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Home My WebLink About905203z v/5q / Requested by and Return m: Re. cmding Department First American Lende~ Advantage 1801 Lakepointe Drive, Suite 111 Lewisville, TX 75057 (469) 3224500 RECFIVF_D 12; 13/2004 at 1:49 PM RECEIVING ,~ 905203 BOOK: 574 PAGE: 600 JEAI'..Jl JE WAGNER LINCOLN COUNTY CLERK KEMMERER WY [~paee Above Thi~ Line lear llec. r d in g Data] 8616584< 0008616584411004 [Escrow/Closir:_ :, [Doc ID 4] MORTGAGE .(l.ine. of Cre~t) .5IIN 1000157-0004486260-1 TI:[IR MORTGAGe, dated NOVEi~aZR 23, _2004 SEYED /{ YADEGARI, A SINC.~ ~ , is bcl u xe~idinE at PO ~OX 3956, ~ACKSON, WY 83001 ~ ~ ~ p~ ~ing ~ "M~(S)" bdow ~ hercina[Icr refe~ed to ~ "we," "o~," ~ "us" and MO~~ ~O~C ~~~ON SYSCO, IN( '.. ~"MERS") a Ddaw~e c~~, ~ ~ ~ss ~P.O. ~ 2~6, ~im. ~ 48501-2~6, ml. (888) 679-,~ IERS. N~ E ~e "Mo~" ~ ~ ~e and ~ ~ti~ s~ly ~ ~ominae f~ C0~ ~o~ ~S, INC. (~" ~ "yon") ~-d ~ ~c~s ~d ~i~. MORTGAGED PKEMI,qRg: J~ considexation of the loan here,rafter described, we hereby mortgage, grant and convey lo M'KRS (solely as ]laminae for I~nder and I~nder :, ~ucccssors and assigns) :and IO Ih~ succ. l~ssors and a.q.qigns ofMERS, l. he pl~misgs located at: 36 C]qW~.K CIRCTi. ~rMTAWHE LINCOJ.N W~ 83127 (the '~:~'emi~s"). e, ME~SH~t c~-Wy IVk:~tgage ~=n~-wY (~./O4)(d) '23991 * Page I of 5 llllllilll * 0 8 6 1 65844 0 OD002~ D37' RANCH PI2~T 18, 0601 DOC ID %: 0008616584411004 LINCOLi; COUNTY, WY05IING AS DESCRIR~q PARff~J, ID NUMi !:}:,:1234180520602100 The t~emises inelud~s all buildings and other improvements now t,r m tile future on the ]h'emi~es and all fights and intereStS which fl~rive from our ownership, use or possession (,, mc Premises and all appurtenances thereto. WE UND/ERSTAND and agree that MERS is a separate coq )t fig,th)Il acting solely as nominee for T.ender and l~encler's successors and assigns, and holds only legal title to thc ~t~[crcsts granted by ns in Ibis Mortgage, but, ff necessary to comply with law or custom, MERS (as nominee fox' 1.cmlcr and Lender's successors and assigns) has me hg~e to exercise any orall of those interests, including, but m~ limited to, the right to foreclose and sell the Property, and tO take any action required of Lender including, r,m not limited to, relea~qing or canceling Ihis Mortgage. LOAN: 2'his Mortgage will secure your loan to us in the princ'q,al amount of $ 30,00D. 00 much thereof as may be advanced andleadvance, d from time tO ti,~: tt) SEXED K. YADEGARI or 8O the Borrower(s) under Ihe lq'oma F.,quity Crexlit l.ine Agreelllcilt imtt Disclosure Statement (th~ "NOte") dateA NOV~.t0rm:~-R 23 ~ 2 004 . plus interest ~nd costs, late ch:~rues and all othereharges~e, la!¢d to the loan, all of which snm~ are repayable according to the Note. This Mor~,:~,c 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 agr~men~ in this Mortgage, any cx~_cnsions, renewals, amendmc~ts, s,pplements and other raodif~ations of the Note, and any amounts advanced by you under the terms of the .%c¢lion of this Mortgage enfiIled "Our Anthority To YOU." l x lens nnrler the Note may be made, ~epaid and iemadc lrt)~ n time to time in accordance with the mrms of Ibc Note and subject totbe Credit l~imit set forth in the Note. OWNERSHIP: We are the sole owner(s) of the Premises. We haw t t~c legal right to mortgage the Premises to you. OIIRIMPORTANT OBLIGATIONS: (a) TAXI~-q: We will pay all real estate taxes, assessmem~, water charges and sewer rents ~elafing to Ibc th'cruises when Ihey become d-e. We will not claim ally credil {~ or make deduction from, the loan nnder the Note because we pay these taxes and charges. We will provide y(m tv i lb proof of payment upon request. (b) ~%t~/~IN'i"~IANCE: We will maintain Ih~ building(s) tm thc Premises in good ccmdition. We will not make major changes in the building(s) except for normal ~epairs. Wc will not tear down any oflhe building(s) on the ~remises withou! first getting your consent. We will not usc I tw Premises illegally. If lifts Mortgage is on a mt in a conrlnminium or a planned Imit development, we sh~dl perform all of our obligations under the declaration or covenants creating or governing the condnminium or planned unit development, the by-laws and Ieg,lafions of thc condominium or planned lmit development anti t't )l mti [uenl documents. (c) INSURANCE: We will keep the bnilding(s) on the Pre,roses insured at all times again.qt loss by fire, flood and any other ha?ards you may specify. We may choose thc- Htr, utah ce company, but our choice is subject to your l'easrmahle approval. The policies must be for at least the am; mats and the time periods that you specify. We will deliver to you upon your request the policies or other proof (,I' thc insurance. The policies m-st name you as "mortgagee" and "loss-payee" so that you will ~eceive paymem ~m all insurance claims, to the extent of your imerest ~ Ibis Mortgage, before we do. The insurance policic~, musl also provide that you be given not less ~han 10 days prior wrine~n notice of any cancellation or reduction m coverage, for any ~eason. Upon request, we ~hall deliver the policies, certificates or other evidence of insuran,v to you. In the event of loss or damage to Ihe ]:h'e:misp..21, we will immediate.]y notify you in wfiling and file a pn~,l of loss with the insurer. You may file a proof of loss on our behalfff we fail or ~e. flu~ to do so. You may also ~,.,,_m our name to any check, draft or o~her orde~r :for Ihe paym en t of ins, n'an ee proceeds in the event of I os s or dm n ~t r c t t ~ t t ~ e Premis es./f you ~ecei ye payment of a claim~ you will have Ibe right to choose to use ]he money either ,, roper the Premises or Io iexluce the mount owing on the Note. · MER~44t=, f~- WY Mortgage ~':n~-wY [02/O4) Page2 ~f 5 DOC ID :g: 0008626584412004 (d) cOIqD~MNATION: We assign to you Ihe proceeds [,I ..v award or claim for damages, direct or consequential, in connection with any condemnation or other t:m,.,u of the Premises, or part thereof, or for conveyance in lieu of condemnation, all of which shall be paid to vote. subjec[ to the terms of any Prior Mortgage. (el SECURITY IN'rh-~EST: We will join with you in signH,g and filing docnments and, at our expense, in doing whatever you believe is necessary to perfect and continue thc pc rfec tion of your lien and security interest in the taremises. It is agreed that Ihe Lender shall be subrogated to thc claims and liens of all parties whose claim.~ or liens are discharged or paid with the proceeds of Ibe Agreement see,red hereby. (fl OUR AUTHORITY TO YOU: If we fail to perform our ~.1',1, = a ti on s under this Mortgage. you may, ff you choose, pexform our obhgations and pay such costs and expense~, ~ ~>. will add the amounts you advance to Ihe sums owing on Ihe Note. on which you will charge interest at the mt c cst rate set forth in the Note. If. for example, we fail Io honor our promises Io maintain msnrance in effecL or .) i):0, filing fees, taxes or the cosm necessary to keep Ihe ?remises in good condition and repair or ~o perform an> ,)~ om' other agreements with you, you may. ff you choose, advance any sums Io ~tisfy any of our agreements x~ ,ti you and charge us interest on such advances at Ihe interest rate set forth in the Nme. This Morlgage secures ,11 .ach advances. Your payments on our behalf will not cure our failure to pexform our promises in Ihis Mortgag~ '\"3 replacement insurance Ihat you obtain to cover loss or damages to the th'emises may be limited to the am~ ).m ()wing on the Note plus the amount of any th'ior Mortgages. (gl PRIOR MORTC_~GE: If the provisions of this paragral ,. arc completex[ Ihis Mortgage is subject and subordinate ~oapriormortgage dated 03/22/2003 ,mi given by us to COUNTRYWIDE HOMR /~0ANS, INC. as mortgagee, in the Origin01 amount of $ 2 65, 000.00 (the "Prior Mortgage"). We rhall not ~inerease, ameald or modify the t:h'ior Mortgage without your pr..' x~ r~ t ten consent and ~hall npon ~eceipt of any written notice from the holder of Ihe Prior Mortgage promplly dcl i~ cra copy of such notice to you. We shall pay and perform all of our obligations nnder the th'ior Mortgage a:, .mi when required under the Prior Mortgage. (h) ~OUS SUBSTANCRR: We shall nOt cause or l,crmit the presence, use, disposal, storage, or release of any '[l'a?ardous Substances on or in the th'cruises. We sh,ll ,ol do, nor allow anyone else to do, anything affecting theth'emises that is in violation of anyF_mvironmental L;.',', Thc preceding two sentemces shall not apply to the presence, use, or storage on Ihe Premises of rmall quantim:. (~ H~ardous Substances Itmt are generally recogni?ed to be appropriate lo normal residential uses and to m,i,tcnance of the premises. As n~A in this paragraph, "t-la?ardous Subgtanc¢s" are those subgmnces dcfmcd as toxic or ha?.ardous substances by ~.mvironmental Law and the following subctances: gasoline, kt.n,;cne, other flammable or toxic petroleum products, loxi¢ pesticides and herbicides, volatile solvents, matcrmls containing asbestos or £ormalde~yde, and radioactive materials. As nsed in this paragraph, 'LEnvironmenmt t.aw" means federal laws and laws of Ihe jurisdiction whexe Ihe Premises are located that_ elate to health, sat ct, .r environmental protection. (il SAT~. OF ~PRF2MI.q~g: We will not sell, transfer ownership of, mortgage or otherwise dispose of our interest in Ihe Ih'emi ~s, in whole or in part, or permit any other 1 ~ c ~ o rcl aim agamst the th'cruises without your prior wr/nen consent. INSPECTION: We will permit you to inspect the Premisc~, :,1 an v reasonable time. NOLOSS OF RIGHTS: The Note and Ihis Mortgage may be neg(mmcd or assigned by you wilhout xele~ing us or thelaremiaes. You may add or rele. ase, any pexson or propexty oblie:,tcd m~der the Note and this Mortgage without losing your rights in Ihe Ih'emi ~s. DEFAULT: ~xcept as may be prohibited by applicable law, and .~,l't)c,,~ ,) any advance notice and cure period if xequired by applicable law. if any event or condition of default as &-scribed in the Note occurs, you may foreclose upon Ihis Mortgage. This means that you may arrange for the Pren.,,c. to be sold by advertimment and male or by judicial foreclosure, at your option, as provid~zl by law, in order ti) I': Lv off what we owe on the Note and lmder this Mortgage. If the money you a~ceive from the r. ale is not enough to p',,y off what we owe you, we will still owe you Ihe difference which you may seek Io collect from ns in accordanc~ xs'~ th applicable law. In addition, you may, in accordance with applicable law. (il enter on and take possession o mc Premises; (ii) collect the rental payments, including over-due mnml payment% directly from tenants after slllq~Jy notifying them first class mail Io make Iental paymems to you; ~fii) manage the P_remiaes; and (iv) gig.. c..~cel and change leases, We agree that the imerest rate set forth in the Note will continue before and Mtera del:eh entry of a judgment and foreclosure. In addition, you nhall be entitled to cnlle~t all reasonable fees and c..,t~ actually incurred by you in proee~Aing to :foreclosure. including, but not limitexl to, reachable attorneys fees, ,mi costs of documentary evidence, abstracts ASSIGNMRN~ OF RF_.NTS; APPOINTMENT OF~: A> ~,dditional security, we assign to you the mats of l. he t:h'emises. You or a xeceiver appointed by the courts .qhall bc c.titled to enter upon, take possession of and manage the th'cruises and collect the_rents of the Premises iueludi.~ mosc past due after simply notifying them by first class mail lO make xenlal payment~ to you. DOC ID %: 0008616584421004 WAIVERS: To Ihe extent permitled by applicable law, we waive :,,ti release any error or defects in proceedings IO enforce lifts Mortgage and hereby waive the benefit of any presc, t i,r future laws providing for shay of execution. ~exll~nsion of lime, exe. mpfion lb'om anaehment, levy Ired mir lind ht mcstcad exemption. ]3INDING ~h-'FF_,C~: ]~qch of us .qhall be ~qllly responsible for all ~ll' thc promises and agre~mcnts in Ibis Mortgage. Until the Note has been paid in ftfll and your obligation to nml.c further advances nnder Ih~ NoI~ terminated, Ihe provisions of Ihis Mortgage will be binding on us. tm r legal representatives, oar heirs and all fl~mre ownm's of lira t:~remi~s. This Mortgage is for your benefit Rod f(, ti ~t.- benefit of anyone m whom yon may a~,~ign it. Upon paym~t in full of all mounts owing Io you nnder Ibc Note and this Mortgage, and provided any obligation to make fnrl-her edwin.s nnder Ihe Note ha~ lenninatctt, this Mortgage and your rights ill Ihe P. remi ~hall end. NOTiCE: ~x__ty~pt for any notice required under applicable law to N. ,2iven ~n another nmnner, (a) any notice ~o us provided £or in this Mortgage ~hall be given by fle]ivering it or b~ ,mil Ii ng such notice by regular first ela.q~ mail adrl~d IO ns m'Ih~ last address appearing in your relsorcls or :, such other address as we may designate by noti~ Io you lis provided hm'ein, and (b) any notice to you shall be given by certifietl mail, return receipt l't~lll~Slt~l, I0 yOur address At ForMERS: P.O. }lox 2026, Flint. MI 48501-2026 iFor I ~nder: 4500 t:>ark Sranada, Calabasas, CA 91302-1613 or to Sllch other address as you .olay £1esignal'e by nolice ID us. An x ,~llice provided for in fllis MOllgage ~:hall Be deemed to have been given to t~s oryou when given in Ibc manne,' d:s:i unated herein. Rt:tI.~,A.qF.: Upon payment of all sums secured by Ihis Mortgagt- ami provided your obligation to make ~ ltdvanoe8 unde. l' ltle Note ~ terminated, you nhall discharge this Morlgage without charge to ns, except lhat we ~hall pay any fees for ~ecnrding ofa mfisfaction of Ihis Mortgage. C~NERAL: You can waive or delay enforcing any of your rights u,mcr this Mortgage without losing them. Any waiver by you of any provisions of INs Mortgage will not be a wa, x c r o f that or any other provision on any other OCe~_gion. Ttqlg MORTGAGE has been signed by each of ns under seal on tilt: date first above wriilen. SEX-F2D ~. 2fADEG_;:i.2 fiulmo~M ~ UlOOUl'1 { (SF~qL) (SF~L) · MERS Htq nC- WY Mor'igage ~EU37-WY (fl2/04) Page4 Df5 STATE OF WYOMING, The foregoing insm,m~nt was acknowle~l, ged before me this / ' / ."2 ~/ (l:~s°n a r:lc" °wledgi n [' DOC ID 4:0008616584~12004 Coun~ ~: (dale) ...... ts Public e MERSt-.:~ nc;- WY Mor'~age InYda/s: P,cnR"7-WY (132,'04) Page5 of 5