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000785
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After R~cording Return To:
, Calusa Investments, LLC
14040 Park Center Road
Suite 300
HERNDON, VIRGINIA. 20171
RËCEIVED 2/7/2006 at 4:08 PM
RECEIVING # 915850
BOOK: 611 PAGE: 785
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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MORTGAGE
(Secondary Lien)
DEFINITIONS
Words used in multiple sections of this document are defmed below and other words are defmed in Sections 3, 10, 12, 17, 19,
and 20. Certain rules regarding the usage of words used in this document are also provided in Section 15.
(A) "Security Instrument" means this document, which is dated January 31, 2006
Riders to this document.
(B) "Borrower" is TROY LEE MCAFFEE AND CAREY LEA MCAFFEE husbañd
and wife
, together with all
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Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a
nominee for Lender and Lender's successors and assigns. MERS is the beneficiary under this Security Instrument. MERS
is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, ~
48501-2026, tel. (888) 679-MERS.
(D) "Lender" is Calusa Investments, LLC
Lender is a Limited Liability Company
the laws of VIRGINIA
14040 Park Center Road, Suite 300, HERNDON, VIRGINIA 20171
organized and existing under
. Lender's address is
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(E) "Note" means the promissory note signed by Borrower and dated January 31, 2006 . The Note
states that Borrower owes Lender Twenty Five Thousand Seven Hundred Fifty and no/100
Dollars (U.S. $25,750.00 ) pius interest. Borrower has promised
to pay this debt in regular Periodic Payments and to pay the debt in full not later than February 08, 2026
(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property."
WYOMING MORTGAGE--Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC, @
ITEM 8700L 1 (0304}-MERS (page 1 of 11 pages)
GREA TLAND .
To Od<rCIII: 1.8Jo-530-9393 L Fac616-791·1131
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00786
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the
Note, if allowed under Applicable Law, and all sums due under this Security Instrument, plus interest.
(H) "Riders" meflIlS all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
executed by Borrower [check box as applicable]:
o Adjustable Rate Rider
o Balloon Rider.
o Condominium Rider
o Planned Unit Development Rider
o Revocable Trust Rider
o Second Home Rider
o Biweèkly Payment Rider
o Home Improvement Rider
o Other(s) [specify]
(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative nùes and orders (that have the effect oflaw) as well as all applicable final, non-appealable judicial opinions.
(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are
imposed on Borrower or the Property by a condominium association, homeowners association or similar organization.
(K) "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 instrument, computer, or magnetic tape
so as to order, instruct, or authorize a fmandal institution to debit or credit an account. Such tenn includes, but is not limited
to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and
automated clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "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 destruction of, the
Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or
(iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus
(ii) any amounts under Section 3 of this Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation,
Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation
or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements
and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualifY as a
"federally related mortgage loan" under RESPA.
(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
assumed Borrower's obligations under the Note and/or this Security Instrument.
WYOMING MORTGAGE-8ingle Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 8700L2 (0304}-MERS (page 2 of 11 pages)
GREATLAND.
To ad... CàI: 1-ID~530-9300 L Fax: 611>791.1131
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000787
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all 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 purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's
successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property
located in the County of LINCOLN
[Type of Recording Jurisdiction] [Name of Recording Jmisdiction]
LOTS 3-L-3 AND 4-L-3 OF ROLLING HILLS 1ST ADDITION to THE CITY OF KEMMERER, LINCOLN COUNTY,
WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF
which currently has the address of
1609 SUNLIGHT DRIVE
[Street]
KEMMERER
[City]
, Wyoming
83101
[Zip Code]
("Property Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees
that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, ifnecessary to comply
with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all
of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of
Lender including, but not limited to, releasing and canceling this Security Instrument.
BORROWER COVENANTS that Borrower is lawfully 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 all claims and demands, subject to any
encumbrances of record.
THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a uniform security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest and Other Charges. Borrower shall pay when due the principal of, and interest
on, the debt evidenced by the Note and if allowable under Applicable Law, any prepayment charges and late charges due
under the Note. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any
check or other instrument received by Lender as payment under the Note or this Security rllstrument is returned to Lender
unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
one or more of the following fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a
federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
2. Application of Payments or Proceeds. Payments are deemed received by Lender when received at the location
designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in
Section 14 or in such manner or location as required under Applicable Law. Except as otherwise described in this Section 2, and
as permitted under Applicable Law, all payments accepted and applied by Lender shall be applied in the following order of
WYOMING MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE. INC. @
ITEM 8700L3 (0304 }-MERS
GREATLAND.
To Od..- Q¡J : 1-800-530-9393 L Fax: 616-791.1131
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priority: (a) interest due ooder the Note; (b) principal due \mder the Note; (c) amooots due ooder Section 3. Such payments shall
be applied to each Periodic Payment in the order in which it became due. Any remaining amooots shall be applied first to late
charges, second to imy other amooots due ooder this Security Instrument, and then to reduce the principal balance of the Note.
If Lender receives a payment ftomBorrower for a delinquent Periodic Payment which includes a sufficient amount to pay
any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic
Payment is outstanding, Lender may apply any payment received ftom Borrower to the repayment of the Periodic Payments if,
and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the
full payment of one or more Periodic Payments, such excess may be applied to any late charges due. To the extent permitted
by Applicable Law, VOlootary prepayments shall be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due ooder the Note shall not
extend or postpone the due date, or change the amooot, of the Periodic Payments.
3. Funds for Escrow Items. Subject to Applicable Law, Borrower shall pay to Lender on the day Periodic Payments
are due ooder the Note, ootil the Note is paid in full, a sum (the "Foods") to provide for payment of amooots due for:
(a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on
the Property; (b) leasehold payments or groood rents on the Property, if any; (c) premiums for any and all insurance required
by Lender ooder Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu
of the payment of Mortgage Insurance premiums. These items are called "Escrow Items." At origination or at any time
during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be
escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to
Lender all notices of amooots to be paid ooder this Section. Borrower shall pay Lender the Foods for Escrow Items unless
Lender waives Borrower's obligation to pay the Foods for any or all Escrow Items. Lender may waive Borrower's obligation
to pay to Lender Foods for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such
waiver, Borrower shall pay directly, when and where payable, the amooots due for any Escrow Items for which payment of
Foods has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within
such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and
agreement" is used in Section 8. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower
fails to pay the amooot due for an Escrow Item, Lender may exercise its rights ooder Section 8 and pay such amooot and
Borrower shall then be obligated ooder Section 8 to repay to Lender any such amooot. Lender may revoke the waiver as to
any or all Escrow Items at any time by a notice given in accordance with Section 14 and, upon such revocation, Borrower
shall pay to Lender all Foods, and in such ammmts, that are then required ooder this Section 3.
Lender may, at any time, collect and hold Foods in an amooot (a) sufficient to permit Lender to apply the Funds at the
time specified ooder RESPA, and (b) not to exceed the maximum amooot a lender can require ooder RESPA. Lender shall
estimate the amooot of Foods due on the basis of current data and reasonable estimates of expenditures of future Escrow
Items or otherwise in accordance with Applicable Law.
The Foods shall be held in an institution whose deposits are insured by a federal agency,instrumentality, or entity
(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall
apply the Foods to pay the Escrow Items no later than the time specified ooder RESP A. Lender shall not charge Borrower for
holding and applying the Foods, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
Borrower interest on the Foods and Applicable Law permits Lender to make such a charge. Unless an agreement is made in
writing or Applicable Law requires interest to be paid on the Foods, Lender shall not be required to pay Borrower any interest
or earnings on the Foods. Borrower and Lender can agree in writing, however, that interest shall be paid on the Foods.
Lender shall give to Borrower, without charge, an annual accounting of the Foods as required by RESPA.
If there is a surplus of Foods held in escrow, as defmed under RESP A, Lender shall accooot to Borrower for the excess
funds in accordance with RESPA. If there is a shortage of Foods held in escrow, as defmed ooder RESPA, Lender shall
notifY Borrower as required by RESP A, and Borrower shall pay to Lender the amooot necessary to make up the shortage in
accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Foods held in escrow, as
defmed ooder RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amooot
necessary to make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
Foods held by Lender. Borrower shall not be obligated to make such payments of Foods to Lender to the extent that
Borrower makes such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender. If
under Section 21 the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply no later than
WYOMING MORTGAGE-8ingle Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 8700L4 (0304}-MI¡RS (page 4 ofll pages)
GREATLAND.
To ad..- Q¡ : 1-800-530-9393 L Fax: 616-791-1131
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C00789
immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application
as a credit against the sums secured by this Security Instrument.
4. Charges; Liens. Borrower shall perfonn all of Borrower's obligations under any mortgage, deed of trust, or other
security agreement with a lien which has priority over this Security Instrument. Borrower shall pay when due, all taxes,
assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument,
leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any.
To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
BorrowtT shall promptly discharge any lien other than a lim disclosed to Lender in Borrower's application or in any title
report Lmder obtained which has priority over this Security Instnunent unless Borrower: (a) agrees in writing to the payment of
the obligation secured by the lien in a manner acceptable to LendtT, but only so long as Borrower is performing such agreement;
(b) contests the lien in good faith by, or defends against enforcement of the lim 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 fiom the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument.
Lender 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 if allowed under Applicable Law.
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
insured against loss by fIre, hazards included within the tenn "extended coverage," and any other hazards including, but not
limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone detennination,
certifIcation and tracking services; or (b) a one-time charge for flood zone determination and certifIcation services and
subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or
certifIcation. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management
Agency in connection with the review of any flood zone determination resulting fiom an objection by Borrower.
If Borrower fails to maintain any of the coverages described 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 coverage. Therefore,
such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity 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 acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that
Borrower could have obtained. Any amounts disbursed by Lender under this Section 5, shall be added to the unpaid balance of
the loan and interest shall accrue at the Note rate, fiom the time it was added to the unpaid balance until it is paid in full.
Subject to Applicable Law, all insurance policies required by Lender and renewals of such policies shall be subjectto
Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certifIcates. If Lender requires,
Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fonn of
insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall
include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if
the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such
Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on
such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for
public adjusters, or other third parties, retained by Borrower shall 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 Lender's security would be lessened,
the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
matters. If Borrower does not respond within 30 days to a notice fiom Lender that the insurance carrier has offered to settle a
WYOl\fiNG MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 8700L5 (0304}-MERS
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GREATLAND.
To Od..- Q¡J : 1-ID(}.53(}.9393 L Fax: 616-791-1131
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claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the noticeis given. In either event,
or if Lender acquires the Property under Section 21 or otherwise, Borrower hereby 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 refund of unearned premiums paid by Borrower) under all
insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use
the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
Instrument, whether or not then due.
6. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage
or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is
residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or
decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not
economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If
insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be
responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may
disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is
completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not
relieved of Borrower's obligation for the completion of such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. Ifit has reasonable cause, Lender
may inspec! 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.
7. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or
any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
misleading, or inaccurate infmmation or statements to Lender (or failed to provide Lender with material information) in
connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's
occupancy of the Property as Borrower's principal residence.
8. Protection of Lender's Interest in the Property and Rights Under this Security Instrument If (a) Borrowcr-
fails to perform the covenants and agreements contained in this Security Instrument, (b) 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 has or may attain priority over this
Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and
pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property.
Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has or may attain priority
over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the
Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the
Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and
windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned
on or off. Although Lender may take action under this Section 8, Lender does not have to do so and is not under any duty or
obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 8.
Any amounts disbursed by Lender under this Section 8 shall become additional debt of Borrower secured by this
Security Instrument if allowed under Applicable Law. 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 Borrower
acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
9. Mortgage Insurance. 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 Mortgage Insurance.
If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to
maintain the Mortgage Insurance in effect.
10. Assignment of Miscellaneous Proceeds; Forfeiture. The Miscellaneous Proceeds of any award or claim for
damages, direct or consequential, 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 paÍd to Lender, subject to the terms of any mortgage,
deed of trust or other security agreement with a lien which has priority over this Security Instrument.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
WYOl\flNG MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE. INC. @
ITEM 8700L8 (0304}-MERS (page 6 of 11 pages)
GREATLAND.
To Cd" can: H300-530-9393 L Fax: 616-791-1131
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Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property
to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defmed
in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30
days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to
restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing
Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of
action in regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this
Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 18,
by causing the action or proceeding to be dismissed with a nùing that, in Lender's judgment, precludes forfeiture of the
Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The
proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are
hereby assigned and shall be 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.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of
Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse
to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of
any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in
exercising any right or remedy including, without limitation, Lender's acceptance of payments ftom third persons, entities or
Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the
exercise of any right or remedy.
12. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that
Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument
but does not execute the Note (a "co-signer"): (a) is co~signing 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 Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent.
Subject to the provisions of Section 17, any Successor in Interest of Borrower who assumes Borrower's obligations
under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
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 19) and benefit the successors and assigns of Lender.
13. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default,
for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, as allowed under
Applicable Law. The absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be
construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this
Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest
or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such
loan charge shall be reduced by the amO\U1t necessary to reduce the charge to the permitted limit; and (b) any sums already
collected ftom Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this
refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
principal, the reduction will be treated as a partial prepayment.
WYOMING MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 8700L7 (0304}-MERS
GREA TLAND .
To Od..-Q¡ß: I-roO-530-~ 16-791-1131
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14. Notices. All notices 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 Borrower when
mailed by first claSs mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone
Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address
shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall
promptly notifY Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of
address, then Borrower shall only report a change of address through that specified procedure. There may be only one
designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it
or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to
Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until
actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the
Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument.
15. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law
and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security
Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly
allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against
agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with
Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given
effect without the conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter
words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
word "may" gives sole discretion without any obligation to take any action.
16. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
17. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 17, "Interest in the
Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
transfer of title by BOITower at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural
person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent. Lender may
require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be
exercised by Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of
not less than 30 days from the date the notice is given in accordance with Section 14 within which Borrower must pay all
sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender
may invoke any remedies pennitted by this Security Instrument without further notice or demand on Borrower.
18. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions. Borrower shall have the
right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale
of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law
might specifY for the termination of Borrower's right to reinstate; or (c) entry of ajudgment enforcing this Security Instrument.
Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the
Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenSes
incurred in enforcing this Security Instrument, as allowed under Applicable Law; and (d) takes such action as Lender may
reasonably require 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 Instrument, shall continue unchanged. Lender may require that Borrower
pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money
order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an
institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon
reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no
acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 17.
19. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together
with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a
change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security
Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable
Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the
WYOMING MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 8700L8 (0304}-MERS (page 8 oj 11 pages)
GREATLAND.
To Qd..- Q¡ J; 1-æ0-530-9393 L Floc 616-791-1131
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Loan Servicer, if required under Applicable Law, 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 the Loan is serviced by
a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with
the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise
provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or bejoined to any judicial action (as either an individual litigant or
the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the
other party has breached 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 Section 14) of such
alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action.
If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be
deemed to be reasonable for purposes of this section. The notice of acceleration and opportunity to cure given to Borrower
pursuant to Section 21 and the notice of acceleration given to Borrower pursuant to Section 17 shall be deemed to satisfy the
notice and opportunity to take corrective action provisions of this Section 19.
20. Hazardous Substances. As used in this Section 20: (a) "Hazardous Substances" are those substances defined as
toxic or hazardous substances, pollutants, or wastes by Environmental Law and the foHowing substances: gasoline, kerosene,
other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos
or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where
the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any
response action, remedial action, or removal action, as defmed in Environmental Law; and (d) an "Environmental Condition"
means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup.
Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or
threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do,
anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental
Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely
affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property
of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to
maintenance of the Property (including, but not limited to, hazardous substances in consumer products).
Borrower shall promptly give Lender 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 spilling, leaking, discharge, release or threat ofre1ease of any Hazardous Substance, and (c) any 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 remediation of any
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in
accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
21. 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 17
unless Applicable Law provides otherwise). The notice shaUspecify: (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 shaH further inform Borrower of
the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or
any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the
notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument
without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law.
Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 21,
including, but not limited to, reasonable attorneys' fees and costs of title evidence.
If 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 different, in accordance with Applicable Law. Lender shall give notice of the sale to
Borrower in the manner provided in Section 14. Lender shall publish the notice of sale, and the Property shall be sold
WYOMING MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 870019 (0304}-MERS
(page 9 of 11 pages)
~;fi~~I~mllij. :
GREATLAND.
18;-791.1131
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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, including, but not limited to,
reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
persons legally entitled to it.
22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security
Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under
Applicable Law.
23. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of
Wyoming.
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has
priority over this Security Instrument to give notice to Lender,at Lender's address set forth on page one of this Mortgage, of
any default under the superior encumbrance and of any sale or other foreclosure action.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in pages 1 through 11 of
this Security Instrument and in any Rider executed by Borrower and recorded with it.
TR~d£~ .~2 c~~
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-Borrower
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-Borrower -Borrower
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-Borrower -Borrower
Witness: Witness:
WYOMING MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC. @
ITEM 8700L 10 (0304)-MERS (page 10 of 11 pages)
GREATLAND.
To au..- CaB: l.aJo.530-9393 L P.oc 616-791-1131
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The foregoing instrument was acknowledged before me by TROY LEE MCAFFEE, CAREY LEA MCAFFEE
this 31 day of
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WYOMING MORTGAGE-Single Family-Secondary Lien
THE COMPLIANCE SOURCE, INC, @
ITEM 8700L11 (0304}-MERS (page 11 of 11
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GREA TLAND .
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