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HomeMy WebLinkAbout928495 l.tó 6010715162 Return To: CHASE BANK USA, N,A, 700 Kansas Lane Mail Code: LA4-4l06 Monroe, LA 71203 ATTN: TRAILING DOCUMENTS Prepared By: Janesku1 Sanguancheu 300 Tice Blvd, 3 North Woodcliff Lake, NJ 07677 v\ [Space Above This Line For Recon1lng Data] MORTGAGE "1,\ \~\., -' \ c\ , \ C/ RECEIVED 4/17/2007 at 11: 18 AM RECEIVING # 928495 BOOK: 654 PAGE: 685 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY DEFINITIONS \. Words used in multiple sectioDSof this document are defined below and other words are defined in Sections 3, 11, 13, 18,20 and 21. Certamrules regarding the usage of words used in this document are also provIded ill Section 16. (A) "Security Instrument" means this document, which is dated April 13, 2007 together wtth a11 Riders to this document. (B) "Borrower" is JOHN E TIBBETTS AND MICHELLE M TIBBETTS, HUSBAND AND WIPE Borrower IS the mortgagor under this SecurIty Instrument. (C) "Lender" is CHASE BANK USA, N.A. Lender 18 a nationally chartered bank organized and eXISting under the laws of 'UNITED STATES OP AMERICA WYO~ING -Single Family- Fannie MaelFredlile Mac UNIFORM INSTRUMENT Form 3051 1/01 G-6(WY) (0005) ~ (I) Pege 1 0116 InlUal VMP MORTGAGE FORMS· (800)521-7 , 1111/111111111111111111111111111111 :272: TIBBETTS, 8010034050 00"'6 I OS2B495 Lender's address IS 200 White Clay Center Drive, Newark, DE 1.9711 Lender is the mortgagçe under this Security InstrumC;1nt. (D) "Note" means tIte promjssory note signed by Borrower and dated April 13, 2007 The Note states that. Borrower owes Lender ,ONE HUNDRED FOURTEEN THOUSAND THREE HUNDRED &: 00/100 Dollars (U,S. $ 114,300.00) plus interest. Borrower has promjsed to pay this debt in regular Penodic Payments and to pay the debt in full not later than May 1, 2037 (E) "Property" ;means the property tbat IS described below under the heading "Transfer of Rights ill the Property. " (F) "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 Instrwnent, plus Interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider DVARider D Condominium Rider D Planned Unit Development Rider D Biweekly Payment Rider [X] Second Home Rider D 1-4 Family Rider D Other(s) [specifY] (II) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and adnunistrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial Opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other chaxges that are imposed on Borrower or the Property by a condOIDlß1um association, homeowners association or smu1ar organízatlon. (J). "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or s1111i1ar paper mstrwnent, wlúch IS initiated through an electromc tenmnal, 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 IÍ1DJted to, pomt-of-sale transfers, automated teller machine transactions, transfers mitiated by telephone, WIle transfers, and automated clearinghouse transfers. (1{) "Escrow Items" meaJlS those items that are described in Section 3. (L) "Mlscellaneo1ls Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeda paid under the coverages described III Section 5) for: (i) damage to, or destruction of, the Property; (ü) condemnation or other taking of all or any part of the Property; (ill) conveyance ill lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (:M) "Mortgage Insurance" means msurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "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. (0) "JlESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they mtght be amended fi'om time to tIme, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requiremenL9 and restrIctions that are Imposed In regard to a "federally related mortgage loan" even jf the Loan does not qualifY as a "federally related mortgage loan" under RESP A. _ -6(WY} (0006) Ci> Pege 2 0/16 .~ Form 3051 1/01 :272: TIBBETTS 8010034050 000817 O~84:95 (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not tl1at party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (ì) 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 Instrwnent and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the folloWing described property located in the C<:>unty of Lincoln (Type of Reçording Iurisdichon] [Name of Recording JUrisdiction] All that tract or parcel of land as shown on Schedule "A" attached hereto which is incorporated herein and made a part hereof. Parcel ID Number: 12-2416 -23 -3 -04-023,00 1336 EAGLE VIEW RD KEMMERER ("Property Address"): which currently has the address of [Street] [City] ,Wyommg 83101 [Zip Code] 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 shall also be covered by this Securlly Instrument. All of tlle foregomg IS referred to in this Security Instrument as the OJ Property. " BORROWER COVENANTS that Borrower IS lawfully seised of the estate hereby conveyed and has the nght 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 agalDSt all claims and demands, subject to any encumbrances ofrecord. THIS SECURITY INSTRUMENT combines unifonn covenants for :national use and non-unifonn covenants with limited vanations by jurisdiction to constitute a unifonn 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 sllall pay when due the principal of, and .i,nterest on, the debt eVidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shaU also pay fimds for Escrow Items pursuant to SectIon 3. Payments due under the Note and this Security Instrument shall be made in U.S, :::::::'. ü ~ -. w o~, "~::,::'Wd ~ ~1P -, ~:: :: :272: TIBBETTS 8010034050 OS2S495 000888 Security Instrument is returned to Lender unp:ud, 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 folDlS, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or caslúer's check, provided any such check 18 drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) ffiectronic 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 return any payment or partial payment if the payment or partial payments are insufficient to bring tile 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 futut;e, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodid Payment 18 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 penod of time, Lender sha11 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 illlmediately prior to foreclosure. No offset or claim which Borrower might have now or In the future against Lender shall relieve Borrower trommaking payments due under the Note and this Secunty hlStrument or perfomung the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds, Except as otherwIse described ill this Section 2, all payments accepted and applied by Lender shall be applied in the followIng order of pnoClty: (a) mterest due under the Note; (b) pnncipal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment ,ìn the order in which it became due. Any rema.uung amounts shall be applied first 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 Penodic 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 Penodic Payment is outstanding, Lender may apply any payment received trom Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment IS applied to the full payment of one or more Periodic Payments, such excess may be applied to any late clJarges due, Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or poSlpOlle the due date, or chanße the amount, of the Periodic Payments. 3. Funds for Escrow Items, Borrower shall pay to Lender on tlle day Periodic Payments are due under the Note, until the Note is pald in full, a sum (the "Funds") to provIde for payment of amounts due for: (a) taxes and assessments and other items which can attaIn prionty over this Secunty Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents 011 the Property, If 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 Insurance premiums in accordance with the proVIsions of Section 10. These items are called "Escrow Items," At origination or at any time during the tem of the Loan, Lender m~y reqUIre that Commwnty AssocIation Dues, Fees, and Assessments, If any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly ful1lJSh to Lender all notices of amounts to be paid tinder tlùs Section. Borrower shall pay Lender the Funds for Escrow Items ulÙess Lender W81ves Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may W81ve Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may olÙY be 111 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 ~ -6(WY) (0006) Paga 4 of 16 InlllaJ~ Ý Form ,3051 1/01 ;2721 TIBBETTS 8010034050 ..-... O~2B495 000689 ' Fu.nds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment wIthin such time penod as Lender may require. Borrower's obligatlOn to make such payments and to provide receipts shall for all pUIposes 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 amO\Ult due for an Escrow Item, Lender may exercise Its nghts under Section 9 and pay such amO\Ult 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 tune by a notice given in accordance WIth Section 15 and, upon such. revocation, Borrower shall pay to Lender all Funds, and in such amo\Ults, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pennit Lender to apply the Funds at the tune specified under RESPA, and (b) not to exceed the, maxlffium amount a lender can reqUire \Ulder RESPA. 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 feùcral agency, instrumentality, or entity (íncluding 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 ilIaD the time specified under RBSPA. Lender shall not charge Borrower for holcling and applymg the Funds, annualIy analyzing the escrow accO\Ult, or verifying the Escrow Items, unless Lender pays Borrower lllterest on the Funds and Applicable Law pemuts Lender to make such a charge. Unless an agreement is made in wnting or Applicable Law reqwres interest to be paId on Ille Funds, Lender shall not be required to pay Borrower any mterest or earnings on the Funds. Borrower and Lender can agree III wnting, however, that interest shall be paid on the Funds. Lender shall gIve to Borrower, without charge, an annualacco\Ulting of the Funds as required by RESPA. If there is a suxplus of Funds held m escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance WillI RESPA. If there IS a shortage 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 necessary to make up the shortage m accordance WIth RESPA, but 111 no more than 12 montIùy 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 t.o Lender the amount necessary to make up the deficiency in accordance WIth RESP A, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this SecurIty Inslrwnent; Lender shall promptly refund to Borrower any Funds held by Lender. 4, Charges; Liens, Borrower shall pay all taxes, assessments, charges, fines, and unpositions attributable to the Property which can attain prionty 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 m the manner provided in Section 3. Borrower shall promptly discharge any lien which has prionty over this Security Instrument unless Borrower: (a) agrees m wnting to the payment of the obligation secured by the lien in a manner acceptable to Lender, but amy so long as Borrower is perfonning such agreement; (b) contests the lien III good faith by, .or defends against enforcement of the lien In, legal proceeclings willch in Lender's opinion operate to prevent the enforcement of the lien willie those proceedings are pending, but omy until such proceedings are concluùcd; .or (c) secures fr.om the holder of the lien an agreement satisfactory to Lender subordinating the lien to this SecurIty Instrument. If Lender determmes that any part of the Property IS subject to a lien which can attain prionty .over this ~ecurity Instrument, Lender may give Borrawer a notice identifying the lien. Within 10 G-6(WY) (0006) CB> Pago 6 of 16 Inlt¡@ ;;¡ Form 3051 1/01 :272: TIBBETTS 8010034050 0S28495 000690 days of the date on which that notice is given, Borrower shall satisfY the lien or take one or more of the actions set forth above in tJús 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 connection with this Loan. 5, Property Insurance, Borrower shall keep the Í1nprovements now eXisting or hereafter erected on the Property insured against loss by fire, hazards Included within the tean "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires msurance, This Ulsw-ance shall be maintained 1Jl the amounts (including deductible levels) and for the periods that Lender reqwres. What Lender requires pw-suant to the preceding sentences can change durmg the tean of the Loan. The msw-ance camer providing the Insw-ance shall be chosen by Borrower subject to Lender's Ilght to disapprove Borrower's choice, which right sl1all not be exercised unreasonably. Lender may reqwre 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-timecbarge for flood zone detennination and certification services and subsequent charges each time remappwgs or similar changes occw- which reasonably might affect such detenmnation or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in collilection with the reView of any flood zone detenwnation resulting from an objection by Borrower. If Borrower fuils to maintain any of the coverages described above, Lender may obtain msw-anCe coverage, at Lender's optwn and Borrower's expense. Lender is under no obligation to pw-chase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or ffilght not protect Borrower, Borrower's eqwty in the Property, or the contents of the Property, agamst any risk, hazard or liability and Dllght proVide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insw-ance coverage so obtained might significantly exceed the cost of msw-ance tlmt Borrower could have obtained Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secw-ed by this Security Instrument. These amounts shall bear mterest at the Note rate from the date of disbUrsement and shall be payable, Witll such interest, upon notice from Lender to Borrower requesting payment. All msw-ance· policies reqwred by Lender and renewals of such policies shall be subject to Lender's right to disapprove such poliçies, shall include a standard mortgage clause, and shall name Lender as mortgagee atid/or as an additional loss payee. Lender shall have the nght to hold the policies and renewal certificates. If Lender requìres, Borrower shall promptly give to Lender all receipts of p81d premiwns and renewal notices. If Borrower obtams 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 evént of loss, Borrower shall give prompt notice to the Insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in wrlling, any msurance proceeds, whether or not the underlying UlSurance was required by Lender, shall be applied to restoration or repair of the Property. if the restoration or rep81r IS ec01lOnucally feasible and Lender's security is not lessened. DurlOg such repllJI and restoration period, Lender shallllave the rIght to hold such lnsw-ance proceeds uutil 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 18 completed. Unless 811 agreement ís made 10 writing or Applicable Law requires interest to be paid on such insurance proceeds. Lender shall not be required to pay Borrower any interest or earmngs on such proceeds. Fees for public adjusters, or other third paxties, retained by Borrower shall not be p81d out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's 8ecunty would be lessened, the insw-ance proceeds shall be applied to .. -6(WY) (0005) C j) Page CJ 01 15 ,~ '/ Form 3051 1/01 :272: TIBBETTS 8010034050 __ ""'I'I7"L 03~S495 000691. the sums secured by tlùs SeculIty Instrument, whether or not then due, WIth the excess, if any, paId to Borrow.er. Such insurance proceeds shall be applied in the order provided for m Section 2. If Borrower abandons the Property, Lender may file, negobate 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 offered to settle a claun, then Lender may negotiate and settle the claim. Thè 30-day period will begin when the notice IS given. In either event, or if Lender acquires the Property WIder Section 22 or otherwISe, Borrower hereby asSigns to Lender (a) Borrower's rights to aw 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, msofar 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 prmcipal 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 uureasonably 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 Property to deterIorate or comnut waste on the Property, Whether or not Borrower IS residing in the Property, Borrower shall mamtain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it 18 detenmned 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 condenulation proceeds are pald m 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 repalrs and restoratIon in a s.ingle payment or in a senes of progress payments as the work is completed. If the iDsurance or condemnatIon proceeds are not sufficient to repair or restore the Property, Borrower IS not relieved of Borrower'li obligation for tlle completion of such repaIr or restoratIoIL Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may Inspect the mtenor of the ímprovements on the Property. Lender shall give Borrower notice at the time of or pnor to such an interior inspection specifYing such reasonable cause. 8. Borrower's Loan Application, Borrower shall be 1ß 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, 1D1sleading, or inaccurate 1Dfonnation or statements to Lender (or failed to provide Lender With material information) in connection With the Loan. Material representabons l1lClude, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's, Interest in the Property and Rights Under Ihls Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in tlùs Security Instrument, (b) there IS a legal proceeding tllat might sigruficantly affect Lender's mterest in the Property andlor rIghts under this Security Instrument (such asa proceeding in bankrupt.cy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain pI10nty over t1ùs Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned tbe Property, then Lender may do and pay for whatever IS reasonable or appropriate to protect Lender's Interest m the Property and nghts under this SecurIty Instrument, 1nCluding protectIng and/or assessing the value of the Property, and liecurmg and/or repauing the Property. Lender's actions can lIlClude, but are not linuted to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appear1llg in court; and (c) paying reasonable ~ -6(WY) (0006) Page 7 of 15 !JiRIS@) ~. Form 3051 1/01 1272: TIBBBTTS 8010034050 '- O~Z84:95 000692 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position m II bankruptcy proceeding. Securing the Property ltlcludes, but is not limited to, entenng the Property to make repairs, change locks, replace or board up doors and windows, ,drain water iÌom pipes, eJimlllate budding or other code violations or dangerous conditions, and have utiliHes turned on or off. Although Lender may take acb.on 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 tor not taking any or all actJ.ons authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and sl1all be payable, With such mterest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisioD8 of the lease. If Borrower acqUlIes fee title to the Property, the leasehold and the fee title sball not merge unless Lender agrees to the merger in wnting. 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 Insurance in effect. If, for any reason, I1le Mortgage Insurance coverage required by Lender ceases to be avaùable from the mortgage msurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiwns for Mortgage Insurance, Borrower shall pay the premiums required to obtam coverage substantìa11y equivalent to the Mortgage Insurance prevIOusly m e.ftèct, at a cost substantially eqUlvalent to the cost to Borrower of the Mortgage Insurance prevIOusly in effect, iÌom an alternate mortgage msurer selected by Lender. If substantially eqwvalent 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 m effect. Lender will accept, use and retam tllese payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwlfhstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any Interest or earnings on such loss reserve. Lender can no langer require lass reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender reqwres) provided by an msurer selected by Lender agal11 becomes available, is obtained, and Lender reqUlIes separately designated payments toward the premiums for Martgage h1Surance. 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 Martgage Iusurance, Borrower shall pay the premiums reqwred to mamtain Mortgage Insurance in effect, or to provide a non-refundable loss reserve; until Lender's requirement for Mortgage Insurance ends in accordance with any wntten agreement between Barrower and Lender providing far such tenmnation or until tenmnatJon 1B required by Applicable Law. Nothing In this Section 10 affects Borrower's obligab.on to pay mterest at the rate proVIded in the Note. Mortgage Insurance rellJ1burses Lender (or any entity that purchases the Nate) for certain losses it may lIICur If Borrower does nat repay the Loan as agreed. Barrower 18 not a party to the Mortgage Insurance. Mortgage Ì11Surers evaluate their tatal risk on all such insurance in force from time ta time, and may enter mto agreements with other parties that share or modify their fisk, or reduce losses. 'These agreements are on terms and conditians that are satisfactory to the martgage msurer and the other party (or parties) to these agreements. These agreements may reqwre the mortgage insurer to make payments using any source of funds that the mortgage IDsurer may bave available (which may lllClude funds obtained fram Mortgage Insurance prenu~). As a result of these agreements, Lender, any purchaser .of the Note, another insurer, any remsurer, any other entity, or any affiliate .of any of tl16 foregoing, may receive (directly or indirectly) amaunts that denve from (or might be cbaractenzed as) a portion of Borrower's payments far Mortgage Insurance, m exchange far Sllaring or modifying the mortgage insurer's risk, .or reducmg losses. If such agreement provides that an affiliate of Lender takes II share of tlle insurer's nsk In exchange for a share of the prenuums paid to the u1Surer, the arrangement is often termed "captive remsurance. II Further: (a) Any stich agreements will not affect the am.ounts that Borr.ower has agreed t.o pay for M.ortgage Insurance, .or any .other terms of ,the Loan. Such agreements will n.ot increase the am.ount B.orr.ower will .owe f.or Mortgage Insurance, and they will n.ot entitle B.orr.ower t.o any refund, cD -6(WY) (0005) (J Pago 8 of 15 ~ Form 3051 1/01 1272: TIBBETTS 8010034050 000693 Og2B49S (b) Any such agreements will not affect the rights Bon-ower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law, These rights may include, the right to receive certain discl()Sures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancelJatioD or termination. 11, Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assIgned to and sha1l,be plUd to Lender. Ii 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'8 8ecurity IS not lessened. During such repair and restoration period, Lender shall have the nght to hold such Misce1laneous 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 repalls and restoratJ.on in a single disbursement or In a series of progress paymenf8 as the work IS completed. Unless an agreement is made in wnting 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 econ01Dlcally 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 slJall 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 s]Jall 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 otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by Ihe fbllowmg fraction: (a) the tolAl amoWlt of the sums secured immediately before the partial taking, destruction, or loss ~ 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 plUd 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 partíal taking, destruction, or loss in value, unless Borrower and Lender otherwIse agree In writing, the Miscellaneous Proceeds shan be applied to the sums secured by t1ús 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 Opposmg 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 authonzed to collect and apply the Miscellaneous Proceeds eIther to restoration or repair of the Property or to the sums secured by this Securi.ty Instrument, whether or not then due. ·OpPOSIng Party" means the third party that owes Borrower MisceUaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be m default jf any action or proceeding, whether civIl or cnminal, is begWl that, In Lender's judgment, could result in forfeiture of the Property or other mater.ial impainnent of Lender's lnterest ill the Property or nghf8 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 oilier material impairment of Lender's interest in the Property or nghf8 under this Security Instrument. The proceeds of any award or claim for damages that are attribulAble to the impainnent of Lender's Interest in the Property are hereby assJglled and shall be paid to Lender, A1l Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied 111 the order provided for in Section 2. .. ~(WY) (0005) ~ Page gof 15 '~ Fonn 3051 1/01 1272: TIBBETTS 8010034050 --..-- 0328495 OOÓ694 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 hlStrwnent 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 proceedffigs aga1D8t any Successor in Interest of Borrower or to refuse to extend tune for payment or otherwise modify amortiZation of ale S\UIlS secured by this Security Instrument 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 mcluding, without linutatíon, Lender's acceptance of payment:¡ from tlùrd persons, entities or Successors In Interest of Borrower or in amoWits less than the amoWit then due, shall not be a waiver of or preclude the exerCISe of any nght or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound, Borrower covenants and agrees that Borrower's obligatioils and liability shall be joint and several. However, any Borrower who co-signs· this Secunty Instrument but does not execute the Note (a "co-sIgner"): (a) is co-sigmng this Security Instrument only to mortgage, grant and convey the co-sIgner's mterest in the Property under the tenns of tlús Security Instrument; (b) is not personally obligated to pay the sums secured by tlús Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any acconunodations WIth regard to the tenns of t1ùs Security Instrument or the Note WIthout the co-signer's consent. Subject to the provISions of Section 18, any Successor m Interest of Borrower who assumes Borrower's obligations under this SecurIty Instrument in writing, and IS approved by Lender, shall obtain all of Borrower's ngbts and benefits under tlús SecurIty Instrument. Borrower shan not be released from Borrower's obligatiollS and liability Wider this Secunty hlStrument wùess Lemler agrees to such release m writing. The covenants and agreements of this Security hlStrument shall bind (except as provIded in Sectlon 20) and benefit the successors and assigns of Lender. 14, Loan Charges, Lender may charge Borrower fees for serVIces performed 1U connection WIth Borrower's default, for the purpose of protecting Lender's mterest 1U the Property and rights under tlús Security Instrument, mcluding, but not limited to, attorneys' fees, property Inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrwnent to charge a spectfic 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 Instnunent or by Applicable Law. If the Loan is subject to a law which sets maxÍ1num loan charges, and that law is finally interpreted so tIlat the mterest or other loan charges collected or to be collected in connection with the Loan exceed the pel'Dllt,ted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennitted limit; and (b) auy sums already collected from Borrower which exceeded pennitted limits will be refunded to Borrower. Lender may cboose to make this refund by reducing the pnncipal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reductJ.on 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 auy such refund made by direct payment to Borrower will constItute a waiver of any lIght of actJ.on Borrower IDlght have arising out of such overcharge. 15. Notices, All notices given by Borrower or Lender in connection with this Secunty Instrument must be m wnting. Any notice to Borrower in connection with this Secunty Instrwnent shall be deemed to have been given to Borrower when mailed by first cJass mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall cowlÏtute notice to all Borrowers unless Applicable Law expressly requires otherwIse. The notlce address shall be the Property Address unless Borrower bas 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 reportlng Borrower's change of address, then Borrower shall only report a cllllnge of address tluough that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be gIven by delivermg It or by mailing 1t by first class maIl to Lender's address stated herein. unless Lender has desIgnated another address by noUce to Borrower, Any notice in. connectJ.on. 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 Instrwnent is also requlled under Applicable Law, the Applicable Law requirement wìll satisfy the corresponding reqUJrement under this Security Instrument. . -6(WY) (0005) (!) pago 1001 16 Inlll.~' ;¡f, Form 3051 1/01 ;2721 TIBBETTS 8010034050 ~ O~~S495 000695 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the junsdiction In which the Property is located. All rights and obligations contamed In this Secunty Instrument are subject to any reqwrements and linutations of Applicable Law. Applicable Law oogllt explicitly or implicitly allow the parties to agree by contract or it Imght be sIlent, but such sIlence shall uot be construed as a prohibition agamst agreement by contract. In tbe event that any provIsion or clause of this SecurIty Instrument or the Note conflicts WIth Applicable Law, such conflict shall not affect other provISions of this Security Instrument or the Note which can be given effect without the conflicting provISion. As used ill this Security Instnunent: (a) words of the masculine gender shall mean and Include corresponding neuter words or words of the femimne gender; (b) words in the singuJar 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, Borrower's Copy. 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, A8 used ín this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, Including, but not linuted to, those beneficIal interests transferred in a bond for deed, contract for deed, insta1bnent sales contract or escrow agreement, the mtent of which IS the transfer of title by Borrower at a future date to a purchaser. If aU or any part of the Property or any Interest ill 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 pnor wntten consen1~ Lender may reqUire immediate payment in fu.II of all sums secured by this Secunty Instrument. However, this option sl1alJ. not be exercised by Lender if such exercISe IS prohibited by Applicable Law. If Lender exerclSes 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 gi.ven in acco:rdance with Section 15 wJ.thin which Borrower must pay all sums secured by this Security Instrument, If Borrower fails to pay these sums prior to the expIration of tllis period, Lender may invoke any remedies permitted by this Security Instrument WithOut further notice or demand on Borrower. 19. Borrower's Right to Reinst1îte After Acceleration, If Borrower meets certam conditions, Borrower shall have the nght t.o have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of fue Property pursuant to any power of sale contained in this Secunty Instrument; (b) such other penod as Applicable Law rwght specIfY for the tenmnal10n of Borrower's nght to remstate; or (c) entry of a judgment enforcmg this Security Instrument. Those conditions are that Borrower: (a) pays Lender all SUInS which then would be due wtder 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, lIlCluding, but not linuted to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's mterest in the Property and ngbts under this Security Instrument; 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, sha1l continue unchanged. Lender may require tbat Borrower pay such reinstatement sums and expenses in one or more of the fo1lowing foDIlS, 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. Upon reinstatement by Borrower, this Security Instrument and obligatiol1S secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to remstate shall not apply in the case of acceleration wtder Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Secunty Instrument) can be sold one or more times Without pnor notice to Borrower. A sale might result in a change in the entity (known as the "Loan SerVlcer") that collects Penodic Payments due \lnder the Note and this Security Instrwnent and perfoDIlS other mortgage loan servicing obligations under the Note, this Sec\1I1ty Instrument, and Applicable Law. There also míght. be one or more changes of the Loan Servlcer 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 wl1l state 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 _ -6(WY) (0006) e Page 11 Qf 15 Ini\la~ yf Form 3051 1/01 :272: TIBBETTS 8010034050 r1. 03264:95 1000696 notice of transfer of servlc111g. If the Note is sold and thereafter the Loan is serviced by a Loan Servlcer other than the pw-chaser of the Note, the mortgage loan servic111g obligalJons to Borrower will remain With the Loan Sèrvlcer or be transferred to a SUCCessor Loan Servicer and are not assumed by the Note purchaser unless otherwIse provided by the Note purchaser. Neither Borrower nor Lender may commence, Join, or be jomed to any judicial action (as eIther an mdivIduallitigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provJSion of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given m compliance with the reqwrements 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 tune period wlùch must elapse before certam action can be taken, that tune penod wIll be deemed to be reasonable for pwposes of this paragraph. The notice of acceleration and opportumty to cure given to Borrower pursuant to Section 22 and the notice of acceleration glven to Borrower pursuant to Section 18 sl}all be deemed to satisfy the notice and opportunIty to take corrective action provisioJlS of this Section 20. 21. Hazardous Substances, As used in this Section 21: (a) "Hazardous Substances" are tllOSe substances defined as toXIC or hazardous substances, pollutants, or wastes by Enviromnental Law and the folloWIng substances: gasoline, kerosene, other flammable or toxic petrolewn products, toxic pesf1CIdes and herbicides, volatile solvents, materials conta1lling asbestos or formaldehyde, and radioactive materIals; (b) "EnvIromnental Law" means federal1aws and laws of the Jurisdiction where the Property IS located that relate to health, safety or envIronmental protection; (c) "EnVIronmental Cleanup" l1lcludes any respoJlSe action, remedial action, or removal action, as defined in EnvIronmental Law; and (d) an "Enviromnental Condition" means a condition that can cause, contribute to, or otherwise trigger an Enviromnental Cleanup. Borrower shall not cause or permit 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 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. The preceding two sentences shall not ,apply t.o the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to nonna} resIdentIal uses and to maintenance of the Property (including, but not linuted to, hazardous substances m consumer products). Borrower shall promptly give Lender wntten notIce of (a) any Investigation, clann, demand, lawsuít or other action by any governmental or regulatory agency or pnvate party mvolving the Property and any Hazardous Substance· or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, lIlcluding but not !inuted to, any spIlling, leaking, discharge, release or tlueat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance wlùch adversely affects the value of the Property. If Borrower learns, or is notified by any govenunentaI or regulatory authonty, or any pÜvate party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower sball promptJy take all necessary remedial actIons in accordai1ce WIth Enviromnental Law. Nothing herein shall create any obligation on Lender for an Enviromnental Cleanup. _ -6(WY) (0005) GÐ Paga 120115 Inllla~ ~. Form 3051 1/01 :272; TIBBETTS 8010034050 0326495 000697 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22, Acceleration; Remedies, Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (bllt not prior to acceleration under Section 18 unless Applicable Law provides otherwise). Tile 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 Borrower, by which the default must be cured; and (d) that failure to cure tbe default on or· before the date specified in the notice may resuJt in acceleration of the sums secured by this Security Instrument and sale or the Property. The notice shall further Inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default, or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at Its option may reqllire immediate payment in full of all sums secured by thJs Security Instrument without further demand and may Invoke the power of sale and any other remedies permitted by Applicable Law. Lender 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 the person 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 Property shaJl be sold in the manner prescribed by AppJicabJe 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 expenses of the sale, including, but not limited to, reasonable attOrneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release, Upon payment of aU sums secured by this Secul1ty Instrwnent, Lender shall release this Secwity Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasmg this SecurIty Instrwnent, but only If the fee is paid to a third party for services rendered and the charging of the fee IS pemùtted uIIder Applicable Law. 24, Waivers, Borrower releases and WaIves all rights under and by Virtue of the homestead exemption laws of Wyoming. .. -6(WY) (OOOS) !II Page 13 of 15 Inlt~ ~, Form 3051 1/01 12721 TIBBETTS 8010034050 0228l1:95 000698 BY S¡GNING BELOW, Borrower accepts and agrees to the terms and covenants contamed III this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: -Æark ;1 W; lbi&.r" ~ß#r~ HN E TIBBETTS (Seal) -Borrower Ittl{)¡r . but ~-. -- tLrJ!¡;9r~eal) III ELL... TISSBns __"" (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower C-6(WY) (0006) !III Page 140115 Form 3051 1/01 :272: TIBBETTS 8010034050 'O~21SlJ:95 STATE OF ~ Maine Waldo by The foregoing Instrument was acknowledged before me this 'Jí;l1 V1 Eli hbe 1ff My Commission Expnes: MARK J. WILBUR Notary Public, Maine My Commissioí1 Expires October 1, 2011 G -6(WY) (0005) ~ 1272: TIBBETTS Cil1d 000699 ~ 4fP'¡ ¡;t{¡ cllR./le IVI,7! 6 be Iff" County S8: /0; bloð7. ?U ..... ,././ .....,....".. ,// .. / ...,/ /.../.. ~......-.,"-.- .........- /// / ---? ./ .-/ /' ." ,,:......- -- ' ...../~,./ Notary Public Page 15 of 15 ,......) IJ{\.~ ì."' :' .'., ..':.:,::>';.,...~... '~~~.' .. , ," ~... . :.: ,'i ',¡j " .' ~ n , '. ':t ... . . . ~ ~ " Form 3051 1/01 8010034050 09Z8~95 Exhibit A File 6010715162 Description 000700 The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is described as follows: Lot 9 of Commissary Ranch Unit C-1, Lincoln County, Wyoming as described on the official plat filed on February 20, 1981 as instrument No, 553224 of the records of the Lincoln County Clerk, 0928495 000701 I SECOND HOME RIDER THIS SECOND HOME RIDER is made this 13th day of A ril 2007 and is incorporated into and shall be deemed to amend and suppfement 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 CHASR B~ USA, N,A. (the "Lender") o,f the same date and covering the Property described in the Security Instrument (the ·Property"), which is lObated at: 1336 EAGLE VIEW RD, KEMMERER, Wyoming 83101 [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 toe 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 ahy 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. MUL TISTATE SECOND HOME RIDER - Single Family . Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ~ Form 38901/01 Page' of 2 Initials:/ I ~.365R (0411) VMP Mortgage Solutions, Inc, (800)521-7291 y //11///111/11/111/1/1/1111/11111111 :272: TIBBETTS 8010034050 O~~Stl95 000702 BY SIGNING BELOW. Borrower accepts and agrees to the tenns and provisions contal11ed In thi8 Second Home Rider. ~ F .dd?¿fff2 (s..J) ~ø.9PcJ~ ¿/.fOHN E TIBBETTS - Borrower MICHELLE M TIBBETTS . Borrower (Seal) - Borrower (Seal) - Borrower (Seal) . Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower Gt365R (0011) Page 2 of 2 Form 3890 1/01 1272: TIBBETTS 8010034050 03Z84:95 000703 ~ ..~ c~c (FRI) 4.13' 07 16:23/ST, 16:22/NO. 4861649055 P 1 8010034050 ADJUSTABLE RATE RIDER (USOR Index· Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 13th day of April 2007 , and is incorporated into and shall be deemed' to amend and supp.lement 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 Ràte Note (the "Note") to '. CHASE BANK USA, N.A. (the "Lender") a' National Association' organized and existing under the laws of United States of the same date and covering the property described in the Security Instrument and located at: 1336 EAGLE VIEW RD, KEMMERER, WYOMING 83101 Il'roperty Addru'l THE' NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further Covenant and agree a.s follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 10.125 MULTISTATE LlSOR ARM RIDER TMQ·6733 (11/061 Page 1 of 3 @ , q.. O~Z~495 000704 FROM CMMC (FR!) 4.13' 07 16:2,3/ST, 16:22/NO. 4861649055 P 2 %. The Note provides for changes in the interest rate and the monthly payments, as follows:' 4. INTEREST RATE' AND MONTHl Y PAYMENT CHANGES (A), Change Datea The interest rate I will pay may change on the 1 st day of May 2009 , and on, that day every sixth month thereafter. Each date on which my interest rate could change Is called "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Jndex"is the average of interbank offered rates for six month U,S. dol/ar-denominated deposits in the London market ("UBOR"), as pUblished in The Wal/ Street Journal, The most recent Index figure available as of the date 45 days before each Change Date i$ called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding Six and 125/1000 percentage points (6.125 %J . to the Current Index. The Note Holder will 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(0) below, this rounded amount will be my new interest rate until 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 Change Date will not be greater than 13.125 % or Jess than 10.125 %. Thereafter, my interest r.ate will never be increased or decreased on any single Change Date by more than one percentage point(sJ (1, %) from the rate of interest.1 have been paying for the preceding six months. My interest rate will never be greater than 17,126 % and wlJ/ never be lower than 10,1 25 %. MULTISTATE UBOR ARM RIDER TMO-6733 (11/061 Page 2 of 3 (§iØ¿4 0328495 000705 FROM CMMC (FRI) 4, 13' 07 16: 23/ST, 16: 22/NQ, 486 649055 P 3 (E) Effective Datø of Changes My new interest rate will become effective on each Change Date. I wìll pay the. amount of my new monthly þayment beginning on the first monthly payment 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 information required by law to be given to me and also the title and telephone number of a person who will answer any question r may have regarding the notice. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. ~ -'i Borrower Date Borrower Date Borrower Date Borrower Date Borrower Date Borrower Data MUlTlSTATE LIBOR ARM RIDER TMO-6733 (11/06) Page 3 of 3 -,