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HomeMy WebLinkAbout904891Recording requested by: Wells Fargo Bank N.A. Wells Fargo Equity Direct 526 Chapel Hills Drive Colorado Springs, CO 80920 When recorded remm to: Wells Fargo Bank N.A. Wells Fargo Services Consumer Loan Servicing P.O. Box 31557 Billings, MT 59107 State of Wyoming RECEIVED 11/30/2004 at 4:26 PM RECEIVING # 904891' BOOK: 573 PAGE: 687 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY. Space .\l,.x e this Lhte For Recording Date o MORTGAGE 65062780941998 (With Furore Advance Gl:mst) DATE AND PARTIES. The date of this Deed (d' Trust ("Security Instrument") is 30 November 2004 and the parties, their addresses and tax idemification numbers, if required, are as follows: MORTGAGOR: BECKY M COX, AND MILTON W COX, WIFE AND HUSBAND [---] If checked, refer to the attached Addendum incorporated herein, for additional Mortgagors their signatures and acknowledgments. LENDER: Wells Fargo Bank N.A. 420 Montgomery Street San Francisco, CA 94104 CONVEYANCE. For good and valuable consideration, ibc receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined bch~w) and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the following described property: See attached Exhibit A The property is located in Li ncol n at 444 HONROE STREET (County) (Address) AFTON , Wyoming 83110- 0000 (City) WYOMING - MASTER FORM MORTGAGE LEWY1 (0403! VMP Mortgage Solutions 1~00'521-7291 20042957700057 Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and :ill existing and future improvements, structures, fixtures, and replacements that may now or at :m3 ume in the future be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMIT. The total principal :,n,,mm secured by this Security Instrument at any one time shall not exceed $17,250.00 . This limitation of amount does not include interest and other fees and charges validly made purstlant to this Security Instrument. Also, this limitation does not apply to advances made under the terms i~f this Security Instrument to protect Lender's security and to perform any of the covenants conta~cd iii this Security Instrument. 4. SECURED DEBT AND FUTURE ADVANCES. The term ".Secured Debt" is defined as follows: A. Debt incurred under the terms of the promissory nme, revolving line of credit, contract, guaranty or other evidence of debt dated 11 /3 0 / 2 0 0 4~ ~ ctl~er with all amendments, extensions, modifications or renewals. The maturity date of the Secured Debt is 11/30/2029 B. All future advances from Lender to Mortgagor under sucl evidence of debt. All future advances are secured as if made on the date of this Sect, ity Instrument. Nothing in this Security Agreement shall constitute a conunitment to make additiot~al or future loans or advances which exceed the amount shown in Section 3. Any such c~mmticmcn[ nmst be agreed to in a separate writing. C. All sums advanced and expenses incurred by Lender fro' insuring, preserving or otherwise protecting the Property and its value and any other ~tm ~ :tdvanced and expenses incurred by Lender under the terms of this Security Instrument. 5. PAYMENTS. Mortgagor agrees that all payments under thc .%cured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Scc'urity Instrument. 6. PRIOR SECURITY INTERESTS. With regard to any t~ther mortgage, deed of trust, security agreement or other lien document that created a prio,' security interest or encmnbrance on the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortg',~g~r receives from the holder. C. Not to allow any modification or extension of, nor t(} request any future advances under any note or agreement secured by the lien document withmtt Lender's prior written consent. 7. CLAIMS AGAINST TITLE. Mortgagor will pay all taxc~,. :tsscssments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating t~ the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices th:il such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title: to the Property against any claims that would impair the lien of the Security Instrument. Mortgag~r 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. 8. DUE ON SALE OR ENCUMBRANCE. Upon sale, rarest'er, hypothecation, assignment or encumbrance, whether voluntary, involuntary, or by opcr',ttim~ of law, of all or any part of the Property or any interest therein, then at its sole option, Lender may, by written notice to Mortgagor, declare all obligations secured hereby inm~ediately due ~tml payable, except to the extent that such acceleration for and in such particular circumstances where exercise of such a right by Lender is prohibited by law. 9. PROPERTY CONDITION, ALTERATIONS AND IN.gI'ECTION. Mortgagor will keep the Property in good condition and make all repairs that arc rcas~mably necessary. Mortgagor shall not commit or allow any waste, impairment, or deterioration t~t' the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior writtc~ consent. Mortgagor will not permit any change in any license, restrictive covenant or easemcm without Lender's prior written consent. WYOMING- MASTER FORM MORTGAGE LEWY2 [04031 P~j, ~ o~ ~ 20042957700057 .. i. 0689 Mortgagor will notify Lender of all demands, proceedings, chti ms, and actions against Mortgagor, and of any loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose .of insl)CCfing the Property. Lender shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely tm' l.cnder's benefit and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to pcrfimn 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 fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right to pcrfimn fin' Mortgagor shall not create an obligation to perform, and Lender's failure to perform will nm preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completitm of tile construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and warrants to Lender as additional security all thc right, title and to any and all existing or future leases, subleases, and any other written or verbal agreements for the Use and occupancy of any portion of the Property, including any extensions, renex~ds, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues and profits (all referred to as "Rents"). Mortgagor will promptly provide Lender with true and corrcc~ cnpies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under the terms of this Security Instrument. Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument. Mortgagor ag~ccs that this assignment is effective as to third parties when Lender takes affirmative action prescribed by law, and that this assignment will remain in effect during any redemption period until the Secured Debt is satisfied. Mortgagor agrees that Lender may take actual possession of the property withm~l the necessity of commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver to Lender ally payment of Rents in Mortgagor's possession and will receive any Rents in trust for Lender :md will not conaningle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Mortgagor warrants that no default exists under the Leases or any applicable hmdlord/tenant law. Mortgagor also agrees to maintain and require any tenant to comply with file terms of the Leases and applicable law. 12. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT l) E \'ELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrlnncnt is on a leasehold. If the property is a unit in a Condominium Project or is part of a Planned IJnit Development ("PUD"), Mortgagor agrees to the following: A. Obligations. Mortgagor shall perform all of Mortga?r's obligations under the Constituent Documents. The "Constituent Documents" are the: (i) Dcchn'ation or any other document which creates the Condominium Projects or PUD and any hmnc~wncrs association or equivalent entity ("Owners Association"); (ii) by-laws; (iii) code or regulations; and (iv) other equivalent documents. Mortgagor shall promptly pay, when chic, all dues and assessments imposed pursuant to the Constituent Documents. B. Hazard Insurance. So long as the Owners Associati~m maintains, with a generally accepted insurance carder, a "master" or "blanket" policy on thc ('ondominium Project or PUD which is satisfactory to Lender and which provides insurance ct~xcrage in die amounts, for the periods, and against the hazards Lender requires, including fire 'and hazards included within the term "extended coverage," then Mortgagor's obligation unclcr Section 19 to maintain hazard insurance coverage on the Property is deemed satisfied tt~ the exteut that the required coverage is WYOMING - MASTER FORM MORTGAGE LEWY3 {0403) Page 3 of 8 20042957700057 0690 13. 14. provided by the Owner's Association policy. Mortgagor shall give Lender prompt notice of any lapse in required hazard insurance coverage. In the ex tnt of a distribution of hazard insurance proceeds in lieu of restoration or repair follpwing a less to Property, whether to the unit or to common elements, any proceeds payable to Mortgagl, a~c hereby assigned and shall be paid to Lender for application to the sums secured by this Sccurity Instrument, with any excess paid to Mortgagor. C. Flood Insurance. Mortgagor agrees to maintain floral ~n,urance for file life of the Secured Debt which is acceptable, as to form, amount and extent of c,,x erase to Lender. D. Public Liability Insurance. Mortgagor shall take such actions as nmy be reasonable to insure that the Owners Association maintains a public liabilit3 insurance policy acceptable in form, amount, and extent of coverage to Lender. E. Condemnation. The proceeds of any award or claim t'(ir danmges, direct or consequential, payable to Mortgagor in connection with any condemn..ni~m or other taking of all or any part of the Property, whether of the unit or of the common dements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid t,, I~ender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 18. F. Lender's Prior Consent. Mortgagor shall not, except artcr notice to Lender and with Lender's prior written consem, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the Condominium Project or PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent dom:dl: (ii) auy amendment to any provision of the Constituent Documents if the provision is fi,r fl~e express benefit of Lender; (iii) termination of professional management and assuml~nm~ of self-management by the Owners Association; or (iv) any action which would have tl~c effect of rendering the public liability insurance coverage maintained by the Owners Associati~m unacceptable to Lender. G. Remedies. If Mortgagor does not pay condominium ~1- I'UD clues and assessments when due, then Lender may pay them. Any amounts disbursed by t.cndcr uuder this section shall become additional debt of Mortgagor secured by this Security I n,trtm~ent. Uniess Mortgagor and Lender agree to other terms of payment, these amounts shall b~:ar interest from the date of disbursement at the Secured Debt rate and shall be payable, witl interest, upon notice from Lender to Mortgagor requesting payment. DEFAULT. Mortgagor will be in default if any party oblieatcd on the Secured Debt fails to make payment when due. Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose ~I' creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender a~ an3 nme is insecure with respect to any person or entity obligated on the Secured Debt or that the im~spcct of any payment or the value of the Property is impaired shall also constitute an event of default. REMEDIES ON DEFAULT. In some instances, federal and st:nc law will require Lender to provide Mortgagor with notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related documents, including without limitation, the power to sell the Property. All remedies are distinct, cunmlative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings arc filed shall uot constitute a waiver of or WYOMING - MASTER FORM MORTGAGE LEWY4 Io4o31 P~g'~ °'" 20042957700057 ,_0691 Lender's right to require complete cure of any existing dcthult. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right n, later consider the event a default if it continues or happens again. 15. EXPENSES; ADVANCES ON COVENANTS; 'ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortga?r will also pay on demand any amount incurred by Lender for insuring, inspecting, preserving m otherwise protecting the Property and Lender's security interest. These expenses will bear interest hmn the date of the payment until paid in full at the highest interest rate in effect as provided in ibc terms of file Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in c~llccting, enforcing or protecting Lenders' rights and re~nedies under this Security Instrument. This a~,mnl may include, but is not limited to, attorneys' fees, court costs, and other legal expenses. This :tnlt>ullt does not include attorneys' fees for a salaried employee of the Lender. This Security Instrument shall renmin in effect until released. Mortgagor agrees to pay for any recordation costs of such release. 16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the G,mprchcnsive Enviromnental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 96111 ct seq.), a~d all other federal, state and local laws, regulations, ordinances, court orders, attornc3 goner'al opinions or interpretive letters concerning the public health, safety, welfare, environment m' a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or ha/ardous material, waste, pollutant or contaminant which has characteristics which render the substance d:mgerous or potentially dangerous to the public health, safety, welfare or environment. Th~- term includes, without limitation, any substances defined as "hazardous material," "toxic substlmccs," "hazardous waste," or "hazardous substance" under any Enviromnental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in xx tiring to Lender, no Hazardous Substance is or will be located, stored or released on or in file l'~,,pcrty. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in x~ tiring to Lender, Mortgagor and every tenant have been, are, and shall remain in full conq)li',mcc with any applicable Environmental Law. C. Mortgagor shall immediately notify Lender if a release m' threatened release of a Hazardous Substance occurs on, under or about the Property or ~h~'re is a violation of any Environmental Law concerning the Property. In such an event, I¥1m tgagor shall take all necessary remedial action in accordance with any Environmental Law. D. Mortgagor shall immediately notify Lender in writi~g as soon as Mortgagor has reason to believe there is any pending or threatened investigatitm, clailn, or proceeding relating to the release or threatened release of any Hazardous Substance m' the violation of any Environmental Law. 17. CONDEMNATION. Mortgagor will give Lender prompt n~ticc of any pending or threatened action, by private or public entities to purchase or take any or alt of [he Property through condemnation, eminent domain, or any other means. Mortgagor authorizes l.cndcr to intervene in Mortgagor's name in any of the above described actions or claims. Mortgagm assigns to Lender the proceeds of any award or claim for damages connected with a condemnation {~r other taking of all or any part of the Property. Such proceeds shall be considered payments and xx ill Dc applied as provided in this Security Instrument. This assignment of proceeds is subject to the tc,'ms of any prior mortgage, deed of trust, WYOMING - MASTER FORM MORTGAGE LEWY5 {0403) page 5 of 8 20042957700057 0692 18. INSURANCE. Mortgagor shall keep Property insured agahtst loss by fire, flood, theft and other hazards and risks reasonably associated with the Property dr,: to its type and location. 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 Mortgagor subject t(, Lender's approval, which shall not be unreasonably withheld. If Mortgagor fails to maintain the c'.vcrage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in d~ Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender and shall immediately notify Lender of cancellation or termination tlr thc insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagm' shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss. ,X Im-tgagor shall give inanediate notice to the insurance carrier and Lender. Lender may make pr,~)t' ()f It)ss if not made immediately by Mortgagor. Unless otherwise agreed in writing, all inst,':mcc proceeds shall be applied to the restoration or repair of the Property or to the Secured Dcb~. whether or not then due, at Lender's option. Any application of proceeds to principal shall n()t extend or postpone the due date of the scheduled payment nor change the amount of any payment. A,y excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right t() any insurance policies and proceeds resulting from damage to the property before the acquisiti(m shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. 19. ESCROW FOR TAXES AND INSURANCE. Unless othcrwis~ provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. HNANCIAL REPORTS AND ADDITIONAL DOCUMI.:NTS. Mortgagor will provide to Lender upon request, any financial statement or information [.cndcr may deem reasonably necessary. Mortgagor agrees to sign, deliver, and file any additional dt,cumcnts or certifications that Lender may consider necessary to perfect, continue, and preserve MmtgagL)r's obligations under this Security Instrument and Lender's lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are jr)ira and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of dcb(_ M()rtgagor does so only to mortgage Mortgagor's interest in the Property to secure payment or' thc Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instruxnent secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that nkay prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency tlr one-action laws. Mortgagor agrees that Lender and any party to this Security Instrument may c,~tcnd, lnodify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; INTERPRF. TATION. This Security Instrument is governed by the laws of the jurisdiction in which the Property is located, except to the extent otherwise required by the laws of the jurisdiction where thc Property is located. This Security Instrument is complete and fully integrated. This Security hlqrument may not be amended or modified by oral agreement. Any section in this Security Instrument. attachments, or any agreement related to the Secured Debt that conflicts with applicable law will n()~ hc effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrumeut. Whenever used, the singular shall include the plural and the plural the singular. The captions and he;Mings of the sections of this Security Instrument are for convenience only and are not to be used t() interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. In the event any section of this WYOMING - MASTER FORM MORTGAGE LEWY6 Io4o31 Page ~ o,. 20042957700057 --,.0693 Security Instrument directly conflicts with any section or' thc rcvolvintg line of credit agreement or promissory note referenced in Section 4, the terms and conditions oI the revolving line of credit agreement or promissory note (as applicable), the arbitratim~ a~,~cement and the agreement to provide agreement or promissory note (as applicable), the .arbitration a~reement and the a~reement to provide flood/property .... insurance, all of which I agree to by signine II'is· Security. Instru~ent, the terms and conthtmns of smd documents and not the Security Instrument ~hal control. 23. NOTICE. Unless otherwise required by law, any notice shall bc given by delivering it or by mailing it by first class mail to the appropriate party's address on p:we I of this Security Instrument, or as shown in Lender's records, or to any other address desig~tcd i5~ writing. 24. WAIVERS. Except to the extent prohibited by law, lXh~rtgagor waives and right regarding the marshalling of liens and assets, and hereby releasing and wa ix i~lg all rights under and by virtue of the homestead exemption laws of this state. 25. OTltER TERMS. If checked, the following are applicable t~ th i~ Security Instrument: [~ Line of Credit. The Secured Debt includes a rcv~4ving line of credit provision. Although the Secured Debt may be reduced to a zero balam'c, this Security Instrumem will remain in effect until released. [---] Construction Loan. This Security Instrumen! secures an obligation incurred for the construction of an improvement on the Property [~ Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will bcc~m~c fixtures related to the Property. This Security Instrument suffices as a financing stateroom and any carbon, photographic or other reproduction may be filed of record for purposc~ .t Article 9 of the Uniform Commercial Code. ~-] Additional Terms. Home Asset Management Account Rider SIGNATURES: By signing below, Mortgagor agrees to the term~ ired cove~mnts contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. Mortgagor {x~ [ ' - D~te Mdrtgag.,' ' ' Date BECKY M COX MILTON W COX Mortgagor Date Mortgagm Date Mortgagor Date Mortgag.r Date Mortgagor Date Mortgagt~r Date WYOMING - MASTER FORM MORTGAGE LEWY7 (04o3) Page 7 of 8 20042957700057 ACKNOWLEDGMENT: (Individual) STATE OF ~Y COUNTY OF Li ncol n The foregoing instrument was acknowledged before me by BECKY M COX, MILTON W COX this 30 day o f /~lr'-CkE& w~.o'x-- Witness my hand and official seal. (Signature of Officer) ( (Title of Officer) My Commission Expires: (Seal) WYOMING - MASTER FORM MORTGAGE LEWY8 (0403) P~eSof8 20042957700057 0 048 L 0695 HOME ASSET MANAGEMENT ACCOUNT {SM} RIDER TO MORTGAGE/DEED OF TRUST (Open end credit with F-~ixed rate F'~ variable rate This Home Asset Management Account {SM} Rider is dated to the Mortgage or Deed of Trust ("Mortgage") of the same date BECKY M COX, MILTON W COX interest) 11 30'2004 and is an amendment given by the undersigned, (hereinafter "Mortgagor") to secure the borrower's EquityLine witlt FlcxAbilitys~ Agreement with Wells Fargo Bank, N.A. ("Lender") covering the property more particularly described in the Mortgage (the "Property"). In addition to the covenants and agreements made in the Mortgage, Mortgagor and Lender further covenant and agree as follows: 1. The word "Note", as used in the Mortgage and this Rider, refers t~ thc EquityLine with FlexAbility Agreement and Home Asset Management Account su Addendum I{~ EquityLine with FlexAbility 2. Despite any language to the contrary in the Mortgage, Mortgagor covenants that the Property is unencumbered, except for a first lien purchase money or refinance o I' purchase ~noney encumbrance in the name of Wells Fargo Bank, N.A., its affiliates, successors or assignees. 3. Paragraph number 4 of the Mortgage, which is captioned SECURED DEBT AND FUTt¢I~ t! ADVANCES is hereby deleted in its entirety and replaced by the following paragraph: SECURED DEBT AND FUTURE ADVANCES. The tc rn~ "S cc ured Debt" is defined as follows: A. Debt incurred under the terms of the promissory note. rcvoh, ing line of credit agreement, contract, guaranty or other evidence of debt of same date together xx ith all amendments, extensions, modifications or renewals. The maturity date of the secm cd Debt is 11/30/2029 B. All future advances from Lender to the borrower undc~ such evidence of debt, whether obligatory or discretionary. All obligatory future advances and ad\.'a~ccs to cure breeches of covenants contained in the Mortgage are secured as if made on the date of ti|is sccurity Instrmnent. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances which exceed $17,250.00 HAMARIDR 042204 20042957700o57 PAGE 1 · ._ .69c, . C. All sums advanced and expenses incurred by Lender for insuring, preserving, or otherwtse protecting the Property and its value and any other sums advanced and cxpcnses incurred by Lender under the terms of this Security Instrument. D. The terms and conditions of the Note referenced in A abt~vc include, but are not limited to, a 10 year period for advances under a revolving line of credit. Except if this Note is secured by property located in the state Tennessee, the parties have agreed that subject to certain qu ali 6' conditions the Lender may extend the period for advances tilt ;mother 10 years for a total of 20 years. Nothing in this Security Instrum cut shall constitute a commitment to extend the period for advances bcvond the initial 10 year period. E. Borrower(s) and the Lender have agreed that subject to thc satisfaction of certain qualifying conditions, the Credit Line Limit in the Note may be h~crcascd quarterly and/or annually. One of those conditions, inter alia, is the borrower's maintenance of a firsl mortgage loan on the Property with Wells Fargo Bank, N.A., or one of its affiliates. All such increascs, i I' any, sh all increase the amount of the Maximum Obligation Limit disclosed in Paragraph 4 (if the Mortgage is in Virginia the "total principal indebmess" in the 3rd recital) and the current Crcdi~ L in c L infit described in Section 3 hereinabove in the same amount(s). 4. The Note provides for a monthly variable rate of interest expressed ,ts ;~ daily periodic rate equal to 1/365 of an annual rate of 1.750 plus the "Index Rate". The Dail3 I'c~ iodic Rate of FINANCE CHARGE may increase if the highest prime rate published in the Wall Street Journal Western Edition "Money Rates" table (the "Index Rate") increases. The initial Daily Periodic Rate o r FI NANCE CHARGE is 0.01844262 which corresponds to an initial ANNUAL PERCENTAGE RATE o1' 6.75 The ANNUAL PERCENTAGE RATE will never be more than 18.00%. Any incrcasc m Daily Periodic Rate may increase the mininmm monthly payments. 5.The Paragraph which is captioned in the Mortgage, ESCROW FOIl TAXES AND INSURANCE (which may be found as Paragraph 19, 20, 21, 23, 24, depending on the documcnl) is hereby deleted in its entirety. BECKY M (~ t ~Date~ dVI;ILTON \V COX Date Date Date Date Date Date Date HAMARIDR 042204 2004295770()057 PAGE 2 EXHIBIT A 0697 Beginning at a point which is 10 rods West from the southeast corner of Lot 1 of Block 23 of the Afton Townsite, Lincoln County, Wyoming and running thence Wesn 10 rods; thence North 10 rods; thence East 10 rods; thence South 10 rods to the point of beginnzng. ALSO Beginning at the southeast corner of Lot 1 of Block 23 of the Afton Townsite, Lincoln County, Wyoming and running thence North 5 rods; thence West 5 rods; thence South 5 rods; thence East 5 rods to the place of beginning. LESS AND EXCEPT the south 2 rods thereof. ALSO Beginning at a point which 15 rods South from the Northeast corner of Lot 1 of Block 23 of the Alton Townsite, Lincoln County, Wyoming and running thence North ~ rods; thence West 5 rods; thence South ~ rod; thence East 5 rods to the place of begznning. ALSO Beginning 82.5 feet West and 165 feet South from the Northeast corner of Lot 1 of Block 23 of the Alton Townsite, Lincoln County, Wyoming and running thence South 163 feet; thence West 82.5 feet; thence North 163 feet; thence East 82.5 feet to the point of beginning.