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HomeMy WebLinkAbout904805HIMMERICH, DON Record and Relurn To: Integrated Loan Seruices 27 In,rood Road Rocku H~I~!_, This document prepared by: ERFAN KHATIB Citibank P.O. Box 790017, MS 221 St. Louis, MO 63179 Address RECEIVED 1112412004 al 1:58 PM RECEIVING # 904805 BOOK: 573 PA(liE 400 JEANNE WAGNER LINCOLN COUNTY CLEF<}", KEMMERER, WY ACCOUNT NO.: 2709155523 HOME EQUITY LINE OF CREDI'I >,I()RTGAGE In this Mortgage, "You", "Your" and "Yours" means DONALD H. HI?,I MI:. R lC l I., A SINGLE PERSON ("Mortgagor"). "We," "Us" and "Our" means CITIBANK FEDERAl. s:XVINGS BANK, which has a home office of 11800 Spectrum Center Drive, Reston, VA 22090. The "Borrower" means the individual(s) who has(ye) signed the Home Equity Line of Credit Agreement and Disclosure (the "Agreem~'~ ~1~') t}l' even date herewith and in connection with this Mortgage. The "Property" means the real estate, including the leasehold (if any), 1,,, ~t~cd at 255 SIXTH STREET~ COKEVILLE~ WY 83114, LINCOLN County. SEE ATTACHED LEGAL DES,'I~II'TION 'Fa final THIS MORTGAGE between You and Us is made as ofthe d;tt,, ncx! to Your first signature below and has maturity date 30 years and 2 months from sUch date. The Agreement provides that the credit secured by the Property' is an ~U*~'n-cnd revolving line of credit at a variable rate of interest. The maximum amount of all loan advances made to thc I I~,n'ow~r under the Agreement and which may be secured by this Mortgage may not exceed $100~000.00 (the "C'~ edit I Jmit"). At any particular time, the outstanding obligation of Borrower to Us under the Agreement may bc ;~x sum equal to or less than the Credit Limit plus interest and other charges owing under the Agreement and ~mt, ranis owing under this Mortgage. Obligations under the Agreement, Mortgage and any riders thereto shi~ll n,,t he released even if all indebtedness under the Agreement is paid, unless and until We cause a mortgage rek'~c tu be executed and such release is properly recorded. TO .SECURE to Us: (a) the payment and performance of all imld,tcdness and obligations of the Borrower under the Agreement or any modification or replacement of the Agreem~.~ n: (b) the payment of all other sums advanced in accordance herewith to protect the security of this Mortgi~c. with finance charges thereon at the variable rate described in the Agreement; and (c) the payment of any lhtut c itdvances made by Us to Borrower (pursuant to Paragraph 16 of this Mortgage (herein "Future Loan Ad x :~ccs")) and, in consideration of the indebtedness herein recited, You hereby mortgage, grant and convey ~ t~, thc Property together with the statutory power of sale; TOGETHER WITH all the improvements now or hereafter eroded on the Property, and all easements, rights, appurtenances, rents (subject however to the rights and authorilivs given herein to You to collect and apply such rents), royalties, mineral, oil and gas rights and profits, water, walcr rights and water stock, and all fixtures now or hereafter attached to the Property (which, if this Mortgage is on a unil in it condominium project or planned unit development, shall include the common elements in such project or dcx c lupn~cnt associated with such unit), all of which, including replacements and additions thereto, shall be deemed I~ he md remain a part of the Property. CFX-H-SI-702-WY 1 of 7 HIMMERICH Revised 03/17/2004 ACAPS: 104060903270000 0904805 Mortgage, continued c bank IN WITNESS WHEREOF, YOU HAVE EXECUTED THIS 51{ ;RT(;AGE, AND AGREE TO BE BOUND BY ALL TERMS AND CONDITIONS STATED ON PAGES 3 I II R()UGH 7 FOLLOWING. IF MORTGAGOR IS AN INDIVIDUAL ~{/~0~ ~) ~/~ ~..(.~~) 07/26/2004 ~Mortgago~: 'DONXLI} H. HIMMEi/I~H [ ] Married [X~ Unmarried [ ] M:irricd [ ] Unmarried Mortgagor: Morts~r: [ ] Married [ ] Unmarried [ ] M;li'ricd [ ] Unmarried [ ] Married [ ] Unmarried [ ] /Xla,','ied [ ] Unmarried STATE OF WYOMING, COUNTY OF LINCOLN SS: The foregoing instrument was acknowledged before me this 07/26/2oo4 i~x DONALD H. HIMMERICH. My Commission Expires: 7~ ~t~. c~r-O, ,~ ~'0,~ .... 7~.~_~_~.~~.._~..._31 . ,- Lincoln ~ ~o~ng '~ [ Nota~ Public [Slgm~l t~ roi. ~y~~Commisslon ~picea M~ 20, ~ IF MORTGAGOR IS A TRUST: not personally but solely as trustee as aforesaid. By: CFX-H-SI-702-WY 2 of 7 Revised 03/17/2004 HIMMERICH ACAPS: 104060903270000 oso4So5 Mortgage, continued c, 0 c bank" You covenant that You are lawfully seized of the estate hereby co,ix ~.x cd ami have the right to mortgage, grant, and convey the Property, and that the Property is unencumbered, excep~ F,,~' tho encumbrances of record and any first mortgage. You covenant that You warrant and will defend general(~ thc title to the Property against all claims and demands, except those disclosed in writing to Us as of the date of th i-, ~, lortgage. You and We covenant and agree as follows: 1. Payment of lndebtedn ess. Borrower shall promptly pay when d, ~, ~hc indebtedness secured by this Mortgage including, without limitation, that evidenced by the Agreement. 2. Application of Payments. Unless applicable law provides othcrxx i~c all payments received by Us under the Agreement will be applied to the principal balance and any finance el,:, ~cs. late charges, collection costs, and other charges owing with respect to the indebtedness secured by this Mor~?~?~- in such order as We may choose from time to time. 3. Charges; Liens. Except as expressly provided in this Paragrapl~ :Vo[i shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which }mx attain a priority over this Mortgage, and leasehold payments or ground rents, if any, by Your making paymcm ~. x~ hen due, directly to the payee thereofi In the event You make payments directly to the payee thereof, upon Ou rc~ ucst You shall promptly furnish to Us receipts evidencing such payment. You shall make payments, when duc. on any indebtedness secured by a mortgage or other lien that is prior in right time to this Mortgage (a "l'ri~r Mortgage"). You shall promptly discharge the lien of any Prior Mortgage not disclosed to Us in wrilin~ at Iht time of application for the Agreement, provided, however, that You shall not be required to discharge a% st~cl lien so long as You shall (a) in good faith contest such lien by, or defend enforcement of such lien in, legal proceeding, which operate to prevent the enforcement of the lien or forfeiture of the Property or any part there,, E or (b) secure from the holder of such prior lien an agreement in form and substance satisfactory to Us subordi~t,t~i,,,~: such lien to th is Mortgage. You shall not enter into any agreement with the holder ora Prior Mortgage whercbx ~uch Prior Mortgage, or the indebtedness secured thereby is modified, amended, extended or renewed, withcml ~ tt~ prior written consent. You shall neither request nor allow any future advances to be secured by a Prior Mom~,,~,~ xx ithout Out' prior written consent. 4. Hazard Insurance. You shall keep the improvements now exMi,,,, or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended covc,,t~_,c" and such other hazards as We may require (including flood insurance coverage, if required by Us) and itl such amounts and for such periods as We may require. Unless We require in writing otherwise, the policy shall prt,x ,lc insurance on a replacement cost basis in an amount not less than that necessary to comply with any coinsurance ,,'~'ccntage stipulated in the hazard insurance policy. All insurance policies and renewals thereof shall be in form ~,1 subslance and with carriers acceptable to Us and shall include a standard mortgagee clause in favor of and in fora ,md substance satisfactory to Us. In the event of loss, You shall give prompt notice to the insurance carrier and Us \\'c m% make proof of loss if not made promptly by You. If the Property is abandoned by You, or if You fifil ~, tespond to Us within thirty (30) days from the date the notice is mailed by Us to You that the insurance carrier ~1 tL~t-~ to settle a claim for insurance benefits, We are authorized to collect and apply the insurance proceeds at Ou , i~t i~m either to restoration or repair of the Property, or to sums secured by this Mortgage. If the Property is acq, trod bx tJs under Paragraph 14 of this Mortgage, all of Your right, title and interest in and to any insurance pt,licies, and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition..,m II pass to Us to the extent of the sums secured by this Mortgage immediately prior to such sale or acquisit,m. The provisions of this Paragraph 4 shall be subject to the im~x tsions of Paragraph 5 if this Mortgage covers a unit in a condominium project or planned unit development. CFX-H-SI-702-WY 3 of 7 Revised 03/17/2004 HIMMERICH ACAPS: 104060903270000 0:)04805 Mortgage, continued c bang 5. Preservation and Maintenance of Property; Condominiums ami I'lanued Unit. Developments. If this Mortgage is on a unit in a condominium or a planned unit developm, ~l (herein "Condominium Project"), then: (a) You shall perform all of Your obligations under the declaration or ct,~ ,..,nfs creating or governing the Condominium Project, the by-laws and regulations of the Condom i~i~.n I'rqiect, and all constituent documents (herein "Project Documents"), including the payment when due of a~scs~mcnts imposed by the homeowners association or other governing body of the Condominium Project (hc~ c in "<~wner's Association"); (b) You shall be deemed to have satisfied the insurance requirements under Paragraph >. f th is Mo~gage if the Owners Association maintains in full force and effect a "master'' or "blanket" policy on t l,c ~ 'on d o m in ium Project which provides insurance coverage against fire, hazards included within the term "c s lc\Mod coverage" and such other hazards (including flood insurance) as We may require, and in such amounts ,,,I I't~r such periods as We may require naming Us as additional loss payee; (c) the provisions of any Project DoculllCl I~ regarding the application of any insurance proceeds from "master" or "blanket" policies covering the Condom i,imn I'rt~iect shall supersede the provisions of Paragraph 4 of this Mortgage to the extent necessary to avoid confl icl I,ctx~ o~n the provisions thereof and hereof; (d) You hereby assign to Us the right to receive distributions on accoum ,,1' Ibc Property under "master" or "blanket" policies covering the Condominium Project to the extent not applied i,, fl~c rcs\oration or repair of the Property, with any such distributions in excess of the amount necessary to satisfy in I'.ll fl~e obligations secured by this Mortgage being paid to You; (e) You shall give Us prompt written notice of an.~ I,p~c in any insurance coverage under a "master" or "bi anket" policy on the Condominium Project; and (f) Y,,, .,h~ll not, without Our prior written consent, consent to either (i) the abandomnent or termination of the Condom i.imu Project (except for the abandonment or termination provided by law in the case of substantial destruction b5 li~'c or off,er casualty or in the case ora taking or condemnation or eminent domain), (ii) any material amendment t,, thc Project Documents (including any change in the percentage interests of the unit owners in the Condominium Pr,,.iccl), or (iii) the effectuation of any decision by the Owners Association to terminate professional management an, ,~,,sume self-management of the Condominium Project. If the Property has rental units, You shall maimain insurance against rent loss in addition to the other hazards for which insurance is required herein. 6. Protection of Our Security. If You fail to perform Your obligali,,,~ under this Mortgage, or if any action or proceedings adversely affects Our interest in the Property, We may. ~tt ~ htr option, take any action reasonably necessary (including, without limitation, paying expenses and attornc5 .,' Ir'cs and to have entry upon the Property to make repairs) to perform Your obligations or to protect Our interest s . \ % a mounts disbursed by Us pursuant to this Paragraph 6, with interest thereon at the variable rate described in thc \greement, shall become indebtedness secured by this Mortgage (except as expressly provided herein). No~ h ing contained in this Paragraph 6 shall require Us to incur any expense or take any action hereunder. 7. Inspection. We or Our agents may enter and inspect the Properb. ,~l'tcr giving You reasonable prior notice. 8. Condemnation. The proceeds of any award or claim for damage,,, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or It,' ctmveyance in lieu of condemnation, are hereby assigned and shall be paid to Us. Neither Borrower nor You xx ill bc relieved of any obligation to make payments if We apply the award received to the outstanding balance ,,xx cd. If You abandon the Property, or if, after notice by Us to You that thc c~,~dClnnor offers to make an award or settle a claim for damages, You fail to respond to Us within thirty (30) days ;ti'Icl tho date such notice is mailed, We are authorized to collect and apply the proceeds in the same manner as pr,,\ idcd in Paragraph 4 hereof. 9. Forbearance Not a Waiver. Any forbearance by Us in exercising, ,m.~ right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the c x c~'cisc o f any such right or remedy in the future. Any waiver by Us must be in writing and signed by Us. CFX-H-SI-702-WY 4 of 7 Revised 03/17/2004 HIMMERICH ACAPS: 104060903270000 0 904805 O4O4 Mortgage, continued c bank" I0. Successors and Assigns Bound; Joint and Several Liability; (':~pli~ms. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, 'f,,m ~mc ©m' respective successors and assigns, subject to the provisions of Paragraph 13 hereof. All Your covenant. ;md ~greements shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for conx c~icncc only and are not to be used to interpret or define the provisions hereof. 11. Notices. Except for any notice required under applicable law to I~,, ,.dvc~ in another manner, (a) any notice to You provided for in this Mortgage shall be given by personal deliver3 ,,~ h> mailing such notice by first-class postage paid, addressed to You at the address of the Property shown :~ linc beginning of this Mortgage or at such other address as You may designate by notice to Us as provided herci~h ,md (b) any notice to Us shall be given by personal delivery or by mailing such notice by certified mail, return rccc'pl requested, to Our address stated herein or to such other address as We may designate by notice to You as prm idcd herein. 12. Severability. If any term of this Mortgage is found to be unenforcc:d~ e. all other provisions will remain in full force. 13. Due on Transfer Provision - Transfer of the Property. If all ,~r ;mx part of the Property or any interest in it is sold or transferred (or ifa beneficial interest in You is sold or translk.~ ~,.,1 ~mc! You are not a natural person) without Our prior written consent, We may, at Our option, require immediate I~:t) illcllt ill full of all sums secured by this Mortgage. However, We shall not exercise this option if the exercise i., prohibited by applicable law as of the date of this Mortgage. If We exercise this option, We shall give You notic, ,~1' acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered {,~ ~ai lcd within which all sums secured by this Mortgage must be paid. If these sums are not paid prior to the expir;tt t,.} ~,f this period, We may invoke any remedies permitted by this Mortgage without further notice or demand ,,~ You. 14. Default. If You breach any term in this Mortgage, or ifBorro~ c~ litil~ to perlbnn any obligation under the Agreement, We may, at Our option, declare all sums secured by this X h,rlg,gc to be immediately due and payable without further demand and may invoke the power of sale under this ~l,,rLuage and any other remedies permitted by law. We may collect from You all reasonable costs incurred in enforcim Ibc terms of this Mortgage, including attorneys' fees and allocated costs of Our salaried employees. 15. Assignment of Rents. As additional security hereunder, You hcrchx assign to Us the rents of the Property; provided, however, that You shall have, prior to acceleration under I%':~,~, ~'~ t~h 14 hereof or abandonment of the Property, the right to collect and retain such rents as they become duc m M p.,t5 able. 16. Future Loan Advances. Upon Your request, We at Our option ,,,,, tnal<e Future Loan Advances to You or Borrower. Such Future Loan Advances, with interest thereon, shall bc .,cctwcd by this Mortgage when evidenced by a promissory note or agreement stating that said note or agreement is -.,, ~ccured. 17. Release. Upon payment of all sums secured by this Mortgage an,~ :mx applicable Early Closure Release Fee or other fees and upon (a) expiration of the Agreement or (b) Your requc,,~. Wc shall release this Mortgage and You shall pay all costs of recordation along with any reconveyance fee and .~x statement of obligation fee, if any. 18 Appointment of Receiver; Lender in Possession. Upon accelc~:~li,,~] trader this Mortgage or abandonment of the Property, We shall be entitled to have a receiver appointed by a c~,tt~t h~ cuter upon, take possession of, and manage the Property and collect the rents of the Property including th,,.,c )a~t due. All rents coil ected by the receiver shall be applied first to payment of the costs ofmanagemem ,~l l l~c I'roperty and collection of rents, including but not limited to, receiver's fees and premiums on the recci, ,.~ s honds and reasonable attorneys' fees and then to the sums secured by this Mortgage. The receiver shall be liahl,. ,,, ~ccount only for those rents actually received. CFX-H-SI-702-WY 5 of 7 Revised 03/17/2004 HIMMERICH ACAPS: 104060903270000 .... 04 5 Mortgage, continued c bank' 19. Statement of Obligation, We may collect a fee for furnishing a .,l',~tcmcnt of obligation in an amount not to exceed the maximum amount permitted under applicable law. 20. No Merger. There shall be no merger of the interest or estate c~c,~cd ,,x this Mortgage with any other interest or estate in the Property at any time held by or for Our benefit in any c'.tl,zlClly, without Our prior written consent. 2 l. Fixture Filing. This Mortgage constitutes a financing statement Ii k., as a fixture filing in the Official Records of the County Recorder of the county in which the Property is located xx il h respect to any and all fixtures included within the term "Property" as used in this Mortgage and with respect I~, ~,~) goods or other personal property that may now or hereafter become such fixtures. 22. Third Party Waivers. In the event that any of You has not alsu ~iLincd the Agreement as Borrower, each of You: (a) agrees that We may, from time to time, without notice to, coll..ctlt Ii'om or demand on You, and without affecting or impairing in any way any of Our rights or Your obligatio,,,. (i) renew, extend, accelerate, compromise or change the interest rate or other terms of the Agreement and any pr,,,}isst~ry note or agreement evidencing a Future Loan Advance, and (ii) accept, waive and release other securi~x linc luding guarantees) for the obligations arising under the Agreement or any promissory note or agreement ex i~k.,~' ins a Future Loan Advance, and (b) waives (i) any right to require Us to proceed against any Borrower or ;m.x ~thcr person, proceed against or exhaust any security for the obligations secured by this Mortgage or pursue a~x ~ ,l]lct' remedy in Our power whatsoever, (ii) any defense or right against Us arising out of any disability or other d,.lt'~sc m' cessation of liability of any Borrower for any reason other than full payment, (iii) any defense or right againq lis arising out of Our foreclosure upon the Property, even though such foreclosure results in the loss of any right ,1 ~uhrogation, reimbursement or other right You have against any Borrower, (iv) all presentments, diligence, prok~,~,, demands and notice of protest, dishonor, and nonperformance, (v) until payment in full of the indebtedness secm'cJ hy this Mortgage, any right of subrogation or the benefit of any security for such indebtedness, and {~ i) thc benefit of the statute of limitations affecting the Property to the extent permitted by law. Any partial pay, ~,'m by Borrower or other circumstance that operates to toll any statute of limitations as to such person shall oper',~tc t,, toll such statute as to You. 23. Choice of Law. This Mortgage will be governed by the laws of th,. t Initcd States and (where not inconsistent) the interest rate laws of the State of California, and the procedural, dc l i,' icncy one form of action and foreclosure laws of the state where the Property is located. 24. Your Copy. You shall be given one conformed copy of the Agrc,'~cnt and this Mortgage. 25. Loan Charges Legislation Affecting Our Rights. If the Agrec~c.t is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or ,,d~cr I~an charges collected or to be collected in connection with the Agreement exceed the permitted limits, then (a, ,,x such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) ~,~ ,uch loan charge already collected from You or Borrower which exceeded permitted limits will be refunded t,~ h',,u or Borrower; We may choose to make this refund by reducing the principal owed under the Agreement or b/ ~,k i~g a direct payment to You or Borrower. Ifa refund reduces principal, the reduction will be treated as a partial [~l ~.l~t.x mcnt without any prepayment charge due. If enactment or expiration of applicable laws has the effect of rcmlct ins any provision of the Agreement or this Mortgage unenforceable according to its terms, We may at Our option, rvquir¢ immediate payment in full of all sums secured by this Mortgage and may invoke any remedies pern~incd I,x Paragraph 14. CFX-H-S1-702-WY 6 of 7 HIMMERICH Revised 03/17/2004 ACAPS: 104060903270000 Mortgage, continued ¢ bank' 26. Waiver of Homestead and Redemption. You release'find wai, ~-MI rights under, and by virtue of the homestead exemption laws of Wyoming, the equity of redemption m,d .~tmut~r) right 6fredemption in and to the Property. 27. Trustee Exculpation. If this Mortgage is executed by a trust, Y,,. c',~..cute this Mortgage as trustee as aforesaid, in the exercise of the power and authority conferred upon ',md ~. c~led in it as such trustee, and it is expressly understood and agreed by Us and by every person hereaft~.: ~'l~ iming any right hereunder that nothing contained herein or in the Agreement shall be construed as creating u~? mbilily on You personally to pay amounts owing in connection with the Agreement or this Mortgage or any imc~ ~.-.I H~at ma) occur thereon, or to perform any covenants either express or implied contained in this Mortgage, all ~u d l i~Mility, if any, being expressly waived, and that any recovery on the Mortgage or the Agreement shall be solely a.~:~m~ and out of the Property by enforcement of the provisions of this Mortgage and the Agreement, but this waiv~.~- .,h~tl in no way affect the personal liability of any individual Borrower, co-maker or guarantor of this Agreement. 28. One Mortgagor. If there is only one person executing this Mo,-i~,,m~.. ~t,ch person represents that he or she is [] single or [] married. [Check one as applicable]. CFX-H-SI-702-WY 7 of 7 Revised 03/17/2004 HIMMERICH ACAPS: 104060903270000 04 . 7 SCHEDULE "A" ALL OF THE FOLLOWING DESCRIBED PREMISES, TO-WIT: LOTS FOUR (4), FIVE (5), AND SIX (6), IN BLOCK FIVE (5) OF THE HEUL , ~ .&DDITION TO THE TOWN OF COKEVILLE LINCOLN COUNTY, WYOMING. LOTS ONE (1) AND TWO (2), IN BLOCK FOUR (4) OF THE HEUETT ADE I~_~N TO THE TOWN OF COKEVlLLE, SUBJECT TO RESTRICTIONS RESERVATIONS, EASEMENT, COVEN~NI: OIL GAS OR MINERAL RIGHTS OF RECORD. IF ANY. T[TI,I"i I'[EI.D BY. DONALD H. HIMMERICH. A SINGLE PERSON PARCEL: WARI): BAP, T. 24190820401500