HomeMy WebLinkAbout904983 RECEIVED 12/2/2004 at 4:25 PM
RECEIVING # 904983
BOOK: 57'3 PAGE: 848
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Above This I Jne For R cc~rding Data]
MORTGAGE
RETURN TO:
~/nMn-~O ~mLOXEES l*'~n~..~T, CREDIT
~2~3 W~ Av~ue
Cheyenne, ~ 82001
THIS MORTGAGE ("Security Instrument") is given on NOVEMBER 19, 2004 The mortgagor is
]~/~-h~el J Dalton ~ ][atb~een A Dalton, Itt/gRAND A/q-D WIFE, AS JOIlqT 2I~A%IAlqTS
("Borrower"). This Security Instrnment is given tO
WY~MTNG ~9~PLOXEES Fk'~'I~.~T. CREDIT I~gION
and whos~ ~d~r~ss is 1223 W~ Av~e
~eyo~e, ~ 82001 ("le~r"). Bo~owc~ ,~xxc-s hender~epr~ip~smof
~rty ~uufl i 00/100 Dfi~s
(U.S. $ 30,000.00 ). ~s ~bt ~ ev~ed by Bo~ower's note d:~cd thc s~e ~ ~ ~is S~ty ~ment ("Nora"),
w~ provi~s for monthly pa~ent~, wi~ ~e ~1 ~bt, if not p~d cruller, due ~d payable on ~om~R ~5, 2014
~s Sec~ty ~ment s~ to lender: (a) ~e repast of ~e dcb~ evidenced by ~e No~, wi~ ~mrest, and ~ r~w~s,
ex~i~ and m~mafi~ of ~ Nora; ~) ~e pa~t of~ o~er sums. with interest, ~v~ nnder pm~a~ 7 to prowl
~ sec~ of Ihis ~ ~ment; and (C) ~e peffo~ance of B~m}x~ cr's covenms and ~e~nts nnd~ ~is Seedily
~ment ~ ~e No~. For ~ p~ose, Bo~ower does ~reby mortgage, grant ~d convey to I~nder, wi~ power of ~e, ~e
fo~ow~ ~s~bed prope~ lo~d ~ ~A Coumx. Wyonfing:
~1, ~S~~ ~~ ~"~UET0 ~ ~E A ~T HEREOF, AS F~IT ~A'
which has the address of
· ot ~7, Lon~view ~a~_ch srmn
~V~/~STD~;T-W%~---~jD-- 'l,i-nco]m COunty ~yoming
("Property Address~);
TOGETHER WITH all the improvements now or hereafter erecicd on the property, and all easements, appurmnances, and
fixtures now or hereafter a part of the property. All replacements and add iti~ ms shall also be covered by this Security Instrument.
All of Ihe foregoing is referred Io in this Security lnsLmment as the "Propcny.-
BORROWER COVENANTS that Borrower is lawfully sci?ed of d~c estate hereby conveyed and has the right to mortgage,
grant and convey the Property and ~ha~ the Property is unenm~mhered, exccI }t for encumbrances of record. Borrower warrants and
will defend generally the fille oflhe Property against all claims and demands, subject to any encumbrances of record. UNIFORM COVENANTS. Borrower and lender covenant m~d w,rcc as follows:
1. Payment of Principal and Interest; Prepayment and Lalc t :barges. Borrower ~hall promptly pay when due the
principal of and interest an the debt evidenced by the Note and any prepa3 mcnt and late charges due nnder the Note.
2. Fxmds for Taxes and Insurance. Mortgagors agree to pay thc, indebtedness according to the rem of said promissory
:note, and, during Ihe life of this mortgage, to pay all taxes and assessmcm~ ~1~ the prermses and to keep the improvement thereon,
insured again.qt fire and other hazards in an amount not/ess what is considered prudent and nece.q~ary with Wyoming Employees
'Federal Credit Union listed as lienholder. If mortgagors :fail Io pay such mxcs or assessments or fail to keep the premises insured,
mortgagee nmy pay Ihe same and may insure the premi.~es, and all sums paid bx mortgagee for such purposes .qhall be added to and
considered as a part of floe indebtedness and .qhall draw interest at the smnc
3. Charges; Liens. Borrower .qhall pay all Iaxes, asse.q.qments, cmu'~2cs, fines and irnposifions attributable to the Property
which may attain.priority over ~thig Security InStlq~menI, and leasehold pa3 mclits or ground rems, if any. Borrower .qhall pay these
obligations in the manner provided in paragraph 2, or if not paid in that m:tnner, Borrower .qhall pay them on time directly to the
person owed payment. Borrower .qhall promptly fnrni~qh Lender all nt,ticc'~ of amounts IO be paid nnder this paragraph. If
Borrower makes these payments directly, Borrower nhall promptly fi.tmish t, ~ Lender receipts evidencing the paymemg.
Borrower .qhall promptly discharge any lien which has priority ox ct' this Security Instrument ma.less Borrower: (a) agrees
in writing Io Ihe payment of the obligation secured by ire lien in a manner acceptable to 1 ~ender; (b) conlesls in good faith the lien
by, or defendq again~ enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
enforcement of Ihe lien; or (c) secures from the holder of lite lien an agreement satisfactory to l ~ender subordinating the lien to Ihis
Security inst~ment. If Lender delermines that any part of Ihe ?ropeny is subject to a lien which may auain priority over this
Security InslInment, lender may give Borrower a notice identifying the lice. Borrower .qhall satisfy the lien or rake one or more of
Ih~ actions ~t forth above within 10 clays oflhe giving of notice.
4. Hazard or Property ]n.qnran~. Borrower ~hall keep thc im m)vemems now existing or hereafter erected on the
Property insured again.qt loss by fire, hazards included with Ihe term "extcmlcd coverage" and any other hazards, inclnding flood or
flooding, for which lender xequires insurance. This insurance shall be nmintaincd in the amomats and for the periods that iender
xequires. The in,qurance carrier providing the insurance shall be c~ho.qen bx Borrower subject to l.ender's approval which .qhall not
be l.mreasonahly withheld. If Borrower fails to maintain coverage dchcril)cd above, l~ender may, m Lender's option, oblain
coverage Io protect Iender's rightqin the Property in accord ante with this ~l,)n gage.
Page 1 of 3
All insurance polices and renewals shall be acceptable to LendcJ' ;md shall include a standard nmrtgage ci~n~e, lender
.qhall have the right to hold the policies and renewals, ffLender requires. Bt~rrower shall promptly give to Lender all receipts of
paid premiums and renewal notices. In the event of loss, Borrower shall g~x'e prompt notice to the insurance carrier and lender.
Lender may make proof of loss if not made promptly by Borrower.
Unless lender and Borrower otherwise agree ill writing, iusnrm'~cc i,'oceeds shall be applied to restoration or repair of the
Property damaged, if the restoration or repair is economically feasible and l.cnder's security is not lessened. If the restoration or
;repair is not economically feasible or Lender's security would be lessened, d. the insurance proceeds ~hall be applied to the sum.q
secured by this Security Instrument, whether or not lhen due, with an\ cxct:ss paid to Borrower. If Borrower abandons the
Property, or does not answer within 30 days a notice from Lender that tl~c insurance carrier ha~ offered to settle a claim,
Iender may collect the insurance proceeds. Lender may use the proceed~ l,, repair or restore the Property or to pay snm~ secured
by i/tis Security Instalment, whether or not then due. The 30-day period \\ ~11 begin when the notice is given.
Unless lender and Borrower otherwise agree ill writing, any ,q'q,lication of proceeds to principal ghall ;not ex'lend or
postpone the due da~e of the monthly payments referred to ill paragraph I :~d 2 or change the arnoont of the payments.
5. Occupancy, Preservation, Maintenance and Protection ol li~t. i~roperty; Borrower's Loan Appliealion. Borrower
~hall occupy, establish, and use the Property as Borrower's principal residc;~cc within sixty days after the execution of this Security
Instrument and ~hall continue to occupy the Property as Borrower's p;incip~d residence for at least one year after the date of
occupancy, unless Lender otherwise agrees in writing, which consent sh',dl m)t be unreasonably withheld, or toeless extenuating
circnmgtauees exist which are beyond Borrower's control. Borrower sh:df n,~t destroy, damage or impair the Property, allow the
Property to deteriorate, or commit waste on the Property. Borrower sh',ll Dc in default if any forfeiture action or proceeding,
whether civil or criminal, is begktll that ill Lender's good faith judgmem ctmld result in forfeiture of the Property or otherwise
materially impair the lien created by this Security Iustn~ment or Lender's scvtH'ity interest. Borrower may cure such a default and
icing;ate by CmLqing the action or proceedings to be dismi.qsed with a rulm~ that, in Lender's good faith determination, precludes
forfeiture oflhe Borrower's interest in the Property or other material inql~tiirllicllt Of the lien created by this Security irlsLmment or
Lender's security interest. Borrower shall also be in default if B0rrower~ d tiring the loan application process, gave materially false
or inaccurate information or statements to I enact (or failed Io provide Lc;~dc~ with any ma/erial information) in connection with the
loan evidenced by the Note, including, bm not limited to, represemations v~mccrning Borrower's occupancy or the Property as a
principal residence.
6. Protection of Lender's Rights in the Property. IfBorrowc~'/';tils lo perform the covenant, s and agreements contained
ill Ihis Security Iustmmem, or there is a legal proceeding that may signit'i~'antty affect Lender's rights in the Property (such as a
proceeding ill bankruptcy, probate, for condemnation or forfeiture or to cnt,,rcc laws or regnlatious), then Lender may do and pay
for whatever is xu~.cessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include
paying any sum~ secured by a lien which has priority over this Secur;t3 Instrument, appearing ill court, paying reasonable
attorney's fees and enlering on the Property to make repairs. Any amoul~t.~ disbursed by Lender nnder this paragraph .qhall become
additional debt of Borrower secured by ~hi~ Security Insl:mment. Unles~ Borrower and Lender agree to other terms of payment,
these amonntg Rhall bear interest from the da~e of disbursement at the N~tc rate and shall be payable, with interest, upon IlO;ice
from ~ io Borrower requesting payment.
7. Inspection. Lender or ils agent may make reasonable entries t;l>On and inspections of the Property. Lender .qhall give
Borrower ~mtice at the time of or prior lo an inspection specifying reason:~blc cause for the inspection.
8. Condemnation. The proceeds of any award or claim for cl:m~ages, direct or consequential, in cnnnecLion with any
condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and .qhall
be paid to Lender.
In the event of a total taking of lhe Property, the proceeds .qhall bc ;tpplicd to the sum,q secured by ihis Security Instrument,
whether or ~lot then due, with any excess paid Io Borrower. In the event ;il' ,1 partial taking of the Property ill which the fair market
value of the Properly immediately before the taking is equal to or greater titan the mount of the snm~ secured by this Security
Instrument ehall be reduced by the amount of the proceeds multiplied by ~llc l'ollowing fraction: (a) the total amount of Ihe snmq
secured immediately Before the Iaking, divided by (b) the fair market vzdt,c t,f th~ Property immediately before the taking. Any
balance ~hall be paid to Borrower. In file event of a partial taking of thc I'roperly in which Ihe fair market value of the Property
immediately before Ihe taking is less than Itm amount of the sums secured immediately before the laking, Lmless Borrower and
Lender otherwise agree ill writing or unless applicable law otherwise provitlcs, the proceeds ~qhall be applied to the sum~ secured by
thLq Secaxrity Instrument whether ornot the sum~ are then due.
If the Property is abandoned by Borrower, or fi, after notice by l.c~Mer to Borrower that the condernnor offers to make an
award or settle a claim for damages, Borrower fails to respond to Lender wilhin 30 days after Ihe date the notice is given, Lender is
mlthoriT_p_zl to collect and apply Ihe proceeds, at its option, either IO resto;'~.tt;,m or repair of the Property or to the sum~q secured by
Ihis Security Iustla~ment, whether ornot then due.
Unless Lender and Borrower oltmrwise agree ill writing, any :q)plication of proceeds to principal ~hall not extend or
postpone the due dale of the monthly payments referred to in paragraphs I and 2 or change the amount of such payment.q.
9. Borrower Not ~deae~'~l; Forbearanee By Lender Not a IvVai~cr. Extension oflhe time for payment ar modification
of amortization of the snmR sec..ured by this Security Instrument granted bx l~cnder to any successor ill interest of Borrower ghall not
operate lo xelease the liability of the original Borrower or Borrower's st~ccessors in interest. Lender .~hall llOt be required to
commence proceedings again.q; any stmeessor ill interest or refuse to extend time for payment or otherwise nmdify amorti?afion of
the snm,q secured by lids Secarity iusmunem by reason of any demand m~tlc by the original Borrower or Borrower's successors ill
interest. Any forbearance by I coder ill exercising any :right or ;remedy sh;dl no~ be a waiver of or preclude ihe exercise of any right
or lemedy.
10. ~laeeessors and Aeeigne Bonnd; Joint and Several Liabililx: Co-signers. The covenam.q and agreements of this
Security Iustla~ment ehall hind and benefit the successors and assigns ~}l Lender and Borrower, subject to the provisions of
paragraph 17. Borrower's CovenamR and agreemenLq .qhall be joint a;~d .~c\'eral. Any Borrower who co-gigng this SecLtrity
Instrmment but does not execute Ihe Note: (a) is co-signing this Securit\ Instrument only to mortgage, grant and convey that
/Borrower's interest in Ihe Property ~mder Ihe terlTlS of Ihig Security Ins;turnout: (b) is not personally obligated to pay the RnmR
secured by Ibis Security Instnmlent; and (c) agrees Ihat lender and any ~,t~:cr Borrower may agree to extend, modify, forbear or
make any accommodations with regard to the Ierms of Ibis Security Instrul~Cn~ or the Note without that Borrower's consent.
11. Loan Charges. If the loan secured by Ihis Security iustrumcm is subject to a law which sets maximum loan charges,
and itmt law is finally interpreted so that the interest or other loan charge~ c~,llected or to be collected in connection with the loan
exceed the permitted limits, ~then: (a) any such loan charge .~hall be reduced by the amount xmcessary to reduce Ihe charge to the
Page 2 of 3
0850
permitted limit; and (b) any sums already callected from Borrower which c',.cccded permitted limits will be refl,n'ded to Borrower.
1 -ender may choose Io make Ihis retired by re&ming Ihe principal owed m Ju c~ th c Note or by making a direct payment to Borrower.
If a retired re~lnc~s principal, the reduction will be treated as a partial prep:tymcnt without any prepayment charge nnder Ihe Note.
~L2. Governing Law; Severability. This Secm-ity Inslrumcnt .qiall be governed by federal law and Ihe law of the
jurisdictiorl _in which ihe Property is loeate£1, In Ihe event thai any pl-m ~s~on or clause of this Secxtrity InsW~ment or the Note
conflicts wilh applic, ahle law, mmh conflict shall not affect other provisiuus uf this Security Instrument or Ihe Note which can be
given effect wkhout the conflicting provision. To Ibis end lite provision~ ut' lhis Security Instrument and the Note are declared m
be severable.
13. Alzcderatinn; Remedies. Lender shall give notice to Borrm~ cr prior to acceleration following Borrower's breach
of any covenant or agr~ment in this Security hlstlmment. The notice shall specify: (a) the default; Co) the action required
lo sure the default; (e) a date, not less than 30 days from the date the nmice is given to Borrower, by which the default mnst
be cured; and (d) *hat failnre to cure the default on or before the date spt,cji'led in the notice may result in acceleration of the
snms ~eenred by this Secdlrity I[litrnment ltIld ~mle of the Property. qhc n.tice shall further inform Borrower of the right to
reinstate after acederution and the right to bring a court action to as,cra iht non-existence of a default or any other defense
of Borrower Io acceleration and sale. If the default is not emred on .r bd'ore the date specified in the notice, Lender at its
option may require immotliate payment in full of ldl t~nms soenred In this Security Instrnment without fm'ther demand and
may invoke the power of rmle and any other remedies permitted by applicable law. Lender shall be entitled to collect all
expenses incm'red in pursning the remedies provided in/his, including, but not limited to, reasnnable attorneys' fees and
costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice .f intent to foreclose to Borrower and to the person in
possession of the Property, if different, in accordance with applicablc law. Lender shall give notice of the sale to Borrower
in the manner provided in paragraph 14. Lender shall publish the indict of sale, and the Property shall be sold in the
manner prescribed by applicable law. Lender or its d~ignec may lmrchase the Property at any sale. The proceeds of the
sale shall be apphed in the following order: (a) to all expenses of the sale, including, but not limited to, reasanable
attorneys' fees; (b) to all snms secured by this Soe, rity ln~rmnent: and (c) any exe~ to the person or persons legally
entitled to it.
14. Release. Upnn paymem of all s, ms secured by ~his Securit~ Instrument, Lender shall release this Secur/ty Instrument
wilhouI charge Io Borrower..Borrower shall pay any recordation costs.
15. Waivers. Borrower waives 'all xights of hnmeste_ad exemN ~,m in the Property and xelin~fishes all rights of camesy
and dower in Ihe property.
BY SIGNING BELOW, Borrower accepts and agrees to thc terms and covenants comained in pages 1 Ihrongh
3 of this security Instalment and in any rider(s) execnled by Borrower and recorded with it.
Social Security N1]mher: z;~.0-5-~-9743
XIA~E
(S~.aT.)
STATE OF WYOMING,
County ss:
The foregoing insmma~t was arAmowledged before me this, 19TH DAY OF AloIr~.wm~.R,
]~intxae/ J Dalton :~-D Xa~-hleen A ]3alton, 2HU.qtaAND A-ND WIFE, AS JOIlqT I~I~NA/qTS
12004
My Commission Expires:
Page 3 of 3
~-~Xt{IBI T
Lot 17 of Longview Ranch Subdmvis~on Second Addition, Lincoln
CounEy, Wyoming as described on the official plat filed March
22, 2001 as InStrument Number 872264 of the records of the
7,~ncoln County Clerk.
The right of access as provided i~or in instrnmenn recorded
February 25, 1993 in Book 32S~R on page 70 and as com-rected by
instrument recorded October 19, 2004 in Book 570PR on page 349
of the records of the Lincoln Counuy Clerk.
0952
Number: 4388-013
SECOND HOME RIDER
THIS SECOND HOME RIDER is made this 191H day of NOVDIBER. 2004 ,
and is incorporate~i into and .qhall be deemed to ~mend :md supplement the Mortgage, Deed of
Trust, or Security Deed (the "Security Instalment") of thc ~mnc date given by the mxlersigned (the
"Borrower") whether 1here are one or more persons undersigned) to secure Borrower's Note to
WYOMING EMPI_OYFFS FT_DERAL Ci~[DIT UNION
(the "Lender") of the same date and covering the Propen.x dcscrit)ed in the Security Instalment (the
"Property"), which is located at:
Lot 17. kongview Ranch SUBD
-[~=[6N, WY 82~5~0 l.incoln County Wyoming~.~-2~
[Propeny A~dress [
Irt additinn IO the Covenanr,q alld agreemenT~q made in thc Security Instrument, Borrower and l,encler
Atrlher covenant and agree thai Sections 6 and 8 of the Securiix Instrument are deleted and are replaced by
following:
6. Oem?an~ey. Bm-rower ,qhall occupy, and ~hall only tiw thc Property as Borrower's second
home. Borrower ,qhall kl~p Ihe Propem2 available for Bon',a'cr's exclusive use and enjoyment at
all times, and ,qhall not subject the Property Io any timc,qmring or other ,qhared ownership
arrangement or lo any rental pool or agreement thai requires Borrower either ~o rent ihe
Property or give a management fh'-m or any other perso~t :m~ control over the occupancy or use
of the Property.
8. Borrower's Loan Application. Borrower ,qhall be in dclault if, during the Loan application
process, Borrower or any persons or entities acting ztt thc direction of Borrower or with
Borrower's knowledge or consent gave materially hlse, n~i~lcading, or inaccurate information or
statementq Io Iender (or failed to provide Lender with m;ttcrial information)/n connection with
i. he Loan. Material :representations include, but are not limited to, representations concerning
Borrower's occupancy of the Property as Borrower's second home.
MUL'I'ISTATE RFc. O/ID HOME RIDER - Sihgle Family -
~=annie Mae/Freddie Mac UNIFORM INSTRUMENT
Page 1 of 2
{~365R (0008) VMP MORTGAGE FORMS - (800 b 21-7291
lIDS-fiRS
/~,~m~ 3890 1/01
Inilial :~)
10. UNIFORM SEC[mF, n NOTE
This Note is a uniform instalment with limited variations Jn some jtnisdictions. In addition to lira prot~fions given to the
Note Hnlder nnder thi.q Note, a Mortgage, Deed of Trust, or Secnfity Dccd (thc "Security Instrument"), dated the same date as
thi.q Note, protects Ihe Note Holder fram possible losses which might rcsnh il' I do not keep the promises which I make in this
Note. That Secnrity Instlmment describes how and under what candition~ I may be required to make immediate payment in full
of all amonnls I owe nnder lhi.q Note. Snme of those cnndi.fions are descI ii,cd as follows:
If all or any pan oflhe Property or any Interest in the Pnq~crty is sold ot n-an.~ferred (or if Borrower is
:not a n_a~ral person and a beneficial interest in Borrower is sold ~' trm~sferred) without Lender's prior wrilIen
consent, Iender may reqnire immediate payment in full of all stuns secured by thi~ Secarity Inshmrnent.
However, this option .~hall not be exercised by Lender ffsnch cx~.rcisc is prohibited by Applicable Law.
If lender exerc, fses Ikis option, Lender ghall give Born~xxcr notice of acceleration. The notice .qhall
provide a period of not less than 30 days frolI1 Ih~ date the hr}lice is given in accordance with Section 15
within which Borrower mn.qt pay all sums secured by this Securit3 lnstrumeut. If Borrower fails to pay lhe~e
snm.~ prior to lite expiration of this period, l.ender may inx~,Lc any remedies permitted by Ihis Security
Instrument without further notice or demand on Borrower.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
Michael 3 Dal~n -Borrower iathleen A Daltor
(Seal)
-.Borrower
(Seal)
-Rorrowt~r
(Seal)
-~orrower
(s~)
-Borrower
(Seal)
-]~orrowgr
(Seal)
-.Borrower
· (Seat)
-FlOliOW~r
[Sign Original Only]
DDS-CN3
Page 3 of 3
Fnrm 32..00 1/01