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Home My WebLink About931727 ~r 6010715667 Return To: ACADEMY MORTGAGE CORPORATION 4055 SOUTH 700 EAST, SUITE 200 SALT LAKE CITY, UTAH 84107 Attn.: SHIPPING DEPT./DOC. CONTROL Prepared By: RECEIVED 7/30/2007 at 4:35 PM RECEIVING # 931727 BOOK: 667 PAGE: 416 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 0004:1.6 [Space Abo,'e This Line For Recording Data) MORTGAGE ~ 1000608-0705009183-7 MERS TELEPHONE: (888) 679-6377 DEFINITIONS Words used in multiple sections of this document are defmed below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain mles regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated July 20, 2007, together with all Riders to this document. (B) "Borrower" is CODY SELLERS AND KELLIE SELLERS, HUSBAND AND WIFE. Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nonùnee for Lender and Lender's successors and assigns. MERS is the mortgagee under this SecUJity Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. CD) "Lender" is ACADEMY MORTGAGE CORPORATION, a UTAH COIl>oration. Lender is a corporation organized and existing under the laws of the State of UTAH. Lender's address is 4055 SOUTH 700 EAST, SUITE 200, SALT LAKE CITY, UTAH 84107. (E) "Note" means the promissory note signed by Borrower and dated July 20,2007. The Note states WYOMING-Single Family- Fannie Mae/FÌ'eddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page I of 15 J C-... Initials: ('? ~d ~ wycmertd 0004:1.7 that Borrower owes Lender One Hundred Sixty Thousand Two Hundred Seventy Three And 00/100 Dollars (U.S. $160,273.00) plus interest. Borrower has pronùsed to pay this debt in regular Periodic Payments and to pay the debt in full not later than August 1,2037. (F) "Propeliy" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, ,my prepayment charges and late charges due ooder the Note, and all sums due ooder tlùs Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument tllat are executed by Borrower. TIle following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Balloon Rider [ ] VA Rider [] Condonùnium Rider [] PlaImed Unit Development Rider [ ] Biweekly Payment Rider [] Second Home Rider [] 1-4 Fanùly Rider [X] Other(s) [specify] MANUF ACTURED HOME RIDER (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and adnÙl1istrative rules and orders (that have the effect of law) as well as all applicable [mal, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges tl1at are imposed on Borrower or the Property by a condomÌ1ùum association, homeowners association or sinùlar organization. (K) "Electronic Funds Transfer" means aI1Y traIlS fer of fWlds, other than a traIlS action originated by check, draft, or sinùlar paper instrument, which is initiated through all electronic temùnal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a fInancial institution to debit or credit an accow1t. Such tenn includes, but is not limited to, point-of-sale transfers, automated teller machine traIlS actions, transfers Í1ùtiated by telephone, wire transfers, émd automated clearinghouse transfers. (L) "Escrow Items" means those items tllat are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of danlages, 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 tlle Property; (iii) conveyance in lieu of condemnation; or (iv) nùsrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "MOIigage Insurance" means insurance protecting Lender against the nonpayment of, or default on, tlle Loan. (0) "PeIiodic Payment" means the regularly scheduled amount due for (i) principal aIld interest under the Note, plus (ii) any amounts under Section 3 of this Security Instmment. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) émd its implementing regulation, Regulation X (24 C.F.R. Part 3500), as tlley nùght be amended from time to time, or any additional or successor legislation or regulation that govems tlle same su~ject matter. As used in tl1Ís Security Instmment, "RESP A" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if tlle Loan does not qualify as a "federally related mortgage loan" wlder RESP A. (Q) "Successor in Interest of Borrower" meaIIS any party that has taken title to tlle Property, WYOMING-Single Family- FaßIÙe Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 2 of 15 ~ i 1 0'.' Initials: ~ 0004j.8 whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County [Type of Recording Jurisdiction] of LINCOLN [Name ofRecordmg Jurisdiction]: MANUFACTURER'S NAME: 20TH CENTURY HOMES MODEL: GOLDENSTATE MODEL YEAR: 2007 MODEL NUMBER: 3003 SERIAL NUMBER: 307 KID 1830 A&B LENGTH AND WIDTH: 66' 0" X 26' 8" LOT 38 OF VIOLA SUBDMSION PHASE NO.1, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT FILED ON JULY 3, 1983 AS INSTRUMENT NO. 600082 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. Parcel ill Number: 12-2614-11-2-03-005.00 which currently has the address of 1446 BAILEY LOOP [Street] LA BARGE[City], Wyoming 83123 [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fIxtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell 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 SECURITY INSTRUMENT combines unifonn covenants for national use and non- unifonn covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 3 of 15 Initials: 0004::1.9 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrowershall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instnunent received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following fonus, as selected by Lender: (a) cash; (b) money order; (c) certified check, bal1k check, treasurer's check or cashier's check, provided any such check is drawn upon ~m institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retool any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the LOall current, without waiver of allY rights herelUlder or pr~iudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the tinle such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on lUlapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the LOall current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balallce under the Note inmlediately prior to foreclosure. No offset or claim wlùch Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument orperfonning the covenants alld agreements secured by this Security Instnmlent. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amolmts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in whicll it becanle due. Any remaining amounts shall be applied first to late charges, second to any other anlounts due under this Security Instrument, and then to reduce the principal balallCe of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment whicll includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment alld the late charge, If more thall one Periodic Payment is outstallding, Lender may apply allY payment received from Borrower to the repayment of the Periodic Payments if, and to the extent tIlat, each payment can be paid in full. To the extent tIlat any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to allY late charges due. Voluntary prepayments shall be applied first to any prepayment charges and tIlen as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of tile Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until tile Note is paid in full, a sum (tile "Funds") to provide for payment of amolUlts due for: (a) taxes and assessments and otIler items which Call attain priority over this Security Instnlment as a lien or encumbrance on the Property; (b) leasehold payments or grOlmd rents on tile Property, if any; (c) premiums for any alld all insurance required by Lender under Section 5; and (d) WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 4 of 15 ~ . Initials: ('.5 Cj 000420 Mortgage Insurance prenùums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at mlY time during the tenn of the Loml, Lender may require that ConUllmùty Association Dues, Fees, mId Assessments, if any, be escrowed by Borrower, mId such dues, fees mId assessments shall be éU1 Escrow Item. Borrower shall promptIy fumish to Lender all notices of éUnounts to be paid under this Section. Borrower shall pay Lender tIle Funds for Escrow Items unless Lender waives Borrower's obligation to pay tIle Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for mlY or all Escrow Items at any tinle. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the éU110unts due for mlY Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall funùsh 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 mId agreement contained in tlús Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directIy, pursuant to a waiver, and Borrower fails to pay the anlount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such éU110unt mId Borrower shall then be obligated under Section 9 to repay to Lender any such amOlmt. Lender may revoke tile waiver as to mlY or all Escrow Items at any time by a notice given in accordance with Section 15 mId, upon such revocation, Borrower shall pay to Lender all Funds, mId in such éU110unts, that are then required under tI1Ïs Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pemùt Lender to apply the Funds at tIle time specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate tile amount of Funds due on tile basis of current data and reasonable estimates of expenditures of future Escrow Items or otIlerwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federdl Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding éUld applying tile Funds, annually analyzing the escrow accomlt, or verifying tIle Escrow Items, Ullless Lender pays Borrower interest on the Funds and Applicable Law pem1Ïts Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the FIU1ds, Lender shall not be required to pay Borrower any interest or eamings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on tile Funds. Lender shall give to Borrower, without charge, éUl alUUlal accoUllting of tIle Funds as required by RESP A. If there is a surplus of Funds held in escrow, as defmed under RESP A, Lender shall accoUllt to Borrower for the excess funds in accordance WitIl RESP A. If there is a shortage of Funds held in escrow, as defmed under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amoUllt necessary to make up the shortage in accordance with RESP A, but in no more than 12 montlùy payments. If there is a deficiency of Funds held in escrow, as defmed Ullder RESP A, Lender shall notify Borrower as required by RESP A, éU1d Borrower shall pay to Lender tile amount necessary to make up tile deficiency in accordance with RESP A, but in no more tIléUl 12 montlùy payments. Upon payment in full of all sums secured by tI1Ïs Security Instrument, Lender shall promptly refund to Borrower éUlY Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to tile Property which CéU1 attain priority over tI1Ïs Security Instrument, WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 5 of 15 Initials: c';> ~ \!';... 000421 leasehold payments or ground rents on the Property, if any, and ConmlUnity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by tlle lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against elûorcement of the lien in, legal proceedings which in Lender's opinion operate to prevent tlle elÛorcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien eUl agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detenllines that any part of tlle Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on wlùch tllat notice is given, Borrower shall satisfy the lien or take one or more of tlle actions set forth above in tIùs Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with tIùs Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by flTe, hazards included witlùn the tenn "extended coverage," and any otller hazards including, but not linùted to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods tllat Lender requires. What Lender requires pursuant to tile preceding sentences can change during tile tenll of tlle Loan. The insurance carrier providing tlle insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in cOlUlection witll tllÍs Loan, either: (a) a one-time charge for flood zone detemùnation, certification and tracking services; or (b) a one-time charge for flood zone detemùnation and certification services and subsequent charges each time remappings or sinùlar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by tile 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 tile coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is IUlder no obligation to purcllase any particular type or amount of coverage. Therefore, SUcll coverage shall cover Lender, but nùght or might not protect Borrower, Borrower's equity in the Property, or tile contents of the Property, against any risk, hazard or liability and nùght provide greater or lesser coverage tIlan was previously in effect. Borrower acknowledges that the cost of tile insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any anlounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amolUlts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have tile right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid prenùums and renewal notices. If Borrower obtains any foml of insurance coverage, not otIlerwise 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 WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 6 of 15 II I Initials: ð rS!J 000422 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, 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 insunmce proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Ulùess 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 aqjusters, 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 shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a clainl, tllen Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In eitller 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 anloilllt not to exceed the amounts IUlpaid under tlle Note or this Security Instrument, and (b) éUlY otller of Borrower's rights (otller than the right to any refund of unearned premiums paid by Borrower) lUlder all insurance policies covering the Property, insofar as such rights are applicable to tlle 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 tlle execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably witlùleld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; InslJections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or conUllÍt 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 detemlined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in cOlmection witll damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring tlle Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as tlle work is completed. If the insurance or condenmation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS FOI'm 3051 1/01 Page 7 of 15 -","C:~ \) r--. Initials: ~ 000423 shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in defalùt if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate infonnation or statements to Lender (or failed to provide Lender with material information) in cOlUlection with the Loan. Material representations include, but are not limited to, representations conceming Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Propeliy and Rights Under this Security Instrument. If (a) Borrower fails to petfonn the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or fotfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/orrepairing the Property. Lender's actions can include, but are not linuted to: (a) paying any sums secured by a lien which has priority over this Security Instnllnent; (b) appearing in court; and (c) paying reasonable attomeys' fees to protect its interest in the Property and/or rights under tllÍs Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not linlÍted to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, elinúnate building or other code violations or dangerous conditions, and have utilities tumed on or off. AltllOUgh Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking éU1Y 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 tllÍs Security Instrument. l1lese amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, witll such interest, upon notice from Lender to Borrower requesting payment. If this Security hlstrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge UIÙesS Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making tlle Loan, Borrower shall pay tlle prenlÍums required to maintain the Mortgage hlsurance 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 prenlÍUlus for Mortgage Insurance, Borrower shall pay the prenlÍums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage hlsurance previously in effect, from an altemate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender tlle amount of the separately designated payments tllat were due when tlle insurance coverage ceased to be in effect. Lender will accept, use and retain tllese payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or eanungs on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage WYOMING-Single Family- Fanrúe Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 8 of 15 /. '" .! (/I. Initials: (...../ ~ 000424 (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 prenùums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the prenùums required to maintain Mortgage hlsurance 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 tennination or until ternÙ1lation is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on tenus 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 foods that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affùiate of any of the foregoing, may receive (directly or indirectly) amOlmts that derive from (or nùght be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying tlle mortgage insurer's risk, or reducing losses. If such agreement provides tllat an affiliate of Lender takes a share of the insurer's risk in exchange for a share of tlle premiums paid to tlle insurer, the arrangement is often tenned "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insunmce, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with resJ}ect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any othel" law. These rights may include the right to receive certain disclosures, to request and obtain canceJJation of the Mortgage Insurance, to have the Mortgage Insurance tenninated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such canceJJation or telmination. 11. Assignment of Miscellaneous Proceeds; FOIfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If tlle Property is dél1naged, such Miscellémeous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellél1leous Proceeds ootil Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided tllat such inspection shall be lmdertaken promptly. Lender may pay for the repairs él1ld restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not econonùcally feasible or Lender's security would be lessened, tlle Miscellél1leous Proceeds shall be WYOMING-Single Family- FanIÙe Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 9 of 15 Initials: c- '3 K5 000425 applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by tiús Security Instrument, whether or not tilen 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 wlúch the fair market value of the Property inunediately before tile partial taking, destmction, or loss in value is equal to or greater than tile amount of the sums secured by this Security Instrument inunediately before the partial taking, destruction, or loss in value, mùess Borrower and Lender otherwise agree in writing, tile sums secured by tilis Security Instrument shall be reduced by the amount of tile Miscellaneous Proceeds multiplied by tile following fraction: (a) the total amomlt of the sums secured inmlediately before tile partial taking, destruction, or loss in value divided by (b) the fair market value of tile Property inmlediately before tile partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of tile Property inunediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured inmlediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower tilat the Opposing Party (as deflrted in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply tile Miscellaneous Proceeds eitiler to restoration or repair of the Property or to the sums secured by this Security Instmment, 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 ill default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under tilis 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 disnússed with a mling that, in Lender's judgment, precludes forfeiture of the Property or other material impainnent of Lender's interest .in the Property or rights under this Security Instrument. The proceeds of any award or claim for danlages that are attributable to the impamnent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the SUlns secured by tIús Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release tIle 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 tilis Security Instrument by reason of any demand nlade by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without linlitation, 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 WYOMING-Single Family- FanIÚe MaelFhddie Mac UNIFORM INSTRUMENT WITH MERS FOI'm 3051 1/01 Page 10 of 15 Initials: é s 10 000426 remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs 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 tenus 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 acco1l11llodatiollS with regard to the tenns 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 Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument Imless Lender agrees to such release in writing. The covenants and agreements of this Security Instnuuent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services perfoffiled in connection with Borrower's default, for the pmpose 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 shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is [mally interpreted so that the interest or other loan charges collected or to be collected in cOlmection with the Loan exceed the pernritted linrits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the penuitted limit; and (b) any sums already collected from Borrower which exceeded pemritted linrits will be refunded to Borrower. Lender may choose to make tIris refund by reducing the principal owed Imder tile Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower nright have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in cOlmection with tI1Ìs Security Instrument must be in writing. Any notice to Borrower in cOlmection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by otIler means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. TIle notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through tIlat specified procedure. TIlere may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated anotIler address by notice to Borrower. Any notice in cOlmection witll tI1Ìs Security Instrument shall not be deemed to have been given to Lender wltil actually received by Lender. If any notice required by this Security Instrument is also required wIder Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security hlstrument. WYOMING-Single Family- FanIÚe Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page II of 15 II Initials: Cs -r-¡:J 000427 16. Governing Law; Severability; Rules of Constl1J.ction. 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 linùtations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it nùght be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event tllat any provision or clause of tlùs Security Instrument or the Note conflicts Witll Applicable Law, such conflict shall not affect other provisions of this Security Instmment 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 tlle feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of tlle Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in tlle Property" means any legal or beneficial interest in the Property, including, but not limited to, tllose beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of wlùch is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) Witllout Lender's prior written consent, Lender may require immediate payment in full of all sums secured by tlùs Security Instrument. However, tlùs option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises tl1Ís option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from tlle date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to tlle e},.'Piration of this period, Lender may invoke any remedies pennitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of tl1Ís 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 Instrument; (b) such otller period as Applicable Law n1Íght specify for the tennination of Borrower's right to reinstate; or (c) entry of a judgment enforcing tlùs Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums wlùch then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures .my default of any otller covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not linùted to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for tlle putpose of protecting Lender's interest in the Property and rights under tI1Ís Security Instmment; and (d) takes such action as Lender may reasonably require to assure tIlat Lender's interest in tile Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instmment, 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 a federal agency, instrumentality or entity; or (d) ElectrOl1Íc Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully WYOMING-Single Family- Farmie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 12of15 . 1/0 Initials: é5 p-- . 000428 effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Service!"; Notice of Glievance. TIle Note or a partial interest in the Note (together with this Security Instmment) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due IDlder the Note and this Security Instrument and perfomlS other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan 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 wlúch payments should be made and any other infomlation RESP A requires in cOlmection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will renlain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser UIÙess othetwise provided by the Note purchaser. Neither Borrower nor Lender may conunence, 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 Instrument 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 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of tlús 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. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defmed as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flanmlable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fomlaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defmed in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or othetwise trigger an Environmental Cleanup. Borrower shall not cause or pemút the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. TIle 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 nomlal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of wlúch Borrower has actual WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 13 of 15 t""''S 11-,,_ Initials: ~ OÓ0429 knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) é:U1Y condition caused by the presence, use or release of a Hazardous Substance w lúch adversely affects the value of the Property. If Borrower leams, or is notified by any govemmental 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 Witll 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 SecUlity Instl1.lment (but not prior to acceleration under Section 18 unless Applicable Law provides othenvise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to BOlTower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this SecUlity Instl1.lment and sale of the Property. The notice shall further inform BOlTower of the right to reinstate after acceleration and the right to bring a cOUli action to asseli the non-existence of a default or any other defense of BOlTower to accelenation and sale. If the default is not cured on or before the date specified in the notice, Lender at its Ol)tion may require immediate payment in full of all sums secured by this Security Instl1.lment without fUliher demand and may invoIce the power of sale and any other remedies pennitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in lJUrsuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invol{es the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Propeliy, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Propeliy shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be apI)lied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instl1.lment; and (c) any excess to the person or persons legally entitled to it. 22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is pemútted under Applicable Law. 23. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 14 of 15 Initials:CS K~ 000430, BY SIGNING BELOW, Borrower accepts and agrees to the tenus and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: dS;h SELLERS (Seal) -Borrower ~ 'c _llu~/(t~AA-· KÉL IE SELL (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower STATE OF WYOMING, TIle foregoing instrument was acknowledged before me this D2# cI::t by CODY SELLERS and KELLIE SELLERS, County ss: ,r¿'¡; r/ ~,;lt!:) 7 My Commission EXPires:¿ì~64¿?~ çþi ~-, Notary Pu he LORI KALAN - NOTARY PUBLIC STATE OF WYOMING COUNlY OF LINCOLN My Commission Expires Feb. 26, 2011 WYOMING-Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Page 15 of 15 000431. Manufactured Home Rider to Security Instrument This rider is made this 20th day of July, 2007, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, Security Deed (the "Security Instrument") of the sanIe date given by the undersigned (the "Borrower") to secure Borrower's Note (the "Note") to: ACADEMY MORTGAGE CORPORATION, a UTAH Corporation (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 1446 BAILEY LOOP, LA BARGE, WYOMING 83123 (property address) Additional Covenants. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: I. Meaning of Some Words, As used in this Rider, the term "Loan Documents" means the Note, the Security Instrument and any Construction Loan Agreement, and the term "Property", as the term is defined in the Security Instrument; includes the "Manufactured Home" described in paragraph 3 of this Rider. All terms defmed in the Note and Security Instrument shall have the same meaning in this Rider. 2. Purpose and Effect of Rider. If there is a conflict between the provisions in this Rider and those in the Security Instrument, the provisions in this Rider shall control the conflicting provisions in the Security Instrument, will be eliminated or modified as much as is necessary to make all of the conflicting tenns agree with this Rider. 3. Lender's Security Interest. All of Borrower's obligations secured by the Security Instrument also shall be secured by the Manufactured Home: MANUFACTURER'S NAME: 20TH CENTURY HOMES MODEL: GOLDENSTATE MODEL YEAR: 2007 MODEL NUMBER: 3003 SERIAL NUMBER: 307 KID 1830 A&B LENGTH AND WIDTH: 66' 0" X 26' 8" 4. AffIxation. Borrower covenants and agrees Page I of 4 wfmhrid 000432 a. to affIx the Manufactured Home to a pennanent foundation on the Property; b. to comply with all Applicable Law regarding the affixation of the Mcmufactured Home to the Property; c. upon Lender's request, to surrender the certificate of title to the Mcmufactured Home, if surrender is pernùtted by Applicable Law, and to obtain tlle requisite governmental approval and documentation necessary to classify the Manufactured Home as real property under Applicable Law; d. that affixing the Manufactured Home to the Property does not violate cmy zOIÙng laws or other local requirements applicable to the Property; e. that the Manufactured Home will be, at all times and for all pmposes, affixed to and part of the Property. 5. Charges; Liens. Section 4, Paragraph 1 of the Security Instrument is amended to add a new tlùrd sentence to read: Borrower shall promptly furnish to Lender all notices of cmlounts to be paid under this paragraph and receipts evidencing the payments. 6. Property Insurance. Section 5, Paragraph 1 of tlle Security Instrument is amended to add a new second sentence to read: Whenever tlle Manufactured Home is transported on tlle highway, Borrower must have trip insurance. 7. Notices. The second sentence of Section 15 of the Security Instrument is anlended by inserting the words "unless otherwise required by law" at the end. 8. Additional Events of Default. Borrower will be in default under the Security Instrument: a. if any stmcture on the Property, including the Manufactured Home shall be removed, demolished, or substcmtially altered; b. if Borrower fails to comply Witll any requirement of Applicable Law (Lender, however, may comply cmd add tlle expense of the principal balance Borrower owes to Lender); or c. if Borrower grants or pennits any lien on the Property other than Lender's lien, or liens for taxes cmd assessments that are not due and payable. 9. Notice of Default. If required by Applicable Law, before using a remedy, Lender will send Borrower any notice required by law, and wait for any cure period that the law may require for that remedy. Page 2 of 4 c5 k? 000433 10. Additional Rights of Lender in Event of Foreclosure and Sale. In addition to those rights granted in the Note and Security Instnnnent, Lender shall have the following rights in the event Lender commences proceedings for the foreclosure and sale of the Property. a. At Lender's option, to the extent pemritted by Applicable Law, Lender may elect to treat the Manufactured Home as personal property ("Personal Property Collateral"). Lender may repossess peacefully from the place where the Personal Property Collateral is located without Borrower's pemùssion. Lender also may require Borrower to make the Personal Property Collateral available to Lender at a place Lender designates that is reasonably convenient to Lender and Borrower. At Lender's option, to the extent pennitted by Applicable Law, Lender may detach and remove Personal Property Collateral from the Property, or Lender may take possession of it and leave it on the Property. Borrower agrees to cooperate with Lender if Lender exercises these rights. b. After Lender repossesses, Lender may sell the Personal Property Collateral and apply the sale proceeds to Lender's reasonable repossession, repair, storage, and sale expenses, and then toward any other anlounts Borrower owes under the Loan Documents. c. In the event of any foreclosure sale, whether made by Trustee, or under judgment of a court, all of the real and Personal Property Collateral may, at the option of Lender, be sold as a whole or in parcels. It shall not be necessary to have present at the place of such sale the Personal Property Collateral or any part thereof. Lender, as well as Trustee on Lender's behalf, shall have all the rights, remedies and recourse with respect to the Personal Property Collateml afforded to a "Secured Party" by Applicable Law in addition to, and not in limitation of, tile other rights and recourse afforded Lender and/or Trustee under tile Security Instrument. By signing below, Borrower accepts and agrees to the tenus and covenants contained in this Rider. Sìt DV SELLERS (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Page 3 of 4 STATE OF Wyoming COUNTY OF Lincoln 000434 I, the undersigned Notary Public, in and for the aforesaid State and County, do hereby certify that CODY SELLERS and KELLIE SELLERS (Borrowers). Personally appeared before me in said County and ac~wledged the within instrument to be their act and deed. Given lmder my hand and seal this ~ day of ,...:7;;::f '" -Z&1 '7 '. LOÁ..,.-NOTAAVNU ~// ~/ COUNTY OF STATE OF ~ _ LINCOLN WYOMING Notary Public My Commission Expires Feb. 26, 2011 State of Wyoming Lincoln County of My commission expires 02/26/2011 Page 4 of 4