HomeMy WebLinkAbout922993
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AfteI' Recording Return To:
GHAC Mortgage Corp.
100 Wit:lller Road
HorshamL PA 19044-0963
ATTH: Hecords llanagement
RECEIVED 10/212006 at 4:13 PM
RECEIVING # 922993
BOOK: 635 PAGE: 575
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
(s,.ø.u-c nil J.- Jl..- Dr II'''' JWa)
L.. Ne.. 591962505
MIH 1000315-0591962505-3
MORTGAGE
DEFINITIONS
, .
Words used in multiple sections of this documœt lire defined below and other words are defmed
in Sections 3. II. 13, 18. 20 and 21. Catain rules regarding the usage of words used in this
docummtllre 8Iso pmvided in Section 16.
(A) "Seauity ~" means this dnr.annent, which is dated September 21,
2006 . togdba- with all Riden to this docummt.
(II) ....nvw... is
Randall G. Draney and Gwen Draney
BorrowCf' is the mortgagΠunder this Security Instrumeat.
(C) "MEJtS" is MoI1gage Electrooic RegistndÍÐO Syslems. Inc. MERS is a gep8£ate
corporatioo that is aing solely as a 1IIVI1n- foc Lœder and Leader's successors 8Dd assigns.
MEltS II die ...nppe ..... dúa Seautiy........ ., MERS is ocganized 8Dd existing
uodcr the laws of Delaware. IUd bas 811 address and telqJbooe IlUIIlber of P. o. Box 2026. Flint,
MI 48501-2026. tel. (888) 679-MERS.
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(D) "Lea..... is
GMAC Hortqaqe Corporation
L~isa Corporation
laws of Pennsylvania
100 Witmer Road, P.O. Box 963, Horsham, PA
organized and existing under the
Lender' s address is
19044
(E) "Note" means the promissory note signed by BorroweJ" and dated September 27,
2006 . The Note states that Borrower owes Lender
One Hundred Forty Four Thousand and 00/100
Dollars (U. S. $ 144, 000. 00 ) plus ink%'esl Borrower has promised to pay this
debt in regular Periodic Payments and to pay the debt in full not later than
October 1, 2036
(F) "PnÞperty" means the property that is described below under the heading "Transfer of
Rights in the Property. "
(G) "Leala" means the debt evide:nœd by the Note, plus ink%'est, any prepayment charges
and late charges due under the Note., and all SIDJlS due under this Security Instrwnent, plus
interest.
(II) "Riden" means all Riders to this Security Instrument that are executed by Borrower.
The following Riden are to be executed by Borrower [check box as applicable]:
D Adjustable Rate Ridec
o Balloon Rider
D Othec(s) [specify]
D Condominium Rider iOO
o Biweddy Payment Ridec D
o Planned Unit Developmœt Rider
Second Home Rider
1-4 Family Rider
(I) "AppIkahIr ...." means all controlling applicable f~al, state and local statutes,
regulations, orðjnlll1OeS and admini!ltrative rules and orders (that have the effect of law) as well
as all applicable final. non-appealable judicial opinions.
(J) nc-..uy Auedaüoa n.a, Fea, ud Aueu....." means all dues. fees.
8S.~t!l and other charges that are imposed on Borrower or the Property by a condominiwn
association, homeowners association or similar organization.
(K) "DectroDie F...... Tnuufer" means any transfer of funds, other than a transaction
originated by check. draft, or similar paper instrument, which is initiated through an electronic
terminal. telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize
a financial institution to debit or aedit an account. Such term includes, but is not limited to,
point-of-sa1e transfers. automatOO teller JTlacltine transactions, transfers initiated by telephone,
wire transfers. aod 11l1tOO1I1OO clearinghouse transfers.
(L) "E1a'VW Itau" means those itans that are described in Section 3.
(M) "MheeDa8eOlU Prvceeda" means any compc:nsation, settlement., award of damages, or
proceeds paid by any third party (other than insurance proceeds paid under the coverages
described in Section 5) for: (i) damage to, or destruction of, the Property~ (ü) condemnation or
otber taking of all or· any part of the Property; (ill) conveyance in lieu of condemnation; or (iv)
misrepresentations of, or omissions as to, the value and/or condition of the Property.
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(N) "Mort..........." means ÍDSuranœ proteáing Lender against the nonpayment of.
or default on, the Loan.
(0) "Periodk PaJDIellt" means the regularly scheduled amount due for (i) principal and
intecest undc:I' the Note. plus (ü) any amounts uoda- Section 3 of this Security Instrument.
(P) "JlESPA" means the Real Estate Settlement Procedures Act (12 D.S.C. §2601 et seq.)
and its impJr.menting regulation, Regulation X (24 C.F.R. Part 3500), as they might be
amended ûom time to time, or any additional or SUcce9SOf legislation or regulation that governs
the same subject matter. As used in this Security Instrument, "RESPA" refers to all
requirements and restrictions that are imposed in regard to a "feda'alIy related mortgage loan"
even if the Loan does not qualify as a "feda'alIy related mortgage loan" undc:I' RESP A.
(Q) "SIKauor ia IIIterat of .1'I'ØWer" means any party that has taken title to the
Property. whether or DOt that party has a.........-I Borrower s obligations undc:I' the Note audlor
this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender. (i) the repayment of the Loan, and all renewals,
extensions and modifications of the Note~ and (ü) the performance of Borrower's covenants and
agreements under this Security Instrument and the Note. F or this purpose, Borrower does
hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's
successors and assigns) and to the successors and assigns of MERS. with power of sale, the
following described property located in the County
fI"1Je fill ø-6Ic ........
.
. .
of Lincoln
IN-"'~ ..........
SEE SCHEDULE -A- A'M'ACBED HERETO AND MADE A PART HEREOF.
which currently has the address of
316 Jefferson Street,
fSD-t}
Afton . Wyoming 83110 ("Property Address"):
[City] [Zip CotJ.]
TOGETIIER WIlli all the improvements now or hereaftec erected on the property, and
all easements, appw1enances. and Í1Xtures now or hereafter a part of the property. All
replacements and additions shall also be covered by this Security Instrument. AIl of the
foregoing is refcm:d to in this Security Instrument as the "Property." Borrower understands and
agrees that MERS holds only legal title to the intecests granted by Borrower in this Security
Instrument. but.. if DeCe"JSary to comply with law or custom, MERS (as nominee for Lender and
Leuder's "PUX".essoI'S and assigns) has the right: to exercise any or all of those interests,
including. but not limited to. the right to foreclose and sell the Property~ and to take any action
required of Leoda- including. but not limited to. releasing and canceling this Security
Instrument.
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BORROWER COVENANTS that Borrowa is lawfully seised of the estate hereby
conveyed and bas the right to mortgage. grant and convey the Property and that the Property is
1l1V!11CUDlbered. except for CDCUIIlbranœs of record. Borrowa warrants and will defend
genaally the title to the Property against aU claims and denumd, subject to any encumbrances
of record.
TIllS SECURITY INSTRUMENT combines uniform covenants for national use and
noo-uniform COVCll8Dts with limited variatioos by jurisdiction to constitute a uniform security
instrwnent covering real property.
UNIFORM COVENANTS. Borrowa and Lender COVCll8Dt and agree as follows:
1. Pay...t ef PriIIdpal, IDterat, EKI'VW' Itau, PrepaYJDellt CIuarga, aad Late
Charpa. Borrower shall pay when due the principal of. and interest on.. the debt evidenced by
the Note and any prepayment charges and late charges due under the Note. Borrower shall also
pay funds for Esaow Items pursuant to Section 3. Payments due under the Note and this
Security Instrument sbaU be made in U. S. currency. However. if my cbeck or otha instrument
received by Lender as payment under the Note or this Security Instrwnent is returned to Lender
\mpaid, Lender may require that any or aU subsequent payments due under the Note and this
Security Insarument be made in one or more of the following forms, as selected by Lender: (a)
cash; (b) money order, (c) cc:rtified chec\:, bank cbeck. treasurer s check or cashier s cbeck.
provided any such cl1eck is drawn upon m institution whose deposits are insured by a federal
agency. instrumentality. or entity; or (d) Electronic Funds Transfa.
Payments are ~ received by Lender when received at the location designated in
the Note or at such otha location as may be designated by Lender in accordance with the notice
provisioos in Section 15. Lender may return any payment or partial payment if the payment or
partial payments are insufficient to bring the Lom current. Lender may accept any payment or
partial payment ins:nffjcjent to bring the Loan CWTent. without waiva of my rights hereunder or
prejudice to its rights to refuse such payment or partial payments in the future. but Lender is not
obligated to apply such payments at the time such payments are accepted. If each Periodic
Payment is applied as of its scheduled due date. then Lender need not pay interest on unapplied
funds. Lender may bold such unapplied funds \mtil Borrowa makes payment to bring the Loan
current. If Borrowa does not do so within a reasonable period of time. Lender sbaU eitha
apply such funds or return them to Borrowa. If not applied carlia, such funds will be applied
to the outq,mÆng principal balance unde:r the Note imrnedistely prior to foreclosure. No offset
or claim which Borrowa might have now or in the future against Lender shall relieve Borrower
from making payments due under the Note and this Security Instrwnent or performing the
. covenants and agreemeots secured by this Security Instrwnent.
2. Applicatioa ef Payaeata or Proceeda. Except as othawise described in this
Section 2, aU payments accepted and applied by Lender sbaU be applied in the following order
of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amo\mts due
under Section 3. Such payments sball be applied to each Periodic Payment in the order in which
it became due. Any remaining amounts sball be applied first to late charges. second to any other
amounts due unda this Security Instrument. and then to reduce the principal balance of the
Note.
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If Lmdec receives a paymcot from Borrower for a delinquent Periodic Payment which
includes a sufficient 8IIlOUDt to pay any late åJarge due, the payment may be applied to the
delinquent payment and the late åJarge. If more thm one Periodic Payment is outstanding.
Lender may apply any payment received from Borrower to the repayment of the Periodic
Paymcots if, and to the exk:ot that. eacl1 paymmt can be paid in full. To the extent that any
excess exists IIfta- the payment is applied to the full payment of ODe or more Periodic Payments,
such excess may be applied to any late åJarges due. Voluntary prepayillents shall be applied
fJTSt to any p-epaymeot charges and then as described in the Note.
Any application of payments. insurance proceeds. or Misœllaoeous Proceeds to
priDcipal due under the Note shall not extend or postpone the due date, or change the amount, of
the Periodic Payments.
3. F__ for EIUOW IteIu. Borrower shall pay to Lender on the day Periodic
Payments are due under the Note, mtil the Note is paid in full. a swn (the "Funds") to provide
for payment of amounts due for. (a) taxes and -..mœts and other- items which can attain
priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
payments or ground rents on the Property, if any; (c) premíwns for any and all insurance
required by Lmdec under Section 5; and (d) Mortgage Insurance p-emíums. if any, or any swns
payable by Borrower to Leoder in lieu of the payment of Mortgage Insurance premíwns in
accordance with the provisions of Section 10. Tbese items are called "Escrow Items." At
origination or at any time during the term of the Loan. Lender may require that Community
A~ation Dues. Fees and A~t,." if any, be esaowed by Borrower, and such dues, fees.
and. ~t!l shall be an Escrow Itan. Borrower shall promptly fwnisb to Lender all notices
of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow
Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items.
Lmdec may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at
any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall
pay directly, when and where payable, the amounts due for any Escrow Items for which
payment of Funds bas been waived by Lender and, if Leoder requires. shall furnish to Lender
receipts evidœcing such payment within such time period as Lender may require. Borrower's
obligation to make such paymcots and to provide receipts shall for all purposes be deemed to be
a covenant and agreement contained in this Security Instrument. as the phrase "covenant and
agreemcot" is used in Section 9. If Borrower is obligated to pay Esccow Items directly,
pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item. Lender may
exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
under Section 9 to repay to Lender any such amount. Lmder may revoke the waiver as to any
or all Escrow Items at any time by a notice given in accordance with Section 15 and., upon such
revocation. Borrower shall pay to Leoder all Funds. and in such amounts. that are then required
under this Section 3.
Lender may, at.any time, collect and hold Funds in an amount (a) sufficient to permit
Lmder to apply the Funds at the time specified under RESP A. and (b) not to exceed the
maximum 8IIlOUDt a lender can require under RESP A Lender shall e!i:tirnate the amount of
Funds due on the basis of ClDTen1 data and reasonable e!i:tmult..... of expeoditures of future Escrow
Items or otherwise in accordance with Applicable Law.
LIWI 110: 597962505 ~ G
WYOMING - .... FIIIIIiy- F.........,.........1JNII'ORU INsrKIJIŒNT .......
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The Funds sball be held in an institution whose deposits are insured by a f~al
agency, instrumentality, or entity (including Leodec, if Lc:ndec is an institution whose deposits
are so insured) or in any F ederaI Home Loan Bank. Lender shall apply the Funds to pay the
Escrow Items no 1atcc than the time specified undec RESP A Leodec sbaIl not charge Borrower
for holding and applying the Funds, annually ana1y7ing the escrow account, or verifying the
Escrow Items, unless Lc:ndec pays Borrower in1aest on the Funds and Applicable Law pecmits
Lender to make such a charge. Unless an agreement is made in writing or Applicable Law
requires intaest to be paid on the Funds, Lender shall not be required to pay Borrower any
intecest or earnings on the Funds. Borrower and Lc:ndec can agree in writing. however, that
in1aest sbaIl be paid on the Funds. Lender" sbaIl give to Borrower, without charge, an annual
8COOUIlting of the Funds as required by RESPA
If there is a surplus of Funds held in esaow, as defined undec RESPA, Lenda sball
account to Borrower for the excess fimds in accordance with RESP A. If there is a shortage of
Funds held in escrow, as defined under RESP A, Lc:ndec sbaIl notify Borrower as required by
RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage in
accordance with RESP A. but in no more than 12 monthly payments. If there is a deficiency
of Funds held in escrow, as defined undec RESPA, Lc:ndec sbaIl notify Borrower as required by
RESP A, and Borrower sbaIl pay to Lender the IIIDOUDt ~ to make up the deficiency in
accordance with RESP A, but in no more than 12 monthly payments.
Upon payment in full of all swns secured by this Security Instrument. Lender shall
promptly refund to Borrower any Funds held by Lender.
4. CIuupr,...... Borrower sbaIl pay all taxes, assessments, charges, fmes, ,and
impositions attributable to the Property which can attain priority over this Security Instrument.
leasehold payments or ground rents on the Property, if any, and Community Association Dues,
Fees, and Þ. ~t$. if any. To the extent that these items are Escrow Items, Borrower shall
pay than in the IIl8DIJa" provided in Section 3.
Borrower sball promptly discharge any lien which has priority over this Security
Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by
the lien in a IIUIDIIa" aceeptable to Lender, but only so long as Borrower is performing such
agreemcot; (b) contests the lien in good faith by, or defends against enforcement of the lien in,
legal pr~1\g.o¡ which in Lender's opinion operate to prevent the enforcement of the lien while
those prnt"1'M11\g~ are pending. but only until such pr~i1\g~ are concluded; or (c) secures
from the holder of the lien an agrecmcot satisfactœy to Lender subordinAting the lien to this
Security Insarumcnt. If Lender determines that any part of the Property is subject to a lien
which can attain priority over this Security Instrume.o.t. Lender may give Borrower a notice
identifying the lien. Within 10 days of the date on which that notice is given, Borrower sbaIl
satisfy the lien or take one or moœ of the actions set forth above in this Section 4.
Lc:ndec may require Borrowa' to pay a ooe-time charge for a real estate tax verification
and/or rq>orting service used by Lender in connection with this Loan.
5. Property laalll'allœ. Borrower sbaIl keep the improvements now existing or
ha-eafter erected on the Property insured against loss by fire, hazards included within the tenn
· extended covcnge,· and any other hazards including, but not limited to, earthquakes and
floods, for which Le:oder requires insurance. This insurance sbaIl be maintained in the amounts
WYOMING -.... I'..,¡ y-P__.................. UNIFODI JNSBI.JIŒNr....-. ~ /'"' ~
GMACM- CMS.IN1.WY (00It1) (page 6 of18) ~
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00058~t
(inchJdn.g deductible levels) and for the periods that Lenda' requires. What Leuder requires
pmsumt to the pr~ing ~t~ can change during the tam of the L08IL The insurance
carrier providing the insurance sbalJ be cho9cn by Borrower subject to Lender's right to
disapprove Borrowel"' s choice, which right shall not be exercised unreasonably. Lender may
require Borrower to pay, in connection with this Loan. eithec: (a) a one-time charge for flood
:zone determination. ca1ií1C8ti0ll and tracking senices; or (b) a one-time charge for flood :zone
determination and cc:rtificatiOll senices and subsequent charges each time remappings or similar
cltange:;¡ occur which reasonably might affect such determination or certification. Borrower shall
also be responsible for the paymmt of 8DY fees imposed by the F edecal Emergency Management
Ageø¡;;y in connection with the review of 8DY flood :zone detenninatíon resulting from an
objection by Borrowa-.
H Borrowa- fails to maintain 8DY of the cova-ages desaíbed above, Lenda' may obtain
insurance cova-age, .. Lender's option and Borrower's expense. Lender is under no obligation
to pmcbase any particular type or amount of cova-age. 'I'hc:f'efore, such cova-age shall cover
Lenda', but might or might not protect Borrowa-, Borrowel"' s equity in the Property, or the
content!!. of the Property, against any risk. hazard or liability and might provide greatel' or lesser
cova-age than was previously in effect. Borrowa- acknowledges that the cost of the insurance
cova-age so obtained might significantly exceed the cost of insurance that Borrowa- could have
obtained. Any amounts disbursed by Lender under this Section 5 shaII become additional debt
of Borrowa- secured by this Security Instrument. These BIJlOUDts shall bear interest at the Note
rate from the date of disbursrment and shall be payable. with such interest, upon notice from
Lenda' to Borrowa- requesting paymœt.
All insurance policies required by Leoda and renewals of such policies shall be subject
to Lender's right to disapprove such policies. shaI1 include a standard mortgage clause, and shall
name Leoda- as mortgagee and/or as an additional loss payee. Lenda' shall have the right to
hold the policies and renewal cc:rtificates. If Leoda- requires. Borrower shall promptly give to
Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of
insurance cova-age, 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. Borrowa- shall give prompt notice to the insurance carria- and
Lender. Lender may make proof of loss if not made promptly by Borrowa-. Unless Lender and
Borrower otherwise agree in writing. any insurance proceeds. whether or not the underlying
insurance was required by Lender, shall be applied to restoration or repair of the Property, if the
restoration or repair is economica11y feasible and Lender's security is not I~ During such
repair and restoration period. Lender sbalJ have the right to hold such insurance pr-oceeds 1Dltil
Lender has had an opportunity to inspect such Property to ensure· the work: has been completed
to LeodeI'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 paymmts as the wock: is completed. Unless an agreement is made in writing or
AppIicable Law requires interest to be paid OIl such insurance proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters,
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or other third parties. retained by Borrowel' 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 Lœde:r's security would be lessened, the insurance proceeds shall be applied to the sums
secured by this Security Instrwnent, whether or not then due, with the excess, if any, paid to
Borrowel'. Such insurance proceeds shall be applied in the order provided f~ in Section 2.
If Borrowel' abandons the Property, Lc:od« may file, negotiate and settle any available
insurance claim and related matters. If Borrowel' does not respond within 30 days to a notice
from Lcodec that the insurance C8ITÍeI' has offered to settle a claim. then Lcodec may negotiate
and sdtle the claim. The 3O-day period will begin when the notice is given. In either event. or
if Leudec acquires the Property under Section 22 or otherwise, Borrowel' hereby assigns to
Lcodec (a) Borrower's rights to any insurance proceeds in an amOWlt not to exceed the amounts
unpaid under the Note or this Security Instrument. and (b) any other of Borrowel"s rights (other
than the right to any refund of unearned premimns paid by Borrowel') under all insurance
policies covering· the Property, insofar 88 such rights are applicable to the covel'age of the
Property. Lœder may use the insurance proceeds either to repair or restore the Property or to
pay amounts unpaid under the Note or this Security Instrument. whether or not then due.
6. 0caIpaIIq. Borrowel' shall occupy. establish, and use the Property 88 Borrower's
principal residence within 60 days after the execution of this Security Instrument and shall
continue to occupy the Property as Borrower's principal residence for at least one year after the
date of occupaocy. wùess Lendec otherwise agrees in writing. which consent shall not be
umeasonably withheld. or unless extmllating circlDm;t~ exist which are beyond Borrower's
control.
7. Pn_"atio~ :ø.ø*--- .... Protedioa of tile Property; IDspedioaa.
Borrowel' shall not destroy. damage or impair the Property. allow the Property to deteriorate or
commit waste on the Property. Wbetba' or not Borrowel' is residing in the Property, Borrowel'
shall maintain the Property in order to preveot the Property from deteriorating or decreasing in
value due to its condition. Unless it is detamined pursuant to Section 5 that repair or
restoratÍoo is not economically feasible. Borrowel' sball promptly repair the Property if damaged
to avoid further deterioratioo or damage. If insurance or ~atioo proceeds are paid in
cmmectíon with damage to, or the taking of, the Property. BorroWel' sball be responsible for
repairing or restoring the Property only if Lender has released proceeds for such purposes.
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. If the insurance or condenmatioo proceeds are not
sufficieot to repair or restore the Property. BorrOWel' is not relieved of Borrower's obligation for
the completioo of such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property.
If it bas reasonable cause. Lmda- may inspect the interior of the improvements on the Property.
Lmda- shall give Borrowel' notice at the time of or prior to such an interior inspection
specifying such reasonable cause.
S. :8orrower'1 Lou ApplicatioD. BorroWel' shall be in default if, during the Loan
application process. Borrowel' or any penoDS or entities acting at the direction of Borrowel' or
with Borrower's knowledge or consent gave materially false, misleading. or inaccurate
infonnation or statements to Leodec (or failed to provide Lc:od« with material information) in
WYOMING - ~ '....-.................... VNIFOItM 1NSBlJIŒNT....._ f?:J') /" r\
GMACM - CMS.~WY (8011) (Page 8 of18) ~ .-J
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mrIIV.diou wi1h the Loan.. M8Ia'iaI rqwesentatioos include. but are DOt limited to,
represeutatioos oooœroing Borrowel's occupaIlGy of the Propaty as Borrowel's principal
nsdeoce..
9. Protft1ioa of ~s hden:st ÍII tile Property.... Ripts D.der dais Seamy
Iastnuae&t. If (a) Borrower fails to perform the covenants and agreements contained in this
Security 1osUument." (b) thel-e is a legal proceeding that might significantly affect Lender's
interest in the Property and/or rights uodeJ" this Security Insrrumeot (such as a proceeding in
bankruptcy, probate. for mndmmatioo or forfeiture. foc mfon:emeot of a lien which may attain
priority over this Security Instrument or to mforce laws or regulations). or (c) Borrower has
abandoned the Property, then Lender may do MOd pay for whatever is reasonable or appropriate
to protect Lender's interest in the Property and rights under this Security Instrument, including
jJC~~ aDJJ/or ...Q.,...,"''\g the v~ of the Pwperty. .aad .ieCUriu.g .aDI1Jo£ rqWring the
PaupØty_ Lada's adíœw QB ~. but an:"1ÎIBÎicd to: (a) payiag .,. ... sccun:d ~ a
liœ wbìd1 bas priority over this Security ~ (b) appearing in c:ourt; and (c) paying
reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security
Instrument, including its secured position in a bankruptcy proceeding. Securing the Property
includes, but is not limited to, entering the Property to make repairs. change locks, replace or
board up doors and windows, drain water from pipes, eliminate building or other code
violations or dangerous conditions, and have utilities turned on or off. Although Lender may
take action under this Section 9, Lender does not have to do so and is not under any duty or
obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions
authorized under this Section 9. .
Any amounts disbursed by Lender under this Section 9 shall become additional debt of
Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate
from the date of disbursement and shall be payable, with such interest, upon notice from Lender
to Borrower requesting payment.
If this Security Instrument is on a leasehold, Borrower shall comply with all the
provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee
title shall not merge unless Lender agrees to the merger in writing.
10. Mortgage Imunmce. If Lender required Mortgage Insurance as a condition of
making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance
in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be
available from the mortgage insurer that previously provided such insurance and Borrower was
required to make separately designated payments toward the premiums for Mortgage Insurance,
Borrower shall pay the premiums required to obtain coverage substantially equivalent to the
Mortgage Insurance previously in effect." at a cost substantially equivalent to the cost to
Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer
selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available,
Borrower shall continue to pay to Lender the amount of the separately designated payments that
were doe when the insurance coverage ceased to be in effect. Lender will accept. use and retain
these payments as a DOD-refundable loss reserve in lieu of Mortgage Insurance. Sucll loss
reserve sbaU be noo-n:fimdable, notwithstaoding the fact that the Loan is ultimately paid in full,
and Leoder sbaU not be required to pay Borrower any interest or earnings on such loss resave.
Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the
LIWf RD' 597962505 ~
WYOMING -..... F...ïIy- F................. _I.INII'OIIY JNS1'I.UMEJlr ...... _
GMACM - CMS.IIG. WY (1181) (page 9 of 18) hIIIiIdI: .
--:'Jillm1;11¡
092;¿993
000584:
amount and for the period that Lender requires) provided by an insurer selected by Lender again
becomes øvaiJable, is obtained, and Lender requiTes separately designated payments toward the
premiums for Mortgage Insurance. If Lender- required Mortgage Insurance as a condition of
making the Loan and Borrower was required to make separately designated payments toward the
premiums fŒ Mortgage In.suraoœ. Bouowef' sbalI pay the premiums required to maintain
Mortgage Insurance in effect., or 10 provide a non-refundable loss reserve, until the Lender's
requirement fO£ Mortgage Insurance ends in accordance with any written agreement between
Borrower aod Lender pro\'Ïding fo.- such termination or until termination is required br
Applicable Law. Nodúng in tbis Section 10 affects Borrower's obligation to pay interest at the
rate provided in the Note.
MŒtgage Iusunoœ reimburses Leodef' (0.- any entity that purchases the Note) fŒ
certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a
party to the Mortgage Insurance.
Mortgage insurers evaluate their total risk. on all such insurance in force from time to
time, and may enter into agreements with other parties thai share O£ modify their risk, or reduce
losses. These agreements are on terms aod couditioos that are satisfactory to the mortgage
insurer and the other par1y ( or parties) to these agreements. These agreements may require the
mortgage insurer to make payments using any source of funds that the mortgage insurer may
have available (which may include funds obtained from Mortgage Insurance premiums).
As. result of these agreements, Lender, any porcbaser of the Note, another insurer,
any reinsurer, /lilY other entity, or any affiliate of any of the foregoing, may receive (directly or
indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's
payments fΠMortgage Insurance, in exchange fOf" sharing or modifying the mortgage insurer's
risk, Πn:ducing losses.. If such agreement provides that an affIliate of Lender takes a share of
the insurer" s risk: in exdumge {Of" a share of the pr-emíoms paid to the insurer, the arrangement is
often tern:Ied "captive reinsurance." Further:
. <a> by ...... ~$ will ... affect ÜIe MlGllDU tIaat Barrower Iaas agftCd ...
pay fer ModI. ~ or _y edIer tenu of ÜIe Loa-. s.Ia qreaDadl will ...
ÍIIa'eUe tile ....... Bonøwer will ewe for Mort~ ......11UIœ, aad they will !lOt eotitIe
Barrower ... ..y nfuDd.
(b) Ally .... apwa--" wW ... affect ÜIe ....u BaITOWU Iaas - if &BY - witla
nspect Ie tile Mert&qe ~ ..... ÜIe ~n PJ8tediea Ad of 1998 or _y
edIer..... TIIeIe riptI ..y iIIdIIde die rïpt to ftœive œrtabt diadomres, to request &lid
obtaia _--n..fiIm of die Mortgage hasuraDce, to bave tIae Mortp.&e huuraaœ termbWed
"~..~Y. "'¡¡er to naive a n:f1Iad of _y Mo"'JIIe ~ pl'aÙUIIU tIaat Weft
IDIeaI1IIaI at die u.e of ...... aaaIIatioII er ~
J J. AssipJBatt of MiIœIIaBeotm Pruœeds; Forfeittrre. AU Miscellaneous Proceeds
..e ba:eby assigned to and shall be paid to Lender.
WYOMING - BiII&k FMIiIy- F...... MaoiF....... Mac UNJFOIUIINSJ1UJIoŒN'T _.. J':Jr'., fì ~
GMACM - CMS.IICZ.WY (1101) (Page 10 of 18) ~~
la9~;¿9S:..i.
000585
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restocatioo
Of" repair of the Property, if the restondion Of" repair is ecooomically feasible and Lender's
security is not lessened. During such repair and restoration period, Lender shall have the right
to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such
Property to ensure the work has been oomp1eted to LeudeI's satisfaction, provided that such
iospection sbaII be uodcrtaten promptly. Lender may pay fOf" the repairs aod restOf"ation in a
single disbursement or in a series of progress payments as the wort is completed. Unless an
agreement is made in writing or Applicable Law requires interest to be paid on such
Mj~l~ Proceeds, LendeJ- shall not be required to pay Borrower any interest Of" earnings
on such MisceUaoeous Proceeds. If the restoration Of" rq>air is not eoonomically feasible Of"
Lender's security would be Iessened, the Miscellaneous Proceeds sbaU be applied to the smns
secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
Borrower. Such Miscdlaneous Proœeds sba11 be applied in the order pi'O'..-ïded for in Section 2.
In the event of a total taking, destruction, 01" loss in value of the Property, the
Míscdlaoeoos Proceeds sbalI be applied to the swns seemed by this Security Instrument,
whetber or not then due. with the excess, if any, paid to Borrower.
In the event of a partial taking. destruction, Of" loss in value of the Property in which
the fair JlUllt:et value of the Property immediately before the partial taking, des:truction, oc loss
in value is equal to or greater than the amount of the sums secured by this Secwity Instrument
immediately before the partial taking. destruction, or loss in value, unless Borrower and Lender
otherwise agree in "TitÏng. the sums seemed by this Security Instrument shall be reduced by the
amount of the Miscellaneous Proceeds multiplied by the following fractioo: (a) the total amount '
of the sums secured immediately before the partial taking, destruction, or loss in value divided
by (b) the fair market value of the Property immediately before the partial taking. destruction, or
loss in value. Any balmœ shall be paid to Borrowa-.
. In the event of a partial taking. destruction, Of" loss in value of the Property in which
the fair madet value of the Property immediately before the partial taking, destruction, or loss
in value is less than the amount of the sums secured irnmediatlf"-1y before the partial taking.
destruction, or loss in value. unless Borrower and Lender otherwise agree in writing. the
Miscellaneous Proceeds sball be appIiaJ to the sums secured by this Security Instrument wbdber
or DOt the smns are then due.
If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower
thai the Opposing Party (as defmed in the next !;ð\teN"P.) offen to make an award to settle a
claim fOf" d~, Borrower- fails to respood to Lender within 30 days after- the date the notice
is given. Lcoder is mthorized to conect and apply the MisœlJaneous Proceeds either to
restoration or repair of the Property or to the sums secured by this Security Instrument. whether
or not tbeo due. wOpposing Partyw means the third party that owes Borrower Misœllaoeous
Proceeds or the ~ against wboo1 Borrower- bas a right of action in regard to Misccllaoeous
Proœeds.
LDAR BO: 591962505 ~
WYOMING -1iiIIIF,....-......... ~.., UNJroIUoI IN Œ1WJoIÐlI' .....
GIrL\CM - CllS.IeG. WY <-) (Pøp 11 ~ 18) IIiIiIIII.: GÞ
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Borrower shall be in default if any action or pr~ing, whether civil or criminal, is
begun duIt, in Lc:odc:r's judgment, could result in forfeiture of die Property or otha- material
impairment of Lender s interest in the Property or rights 1IIldt%- 1his Security Instrument.
Borrower can cure such a default and, if acceleration bas occurred. reinstate as provided in
Sectioo 19, by causing the action or p.-~ing to be dj!lrni~'1If".d with a ruling that. in Lender's
judgment. pn:dudcs fœfc:itm-e of die Property or other- material impairment of Lender' s interest
in the Property or rights UDder 1his Security Instrument. The proceeds of any award or claim for
damages that ..e attributable to the impairment of Lender's interest in the Property are hereby
assigned sod sba1l be paid to Lender.
All Misceßaoeous Proceeds ~ 8re DOt lIppIied to n:storatim or repair of the Property
shall be øppIícd in the onJa- provided for in Section 2.
12. :aon.wer Not IIeIeuetI; F.ñearaace By :I..eJMIer Not. Waiver. Extension of
the time for paymr.o1 Of" modiflC81ioo of IIIDOrtization of the sums secured by this Security
Insarome:ot grated by Lender to Borrower or my SoccessoI- in Interest of Borrower shall not
operate to release the liability of Borrower or my Socœssors in Interest of Borrower. Lender
sbaU not be requíred to mm~ pr(W'1'1.rtingl1o against any Successor in Interest of Borrower or
to refuse to C!dœd time for payment Of" otherwise modify amortization of the sums secured by
this Security Jusmuocot by reason of any demand made by the original Borrower or my
Successors in Interest of Borrower. Any forbeanmce by Lender in exercising any right or
remedy iucludíng. without limitation, Leoder's acceptance of payments tTom third persons,
entities Of" s..~ in Interest of Borrower Of" in amounts less than the amount then due, shall
DOt be a waiver of Of" preclude the exercise of my right Of" remedy.
13. JoiIIt aad Several LiaItiIity; Ce-dpen; SlICCeHØn aacI Anips Botmd.
Borrower covenants and agrees that Borrower" s obligations and liability shall be joint and
several However, any Borrower who co-signs this Security Instrument but does not execute the
Note (8 -aHÍgner"): (a> is co-signing Ibis Security Instrument only to mortgage, grant and
convey the co-sígner's interest in the Property under the terms of this Security Instrument; (b) is
not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that
Lender and any other Borrower can agree to extend, modify, forbear or make any
acœmmodations with regard to the terms of 1his Security Insùumeot or the Note without the
co-sígner's consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who
A'NI~ Borrower" s obligations under this Security InsUument in writing, and is approved by
Lender, shall obtain all of Borrower" s rights md benefits unda Ibis Security Insarument.
Borrower shall not be released from Borrower" s obligatioos and liability under 1his Security
Instrument unless Lender- agrees to such release in writing. The covenants and agreements of
this Security Instrument sha1l bind (ex~ as p.-ovided in Section 20) and beœfit the !a~S
and assigns of Lender.
WYOMING -IIíopoFIIIIiiy-f..o."'"""F....w...UNŒOIlM~ ...... ~ ~
GMACM-CMS.INLWY (IIWI)(P. 12~ 18) ~~
;))9229:1:)
0005B7
14. Lo_ Charpa. Lender may charge Borrower fees for services performed in
con~on with Borrower's default, for the purpose of protecting Lender's interest in the
Property and rights under this Security Instrument, including, but not limited to, attorneys' fees,
property inspection and valuation fees. In regard to any other fees, the absence of express
authority in this Security Instrument to charge 8 specific fee to Borrower shall not be construed
as 8 prohibition on the charging of such fee. Lender may not charge fees that are expressly
prohibited by this Security Instrument or by Applicable Law.
If the Loan is subject to a law which 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 the Loan exceed the permitted limits, then: (8) any such loan charge shall be reduced by the
amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected
from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may
choose to make this refund by reducing the principal owed under the Note or by making a direct
payment to Borrower. If a refund reduces principal the reduction will be treated as a partial
......,went wí1hoot any I-qJBjweo1 charge (wbe&ber oc DOt . prepayment charge is pmvided foc
UDder the No1e). Bœrower's acœptance of my such refund JUde by direct payment to
Borrower will 00DStÍtuIe a waiva- of my right of 8dÍœl Borrower might have .-ising out of such
overc:ha£ge.
15.. Neöca. All Notiœs gÏvœ by Bonuwer oc Lmda in coonection with this
Security IDsarumeot must be in writing. Any notice 10 Borrower in coooectioo with this Security
Instrument shall be deemed to have been givœ to Borrower when mailed by fust class mail or
when actually delivered to Borrower's notice address if sent by other means. Notice to any 'onè
Borrower shall constitute notice to all Borrowel'S unless Applicable Law expressly requires
otherwise. The notice address shall be the Property Address unless Borrower has designated a
substitute notice address by notice to Lender. Borrower shall promptly notify Lender of
Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change
of address, then Borrower sbaU 0Dly rqJOrt . change of address through that specified
procedure. Tbe:re IDIIf be œly ODe thg1'tltl'd notice address UDder this Security Instrnmeot 8t
lIlY ooe time.. Any notice to L~ shall be gÏvœ by delivaing it or- by mailing it by first
class JDIIÍ1 10 Lcøder's address sUllIed herein uoIc:ss L~ has desigøaaed motba> address by
notice 10 Borrower. Any notice in CXJÐDectiœ with this Security Insirumeot sbaII DOt be deemed
to have been given 10 Lmda: until IáuaUy ra:eíved by Lœder-. If my notice required by this
Security Insirumeot is also required UDder Applicable Law, the Aw1icable Law requirement: will
satisfy the COITesponding requirement under this Security Instrument.
16. GøverIÚII.I Law; Severallility; Rules ef CODdnIdioa. This Security Instrument
shall be governed by feda-allaw and the law of the jurisdiction in which the Property is located.
All rights and obligations contained in this Security Instrumœt are subject to any requirements
and 1imitations of Applicable Law. Applicable Law might explicitly or implicitly allow the
parties 10 agree by contract or it might be siIeÐt. but such silence shall DOt be construed as a
LOMf RO: 597962505 $D
WYOMING -..... t"atIIÍif - F..-1IIoeII'Hddie IIKIJNJI'œU JNSRVMENT _ JB
GMACM - CMS.IICZ. WY <_) (Pøge IJ of 18) wew.:
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prohibition against agreement by contract. In the event that any provision or clause of this
Secmity Instrument or the Note cooflicts with Applicable Law. such conflict shall not affect
o1ha' pl'Ovisioos of this Security Instrumeot or the Note wbich can be given effect without the
coofJiding pmvision.
As used in this Security Instrmnent: (8) words of the masculine gender shall mean and
include correspooding neuter words or words of the feminine gender, (b) words in the singular
sball mean IBId include the plural aod vice vel'Sa~ aod (c) the word ~may~ gives sole disaetion
without any obligation to take any IICIÏOIL
17. "1'I"OWer"1 Cepy. Borrower shall be given one copy of the Note and of this
Security Instrume:oL
III Tn8Ifer"'" Prepaty or a ~ Iataat ia JIonvwer. As used in this
Sedioo 18. ~Interest in the Property" means any Jegal or beneficial inteœst in the Property.
incloding. but not limited to. those be:oef'JCÏaI interests transferred in . bond for deed, contract
for deed. ínstal1mem: sales cootract or esaow agreement. the intent of which is the transfel' of
title by Borrower at a future date to a purcWø:r.
If all or my part of the Property or aoy Interest in the Property is sold or transferred
(or if Borrower is DOt a natural person and a beneficial interest in Borrower is sold or
transferred) without Lender's prioc written consent. Lender may require immediate payment in
full of all sums sœured by this Security Iusan:anenL However. this optioo sball not be exercised
by Lender if such exen:ise is pobibited by Applicable Law.
If Lender exercises this option. Lender sball give Borrower notice of acceleration. The
notice shall provide a period of not less than 30 days from the date the notice is givea in
acœrdaoce with Sedioo 15 within wbic:h Borrower must pay all sums secured by this Security
Insarummt. If Borrower f.ïls to pay these sums prior to the expintioo of this period. Lender
mllY invoke aoy remedies permitted by this Security Instrument without further notice or demøqd
on Borrower.
19. :a.n.,rel"l Ri&W ta 11--..* After Aeftlnatioa. If Borrower meets certain
cooditioos, Borrower sball have the right to have enforcement of this Security Insarnment
discontinued at any time prior to the earliest of: (a> five days before sale of the Property
pursuant to any power of sale contained in this Secmity Instrument; (b) such othel' period as
AppIic:ab1e Law might specify foc the te:rminaaion of Borrowel" s right to reinstate; oc (c) entry of
. pvt~t enforcing this Security Insarummt. Those c:ood:itions .-e that Borrower: (a) pays
Lender aD smns which then would be due under this Security Instnunent and the Note as if no
acœlenItíon had occurred; (b) cures any default of any oth.eI' covenants or agTt"1':Int'!nt!l.; (c) pays
all expcoses incurred in enfŒCÌllg this Seauity 1nsaJumcnt. includIDg. but not limited to.
...--ahle 1Ibomeys' fees. prupeI1y iospedioo IBId valuation fees. and other fees incurred for the
purpose of pmtecting Lœdcr's interest in the Property and rights under- this Secmity Instrument;
aDd (d) takes such action as Lmda- may reasooably require to assure that Lender's interest in the
Property and rights under this Security 1Dstrommt. aod Borrower's obligation to pay the sums
secured by this Seaaity In:ib.......... sball continue 1~ged. Lender may require that
Borrower psy such råu<¡t'-eme:ot smns and expenses in one or more of the following fonus. as
selected by Lœde:r: (a) cash; (b) IIlOOe}' onIer; (c) certííled check. bank check. treasurer's check
or casbiu's dJeck. pmvided any such cbeà is drawn upon an institution whose deposits aTe
iDsured by a federal agency. instrumeutalíty or artity; or (d) Eledrooic Funds Transfer.
WYOMING -__-.....--........."""'-' __ ~
C'.NAM4 - DA...u.wv «-1) (P., 14 .18) WIiIt1Ia:~
,¡}92;¿9S:J
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Upoo rein<å"~ by Borrowa. this Security IDstrumœt md obligations secured hereby sbal1
remaiu fully effective as if DO accdentioo had uu.ua.al. Howeva, this right to reinstate sbaII
not apply in the case of acœItntion UDdet- Sect:ioo 18.
20. Sale or Nate; CUa&e of :Loa Seniœr; Nøtice or Grievaaœ. The Note or a
partial ÍDtaest in the Note (togetba with this Security Jnsarument) can be sold ODe OT lDO£e
times without prior' uotiœ to Borrowa. A sale might result in . cbaoge in the entity (Imown as
the "Loen Scrvicer") that collects Periodic Payments due under the Note and this Security
Instrument and paforms otha' mortgage loan sefVÍcing obligations under the Note. this Security
:Insùuma1t, 8Dd Applicable Law. There also might be ODe Œ lDO£e changes of the Loan Se1-viœr
1IIJIdaaed to a sale of the Note. If tbae is a cbaoge of the Loan ScrviCICT, Borrowa will be
given written notiœ of the change which will state the name and address of the new Loan
Servicer, the addœss to which paymems should be made and any other information RESPA
requiTes in coooec:tÍOÐ with a DOtÍœ of u-sfa of SI2"VÍciDg. If the Note is sold and tbeœafter
the Loan is sa-vic:ed by . Loan Scrvica- otbeT than the purchasa- of the Note, the mortgage loan
servicing obligations to Bouower WIll remaiu with the Loan Sc:rvicer Of" be transferred to a
succe'j'SO(' Loan Sa:vica and are not assumed by the Note purchasa- unless otherwise provided
by the Note purcbasa-.
Neither Borrowa oor LeodcT may commeoce, join, Πbe joined to any judicial action
(as either an individual litigant or the member of a class) that arises from the other party's
actions pursuant to this Security Instrument Πthat alleges that the other party has breached any
pmvisåon of, Œ my duty owed by reason of, this Security Instrument, will such Borrowa or
Lender bas notified the otbeT pøty (with such uotiœ given in œmpIiaoce with the requirementS
of Section 15) of such alleged b£each and affonJed the other party hereto 8 reasonable period
afta' the giving of such notice to take conective action. If Applicable Law provides a time
period whid1 must elapse before certain actioo CE be taken, that time period will be deemed to
be ~ftbIe fŒ purposes of this ~ The notice of 8Cœlentiœ and oppommity to cure
given to Borrower pmswmt to Sect:ioo 22 and the notice of acceIentioo given to Borrower
pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take COITective
action p-oVÍSÏÐDs of this Sectioo 20.
21. ........ S_JtIlMft As used in this Sect:ioo 21: (a) "Hazardous Subsumœs·
are those sobstmces defined as toxic or- Iurzardoos substaoc:es, pollutants, or wastes by
Envirnn111ðlt~1 Law and the following substances: gasoline, kaoseoe, other ßammahle or toxic
petroleum pnducts. toxic pesticides aod herbicides. volatile solvents, makrials oootaining
8Sbesaos O£ fŒllUllddJyde. and radioactive makri~ (b) "Euviromncotal Law· means fedaal
Jaws md laws of the jurisdictíoo where the Property is located thld relate to health, safety or
envirnnmt'ßtal pr-~ (c) "EnvirnnmL'nÌaI Cleanup· includes any response action. remedial
adioo, or removal adioo, lIS defmed in EnVÎTnnrDi"ntal Law: and (d) an ·Environmental
Cooditiœ· IDeES a c:oodítion that can C8USC, c:on1ribute to. or otherwise 1rigger an
Envíroomeotal CIemup.
Borrowa sbaII DOt cause or permit the pr-eseoœ. use, disposal. stocage. or release of any
Hazardous Suhod~ Πtbreak:n to release any Hazardous Suhod~, 00 or in the Property.
Bœrowa- sbalI DOt do, oor allow anyone else to do, anything affed.iog the Property <a) that is in
violaIion of my Euviromoental Law, (b) which aeates au ED~tel Condition. or (c)
which, due to the pr-eseoœ. use, or release of a Hazardous Substance. aeates a condition that
UWI 110: 597962505 ~
WYOMING -........., - v..... UItoo'FØIIIdíe w... UNIFOIIIi INSl"IlDŒNT ......
GMACM - CMS.-.a.. WY (....) (Pøge 15 tj 18) ~
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advcndy affects the value of the Property. The pl"eceding two sentcoœs shall not apply to the
pn:sœœ. use, or storage OIl the Property of small quantities of H~ Subst.oœs that are
geoaally recognized to be eppropriate to nonnaI residential uses and to maintenance of the
Property (1nC1udíng, but not limited to, hazardous subs:taoces in COO!UIIJliT products).
Borrower shall pl"ompdy give Lœder written ootice of (a) any investigation, claim.
dr.m.M. lawsuit or other 8CtÍoo by any governmental or regulatory agency ()£ private party
involving the Property and any Hazardous Substance oc EnviromnentaI Law of which Borrower
bas actuaI knowledge. (b) any EnviromDaltal Condition, including but not limited to, any
spilling, 1eakiDg. discharge, release oc threat of release of any Hazardous Substance. and (c) any
coodition caused by the pl"eseoœ, use or relC2IC of a Hazardous Substaoœ which adversely
affects the value of the Property. If Borrower learns, or is notified by any governmental or
regulatory authority, or any private party. that any removal or other remediation of any
Haz.dous Substance affecting the Property is ----y, Borrower shall pl"omptIy take all
ne«ssuy remedial aáioos in acoordmce with Envirmnnr.ntal Law. NotbÍII8 herein shall create
any obligation on Lender foc an Environmental Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lœder further covenant and agree as
follows:
n. Accda...... 1t-f.aou 1-1'ð..... p..e -*ice to Bel'l'DWer prier to
~ folJøwia& Borrøw~. bradt of _y awellallt er apeaaeBt ÍR tJaiI Sectuity
Iutra.eat (bIØ II8t prier te acceIenûoa ..... Sedioa 11 aaIeu Applicable Law provides
odIawiIe). n.e..ciœ... ipeåfy: (a) tile def..at; (It) tile IIdioa req1IÌI'ed te ClIft tile
defllllla; (t) a ~ .... ... ... 3Ø days "- tile .. tile IIOtiœ is pyell to IIol'I'DWer, by
whida .. llef8lllt _at I»e amed; .... (II) dad failllre.. care the def..tt .. or Wore the
date ....- ia tile ...we ...y result ill aeceIentioa at tile .... IeCIIred by tIüa Seauity
... -- .... .. ef tile Pntperty. n.e..ciœ..... fud.er W.... IIornwer of tile ript
to . i ~-*4" after ~__ ... die ript to IÞriBc a CIMIrt adioa to aøert die
IIOII-eÚIteIIce of a llefutt or _y otIIer llefellle of ... .......er to aa:eIentioa oil aaIe. If the
defalllt is .. aared _ _ Wen tile date apedfied ia die ItOtiœ, LaIder at ita optioa ..y
nqwire ---~ ,.,.... _ ñII of aD ___ ...... IÞy dIia s-..uäy ..........t widIMIt
fIudIer do --...........,. _eke tile ,..er ., .. .... .y ø6er ....-... ....-.w .y
AtT.. rlLk Law'. I .rr.... lie ~ Ie aBed. !Sf '<: - ÏIIaIrretI ill ~ die
R-.rdÎft prøvWed ia &Ilia Sedioa n. iwf~ but IIOt Iiaúted to, ru-po,*" aUoraey.'
fea'" C8âs of tide ~
If Le.der iøeJœ. die ,..,er at ~ 1 -...Lor .... P MÜœ of __t to foreele.e
to JIol'I'ØWer ... to tile peneII ÏIII"I'__"'" of die Property, if difl'ereat, ill accon:laaœ
wida ~ Law. 1--..--...... pe ..ciœ ., tile .. te 8cNTower ia tile ......
pntVÏllal ia SediM lS.. I -1Jer ... ,.~ .. ..we ., ~ &ad tile Property ... be
I9Id ia tile ---- praeribed .y A.ppii-~ Law. I..ader.r ita da.;.- ...y purduue tile
Prøpa'ty at _y.... ne...... of u.e .. ... lie ,.,aïed ia tile f........ .nter. (a) te
aD ftJ I_Iff ef die .., ÏIIr--~ INd ... Jï.iaed to, 1'1 I I .............,... fees; (IJ) to all
.... ICC:III'ed by dú:t St.-dt, :r..t.--øt; .... (t) _y ex&:eU to the penoII or pen8IIØ
IepIIy _flf.... to it.
w.._-__-.....------............ __ ~
GMACM - CMS.-..z. WY~) (P~ 16 of lB) IIIi&Ia:
'.' (~~~. ;:U,l.;,.' ~
it) ..:J"" f>4 J ~ .....
00059~
n ...... Upoo paymmt of all SIDDS secured by this Security ~ Laada
sbaU release 1bis Security InstrumcuL Borrowa- sbaU pay my reconIation costs. Lender- IIUI.f
charge Boo-owa a fee for releasing this Security Instrumeot. but ooIy if the fee is paid to a third
party fOl" SCIVÍœs rœdered and the cba£ging of the fee is pemñUed UDda" Applicable Law.
14. w_.... Borrowa releases mil waives all rights unda mil by virtue of the
~e8ð cxauptioo l.ws of Wyoming.
BY SIGNING BFLOW. Bœrower 8CICCpts md agrees to the 1crms sod eoveoaots
cootaioed in 1bis Security IusUumart md in my Rider c:x.ecoted by Borrower mil recorded with
it.
(SeD1)
-o..r-c:r
G1Ã>fi~~b~
(SøøI)
-Borrower .
(Seal)
-Bonvwer
(Seal)
-Bonvwcr
LOAØ 110: 597962505
Witnesses: , _ ¿-LL2
p~~--
Cð...--p~,~.., 1!J?";.ø6 ~ 'Z/I.~f
WYOMING -........,. -....1faØJ'øIIk IIoc UNIßJUt DiSRIJMDIT ....... _
GMACM - CMS.1Nl. WY (l1li) (Pøge 17 "18)
8 Nciary PubIc_ otArizontl
J M8rioopa County
DuIIin~
I & ~~._
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000592
INDIVIDUAL ACKNOWLEDGMENT
STATE OFWY8MIN6, Arizona )
)SS
COUNTY OF Maricopa )
The foregoing iDsarumc:nt was acknowledged before me this
September 21, 2006
(at.ae )
by
~J\dal~ G. Draney and Gwen Draney
(per.- -œ-Icdgiua)
My CClDlllÍssåœ Expires: 21f~ 'I
fe ~:-I
)9~~
Nae.y Public
WYOMING -__-..............-.................... __ -~ ~
G!üCM - CMUNL WY (....) (p. 18 if 18) w.w.:
..
¡í\ü....··.J'oc.· ~.
.!J J .... ~ .:.J ,-' 0..,
000597'
.
SECOND HOME RIDER
TIllS SECOND HOME RIDER is made this 27thday of September ,
2006 , and is incorporated into and sbal1 be deemed to amend and supplement the
Mortgage, Deed of Trust. or Security Deed (the wSecurity InstrumeotW) of the same date given
by the uoda-signed (the wBorrower, W wbethec there are one or more persons undersigned) to
secure Borrower' s Note to
GMAC Mortgage Corporation
(the wLmdaW) of the same date and covering the Property descnòed in the Security Instnuncnt
(the wPropertyW), which is located at:
316 Jefferson Street
Afton, WY 83110
[Prupaty A.ddrcaJ
In addition to the COVt:lUlllts and agreements made in the Security Instrumeot, Borrower aod
Lender fm1hc:c covaumt and agree that Sections 6 and 8 of the Security Instrumeot are deleted
and are replaced by the following:
6. Ocnp...,-. Borrower sball occupy, and sball only use, the Property as Borrower's second
home. Borrower sball keep the Property available for Borrower's exclusive use aod enjoyment at
all times. BOd sball not subject the Property to my timesharing or other shared ownership
arrangement or to any rental pool or agreement that requires Borrower either to rent the
Property or give a management firm or any other person any control over the occupancy or use
of the Property.
.. Be................. AppIiatioa. Borrowec sball be in default if, during the Loan application
process., Borrowec or any othcr persons or entities acting at the din:åion of Borrower or with
Borrower's knowledge or consent gave materially faIse. misleading. or inaccurate information or
9tatP.l1VDtll to Lœdec (or failed to provide Lender with material information) in connection with
the Loan.. Material representations include, but are not limited to, representations concerning
Borrower's occupaocy of the Property as Borrower's second home.
LQAH HO: 597962505
.......,.AtEl&:OOID HOIIE~ -
.... M..FFNddII IlK UniJana SI.1
Page 1 Df 2 363319026 . ~
GMACM - CRII.H4I.SB:HOM (0411)
,.
,.
:~;I ;,.~ J!~~~IT~
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:,'~'~7~:-:~~:;~~
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000594:
BY SIGNING BELOW. Borrower accepts and agrees to the tenns and covcoants contained
in this Second Home Rider.
~C0~~
Randall Draney
(Seal)
-Borrowc:r
0~.,~~,-~ ~
Gwen Draney ð
(Seal)
-Borrowc:r
(Seal)
-Borrowc:r
(Seal)
-Borrowc:r
LOAN HO: 591962505
MULTlSTATE SB:OM) HOME M)ER - Single Family -
f8nnie 1IaeIft8ddie II.: UnIIœn........... Fann Jill 1/01
GMACM -CRlUI4'.SB:HOII (0411)
Page 2 of 2
.............
000595
'iJ92;¿9~:';\
Exhibit A
File 6010616020DAB Description
The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is
described as follows:
Beginning at a point which is 110 feet South of the Northeast Corner of Lot No.1 of Block No.
16 in the Town of ACton, Lincoln County, Wyoming, and running thence West 10 rods;
thence South 13-113 rods;
thence East 10 rods;
thence North 13-113 rods to the place of beginning.
Less and Except the land described in Warranty Deed recorded November 21,1956 in Book
31PR on page 165 of the records of the Lincoln County Clerk.
Also, LESS AND EXCEPT the land described in Warranty Deed recorded October 14, 1948 in
Book 27 of Deeds on page 50 of the records of the Lincoln County Clerk.
~:::t;;¡8j~