HomeMy WebLinkAbout905099CHASE~LhN~TTAN MORTGAGE CORPORATION
1500 N.~9th St.'
Monroe/~ 71201
Attn'/Doc~hnent Control 6th FL-HE
LOAN # CE674623GG
RECEIVED 12/9/2004 at 8:57 AM
RECEIVING # 905099
BOOK: 574 PAGE: 317
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
MORTGAGE
(With Future Advance
1. DATE AND PARTIES. The date of this Mortgage (Security Instrumem, ,~ September. 24, 200.4. and the parties, their
addresses and tax identification numbers, if required, are as follows:
MORTGAGOR: PETER HATCHER and LISA HATCHER, HUSBAND AND WIFE, AS T/E
453 GRAYS RIVER LOOP JtLPINE,' Wyomxng 83128
PO BOX 3071, ALPINE, Wyoming 83128
If checked, refer to the attached Addendum incorporated helvm, lbr additional Mortgagors, their signatures and
acknowledgments.
LENDER:
CHASE MANHATTAN BANK USA, N.A.
200 White Clay Center Drive
Newark, DE 19711
DIRECT CORRESPONDENCE TO:
CHASE MANHATTAN MORTGAGE CORPORATION
1500 N. 19th St.
Monroe, LA 71201
CONVEYANCE. For good and valuable consideration, the receip~ m,d >tt[ficiency of which is acknowledged, and to secure
the Secured Debt (defined below) and Mortgagor's perfon-nance under lh~s Sectn-it~ Insn'ument, Mortgagor grants, bargains.
conveys, morlgages and warrants to Lender, with power of sale, the Ikdl,~xs mg described property:
Ail that tract or parcel of land as shown on Schedule "A" attached hereto
which is incorporated herein and made a part hereof.
37182940038600
Recording Reque:.; ;~,y &
When Recorded I~.,;. ;~ :.':, To:
USRecc i: :,,Inc.
2925 Cot,,: ~.~, ira Ste 201
St. Paul, I,,;:
The property is located in Lincoln ........................... at .....................................
(County)
453 GRAYS. RIVER .LQO~ ............. ALPINE .......... Wyoming .... 83128
(Address) t (hty~ (ZIP Code)
Together with all rights, easements, appurtenances, royalties, miner:il ~hts. oil and gas rights, all water and riparian rights.
ditches, and water ~tock and all existing and future improvements. ~ ut_'lttrcs, iqxtures, and replacements that ma5' now, or at
any time in tli'e future, be pan of the. real estate described above (all rct'c~Ted to as "?roperty").
MAXIMUM OBLIGATION LIMIT. The total principal amount >toured by this Security Instrument at any one nme shall
not exceed $ "' . .32,00.0...00 ...... . This limih~tion of amount does not include interest and other fees
and charges validly made pursuant to this Security Instrument. Also, thi~ imitation does not apply to advances n-mdc under the
terms of this Security Instrument to protect Lender's security and k~ pcrlbrm any of the covenants contained in this Security
Instrument.
SECURED DEBT AND FUTURE ADVANCES. The term "Secured l)cht" is defined as follows:
A. Debt incun'ed under the te~Tns of all promissory note(s), contract(s), guaranty(s) or other evidence of' debt described
below and all their extensions, renewals, modifications or ~,b~fimlions. (You must specifically identiy~ the debt(s)
secured and you should include the final maturity date of sm'h d~'l~t;.~').)
The Home Equity Line of Credit Agreement and Disclosure Statement
dated September 24th, 2004 due and payable, if not paid earlier,
on September 29th, 2034.
WYOMING -HOME EQUITY LINE OF CREDIT MORTGAGE (NOr FOR ' -
(~) 1994 Bankers Systems, Inc., St. Cloud, MN Form OCP-REMTG-WY 10/7/98
(~C465(WY) (990t) VMP MORTGAGE FORMS - [80Oi:-: 1 ' / 7.~ ~
-r~LMC. ZHA OR VA USEI
(page¢4
:272: HATCHER
CE674623GG
B. All future advances fi'om Lender to Mortgagor or other fnture obi.?-;re°ns of Mortgagor to Lender under any promissory
note, contract, guaranty, or other evidence of debt executed by .M~}r[g:~gor in favor of Lender executed after this Security
Instrumenl whether or not this Security Instalment is specifically relbrcnced [f more than one person mgns this Secnrity
Instrument, each Mortgagor agrees that this Security Instrumcm will secnre all future advances and fima'e obligations
that are given to or incnrred by any one or more Mortgagor, t>~-an), one or more Mortgagor and others. All fimtre
advances and other future obligations are secured by this Secttlib lastrument even though all or part may not yet be
advanced. All future advances and other future obligations are ~ccttrcd as il' made on the date of this Security Instrument.
Nothing in this Security Instrument shall constitute a commimncm to make additional or future loans or advances in any
amount. Any such commitment must be agreed to in a separate x,~ ~mng.
C. All other obligations Mortgagor owes to Lender, which may I',,t~'r m'i~e, to the extent not prohibited by law, including,
but not limited to, liabilities roi' overdrafts relating to any depo~ ac¢otHlt agreement between Mortgagor and Lender.
D. All additional sums advanced and expenses incm'red by Lend~-~
~t~ insuring, preserving or otherwise protecting the
Property and its value ~nd any other sums advanced and expe~-,., incttn'ed by Lender under tbe terms of this Security
Instrument.
In the event that Lender fails to provide any necessary notice ol thc r~ght of rescission with respect to any additional
indebtedness secured under paragraph B of this Section, Lender wmx c> m~x snbsequent security interest in tbe Mortgagor's
principal dwelling that is created by this Security Instrument (but doe= n,,t waive the security interest for the debts referenced m
paragraph A of this Section).
5. MORTGAGE COVENANTS. Mortgagor agrees that the covenants n Ihi~ section are material obligations under the Secured
Debt and this Security Instrument. If Mortgagor breaches any covemm~ m tiffs section, Lender may refuse to make additional
extensions of credit and reduce the credit limit. By not exercising eitht-~ ~ct~erly on Mortgagor's breach, Lender does nol waive
Lender's right to later consider the event a breach if it happens again.
Payments. Mortgagor agrees that all payments nnder the Secnred Debl will he paid when due and in accordance with lhe terms
of the Secured Debt and this Security Instrument. :
Prior Security Interests. With regm'd to any other mortgage, deed t) [rttM, security agreement or other lien docnment that
created a prior security interest or encumbrance on the Property, Nh,~lgagor agrees to make all payments when due and to
perfo~Tn or comply with all covenants. Mortgagor also agrees not to alloxs tony modification or extension of, nor to request any
['uture advances under any note or agreement secured by the lien docum~.m without Lender's pri6r written approval.
Claims Against Title. Mortgagor will pay all taxes, assessments, lien,, cncmnbrances, lease payments, ground rents, utilities.
and other chm'ges relating to the Property when due. Lender may reqt~ ~' Mt)rlgagor to provide to Lender copies of all notices
thai such amounts m-e due and lhe receipts evidencing Mortgagor's P~3 ~3cnt \lurlgagor will defend lille to the Property against
any claims that would impair the lien of this Security Instrument. Mort??, agrees to assign to Lender, as requested by Lender,
any rights, claims or defenses Mortgagor may have against parties xx h,, ~,pl)15 labor or materials to maintain or improve Ihe
ProperW.
Property Condition, Alterations and Inspection. Mortgagor will kccp the Property in good condition and make all repairs
that are reasonably necessary. Mortgagor shall not commit or allow a~ waste, impairment, or deterioration of the Property.
Mortgagor agrees that the nature of the occupancy and use will not s~l,st,mliali) change without Lender's prior written consent
Mortgagor will not permit any change in any license, restrictive covcn:m~ o~ easement without Lender's prior written consem
Mortgagor will notify Lender of all demands, proceedings, claims and ~ction~ against Mortgagor, and of any loss or damage to
the Property.
Lender or Lender's agents may, at Lender's option, enter the Propert.~ ~ m~y reasonable time for the purpose of inspecnng Ihe
Property. Lender shall give Mortgagor notice at the time of or beK~rc an inspection specifying a reasonable purpose fei' the
inspecuon. Any inspection of the Property shall be entirely for Lender% benefit nt~d Mortgagor will in no way rely on Lender's
inspecnon.
Authority to Perform. If Mortgagor fails to perform any duty or any ~d' Ire covenants contained in this Security Instrument,
Lender may, without notice, perform or cause them to be performed. Mor~gngor appoints Lender as attorney in fact to sign
Mortgager's name or pay any amount necessary for performance. Lc~d~-r'~ right to perform for Mortgagor shall not create an
obligation to perform, and Lender's ['allure to perform will not preclmlc Leander fi'om exercising any of Lender's other rights
under the law or this Security Instrument.
Leaseholds; Condominiums; Planned Unit Developments. Morlg.,,w ;~ree~ m comply with Ihe provisions of any lease if
lhis Securily Instrument ~s on a leasehold. If the Properly includes :~ ~m~l m a condominium or a planned unit developmenl
Morlgagor will perform all of Mortgager's duties under the covenant~, h_ -h~w~, or regulations of the condominium or planned
unit development.
Condemnation. Mortgagor will give Lender prompt notice of any pem~mg or dn'ealened action, by private or public entities to
purchase or take any or all of the Property through ~ondemnation, emm~'m domain, or any other means. Mortgagor authorizes
Lender to intervene in Mortgager's name in any of the above desc~'ih~.d actions or claims. Mortgagor assigns to Lender the
proceeds of any award or claim for damages connected with a condemns:dion or edger taking of all or any p~rt of the Property.
Such proceeds shall be considered payments and will be applied as Im~ id~d in this Security Instrument. This ass~gnmem of
proceeds is subject to the terms of any prior mortgage, deed of trust, ~c~'m'H) agreement or other lien document.
Insurance. Mortgagor shall keep Property insured against loss by fir~~. llood, theft and other hazards and risks reasonably
associated with the Property due to its type and location. This insurance ~ltaII be maintained in the amounts and roi' the periods
that Lender requires. The insurance carrier providing the insurance shal t,e chosen by Mortgagor subject to Lender's approval,
which shall not be nnreasonably withheld. If Mortgagor fails lo Xl~fimain lhe coverage described above, Lender may, at
Lender's option, obtain coverage to protect Lender's rights in the Prop crux according to the terms or'this Security Instrument.
All insurance policies and renewals shall be acceptable to Lender and ,h~dl include a standard "mortgage clause" and, where
applicable, "loss payee clause." Mortgagor shall immediately notify Icnder of cancellation or termination of the insurance.
Lender shall have the right to hold the policies and renewals. If Lendc ~-qtlires, Mortgagor shall immediately give to Lender
all receipts of paid premiums and renewal notices. Upon toss, Mot'i~,.:~?r shall g~ve immediate notice to the insurance can'ier
and Lender. Lender may make proof of loss if not made immediatel3 t)3 Mortgagor.
Unless otherwise agreed in writing, all insurance proceeds shall be a ~phcd ~t) thc restoration or repair of the Property or to the
Secured Debt, whether or not then due, at Lender's option. Any ~q)Id~catiun or' proceeds to principal shall not exlend or
1994 Bankers Systems. Inc,, St. Cloud. MN Form OCP-REMTG-WY 10/7198
(~®-C465(WY) (99011
:272: HATCHER CE674623GG
postpone the due date of the scheduled payment nor change the ~m~,mm ol' any payment. Any excess will be paid to the
Mortgagor. If the Property is acquired by Lender, Mortgagor's righl ~o zmy insurance policies and proceeds resulting fi'om
damage to the Property before the acquisition shall pass to Lender ~,~ Hl~· exlem of the Secured Debt immediately before the
acquisition.
Financial Reports and Additional Documents. Mortgagor will pm~ idc to Lender upon request, any financial statement or
information Lender may deem reasonably necessary. Mortgagor agrec~ t~, s~gu, deliver, and file any additional documents or
certifications that Lender may consider necessary to perfect, co,m/,c, and preserve Mortgagor's obligations unde,' this
Security lnsn'umem and Lender's lien status on the Property.
DUE ON SALE. Lender may, at its option, declare the entire balance ,,1' Ihe ~;ecured Debt to be immediately due and payable
upon the creation of, or conn'act for the creation of, a n'ansfer or ~,~ ~ ,il' the ?reperty. This right is subject to the restricnons
imposed by federal law (12 C.F.R. 591), as applicable.
DEFAULT. Mortgagor will be in default if any of the lbllowing occ,r
Fraud. Any Consumer Borrower engages in fraud or material misre?rc,cntanon itl connection with the Secured Debt that is an
open end home equity plan.
Payments. Any Consumer Borrower on any Secured Debt that is an ~'l~C" ['nd home eqtuty plan ['ails to make a payment when
due.
Property. Any action or inaction by the Borrower or Mortgagor occur, Ih;d adversely affects the Property or Lender's rights in
the Property. This includes, but is not limited to, the following: t:~/ Nlorlgagor fails to maintain required insurance on tbe
Property; (b) Mortgagor transfers the Property; (c) Mortgagor c,m,nits waste or otherwise destructively nses or fails to
maintain the Property such that the action or inaction adversely al'fcc(, Lender's security; (d) Mortgagor fails to pay taxes on
the Property or otherwise fails to act and thereby causes a lien to he ilu,I against the Property that is senior to the lien of this
Secnrity Instrument; (e) a sole Mm'tgagor dies; (0 if more'than one ?,h)rtgagor, any Mortgagor dies and Lender's security ts
adversely affected; (g) the Property is taken through en'finent dom;fin: (il) t~ judgment' is filed against Mortgagor and subjects
Mortgagor and the Property to action that adversely affects Lender's ttlt:i'~Sl; or (i) a prior lienholder forecloses on the Prope~y
and as a restdt, Lender's interest is adversely affected.
Executive Officers. Any Borrower is an executive officer of Lender ,.. an affiliate and such Borrower becomes indebted to
Lender or another lender in an aggregate amount greater than the aw~otHu pemfitted tinder federal laws and regulations.
REMEDIES ON DEFAULT. In addition to any other remedy ax :.hd-,Ic tinder the terms of this Security Instrument, Lender
may accelerate the Secured Debt and foreclose this Security Insn'um~.nt . ,, manner provided by law if Mortgagor is in default.
In some instances, federal and state law will require Lender to pm~ ~dc klortgagor with notice of the right to cure, ot other
notices and may establish time schedules for foreclosure actions.
At the option of the Lender, all or any part of the agreed fees ~..I ch:,ges, accrued interest and principal shall become
immediately due and payable, after giving notice if required by I,xx...,~t. the occun'ence of a del'null or anytime thereafter.
Lender shall be entitled to, without limitation, the power to sell the Ih, ~crty.
The acceptance by Lender of any sum in payment or partial pa3~.~.m on the Secured Debt after the balance is due or is
accelerated or after foreclosure proceedings are filed shall not con,fihtic ~t waiver of Lender's right to reqmre complete cure of
any existing default. By not exercising any remedy on Mortgagor's ,lefimlt, Lender does not waive Lender's right to later
consider the event a default if it happens again.
EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' I,'I,;ES; COLLECTION COSTS. If Mortgagor breaches
any covenant in this Security Instrument, Mortgagor agrees to pay all c×penses Lender incurs in perfornring such covenanls or
protecting its security interest in the Property. Such expenses inchtdc, but are not limited to, fees incurred for inspecting,
preserving, or otherwise protecting the Property and Lender's SeCLUit. interest. These expenses are payable on demand and
will bear interest from the date of payment until paid in full at the hi~ Iicsl rate of interest in effect as provided in the terms of
the Secured Debt. Morlgagor agrees to pay all cosls and expenses incm-r~d by Lender in collecting, enforcing or protecting
Lender's rights and remedies under this Security Instrument. This :lli/t)ttllt may include, but is not limited m, reasonable
auorneys' fees, court costs, and other legal expenses. This amoum ,l,,c~ ~o~ include anorneys' fees for a salaried employee of
the Lender To the extent permitted by the United States Bankruptc3 ('(,,lc. Mortgagor agrees to pay the reasonable attorneys'
l'ees Lender incurs to collect the Secured Debt as awarded by an)' c~uH't exercising jurisdiction tinder the Bankruptcy Code,
This Security Instrument shall remain m effect until released. Mm'~g:~gor agrees to pay tbr tiny recordation costs o1' snch
release.
10. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCI,'.h...\s used in this section, (1) Environmental Law means.
without limitation, the Comprehensive Environmental Response, (',mq~cnsanon and Liability Act (CERCLA, 42 U.S.C. 9601
et seq.), and all other federal, state and local laws, regulations. ,)nlinances, court orders, attorney general opinions or
interpretive letters concerning the public health, safety, welfare, e~x ,'onment or a hazardous substance; and (2) Hazardons
Substance means any toxic, radioactive or hazardous material, was~c~. l,Ollulant or contaminant which has characteristics which
render the substance dangerous o¥ potentially dangerous to tile public health, safety, welfare or environment The term
includes, without limitation, any substances defined as "hazard~,.s miterial," "toxic substances," "hazardous waste" or
"hazardous substance" under any Environmental Law.
Mortgagor represents, wan'ants and agrees that:
A. Except as previously disclosed and acknowledged in writing t. Lender, no Hazardous Substance is or will be located,
stored or released on or in the Property. This restriction doe~ m)~ npply to small quantities of Hazardous Substances that
are generally recognized to be appropriate for the norrnal usc ztlid maintenance of the Property.
B. Except as previously disclosed and acknowledged in writing t,.~ !_ender, Mortgagor and every tenant have been, are, and
shall remain in full compliance with any applicable Environmc,ud Law.
C. Mortgagor shall immediately notify Lender if a release or lhrc41cned release of a Hazardous Substance occurs on. under
or about the Property or there is a violation of any Envirt. mx'nhH Law concermng the Property. In such an event,
Mortgagor shall take all necessary remedial acnon in accord:race x~ Hh any Environmental Law
D. Mortgagor shall immediately notify Lender in writing as soon ,,~ ~lol'tgagor has reason to believe there is any pending
or threatened investigation, claim, or proceeding relating to H~c release or threatened release of any Hazardous
Substance or the violation of any Environmental Law.
(~) 1994 Bankers Systems. Inc.. St. Cloud. MN Form OCP-REMTG-WY 10/7/98 x...~z (Pag~b
(~®-C46 5(WY') (9901) ''
:272: HATCHER CE674623GG
'. '- 03, 0
11. ESCROW FOR TAXES AND INSURANCE. Unless otherwise prox idcd m a separate agreement, Mortgagor will nol be
required to pay to Lender funds For taxes and insurance in escrow.
12. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESh()RS AND ASSIGNS BOUND. All duties under this
Security Insn'ument m'e joint and individual If Mortgagor signs thi:, 5:ecurity Instrument but does nm sign an evidence of
debt. Morlgagor does so only to mortgage Mortgager's interest in Iht~ f'rnpert) to secure payment of the Secured Debt and
Mortgagor does not agree to be personally liable on the Secured Debl It' flus Security Insn'ument secures a guaranty, between
Lender and Mortgagor, Mortgagor agrees to waive any rights thai rut, in'ex ent Lender from bringing any aclion or claim
against Mm'tgagor or any party indebted under the obligation. 'I'he,c rights may include, but are not limited to, any
anti-deficiency or one-action laws. The duties and benefits of this Seem il) In~,trument shall bind and benefit the successors and
assigns of Mortgagor and Lender.
13. SEVERABILITY; INTERPRETATION. This Security Instl'umcnt is complete and fully integrated. This Security
Instrument may not be amended or modified by oral agreement. An3 ~.cc~ion in this Security Instrument, attachments, or any
agreement related to the Secured Debt that conflicts with applicable .... will not be effective, unless that law expressly or
impliedly permits the varianons by written agreement. If any section of Ihts Security Instrument cannot be enforced according
to its trams, that section will be severed and will not affect the en/brceahility of the remainder of this Security Instrument.
Whenever used, the singular shall include the plural and the plural d~c :,mguhn' The captions and headings of the sections of
this Security Instrument are for convenience only and are not to he u~cd to interpret or define the terms of this Security
Instrument. Time is of the essence in this Security Instrument.
14. NOTICE. Unless otherwise required by law, any notice shall be given nx ddivering it or by mailing it by first class mail to the
appropriate peaay's address on page 1 of this Security Instr.ument, or t,~ :u~) ofl~cr address designated in writing Notice to one
mortgagor will be deemed to be notice to all mortgagors.
15. WAIVERS. Except lo the extent prohibited by law, Mortgagor waivc~, anx right regarding the marshalling of liens and assets
and all homestead exemption rights relating to the Property.
16. LINE OF CREDIT. The Secured Debt includes a revolving line of c~cdu Althougb the Secured Debt may be reduced to a
zero balance, this Security Instrument will renmin in effect until released.
17. APPLICABLE LAW. This Security Instrument is governed by the taxx, u~ agreed to in the Secured Debt, except to the extent
required by the laws of the jurisdiction where the Property is located. :tm~ :~pplicable federal laws and regulations.
18.
RIDERS. The covenants and agreements of each of the riders checkc, bcloxx are incorporated into and supplement and amend
the terms of this Security Instrument.
[Check all applicable boxes]
[---] Assignment of Leases and Rents ~X] Other Additional Terms Rider to Security Instrument
19. [-'--] ADDITIONAL TERMS.
SIGNATURES: By signing below, Mortgagor agrees to the terms and cox cmlnts contained in this Security Instrument and ill any
attachlfi~ms. Mortgagor also acknowledges receipt ora copy of this 8ecuritb Insu'ttment on the date slated on page 1.
......................................................... I' ': "I/' ' ' ~')' ~' ~"~ '~~" '~ ................... / .... ~ ' ~ '
(Signature) I (Dar6) IS,~ ,aline} / (D~e)
PETER ~TCHER LISA HATCHER --
AC NOWL OC ', T:
STATEOF .... ~0~~ .......... COUNTY t,,'~- '- ~~C-~l }ss.
My commission expires: ~--
C~n~ ~ ~ State of
~C465(~) (9900
:272: HATCHER CE674623GG
,.-( 03:.2
LEGAL ADDEND i JM
LOT 1 OF THE GRAYS RIVER VILLAGE SECOND ADDITION TO Till,; TOWN OF ALPINE, LINCOLN COUNTY,
WYOMING, ACCORDING TO THAT PLAT FILED JULY 22, 1994 IN I'IIE OI,'HCE OF THE COUNTY CLERK AS
INSTRUMENT NO. 787017.
U22596978-O tOPOS
REFINANCE MORTGR
LOAN# CEG746230G
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