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Home My WebLink About937746 Loan No: Borrower: 148002811 DAVID C. WOODS Data ID; 457 Return to; ANB FINANCIAL, N,A. ATrENTION: CINDY BURNETT P,O. BOX 699 BENTONVILLE, AR 72712 000191. lv\ '\~5 [Spoco Abov. Thle Un. For Recording Oola] MORTGAGE MIN: 100157600000951216 m:FlNITIONS Words used in multiple sections of thi5 docwnenl are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16, (A) "Security Instrument" means this document, which is dated March 17, 2008, together with all Riders to this document. (B) "Borrower" is DAVID C, WOODS . HUSBAND AND WIFE AND ANGELA R. WOODS , HUSBAND AND WIFE ,Borrower is the mortgagor under this Security Instrument. ' (C) "MERS" is Mortgage Electronic Regislration Systems, IDe. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns, MERS IN the mortgagee under thiN Security Inmoment. MERS is organi¡ed 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. (D) "Lender" is ANB FINANCIAL, N.A. Lender is A CORPORATION organized and emting under the laws of The United States of America. Lender's address is P.O. BOX 699 BENTONVllLE, AR 72712. (E) "Note" means the promissory note signed by Borrower and dated March 17, 2008. The Note states that Borrower owes Lender THREE HUNDRED THOUSAND and NO/l00----UolIlITII (U.S. $ 3110,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in Iull not later than April I, 2038. (F) "Property" means the property that ís described below under the heading "Transfer of Rights in the Property.n (G) "Lonn" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. ~!l (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower, The following Riders are to be executed by Borrower [check box as applicable]: ([,;f 1¡J Adjustable Rate Rider o Balloon Rider o 1-4 Family Rider o Other( s) [specify] o Condominium Rider 0 Second Home Rider o Planned Urnt Development Rider o Biweekly Payment Rider RECEIVED 3/21/2008 at 1 :02 PM RECEIVING # 937746 BOOK: 690 PAGE: 191 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WYr WYOMING. Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (Page I of 11 Pages) 0001.92 Loan No: 148002811 Data ID: 457 (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) l1li well l1li all applicable final, non-appea]able judicial opinions. (J) "Community Association Dues, Fees, and Assessments" meam all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teUer machine transactions, transfen initiated by telephone, wire transfers, and automated clè8ringhoUðC transfers. (I.) "Escrow Items" means those items that are described in Section 3, (M) ''MJsœllaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ü) condemnation or other taking of all or any part of the Property; (ill) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions l1li to, the value and/or condition of the Property. (N) "Mortga~ Insuranœ" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, phlll (ü) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Selllernent Procedures Act (12 U.S,c. §2601 et SC(,) and ilB implementing regulation, Regulation X (24 C.F.R, Part 35(0), l1li they núght be amended from time to lime, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESP An refers to all requirements and restrictions that arc imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loon" under RESPA. (Q) "Sul:Ccssor In Interest of Borrower" means any party that has taken title to the Property, whether or not that party hllll assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGIITS IN THE PROPERlY This Security Instrument secures to Lender: (i) the repayment of the Loan, and aD renewals, extensions ' and modificatiom of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security In,trument 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 tbe sUCCC3S0rs and assigns of MERS, with power oC sale, the following described property located in the County of UNCOLN: LOT 73 OF ALPINE MEADOWS SUBDIVISION, UNCOLN COUNTY, WYOMING, AS SHOWN ON TIlE OFFICIAL PLAT 'IHEREOF FILED AUGUST 23, 2005, AS RECEIVING NO. 911176, IN TIlE OFFICE OF TIlE CLERK, LINCOLN COUNTY, WYOMING, AS PLAT NO, 206-A. WYOMING. 91ngle Family - P""n" Mae/P,eddle Møo UNIPORM INSTRUMENT Ponn 3051 1/01 (Psge 2 of 11 Pages) 000193 Loan No: 148002811 Data lD: 457 which currently has the addfCIIS of 12 ASTER LOOP, (Street) ~flNE, WYOMING TOGETIIER WTIH all the improvements now or hereafter erected on the properly, and aU easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security InstrumenL All of the foregoing Is referred to in this Security Instrument as the "Property," Borrower understands and agrees that MERS holds only legal Lille to the interests granted by Borrower in this Security Instrument, but, if neceasary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) bas 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 thiq Security Instrument. M,,1~1 ("Property Address"): BORROWER COVENANTS that Borrower Js lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and lhat the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against aU claims and demands, subject to any encumbrances of record. TIllS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as foUows: 1. Payment or Principal, Interest, Elicrow Items, Prepayment l.1Jarges, 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. BOJ'l'OWCr shall also pay Cunds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be IÌl8de in U,S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or aU subsequent payments due under the Note and this Security Instrument be made in one or more of the following fOfIIII, as selected by Lender: (a) cash; (b) money order.jC certified check, bank check, treasurer's check or cashier's check, provided any such check is dra upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or ) Electronic Funds Traw. er. Payments are deemed received by Lender when received at the I cation designated in the Note or at such other location as may be designated by Lender in aecorda with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current, Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rigbts hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied Cunds until Borrower makes payment to bring the Loan 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 balance under the Note inunediately prior to foreclosure. No offset or claim which Borrower might have now or' in the future against Lender shaD relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreemenls secured by this Security InstrumenL 2. Application of I>Uyments or Proceeds. Except as otherwise described in this Section 2, aU 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) amounts due under Section 3, Such payments shall be applied to each Periodic Payment in the order in which it became due, Any remaining amounts shall be applied fÏIst to late charges, second to any other amounts due under this Security InstrlDDent, and then to reduce the principal balance of the Note. If Lender receive¡ a payment Crom Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full Jll!yment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments sball be applied first 10 any prepayment charges and then as dcscnbed in the Note. Any application of paymenls. insurance proceeds. or MioIcellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. WYOMING. Single Famlly·Fannle Mae/Freddie Mao UNIFORM INSTRUMENT Form 3051 1/01 (Page 3 of 11 Paf/8S) 0001.94 Loan No: 148002811 Data ill: 457 3. Funds Cor Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in fuI~ a sum (the "Funds') to provide for payment of amounts due for: (a) taxes and 35sessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insuranœ premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of MorLgage Insurance premiums in acrordance wiLh Lhe provisions of Section 10. These ilems are called 'Escrow Items." AI origination or aL any time during the term of the Loan, Lender may require that Community Associalion Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notiCCII of amounts Lo be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation Lo pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay Lo Lender Funds for any or all Escrow Items at any lime. Any such waiver may onJy be in writing. In the event oC such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Fund& has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require, Borrower's obligalion to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase 'covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise ils rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 Lo repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in acrordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3, Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender 10 apply the Funds at the time specified under RESP A, and (b) not to aceed the maximum amount a lender can require under RESP A Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. 1be 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 Federal 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 and applying the Funds, annually analyzing the escrow acrount, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on Lhe Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESP A If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall accoünt to Borrower for the excess funds in acrordance with RESP A If there is a shortage of Funds held in escrow, 35 defined under RESP A, Lender shall notify Borrower 35 required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shorLage in accordance with RESP A, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount neoessary to make up the deficiency in acrordance with RESP A, but in no more than 12 monthJy payments. Upon paymenL in full of all sums secured by this SecuriLy Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Uens. Borrower shall pay all taxes, assessmenls, charges, fines, and impositions aLtrlbutable to the Property which can altain priority over this Security Instrument, leasehold payments or ¡¡round rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the atent 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 the ]jen in a manner acceptable to Lender, but onJy so long as Borrower is performing such agreement; (b) contests the ]jen in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but onJy unlJl such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien 10 this Security InstrumenL, If Lender determines that any part of the 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 which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forLh above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate Lax veriflC3tion and/or reporting service used by Lender in connection with this Loan. WYOMING. Slnglo Famlly-F_nn" "'_/f,eddle MIlo UNIFORM INSTRUMENT Form 3051 1/01 (P8g<1 4 of 11 Pages) 000195 Loan No: 148002811 Data ID: 457 S. Pnlperty lnaurance. Borrower shall keep the Improvements now emting or hereaft~ erected on the Property insured 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. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. Wbat Lender requires pursuant to the preceding sentences can change during the tenn of the Loan, The insurance carrier providing the 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 connecoon with this Loan. either: (a) a one-time charge Cor flood zone determination, certiflCaoon and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees Imposed by the Federal Emergency Management ^sency in connection with the review of any flood zone determination resulting from an objection by Borrower, If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense, Lender is under no obligation 10 purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but ßÚght or ßÚght not protect Borrower. Borrower's equity in the Property, or the contents oC the Property, against any risk, hazard or liability and might provide greater or ieMer coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained ßÚght significantly exceed the cost of insurance that Borrower could have obtained, Any amounts disbursed by Lender under this Section 5 shall become additional debt oC Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date ·of disbursement and shall be payable, with such interest. upon notice from Lender to Borrower requesting payment. All insurance poIJcies 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 Joss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices, If Borrower obtains any fonn of insurance coverage, not otherwise required by Lender, Cor damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made 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 eoonomically feasible and Lender's security is not lessened. During such repair and res.toration period, Lender shall have the: right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satmfaction, 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 compleled. Unless an agreement ¡¡ made in writing or Applicable Law requires inlerest to be paid on such insurance pròceeds, Lender shaII not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid 10 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 claIm, then Lender may negotiate and settle the claim. The 3O-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns 10 Lender (a) Borrower's righls to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned preßÚuDlS paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Securily Instrument, whether or nolthen due. 6. Oœnpancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Insuumenl 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 coment shall not be unreasonably withheld, or unieM extenualing circumstances exist which are beyond Borrower's control. WYOMING - Single FemUy-Fannle MeelFreddkl MIlO UNIFORM INSTRUMENT Form 3051 1101 (Page 5 of 11 Pages) Loan No: 148002811 0001.96 Data ID: 457 7. Preservation, Maintenance and Protection uf the Property; ]nHpeCtlons. Borrower sball not destroy, damage or Impair the Property, allow the Property 10 deteriorate or commit waste on Ihe Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition, Unless it is determined pursuant to Section 5 that repair Dr restoration is not economically feasil)le, Borrower shaD promptly repair the Property if damaged to avoid further deterioration or damage. If insurance Dr condemnation proceeds are paid in connection with damage to, Dr the taking of, the Property, Borrower shaD be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment Dr in a series of progress payments as the work is completed. If the ,insurance or condemnation 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 Dr its agent may make reasonable entries upon and inspections of the Property. ]f it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shaD give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Bomlwer's Loan Applicatlun. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materiaDy false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with mater.ia1 information) in connection with the Loan. Material representations include, but are not limited to, reprClientations concerning Borrower's occupancy of the Property as Borrower's principal residence, 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in thil 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 condenmation or forfeiture, for enforcement of a lien which may attain priority over this Security Inslrument Dr 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 Inslrument, including protecting and/or assess.ing the value of the Property, and securing and/or repairing the Property, Lender's actions can include, but are nol limited 10: (a) paying any sums secured by a lien which has priority over this Security Instrument: (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Propertyand/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding, Securing the Property includes, but is not limited to, entering the Property to make repainl, change loeb, replace or board up doors and windows, drain water ftom pipes, eliminate building or other code violations or dangerous cònditions, and have utilities turned on or off. Although 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, ]t is agreed that Lender incurs no liability for not taking any Dr all actions authorized under this Section 9, Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interClit at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requCliting payment. If this Security Inslrument is on a leasehold, Borrower shall comply with aD the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ]0. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of mamg the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantlally equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shaD continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again beoomesavaüable, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of mamg the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage' Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law, Nothing in this Section 10 affects Borrower's obligation to pay interest a1 the rate provided in the Note, WYOMING - Single Femlly-Fannle Mae/Freddl. Mac UNtFORM INSTRUMENT Form 3061 1/01 (Page 6 of 1 Pege.) 000197 Loan No: 148002811 Data ID: 457 Mortgage Insurance reimburses Lender (or any entity that purcllases 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 tolal ri'lk on all such insurance in force from time to Ibne, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and condItions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage l!]Surer to make payment5 using any source of funds thai 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 afflliate of any of the foregoing, may receive (directly or indirectly) amounls that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reimurance." Further: (a) Any such agreements will not affect the amounts that Borrower bas agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreementli will not Inc:reaøe the amount BolTOwcr wIß owe for Mortgage Insurance, and they will not entitle Borrower to any -refund. (b) Any such agreements will not affect the rights Borrower bas - If any . with respect to the Mortgage Iusurance under the Homeowners Protection Act of 1"8 or any other law. These rights may Include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insuranl.'e, to have the Mortgage Insurance terminated automatically, and/or to receive a refuud of any Mortgage Insunmce premiums that were unearned at the time of 8uch cancellation or termination. 11. Aaslgnment of Miscellaneous Proceedsl Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is emnomically feasible and Lender's security is not lessened. I)uring such repair and restoration period, Lender shall have the right to hold such MisceJlaneous Proceeds until Lender bas had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and 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 emnomically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sun 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 this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking. destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal Lo or greater than the amount of the SUIDS secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing. the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the followJng fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) .the fajr market value of the Property immediately before the parlial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a panJal taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sun secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by 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 that the Opposing Party (as defined in the next sentence) offers to make an award to seUIe a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proœeds either to restoration or repair of the Property or to the SUIDS secured by this Security Instrument, wheLher or not then due. 'Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a righL of action in regard to Miscellaneous Proceeds, WYOMING - S'nglo Famlly·Fannle Moe/Freddle Mao UNIFORM INSTRUMENT Form 3051 1/01 (Page 7 of 11 Pages) 000198 Loan No: 148002811 Data ID: 457 Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security IDStrument. Borrower can cure such a default and, if acceleration has occurred, reinstate 8& provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of (he Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or cJaim for damages that are attributable to the impairment of Lendei's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Prooeeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. U. Borrower Not Re1eaaed¡ Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by lhis Securily Instrumenl granled by Lender 10 Borrower or any Successor in Inlerest of Borrower shall nol operate 10 release the liability of Borrower or any Successors in Interest of Borrower, Lender shall not be required to commence proceedings against any Successor in Intere¡t of Borrower or 10 refuse 10 extend time for paymenl or otherwioie modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Intereat of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amount& less than the amount then due, shan not be a waiver of or preclude the exerœe of any right or remedy. 13. Joint and Several Llahllity¡ Co-xignerø; Sua:eaaol1l BDd Assigns Bound. Borrower covenanI& and agrees that Borrower's obligations and liability 5haII 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 inlere¡t in the Property under the terms of this Security Instrumenl; (b) is not personally obli8ated to pay the sums secured by this Securily Instrument; and (c) agrees thai Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Seclion 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shan obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shan not be released Crom Borrower's obligations and liability under this Security Instrument unIess Lender agrees to such release in writing. 100 covenants and agreements of this Security Instrument shan bind (ucept as provided in Seclion 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under thß Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of c:xpresa authority in this Security Instrument to charge a specific fee to Borrower shall not be conslrued 8& a prohibition on the charging of such fee, Lender may not charge fees that are expresaly prohibited by this Security Instrument or by ApplicabJe Law. If the Loan is subject to a law which sets maximum loan charges, and that law ß finally interpreted so that the intere¡t or other loan charges coIJected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower, Lender may choose to make this refond by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduclion will be treated ILl 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 might have arising oul of such overcharge, IS. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in conneclion with this Security Instrument sball be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice addre¡s jf sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Addresa unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of addresa. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shan only report a change of address through that specified procedure, There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first clB5S mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shail not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under AppJicabJe Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. WYOMING. SIngle Family-Fannie Mae/Freddie Mac UNtFORM INSTRUMENT Form 3051 1/01 (Page B of 11 Pages) 000199 Loan No: 148002811 Data ID: 457 16. Governing Law¡ Severability; Rules of Construction. This Security Instrument shaJl be governed by federal law aod the law of the jurisdiction in which the Property is loœted, All rights and obJigations conlained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement, by contract, In the event that any provision or clause of this Security Instrument or the Note conflicts with Appl1cable Law. such conflict shaJl not affect other provisions of this Security Instrument or the Note which can be given effect without the conßicting provision. As used in this Security Instrument: (a) words of the masculine gender, shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include !he plural and vice versa; and (c) the word 'may' gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security InsLrumenl 18. Transfer of the Property or a Beneficial Interest In Bon-owef. As used in this Section 18, 'Interest in the Property' means any legal or beneficial interest in the Property, Including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. H all or any part of the Property or any Interesl 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) without Lender's prior written consent, Lender may require immediate payment in fuD of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law, If Lender exercises this option, Lender shall give Borrower notice of acceleration. 1be notice shall provIde a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument, If Borrower fails to pay these SUIDS prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's RIght to Reinstate ACter Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enfurcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrumenl Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrumenl, including, but not limiled to, reasonable allomeys' fees, properly inspection and valuation fees, and other fees incurred for the pUI]JOse of protecting Lender's inlerest in the Property and rights under this Security Instrument; and (d) taw such action as Lender may reasonably require to assure thaI Lender's interesl in the Property and rights under this Security Instrument, and Borrower's obliption to pay the sums secured by this Security lDstrument, shall continue unchanged. Lender may require that Borrower pay such reinslatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer, Upon reinstatement by Borrower, Ihis Security Instrument and obliptioß, secured hereby shall remain fully etfective as if no acceleration had occurred. However, this right to reinstale shall not apply in the case of acceleralion under Section 18. 20. Sale or Note; Change of I.oan Servicer; Notice of GrlevanL'C. 1be Nole or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as Ihe 'Loan Servicer') that collects Periodic Payments due under the Nole and this Security lDstrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There aJso might be one or more changes of the Loan Servicer unrelated to a sale of the Nole. If there is a change of the Loan Servicer, Borrower will be given written notice of the chanse which will state the name and address of the new Loan Servicer, the address 10 which payments should be made and any other Information RESP A requires in connection with a notice of transfer of servicíng, H 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 remain with the Loan Servicer or be transferred 10 a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. WYOMING - Single Famlly·Fannle Mee/Freddle Mec UNIFORM INSTRUMENT Form 3051 1/01 (Pag. 9 of 11 Page.) Loan No: 148002811 000200 Data ID: 457 Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security 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 wiD be deemed to be reaaonable fur purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20, U. HlIZRrdous Substances. As used in this Section 21: (a) 'Hazardous Substances' are those substances defined as toxic or hazardous substances, pollutants. or wastes by Environmental Law and the fulJowing substances: gasoline, kerosene, other flammable or toxic pel10leurn products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materiaJs; (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 defined in Environmental Law; and (d) an 'Environmental Condition' means a condition that can cause, contribute to, or othelWise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence. use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally reoognized 10 be appropriate to normal rmdential uses and to maintenance of the Property (including, but not limited to, hazardous substances in COnsumer produCl8), Borrower shalJ promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or reguJatol}' agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any EnviromnentaJ Condition, including but not limited to, any spilling, leaking, dio;charge, release or threat of release of any Hazardous Substance, and (c) any condition caused by thc presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatol}' authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property io; necessary, Borrower shall promptly take all necessary remedial actioDS in accordance with Environmental Law. Nothing herein shall create any obligation on Lender fur an Environmental Cleanup. NON·UNIFORM COVENANTS, Borrower and Lender further covenant and agree 88 follows: 22. Acceleration; Remedies. Lender shall give notice 10 Borrower prior 10 acceleration following BolT01'l'er's breach of any covenant or agreement In this Security Instrument (but not prior 10 øca:leratlon under Section 18 unless Applicable Law provide¡¡ otberwlse). The notice shall speclfyl (a) the delRult¡ (b) thc action required to cure the default¡ (c) a date, not less than 30 days from the date the notice Is given 10 Borrower, by which the default must be cured; and (d) that failure to t.l1re the default on or before the date specified In the notice DUly result In acceleration of the sums secured by this Security Instrument and sale of the Property. The notIce shall further Infonn Borrower of the right 10 reinstate after acceleration and the right to brIng a court action 10 DSllert the non-ex1l1tence of a default or any otber defense of Borrower 10 acceleration IInd sale. If the default Is not, cured on or before the date specified In the notice, Lender at Its option may requlre Immediate payment In full of aU sums secured by this SecurIty Instrument wIthout further demand und may Invoke the power of sale und any other remedIes pennltted by Applicable Law. Lender shall be entltJed 10 collect all expenses Incurred In pursuing the remedies provided In this Section 22, Including, but not limited to, reasonable attorney¡¡' fees and costs of title evidence. U Lender Invokes the poweI' of sale, lender shall give notice of Intent 10 foreclose 10 Borrower and to the person In possession of the Property, If different, In accordance with Applicable Law. lender shan give notice of the sale to Borrower In the munner provided In Section 15. lender shall publish the notice of sale, and the Property shall be sold In the munner prescribed by Applicable Law. J..ender or Its desIgnee may purchase the Property at any sale. The proceeds of the sale shall be applied In the following order. (a) to all expenses of the sale, Including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) anyeJ(ce8B to the person or persons legally entiticd to It. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shaD release this Security Instrument. Borrower shall pay any recordation COSls. Lender may charge Borrower a fce 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 permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virt ue of the homeslea¡ exemption laws of Wyoming. WYOMING - Slngl. Family-Fannie Ma./F.addle Mac UNIFORM INSTRUMENT Form 3051 1/01 (Peg. 10 0' T1 Psg...) 000201. Loan No: 148002811 Dala ID: 457 BY SIGNING BELOW, Borrower acœpl3 and agrees to the terms and covenants conlained in Ibis Security Instrument and in any Rider executed by B0!1'0wer and recorded with it. .~-~---(-Sea--"·I·-)-··-'-'----"···"··' c:::::::-~... ··..~--¿-wõõDš·':ä...'F;.."71'.....· , ...'., .. 'P~~(Seal) ANO R. wf5õbs -Borrowsr IS",""" BoIow Thl. Uno For AoI<n<JwIodgmont Slate of WYOMING County of TheJoregoing instrument was acknowledged before me this \l ~ day of ~\)V~ (\" 20Sù:2, by DAVID C. WOODS AND ANGELA R WOODS [Seal] \~~."o'>'" ~:~ ~ ~\\ ~ ~C"" Q ~ ~~ J\.. ,<-.r (Printed ame) d..I.................II....I..I....... : Melissa Capener-Notary Public : - - - - : County of State of : : Teton Wyoming : - - - - : My Commission Expires 5/24/2008 : .1.111.1...I.I.I.I.nnlll.II..III..II.P Witness my hand and official sea), My commission expires:~ "ZoO'-, \ () 0) \ WYOMING - SIngls Family-Fannia Maa/Freddla Meo UNIFORM INSTRUMENT Form 3051 1/01 (pags It of/I Pagss) 000202 Loan No: Borrower: 148002811 OA VID C. WOODS Data ill: 457 FIXED/ADJUSTABLE RATE RIDER (LIBOR One-Year Index (As Published In The Wall Street Journal)-Rate Caps) TIllS FIXED/ADJUSTABLE RATE RIDER is made this 17th day of March, 2008, 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 ("Borrower") to secure Borrower's Fixed/Adjustable Rate Note (the "Note") to ANB FINANCIAL, N.A ("Lender") of the same date and covering the property described in the Security Instrument and located at: 12 ASTER LOOP ALPINE, WYOMING 83128 [Property Addrœ8 I THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fIxed interest rate of 4.875 %. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial fixed interest rate I will pay will change to an adjustable interest rate on the first day of April. 2015, and the adjustable interest rate I will pay may change on that day every 12th month thereafter. The date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change, is called a "Change Date." (B) The Index Beginning with the first Change Date, my adjustable interest rate will be based on an Index. The "Index" is the average of interbank offered rates for one-year U.S. dollar-denomínated deposits in the, London market ("LIBOR"), as published in The Wall Street Journal. The most recent Index fIgure available as of the date 45 days before each Change Date is called the "Current Index.. If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes . Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO and ONFJFOURTH percentage points ( 2.250 %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(0) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. MULTISTATE FIXED/ADJUSTABLE RATE AIDER - WSJ One-Veer LlBOR- Single Famlly-Fenn/e Mee Uniform Instrument Form 3187 6/01 (Page 1 of 3 Pages) 000203 Loan No: 148002811 Data ID: 457 (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 9.8750 % or less than 2.2500 %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than 1WO percentage points from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 9.8750 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amou}1t of my new monthly payment beginning on the fIrst monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed interest rate to an adjustable interest rate and of any changes in my adjustable interest rate before the effective date of any change. The notice will include the amount of my monthly payment, any information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. Until Borrower's initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security instrument shall read as follows: Transfer of the Property or a Beneficial Interest in BOlTower. As used in this Section 18, "Interest in the Property' means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a PIJrchaser. 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) without Lender's prior written consent, Lender may re<,luire immediate payment in full of all sums secured by this Security Instrument However, this optIon shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acçeleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 2. When Borrower's initial [lXed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument described in Section B1 above shall then cease to be in effect, and the provisions of Uniform Covenant 18 of the Security Instrument shall be amended to read as follows: Transfer of'the Pro,IM:rty or a Beneficial Interest in BOlTower. As used in this Section 18, "Interest in the Property' means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may reguire immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in tllis Security Instrument is acceptable, to Lender. MULTlSTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One-Year LlBOR- SIngle Family-Fannie Mae Un"orm Instrument Form 3187 6/01 (Page 2 of 3 Pages) 000204 Loan No: 148002811 Data ID: 457 To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the 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 the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. By Signing Below, Borrower accepts and agrees to the terms and covenants contained in this Fixed/Adjustable Rate Rider. ~fi~~~~...~::"~~;-::;;;;;;............(Seal) DAVID C. WOODS -Borro~ . ..WÇ,tt.ø;.t.~................,...........(Seal) ANG& R. WOODS -Borrower MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One-Year UBOR- Single Family-Fannie Mae Uniform Ins1rumen1 Form 3187 6/01 (Page 3 of 3 Pages)