Loading...
HomeMy WebLinkAbout913581 .'¡')O,n.14 '.. U Jj_ ... After Recording Return To: FIRST FRANKLIN c/o SECURITY CONNECTIONS 1935 INTERNATIONAL WAY IDAHO FALLS, ID 83402 RECEIVED 11/9/2005 at 3:55 PM RECEIVING # 913581 BOOK: 604 PAGE: 314 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 1, I J Lt.) J. I i':' , , ' [Space Abovc This Linc For Recording Data] lVIORTGAGE DEFINITIONS \Vords used in lllultiple sections of this document are defined below and otllcr words are dcfincd in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section ]6. (A) "Security Instrument" means this document, which is dated November 01, 2005 , together with all Riders to this document. (ß) "Borrower" is DAN L ASHMENT and DEBRA J ASHMENT, HUSBAND AND WIFE AS JOINT TENANTS 15 Borrower is the mortgagor under this Security Instrument. (C) "Lender" is FIRST FRANKLIN A DIVISION OF NAT. CITY BANK OF IN Lender is a National Association thc laws of United States of America 2150 NORTH FIRST STREET, SAN JOSE, California 95131 organized and existing under . Lcnder' s addn~ss is . Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by BOITower and daled November 01, 2005 . The Note states that Borrower owes Lender One Hundred Sixteen Thousand and no/100 Dollars (U.S. $116,000.00 ) plus interest. Borrower has prOlllised to pay this debt in regular Periodic Payments and to pay the debt in full not later than December 01, 2035 (E) "Property" means the property Ihat is described below under the heading "Tnlusfer of Rights in the Property." (F) "Loan" means the debt evidenccd by the Note, plus interesl, any prepaymeut charges and late charges due under the Note, and all stuns due under this Security Instrument, plus intercst. (G) "Riders" mcans all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by BOITower [check box as applicable]: ITI Adjustable Rate Rider o Condominium Rider [J Second Home Rider D Balloon Rider D Planned Unit Developmcnt Rider [X] Other(s) [specify] Prepay Rider D 1-4 Family Ridcr D Biweekly Paymèl1t Rider WY01\IINC-Singk Fanlity--Fannie 1\lacŒrcd<lie 1\lac UNIFORM INSTIW1\1ENT ITEM 167BLl (0011) MFWY3112 (Puge ! oI11I'uge.\') Form 3051 1/01 4000555777 GREATlAIW" To Or"" C,1I1·800·530·9393nF"S16·791·1131 ( , O~~}l3S;81. :' !Î Of)" r-:: ,..~} v J. J (1I) "Applicable Law" means aJl controlling applicable federal, state and Joca] statutes, reguJations, ordinances and administrative rules and orders (Ihat have the effect of law) as weJl as aJl applicable final, non-appealable judicial opinions, (I) "Community Association Dues, Fees, and Assessments" means aU dues, fees, assessments and other charges thaI are imposed on Borrower or the Property by a condominium association, homeowners association or sirniJar organization, (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instnnnent, compnter, or magnetic tape so as to order, instruct, or aulhorize a financial institution to debit or credit an acconnt. Such term includes, but is not ]imited to, point-of-sale transfers, automated teUer machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers, (K) "Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, 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 destrnction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lien of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "JVIortgage Insurance" means insurance protecting Lender against the nonpayment of, or defauJt on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) "RESPA" means the Real Estate Settlement Procedures Act (12 U,S.C. §2601 et seq.) and its impJementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor Jegislation or regnlation that governs the same subject lllatter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally re]ated mortgage loan" cven if the Loan does not qualify as a "federalJy related mortgage ]oan" under RESP A. (P) "Succcssor in Interest of Borrower" means auy party that has taken title 10 the Property, whether or not that party has assumed BOITower's obligations under thc Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and aJl renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. for this puq1ose, Borrower does hereby mortgage, grant and convey to Lcnder and Lender's successors and assigns, with power of sale, the foJlowing described property located in the n .COUNTY.., [I ype 01 Recordlllg JUrlSdlctlonl of LINCOLN [Name of Recording Jurisdiction] LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF which currently has thc address of 245 CIRCLE DRIVE [Street] AFTON [City] , Wyoming 83110 [Zip Code] ("Property Address"): TOGETHER WITH aJl the improvements now or hereafter erecled on the property, and aU easements, appurtenances, and fixlures now or hereafter a part of the property. AJI replacements and additions shaJl also be covered by this Security Instrument. AIJ of the foregoing is referred to in this Security Instrument as tIle "Pruperty." WY01\JlNG-Siugle Family-Fannie 1\/aeIFreddie 1\la<- \IN/FOH1\I/NSTHU1\IENT Furm J051 1/01 4000555777 " Gn~AftAtID Ilol 1 u Order C,II 1-8iJU-'530·9~¡9:¡ II rox 616/91·113\ " (' !Î (ì '''¡ -( r::. ;,~, \.J ";).1 u ! '.' £.: ·<1 ",I C' 8'\1 U,_)LÙ~' ..L BORROWER COVENANTS that BOlTower is lawfully seised of the estate hereby conveyed and has the right to mOrlgage, grant and convey the Property and that the Property is unencl1lnbered, except for encumbrances of record. Borrower warrants and will defend generally the title to ¡he Property against all claims and demands, subject to any encumbrances of record. TIllS SECURITY INSTR! JMENT combines uniform covenants for nntional use and non-nniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. BOlTower and Lender covenant and agree as fDllows: 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 Jale chnrges due under the Note. Borrower shall also pay funds for Escrow Items pnrsuantto Section 3. l';lyments due under the Note and this Security Instrument shall be mac1e in U.S. currency. However, if any check or other instrument received by l.ender ns payment under the Note or this Security Instrument is returned to Lenckr unpaid, Lemler may reqllire I¡¡at any or all subseqnent payments due under the Note and this Security Instrument be made in one or mDre of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bnnk check, treasurer's check or cashier's check, provided auy such check is drawn upon an institution whose deposits are insured by a federal agency, illstrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the Jocation designated in Ihe Note or at such Dther location as may be designated by Lender in accordance with the uotice provisious in Section ]5. Lender rnay return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Lonn currenl, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, hut Lender is not obJigated to apply such payments at [he time such payments arc accepted. If each Periodic Payment is appJied as of its scheduled dne date, then Lender nccd not pay interest on unappJied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If BOITOWCT does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not appJied earlier, such funds will be applied to the outstanding principal balance under the Nok immediately prior to foreclosure. No offset or claim which BOJTower might have now or in the future against Lender shall relieve Borrower from making payments due umler the Note and this Security Instrument or performing the covenants and agreC:l1ìenls secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, a]] payments accepted and appJiecl by Lender sha]] be applied in the fo]]owing order of priority: (a) interest due ul1L!èr the Note; (11) principal dne under the Note; (c) amounts dne under Section 3. Such payments sha]] be applied to each Periodic Payment in the oreler in which it became due. Any remaining amounts sha]] be appJied first to late charges, second to any other amonnts dllc under this Security Instrument, and then to rednce the principal baJance of the Note, If Lender receives a payment from Borrower for a delinquent Periodic Payment which incJudes n sufficient amount to pay any late charge due, the payment may be applied to the cleJinquent payment ami the late charge. If more than one Periodic Payment is outstanding, Lemler may appJy nny payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in fuJl. To the extent that any excess exists after the payment is appJied to the fuJl payment of one or more Periodic Payments, snch excess may be applied to any Jate charges due. Voluntary prepayments shall be appJied first to any prepayrnent charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note sha]] not extend or postpone the due date, or change the amount, of the Periodic PaYJJll~nts. 3. Funds for Escrow Items. Borrower shaH pay to Lender on the day Periodic Payments arc 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 Secnrity Instrument as a Jien or encumbrance on the Propeily; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for auy and all insurance required by Lender nnder Section 5; amI (d) Mortgage Iusurauce premiums, if any, or any sums payable by Borrower to Leuder in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are ca]]ed "Escrow Items." At origination or at any time during the term of the Loan, Lencler may require that Coml1l1lnity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such cltles, fees and assessments sha]] be an Escrow Item. Borrower shan promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shaH pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Ftlnds for any or all Escrow Items. Lender may waive WYO!\IING-SiJlgle Family-Fannie J\laefFn'ddic !\[ac UNIFOR]\( INSTIUJI\IENT ITEM 1678L3 (0011) MFWY3112 (Page 3 of 11 I',,!;e.\') Form 3051 1/01 4000555777 \ Gf1EAHNID iii To Oro", CJIII·SOO·j30-9393C!FdX: 616/91-1131 1"\ ,,-) .,.', '" 58· ,.' I, .~ "") Ii \? ' .; -ti '-"'-..: ~~"-J) ..öI.. " t\ Of) 1 t·¡ ',I ..." ..,.'...J \J ~ Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any lime, Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, Ihe amounts dne for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender reCjnires, shalJ fnrnish to Lender receipts evidencing such payment within such time period as Lender may reqnire. 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 ill Section 9. If Borrower is obligated to pay Escrow Itelns direcl1y, pursnanl to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its righls under Section 9 and pay such amount and Borrower shall then be obligated ulllkr Section 9 to repay to Lender any such amount. Lender JlIay revoke the waiver as to any or all Escrol\' Items at any time by a notice given in accordance with Section 15 ami, upon such revocation, Borrower shall pay to Leuder alJ Funds, and in such amounts, that are then r..:quired uu(kr this Seêlion 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 leuder can require under RESPA. Lender shall estimate the amount of Funds due on the basis or current data and reasonable estimates of expenditures or future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an iustitution whose deposits are insured by a federal agency, instrumentality, or entity (incJuding Lender, if Lender is an institution whose deposits are so inslm:>d) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying Ihe Escrow Items, nnless Lender pays Borrower interest on the Fuuds aud Applicable Law permits Lencler to make such a charge. LJn]ess an agreement is made in writing or Applicable Law requires interest to be paid on the FllI1ds, Lender shall not be required to pay Borrower any inlêrc~st or earnings on the Funds. Borrower and lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to BOJTower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surp]us of Funds held in escrow, as defined under RESPA, Lemler shall acconnt to Borrower for the excess funds in accordance with RESPA, If there is a shortage of Funds held in escro\\', 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 month]y payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall notify 13011'o\\'er as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordanL'C with RESPA, but in no more than 12 monthly payments. Upon payment in full of aJl sums secmed by this Security Instrllment, Lender shall promptly refund to BOlTower any Funds held by Lender. 4. Charges; Liens. Borruwer shall pay all taxes, assessments, charges, fines, and impositions attributabJe to the Property which can attain priority over this Securily Instrllment, leasehold payments or ground rents on the Properly, if any, and Community Association Dues, Fees, and Assessmeuts, if any, To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3, BOI1'ower 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 ]ien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in lender's opinion operate to prevent the 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 ddermines that any part of the Property is subject to a lien which can attain priority over this Security Instrllment, Lender may give Borrower a notice identifying the hen. Within 10 clays of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of Ihe actions set forth above in this Section 4, Lenckr may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this loan, 5. Property Insurance. BOlTower 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 (inc]l1ding 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 Leuder's right to disapprove BOI1'ower's choice, which rigllt shall not be exercised unreasonabJy. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and W\'OI\IING-Sillgk Falllily--Fannic I\fae/Frcddic J\[ac lJNIFORJ\IINSTRUJ\IENT ITEM 1678L4 MFYl/Y3112 Form 3051 lIOl 4000555777 t GHEATlAND iii To O,"cr C,II: 1-800 5309393 f1 Fax 616·791·1131 .,." ..;i .....yt:"'" t).~ \)JÎ';:;J J~. 'U ~Ö JL :' !Î 0, ') 1 0 '.' d };; (j subseqnent charges each time remappings or similar changes occur which reasonably might affect such de:termination or certification. Borrower shalJ also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with tl Ie review of any flood zone de:\ennination resnlt ing from an objection by Borrower. If Borrower fails to maintain any of the coverages dC'scribed above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of cOI'erage. Therefore, such coverage shal! cover Lender, but might or might not protect BorrOlwr, Borrower's eqnity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowJcdges that the cost of the insurance coverage so obtained might significant]y exceed the cost of insurancc that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shal! become additional debt of Bon-ower secured by this Security Instrument. These amounts shal! bear inkrest at the Note: rate from the date of disbursement and shaJl be payable, with such interest, upon notice from Lender to BOITower requesting payment. AI! insurance policies required by Lender and renewals of such policies shaJl be subject to Lender's right to disapprove snch policies, shal! include a standard mort gag..: clanse, and shaJl name Lender as mortgagee and/or as an additional loss payee, Lender shaJl have the right to hold the policies and renewaJ certificates. If Lender reqnires, Borrower shal! promptly give to Lender aJl receipts of paid premiums and rene:wal notices. If Borrower obtains any form of insurance: coverage, not otherwise required by Lender, for damage to, or destructiou of, the: Property, such policy shall include a standard mortgage clause and shal1 name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lenckr. Lender luay make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance: proceeds, whether or not the underJying insurance was required by Lender, shall be applied 10 restoration or repair of the Property, if the restoration or re:pair is economically feasible and Lender's secnrity is not lessened. Durillg snch repair and restoration period, Lender shal1 have the: right to hold such insurance proceeds until Lelll!e:r has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisf';lction, provided that such inspection shan be: undertaken promptly. Lender may disburse proce:eds for the repairs and æstoration 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 shal1 not be required to pay Borrow.:!" any interest or earniugs on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shal! not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lende:r's security would be: lessene:d, the insurance proceeds shal1 be: applied to the sums secured by this Security Instrument, wh.:ther or not then due:, with the excess, if any, paid to Borrower. Such insuraucc proceeds shall be appJiecl in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and setlk any availabk insurallCl: claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to sell]e a claim, then Lender may negotiate and settle the claim. The 30-day period wil1 begin when the notice is given. In eithe:r eve:nt, or if Lender acquires the Property unde:r Section 22 or otherwise, Borrower herl'by assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any rdund of unearned prLllliums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are: applicable to the coverage: of lhe Prope:rty. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid ul1ller the Note or this Securily Instnnnent, whether or not then due. 6. Occupancy. Borrower shal1 occupy, establish, and use the Property as Borrower's principal re:sidence within 60 days after the execution of this Security Instrnme:nt and shall continue: to occupy the Property as Borroll'..:r's principal residence for at least one year afte:r the date of occupancy, unless Lendèr otherwise agrees in writing, which consènt shaH not bè unreasonably withheld, or uuless ex[(:uuating circumstances exist which are be:yond Borrower's control. 7. Prcserva1ion, 1\'aintcnance and Protec1ion of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, a]Jow the Property 10 deteriorate: or COllllllil waste on the Property. Whetlte:r or not Borrower is residing in the Property, Borrower sha]J maintain the Propèrty in ore].:r to prevent the Property from deteriorating or decreasing in value clue to its condition. Unless it is determined pursuant to Section 5 that repair or re:storation is not economically feasible, Borrower shaH promptly repair the Property if damaged to avuid further deterioration or damage. If insurance or condemnation proceeds an.: paid in counectiou with damage to, or tlte: taking of, the Property, BorrolVer shall be responsible for repairing or restoring the Prope:rty only if Le:nder has released proceeds for such purposes. Leuder may disburse proceeds for the repairs and restoration in a sing].: payment or in a series of progress payments as thè work is completed, If the insll1'ance or condemnation proceeds are not sufficient to repair or restore the Properly, Borrower is not reJieved of Borrower's obligation for the cOlllpJetion of such repair or restoration. WYOIIIING-Single FilJnily~Fannjc 1\IacfFrcddic J\lac UNIFORJ\t INSTRUJ\tENT ITEM 1678L5 (0011) MFWY3112 (P"ge 5 uf 1 J !,uge.l) Form 305! I/O 1 4000555777 t . CREATLMID III T ú O"ler C,II HOO·5309393 LI ¡E 61619111:J 1 IJ.) ,r)'Ji'";r '-;: if) ~ 7,,-... ~~~"-fIaJl., r" n ("' /) i 9 \.' ',--J );:; '.. Lender or its agent may make reasonable entries upon and inspections of tIle 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 BOlTower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lemler with material information) in connection with the Loan. Material repn~sentations include, but are not limited to, representations concerning Borrower's occnpancy of the Property as BOlTower' s principal residence. 9. Protection ot' Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (11) there is a legal proceeding that might significantly 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 abandoned the Property, then Lender Inay do and pay for whatever is reasonable or appropriate to protect Lemler's interest in the Property and rights nnder this Security Instrnment, incJuding protecting and/or assessing the value of the Property, and securing and/or repairing the Properly. Lcnder's actions can include, but are not limited 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 Instnunent, inclnding its secured position in a bankruptcy proceeding. Securing the Property inclndes, but is uot limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on nr oil. Although Lender may take action under this Section 9, Lender does not have to do so and is not umler any duty or obligation to do so. It is agreed that Lender incurs no liability for uot taking any or all actions authorized under this Section 9, Any amonnts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instfllment. 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 Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If I3O!Tower acqnires 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 Insurancc as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insnrance 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 a\HI Borrower was required to make separate]y designated payments toward the premiums for ¡vlortgage Insurance, Borrower shall pay the preminms required to obtain coverage substantially eCjnivalent to the Mortgage Insurance previous]y in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an a]lernate mortgag¡: insurer selected by Lender. If substantially equivalent Mortgage Insurancc coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to he in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss rescrve 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 coudition of making the Loan aud Borrow.::r was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to mailltain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lellder's r(;(juirement for Mortgage Insurance ends in accordance with any written agreement bdween Borrower and Lemler providing for such termination or until termination is required by Applicable Law. Nothing 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 party to the rv10rtgage Insurance, Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. Thcse 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 to make payments Llsing any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). WYOl\IING-Singk Famity-Fannie l\lac/Frcddjc l\lac ONIFOHl\t INSTIU)l\IENT ITEM 167816 1) MFWY3112 Form 3051 I/Ol 4000555777 t GREATLAtJlJ ill To Order Göll HOO!30.9J93!1 f'IX 6167911131 ('. 11 (ì t' 2· 0 I,. \) 'J ,., . c_. ""1 te:: ~-:7H' 021£0....JiO..L. As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any afJïliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or redncing 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 ten lied "captive reinsurance." Purther: (a) Any such agreements will not aITect the amounts that Borrower has agree(I 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 atIect the rights BOfl'ower has-if any-with respect to the Mortgage Insurance umIer the Homeowners Protection Act of 1998 01· any other law. These rights may indude the right to receive certain disclosures, to request and obtain cancellation of the lVIortgage Insurance, to have (he l\Iortgage Insurance terminated automatically, amVor to receive 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 Miscellaneons Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such MisCèllaneous Proceeds shaJl be applied to resturation or repair of the Property, if the restoration or repair is economically feasible and Lemler's security is no[ lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous ProCèeds until Lender has had an opportunity 10 inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as thc work is completed. Unless an agreement is madè in writing or App]icabk Law rec¡uirès inkrest to be paid on snch Miscellaneous Proceeds, Leuder shall not be required to pay 130I1'ower any interest or earnings on such MisceJlaneons Proceeds. If the restoration or repair is not economicaJly feasible or Lender's sècurity would be lessened, the Miscellaneous Proceeds shaJl bè applied to the Slllns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such MisceJlaneous Proceeds shaJl be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in va]ne of the Property, the M isceJlanèous Proceeds shall he applied to the silins secmed by this Security Instrument, whether or not then due, 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 iml11ediatdy before the partial laking, destruction, or Joss in value is equal to or greater Ihan the arnounl of the sums secured by this Security Instrumènt imll1èdiatcly before the partial taking, destruction, or loss in value, unless 130!Tl)\ver and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the all10unt of the Miscdlaneous Proceeds mnltiplièd by the foJlowing fraction: (a) the total amount of the sums secured imll1ediately before the partial taking, destruction, or loss in value divided by (b) the fair market va]ue of the Propcrty imll1ediatdy before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the ewnt of a partial taking, destruction, or loss in value of the Property in which the fair markct value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the stnns sccured immediately beforè the partia] taking, destruction, or loss in va]ue, nnless Borrower and Lellder otherwise agrce in writing, [he Misce] ¡lI1èOUS Proceeds shall be appJièd to thè sums secured by this Security lnslnnnent whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice hy Lender 10 Borrower that the Opposing Party (as defined in the nèxt sentence) offers to make an award to settle a clailll for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Leuder is authorized to collect and apply the Miscellaneous Proceeds eithcr to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or 1101 thclI dne. "Opposing Party" meaus the third party that owes Borrower MisceJlaneous Proceeds or the party against whom ßorrower has a right of action in règard to Miscellaneous Proceeds. Borrower shaJl be in default if any action or proceeding, whclher civil or crimina], is begun that, in Lender's judgment, cou]d resnlt in forfeiture of the Property or other material impairment of Lènder's interest in the Property or rights under this Security Instrument. Bon"ower can cure such a defauJt and, if accderation has occurred, reinstall: as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's jndgmènt, precludes forfeiture of the Property or other materia] impairment of Lenckr's inteæst in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attrihntablc to the impairment of Lenckr's interest in the Property are hereby assigl1èd and shall bè paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the' order provided for in Section 2. WY01\JlNC-Singk Famity-Fannie J\lae/Fre¡]¡]je J\(ac ONIFOH!\I INSTIHJJ\IENT IIEM16787L7(0011) MFWY3112 (J'uge 7 (1 J J I'''gel) Furm 3U51 1/U1 4000555777 t GHEAlLAND iii T u Or"" Coil 1· 800·030·9393 rH" 616- ì91·1131 .}, ..:::').. ·¡i"'ì¡ ~Jq'0 '-11~ ~''U''\.4J''''-d¿ r' n 0, f) 1") -¡¡ '., d ).).(...iI. 12. Borrower Not Released; Forhearance By Lender Not a '''aiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrmnent granted by Lenckr to Borrower or any Successor in Iuterest of Borrower sha1l not operate to re1ease the liability of Borrower or any Successors in Interest of Borrower. Lender shaJJ not be reqnired 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 BOlTower or any Successors in Interest of Borrower. Any forbearauce by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, cntities or Successors in Interest of Borrower or in amounts less than the amount then due, shaJJ not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liahility; Co-signers; Successors and Assigns Bound. Borrower covenauts and agrees that Borrower's obligatious and liability shall be joint and severaL However, any Borrower who co-signs this Security Inslrllment but does not execute the Note (a "co-signer"): (a) is co-signing this 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 Instrllment; and (c) agrees that Lender and any other Gorrower can agree to extend, modify, forbear or make any accoml1lodations with regard to the terms of this Security Instrllment 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 undcr this Security Instrlll1leut in writing, and is approved by Lender, sha1l obtain all of Borrower's rights and bcnefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge BOlTower fees for services performed in connection with Borrower's default, for the pnrpose 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 Borrower shalJ 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 Jaw which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges colJected or to be colJected 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 limit; and (b) any sums already collected from Borrower which exceeded permittecJ limits wi]] be refunded to Borrower. Lemler may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refnnd reduces principal, the reduction wilJ be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Bon'ower's acceptance of any such refund made by direct payment to BOlTower wilJ constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. Allnolices given by Borrower or Lender in connection 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 BOITower when mailed by first cJass mail or when actualJy delivered to Borrower's notice address if sent by other means, Notice to anyone Borrower shalJ constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lemler. Borrower shall promptly notify Lender of Borrower's change of address, If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shalJ 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 sha]1 be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another acldress by notice to Borrower. Any notice in connection with this Security Instnlment shall not be deemed to have been given to Lemler nntil 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 requirement under this Secnrity Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by fedcral law and the ]aw of the jurisdiction in which the Property is located, All rights and obligations contained in this Security Inslnnnent are subject to any requircments and limitations of Applicabk Law. Applicable Law might expJicitly or impJicitly 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 cJause of this Security Instrument or the Note connicts with Applicable Law, snch conflict shall not affect other provisions of this Security Instrumcnt or the Note which can be given effect without the conflicting provision. WYOl\nNG-Sillgte famity-Fannie l\lacl1'rcddic l\lac lJNIFORJ\I INSTIHJl\lENT 12 Form 3051 I/O! 4000555777.1 GI1EATlAlm iii To Order CJII H004530·9393 ¡-I FoX: 616· 791·1131 ",;' ,·I..r: ~~'7>/r'11;J, Ü~j)JLJ)~U~ r· n (J, () (.~ 0 '.- u. J 'C'-' ~'" As nsed in this Security Instrument: (a) words of the masculine gender shalJ mean and include corresponding neutèr words or words of the feminine gender; (b) words in the singular shall mean and incJuck the plural and viCè versa; and (c) the word "may" gives sole discretion withont any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As nsed in this Section ] 8, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transfelTed in a bond for deed, contract for deed, insta]]ment sales contract or escrow agreement, the intent of which is the transfer of title by BOITo\Ver at a fnture date to a purchaser. If alJ or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natura] person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written conscnt, Lender may require immediate payment in fulJ of a]] snms secured by ¡his Security Instrument. However, this option sha]] not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lemler exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 clays from the date the notice is given in accordance with Section 15 within which Borrower must pay all snms secured by this Security Instrnment. If BOITower fails to pay these sums prior to the expiration of this period, Lender llIay invoke any remedies permitted by this Security Instrument without 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 10 the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as App]icable Law might specify for the termination of BOlTower's right to kinslate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that BOlTower: (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 Instrurncnt, including, but not limited to, reasonable attomeys' fees, property inspection and valuation fees, and olher fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably reCjllire to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrnment, shalJ continue unchanged. Lender IlIay require that Borrower pay snch reinstatement sums and expenses in one or more of the following forms, as selected by Lemler: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any snch check is drawn npon an institution whose deposits are insured by a federal agency, instTnmentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrnment and obligations secured hereby shall remain fulJy effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Sèclion 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partiaJ interest in the Note (together with this Security Instrument) can be so]d one or more times without prior notice (0 BOITower. A sale might resnlt in a change in the entity (known as the "Loan Servicer") that colkcts Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obJigations umler the Note, this Security Instmment, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a saIe of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which 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 Ihe Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to BOITower will remain with the Loan ServiceI' or be transferred to a successor Loan Servicer and are not assnmed by the Note purchaser unkss otherwise provided by the Note purchaser. Neither Borrower 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 Instnnnent or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Sèction ]5) of such alleged breach ane! afforded the other party hereto a reasonable period after the giving of such Ilotice to take corrective action. If Applicable Law provides a time period which llIust eJapse 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 opportuuity to cure given to Borrower pursnant to Section 22 and the notice of acceleration given to Borrower pursnallt to Section ]8 sha!] be deemed to satisfy [he notice and opportunity to take corrective action provisions of this Section 20. WYOJ\/lNG-Singte Famity Fannie J\lac/Frcddic J\lac TlNIFORJ\IINSTHTlJ\lENT I rEM 1676L9 (0011) fV1FWY3112 (I'uge () (~/lll'''ge.'') Form 3051 J/Ol 4000555777 t GIIEATLANO III Tu üroer Calli ~öOO"3ü·9393 [J rJX [>16· 791·1131 " ,.r) ·¡--,'8' ,~·,~,1 ,'. '1~11 ,/ "-. ,., ,~. 'G',-~~ ..:.~U-..JJ .wr:..;;, r· Î "" ,'"' C' ("' , !, { '.J' . .{ '.. 'I J {.... V 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 Enviromnenlal Law anelthe following substauces: gaso]iue, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Enviromnenta] 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 an Environmenta] Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or rekase of any IIazanlous Substances, or threaten to release any Hazardous Substanœs, on or in the Property. Borrower shall not do, nor allow anyone c1se 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 sentenœs shall not apply to the presence, use, or storage on the Property of small quantities of Hazardons Substances that are gellèralJy recognized to be appropriate to normal residential uses and to maintenanœ of the Property (including, but notlÎ1nited to, hazardous substances iu conSllmer products). Bon'ower shall promptly give Lemler written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory 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 spi1ling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) allY condition caused by the 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 authority, or any private party, that any removal or other rcmediation of any Hazardous Substance affecting the Property is II<XeSsary, Borrower sha]J promptly take all necessary remedial actions in accordance wilh 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 fo]Jows: 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 notice is given to Borrower, by which the default must be cured; and (d) that failure 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. Lemler shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of titIe evidence. II' Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if dif1'erent, in accordance with Applicable 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 prescribed 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, induding, 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 a]J stnns secmed by this Security Instrument, Lender shall release this Security InstrtIment. Borrower sha]J pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrnment, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicab]e Law. 24. '''aivers. Borrower releases and waives a]J rights under and by virtue of the homcstead exemption laws of vVyoming. WYOl\IING-Single foamily--Fannic l\lac/Frcddic J\lac UNIFOHl\! INST]Wl\IENT ITEM 1678L10 HpWY3112 (/\lge 4000555777 } To Oruer CJII. l·eCJU ' Form 305t 1/01 GREATLMIU 1/ 11F" 616·791·1131 ..('" ..~;'('·";A~ ""'11'I~at¡ Uí2:.lb~~ --- (' n r. '.... t.' .II \., U U .j /.J '1 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in pages 1 through II of this Security Instrument and in any Rider executed by Borrower and recorc!ècl with it. c--~ U~ ~ ' N -- ---''':-... IC'N-J'... -- ." .1.~ "- . DAN L. ASHMENT \ (Seal) ·[jorrOWèf M&' ~~. A'4t.-4HU+l-I DEBRA J. ASbJ ENT (Seal) -Borrower (Seal) - Borrower (Seal) ·Borrower (Seal) -Borrower (Seal) -Borrower Witness: Witness: S,"fe of WyeffiÌA¡¡- A?; C f[JW~0 ') County of tìí\(~/V i ¿.0r1Jl ) ) ss ) The foregoing instrument was acknowledged before me by DAN L. ASHMENT, DEBRA J. ASHMENT this {)f¡a~aY of /l)~ V ,- ~(!){)e) \Vitness my hand and official seal. ;" //,) ~M~¿-r Notary Public ...-'--'''''''''''''''''-J''-''''''' OFFICIAL SE~L DANA M, RUSTAN NOTARY PUBLIC, S.T ATE. 0. fAR IZ ON. .' ... .. MARICOPA COUNTY My Ccm,". E,pl,,, May.13:.200ß, ,.' ~~~¿z¡¿;.;ø~~;:<..o~~ rvry commission expires: :'Vl¿Ji?!)tJ~ WYOJ\IING-SilJgle family-Fannie J\laelFrcd¡lie J\lac l1NIFOIlI\IINSTlWJ\IENT ITEM 1676Ll1 (0011) tv1FWY3112 (f'uge 11 of II puges) Form 3051 1/01 4000555777 ~ GREATlAtIO To Order C,II. HOù·o~O-9393 [] Fox, 616· 79 1-1131 '¡', ,") 5" iCì " u;::J1L'~1 'tj)L !Î 01') f'1 r.::' ~: ) ,) l~ J LEGAL DESCRIPTION Lot 31 of Westview Village Subdivision¡ Lincoln County¡ Wyoming as described on the official plat thereof. 4 t r· !-~ n f) '. f"\. , ,I. '0 '.' " l} oj ¡.:. <' ! <1'1',1 ",'I l:;if:)1! ......)' ...~, ~L;,~ '4I\..J ~ ADJUSTABLE RAl'E RIDER (LInOR 6 Month Index (As Published In The WalI Street Journal) - Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 1 st day of November 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 BOlTower's Adjustable Rate Note (the "Note") to FIRST FRANKLIN A DIVISION OF NAT. CITY BANK OF IN (the "Lender") of the same date and covering the property described in the Security Instrument and ]ocated at: 245 CIRCLE DRIVE AFTON, WY 83110 [Properly Addre"s] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANCES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TI1\IE AND THE lVIAXI1\IUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as folJows: A. INTEREST RATE AND MONTHLY PA Yl\lENT CHANGES The Note provides for an initial interest rate of 6.8750 %. The Note provides for changes in the interest rate and the monthly payments, as folJows: 4. INTEREST RATE AND MONTHLY PA YI\IENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of December 2007 and on that day every 6th month thereafter. Each dale on which m)' interest rale could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate wilJ be based on an Index. The "Index" is the average of interbank offered rates for 6 month U.S. dolJar-denominated deposits in the London market ("LIBOR"), as published in The \Vall Street Journal. The most recent Index figure avai]able as of the first business day of the month immediately preceding the month in which the Change Date occurs is calJed the "Current Index." If the Index is no Jonger available, the Note Holder wilJ choose a new index that is based upon comparabJe information. The Note Holder wilJ give me notice of this choice. (C) Calculatiou of Changes Before each Change Date, the Note Holder will caJculate my new interest rate by adding Five and One Quarter percentage points ( 5.2500 %) to the Current Index. The Note HoJder win then round the resuJt of this addition to the nearest one-eighth of one percentage point (O.125'!c:i). 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 ADJlJSTABLE RATE RIDER·LIBOR 6 J\IONTII INDEX (AS PUBLlSIIED IN TilE WALL STREET JOURNAL) -- Single Family ITEM 54074L 1 (C5751L) (9910) MFCD6053 (Page 1 of 3 pages) 4000555777 GREATLAND .. T ú Oluer Call: J.800-530-9393 ITax 616-791-1131 \ ", .... ·1 "-, '-\i.:.ì·1 \L!J2iL0\5iò:l r (. ì ("'I ':¡' r..~ ~"':I '.. 'J ...J.f..., ¡ The Note Ho]der wiJI then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in fu]] on the Maturity Date at my new interest rate in substantia]]y equal payments. The result of this calculation wi]] be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date wi]] not be greater than 9.8750% or less than 6.8750 %. Thereafter, my interest rate wi]] never be increased or decreased on any single Change Date by more than One percentage point(s) ( 1.0000 %) from the rate of interest I have been paying for the preceding 6 months; subject to the following limits: My interest rate wi]] never be greater than 12.8750 %, nor Jess than 6.8750 %. (E) Ef/"ective Date of Changes My new interest rate wi]] become effective on each Change Date. I wi ] pay the amoLlnt 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 wi]] 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 Jaw to be given me and also the telephone number of a person who wi ] answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as fo]]ows: TI'ansfer of the Propel'ty or a Beneficial Intel'est in Borrower. If a ] or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transFerred and BOITower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all SlnJ1S secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. 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 wi ] not be impaired by the Joan 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 appJicable law, Lender may charge a reasonable fee as a condition to Lender's consent to the Joan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obJigates the transferee to keep a ] the promises and agreements made in the Note and in this Security Instrument. Borrower win 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 fu]], Lender shall give Borrower notice of acceleration. The notice sha]] provide a period of not Jess than 30 days from the date the notice is delivered or mailed within which Bon-ower must pay all SUInS secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of tltis period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. ITEM 54074L2 (C5751L) (9910) MFCD6053 (PI/lie 2 of3 ¡¡age» 4000555777 GREATL.~ND II To Oroer Call 1-BOO~530-9393 ITax 616-791-1131 .~ l (' .') n I) n 8 "" ',) \ ., / ., -' U ,L-J " I'I,-i' -c" __1'1 "'. .l'~:j~; ì ,\" '-Y,-_I,~<u'i.JJ~...t.. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in pages 1 through 3 of this Adjustable Rate Rider. ~ ~~ ,~~, ,~ ~"'<- . ,\~~,->,-=:::S, DAN L. ASHMENT (Seal) -Borrower ~j¿¿;t C7 /Id~yt/-V- DEBRA J. ASHMENT (Seal) -Borrowcr (Seal) - Borrower (Seal) . Borrower .(Seal) - Borrower (Seal) - Borrowcr [Sigll Original Dilly] MFCD6053 5407413 4000555777 (Page 3 (13 pages) ,. . "1 "j 1L;,8 '.t ô~-,:,JJ~.I~~ : n n ~:3 ~~~ 9 PREPAYMENT RIDER This Prepayment Rider is made this 1 st day of November 2005 , and is incorporated into and shall be deemed to amend and supplement the MOligage, Deed of Trust or the Security Deed (the "Security Instmment") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note (the "Note") to FIRST FRANKLIN A DIVISION OF NAT. CITY BAN~: OF IN (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 245 CIRCLE DRIVE AFTON, WY 83110 ADDITIONAL COVENANTS. In addition to the covenants and agreements made 111 the Security instrument, Borrower and Lender further covenant and agree as follows: Borrower can make a partial prepayment at anytime without paying any charge. Borrower may make a [1.111 prepayment at any time subject to a prepayment charge as follows: Ifwithin the first 24 months after the date Borrower executes the Note, BOITower makes a full prepayment (including prepayments occulTing as a result of the acceleration of the maturity of the Note), BOITower must, as a condition precedent to a full prepayment, pay a prepayment charge on any amount prepaid in any I2 month period in excess of 20'% of the unpaid balance. The prepayment charge will equal the interest that viOuld accme during a six-month period on the Excess Principal calculated at the rate of interest in effect under the tenus of the Note at the time of the full prepayment. NOTICE TO BORROWER Do not sign this loan agreement before you read it. This loan agreement provides for the payment of a penalty if you wish to repay the loan prior to the date provided for repayment in the loan agreement. BY SIGNING BELOW, BOITower accepts and agrees to the tenns and covenants contained in this Prepayment Rider. ~'" ~ ~ ~ ,~~ _..- .~) ~" -~~'¿;~'~-.J<.~:':'f<.:~ DAN L. ASHMENT (Seal) -BolTower ß;J4~! f2~L~f¿/¡;1¿?-YL-/cseal) DEBRA J. ASI¡;IMENT -BOll ower (Seal) -BoITower .(Seal) -BOJTOWer (Seal) -BoITower (Seal) -Borrower Adjustnble Rail" Prepayment Rider - First Licn - AI(, AI., AZ, CA, CO, CT, DC, DE, FI., GA, III, lA, ID, KS, 1.:\, I\IA, I\ID, I\IN, I\IT, N ), NE, Nil, N.J, NI\I, N\', NY, OK, OR, I'A, RI, SC, SD, TN, TX, UT, VA, VT, \VA, WY MFCD6028 FF003210 4000555777 l