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Recording Requested by &
When Recorded Return To:
US Recordings, Inc.
2925 Country Drive
S1. Paul, MN 55117
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Prepared By: 0(</ (~
MICHELLE TENNISON
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RECEIVED 4/14/2008 at 2:37 PM
RECEIVING # 938245
BOOK: 692 PAGE: 1
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
008001
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00019057497203008
[Doc ID J/]
MORTGAGE
M~ 1001337-0003058550-2
THIS MORTGAGE is made this 31st day of MARCH, 2008
Mortgagor,
PATRICIA L LEICHLITER, AND MARK H LEICHLITER, WIFE AND HUSBAND
, between the
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(herein "Borrower"), and the Mortgagee, Mortgage Electronic Registration Systems, Inc. ("MERS"), (solely as
nominee for Lender, as hereinafter defined, and Lender's successors and assigns). MERS is organized and
existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI
48501-2026, tel. (888) 679~MERS.
COUNTRYWIDE BANK, FSB
A FED SVGS BANK
("Lender") is organized and existing under the laws of THE UNITED STATES , and has an
address of
1199 North Fairfax St. Ste.500, Alexandria, VA 22314
WHEREAS, Borrower is indebted to Lender in the principal sum of U.S. $ 3 7, 000 . 00 , which
inde1:-tedness is evidenced by Borrower's note dated MARCH 31, 2008 and extensions and renewals
thereof (herein "Note"), providing for monthly installment,; of principal and interest, with the balance of
indebtedness, if not sooner paid, due and payable on MAYO 1 , 2038
WYOMING - SECOND MORTGAGE, 1/80 - FNMNFHLMC UNIFORM INSTRUMENT WITH MERS
M Second Mortgage-WY
1076N-WY (04/07)(d/i)
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Form 3851 Amended 2/01
*23991*
* 190 5 7 4 9 7 2 0 0 0 0 0 1 0 7 6 N .
000002
DOC ID #: 00019057497203008
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the
payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security of this
Mortgage; and the performance of the covenants and agreement<; of Borrower herein contained, Borrower does
hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and
assigns) and to the successors and assigns of MERS, with power of sale, the following described property
located in the County of LINCOLN ,State of Wyoming:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
which has the address of
Wyoming
83128
83 BUCK LANE, ALPINE
[Street,City]
[ZIP Code] (herein "Property Address");
TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights,
appurtenances and rent<;, all of which shall be deemed to be and remain a part of the property covered by this
Mortgage; and all of the foregoing, together with said property (or the leasehold estate if this Mortgage is on a
leasehold) are hereinafter referred to a<; the "Property." Borrower understands and agrees 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, (a<; nominee for Lender and Lender's successors and assigns), ha<; the right: to exercise any or all 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.
Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property, and that the Property is unencumbered, except for encumbrances of
record. Borrower covenants that Borrower warrants and wiII defend generally the title to the Property against all .
claims and demands, subject to encumbrances of record.
UNIFORM COVENANTS. Borrower and Lender covenant and agree a<; follows:
1. Payment of Principal and Interest. Borrower shall 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 of principal and interest are payable under the Note, until the
Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and a<;sessment<; (including
condominium and planned unit development assessment<;, if any) which may attain priority over this Mortgage
and ground rents on the Propelty, if any, plus one-twelfth of yearly premium installment<; for hazard insurance,
plus one-twelfth of yearly premium installment<; for mortgage insurance, if any, all a<; reasonably estimated
initially and from time to time by Lender on the basis of assessments and biIIs and reasonable estimates thereof.
Borrower shall not be obligated to make such payments of Funds to Lender to the extent that BOlTower makes
such payment<; to the holder of a prior Mortgage or Deed of Trust if such holder is an institutional Lender.
If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or account<; of
which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution).
M Second Mortgage-WY
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Form 3851 Amended 2/01
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"
DOC ID #: 00019057497203008
Lender shall apply the Funds to pay said taxes, a<;sessment<;, insurance premiums and ground rent<;. Lender may
not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said
assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permit<; 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 Borrower, 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, an annual accounting of the Funds showing credits and debits to
the Funds and the purpose for which each debit to the Funds wa<; made. The Funds are pledged as additional
security for the sums secured by this Mortgage.
If the amount of the Funds held by Lender, together with the future monthly installment<; of Fund<; payable
prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount
required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall
be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower ori monthly installments of
Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance
premiums and ground rent<; as they fall due, Borrower shall 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 sums secured by this Mortgage, Lender shall promptly refund to Borrower any
Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
Lender, Lender shall apply, no later than immediately prior to the sale of the Property or it<; acquisition by
Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this
Mortgage,
3. Application of Payments. Unless applicable law provides otherwise, all payments received by
Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts
payable to Lender by Borrower under paragraph 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 perform all of Borrower's
obligations under any Mortgage, Deed of Trust or other Security Agreement with a lien which has priority over
this Mortgage, including Borrower's covenant<; to make payments when due. Borrower shall payor cause to be
paid all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain
a priority over this Mortgage, and leasehold payment<; or ground rent<;, if any.
5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
Property insured against loss by fire, hazards included within the term "extended coverage," and such other
hazards a<; Lender may require and in such amounts and for such periods as Lender may require.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof
shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form
acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms
of any Mortgage, Deed of Trust or other Security Agreement with a lien which ha<; priority over this Mortgage.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and.Lender. Lender may
make- proof of loss if not made promptly by Borrower.
If the Property is abandoned by BOlTOwer, or if Borrower fails to respond to Lender within 30 days from
the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance
benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration
or repair of the Property or to the sums secured by this Mortgage.
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit
Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit
impairment or deterioration of the Property and shall comply with the provisions of any lea<;e if this Mortgage is
on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall
perform all of Borrower's 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,
M Second Mortgage-WY
1076N-WY (04107)
Page 3 of 7
Form 3851 Amended 2/01
000004
DOC ID #: 00019057497203008
7. Protection of Lender's Security. If Borrower fails to perform the covenant<; and agreements
contained in this Mortgage, or if any action or proceeding is commenced which materially affect<; Lender's
interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearances,
disburse such sums, including reasonable attorneys' fees, and take such action a<; 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 insurance in effect until such time as the requirement
for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall
become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to
other terms of payment, such amounts shall be payable upon notice from Lendèr to Borrower requesting
payment thereof. Nothing contained in this paragraph 7 shall 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 shall give Borrower notice prior to any such inspection specifying reasonable
cause therefor related to Lender's interest in the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in
connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of
condemnation, are hereby a<;signed and shall be paid to Lender, subject to the terms of any Mortgage, Deed of
Trust or other Security Agreement with a lien which ha<; priority over this Mortgage.
10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment
or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in
interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and
Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor
or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by
rea<;on of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by
Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a
waiver of or preclude the exercise of any such right or remedy.
11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenant<; and
agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and
assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreement<;
of Borrower shall be joint and several, Any Borrower who co-signs this Mortgage, but does not execute the
Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Borrower's interest in the Property
to Lender under the terms of this Mortgage, (b) is not personally liable on the Note or under this Mortgage, and
(c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any
other accommodations with regard to the terms of this Mortgage or the Note without that Borrower's consent and
without releasing that Borrower or modifying this Mortgage a<; to that Borrower's interest in the Property,
12. Notice. Except for any notice required under applicable 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) any notice to Lender shall be given by certified mail to Lender's
address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein,
Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given
in the manner designated herein.
13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall be the laws
of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of
federal law to this Mortgage. In the event that any provision or clause of this Mortgage or the Note conflicts with
appli-::able 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 severable. As used herein, "costs," "expenses" and "attorneys' fees" include all sums to the extent not
prohibited by applicable law or limited herein.
M Second Mortgage-WY
1076N-WY (04107)
Page 4 of 7
Form 3851 Amended 2/01
000005
DOC ID #: 00019057497203008
14. Borrower's Copy. Borrower shaH be furnished a conformed copy of the Note and of this Mortgage at
the time of execution or after recordation hereof.
15. Rehabilitation Loan Agreement. Borrower shall fulfiH all of Borrower's obligations under any home
rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at
Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an
assignment of any right<;, claims or defenses which Borrower may have against parties who supply labor,
materials or services in connection with improvements made to the Property.
16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or
any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower
is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate
payment in fuH of aH sums secured by this Mortgage. However, this option shaH not be exercised by Lender if
exercise is prohibited by federal law as of the date of this Mortgage.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shaH provide
a period of not less than 30 days from the date 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 any remedies permitted by this Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as foHows:
17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach 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 acceleration shall give notice to Borrower as provided in
paragraph 12 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, not
less 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 and the right to bring a court action to assert the nonexistence of a default or any other
defense of Borrower to acceleration and 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 and any other
remedies permitted by appllcable law. 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
attorneys' fees.
H 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 appllcable law. Lender shall mail
a copy of a notice of the sale to Borrower in the manner provided in paragraph 12 hereof. Lender shall
publish the notice of sale and the Property shall be sold in the manner prescribed by appllcable 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 and 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 shaH 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) entry of a judgment enforcing this
Mortgage if: (a) Borrower pays Lender aH 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 or agreements of Borrower
contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the
covenant<; and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies a<;
provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower takes
such action as Lender may reasonably require 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
M Second Mortgage-WY
1076N-WY (04/07)
Page 5 of 7
Form 3851 Amended 2/01
000006
DOC ID #: 00019057497203008
such payment and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in fuIl force
and effect as if no acceleration had occurred.
19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security
hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to
acceleration under paragraph 17 hereof or abandonment of the Property, have the right to coIlect and retain such
rents as they become due and payable,
Upon acceleration under paragraph 17 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
appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to coIlect the
rents of the Property including those past due. All rents coIlected by Lender or the receiver shaIl be applied first
to payment of the costs of management of the Property and coIlection 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 rent<; actuaIly received.
20. Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage
without charge to Borrower. Borrower shall pay all costs of recordation, if any.
21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property.
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
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 in this Mortgage, of
any default under the superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHEREOF, Borrower has executed this Mortgage.
- Borrower
- Borrower
- Borrower
- Borrower
(Sign Original Only)
M Second Mortgage-WY
1076N-WY (04/07)
Page 6 of 7
Form 3851 Amended 2/01
000007
DOC ID #: 00019057497203008
STATEOFWYOMJNG, Countyss: k~ Ln
foregoing instrument was acknowledged befo,te. me this .:3 J 5+ ð' /'71 QJ}
by Ll.c..L(À.. L . U... c.JJLA:;-I VI.. ...¡., /1)A1<!.k ¡...J. Ul.· :.-.;f i
My Commission Expires:Sò.p + ~~ 'dD J I
uM!JJ{ 11-1td.JJ-~
Notary Public
TERESA K, ANDERSON - NOTARY PUBLIC
County of . 5t t f
Lincoln W a e,o
yomlng
My Commission Expir'3S September 22, 2011
M Second Mortgage-WY
1076N-WY (04/07)
Page 7 of 7
Form 3851 Amended 2/01
EXHIBIT A
00'0008
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 OF WYOMING, TO-WIT:
LOT ONE (1) OF THE SOUTH LAKES ESTATES SUBDIVISION, LINCOLN
COUNTY, WYOMING ACCORDING TO THAT PLAT RECORDED ON DECEMBER
13, 1991 AS DOCUMENT NUMBER 742139 AND MAP NUMBER 339 IN
THE OFFICE OF THE CLERK, LINCOLN COUNTY, WYOMING.
ADDRESS: 83 BUCK LANE; ALPINE, WY 83128
PARCEL ID NO.: 3718-194-00-014-00
TAX MAP OR
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2134 4/9/2008 75041491/1