HomeMy WebLinkAbout913616
~.. (.,~ { ~lt ':_1, f';.
/ ') .....
After Recording Retum To:
COUNTRYWIDE HOME LOANS, INC.
MS SV-79 DOCUMENT PROCESSING
P.O. Box 10423
Van Nuys, CA 91410-0423
Prepared By:
CANDACE HATCH
RECEIVED 11/10/2005 at 4:02 PM
RECEIVING # 913616
BOOK: 604 PAGE: 456
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Ahove This Line For Recording Data]
FA 14394 M
00012067050311005
[Escrow/Closing #J
100c 10 UJ
MORTGAGE
THIS MORTGAGE is made this 4th day of NOVEI'1BER, 2005 ,between the Mortgagor,
DENNIS A REESE, AND MARLA J REESE, HUSBAND AND WIFE
(herein "Borrower"), and the Mortgagee,
Countrywide Bank, N.A.
A NATL. ASSN. organized and existing under
the laws of THE UNITED STATES , whose address is
1199 North Fairfax St. Ste.500, Alexandria, VA 22314
(herein "Lender").
WHEREAS, Borrower is indebted to Lender in the principal sum ofD.S. $ 32,000.00 , which indebtedness is
evidenced by Borrower's note dated NOVEMBER 04, 2005 and extensions and renewals thereof (herein "Note"),
providing for monthly installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable
on NOVEMBER 01, 2020
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of all
other sums, with interest thereon, advanced in accordance herewith to protect the security of this rvlortgage; and the performance
of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant and convey to Lender,
with power of sale, the following described property located in the County of LINCOLN
State of Wyoming:
LOT 1 OF THE BITTER CREEK RANCHES SUBDIVISION, LINCOLN COUNTY, WYOMING AS DESCRIBED ON
THE OFFICIAL PLAT THEREOF.
which has the address of
7792 BITTER CREEK ROAD
[Streetl
(herein "Property Address");
AFTON ,Wyoming 83110
[Cityl [Zip Code]
TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances
and rents, all of which shall be deemed to be and remain a part of (he property covered by this Ivlorrgage; and all of the foregoing,
together with said property (or the leasehold estate if this Mortgage is on a leasehold) arc hereinafter referred [0 as the "Property."
Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and
convey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower covenants that
WYOMING - SECOND MORTGAGE - 1/80· FNMA/FHLMC UNIFORM INSTRUMENT
G -76(WY) (0308)
®
CHL (11/03)(d)
Page 1 ot4
VMP Mortgage Solutions (800)521-7291
Form 3851
~-Ì"ìll~!) '. /1
JU . ~/ i { II
Initials: / /,1 ~ t---
I t
*23991*
* 1 2 0 6 7 0 5 0 3 0 0 O. 0 0 2 0 7 6 - *
~
,J ~ Ü:j "f,í ''''-',~ ~r:; ~TI ¡r:
'\.g___J....:.J..¿,.::i"-.!.~'\-.JJ
r' n (\ 11 r.~ 1'-'1
'-' d .I .i V {
DOC 1D #: 00012067050311005
Borrower warrants and wilJ defend generally the tille to Ihe Property against alJ cJaims and demands, snbject to encumbranêeS of
record.
UNIFORM COVENANTS. Borrower and Lenda covenant and agree as foJIows:
1. Payment of Principal and Interest. BOlTower shalJ promptly pay when due Ihe principal and interest indebtedness
evidenced by the NOle and late charges as provided in the Note,
2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shalJ pay to Lender
on the day monthly payments of principal and inlerest are payable unda [he Note, until the Note is paid in full, a sum (herein
"Funds") equal to one-twelfth of the yearly laxes and assessments (induding condominium and planned unit development
assessments, if any) which may attain priority over Ihis Mortgage and ground rents on the Property, if any, pJus one-twelfth of
yearly premium instalJments for hazard insurance, plus one-twelfth ofyearJy premium installments for mortgage insurance, if any,
all as reasonably estimated initia]]y and from time to time by Lender on the basi,s of assessments and bilJs and reasonable
estimates thereof. Borrower shaJI not be obligated to make such payments of Funds to Lender to the extent that Borrower makes
such payments to [he holder of a prior mortgage or deed of tmst if such holder is an institutional Jender.
If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or
guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay
said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds,
analyzing said account or verifying and compiling said assessments and bilJs, unless Lender pays Borrower interest on the Funds
and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of
this Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicabJe Jaw requires
such interest to be paid, Lender shaJI not be required to pay Borrower any interest or earnings on the Funds. Lender shalJ give to
Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which
each debit to the Funds was made. The Funds :u'e pledged as additional security for the sums secured by this Mortgage.
If the amount of the Funds he]d by Lender, together with the future monthJy insla]]ments of Funds payable prior to the due
dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
assessments, insurance premiums and ground rents as they fa]] due, such excess shall be, at Borrower's option, either promptJy
repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender sha]] not
be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fa]] due, Borrower sha]] pay to Lender any
amount necessary to make up the deficiency in one or more payments as Lender may require.
Upon payment in fu]] of a]] SUlUS secured by this Mortgage, Lender shaH promptJy refund to Borrower any Funds held by
Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall appJy, no
later than immediately prior to the sale of the Properly or its acquisition by Lender, any Funds held by Lender at the time of
appJication as a credit against the sums secured by this Mortgage.
3. Application of Payments. UnJess applicabJe law provides otherwise, all payments received by Lender under the Note
and paragraphs 1 and 2 hereof shall be appJied by Lender first in payment of amounts payable to Lender by Borrower under
paragraph 2 hereof, then to interest payable on the Note, and then to [he principal of the Note.
4. Prior l\Iodgages and Deeds of Trust; Charges; Liens. Borrower shaH perform all of Borrower's obligations under any
mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage, including Borrower's
covenants to make payments when due. Borrower shall payor cause to be paid alJ taxes, assessments and other charges, fines and
impositions attributabJe to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if
any.
5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage," and such other hazards as Lender may require and in
such amounts and for such periods as Lender may require.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that
such approval shaH not be unreasonably withheld. All insurance policies and renewa]s thereof shalJ be in a form acceptabJe to
Lender and shaH include a standard mortgage danse in favor of and in a form acceptable to Lender. Lender shaJl have the right to
hold the policies and renewals thereof, subject to the ten11S of any mortgage, deed of trust or other secUJ;ty agreement with a lien
which has priority over this Mortgage.
In the event of Joss, Borrower sha]] give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if
not made promptly by Borrower.
If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is
mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to
co]]ect and appJy the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by
this Mortgage.
6. Preservation and l\Iaintenancc of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair and sha]] not commit waste or pel111it impaim1ent or deterioration of the Property and shall
comply wilh the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a
pJanned unit development, Borrower shall perfonn all of Borrower's obligations under the declaration or covenants creating or
goveming the condominium or planned unit development, the by-laws and reguJations of the condominium or planned unit
development, and constituent documents.
7. Protection of Lender's Security. If Borrower fads to perform the covenants and agreements contained in this rvlortgage,
or if any action or proceeding is commenced which materia]]y affects Lender's interest in the Property, then Lender, at Lender's
option, upon notice to Borrower, may make such apperu-ances, disburse such sums, incJuding reasonable attorneys' fees, and take
such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the Joan
secured by this Mortgage, Borrower sha]] pay the premiums required to maintain such insurance in effect until such time as [he
requirement for such insurance terminates in accordance with Borrower's and Lender's wl;[ten agreement or appJjcable Jaw.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest Ihèreon, at the Note rate, shall become
additionaJ indebtedness of Borrower secured by this Mortgage. UnJess Borrower and Lender agree to other terms of payment,
such amounts shall be payahle upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this
paragraph 7 sh¡ùl require Lender to incur any expense or take any action hereunder.
~ -76(WY) (0308)
@
CHL (11/03)
Page 2 of 4
F99J1 3851,
¡ ).1,·, " 'J ) .
Initials:.v y ,_/ '-..I, J ' /._~
./ -:..,
t
~ \, it.', -<: ·1".,1, J~ -'1 4.'
\).F .~, .L~',.1 Ü JL't)
,'. n n ð. ~ Q
·.F \. ~VO
DOC 1D #: 00012067050311005
8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that
Lender sha]] give Borrower notice prior to any such inspection specifying reasonable causc therefor related to Lcnder's interest in
the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or conscqucntial, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and
shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has
priority over this Mortgage.
10. Borrower Not Released; Forhearance By Lender Not a Waiver. Extcnsion of the time for payment or modification
of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate
to release, in any manner, the Jiability of the originaJ Borrower and Borrower's successors in interest. Lender shalJ not be required
to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the
sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's succcssors in interest.
Any forbearance by Lender in exercising any light or remedy hereunder, or otherwise afforded by applicable law, shall not be a
waiver of or preclude the exercise of any such right or remedy.
11. Successors and Assigns Bound; Joint and Several Liahility; Co-signers. The covenants and agreements herein
contained shall bind, ami the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
subject to the provisions of paragraph 16 hercof. All covenants and agreements of Borrower shall bc joint and several. Any
Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and
convey that BOlTower's interest in the Property to Lender under the terms of this Mortgage, (b) is not personally liable on the Note
or unda this 1\10rtgage, and (c) agrees that Lender and any other Borrower hereunder may agree to cxtend, modify, forbear, or
make any other accommodations with regard 10 the terms of lhis Mortgage or the Note without that Borrower's consent and
without reJeasing that Borrower or modifying this Mortgage as to that Borrower's interest in the Property.
12. Notice. Except for any notice required under applicable law to be given in auolher manner, (a) any notice to Borrower
provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any
notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lcnder may
designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given
to Borrower or Lender when given in the manner designated herein.
13. Governing Law; Seven1hi1ity. The state and ]ocallaws applicable to this Mortgage shall be the laws of the jurisdiction
in which the Property is located. The foregoing sentence shaJl not limit the applicability of federal law to this Mortgage. In the
event that any provision or clause of this Mortgage or the Note conflicts wilh applicable law, such conflict shall not affect other
provisions of this Mortgage or the Note which can be given effect without [he conflicting provision, and to this end the provisions
of this Mortgage and the Note are declared to be severable. As used herein, "costs," "expenses" and "allorneys' fees" inc]ude all
sums to the extent not prohibited by applicable Jawor limited hcrein.
14. Borrower's Copy. Borrower shaH be fumished a conformed copy of the Note and of this Mortgage at the time of
execution or after recordation hereof.
15. nehabi1itation Loan Agreement. Borrower shaH fulfill all or Borrower's obligations under any home rehabilitation,
improvement, repair, or other loan agreemcnt which Borrower enters iuto with Lender. Lender, at Lender's option, may require
Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which
Borrower may have against parties who supply labor, materials or services in connection with improvements made 10 the
Property.
16. Transfer of the Property or a Benelicia1 Interest in Borrower. If all or any part of the Property or any interest in it is
soJd or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without
Lender's prior wlitten consent, Lender may, at its option, require immediate payment in fuJl of all sums secured by [his Mortgage.
However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not
less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this
Mortgage. If Borrower fails to pay these sums prior to the expiration of this peliod, Lender may invoke any remedies permitted by
this Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Acceleration; nemedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this lVlortgage, induding the covenants to pay when due any smns secured by this Mortgage,
Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the hreach;
(2) the action required to cure sllch hreach; (3) a date, not less than 10 days from the date the notice is mailed to Borrower,
by whid) such breach must he clIred; and (4) that failure to cure such breach on or hefore the date specilied in the notice
may result in acceleration of the sums secured hy this IVlortgage. The notice shall further inform Borrower of the right to
reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense
of Borrower to acceleration and sale. If the hreacll is not cured on or hefore the date specified in the notice, Lender, at
Lender's option, may declare all of the sums secured by this I\Iortgage to be immediately due and payahle without further
demand and may invoke the power of sale and any other remedies permitted by applicahle law. Lender shall be entitled to
collect all reasonable costs and expenses incurred in pursuing the remedies provided in this paI'agnlph 17, including, hut
not limited to, reasonable attorneys' fees.
H Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in
possession of the Property, if different, in accordance with applicable law. Lender shall mail a copy of a notice of the sale
to Borrower in the manner provided in paragraph 12 hereof. Lender shall Pl1blish the notice of sale and the Property shaH
he sold in the manner prescribed by applicahle law. Lender or Lender's designee may purchase the Property at any sale.
The proceeds of the sale shall be applied in the following order: (a) to all reasonable costs and expenses of the sale,
inclnding, but not limited to, re¡¡sonahle attorneys' fees and costs of title evidence; (h) to all Sl11ns secured hy this
l\Iortgage; ¡¡nd (c) tlle excess, if any, to the person or persons legally entitled thereto.
~ -76(WY) (0308)
®
CHL (11/03)
Page 3 of 4
Form 3851
Initials: í>2('//,lilJ"';2-
/' '
¡ "
\
{} 1, b
r·.
,. '-I n
\.. l} \j 4 5 9
DOC 10 #: 00012067050311005
18. Borrower's Right to Reinstate. Notwithstanding Lender's acceJcration of the sums secured by this t."lorlgage due to
Borrower's breach, Borrower shall have the light to have any proceedings begun by Lender to enforce this Mortgage discontinued
at any time prior to the earlier to occur of (i) the fifth day before sale of the Property pursuant to the power of saJe contained in
this Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) B()JTower pays Lender all sums which would be then due
under this Mortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or
agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing
the covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in
paragraph 17 hereof, including, but not limited to, reasonable attomeys' fees; and (d) Borrower takes such action as Lender may
reasonably require to assure that the lien of this l'vlortgage, Lender's interest in the Property and Borrower's obligation to pay the
sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the
ohligations secured hereby sha]] remain in full force and effect as if no acceleration had occurred.
19. Assignment of Rents; Appointment of Receiver; Lcnder in Possession. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Property, provided that Borrower sltall, prior to acceleration under paragraph 17 hereof
or abandonment of the Property, have the right to collect and retain such rents as they become due and payable.
Upon acceleration under p;u'agraph 17 hereof or abandonment of the Property, and at any time prior to the expiration of any
period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, shall be entitJed to
enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. AJI rents
collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of
rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the
sums secured by this Mortgage. Lender and the receiver shall be liable to account only for those rents actually received.
20. RcJease. Upon payment of all sums secured by this Mortgagè, Lender shall release this Mortgagè without charge to
Borrower. Borrower shall pay all costs of recordation, if any.
21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property.
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
JVIORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, cleed of trust or other encumbrance with a lien which has priority
over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any default under Ihe
superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower has executed this Mortgage.
';:·-----..·7'; . "--v'-·-¡ -,_ .......J,-,
<-_./-
-DENNIS A. REESE
-------:1---:;//-0>. /2 1// -
/ ;' Ie '-/"-- ( /<..__~~
MARLA J. REESE/
c:/
~)
-'l:::'G~~)--i...
(Seal)
- Borrower
(Seal)
- Borrower
(Seal)
- Borrower
(Seal)
- Borrower
(Si¡;1l Ori¡;i"ul Dilly)
STATE OF WYOMING,
Lincoln
County ss:
The foregoing instrument was acknowledged before me this
4th day of NovemlJer, 2005
(date)
by Dennis A. Reese and Marla J. Reese
My Commission Expires:
9-15-07
Ae~ k J2L¡<-~/
/
Notary Public
GLORIA K. BYERS - NOTARY PUBLIC
County of ~1t\ State of
Lincoln ~~ Wyoming
My Commission Expires Sept. 15, 2007
~ -76(WY) (0308)
®
CHL (11/03)
Page 4 of 4
Form 3851