HomeMy WebLinkAbout944907
Return To: LOAN # 6805687222
,Recording Requested by &
When Recorded Return To:
US Recordings, Inc.
2925 Country Drive
St. Paul, MN 55117
Prepared By: KAREN SH I PMAN
BANK OF AMERICA
21000 NW EVERGREEN PKWY
HILLSBORO, OR 971247121
RECEIVED 1/27/2009 at 3:05 PM
RECEIVING # 944907
BOOK: 713 PAGE: 692
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
00&692
-¡S~Î Lf I 3 ()
LOAN # 6805687222
[Space Above This Line For Recording Data]
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections
3, 11, 13, 18,20 and 21. Certain rules regarding the usage of words used in tills document are also provided
in Section 16.
(A) "Security Instrument" means this document, willch is dated JANUARY 06, 2009
together with all Riders to this document.
(B) "Borrower" is
DON R MCFARLAND AND JUDY MCFARLAND AS JOINT TENANTS
i:..,
" Borrower is the mortgagor under this Security Instrument.
(C) "Lender" is BANK OF AMER I CA, N. A .
Lender is a NA T I ONAL BANK I NG ASSOC I AT I ON
organized and existing under the laws of THE UN I TED STATES OF AMER I CA
Lender's address is 21000 NW EVERGREEN PKWY I HI LLSBORO I OR 971247121
Lender is the mortgagee under this Security Instrument.
~ Form30511101
. VMP6(WY) (0803).00
Initials: f ..- Page 1 of 16
WYOMING· Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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(D) "Note" means the promissory note signed by Borrower and dated JANUARY 06, 2009
The Note states that Borrower owes Lender TWO HUNDRED SEVENTY FIVE THOUSAND AND
00/ 1 00 Dollars
(U.S. $ 275,000.00 ) plus interest. Borrower has promised to pay this debt in
regular Periodic Payments and to pay the debt in full not later than FEBRUARY 01, 2039
(E) "Property" means the property that is described below 1ll1der the heading "Transfer of Rights in the
Property. "
(F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due 1ll1der the Note, and all sums due 1ll1der this Security Instrument, plus interest.
(G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicable]:
o Adjustable Rate Rider
D Balloon Rider
o VA Rider
o Condominium Rider
o Planned DlÙt Development Rider
D Biweekly Payment Rider
ŒJ Second Home Rider
D 1-4 Family Rider
D Other(s) [specify]
(H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
ordinances and administrative rules and orders (that 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 that are imposed on Borrower or the Property by a condominium association, homeowners
association or similar organization.
(J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check,
draft, or similar paper instrument, which is ilÙtiated through an electronic terminal, telephonic instrument,
computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
aCC01ll1t. Such tenn includes, but is not limited to, point-of-sale transfers, automated teller machine
transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
(K) "Escrow Items" means those items that are described in Section 3.
(L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by
any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property;
(iü) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or
condition of the Property.
(M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
the Loan.
(N) "Periodic Payment" means the regularly scheduled am01ll1t due for (i) principal and interest 1ll1der the
Note, plus (ii) any am01ll1ts 1ll1der Section 3 of this Security Instrument.
(0) "RESPA" means the Real Estate Settlement Procedures Act (12 D.S.C. Section 2601 et seq.) and its
implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time,
or any additional or successor legislation or regulation that governs the same subject matter. As used in this
Security Instrument, "RESP A" refers to all requirements and restrictions that are imposed in regard to a
"federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan"
1ll1der RESP A.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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Wo~ers Kluwar Financial Services
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VMP6(WY (0803).00
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(P) "Successor in Interest of Borrower" means any party that has taken title to the Property,
whether or not that party has assumed Borrower's obligations under the Note and/or this Security
Instrument.
1RANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals,
extensions and modifications of the Note; and (ii) the perfonnance of Borrower's covenants and
agreements under this Security Instrument and the Note. For this 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 [Name of Recording
Jurisdiction]:
"LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF."
Parcel ID Number: 1234190110810600
117 FAIRWAY AVENUE
THAYNE
("Property Address"):
wlúch currently has the address of
[Street]
[City], Wyoming 83127 [Zip Code]
TOGETHER WIlli 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 seised of the estate hereby conveyed and has the
right to mortgage, grant and convey the Property and that the Property is Wlencumbered, 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.
lliIS SECURITY INS1RUMENT combines unifonn covenants for national use and non-unifonn
covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering real
property .
Form 3051 1/01
VMP6(WY) (0803).00
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WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, 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 under the Note and this Security Instrument shall be made in U.S.
currency. However, if any check or other instrument received by Lender as payment under the Note or this
Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due
under the Note and this Security Instrument be made in one or more of the following forms, as selected by
Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or. cashier's check,
provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
instrumentality, or entity; or (d) ElectroIÙc Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at
such other location as may be designated by Lender in accordance with the notice provisions in Section 15.
Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring
the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current,
without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in
the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each
Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied
funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return
them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under
the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the
future against Lender shall relieve Borrower from making payments due under the Note and this Security
Instrument or perfonning the covenants and agreements secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as othelWise described in this Section 2, all payments
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the
Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to
each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to
late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal
balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment wlùch includes a
sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the
late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from
Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in
full. To the extent that any excess exists after the payment is' applied to the full payment of one or more
Periodic Payménts, such excess may be applied to any late charges due. Voluntary prepayments shall be
applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due wider the
Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under
the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a)
taxes and assessments and other items which can attain priority over this Security Instrument as a
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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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 tenn of the Loan, Lender may require that Community 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 furnish to Lender all notices of amounts to be paid under this
Section. Borrower shall pay Lender the Funds for Escrow Items UIÙess Lender waives Borrower's obligation
to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such
waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for
which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
evidencing such payment within such time period as Lender may require. Borrower's obligation to make such
payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained
in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is
obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an
Escrow Item, Lender may exercise its rights under Section 9 and pay such 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 with Section 15 and, upon such revocation,
Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to penIÙt Lender to apply
the Funds at the 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 with Applicable
Law.
The Funds shall be held in an institution whose deposits are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
specified under RESP A. Lender shall not charge Borrower for holding and applying the Funds, annually
analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
Funds and Applicable Law pennits Lender to make such a charge. Unless an agreement is made in writing or
Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any
interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as
required by RESP A.
If there is a surplus of Funds held in escrow, as defmed under RESPA, Lender shall account to
Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as
defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to
Lender the amount necessary to make up the shortage in accordance with RESP A, but in no more than 12gmonthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up
the deficiency in accordance with RESP A, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
Borrower any Funds held by Lender.
WYOMING· Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP ®
Wolters Kluwer Financial Services
,-~
Form 3051 1/01
VMP6(WY) (0603).00
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4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fmes, and impositions
attributable to the Property which can attain priority over this Security Instrwnent, 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 which has priority over this Security Instrwnent unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or
defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the
enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded;
or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this
Security Instrwnent. If Lender determines that any part of the Property is subject to a lien which can attain
priority over this Security Instrwnent, Lender may give Borrower a notice identifying the lien. Within 10 days
of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set
forth above in this Section 4.
Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting
service used by Lender in connection with this Loan.
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
Property insured against loss by fire, hazards included within the term "extended coverage," and any other
hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This
insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender
requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan.
The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to
disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower
to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification
and tracking services; or (b) a one-time charge for flood zone determination and certification services and
subsequent charges each time remappings or similar changes occur which reasonably might affect such
determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the
Federal Emergency Management Agency in connection with the review of any flood zone determination
resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular
type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect
Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or
liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges
that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that
Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become
additional debt of Borrower secured by this Security Instrwnent. These amounts shall bear interest at the Note
rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to
Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's
right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender
as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and
renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums
and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender,
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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Wolters Kluwer Financial Services
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VMP6(WY) (0803).00
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for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall
name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not made promptly by Borrower. UIÙess Lender and Borrower otherwise agree in
writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work
has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
payments as the work is completed. UIÙess an agreement is made in writing or Applicable Law requires
interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or
earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be
paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is
not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to
the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim
and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or
otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount
not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's
rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance
policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender
may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the
Note or this Security Instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property.
Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to
prevent the Property from deteriorating or decreasing in value due to its condition. UIÙess it is
detennined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property oIÙY if Lender has released proceeds for
such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
of progress payments as the woIk is completed. If the' insurance or condemnation proceeds are not sufficient
WYOMING - Single Family - Fannie Mae/Freddie Mac UNiFORM INSTRUMENT
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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 connection with the Loan. Material representations include, but
are not limited to, representations concenúng Borrower's occupancy of the Property as Borrower's principal
residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is
a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this
Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for
enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
Property. Lender's actions can include, but are not limited to: (a) paying any SlllllS secured by a lien which has
priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to
protect its interest in the Property and/or rights under this Security Instrument, including its secured position
in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to
make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate
building or other code violations or dangerous conditions, and have utilities turned on or off. Although
. Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or
obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized
under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
payment.
If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease.
If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender
agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
Borrower shall pay the premillllls required to maintain the Mortgage Insurance in effect. If, for any reason,
the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer
that previously provided such insurance and Borrower was required to make separately designated
payments toward the premiums for Mortgage Insurance, Borrower shall pay the premillllls required to
obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially
equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate
WYOMING - Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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Wo~ers Kluwer Financial Services
,..,t
Form 3051 1/01
VMP6(WYJ (0803).00
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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 reselVe in lieu of Mortgage Insurance. Such loss reseIVe 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 reseIVe. Lender can no longer require loss reseIVe 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, and Lender requires separately designated payments
toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of
making the Loan and Borrower was required to make separately designated payments toward the premiums
for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect,
or to provide a non-refundable loss reseIVe, until Lender's requirement for Mortgage Insurance ends in
accordance with any written agreement between Borrower and Lender providing for such termination or until
termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay
interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may
incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may
enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are
on tenns and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these
agreements. These agreements may require the mortgage insurer to make payments using any source of funds
that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance
premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange
for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an
affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the
insurer, the arrangement is often tenned "captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may
include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage
Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any
Mortgage Insurance premiums that were unearned at the time of such cancellation or termination.
11. Assignment of Miscellaneous Proceeds; Forleiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During
such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
until Lender has had an opportunity to inspect such Property to ensure the work has been completed
to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP@
Wotters Kluwer Financial Services
'"~
Form 3051 1/01
VMP6(WY) (0803).00
Page g of 16
CVWY 01/02/09 3:12 PM 6805687222
ÜOv70:!.
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 this Security Instrument,
whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater
than the amount of the sums secured by this Security Instrument immediately before the partial taking,
destruction, or loss in value, unless Borrower and Lender othelWise agree in writing, the sums secured by this
Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the
following fraction: (a) the total amount of the sums secured immediately before the partial taking,
destruction, or loss in value divided by (b) the fair market value of the Property immediately before the
partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is less than the
amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
Borrower and Lender othelWise agree in writing, the Miscellaneous Proceeds shall be àpplied to the sums
secured by this Security Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing
Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails
to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and
apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this
Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous
Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or crinùnal, is begun that, in
Lender's judgment, could result in forfeiture of the Property or other material impainnent of Lender's interest
in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration
has occurred, reinstate as provided in Section 19, by. causing the action or proceeding to be dismissed with a
ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impainnent of
Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim
for damages that are attributable to the impainnent of Lender's interest in the Property are hereby assigned
and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
in the order provided for in Section 2.
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
payment or modification of amortization of the sums secured by this Security Instrument granted by Lender
to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or
any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against
,~
Form 3051 1/01
VMP6(WY) (0803).00
Page 10 of 16
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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OOô702
any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify
amortization of the sums secured by tlùs 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 tlùrd 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 tlùs Security Instnunent but does not execute the Note (a "co-signer"): (a) is co-signing tlùs Security
Instrument oruy to mortgage, grant and convey the co-signer's interest in the Property under the tenns of tlùs
Security Instnunent; (b) is not personally obligated to pay the sums secured by tlùs Security Instrument; and
(c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any
accommodations with regard to the tenns of this Security Instnunent or the Note without the co-signer's
consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's
obligations under tlùs Security Instrument in writing, and is approved by Lender, shall obtain all of
Borrower's rights and benefits under this Security Instnunent. Borrower shall not be released from Borrower's
obligations and liability under this Security Instrument UIÙess Lender agrees to such release in writing. The
covenants and agreements of tlùs Security Instnunent 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 cormection with
Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under tlùs
Security Instnunent, including, but not limited to, attorneys' fees, property inspection and valuation fees. In
regard to any other fees, the absence of express authority in this Security Instnunent to charge a specific fee
to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees
that are expressly prohibited by tlùs Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
that the interest or other loan charges collected or to be collected in cormection with the Loan exceed the
pemùtted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge
to the pemùtted limit; and (b) any sums already collected from Borrower which exceeded pemùtted limits
will be refunded to Borrower. Lender may choose to make this refund 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 right of action Borrower might have arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in connection with tlùs Security Instrument must
be in writing. Any notice to Borrower in connection with this Security Instnunent 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 other means. Notice to any one Borrower shall constitute notice to all Borrowers unless
Applicable Law expressly requires otherwise. The notice address shall be the Property Address UIÙess
Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly
notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP ®
Watters Kluwer Financial Services
$L Form 30511/01
VMP6(WY) (0803).00
InitialS:... . . Page 11 of 16
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ûO&703
change of address, then Borrower shall olÙY report a change of address through that specified procedure.
There may be olÙY one designated notice address under this Security Instrument at any one time. Any notice
to Lender shall be given by delivering it or by mailing it by fIrst class mail to Lender's address stated herein
ulÙess Lender has designated another address by notice to Borrower. Any notice in connection with this
Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If
any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law
requirement will satisfy the corresponding requirement under this Security Instrument.
16. GQveming Law; Severability; Rules of Construction. This Security Instrument shall be governed
by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations
contained in this Security Instrument are subject to any requirements and limitations of Applicable Law.
Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but
such silence shall not be construed as a prohibition against agreement by contract. In the event that any
provision or clause of this Security Instrument or the Note conflicts with 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.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include
corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and
include 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 this Security Instrument.
18. Transfer of the Property or a BenefIcial Interest in Borrower. As used in this Section 18,
"Interest in the Property" means any legal or benefIcial interest in the Property, including, but not limited to,
those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or
escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is
not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written
consent, Lender may require immediate payment in full of all swns secured by this Security Instrument.
However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall
provide a period of not less than 30 days from the date the notice is given in accordance with Section 15
within which Borrower must pay all swns secured by this Security Instrument. If Borrower fails to pay these
sums prior to the expiration of this period, Lender may invoke any remedies pennitted by this Security
Instrument without further notice or demand on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,
Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time
prior to the earliest of: (a) fIve days before sale of the Property pursuant to any power of sale
contained in this Security Instrument; (b) such other period as Applicable Law might specify for the
tennination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument.
Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security
Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP ®
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~ Form30511/01
VMP6(WYJ (0803).00
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agreements; (c) pays all expenses incurred in enforcing 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 Instrument; 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 drawn upon an institution whose
deposits are insured by a .federal agency, instrumentality or ent:!ty; or (d) Electronic Funds Transfer. Upon
reinstatement by Borrower, this Security Instrument and obligations secured· hereby shall remain fully
effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of
acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. 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 might 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 perfonns 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 Servicer unrelated to a sale of the Note. If there is a change of the Loan SeIVicer, Borrower will be
given written notice of the change which will state the name and address of the new Loan Servicer, the
address to which payments should be made and any other information RESP A requires in connection with a
notice of transfer of setVicing. If the Note is sold and thereafter the Loan is setViced by a Loan SetVicer other
than the purchaser of the Note, the mortgage loan servicing obligations to Borrower wm remain with the
Loan SetVicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser
unless otherwise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an
individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security
Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of,
this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in
compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a
reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time
period which must elapse before certain action can be taken, that time period will be deemed to be reasonable
for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant
to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to '
satisfy the notice and opportunity to take corrective action provisions of this Section 20.
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 Enviromnental Law and the
following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and
herbicides, volatile solvents, materials containing as\>estos or formaldehyde, and radioactive materials; (b)
"Enviromnental Law" means federal laws and laws of the 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 Enviromnental Law; and (d) an "Enviromnental
Condition" means a condition that can cause, contribute to, or otherwise trigger an Enviromnental Cleanup.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP ®
Wo~ers Kluwer Financial Services
c1t Form 30511/01
VMP6(WY) (0603).00
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Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous
Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do,
nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Enviromnental Law,
(b) which creates an Enviromnental Condition, or (c) which, due to the presence, use, or release of a
Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two
sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous
Substances that are generally recognized 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 Enviromnental Law of which Borrower has actual knowledge, (b) any
Enviromnental Condition, including but not linúted to, any spilling, leaking, discharge, release or threat of
release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a
Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by
any governmental or regulatory authority, or any private party, that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial
actions in accordance with Enviromnental Law. Nothing herein shall create any obligation on Lender for an
Enviromnental Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to
acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a)
the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date
the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the
default on or before the date specified in the notice may result in acceleration of the sums secured by
this Security Instrument and sale of the Property. The notice shall further inform Borrower of the
right to reinstate after acceleration and the right to bring a court action to assert 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 option may require immediate payment in full of
all sums secured by this Security Instrument without further demand and 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 Section 22, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
H 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 Section 15. 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.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this
Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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Form 3051 1/01
VMP6(WY) (0803).00
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ûOy706
releasing tlùs Security Instrument, but oruy if the fee is paid to a third party for services rendered and the
charging of the fee is pennitted under Applicable Law.
24. Waivers. Borrower releases and waives all rights Wlder and by virtue of the homestead exemption
laws of WyoIlÙng.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in tlùs
Security Instrument and in any Rider executed by Borrower and recorded with it.
Witnesses:
(Seal)
-Borrower
D~~
(Seal)
-Borrower
(sea1~ ?J1..t!J~ (Seal)
-Borrower I DY MCF AND -Borrower
(Seal)
(Seal)
-Borrower
-Borrower
(Seal)
(Seal)
-Borrower
-Borrower
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP@
Wo~ers Kluwer Financial Services
'";,.~
Form 3051 1/01
VMP6(WY) (0603).00
Page 15 of 16
CVWY 01/02/09 3:12 PM 6805687222
úOii707
STATE OFW¥ØMJNG,~\~('(\; A-- I S~ 6e.:Q'\w-d;\ (YO
County ss;
Tills instrument was acknowledged before me on
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by
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WYOMING· Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
VMP ®
Woiters Kluwer Financial Services
'";...~
~
Form 3051 1/01
VMP6(WY) (0803).00
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CVWY 01/02/09 3:12 PM 6805687222
ûOû70B
SECOND HOME RIDER
THIS SECOND HOME RIDER is made this 6TH day of JANUARY, 2009
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 AVENUE , THAYNE,
WY 83127
(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
I
Page 1 of 2
VMP Mortgage Solutions, Inc. (800)521-7291
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BS365R (0411)
OOû709
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants
contained in this Second Home Rider.
DON~
9d#1}¡(ð~
o MCFARLAN' (
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
BS365R (04 1 1)
Page 2 of 2
M65S 01/02/09 3:12 PM 6805687222
OOü71.0
LOAN # 6805687222
PLANNED UNIT DEVELOPMENT RIDER
THIS PLANNED UNIT DEVELOPMENT RIDER is made this 6TH day of
JANUARY, 2009 , 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
/
(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: (i) Declaration; (ii)
articles of incorporation, trust instrument or any equivalent document which creates the
Owners Association; and (iii) any by-laws or other rules or regulations of the
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)
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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; (ii) 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 01 /02/09 3: 12 . PM 6805687222
ÜOv7j.2
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants
contained in this PUD Rider.
D~LAND
Ì1f~1JJ CðN-4LA
(Seal)
-Borrower
'--
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
BS7R (0411)
Page 3 of 3 M07P 01/02/09 3: 12 PM 6805687222
EXHIDIT "A"
000713
ALL THAT CERTAIN TRACT, LOT, PIECE, AND PARCEL OF LAND
SITUATE IN THE COUNTY OF LINCOLN, STATE OF WYOMING, HEREBY
RELEASING AND WAIVING ALL RIGHTS UNDER AND BY VIRTUE OF THE
HOMESTEAD EXEMPTION LAWS OF THE STATE, TO-WIT:
LOT 16 OF STEWARD COUNTRY CLUB ESTATES PHASE 1 AS PLATTED
AND RECORDED IN THE OFFICIAL RECORDS OF LINCOLN COUNTY,
WYOMING.
RESERVING THEREFROM ALL RIGHTS, TITLE, AND INTEREST IN AND
TO ANY AND ALL MINERAL RIGHTS APPERTAINING THERETO.
BEING THE SAME PROPERTY CONVEYED TO DON R. MCFARLAND AND
JUDY MCFARLAND AS JOINT TENANTS BY DEED FROM LEISURE
VALLEY, INC. DATED 10/18/2006 RECORDED 02/27/2007 IN DEED BOOK 649
PAGE 749, IN THE COUNTY CLERK'S OFFICE OF LINCOLN, WYOMING.
TAX ID# 34190110810600
7158
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1/16/2889 75374138/1
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