Loading...
HomeMy WebLinkAbout915673 f'-'-if !~~::;.?:fr.:w:::'~ : :~:.:~~.Hr.:·:·~t I, .:j '.I U 0 2 0 4 When recorded return to: Custom Title Solutions 2D2 Dlð 2550 N. Redhill Avenue Santa Ana, CA 92705 (800) 756-3524 ext. 5913 or 5545 RECEIVED 2/1/2006 at 3:56 PM RECEIVING # 915673 BOOK: 611 PAGE: 204 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepared By: SHELLY MCDOUGALD --- -- --- - ..- [Space Above This Line For Recording Data] 2021020 00012486032601006 [Doc ID ,] [Escrow/Closing I] MIN 1001337-0001188281-1 MORTGAGE (Line of Credit) TillS MORTGAGE, dated JANUARY 23, 2006 , is between EARL D JENKINS, AND JILL JENKINS, HUSBAND AND WIFE AS TENANTS BY THE ENTIRETY í J \ ' residing at 10840 STATE HIGHWAY 238, AFTON, WY 83110-9746 the person or persons signing as "Mortgagor(s)" below and hereinafter referred to as "we," "our," or "us" and MORTGAGE ELECfRONIC REGISTRATION SYSTEMS, INC., ("MERS") a Delaware corporation, with an address of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. MERS is the "Mortgagee" under this Mortgage and is acting solely as nominee for Countrywide Bank, N.A. ("Lender" or "you") and its successors and assigns. 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, the premises located at: 10840 STATE HIGHWAY 238 Street AFTON Municipality WY 83110-9746 State ZIP (the "Premises"). LINCOLN County . MERS HELOC - WY Mortgage 2E037-WY (11/04)(d) Page 1 01 5 '"m·~ð' . 2 3 991 . . 1 2 4 8 6 0 3 2 6 0 0 0 0 0 2 E 0 3 7 . I '~:.' C00205 031.5673 DOC ID #: 00012486032601006 and further described as: THE FOLLOWING DESCRIBED TRACT OF LAND IN LINCOLN COUNTY, STATE OF WYOMING, HEREBY RELEASING AND WAIVING ALL RIGHTS UNDER AND BY VIRTUE OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE, TO-WIT: BEGINNING AT A POINT ON THE NORTH BOUNDARY LINE OF SECTION 35, TOWNSHIP 32 NORTH, RANGE 119 WEST, 6TH P.M., WYOMING, THAT IS 20 RODS WEST OF THE NORTHEAST CORNER OF THE NW 1/2 NE 1/4 OF SAID SECTION 35, AND RUNNING THENCE EAST 155 FEET, ALONG SAID NORTH BOUNDARY LINE, THENCE SOUTH 215 FEET, THENCE WEST 69 FEET, THENCE SOUTH 119 FEET, THENCE WEST 86 FEET, THENCE NORTH,334 FEET, MORE OR LESS TO THE POINT OF BEGINNING. WITH THE APPURTENANCES THERETO. The Premises includes all buildings and other improvement<; now or in the future on the Premises and all rights and interest<; which derive from our ownership, use or possession of the Premises and all appurtenances thereto. WE UNDERSTAND and agree that MERS is a separate corporation acting solely as nominee for Lender and Lender's successors and assigns, and holds only legal title to the interest<; granted by us in this Mortgage, but, if necessary to comply with law or custom, MERS (a<; nominee for Lender and Lender's successors and a<;signs) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property, and to take any action required of Lender including, but not limited to, relea<;ing or canceling this Mortgage. LOAN: This Mortgage will secure your loan to us in the principal amount of $ 40, 000 . 00 or so much thereof as may be advanced and readvanced from time to time to EARL D. JENKINS , and the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated JANUARY 23, 2006 , plus interest and costs, late charges and all othercharges related to the loan, all of which sums are repayable according to the Note. This Mortgage will also secure the perfoonance of all of the promises and agreements made by us and each Borrower and Co-Signer in the Note, all of our promises and agreement<; in this Mortgage, any extensions, renewals, amendments, supplements and other modifications of the Note, and any amount<; advanced by you under the teons 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 teons of the Note and subject to the Credit Limit set forth in the Note. OWNERSIDP: We are the sole owner(s) of the 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 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 noonaJ 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 illegaJly. If this Mortgage is on a unit in a condominium or a planned unit development, we shall perfoon all of our obligations under the declaration or covenant<; 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 rea<;onable approvaJ. 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 a<; "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 wrinen notice of any cancellation or reduction in coverage, for any reac;on. 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. · Me;RS HELOC - WY Mortgage 2E037-WY (11/04) Page 2 of 5 IO·~t . ~.i":':J,,:' '. ". ~':"'~:':: '-. "\ ·'·I'.I'·I;' t·~·.,¡,¡~j &ilimili±il &\-" .--......'7 ~;lli~mf;mm~~~;~~~ QS1.S673 t"I 0 t' u'" 6 Uu¿ DOC ID #: 00012486032601006 (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 shaH be paid to you, subject to the tenns of any Prior Mortgage. (e) SECURITY INTEREST: We will join with you in signing and filing document<; 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. It is agreed that the Lender shaH be subrogated to the claims and liens of all parties whose claims or liens are discharged or paid with the proceeds of the Agreement secured hereby. (t) OUR AUTHORITY TO YOU: If we fail to perfonn our obligations under this Mortgage, you may, if you choose, perfonn 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 cost<; necessary to keep the Premises in good condition and repair or to perfonn any of our other agreement<; 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 failureto perfonn our promises in this Mortgage. Any replacement insumnce 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 11/01/2005 and given by us to COUNTRYWIDE HOME LOANS, INC. as mortgagee, in the original amount of $ 154,000.00 (the "Prior Mortgage"). We shall not increa<;e, 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 perfonn all of our obligations under the Prior Mortgage as and when required under the Prior Mortgage. (h) HAZARDOUS SUBSTANCES: We shall not cause or pennit 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 nonnal 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 fonnaldehyde, and radioactive materials. As used in this paragmph, "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 pennit any other lien or claim against the Premises without your prior written consent. G) INSPECTION: We will pennit you to inspect the Premises at any reasonable time. NO LOSS OF RIGHTS: The Note and this Mortgage may be negotiated or a<;signed 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 of default as described in 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 judi~ial foreclosure, at your option, a<; provided by law, in order to payoff what we owe on the Note and under this Mortgage. If the money you receive from the sale is not enough to payoff what we oweyou, 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 payment<;, directly from tenant<; after simply notifying them first class mail to make rental payment<; to you; (iii) manage the Premises; and (iv) sign, cancel and change lea<;es. 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 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. . MERS HELOC - WY Mortgage 2E037-WY (11/04) Page 3 of 5 '".,~ ~. ~ 031.'5673 ,'" ('\ 02' ,., 7 \·'lJ lJ, DOC ID #: 00012486032601006 WAIVERS: To the extent pennitted 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 shaH 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 tenninated, 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 tenninated, 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 For MERS: P.O. Box 2026, Flint, MI 48501-2026 For Lender: 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 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 tenninated, 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. WITNESS: L· (SEAL) Mortgagor: ~~ ~~. JI JENKINS ' Mo gor: (SEAL) (SEAL) Mortgagor: (SEAL) Mortgagor: . MERS HELOC - WY Mortgage 2E037-WY (11/04) Page 4 of 5 r.~::::¡:¡:¡¡,~ .,., "j'¡,I. 1¡,1¡..'.L_'_:1.. ':<':4.¿.:J.-"··-·-- ~~I;;!{~~;~i~¡;¡~~~lili ,f , ~ .. . ',';' "j':;';\""";' ;':, .'.-~ "(J<::",'.,',.',..',>,"""O.,..,'','" ' '··.."·"""'-93 '. >; '\ ' i' , ~ ;1..." , ','., " . .. . F ¡ . .::J ,.",,"'..,' ,., >, . -~'- i~m:::::m*:~::~~ . !N~~~~:!:~:~:~:!:':': ", f' (1 t) "'¡ 8 '" d '--'f... L STATE OF WYOMING, DOC ID #: 00012486032601006 County ss: The foregoing instrument was acknowledged before me this by . , . I'\... (person acknowledging) t/ðUr,'.e. ~"'~r......(..( dp~ /7, ~(X)~ ~4~~A ~ '-;LLd~ Notary Public VC\ Ie r(e ~. ttJre 1\ My Commission Expires: VALERIE K/ITFlE~L - NOTARY PUBLIC County of Lincoln State of WyomIng My Commlss/on ExpIres April 19, 2008 . MERS HELOC - WY Mortgage 2E037-WY (11/04) Page 5 of 5 ""Iti"'~