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HomeMy WebLinkAbout945911 ("z.oo 6010917512 Return To, WFHM FINAL DOCS X9999-01M 1000 BLUE GENTIAN ROAD EAGAN, MN 55121 1919 DOUGLAS" OMAHA, NE 681010000 RECEIVED 3/17/2009 at 11:38 AM RECEIVING # 945911 BOOK: 717 PAGE: 752 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepared By: WELLS FARGO BANK, N. A. , \\\ (;0&752 [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 2L Certam rules regarding the usage of words used m this document are also provided in Section 16. (A) "8ecurityInstrument" means thIs document, which is datedMARCH 12, 2009 together with aU Riders to tins document. (B) "Borrower"is LARRY DEE BRICE AND APRIL GAYLE BRICE, HUSBAND AND WIFE Borrower ]S the mortgagor under tills Security Instrument. (C) "Lender"is WELLS FARGO BANK, N .A. Lender IS a NATIONAL ASSOCIATION organIzed and eX1sting under the laws of THE UNITED STATES Lender's address is P.O. BOX 11701, NEWARI<, NJ 071014701 Lender is the mortgagee under this Security Instrument. NMFL 3051 (WYCMJ Rev 612008 Form 3051 1/01 WY) (0803}.00 Page 1 of 16 0096988043 WYOMING· Single Femlly . Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP@ Wolters Kluwer Financial Services (;00&753 (D) "Note " means the promissory note signed by Borrower and datedMARCH 12 ( 2009 The Note states that Borrower owes LenderONE HUNDRED TWELVE THOUSAND FIVE HUNDRED AND 00/100 Doll~s (U.S. $ ****112 (500.00 ) plus interest. Borrower has pronused to pay this debt III regul~ Pertod1c Payments and to pay the debt III full not later than APRIL 01 ( 2024 (E) "Property" means the property that is described below under the heading "Transfer of RIghts in the Property," . (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late ch~ges due under the Note, and all sums due under this Security Instrument, plus mterest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The followmg Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider DVARider D CondOlmnium Rider D Second Home Rider [XJ Planned Vnit Development Rider D 1-4 Family Rider D BIweekly Payment Rider D Other(s) [specify] (8) "AppJicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and admmistratIve rules and orders (that have the effect of law) as well as all applIcable final, non-appealable Juclicial opimons. (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 condomimum association, homeowners aSSocIatiOn or similar organization, (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction origmated by check, draft, or similar paper mstrument, which IS Initiated through an electromc tenmnal, telephonic mstrument, computer, or magnetic tape so as to order, instruct, or authorize a finandal mstitutIon to debit or credit an account. Such tenn mcludes, but IS not lmuted to, point-of-sale transfers, automated teller machme transactIons, transfers initIated by telephone, wire transfers, and automated cle~inghouse transfers. (K) "Escrow Items" means those items that ~e described 111 SectIon 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, aw~d 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; (iii) conveyance in lIeu of condemnation; or (IV) misrepresentations of, or omissions as to, the value andlor condition of the Property, (M) "Mortgage Insurance" means lllsurance protecting Lender agamst the nonpayment of, or default on, the Loan (N) "Periodic Payment" means the regularly scheduled amount due for (i) prmcIpal and mterest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) "RESP A" means the Real Estate Settlement Procedures Act (12 V.S.C. Section 260 1 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 legislatíon or regulatIon that governs the same subject matter. As used In this Security Instrument, "RESP A" refers to all requirements and restrictions that ~e unposed in reg~d to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESP A. WYOMING· Single Family· Fannia Mae/Freddie Mac UNIFORM INSTRUMENT VMP® Wolters Kluwer Financial ServIces ~Form30511{01 A¡WY) (0803),00 '"' ~,.~,." 00&754 (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 obltgations under the Note and/or thIs SecurIty Instrument. TRANSFER OF RIGHTS IN THE PROPERTY Tills Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note, and (ü) the performance of Borrower's covenants and agreements under this Security Instrument and the Note, For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the followmg described property located In the COUNTY of LINCOLN [Type of Recordmg J\1rlsdiction] [Name of Recprdtng Junsdlction] LOT 165 OF STAR VALLEY RANCH PLAT 18, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT FILED ON MAY 3, 1979 AS INSTRUMENT NO. 523540 OF THE RECORDS OF THE LINCOLN COUNTY CLERK . TAX STATEMENTS SHOULD BE SENT TO: 11701, NEWARK, NJ 071014701 WELLS FARGO HOME MORTGAGE, P.O. BOX Parcel ID Number: 1234180520600500 367 PORTO ROAD STAR VALLEY RANCH ("Property Address"), which currently has the address of [Street] [City], Wyommg 83127 [ZIp Code] TOGETHER WITH all the Improvements now or hereafter erected on the property, and aU easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additlons shall also be covered by this Secunty Instrument. All of the foregomg IS referred to in this Security Instrument as the "Property," BORROWER COVENANTS that Borrower IS lawfuUy seIsed of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property IS unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property ag8.1nst all claIms and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combmes uniform covenants for natIOnal use and non-uniform covenants with limIted varIations by JurisdictIOn to const1tute a unifonn secunty mstrument covenng real property. WYOMING· Single Family. FannIe MaøJFreddle Mac UNIFORM INSTRUMENT VMPIjj) Wallers Kluwer Financial SeNlea. ~611101 y (0803).00 (nllral ~age 3 of 16 ~ 00&755 UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shan pay when due the prmcipal 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 Secunty Instrument shall be made in V.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 mstitution whose deposIts are insured by a federal agency, mstrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed receIved by Lender when received at the location designated in the Note or at such other 10catlOl1 as may be designated by Lender m 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 bnng the Loan current. Lender may accept any payment or partial payment insufficient to bnng the Loan current, without waiver of any nghts hereunder or preJuillce 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 Penodlc Payment IS applied as of Its scheduled due date, then Lender need not pay interest on unapphed funds. Lender may hold such unapplied funds 'Until Borrower makes payment to bring the Loan current. If Borrower does not do so withm a reasonable penod of tIme,· Lender shall either apply such funds or return them to Borrower. If not applied earher, such funds will be applied to the outstandmg pnncipa1 balance 'Under the Note Immeillate1y pnor to foreclosure. No offset or claim which Borrower might have now or III the future against Lender shall reheve Borrower trom making payments due under the Note and thlS Security Instrument or performing the covenants and agreements secured by thIS Secunty Instrument. 2. Application of Payments or Proceeds. Except as otherwise described m this Section 2, an payments accepted and apphed by Lender shall be applIed m the follQwmg order of pnority: (a) mterest due 'Under the Note; (b) pnnclpal due under the Note; (c) amounts due under SectIOn 3. Such payments shall be apphed to each PenodIc Payment III the order in which it became dUe, Any remammg amo'Unts 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 PenodIc Payment which Includes a sufficIent amount to pay any late charge due, the payment may be applIed to the delmquent 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 m fulL To the extent that any excess eXIsts after the payment IS applIed to the full payment of one or more PeriodIc Payments, such excess may be applIed to any late charges due. Voluntary prepayments shall be applied fIrst to any prepayment charges and then as described III the Note Any applIcatIOn of payments, insurance proceeds, or Miscellaneous Proceeds to pnncipal due 'Under the Note shall not extend or postpone the due date, or cbange 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 tbe Note IS paid III fun, a sum (the "Funds") to provide for payment of amounts due for; (a) taxes and assessments and other items which can attam priOrIty over thIs SeC11nty Instrument as a WYOMING· Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP~ Wolle", Kluwar Financial Se"'lce. ~Form30611rol . P6(WY) (0603).00 Inl . . F'age4 of 16 «t? eOô756 lien or encumbrance on the Property, (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all msurance 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 tïme durmg the term 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 Sectlon. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligatIOn to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obhgatton to pay to Lender Funds for any or all Escrow Items at any time. Any such WaIver may only be m writing. In the event of such waiver, Borrower shall pay dITectly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waIVed by Lender and, if Lender requITes, shall furnish to Lender receipts evidencing such payment withm such bme penod as Lender may require. Borrower's obligatlOn to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contamed m this Security Instrwnent, 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 obhgated under SectIOn 9 to repay to Lender any such amount. Lender may revoke the waIVer as to any or all Escrow Items at any tnne by a notice given in accordance with SectIon 15 and, upon such revocation, Borrower shall pay to Lender an Funds, and ín such amounts, that are then reqUired under this SectJ.on 3. Lender may, at any tune, collect and hold Funds 1D an amount (a) sufficIent to permit Lender to apply the Funds at the hme specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A Lender shan estimate the arp.ount 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 entlty (incIudmg Lender, if Lender is an lDstitutlOn whose deposits are so insured) or m 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 shan not charge Borrower for holdmg and applying the Funds, annual1y anaIyzmg the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law penmts Lender to make such a charge, Unless an agreement is made In writing or Applicable Law reqUIres mterest to be paid on the Funds, Lender shall not be requíred to pay Borrower any Interest or earnmgs on the Funds. Borrower and Lender can agree In writing, however, that mterest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accountmg of the Funds as required by RESP A. If there is a surplus of Funds held m escrow, as defined under RESP A, 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 12 monthly payments. If there is a deficIency of Funds held III escrow, as defined under RESP A, Lender shall notify Borrower as requITed by RESP A, and Borrower shall pay to Lender the amount necessary tQ make up the deficiency In accordance with RESPA, but ill no more than 12 monthly payments. Upon payment III fun of aU sums secured by thIs Security Instrument, Lender shaH promptly refund to Borrower any Funds held by Lender. WYOMING· Single Family. Fannl. M..lFreddl. Mac UNIFORM INSTRUMENT VMPiIj) Wolters Kluwer Financial Services ~ Form30511/01 . MP~¡w.Y} (0803).00 Inltl Pag. 5 of 16 ~ ., -- 00&757 4. Charges; Licl1s. Borrower shall pay all taxes, assessments, charges, fines, andlmposiuons 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 shan pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has PrIority over thIs SecurIty Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the hen in a manner acceptable to Lender, but only so long as Borrower IS performing such agreement; (b) contests the hen III good faith by, or defends against enforcement of the hen m, legal proceedings which in Lender's opml0n operate to prevent the enforcement of the lien while those proceedings are pencl1ng, but only until such proceecl1ngs are conc.1uded; or ( c) secures from the holder t the lien an agreement satisfactory, to Le.nder su~rdl1la~g the hen to thtS Security Instrument. If Lender de rmines that anypart of the Property IS subject to a lien WhICh can attam pnority over this Security Instrume t, Lender may gIve Borrower a notice identifying the lien, Withm 1 0 day~ of the date on which that no~tce is given, Borrower shall satisfY the hen or take one or more of the actions set forth above in thIS Sec~on 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 connectiorl 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 mcluding, but not hmited 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 reqUlres. What Lender requires pursuant to the precedmg sentences can change during the term of the Loan. The insurance carrier provicl1ng the insurance shall be chosen by Borrower subject to Lender's nght to cI1sapprove Borrower's choIce, which nght sha11 not be exercised unreasonably. Lender may require Borrower to pay, III 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 hme remappingsor similar changes occur which reasonably mIght affect such determmation or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency III connection with the review of any flood zone determinatIOn resu1tmg from an objection by Borrower, If Borrower fails to mamtain any of the coverages described above, Lender may obtain msurance coverage, at Lenderls option and Borrower's expense. Lender is under no obhgatIon 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 m the Property, or the contents of the Property, agamst any risk, hazard or liabilíty and might provide greater or lesser coverage than was prevIOusly in effect. Borrower acknowledges that the cost of the insurance coverage so obtamed ID1ght sIgnificantly exceed the cost of msurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additIOnal debt of Borrower secured by thIS Secunty Instrument. These amounts shall bear mterest 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 pohcIes required by Lender and renewals of such polIcIes shall be subject to Lender's nght 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 sha11 promptly give to Lender all receipts of paid prenuums and renewal notices. If Borrower obtams any form of insurance coverage, not otherwIse required by Lender, ~~~ING. 8lngl& Family - Fannia Maa/Fraddle Mac UNIFORM INSTRUMENT Wollers Kluwer Financial S&rvicea (.0"'75° ~... 0 b 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 additlOnalloss payee. In the event of loss, Borrower shall give prompt notIce to the msurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and BOITower otherwise agree m writmg, any Insurance proceeds, whether or not the underlymg msurance was reqUired by Lender, shall be apphed to restoratlon or repall" of the Property, if the rc::storation or repall" IS economically feasible and Lender's security is not lessened. During such repair and restoratIOn penoe!, Lender shan have the nght to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfacuon, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repaIrS and restorat.1on in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made In writmg or Applicable Law reqUITes mterest 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 BOITower shall not be paid out of the msurance proceeds and shall be the sole obhgation of BOITower. If the restoration or repaIr IS not econoffilcally feasible or Lender's security would be lessened, the insurance proceeds shall be apphed 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, negotlate and settle any available Insurance claIm and related matters. If Borrower does not respond within 30 days to a notIce ftom Lender that the insurance carner has offered to settle a claim, then Lender may negotiate and settle the claim, The 3D-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 Securìty Instrument, and (b) any other of Borrower's nghts (other than the nght to any refund of unearned premIUms paid by Borrower) under all insurance policies covenng the Property, lllsofar as such rights are applicable to the coverage of the Property. Lender may use the InSUrance proceeds either to repalI or restore the Property or to pay amounts unpaid under the Note or this Secunty Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's pnncipal residence withm 60 days after the executIon of this Security Instrument and shall continue to occupy the Property as Borrower's pnncIpal 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 Cll"cumstances exist which are beyond BOITower's control. ro-~~ING . Single Family. Fannie MaelFreddle Mac UNIFORM INSTRUMENT Wolte", Kluwer Financial Sorvlces 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to detenorate or commit waste on the Property. Whether or not Borrower IS residing III the Property, Borrower shan mamtain the Property in order to prevent the Property ftom deteriorating or decreasing in value due to its condition. Unless it IS deternuned pursuant to Section 5 that repalI or restoratIon IS not economically feasible, Borrower shall promptly repall" the Property if damaged to avoid further detenoratlOn or damage. If insurance or condemnatIon proceeds are paid 111 connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restonng the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoratlOn m a smgle payment or in a senes of progress payments as the work IS completed. If the Insurance or condemnatIon proceeds are not sufficient ~ -3051 1101 . 6rNY (0803).00 Inl .. ~age 7 af 16 ~ ÜOó759 to repan- or restore the Property, Borrower is not relieved of Borrower's obhgatIon for the completion of such repair or restoration. Lender or its agent may make reasonable entrIes upon and mspectlOns of the Property. If it has reasonable cause, Lender may mspect the mtenor of the improvements on the Property. Lender shall give Borrower notlce at the tIme of or prior to such an intenor inspection specifymg 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 actmg at the drrectlOn of Borrower or with Borrower's knowledge or consent gave materially false, uúsleading, or inaccurate mformation or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representatIons mclude, but are not lunited 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 Instrumenl 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 m 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 attam pnority 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, includmg protecting and/or assessmg the value of the Property, and securmg and/or repairing the Property. Lender's actions can Include, but are not lImited to; (a) paying any sums secured by a lien which has pnority over tIns Security Instrument, (b) appearmg in court; and (c) paymg reasonable attorneys' fees to protect its interest m the Property and/or rights under this Security Instrument, lDcluding its secured positlOn lD a bankruptcy proceedmg. Securing the Property mc1udes, but is not limited to; entenng the Property to make repaIrs, change locks, replace or board up doors and wmdows, drain water from pipes, eliminate buíldmg or other code vIOlations or dangerous conditIons, and have utilittes turned on or off. Although Lender may take actton 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 shan be payable, with such mterest, upon nottce ftom Lender to Borrower requestmg payment. If this Secunty Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acgulfes fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writmg. 10. Mortgage Insurance. If Lender requITed Mortgage Insurance as a conditIOn of makIng the Loan, Borrower shall pay the premiums 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 premIUms required to obtain coverage substantially equIvalent to the Mortgage Insurance previously 1U effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously m effect, from an alternate WYOMING· Sing I. Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP@ Wolters Kluwer Flnanolal Servlc.. ~orm30511/01 . P6 Y (0803).00 Initial - ~age 8 of 16 ¥ ÜO(i¡760 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 m effect. Lender will accept, use and retain these payments as a non-refundable loss reserve m heu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstandmg the fact that the Loan is ultimately paid 111 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 (m the amount and for the penod that Lender requITes) provided by an insurer selected by Lender again becomes available, IS obtained, and Lender requires separately desIgnated payments towaxd the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of makmg the Loan and Borrower was requITed to make separately designated payments toward the premlUms for Mortgage Insurance, Borrower shall pay the premIUms required to mamtam Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's reqUlrement for Mortgage Insurance ends in accordance with any wntten agreement between Borrower and Lender providing for such tenninatlOn or until tennmatlon IS required by Apphcable Law. Nothing in this Section 10 affects Borrower's obhgatlOn to pay mterest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certam losses it maymcur if Borrower does not repay the Loan as ¡¡.greed, Borrower IS not a party to the Mortgage Insurance Mortgage Insurers evaluate theIT total risk on all such Insurance in force ftom bme to time, and may enter into agreements with other parties that shaxe or modify their risk, or reduce losses. These agreements axe on tenns and conditions that axe satlsfactory to the mortgage msurer and the other party (or parties) to these agreements. These agreements may requITe the mortgage insurer to make payments usmg any source of funds that the mortgage msurer may have available (which may include funds obtamed ftom Mortgage Insurance premiums), As a result of these agreements, Lender, any purch.aser of the Note, another insurer, any remsurer, any other entity, or any affiliate of any of the foregomg, may receive (directly or mdirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for shaxmg or modifying the mortgage insurer's risk, or reducmg losses. If such agreement provides that an affilIate of Lender takes a shaxe of the ínsurer's risk in exchange for a share of the premIUms paid to the lllsurer, the arrangement IS often termed "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 thatwereunearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. AU Mlscel1aneous Proceeds are hereby assigned to and shall be paid to Lender, If the Property is damaged, such MIscellaneous Proceeds shall be appl1ed to restoratIon or repair of the Property, if the restoration or repair is economically feasible and Lender's security IS not lessened. During such repan- and restoration penod, Lender shall have the right to hold such Miscel1aneous Proceeds until Lender has had an Opportunity to inspect such Property to ensure the work has been completed to Lender's satisfactlon, provided that such mspection shall be undertaken promptly. Lender may pay for the ~~~ING - Single Family. Fannie MaeIFreddle Mec UNIFORM INSTRUMENT Wolters Kluwor Financial Services ~ Form30511101 ""V"Y~ (0803}.OO Inlllal age g of 1 e ~ OOv76~i repa1rs and restoration in a smg1e disbursement or 1ll a series of progress payments as the work 1S completed. Unless an agreement 1S made III writing or Applicable Law reqwres mterest to be paid on such MIscellaneous Proceeds, Lender shall not be required to pay Borrower any mterest or earnings on such M1scellaneous Proceeds. If the restoratlOn or reparr is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security InstJ;"ument, whether or not then due, with the excess, if any, paid to Borrower. Such MIscellaneous Proceeds shall be applied in the order provided for 1ll Section 2. In the event of a total taklllg, destruction, or loss III 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, destructlOn, or loss m value of the Property in which the farr market value of the Property immediately before the partial takmg, destruction, or loss m value is equal to or greater than the amount of the sums secured by thIS Security Instrument Immedlately before the partial taking, destruction, or loss m value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the MIscellaneous Proceeds multlphed by the followmg fractlOn; (a) the total amount of the sums secured immed1ate1y before the partial taking, destructlon, or loss in value divided by (b) the fair market value of the Property lmmedlately before the partial takmg, destruction, or loss in value. Any balance shall be paid to Borrower, In the event of a partial taking, destructlon, or loss m value of the Property in which the fair market value of the Property immediately before the partial taking, destructlOn, or loss in value is less than the amount of the sums secured immedlately before the partial taking, destructlon, or loss III value, unless Borrower and Lender otherwise agree in writmg, the Mlscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after nobce by Lender to Borrower that the Opposing Party (as defmed in the next sentence) offers to make an award to settle a claim for damages, Borrower fans to respond to Lender within 30 days after the date the notIce 1S given, Lender is authorized to collect and apply the M1scellaneous Proceeds either to restoratlon or reparr 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 agalllst 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 criminal, is begun that, In Lender's judgment, could result in forfeIture of the Property or other materialnnpairment of Lender's mterest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleratIon has occurred, remstate as provided m Section 19, by causing the action or proceeding to be dlsmlssed with a ruling that, in Lender's Judgment, precludes forfeiture of the Property or other material 1mpa1rment of Lender's mterest m the Property or rights under thIS Securlty Instrument. The proceeds of any award or claIm for damages that are attributable to the Impairment of Lender's interest in the Property are hereby ass1gned and shaH be paid to Lender. All Mlsêellaneous Proceeds that are not applied to restoratIon or repair of the Property shall be apphed m 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 Secunty 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 III Interest of Borrower. Lender shall not be required to commence proceedings agamst ;xr~OOING - Single Family" Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Wolle", Kluwe( Flnenclal SSIVlce5 000762 any Successor In Interest of Borrower or to refuse to extend tIme for payment or otherwise modify amortlzanon of the sums secured by thiS Security Instrument by reason of any demand made by the onginal 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 ftom third persons, entities or Successors ill Interest of Borrower or In amounts less than the amount then due, shall not be a waiver of or preclude the exerCIse of any nght or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obl1gations and liability shall be joint and several. However, any Borrower who co-signs thiS Security Instrument but does not execute the Note (a "co-signer"): (a) IS co-signing tillS Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of thiS SecurIty Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodatIons with regard to the tenns of thiS Security Instrument 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 obhgatIons under thiS Secunty Instrument In writmg, and is approved by Lender, shall obtain all of Borrower's nghts and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under tills Security Instrument unless Lender agrees to such release in writIng. The covenants and agreements of thIs Security Instrument shall bind (except as provided m SectIon 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed m connectIOn with Borrower's default, for the purpose of protectmg Lender's interest in the Property and rights under thIS Security Instrument, ìncludmg, but not hmited to, attorneys' fees, property inspection and valuatIOn fees. In regard to any other fees, the absence of express authority in thIs Security Instrument to charge a specific fee to Borrower shan not be construed as a prohibitIon on the chargmg of such fee. Lender may not charge fees that are expressly prohibited by thiS Security Instrument or by Appltcable Law. If the Loan is subject to a law which sets maxIDlUm loan charges, and that law IS finally interpreted so that the Interest or other loan charges collected or to be collected m connectIOn with the Loan exceed the pennitted limits, then; (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limIt; and (b) any sums already collected from Borrower which exceeded permitted limits wiU be refunded to Borrower. Lender may choose to make this refund by reducing the princIpal owed under the Note or by makmg a direct payment to BOlTower. 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 dtrect payment to Borrower will constitute a waiver of any right of action Borrower might have arJS1ng out of such overcharge. 15. Notices. All notIces gtven by Borrower or Lender in connectIOn with this Security Instrument must be m writing. Any notIce to Borrower in connection with thIS Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually dehvered to Borrower's notIce address if sent by other means. Notice to anyone Borrower shall constitute notIce to all Bon;owers unless Apphcable Law expressly requIres otherwise. The notice address shall be the Property Address unless 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 reportlng Borrower's ~ Form30511101 . M"tlIVVY) (0803).00 In _ Pag~11of16 ~ WYOMING· Single Femlly . Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP(ê) Wolters Kluwer Financial Services OOú763 change of address, then Borrower shall only repoli a change of address through that specified procedure.. There may be only one desIgnated notIce address under this Security Instrument at anyone time. Any notice to Lender shall be gIven by delivering it or by mailmg it by first class mail to Lender's address stated herem unless 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 AppHcable Law requIrement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the JurisdIction in which the Property IS located. All rights and obligations contained in thIS Security Instrument are subject to any reqU1I'ements and hmitations of Apphcable 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 proVlslOn or clause of tills 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 femirune gender; (b) words in the singular shan mean and mclude 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 Bo.rrower. As used in thIS Section 18, "Interest in the Property" means any legal or beneficial mterest in the Property, mcluding, but not hmited to, those beneficíal mterests transferred III 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 aU 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 m Borrower IS sold or transferred) without Lender's prior written consent, Lender may reqUIre immediate payment m full of all sums secured by tills 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 penod of not less than 30 days from the date the notice is gIven m accordance with SectIOn 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums pnor to the expIratron of thIS period, Lender may mvoke any remedies perlll1tted by thIS Security Instrument without further notice or demand on Borrower, 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certam conditions, Borrower shall have the nght to have enforcement of thIS Security Instrument discontinued at any bme prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained m this Security Instrument; (b) such other period as Apphcable Law might specifY for the tenninatlOn of Borrower's right to remstate; or (c) entry of a judgment enforcmg 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 :7,J~rtING . Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Wolters Kluwer FlnancJal Services 00&764 agreements; (c) pays a11 expenses incurred m enforcing tius Security Instrument, including, but not limIted to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the putpose of protectmg Lender's mterest m 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 SeCllrity Instrument, sha11 contmue unchanged. Lender may require that Borrower pay such remstatement sums and expenses in one or more of the followmg 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 mstitubon whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electromc Funds Transfer. Upon remstatement by Borrower, this Security Instrument and oblígations secured hereby shall remam fully effective as if no acceleration bad occurred. However, tills 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 m the Note (together with this Security Instrument) can be sold one or more bmes without pnor notice to Borrower. A sale might result m a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan semcmg obhgations under the Note, this Security Instrument, and Apphclj.ble Law. There also might be one or more changes of the Loan Servlcer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given wntten notIce of the change which will state the name and address of the new Loan Servlcer, the address to which payments should be made and any other mformation RESP A requires m connectlOo with a notice of transfer of semcing. If the Note IS sold and thereafter the Loan is semced by a Loan Semcer other than the purchaser of the Note, the mortgage loan servicing obligatlOns to Borrower will remam with the Loan Servlcer 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, Jom, or be joined to any judicial actIOn (as either an mdividual 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 comphance with the reqUlrements of Section 15) of such alleged breach and afforded the other party hereto a reasonable penod after the glYmg of such notice to take correctlVe actlOn. If Applicable Law provides a time period which must elapse before certam 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 glVen to Borrower pursuant to Section 18 shall be deemed to satIsfy the notice and opportutùty to take correctJ.ve action provisions of this Section 20 21. Hazardous Substances. As used m thiS SectIOn 21. (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, po11utants, or wastes by Environmental Law and the followmg substances; gasolme, kerosene, other flammable or toxic petroleum products, tOXIC peshcides and herbicides, volatile solvents, materials containmg asbestos or formaldehyde, and radlOactive materials; (b) "EnVIronmental Law" means federal laws and laws of the JurisdIctIon where the Property is located that relate to health, safety or enVU"onmental protection; (c) "Environmental Cleanup" includes any response action, remedial actIOn, or removal action, as defined m EnVJIonmental Law; and (d) an "EnVIronmental Condition" means a condition that can cause, contribute to, or otherwIse trigger an EnvlIonmental Cleanup. WYOMING - Slngla Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP@ Wolters Kluwer Financial Sarvlces ~ Form30511101 . MP6(WY) (0803).00 Initial Page 13 of 16 a;p- ÜOv765 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 affectmg the Property (a) that IS III violatIOn of any EnvlI'onmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a conditIon that adversely affects the value of the Property The precedIng two sentences shaH not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropnate to normal residential uses and to mamtenance of the Property (includIng, but not lImited to, hazardous substances m consumer products). Borrower shaH promptly give Lender written notice of (a) any Illvestigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party Illvolving the Property and any Hazardous Substance or Env:ironmental Law of which Borrower has actual knowledge, (b) any EnVIronmental ConditIon, mcluding but not limited to, any spi1Iing, leakìng, 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 pnvate party, that any removal or other remediation of any Hazardous Substance affectmg the Property is necessary, Borrower shall promptly take all necessary remedial actIons in accordance with Env1!onmental Law. Nothing herem shaIl create any obligation on Lender for an Env1!onmental Cleanup. NON-UNIFOIUvI COVENANTS, Borrowçr 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 tbe right to reinstate after acceleration and the right to bring a court action to assert the non~e:rlstence 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 otber remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incnrred in pursuing the remedies provided 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 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 . ~~f8\ING. Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Wolters Kluwer Financial Servl.ces Form 3051 1101 803).00 Pege 14 or 18 00&766 releasmg tl11S Security Instrument, but only if the fee is paid to a thIrd party for semces 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 terms and covenants contained in tlus Security Instrument and in any Rider executed by Borrower and recorded with.it. Witnesses; eal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Bonuwer (Seal) -Borrower (Seal) -Borrower ro-~~ING - Single Family. FBIlnle Mae/Freddie Mac UNIFORM INSTRUMENT Woller. Kluwer Flnanclal SeNlc.. ~orm30511101 . ) (0803).00 InlUa . Page 15 of 18 ~ .. ., 0"': 76'''' Ü 0' (} { .1~~A- STATE OF -wY-'fJMfNC'; . ?\Jt£.:3Áct"'.s-ß",- This mstrument was acknowledged before me on 3/1.:}. (01 by LARRY DEE BRICE AND APRIL GAYLE BRICE COWlty ss: ÐENISE E SPRAGCt ...., PuIIIIg .... Of UIIh III CbMlllllon ExpIrIe ,..'NOta COMMISSION NO. 177111 (Á¡~d/ My CommIssion Expires: WYOMING - Slnyle Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP@ Wolla... Kluwer Financial Services ~.Form30511101 ¿ ~ VMP6(WY) (0803).00 Inllia .. P.ge16of16 ~ 00&768 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 12TH day of MARCH, 2009 , and IS Incorporated mto and shaH 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 WELLS FARGO BANK, N.A. (the "Lender") of the same date and covering the Property descríbed in the Security Instrument and located at: 367 PORTO ROAD, STAR VALLEY RANCH, NY 83127 [property Address] The Property mcludes, but IS not lirruted to, a parcel of land improved with a dwellmg, together with other such parcels and certam common areas and facilities, as described in::OVENANTS 1 CONDITIONS AND RESTRICTIONS (the "Declaration"), The Property IS a part of a planned umt development known as STAR VALLEY RANCH [Name of Planned Unit DevelopmentJ (the "PUD"). The Property also Includes Borrower's interest in the homeowners assocIatIOn or equivalent enl:1ty ownmg 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 Secunty Instrument, Borrower and Lender further covenant and agree as follows~ A. PUD Obligations. Borrower shall perform aU of Borrower's obhgatlons under the PUD's ConstItuent Documents. The "Constltuent Documents" are the (í) Declaration; (ii) articles of incorporatIOn, trust instrument or any eqUlvalent document which creates the Owners AssociatIOn; and em) any by-Jaws or other rules or regulations of the Owners AssocIation. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. 0096988043 MULTISTATE PUD RIDER· Single Family - Fannie MaelFreddle Mac UNIFORM INSTRUMENT ~31~01 Page 1 of 3 Inltlal!í~ ~7R (000') VMP MORTOAGE FORMS· (800)521-729' ~ III i i 111111111 nlllll C;00769 B. Property Insurance. So long as the Owners AssocIation maintains, with a generally accepted msurance carrier, a "master" or "blanket" policy insuring the Property which IS satIsfactory to Lender and . which provides insurance coverage 111 the amounts (mcludmg deductible levels), for the periods, and against loss by fue, hazards mcluded wit:.bJ.n the term "extended coverage," and any other hazards, Includmg, but not limited to, earthquakes and floods, for which Lender reqUlres insurance, then. (i) Lender waives the provision ill Section 3 for the Periodic Payment to Lender of the yearly premiUm installments for property insurance on the Property; and (ü) Borrower's obligation under Section 5 to mamtain property insurance coverage on the Property is deemed satIsfied to the extent that the required coverage is províded by the Owners Assoeiauon pohey, What Lender requITes as a conditlOn of this waiver can change during the term of the loan, Borrower shall give Lender prompt nobce of any lapse 1ll 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 Illsurance pohcy acceptable in form, amount, and extent of coverage to Lender, D. Condemnation. The proceeds of any award or claim for damages, d1rect or consequential, payable to Borrower in connectiOn with any condemnation or other takmg of all or any part of the Property or the common areas and facilitIes of th.e PUD, or for any conveyance III heu 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 províded III SectIOn 1 L E. Lender's Prior Consent. Borrower shall not, except after notIce to Lender and with Lender's prior written consent, either partitlOD Of subdIvide the Property or consent to; (i) the abandonment or termination of the POO, except for abandonment or terminabon required by law In the case of substantial destructlOn by fire or other casualty or in the case of a taking by condemnation or emment domain; (ii) any amendment to any provisIOn of the "Constituent Documents" if the provision is for the express benefit of Lender; (Hi) termination of professiOnal management and assumpbon of self-management of the Owners Association; or (iv) any actIon which would have the effect of rendering the public liability insurance coverage mamtamed 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 tenns of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with mterest, upon notice from Lender to Borrower requestmg payment. cmIÞ..7R (0008) <!!> '";U"~F.~ 3156 '101 Page 2 of 3 GOv7·70 BY SIGNING BELOW, Borrower accepts and agrees to the ternis and provisIOns contained III this PUD Rider. ~~'~) , E ICE -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower G-7R (0008) @ (Seal) -Borrow6I (Seal) -Borrower (Seal) -Borrower Page 3 of 3 Form 3150 1/01