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SCOTT STEPHENS
RECEIVED 4/18/2006 at 2:56 PM
RECEIVING # 917574
BOOK: 617 PAGE: 236
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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MORTGAGE
00013473253003006
[Doc ID #]
THIS MORTGAGE is made this 5th day of APRIL, 2006
GORDON BELL, AND DONNA BELL Husband and Wife T /B/E
, between the MOligagor,
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(herein "BolTower"), and the MOligagee,
COUNTRYWIDE HOME LOANS, INC.
A CORPORATION organized and existing undel'
the laws of NEW YORK , whose address is
4500 Park Granada MSN# SVB-314, Calabasas, CA 91302-1613
(herein "Lender"),
WHEREAS, BOITOwer is indebted to Lender in the principal sum ofU,S, $ 40, 000.00 , which indebtedness is
evidenced by Borrower's note dated APRIL 05, 2006 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 MAY 01, 2021
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 Mortgage; and the perfonnance
of the covenants and agreements of BOlTower herein contained, Bon'ower does hereby mOligage, grant and convey to Lender,
with power of sale, the following described property located in the County of LINCOLN
State of Wyoming:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
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which has the address of
525 BUTTE DRIVE
[Street]
(herein "Property Address");
THAYNE , Wyoming 83127
[City] [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 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) are hereinafter refelTed to as the "Property,"
Borrower covenants that BOlTower 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, BOlTower covenants that
WYOMING - SECOND MORTGAGE· 1/80 - FNMAlFHLMC UNIFORM INSTRUMENT
Form 3851
. .76(WY) (0308]
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CHL (09/05)(d)
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0917574
DOC ID #: 00013473253003006
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of
record. .
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of PI'incipal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness
evidenced by the Note and late charges as provided in the Note,
2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Bon'ower shaIl pay to Lender
on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in fuIl, a sum (herein
"Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned unit development
assessments, if any) which may attain priority over this Mortg!ige and ground rents on the Property, if any, plus one-twelfth of
yearly premium instaIlments for hazard insurance, plus one-twelfth of yearly premium instaIlments for mOl1gage insurance, ifany,
all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable
estimates thereof. Borrower shaIl 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 shaIl 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 shaIl 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 01' 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. BOlTower and Lender may agree in writing at the time of execution of
this Mortgage that interest on the Funds shaIl be paid to BOlTower, and unless such agreement is made or applicable law requires
such interest to be paid, Lender shall not be required to pay BOlTower any interest or eamings on the Funds, Lender shall 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 are pledged as additional security for the sums secured by this MOl1gage.
If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due
dates of taxes, assessments, insurance premiums and ground rents, shaIl exceed the amount required to pay said taxes,
assessments, insurance premiums and ground rents as they tàll due, such excess shaIl be, at Borrower's option, either promptly
repaid to BOlTower 01' credited to BOlTower on monthly instaIlments of Funds, If the amount of the Funds held by Lender shall not
be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, BOlTower shaIl pay to Lender any
amount necessary to make up the deficiency in one or more payments as Lender may require,
Upon payment in fuIl of all sums secured by this Mortgage, Lender shaIl promptly refund to BOlTower any Funds held by
Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shaIl apply, no
later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
application as a credit against the sums secured by this Mortgage,
3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note
and paragraphs 1 and 2 hereof shaIl be applied 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 the principal of the Note,
4. Prior Mortgages and Deeds of Trust; Charges; Liens. Bon'ower shall perform all of Bon' ower's obligations under any
mOl1gage, deed of trust or other security agreement with a lien which has priority over this M0l1gage, including Borrower's
covenants to make payments when due. Borrower shall payor cause to be paid all taxes, assessments and other charges, fines and
impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if
any,
5. Hazard Insurance. Borrower shaIl keep the improvements now existing or hereafter erected on the Property insured
against loss by tire, hazards included within the term "extended coverage," and such other hazards as Lender may require and in
such amounts and tòr such periods as Lender may require.
The insurance carrier providing the insurance shall be chosen by BOlTower subject to approval by Lender; provided, that
such approval shaIl not be unreasonably withheld, All insurance policies and renewals thereof shaIl be in a form acceptable to
Lender and shall include a standard mortgage clause in favor of and in a fonn acceptable to Lender, Lender shaIl have the right to
hold the policies and renewals thereof, subject to the ten11S of any mortgage, deed of trust or other security agreement with a lien
which has priority over this Mortgage,
In the event of loss, Borrower shaIl give prompt notice to the insurance can'ier and Lender, Lender may make proof of loss if
not made promptly by BOlTower.
If the Property is abandoned by Borrower, or if Bon-ower tàils to respond to Lender within 30 days from the date notice is
mailed by Lender to Bon-ower that the insurance carrier otIers to settle a claim 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 the sums secured by
this Mortgage,
6, Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair and shall not commit waste or pennit impainnentor deterioration of the Property and shall
comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a
planned unit development, Borrower shall perfbm1 all of Bon'ower's obligations under the declaration or covenants creating or
govel11ing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit
development, and constituent documents,
7, Protection of Lender's Security. If Borrower fails to perf 01111 the covenants and agreements contained in this Mortgage,
or if any action or proceeding is commenced which materially atIects Lender's interest in the Property, then Lender, at Lender's
.. option, upon notice to BOIl"OWer, may make such appearances, disburse such sums, including reasonable attol11eys' fees, and take
such action as is necessalY to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan
secured by this MOl1gage, BOITower shall pay the premiums required to maintain such insurance in effect until such time as the
requirement f~)J' such insurance tel111inates in accordance with BOITower's and Lender's wIitten agreement 01' applicable law,
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become
additional indebtedness of Bon"ower secured by this Mortgage. Unless Bon'Ower and Lender agree to other tenns of payment,
such amounts shall be payable upon notice from Lender to Bon'ower requesting payment thereof, Nothing contained in this
paragraph 7 shall require Lender to incur any expense or take any action hereunder.
. ·76(WY) (0308)
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CHL (09/05)
Page 2 of 4
Form 3861
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0917574
DOC ID #: 00013473253003006
8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that
Lender shall give BOITower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in
the Property,
9, Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof: orfor conveyance in lieu of condemnation, are hereby assigned and
shall be paid to Lender, subject to the ten11S of any mortgage, deed of tmst or other security agreement with a lien which has
priority over this Mortgage,
10. BOlTower Not Released; Forbearance By Lender Not a Waiver. Extension 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 liability of the original Borrower and Borrower's successors in interest. Lender shall not be required
to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amOliization of the
sums secured by this MOItgage by reason of any demand made by the original BOl1"ower and Bon'ower's successors in interest.
Any forbearance by Lender in exercising any right or remedy hereurider, 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 Liability; Co-signers. The covenants and agreements herein
contained shall bind, and the lights hereunder shall inure to, the respective successors and assigns of Lender and BOl1"ower,
subject to the provisions of paragraph 16 hereof, All covenants and agreements of BOl1"ower shall be joint and several. Any
BOl1"ower who co-signs this MOIigage, but does not execute the Note, (a) is co-signing this MOligage only to mOltgage, grant and
convey that Bon'ower's interest in the Propelty to Lender under the tenns of this Mortgage, (b) is not personally liable on the Note
or under this MOItgage, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or
make any other accommodations with regard to the tenns of this Mortgage or the Note without that BOITower's consent and
without releasing that Bon'ower or modifying this MOligage as to that Borrower's interest in the Propelty,
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 shall be given by delivering it or by mailing such notice by celiified mail addressed to Bon'ower at
the Propelty Address or at such other address as Bon'ower may designate by notice to Lender as provided herein, and (b) any
notice to Lender shall be given by celtified mail to Lender's address stated herein or to such other address as Lender may
designate by notice to Borrower as provided herein, Any notice provided for in this MOItgage shall be deemed to have been given
to Borrower or Lender when given in the manner designated herein,
13. Governing Law; Severability. The state and local laws applicable to this MOligage shall be the laws of the jurisdiction
in which the Property is located. The foregoing sentence shall not limit the applicability of federal law to this MOIigage, In the
event thaf any provision or clause of this MOltgage or the Note conflicts with applicable law, such conflict shall not affect other
provisions of this MOligage or the Note which can be given effect without the conflicting provision, and to this end the provisions
of this MOltgage and the Note are declared to be severable. As used herein, "costs," "expenses" and "attol11eys' fees" include all
sums to the extent not prohibited by applicable law or limited herein,
14. Borrower's Copy. Borrower shall 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. Bon'ower shall fulfill all of BOl1"ower's obligations under any home rehabilitation,
improvement, repair, or other loan agreement which Borrower enters into with Lender, Lender, at Lender's option, may require
BOITower to execute and deliver to Lender, in a tann acceptable to Lender, an assignment of any rights, claims or defenses which
BOITower may have against parties who supply labor, materials or services in connection with improvements made to the
Property ,
16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is
sold or trans felTed (or if a beneficial interest in Borrower is sold 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 all sums secured by this MOIigage,
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 ITom 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 pel111Ítted by
this Mortgage without fhrther notice or demand on BOITower,
NON-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
Lender prior to acceleration shall give notice to Borro,ver as provided in paragrnph 12 hereof specifying: (1) the breach;
(2) the action required to cure such breach; (3) a date, not less than 10 days from the date the notice is mailed to Borrower,
by which such Iwench must be cured; and (4) that failure to cure such breach on or before the date specified in the notice
may result in acceleration of the sums secured by this Mortgage. The notice shall further inform Borrower of the right to
'einstate after acceleration :md 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 breach is not cured on or before the date specified in the notice, 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 other remedies permitted by applicable law. Lender shall be entitled to
. collect all reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph 17, including, but
. not limited to, reasonable attorneys' fees.
If Lender invol<es 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 accordnnce 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 publish the notice of 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 the persou or persons legally entitled thereto. .
Form 3861
. -76(WY) (0308)
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18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to
Borrower's breach, Borrower 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
this MOligage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due
under this MOligage and the Note had no acceleration occUlTed; (b) BOl1'ower cures all breaches of any other covenants or
agreements of BOl1'ower contained in this MOligage; (c) BOl1'ower pays all reasonable expenses incl\ITed by Lender in enforcing
the covenants and agreements of BOl1'ower contained in this MOligage, and in enforcing Lender's remedies as provided in
paragraph 17 hereof, including, but not limited to, reasonable attomeys' fees; and (d) BOl1'ower takes such action as Lender may
reasonably require to assure that the lien of this MOligage, Lender's interest in the Propeliy and Borrower's obligation to pay the
sums secured by this Mortgage shall continue unimpaired, Upon such payment and cure by BOI1'ower, this MOligage and the
obligations secured hereby shall remain in full force and effect as ifno acceleration had occUlTed.
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 Bon'ower shall, 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 paragraph 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 entitled to
enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due, All 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 attomeys' 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. Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage 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
MORTGAGES OR DEEDS OF TRUST
Bon'ower and Lender request the holder of any mOligage, deed oftmst or other encumbrance with a lien which has priority
over this MOligage to give Notice to Lender, at Lender's address set fOlih on page one of this Mortgage, of any detàult under the
superior encumbrance and of any sale or other foreclosure action,
IN WITNESS WHEREOF, Borrower has executed this MOligage.
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GORDON BELL
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DONNA BELL
ST A TE OF WYOMING,
County S5: ~
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(date)
The foregoing instmment was acknowledged before me this
by Cordan &1 I ) J)ann ~ k~~
My Commission Expires: 4~ Ij )008" /./ ~-¿~Á~ 1W~
7' Nota~
VALERIE KITTRELL - NOTARY PUBLIC
County Of.& State of
Uncoln . Wyoming
My Commlss.lon.explrss April 19, 2008
. -76(WY) (0308)
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CHL (09/05)
Page 4 of 4
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Fonn 3851
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EXHIBIT A
SITUATE IN LINCOLN COUNTY, STATE OF WYOMING:
LOT 107 OF STAR VALLEY RANCH PLAT 21, LINCOLN COUNTY,
WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
ADDRESS: 525 BUTTE DR.; THAYNE, WY 83127 TAX MAP OR
PARCEL ID NO.: 3418-064-03-041-00
II11IIIII11111111111111111111111111111111111111111111111I11IIII111111111111111111111111111
U30901216-01HP05
MORTGAGE
LOANä T006-048868
US RecordingEl
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