HomeMy WebLinkAbout918172
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Recording Requested by A
When Recorded Return To:
US Recordings, Inc.
2925 Country Drive
S1. PBul, MN 55117
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RECEIVED 5/9/2006 at 2:22 PM
RECEIVING:# 918172
BOOK: 619 PAGE: 314
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Pr-epared By:
BHJNA BIMMONS
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THIS MORTGAGE is made this -2lBt
:DAVID S MECK
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To 0 u- oS <;"1 0 (P
] MORTGAGE I
MIN lDDl337-000l355885-6
1lay of APRIL, 2006 , between the Mortgagor,
DDDl35l53429D4DD6
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(herein "Borrower"), ro1d the Mortgagee, Mortgage Electronic Registration Systems, .Inc. ("MERS"), (solely l1S nominee for
Lender, .as hereinafter .defined, ro1d Lender's successors lIIld.assigns). MERS is organizedro1dexisting under ilie laws of Delaware,
lIIldhas J:U1MdressllIld telephone number of P.O. Box2026, Flint, MI48501-2026, tel. (888) 679-MERS.
Countrywide .Bank, N.A.
A .NATL. ASBN. , ("Lender") is organized lIIld
existing under 1he laws of "TEE TINITED BTATES .lIIld œs J:U1Mdress of
lB9 W=:,·~:'::' ~i~:;~¿':'==~.;:m ":~~ <:;; .-:d~~ . whkh indebtedne" ;;
evidencerl by Borrower's note dated APRIL 2l, 2006 J:U1d eX~enewa1s iliereof (herein "Note"),
providing for monthly .installments of principal ro1d interest, with the balance of .indebtedness, if not sooner paid, .due lIIld payable
on .MAY Dl, -2D2l
TO SECURE to Lender the repayment of the .indebtedness evidenced by ilie Note, with interest ther-eon; the payment of 1111
other sums, with interest 1her-eon, .arlvJ:U1ced in llCcordance .herewith 10 protect the security of this Mo:rtwLge; lIIld the performance
of ilie covenants .and .agreements of Borrower herein contained, Borrower !iDes .hereby mortgage, grant .and convey 10 MERS
WYOMING - EECOND MORTGAGE- 1/80- FNMA/FHLMC UNIFORM INSTRUMENT WITH MER5
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(solely liS nominee for l-ender .and Lender's successors .and liSSigns) lIlld to the successors lIlld li!¡signs of MERS, with power of
sale, the following described property loclited in the COW1ty of LINCOLN , State of
Wyoming:
BEE EXHIBIT "A" A"TTACHED EERETO AND MADE A .PAR'I' BEREOF.
which has the .address of
B3l22
354 MEADOW LANE I GROVER
[Street, City]
JZip Code] (herein "Property Address");
, Wyoming
TOGETHER with.all the improvements now or hereafter erected on the property, .and lill easements, rights, lippurtenanceS
.and rents, .all of which shall be deemed to be.and remain li part of the property covered by this Mortgage; lIlld lill of the foregoing,
10gether with.said property (or the leasehold estate if thisM ortgage is on li leasehold) .are hereinafter referred to liS the "Property."
Borrower understands lIlld llgfees that MERS holds only legal title to the interests granted by Borrower in this Mortgage; but, if
necessary to comply with law or custom, MERS, (as nominee for Lender lIlld Lender's successors.and .assigns),.has the right: 10
exercise lIllY or lill of those interests, including, but not limited to, the right to forecJose .and seIl the Property; lIlld to :take lIllY
liction required of Lender including, but not limited to, releasing or canceling this Mortgage.
Borrower l:ovenants that Borrower is lawfully seised of the estate l1ereby conveyed llild has the right to mortgage, grant and
convey the Property, lIlld that the Property is unencumbered, except for encumbrances of record. Borrower covenants that
Borrower warrants.and will defend generaIly the title to the Property ligainst .all claims lIlld demands, subject to encumhrances of
record.
UNIFORM COVENANTS. Borrower and Lender covenant and llgfee.as follows:
1. P.ayment of Principal .and Interest. Borrower .sIIlill 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, Borrower .shall pay to Lender
on the day monthly payments ofprincipallllld interest.are payable under the Note, until the Note is paid in full, li.sum (herein
"Funds") equal to one-twelfth of the ye.arly taxes and assessments (including condominium and planned unit development
.assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if any, plus one-twelfth of
yearly premium installments for.hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any,
.all liS reasonably estimated initially .and from time to time by Lender on the basis of .assessments .and bills and reasonable
estimates thereof. Borrower .shall not be obligated to make .such payments of Funds to Lender to the extent that Borrower makes
.such payments to the holder of li prior mortgage or deed of trust if such holder is lIll institutional lender.
lfBorrower pays Funds to Lender, the Funds shall beheld 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 .shall .apply the Funds to pay
said taxes, .assessments, insurance premiums and ground rents. Lender may not charge for .so holding .and .applying the Flmds,
.analyzing .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 and Lender may agree in writing .at the time of execution of
this Mortgage that interest on the Funds .shall be paid to BOHower, .and unless such agreement is made or .applicable law requires
such interest to be paid, Lender .shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
Borrower, without charge, lIll.annua1.accounting of the Funds .showing credits.and debits to the Funds.and the purpose for which
each debit to the Funds w.as made. The Funds.are pledged as additional.security for the sums .secured by this Mortgage. .
. -76 N (WY) (0308)
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IT the .amount of the Funds held by Lender, together with the future montWy installments of Funds payable prior to the due
dates of taxes, liSsessments, insurance premiums and pound rents, shall, exceed the .amount required to pay said taxes,
liSsessments, insurance premiums .and pound rents liS they fall due, such excess shall be, .at Borrower's option, either promptly
repaid to Borrower or credited to Borrower on montWy installments of Funds. If the amount of the Funds held by Lender shall not
be sufficient to pay taxes, .assessments, insurance premiums .and pound rents .as they fall due, Borrower Bhall pay to Lender .any
.amount necessary to make up the Deficiency in one or more payments as Lender may require.
Upon payment in full of .all Bums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds held by
Lender. IT under paragrnph 17 hereof the Property is Bold or the Property is otherwise acquired by Lender, Lendershallllpply, no
.hrter than immediately prior to the .sale of the Property or its lIcquisition by Lender, .any Funds held by Lender.at the time of
.application.as II credit .against the sums secured by this Mortgage.
3. Application of P.ayments. Unless .applicable law provides otherwise, .all payments received by Lender 11nder the Note.and
paragrnphs I .and2 hereof shall be .applied by Lender frrst in payment of amounts pay lib Ie to Lender by Borrower under paragrllph
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. Borrower .shall perfonn.all of Borrower's obligations under.any
mortgage, .deed of trust or other security .agreement with 1I lien which has priority over this Mortgage, including Borrower's
covenants to make payments when due. Borrower shall payor cause to be paid.all taxes, liSsessments and other cluirges, fines .and
mpositions .attributable to the Property which may .attain II pr:i.ority over this Mortgage, .and leasehold payments or pound rents, if
.any.
5. Hazard Insur.anœ.Borrower shall keep the improvements now existing or hereafter erected on the Property insured
lIgainst loss by fire, hazards included within the term "extended cover.age," and Buch other hazards liS Lender may require and in
Buch amounts and for Bucll periods liS Lender may require.
The insurance .carrier providing the insur.ance .shall be chosen by Borrower subject to lIpproVal by Lender; provided, that
Buch lIpproVal Bhall not be unreasonably withheld. All insurance policies .and renewals thereof Bhall be in .a form .acceptable to
Lender .and Bhall include II standard mortgage clause.in favor of .and.in.a form .acceptable to Lender. Lender shall have the right to
hold the policies and renew.als thereof, Bubject to the tenDs 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 Bhall give prompt notice to the insurance .carrier .and Lender. Lender may make proof ofloss 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
mailed by Lender to Borrower that the insur.ance .carrier offers to settle a claim for insurance benefits, Lender is .authorized to
collect .and .apply the .insurance proceeds .at Lender'B option either to restor.ation or repair of the Property or to the sums secured by
this Mortgage.
6. Preservllnon .and M.aintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall.keep the Property in good repair .and shall not commit WliSte or permit impairment or .deterioration of the Property .and Bhall
comply with the provisioI1B of .any lease if this Mortgage is on II leasehold. If this Mortgage is on II unit .in II condominium or .a
planned llDit Development, Borrower shall perform.all of Borrower's obligations under the Declaration or covenants creating or
governing 1he condominium or planned unit development, the by-llIws .and regulations of the condominium or. planned llDit
development, and constituent .documents.
ï. Protecnon of Lender's Security. If Borrower fails 10 perform the covenants.and .agreements contained in this Mortgage,
or if .any .action or proceeding is commenced which materuilly affects Lender'B interest .in the Property, then Lender, .at Lender's
option, upon notice to Borrower, may make such appearances, disburse Buch Bums, including reasonable .attorneys' fees, .and take
Buch action liS is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan
-secured by this Mortgage, Borrower shall pay the premiums required to maintain such insur.ance .in effect llDtil such time liS the
requirement Tor Buch .insurance terminates in accordance with Borrower's.and Lender's written .agreement or .applicable law.
Any.amounts disbursed by Lender pursuant to 1hispar.agraph ï, with interest thereon, .at the Note rllte, Bhall become
.additional .indebtedness of Borrower Becuredby this Mortgage. UnleBs Borrower .and Lender .agree to other terms of payment,
such .amounts .shall be paYllble upon notice from Lender to Borrower Tequesting payment thereof. Nothing contained in this
par.agraph ï Bhall require Lender to incur .any expense or take .any .action hereunder.
8. Inspection. Lender may.make or cause to be made reasonable entries upon.and inspections of the Property, provided that
Lender Bhall give Borrower notice prior to any Buch inspection specifYing reasonable cause therefor related to Lender's interest in
the Property.
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9. Condemnation. The proceeds of any lIward or claim for damages, direct or consequentÍ1ll, in connection with 1IIlY
condemnation or other taking of the "Property, 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 .agreement with 11 lien which has
priority over this Mortgage.
]0. Borrower Not ReleJised; ForbeJirance By Lender Not.a W.aiver. Extension of the time for payment or modification of
1II110rtization of the.sums secured by this Mortgage granted by Lender to .any successor in interest of Borrower .shall not operate 10
release, in 1IIlY manner, the liability of the original Borrower 1IIld Borrower'.s successors in interest. Lender Bhall not be required to
commence proceedings .against such successor or refuse to extend time for payment or otherwise modify 1II110rtization of the sums
.secured by this Mortgage by re.ason of 1IIlY demand made by the original Borrower .and Borrower's successors in interest. Any
forbeanmce by Lender in exercising.any right or remedy hereunder, or otherwise afforded by applicable law, .shall not be 11 w1lÎver
of or preclude the exercise of 1IIlY such Tight or remedy.
11. Successors and Assigns Bound; Joint .and Sever.al LilIbility; Co-signers. The coverumts and .agreements herein
contained shall bind, 1IIld -the rights hereunder shall inure to, the respective successors.and .assigns of Lender .and Borrower,
subject to the provisions of paragrllph 16 hereof. All covenants and .agreements of Borrower shall be joint .and several. Any
Borrower who co-signs this Mortgage, but does not execute the Note, (11) is co-signing this Mortgage only to mortgage, grant 1IIld
convey that Borrower's interest in the Property to Lender under the tenns of this Mortgage, (b) is not personally liable on -the Note
or under this Mortgage, .and (c) .agrees that Lender.and 1IIlY 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 Borrower'.s consent lInd
without releasing that Borrower or modifying this Mortgage.as to that Borrower's interest in the Property.
U. Notice. Except for 1IIlY notice required under lIpplicable law to be given in another manner, (a) any notice to Borrower
provided for in this Mortgage .shall 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) 1IIlY
notice to Lender .shall be given by certified mail to Lender's.address .stated herein or to such other .address liS 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; Sever.ability. The state 1IIld local laws .applicable to this Mortgage .shall be the laws of the jurisdiction
in which the Property is located. The foregoing sentence Bhall not limit the .applicability of fedemllaw to this Mortgage. In the
-event that 1IIlY provision or clause of this Mortgage or the Note conflicts with .applicable law, .such conflict shall not .affect other
provisions of this Mortgage or the Note which can be given effect without the conflicting provision,.and to this end the provisions
of this Mortgage .and the Note.are .declared to be .sevemble. As used herein, "costs," "-expenses" .and ".attorneys' fees" include 1111
.sums to the -extent not prohibited by lIpplicable law or limited herein.
14: Borrower's Copy. Borrower shall be furnished 11 conformed copy of the Note.and of this Mortgage .at the time of
-execution or lifter recordation hereof.
15. Rehabilitation Loan Agreement. Borrower Bhall fulfill .all of Borrower's obligBtions under 1IIlY home rehabilitation,
improvement, repm, or other loan .agreement which Borrower enters into with Lender. Lender, lit Lender's option, may require
Borrower to execute 1IIld deliver to Lender, in 11 fonn lIcceptable to Lender,1IIl.assignrnent of 1IIlY rights, claims or defenses which
Borrower may have lIgainst parties who supply labor, materials or services in connection with improvements made to the
Property .
16. Tr.ansfer of the Property or a Beneficiallnterestin Borrower.lf 1111 or 1IIlY part of the "Property or any interest in it is
sold or transferred (or jf 11 beneficial interest in Borrower is sold or transferred and Borrower is not 11 natural person) without
Lender's prior written consent, Lender may, lit its option, require immediate payment in full of 1I1I sums secured by this Mortgage.
However, this option shall not be exercised by Lender if exercise is prohibited by federal law .as of the rlate of this Mortgage.
If Lender -exercises this option, Lender .shall give Borrower notice of lIcceleration. The notice .shall provide a period of not
less than 30 rlays from the rlate 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 1IIlY remedies pennitted by
this Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower 1IIld Lender further covenant and agree.as follows:
17. Acceleration; Remedies. .E1:cept.as provided in paragr.aph ]6 .hereof, uponBorrower'shruch 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 .acceler.ation shall give notice to Borrower.as provided in par.agraph U .hereof specifying: (1) the breJich;
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(2) the action required to .cure such breach; (3) a date, not Jess than 10 days from the date the .notice is mailed to Borrower,
by which such breach 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
reinstate after acceleration JUld the right to bring a court action to assert the nonexistence of a llefuult or .any other defense
of ..Borrower to acceJeration JUld 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 JUld any other remedies permitted by applicable Jaw. 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 attor.neys' fees.
If Lender invokes 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 accordance with applicable Jaw. Lender shall mail a copy of a notice of the sale
to Borrower in the JIUiDDer provided in paragraph U hereof. Lender shall publish the .notice of sale JUld 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 JUld 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 person or persons legally entitled thereto.
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 Mortgage or (ii) -entIy of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due
under this Mortgage .and the Note had no acceleration occurred; (b) Borrower cures .all breaches of .any other covenants Dr
.agreements of Borrower contained :in this Mortgage; (c) Borrower pays .all reasonable expenses .incurred by Lender :in enforcing
the covenants .and .agreements of Borrower contained in Lllls Mortgage, .and :in enforcing Lender's remedies .as provided in
paragraph 17 .hereof, .including, but not limited to, reasonabk mtorneys' fees;.and (d) Borrower takes such .action as Lender may
reasonably n~quire to .assure that the lien of this Mortgage, Lender's :interest :in the Property .and Borrower's obligation to pay the
.sums secured by this Mortgage shall continue unimpaired. Upon.such payment .and cure by Borrower, this Mortgage .and the
obligations secured hereby .shallr-emaÎn :in full force and effect as if no .acceleration had occUrred.
19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As lI.dditional security .hereunder, Borrower
.hereby .assigns to .Lender the rents of the Property ,provided that Borrower .shall, prior to .acceleration under paragraph 17 .hereof
or ..aillmdonment of1he Property, .have the right to collect.and retain such rents as they become due and pay.able.
Upon .acceleration under paragraph ] 7 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 appo:inted receiver, shall be entitled to
enter upon, 1ake 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 attorneys' 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 cl1arge to
.Borrower. Borrower .shall pay .all costs of recordation, if .any.
21. W.aiver of Homestead . Borrower .hereby waives.all right of homestead exemption in the Property.
REQUEST FOR NOTICE OFDEFADLT
AND FORECLOSURE UNDERBUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower .and Lender request the holder of.any mortgage, .deed of trust or other encumbrance with a lien which has priority
over this Mortgage to give Notice to Lender, at Lender's .address set forth on page one of this Mortgage, of .any .default under the
.superior encumbr.ance.and of .any .sale or other foreclosure .action.
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.sTATE OF WYOMJNG, County 55:
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EXHIBIT A
THE FOLLOWING DESCRIBED REAL ESTATE, SITUATE IN LINCOLN
COUNTY AND STATE OF WYOMING, .HEREBY RELEASING AND WAIVING
ALL .RJ:GHTS UNDER AND BY VIRTUE OF THE HOMESTEAD' EXEMPTION
LAWS OF "THE STA"TE TO "WIT:
PART OF SECTION 1, T32N R119W OF THE 6TH P,M., LINCOLN
COUNTY, WYOMING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON "THE SOUTH BOUNDARY LINE OF SAID
SECTION 1 TEAT IS 20 RODS WEST OF THE SOUTHEAST CORNER OF
THE SW1/4 SE1/4 OF SAID SECTION 1;
THENCE WEST 20 RODS, ALONG SOUTH BOUNDARY LINE;
"THENCE NORTH 8 RODS;
"THENCE EAST 20 RODS, MORE OR LESS, ON A LINE PARALLEL TO
SAID SOUTH BOUNDARY LINE, TO "THE WEST BOUNDARY LINE OF "THE
RONALD "TOLMAN "TRACT, RECORDED IN BOOK 111PR ON PAGE 242 OF
RECORDS OF LINCOLN COUNTY CLERK;
THENCE SOUTH 8 RODS, MORE OR LESS, ALONG SAID WEST BOUNDARY
LINE "TO "THE POINT OF BEGINNING.
SUBJECT HOWEVER, "TO ALL RESERVA"TIONS, REST.RJ:CT.::roNS,
:PRO"TECTIVE COVENANTS, EXCEPTIONS, EASEMENTS AND
.RJ:GHTS-OF-WAY OF RECORD, IN SIGHT, OR IN USE.
ADDRESS: 354 MEADOW LN. ; GROVER, WY 83122
:PARCEL ID NO,: 32190140026700
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