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Home My WebLink About914683 51216 (01) -/ l r'ì {'; ..;~ (\. I,) .) ~.: ..t "j ~ After Recording Return To: COUNTRYWIDE HOME LOANS, INC. MS SV-79 DOCUMENT PROCESSING P.O. Box 10423 Van Nuys, CA 91410-0423 RECEIVED 12/23/2005 at 8.57 AM RECEIVING # 914683 BOOK 608 PAGE: 132 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepan~d By: REBECCA STEVENSON [Space Above This Line For Recording Data] ----~~~-~ 51216 00012133296312005 [EseroVl/Clusin'j #J [Due TD U] ~1IN 1001337-0000879918-4 MORTGAGE (Line of Credi t) TIllS MORTGAGE, dated DECEI'1BER 15, 2005 WILLIAl'1 l\ ESPERSON, A SINGLE 1'1..1\1'1 , is between ¿- .J residing at 426 MEADOWS DRIVE, ALPINE, WY 83128 the person or persuns signing as "Morlgagor(s)" below and hereinafter referred to as "we," "our," or "us" and MORTGACJE ELECTRONIC REGISTRATION SYSTEtvlS, INC., ("MERS") a Delaw,u-e corporation, with an address of P.O. Box 2026, Flint, MI 4g50]-2026, tel. (g88) 679-MERS. !\JERS is the "Mortgagee" under this Mortgage and is acting solely as nominee for Countrywlde BanK, N.A. ("Lender" or "you") and its successors and assigns. J ti MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby mortgage, grant and cOllvey to MERS (so]ely as nominee for Lender and Lender's successors and assigns) and to the successors anel assigns of MERS, the premises located at: 426 MEADOWS DRIVE S tred ALPINE LINCOLN !~ f'; ) r¡n ivlunicipality 83128 County Slate ZIP (the "Premises"). . MEfiS HELOC WY Mortgage 2E037-WY (11/D4)(d) Page 1 of 5 À\ /1 Illitials{\) ~ '23991' , 121 3 3 296 3 0 0 0 0 0 2 E 037 . " '~,' /¡-," ·i-,.~·: -..-:~ :i }. ,~-:Ì ,~~: '(~""':J J C". I-I ('. '·,1 '1 ':) , \)~:.6.. ,) J DOC 1D #: 00012133296312005 and further described as: LOT 16, THREE RIVERS IvlEADOVvS ES'LI\TES SUBDIVISION "A", ACCORDING TO THE PLÞ.T OF RECORD IN THE OFFICE OF THE LINCOLN CLERK, LINCOLN COUNTY, WYOMING. The Premises includes aJ] buildings and other improvements now or in the future on the Premises and all rights and interests which elerive from our ownership, use or possession of the Premises and a]] appurtenances thereto. WE UNDERSTAND and agree that MERS is a sep,U-ale corporation acting solely as nominee for Lender and Lender's successors and assigns, and hulds only legal ti[k to the interests granted by us in this ~lortgage, but, jf necessary to comply with Jaw or custom, MERS (as nominee for Lender and Lender's successors and assigns) has [he right: to exercise any or aJ] of those interests, incJuding, but not limited to, the right to foreclose and sell the Property, and lo lake any action required of Lender including, but not limited to, releasing or canceling this Mortgage. LOAN: This Mortgage wi]] secure your Joan to us in Ihe principal amount of $ 52, 500 . 00 much ¡hereof as may be advanced and readvanced from time to time to WILLIAM A. ESPERSON orso , and the Borrower(s) undcr thc Home Equity Credit Line Agrcement ami Disclosure Statcment (the "Note") dated DECEMBER 15, 2005 , plus interest and costs, late charges and all othercharges related to Ihe Joan, all of which sums .u·e repayable according to the Note. This Morlgage will also seeure the perforrnance of all of the promises and agreements made by us and each Borrower and Co-Signer in the Note, a]] of our promises and agreemenls in this Mortgage, any extensions, renewals, amendmenls, supplements and other modifications of the Note, aIllI 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 thc Premises. We have the legal right to mortgage the Premises to you. OUR 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 wi]] 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) IvlA]NTENANCE: We will maintain the building(s) on the Premises in good condition. We will not make major changes in the building(s) except for nOilllal repairs. We wiIJ not tem down any of thc bnilding(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 shaH perfonn all of our obligations uncleI' the clechu-ation 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 Joss by fire, flood and any other hazards you may specify. \Ve may choose the insurance company, but our choice is subjcct 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 uf the insurance. The policies must name you as "mortgagee" and "loss-payee" so that you wi] receive payment on all insurance claims, 10 the ex lent of your interest under this Mortgage, before we do. The insurance poJicies must also provide that you be given not less than ]() days prior written notice of any cancellation or reduction in cuverage, for any reason. Upon request, we shall deliver the policies, certificates or other evidence of insurance [0 you. In the event of loss or darnage 10 the Premises, we wi]] immediately notify you in writing and file a proof of loss with the insurer. You may file a proof of Joss on our behalf if we fail or refuse to do so. You may also sign our name to any check, draI'L or othcr order for lhe payment of insurance proceeels in the event of loss or damage to the Premises. If you receive payment of a claim, you will have the right 10 choose to use the money either to repair the Premises OJ to reduce the amounl owing on the Note. . MEfiS HELOC - WY Morigage 2E031-WY (11/04) Page 2 of 5 Initials tv G r-: (': .~ ' ...~ i\ ... '. . .\...~! .( '~, ;: '. '; .~_., C \.;0 DOC ID #: 00012133296312005 (d) CONDEtvlNATlON: We assign to you the proceeds of any award or claim for damages, direcL or consequenLial, in connecLion with any condemnaLion or other taking of the Premises, or parL Lhercof, ur for conveyance in lieu uf condemnation, all of which shall be paid to you, subjcct to the tenns of any Prior IV!orLgage. (e) SECURITY INTEREST: We wil! join with you in signing and filing documents and, at our expense, in doing whaLever you believe is necess,u-y LO perfecL and conLinue the perfection of your lien and securiLY interest in the Premises. It is agreed thaL the Lender shall be subrogated to the claims and liens of al1 parties who.'x claims or Jiens ,u'e discharged or paid wiLh the proceeds of the Agreement secured hereby. (0 OUR AUTHORITY TO YOU: If we fail 10 perform our obligations under this Mortgage, you may, if you choose, perform our obJigations and pay such cosLs anel expenses. You will add ¡he amounLS you advancc to the sllIns owing on the Note, on which you will chmge interest aL the intefCst rate set forth in the Note. If, for example, we fail to honor our promises to maintain insurance in effecL, or to pay filing fees, taxes or the COSLS necessary to keep the Premises in good condiLion and repair or to perform any of our oLher agreemenLs with you, you may, if you choose, advance any sums to satisfy any of our agreemenLs with you and charge us interesL on such advanccs at the inLerest raLe set forth in the Note. This MorLgage secmes al1 such advances. Your pay men Is on om behalf wiJl not cure our failure to perform our promises in this Mortgage. Any replacemenL insurance Lhat you obtain to cover loss or damages to the Premises may be limiLed to the amount owing on the Note plus the amounL of any Prior Mortgages. (g) PT<IOR MORTCJAGE: If the provisions of Lhis paragraph are completed, this MorLgage is subject and subordinaLe to a prior mortgage daled 07/2') / 2 0 0 3 and given by us to COUNTRYWIDE HOME LOANS, INC. as mortgagee, in the original amounL of $ 110, 000.00 (the "Prior Mortgage"). We shall nOL increase, amend or modify the Prior Mortgage without your prior wrillen consent and shalI upon receipt of any written nOLice from the holder of the Prior Mortgage prompLly deliver a copy of such nOLice to you. We shaJl pay and pc;rform all of our obligations under the Prior Mortgage as and when required under the Prior Mortgage. (h) HAZARDOUS SUBSTANCES: We shall not cause or permiL the presence, use, disposal, sLorage, or release of any Hazw'dous Substances on or in the Premises. We shal1noL do, nor alIow anyone else to do, anything affecLing the Premises that is in violaLion of any EnvironmenLal Law. The preccding two sentences shal1 nOL apply to the presence, use, or storage on the Premises of small quantities of Hazardous SubsLances thaL are generalIy recognized to be apprupriate to normal residential uses and LO mainLenance of the Premises. As used in Lhis paragraph, "Hazardous Substances" are those substances ddïned as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other llammabJe or toxic petro]eurn products, toxic pesticides anel herbicides, volatile solvenLs, maLerials conLaining asbestos or fonnaldehyde, and radioactive maLerials. As used in Lhis paragraph, "EnvironmenLal Law" means federal Jaws and laws of the jlllisdiction where the Premises are located thaL relale to health, safeLy or environmental proLecLion. (i) SALE OF PREMISES: We will noL sel1, Lransfer ownership of, mortgage or otherwise dispose of our inLcresL in the Pn:mises, in whole or in part, or perIniL any other lien or claim against the Premises wiLhout your prior wriLlen consent. U) 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 wiLhout releasing us or Lhe Premises. You may ade! or release any person or property ob]igaLed under the NOLe aIll] Lhis Mortgage wiLhoUL losing your righLs in the Premises. DEFAULT: ExcepL as may be prohibited by applicable Jaw, and subject to any advancc notice and cure period if required by applicable law, if ,my evenL or condition of default as described in the Note occurs, you may forec]ose upon this J'vlortgage. This means that you may arrange for the Premises to be sold by aelvertisernent aud sale or by judicial forcL"losure, aL your option, as provided by law, in order Lo payoff whaL we owe on the Note and under this Mortgage. If the money you receive from the sale is not enough lO payoff what we owe you, we will still owe you the difference whid¡ you may seek to collect from us in accordance with app]icable law. In addirion, you may, in accordance with applicable law, (i) enter on and take possession of the Premises; (ii) collect the rental payments, including (wer-due rental paymenLs, directly from tenants alkr simply nOLifying Lhem first c]ass mail to make rental paymenLs Lo you; (iii) manage the Premises; and (iv) sign, cancel amI change Jeases. We agrec that the inlèrest rate SCl forth In the Note will conLinue before and after a defaulL, entry of a judgmenL ,mt! fOíeclosure. In addition, you shall be entitled to collect all reasonable fees and costs actually incurred by you in proceeding to foreclosure, ineluding, hUL nO[ limited LO, rcasonable aLlOllleys fees and costs of documcntary evidence, abstracLS ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additionaJ security, we assign LO you the rcnLs of the Premises. You or a receiver appointeel by the courLs shall be entitled Lo enter upon, take possession of and manage the Premises and collecL the rents of tile Premise., including Lhose pasL due aUer simpJy notifying them by first class mail LO make rental paymenLs to you. . MEIiS HEI_OC· WY Mortgage 2[1J:J7-WY (t 1/04) Page 3 of 5 Inilials: CJ4/ , d~~]· :,~-~ C) C; ~L !:~: ~) DOC ID #: 00012133296312005 WAIVERS: To the extent permitted by applicable law, we waive :U1d release any error or defects in proceedings to enforce this Mortgagè and hereby waive the benefit of any present or future Jaws providing for stay of execution, extension of time, exemption from attachment, Jevy and sale and homestead exemption. BTNDINCj EFFECT: Each of us shall be fully responsibJe for all of the promises alld agreements ill this Mortgage. Until the Note has been paid in full and your obligation to make further advances tmder the Note has been tenninatèd, the provisions of this Mortgage will be binding on us, our legal representatives, our hèirs alld all future owners of Llle Pœmises. This !v10rtgage is for your benefit and for the benefit of anyone to whom you may assign it. Upon paymenl in full of all amounts owing to you under the Note and this Mortgage, anel provided allY obligation to make further advances under the Note has terminated, this tvlo rl gage and your rights in the Premises shall ènd. NOT]CE: Except for any notice rèC]uired undu applicable law to be given in another manner, (a) any notice to liS provided for in this Mortgage shall be given by delivering it or by mailing such Ilotice by rcgu1ar first class mail addressed to us at the last address appearing in your rtcords or at such other address as we may dtsignate by notice to you as provided herein, and (b) any notice to you shall be givtIl by certifièd mail, return rcceipt requested, to your address at For MERS: P.O. Box 2026, Flint, MI 4850]-2026 For Lcnder: 1199 North Fairfax St. Ste.500, Alexandria, VA 22314 or to such other address as you may designate by notice to us. Any notice provided for in this ìvlortgage shall be deemeel to have becn given to us or you when givcn in the manner designateel herein. I<.ELEASE: Upon payment of all sums secured by this Mortgage and provilkd your obligation to make further advances undèr the Notè has tem1inated, you shall discharge this Mortgage without chargè to us, exccpt that Wè shall pay any feès for recording of a satisfaction of this tV[Orlgagè. GENERAL: You can waive or delay ènforcing any of your rights under this Mortgagc without losing them. Any waivcr by you of any provisions of this Mortgagè will not be a waivu of that or any other provision on any other occasIOn. THIS MORTGAGE has been signed by èach of us under seal on the date first above wrillen. WITNESS: [JJJ- lire C.~=.__,,_ (SEAL) WILLIAM A. ESPERSON 1\1ortgagor: (SEAL) Mortgagor: (SEAL) Mortgagor: (SEAL) Mortgagor: . MI::F1S HELOC· WY Mortgage 2EU37WY (11/04) Page 4 of 5 ~ ' ~' I ¡ )~'~. i, STATE OF YVYOMING, :" n [':.~ ') (> ',' ,) \....:....:.L.......' U DOC ID #: 00012133296312005 -~r;:.::· (-(\/~) COLI n L y ss: J ~)'.' - ('- -('( ,,'-- '. ') ..Å.~ The foregoing instrument was acknowJeclgecJ bcfore me this by My Commission Expires: . MEeRS ¡¡HOC, WY Murtgage 2E037~WY (11!lJ4) ( ),. ') lJJ,.J~RJr~) (p~rsull .lL kilo" ledgl ng) {7~la '-C)~'} Page 5 of 5 r\ ...-. .__, (dale) "C ?> ~-Cr;-\ C-\¡I..,,) f"r\ {~ \\ L L (, .. G;~}e_ \ - N 'Jt.try-.Þubhc 1 ~'''1w''-<I...,.-,~,-"""-"""",-""/""-~-~---,,,,--,,,,r'''o;.... LAURIE COE· NOTAny PUf3UC ~ Co~nty 01 f'~:ff.0~ St~t~ of ~ leton 0i.'rdJ Wyurlllng ( My Commission 'E:P~~~ InltialS:CÙ Cl /,/