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Home My WebLink About922724 ~ 000677--_ --. -... After Recording Return To: CHAPEL FUNDING, LLC, ATTN: SHIPPING DEPT. 26521 RANCHO PARKWAY SOUTH, SUITE 210 LAKE FOREST, CALIFORNIA 92630 Loan Number: 254141 RECEIVED 9/2212006 at 4:13 PM RECEIVING # 922724 BOOK: 634 PAGE: 677 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WV (Space Above This Une For Recording Data] MORTGAGE . . NUN: 1004872-0000002750-4 TIllS MORTGAGE is made this 8th day of SEPTEMBER 2006 , between the Mong~or,ROCKY R. IMESON AND CRYSTAL D. IMESON, HUSBAND AND WIFE AS JOINT TENANTS , (herein "Borrower"), and the Mong~ee, Mortgage Electronic Registration Systems, Inc. ("MERS"), (solely as nominee for Lender, as hereinafter defined, and Lender's successors and assigns). MERS is organized and exisÜßg under the laws of Delaware, and bas an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. CHAPEL FUNDING, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY is organized and exisÜßg under the laws of CALIFORNIA and bas an address of 26521 RANCHO PARKWAY SOUTH, SUITE 210, LAKE FOREST, CALIFORNIA 92630 (herein "Lender"). WHEREAS, Borrower is indebted to Lender in the Principal sum of U.S. $ 22, 000 . 00 , wbich indebtedness is evidenced by Borrower's note dated SEPTEMBER 8, 2006 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance of the indebtedness, if not snoner paid, due and payable on OCTOBER 1, 2021 TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mong~e; and the performance of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of LINCOLN , State of Wyoming: LOT SEVENTEEN (17) OF THE WESTVIEW VILLAGE SUBDIVISION IN LINCOLN COUNTY, WYOMING AS FILED AND PLATTED IN THE LINCOLN COUNTY CLERK'S OFFICE IN KEMMERER, WYOMING, AND THE HOME THEREON A.P.N.: 12-3118-06-3-04-022.00 THIS SECURITY INSTRUMENT IS SUBORDINATE TO AN EXISTING FIRST LIEN(S) OF RECORD. WYOMING - SECOND MORTGAGE - 1/80 3851 - AS AMENDED FOR MERS Page 1 of 7 ~~ 800-649-7362 www.docm..t:øm :.::::'>.:~::.::::;::! ~:~~:':'::~~1:~i¡ ¡¡;(- ~~~~mm~~~~Œ:: 092272~ 000678 which bas the address of 105 WESTVIEW DRIVE AFTON . Wyoming [Street] 83110 [Zip Code] (herein "Property Address"); [Cily] TOGETHER with all the improvements now or hereafter erected on the property, and all easements. rights, appurtenances and rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together with said property (or the leasehold estate if this Mortgage is on a leasehold) are hereinafter referred to as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Mortgage; but, if necessary to comply with law or custom, MERS. (as nominee for Lender and Lender's successors and assigns), bas the right: to exercise any or all of those interests, including, but not limited to. the right to foreclose and seD the Property; and to take any action required of Lender including, but not limited to, releasing or cancelling this Mortgage. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and ha¡ the right to mortgage. grant and convey the Property. and that the Property is unencwnbered, except for encumbrances of record. Borrower covenants that Borrower warrants and wiD defend generally the title to the Property against all claims and demands. subject to encumbrances of record. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness evidenced by the Note and late charges as provided in the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender. Borrower shall pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a swn (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominiwn and planned unit development assessments. if any) which may attain priority over this Mortgage and ground rents on the Property. if any. plus one-twelfth of yearly premiwn installments for hazard insurance. plus one-twelfth of yearly premiwn installments for mortgage insurance. if any. all as reasonably estimated iJútially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender . If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes. assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes. assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes. assessments, insurance premiums and ground rents as they fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application as a credit against the swns secured by this Mortgage. WYOMING - SECOND MORTGAGE - 1/80 3851 - AS AMENDED FOR MERS Page 2 of 7 Døc:MIIgic~ BOO-IUg.1362 WWW.døcmllgic.r:øm a ((:f U92272~ 000679 3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note, and then to the principal of the Note. 4. Prior Mortgages and Deeds of Trust; Charges; Uens. Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien wlúch has priority over this Mortgage, including Borrower's covenants to make payments when due. Borrower shall payor cause to be paid all taxes. assessments and other charges. fines and impositions attributable to the Property wlúch may attain a priority over this Mortgage. and leasehold payments or ground rents, if any. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fife. hazards included within the term "extended coverage", and such other hazards as Lender may require and in such amounts and for such periods as Lender may require. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided. that such approval shall not be unreasonably withheld. All insurance policies and renewals th,ereof shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. 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. If the Property is abandooed by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Mortgage. 6. Preservation and Maiotenaoc:e of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a plaooed unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development. the by-laws and regulations of the condominium or planned unit development, and constituent documents. 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property , then Lender. at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Cond..mnidon. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of any mortgage. deed of trust or other security agreement with a lien which has priority over this Mortgage. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time WYOMING - SECOND MORTGAGE -1/80 3851 - AS AMENDED FOR MERS Page 3 of 7 DocM8gk;~ 1IOO-649-1J62 www.døcm.gic.com ((:f- ::;~:;~~~::::::.:~: .'.·.'N·::::,·,·.·.· :.:. :·~(:i{!ift~:·:·;,:.I US2Z72~ 000680 for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage, (b) is not personally liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this Mortgage or the Note without that Borrower's consent and without releasing that Borrower or modifying this Mortgage as to that Borrower's interest in the Property. 12. Notice. Except for any notice required under applicable law to be given in another manner, (a) ~y notice to Borrower provided for in this Mortgage shall be given by delivering it or by mailing such notice by cerÌified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Leoder may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this Mortgage. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Mortgage and the Note are declared to be severable. As used herein, "costs", "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein. 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with improvements made to the Property. 16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Mortgage. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage. If Lender exercises this option, Lender shall give Borrower notice of acceleration. . The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Mortgage. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Mortgage without further notice or demand on Borrower. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date. not less than 10 days from the date the notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in acceleration of the sums secured by this Mortgage. The notice WYOMING - SECOND MORTGAGE - 1/80 3851 - AS AMENDED fOR MERS Page 4 of 7 Doc:MIIgIc~ BCJO.1U9-1362 www.docm.gic.cøm Gt- I:;: 092272~ 000681. shaU further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be immediately due and payable without further demand and may invoke the power of sale and any other remedies pennitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses inCUlTed in pursuing the remedies provided in this paragraph 17, including. but not limited to, reasonable attorneys' fees. If Lender invokes the power of sale, Lender shaU give notice of intent to foreclose to BOlTower and to the person in possession of the Property, if different, in accordance with applicable law. Lender shall mail a copy of a notice of the sale to Borrower in the lDaJUIer provided in paragraph 12 hereof. Lender shall publish the notice of sale and the Property shall be sold in the manner prescribed by applicable law. Lender or Lender's designee may purchase the Property at any sale. Tbe proceeds of the sale shall be applied in the following order: (a) to all reasonable costs and expenses of the sale. including, but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this Mortgage; and (c) the excess, if any, to the person or persons legally entitled thereto. 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secw:ed by this Mortgage due to BOlTower' s breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to the earlier to occur of (i) the fifth day before the sale of the Property pursuant to the power of sale contained in this Mortgage or (ü) entry of a judgment enforcing this Mortgage if: (a) BOlTower pays Lender all sums which would be then due under this Mortgage and the Note had no acceleration occurred; (b) BOlTower cures all breaches of any other covenants or agreements of BOlTower contained in this Mortgage; (c) BOlTower pays all reasonable expenses incurred by Lender in enforcing the covenants and agreements of BOlTower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including. but not limited to. reasonable attorneys' fees; and (d) BOlTower takes such action as Lender may reasonably require to assure that the lien of this Mortgage. Lender's interest in the Property and BolTower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower. this Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred. 19. Assignment of Rents; Appointment ofRec:eiver; Lender in Possession. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property. provided that Borrower shall. prior to acceleration under paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration under paragraph 17 hereof or abandonment of the Property, and at any time prior to the expiration of any period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, shaU be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied fIrSt to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees. and then to the sums secured by this Mortgage. Lender and the receiver shaU be liable to account only for those rents actually received. 20. Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage without charge to Borrower. Borrower shall pay all costs of recordation. if any. 21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property. 22. The following Riders are to be executed by Borrower (check box as applicable]: o Adjustable Rate Rider !XI Balloon Rider o 1-4 Family Rider o Condominium Rider o Planned Unit Development Rider o Biweekly Payment Rider D Second Home Rider D Other(s) (specify] WYOMING - SECOND MORTGAGE - 1/80 3851 - AS AMENDED FOR MERS Page 5 of 7 DocNIagJc~ 800-649-7362 www.docmllgic.œm ¡i,1 ilj¡'.;;i~ ::~..ltt:::::::;:;;: ¡:r ili~'::7:~::$¡~:¡::¡~~ r1<·"·~~·t',Ii"-,"', I~:'~~:E~:;:XL~ I\~~~~*~];~W 000682 1]922724 REQUEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SUPERIOR MORTGAGES OR DEEDS OF TRUST Borrower and Lender request the bolder of any mortgage, deed of trust or other encumbrance with a lien which has priority over this Mortgage to give Notice to Lender. at Lender's address set forth on page one of this Mortgage. of any defauJt under the superior encumbrance and of any sale or other foreclosure action. IN WITNESS WHEREOF. Borrower has executed this Mortgage. ~~~ (SeaJ) -Borrower ~~ ~STAL D. IMESON . . (Sea]) -Borrower (SeaJ) - Borrower (Sea]) -Borrower (SeaJ) -Borrower (Sea]) -Borrower WYOMING - SECOND MORTGAGE - 1/80 3851 - AS AMENDED FOR MERS Page 6 of 7 Poc:NIIIgk;~ 800-649-7362 www.docnuIgic.l:lItn U92272~ 00068:1' STATE OF WYOMING, LINCOLN County ss: This foresotng ............ was ockoow1edgod before me Ihb rzü ~ fþ ~ be r à::t:L by ROCKY R. IMESON, CRYSTAL D. IMESON CHERYL A. JONES - NOTARY PUBUC CoiDy of..ta Stale of l.W1coln . Wyoming My Commission Expires Feb. 4, 2009 (person ackDowledging] WITNESS my hand and official seal. My Commission expires: WYOMING - SECOND MORTGAGE - 1/80 3851 . AS AMENDED FOR MERS Page 7 of 7 DocAIBgIc~ BOO-Ii49-1362 www.tJocm.git:.com '.t::::::::~6:::::::~¡\1 tll·''·f'·!.\··~~:1 ~~;;I~~~i~§~~;mI~~: ;::: ¡;mm~f;i~tj!;¡}:¡ n9227Zt."t 000684 Loan Number 254141 BALLOON PAYMENT RIDER TO MORTGAGElDEED OF TRUST THIS RIDER is made this 8th day of SEPTEMBER, 2006 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note (the "Note") to CHAPEL FUNDING, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY (the "LeDder") of the same date and covering the property described in the Security Instrument and located at: 1 0 5 WESTVIEW DRIVE, AFTON, WYOMING 83110 .. (property Address) Borrower understands that the Note may be transferred by Lender and by Lender's successors and assigns. The beneficial owner of the Note from time to time is included within the tenn "Lender.. ADDmONAL COVENANfS. In addition to covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: BALLOON PAYMENT NOTICE: This loan is payable in full at the "Maturity Date" stated in the Note. Borrower must repay the entire principal balance of the loan and unpaid interest then due. Lender is under no obligation to refinance the loan at that time. Borrower will. therefore. be required to make payment out of other assets that Borrower may own, or Borrower will have to fmd a lender. which may be the lender that Borrower has this loan with. willing to lend the money. If Borrower refinances this loan at maturity, Borrower may have to pay some or all of the closing costs nonnally associated with a new loan even if Borrower obtains refmandng from the same Lender TIllS LOAN HAS A BALLOON FEATURE, MEANING THAT THE MATURITY DATE OCCURS AT THE 180th MONTHLY PAYMENT DUE DATE. THEREFORE. IT IS ANTICIPATED THAT A SUBSTANTIAL UNPAID BALANCE WILL REMAIN WHICH BORROWER MUST PAY IN FULL AT THAT TIME. BY SIGNING BELOW. Borrower acknowledges agreement to the specific provisions of the Note as described in this Note Rider. y~ r,¡/zÞ£ ~dIH(7-/'~ ~Ø!(¿7~ Borrowe Date B rrower Date ROCKY R. IMESON CRYSTAL D. IMESON Borrower Date Borrower Date Borrower Date Borrower Date ORIGINAL BALLOON PAYMENT RIDER TO MORTGAGElDEED OF TRUST o..c- s)'IIemo,!IIe. (100) Ht-I3i2 U922724 000685 (Space Above This line For Recording Datal . . Loan Number: 254141 BALLOON RIDER THIS BALLOON RIDER is made this 8 th day of SEPTEMBER 2006 , and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned ("BolTower") to secure BOlTower's Note (the "Note") to CHAPEL FUNDING, LLC, A CALI FORNIA LIMITED LIABILITY COMPANY (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 105 WESTVIEW DRIVE, AFTON, WYOMING 83110 [Property Address) The interest rate stated on the Note is called the "Note Rate." The date of the Note is called the "Note Date." I understand the Lender may transfer the Note. Security Instrument and this Rider. The Lender or anyone who takes the Note, the Security Instrument and this Rider by transfer and who is entitled to receive payments under the Note is called the "Note Holder." ADDmONAL COVENANTS. In addition to the covenants and agreements in the Security Instrument, Borrower and Lender further covenant and agree as follows (despite anything to the contrary contained in the Security Instrument or the Note): TillS LOAN IS PAYABLE IN FULL AT MATURITY. YOU MUST REPAY THE ENTIRE PRINCIPAL BALANCE OF THE LOAN AND UNPAID INTEREST THEN DUE. THE LENDER IS UNDER NO OBUGATION TO REFINANCE THE LOAN AT THAT TIME. YOU WILL, THEREFORE, BE REQUIRED TO MAKE PAYMENT OUT OF OTHER ASSETS THAT YOU MAY OWN, OR YOU WILL HAVE TO FIND A LENDER, WHICH MAYBE THE LENDER YOU HAVE TIllS LOAN WITH, WlU.ING TO LEND YOU THE MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HAVE TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH ANEW LOAN EVEN IF YOU OBTAIN REFINANCING FROM TIlE SAME LENDER. MULTI STATE BAlLOON RIDER 04/26/04 Page , of 2 Doc:Ifeøk;eJiImImI! 800-649-1362 www.doc:mllgic.CDm :;:;';':::1:,'41.:::;; C'·II~'I. i,',I.' t!_~ ¡if :)!;~~~~~~fV: n92272{~ 00068'6 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Balloon Rider. ~¿¿:~9irÞ¿ Do . . Borrower Date Borrower Date Borrower Date Borrower Date MUL TIST ATE BAllOON RIDER 04/26/04 Page 2 of 2 DocM.gIc~ BOO-649-1362 www.døcm..com