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Home My WebLink About902053 t:.~,~:IVED _INE, OL;': C('.,I!!'.TY OLERK State of Wyoming .................9 0 2 0 I,~:z'--'~pace3 Above This Line MORTGAGE., (With Future Advande 'ciadSe)' DATE AND PARTIES. The date of this Mortgage (Security Instrument) is AUGUST 10 parties, their addresses and tax identification numbers, if required, are as follows: 2004 MORTGAGOR: Donald C. Baillie AND Judy RIGHT OF SURVIVORSHIP 74 Cedar Court THAYNE, WY 83127 A. Baillie, HUSBAND AND WIFE, AS JOINT TENANTS WITH SOCIAL SECURITY#: 520-46-1236 520-46.-2806 ~lf checked, refer to the attached Addendum iucorporated herein, for additional Mortgagors, their signatures and acknowledgmenls. ' LENI)ER: WYOMING EMPLOYEES FEDERAI~ CRED1T UNION ORGANIZED AND EXISTING UNDER, TltE LAWS OF THE UNITED STATES OF AMERICA 2223 WARREN AVENUE WY 82001 TAXPAYER, I.D. #: 83-0179749 CONV,EYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the fbllowing described property: Plat 18, Lot 159, Star Valley Ranch Subdivision within the NWl/2. N1/2, SW1/4 of Section 5, T34N, RllSW of the 6th P.M. The property is located iu LINCOLN at (County) 74 Cedar Court , THAYNE , Wyoming 83127 (Address) (City) (ZIP Code) Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and waler stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any lime iu the fulure, be part of the real estate described above (all referred to as "Property"). MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ 100,000.00 This limitatim~ of amount does not include interest and other lees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terlns of this Security h~strulnent to protect Lender's security and to perlbrm any of the covenants contained ia this Security lnstrn~neut. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of all prDmissory note(s), contract(s), guaranty(s) or other evidence of debt described secure and you should include the final maturity date of such debt(s). HOME EQUITY LINE OF CREDIT AGREEMENT DATED AUGUST 10, 2004 , AND MATURING JULY 30, 2019 All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt executed by Mortgagor m favor of Lender executed after this Security Instrument whether or not this Security h~st,-umcut is specifically referenced. If more than one person signs this Security Instrument, each Mortgagor agrees that this Security Instrument will secure all furore advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one or mole Mortgagor and others. All future adwulces and other future obligations are secured by this Security Instrmnent even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Inslrument. Nothing in this Security Instrument shall constitute a commitlneul to make additional or future loans or advances in any amount. Any such connnitmeut must be agreed to in a separate writing. All other obligatioDs Mortgagor owes to I.euder, which may later arise, to the extent not prohibited by law, including. bnt not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. ALL additional snnls advanced and expenses incuned by Lender for iDsuring, preserviug or otherwise protecting Ihe Property and its value and any other sums advanced, and expenses incurred by Lender under the terms of this Security Instrument. WYOMING- UOME EQUITY I~INE OF CREDIT MORTGAGE (NOT FOR FIMNA. FIILMC, FhA OR VA USE) DDS-WIIM 0 _74 In the event that Lender fails to provide any necessary nolicc of tile right of rescissiou with respect to any additional indebtedness secured under paragraph B of this Section, l.cnder waives any subsequent security imerest in the Mortgagor's principal dwelling that is created by this SecuriD, lnstru,oent (but does Hot waive tile security mte,'est RIr the debts referenced in paragraph A of this Sectiou). MORTGAGE COVENANTS. Mortgagor agrees that the covenants iH this section are material obligations under the Secured Debt and tl~is Security Instrument. If Mortgagor breaches any coveoant in this' section, Lender may refuse to make addilional extensions of credit and reduce the credit limit. By not exercising either remedy on Mortgagor's breach, [,coder does not waive Lender's right to later consider the event a breach if it happens again. Payments. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with tile re,ills of the Secured Debt and this Security Instrument. Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encnmbrance on the Property, i¥1ol'lgagor agrees to make all payments when due and to perform or comply with all covenants. Mortgagor also agrees not to allow any modification or extension of, ~tor to request any fi~mre advances uqder any note or agreement secured by the lien docmncnt without Lender's prior wrinen al)proval. Clainrs Against Title. Mortgagor will pay all taxes, assessments, liens, cncmnbra,lces, lease payn'teuts, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor 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 againsl any claims that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may bare against p;ntics who supply labor o,' materials to maintain (ir inq)rove the Property. Property Condition, Alterations and Inspection. Mortgagor will keep thc Property il't good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow ;n,y waste, impairment, ot- delerioration of Ihe l'¥opv, rty. Mortgagor agrees that tile nature of the occupancy and use will not subslautially thai,ge without Lender's prior writlen consent. Mortgagor will not permit any change itl arty license, restrictive covenant or easement without I.cnder's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims and aclions against Mortgagor, and ot' auy loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter tile Property Property. Lender shall give Mortgagor notice at tbe time of or belt/re an iltspectiou specilS, iug a reasonallle pulpose li)r the inspection. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will itl ilo wily rely on Lender's inspection. Authority to Perform. If Mortgagor fails to perform any duty or any of the covenants contaiHed in this Sectt,'ity Instrunle,tt, Lender may, without notice, perform or cause them to be pertbrmed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for pertbrmance, l_cndcr's right to perl;.)rm fi)r Mortgagor shall not create an obligation to perlbrm, and Lender's thilure to perform will trot preclude Lender from exercising any of Leoder's other ~igllts under the law or this Security Instrument. Leaseholds; Condominiums; Planned Unit Developments. Mortgagor agrees to comply If with tile provisioqs of any lease if this Security Instrument is on a leasehold. The Property includes a unit ill a coudolninium or a planned unit deve opine,ri, Mortgagor will perIbrm all of Mortgagor's duties uuder the covenants, by-laws, or regulations of tile condomilliuln or planned unit development. Condemnation. Mortgagor will give Lender prompt notice of any pemlmg or threatened actiou, by private or public entities to purchase or take any or all, of the Property through condemnation, eminent domain, or ally other means. Morlgagor authorizes Lender to intervene in Mortgagor's nanle in any of the above described aClions or claims, Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a condemuaiion or other taking of all or any pall of tile Property. Such proceeds shall be considered payments and will be applied as provided in this Se.curtly Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, seculily agreement or other lien docume,~t. Insurance. Mortgagor shall keep Property insured against loss by fire, Ilood, theft and other haza,'ds and risks reasonably associated with tile Property due to its type and location. This insu,'ancc shall be maintained itt the amounts and for die periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Mortgagor subject lo l.ender's a approval, which shall not be unreasonably withheld. If Mortgagor lhils to ,naimain the coverage described above, l~eHder lnay, at Lender's option, obtain coverage to protect Lender's rights in tile Property according to the terms of this Security lnstrunmnt. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" a,~d, where applicable, "loss payee clause" Mortgagor shall immediately notify l.cudcr of cancellation or terminatiou of the insurance. Lender shall have the. right to bold the policies and renewals. If Lender ~cquires, Mortgagor Sllall immediately give to l.ender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance car,-ict- and Lender. Lender may make proof of toss if ltot made immediately by Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be apl}lied to the restoration or repair of tile Property or to the Secured Debt, whether or not then due, at Lender's option. Any applicaliOH of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the anlot;nt t}l' any payment. Any excess will be paid to tile Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting Ii-om damage to the Property belbre the acquisition shall pass to Lender to thc extent of: tbe Secured Debt immediately belbre acqnisition. Financial Reports and Additional Doer,merits. Mortgagor will provide to l.ende,- upon request, any financial staten-leto or information Lender may deem reasonably necessary. Mortgagor ag,'ces It) sign, deliver, and iile any additional docunlerus or WYOMING HOME EQUITY LINE OF CREDIT IvlORTGAGE (NOT FOR FMNA, FHCMC, FHA OR VA USI:0 DDS-I, VI1M o o osa 01 7 certifications that Lender may consider necessary to perfect, continue, ;lttcl preserve Mortgagor's obligalious under Lhis Security Instrument and Lender's lieu status oil the Property. DUE ON SALE. Lender ntay, at its'option, declare the entire balance t:il' thc Secured Debt to be inunediaLely due and payable upon the creation of, or contract for the creation of, a transtkr or salt of thc Property. This right is subject to thc restrictions imposed by federal law (12 C.F.R. 591), as applicable. 7. DEFAULT. Mortgagor will be in default it' any of the following occur: Fraud. Any Consumer Borrower engages io fraud or material misrepresentatkm ill connection wi~h thc Secured Debt that is all open end holne equity plan. Payments. Any Consumer Borrower on any Secured Debt Ihat is an opc,t~end borne equity plan lhils to make a paynlent When due. Property. Any action or inaction by the Borrower or Mortgagor occuls that advcl-sely affects the Pl'operty or Lender's rights ill the Property. This includes, but is not lhnited to, the tbllowing: (at iMortgagor lhils 1o maintain required insuraltce on lite Property; (bt Mortgagor transl~ers the Property; (ct Mortgagor colmnits Wasle or otherwise destructively uses or fitils to inaintaiu the Property such that the action or inaction adversely affi:cts Lender's scorn'try; (d) Mortgagor fails to pay taxes oil the Property or otherwise fails to act and thereby causes a lien to be filed against thc Property that is SClfiOL to the tie, of this Security Instrument; (et a sole Mortgagor dies; (0 if more than one Mortgagor, any Mortgagor dies and Lender's security is adversely affected; (g) the Property is taken through eminent dolnain; (hi a jutlglnt:nt is filed against Mortgagor and subjects Morlgagor and tbe Property to action that adversely afl~cts Lender's interest; or (it ~, prior ficlibolder forecloses ou the Property aud as a result, Lender's interest is adversely affected. Executive Officers. Any Borrower is an executive officer of Lender' tit au afliliate and such Borrower heroines indebted to Lender or another lender in an aggregate amount greater than the amount pci'llfilted under federal laws aod regulations. REMEDIES ON DEFAULT. In addition to any other remedy available tnldel~ tile ter,ns of this Security h~strumcut, Lcudcr may accelerate the Secured Debt and t-breclose this Security hLstt-tnnen! iu a manner provided hy law it' Mortgagor is in default. Iii some instances, federal and state law will require Lender to provide Mortgagor with notice of lhe ,'ight to cure, or other notices and may establish time schedules for tbreclosure actions. At the option of tile Lender, all or any part of tile agreed fees ami charges, accrued iuterest and principal shall become immediately due and payable, after giving notice if required by law, uptm the occur,'ence of a default or anytiutc therealier. Lender shall be entitled to, without limitation, tbe power to sell tile Prol)ctty. The acceptance by Lender of any sum in payment or partial payment tm the Secured Debt after the balance is dtle or is accelerated or after foreclosure proceedings are filed shall not constiLutc a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's dclhuh, Lender does not waive Lender's right to later consider the event a dethuh if it happens agaiu. EXPENSES; ADVANCES ON COVENANTS; ATTOBNEYS' FEES; COLIA~CTION COSTS. If Mortgagor breaches any covenant in this Security Instrument, Mortgagor agrees to pay all cxpcn:~cs I.cnder incurs in pcrlbrruiug such covenants or protecting its security interest in the Property. Such expenses include, buL are not lmfited to, ices incurred fi-~r iuspectmg, preserving, or oLherwise protecting the Property and Lender's security inlelCSt. These expenses are payable oil demaud and will bear interest fi'om tile date of payment uutil paid in hLll at the highest rate o1: interest in etlkct as l)i'ovided in the terms of Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in collecting, enforcing cit' protecting Leuder's rights and rentedies under this Security Instrument. This amount may include, but is not limited io, L'easouable attorneys' fees, court costs, and other legal expenses. This amount docs nm include attorneys' ti~es Ibr a salaried employee of the Lender. To tile extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay thc reasonable am)rncys' I'd:es Lender incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under tile Bankruptcy Code. This Secority lnstrmnent shall remain in effect until released. Mortgagor agrees to pay for arty recordation costs of such release. 10. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) EnvirolmLental Law means, without limitation, the Comprehensive Enviromnental Response, Compensatioll and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or iuterpretive letters concenling the public health, safety, welfare, enviromnent o,- a hazardt~tls substance; and (2) llazardous Substance menus any toxic, radioactive or hazardous material, waste, pollutant or coutaminaut which has characteristics which rrndcr the substance dangerous or potentially dangerous to the public health, sakqy, welfare or environmeut. The lerln includes, wiLbllUt limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substauce' under any Enviromnental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing tt~ l.clldCi-, uo lIazardous Substance is or will he located, stored or released oil or iii tile Property. This restriction does not al)ply to small quantities of llazardous Substances that are generally recognized to be appropriate for the nonual use and mairltenalme of the Property. B. Except as previously disclosed and acknowledged iii wriling to l.elLder, Mortgagor and every reliant l-lave been, are, and shall remain ill full conlpliailce with any applicable Envil'tmll~Cntal Law. Mortgagor shall immediately notify Lender if a release or thrcalcned ,'elease of a Ilazardous Substance occurs under or about the Property or there is a violation of any l!nvirtiHmental Law concernirlg the Property. In such an event, Mortgagor shall take all necessary remedial action in accm dance with any Environmental I.aw. WYOMING HOME EQUITY LINE OF CREDIT MORTGAGE (NOT FOR FMNA, F}ILMC. FHA OR VA USlit DDS-WIIM 090205 1 D. Mortgagor shall immediately notify Lender in writing as soon ;is Mortgagor has reason to believe Ibere is any peudiug or threatened iuvestigation, claim, or proceeding relating lO thc release or threatened release of auy Ilazardous Substance or lite violation of any Enviromnentat kaw. 11. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided iu a separate agreemeHt, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 12. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are jOiHt and individual. If Mortgagor signs this ScctHity Instrulnent but does not sign an evidence of dcbl, Mortgagor does so only to mortgage. Mortgagor's interest in the Pruperty to secure paymeHt of the Secured Debt aud Mortgagor does not agree trl, be personally liable on the Secured Dcbl. 11: this Security [ustrmnent secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may in'event Lender fi'om bringing auy actiou or clai,n against Mortgagor or any party indebted under this obligation. These rights may include, I)u~ are not limiled to, any auti-deficieocy or one-action laws. The duties and benefits of this Security lnstrunmln shall brad and benefit the successors aud assigus of Mortgagor and Lender. 13. SEVERABIL1TY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security [ustrument may not be amended or modified by oral agreement. Any section in this Security lnstrunlent, attachmeuts, or ally agrcclnent related to the Secm'ed Debt that conflicts with applicable law will not bc cf IL-clive, UHIess that law expressly ok implicdly pernlitS the variations by written agreement. If any section of this Security Iustrumcut cannot be enlbrced according to its terms, that section will be severed and will not affect the enlbrceability of the relnailkler of tMs Security histrument. Wlleuever used, singular shall include the plural and the plural the singular. The captions ami headings of the sections of dds Security lltstrmnent are fbr convenience only and are not to be used to interpret or define thc tcnns of this Security h'tstrmllent. Tm~e is of the essetice m this Security lustrument. 14. 15. 16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it/2r by mailing it by fit'st class mail to tile appropriate party's address on page 1 of this Security Instrmnent, of It) itu), other address designaled itl writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. WAIVERS. Except to tile extent prohibited by law, Mortgagor waives any right regarding the marshalling of lieus and assets and all homestead exemption rights relating to the Property. LINE OF CREDIT. The Secured Debt includes a revolving line of c~cdit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 17. 18. APPLICABLE, LAW. This Security Instrument is governed by the laws as agreed to in the Secured Deht, except to tile extent required by the laws of the jurisdiction where the Property is located, alkt applicable lkdcral laws and regulations. RIDERS. The covenants and agreements of each of tile riders Cllecked below adc incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] [--] Assigmnent of Leases and Rents [-'-] Other 19. J----J ADDITIONAL TERMS. SIGNATURES: By signing below Mortgagor agrees [o the terms and coveuams contained in this Securily lnstrunlelit arid in any attachments. Mortgagor, also ackuowledges receipt of a copy of this Secm'ity lusa umcut oo the date stated on page 1 (Signature) Donald C. Judy A. Baillie ACKNOWLEDGMENT: (Individual) STATE OF WYOMING , COUNTY OF LINCOLN }SS. (Date) Thismstrunrentwasacknowledgedbe~remethis 10TH dayof AUGUST, 2004 By Donald C. Baillie AND Judy A. Baillie, HUSBAND A/~D WIFE, RIGHT OF SURVIVORSHIP Mycommissionexpires: AS JOINT TENANTS WITH (Seal) Notary Publif WYOMING- HOME EQUITY LINE OF CREDIT MORTGAGE (NOT FOR ;MNA, FttLMC FttA OR VA USE) DI)S-I, VIIM )1:4