Loading...
HomeMy WebLinkAbout929891 r"1'?(~ - _ <J ~",... Prepared by & Return to: Ray Hundley Transcontinental Title Company 4033 Tampa Road # 10 1 Oldsmar, Florida 34677 RECEIVED 5/31/2007 at 2:48 PM RECEIVING # 929891 BOOK: 660 PAGE: 129 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 0-44-5"" J/"L ....ul f- C( 2-7 217 [Space Above This Une For Recording Data] MORTGAGE MIN: 100080190065231029 -( ok\ DEFINITIONS ., fzt'/# 12-- '3GIC(-7-p'-l.-aJ- 7-(t¡. OU Words used in multiple sections of this document are defined below and o!her words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding !he usage of words used in this document are also provided in Section 16. (A) "SecuritylDstrument" means this document, which is dated MAY 21, 2007 . together with all Riders to this document. (8) "Borrower" is BRANDON V KLINGLER"', A MARRIED PERSON AS SOLE AND SB~RATE PROPERTY, JOINED BY HIS WIFE, KENDRA D KLIN~R "'~AA'I ~'f'IodDY1 ý.\<nr\~e..f\ Borrower is !he mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic RegistraUon Systems, Ioc. MERS is a separate corporation !hat is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under tbe laws of Delaware, and has an address and telephone number of P.O. Box 2026. Flint. MI 48501-2026. tel. (888) 679-MERS. (D) "Lender" is NOVAS TAR MORTGAGE, INC. n \ Lender is a CORPORATION organized and existing under the laws of UNITED STATES Lender'saddressis 6200 OAK TREE BLVD. THIRD FLOOR, INDEPENDENCE, OHIO 44131 (E) "Note" means the promissory note signed by Borrower and dated MAY 21, 2007 The Note states that Borrower owes Lender TWO HUNDRED SEVENTY - FIVE THOUSAND AND 00/100 Dollars (U.S. $ 275,000.00 ) plus interest. Borrower has promised to pay Ibis debC in regular Periødic Payments and to pay the debt in full not laler !han JUNE 1, 2037 (J!) "Property" means the property that is described below under the heading "Transfer of Rig his in the Property. " (G) "Loan" means the debc evidem:ed by the Note. plus Interest. any prepayment cbarges and late charges due under !he Note, and all sums due UDder this Security InstrumeaI, plus Uaterest. WYOMlNG-Sing e Family-Fannie MaelFredCIIe Mac UNIfORM INSTRUMENT - MERS Form 3051 1/01 Page' or 14 DocMllf ic ~ BOO-'49-1J6Z _.docmIIgic.com 0001.3C ~J~29Ef91. . (H) "roders" means all Riders to this Security Instrument that are execuled by BOlTOwer. The following Riders are to be executed by Borrower [check box as applicable : IX! Adjustable Rate Rider o Balloon Rider o 1-4 Family Rider o Condominium Rider o Planned Unit Development Rider o Biweekly Payment Rider o Second Home Rider !XI Other(s) (specify) PREPAYMENT RIDER TO SECURITY INST (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 flnal, non-appea1aWe judicial opinions. 0) "COlRIDaaity AssedaCion Dues. Fees. and Asse.SIMdU" meaas aU dues, fees. assessments and other charges that are imposed on BOlTOwer or the Property by a condominium association, homeowners association or similar organization. (K) "EIedronk FUDds Traasfer" means any transfer of funds, other than a transaction originaled by check. draft, or similar paper iDstnuDenC, wldch is iDitiated tlaro1lgh aneledrOldc terminal, telephonic Instrument. computer, or magnetic tape so as to order, inslruct. or authorize a OnanclaIlnstitution to debit or credit an account. Such term includes, but Is not limited 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 descn1led 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 Properly; (ill) conveyance in lieu of condemnatlon: or (Iv) misrepresentadoos of. or omissions as 10, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protectillg Leader against the nonpayment of. or default on. the Loan. (0) "PeriodJc Payment" means the regularly scltedaIed IIIDOIIId due for (I) prindpallJId btteresI UDder the Note. plus (ü) any amounts under Section 3 of this Security Instrument. (p) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) aJld Us implementing regulation, Regulation X (24 C.F.R. Part 3500). as they might be amended from time to lime, or any additional or successor legislation or reguJalion that governs the same subject matter. As used In this Security Instrument, "RESP A" refers to all requirements and restrictions that are bnposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken titie to the Property, whether or nol that party has assumed BOlTOwer's obDgatlons under the Note andlor this Seauity lnstntment. WYOMING-SinQIe Famlly--FIINrie Mae/Freddie Mac UNifORM INSTRUMENT - MERS Form 3051 1/01 Page 2 0' 14 DocWklg;c ~ Bf1O-6oflH36Z www.docmllgic.cøm 0~29~91.' 00013j" TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender; (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perfonmmce of Borrower's covenants and agreements under this Security Instrument and the Note. I'or this purpose, Borrower does hereby mortgage, grant and convey 10 MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS. wilh power of sale. the following described property located in the COUNTY m LINCOLN /Type of Recording Jurisdiction) [Namc of Recordblg Jurisdlclion ALL THAT CERTAIN LAND SITUATED IN THE STATE OF WY, COUNTY OF LINCOLN, CITY OF ETNA, DESCRIBED AS FOLLOWS: LOT 112, NORDIC RANCHES, DIVISION NO.8, TO THE COUNTY OF LINCOLN, STATE OF WYOMING, ACCORDING TO THE RECORDED PLAT THEREOF. which currently has the address of 27 ROAN WAY [Slreel) ETNA [Cily) . Wyoming 83118 [Zip Code ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on Ihe property. and all easements, appurtenances, and fIXtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing Is referred to in lhis Security Instrument as the "Property. H Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Insmunent. but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) lias die right: to exercise any or all of those interests. including, but not Umlted to, the right to foreclose and sell the Property; and 10 take any action required of Lender including. but not limited to, releasing and canceling this 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. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited Yclriations by jurisdiction to constitute a unifono security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment ofPrindpal, Interest. Escrow Items. Prepayment Cbarges, and Late Charges. Borrowershall pay when due the principal of. and interest on, die debt evidenced by the Note and any prepaymenl charges and late charges due ander the Note. Borrower shall also pay fwtdS for Escrow Items pursuant 10 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 tbe Note or lids SecurIty Instnuneat Is mamed to Lender unpaid, Lender may require that any or all subsequent paymenls due under the Note and this Security Inslrument be made in ODe or more of die following forms, asseleded by Leader: (a) cash; (b) money order; (c) certified check. bank check. treasurer's check or cashier's cbeck., provided any such check is drawn upon u institution whose deposils are insured by a federal agency, instrumeDtalily. or entity; or (d) Electronic: Funds Traøsfer. Payments are deemed received by Lender when received at the location designated in the Note or al such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return WYOMING-Single Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT. MERS Form 3051 1/01 Page 3 of 14 DocMagir; ~ 1KNU149-1362 _.docmIIgic.com ,.-'~<ol'\ ~Þ~Jì 'i;,l'{~",i '<.J V 1(.,) ...1 Ü .,J ...... 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 insllfficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future. but Lender is not obligated to apply such payments al the time such paymellts are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lellder may hold such unapplied funds until Borrower makes payment to bring the Loan c:arrent. If Borrower does DOl do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such fUllds will be applied to the 0IItS1aIIdiDg priadpal balance under the Note immediately prior 10 foreclosure. No offset or claim which Borrower might have IIOW or in the future against Lender shaD mieve Borrower from making payments due under the Note and this Security Instnuneat or performiag die COWDaDfS and agreemeIIIS $!!CUred by Ibis Security Instrument. 2. Application of Payments or Proceeds. Except as olherwise described in this Section 2, all payments accepled and applied by Lender shall be applied in the following order of prIority: (a) Interesl due under the Note; (b) principal due under the Note; (c) amOUßts due under Section 3. Such payments sball be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second 10 aay other amoanlS due aDder tbis Security Instrument, aad theD 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 paymeat may be applied to the 4elinqueøt paymeDl and the tale charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and 10 the exteR( d&at, each payment can be paid in full. To the exlent that any excess exists after the paymellt is applied to the full payment of one or more Periodic Paymeuts, such excess may be applied to any late charges due_ Vohmtary prepaymems sbaJI be appUed first to any prepayment charges and Ihen as described in Ihe Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not exlend 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 altain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold paymenls or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage 1Dsuranc:e premiums, If any, oraay sums payable by Borrower to Lender in liea of the payment of Mortgage Iosuranœ premiams in accordance with the provisions of Section 10. Tbese items arecaUed "Escrow Items." At originalioa or at any time during Ihe term of the Loan. Lender may require that Community Association Dues, Fees, and Assessmenls, If any. be escrowed by Borrower. aad such dues, fees and assessments shall be an Esaow ltem.BorrowersbaJI promptly f1Imishco Lender all DOIices of amoanlS to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Fands for any or all Escrow Items. Lender may waive Borrower's obligation to pay 10 Lender Funds for any or all Escrow Items at any lime. 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 10 Lender receipts evidencing such payment witIain such time period as LacIer may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenanl and agreement contained in lhis Security Instrument, as the phrase "covenanl and agreement" Is used in Sectioa 9. If Borrower Js obligated 10 pay Escrow Items directly, pursaaat 10 a waiver, and Borrower fails 10 pay the amount due for an Escrow Item. Lender may exercise its rights under Section 9 aød pay such amouDl and Borrower sball then be oblipted under Section 9 to repay 10 Lender any such amount. Lender may revoke the waiver as 10 any or aU Escrow Items al 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, thai are Ihen required under this Section 3. Lender may, al any time, collect and hold Funds in an amounl (a) sufficient to permit Lender 10 apply the Funds al the lime specified under RESPA. and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of CUFmlt data and reasonable esUm31es of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. 00013:7 WYOMING-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT - MERS Form 3051 1/01 Page 4 of 14 DocMIIf 1c ~ -.¡uf .J; 62 www.~cam · 0~Z:9aS:L 00013:~ The Funds shall be held in an inslitulion whose deposits are insured by a federal agency. instrumentality. or entity (Including Lender, If Lender Is an inslilulion whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later thm the lime specified under RESPA. Lender shall not charge Borrower for holding and applying (be Funds, annually analyzing the escrow account. or verifying the Escrow Items. unless Lender pays Borrower interest on (be 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 FUJJds. Lender shall not be required to pay Borrower aoy interest or earnings on the Funds. Borrower and Lender can agree In writing, however, dlat interest shall be paid on the Funds. Lender shall give to Borrower, without charge. an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA. Lender $baD 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 monthly payments. If there Is a deficiency 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 deficiency in accordance with RESP A, but in no more t~n 12 monthly payments. I Upon payment in full of all sums secured by this Security Instrument, Lender shaJJ promptly refund to Borro'fer any Funds held by Lender. I 4. Charges; Ueos.. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property wlricb can attain priority over this Security Instrument, leasehold payments or ground rents on ~he Property, If any, and Community Association Dues, Fees, and Assessments, if any. To the extentlhat Ihese it. are Escrow Items, Borrower $ball pay them in the manner provided ill Section 3. I Borrower shaD promptly discharge any Hen wlrich has priority over this Security Instrument unless Borrowf.r: (a) agrees In wriClug 10 the payment of the obllgatlon secured by the lien in a manner acceptable to Lender. but 0IflY so long as Borrower is performing such agreement: (b) contests the lien in good faith by, or defends agai~t enforcement of the lien in, legal proceedings which In Lender's opinion operate to prevent tbe enforcement or the lien whUe Ihose proceedings are pending, but only untU such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory 10 Lender subordinating the lien to this Security Instrument. If Len1er determines Ihat any part of the Property is subject to a lien wJùch can attain priority over this Security InsIrum~t, Lender may give Borrower a notice Identifying the lien. Within 10 days of the date on wlúcb thai noc1œ is gi~, Borrower shall satisfy the lien or lake one or more of the actions sel forlh above in this Section 4. I Lender may require Borrower to pay a one-time charge for a real estate tax verißcalion and/or rep0l1ing serv¡Jce used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existiag or hereafter erected 011 t e Property insured against loss by fire, hazards included within the term "extended coverage. II and any other haza~. s including. but not limited to, earthquakes and floods, for which Lender requires Insurance. This Insurance shall e maintained in tbe amounts (including deductible levels) and for the periods that Lender requires. What Len r requires pursuant to the preceding sentences can change duriDg the lerm of the Loan. The insurance carrier provi g the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right s I DOt be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan. either: (a) a 0 e- time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for Dood e detennination and certification services and subsequent charges each time remappiags 01." similar cbaBgesocœrwld reasonably might aß'ect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Maaagemenl Agency ÙI CODIIeCtion witb the review of any Dood zo e determination resulting from an objection by Borrower. H Borrower falis to maintain any or the cowrages described above. Lender may ob1aia insuraace coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amo t of coverage. Therefore. such coverage shaD cover Lender, but might or might not protect Borrower, Borrowe 's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide er or lesser coverage than was previously in effect. Borrower acknowledges thai the cost of the insurance coverage obtained might sigDiflCantIy exceed the cost of insurance Ihat Borrower could have obtained. Any amounts disburs d WYOMING-SIngle Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT· MERS Fonn 3051 1/01 Page 5 of 14 Oot:IIøgic ~ BOO-H9-, 'Z _.~ "\«,'\';].>(:¡\~C -,i \"j...J (f...¡.J '...1...... OØ01.34 by Lender under this Section 5 shall become additional debt of Borrower secured by tlùs Security Instrument. These amounts shall bear Interest at the Note rate from the date of disbursement and shall be payable. with such Interest. upon noUce from Lender to Borrower requesting payment. AU insurance policies required by Lender aDd renewals of such policies shall be subject to Lender's righlto disapprove such policies. shan 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 certißcales. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If BOrrower obtains any fonn of insurance coverage. not olherwise required by Lender. for damage to. or destruction of. the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptJy 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. Duing such repair aocl restoration period, Lender shaH have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work bas been completed to Lender's satisfaction. provided that such inspection sbaU be undertaken prompIIy. Lender may disburse proceeds for the repairs aod restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made ia writiag or Applicable Law requires interest to be paid OD such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proaeds. Fees for pubIk a~, orotber tbird parties. retained by Borrower sball DOt be paid oat of tbe iasuranœ proceeds aad sball be die sole obI.igaIioa of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with the 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, Leoder may file. negotiate and settle any available insurance claim aDd related maUers. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has otTered to settle a claim, then Lender may negotiate and seIde !he claim. The 30-day period will begin when the notice is given. In either event, or If Lender acquires the Property under Section 22 or otheawlse, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds In an amount Dot 10 exceed the amounts unpaid under the Note or this Security Instrument. and (b) any other of Borrower's rigbls (other than the right to any refund of unearned premiums paid by Borrower) under ail 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 oDe year after the date of occupancy, unless Lender otherwise agrees in writing. which consent shall not be unreasonably withheld, or unless extenuating circumstances exist wlùch are beyond Borrower's CODfroI. 7. Preservation, Maintenance and Protection of the Property; Jaspections. Borrower sball not destroy. damage or impair the Property, allow tbe Property to deteriorate or commit waste oa the Property. Whedtea- or JIOt Borrower is residing in the Property. Borrower shall maintaio (he Property in order to prevent the Property from deterIondog or decrnsing ia value due to its c:oncIitiea. UøIess it is determined pursuant to Section 5 tbat repair or restoration Is not eœøomically feasible, Borrower sIIaIJ proIDpIIy repair the Property If damaged to avoid farther deterioraUoa or damage. If iDSurance or condemnation proceeds are paid in connectioo with damage 10. or the taking of, die Property. Boaower sIIaII be responsible for repaJriag or teskK'-g the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoralion in a single payment or in a series of progress payments as the work Is completed. If the illSUlilJtce or condemnation proceeds are Dol sufficienl to repair or restore tbe Property. Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. WYOMING-SIngle Family-Fannie MaeIFreddle Mac UNIFORM INSTRUMENT· MERS Form 3051 1/01 Page 6 or 14 DocMaglc ~ 1KJO.I .....,JSz WWIIII.docmlIgIc.œm d~298r~:.:. OOO:1~JS Lender or its agent may make reasonable entries upon and inspeclions of the Property. If it bas reasonable cause, Lender may inspecl the inlerior of Ihe improvements on Ibe Properly. Lender shall give Borrower noCice at Ibe time of or prior to such an interior inspection specifying sucb reasonable cause. 8. Borrower's Loan AppUcation. Borrower shall be In default if, during the Loan application process. Borrower or any persons or entities acling 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 wllb the Loan. Material representations include, but are not limited to. represeøcations concerning Borrower's occupancy of tbe Property as Borrower's prindpal residence. 9. Protection of Lender's Interest in the Property and Rights VDder this SecurIty Instrument. If (a) Borrower fails to perform the covenants and agreements conlalned in tbis Security Inslmment, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under Ibis Securlly Instrument (such as a proceeding in bankruptcy, probate. for condemnation or forfeilure. for enforcement of alien which may atlain priority over this Securily 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 protecl 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 Ibe Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Securily Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights UJJder this Security lDstrument, Including Its secured posiCion in a bankruptcy proceeding. Securing Ibe Property includes, but is not limited to, enlerlng 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 ulilities tumed on or off. Altbough 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 tbat Lender incurs DO liabfUty for not taking any or aD aclionsautborized under this Section 9. Any amounts disbursed by Lender under ibis 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 dlsbursemeut and shaD be payable. with such interest, upon notice from Lender to Borrower requesting payment. If this Security Inscnunent is on a leasehold. Borrower sball comply with all the provisions of the lease. Borrower shall not surrender the leasehold estate and interests bereiD conveyed or termiDate or cancellhe ground lease. Borrower shaD not, withoul the express written COßSeDt or Leader. alter or amend the ground lease. If Borrower acquires fee title to Ibe Property, the leasehold and the fee IIde shaIJ DOt merge unless Lender agrees to the merger in writing. 10. Mortgage Insuranœ. If Lender required Mortgage Insur.mceas a condition of making the Loan. Borrower shall pay the premiums required to mainlain 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 shaII pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effecl. at a cost substantially equivalent 10 the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. IfsubstanliaUy equivalent Mortgage Insurance coverage is not available. Borrower shail 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 wiD accepl. use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Imurance. Such loss reserve shall be non-refundable, nolWitbstanding the fact that the Loan Is ultimately paid in full. and Lender shan not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selecled by Lender again becomes available. Is obtained, and Lender requires separately designated paymenls toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designaled payments toward the premiums for Mortgage Insurance, Borrower shaD pay the premiums required 10 maintain MOI1gage 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 affecls Borrower's obDgaüoo to pay iøterest atlhe rate provided in the Note. WYOMING-Single Famlly--Fannie MaelFreddle Mac UNIFORM INSTRUMENT. MERS Form 3051 1'01 Page 1 of 14 OocIIItJgic ~ .xuuø.1J1J2 --døcmllglc.- '\ 'L'\ "]:I ~Jì ~,,;C ',. ldl....¡ tG., .J '-J¡ J .... 000136 Mortgage Insurance reimburses Lender (or any entity tbat purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a pal1y to the Mortgage Insurance. Mortgage insurers evaluate their tolal risk on aU such insurance in force from time to lime. and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage Insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage Insurer may have available (which may include funds obtained Iiom Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of tbe Note, another insurer, any reinsurer, any other entity, or any affiliate of any of tbe 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 exebange for sharing or modifying the mortgage insurer's risk, or redudng losses. If such agreement provides that an afftliate of Lender takes a share of the iDSUrer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has 88reed to pay for Mortgage Insurance, or any other tenus oCtile Loan. Such agreemems will not increase the amøuøt BotTøwa- will owe for Mortgage Insurance, and they will DOt entide Borrower to any refund. (b) Any such agreements will not affect the rights Bornwer lias - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any otber law. These ripts may iødIIde tile ript to receive certain disclosures, to request and obtain canœlladoo of the Mortsage Insurance, to have the Mortgage InsuranœtermioatedautomatkaDy. andIortenaiwea råuDdof any Mortpøelasuraøœ~ that were Ußearned at the time of such cancellation or termination. n. Assignment of MisteDaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous ProceedsshaU 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 opportunity to inspect sueb Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be underlakeo 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 u agreement is made in writing or Applicable Law requires interest to be paid on sueb Miscellaneous Proceeds, Lender shaD not be required to pay Borrower any interest or earnings on sucb Miscellaneous Proceeds_ If the restoration or repair is nOl economica11y feasible or Lender's security would be lessened. the Miscellaneous Proceeds sball be applied to the sums secured by tbis Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Sucb Miscellaneous Proceeds shall be appUed 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 nOl then due, with the excess, if uy, paid to Borrower. In the event of a partial taking. destruction, or loss in value of the Property in whicb the fair market value of tbe Property immediately before the partial taking, destruction, or loss In value is equal to or greater than the amount of the sums secured by tbis Security Instrument immediately before the partialtaldng, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduœd by the amount of the MisceJJaneous Proceeds multiplied by the following fraction: (a) the total amount of tbe sums secured immediately before tile partial taking, destruction, or loss in value divided by (b) the fair market value of the Property ÍlDlllediateIy before the partial tating. 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, destndion. or loss ia value is less thu the amount ollbe sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by tbis 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 defmed in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to WYOMING-SIngle Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT _ MERS Form 3051 1/01 Page 8 of 14 OocNIIIgic ~ _9-1362 www.døcmagic.com - '" '''':Jì. é{".) r . ,.. " tl....:;·' ,-".... ". '; , U'4. ~:. "...J~ 000137 Lender within 30 days after the date the notice is given, Lender is authorized to coUect and apply the Miscellaneous Proceeds 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 (bat owes Borrower MlsceIIaneous 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 Impairment 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 o(ber material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages Ibat are attributable to the impairment oCLender'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 tbis Security Instnunent granted by Lender to Borrower or any Suc:œssor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shaU not be required to commence proceedings against any Successor In Interest of Borrower or to refuse 10 extend time Cor payment or otherwise modify amorlizaüoD of the sums secured by this Security Instrument by reason of any demand made by the origina' Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right Of remedy including, without Umitalion. Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several LiabUity; 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 this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Inslnlment; (b) is not personaJly obligated 10 pay the sums secured by this Security Instrument; and (c) agrees thai Lender and any o(ber Borrower can agree to extend, modify, forbear or make any accommodations with regard to the lerms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing. and is approved by Lender. shall obtain all of Borrower's rights and benefits under this Security Instnunent. Borrower shaD not be released from Borrower's obligations and liability under this Security Instnunent unless Lender agrees to sucll release In writing. The covenants and agreements of this Security Instrument sbaU bind (except as provided in Section 20) and beaetìt the saccessors and assigøs or Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection wilh Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including. but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees,the absence of express authority in this Security Instrument to charge a specific fee to Borrower shaD not be construed as a prohibiüon on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by AppUcable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be coUected In COIIßection with the Loan exceed the permitted limits, then: (a) any such loan charge shan be reduced by the amount necessary to reduce tbe cbarge to the permitted limit; and (b) any sums already coDeded from Borrower which exceeded permUted limits will be reCunded to Borrower. Lender may choose to make this refund by reducing the principal owed IUlder the Note or by making a direct payment to Borrower. If a refund reduces principal, the reductio. will be treated as a partia1 prepaymeot witbout any prepayment charge (whether or not a prepayment cbarge is provided for under (be 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 oul of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Seauity Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to WYOMING--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT· MERS Form 3051 1/01 Page 9 0' 14 OocMiIIfIic ÐR2Imœ 1ItJØ.64,.t.1Bl _.docmIIgIc.com _ .~-. t' } ....: , ···.,;,·þ'd¡.",/··'" ',' V~J~·I.JV-" ~ OOO:1.3t~', Borrower when mailed by first class mail or when actually deUvered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to aU Borrowers unless AppUcable Law expressly requires o(berwlse. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by nollee to Lender. Borrower shall promptly ootify Lender of Borrower's change of address. If Lender spedfies a procedure for reporting Borrower' 5 change of address, tbea Borrower sball only report a change of address through (bat specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice 10 Lender shall be given by delivering it or by mailing it by first class mail to Lender's address scated Iterein anfess Lender has designaIed aaodJer address by aotice to Borrower. AIry notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any noUce required by this Security Instrument is also required ·1UKIer AppUcable Law. the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16, Governing Law; SeverabiHty; Rules of Construction. This Security Instnlment shall be governed by federal law and the law of the jurisdiction In which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Appncable Law. Applicable Law might expncltly or implicitly anow (be parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event tbat any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such confUct sball not affect other provisioDS of this Security Instrument or the Note wbich can be given effect without the coøDidiag provision. As used in this Security Instrument: (a>, words of the masculine gender shall mean and include corresponding neater words 01' words of the feminine gender; (b) words in the singular shall mean and Include the plural and vice versa; and (c) (be word "may" gives sole discretion without any obligation to take any action. 11. BoI'I'U\ftr's Copy. Borrower shaD be giveø ODe œpy oftheNoIe and of this Seauity Iosnwneol. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18. "Interest in (be Property" meaDS 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, (be intent of which is (be transfer of title by Borrower at a future date to a purchaser. If all or any part of (be Property or any Interest in the Property Is sold or transferred (or if Borrower is not a natural person and a bene6clallnterest 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 dace the AOtice is given in accordance with Section 15 within which Borrower must pay aU sums secured by this Security Instrument. If Borrower fails to pay (bese sums prior to (be expiraUoD of this period, Lender may invoke any remedies permitted by this Sec:urlty lutrument without further øotiœ «demand on Borrower. 19. Borrower's IUJht to Reinstate After Acceleration. If Borrower meets certain conditions. Borrower sball have the rigbt to have enforcement of this Security Instrument discontinued at any time prior to (be earliest of: (a) five days before sale of (be Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security IDStrument and (be Note as if no acceleration bad occurred; (b) cures any default of any other covenants or agreements; (c) pays aU expenses iDamed in eaforclng this Security Instrument. indading. but not limited 10. reasoaable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security 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. shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, asselected by Lender: (a) cash; (b) money order; (c) certifted check. bank check, treasurer's check or casbier's check, provided any sucb 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 Secmity Instroment and obIigatioDS WYOMING-·SinQle Famlly-Famie MaelFreddie Mac UNIFORM INSTRUMENT - MERS Form 3051 1/0f Page 10 of 14 OøcMaf1lc ~ IJOO.H9-IJ6Z www.docmllgic.com .... :1,. "'./'1; ,." "" \'" p'"", "I:, .....~~ n. ',..1 ,.:.J """ , O.,¿.- 000:139 secured hereby shall remain fully effective as if no acceleration bad occurred, However. this right to reinstate shall not apply in tbe case of acceleration under Section 18. 20. Sale of Note; Change of Loan ServiceI'; Notice of Grievance. The Note or a parliallnterestln tbe Note (together with tbis Security Instrument) can be sold one or more times without prior noUce to Borrower _ A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servidng obligations under the Note, this Security Instrument, and AppUcable Law. There also might be one or more changes of the Loan ServiceI' unrelated to a sale of the Note. If &here is a druge of the Loan ServiceI', Borrower will be given written notice of the change which will state the name and address of the new Loan ServiceI'. the address to wbich payments should be madeand any other Information RESPA requires in connection with a notice of traasf'er of servicing. H the NoIe is sold and thereafter the Loan is serviced by a Loan ServiceI' other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan ServiceI' or be transferred to a successor Loan ServiceI' and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser_ Neither Borrower nor Lender may commence, join, or be joined to any judidal action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to tlús Security Instrument or that alleges lhatthe other party has breached any provision 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 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 lake corrective don. If Applicable Law provides a time period which must elapse before certain aclion can be taken. that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleraUon given to Borrower purswmt to Section 18 shaIJ be deemed to satisfy the DOIiœ and opportuøity to take corredive action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances. pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health. safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial adion, or removal action, as derIDed in Environmental Law; and (d) an "EBvironmental Condition" meaas a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower sbaU 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 Properly. Borrower shall not do, nor allow anyone else to do. anything affecting the Property (a) that is in violation of aøy Enviroomeolal Law, (b) wldch creates an Environmental Condition, or (c) which, due to the presence. use, or release of a Hu.ardous 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 normal residential uses and to maintenance of the Property (including. but not limited to, hazardous substances In cOIISumer products). Borrower sbaI1 promptly give Lender written notice of (a) any investigation, claim. demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has adual knowledge, (b) any Environmental Condition. including but .ot limited to, my spilling, lea.king. discharge. release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence. use or release of a Hazardous SubslaDce which adversely alTects thevalue of the Property. If Borrower learns. or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. WYOMING--Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT - MERS Fonn 3051 1'01 Page 11 of 14 DocNlI1f ¡c~ IKJD.tu9-J362 www.doctrugIc.cøm , \,~j~~~9a3:! 000:14<1 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shaD give notice to Borrower prior to acceleration following Borrower's breac:hofaoy covenant or agreement In this Security Instrument (but not prior to ac:c:eleratlon under Sec:tioø 18 aa1as Applkable Law pnmdes otherwise). The notice shaD specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notlœ is given to Borrower, by which the default must be cured; and (d) that failure to can the default _ 01' before die date tpedØed iD the notIc:e may result in acc:eIeraliGn of the sums secured by this SecurIty Instrument and sale of the Property, The DDtiœ shall............. Borrower of the right to reiastate after acœleration and the right to bring a court action to assert the non-aistenœ of a default 01' any other defease ofBornwer to acœIeradea aød sale. H the default is not c:ared on 01' befon tilt date sped6ed ia die 8ØIiœ. Leader at its optioø .., ftIIIdn ¡ r IIW- payment in run of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by AppHc:able Law. Lender shall be entitled to coDed aU expenses incurred in punulng the remedies pnmded in this Section 22, induding, but not Hmited to, reasonable attorneys' fees and costs of tlUe evidence. H Lender invokes the power of sale, Lender shaD give notice of intent to foreclose to Borrower and to the penoa in passeaioo of the Pruperty, if cBfferent, in IICCOI"danœ with Appllc:able Law. Lender shaD give notice of the sale to Borrower In the manner provided in SectIon 15. Lender shaD pubJisb the ooüœ of sale, and the Property shaD be sold In the IDaIUIeI' prescribed by Applc:able Law. Lender... its d-~..., ....~ tile Pnperty at any sale. TIle proœeds of the sale sba8 be applied iD the foRowIng order: (a) to aD expenses of the sale. """'ec. bat IIOt limited to. rasenable ~' fees; (b) to all __ secured by this Security Instrument; aod (c) any excess to the penon 01' penoas IepIIy entißed to It. 23. Release. Upoa paymem of aU sums secured by ibis Security 1nskumeAt, Leøder shall release Ibis Security Instrument. Borrower shall pay any recordafion costs. Lender may charge Borrower a fee for releaslDg this Security Instrument. but only if the fee Is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. WYOMING-SIngle Famlly..Fannle Mae/Freddie Mac UNIFORM INSTRUMENT· MERS Form 3051 1/01 Page 12 of 14 DocMøgic ~ 1JOO.1I49-f362 www.docmilglc.com ·0. ,,'. .r-....-~ë:l···J 'l . .., .. ~,¡....\ ...... .' ..: . ~J(~:'~ "'-J,'J~ 00014:1 BY SIGNING BELOW, Borrower accepts and agrees to Ihe terms and covenants contained in lhis Security Instrument and in any Rider execuled by BOlTOwer and recorded wilh U. &J~~ BRANDON V KL GLER \'A"t.AII 111\~'()o V. ~rH'19e..t< (Seal) -Borrower ~ð~ 12 . 4. n (Seal) K NDRA D KLIN ER -Borrower (Seal) -Borrower (Seal) -BolTOwer (Seal) -Bon'ower (Seal) -BolTOwer ~:~' '. . 1M ~ In - !.:Ð.ùi5 Witness: 1ttJ- J;J."ÌlJf'/ ¿ ¿c: WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT - MERS Form 30511/01 Page 13 of 14 DocMaglc ~ 1I0O-I4"7382 www.docnuglc.com ,'.. ,'.J> '~::I ~,I A....'~i U ::Jfó.s,.J '-Ji J ~ 000142 [Space Below This Une For Acknowledgment) State of Wyoming dm' :J County of l.IUCOLn T~n ) ) ss. ) The foregoing instnunenl was acknowledged before me by BRANDON V KLINGLER'J\... AND KENDRA D KLINGLER ~ À'f.J>\1 "ßR~Dt1 \! \<1 í n~a\ "\ ..- this ~ I day of ~. ðoo7 Wilness my hand and official seal. d-L m ~~ Di ~fH. fYì Jo'-~ Print or Type ame DIAN,A M. JOY· County of Teton My Commission expires f-RY PUBUC State of Wyoming ...!J.,J..., J My commission expires: 3,./1 ;1/ WYOMING-SIngle FamHy-Fannle MaelFredõae Mac UNIFORM INSTRUMENT· MERS Form 3051 1/01 Page 14 of 14 DoclWllQic ~ 1KJO.649-1362 www.docmtlfJlc.com \..", «j ..r;}> ¡¡:ß ,~! ',.~, . ~ J....J "'-iÝ ft.:: ~.JJ t.:.1.-ff ~ OOO~43 MIN: 100080190065231029 Loan Number: 07-DF8459 ADJUSTABLE RATE RIDER (lIBOR Six-Month Index (As Published In The Waff Street Jouma~ - Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 21st day of MAY, 2007 and is incorporated into and shall be deemed to amend and supplement the Morlgage. Deed of Trust. or Securily Deed (the "Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Adjustable Rate Note (the "Noteft) to NOVASTAR MORTGAGE, INC., A VIRGINIA CORPORATION ("Lender") of the same date and covering the propeny described in the Security Instrument and located at: 27 ROAN WAY, ETNA, WYOMING 83118 [Property Address) THE NOTE CONTAINS PROVISIONS ALWWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE UM1TS THE AMOUNTBORROWER'SINTERESTRATECAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDmONAL 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 The Note provides for an initial interest rate of 9 . 7 0 0 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The inlerest rate I will pay may change on the 1 s t day of JUNE, 2 009 . and on that day every 6 th month thereafter. Each date on which my interest rate could change is called a ·Change Date." (B) The Index Beginning with tbe first Change Date. my interest rate will be based on an Index. The "Index" is the average of interbank offered rates for six month U.S. doUar-denomfnated deposits in the London market ("LIBOR"). as published in The WaD Street Journal. The most recent Index figure available as of the first business day of tbe month immediately preceding the month in which the Change Date occurs is called the "Current Index." If the Index is no longer available. the NoIe Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. MUlTISTATE ADJUSTABLE RATE RIDER-lIBOR SIX-MONTH INDEX (AS PUBUSHED IN THE WAU STREET JOURNAL) Single Family-Fannie Mae MODIFIED INSTRUMENT Form 31381101 Page 1 of 3 Doc:MagIIc:8'iI;.I!IæIII BOO-/UfM362 www.docmIIgic.com .,. ·")'~i\r) ;"/,';' <.J¡~~f'.cI:.J ~oU1""" 000144 (C) Calculation of Changes Before each Change Date. the Note Holder wiD calculate my new interest rate by adding FIVE AND 550/1000 percentage points ( 5.550 %)totheCurrent 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(D) 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 upald principal lhat I am expected to owe at the Chauge Date in full on the Maturily 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) Umits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 12.700 % or less than 9.700 %. Thereafter. my interest rate will never be increased or decreased on any single Cbauge Date by more than ONE AND 000/1000 percentage points ( 1 . 0 0 0 %) from the rate of interest I have been paying for the preceding 6 months. My interest rate will never be greater thau 16 . 700 %. My interest rate will never be less than 9 . 700 %. (E) Effective Date of Changes My new interest rate win become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment cbanges again. (F) Notice of Changes The Note Holder will deUver 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 auy 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 I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Bene6da1 Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property. including. but not limited to, those beneficial interests transferred in a bond for deed, contract for deed. installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Properly 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 Securily Instrument. However. this option shall not be exercised by Lender If such exercise is prohibited by AppHcable 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 nol be impaired by the loan MULTISTATE ADJUSTABLE RATE RlDER-lIBOR SIX-MONTH INDEX (AS PUBUSHED IN THE WALL STREET JOURNAL) ~ Family--Fannie Mae MODIFIED INSTRUMENT Form 3138 '1101 Page 2 of 3 DocMBøfcEl.'tWKN 1IDO-H9-1362 www.tloctNgic.com , "b «' ~), ~jì ~<",.;,' \;.. \...¡¡ ....J.... .,JJ '-" .-.Jf ~"'" 00014~ 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 !be loan assumption. Lender also may require !be 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 !be Note and in !bls Security Instrument. Borrower will continue to be obligated under the Note and Ibis 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 !be date Ihe notice is given in accordance wilh Section 15 within which Borrower must pay all sums secured by this Security Instrument H Borrower falls to pay these sums prior to the expiration of tbls period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained In this Adjustable Rate Rider. ~_.L y~ (Seol) BRANDON V KLI LER -Borrower \""''''A.'' 1bf\'AM{.)n V. \<J¡ ()~~ ~rdr,. ,1) ~~.æJ NDRA D KLINGLER -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) - Borrower MULTlSTATE ADJUSTABLE RATE RIDER--UBOR SIX-MONTH INDEX (AS PUBUSHED IN THE WALL STREET JOURNAIJ Single Family--Fannie Mae MODIRED INSTRUMENT Form 3138 1'01 Page 3 of 3 iJot;MlIgIçeJl¡¡Oll.i!II$ 8fXJ.64f .l36~ www.~g;c_cøm 0001.46 '\...: î '"J' ~,C ), f;:¡ 'LHi \:.3,,,".-1 ('-f..J ü J ¿., PREPAYMENT RIDER Loan Number: 07-DF8459 Date: MAY 21, 2007 BOn'ower(s): BRANDON V KLINGLER, KENDRA D KLINGLER THIS PREPAYMENT RIDER (the "Rider") is made this 21st day of MAY 2 0 0 7 . and is incorporated into and shaD be deemed to amend and Stlpplemenl the Morcgage. Deed ofTrusl or Security Deed (the "Security Inslrument") of Ihe same date given by the undersigned ("Borrower") to secure repayment of Borrower's promissory note (the "Nole") in favor of NOVASTAR MORTGAGE, INC., A VIRGINIA CORPORATION ("Lender"). The Security Inslrumenl encumbers the Properly more specifically described in Ihe Securily Insb'amenl and. localed al 27 ROAN WAY, ETNA, WYOMING 83118 (Property Address) ADDITIONAL COVENANTS. In addition 10 Ihe covenants and agreemenls made in Ihe Securily Instrumenl. Borrower and Lender further covenant and agree as follows: A. PREPAYMENT CHARGE The Note provides for Ihe payment of a prepaymenl charge as foUows: 5 . BORROWER'S RIGHT TO PREPAY; PREPAYMENT CHARGE I have Ihe right 10 make payments of Principal al any time before they are due. A paymenl of Principal only is known as a "Prepayment N When I make a Prepaymenl, I wUl tell the Note Holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have nol made aU the monlhly payments due under the Note. Tbe Note Holder will use my Prepayments to reduce the amount of Principal that I owe under the Note. However. the Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount. before applying my Prepaymenl to reduce the Principal amounl of the Note. If I make a partial Prepayment. there will be 110 changes in the due dares of my monthly payment unless the Note Holder agrees in writing to those changes. If the NOle contains provisions for a variable interest rate. my partial Prepayment may reduce the amount of my monthly payments after the first Change Date following my partial Prepayment. However. any reduction due to my partial Prepayment may be offset by an interest rate increase. If tbis Note provides for a variable interest rate or finance charge. and the interest rate or Onance charge at any Orne exceeds the legal limit lIJIder MUlTlSTATE PREPAYMENT RIDER 6/03 Plge 1 of 2 Doc:Megk~ lKKJ.6411-736Z www.dacmaglc.com ,-'\O(\")\(fJ~,'···i ~. \¡J",J('-f..Jc::.:;,..,j,."jb, 00014";- which a Prepayment penalty Is allowed, then the Note Holder's right to assess a Prepayment penalty win be determined under applicable Jaw. If within TWENTY - FOUR (24 ) monlhs from the date the Security Instrument is executed I make a full Prepayment or one or more partial Prepayments, and the total of aU such Prepayments in any 12-month period exceeds twenty percent (20%) of the original Prindpal amount of the loan, I will pay a Prepayment charge in an amount equal to SIX (6) months' advance interest on the amount by which the total of my Prepayments within any 12-month period exceeds twenty percent (20%) of the original Prindpal amount of the loan. Rider. BY SIGNING BELOW, BOlTower accepts and agrees to the teons and provisions contained in this y~ .-= '~ I f)p..Andon V ~nn jU (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower MULTlSTATE PREPAYMENT RIDER 6/03 Page 2 of 2 ~ew.<:./11iìOO! B00-6411-136Z www.docl7ll1gic.com 000:148 r ol. ',"}' Q."ß O¡~:! 91... . \.'J oJ (l.t, .~.J] Q EXHIBIT "A" ALL THAT CHRTAIN LAND SmJATED IN THE STATE OF WY, COUNTY OFUNCOLN, CITY OF ETNA, DESCRIBED AS FOu..oWS: LOT 112, NORDIC RANCHES, DMSION NO.8, TO TIm COUNTY OF UNCOLN, STATE OF WYOMING, ACCORDING TO TIlERECORDBD PLAT THEREOF. APN:12-3619-26-2-00-219.00 PAGE 6