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HomeMy WebLinkAbout925286 ( --":29 U1-/ -::/ÞiRD8'f6 After rding please retum to: I Bank, F.S.B. c/o :t Management (Name of atural Person] 9Q1 E 104th street Building B SUi 400/500 (Street A RECEIVED 12/13/2006 at 10:24 AM RECEIVING # 925286 BOOK: 643 PAGE: 229 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY City, J«) 64131 (City, Stat Zip Code] (Spl Çf Abon This Une For Reoordlng Data] MORTGAGE NON 100055401249594593 DEFINITIONS (í) I Words used in multiple sections of this document are defined below and other words are defined in Sections 3, II, 13, 18,20 and21. Certain roles regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instnunent" means this document, which is dated together with all Riders to this document. December 4, 2006 (8) "Borrower" is stanley F am Josephine E Penrod husband and wife . Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage ElectroJÚe Regis 'on Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's sue ors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing the laws of Delaware, and bas an address and telephone number of P.O. Box 2026, Flint. MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is IIxtyMac Bank, F. .B., a federally chartered savings bank Lender is a Federal Savings Bank organized and existing under the laws of united states of Anerica . Lender'saddress is 155 'tbrth IaJœ Avenue, Pasadena, C'A 91101 Loan No: 124959458 W)'OIrIIq Mortpae.8ing1e Family.F..... MarIFreIYIe Mile UNIFORM INSTRUMENT -THE CoMPuANa SoURCE, 1Nc.- Pate 1 ot14 ""'"'~ ......DII MERS ModIIIed F_3051 01..1 lutlWY ... C2OOO. The CGmpIíanoe ScIIaœ, Iøo. 09Z5Z8f) (E) "Note" means the promissory note signed by Borrower and dated Deceatlber 4, 2006 The Note states that Borrower owes Lender ninety five thcusarK1 and J!D/10Oths Dollars (U.S. $ 95,000.00 ) plus interest. Borrower bas promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than DeoEI1iJer 1, 2036 . '000230 (F) "Property" means the property that is described below under the heading "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 all sums due under this Security Instrument, plus interest. (B) "Riden" means all Riders to this Security Insttwnent that are executed by Borrower. The following Riders are to be executed by Borrower (check box a8 applicable): m Adjustable Rate Rider o BalloonRider o 1-4 Family Rider o Other(s) {specify} o Condominium Rider o Planned Unit Deve10pmentRider o Revocable Trost Rider o Second Home Rider o Biweekly Payment Rider (I) "Applicable Law" means aU controlling applicable federal, state and local statutes, reguJations, ordinanœs and administrative rules and orders (that have the effect of law) as well as aU applicable final, non-eppeaiable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means aU 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 tJansfer of funds, other than a transaction originated by check, draft, or similar paper insbument. 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 credit an account Such tenn includes, but is not timited to, point-of-sale transfers, automated teller machine tmnsactions, transfers initiated by telephone, wire transfers. and automated clearingbouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" 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; (ü) condemnation or other taking of aU or any part of the Property; (üi) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of. or default on. the Loan. (0) "Periodic: Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts Wlder Section 3 of this Security Instrument Loan NO: 124959458 Wyomlnl Mol'ftIIIe-Sinslo Family-F.-Ie MaIFrøWIe M_ UNIJIORM INSTRUMENT -Tm:CoMPI.IANa: SOURa:.INc.- Pace 2 0114 '"""'~-- .....I.D MERSM..... ,_ 3Ð51 01...1 U381WY _ 02000. 1be CompIionoe SouIce,Ino. 09252~1G 000231 (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementirJg reguJation. ReguJation X (24 C.F.R. Part 3500), as they might be amended ftom 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 restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does Dot qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest or 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 Instrument. TRANSFER 011' 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. For 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 ofMERS, with power of sale, the following descn'bed property located in the County of Lincoln [Type of Recording Jurisdiction} [Name of Recørrßng Jurisdiction} See Exhibit A attached hereto am made a part hereof which currently has the address of G!:oYer , Wyoming 249 North street {Street] 83122 ("Property Address"): {ZIp Code} [City} TOGEnmR. WI1H all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property. II Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in t1ùs Security Instnunent, but, if necessmy 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 limited to, the right to foreclose and sell the Property; and to take any action required of Lender including. but not limited to, releasing and canceling this Security Instnunent. 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 defend genera1ly the title to the Property against all claims and demands, subject to any encumbrances of record. Loan No: 124959458 W)'IIIRIDt Morf&ale-8in8lo Family.FIIIIIIIe MllelFreddIe Mae UNIFORM INSTRUMENT -'I'm: COMPLIANCE SOuRCE, 1Nc.- Pille 30114 www-.- -,.._- In..._ MERS ModIfted Form 305t OMIt 14M1WY I11III 02000, 1bo~-...."",. 0925286 000232 1HIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security insttument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: t. Payment of Prineipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of. and interest 00. the debt evidenced by the Note and any prepayment charges and late chaIges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instnuuent shall be made in U.S. currency. However, ü any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due UDder the Note and this Security Instnnnent be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified cbeck, bank: check, treasw'er's check or caslúer's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when reœived at the location designated in the Note or at such other location as may be designated by Lender in aa:ordanœ with the notice provisions in Section IS. Lender may return any payment or partial payment ü the payment or partial payments are insufficient to bring the Loan current Lender may accept any payment or partial payment insufficient 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 ûme 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 hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of ûme. Lender sball either apply such funds or return them to Borrower. If not applied earlier. such funds will be applied to the outstanding principal balance under the Note immNJiately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due UJ1der the Note and tlús Security Instnm1ent or performing the covenants and agreements secured by this Security Instnunent 2. Application of Payments or ProceedL Except as otherwise described in this Section 2. all payments' accepted and applied by Lender sball be applied in the following order of priority: (a) interest due U11der the Note; (b) principal due under the Note; (c) amOWlts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied fust to late charges. second to any other amounts due under this Security Instrument. and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due. the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments it: and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full 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. insunmœ 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 Item.. 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 Instnunent as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property. ü any; (c) premiums for any and all insurance 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 Insur.mœ premiums in aœordanœ with the provisions of Section 10. These items are called "Escrow Items." At originaûon or at any ûme during the term of the Loan. Lender may require that Community Association Dues. Fees, and Assessments, ü any. be escrowed by Borrower. Loan No: 124959458 W)'ÐIIåI MortppSiDp Family-P'..... ~ MIle UNIJIORM INSTRUMENT -THE COMI'LJANcJ: SOURCE, INc.- Pare 40f14 -., "'" --..... __..11 MERSM.... ._3051 oun 1438IWY IMIO C2OIIO. 1bo~ _.Ino. 092528G 000233 and such dues, fees and assessments &ball be an Escrow Item. Borrower &ball promptly furnish 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 aU Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any ÛlDe. Any such waiver may only be in writing. In the event of such waiver, Borrower &ball pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requin:s. &ball 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 shall for aU purposes be deemed to be a covenant and agreement contained in this Security Instmment, as the phrase "covenant and agreement" is used in 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 aU Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation. Borrower shall pay to Lender 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 pemút Lender to apply the Funds at the time specified under RESP A, and (b) not to exceed the maximwn amount a lender can require under RESP A. Lender sball estimate the amount of Funds due on the basis of current data and reasonable e!rtimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds &ball be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender sball apply the Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law pemúts Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender &ball not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a swplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender sball noûfy Borrower as required by RESPA, 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 Borrower shall pay to Lender the amount necessaxy to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of aU sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, 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 Conununity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shaD pay them in the manner provided in Section 3. Borrower sball promptly discharge any lien which has priority over this Security Instmment unless Borrower: (a) agrees in wriûog to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is perfonning such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Iostn:unent. If Lender detemúnes that any part of the Property is subject to a lien which can attain priority over this Security Instnønent, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which Loan No: 124959458 WyomInl MortppSin¡le Family-FIUIIIIe MaeIFntWIe Mae IJNIlIORM INSTRUMENT -ToE CoMPUANCE SOURCE, 1Nc.- p.,e 5ort4 ............--........... ..111111111 MERS M......_ 305. O.AI. 14311WY 11188 02000, The CompIioaoo Souœc. 1111:. 092528f:ì that notice is given. Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require BOlTOwer to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now exisûng or hereafter erected on the Property insured against loss by fire, ba1Mds included within the term "extended coverage:' and any other ha2ards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the 8D1OW1ts (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 providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Bommer's choioe. which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan. either: (a) a one-time charge for flood zone determination. certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above. Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obIigatioo to purcbase any particular type or amount of coverage. Therefore. such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property. or tbe contents of the Property, against any risk. hazard or liabUity 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 insumnœ that Borrower could have obtained. Any amounts disbursed by Lender WIder this Section 5 shaD 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 requestiug payment. All insurance policies requiIed by Lender and renewals of such policies shall be subject to Lcuder's right to disapprove such poUcies. shall include a sCandard mortgage clause, and shall name Lender as mortgagee and/or as an additåona11oss payee. Lender &baD have the right to hold the policies and renewal certificates. If Lender requires, Borrower sball promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fonn of insurance coverage, not otherwise required by Lender. for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss ü not made promptly by Borrower. 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 economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the rig1\t to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work: has been çompleted to Lender's ,œtistàçtion. provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work: is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public acljusters. or other third parties, retained by Borrower shall not be paid out of the insmance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due. with the exoess. if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided Cor in Section 2. If Borrower abandons the Property. Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has 000234 Loan NO: 124959458 WyomInl Molipp-Sing\o Family-F..... MaeIFretWJe Mae UNIJIORM INsrRUMENT -THE CoMPLIANCE SOURCE, 1Nc.- Pap' or14 www~..... ...1111111 MERS ModIIIeII 'ora 3051 01...1 1430tWY ....... C2OOO.1bo CœIpIíonce SouIœ, Inc. 092528h 00023'5 offered to settle a claim. then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any iJlS1µ3l1ce proceeds in an amount not to exceed the amounts wpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insumœe policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instmment, whether or not then due. 6. Occupancy. 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 principal 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 BOlTower's control. 7. Preservation, Maintenante and Protection of the Property; InSpedionL Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, BOlTower shall maintain the Property in order to prevent the Property from deteriomting or decreasing in value due to its condition. Unless it is detennined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to. or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restomtion 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 repair or restoration. Lender or its agent may make reasonable entties 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 interior inspection specifying such reasonable cause. 8. Borrower's Loan App6catioD. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge Of consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material infonnation) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as BOlTower's principal residence. 9. Protection of Lender's Interest In the Property and Rights Under this Security Instrument. If (a) Borrower fiû1s to perform the covenants and agreements contained in this Security Instrument. (b) there is a legal proceeding that might significant1y affect Lender's interest in the Property and/or rights under tbisSecurity Insttument (such as a proceeding in bankruptcy, probate, for condenmatioo or forfeiture, for enforcement of a lien wmch may attain priority over this Security Instnunent or to enforce laws or regu1ations), 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 Security Instnønent, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien wlùch has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its i.nttnst in the Property and/or rights under this Security Instrument. including its secured position in a bankruptcy proceeding. Securing the Property inc1udes, but is DOt 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 Wlder any duty or obligation to do so. It is agreed that Lender incurs no liability for DOt taking any or all actions authorized under this Section 9. Loan No: 124959458 wyomIn. Monpp.singlo Family-'.... MIIeJFreddIe MH UNIFORM INSTRUMENT -THE COMPLWra SoUltCE, INc.- Paae 7 of 14 .....,~~...oom ....BIIII MERS Modmed '_3115. 0.... 14301WY .1IlOO C2OOO. Tbo ~ SouR:e. Inc. 0325286 Any amounts disbursed by Lender under this Section 9 sbaIl become additional debt of Borrower secured by this Security Instrument. These amounts sbaU bear interest at the Note rate from the date of dimursement and sbaU be payable, with such interest, upon notice from Lender to Borrower requesting payment If this Security Instnunent 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 sball not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insumnce in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be avaiJable from the mortg¡¡ge 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 substanôally 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 mortg¡¡ge insurer seJected by Lender. If sulwbntiAl1y equivalent Mortgage Insurance coverage is not available. Borrower sbaIl continue to pay to Lender the amouDt of the sepaJDtely designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full,. and Lender sball not be required to pay Borrower any inter$ or earnings on such loss reserve. Lender am no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires 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 for Mortgage Insuranœ,. Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance· with any written agreement between Borrower and Lender providing for such tenniDation or until tennination is required by Applic:able Law. Nothing in this Section 10 affects Borrower's obligation 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 in force from time to time, and may enter into agreements with other parties that share or modify their risk. or reduce losses. These agreements are on terms and conditions 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 payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements. Lender. any purchaser of the Note. another insurer, any reinsurer. any 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 payntents for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a sbare of the insurer's risk in exchange for a sbare of the premiums paid to the insurer, the anangement is often termed "captive reinsurance." Further: (a) Any sueb agreemeata wiD not affect the amounts tbat Borrower bas agreed to pay for Mortgage II1sur8JKe, or any other terms of the Loan. Sucb agnemeata wiD not increase the amount Borrower wiD owe for Mortgage IJuuraaee, and they will not entitle Borrower to any refund. (b) Any sucb agreements will not affect tbe rights Borrower bas - if any - witb respect to tbe Mortgage Insurance under the Homeownen Protection Act of 1998 or any otber law. These rights may include the right to receive certain diJcIosureø, to request and obtain cancel'ation of tile Mortgqe llllurance, to bave the Mortgage ......rance termi_ated automatically, ..dlor to receive . refund of lit)' Mortgage ......nnce premiums that were unearned at tbe time of IOcb cancellatioa or termination. 000236 Lean NO: 124959458 WJomIn. Mortpp.Singlo Family.'.... MIIeifIlreIWIo Mae IJNDIORM INSTRUMENT -THE COMPLIANCE SoUltCl'.,INc.- Pqe 8 ort4 ....--cr. r -.......... _..111 MERS MoIMaI ,_ 3Il5. 0..... 14.101WY IMID C2ØOO, 1ho CaaIpIIoaœ -. Ino. 11. Assignment of MisceUaneous Proceeds; Fodeiture. assigned to and sbaI1 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 economically feasible and Lender's security is not lessened. During such repair and restoration period. Lender sbaI1 have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction. provided that such inspection shall be undertaken promptly. Lender may 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 in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender sbaI1 not be required to pay Borrower any interest or eanùngs on such MisceUancous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by t1ús Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, desttuction. or loss in value of the Property, the Miscel1lP1oous Proceeds shall be applied to the sums secured by this Security Instnunent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, desttuction. or loss in value of the Property in which the fair market value of the Property immf'.CIiately before the partial taking, destmction. or loss in value is equal to or greater than the amount of the sums secured by this Security Instnunent immediately before the partial taking, destruction. or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instnunent shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking. destroction. 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 in value is less than the amount of the sums secured inunediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing. the Miscellaneous Proceeds shall be applied to the sums secured by this 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 Owosing Party (as defined in the next sentence) offers to make 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 conect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by tbis Security Instrument. whether or not then due. "Opposing Party" means the third party that owes Borrower MisœJlaneousProceeds or the party against whom BOD'ower has a right of action in regard to Misceltaneous Proceeds. Borrower shalt be in default if any action or proceeding, whether civil or criminal, is begun that. in Lender'sjudgment. could result in forfeiture of the Property or other material impainneot of Lender's interest in the Property or rights under t1ús Security Instrument. Borrower can cure such a default and. if acœleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment. precludes forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under tbis Security Instrument. The proceeds of any award or cJaim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not . Waiver. Extension of the time for payment or modification of amortization of the SWDS secured by tbis 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 000237 All Miscellaneous Proceeds are hereby 0925286 Loan NO: 124959458 Wyondn¡ ModppSin¡lo FIlllÙIy-FIIIJIIIe M8eIFnd6 Mae UNIFORM INSTRUMENT -'I'm: COMPLIANCE SouRCE, INc.-- P.,e 9 ot14 ....-+--- ...1111111 MERS MOIIIIIed F_ 31151 OIAtJ. 1430tWY tlllØ 02IJ00. The CœIpIioøœ Soun:e, Ino. 0925286 000238 Borrower or to refuse to extend time for payment or otherwise· modify amortizaûon of the sums secured by this Security Instmment by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without linútation, Lender's acceptance of payments from third 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 md Several liability; Co-signen; 8uc:ee&1On and AlIi.. Bond. Borrower oovenants 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 (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrwnent; (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 accommodations with regard to the tenns of tills Security Instrument or the Note without the co-signer's consent Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing. and is approved by Lender, sbaIl obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instnunent unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrwnent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. ~an Charges. Lender may charge Borrower fees for services perfonned in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not linúted to, attorneys' fees, property inspection and valuation fees. In regard to any other fees. the absence of express authority in this Security Instrumtmt to chaIge a specific fee to Borrower shall not be construed as a prolúbition on the charging of such fee. Lender may not charge fees that are expressly prolu1>ited by this Security Instrument or by Applicable Law. If the Loan is subject to a Jaw which sets maximum loan charges, and that Jaw is :finally interpreted so that the interest or other loan charges coUectcd 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 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 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 arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. 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 any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower bas designated a substitute notice address by notice to Lender. Borrower sbaIl promptly notify Lender of Borrower's change of address. If Lender specifies 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 InsIrument at any one time. Any notice to Lender sbaIl be given by delivering it or by mailing it by fùst class mail to Lender's address stated herein unless Lender bas designated another address by notice to Borrower. Any notice in connection with this Security Instrwnent shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instmment is also required under Applicable Law. the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Constmdion. This Security Instnunent shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained Loan No: 124959458 Wyødnc Mo.....-sinsle FIlllÚIy-P'.... ~ Mile UNßIORM INSTRUMENT -THE COMPLIANCE SOURCE, INc.- Pqe 10 otl" ..... -". --- ....1111111 MERS ModIIIeð'_ 3151 01JD1 tCH1WY _ 02lJOO, 1110 ~ Bourœ, Inc. 0325286 000239 in this Security lnsIrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent. but such silence sbaU not be construed as a prolùbition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with AppUcable Law, such conflict sbaU not affect other provisions of this Security InsIrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender sball mean and include corresponding neuter words or words of the feminine gender, (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Bol't"Ower's Copy. Borrower shall be given one copy of the Note and of this Security InsIrument. 18. Transfer of the Proper1y or a Benefidal Interest in Borrower. As used in this Section 18. "Interest in the Property" means any legal or beneficial interest in the Property. including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. 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 inunediate payment in full of all swns secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prolùbited 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 given in accordance with Section 15 within which Borrower must pay all swns secured by this Security Instrumem. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrwnent discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power ofsale contained in this Security Instrument; (b) such other period as Applicable Law might specifÿ for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instnunent Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instnunent 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 Instrument, 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 under this Security Instnunen~ and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue 'Inch=-nged. Lender may require that Borrower pay such reinstatement sums and expeuses in one or more of the following fonns, 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, instmmentaJity or entity; or (d) Electronic Funds Transfer. Upon reindAfP.l11f'.t1t by Borrower, this Security Instroment and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of accelemtion under Section 18. 10. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest 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 in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Se1VÍcer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will slate the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESP A requires in connection 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 purchaser of the Note, the mortgage loan se1VÍcing I.Dan No· 1 4 5 58 WyomInl Mortpae.Singlo Flllllily-FIIIIIIIe MaIFntWIe Mae UN -Tm: CoMPLIANCE SOtJRCE.1NC.- ..... ......................... MERS ModUIed F_ 3051 0..... 14JOIWY _ c:zooo. '\be Cœlplioaoo Souø>e, b1c. 0925286 000240 obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purcbascr. 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 Ú'Om the other party's actions pursuant to this Security Instrument or that alleges that the other party bas breacbed any provision ot: or any duty owed by reason of: this Security Instrument. until such Borrower or Lender bas notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period wbich must elapse before certain action can be taken, that tiJne 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 oftbis Section 20. 21. Hazardoul Substanee.s. As used in this Section 21: (a) "Hazardous Substances" are those substanœs defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action. or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, conttibute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazatdous Substances. on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, 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. Tbe preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are gencraJ1y recognized to be appropriate to nonnal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower sba1l promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatmy agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower bas actua1 knowledge, (b) any Environmental Condition, including but not linúted 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 Substanœ 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 all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender maD give notice to Borrower prior to accderation foUowing Borrower's breach of any covenant or agreement in tbis Security Instnllneat (but not prior to aeceleratioD under Section 18 unless Applicable Law provides otherwise). The DOtice IbaU spedfy: (a> the del....; (b) the action required to cure the default; (c) a date, not leu than 30 daYI from the date the Dotke II giveD to Borrower, by which the default mult be cured; and (d) that failure to cure the default on or before the date specified in tbe notice may ranlt in acceleration of die III'" secured by this Security IDItnuDeat ud sale of the Property. The notice IbaII further worm Borrower of the right to reinatate after aa:dendiM .. die right to briag a court action to assert the DOD-exløtence of a default or any other defeoøe of Borrower to aeœleratioa aDd ale. If the defllUlt is not cured on or before tbe date lpedf1ed in tbe notice, LeDder at itl loan No: 124959458 W)'GIDIDI Mo~insle Family-F.... ~ Mae IJNDIORM INSTRUMENT -THE COMPLIANCE SOURCE, 1Nc.- Page 1% 0114 --''''''~ -- --. MERSMoIIIW... 3051 OIJDI I~WY""'" 02000, 1bo CœIpIíoaœ &uœ. Inc. O~25~8G 00024~ option may require ÌlDlDediate payment in fun of all sums secured by this Security Instnunent without further demand and may invoke tbe power of sale and any other remedies permitted by Applicable Law. Lender 8Itall be entitled to collect all expenses incurred in pursuing tbe remedies provided in tbis Section 22, induding, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender IhaIl give notice of intent to foreclose to Borrower and to tbe person in possession of the Property, if diß'erent, i. IttOnIance with AppliWtle Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publisb the notice of sale, and the Property daaII be sold in the manner prescribed by Applicable Law. Lender or its designee may purthase the Property at any ale. The proœeds of the sale IbaII be applied in the following order: <a) to all expeDSeS of the sale, including, but not limited to, RUOIIable attonaeya' fees; (b) to ... 8UIDI sa:ared by .... Security Instmment; and (e) any excess to tbe person or persons legally entitled to it. 23. Release. Upon payment of all swns secured by tlús Security Instrument, Lender sball release tlús Security Instnunent Borrower shall pay any recordation costs. Lender may chaIge Borrower a fee for releasing this Security Instnunent, but only if the fee is paid to a third party for services rendered and the cbarging of the fee is pennitted under Applicable Law. 24. Waiven. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the teons and covenants contained in tlús Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: Printed Name: (Seal) -Borrower (PffJa8f1 Complete] ~e~ Joseprine E Penrod .Borrower Printed Name: [P/ea8f1 Complete] (Seal) -Borrower (Seal) -Borrower [Acknowledgment on Following Pege] Loan No: 124959458 WyollllD& MoIitap-SingIe Family.F......e MllelFreddle Mae UNIFORM INSTRUMENT -TBE COMPLIANCE SoURCE, INc.- Pale 13 or 14 -.~..... 'IOIIIIBII.. MERS Modlfted Form 3051 OtIClt 14J11WY _ 02000, n. CompIoaœ s.ouœ...... 0925Z8G State of W4Ørn.;¡ ~ County of -r-6kJt1 § § § 000242 Before me the undersigned authority, on this day persooally appeared stanley F PenI'Cd and JOS6phine E Penrod known to me (or proved to me through an identity card or other document) to be the person(s) whose name is subscribed to the foregoing instnunent. and acknowledged to me that helshelthey executed the same for the pwposes and consideration therein expressed. Given under my band and.... on this -4*' ~ b..r1 (Seal) , m No Public My Commission Expires: DIANA M. JOY· NOTARY PUBUC County 01 . State of Teton WyolTI/n My Commission Exp/ree ~ . dOO t." ~ .!>- I-D7 Loan No: 124959458 WyomInl Mortpce-SIn¡Io Family.'.... MIIe/FftdIUe MK UNIFORM INSTRUMENT -Tm: COMPUANCI: 8otJllCE, 1Nc.- Pap 14 of 14 .........---- 11..11111111 MERS ModIIIed '_305. 0.... 143DIWY OØI 02000. '1110 Cc1mpIiIaœ IIouIœ, Ino. O~25286 000243 ADJUSTABLE RATE RIDER (LmOR One-Year Index (As Published In The Wall Street Journal)-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 4th day of Deœnber, 2006 , and is incorporated into and shan be deemed to amend and supplement the Mortgage, Deed ofTIUSt, or Security Deed (the "Secwity Instrument") of the same date given by the undersigned (the "Borrower") to secure ÐolTOwer's Adjustable Rate Note (the "Note") to T....rh......... Bank F .S.B., a federally cbartered savings bank ....-.l&........ , (tIie "Lender") of the same date and covering the property described in the Secwity Instrument and located at: 249 North stJ:eet, Grover, WI' 93122 [Property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONmLY PAYMENT. THE NOTE UMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE 11ME AND THE MAXIMUM RATE mE BORROWER MUST PAY. ADDmONAL COVENANTS. In addition to the covenants and agreements made in the Security Instnnnent, BOlTOwer and Lender further covenant and agree as fullows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 6. 750 %. The Note provides for cbanges in the interest rate and the monthly payments as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of Deœnber, 2009 , and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) Tbe Index Beginning with the first Change Date, my interestrate will be based on an Index. The "Index" is the average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market ("LIB OR"), as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days befure each Change Date is called the "Cunent Index." If the Index is no longer available, the Note Holder win choose a new index which is based upon comparable infunnation. The Note Holder will give me notice of this choice. . Loan NO: 124959459 MIN: 100055401249594583 Multlltate AdJultable Rate Rldel'--WSJ o..Year LlBOR-8ingJe Family-FaDDle Mae UNlJIORM INSTRUMENT Form 3189 6101 -TmtCOMI'UANCJ:SOURCE, 1Ne.- Pace II1U 1_.... 24Ð4MU .....1 w.............................. 02001, The Cotq>IiIoco Sou.... Inc. O~:J2SZEJ6 000244 (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding seven ard K>/100Oths percentage points ( 7.000 %)totheCmrentIndex. TheNoteHolderwill then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate tmtil the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be ,the new amount of my monthly payment. (D) limits on Interest Rate Changes The interest rate I am required to pay at the first Otange Date will not be greater than 8. 750 % or less than 7 . 000 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percentage points ftom the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 12.750 %. . (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include Înfunnation required by law to be given to me and also the title and telephone number of a person will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERty OR A BENEFI INTEREST IN BORROWER Section 18 of the Security Instrument is amended to read follows: Transfer of the Property or a Beneficial Intere t In Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial i terest in the Property, including, but not limited to, those beneficial interests 1ransferred in a bond for deed, contract for deed, instaUmeot sales contract or escrow agreement, the intent ofwbich is the 1ransfcr of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or 1ransferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or 1ransferred) without Lender's prior written consent, Lender may require immediate payment in full of aU sums secured by this Security Instrument. However, tbis option shaD not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended 1ransferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. Loan NO: 124959458 Multlstate AdJultable Rate Rlder-WSJ ODe-Yelr LIBOR-8ÎDglo Family-Fa.1de Mae UNIFORM INSTRUMENT Form 3189 6/01 -TuCOMl'UANCll SOURCE, 1Nc.- Pap Z II' 3 IIIIIIO.IU 246.14MU ..... www._~.com 01001. Tho Con.,Iioøco Soun:c.lnc. O~~252t"-JG 000245 To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement tbat is acceptable to Lender and tbat obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shan 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 within which Borrower must pay all sums secured by this Security Instrument. IfBolTOwcr fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Secmity Instnønent without further notice or demand on BOlTOwer. BY SIGNING BELOW, BolTOwer accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. ~¿f27{ ~,~ (Seal) -c¿:" -Bonowa- JoSephine E Penrod -Bmrower (Seal) -~ (Seal) -BŒlII1Wr Loan No: 124959458 Multlstate AdJu·table Rate Rlder-4VSJ One-Year LIBOR-Single Family-Faunle Mae UNIFORM INSTRUMENT Form 3189 6/01 -TnECOMPLIANa: SoURCE, 1Nc.- Page 3 of 3 ,.._. .. I 2404MU II1II1 www·.......~.COIII . O2GOI, Tœ CoqIIioacc Soouto, r... O~2S286 000246 ADDENDUM TO FIXED/ADJUSTABLE RATE RIDER Loan #: 124959458 THIS ADDENDUM to the Fixed/Adjustable Rate Rider is made this 4th day of DecEIIiJer, 2006 I and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") and Fixed/Adjustable Rate Rider of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to IndyMac Bank, F .S.B., a federally cha:rt.eted savings bank (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 249 North stJ:eet, Grover, WY 83122 [Property Address] ADDITIONAL COVENANTS. In Addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: 1. 8ectlon4(D) of the FlxedJAdjustabllRate Rlderls modified as follows: The interest rate I am required to pay at the first Change Date will not be greater than 8.750 % or less than 7.000 %. Thereafter, my interest rate will never be Increased or decreased on any single change Date by more than b,¡c aIX1 m/100Oths percentage poInt(s) ( 2.000 %) from the rate of Interest I have been paying for the preceding 12 months. My interest rate will never be greater than 12.750 % or less than 7.000 %. ~-.:.nto -~._-- '1IIIIIIInlll. lPage 1 of 2 1075 8480345 (0602) VMP Mortgage Solutions, Inc. 2/06 O(··"~C"rJlti..!.' . JøGíYl~c.~ \;.) 000247 2. All other provisions of the Fixed/AdJustable Rate Rider are unchanged by this Addendum and remain in full force and effect. (Seal)~~~~ -Borrower . E Penrcd -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) ·Borrower -Borrower (Seal) (Seal) -Borrower ..Borrower 8480345 (0602) 111IIIIIIIIIIIIIII 1075 Page 2 of 2 2/08 ,.,""1....."· -.--n.".. - -------- ·~U(-m-6l11ti T-736 P.004/00T F-281 000248.. A tract ofland lying in the S ~ SW ~ of Section 33, T33N R1l8W of the 6th P.M., ofLincoIn County, Wyoming more particularly described as folJows: BegimÌng at a point which is N 89°57' E, 1253,02 feet trom a point identified by two witness comers· as being the southwest comer of said Section 33 and running thence N 0°03' W, 252.50 k~ . Thence N 89°57' E, 233.87 feet; Thence S 1 ° 17' W, 103.00 feet; Thence S 28°32' W, 170.28 feet: Thence S 89°57' W, 150.00 feet to the point of beginning. rl\\lM"'Ioi6I111 II ~" \,umpilny For infonnation puxposes only, the property address is purported to be; 249 Nonh Street Grover, Wyoming 83122 STEWART TITLE GUARANTY' COMPANY Commhmmt- Schc~l\I1c: ^ Pop:2 or2