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HomeMy WebLinkAbout943853 RetumTo: LOAN # 6651821677 FL9-700-01-01 JACKSONVILLE POST CLOSING BANK OF AMERICA 9000 SOUTHS IDE BLVD. BLDG 700, FILE RECEIPT DEPT. JACKSONVILLE, FL 32256 Prepared By: M I CHELLE WR I GHT BANK OF AMERICA 21000 NW EVERGREEN PKWY HILLSBORO, OR 971247121 000860 RECEIVED 11/26/2008 at 2:34 PM RECEIVING # 943853 BOOK: 709 PAGE: 860 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording Data] LOAN # 6651821677 MORTGAGE DEFJNITIONS Words used in multiple sections of tlris document arc defined below and otller words arc defined in Sections 3, 11, 13, 18, 20 and 21. Ccrtain rules regarding the usage of words used in this document are also provided in Section 16. (A) "SecuIity Instrument" means this document, wlrichis dated NOVEMBER 25, 2008 together witll all Riders to tlris document. (B) "Borrower" is DON R MCFARLAND AND JUDY MCFARLAND, AS JOINT TENANTS j Borrower is the mortgagor under this Security hlstrument. (C) "Lender" is BANK OF AMER I CA, N. A . ..J , f' (01 Lend&isa NATIONAL BANKING ASSOCIATION organized and existing under the laws of THE UN I TED STATES OF AMER I CA Lender's address is 21000 NW EVERGREEN PKWY, HILLSBORO, OR 971247121 Lender is the mortgagee under this Security h1Strument. Form 3051 1/01 VMP6(WYJ (0803),00 Page 1 of 16 WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services CVWY 11/24/08 12:05 PM 6651821677 (;OöB61 (D) "Note" means the promissory note signed by Borrower and dated NOVEMBER 25, 2008 . The Note states tImt Borrower owes Lender TWO HUNDRED SEVENTY FIVE THOUSAND AND 00/ 100 Dollars (U.S. $ 275,000.00 ) plus interest. Borrower has pronúsed to pay this debt in regular Periodic Payments and to pay the debt in full not later than DECEMBER 01, 2038 . (E) "Property" means the property that is described below under tile heading "Transfer of Rights in the Property. " (F) "Loan" means the debt evidenced by tile Note, plus interest, any prepayment charges and late charges due under tile Note, and all sums due under tIús Security Instrument, plus interest. (G) "Riders" means all Riders to tIùs Security Instrument tImt are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider D VA Rider D Condominium Rider ~ P1alllled Unit Development Rider D Biweekly Payment Rider ~ Second Home Rider D 1-4 Family Rider D Other(s) [specify] (D) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and admillistrative rules and orders (tImt have the effect of law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges tlmt are imposed on Borrower or the Property by a condomilùunl association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other tlléln a transaction originated by check, draft, or similar paper instrument, wlùch is illitiated tIrrough an electronic tenninal, te1ephOlùc instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such tenll includes, but is not linùted to, point-of-sale transfers, automated teller maclùne transactions, transfers itútiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means tllose items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any tlúrd party (otIler tImn insurance proceeds paid under tlle coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condellllmtion or otIlertaking of all or any part of the Property; (iii) conveyance in lieu of condeIllimtion; or (iv) misrepresentations of, or omissions as to, the value and/or condition of tile Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "PeJ1odic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts IUlder Section 3 of this Security Instrument. (0) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regnlation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs tile same subject matter. As used in tlús Security Instrument, "RESP A" refers to all requirements and restrictions tlmt are imposed in regard to a "federally related mortgage loan" even if tlle Loan does not qualify as a "federally related mortgage loan" tmder RESP A. WYOMING - Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services r Form30511/01 VMP6(WY) (0803).00 Initial' Page 2 of 16 CVWY 11/24/08 12:05 PM 6651821677 û00862 (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whetller or not that party has assumed Borrower's obligations under tlle Note and/or tIllS Security Instrument. TRANSFER OF RIGHTS IN 1HE PROPERTY This Security Instrument secures to Lender: (i) the repayment of tIle Loan, and all renewals, extensions and modifications of the Note; and (ü) the perfonnance of Borrower's covenants and agreements under this Security Instrument and the Note. For tillS purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the COUNTY [Type of Recording Jurisdiction] of LINCOLN [Natne of Recording Jurisdiction] : "LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF." Parcel ill Number: 1234190110810600 117 FAIRWAY AVENUE THAYNE ("Property Address"): wlùch currently has the address of [Street] [City], Wyoming 83127-9756 [Zip Code] TOGE1HER WITH all tIle improvements now or hereafter erected on tile property, and all easements, appurtenances, atld fixtures now or hereafter a part of tIle property. All replacements atld additions shall also be covered by this Security Instrument. All of the foregoing is referred to in tlùs Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of tlle estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is lUlencumbered, except for encumbrances of record. Borrower warrants and will defend generally tIle title to the Property against all claims and demands, subject to any encumbrances of record. TIllS SECURITY INS1RUMENT combines unifonn covenants for national use and llon-unifoffil covellatlts Witll linùted variations by jurisdiction to constitute a unifonll security instrument cover.ing real property. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services ~ Form 30511/01 VMP6(WY) (0803),00 Initials: ~ Pege 3 of 16 tif CVWY 11/24/08 12:05 PM 6651821677 ûOv863 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Plincipal; Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due uuder the Note and tbis Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment uuder the Note or tins Security Instrument is retumed to Lender uupaid, Lender may require that any or all subsequent payments due under the Note and tins Security Instrument be made in one or more of tile following fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or caslner's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at tile location designated in the Note or at such other location as may be designated by Lender in accordance WitIl the notice provisions in Section 15. Lender may retum 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 tile Loan current, without waiver of any rights hereilllder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds illltil Borrower malœs payment to bring the Loan current. If Borrower does not do so witInn a reasonable period of time, Lender shall either apply such funds or retunl them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under tile Note inunediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and tIns Secillity Instrument or peñonning the covenants and agreements secured by tbis Security Instrument. 2. Application of Payments or Proceeds. Except as otheIWise described in tins Section 2, all payments accepted and applied by Lender shall be applied in tile following order of priority: (a) interest due illlder tile Note; (b) principal due under the Note; (c) amoilllts due illlder Section 3. Such payments shall be applied to each Periodic Payment in the order in wInch it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under tIns Security mstrument, and then to reduce the principal 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, tile payment may be applied to the delinquent payment and the late charge. If more thaIl one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to tile repayment of the Periodic Payments if, aIld to the ex'tent tIlat, each payment can be paid in full. To the extent that mry excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied ftrst to aIlY prepayment charges and then as described in tile Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due uuder the Note shall not extend or postpone tile due date, or change the amount, of tile Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until tile Note is paid in full, a sum (the "Fuuds") to provide for payment of anlouuts due for: (a) taxes and assessments and other items wbich CaIl attain priority over tIns Security hlStrument as a WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wo~ers Kluwer Financial Services InitiaIS:~ t% Form 3051 1/01 VMP6(WY) (0803),00 Page 4 of 16 CVWY 11/24/08 12:05 PM 6651821677 OOö864 lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Conununity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly fumish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items uuless 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 O1Ùy be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, tlle anloUllts due for any Escrow Items for wlúch payment of Funds has been waived by Lender and, if Lender requires, shall funúsh to Lender receipts evidencing such payment witlún such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in tlús Security Instnunent, as tlle phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursu3nt to a waiver, and Borrower fails to pay tile amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance Witll Section 15 and, upon such revocation, Borrower shall pay to Lender all FUllds, and in such amounts, tl13t are then required under this Section 3. Lender may, at any time, collect and hold FUllCls in an amount (a) sufficient to permit Lender to apply the Funds at tlle time specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance Witil Applicable Law. TIle Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank Lender shall apply the FUllds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or ver:ifYing the Escrow Items, unless Lender pays Bon-ower interest on the Funds and Applicable Law permits Lender to make such a charge. Ulùess an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or eanúngs on tile Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds 3S required by RESP A. If there is a surplus of Funds held in escrow, as defined Ullder RESP A, Lender shall account to Borrower for the excess funds in accordance Witll RESP A. If tllere is a shortage of FUllds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender tile amoUllt necessary to make up the shortage in accordance Witll RESP A, but in no more than 12 montlùy 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 Sl13ll pay to Lender the amount necessary to maleo up the deficiency in accordance with RESP A, but in no more th3n 12 montlùy payments. Upon payment in full of all sums secured by tlús Security Instillment, Lender shall promptly refund to Bon-ower any Funds held by Lender. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services InitialS~ Form 3051 1/01 VMP6(WYJ (0803),00 Page 5 of 16 ~ CVWV 11/24/08 12:05 PM 6651821677 COv865 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien wlùch has priority over tins Security Instrument Ulùess Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a mIDUler acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests tile lien in good faith by, or defends against enforcement of the lien in. legal proceedings which in Lender's opiInon operate to prevent tile enforcement of the lien while those proceedings are pending, but Olùy Ulltil such proceedings ID'C concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating tile lien to tins Security Instrument. If Lender determines that any part of tile Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which tImt notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in tIùs Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or repOlting seIVice used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included witlnn the tenn "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for wInch Lender requires insurance. Tlùs insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can chIDlge during the tenn of tlle Loan. The insurance carrier providing tile insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection WitIl this Loan, either: (a) a one-time charge for flood zone detemrination, certification and tracking services; or (b) a one-time charge for flood zone detennination and certification services IDld subsequent charges each time remappings or similar changes occur wInch reasonably might affect such detemrination or certification. Borrower shall also be responsible for tile payment of IDlY fees imposed by t~e Federal Emergency Management Agency in cOlUlection with tile review of any flood zone detemùnation resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but nùght or ¡uight not protect Borrower, Borrower's equity in the Property, or the contents of tile Property, against IDlY risk, hazard or liability and llÙght provide greater or lesser coverage than was previously in effect. BOlTower acknowledges that the cost of the insurance coverage so obtained ¡uight significIDltIy exceed the cost of insurance tImt BOlTower could Imve obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by tins Security Instrument. These amounts slmll bear interest at tile Note rate from tile date of disbursement IDld shall be payable, with such interest, upon notice from Lender to BOlTower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, IDld shall name Lender as mortgagee IDld/or as ID1 additional loss payee. Lender shall have the right to hold the policies IDld renewal certificates. If Lender requires, Borrower shall promptIy give to Lender all receipts of paid prenùums and renewal notices. If BOlTower obtains any fonn of insurIDlce coverage, not otherwise required by Lender, WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwar Financial Services '"'".~ Form 3051 1/01 VMP6(WY) (0803),00 Page 6 of 16 CVWY 11/24/08 12:05 PM 6651821677 ûOöS66 for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance camer and Lender. Lender may make proof of loss if not made promptly by Borrower. Urness Lender and Borrower otllerwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if tlle restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure tlle work has been completed to LendelJs satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the worl( is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eanùngs on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the SunlS secured by tlùs Security hlStrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available Ì1lSurance 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 period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otheIWise, Borrower hereby assigns to Lender (a) BOlTower's rights to any insurance proceeds in an amount not to exceed the anlounts unpaid under tlle Note or tlùs Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned prellÙums paid by BOlTower) under all insurance policies covering tlle Property, insofar as such rights are applicable to tlle coverage of the Property. Lender may use tlle insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note ortlùs Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence wìtlùn 60 days after tlle execution of tlùs Security Instrument and shall continue to occupy tlle Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, wlùch consent shall not be unreasonably WitlÙleld, or mùess extenuating circumstances exist wlùch are beyond Borrower's control. 7. Prcservation, Maintcnance and Protcction of the PropcI1y; InsI)Cctions. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or connnit waste on the Property. Whether or not Borrower is residing in tlle Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing Ì11 value due to its condition. Ulùess it is detenmned pursuant to Section 5 that repair or restoration is not econonùcally feasible, BOlTower shall promptly repair the Property if damaged to avoid fmther deterioration or damage. If insurance or condelllilation proceeds are paid in cOlUlection Witll damage to, or the talung of, tlle Property, BOlTower shall be responsible for repairing or restoring the Property O1Ùy if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as tlle work is completed. If the Ì1lSurallce or condelllimtion proceeds are not sufficient WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwar Financial Services Initial~ ~ Form 3051 1/01 VMP6(WYJ (0803),00 Page 7 of 16 CVWY 11/24/08 12:05 PM 6651821677 C0086~ to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall 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 information or statements to Lender (or failed to provide Lender with material infonnation) in COIDlection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instmment. If (a) Borrower fails to perfonn the covenants and agreements contained in tlús Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under tins Security Instrument (such as a proceeding in bankruptcy, probate, for condenmation or forfeiture, for enforcement of a lien wInch may attain priority over tins Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned tile Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security h1Strument, including protecting and/or assessing tile value of tlle Property, and securing and/or repairing the Property. Lender's actions can include, but are not linnted to: (a) paying any SUlllS secured by a lien wInch has priority over tlús Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security h1Strument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to malœ repairs, change locks, replace or board up doors and windows, drain water from pipes, elinnnate building or otller code violations or dangerous conditiOl1S, and have utilities turned on or off. AltIlOugh Lender may take action under tins Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actiOl1S authorized under tins Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by tlús Security h1Strument. These amounts shall bear interest at the Note rate from tile date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If tlús Security h1Strument is on a leasehold, Borrower shall comply WitIl all the provisions ofthe lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiunls required to maintain tlle Mortgage h1Surance in effect. If, for any reason, the Mortgage Insurance coverage requircd by Lender ceases to be available from tile mortgage insurer tImt previously provided such Í11Surance and Borrower was required to malœ separately designated payments toward the premiums for MOltgage h1Surance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalcnt to the cost to Borrower of tile Mortgage Insurance previously in effect, from an alternate WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wollers Kluwer Financial Services ~ Form30511/01 , MP6(WY) (0803).00 Initials: " Page 8 of 16 fct CVWY 11/24/08 12:05 PM 6651821677 ûOo8GB mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, alID Lender requires separately designated payments toward the premiums for Mortgage I1lSurallce. If Lender required Mortgage I1lSU1èlllCe as a condition of making the Loan and Borrower was required to malœ separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the preluiums required to maintain Mortgage InsurallCe in effect, or to provide a non-refundable loss reserve, 111ltil Lender's requirement for Mortgage I1lSurallce ends in accordance with all}' written agreement between Borrower alld Lender providing for such temunation or 111ltil temúnation is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or allY entity that purchases the Note) for certain losses it may incur if Borrower does not repay the LOall as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurallce in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on tenus and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to malœ payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, all}' reÏ1lSurer, any other entity, or any affiliate of all}' of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be c1laracterized as) a portion of Borrower's payments for Mortgage I1lSurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that all affiliate of Lender takes a share of the Í1lSurer's risk in exchange for a share of the prellÚums paid to the insurer, the arrangement is often temled "captive reinsumnce." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for MOIigage Insurance, or any other tenus of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the lights Borrower has - if any - with respect to the MOIigage Insurance under' the Homeowners Protection Act of 1998 or any other law. These lights may include the right to receive celiain disclosures, to request and obtain cancellation of the MOIigage Insurance, to have the Mortgage Insurance telminated automatically, and/or to receive a refund of any MOIigagc Insurance premiums that were unearned at the time of such cancellation or tenuination. 11. Assignment of Miscellaneous Pmceeds; FOIfeiture. All Miscellaneous Proceeds are hereby assigned to alld shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is econollÚcally feasible alld Lender's security is not lessened. During such repair alld restoration period, Lender shall llave the right to hold such Miscellaneous Proceeds until Lender has had all opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such il1Spection shall be undertalœn promptly. Lender may pay for the WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services ~ Form30511/01 VMP6(WYJ (0803),00 Initials: Page 9 of 16 ~ CVWY 11/24/08 12:05 PM 6651821677 00&869 repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by tlùs Security Instrument, whether or not tllen due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by tms Security Instrument, whether or not theil due, with the excess, if any, paid to Borrower. In the event of a paItial taking, destruction, or loss in value of tlle Property in wlùch the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by tlùs Security hlStrument inIDlediate1y before the partial talcing, destruction, or loss in value, unless Borrower aIld Lender othelWise agree in writing, the sums secured by tIùs Security hlStrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by tlle following fraction: (a) the total amount of tlle 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 talcing, destruction, or loss in value of the Propelty in wmch the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than tlle aIllOunt of the sums secured immediately before tile partial taking, destruction, or loss in value, unless Borrower and Lender othelWise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by tlùs Security Instrument whether or not the sums are tllen due. If the Property is abaIldoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in tlle next sentence) offers to make an aWaId to settle a claim for daInages, BOlTower fails to respond to Lender witlùn 30 days after tlle date the notice is given, Lender is authorized to collect aIld apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by tlùs Security hlStrument, whether or not then due. "Opposing Party" meaIlS tile tlùrd party tIlat owes BOlTower MiscellaIleOUS Proceeds or the party against whom BOlTower has a right of action in regard to Miscellaneous Proceeds. BOlTower shall be in default if aIlY action or proceeding, whether civil or cri11Ùnal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impainnent of Lender's interest in tlle Property or rights under tlns Security Instrument. BOlTower CaIl cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed Witll a ruling tllat, in Lender's judgment, precludes forfeitme of the Property or other matelial impainnent of Lender's interest in tile Property or rights under tlns Security Instrument. The proceeds of allY award or claim for damages that aIC attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of tl1e Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of tl1e time for payment or modification of amortization of tlle sums secured by tins Security Instrument grallted by Lender to BOlTower or any Successor in Interest of BOlTOwer shall not operate to release the liability of BOlTower or any Successors in hlterest of BOlTower. Lender shall not be required to commence proceedings agaulSt WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwar Financial Services Initia~ Form 3051 1/01 VMP6(WY) (0803).00 Page 10 of 16 ~ CVWY 11/24/08 12:05 PM 6651821677 00û870 any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise mod:i:fY amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from tIùrd persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; 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 tIùs Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing tIùs Security Instrument O1Ùy to mortgage, grant and convey the co-signer's interest in tile 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 malœ any accommodations WitIl regard to the ten:ns of this Security Instrument or tile Note WitIlOut tile co-signer's consent. Subject to the provisions of Section 18, any Successor in Inteœst of Borrower who assumes Borrower's obligations under this Security hlStrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits llilder tIùs Security hlstmment. Borrower shall not be released from Borrower's obligations and liability under tins Seculity hlstrument Ulùess Lender agrees to such release in writing. The covenants and agreements of tins Security hlStrumellt shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services perfonned in cOllllection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under tins Security Instrument, including, but not limited to, attorneys' fees, property itlSpection and valuation fees. hI regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on tile charging of such fee. Lender may not charge fees that are expressly prolnbited by tins Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally intetpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pennitted limits, tIlen: (a) any such loan clmge shall be reduced by the amount necessary to reduce tile charge to the pennitted linùt; and (b) any sums already collected from Borrower wlùch exceeded pernntted litnits will be refunded to Borrower. Lender may choose to make tIns refUlld by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any light of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in comlection with tins Security Instrument must be in writing. Any notice to Borrower in connection WitIl this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by otIler means. Notice to anyone Borrower shall constitute notice to all Borrowers U1Ùess Applicable Law expressly requires otherwise. The notice address shall be the Property Address U1ùess Borrower has designated a substitl1te notice address by notice to Lender. Borrower shall promptIy notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's WYOMING - Single Femily - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP® Wolters Kluwer Financial Services Initia~ ~ Form 3051 1/01 VMP6(WYJ (0803),00 Page 11 of 16 CVWY 11/24/08 12:05 PM 6651821677 ûOô87~ change of address, then Borrower shall oilly report a change of address through that specified procedure. There may be oilly one designated notice address under tins Security Instrument at anyone time. Any notice to Lender shall be given by delivering ít or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in cOIl11ection with this Security Instrument shall not be deemed to have been given to Lender Ulltil actually received by Lender. If any notice required by tins Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy tile corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. TIns Security Instrument shall be govemed by federal law and tile law of the jurisdiction in which tile Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitIy allow tile parties to agree by contract or it nnght be silent, but such silence shall not be construed as a prolnbition against agreement by contract. In tile event that any provision or clause of this Security Instrument or tile Note conflicts WitIl Applicable Law, such conflict shall not affect other provisions of this Security hlstrument or the Note wInch can be given effect without the conflicting provision. As used in tIús Security Instrument: (a) words of tile masculine gender shall mean and include corresponding neuter words or words of 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 obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of tins Security Instrument. 18. Transfer of the PropeJ1y or a Beneficial Interest in Borrower. As used in tIns Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of wlúch is the transfer of titie by Borrower at a future date to a purchaser. If all or any part of tile Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) Witilout Lender's prior wlitten consent, Lender may require immediate payment in full of all sums secured by tlús Seculity Instrument. However, this option shall not be exercised by Lender if such exercise is prolnbited by Applicable Law. If Lender exercises tIús option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date tIle notice is given in accordance with Section 15 within wlúch Borrower must pay all sums secured by tIns Security Instrument. If Borrower fails to pay these sums prior to tIle expiration of tins period, Lender may invoke any remedies pemlitted by tins Security hlStmment WitilOut fmlller notice or demand on Borrower. 19. Borrower's Right to Reinstate Mter Acceleration. If Borrower meets certain conditions, Borrower shall have the light to have enforcement of this Security hlStnnnent discontinued at any time prior to tile earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other peliod as Applicable Law might specify for the temúnation of Borrower's right to reulState; or (c) entIy of a judgment enforculg tins Security hlStrument. Those conditions are that Borrower: (a) pays Lender all SUlllS winch then would be due under tlús Seculity Instrument and the Note as if no acceleration had occurred; (b) cures any default of any otiler covenants or WYOMING· Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wo~ers Kluwer Financial Services Initi~ etr Form 30511/01 VMP6(WY) (0803),00 Page 12 of 18 CVWY 11/24/08 12:05 PM 6651821677 000872 agreements; (c) pays all expenses incurred in elúorcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instnunent; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank: check, treasurer's check or cashier's check, provided any such check is dmwn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electroillc Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acce1emtion under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of GJievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale luight result in a change in the entity (known as the "Loan SeIVicer") that collects Periodic Payments due under the Note and this Security Instrument and penonns other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan SeIVicer unrelated to a sale of the Note. If tIlere is a change of tile Loan Servicer, Borrower will be given written notice of the change which will state tile name and address of the new Loan Servicer, the address to which payments should be made and any other Ì1úonnation RESP A requires in cOlmection WitIl a notice of tmnsfer of seIVicing. If the Note is sold and thereafter tile Loan is serviced by a Loan SeIVicer other than the purchaser of tile Note, tile mortgage loan servicing obligations to Borrower will remain WitIl the Loan Servicer or be transferred to a successor Loan SeIVicer and are not assumed by the Note purchaser mùess otherwise provided by tile Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as eitIler an individual litigant or tile member of a class) that arises from the other party's actions pursuant to tins Security Instrument or that alleges tIlat the other party has breached any provision of, or any duty owed by reason of, tIns Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after tile 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 will be deemed to be reasonable for purposes of tills paragraph. The notice of acce1emtion and opportuillty to cure given to Borrower pursuant to Section 22 and the notice of accelemtion given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportmnty to take corrective action provisions of tlns Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flanunab1e or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials contaÌ1nng asbestos or fonnaldehyde, and mdioactive materials; (b) "Environmental Law" means federal laws and laws oftlle jurisdiction where the Property is located that relate to health, safety or enviromnental protection; (c) "Enviromnental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Enviromnental Condition" means a condition that can cause, contribute to, or otIlerwise trigger an Enviromuental Cleanup. '"'œ~ t7Y Form 3051 1/01 VMP6(WYJ (0803),00 Page 13 of 16 WYOMING - Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services CVWY 11/24/08 12:05 PM 6651821677 ÛOD8~ì' 3 Borrower shall not cause or pemnt the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Enviromnental Law, (b) which creates an Enviromnental Condition, or (c) wIùch, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recogIÙZed to be appropriate to nonnal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) 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 wInch Borrower has actual knowledge, (b) any Enviromnental Condition, including but not Hnnted to, any spilling, lealdng, discharge, release or tlmmt of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance wInch adversely affects the value of the Property. If Borrower learns, or is notified by all}' governmental or regulatory autllOrity, or all}' plivate party, that all}' removal or other remediation of any Hazal'dous SubstallCe affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordallCe with Enviromuental Law. Nothing herein shall create allY obligation ou Lender for an EnvirolUuental C1eallUp. NON-UNIFORM COVENANTS. Borrower alId Lender further COVenalIt alId agree as follows: 22. Acceleration; Remedies. Lender sball give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instmment (but not lnior to acceleration under Section 18 unless Applicable Law provides otherwise). Tbe notice sball sl>ecify: (a) the default; (b) the action required to cure the default; (c) a date, not less tban 30 days from tbe date tbe notice is given to Borrower, by which the default must be cured; and (d) that failure to cure tbe default on or before the date specified in the notice may result in acceleration of the sums secured by this SecUlity Instrument and sale of the Property. The notice shall fUliher inform Borrower of tbe ligbt to reinstate after acceleration and the rigbt to bring a cOUli action to asseli the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its ol>tion may require immediate l>ayment in full of all sums secured by this SecUlity Instmment without fUliber demand and may invoIce the power of sale and any other remedies permitted by AlJl>licable Law. Lender shall be entitled to collect all expenses incurred in lmrsuing the remedies l>rovided in this Section 22, 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 BOITower and to the person in possession of the Propeliy, if different, in accordance with AIJplicable Law. Lender shall give notice of the sale to Borrower in the manner provided ill Section 15. Lender shall 1mblish the notice of sale, and the Propeliy shall be sold ill the manner prescribed by Applicable Law. Lender or its designee may purchase tbe PropeJiy at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of tbe sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Seculity Instmment; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by tlns Security hlStrument, Lender sllall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT vMP® WoRers Kluwer Financial Services Inltial~ ~ Form 3051 1/01 VMP6{WY) (0603),00 Page 14 of 16 CVWY 11/24/08 12:05 PM 6651821677 ûOv874 releasing this Security Instrument, but omy if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the tenus and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: (Seal) -Borrower (ft< (Seal) DON R MCFARLAND -Borrower ~¡n~) JUD FARLAND -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower WYOMING· Single Family - Fannie Mee/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services InitialS~ Form 3051 1/01 VMP6(WYJ (0803),00 Page 15 of 16 f)L CVWY 11/24/08 12:05 PM 6651821677 STATE OF WYOMING, by This instrument was acknowledged before me on My Conunission Expires: <,' Notary Public Title (and Rank) S-e,c A#~J Initia~ Øt WYOMING - Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP ® Wolters Kluwer Financial Services CVWY 11/24/08 12:05 PM 6651821677 0\"vo/5 County ss: Form 3051 1/01 VMP6(WY) (0803),00 Page 16 of 16 00&876 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT . personally appeared on \<. /_ I' rr V.or ( C rlCÆVcl State of California County of~Y1 þerMrdr;Jð On Nõ\J'c..V\-\þc..( fJ5( a-éD<Z. before me, Date J.fit - - - - -, ~~~:,:":~~~~~: 1, i~ Notary PuÞØc - CallfornIa·_, Ian lernordlno county- . L ' .,CaiIJrìL.......ZUOl1 I -~-------~-------~ who proved to .f\: on the basis of sa~is ctory evidence to be the person&hose name@~¡' re ubscribed to the W, ithin instrument and acknowle ged ~ me that !ðéÍ~~executed the same in ~Iaéf/~ authorized capacìty@ and that by lðiS/her~ signatur@ on the instrument the persort@) or the entity upon behalf of which the person ®)acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Place Notary Seal Above Signature OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Signer's Name: o Individual o Corpor Officer - Title(s): o P er - 0 Limited 0 General o ttorney in Fact o Trustee o Guardian or Conservator o Other: RIGHTTHUMBPRINr OF SIGNER Top of thumb here Signer's Name: o Individual o Corporate Officer - Title(s): o Partner - 0 Limited 0 General o Attorney in Fact o Trustee o Guardian or Conservator o Other: RIGHTTHUMBPRINT OF SIGNER Top of thumb here Signer Is Representing: Signer Is Representing: .~ ©2007 Netional Notery Association' 9350 De Soto Ave" P.O. Box 2402' Chalsworth, CA 91313·2402' www,NationalNotary,org Ilem #5907 Reorder: Call Toll-Free 1-800-876-6827 COOS77 Description Lot 16 of Stewart Country Club Estates Phase 1, Lincoln County, Wyoming as described on the official plat thereof COôS78 SECOND HOME RIDER THIS SECOND HOME RIDER is made this 25TH day of NOVEMBER, 2008 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower," whether there are one or more persons undersigned) to secure Borrower's Note to BANK OF AMER I CA, N. A . (the "Lender") of the same date and covering the Property described in the Security Instrument (the "Property"), which is located at: 117 FA I RWA Y A VENUE, THAYNE, WY 83127-9756 (Property Address) In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrument are deleted and are replaced by the following: 6. Occupancy. Borrower shall occupy, and shall only use, the Property as Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment at all times, and shall not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or any other person any control over the occupancy or use of the Property. 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 information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's second home. MULTI STATE SECOND HOME RIDER - Single Family Page 1 of 2 VMP Mortgage Solutions, Inc. (800)521-7291 M65S 11/24/08 12:05 PM 6651821677 BS365R (0411) ú.OùS79 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Second Home Rider. c ' ln~~ JUDY MC AND BS365R (0411) Page 2 of 2 (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower M65S 11/24/08 12:05 PM 6651821677 00&880 LOAN # 6651821677 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 25TH day of NOVEMBER, 2008 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date, given by the undersigned (the "Borrower") to secure Borrower's Note to BANK OF AMERICA, N.A. (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 117 FAIRWAY AVENUE, THAYNE, WY 83127-9756 (Property Address) The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in *** COVENANTS, CONDITIONS, AND RESTRICTIONS *** (the "Declaration"). The Property is a part of a planned unit development known as STEWART COUNTRY CLUB ESTATES (Name of Planned Unit Development) (the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent Documents. The "Constituent Documents" are the: (í) Declaration; Oi) articles of incorporation, trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the OwnersAssociation. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. MUL TIST A TE PUD RIDER - Single Family BS7R (0411) Page 1 of 3M07P 11/24/08 12:05 PM 6651821677 VMP Mortgage Solutions, Inc. (800)521-7291 OOô881 B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 1 1. E. lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; {iil any amendment to any provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. BS7R (0411) Page 2 of 3 M07P 11/24/08 12:05 PM 6651821677 000882 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider. J MCFARL D ~ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower BS7R (0411) Page 3 of 3 M07P 11/24/08 12:05 PM 6651821677