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APTER RECORDING PLEASE RETURN TO:
PHHLC - POST CLOSING MAIL ROOM
RECEIVED 9/5/2006 at 9:10 AM ___/
RECEIVING.!-922&s-r---
B~;'--6'3~ PAGE: 637
~ JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
1555 W WALNUT HILL LN #200 MC 671t
IRVING, TX 75038 _ MORTGAGE
0058756990
MIN 100085200587569908
THIS MORTGAGE is made this 24th
STACEY NORRED, An Unmarried Woman
day of August, 2006
, between the Mortgagor,
RECEIVED 1213/2007 at 4:26 PM
RECEIVING # 935327
BOOK: 680 PAGE: 293
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
000293
(herein "Borrower"), and the Mortgagee,
Mortgage Electronic Registration Systems, Inc. ("MERS"), (solely as nominee for Lender, as hereinafter defined, and Lender's
successors and assigns), 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.
PIRST HORIZON HOME LOAN' CORPORATION
existing under the laws of
4000 Horizon Way
Irving, Texas 75063
WHEREAS, Borrower is indebted to Lender in the principal sum of U.S. $ 37,980.00, which
indebtedness is evidenced by Borrower's note dated August 24th, 2006 and extensions and renewals
thereof (herein "Note"),providing for monthly installments of principal and interest, with the balance of indebtedness, if not sooner
paid, due and payable on September 1st, 2021
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the payment of all
other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mortgage; and the performance of
the covenants and agreements of Borrower herein contained, 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 of Lincoln
State of WY0IIÙng:
All that tract or parcel of land as shown on Schedule "A" attached.
hereto which is incorporated herein and made a part hereof.
THE STATE OP KANSAS
, ("Lender ") is organized and
, and has an address of
~ ~ ,
{iJ
[City), Wyoming 83127
[Street)
[Zip Code) (herein "Property Address");
which has the address of
THAYNE
83 BARBERRY WAY
TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances and
rents, all of which shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing,
together with said property (or the leasehold estate if this Mortgage is on a leasehold) are hereinafter referred to as the "Property."
Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Mortgage; 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 or canceling this Mortgage.
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 covenants that
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of
record.
UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
1. Payment of Principal and Interest, Borrower shall promptly pay when due the principal and interest indebtedness
evidenced by the Note and late charges as provided in the Note.
2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender
on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum
/
Initials:
Form 3851
Amended 2/01
WYOMING - SECOND MORTGAGE - 1/80 - FNMA/FHLMC UNIFORM INSTRUMENT WITH MERS
Page 1 of 4
. -76N(WY) (0308) VMP Mortgage Solutions, Ino. (800)521-7291
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<BEING RERECORDED TO REMOVE RIDER
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(herein "Ftúìds ") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned unit development
assessments, if any) which may attain priority over this Mortgage and groood rents on the Property, if any, plus one-twelfth of
yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any,
all as reasonably estimated initially and fiom time to time by Lender on the basis of assessments and bills and reasonable estimates
thereof. Borrower shall not be obligated to make such payments of Foods to Lender to the extent that Borrower makes such
payments to the holder of a prior mortgage or deed of trust if such holder is an institutional lender .
If Borrower pays Foods to Lender, the Foods shall be held in an institution the deposits or accooots of which are insured or
guaranteed by a federal or state agency (including Lender if Lender is such an institution), Lender shall apply the Funds to pay said
taxes, assessments, insurance premiums and groood rents. Lender may not charge for so holding and applying the Foods, analyzing
said accooot or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Foods and
applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest on the Foods shall be paid to Borrower, and unless such agreement is made or applicable law requires such
interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Foods. Lender shall give to
Borrower, without charge, an annual accoooting of the Foods showing credits and debits to the Foods and the purpose for which
each debit to the Funds was made. The Foods are pledged as additional security for the swns secured by this Mortgage.
If the amoWlt of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due
dates of taxes, assessments, insurance premiwns and groood rents, shall exceed the amooot required to pay said taxes, assessments,
insurance premiwns and groood rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to
Borrower or credited to Borrower on montbly installments of Foods. If the amooot of the Foods held by Lender shall not be
sufficient to pay taxes, assessments, insurance premiwns and groood rents as they fall due, Borrower shall pay to Lender any
amooot necessary to make up the deficiency in one or more payments as Lender may require.
Upon payment in full of all swns secured by this Mortgage, Lender shall promptly refund to Borrower any Foods held by
Lender. If ooder paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no
later than immediately prior to the sale of the Property or its acquisition by Lender, any Foods held by Lender at the time of
application as a credit against the swns secured by this Mörtgage.
3, Application of Payments. Unless applicable law provides otherwise, all payments received by Lender ooder the Note and
paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower ooder paragraph
2 hereof, then to interest payable on the Note, and then to the principal of the Note.
4, Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations ooder any
mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage, including Borrower's
covenants to make payments when due. Borrower shall payor cause to be paid all taxes, assessments and other charges, fines and
impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or groood rents, if
any.
5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage," and such other hazards as Lender may require and in
such amounts and for such periods as Lender may require.
The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such
approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender
and shall include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the
policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has
priority over this Mortgage.
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.
If the Property is abandoned by Borrower, or if Borrower fails to respönd to Lender within 30 days fiom the date notice is
mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to
collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the swns secured by
this Mortgage.
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall
comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a
planned unit development, Borrower shall perform all of Borrower's obligations ooder the declaration or covenants creating or
governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit
development, and constituent documents.
7, Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Mortgage,
or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at Lender's
option, upon notice to Borrower, may make such appearances, disburse such swns, including reasonable attorneys' fees, and take
such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan
secured by this Mortgage, Borrower shall pay the premiums required to maintain such insurance in effect ootil such time as the
requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
Anyamooots disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts
shall be payable upon notice fiom Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall
require Lender to incur any expense or take any action hereunder.
8. Inspection, Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that
Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in
the Property,
9, Condemnation, The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and
shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has
priority over this Mortgage.
10, Borrower Not Released; Forbearance By Lender Not a Waiver, Extension of the time for payment or modification of
amortization of the swns secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to
release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to
commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. Any
forbearance by Lender in exercising any right or remedy hereooder, or otherwise afforded by applicable law, shall not be a waiver
of or preclude the exercise of any such right or remedy.
Initials:
~
. -76N(WY) (0308)
<!>
Page 2 of 4
Form 3851
-,
·;-.';~,h(~J~· ~ ".. .... ~
000295 OOOOù..7
11, Successors and Assigns Bound; Joint and Several Liability; Co-signers, The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject
to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who
co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that
Borrower's interest in the Property to Lender under the tenus of this Mortgage, (b) is not personally liable on the Note or under
this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any
other accommodations with regard to the tenus of this Mortgage or the Note without that Borrower's consent and without releasing
that Borrower or modifying this Mortgage as to that Borrower's interest in the Property.
12, Notice, Except for any notice required under applicable law to be given in another mamer, (a) any notice to Borrower
provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any
notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may designate
by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to
Borrower or Lender when given in the mamer designated herein.
13, Governing Law; Severability, The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in
wlúch the Property is located. The foregoing sentence shall not limit the applicability of federal law to this Mortgage. In the event
that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other
provisions of this Mortgage or the Note wlúch can be given effect without the conflicting provision, and to this end the provisions
of this Mortgage and the Note are declared to be severable. As used herein, "costs," "expenses" and "attorneys' fees" include all
swns to the extent not prolúbited by applicable law or limited herein.
14, Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of
execution or after recordation hereof,
15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation,
improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option, may require
Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which
Borrower may have against parties who supply labor, materials or services in comection with improvements made to the Property.
16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is
sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without
Lender's prior written consent, Lender may, at its option, require immediate payment in full of all swns secured by this Mortgage,
However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less
than 30 days from the date the notice is delivered or mailed within which Borrower must pay all swns secured by this Mortgage. If
Borrower fails to pay these swns prior to the expiration of this period, Lender may invoke any remedies pennitted by this
Mortgage without further notice or demand on Borrower.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
Lender prior to acceleratiou shall give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach;
(2) the action required to cure such breach; (3) a date, not less than 10 days from the date the notice is mailed to Borrower,
by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice
may result in acceleration of the sums secured by this Mortgage, The notice shall further inform Borrower of the right to
reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense
of Borrower to acceleration and sale, If the breach is not cured on or before the date specified in the notice, Lender, at
Lender's option, may declare all of the sums secured by this Mortgage to be immediately due and payable without further
dem~d and may invoke the power of sale and any other remedies permitted by applicable law, Lender shall be entitled to
collect all reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph 17, including, but
not limited to, reasonable attorneys' fees,
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in
possession of the Property, if different, in accordance with applicable law, Lender shall mail a copy of a notice of the sale to
Borrower in the manner provided in paragraph 12 hereof. Lender shall publish the notice of sale and the Property shall be
sold in the manner prescribed by applicable law, Lender or Lender's designee may purchase the Property at any sale. The
proceeæ of the sale shall be applied in the following order: (a) to all reasonable costs and expenses of the sale, including,
but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this Mortgage; and (c)
the excess, if any, to the person or persons legally entitled thereto.
18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the swns secured by this Mortgage due to
Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued
at any time prior to the earlier to occur of (i) the fifth day before sale of the Property pursuant to the power of sale contained in this
Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all swns wlúch would be then due
under this Mortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or
agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the
covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph
17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) BOITower takes such action as Lender may reasonably
require to assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the swns secured
by this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligations secured
hereby shall remain in full force and effect as if no acceleration had occurred.
19, Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or
abandonment of the Property, have the right to collect and retain such rents as they become due and payable.
_ -76N(WY) (0308)
~
Initials:
~
Page 3 of 4
Fonn 3851
i., ,) \:~~ I\...!; ~'~,~ "...t -...
000296
Upon acceleration WIder paragraph 17 hereof or abandomnent of the Property, and at any time prior to the expiration of any
period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, shall be entitled to
enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents
collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of
rents, including, but not limited to, receiver's fees, premiwns on receiver's bonds and reasonable attorneys' fees, and then to the
sums secured by this Mortgage. Lender and the receiver shall be liable to accoWIt only for those rents actually received.
20. Release, Upon payment of all swns secured by this Mortgage, Lender shall release this Mortgage without charge to
Borrower, Borrower shall pay all costs of recordation, if any.
21. Waiver of Homestead, Borrower hereby waives all right of homestead exemption in the Property.
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has priority
over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any default under the
superior encumbrance and of any sale or other foreclosure action.
;;;:;;~:l 00 "'c~d :ü:-ge.
STACEY NORRED -Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
[Sign Original Only]
STATE OF WYOMING,
LINCOLN
County ss:
by
The foregoing instrument was acknowledged before me this c;ì~ ~ C) ç Otu..bLtbt- "21JòG
STACEY NORRED
My Commission Expires:
CHERYL A. JONES - NOTARY PUBUC
County of l.a Stale of
Uncoln W Wyoming
My Commission Expires Feb. 4, 2009
0058756990
. -76N(WY) (0308)
Œ>
Page 401 4
Form 3851
000297
Upon acceleration under paragraph 17 hereof o~ abando11ID,ent of the Property, and at any time prior to the expiration of any
period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed reeeiver, shall be entitled to
enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents
collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of
rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the
sums secured by this Mortgage. Lender and the receiver shall be liable to account only for those rents actually received.
20, Release. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage without charge to
Borrower, Borrower shall pay all costs of recordation, if any.
21. Waiver of Homes.tead. Borrower hereby waives all right of homestead exemption in the Property.
REQUEST FOR NOTICE OF DEFAULT
AND FORECLOSURE UNDER SUPERIOR
MORTGAGES OR DEEDS OF TRUST
Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has priority
over this Mortgage to give Notice to Lender, at Lender's address set forth on page one of this Mortgage, of any default under the
superior encumbrance and of any sale or other foreclosure action.
IN WITNESS WHBREOF';;;;;;;J oxocutod Ibj, MO"gag..
¡¿~~,_.' (S.ü)
STACEY NORRED . -Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
[Sign Original Only}
STATE OF WYOMING,
LINCOLN
. :Cømaty ss:
The foregoing instrwnent was acknowledged before me tills
by STACEY NORRED
ll-2Pt-O--=t
My Commission Expires: D"'Y -Ù~
~WJ'
. - _._ n:\__ _ __ . "_ ,
.........~. ",
Notary Public ' ,
CHERYL A. JONES·~NO.TARY PUBLIC
county or State of
Unco/n ~
My Commission Expires Fob, 4, 2009
. -76N(WY) (0308)
<B>
Page 401 4
Form 3851
0058756990
'.'''':) ~...,~·M,I'!IJ·"- ,~V '--" ......
ORDER NUMBER: NTL-I022
, EXBmIT" A"
000298
000641
LOT 16 OF STAR VALLEY RANCH PLAT S, LINCOLN COUN1Y, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT
THEREOF.
000299
BALLOON PAYMENT RIDER
TO THE SECURITY INSTRUMENT
BOrrower Name: STACEY NORRED
Property Address: 83 BARBERRY WAY
THAYNE, WY 83127
Loan Number:
0058756990
THE TERMS OF THE LOAN CONTAIN PROVISIONS WHICH WILL REQUIRE A BALLOON PAYMENT
AT MATURITY.
THE AMORTIZATION OF PRINCIPAL AND INTEREST IS BASED ON A 30 YEAR FACTOR AND
WOULD AMORTIZE THE PRINCIPAL LOAN ON A 30 YEAR SCHEDULE, BUT SINCE THE FULL
BALANCE IS PAYABLE IN 180 MONTHS, A BALLOON PAYMENT OF $ 31,565.47 WILL
BE REQUIRED ON September 1st , 2021
The loan is payable in full at the end of 15 year(s). You must repay the entire principal balance of
the loan and Û1e unpaid interest then due. The lender is under no obligation to refInance the loan at Û1at time,
You will, therefore, be required to make payment out of other assets you may own, or you will have to fmd a
lender willing to lend you Û1e money at the prevailing market rate, which may be considerably higher or lower
than Û1e rate on Û1is loan.
If you refinance this loan at maturity, you may have to pay some or all closing costs normally associated with a
new loan, even if you obtain refmancing from Û1e same lender.
I/We hereby acknowledge receipt of the above notice relating to the balloon payment provision of this loan, which
have also been eXplained to me/us.
ST~-fê %rr¡yj -~"~~
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
Balloon Payment Rider - No CRR 0605
Page 1 of 1
FH6D03X
000300
BALLOON PAYMENT RIDER
TO THE SECURITY INSTRUMENT
Borrower Name: STACEY NORRED
Property Address: 83 BARBERRY WAY
THAYNE, WY 83127
Loan Number:
0058756990
THE TERMS OF THE LOAN CONTAIN PROVISIONS WHICH WILL REQUIRE A BALLOON PAYMENT
AT MATURITY,
THE AMORTIZATION OF PRINCIPAL AND INTEREST IS BASED ON A 30 YEAR FACTOR AND
WOULD AMORTIZE THE PRINCIPAL LOAN ON A 30 YEAR SCHEDULE,BUT SINCE THE FULL
BALANCE IS PAYABLE IN 180 MONTHS,ABALLOONPAYMENTOF$ 31,565,47 WILL
BE REQUIRED ON September 1st , 2021
The loan is payable in full at the end of 15 year(s). You must repay the entire principal balance of
the loan and the unpaid interest then due. The lender is under no obligation to refmance the loan at that time.
You will, therefore, be required to make payment out of other assets you may own, or you will have to fmd a
lender willing to lend you the money at the prevailing market rate, which may be considerably higher or lower
than the rate on this loan.
If you refInance this loan at maturity, you may have to pay some or all closing costs normally associated with a
new loan, even if you obtain refmancing from the same lender.
IIWe hereby acknowledge receipt of the above notice relating to the balloon payment provision of this loan, which
.have also been explained to me/us,
ST~-~"
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
Balloon Payment Rider - No CRR 0605
Page 1 of1
FH6D03X
, .~ ""__!j:' / '(Þ ~ it t",~ '~:; .
~:¡ '-~, .1.,'~J '''49 ,..'1 _..J ~
000643
ooo~o...
PLANNED UNIT DEVELOPMENT RIDER
THIS PLANNED UNIT DEVELOPMENT RIDER is made this 24th day of
August, 2006 ,and is incorporated into and shall be
deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the
"Security Instrument") of the same date, given by the undersigned (the "Borrower") to
secure Borrower's Note to
FIRST HORIZON HOME LOAN CORPORATION
(the "Lender") of the same date and covering the Property described in the Security
Instrument and located at:
83 BARBERRY WAY, THAYNE, 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
Covenants, Conditions and Restrictions of Record
(the "Declaration"). The Property is a part of a planned unit development known as
STAR VALLEY RANCH HOA
[Name of Planned Unit Development]
(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
Instrument, Borrower and Lender further covenant and agree as follows:
A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the
PUD's Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii)
articles of incorporation, trust instrument or any equivalent document which creates the
Owners Association; and (iii) any by-laws or other rules or regulations of the Owners
Association. Borrower shall promptly pay, when due, all dues and assessments imposed
pursuant to the Constituent Documents.
0058756990
MUL TISTATE PUD RIDER - Single Family/Second Mortgage
Page 1 of 3
VMP Mortgage Solutions, Inc. (800)521-7291
- . / 3/99
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S-207R (0411)
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B. Hazard Insurance, 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 fire, hazards included within the term
"extended coverage," and any other hazards, including, but not limited to, earthquakes and
floods, for which Lender requires insurance, then: (i) Lender waives the provision in
Uniform Covenant 2 for the monthly payment to Lender of the yearly premium installments
for hazard insurance on the Property; and (ii) Borrower's obligation under Uniform
Covenant 5 to maintain hazard 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 a condition of this waiver can change during the term of the
loan.
Borrower shall give Lender prompt notice of any lapse in required hazard insurance
coverage provided by the master or blanket policy.
In the event of a distribution of hazard 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 Lender. Lender
shall apply the proceeds to the sums secured by the Security Instrument, whether or not
then due, with the excess, if any, paid to Borrower.
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 form, 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 Property 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 Instrument as
provided in Uniform Covenant 9.
E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with
Lender's prior written consent, either partition or subdivide the Property or consent to: (i)
the abandonment or termination of the PUD, except for abandonment or termination
required by Jaw in the case of substantial destruction by fire or other casualty or in the case
of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the
"Constituent Documents" if the provision is for the express benefit of Lender; (iii)
termination of professional management and assumption of self-management of the
Owners Association; or (iv) any action which would have the effect of rendering the public
liability insurance coverage maintained by the Owners Association unacceptable to ~nde/
Initials: .Y"--/
. -207R (0411) Page 2 of 3 3/99
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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 paragraph F shall
become additional debt of Borrower secured by the Security Instrument. Unless Borrower
and Lender agree to other terms of payment, these amounts 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. I
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STACEY NORRED -Borrower
(Seal)
-Borrower
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-Borrower
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-Borrower
(Seal)
-Borrower
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-Borrower
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-Borrower
0058756990
G-207R (0411)
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Page 3 of 3
3/99
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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 paragraph F shall
become additional debt of Borrower secured by the Security Instrument. Unless Borrower
and Lender agree to other terms of payment, these amounts 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. .
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-Borrower
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0058756990
G-207R (0411)
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Page 3 of 3
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3/99
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0058756990
RIDER TO DEED OF TRUST/MORTGAGE/SECURITY DEED
Date:
8/24/2006
The escrow of taxes ami insurance required in Paragraph 2 of your DEED OF
TRUST/MORtGAGE/SECURITY DEED to
FIRST HORIZON HOKE LOAN CORPORATION
is hereby waived and you are notified that you are not required to deposit with
FIRST HORIZON HOME LOAN CORPORATION
any of the amounts $et forth in said paragraph, provided:
(a) Escrows for future taxes and insurance premiums are being collected and maintained by
the bolder or servicer of the mortgage loan superior to our lien; or
(b) If you pay your own taxes and insurance premiums, you fulfill your obligation to keep
taxes and insurance premiums current with fe$pect to the property secured hereby.
This waiver does not, in any way, release you from your obligation to make escrow payments of taxes
and insurance to the holder of any prior mortgage, nor does it relieve you of your obligaûon to keep
taXes and insurance premiums CWTent with respect to the secured property.
All payments will be applied first to the accrued interest and next to the unpaid principal of your loan.
The exact amount of your final payment, fmance charge. and total of payments will be somewhat more
or less than the amounts shown if we do not receive each payment on the scheduled payment date,
RECEIPT ACKNOWLEDGED:
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2nd Rider
CB6D082 Revised 8/01
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0058756990
RIDER TO DEED OF TRUST/MORTGAGE/SECURITY DEED
Date:
8/24/2006
The escrow of taxes and insurance required in Paragraph 2 of your DEED OF
TRUST/MORtGAGE/SECURITY DEED to
rIRST HORIZON HOMS LOAN CORPORATXON
is hereby waived and you are notified that you are not required to deposit with
FIRST UORIZON HOME LOAN CORPORATION
any of the amounts set forth in said paragraph, provided:
(a) Escrows for future taxes and insurance premiums are being collected and maÎntàÎD.ed by
the holder or servicer of the mortgage Joan superior to our lien; or
(b) If you pay your own taxes and insurance premiums, you fulfill your obligation to keep
taxes and insurance premiums current with r~ct to the property secured hereby.
This waiver does not, in any way, release you from your obligation to D1Hke escrow payments of taxes
and insurance to the holder of any prior mortgage, nor does it relieve you of your obligation to keep
taxes and insurance premiums current with respect to the secured property,
All payments will be applied. fIrst to the accrued interest and next to me unpaid principal of your loan,
The exact mnount of your f11'UÚ payment, fmance charge, and total of payment9 will be somewhat more
or less than the amounts shown if we do not receive each payment on the scheduled payment date.
RECEIPT ACKNOWLEDGED:
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2nd Rider
CB6D082 Revised 8/01
90'd
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68:~T 900~-08-ÐfiV