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Home My WebLink About912331 50852 (01) \0 -«1 ¡t] v [JP ... 0061, 6 Aftær Recording Relurn To: . CO{JNr~YWIDE HOME LOANS, INC. MS SV-i9 DOCUMENT PRoceSSING tI.O.Box 10423 Van Nuys, CA 91410-0423 RECEIVED 9/30/2005 at 10:38 AM RECEIVING # 912331 BOOK: 599 PAGE: 616 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepãted By: LESLI A. STEVENSON (Space Above This Linl: 11ùr Rècording DalaJ M-9945-106892 [6!crow/Closing ;1 00011297350809005 (Doc ID f] MJN 1001337-0000879842-6 MORTGAGE (Line of Crew£) (L ,:~ THIS MORTGAGE, dated SEPTEMBER 2~2 . i.S bctween HAROLD R SANDS f a married man . ,~ . {} resj¡ling at I?OBOX 982, THAYNE, Wy 8312.7 , the person or persons signing as "Moltgagor(s)" below and hereinafter referred to as "we," "OUl," or "us· and MORTGAGE ELECTRONIC REGIS1RAT10N SYS1EMS, INC., ("MERS") a Delaware corporation, with an address of P.O. Box 2026, Flint. MI 48501.2026, leI. (888') 679-MERS. MERS is the "Mortgagee" under this Mortgage and is acting sotely as nominee for CO~NTRYWIDE HOME LOANS, iNC. ("Lender" or "you") and its successors and assigns. MORTGAGED PREMISES: In consideraûoIl 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 LO the successors and assigns of MERS, £he premises located at: 116 CEDAR DRIVE S IlCtt wit State I HAYNE Municipality 8312; ZiP ([he "Premises"). TETON County . MeRS HEI.OO - WV Mortgage 2E037-WV (11/04)(d) ,," Inltla,ð- Pagè!10f5 ~~I '. 2 3 9 9 1 · ' . 1 1 1~1·(';';¡'~';.ë';!m;) o 0 a - ~ ~b!:;::;:lli:'iJ8)¡ d ·JNINt~':'¡':i,.:·i :~:':':'~f:~~':~:~d ~i$:¡~,"" ,*,.:#. Lll-i sals-eel-loe ~uedWO~ 911!i þue,-~o~~ 50-eZ-d3S ¡]i;ilim:~~-:·· .<¡ ... :!>:...) ~ '" . 09..L"',dÙ.mt '·Olì6·'7 '.": U J. DOC ID #: 00011297350809005 and funher described as: LOT 6 STAR VALLEY RANCH PLAT 7, ACCORDING TO THAI OFFICIAL PLAT THEREOF RECOnDED IN THE OFFICE OF THE LINCOLN COUNTY CLERK, LINCOLN COUNTY, wYOMING. The Premiscs includes all buildings and other improv~ment'> now or in the futu1'¢ on the Premises and aU rights and interests which derive from our ownership, use or possession of the Premises and all appurtenances thereto. WE UNDERSTAND and agree thatMERS is a SepáralC corporation acting solely as nominee for Lender and Lender's successors and assi~'1'\s, and holds only legal title to the interests granted by us in this Mortgage, but, if necess<Íry LO comply with law or custom, MERS (í~'5 nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including. uut not limited to, me right to foreclose and sell the Property, and to take any action required of Lender including, but not limited to, rcléasing or canceling this Mortgage. LOAN: This Mortgage wilJ secure your loan lO us in the principal amount of $ 89, 629.00 or so much thereof as may b~ advanced and readvanced from time to timc to HAFOLD R. SANDS , and , the BOIIOwer(s) under th~ Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated S EP TEMBER 23, 2005. . plus interest and costs, lale charges and all othercharges related to the loan, all of which sums are repayable according to the Note. This Mortgage will also secure the perfonnance of all of the promises and agreements made by us and each Borro~er and Co-Signer in Lbe Note, all of our promises and agrf;ements in this Mortgage, any extensions, renewals. amendments, supplements and other modifications of tht!: Note. and any amount'> advanced by you under the tenDS (If the section of this Mortgage enritled "Our Authority ioYou." Loans under thc Note may bc made. repa.id and rcmade from time to bmt?: in accorcbncc with the terms of the Note aJ\d subject to the Credit Limit SCL fort.h in the Note. OV/NERSR!P: We are the sole owner(s) of the Plemise~. We have the legal right LO mortgage the Premises to you. OUR IMPORTANT OBUGATlONS: (a) TAXES: We will pay all real estate taxes, asse.~:;ments water charges and sewer rents relating to the P.remises when they become due. We will not claim any credit on, or make deduction from, the loan under the Note because,:,",c pay these taxes and chatgcs. We will provide you with proof of payment upon req\lest. (b) MAIN1"ENANCE: W~ will maintain ¡he buitding(s) on the Premises in good condition. We will not mak~ major changes in t.he building(s) except for nonn:a1 rep¡iirs. We will not tcar down any of the building(s) on the Premisc5ò without first. getting your consent We will nO( use the Premises illegally. If this Mortgage is on a uJ;ül in a condominium or a planned unit dcvelopmem, we shaH perlorm all of our obligations under the d&laraLion or covenanlS creating or governins Ihc condominium or planned unit development, the by-laws and regulations of the condominium or planned unit developm~nt and constiLuent documents. I , : (c) INSURANCE: We wi]) keep tlie buiJding(s) on the Premises insured at all times against loss by fire, flood aJ\d any othèr hazards you may spèeify. We may choose the insurance company, but oar choice is subject to your rcasonable approval. The policies'must be for at kast the amounts and the time ptriods that you specify. We wil1,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 rcccive payment on all insurance claims, to the extent of your in~rest under this Mongage, before we do. The insurancc policies must also provide that you be given not less than 10 days prior wrinen notice of any canceJ1ation or reduction in coverage, for any reason. Upon request, we shan deliver the policies, certificates or other evidence of insarance to you. In the event of loss or damage to the Premiscs, we will immediately notify you in writing and filc a proof of 10s13 with the insurer. You may file a proof of 105S on our b~half if we fail or refuse to do suo You mny alsO $ign our name to any check, draft or other order for the payment of insurance proceeds in the eve,nt of los!: or dan1nge to the Premises. If you receive payment of a ciaim. you will have the right to choose to use the money either lO repair we Premises or to reduce the amount owing on the Note. · MERS HELOC - WY Mort¡¡il90 2E037-WY (11/001) Page 2 of ~ "~ --t. ! 008-~ 090/ElO'd ¿l¿-l 9819-EE¿-¿OE ÆuedWOJ BI¡!l pue,-~o~~ 60:£1 90-£Z-d3S .',~f1i\fk-'., .. ' O·(~~">331 '...J~~.:.v I" ,,~"00618 DOC ID #: 00011297350809005 (d) CONDEMNATION: We assign to you the proceeds of any award or claim for damages, direct or conseQuential, in connection with any condemnation or olh~r laking of the PremiSc$. or part thereof, or for conveyance in lieu of condemnation. an of which shall be paid to you, subject [Q the terms of any Prior Mongage. (e) SECURITY INTEREST: We will join with you in signing and filing documents and. at our expense, h1 doing wha,tever you believe is necessary lO perfect and continue the perfection of your lien and security interest in lhe Premises. It i~ agreed that the Lender shall be !;ubrogated to the claims and liens of all parties whose claims or liens are discharged or paid with the proceeds of the Agreement secllfed hereby. (f) OUR AUTIfORlTY TO YOU: If we faillo perform our obligaûons under this Mortgage, you may, ¡fyou choose. perform our obligations and pay such costs and expenses. You will add the amounts you advanee to the sums owing on the Note. on wbich you will charge interest at the inlerest rate set forth in the Note. If, for example. we fail to honor our promises to maintain imroram:¢ in effect, or to pay flUl1g fees, \aXes or the eOSL'S necessary lO keep the PrcDÙses in good condition and repair or to perf 01111 any of our other agreements with you, you may. if you'chqose, advance any sums to satisfy any of our agreements with you and charge us intercsL on such advances at the interest rate set forth in tbe Nore. This Mortgage secures all such advanccs. Your payments on our behalf wi1I.I1ofcuœ our failUre to perfonn our proDÙscs in this Mortgage. Any replacement insurance thal you obtain to cover los.~ or damages to the Premises may be Jirnil.ed lQ the amount owing on the Note plus the amount of any Prior Mongages. (g) PRIOR MORTGAGE: If the provisions of this pa.ragraj)1l are completed, this Mortgage is subject and suborctinate to a prior mortgage dated 03/26/2004 and given by us to . COUNTRYWIDE HOME LOANS i as mortgagee, in the original amounl of $ 188, 000 . 00 (tile "Prior Mortgagc"). We shall not increase, amend or modify the Prior Mortgage without your prior written consent and shall upon receipt of any wolLcn notice from the holder of the Prior Mortgage prompLly deliver a copy of such notice to you. We shall pay and per(orm an of OUt obligations un,der the Prior Mortgage as and when required under tbe Prior Mortgage. (h) HAZARDOUS SUBSTANCES: We shall not cause or permit the presence, use, disposaJ, Slorage, or relcasc of any Hazardous Substances on or in the l'reDÚscs. W~ shall not do, nor allow anyone else to do, anything affecting the Premises that is in violation of any Er\VironmcntaJ Law. The preceding two sentences shall not apply to the pœscncc, use, or storage on the Premises of smnll q1lantities of Hazardous Substances that arc generally recognized to be approprialc to normal residential uses and to maintenance of th~ Premises. As used in this pa.mgraph, "Hazardous Substances" are those substances de[jned as toxic or hazardous substances by EnvlronmentaJ Law and the following substances: g'Jsoline, kerosene. other flammable or toxic petrOleum prQducls, toxic pesticides and herbicides, yolaûJe solv(:nt.~. materials containing asbestos or formaldehyde. and rac.1io8C[]vC materials. As used in this paragraph. "Environment41 Law· means federal laws and Jaws of the jurisdiction where the Premises are located that relate to hetl1th, safety or environmental protection. (i) SALE OF PREMISES: Wc will not seH, transfer ownership of, mortgage or otherwisc dispose of our interest in the Premises. in whole or in pan.. or permil tiny other lien or claim against the Premises without your prior y.rritten consent. G) INSPECTION: WC will permit you to inspect the Prcmi¡:es at any reasonable time. NO LOSS OF RIGHTS: The Note and this Mortgage may be ncgotiated or assigned by you without releasing us or lhc'PreDÙses. You may add or rel~se any person Of property obligated under the Note and this Mortgage without losing your righls in the Premises. DEPAULT: Except as may be prohibited by applicable law, and 3ubject to any advance notice and cure period if required by applicable law. if any event or condition of default as descnòed in the Note occurs, you may forec]ose upon Lhi~ Mortgage: This means that you may arrange for the Premises [Q be sold by advertisement and sale or by judicial foreclosure, at your option, as provided by law, in order to payoff what we owe on the Note and undcr lhis Mortgage. If the money you receive from the sale is not enoogh to payoff what we owe you. we will still owe you the difference which you may seek to collect from us in accordance with applìcabJe law. In addition, you may, in accordance with app1icable la.w, (i) enter on and take possession of the Premises; (ii) collect the rental pa)'lTlents, including over·due rental payments, directly from ll!;nanL~ after simply noûfying thern first class mail to make rental payments to you; (ill) 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 aClually incurred by you in proceeding to foreclosure, including, but not limited to. reasonable attorneys fees and costs of documentary evidence, abstracts ASSIGNMENT OF RENTS; APPo:JNTMENT OF RECEIVER: As additional security, we assign to you the r~lS of ttle Premises. YOu or a receiver appointed by tbe courts shall be entitled to enter upon., take possession of and manage the PreDÙses and collect the rents of the Premises inc]uding those past due after simply notifying them by fust class mail to mal~e rentaJ paymenlS lO you. ~ MERS HELOC . WY Mortgago 2E037·WY (11/04) Page 3 of 5 '''''.''~ 008-:! d lll-l 98l9-££l-lO£ 11 ~¡ ~1¡~;I;mtij¡i~ ~ i l~· ~uedWO~ 91~!1 pue,-~o~:! SO-£Z-d3S .\';¡~IIi_"...~; ~¡, ~[~*~wm: J)«~ ~), ")311 , .....' .¿,.......y .... ~006~9 DOC ID #: 00011297350809005 WAIVERS: To the extent pennitted by applicable Jaw, we WaiVl~ and release any error or defects in proceedings to enforce this Mortgage and hereby waive the benefit of any present or furore taws providing for stay of execution, extension of time, exemption from attachment., levy and sak and homestcad exemption. BINDING EFFECT: Each of us shall be fully responsible for aJJ of the promises and agreements in Ibis Mortgage. Until the Note has been paid in Cull and your obligation to make further advances under the Note has been terminated, the provisions of this Mortgage will be binding (In us, Out Jcgalrcprescntatives, our heirs and all future owners of the Premises. T~is Mortgage is fOf your benefil and for !he benefit oC anyone to whom you may assign it. Upon payment in full of all amounts owing 10 you under the Note and this Mortgage, and provided any obligation to make further advanccs under the Note has tenninated, this Mongage and your rignts in the Premises shan end. NOTICE: Except for any notice required under applicable law to be giVtl1 in anothtr m8l'U1er, (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 maiJ addressed to us at the last address appearing in your records or at sllch other address as we may designate by notice to you as provided herein, and (b) any notice to you ~hall be given by certified mail, return receipt requested, to yOUT address at ForMERS: P.O. Box 2026, Flint, MI 48501-2026 For Lender: 4500 ~ark Granada, Calabasas, CA 91302-1613 or to such other address as you may designate by notice to us. Any notic~ provid~d for in this Mortgage shall be deemed \0 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 advancc-I under the Note has terminated, you shall discharge !.his Morlgage 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 MY of your rights under this Mortgage without losing them. Any waiver by you of any provisions of this Mortgage will nOl 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 wriUtn. WITNESS: ¡L~) HAROLD R. SANDS . MCII1g.acor: (SEAL) Mmgagor: (SEAL) Mc.n¡:a¡:or: (SEAL) MC'41gagar: . MEFI$ Hal.OC . WY Martgage 2E037-WV (11/04) Pil9C 4 ", 5 008-~ OSO/SIO·~ lll-! S8IS-€€,-lO€ ~uedWOJ 91~!! pue,-~o~~ ll: € l SO-€Z-d3S ,J,,.¡,¡.·,-:.c 091),::'331 STAT£ OF WYOMING, ¡i~~;m;t};r !eto\"l The foregoing instrUment was acknowledged before me this Harold R. Sands by My Cor;ni'nission Expires: '/' ( /. .... . MERS HELOC - WY Mortgage 2.E037'WV (11/04) nnQ_~ n~n/~La'd, LLL-1 DOC ID #: 00011297350809005 County 5S: 9/23/2005 (dat~) (p:lSOIl acknl'wlcdging) X\ ~ 9/12/2007 ~J.¿,b".I~ P:!gc 5 of 5 99L9-££L-LO£ LAURIE COE - NOTARY PUBLIC County of., State?f Teton Wyoming My Commission Expires 9/12/2007 Inltial5: ~UedWOj 91\!1 pue,-~o~~ Z I: £ L '20 gO-£Z-d3S ;.;~; ;';:::¡i~:m::~~: "...,.¡¡,.~"'~ , J',,"æ "J AI,' O~:t,,:...uu.. , ", n06'?o<'\ '_ U ._,.1 RELEASE AND WAIVER F or good and valuable consideration, the receipt and sufficiency of which is acknowledged, I, Doris Sands, do hereby forever release and waive all rights under and by virtue of the Homestead Exemption Laws of the State of Wyoming in regard to: Lot 6 Star Valley Ranch Ranch Plat 7. according to that official plat thereof recorded in the Office of the Lincoln County Clerk, Lincoln County, Wyoming. together with all improve~n. /14.~ J,A..4c &. I I realize that my ?fe, Harold R. Sands has applied to Countrywide Home Loans, Inc. for a loan and acknowledge that the said Countrywide Home Loans, Inc. has relied upon this release and waiver in making the said loan. Dated: This 23rd day of September, 2005. I.:D J "'C'""" .$ Doris Sands 3; 0-..... J-s- STATE OF Wyoming ) 55 COUNTY OF Teton ) The' foregoing instrument was acknowledged before me this 23rd day of~eptember, 200?, by Doris Sands. . ! rid -~- Cltu.û ~~ Notary blic WITNESS my hand and official seal. My Commission Expires: 9/12/2007 Residing in: Jackson LAURIE COE -",~, ?TARy;W;LíC--...·l County of .:¡;¡ ~\ State .of ~ Teton ~~ Wyoming My Commission Expires 9/12/2007 006-~ 090/¿lO'd ¿1¿-1 9619-££¿-¿0£ ~UedWOj 91~!1 pue,-~o~~ £ l: £ l 90-£Z-d3S ...Â;li."""_'_ 'I'