HomeMy WebLinkAbout872758PREPARED BY
Karen Adams
RECORDING REQUESTED BY AND
WHEN RECORDED, MAIL TO:
SIOUX FALLS SERVICING CENTER
4909 East 26th Street,
Sioux Falls, SD 57110
Account Number: 940 -2- 390 433094
Morgan Stanley Dean Witter
Credit Corporation
WYOMING
MORTGAGE
DEFI NITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections
3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided
in Section 16.
(A) "Security Instrument" means this document, which is dated April 16, 2001, together with all Riders
to this document.
(B) "Borrower" is ROBERT E. KRONE and BARBARA J. KRONE. Borrower is the mortgagor under this
Security Instrument, with the Property Vesting /Relationship of
(C) "Lender" is Morgan Stanley Dean Witter Credit Corporation. Lender is a corporation organized and
existing under the laws of Delaware. Lender's address is 10681 Foothill Blvd. Suite 380 Rancho
Cucamonga, CA 91730. Lender is the mortgagee under this Security Instrument.
(D) "Note" means the promissory note signed by Borrower and dated April 16, 2001. The Note states that
Borrower owes Lender One Hundred Ten Thousand and 00/100 Dollars (U.S. $110,000.00) plus interest.
Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than
May 1, 2031.
(E) "Property" means the property that is described below under the heading "Transfer of Rights in the
Property."
(F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late
charges due under the Note, and all sums due under this Security Instrument, plus interest.
(G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicable]:
1
Condominium Rider Second Home Rider
1 -4 Family Rider
Planned Unit Development Rider
Trust Rider
572758
(Space Above This Line For Recording Data)
1 I
L "1 2 8
BOOK 4'V PAGE
Adjustable Rate Rider
Bridge Loan Rider
Other(s) [specify]
RECEIVED
LINCOLN COUNT? CLERK
W APR 20 Alin: 39
JEANNE ViAGNER
KEMMERER, WYOMING
(H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final,
non appealable judicial opinions.
(1) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and
other charges that are imposed on Borrower or the Property by a condominium association, homeowners
association or similar organization.
WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 1 of 12)
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Account Number: 940 -2- 390 433094
Instrument is returned to. Lender unpaid, Lender may require that any or all subsequent payments due under
the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender:
(a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any
such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or
entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at
such other location as may be designated by Lender in accordance with the notice provisions in Section 15.
Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring
the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current,
without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments
in the future, but Lender is not obligated to apply such payments at the time such payments are accepted.
If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on
unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan
current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds
or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance
under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the
future against Lender shall relieve Borrower from making payments due under the Note and this Security
Instrument or performing the covenants and agreements secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the
Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied
to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first
to late charges, second to any other amounts due under this Security Instrument, and then to reduce the
principal balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and
the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received
from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be
paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or
more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall
be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under
the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under
the Note, until the Note is paid in full, a sum (the "Funds to provide for payment of amounts due for: (a) taxes
and assessments and other items which can attain priority over this Security Instrument as a lien or
encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums
for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any
or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in
accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any
time during the term of the Loan, Lender may require that Community Association Dues, Fees, and
Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow
Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower
shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds
for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all
Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall
pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds
has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
within such time period as Lender may require. Borrower's obligation to make such payments and to provide
receipts shall for 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,
WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 3 of 12)
730
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Account Number: 940 -2- 390- 43094
subsequent charges each time remappings or similar changes occur which reasonably might affect such
determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the
Federal Emergency Management Agency in connection with the review of any flood zone determination
resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not
protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard
or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges
that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that
Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become
additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note
rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to
Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right
to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
and /or as an additional Toss payee. Lender shall have the right to hold the policies and renewal certificates.
If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.
If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
mortgagee and /or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing,
any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied
to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's
security is not lessened. During such repair and restoration period, Lender shall have the right to hold such
insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may
disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as
the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid
on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the
insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically
feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured
by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance
proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim
and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will
begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or
otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount
not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's
rights (other than the right to any refund or unearned premiums paid by Borrower) under all insurance policies
covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use
the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or
this Security Instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
exist which are beyond Borrower's control.
WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3051 1/01 (page 5 of 12)
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eq1 uegM anp eJOM leg1 sluew/(ed paleu6!sep Alaleaedes eql 1 lunowe eql aapuaq of iced of enuguoo
!legs aaMoaaog `algellene lou s! 96219noo aoueansul e6e6laow lualenInbe AIlelluelsgns /(q paloales
aaansu! a6e6laow elewalle ue wall 'page u! Alsno!naad aoueansul a6e6pool ayl 10 aaMoJJog of lsoo eql
of lualenlnbe /(peguelsgns lsoo ale 'page u! /(lsno!naad aoueansul e6e6laow eql of luelenmbe Allelluelsgns
a6eaanoo ulelgo of paalnbaa swn!waad ay} iced Heys JeMoaaog `aoueansul e6e6pow ao1 swn!weid ay} paeMol
sluewAed paleu6lsep i(laleaedes amew of peJ!nbaa seen aaMoaaog pue eoueinsu! Lions pep!noad /(lsno!neid
leig aaansu! e6e6pow NI wog algellene eq of seseeo aapuaq /(q paalnbaa a6eaanoo aoueansul e6e6pow eql
`uoseaa Aue ao1 `11 •pege u! aoueansul e6e6pow eq ulelulew o} pe nbaa swnlwaad ayl )(Bid Heys aaMoaaog
'Leo eql 6uplew 1O uolllpuoo a se aoueansul e6e6pow seJ!nbei aapuaq 11 •aoueansul e6e61a01,41 •pl.
•6ullpM u! ie6iew eql of seaa6e
aapuaq ssalun e6iew lou !legs egg eel eql pue ployaseal eq `fpedoad aql of egg eal seijnboe aaMOaaog 11
•eseal eql 10 suolslnoad eig Ile gllM /(ldwoo !legs JeMoaaog `ployaseal a uo s! luawnalsul *noes sigl 11
}uawi(ed
6ullsenbeJ aaMOaaog of aapuaq woal eollou uodn `lseJelu! qons yllM 'algeAed aq pegs pue luewasangslp
10 amp eql woal alai eloN eql lse a u! aeeq !legs slunowe esegl •luawnalsul Alpnoes sly!, Aq paanoas
aaMOaaog 10 lgep leuolllppe awooaq !legs 6 uolloe9 slgl aapun aapuaq Aq pasingslp slunowe /(uy
•6 uolloas sly} aapun pezpoglne suolloe Ile JO /cue i(l!!!ge!! ou sanoul aapuaq lein
paaa6e s! ll .os op of uolle6!1go ao /clnp Aue aapun lou s! pue os op of aneg lou seop aapuaq '6 uo!pes s!gl
aapun uolloe ej /dew aapuaq gbnoyllb' •110 ao uo pawn! sewn eneq pue 'suolllpuoo snoaa6uep JO suogeloln
epoo Jeglo ao 6 ulpllnq aleulw!!e `sedld woalaaleM uleap `sMopulM pue snoop do paeoq ao eoeldaa `smool e6uego
`si!edaa ejew of Alaadoad eql 6upalue `ol pallw!! lou s! lnq 'sepnlou! Auedoad eql 6upnoes •6ulpoeooad
Aoldnimueq a u! uolllsod paanoas sl! 6ulpnlou! 'luawnalsul /lpnoe sly1 aapun slg6p ao /pue Apedoad eql u!
lseJew! sl! loaload of seal. ,s/(auaolle algeuoseaa 6u!/ ed (o) pue :lanoo u! bupeedde (q) :luawnalsul *noes
slyi nano /(luopd seq 4 ue!I a Aq paanoas swns /cue 6u!Aed (e) :ol pellwll lou aae lnq `apnloul ueo suo!loe
s,iepue •Alaadoad eq1 6up!edaa ao /pue 6upnoes pue `Alaadoad 8L 1O amen ayl 6ulssesse Jo /pue 6ulloaload
6ulpnlou! 'luawnalsul Alpnoeg slgl aapun 416p pue /(laadoad ayl u! lselalu! sdapue loaload of aleladoadde
JO algeuoseaa s! aanalegM ao1 iced pue op /(ew aapuaq ueig 'Apedoad ayl peuopuege seq aannoaaog (o) JO
`(suolleln6aa ao sMe! eoaol.ue ol aoluewnalsul *noes slylaano /(lpopd u!elle yo!LiM ue!I a l.o lueweoaolue
Jot 'aanllalaol ao uolleuwapuoo ao1 `alegoad '/(oldnamueq u! 6u!peeooad a se Lions) luawnalsul Alpnoeg sly1
aapun slg6la ao /pue Apedoad ay; u! lseJelu! sdepue11oage,ilueolllu6ls 1y6lw ley! 6ulpeaooad le6ei a s! wail
(q) 'luawnalsul Alunoes slgl u! pauleluoo sweweej6e pue slueuenoo ayl 10 /cue waoped of sllel aaMoaaog
(e)1I •luawnalsul Allanoes sly! aapun sluBld pue AlJedoad ayl uI lseialul s,Jepuai to uo!13e oad '6
•aoueplseJ
Iedloupd s,aaMaaaog se Aledoad mg to /(ouedn000 s,aaMOaaog 6uluieouoo suollelueseideJ 'ol mum lou aae
lnq `apnlou! suollelueseJdaa ispeleol ueoq eql gIIM uolloauuoo u! (uollewaolu! lepalew u1!M aapuaq epinoid
of Hallel JO) aapuaq of sluewelels ao uollewaolu! eieanooeu! ao '6ulpeels!w `eslel AIM-1912W ene6 luasuoo
.10 e6palMou s,aaMoaaog gljM ao aannoaaog 40 uollpanp eql le 6uiloe sallllue ao suosaed Aue ao aaMoaaog
`sseooad uo!leo!Idde ueoq eql 6upnp 4! llnelep u! aq !legs aaMOaaog •uolleollddb UBO7 s,aaMOaaog •g
•asneo algeuoseaJ Lions 6u!/(goads uolloadsui aopalu! ue Lions of aopd ao 40 awl! agl le eo!lou aaMOJaog
anl6 !legs aapuaq •Apedoad 041 uo swewanoadw! eql to aopeiu! eql loedsu! /caw aapuaq `asneo algeuoseaa
seq l! 11 •Apadoad eql 1 suolloadsul pue uodn saplue algeuoseaa a)lew /caw lue a sl! ao aapuaq
•uolleiolsei .10 a!edei qons 10 uolleldwoo eql aol uolle6!!go s,aaMOaaog 10 panallaa lou s! J9MOaa013
'/(laadoad ayl aaolsaa ao aledaa of lue!o111ns lou aae speeooid uolleuwapuoo ao aoueansu! 91.1111 'pelaldwoo s!
>laoM eql se sluewAed ssaa6oad 10 sagas e u! ao luewi(ed eI6u!s a u! uolleaolseJ pue saledaa eql ao1 speeooad
esingslp /(ew aapuaq •sesodand Lions a01 speeooad pasealaa seq aapuaq 1! Apo Apadoad eql 6upolseJ
ao 6upledei ao1 alglsuodsei eq is aaMOaaog `/(pedoad eql 40 6uNel eql ao 'Ol a6ewep yllM uolloauuoo
u! pled we speeooad uolleuwapuoo ao eoueansu! 1I •a6ewep JO uolleaopelep JeLilanl pone of pa6ewep 1!
/(laadoad eq1 nedaa ARdwoad !legs aaMOaaog 'appeal Alleolwouooe lou s! uolleaolseJ ao aledeJ ley! g uolloes of
luensand peulwaalep 511! ssalun •uoll!puoo sl! of anp amen u! 6u!seaaoap ao 6ulleaopalep wog /(pedoad agl
luenaad of aapao u1 Alaadoad agl ulelulew !legs aaMOaaog '/(laadoad agl u! 6ulplsaa s! aaMOaaog 10U .10 aaglagM
•Aliedoad eql uo 91S BM llwwoo .10 eleaopelap of /claadoad eql Mope 'Apedoad eql aledw! ao a6ewep 'Aoalsep
lou !legs aaMaaaog •suolloadsul :AUedoad 9111. 10 uolloaload pue eoueuelule J `uollemesaad L
Account Number: 940 -2- 390 433094
insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a
non- refundable Toss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non refundable,
notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay
Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments
if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer
selected by Lender again becomes available, is obtained and Lender requires separately designated
payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance, as a
condition of making the Loan and Borrower was required to make separately designated payments toward
the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage
Insurance in effect, or to provide a non refundable loss reserve, until Lender's requirement for Mortgage
Insurance ends in accordance with any written agreement between Borrower and Lender providing for such
termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's
obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may
incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
Mortgage insurers evaluate their total risk on all such insurance in force 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 terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties)
to these agreements. These agreements may require the mortgage insurer to make payments using any
source of funds that the mortgage insurer may have available (which may include funds obtained from
Mortgage Insurance premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange
for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that
an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the
insurer, the arrangement is often termed "captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has if any with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
may include the right to receive certain disclosures, to request and obtain cancellation of the
Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and /or to receive a
refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During
such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
restoration in a single disbursement, or in a series of progress payments as the work is completed. Unless
an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous
Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then
due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order
provided for in Section 2.
WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1 /01 (page 7 of 12)
734
CL
(ZIP 8 a2vd) TO /T TO wuod LNIaIkIRTLLSNiI VflI03I ae IAI alppai1/aeN a!uue3- -kutum 012u!S-- ONILNOAM
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s,aau6ls -oo eql 4nog11M aloN eql JO Tuawnalsu! Apnoas sly4 swxal ayl of pae6aa gT1M SUO4 poww000s
Aue aNew JO aeagaol 'Alpow 'puejxe of eaa6e use aeMOaxog aaylo Aue pue aapue- TeyT saaa6e (o)
pus :luewnalsul Aunoas sly! Aq paanoas swns ayT Aed oT pale6ligo Apeuosaad lou si (q) :luewnalsul Aunoes
sly! to swiel ayl aapun Axadoad ail ul lsaaalui s,aeu6is -oo ayl As /woo pue lusx6 `e6s61aow of Aluo luewnalsul
*noes sigi 6uiu6is -oo sl (e) „aeu6is -oo„ s) aloN eql alnoexe lou seop ing luewnalsu! Aunoas siyl su6is -oo
oqM aaMOaxoe Rue 'aanaMOH '!wanes pus !idol eq !leis /(Tglge!! pus suo1Ts61lgo s,aaMOxaoe Tsgl saaa6s
pus slueuenoo aaMoaxoe •punog suBlssy pug saosseoons :sieu6ls -o3 manes pue lulof 'EL
•Apewei JO 1146u1 Aue to eslaaaxe
ayT apnloaad JO to aan!eM s eq lou Hugs `anp uayl lunowe ail usgl ssal slunowe ul ao aaMOaxoe to lsaaalui
u! sxosseoons JO salTllue 'suosaed palyT waal sluewi(sd to eousldeooe s,aapue `uollsllwll 4nog4M `6u!pnloul
Apewaa JO ly6p Aue 6u!sloaaxa ul aapue Aq eoueasagaol Auy •aeMoxaog to lsaxalui ul saosseoons Aue
ao xaMaaaoe 1su!6!Jo aql Aq apew puewep Aue to uossaa Aq luawnxisu! Aunoas slit Aq paanoas swns eql }o
uoilez!powe /Wow es!mieq o JO luawAed aol ewil pualxe oT esnlax of JO Jemaaaog to lsaaalul ul aosseoons
Aus 4suls6e s6ulpeeooxd aouawwoo of paalnbaa eq lou Heys aapue- •JeMOxxog to lsaaalul u! saossaoong
Aue JO aaMOaaoe to Alllgel! eig neap.' of aleaado lou Heys 1aMOaaog to Tsaaalu! w aosseoons Aue JO
aaMOaaoe of aapue- /(q palusa6 luewn4sul Aunoes sly! Aq paanoas swns eq to uo!lszipows to uoileowpow ao
luewAsd aol ewpl ayT to uoisualx3 •.10AIRM a ;oil aepua As aoueaeagaoj :peseaieu ION aeM0aa08 •ZL
uoilOas ui ao4 pep!noad aapao ayT ul
palldde eq pugs Axadoad aql to xledax JO uo!lsaolsaa of palldde lou aae Te141 speeooad snoeuslleos!A Hy
•aapue l oT pied eq !lays
pue peu6lsse Agaaaq eae Axadoad ayl ul lsaaalui s,aapue1 to luewaisdwl ail of alqulnqulls axe leg4 se6ewsp
a01. wisp ao paeMS Aue to speeooad ail •luewnxlsui Aunoeg s1g4 aapun s41.16u JO Aaedoxd ayT u! lsaaalul
s,aapue1 to luewa!edw! lepalew aaylo JO Aaadoxd ayT To am4lalao4 sepnloaad `luew6pnf s,aapue ul `legT
6ullna e yl1M passlwslp eq oT 6u!peeOaad ao uo!Tae eqT 6ulsneo Aq '6 L uolloas u! pepinoxd se aTelsulaa `paxxn000
seq uolleaaleooe 1! `pus llnelap s Lions aano use J9Maaaog •Tuewnalsul AunOas slya aapun siy6u .10 Aaadoxd
ayl u! lseJalul s,aapuei to luewaledwl leualew aay4o ao Aaadoxd eql to axn4lalaol ul llnsaa woo `Tuaw6pnf
s,aapua1 ul `ley! un6aq s! `leu!wpo.10 llnlo aeq oq n '6u!paaooxd JO U0ROS Aue 11 llnelap ul eq !lays xaMOaaog
•spaeooad
snoeuelleosllAl of pae6ei ul uolloe to 4g8p e seq xaMOaaoe woiM 4sule6e Aped 0144 a0 speaooad snoeuelleosiW
aaMOxaoe seMO Teyl Aasd pxlyl ail sueaw „Aped 6ulsoddp„ anp ueiT lou ao aagTegM 'luewnalsul Aunaas
sly! Aq pexnoes swns ayT of ao Aaedoad ail to J!edaa ao uolleaolsaa oT aammle speeaoad snoeuellaos!W ayl
/(ldde pus halloo oT pezuoglne s! aapua 'uan16 sl eo!Tou an amp ail Jells sAep og u1Lil!M xapuai oT puodsaa oT
dial xaMOJJoe `se6ewep 104 pep a a11Tes 04 pee ue amew oT saw (eoualuas lxau au u! paullap se) Axed
6ulsoddp eqT Ian J9MOaa09 of xapue- Aq eoi4ou a944e '41 ao 'JeMOaaoe Aq pauopuege s! Axadoad 0q4 41
'anp uegT aae swns ayl lou JO aa4layM Tuawnalsul Aunaas
sly! Aq pe noes swns ayl of palldde eq !legs speawsxd snoeuelleos!W agl'6ugpM w aax6e aslMxaylo aapuel
pus aaMOxaoe ssalun `enlen ul ssol JO 'uollonxlsep `bup{ei len ed eql aaoleq Alalelpewwl paanoas swns eqT
to lunowe 8q4 uegT ssal sl amen ul sso! ao 'uo!Tonalsep '6up{el !sped aql aaoleq Ala4elpewwl Aaadoad aq4 to
enlsn laNxew ale} ain yolgM u! Axadoad ail 40 amen u! ssol a0 `uollonalsap '6uu1e4 !sped e to wane eql ul
•aaMOaaoe of pied eq !legs eoueleq Auy amen ul
sso! ao 'uollonalsep `6up{el !sped ayT aaolaq Alalelpewwl Axadoxd eqi to enlen la>laew ale} ayT (q) Aq pepinlp
amen ul ssol ao `uoi4onalsep le!laed ayT aaoleq Alalelpeww! paanoas swns ayT to lunowe 1B404 ail (e)
:uo!Toea4 6u!mollol aylAq pe!IdRlnw speaooad snoeuelleosiUN eglto lunowe ayT Aq peonpaa eq !legs luawnxlsul
Aunoes sly! Aq paanoas swns eql `6u11LM w aaa6e es!Maaylo Japuei pus aaMouoe ssalun `amen u! ssoi ao
`uollonalsep'6u1>{slpiped 0qT aaoleq Alale!paww! luawn4su1 Aunoes slylitq paanoas swns ay440lunows ayT
Lima aa1e9x6 JO 04 lenbe sl enlsn u! sso! JO 'uol4anxlsap `6upie4 RIM ail axoleq i(lalelpewwl A edoxd ayT to
enlen la>{aew x1e4 ail ialgM u! Aaadoad 014140 amen ul ssol JO `uollOnalsep '6upiel le1laed s to Juana 0 141 ul
•xeMaaaog 04 pled `Aue 11
'sseoxe 0 144 yl1M `anp uayl lou xo xaylaLiM 'luawnalsu! ATUnoes s!141 Aq paanoas swns 0144 04 palldde eq !legs
speaooad snoeuellaosm 0144 'Aaadoad ayT to amen ul ssol ao `uo!Tanalsep e 40 wane 0144 ul
Account Number: 940 -2- 390 433094
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes
Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain
all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from
Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in
writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section
20) and benefit the successors and assigns of Lender.
14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's
default, for the purpose of protecting Lender's interest in the Property and rights under this Security
Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to
any other fees, the absence of express authority in this Security Instrument to charge a specific fee to
Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees
that are expressly prohibited by this Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
that the interest or other loan charges collected or to be collected in connection with the Loan exceed the
permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the
charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted
limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will
be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is
provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower
will constitute a waiver of any right of action Borrower might have arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be
in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been
given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if
sent by other means. Notice to any one Borrower shall constitute notice to all Borrower unless Applicable Law
expressly requires otherwise. The notice address shall be the Property Address unless Borrower has
designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of
Borrower's change of address. If Lender specifies a procedure for reporting Borrower's 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 has
designated another address by notice to Borrower. Any notice in connection with this Security Instrument
shall not be deemed to have been given to Lender until actually received by Lender. If any notice required
by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy
the corresponding requirement under this Security Instrument.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by
federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained
in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law
might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall
not be construed as a prohibition against agreement by contract. In the event that any provision or clause
of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other
provisions of this Security Instrument or the Note which can be given effect without the conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include
corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and
include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take
any action.
17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest
in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those
beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow
agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser.
WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1 /01 (page 9 of 12)
736
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o luensand aannoarog o; uenl6 uol ;eaaiaooe }o eollou ay; pue ZZ uolpes o; luensand mMOaaog o; uenl6
Gino o; ilunpoddo pue uol ;eaalaooe ;o col ;ou ayl •uolloag sly; ;o sesodind ao; algeuoseaa aq o; pawaap
eq IIIM pouad awl; win `uame; eq ueo uol ;oe ule ao aroi_eq esdele lsnw LioILiM pouad awl; a sapinoad
Mel algeollddy li •uol ;oe and ;oaaaoo Net o; col ;ou Lions ;o 6u!Al6 ay; mile pouad algeuoseaa e o;aaay Aped
aaylo ay; pepaolle pue yoeeiq pe6eile Lions to (g uolloag to sluewarinbei ay; LiIIM aouelldwoo uI uanl6
eollou Lions gip) Aped lay ;o ay; pal ;l;ou sal aapual JO aaMOaaog Lions gun `luewna ;sui AlpnOag sly; `lo
uoseaa Aq pomp A ;np Aue JO `p uo!s!noad Aue pegoeaaq seq Aped aaylo aq ;egl se6alle ;eyl ao luewnrlsul
Allmoag sly; of luensand suol ;oe s,Aped lay ;o ay; woa; sespe ;eil (ssep a to ieqwew ay; Jo ink! lenpinlpu!
ue mina se) uol ;oe leplpnf Aue o; paulof eq JO `ulof `aouawwoo /(ew Japuei aou aaMOaaog lay ;laN
'aeseuoand
aloN ay; Aq pepinord eslMaaylo ssalun ieseyornd aloN ay; Aq pewnsse iou are pue aaolnaag ueoi aosseoons e
o; parra;suar; eq JO aeolnraS ueo ay; y ;lM uleweJ IIIM aaMOrrog o; suol ;e6llgo 6upinaes ueol e6e6jow ay;
`aloN ay; to raseyoand ay; ueyl aaylo aaOlnmg ueoi a Aq paovuas sI ueoi ay; aal}eaaayl pue Nos sI aloN ay; II
•6upvues to re suea;lo col ;ou a !Alm uol ;oeuuoO ul sarmbea ydS3bI uol ;ewrolu! raylo Aue pue spew eq wogs
s;uewAed yolpm o; ssaappe ay; 'reolnaes ueo Mau ay; Io sseippe pue eweu ay; ems IIIM wpm e6uego ay; to
aollou ual;uM uan!6 aq !um aaMOJJOg `Jeovues ue01 ay; lO a6ueyo a sI eaaq; li •a;oN ay; to ales a o; palele un
Jeolnra9 ueo ay; }o se6ueyo Grow JO auo eq igblw osle emu Mel elgeollddy pue ';uewna ;sui ;pnoes sly;
`aloN ay; aapun suolle6!!go 6uloinms ueo! e6e6;aow J8140 swaoped pue luewna;sui AlunOes sly; pue a ;ON ay;
aapun enp sluew/ed olpoped sloo!!o° leg1(„ moln eg ueo ay; se uMowl) /ll ;ue ay; ul e6ueLio a ul llnsea;y6lw
ales v •aaMOaaog o; col ;ou aopd lnoyllM sewn eiow JO auo pus eq ueo ;uewnr ;su! igpnoas sly; LiI!M ray ;e6o;)
aloN ay; u! lsaaalu! wined ao aloN 0 Lil 'aoueAe!iD Jo eolloN :aaolnrag ueo jo abue43 :atoN 10 GIBS 'OZ
•g uolppeg aepun uol ;eaaleooe to aseo ay; ui Aldde;ou !legs alelsulaa o ;y6p sly; `aanaMOH 'palm=
peg uolleaalaooe ou II se eA!palja /Ilnl ulewaa !legs i(geaaq parnoes suolle6llgo pue luawnalsul *noes
sly; 'aaMoaaog Aq luewa ;e ;Sinai uodn •ae}suerl spund oluoa ;oe13 (p) ao 'A;l ;ue ao Mlle ;uawna;sul `Aoue6e
leaapa e Aq parnsu! are sllsodep esogM uol ;n ;I;sul ue uodn uMeap s! )pago Lions Aue pep!Aoad Vego s,ralgseO
ao >ioayo s,rernseaa; `>pego ){ueq `joego pei gjao (o) !Japan i euow (q) !Liseo (e) :aapue i Aq paloalas se
`swan; 6u!mollo; ay; to erow .10 auo uI sasuadxa pue swns luewalelsulaa Lions /(ed aaMOrrog Ieyl aalnbar /caw
rapua1 •pe6uegoun anul ;uo3 !lugs'luawnalsui A;pnOeS slylAq paanoas swns ay; Aed o; uolle6llgo s,aaMoraog
pue 'luewna ;su! kkpnoes s!ql aapun s;Li6p pue Apadoad aLii u! ;saae;ul s,aapue ;ey; einsse oI ea!nbaa
Algeuoseea Aew aapue i se uollde Lions swim (p) pue ;uawna ;su! A;pnoas sly; Jepun slg6u pue Apedoad ay; ul
IseJe ul s,rapue16ul ;oa ;oad to esodrnd ay; aol paranoid seal aeglo pue 'seal uol;enlen pue uolloedsu! /(padoad
`seal ,s/(auaoge algeuoseaa `O; pallwl! ;ou ;nq '6ulpnpul luOwnrlsu! A;pnOOS sly; 6upaolue uI paranOUl
sasuadxa !!e sited (o) !sivawaaa6e ao s;ueueno3lay ;o Aue }o ;Inelap Aue seanO (q) 'paamOOO peg uolleaale3Oe
ou II se O;ON ay; pue luawna ;sui A;pnoes sly; aapun enp aq pinoM uein g3IgM swns Ile aapuei sited (e)
:mMOaaog ley; ale suol ;IpuoO °soul 1uawnalsui A;pnoas slyl 6u!Oaolue luew6pnf a to AGlue (0) JO 'elelsulaa
of ;y6la s,aaMorrog to uol;eulwral egl rol Alloads ig6lw Me algeollddy se pouad Jaw° Lions (q) :;uewna;sul
AIpnoeg sly; ul peuleluoo ales to aaMod Aue o; luensand Almdoad ayl }o ales amp" sAep °nil (e) :lo Isa!pea
ay; o; loud awl; Aue ;e panel ;uoosip ;uewnrlsu! *noes s!Li; Io ;uaw8OJO4U8 aneq of 116p ay; anal !legs
raMOaaog `suolllpuoO Malmo s ;caw aaMoaaog 41 •uo14eralaoob Ja br a;Gnsulad o; ly5!H s,aanno.uoe '64
•JOMOJJOE uo puewep ao a011ou Jegpn4 lnoq ;lM
luawnalsu! /tlpnoeg sly; Aq palllwaad salpawar Aue a){onui Aew aapua1 `pouad sly; to uol ;ei!dxe ay; o; loud
swns esegl scud of sllel aaMaaaog 11 •luawnr ;sui Alpnoas smLi Aq paanOas swns !!e iced Isnw raMOaaog poIpM
uILi;IM 9 I. uolloa9 y ;IM eouepa000e u! uen0 s! eollou aw amp ayl woal sAep Og ueq; ssal lou to pouad B ap!nord
Heys a011ou aLil •uol ;erepooe Io OOROU JaMaaaog ani6 hays aapua1 `uolldo sly; ses!Oraxa aapua1 I!
algeollddy Aq pallglyord s! asloaaxa Lions lI aapuei Aq pespaexe eq ;ou Heys uolldo s!y; `aanaMOH
;uawnalsul AlpnOas sly; Aq paanoes swns pe to Ilnl ul luewAed a;elpeww! eJ!nbaa Aew rapue ;uesuoo
uefpM aopd s,Japue ;noyllM (paaaalsueal pins s! aaMOraog u! lsaaelu! le!Ol4aueq a pue uosred lernleu e;ou
sl JeMOJJOe I1 JO) panalsuea; ao pIOS s! AJedoad ay; uI ;seJelul AUB JO Alaedord eql to lied Aue .10 IIB I!
6727
Account Number: 940 -2- 390 433094
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances
defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following
substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and
herbicides, volatiie solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b)
"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate
to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action,
remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition"
means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup.
Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous
Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do,
nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law,
(b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a
Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding
two sentences shall not apply to the presence, use, or storage on the Property of small quantities of
Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to
maintenance of the Property (including, but not limited to, hazardous substances in consumer products).
Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or
other action by any governmental or regulatory agency or private party involving the Property and any
Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental
Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any
Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous
Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any
governmental or regulatory authority, or any private party, that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary
remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender
for an Environmental Cleanup.
NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to
acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify:
(a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the
date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure
the default on or before the date specified in the notice may result in acceleration of the sums
secured by this Security Instrument and sale of the Property. The notice shall further inform
Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the
non existence of a default or any other defense of Borrower to acceleration and sale. If the default
is not cured on or before the date specified in the notice, Lender at its option may require immediate
payment in full of all sums secured by this Security Instrument without further demand and may
invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be
entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,
including, but not limited to, reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower
and to the person in possession of the Property, If different, in accordance with Applicable Law.
Lender shall give notice of the sale to Borrower In the manner.provided in Section 15. Lender shall
publish notice of the sale, and the Property shall be sold in the manitei itragotibtdbyAppligOkaiy4w.
Lender or its designee may purchase the Property at any sale. The prbceed5 offthe sale shall be
applied in the following order: (a) to all expenses of the sale, incluc ng, but riotlimited reasonable
attorneys fees; (b) to all sums secured by this Security Instrument; and (c) errt+;r e*t ess toitntiberson
or persons legally entitled to It.
WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 11 of 12)
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months. In no event, will my interest rate be increased or decreased by more than two
percentage points (2.000 during each one year interval following the first Change Date and
each anniversary thereof. My interest rate will never be greater than 12.750 which is called
the "Maximum Rate."
(E) Effective Date of Changes. My new interest rate will become effective on each Change
Date. I will pay the amount of my new monthly payment beginning on the first monthly payment
date after the Change Date until the amount of my monthly payment changes again.
(F) Notice of Changes. The Note Holder will deliver or mail to me a notice of any changes
in my adjustable interest rate and the amount of my monthly payment before the effective date
of any change. The notice will include information required by law to be given me and also the
title and telephone number of a person who will answer any question I may have regarding the
notice.
NOTICE TO. CONSUMER: 1. Do not sign this agreement before you read it. 2. You are entitled
to ,a copy of this agreement. 3. You may prepay the unpaid balance at any time without
penalty.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this
Adjustable a Rider.
r l
OBERT E. KRONE 'S SIG DATE
h ti Aow /6, e2e0/
BARBARA J. K NE 'S SIGNATURE DAPE
238 WY- IOARMRider 10/01 /98 Page 2 of 2