HomeMy WebLinkAbout914674
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When recorded return to:
Custom Title Solutions
2550 N. Redhill Ave.
Santa Ana, CA 92705
(800)756-3524 ext. 5545
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Prepared By:
vvl~NDA V./,TANI\PI<ATEPAEŒ1
RECEIVED 12/22/2005 at 3: 17 PM
RECEIVING # 914674
BOOK: 608 PAGE: 86
JEANNE WAGNER
liNCOLN COUNTY CLERK, KEMMERER, WY
I\fN : Jl\I1b~ÖOO \ JOO
[Space Ahol'e This Line For Ilel'ording Data]
1832200
00012132691911005
[Escrow/Closing II
[Doc ID II
MORTGAGE
THIS MORTGAGE is made this 18 t h day of NOVEMBER, 2005 , between the Mortgagor,
JULIE WADE, AND DAVID C WADE, WIFE AND HUSBAND, AS TENANTS BY THE ENTIRETIES, THEIR
HEIRS AND ASSIGNS, FOREVER
10
(herein "Borrower"), ~md the Mortgagee,
Countrywide Bank, N.A.
A NATL. ASSN. organized and existing under
the Jaws of THE UNITED STATES , whose address is
1199 North Falrfax St. Ste.500, Alexandria, VA 22314
(herein "Lender").
WHEREAS, Borrower is indebted to Lender in the principaJ sum of U.S. $ 60, 000.00 , which indebtedness is
evidenced by Borrower's note dated NOVEMBER 18, 2005 and extensions and renewals thereof (herein "Note"),
providing for rnonth]y installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable
on DECEt1BEE 01, 2020
TO SECURE 10 Lender the repayment of the indebtedness evidenced by the NOle, Wilh interest thereon; the payment of all
other sums, with interest thereon, advanced in accordance herewith lO prolect the security of this Mortgage; ami the performance
of the covenants and agreements of Borrower herein containecl, Borrower does hereby mortgage, grant and convey to Lender,
with power of sale, the following (kscribed properly located in the County of LINCOLN
State of Wyoming:
SEE EXHIBIT "]\" ATTACHED HERETO AND MADE A PARI HEREOF.
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THIS DOCUMENT i~, filED fan
RECORD BY FIDELITY NATIONAL
TITLE INS. CO. AS AN ACCOMMODATION
ONLY IT HAS NOl BEEN EXAMINED
AS To' ITS EXECUTION OR AS TO ITS
EFFECT UPON TIlE TITLE.
which has the address of
48 ULt1ER SPUR
[Slreel]
(herein "Property Address");
THAYNE ,Wyoming 83127
[City] [Zip Code]
TOGETHEH. with aJ! the improvements now or hereafter erected 011 the property, and all easements, rights, appurtenances
and rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing,
together with said property (or the leasehold estate if this Mortgage is on a leasehold) arc hereinafter referred to as the "Property."
Borrower covenants that Borrower is JawfuIJy seised of the estate hereby conveyed and has the right to mortgage, granl and
eOllvey lhe Property, and [hat lhe Property is unencumbered, except for encllmbrallces of record. Borrower covenants that
WYOMING - SECOND MORTGAGE - 1/80 - FNMA/FHLMC UNIFORM INSTRUMENT
C -76(WY) (0308)
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CHL (11/03)(d)
Page 1 of 4
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DOC 10 #: 00012132691911005
Borrower warrants and wiJl defend generalJy the title to the Propèrty against alJ claims and demands, subjèctto encumbrances of
record.
UNIFORl'vl COVENANTS. Borrower and Lender covenant and agree as foljows:
L Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness
evidenced by the Note and late charges as provided in lhe Note.
2. Funds for Taxes and JnslIrance. Subject to applicable law or a writlen waiver by Lender, Borrower shaJl pay to Lender
on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein
"Funds") equal to one-tweJfth of the yearly taxes and assessments (including condominium and planned unit deveJopment
assessments, if any) which may allain priority over this Mortgage and ground rents on {he Property, if any, plus one-twelfth of
yearly premium installments for hazard insurance, plus one-tweJfth of yearly premimn instaJlments for mortgage insurance, if any,
all as reasonably estimated initially and from time to tirne by Lender on the basis of assessments and bills and reasonable
estimates thereof. Borrower shal1 not be obligated to make such payments of Funds to Lender to the extent that Borrower makes
such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender.
If Borrower pays Funds to Lender, the Funds shall he held in an institution the deposits or accounts of which are insured or
guarantl:ed by a federal or state agency (inl' uding Lender if Lender is such an instilution). Lender shall apply the Funds to pay
said taxes, assessments, insurance premiums and ground rents. Lemler Iìlay not charge flJr so holding and applying the Funds,
anaJYl.ing said account or verifying and compiling said assessments and bilLs, unless Lender pays Borrower interest on the Funds
and applicable law permits Lender to make such a charge. Borrower amI Lemler may agree in writing at the time of execution of
this Mortgage that interest on the Funds shall bë paid to Borrower, and unless such agrt:ement is rnadc or applicable law requires
such interest to be paid, Lender shaIJ not be required to pay Borrower any interest or e,UllÎngs on the Funds. Lender shal1 give 10
Borrowër, withoUl charge, an annual accounting of the Funds showing credits am! debits to the Funds and thë purposë for which
each debit to the Funds was madc. The Funds arc pledged as additional security for the stuns secured by this Mortgage.
If the amount of the Funds held by Lender, together with the future monthly instaJlments of Funds payabk prior to the due
dates of taxes, assessments, insurance premiums and ground rents, shaJJ exceed the amount required to pay said taxes,
assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly
repaid to Borrower or credited to Borrower on monthly installments of Funds. If Ihe amount of the Funds held by Lender shaJl not
be sufficient lO pay taxes, aSsëssmenlS, insurance premiums and ground rents as they faJl due, Borrowër shal] pay to Lender any
amount necessary to make up thë deficiency in onë or more payments as Lender may require.
Upon payment in fuIJ of aJl surns secured by this ¡Vfortgage, Lender shall promptly refund to Borrower any Funds held by
Lender. If under paragraph 17 hereof the Propërty is sold or the Property is olhërwise acquired by Lender, Lender shall apply, no
later than immediately prior to the sak of the Property or its acquisilion by Lender, any Funds hejd by Lender at the time of
appJicalion as a credit against the sums secured by this Mortgage.
3. Application of Payments. Unless applicabk Jaw provides otherwise, all payments received by Lender under the Note
and paragraphs] and 2 heœof shal1 be applied by Lender first in paymcnt of amounts payable to Lender by Borrower under
paragraph 2 hereof, then to interest payable on the Note, and then 10 the principal of the Note.
4. Prior 1Vlortgages and Deeds o{' Trust; Charges; Liens. Borrowër shall perform all of Borrower's obligations under any
mortgage, deed of trust or olher security agreement with a ]¡en which has priority over this Mortgage, including BOITower's
covenants to make payments when due. Borrower shall payor cause to be paid all [axes, assessments and other charges, fines and
impositions atlributab1e to the Property which lllay attain a priority over this Mortgage, and leasehold payments or ground rents, if
any.
5. Hazard Insurance. Borrower shaIJ keep the improvëments now existing or hereafter erected on the Property insured
against loss by fire, hazards includëd within thë term "extended coverage," and such other hazards as Lënder Inay require and in
such Hlí)Ounts and for such periods as Lender may require.
The insurance carrie. providing the insurance shaJl be chosen by Borrower subject to approval by Lender; provided, that
such approval shaJJ not be unreasonably withheJd. AJJ insurance policies and renëwals thereof shaJl be in a form acceptable to
Lender and shaIJ include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender shaJl have thë right to
holdlhe policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other security agrëement with a Jien
which has priority over this Mortgage.
In the event of lo'ss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of Joss 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
maiJcd by Lender to Borrower that the insurancc carrier otTers to settle a cl,úm for insurance benefits, Lender is authorized to
collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to thë sums secured by
this Mortgage.
6. Preservation and !\'Iaintenance of Properly; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shal1 keep the Property in good repair and shall not comrnit waste or permit impairment or deterioration of the Properly and shall
comply with the provisions of any lease if this Mortgage is on a lease/lOld. If this Mortgage is on a unit in a condominium or a
planned unit developIÌlent, Borrower shall perform a11 of Borrower's obligations under the declaration or covenants creating or
governing the condominium or planned unit developmenl, the by-laws and regulations of the condominium or planned unit
(kvelopment, and constituenl documents.
7. Protedion or Lender's Secllri!y, If Borrower fails to perform lhe covenants and agreemenls contained in this Mortgage,
or if any action or procceding is cornmenced which materially affects Lender's interest in the Property, then Lender, at Lendds
uption, upon notice to Borrower, may make such appearances, disburse such sums, jncJuding reasonable attoll1eys' fees, and take
such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan
secured by lhis Mortgage, Borrower shaJl pay the premiums required to maintain such insurance in effect unlil such lime as the
requirement for such insurance lerminates in accordance with Borrower's and Lender's wrillën agreement or applicabk Jaw.
Any amounts disbursed by Lender pursuant to lhis paragraph 7, wi th interest thereon, at the Note rate, shaH become
additional indebtedness of Borrower secured by this Mortgagë. Unless Borrower and Lender agree to other terms of payment,
such amounts shaH be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this
paragraph 7 shaH require Lender to incur any expense or take any action hereunder.
~ -76(WY) (0308)
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CHL (11/03)
Page 2 of 4
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DOC 1D #; 00012132691911005
8. Inspedion. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that
Lender shal1 give Borrower notice prior to any such inspection specifying reasonable cause therefor rdated to Lender's jnlerest in
the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
ClJIIllemnation or other laking of the Properly, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and
shall be paid to Lender, subject to the tenns of any mortgage, deed of trust or other security agrcement with a lien which has
priority over this Mortgage.
](J. Borrower Not Released; FOI'heanlllce By Lender Not a Waiver. Extension of the [ime for payment or modification
of amortization of the sums secured by this Mortgage grantl:d by Lender to any successor in interest of Borrower shall nO[ operate
to release, in any mauner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be ¡yquired
to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the
Slnns secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by appJicable Jaw, sha ] not be a
waiver of or preclude the exercise of any such right or remedy.
11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
contained sha ] bind, and lhc rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
subject to the provisions of paragraph 16 hereof. AU covenants and agreements of Borrower sha ] be 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 Borrower's interest in Ihe Property to Lender under the terms of this tvlortgage, (b) is not personally liable on the Note
or under this Mortgage, and (c) agrees that Lender and any other Borrower hereuuder may agree to extend, modify, forbear, or
make any olher accommodations with regard to the tenns or this j\!ortgage or the Note without that Borrower's consent and
without rekasing 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 another manner, (a) any notice to Bon'ower
provided for in this Mortgage shalJ 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 staled herein or to such other address as Lender may
designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given
10 Borrower or Lender when given in the manner designated herein.
13. Governing Law; Severability. The slate and Jocal laws applicab]e to this Mortgage shaJJ be the Jaws of the jurisdiction
in which the Property is located. The foregoing sentence sha]] not limit [he applicability of federal Jaw to this Mortgage. In the
eveut that any provision or clause of this Mortgage or the NOLl' conflicts with applicable Jaw, such confJict shall not affect other
provisions or this Mortgage or the Note which can be given effect wilhoulthe conflicting provision, and to Ihis end the provisions
of this Mortgage and lhe Note are declared to be severable. As used herein, "costs," "expenses" and "attorneys' fees" include a]]
slims to the extent not prohibited by applicable law or limited herein.
14. Borrower's Copy. Borrower shaJl be furnished a conformed copy of the Note and of this Mortgage at the time of
execution or after recordation hereof.
15. Rehabilitation Loan Agreement. Borrower shaJl flllfiJl all of Borrower's obligations lindeI' any home rehabilitation,
improvement, repair, or other loan agreernent which Borrower enters into with Lender. Lender, at Lender's option, may require
Borrower to ~~xecute 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 geneficial Interest in Borrower, If al1 or any part of the Property or any interest in it is
sold or transferred (or if a beneficial interest in Borrower is so]d or transferred and Borrower is not a natural person) without
Lender's prior written consent, Lender may, at its option, require immediate payment in full of aU sums secured by this Mortgage.
However, this option shan 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 shalJ 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 period, Lender may invoke any remedies permitled by
Ihis Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as folJows:
17. Accelel"ation; Remedies. Except as provided in par"agraph ] 6 hereof, upon Borrower's breach of any covenant 01"
agreement of Borrower in this Mortgage, including the covenants to pay when due any SIlins secured by this Mortgage,
Lender prior to acceleration shall give nolice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach;
(2) the action required to cure such hreach; (3) a dale, no[ less than 10 days from [he date the notice is mailed to Borrower,
by which such breach must he cured; and (4) [hat ('ailure to cure stIch breach on or before [he date specitied in the notice
may result in accelel"ation of the sums secured hy this l\Jortgage. The notice shall further inform Borrower 0(' the right to
reinstate after acceleralion and [he right to Iwing a court action to assert the nonexis[cnce of a default or any other dd'ense
of Borrower [0 acceleration and sale. If the breach is not cured on or before [he date specified in the no [ice, Lender, at
Lender's option, may declare all of the sums secured by this Mortgage to be immediately due and payable without further
demand and may invoke the power of sale and any otber remedies permitted by applicable law. Lender shall he entitled to
coiled all reasonable costs and expenses incurred in pursuing [he remedies Pl'ovided in this paragraph 17, including, but
not limited to, n~asonable attorneys' fees.
If Lende¡" invokes the powel- 01' sale, Lender shall give notice 0(' intent to I'oreclose to Borrower and to the pel'son in
possession of the PJ"Operty, il' different, in accordance with applicahle law. Lendel' shall JIlail a copy 01' a notice 01' the sale
to BO/Tower in the manner pJ"Ovided in parag¡"aph 12 hereof. Lender shall publish the notice 01' sale and the Property shall
be sold in the manner prescribed by applicable 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,
including, but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this
Mortgage; and (c) the excess, if any, to [he person or persons legally entitled [hereto.
G -76(WY) (0308)
Q9
CHL (11/03)
Page 3 of 4
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DOC ID #: 00012132691911005
18. Borrower's Right to Reinstate. Not withstanding Lèndèr's accelèratiun of the Stll11S secured by this Mortgage dUè to
Borrowds brèach, Borrowèr shall have the right 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 sale contained in
Ihis Mortgage or Oi) entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due
under this rvIortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or
agreèIllents of Borrower contained in this Mortgage; (c) Borrower pays al1 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 allorneys' fees; am! (d) Borrower takes such action as Lender may
reasonably require to assure that the lien of this l'vIortgage, Lender's interest in the Property and Borrower's obligation to pay the
SllIns secured by this Mortgage shaJl continue unimpaired. Upon such payment and cure by B01Tower, this Mortgage and the
obligations secured hereby shaJJ remain in full force and effect as if no acceleration had occurred.
19. Assignment of' Rents; Appointment of' Receiver; Lender in Possession. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof
or abandonment of the Propeny, have the right to coIlect and retain such rents as they become due and payable.
Upon acceleration under paragraph 17 hereof or abandonment of the Property, amI at any time prior to [he expiration of any
period of redemption following judicial sale, Lender, in person, by agent or by judiciaIly 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 clue. All rents
coIlected by Lender or the receiver shaIl be applied first to payment of the costs of management of the Property and collection of
renrs, 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 recei ver shall be liable to account only for those rents actually received.
20. Release. Upon payment of aU sums secured by this Mortgage, Lender shall reJease this Mortgage without charge to
Borrower. Borrower shaJl pay all costs of recordation, if any.
21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in lhe Properly.
REQUEST FOR NOTICE OF DEFA ULT
AND F01ŒCLOSUJŒ UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance Wilh a lien which has pJiority
over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any defauJi under the
superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower has executed this Mortgage.
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DAVID C. WADE
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- Borrower
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- Borrower
(Seal)
- Borrower
(Seal)
- Borrower
The foregoing inslnJInent was acknowJedged before me this
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LVNDA M. HEALEY
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G -76(WY) (0308)
C!J
CHL (11/03)
I' age 4 of 4
Form 3851
APN Number 34192640001300
Order No.: 1832200
EXHIBIT "A"
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ALL THE FOLLOWING DESCRIBED PREMISES, TO-WIT:
LOT 39 OF RIVERVIEW RANCHETTES SUBDIVISION, THIRD FILING. LINCOLN COUNTY,
WYOMING.
WITH THE APPURTENANCES THERETO.
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