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Home My WebLink About924932 0(1- 5 'IV RECEIVED 11/30/2006 at 3:44 PM RECEIVING # 924932 BOOK: 641 PAGE: 725 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER. WY I' Return To: ERA Mortgage 9700 Dieeonnat street , Sw.tII tlS00, HOUSTON, TX 77036 Prepared By: Stacey Geller, ERA Nortqaga 3000 Laadenhall Road Mount Laurel, NJ 08054 [Spa.. Above nb Un. For Recordlnll Data] MORTGAGE MIN 100020000402004794 DEFINITIONS -.ø' Words used in multiple sections of this document are defined below and other words are defmed in Sections 3, II, 13, 18, 20 and 21. Certain rules regardmg the usage of words used 111 thIS document are also provided in Section 16 ,/ .) (A) "Seearity lustrumeDt" means this document, which is dated November 29, 20Q6 together with all Riders to this document. (B) "Borrower" is william R Fournier, A MARRXED MMf / l-\ Borrower is the mortgagor under tins Security Instrument. (C) ''MERS'' is Mortgage Electronic RegIStration Systems, Inc MERS is a separate corporation that is acting solely as a nommee for Lender and Lender's successors and assigns. MERS Is the mortgagee uDder this Security Instrumeut. MERS is orgamzc::d and existing under the laws ofDelawan:, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMINO-5lngle Faml/y-Flnnle MallFreddll Mac UNIFORM INSTRUMENT WITH MERS ~''A(wYI(0005I,Ot '14 Ar::: Po,. t of IS InlUol. ~__ VMP MORTGAGE FOANS· (IOO)S2t.721t Form 3051 tI01 000728 I:"'¡,(.l,....jo> "Ii. (:,J. ~,', ''',I>' ~rJ·fI..4'L..:I{...~·I\;.oIIJ(-..vJ (D) ''Lender'' is ERA Mort9age Lender is a CO:l:poration organized and existing under the laws of New Jersey Lender's address is 3000 Lea<ienhall Road Mount LaureJ., NJ 08054 (E) "Note" means the promissory note signed by Borrower and dated November 29, 2006 The Note states that Borrower owes Lender Eighty-Four Thousand Dollars and Zero Cent. Dollars (U.S. $ 84,000.00 ) plus interest Borrower has promised to pay tlus debt in regular Periodic Payments and to pay the debt In full not later than December 1st, 2036 (F) ''Property'' means the property that is described below under the heachng "Transfer of RIghts in the Property. " (G) "Loan" means the debt evidenced by the Note, plus Interest, any prepayment charges and late charges due under the Note, and aU SID11S due under this Security Instrument, plus Interest (8) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]. § Adjustable Rate Rider 0 Condominium Rider 0 Second Home Rider Balloon Rider [i] Planned Unit Development Rider [i] 1-4 Family Rider VA Rider 0 Biweekly Payment Rider 0 Other(s) [specify] (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative roles and orders (that have the effect of law) as well as all applicable final, non-appealable JudicIal opinions. (J) ''Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transactIon origmated by check, draft, or similar paper instrument, which is initiated through an electronic temuna1, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authonze a financtal institution to debit or CredIt an account Such term includes, but is not lunited to, point-of-sale transfers, automated teller machine transactions, transfers Initiated by telephone, wire transfers, and automated clearinghouse transfers, (L) "Escrow Items" means those items that are described in Section 3, (M) ''Miscellaneous Proc:eeds" means any compensation, settlement, award of damages, or proceeds paid by any thIrd party (other than Insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destructIOn of, the Property, (ii) condemnation or other taIcing of all or any part of the Property; (iii) conveyance Jß lieu of condemnation; or (iv) IWsrepresentatlons of, or olWssions as to, the value and/or condition of the Property (N) "Mortgage Insurance" means insurance protecting Lender agamst the nonpayment of, or default on, the Loan (0) "Periodic Payment" means the regularly scheduled amount due for (i) prmcipal and Interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument, (P) ''RESPA'' means the Real Estate Settlement Procedures Act (12 U.S.C, Section 2601 et seq.) and its Implementing regulation, Regulation X (24 C.F.R Part 3500), as they might be amended &om time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESP A" refers to all requirements and restl1ctions that are imposed in regard to a "federally related mortgage Loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA . '''"II~ ~8A(WY (000'1.01 Pial 2 of 15 Fonn 30&1 1101 000727 U· .ft.:}' ")' '\, (I, '.' ·'.t " ...... II"""i::~~ 'J'O\lIIlr:~¡tfi (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instnunent TRANSFER OF RIGHTS IN THE PROPERTY Th1s Security Instroment secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perfonnance of Borrower's covenants and agreements under thIS Security Instrurnentand the Note. For this purpose, Borrower docs hereby mortgage, grant and convey to MERS (solely as nommee for Lender and Lender's successors and assigns) and to the successors and assIgns of MERS, with power of sale, the foUowing described property located in the COUNTY of LINCOLN [Type of Recording Junsdlctlon] [Name of Recordlnl Jurisdiction] Lot 73 of' Star Valley Ranch Plat 5, Lincoln County, Wyoming as described on the official plat filed on June 30, 1971 as Instrument No. 431709 of the records of the Lincoln County Clerk. ParcellD Number: 229 HOLLY DRrvE THAYNE ("Property Address"), which currently has the address of [Street] ICity] , Wyoming 83127 [ZIp Code] TOGETHER WITH all the Improvements now or hereafter erected on the property, and all casements, appW'tenances, and fIXtures now or hereafter a part of the property. All replacements and additions shall also be covered by this S.ecurity Instrument All of the foregOIng is referred to in this Security Instrument as the "Property," Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instroment, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and asSIgns) has the right: to exercise any or all of those interests, including, but not lunited to, the right to foreclose and seU the Property; and to take any action required of Lender mcluding, but not limited to, releasmg and canceling this Security lnstroment BORROWER COVENANTS that Borrower is lawfully seIsed of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defertd generaUy the title to the Property against all claims and demands, subject to any encumbrances of record 1HIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with lunited variations by Jurisdiction to constitute a uniform securIty instrument covering real property .....A(WYI (0005),01 Pag03.'15 Inl1lolo ú!......./I..F' Form 3051 1/01 000728 rtctl",1f '\ t/),. \"/~' "-'~.J (I,., ¿. i" ",.,.jj "'..,¡¡llT.Jf'r II UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Cbal'lcs, and Late Chal1lcs. Borrower shall pay when due the princ1p8! ot: and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay ftmds for Escrow Items pursuant to Section 3 Payments due under the Note and this Security Instrument shall be made in U.S, cummcy. However, if any check or other instrument receIVed by Lender as payment under the Note or tins Security Instrument IS returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made In one or more of the following forms, as selected by Lender: (a) cash; (b) money order; ( c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an mstitutlon whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions In Section IS Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment msufficlent to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments In the future, but Lender is not obligated to apply such payments at the tune such payments are accepted. If each Penodlc Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied ftmds. Lender may hold such unapplied ftmds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such ftmds or return them to Borrower. If not applied earlier, such ftmds will be applìed to the outstanding principal balance under the Note imme<bately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower fTom making payments due under the Note and this Security Instrument or performing the covenants and agreements seaued by tins Security Instrument 2. Application of Payments or Proceeds. Except as otherwise described in tlus Section 2. all payments accepted and applied by Lender shall be applied in the following order of priority: (a) Interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Penodic Payment in the order In wlùch it became due, Any remaining amOlU1ts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the pnncipal balance of the Note If Lender receIves a payment oom Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delmquent payment and the late charge. If more than one Periodic Payment is outstandIng, Lender may apply any payment receIVed &om Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid In full To the extent that any excess exists after the payment is applied to tbe full payment of one or more Periodic Payments, such excess may be applied to any late charges due, Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments 3, Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid In full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premIums for any and all II1surance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10 These i are called "Escrow Items," At origination or at any time during the tenn of the Loan, Lender may re uire that Community AssocJation Dues, Fees, and Assessments, if any, be escrowed by Borrower, an such dues, fees and assessments shall be an Escrow Item, Borrower shall promptly furnish to Lender all ouces of amounts to be paid under thIS Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items, Lender W81ve Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any su waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and wh payable, the amounts ~-6A(WY) (0005),01 Plae. af 16 "'IUoA"~ Farm 30&1 1/01 000729 0' l(} "".Ii Ô (,fl' ¡ ",I' ..J,~ I{ '-ct' :1,¡..4,1~~·"'i' ( I due for any Escrow Items for which payment of Funds bas been waived by Lender and, if Lender reqwres, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require, Borrower's obligation to make such payments and to provide receIpts shaD for all purposes be deemed to be a covenU1t and agreement contalDed in this Security Instrument, as the phrase "covenant and agreement" is used m Section 9 If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercISe its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given m accordance with Section 15 and, upon such revocation, BOlTOwer shall pay to Lender all Funds, and in such amounts, that are then reqwred under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pennit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESP A Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law The Funds shall be held In an institution whose deposits are insured by a federal agency, instrumentality, or entity (includmg Lender, if Lender is an institution whose deposits arc so insured) or ID any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge BolTOwer for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, UJÙess Lender pays Borrower interest on the Funds and Apphcable Law pennits Lender to make such a charge Unless an agreement IS made m writing or Applicable Law reqwres mterest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree ID writing, however, that mterest shall be paid on the Funds Lender shall give to Borrower, without charge, an 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 RESPA. If there is a shortage of Funds held m escrow, as defined under RESP A, Lender shall notify BolTOwer as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficIency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and BOlTOwer shall pay to Lender the amount necessary to make up the deficIency ID accordance with RESPA, but In no more than 12 monthly payments. Upon payment in full of all sums secured by tIus Security Instrument, Lender shall promptly refund to BolTOwer any Funds held by Lender 4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and unpositions attributable to the Property which can attain pnority over tins Security Instrument, leasehold payments or ground rents on the Property, ¡fany, and Community Association Dues, Fees. and Assessments, if any, To the extent that these items are Escrow Items, BolTOwer shall pay them in the manner provided m Section 3. Borrower shall promptly discharge any lien which bas priority over this Security Instrument UJÙess Borrower: (a) agrees m writmg to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performmg such agreement; (b) contests the hen in good faith by, or defends against enforcement of the hen in, legal proceedings which m Lender's opimon operate to prevent the enforcement of the lien while those proceedings arc pending, but only until such proceedmgs are concluded; or (c) sec\U'CS from the holder of the lien an agreement sansfactory to Lender subordmating the lien to this SecUllty Instrument If Lender determmes that any part of the Property is subject to a lien which can attain pnority over thIS Security Instrument, Lender may gIve Borrower a noticc identifying the __6AIWY) (DOOS),D1 Inltlol. .MI! Fonn 3051 1101 Pogo 5 .1 15 000730 j'_G"'¡I,/I, ". '" '~I..J": ", ( l' ¡'" ,~. .. ),.... ~..>I" ~.. " lien. Witlun 10 days of the date on which that notice is given, Borrower shall satisfY the ben or take one or more of the actlons set forth above In this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connecUon with this Loan. S. Property Insunnce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage,· and any other hazards Including, but not bmited to, earthquakes and floods, for whicb Lender reqwres insurance. This insurance shall be maintained in the amoWIts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the precedIng sentences can change during the term of the Loan, The insurance carrier providmg the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may reqwre Borrower to pay, In connection with thIS Loan, either. (a) a one-time charge for flood zone detenmnation, certification and tracking services, or (b) a one-time charge for flood zone determination and certificatton services and subsequent charges each time remappings or sinùlar changes OCÇUJ' which reasonably might affect such determination or certification Borrower sball 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 &om 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 WIder no obligation to purchase any particular type or amoWIt 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 coverage 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 WIder thIS Section 5 shall become additional debt of Borrower secured by this Security Instrument These amoWlts shall bear interest at the Note rate ftom the date of disbursement and shall be payable, with such interest, upon notice ftom Lender to Borrower requesttng payment All Insurance policies required by Lender and renCW1Ùs of such pohcies shall be subject to Lender's nght to disapprove such pOliCIes, shall include a standard mortgage clause, and shaIl name Lender as mortgagee and/or as an addittona[ loss payee. Lender shall have the nght to hold the policies and renewal certificates. If Lender requIres, Borrower shall promptly gIVe to Lender all receipts of paid premiums and renewal nonces. If BoJrower obtains any form of insurance coverage, not OtherwISe required by Lender, for damage to, or destructIon oc. the Property, such policy shall include a standard mortgage clause and shalt 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 m writing, any insurance proceeds, whether or not the underlying insurance was rcqJ.llted by Lender, shall be applied to restoratton or repair of the Property, if the restoration or repair is economIcally feasible and Lender's security is not lessened. During such rep81r and restoration period, Lender shal[ have the right to hold such insurance proceeds Wltil Lender has had an opportumty to Inspect such Property to ensure the work has been completed to Lender's satlsfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a smgle payment or in a series of progress payments as the work Is completed. Unless an agreement is made m writmg or Applicable Law requires mterest to be paid on such msurance proceeds, Lender shall not be required to pay Borrower any mterest or earnings on such proceeds. Fees for public adjusters, or other thIrd parties, retained by Borrower shall not be paid out of the Il1surance 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 .""IWYI (00051,01 . , Pogee.'15 InHloI&¡¡,II!.P Form 3051 1/01 000731 ,4) I.t. ~'~~I .'\. ~. i\ " . t :.' ;,. ~~".....'~t,f¿ t- """~ '..~1~'· t,' " 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 msurance clasm and related matters, If 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 negotJate and settle the claim. The 3O-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or othel'Wlse, Borrower hereby assigns to Lender (a) Borrower's nghts to any msurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Ins1rument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiwns paid by Borrower) under all insurance pobcies covenng 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, whether or not then due 6. Oeeupaney, Borrower shall occupy, establish, and use 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 principai residence 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 7. Preservation, Maintenanee and Protection of the Property; Inspeetions. Borrower shall not destroy, damage or impair the Property, allow the PrQperty to deteriorate or commit waste on the Property Whether or not Borrower is residing m the Property, Borrower shall maìntaìn the Property m order to prevent the Property from deteriorating or decreasing m value due to its conditJon Unless it is determined pursuant to Section 5 that repair or restoration is not economically fellSlòle, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage_ If msurance 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 repairs and restoration 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 restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repasr or restoration. Lender or its agent may make reasonable enmes upon and inspections of the Property If it has reasonable cause, Lender may Inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an tnterior inspection specitying such reasonable cause. 8. Borrower's Loan Application. Borrower shail be In default if, during the Loan apphcatJon process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave mateTlally false, misleading, or inaccurate informatIon or statements to Lender (or, failed to provide Lender with materiai infonnation) m connection with the Loan. Material representations mclude, but are not lmuted to, representations concerning Borrower's occupancy of the Property as Borrower's prinCipal residence. 9, Proteetion of Lender's Interest In the Property and Rights Under this Seeurlty Instrument. If (a) Borrower fails to perfonn the covenants and agreements contained in thIs Security Instrument, (b) there is a legal proceeding that ought significantly affect Lender's interest m the Property and/or rIghts under this SecurIty Instrument (such as a proceeding in banlauptèy, probate, for condemnation or forfeiture, for enforcement. of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever IS reasonable or appropriate to protect Lender's interest in the Property and rights under this SeCW1ty Instrument, including protecting and/or assessing the value of the Property, and secunng and/or repairing the Property. Lender's actions can include, but are not limited to; (a) paying any swns secured by a lien wlùch has priority over this SecurIty Instrument; (b) appearing in court; and (c) paying reasonable ."A(WY) (0005),01 . p....., of 16 Inltl.I"~ Fonn 305t 1Iot 000732 Ot'j;·~l. (¡,':, ,(, "" 1" ~~If'..t,~r '/. attorneys' fecs to protect its interest in the Property and/or nghts under this Security Instrument, includmg 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 ftom pipcs, eliminate buildmg or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under tins Secuon 9, Lender does not have to do ,so and is not under any duty or obligauon to do so. It is agreed that Lender incurs no liability for not taklDg any or all actions authonzed under this Sect10n 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 ftom the date of disbursement and shall be payable, with such interest, upon Donee trom Lender to Borrower requesting payment If this Security Instrument is on a leasehold, Borrower shaJl 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 Iasorance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance m effect. If, for any reason, the Mortgage Insurance coverage reqwred by Lender ceascs to be available ftom the mortgage insurer that previously provided such insurance and Borrower was requîred to make separately designated payments toward the prenllums for Mortgage Insurance. Borrower sba1l 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, ftom an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall contmue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be Jß effect Lender will accept, use and retain these payments as a non-reftmdable loss reserve in heu of Mortgage Insurance Such loss reserve shall be non-reftmdable, notwithstanding the fact that the Loan IS ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an IDSurer selected by Lender again becomes available, IS obtamed, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of maiang the Loan and Borrower was requlJ'ed to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiwns required to maintain Mortgage Insurance in effect, or to provide a non-reftmdable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or W1til termination is reqwred by Applicable Law, Nothing in this Section 10 affects Borrower's obhgation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed Borrower is not a party to the Mortgage Insurance Mortgage insurers evaluate their total risk on all such insurance Jß force ftom time to time, and may enter into agreements with other parties that share or modifY their ris1c, or reduce losses. These agreements are on terms and conditIOns that are satisfactory to the mortgage Insurer and the other party (or parties) to these agreements. 'These agreements may require the mortgage insurer to make paymenta usmg any source of funds that the mortgage Insurer may have available (which may mclude ftmds obtained ftom Mortgage Insurance premiums), As a result of these agreements, Lender, any purchaser of the Note, another IDSurer, any reinsurer, any other entIty, or any affiliate of any of the foregomg, may receive (directly orindirect1y) amounts that derive ftom (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifYing the mortgage insurer's risk, or reducmg losses If such agreement provides that an affihate of Lender takes a share of the insurer's risk in exchange for a share of the premlwns paid to the insurer, the arrangement is often termed, ftcapuve reinsurance." Further: (a) Any sucb agreements will Dot affect the amouuts that Borrower bas agreed to pay for Mortgage Insurance, or aDY otber tenus of the LoaD, Such agreements will not Increase the amount Borrower will owe for Mortgage Insurance, and they will aot eodUe Borrower to aay refund. e-8A(WY) (D005),01 ill Plp..'1& - ""Iok~ Form 3061 1101 I: OOO~:JiJ '(J'3;:I~,~, '-k' . '''t , ~. 'f·~!t:l::'~;,;..~,; (b) Any such aKreements will not affed the rights Borrower has - If any - with resped to tbe Mortgage Insurance under the Homeownen Protection Act of 1998 or any other law. These rights may Include the right to receive certain disclosures, to request and obtain canceUation of the MortKaKe Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Foñelture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoratIOn or repair of the Property, if the restoration or repair IS economiClllly feasible and Lender's security is not lessened. During such repair and restoration penod, Lender shall have the right to hold such MIScellaneous Proceeds Wltil 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 Wldertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or In a series of progress payments as the work is completed. Unless an agreement IS made:m writing or Applicable Law requires mterest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such MISCellaneous Proceeds. If the restoration or repair is noteconoDUca11y feasible or Lender's security would be lessened, the Miscellaneous Proceeds shaD be applied to the sums secured by tJus Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds sha1l be applied in the order provided for m Section 2. In the event of a total talong, destruction, or loss m value of the Property, the MIScellaneous Proceeds shall be applied to the sums secured by this Security IlJStrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss In value of the Property in which the fair market value of the Property munediately before the partial taking, destruction, or loss In value IS equal to or greater than the amoWlt of the sums secured by tlus Security Instrument immediately before the partial takmg, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shaD be reduced by the amount of the Miscellaneous Proceeds multiphed by the following ftactlon: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destructIon, or loss m value is less than the amount of the sums secured immediately before the partial takmg, destruction, or loss in value, unless Borrower and Lender otherwise agree in writmg, the Miscellaneous Proceeds shall be applied to the sums secured by tlllS Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined Iß the next sentence) offers to ma1ce an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notIce IS given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Secunty Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has it right of action in regard to Miscellaneous Proceeds. Borrower shall be m default jf any action or proceeding, whether civil or cruninaJ, IS begun that, In Lender's judgment, could result In forfeiture of the Property or other material impBl11J1ent of Lender's mterest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reilJState as provided in See1ion 19, hy causlßg the action or proceeding to be dIsmissed with a ruling that, In Lender's judgment, precludes forfeiture of the Property or other material impaJrlnent of Lender's interest m the Property or nghts under this Security IlJStrument The proceeds of any award or claim for damages that are attributable to the Impainnent of Lender' 5 interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoratton or repair of the Property shall be applied Iß the order provided for in Section 2 ~-eA(WY) (0005),01 rag. I of 15 1n111MI/JI.GÉ Form 3051 1101 000'734 J'~ la 0<-,,>, 1 ,. '...' "\";'~,Jf¥'''''-''''2.,'';, ,'", 1i.:t..." ..¡~.!,! 'f'i; . , 11, 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 Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release 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 modii}- amortization of the sums secured by this Security Instrument by reason of any demand made by the origlllal Borrower or any Successors in Interest of Borrower. Any forbearance by Lender tn exercising any right or remedy including, without limitation, Lender's acceptance of payments from tllIrd persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liabillty; Co-signers; Successors and Assigns Boulld. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who ee-slgns this Security Instrument but does not execute the Note (a nee-signer") (a) is co-signing dus Security Instrument only to mortgage, grant and convey the co-signer's interest m the Property under the terms of tins 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. modii}-, forbear or make any accommodations with regard to the telmS of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor III Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under tins Security Instrument. Borrower shall not be released from Borrower's obligations and liability under tins Security Instrument unless Lender agrees to such release in writing, The covenants and agreements of this Security Instrument shall bind (except as provided m Secbon 20) and benefit the successors and assigns of Lender 14, Loan Charges, Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's Interest in the Property and nghts under !Ius SecurIty Instrument, including, but not Innited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authonty in this Security Instrument to charge, a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by thIS Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maxunum loan charges, and that law is finally IDterpreted so that the interest or other loan charg~ collected or to be collected in connection with the Loan exceed the permitted limits, then (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any swns already collected ftom Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make thiS refimd by reducing the prmcipal owed under the Note or by makmg a dIrect payment to Borrower, If a refund reduces pnncipal. the reductJon will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note), Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arismg out of such overcharge. 15. Notic:es. All notices given by Borrower or Lender in connectJ.on with this Security Instrument must be 10 writmg. Any notice to Borrower in connection with thiS Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise The notice address shall be the Property Addr~s unless Borrower has designated a substitute notice address by notice to Lender, Borrower shall promptly notii}- Lender of Borrower's change of address, If Lender specifi~ a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure_ There may be only one designated notice address under this, Security Instrument at anyone time Any notice to Lender sball be given by dehverlng it or by mailing it by first class mail to Lender's address stated herein unl~s Lender has designated another address by notice to Borrower. Any notice In connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by dus Security Instrument is also required under Applicable Law, the Appltcable Law requirement will satisi}- the corrcspondmg requirement under 'this Security Instrument ..eACWY) (1IOOð),Ot . Pogo 10 .r t5 InlU.I.t1!fE Form 3051 1/01 000'735 '(Jltl;A. ,,}..( /, · . ~ J .....J ,,,.. j~ ~r '!.;;~~(,~ , ' 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federa11aw and the law of the jurisdIction in which the Property is located. All rights and obligations contamed in this Security Instrwnent are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or unplicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provisIon or clause of this Security Instrwnent or the Note conflicts with Applicable Law, such conflict shall not affect other provisIons of this Security Instrument or the Note which can be given effect without the conflicting provision, As used In thiS Security Instrument, (a) words of the mas,culine gender shaIl mean and include corresponding neuter words or words of the fenunine 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 to ta1ce any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrwnent 18. Trall5Íer of the Property or a Beneficial loterat 10 Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, mcludIng, but not lunited to, those beneficial interests transferred in a bond for deed, contract for deed, mstallment sales contract or escrow agreement, the intent of which IS the transfer of title by Borrower at a future date to a purcþaser If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower IS sold or transferred) without Lender's prior written consent, Lender may require unmedl8te payment in full of all sums secured by tlus Security Instnunent. However, this option shall not be exercised by Lender if such exercise IS prohibited by Applicable Law, If Lender exercises this option, Lender shall give Borrower notice of acceleration The notice shan provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 withm wmch Borrower must pay all sums secured by this Security Ins1rument. If Borrower fails to pay these sums prior to the expIration of thiS period, Lender may mvoke any remedies permitted by this Security Instrwnent without further notice or demand on Borrower. 19. Borrower's Rleht to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of thIS Security Instrument dIScontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrwnent; (b) such other period as Applicable Law nught specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower (8) pays Lender all sums which then would be due \ß1der this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred In enforcing this Security Instrwnent, Including, but not limited to, reasonable attorneys' fees, property inspectIon and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights \ß1der this Security Instrument; and (d) ta1ces such action as Lender may reasonably require to assure that Lender's interest in, the Property and nghts \ß1der this Security Instrwnent, and Borrower's obligation to pay the sums secured by this Security Instnunent, shall continue \ß1changed. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following fonDS, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are Insured by a federal agency, mstrumentality or entity; or (d) Electromc Funds Transfer, Upon reinstatement by Borrower, this Security Instrwnent and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shaIl not apply in the case of acceleration \ß1der Secbon 18 20. Sale of Note; Chanee of Loan Servker; Nodce of Grievance. The Note or a partial mterest in the Note (together with thiS Security Instrument) can be sold one or more times without prior notice to Borrower A sale might result in a change m the entIty (known as the "Loan Servlcer") that collects Periodic Payments due \ß1der the Note and this Security Instrument and perfonns other mortgage loan servlcmg obligations \ß1der the Note, thIS SecurIty Instnunent, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servlcer, Borrower will be given written notice of the change which will state the name and address of the new Loan SelVlcer, the address to which payments should be made and any other information RESPA ~"A(WY) (0006),01 Pqo1l at 15 - 1nl1IoI"~-- Form 3061 1/01 000736 O'9;~" I'; ¢" . . {' J ~ "'Wf~Jrr~;'f(--: , . requires in connectlon with a notice of transfer of servicing. If the Note IS sold and thereafter the Loan is serviced by a Loan Servicer other than the pW'Chaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servlcer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence. join, or be joined to any judicIal action (as either an indIvidual litigant or the member of a class) that arises úom the other party' s actions pursuant to this Secwity Instrument or that alleges that the other party has breached any provisIon ot: or any duty owed by reason of, this SecurIty Instrument, until such Borrower or Lender has notified the other party (with such notice given m compliance with the requírements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the givmg of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and OpportunIty to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of tins Section 20 21. Huardous Substances. A1J used In thIS Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flammable or toxic pctroleum prod\lctB. toxic pesticides and herbIcides, volatile solvents, materials contaming asbestos or fonnaldehyde, and radioactIVe materials; (b) "Envlromnental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or enviromnental protection; (c) "Environmental Cleanup" Includes any response achon, remedial action, or removal action, as defined in Environmental Law; and (d) an ''Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup, Borrowcr shall not cause or' pennit the presence, use, disposal, storage, or release of any Hu.ardous Subs1ances, or threaten to release any Hu.ardous Substances, on or m the Property. Borrower shall not do, nor allow anyone else to do, anytIung affecting the Property (a) that IS In violation of any Environmental Law, (b) which creates an Environmental ConditJon, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hu.ardous Substances that are generally recognized to be appropriate to nonnaI residential uses and to mamtenance of the Property (including, but not limited to, hazardous substances In consumer products) Borrower shall promptly gIve Lender written notice of (a) any investJgation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hu.ardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, dIscharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by ·the presence, use or release of a Hazardous Substance 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 Hazardous Substance affecting the Property is necessary, Borrower shall promptly take ail necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. ~"AWY) (OOOS~OI p... II 0115 /I, 11"6- InItlall.-/ÁL-f::t..- Fonn 3051 1/01 000737 O'i~ "'.... ~,r) 1 " '''''''",,&; .~ 'fi,)~ ...~ fOX" ...,t' ~~_.~/( ~¡. " NON-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or aareement In this Security Instrument (but not prior to a«eleratlon under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days fI'Om the date the notice Is given to Borrower, by whlcb the default must be cured; and (d) that failure to cure the default on or before the date specified In the notice may result In acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further Inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the noa-e'llstenee of a default or any other defense of Borrower to acceleration and sale. If the defanlt Is not cured on or before the date specified In the notice, Lender at Its option may require Immediate payment in full of all sums secured by this Security Instrument without further demud and may Invoke the power of sale and any other remedies pennltted by Applicable Law. Lender shall be entitled to collect aU expenses Incurred in pursuing tbe remedies provided In this Section 22, Including, but not limited to, reasoaable attorneys' fees and costs of title evidence. If Lender Invokes the power of sale, Lender shall give notice of Intent to foreclose to Borrower and to the person in possession of the Property, If different, In acconlance with Applicable Law, Lender shall give notice of the sale to Borrower In the manner provided In Section 15, Lender shall publlsb the notice of sale, and tbe Property shaD be sold In the manner prescribed by Applicable Law, Lender or Its designee may purchase the Property at any sale. The proceeds of the sale shall be applied In the followlna onler: (a) to all expenses of the sale, Including, but not limited to, reasonable attorneys' lees; (b) to all sums secured by this Security Instrument; and (c) any excess to the penon or persons legally entitled to It. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release tIus Security Instrument Borrower shall pay any recordation costs. Lender may charge BOlTowcr a fee for releasmg this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of tile fee is pennitted under ApplIcable Law. 24. Waivers. Borrower releases and waives all nghts under and by virtue of the homestead exemption laws of Wyoming ~"A(WY) (O006~01 Page 13 ., U ,niuo,Œ Farm 3051 1/01 , !!09?38 O~/f /,'\'.....-', ",I. :,.1. ... 'i: '-ot'" ,.,~t\~ I...·. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in tlus Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses. ~A(WYI (O005),Ot (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Ø$~r~~ William R Fournier -Borrower (Seal) -BorroMf (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Page 14 .f t5 Form 3051 lIOi 000739 O,<'li"~ll-'\¡(ì <," - ....J~,"")y·W··, i'·' .... ~,d', f, S'fATE OF WYOMING, LINCOLN CC!UDty 55: The foregoing mstrument was aclo1owledged before me this November 29th, 2006 by William R Fournier My Comnllssion Expires' f{eIJ.~ 5e{ I1/kCtJ Notary ubUc CZ\-eA(WY) (0006),02 ..; l~tlal.(IJ~ Fonn 3051 1101 Pag.16.,15 000740 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of LCJ~ f'.YI tort-le.5 /, }ss. t){]¡·;:rj'..1i (j Ì' · ' " ~, ,J. '.-·i:,;;,,~J"[..~~(,~ On -tJ ð'l, ,-;1tl J [~ ð D l4 , before me, Date personally appeared ?J ri IÙi In R . o pertJo"ðlly kl,6'.'JR to...me rs!l: proved to me on the basis of satisfactory evidence j - ~ ~ ~ :~~~~:7:1- J i @.NotaryPubllc.CaflfomIaj Loa Ange\eI CCMfty - t _ _ _ ~:o:m.:..Ex~~2.:.2~~ to be the person~ whose nam~ subscribed to the within instrument and acknowledged to me th~Y executed the same in @18r:.'thøir authorized capacity(~; and that by ~eir signature(~on the instrument the person~ or the entity upon Qehalf of which the pers~' acted, executed the instrument. Place Notary Seal Above OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: o Individual o Corporate Officer - Title(s): o Partner - 0 Limited 0 General o Attorney in Fact o Trustee o Guardian or Conservator o Other: RIGHT THUMBPRINT OF SIGNER Top of thumb here Signer Is Representing: iC) 1997 National Notary Association' 9350 De SotoAve., P.Q, Box 2402' Chatsworth, CA 91313-2402 Prod, No, 5907 Reorder. Call Toll-Free 1-800-876-6827 000?41 "l~~." 'L~ ,~_!JI.) 1I'!i ",: ',' .. ~ ~~. '\.\J~ '!.;,/ r'"{ Loan #: 0040200479 1-4 FAMILY RIDER (Assignment of Rents) TIllS 1-4 FAMILY RIDER is made this 29th day of November , 2006 , and IS mcorporated 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 to ERA Mortgage (the "Lender") of the same date and coverIng the Property described in the Security Instrument and located at' 229 HOLLY DRIVE THAYNE, WY 83127 [Property Address] 1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows A, ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property described in the Security Instrument, the following' items now or hereafter attached to the Property to the extent they are fixtures are added to the Property description, and shall also constitute the Property covered by the Security Instrument building materials, appliances and goods of every' nature whatsoever now or hereafter located In, on, or used, or intended to be used in connection with the Property, includIng, but not limited to, those for the purposes of supplying or distributing heating, cooÙng, electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refiigerators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, panelang and attached floor coverings, all of which, includmg replacements and additions thereto, shaIJ be deemed to be and remain a part of the Property covered by the Security Instrument All of the foregoing together with the Property described m the Security Instrument (or the leasehold estate if the Security Instrument IS on a leasehold) are referred to In this 1-4 Family Rider and the Security Instrument as the "Property," IIULTISTATE 1-" FAMILY RIDER - Fannlellaa/Freddle Mac UNIFORIIINSTRUIIENT Page 1 of 4 ~-S7R (0008) VMP MORTGAGE FORMS - (800)521-7291 Inltlal8 tv ¡¿ F Form 31701/01 000742 n)I/'I..}'::-"!'j ~.f .~ i::: 'U. J"..ø w it "-'~ ·~'#'_I~( # PI B. USE OF PROPERTY; COMPLIANCE WITH LAW, Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classification, unless Lender has agreed in writing to the change, Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental body apphcable to the Property, C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shaD not allow any lien !Dfenor to the Security Instrument to be perfected against the Property without Lender's prior written pennisslOn. D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss In addition to the other hazards for which insurance is required by SoctIon 5. E, ''BORROWER'S RIGHT TO REINsrATE" DELETED. Section 19 is deleted F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwISe agree in writing. Section 6 concerning Borrower's occupancy of the Property is deleted. G, ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the nght to modify, extend or terminate the existing leases and to execute new leases, Iß Lender's sole discretion. As used ID this paragraph G, the word "lease" shall mean "sublease" ¡fthe Security Instrument IS on a leasehold IL ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and unconditionally assigns and transfers to Lender all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the Property are payable. Borrower authonzes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until: (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument, and (ii) Lender has gIVen notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent, Tills assignment of Rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of default to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender sha1l be entitled to co1lect and receIVe all of the Rents of the Property; (iii) G·57R (0008) iþ Page 2 014 InMløJ¿V~P Form 3170 1/01 .' 000743 ,,·i't-"·...!~ "ì' II,.; ..'o 'OJ·, \;.;1;Jf.""'''-.t~~\1.~...r~_;{ I~ Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing the Property and collecting the Rents, includmg, but not limited to, attorney's fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, ínsurance prenuums, taxes, assessments and other charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shaJl be liable to account for only those Rents actually received, and (vi) Lender shall be entitled to have a receiver appointed to take posseSSIon of and manage the Property and collect the Rents and profits derived ûom the Property without any showing as to the madequacy of the Property as security If the Rents of the Property are not sufficient 10 cover the costs of taking control of and managing the Property and of collecting the Rents any funds expended by Lender for such purposes shall become mdebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9 Borrower represents and warrants that Borrower has not executed any prior assIgnment of the Rents and has not perfonned, and will not perform, any act that would prevent Lender from exercismg its nghts under this paragraph Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or mamtain the Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of Rents of the Property shall temunate when all the sums secured by the Security Instrument are paid in full I. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedtes permitted by the Security Instnunent. _-67R (0008) ~- Initials " F 3170 1101 Page 3 of ..¡ r' BY SIGNING BELOW, Borrower accepts and agrees to the tenns and provisIOns contained In this 1-4 Family Rider, ~~/~t Wi~li_ R l'ow:tU.e:r ·BOITOWCf (Seal) ·Borrower (Seal) ·BOITOwcr (Seal) -Borrower (Seal) ·BolTOwer (Seal) ·Borrower (Seal) -Borrower (Seal) -Borrower _UR (0008) Page 4 of 4 Form 3170 1101 000744 ,1\1I()"'JI 1\ 4. ù" I, ~'), '\,; .,J"(ry;# w'£' ~.f"t.~~t· ð. 000745 .n<.,...,.wl't..., ",,,1',, ?Wr'iw4l'·"..."')i.,,)l......c.!(: ,; . PLANNED UNIT DEVELOPMENT RIDER THIS PlJ'\NNED UNIT DEVELOPMBIIT RIDER Is made this 29th day of November, 2006 , and Is Incorporated Into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the ·Securlty Instrument") of the same date, given by the undersIgned (the "Borrower") to secure Borrower's Note to ERA Mortgage (the "Lender") of the same date and covering the Property described In the Security Instrument and located at 229 HOLLY DRXVE THAnŒ, wr 83127 [Property Address] The Property includes, but Is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in the COVENANTS, CONDITJ:ONS AND RESTRICTIONS (the "Declaration") The Property IS a part of a planned unit development known as STAR VALLEY [Name of Planned Unit Development] (the "PUD") 'The Property also .ncludes Borrower's Interest In the homeowners association or equivalent entity owning or manag.ng the common areas and facilities of the PUD (the . Owners Association") and the uses, benefits and proceeds of Borrower's Interest PUD COVENANTS, In addition to the covenants and agreements made In the Security Instrument, Borrower and Lender further covenant and agree as follows A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent Documents The" Constituent Documents" are the (I) Declaration, (il) articles of Incorporation, trust Instrument or any equivalent document which creates the Owners AssocIation, and (iii) any by-laws or other rules or regulations of the OWners AssocIation Borrower shall promptly pay. when due, all dues and assessments Imposed pursuant to the Constituent Documents MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fonn 31501/01 A .,L/ ~ . Page 1 of 3 Initials C(jQ.1 "".7R (0405) VMP Mortgage Solutions. Inc, (800)521-7291 I' B. Property Insurance. So long as the Owners Association maintains, with a generally accepted Insurance carner, a "master" or "blanket" policy Insunng the Property which Is satisfactory to Lender and Whl<:h provides insurance coverage In the amounts (Including deductible levels), for the periods, and against loss by fire, hazards Included within the term "extended coverage,· and any other hazards, including. but not limited to, earthquakes and floods, for which Lender requires Insurance, then~ (I) lender waIVes the provIsion In Section 3 for the Periodic Payment to lender of the yearly premium installments for property Insurance on the Property, and (II) Borrower's obligation under Section 5 to maintain property Insurance coverage on the Property Is deemed satisfied to the extent that the required coverage IS provided by the Owners Association policy What Lender requires as a condition of this waIVer can change during the term of the loan Borrower shall give lender prompt notice of any lapse In required property Insurance coverage provided by the master or blanket policy In the event of a distribution of property Insurance proceeds In lieu of restoration or repair following a loss to the Property, or to common areas and facJllttes of the PUD. any proceeds payable to Borrower are hereby assigned and shall be paid to Lender, Lender shall apply the proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to Insure that the Owners Association maintains a public liability Insurance policy acceptable In form, amount, and extent of coverage to lender D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for Bny conveyance In lieu of condemnation, are hereby assigned and shall be paid to Lender Such proceeds shall be applied by Lender to the sums secured by the Secuñty Instrument as provided In Section 11 E Lender's PrIor Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to (I) the abandonment or termination of the PUD, except for abandonment or termination required by law In the case of substantial destruction by fire or other casualty or In the case of a taking by condemnation or emment domain; (iI) Bny amendment to any provIsion of the "Constituent Documents· If the provision Is for the express benefit of Lender, (Iii) termination of professional management and assumption of self-management of the Owners Association, or (IV) any action Which would have the effect of rendering the public liability Insurance coverage maintained by the Owners Association unacceptable to Lender F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them, Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument Unless Borrower and Lender agree to other terms of payment, these amounts shall bear Interest from the date of disbursement at the Note rate and shall be payable, with Interest, upon notIce from Lender to Borrower requesting payment Customer Initials æ G!t-7R (0405) Page 2 of 3 Form 31601/01 000'746 'O:9;::49L~;; , ~ BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained In this PUD Rider fø~/~/f/(Jrlfk Willi_ It li'ournier -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower ct-7R (0405) Page 3 of 3 (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Fonn3150 1/01 OOO';'4:~ ,I"f''tl~n' Ii- . , \:.;-.J¡(;","î¡P·;·;}, .. 1'.~~/'!~';#