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HomeMy WebLinkAbout927376 -'lq l Çi:1 J \ l 17 ¡; ) ), \i' ' ÎY 000319 After recording please return to: ~~., C/O [Company Name} [Name of Natural Person} BLDG B, 901 E 104'IH ST, SUI 'IE 400/500 [Street Address} RECEIVED 3/6/2007 at 2:13 PM RECEIVING # 927376 BOOK: 650 PAGE: 319 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY KANSAS CITY, MO 64131 [City, State Zip Code} [Space Above This Line For Recording Data} MORTGAGE ~us 100055401253987293 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18,20 and 21. Certain rules regarding the usage of words used in tills document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated together with all Riders to tills document. February 21, 2007 (ß) "Bon-ower" is ANNE WHITEHURSI' A MARRIED wa.1AN AS HER SOLE AND SEPARA'IE PROPERTY . Borrower is the mortgagor under tills Security Instrument. (C) "~ERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. ~ERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, 1\11 48501-2026, tel. (888) 679-MERS. (D) "Lender" is INDYMAC BANK, F.S.B., A FEDERALLY QIARTERED SAVINGS BANK Lender is a Federal Savings Bank organized and existing under the laws of United States of America . Lender's address is 155 NOR'IH LAKE AVENlÆ, PASADENA, CA 91101 Loan No: 125398729 Wyoming M0I1gage-Single Family-Famue MaelFreddie Mac UNIFORM INSTRUMENT -Tim COMPLIANCE SOURCE, INC.- Page 1 of 14 www,ccmpliaJlcescurce,ccm 11111111111111111111111 II IIIUIIEI MERS Modified Fonn 3051 01101 14JOIWY 08/00 02000. The Compliance Source, Inc, 0927376 000320 (E) "Note" means the promissory note signed by Borrower and dated February 21, 2007 The Note states that Borrower owes Lender one hundred ninety two thousand five hillldred and NO/100ths Dollars (U.S. $ 192,500.00) plus interest. Borrower has proDÙsed to pay this debt in regular Periodic Payments and to pay the debt in 1ì.1l1 not la ter than March 1, 2047 (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 Instnunent, plus interest. (H) "Riders" means all Riders to this Security Instnunent that are executed by Borrower. The following Riders are to be executed by Borrower (check box as applicable]: o Adjustable Rate Rider D Balloon Rider D 1-4 Fan1ily Rider D Other(s) {specify] D Condominium Rider D Planned Unit Development Rider D Revocable Trust Rider ~ Second Home Rider D Biweekly Payment Rider (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules 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 originated by check, draft, or similar paper instrument, which is initiated through an electronic tenninal, 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 liDÙted 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 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; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) DÙsrepresentations of, or oDÙssions 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 under Section 3 of this Security Instrument. Loan No: 125398729 Wyumlng Mortgage-Single Family-FalUúe MaelFreddie Mac UNIFORM INSTRUMENT -TIm COMPLIANCE SOURCE, INC.- Page 2 of 14 www.compliancesource.comllD gl~llnIŒllllllllllllgll~1 MERS Modified Form 3051 01101 14J01WY 08/00 02000. The Compliance Source. In.c, O~2737b Ovvu21 (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation tlmt governs tlle same subject matter. As used in tlùs Security Inslrument, "RESP A" refers to all requirements and restrictions 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 RESP A. (Q) "Successor in Interest of Borrowe[" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligationj under the Note and/or tlùs Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of tlle Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under tlllS Security Instrument and the Note. For tlllS 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 described property located in tlle County of LINCDIN [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] SEE EXHIBIT A A'ITI\ŒIED HEREIO AND MADE A PART HERlOC)F which currently has the address of ALPINE , Wyoming 368 WOODEN SPUR [Stre st] 83128 ("Property Address"): [Zip Code] [City] TOGETHER WITH 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 shal1 also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Propeny." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Inslrument, 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 limited to, the right to foreclose and sell tlle Property; and to take any action required of Lender including, but not limited to, releasing and canceling tlùs Security Instrument 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 generally the title to the Property against all claims and demands, subject to any encumbrances of record. Loan No: 125398729 W)'omblg MOI-tgage-Single Fwnily-Fwutie MaelFreddie Mac UNIFORM INSTRUMENT -TilE COMPLIANCE SOURCE,lNC.- Page 3 of 14 www.co.nplia..cesoulce.comIIIIIOII Ullllmœmœlllllllllllll MERS Modified Fonn 3051 01/01 14JOIWY 08/00 02000, The Complianoe Somoa, Ino, /.", O~~7~'(tJ 000322 THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-wmorm covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if 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 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 institution 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 15. Lender may retum 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 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 tlle future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied fllUds 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 funds or return them to Borrower. If not applied earlier, such funds will be applied to tlle outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower llÙght have now or in the future against Lender shall relieve Borrower from making payments due under tlle Note and tlùs Security Instrument or performing the covenants and agreements secured by this Sccurity Instrument. 2. A¡I)¡Jication of Payments or Proceeds. Except as othetwise described in this 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) anlounts due under Section 3. Such payments shall be applied to each Periodic Payment in tlle order in which it became due. Any remaining amounts shall be applied ftrst to late charges, second to any other anlounts 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 tllilll one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of tlle Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent tllat 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 ftrst 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) prellÙums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance prellÙums, if any, or any swns payable by BOlTower to Lender in lieu of the payment of Mortgage Insurance prellÙums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the tenn of the Loan, Lender may require tlmt COllununity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, Loan No: 125398729 W)'oming Mol'tgage-Single F8I1Ùly-FaIUde MaelFreddie Mac UNIFORM INSTRUMENT -THE COMJ'LlANCE SOURCE,lNC.- Page 4 of 14 www,oompliono..ouroe.oom IIII W1111m11mW1U11 D Ilmlm~ MERS Modified Fonn 3051 01/01 14J01WY 08100 02000, The CompliOJlC>e Sour... In., 0927376 000323 and such dues, fees and assessments shall be an Escrow Item. Borrower shall 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 all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and 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 all 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 permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximmn 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 cntity (including Lender, if Lender is an institution whose deposits are so insured) or in 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 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 permits 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 shall 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 a nnllal accounting of the Funds as required by RESP A. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower 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 montlùypayments. If there is a dcficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESP A, but in no more than 12 montlùy payments. Upon payment in full of all 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, fmes, and impositions aLtJibutable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lcnder, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or dcfcnds 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 I nstrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which Loan No: 125398729 W)'omblg Mortgage-Single Farnily-Famúe Mae/Freddie Mac UNIFORM INSTRUMENT -TIm COMPLIANCE SOURCE, INC.- Page 5 of 14 www,compliancesourcecom I111 UIIIIIIU IIIIIIIIIIIIUIOIII MERS Modified Fonn 3051 01/01 t430tWY 08/00 02000, The Compli8J\ce Source. Inc. O~~'(~' 'U 000324 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 Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in cOlUlection with this Loan. 5. Property Insurance. 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 limited to, earthquakes and floods, for which Lender requires insurance. This insurance s111111 be maintained in the amounts (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 Borrower's choice, 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 detennination, certification and tracking services; or (b) a one-time charge for flood zone detennination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such detennination 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 detennination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser 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 under this Section 5 shall become additional debt of Borrower secured by this Security I nstnlInent. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee, Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form 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 ma ke proof of loss _ if 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 right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If Ú1e restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower, Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and relatcd matters. If Borrower does not respond witmn 30 days to a notice from Lender that the insurance carrier has Loan No: 125398729 Wyoming Mortgage-Single Family-Falllúe Mae/Freddie Mac UNIFORM INSTRUMENT -TIm COMPLIANCE SOURCE, INC.- Page 6 of 14 www_ccmpliOJlcescurce,ccm IIIIIÐ~IIIIIIIII~IIIIIIIIIIIIIIIIIIII MERS Modified Fonn 3051 01/01 14JOIWY 08/00 02000. The Compliance Source,lnc, 0927376 o [Cered to settle a claim, then Lender may negotiate and settle the claim. The 3D-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assi!:,'1ls to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, 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 Borrower's control. : 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Propehy to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the 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 repair or restoration. Lender or its agent may make reasonable entries 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 Application. 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 or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material infornmtion) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. P.-otection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Lnstmment (such as a proceeding in bankruptcy, 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 Security Instrument, 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 which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security I nstrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions" and have utilities turned on or off. AlIhough Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. 000325 Loan No: 125398729 Wymlling M0I1gage-Singte Family-FalUue MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 7 of 14 www.compliancesowce.comlllllll~IIIIIIIII~llllllllllllm II~ MERS Modified Fonn 3051 01/01 14JOIWY 08/00 02000, The Compliance Source, Inc. 0927376 000326 Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If tlús Security Instrument is on a ieasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge UIÙess 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 preIIÚums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reseIVe in lieu of Mortgage Insurance. Such loss reseIVe shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or e3TIÚngs on such loss reseIVe, Lender can no longer require loss reseIVe 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 prenúums 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 preIIÚums for Mortgage Insurance, BOITower 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 termination or until termination is required by Applicable 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 (wlùch may include funds obtained from Mortgage Insurance preIIÚums). 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 payments for Mortgage Insurance, in exchange for sharing or modifying tlle mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the preIIÚums paid to the insurer, the arrangement is of1en tenned "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurancc, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the !VI {)J-tgagc InsUl-ance under the Homeowners Protection Act of 1998 or any other law. These rights may includc the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to havc the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insunmce prcmiums that were unearned at the time of such cancellation or termination. Loan No: 125398729 Wyoming M0I1gage-Single Family-Famue Mae/Freddie Mac UNIFORM INSTRUMENT -TIm COMPLIANCE SOURCE, INC.- Page 8 of 14 www,compliaJlcesource,oom IIII mil Illig IIIDIII~I D IlglIIlII MERS Modified Fonn 3051 01/01 14J01WY 08/00 02000, The Compliance Source. Inc, 092737b 000327 11. Assignment of Miscellaneous Proceeds; Foneiture. 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 economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportm1Ïty 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 shall not be required to pay Borrower any interest or earnings on such Miscellaneous 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 this 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, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. 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 equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender othenvise agree in writing, the sums secured by this Security Instrument 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, destruction, or loss in value divided by (b) the fair market va ¡ue 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 immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender othenvise 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 Opposing 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 collect and apply the Miscellaneous P rocceds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration 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 this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impainnent 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 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 Loan No: 125398729 W)'omJng Mortgage-Single Farnily-FalUùe Mae/Freddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 9 of 14 www.cQlnPliance50urce.comllllllllllllllllllllllllllllllllllllllm MERS Modified Fonn 3051 01101 14J01WY 08/00 C2000, The Complianoe Sourc:e.lno. 0927376 000328 BOITower or to refuse to extend time for payment or otheIWise modify amortization of the sums secured by tlùs Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of BOlTower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the a mount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs tlùs Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing tlùs Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms oftlùs Security Instrument; (b) is not personally obligated to pay the sums secured by tlùs 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 terms of tlùs 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 tlùs Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under tlùs Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements ofthis Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under tlùs Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in tlùs 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 maximum loan charges, and that law is fmally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pernùtted linùt; and (b) any sums already collected from Borrower which exceeded pennitted limits will be refhnded 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 ~U1y 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 tlùs Security Instrument must be in writing. Any notice to Borrower in connection with tlùs 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 otheIWise, The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address tlrrough that specified procedure. There may be only one designated notice address undertlùs Security I nstl1l1l1ent at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in cOlmection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under tlùs Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument 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: 125398729 W~'''lI1ing Mortgage-Single Family-FaJUue Mac/Freddie Mac UNIFORM INSTRUMENT -'I'I Œ COMPLIANCE SOURCE, INC.- Page 10 of 14 www.complianoe.ource.comIIIIIIIIIIIIIIIIIIlIIID~11111111111 MERS Modffied Fom13051 01101 14301WY 08/00 02000, The Compliance Source, mo, 0927~ - - 1329 in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitIy or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be constmed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instmment or the Note conflicts with Applicable Law, such conflict sha11 not affect other provisions of this Security Instmment or the Note which can be given effect without tile conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall 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) tile word "may" gives sole discretion without any obligation to take any action. 17. Bon-ower'sCopy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in tins Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests tnUlsferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is tile transfer of title by Borrower at a future date to a purchaser. If all or any part oftlle Property or any Interest in tile 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 immediate payment in full of all sums secured by this Security Instrument. 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 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 Instrument. If Borrower fails to pay these swns prior to the expiration of tins period, Lender may invoke any remedies pennitted by this Security Instrument without furtller notice or demand on Borrower. 19. Bon-ower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have tile 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 tins Security Instrument; '(b) such other period as Applicable Law might specifY for the tennination of Borrower's right to reinstate; or (c) entry of a judgment elúorcing tins Security Instrument Those conditions are that Borrower: (a) pays Lender all sums which then would be due under 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 Instrument, including, but not linnted 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 tins Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under tins Security Instrwnent, and Borrower's obligation to pay the swns secured by this Security Instrument, shall , continue lUlchanged. Lender may require that Borrower pay such reinstatement sums and expenses 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 institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic FWlds Transfer. Upon reinstatement by Borrower. this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, tins right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with tins Security Instrument) can be sold one or more tinles without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") tItat collects Periodic Payments due under tile Note and tins Security Instrument and performs other mortgage loan servicing obligations under the Note, tins Security Instrument, and Applicable Law. There also lnight be one or more changes of tlle Loan Servicer W1felated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change wh ich will state tile name and address of the new Loan Servicer, the address to which payments should be made and any other i1úonnation RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter tile Loan is serviced by a Loan Servicer other than the purchaser of tile Note, the mortgage loan servicing Loan No: 125398729 W)'OInlng Mortgage-Single Family-FaJUde MaelFl'eddie Mac UNIFORM INSTRUMENT -TilE COMPLIANCE SOURCE, INc.- Page 11 of 14 www,complimleesowee.eom 1IIIIIIIIIIIIIIæW 11111 II 1I111 IIIIW MERS Modined Fonn 3051 01/01 H301WY OB/OO 02000, The Compliance Sowee, Inc. O~IG'( 000330 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 lUÙess 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 from the other party's actions pursuant to tlùs Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, tins Security Instrument, ootil such Borrower or Lender has 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 which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. TIle notice of acceleration and opportwùty to cure given to Borrower pursuant to Section 22 and the nolice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in t1ús 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 flanunable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials contaÏ1Ù11g asbestos or formaldehyde, and radioactive materials; (b) "Enviromnental 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 action, remedial action, or removal action, as defined in Enviromnental Law; and (d) an "Enviromnental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or perrit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous 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 Enviromnental Law, (b) which creates an Enviromnental 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. The preceding two sentences shall not apply to the presence, use, or storage on the Property, of small quantities of Hazardous Substances that are generally 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 shall promptly give Lender written notice of (a) any investigation, claim, demand, . lawsuit or other action by any govermnental or regulatory agency or private party involving the Property and any Hazardous Substance or Enviromnental Law of which Borrower has actual knowledge, (b) any Enviromnental 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 va I ue of the Property. If Borrower learns, or is notified by any govenunental or regulatory authority, or any private parly, 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 Enviromnental Law. Nothing herein shall create any obligation on Lender for an Enviromnental Cleanup. 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 BOITowcr's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration uudcl· Scction 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 from the date the notice is given to ßorrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specificd in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the PrOIJcliy. The notice shall further inform Borrower of the right to reinstate after acceleration and the rj~ht to hdng It COUJi action to assert the non-existence of a default or any other defense of Borrower to accclcration and sale. If the default is not cured on or before the date specified in the notice, Lender at its Loan No: 125398729 W)'( l1Ilng Mortgage-Single Family-FalUúe Mae/Freddie Mac UNIFORM INSTRUMENT -TIill COMPLIANCE SOURCE, INC.- Page 12 of 14 www.complianoesourçe.oom 1IIIIIIIIUlnl~IIUIID I~IIIIIII MERS Modilled Fonn 3051 01/01 14J01WY 01/00 Q2000, The Complianoe Souroe, Ino. '0927376 000331 option may require immediate payment in full of all sums secured by this Security Instrument without fUI'the.· demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lcnder shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable 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 thc IJerson in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Prope.iy shall 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 following order: (a) to all cxpcnses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Sccurity Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instmment. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instnllnent, but only if the fee is paid to a third party for seIVices rendered and the charging of the fee is permitted under Applicable Law. 24. Wnivers. 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 terms and covenants contained in this Security T nslnnnent and in any Rider executed by Borrower and recorded with it. (Seal) Witnesses: -Borrower Printed Name: [please Complete] (Seal) -Borrower Printed Name: [please Complete] (Seal) -Borrower (Seal) ,Borrower [Acknowledgment on Following Page] Loan No: 125398729 WyonlÙlg Mortgage-Single Family-FalUÚe Mae/Freddie Mac UNIFORM INSTRUMENT -TIm COMPLIANCE SOURCE, INC.- Page 13 of 14 www.oompliancesource.comlllllÐIIIIIIIII~œllllœl Ð 1IIIIIIIœl MERS Modified Fonn 3051 01101 14J01WY 08/00 02000, The Compliance Souroe, Ino, 0927376 () \...\ì{ "" Í', State of \...J:1.\\"\'\) (\\ V\. County of ~~\:r.~ § § § 000332 Before me the undersigned authority, on tills day personally appeared ANNE WHlTEHURSI' k Hown to me (or proved to me through.an.identity_card or other document) to be the 1?~(0 whose name is subscribed to the foregoing instrument, and acknowledged to me that ,héQ/theý executed the same for the purposes and consideration therein expressed. Given under my hand and seal on tills ,.Q.'b'â. day of ~\\I[A't'i <2£J'Ul , (Seal) ~ -.-;;;:;=- ~;;;~?-' My Commission Expires: ~ ..... - ........ ... JOSE LõpÊZ i -- --- J _ ., Commission #1533298 I ." .. Notary PublIc . Callfomla I j _ _ _ ~~~;.;r~2?t Loan No: 125398729 ""'Hilling Mortgage-Single Family-FaJU1ie Mae/Freddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, INC.- Page 14 of 14 www.comPliancesource.comIIIIUI~111111111111111111 01111111111 MERS Modified Fonn 3051 01/01 14301WY 08/00 02000, The Compliance Source, Inc, OS2737b 000333 SECOND HOME RIDER THIS SECOND HOME RIDER is made this 21st day of February, 2007 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower," whether there are one or more persons undersigned) to secure Borrower's Note to INDYMAC BANK, F. S.B., A FEDERALLY ŒARTERED SAVINGS BANK (the "Lender") of the same date and covering the Property described in the Security Instrument (the "Property"), which is located at: 368 WOODEN SPUR, ALPINE, WY 83128 [Property Address] In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrument are deleted and are replaced by the following: 6. Occupancy. Borrower shall occupy, and shall only use, the Property as Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment at all times, and shall not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or any other person any control over the occupancy or use of the Property. 8. Borrower's Loan Application. 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 or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's second home. [Signatures on Following Page} Loan No: 125398729 MIN: 100055401253987293 1\ lullistate Second Home Rider-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3890 01101 -TflE COMPLIANCE SOURCE, INC.- Page 1 of 2 14S04MU 08/00 Rev. 11/04 www.compœucesource.com C2004. The Compliance Source; Inc. III~IU 111I11"œllllœlllll~11I1111 U 0927376 000334 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Second Home Rider. (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower [Sign Original Only] Loan No: 125398729 Multlstate Second Home Rider-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -TIlE COMPLIANCE SOURCE, INC.- Page 2 of 2 www.complianceso\.Uce.com Form 3890 01101 U504MU 08/00 Rev. 11104 «:12004, The Compliance Source, Inc, lœllD 111111111111111 mœlll mill II 0927376 000335 ADJUSTABLE RATE RIDER ( 12 MAT Payment and Rate Caps) Loan #: 125398729 THIS ADJUSTABLE RATE RIDER is made this 21st day of Fehruary ,2007, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note") to INDYMAC BANK, F. S .B ., A FEDERALLY ŒARTERED SAVINGS BANK (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 368 WOODEN SPUR, ALPINE, WY 83128 [Property Address] THE NOTE CONTAINS PROVISIONS THAT WILL CHANGE THE INTEREST RATE AND THE MONTHLY PAYMENT. THERE MAY BE A LIMIT ON THE AMOUNT THAT THE MONTHLY PAYMENT CAN INCREASE OR DECREASE. THE PRINCIPAL AMOUNT TO REPAY COULD BE GREATER THAN THE AMOUNT ORIGINALLY BORROWED, BUT NOT MORE THAN THE LIMIT STATED IN THE NOTE. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES I will make all payments under this Note in the form of cash, check or money order. 2. INTEREST (A) Interest Rate Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at a yearly rate of 1.250 %. The interest rate I will pay may change. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 7(B) of this Note. (B) Interest Rate Change Dates The interest rate I will pay may change on the first day of April ,2007 and on that day every month thereafter. Each date on which my interest rate could change is called an "Interest Rate Change Date." The new rate of interest will become effective on each Interest Rate Change Date. MULTISTATE 12 MAT ADJUSTABLE RATE RIDER Page 1 of 5 8480194 (0508) VMP Mortgage Solutions, Inc. (800)521-7291 Form 3004 8/05 '0927376 000336 (C) Interest Rate Limit My interest rate will never be greater than 9.950 %. (D) Index Beginning with the first Interest Rate Change Date, my Interest Rate will be based on an Index. The "Index" is the Twelve-Month Average, determined as set forth below, of the monthly yields on actively traded United States Treasury Securities adjusted to a constant maturity of one year as published by the Federal Reserve Board in the Federal Reserve Statistical Release entitled "Selected Interest Rate (H.15)" ("the Monthly Yields"). The Twelve-Month Average is determined by adding together the Monthly Yields for the most recently available twelve months and dividing by 12. The most recent Index figure available as of 15 days before each Interest Rate Change Date is called the "Current Index". If the Index is no longer available, the Note Holder will choose a new Index that is based upon comparable information. The Note Holder will give me notice of this choice. (E) Calculation of Interest Rate Changes Before each Interest Rate Change Date, the Note Holder will calculate my new interest rate by adding three and 50/1000ths percentage point(s) ( 3.050 %) to the Current Index. Subject to the limit stated in Section 2(C) above, the result of this addition will be my new interest rate until the next Interest Rate Change Date. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making payments every month. I will make my monthly payments on the first day of each month beginning on April 1 , 2007 . I will make these payments every month until I have paid all the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before principal. If, on March 1, 2047 I I still owe amounts under this Note, I will pay these amounts in full on that date, which is called the "Maturity Date." I will make my monthly )ayments at INDYMAC BANK, F.S.B., P.O. BOX 78826, PHOENIX, AZ 85062-8826 or at a different place if required by the Note Holder. (B) Amount of My Initial Monthly Payments Each of my initial monthly payments will be in the amount of U.S. $ 509.83 This amount may change. (C) Payment Change Dates My monthly payment may change as required by Section 3(0) below beginning on the first day of April 1 2008 , and on that day every 12th month thereafter. Each Loan No: 125398729 8480194 (0508) Page 2 of 5 Form 3004 8/05 on^-3? 0927376 of these dates is called a "Payment Change Date." My monthly payment also will change at any time Section 3(F) or 3(G) below requires me to pay a different monthly payment. I will pay the amount of my new monthly payment each month beginning on each Payment Change Date or as provided in Section 3(F) or 3(G) below. (D) Calculation of Monthly Payment Changes Before each Payment Change Date, the Note Holder will calculate the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Payment Change Date in full on the Maturity Date in substantially equal installments at the interest rate effective during the month preceding the Payment Change Date, The result of this calculation is called the" Full Payment." Unless Section 3(F) or 3(G) below requires me to pay a different amount, my new monthly payment will be in the amount of the Full Payment, except that my new monthly payment will be limited to an amount that will not be more than 7.5 % greater or less than the amount of my last monthly payment due before the Payment Change Date. (E) Additions to My Unpaid Principal My monthly payment could be less than the amount of the interest portion of the monthly payment that would be sufficient to repay the unpaid principal I owe at the monthly payment date in full on the Maturity Date in substantially equal payments. If so, each month that my monthly payment is less than the interest portion, the Note Holder will subtract the amount of my monthly payment from the amount of the interest portion and will add the difference to my unpaid principal. The Note Holder also will add interest on the amount of this difference to my unpaid principal each month. The interest rate on the interest added to principal will be the rate required by Section 2 above. (F) Limit on My Unpaid Principal; Increased Monthly Payment My unpaid principal can never exceed a maximum amount equal to one hundred fifteen and NO/100ths percent ( 115.000 %) of the principal amount I originally borrowed. Because of my paying only limited monthly payments, the addition of unpaid interest to my unpaid principal under Section 3(E) above could cause my unpaid principal to exceed that maximum amount when interest rates increase. In that event, on the date that my paying my monthly payment would cause me to exceed that limit, I will instead pay a new monthly payment. The new monthly payment will be in an amount that would be sufficient to repay my then unpaid principal in full on the Maturity Date in substantially equal installments at the interest rate effective during the preceding month. (G) Required Full Payment On the 5th Payment Change Date and on each succeeding 5th Payment Change Date thereafter, I will begin paying the Full Payment as my monthly payment until my monthly payment changes again. I also will begin paying the Full Payment as my monthly payment on the final Payment Change Date. Loan No: 125398729 8480194 (0508) Page 3 of 5 Form 3004 8/05 0927376 000338 4. NOTICE OF CHANGES The Note Holder will deliver or mail to me a notice of any changes in the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Section 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial 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 it 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 immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by lender if such exercise is prohibited by federal 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 transferee 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. 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 that is acceptable to lender and that 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 shall 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 sums secured by this Security Instrument. 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. Loan No: 125398729 8480194 (0508) Page 4 of 5 Form 3004 8/05 092737:L 000339 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in t is Adjustable Rate Rider. Loan No: 125398729 8480194 (0508) (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower Page 5 of 5 Form 3004 8/05 09Z?376 EXHIBIT A 000340 Lot 27 of the Greys River Village Second Addition to the Town of Alpine, Lincoln County, Wyoming as described on the official plat filed on July 22, 1994 as Instrument No. 788017 of the Records of Lincoln County Clerk.