HomeMy WebLinkAbout917629
<-t],
\\0
" ()r
/,.'
1-2,
.~
C00412
. 1
,.
When recorded return to:
Custom Title Solutions 2115130
2550 N. RedhiII Avenue
Santa Ana, CA 92705 7/!.f(¡)O
(800) 756-3524 ext. 5913 or 5545
RECEIVED 4/20/2006 at 2:14 PM
RECEIVING # 917629
BOOK: 617 PAGE: 412
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Prepared By:
APRIL SPRINGER
[Space Above This Line For Recording Data]
ZILjI::;9'30'
0001324~64504006
[Doc ID .]
THIS DOCUMENT is FILED FOR
RECORD BY FIDELITY NATIONAL
TITLE INS. CO. AS AN ACCOMMODATION
ONLY. IT iiAC NOT BEEN EXAMINED
AS TO ITS EXECUTION OR AS TO ITS
EFFECT UPON THE TITLE.
MIN 1001337-0001329260-5
MORTGAGE
(Line of Credit)
THIS MORTGAGE, dated APRIL 10, 2006 , is between
RICHARD SCOTT BECK, AND CHRISTIA M. BECK, HUSBAND AND WIFE, AS TENANTS BY
THE ENTIRETIES.
/
,~ l
residing at
P.O. BOX 4252, BEDFORD, WY 83112
the person or persons signing as "Mortgagor(s)" below and hereinafter referred to a.<; "we," "our," or "us" and
MORTGAGE ELECTRONIC 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 a.<;signs.
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:
555 HOBACK
Street
~.~-~i~ I<fJð
County
THAYNE
WY
Municipality
83127
State
(the "Premises").
ZIP
. MERS HELOC - WY Mortgage
2E037·WY (11/04)(d)
Page 1 of 5
InltlalS~
CJ1(ß
*23991*
* 1 324 9 9 6 4 5 0 000 0 2 E 0 3 7 *
.:::::;::::~::::*¡:ii
~:':':I:'~':':~~:::"
~¡~¡~]~~~mt~~
041.3
. .....
.~
09176Z9
DOC ID #: 00013249964504006
and further described as:
LOT 3 CEDAR CREEK RANCHES SUBDIVISION, ACCORDING TO THAT PLAT THEREOF AS
RECORDED IN THE OFFICE OF COUNTY CLERK, LINCOLN COUNTY, WYOMING.
The Premises includes all buildings and other improvements 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 (as nominee for Lender and Lender's successors and assigns) has
the right: to exercise any or all of those interests, including, but not 1imited to, the right to foredose and seJ] the
Property, and to take any action required of Lender induding, but not limited to, releasing or canceling this
Mortgage.
LOAN: This Mortgage wiJ] secure your loan to us in the principal amount of $ 43, 140 . 00 or so
much thereof as may be advanced and readvanced from time to time to
RICHARD SCOTT BECK
, and
the BOITower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated
APRI L 10, 2006 , plus interest and costs, late charges and an othercharges related to the loan,
a]) of which sums are repayable according to the Note. This Mortgage win also secure the performance of an of
the promises and agreements made by us and each Borrower and Co-Signer in the Note, a]) of our promises and
agreements in this Mortgage, any extensions, renewals, amendments, supplements and other modifications of the
Note, and 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.
OWNERSlllP: 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 wi]] pay a]] 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 wi]] provide you with proof of payment upon request.
(b) MAINTENANCE: We wi]] maintain the building(s) on the Premises in good condition. We wi]] not
make major changes in the building(s) except for normal repairs. We wi]] not tear down any of the building(s) on
the Premises without first getting your consent. We wi]] not use the Premises i]]egally. If th,is Mortgage is on a
unit in a condominium or a planned unit development, we sha]] perform aJ] of our obligations under the
declaration 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 wi]] keep the buiJding(s) on the Premises insured at a]] 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 reasonable approval. The policies must be for at least the amounts and the time periods that you specify. We
wi]] deliver to you upon your request the policies or other proof of the insurance. The policies must name you as
"mortgagee" and "loss-payee" so that you wi]] receive payment on all insurance claims, to the extent of your
interest under this Mortgage, before we do. The insurance po1icies must also provide that you be given not less
than 10 days prior written notice of any cance])ation or reduction in coverage, for any reason. Upon request, we
sha]] de1iver the policies, certificates or other evidence of insurance to you. In the event of loss or damage to the
Premises, we wi]] 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 wi]] have the right to choose to use the money either to repair the Premises or to reduce the amount
owing on the Note.
. MERS HELOC - WY Mortgage
2E037·WY (11/04)
Page 2 of 5
"".~
..
;'09176Z9
C00414
DOC ID #: 00013249964504006
(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 shall be paid to you, subject to the terms of any Prior Mortgage.
(e) SECURITY INTEREST: We will join with you in signing and filing documents 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 shall 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.
(f) OUR AUTHORITY TO YOU: If we fail to perform our obligations under this Mortgage, you may, if you
choose, perform 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 costs necessary to
keep the Premises in good condition and repair or to perform any of our other agreements 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 failure to perform 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 11/08/2005 and given by us to
COUNTRYWIDE HOME LOANS, INC.
as mortgagee, in the original amount of $ 165, 000.00 (the "Prior Mortgage"). We shall not
increase, 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 perform all of our obligations under the Prior Mortgage as and when required under the Prior Mortgage.
(h) HAZARDOUS SUBSTANCES: We shall not cause or permit 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 normal 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 a<;bestos or formaldehyde, 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 permit any other lien or claim against the Premises without your
prior written consent.
G) 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 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
judicial foreclosure, at your option, as 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 owe you, 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 payments, directly from tenants after simply notifying them first class mail to make
rental payment<; to you; (iii) manage the Premises; and (iv) sign, cancel and change leases. 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
~..~
:·:;n::::::::~::Æ:~
;;'~':'il;: ,~,..·¡~¡~.h~j'
"." ',' ..'¡.'.~.!~!""~'.'"
~~9~m!jWj
..
¡mw~?::::;:I~~
l'~IMI~IS.t;!t:i~~~'· .~
0917629
.J OC4J 5
DOC ID t: 00013249964504006
WAIVERS: To the extent permitted 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 shall 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
terminated, 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 towhom 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 terminated, 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 terminated, 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:
~~M
(SEAL)
I/;oþ¿
RICHARD SCOTT BECK
(SEAL)
Mortgagor:
(SEAL)
Mortgagor:
. MERS HElOC - WY Mortgage
2E037-WY (11/04)
Page 4 of 5
ø9f76~9
ê'^t'\4ti'6
\.' U c: J
The foregoing instrument was acknowledged before me this
DOC ID': 00013249964504006
My Commission Expires:..::J I:;)~ -ocr
Notary Public
'?\ m xhrleSer
. MERS HELOC . WY Mortgage
2E037-WY (11/04)
'nltia's/fÚ
'1'~{ll;iP f¡¡~i ~
.1¡~i~~:~Î.t;;~.~~;~
.~~~
l,t:::~:::::I:::;::;;:::
~hI~:~:~!i.J.,
Page 5 of 5