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HomeMy WebLinkAbout930816 /'. j' [I. í v 7 'IOf . . ~ " ! I--~~A - -f:~;::{:~ .. ).<. c....-·:;) '. .... . After Recording Return To: COUNTRYWIDE HOME LOANS, INC. MS SV-79 DOCUMENT PROCESSING P.O.Box 10423 Van Nuys, CA 91410-0423 RECEIVED 6/29/2007 at 11 :18 AM RECEIVING # 930816 BOOK: 664 PAGE: 82 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepared By; CLINT HOWARD [Spac. Abo.. ThIs LIn. For R....rdio& Datal. '. 00016899206506007 '(Doc ID II MIN 1000157-0008222364-1 MORTGAGE (Line of Credit) ~ , . {~".. > ' .' TIßSMORTGAGÉ,dated JUNE 21, 2007 ,is between TODD W CLARK, AND PATRICIA LYNN CLARK, HUSBAND AND'WIFE M 1.1 . .~ '·0 residing at 30 REDTOP DR, SMOOT, WY 83110 . . .' the person or persons signing as "Mortgagor(s)" below and hereinafter referred to'as "we," ·our," or "us· ana MORTGAGE ELECTRONIC RBGIS1RATION SYSTEMS, INC., ("MERS") a Delaware corporation, with an address of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MBRS. MERS is the "Mortgagee" under this Mortgage and is acting solely as nominee for . COUNTRYWIDE HOME LOANS, INC. ("Lender" or "you") and ils successors and assigns. .' MORTGAGED PREMISES; In consideration of the loan hereilUÜtenIescribed, We: hereby mortgage, graíÏi . and convey to MERS (solely as nominee for Lender and Lender's sùccessors ai\\1 aSSigns) "and to the successors.,. . and assigns ofMBRS, the premises located at: . ' " . '. '..~:' 30 REDTOP DR " Stnoct . :'. WY State SMOOT MunicJpality. 83110 ZIP (the "Premises"). ALBANY County ',. ,.'. í ,. "'~'. 4\ ':. '; . MERS HELoa - WY Mortgage 2E037-WY (1 OI06)(dII) ... Page 1 olS IIIIII~ . 2 3 991 . 11111111111111111 . 1 6 B 9 9 2 0 B 5 0 0 0 002 E 0 3 7 . o~a0816 DOC ID t: 00016899206506007 and further described as: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOE\', 't1:: , ....~... \ I.U' .' . . The Premises includes all buildings and other improvements now or in the future on the Premises and all rig!1ts aild interests which derive from our ownership, use or possession of the Premises and allllppurtenances 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, MBRS (as nominee for Lender and Lender's successors and assigns) has the right. to exercise any or all of those interests, including, but not'limited to/the tight to foreclose and sell the Property, and to take any action required of Lender including, but not Jimitèd to, releasing or canceling this Mortgage. LOAN: This Mortgage will secure your loan to us in the principal amount of $ 31, 806.00 much thereof as may be advanced and readvanced from time. to time to ", '.. '. '. TODD W. CLARK . l.. PATRICIA LYNN CLARK ";. ~..r t , the Boaower(s) under the Home Equity Credit IJne Agreement and Disclosure Statement (the "Note") dated JUNE 21 , 200 7 , plus interest and costs, late charges and all otherchargcs related to the loan, all of which sums arc repayable according to the Note. This Mortgage will also secure the performance of all of the promises and agreements made by'us and each Borrower and Co-Signer in the Note¡':all of.·ouè promises and agreements in this Mortgage, any extensions, renewals, amendments, supplemomts and other modifications of the Note, and any amounts advanced by YOIl under tbe terms of the section ~fthis 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. " ~ . " 'h ':::J OWNERSHIP: We arc the sole ownei(s) of the Premises. We have the legal'righi'ìo mortgage the Premises"to you. OUR IMPORTANT OBUGATIONS: , . (a) TAXES: We will pay all real estate taxes, assessments, water 'charges and seweÍ'rertts' ~ating to the Premises when they become due. We will not claim any credit on, or inakc d~ction·'from, the lòån under the Note because we pay these taxes and charges. We will provide you with~rôof 'of paym~t uppn rcqu~t. '. .' '. .. (b) MAINTENANCE: We will maintain the building(s) on th~ Premises in good condition. We will not make major changes in the building(s) except for nonnal 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 Mortgage is on a unit in a condominium or a planned: 'unit development, we shall ,perfuim' all of our 'I?bligations under the declaration or covenants creating or governing the condominium or planiiéd unit develcpment, tlie by-laws and regulations of the condominium or planned unit development and constituen~ dócuments:· . . . . . " : (c) INSURANCE: We will keep the building(s) on the Premises insured at all times against logs by fire, flood and any other hazards you may specify. We may choose the insurance' éom~any, but our choice is subject io' your reasonable approval. The policies must be for at least the amounts and the t1'meperiods that you specify. We will deliver to you upon your rcquest' the policies or other proof of the insurance, 'The pOlÌcies'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 tl1at you be given not less than 10 days prior written notice of any cancellation or reduction in coverage, for any reason: Upon request, wè shall deliver the policies, certificates or other evidence of insurance to Y0l,l: In the event of loss or daÍJiagè'lo the Premises, we will iounediately notify you in writing and file a proof of loss with the insuter. You máy fiIè aproof of loss on our behalf if we fail or refuse to 'do sO. You may also sign ournaine' to any chec1é,.. draft or lither order for the payment of insurance proceeds in the event ofIoss or damage tó tliepremiscs. If you receive payment of a' claim, you will have the right to choose to use the money either to repl!it· tire P~ses or to reduce the amount owing on the Note. ' '. , . ., ". ' ; ". " ~ .' , . ., ~". . MERS HELOC - WY Mortgage 2E037-WY (10/06) Page 2 of 5 ..( ''; ,. , ''rr, ~'. . .... .... OO¿..(j4....," " , ~J1,.W t~~l.'"'.;.;~ or 8:) ,and -, " " ": r. '\ :.... ", 0930816 " " DOC ID .: 00016899206506007 (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 Prcmises. ,or part thereof, or for conveyance in lieu of condemnation, all of whic~ shall be paid to you, subject to the terms of any Prior Mortgage~ (e) SECURITY INTERBST: We will join~with you in signing and' filing docume'.l!S and, at our C?xpense, in, doing whatever you be1ieve is necessary to perfect and continue the perfectio~ of y~ur ~en an~ security interest in the Premises. It is agreed that the Lender shall be subrogated to the claims and lir.ris of all parties whose claims or 1iens are discharged or paid with the proceeds of the Agreement secured hereby. ", (t) OUR AUfHORlTY TO YOU: If we fail to perform our obligations under this MOrtgage, you may, if you choose, perform our ob1igatlons and pay such costs and expenses. You wilradd the amounta you advance to the sums owing on the Note, on which you will charge intelCSt at the interest iate set forth in thè "Nòte:'If, 'lor ex¡unple, we fail to honor our promises to maintain insurance in effect, or to pay ming fees, taxeà, or !he cþsis 'ne~essåry to keep the Prcmises in good condition and rcpair 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 y~1U 8I!d charge us interest on suèh advances at the interest rate set forth in the Note, This Mortgage secures all such,',pdÝances. Your,payments on our behalf will not cure our failure to perform our promises in this Mortgage. kIY repÌàcemendnsurance that yoù obtain io cover loss or damages to the Premises may be limited to the amount owing' on the Note plus the amount of any Prior Mortgages. ' " ' ". I . .1.... (g) PRIOR MORTGAGE: If the- provisions of this paragraph are completed, this Mortgage is subject and subordinate to a prior mortgage dated DECEMBÈR 01, 2006 and given by us to WELLS FARGO HOME MORTGAGE '" as mortgagee, in the original amount of $ 213,.750.00 ,(the "Prior ,¥ortgage"). We shall not increase, amend or modify the Prior Mortgage without your prior written cons~l't ahd'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 wh~ required under the, Prior Mortgage. , i, (h) HAZARDOUS SUBSTANCES: We shall not cause or permit tlÍe presence, ,use, disposal; storage, or rclease of any Hazardous Substances on or in the Premises. We shall not do,: nor allow lII1-yoiiè e1Se'ïò do;" anything affecting the Premises that is in violation of any Environmental Law. The preceding two'senten~ slÍall nOt'.apply to the presence, use, or storage on the PremiseS of small quantities of-Hazardous Substances fuat are generally recognized to be appropriate to normal residential uses and to II1II4tten8Ilce 'of the rlemises. As uSed in thiS; paragraph, "Hazardous Substances" are those substances defined ,a's. ':, ~oxic or hazardous subs,tances' by Environmental Law and the following substances: gasoline, kerosene, other f)¡immable or toxic petroleum: products, toxic pesticides and herbicides¡ volatile solvents, materials containing asbestos or formaldehyde, 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 envwnmcntal protection. " ' '. . ", ,r I' \' . (i) SALE OF PREMISES: We will not sell, transfer ownershiII at'; '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. ,," ' ' , ,lit ,;'.. ' (¡) INSPECfION: We will pemiit you to inspect the Premises at, any I;eason~hle time; , NO LOSS OF RIGHTS: The Note and this Mortgage may be negotiated ora'Ssigned by you 'W¡thòùt"r~eal!ingus or' the Premises. You may add or rclease ahy person or property obligated under the Note and this Mortgage without losing your rights in the Prcmises. ,I I ~ ';" ,. . ......, . . . .,. \ . .. 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 118 desCribod 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 ordec to payoff what we owe on !he 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 diffecence which you may seek to collect ÛODl us in accordance with applicable law; In addition, you may, in accordance with applicable law, (i) enter on and take possession of the Premises: (ü) collect the rental paymentS, including over-due rental payments., directly froin tenants after simply 'tiotlfying them '{jist claSs mail to make rental payments to you; (iii) manage the' Premises; and (iv) sign, cancel 'and change leasCs. We agree that tile interest rate set forth in the Note will continue before and after a default, eIÌÚy of ajud~t and foreclosure. In addition, you shall be entitled to collect all reasonable fees and costs actually ih'curt~, by you in proceeding to foreclosure, including, but not limited'to, reasonable attorneys fees and cosis of documentaèy evidence, abstracts ASSIGNMENT OF RENTS: APPOINTMENT OF RECENER: As additiortål security, we lissign to you the rents" of the Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take pOssession af and manage the Premises and collect the rents of the Premises including those, pasi due after simply notifying th~m by' fltSt class mail to make rcntal payments to you. .' ' ~,... . ", . MERS HELOC . WY Mortgage 2E037-WY (10106) Page 3 of 5 \,., .; ,. ~. ' I~ ,'._,' ~. ~ f , ÌI"~""t l~;-i ,..It \;...:'~ "t..,,~1 '~~~¡';\~i~ . " 0930816 " DOC roD #:':'00'016899206506007 WAIVERS: To the extent pcnnitted ,by applicable law. we waive and mlC1lse any' error of defccts in proceCdings to enforce this Mortgage and hereby waive the benefit of any present Ôr futÙre laws providing fÒr stay of executiôn, extension of time, exemption from attachment, levy and sale and homcstead,exemption. ' ;'., . . I. . BINDJNG EFFECI': Each ofus shall be fully responsible for all of the promises and agrce~en't8,iq Ìhis:Mortgage, Unûl the Note has been paid in full and your obligation to make further 'advanccs',un~ the Ñot~ hasbccn terminated, the provisions of this Mortgage will be binding on us, our legal representatives, our heirs and all future owne.rs of the Pmmises. 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 undet'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 mailiIig such notice by regular fust class mail addressed to us at the last address appearing in your records or at such" o,ther 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 ' " ' . Por MERS:i;l P,O. Box 2026, Flint, MI 48501-2026 !! Por Lender. 4500 Park Granada MSN# SVB-314, Calabasas, CA 9130~-1613 or to such other addres., a., you may dc.~ignate by notice to us. Any notice provided for in tbis Mortgage shall be deemed to have been given to us' or you when given in the manner desi~ated herein. , ' ..' '", ',,: (1"j:'I;... ,:~. RELEASE: Upon payment of all sums secured by this Mortgage and 'provided your obligation to make further advances under the Note has tenninated, you shall discharge this Mortgage without charge to uS; except that wè shall pay any fees for recording of a satisfaction'of this Mortgage. ,'." :; , i' 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 thi~ Mortgage will not be a waiver 0tthat or any o~t:tJ)rovjsion on any otht:t occasion. ' ;.",', TIllS MORTGAGE has been signed by tl)Ch of us under seal on the diltefiist above written. ~" -£¿/ V dA' ..c~4/ .4? -,j:.Qötll1w-Vt:LARK " Mortgagor: '..;'. , , " " ~ '< ' , . ," l~"-\('~~'~'~~~ P:ÀTRro:j:A1i>-~ cLARÍ< ", ' Mortgagor: ~l~_ex:.. I .L· .... ........ Mortgagor: f\ Mortgagor: -' J '\. i:..·· ,~ . .. . MERS HElOC . WY Mortgage 2E037·WY (10/06) :~t Page 4 of 5 if\.{\ (r~ ,f.-III/'.;' 1,.,\' \t,.P "\... ....,i -.c}f '.....~!.i...,.~,!. lol~d(:)l O~3081b STATE OF WYOMING, .'-'''-'-- . ~co,l~ ,..n, Æ"II 41''>, r<l ,r.. if; ", (I r'o,¡ ~" J'~ ~,~d" 1 ..., '... ... ., ,..-' .,r ,DOC ID .: 00016899206506007, County SS:' The foregoing instmment was acknowledged before me this ,,- by f(l My Commission Expires: . MERS HELOC . WY Mortgage 2ED37-WY (10/06) L 1~6'07-----~ o«~ LAURA L, AXFORD - NOTARY p'UBUC County of liRcöln State of, ' Wyoming :' tJ-Iró, ".:.;, .1;' h Page 5 of 5 09a081.6 i.,' """".,,~. ""',1 1 OI\J~ }'~O.~'¡. ~' Prepared by: CLINT HOWARD COUNTRYWIDE HOME LOANS, INC: DATE: 06/21/2007 CASE #: DOC ID#: 00016899206506007 BORROWER: TODD W. CLARK PROPERTY ADDRESS: 30 REDTOP DR SMOOT, WY 83110 Branch t: 000084'4' , 2380 PERFORMANCE DR RGV-C 844 RICHARDSON, TX 75082 Phone: (888) 973-8383 Br Fax No_: (972)781-3683 LEGAL DESCRIPTION EXIllBIT A ~~. Lot 2 of Red Top Subdivision, Lincoln County, Wyoming as described on the official plat filed on August 8, 2002 as Instrument No. 883070 of the records of the Lincoln County Clerk. . ' ~." .. FHAlVAlCONV Legal Descrtptlon exhibit A 2C404·XX {D4I03)(dJ 1111111 . 2 3 9 9 1 . 111111111111111111 . 1 689 9 2 065 0 0 0 0 0 2 E 0 3 7 .