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HomeMy WebLinkAbout902109Loan No: 120092824 RECEIVED ._bOqJL,,t' ~ ~' COUHTY CLEF(I< = , 902109 ~-'-~-~ i-.~: !:. _':"-3: IndyMac Bank, F.S.B. c/o Document Management 3465 E. Foothill Blvd. Pasadena, CA 91107 State of Wyoming RETURN ~ TmLE DIRECT 2677 COUNTY RD. 10 MOUNDS VIEW, MN 55112 MORTGAGE 565, Space Above This Line For Recording Data (With Future Advance Clause) DATE AND PARTIES. The date of this Mortgage (Security Instrument) is. ~cJLlSh .10,..2.00.4... and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: Doug L. Hartmann and Barbara A. Har~nann Husband and Wife As Tenants By The Entireties [--] If checked, refer to tim attached Addendum incorporated herein, Ibr additional Mortgagors, their signatures and acknowledgments. LENDER: IndyMac Bank, F.S.B., a federally chartered savings bank 155 North Lake Avenue Pasadena, CA 91101 CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is ackuowledged, anti to secure the Secured Debt (defined below) and Mm-tgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of salt, the following described propmxy: See Exhibit "A" attached hereto and rode a part hereof. A.P.N. # 21162330303300 3o The property is located in ............... Lincoln ............... at 1921 Berrg. Dr£ve (County) ................................................................... Keramrer ....... Wyoming ..... 8.3.1.01 ..... (Address) (City (ZIP Code) Together with all rights, easements, al)punenances, royalties, mineral rtghls, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and thture improvemcms, sn'uctures, fixtures, and replacements that may now, or at any ti~ne in the future, be part of the rea] estate described abc, c ~all referred to as "Prol)erty"). MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ ...... 15 ,.0Q0., .Q0 .................... . This linntatior~ of altlount does not include interest and other fees and c'harges validly made pursuant to this Security Instntment. Also, this I.mitation does not apply to advances made under the terms of this Security Instrument to protect Leuder's security and m perform any of the covenants contained in this Security Instrument. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incun'ed under the terms of all promissot7 note(s), contractl s L guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or subslimuons ('Yot~ must s~ec~icalty ident~ the debl(~9 secured and you should include the linal ma turi~ date of such debt(.~'L 1 ~oe~~n,,~_~y~ine of gr~. 9~9~ ,dat~ .Au~st 10, 2004 executed ~y ~ ~..9~!~)n ~ the ~E ox ¢ID,UUU.OO aue and ~y~le ~n f~l on sepr~r lb, 2U24. WYOMING - HOME EQUITY LINE OF CREDIT MORTGAGE {NOT FORFNMA. FHLMC FHA (JR VA USE/ (~) 1994 Bankers Systems. Inc,, St. Cloucl, MN Form OCP-REMTG-WY 101719~ (~1,~C465(WY) (99m).m VMP MORTGAGE FORMS-[800)521-7291 Loan No: 120092824 0,3 0 C) B. 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 Mmtgagor in fiwor of Lende,' executed after this Security Instrument whether or not this Secnrity l~.strutncnt is specifically referenced. If more than one person signs this Security Instrument, each Mortgagor agrees dm, this Security Instrument will secure all futm'e advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future advances and other future oblig~ltions are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other fi~ture obligations are secured as if made on the date of this Security Instrument. Nothing in this Security hmmnnent shall constitute a commitment to make additional or future loans or advances in any amount. Any such conm-fitment must be agreed to in a separate writing, C. All other obligations Mortgagor owes to Lender, which ,nay later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. D. All additional sums advanced and expenses incurred by Lender ibr insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expc,scs incurred by Lender under thc terms of this Security Instrument. In the event that Lender fails to provide any necessary notice of thc right of rescission with respect to any additional indebtedness secured under paragraph B of this Section, Lender waives any subsequent security interest in the Mortgagor's principal dwelling that is created by this Security lnstrulnent (but docs not waive the security interest for thc debts refi::renccd in paragraph A of this Section). 5. MORTGAGE COVENANTS. Mortgagor agrees that the covenants m this section are material obligations under the Secured Debt and tiffs Security Instrument. If Mortgagor breaches a,y covenant in this section, Lender may refuse to make additional extensions of credit and reduce the credit Ii,nit. By not exercising eithe,' remedy on Mortgagor's breach, Lender does not waive Lender's right to later consider the event a breach ii' it lmppens again. Payments. Mortgagor agrees that all 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, secnrity agreement or other lien document that created a prior security interest or encumbrance on the Property, Mt~rtgagor agrees to make all payments when due and to perform or comply with all covenants. Mortgagor also agrees not to ~dlow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document wi,bout Lender's prior written approval. Claims Against Title. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender i,ay require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mo,'tgagor's pay,nent. Mm~tgagor will defend title to the Property against any claims that would impair the lien of tiffs Secu,-ity l,strument, Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property, Property Condition, Alterations and Inspection. Mortgagor will kccp thc Propcxly in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior wrilten consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims and actions against Mortgagor, and of any loss or dmnage to the Property. Lender or Lender's agents may, at Lender's option, enter the Properly at any reasonable time for the purpose of respecting the Property. Lender shall give Mortgagor notice at the time of or bclbre an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for kcntlcr's benefit and Mortgagor will in no way rely on Lender's inspection. Authority to Perform. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in thct to sign Mortgagor's name or pay any amount necessary for performance. Lc~dcr's right to perform tbr Modgagor shall not create an obligation to perform, and Lender's failure to perform will not prcch~dc Lender from exercising any of Lender's other rights under the law or this Security Instrmnent Leaseholds; Condominiums; Planned Unit Developments. Mortgagor ~tgrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condolninimn or a planned unit development Mortgagor will perform all of Mortgagor's duties under the cove,re,ts, by-laws, or regulations of ti-lc condominium or planned unit development. Condemnation. Mortgagor will give Lender prompt notice of any pc~di,g o,' threatened action, by private or public entities to purchase or take any or all of fl~e Property through condemnatio,, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the ubovc described actions or clai~ns. Mortgagor assigns to Lender the proceeds of any award or claim for datnages connected with a condenmation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will be :lpl31icd as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. Insurance. Mortgagor shall keep ProPerty insured against loss by Ih'c, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insura.cc shall be maintained m the amounts and lb,: the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be um'easonably withheld. If Mortgagor fulls to mamtai,~ the coverage described above, Lender ,nay, at Lender's option, obtain coverage to protect Lender's rights ill thc l'ropm'ty according to the terms of this Security Instrument All insurance policies and renewals shall be acceptable to Lender arid shall include a standard "nmrtgage clanse" and, where applicable, "loss payee clause." Mortgagor shall immediately notify kc,ldcr of cancellation or temfination of' the insurance. Lender shall have the right to hold the policies and renewals. If kc.der requires, Mortgagor shall immediately give to Lender all receipts of paid premimns and renewal notices. Upon lo.~s, /Vlortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be apl)lied to the restoration or repair of the Property or to the Seem'ed Debt, whether or not then due, at Lender's option. A~13.' application of proceeds to principal shall not (~®-C4§5(WY) Loan No: 120092824 extend or postpone the due date of the scheduled payment nor change II~e amount of any payment. Any excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor% right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to lmlder to the extent of the Secured Debl immediately betbre the acquisition. Financial Reports and Additional Documents. Mortgagor will provide to kender upon request, any financial slatement or information Lender may deem reasonably necessary, Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, contil'n~e, and preserve Mortgagor's obligations under this Security Instrument and Lender's lien status on the Property. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract fox' the creation of, a transl'cr or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. DEFAULT. Mortgagor will be in default if any of the following occur: Frand. Any Consumer Borrower engages in fi'aud or material misrel~,-escntation in connection with the Scooted Debt that is an open end home equity plan. Payments. Any Consumer Borrower on any Secured Debt that is an ~lgClq end liome equity phm fitils to make a payment when due. .Property. Any action or inaction by the Bon'ower or Mortgagor occm's that adversely affects the Prol)erty or Lender's rights m the Property. This includes, but is not limited to, the tbllowing: (a) Mortgagor fifils to maintain required insurance on the Property; (b) Mortgagor transfers the Property; (c) Mortgagor commits waste or otherwise destructively uses or fitils to maintain the Property such that the action or inaction adversely affects Lender's security; (d) Mortgagor fails to pay taxes on the Property or othmwvise fails to act and thereby causes a lien to bc liled ~tgainst the Propetqty that is senior to the lien of this Security Instrument; (e) a sole Mortgagor dies; (f) if more than one Mortgagor, any Mortgagor dies and Lender's security is adversely affected; (g) the Property is taken through eminent domain; (h) a judgment is filed against Mortgagor and subjects Mortgagor and the Property to action that adversely affects Lender's interest; or (i) a l)rior lienbolder forecloses on the Property and as a result, Lender's interest is adversely affected. Executive Officers. Any Borrower is an executive officer of Lender o,' an affiliate and such Borrower becomes indebted to Lender or another lender iii an aggregate amount greater than the atl~otmt permitted under federal laws and regulations. REMEDIES ON DEFAULT. In addition to any other reinedy ax'~lilable under the terms of this Security Instrument, Lender xnay accelerate the Secured Debt and foreclose this Security h~slrmnent iii a manner provided by law if Mortgagor is in det~ault. 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 tbreclost, rc ;tclions. At the option of the Lender, all or any part of the agreed fees and cb;~rges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon thc occurrence of a defimlt or anytime therealier. Lender shall be entitled to, without linfitation, the power to sell the th'ol)crty. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the bahmce is due or is accelerated or after tbreclosure proceedings are filed shall not constitule ~t waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgago,"s dcfimlt, Lender does not waive Lender's right to later consider the event a default if it happens again. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Mortgagor breaches any covenant in this Security Instrument, Mortgagor agrees to pay till CXl)C~ses Lender incurs iii pertbmfing such covenants or protecting its security interest in tile Property. Such expenses inch~dc, but are not limited to, Ices incurred for respecting, preserving, or othelwvise protecting the Property and Lender's security interest. These expenses are payable on demand and will bear interest fi'om the date of payment until paid iii full at the highcsl rate of interest in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender iii collecting, enforcing or protecting Lender's rights and remedies under this Security Instrun~cm. This amount may include, but is not limited to, reasonable attorneys' fees, court costs, and other legal expenses. This amount does not include attorneys' lees for a salm-ied employee of the Lender. To the extent permitted by the United States Banl,a'uptcy Code, Mortgagor agrees to pay thc reasonable attorneys' fees Lender incurs to collect the Secured Debt ~s awarded by any court exercising jurisdiction under the Balflcruptcy Code. This Security Instrument shall remain iii effect until released. Mortgagor agrees to pay ~br any recordation costs of such release. 10. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law ~neans, 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, regulations, ordinances, court orders, attorney general opinions or inteqgretive letters concerning the public health, safety, wclthre, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous ~atcrial waste, pollutant or contaminant which bas characteristics which render the substance dangerous or potentially dmigerous to the public health, safety, welthre or environment. The term includes, without limitation, any substances dclincd as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Mortgagor represents, 'warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to l_ender, no Hazardous Substance is or will be located, stored or released on or in the Property. This restrictitm dims not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate tbr il~c normal use arid n~aintenance of tile Property. B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are, and shall rmnain in full compliance with any applicable Enviromnental Law. C. Mortgagor shall immediately notify Lender if a release or tin'taloned release of a Hazardous Substance occurs under or about the Property or there is a violation Of any Enviromnental Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial action iii accordance with any Environmental Law. D. Mortgagor shall immediately notify Lender in writing as' soon ~s Mortgagor has reason to believe there is arty pending or tln'eatened investigation, ' claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environlnentat Law. 1994 Bankers Systerns. Inc., St. Cloud, MN Form OCP-REMTG-WY 10/7/99 (~®-C465(WY} 0:9021.0:9 Loan No: 120092824 11. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided m a s~parat~ ~g~m~m, Mortgago~ will not b~ required to pay to Lender ~nds for taxes and insm'ance in escrow. 12. JOINT AND INDIVIDUAL L~BILITY; CO-SIGNE~; SUCCESS()RS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Moflgagor signs this Security Instrument but does not sign an evidence of debt, Mo~gagor does so only to mortgage Mortgagor's interest m d~c Property to secure payment of the Secured Debt and Moffgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a gtmranty between Lender and Mo~gagor, Moffgagor agrees to waive any rights tlmt may prevent Lender ~om bringing any action or claim against Mortgagor or any pa~y indebted under the obligation. These rights ~nay include, but are not li[nited to, any anti-deficiency or one-action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 13. SE~BILITY; INTERP~TATION. This SecuriW Instrument is complete and ~lly integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in riffs Security Instrument, attachments, or any agreement related to the Secured Debt tbat conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any scclio, of this Security lnstnunent cannot be enfbrced according to its terms, that section will be severed and will not afl,ct thc en~brceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural tl~e singular. The captions and headings of the sections of this SecuriW Instrument are for convenience only and :trc not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrtm 14. NOTICE. Unless othm~ise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate pa~y's ad~-esS on page 1 of this Security Instrument, or to any other address designated in writing Notice to one mortgagor will be deemed to be notice to all modgagors. 15. WAIVE~. Except to the extent prohibited by law, Mo~gagor waives any right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property. 16. LINE OF CREDIT. The Secured Debt includes a revolving line of crccti~. Although the Seem'ed Debt may be reduced to a zero balance, this SecuriW Instrument will remain in eft~ct until released. 17. APPLICABLE LAW. This Security Instrument is governed by the hm,s as agreed to in the Secured Debt, except to extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations. 18. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supple~nent and amend the terms of this Security Instrument. [Check all applicable boxes] ~ Assignment of Leases and Rents [~ Other 19. [] ADDITIONAL TERMS. SIGNATURES: By signing below, Mortgagor agrees to the terms and covcnm~ts contained in this Security Instrument and in an~achments. Moilgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. [ g ) Dou9 L. Har~ann . (Date) (S~gnature) B~rb~r~ A. Hartman (Date) ACKNO~EDGMENT: (Not~ Public) Exhibit "A" Legal Description The following described real estate, situate in Lincoln County and State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State, to-wit: Lot 21 of Block 3 of the Lincoln Heights 5th Addition, Third Filing, to the City of Kemmerer, Lincoln County, Wyoming. Property Address: 1921 Berry Drive, Kemmerer, WY 83101 Property ID #: 21162330303300