for foreclosure actions. Subiect to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Mortgagor is m default. At the option of Lender, all ol; any part of the agreed fees and charges, accrued interest and principal shall become immediately due m!d payable, after giving notice if required by law, upon the occm-rence of a default or anytime thereafter. In addition. Lender shall be entitled to all the remedies provided by law~ the terms of the Securec Debt, this Security Instrument and any related documents, including without limitation, the power to seh the Property. All remedies are distract, cumulative and not exclusive, and the Lender is entitled to all ~remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of an'y sum in payment or partial payment on tile Secured Debt after the balance is due or is accelerated or ,ffter foreclosure proceedings are filed shall not constitute a waiv~L of or WYOMING- MASTER FORM MORTGAGE ~ LEWY4 (o21o) P~ge4 o,~ 20041137400263 Lender's right to require complete cure of any ex~stmg default By not exercising any remedy on Mortgagor's default, Le~kler does not waive Lender' s right to later consider the event a defa,lt if it continues or happens again. 15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortgagor' will also pay on demand any mnount incurred by Lender for ins~i~ring, inspecting, preserving or otherwise protecting the Proper~y aud Lender' s security interest. These expenses will bear interest fi'om the date of the payment until paid m full at the highes~ interest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and e>:penses incurred by Lender in collecting, euforcing or protecting Lenders' rights and remedies under this Security Instrument. This a,nount may include, but is not limited to, attorneys' fees, court costs, ~nd other legal expenses. This amount does not ~nclude attorneys' fees for a salaried employee of the Lender. This Security Instrument shall remttin in effect uutil released. Mortgagor agrees to l?ay'for any recordation costs of such release. 16. ENVIRONMENTAL LAWS AND ItAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law mcan'.% without limitation, the Comprehensive Environmental Response, Compensation and Liability :Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulati6ns,'ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfm'e, enviromnerlt or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or haza,-dous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, s~'fety, welfare or environment. Thc term includes, without limitation, any substances defined as "hazhrdous material," "toxic substances," "hazm-dous waste," or "hazardous substance" under any En'vironmental Law. Mortgagor represents, wm-rt'nts and agrees that: A. Except as previously disclosed and acknowledged in writing to Lender, nc) Hazm-dous Substance is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities oI H[zardous Substances that are generally recognized to be appropriate for the normal use and m['.intenance of the Property. B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been,:are, and shall remain in fidl complitmce with any applicable Environmen(al Law. C. Mortgagor shall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs ~n, under or about the Property or there is a violation of any Enviroumental Law concerning the Property. In such an event, lvlortgagor shall take all necessary remedial action in accordance With any Environmental Law. D. Mortgagor shall [tnmedimely notify Lender in writing as soon as Mortgagor has reason to believe there is a~y pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardons Substance or the violation of any Environmental Law. 17. CONDEMNATION. N.iortgagor will give Lender prompt notice of any pending or threatened action, by private or public entities to pnrchase or take any or all of the Property through condemnation, eminent domain, or ani, otl'ier means. Mortgagor authorizes Lender to inte,'vene in Mortgagor's name in any of the above desert.bed actions or claitns. Mortgagor assigns to Lender tile proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Secm-ity Instrument. This assignme~t of proceeds is subject to the terms of any prior mortgage, deed of trust, WYOMING - MASTER FORM MORTGAGE LEWY~ ~o~o~ ~"~"~ °'~ 20041137400263 WYOMING - MASTER FORM MORTGAGE LEWY6 (o2~o) 18, INSURANCE. Mortgagor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in tt~e mnoun[s and for the.per~ods that Lender requires. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to Lender's.approwfl, which shall not be unreasonably wi lhheld. I:' Mortgagor fails to maintain the coverage described above, Lender ~nay, at Lender's option, obtain c. overage to protect Lender's rights in the Property according to the terms of this Security Instrument All insurance policies and renewals shall be acceptable to Lender and shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policies and ~en:wals. If Lender requu'es, Mortgagm- shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give innnediate notice to the insurm~ce carrier arid Leuder Lender may make proof ol' loss if not made immediately by Mortgagor. Unless 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 the due date of the scheduled payment nor c':xange the amount of any payment. Auy excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. 19. ESCROW FOR TAXES XND INSURANCE. Unless other\vise provided in a separate agreement, Mortgagor will not be reqmred to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS .kND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Eender may deem reasonably necessary. Mortgagor agrees to sigh't, deliver, and file any additional docmnents or certifications that Lender may consider necessm-y to perf:ct, coutinue, and preserve Mortgagor's obligations under this Security Instrument and Lender's :lien status on the Property. 21. JOINT AND IN'DIVIDIIAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties tinder this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but~ does not sign an evidence of debt, Mortgagor does .so only to mortgage Mortgagor's interest in the Property to secure pay~nen[ of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guarm~ty between Lender and Mortgagor, Mortgagor agrees to waive auy rights that may prevent Lender bringing m~y action or claim against Mortgagor or any party iudebted under the obligation. These rights may include, but'ar~: not limited to, any anti-deficiency or one-action laws. Mortgagor agrees that Lender and any party .o this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor' s consen[. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall brad and benefit the successors and assigns o[ Mortgagor and Lender. ~ 22, APPLICABLE LAW;' SEVERABILITY; INTERPRETATION. This Security Instnnnent is governed by the laws iof the jurisdiction in which the Property is located, except to tile extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete ~nd fully integrated. This Security Instrumellt may not be mnended or modified by oral agreement. Any: section in this Security Instrument, attachments, or any agreement related to the Secured Debt that c~nflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced ac~'ording to its terms, that section will be severed and 'will not alYect the e~forceability of the retnainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Secm'ity Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security lnstrtnnent. In tile event any section of this ..... 872 Security Instrument directly conflicts with any section of the revolving line of credit agreement or promissory note referenced in Section 4, the terms anti conditions of the revolving line of crcdtt agreement or prom~ssor; note (as applicable), the arbitration agreement and the agreement to provide agreement or promissorj note (as applicable), the arbitration agreement and the agreement to provide flood/prol)erty insurance, t:ll of which 1 agree to by siglnng thts Security Instrument. the terms and conditions of said documents and not the Security Instrument shall control. 23. NOTICE. Unless otherMse required by law, any notice shall be given by delivering it o~ by mailing it by first class mail to the appropriate party's address on page I of this Security Instrument, or as shown in Lender's records~ or to any other address designated m writing. 24. WAIVERS. Except to the extent prohibited by law, lvlortgagor waives and right regarding the marshalling of liens and assets, and hereby releasing anti wmwng all rights under and by virtue of the homestead exemption laws of this state. 25. OTHER TERMS. If checked: the following are applicable to this Security Instrument ~ Line of Credit. The Secured Debt includes a revolving line of credit provismn Although the Secured Debt may be reduced to a zero bahmce, this Security [nstrnment will remain m effect until re leased. [~ Construction Loan. This Security Instrument secures an obligation incnrred for the construction ~)f an ~mprovement on the Property [~] Fixture Filing. Mortgagor grants to Lender a security mleresl tn all goods that Mortgagor owns now o~ m the future and that are or will become fixtures related to the Property This Security Instrument suffices as a financing statement and any carbon, pbolographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. [~ Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of it copy of this Security Instrmnent.on the date stated on page 1. ~o~t[ago~ C~NDY A G~ Dar, k,tortgago,-CHRISTINE A g ' Date Mortgagor Dale lvl ortgagor Dale Mortgagor Date Mortgagor WYOMING - MASTER FORM MORTGAGE LEWY7 (o2~o) Date lvlortgagor Page 7 of 8 Date 20041137400263 ACKNOWLEDGMENT: (Individual) STATE OF ~ COUNTY OF Lincoln The ~regoinginstrumentwasacknowledgedbefore meby CINDY A GRAMKE, CHRISTINE A GRAMKE, ANGELAM GRAMKE BY CINDY A CRAMKE BY CINDY A GRAMKE AS ATTORNEY IN FACT AS ~TTORNEY IN FACT dayof f(/[ O"[_~,~/._. this Witness my hand and official seal. (Signature of Ott'l~ t..-'[ ~ ? (Title of Oflider) (Seal) My Commission Expires: WYOMING - MASTER FORM M(~)R'f'GAGE LEWY8 (o21o) ~. P~ge 8 of 8 20041137400263 874 EXHIBIT A ~.':' tf.~, ~' ~ LOT 5B OF BLOCK 1 OF LINCOLN HEIGItTS 5TH ADDITION, FIRST FILING, TO THE CITY OF KEMMERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIM, PLAT TIIEREOF. / / / / / / / /