HomeMy WebLinkAbout912416
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After Recording Return To:
Taylor, Bean & Whitaker Mortgage Corp.
1417 North Magnolia Ave.
Ocala, FL 34475
RECEIVED 10/3/2005 at 2:15 PM
RECEIVING # 912416
BOOK: 600 PAGE: 64
JEANNE WAGNER
LlNCOL.t\1 COUNTY CLERK, KEMMERER, WY
[Space Above This Line For Recording Data]
MORTGAGE
MIN: 10002950000919198&'
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections 3, II, 13, 18,20
and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16.
(A) "Security Instrument" means this document, which is dated September 29,2005
Riders to this document.
, together with all
(B) "Borrower" is HartJ1a T Fleming
Borrower is the mortgagù:' under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc, MERS is a separate corporation that is acting solely as a
nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS
is organized and existing under the laws of Delaware, and has an address and telephone number of P.O, Box 2026, Flint, MI
48501-2026, tel. (888) 679-MERS,
(D) "Lender" is Taylor, Bean & Whitaker Mortgage Corp.
Lender is a a Florida Corporation
the laws of FL
1417 North Magnolia Ave, Ocala, FL 34475
organized and existing under
. Lender's address is
(E) "Note" means the promissory note signed by Borrower and datl'.d September 29,2005 . The Note
states that Borrower owes Under Two Hundred Eighty Seven Thousand Nine Hundred and no/100
Dollars (D,S, $ 287 ,9ÓO.00 ) plus interest. Borrower has promised
to pay this debt in regular Periodic Payments and to pay the debt in f~¡ll not later than November 01, 2035
.3 ( (F) "Property" means the property that is described below under tile heading "Transfer of Rights in the Property."
WYOMING-Single Family-Fannie MaeIFreddie ,Mac UNIFORM INSTRUMENT
Form 30511/01
GREATLAND.
To Order Gall: 1-600-530-9393 o Fax: 616-791-1131
ITEM T2769L 1 (0011 )-MERS
(Page J of 12 pag!!s)
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(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the
Note, and all sums due under this Security Instrument, plus interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
executed by Borrower [check box as applicable]:
ŒJ Adjustable Rate Ride':
o Condominium Rider
[X] Second Home Rider
D Balloon Rider
D Planned Unit Developmem Rider
D Other(s) [specify]
D 1-4 Family Rider
o Biweekly Payment Rider
(I) "Applicable Law" means all controlling applicable federal, státe and local statutes, regulations, ordinances and
administrative rules and orders (that have the effect of law) as well as aU applicable final, non-appealable judicial opinions.
(J) "Community Associatbn Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are
imposed on BOITower or the Property by a condominium association, homeowners association or similar organization.
(K) "Electronic Funds Transfer" means any transfer of funds, øther than a transaction originated by check, draft, or
similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape
so as to order, instruct, or authorize a financial institution to debit or credit an account. Such tenn includes, but is not limited
to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and
automated clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section
(M) "Miscellaneous Proceeds" means any compensation, settleme .~: award of damages, or proceeds paid by any third
party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the
Property; (ii) condemnation Or ether taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or
(iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan,
(0) "Periodic Payment" means the regularly scheduled amount d'ue for (i) principal and interest under the Note, plus
(ii) any amounts under Section 3 of this Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S,C. §260l et seq.) and its implementing regulation,
Regulation X (24 C,F.R. Part 3500), as they might be amended from:'time to time, or any additional or successor legislation
or regulation that governs the same subject matter. As used in this Seèurity Instrument, "RESPA" refers to all requirements
and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a
"federally related mortgage loan",under RESPA.
(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
assumed BOITower's obligations under the Note and/or this Security Instrument.
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WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT
ITEM T2769l2 (0011 )-MERS
(Page 2 of 12 pages)
Form 30511JOl
GREATLAND.
To Order Call: 1-800-530-9393 o Fax: 616-791-1131
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TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument s,ecures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of
the Note; and (ii) the performance of BOlTower's covenants and agreements under this Security Instrument and the Note, For
this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's
successors and assigns) and to the successors and assigns of MERS, with power of sale, t.he following described property
located in the County of Lm~oln , , , :
[Type of Recording Jurisdiction] [Name of Recordmg JunsdlctlOn]
See Attached Exhibit A.
which currently has the address of
101 Ashley Drive
(Street]
Alpine
(City]
, Wyoming
83128
';-i,-Code]
("Property Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
and fixtures now or heJeafter a part of the property. All replacements and additions shall also be covered by this Security
Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees
that MERS holds only legal title to the interests granted by BOlTower in this Security Instrument, but, if necessary to comply
with law or custom, MERS (as nominee for Lender 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 forec]ose and sell the Property; and to take any action required of
Lender including, but not limited to, releasing and canceling this S~curity Instrument.
BORROWER COVENANTS that \Borrower is lawfully sëised of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
BOlTower warrants and will defend generally the title to the Property against àll claims and demands, subject to any
encumbrances of record,
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifonn covenants with
limited variations, by jurisdiction to constitute a unifonn security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay
when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due
under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
Security Instrument shall be made in U,S, currency. However, if any check or other instrument received by Lender as
payment under the Note or this Security Instrument is rètumed to Lender unpaid, Lender may require that any or all
subsequent payments due under the Note and this Security Instrument be made in one or more of the following fonns, as
selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided
any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or
(d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at such other location
as may be designated by Lender in accordance with the notice provisions in Section IS, Lender may return any payment or
ITEM T2769L3 (0011 )-MERS
(Page 3 oj I? pages)
Form 3051 1/01
GREATLAND.
To Order Call: 1-800·530·9393 o Fax: 616·79H131
WYOMING-Single Family-Fannie MaelFredilie Mac UNIFORM INSTRUMENT
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partial payment if the payment or partial payments are insufficient to b,'.;; the Loan current. Lender may accept any payment
or partial payment insufficient to bring the Loan current, without wai', ,f of any rights hereunder or prejudice to its rights to
refuse such payment or pa~ti~l payments in the future, but Lender is not obligated to apply such payments at the time such
payments are accepted. If ea¡:h Periodic Payment is applied as of its sc¡heduled due date, then Lender need not pay interest on
unapplied funds, Lender may hold such unapplied funds until Borrower makes payment to bring the Loan cun-ent. If
Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower.
If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to
foreclosure. No offset or claim which Borròwer might have now o~ in the future against Lender shall relieve Borrower from
making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by
this Secmity Instrument.
2. Application of P2yments or Proceeds. Except as otherwise described in this Section 2, an payments accepted
and applied by Lender shall be applied in the following order of priürity: (a) interest due under the Note; (b) principal due
under the Note; (c) amounts, d~ under Section 3, Such payments sh~n be applied to each Periodic Payment in the order in
which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under
this Security Instrument, and then to reduce the principal balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to
pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Peliodic
Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments
if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to
the full payment of one or mere Periodic Payments, such exœss may be applied to any late charges due, Voluntary
prepayments shall be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not
extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note,
until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and
other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
payments or ground rents on the Property, if any; (c) premiums for any and a11 insurance required by Lender under Section 5;
and (d) Mortgage Insurance premiums. if any, or any sums payable 'by Borrower to Lender in lieu of the payment of
Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items," At
origination or at any time Öuring the term of the Loan, Lender may I require that Community Association Dues, Fees, and
Assessments, if any, be escrowed by BOlTower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall
promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for
Escrow Items unless Lender waives Borrower's obligation to pay tbe Funds for any or all Escrow Items. Lender may waive
BOlTower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in
writing. In the event of such waiver, BOlTower shall pay directly, when and where payable, the amounts due for any Escrow
Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
evidencing such payment within such time period as Lender may require, Borrower's obligation to make such payments and
to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as
the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
a waiver, and Bon-ower fails to pay the amount due for an Escrow Itt.m..Lender may exercise its rights under Section 9 and
pay such amount and Borrower shall then be obligated under Secticr, 9 to repay to Lender any such amount. Lender may
revoke the waiver as to any or all Escrow Items at any time by a not:c'e given in accordance with Section IS and, upon such
revocation, Borrower shar pay to Lender a11 Funds, and in such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the
time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow
Items or otherwise in accordance with Applicable Law.
The Funds shall be held in an institution whose deposits àrè insured by a federal agency, instrumentality, or entity
(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall
apply the Funds to pay the Escrow Items no later than the time specifj~d under RESP A. Lender shall not charge Borrower for
holding and applying the Funds, annua11y analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
Bon-ower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in
writing or Applicable Law requires interest to be paid on the Funds, I~ender shall not be required to pay Borrower any interest
WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUlVŒNT
ITEM T2769L4 (0011 )-MERS
(Page 4 of 12 pages)
Form 3051 1/01
GREATLAND.
To Order Call: 1-800-530-9393 o Fax: 616-791-1131
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or earnings on the Funds, lion'ower and Lender can agree in writing, however, that interest shall be paid on the Funds,
Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA,
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess
funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall
notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as
defined under RESPA, Lender shaH notify Borrower as required by RESPA, and BOlTower shall pay to Lender the amount
necessary to make up the deficiency in accordance with RESPA, but Ü,l no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Ins,rument, Lender shall promptly refund to Borrower any
Funds held by Lender. '
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attIibutable to the
Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
and Community Association Dues, Fees, and Assessments, if any. To tlJe extent that these items are Escrow Items, Borrower
shall pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees
in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
Borrower is perfonning such agreement; (b) contests the lien in g':)od faith by, or defends against enforcement of the lien in,
legal proceedings which in Lender's opinion operate to prevent thr. enforcement of the lien while those proceedings are
pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to
Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a
lien which can attain priority over this Security Instrument, Lender may give BOlTower a notice identifying the lien. Within
10 days of the date on which that notice is given, BOlTower shall satisfy the lien or take one or more of the actions set forth
above in this Section 4.
Lender may require BOlTower to pay a one-time charge for a reaJ estate tax verification and/or reporting service used by
Lender in connection with this Loan,
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
insured 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. This insurance shall be maintained in the amounts
(including deductible levels) and for the periods that Lender requires, What Lender requires pursuant to the preceding
sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
subject to Lender's right to disapprove Borrower's choice, which rigl¡t shall not be exercised unreasonably, Lender may
require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone detennination,
certification and tracking services; or (b) a one-time charge for flood zone detennination and certification services and
subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or
certification. BOlTower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management
Agency in connection with the review of any flood zone detenninatio'l resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described a')(''1e, Lender may obtain insurance coverage, at Lender's
option and Borrower's expense. Lender is under no obligation t(; ~mrchase any particular type or amount of coverage,
Therefore, such coverage shall cover Lénder, but might or might nm protect BOlTower, Borrower's equity in the Property, or
the contents of the Propeity, against any risk, hazard or liability and might provide greater or Jesser coverage than was
previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed
the cost of insurance that Borrower could have obtained, Any amounts disbursed by Lender under this Section 5 shall become
additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
date of disbursement and shall be payable, with such 'interest, upon notice from Lender to BOlTower requesting payment.
All insurance policies required by Lender and renewals of suc̡ policies shall be subject to Lender's right to disapprove
such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss
payee, Lender shall have the; right to hold the policies and renewal .;ertificates. If Lender requires, Borrower shall promptly
give to Lender all receipts of paid premiums and renewal notices. J:.:' Borrower obtains any fonn of insurance coverage, not
otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage
clause and shall name Lender as mortgagee and/or as an additionallc,,;s payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
loss if not made promptly by Borrower. Tjnless Lender and BOlTower otherwise agree in writing, any insurance proceeds,
WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT
ITEM T2769L5 (0011 )-MERS
(Page 5 of 12 page,,)
Form 3051 lJ01
GREATLAND.
To Order Gall: 1-800-530-9393 o Fax: 616-791-1131
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whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Propel1y, if
the restoration or repair is economically feasible and Lender's security is not lessened, During such repair and restoration
period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such
Property to ensure the work,has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on
such insurance proceeds, Lender shall not be required to pay B,orrower any interest or earnings on such proceeds. Fees for
public adjusters, or other third parties, retained by Borrower shall nGt b~ 'paid out of the insurance proceeds and shall be the
sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened,
the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
claim, then Lender may negotiate and settle the claim. The 3D-day period will begin when the notice is given. In either event,
or if Lender acquires the Property under Section 22 or otherwise, BOlTG' if,; hereby assigns to Lender (a) Borrower's rights to
any insurance proceeds in an amount not to exceed the amounts uq¡¡d under the Note or this Security Instrument, and
(b) any other of Borrower's rights (other than the right to any refur.å of unearned premiums paid by Borrower) under all
insurance policies covering tile Property, insofar as such rights are applicable to the coverage of the Property, Lender may use
the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
Instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60
days after the execution of this Security Instrument and shall cont;nue to occupy the Property as Borrower's principal
residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not
be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Prop~-rty; Inspections. Borrower shall not destroy, damage
or impair the Property, allow the Property to deteriorate or COI11I1kt waste on the Property. Whether or not Borrower is
residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or
decreasing in value due to its condition. Unless it is determined pÙrsuant to Section 5 that repair or restoration is not
economically feasible, Bon'owel shall promptly repair the Property if damaged to avoid further deterioration or damage, If
insurance or condemnation proceeds are paid in connection witll damage to, or the taking of, the Property, Borrower shall be
responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes, Lender may
disburse proceeds for the repairs 'Ind restoration in a single payment or in a series of progress payments as the work is
completed, If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not
relieved of Borrower's obligatior. for the completion of such repair or restoration.
Lender or its agent rn'ày make reasonable entries upon and inspections of the Property, If it has reasonable cause, Lender
may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to
such an interior inspection Specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during 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 infOlmation 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 principal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower
fails to perfOlm the covenaI)ts and agreements contained in this Security Instrument, (b) there is a legal proceeding that might
sigrúficantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in
bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security
Instrument or to enforce laws or regulations), or (c) Borrower has ahandoned the Property, then Lender may do and pay for
whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,
including protecting and/or assessing the value of the Property, and securing and/or repairing the Property, Lender's actions
can include, but are not linúted to: (a) paying any sums secured by a lien which has priority over this Security Instrument;
(b) appearing in court; and (c) paying reasonable attorneys' fees 'to protect its interest in the Property and/or rights under this
Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not
limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from
WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMEr-ri.'
ITEM T2769L6 (0011 )-MERS
(Page 6 of 12 pages)
~lli~iliili~~~"
Form 3051 1/01
GREATLAND.
To Order Call: 1-800-530-93930 Fax: 616-791-1131
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pipes, eliminate building or other code violaÚons or dangerous conditions, and have utilities turned on or off, Although
Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so,
It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shaH become additional debt of Borrower secured by this
Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,
with such interest, upon notice from Lender to Bon'owerrequesting payment.
If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower
acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage In&uranœ as a condition of making the Loan, Borrower shall
pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage
required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower
was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost
substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage
insurer selected by Lender. If substantially equivalent Mortgage In:: 'lrance coverage is not available, Borrower shall continue
to pay to Lender the amour.t of the separately designated payments¡hr,r, were due when the insurance coverage ceased to be in
effect. Lender will accept, use and retain these payments as a non-rc:::nuable loss reserve in lieu of Mortgage Insurance. Such
loss reserve shall be non-refundable, notwithstanding the fact that Co Loan is ultimately paid in full, and Lender shall not be
required to pay Borrowe: any interest or earnings on such loss reserve, Lender can no longer require loss reserve payments if
Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by
Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for
Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and BOlTower was required to
make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for
Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such
termination or until termiration is required by Applicable Law. l';othing in this Section 10 affects Borrower's obligation to
pay interest at the rate provided in the Note. '
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
Borrower does not repay the Loan as agreed. Borrower is not a pan:' to the Mortgage Insurance,
Mortgage insurers evaluate their total risk on all such inSLrance in force from time to time, and may enter into
agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions
that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may
require the mortgage insurer tò make payments using any source of funds that the mortgage insurer may have available
(which may include funds obtained from Mortgage Insurance prem.iums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or
any affiliate of any of the foì'egoing, may receive (directly or indir~ctly) amounts that derive from (or might be characterized
as) a portion of Borrower's payments for MOltgage Insurance, in exchange for sharing or modifying the mortgage insurer's
risk, or reducing losses, If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange
for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,
or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage
Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has-if any-with respect to the Mortgage
Insurance under the Homeowners Protection Act of 1998 01" any other law. These rights may include the right to
receive certain disclosures, to request ~\ßd obtain cancellation of the Mortgage Insurance, to have the Mortgage
Insurance terminated automatically, and/or to receh'e a refund of any Mortgage Insurance premiums that were
unearned at the time of such cancellation or termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture.. All Miscellaneous Proceeds are hereby assigned to and shall
be paid to Lender.
If the Property is damaged, such Miscellaneou:; Proceeds shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property
to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly,
WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUI\ŒNT
Form 30511101
GREATLAND.
To Order Call: 1-800-530-93930 Fax: 616-791-1131
ITEM T2769L7 (0011 )-MERS
(Page 7 of 12 p 'ges)
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Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
completed. Unless an agreement is made in writing or Applicablé Law requires interest to be paid on such Miscellaneous
Proceeds, Lender shall nòt be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds, If the
restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
Such Miscellaneous Proceeds ~hall be applied in the order provided fJr in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to
the sums secured by this Security Instrument, whether or not then dùe, with the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
Miscellaneous Proceeds multipiied by the following fraction: (a) the total amount of the sums secured immediately before the
partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial
taking, destruction, or loss in value, Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
Property immediately before the partial taking, destruction, or joss in value is less than the amount of the sums secured
immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing,
the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are
then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined
in the next sentence) offen to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30
days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to
restoration or repair of the Property or to the slims secured by this Security Instrument, whether or not then due. "Opposing
Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Bon'ower has a right of
action in regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this
Security Instrument Borrower can cure such a default and, if accelerati()n has occurred, reinstate as provided in Section 19,
by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes fOlfeiture of the
Property or other material impairment of Lender's interest in the Property or rights under tlùs Security Instrument The
proceeds of any award or claim for damages that are attributable tû the impairment of Lender's interest in the Property are
hereby assigned and shall be paid to Lender. ' .
All Miscellaneous PrQceeds that are not applied to restoration or repair of the Property shall be applied in the order
provided for in Section 2. , .
12. Borrower N(.f Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
Successor in Interest of Borrower shall not operate to release the liabiJity of Borrower or any Successors in Interest of
Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse
to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of
any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in
exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or
Successors in Interest of Horrower or in amounts less than the amount then due, shall not be a waiver of or preclude the
exercise of any right or remedy.
13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that
BOlTower's obligations and liability shall be joint and severaL However, any Borrower who co-signs this Security Instrument
but does not execute the Note,(a "co-signer"): (a) is co-signing t¡Üs Security Instrument only to mortgage, grant and convey
the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend,
modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the
co-signer's consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
WYOMING-Single Family-Faq.,ie MaeJFreddie Mac UNIFORM INSTRUMENT
ITEM T2769L8 (0011 )-MERS
(Page 8 of 12 pages)
Form 30511/01
GREATLAND.
To Order Call: 1-800-530-9393 o Fax: 616-791-1131
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this Security Instrument. Borrower shall not be released from B )';-ower's obligations and liability under this Security
Instrument unless Lender agrees to such release in writing. The CO'/"lants and agreements of this Security Instrument shall
bind (except as provided in Se,ction 20) and benefit the successors awl assigns of Lender.
14. Loan Charges Lender may charge Bon-ower fees for services performed in connection with Bon-ower's default,
for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not
limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority
in this Security Instrument to charge a specific fee to Bon-ower shall not be construed as a prohibition on the charging of such
fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest
or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such
loan charge shall be reduced by the amount necessary to reduce the charge to the permitted liIIÚt; and (b) any sums already
collected from Bon-ower which exceeded permitted limits will be refunded to Bon-ower. Lender may choose to make this
refund by reducing the principal owed under the Note or by making a direct payment to Bon-ower. If a refund reduces
principal, the reduction will be treated as a partial prepayment witho'Jt any prepayment charge (whether or not a prepayment
charge is provided for under the Note), Borrower's acceptance of any such refund made by direct payment to Borrower will
constitute a waiver of any right of action Borrower might have arising ,out of such overcharge.
15. Notices. All notices given by Borrower or Lender in cOlmection with this Security Instrument must be in writing.
Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Bon-ower when
mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means, Notice to anyone
Borrower shall constitute notice to all Borrowers unless AppliGabk Law expressly requires otherwise. The notice address
shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall
promptly notify Lender of Bon-ower,s change of address. If Lender specifies a procedure for reporting Bon-ower's change of
address, then Bon-ower shall only report a change of address through that specified procedure. There may be only one
designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it
or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to
Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until
actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the
Applicable Law requirement will satisfy the corresponding requiremlnt under this Security Instrument.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law
and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security
Instrument are subject to any requirements arid limitations of Applicable Law. Applicable Law IIÚght explicitly or implicitly
allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against
agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with
Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given
effect without the conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter
words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
word "may" gives sole discretion without any obligation to take any action.
17. Borrower's Copy. Bon-ower shall be given one copy oOte Note and of this Security Instrument.
18. Transfer of the Property or a Beneficial Interest in i}orrower. As used in this Section 18, "Interest in the
Property" means any legà! or beneficial interest in the Property,.' hcluding, but not limited to, those beneficial interests
transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
transfer of title by Bon-ower at a future date to a purchaser.
If all or any paJ1 of the Property or any Interest in the Property is sold or transfen-ed (or if Borrower is not a natural
person and a beneficial interest in Borrower is sold or transfen-ed) without Lender's prior written consent, Lender may
require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be
exercised by Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Bon-ower nC'tice of acceleration. The notice shall provide a period of
not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all
sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender
may invoke any remedies permitted by this Security Instrument witt,üut further notice or demand on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have
the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before
WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT
ITEM T2769L9 (0011 )-MERS
(Page 9 of 12 pages)
Form 3051 1/01
GREATLAND .
To Or~er CaU: 1-800-530-93930 Fax: 616-791-1131
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sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable
Law might specify for the t«nnination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security
Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security
Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements;
(c) pays all expenses incurred in enforcing this Security Instrument, ir"cluding, but not limited to, reasonable attorneys' fees,
property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property
and rights under this Securit';/ Instrument; and Cd) takes such action as Lender may reasonably require to assure that Lender's
interest in the Property ar.d rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this
Security Instrument, shall continue unchanged. Lender may require that Bòrrower pay such reinstatement sums and expenses
in one or more of the following forms, as selected by Lender: (a) c¡¡sh; (b) money order; (c) certified check, bank check,
treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a
federal agency, instrumemalityorentity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security
Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right
to reinstate shall not apply in the case of acceleration under Section 18,
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together
with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a
change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security
Instrument and performs otaer mortgage loan sérvicing obligations lird.::r the Note, this Security Instrument, and Applicable
Law. There also might be on'e or more changes of th~ Loan Servicer l:r,:~lated to a sale of the Note. If there is a change of the
Loan Servicer, Borrower will be given written notice of the change ;'hich will state the name and address of the new Loan
Servicer, the address to which payments should be made and any other information RESPA requires in connection with a
notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the
purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be
transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note
purchaser.
Neither Bon'ower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or
the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the
other party has breached an:: provision of, or any duty owed by rea~on of, this Security Instrument, until such Borrower or
Lender has notified the other party (with suc~ notice given in cOalpliance with the requirements of Section 15) of such
alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action.
If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be
deemed to be reasonable for purposes of this paragraph, The notice of acceleration and opportunity to cure given to Borrower
pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the
notice and opportunity to take corrective action provisions of this Se'ction 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as
toxic or hazardous substances, pollutants, or wastes 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 materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where
the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any
response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition"
means a condition that can cause, contribute to, or otherwise trigger a.n Environmental Cleanup.
Bon'ower shall not calJse or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or
threaten to release any Hazardous Substances, on ()f in the Property. Borrower shall not do, nor allow anyone else to do,
anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental
Condition, or (c) which, 'due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely
affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property
of small quantities of Haza::dous Substances that are generally recognized to be appropriate to normal residential uses and to
maintenance of the Property (including, but not limited to, hazardous substances in consumer products),
Borrower shall prom"ptly give Lender written notice of (a) any mvestigation, claim, demand, lawsuit or other action by
any governmental or ægulatory agency or private party involving the Property and any Hazardous Substance or
Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to,
any spilling, leaking, discharge, release or threat of release of ~ny Hazardous Substance, and (c) any condition caused by the
WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT
, ,
ITEM T2769L10 (OOI1)-MEAS
(Page 10 of 12 pdge~)
Form 3051 1/01
GREATLAND.
To Order Call: 1-800-530-9393 OFax; 616'791-1131
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presence, use or release of a Hazardous Substance which adversely affects the value of the Property, If Borrower learns, or is
notified by any governmental or regulatory authOlity, or any private party, that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in
accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
NON-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18
unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the
default; (c) a date, not less than 30 days from the date the notite is given to Borrower, by which the default must be
cured; and (d) that faHure to cure the default on or before the date specified in the notice may result in acceleration of
the sums secured by thIs Security Instrument and sale of the Property. The notice shall further inform Borrower of
the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or
any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the
notice, Lender at its option may require immediate payment in, full of all sums secured by this Security Instrument
without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law.
Lender shall be entitled to collect all expenses incurred inl'ursuing the remedies provided in this Section 22,
including, but not limited to, reasonable attorneys' fees and cos \~ of title evidence.
If Lender invokes the power of sale, Lender shall give not c:e of intent to foreclose to Borrower and to the person
in possession of the Property, if different, in accordance with /"pplicable Law. Lender shall give notice of the sale to
Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold
in the manner prescriùed by Applicable Law. Lender or its designee may purchase the Property at any sale. The
proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to,
reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
persons legally entitled to it.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instrument. Borrower shall pay any recordation costs, Lender may charge Borrower a fee for releasing this Security
Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under
Applicable Law.
24. Waivers. Bon-ower releases and waives all rights UTlcler and by virtue of the homestead exemption laws of
Wyoming,
WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
ITEM T2769L11 (0011 }-MERS
(Page 11 of 12 pages)
Form 3051 1/01
GREATLAND.
To Order Call: 1-800-530-9393 0 Fax: 616-791-1131
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BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in pages. 1 throngb 12 of
'uñty fumrurueu.t :;nd 'in any Rider eXe{.'Utcl &y Rcrre"Ncr ~nd roc=íe-J with it,
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The foregoing ill5trMnent was aclnowl~ged before me by H IJ ¡::¿ í H fJ
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WYOMING-SingJe Family-J'annie Maell'ftddk Mac UNIFORM INSntUMEl'IT
ITEM T2ï69U2 (OO11i-foIBiS;
fP~ 1"1 øfnii"-'1í<!;1).
Form 3051 1/01
GÆATL~.ND .
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SECOND HOME RIDER
THIS SECOND HOME RIDER is made this 29th day of September 2005
and is incorporated into and shaH 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 undersigned) to seCUie Borrower's Note to Taylor, Bean &
Whitaker Mortgage Corp.
(the "Lender") of the same date and covering the Property described III the Security Instrument (the
"Property"), which is located at:
101 Ashley Drive
Alpine, WY 83128
[property Address]
In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
further covenant and agree that Sections 6 and 8 of the Security Instrument 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 at
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 the Property
or give a management firm or any other person any control over the occupancy or use of the
Property.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application
process, Borrower or any persons or entities acting at the direction of Borrower or with
Borrower's kr.owledge 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.
MUL TIST A TE SECOND HOME RIDER-Single Family-Fannie MaelFreddíe Mac UNIFORM INSTRUMENT
Form 3890 1/01
ITEM T7099L1 (0011)
(Page 1 012 pages)
GREATLAND.
To Order Call: 1-800-530-9393 o Fax: 616-791-1131
1111111 111111111111111111111111111111111111111111111111111111111111111
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BY SIGNING BELOW, Borrower aœepts and agrees to the terms. and provisions. contained in pages
1 :md 2 this. Sa:œd Hf.Jme Rider.
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ADJUSTABLE RATE RIDER
(1 Year Treasury Index-Rate Caps)
THIS ADJUSTABLE RATE RIDER is made this 29th day of September 2005
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 Adjustable Rate Note (the "Note") to Taylor, Bean & Whitaker Mortgage Corp.
(the "Lender") of the same date and covering the property described in the Security Instrument and located at:
101 Ashley Drive
Alpine, WY 83128
[property Address]
THE NOTE CONTAINS PROVISIONS AU-,OWING FOR CHANGES IN THE
INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE
AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME
AND THE MAXIMUM RATE THE BORROWER MUST PAY.
ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security
Instrument, Bon'ower and Lender further covenant and agree as follows:
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note provides for an initial interest rate of 5.2500%, The Note provides for changes
in the interest rate and the monthly payments as follows:
4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
(A) Change Dates
The interest rate I will pay may change on the first day of November 2008
and on that day every 12th month thereafter. Each date on which my interest rate could change is called a
"Change Date." ,
(B) The Index
Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the
weekly average yield on United States Treasury securities adjusted to a constant maturity of one year, as
made available by the Federal Reserve Board, The most recent Index figure available as of the date 45 days
before each Change Date is called the "Current Index."
If the Index is no longer available, the Note Holder will choose a new index which is based upon
comparable information. The Note Holder will give me notice of this choice.
(C) Calculation of Changes
Before each Change Date, the Note Holder will caJculate my new interest rate by adding Two and
Three Quarters
percentage points ( 2.7500%) to the Current Index, The Note Holder will then round the result of
this addition to the nearest one-eighth of one percentage point (0.125%), Subject to the limits stated in
Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date.
MULTISTATE ADJUSTABLE RATE RIDER-ARM 5-2--Single FlIlÚly-
Fannie MaeJFreddie Mac UNIFORM INSTRUMENT
Fannie Mae 4-215-2/6-2 ARM
ITEM T2064L1 (0011)
(Page 1 of 3 pages)
Form 31111101
GREATLAND.
To Order CalL 1-800-530-9393 o Fax: 616-791-1131
11111/1 111111111111/111111111111111111111111111111111111111111111 1111
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The Note Holder will then determine the amount of the monthly payment that would be sufficient to
repay the unpaid principal that I am expécted to owe at the Change Date in full on the maturity date at my
new interest rate in substantially equal payments. The result of this calculation will be the new amount of my
monthly payment.
(D) Lhnits on Interest Rate Changes
The interest raté I am required to pay at the first Change Date will not be greater than 7.2500%
or less than 3.2500%, Thereafter, my interest rate will never be increased or decreased on any single
Change Date by more than two percentage points (2,0%) fro;n the rate of interest I have been paying for the
preceding 12 months. My interest rate will never be greater than 11.2500%.
(E) Effective Date of Changes
My new interest rate will become effective on each Change Date. I will pay the amount of my new
monthly payment beginning on the first monthly payment date after the Change Date until the amount of my
monthly payment changes again.
(F) Notice of Changes
The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount
of my monthly payment before the effective date of any change, The notice will include information required
by law to be given to me and also the title and telephone number of a person who will answer any question I
may have regarding the notice,
B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
Section 18 of the Security Instrument is 'amended to read as follows:
Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18,
"Interest in the Property" means any legal or beneficial interest in the Property, including, but not
limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment
sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a
future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred (or if
Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)
without Lender's prior written consent, Lender may require immediate payment in full of all sums
secured by this Security Instrument. However, this option shall not be exercised by Lender if
such exercise is prohibited by Applicable Law, Lender also shall not exercise this option if:
(a) Borrower causes to be submitted to Lender information required by Lender to evaluate the
intended'transferee as if a new loan were being made to the transferee; and (b) Lender reasonably
determines that Lender's security will not be impaired by the loan assumption and that the risk of
a breach of any covenant or agreement in this Security instrument is acceptable to Lender.
To the extent permitted by Applicable Law/binder may charge a reasonable fee as a
condition to Lender's consent to the loan assumption. Lender may also require the transferee to
sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep
all the promises and agreements made in the Note and in this Security Instrument. Borrower will
continue to be obligated under the Note and this Security Instrument unless Lender releases
Borrower in writing.
If Lender exercises the option to require immediate payment in full, Lender shall give
Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from
the date the notice is given in accordance with Section 15 within which Borrower must pay all
sums secured by this Security Instrument. If Bor¡'ower fails to pay these sums prior to the
expiration of this period, Lender may invoke any remedies permitted by this Security Instrument
without further notice or demand on Borrower.
MULTISTATE ADJUSTABLE RATE RIDER-ARM S-2-Sin"le Family-
Fannie MaelFreddie Mac UNIFORM INSTRUMENT ",
Fannie Mae 4-'1JS-2/6-2 ARM
Form 31111/01
ITEM T2064L2 (0011)
(Page 2 of 3 pages)
GREATLAND.
To Order Call; 1-800-530-9393 o Fax: 616-791-1131
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\¡J,~.' ...->'--' BY SIGNING BELOW. Borrower accepts and a,l,,-œs to the terms and covenants contained in pages
1 through 3 of tlñs Adjustable Rate Rider.
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-Borrower
MULTISTA TE ADJUSTABLE RA TERmER-ARM 5.2-Single Famjly_
Fannie MaeIFreddle Mac UNIFORM INSTRUMENr
Fannie Mae 4-215·216.2 ARM
ITEM T2064L3 (0011)
(Pag-e 3 of3 pag~J>
Fonn 31111/01
GREATlAND .
r" Order Ca,: HOo-53G-9393D Fax: 616-791-1131
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RELEASE AND WAIVER
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For good and valuable co . deration, the receipt and sufficiency of which is
acknowledged, I, . [S -t'Q ("v , do
hereby forever reJease and "W ive all rights unde and by virtue of the Homestead
Exemption Laws of the State of Wyoming in regard to:
Lot 16 Trail Creek Subdivision, Lincoln County, Wyoming according to that plat
filed April 3, 2002 in the Office of the Lincoln County Clerk as Plat No. 196F.
together with an improvements thereon. '
I realize that my wife, Hartha T. Fleming, has applied to Taylor Bean & Mortgage
Corporation for a loan and acknowledge that the said lender has relied upon this
release and waiver in making the said loan.
Dated: This
'e2,/:Ii day of ~Þ:n rr; 2005.
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STATE OF
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COUNTY OF
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The foregoing instrument was acknowledged before me this ó2-1 d of
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WITNESS my hand and official seal.
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Notary Public
My Commission Expires:
Residing in:
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BARBARA L, BEL LOll
_ Commission # 1383675 z
~ - Notary Public - California ~
z . ~ Merced County -
My Comm. Expires Dee 3, 2006
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LEGAL DESCRIPTION
Lot 16 Trail Creek Subdivision, Lincoln County, Wyoming, according to that plat filed April 3,
2002 in the Office of the Lincoln County Clerk as Plat No. 196F.
This is a 1 st Real Estate Mortgage recording concurrently with a 2nd Real Estate Mortgage dated
September 29,2005 in favor of Taylor, Bean & Whitaker Mortgage Corp. in the original loan
amount of$35,950.
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File Number: 50011
Land Title Company
Attached Legal Description
Page 1 of I
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