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RECEIVED 11/3/2008 at 12:46 PM
RECEIVING # 943377
BOOK: 708 PAGE: 390
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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00û390
[Space Above This Line For Recording Data]
FHA Case Number
591-1069031-734
State of Wyoming
LOAN# 000700538
Parcell.D. Number: 3519-33-2-00-239.02
MORTGAGE
THIS MORTGAGE ("Security Instrument") is given on October 31st, 2008
Jennifer A Goe
, The Mortgagor is
whose address is 7250 S Hwy 89 Evans 66 , Jackson, WY 83001
("Borrower"), This Security Instrument is given toFirst National Bank of Gillette
which is organized and existing under the laws of THE UNITED STATES OF AMERICA
address is 319 S Gillette Avenue, PO Box 3002, Gillette, WY 82717
, and whose
("Lender"), Borrower owes Lender the principal sum of
ONE HUNDRED FIFTY SIX THOUSAND EIGHT HUNDRED AND NO/100
Dollars (D,S, $156,800.00 ),
This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly
payments, with the full debt, if not paid earlier, due and payable on November 1st, 2038 . This Security
Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions
and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the
security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security
Instrument and the Note, For this purpose, Borrower does hereby mortgage, grant and convey to the Lender, with power of
sale, the following described property located in LINCOLN County, Wyoming:
See Attached Legal Discription
"
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which has the address of 502 James Way, Unit 502 , Freedom
Wyoming 83120 ("Property Address");
[Zip Code]
WYOMING - Single Family - FHA SECURITY INSTRUMENT - 6~96 .
GCC - 1590-1 WY (03/02)
Page 1 of 6 In ilia :
[Street, City].
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TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
fixtures now or hereafter a part of the property, All replacements and additions shall also be covered by this Security
Instrument. All of the foregoing is referred to in this Security Instrument as the .. Property, ' ,
BORROWER COVENANTS that Borrower is lawfully seized 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 uniform covenants for national use and non-uniform covenants with limited
variations by jurisdiction to constitute a uniform security instrument covering real property,
UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on, the
debt evidenced by the Note and late charges due under the Note.
2. Monthly Payments of Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment,
together with the principal and interest as set forth in the Note and any late charges, a sum of (a) taxes and special assessments
levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for
insurance required under paragraph 4, In any year in which the Lender must pay a mortgage insurance premium to the Secretary
of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender
still held the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance
premium to be paid by Lender to the Secretary, or (ii) a montWy charge instead of a mortgage insurance premium if this
Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly
charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds".
Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum
amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1914, 12
U,S,C. section 2601 et seq, and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time
("RESPA"), except that the cushion or reserve permitted by RESPA for unanticipated disbursements or disbursements before
the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium.
If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESP A, Lender shall account
to Borrower for the excess funds as required by RESP A, If the amounts of funds held by Lender at any time are not sufficient to
pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make up the shortage as permitted by
RESPA.
'The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Borrower tenders
to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining for all installment
items (a), (b) and (c) and any mortgage insurance premium installment that Lender has not become obligated to pay to the
Secretary, and Lender shall promptly refund any excess funds to Borrower, Immediately prior to a foreclosure sale of the
Property or its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments for
items (a). (b) and (c),
3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
First. to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the Secretary
instead of the monthly mortgage insurance premium;
Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard insurance
premiums, as required;
Third, to interest due under the Note;
Fourth, to amortization of the principal of the Note; and
Fifth, to late charges due under the Note,
4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in
existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which Lender requires
insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also
insure all improvements on the Property, whether now in existence or subsequently erected, against loss by floods to the extent
required by the Secretary, All insurance shall be carried with companies approved by Lender. The insurance policies and any
renewals shall be held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to Lender,
In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made
promptly by Borrower, Each insurance company concerned is hereby authorized and directed to make payment for such loss
directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by
Lender, at its option, either (a) to the reduction of the indebtedness under the Note and this Security Instrument, first to any
delinquent amounts applied in the order in paragraph 3, and then to prepayment of principal. or (b) to the restoration or repair
of the damaged Property. Any application of the proceeds to the principal shall not extend or postpone the due date of the
GCC - 1590-2WY (08/97)
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monthly payments which are referred to in paragraph 2. or change the amount of such payments. Any excess insurance proceeds
over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the
entity legally entitled thereto.
In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the
indebtedness, all right. title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower shall occupy. establish, and use the Property as Borrower's principal residence within sixty days after
the execution of this Security Instrument (or within sixty days of a later sale or transfer of the Property) and shall continue to
occupy the Property as Borrower's principal residence for at least one year after the date of occupancy. unless Lender
determines this requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are
beyond Borrower's control. Borrower shall notify Lender of any extenuating circumstances. Borrower shall not commit waste or
destroy, damage or substantially change the Property or allow the Property to deteriorate. reasonable wear and tear excepted,
Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable
action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the
loan application process. gave materially false or inaccurate information or statements to Lender (or failed to provide Lender
with any material information) in connection with the loan evidenced by the Note. including, but not limited to, representations
concerning Borrower's occupancy of the Property as a principal residence, If this Security Instrument is on a leasehold.
Borrower shall comply with the provisions of the lease, If Borrower acquires fee title to the Property, the leasehold and fee title
shall not be merged unless Lender agrees to the merger in writing,
6. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
condemnation or other taking of any part of the Property. or for conveyance in place of condemnation. are hereby assigned and
shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security
Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument.
first to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any
application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are
referred to in paragraph 2. or change the amount of such payments. Any excess proceeds over an amount required to pay all
outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or
municipal charges. fines and impositions that are not included in paragraph 2, Borrower shall pay these obligations on time
directly to the entity which is owed the payment. Iffailure to pay would adversely affect Lender's interest in the Property. upon
Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments,
If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants
and agreements contained in this Security Instrument. or there is a legal proceeding that may significantly affect Lender's rights
in the Property (such as a proceeding in bankruptcy. for condemnation or to enforce laws or regulations), then Lender may do
and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of
taxes. hazard insurance and other items mentioned in paragraph 2,
Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this
Security Instrument. These amounts shall bear interest from the date of disbursement at the Note rate, and at the option of
Lender shall be immediately due and payable.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in
writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien
by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the
enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to the Lender subordinating the lien
to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over
this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
more of the actions set forth above within 10 days of the giving of notice.
8. Fees. Lender may collect fees and charges authorized by the Secretary,
9. Grounds for Acceleration of Debt.
(a) Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults,
require immediate payment in full of all sums secured by this Security Instrument if:
(i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to
or on the due date of the next monthly payment, or
(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this
Security Instrument.
(b) Sale Without Credit Approval. Lender shall. if permitted by applicable law (including section 341(d) of the
Garn-St Germain Depository Institutions Act of 1982, 12 U.S.C, 1701j-3(d» and with the prior approval of the
Secretary, require immediate payment in full of all sums secured by this Security Instrument if:
GeC - 1590-3WY (08/97)
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ÜOû393
(i) All or part of the Property. or a beneficial interest in a trust owning all or part of the Property, is sold or
otherwise transferred (other than by devise or descent). and
(ii) The Property is not occupied by the purchaser or grantee as his or her principal residence. or the
purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with
the requirements of the Secretary.
(c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender
does not require such payments. Lender does not waive its rights with respect to subsequent events,
(d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's
rights. in the case of payment defaults. to require immediate payment in full and foreclose if not paid. This Security
Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary.
(e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be
eligible for insurance under the National Housing Act within 30 DAYS from the date hereof, Lender may. at its
option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any
authorized agent of the Secretary dated subsequent to 30 DAYS from the date hereof, declining to insure this
Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the
foregoing. this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's
failure to remit a mortgage insurance premium to the Secretary.
10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of
Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure
proceedings are instituted, To reinstate the Security Instrument. Borrower shall tender in a lump sum all amounts required to
bring Borrower's account current including. to the extent they are obligations of Borrower under this Security Instrument,
foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure
proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect
as if Lender had not required immediate payment in full, However, Lender is not required to permit reinstatement if: (i) Lender
has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the
commencement of a current foreclosure proceeding. (ii) reinstatement will preclude foreclosure on different grounds in the
future. or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification
of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to
commence proceedings against any successor in interest or 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 Borrower's
successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
exercise of any right or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this
Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions of
paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to'mortgage. grant and convey that
Borrower'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 may agree to extend. modify. forbear or
make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address
or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to
Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security
Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the
jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
given effect without the conflicting provision, To this end the provisions of this Security Instrument and the Note are declared
to be severable.
15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
Hazardous Substances on or in the Property, Borrower shall not do, nor allow anyone else to do, anything affecting the
Property that is in violation of any Environmental Law, 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 normal
residential uses and to maintenance of the Property.
GCC - 1590-4WY (08/97)
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Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law
of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority. 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.
As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products. toxic
pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials, As used in
this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
relate to health. safety or environmental protection,
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the
Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the
Property to pay the rents to Lender or Lender's agents, However, prior to Lender's notice to Borrower of Borrower's breach of
any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property
as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an
assignment for additional security only,
If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for
benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and
r~ceive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or
Lender's agent on Lender's written demand to the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent
Lender from exercising its rights under this paragraph 17.
Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach
to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of
rents shall not cure or walve any default or invalidate any other right or remedy of Lender, This assignment of rents of the
Property shall terminate when the debt secured by the Security Instrument is paid in full.
18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the
power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in
pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title
evidence,
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in
possession of the Property. if different, in accordance with applicable law. Lender shall give notice of the sale to Borrower in
the manner provided in paragraph 13, Lender shall publish the notice of sale, and the Property shall be sold in the manner
prescribed by applicable law, Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be
applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all
sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it.
If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires immediate payment in
full under paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage
For~closure Act of 1994 ("Act") (12 U,S,C, 3751 et seq,) by requesting a foreclosure commissioner designated under the Act to
commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the
Secretary of any rights otherwise available to a Lender under this paragraph 18 or applicable law,
19. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument
without charge to Borrower. Borrower shall pay any recordation costs,
20. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of curtesy
and dower in the Property,
GCC - 1590-5WY (08/97)
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21. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this
Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants
and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument.
[Check applicable box(es)]
OOCondominium Rider
DGraduated Payment Rider
DOther(s) [specify]
DGrowing Equity Rider
DPlanned Unit Development Rider
BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in this Security Inst11ìment and in any rider(s)
executed by Borrower and recorded with it.
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
IN WITNESS WHEREOF, Borrower has executed this Mortgage. ...........................
~ II II 1111. '0, Fenton _ tary Public ::
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= County of State of =
:: Lincoln Wyoming ::
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:: My Commission expires 10/11/2011 =
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STATE OF WYOMING,
County S8: .f2J..flt&.//"'~
The foregoing instrument was acknowledged before me this October 31st, 2008
(date)
by Jennifer A Goe
My Commission expires: 10 I I ~ I (
(person aCknOWledgdlng) ~/
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Prepared By:
Notary PUblicl) . ¡:-.eJ\..'~
~ltlll..III·.....r
ª 0, Fenlon . ~"M ~~M~ II II III II !:
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:: County of ::
:: Lincoln Slafe of ::
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···.......IIII.III.IP
First National Bank of Gillette
319 S Gillette Avenue
PO Box 3002
Gillette, WY 82717
Return Address:
First National Bank of Gillette
319 S Gillette Avenue
PO Box 3002
Gillette, WY 82717
GCC - 1590-6WY (02/03)
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C~Oü396
MORTGAGE ADDENDUM
The following is an Addendum to the Mortgage. The addendum shall be incorporated into, and recorded
with, the Mortgage.
TAX EXEMPT FINANCING RIDER
This Tax-Exempt Financing Rider is incorporated into and shall be deemed to amend the terms of the
Mortgage to which it is attached,
In addition to the covenants and agreements made in the Security instrument, Borrower and Lender
further covenant and agree as follows:
Lender, or such of its successors or assigns as may, by separate instrument, assume responsibility for
assuring compliance by the Borrower with the provisions of this Tax Exempt Financing Rider, may require
immediate payment in full of all sums secured by this Security Instrument if:
a) All of part of the Property sold or otherwise transferred (other than by devise, descent or
operation of law) by Borrower to a purchaser or other transferee:
i) Who cannot reasonably be expected to occupy the property as a principal
resident within a reasonable time after the sale or transfer, all as provided in
Section 143(c) and (i) (2) of the Internal Revenue Code; or
ii) Who has had a present ownership interest in a principal residence during any
part of the three year period ending on the date of the sale or transfer, all as
provided in Section 143(d) and (i) (2) of the Internal Revenue Code; or
iii) At an acquisition cost which is greater than 90 percent of the average area
purchase price (greater than 110 percent for targeted area residences), all as
provided in Section 143(e) and (i) (2) of the Internal Revenue Code; or
iv) Whose family income exceeds applicable income limits as provided in Section
143(f) and (i) (2) of the Internal Revenue Code,
b) Borrower fails to occupy the property described in the Security Instrument without prior
written consent of the lender or its successors or assigns described at the beginning of
this Tax Exempt Financing Rider, or
c) Borrower omits or misrepresents a fact that is material with respect to the provisions of
Section 143 of the Internal Revenue Code in an application for the loan secured by this
Security Instrument.
References are to the Internal Revenue Code as amended, in effect on the date of execution of the
Security Instrument and are deemed to include the implementing regulations,
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax-Exempt
Financing Rider,
MPP 210-B (Revised 12/95)
000397
CONDOMINIUM RIDER
FHA Case Number
LOAN# 000700538
591-1069031-734
THIS CONDOMINIUM RIDER is made this 31st day of October
2008 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust
or Security Deed ("Security Instrument") of the same date given by the undersigned ("Borrower") to secure
Borrower's Note ("Note") to First National Bank of Gillette, NATIONAL
BANK
("Lender") of the same date and covering the Property described in the Security Instrument and located at:
502 James Way, Unit 502 Freedom, WY 83120
[Property Address]
The Property Address includes a unit in, together with an undivided interest in the common elements of, a
condominium project known as:
[Name of Condominium Project]
("Condominium Project"), If the owners association or other entity which acts for the Condominium Project
("Owners Association") holds title to property for the benefit or use of its members or shareholders, the Property
also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Borrower's
interest.
CONDOMINIUM COVENANTS, In addition to the covenants and agreements made in the Security
Instrument, Borrower and Lender further covenant and agree as follows:
A, So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or
"blanket" policy insuring all property subject to the condominium documents, including all improvements now
existing or hereafter erected on the Property, and such policy is satisfactory to Lender and provides insurance
coverage in the amounts, for the periods, and against the hazards Lender requires, including fire and other hazards
included within the term "extended coverage," and loss by flood, to the extent required by the Secretary, then: (i)
Lender waives the provision in Paragraph 2 of this Security Instrument for the monthly payment to Lender of
MULTISTATE CONDOMINIUM RJDffi - Single Family - FHA Uniform Instrument ~/ì
GCC - 27622-1 (05/98) Page 1 or 2 InltlalS~
úO&398
one-twelfth of the yearly premium installments for hazard insurance on the Property, and (ii) Borrower's
obligation under Paragraph 4 of this Security Instrument to maintain hazard insurance coverage on the Property is
deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. Borrower
shall give Lender prompt notice of any lapse in required hazard insurance coverage and of any loss occurring from
a hazard, In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a
loss to the Property, whether to the condominium unit or to the common elements, any proceeds payable to
Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by this Security
Instrument, with any excess paid to the entity legally entitled thereto,
B, Borrower promises to pay all dues and assessments imposed pursuant to the legal instruments creating and
governing the Condominium Project.
C. If Borrower does not pay condominium dues and assessments when due, then Lender may pay them, Any
amounts disbursed by Lender under this paragraph C shall become additional debt of Borrower secured by the
Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from
Lender to Borrower requesting payment.
BY SIGNING BELOW. Borrower accepts and
Condominium Rider,
provisions contained in this
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
[Sign Original Only]
GeC - 27622-2 (05/98)
Page 2 of 2
EXHIBIT hA"
00û399
Unit 502 of Building 500, STATELlNE CONDOMINIUMS, as shown on the official plat thereof tiled on September 12,2006, as
Document No, 922381, as Plat No, 362-A, in the Office of the Clerk of Lincoln County, Wyoming, also being a part of Lot 5,
ST A TELlNE ESTATES, as shown on the official plat thereoffïled on November 17,2005, as Document No. 913797, as Plat No. 293-
E, in the Office of the Clerk of Lincoln County, Wyoming, and further defined and described in that cel1ain Declaration of Covenants,
Covenants, Conditions and Restrictions for Stateline Condominiums located in Freedom, Lincoln County, Wyoming, created by
Document No. 922380, in Book 633, at Page 5 13 or set forth in the reiated bylaws in any instrument creating the estate or interest
insured by this policy; and in any other allied instrument referred to in any of the instruments aforesaid