HomeMy WebLinkAbout913755
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WHEN RECORDED MArL TO:
OPTION ONE MORTGAGE CORPORATION
P . O. BOX 57096
IRVINE, CA 92619-7096
ATTN: RECORDS ~~NAGEMENT
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Loan Number: 321030810
Servicing Number: 001989075-5
RECEIVED 11/16/2005 at 4:14 PM
RECEIVING # 913755
BOOK: 605 PAGE: 3
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Above Thi~ Liue For Recording Datal
MORTGAGE
Tl-IlS MORTGAGE ("Security Instrument") is given on
THOMAS JOHN ROBINSON, as Sole ÜI,vner "IJI{
November 10, 2005
. The mortgagor is
("Borrower"). This Security Instrument is given to
Option One Mortgage Corporation, a California Corporation
which is organized and existing under the laws of CALI FORN IA , and whose address is
3 Ada, Irvine, CA 92618
("Lender"). Borrower owes Lender the principal sum of
ONE HUNDRED FORTY SIX THOUSAND THREE HUNDRED
.. ,AND NOj100THs DoJlars(U.S. $146,300.00 ).
This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly
payments, with the full debt, if not paid earlier, due and payable on December 01, 2035 . This Security
Instrument secures to Lender: (a) the repayment of the debt evidenced by ù1e Note, wiù1 interest, and all renewa]s, extensions and
moditications of Ù1e Note; (b) the payment of all other snms, wiù1 interest, advanced under paragraph 7 to protect Ù1e security of
ù1is Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the
Note. For this purpose, Borrower does hereby mortgage, grant, convey and warrant to Lender, with power of sale, the following
described property located in Lincoln County, Wyoming:
32192540101700
SEE LEGAL DESCRIPTION ATTACHED HERETO AND fVI.Þ.DE A PART THEREOF.
"1
which has the address of
Wyoming
83110-9759
[Zip Code]
40 W 2ND AVE, AFTON
("Property Address");
[Slreet, Cily J.
TOGETHER WITH a]] ù1e improvements now or hereafter erected on the property, and all easements, appurtenances, and
tïxtllres now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument.
All of ù1e foregoing is referred to in ù1Ís Security Instrument as ù1e "Property."
BORROWER COVENANTS that Borrower is ]awfuJly seised 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. Borrower warrants and
will defend generally the title to the Property against a]] claims and demands, subject to any encumbrances of record.
COVENANTS. Borrower and Lender covenant and agree as fo)]ows:
]. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal
of amI interest 011 ùle debt evidenced by Ù1e Note and any prepayment and late charges due under the Note.
2. Funds for Taxes and Insurance. Subject to applicable law or to a writteIl waiver by Lender, Borrower sha)] pay to
WYOMING - Single Family
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WYD100J I (06-23-9g)
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Loan Number: 321030810
Servicing Number: 001989075 - 5
Date: 11/10/05
Lender on the day monthly payments are due uncler the Note, until the Note is paid in fulJ, a sum ("Funds") for: (a) yearly taxes
and assessments which may attain priority over this Security Instrument as a lien all the Property; (b) yearly leasehold payments
or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly Hood insurance premiums,
if any; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the
provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items." Lender
may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related mortgage
loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from
time to time, 12 use. Section 2601 et seq. ("RESPA"), uuless anoùler law that applies to Ù1e Funds sets a lesser amount. If so,
Lender may, at any time, collect and hold Funds in an amount not to exceed ùle lesser amount. Lender may 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 wiù1 applicable law.
The Funds shall be hdd in an institution whose deposits are insured by a federal agency, instrumèntality, or èntity
(including Lendèr, if Lender is such an institution) or in any Fedaal Home Loan Bank. Lendèr shall apply thè Funds to pay ùle
Escrow Hems. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or
vèrifying thè Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such
a charge. However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service L¡sed
by Lender in connection with this loan, unless applicable law provides otllerwise. Unless an agreement is made or applicable law
requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and
Lender may agree in writing, however, that interest shall be paid on Ùle Funds. Lender shall give to Borrower, witJlOut charge,
an annual accounting of the Funds, showing credits and debits to the Funds and Ùle purpose for which each debit to the Funds was
made. The Funds are pledged as additional security for all sums secured by this Security Instrument.
If the Funds held by Lender exceed the amounts permittèd to be hdd by applicable law, Lender shall account to Borrower
for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lendc:r at any time
is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrowc:r shall
pay to Lender the amount necessary to make up the deticiency. Borrower shall make up the deììciency in no more than twdve
monthly payments, at Lender's sole discretioll.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds
held by Lender. If, under paragraph 21, Lender shall acquire or sell (he Property, Lender, priur to the acquisition or sale of the
Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sUlns secured by this
Security Instrument.
3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lenckr under paragraphs
I and 2 shall be applied: tirst, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third,
to interest due; fourth, to principal due; and last, to any late charges due under the Note.
4. Olarges; Liens. Borrower shall pay all taxes, assessments, charges, tines and impositions attributable to the Property
which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay Ùlese
obligations in the manner providèd in paragraph 2, or if not paid in that manner, Borrower shaU pay them on time directly to the
person owed payment. Borrower shall promptly furnish to Lender aU notices of amounts to be paid unda this paragraph. If
Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidèncing the payments.
Borrower shall promptly discharge any lien which has priority over this Security Instmment unless Borrower: (a) agrees
in writing to ù1e payment of ùle obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien
by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
enforcement of ÙIe lien; or (c) secures from the holder of the lien an agreemènt satisfactory to Lender subordinating the lien to this
Security Instmment. If Lender determines that any part of the Property is subject to a lien which may attain priority over this
Security Instmment, Lender may give Borrower a notice identifying Ùle lien. Borrower shall satisfy the lien or take one or more
of the actions set forth above within 10 days of the giving of notice.
5. Hazard Of Property Insurance. Borrower shall keep Ùle improvements now existing or hereafter erected on the Property
insured against loss by tìre, hazards included within Ùle term "extènded coverage" and any other hazards, including f100ds or
f1ooding, for which Lender requires insUl~ll1ce. This insurance shall be maintained in the amounts and for (hè periods that Lender
requires. The insurance carrier providing tIle insurance shall be chosen by Borrower subject to Lender's approval which shall not
be unreasonably withheld. If Borrower fails to maintain coverage described ahove, Lender may, at Lender's option, obtain covaage
to protect Lender's rights in the Property in accordance with paragraph 7.
All iusuranœ policies and renewals shall be acceptable to Lender and shall include a standard mortgagè clause. Lender shall
have the right to hold the policies and renewals. If Lender requires, Borrowèr shall promptly give to Lender all receipts of paid
premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lendèl'. Lender
may make proof of loss if not made promptly by Borrower.
Unless Lender and Borrower otllerwise agree in writing, or applicable Law otherwise requires, insurance proceeds shall
be appJied tìrst to reimburse Lender for costs and expenses incurred in connection with obtaining any such insurance proCèeds, ancl
theu, at Lender's option, in such order and proportion as Lender may determine in its sole and absolute discretion, and regardlèss
of any impain1lèIJt of security or lack thereof: (i) to ùle snms secured by ùIis Security Instrument, whether or not then due, and
to such compol1ènts thereof as Lender m:1Y determine in its sole and absolute discretion; and/or (ii) to Borrower to pay the costs
and expenses of necessary repairs or restoration of the Property to a condition satisfactory to Lender. If Borrower abaIJdons the
Propèrty, or does not answer within 30 days a notice from Lender that ÙJe insurance carrier has offered to settle a claim, Lender
n1ilY collect Ùle insurance proceeds. Lender may, in its sole and absolute discretion, and regardless of any impairment of security
or lack thereof, use the proceeds to repair or restore Ù1e Property or to pay the sums secured by this Security Instrument, whether
or not Ùlen due. The 3D-day period will begin when the notice is given.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
postpone the due elate of Ùle monù¡ly payments referred to in paragraphs I and 2 or change Ùle amount of the payments. If uncler
paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds rèsulting from damage
to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security InstIllment immediately
prior to the acquisition.
If Borrower obtains earthquake insurance, any other hazard insurance, or any other insurance on the Property and such
insurance is not specitìcally required by Lenckr, then such insurance shall (i) name Lender as loss payee thereunder, and (ii) be
subject to the provisions of this paragraph 5.
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Loau Number: 321030810
Servicing N umbçr: 001989075 - 5
Date: 11 / 10/ Or5. n :": r¡ 5
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6. Occupancy, Preservatjon, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
Borrower acknowledges that Ùle Lender does not desire to make a loan to Borrower secured by ùlis property on Ùle terms contained
in Ùle Note unless the property is to be occupied by Borrower as Borrower's primary/secondary residence. Lender makes non-
owner residence loans of different terms. Borrower promises and assures Lender that Borrower intends to occupy this property as
Borrower's primary/secondary residence and that Borrower will so occupy ù1Ís property as its sole primary/secondary residence
within sixty (60) days after Ùle date of the Security Instillment. If Borrower breaches ùlis promise to occupy the property as
Borrower's primary/secondary residence, then Lender may invoke any of Ùle following remedies, in addition to Ùle remedies
provided in the Security Instrument; (I) Declare all sums secured by the Security Instrument due and payable and foreclose Ùle
Security Instrument, (2) Decrease Ùle term of Ùle loan and adjust the monÙl]y payments under the Note according]y, increase the
interest rate and adjust Ùle monthly payments under the Note accordingly, or (3) require that Ùle principal ba]ance be reduced to
a percentage of eiÙler the original purchase price or the appraised value then being offered on non-owner occupied loans.
Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the
Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or crimina], is begun that in Lender's
good faith judgment could result in forfeiture of the Property or otherwise materialJy impair the lien created by this Security
Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing
the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the
Borrower's interest in Ùle Property or oÙler material impairment of the lit:n created by this Security Instrument or Lender's security
interest. Borrower shall also be in default if Borrower, during the loan application process, gave materialJy false or inaccurate
information or statements to Lender (or failed to provide Lender with any material information) in connection \ViÙl Ùle loan
evidenced by Ùle Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal
residence. If ùlis Security Instillment is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower
acquires fee title to the Property, the ]easeho]d and the fee title shall not merge unless Lender agrees to the merger in writing.
Borrower shall, at Borrower's own expense, appear in and defend any action or proceeding purporting to affect the Property
or any portion thereof or Borrower's title thereto. the validity or priority of the lien created by this Security Instrument. or the rights
or powers of Lender with respect to this Security Instrument or Ùle Property. All causes of action of Borrower. whether accrued
before or after the date of this Security Instillment, for damage or injury to the Property or any part thereof, or in connection with
any transactiou tinanced in whole or in part by the proceeds of the Note or any other note secured by ùlis Security Instrument, by
Lender, or in connection with or affecting the Property or any part thereof, including causes of action arising in tort or contract
and causes of action for fraud or concealment of a material fact, are. at Lender's option, assigned to Lender. and the proceeds
thereof shall be paid directly to Lender who, after deducting therefrom all its expenses, including reasonable attorneys' fees, may
apply such proceeds to the sums secured by ù¡is Security Instnullent or to any deticiency under this Security Instnullent or may
release any monies so received by it or any part ùlereof, as Lender may elect. Lender may, at its option, appear in and prosecute
in its own name any action or proceeding to enforce any such cause of action and may make any compromise or settlement thereof.
Borrower agrees to execute such further assignments and any other instruments as from time to time may be necessary to effectuate
the foregoing provisions and as Lender shall request.
7. Protection of Lender's Rights ill the Property. If Borrower fails to perform the covenants and agreements contained in
this Secority Instillment, or there is a legal proceeding that may signiticantly affect Lender's rights in the Property (such as a
proceeding in bankmptcy, probate, for condemnation or forfeiture or to enforce laws or regu]ations). then Lender n1;;IY do and pay
for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include
paying any sums secured by a lien which has priority over this Security Instrument, appearing in court. paying reasonable attorneys'
fees and entering on the Property to make repairs. AIÙlOUgh Lender 111;;1)' take action under ù¡is paragraph 7, Lender does not have
to do so.
Any amounts disbursed by Lender under ù¡is paragraph 7 shall become additional debt of Borrower secured by this Security
Instrument. Unless Borrower and Lender agree to oÙler terms of payment. these amounts shall bear interest from the date of
disbursement at the Note rate in effect from time to time and shall be payable, with interest, upon notice from Lender to Borrower
requesting payment.
8, Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by ùlis Security
Instrument, Borrower shall pay the premiums required to maintain Ùle mortgage insurance in effect. If, for any reason, the mortgage
insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage
substantially equivaleut to the Jllortgage 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 approved by Lender. If substantially equivalent
mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly
mortgage insurance premiuJll being paid hy Borrower when the insurance coverage lapsed or ceased to be in effect. Lender will
accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be
required. at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided
by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain
mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance WiÙl
any written agreement between Borrower and Lender or applicable ]aw.
9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
Borrower notice at ùle time of or prior to an inspection specifying reasonable cause for the inspection.
10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of any part of the Property, or for conveyance ill lieu of condemnation, are hereby assigned and shall
be paid to Lender. Lender Imy apply, use or release the condemnation proceeds ill Ù¡e same manuer as provided in paragraph 5
hereof wiùl respect to insurance proceeds.
If Ùle Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damages, Borrower fails to respond to Lender within30 days after the date the notice is given, Lender
is auùlOrized to collect and apply Ùle proceeds, at its option, eiÙler to restoration or œpair of the Property or to the sums secured
by this Security Instrument, whether or not then due.
UJùess Lender and Borrower oÙlerwise agree in writing, any application of proceeds to principal shall not extend or
postpone the due date of Ùle monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
11. Borrower Not Released; Forbeaf'mcc By Lender Not a Waiver. Extension of Ù¡e time for payment or moditication of
amortization of the stuns secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
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Loan Number: 321030810
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not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to
commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of
the SllIl1S secured by this Security Instl1lment by reason of any demand made by the original Borrower or Borrower's successors
in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any
tight or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; OJ-signers. The covenants and agreements of this Security
Instrument shall bind and benetit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17.
Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instl11tJlent but does not
execute the Note: (a) is co-sig¡ùng this Security Instrument only to mortgage, grant and convey that Borrower'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 may agree to extend, modify, forbear or make any accommodations
with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
13. Loan Olarges. If tIle loan secured by tIJis Security Instrument is subject to a Jaw which sets maximum loan charges,
and tI1at law is tinally inteq)reted so that the interest or other loan charges colJected 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 limit; and (b) any sUlns already collected from Borrowa which exceeded permitted limits wi]] be refunded to Borrower.
Lender may choose to make tI1Ìs refund by reducing the principal owed under tlte Note or by making a direct payment to Borrower.
If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note.
14, Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
it by tirst class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or
any other address Borrower designates by notice to Lender. Any notice to Lemler sha]] be giveJl by tirst class mail to Lender's
address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security
Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
15. Goveruiug Law; Severability. This Security Instl1lment shall be governed by federal law and the Jaw of the jurisdiction
in which the Property is located. In the evell( that any provision or clause of this Security Instnnnent or the Note contlicts with
applicable law, such contlict shall not affect otIler provisions of this Security Instrument or the Note which can be given effect
without the cont1icting provision. To tI1Ìs end the provisions of this Security Instrument and the Note are declared to be severable.
16. Bmf(}wer's OJPY. Borrower shall be given one couformed copy of tIle Note and of this Security Instmment.
17. Trall';fer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is
sold or transferred (or if a beneticial interest in Borrower is sold or transferred aJld Borrower is not a natural person) without
Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security
Instrument. However, tIÚs option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this
Securi ty Instrument.
If Lender exercises this option, Lender shall give Borrower notice of accderation. The notice sha]] provide a period of not
less tIlan 30 days from the date tIle notice is deli vered or mailed witIlÌn whiclt Borrower must pay a]] StilUS secured by this Security
Instrument. If Borrower ÜlÌls to pay tIlese sums prior to the expiration of tItis period, Lender may jnvoke any remedies permitted
by this Security Instrument without further Jlotice or demand on Borrower.
18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement
of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may
specify for reinstatement) before sale of the Property pursuant to any power of sale contained iJl this Security Instrument; or (b)
entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all Stllns 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 tIlis Security Instmment, including, but not limited to,
reasonable attorneys' fees; and (d) takes such action as Lender lIlay reasonably require to assure that the lien of this Security
Instnnnent, Lemler's rights in the Property and Borrower's obligation to pay tIle sums secured by this Security fnstnllnent shall
continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shaH remain fuHy
effective as if no acceJeration had occurred. However, this right to reinstate shall not apply in the case of acceleration under
paragraph 17.
19. SaIe of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Secnrity
Instrnment) may be sold one or more times without prior notice to Borrower. A sale may result in a change in tIle entity (known
as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument. There also may be one
or more changes of the Loan Servicer unrelated to a sale of the Note, If there is a change of the Loan Servicer, Borrower wiH be
given written notice of the change in accordance with paragraph 14 above and applicable law. The notice wiH state the name and
address of the new Loan ServiceI' and the address to which payments shou]d be made. The notice will also contain any other
information required by applicable law. The holder of tIle Note and this Security Instrument shall be deemed to be the Lender
hereunder.
20, Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or reJease of any
Hazardous Substances on or jn the Property. l3orrower shaH not do, nor allow anyone eJse to do, anytI1Ïng affecting the Property
that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the
Property of small quantities of Hazardous Substances that are generaUy recognized to be appropriate to normal residential uses and
to maintenance of the Property.
Borrower shall promptly give Lender written notice of 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. If Borrower learns, or is notified by any governmental or regulatory aUùlOrity, that any
removal or otIler remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
necessary remedial actions in accordance with Environmental Law.
Borrower shall be solely responsible for, shall indemnify, defend and hold harmless Lender, its directors, oftìcers,
employees, attorneys, agents, and tIleir respective successors and assigns, from and against any and all claims, demands, causes
of action, loss, damage, cost (including actual attorneys' fees and court costs and cO';ts of any required or necessary repair, cleanup
or detoxiticatiollof the Property and the preparation and implementation of any closure, abatement, containment, remedial or otIler
required plan), expenses and liability directly or indirectly arising out of or attributable to (a) the use, generation, storage, release,
threatened release, discharge, disposal, abatement or presence of Hazardous Substances on, under or about the Property, (b) the
transport to or from the Property of any Hazardous Substances, (c) the violation of any Hazardous Substances law, and (d) any
Hazardous Substances claims.
Page 4 ()[ 6 WYD100l4 (()(i-23-9S)
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Loan Number: 321030810
Servicing Number: 001989075-5
r, ì (' ., r t"1
Date: 11/10/q,5(,. \.: ':J' U /
As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
Environmental Law and the following substances: gasoline, kerosene, other tlammable or toxic petroleum products, toxic pesticides
and herbicides, volatile solvents, materials containing asbestos or formaJdehyde, and radioactive materials. As used in this paragraph
20, "Environmental Law" means federal laws and laws of the jurisdiction where tl1e Property is located that relate to health, safety
or enviromnental protection.
ADDITIONAL COVENANTS. Borrower and Lender further covenant and agree as follows:
21. Acceleration; Remedies. If any iIL"tallment mlder the Note or notes secured hereby is not paid when due, or i fBorrower
should be in default under any provision of this Security Instrument, or if Borrower is ill default mlder any other mortgage or other
instrument SL"Cured by tlle Property, all SlUIlS secured by this Security Imtrument and accrued interest thereon shml at once become
due and payable at the option of Lender without prior notice, except as otherwise required by applicable law, and regardless of any
prior forbearance. In such event, Lender, at its option, and subject to applicable law, may !lIen or Úlereafter foreclose ÚiÌs Security
Instrument either by advertisement and sale of the Property as provided by statute (the power of sale provided for by statute being
hereby expressly granted to Lender by Borrower) or by an action in equity, and may invoke any otller remedies or take any other
actioIlS permitted by applicable law. Lender will collect all expenses incurred in pursuing tlle remedies described in this Paragraph
21, including, but not limited to, reasonable attorneys' fees and costs of title evidence.
If Lender invokes !lIe power of sale, Lemler shall give notice of intent to foreclose to Borrower and to the person in
possession of the Property, if different, in accordance with applicable law. Lender shall give notice of its intent to foreclose to
Borrower by certified mail, return receipt, in tlle Jllanner providt."d in paragraph 14. Lender shall publish the notice of sale, and
!lIe Property shall be sold in the manner prescribed by applicable law. Lender or its designee m.ay purchase tlle Propel1y 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 tllis Security Instnunent; and (c) any excess to tlle person or persons legally
entitled to it.
22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this property without
warranty to tlle person or persons legally entitled to it. Such person or persons sha11 pay any recordation costs. Lender may charge
such person or persons a fee for releasing the Property for services rendered if the charging of the fee is permitted under appJicable
law.
23. Waivers. Borrower hereby releases and waives a11 rights in the Property under and vitnre of the homestead exemption
laws of the State of Wyoming and hereby relinquishes a11 rights of curtesy and dower in Ùle Property.
24. Misrepresentation and Nondisclosure. Borrower has made certain written representations and disclosures in order to
induce Lender to make the loan evidenced by the Note or notes which this Security Instrument secures, and in the event that
Borrower has made any material misrepresentation or failed to disclose any material t~1Ct, Lender, at its option and without prior
notice or demand, shall have the right to declare the indebtedness secured by this Security Instrument, irrespective of the maturity
date specitied in tlle Note or notes secured by this Security Instnunent, illunediately due amI payable.
25. Time is of the Essence. Time is of the essence in the performance of each provision of this Security Instrument.
26. Waiver of Statute of LimitatioIlS. The pleading of the statute of limitations as a defense to enforcement of this Security
Instrument, or any and all obligations referred to herein or secured hereby, is herehy waived to the fu11est extent permitted by
applicable law.
27. Modification. This Security Instrument may be moditied or amended only by an agreement in writi ng signed by
Borrower and Lender.
28. Reimbursement. To the extent permitted by applicable law, Borrower shall reimhurse Trustee and Lender for any and
a11 costs, fees and expenses which either may incur, expend or sustain in the execution of the trust created hereunder or in the
perfofllh1nce of any act required or permitted hereunder or by law or Ü1 equity or otherwise arising out of or ill connection with
this Security Instrument, the Note, any other note secured by this Security Instrument or any other instrument executed by Borrower
in connection with the Note or Security Instrument. To the extellt permitted by applicable law, Borrower shall pay to Trustee and
Lender their fees in connection with Trustee and Lender including, hut not limited to assumption application fees; fees for payoff
demands and, statements of loan balance; fees for making, transmitting and transporting copies of loan documents, veritications,
full or partial lien releases and otller documents requested by borrower or necessary for performance of Lender's rights or duties
under tl¡js Security Instrument; fees arising from a returned or dishonored check; fees to determine whether the Property is
occupied, protected, maintained or insured or related purposes; appraisal fees, inspection fees, legal fees, hroker fees, insurance
mid-term substitutions, repair expenses, foreclosure fees and costs arising from foreclosure of the Property and protection of the
security for this Security Instrument; and all other fees and costs of a similar nature not otherwise prohibited by law.
29. Clerical Error. In the event Lender at any time discovers that the Note, any oÙler note secured by this Security
Instrument, tlle Security Instrument, or any other document or instrument executed in connection with tlle Security Instrument, Note
or notes contains an error that was caused by a clerical mistake, calculation error, computer malfunction, printing error or similar
error, Borrower agrees, upon notice tÌ'om Lender, to reexecute any documents that are necessary to correct any such error(s).
Borrower further agrees that Lender will not he liable to Borrower for any damages incurred hy Borrower that are directly or
indirectly caused by any such error.
30. Lost Stolen, Destroyed or Mutilated Security JŒtnunent and Otller Documents. In the event of the loss, theft or
destmction of the Note, any other note secured by this Security Instrument, the Security Instrument or any other documents or
instruments executed in connection with the Security Instrument, Note or notes (collectively, tlle "Loan Documents"), upon
Borrower's receipt of an indemnitication executed in favor of Borrower by Lender, or, in the event of the mutilation of any of the
Loan Documents, upon Lender's surrender to Borrower of the mutilated Loan Document, Borrower shall execute and deliver to
Lender a Loan Document in form and content idelllical to, and to serve as a replacement of, the lost, stolen, destroyed, or mutilated
Loan Document, and such replacement shall have the same force and effect as the lost, stolen, destroyed, or mutilated Loan
Documents, and may be treated for all purposes as the original copy of such Loan Document.
31. Assignment of Rents. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property.
Borrower shall have the right to collect and retain Ù1e rents of the Property as they become due and payable provided Lender has
not exercised its rights to require immediate payment in full of the sums secured by this Security instrument and Borrower has not
abandoned the Property.
32. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded togeÙler with this
Security Instmment, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplelnent
Page 5 of 6
W)'DIOOI5 (06-23-98)
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Loan Number: 321030810
Servicing Number: 001989075-5
Date: 11/10/0Ei
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the covenants and agreements of this Security Instmment as if the rider(s) were a part of this Security Instnnnent.
[Check applicable box(es)]
ŒJ Adjustable Rate Rider
o No Prepayment Penalty Option Rider
o Other(s) (specify)
o Conùominium Rider
o Planned Unit De\'elopment Rider
o 1-4 Family Rider
o Occupancy Rider
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and
in any rieler(s) executed by Borrower and recorded with it.
Witnesses:
(Seal)
- Borrower
(Seal)
-Borrower
"¡¿~~q) ~(jt !21A~/J ~
THOMAS JPJN ROBINSON
..----- (Seal)
-Borrower
(Seal)
-Borrower
(Seal)
(Seal)
-Borrower
-Borrower
STATE OF WYOMING,
Lincoln County ss:
The foregoing instrument was acknowleùged before me tl!Ís 10th day of November) 2005
(dale)
by Thomas John Robinson
(persun aeknuwledging)
tv1y ConunissÎoll Expires:
9-15-07
L(~l~-Q) µ ßcl--~~
Notary Publie /
GLORIA f<. BYERS. NOTARY PUBU'C'
C~unty of ¡{~ State of
M Lincoln ~1P Wyoming
Y CommIssIon Expires Sept. 15, 20D7
Page 6 of 6
WYDlOOl6 (06-23-9R)
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BEGINNING at the Northwest Corner of Lot 1 in Block 7 of the
Afton Townsite, Lincoln County, Wyoming and running thence
South 10 Rods¡
thence East 5 Rods¡
thence North 10 Rods¡
thence West 5 Rods to the point of beginning.
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Loan Number: 321030810
Servicing Number: 001989075 - 5
Date: 11/10/05
ADJUSTABLE RATE RIDER
(LIB OR Index - Rate Caps)
THISADJUSTABLERATERJDERismade November 10,2005
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 undersiglled (the "Borrower") to
secure Borrower's Adjustable Rate Note (the "Note") to
Option One Mortgage Corporation, a California Corporation
(the "Lender") of the same date and covering the property described in the Security Instrument and located
at:
40 W 2ND AVE I AFTON, WY 83110-9759
[PropeJ1y Address]
THE NOTE CONTAINS PROVISIONS ALLOWING 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, Borrower and Lender furÙ1er covenant and agree as follows:
The Note provides for an initial interest rate of 9.850%
Note provides for changes in ù1e interest rate and the monthly payments, as follows:
. The
4. INTEREST RATE AND MONTHLY PAYMENT OfANGES
(A) Olange Dates
The interest rate I will pay may change on the first day of December _01 2007
and on that day every sixth 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 all Index. The "Index" is the
average of interbank offered rates for six-month U.S. doJlar-denominated deposits in the London market
("UBOR"), as published in The Wall Street Journal. The most recent Index tigure available as of the tirst
business day of the month immediatdy preceding the month in which the Change Date occurs is caHed the
"Current Index."
If the Index is no longer available, the Note Holder will choose a new index that is based upon
comparable information. The Note Holder will give me notice of UlÌs choice.
(C) Calculation of Changes
Before each Change Date, the Note Holder will calculate: my new interest rate by adding
ElGin pc:rœntage: point(s) ( 8.000% )
to the: Current Inde:x. The Note Holder will the:n round the: re:suJt of û1Ìs addition to the next highe:r one-e:ighth
of one percentage: point (0.125 %). Subject to the: limits state:d in Sel:tion 4(D) below, this rounde:d amount will
MULTfSTATE ADJUSTABLE RATE RmER-UBOR fNDEX - Single Family
Page 1 of 3
USRro021 (02-23-')'))
Loan Number: 321030810
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Servicing Number: 001989075-5
Date: 11/10/05
be my new interest rate until tl1e next Change Date.
The Note Holder will tl1en 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 full 011 the Maturity Date at my
lIew interest rate in substantially equal payments. The result of tllÎs calculation will be the new amount of my
monthly payment.
(D) Limits on Interest Rate Olanges
The interest rate I am required to pay at the first Change Date will not be greater than
12 . 850 % or less than 9 . 850 % . Thereafter, my interest rate will never
be increased or decreased on any single Change Date by more than one percentage point (I .0 %) from the rate
of interest I have been paying for tlJe preceding six mOllths. In no event will my interest rate be greater
than 15 . 850 % or less than 9 . 850 %
(E) Effective Date of Changes
My new interest rate will become effective on each Change Dale. I will pay the amount of my new
monthly payment begimúng on tlJe tirst monthly payment date after the Change Date until tl1e amount of my
montllly 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 me and also the title and telephone number of a person who will answer any question I may
have regarding the notice.
TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
Covenant 17 of tlle Security IlIstrument is amended to read as follows:
Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
interest in it is sold or transferred (or if a beneíicial interest in Borrower is sold or transferred and Borrower
is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate
payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised
by Under if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall
not exercise tllÌs option if: (a) Borrower causes to be submitted to Lender information required by Lender to
evaluate the intended transferee as if a lIew loan were being made to the transferee; and (b) Lender reasonably
deternúnes that Lender's security will not be impaired by tl1e 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, Lender may charge a reasonable fee as a condition to
Lender's consent to the loan assumption. Lender may a]so require the transferee to sign an assumption
agreement that is acceptable to Lender and that obligates the transferee to keep all the pronúses and agreements
made in tl1e Note and in this Security Instnnnent. Borrower will continue to be obligated undtr tl1e Note and
this Security Instmment unless Lender releases Borrower in writing.
I f Lender exercises tl1e option to require immediate payment in full, Lender shall give Borrower notice
of acceleration. The notice shall provide a period of not Jess than 30 days from the date the notice is delivered
or mailed within which Borrower must pay all sUlns secured by this Security Instrument. If Borrower fails to
pay these sums prior to tlJe expiration of this period, Lender may invoke any remedies permitted by this
Security Instrument witllOut further notice or demand on Borrower.
MOLTIST ATE ADJUSTABLE RATE RIDER-LTBOR INDEX--Singlc Family
Page 2 of 3
USRI0022 (02-23-99)
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Loan Number: 321030810
Servicing Number: 001989075 - 5
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BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this
Adjustable Rate Rider.
,"-!).f(Á~A
Date: 11/10/05
(Seal)
(Seal)
(Seal)
(Seal)
(Seal)
Mln,TlST ATE ADJUSTABLE RATE RIDEH LmOR INDEX-Single Family
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USRf0023 (02-23-99)
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