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Home My WebLink About905002After Recording Remm To: COI]lq2~YWTD~. t:IOME -LOANS, P.0.B~ 1D~23 V~ ~uys, ~ 91A10-0~23 ~epmed By: ~ M. RECEIVED 12/3/2004 at 1-26 PM RECEIVING ct 905002 .BOOK: 574 PAGE: 27 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording I)a ia J 0008~2~ 03351100~ [Doc am ~] MIN 1000157-0004458616-8 MORTGAGE (Line of Credit) THIS MORTGAGE, dated /qOVE/~F.R 22, 2004 , is belwccn WTTJ,T~NI R ~L0ZI-~R, ~ ~Z~IDI~A. LOZT~R residing at 405 33ATE .q2'RF_t"$, ~, WY 83101-3007 , the parson or persons £igning as "Mortgagor(s)" below and herein;mcr referred to as "we," "our," or "us" and MORTGAGE E! ~CTRONIC REGISTRATION SYSTEMS, INC_ ~"MERS") a Delaware corporation, with an address of P.O. Box 2Q26, Flim, MI 4850]-2Q26, tel. (888) 679~M1-.1<~. MERS is the "Mortgagee" under this Mortgage and is acting solely as nominee for COI]ATTRYWTD~ HOME LQANS, ~_,NC. ("Lender" or "you") and its successors and assigns. MORTGAGED PREMIRES: In consideration oflhe loan hercinat~er described, we hereby mortgage, grant and convey Io MERS (solely as nominee for Lender and Lender's .successors and assigns) and lo the successors and assiLgn~ of MERS, the premi.qes located at: 405 AC~ATE STREEI ~ LINCC3T,N Municipality County WY 83-103.-3007 state zn' (the "Premises"). · MERS HELOC - VVY Mortgage .2Eo37-wY (a2/O4)(d) ' 2399 1 Page 1 Df 5 ' 0 ~- 24 0335000002~:D37 DOC ID ~: 0008424033511004 and ~r ~s~Hb~d ~: Lot ~ of ~loek 30 of ~e ~irst ~~ to the Town of Ke~erer, Cowry, Wyo~g as des~d on the official pla~ thereof. The Premises includes all buildings and other .improvements now or m tile future on the Premises and all rights and interests which derive from our ownership, use or possession of thc I'remises and all appurmnances Ihereto. WE UNDERSTAND and agree that MERS is a separate corpol'~ll h)ll acting solely as nominee for Lender and Lender's successors and assign% and holds only legal title to the intcrcsl~ granted by us in this Mortgage, but, ff necessary Io comply with law or custom, MERS (as nominee for Lcmlcr and Lender's successors and assigns) has the right: Io exercise any or all of those interests, including, but not limited to, the right Io foreclose and sell the Property, and to lake any action required of Lender including, but nol limited to, releasing or canceling this Mortgage. LOAN: This Mortgage will secure your loan xo us in the princ~lm much thereof as may be advanced and readvanced fi.om time to time WTT J,T~%4 R. SANDRA LOZT~R amount of $ lO, 900. O0 or so the Borrower(s) ,rider the Home Equity Credit Line Agreement und Disclosure Statement (the "Note") dated NOVE, M~.R 22, .2 004 , plus interest and costs, late cn:,'~-~ and all othercharges related Io the loan, all of which snm.q are repayable according to the Note. This Mortga? will also secure the performance of all of the prnmi.qes and agreements made by us and each Borrower and Ct}-%i~ner in the Note, all of our promises and agreements in this Mortgage, any exlemsions, renewals, amendments. ~upplen~ents and other modi£mations oflhe Note, and any mounts advanced by you under the terms of the secti,n of this Mortgage entitled "Our Authority To You." Loans under the Note may be made, repaid and remade fi'Oln 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 t}lc lc~al right to mortgage the Premises Io you. OUR IMPORTANT OBLIGATIONS: (a) TAXES: We will pay all real estate taxes, assessments, xx mcr charges and sewer rents relating to the Premi,es when they become d,c. We will not claim any credit on. ~r make deduction fi.om, the loan under the Note because we pay these taxes and charges. We will provide you xx tlr proof of payment upon request. (b) MAINTENANCE: We will maintain the building(s) on thc Premises in good condition. We will not make major changes in the building(s) except for normal repairs. Wc xx ill not tear down any of the building(s) on the Premises without first getting your consent. We will not use thc Premises illegally. If this Mortgage is an a trait in a condominium or a planned unit developmem, we shal~ perlbrm all of our obhgations under the declaration or covenants creating or governing the condominium t~r planned unit development, the by-laws and regulations of the condominh~tm or planned unit development and ctm~t it,cut documents. (c) INSURANCE: We will keep the budding(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 oar choice is subject to your reasonable approval. The policies must be for at least the amounl~ and the time periods that you specify. We will deliver to you upon your request the policies or other proof of mc insurance. The policies must name you as "mortgagee" and "luss-payee" so Ihat you will receive payment on all insurance claims, to the extent of your interest under lifts Mortgage, before we do. The insurance policies musl also provide Ihat you be given not less than 10 days prior wrinen notice of any cancellation or reduction m coverage, for any reason. Upon request, we *hall deliver the policies, certificates or other evidence of insurance m you. In the event of loss or damage to the Premises, we will immediately notify you in writing and file a prool oI 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 si,,., ur name to any check, draft or other order for the payment of insurance proceeds in the event of loss or dama-c ~,~ ~l~c Premises. If you receive payment of a claim, you will have the right to choose to use the money either tt, ~cpair the Premises or to red,ce the amount owing on the Note. · , MERS HF~ r~C- WY Mortgage 2EO37-WY (a2m4) Page2 Df 5 Initials: L .~-~-~ . O0 DOC ID ~: 0008~24033511004 (d) CONDEMNATION: We assign to you the proceeds of an~ award or claim for damages, direct or consequential, in connection with any condemnation or other iaking cf the Premises, or part thereof, or for conveyance in lieu of condemnation, all of which shall be paid to you, ~tsh cot lO the terms of any Prior Mortgage. (e) SECURITY INTEREST: We will join with yon in signing and filing documents and, at our expense, in doing whatever yon believe is necessary to perfect and continue the per Ibc t ion of your lien and security interest in Ihe Premises. It is agreed that the Lender shall be sabrogated to the c lz, im ~ and liens of all parties whose claims or liens are discharged or paid with the proceeds of the Agreement secured hcreb;. (f) OUR AUTHORITY TO YOU: If we fail to perform our obligalicns under this Mortgage, you may, if yon choose, perform our obligations and pay such costs and expenses. You will add the mounts yon advance to the sum~ owing on the Note, on which yon will charge interest at the interest ,'ate set forth in the Note. If, for example, we fail to honor our promi.qes to maintain insurance in effect, or to pa.~ 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 yon, you may, if yon choose, advance any snma lo satisfy any of our agreements with .~ tm and charge ns 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 Ihis Mortgage. An.~ replacement insurance that yon obtain to cover loss or damages to the Premises may be limited to the amount tm lng on the Note plus the mount of any Prior Mortgages. (g) PRIOR MORTGAGE: If the provisions oflhis paragraph arc completed, this Mortgage is subject and subordinate to a prior mortgage dated 07/02/2003 and given by us to C0~~. HOME LOANS, 2[NC. as mortgagee, in the original amount of $ 4 6,300.00 (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 fi.om the holder of the Prior Mortgage promptly deliver ;, copy of such notice to you. We shall pay and perform all of our obligations antler the Prior Mortgage as and when required under the Prior Mortgage. (h) HAZARDOUS SUBSTANCES: We shall not cause or permi~ the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Premises. We shall not du. nor allow anyone else to do, anything affecting the Premises that is in violation of any Environmental Law. q hc preceding two sentences shall not apply to Ihe presence, use, or storage on the Premises of amall quantities of 1 lazardous Substances that are generally recogni?ed to be appropriate to normal residential uses and to maintctmnce of the Premises. As used in this paragraph, "I-Ia?ardous Substances" are those substances defined as toxic or ha?ardous 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 formaldehyde, and radioactive mamrials. As used in this paragraph, '[Environmental k:m" means federal laws and laws of the jurisdiction where the Premises are located that relate to health, safety o,' cnviromnental protection. (i) SAI.F. OF pREMISES: We will not sell, transfer ownership cf, mortgage or otherwise dispose of our 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 at a ~.x reasonable time. NO LOSS OF RIGHTS: The Note and lifts Mortgage may be negotiated er assigned by you without releasing ns or the Premkes. yon may add or release any person or property obligated trader the Note and this Mortgage without losing your rights in the Premkes. DEFAULT: Except as may be prohibited by applicable law, and subject It, 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 thi, Mortgage. This means that you may arrange for the Premises h~ be sol cl by advertisement and sale or by judicial foreclosure, at your option, as provided by law, in order to pay tiff what we owe on the Note and under this Mortgage. If the money you receive fi.om the sale is not enough to pay off x~ hat we owe you, we will still owe you the 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 thc l'rcmises; (ii) collect the rental payments, including over-due rental payments, directly fxom tenants after simpl; notil3'ing them first class mail to make rental payments to you; (iii) manage the Premises; and (iv) sign, cancct and change leases. We agree that the interest rate set forth in the Note will cnntinue before and after a default, cnn'3 of a judgment and foreclosure. In addition, you shall be entitled to collect all reasonable fees and costs z~ctually incurred by you in proceeding m foreclosure, including, but not limited to, reasonable attorneys fees and costs of documentary evidence, abslxacts ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As add it itmal security, we assign to yon the rents of the Premises. You or a receiver appointed by the courts shall be entitlc~d to enter upon, take possession of and manage the Premises and collect the rents of the Premiaes including tho~c past due after simply notifying Ihem by first class mail to make rental payments to you. · MERS HE[OC - WY Mortgage 2ED37-WY (D2/~4) Page 3 of 5 Initials: DOC ID ~: 000842403351~1004 IVA_IVERS: To the extea]! p~d by applicable law, we waive and rclcas~ an), error or defects in proceed|n~s to ~nforce Ihis ]Vlorlgage and hexeby waive Ih~ ben,fit of any presen! or fu[ure laws providin~ for slay of execution, extension of time, exemption 15-om attachment, leW and sale and homestead ex emption. BINDING EFFECT: Each of ns shall be fully responsible for all of tile pronuses and agreements in Ihis Mortgage. Until the Note has been paid in full and your obligation to make further advances under Ihe Note has been terminated, the provisions ofthi~ Mortgage will be binding on ns, our lc-al representatives, our heirs and all future owners of the Premises. This Mortgage is for your benefit and for thc benefit of anyone lo whom you may assign it. Upon payment in full of all mounts owing xo yon under the Note and this Mortgage, and provided any obligation to make further advances under the Note has Ierminated. th i s Mortgage and your rights in Ihe Premises ~hall end NOTICE: Except for any notice required under applicable law to be g~x cn in another manner, (a) any notice IO us provided for in thi~ Mortgage shall be given by delivering it or by mailing such notice by regular first class mail addressed 1~0 ns at the last address appearing in your records or at ~ucll 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, remm receipt requested, to your address at For MERS: P.O. Box 2026, Flint, MI 48501-2026 For Lender: 4500 Park C~ran~da, Caliltbasis, CA 91302-1613 or to such other address as you may designate by notice to ns. An\ nt)tice provided for in thN Mortgage ~hall be deemed to have been given to us or you when given in the manner designated herein. REI,EA~qE: Upon payment of all snm~ secured by lifts Mortgage an~ provided your obligation to make further advances under the Note has Ierminated, you shall discharge this Mortgage without charge to us, except Ihat we shall pay any fees for recording of a-satisfaction of this Mortgage. GENERAL: You can waive or delay enforcing any of your rights unJcr this Mortgage wilhout losing them. Any waiver by you of any provisions of this Mortgage will not be a waiver of tha! or any other provision on any other occasion. THIS MORTGAGE has been signed by each offs -rider seal on the date first above written. WITNESS: W-l-ril',T/Mq R. 'I',OZiE[5_ Mortgagor: S.~'XlDRA LOZIER Mortgagor: (SEm~) (SEAL) IVlOl'tg~or 2 (SEAL) IVlol-tgl~orr (SEa_L) · MERS H~:l nC- ~ Mortgage .2F_D37-VVY (~?./D4) Page 4 of 5 STATE OF WYOMING, ~l.t~nco]_n The foregoing instrument was acknowledged before me thi~ 22nd by Wt]]Jam R. Lozter and Sandra Lozter My Cnmmissian Expires: F~brnary 8~l._/rY~- NOT/hqYPUBL~ ] (person aclmowledging) 2, 2006 DOC ID #: OOOB42403351ZOO4 County ss: day of November, 2004 (mae) ...... ,,_., .(.k,..,_ ~, MERS HELOC - WY Mortgage 2En37-WY (a2/lM) Page 5 of 5