HomeMy WebLinkAbout89547704018367
89,5 77
RECEIVED
LINcoLN CO-UNTY CLERK
· ~ .,;./¥~
AfterRecording Retum To:
COUNTRYWIDE HOME LOANS,'INC.
MS SV-79 DOCUMENT PROCESSING
P.O.Box 10423
Van Nuys, CA 91410-0423
Prepped By:
SHEILA POUNDS
Uoo PAGe, 6 2
[SPace Above This Line For Recording Data]
04018367
[Escrow/Closing ~]
MORTGAGE
(Line of Credit)
TffIS MORTGAGE, dated NOVEMBER ]_7, 2003 , is between
CYNTHIA L BOWERS, A SINGLE WOMAN
0003758568511003
[Doc ID ~]
residing at
504 SNAKE RIVER DRIVE #A-l, ALPINE, WY 83128
the person or persons signing as "Mortgagor(s)" below and hereinafter referred to a.s "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."
WY
, State
MORTGAGED PREMISES: In consideration of the loan hereinafter de. scribed, we hereby mortgage, grant
and convey to you the premises located at:
504 SNAKE RIVER DRIVE #A-1
SU'eet
ALP INE LINCOLN
Municipality County
83128
zn' (the "Premises").
and ~rther described as:
LOT A-1 OF RIVERVIEW TOWNHOMES WEST ADDITION TO THE TOWN OF ALPINE, LINCOLN
COUNTY, WYOMING, ACCORDING TO THAT PLAT FILED NOVEMBER 27, 2001 IN THE
OFFICE OF THE LINCOLN COUNTY CLERK AS PLAT NO. 188-B
This Real Estate Mortgage is second and subject only to a First Real Estate
Mortgage recOrding concurrently herewith in favor of Countrywide Home Loans,
Inc. and dated November 17th, 2003 in the original amount of $118,000.00.
· HELOC - WY Mortgage
20620-WY (02/03)(d)
Page 1 of 4 Inltials:_.C~~
*23991'
* 037585685000002C620'
DOC ID #: 0003758568511003
The Premises includes all buildings and other improvements now or in the future on the Premises and ali rights
and 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 $ 19, 700.00
thereof as may be advanced and readvanced from time to time to
CYNTHIA L. BOWERS
or so much
, and
the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated
NOVEMBER l 7, 2003 , 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 performance of all of
the promises and agreements made by us and each Borrower and Co-Signer in the Note, all of our promises and
agreements in this Mortgage, any extensions, renewals, amendments, supplements and other modifications of the
Note, and any amounts advanced by you under the terms 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 terms
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.
BORROWER'S 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 building(s) except for normal 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 perform all of our 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.
(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
your reasonable 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 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 any cancellation or reduction in coverage, for any rea~son. Upon request, we
shall deliver the policies, certificates or other evidence of insurance to you. In 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 file 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.
(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) 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 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 costs
necessary to keep 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 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. ~
· HELOC - WY Modgago. Page 2 of 4
2C620-WY (02/03)
Initials: ~..~-~
DOC ID #: 0003758568511003
(g) PRIOR MORTGAGE: If the provisions of this paragraph are completed, this Mortgage is subject and
subordinate to a prior mortgage dated 06 / 07 / 2002 and given by us to
COUNTRYWIDE HOME ,LOANS, INC.
as mortgagee, in the original amount of $ 118, 4 0 0.0 0 (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 SU-BSTANCES: 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
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: gasoline, kerosene, other flammable or toxic petroleum
products? toxic pesticides and herbicides, volatile solvents, materials containing a.sbe, stos 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
intere.st 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 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 if
required by applicable law, if any event or condition described in Paragraph 12.A. of 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 pay off what we owe on the Note and
under this Mortgage. If the money you receive from the sale is not enough to paY off what we owe you, we will
still owe you the difference which you may seek to collect from 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, directly from tenants after simply notifying them First class mall to
make rental payments to you; (iii) manage the Premises; and (iv) sign, cancel and change lease_.s. 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
and title reports.
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.
WAIVERS: To the extent permitted 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.
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 representative, s, 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 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 terminated, this Mortgage and your rights in the Premises
shall end.
· HELOC - WY Modgage
2C620-WY (02/03) Page 3 of 4
Initials:
DOC ID #: 0003758568511003
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 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
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 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 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 any other provision on any other.
occasion.
THIS MORTGAGE has been signed by each of us under seal.on the date first above written.
WITNE S S:
CYNTHIA L. BOWERS
Mortgagor:
(sEAL)
Mortgagor:
(SEAL)
Mortgagor:
(SEAL)
Mortgagor:.
(SEAL)
STATE OF WYOMING, ~,xa
The foregoing instrument was acknOwledged before me this
(person acknowledging)
My Commission Expires: t~)/~"/'7~O~
County ss:
1/"'
(date)
Notary Public
· HELOC - WY Mortgage
2C620-WY (02/03) ~ Page 4 of 4
[Space Above This Line For Recording Data]
PLANNED UNIT DEVELOPMENT RIDER
AfterRecordingRetum To:
COUNTRYWIDE HOME LOANS, INC.
MS SV-79 DOCUMENT PROCESSING
P.O.Box 104.23
Van Nuys, CA 91410-0423
Prepped By:
SHEILA POUNDS
04018367
[Escrow/Closing #]
0003758568511003
[Doc ID #]
THIS PLANNED UNIT DEVELOPMENT RIDER is made this SEVENTEENTH day of
NOVEMBER, 2003 , and is incorporated into and shall be deemed to amend and supplement the
Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date, given by the
undersigned (the "Borrower") to secure Borrower's Note to
COUNTRYWIDE HOME LOANS, INC.
(the"~nder")~fthesamedateandc~veringthePr~pertyd~cribedintheSeeurityIns~mentandl~catedat:
504 SNAKE RIVER DRIVE #A-1
ALPINE, WY 83128
[Properly Add.si
MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Page 1 of 3
(~7R (0008).01 CHL (09/01)(d) VMP MORTGAGE FORMS - (800)521-7291
CONV/VA
Initials: ~"~
Form 3150 1/01
*23991*
* 037585685000002007R*
267
DOC ID #: 0003758568511003
The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such
parcels and certain common areas and facilities, as described in
(the "Declaration"). The Property is a part of a planned unit development known as
RIVERVIEW TOWNHOMES WEST
[Name of Planned Unit Development]
(the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity
owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses,
benefits and proceeds of Borrower's interest.
PUD COVENANTS. In addition to the covenants and agreements made in the Security InstrUment.
Borrower and Lender further covenant and agree as follows:
A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent
Documents. The "Constituent Documents" are the (i) Declaration; (ii) articles of incorporation, trust instrument
Or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or
regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments
imposed pursuant to the Constituent Documents.
B. Property Insurance. So long as the Ownem Association maintains, with a generally accepted insurance
carrier, a "master" or,"blanket" policy insuring the Property which is satisfactory to Lender and which provides
insurance coverage in the mounts (including deductible levels), for the periods, and against loss by fire.
hazards included within the term "extended coverage," and any other hazards, including, but not limited to,
earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives the provision in Section 3
for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property;
and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is
deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided
by the master or blanket policy.
In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss
to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby
assigned and shall be paid to Lender, Lender shall apply the proceeds to the sums secured by the Security
Instrument, whether or not then due, with the excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the
Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of
coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to
Borrower in connection with any condemnation or other taking of all or any part of the Property or the common
areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be
paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as
provided in Section 11.
E. Lender's Prior consent. Borrower shall not, except after notice to Lender and with Lender's prior
written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of
the PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or
other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any
provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) termination
Initials: ~
(~)®-7R (0008).01 CHL (09/01) Page 2 of 3 Form 3150 1/01
DOC ID #: 0003758568511003
of professional management and assumption of self-management of the Owners Association; or (iv) any action
which would have the effect of rendering the public liability insurance coverage maintained by the Owners
Association unacceptable to Lender.
F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them.
Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by
the Security Instn~ment. Unless Borrower and Lender agree to other terms of payment, the,se amounts shall bear
interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from
Lender to Borrower requesting payment.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider.
CYNTHIA L. BOWERS -Borrower
(Seal)
Borrower
(Seal)
- Borrower
(Seal)
- Borrower
(~®-7R (0008).01 CHL (09/01)
Page 3 of 3 Form 3150 1101