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Home My WebLink About917647 f::::B:?;:r.::N:~ ~':':':'¡~I:':':':':'~ co s:-3-- Mter reçording please return to: P&P Services, Ine. [Company Name] Attn: FUlfillrœnt Services [Name of Natural Person] RECEIVED 4/20/2006 at 4:17 PM RECEIVING # 917641 BOOK: 617 PAGE: 454 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 4400 Alpha Road [Street Address] Dallas, 'IX 75244 [City, Statf1 Zip Code] [Spacf1Abovf1 This Une For Recording Data] MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18,20 and 21. Certain roles regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated together with. all Riders- to this document. April 1-7, 2006 (B) "Borrower" is John St, Genrain, an unrrarried man . Borrower is the mortgagor under this Security Instrument. (C) "Lender" is Centerra M:Jrtgage Corporation k? ~J Lender is a corporation Oklahara Ste. 540, 'llilsa, OK 74135 Lender is the mortgagee under this Security Instrument. organized and existing under the laws of Lender's address is 4200 R. Skelly Drive, /7 11./ (D) "Note" means the promissory note signed by Borrower and dated April 1-7, 2006 The Note states that Borrower owes Lender tw:J hundred forty five thousand and NO!100ths Dollars (U.S. $ 245,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than May 1, 2036 . Loan No: 501-037774 Wyoming Mortgage-8ingIe Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 1 of 13 www~liancesoUlU.com Ilœll~~llmJlmllœ~~lmn Form 3051 01/01 1400lWY 08100 t02000, The Compliance So~ Inc.. d?- 0917647 COG455 (E) "Property" means the property that is described below under the .heading 'Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus .interest, lillY prepayment charges lilld late charges due under the Note, lilld all sums due under this Security Instrument, plus interest. (G) ''Riders'' means all Riders to this Security Instrument that are executed by Borrower. T1Ìefollowing Riders are to be executed by Borrower [check box as applicable]: o Adjustable Rate Rider o Balloon Rider o 1-4 Family Rider o Other( s) [specify] o Condominium Rider ª Planned Unit Development Rider o Revocable Trust Rider o Second Home Rider o Biweekly Payment Rider (H) "Applicable Law" means all controlling applicable federal, state lilld local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicableñnal, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all. dues, fees, assessments and other charges that arê imposed on Borrower or the Property by a condominium association, .homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order,instruct, or authorize a :financial institution to debit or credit lillaccount. Such term includes, but is not limited 10, point-of-sale transfers, automated 1eller machine transactions, transfers initiated by 1elephone, wire transfers, lilld automated clearinghouse transfers. (K) ''Escrow Items" means those items thatare described in Section 3. (L) "Miscellaneous Proceeds'; means any compensation, settlement, award of damages, or proceeds paid by lillY third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage 10, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (ill) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) ''RESPA'' means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its 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. A5 used in this Security Instrument, ''RESP A" refers to all requirements and restrictions that are imposed in regard 10 a "federally related mortgage loan" even if the Loan does 110t qualify as a "federally related mortgage loan" under RESP A. I.Dan No: 501037774 Wyoming Mortgage-Single Fanñly-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE,lNC.- Page2 of 13 www .corq>lWlccsourcecom III~ ~ IIIIIIIIIIIIIII!I~ I~ m!l~ 111III Form 3051 01101 14001WY 08100 02000, The Compliance Source, Inc. J> ... :~I"!:.···· :;1111: I:~ :11; " 0917647 C00456 (P) "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. 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 perfonnance of Borrower's covenants .and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant .and convey to Lender .and Lender's successors .and assigns, with power of sale, the following described property located in the County of Lincoln [Type of Recording Jurisdiction} [Name of Recording Jurisdiction} lot 6 of Star Valley Ranch Plat 9 I Lincoln County I Wyaning as described an the official plat thereof. which currently has the address of Thayne , Wyoming [City} 12 Vista Circle [Street} 83127 [Zip Code} (''Property Address"): TOGETHER WIlli 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 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 uniform 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, .Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, .and interest on, the debt evidenced by the Note .and any prepayment charges.and late charges due under the Note. Borrowershall.also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument:shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is 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 forms, .as selected by Lender: (a) cash; (b) money order; (c) certified check, loan No: 501037774 WyoßÙng Mortgage-Single FA111Ìly-F.IlDnie MaeJFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INCr- Page 3 of 13 www.co~lænccsource.comIW~I~lIWmWllmmUIOOI~II~ÐI , j,j.. ' -..,¡, ,~¡ ,. ;t{~~¡~'·i"·; ¡~t~Jlitl ::tili!~~ri;~ Form 3051 01101 14001WY 08/00 œooo, The Co~1iance Source, lnc. """'"..,',.;.~"~ ",.., ',. ~:IPÆilif&f~~~ .... ., /,,{tll~ ,¡::,:~.:.~:.f.;:::'.~.:.:~. :'::lj¡[~ 0917647 C00457 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. Payinents 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 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payinent insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payinents at the time such payinents are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. 1f Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security lnstrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payinents accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payinent from Borrower for a delinquent Periodic Payinent 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 Payinent is outstanding, Lender may apply any payinent Teceived from Borrower to the repayinent of the Periodic Payments if, and to the extent that, each payinent 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. Voluntary prepayments shall be applied first to any prepayinent charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in :full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payinent of Mortgage lnsurance premiums .in accordance with the provisions of Section 10. 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 amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow ltems 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 amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under I.oan No: 501037774 WyoDÚng Mortgage-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 4 of 13 www.co~lmnc.sourcecom 11~1;lmlmlll~ßŒiOOIIWllm Form3051 01101 1400lWY 08100 moDO, Th. Co~lianc. Source, Inc. ~ '" 0917647 COf458 Section 9 to repay to Lender llDY such 1UJlount. Lender may revoke the waiver as to llDY or All Escrow Items llt llDY time by II notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, llDd in such 1UJlounts, that are then required under this Section 3. Lender may, at any time, collect llDd hold Funds in an 1UJlount (a) sufficient to permit Lender to llPply the Funds at the time specified under RESP A, llDd (b) not to exceed the maximum 1UJlount II lender can require under RESP A. Lender shall estimate the 1UJlount of Funds due on the basis of current data llDd reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits 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 Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding llDd applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds llDd Applicable Law permits Lender to .make such a charge. Unless llD agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower llDY interest or earnings on the Funds. Borrower and Lender can llgree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, llD annual accounting of the Funds as required by RESP A. If there is a smplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess funds in llccordance with RESP A. If there js a shortage of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, llDd Borrower shall pay to Lender the 1UJlount necessary to .make up the shortage in accordance with RESP A, but in no more t:haJ,1l2 monthly payments. If there is II deficiency of Funds held in escrow,as defined under RESP A, Lender shall notify Borrower as required by RESP A, llDd Borrower shall pay to Lender the amount 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 llDY Funds .held by Lender. 4. Charges; Liens. Borrower shall pay llll taxes, assessments, charges, fines, and impositions llttributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, llDd Community Association Dues, Fees, llDd Assessments, if llDY. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) llgrees in writing to the payment of the obligation secured by the lien in II manner acceptable to Lender, but only so long as Borrower is performing· such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can llttain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the llCtiOns set forth llbove in this Section 4. Lender may require Borrower to pay II one-time charge for.a real estate tax verification 11I1d/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," llDd llDY other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the 1UJlounts (including deductible levels) llDd 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, loan No: 501037774 Wyoming Mortgage-Single Family-FJlnnie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPUANCE SOURCE, ]NC,- PJlge 5 of 13 www=~lianccsourœ.ÇQm 1IIIIIœ~~mlœlmml~OOlliWI~1 Form 3051 01101 14001WY 08100 <02000, The Co~1iancc Source, Inc. U~~~~ill (jS ': :"~~illf¡~li .'............ ..}::::~::::::::::::::::: ;~'JI¡! . .; ..~~ .: ~:; ~~~~ ~~~¡~f.~;¡~¡~ ~~~ ~~~ ~' ..,.:::*:::~:!.;::::::~::: 0917647 C00459 either: (a) a one-time charge for flood zone determination, certification 1md tracking services; or (b) a one-time charge for flood zone determination 1md 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 1mY fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from 1m objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, llt Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or 1lIDount 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 1lIDounts disbursed by Lender under this Section 5 shall become lldditional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums 1md renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause 1md shall name Lender as mortgagee 1md/or as 1m additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier 1md Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, 1mY 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 1md 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 1mY, paid to Borrower. Such insurance proceeds shall be applied.in the order provided for in Section 2. If Borrower abandons the Property, Lendermay file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby llssigns to Lender (a) Borrower's rights to any insurance proceeds in an 1lIDount not to exceed the 1lIDounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to 1mY 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. Occupancy. Borrower shall occupy, establish, 1md use the Property llS Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date pf occupancy, unless Lender otherwise agrees in 1..oan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT -THE COMPUANCE SOURCE, INC.- Page 6 of 13 www.co~liance.ourc.com mOOI~~lmIWlmn~II!OOm!Wmm ¡. Form3051 01101 14001 WY 08100 02000. Th. Co~Iìanc. Sourc., Inc. dS 0917647 (OC460 writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the 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 resicting 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. Ifinsurance 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 ~d 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. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice .at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleacting, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perfonn the covenants and agreements contained in this Security Instrument, (b) there is a legal proceecting that might significantly affect Lender's interest in the Property and/or rights under this Security lnstrument (such as a proceecting in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, 1hen 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, inclucting 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 priority over this Security lnstrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security lnstrument, inclucting its secured position in a bankruptcy proceecting. 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 builcting or other code violations or dangerous conditions, and .have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not .have to do so and is not under .any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or .all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and 5hall be payable, with such interest, upon notice from Lender to Borrower requesting payment. 1f this Security Instrument is on a leasehold, Borrower shall comply with 1111 the provisions of the lease. If Borrower .acquires fee title to the Property, the leasehold and the fee title shall not :merge unless Lender .agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making 1he Loan, Borrower shall pay the premiums required to maintain the Mortgage lnsurance in effect. If, for any reasOn, the Mortgage lnsurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance .and Borrower was required to make separately designated payments toward the premiums for Mortgage lnsurance, Borrower shall pay 1he premiums required to obtain coverage substantially equivalent to the loan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPUANCE SOURCE, INC.- Page 7 of 13 www.co~liancc.ource.comIIOO œOOm! ~~III~ ~m 00 mH~m! ~I Form 3051 01101 1400lWY 08100 02000, The Co~liance Source, Inc. r;!'¡..._,,'....¡.¡.;!..., t~:mì;iit.·'·'.·.·;J4 ~~181;~ ~ ·,:Æ~~:::]:J.:$:::·· . ,¡",¡.ji~t.':-.'¡i'i ,'~" '091. 764 7 C00461 Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage InsUrance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be 110n-refundable, notwithstanding the fact that the Loan is ultimately paid in :full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and :Borrower was required to make separately designated payments toward the premiums for Mortgage .Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage .Insurance ends in accordance with any written agreement between Borrower and Lender providing for such tennination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage .Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) .amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may . include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. 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 110t lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in 11 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. lfthe 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 I.oan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INc.- rage 8 of 13 www.comp.ÙInccJource.comIIOO 1IIIIm II~ 1IIIIIiWi I~ mml~lm Form 3051 01/01 14001WY 08100 02000, The Compliance Source, Inc. ~ .. 0917647 C00462 this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be 1ipplied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in v1ilue of the Property, the Miscellaneous Proceeds Bhall be 1ipplied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of 1i partial taking, destruction. or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction. or loss in value is equal to or greater than the mnount of the sums secured by this Security Instrument immediately before the partial taking,. destruction. or loss in value, unless Borrower and Lender otherwise 1igree in writing, the sums secured by this Security Instrument shall be reduced by the 1imount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction. or loss in value clivided by (b) the fair market value of the Property immediately before the partial taking, destruction. or loss in value. Any balance .shall be paid to Borrower. In the event of a partial taking, destruction. or loss in value of the Property in which the fair market v1ilue of the Property immediately before the partial taking, destruction. or loss in value is less than the amount of the Bums secured immediately before the partial taking, destruction. or loss in v1ilue, unless Borrower .and Lender otherwise 1igree in writing, the Miscellaneous Proceeds shall be 1ipplied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, 1ifter notice by Lender to Borrower that the Opposing Party (as defmed in the next sentence) offers to make an award to settle 1i claim for damages, Borrower fails to respond to Lender within 30 days 1ifter the date the notice is given, Lender is 1iuthorized to collect and 1ipply 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 PM1y" means the third party that owes Borrower Miscellaneous Proceeds or the party 1igainst whom Borrower has 1i right of 1iction 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.impainnent of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such 1i default and, if 1icceleration has occurred, reinstate.as provided in Section 19, by causing the action or proceeding to be dismissed with 1i ruling 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 1iward or claim for .damages that .are 1ittributable to the impainnent of Lender's interest in the Property .are hereby 1issigned.and shall be paid to Lender. All Miscellaneous Proceeds that are 110t 1ipplied to restoration or repair of the Property .shall be 1ipplied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of mnortization of the sums secured by this Security Instrument granted by Lender to Borrower or .any Successor in Interest of Borrower shall110t operate to release the liability of Borrower or .any Successors in Interest of Borrower. Lender shall not be required to commence proceedings 1igainst .any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify mnortization 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 1icceptance of payments .from third persons, entities or Successors in Interest of Borrower or in mnounts less than the .amount then due, shall not be a waiver of or preclude the exercise of .any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants .and 1igrees thatBorrower's obligations.and liability shaIlbe joint.and several. However, .any Borrower who co-signs this Security Instrument but does 110t 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 110t personally obligated to pay the sums secured by this Security Instrument; and (c) 1igrees that Lender .and .any loan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaeJFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INc.- Page 9 of 13 ~co~lianccsouree.oom mOOllmIWllmll~OOm~m!W~ Form 3051 01101 14001WY 08100 <02000, The Co~liance Source, Inc. r.:::~::~::::::::::::~ ~':t~::f::1::~:¡ ';I;:~ ,.'.,'.'~J<. i;~;i;;¡~mW;f¡:lm¡ilir 0917647 C00463 other Borrower can lIgree to extend, modify, forbear or make any lIccommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who lISsumes Borrower's obligations under this Security lnstrument in writing, and is approved by Lender, shall obtain 1111 of Borrower's rights IDld benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations IDld liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and lIgreements of this Security Instrument shall bind (except as provided in Section 20) IDld benefit the successors IDld lISsigns of Lender. 14. 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 IDld rights under this Security Instrument, including, but not limited to, attorneys' fees, property .inspection and valuation fees. In regard to IDlY other fees, the lIbsence of express lIuthority in this Security Instrument to charge 11 specific fee to Borrower shall not be construed liS 11 prohibition on the charging of such fee. Lender may not charge fees that Me expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to 11 law which sets maximum loan charges, IDld 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 mlount necessary to reduce the charge to the permitted limit; IDld (b) IDlY sums ilieady collected from 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 11 direct payment to Borrower. If a refund reduces principal, the reduction will be treated lIS 11 partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's lIcceptance of IDlY such refund made by direct payment to Borrower will constitute 11 waiver of IDlY right of action Borrower might have arising out of such overcharge. 15. 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 thís Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when lIctually delivered to Borrower's notice lIddress if sent by other means. Notice to IDlY one Borrower shall constitute notice to 1111 Borrowers unless Applicable Law expressly requires otherwise. The notice lIddress shall be the Property Address unless Borrower bas designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of lIddress. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report 11 change of lIddress through that specified procedure. There may be only one designated notice lIddress under this Security Instrument lit 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 IDlother address by notice to Borrower. Anynotice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If IDlY notice required by this Security Instrument is lIlso required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Seveubility; 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 IDld obligations contained in this Security Instrument Me subject to any requirements and limitations of Applicable Law, Applicable Law might explicitly or implicitly allow the parties to lIgree by contract or it might be silent, but such silence shall not be construed liS a prohibition ligainst ligreement by contract. In the event that IDlY provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not lIffect other provisions of this Security Instrument or the Note which can be given effectwithout the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean IDld include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural IDld vice versa; IDld (c) the word "may" gives sole discretion without any obligation to take IDlY lIction. 17. Borrower's Copy. Borrower shall be given one copy of the Note IDld of this Security Instrument. I.oan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 10 of13 wwwco~IWlcesourcecom mmlllllllmll~II~li~mOOW~I~W~~ Form 3051 01101 140D1WY DS/DD mooo, Th. Co~liance Source, In.. d> 0917647 C00464 18. Transfer of the Property or a Beneficial Interest in Borrower. Ai; used in this Section 18, "Interest in the Property" means lUlY 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 oftitIe by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person lUld 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 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Accelention. JfBorrower meets certain conditions, Borrower Mall have the right to have enforcement of this Security Instrument discontinued at lUlY time prior to the earliest of: (a) five days before sale of the Property pursuant to lUlY power of sale contained in this Security Instrument; (b ) such other period llS Applicable Law might specify for the tennination of Borrower's right to reinstate; or (c) entry of II judgment enforcing this Security Instrument. Those conditions llre that Borrower:. (a) pays Lender all sums which then would be due under this Security Instrument and the Note llS if no acceleration had occurred; (b) cures lUlY default of lUlY other covenants or agreements; (c) pays llll expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable llttomeys' fees, property inspection lUld valuation fees, lUld other fees incurred for the pwpose of protecting Lender's interest in the Property lUld rights under this Security Instrument; lUld (d) takes such llction llS Lender may reasonably require to liSsure that Lender's interest in the Property and rights under this Security Instrument, lUld Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums lUld expenses in one or more of the following forms, llS 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 lUl institution whose deposits Me insured by II federalllgency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument llnd obligations secured hereby shall remain fully effective as if no llcceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Pllyments due under the Note lUld this Security Instrument lUld performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There lllso might be one or more changes of the Loan Servicerunrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name lUld llddress of the new Loan Servicer, the llddress to which payments should be made lUld lUlY other infonnation RESPA requires in connection with a notice of transfer of servicing. If the Note is sold lUld 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 II successor Loan Servicer lUld Me not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to .any judicialllction (liS either .an individual litigant or the member of a class) that arises from the other party's llCtiOns pursuant to this Security Instrument or that lÙleges that the other party has breached lUlY provision of, or lUlY duty owed by reason of, this Security Instrument, until such Borrower or Lender Illis notified the other party (with such notice given in compliance with the requirements of Section 15) of such lllleged breach lUld 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 deeined to be reasonable for pwposes wan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaeJFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 11 of 13 www.eo~IUmcC5ourcecom IU~II~~m~IIß!~~WI~I~lmll~I~11 Form 3051 01101 14001 WY 08100 iC2000, The Co~lianc. Source, Inc. ~:::i~:::$;::ti;!¡!~: ~~M" ,:::::;;~·(;,;<;;kF:::::· ". ·",.·,·,¡·.·,·,..1'j1~<.. _ i:¡:;:;;;,!M::Q'~ó,::' ::t:.>' ~~~~: . ,',',.', ..,',,:. .:' :''''¡:¡¡¡~¡¡~~¡¡¡¡¡~J~~¡¡¡¡¡¡f::.'' '.,' , 0917647 C00465 of this paragraph. The notice of acceleration and opportunity to cure gíven to Borrower pursuant to Section 22 and the notice of acceleration gíven to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) ''Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fonnaldehyde, 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 pennit 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 nonnal 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, c.laim, 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 of release 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: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to .acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument .and sale of the Property. Tbe notice shall further inform Borrower of the right to reinstate .after acceleration and the right to bring a court action to assert the non-existence of a default or .any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of .all sums secured by this Security Instrument without further demand and may invoke the power of sale .and any other remedies permitted by Applicable Law. Lender shall be entitled to collect .all expenses incurred in pursuing the remedies provided in this Section 22, 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 15. Lender shall publish the notice of sale, .and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be .applied in the following order: (a) to all loan No: 501037774 Wyonúng Mortgage-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.-- Page 12 of 13 www~mplæncc.oUTCC,com mOOMlmllll~m~~OOlmWWIII Form30Sl 01101 14001WY 08100 102000, The Compliance Source, Inc, ò> 091.7647 C00466 expenses of the sale, including, but not limited to, reasonable .attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of .all sums secured by this Security lnstrument, Lender shall release this Security lnstrument. Borrower shall pay.any recordation costs. Lender may charge Borrower 11 fee for releasing this Security Instrument, but only if the fee is paid to 11 third party for services rendered .and the charging of the fee is pennitted under Applicable Law. 24. Waivers. Borrower releases and waives .all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNJNG BELOW, Borrower lIccepts .and .agrees to the te:rms and covenants contained in this Security Instrument and in lIny Rider executed by Borrower and recorded with it. Witnesses: ~.... John . (Seal) . -Borrower Printed Name: [please Complete] (Seal) -Borrower Printed Name: [please Complete] (Seal) -Borrower (Seal) -Borrower County of Lincoln [Space Below This Line For Acknowledgment] § § § State of Wyoming Before me the undersigned authority, on this day personally lIppeared John Bt. Germain known tome (or proved to me through.an identity card or öther document) to be the person(s) whose llaIDe is subscribed to the foregoing instrument, and lIcknowledged to me that he/she/they executed the same for the pmposes .and consideration therein expressed. Given under my hand and seal on this 17 day of April , 2006 -ÆecVuÆu·)!· ~~ Notary Public My Commission Expires: (Seal) GLDRIA K. BYERS· NOTARY PUBUC State of County of Wyoming Uncoln. . 2007 My CommissIon expires Sept. 15. 1Dan No: 501037774 Wyoming Mortgage-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.-- Page 13 of 13 www.a>~liancesource=m ml~lmllllll!~ml~mU~mll~ Form 3051 01101 14001WY 08100 C2000, The Co~liance Source, Inc. 0917647 ('00467 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this l7th day of .April, 2006 , wd is mcorporated :into wd shall be deemed to .amend wd supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date, given by the undersigned (the "Borrower") to secure Borrower's Note to Centerra Mortgage Cmporation (the same date wd covering the Property described :in the Security Instrument wd located at: l2 Vista Circle, 'Thayne, WY 83127 [Property Address) "Lender") of the The Property mcludes, but is not limited to, a parcel of land .improved with a dwelling, together with other such parcels wd certain common areas wd facilities, as described m Declaration of Covenants, Conditions, wd Restrictions (the "Declaration"). The Property is a part of a planned unit development known as: Star Valley Ranch [Name of Planned Unit Development} (the "PUD"). The Property also mcludes Borrower's interest :in the homeowners association or equivalent entity owning or managing the common areas wd facilities of the PUD (the "Owners Association") wd the uses, benefits wd proceeds of Borrower's :interest. PUD COVENANTS. In addition to the covenants and agreements made :in the Security Instrument, Borrower wd Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perfonn all of Borrower's obligations under thePUD's Constituent Documents. The "Constituent Documents" are the (i) Declaration; (ii) articles of mcorporation, trust :instrument or wy equivalent document which creates the Owners Association; wd (ill) wy by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due, all dues wd assessments .imposed purswmt to the Constituent Documents. B. Property Insurance. So long as the Owners Association maintains, with a generally accepted :insurance carrier, a "master" or "blanket" policy:insuring the Property which is satisfactory to Lender wd which provides :insurance coverage:in the .amounts (:including deductible levels), for the periods, wd against loss by :fire, loan No: 501037774 Multistate PÐD Rider- Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE,lNC.- Page 1 of 3 www.compJiancesource.com Fonn 3150 01/01 14S0IMU 08100 Rev. 11104 iC2004. The Compliance Source,lnc. IDlmIIIWlllælllœlml~gll~UIU J " 0917647 C00468 hazards included within 1he tenn "extended coverage," and my other hazards, including, but not limited to, earthquakes md floods, for which Lender requires insurmce, 1hen: (i) Lender waives the provision in Section 3 for1he Periodic Payment to Lender of1he yearly premium installments for property insurmce on the Property; md (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on 1he Property is deemed satisfied to 1he extent that 1he required coverage. is provided by 1he Owners Association policy. What Lender requires as a condition of this waiver can change during the tenn of the loan. Borrower shall give Lender prompt notice of my lapse in required property insurmce coverage provided by1hemaster or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, or to common areas and facilities of the POO, my proceeds payable to Borrower.are hereby assigned md shall be paid to Lender. Lender ßhall apply the proceeds to 1he sums secured by 1he Security lnstrument, whether or not 1hen due, with the excess, if my, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that 1he Owners Association maintains a public liability insurance policy acceptable in fonn, ronount, and extent of coverage to Lender. D. Condemnation. The proceeds of my aw.ard or claim for damages, direct or consequential, payable to Borrower in counection with my condemnation or other taking of all or my part of 1he Property or 1he common .areas and facilities of1he PUD, or for any conveyance in lieu of condemnation, .are hereby assigned md shall be paid to Lender. Such proceeds shall be applied by Lender to 1he sums secured by the Security lnstrument liS provided in Section II. E. Lender's Prior Consent. Borrower shall not, except lifter notice to Lender and with Lender'sprior written consent, either partition or subdivide 1he Propertyor consent to: (i) 1he abandonment or termination of 1he 1'00, except for abandonment or termination required by law in the case of substantial destruction by.fue or other casualty or in 1he case of a taking by condemnation or eminent domain; (ii) any ronendment to my provision of 1he "Constituent Documents" if 1he provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of 1he Owners Association; or (iv) any action which would have 1he effect of rendering 1he public liability insurance coverage maintained by 1he Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay 1'00 dues and assessments when due, 1hen Lender may pay 1hem. Any ronounts disbursed by Lender :under 1his paragraph F shall become additional debt of Borrower secured by1he Security Instrument. Unless Borrower and Lender agree to other terms of payment, 1hese amounts shall bear interest from 1he date of disbursement at 1he Note rate and ßhall be payable, with interest, upon notice from Lender to Borrower requesting payment. [Signatures on Following Page] Iœn No: 501037774 MultistatePUDRIder-SingIe Family -FannJeMaelFreddieMac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, lNc.- PJige2 of 3 www.compliancesourco.com .Form3150 01101 U50lMU 08100 R<v. 11104 C2004, The Compliance Source, Inc. lœ~mlmU~I~~mmllll~UlU J ~.:~.~L::.¡B ~iliæ~;¡¡~: 0917647 COC469 Rider. BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in this PUD ~.at ¡¡¡ st.Genrain (Seal) -Borrower (Seal) -Borrower (Seal) ~Borrower (Seal) -Borrower [Sign Original Only] IDan No: 501037774 MultistatePUDRJder- Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INc.- Page 3 of 3 www.campliancesource.cam Form 3150 01/01 1450lMU 08/00 Rev. 11104 C2004, The Compliance So=o,1nc. IIlImllllllßwm~IIIUIUlmlllll