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HomeMy WebLinkAbout941651 77 6010817049 After Recording Return To: COUNTRYWIDE BANK, FSB MS SV-79 DOCUMENT PROCESSING P.O. Box 10423 Van Nuys, CA 91410-0423 RECEIVED 8/27/2008 at 3:18 PM RECEIVING # 941651 BOOK: 103 PAGE: 324 JEANNE WAGNER LINCOLN COUNTYCLERK, KEMMERER, WY Prepared By: JENNY SELBY ,...0"'311"1)4 c VI ~. [Space Above This Line Fot Recording Datal 6010817049 [Escrow/Clos~ng #j 00019490660308008 [Doc ID fj MORTGAGE MIN 1001337-0003145304-9 DEFINITIONS Words used in muJtiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. CertaIn nùes regarding the usage of words used in this document are also provIded in Section 16. (A) "Security Instrument" means this document, which is dated AUGUST 21, 2008 Riders to this docwnent. (8) "Borrower" is CAROL R DRANEY , together with all ,; ,(~i I ... Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assIgns. MERS is the mortgagee uDder this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number ofP.D. Box 2026, Flint, MI4850I-2026, tel. (888) 679-MERS. (D) "Lender" is COUNTRYWIDE BANK, FSB Lenderisa FED SVGS BANK organized and existing under the laws of THE UNITED STATES Lender's address is 1199 North Fa~rfax St! Ste.SOO, Alexandr~a, VA 22314 (E) "Note" means the promissory note signed by Borrower and dated AUGUS T 21, 2008 . The Note states that Borrower owes Lender FIFTY THOUSAND and 00/100 Do11ars (U.S. $ 50,000.00 ) plus mterest Borrower has pronused to pay this debt in regular Periodic Paymentc¡ and to pay the debtin full not later than SEPTEMBER 01 ( 2038 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property," (G) "Loan" means the debt evidenced by the Note, plus mterest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest (H) "Riders" means all Riders to this Secunty Instrument that are executed by Borrower. The following Riders are to be executed by Börrower [check box as applicable]: o Adjustable Rate Rider D Balloon Rider o VA Rider o Condonunium Rider D Planned Umt Development Rider o Biweekly Payment Rider o Second Home Rider IKJ 1-4 Fanûly Rider o Other(s) [specify] WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS MERS Mortgage-WY 2006A-WY (04l08)(dII) Page 1 of 9 Form 3051 1/01 IUIIII . 2 3 991 · III~IIIIII.I~IIII · 194 9 066 0 3 0 0 0 0 0 2 0 0 6 A · C:Oû325 DOC ID i: 00019490660308008 (I) "Applicable Law" means aU contro1Hngapp1ícable federal, state and local statutes, regulations, ordinances and admmistrabve rules a.nd orders (that have the effect of law) as wen a~ all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessnaents" means all dues, fees, assessments and other charge.~ that are imposed on 'Borrower or the Property by a condominium association, homeowners aqsociation or similar orgaruzation. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transa<:tion originated by check, draft, or similar paper instrument, which IS Jnitiated through an electrOI11C temunal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financIal institution to debit or credit an account. Such term 1ßcludes, but IS not limIted to, pomt-of-sale transfers, automated te)]er machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means Ù10se items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damage.q, or proceeds paíd by any third party (other than 1ßsutance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnaûôn or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or ori1ÍssIons as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means msurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) pnncipal and interest under the Note, p1us (ií) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its Implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successox legislation or regulation that governs the same subject matter. As used in this Secur1ty Instrument, "RESPA" refers to all reqwrements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not quaJify as a "federally related mortgage loan" under RESP A. ' (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and aU renewals, extensions and modifications of the Nöte;and (ii) the perfoimance of Borrower's covenant.'J and agreements under this Security In.qtnunent and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender' s succe.~sors and assIgns) and to the successors and a~sJgns of MERS, with power of saJe, the following described property located in the COUNTY [Type of Recording Jurisdiction) SEE EXHIBIT "A" ATTACHED HERETO LINCOLN [Name of Recording Jurisdiction) AND MADE A PART HEREOF. of Parcel ID Number: 12 - 3118 -1 8 - 3 - 0 0 -1 7 3 . 00 which currently has the address of 2360 STATE HIGHWAY 241, AFTON [Street/City] Wyoming 83110 ("Property Address"): [Zip Code) TOGETHÈR WITH all the improvement.~ now or hereafter erected on the property, and aU easements, appurtenances, and fixtures now or hereafter' a part of the property. AU replacements and additions shall also be covered by this Security Instrument. All of the foregoing IS referred to m this Security Instrument as the "Property," Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Secudty Instrument, but, íf necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the rIght: to exercise any ox all of those Interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action requued of Lender including, but not limited to, relea~ing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the e.'Jtate hereby conveyed and has the tIght to mortgage, grant and convey the Property and that the Property IS unencumbered, except for encumbrances of record. Borrower warrantq and will defend generaJly the title to the Property against all claims and demands, subject to any encumbrances of record. . TillS SECURITY INSTRUMENT combines unifonn covenant.'J for national use and non-unifonn covenants with limIted variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of PrlDcipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the pnncipal of, and intere.~t on, the debt evidenced by the Note and any prepayment charge.o; and late MERS Mortgage-WY 2006A-WY (04108) Page 2 of 9 Form 3051 1/01 f.:Oû326 DOC ID t: 00019490660306008 charges due under the Note. Borrower shall also pay fund<; for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shaU be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may reqwre that any or all subsequent payments due under the Note and this Secunty Instrument be made 111 one or more of the foUowmg forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, trea<¡urer's check or cashier's check. provIded any such check IS drawn upon an IDstttution whose deposit<; are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed receIVed by Lender when received at the location de.<;ignated in the Note or at such other location as may be designated by Lender in accordance WIth the notice provIsions in Section 15. Lender may 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 nghts hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender .i.<; not obJigated to apply such payments at the time such payment<¡ are accepted. If each Periodic Payment is appJied as of its scheduled due date, then Lender need not pay ll1terest on unapplied funds. Lender may hold such unapplied funds 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 earJier, such funds wíll be applied to the outstanding princIpal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower mIght have now or in the future against Lender shaU relieve Borrower from making payments due under the Note and this Security Instrument or perfomung the covenant<¡ and agreements secured by this Security Instrument 2. AppJicatloi1 of Payments or Proceeds.· Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the foUowing order of priority: . (a) interest due under the Note; (b) princIpal due under the Note; (c) amounts due under Section 3, Such payments sha1l be applied to each Periodic Payment in the order in which It became due. Ally remaining amounts shall be applied first to late charges, second to any other amounts due under this Secunty Instrument, and then to reduce the princípal balance of the 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 {ate 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 plUd in full. To the extent that any excess eXIsts after the payment is applied to the full payment of one or mQre. Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Ally application of payments, ll1surance proceed<;, or Miscellaneous Proceed'! 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, until the Note IS paid in fu)], a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other Items which can attain priority over this Security Instrutnent a.<¡ alien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and aU insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, If any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums m accordance with the provisions of Section 10. These items are caUed "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community AssocIation Dues, Fees, and Asse.<;sments, if any, be escrowed by Borrower, and such dues, fee.<; and assessment<¡ shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for E.'!crow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be:in wnting. In the event of such WlUver, Borrower shall pay directly, when and where payable, the amounts due for any E.<;crow Items for which payment of Funds has been waived by Lender and, If Lender require.<;, shall furnish to Lender receipts evidencing such payment wIthin such time period as Lender may require. Borrower's obligauon to make such payments and to provide receipt'! 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 111 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 right<¡ under Section 9 and pay such amount and Borrower shan then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the wlUver as to any or an Escrow Items at any time by a notice gIven in accordance wIth Section 15 and, upon such revocation, Borrower shan pay to Lender an Fund<;, and in such amounts, that are then required under this Section 3. Lender may, at any time, coUect and hold Funds in an amount (a) sufficient to permit Lender to apply the Fund') at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Fund<; due on the basis of current data and reasonable e.<;timates of expenditure.<; of futute Escrow Items or otherwIse 10 accordance WIth AppJicable Law. The Fund<; shall be held in an instItution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, If Lender is an mstitution whose deposit<; are so 1I1sured) 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 e.<;crow account, or verifying the Escrow Items, unless Lender pays Borrower mterest on the Funds and Applicable Law pennit<¡ Lender to make such a charge. Unless an agreement is made m writing or Applicable Law require.<; interest to be paid on the Funds, Lender shall not be required to pay Borrower any mtere.<¡t or earnings on the Funds. Borrower and Lender can agree 111 writing, however, that interest shall be paid on the Funds. Lender shall gIVe to Borrower, without charge, an annual accounting of the Funds as required by RESP A. If there is a surplus of Fund'! held in e.<¡crow, as defined under RESP A. Lender shall account to Borrower for the exces.<; funds m accordance wIth RESPA. If there is a shortage of Fund<; held in e.<;crow, as defined under RESPA, Lender shall notify BOlTower as required by RESP A, and Borrower shall pay to Lender the amount nece.<¡sary to make up the shortage 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 necessary to make up the deficIency in accordance with RESP A, but in no more than 12 monthly payment<;. MERS Mortgags-WY 2006A-WY (04108) Page 3 of 9 Form 3051 1/01 (',00327 ....... DOC ID t: 00019490660308008 Upon payment in full of al1 sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Chárges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and imposItions attributable to the Property which can attam priority over this Security Instrument,-leasehold payments or ground rents on the Property, if any, and Commuruty Association Dues, Fees, and Assessments, if any. To the extent that these Items are Escrow Items, BOlTower shan pay them in the manner provided in Section 3. BOlTower shall promptly discharge any Jien which has pnority over this Security Instrument unless Borrower: (a) agrees in wnting to the payment of the obJigation 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 agamst enforcement of the Jien in, legal proceedings which ill Lender's opmlOn operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the Jien an agreement satisfactory to Lender subordin;lting the. lien to this Secur1ty InstnIment. If Lender determmes that any part of the Property is subject to a lien which can attain priOrity over this Secur1ty Instrument, Lender may give Borrower a notice Identifying the lien. Within 10 days of the date on which that notice IS given, Borrower shan 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 Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property lOSured against loss by fire, hazards included within the term "extended coverage," and any other hazard'i mcluding, but riot limited to, earthquakes and floods, for which Lender requires msurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender reqwres 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 chOlce, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection WIth this Loan, eIther: (a) a one-time charge for flood zone determination, certification and tracking serVICe.'i; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappmgs or silD1lar changes occur which reasonably might affect such determination or certificatJon, Borrower shall also be responsible for the payment of any fees Imposed by the Federal Emergency Management Agency in connection WIth the reV1ew of any flood zone determination re.'iulting 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 Bottower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect BOlTower, Borrower's equity in the Property, or the contents of the Property, agamst any nsk, hazard or liability and might provIde greater or lesser coverage than was prevIously m effect. Borrower acknowledge.o¡ that the cost of the insurance coverage so obtained ID1ght sIgmficantly exceed the cost of insurance that Borrower could have obtained. Any amountc¡ disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear mterest at the Note rate from the date of disbursement and shall bð payable, with such intere.c¡t, upon notice from Lender to Borrower requesting payment. AU insurance policIes requued by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policIes, shaJI include a standard mortgage clause, and shall name Lender as mortgagee and/or a'i an additional loss payee. Lender shall have the right to hold the polic1es and renewal certificates. If Lender requires, Borrower shall promptly glve to Lender all receIpts of paid premiums and renewal notice.o¡, If BOlTower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or de.'itruction of, the Property, such policy shall mclude a standard mortgage clause and shall name Lender as mortgagee and/or as an additionallo.'is 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 agreð in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be appIied to re.'itoration or repaIr of the Property, if the restoratIon or repatr 1S economically feas1ble and Lender's secunty is not lessened. During such repair and re.'itoration period, Lender shall have the nght 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 satisfaction, proV1ded that such inspectJon shall be undertaken promptly. Lender may disburse proceeds for the repairs and re.'itoration lß a single payment or in a series of progress paymentc¡ as the work is completed. Unless an agreement IS made in wnting or AppJicable Law require.'i intere.c¡t to be paid on such lßsurance proceeds, Lender shall not be reqwred to pay Borrower any interest or eanungs on such proceeds. Fee.'i for public adjusters, or other third parties, retamed by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the re.'itoration or repair is not econom1cally feac¡ible or Lender's security would be lessened, the msurance 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 msurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any avallable insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance camer has offered to settle a claim, then Lender may negotiate and settle the claIm. The 30-day penod will begm when the notice is glven. In either event, or If Lender acquire.'i the Property under Section 22 or otherw1se, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpatd under the Note or this Security Instrument, and (b) any other of Borrower's righto¡ (other than the right to any refund of unearned premIUms paid by Borrower) under all insurance POliCie.c¡ covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repau or restore the Property or to pay amounts unpaId under the Note or this Secur1ty Instrument, whether or not then due. 6. Occupancy. BOlTower shall occupy, establi'ih, and use the Property a'i Borrower's principal re.o¡idence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property ac¡ Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees 10 writing, which consent shall not be unreao¡onably withheld, or unless extenuating clfcumstances eXIst which are beyond Borrower's control. MERS Mortgage-WY 2006A-WY (04108) Page 4 of 9 Form 3051 1/01 (:.Oô328 DOC ID *: 00019490660306006 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shaJI not destroy, damage or impaIr the Property, aHow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall malnta1ß the Property ]ß order to prevent the Property from deteriorating or decrea.~ing in value due to its condition. Unless It IS de\ennined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shan promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damåge 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 purpose.~. Lender may disburse proceeds for the repairs and re.o;toration in a smgle payment or in a series of progres.o; payment~ a.o; the work is completed. If the insurance or condemnation proceeds are not suffiCient to repaIt or re.o;tore the Property, Borrower is not relieved of Borrower's obligatíon for the completion of such repaIt or re.o;toration. Lender or its agent may make reasonable entrie.<; upon and inspections of the Property. If it has rea.<;onable cause, Lender may inspect the interIOr of the improvement.o; on the Property. Lender shan gIVe Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in 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 materially false, misleading, or inaccurate mformation or statemento; to Lender (or failed to provide Lender wIth material infonnation) in connection with the Loan. Material repre.~entations include, but are not limIted to, representatíons concernmg Borrower's occupancy of the Property as Borrower's pnncIpal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perfonn the covenant.<; and agreements contained in thi.o; Security Instrument, (b) there IS a legal proceeding that mIght significantly affect Lender's Interest in the Property and/or rights under this Secunty Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain prmrity over this SecurIty Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, Ûlen Lender may do and pay for whatever is reasonable or appropriate to protect Lender's lDterest in the Property and rights under this Security Instrument, including protecting and/or ásSes.o;ing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing lD court; and (c) paying reasonable attorneys' fees to protect it.<; interest 10 the Property and/or righL<; under this Security Instrument, mcluding Íts secured position in a bankruptcy proceeding. Securing the Property includes, but i.o; not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, dram water from pJpes, eliminate buIlding or other code violatIons or dangerous conditions, and have utilitie.1! turned on or off. Although Lender may take action under this Section 9, Lender doe.o; 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 tills Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amount<; shall bear lDterest 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 Instrument is on a leasehold, Borrower shall comply with all the provisions of Ûle lease. If Borrower acqwres fee title to the Property, the leasehold and the fee title shall not merge unless Lender agree.<; to the merger lD writing. 10. Mortgage Insurance. If Lender requíred Mortgage Insurance as a condition of making the Loan, Borrower shall pay the preJDlums reqwred to malDtam the Mortgage Insurance m effect. If, for any rea.o;on, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage lDsurer that previously provided such msurance and Borrower was reqwred to make separately designated payment<; toward the premIums for Mortgage Insurance, Borrower shall pay the premrums requíred to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance prevIously in effect, from an alternate mortgage insurer' selected by Lender. If substantially equivalent Mortgage Insurance coverage is not avallable, Borrower shall continue to pay to Lender the amount of the separately designated payment~ that were due when the insurance coverage cea.o;ed to be ]ß effect. Lender wIll accept, use and retain the.<¡e payment<; as a non-refundable loss re.<;erve 10 lieu of Mortgage Insurance. Such 108S re.<;erve shall be non-refundable, notwIthstanding the fact that the Loan is ultimately patd in full, and Lender shall not be required to pay Borrower any interest or eamings on such loss reserve. Lender can no longer require loss re.o;erve payments If Mortgage Insurance coverage (in the amount and for the penod that Lender requíres) provided by an insurer selected by Lender again becomes avallable, is obtained, and Lender requires separately designated payments toward the preDlIums for Mortgage Insurance. If Lender reqwred Mortgage Insurance as a condition of making the Loan and Borrower wa<; reqUIred to make separately designated payment<; toward the premIUms for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance Iß effect, or to provIde a non-refundable loss re.<¡erve, until the Lender's reqUIrement for Mortgage Insurance ends lD accordance wIth any written agreement between Borrower and Lender provIding for such termination or until termmation is reqUIred by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay mtere.o;t at the rate provided in the Note. Mortgage Insurance reImburses Lender (or any entity that purchase.o; the Note) for certalD losses it may lOcur if Borrower does not repay the Loan a<; agreed. Borrower is not a party to the Mortgage Insurance. Mortgage msurers êvaluate their total risk pn all such inslifance in force from time to time, and may enter mto agreements wIth other parties that share or modify their risk, or reduce losse.<;. These agreements are on terms and conditions that are satisfactory to the mortgage Insurer and the other party (or partie.o;) to these agreement<;. These agreements may requtre the mortgage insurer to make payments using any source of funds that the mortgage msurer 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 affiliate of any of the foregolOg, may receIve (directly or mdirectIy) amounts 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 affmate of Lender takes a share of the msurer's nsk m exchange for a sháre of the premlums paid to the Insurer, the arrangement ís often termed "captive remsurance." Further: MERS Mortgage-WY 2006A-WY (04108) Page 5 of 9 Form 3051 1/01 00&329 DOC ID #: 00019490660308008 (a) Any such agreements wm not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will òwe for Mortgage b1sUFance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any othe... law. These rights may include the right to receive certain disclosures, to request and obtaha cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, andlor to reteive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of MIscéllaneous Proceeds; Forfeiture. AU Misce]]aneous Proceeds are hereby assigned to and shan be-paid to Lender. If the Property is da1naged, such MisceUaneous Proceeds shan be applied to restoration or repair of the Property, If the re.'Jtoration 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 Miscellaneous Proceed'J until Lender has had an opportunity to inspect such Property to enSure the work has been completed to Lender's satisfaction, provided that such 1Ospection shall be undertaken promptly, Lender may pay for the repairs and restoration in a single disbursement or m a serIe.'J of progress payments as the work is completed. Unless an agreement is made 10 writing or Applicable Law require.'J mterest to be paId on such MisceUaneous Proceeds, Lender shaU not be required to pay Borrower any mterest or earmngs on such Miscellaneous Proceeds. If the re.~toration or repair is not economically feasible or Lender's security would be lessened, the Misce]]aneous Proceeds shaJI be applied to the sums secured by this SecurIty Instrument, whether or not then due, with the excess, if any, patd to Borrower. Such Miscel]aneous 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 Proceed., shall be applied to the sums secured by this Security InstruIJ1ent, whether or not then due, with the excess, if any, paId to Borrower. In the event of a partial taking, destruction, or los,s in value of the Property m which the fair market value of the , Prop~rty 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 10 value, unless Borrower and Lender otherwise agree 10 writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the fo]]owing fraction: (a) the total aniount of the sums secured Immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property Immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property JInmediate]y before the partial taking, de.'Jtruction, or loss in value is less than the amount of the sums secured JInmediate]y before the partial taking, destruction, or loss ill value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shaU 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 settle a claim for damages, Borrower faiL'J to respond to Lender within 30 days after the date the notice is given, Lender JS authorized to collect and apply the Miscellaneous Proceeds eJther to restoration or repaJt of the Property or to the sums secured by this SecurIty Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a rIght of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether CJvil or criminal, is begun that, m Lender's Judgment, could result in forfeiture of the Property or other material impairment of Lender's Interest in the Property or nghts under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the actIOn or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's 10terest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damage.'J that are attributable to the Impairment of Lender's mterest in the Property are hereby assIgned and shan be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provIded for in Section 2. . 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor 10 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 Succe.~sor 10 Intere.'Jt of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Secunty Instrument by reason of any demand made by the original Börrower or any Successors in Intere..,t of Borrower. Any forbearance by Lender in exercising any right or remedy 1Ocluding, wIthout limitation, Lender's acceptance of payments from third persons, entities or Succe.~sors in Interest of Borrower or In amounts le.'Js than the amount then due, shall not be a WaIver of or preclude the exercise of any right or remedy. 13. Joint and Several Uabllity; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) IS co-sIgning this Security Instrument only to mortgage, grant and convey the co,sIgner's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this SecurIty Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this SecurIty Instrument or the Note without the co-sIgner's consent. Subject to the provIsions of Section 18, MY Successor 10 Interest of Borrower who assuptes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's nghts and benefits under this Secunty Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release 10 writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assign.'J of Lender. MERS Mortgage-WY 2006A-WY (04108) Page 6 of 9 Form 3051 1/01 üOv330 DOC ID #: 00019490660308008 14. Loan Charges. Lender may charge Borrower fees for servIces performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, includjng, but not liooted to, attorneys' fees, property inspection and v81uation fees. In regard to any other fees, the absence of express authority In thi.':I Security Instrument to charge a specJfic 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 Secunty Instrument or by Applicable Law. If the Loan is subject .to a law which sets maximwn loan charges, and that law is finally inteIpreted so that the mterest or other loan charges collected or to be collected in connection with the Loan exceed the pemûtted liOO18, then: (a) any such loan charge shall be reduced by the amount nece.':Isary to reduce the charge to the permitted limit; and (b) any swns 81ready collected from Borrower which exceeded permitted limits wiJ1 be refunded to Borrower. Lender may choose to make this refund by reducing the princip81 owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction WIll be treated 3.':1 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 wj]] constitute a waiver of any nght 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 111 writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been gtven to Borrower when maiJed by first class matI or when actua11y delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constItute notice to all Borrowers unless Applicable Law expre.':Isly requires otherwise. The notice address sha11 be the Property Address unless Borrower has de.':Iignated a substitute notice address by notice to Lender. Borrower sh81l promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower sha]] only report a change of addre.':Is 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 maiJing It by first class mail to Lender's address stated herem unless Lender has designated another address by notIce to Borrower. Any notice 111 connection WIth this Security Instrument shal1 not be deemed to have been given to Len~er until actu81ly received by Lender. H any notice required by this Security Instrument is also reqwred under Applidable Law, the Applicable Law requirement wIll satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. AH rights and obligations contalOed in this Security Instrument are subject to any reqwrements 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 conflict ':I wIth Applicable Law, such conflict shall not affect other provislOns of this Security Instrument or the Note which can be gIven effect wIthout the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shaU mean ;\Od include corresponding neuter words or word':l Qf the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion WIthout any obJigation to take any action. 17. Borrowø-'s Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest In Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, lOcluding, but not limited to, those beneficial intere.':Its transferred in a bond for deed, contract for deed, 1I1stallment sales contract or e.o¡crow 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 natur81 person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may reqwre immediate payment in full of all s'¥Ds 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. The notice shall provide a period of not les.':I 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 the.o¡e swns pnor to the expIIation of this pefJod, Lender may invoke any remedies permitted 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 sh81l have the nght to have enforcement of this SecurIty Instrument di':lcontínued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contamed in this Security Instrument; (b) such other period as Applicable Law might specIfy for the tennmatíon of Borrower's rIght to remstate; or (c) entry of a judgment enforcmg this Security Instrument. Those conditions are that Borrower: (a) pays Lender aU sumo¡ which then would be due under this Security Instrument and the Note a<¡ if no acceleration had occurred; (b) cure.<¡ any default of any other covenant ':I or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limIted to, reasonable attorneys' fees, property mspection and valuation fees, and other fees incurred for the pUIpose of protecting Lender's interest 10 the Property and righto¡ under this Security Instrument; and (d) take.':I such action as Lender may reasonably require to assure that Lender's interest 111 the Property and rights under this Secunty 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 sums and expenses in one or more of the follow1l1g forms, ao¡ selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, trea':lurer's check or ca~hier's check, provided any such check is drawn upon an institution whose deposIL~ are insured by a federal agency, instnimentality or entity; or (d) ElectronIc Funds Transfer. Upon reinstatement by Borrower, this Security Instrwnent and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to remstate shall not apply 111 the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer;. Notice of Grievance. The Note or a parbal interest in the Note (together with this Security Instrument) cari'be sold one or more times without prior notice to Borrower. A sale mIght re.o¡ult in a change in the entity (known as the "Loan Servicer") that collects Periodic Payment':l due under the Note and this SecurIty Instrument and performs other 1l10rtgage loan servicing obligations under the Note, this Security Instrument, MERS Mortgage-WY 2006A-WY (04108) Page 7 of 9 Form 3051 1/01 êO&33:1 DOC ID f: 00019490660308008 and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If thtre is a change of the Loan Servicer, Borrowerwj]] be given written notice of the change which wiJ1 state the name and addres.~ of the new Loan ServIcer, the address to which payments should be made and any other infonnation RESPA requires m connection wIth a notice of transfer of servicmg. If the Note is sold and thereafter the Loan is serviced by a Loan Servlcer other than the purchaser of the Note, the mortgage loan servicing obJigadons to Borrower will remam 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 purcha.~er. Neither Borrower nor Lender may commence, jom, or be joined to any jUdiCIal action (as either an individual litigant or the member of a cla.~s) that ¡ujses from the other party's actions pursuant to this Security Instrument or that alleges that the other p~ has breached aI1y provision of, or any duty owed by reason of, this Secunty Instrument, unlil such Borrower or Lender has notified the other party (with such notice given in compliance with the requirement~ of Section 15) of such alleged breach and afforded the other party hereto a reasonable penod 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 wiU be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opporturuty to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deem~d to satisfy the notice and opportunity to take corrective actlOn ptovisions of this Section 20. 21. Hazardous SubstaDces. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wa.~tes by EnvJlonmental Law and the following substances: ga.~oline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materIals containing asbestos or fonnaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the Junsdicbon where the Property is located that relate to health, safety or environmental protection; (c) "EnvJfonmental Cleanup" mcludes any tesponse action, remedial action, or removal aCllOn, as defined 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 penmt the presence, use, disposal, storage, or relea.~e 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 m 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 Substance.~ that are generally recognized to be appropnate to nonnal re.~idential use.~ and to malOtenance of the Property (including, but not Jimited to, hazardous substances in consumer products). Borrower sball promptly gíve Lender 'fritten notice of (a) any mve.~dgation, claim, demand, lawsuit or other action by any governmental or regulatory agency or pnvate party involvmg the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limIted to, any spIlling, leaking, discharge, release or thteat of release of any Hazardous Substance, ànd (c) any condition caused by the pre.~ence, use or release of a Hazardous Substance which adversely affects tbe value of the Property. If Borrower leams, or IS notified by any govemmental or regulatory authority, or any private party, that any removal or óther remediation of any Hazardous Substance affecting the Property is necessary, Borrower shan promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herem shall create any obligation on Lender for an EnvlIonmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender· shall give notice to Borrower prior to acceleratioD following Borrower's breach of aDY coveDant or agreemeDt hi this Security Instrument (but not prior to acceleratioD under SectioD 18 unless Applicable Law provides otherwise). The notice shan specify: (a) the default; (b) the actioD required to cure the default; (c) a date, Dot less thau 30 days from the date the DOtice is given to Borrower, by which the default must be cured; aDd (d) that failure to cUFe the default on or before the date speclfied hi the Dotice may result hi acceleratioD (if the sums secured by this Security Instrument and sale of the Property. The notice shall further iDform Borrower of the right to reinstate after acceleratloD and the right to bring a court actiOD to assert the nOD-eDstence of a default or auy other defeDse of Borrower to acceleration aDd sale. If the default is not cured OD or before the date specified iD the notice, Lender at its option may require immediate paymeDt iD fuJl of all sums secured by this Security InstrùmeDt without further demaDd aDd may iDvoke the power of sale aud aDY other remedies permitted by Applicable Law. Lender shall be entitled to conect all expeDses incurred in pursuiDg the remedies provided hi this SectiOD 22, iDcludiug, but Dot limited to, reasonable attorneys' fees and costs of titie evideDce.. If LeDder hlvokes the power of sal~ Lender shall give DOtice of intent to foreclose to Borrower and to the person hi possession of the Property, if differeDt, ID accordaDce With Applicable Law. LeDder shall give notice of the sale to Borrower iD the maDner provided hi Section 15. LeDder shall publish the notice of sale, aDd the Property shall be sold hi the manner prescribed by AppJicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied hi the followiDg order: <a) to all expeDses of the sale, includiDg, but Dot limited to, reasoDable attorneys' fees; (b) to all sums secured by this Security IDstrument; and (c) aDY excess to the persoD or perSODS legàlly entitied to it. 23. Release. Upon payment of all sums secured by this Secunty Instrument, Lender shall release this Security Instrwnent. Borrower shall pa)' any recordation cost.~. 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 pel1DJtted under Applicable Law. . MERS Mortgage-WY 2006A·WY (04108) Page 8 of 9 Form 3051 1/01 (:Oô332 DOC ID f: 00019490660306006 24. Waivers. Borrower releases and waives al1 rights under and by virtue of the homestead exemption Jaws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenant.\) con tamed in this Security Instrument and in any Rider executed by Borrower and recorded with it. GMd7<,~ CAROL R. DRANEY (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower State of v-W\ ~ mif County of before me on ø' D0 (Seal, if any) ROBYNJOHNSON t. HOTARYP/JBLJC·ørOFUTAH i~~ 618 SOUTH STATE STREET ~. ~ ORBI, UTAH 84058 " "", COMM. EXP. ø.a.2011 t1~ vtJblw I Title (and Rank) My commission expires: {j; 'J7p .Ø1J/ / MERS Mortgage-WY 2006A-WY (04108) Page 9 of 9 Form 3051 1/01 Prepared by: JENNY SELBY COUNTRYWIDE BANK, FSB (:00333 Office #: 0001107 321 EAST STATE ROAD, SUITE 150 DATE: 08/21/2008 AMERICAN FORK, UT 84003 CASE #: Phone: DOC ID#: 00019490660308008 Office Fax No.: BORROWER: CAROL R. DRANEY PROPERTY ADDRESS: 2360 STAIE HIGHWAY 241 AFTON, WY 83110 LEGAL DESCRIPTION EXHIBIT A That part of the South Half of the South Half of the Southwest Quarter of Section 18, Township 31 North, Range 118 West, LincoJn County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 323 of'Photostatic Records on page 296, described as follows: Beginning at the Northwest comer of said South Half of the South Half of the Southwest Quarter, found as described in the Corner Record filed in said Office; thence South 89°47'10" East, 597.15 feet, along the North line of said South Half of the South Half of the Southwest Quarter to the Northwest point of that tract of record in said Office. in Book 327 of Photostatic Records on page 696; thence South 00°20'40" West, 212.28 feet, along the West line of said tract in Book 327, to a point; . thence North 89°43'46" West, 457.15 feet to a point; thence continuing North 89°43'46" West, 140.00 feet to a spike on the West line of said South Half of the South Half of the Southwest Quarter; . thence North 00°20'40" East, 211.69 feet, along said West line to the Corner of Beginning. FHNVNCONV legal Description ExhlbH A 2C404·XX (04I03)(d) IIIIII~ II · 2 3 991 · 11111 1m 1111111111111111I I · 194 9 066 0 3 0 0 0 0 0 2 0 0 6 A · ÜOû334 1-4 FAMILY RIDER (Assigmnent of Rents) 6010817049 [Escr.ow/Closing #J 00019490660308008 [DOC ID #J TIllS 1-4 FAM1LY RlDER is made this TWEJ:.'ITY-FIRST day of AUGUST , 2008 ,and IS lOcorporated into and sha]] be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to COUNTRYWIDE BANK, FSB (the "Lender") of the same date and coverlOg the Property descnbed in the Secunty Instrument and located at: 2360 STATE HIGHWAY 241 AFTON, WY 83110 [Property Address] 1-4 FAMILY COVENANTS. In addition to the covenants and agreements made m the SecUrity Instrument, Borrower and Lender further covenant and agree as foJlows: A. ADDITIONAL PROPERTY SUB.fflcr TO TIlE SECURITY INSTRUMENT. In addition to the Property described in the Security Instrument, the fo]]owing items now or hereafter attached to the Property to the extent they are fixtures are added to the Property de.o¡cnption, and shall also constitute the Property covered by the Security InstriUnent: bwlding materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or used, or inteQded to be used in conneètion with the Property, mcluding, but not limited to, those for the purposes of supplymg or distributing heating, cooling, electricity, gas, water, air and light, fire prevention and extingmshing apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closetc¡, sinks, range.c¡, stoves, refrigerators, dishwashers, disposals, washers, dryers, aWß1ngs, storin windows, storm doors, screens, blinds, shades, curtains and curtam rods, attached inirrors, cabinets, paneling and attached floor covenngs, all of which, including replacements and additions thereto, sha]] be deemed to be and remain a part of the Property covered by the Security Instrwnent. All of the foregoing together with the Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to m this 1-4 Farruly Rider and the Secunty Instrument as the "Property." B. USE OF PROPERTY; COMPLIANCE WITH LA W. Borrower shall not seek, agree to or make a change in the use of the Property or Its zoning c1asslfication, unless Lender has agreed in wnling to the change. Borrower shall comply· with aU laws, ordinances, regulations and reqwrements of any governmental body applicable to the Property. C. SUBORDiNATE LIENSf Except as permitted by federal law, BOITower shall not allow any Hen inferior to the Secutlty Instrwnent to be perfected against the Property wIthout Lender's ptJor wntten ~rmission. D. RENT LOSS INSURANCE. Borrower shall mamtain insurance against rent loss 10 addition to the other hazards for which msurance is reqwred by Section 5. E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted. F. BORROWER' S OCCUPANCY. Un1e.~s Lender and Borrower otherwlse agree in wnting, Section 6 conGeming Borrower's occupancy of the Property IS deleted. G. ASSIGNMENT OF LEASES. Upon Lender's request after default. Borrower shall asslgn to Lender al1 leases of the Property and an security deposiLO¡ made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or tennmate the existing lease.o¡ and to execute new lease.c¡, inLender's sole discretion. As used in this paragraph G, the word ''lease'' shall mean "sublease" if the Security Instrwnent is on a leasehold. H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and unconditionally assigns and transfers to Lender all the rents and revenue.'i ("Ren!.c¡") of the Property. regardle.c¡s of to whom the Rents of the Property are payable. Borrower MULTlSTA TE 1-4 FAMll..Y RIDER-Fannie Mae/Freddle Mac UNJFORM INSTRUMENT 1-4 Family Rider 2057R·XX (09107)(dIl) Page 1 of 3 Form 3170 1101 11111 ~ I · 2 3 991 · I~IIIIIU~III~ ~nll ~ . 1 9 4 9 0 6 6 0 3 0 0 0 0 0 2 0 5 7 R * t: O:tj¡335 DOC ID #: 00019490660308008 autborizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's agento¡. However, Borrower shall receJVe the Rents until (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are to be paId to Lender or Lender's agent. This assIgnment of Rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notIce of default to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of Lender only, to be appJied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to conect and receIVe all of the Rents of the Property; (m) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's wriUen demand to the tenant; (iv) unless applicable law provIdes otherwIse, all Rents conected by Lender or Lender's agents shall be applied first to the costs of taking control of and managmg tbe Property and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, premiums on receIver's bonds, repair and maintenance costo¡, insurance premiums, taxes, assessmento¡ and other charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agento¡ or any judicially appointed receiver shall be liable to account for only those Rents actually receIved; and (vi) Lender shall be entitled to have a receiver aPPolllted to take possession of and manage the Property and collect the Rents and profits derived from the Property WIthout any showing as to the inadequacy of the Property as security. If the Rents of the Property are not sufficIent to cover the costo¡ of taking control of and managing the Property and of collectmg the Rento¡ any funds expended by Lender for such purposes sball become indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. Borrower represents and warrants that Borrower has not executed any pflor assignment of the Rento¡ and has not performed, and WIn not perform, any act that would prevent Lender from exercIsing its C1ghts under this paragraph. Lender, or Lender's agents or a judicIally appomted receiver, shall not be requtred to enter upon, take control of or maintain the Property before or after giving notice of default to Borrower. However,. Lender, or Lender's agents or a Judicially appointed receiver, may do so at any time when a defawt occurs. Any application of Rents shall not cure.. pr waive any default or mvaIjdate any other right or remedy of Lender. This assIgnment of Rento¡ of the Property shall tennmate when all the sums secured by the Security Instrument are prod in fwI. MULTISTATE 14 FAMILY RlDER..FalU1ie MaelFreddlc Mac UNIFORM INSTRUMENT 1-4 Family Rider 2057R-XX (09/07) Page 2 of 3 Form 3170 1/01 úOt:¡'336 DOC ID #: 00019490660308008 L CROSS·DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an mterest shall be a breach under the Security Instrument and Lender may !Ovoke any of the remedies pel1Il1tted by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenant~ contained in this 1-4 Family Rider. Û;lAfJl72 Ûlih1ilÁ:r CAROL R. DRANEY (Seal) - Borrower (Seal) - Borrower (Sea]) - Borrower (Seal) - Borrower MULTISTATE 1-4 FAMILY RIDER..Fannie Mae/Fredd1e Mac UN'lFORMINSTRUMENT 1-4 Family Rider 2057R·XX (09/07) Page 3 of 3 Form 3170 1/01