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HomeMy WebLinkAbout921932 ..,...,".............,...... . .-":__'V'...·.·."'n""'_~·',,.,·,,·,,· . ,,',"','" . ,-;'...._....".....,. 7 l After RecDrding Return To.: RECEIVED 8/3012006 at 4:39 PM RECEIVING=# 921932 BOOK: 632 PAGE: 226 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Wells FMgD .Bm, N.A.-CDnstructiDn Lending 2701 Wells FMgD W2.y, MAC# X9999-OlT MinneapDlis, MinnesDta 55467 ISpace Above This.Line For .Recording Data] j r Lmm Number 0067847921 MORTGAGE DEFlNITlONS WDrds used ill :multiple .sectiDns Dfthis dDcument Me defined belDw.and Dther wDrds Me defmed ill Sections 3, 11, 13, 18,20 .and 21. Certain rules regMding the usage Df words used ill this dDCument Me 2.lsD provided ill SectiDn 16. (A) "Security lnstrument" me<m.s this dDcument, which is dated AUGU.ST 25,2006, tDgether with 2.11 Riders to. this dDcument. (B) ''ßOITower'' is TODD W. CLARK JUld PATRICIA LYNN CLARK, HUSBAND .AND WIFE . .BDrrDwer js the :mDrtgagDr under this Security lnstrument. (C) ''Lender'' is WELLS FARGO .BANK, N.A.. .Lender is 2. NATIONAL .BANKING ASSOCIATION Drganized.and ,existing .under the laws Df THE UNITED .sTATES OF AMERICA. .Lender'.s 2.ddress is 405 SOUTHWEST 3TH, DES MOINES, IOWA :50320. .Lender is the mDrtgagee under this Security 1nstrument. (D) "Note" means the promissDry nDte signed by .BDrrDwer .and dated AUGUST 25,2006. The NDte states that .BDrrDwer Dwes Lender TWO HUNDRED TEN THOUSAND.AND OO/lOOths DDllilrS (U .S.$210,000.00) plus .interest. .BDrrawer..has promised to. pay this debt ill regular Periadic P2.yments .and to. pay the debt.in full nat later than AUGUST 25,2007. (E) "Property" IDe<m.s the property that is described belaw .under the.heading "Tr<m.sfer afRights ill the Praperty." (F) ''Loan'' means the debt evidenced by the NDte, plus illterest, .any prepayment .charges.and late .charges due under the Nate, .and .all.sum.s due under this Security lnstrument, plus .interest. (G) "Riders" IDCmlS .all Riders to. this Securjty lnstrument that Me ,executed by.BarrDwer. The fDllDwing Riders.are 10. be ,executed by .BarrDwer Iclreck bax 2.S appliC<lble]: Ð Adjustable Rate Rider Ð Condominium Rider Ð.BallDDn Rider ÐPlanned Unit Develapment Rider Ð 1-4 F2.IIlÌ.1y Rider Ð.Biweek1y Payment Rider ÐSecand Harne Rider JX Other(s) I specify] Manufuctured Harne Rider Constructio.n Loan Rider (II) "Applicable Law" means 2.11 controlling 2.pplicable feder2.1, .state .and lDcal .statutes, regulations, Drdinances .and :j(imini~trative rules.and arders (that have the effect Df law) as well2.S 2.1l2.pplicable final, nDn-2.ppe2.1able judicial op.inions. WYOMING-Single F.amily-Fannie .MaelFreddie.Mac 1JNIFORM INSTRUMENT Form 3051 1/01 (page 1 of 11 pages) I '·";';~"'U""'·I~""'''''''''dd!>.~_~,-,,:;_ .'~;:"",-..~.','í.<c~"£...,,; '_,;.;..:.o;-o:a:~.o:'""'.-...,.' <. f._.._.....,~,:___~.."-·_,,"""tt..,,\-_-~,,....··,..,·,·,·.,·,! _ """'_ .. 000227 (I) "Community Association Dues, Fees, JUld Assessments" means lÙl .dues, fees, æ¡se.ssments.and other cl1arges that Me imposed on Borrower or the Property by a condominium .association,homeowners .association or .similar organization. (J) "Electronic Funds Transfer" means .any tr.ansfer of funds, other 1han a tr.ansaction originated by clleck, Lir.aft, or .similar paper instrument, w.hich is .initi.ated through .an electronic œrmin:ll, telephonic instrument, computer, or magnetic tape.so æ¡ 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 tr.ansfers, .aµtomated teller machine tr.ansactions, tr.ansfers .initiated by telephone, wire tr.ansfeIS, .and .automated clearinghouse tr.ansfers. (K) ''Escrow Jtems" means those items that Me described .in Section 3. (L) "Miscellaneous Proceeds" :me.ans .anycompen.sation, .settlement, aWMd 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,1he Property; (ii) condemnation or other taking of lÙl or .any p.art of the Property; (iii) convey.ance.in lieu of conrlemn:ltion; or (iv) :misrepresentations of, or omissions æ¡ to, the v.alue .and/or condition of the Property. (M) "Mortgage InsurJUlce" means insur.ance protecting.Lender .against the :nonpayment of, or default on, the .Lo.an. (N) "Pedodic .Payment" :me.ans the regularly .sclleduled amount due for (i) principal.and .interest under the Note, plus (ii).any amounts under Section 3 of this Security .Instrument. (0) ''RESPA'' means the Real Estate Settlement Procedures Act (12 V.S.C. :§2601 et.seq.).and its implementing regulation, Regulation X (24 C.F .R. P.art 3500), æ¡ they might be .amended from time to time, or.any additional or successor legislation or regulation that governs the .same .subject matter. .Aß used.in this Security .Instrument, "RESPA" refers to lÙl requirements and restrictions that are imposed .in regard to a "federally related mortgage loan" even if the.Loan does not qualify æ¡ a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Bon-ower" means .any party that has taken title to the Property, whether or not that party has æ¡sumed Borrower's obligations under the Note .and/or this Security .Instrument. QÛ"""1°"Þ"',þ ..:¡¡<.." ..~u~ TRANSFER OF RIGHT.s IN THEP.ROP.ERTY This Security .Instrument .secures to .Lender: (i) the repayment of !he .Loan, .and lÙl renew.als, extensions .and modifications of the Note; .and (ii) the perfonnance ofBorrower'.s covenants.and .agreements under this Security .Instrument .and the Note. For this purpose, .Borrower does .hereby mortgage, ..grant.and convey to .Lender .and .Lender's .successors .and æ¡signs, with power of .sale, the following described property located .in the County of LINCOLN IType of Recording Jurisdiction] IName of Recording Jurisdiction] BEE RXIDRIT "AI' ATTACHED.HERETO AND MADE A .PART .HEREOF FORALL.PURPOSES w.hicl1 currently.has the address of LOT 2 REDTOP SUBDIVlSION rScreet] (n Property Address"): BMOOT , Wyoming 83126 IZip Code] r City] WYOMING-.single F.amily-Fannie MaelFreddie Mac UNIFORM lNSTRUMENT Form 3051 1/01 (page 2 of 11 pages) ~m~¡~i;mf~~;~f~~' . I i ".....~...JL.~_..,...~_._~~ ,,,.,~,~' ""_"_ i I II TOGETHER WITH .al1the improvements naw ar .hereafter erected an the praperty, .and.all easements, .appurtenances, .and fixtures naw or .hereafter .a part af the property. All replacements .and .additians shall alSo. be cavered by this Security .Instrument. All af the faregaing is referred to. ..in this Security .Instrument as the "Praperty." .BORROWER COVENANTS that .Borrawer .is lawfully seised af the estate .hereby canveyed .and.has the .right to. martEage, p-.ant .and convey the Praperty .and that the Pmperty is unencumbered, except for encumbrances af record. Barrawer WmT.ants .and will defend generally the title to. the Praperty .against all claims.and demanns, subject ta.any encumbr.ances af record. TillS SECURITY INSTRUMENT cambines unifann cavenants far natianal use.and nan-unifann cav~ts with limited v.ariations by jur.isdictian to. canstitute .a unifann .security .instrument caverinE real property. UNIFORM COVENANTS. .Barrawer .and Lender cavenant .and ligree .as fal1aws: 1. Payment of Principal, lnterest, Escrow Items, Prepayment C.harEes, and Late C.harges. Barrawer shall pay w.hen due the principal af, .and ..interest an, the debt evidenced by the Nate.and.any prepayment charges.and.late cluirges due under the Nate. Barrawer shall .also. PliY funds far Escrow Items pursuant to. Sectian 3. Payments due under the Nate.and this Security .Instrument shall be made in U.S. currency. Hawever, if .any check or ather instrument received by Lender .as payment under the Nate ar this Security .Instrument is returned to. Lender unpaid, .Lender may require that .any ar .all subsequent payments due under the Nate.and this Security .Instrument be.made..in ane or mare af the fallawing farms, .as selected by.Lender: (li) cash; (b) .money order; (c) certified cl1eck, bank cl1eck, treasurer's cl1eck Dr cashier's check, provided.any such .check.is drawn Upon.an institutian w.hase depasits .are insured by .a federalligency, ..instrumentality, ar entity; ar (d) Electranic Funds Transfer. Pliyments .are deemed received by Lender w.hen received at the lacatian designated..in the Nate ar .at such ather lacatian.as may be designated by .Lender in .accardance with the natice prov.isians in Sectian 15. Lender may return any payment ar partial payment if the payment Dr partial payments .are insufficient to. bring the Loan current. Lender may .accept .any payment ar partial payment insufficient to. bring the Loan current, withaut waiver af any rights .hereunder ar prejudice to. its rights to. refuse such payment or partial payments ..in the future, but Lender.is no.t abligated to. lipply such payments lit the time such payments Me .accepted. If £aCh Periadic P.ayment .is lipplied as af its scheduled due date, then Lender need nat pay interest on llIlapplied funds. .Lender may .hald .such llIlapplied funds until Barrawer :malœs payment to. brinE the Loan current. If Barrawer daes nat do. sa within .a reasanable periad af time, .Lender shall either lipply such funds ar return them to. Barrawer. Jf nat .applied eMlier, such funds will be applied to. the DutstandinE princip.al b.alance under the Nate immedUltely prior to. foreclasure. No. Dffset ar claim w.hich .Barrawermight .have naw ar in the future .aEainst .Lender .shall relieve Barrawer fram .making pliyments due under the N ate .and this Security .Instrument Dr perfarming the cavenantsand .agreements secured by this Security .Instrument. 2. Applicatiop of Payments or Proceeds. .Except as Dtherwise described in this Sectian 2, .all payments .accepted.and .applied by Lender .shall be lipplied..in the fallawing arder af priarity: (li) ..interest due under the Nate; (b) principal due under the Nate; (c) .amaunts due under Sectian 3. Such payments shall be .applied to. eliCh Periadic Pliyment in the Drder..in w.hich it bec.ame due. Any remaining .amaunts shall be lipplied fust to. late charges, secand to. any ather .amaunts due under this Security .Instrument, .and then to. reduce the principal bal.ance af the Nate. If .Lender receives .a pliyment fram Barrawer far li delinquent Periadic P.ayment w.hich ..includes li sufficient .amaunt to. PliY .any late charge due, the payment may be .applied to. the delinquent pliyment.and the late charge. Ifmare than ane Periadic Payment is autstandin£;, Lender may .apply .any payment received fram Barrawer to the repayment afthe PeriadicPayments 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 pliyment af ane ar mare Periadic Payments. such excess may be .applied to. .any late char£;es due. V aluntary prepayments shall be .applied fust ta.any prepliyment char£;es.and then.as .described in the Nate. Any .applicm:ian af payments, insur.ance proceeds, ar Miscellaneaus Proceeds to. principal due under the Nate.shall nat extend ar pastpane the due date, ar .change the .amaunt, af the Periadic Pliyments. 3. Funds for .Escrow Items. Borrawer .shall pay to. Lender an the day Periadic Payments.are due under the Nate, .until the Nate is paid in full, li sum (the "Funds") to provide far payment af lilllaunts due far: (.a) taxes.and assessments.and ather items w.hich can littain priarity aver this Security .Instrument .as .a lien or encumbr.ance an the Praperty; (b) leasehald payments ar graund rents an the Praperty, jf .any; (c) premiums for .any .and .all insurance required by Lender under Sectian 5;.and (d) Martgage Insurance premiums, if .any, ar .any sums pay.able by Barrawer to. .Lender..in lieu af the payment af Manga£;e .Insurance premiums ..in liCcardance with the pIOv.isions af Section 10. T.hese items Me c.alJed ffEscraw ltems." At originatian ar .at.any time during the tenn afthe Loan, .Lender may require that Cammunity Assaciatian Dues, Fees,..and Assesmlf~nts, if .any, be .._.".....-..................~._. . .·.__..."""''".r__........................-..,.....,_,......_< '-'." ",~...,...,.....';.. ." ""- .'. -' .... 000228 O~2193~ WYOMING-Single F.amily-FBDI1Ïe MaelFreddie Mac UNIFORM INSTRUMENT :Form 3051 1/01 (page 3 of Jl pages) . . '.............~..'...'.,. ..,.'.,,-. . . " ,'-....,;.,....."._,._-.~_.."..,-~.. --.'.-. ,........~_.......... .......~=--..""-"'--., ·."...._...·,r··_n.·...,'.·--'_· . , - .,-......-'.. '-~.' .. 000229 O~Z1932 escrowed by Borrower, lUld .such dues, fees .and liSsessments .shall be lUl Escrow Item. Borrower.shall promptly furnish to Lender lÙl .notices of ænounts to be paid under this .section. Borrower.shall pay Lender the Funds for Escrow Items unless Lender waives Borrower'B obligation to pay the Funds for lUlY or lÙl Escrow Items. .Lender may waive Borrower's obliEation to pay to Lender Funds for lUlY or.all Escrow Items at lUlY time. .A.ny Buch waiver may only be.in writing. In the event ofBuch waiver, Borrower .shall pay directly, when lUld where payable, the ænounts rlue for lUlY Escrow Items for which payment of Funds .has been waived by. .Lender lUld, 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 lUld to provide receipts .shall·for lÙl purposes be rleemed to be a .covenant lUld .agreement .contained .in this .security Instrument, liS the phrase "covenant.and agreement" is used .in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, lUld Borrower fails to pay the ænount rlue for lUlEscrow Item, .Lender may exercise its rights under .section 9 .and pay Buch ænount .and Borrower .shall then be obligated under .section 9 to repay to.Lender lUlY .such amount. .Lender may revoke the waiver as to lUlY or aU Escrow Itenis ilt lUlY time by a notice given in .accordance w.ith Section 15 lUld, upon BUch revocation, Borrower .shaI1 pay to Lender lÙl FUnds, lUld.in.such ænounts, that are then required under this .section 3 . Lender may, at lUlY time, collect lUld.hold Funds.in lUlamount (a) Bufficient to pemút Lender to apply the Funds .at the time .specified under RESP A, lUld (b) .not to exceed the :maximm:n amount a lender can require under RESP A. .Lender.shaI1 estimate the amount of Funds rlue on the basis of current rlata lUld reasonable estimates of expenditures of future Escrow Items or otherwise .in .accordance with Applicable Law. The Funds .shall be .held .in lUl institution wl10se .depoBits are insured by a federlÙ agency, instrumentality, OI entity (.including Lender, if .Lender is lUlinstitution whose deposits liTe BO insured) OI .in any Federal Home Loan Bank. .Lender .shall apply the Funds to pay the Escrow Items.no later than the time .specified under RESPA. Lender.shall not .charge Borrower for .holding .and apply.ingthe Funds, .annually analyzing the :escrow .account, or verify.ing the Escrow Items, unless Lender pays Borrow.er .interest on the Funds lUld Applicable Law pemúts.Lender to:make Buch a charge. Unless lUl.agreement is made.in writing or Applicable Law requires .interest to be paid on the Funds, .Lender .shaI1.not be required to pay Borrower lUlY interest or :earnings on the Funds. Borrower and .Lender .can.agree.in writing, however,that interest.shaI1 be paid on the Funds. Lender .shall give to Borrower, without charge , lUl .annUal .accounting of the Funds as required by RESP A. If there .is a .surplus of Funds .held.in escrow, as defined under RESPA, Lender .shall.account to Borrower for the :excess funds .in .accordance with RESP A. If there is a .shortage of Funds .held .in escrow, liS rlefined under RESP A, .Lender .shaI1 notify Borrower liS required by RESPA, lUld Borrower .shaI1 pay to.Lender the ænount .necessary to:make up the .shortage.in .accOIdance with RESPA, but .in .no .more than 12 monthly payments. If there .is a rleficiency of Funds .held in escrOW,liS rlefined under RESP A, Lender .shall .notify Borrower liS required by RESP A, .and Borrower .shaI1 pay to .Lender the amount necessary to :make up the rleficiency .in .accordance with RESPA, but.in DO more than 12 monthly payments. Upon payment.in full of.all Bums Becured by this .security Instrument, .Lender.shaI1 promptly refund to Borrower lUlY Funds .held by.Lender. 4. Charges; Liens. Borrower .shall.pay .all taxes, liSsessments, .charges, fines, lUld impositions attributable to the Property wmch .can .attain priority over !his .security .Instrument, leasehold payments OI ground rents on the PIOperty, if lUlY, .and Community Association Dues, Fees,.and Assessments,.if lUlY. To the extent that theBe items are Escrow Items, Borrower .shaI1 pay them.in the manner provided .in .section 3. Borrower .shall promptly discharge lUly.lien wmch.has priority over !his .security Instrument unless Borrower: (a) .agrreB .in writing to the payment of the obligatioD Becured by the lien.in a:manner .acceptable to .Lender, but only .BO long liS Borrower is performing .Buch .agreement; (b) .contests the lien .in good faith by, or rlefends against enfor.cement of the lien.in,legal proceedings wmch .in .Lender'.s opinion operate to prevent the enforcement of the lien while thoBe proceedings liTe pending, but only nntil BUch proceedings liTe .concluded; or (c) 1)ecures from the .holder of the lien an agreement .satisfactory to Lender .subordinating the lien to this Security Instrument. If Lender rletermines that lUlY part of the PIOperty is .Bubject to a lien wmch can ..attain priority over this Security Instrument, .Lender may give Borrower a Dotice identify.ing the lien. W.ithin 10 rlaYB of the !late on wmch that .Dotice is Eiven, Borrower .shaI1 .satisfy the lien or take one or more of the .actions .Bet forth above.in thi$ .section 4. Lender may require Borrower to pay a one-time .charEe for..a real estate tax verification .and/or reporting .service used by .Lender.in .connection with this Loan. 3. Property lnsurance. Borrower .shaI1 .keep the improvtmlents DOW existing or .hereafter erected on the Property insured against lOBs by fire, hazards .included within the term "extended .coverage, " .and any other.hazards .including, but .not limited to, earthquakes .and .floods, for w.hich Lender requires insurance. This insurance.shaI1 be maintained.in the amounts (.including rleductible levels) .and for the periods that Lender requires. 'What .Lender requires pursuant to the preceding Bentences .can change .during the tenn of the Loan. The insurlUlce .carrier providing the insurance.shall be .choBen by Borrow.er .subject to .Lender'B right to disapprove Bouower'.s .choice, wmch right .shall.not be :exercised unreasonably. .Lender may requireBorrower WYOMING-Single F.amily-FJUUI.ie MaelFreddie Mac UNIFORM lNSTRDMENT ]?oIDl3051 1/01 (page4 of 11 pages) ~~im, .~~~~mt; iilli~:~~ti:m~~ .-.-..._-,.--.~~ ._--.~---~~"..- -.. ~.'._..," 000230 'S ~ q ·':>1.9 w > V.J> !J!........... , ~"'" to pay , .in cmmection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking .services; or (b) a one..,time charge for flood zone deteIlIlillation and certification .services and subsequent charges each time remappings or .similar manges occur w.hich reasonably might affect .such determination or certification. Borrower .shall.also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency .in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, .Lender may obtain insurance coverage, .at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or .amount of coverage. Therefore, .such coverage.shall cover Lender, but might or might not protect .Borrower, Borrower's equity in the Property, or the contents of the Property , against.any risk, hazard or liability and might provide greater or lesser cover.age than was previously .in .effect. Borrower .acknowledges that the cost of the insurance coverage so obtained might .significantly exceed the cost of insurance that Borrower could .have obtained. Any .amounts disbursed by.Lender under this Section 5 .shall become .additional debt of Borrower .secured by this Security .Instrument. These .amounts .shall bear interest .at the Note r.ate from the date of disbursement and.shall be payable, with.such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of .such policies.shall be subject to .Lender's right to disapprove such policies, .shall.include a .standard mortgage clause, and .shall name Lender as mortgagee and/or as an .additional loss payee. lender .shall have the right to .hold the policies and renewal certificates. If .Lender requires, Borrower .shall promptly give to Lender all :receipts of paid preminms and renewal notices. lfBorrower obtains any fonn of insurance coverage, not otherwise required by ¡Lender, for damage to, or destruction of, the Property, .such policy .shall include a standard mortgage clause and ..shall name Lender as mortgagee .and/or as an .additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and .Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, w.hether or not the underlying insurance was required by Lender, .shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible.and .Lender's .security is not lessened. During .such repair.and restoration period, .Lender..shall .have the right to .hold .such insurance proceeds until Lender.has had an opportunity to inspect such Property to ensure the work .has been completed to .Lender'.s .satisfaction, provided that.such inspection.shall be undertaken promptly. .Lender may disburse proceeds for the repairs and restoration in a .single payment or in a .series of progress payments as the work is completed. Unless an .agreement is .made.in writing or Applicable Law requires .interest to be paid on.such insurance proceeds, Lender ..shall not be required to pay Borrower .any intere.st or earnings on.such proceeds. Fees for public .adjusters, or other third parties, retained by Borrower ..shall not be paid out of the insurance proceeds and.shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or ..Lender'.s security would be lessened, the insurance proceeds..shall be .applied to the.sums .secured by this Security .Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds ..shall be .applied .in the order provided for .in Section 2. If Borrower abandons the Property, .Lender may file, .negotiate.and settle any available insurance claim.and related matters. ]f Borrower does not respond within 30 days to .a notice from Lender that the insurance carrier.has offered to .settle a claim, then Lender may negotiate and .settle the claim. The 3D-day period will begin when the notice is given. In either ev.ent, or if.Lender .acquires the Property under Section 22 or otherwise, Borrower .hereby assigns to .Lender (a) Borrower'.s rights 10 any insurance proceeds in .an .amount not to exceed the .amounts unpaid under the Note or this Security .Instrument, and (b) any other of Borrower's rights (other than the right to any refund of lInearned premiums paid by Borrower) under.all insurance policies covering the Property, insofar .as .such rights .are .applicable to the coverage of the Property. ..Lender may use the insurance proceeds either to repair or restore the Property or to pay .amounts unpaid under the Note or this Security .Instrument, w.hether or not then due. 6. Occupancy. Borrower .shall occupy, establish, and llSe the Property as Borrower's principal residence within 60.days .after the execution of this Security .Instrument and shall continue to occupy the Property as Borrower's principal re.sidence for .at least one year .after the date of occupancy, unless .Lender otherwise .agrees in writing, which consent .shall not be unreasonably withheld, or unless extenuating circumstances exist which.are beyond Borrower's control. ï. .PrfServation, .Maintenance and Protection of the Property; lnspections. Borrower ..shall not destroy, damage or impair the Property, .allow !he Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing .in the Property, Borrower ..shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower .shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds .are paid in connection with damage to, or the taking of, the Property, Borrower..shall be responsible for repairing or restoring the Property only if Lender has released proceeds for .such purposes. Lender may disburse proceeds for the repairB.and restor.ation in .a .single payment or in.a series of progress payments as the work is completed. If the insurance or condemnation proceeds.are not .sufficient to repair or Testore the Property, Borrower is not relieved of Borrower's obligation for the .completion of such repair or restor.ation. "WYOMING-.5ingle F.amily-.FBDDie MaelF.reddie Mac UNIFORMlNSTRUMENT .Form 3051 1/01 (page 5 of 11 pages) -_...-.-...,.- ,--..- "-.,.......,, -,.. ..~._-"'~... -._........_..~,_.". re, )qr>10·''',:;t OOO?301 "-.!......~ J~"'" It:nder or jts .agent.may:make reasonable entries upon .and .inspections Ì5t bíe":ÞÏërptñY. 1f jt .has reasonable £IDJSe, Lender :may .inspect the mteriorofthe .improvements on the J>roperty. Lender.shall give .Borrower notice .at the time of or prior to .such .an mterior mspection 5pecifymg .such reasonable £IDJSe. 8. .Borrower's Loan Åpplication. .Borrower .shall be m Default if,.during theLmm.applic.ation proce.ss, .Borrower or.any per.sons or entities .acti:ng .at the ilirection of .Borrower or with .Borrower's.knowledge or consent gave :materially false, misleading, or inaccurate .information or statements to Lender (or :failed to provide .Lender with material.information) m connection wjth the .Loan. Material representations include, but .are not limited to, representations concerning .Borrower'.s occupancy of the J>roperty as .Borrower'.s principlli residence. 9. .Protection of Lender'.s lnterest in the Property .and.Rights Under this Security lnstrument. 1f (a) .Borrower .fails to perform the covenants .and .agreements contained in this Security lnstrument, (b) there is a legaIproceeding th.at.might signific.antly .affect Lender'.s intere.st in the Property .and/or rights under this .security lnstrument (such as a proceeding.in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security lnstrument or to enforce Jaws or regulations), or (c) .Borrower .has 1Ù>andoned the J>roperty, then .Lender .may do .and pay for whatever js reasonable or .appropriate to protect .Lender'.s interest in the Property .and rjghts under this .security lnstrument, mc1uding protecting .and/or assessing the vlliue of the Property, .and .securing .and/or repairing the Property ..Lender's .actions L:a11 mc1ude, but.are not limited to: (a) paying.any sums .secured byalienwhich.haspriorityoverthisSecuritylnstrument; (b) .appe.aring in court; .and (c) paying reasonable anomey.s' fees to protect its .intere.stin the Property .and/orrights under this Security lnstrument, including Üs .secured po.sition m a bankruptcy proceeding. .securing the J>roperty includes, but is not limited to, entering the Property to:make repair.s, change locks, replace or bo.ard up door.s.and windows, drain water from pipe.s, eliminate building or other code vjolations or dangerous conditions, .and .have utilities turned on or off. Although Lender.may take .action under this Section 9, .Lender does not .have to do .so .and js not under .any duty or obligation to do .so. 1t is .agreed that Lender incurs no liability for not taking .any or .all .actions .authorized under this .section 9. Any .amounts disbursed by .Lender under this Section 9 .shall become.ad.ditional Debt of .Borrower .secured by this SecurÜy Jnstrument. These .amounts .shall bear interest at the Note rate from the date of disbursement and.shall be payable, with such interest, upon notice from .Lender to .Borrower requesti:ng payment. If this .security lnstrument is on .a leasehold, .Borrower .shall .comply wjth.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 .agree.s to the merger m writing. .10. Mortgage lnsur.ance. If .Lender required Mortgage lnsur.ance as a condition of making the .Lo.an, .Borrower .shall pay the premiums .required to maintain the Mortgage Insurance in effect. If, for.any reason, the Mortgage lnsur.ance cover.age .required by Lender cease.s to be av.ail.able from the .mortgage msurer that prevjously provided .such msurance.and .Borrower was required to :Ipa.lœ .separately Designated payments tow.ard the premiums for Mortgage lnsur.ance, .Borrower .shall pay the premiums required to obtain coverage .substantially equivalent to the Mortgage lnsur.ance previously in effect, at a co.st .substantiaI.ly equivalent to the cost to .Borrower of the Mortgage lnsur.ance prevjously .in effect, from .an .alternate .mortgage .insurer .selected by Lender. If .substantially equivllient Mortgage lnsur.ance .cover.age is not av.ailable, .Borrower .shall.continue to pay to .Lender the .amount of the .separ.ately Designated payments that were due when the msurancecoverage ceased to be in effect. .Lender w.il1 .accept, use.and retain these payments as .a non-refundable lo.ss reserve.in lieu of Mortgage lnsur.ance. Such loss .reserve .shall be non-refundable, notwithstanding the fact th.at the.Loan is ultimately paid in fuU,.and .Lender .shall :not be required to pay Borrower .any interest or earnings on .such lo.ss Ieserve. Lender L:a11 no longer require loss reserve payments jf Mortgage lnsur.ance coverage (.in the .amount .and for the period that Lender requirès) provided by .an msurer .selected by .Lender .again becomes av.ail.able, is obtained, .and .Lender requires .separately de.signated payments tow.ard the premiums for Mortgage lnsurance. 1f .Lender .required Mortgage lnsur.ance .as a condition of making the.Loan.and .Borrower w.as required 1O:make .separately de.signated payments tow.ard the premiums for Mortgage lnsur.ance, .Borrower .shall pay the premiums .required to .maintain Mortgage Insur.ance .in effect, or to provide a nOD-refundable loss reserve, until.Lender'B requirement for Mortgage lnsur.ance ends in .accordance wjth .any written .agreement between .Borrower .and Lender providing for .such tennination or until termination .is required by Applicable .Law. Nothing ID this .section 10 .affects BOIfower'.s obligation to pay IDterest at the .rate provjded in the Note. Mortgage lnsur.ance reimburBes Lender (or .any entity thatpurcllases the Note) for .certain los.ses jt.may li1cur jf.Borrower does not repay the.Loan as .agreed. Borrower.is not a party to the Mortgage lnsurance. Mortgage msurers evlliuate their total risk on all.such msur.ance.in force from time to time, .and may enter .into .agreements with other parties that .share or modify their risk, or reduce losses. These .agreements.are on terms.and .conditions th.at.are .satisfactory to the mortgage msurer .and the other party (or parties) 10 these .agreements. These.agreements.may require the mortgage .insurer to:make payments using.any .source of funds th.at the mortgage msurer may .have .available (w.hich may .include funds obtained from Mortgage lnsur.ance premiums). WYOMING-Single FlUIlÌly-FJUU1Îe MaelFreddie Mac UNIFORM.INSTRUMENT .Form 3051 1/01 (page 6 of 11 pnges) ~}~"~~~¡;;;j ~-~~:I~if"~j~~,,:r) ~15~~:r~j ~~~~i~~"f':;\t:~~ <'. ..-...-... 000232 As ~ 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) lIIIlOunts that derive from (or :might be .characterized.as) .a portion of Borrower's p~yments for Mortgage lnsur.ance, in exchange for 5har.ing or modify.ing the mortgage .insurer's Iisk, or reducing Josses. If such .agreement provides that M mIiliate of .Lender takes ~ share of the .insurer's :risk.in exchange for ~ 5hare of the premiums paid to the .insurer, the .arrangement,is often termed "L:aptive reinsurance." Further: (a) Any .such Bgreements will not .affect the amounts that Bon-ower .has 11greed to pay for Mortgage lnsur.ance, or .any other terms of the Loan. Such .agreements will not increase the amount Bon-ower will owe for Mortgage lnsur.ance, JUld they will not entitle Bon-ower to .any refund. (b) Any .such Bgreements will not 11ffect the rights Bon-ower .has - jf JUly - with respect to the Mortgagelnsur.ance under the Homeowners Protection Act of 1998 or JUly other Jaw. These rights may .include the right to receive certain .disclosures, to request .and obtain cancellation of the Mortgage lnsurance, to have the Mortgage lnsur.ance terminated 11utomatically, JUld/or to receive 11 refund of 11ny Mortgagelnsur.ance premiums that were unearned 11t the time of .such .cancellation or termination. 11. Assignment of .Miscellaneous .Proceeds; Forfeiture. All Miscellaneous Proceeds.are hereby .assigned tOMd..shall be paid to Lender. ! lf the Property is damaged, such Miscellaneous Proceeds.shall be .applied to restor.atÏon or repair of the Property, if the restoration or repair ,is economically feasible.and .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 L:omp1eted to Lender's satisfaction, provided that such .inspection.shall be undertaken promptly. .Lender :may pay for the repairs Md restoration .in .a single disbursement or.in.a series of progress payments .as the work,is L:omp1eted. Unless M Agreement is :made in writing or Appfu:ab1e Law requires .interest to be paid on such Miscellaneous Proceeds, Lender .shall not be required to pay Borrower MY .interest or ~gs on such Miscellaneous Proceeds. lfthe restoration or repair is not economically feasible or Lender'.s security would be lessened, the Miscellaneous Proceeds.shall be .applied to the sums secured by this Security lnstrument, whether or not then Due, with the excess, if MY, paid to Borrower. Such Miscellaneous Proceeds .shall be .applied in the order provided for in Section 2. 1n the event of .a total taking, destruction, or loss in v.a1ue of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security lnstrument, whether or not then due, with the excess, if MY, paid to Borrower. 1n the event of.a partial taking, destruction, or loss in v.alue of the Property .in which the :fair .marlœt v.alue of the Property immediately before the partial taking, destruction, or 10ss.in v.a1ue is equal to or greater thari the 1lIIlount of the.sums secured by this Security lnstrument immediately before the partial taking, destruction, or loss .in v.alue, unless Borrower .and Lender otherw,ise agree .in writing, the .sums secured by this Security 1nstrument.shal1 be reduced by the 1lIIlount of the Miscellaneous .Proceeds :multiplied by the following fraction: (~) the total1lIIlount of the sums secured immediately before the partial taking, destruction, or Jos's in value divided by (b) the fair .marlœt value of the Property .immediately before the partial taking, destruction, 'or loss in v.a1ue. Any balance.shall be paid to Borrower. 1n the ievent of a partial taking, destruction, or loss in v.alue of the Property in which the fair market v.a1ue of the Property I .immedi~telYi before the partial taking, destruction, or loss in v.a1ue is less than the 1lIIlount of the sums secured immediately before the partial taking, destruction, or loss in value,ll111ess Borrower Md Lender otherw,ise .agree.in writing, the Miscellaneous Proceeds .shall be .applied to the sums secured by this Security lnstrument whether or not the sums .are then due. lf the Property is .abMdoned by Borrower, or if, .after notice by Lender to Borrower that the Opposing P.arty (as defined in the next sentence) offers to :make an ~ward to settle ~ claim for damages, Borrower fails to respond to Lender within 30 days .after the date the notice is given, Lender is .authorized to L:ollect Md .apply the Miscellaneous Proceeds either to restoration or :repair of the Property or to the sums secured by this Security lnstrument, whether or not then due. "Opposing P.arty" means the third party that owes Borrower Miscellaneous Proceeds or the party .against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower .shall be .in default if MY action or proceeding, whether civil or L:rimina1, is begun that, .in .Lender's jm1zmellt, muld result in forfeiture of the Property or other :material imp.ainnent of .Lender's interest.in the Property or rights under this Security lnstrument. Borrower l:an cure such.a default Md, if .acceleration bas occurred, reinstate.as provided in Section 19, by L:lliJsing the action or proceeding to be dismissed with .a ruling that, .in .Lender's judgment, precludes forfeiture of the Property or other material impainnent of Lender'.s interest .in the Property or rights under this Security lnstrument. The proceeds of MY .award or claim for damages that .are attributable to the imp.ainnent of .Lender's interest in the Property are hereby .assigned Md ..shall be paid to Lender. All Miscellaneous .Proceeds that .are not .applied to restoration or repair of the Property..shall be .applied in the order provided for in Section 2. U~~1.~.12 WYOMING-S.iDg1e F.amily-Fæmie MaelFreddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 7 of 11 pages) I I ! I -"'. ~--..._.._... ..~... ...._......~. -.. .". 000233 nQ"-""1.·Uø;,'':'JI' ""'......fI.", ....Jû--.., .12. .Borrower Not Released; Forbear1lI1ce.By Lender Not.a W.aiver. Extension of the time for payment or modification of lIIDortization of the .sums .secured by:this Security .Instrument gnlIlted by .Lender to Borrower or .any Successor in Interest of Borrower .shall not operate to Telease the liability of Borrower or .any Successors in Interest of Borrower. .Lender.shall not be required to commence proceedings against .any Successor .in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the .sums .secured by this Security Instrument by reason of .any demand.made by the original Borrower or .any Successors in Interest of Borrower. Any forbearance by.Lender m exercismg.any Tight or Temedy including, without limitation, .Lender's .acceptance of payments from third persons, entities or Successors m Interest of Borrower or in lIIDOunts less than the amount then due, .shall not be a waiver of or preclude the exercise of .any Tight or remedy,. .13. Joint 1lI1d 5ever.a1 Liability; Co-.signers; Successors .and Assigns .Bound. Borrower covenants .and.agrees that Borrower's obligations .and liability .shall be jomt.and .several. However,.any Borrower w.ho co-.signs this Security Instrument but .does not execute the Note (a "co-.signer"): (a) is co-.signing this Security Instrument only to mortgage, gr.ant.and convey the co-.signer'.s interest .in the Property under the 1erms of:this Security Instrument; (b) is not personally obligated 10 pay the.sums .secured by :this Security Instrument; .and (c) .agrees that Lender .and .any other Borrower can agree to extend,modify, forbear or .make .any .accommodations with Tegard 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 w.ho assumes Borrower'.s obligations under this Security Instrument in writing, .and is .approved by Lender,.shall obtain.all ofBorrower'STights.and benefits under this Security Instrument. Borrower .shall not be Teleasedfrom Borrower'.s obligations .and liability under this Security Instrument unless .Lender agrees to.such release.in writing. The covenants.and agreements of this Security Instrument.shall bind (except as provided in Section 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 Instrument, .incluclin,g, but not limited to, .attorneys' fees, property inspection .and valuation fees. In Tegard to .any other fees,the.absence of express authority.in this Security Instrument 10 charge a .specific fee to Borrower .shall not be construed as a pro.hibition on the charging of .such fee. .Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. 1f the Loan is .subject to a law w.hich .sets maximum loan charges, .and that law is finally interpreted .so that the interest or other loan charges collected or to be collected.in connection with theLo.an exceed the permitted limits, then: (a).any .such loan .charge .shall be Teduced by the lIIDOunt necessary to reduce the charge to the permitted limit; .and (b) any .sums already .collected from Borrower w.hich exceeded permitted limits ,will be refunded to Borrower. .Lender may choose to make this refund by Teducmg the principal owed under the Note or by making a.directpaymenttoBorrower. lfaTefundreducesprincipal,the Teduction 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.consti1llte a waiver of .any right of .action .Borrower might .have.arising out of .such overcharge. .15. Notices. Þ,Jl notices given by Borrower or .Lender .in connection with this Security Instrument must be.in writing. Any notice 10 Borrower in connection with this Security Instrument .shall be deemed to .have been given to Borrower w.hen mailed by fir.st class mail or w.hen actually delivered 10 Borrower'.s notice address if .sent by other .means. Notice to.any one Borrower .shall consti1llte notice to .all.Borrower.s unless Applicable Law expressly Tequires otherwise. The notice address .shall be the Property Address unless Borrower.has designated a .substi1llte notice .address by notice 10 .Lender. Borrower.shall promptly notify .Lender of Borrower's change of address. If .Lender .specifies a procedure for TepOrting Borrower's change of address ,then Borrower .shall only TepOrt a change of address through that .specified procedure. There may be only one designated notice address under this Security Instrument at .anyone time. Any notice to Lender .shall be given by .delivering it or by.mailing it by fu.st 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 Tequired by this Security lnstrument is also required under Applicable Law, the Applicable Law requirement will.satisfy the corresponding requirement under this Security Instrument. .16. Governing Law; Sever.ability;.Rules of Construction. This Security Instrument .shall be governed by feder.a1law .and the law of the jurisdiction in which the PIOperty is located. All Iights .and obligations containe.d in this Security Instrument are .subject 10. .any 'requirements .and limitations of Applicable Law. Applicable law might explicitly or implicitly .allow the parties to agree by contr.act or it might be silent, but .such .silence .shall not be construed as a pro.hibition.against agreement by .contract. In the. event that .any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, .such conflict ..shall .11ot affect other provisions of this Security Instrument or the Note w.hich can be given effect without the conflicting provision. !! As .used I in this Security Instrument: (a) words of the masculine gender .shall.mean.and .include corre.sponding neuter words or words of ,the feminine gender; (b) words in the.singular .shall.mean.and include the plural.and vice versa;.and (c) the word ".may" gives .sole discretion without.any obligation 10 take .any .action. .17. .Borrower'..s Copy. .Borrower.shall be given one .copy of the Note.and of this Security Instrument. WYOMING-Single .F.amily-.F.annie MaelFreddie Mac UNlFORMlNSTRUMENT .Form 3051 .l/0l (page 8 of 11 pages) ~~~mm;~j~;¡;~~~~ :~:~~:fr:;¡¡;¡.;¡;Jill '.',,_,I,,'.,t,· ,......'-.."'.,.,'-.....¡..,.-"',-".;.,.-;..'.o>'".~...'_'.,'...~..-.<.I""'_':.......::.-'-'.,,~_,.,...'. ..,....,...........:...,... .'-'-..':"!;.af.,U:"~....",,. _·_·L"~."'_··;'·'__"· ;:-., nq...:,.t10"';"·\ . -......A.øt..L.....1\.J~ .18. Tr.ansfer of the Property or .a JJeneficiallnterest in JJoITower. As ºeP.D~~~iDn 18, "lnterest.in the PrDperty" 1Deans .any legal Dr beneficial mterest .in the Property, .including, but .nDt limited to., thDse beneficial.interests transferred .in.a bDnd fDr deed, cDntract fDr deed, installment .sales .cDntract or e.scrDW .agreement, the .intent Df which is the tr.ansfer Df 1itle by BDrrDwer .at .a future .d.ate to. .a purch.aser. 1f .all Dr .any p.art Dfthe PrDperty Dr .any 1ntere.st.in the Property.is .sDld Dr transferred (Dr if BDrrDwer is nDt.a.n.atur.al per.sDn .and .a beneficial .interest .in BDrrDwer is .sold or transferred) withDut .Lender'.s prior written cDnsent, Lender may require immedi.ate payment .in full o.f .all .smns .secured by this Security .Instrument. Ho.wever, this o.ptio.n .shall.no.t be exercised by Lender if .such exercise is prohibited by Applic.able law. If Lender exercises this Dptio.n, Lender .shall Eive Bo.rrDwer .nDtice Df .acceler.ation. The .no.tice .shall provide .a periDd of .nDt less than 30 days frDm the date the nDtice is Eiven .in acco.rd.ance with SectiDn 13 within which BDrrDwer must p.ay .all.smns liecured by this Security .Instrument. If BDrrDwer fails to. pay these.smns prior to. the ~xpir.atiDn Df this periDd, .Lender may .inVDke .any remedies pennitted by this Security .Instrument withDut further nDtice Dr demand Dn BDrro.wer. .19. BOITower's Bight to Reinstate Mer Acceler.ation. 1f Bo.rrDwer meets certain .cDnditiDns, Bo.rrDwer .shall.have the Tight to. have enfo.rcement o.fthis .security .Instrument disco.ntinued.at.any time priDr to' the earliest Df: (a) five days befo.re s.ale Df the Property purswmt 1D.any pDwer Df sale cDntained.in this Security .Instrument; (b) such Dther perio.d.as Applic.able law might lipecify for the terminatiDn DfBDrrDwer's right 10. reinstate; Dr (c) t:ntry Df .a judgment enfDrcingthis Security .Instrument. Tha.se .canditiDns Me th.at Barrawer: (.a) pays Lender .all .smns which then wDuld be due under this Security .Instrument .and the Nate .as if no. .acceler.atiDn .had accurred; (b) .cures .any Default Df.any Dther .cDvenants or .agreements; (c) pay.s.all expenses .incurred.in enfDrc.ing this .security .Instrument, .including, but nDt limited to., reasDnable attarneys' fees, prDperty inspectiDn.and valuation fees, .and other fees .incurred for the pllTpose Df protecting Lender's .interest .in the PrDperty .and rights under this Security .Instrument; .and (d) takes such .actiDn .as Lender may reasDnably require to' .assure th.at LendeÙ¡ mterest.in the PrDperty .and rights under this Security .Instrument, .and BDrrDwer's DbligatiDn to' pay the.smns .secured by this Security Instrument, .shal1.cDntinue unchanEed. .Lender.may require th.at BDrrDwer pay .such reinstatement.smns.and expenses.in Dne or more Df the fDllDwing fanus, .as lielected by Lender: (a) cash; (b)mDney Drder; (c) certified cl1eck, bankcl1eck, treasurer'.s cl1eck or cashier'.s cl1eck, provided .any liuch check is dr.awn upDn .an institutiDn whDse depDsits.are insured by.a federal.agency, instrumentality or :entity; or (d) .ElectrDnic Funds Tr.ansfer. UpDn reinst;;¡tp.mp.nt by BDrrDwer, this Security .Instrument .and DbligatiDns secured hereby .shall remain fully effective .as if no. .acceler.atiDn had Dccurred. HDwever, this right to' reinstate .shall nDt .apply.in the c.ase Df .acceler.ation under SectiDn 18. 20. Sale of Note; Change of Loan Servker; Notice of Grievance. The NDte Dr .a partial.interest.in the NDte (together with this Security lnstrument) .can be liDld one or mDre times withDut priDr notice to' BDrrDwer. A .sale might result .in.a chanEe.in the t:ntity (knDwn .as the '1.,o.an .servicer") th.at collects Perio.dic P.ayments due under the NDte.and this Security .Instrument.and perfDrms Dther mDrtgage lD.an liervic.ing DbligatiDns under the NDte, this Security .Instrument,.and Applicable law. There.alsD might be Dne or mOIe cl1ang~s Df the Lo.an .5ervicer nnrel.ated to. .a 1iale of the N Dte. ]f there is .a change of the Lo.an Servicer, .BDrrDwer will be given written nDtice Df the change which will1itate the name .and .address Df the.new Lo.an Servicer ,the ..addre.ss to' which payments .shDuld be made .and .any Dther infDrmatiDnRESPA requires .in .connection with.a natice of transfer Df liervic.ing. If the NDte is .sDld .and thereafter the Loan is .serviced by .aLo.an Servicer Dther than the purch.aser Dfthe NDte, the mDrtgage ID.an .servicing DbligatiDns to' BarrDwer will remain with the Loan Servicer or be tr.ansferred to. .a .successor Lo.an .servicer.and Me nDt .assumed by the NDte purch.aser unless Dtherwise provided by the NDte purch.aser. Neither BarrDwer nDr Lender .may cDmmence, jDin, or be jDined to .any judicial.actiDn (.as either.an individua1litigant Dr the member Df .a class) th.at .arises :from the Dtherparty'li .actiDns purswmt to. this Security .Instrument or th.at .alleges th.at the Dther p.arty has breached .any provisiDn Df, Dr .any duty Dwed by reasDn Df, this Security .Instrument, until such BDrrDwer or Lender h.as nDtified the Dther p.arty (with .such nDtice given.in compliance with the requirements Df Sectian 15) Df such .alleged breach.and .affOIded the Dther p.arty hereto. .a reasDnable periDd .after the giv.ing Df liuch nDtice to. take corr~ctive .action. ]f Applic.able law provides .a time peri ad which must elapse befare .certain .action .can be taken, th.at time periad will be deemed to. be reasonable for purpDses Df this paragr.aph. The nDtice Df .acceleratiDn.and DppDrtunity to. cure given to. BDrrDwer purswmt to. SectiDn 22 .and the .natice Df .acceler.atiDn Eiven to. BDrrDwer purswmt to. SectiDn 18 .shall be deemed to. satisfy the nDtice .and DppDrtunity to. take .cDrrective actiDn provisiDns of this Section 20. 21. .Hazardous Substances. As used.in this Section 21: (.a) "Hazardaus Substances" Me those .substances .defined .as tDxic or .hazardDus .substances, pDllutants, ar w.astes by Environmp.nt;;¡llaw.and the fallDwing liub.stances: gasDline, .kerosene, Dther fI;;¡mm;;¡ble or tDxic petroleum products, tDxic pesticides .and .herbicides, vDlatile .sDlvents, .materials CDntaining .asbestas or fDrmaldehyde, .and radiDactive materials; (b) "Environmental Law" me.ans federal laws .and laws Df the jurisdictiDn where the Property is lDc.ated th.at relate tD.health, .safety or environmental protectiDn; (c) "EnvirDnmental Cleanup" includes.any respanse .actiDn, remedial .actiDn, or remav.al .action, .as defined .in EnvirDnmentallaw; .and (d).an "EnvirDnmental CDnditiDn" 1Deans .a .cDnditiDn th.at.can c.ause, .contribute to., or Dtherwise trigger .an Environmenta1 Cle.anup. I ¡ , I I ! WYOMING+shwe FlIIIlily-Fannie MaelFreddie Mac UNlFORMlNSTRUMENT I j Form 3051 1/01 (page 9 of 11 pages) '.' "~_'''~'''''''U>~>__-'''. """"....=<.>:. '-,,~. __".~-~...._-.."".<4<..'__ '''. ;,'""'.,.........-. ,;.....,~....,....O'&:'/'~~..:o:..,-, -..·=~"",'"'-''''u........,........:.."......~·.,"-'-~·,...·t;:,.-,,<..t·,: ..'_" "....' ,"_" ,.,--."."..,,'.',"''''''.'.,-,, 000235 1.~...r'),lG" J '..JI '..... '-.ìÃ.,¡ .. -..~u,... .Borrow.er .shall :not.cause or pennit the presence, use, disposal, stornge, or release of lII1Y Hazardous Substances, or threaten to r-elease lII1Y Razardous Substances, on or m the Property. .Borrower shall :not do, :nor .allow lII1yone -else to do, lII1ything .affecting the Property (2) that is m vioÙltion of MY Environment:!l Law, (b) wlllch creates MEnvironment:!l Condition, or (c) wlllch, due to the pr-esence, use, or release of 2 Hazardous Substance, creates 2 condition that .adversely .affects the v.alue of the .Property. The preceding two sentences shall :not 2pply to the presence, use, or stomge on the Property of .small quantities of Hazardous Substances that Me gener.al1y recognized to be .appropriate to :nonna! residential uses Md to mainterumce of the Property (.including, but:not lllnited to, .hazardous .substances m consumer products). Borrower shall promptly give Lender WIÏtten:notice of (2) lII1Y mvestigation, ctrim, dem:!ncl,lawsuit or other .action by MY .governmental or regUÙltory 2gency or priv2te party mvolvmg the Property .and MY Hazardous Substance or Environmental Law of wlllch.Borrower has .actual.knowledge, (b) lII1Y Environment:!l Condition, .including but not lllnited to, lII1Y spillin.g, lealcing, dischMge, release or threat of release of MY Hazardous Substance, Md (c) lII1Y l;ondition CIDlsed by the presence, use or release of .a Razardous Substance wlllch .adversely .affects the value of the .Property. If .Borrower lem:ns, or is :notified bYllI1Y .governmental or regulatory .authority, or lII1Y priv.ate party, that lII1Y removlÙ or other remediation of MY Hazardous Substance .affecting the Property is :necessary, .Borrower shall promptly take .all necessary remedial .actions m .accordance with Environmental Law. Nothin.g .herem.shall create MY obli.gation on Lender for M Environmental CleMup. NON-UNlFORM COVENANTS. .Borrower .and Lender further .covenant Md .agree.as follows: 22. Acceleration; Remedies. Lender.shall give notice to .Borrower prior to .acceleration follow.ing .Borrower's breach of .any £Ovenant or .agreement.in this Security lnstrnment (but not prior to .acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the lIefault; (b) the .action required to .cure the lIefault; (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 .acceler.ation of the sums secured by 1his Security Instrument.and.sale of the Property. The notice5hall further inform .Borrower of the right to r.einstate.after .acceler.ation .and the right to bring .a court .action to .assert the non-existence of.a default or .any other defense or.Borrower to .acceler.ation.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 lnstrnment without further demand mId.may invoke the power of sale .and .any other remedies pennitted by Applicable Law. Lender 1ìhalI be entitled to collect.all fipeDSes .incurred .in pursuing the remedies provided in this Section 22, .including, but not limited to, reasonable ..attorneys' fees mId costs of title evidence. If Lender .inv'okes the power of sale, Lender 1ìhalI.givenotice of .intent to forecloseto .Borrower mId to the person in possession of the Property, if different, in .accordance "with Applicable Law. Lender shall give notice of the sale to .Borrower in the manner provided.in Section 15. Lender 1ìhalI publish the notice of .sale,.and the Property shall be sold.in the manner prescribed by Applicable Law. Lender or its lIesignee may purchase the Property .at .any sale. The proceeds of the sale 5hall be .applied .in the following order: (a) to.all expenses of the sale, .including, but not limited to, reasonable .attorneys' fees; (b) to .all sums secured by this Security Instrument;.and (c).any fiCesS to the person or persons legally entitled to it. 23. .Release. Upon payment of .all.sums secured by:this Security lnstrument, Lender .shall release:this .security lnstrument. .Borrower .shall pay MY recordation costs. Lender may chMge .Borrower .a fee for reJe.asing this Security lnstrument, but only if the fee is paid to 2 third party for .services rendered Md the chMgmg of the fee is permined under Applicable Law. 24. W.aivers. .Borrower releases Md wll.Íves all rights under.and by virtue of the .bomeste<1d exemption laws of Wyomin.g. WYOMING-Single F.amily-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 1 0 of 11 pages) ::;i~:~:::~;:;¡:;::: ;l;f;~;~:~~~f;tI:i~ ~1~~m~d~~1~~ IN·;·.2.'.':'¡':·,' r~~I·/~'!I!t'Lp·.I.' .:i'I~t"'·6'!l I~æ . âr~;~~l~,:'~·,:,,· ··;;1,~j~;' ' .¡. I III 000236 Ü3Z193~, I I , II.! .BY SIGNING BELOW, .Borrower .accepts .and .agrees to the tenns .and .covenants contained.in this Security .Instrument.and .m.any Rider executed by Borrower .and recorded with it. I I Witnesses' i . I ì ~tVC¿/ , L TODD W. CLARK (Seal ) -Æorrower Q~lQJi~ ,á'(î'f\ 0bç~ .PATRICIA LYNN CLARK , ..,Borrower (Seal ) (Seal ) ..,Borrower ..,Borrower ISpace Below T1ús Line For .Acknowledgment] ..state of"WYOMlNG .ss County of .LINCOLN Tl1e forego.ing .instrument w.as .ackno~edged before:me by TODD W. CLARK.and .PATRICIA LYNN CLARK, JIUSBAND AND WIFE !his 2.5 '- day of .~, . "ZOO&' Witness:my.hand.and o.fficia1.seal. , ð Afæ~ /~~ Notary Public aLORJA Æ'. EY~RS (P.r.intortype:ruune) (Se1Ù) My Commission Expires: 9-/5-07 LODZ ',9 ~ 1daS saJ!dX3 uOlSSIWWO~ ÃW J5U!WO~M ~ UJooun 10 Ðre1S ~ JO Á¡Unoo Onand AHV10N . SI:I3A8 j VU:101Ð GLORIA K. BYERS - NOTARY PUBUC County of State of Lincoln Wyoming My CommJsslon Expires Sept. 15,2007 WYOMING-.single :F.amily-Fæmie MaeIF.reddie Mac UNIFORM lNSTRUMENT Fonn3051 1/01 (pilge 11 of 11 pages) ·.-'''~''--''-'.-.~_,.'.,.. ·.·....·u_.·. .-"---_-"-·_~_d ':',·,C"",., . ·.·.·......._·¿T.-'...·' _."...~=..""'""".~.."', ":..,,,, ...; -- 000237 U321.~32 FlleNumber: 6010615274 ..EXHIBIT ~'A'" LEGALDESCRIPTJON Lot.2 oIRed Top Subdivision, Lincoln County, Wyoming.as described on the official:platlilerl on August 8,.2002.as.instrumentNo. 883070 of the .records oItheLincoln County Clerk I ~ Btn:amLineLegal.Desc:ription-.Exhibit "A" © Rev. 3/22/2006 ili~~I~~~~~Ji: m:::::::::::;::::~:;;r 'i~ ~"'~I"~ "" \ '~ t ···~____'~_·._._~_r._,.~_,---..........--~__................_~.,~. . ....._-............ .', ,. ~."....... ,.._.....~~--...~.-....~,-'..._,<., .'.................,.--. ~.,_..... .....-... ,-..~..".'" - - 'A(. ¡..~1G ..,""> U-...I"'-' ":lùr... 000238 Loan No: 0067847921 CONSTRUCTION LOAN RIDER TO SECURITY INSTRUMENT (WITH SECURITY AGREEMENT) THIS CONSTRUCTION LOAN RIDER TO .sECURITY INSTRUMENT AND .sECURITY AGREEMENT .is made this 25TH Liay of AUGUST, .2006, 4I1d is .incorponlted .into 4I1d shall be deemed 10 .aIl1end 4I1d .supplement the Mortpge, Deed of Trust, or Security Deed (the "Security Instrument") of me ;ßanle .date Eiven by the undersigned (the "Borrower") 10 secure Borrower'ß Note (the "Note") 10 WELLs FARGO -BANK, N.A. (the "Lender ") of the .same date 4I1d cover.i.ng the property described.in !he ;Security lnstrument (the "PIOperty") 4I1d located at: LOT 2 REDTOP SUBDIVISION, SMOOT, WYOMING 83U6 I I ADDITIONAL COVENANTS ¡ 1n addUion 10 the covenants 4I1d agreements.made .in the Security lnstrument, Borrower 4I1d Lender further covenant 4I1d .agree æ; follows: A.INCORPORATION OF .RESIDENTIAL CONSTRUCTION LOAN AGREEMENT Lender 4I1d Borrower entered.into a Resillenûal Construction Loan Agreement (the "Agreement") this .same Liate. The Agreement is .incorporated here.in by reference. Default under 1he renns of1he Agreement .shall be default under 1he renns of the Security lnstrument whkh rlefault -enritles 1he Lender to accelerate 1he .maturity of the Note and 10 exercise all available remedies. .B. CONSTRUCTION MORTGAGE The .security lnstrument .securi.n.g, the obligarion for 1he cost of construction of certall.linprovements on !he Property, is a "Construction Mortgage" under the Uniform Commerc.ia1 Code æ; adopted 4I1d applied in the .state where 1he Property is situated. It is .understood 4I1d agreed 1hat funds to be advanced upon the Note .are to be used .in !he construction of certall.linprovements on the Property .in .accordance w.ith!he Agreement. .PlIge 1 on .5MSNDC/OOOO/RR080003 .0321932 000239 .Lrnm No: 0067847921 C. FUTURE ADVANCES The ,Security 1nstrument is Eiven wholly or p1lT1ly to .secure future obligations which may be IDcuued under the Note. The face .amount of obligations ev.idenced by the Note .and secured hereunder is $ .210,000.00, .and the mnlmlJ11] .amount, including present .as well as future .advm1Ces evidenced by the Note, which Lender ßhall be obligated to .adv1U1Ce .at.any one rime ßhall not exceed the face .amount of the Note. Provided, however, the said maximum .amount may be .increased by such .additional.amounts .as may be .adv1U1Ced by Lender pursuant to the Security lnstrument .and .all such .additional.amounts .shall be Deemed necessary expenditures for the protection of the security in accordance with and to the extent .allowed by the law of the State in which the Property is situated. Future .adv.ances evidenced by the Note .shall be made .as provided in the Agreement. .Borrower .and Lender have not contracted to require written notation or evidence of each future .adv1U1Ce to be made under the Note. D. WAIVER OF CERTAIN NOTICES DURING CONSTRUCTION Notw.ithstanding the 30 d.ay written notice.and right to cure provisions contained in P.aragr.aph 22 of the .security 1nstrument,the .Borrower, .as weB .as .all sureties, Euarantors.and endorsers of said Note sever.ally w.aive .all notices, Demanils, presentments for payment, notices of non-payment, notices of ..intention to acceler.ate the maturity , notices of .acceleration, notices of Dishonor, protest .and notice of I , protest, .d.iligence in collecting or bringing suit.as to the Note.and.as to each, every .and.all installments 1herJof .and .all obligations thereunder .and .aEamst .any party thereto .and to the .application of .any payment on .said obli.gation, or .as .an offset 1hereto, .and .agree 10 .all extensions, renewals, partial payments, ..substitutions or evidence of .indebtedness .and the taJdng, release or substitution of.all or .any part of the .herein described security or 1he release of any party liable thereon with or without notice before or .after maturity . ¡ Upon default in the punctual payment of the Note or.any part or installment :thereof, princip.a1 or interest, as 1he same .shall become due .and pay.able, ,or in the perfonnance of .any warr.anty, covenant or .aNeement, or other default under the terms of the Security lnstrument of even date Eiven .as security for the payment thereof, or under .any other .instrument .granted to ..secure payment thereof or executed in connection therewith, Lender may Declare the then .lII!P.aÏd pr.incip.a1 b.a1ance .and accrued interest thereon immediately due .and payable' without notice. F.ai1ure 10 acceler.ate .shall not constimte.a w.aiver on the part of Lender of the r.iEht 10 exercise the same .at.any other rime. .P.age.2 on .5MSNDC/OOOOlRR080003 ;m¡~~~filiim~!¡f;ijj :~:¡:;:::;m¡~~;::: '~''''.''''.'-''.'.'''''''~''''.' - ·,··'"-.."'o--",",_........~...........__.__-'-'-.... ··-·....0·......·._.0.'. ". '"';<'''''''''':''''~''-'~''''' ....'.. .-'; ~ '....,.'. ..~ -.. .';......".."... " O::J:<:193~ 000240 .Loan No: 0067847921 E. SECURITY AGREEMENT Without limiting my of the provisions of the Security lnstrument, .Borrower, liS Debtor (and being referred 10 .in this paragraph liS "Debtor," whether one or more), expressly GRANTS unto Lender, as Secured Party (.and being referred to .in this paragraph as "Secured Party," whether one or more), a .security .interest .in ·the follow.ing .described property (including both those now md those .hereafter existing) (collectively, "Collateral") to the full extent that such properties may be subject to the U.nifonn Commercial Code-Secured TrmlSactions (hereinafter called "Unifonn Commercial Code") as 4dopted.and applied .in the State where the Property is .situated: (1) To the extent owned by Debtor, Debtor's successors.and liSSigns, .and acquired with the proceeds of the 10m .secured by the Security lnstrument, .all fixtures, ,goods, furni~hiTIEs, -equipment, building material, TmlC~hinery, .and personal property now or .hereafter located.in, on, or used or .intended to be used.in connection with the .Property, .including without limitation: .doors, partitions; window.and :floor coverings; apparatus, material, or equipment for .supplying, .holding, or distributing heating, cooling, electricity, ,gas, water, .air,.and lighting; security, .acce.ss control, .and fire prevention .and extinguishing apparatus, material, or equipment; .household appliances; bmhroom .and .kitchen fixtures; cabinetry; .and .kitchen fixtures; md landscaping (collectively, "Fixtures.and Personal Property"). (2) All proceeds or.sums payable .in lieu of or liS compensation for the loss of or damage to the Property .and the Fixtures .and .Personal Property, .and all Tights .in .and to .all present .and future fire .and hazard insur.ance policies. (3) All proceeds of my lI.ward or claim for .damages, direct or consequential,.in connection with my condemnation or other taking, .in w.hole or .in part, of the Property, or for convey.ance .in lieu thereof. (4) All of Debtor'.s interest .and rights, <is lessor,.in.and 10 allle4ses now or .hereafter .affecting the Property, .and .all rental .income payable thereunder or otherwise. (5) All bonds, .deposits, letters of credit,..md my other .sums at my time credited by or .due from Secured Party to Debtor or my ,guarID1tor, co-.maker, or .surety of Debtor, .and held by Secured Party. (6) Any replacements, .additions, or betterments to, or proceeds of, the Collater.al described herein llbove, the sale or distribution of which is not IDlthorjzed .hereby. P.age 3 of7 .sMSNDC/OOOO/RR080003 ,..."..õ'.,...........,....-,.:r¡-..,.....".,. .,-..-'-..:.."'~...,¡.....;.¡,;;,;.;,.;........>'.......:.:-'-.___, ." ·:·1·.·.-~·...........·.;·,,:¡:' .... --"""".'-'''',J.-''!r...,~;.:,~, .. ,. .'~:~ '-'''''.''-, ,....;.,:. ~ ," O~Z1.~3Z 000241. 1-œn No: 0067847921 .In this IeEard, Debtor .and .secured .Party further .covenant.and.ap-ee.as follows: 1. In .addition to .any other remedies EI.ant-ed.in the .se.curity 1nstrument to .se.cured P.arty or Trustee, . .secured P.arty may.in event Df default, proceed.under the Unifonn Commer.cial Code.as to.all Dr .any part of the Collater.al, .and.shall have.and may exer.cise with Iespect to the Collater.al,.all the IWlls, Iemedies, .and powers of.a secured party under the Unifonn Commercial Code, .including without limitation:the Tight .and power to sell.at public or priv.ate sale or sales or otherwise dispose of, lease, or utilize the Collater.al, or .any part or parts :thereof, :in.any manner .authorized or permitted .under the Unifonn Commercial Code .after rlefuult by a Llebtor .and to .apply the proceeds thereof toward payment of .any .costs, expenses, Iea50nable .attorneys' fees, .and leEalexpenses thereby .incurred by .secured P.arty .and toward payment of indebtedness rlescribed :in the .se.curity Instrument.in such orLler or m:nmer .as .secured Party may elect. 2. Among the IWlls ,of .secured P.arty .in the event of Llefault.and without limitation, .secured P.arty .shall have the Tight to take possession of the Collater.al .and 10 enter upon .any premises upon which the Collater.almay be situated for .such purpose without being deemed Euilty of :trespass .and without liability fordaInages thereby occasioned .and to take .any .action Lleemed necessary, .appropriate, or rlesir.able by .secured Party, .at .its option .and .in .its .sole discretion, to repair, Iefurbish, or otherwise prepare the Collater.al for .sale, lease, or other use or disposition.as herein .authorized. 3. To the :extent pennitted by law, Debtor expressly w.aives .any notice of sale or other .disposition of the Collater.al.and.any other Iights or Iemedies of.a Llebtor or formalities prescribed by law I-elative to .sale or disposition Df the Collater.al or exer.cise of .any other right or I-emedy of .secured P.arty existing .after rlefault .hereunder; .and to the extent.any .such notice is Iequired.and .cannot be w.aived, Debtor .ap-ees that if such is mailed, postaEe prepaid, to Debtor at the .address .shown.herein .at least ten (10) days before the 1Ù1le of the .sale or disposition, such notice .shall be deemed Ieasonable .and .shall fully satisfy .any Iequirement for giving of .such notice. 4. After default, .secured P.arty is expressly granted the Iight, .at.its option, to :tr.ansfer, .at.any time to .itself or to its nominee, the Collater.al or .any part thereof .and to Ieceive the IDOnieS, .income, proceeds, or benefits .attributable or.accruing thereto'.and to hold the .same .as security for .amounts owing on.any of the indebtedness or to .apply it to the pr.incipal.and interest or other .amounts owing on.any of the .indebtedness, whether or not:then rlue, .in suchma.nner .as .secured P.arty may ele.ct. All IWlls to marshaling of .assets Df Debtor, inc.lnrlinz .any .such Iight with respect to the CDl1ateral,are .hereby w.aived. .PlIge4 Df7 ¡ .5MSNDC/OOOO/RR080003 ::::;~::*~:::;:::::;; ::M!::~::-::::!d;;: ~mw;~¡¡¡~~p;·;I:;¡íi'illli .~;t¡j;-,j¡,.1ÍI\~;~:l.!,!,¡ ",., q'.: I;t .,t·"..~ \ ,::::,:~:!:!:~:;;,: Ift·~,··!;f;t;'fj'f·' ..'.................-..". . . . ",";'-','''''-:1.;':0'.,..., Ú f,. ~'l U "','..)' "-" A.;, .. -.J' ~ /1<... 000242 LOJIII No: 00618479.21 :;. All recitals in.any instrument of ASsiznment or .any other instrument executed by Secured PMty or by Trustee incident to 1>ale, trMlSfer, ASsi,gnment, lease, or other disposhion or ntili7.;:¡tion of the Collateral; or BIlY part !1rereof hereunder 1>hal1 be 1>ufficient to establish full legal propriety of the sale or other action or BIlY fact, condition, or 1:hin;g incidental thereto, .and all prerequisites of such sale or other action.and of .any fact, condition, or 1:hin;g incident thereto shall be presllII1ed conclusively to .have been performed or to .have occurred. 6. Secured PMty:may require Debtor to ASsemble!1re Collateral.and make it available to Secured PMty at a place to be designated by Secured PMty that is reasonably convenient to both parties. All expenses of retaking;, holding, preparing for sale, lease, or other use or disposition, sellin.g, leasing, or otherwise using or disposing of the Collateral .and the like .hereunder, incl11ding also all reasonable attorneys' fees, legal expenses, .and costs, 1>hal1 be added to the .indebtedness secured by the Security lnstrument.and Debtor .shall be liable therefor. 7. Certain of !1re Collateral is or will become "fixtures" (.as that term is defined in the Unilorm Commercial Code) on the Pmperty, .and the Security 1nstrument upon being filed for record in the real estate records shall operate also .as a financing 1>tatement upon such of the Collateral that is or may become fixtures. 8. A copy of this Security Instrument, which is .signed by Debtor, may also 1>erve AS a financing 1>tatement 1!IDder the Unilorm Commercial Code between Debtor .and Secured PMty, whose addresses .are 1>et forth herein. 9. So long AS .any .amount remains unpaid on.any indebtedness secured by the Security Instrument, Debtor 1>hal1 not execute .and there .shall not be filed in .any public office .any financing 1>tatement or 1>tatements affecting the Collateral other than financing statements in favor of Secured PMty .hereunder, unless the prior written specific consent.and approval of Secured PMty .shall.have fir1>t been obtained. 10. Secured PMty is authorized to file, injurisdictions where this authorjzation will be given effect, a financing 1>tatement signed only by Secured PMty covering the Collateral .and, at the request of Secured Party, Debtor .shall join Secured Party in -executing one or more financing statements pursuant to the Uniform Commercial Code in form .satisfactory to Secured Party .and .shall pay the cost of filing the same or filing or recording the Security Instrument AS a financing 1>tatement in all public offices at .anytime .and from 1ime to 1ime whenever filing or recording of my financing 1>tat~ment or the Security lnstrument is deemed by Secured Party 10 be necessary or desirable. Any carbon, photographic, or other reproductions of this document may be filed by Secured PMty .and .shall be sufficient AS a financing statement. PJlgC 5 on .5MSNDC/OOOOIRR080003 : ! I i "'H'_~""'''J....____~_..._._",.."."" " I i I - ........--....._....,~. . ".' .......-o....:a.....¿J~. .... '-,-, ·....·"r.·"....,',·~..·"'·.··..,·..~··~.~'''-'-=o.,.·'o.., -"...,,<c-' .r~q"'~1 U 4:'.)1 \.J '-" A.f JL.. ~¡I:.¡, 000243 Loan No: 0067847921 11. Debtor further wammts .and represents 10 Becured .Party !hat, :except for the .security interest ,gr.anted .hereby m the Collater.a1, Debtor is the owner ..and .holder of the Collateral, free of .any .adverse .claim, .security mterest, or encumbrance, .and Debtor ligIees 10 .defend the Collater.a1 4gainst .all .claims .and demands of .any person .at .any time .c1aimin.£ the .same or .any interest therein, :except rights of 1enants 10 use :thereof .and .subject 10 the other :m.atters .set forth .herein. Debtor further WmT.ants .and represents !hat Debtor .h.as not .heretofore .signed .any financing statements m .connection with the Collateral .and that there ..are no.financing 1)tatement" 1)igned by Debtor now on file ill.any public office. F. MISCELLANEOUS PROVISIONS 1. Borrower .sh.all not cre.a1e or permit 10 exist.any liens or encumbr.ances on the property w.hich ..are junior ..and inferior ill 1enns of priority to the Becurity lnstrument, mcluding mechanics' liens .and :m.aterialmem:' liens without Lender'.s .consent. G. TERMINATION OF CONSTRUCTION LOAN.RIDER Bo long .as Borrower is not ill default under the terms of the Note, 1he Agreement, or the Security lnstrument, .and 1)0 long .as Borrower .h.as .completed the .improvements .described ill the Agreement, :this Rider.shall tenninate..and.sh.all thereafter no longer be in clfect. P.age 6 on ;mm!~~~~~i~@¡~1 ..5MSNDC/OOOO/RROBOOO3 l~~¡~~llir¡'~Ì1ij ··_.·_.._._'.'..'n.....__........,_,,__'... . -,,-'..... ........,..-.". ". ',-.......,...'.-,"-'.-.. U921.~j3~~ 000244 .L0JiI1 No: 00678479.21 :By signing below, :Borrower .accepts .and .agrees to the terms .and covenants contained .in !his Construction Loan Rider to Security lnstrument.and Security Agreement. ~úJC~ TODD W. CLARK (Seal) -.Borrower Debtor'.s Mailing Addre.s.s: ..226 COTTONWOOD DRIVE CTY.RD151, SMOOT, WYOMING 83110 Page 7 on 5MSNDC/OOOOIRR080003 .................,........... qqr.J·10" JI".> II,J 'J f'" L "}' oJ...... OÜ0.2tt5 i I I II Record.andReturn 1J byMaiI1J by Pickup 10: I I WellS F.argo Bank, N.A.-Construction Lending 2701: Wells Fargo Way, MACH X9999-01T Minneapolis, Minnesota 55467 ! MANUFACTURED HOME RIDER TO SECURITY .INSTRUMENT This Rider is made íhis AUGUST.25, 2006 ,.and is IDcOlponlted IDtO.and .amends.and supplements the Mortgage, Open-End Mortgage, Deed of Trust, Dr Credit line Deed of Trust, Security Deed ("Security lnstrumenf') of the .same date EÍven by1he undersigned ("Borrower") to secure Borrower's Note to WELLS FARGO BANK, N.A. ('1..;ender") of the.same pate ("Note") .and covering the Property .described.in the Security lnstrument.and located.at: LOT 2.REDTOP SUBDlVlSION, SMOOT, WYOMING83126 (Property Addn:ss) .Borrower .and Lender .agree that the Security lnstrument is .amended.and supplemented 10 read .as follows: 1. Meaning of Some Worm. As used ID íhis Rider, the tenn ·101111 Documents" me.ans the Note, the Security Instrument .and 1111Y Constructi011 L01111Agreemem, .and the tenn IIPIOperty",..as thattenn is defined ID the Security lnstrument, IDcludes the ·'M.anufactured Home" described .in paragr.apb 3 of íhis Rider. All tenns defined.in the Note or the Security lnstrument.shall have the same meil~ìnEID this Rider. 2. Purpose.and .Effect of Rider. .IF THERE 1.8 A CONFLICT BETWEEN TIlE PRoVlSIoNS 1N TIDS RIDER AND TIIoSE .IN TIlE SECURITY lNSIRUMENT, THE PROVISIONS .IN TIllS RIDER SHALL CONTROL. TIlE CONFLICTING PROVISIONS .IN THE SECURITY .INSTRUMENT WILL .BE .ELIMINATED OR MODIFIED AS MUCH AS 1.8 NECESSARY TO MAKE ALL OF TIlE CONFLICTING TERMS AGREE WITH TIllS RIDER. 3. Lender's Securjty lnterest. All of Borrower's ob~ations secured by the Security lnstrument .also .shall be secured by the Manufactured Home: P.age ] ofJ Rev. 8/22/2005 í:¡;::~:::::*::¡~¡:¡:: t:::::t:::::~J!~:;~~ .....Æ:*<.CL.........-....-.... ".-,-.......,.-....~.,.,-."'.,......-""....-"->.~ ., ..,"~". ,...,.,.~...._.-=-....~...... "...'. .,...-.._~..+_....._.....r..., . ""_r-......_'""'-.."'~,,~.....,·,:,.·,,.·...,,~__~,~... ...,."'..". 000246, 0321~3~ New/U'ied Year Manufacturer's Name Model Name or Model No. l..engthl Width Serial No. Serial No. Serial No. Serial No. 4. .Affixation. Borrower covt:nants.and agrees: (a) 10 affix the Manufactured Home 10 a perm;¡n=t foundation on the .PIOperty; (b) 10 comply with .all Applicable .Law regarding the affixation of the Manufactured Home 10 the Property; (c) upon lender's request, 10 surrender the certificate of title 10 the Manufactured Home, jf surrender is pennitted by Applicable Law,.and to obtain the requisite governm=t;¡l approval.and documentation :necessary to classify the ManufacturedlIome.as real property under Applicable Law; (d) that.affixing the Manufactured Home 10 the Property .does not violate any zoning laws or other local requirements applicable to the .PIOperty; (e) that the Manufactured Home will be, at all times.and for.all pwposes, pennanently affixed to and part of the PIOperty. Charges; Liens. Section 4, .ParaNaph 1 of the Security lnstrument is .amended to .add a:new third sentence 10 read: Borrower .shall promptly :fumish to Lender all notices of amounts to be paid under this paragraph.and receipts evidencing the payments. 6. F.roperty .Insurance. Section 5, Paragraph 1 of the Security 1mtrument is .amended to .add a:new second sentence to read: "Whenever the Manufactured Home is transported on the .highway, Borrower must .have :trip .lDSurance. 7. Notices. The second sentence of Section 15 of the Security lnstrument is amended by.inserting the words "unless otherwise required by law' at the end. B. Additional Events of DefJtult. Borrower will be.in default under the Security 1mtrument: (a) jf any structure on the PIOperty, including the Manufactured Home, .shall be removed, .demolisbed, or substantially altered; (b) jf Borrower :fails to comply with any requirement of Applicable .Law (Lender, however, :may comply.and.add the expense to the principal balance Borrower owes to L-enrler); or (c) jfBorrower Nants or pennits any lien on the .Property other than Lender's lien, or liens for taxes .and .assessments that .are not yet due .and payable. 9. Notice ofDefuult. 1£ required by Applicable Law, before using a remedy, Lender will send Borrower any .notice required by law, and wait for any cure period that the law:may require for that remedy. 10. Additional Rights of Lender in Event of Foreclosure and Sale. In.addition to those.rights gr.anted.in the Note .and Security lnstrument, Lender .shall .have the following rights .in the event Lender commences proceedings for the foreclosure.and sale of the Property. (a) At Lender's option, to the extent pemùtted by Applicable Law, Lender :may elect to treat the Manufactured Home as personal property ("Personal Property Collateral"). Lender may repossess peacefully nom the place where the .Personal Property Collateral is located without Borrower's pennission. Lender also :may require Borrower to J:Dak:e the .Personal Property Collateral available to Lender at a place L-enrler designates that is reasonably convenient to Lender .and Borrower. At Page2 on Rev. 8/22/2005 ·"··..:'O...LA"'",O:..._.__.,. ",.. ',:.-',' ~ ~~':'__'.J''"'!'!'1>J'" :~~~ ·_·.·.,;.t¡·;,...:,·.u.··. ,"'~"__'-~~-';:';,¡ -.~'iJ;-~·J:..-·,r,,!.h; ""';!,;",'-O' --~-' -. ". - ':.... __ ";'. ".'!..,:c." J~'-:~~¡ ',. ;:ó .:;~,;. ;", ". .,.~- ,- , -' . ,-,' ;. .T"..:" '~'" . 000247 U3:2:193~ .Lender's option, to the extent pennitted by Applicable .Law, .Lender may .detach .and remove ]>ersonal :PIOperty Collateral.:from the :PIOperty, or .Lender may take possession of it.and leave it .on the :Property. Borrower agrees to cooperate with Lender if Lender exercises these rights. (b) After .Lender repossesses, lender may sell the Personal Property Collateral .and llpply the .sale proceeds to .Lender's reasonable repossession, repair, stomge, .and sale expenses,.and then toward .any other .amounts Borrower owes under the loan Documents . (c) 1n the event of .any foreclosure .sale, whether.made byT:rustee, or underjudgment Ofll court,lIl1 of the real .and .Personal Property Collaterlll..may, llt the option of Lender, be sold .as a whole or .in parcels. 1t.shall not be necessary to have present llt the place of such sale the .Personal Property Collateral or .any part thereof. .Lender,.as WellllS Trustee on .Lender's behalf, .shall have lIl1 the rights, remedies .and recourse with respect to the .Personal Property Collateral .afforrled toa "Secured Party" by Applicable.Law .in llddition to, .and .not.in limitation of, the other rights.and recourse .afforrledLender.and/or T:rustee under the Security Instrument. By.signing below, Borrower llCCepts and llgrees to the terms .and covenants contained in this Rider. ~¿J ç~j Ghl~!~,dCJN-, 0j) 0 Q C. .PATRIClAL CLARK , .- ::::FOF ~ . ¡ .... ,On,the . QS rb rlayof .in the year 20 0 £:, before :me, the' undersigned, 11 Notary Public.in and for s1lid te, personally.åppeared TODD W. CLARK.and PATRICIA LYNN CLARK ,HUSBAND.AND WIFE I I " personally .known to:me or proved to:me on the basis, of satisfactory evidence to be the indiv.ichul.l(s) whose 1lilIIle(s) is (are) subscribed to the within instrument.and llcknpwledged to me that .he/she/they executed the smne in hislher/therr .capacity(ies), .and that by ms!her/their sigruiture(s) on the instrument, the individwil(s), or the person on behalf of which the indiv.ichul.l(s) llcterl, executed the IDstrument. I; · /~~ N~. ~Y¿R~ Notary Printed N.ame NotuyPublio;Stateof ~. Qualifierlin the County of ~ _'~ My co1D1I1Îssion exprres: c¡ - /S - D OfficUù Seal: GLORIA K. BYERS - NOTARY PUBUC County of State of .üncoln Wyoming My CommIssion Expires Sept. 15,2007 Drafted.By: Loan Number: 0067847921 :Pllge3 oD Rev. 81'22/2005 :::;;:;¡, @ r;;, ~: