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HomeMy WebLinkAbout938403 After Recording Retum To: PROVIDENT FUNDIN G ASSOCIATES. L.P. PO BOX 999 BURLINGAME, CA 940] 1-0999 Lo"n No. 1318030149 RECEIVED 4/21/2008 at 1 :49 PM RECEIVING # 938403 BOOK: 692 PAGE: 418 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ü0041.8 ---- [Splice Abovc This Line For Recording Dlltll) MORTGAGE ~1UN 1000179-1318030149-4 DEFINI1l0NS u~ Words used in multiple sections of this document are defined below and other words are defined in Sections 3, II, 13, ] 8,20 and 21. Certain rules regaIÙing the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated 4/15/2008 ,together with all Riders to this document. (8) "Borrower" is KIMBERL Y N BOYD, AN UNMARRIED WOMAN, AND STUART G MCLANE, AN UNMARRIED MAN. Borrower is the mortgagor under this Security Instrument. (C) "M:ERS" is Mortg"ge Electronic Registratil1n Systems, Inc. M ERS is a separate cl1rpor¡¡tion that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is thc lIIort~ngcc under this Sccurity Instrulllcnt. MERS is organii':cd ¡l1ld existing under the laws or Delaware, ¡¡nd has ¡¡n ¡¡ddress and telephone number of P.O. Box 2026, Flint, MI48501-2026, td. (X88) 67'J-MI::RS. (D) "Lcnder" is PROVIDENT FUNDING ASSOClA TES, L.P.. Lender is a LIMITED PARTNERSHß> org¡¡nized and existing under the laws ofCALlHJRNIA. LI::ndds address is 10220 NORTH NEV ADA ST., StnTE 240, BLDG B, SPOKANE, WA 99218. (E) "Note" means the promissory note signed by Borrower and dated 4/15/2008. The Note states that Borrower owes Lender TWO HUNDRED FORTY TWO THOUSAND TWO HUNDRED AND 00/100 Dollars (U.S. $242,200.00 ) plus interest. Borrower has promised to pay this debt i.n regular Periodi.c Payments and to pay the debt in full not later than 5/1/2038. (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property". (G) "Lolln" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all Sl.llTIS due under this Security Instrument, plus interest. WYOMING-SlI1glo l'um,ly-FII"nic 1\1''''/Frc<ltlic 1\111. 1'i\'II'OH.!\' IN:iTHl!!\ŒNT OOIOWY.(hl(;. S/11120U22:20PM p' 4/1 5/200H Borrower Initials ~F;911 /O (1'aKe / "1 J1 1'lfKes) Vér.2 ü0041.9 (1-1) "Riders" means all Riders to this Secmity Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ()Adjustable Rate Rider ( ) Balloon Rider ( ) 1-4 Family Rider ( ) Condominiwn Rider (X) PlalUled Unit Development Rider ( ) Biweekly Payment Rider () Second Home Rider ( ) Other(s) (I) "Applicablc Law" means all controlling applicable fèderal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the t:ffect of law) as well as all applicable Hnal, 1l00Hppealable judicial opiniolls. (J) "Community Associution Ducs, Fecs and Assessments"meélns all dues, rees, assessments and other cha.rges that are imposed 011 Borrower or the PropeT1y by a condl1minium association, homeowners associéltion or similélr organization. (K) "Electronic Funds Trunsfer" means élny transfer or funds, other théln a trélnsaction originélted by check, dratl, or similar paper instrument, which is initiated through an electronic tenninal, telephonic instrument, computer, or magnetic t¡lpe so élS to order, instruct, or authorize a tlnancial institution to debit or credit an account. Such teml includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire trans fers, and automated clearinghouse transfers. (L) "Escrow Items" mean those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction 0 f, the Property; (ii) condemnati<;Jn or other taking 0 fall or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of; or omissions as to, the value and/or condition ofthe Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default 011, the Loan. (0) "Periodic I)aymcnt" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 35(0), as they might be amended from time to time, or any additional or successor legislation or regulation that govems the same subject matter. As used in this Security Instrument, "RESP A" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally regulated mortgage loan" under RESPA. (Q) "Successor in Interest of Borrowcr" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under lhe Note and/or this Security TJlStrument. WYOMING-Sing!. Fnmily-Fllrmie MllelFredelie Mil" UNIFORM INSTRUMENT mo 3051 tlOI (page 2 ,,111 page.V 0010WY.doo-5117120022:20PM Borrower Initials -M -- - --.-- -----.r.< 2 p- 411512008 .. ysr. TRANSFER OF RIOHTS IN THE PROPERTY 000420 This Security Instrument secures to Lender: (i) the repuyment of the Loan, and all renewals, extensions und modifications of the Note; and (Ii) the perfonnance of Borrower's covenunts and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns ofMERS, with power of sale, the following described property located in the county of LINCOLN LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF AS ExmnIT "A". PLANNED UNIT DEVELOPMENT RIDER A IT ACHED HERETO AND MADE APART HEREOF. which currently hus the address or j4X CEDAR DRNE STAR VALL.EY RANCH. WY Xll27 ("Pwperty Address"): TOOE'IllER WITH all the improvcmcnts now or herealh:r erected on the propert.y, and "II easements, appurtenances, and lixtures now or herealler a pan of'the property. All replacements and additions shall also be covered by this Security Instrument. All or the fl1regoing is rercrred to in this Security Instrument as the "Property". Borrower understands .and ugrees that MERS holds only legal title to the interests granted by Borrower in this Security ùlstrument, but, ir necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-unilbml covenants with limited variations by jurisdiction to constitute a unitbnn security instrument covering rea I property. UNIFORM COVENANfS. Borrower and Lender covenant and agree as follows: 1. Paymcnt of Principal, Interest, Escrow Items, Prcpnyment Chargcs, and Late Charges, Borrower shall pay when due the principaJ ot~ and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shalJ also pay lùnds for Escrow Items pursuant to Section 3. Payments due LUlder the Note and this Security ùlstrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security ùlstrumentis retumed to Lender unpaid, Lender may require that anyor all subsequent paymcnts due under the Note and this Security Instrument be nHlde in one or more or the lhllowing tbnTIs, as scle<.:ted by Lendcr: (a) cash; (\1) 111l1ney nrder; (c) certilìed check, bank che<.:k, treasurer's che<.:k or cashier's check, pro\'ided any such check is drawn upon an institution whose deposits are insured by a federa I agency, instrumenta lity, or en! ily: or (d) Electro n ic Funds Trans ter. Puyments are deemed received by LCllllcr when rcceived at the location designuted in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender Imy retum any paymcnt or partial payment ir the payment or partial payments are insutTicient to bring the Loan current. Lender may accept any payment or purtial payment insuflìcient to bring the Loan current, without waiver of any WYOMING-Single Fomily-F.ruùe MoelFrec1die M.c UNIFORM INSTRUMENT Form 3051 1/01 (page 1 t>/ 11 pages) 0010WY.doo-5/17/20022:20PM Borrowerlnilials -l~ ~A_____ p - 4/1512008 ~~ --vBr. 2 û00421. rights herewlder or prejudice to its rights to retuse such payment or partia I payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. ¡feach Periodic Payment is applied as of its scheduled due date, then Lender need nol pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. II' Borrower does n01 do so within a reasonable period of time, Lender shall ei1Jler apply such Ilmds or rdum them to Borrower. If not applied earlier, such funds will be applied tn the outstanding principal balance under the Note immediately prior to f(1reclosure. No orfset or claim which Borrower might have nnw or in the future against Lender shall relieve Borrower lÌom making payments due under the Note and this Security Instrwnent or perronning the covenants and agreements secured by this Security Instrument. 2. Appliclllion of Pllyments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority; (a) interest due under the Note; (b) principal due under the Note; (c) 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 first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance ofthe Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the 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 payment of one or more Periodic Payments, such excess may be applied to any late charges due. VolW1tary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments are due under the Note, w1til the Note is paid in full, a sum (the "Funds") to provide for payment of amow1ts due for; (a) taxe sand assessments and other items which can attain priority over this Security Instrument as a lien or encwnbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums l'or any and all insurance required by Lender under' Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payabh: by Borrower to Lender in lieu or the payment l)r Mortgage Insurancc premiums in accordance with the provisions of Section 10. These items are called "Es¡;row 11 ems". At origination or at any time during the tell11 of the Loan, Lender may require that Community Association Dues, Fees and Assessments, if any, be escrowed by ßorrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly rum ish to Lender all notices of amowlls to be paid under this Section. Borrower shall pay Lender the Funds [(If Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or a tl Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or a II Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shaH pay directJy, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall fumish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as 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 its rights under Section 9 and pay such amow1t and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or aH Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shaH 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) surtìcient to pennit Lender to apply the F\U1ds at the time specified w1der RESP A, and (b) not to exceed the maximwn amoWlt a lender can require under RESPA. Lender shaH estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any FederaJ Home Loan Bank. Lender sha II apply the Funds to pay the Escrow Items no later than the time specitìed under RESP A. Lender shall not charge Borrower Ihr 1wlding and applying the Funds, alUlu,llly analyzing the escrow account, or verifying WYOMlNG--~ingle Fl1miIY-~-I"m¡e Mlle/Frothlie Mile I! \;IF() {M INSTHIiMK~T OOIOWY.dl'~'· 5/17'2002 ~:2n PM J - -Iii ')12001C Borrowt:r Initiats ~ ¡;ti 1'111 ~tf~e4 '~_/~~':::')2 ü00422 the Escrow lems, 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 the Funds. Lender shall give to Borrower, without charge, an annual accounting ofthe Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of FW1ds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance wit.h RESPA, but in no more than t.welve mont.hly payment.s. If there is a deficiency of Funds held in escrow, as detlned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay t.o Lender t.he amount necessary to make up the defìciency in accordance with RESP A, but in no more t.han twelve mont.hly payment.s. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Churges; Licns. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can atta in priority over this Security Inst.rument, leasehold payment.s or ground rent.s on the Property, i I' any, and Community Associat.ion Dues, Fees, and Assessment.s, if any. To t.he cxtent. t.hat these items are Escrow Items, Borrower shall pay them in the maimer provided in Section 3. Borrower sha II promptly discharge any lien which has priority over this Security Instrument. unless Borrower: (a) agrees in writing to t.he payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is perfonning such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement ofthe lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detennines that any part of the Property is subject to a lien which can attain priority over this Security Il1strwnent, 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 forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insnnmce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tern1 "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, lor which Lender requires insurance. This insurance sball be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during tbe tenn of the Loan. The insurance carrier providing the insurance sball be L:hosen by Borrower subiect to Lender's righlto disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may re4uire Borrower to pay, in connection with this Loan, either: (a) a one-time charge ,Ör Ilood zone determination, catilkation and traL:king services; or (b) a one-time charge for flood zone detennination and L:cI1i licat.ion serviccs and subsequent charges each time remappings or similar changes occur which reasonably might affcct such detcnnination or L:eI1ilication. Borrower sl1éll] also be responsible for the payment of any fees imposed by the Federal Emcrgency M¡lIJagement Agency in connection with the review of any Ilood zone detennination resulting from an objection by Borrower. If Borrower !ilils to maintain any oflhc coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverag.e. Therefore, such coverage shall cover Lender, but might or mig.ht not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amow1ts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be paya ble, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an WYOMING-Single Family-Fnmùe MnelFre<l<lie Mne UNIFORM INSTRUMENT J*J. or 051 1101 (page 5 "f JJ pages) 0010WY.doo-5/ 7/20022:20PM Borrowerlnilinls _~ _.__ _ ______ p. 4/1512008 -----vër. 2 .iL 000423 additional loss payee. Lender shall have the right to hold the polit:ies and renewal certilkates. If Lender requires, Borrower shall promptly give to Lender all reœipts of paid pn::miums ¡UJd renewal notices. If Borrower obtains any form of insurance t:overage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds w1til Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shedl be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may liIe, negotiate and settle any available insurance claim and related matters. I f Borrower does not responù within 3D days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender lJlay negotiate and settle the claim. 'TIJe 30-ùay period will begin when the notice is given. In either event, or if Lender acquires thc Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proœeds 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 ofuneamed premiums paid by Borrower) under all insurance polkies covering the Property, insolàr as such rights are applicable to the coverage of the Property. Lender lTIay use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and I>rotection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower sha 11 maintain the Property in order to prevent the Property trom deteriorating or decreasing in value due to its condition. Unless it is detennined pursuant to Section 5 that repair or restoration is not cr.:onomically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as 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 or its agent may make reasonable entries upon and inspections oft.he Property. If it héls reasonable cause, Lender may inspect the ¡uterinr of the improvements on t.he Property. Lender shall give Borrower notice at the lime of or prior to such an intcrior inspection specifying such reasonable cause. 8. Borrower's Loun Appliclltion. Borrower sheil I bc in defllUlt if: during the Lnan application process, Borrower nr any persons or cntities acting at t.he direct.ion of Borrower or with ßorrower's knnwledge or consent gave materially J¡¡lse, misleading, or inuccurate inll1nnation or statements to Lender (or failed to provide Lender with material inf'onnation) in cOllnection with the LlHlIJ. Material representations include, but are not limited to, representations conceming Borrower's occupuncy ofthe Property as Borrower's principa I residence. WYOMING-Single Fnmily-Fllnnie MnelFreddie Mile UNIFORM INSTRUMENT mor. 51 1101 (page 6 (if 13 pages) OOJOWY.doc- 5/J7/20022:20PM Borrower Initials ~ p - 4/15/2008 - --- ---ver. 2 000424 9, Protection of Lender's Interest in the Property and Rights Under this Security Instrument, If (a) Borrower tàils to perfonll the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a procœding in bankruptcy, probate, lor condemnatioll or forfeiture, for enforcement of a lien which m¡¡y attain priority ova this Security Instrument or to enlÜrce l¡¡ws or regulati() Js), or (c) Borrower hils ¡¡b¡¡ndoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's ¡¡ctÎons can include, but ¡¡re not limited to: (a) paying any sums secured by a lien which has priority ova this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/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 repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities tumed 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. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall be¡¡r 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. If this Security Instrwllent is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10, Mortgage Insnrance. If Lender required Mortgage Insurance as a condition of making tl1e Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage h1surance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separate'1y designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain covera ge substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insunll1ce previously in effect, from an altemate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not a"ailable, Borrower shall continue to pay to Lender the amount of the separately desigl1élted payments that were due when the insurance covenlge ceased to be in elree!. Lender will accept, use and retain these payments as a non-relì.ll1dable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be nOIHelundablc, notwithstandin¡! the fact thöt the Loan is ultimately p¡¡id in full, and Lender shall not be required 1(1 pay Borrower any interest (Jr eamings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage IJJSurance coverage (in the amount and l'or the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiW1Js for Mortgage Insurance. If Lender required Mortgage hJsurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiw11S t'or Mortgage Insurance, Borrower shall pay the premiw11S required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until the Lender's requirement for Mortgage hlsurance ends in accordance with any written agreement between Borrower md Lender providing for such tenllination or until tenllination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage hlsurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include fWJds obtained from Mortgage h1surance premiums). As a result ofthese agreements, Lender, any purchaser ofthe Note, another insurer, any reinsurer, any other entity, or any affìliate of any of the !oregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments ('or Mortgage Insurance, in exchange f'or sharing or modifying the mortgage insurer's risk, or redm:ing losses. If such agreement provides that an af1ìliate of Lender WYOMING-Single Fllmily-F",mi. MlleflirecJdi. IVllll' IiNll'ORM INSTRI'M.ENT v-f}.". Jl;(" .. JH51 1/01 (¡iaKe 7 of 11 P"K") OOIOWY,dC'1l" - SII7/2002 2:20 PM Borrower Inilinls V'/ . . p..4/JI1200H ... .. .. . .... Vér.2 000425 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 reinsurance." Further: (a) Any such agrecments will not affcct the all10llnts that Borrower hils Ilgrced to pay for Mortgage Insurance, or any other terms of the Loan. Such agrecments will not increase the all10unt Borrower will owc for Mortgage Ins urance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affcct the rights Borrower has- if any- with respect to the Mortgage Insnrance under the Homeowners Protection Act of 1998 or Ilny othcr law. These rights lI1ay include the right to receive certain disclosures, to request and obtllin cllncellation of the Mortgage Insurance, to have the Mortgage Insurllnce terminated autoll1llticall)/, IlIId/or to rcceive a refund of IIIIY Mortgage Insurance premiums thllt were unearned at the till1e of snch cancellation or termination. 11. Assignment of Miscellllneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be ClppJied to restoration or repClir ofthe Property, if the restorCltion or repair is econolllic¡¡lIy feasible and Lender's security is not lessened. During such repClir and n:storation period, Lender shall have the right to hold such Misçcllaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work hCls been completed to Lcmler's sCltisfaction, provided that such inspection shall be undertaken promptly. Lender llIay pay for the repairs and restoration in a single disbursement or in a series of progress payments as thc work is completed. Unless Cln agreement is made in writing or Applicable Law requires interest to be paid on such Miscell¡¡neous Proceeds, Lender shal1 not be required to pay Borrower any interest or eClmings on such Miscellaneous Proceeds. Ifthe restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event ofa total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security In strument, whether or not then due, with the excess, if any, paid to Borrower. Ùl the event ofa partial taking, destruction, or loss in value of the Property in which the fàir market value of the Property immediately before the partial taking, destruction. or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or, loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shal1 be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the tàir I1I1rket value of the Property immediately before the partial taking, destruction, or loss in value. Any balance sh¡lIl be paid to Borrower. Ùl the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the ¡¡mount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied 10 the sums secured by this Security Il1Strument whether or not the sums are then due. Ifthe Property is abandoned by Borrower, or iC after notice by Lender to Borrower Ihat the Opposing Party (as delìned in the next sentence) oilers to makc an award to settlc a claim for dam¡lges, Borrower nlils to n;:spond to Lender within 30 days after the dale the notice is given, Lender is ¡¡uthorized to collect Clnd apply the Miscellaneous Proceeds either to restoration or repa ir orthe Property or to Ihe sums secured by this Security Il1Strument, whether or not then due. "Opposing Party" means the third party thaI owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right ofaetion in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgement, could result in forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section] 9, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impainnent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. WYOMING-Single Fomily-Fllruùe MllclFreddie MRc UNIFORM INSTRUMENT J/ n FWr 051 11111 (page 8 <If IJ page.v) OOIOWY.doc - 5/17/20022:20 PM Borrower Initiols LJ:2. p - 4/1512008 - - --- ------var. 2 000426 All Miscellaneous Proceeds that are nut applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or moditlcation of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. 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 amow1\s less than the amount then due, shall not be a waiver of or precJude the exercise of any right or remedy. 13. Joint and Several Linbility; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and lia bility shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrwnent only to mortgage, grant and convey the co-signer's interest in the Property under the tenns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's ¡;onsent. Subject to the provisions of Section I R, any Successor in Interest or Borrower who assumes Borrower's obligations under this Security ll1Strumcnt in writing, and is appn1ved by Lender, shall obtain all of Borrower's rights and benelits under this Security lnstrUIm:nl. Borrower shall not be released from Burrower's obligations and liability under this Security lnstrument unkss Lend¡;r agrees to such release in writing. The covenants and agreements of this Security lnstrum¡;nt shall bind (exœpt as pnwided in Section 20) and benerit the sucCt:ssors and assigns of Lender. 14. Loan Chnrges. Lender may ¡;harge Borrower I'œs for services perlonm:d in cOlmection with Borrower's default, tor the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attomeys fees, property inspection and v¡¡]uation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in COImection with the Loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this retìmd by reducing the principal owed under the Note or by making a direct payment to Borrower. If a retìmd reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided tor 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 out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by tirst class mail or when act.ually delivered to Borrower's notice address ifsent by other means. Notice to anyone Borrower shall constitute notice to aH Borrowers unless Applicable Law expressly requires otherwise. The notice address shaH be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly 11l11iry Lcnder or Borrower's change or address. II' Lender specines a procedure [or reporting Borrower's change or address, then Borrower shall only report a change or address through that specifícd proceùure. There may be only IUle designated notice address under this Security Instrwllent at anyone time. Any notice to Lender shaH be given by delivering it or by mailing i1 by tirsl class mail to Lender's address stated herein unless Lender has designaled ilnother ¡Iddress by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have bccn given to Lender wltil actually received by Lender. If any notice required by this Security IJlStrument is also required wIder Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. WYOMING-Single Fomily-Fonnic MoelFreddie Moc UNIFORM INSTRUMENT . _ ;w'or OSI 1/01 (page 9 of JJ pages) OOIOWY.doc- 5f17/20022:20PM Borrower lnitiuls JŒ. p _ 4'1512008 - - - --- -----vër. 2 ü00427 16. Governing Law; Severability; Rules of Construction. This Security Instrument shaJl be governed by federal law and the law of the jurisdiction in which the Property is located. AJI rights and obligations contained in this Sel:urity Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties 111 agree by I:ontral:t l1T it might bc silent, but such silence shall not be construed as a prohibition against agreement by I:ontral:t. In the event that ¡Iny provision or clausc of this Sel:urity Instrument or the Note conflicts with Applicable Law, sUl:h conllkt shall not a ffect other provisions ofthis Security Instrument or the Note which can be given ciTed withoutlhe I:on/lil:ting provision. As used in this Security Instrument; (a) words of the masl:uline gender shall mean and include corn:sponding m:uter words or words orthc feminine gender; (b) words iuthe singular shall mean and include the plural and vice versa; and (1:) the word "may" givcs sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and ofthis Security Instrument. 18. Transfer of the Property or II Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those benefìcial interests transferred in a bond for deed, contract for deed, instaJlment sales contract or escrow agreement, the intent ofwhich is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any JJlterest in the Property is sold or transferred (or if Borrower is not a natural person and a benefìcial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in fuJl of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law . If Lender exercises this option, Lender shaJl 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 pennitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power orsale contained in this Security Instrument; (b) such other period as Applicable Law mig.ht specity I()r tbe tennination of Borrower's right to reinstate'; or (c) entry of a judgment enrorcing this Security Instrument. Those conditions an:: that Borrower: (a) pays Lender all sums which then would be due under this Security 111strumen1 and the Note as if no acceleration IHld ol:curred; (b) cures any default of any other covenants \H agreements; (c) pays all expenses incurred in enrordng this Security Instrument, including, but not limited to, reasonable attorncys' fees, proper1y inspel:lion and valuation fees, and other fees incurred IÖr the purpose ofprotel:ting Lender's interest in the Proper1y and rights under this Security 111strument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement swns and expenses in one or more of the following fonns, as selected by Lender: (a) cash; (b) money order; (c) certifìed 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, instrwnentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Sectiolll8. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. 111e Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might resuJt in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due wIder the Note and this Security Instrument and performs other mortgage loan servicing obligations wlder the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice orthe change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in cOlmection with a notice of transfer of servicing. If the Note is sold and thereatìer 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 to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. WYOMING-Single Fumily-I'lIn"io MllofFrodcllo Milo ¡:NIFORM INSTH(I~'ŒNT 001 OWY.do"· 1¡1712{)02 2:20 PM I' . 4/1 I1200H Borrower Inilinls ø F~; \10\ (page III/if IJ p"f(e.vJ p'-'( Vér.2 Ü00428 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 (rom the other party's ¡lctions 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 <lction. If Applicable Law provides a time period which must elapse before certain <lction can be taken, th<ll time period will be deemed to be reasonable for purposes of this par<lgraph. The notice of <lcceler<ltion <lnd opportunity to cure given to Borrower pursuant to Section 22 <lnd the notice of acceleration given to Borrower pursuant to Section 18 slwll be deemed to satisfy the notice and opportunity to t<lke corrective adion provisions orthis Section 20, 21. Hazllrdous Subslullces. As used ill this Section 21: (a) "Haz<lrdous Substancl:s" are those substances defined <IS toxic or hazardous substances, pollut¡lnts, or w<lstes by Environmental Law and the following substances: g<lsoline, kerosene, other flammable or toxic pl:trokUI1l products, toxic pl:sticides and herbicides, vol<ltik solvents, l1l<lh:rials contailling élsbestos or Ibnnaldehyde. and radioactive Illllterials; (11) "EnviroJUllental Law" means federal l<lws and laws of the jurisdiction where the Prl1perty is located thaI relatt: to ht:<llth, safety or environmental protection; (c) "En vi rOlilllt:ntaI Cleanup" includes any response ¡Iction, remedial action, or rel1loval aClion, as defíned in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or pennit 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 <In Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, cre<ltes a condition that adversely affects the value ofthe Property, The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to nonnal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). WYOMING-Single Fnmily-Fllruûe MoelFreddie Mo. UNIFORM INSTRUMENT .v 4.. _._ __ ~o _~O_5.t _t_IO.t__(p__a_t:e 11 lif 11 pages) OOIOWY,doc- 5/1 7/20022:20 PM Borrower Initials ~y P - 4/'5I'¿008 --- ---vër. 2 û00429 Borrowl:r shall promptly give Lendl:r written notice or (a) any investigation, claim, demand, lawsuit or other action by any govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law or which Borrower has actual knowledge, (b) any Environmental Conditjon, including but not limited to, any spilling, kaking, discharge, release or threat orrelease of any Hazardous Substance, and (c) any condition caused by the presence, use or release ofa Hazardous Substance which adversely affects the value of the Property. If Borrower leams, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender fUrther covenant and agree as follows: 22. Accelerlltionj Remedies. Lender shllll give notice to Borrower prior to IIccelerlltion following Borrower's brellch of IIny covenllnt or IIgreement in this Secnrity In.~trument (but not prior to IIccclerlltion under Section 18 unless AppJicllble Lllw provides otherwise). The notice shllll specify: (II) the defllldtj (b) the IIction required to cure the defllultj (c) II date, not less tIlIIn J) dllYs from the date the notice is given to Borrower, by which the default lUust be curedj and (d) thllt failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security InstrulUent arid sale of the Property. The notice shall further inform Borrower of the right to reinstate lifter IIccelerlltion IInd the right to bring a court IIction to assert thc uon-existcncc of a default or any other defense of Borrower to lacceleration IInd sale. If the dd'ault is not cured on or beforc the date specified in the notice, Lender at its option mllY require immediate pllyment in full of all sums sccured by this Security Instrument without further demand land IUIlY invoke the pm,ver of sale Ilnd auy other remedies permitted by Applicable Luw. Lender shllll be entitled to collect all expcnscs incurred in pursuing the rcmedie.~ providcd in this Section 22, including. but not limited to, reasonable attorneys' fees land co.~ts of title evidence. If Lender invokes the powcr of sale. Lender shall givc notice of intent to foreclosc to Borrower and to the person in possession of the Property, if different. in accordance with AppJicllble Law. Lender shall give notice of the sllle to Borrower in the manncr provided in Section 15. Lender .~hllll publish the notice of sllle, and the Property shall be sold in the manncr prescribed by Applicable Law. Lender or its designee may pnrchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to 1111 expenses of the sale, including, but not limited to, rellsonllble attorneys' feesj (b) to nil silins secured by this Security Instrumentj and (c) any excess to the person or persons legally entitled to it. 23. Relellse. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is pennitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. WYOMING-Single Family-Fannie MllclFrerlrlic Mllc UNIFORM INSTRUMENT . ¡Jf0 3051 1101 (page 12 of 13 page.<) OOIOWY.doc - 5/17/20022:20 PM Borrower Initials ~ p - 4/1 512008 - - --- ----vër. 2 \)00430 BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: /'~;:;f¡;yø¡1 ~~ STUART G MCLANE (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower ACKNOWLEDGEMENT STAlE OF WYOMING, L.( f\CO LÞ-COlll1lV ss The foregoing instrument was acknowledgt:d bdÖrt: Illt: this day or_~j_l__l_5-tlQ9 ~y KLMBERLY N BOYD STUART G MCLANE My Comm;,,;on EXP;'.Jz ~ L!.(À v'131¡101 0 ~~ ""T---- No",." Pnbtic W~ · AMY GUEAR - NOTARY PUBLIC COUNTY OF - STATE OF LINCOLN WYOMING MY COMMISSIO EXPIRES 1/31/2010 WYOMING-Single Fomily-I'IIIIßi. MllerFr..hl!e MII'- ('NII'ORM INSTHI.'J\1EJ\T FornI JII51 JIll I (¡m¡:e 11 IIf I1lm¡:..) 0010\\·" .(1('1\" ~:17/20()2 Z:~O PM p' 4/ 5/200H Ver. 2 Loan Number: 131 B030 149 Property Address: 548 CEDAR DRNE STAR VALLEY RANCH, WY 83127 EXHIBIT "A" LEGAL DESCRIPTION Date: 41l5/200B APN# 12-3518-30-1-02-081.00 Lot 46 of Star Valley Ranch Plat 8, Lincoln County, Wyoming as described on the official plat filed on August 4, 1971 as instrument No. 432466A of the records of the Lincoln County Clerk. (J(J II û00431 çe, Ver.2 9q PLANNED UNIT DEVELOPMENT RIDER Ð00432 Loan No j 18030 l4Y THIS PLANNED UNIT DEVELOPMENT RIDER is made 4/15/2008, and is incorporat.ed into and shall be deemed t.o amend and supplement. the Mortgage, Deed of Trust or Security Deed (the "Security lnstrument.") oft.he same date given by the undersigned (the "Borrower") to secure Borrower's Note to PROVIDENT FUNDING ASSOCIATES, L.P. (the "Lender") of the same date and covering the Property described in the Security Inslrument and located at: 54S CEDAR DRNE STAR VALLEY RANCH, WY IDl27 (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 Clreas and facilities, as described in covenants, conditions, and restriet.ions (the "Declaration"). 111\:: Property is a part of a planned unit developm<.:nt known as STAR V ALLEY RANCH PLAT X (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 tìlcilities of the pu~ (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. POO COVENANTS. In addition to the covenants and agreements made in the Security hlstrument, Borrower and Lender further covenant and agree as follows: A. POO Obligations. Borrower shall perfonn all of Borrower's obligations under the PUD's Constituent Docwnents. 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. n. Property 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 amowlls (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 Ooods. lor which Lender requires insurance then: (i) Lender waives the provision in the Sect.ion 3 for the yearly payment to Lender of the yearly premium installments for property insurance on the Property; and; (ii) Borrower's obligation under Section 5 to maintain property insurance coverage l) l the Property is deemed satisfied to the extent thaI the required coverage is provided by the Owners Association policy. What Lender requires as a condition oi'lhis waiver can change during the term oi'the loan, Borrower shall give Lender promplnotice of any lapse in required property insunll1ce coverage provided by the master or blanket policy. In the evcnt ofa distribution ofhazard 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 Linbility 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. MULTISTATE PUD RIDER - SII1g1e Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3150 1/01 Puge I of 2 if íl... ~ f Borrowers IniLlals: _t':l:2 4-'4 __._ __ __ 0017.DOC- 9/~f20014:WPM , - 4'1 \12008 VeL 2 Ü00433 D. Cundemnatiun. Tlu: proc\:eds of any award or claim lor damages, direct or consequential, payable to Borrower in connection with ¡my condemnation or o!ber taking 0 [all or any part 0 f tJle Property or tJle common areas and facilities of !be PUD, or for any conveyance in lieu of con den mati on, are hereby assigned and shaJl be paid to Lender. Such proceeds shall be applied by Lender to !be sums secured by tJlt( Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower shaJl not, except after notice to Lender and wi!b Lender's prior written consent, ei!ber partition or subdivide tJle Property or consent to: (i) tJle abandonment or tennination or tJle PUD, except for abandonment or termination required by law in tJle case of substantial destruction by fire or o!ber casualty or in !be case of a taking by condemnation or eminent domain; (ii) any amendment to ¡my provision of tJle "Constituent Documents" if !be provision is for !be express benetìt of Lender; (iii) tennination of professional management and assumption of self-management of !be Owners Association; or (iv) any action which would have tJle effect of rendering tJle public liability insurance coverage maintained by tJle Owners Association unacceptable to Lender. 1'. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amOw)l~ disbursed by Lender under tJlis paragraph F shall become additional debt of Borrower secured by !be Security Instrument. Unless Borrower and Lender agree to otJler tcnns 0 [payment. tJl\:se amowlts shall bear int\:rest ITom the date 0 f disbursement at the Note rate and shall be payable, WitJl interest, upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW, Borrower accepts and agrees to the tcnllS ¡Ind pro\'isions cOlll<lined in ùlis PUD Rider. (Se¡¡l) (Seal) (Seal) (Seal) (Seal) (Seal) (Seal) (Seal) MULTŒTATE PUD RIDER - Single Family - Fannie MJle/Freddle Mac UNIFORM INSTRUMENT Fonn 3150 1/01 Page 2 of 2 0017 - 9/5/20014:)9 PM g - 4/1512008 Ver.2