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HomeMy WebLinkAbout947939Return To: 1detLi£e Hort►e Loans - POST CLOG MAIL RM 1555 W walnut Kill Ln #200 MC 6712 1xving, TX 75036 Prepared By: NotLife Home Loans, a Divigioa of MetLife Bank, N.A. 420 S 4th Avenue Pocatello, ID 83201 RECEIVED 6/23/2009 at 4:43 PM RECEIVING # 947939 BOOK: 726 PAGE: 112 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY D00112 DEFINITIONS [Space Above Ills Line For Recording Data] MORTGAGE 007177.4194 MIN 100749500717741949 Words used in multiple sections of this document an defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rWas. regarding the usage of words used in this document are also provided in Section 16. ` (A) "Security hstrument" means this document, which is datod Tune 22nd, 2009 , u together with all Riders to this document, (B) "Borrower" is B THOMAS BARNES & AATHL9131f V BARNES, Husl7and & Wife Borrower is the mortgagor antler. this Security Instrument. (C) "MERE" is Mortgage Bleetronic Registration Systems, Inc. MFRS is a separate corporation that is acting. solely as a nominee. for Lender and Lender's successors send assigns. MERS is the mortgagoe under this Security IastrumauL MFRS is organized and, existing under the laws of Delaware, and has an address and telephone number of P.0. Box 2026, Flint,. MI 49501-2026, tel. (888) 674-MFRS. VMWYOMING - $Ingle Fnmly • Fannlo Mae/Freddle Mao UNIPORM INSTRUMENT VATN MER8 1! Form ~Wy7 X61 1101 Waller Kluwer Flnanolai Bervlees Inllleh "'7~1 Psg~ e0j af00C Jan 22 2004 3:30 (D) "Lender" is MetLii:e Rome Loans, . a Di+rsaioz► of MetLife taank, N.A. Leuder.b a WrION" SANK organized and existing under the lawn of THE UNIT$D STATES OF AMRZCA Leader's address is' 4000 HORIZON WAY, =RVINO, TEAS 79063 TO "Note" means the promissory note signed by Borrower and dated June 22nd, 2 009 The Note states that aarrower owes bender TWO HU] 921) EIGHTY VXVE THOUSAND a 00/100 Dollars (U.S. $ 285, 000.00 ) plus interest, Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later tban OTMY Z, 2039 M VrOperty" means the property that A 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 gums 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]; 0 Adjustable Rate Rider Condominium Rider Second Ham Rider F7 Balloon Rider Planned Unit Development Bider x 1.4 Family Rider ED VA Rider Biweekly Payment Rider Other(s) [specify] M "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. (,n "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condontinim association, homeowners association or similar organization. W "Electronic Funds Transfer" meats any transfer of finds, 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 an to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, poizvof-sale transfers, 'automated teller machine trans0e00ra, transfers ittitlated by telephone, wire transfers, and automated clearinghouse transfers. Q "Escrow Items" means those items that are described in Section 3. (141) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for. (i) damage to, or destruction of, the Property; (ii)' condemnation or other taking of all or arty part of the Property; (iii) conveyance in lieu of condemnation; or (iv) iaisrepresen.ations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (G) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (it) any amounts under Section 3 of this Security Insh m ant. 0071774194 Wy lNd -$Jhele FQr* • Pawls Mee/FWdfo Mac UNIFORM INSTRUMENT WITH M 38 ro,m W61 tNt MUM Kl4worFlnonolalServices Inlllek: ~ / VMPBA(WY)toBOe).a0 i+ege 2 of 10 093 ~1001.14 M "A" moans the Real Estate Settlement Procedures Act (12 U.S.C. Section 2602 at seq,) and its implementing regulation, Regulation X (24 C.F.R. Pan 3500), as they might be amended from time to time, or airy additional or successor legislation or regulation flat governs the same subject matter. As used in ties Security Instrument, "R'ESPA" refers to all regWwmenU and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA, . (Q.) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligatians under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extemians and modifications of the Note; and (ii) the performance of Borrower's cavena= and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in • the Country of • Lincoln [Typo of Recording Jurisdiction] [Name of Recording 7urbdictionj LOT 23 OF TRAIL RXbQE SUBDIVISION, LYt;ICOLN COUNTY, W%0xjN6 ACCORDING TO TEAT FLAT FILED OCTONZR 21, 2003 IN Tt3$ OFFICE OF THE LINCOLN COUNTY CL9XX AS FLAT NO. 225-Y Parcel lD Number; County : 12 - 3 619 -10 - 4.00.4 2 5.0 0 City, which currently has the address of 405 BUFFALO DRIVE [Stmt) ALPINE [City] , Wyoming ("Property Address"): 83128 flip Coda] TOGETHM WITH all the impmvements now or hereafter erected on the property, and on easements, appurtenances, and fixtures now or hereafter a part of the property, All replacements and additions shall also be revered by this Security Instrument. All of the f rregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees flat MGRS holds only legal title to the interests granted by Borrower in this Security Instrument, but, •d necessary to comply with law or custom, IVMRS (as nominee for Lou* and Lender's successors and assigns) has the right; to exercise any or all of those interests, including, 0071774194 W FQMIING • Blnvia Family • Fannie Mme/Frvddle Moa UNIFORM INSTRUMENT WITH MERE Farm 30111 1/41 vYoAvn Klvww Financiai Saivioas ,~(/~~V~MPea(wy){o8pp~ f I Infl)dv:L~~-`~~ Fogs 3 0l 0 Jan 22 2004 3:30 093 r9 i15 but not limited to, the right to foreclose and.sell the'Property; and to take any action required of Lender including, but not IhWted to, releasing and canceling this Security Imtrument. BORROWER COVENANTS dat.Borrower ia.lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally. the title to the Property against all claims and demands, subject to any encumbrances of record, TINS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifomt covenants with limited variations by jurisdiction to constitute a uniform security instrument covo tg real property. UNIFORM COVENANTS. Borrower and Lander covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Item, Prepayment Charges, and Late Charges. Borrower iW pay when due the prunipal of, and interest on, the debt evidenced by the Note and any prepayment charges and late oharges due under the Note, Borrower shall also pay fiords 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, bender 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 farms, as selected by Lender: (a) cash; (b) money order; (e) 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 lr. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lendor way accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its• rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled duo data, then Len&r need not pay interest on =applied funds. Lender may hold such unapplied funds until Borrower makes payment to brlrtg 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 claiau which Borrower might have now or in the future against Lander shall. relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument, 2. Application of Payments or Proceeds. Except•as otherwise desen'bed in this erection 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 raider this Security. Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for it delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied W the delinquent payment and the late charge. If more than one periodic payment: is outstanding, Lender may apply any payment received from Borrower to the repayment; of the Periodic Payments if, and to the extent that, each payment can be paid in M. To the extent that any excess exists slur the payment is applied to the fW1 payment of one or more WYOMING . Single Fsmlly • Famis Maeftddla Mac UNIFORM INSTRUMENT WITH MERS =11 I I Nan JP KUmvar Flnnnofal sarvlavo Inltlala: P page 4 o(10 Periodic Payments, such excess may be applied to any. IM charges due. Voluntary prepayments shall be applied first to any prepayment charges and chart 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, Ftmd9 for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note la 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 S; and (d) Mortgage Insurance premiums, if any, or any stuns payable, by Borrower - to Lender in lieu of the payment of Mortgage Insurance promituns 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, Peas, 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 Tender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as'the phrase 'covenant and agreement' is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights uuder Section 4 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 it 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 aril hold Funds in an amount (a) sufficient to permit Lender to apply the Funda 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 doe an the basis of curnrout data and reasonable estimates of expenditures of fhttre Bscrow Items or otherwise in accordance with Applicable Law. The Fonds shall be held in an institution whose deposits are insured by a federal agency, instrwuentaIity, or entity ((including Lender, if Lender is an instiNtion whose deposits are so insured) or in any Federal Home Loan Bank. Lander shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Burrower for holding and applying the Fur*, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law pennita Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds, Borrower and Lender can agree In writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA, If there is a surplus of funds held in escrow, as defined under RE3SPA, Lender shall account to Borrower for the excess fiords 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 WYOMING - GInpls Family - Fanryb MaWroddle Mao UNIFORM INSTRUMENT WITH MER$ Fotm3061 1N1 VMP POAn 0f 5 00 W911om Kluwer Flnanolal Satrloa. inltlnier~ Pops Jan 22 2004 3:30 Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If tgers is a deficiency of funds held iu escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Tender the amount necessary to make up the' deficiency in accordance with RESPA, but in no more than 12 mombly payments. Upon payment in full of all sums secured by thin Security Instrument, Len4r shall promptly refund to Borrowei any Funds held by Lender. 4.. Charges; lAens. 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 Comtauttity 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 rnatmer acceptable to Lander, but only so long as Borrower is perflarnting such agreement; (b) contests t4s lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Leudior's opinion operate to prevent the enforcement of the lion while those proceedings are pending, but only until such proceadings are concluded; or (c) secures from the holder of the lion an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower it notice identifying the lien. Within IR days of the We on which that notice is given, Borrower shall satisfy the lion 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 fnr a real estate tax verification and/or reporting service used by Lender in cormogdon with this loan. S. Property Insursutee. 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, fnr 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 seuwtrces 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, bender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge far flood zone determination, certification and tracking services; or (b) a'one-time charge for flood zone determination and certiiicatirm services and subsequent charges each Limo remappiugs 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 to connection with the review of any' flood zone determination resulting from an objection by 13orrawar. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage,' at Lender's option and Borrower's expense. Lander is under no obligation to purchase any particular type or. amount of coverage. Therefore, such coverage shall Cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or. lesser coverage than was previously in effect. Borrower acknowledges, that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. AM amounts disbursed by Lender under this Section 3 shall become additional debt of Borrower secured by this SeCmity Instrument. These amounts shall bear interest at the Noto rate from the slate of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. 993 W VMP Y ®ING -Single Family. Kangle MAO/PMddla Mag UNIFORM INSTAUMENT WITH Mrm$ pm,r 1 flat Wafters Mum FlnapelAl Setylo". ~ FBA(W (0900).OQ • Inltlole__hn ape d of ib r 00118 All insurance policies required by Lender and renewals of such policies shall be "out 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 cer0cates, If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal ttafiees. 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 sha11 name Lender as mortgages 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 Leader and Borrower otherwise agree is 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 bender's security is not lessened. During such repair stud restoration period, Lender shall have the right to hold such i murance proceeds ud l 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. Lander 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 Inshumetit, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided fur in Section 2. If Borrower abandons the Property, Lender may tile, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within SO days to a notice from Lander that rho insurance carrier has offered to settle a claim, than Lender -tray negotiate and settle the claim. The 30-day period will begin when the notice is given, In either event, or if Leader 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' pramiu ms 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 00 days afmr the execution of this Security. Instrumwnt and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extemmm#4 circmmtances exist which are beyond Borrower's control. 7. Preservation, Maintenance and protection of the Property;. Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste out the Property. Whether or not Borrower is residing in the property, Borrower shall maintain the property in order to prove* the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pwauant to Section 5 that repair. or restoration is not economically feasible, Borrower, shall promptly repair the Property if damaged to avoid further deterioradon 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 WYOMING • 84nglo Family . Fannla Ma@Mreddb Mao UNIFORM INSTRUMENT WITH MERE Farm 3051 YMP t/Gl VN~a4(YVY)(060e 00 Wolfam rvKlwverFlnanalal5errlooa Inltlala: ~ a8e7o119 Jan 22 2004 3:30 093 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, 1orrower is not relieved of Borrower's obligation for the completion of inch 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 speoify* such reasonable cause. 8. Borrower's I,oan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan, Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal resideaoe, 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perfbnn the covenants and agreements contained in this Security Instrument. (b) there is a legal proceeding that might signiflmdy affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condetnnatlon or forfeiture, for enforcement of a lion which may attain priority over this Security Instrument or to eufarce laws or regulations), or (o) Borrower has abandoned the property, then Lauder 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 alien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous corAtions, 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 nbt taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest.at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Tender to Borrower requesting payment. If this Security Instrument is an a leasehold, Borrower &W amply with all the provisions of the lease. If Borrower acquires fee title to the Property, the loasehold and the to title shall not merge unless Louder agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as it 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 bender ceases to be available from the mortgage insurer that previously provided such insurauuce 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 ha eiiect, at a cost substantially equivalent to the cost: to Borrower of the Mortgage Insuramb previously in effect, from an alternate mortgage insurer VMR MI G • Single Family • Fannie MaelFreddle Mae UNIFORM INSTRUMENT WITH MEM 1101 WoRere Kluwer Financial Services ~VMPUAtiNMf (oeg8~.0o Infllala: Pepe a of 10 selected by Lender. If substantially equivalent Mortgage insurance coverage is not available, lorrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain tbeSe 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 shill 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 payment, 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. Imu nince ends in accordawe 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 aMuts Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is.not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terns and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage inswer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums), As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of We foregoing,' may receive (directly or indirectly) amounts that derive from (or might be characterized iu) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgagee insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lander takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reft=ance." 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 Una. Such agreements will not Increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refnmd. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage IH arance 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, Fotrfeitmre. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, arm 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 Leader 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 VMP WYOMING • Slnole Family . Fannie Idae/Fmddle Mee UNII`ORM INSTRUMENT WITH.MER9 Forth 3051 Vet Wanaro Klwrrar Mnnnulai eeMcae Inn kps: PL~t" ~,~2 ~ IWYAaI~1~ ye6al7t3 Jan 22 2004 3:30 093 agreement is mAde in writing or Applicable Law requires interest to be paid on each 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 Maw secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miacellawous 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 Inshmment, whether or not then due, with the excess, if any, paid to Borrower. Ila 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 taring, 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 fallowing fraotion. (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'faiur 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 or not the sums are then doe, If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in ft next sentence) o&rs. to make as award to settle -a. claim for damages, Borrower fails to respond to Lender within. 90 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 tbo third party that owes Borrower Miscellaneoua 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 Leader 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 conunence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payawnt or otherwise modify amortization WYOMIN13 . Singlo Family • Fannle MovNMddly Mac UNIFORM INSTRUMENT Wink MgRS WP a Fenn a05i trot vMPegM'Y)(oeuOgo Wolters Kluwer Flnanclol 9ervloee I rritlehr ~t pogo 10 W is A0i j12 of the sum secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in barest of Borrower. Any ftbearame by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments t}om third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due; shall not be a waiver of or preclude the exercise of any right or remedy, 13. Joint and Several LlabWty, Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several, However, any Borrower who co-signs this Security Instrument but does rot execute the Note (a "oo-signer"): (a) is co-signing this Security Instrument only to mortgage, gram ud convey the co-signer's interest in the property raider the terms of this Security Instrument; (b) is not personally obligated to pay ilea sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or mab 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 lotrument in writing and is approved by bender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released, from Borrower's obligations and liability under this Security Instrument unless Lender agrees tu 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 fens 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 kw 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 refnrnded to Borrower. Lender may choose to ma1w' this refund by reducing the principal owed under the Note or by .making it 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 it waiver of any tight of action Borrower right have arising out of such overcharge. 15. Notices. Allnotices given by Borrower or Lender in connection with this Security Instrimieut must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mall or when actually delivered to Borrower's notice address if sent by other means, Notice to any one Borrower shall constitute notice to allBorrowers 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 bender of Borrower's change of address. If Lender specifies it procedure for reporting Borrower's change 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 any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender V,OMINrx • ShvIe FOmly • Famnla Maa/Fraddlc Mao UNIFORM IN9TRuMENr WITH MERE Form awt 1/01 VMp WalleripKluwerFUanclal9eNkaB lnlllaf .2YTl Pegt"(0e00),OD yD~' Faga 1101 11 Jan 22 2004 3:30 193 C-00123 has designated another address by notice to 13orrowor, Any notice n. 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 ir, also required under Applicable Low, tbr, Applicable Law requirement will satisfy the corresponding regdirement'undeer this Seou dty InsRUment. 16. Cover sting Law; Severability; Rules of Construction. This Security Instrument shall be governed by tbderal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this security Instrutent are subject to any requirements and litnitations of Applicable Law. Applicable Law night explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed' as a prohibition' against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given emot 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. IS.. 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 latereat in the Property is sold or transferred (or if lorrower 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 alias]] provide a period of not less than 34 days from the date the notice is given in accordance with Section 15 within which Borrower most pay all sums secured by this Security Instrument, If Borrower ails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After 'Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security imtru menu discontinued at any time prior to the earliest of; '(a) five days before sale of the Property pursuant to any power of sale contained its this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Inshuuttent. Those conditions are that Borrower: (a) pays Lender, all sums which then would be due under this Security Instrument and the Note as of 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 attorneys' fines, 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 Itwtivmnt and (d) to ws such action as Lender may reasonably require to assure that Lender's interest its the Property and rights under this Security Instrument, ad Borrower's obligation to pay the sums secured by this Security Instrument, shall continue u nrhanged, Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender. (a) cash; (b) money order; (c) Certified cheek, bank check, treasurer's check or W VMP YOMING - Ongle Family - Fannie Ma0raddle Mao UNIFORM INSTRUMENT WITH MERE Form 8041 1191 ~p~ V POA(WY1(0800).00 Woliore Kluwer Financial Services 1nI11Ak7~ " Pape 1z vl 10 012 cashier's check, provided any such check is drawn upon an institution whose deposits are itwnd by a federal agency, instrumentality or entity; or (d) Electronic. Funds Transfier. Upon reinstatement by Borrower, this security Imtruutont and obligations secured hereby shall renoain My effective as if tw 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) cau be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic payments due under the Note and this Security Instrument and paMrms 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 it 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 sad address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of traw*r of servicing. If the Nate 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 Loau 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 oommenee, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other panty's actions pursuant to this Security. lnstnnent 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 cartal3a action can be taken, that time period will be deemed to be reasonable fur purposes of this paragraph. The notice of accelerations 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) 'Razardous 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 whore 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 "rf nvirontnental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, ulae, 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-au Ruvironmental 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 precading 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), WYOMING • SIngly Family , Fannie MnetFrvddle Mae UNI"M INSTRUMENT WITH MER5 Form scat 1N1 Watte,e Kluwer Flnar>Cial Services 10 111A v~+U ~IYefpet~ 81.110 1 a Jan 22 2004 3:30 D93 C0oV"125 Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any govermmrital or regulatory agency or private party involving the "arty and any Hazardous Substance or Enviromnental 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 my 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 temediation of any Hazardous Substance aMptiag the Property is necessary,. Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law, Nothing herein shall create airy obligation on Lender for an Environmental Cleanup. NON=UNWORM 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 infornx Borrower of the right to reinstate after acceleration and the right to bring a court action to inert the non-existence of a default or any other defense of Borrower. to acceleration and sale. u 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 farther demand and may Involve the power of sale and any other remedi.w 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 coats of title evidence. If Lender invoko the power of sale, Lender shall give notice of Intent to foreclose to Borrower and to the person In possession of the Prop", if different, In accordance with Applicable Law. Lender shall give notice of the'sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall he 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: (at) 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, Lander shall release this Security Itt t=rnt, Borrower shall pay any recordation costa. Lender may charge Burrower it 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 bomestoad exemption laws of Wyomlrtg, 0071774194 WYOMING • 61*9 Family • Fannie MaWretltlle Mao UNIFORM INSTRUMENT. WITH MMA Form 30611/01 WoP ® eAM/1 ] Wa44100 Wollma Kluwer Flnanclal services Inltlala Page 14 of 10 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security lnaMMent and in any Rider excuuted by Borrower aW recorded with it. Witnesses: -Harrower (Seal) -BorroWOr (Seal) -Burrower (Seal) B THOMAS aARN$S -Borrower '~~-1-~'~ (Sea2) TiLEBN Y HA'R = -Borrower (Seal) Borruwor (Seal) -Borrower -(Sea]) -Borrower 0072774194 WYOMING - 81nale Femly • Fonnle Mea/Froddle Mae UNIFORM INSTRUMENT WITH MERE Form 9031 1101 WdronKlwvxFIna IlolprSorvlava -~ejj" P3A(WY)(09011),09 lnidala: Page 16 of 13 f' Lk STATE OP`i;, This instrument was ai tlowledged before me on by S THOMAS BARNES & KATHLEEN V BARNES My Comnrission Expires; 7 -61C~ Notary Fublio Title (and Rank) Jan 22 2004 3:30 093 00' 12 7 County so, "&11L *.e CHARLES J. STUART III i► NOTARY PUBLIC - STATE of UTAH 4 360 E. CENTER, STE 10 '+r PR0V0, UTAH 64606 COMM. E)PRES 1.6.2009 0071774194 WYOMING • Bingly Famlly - Fannie MavlFraddia Moe UNIFORM INSITRUMENT•WITH MER$ Form coal 1101 VMP 0 r(~..~- VMF9A Oaa Wuhrv Kluwvr Financial Sowloix innlaivt a--V. 1Soofie 1-4 FAMILY RIFER (Assignment of Rents) THIS 1.4 FAMILY RIDER is made this 22nd day of June, 2 aoR and is incorporated Into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the, "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to XstLife Home Loans, a'Division of XetLife Bank, N.A. (the "Lender') of the same date and covering the Property described in the Security Instrument and located at 455 BUFFALO DRIVE, ALPINE, Wyominq 83128 (Property Address] 1.4 FAMILY COVENANTS. In addition to the covenants and agreements made In the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADDITIONAL PROPERTY SU13JECT TO THE SECURITY INSTRUMENT. In addition to the Property described In the Security Instrument, the following items now or hereafter attached to the Property to the extent they are fixtures are added to the Property descrtptlon, and shall also constitute the Property covered by the Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located In, on, or used, or Intended to be used in connection with the Property, Including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity, gas, water, air and' light, fire prevention and extinguishing apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, waahers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling and attached floor coverings, all of which, Including replacements and additions thereto', shall be deemed to be and remain a part of the Property covered by the Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to In this 1.4 Family Rider and the Security Instrument as the "Property," B. USE OF PROPERTY; COMPLIANCE WITH LAW, Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classification, unless Lender has agreed In writing to the change. Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental body applicable to the Property. C. SUBORDINATE LIENS, Except as permitted by federal law, Borrower shall not allow any lien inferior to the Security Instrument to be perfected against the Property without Lender's prior written permission, 0. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for which insurance is required by Section 5, 0071774194 MULTISTATE 1- 4 FAMILY RIDER - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 31701101 ft-87R (0811) Page 1 of 3 Initialg:~S VMP Mortgage Solutions, Inc. (800)521-7281 Jan 22 2004 3:30 '093 E. uBORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted. F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section a concerning Borrower's occupancy of the Property is deleted, G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign to Lender all leases of the Property and all security. deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph •G, the word "lease" shall mean 'sublease" if the Security Instrument is on a leasehold. H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION, Borrower absolutely and unconditionally assigns and transfers to Lender all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shalt pay the Rents to Lender or ' Lender's agents. However, Borrower shall receive the Rents until: (1) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument, and (ip Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only. It Lender gives notice of default to Borrower: (1) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (IQ Lender shall be entitled to collect and receive all of the Rents of the Properly; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (lv) unless applicable ' law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first. to the costs of taking control . of and managing the Property and collecting the Rents, including, but not limited to, attorney's fees, receivers fees, premiums on receiver's bonds, repair and maintenance costs, Insurance premiums, taxes, assessments . and other charges on the Property, and then to the sums secured by the Security Instrument; (v) 'Lender, Lender's agents or any judlciall appointed receiver shall be liable to account for only those Rents actually received; and ~vi) Lender shall be entitled to have, a receiver appointed to take possession of and managge the Property and collect the Rents and profits derived from the Property without any showing a$ to the inadequacy of the Property as security. If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and of collecting the Rents any funds expended by Lender for such purposes shall become Indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. Borrower represents and warrants that Borrower has not, executed any prior assignment of the Rents and has not performed, and will not perform, any act that would prevent Lender from exercising its rights under this paragraph. Lender, or Lender's agents or a judicially, a pointed receiver, shall not be required to enter upon, take control of or maintain the Propeg before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs, Any application of Rents shall not cure or waive any default- or invalidate any other right Qr remedy of Lender. This assignment of Dents of the Property shall terminate when all the sums secured by the Security Instrument are paid in full. 0071774194 MULTISTATE 1- 4 FAMILY RIDER - Fannle Mae/Ptaddle Mac UNIFORM INSTRUMENT 0-0 dM-57A (0811) Page 2 of 3 InftIalaA Fcnm 31701/01 I. CROSS-D9PAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security instrument and Lender may invoke any of the remedles permitted by the Security Instrument. BY SIMING BELOW, Borrower accepts and agrees to the terms and covenants contained in t##~iis 1-4 Family Rider. Tf--sue (Seal) (Seal) a WHOM ,s BARNES Borrower iCATHL88N V BARMr, -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower - (Seal) -Borrower - (Seal) -Borrower 0071774194 MULTISTATE 1.4 FAMILY RIDER - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 57R (0811) Page 3 of 3 Form 31701/01