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HomeMy WebLinkAbout918936 , r ~ 3 - -~- After Recording Return To: RECEIVED 5/31/2006 at 4:24 PM RECEIVING # 918936 BOOK: 621 PAGE: 693 JEANNE WAGNER LINCOLN COUNTY CLERK. KEMMERER, WY Decision One Mortgage Company. LLC 6060 LA. Jones Drive. Suite 1000 Charlotte. North Carolina 28287 [Space Above This Line For Recording Data] Loan Number 2100060561390 MIN: 100077910006411488 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 rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrumentll means this document, which is dated MAY 30, 2006, together with all Riders to this document. (B) "Borro~e" i TISS LITTLE, and SHANNON JUNKINS. Borrower is the mortgagor under this Security Instrument. ' (C) "MERS" is Mor gage 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 mortgagee 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, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is Decision One Mortgage Company, LLC. Lender is a LIMITED LIABILITY COMPANY organized and existing under the laws of NORTH CAROLINA. Lender's address is 6060 J.A. JONES DRIVE, SUITE 1000, CHARLOTTE, NORTH CAROLINA 28287. (E) "Note" means the promissory note signed by Borrower and dated MAY 30, 2006. The Note states that Borrower owes Lender ONE HUNDRED SIXTY-FIVE THOUSAND AND 00/100ths Dollars (U.S.$165,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than JUNE 1, 2036. (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument. plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: IXJ Adjustable Rate Rider D Condominium Rider D Second Home Rider IXJBalloon Rider DPlanned Unit Development Rider DOther(s) [specify] D 1-4 Family Rider D Biweekly Payment Rider WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 1 of 11 pages) 1111111111111111111111111111111111111111111111111111111 111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 :: ::::~~::::::::::;: ':;:;' .,'. ',' , . ....,/i'¡~illl· 091.8936 C00694 (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as aU 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 financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teUer 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 V.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, "RESP A" refers to aU 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. 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 Jurisdiction] SEE ATTACHED SCHEDULE "A" which currently has the address of 366 EAST 5TH A VENUE AFTON , Wyoming 83110 [Zip Code] , [City] WYOMING--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT 1111111111111111111111111111111111111111111111111111111 [Street] ("Property Address"): Form 3051 1/01 (page 2 of 11 pages) .II " ,.. "-'.-'-!- ~::- '. . , . ,'...-,'..'. '. " 09'1.8936 cor695 TOGETHER WITH all the improvements now or hereafter 'erected on the property, and all easements, appurtenances, and tìxtures 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 às the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary 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 tnstrument. 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 cov,enants 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. Borrower shall 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) certitìed 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. 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 15. Lender may return any payment or partial payment if the payment or partial payments are insuftìcient to bring the Loan current. Lender may accept any payment or partial payment insuftìcient 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 payments at the time such payments 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. If 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 Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments 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 tìrst 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 payment from Borrower for a delinquent Periodic Payment which includes a suftìcient 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 from 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. Voluntary prepayments shall be applied tirst to any prepayment 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 Hen 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 payment of Mortgage Insurance 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 WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 111111111111111111 1111111111111111111111111 Form 3051 1/01 (page 3 of 11 pages) "i 091.8936 CO(696 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 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 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 Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amoÙnt (a) sufficient to permit Lender to apply the Funds at the time specitïed under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance 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 specitïed under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds 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 Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as detïned under RESP A, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as detïned under RESPA, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a detïciency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the detïciency in accordance with RESPA, 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 Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, tïnes, 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. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain 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 actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax veritïcation and/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," 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 WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 1111111111111111111111111111111111111111111111111111111 Form 3051 1/01 (page 4 of 11 pages) ,,,,,,,,,-,, , , - ,:\;~:;~~~~~~m~/< ;!¡JI,¡~ Ai ~('.n,., Q) 9 ~t ,j .-"oJ it., Cor697 10 pay, in connection with this loan, either: (a) a one-time .charge for flood zone detennination, certification and tr1ìCking services; or (b) a one-time cl1Mge for flood .zone de1£:rmination and certification services ßIld subsequent charges e1ìCh time remappings or BiII1ililr changes occur which reasonably might .affect such de1£:rmina1Ìon or certification. Borrower shall also be responsible for the payment of ßIlY fees imposed by the Federal Emergency Management Agency in connection with the review of .any flood zone de1£:nnination resulting from an objection by Borrower. 1f Borrower fails to maintain .any of the coverages described 11bove, lender.may obtain insurance coverage, ill 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 pro1£:ct Borrower, Borrower' B 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 BO obtained might Eignificantly exceed the cost of insurance that Borrower could .have obtained. Any amounts disburBed by Lender under this Section 5 .shall become .additional debt of Borrower Becured by this Security lnstrument. These amounts shall bear in1£:rest 11t the NO1£: rate from the date of disbursement.and BhaJl be paY11ble, with Buch interest, upon notice from lender to Borrower requesting payment. All insur.ance policies required by Lender and renewals of Buch policies shall be Bubject to Lender's right to disapprove such policies, shall include a Btandard mortgage clause, .and shall name Lender liS 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 renew.al notices. 1fBorrower obtains anyfonn of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, Buch policy shall include 11 standard mortgage clause and shall name Lender as mortgagee and/or.as ßIl.additional Joss payee. 1n the event of lOBs, Borrower shall give prompLnotice 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 restorillion or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During Buch repair .and restoration period, Lender Bhall have the right to hold BUch insurance proceeds until Lender bas had.an opportunity to inspect such Property to ensure the work has been comple1£:d to Lender's satisf1ìCtion, provided that such inspection shall be undertaken promptly. Lender.may disburse proceeds for the r-epairs .and restonltion in a Bingle payment or in a series of progress payments as the work is completed. UnleBs .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 in1£:rest or earnings on Buch proceeds. Fees for public lldjuS1£:rs, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. 1f the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums Becured by this Security lnstrument, whether or not then due, with the excess, if.any, paid to Borrower. Such insurance proceeds shall be 11pplied in the order provided for in Section 2. 1f Borrower abandons the Property, Lender.may flie, negotiate.and Bettle.any available insurance claim and related matterB. If Borrower does not respond within 30 days to 11 notice from Lender that the insurance carrier l1as offered to settle 11 claim, then Lender may .negotiate.and settle the claim. The 30-dayperiod will begin wl1en the notice is given. 1n eitherevem, or if Lender .acquires the Property under Section 22 or otherwise, Borrower l1ereby .assigns to Lender (a) Borrower's rights to any insurance proceeds in .an amount not to fxceed the amounts unpaid under the No1£: or this Security lnstrument, .and (b) any other of Borrower's rights (other than the right to ßIlY refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar .as .such rights are applicable to the covfiage of the Property. Lender.may use the insurance proceeds :either to repair or restor-e the Property or to pay amount5 llllpaid under the No1£: or this Security Instrument, whether or not then .due. 6. Occup11ncy. Borrower shall occupy, establish, .and use the Property as Borrower'B principal residence within 60 days 11fter the execution of this Security lnstrument and shall continue to occupy the Property as Borrower's principal residence for 11t least one year after the date OfOCCllPancy, unless Lender otherwise agrees in writing, which consent .shall not be unreasonably withheld, or unless ext~nll ::!ting circumstances exist which are beyond Borrower's control. 7. Pn:!serv.ation, ~tenance .and Protection of the Property; lnspections. Borrower BhaJl not destroy, damage or impair the Property, lÙlow the Property to de1£:riorate or commit w.aste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from de1£:riorating or decreasing in value .due to its condition. Unless it is de1£:nnined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further .de1£:rioratÌon or damage. Jf 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 bas released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a .single payment or in 11 Beries of progress payments as the work is completed. 1f the insurance or cO]l(i~mnMion proceeds are not .sufficient to repair or restore the Property, Borrower is not relieved of Borrower'B obligation for the completion of such repair or restoration. WYOMING-Single 'F1lIJ1Îly-F.annie MaelFreddie Mac UNIFORM lNSTRUMENT I DI"~ DIIIII ~IIIIJI~IJI III~III~I DII I~~:::: :~::::~:::::: ~~ ¡¡;:1;~~ili~:3~~: Form 3051 1/01 (page 5 of 11 pages) <" ,f" n,Q""'89Jb ~ , ..:1 ...~. .. cnr698 Lender or its ligent 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, misleading, or inaccurate information or statements to Lender (or failed 10 provide Lender with material infonnation) 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 1U1d llights Under this Security Instrument. If (a) Borrower fails to perform the covenants and ligreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly mect Lender's interest in the Property and/or rights under 1his Security Jnstrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement ofa lien which 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 swns 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, 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 9, Lender does not have to do so .aOO 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 an10unts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These an10unts shall bear interest at the Note rate from the date of disbursement and shall be payable, witll such interest, upon notice from Lender to Borrower requesting payment. If this Security lnstrument 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 ligrees to the merger in writing. 10. Mortgage lnsur1U1ce. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay thepremiwns required to maintain the Mortgage Insurance 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 sepMately designated payments toward the premiwns for Mortgage lnsurance, Borrower shall pay the premiums required to ,obtain coverlige substantially equivalent to the Mortglige lnsurance previously in effect, .at a cost substantially equivalent to the cost to Borrower of the Mortgage lnsurance previously in effect, from an alternate mortglige insurer selected by Lender. If substantially equivalent Mortgage lnsurance coverage is not .available, Borrower shall continue to pay to Lender the an10unt of the separately designated payments that were due when the insurance coverlige ceased to be in effect. Lender will accept, lise and retain these payments as a non-refundable loss reserve.in lieu of Mortgage lnsurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, .and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the an10unt 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 towMd the premiwns 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 premiwns for Mortgage lnsurance, Borrower shall pay the premiwns required to maintain Mortgage lnsurance 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 termination or until termination is required by Applicable Law. Nothing in this Section lO mects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage lnsurance 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 ligreements with other parties :that .share or modify their risk, or reduce losses. These .agreements Me on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these .agreements. These ~"Teements may require the mortgage insurer to.make payments usÌll£ any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). WYOMING-Single Fllmily-F.annie MaeIFreddie Mac UNIFORM INSTRUMENT 11UIIIJ llJl UIIJ llJlJll1aJ JII]JIIJ ]IIJIIIUIIIJlllJI Form 3051 1/01 (page 6 of 11 pages) ,';.;,;.;.....;..,,'.. " .<".. '. -:,:5;'~::: ' r~ ' A.j ~q ""]" : It,~ 9 .t?.. '.__~ ,_.. tp (0('699 As 11 result of these .agreements, Lender, MY purchaser of the Note, Mother insurer, MY reinsurer, MY other entity, or MY llffiliate of MY of the foregoing, may receive (directly or indirectly) .amounts !hat 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 M affùiate of Lender takes 11 share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the l1Inmgement is often termed "captive reinsurance. " Further: (a) Any such agreements will not affect the amounts that Borrower !las 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 mtitle .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 l1ny other law. These rights may include the right to receive certain disclosurfs, to request .and obtain cancellation of the Mortgage Insurance, to lliIve the Mortgage Insurance 1erITÚnated l1utomatically, .and/or to receive 11 refund of l1ny Mortgage Insurance premillm~ that were unearned l1t the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds Me .hereby liSsigned to 1Ind sha1l be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be l1pplied to restonltÍon or repair of the Property, if the restoration or repair is economically feasible Md Lender's security is not lessened. During such repair Md restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had M opportunity to inspect such Property to ensure the work has been completed to lender's satisfaction, provided that such inspection shall be undertakenpromptly. Lender may pay for the repairs Md restoration in a 5ingle disbursement or in a series of progress payments as the work is completed. Unless M agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pl1Y Borrower any interest or earnings on such Miscellaneous Proceeds. If the restorl1tion or repair is not economically feasible or Lender's 5ecurity 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. In the event of 11 total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds.shall be l1pplied to the 5ums secured by this Security Instrument, whether or not then due, with the excess, if MY, paid to Borrower . In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the .amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower .and Lender otherwise agree in writing, the sums secured by this Security Instrument.shall be reduced by the .amount 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 divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance 5hall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the .amount of the sums 5ecured immediately before the partial taking, destruction, or loss in value, unless Borrower Md Lender otherwise .agree in writing, the Miscellaneous Proceeds shall be applied to the sums 5ecured by this Security Instrument whether or not the sums are !hen due. If the Property is l1b.andoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make .an aWMd to settle 11 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 restor1úion or .repair of the Property or to the sums 5ecured 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 ill default if .any action or proceeding, whether civil or criminal, is begun that, ill 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 c.an cure 5uch 11 default Md, if acceleration has occurred, reinstate liS provided ill Section 19, by causing the action or proceeding to be dismissed with a nùing !hat, ill Lender's judgment, precludes forfeiture of the Property or other materjal impainnent of Lender'.s interest in the Property or rights under this Security Instrument. The proceeds of .any award or claim for damages that Me l1ttributable to the impainnent of Lender's interest in the Property are .hereby assigned .and 5hall be paid to Lender. All Miscellaneous Proceeds that Me not l1pplied to restoration or repair of the Property shall be applied in the order provided for in Section 2. WYOMING-Single Fllmily-FIDIDie MaelFreddie Mac UNIFORM INSTRUMENT Illlllll ]111 m 1IIIIIIIllIII ]111111111111 Fonn 3051 1/01 (page 7 of 11 pages) :':'~~~I¡¡~j:: ill;:¡ ,'.'.'..,',',..'.'..,.,-.., , : :::~O::::::::::::::::;;::: -',',','..,.¡'.'.',',..', ..,......,..., , >:.;,;.;,:,:,:.;.;.:.;.; : : : ::;: ::;:::::¡: ;:;::::~;:: ',:::;::::::::::::::~:;:\ .' .¡:¡¡:~:¡:1~¡¡¡!¡¡¡:[¡·:': ',[;1\\[1111 I\r 1· ~24"H.:' ~,¡,.3_~.J,~ÙU C00700 12. Borrower Not Released; Forbearance By Lender Not a Waiver. .Extension of the time for payment or modification of 1Ul1ortization of the sums secured by this Security lnstrument granted by Lender to Borrower or any Successor in lnterest of Borrower shall not operate to release the liability of Borrower or lIl1Y Successors in lnterest of Borrower. Lender shall not be required to commence proceedings against lIl1Y Successor in lnterest of Borrower or to refuse to extend time for payment or otherwise modify 1Ul1ortization of the sums secured by this Security Instrument by reason of lIl1Y demand made by the original Borrower or lIl1Y Successors in lnterest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in lU110untS less than the 1Ul10unt 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 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 lnstrument; lIl1d (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 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, .and is approved by Leider, shall obtain all of Borrower's rights lIl1d benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations lIl1d liability under this Security lnstrun-íent unless Lender agrees to such release in writing. The covenants and agreements of this Security lnstrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services perfonned in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security lnstrument, including, but not limited to, attorneys' fees, property inspection lIl1d valuation fees. In regard to any other fees, 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 lnstrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, lIl1d that law is fInally interpreted so that the interest or other loan charges {;Ollected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; lIl1d (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing ilie principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, ilie reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's .acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any 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 lnstrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to l1ave been given to Borrower when mailed by first class mail or w.hen 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 lnstrument 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. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law lIl1d 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 contr.act. 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 lnstrument: (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 lIl1Y obligation to take any action. lì. .Borrower's Copy. Borrower shall be given one copy of the Note lIl1d of this Security lnstrument. WYOMING-Single 'Family-FllDDie MaeIFreddie Mac UNIFORM: INSTRUMENT I UIIIII 1111 11111111111111111 IIIJIIIIIIIII 11111 1I11 ßII Form 3051 1/01 (page 8 of 11 pages) 091893b CJr7Dl 18. Tnmsfer of the Property or II BeneficÙlI Interest in BOrrower. As used in this Section J 8, "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, contr1lCt for deed, .installment sales contr1lCt or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. lf .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 IDierest .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 lnstrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable law. lf Lender exercises this option, Lender shall give Borrower notice of 1ICceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in 1ICcordance 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 Accelerlltion. lf Borrowermeets certain conditions, Borrower shaH 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 a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays lender all sums which then would be due under this Security lnstrument and the Note as if no 1ICceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred.in t:nforcing this Security Instrument, .including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, .and other fees incurred for the purpose of protecting Lender's .interest in the Property and rights under this Security Instrument; and (d) takes such 1ICtion as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security lnstrument, .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 foHowing 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 n01lCceler.ation had occurred. However, this right to reinstate shall not apply.in the case of 1ICceleration 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 lJriornotice 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. lf there is a change of the Loan Servicer, Borrower will be given written notice of !he change which will state the.name and .address of !he new Loan Servicer, !he .address 10 which payments should be made .and any other information RESPA requires in connection with a notice of transfer of servicing. lf the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, !he mortgage loan servicing obligations to Borrower will remain with !he Loan Servicer or be transferred to a successor Loan Servicer and are not .assumed by the Note purchaser unless otherwise provided by !he Note purchaser. Neither Borrower nor Lender may commence, jo.in, or be joined to any judicial1lCtion (as t:ither an individual litigant or !he member of a class) that arises from !he other party's actions pursuant to this Security lnstrument 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 15) of such .alleged breach and 11fforded the other party hereto 11 reasonable period after the giving of such notice to take corrective 1ICtion. lf Applicable Law provides a time period which must elapse before certain 1ICtion can be taken, !hat time period will be deemed to be reasonable for purposes of !his paragr11ph. The notice of 1ICceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective 1ICtion provisions of this Section 20. 21. Hazardous Substances. As llsed in this Section 21: (ll) "Hazardous Substances" are !hose 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 r1idi01lCtive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that rel1ite to health, safety orenvironmentaI protection; (c) "Environmental Cleanup" includes any rt:sponse 1ICtion, remedial 1ICtion, or removal 1ICtion, as defmed in Environmental Law; and (d).an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. WYOMING-Single Fllmily-.F.annie MaelFri!ddie Mac UNIFORM INSTRUMENT I ]1111111111 Jill .:¡i:¡¡¡t~¡WIW" 11111 a~IIIIIII 11 all Form 3051 1/01 (page 9 of 11 pages) ~::::::::::::~:::::::~ ~~::;~lli£ ~ ,. ;';-;;;::';:;".' ·.'.",___-_d ...'",,:,:.¡ ¡f\,,' ':':j¡"~ 8~ab ,~~J .'1,. ~ CQG7P2 Borrower shall not cause or pennit the presence, use, disposal, storage, or release of 1I11Y Hazardous Substances, or threaten to release 1I11Y Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything mecting 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 mects 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 nOl1lla1 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) 1I11Y investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and 1I11Y Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) 1I11Y Environmental Condition, including but not limited to, any spilling, lea1cing, discharge, release or threat of release of any Hazardous Substance, 1I11d (c) 1I11Y condition caused by the presence, use or release of a Hazardous Substance which adversely mects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that 1I11Y removal or other remediatiön of 1I11Y Hazardous Substance affecting the Property is necessary, Borrower shall promptly 1ake all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create 1I11Y obligation on Lender for 1111 Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant1l11d agree as follows: 22. Acceler.ation; Remedies. Lender sha11.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 other\\ise). The notice shall specify: (a) the default; (b) the .action required to cure the default; (c) a date, not less than 30 days from the date the notice is .given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in .acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate.after .acceleration .and the right to bring.a court action to .assert the-TIon-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 5ale.and .any other remedies permi~ted by Applicable Law. Lender 5hall be entitled to collect.all fipenses incurred in pursuing the remedies provided in 1his Section 22, including, but not limited 10, 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 10 the person in possession of the Property, if düferent, in .accordance with Applicable Law. Lender shall give notice of the sale 10 Borrower in the .manner provided in Section 15. Lender shall publish the llotice 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 llpplied in the following order: (11) to.all expenses of the 5ale, including, but not limited to, reasonable .attorneys' fees; (b) to iÙI 5ums 5ecured 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 lustrument. Borrower shall pay 1I11Y recordation costs. lender may .charge Borrower a fee for releasing this Security lustrument, but only jf the fee js paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. .24. Waivers. Borrower releases 1I11d waives all rights underand by virtue of the homestead exemption laws of Wyoming. WYOMING-Single FlUIJily-F.annie MaeIFreddie Mac UNIFORM INSTRUMENT Illlll~ llllllllllllllllllllllll ~IIIIIIIIIIIII~lllll Form3051 1/01 (page 10 ofll pages) r-. Ai ~",II['1"'}"~' ~, ,~ 3 A.1'j ,'"J.J '01 C00703 BY SIGNlNG BELOW, Barrawer 1lCcepts m1d llgfees to. the terms .and .cavenants .canUlined in this Security Instrument and in any Rider executed by Barrawer and recorded with it. Witnesses: (Seal) -Borrower ~44 / TlSS LITTLE' .. - (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower [Space Below This Line For Acknowledgment] State af WYOM1NG Caunty af LinCOJn ss The faregoing instrument was 1lCknawledged befare me by KURTlSS LITTLE, lUld SHANNON JUNKINS this 30TH illly af MAY 1 2006. Witness my band and affIcial seal. (Seal) My Cammissian Expires: 9-15- 07 ~cVM~ GloTíaK.J3ye'I's (print or type name) GLORIA K. BYERS - NOTARY PUBLIC County of State .of lincoln Wyoming My Commission Expires Sept. 15,2007 WYOMING-Single Family-F.annie MaelFreddie Mac UNIFORM lNSTRUMENT I ßlII~ IIIIIIII~~B~IIIIIIII~III~II ~I ßII Form 3051 1/01 (page 11 of 11 pages) ü;}lS:KJb '~ 00704 Exhibit A :File 6010615197 Description The land referred to in 1his document is situated in the State of Wyoming, County of Lincoln, .and is described .as follows: Part of Lot 1 ofBlock2610 the Town of Áfton, Lincoln County~ Wyoming.as described.as .follows: Beginning.at.a point w.hich is the Northwest Corner of Lot 1 ofBlock26 to the Town of Áfton, Thence Bonth 20 rods; Thence..East 9 rods; Thence North 20 rods; Thence West 9 rods 10 the point of beginning. Illi' ¡, ~ '-, .. , fV:"~ ~ ~ì q "j J-) ~. .ff ...~ .1~. ',_ ~..; 11. ~ f" 0f"'1"'5 t. oJ.1 , U Loan Number 2100060561390 ADIDSTABLE RATE RIDER (LIBORlndex - Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 30TH day of MAY, 2006, 1I11disIDcorporatedint01l11d shall be deemed to.amend 1U1d supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of the same date .given by the undersigned (the "Borrower") to secure the Borrower's Note to DECISION ONE MORTGAGE COMPANY, LLC (the "Lender") of the same date 1I11d covering the property described in the Security lnstrument 1U1d located at: 366 EAST5TI:lAVENlffi, AFTON, WYOMING 83110 {property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE .BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME Al\TD THE MAXIMUM RATE THE .BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants 1I11d agreements made in the Security Instrument, Borrower and Lender further covenant 1U1d agree as follows: A. INTEREST RATE AND MONTHLY.PAYMENT CHANGES The Note provides for 1111 .initial interest Tate of 8.84%. The Note provides for .changes in the interest rate and the monthly payments, as follows: 4. lNTEREST RATE AND MONTHLY.PAYMENT CHANGES (A) Change Dates The interest Tate I will pay may change on the 1ST .day of JUNE, 2009, 1U1d on that day every sixth month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Dlite, my interest rlite will be based on an lndex. The "Index" is the liverllge of interbank offered rates for six-month U.S. dollar-denOl1lirulted deposits in the London market ("LIBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the first business .day of the month immediately preceding the month in which the Change Date occurs is called the "Current Index." lfthe lndex is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rille by adding SEVEN AND 84/100THS percentage points (7.84%) to the Current lndex. The Note Holder will then mundthe Tfsult of this addition to the nearest ollf~-eighth of one percentage point (0.125 %). Subject to the limits sUlted in Section4(D) below, this munded amount will be my new interest rate until the next Change Date. The Note Holder will then detenIÙne the ß.IDount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date lit my new interest rate in substantially fqual payments. The result of this calculation will be the new amount of my IDOnthly payment. MULTISTATE ADJUSTABLE RATE RIDER (LlBOR Index)-Single Family--Freddie Mac MODIFlED INSTRUMENT Form 31!12 1/01 (page] of 3 pages) 11111111 ~III~III ~IIIIIIIIIIII JIIII ~II JUIIIII Jill ·. IL"' Ir....)C J)::}1.~,=:J· <;..} C""'Ot"'/(6 . ~ ¡, ~j (D) Limits on Interest Rate Changes The interest ute I lUll required to pay llt the first Change Dß1e will not be greater than 11.84% or less than 8.84%. Thereafter, my interest rß1e will never be incre1lSed or decreased on 1IllY single Cillmge Date by more than ONE percentage point (1 %) from the rate of interest ] have been paying for the preceding sixIDonths. My interest rllte will never be greß1er than 14.84% or less than 8.84%. (E) Effective Date of Changes My new interest rl1te will become effective on each Change Dllte. 1 will pay the lUllOunt of my new monthly payment beginning on the fIrSt monthly payment d2.te .after the Change Dß1e until !,he lUllOunt of my monthly payment changes 1Igain. (F) Notice of Changes The Note Holder will deliver or mail to me 11 notice of 1IllY changes in my interest rl1te and the lUllOunt of my monthly payment before the effective d2.te of 1IllY L:hange. The notice will include informaÚon required by law to be given to me m1d 1ÙSO the title 1Illd telephone number of a person who will1lllswer 1IllY question I may have regarding the notice. .B. TRANSFER OF THE PROPERTY OR A .BENE1'lClAL INTEREST IN .BORROWER UnifoIID Covenant 18 of the Security Instrument is .amended to read 1lS follows: Tr.ansfer of the Property or.a .Beneficial Interest in..Borrower.As used in this Section 18, "Interest in the Property "me1lllS 1IllY legal cr 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 tr1lllSfer of title by Borrower l1t 11 future date to 11 purchaser. If 1ÙI or 1IllY part of the Property or 1lIlY Interest in the Property is sold or tr1lllSferred (or if 11 Borrower is 110t 11 natural person 1Illd a beneficial interest in Borrower is sold or tr1lIlsferred) without lender's prior WIitten consent, l..ender may require immediate payment in full of 1ÙI sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Liw. Lender 1ÙSO shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended tr1lllSferee 1lS if 11 new loan were being made to the tr1lllsferee; 1Illd (b) Lender re1lSonably detennines that Lender's security will not beimpaired by the loan 1lSsumption m1d that the risk of 11 breach of 1IllY covenant or RgIeement in this Security lnstruInent is accepmble to Lender. To the extent pennitted by Applicable Liw, lender may charge 11 reasonable tee l1S a condition to. Lender's'consent to the 101lIlllSsumption. l..ender may also require the tr1lllsferee to sign 1lIl 1lSsumption 1Igreement that is acceptable to Lender 1Illd that obligates the tr1lllSferee to keep 1ÙI the promises 1lIld 1Igreements made in the Note 1Illd in this SecurityInstruInent. Borrower will continue to be obligß1ed under the Note 1Illdthis Security Instrinnent unless Lender rele1lSf$ Borrower in writing. ]f Lender exercises the option to require irnmediatepayment in full, Lender shall give Borrower notice of liCcelera1Íon. The notice shall provide a period of not less than 30 d2.ys from the date the notice is given in accordance with Section 15 within which Borrower must pay llll sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke 1IllY remedies pennined by this Security lnstruInent without further notice or demand on Borrower. MULTlSTATE ADJUSTABLE RATElUDER (LIBOR lndex)-Single Fmnil}'-'Freddie MBc MODIElED INSTIHlMENT .Form 3192 1101 (page 2 of 3 pages) I JIIIIII all Jalll allll ma 11111111 JallJlall1ll Jill 091.8936 r00t"1t'7 .-' t U BY SIGNING BELOW, Borrower .accepts .and lIgrees 10 the tenns.and covenants contained in this Adjustable Rzte Rider. (Seal) -Borrower 0:J~ (Seal) -Borrower (Seal) -Borrower MlILTlSTATE ADJUSTABLE RATE.RIDER (LIBOR Index)-Single Family--Fr~cIie Mac MODIF1ED INSTRUMENT Form 3191 1/01 (page 3 of 3 pages) I UIIIII all lUll! UIIIIIIIII IIIJIIII 11111 JllII/111 ]111 ~,:,:j:':f:'l':" N':} ~~~;:;~:M;~::~:! " , ,'::::[~[\:¡?:¡l:::'" .,: :~:;:~:;~:i:~~:~i:~:¡:¡: """..,~,.., " Ü3í8~·KJ~) CQ07{S Loan Number 2100060561390 BALLOON PAYMENT RIDER TillS BALLOON PAYMENT RIDER ("Rider") is made this 30TH day of MAY, 2006, 1lIld shall be deemed to .amend .and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure the Borrower's Note to Decision One Mortgage Company, LLC ("Lender") of the same date 1lIld covering the property describeD in the Security lnstrument 1lIld locateD 11t: 366 EAST 5TH A VENUE, AFTON, WYOMING 83110 {Property Address] ADDITIONAL COVENANTS. In .addition to the covenants 1lIld llgTeements made in the Security lnstrument, Borrower and Lender further covenant.and llgree as follows: "TillS LOAN IS PAYABLE IN FULL AT MATURITY. YOU MUST REPAY THEENTllŒ PRINCIPAL BALANCE OF THE LOAN AND ill\1J>AID INTEREST THEN DUE. THE LENDER IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME. YOU WILL, THEREFORE, BE REQUIRED TO MAKE PAYMENT OUT OF OTHER ASSETS THAT YOU MAY O\VN, OR YOU WILL HAVE TOFlND A LENDER, WHICH MAYBE THE LENDER YOU HAVE TillS LOAN WITH, WILLING TO LEND YOU THE MONEY. IF YOU REFINANCE TillS LOAN AT MATIJRITY, YOU MAY HAVE TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW LOAN EVEN IF YOU OBTAIN lŒFJNANCING FROM THE SAME LENDER." Sections 4 C of the Adjustable Rate Note and Adjustable Rate Riller, second parllgfllph, Me .amended to read 11S follows: The Note holder will determine the .amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Interest Change date in full by JUNE 1,2046 11t my new illterest rate ill substaniliùly equal payments. The result of this clllculation will be the new .amount of my monthly payment. I understand that this I01lIl is a blllloon loan .and that if 1 pay only my monthly payments, I will have.a final blllloon payment due on the Maturity Date of JUNE~,2036. Balloon PlIyment Rider Page 1 of2 naA.i ~~4J.¡ab \1.., ~I"''f.;..·-- \_,; rJni"'1'g \., ~ L' t U At least ninety (90) but not more than one hundred twenty (120) days prior to the Maturity Date, Lender must send Borrower a notice which states the Maturity Date .and the .amount of the "balloon payment " (which is the :ei1tire unpaid principal balance of loan .and interest then due) which will be due on the Maturity Date (assuming all .scheduled payments due between the date of the notice .and the Maturity Date .are made on time.) Witness ~ ¥. ' - '¿J ~ K TlSSll1TIÆ . (Seal) -Borrower Witness (Seal) -Borrower Witness (Seal) -Borrower Balloon Payment Rider Page 2 0[2 fj!;:¡~:~:::;;::::f:::~ ~:í¡.tii"I·.t: .I'·II,. ~~!Mili:~j~:ì