HomeMy WebLinkAbout914013
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Loan No.: 6810001554
RECEIVED 11/28/2005 at 3:57 PM
RECEIVING # 914013
BOOK: 606 PAGE: 77
JEANNE WAGNER
LINCOLN COUNTY CLERf(, KEMMERER, WY
I MORTGAGE I
rvlrN 1001770,68 000 1554-6
¡\lERS TELEPHONE: (888) 679-6377
THIS MORTGAGE is made this 21st day of November, 200S, between thc Mortgagor, 'T'EIWY WILLL\VIS
(herein "Borrower"), and the MOligagee, Mortgage Electronic Registrdtion Systerns, Inc, ("tvlERS"), (solely as nominee for
Lender, as hercinafter defined, and Lender's successors and assigns), "vIERS is organized and existing under the laws of
Delaware, and has an address and tclephone number of 1',0, Box 202ó, Flint, tvll 48501-2()2(J, tel. (888) 679-MERS,
CORNERSTONE MORTGAGE COMPANY, ("Lender ") is organized and existing under the laws of THE STATE OF
TEXAS, and has an address of 1177 WEST LOOP SOUTH, SUITE 200, HOUSTON, TEXA,S 77027,
WHEREAS, Borrower is indebted to Lender in the principal SUIl! of [],S, $ 59,500.00, whieh indebtedness is
evidenced by Borrower's note dated November 21, 2005 and extensions and renewals thercof (herein "Note"), providing for
monthly instaIlments of principal and interest, with the balance of imlebtedm:ss, if not sooner paid, due am! payable on
December 1, 2020;
TO SECURE to Lender the repayment of the indebtedness evidenced by thc Note, with interest thereon; the paymcnt
of all other sums, \vith interest thereon, advanced in accordance hcrewith to prokct the security of this Mortgage; and the
performance of the covenants and agreements of Borrower herein containcd, Borrowcr does hereby mortgage, grant and
convey to Iv1ERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of
MERS, with power of sale, the foIlowing described propeliy located in the County of LINCOLN, State of Wyoming:
LOT 74 OF AMEDED PLAT OF STAR VALLEY RANCH PLAT 1, LINCOLN COUNTY, "'YO\II"lG AS
DESCRIßED ON THE PLAT NO, 427346 OF LINCOLN COUNTY OFFICIAL RECORDS,
to
which has the address of
Wyoming
801 SPRUCE DRIVE,
[Street]
(herein "Property Address");
THA YN 1~,
[City]
83127
[ZIP Code]
TOGETHER with a11 the improvements now or hereafter erected on the properly, and all casements, rights,
appurtenances and rents, all of which shall be deemed to be and remain a part of the property covered by this \lortgage; and
all of tht': foregoing, together with said property (or tht': leasehold estate if this !vlortgage is on a leaschold) are hereinafter
referred to as the "Property," Borrower understands and agrees that MERS holds only legal title to the interests grankd by
Borrower in this MOligage; but, if necessary to comply with law or custom, tvlERS, (as nOIllinee for Lcnder and Lender's
successors and assigns), has the right: to exercise any or all of those interests, including, but not limited to, the right to
foreclose and se11 the Property; and to take any action required of Lender including, but not limited to, releasing or canceling
this MOligage.
Borrower covenants that Borrower is lawJiJlly seised of the estate haeby conveyed and has the right to mortgage,
grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record, Borrower
covenants that Borrower warrants and will defend generally the title to the Property against all claims and dcmands, subject to
encumbrances of record.
UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
1. Payment of Principal and Interest. Borrower shall promptly pay when due thc principal and interest
indebtedness evidenced by the Note and late charges as provided in the Note,
2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower sha11 pay to
Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in fnll, a sum
(herein "Funds") equal to one-twelfth of thc yearly taxes and assessments (including condominiuIll and planncd unit
development assessments, if any) which may attain priority over this Mortgage and ground rents on the Property, if a11Y, plus
one-twelfth of yearly premium insta11ments tè)r hazard insurance, plus one-twelfth of yearly prcmium installmcnts tèJr
mOligage insurance, if any, all as reasonably estimated initially and tì'om time to timc by Lemler on the basis of assessments
and bills and reasonable estimates thereof Borrower shall not be obligated to make such payments of Funds to Lender to the
extent that Borrower makes such payments to the holder of a prior mOligage or deed of trust if such holdcr is an institutional
lender.
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If BOiTower pays funds to Lender, the funds shall be held in an institution the deposits or accounts of which are
insured or guaranteed by a federal or state agency (including Lemler if Lendèr is such an institution), Lcnder shall ;ljJply the
Funds to pay said taxL:s, assessments, insurance premiums and ground rents, Lenckr may not charge tlJr so holding and
applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender pays
Borrower interest on tbe funds and applicable law permits Lender to make such a charge, [3orrower and L;l1ller may agree in
writing at the time of execution of this Mortgage that in!èr,:st on tbe Funds shall be paid to [3orrowcr, and unkss such
agreement is made or applicable law requires such interest [0 he paid, Lcnder shall not be required to pay [3orrower any
interest or earnings on the funds, Lender shall give to [3orrower, witbout charge, an annual accounting of the funds sbowing
credits and debits to the Funds and thL: purpose for which each debit to the funds was made, The Funds arc pledged as
additional security fè)r tile slims secured by this Mortgage,
If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, sbal1 excecd the amount required to pay said taxes,
assessments, insur,lnce premiums and ground rents as they fall due, such exccss shall bc:, at Borrower's option, cither
promptly repaid to Borrower or credited to Borrowcr on monthly installments of Fumk If the amoullt of thc Funds held by
Lender shall not be sufficient to pay taxes, assessments, insurancc premiums and ground rents as tlley fall due, Borrowcr shall
pay to Lender any amount necessary to make up the detìcicnL'y in one or more payments as Lender may require,
Upon payment in full of all sums secured by this r, ortgage, Lcnder shall promptly refund to Borrower any Funds
held by Lender. If under paragraph 17 hereof the Propcrty is sold or tbe Property is otberwise acquired by Lender, Lender
shall apply, no later than immediately prior to the ~ale of the Propel1y or its acquisition by Leuder, any funds held by Lender
at the time of application a~ a credit against the sums secured by this Mortgage,
3. Application of Payments, Unless applicable law provides otherwise, all pay111ents rcceived by Lender undcr the
Note and paragraphs 1 and 2 hereof shall bc applicd by Lender first in payment of amounts payable to lelli,ier by [3orrower
under paragraph 2 hereof, tllen to interest payable on the Note, and then to the principal of the Note.
4. Prior ~'¡ortgages and Deeds of Trust; Charges; Liens, 13orrO\ver shall perform all of Borrower's obligations
under any mortgage, deed of trust or other security agreement with ,I lien which has priority over this ivlortgage, including
13orrower's covenants to make payments when due, Borrower shall payor cause to bc paid all taxcs, assessmclils amI other
charges, fìnes and impositions attributable to the Property which may attain a priority over this Mc)¡1gage, and leasehold
payments or ground rents, if any,
5, Hazard Insurance, Borrower shall keep tbe improvements nOli existing or her(~after erccted on the Property
insured against loss by firc, hazards included within the term "extended coverage," and such other hazards as Lendcr may
require and in such amounts and for such periods as Lender may rcquire,
The insurance carrier providing the insurance shall be chusen by Borrower subject to approval by Lellder; provided,
that such approval shall not be unreasonably withhcld, All insurance policies and renewals thercof sh;11I be in a r,mTI
acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to lender. Lender
shall have the right to hold the policies and rencwals thereof, subject to the tcrms of any mortgage, deed of trust or otber
security agreement with a lien which has priority over this I\Iortgage,
In the evcnt of loss, Borrower shall give prompt notice to the insurance carrier aud Lender. Lender may make proof
of loss if not made promptly by Borrower.
If the Property is abandoned by 13orrower, or if Borrower fails to respond to Lender within 30 days from the date
notice is mailed by Lem1cr to BOITowcr tbat the insurance clrrier offers to scttle: a claim for insurance bellclìls, Lender is
authorized to collect and apply the insurance proceeds at Lender's option cither to restoration or repair of tbe Property or to
the SIIlDS secured by this M0I1gage.
6, Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
Borrower shall keep the Propeliy in good repair and shall not commit waste or pcrmit impairment or detcrioration of the
Propeliy and shall comply with the provisions of any lease if this \Iurtgage is on a le;lsehold, If this tv10rtgage IS on;1 unit in
a condominium or a planned unit development, [3o\ïw,ver shall perform all of Borrower's obligations under the declaration or
covenants creating or governing the condominium or planned unit development, the by-laws amI regulations of the
condominium or planned unit development, and constituent documents,
7, Protection of Lender's Security. ]f Borrower fails to perform tbe covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lendcr's interest in thc Property, then
Lender, at Lender's option, upon notice to Burrower, may make such appearances, disburse such sums, including reasonable
a!tomeys' fees, and take such action as is necessary to proteet Lender's interest. If Lemler required mortgage insurance as a
condition of making the loan secured by this Mortgage, BorrO\ver shall pay tbe premiums required to ¡naintain such insurance
in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written
agreement or applicable law,
Any amounts disbursed by Lender pursuant to this par;¡graph 7, with interest thercon, at the Note rate, shall becl)me
additional indebtedness of Borrower secured by this Mortgage, Unless Borrower and Lender agree to other terms of
payment, such amounts shall be payable upon notice tì"OIIl Lender to Borrower requesting payment thereof Nothing
contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
8. Inspection. Lender may make or cause to be made reasonable "Itries UpOll and inspcctions of the Property,
provided that Lender shall give BOll'ower notice prior to any such inspection specif)!ing reasonable cause therefor related to
Lender's interest in the Property,
9. Condemnation. The proceeds of any award or cJaim for damages, direct or conscquential, in connection with
any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agrec:melll with a
lien which has priority over this M0I1gage,
HI. Borrower Not Released; Forbearance By Lender Not a '''aiver. Extension of the time for payment or
modification of amortization of the sums secured hy this M0I1gagL: granted by Lender to any successor in interest of
Borrower shall not operate to release, in any manlier, the liability of the original Borrower and Borrower's successors in
interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment
or otherwise modify amortization of the SlHns secured by this Mortgage by ['cason of any demand made by the original
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Form ,1X51
A1I1l'udl'd 2/99
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Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or rcnH:dy hereunder, or
otherwise afforded by appl icable law, shall not be a waiver of or preclude the cxercise of any such right ur remedy.
11. Successors and Assigns Bound; Joillt and Several Liability; Co-signers. TIJC co\'Cnants and agreements
herein contained shall bind, and the rights hereunder shall inure to, the respective successors amI assigus of Lcnder and
Borrower, subject to the provisions of paragraph I ó he1'(:o[, All covenants and agreements of Burruwer shall be joint and
several. Any Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co,siguing this Mortg<¡gc: only 10
mortgage, granl and convey that Borrower's interest in the Property to L:nder under the terms of this !\' 'Jrlg<lge, (b) is not
personally liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may agree
10 extend, modify, forbear, or make any other accommodations with regard to the terms of this Mortgage or the Note without
tlJilt BurrOlver's consent and without releasing that Borrower or modifying this MOligagl; as to that Borrower's interest in the
Property,
12. Notice. Except for any notice required under applicable law to be given in another mannl;r, (a) any notice to
Borrower JllJvided for in this Mortgage shall be given by delivering it or by mailing such notice by certified lllail addressed
to Borrower at the Propeliy Address or at such other address as Borrower may designate by nut ice to Lender as provided
herein, and (b) any notice to Lenda shall be given by certified mail to Lender's address stated herein or to sllch o[hcr addrcss
as Lender may designate by notice to Borrower as provided herein. Any notice providcd for in this rvlortgage shall be
deemed to have bCl;n given to Borrower or Lender when given in the manner designated herein,
13. Governing Law; Severahility, The state and local laws applicable to this Mortgage shaH be th.: laws uf the
jurisdiction in which the Property is located, The foregoing sentence shall not Jimit thc applicability of fcderal law to this
Mortgage, In the event that any provision or clause of this Mortgage or thc Not<: contlicts with applicablc law, such contlict
shall not affect other provisions of this Mortgag.: or the Note which can be given e1TÌ::ct without the conJlicting pmvision, ,lIld
to this end the provisions of this Mortgage and the Not.: are declared to be severable, As uSèd h.:rcin, "costs," "expenses"
and "attorneys' fees" includ.: all sums to the ext<:nt not prohibited by applicable law or limited herein,
14. Borrower's Copy. Borrower shall be furnished a conformed copy ofthc Note and ofthi~ \Iurtgage at the time
of execution or after recordation hereof.
15. Rehabilitation Loan Agreement. Borrower shall fulfiH all of Borrowcr's obligations under any home
rehabilitation, improvement, repair, or other loan agreèment which Borrower enters into wilh Lender. Lender, at Lender's
option, may require Borrower to execute and deli\'lT to Lender, in a form acccptable to Lender, an assignment of any rights,
claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with
improvements made to the Property,
16, Transfer of the Property or a Renelicial Interest in Borrower, If all or any part of the Property or any
intcn;st in it is sold or transferred (or if a bendicial interest in Borrowcr is sold or transfcrred and Borrower is not a natural
person) withmlt Lender's prior written consent, Lender may, at its option, require immediat<: payment in full of all sums
secured by this Mortgage, However, this option shall not be exercised by Lcmkr if exercisc is prohibited by fed.:ralla w <IS of
the date of this MOligage.
If Lender exercises this option, Lender shall give Borrower nutice of accckration, The notice shall provide a period
of not less than 30 days from the date the notice is dcJiv.:red or mailed within which Borrower must pay all sums secured by
this Mortgage, I f Borrower faiJs to pay these sums prior to the expiration of this ¡J.:riod, Lender may invokc any remedies
permitted by this Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS, Borrowcr and Lender further covenant and agree as ((¡llows:
17, Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any
covenant or agreement of Borrower in this j\lortgage, including the covenants to pay when due any sums secured by
this Mortgage, Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof
speci(ying: (1) the breach; (2) the action requind to cure such breach; (3) a date, not less than 10 days from the date
the notice is mailed to Borrower, hy which such breach must be cured; and (4) that failure to cure such breach on or
before the date specitied in the notice may result in acceleration of the sums secured by Ihis 1\lortgage. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to hring a court action to
assert the nonexistence of n default or any other defense of Borrower to acceleration and sale, If the breach is not
cured on or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by
this Mortgage to be immediately dne and payable without further demand and may invoke the power of sale and any
other remedies permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses
incurred in pursuing the remedies provided in this paragraph 17, including, but lIot limited to, reasonable attorneys'
fees.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to 110rrower and to the
person in possession of the Property, if different, in accordance with applicable law, Lender shall mail a copy of a
notice of the sale to Borrower in the manner provided in paragraph] 2 hereof. Lender shall publish the notice of sale
and the Property shall be sold in the manner prescribed by applicable Jaw. Lender or Lender's designee may
purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all
reasonable costs and expenses of the sale, including, but not limited to, reasonable attorneys' fees and costs of title
evidence; (b) to all sums secured by this Mortgage; and (c) the excess, if any, to the person or persons legally entitled
thereto,
18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this l\'1ortgage
due to Borrower's breach, Borrower shaH have tbe right to have any proceedings begun by L.:nder to en1()rce this MOJ tgage
discontinued at any time prior to tbe earlier to occur of (i) tbe fifth day b¡;fore sale of the Property pursuant to the power of
sale contained in tbis MOligage or (ii) entry of a judgment en1()¡'cing this Mortgage if: (a) Borrower pays Lend¡;r all sums
which would be then due under this Mortgage and the Note had no acceJcration occurred; (b) Borrower cures all breaches of
any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all rea~;ollablc expenses
incurred by Lender in enforcing the covenants and agrecments of Borrower contained in this Mortgage, and in enf(Jrcing
Lender's remedies as provided in paragraph 17 hereof, including, but not limited to, rcasonable attorneys' fees; alld (d)
Borrower takes sueh action as Lender may reasonably require to assure tbat the lien of this MOIigage, LClldcr's interest in the
Property and Borrower's obligation to pay the sums secured by this MOligage shaH continue unimpaired, Upon such
I'age 3 of 6
Form 3851
AJHe~~jl'¡) 2/99
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pajl11ent and cure b) Borrower, this MOligage ami the obligations seeured hereby shall remain in full !()rce amI effect as ifno
acceleration had occurred.
19, Assignment of Rents; Appointment of Receiyer; Lender in Possession. As additional security hereunder,
Borrower hereby assigns to Lender the rents of the Propeliy, provided that Borrower shall, prior to acceleration under
paragraph] 7 hereof or abdndonment of the Property, ha ve the right to collect and retain such rents as they become due and
payable,
Upon acceleration under paragraph 17 hereof or abandonment of the Property, and at any timc prior to the cxpiration
of any period of redemption tallowing judicial sale, Lender, in person, by agent or by judicially appointed receiver, shall be
entitled to enter upon, take possession of and manage the Property and to (:ollect the rents of the Property ineluding those past
due, All rents collected by Lender or the receiver shall be applied first to paymellt of the costs of rnanagement of the
Property and collection of rents, including, but Ilot limited to, reeeiver's fees, premiums on receiver's bonds and reasonable
attorneys' fees, and then to the sums secured by this ìvlortgage, Lender and the rccciver shall be ]iable to account ollly for
those rents actually reccived,
20. Release. Upon payment of all stuns scc'ured by this Mortgage, Lender shall release this Mortgage without
charge to Borrower. Borrower shall pay all costs of recordation, if any,
21. 'Vaiver of Homestead, Borrower hereby waives all right of homestead exemption inthc Property,
22. "Riders" means all Riders to this Security Instrument that arc executed by ßOlTower. Thc followilJg Riders are
to be executed by BOlTo\Ver [check box as applicable]:
[ ] Adjustable Rate Rider
[X] Balloon Rider
[ ] Condominium Rider
[ ] Planned Unit Development Rider
r] 1-4 family Rider
[Xj Othcr(s) fSjJL:cifY]
Second HOIIJc Rider
Page 4 of6
Form 3HSl
AlIll'nded 2/99
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WYOl\flNG - SECOND MORTGAGE - 1/80 - FNJ\IA/FHLl\IC UNIFOW\I ¡I'\STHUME8T \\TIIl ,'IIERS
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REQUEST FOR NonCE OF DEFA.ULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holdL:r of any mortgage, deed of trust or othL:r encumbrance with a lien which has
priority over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this l'v1ortgage, of any
default lJllder the superior encumbrance and of any sale or other foreclosure action,
IN WITNESS WHEREOF, Borrower has executed this rv1ortgage,
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WYOl\lING - SECOND !\!ORTGAGE - 1/80 - FNl\IA/FIILMC V1\IFOHl\! L'\'STRLJl\IENT WITIIl\IEHS
Form 385!
Amended 2/99
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The fo(~going instrument was acknowledged bèforc me this f\f f \"(' VY\ J', / ,:; J .), (;(/5 by
TERRY WILLIAMS
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BALLOON RIDEn TO TIlE MORTGAGE
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Borrower Name(s):
TERR Y WILLIA1'\lS
Note Date:
Nuvember 2], 2005
For a va]uabJe cOllsid.:ration, receipt of which is h.:reby acknowledg.:d, both Borrower and L.:ndu agree that this BALLOON JUDER
TO THE MORTGAGE/DEED OF TRUST, ("Mortgage") amends that certain !vlOJigage/Deed of Trust ("\lorlgage") of dak shown
above, to which this Rider is attached, BOITower and Lender agree that the Note shall be: subject to tile fÖllO\ving provision",
notwithstanding all)' provisions to the contrary contained in said Note or the IVloJigage given by !3orrow(:;r to seCLUT repa)'llI.:nl ur tll':
Not¡;,
BALLUON PAY1V1ENT:
THIS LOAN IS PAYABLE IN FULL AT THE END OF DECEMBER], 2020 .
BORROWER MUST REPAY THE ENTlRE PRINCIPAL BALANCE OF THE LOAN AND THE UNPAID INTEREST
THEN DUE. THE LENDER IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TII\lE. BORlU)WEH
WILL THEREFORE BE REQUlIŒD TO f\lAKE PAYMEYf OUT OF OTHER ASSETS BORRO\VER MAY 0\\'\1, OR
BORROWER WILL HAVE TO FIND A LENDER, WHICH l\IA'\' BE THE LENDER BORROWER HA,S TIUS LOAN
WITH, WILLING TO LEND BORROWER THE l\10NEY A.T PRE\'AILING MARKET RATES, WHICH\lA Y BE
CONSlDEHABLY HIGHER OR LO\VER THAN THE INTEREST RATE ON HilS LOAN. If BOrmOWER
REFINANCES THIS LOAN AT MATURITY, BORROWER MAY HAVE TO PAY SOME OR ALL CLOSING COSTS
NORM ALL Y ASSOCL'\ TED WITH A NEW LOA"J, EVEN IF BORH.OWEH. OBTAINS REFINANCING FRO\1 THE
SAME LENDER.
NOTICE OF MATURITY:
At kast ninety (90) but no more than one hundred twenty (120) days prior to the Ivlaturity Date, Lender must send Borrower a notice
which states the Maturity Date (assuming all schedukd regular monthly payments due the d:¡te of the notiet and tht :vlaturity Date ¡¡IT
made on time),
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Borrower
t.~ i
Borrower
Borrower
13ALLOON
corba]r
!.O; JI N(¡.: 61\IOOUISS4
SECOND HOME JzJDER
TI,{]S SECOND I-I0t,I'![ RIDER i~ ¡¡¡,Ilk this 21st dllY uf '\'o\émher, 200:", IInd is
ineorporattd into and shall be deell1l'd to 'amend amI SUppklilC:llt tile I\lortg:lge, DCl'J of'Tnh!. or
Security Deed (thl:: "Security Instrlllllent") of the Sdlnl' date gil'cn hy thc ulIllcrsigllccl (the
"BorrO\I'c:r" whether there are one or more peroons u ]ckrsigned 10 secure Borrower's Note to
CORNERSTONE :\10RTGAG£ CO¡\Jl'ANY (thl' "Ll'Ildd') of tllc slime dllte IInd cow ring the
Property described in the Security Instrument (the "Property" ), whil'll is located at:
80] SPRUCE DIU\'E, 111.\ \'~E, \\'\O\IINC 1\3] 17
(Pru Je'rly:\J.1r",,]
In addition to the covellllllls ane! agreements madc in tIll' Security Instrument, Burrower ,Inù
Lender further covenant and agrce ¡1¡Ilt Sectiuns {¡ "nd 8 of thc Security InstnJJllcllt lilT dckted and
are rl::placed hy the following:
6, Occupancy, Burrower shall occupy" aJ1l1 shall on]y use, the Pruperty ,10 Borrower's
second home, Borrower sha1l kcep tiJe Property al'aibhle: fur ßorrU\I'cr's cxclusive liSt' and
enjoyment at all times, and "ha1l nut suhject the Propcrty to any timesh:nillg UI other sh,m::d
ownership arrangement or tu any rcntal pool or aglecment that require~ U(JlTOWCr eitl¡cr to
rent the Property or give ¡¡ ma¡¡agement finn ()I' any uther perSO¡ I IIIIY cuntru! uver the
occupancy or usc of the Property,
8. Borrower', L(¡an Application, Burrower shall be ill ckÜllIlt If, during the LOlln
application process, Borrower or any persons (JJ' e'ntitics acting at the direL,tioll of !3()!Tuwc::r
or Ilith Burroll'er's knowledge or curhl:lll g,ll'e lI1illerilllly ¡¡ sc, rnisle~ldillg, or ilJllccurak
infurlllatiun or statements to Lcndcr (or failcd tu provide' Lemler with nllltcri,iI infonnation)
in connectiulI with the LO:ln. tI'Jaterillj rcpresen1lltions include, bllt are n()t limited [()"
M[;LT]STATE SECO;\]) !JO,\IE {WEI{ - Singk Family -'"lInit, :\bt'/FredJie lIb, USIF( IL\ L'\STJW\IL\T
1'''1'111 3g91J lIt)j
PJgê I 01':2
lni ¡ials:
usc3890
/....
,,~_, I~j ':i
,·,';',¡Y';',':
I'i
,
lJ
r· .......~ ,..... ~ r.. f.'""""
. "'. O;J
representations concel11l11g Borrower's occupancy of the Property as Borrower's second
home,
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained
in this Second Home Rider.
é'//-~~:::',-...~' :?' -----
,/ / =-'i ./'c__---- ,'-
//,/ . L// _/----éScälj-
í'Ely.lV'\VILLIAl\IS ,,/"'" -Borrower
//
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
,Borrower
Form 3H90 1/01
Page 201'2