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HomeMy WebLinkAbout904280 RECEIVED LINCOLN COUNTY CLERK This document prepared by: VINAY WORLIKAR (Name) Citibank P.O. Box 790017~ MS 221 St. Louis~ MO 63179 (Address) 90h280 MORTGAGE 0~ NOV - 2 Pti 1:3 h, J.FANNE ~",;' ~' THIS MORTGAGE is made this 10/12/2004 between the Mortgagor, I IEATH DIRK and CARRIE JENSEN~ HUSBAND AND WIFE~ (herein "Mortgagor"), and the Mortgagee. ('lTl BANK FEDERAL SAVINGS BANK, a corporation organized and existing under the laws of the United Slates, which has a home office of 11800 Spectrum Center Drive, Reston, VA 22090 (herein "Lender"). The "Borrower" m~mns the individual(s) who has(ve) signed the Fixed Rate Home Equity Loan Note (the "Note") of even date herewilh and in connection with this Mortgage. WHEREAS, Borrower is indebted to Lender in the princq}ul sum oF U.S. $. 23~000.00, which indebtedness is evidenced by Borrower's note dated 10/12/2004 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance o1' indebtedness, if not sooner paid, due and payable on 10/16/2024; TO SECURE to Lender the repayment of the indebtedness evidenced hr. th~ Note, with interest thereon; the payment of all other sums, with interest thereon, advanced in accord',mcc herewith to protect the security of this Mortgage; and the performance of the covenants and agreements of Murt~a~op herein contained, Mortgagor does hereby mortgage, grant and convey to Lender, together with the statutory power of sale, the following described property located in the County of LINCOLN, State of Wvomine: SEE ATTACHED LEGAL DEN('RIPTION which has the address of 213 EAST 3RD AVENUE~ AFTON~ WY TOGETHER with all the improvements now or hereafter erected on d~c propetty, an 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 thc Icasohold estate if this Mortgage is on a leasehold) are hereinafter referred to as the "Property." Mortgagor covenants that Mortgagor is lawfully seized of the estate hcrchy conveyed and has the right to mortgage, grant and convey the Property, and that the Property is unencumbered, c×cept for encumbrances of record. Mortgagor covenants that Mortgagor warrants and will defend gencr,tllb Ibc title to the Property against all claims and demands, subject to encumbrances of record. UNIFORM COVENANTS. Mortgagor mM I.cnder covenant and agree as follows: 1. PAYMENT OF PRINCIPAL AND INTEREST. Borrower shall pr.raptly pay when due the principal and interest indebtedness evidenced by the Note and late char~es as provided in tile Note. Integrated bOarl 27 Inwood Road JENSEN, HEATH D Rock9 Hill, C1 NB~-F-SI-702-WY ........... i '6f6 Revised 03/17/2004 JENSEN ACAPS: 104092102740000 ,/ 0.904; S0 Mortgage, continued 0539 c bank' 2. APPLICATION OF PAYMENTS. Unless applicable law provides t~thcm ise, all payments received by Lender shall be applied by Lender in any order it chooses. 3. PRIOR MORTGAGES AND DEEDS OF TRUST: CHARGES; I,II:NS. Mortgagor shall perform all of Mortgagor's obligations under any mortgage, deed oft-mst or other SeE-ut'iix i~greement with a lien which has priority over this Mortgage, including Mortgagor's covenants to make paymcm~ l/hen due. Mortgagor shall pay or cause to be paid all taxes, assessments and other charges, fines and impositions ~ttributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, ii' any. 4. HAZARD INSURANCE. Mortgagor shall keep the improvement nt~/~ existing or hereafter erected on the Property insured against loss by fin:e, hazards included within the term "cx~cnded coverage," and such other hazard as Lender may require and in such amounts and for such periods as Lcmlcr may require. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All instmmce 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 renewa[~ thereof, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which h:th priority over this Mortgage. In the event of loss, Mortgagor shall give prompt notice to the in~m'al~ce carrier and Lender. Lender may make proof of loss if not made promptly by Mortgagor. If Property is abandoned by Mortgagor, or if Mortgagor fails to i'cqxmd to Lender within 30 days from the date notice is mailed by Lender to Mortgagor that the insurance carrier t~fl'crs 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. 5. PRESERVATION AND MAINTENANCE OF PROPERTY: LEA_S!:! lQ!DS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Mortgagor 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 pmx isions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development, Mortgagor shall perform all of Mortgagor's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium o,- planned unit development, and constituent documents. 6. PROTECTION OF LENDER'S SECURITY. If Mortgagor fails to pcl'ftmn the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenccd l/hich materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice to Mortgagor, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan scorn'cd by this Mortgage, Mortgagor shall pay the premiums required to maintain such insurance in effect until su c h time as the requirement for such insurance terminates in accordance with Mortgagor's and Lender's written agreemcm or applicable law. Any amounts disbursed by Lender pursuant to this paragraph 6, wi~h interest thereon, at the Note rate, shall become additional indebtedness of Mortgagor secured by this Mortgage. Il lilt:ss Mortgagor and Lender agree to other terms of payment, such amounts shall be payable upon notice from I,cmter to Mortgagor requesting payment thereOf. Nothing contained in this paragraph 6 shall require Lender to incur any expense or take any action hereunder. 7. INSPECTION. Lender may make or cause to be made reasonable emrJcs upon and inspections of the Property, provided that Lender shall give Mortgagor notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. NBS-F-SI-702-WY 2 of 6 JENSEN Revised 03/17/2004 ACAPS: 104092102740000 Mortgage, continued o c bank" 8. CONDEMNATION The proceeds of any award or claim for dam%,,cs, direct or consequential, in connection with any condemnation or other taking of the property, or part thercol', or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms o I' ',t~v mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. 9. MORTGAGOR NOT RELEASED; FORBEARANCE BY LENI)I I~ NOT A WAIVER. Extension of the time for payment or modification of amortization of the sums secured by d~is Mortgage granted by Lender to any successor in interest of Mortgagor shall not operate to release, in an3 re:tuner, the liability of the original Mortgagor and Mortgagor's successors in interest. Lender shall not be required t. c~mm~ence proceedings against such successor or refuse to extend time for payment or otherwise modif3, am{~rt i/ation o f the sums secured by this Mortgage by reason of any demand made by the original Mortgagor ~md ~,l~ t'tgagor's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder, ~r .d~crwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remeth. 10. SUCCESSORS AND ASSIGNS BOUND; JOINT AND SEVER..\I I.IABILITY; CO-SIGNERS. The covenants and agreements herein contained shall bind, and the rights hcrctmder shall inure to, the respective successors and assigns of Lender and Mortgagor, subject to the provisions of paragraph 15 hereofi All covenants and agreements of Mortgagor shall be joint and several. Any Mortgw~,. who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Mortgagor's interest in the Property to Lender under the terms of this Mortgage, (b) is not person:~l I~ liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Mortgagor hereunder may a~, c~' lo extend, modify, forbear, or make any other accommodations with regard to the terms of this Mortgage or thc N,~l ¢ w i th aut that Mortgagor's consent and without releasing that Mortgagor or modifying this Mortgage as to thztl N lortgagor's interest in the Property. 11. NOTICE. Except for any notice required under applicable law to hc g~'ven in another manner, (a) any notice to Mortgagor provided for in this Mortgage shall be given by delivering it t~r by mailing such notice by first-class postage paid, addressed to Mortgagor at the Property Address or at such ~thcr address as Mortgagor may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may designate b.~ notice to Mortgagor as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Mortgagor or Lender when given in the manner designated herein. 12. GOVERNING LAW; SEVERABILITY. The state and local lax~, ~q~plicable to this Mortgage shall be the laws of California except where pre~erupted or allowed by Federal law, in xx h ich case Federal law will apply, except to the extent that the procedural laws of the state where the Property is Ice',trod are applicable and not pre-empted by Federal law. In the event that any provision or clause of this Mortgage ~r 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 ami d~e Note are declared to be severable. As used herein, "costs," "expenses," and "attorneys' fees" include all sums h, the extent not prohibited by applicable law or limited herein. 13. MORTGAGOR'S COPY. Mortgagor shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 14. REHABILITATION LOAN AGREF. MENT. Mortgagor shall fid li Il all o f Mortgagor's obligations under any home rehabilitation, improvement, repair, or other loan agreement wh ich Mortgagor enters into with Lender. Lender, at Lender's option, may require Mortgagor to execute and d elixc r to l~ender, in a form acceptable to Lender, an assigmnent of any rights, claims or defenses which Mortgagor may h~vc against parties who supply labor, materials or services in connection with improvements made to the Property. NBS-F-SI-702-WY 3 of 6 JENSEN Revised 03/17/2004 ACAPS: 104092102740000 Mortgage, continued O 04aSO citibank' 15 DUE ON TRANSFER PROVISION - TRANSFER OF THE Piti )PIiRTY If all or any part of the Property or any interest in it is sold or transferred (or ifa beneficial interest in tX,l,,r~2~gor is sold 'or transferred and Mortgagor is not a natural person) without Lender's prior written consent, Lender mbr, at l.ender's option, require immediate payment in full of all sums secured by this Mortgage. However, Lender shall not exercise this option if the exercise is prohibited by applicable law as of the date of this Mortgage. If Leader exercises this option, Lender shall give Mortgagor notice of acceleration. The notice shall provide a period t~f m)I less than 30 days from the date the notice is delivered or mailed within which Mortgagor must pay all sums sccm'cd by this Mortgage. If these sums are not paid prior to the expkation of this period, Lender may invoke any remedies permitted by this Mortgage without further notice or demand on Mortgagor. NON-UNIFORM COVENANTS. Mortgagor and l_cmlcr further covenant and agree as follows: 16. ACCELERATION: REMEDIES. EXCEPT AS PROVIDED I N I',.\ R A GRAPH 15 HEREOF, UPON MORTGAGOR'S BREACH OF ANY COVENANT OR AGREEIvlI.~N 1 OF MORTGAGOR 1N THIS MORTGAGE, INCLUDING THE COVENANTS TO PAY WHEN 1)1 I! ANY SUMS SECURED BY THIS MORTGAGE, LENDER PRIOR TO ACCELERATION SHALL G IV I~', NOTICE TO MORTGAGOR AS PROVIDED IN PARAGRAPH 1 1 HEREOF SPECIFYING: (1) TI I1- I~REACH; (2) THE ACTION REQUIRED TO CURE SUCH BREACH; (3) A DATE, NOT LESS THAN 10 I)A Y.~ FROM THE DATE THE NOTICE IS MAILED TO MORTGAGOR, BY WHICH SUCH BREACH MUS'I I~1. C[JRED; AND (4) THAT FAILURE TO CURE SUCH BREACH ON OR BEFORE THE DATE SPECIFIED IN I'l IE NOTICE MAY RESULT IN ACCELERATION OF THE SUMS SECURED BY THIS MORTG/\ ( i 1-. FO R ECLOSURE BY JUDICIAL PROCEEDING OR BY ADVERTISEMENT, EXERCISE OF THE 1'( )WER OF SALE, AND SALE OF THE PROPERTY. THE NOTICE SHALL FURTHER INFORM MORT(; \( ;OR OF THE RIGHT TO REINSTATE AFTER ACCELERATION AND THE RIGHT TO ASSERT IN Till t'()R ECLOSURE PROCEEDING THE NONEXISTENCE OF A DEFAULT OR ANY OTHER DEFENSE ( )l MORTGAGOR TO ACCELERATION AND FORECLOSURE. IF THE BREACH IS NOT CURED ON OR t~I'FORE THE DATE SPECIFIED IN THE NOTICE, LENDER, AT LENDER'S OPTION, MAY DECLARE A I. 1. ()F T} t E SUMS SECURED BY THIS MORTGAGE TO BE IMMEDIATELY DUE AND PAYABLE WITI I( )UT FURTHER DEMAND AND MAY FORECLOSE THIS MORTGAGE BY JUDICIAL PROCEEDING o1~ l~Y ADVERTISEMENT AND EXERCISE OF THE POWER OF SALE. LENDER SHALL BE ENTITLED T(-) (.'~)1J.ECT IN SUCH PROCEEDING ALL EXPENSES OF FORECLOSURE, INCLUDING, BUT NOT LIM lTl{I) TO, REASONABLE ATTORNEYS' FEES AND COSTS OF DOCUMENTARY EVIDENCE, ABSTRACTS AN 1) TITLE REPORTS. 17. MORTGAGOR'S RIGHT TO REINSTATE. Notwithstanding I.cmtcr's acceleration of the sums secured by this Mortgage due to Mortgagor's breach, Mortgagor shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing this Mortgage if.' (a) Mortgagor pays Lender all sums which would be then due under this ~tortgage and the Note had no acceleration occurred; (b) Mortgagor cures all breaches of any other covenants or :~greements of Mortgagor contained in this Mortgage; (c) Mortgagor pays all reasonable expenses incurred by Lcmlcr in enforcing the covenants and agreements of Mortgagor contained in this Mortgage, and in enforciag I.ender's remedies as provided in paragraph 16 hereof, including, but not limited to, reasonable attorneys' fee; and (d) Mortgagor takes such action as Lender may reasonably require to assure that the lien of this Mortgage, Lender's interest in the Property and Mortgagor's obligation to pay the sums secured by this Mortgage shall continue unim paired. Upon such payment and cure by Mortgagor, this Mortgage and the obligations secured hereby shall remain in tull force and effect as if no acceleration occurred. NBS-F-S1-702-WY 4 of 6 JENSEN Revised 03/17/2004 ACAPS: 104092102740000 Mortgage, continued O }O42:80 054° cffibank' 18. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVE R. A s add itional security hereunder, Mortgagor hereby assigns to Lender the rents of the Property, provided that Mo~ I~l~gtu' shall, prior; to acceleration under paragraph 16 hereof or abandonment of the Property, have the righl i L~ c~llcct and retain such rents as they become due and payable. Upon acceleration under paragraph 16 hereof or abandonm tnt o f the Property, Lender shall be entitled to have a receiver appointed by a court to enter upon, take possession o1' ',lnd manage the Property and to Collect the rents of the Property including those past due. All rents collected by Ibc receiver shall be applied first 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 lo tl~e sums secured by this Mortgage. The receiver shall be liable to account only for those rents actually received. 19. RELEASE. Upon payment of all sums secured by this Mortgage ;tml all fees due Lender, Lender shall release this Mortgage to Mortgagor. Lender may charge a fee for preparation t~f any statement of obligation and for preparing release documentation up to the maximum allowed by Fedcr~d or California law, whichever is greater. Mortgagor shall pay all costs of recordation, if any. 20. WAIVER OF HOMESTEAD AND REDEMPTION. Mortgagor hereby releases and waives all right under and by virtue of the homestead exemption laws of Wyoming, the equity o I' redemption and statutory right of redemption in and to the Property. 21. ONE MORTGAGOR. If there is only one person executing this Mortgage, such person represents that he or she is [] single or [] married. [Check one as applicable]. NBS-F-SI-702-WY 5 of 6 JENSEN Revised 03/17/2004 ACAPS: 104092102740000 Mortgage, continued o.5 4 -3 c :bank® REQUEST FOR NOTICE O F I) lC FA U LT AND FORECLOSURE UNDER StJ PERIOR MORTGAGES OR DEEDS ¢)1: TRUST Mortgagor and Lender request the holder of any mortgage, deed of trus~ 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 f,~rcclosure action. IN WITNESS WHEREOF, Mortgagor has executed this Mortgage. ~ Mort~ JENSgaEgl~r: H~tdSIRK A/K/A HEATH DIRK [.~q, Married [ ] Unmarried Mortg,tgor: CA IO~I~E ~ENSEN 10/12/2004 [ ] Unmarried Mortgagor: Morig;~gur: [ ] Married [ ] Unmarried [ I Married [ ] Unmarried [ ] Married [ ] Unmarried [ I Married [ ] Unmarried STATE OF WYOMING, COUNTY OF LINCOLN SS: The foregoing instrument was acknowledged before me this 10/12/2004 by It EATH DIRK A/K/A HEATH DIRK JENSEN and CARRIE JENSEN. My Commission Expires: /c~ -//-'d~ ...... No~'ary 1;~bl]c [Print Namcl (Space Below This Line Reserved For I el/der and Recorder) When Recorded Return To: Citibank Document Administration 1000 Technology Drive - MS 221 O'Fallon, MO 63304 NBS-F-SI-702-WY JENSEN 6 of 6 Revised 03/17/2004 ACAPS: 104092102740000 SCHEDULE "A" THE FOLLOWING DESCRIBED REAL ESTATE SITUATE IN COUNTY OF tNG©LN AND STATE OF WYOMING, HEREBY RELEASING AND WAIVING ALL RIGHTS UNDER AND BY VIR1U[ OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE, TO-WIT: BEGINNING AT A POINT OF THE SOUTHWEST CORNER OF LOT 3 IN BI ©CK 10 OF THE AFTON TOWNSITE, LINCOLN COUNTY, WYOMING AND RUNNING THENCE NORTH 6 1/2 RO[.~'.i~ THENCE EAST 4 RODS; THENCE SOUTH 6 1/2 RODS; THENCE WEST 4 RODS TO THE PLACE OF SUBJECT TO RESTRICTIONS, RESERVATIONS, EASEMENT, COVENAN ['S OIL GAS OR MINERAL RIGHTS OF RECORD IF ANY. TITLE HELD BY: HEATH DIRK AND CARRIE JENSEN, HUSBAND t,t.~[) WIFE. TENANTS BY THE ENTIRETIES PARCEL: 32183030203800