HomeMy WebLinkAbout921762
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000707
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After Recording Return To:
Wells :Fargo Bank, N.A.
Attn: DocumentMgt.
J>.O.Box31557
MAC B6908-0U
.Billings, MT 59107-9900
RECEJVED 8/28/2006 lit 12:01 PM
RECE'VING:If. 921762
BOOK: 631 PAGE: 707
.JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
ISpace Above TJrlsLine For Recording Data]
Account11UJI1ber: 654-654-2879682-lXXX Reference 11UJI1ber: 200619975000U
\
LINE OF CREDIT MORTGAGE
\
DEFlNTIJONS
Words used :in ::multiple sectiOllS of this document .are .defined below .and other words .are defined elsewhere .:in 1his
document. Certain rules reprding the usage of words used.:in this DoC1.l1DeIlt.are.also provided.:in Section 14.
(A) ...Security Instrument~ :means this DOCument, w1úch is .dated AUGUST 11,2006, together with.all Riders to
1his document.
(B) "'Borrower~ is NANCY.R. STEVENSON AND KENT L. STEVENSON, WIFE AND HUSBAND, AS
TENANTS JJY THE ENTIRETIES. Borrower is the IDOI1£agor under this Security lnstrument.
(C) ....Lender~ is Wtills:FargoBank,N.A.. Lender is.aNBtionalBank organizedllIlCl:existingunderthelaws of the
United Stares of America. Lender's address is 101 North J>lùllips Avenue, Sioux:FJills, BD 57104. Lender is the
IDo11.gagee under 1his Security lnstrument.
(D) "'Debt Instrument~ means the loan .agreement or other credit instrument signed by Borrower .and .dated
AUGUST 11,2006. The Debt 1nstrument states that Borrower owes Lender, or:may owe Lender, 1II1 .amount that
.:may VlII)'::from time to time up to.a mllximnm principal sum ou1:st.anding.at 1II1Y one time of, THIRTY THOUSAND
AND OOllOOths Dollars (U.s. $ 30,000.00) plus interest. Borrower .has promised to pay 1his .debt .:in :Periodic
:P.ayments.and to pay the .debt.:in full not later than August 11. 2046.
(E) ....Property~:means the property that is .described below under the h~lIilin £ <'Transfer of Rights in the :PIOperty."
(F) "'Loan~:means.all .amounts owed .now or .hereafter under the Debt 1nstrument, inc1nilinß without limitation
principal, interest, .any prepayment char.ges, late char.ges .and other fees .and char.ges due under the Debt lnstrument,
.and .also .all sums due under 1his Security 1nstrument, plus interest.
(G) "'Riders".:means.all Riders to this Security lnstrument that.are executed by Borrower. The following Riders.are
to be executed by Borrower I check box liS .applicable]:
~ LeaseholdRider ~ :Home Asset ManagemenëM Account Rider
~ ThirdP.artyRider ~ Other(s) I-specify] NIA
(H) "APplicable Law~ :means .all controlling .applicable federal law .and, to the extent not preempted by feder.al
law, state.and local statutes, IeEUlatiOllS, ordinances.and IIrlministT.ative rules.and orders (that .have the effect of law)
I
WYOMING-OPEN-END SECURITY lNSTRUMENT (p£lge 1 of 13 pages)
BCWF#49v7 (3110/05) Documents Processed 08-10-2006,14;48:09
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000708
.as well.as .all.applicable.final, non-11ppealable judicial opinions.
(I) "'Community Association Dues, :Fees, .and Assessments'" means .all rlues, :fees, .assessments .and o.ther charges
:that may be .impo.sed on Bo.rro.wer o.r the Pro.perty by.a condnmiT1inm .asso.ciation, .homeo.wners .asso.ciation o.r s.imilar
m~ti~ ¡
(J) ....Electronic :FwulsTransfer'" means lI.I1y 1nmBÍer of funds, o.ther íhan 11irBDSaCtio.n originated by .check, dr.aft~
o.r s.imilar p11per .instrument, w.hich is IDitiated íbro.ugh lI.I1 electronic :terminal, telepho.nic .instrument, computer, o.r
.:magnetic tape so..as to. order, instruct, or .authorize 11 TImmc.ial institution 10. debit o.r credit lI.I1llCCo.unt. Such 1enn
includes, but is no.t limited 10., point-o.f-sale 1nmsfers, lilltomated teller mac.hiT1e irBDSaCtions, transfers IDitiated b~
telephone, wire irllD.SÍers, .and lill10mated demT1£house irllD.SÍers.
(K) -"Miscellaneous PIoceeds'" means my co.mpensation, .settlement, .awll1'd o.f damages, or proceeds paid by lI.I1y
1hird party (o.ther íhan insurance proceeds prod under the coverages described ID Section4) for: (i) .damage to, Dr
destruction o.f, the .Property; (ii) connemnatio.n or Dther taking o.f.all o.r my part o.f the .Property; (ill) conveyance ID
lieu Df cnnnemT1ation; o.r (iv) misrepresentations of, o.r Dmissions.as 10., the v1Ùue 1U1d/ or condition Df the .Property.
(L) "'Periodic P.ayment'" means the .amounts .as they become rlue fDrprincipal, interest .and o.ther charges .as
provided for ID the Debt lns1:rument. '
(M) "'SuccessoI in Interest of BOrIower~' means lI.I1y party:that lIas 1aken title 10 the Pro.perty, whether or nDt:that
party.has .assumed Borro.wer's Dbligations under theDebtJnstmment1U1d/orthis Security lnstrument.
TRANSFER OF RIGHTS lNTEE.P,ROPERTY
This Security lnstrument .secures to. Lender: (i) the Tepayment o.f the Loan, .and .all future .adVll.IlCeS, Ttmew.a1s,
extensians .and madifications afthe Debt lnstrument, indllninz lI.I1y :future .advances .made .at 11 time w.hen no.
indebtedness is currently.secured by this Securitylnst:ru:ment; .and (ii) the performance ofBorro.wer's cavenants .and
.agreements under this Security lnstrument .and the Debt lnstrument. Fo.r this purpase, Barrawer .does .hereby
mortgage, grant .and canvey to Lender .and lender'.s .successors .and .assigns, with pawer of sale, the follawing
described property lDcated ID the
County
IType af~carding JlIrisdiction]
o.f LINCOLN
IName o.fRt:cording Jurisdiction]
.BEGINNINGATIHE SOUTHEAST CORNER OF LOT 1,BLOCK21lNIHE TOWN OF AFTON,
LINCOLN COUNTY~ WYOMING,ANDBIJNNING THENCE WEST 10.RODS; THENCE NORTH 4
.RODS; THENCE.EAST 10 BODS; THENCE SODrn4 R.ODS TO IHEJ>LACE OF BEGINNING. SAID
:PARCEL OFLANDlS SITUATED ON IHE EAST ONE-HALF (El12) OF LOT 1JNBLOCK21lN SAID
TOWN OF AFTON, AS THE SAME lSJ>LATrED AND OF RECORD IN THE OFFICE OF THE
COUNTY RECORDER OF LINCOLN COUNTY, WYOMING.
32183031116900
w.hich currently.has the .address of
AFTON
{City]
444 JEFFERSON STREET
{Street]
, Wy01I1Îng 83110 ("Praperty Address"):
IZiP CDde]
TO~lliliR WIlli .all the :impravements nDW or .hereafter -erected on the· property, .and .all usements,
.appurtenances, .and :fixtures no.w o.r .hereafter a part of the praperty. All Tep1acements .and .additions shalllÙSD be
cDvered by this Security Instrument. All o.f the faregoing is Tclerred 10 ID this Security lnstrument.as the "'Property."
The Praperty shall.a1so include lI.I1y.additional praperty described ID Section20.
BORROWER COVENANTS that BorrDwer is lawfully .seised of the t:state .hereby conveyed .and lIas the
right 10. mortgage, grnnt.and convey the :PrDperty .and :that the .Property is unencumbered, except fortmc.J1m hTlID.CeS of
record 11S Dfthe t:xecution date Df this Security lnstrument. BDrrDwer w.ammts .and will defend Eenerally the title 10
WYOMING-OPEN-END SECURITY JNSTRUMENT
RCWF#49v7 (3/10105)
1IIIIImlDIDlIUIIIIDIIIIDIIII
(page2 of13 pages)
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000709
the Property .against.all daliIlS.and demands, .subject 10 myencumbr.ances of record.
1JNIFORM COVENANTS. Borrower .and Lender covenant and lI;gTee .as follows:
1. P.ayment of Principal, lnterest, Prep.ayment.and Other Charges. Borrower.shall pay when due the
principal of: and interest on. the debt evidenced by the Debt lnstrument .and my prepayment charges, late .charges
.and other charges .due under the Debt lnstrument. Payments due under the Debt 1nstrument .and this Security
.Instrument.shall be made.in U.S. clUTency. However, if.any check or other .instrument received by Lender.as
payment under the Debt .Instrument or this Security 1nstrument is returned 10 Lender ll1lpaÎd, Lender may require
that.any or.all subsequent payments due nnderthe Debt lnstrument.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, bank check,
.treasurer's check or cashier's .check, provided .any such .check is .drawn upon.an .institution whose deposits .are
insured by.a fedenù .agency, instrnmfmta lity, or ~ty; or (d) Electronic runds Transfer.
.P.ayments.are deemed received by Lender when received.at the location designated.in (or.in .accordance
with) the Debt .Instrument or .at .such other location .as may be designated by Lender .in .accordance with the notice
provisions .in Section 13. Subject to Applicable Law, Lender may return .any payment or partial payment if the
payment or partial payments .are iIlSuffident 10 bring the Loan cmrent. lender may .accept.any payment or partial
payment .insufficient 10 bring the Loan cmrent, without w.aiver of .any rights hereunder or prejudice 10 its Iights to
refuse .such payment or partial payments in the :future.
2. Application of P.ayments or Proceeds. Unless other procedures .are set forth in the Debt 1nstrument
or Applicablel..aw,Lendermay .applypayments.in.any order that Lender deems.appropriate.
Any .application of payments, .insur.ance proceeds, or Miscellaneous Proceeds 10 principal due under the
Debt lnstrument .shall not extend or pos1pone the due date, or .change the .amount, of the Periodic P.ayments.
3. Charges; Liens. BOITower.shall pay .all taxes, .assesmwnts, charges, fines, .and impositions
zttributable 10 the .Property which can .attain priority over this .security lnstrument, leasehold payments or ground
rents on the Property, if .any,.and Community Association Dues, rees,.and Assessments, if .any. BOITower .shall
promptly discharge.any lien which.has priority over this Security lnstrument lI11less Borrower: (a).has disclosed such
lien 10 Lender .at.application for1heLoan or lI;gTees.in writing to the payment of the obligation secured by the lienin
.a manner .acceptable to Lender, but only .so long .asBOITower is performing such lI;gTeement; (b) .contests the lien.in
good.:faith by, or deffmils.against enforcement of the lien in, legal proceedings which.in Lender's opinion operate 10
prevent the enforcement of the lien wlrile 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 lnSt:nunent. ]f Lender determines that my part of the Property is subject to .a lien that can .attain
priority over this Security lnstrument.and which w.as not disclosed on the application for the Loan that BOITower
provided to Lender, Lender may give Borrower .a notice identifying the lien. Within 10 .days of the .date on which
that notice is given, BOITower.shall satisfy the lien or:take one or more of the .actions .satisfactory to lender set forth
.above in this Section3.
Lender may require BOITower to pay .a one-time charge for .a real estate tax verification .and/or reporting
.service used by Lender in connection with this.Loan.
4. Property InsurJl.llCe. BOITower.shall Jœep the improvements now existing or .hereafter erected on the
Property .insured .against loss by fue, hazards included within the term ..extended .coverage," .and my other hazards
including, but not limited to, earthquakes .and floods, for which Lender requires .insur.ance. This insurance shall be
maintained.in the .amounts (including .deductible levels) and for the periods that Lender requires. What Lender
requires pursuant 10 the preceding sentences can .change .during the tenn of the Loan. T.he .insur.ance .carrier',
providing the insur.ance .shall be .chosen by BOITower subject to Lender's right to disapprove BOITower's .choice,
which.right .shall.not be exercised unreasonably. Lender may requireBOITower to pay, .in connection with this Lam,
either: (a) .a one-time charge for flood :zone determination, certification .and tracking services; or (b) .a one-time
charge for :flood :zone .detennination .and certification services .and subsequent charges :each time remappings or
similar .changes occur which reasonably might .affect such detennination or certification. Borrower.shall.also be
responsible for the payment of .any fees imposed by the rederal:Emergency Management Agency in connection with
the review of .any :flood:zone .detennination resulting :Úom.an objection by BOITower.
WYOMING-OPEN-END SECURITY INSTRUMENT
HCWF#49v7 (3/10/05)
1111101I101Ig100l11101III.111
(page 3 of 13 pages)
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0007.10
JfBorrower:fuils 10 mR1T1tR1T1 .any of the .coverages .described above, Lender may obtain :insur.ance coverBge,
lit L~er' s option.and Borrower' s ~xpense. Lender is under no obligation 10 purchase .any particular type or .amount
of coverBge. T.herefore, such coverage sha.ll cover Lender, but.might or .might not protect Borrower, Borrower's
equity in the.Property, or the contents ofthe.Property, .against.anyIisk,llazard or liability .and.mightprovidegre.ater
or lesser coverBge than was previously in :effect. Borrower .acknowledges that the cost of the insur.ance coverBge so
obtained :might .siguific.antly exceed the cost of insur.ance 1h.at .Borrower .could .have obtained. Any .amounts
.disbursed by Lender under íhis Section 4 Bha11 become .additional .debt of Borrower secured by this Security
lnstrument. These .amounts Bha11 bear interest at the :rate applicable 10 the Debt Instrument from time 10 time, from
the .d.ate of disbursement .and Bhall be payable, with such interest, upon notice from Lender 10 .Borrower :requesting
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payment. i .
All insur.ance policies required by Lender .and renewals of such policies Bha11 be subject 10 Lender's right to
.disapprove such policies, .shall include a standard mortgage clause, .and sha.ll MIlle Lender as mortgagee .and! or .as .an
.additional loss payee .and Borrower:further agrees 10 generally assign rights 10 insur.ance proceeds to the .holder of
the Debt lnstrument up to the .amount of the outstanding loan b.aIance. Upon Lender's :request, Borrower sha.ll
promptly give 10 Lender copies of all policies, renewal certificates, :receipts of paid premiums .and :renewal notices.
1£ Borrower obtains any form of insur.ance coverBge, not otherwise required by Lender, for damage to, or destruction
of, the .Property, such policy Bha11 include a standard mortgage clause.and Bha11 MIlle Lender .as mortgagee .and! or liS
.an1idditional Joss payee.and Borrower further ligrees 10 gener.ally .assign rights 10 insur.ance proceeds 10 the holder of
the Debtlnstrument up 10 the .amount of the outstanding loan b.aIance.
1n the event of Joss .and subject to the rights of .any lienholder with rights 10 insur.ance proceeds that .are
.superior 10 Lender's rights, the following provisions in this Section 4 .shallllpply. Borrower Bhall give prompt notice
10 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, lIllY :insur.ance proceeds, whether or not the underlying insur.ance
was :required by Lender, Bhall be applied 10 :restoration or :repair of the .Property, if the :restoration or :repair is
~conomically feasible .and Lender's security is not lessened. During such :repair .and restoration period, Lender .shall
.have the right 10 hold such :insur.ance proceeds until Lender has had .an opportunity to inspect such .Property 10
:ensure the work has been completed to Lender's satisfaction, provided that such inspection Bha11 be undertaken
promptly. Lender may .disburse proceeds for the :repairs .and restoration:in a single payment or:in li series of progress
payments liS the work is completed. Unless an .agreement is made in writing or Applicable Law requires :interest 10
be paid on such insur.ance proceeds, Lender .shall not be :required 10 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
insur.ance proceeqs .and .shall be the sole obligation of .Borrower. 1£ the :restoration or repair is not economically
feasible or Lender's security would be Jessened, the insur.ance proceeds Bha11 be applied 10 the sums secured by this
Security lnstrument, whether or not then due, with the -excess, if lillY, paid 10 Borrower. Such insurance proceeds
.shall be lippliedin the order provided forin Section2. I
lfBorrower lib.andons the .Property, Lender may.file, :negotiate.and settle .any liv.ailable :insur.ance claim.and
Telated matters. 1£ Borrower does not :respond within 30 .d.ays 10 li notice from Lender that the insur.ance carrier.has
offered 10 settle a claim, then Lender may :negotiate .and settle the claim. The 30-.d.ay period will begin when the
notice is given. 1n -either event, or if Lender .acquires the .PIOperty lJ.Ilder Section 2J or otherwise, Borrower hereby
.assigns 10 L::nder (a) Borrower's rights 10 lIllY insur.ance proceeds in .an .amount not to exceed the .amounts unpaid
under the Debt lnstrument or this Security Jnstrument,.and (b) .any other of Borrower' s rights (other 1han the right to
.any:refund of unearned preminm!'; :paid by Borrower) under .all insurance policies .covering the .Property, insofar .as
.such rights.are applicable 10 the coverBge of the .Property. Lender may use the insurance proceeds either 10 :repair or
Testore the .PIOperty or to pay.amounts unpaid under the DebtJnstrument or this Security lnstrument, whether or not
then due, subject to theIights of lIllY lienholder with rights 10 insur.ance proceeds that.are superior 10 Lender's rights.
:5. Occupancy. Borrower Bhall occupy, establish, .and use the ]>IOPerty as Borrower's principal :residence
within ÚO .d.ays .after the execution of this Security lnstrument .and sha.ll continue 10 occupy the .Property .as
.Borrower's principal :residence for lit least one year .after the .d.ate of occup.ancy, unless (a) Borrower has .disclosed 10
Lender at liPplication for the Loan 1h.at the .Property .shall not be Borrower's principal :residence; (b) Lender
otherwise .agrees in writing, which consent Bhall not be unreasonably withheld; or (c) unless f:Xt~T111Rting
circumstances :exist which.are beyond Borrower's control.
WYOMING-OP.EN-END SECURITY lNSIRUMENT
lfCWF#49v7 (3/10/05)
IlnlmœœtDlulBIUEDllDlIDUI
(page4 of13 pages)
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6. J>reserv.ation, MBintenance .and .Protection of the .Property; Inspections. Borrower.shall not
destroy, damage or impair the Fmperty, .allow the Froperty to deteriorlite or commit wliSte on the Property. Whether
or not Borrower is residing in -the Property, Borrower .shall maintain the .Property in order to prevent the Property
::from deterioniting or decreliSÌng in vAlue due to its condition. Unless it is detennined pursuant to Section.4 :thlit
repair or restorntion is not economically feliSible, Borrower .shall promptly repair the Froperty if damaged to llVOID
:further deteriorlition or damage. If insurnnce or cnnnp.mnation proceeds Me paid in connection with dæruige to, or
the Uiking of, the Froperty, Borrower .shall be responsible for rep1iÍring or restoring the Property only if Lender has
relelised proceeds for such purposes. Lender may disburse proceeds for the repairs .and restor1l1Íon in li .single
pliyment or in li series of progress pliyments liS the work is completed. If the insurliDCe or conðemnation proceeds
Me not sufficient to repair or restore the .Property, Borrower is not relieved of Borrower's obliglition for the
completion of such repair or restoration.
Lender or its agent may 1lliٜ reasOllilble entries upon and inspections of the Froperty. If it.has reliSonable
cause, Lender may inspect the interior of the .improvements on the Froperty. Lender.shall give Borrower notice at
the time of or prior to such an interior inspection specifying such reasonable C&lse.
ï. .Borrower's Loan Application. Borrower shall be in default if, during the LoanapplicB.tion 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 infonnation or stlitements to Lender (or failed to provide Lender
with materialmfonnation) in connection with the Loan. Material representations include, but Me not limited to, (li)
representations concerning Borrower's OCCUPliDCY of the Froperty as Borrower's principal residence .and (b) liens on
the Froperty:thlit have priority over tlús Security Instrument.
8. .Protection of Lender's Interest.in the .Property .and Bights Under this Security Instrument. If (li)
Borrower:fails to perfot:plthe covenants .and agreements cnntainp.n in tlús Security Instrument or any obligation :thlit
is secured by li lien:thlit is superior to tlús Security Jnstrument. (b) there is a legal proceeding that might sifllifi~antly
.affect Lender's interest in the .Property and/or Iights under this Security 1nstrument (such as II proceeding in
bankruptcy, probate, for cnnnemnation or forfeiture, for enforcement of any lien wlúch may llttain priority overtlús
Security lnstroment or 10 enforce Jaws or regulations), or (c) :Borrower.has llbandoned the Property, then Lender
may do .and pay £or whatever is reliSOllilble or .appropriate 10 protect Lender's interest in the Froperty .and :rights
under this Security lns1rument, including protecting and/or assessing the vAlue of the Pmperty. and securing and/or
:repairing the Froperty. Lender's actions can include, but Me not limited 10: (li) paying any.sums secured by lllien
w.hich has priority over tlús Security lnstrument; (b) appearing in court; .and (c) paying reasonable attorneys' fees to
protect its interest:in the Froperty .and/or Iights under 1his Security Instrument, including its secured position in a
bankruptcy proc~ding. Securing -the Froperty includes, but is not limited 10, ftlterinE the Froperty to 1lliٜ repairs,
.change locks, replace or board lip .doors and windows, drain wllter ::from pipes, eliminate building or other code
violations or dangerous conditions, .and .have utilities 1umed on or off. Although Lender may take action under this
Section 8, Lender does not .have to do so and is not under any duty or obligation to do so. It is agreed :thlit Lender
incurs no liability for not Uiking any or .all actions Bllfhori7.ed under this Section 8.
Any.amounts disbursed by Lender under tlús Section 8 shall become .additional debt of Borrower secured
by this Security lnstrument. These .amounts shall bear interest llt the rate applicable to the Debt lnstrument from
1ime to 1ime. ::from the date of disbursement .and .shall be pliyable, with such interest, .upon notice from Lender to
Borrower requesting payment.
If tlús Security lnstrument is on a leliSehold, Borrower .shall comply with.allthe provisions of the lease. If
Borrower acquires:fee title 10 the Froperty, the leliSehold and the £ee title .shall not merge unless Lender agrees to the
m.erger :in writing.
9. Assignment of Miscellaneous .Proceeds; Forfeiture. All Miscellaneous .PIoceeds Me .hereby
assigned to .and shall be paid 10 Lender. subject to the Tights of any lienholder with:rights 10 Miscellaneous .Pmceeds
:thlit Me superior to Lender's rights.
If the Froperty is damaged, such Miscellaneous .Proceeds shall be .applied to restoration or repair of the
Froperty, if the restoration or repair is economically :feasible .and Lender's security is not lessened. During such
repair .and restorlition period, Lender .shalll1ave the :right 10.hold such Miscellaneous FIoceeds until Lender .has .had
an opportunity to inspect such Froperty to -ensure the work.has been completed to Lender's satisfaction, provided
:thlit such inspection .shall be undertaken promptly. Lender may PliY for the repairs .and restor1l1Íon in a .single
disbursement or in a series of progress payments as the work is completed. U.n1ess an agreement is 1ruide in writing
WYOMING-OPEN-END SECURITY INSTRUMENT
HCWF#49v7 (3/10/05)
IIUllm.mID.mIß~lIlnIIBI"1111
(pilge 5 of 13 pages)
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00071.2
or Applicable law requires .interest to be paid on such Misccllaneous Eroceeds, Lender Bhall not be required to pay
:Borrower .any interest or eam.ings on Buch Miscellaneous Eroceeds. Subject to the:rights of .any lienholder with
:rights to Miscellaneous lToceeds :that me Buperior to Lender's :rights, jf the restoration or rep1iÏris not economically
:feasible or Lender' B Becurity would be lessened, the Miscellaneous J>IOceeds Bhall be .applied to the Bums Becured by
this Security lnstrument, whether or not then 1lue, with the excess, jf .any, paid to Borrower. Such Miscellaneous
J>roceeds Bhall be applied.in the order provided for .in Section2.
Subject to the:rights of .any lienholder with:rights to Miscellaneous Eroceeds :that lITe superior to Lender's
:rights,.in the event of a total taking, destruction, or loss.in value of the Eroperty, the Misccllaneous J>roceeds .shall be
applied to the .sums Becured by this Security Jnstrument, whether or not then 1lue, with the excess, jf .any, paid to
Borrower.
In the event of a partial taking, destruction, or 10Bs.in value of the J>roperty.in which the :fair:market value of
the J>roperty immediately before the partial taking, .deBtructiOn, or loss .in value is equal to or greater:than the amount
of the Bums secured by this Security Instrument immediately before the partial taking, liestruction, or loss .in v.alue,
.unless Borrower .and Lender otherwise .agree .in writing, the Bums Becured by this Security Instrument Bhall be
reduced by the amount of the Miscellaneous J>roceeds JIllÙtiplied by the following fraction: (a) the total amount of
the BumS secured immediately before the partial taking, liestruction, or loss in VMre divided by (b) the :fair :market
VMre of the Eroperty m,mp.clilltely before the partial taking, .destruction, or loss.in VMre. Subject to the TIghts of .any
lienholder with.rights to Miscellaneous Eroceeds that lITe superior to Lender's :rights, .any balance Bhall be paid to
:Borrower.
.In the event of a partial taking, destruction, or loss in value of the J>roperty .in which the :fair:market value of
the J>roperty :immediately before the partial taking, destruction, or lOBs .in VMre is less :than the amount of the sums
Becured immediately before the partial taking, destruction, or loss.in value, unless Borrower .and Lender otherwise
.agree .in writing, the Miscellaneous Proceeds .shall be applied to the .sums secmed by this Security Instrument
whether or .not the sums me then 1lue, Bubject to the:rights of .any lienholder with:rights to Miscellaneous J>roceeds
that me Buperior to Lender's:rights.
]f the J>IOperty is abandoned by Borrower, or i£ .after:notice by Lender to Borrower that the Opposing Party
(as defined in the:next Bentence) offers to:make.an award to Bettle a claim for damages, Borrower fails to respond to
Lender within 30 days after the date the notice is Eiven, Lender is lUlthorized to collect.and apply the Miscellaneous
Proceeds either to restoration or repair of the lToperty or to the sums secured by this Security lns1rumen1, whether or
:not then 1lue, subject to the TIghts of .any lienholder with :rights to Miscellaneous J>roceeds that me Buperior to
Lender's;riEhts. "Opposing Party" means the third party:that owes Borrower Miscellaneous Proceeds or the party
.against whom:BQITower.has a TIght of .action inreEard to MisccllaneousProceeds.
Borrower Bhall be .in default jf .any action or proceeding, whether civil or crimlnll 1, is begun that, .in
Lender' s jl1c\ßm~t, could result.in forfeiture of the Eroperty mother Tt18tf'TÌa 1 impairment of Lender' B .interest.in the
lTopertyor.rights under this Security Instrument. :Borrower l:an cme .such a default by causing the .action or
proceeding to be dismissed with a ru.ling that, .in.Lmder' B jllc\ßmp.nt, precludes forfeiture of the J>roperty or other
-matf'TÌa 1 impairment of Lender' B interest in the J>IOperty or.rights under this Security Instrument. The proceeds of
.anyawmd or claim for damages that me attributable to the impaTtm~t of Lender'B interest.in the J>roperty me
herebyassigned.and Bhall be paid to Lender.
All Miscellaneous Proceeds that lITe :not applied to restoration or repair of the Erop,erty Bhall be applied .in
the order provided for.in Section 2, Bubject to the:rights of .any li~ho1c1er with TIghts to Miscellaneous Eroceeds :that
lITe superior to Lender's.rights.
10. .Borrower NotReleased;.ForbearADce.ByLenderNot.a W.aiver. Fxten!;ion of the time for payment
or modification of amortization of the .sums Becured by this Security Instrument granted by.Lmder to Borrower or
.any Successor .in 1nterest of Borrower .shall not operate to release the liability of Borrower or .any Successors in
lnterest of Borrower. Lender Bhall not be required to commence proceedings .against .any SUCceBSor .in .Interest of
Borrower or to refuse to extend time for payment or otherwise modify amortization of the Bums Becured by this
Security Instrument by reason of .any demancl made by the original Borrower or .any Successors in .Interest of
Borrower. Any forbearance by Lender.in -exerc.i.sing .any TIght or remedy .including, without limitation, Lender's
.acceptance of payments from third persons, en.titieB or .succeBsorB .in1nterest of Borrower or in amounts less :than the
lUIlOunt then 1lue, .shall not be a waiver of or preclude the -exercise of .any TIght or remedy.
WYOMING-OPEN-END SECURITY INSTRUMENT
RCWF#49v7 (3/10/05)
IIUIDŒIUIBlmlDmUllUllDUllE
(piJge 6 of 13 piJges)
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11. Joint.and Bever.al Liability; Co-mortgagors; Buccessors J1Ud Assigns Bound. BorrDwer CDVenants
.and .agrees iliat BDrrDwer's Dbligations.and liability Bhall be joint.and several. BDwever,.any :BDrrDwer who. signs
this Security 1nstrument but dDes .nDt execute the Debt 1nstrument (a "co-mDrtgagDr"): (a) is signing this Security
In.strument only 10. .mDrtgage, gnmt.and convey the co-mortgagDr's interest in :the .PrDperty under :the 1erms Df this
Security In.strument; (b) is nDt personally Dbligated to. pay :the sums secured by 1his Security Instrument; .and (c)
.agrees iliat Lender.and.any Dther BorrDwer cml.agree to. ~xtend, mDdify, fDrbear Dr.malœ .any.accommDdatimlS with
Iegard 10. the terms Dfthis Security1nstrument Dr:theDebtInstrumentwithDut:the Co-.mDrtgagDr's consent.
Subject 10. the provisions Df Section 16, .any SuccessDr in 1nterest DfBorrDwer who. .assumes BorrDwer'S
Dbligations under this Security lnstrument in writing, .and is lipproved by Lender, Bhall Dbtain.all DfBDrrDwer's
:rights .and benefits under this Security 1nstrnment. BorrDwer Bhall.nDt be released frDm BDrrower's DbligatiDns.and
liability under this Security Instrument unless L-ender .agrees 10. such release in writing. The CDVenants .and
.agreements Dfthis Security Instrument Bhall hind (except liS provided in SectiDn 17).and benefit:the successDrs.and
.assigns DfLender.
12. Loan Charges. L-ender may charge BorrDwer Sees fDr services perlonned in connection with
BorrDwer's default, fDr the purpDse Dfprotecting Lender's interest in the :Property.and.rights under this Security
In.strument, including, but .nDt limited to., .attorneys' fees, property inspection .and valuation fees. 1n Iegard to. .any
Dther fees, the Absence Df express authDrity in this Security Instrument 10. charge A specific fee 10. BorrDwer Bhall.nDt
be construed as a prohibitiDn .Dn :the charging Df such fee. Lender may .nDt charge fees iliat lIIe expressly prohibited
by this Security lnstrument Dr by Applicable Law.
If the LDan is subject 10. A law which sets maximnm lDan charges, .and that law is finally intetpreted sO. that
the interest Dr Dther ID.an charges cDllected Dr 10. be collected in connectiDn with :the LDan cexceedthe pennitted
limits, :then: (a).any such lDan charge Bhall be reduced by :the .amDunt :necessary to. Ieduce:the charge 10. the pennitted
limit; .and (b) .any sums .already cDllected from BorrDwer which exceeded pennitted limits will be refunded 10.
BDrrDwer. Lender may chDDse 10. make this refund by reducing the principal Dwed under:the Debt Instrument Dr by
=akillg a direct payment 10. BDrrDwer. If a refund Ieduces principal, :the IeductiDn will be treated liS A partial
prepayment without .any prepayment charge (wl1ether or .nDt A prepayment charge is provided fDr under the Debt
In.strument). BDrrDwer's .acceptance Df .any .such refund :made by direct payment 10. BorrDwer will constitute a
w.aiver of .any right Df Action Borrower might have .arising Dut of such overcharge.
13. Notices. Unless otherwise described in the Debt In.strument or in .anDther .agreement between
:BorrDwer .and L-ender, :the following provisiDns regarding .notices BhallApply. All notices given by Borrower or
Lender in connection with this Security 1nstrnment must be in writing. Any.notice to BorrDwer in connection with
this Security lnsµument shall be deemed to have been given 10 Borrower when mailed by fust class mail or when
ACtually delivered 10. Borrower's .notice .address if sent by other.means. Notice to .any one Borrower shall constitute
.notice 10. .all BDrrowers unless Applicable Law expressly Iequires otherwise. Tl1e .notice .address Bhall be the
Property Address unless. Borrower has designated A substitute notice .address by.notice 10. L-ender. BorrDwer shall
promptly notify Lender of Borrower' s change of .address. If Lender specifies A procedure for reporting Borrower's
change of liddress, :then Borrower Bhall only Ieport a change of .address 1brough iliat specified ]>fDcedure. Tl1ere may
be only One designated notice .address fDr BorrDwer under the Loan At .any one time. Any notice to L-ender Bhall be
given by.delivering it or by =ailing it by::first class mail 10. Lender's .address .stated .herein unless Lender has
designated .another .address by notice 10. Borrower. Any.notice in connection with this Security In.strument shall.nDt
be deemed to. have been given 10. Lender until.actually received by Lender. If.any nDtice required by this Security
Instrument is .also. Iequired under Applicable Law, the Applicable Law requirement will satisfy the corresponding
Iequirement under this Security Instrument.
14. Governing Law; Severability; Rules of Coustrnction. This Security Instrument Bhall be governed
by federal law .and, to the extent .not preempted by federal law, :the law of the jurisdiction in which the .PIOperty is
located. All:rights.and ob~ations contained in this Security lnstrument lIIe subject 10. .any requirements .and
limitations Df Applicable Law. Applicable Lawmight explicitly or implicitly .allow the parties to .agree by contract
or it might be silent, but .such silence Bhall not be construed.as a prohibition against .agreement by contract. In:the
~vent that.any prDvision or clause Df this Security Instrument or:the Debt Instrument conflicts with Applicable Law,
such conflict Bhall.not .affect Dther provisions Df this Security lnstrument Dr:the Debt Instrument which can be given
effect without :the conflicting provision.
WYOMING-OPEN.,END SECURITY INSTRUMENT
HCWF#49v7 (3/10/05)
1IIIIOnDOIUIIIOIIIIKlllmn..I'.
(page 7 of 13 pages)
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As used :in íhis Security lnstrument: (11) words of 1he .:masculine ~ender .shall mean llIld include
.corresponiling neuter words or words of the femiTliTle gender; (b) words :in the .singulMshall :mean llIld :include the
plur.al .and vice verS1l; (c) the word "may" ~ives sole discretion without.any obligation to 1ake.any .action; llIld (d)
.headings that .appear .at the beginning of the sections of íhis .security lnstrument .are inserted for theconvenitmce of
the rmer. only, .shall not be .deemed to be.a part of this Security Jnstrum.ent, llIld .shall not limit, extend, or .delineate
the scope or provisions of íhis Security lnstrument.
.15. Borrower's Copy. Borrower shall be given one copy of the Debt 1nstrum.ent.and of íhis Security
Jnstrum.ent.
.16. Transfer of1heProperty or .a Beneficial Interest in Borrower. As used:iníhis Section 16, "Interest
:in the :Property" .means .any legal or benef'ici1ll interest :in the :Property, :including, but not limited to, :those beneficial
interests 1ransferred :in.a bond for deed, contI11ct for deed, :installment sales contr.act or escrow .agreement, the :intent
of which is the 1ransfer of title by Borrower .at.a future.date to.a pmchaser.
1£.all or .any part of the Property or .any Jnterest:in the Property is sold or tr.ansferred (or if Borrower is not .a
naturlli person llIld 11 beneficial interest :in Borrower is sold or 1ransferred) without Lender's prior written consent,
Lender .:may require .imm.edi1lte payment :in :full of .all .sums secmed by íhis Security lnstrument. However, this
option .shall not be exercised by Lender if such -exercise is prolúbited by Applic11ble Law. j
ITLender 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 .accor.cùmce with .section 13 within wJ1ichi
Borrower must pay .all sums .secmed by this .security lnstrument. IT Borrower fails to pay these .sums prior to the I
expiration of this period, Lender may invoke .any remedies pennitted byíhis Security lnstrument without further I
.notice or.demand onBorrower. I
.17. Sale ofDebtlnstrument; Change of Loan Servicer; .N otice of GrievJUlce. The Debt lnstrument or 11 i
partial :interest:in the Debt Jnstrum.ent (to~ether with this Security 1nstrum.ent) c.an be sold one or more times without ·
prior J10tice to Borrower. A sale might result:in.a change:in the entity (known.as the '100.an Servicer") that collects
:Periodic P11ymeníS due under the Debt lnstrument llIld íhis Security lnstrument .and perfonns other mortgage 10.an
servicing obligations under the Debt Instrument., íhis Security lnstrument,llIld AppliCBble Law. T.here.also might be
one or more changes of the La.an Servicer unrelated to .a sale of the Debt1nstrum.ent. If there is.a change of the Loan
Servicer, Borrower will be given written notice of the change.asrequired by Applicable Law. ITtheDebtlnstrument
is sold .and 1here11fter the La.an is serviced by .a Loan Servicer other than the pmchaser of the Debt 1nstrum.ent, the
mortga~e loan servicing obligations to Borrower will remain with the La.an Servicer or be 1rlm¿P.lTed to .a .successor
Loan Servicer .and .are not .assumed by the pmchaser of the Debt lnstrument unless otherwise provided by the
pmchaser of the Debt lnstrument.
Neither Borrower nor Lender may commeT1l~e, join, or be joined to .any judicial .action (.as either ..an
individual litigant or the member of.a class) that .arises from. the other party's .actions pmsuant to this Security
lnstnunent or that 1I.l1eges that the other party .has breached .any provision of, or .any duty owed by reason of, this
Security lnstrument, until such Borrower or Lender .has J10tified the other party (with .such notice given :in
compli:mce with the requirements of .section 13) of .such .a1le~ed breach .and .afforded the other party .hereto 11
reasonable period .after the giving of such notice to 1ake corrective .action. IT AppliCBble Law provides .a time period
that must elapse before certain .action c.an be taken, that time period will be .deemed to be reasonable forpmposes of
this pamgraph. TheJ10tice of .accelenrtionllIld opportunity to cme given to Borrowerpmsuant to Section2lllIld the
.notice of .acceler.ation ~iven to Borrower pmsuant to Section 16 .shall be .deemed to satisfy the notice llIld opportunity
to 1ake corrective .action provisions of this Section 17. ITBorrower.and Lender .have entered :into ..an .agreement to
..arbitrlite .disputes, the provisions of .any such .arbitnrtion .agreement .shall supersede .any provision in íhis Section 17
that would conflict with the .arhi1nItion .agreement.
.18. .Hazardous Substances. As used:in this Section 18: (11) "Hazar.dous Substances" .are :those substances
.defined.as toxic or .hazardous substances, pollutants, or w.astes by EnviroTlmeTltß 1 Law.and the follow:in.g substances:
~asoline, .kerosene, other flßmmßble or toxic petroleum. products, toxic pesticides llIld herbicides, volatile solvents,
.materials COTltßiTlinz .asbestos or fonnaldehyde, mold, .and radiOllctive .:materials; (b) "EnvirOTlment1! 1 Law' .means
federal laws llIld laws of the jurisdiction where the :Property is located that relate 10 .health, safety or mviroTlmeTltß 1
protection; (c) '~vironm.en1al Cleanup" :includes ..any response .action, remedial .action, or removal .action, .as
.defined :in Environmentß 1 Law; llIld (d) .an "~virOT11T1entß 1 Condition".means.a condition that can cause, contribute
10, or otherwise 1:J:igger .an EnviroTlmemtßl Oeanup.
! i
WYOMING-OPEN-END SECURITY JNSTRUMENT (page 8 of 13 pages)
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00071.5
Borrower shall not cause or pennit the presence, use, ilisposal, storage, or release of lIl1Y Hazardous
Substances, or threaten to release.any Hazardous Substances, on or in the Property. Borrower ßhall not do, nor .allow
l!11yone else to do, .anything illect:ing the Property (li) tlmt is in viohrtion of lIl1Y :EnvirOT1m~ntal Law, (b) which
creates lIl1 :Environmental Condition, or (c) which, due to the presence, use, or release of II Hazardous Substance,
creates II condition that .adversely .a:ffucts the value of the Property. The preceding two sentences ßhall not llpply to
the presence, use, or storage on the Property of .small quantities of Hazardous Substances that Me ~ener.ally
recognized to be llppropriate tononnal residential uses .and to maint~mmc.e of the Property (indudiTlf:, but not
limited to, hazardous substances in consumer products ).
Borrower ßhall promptly give Lender written notice of (li) lIl1Y investigation, claim, demand, lawsuit or
other ..liction by .any governm~nta 1 or regulatory .agency or private party involving the Property .and .any Hazardous
Substance or Environmental Law of which Borrower .has 1lCtua1. Jroowledge, (b) lIl1Y Environmental Condition,
including but not limited to, .any spilling, 1e1iking, 1lischarge, releliSe or threlit oÍIelease of lIl1Y Hazardous Substance,
l!11d (c) lIl1Y condition caused by the presence, use or release of II Hazardous Substance which .adversely illects the
v.a1ue of the Property. If Borrower learns, or is notified by lIl1Y governm~tal or regulatory .authority, or .anypriVllte
party, tlmt lIl1Y removliI or other remediation of .any Hazardous Substance illect:ing the Property is :necessary,
Borrower shall promptly íake 1111 necessary remedial .actions in .accordance with :Environmental Law. Nothing
.herein shall CTelite lIl1Y obligation on Lender for lIl1Environmental Cleanup.
19. Assignment of Leases JUld Rents. Borrower irrevocably gmnts, conveys, sells .and llssigns to Lender
llS .additional security: (li).all of Borrower's Tight, title.and interest in.and to lIl1Y .and.all existing or:future leases,
subleases, .and lIl1Y other written or verl>liI .agreements for the use .and occuPllllCY of .any portion of the Property,
including .any extensions, renew.a1s, modifiClitions or substitutions of such agreements (all referred to .as ·~eases"),
.and (b) 1111 of the rents, security deposits, issues .and profits.arising out of or earned .in connection with the Property
(.all referred to liS .'Rents").
Borrower will promptly provide Lender with írue .and correct copies of .all existing .and :future leases.
Borrower may collect, receive, -e1!Í oy .and use the Rents so long ..liS Borrower is not.in default under the terms of this
Security Jnstrument. Borrower agrees that this .assizrnn~nt is .ùmnedilitely effective between thepmties to this
Security lnstrument. Borrower agrees tlmt this .assignment is effective .as to third pmties when Lender íakes
affirmative .action prescribed by law, .and tlmt this .assignment will remain .in effect during .any redemption period
J.J111ilthe Loan is satisfied.
Borrower .agrees tlmt Lender may take .actual possession of the Property without the :necessity of
.commencingleEliI.action.and that.actual possession is deemed to occur when Lender, or its ßgent, notifies Borrower
of lIl1 event of default .and demands that lIl1Y tenant PliY .all future Rents directly to Lender. On receiving notice of.an
event of default, Borrower will endorse .and deliver to.Lender lIl1Y payment of Rents .in Borrower's possession .and
will receive lIl1Y Rents in ÍIUSt for Lender .and will not comminzle the Rents with lIl1Y other funds. Unless
Applicable Law provides otherwise, .all Rents collected by Lender or Lender's .agent ßhall be llPplied first to the
.costs of 1a.k:inEcontrol of .and managing the Property .and collect:ing the Rents, including, but .not limited 10,
llttomey's fees, receiver's fees, premiums on receiver's bonds, repair .and maintffl1anc.e costs, insurllllCe prfmlinms,
1axes, .assessments.and other charEes on the :Property, .and then to the sums secured by this Security lnstrument.in the
order provided for.in Section 2. 1£ the Rents of the Property .are not sufficient to cover the costs of taking control of
.and manazing the Property .and of collecting the Rents .any lIIDOunís disbursed by Lender for :such purposes shall
become .additional debt of Borrower secured by this Security Jnstrument. These lIIDOunís shall bear interest llt the
rlite llPplicable to the Debt lnstrument from time to rime, from the dlite of 1lisbursement .and ßhall be pliyable, with
such interest, upon notice from Lender to Borrower request:ingpayment.
Borrower w.arrants tlmt no default exists under the leases or lIl1Y..lipplicable landlord/tenant law. Borrower
.agrees 10 maintain .and require lIl1Y tenant to comply with the terms of the leases .and liPplicable law.
20. Condominiums; Planned Unit Developments. If the Property is li unit .in li condomininmproject
("Condominillm Project") or is part of II planned unit development e'PUD"), Borrower agrees to the following:
A. Obligations. Borrower shall penOIm.all of Borrower's obligations under the Constituent Documents.
The ·'Constituent Documents" .are the: (i) Declarlition or .any other document which crelites the Condominium
:Project or :PUD .and lIl1Y condominium .association, .homeowners .association or equiv.a1ent entity ("Community
Association"); (ii) lIl1Y by-laws or other rules or reEUlations of the Community Association; .and (iii) other equiv.a1ent
.docwnents. Borrower shall promptlypliY, when due, .all Community Association Dues, Fees,.and Assessments.
WYOMING-OPEN-END SECURITY .INSTRUMENT
HCWF#49v7 (3/10/05)
IIUlllMBllUamlUŒllmlDlIlDlIIIll1
(page 9 of13 pages)
DocmnentsProcessed 08-10-2006, 14;48:09
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00071.6
J3. Property. For units :in .a Condominium Pmject, the PIOperty :includes the unit:in., together -with .an
.undivided :interest:in the common elements of, the Condominium Project, .and Borrower' s :interest :in the Community
Association.and the uses, pIOceeds .and benefits of Borrower' s :interest. For PUDs, the Property .includes, but is not
limited to, .a parcel of land impIOved with.a dwelling, tOj5ether with other such parcels.and certain common.areas.and
facilities, as described:in the Constituent Documents, .andBorrower's:interest:in the Community Association.and the
uses, benefits.and proceeds ofBorrower's:interest.
C. Property lnsur.ance. So long .as the Commlmity Association -rnßintßim::, with .a j5ener.aIly.accepted
insur.ance carrier, .a ''master'' or "'blanket" policy:insuring the Property w.hich is satisfactory to lender .and which
provides insur.ance coverllge :in the .amounts (:inc.lud.in£; deductible levels), for the periods,.and lIgainst loss by £re,
.hazards :included within the term "extended coverllge," .and .any other .hazards, :inc.lud.in£;, but not limited to,
earthquakes .and floods, for w.hich Lender requires insurance, then Borrower's oblij5ation under Section 4 to
-rnßintßin property :insur.ancecoverllge on the Property is deemed satisfied to the extent that the required coverllge is
pIOvided by the Community Associatio11 policy. .Borrower ß1all give Lender prompt notice of .any lapse:in required
property insur.ance coverage provided by the :master or blanket policy. In the event of .a distribution of property
:insur.ance proceeds in lieu oÍIestoration or repair follow.Ïnj5 .a loss to the Property, wl1ether to the unit or to common
elements of the Condominium Project or to comm011 .areas .and facilities of the PUD, .any proceeds pay.able to
Borrower .are .hereby assigned .and shall be paid to Lender for .application to the sums secured by this .security
lnstrument, wl1ether or 110t then due, with the excess, if .any, paid to Borrower. subject to the:rij5hts of .any lienholder
with:rij5hts to insur.ance proceeds that.are superior to Lender's:rij5hts.
D. Public liability lnsurance.Borrower shall take such actions .as:may be reasonable to :insure that the
Community Associatio11 -rnßintßim¡ a public liability :insurance policy .acceptable .in form, .amount, .and ~t of
coverage to Lender.
:E. Cond~mnßtion. Tl1e proceeds of .any .aw.ard or claim for &mages, direct or consequential, pay.able to
Borrower .in connection -with.any cond~mnßtion or other 1.akÌ1115 of.all or .any part of thePIOperty. wl1ether of the unit
or of the common elements of the Condominium Project or the common.areas .and facilities of the PUD, or for .any
convey.ance .in lieu of condemnation, .are .hereby assigned .and ß1all be paid to lender, subject to the :rij5hts of .any
lienholder -with:rij5hts to .such proceeds that.are .superior to lender's :rights. .such proceeds ß1all be applied by
Lender to the .sums secured by the Security Instrument.as provided:in Section 9.
:F. Lender'.s Prior Consent. Borrower shall1lOt, except .after notice to Lender .and -with Lender's prior
written consent, cither partition or .subdivide the PIOperty or consent to: (i) the .abandonment or terminßtion of the
Condominium Project or PUD, except for .abßnðonm~nt or termination required by law .in the case of .substantial
destruction by :fi;re or other casualty or .in the case of .a ~ by conrl~mnßti011 or eminent domain; (ii).any
ßmfmrlment to .any provision of the Constituent Documents if the provision is for the express benefit of Lender;
(ill) termination of professional maJ1aj5ement.and assumption of self~g:ement of the Community Association; or
(iv).any .aCti011 w.hich would .have the t:ffect of renderÎnj5 the public liability insur.ance coverllge mßint!lined by the
Commlmity Association unacceptable to Lender.
G. Remedies. lfBorrower does not pay Cnmmnnity Association Dues, .Fees, .and AssesS111fmts when due,
then lender :may pay them, Any.amounts disbursed by lender under this paragraph G shall become .additional debt
of Borrower secured by this Security lnstrument. U11lessBorrower.and Lender .agree to other tenns of payment,
these .amounts shall bear :interest .at the rate .applicable to the Debt .Instrument from time to time, from the date of
disbursement.and shall be pay.able, with such interest, upon 110tice from Lender to Borrower requesting payment.
NON-UNIFORM COVENANTS. Borrower .and lender further covenant.and.agree as follow.s:
21. AccelerJltion; Remedies. Borrower will be .in .default if (1) .any payment required by the Debt
Instrument or 1his Security Instrument is not made when it is .due; (2) Lender .discovers ihatBorrower or .any
.co-applicant has committed fraud or made a material misrepresentation .in connection with the Loan; (3)
Borrower takes .any Jlction or fails to take .any Jlction ihat .adversely .affects Lender's r.ights under 1his
Security Instrument, .any of Lender's other security for the Debt Instrument, or .any right Lender has.in th~
:Property; or (4) Borrower is .an executive officer of Lender .and feder.allaw permits or requires Jmmediat~
payment of the Loan. If Jl .default occurs (other:than under Section 16 or under subsection (4) of 1his Sectio~
WYOMING-OPEN.,END SECURITY .INSTRUMENT
RCWF#49v7 (3/10105)
IlmmIIIllIIUIRŒUI[llllmBD..~.
(page 10 of 13 pages)
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0007.17
21, unless Applicable Law provides otherwise), Lender will give Borrower .notice specifying: (Jt) the deåult;
(b) the Jtction required to cure the default; (c) Jt date, .not less than 30 days from the date the .notice is given to
~orrower, by which the default must be cured; .and (d) that failure to cure the default ODor before the date
specified in the .notice .may result in AccelerAtion of the sums se£ur~ by 1his Security Instrument.and we of
the Property. If the default is .not cured on or before the date specified in the .notice, Lender Jtt 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 JUly other remedies permitted by Applicable Law. Lender .shall be
entitled to collect .all expenses incurred in pursuing the remedies provided in this Sectiou 21, including, but
.not limited to, reasoIUibJe Jtttor.neys' fees.and costs of title evidence. ¡
If Lender invokes the power of we, Lender .shall give notice of intent to foreclose to ~orrower .and to
I
the person in possession of the Property, if different, in Accordance with Applicable Law. Lender.shall giv~
.notice of the sale to Borrower in the manner provided in Section 13. Lender .shall publish the .notice of sale~
.and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its llesignee may
purchase the Property Jtt JUly we. The proceeds of the sale .shall be Jtpplied in the following order: (a) to .all
:expenses of the we, including, but not limited to, reasoIUible Jtttorneys' fees; (b) to.all sums secured by 1his
Security lnstrument; .and (c) JUly excess to the person or persons legally entitled to it.
22. .Release. Upon payment of.all sums secured by this Security 1nstrument.and 1erm:ination of line of .credit
.created by 1he Debt lnstrumen1,Lender .shall release this Security Jnstrument. Borrower.shall pay any reconlation
.costs. Lender.may .charge Borrower .a fee for releasing this Security 1nstrument, but only if the fee is paid to Jt íhird
party for services rendered.and 1he charging of 1he fee is permitted under Applicable Law.
23. WJÚvers. Borrower releases and w.aives.all:rights under and by virtue of the .homeSíeadexernption
laws of Wyoming.
:BY SIGNJNG .BELOW, Borrower .accepts and 1JgTees 10 1he tenns and .covenants .contained.in 1his Security
J:nstrument.and .inmlY Rider executed by Borrower and recorded with it.
~~
KENT L STEVENSON
NANìl~~l? ~
(Seal)
- Borrower
(Seal)
- Borrower
(Seal)
-:.Borrower
(Seal)
- Borrower
(Seal)
- :.Borrower
WYOMING-OPEN-END SECURITY .INSTRUMENT
liCWF#49v7 (3/10/05)
IlglllœWlIIUIUIUElllmBlmUUIII.
(page 11 of 13 pages)
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HCWF#49v7 (3/10/05)
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0007.19
State ofWyonring
County ofIlNCOLN
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TheforeEaIDgmstmmentwliS.acknowledgedbefore.mebyŸVtA L. 5~~~ ~ JJtUt.tl( R.S{~¿Jh
this II .day of A-~ìU,-t ,20tH, .
Witness.my.hand.and official.sea1.
.JAREDB..GJ..EUE- NOTARYPlJBLlC
COUNTY OF &\ BTATEOF
.LINCOLN _ WYOMING
MY COMMISSION EXPIRES OCT.24,2008
(bJA.L
N0r/Ublic
My CommissionExpires: Ocf.c.ber Zlf,'UJOr;:
WYOMING-OPEN.,END SECURITY INSTRUMENT
RCWF#49v7 (3/10/05)
1IIIIIUmlllllnIIDUIDIII'.
(page 13 of 13 pages)
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