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Home My WebLink About928150 000531 When rec?rded return to: (H) Custom TItle Solutions 2550 N. Redhill Ave.-32-'81: 4-¥=) Santa Ana, CA 92705 1rZLfGt· - (800)756-3524 ext. 5754 or 5996 . RECEIVED 4/5/2007 at 4:11 PM RECEIVING # 928150 BOOK: 653 PAGE: 531 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER. WY Prepared By: MELISSA QUINONEZ MN ':311'8' /92éCO [~~9Q This Line For Recording Data) 00016484756003007 [Doc ID #] MIN 1001337-0002085342-3 ,'7 r ell! ~[, MORTGAGE (Line of Credit) THIS MORTGAGE, dated MARCH 22, 2007 , is between DARRYL HOXIE, AND KATRINA HOXIE, HUSBAND AND WIFE [ft, residing at 542 AIRPORT DR, ALPINE, WY 83128-0805 the person or persons signing as "Mortgagor(s)" below and hereinafter referred to as "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, FSB. ("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 ofMERS, the premises located at: 542 AIRPORT DR Street ALPINE Municipality WY 83128-0805 State ZIP (the "Premises"). LINCOLN County . MERS HELOC - WY Mortgage 2E037-WY (10/06)(d/i) Page 1 of 5 . 2 3 991 . . 164 8 4 7 5 6 0 0 0 0 0 0 2 E 0 3 7 . 000532 {)~~~Jl~(j DOC ID #: 00016484756003007 and further described as: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. The Premises includes alI buildings and other improvements now or in the future on the Premises and alI rights and interests which derive from our ownership, use or possession of the Premises and alI 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 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 alI 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, releasing or canceling this Mortgage. LOAN: This Mortgage will secure your loan to us in the principal amount of $ 60,000.00 or so much thereof as may be advanced and readvanced from time to time to DARRYL HOXIE KATRINA HOXIE , and the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated MARCH 22, 2007 , plus interest and costs, late charges and all othercharges related to the loan, alI of which sums are repayable according to the Note. This Mortgage wilI also secure the performance of all of the promises and agreements made by us and each Borrower and Co-Signer in the Note, alI 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. 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 alI 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 normal repairs. We will not tear down any of the building(s) on the Premises without first getting your consent. We wilI not use the Premises ilIegalIy. If this Mortgage is on a unit in a condominium or a planned unit development, we shalI perform alI 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 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 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 as "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 written notice of any cancellation or reduction in coverage, for any reason. 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 wilI have the right to c~oose to use the money either to repair the Premises or to reduce the amount owing on the Note. . MERS HELOC - WV Mortgage 2E037-WV (10/06) Page 2 of 5 O~Z815ü 000533 DOC ID #: 00016484756003007 (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 tenns 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 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 costs necessary to keep the Premises in good condition and repair or to perfonn 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 insurance 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 OS/26/2006 and given by us to COUNTRYWIDE HOME LOANS as mortgagee, in the original amount of $ 987, 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 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 penn it 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 paragraph, "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 penn it any other lien or claim against the Premises without your prior written consent. G) INSPECTION: We will penn it you to inspect the Premises at any reasonable time. NO LOSS OF RIGHTS: The Note and this Mortgage may be negotiated or assigned 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 pay off what we owe on the Note and under this Mortgage. If the money you receive from the sale is not enough to pay off 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 payments 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 (10/06) Page 3 of 5 OS28150 DOC ID #: 00016484756003007 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 prese.nt or future laws providing for stay of execution, extension of time, exemption from attachment, levy and sale and homestead exemption. BINDING EFFECT: Each of ns shaB be fnBy responsible for aB of the promises and agreements in this Mortgage. Until the Note has been paid in IhB and your obligation to make fl rther advances under the Note has been tenl1inated, the provisions of this Mortgage will be binding on us, our Ie al representatives, our heirs and aB future owners of the Premises. This Mortgage is for your benefit and for the b nefit of anyone to whom you may assign it. Upon payment in fuB of aB amonnts owing to you under the No e and this Mortgage, and provided any obligation to make further advances under the Note has terminated, this Mortgage and your rights in the Premises shaB end. NOTICE: Except for any notice required under applicable law to be giv n in another manner, (a) any notice to ns provided for in this Mortgage shall be given by delivering it or by mail 19 such notice by regular first class mail addressed to ns at the last address appearing in your records or at snc other address as we may designate by notice to you as provided herein, and (b) any notice to you shaB b given by certified mail, retUn1 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 22 14 or to such other address as you may designate by notice to us. Any noti e provided for in this Mortgage shaB be deemed to have been given to us or you when given in the manner desigr ated herein. RELEASE: Upon payment of all sums secured by this Mortgage and rovided your obligation to make further advances under the Note has terminated, you shaB discharge this Mortg ge without charge to us, except that we shaB 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 MOl1gage will not be a waiver 0 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. c Mortgagor: Mortgagor: .MERS HElOC ·WV MOl1!Jage 2E 037·WV (10,06) Page4of5 ~Þ# 000534· c~;;;).~ . O~28150 000535 DOC ID #: 00016484756003007 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 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 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 ForMERS: 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. DARRYL HþXIE Mortgagor: I KATRINA tOXIE Mortgagor: Mortgagor: Mortgagor: · MERS HELOC - WY Mortgage 2E037-WY (10106) Page 4 of 5 DOC ID #: 00016484756003007 O~28150TATEOFWYOMING, Uf,c'/)/11 . Countyss: )cJO 1 The foregoing instrument was acknowledged before me this !) ~ ? 11 a< øI.... by Dv,rr-t¡/ f/.~; ~ J- .J!~h-.-~ -f-ÍÚV;-<' (date) (persoll acknowledging) .. /_ ð_ .. My Commission Expires: . ;)00 4/'~ ~~ N~~~kY'Ív kf1\vd ~ 000536 VALERIE KITTRELL - NOTARY PUBLIC County of State of Lincoln Wyoming My Comml.slon Expire. April 19, 2008 . ME R S HELOe - WY Mortgage 2E 037 -W Y (10,06) Page 5 of5 tM~~· O~ZSlS0 STATE OF WYOMING, 000537 DOC ID #: 00016484756003007 County ss: The foregoing instrument was acknowledged before me this (date) by (person acknowledging) My Commission Expires: Notary Public . MERS HELOC - WV Mortgage 2E037-WV (10/06) Page 5 of 5 ü~28150 000533 APN:37181920001500 Order 10: 3284445 Loan No.: 164847560 EXHIBIT A LEGAL DESCRIPTION The land referred to in this policy is situated in the State of WY, County of LINCOLN, City of ALPINE and described as follows: The following described real property in the County of Lincoln County, Wyoming That pot of GLO Lots 1 and 2, and that part of the E ~ NW X of Section 19, Township 37 North, Range 118 West, Lincoln County, Wyoming, including part of vacated Lot 44 of Alpine Village Subdivision No.1 Plat 2 Amended of record in the office of the Clerk Lincoln County as Plat No. 264, and all of that tract of record in said Office in Book 606 Photostatic Record on Page 840 described as follows: Beginning at the Northwest corner of said Lot 44; thence North 67 deg 06' 35" East, 55.09 feet, along the North line of said Lot 44, to a point; thence North 68 deg 13' 44" East, 110.95 feet, to a point; thence South 68 deg 53' 36" East, 198.95 feet, to a spike; thence South 24 deg 07' 22" East, 262.55 feet, to a spike; thence South 00 deg 00' 04" East, 191.98 feet, along a line parallel with the East line of said GLO Lot 2, to a spike; thence South 71 deg 34' 44" West, 31.62 feet, to the Northerly most rebar of Lot 46 of said Plat No. 264 , on the East line of said GLO Lot 2; thence South 00 deg 00' 04" East, 107.37 feet, along said East line, to the Southeast surv-kap of said tract in Book 606; thence South 89 deg 58' 15" West, 498.75 feet, along the South line of said tract in Book 606, to a surv-kap on the Palisades Reservoir Take Line; thence North 07 deg 55' 59" West, 280.84 feet, along said Palisades Reservoir Take Line, to a corner; thence North 08 deg 44' 33" East, 394.27 feet, along said Palisades Reservoir Take Line, to the Corner of Beginning. WITH THE APPURTENANCES THERETO. APN:37181920001500