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Home My WebLink About90288790288'/ RECEIVED LINOOLN 0OUNTY CLERK When Recorded Mail To: SRI MORTGAGE 100 BUSH STREET SUITE 1650 SAN FRANCISCO, CA 94104 04 serv #:11038045 MORTGAGE THIS MORTGAGE is made this 1st DARIEN E MOBERLY day of September, MOBEP. LY Loan Number: MIN: 100136300110380457 2004 , between the Mortgagor, (herein "Borrower"), and the Mortgagee, MERS. "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.SRI is a corporation organized and existing under the laws of CALIFORNIA 100 BUSH ST-STE 1650 SAN FRANCISCO, CA 94104 (herein "Lender"). , whose address is WHEREAS, Borrower is indebted to Lender in the Principal sum of U.S. $ 40,800.00 which indebtedness is evidenced by Borrower's note dated September 1, 2004 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable on September 1, 2019 ; TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mortgage; and the performance of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described properly located in the County of LINCOLN State of Wyoming: LOT 62 OF THE THREE 'RIVERS MEADows ESTATES, SUBDIVISION B, LINCLON COUNTY, WYOMING AS DESVRIBED ON THE OFFICAL PLAT THEREOF. I WYOMING - SECOND MORTGAGE 1/80 FNMA/FHLMC UNIFORM { INSTRUMENT WITH MERS DOCU?WYI Page I of 7 Form 3851 DOCU7WY1 .VTX 10/21/2002 11038045 which has the address of ALPINE, [city] 429 MEADOWS DRIVE, [Street] Wyoming 83128 [Zip Code] ,, 0433 11038045 (herein "Property Address"); TOGETHER with all the improvements now 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 the foregoing, together with said property (or the leasehold estate if this Mortgage is on a leasehold) are hereinafter referred to as the "Property." Borrower understands and agrees that MERS holds only legal title to the interest granted to Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interest, including, but not limited :o, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, reieasing and canceling this Security Instrument. Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower covenants that Borrower warrants and will defend generally :he title to the Property against all claims and demands, subject to encumbrances of record. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness evidenced by the Note and late charges as provided in the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments of prLncipal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned unit development assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior mortgage or deed of trust if such a holder is an institutional lender. If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guara'nteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law r~ermits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the put-pose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the ProPerty is sold or the Property '~s otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Mortgage. 3. Application of Payments. Unless appl!cabie law provides otherwise, all payments received by Lender under the Note and paragraphs'l and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note. DOCU7W~ : '' DOCU7WY /2002 11038045 4. Prior Mortgages and Deeds of Trust; Charges; Liens. ~: ~ .:~,': ;'X~ ~-.: ;;~:- '..' '~ ..-': ',::~v~' ,<- ;:t`~ ~: ;;~.'~, .~ · 0'4j4 11038045 Bo~ower shall perfo~ all of Bo~ower's obligations under any mortgage, deed of trust or other security agreement with a lien which has'.pri0rity over this Mortgage, including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, assessments, and 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 the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage"/and such Other hazards as Lender may require and in such amounts and for such periods as Lender may require. ~ The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form accePtable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly 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 Lender 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 restoration or repair of the Property or to the sums secured by this Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of an)' lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and constituent documents. 7. Protection 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 in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorney's fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition 0f making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting paYments thereof. Nothing contained in this paragraph 7 shall require Lender to incm: any expense or take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The. proceeds of any award or claim for damages, direct or consequential, in conne.ct!on with any condemnation or other taking of the Property, or paa thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, sqbject to the' terms of an), 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 \Vaiver. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to an'y successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. Page 3 of 7 Form 3851 ~o3oo45 ~o3~o45 11. Successors and Assigns Bound; 3cin: az, f Sever&~ L.",zbi:ity; Co-s!gne."s. The covenants and agreements herein contained shall bind, and the rights here'under shall inure to, (he respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph !6 hereof. Ail covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs ibis Mortgage, but does no~. execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey thaZ Borrower's interest in the Pr~pe~wy to Lender under the terms of this Mortgage, (b) is not personally liable on the Note or ~nder this Mortgage, and ~c~ agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this Mortgage or the Note, without that Borrower's consent and without, releasing that Borrower or modifying this Mortgage as to that Borrower's interest in the ProperW. 12. Notice. Except for any notice required under applicable law tc be given in another manner, (a) any notice to Borrower provided for in this Mortgage shali be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address e: at such :Xher address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shaii be given by certified mail to Lender's address stated herein or to such other address as Lender may designae.by notice to Borrower as provided herein. Any notice provided for in this ~ortgage shall be deemed tO ha. ~ ~ee~ g~ven to Borrower or Lender when given in the manner designated herein. - ' 13. Governing Law; Severability. The state and locar. !ews applicable to th!s Mortgage shall be the laws of the jurisdiction in which the Property is ;ocated. ?he fc:egr'.ing sentence shall not lim.;t the applicability of Federal law to this Mortgage. In the event the.'; any provision or clause of this Mcrtgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Mortgage and the Note are declared to be severable. As used herein, "costs", "expenses" and "a~emeys' fees" include all sums to the extent not prohibited by applicable law or limited herein. 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with improvements made to the Property. 16. Transfer of the Property or a Beneficial Interes~ in Borrower. If ail or any part of the Property or any interest in it is sold or transferred ~.or ifa beneficial interest in Borrower is sold o: transferred and Borrower is not a natural person) without Lender's prior written c. onsent, Lender may, at its option, require immediate payment in full of all sums secured by this Mortgage. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage. If Lender exercises this option,.Lender shall give Borro~ver notice of acceleration. The notice Shall provide a period of not less than 30 days fl'.om the date the noSce is delivered or mailed within which Borrower must pay all sums secured by this Mortgage. if Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this M~rtgage without further notice or demand on Borrower. NON-UNIFORM CONVENANTS. Bot~ov~er'and Lenddr further Covenant an~t agree as follows: 17. Acceleration; Remedies. Except ~s a~re~.2,, upon B~rrower's breach of any covenant or agreement of Borrower in ~hii 1vicr~gage, inc!.'.:'ding the covenants tc pay when due any sums secured by this Mortgage, Lender prior .to acce:eratior, shall givi~ 'not!ce to Barrower as provided in paragraph 10 hereof specifying: (!) the [~reach; (2} the action require5 ~:e cure such b/'eaeh; (3) a date, not less than 10 days from the date the notice is mailed ;e BorroWer, by which such breach must be cured; and (4) that failure to cure such breach on or. before }he dale specified'in the notice may result in acceleration of the sums secured by this Mortgage. The ~o{ice shall furlhe: inform Borrower of '~he righ2 ,~o reinstate after acceleration and the right to bring e c.~ur; actic, r_ tc assert the nonexistence of a d~faul~ or any other defense of Borrower to accelera!ion and sale. J ;he breath ~' ~, ,.9: chred on or befo-~ the dare specified in the notice, Lender at Lender's optio, n may de:late zi.l 'of the sum: secured b)' this l~dortgage ic. I:e immediately due and payable without further demand and ..-ney_ !n-~o2e ~ke power of sale and a~y other remedies permitted by applicable law. Lender shall be entitled .to co'i~.eet al.'.' reasdnable costs and expenses incurrec} in pursuing the remedies provided in this paragraph 17,. includirg, burn'ot limited to, reasonable attorneys' fees. DOCU7WY4 : Page 4 of 7' DOCUr}P/'4. VTX 10/21/2002 Form 3851 1~.0313045 1~038045 If Lender invokes the power of sale, Lender shall give notice of intent of foreclose to Borrower and to the person in possession of the Property, if different, in accordance with applicable law. Lender shall mail a copy ora notice of the sale to Borrower in the manner provided in paragraph 12 hereof. Lender shall publish the notice of sale and the Property shall be sold in the manner prescribed by applicable law. Lender or Lender's designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to ~all reasonable costs and expense of the sale, including, but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this Mortgage; and' (c) the excess, if any, to the person or persons legally entitled thereto. 18. Borrower's Right to Reinstate. NotWithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to the earlier to occur of (i) the fifth day before sale of the Property pursuant to the power of sale contained in this Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due under this Mortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' 'fees; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligation secured hereby shall remain in full force and effect as if no acceleration had occurred. 19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration under paragraph 17 hereof or abandonment of the Property, and at any time prior to the expiration of any period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied ftrst to payment of the costs of management of the'Property and-collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Mortgage. Lender and the receiver shall be liable to account only' for those rents actually received. 20. Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage without charge to Borrower. Borrower shall pay all costs of recordation, if any. 21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property. REFERENCE IS HEREBY MADE TO THE RIDER(S) ATTACHED HERETO AND MADE A PART HEREOF FOR ALL PURPOSES: [] Planned Unit Development Rider [] 1-4 Family Rider [] Second Home'Rider [] Condominium Rider [] Other(s)[Specify] Balloon R'ider REQUEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SUPERIOR MORTGAGES OR DEEDS OF TRUST Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has priority over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any default under the superior encumbrance and of any sale or other foreclosure action. DOCUTW¥5 Page 5 of 7 Form 3851 DOCUT¥/Y5 .VTX 10/21/2002 11038045 /I'N"WITN~.SS WHEREOF~owe~?~s-e_xecuted thi3 Mertgage. .""--.... ~' ,,' ~ - --------'=mrrrower - DARIEN-'lg 1,,I(~I'~RL~'--- D~e - 11038045 ~)00CU7W¥6 Page 6 of 7 cu7wY 6. VTX 10/21./2002 : ' . ' ~:;!: Form 3851 11038045 11038045 [Space Below This Line For Acknowledgment] ST*TE Or ~O'A0 .X ~ ~ COUNTY OF -~ ~"'~ O ~ The foregoing instrument was acknowledged before me by ~'~ this ~ day of ~, Wimess my hand and official seal. My Commission Exp~es: ~:~ ~% - %_0 ~ ~ DOCU7WY7 Page 7 of 7 Form 3851 DOCU5WY7 .VTX 10/21/2002 ,, Thclandre~ to M ~isCommitmcn~isd~ibedas ~llows: Lot 62 of the Three Rivers Meadows Estates, Subdivision B, Lincoln County, Wyomin9 as described on the official plat thereof. · . 0440 [Space Above This Line For Recording Data Serv #: 11038045 BALLOON RIDER MOBEI~LY Loan #: 11038045 MIN: 100136300110380457 THIS BALLOON RIDER is made this 1st day of September, 2004, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Note (the "Note") to SRI (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 429 MEADOWS DRIVE ALPINE, WY 83128 [Property Address] The interest rate stated on the Note is called the "Note Rate". The date of the Note is called the "Note Date". I understand the Lender may transfer the Note, Security Instrument and this Rider. The Lender or anyone who takes the Note, the Security Instrument and this Rider by transfer and who is entitled to receive payments under the Note is called the "Note Holder". ADDITIONAL COVENANTS. In addition to the covenants and agreements in the Security Instrument, Borrower and Lender further covenant and agree as follows (despite anything to the contrary contained in the Security Instrument or the Note): THIS LOAN IS PAYABLE IN FULL AT MATURITY. YOU MUST REPAY THE ENTIRE PRINCIPAL BALANCE OF THE LOAN AND UNPAID INTEREST THEN DUE. THE LENDER IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME. YOU WILL, THEREFORE, BE REQUIRED TO MAKE PAYMENT QUT OF OTHER ASSETS THAT YOU MAY OWN, OR YOU WILL HAVE TO FIND A LENDER, WHICH MAY BE THE LENDER YOU HAVE THIS LOAN WITH, WILLING TO LEND YOU THE MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HAVE TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW LOAN EVEN IF YOU OBTAIN REFINANCING FROM THE SAME LENDER. BALLOON RIDER-MULTISTATE (01/97} DOC UB RH I DOCUBRH 1 .VTX 07/23/2004 Page I of 2 0D0;488'? 11038045 //"B3~ -~.G BELOW, Borrower accepts ~1 agrees io the terms and covenants ll0aa04S l~--~ ............ .~.....~ ~..~~/~/_~- J'"'~:55~ {//. contained in this Balloon Rider. ~ orr-6-~er - DARIEN E MOBERLY - Date -. / BALLOON RIDER-.MULTISTATE (01/97) DOCUBRH2 DOC~/~2 .VTX 07/23/2004 Page 2 of 2