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RECEIVED 6/22/2009 at 3:08 PM
RECEIVING # 947911
BOOK: 725 PAGE: 865
JEANNE WAGNER
Prepared By: LINCOLN COUNTY CLERK, KEMMERER, WY
U 0 9$65
[Space Above T169 Line For Recording Data]
PHA Casio No,
State of Wyoming MORTGAGE
591-1108809 703
THIS MORTGAGE ("Security Instrument") is given on NNE 17, 2009
The Mortgagor is TIMOTHY MASTRUD AND CYNTHIA MASTRUD, HUSBAND AND WIFE
('Borrower"). This Security Instrument is given to WELLS FARGO BANK, N.A.
which is organized and existing under the laws of THE UNITED STATES , and
whose address is P • 0. BOX 11701, NEWARK, NJ 071014701
("Lender"). Borrower owes Lender the principal sum of
EIGHTY SEVEN THOUSAND EIGHTY SEVEN AND 00/100
Dollars (U.S. $ **********87r087.00).
This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides
for monthly payments, with the full debt, if not paid earlier, due and payable on JULY 01, 2024
. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the
Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums,
with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance
0107258308
FHA MoNatie • WY
VMP
Wolters Kluwer Financial Services
Revised ON
7f~R(WY, (0803j.00
Initials: PsOe 11 019
NMFL 0322 (WYFM) Rev 812008
of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower.
does hereby mortgage, grant and convey to the Lender with power of sale, the following described property located
in UINTA County, Wyoming:
LOT 14-L-3 OF ROLLING HILLS 1ST ADDITION TO THE TOWN OF
KEM[ERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL
PLAT FILED ON FEBRUARY 25, 1985 AS INSTRUMENT NO. 650749 OF THE
RECORDS OF THE LINCOLN COUNTY CLERK.
TAX STATEMENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, P.O. BOX 11701,
NEWARK, NJ 071014701
Parcel ID Number:
which has the address of 2003 DEL RIO DRIVE [Street]
KEMMERER [City], Wyoming 83101 [Zip Code] ("Property Address");
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
appuurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be
covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants fox national use and non-uniform covenants
with limited variations by jurisdiction to constitute a uniform security instrument covering real property.
Borrower and Lender covenant and agree as follows:
UNIFORM COVENANTS.
1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the prinoipal of, and
interest on, the debt evidenced by the Note and late charges due under the Note.
2. Monthly Payment of Faxes, Insurance and Other Charges. Borrower shall include m each monthly
payment, together with the principal and interest as set forth in the Note and any late charges, a suum for (a) taxes and
special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the
Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a
mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in
which such premium would have been required if Lender still held the Security Instrument, each monthly payment
shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary,
or (ii) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary,
in a reasonable amount to be determined by the Secretary. Except: for the monthly charge by the Secretary,, these
items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds."
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Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the
maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures
Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be
amended from time to time ("RESPA"), except that the cushion or reserve permitted by RESPA for unanticipated
disbursements or disbursements before the Borrower's payments are available in the account may not be based on
amounts due for the mortgage insurance premium.
If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA, Lender
shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds hold by Lender at any
time are not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to
make up the shortage as permitted by RESPA.
The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If
Borrower tenders to Lender the fiill payment of all such suns, Borrower's account shall be credited with the balance
remaining for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has
not become obligated to pay to the Secretary, and Lender shall promptly refund any excess fiends to Borrower.
Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be
credited with any balance remaining for all installments for items (a), (b), and (c).
3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the
Secretary instead of the monthly mortgage insurance premium;
Secon to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
insurance premiums, as required;
Third, to interest due under the Note;
Fourth, to amortization of the principal of the Note; and
Fifth to late charges due under the Note.
4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether
now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which
Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender
requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently
erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies
approved by Lender. The insurance policies and any renewals shall be held by Lender and shall include loss payable
clauses in favor of, and in a form acceptable to, Lender.
In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not
made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment
for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance
proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and
this Security Instrument, first to any delinquent amounts apphed in the order in paragraph 3, and then to prepayment
of principal, or (b) to the restoration or repair of the damaged Property. Any application of the proceeds to the
principal shall not extend or postpone the .due date of the monthly payments which are referred to in paragraph 2, or
change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding
indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes
the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the
purchaser.
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5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty
days after the execution of this Security Instrument (or within sixty days of a later sale or transfer of the Property)
and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of
occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless extenuating
circumstances exist which are beyond Borrower's control. Borrower shall notify Lender of any extenuating
circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the
Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant
or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or
abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave
materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material
information) in connection with the loan evidenced by the Note, including, but not limited to, representations
concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the
leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.
6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are
hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid
under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the .indebtedness
under the Note and this Security Instrument, first to any delinquent amounts apphed in the order provided in
paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or
postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such
payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this
Security Instrument shall be paid to the entity legally entitled thereto.
7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
governmental or municipal charges, tines and impositions that are not included in paragraph 2. Borrower shall pay
these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts
evidencing these payments.
If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other
covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly
affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.
Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be
secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate,
and at the option of Lender, shall be immediately due and payable.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
(a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
of the Property is subjectto a lien which may attain priority over this Security Instrument, Leader may give Borrower
a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within
10 days of the giving of notice.
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8. Fees. Lender may collect fees and charges authorized by the Secretary.
9. Grounds for Acceleration of Debt.
(a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment
defaults, require immediate payment in full of all sums secured by this Security Instrument if-
(i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument
prior to or on the due date of the next monthly payment, or
(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained
in this Security Instrument.
(b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d)
of the Gam-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701]-3(d)) and with the prior
approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument
if.
(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold
or otherwise transferred (other than by devise or descent), and
(ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the
purchaser or grantee does so occupy the Property but his or her credit has not been approved in
accordance with the requirements of the Secretary.
(c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but
Lender does not require such payments, Lender does not waive its rights with respect to subsequent events.
(d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will lunit
Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not
paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations
of the Secretary.
(e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined
to be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender
may, at its option, require immediate payment in full of all sums secured by this Security Instrument. A
written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof,
declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such
ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the
unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the
Secretary.
10. ReiustatemenL Borrower has a right to be reinstated if Lender has required immediate payment in full
because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies
even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a
lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of
Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses
properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and
the obligations that it seoures shall remain in effect as if Lender had not required immediate payment in full.
However, Lender is not required to permit reinstatement if. (i) bender has accepted reinstatement after the
commencement of foreclosure proceedings within two years immediately preceding the commencement of a current
foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii)
reinstatement will adversely affect the priority of the lien created by this Security Instrument.
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11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or
modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in
interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend
time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any
demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising
any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements
of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the
provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who
co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to
mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b)
is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any
other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this
Security Instrument or the Note without that Borrower's consent.
13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or
by mailing it by first class mail unless applicable law requires use of another method. The notice shall be dirdeted to
the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be
given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower.
Any notice provided for in this Security Instrument shall be doomed to have been given to Borrower or Lender when
given as provided in this paragraph.
14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of
the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument
or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or
the Note which can be given effect without the conflicting provision. To this end the provisions of this Security
Instrument and the Note are declared to be severable.
15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security
Instrument.
16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release
of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything
affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to
the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally
recognized to be appropriate to normal residential uses and to maintenance of the Property.
Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action
by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental
or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is
necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous
substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic
petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the
jurisdiction where the Property is located that relate to health, safety or environmental protection.
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NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues
of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs
each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to
Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall . collect and
receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of
rents constitutes an absolute assignment and not an assignment for additional security only-
I£ Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as
trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be
entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents
due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would
prevent Lender from exercising its rights under this paragraph 17.
Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice
of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach.
Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This
assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full.
18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may
invoke the power of sale and any other remedies permitted by applicable law. Leader shall be entitled to collect
all expenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the
person in possession of the Property, if different, in accordance with applicable law. Lender shall give notice of
the sale to Borrower in the manner provided in paragraph 13. Lender shall publish the notice of sale, and the
Property shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the
Property at any sale. The proceeds of the sale shall be applied In the following order: (a) to all expenses of the
sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security
Instrument; and (c) any excess to the person or persons legally entitled to it.
If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires
immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale
provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by requesting
a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as
provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise
available to a Lender under this Paragraph 18 or applicable law.
19. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instrument without charge to Borrower. Borrower shall pay any recordation costs.
20. Waivers. Borrower waives all rights of homestead exemption m the Property and relinquishes all rights of
curtesy and dower in the Property.
21. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together
with this Security Instrument, the covenants of each such' rider shall be incorporated into and shall amend and
supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security
instrument. [Check applicable box(es)].
Condominium Rider Growing Equity Rider 0 Other [specify]
Planned Unit Development Rider ® Graduated Payment Rider
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BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in this Security Instrument and in
any ridor(s) executed by Borrower and recorded with it.
Witnesses:
(Seal)
TIMOT~EY STRUD -Borrower
(Seal)
-Borrower
-(Seal)
-Borrower
-(Seal)
-Borrower
_ (Seal)
-Borrower
-(Seal)
-Borrower
-(Seal)
-Borrower
(Seal)
C IA MASTRUD -Borrower
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CC'-873
STATE OF WYOMING,
'-~/f, County ss:
This instrument was acknowledged before me on JUNE 17TH, 2009
by TIMOTHY MASTRUD AND CYNTHIA MASTRUD
My Commission Expires: Q'~
Notary Pubho
LORI KALAN - NOTARY PUBLIC
COUNTY OF STATE OF
LINCOLN I WYOMING
My CommissiomExpires Feb. 26, 2011
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Record and Return [ ] by Mail [ ] by Pickup to.
WFHM FINAL DOGS X2599-024
405 SW 5TH STREET
DES MOINES IA 50309-4600
MANUFACTURED HOME RIDER TO SECURITY INSTRUMENT
This Rider is made this JUNE 17, 2009 , and Is incorporated Into and amends and
supplements the Mortgage, Open-End Mortgage, Deed of Trust, or Credit Line Deed of Trust,
Security Deed ("Security Instrument") of the same date given by the undersigned ("Borrower") to
_
secure Borrower's Note to WELLS FARGO BANK, N, A.
("Lender") of the same date
("Note") and covering the Property described in the Security Instrument and located at:
2003 DEL RIO DRIVE, KEMMERER, WY 83101
roper Address)
Borrower and Lender agree that the Security Instrument is amended and supplemented to read as
follows:
1, Meaning of Some Words. As used in this Rider, the term "Loan Documents" means the
Note, the Security Instrument and any Construction Loan Agreement, and the term
"Property", as that term is defined in the Security Instrument, Includes the "Manufactured
Home" described in paragraph 3 of this Rider. All terms defined in the Note or the Security
Instrument shall have the same meaning in this Rider
2 Purposeand Effect of Rider. IF THERE IS. A CONFLICT BETWEENTHE PROVISIONS IN THIS
RIDER AND THOSE IN THE SECURITY INSTRUMENT, THE PROVISIONS IN THIS RIDER
SHALL CONTROL. -THE CONFLICTING PROVISIONS IN THE SECURITY INSTRUMENT WILL
BE ELIMINATED OR MODIFIED AS MUCH AS IS NECESSARY TO MAKE ALL OF THE
CONFLICTING TERMS AGREE WITH THIS RIDER.
3 Lender'sSecurity Interest. All of Borrower's obligations secured by the Security Instrument
also shall be secured by the Manufactured Home.
USED 1997 ATLANTIC HOMES 8579 056 X027
New/Used Year anu ac urer s Name Model Name or Model No. Length x id
47978668579A 479786685798
e No. e a No ena No Serial No.
Page 1 of 4 Initial !f V \
NMFL #7109 (MAHR) Rev 214/2008
000` 8 5
4 Affixation. Borrower covenants and agrees;
(a) to affix the Manufactured Home to a permanent foundation on the Property;
(b) to comply with all Applicable Law regarding the affixation of the Manufactured Home
to the Property;
(c) upon Lender's request, to surrender the certificate of title to the Manufactured Home, if
surrender is permitted by Applicable Law, and to obtain the requisite governmental
approval and documentation necessary to classify the Manufactured Home as real
property under Applicable Law,
(d) that affixing the Manufactured Home to the Property does not violate any zoning laws or
other local requirements applicable to the Property,
(e) that the Manufactured Home will be, at all times and for all purposes, permanently affixed
to and part of the Property
5. Charges; Liens. Section 4, Paragraph 1 of the Security Instrument is amended to add a new
third sentence to read
Borrower shall promptly furnish to Lender all notices of amounts to be paid under this
paragraph and receipts evidencing the payments.
6, Property Insurance. Section 5, Paragraph 1 of the Security Instrument is amended to add a
new second sentence to read:
Whenever the Manufactured Home is transported on the highway, Borrower must
have trip insurance
7. Notices. The second sentence of Section 15 of the Security Instrument is amended by
Inserting the words "unless otherwise required by law" at the end.
6. AdditionalEvents of Default. Borrower will be in default under the Security Instrument:
(a) if any structure on the Property, including the Manufactured Home, shall be removed,
demolished, or substantially altered;
(b) if Borrower fails to comply with any requirement of Applicable Law (Lender, however,
may comply and add the expense to the principal balance Borrower owes to Lender); or
(c) if Borrower grants or permits any lien on the Property other than Lender's lien, or liens for
taxes and assessments that are not yet due and payable
9, Notice of Default. If required by Applicable Law, before using a remedy, Lender will send
Borrower any notice required by law, and wait for any cure period that the law may require
for that remedy.
10. Additional Rights of L.enderin Event of Foreclosureand Sale. In addition to those rights
granted In the Note and Security Instrument, Lender shall have the following rights in the
event Lender commences proceedings for the foreclosure and sale of the Property.
(a) At Lender's option, to the extent permitted by Applicable Law, Lender may elect to treat
the Manufactured Home as personal property ("Personal Property Collateral"). Lender
may repossess peacefully from the place where the Personal Property Collateral is located
without Borrower's permission Lender also may require Borrower to make the Personal
Property Collateral available to Lender at a place Lender designates that is reasonably
convenient to Lender and Borrower At Lender's option, to the extent permitted by
Applicable Law, Lender may detach and remove Personal Property Collateral from the
Property, or Lender may take possession of it and leave it on the Property. Borrower
agrees to cooperate with Lender if Lender exercises these rights,
(b) After Lender repossesses, Lender may sell the Personal Property Collateral and apply the
sale proceeds to Lender's reasonable repossession, repair, storage, and sale expenses,
and then toward any other amounts Borrower owes under the Loan Documents.
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NMFL # 7109 (MAHR) Rev 21412008
(30iAW
(c) In the event of any foreclosure sale, whether made by Trustee, or under judgment of a
court, all of the real and Personal Property Collateral may, at the option of Lender, be
sold as a whole or in parcels. It shall not be necessary to have present at the place of
such sale the Personal Property Collateral or any part thereof Lender, as well as Trustee
on Lender's behalf, shall have all the rights, remedies and recourse with respect to the
Personal Property Collateral afforded to a "Secured Party" by Applicable Law in addition
to, and not in limitation of, the other rights and recourse afforded Lender and/or Trustee
under the Security Instrument
By signing below, Borrower accepts and agrees to the terms and covenants contained in this Rider.
WITNESS my hand and seal this 7 da of Ems. epv 9
Z2 t, Borrower Borrower
TIMOTHY MASTRUD CYNTHIA MASTRUD
Borrower
Borrower
Borrower
Borrower
Borrower
Borrower
STATE OF its )
ss..
COUNTY OF 2~' )
On the day of ~Uq in the year ~7DD J
before me, the undersigned, a Notary Publip. Intend for said State, personally appeared
personally kAbwn to me or proved to me on t"9 asls of satisfactory evidence to be the individual(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 capacity(ies), and that by his/her/their signature(s)
on the instrument, the individual(s), or the person on behalf of which the individual(s) acted,
executed the in ent.
otary ignature Notary Printed Name
Notary Public, State of / Qualified in the County of
My Commission expires: D LORIKALAN - NOTARY PUBLIC
COUNTY OF STATE OF
Official Seal LINCOLN WYOMING
My Commission Expires Feb. 26, 2011.
Drafted By. t-L„<VR- T GXA-H-A- [ ] Check if Construction Loan
Loan Number: ota22sw;ng
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NMFL # 7109 (MAHR) Rev 21412008