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HomeMy WebLinkAbout946217 After recording please return to: US Recordings, Inc. 2925 Country Drive Ste 201 St. Paul, MN 55117 RECEIVED 3/30/2009 at 3:48 PM RECEIVING # 946217 BOOK: 719 PAGE: 135 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ûOO1.35 1ë . (Space Above This Lille For Recording Data] 2 [-3LI - 0o8ì-o'l3:;8~' '11..+\ ~IN: 100055401296453543 18:>'31'ò:x3 MORTGAGE DEFINITIONS Words used in multiple sections ofthis document are defined below and other words are defined m Sections 3, 11, 13, 18,20 and 21. Certam rules regardmg the usage of words used m this document are also provided m Section 16. (A) "Security Instrument" means this document, which is dated together with aU Riders to this document. March 9, 2009 (B) "Borrower" is THE PENROD REVOCABLE FAMILY TRUST DATED JUNE 1 2008 Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is actmg solely as a nommee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026 , tel. (888) 679-MERS. ) Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie MaeiFreddie Mac Uniform Instrument Form 30511/01 MERS Modified The Compliance Source, Inc. Page 1 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 www.compliancesource.comlb/2000. The Compliance Source, Inc. Illmllllllllll~lmIHml~ ~Ov136 (D) "Lender" is bank Lender is a united States CA 91101 IndyMac Federal Bank, FSB, a federally chartered savings Federal Savings Bank of America . Lender's address is organized and existing under the laws of 155 North Lake Avenue, Pasadena, (E) "Note" means the promissory note signed by Borrower and dated March 9, 2009 The Note states that Borrower owes Lender one hundred thousand and NO/100ths Dollars (U.S. $ 100,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than April 1, 2039 (F) "Property" means the property that is described below under the heading ''Transfer of Rights in the Property. " (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider D 1-4 Family Rider D Other(s) [specify] D Condominium Rider D Planned Unit Development Rider ¡g Revocable Trust Rider D Second Home Rider D Biweekly Payment Rider (1) "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. (J) "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. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated 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 account. 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. (L) "Escrow Items" means those items that are described in Section 3. Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument Form 30511/01 MERS Modified The Compliance Source, Inc. Page 2 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 www.compliancesource.com fj;)2000, The Compliance Source, Inc. 1IIIIIIIIIœlllWIWllIOOWIIIÐill (,001.37 (M) "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) ~ondemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) mis~epresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" ml;:a.ns insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under S~ction 3 of this Security Instrument. (P) "RESPA" means the R~al Estate Settlement Procedures Act (12 US.C. §2601 ~ ~ and its implementing regulation, Regulatior¡. X (24 C.ER. Part 3500), as they might be amended ITom time to time, or any additional or successor legislation ör regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all tequirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan doe,s not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's oþligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures tö Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, BOlTower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns ofMERS, with power of sale, the following described property located in the County of [Type of Recording Jurisdiction] See Exhibit A attached hereto and made a Lincoln [Name of Recording Jurisdiction] part hereof which currently has the address of 249 North Street [City] [Street] , Wyoming 83122 [Zip Code] ("Property Address"): Grover TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument Form 30511/01 MERS Modified The Compliance Source, Inc. Page 3 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05108 www.compliancesource.comiC2000. The Compliance Source, Inc. lillllllllœUHlllm~111 ÜOv138 Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, 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) Electronic 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 atly 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 fÌ'om 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 otherwise 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. Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument Form 30511/01 MERS Modified The Compliance Source, Inc. Page 4 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05108 www.compliancesource.comI02000. The Compliance Source, Inc. I ill~~~II~11 Ulml~IIWllllli~ I~ ÐI i~ ûOû139 If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late chargc. If more than one Periodic Payment is outstanding, Lender may apply any payment received JÌom 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 Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in 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 lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that 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 unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in 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 aU 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 amowlt 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 permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of 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 RESPA. 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 permits 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 Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie MaelFreddie Mac Unüorm Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 5 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 ¡¡;¡:WOO, The Compliance Source, Inc. 111111~llimll m mll~1111 ~III~ II~ I~ II ûOv140 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 RESPA. Ifthere is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, 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. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in -writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, 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 ftom the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender dètermines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which 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 ftom 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 Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument MERS Moditied The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 6 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05108 «:>2000, The Compliance Source, Inc. In~I~"lu~ælll~I~"IIW "" Wmm!~~ úO&141 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 Instrument. These amounts shall bear interest at the Note rate ITom the date of disbursement and shall be payable, with such interest, upon notice ITom 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, 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. Unless 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. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or 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 ITom Lender that the insurance carrier 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 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 umeasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower sha1lnot 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 ITom deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 7 of16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 !C2000, The Compliance Source, Inc. Ilmllllll~l~i 11I~lmi~m III mlllll~lI~ OOû1.42 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 only 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 work is completed. If the insurance or condemnation proceeds are not sufficient 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 information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy ofthe 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 sums 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 trom 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 trom the date of disbursement and shall be payable, with such interest, upon notice trom 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 premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available trom 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 in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Loan No: 129645354 Wyoming Mortgage-Siugle Family-Funie Mae/Freddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511101 Page 8 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 ©2000, The Compliance Source, Inc. 1IIIIIimlmllllllml~II~lnlml~1 000:143 Insur8flce previously in effect, trom an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount ofthe separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, 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 reserve, 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 trom time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms 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 trom 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 trom (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 ofthe premiums paid to the insurer, 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 that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. 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 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 Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form30511/01 Page 9 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05108 fC2000, The Compliance Source, Inc. Illml~~Ulllllmlmllimllll~I~~~ ûO&1.44 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 otherwise 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 otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether 01' 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 criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment 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 impairment 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 impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of 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 any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in hlterest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie MaeiFreddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 10 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 It'J:ZOOO, The Compliance Source, Inc. 111111~lllmmll~~ 111111111I~llllllilll~ IIIII 0001.45 acceptance of payments from third persons, entitÜ:s or Successors in Interest of Borrower or in amounts less tharl 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 arid agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrwnent; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and arlY other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations arid liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument 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 performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, 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 Instrument 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 this 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 connection with the Loan exceed the permitted 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 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 arlY right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in cOlmection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable 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 reporting Borrower's charlge of address, then Borrower shall only report 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 mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in 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. Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 11 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 iC>ZOOO, The Compliance Source, Inc. IIOOIBIII~IIII~~ml~ ~III~ m~~ C,O\Ji1.46 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 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 ofthis 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 sums 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 ITom the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay 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 Ailer 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 m this Security Instrument; (b) such other period as Applicable Law might specify for the tennination of Borrower's right to remstate; 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 agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attomeys' 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 ofthe 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) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remam 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 Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie MaeiFreddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 12 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05108 1C2000, The Compliance Source, Inc. II~~ ~~~IIIW ~ml~II~II~ II~ ~Ii II~ ~I!~~ úOú147 might result in 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 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 Servicer, Borrower will be given written notice of the change which will state the name and address ofthe new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note 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 Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or 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 Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited 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, Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie MaeiFreddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.compliancesource.com Form 30511/01 Page 13 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 (}2000, The Compliance Source, Inc. IIIIIIIIIIIII~IIW I~ I~I ~IIII ~ Wi II Iii III 00&1.48 Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental 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. 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 IS. 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 releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. The following signature(s) and acknowledgment(s) are incorporated into and made a part ofthis Wyoming Mortgage dated March 9, 2009 between THE PENROD REVOCABLE FAMILY TRUST DATED JUNE 1 2008 federally chartered savings bank , and IndyMac Federal Bank, FSB, a Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument Form 30511/01 MERS Modified Tbe Compliance Source, Ine. Page 14 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05108 www.compliancesource.comItJ2000. The Compliance Source, Inc. I ill~!mlißœ !IIMI~II ~II m~ IU III~ II~ 00&1.49 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Inslrument and in any Rider executed by Borrower and recorded with it. ~ 4< SEE SIGNATURE ADDENDUM 'ro SECURITY If' INSTRUMENT ATI'ACHED HEREI'O AND MADE A PART HEROOF. (Seal) -Borrower [Printed Name] / (Seal) -Borrower [Printed Name] / ,/ (Seal) -Borrower [Printed Name] / / (Seal) -Borrower [Printed Name] // // / / / / /' / Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie MaelFreddie Mac Uniform Instrument Form 30511/01 MERS Modified The Compliance Source, Inc. Page 15 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 www.compliancesource.comI02000. The Compliance Source, Inc. liIWIIIIIIWIII~I~~III~umIDmiir OO\i1.50 Signature Addendum to Deed of Trust/Mortgage BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in the Security Instrument and in any rider (s) executed by Borrower and recorded with it. :iAtI;~~ BQrrower ) ~. ._~..,.'7 .' ", ~,,'::>,.., .') , ....~ ..... " '.- .' ,/ "c":' '._ .~..¡ ,..", ,... . ...-' '.~.f c:"....' y-7-" ",,,,:dZr_,,.c::.-= ~...-a ? "'''r"'þ- (___,__--> / V"" . c;;...~<-."III7Z' &Y I' Jósephine Ella Penrod·, Borrower Borrower Borrower ~'j £1 . Fl PY '~ Trustee Trustee of the The Penrod Revocable Family Trust, under trust instrument dated June I, 2006, for the benefit of Stanley Floyd Penrod and Josephine Ella Penrod. Trustee of the The Penrod Revocable Family Trust, under trust instrument dated June 1, 2008, for the benefit of Stanley Floyd Penrod and Josephine Ella Penrod. Trustee Trustee Loan No: 129645354 Signature Addendum to Deed of TrustIMortgage -TIlE COMf'LlANCE SOURCE, INc.- www.COR1.liancesource.com Page 1 of2 111.mlllllllllmll~ 536S6MU 3IV1 02001. Th.e_lienee Souree.lnn BARCODE State of County of / úOô151 ACKNOWLEDGMENT § § § This instrument was acknowledged before me on stanley Floyd Penrod and Josephine Ella P / / (Seal, if any) by Signature of Notarial Officer Printed Name Title (and Rank) My Commission Expires: Loan No: 129645354 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac Uniform Instrument Form 30511/01 MERS Modified The Compliance Source, Inc. Page 16 of 16 Modified by Compliance Source 14301WY 08/00 Rev. 05/08 www.compliancesource.com©2000. The Compliance Source, Inc. IIOOWllm~ ~IIWII~m 00 I~II mill OOúì152 BY SIGNING BELOW, the undersigned, Settlor (s) acknowledges all of the terms and covenants in the Security Instrument and any rider (s) thereto and agrees to be bound thereby. ~~~4.~ Josephine Ella Penrod Trust Settlor Trust Settlor Trust Settlor State oflÙ¡00"ìlnq County of L '-.nCJ) \ I'l On~th q l~o00f JD ~lNL U \0.. 'PJLr\röd before me personally appeared S\--o.A \~) '1-tOl.id ~...Q.£ì.vd Ctl\J (or proved to me on the basis of satisfactory evidence) to be the person (s) whose name (s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity (ies), and that by his/her/their signature (s) on the instrument the person (s) or the entity upon behalf of which the person (s) acted, executed the instrument. '- ~J1M\oJt C1rm»illfJ WITNESS my hand and official seal. TERESA K. ANDERSON - NOTARY PUBLIC County of State of Lincoln Wyoming My Commission Expires September 22, 2011 Loan No: 129645354 Signature Addendum to Deed of TrustiMortgage -THE COMPLIANCE SOURCE,lNC.- www.compliancesource.com Page 2 of2 IIIIIIIIII1 illl~llllll~ III~ III"III~ ~~ 1II1~!lm 53656MU 3/01 0200 I, The Compliance Source, Inc. BARCODE û00153 Loan No: 129645354 MIN: 100055401296453543 REVOCABLE TRUST RIDER DEFINITIONS USED IN THIS RIDER (A) "Revocable TnlSt." The The Penrod Revocable Family Trust Trust created under trust instrurœnt date June 1, 2008, for the benefit of stanley Floyd Penrod and Josephine Ella Penrod. (B) "Revocable Trust Trustees," stanley Floyd Penrod and Josephine Ella Penrod trustee(s) of the Revocable Trust. (e) "Revocable Trust Settlor(s)." stanley Floyd Penrod and Josephine Ella Penrod settlor(s) ofthe Revocable Trust signing below. (D) "Lender." IndyMac Federal Bank, FSB, a federally chartered savings bank (E) "Security Instrument." The mortgage, deed of trust or security deed and any riders thereto of the same date as this Rider given to secure the Note to the Lender of the same date and covering the Propel1y (as defmed below). (F) "Property." The property described in the Security Instrument and located at: 249 North street, Grover, WY 83122 [Property Address] THIS REVOCABLE TRUST RIDER is made this 9th day of March, 2009 and is incorporated into and shall be deemed to an1end and supplement the Security Instrument. Revocable Trust Rider (Multlstate) -'DIE COMPLIANCE SOURCE,INC.- www.complìanœlource.oom Page 1 of3 14S06MU 06/98 Rov. 03101 02003, n. Compliance Sou.....1n.. 1111~illllm~I~I~II~lIlœ mmlomm ÜOô:154 ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, the Revocable Trust Trustee(s), the Revocable Trust Settlor(s) and the Lender further covenant and agree as follows: ADDITIONAL BORROWER(S). The tenn "Borrower" when used in the Security Instrument shall refer to the Revocable Trust Trustee(s), the Revocable Trust Settlor(s), and the Revocable Trust, jointly and severally. Each party signing this Rider below (whether by accepting and agreeing to the tenns and covenants contained herein or by acknowledging all of the tenns and covenants contained herein and agreeing to be bound thereby, or both) covenants and agrees that, whether or not such party is named as "Borrower" on the first page of the Security Instnlment. eacb covenant and agreement and undertaking of the "Borrower" in the Security Instrument shall be such party's covenant and agreement and undertaking as "Borrower" and shall be enforceable by the Lender as if such party were named as "Borrower" in the Security Instrument. BY SIGNING BELOW, the Revocable Trust Trustee(s) accepts and agrees to the terms and covenants contained in tbis Revocable Trust Rider. ~ - ~~ ~........- 1 .. / J .-.-.-..p-q .. /'. ~. \. .... j....... /././ ... ~.....' /: j ..r....·- ,/ i / r /: ,,// ,/' y./,/ ,/., Il . -___ :.un ~ "'-I /J¿ ~~E.-''''''zaiZ<~-4 ~"-/I-----~' yIP / ,;:> 'Josephine Ella Penrod . Trustee of the The Penrod Revocable Family Trust, under trust instrument dated June I, 2008, for the benefit of Stanley Floyd Penrod and Josephine Ella Penrod. Trustee of the The Penrod Revocable Family Trust, under trust instrument dated June I, 2008, for the benefit of Stanley Floyd Penrod and Josephine Ella Penrod. Loan No: 129645354 Reyocllble Trust Rider (Multistate) -THE COMPLIANCE SOURCE, INC.- www.coQ1JlianÇCIowce.com fllge20fJ l4504ôMV KM 1Iov. 0JIt2 !nOOJ. Tho compl....... s........ In.. IlumlllllllDIWWIß 00&155 BY SIGNING BELOW, the undersigned Revocable Trust Settlor(s) acknowledges all of the tenns and covenants contained in this Revocable Trust Rider and agrees to be bound thereby, ,./?- ,/] ~~~ ... ':." ( /.:>-'~' ¿;/,/ /' Æ~-/ ' '"'^'--..~'J.~~... »<?-;;z.-71..:;;Z:¿.¿~Lc;;;;:J-/Z/'â~_9-:;?-/ ~'_.,-..,',., Jos'éphine Ell a Penrod "'" " Loan No: 129645354 Revocable TrultRlder (Muldstate) -THE COMPLIANCE SoVRCE, INc.- www......,I......""""'...m Page 3 of3 U506M11 _ Rev, 031411 0200]. The COO1 Iiianco So""",, Inc. IIUIOllIIIllIOlool1 .-----... .. ...--- ......- Ø00156 AFFIDAVIT REGARDING REVOCABLE TRUST (With Amendment To Trust, If Applicable) Borrower(s): stanley Floyd. Penrod and Josephine Ella Penrod Property: 249 North street, Grover, WY 83122 Words used in this Affidavit are defined below, Words in the singular mean and include the plural and vice versa. "Borrower" is stanley Floyd Penrod and Josephine Ella Penrod "Lender" is IndyMac Federal Bank, FSB, a federally chartered savings bank , and its successors or assigns. "Note" means the promissory note(s) dated favor of Lender. March 9, 2009 , signed by Borrower in "Property" means the property commonly known as 249 North street, Grover, WY 83122 in which title is or will be held in the name of the Trust. "Security Instrumenf' means the Deed of Thust/MortgagdSecurity Deed/Security Instrument signed by Borrower in favor of Lender, securing payment of the Note. "Settlor" is the person or persons who created and established the Trust. "Trusf' means the trust evidenced in the trust instrument known as 'I11e Penrod Revocable Farnil y Trust, June I, 2008 "Trustee" is the person, persons or entity named in the Trust document as having the power and authority to act on behalf of the Trust. Before me, the undersigned on this day personally appeared Settlor and Trustee, known to me to be the person whose name is subscribed below and after being duly sworn by me did each on his or her oath state the following: Loan No: 129645354 Affidavit Regarding Revocable 'lì'ust (with Amendment to Trost, If appücabLe) Tbe Compliance Source. Inc. Page 1 of 4 www.compüaocesource.com CLosing 06310MU 08199 Rev. 01/08 iCJl999, The Compliance Source.1nc. 111~IIIIIIIIUlllmln If there is any discrepancy between the following represented matters and the actual terms of the Trust, then to the extent of the discrepancy, by execution of this Affidavit, the Trust is hereby amended to be consistent with the following representations. Settlor and Trustee have the authority to make this Affidavit (and amendment, if applicable) to the Trust: l~)Ov1.57 1) The Trust is an inter vivos revocable trus~. 2) Holding title to the Property in the Trust does not or win not in any way diminish Lender's rights as a creditor, including the right to have full title to the Property vcstcd in Lender if foreclosure proceedings have to be initiated to cure a default under the terms of the mortgage. 3) The Trust has been established by a written document during the Settlor's lifetime, to be effective during the Settlor's lifetime. 4) The Thust is one in which the Settlor has rese1Ved the right to revoke the Trust during the Settlor's Ii fetime. 5) The primary beneficiary(ies) oftbe Trust is the Settlor. 6) The income or assets of at least one Settlor were used to qualify for the mortgage and that Settlor will occupy the Property and sign the Note and Security Instrument. 7) The Thust document names one or more Trustees to bold legal title to, and manage, the Property. 8) The Trustee is either the Settlor (or at least one of the SdUlors, if there is more than one) or an institutional trustee that customarily perfonns trust functions in (and is authorized to act as Trustee under the laws of) the relevant state. 9) The 1ì'ustee has the power to mortgage the Property for the purpose of securing a loan to Borrower under the Note, without the requirement of notice being given to or permission obtained from any person or entity. 10) The Property is a one-family to four-family principal residence, one-family second borne, or investment property. 11) Full title to the Property is to be vested solely in the Thustee of tbe inter vivos revocable trust, jointly in the trustee oftbe inter vivos revocablc trust and in the name(s) of an individual Borrower, or in the Trustee of more than one inter vivos revocable trust. 12) The Trust has not been revoked, modified or amended in any manner wbich would cause the representation contained Ùl this Affidavit to be incorrect 13) This Affidavit is being signed by the Settlor and all currently acting Trustees of the Trust. 14) The Thust is in full force and effect, and those who created, granted or established the Trust are alive. Loan No: 129645354 Affidavit Regarding Revocable Trust (with Amendment to Trust. if applicable) TIle CompUance Soun:e.lnt. Page :z of 4 www.tompliance..ource.com Closing 06310MU 0819\1 Rev. 01/08 ea",. TIle Compliance Source. IDe. 1IIIIIIIDlllllmœllll - ----- This Affidavit is being executed with the understanding that it may be relied upon by any third party transacting business with the Trust, including, but not limited to, any lender, title insurer, and successor or assigns of any lender or title insurer. Lender has no duty to see to the disposition of the loan funds. (Settlor) 00&158 ,-:-- Trustee of the The Penrod Revocable Family Trust, under trust instrument dated June 1, 2008, for the benefit of Stanley Floyd Penrod and Josephine Ella Penrod. / /=J---~ //,.~ ~,.//7 '7 "........~.") ,. ,,' .. '/ .-~7/·/ . _.J \ / . ' /.." ~»/ §' ~ . / / á ~-:~ c:./' /7 "-/: '77-- .<~~~~;~ ~-6~,-:;: é___""Yð._~..... -,;-':::;L~.;:?;f~&é'Wt;/~';.>..~.~~ __-ç;z...~~ C,/ Josephine Ella Penrod -(Settfuf Josephine Ella Penrcx1. (Trustee) Trustee of the The Penrod Revocable Family Trust, under trust instrument dated June 1, 2008, for the benefit of Stanley Floyd Penrod and Josephine Ella Penrod. (Settlor) (Trustee) (Settlor) (Trustee) {Jurat on Fol/owing Page] Loan No: 129645354 Affidavit Regarding Revocable Trust (wltb Amendment to Trust, If app¡¡~able) The Compliance Source, Inc. PlIge 3 of 4 www.compUancesource.com (;losing 06310MU 081Y9 Rev. 01/08 «.?1999, The Compliance Source, IDe. IIOO0lllmllll01111 TERES/~ ¡(, ANDERSON - NOTARY PUBLIC County of State of Lincoln Wyoming My , Isslon Expires September 22, 2011 State of {J~0ìUì 7t ~ County of 'ðrG~ § SUBSCRIBED AND SWORN to before me on rn::vt cJrl. q ~NÙ .ord.o.hOOì Signature of Officer , ~1~~\C' My Commission Expires: &p} a~ / @ 0 I I v1;rOG1.59 .~ooq ., "'~!"'" Loan No: 129645354 Amdavit Regarding Revocable fiust (lI'ith Amendment to Trust, If applicable) The CompUncl! Soum, Inc. Page 4 of 4 www.compUancesource.com Clo.lng 06JI0MU 08f!19 Rev. 01108 01999, The CODlpllaßl;e Source, loe. IllmlllDllœllmml HICAGO TITLE INSURANCE COMPANY AS ISSUING AGENT 1-800-943-1196 Title No NRE-NRR- T008073589 LEGAL DESCRIPTION EXHIBIT "A" 00&160 THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF Lincoln, STATE OF Wyoming, AND IS DESCRIBED AS FOLLOWS: A TRACT OF LAND LYING IN THE SOUTH HALF OF THE SOUTHWEST QUARTER (S 1/2 SW 1/4) OF SECTION THIRTY-THREE (33), TOWNSHIP THIRTY-THREE (33) NORTH, RANGE 118 WEST OF THE 6TH P.M., WYOMING, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHICH IS NORTH 89 DEGREES 57' EAST, 1253.02 FEET FROM A POINT IDENTIFIED BY TWO (2) WIlliESS CORNERS AS BEING THE SOUTHWEST CORNER OF SAID SECTION THIRTY-THREE (33), AND PROCEEDING THENCE NORTH 0 DEGREES 03' WEST, 252.50 FEET; THENCE NORTH 89 DEGREES 57' EAST, 233.87 FEET; THENCE SOUTH 1 DEGREES 17' WEST, 103.00 FEET; THENCE SOUTH 28 DEGREES 32' WEST, 170.28 FEET; THENCE SOUTH 89 DEGREES 57' WEST, 150.00 FEET TO THE POINT OF BEGINNING, SAID TRACT CONTAINING 1.20 ACRES, MORE OR LESS. TAX ID: 12-3318-33-03-00-007.00 ,/ t/ .//' Commonly known as 249 NORTH Street, Grover, WY 83122 However, by showing this address no additional coverage is provided ~III" "'" 11/111111111 -U00543442if. 2442 3/19/2009 75537530/1