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Home My WebLink About90198190t981 RECEIVED _INOOLN COUNTY OLERK EAI19040M 0006~8~369]0~00% MORTGAGE (Linc of Tills MORTOAOE. daI~ ~UGUS~ 9, 2004 . is ~lwee. STBVEN LYNN CORSI AND ~RLA OEANN COR5I, ~.~idin{} tI thc ~rn(m m- ~r~m~ nigainI i~ 'MonSagm(.)' ~low ~tl MORTGAGE fiL~I'IIONIC ~OIS'I'~'I'ION SYSTEMS, INO,. ("MERS") a Dohwam ~dms~ of P.O. Bo~ 2~ FGm. ~ 48501-2026. id. (888) 6/9-MERS COUNTRYWIDE HOME LO,NS. INC. (' L~der' o~ 'you') and i~ a~c~o~ and MORTOA~ P~18~: I. ~ts~&~,,, of l~ Io~ h~innficr dcscri~a, w~ hereby mortgage, lmm and co,ivey to MBRS (solely ~m nmnin~ Cot ~n~r and ~'a and ~s~lJ)s of ~R8, th~ p~J~c.s I~nlcd 2EO37-WY lO~04)id) * 2 3 9 g 1 * Illlll ~ 0e4 al~3a g 1 o0o002E0&7, and further described as: SEE EXHIBIT "A" ATTACHED DOC ID #: HERETO AND MADE A PART HEREOF. 0006z18536910~004 The Premises includes all buildings and other improvements now or in the future on the Premises and all rights and interests which derive from our ownership, use or possession o1' the Premises and all appurtenances thereto. WE UNDERSTAND and agree that MERS is a separate corporation acting solely as nominee for Lender and Lender's successors and assigns, and holds only legal title to tile interests granted by us in this Morlgage, but, if necessary to comply with law or custom, MERS (as nominee for Leuder and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose anti sell the Property, and to take any action required of Lender including, but not limited to, releasing or canceling Mortgage. LOAN: This Mortgage will secure your loan to us in the principal amount of $ 20,000.00 much thereof as may be advanced and readvanced from time to tm~e to STEVEN LYNN CORSI MARLA DEANN CORSI or so · and the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the "Note") dated AUGUST 9, 2004 , 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 perfonnm~ce 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 yon under the terms of the section of this Mortgage eutitled "Our Authority To You." Loans under the Note may be made, repaid and remade fi'om 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 tile 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 tile 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 tile 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 tile declaration or covenants creating or governing the condominium or phmned unit development, the by-laws trod regulations of the condominium or planned unit development and constiment 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 al least the amounls aud the time periods that you specify. We will deliver to you upon your request the policies or other proof of tile insurance. The policies must name you as "mortgagee" and "loss-payee" so that you will receive payment Oll 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 reason. Upou request, we shall deliver the policies, certificates or other evidence of insurm~ce to you. In the event of loss or damage to the Premises, we will i~nmediately notify you in writing and file a proof of k)ss with the ln~urer. 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, dr'fit 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 tile amount owing on the Note. · MERS HELl:iX] - WY Mortgage 2EO37-WY (02/04) Page 2 of 5 DOC ID #: 0006485369108004 (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 takiug of the Premises, or part thereof, or for 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. It is agreed that the Lender shall be subrogated to the clai,ns and liens of all parties whose claims or liens are discharged or paid with the proceeds of the Agreement secured hereby. (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 tl~e sums owing on the Note, on which you will charge interest at the interest ~ate 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 snms to Satisfy any of our agreements with you and charge us interest ou such advances at the interest rote 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 mnount 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 and given by ns to as mortgagee, in the original amount of $ 0.00 (the "Prior Mortgage"). We shall not increase, amend or modify the Prior Mortgage without your prior written consent and shall upon receipt of auy 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. th) 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 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 Itazardous 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 asbestos or fom~aldehyde, 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 o,' environmental protection. ti) SAI.R OF PREMISES: We will not sell, transfer ownership of, mortgage or otherwise disl~ose of onr 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 a! 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 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 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, ti) 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 mail to make rental payments to you; (iii) manage the Premises; and (iv) sign, cancel and change leases. 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 Modgage ,.~(-~- 2EOa7-wY (02/04) Page3 ors Initials: DOC ID #: 0006485369108004 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 p,'omises 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 assign it. Upon payment in full of all mounts 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. NOTICE: Except for any notice required under applicable law to be given ill 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 For MERS: P.O. Box 2026, Flint, Mi 48501-2026 For Lender: 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 desigmtted 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 l'irst above written. WITNESS: STEVEN ors I t Mortgagor: MARLA DEANN CORSI (SEAL) (SEAL) Mortgagor: Mortgagor: (SEAL) Mortgagor: (SEAL) · MERS HELOC - WY Mortgage 2EO37-WY (02~04) Page 4 of 5 DOC ZD #: 0006485369108004 STATE OF~K~, California R±versid~ounty ss: My Commission Expires: (person acknowledging) Notary Publi6 Commission # 1376278 otary Public-California Rlvorsido Counly · MERS HELOC - WY Mortgage 2EO37-WY (02/04) Page 5 of 5 7:- Prepared by: MICHELLE SALAS COUNTRYWIDE HOME LOANS, INC. DATE: 08/09/2004 CASE#: DOCID#: 0006485369108004 BORROWER: STEVEN LYNN CORSI Branch ~: 0000567 3806 DELL RANGE BLVD. UNIT B-9 CHEYENNE, WY 82009 Phone: (307)632-0194 Br Fax No.: (307)632-1874 PROPERTY ADDRESS: 274 MEADOW LANE COUNTY RD 403 GROVER, WY 83122 LEGAL DESCRIPTION EXHIBIT A Part of Section 1, T32N RllgW of the 6th P.M. being more particularly described as follows: , Lincoln Coun[y, Wyoming BEGINNING at the Southeast Corner of the SW~SE~ of said Section 1 and running thence West 20 rods; thence North 14 rods; thence East 20 rods; thence South 14 rods to the POINT OF BEGINNING. FHANA/CONV Legal Description Exhibit A 2C404-XX (04/03)(d) '23991 ' * 064853691000002E037' 0898 [Space Above This Line For Recording Data] SECOND HOME RIDER AflerR~ordingRetumTo: COUNTRYWIDE HOME LOANS, INC. MS SV-79 DOCUMENT PROCESSING P.O.Box 10423 Van Nuys, CA 91410-0423 PmparedBy: MICHELLE SALAS FAll9040M [Escrow/Closing #] 0006485369] 08004 [DOC ID #] THIS SECOND HOME RDER is made this NINTH day of AUGUST, 2004 , 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" whether there are one or more persons nndersigned) to secure Borrower's Note to COUNTRYWIDE HOME LOANS, INC. (the "Lender") of the same date and covering the Property described in the Security Instrument (the "Property"). which is located at: 274 MEADOW LANE COUNTY RD 403 GROVER, WY 83122 IPropeny Address] MULTISTATE SECOND HOME RIDER - Single Family - Freddie Mac UNIFORM INSTRUMENT Page 1 of 2 (~®-365R (0011) CHL (11/00)(d) VMP MORTGAGE FORMS- (800)521 CONV/VA Form 3890 1/01 *23991 ' 064 853691 000002365R' DOC ID #: 0006485369108004 In addition to the covenants and agreements made in the Secu,'ity Instrument, Borrower ,'tnd Lender further covenant and agree that Sections 6 and 8 of the Security Instalment are deleted and are replaced by the following: 6. Occupancy. Borrower shall occupy, and shall only use, the Property as Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment al all times, and shall not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent lhe Property or give a management firm or any other person any control over the occupancy or use of lhe Property. 8. Borrower's Loan Application. Borrower shall be in default if, duriug the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's second home. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Second Home Rider. STEVEN LYNN CORSI (Seal) orrower (Seal) MARLA DEANN CORSI - Borrower (Seal) Borrower (Seal) - Bom)wer (~®-365R (0011) CHL (11/00) Page 2 of 2 Form 3890 1/01