HomeMy WebLinkAbout930848
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After Recording Return To:
RECEIVED 6/29/2007 at 4:08 PM
RECEIVING # 930848
BOOK: 664 PAGE: 183
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
FIRST HORIZON HOME LOANS
1555 W. WALNUT HILL LANE, SUItE 200
IRVING, TEXAS 75038
POST CLOSING MAIL CENTER 6712
[Space Above Thll¡ Line For Recording DataJ
Loan Number 0061330296
MERS NUmber 100085200613302969
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18.20
and 21. Certain rules regarding the usage of words used in this document are also provided in Sectjon 16.
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(A) "Security Instrument" means this document. which is daled JUNE 28,2007, together with all Riders to this document.
(II) "BoITOwer" is BRENT W. KENDALL and GEORGEnE B. KENDALL AS TRUSTEES OF THE BRENT AI\'D
GEORGETTE KENDALL FAMILY TRUsr tINDER TRUST INSTRUMENT DATED APRU. 14,2006, FOR THE
BENEm OF BRENT W. KENDALL AND GEORGETI'E B. KENDALL. Borrower is the mongagor under this Security
Instrument.
(C) tiMERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separlite corporation that is &Cting solely as a
nominee for Lender and Lender's successors and,assigns. MERS is the mortgagee WIder thJs Security Iostnunent. MERS is
organized and existing under' the laws of Delaware, and has an address and telephone nwnber of P.O. Box 2026, Flint. MI
48501-2026, tel. (888) 679·MERS.
(D) ItLenderlt is FIRST HORIZON HOME LOANS, A DMSION OF FIRST TENNESSEE BANK NATIONAL
ASSOCIATION. Lender is a NATIONAL BANK organized and existing under the laws of THE UNITED STATES OF
AMERICA. Lender's address is 4000 HORIZON WAY, IRVING~ TEXAS 75063.
(E) "Note" means the promissory note signed by Borrower and dated JUNE 28,2007. The Note states that Borrower owes
Lender ONE HUNDRED FIFTY THOUSÅ.1\1) AND OO/lOOths Dollars (U.S.S150,OOO.OO) plus interest. Borrower has
promised to pay this debt in regular Periodic PaymentS and to pay the debt in full not later than JULY 1, Z037.
(F) "PrOperty'l means the property that is described below under the heading "Transfer of Rights in the Propeny.·
(G) "Loan" means the debt evidenced by the Note, plus interest. any prepayment charges and late charges due under the Note.
and all sums due under this Security Instrument. plus interest.
(H) "Riders" means aJl Riders 10 this Security Instrument that are executed by Borrower. The following Riders are to be
executed by Borrower [check bo~ a5 applicable]:
o Adjustable Rate Rider 0 Condominium Rider
o Balloon .Rider !XI Planned Unit Development Rider
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lXI Second Home Rider
!:J 1-4 Fami1y R.ider
IX! Inter Vivos Revocable Trust Rider
OBlweekly Payment ~ider
WYOMING-Single Famlly-Fann~ Mae/Freddie Mae UNIFORM INSTRUMENT
Form 3051 1/01 (page 1 oj 11 pages)
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(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative rules and orders (that bave the effect of law) as well 85 all applicable fmal, non-appealable judicial opinions.
(J) "Community Association Dues, Fees, and Assessmentsll means all dues, fees, assessments and other charges that are
imposed on Borrower or the Property by a condominium association, homeowners association or sîmi1ar organization.
(I{) "Ele<:tron;e Funds Traøsfer" means any transfer of funds. other than a transaction originated by check, draft, or similar
paper instrument, which is iIDtiated through an electronic terminal, telephonic instrument, computer, or magnetic rape so as to
order. instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to,
point-oC-sale transfers, automated teller machine transactions, transfers initiated by telephone. wire transfers, and automated
clearinghouse transfers.
(L) "Escrow Itemsll means those items that are described in Section 3.
(M) tMiscellaneous Proceeds'· means any compensation, settlement, award of damages, or proceeds paid by any third party
(other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the
Property; (ü) condemnation or other laking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv)
misrepresentations of, or o1IÙSSjOns as to, the value and/or condition of the Property,
(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on. the Loan.
(0) "Periodic: Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any
amounts under Section 3 of this Security Instroment.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation,
Regulation X (24 C.P.R. Part 3500), as they might be anænded from time to time, or any additional or successor legislation or
regulation tha.t governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally
related mortgage loan" under RE.SPA.
(Q) "Successor in Interest of Borrower" means any party that has taken tide to the Property I whether or not that party has
assumed Borrower's obligations under the Note and/or this Security Instrwnent.
o~)a08L18
TRANSFER OF RIGHTS IN THE PROPERTY
TIús Security Instrument secures to Lender: (i) the repayment of the Loan. and ali renewals, extensions and modifications of the
Note: and (ü) the perfoID18nce of BotTower's covenants and agreements under this Security Instrument and the Note. For this
purpose-, Borrower does hereby mortgage. grant and convey to MERS (solely as nominee for Lender and Lender's successors
and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the
COUDty of ,LINCOLN
[Type of Recording Jurisdiction} (Name of Recording Jurisdiction]
LOT 146 IN Sf AR VALLEY RANCH PLAT 18, LINCOLN COUNIY, WYOMING AS DESCRIBED
ON THE OFFICIAL PLAT THEREOF.
which currenúy hB& the address of 38 PORTO CIRCLE
STAR VALLEY RANCH
[City}
, Wyoming
83127
(Zip Code}
(Street)
("Property Address"):
WYOMING-Single Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT
Form 30S1 1/01 (pagt 2 of 11 pages)
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TOGETHER WITH aU the improvements now or hereafter erected on the property. and all easements, appurtenances. and
fIXtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Inslrument.
All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and ågrees that MERS
holds only legal ûtlc to the interests granted by Borrower in this Security Instrument, but, if necessary [0 comply with law or
custom, ME~S (as nOŒÙnee for Lender and Lender's sucœgsors and assigns) h8!l the right: to exercise any or all of those
interests, including, but not limited to, the right [0 foreclose and sell the Property; and to 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 SECUR.ITY INSTRUMBNT combines uniform covenants for national use and non-uniform covelWlt8 with limited
variations by jurisdiction to constitute a uniform security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment or Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when
due the principal of, and interest on, ,the debt evidenced by the Note and any prepayment charges and late charges due under the
Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security
Instrument shan be made in U.S. currency. However. if any check or other instrument received by Lender as payment under the
Note or this Security Instrument is returned to Lender unpaid, Lender ma.y require that any or all subsequent payments due under
Ù1e Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money
order: (c) certified check, bank check. treasurer's check or cashier's check, provided any such check is drawn upon an institution
whose deposits are insured by a federal agency, instrumentality, or entity: or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at ruch 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 !he Loan current. Lender may accept any paymem or partial
payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such
payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payxnenrs are
accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied
funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borro~er does not
do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied
earlier, such funds will be applied to the outstanding principal balance under the Note inunediately prior to foreclosure. No
offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments
due under the Note and this Security Instrument or perfonning the covenants and agreements secured by this Security
Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this "Section Z, all paymems accepted and
applied by Lender shall be applied in the following order of priority: (8) interest due under the Note: (b) principal due under !he
Note; (c) amounts 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 to any other amounts due under this Security
Instrnment, and then to reduce the principal balance of the Note.
If Lender receive$ a paymem from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay
any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic
Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,
and to the extent that, each payment can be paid in full. To the extent that any exceu exists after the payment is applied to the
full pa>'II1et1t of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
shall be applied f1tst to any prepayment charges and then 8!1 described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not
eJttend 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, untll the
Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items
which can attain priority over this Security Instrument as a lien Or encumbrance on the Property: (b) leasehold payments or
ground rents on the Propeny, if any; (c) premiums for any and all insurance required by Lender under Secûon 5: and (d)
Mongage Insurance premiums, if any, or any sums payable by Borrower to Lender i11lieu of the payment of Mortgage Insurance
premiums in acc:ordanc:e willi the provisions of Section 10. Tbese Items are called "Escrow Items." At origination or at any
time during the term of the Loan. Lender may require that Community Association Dues. Fees, and Assessments, if any, be
WYOMING..Sin!!le Family-Fannie Mae/Freddie Mae UNIFORM INSTRUMENT
Forß1 3051 1/01 (pàgt 3 of 11 pages)
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escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to
Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless
Lender waives Borrower's obligation to pay me Funds for any or all Escrow Items. Lender may waive Borrower's obligation to
pay to Lender Funds for any or all Escrow Items at any tiJne. Any such waiver may only be in writing. In the event of such
waiver. Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which. payment of
Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within
such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
purposes be deemed to be a covenant and agreement contained in this Security Instrument, as !be phrase "covenant and
agreement" is used in Section 9, If Borrower is obligated to pay Escrow .tems directly, pursuant to a waiver, and Borrower fails
to pay !be amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower
shall then be obligated under Section 9 to repay to Lender any such amount. Leìlder may revoke the wBÍver as to any or all
Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to
Lender all Funds, and in such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Punds in an amount (a) sufficient to permit Lender to apply the Fund6 at the time
_ specified under RESPA, and (b) not to ex.ceed!be maximum amount a lender can require under 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 federal agency, instrwnentality, or entity
(including Lender, if Lender is an instituûon whose deposits are so insured) or in any Pederal Home Loan Bank. Lender shall
apply the Funds to pay the Escrow ItemB no later than the time specified under RESP A. Lender shall not charge Borrower for
holding and applying the Funds, annually anaJyzinS the escrow account, or verifying !be Escrow Items, unless Lender pays
Borrower interest on the Funds and Applicable Law pennits Lender to make such a charge. Unless an agreement is made in
writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest
or earnings on the funds. Borrower and Lender can agree in writing, however. that interest shall be paid on the Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as deftned under RESPA, Lender shall account to Borrower for !be excess
funds in accordance wi!b RESPA. If there is a shortage of Funds held in escrow, as defmed under RESPA, Lender shall notify
Borrower as required by RESP A, and Borrow~ shall pay to Lender the amount necessary to make up the shortage in accordance
with RESPA, but in no more than l2 monthly payments. If there is a deficiency of Funds held in escrow, as defmed under
RESPA, Lender shall notify Borrower as required by RESPA, and Borrower 6ha11 pay to Lender the amount necessary to make
up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by thi6 Security Instrument, Lender shall promptly refund to Borrower any Funds
held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fmes, and impositions attributable to the Property
which can attain priority over this Secwity Instrument, leasehold payments or ground rents on !be Property. if any, and
Coromunity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall
pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unle$s Borrower: (a) agrees in
writing to the payment of the obligation secured by the Hen in a manner acceptable to Lender, but only so long as Borrower is
performing such agreement: (b) contests the lien in good fai!b by, or defends against enforcement of the lien in, legal
proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but
only until such proceedings are concluded; or (c) secures from the holder of tbe lien an agreement satisfactory to Lender
subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a Lien which
can attain priority over this Security Instnu-nent, Lender may !live BOlTOwer a notice identifying the lien. Within 10 days of the
date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set fonh above in this
Section 4.
Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reponing 6ervice used by
Lender in connection with this Loan.
5. Property I,nsurance. Borrower shall keep the improvements now existÎIl8 or hereafter erected on the Property insured
against loss by r1fe, hazards included within the term "extended coverage," and any other hazards including, but not limited to,
earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including
deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can
change during the ter= of the Loan. The insurance carrier providing the ÍD8urBDce Bball be choøcm by BOlTower 8ubjcot to
Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower
0930~{l~
WYOMING--Single Pamily-Fannle Mae/Fredd.le Mac UNIFOR.1I,{ INSTRUMENT
Form 30!il 1/01 (pagt of of II pagts)
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to pay, in connection with this Loan. either: (a) a one-time charge for flood zone determination, certification and tracking
services; or (b) B one.time charge for flood zone determinat.ion and certification services and subsequent charges each time
remappings or similar changes occur which reasonably might affect such detenninaûon or certificaûon. Borrower shall also be
responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review
of any flood zone determination resulting from an objection by Borrower,
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at LeDder's
option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage.
Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the
contents of the Property, against any risk, hazard or liability and might provide greater or Lesser coverage than was previously in
effect. Borrower acknowledges that the cost of the insurance coverage so obtained DÙghl significantly exceed the cost of
insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional
debt of Borrower secured by this Security Instrument, These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable. with such interest. upon notice from Lender to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such
policies, shall include a standard mortgage clause. and shall name Lender as mortgagee andlor as an additional loss payee.
Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to
Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise
required by Lender, for damage to, or destnlction of, the Property, such policy shalL include a standard mortgage clause and
sball name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss
if not made promptly by Borrower. Unless Lender and Borrower otherwise agree 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 I 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 in8U1'ance 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 prompUy. Lender may disburse
proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless
an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by
Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or
repair is not economically feasible or Lender's security would be lessened, the insurance proceeds snaIl be applied to the sums
secured by this Security InstnlJDCnt, 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 abandona the Property, Lender may me, negotiate and senle any available insurance claim and related matters.
If Borrower does not respond within 30 days to a notice from Lender that the ÎDsurance camer bas offered to settle a claim, then
Lender may negotiate and settle the claim. The 3O-day period will begin when the notice is given. In either event, or if Lender
acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance
proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of
Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insunnce 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 Instrwnent, whether or
pOl then due.
6. Occupancy. .BQrrower shall occupy, Ð$œblish, and use the Property as Borrower's principal residence within 60 days
after the execution of this Security lnst.rUInent and shall continue to occupy the Property as Borrower's princ:ipal residence for at
least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably
withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or
impair the Property, alLow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in
the Property. Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due
to its condition. Unless it is determined pursuant to Section S that repair or restoration is not economically feasible. Borrower
shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds
are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring
Ùle Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and
restoration in a &ÎDgJ.e payment or in a series of progress payments as the work is completed. If the: in,urancc: Of condc:mnation
proceeds are not sufficient to repair or restore the Properly, Borrower is not ~elieved of Borrower's obligation for the compLetion
of such repair or restoration.
WYOMING-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT
Form 3051 1/01 (page 5 of 11 pages)
ÄA1(
0930848
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Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender
may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such
an interior inspection specifying such reasonable cause. '
8, Borrower's Loan AppUcation. Borrower shall be in default if, during the Loan application process, Borrower or any
persons or entities actin¡ at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
misleading, or inaccurate informat.ion or statements 10 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 principal residence.
9. Protection or Lender's Interest in the Property and JUghts Under tWs SeclU"ity Instrument. If (a) Borrower fails to
perform the covenants and agreements contained in this Security Instrument. (b) there is II legal proceeding that might
significantly affect Lender's interest in the Propeny and/or rights under this Security Instrument (such as a proceeding in
bankruptcy, probate, for condemnation or forfeiture. for enforcement of a lien which may 81tain priority over this Security
Instrument or to enforce laws or regulations), or (c) Borrower bas abandoned the Propeny, then Lender may do and pay for
whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,
including protecting and/or assessing the value of the Property. and securing and/or repairing the Property. Lender's actions can
include. but are not limited to: (a) paying any swns secured by a lien which has priority over this Security Instrument; (b)
appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Propeny and/or rights under this
Security Instrument, including it! secured position in a bankruptcy proceeding. Securing the Property includes. but is not
limited to. entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes,
elinùnatc building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may
take action under this Section 9, Lender docs not have to do $0 and is not under any duty or obligation to do so. It is agreed that
Lender incurs no liability for not taking any or all actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security
Instl11Iœnt. These amountS shall bear interest at the Note rate from the date of disbW'sement and shall be payable, with such
interest, upon notice from Lender to Borrower requesting payment.
If this ScaJrity Instrument is on a leasehold. Borrower shall comply with all the provisions of the leélSe. If Borrower
acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mongage Insurance as a condition of making the Loan. Borrower shall pay
the premiwns required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance cover88e
required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was
required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
premiums required to obtain coverage substantislly equivalent to the Mortgage Insurance previously in effect. 81 a cost
substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage
insurer selected by Lender. Xf substantially equivalent Mongage Insurance coverage is not available, Borrower shall continue to
pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in
effect. Lender will accept. use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such
loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ulûmately paid in full, and Lender shall not be
required to pay Borrower any interest or earnings on such loss reserve. Lender can DO longer require loss reserve payments if
Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender
again becomes available. is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make
separately design81ed payments toward the premiums for Mortgage Insurance. Borrower shall pay the premiums required to
maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage
Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until
termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate
provided in the Note.
Mortgage Insurance reÎ1t1burses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower
does not repay the Loan as agreed. Borrower is not a pany to the Mortgage Insurance.
Mongage insurers evaluate their total risk on all such insurance in force from time to time. and may enter into agreements
with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are
satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the
mortgage: insurer to make payments using any source of fw1cU thal thc mortgllßc insurer may havc availabte (which may include
funds obtained from Mortgage Insurance premitl1m).
WYOMING-Single Family-Fannie MaeIFredd1e Mac UNIFORM INSTRUMENT
Form 30S1 1/01 (pagtl 6 of J J pogts)
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JUN-28-20n7 nq:53
First Horizon
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0930848
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As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any oilier entity, or any
afflliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a
portion of Borrower's payments for Mongage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or
reducing losses. If such. agreement provides that an afOliate of Lender takes a share of the insurer's risk in exchange for a share
of the premiuJn!I paid to the insurer. the arrangement is often termed ~captive reinsurance. ~ Purther;
(a) Any such agrœmentB will Dot affect the amounts that Borrower has agreed to pay for Mortgage Iosurancet or any
other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and
tbey will Dot entitle Borrower to any refW1d.
(b) Any !luch agreements will not affect tbe rights Borrower bas . 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
disclosures, to request and obtain cancellation of tbe Mortgage InøW'ance, to have the Mortgage Insurance terminated
automaticaJly and/or to receive a refund of any Mortgage Insurance premiums tbat were UDearned at the time of such
cancellation or termination.
11. Assignment of Miscellaneous PrO(:teds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be
paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoraûon period,
Lender shall bave the right to hold such Mìscel1aneoU1i Proceeds until Lender has had an opportunity to inspect such PropertY to
ensure the work has been completed to Lender's satisfaction, provided that sucb inspection shall be undertaken promptly.
Lender may pay for the repairs and restoration in a single disbursement or in a series of progress paymen15 as the work is
completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such. Miscellaneous Proceeds. If the
restoration or repair is not econoIIÙcally 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 e1lCCSS, if aDY, paid to Borrower.
Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
In the event of a total taking. destruction, or 10&$ in value of the Property, the Miscellaneous Proceeds shall be applied to
the sums secured by this Security Instnunent. whether or not then due, with the excess, if any, paid to Borrower.
In the event of a partial taking, 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 befote the partial taking, destrucûon, 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 Miscel1aneous
Proceeds multiplied by the following fraction: (a) the total amoUllt of the sums secured immediately before the partial taking,
destruction, or loss in value divided by (b) the fair market value of the Propeny immediately before the partial taking.
destruction, or loss in value. AD.y balance shall be paid to Borrower.
In the event of a partial taking, destruction. or loss in value of the Property in which the fair market value of the Property
immediately before the partial taking. destruction, or loss in "alue is less than the amount of the sums secured immediately
before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, tbe Miscellaneous
Proceeds shaH be applied to the sums secured by this Security Instrument whether or not the sums are then due.
If the Propeny is abandoned by Borrower, or if, afler notice by Lender to Borrower that the Opposing Party (as defined in
the next SCIltence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days
after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous 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 that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to
Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
could result in forfeiture of the Property or other material 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 Propeny or
other material impaln:nent of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any
award or claim for damages that are attributable to the impail1l1ettt of Lender's interest in the Property are hereby assigned and
shall be paid to Lender.
All Miscellaneous Proceeds that are .I1ot Applied to re,toraüon or repair or the Property sball be applied in the order
provided for in Section 2.
WYOMING-Single Pamily-Fannie MaelFreddie Mac UNIFORM INSTRUMENT
Form 3051 1/01 (page 7 of II pages)
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09308tl~
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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 InstrUIIlent granted by Lender to Borrower or any Successor in Intere<lit of
Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be
required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or
otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original
Borrower or any Successors in Interest of Borrower. A:D.y forbearance by Lender in exercising any right or remedy including,
without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in
amounts less than the amoont then due, shall not be a waiver of or preclude the exercise of any right or remedy.
13. Joint and Seyeral Liability; Co.signers¡ Successors and A.ssigns Bound. Borrower covenants and agrees that
Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Secwity Instrument
but does nOl 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 Instrument; (b) is not personally obligated to pay the sums
secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
make any accommodations with regard to the terms 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 asswnes Borrower's obligations onder
this Security Instrument in writing. and is approved by Lender, shall obtain all of Borrower's rights and benefits under this
Security lnstnlIDCIlt. Borrower shall not be released from Borrower's ob1ígations and liability under this Security In.strument
unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as
provided in Section 20) and benefit the successors and assigw of Uncler.
14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default. for the
purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to,
attorneys' fees, property inspection and valuation fees. In regard to any other fees, tbe absence of express authority in this
Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee.
Lender may Dot charge fees that an: expressly prohibited by this Security Instrnmcnt or by Applicable 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 connection with the Loan exceed the permiued limits, then: (a) any such loan
charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any !iUIIlS already coUected
from Borrower which exceeded permined limits will be refunded to Borrower. Lender may choose to make this refund by
reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduce¡ principal, the
reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is
provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a
waiver of any right of acdon Borrower might have arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any
notice to Borrower in connection with this Security lnstnmu:nt shall be deemed to have been given to Borrower when mailed by
first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall
constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice addreS6 shall be the Property
Address unless Borrower has designated a substitute noûce addrCS8 by notice to Lender. Borrower shall promptly notify Lender
of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower
shall ollly report a change of address through Ù1at specified procedure. There may be only one designated notice address under
this Security Instrument at anyone time. ADy notice to Lender shall be given by delivering it or by maili.Dg it by first class mail
to Lender's address stated herein unless Lender bas designated another address by notice to Borrower. Any notice in connection
with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice
required by this Security Instrument is also required UDder Applicable Law, the Applicable Law requirement will satisfy the
corresponding requirement under this Security Instrument.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and
the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are
subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the panics
to agree by contract or it might be silent, but such süence shall not be construed as a prohibition against agreement by contract.
In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such contlict
shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting
provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words
or words of the fcmini= sender; (b) words in !he Binsular &hall mèlUl and include the plural and vice versa; and (c) the word
~may' gives sole discretion without any obligation to take any action.
17. Borrowerts Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
WYOMING-.Slngle FamUy.·Fannie MaeIFreddie Mae UNIFORM INSTRUMENT
Form 3051 1/01 (page 8 of J 1 pages)
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JUN-2B-2Ut '( ()<. : 0:.:1
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18. Transfer of the Property or a Beneficial Interest. in Borrower. As used in this Section 18, "Interest in the Property~
means any legal or beneficial interest in the Property, including. but not limited to, those beneficial interests transferred in a
bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by
Borrower at a future date to a purchAser.
If all or any part of the Property or any Imerest in the Property is sold or transferred (or if Borrower is not a natural person
and a beneticial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may n:quire
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 noûce of acceleration. The notice shall provide a period of not
less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower mu&! pay all SU1\1S
secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may
invoke any remedies permitted by tlùs Security Instrument without further notice or demand on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the
right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of
the Property pursuant to any power of sale contained in this Security Instroment; (b) such other period as Applicable Law IIÚght
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 Instrument and the Note as
if no acceleration bad occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in
enforcin,g this Security Instrument, including, but not limited to, reasonable attOrneys' fees, property inspection and valuation
fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security
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 Instrumem, shall continue
unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following fonns.
as selected by Lender: (a) cash; (b) money order; (c) certified check:, bank check, treasurer's check or cashier's check, provided
any such check is drawn upon an institution whose deposits are insured by II federal agency. instrumentality or entity; or (d)
Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall
remain fully effective as 1í no acceleration had occurred. However, this right to reinstate shall not apply in the case of
acceleration under Section 18.
20. Sale or Note; Change or Loan Se:rvicer¡ Notice of Grievance. The Note or a partial interest in the Note (together with
this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale mi~t result in a change in the
entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and
performs other mortgage loan servicing obligations under the Note, this Security Instrwnent, and Applicable Law. There also
might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer,
Borrower will be given written notice of the change which will 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 notice of transfer of
servicing. If the Note is sold and thereafter the Loan is serviced by II Loan Servicer other than the purchaser of the Note, the
mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan
Servicer and are not asSUD.1ed by the Note purchaser unless otherwise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join. or be joined to any judicial action (as either an individual litigant or the
member of a class) that arises from the other party's actions pursuant to this Security Instr\l1nent or that alleges that the 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 1 S) of such alleged breach and
afforded the other party hereto a reasonable period after the giving of such noûce to take corrective IICtion. If Applicable Law
provides a time period which must elapse before cenain action can be taken, that time period will be deemed to be reasonable for
purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the
notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take
corrective action provisions of this Section 20.
21, Hamrdous Substances. As used in thi5 Section 21: (a) "Hazardous Substances" are those subsumces defmed ss toxic
or hazardous 8ubsumces, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other
flammable or toxlc petroleum products, toJÔc pesticides and herbicides, volatile solvents, materials containing asbestos or
fonnaldehyde, and radioacûve materials; (b) "Enviromnental Law· means federal laws and laws of the jurisdiction wheœ the
Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup· includes any response
Kç~iòD. r~me(1 a1 aotlon, OJ: .remova1 acLion, as defIned in Environmcnta1 Law; and (d) an "EnvLrormum1al Condiûon" means a.
condition that can cause. contribute to. or otherwise trigger an Environmental Cleanup.
WYOMING-Single Pamily-Fannle MaeIFreddle Mac UNIFORM INSTRUMENT
Form 3051 1/01 (page 9 of J 1 pages)
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093084~
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BOITOwer 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)
w1ùch, 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 sball 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 consumer products),
Borrower shall promptly give Lender wrinen notice of (a) any investigation, claim. demand, lawsuit or other action by any
governDJental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law
of w1ùch Borrower bas actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling. lea1dng,
discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release
of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any
govel't1Inental or regulatory authority, or any private parry, that any removal or other remediaûon of any HazardoU1l Substance
affecting the Propen.y is necessary, BOITOweX' shall promptly take all necessary remedial actions in accordance with
Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach
of any covenant or agreement in this Security Instrwnent (but not prior to acceleration under Section 18 W1less Applicable
Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cu.re 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 the default on or before the date Bpecified in the notice may result in acceleration of the sums secured by
this Security InstnJment and sale of the Property. The notice shall further inform Borrower of the right to reinstate after
acceleration and the right to bring a court action to assert the Don...rostence of a default or any other defense of Borrower
to acceleration and sale. If the default is not cured on or belore the date øpeclfied in the notice, Lender at its option may
require immediate payment in full or all SUDlll secured by this Security Instrument without further demand and may
in'Voke the powa' of sale and any other remedies permitted by Applicable Law. Lender BbaU be entitled to collect aU
expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable
attorneys' fees and costs of title evidenc;e.
If Lender invokes the power oC sale, Lender shall give notice oC intent to foreclose to Borrower and to the perSOD in
possession of the Property, if different, in accordance with AppUcable Law. Lender shall give notice ot thesale to
Borrower in the manner provided in Section IS. Lender shall publish tbe notice 01 sale, and the Property shall be sold in
tbe lDaDDer presc:ribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proCeedø of
the &ale shall be applied In the following order: (a) to all expenses of the saJc, including, but not limited to, reasonable
attorneys' fees; (b) to all B\UILI secured by thiB Security Instnnnent; and (c) any ertess to the person or personlllegally
entitled to it.
23. Release. Upon payment of all SWDS secured by this Security Instrument, Lender shall release this Security Instrument.
BOITOwer shaH pay any recordation costS. Lender may charge Borrower J fee for releasing this Security Instrument, but only if
the foe is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law.
24. Waivers. BOITower relèaSeS and waives all rights under and by virtUe of the homestead e~emption laws of Wyoming.
WYOMING·-Singlc Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT
Form 3051 1/01 (pagl! 10 of 1 J pages)
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BY SIGNING BELOW, Borrower accepLS and agrees to the tenns and covenants contained in Ù1is SecuriLy Instrument and
in any Rider executed by Borrower and recorded with it.
Witnesses:
~iP.Qur
/BRENT w. KENDALL
nð! d/ÞJk3.r!e-dAl¿
GEORGf B. KEÑñÃU
(Seal)
·BorroWl:r
[Spal:e Below This Line For Acknowledgment]
State of WYOMING
ss
County of
LINCOLN
(Seal)
·Borrower
(Seal)
-Borrower
(Seal)
-Borrower
The foregoing in$trument was acknowledged before me by BRENT W. KENDALL and GEORGE'ITE B. KENDALL
AS TRUSTEES OF THE BRENT A:II¡D GEORGETTE KENDALL FAl\fiL Y TRUST UNDER TRUST INSTRUMENT
DATED APRIL 14, 2~06. FOR THE BENEFIT OF BRENT W. KENDALL AND GEORGETTE B. KENDALL this
~ day of ~ LlV\€... "2..Oc>=\-; .
Witness my hand and official seal.
(Seal)
My Commission Expires: é). vl\ ~
(Print or type name)
CHERYL A. JONES - NOTARY PUBLIC
County of <'-:':?¡. Stale of
Uncoln (~i;I~ki Wyoming
My CGrnmission ~Pires Feb. 4, 2009
BY SIGNING BELOW, the undersigned Settlors of The Brent and Georgette Kendall
Family Trust under trust instnIment dated April 14, 2006, for the benefit of Brent W.
Kendall and Georgette B. Kendal1 acknowledge all of the t lS and covenants contained
in this Security Instrument and any rider(s hereto and a ee t be bound thereby.
Settlor
l!J;,fJrlff) it? ~eÍdÆea')
Settlor
WYO~fiNG--Single Family--Fannie MaelFreddie MAc UNIFORM INSTRUMENT
Form 3051 1101 (pagt J] óf ] J pages)
0930848
OOA'lo;..g fr"" ,."
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Lolli Number 0061330296
PLANNED UNIT DEVELOPMENT RIDER
THIS PLANNED UNIT DEVELOPMENT RIDE.R is made this 28TH day of JUNE, 2007. and is
incorporated into and sball be deemed to amend and supplement the Mortgage, Deed of Trust, or Security
Deed (the "Security InstrUment") of the SaDle date, given by the undersigned (the "Borrower") to secure
Borrower's Note to FIRST HORIZON HOME LOANS, A DMSION OF FIRST TENNESSEE BAJI\'K
NATIONAL ASSOCIATION (the "Lender") of the same date and covering the Property described in the
Security Instrument and located at:
38 PORTO CIRCLE. STAR VALLEY RANCH, WYOMING 83127
[property Address]
The Property includes. but is not limited to. a parcel of land improved with a dwelling. together with
other such parcels and certain common areas and facilities. as described in
DECLARATION OF COVENANTS, CONDmONS ANI) RESTRICI10NS OF RECORD
(tbe "Declaration"). The Property is a part of a planned unit development known as
STAR VALLEY RANCH
[Name of Planned Unit Developmcnt]
(the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent
entity owning or manAging the common areas and facilities of the PUD (the "Owners Association") and
the uses, benefits and proceeds of Borrower's interest.
PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrwnent,
Borrower and Lender further covenant and agree as follows:
A. PUD ObUgatioPI. Borrower shall perform all of Borrower's obligations under the PUD's
Constituent Documents. The "Constituent Docwnents" are the: (1) Declaration; (ü) articles of
incorporation, trust instrument or any equivalent document which createS the Owners Association;
and (üi) any by.iaws or other ru1es or regulations of the Owners Association. Borrower sball
promptly pay, when due, all dues and assessments imposed pursuant to the Constituent
Documents.
B. Property Insuranc:e. So long as the Owners Association maintains, with a generally
accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is
satisfactory to Lender and which provides insurance coverage in the amounts (including deductible
levels), for the periods, and against loss by Î1re, hazards included within the term "extended
coverage." and any other hazards, including, but not liIDited to, earthquakes and floods. for which
Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic
Payment to Lender of the yearly premium installments for property insurance on the Property; and
(ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property
is deemed satisfied to the extent that the required coverage is provided by the Owners Association
policy.
What Lender requires as B condition of this waiver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance coverage
provided by the master or blanket policy.
In the event of a wstribution of property insurance proceeds in lieu of restoration or repair
following a loss to the Property, or to common areas and facilities of the PUD, any proceeds
payable to Borrower are hereby assigned and shall be paid to under. Lender shall apply the
proceeds to the sums secured by the Security Instrument, wbether or not then due, with the excess,
if any. paid to Borrower.
MVL TIST ATE PUD JlIDtR-Single Family-F8J1Die MaelFreddle Mac UNIFORM INSTRUMENT
Form 3150 110t
(page 1 of 2 pages)
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'C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure
that the Owners Association maintains a public liability insurance policy acceptable in fonn.
amount. and extent of coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages. direct or consequential.
payable to Borrower in connection with any condemnation or other taking of all or any part of the
Propeny or the common areas and facilities of the PUD, or for any conveyance in lieu of
condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by
Lender to the sums secured by the Security lnstrument as provided in Section 11.
E. Lender', Prior Consent. Borrower shall not, except after notice to Lender and with
Lender's prior wrinen consent, either partition or subdivide the Propeny or consent to: (i) the
abandonment or termination of the PUD. except for abandonment or termination required by law
in the, cast? of substantial destruction by fire or other casualty or in the case of a taking by
condemnaûon or eminent doma.in; (Ii) any amendment to any provision of the "Constituent
Documents" if the provision is for the express benefit of Lender; (Iii) tennination of professional
management and assumprion of self-management of the Owners Association; or (iv) any action
which would have the effect of rendering the public liabiliry insurance coverage maintained by the
Owners Association unacceptable to Lender.
F. Remedies. If Borrower does not pay PUD dues and assessments when due. then Lender
may pay them. Any amounts disbursed by Lender under this paragrapb F shall become additional
debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other
terms of payment, these &InOuoes shall bear interest from the date of disbursement at the Note rate
and shall be payable, with interest. upon notice from Lender to Borrower requesting payment.
BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained in this PUD
Rider.
bfLL Q-w
(Seal)
-Borrower
i:i~E~dL-- .~
BY SIGNING BELOW, the undersigned Settlors of The Brent and Georgette Kendall
Family Trust under trust instrument dated April 14, 2006, for the benefit of Brent W.
Kendall and Georgette B. Kendall acknowledge all of the tern1S and covenants contained
in this Sectlrity Instrument and any rider( thereto an agree to be bound thereby.
\
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Settlor
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Settlor U ~
M1JL11SI'ATE PUD RIDER-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form Jt$O 1/01
(pag#! 2 012 pages)
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O~~i0848
SECOND HOME RIDER Loan Number 006.330296
THIS SECOND HOME RIDER is ¡nade this 28TH day of JUNE, 2007, and is incorporated into and shall be
deemed to amend and supplement the Mortgage, Deed of Tru.st, or Security Deed (the "Security Instrument") of
the 5ame date given by the undersigned (the "Borrower," whether there are one or more persons undersigned) to
secure BOlTower's Note 10 FIRST HORIZON HOME LOANS, A DMSION OF FIRST TE~SSEE
BANK NATIONAL ASSOCIATION (the "Lender") of the same date and covering the Propeny deacribed ill
the Security Instrument (the "Propeny"), which is located at:
38 PORTO CIRCLE, ST AR VALLEY RANCH, WYOMING 83127
[property Address]
In addition to the covenants and agreements made in the Security Instnunent, BOlTower and Lender further
covenanl and agree that Sections 6 and 8 of the Security !nSlrUment are deleted and are replaced by the
following:
6. Occupancy. BOlTower 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 owpership arrangement or to any
rental pool or agreement that requires Borrower either to rent the Property or give a management firm
or any other persQD any control over the occupancy or use oC the Property.
8. Borrower's LOBn Application. Borrower shall be in default if, during the Loan application
process. Borrower or any persons or entities acting at the dire<:tioß of Borrower or with Borrower's
knowledge or consent gave materially false, misleading, or inaccurate inConnation or statement5 to
Lender (or failed to provide Lender with material in(onnaûon) in conneclion with the Loan. Material
representations include, bur are not limited to. representations concerning Borrower's occupancy of the
Property as 'Borrower'a aecond borne.
BY SIGNING BELOW, Bonowcr w:cepli aod '2 """' and covenanli contained in !his Second Home
Rider. n
~ W~ (Seal)
BRENT W. KENDALL ·Borrower
JdTf#)KJ~
CEORGE B.KENDALL
(Seal)
·Borrower
(Seal)
·Borrower
BY SIGNING BELOW, the undersigned Settlors of The Brent and Georgette Kendall
Family Trust under trust instrument dated April 14, 2006, for the benefit of Brent W.
Kendall and Georgene B. Kendall acknowledge all of the terms and covenants contained
in this Security Instrument and any rider( thereto an gre to be bound thereby.
Settlor
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Settlor
MULTISTATE SECOND HOME RIDER-Singl/: Family-1'annle M ffreddle Mac UNIFORM INSTRUMENT Form 3890 1101
(part I af 1 pOlt)
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0930848
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RIDER TO SECURITY INSTRUMENT
Loan Number 0061330296
BY SIGNING BELOW, the undersigned Trus[or(s) of the THE BRENT AND GEORGE'ITE KENDALL
FA.MILY TRUST under trust inslIUment dated APRll..14, 2006, for the benefit of BRENT W. KENDALL AND
GEORGE'ITE B. KENDALL acknowledge(s) all of the terms and covenants contained in this Security
Instrument and any rider(s) the~e[O and agree to be bound thereby.
IJwQ ./J.{
flRENf W. KENDALL
(S~..I)
J1~~~L~II/
(Seal)
BY SIGNING BELOW, the undersigned Settlors of The Brent and Georgette Kendall
Family Trust under trust instrument dated April 14, 2006, for the benefit of Brent W.
Kendal1 and Georgette J3. Kendall acknowledge all of the tenns and covenants contained
. in this Security Instrument and any rider( thereto and gree to be bound thereby.
Settlor
~(d/LJt?~I)
Settlor
O~30S(18
SIGNATURE PAGE ATTACHMENT
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Loan Number 0001330296
(
BY SIGNING BELOW, the Borrower(s) accept(s) and agree(s) to the terms and covenants set forth herein
and in any rider(s) executed by Borrower(s) here attached.
BRENT W. KENDALL and GEORGETIE B. KENDALL Trustee(s) of the THE BRENT AND
GEORGE1TE KENDALL FAMILY TRUST. under the trust instruIIlent dated APRIL 14, 2006 for the benefit
of BRENT W. KENDALL AND GEORGE'M'E B. KENDALL.
BY SIGNING BEWW, the undersigned, Settlor(s) of the THE BRENT AND GEORGETTE KENDALL
FAMILY TRUST under trUSt instrument dated APRIL 14, 2006 for the benefit of BRENT W. KENDALL AND
GEORGETTE B. KENDALL acknowledge(s) all of the terms and covenants contained in this document and
in any rider(.} Ibereto and agree(.) 10 be bound thereby. /JQ
1~w~~
~~l\...r W. KENDALL ·Dale
Ji
GEORGE -Dale
~~.~
/ ·Dale
~A15K1j-.u0 VLfII/ld
V ~ -D,re
TOTAL P. 16