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WHEN RECORDED MAIL TO:
COUNTRYWIDE HOME LOANS INC.
MSNSV-79/DOOUiVENTCONTROLDEmT.
P.O BOX 10266
VAN NUYS. CALIFORNIA 91410-0266
DOC D#:0002322577559312
ESCROW/CLOSING #: 04017607
SPACEABOVEFORRECORDERS USE
PARCE_ ID #- 37182830400700
Prepared Dy: R. STEVENSON
MORTGAGE
THIS MORTGAGE, dated A p r i 1 16
WILLIAM A ESPERSON, A SINGLE MAN
(Line of Creditl
,2003 , is between
residing at
426 MEADOWS DRIVE, ALPINE, WY 83128-
[he person or persons signing as "Mortgagor(s)" below and hereinafter referred [o as "we or "us" and
COUNTRYWIDE HOME LOANS, INC.
with an address at
4500 Park Granada, Calabasas, CA 91302-1613
and hereinafter referred to as "you" or the "Mortgagee.'
MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby mortgage grant and convey to you
the premises located at: '
426 MEADOWS DRIVE
Street
ALPINE LINCOLN
Municipality County
and further described as:
LOT 16, THREE RIVERS MEADOWS ESTATES SUBDIVISION
PLAT OF RECORD IN THE OFFICE OF THE LINCOLN
COUNTY, WYOMING.
WY 83128 - tthe "Premises
State ZIP
"A" ACCORDING TO THAT
COUNTY CLERK, LINCO_N
The Premises includes 'all buildings and other improvements now or iu the l"uture on the Premises and all rights anti Interests which
derive from our ownership, use or possession of the Premises and all appurtenances thereto.
LOAN: The Mortgage will secure your loan in the principal amount of $17,300.00
advanced and readvanced from time to time to W I k L I A M A E S P £ R S 0 N
or so much thereof as may be
, and
, tile Borrower(s) tinder the Ho~ne Equity Credit Line Agreement
and Disclosure Statement (the "Note") dated 04/16/2003 , plus interest and costs, late charges and all other
charges related to the loan, all of which sums are repayable according to the Nole. This iMortgage will also secm-e the performance
of 'all of the promises and agreements made by us and each Borrowe~I and Co-Signer in tile Note, all of our promises and
agreements in this Mortgage, any extelsions, renewals, an~endments, supplements and other modifications of the Note, and any
amounts advanced by you under the terms of the section of this Mortgage entitled "O~ Authority To You." Loans under the Note
may be made, repaid and remade fi'om time to time in accordance wid] the terms of the Note and sub ect to the Credit Limit set
forth in the Note.
OWNERSHIP: We are the sole owner(s) of the Premises. We have tile legal right to mortgage the Premises to you:
BORROWER'S IMPORTANT OBLIGATIONS:
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DOC ID ~/ 0002322577559312
(a) TAXES: We will pay 'all real estate taxes, assessments, water cbm:ges and sewer rents relating to the Premises when the),
become due. We will not claim any credit .on, or make deduction from, the loan under the Note because we pa), 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 ltl'st getting your
consent. We will not use tile Premises illegally. Il: this Mortgage is {Jn it unit ill a condommiu|n or a planned unit develop nent, we
shall perform ail of ou,' obligations under the declaration or covenanLs creatin~z or goveruing tile condominium or planlzed unit
development, the by-laws and regulations of tile condo~ninium 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 ),our reasonable approval. The
policies must be for at least the amounts and the time periods that you specify. We will deliver to you npon '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 an}, cancellation or reduction in coverage, for an}, reason.
Upon request, we shall deliver the potties, certificates or other evidence of insurance to you. In the event of loss or danmge to the
Premises, we will immediately notify you in writing auld file a proof of loss with the insurer. You may file a proof of loss on our
bebalf ff we fail or refuse to do so. You may 'also sign our name to any check, draft or other order for the paym'ent of insm'ance
proceeds in the event of loss or damage to the Premises. if you receive paymeut 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.
(d) CONDEMNATION: We assign to you the proceeds of an}, award or claim for dmnages, dh'ecl or consequential in
connection with any condemnation or other taking of the Premises, or part thereof, or fbr conveyance in lieu of condenmation 'all
of which shall be paid to' you, subject to the terms 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.
(f) OUR AUTHORITY TO YOU: If we fail to perform ()ur obligations under this Mortgage, you may, ii" yott choose,
perform our obligations and pay :~uch costs and expenses. You will add the amounts you advance to tile sutns owing on the Note,
on which you will charge interest at. tile interest rate set forth in the Note. l f, for exa nple, we Ifil to honor ()ur promises to maintain
insurance in effect, or to pay filing fees, taxes or the costs necessary to keel:) the Premises in good condition and repair or to
perform any of our other agreements with you, you may if you choose, advance any sums to satisfy an), of our agreements with
you and charge us interest on such advances at tile interest rate set forth in the Note. This Mortgage secures all such advm~ces. 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 mid subordinate to a
prior mortgage dated 10 /09 / 2002 and given by us to
COUNTRYWIDE HOME LOANS, INC.
as ~nortgagee, m the original amount ors 70,000.00 (the "Prior Mortgage"). XVe shall not increase, mnend or
modify the Prior Mortgage without you|- prior written consent and shall upon receipt of any written notice fi-om the holder ol: the
Prior Mortgage promptly deliver a copy of such notice to you. We shall pay and perform zdl 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 release of any
Hazardous Substances on or in the Premises. We shall not do, nor allow anyone else to do, anything affectiug 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: gasoline, kerosene, other flarninable or toxic petroleum
products, toxic pesticides and herbicides, volatile solvents, materials conutining 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 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 hen or claim against thepremises without >,our 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 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 il: required by
apphcable law, if any event or condition described in Paragraph 12.A. of the Note occurs, you may lbreclose upon this Mortgage.
This means that you may arrange for tile Premises to be sold by advertisement and s~fle or by _judicial l'breclosure, 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
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DOC ID ~t/ 0002322577559312
is not enough to pay off wha[ we owe you, we will still owe you file difference which you may seek to collect fi'om 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, direcdy from tenants after simply notifying them [fi-st
class mail to make rental payments to you; (iii) ,nanage tile Premises; and (iv) sign, cancel and change leases. We agree that the
interest rate set forth in the Note will condnue before and after a default, entry et 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 and tide reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you tl{e rents of the Premises.
You or a receiver appointed by the courts shall be entitled to enter upon, take possession of and manage dm Premises and collect
the rents of the Premises including those past due after simply notifying them by first class mail to ~nake reutal payments to you,
WAIVERS: To the extent permitted by applicable law, we waive auld release an5, error or defects in proceedings to entbrce this
Mortgage and hereby waive the benefii of any present or future laws providing/'or stay of execution, extension of time, exemption
from attachment, levy and sade and homestead exemption.
BINDiNG EFFECT: Each of us shall be fut]y responsible for all of the promises and agree~nents m this Mortgage. Until tile Note
has been paid in full and your obligation to m',zke 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 m 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 Mormage 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 nodce by regular first class mail addressed to us at tim last address
appearing in ),our records or at such other address as we may designate by notice to you as provided hereto, and (b) any notice to
you shall be given by certified mail, return receipt requested, to yonr address at
COUNTRYWIDE HOME LOANS, INC.
4500 Park Granada, Calabasas, CA. 91302-1613
or to such other address as you may designate by notice to us. Any notice provided lbr in this Mortgage shall be dee~ned to have
been given to us or you when given in tile manner designated herein.
RELEASE: Upon payment of all sums secured by this Mortgage and provided ),our 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 an5, other provision on any other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above written.
WITNESS:
Mortgagor:WILLIAM A ESPERSON
(SEAL)
Mortgagor:
(SEAL)
~ County of ~ _ State of
~ Lincoln ~ W~yoming _
My Commission EX-~ res
STATE OF WYOMING,
Mortgagor:
Mortgagor:
The foregoing insn:ument was acknowledged before me this
by O0 t. E-t.- t tq-m,q /at'-. ~-'=5 ~-q2._ :~ ~/x3
C()LJnty SS:
(date)
(SEAL)
(SEAL)
My Commission Expires:
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2C6203WY (03/01)
(person acknowledging)
Notary Public
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