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HomeMy WebLinkAbout926796 ;)~ 000742 RECEIVED 2/14/2007 at 12:25 PM RECEIVING # 926796 BOOK: 648 PAGE: 742 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY After Recording Return To: COUNTRYWIDE HOME LOANS, INC. MS SV-79 DðCUMENT PROCESSING P.D.Box 10423 Van Nuys, CA 91410-0423 Prepared By: RUBY FLORES If: (q I ó {qif [Spa~e A!lon Tbù Llac for Recordlag DataJ 201790.3 [EscrowiClosin9 #J 00015739392801007 [Doc ID #J \ c V '. \ . ,. ¡..it. (v\ \')1\ \./ IL-'" MmN 1000157-0007654699-9 MORTGAGE (Line of Credit) THIS MORTGAGE, dated JANUAR;Y '26, 2007 , is between CLINTON D GUTHRIE, AND DEB.ORAH A. GÙTHRIE,HUSBAND AND WIFE, AS TENANTS BY THE ENTIRETIES residing at 65 DELL CREEK RD, ALPINE, WY a312B the person or petsons signing a:s "MortgagQr(s)" below and hereinafte(' referred to as "we," "our," or "us" and MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., ("MERS") a DeJaware. corporation, with an address of P.O. Box 2026, FUnt, M148501-2026, tel. (888) 679-MERS. MERS is the "Mortgagee" under this Mortgage and is acting solely IUI nominee for COUNTRYWIDE HOME LOANS, INC. ("Lender" or "you") and its successors and assigns. MORTGAGED PREMISES: In consideratiQn 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 ofMERS, the premises located at: 65 DELL CREEK RD Street WY Slate A;L ?INE Municipality 83128 ZIP (the "Premises"). LINCOLN CountY . MERS HELOC . Wy Mortg8ge 2E037-WY (10l05}(dII) P::gc , or 5 ! III il~ . 2 3 991 . . 1 573 9 3 9 2 6 Q 0 ~ 0 0 2 E 037 " DOC ID #: 00015739392B01007 and further described as: tract 1, DELL CREEK RANCHES, as shown by the offic¡âl plat thereof filed in the office of the. lincoln cQunty clerk, on march 22, 1991,. as document no. 730096, and as plat no. 338. The Premis.es includes all buildings and pther improvements now 9r in the future on the Premises and all rights and interests which derive from Qur ownership, use or possession of the Premises and all' appurtenances thereto. WE UNDERSTAND and agree that MER.S is a separate corporation acting solely as nominee for Lender and Lender's successors and assigns, and holds only legal title to the interests 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, incll¡ding, 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, rel~ing or canceling this Mortgage. LOAN: This Mortgage will secure your loan to us in the principal amount of S 65,600.00 or so much thereofas may be¡¡dvanced and readvanced from time to time.to CLINTON D. GuTHRIE , the Borrower(s) tinder the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated JJl.NUARY 26, 2007 , plus iriterest and costs, late charges and all othercharges related to the loan, all of which sums arc repayable aCcOrdirig to the Note, This Mortgage wiIl also secure the performance of all of the promises and agreements. m.ade by us ahd each Borrower and Go-Signer in the Note, all of our promises and agreements in this Mortgage, any extensions; renewals, amendments, supplements and (¡ther 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 N~te may be made, repaid and remadeîrom time to time in accordance with thè renns ofthp. Note and subject to the Credit Limit set forth in the Note. OWNERSIllP: We are the s()le 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 laxes, assessments, water charges and sewer rent!: relating to the Premises when 'they bècome- due. We will not claim any credit on, or make deduction trom, the IQan under the Note because we pay these taxes and charges. We will provide you with proofofpayment upon request. (b) MAINTENANCE: We will maintain the building(s) on the Premises in good condition. We will not makemlljor changes in thè building(s) except for normal'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 illegally. If this MoJigag¡: is on a unit ina condominium or a planned unit development, we shall perform all of our obligations under the decl~tion or covenants creàtmg or governing the condominium or planned unit develQpment, t/1e by-laws and regul¡.tions of the condominium or þlanned unit development and cQnstituent 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 reasonable approval. The policies must be forat least the amounts and the time periods tbat you specify. We will deliver to you upon your request the policies or other proof of the insurance. The policies must name you as "mortgagee" and "loss-payëe" 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 I 0 days prio~ written notice of any cancellation or reduction in coverage, for any reason. Upon roquest, we shall deliver the policies, certificates or òther evidence of insurance to you. In the event of loss or damage to the Premises, we will immediately notify yóu in writing and file a proofòfloss with the insorer. You may file a proof of loss on our behalf if we fail or refuse to dò so. You may also sign our name to any (¡heck, draft 9r other order for the payment of inslJrllJlce proceed:; in the event of10S! or damage to the Premises. If you receive payment of a claim. you will .þave the right to choose. to use the money either to repair the Premises or to reduce the amount owing on the Note. · MERS HELOC . WV Mortgage 2EOJ7-WV (10/06) Page 2 of. 5 UVU j'''S'-» 09~6796; , and / OOO"4'~ 0326796 DOC ID #: qaQ15739392BOI007 (d) CONDEMNATION: We assign to you the proceedS or 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 ofcondcmnation,all of which shall be paid to you. subject to the terms of any Prior Mortgage. (e) SECURITY IN1EREST: We will join with you in signing and filing documents and, at our expel\se, 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 clàims and liens of åll parties whose claims or liens arc discharged or paid with the proceeds of the. Agreement secured hereby. (f) OUR AUTIIORITY TO YOU: Ifwe tàil to perform our obligations under this Mortgage, you may, if you choose, perfotm our obligatiMs 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 hO'nor:our promises to maintain insurance in effeet, or to pay fiting 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, adv.ance any ~Lims to satisfy any of our agreements with you and charge us interest on such advances at thr. interest tate set forth in the Note. This Mortgage secures all.such advances. Your payments on our behalf will not oure our failure to pcrfOm1 our promises in this Mortgage. Any replacement insurance that you obtain to cover loss or damage, to the Prcmists may be limited to the amount owing on the Note plus 'the amount of any Prior Mortgages. (g) PRIOR MORTGAGE: If the provisiqns of-this' paragraph are. completed, this Mortgage is subject and subordinate to a prior lJ!.ortgø,ge dated 01/01/2007 IU1d given by us to COUNTRYWIDE as mQrtgagee, in the originaIamount of $ 429 I 4 DD . DD (the "Prior Mortgage"). We shall not increase, amend or modify the Prior Mortgage witbol1~ your prior written consent' il.nd shåJl upon receipt of any written notice from the bolder 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 SUBI:;TANCES: We sh~l not calise or permit the presence, Use,disposal, storage, or release of any Hazardous Substances on or in the Premises. We shàlI not do. nor allow anyone else to do, anything affecting the Premises that i~ in violation of any Enviro/lP'lentaI Law. Tb,e preceding two sentences shaH not apply to the presence, use, or storage on the Premises of small quantities of HawdQUS Substanées that are generally recognized to be appropriate to 110Q11aI residential uses and to maintenance of the Premises. As used in this paragraph, "Hazardous Subs~ccs" are those substances defined as toxiè 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 fOìmaldehyde, and radioactive materials. As used in this paragraph. "Environmental Law" means federal laws and laws of the jurisdiction where the Premises are locate~ that relate to health, safety or environmental protection. (i) SALE OF PREMISES: Wé 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 co.nsent. 0) INSPECTION: We will permit you to inspect the Premises ~t any reasonable ti~e. NO LOSS OF RIGHTS: The Note and this Mortgage may be negotiated or assigned by you without releasing us or Ú1ePremises. You may add ot rclea$e 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 far the Premises to be ~old by advertisement and sale or by judicial foreclosure, Eît your option,.as provided by law, in order to pãy affwhat we owe on the Note arid under this Mortgage. If the money you teceive from the sale is not enough to pay off what we owe you, we will still owe you the difference which you may. seektotollect from us in accordance with applicable law. In addition, you may, in accordance with applicable law, (i) énter on and take póssessioJ;l of the Premises; (ii) co.l1ect the rental payments, including over-due rental pl),yri1ents, direCtly from tenants after simply notifying them first Class mail to make rental payments to you; (iii) manage the Premises; and (iv) sign, cancel and change leases. Wr: agree that the intere:;t rate set forth in the Note will continue before and after a default, entI)' 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 attomeys fees and costs of documentary evidence, abstracts ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we a,ssign to you the rents of the Premises. You or a receiven.ppointedby the courts shaH be entitled to enter upon, take possession orand manage the Premises and colleCt the rents.ofthe Premises including those past due after simply notifYing them by, first class mail to make renta,1 payments to you. . MERS HELOC - WY MOItgåge 2E037-WV (10106) Page 3 øf 5 000':'145 09~6796 DOC ID #: 00015739392801007 W AlVERS: To the extelit'peniùtted by applicable law, we waive and release any error or defects in proceedings to enforce this Mø~gage and hereby waive the benefit of any Present or future laws providing for stay of execution, extension of time, exemption trom attachment, levy and saIea.nd homestead exemption. BINDING EFFECT: Each ofus shall be fully responsible for all of the promises and agreements in this Mortgage. Until the Note has beeD paid in full and your o.bIigation to make further adva:nces under the Note has been terminated, the provisions of this MortgägewiII be binding on us, our If!gal representatives, our heirs and all future owners ofthc Premises. This Mortgage is for your benefit and for the benefit of anyone to whom you may assign ~t. Upon payment in full of all amounts owing to you under thé Note and this Mortgage, and provided any obligation to make ti,u1her advances under the Note has tenninated, this Mortgage and your rights in the Premises shllI1 end. NOTICE: Except fur 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 noticé to you shall be given by certified mail, return receipt requested, tå your address at For MERS: P.O. Box 2026, Flint. MI 48S01.2026 For Lender: 4500 Park Granada MSN# SVB-314, Calabaåas, CA 91302-1613 or to sucb other address as you may designate by notice to us. Any notice Provided for in this Mortgagè shall be deeméd to have been given to us or you when given in the manner designated herein. RELEASE: Uponpayn¡ent of all sum:; secured by this Mortg¡¡.ge and provided your QbIigation to make further advances under the Note has terminatod, you shall discharge tþis Mortgage witl¡out charge to us, except thatwe shall pay any fees for recording of a satisfaction of this Mortgage. GENE~ You can waive or cJ.elay enforcing any of your rights linder 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. TInS MORTGAGE has been signe4 by each of us under seal on the date fi.fSt abovo written. ~W,---D- ..9-f-~ CLINTON D. GUTHRIE Mortgagor: '~Q'~\o>L~ ~~ DEBORAij ~. GUTHRIE Mortgagor: Mortþgor. Mortgagor; · MERS HELOC . WY Mortgage 2.E037-WY (10106) Page 4 01 5 000746 0926796 DocrD #: 00015739392801007 STATE OF WYOMING, Countyss: Ll.lLC..vLr¡ The foregoing instrument was acknowledged before me this ¿;¿ 9 J!:2 ~ L c9 CtJ 7 by , ~ ¿ .LJJ¿/Zi'¿ o (pcrson BCknowlcdging) I) .-1/ /J My Commission Expires:1d 4Ji-, c9c9, c9ûO íJ ~ LÞ¡¿tJ/il., é/1 I (l!/1dbZ4.ÆC Notary Public l/î:::--AÑÕÈÃsN~~~~î. Lincoln Wyoming i ~ My Commission Explr(,;\ September 22, 2007 (, ......~--$.b.;:,1i~-..:."'......¡ :.":."~._.:~"" . MERS HElOC - WY Mortga·ge 2E037-WY (10/Q6) Page 5. of 5 -VU ,v'4'¡ Legal description 09Z6?96 Tract 1, DBIJ.. CREEK RANCHES, as shown by the official plat thereof filed in the Office of the tincolnCounty Clerk, on March. 22, 1991., as Doc'UDel1tNo. 730096, and as Plat No. 338.