HomeMy WebLinkAbout904664 t~y $outbw~s~ Tide Corap~
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RETURN TO:
WYOMING EMPLOYEES FEDERAL CREDIT UNION
2223 Warren Avenue
Cheyenne, WY 82001
[Space Ab(~vc This Line For Recording Data]
MORTGAGE
THIS MORTGAGE ("Security Instrument") is given on NOVEMBER 08, 2004
Lawrence L Hinton AND Donna F Hinton, HUSBAND AND WIFE, AS JOINT TENANTS
· The mortgagor is
("Borrower"). This Security Instrument is given to
WYOMING EMPLOYEES FEDEP~%L CREDIT UNION
and whose address is 2223 Warren Avenue
Cheyenne· WY' 82001 ("[.cndcq'"). Borrower owes Lender the principal sum of
Thirty-Five Thousand & 00/100 Doll.s
(U.S. $ 35,000.00 ). This debt is evidenced by l/(,rrower's note dated the same date as this Security Instrument ("Note"),
which provides for monthly payments, with the full tlcl~, if not paid earlier, due and payable on NOVEMBER 15, 2011
This Security Instrument secures to Lender: (a) the repayment of the debt cvideuced by the Note, with interest, and all renewals,
extensions and modifications of the Note; (b) the paymem of all other sums, with interest, advanced under paragraph 7 to protect
the security of this Security Instrument; and (c) the p{'rfi,rmance of Bo 'ox~er s covenants and agreements under this Security
Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the
following described property located in Lincoln County, Wyoming:
Lot 9 of Block 8 of Lincoln ~ei~hts 4th Subdivision to the Town of Kemmerer,
Lincoln County, Wyoming as described on the official plat thereof.
which haStheaddressof
1140 Canyon Road
Kemmerer, WY 83101
("Property Address");
RECEIVED 11/17/2004 at 4:14 PM
RECEIVING # 904664
BOOK: 572 PAGE: 862
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
TOGETHER WITH all the improvements now m' hereafter erected on the property, and all easements, appurtenances, and
fixtures now or hereafter a part of the property. All repl',tccments and addilions shall also be covered by this Security Instrument.
All of the foregoing is referred to in this Security h~strumt~,~t as the "Property."
BORROWER COVENANTS that Borrower is lawfi,lly seized of thc estate hereby conveyed and has the right to mortgage,
grant and convey the Property and that the Property is unencumbered, except lbr encumbrances of record. Borrower warrants and
will defend generally the title of the Property against all claims and demands, subject to any encumbrances of record. UNIFORM COVENANTS. Borrower and l.cndcr covenant and agree as follows:
1. Payment of Principal and Interest; l'repa) ment and Late Charges. Borrower shall promptly pay when due the
principal of and interest on the debt evidenced by the Nt~tc :md any prepayment and late charges due under the Note.
2. Funds for Taxes and Insurance. Mortgag~rs agree to pay d~e indebtedness according to the terms of said promissory
note, and, during the life of this mortgage, ' to pay all taxes and assessments on the premises and to keep the improvement thereon,
insured against fire and other hazards in an amount n,,~ less what is considered prudent and necessary with Wyoming Employees
Federal Credit Union listed as lienholder. If mortgagors lail to pay such taxes or assessments or fail to keep the premises insured,
mortgagee may pay the same and may insure the premises, ~md all sums paid by mortgagee for such purposes shall be added to and
considered as a part of the indebtedness and shall draw imcrcst at the same rate.
3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
which may attain priority over this Security Instrument, mid leasehold payments or ground rents, if any. Borrower shall pay these
obligations in the maturer provided in paragraph 2, or it' ,x~t paid in that manner, Borrower shall pay them on time directly to the
person owed payment. Borrower shall promptly furnish Lender all nmiccs of ,amounts to be paid under this paragraph. If
Borrower makes these payments directly, Borrower shall pr,,,nptly furnish to kender receipts evidencing the payments.
Borrower shall promptly discharge any lien which has priority m'cr this Security Instrument unless Borrower: (a) agrees
in writing to the payment of the obligation secured by thc lien in a manner acceptable to Lender; (b) contests in good faith the lien
by, or defends against enforcement of the lien in, lc[2al proceedings which in the Lender's opinion operate to prevent the
enforcement of the lien; or (c) secures/'rom the holder el Ibc lien an agreement satisfactory to Lender subordinating the lien to this
Security Instrument. If Lender determines that an3' part of the Property is suhject to a lien which may attain priority over this
Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of
the actions set forth above within 10 days of the giving of ,,~tice.
4. Hazard or Property Insurance. Borrower shall keep thc improvements now existing or hereafter erected on the
Property insured against loss by fire, hazards included with the term "extended coverage" and any other hazards, including flood or
flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender
requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not
be unreasonably withheld. If Borrower fails to maintait~ coverage dcsc,'ibcd above, Lender may, at Lender's option, obtain
coverage to protect Lender's rights in the Property in accordance with this m~)rtgage.
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All insurance polices and renewals shall bc acceptable to Lender and shall include a standard mortgage clause. Lender
shall have the right to hold the policies and renewals. II' Lender requires, Borrower shall promptly give to Lender all receipts of
paid premiums and renewal notices. In the event o~' I,~ss. Borrower shall give prompt notice to the insurance carrier and Lender.
Lender may make proof of loss if not made promptly b~ Borrower.
Unless Lender and Borrower otherwise agree in x~ ricing, insurance proceeds shall be applied to restoration or repair of the
Property damaged, if the restoration or repair is ccomm~ically feasible and Lender's security is not lessened. If the restoration or
repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums
secured by this Security Instrument, whether or not ~hcu due, with any excess paid to Borrower. If Borrower abandons the
Property, or does not answer within 30 days a notice l'rt,m Lender that thc insurance carrier has offered to settle a claim, then
Lender may collect the insurance proceeds. Leudcr may use the proceeds to repair or restore the Property or to pay sums secured
by this Security Instrument, whether or not then duc. Thc 30-day period will begin when the notice is given.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
postpone the due date of the monthly payments referred t~ in paragraph I and 2 or change the amount of the payments.
5. Occupancy, Preservation, Maintenance and Protection of the l'rnperty; Borrower's Loan Application. Borrower
shall occupy, establish, and use the Property as Bert(reef's principal residence within sixty days after the execution of this Security
Instrument and shall continue to occupy the Property as Borrower's priucipal residence for at least one year after the date of
occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
circumstances exist which are beyond Borrower's contrail. Borrower shall not destroy, damage or impair the Property, allow the
Property to deteriorate, or commit waste on the Pl-ol~t.lly. Borrower slmll he in default if any forfeiture action or proceeding,
whether civil or criminal, is begun that in Lender's g~(~cl faith judgmeul could result in forfeiture of the Property or otherwise
materially impair the lien created by this Security lnst~tmtcut or Lender's security interest. Borrower may cure such a default and
reinstate by causing the action or proceedings to be dismissed with a ruling that, in Lender's good faith determination, precludes
forfeiture of the Borrower's interest in the Property or t,lher material impairment of the lien created by this Security Instrument or
Lender's security interest. Borrower shall also be in clef:roll if Borrower, during the loan application process, gave materially false
or inaccurate information or statements to Lender (or l'~ilc.tl to provide Lender with any material information) in connection with the
loan evidenced by the Note, including, but not limited h~. representations concerning Borrower's occupancy or the Property as a
principal residence.
6. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained
in this Security Instrument, or there is a legal procccdiug that may significantly affect Lender's rights in the Property (such as a
proceeding in bankruptcy, probate, for condelnnation t~r fi~rfeiture or to cnl'tu'ce laws or regulations), then Lender may do and pay
for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include
paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable
attorney's fees and entering on the Property to make rep:firs. Any amoums disbursed by Lender under this paragraph shall become
additional debt of Borrower secured by this Security Inslrument. Unless Borrower and Lender agree to other terms of payment,
these amounts shall bear interest from the date of clislmrscment at the Nutc rate and shall' be payable, with interest, upon notice
from Lender to Borrower requesting payment.
7. Inspection. Lender or its agent may make reasonable entries upou and inspections of the Property. Lender shall give
Borrower notice at the time of or prior to an inspection specifying reasonable cause tbr the inspection.
8. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of any part of the Propcr~y, or for conveyance in lieu of condemnation, are hereby assigned and shall
be paid to Lender.
In the event of a total taking of the Property, thc proceeds shall bc applied to the sums secured by this Security Instrument,
whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market
value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security
Instrument shall be reduced by the amount of the pr{~cccds multiplied by thc following fraction: Ca) the total amount of the sums
secured immediately before the taking, divided by Cb) fi~c fair market value of the Property immediately before the taking. Any
balance shall be paid to Borrower. In the event of a partial taking of thc t'roperty in which the fair market value of the Property
immediately before the taking is less than the an~ount {~1' the sums secured immediately before the taking, unless Borrower and
Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by
this Security Instrument whether or not the sums are then clue.
If the Property is abandoned by Borrower, or il', after notice by Lender to Borrower that the condemner offers to make an
award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is
authorized to collect and apply the proceeds, at its op~i~m, either to restoration or repair of the Property or to the sums secured by
this Security Instrument, whether or not then due.
Unless Lender and Borrower otherwise agree in writing, any application of proCeeds to principal shall not extend or
postpone the due date of the monthly payments referred h~ m paragraphs I and 2 or change the amount of such payments.
9. Borrower Not Released; Forbearance By I.cnder Not a Waiver. Extension of the time for payment or modification
of amortization of the sums secured by this Security Instrument granted by i_cnder to any successor in interest of Borrower shall not
operate to release the liability of the original Borrower {~r Borrower's successors in interest. Lender shall not be required to
commence proceedings against any successor in interest ~r refuse to extend time for payment or otherwise modify amortization of
the sums secured by this Security Instrument by reason {ff any demand made by the original Borrower or Borrower's successors in
interest. Any forbearance by Lender in exercising auy right or remedy shall not be a waiver of or preclude the exercise of any right
or remedy.
10. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this
Security Instrument shall bind and benefit the succcss~,rs and assigns of Lender and Borrower, subject to the provisions of
paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
Instrument but does not execute the Note: Ca) is c~-signing this Securib' Instrument only to mortgage, grant and convey that
Borrower's interest in the Property under the terms of this Security Instrument; Cb) is not personally obligated to pay the sums
secured by this Security Instrument; and Cc) agrees that l.cnder and any other Borrower may agree to extend, modify, forbear or
make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
11. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,
and that law is finally interpreted so that the interest or ~ther loan charges collected or to be collected in connection with the loan
exceed the permitted limits, then: (a) any such loan charge shall be reduced by the an~ount necessary to reduce the charge to the
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permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.
Lender may choose to make this refund by reducing thc prh~cipal owed under thc Note or by making a direct payment to Borrower.
If a refund reduces principal, the reduction will bc trc:ucd as a partial prcl~ayment without any prepayment charge under the Note.
12. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
.jurisdiction in which the Property is located. In thc event that any pmvishm or clause of this Security Instrument or the Note
conflicts with applicable law, such conflict shall not al'l'cct other provisions of this Security Instrument or the Note which can be
given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to
be severable.
13. Acceleration; Remedies. Lender shall give notice to Borro~vcr prior to acceleration following Borrower's breach
of any covenant or agreement in this Security Instrument. The notice shall specify: (a) the default; (b) the action required
to cure the default; (c) a date, not less than 30 days [rom the date the ,mtice is given to Borrower, by which the default must
be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the
sums secured by this Security Instrument and sale of the Property. Thc notice shall further inform Borrower of the right to
reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense
of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its
option may require immediate payment in full of ull sums secured hy this Security Instrument without further demand and
may invoke the power of sale and any other renwdics permitted by applicahle law. Lender shall be entitled to collect all
expenses incurred in pursuing the remedies provided ia this, including, but not limited to, reasonable attorneys' fees and
costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in
possession of the Property, if different, in accordance with applicable law. Lender shall give notice of the sale to Borrower
in the manner provided in paragraph 14. Lender ~lmll publish the ,mtice of sale, and the Property shall be sold in the
manner prescribed by applicable law. Lender or its designee may purchase the Property at any sale. The proceeds of the
sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable
attorneys' fees; (b) to all sums secured by this Security Instrumenl; ami (c) any excess to the person or persons legally
entitled to it.
14. Release. Upon payment of all sums securcd by this Security lnsu'un~ent, Lender shall release this Security Instrument
without charge to Borrower. Borrower shall pay any rcc~,rdation costs.
15. Waivers. Borrower waives all rights of h~,mestead exemptlun in the Property and relinquishes all rights of curtesy
and dower in the property.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in pages 1 through
3 of this security Instrument and in any rider(s) executed by Borrower and recorded with it.
%cial Security Number: 5 21- 6 8 - 6 4 0 5
Donna F Hinton
Social Security Number: 517 - 8 4 - 2 2 6 3
DATE
DATE
(SEAL)
(SEAL)
STATE OF WYOMING, Lincoln County ss:
The foregoing instrument was acknowlcducd before me this 8TH DAY OF NOVEM'BERt
Lawrence L Hinton AND Donna F Hinton, HUSBAND A/TD WIFE, AS JOINT TENANTS
2004
by
My Commission Expires:
,-.,> [ STEWART- NOTAFW PUBLIC
!C0un'tv of
~ Lincoln _~k~:c/~ Wyomhl9 ~.
}:;-¥~v C0mmissi0f. E'¢p;,~-,:, September 26
Notary Public
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