HomeMy WebLinkAbout873573May-24-01 12:07pm From-COUNTRY WIDE HOME LOANS
WMEN RECORDER MAIL. TO:
CouNTRYwIDE HOME LOANS, INC.
MSN SV-70 i DOCUMENT CONTROI_ DEPT
P.O. Box 10266
VAN NUYS. CALIFORNIA 91 6 7 0-0266
IOC IP r 000230993137102
ESCROW/CLOSING s• A4611
+9703393507
373 a 3
SPACE AROVE FOR RECORDERS USE
T-426 P.15/34 F-288
RECEIVED
LiNUA-I'l (C)i air f"t CLERK
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~ A k~i i.. 4 u 1 L
6r EIIA M E11` R' INN 0INI N
Praperno pr: R CONTER 61
BOOK PR PAGE ,
MORTGAGE]
THIS MORTGAGE is made this 24th day of May , 2001 , bcmedn me Mortgagor,
JOHN CDNARD, AND ARLETTC CONARD, AS JOINT TENANTS WITH RIGHT OF
SURVIVORSHIP
(heroin *Borrower"), and the Mortgagee,
COUNTRYWIDE HOME LOANS, INC. OR
a corporation organized and existing under the laws of NEW YORK > whose address is
4500 PARK GRANADA, CALAWAS. CA 91302-1613
(herein "Lender).
WHEREAS, Borrower is indebted to Leader in the principal sum of U.S. S 76, 500.00 . which indebtedness
is eviler M by Borrower's note dated May 24 , 2001 and extensions and renewals thereof (herein "Noce"),
providing for monthly installments of principal and inieresr, with the balance of indebtedness, if not sooner paid, due and payable
on June 1, 2011 ;
TO SECURE to I order die repayment of the uidebtedness evidenced by the Note, with interest thereon; the payment of all
other sums, with interest thereon, advanced in accordance herewilb W Prowl the SOCtuitY of this Mortgage; and the performance of
the covenants and agreements of Borrower herein contained. Borrower does hereby mortgage. grant and convey to Leber, with
power of sale, the following described property located in the County of L I NCO LN , Stare of Wyoming:
LOT FORTY (40) IN STAR VALLEY RANCH PLAT SIX (6) AS PLATTED AND RECORDED
IN THE OFFICIAL RECORDS OF LINCOLN COUNTY, WYOMING-
which has the address of 556 VISTA WEST DR
[sueul
THAYNE Wyomin883127-9476 (herein "Property Address");
IC,ryl [Zip Code]
TOGETHER with all the improvements now or hereafter erected on the property, and alI easements, rights, appurtenances and
rents, all of which shall be deeaned try be and remain a part of the property covered by this Mortgage; and an of the foregoing,
together with said property (or the leasehold estate if this Mortgage is on a leasehold) era hereitudler referred to as the "Property,"
Borrower covenants that Rormwer is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and
convey the Property, and that the Property is uneru'atmbered, except for encumbrances of sT%4, ApiT
4% AM; ZAA.
WYOMING - SECOND MORTGAGE - 1AD. FNMArFHLMC UNIFORM INSTRUMENT
Form "51
4
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0873573 `62
0OC In # 000230993137102
Bmmwcr warrants and will defend generally the I* to the Property against all claim and demands, subject to encurmbnauces of
record.
UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
L Pttymept of Prlttt'ipal 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 TXM and INurance. Subject To applicable law or it wnuen waiver by Lender. Borrower shall pay to Lender
on the day monthly payments of principal and rnaereSI are payable under the Not,. until the Note is paid in full, a sum (herein
"Funds") equal to one-twelfth of the yearly taxes and assessments (including conddonuruum and phmged unit development
assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if any. plus one-twelfth of
yearly premium installments for hazard insurance, plus one-twelfth of yearly premium inswkwis for mortgage insurance, if any,
all as reasonably estimated initially and from time to rime by Gender on the basis of assessments and bills and reasonable estimates
thereof. Borrower shall riot be obligated w make such payments of Funds to [ender to the extent that Borrower makes such
payments to the holder of a prior mortgage or decd of trust if such balder a an institutional tender.
If Borrower pays Funds w Lender, aw Funds shall be held in an institution the deposits or accounts of which are insured or
gtuaranteed by a federal or stare agency (includung Lender if Londe; is such an insuw0m). Lender shall apply the Funds to pay said
taxes, assessments, insurance pr"mums and ground rents. Lender may not chargo for so holding and applying the Amds, analyzing
said account or verifying and compftg said assessments and bills, unless Lender pays Borrower interest on the Funds and
applicable law permits Lender w make such a charge. Borrower and Lender may agree in wnung at the time of execution of this
Mortgage xhat 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 regtnrrd to pay Borrowo any inrerest or earaungs on the Funds. Lender shall give to
Borrower, without charge, an annual accounting of dw funds showing ereaits and gebits w the FkLnds and the purpose for which
each debit to the Funds was 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 instaUntertts of Fronds payable prior w ttte due
dates of taxes, assessrhertis, insurance premiums and ground tents, shall exceed the amount required to pay said taxes, assessments,
inuounce premiums and grand rents as they fall due, such excess shah be, at Borrmwer's option, either promptly repaid to
Borrower or credited to Borrower On monthly 4L%d iments Of Funds. If d w amount of the Funds held by Lend" shall not be
sufficient to pay taxes, assesstneuuts, insurance premiums and ground rents as they fall due, 8wower shall pay to Lender an
amount ricousi ry w make up the deficiency in one or more payments as (.ender may require. any
Upon payment in full of all sums secured by this Mongage, lender shall promptly refund to Borrower Any FUU49 held by
Lender. If under paragraph 17 hereof the Property is sold or the Property is otfrerwisc acquired by Lender, Lender shall apply. no
lacer than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by L=Kler at the time of
application as a credit against the mms Secured by this Mortgage-
3. Appliegidon of PaymeaI4. Uatless applicable law provides otherwise, all payments received by Leander under the Note and
paragraphs 1 and 2 hereof shall be applied by 1,=Jer fist in payment of amounts payable to Lender by Borrower under paragraph
2 hereof, then in interest payable on the Note, and then to the principal of the Note.
4. Prior Mortgages and Deeds of Tnrst; Charges; Lk w. 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 Borrowu's
covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines and
impositions aunbaw0le to the Property which may auaiu a priority over this Mortgage, and leasehold payments or ground rents, if
any.
5. Hau N Iusuraw*_ 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 as 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 in approval by Lender; provided, that such
approval shall not be unreasonaply withheld. All inswuce polictGS and renewals thereof shall be in a fort aectpiable to Lender
and shall include a standard mortgage clause in favor of and in a forth acceptable to Lender. Lender shall have the right to hold the
policies and renewals thereof, subject to the terms of any mortgage, decd of trust or other security agreement with a lien which has
priority over this Mortgage.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Leader may make proof of loss if
not made promptly by Borrower-
if the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is
mailed by Leader to Borrower that the insurance carrier offers w settle a claim for insumce, benefits.. Lender is autttortzed to
collect Bpd apply the insurance proceeds at L.eader's option either w restoration or repair of the Property or to the sums secured by
this Mortgage.
ti. Preservation and Maintenance of Property; Lcuseholds; Condominiums; Planned Unit Ueveloptueum Borrower
shall keep the Prnperry in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall
comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is out a unit in a condominium or a
planmA 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
devek u, and constiment documents.
7. PrIamctinn of Lender's Security. If Burrower fails to perform the covenants and agreements contained in this Mortgage,
or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then !.ender, at !tender's
option, upon notice w Borrower, may make such appearances, disburse such sums, including reasonable atuuneys ,fP, ~L° - _ ;
~'s intrust. If Lender required mortgage insurance as it 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
tequinemcnt 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 9, wuh interest thereon, at the Noce rate, shall become additional
1 indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to odd terms of payment, such arnotutts
payable upon notice from Lender to Borrower requesting
payment thereof. Nothing contained in this paragraph 7 shall
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DOC I0 # 000230993137102
8- I>tspectiotin. Lender may make or cause to be made reasonable entries upon and inR=dons of die property, provided that
Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related m Lender's interest in
the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct ex consequential, in connection with any
condentnanioa or other taking of the Progeny, or part thereof, or for conveyance in Lieu of cond0mr nom, are hereby assigned and
shall be pairs to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with alien which has
priority over this Mortgage.
10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the titre for payment or modMcation of
amortization of the sums secured by this Mortgage granted by lender w any successor in interest Of llonower shall not operate to
tckaw. in any manner, the liability of the original Borrower and Borrower's successors in vlmrest, render shall not be required to
commence proceedings against such successor or refuse to extend tune for payment or otherwise modify amorrizwou of the sums
secured by this Mortgage by reason of any demand made by the original BOrrowcr and .Borrower's successors in interest. Any
forbearance by Lender in eimising any right or remedy hereunder, or Otherwise afforded by applicable law, shall not be a waiver
Of or laeclude the citercise of any such right or remedy.
U. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject
m tae provisions of paragraph 16 hereof. All covenants and agreements of Sorrower 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) agt7GeS that Lander and any other Borrower hereunder may a$= to exletid, modify, forbear, or make any
otbar aooorrurrodadom wish rt-gaird w ihr: rams of mis Morgage Or 1110 Note withtwt that Bormwer's consent and without releasing
that Borrower or modifying this Mortgage as w that. Borrower's interest in the Property.
12. Notice. Except for any nonce required under applicable law to be given in at>Qther tnanaer, (a) any notice to Borrower
provided for in this Mortgage shall be given by delivering it or by Walling streh notice by ccrtifmd mail addressed to Borrower at
the Property A.d&= or at such other address as Borrower may designate by notice to Fender as provided herein, and (b) any
notice to render shall be given by certified mail in Gender's address stated herein or 10 such other address as Lender may designaie
by notice m Borrower as provided herein. Any notirx provided for in this Mortgage shall be deemed to have been given to
Borrower or LziWer When given in the mar= designated herein.
13. Governing Law; Severabdity. The state and local laws applicable to this Mortgage shalt be the laws of the misudott in
whicb the Property is located- The foregoing sentrrice shall not limit the apptirabiluy of Federal law to this Mortgage. In the event
that any provision or clause of this Mortgage or the Note contlim with applicable law, such candler stroll not affect other
provisioos of this Mortgage of die Note which earl be given effect without the conflicting provision, and rR this end rte provisions
of this Mortgage and the dote are declared to be severable- As used herein, "costs,' %xpenses" and "au meys' fees- include all
sums 10 dw extent not pro hibited by applicable law or limited herein.
14. Bor'rower's Caps. Borrower shall be fomishod a conformed copy of the Note and of this Mortgage at the time of
execution or after recmdadon hereof.
IS. Rebabiliration Loan Agrcetueut. Borrower shall fulfiU all of Borrower's obligations ruttier any home rehabilitation,
unprovemenl, repair, or Other loan agreement which Borrower enters into unth bender. [.ender, at Lender's option, may toquhre
Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which
Borrower may have against parties who supply labor, materials or services in onnnecuon with improvemenis 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 tramfeired and Borrower is not a natural person) without
Lender's prior written consent, Lender may, at its opticm, require immediate payment in full of all stuns secured by thus Mortgage
HOWMr, this option shall not be exercised by lender if exercise is prohibited by federal law as of the dart of this MoRage.
If Lender exercises On option, Lender shall give Borrower notice of w-celeration. 'The novice shall provide a period of not less
than 30 days from the date the notice is delivered or mailed widoin which Borrower must pay all sums sectucd by this Mortgage. If
Borrower fails 10 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 follows:
17. Acceleration; Remedies. Except as provided in paragraph 15 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sunr$ secured by this Mortgage,
Lender prior to aeceleration shall give notice to Borrower as provided in paragraph 12 herevt specifying: (1) the breach;
(2) the action required to cure suck breach; (3) a date, not Jells 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
tray result in acceleration of the sums secured by this Mortgage. The notice shall further Worm Borrower of the right to
reinstate after acceleration and the right to bring a court action to assts tae nonexistence of a default or any other defense
of Borrower to acceleration and sale. >U the breach is not cured on or before the date specified in the notice, Lender, at
Leader's option, spay declare all of the sums secured by this Mortgage to be lmtaediately due and payable without further
demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender slush be entitled to
cotieet all reasonable costs trod expenses incurred in pursuing the remedies provided in this paragraph 17, indrrdi4g, but
not limited to, reasonable attorneys' tees.
It Louder invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in
possession or the Property, it different, is accorclance with applicable law. Leader shaA mail a copy of a notice of the sale to
Borrower in the maAnr. ,:...v;.:a w --4reoi. sender shall publish the notice of sale and the property shall he
sold in the manner prescrr'bed by applicable law. Lender or L.endees designee may purchase the Property at any sale The
proceeds of the sale shall be iipplW in the following order: (a) to all reasonable oast; and expenses of the sale, including,
but not hiottGd to, reasonable attorneys' fees and costs of title evidence; (b) to all suers secured by this Mortgage; and (c)
the excerr, it any, to the person or persons legally entitled thereto-
FF,
May-24-01 12:09pm From-COUNTRY WIDE HOME LOANS +9703393507 T-426 P.18/34 F-288
0873573 3611
ARLETTE CONARD
r L[~ _ p
(seal)
• n3ormwcr
- AoriParor
(seat)
- $6rrower
(Seal)
- sorrawer
(Sign ong wl on;yl
DOC ID # 000230993137102
III. Borrower's Right to Reinstate. Notwithstanding Under's acceleration of the stems secured by this Mortgage due to
Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mote discontinued
at any time pnor to the earlier to occur of (i) the fifth day before We of the property pursuant to the power of sale contained in this
Margw or (i) entry of a judgment enforcing this Mortgage if, (a) Borrower pays Lender all sums which would be then due under
this Mortgage and the Now had no acceleration occurred; (b) Borrower cures all brewhes of any other covenants or agreements of
Borrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants and
agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof,
including, but not limited to. reasonable aaomeys' fees; and (d) Borrower takes such action as Lender may reasonably require w
assure that the lien of this Mortgage, tender's interest in the Property and Borrower's obligation to pay the sums secured by this
Mortgage shall Continue unuttpwW. Upon such payment and cure by Borrower, this Mortgage and the obligations secured hereby
shall remain in full farce and effect as if no acceleration had occurred.
It-Aoignmeng of Rents; Appointment of Ron:eiver; Lender in Pomession. As additional security hereunder, Borrower
hereby assigns to Leader the rents of the Property, provided that Borrower shall. prior to avctleration tinder paragraph 17 hereof or
abandonment of the Proopeny, have the nght to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 17 hereof or aWndomuem of the Property, and ac any time prior to the expiration of any
period of redemption following judicial We, lender, in person, by agent or by judicially appointed receiver, shaA be endued to
enter upon, take possession of and manage the Property and to collect the rents of the Property uicludiing those past due. AN rents
coUected by Lender or the receiver shall be applied fun; to payment of the casts of Management of the Property and colicA-gon of
rents, including. but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the
sums socu rd by this Meagagc_ Lends nod dw rmcivcr shaA be liable to account only for Ubose rents actually 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 casts of recordation, if arty.
21. Waiver of Homesmd. Borrower hereby waives all right of homestead exemprion in the Property.
REQt1F_ST FOR NOTICE OF DEFAULT
AND FORECLOSURE tMI&R SUPERIOR
MORTGAGES OR DEERS OF TRUST
Bomower and Lender request the holder of any martgage, deed of crust or other encumbrance witha lien which has priority
over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any default under the
superior cneumbranaa and of any We or ocher foreclosure action.
IN WrIM5S WUM017, Borrower has ext cured this Mormaea.
IA
STATE OF WYOMING,
Lincoln county ss:
The fortgomg instrument was acknowledged before me this , 24th day of May, 2001
by John Conard and Arlette Conard
My Commission l;xpwcs: March 25, 200
" ANNA N. NEWMAN
I i►v;. ,'~q; MIN
My Commission Expire - 2 5 0 2
Noisy Public
J.ai Line KIM you Par i4naer ang hemmer)