HomeMy WebLinkAbout906242Loan No:
Borrower:
3000704580
KATHRYN ROMMEL
RECEIVED 2/2/2005 at 11:24 AM 0 ~::.' ~ ~
RECEIVING # 906242
BOOK: 578 PAGE: 285
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
........ 51
Return to:
AEGIS WHOLESALE CORPORATION
ATTENTION: LOAN SHIPPING
3250 BRIARPARK DRIVE, #400
HOUSTON, TX 77042-4204
[Space Above This Line For Recording Data]
MORTGAGE
(Line of Credit)
MIN: 100053030007045801
THIS MORTGAGE, dated January 27, 2005, is between KATHRYN ROMMEL, AN
UNMARRIED PERSON residing at 1617 SADDLE DRIVE, ETNA, WYOMING 83118, the
person or persons signing as "Mortgagor(s)" below and hereinafter referred to as "we" or "us" and
"Mortgage Electronic Registration Systems, Inc. ("MERS") (solely as nominee for AEGIS
WHOLESALE CORPORATION, (hereinafter "you" or "Lender") and Lender's successors and assigns),"
with an address at P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS, referred to as the
"Mortgagee."
Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower
in this Mortgage; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and
Lender's successors and assigns), has the right: to exercise any or all of those interests, including, but
not limited to, the right to foreclose and sell the Premises; and to take any action required of Lender
including, but not limited to, releasing or canceling this Mortgage.
MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby
mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and
assigns) and to the successors and assigns of MERS, with power of sale, the premises located at:
1617 SADDLE DRIVE, ETNA
[Street], [Municipality]
LINCOLN WYOMING
[County] [State]
and further described as:
83118 (the "Premises"),
[Zip Code]
LOT 175 OF NORDIC RANCHES DIVISION NO. 12, LINCOLN COUNTY, WYOMING AS
DESCRIBED ON THE OFFICIAL PLAT THEREOE
HELOC - WY Mortgage with MERS
FE-4331 (WY) (0205) (Page 1 of 5 Pages)
30007045800130
Initials:
12/94
The Premises includes all buildings and other improvements now or in the future on the Premises and
all rights and interests which derive from our ownership, use or possession of the Premises and all
appurtenances thereto.
LOAN: The Mortgage will secure your loan in the principal amount of $ 36,200.00 or so much thereof
as may be advanced and readvanced from time to time to KATHRYN ROMMEL, AN UNMARRIED
PERSON , the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure
Statement (the "Note") dated January 27, 2005, plus interest and costs, late charges and all other
charges related to the loan, all of which sums are repayable according to the Note. This Mortgage will
also secure the performance of all of the promises and agreements made by us and each Borrower and
Co-Signer in the Note, all of our promises and agreements in this Mortgage, any extensions, renewals,
amendments, supplements and other modifications of the Note, and any amounts advanced by you
under the terms of the section of this Mortgage entitled "Our Authority To You." Loans under the
Note may be made, repaid and remade from time to time in accordance with the terms of the Note and
subject to the Credit Limit set forth in the Note.
OWNERSHIP: We are the sole owner(s) of the Premises. We have the legal right to mortgage the
Premises to you.
BORROWER'S IMPORTANT OBLIGATIONS:
(a) TAXES: We will pay all real estate taxes, assessments, water charges and sewer rents relating
to the Premises when they become due. We will not claim any credit on, or make deduction from, the
loan under the Note because we pay these taxes and charges. We will provide you with proof of
payment upon request.
(b) MAINTENANCE: We will maintain the building(s) on the Premises in good condition. We
will not make major changes in the building(s) except for normal repairs. We will not tear down any
of the building(s) on the Premises without first getting your consent. We will not use the Premises
illegally. If this Mortgage is on a unit in a condominium or a planned unit development, we shall
perform all of our obligations under the declaration or covenants creating or governing the
condominium or planned unit development, the by-laws and regulations of the condominium or planned
unit development and constituent documents.
(c) INSURANCE: We will keep the building(s) on the Premises insured at all times against loss
by fire, flood and any other hazards you may specify. We may choose the insurance company, but our
choice is subject to your reasonable approval. The policies must be for at least the amounts and the
time periods that you specify. We will deliver to you upon your request the policies or other proof
of the insurance. The policies must name you as "mortgagee" and "loss-payee" so that you will receive
payment on all insurance claims, to the extent of your interest under this Mortgage, before we do. The
insurance policies must also provide that you be given not less than 10 days prior written notice of any
cancellation or reduction in coverage, for any reason. Upon request, we shall deliver the policies,
certificates or other evidence of insurance to you. In the event of loss or damage to the Premises, we
will immediately notify you in writing and file a proof of loss with the insurer. You may file a proof
of loss on our behalf if we fail or refuse to do so. You may also sign our name to any check, draft
or other order for the payment of insurance proceeds in the event of loss or damage to the Premises.
If you receive payment of a claim, you will have the right to choose to use the money either to repair
the Premises or to reduce the amount owing on the Note.
(d) CONDEMNATION: We assign to you the proceeds of any award or claim for damages, direct
or consequential, in connection with any condemnation or other taking of the Premises, or part thereof,
or for conveyance in lieu of condemnation, all of which shall be paid to you, subject to the terms of
any Prior Mortgage.
(e) SECURITY INTEREST: We will join with you in signing and filing documents and, at our
expense, in doing whatever you believe is necessary to perfect and continue the perfection of your lien
and security interest in the Premises.
FE-4331 (WY) (0205) (Page 2 of 5 Pages) Initials:
Loan No: 3000704580
0£8
Data ID: 951
(f) OUR AUTHORITY TO YOU: If we fail to perform our obligations under this Mortgage, you
may, if you choose, perform our obligations and pay such costs and expenses. You will add the
amounts you advance to the sums owing on the Note, on which you will charge interest at the interest
rate set forth in the Note. If, for example, we fail to honor our promises to maintain insurance in
effect, or to pay filing fees, taxes or the costs necessary to keep the Premises in good condition and
repair or to perform any of our other agreements with you, you may, if you choose, advance any sums
to satisfy any of our agreements with you and charge us interest on such advances at the interest rate
set forth in the Note. This Mortgage secures all such advances. Your payments on our behalf will not
cure our failure to perform our promises in this Mortgage. Any replacement insurance that you obtain
to cover loss or damages to the Premises may be limited to the amount owing on the Note plus the
amount of any Prior Mortgages.
(g) PRIOR MORTGAGE: If the provisions of this paragraph are completed, this Mortgage is
subject and subordinate to a prior mortgage dated and given by us to
, as mortgagee, in the original amount of
$ (the "Prior Mortgage"). We shall not increase, amend or modify the Prior
Mortgage without your prior written consent and shall upon receipt of any written notice from the
holder of the Prior Mortgage promptly deliver a copy of such notice to you. We shall pay and perform
all of our obligations under the Prior Mortgage as and when required under the Prior Mortgage.
(h) HAZARDOUS SUBSTANCES: We shall not cause or permit the presence, use, disposal,
storage, or release of any Hazardous Substances on or in the Premises. We shall not do, nor allow
anyone else to do, anything affecting the Premises that is in violation of any Environmental Law. The
preceding two sentences shall not apply to the presence, use, or storage on the Premises of small
quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential
uses and to maintenance of the Premises. As used in this paragraph, "Hazardous Substances" are those
substances defined as toxic or hazardous substances by Environmental Law and the following substances:
gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile'
solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this
paragraph, "Environmental Law" means federal laws and laws of the jurisdiction where the Premises
are located that relate to health, safety or environmental protection.
(i) SALE OF PREMISES: We will not sell, transfer ownership of, mortgage or otherwise dispose
of our interest in the Premises, in whole or in part, or permit any other lien or claim against the
Premises without your prior written consent.
(j) INSPECTION: We will permit you to inspect the Premises at any reasonable time.
NO LOSS OF RIGHTS: The Note and this Mortgage may be negotiated or assigned by you without
releasing us or the Premises. You may add or release any person or property obligated under the Note
and this Mortgage without losing your rights in the Premises.
DEFAULT: Except as may be prohibited by applicable law, and subject to any advance notice and cure
period if required by applicable law, if any event or condition described in Paragraph 12.A. of the Note
occurs, you may foreclose upon this Mortgage. This means that you may arrange for the Premises to
be sold by advertisement and sale or by judicial foreclosure, at your option, as pfovided by law, in order
to pay off what we owe on the Note and under this Mortgage. If the money you receive from the sale
is not enough to pay off what we owe you, we will still owe you the difference which you may seek to
collect from us in accordance with applicable law. In addition, you may, in accordance with applicable
law, (i) enter on and take possession of the Premises; (ii) collect the rental payments, including
over-due rental payments, directly from tenants after simply notifying them first class mail to make
rental payments to you; (iii) manage the Premises; and (iv) sign, cancel and change leases. We agree
that the interest rate set forth in the Note will continue before and after a default, entry of a judgment
and foreclosure. In addition, you shall be entitled to collect all reasonable fees and costs actually
incurred by you in proceeding to foreclosure, including, but not limited to, reasonable attorneys fees
and costs of documentary evidence, abstracts and title reports.
FE-4331 (WY) (0205) (Pag~ 3 of 5 Pages) Ini,ia,,: /~//~'
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to
you the rents of the Premises. You or a receiver appointed by the courts shall be entitled to enter
upon, take possession of and manage the Premises and collect the rents of the Premises including those
past due after simply notifying them by first class mail to make rental payments to you.
WAIVERS: To the extent permitted by applicable law, we waive and release any error or defects in
proceedings to enforce this Mortgage and hereby waive the benefit of any present or future laws
providing for stay of execution, extension of time, exemption from attachment, levy and sale and
homestead exemption.
BINDING EFFECT: Each Of us shall be fully responsible for all of the promises and agreements in
this Mortgage. Until the Note has been paid in full and your obligation to make further advances
under the Note has been terminated, the provisions of this Mortgage will be binding on us, our legal
representatives, our heirs and all future owners of the Premises. This Mortgage is for your benefit and
for the benefit of anyone to whom you may assign it. Upon payment in full of all amounts owing to
you under the Note and this Mortgage, and provided any obligation to make further advances under
the Note has terminated, this Mortgage and your rights in the Premises shall end.
NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any
notice to us provided for in this Mortgage shall be given by delivering it or by mailing such notice by
regular first class mail addressed to us at the last address appearing in your records or at such other
address as we may designate by notice to you as provided herein, and (b) any notice to you shall be
given by certified mail, return receipt requested, to your address at 3250 BRIARPARK DRIVE, SUITE
400, HOUSTON, TEXAS 77042 or to such other address as you may designate by notice to us. Any
notice provided for in this Mortgage shall be deemed to have been given to us or you when given in
the manner designated herein.
RELEASE: Upon payment of all sums secured by this Mortgage and provided your obligation to make
further advances under the Note has terminated, you shall discharge this Mortgage without charge to
us, except that we shall pay any fees for recording of a satisfaction of this Mortgage.
GENERAL: You can waive or delay enforcing any of your rights under this Mortgage without losing
them. Any waiver by you of any provisions of this Mortgage will not be a waiver of that or any other
provision on any other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above written.
KA~I'HRYN ROMMEL Borrower
FE-4331 (WY) (0205)
(Page 4 of 5 Pages)
Initials:
Loan No: 3000704580
Data ID: 951
/
[Space Below This/~'e For Acknowledgment]
State of IDAHO
County of BONNEVILLE /
/
The foregoing instrument was acknowle~l~ed before me this
20__, by
KATHRYN ROMMEL
7~tenails my hand and official~.
My commission 7es:
day of
Notary Public
(Printed Name)
FE-4331 (WY) (0205) (Page 5 of 5 Pages) Initials: /~
STATE OF IDAHO
COUNTY OF BONNEVILLE
)
)ss.
)
On January 28, 2005, before me, the undersigned, persor/ally appeared Kathryn
Rommel, known or identified to me to be the person whose name is subscribed to the
within instrument, and acknowledged to m/~t.s._he executedclh~ same.
NOTARY FOR THE STATE OF IDAHO
Commission Expires~~.K~~~ ~ '
~ NOTARY PUBLIC ~
MY COMMISSION EXPIRES 01/30/09