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HomeMy WebLinkAbout932710 ~ RECEIVED 8/31/2007 at 3:50 PM RECEIVING # 932710 BOOK: 670 PAGE: 817 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, wY 00081? When recorded return tOt!o") I IOU (H) Custom Title Solutions 0 tA11 1J ßÀq 2550 N. Redhill Ave. ~-?J ï VI Santa Ana, CA 92705 (800)756-3524 ext. 5754 or 5996 REC D 4/13/2007 at 2:13 PM RECEI G # 928387 BOOK: 654 PAGE: 353 JEANNE NER LINCOLN COUNTY CLERK, MERER, WY Prepared By: PAT BAYES ItXIOl , (J '[Space Above This Line For Recording Data] fJf I\J: 3 ,,;/J ()-DIi ,0£.,,,002- '63/.L/8=1Cf -OD 'vlCG\se re-recQfd t{) eorrvcJ the lC0&tl de5Cíirtìcn .Dn Mfq rec.()(ded 111 ßOO['(.;(çÇ2} MORTGAGE f\ (Line of Credit) V4~e,f36~ THIS MORTGAGE, dated MARCH 27, 2007 , is between RICHARD SCOTT BECK, AND CHRISTIA M BECK, HUSBAND AND WIFE, AS TENANTS BY THE ENTIRETIES 00016463191203007 [Doc ID H] MIN 1001337-0002095374-4 1(,/ residing at PO BOX 4252, BEDFORD, WY 83112 the person or persons signing ac¡ "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. l\-IERS is the "Mortgagee" under this Mortgage and is acting solely ac¡ nominee for /,> Countrywide Bank, FSB. v ("Lender" or "you") and its successors and ac¡signs. ¡ ( ~) v'\¿~ L- MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby mortgage, grant fL . and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and ac¡signs of MERS, the premises located at: 555 HOBACK Street WY State THAYNE Municipality 83127 ZIP (the "Premises"). LINCOLN County · MERS HELOC - WY Mortgage 2E037-WY (1 OI06)(d/i) Page 1 of 5 · 2 3 991 · . 164 6 3 1 9 1 2 0 0 0 0 0 2 E 0 3 7 . 000354 OSZ~3~7 and furtfier dê.<¡cribed as: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. DOC ID #: 00016463191203007 000818 The Premises includes al] buildings and other improvement<¡ now or in the future on the Premises and al] rights and interest<¡ which derive from our ownership, use or possession of the Premises and al] appurtenances thereto. WE UNDERSTAND and agree that MERS is a separate corporation acting solely as nominee for Lender and Lender's successors and a<¡signs, and holds only lega] title to the interest<¡ granted by us in this Mortgage, but, if necessary to comply with law or custom, MERS (a<¡ nominee for Lender and Lender's successors and a<¡signs) ha<¡ the right: to exercise any or al] 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, relea<¡ing or canceling this Mortgage. LOAN: This Mortgage will secure your loan to us in the principal amount of $ 93, 000. 00 or so much thereof as may be advanced and readvanced from time to time to RICHARD SCOTT BECK , and the Borrower(s) under the Home Equity Credit Line Agreement and Disc]osure Statement (the "Note") dated MARCH 27, 2007 , plus interest and costs, late charges and all othercharges related to the loan, all of which sums are repayable according to the Note. This Mortgage will also secure the perfonnance of all of the promises and agreements made by us and each Borrower and Co-Signer in the Note, all of our promises and agreement<¡ in this Mortgage, any extensions, renewals, amendments, supplements and other modifications of the Note, and any amount<¡ advanced by you under the tenns 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 tenns of the Note and subject to the Credit Limit set forth in the Note. OWNERSHIP: 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 all 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 bui]ding(s) except for nOl111al 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 perf 01111 all of our obligations under the declaration or covenant<¡ 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 bui]ding(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 rea<¡onable 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 a<¡ "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 canceUation or reduction in coverage, for any rea<¡on. Upon request, we shall deliver the policies, certificates or other evidence of insurance to you. III 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 tile 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 will 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 (10/06) Page 2 of 5 0328387 000355 000819 DOC ID #: 00016463191203007 (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) SECURlTY INIEREST: We will join with you in signing and filing document\) 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. (t) OUR AUTHORlTY 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 cost\) necessary to keep the Premises in good condition and repair or to perform any of our other agreement\) 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 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 relea\)e 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: ga\)oline, 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 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 permit any other lien or claim against the Premises without your prior written consent. (j) 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 framus 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 payment\), 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 lea\)es. 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 O~28J87 000356 DOC ID #: 00016463191203007 WAIVERS: To the extent pennitted 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. 000820 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 a')sign 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 tenninated, 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 a') we may designate by notice to you a') 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, M148501-2026 For Lender: 1199 North Fairfax St. Ste.500, Alexandria, VA 22314 or to such other address a') 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 tenninated, 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. a~fJ 4~ &L RICHARD SCOTT BECK ~ è~\~~ ~, . ..... CHRISTIA M. BECK ~ ~ Mortgagor: Mortgagor: Mortgagor: · MERS HELOC - WY Mortgage 2E037-WY (10/06) Page 4 of 5 O~2838~~ STATEOF \y()~mmt¡ COUNTY OF I n f~1 t1 On 4 - ' I. Ó 1 before Me, K, rn cSé}¡(l~ J:;er ~;;~~"ð2-Icl1MJ~{)Jfbetl4- CJ¡rishl (h ß-eU: 000357 000821 Personally known to me (or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) islare subscribed to the within instrument and acknowledged to me that helshe they executed the same in his/herltheir authorized capacity (ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Signa '< ~ltn ~chvi¿b-&Vr (This area for notarial seal) O~2SJ87 ,000358 000822 APN: 3418-061-02-002-00 Order 10: 3314899 Loan No.: 164631912 EXHIBIT A LEGAL DeSCRIP The land referred to in this policy is situated in the te of WY, County of LINCOLN, City of THAYNE and described as follows: The following described tract of land in Linca County, State of Wyoming, hereby releasing and waiving all rights under and by virtue of th omestead exemption laws of the State, to-wit: Lot 3 Cedar Creek Ranches Subdivisi n, according to that plat thereof as recorded in the Office of the County Clerk, Lincoln County, oming. WITH THE APPURTENANCES T ERETO. APN: 3418-061-02-002-00 O~283S7 000356 I DOC ID f: 00016463191203007 W ANERS: To the extent pennitted by applicable law, we waive and release any error 01' defects in proçeedings to , enforce this Mortgage and hereby waive the benefit of any present or future laws providing for stay of execution, extcnllion of lime, exemption from altachmcnt, levy and sale and homcslCad exemplion. BINDING BPPBCT: Bach of 118 shall be fully æspoøsible for all of the promiSCIJ and a¡RCIIICIOla in Ibis MOIt¡age. Until the NOIC has been paid in full and your oblipdon 10 mate further advances under the Note has been tcrminalcd, Ibc proviaiona of Ibis Mortgage will be binding on 118, our legal representatives. our heUa and all fubJre owncra of Ihc Premiaea. 'Ibis Mortgage is (or your benefit and for the benefit of anyone to whom you may assign iL Upon JIIIYIIICIIt in full of all amounts owing to you under Ibe Nolt and Ibis Mortgage. and provided any obligation 10 make further advances under Ihc Note has terminated, this Mortgage and your rights in the Premises I shaD end. , NOTICE: Bxccpt for any notice required under applicable law to be givCII in another IDIIIUICI', (a) any nolicc to us , provided for in Ibis Mortgage shall be given by delivering it or by mailing such notice by regular filSt class mail addrclllOd to us at Ibe last address ap ICIIriog in your recorda or at such other .sdrcas as we may designate by notice to you as provided herein, and (b) any notice 10 you shall be giVCII by certified maiJ, return receipt I'CC UCIIICd. to your address at For~: P.O. Box 2026. Flint, MI 48S0l-2026 For Lender. 1199 North Fairfax St. Ste.500, Alexandria, VA 22314 or to such other 8ddreas as you may dcaignate by notice to us. Any notice provided for in this Mortga&e shall be deemed 10 have been givCII to \IS or you when given in Ihc manner deaignated hcœin. ; RBLHASB: Upon payment of all sums secured by Ibis Mongagc and provided your obligation 10 make further adVIIJJÇC8 under the Nolt has terminated, you shall discharge this Mortgage without charge to US, except that we shaD pay any feca for recording of a sati*lion of Ibis Mortpgc. GBNBRAL: You can waive or delay enforcing any of your righla under this Morr¡agc wilhout 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 J occasion. TInS MORTGAGE has bcCn signed by caeb of \IS under seal on the date first above written. Læ.ß~.nIJ &1 SCOTT BECK é/dcwfJ k~ -&d. . . MEAS HELOC ~ W'f Mor1gll 8 I 2E037-W'f (1010t1) I I ¡ Page 401 5 000823 « ,. STATE OF ()JL~ COUNTY OF ~ 000824 OnÛ1j~¡..iÁ1;f lb. 2007 before Me, ~ k~e~ a{;f, Notary Public Personally Appeare(d~) ,~~~ + ~~ m,-~ Personally known to me (or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) islare subscribed to the within instrument and acknowledged to me that helshe they executed the same in hislher/their authorized capacity (ies), and that by hislher/their signature( s) on the instrument the person( s), or the entity upon behalf of which the person( s) acted, executed the instrument. WITNESS my hand and official seal. ~rC~ . ~e of Notary Public jClí')ì~ K, fa\( t>orr" It·I''I¡,~: JANICE K. EAFt.- County of Lincoln My Commission Expires August 13, 2010 NOTARY PUBLIC State of Wyoming ",.,;IIt (This area for notarial seal) JANICE K. EARHART. NOTARY PUBLIC County of ~ State of Llncol~ .. Wyoming My Commission Expires August 13, 2010 000825 APN: 3418-061-02-002-00 Order ID: 3314899 Loan No.: 164631912 EXHIBIT A LEGAL DESCRIPTION The land referred to in this policy is situated in the State of WY, County of LINCOLN, City of THAYNE and described as follows: The following described tract of land in, Lincoln County, State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State, to-wit: Lot 29 Cedar Creek Ranches Subdivision Second Filing, Lincoln County, Wyoming.as described on the official plat No. 215-F filed September 7,2005 as Instrument No. 911629 of the records of the Lincoln County Clerk. WITH THE APPURTENANCES THERETO. APN: 3418-061-02-002-00