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HomeMy WebLinkAbout9674511101111J After-Recording Return To: COUNTRYWIDE HOME LOANS, INC. MS SV -79 DOCUMENT PROCESSING P.O.Box 10423 Van Nuys, CA 91410 -0423 Prepared By: BRAD KIRK (Space Above 'rids Line Fo INC. MORTG GE AS JOI Recording Data) 0001537645663.1006 (Doe ID 81 MIN 1000157- 0007560231 -4 DEFINITIONS Words used in multiple sections of this document are defin d below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage o words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated NOVEMBER 25, 2006 together with all Riders to this document. (B) "Borrower" is MELVIN SHOELL, AND ANGIE SHOELL SURVIVORSHIP TENANTS WITH RIGHT OF Borrower is the mortgagor under this Security Instrument. (C) "NIERS!' is Mortgage Electronic Registration Systems Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors nd assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing u der the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, M1 48501 2026, tel. (888) 679 MERS. (D) "Lender" is COUNTRYWIDE HOME LOANS, Lender is a CORPORATION organized and existing under the laws of NEW YORK Lender's address is 4500-Park Granada MSN# SVB -314, Calabasa CA 91302 -1613 (E) "Note" means the promissory note signed by Borrow Note states that Borrower owes Lender THREE HUNDRED THOUSAND and 00/100 Dollars (U.S. 300, 000.00 plus interest. Bo Periodic Payments and to pay the debt in full not later than (F) "Property" means the property that is described bet Property." WYOMING Single Family- Fannie MaeJFreddie Mae UNIFORM INS UMENT WITH MERS Pape 1 of 1 6A(WY) (0005) CHL (08/05)(d) VMP Mortgage Solutions. In CONV/VA r and dated NOVEMBER 25, 2006 The •wer has promised to pay this debt in regular DECEMBER 01, 2036 w under the heading "Transfer of Rights in the (800)521 7291 Form 3051 1/01 11 llOO1 IIIIII 11II A '304 RECEIVED 10/22/2012 at 10:29 AM RECEIVING 967451 BOOK: 796 PAGE: 493 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Ell DOC ID 00015376456611006 (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security I trument, plus interest. (H) "Riders" means all Riders to this Security Instrum nt that are executed by Borrower. The following Riders are to be executed by Borrower [check box as appli able]: Adjustable Rate Rider Condominium Rider =Second Horne Rider n Balloon Rider Planned Unit Developm•nt Rider n 1 -4 Family Rider VA Rider Biweekly Payment Ride DOther(s) [specify] (1) "Applicable Law" means all controlling applicab e federal, state and local statutes, regulations, ordinances and administrative rules and orders (that hay the effect of law) as well as all applicable final, non appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessm -nts" 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. (IC) "Electronic Funds Transfer" means any transfer of nds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated thro gb an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, ar a horize a financial institution to debit or credit an account. Such term includes, but is not limited to, oint -of -sale transfers. automated teller machine transactions, transfers initiated by telephone, wire transfers and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described n Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under t e coverages described in Section 5) for (i) damage to, or destruction of, the Property; (ii) condemnation or o er taking of all or any part of the Property; (iii) Fonvoyant;f> in Doll of Fondomnatien; or (iv) miarcpreso tations of, or omissions as to, the valuo and /or condition of the Property. (N) "Mortgage Insurance" means insurance protecting L nder against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled mount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Securit Instrument. (P) "RESPA" means the Real Estate Settlement Proced res Act (I2 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 35 0), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does of qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any part. that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and /or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender; (i) the repa modifications of the Note; and (ii) the performance of Security Instrument and the Note. For this purpose, Bo [MRS (solely as nominee for Lender and Lender's succes of MERS, with power of sale, the following described prop COUNTY of [Type of Reoording Jurisdiction] ont of tho Loan, and all renewals, extensions and orrower's covenants and agreements under -this wer does hereby mortgage, grant and convey to ors and assigns) and to the successors and assigns rty located in the LINCOLN [Name of Recording Jurisdiction] SEE EXHIBIT "A" ATTACHED HERETO AND MAD s A PART HEREOF. Parcel ID Number: 83130 US HIGHWAY 89, AFTON [Strcet/Cit Wyoming 83110 9749 "Property Address [Zip Code] IrAD 5A(WY) (0005) CLIL (08105) Page 2 of 1 which currently has the address of Form 3051 1101 OO49 GAMY) (0005) CHL (08105) Page3a 1 DOC ID 00015376456611006 TOGETHER WITH all the improvements now or h reafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions•shalt also be covered by this Security Instrument. All of the forego ng is referred to in this Security Instrument as the "Property." Borrower understands and agrees that ME holds only Iegal title to the interests granted by Borrower in this Security Instrument, but, if necessary to omply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Pr perry; and to take any action required of Lender including, but not limited to, releasing and canceling this S curity Instrument. BORROWER COVENANTS that Borrower is lawfu ly. seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property an that_ the Property is unencumbered, except for encumbrances of record. Borrower warrants and will de end generally the title to the Property against all claims and demands, subject to any encumbrances ofrecor THIS SECURITY INSTRUMENT combines unif rm covenants for national use and non uniform euvoiitints wiilt Unified variations by Jurisdiction to eons Itute a uniform security Instrument covering real property. UNIFORM COVENANTS. Borrower and Lender co enant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, P cpayment Charges, and Late Charges..Borrower shall pay when due the principal of, and interest on, th debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower hall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Sec rity Instrument shall be made in U.S. currency. However, if any check or other instrument received by nder as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may req ire that any or all subsequent payments due under the Note and this Security Instrument be made in one or ore 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 a insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when recei ed at the location designated in the Note or at such other location as may be designated by Lender in accords a with the notice provisions in Section 15. Lender may return any payrnerlt or partial payment if the payme t ar partial payments are insufficient to bring the Loan current. Lender may accept any payment or partia payment insufficient to bring tho Loan current, without waiver of any rights hereunder or prejudice to its ghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such paym nts at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due dat then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Bo wer makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of ti e, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will b applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or alai which Borrower might have now or in the future against Lender shall relieve Borrower from making payme is due under the Note and this Security Instrument or perforating the covenants and agreements secured by thi Security Instrument. 2. Application of Payments or Proceeds. Except as therwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the fo lowing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due der Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became d Any remaining amounts shall be applied first to late charges, second to any other amounts duc under this S curity Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for 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 outstand ng, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, a d to the extent that, each payment can be paid in full. To the extent that any excess exists after the paym nt is applied to the full payment of one. or more Periodic Payments, such excess may be applied to any to charges due. Voluntary prepayments shall be applied first to any prepayment'charges and then as describ d in the Note. Any application of payments, insurance proceeds, or iscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change t e amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to ender 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 riority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or round rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of t e payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items re 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 d es, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of unts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender wai es Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obliga ion to pay to Lender Funds for any or all Escrow Form 3051 1/01 049 1 42:1- 6A(WY) (0005) CHL (06105) DOC ID 00015376456611006 Items at any time. Any such waiver may only be in writin_. In the event of such waiver, Borrower shall pay dIi'eetly, when and where payable, the amounts duo for a ty Escrow Items for which payment of Ponds has been waived by Lender and, if Lender requires, shall fu ish to Lender receipts evidencing such payment within such time period as Lender may require. Bon obligation to make such payments and to provide receipts shall for all purposes be deemed to be a co enant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is u.ed in Section 9. If Borrower is obligated to .pay Escrow Items directly, pursuant to a waiver, and Borrow r fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay uch amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Len er may revoke the waiver as to any or all Escrow Items at any time by, a notice given in accordance with Se tion .15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in a amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funs due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherw se in accordance with Applicable Law. The Funds shall be held in an institution whose depo-its are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution wh•se deposits are so insured) ar in any Federal Hone Loan Bank. Lender shall apply the Punds to pay the Es row Items no Later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender p s Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an greement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not c 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 a counting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defin d under RESPA, Lender shall account to' Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required •y RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordan with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escr w, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pa to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, ass sments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fe and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the ma ner 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 obli ation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such greement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedin s which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pendi g, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement s tisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part o the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Bo ower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall s• tisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one -time charge for a real estate tax verification and /or reporting service uscd by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the imp ovements now existing or hereafter erected on the Property insured against Loss by fire, hazards included w thin the term "extended coverage," and any other hazards including, but not limited to, earthquakes and oods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including eductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding entences can change during the term of the Loan. The insurance carrier providing the insurance shall be hosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exe cised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either. (a) a one-tim charge for flood zone determination, certification and tracking services; or (b) a one -time charge for flood zone determination and certification services, and subsequent charges each time remappings or similar ch nges occur which reasonably might affect such determination or certification. Borrower shall also be resp nsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection ith the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverage- described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Len er is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage s all cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the c ntents of the Property, against any risk, hazard Page 4 of 11 Form 3051 1/01 0 0 Li r or liability and might provide greater or lesser coverage th that the cost of the insurance coverage so obtained mil Borrower could have obtained. Any amounts disbursed by debt of Borrower secured by this Security Instrument. Thi VilY 6A(WY) (0005) CHL (0B /05) Pape 5 of 1 DOC ID 00015376456611006 m was previously in effect. Borrower acknowledges ht significantly exceed the cost of insurance that Lender under this Section 5 shall become additional se amounts shall bear interest at the Note, rate from the date of disbursement and shalt be payable, with su h intcrsal ttpon noliee from Lender to Borrower requesting payment. All insurance policies required by Lender and renew Is of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mo gage clause, and shall name Lender as mortgagee and /or as an additional loss payee. Lender shall have the fight to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender a I receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not therwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a s}attdard mortgage clause and shall name Lender as mortgagee and /or as an additional loss payee. In the event of loss, Borrower shall give prompt noti e 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 and rlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the estoration or repair is economically feasible and Lender's security is not lessened. During such repair and r toration period, Lender shall have the right to.hold such insurance proceeds until Lender has had an opportu ty to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that su inspection shall be undertaken promptly. Lender may di §borne proeeeda for the repair§ and restoration in a inaie payment or in a §erie§ of progrea§ payment§ as the work Is completed. Unless an agreement is made i 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 Jesse ed, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not en due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provi ed 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 0 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may nog, bate 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) Borrow is rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this S curity Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premi ms paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicabl to the coverage of the Property. Lender, may use tho insurance proceeds either to repair or rostoro tho Prop° y 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 GO days after the execution of this Security Instru ent and shall continue to occupy the Property as Borrower's principal residence for at !east one year afte the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably ithheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of destroy, damage or impair the Property, allow the Prope Whether or not Borrower is residing in the Property, Borro the Property from deteriorating or decreasing in value due Section 5 that repair or restoration is not economically feas damaged to avoid further deterioration or damage. If i connection with damage to, or the taking of, the Prope restoring the Property only if Lender has released proceed for the repairs and restoration in a single payment or 1 completed. If the insurance or condemnation proceeds a Borrower is not relieved of Borrower's obligation for the co Lender or its agent may make reasonable entries reasonable cause, Lender may inspect the interior of the Borrower notice at the time of or prior to such an interior in 8. Borrower's Loan Application. Borrower shall be Borrower or any persons or entities acting at the directi consent gave materially false, misleading, or inaccurate provide Lender with material information) in connection are not limited to, representations concerning Borrower's residence. the Property; Lnspectiotis. Borrower shall not to deteriorate or commit waste on the Property. er shall maintain the Property in order to prevent o its condition. Unless it is determined pursuant to ble, Borrower shall promptly repair the Property if surance or condemnation proceeds are paid in Borrower shall be responsible for repairing or for such purposes. Lender may disburse proceeds a series of progress payments as the work is not sufficient to repair or restore the Property, pietion of such repair or restoration. pon and inspections of the Property. If it has mprovements on the Property. Lender shall give ection specifying such reasonable cause. in default if, during the Loan application. process, n of Borrower or with Borrower's knowledge or nforrnation or statements to Lender (or failed to 'th the Loan. Material representations include, but ccupancy of the Property as Borrower's principal Form 3051 1/01 00497 91 Protection of Lender's Interest in the Property Borrower fails to perform the covenants and agreements legal proceeding that might significantly affect Lender' Security Instrument (such as a proceeding in bankrup enforcement of a lien which may attain priority over regulations), or (c) Borrower has abandoned the Prope reasonable or appropriate to protect Lender's interest in th including protecting and /or assessing the value of the Pro Lender's actions can include, but are not limited t0: (a) p over this Security Instrument; (b) appearing in court; and interest in the Property and /or rights under this Securi bankruptcy proceeding. Securing the Property includes, repairs, change locks, replace or board up doors and win other code violations or dangerous conditions, and have u action under this Section 9, Lender does not have to do so is agreed that Lender incurs no liability for not taking any Any amounts disbursed by Lender under this Section by this Security Instrument. These amounts shall bear int and shall be payable, with such interest, upon notice from If this Security Instrument is on a leasehold, Borrow If Borrower acquires fee title to the Property, the leaseb agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mort shall pay the premiums required to maintain the Mortgage Insurance coverage requh'od by Lender cease previously provided such insurance and Borrower was toward the premiums for Mortgage Insurance, Borrower s substantially equivalent to the Mortgage Insurance previou cost to Borrower of the Mortgage Insurance previously in by Lender. If substantially equivalent Mortgage Insuranc to pay to Lender the amount of the separately designated p ceased to be in effect. Lender will accept, use and retain 1 lieu of Mortgage Insurance. Such loss reserve shall be no is ultimately paid in full, and Lender shall not be require loss reserve. Lender can no longer require loss reserve amount and for the period that Lender requires) provide available, is obtained, and Lender requires separately desi Insurance. If Lender required Mortgage Insurance as a required to make separately designated payments toward omit pa' the premiums required to maintain Mortgage Insurance in effect, or to provide a non refundable toss reserve, until Lender's requirement for Mortgage lnsuraa a ends in accordance with any written agreement between Borrower and Lender providing for such terrain ion or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligati n to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any enti that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Bono er 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 th it risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortga insurer and the other party (or parties) to these agreements. These agreements may require the mortgage i surer to make payments using any source of funds that the mortgage insurer may have available (which ma include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purcha er of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may eceive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower' payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or re cing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in xchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsuran•e." Further: (a) Any such agreements will not affect the amoun that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agree ents will not increase the amount Borrower will owe for Mortgage Insurance; and they will not entitle 8 rrower to any refund. 5A(WYI (0005) CIIL (08/05) Pape 5 of 1 DOC ID 00015376456611006 nd Rights Under this Security Instrument. If (a) ontained in this Security Instrument, (b) is a interest in the Property and/or rights under this cy, probate, for condemnation or forfeiture, for this Security Instrument or to enforce laws or y, then Lender may do and pay for whatever is Property and rights under this Security Instrument, erty, and securing and /or repairing the Property. ing any sums secured by a lion which has priority (c) paying reasonable attorneys' fees to protect its Instrument, including its secured position in a t is not limited to, entering the Property to make ows, drain water from pipes, eliminate building or t ilities turned on or off. Although Lender may take and is not under any duty or obligation to do so. It r all actions authorized under this Section 9. 9 shall become additional debt of Borrower secured rest at the Note rate from the date of disbursement ender to Borrower requesting payment. r shall comply with all the provisions of the lease. Id and the fee title shall not merge unless Lender a ge Insurance as a condition of making the Loan, m ortgage Insurance in effect. If, for any reason, the I to be available from the mortgage Insurer that equired to make separately designated payments all pay the premiums required to obtain coverage ly in effect, at a cost substantially equivalent to the effect, from an alternate mortgage insurer selected coverage is not available,.Borrower shall continue yments that were due when the insurance coverage hese payments as a non refundable loss reserve in refundable, notwithstanding the fact that the Loan to pay Borrower any interest or earnings on such p ayments if Mortgage Insurance coverage (in the I by an insurer selected by Lender again becomes H ated payments toward the premiums for Mortgage ondition of making the Loan and Borrower was the premiums for Mortgage Insurance, Borrower Form 3051 1/01 (b) Any such agreements will not affect the rig Mortgage Insurance under the Homeowners Protection include the right to receive certain disclosures, to r e Insurance, to have the Mortgage Insurance terminated Mortgage Insurance premiums that were unearned at t 11. Assignment of Miscellaneous Proceeds; Fo assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proc Property, if the restoration or repair is economically feasibl repair and restoration period, Lender shall have the right to had an opportunity to inspect such Property to ensure the provided that such inspection shall be undertaken prompt[ a single disbursement or in a series of progress payments made in writing or Applicable Law requires interest to be not be required to pay Borrower any interest or earnings o repair is not economically feasible or Lender's security w be applied to the sums secured by this Security Instrumen paid to Borrower. Such Miscellaneous Proceeds shall be ap In the event of a total taking, destruction, or loss in shall be applied to the sums secured by this Security lnst any, paid to Borrower. In the event of a partial taking, destruction, or loss in of the Property immediately before the partial taking, des the amount of the sums secured by this Security Instrumen or losi in value, unless Borrower and Lender otherwise a Instrument shall be reduced by the amount of the Miscellan (a) the total amount of the sums secured immediately be divided by (b) the fair market value of the Property imme In value. Any balance shall be paid to Borrower. ru In the event of a partial taking, destruction, or loss in of the Property immediately before the partial taking, dest the sums secured immediately before the partial taking, Lender otherwise agree in writing, the Miscellaneous Pro Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, afte Party (as defined in the next sentence) offers to make an a respond to Lender within 30 days after the date the notice the Miscellaneous Proceeds either to restoration or repai Security Instrument, whether or not then due. "Opposing Miscellaneous Proceeds or the party against whom Rocco Proceeds. Borrower shall be in default if any action or proce Lender's judgment, could result in forfeiture of the Prope in the Property or rights ynder thi§ Security lns(r(Iment, B has occurred, reinstate as provided in Section 19, by causi ruling that, in Lender's judgment, precludes forfeiture of th interest in the Property .or rights under this Security Ins damages that are attributable to the impairment of Lende shall be paid to Lender. All Miscellaneous Proceeds that are not applied to res thc order provided for in Section 2. 12. Borrower Not Released; Forbearance By L payment or modification of amortization of the sums secur Borrower or any Successor in Interest of Borrower shall no Successors in Interest of Borrower. Lender shall not b Successor in Interest of Borrower or to refuse to extend ti the sums secured by this Security Instrument by reason of Successors in Interest of Borrower. Any forbearance by without limitation, Lender's acceptance of payments from Borrower or in amounts less than the amount then due, sha right or remedy. 13. Joint and Several Liability; Co- stgncrs; Succes agrees' that Borrower's obligations and liability shall be co -signs this Security Instrument but does not execute the i f 6A(WY) (0005) CHL (08 /05) Page 7ell DOC ID 00015376456611006 is Borrower has if any with respect to the Act of 1998 or any other Iaw. These rights may uest and obtain cancellation of the l4iortgage utomatically, and/or to receive a refund of any e time of such cancellation or termination. r eiture. All Miscellaneous Proceeds are hereby eds shall be applied to restoration or repair of the and Lender's security is not lessened. During such old such Miscellaneous Proceeds until Lender has work has been completed to Lender's satisfaction, Lender may pay for the repairs and restoration in as tllo'work Is completed. Unless an agreement is aid on such Miscellaneous Proceeds, Lender shall such Miscellaneous Proceeds. If the restoration or uld be lessened, the Miscellaneous Proceeds shall whether or not then due, with the excess, if any, lied in the order provided for in Section 2. alue of the Property, the Miscellaneous Proceeds ment, whether or not then due, with the .excess, if alue of the Property in which the fair market value uction, or Loss in value is equal to or greater than immediately before the partial taking, destruction, ree in writing, the sums secured by this Security ous Proceeds multiplied by the following fraction: re the partial taking, destruction, or loss in value lately before the partial taking, destruction, or loss alue of the Property in which the fair market value ction, or loss in value is less than the amount of estruction, or loss in value, unless Borrower and eeds shall be applied to the sums secured by this notice by Lender to Borrower that the Opposing and to settle a claim for damages, Borrower fails to is given, Lender is authorized to collect and apply of the Property or to the sums secured by this Party" means the third party that owes Borrower er has a right of action in regard to Miscellaneous ding, whether civil or criminal, is begun that, in or other material impairment of Lender's interest rrow @r cart tyre sych a cle('ault and, if agc@IeratI n g the action or proceeding to be dismissed with a Property or other material impairment of Lender's ment. The proceeds of any award or claim for s interest in the Property are hereby assigned and oration or repair of the Property shall be applied in nder Not a Waiver. Extension of the time for d by this Security Instrument granted by Lender to operate to release the liability of Borrower or any required to commence proceedings against any e for payment or otherwise modify amortization of y demand made by the original Borrower or any nder in exercising any right or remedy including, third persons, entities or Successors in Interest of I not be a waiver of or preclude thc exorcise of any ors and Assigns Bound. Borrower covenants and joint and several. However, any Borrower who ote (a "co- signer (a) is co- signing this Security Form 3051 1/01 OO49 AoC tD 000x5376456611QQ¢ Instrument only to mortgage, grant and convey the co -sig er's interest in the Property under the terms of this Security Instrument; (b) is not obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Securi y Instrument or the Note without the co- signer's consent. Subject to the provisions of Section 18, any Success r in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and i. approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrow r shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender grees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except 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 Lende s interest in the Property and rights under this Security Instrument, including, but not limited to, attome s' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority i this Security Instrument to charge a specific fee to Borrower shall net be construed as a prohibition on the ch rging of such fee. Lender may not charge fees that are expressly prohibited by this.Security Instrument or by pplicable 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 re uced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected f om Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make thi refund by reducing the principal owed under the Note or by making a direct payment to Borrower. Ifa refu d reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (w ether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such r fund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might h ve arising out of such overcharge. 15. Notices. All notices given by Borrower or Lend in connection with this Security Instrument must be in writing. Any notice to Borrower in connection wit this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mai or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borro er shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The noti e address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Burrower shall promptly notify Lender of Borrower's change of address. If Lender speci es a procedure for reporting Borrower's change of address, then Borrower shall only report a change of addr ss through that specified procedure. There may be only one designated notice address under this Security Ins rument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mai to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any otice in connection with this Security Instrument shall not be deemed to have been given to Lender until ac ually received by Lender. If any notice required by this Security Instrument is also required under Applicabl= Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security lnstrum nt 16. Governing Law; Severability; Rules of Constr etlen. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which he 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 p-rties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition ag inst agreement by contract. In the event that any provision or clause of this Security Instrument or the Not conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument o the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words •f the masculine gender shall mean and include corresponding neuter words or words of the feminine gen• er; (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 c py of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial In crest In Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial in erest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, co tract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Bo ower at a future date to a purchaser. If ail or any part of the Property or any Interest in the r roperty is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument However, this option shall not be exercised by Lender ifs ch exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give orrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 1$ within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender ma invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 5A (WY) (0005) CHL (08/05) Page 8 or 1 OVA Form 3051 1/01 DOC ID 4; 00015376456611006 19. Borrower's Right to Reinstate After Accelerati n. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Secure Instrument discontinued at any time prior to the earliest of: (a) five days before sate of the Property pursu nt to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law mig specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Secure Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due and r this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any o er covenants or agreements; •(c) pays all .expenses incurred in enforcing this Security Instrument, includink, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incu ed for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Sec rity Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums a d expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certifi d check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institute n whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transf r. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain Ily effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the cast o acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold a or more times without prior notice to Borrower. A sale might result in a change in the entity (known as th6 "Loan Servicer that collects Periodic Payments due under the Note and this Security Instrument and perfo s other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. T ere also might be one or more changes of, the Loan Servicer unrelated to a sale of the Note. If there is a cha ge of the Loan Servicer, Borrower will be given written notice of the change which will state the name an address of the new Loan Servicer, the address to which payments should be made and any other informati n RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the oan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligati ns to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are no assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join or be joined to any judicial action (as either an individual litigant or the member of a class) that arises fro the other party's actions pursuant to this Security Instrument or that alleges that the other party has breathe any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender ha notified the other party (with such notice given in compliance with the requirements gf Section I5) of such Ileged breach and afforded the other party hereto a reasonable period after the giving of such notice to take c rrective action. If Applicable Law provides a time period which must elapse before certain action can be take that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration d opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Bo pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action rovisions of this Section 20. 21. Hazardous Substances. As used in this Section 1: (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 etroleum 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 urisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Envir nmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environ ental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwi e trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, u e, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substane s, 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, ue to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the alue of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Pr petty of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal esidential uses and to maintenance of the Property (including, but not limited to, hazardous substances in cons mer products). Borrower shall promptly give Lender written notice (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 Bo ower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, lea ing, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by th presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Bo .wer learns, or is notified by any governmental or regulatory authority, or any private party, that any remove or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall prompt i take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any o ligation on Lender for an Environmental Cleanup. Vi1r 6A(VYY) (0005) CHL (08105) Page 9 or 1 Form 3051 1/01 ��0 ;0 NON- UNIFORM COVENANTS. Borrower and Lend 22. Acceleration; Remedies. Lender shall give not Borrower's breach of any covenant or agreement i acceleration under Section 18 unless Applicable Law -p the default; (b) the action required to cure the default; notice Is given to Borrower, by which the default must on or before the date specified In the notice may res Se curity litsfrunibitt and sale of the Property. The uoti reinstate after acceleration and the right to bring a cou or any other defense of Borrower to acceleration and date specified in the notice, Lender at its option may secured by this Security Instrument without further de other remedies permitted by Applicable Law. Lender s pursuing the remedies provided In this Section 22, Inc fees and costs of title evidence. If Lender invokes the power of sale, Lender shall to the person in possession of the -Property, if differe shall give notice of the sale to Borrower in the manner notice of sale, and the Property shall be sold in the man designee may purchase the Property at any sale. following order: (a) to all expenses of the sale, includin (b) to all sums secured by this Security Instrument; an entitled to it. 23. Release. Upon payment of all sums secured by Security Instrument. Borrower shall pay any recordatio releasing this Security Instrument, but only if the fee is charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all righ laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agr Security Instrument and in any Rider executed by Borrowe 411m- 6A(WY) (0005) CHL (06/05) Pagel(' of DOC ID 00015376456611006 r further covenant and agree as follows: r ce to Borrower prior to acceleration following this Security Instrument (but not prior to r ovides otherwise). The notice shall specify: (a) a date, not less than 30 days from the date the e cured; and (d) that failure to cure the default It In acceleration of the sums secured by this e shall further Inform Borrower of the right to r t action to assert the non existence of a default ale. If the default Is not cured on or before the require immediate payment in full of all sums and and may Invoke the power of sale and any dIl be-entitled to collect all expenses incurred In uding, but not limited to, reasonable attorneys' ive notice of intent to foreclose to Borrower and t, in accordance with Applicable Law. Lender rovided In Section 15. Lender•shalI publish the er prescribed by Applicable Law. Lender or its e proceeds of the sale shall be applied in the but not limited to, reasonable attorneys' fees; (c) any excess to the person or persons legally this Security instrument, Lender shall release this costs. Lender may charge Borrower a fee for aid to a third party for services rendered and the under and by virtue of the homestead exemption es to the terms and covenants contained in this and recorded with it. 1 (Seal) -Potr wer (Seal) Borrower (Seal) Borrower (Seal) Borrower Form 3051 1101 005© STATE OF WYOMING, T e foreYoing instrume t,was acknow edged before e this by l t/ 1 X02 4 DOC ID #I: 00015376456611006 Ll Irv! //L. County ss: Is-JO U 2-- I O 2.004„. -4.-- 41-:" My Commission Expires: u (i t I'c IIP Notary Publi• Papa 11 er 1 Form 3051 1 101 NANCY J. BROWN NOTARY PUBLIC COUNTY OF F'a(jf STATE OF LINCOLN 'I'z l' WYOMIING MY COMMISSION EXPIRES to (9 6A(WY) (0005) CHL (08105) J050 THIS ADJUSTABLE RATE RIDER is made this NOVEMBER, 2006 and Is Incorporated 1 supplement the Mortgage, Deed of Trust, or Deed t same date given by the undersigned (the "Borrower') COUNTRYWIDE HOME LOS INC (the "Lender of the same date and covering the pr located at: ADJUSTABLE (LIBOR Index 83130 'US HIGHWAY 89, [Property Ad THE NOTE CONTAINS PROVISIONS A INTEREST RATE AND THE MONTHLY AMOUNT THE BORROWER'S INTEREST TIME AND THE MAXIMUM RATE THE BO ADDITIONAL COVENANTS. In addition to the Instrument, Borrower and Lender further covenant an MULTISTATE ADJUSTABLE RATE RIDER LIBO CONV BC ARM Rider 1U193 -US (12/05)(d) Pagel DOC ID 00015376456611006 TE RIDER ate Caps) WENTY -FIFTH day of to and shall be deemed to amend and Secure Debt (the "Security Instrument of the o secure Borrower's Note to perty described In the Security Instrument and TON, WY 83110 -9749 Tess] LOWING FOR CHANGES IN THE AYMENT. THE NOTE LIMITS THE RATE CAN CHANGE AT ANY ONE ROWER MUST PAY. ovenants and agreements made in the Security agree as follows: INDEX Single Family f4 1111 1 lily 1 5 3 7 6 4 5 6 6 0 0 0 0 0 1 0 9 N. 00504 A. INTEREST RATE AND MONTHLY PAYMENT CH The Note provides for an Initial interest rate of changes In the interest rate and the monthly paymen 4. INTEREST RATE AND MONTHLY PAYMENT CH (A) Change Dates The interest rate I will pay may change on the f DECEMBER, 2008 and on that day eve interest rate could change Is called a "Change Date." (B) The Index Beginning with the first. Change Date, my intere the average of interbank offered rates for six -month market "LIBOR as published In The Wall Street J of the date 45 days before each Change Date Is calla If the Index Is no longer available, the Note Hot comparable information. The Note Holder will give m (C) Calculation of Changes Before each Change Date, the Note Holder will c SEVEN percentage, CONV BC ARM Rider 1U193 -US (12/05) Page 2 o f 4 DOC ID 4: 00015376456611006 NOES 8 875 The Note provides for as follows: NGES •st day of sixth'month thereafter. Each date on which my t rate will be based on an Index. The "Index" is .S. dollar denominated deposits in the London umat. The most recent Index figure available as the "Current Index." t er will choose a new index that is based upon notice of thl3 choice, lculate my new interest rate by adding point(s) 7 000 to the Current Index. The Note Holder will then round the result of this add tion to the nearest one eighth of one percentage point (0.125 Subject to the limits stated In Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that 1 am expected to owe at the Change Date in full on the maturity date at my new Interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The Interest rate I am required to pay at the firs Change Date will not be greater than 10 .375 or less than 8 875 There fter, my interest rate will never be increased or decreased on any single Change Date by mor than ONE ONE -HALF percentage point(s) 1 500 from the rate f interest I have been paying for the preceding six months. My Interest rate will never be greater than 15.875 or leas than 8.875 (E) Effective Date of Changes My new interest rate will become effective on ea h Change Date. 1 will pay the amount of my new monthly payment beginning on the first monthly pay ent date after the Change Date until the amount of my monthly payment changes again. n 5 CONV BC ARM Rider 1U193 -US (12/05) Page 3 f 4 0050; DOC XD #1~: 00015376456611006 (F) Notice of Changes The Note Holder will deliver or mail to me a no ice of any changes in my interest rate and the amount of my monthly payment before the effectiv date of any change. The notice will include information required by law to be given me and also he title and telephone number of a person who will answer any question 1 may have regarding the not co, B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 18 of the Security Instrument I amended to read as follows: Transfer of the Property or a Benefici i Interest In Borrower. As used In this Section 18, "Interest in the Property" means an Legal or beneficial interest in the Property, including, but not limited to, those beneficial inter sts transferred in a bond for deed, contract for deed, installment sales contract or escrow a reement, the Intent of which is the transfer of title by Borrower at a future date to a purchase If all or any part of the Property or any inter st In the Property Is sold or transferred (or if a Borrower Is not a natural person and a beneficial Interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Inssument. However, this option shall not be exercised by Lender if such exercise Is prohibit d by Applicable Law. Lender also shalt not exercise this option if: (a) Borrower causes to b submitted to Lender information required by Lender to evaluate the intended transferee s If a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a bi of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan a sumption. Lender may also require the transferee to sign an assumption agreement tha Is acceptable to Lender and that obligates the transferee to keep all the promises and greements made in the Note and in this Security Instrument. Borrower will continue to b obligated under the Note and this Security Instrument unless Lender releases Borrower In riting. If Lender exercises the option to require I mediate payment in full, Lender shall give Borrower notice of acceleration. The notice sha I provide a period of not less than 30 days from the date the notice Is given In accordance ith Section 15 within which Borrower must pay all sums secured by this Security Instrumen If Borrower fails to pay these sums prior to the expiration of this period, Lender may tnvoi a any remedies permitted by this Security instrument without further notice or demand on orrower. DOC ID 00015376456611006 BY SIGNING BELOW, Borrower accepts and agr es to the terms and covenants contained in this Adjustable Rate Rider: CONV BC ARM Rider 1U193 -US (12105) d �v MELVIN SHOELL ANGIE SHOELL 9 Page 4 (4 (Seal) Borrower (Seal) Borrower (Seal) Borrower (Seal) Borrower 005©") i NOV -20 -06 13:29 FROM -Land Title Company EXHIBIT S. A tract of land in the W.ASW is of Section 6, 731N 8118 Jv of the 6th P.M.. Lincoln County, Wyoming, said tract being more particularly described an follows: BEGSNNXNG at a point on the South tlnc of the NW 14S tV34 of said Section 6, said pdimt of beginning lying N 89 0 43'30" E, 3939 feet from the Southwest eo er thereof (South one sixteenth comer). said Southwest corner being a MAG nail in asphalt withrafere c monuments S 88°22'05" W.59.13 feet and being a 344" brass cap inscribed "PAUL N. of beginning also lying on thaEasterly right-of- 00 feet Easterly from the centerline of a 3 °00 spiral length of 450.00 feet, a spiral, angle of W, said spiral curve beginning at a point lying sixteenth corner, with test stated course along N 01 W. 11.14 feet; N 77 °02'35" E, 40.51 feet, cacti reference monument SC1 ERBEL RLS 164* appropriate details. said poin way line of U.S. Highway No. 89: thence Northerly 11.14 feu along said right of way, 50 spiraled curve concave to the Northeast. ha'vin 06 °45', and a beginning tangent of S 00 05'02" 14 03 °25'56" W, 197.44 feet from said South on said tight of way having a long cord which bet thence 5 89 °57'37" E, 104.72 feet; thence N 89 °30'45" E, 101.17 feet; S 89 56'22° E, 131.48 feet: N 89 12'44" E, 44.73 feet to a fence which bet 5 00 E, 10.57 feet along Ilse prolongatio N 89 43'30" E, 60.25 test along said North tin S 00 °02'23" W, 660.29 feet to a point on the S S 89'36'14" W. 30230. feet along the South 1in line Of said U.S. Highway No. 89, said polo Southwest corner of said NUS',SW i4 (South inscribed "PAUL N. SCHgltBEL R1S 164" 45 47'40" 9, 0.46 feet from a Wyoming High lying on a curve cone ace to the East, from whitl feet; the following four (4) ooUtses along said tight -o Northerly. 9.73 feet along the arc of said cury the long chord of which bears N 19 0 54 thence S 70 °14'26" W, 25 -00 feet, along the p of Curvature of a curve. having the se. 1859.86 feet, said point of curvature thence thence thence thence thence thence thence Wyoming Highway Department referee co market: thence Northerly 425.02 feet, along the arc o said curve, through a central angle of 13 °05'36 the long chord of which b 14 13 °1246" W. 424.09 feet, to a point lying N 83 °20'02" E. 50.00 fe from the highway centerline Spiral to Curve point of ias said spiral curve Northerly 13933 feet along said rlgh -of -way, 50.00 feet Easterly from the centerline of said spiral curve, the Ion chord of which bears N 04 44'38" W. 139.31 feet, to a point on the South 1 0e of that tract of land described in the Warranty Deed recorded In Book 74'R on page 412, of the LinOOltc County Records: thence the following Frye (5) courses along the bounds thereof: S 89 57'37" E. 128.99 feet thence N 00 °02'23" 3, 70.00 feel; thence N 89 °57'37" W, 28.50 feet: thence N 00 °02'23" E. 9.00 feet; thence 14 89 °57'37" W. 103.76 feet to a p Int on said Easterly right-of- -way line. Easterly 50.00 feet from the centerlin- of said spiral curve; thence Northerly 28.87 feet along said Tight of-way li c. 50.00 feet Easterly from the centerline of said apical curve, the long chord of which beats 01'25'08" W, 28.87 feet, to the POINT OP BEGINNING_ thence w 307 733 -8186 7 -272 P.004 /008 F -442 236 s North; of the North tine of said 11 uth line of said N'AS'hSW14; cbcreef to a point on the Easterly right -of -way lying N 89 36'14" E, 179.08 fog from the omit one-sixty- -forth corner), a 334' brass cap appropriate details, said poi= also lying 14 y 17 cparunenc reference marker, said point also the radius point bears N 69 °56'12` E, 1834.86 -way line: ihcough a central angle of 00 18'14', 41" W. 9.73 feet; lonxation of Mc radial lion, to tbePOlnr c radius point. the radius of which is 'as S 79 12'06" W, 1.04 feet from a 0OS08.