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HomeMy WebLinkAbout969763Return To: FINAL DOCS T7408 —01F 4101 WISEMAN BLVD BLDG 108 SAN ANTONIO, TX 78251 -4200 Prepared By: MILITARY FAMILY HOME LOANS, LLC 800 WALNUT STREET DES MOINES, IA 503093605 DEFINITIONS [Space Above This Line For Recording Data] MORTGAGE 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 Nvords used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is datedMARCH 01, 2013 together with all Riders to this document. (13) "forrtiwcr "is TIMOTHY W HELMS AND CAROL D HELMS, HUSBAND AND WIFE. Borrower is the mortgagor under. this Security= .Instrument. (C) "Lender" is MILITARY FAMILY HOME LOANS, LLC Lender is a LIMITED LIABILITY COMPANY organized and esisting under the laws of THE STATE OF DELAWARE Lender's address is. 800 WALNUT ST 2ND FL, DES MOINES, IA 50309 Lender is the mortgagee under this Security Instnrnient. 0354053944 3939.60999907 WYOMING Single Family Fannie •Mae/Freddie Mae UNIFORM INSTRUMENT VMP (ta Wolters Kluwer Financial Services NMFL 3051 (WCNI) Rev 6x2008 ud034 RECEIVED 3/4/2013 at 3:13 PM RECEIVING 969763 BOOK: 806 PAGE: 34 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Farm 3051 1/01 VMPB(WY) (080300 Page 1 of 18 (D) "Note "means the promissory note signed by Borrower and dated 'ARCH 01, 2013 The Note states that Borrower owes Lender THREE HUNDRED THIRTY THOUSAND AND 00/100 Dollars (U.S. *330 .00 plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later: than APRIL 01, 2028 (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, phis 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 arc to be executed by Borrower [check box as applicable] Adjustable.. Rate Rider n Condominium Rider n Second .home Rider Balloon Rider n Planned Unit Development Rider n 1-4 Family Rider VA Rider I 1 Biweekly Payment Rider 1 Qther(s) [specify] I x1 WYOMING Single Family Fannie Mae /Freddie Mac UNIFORM INSTRUMENT vi Form 3051 1fO1 VMP:, MPE (0803);00 Wolters Kluwer Financial Services Initials; PagO of 1'6 00035 (11) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative niles and orders (that have the effect of law) as well as all applicable final, non appealable judicial opinions. (1) "Community Association Dues, Dees, 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. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction ariglnated by check, draft, or similar paper instrument, Which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term, includes, but is not limited to, point- of:sale transfers, automated teller machine ttansactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers (K) "Escrow Dents" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any cotnpensatio:n, settlement, award of damages, or proceeds paid by any third party (other than' insurance proceeds paid under the coverages described in Section. 5) for (i) damage to, or destruction of the Property; (ii) condemnation or other taking of all or any part of the Property; (iii:) conveyance in lieu of condemnation; or (iv) misrepresentations of or omissions as to, the Value and/or condition ofthe Property. (141) "Mortgage Insurance." means insurance protecting Lender against the nonpayment of, or default on, the Loan, (N) "PeriodicPaym€nt" means the regularly :scheduled amount :due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) "RESPA means the Real Estate Settlement:Procedures Act (12 U.S.C. Section2001 et seq.) and its implementing regulation, Regulation X (24 C;F..R. Part 3500), 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 not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrowers' Means any party 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 Instrtmrent secures to Lender: (i) the :repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the COUNTY of LINCOLN (Type of Recording urixdiclion' ]Warne of Recording Jurisdiction] SEE ATTACHED LEGAL DESCRIPTION THIS IS A PURCHASE MONEY SECURITY INSTRUMENT. TAX STATEMENTS SHOULD BE SENT TO WELLS FARGO HOME MORTGAGE, P.O. BOX 11758, NEWARK, NJ 071014758 Parcel ID Ntiinber: which currently has the address of 2 8 LEWIS SPUR street' THAYNE [City], Wyoming 83127 (Zip Cartel (''Property Address TOGETHER WITH all the improvements now or hereafter erected on the 'property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security. Instrument. All of the foregoing is referred to in this Security :I.tistnuticnt:as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, rant and convey the. Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS .SECURITY INSTRUMENT combines uniform covenants for national use and non uniform covenants with Iimited variations by jurisdiction to constitute a uniform security instrtunent covering real property. WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ..Form 3051 1/01. VMP Wolters UMP6(WY) g Woltars I<IirwerFina"cial Services Initia Page e 3 o f.1 .1 6 00036 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Itetns, Preptyinent Charges, and Late Charges. Borrower shall pay when due the principal .of; and interest an, the debt evidenced by the Note and any prepayment charges and late charges due tinder the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S, currency, However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid Lender niay require that any or all subsequent due under the Note and this Security Instnimenl 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 otherloeai:ion as may be designatedby Lender in accordance the notice provisions in Section 15. Lender niay 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 hercuuder 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.payrrtents 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'&nds until.Borrower stakes 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 front 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) ptincipa.l 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 arm other amounts due tinder 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 frill 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 andthen 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, ti. 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 Instrumrent as a WYOMING Single Family- Fannie.Mae /Freddie Mac UNIFORM INSTRUMENT VMP Wolters Kluwer Financial Services Form 3051 VMP6(W) (0803).00 Page 4 of 16 90037 ‘MfOMI NG. Single Family Fannie MaerFreddie Mac UNIFORM INSTRUMENT VMP.® Wolters Kluwer Financial Services .Initial 00038 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 sutras 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 wain Borrower's obligation to pay to Lender Funds for any or. all Escrow Items at:any time.. Any such waiver tray only be in writing. in the event of such: waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow:Iteansfor which payment of Funds, has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such tirneperiod 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 wailer, and Borrower fails to pay the amount due.: for an EscroW Item, Lender may exercise its rights: under Section 9 and pay such amount and .Borrower shall then be obligated under Section. 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by anotice given in accordance with Section 15 and upon such revocation, Borrower shall, pay. to Lender all Funds; and: in stick amounts, that are then required under this Section 3. :Lender May, at any tine, collect mid hold Funds in an amou nt (a) sufficient to permit Lender to apply the. _Funds at the time specified under RESPA, and (b) not to exceed the inaximum`amourit a lender can require under IRESPA. Lender shall estimate the amount. of Funds clue ;on the basis of current data and reasonable estimates: of expenditures of future Escrow Itemus or othervuse m accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal .agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any .Federal Hone Loan Bank. Lender shall apply the Funds 10 payee Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding aizd applying the Funds, au rwally analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unniess an agreement is made in writing or Applicable Law requires interest: to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Leander can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, 'Lender, shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held m escrow, as defined under RESPA, Lender shall notify, Borrower as requited by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held. in escrow, as defined under RESPA, Lender shall. notify Borrower as required by RESPA, and .Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than. 12 monthly payments. Upon payment in full of all :urns secured by this Security instalment Lender shall promptly refund to Borrower any Funds held by Lender. Form 3081 1101 VMP8(WY) (0803).00 Page.Sof10 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the. Property, if any, and Community Association Dues, .Fees, and Assessments; if airy. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section.3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees m writing to the payment of the obligation secured by the lien in a,manner acceptable to Lender; but only so long as Borrower is performing such agreement (b) contests the hen in good faith by, or defends against enforcement of the lien in, legal proceedings which in :Lender's opinion operate to prevent the enforcenxeiit of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien tothis:Security instrument. If Lender :determines that any partoftheProperty- is subject to when which can attain priority over this Security Instrument, Lender may give. Borrower a: notice identifying the lien. WWithi.n 10 days of the date on which that notice is given Borrower shall satisfy the lien or take one or more (Idle actions .set forth above in this Section 4, Lender may require Borrower to pay a one -time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance, .Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the terns "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which. Lender:requires insurance, This insurance shall be maintained m the amounts (including deductible levels) and for the periods that Lender requires: What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, winch right :shall not be exercised unreasonably. Lender may require Borrower to pav, in connection with this Loan, either: (a) a one time charge for flood zone deterrinination, certification and tracking services; or (b) a one tinge charge for flood zone determination and certification services and subsequent charges each time remappingss or similar changes occur which reasonably slight affect such deternnination 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 deterrnitation 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 tinder 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 thus :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 nanne Lender as mortgagee and/or as an additional loss payee. Lender shall have the righ t to hold the policies and renewal. certificates. If Lender requires,. Borrower shall promptly .:give to Lender all receipts of paid preiuiums.and renewal. notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, WYOMING Single Family Fannie MaelFreddie Mac UNIFORM INSTRUMENT VMP lrs Wolters Kl3werFinancial Services Initials Fenn 3051 1/01 VMP6(WY) _(0603).00 Page 6 of 16 00039 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 irisu;rance 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 1iave 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 m 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 o :n 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 Instirurnent, whether or not then due with the excess, if any, paid to Borrower. Such insurance preeeed& shall he 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 bender 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, Berrokver. 'hereby 'assigns re Lender (a) Borrower's tights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security lnsininent, and (b) an other of Borrower's rights (other than the right to any refund of unearned prerr tnus 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. G. Qccupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instnnnent and shall. continue to occupy the Property as.Borrowcr'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. 7. Preservation, Maintenance and Protection of the Property Inspections. Borrower shall, not destroy, damage or impair the Property; allow the Property to deteriorate: or cornrrrit waste on the Property. Whether or not Borrower is residing in the Property; Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further, deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of the .Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a singlepayntent or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient WYOMING Single Family Fannie Mae/Freddie:Mac. UNIFORM. INSTRUMENT VMPrt/ Wolters Kluwer. Financial. Services In't'o 4 Form 3051 /01 VMP6(1M'1 :'(0803J:Q0 Page 7 ad^I6 00040 to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the 'Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if during the Loan applica.ti.on. process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. 11 (a) Borrower fails to perform the covenants and agreeitrentscontained in this Security Instrument, (b) there is a legal proceeding that right significantly affect Lender's interest m the :Property and/or rights raider this Security Instrument (such .as a proceeding in bankruptcy probate; for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned. the Property then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or "assessing the value of the Property., and securing and/or repairing the Property. Lender's actions can include, but are not limited to (a) paying any stuns secured by a heir which has priority over this Security instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in. the Property and/or rights under this Secu lnstrurne» t, .including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to entering the Property to make repairs, change' locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code :violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is. not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under. this Section 9. Any amounts disbursed. by Lender under this Section 9 .shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower sha comply with all the provisions of the lease. If Borrower acquires fee title to the. Property, the leasehold and the foe tittle shall not merge unless Lender agrees to. the merger in writing. 19. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage I in effect. If, for any reason, the Mortgage insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage .insurance, Borrower shalt pay the premiums required to .obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, front an alternate WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMPC1i` Walters Kluwer Financial Services Form 6051 1101 VMP6(WO (0803).00 Initials: U Paga 11 of 16. 00041 mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available; Borrower shall, continue to pay to Lender the amount of the separately. designatedpayrnents that Were due when the insurance coverage ceased to be m effect. Lender will accept, use and retain these payments as a non- refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non refundable, notwithstanding the fact that the Loan is ultimately paid .iii 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 tgage Insurance as a condition of making the Loan and Borrower was required to make separately :designated payments toward the prenuums for Mortgage Insurance, Borrower shall pay the prcntivaus required to maintain Mortgage Insurance in effect, or to provide a non- refundable kiss reserve until Lender's requirement for Mortgage Insurance ends in accordance with any written :agreement betweenBorrower and Lender providing for such termination or until termination is required by Applicable. Law. Nothing in this Section IQ affects Borrower's: obligation to pay interest at the rate provided in: the Note. Mortgage Insurance reimburses, Lender (or any entity Mat. purchasea the ..Note) for certain losses it may incurifBorroiverdoesnotrepaytheLoan as agreed. Borrower is not a party to the Mortgage :Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from tune to three, and may enter into agreenaeiits with: other parties that share or modify their risk, or reduce losses. These agreeritents 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 reinsurers 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, Tosses. 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 vi ill 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 Borrow will one for Mortgage Insurance, and they Will not entitle Borrott =er to any refund. (b) Any such agreements will not affect the rights Borrower has if any 'with :respect to than Mortgage Insurance under the Ilomeowners`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 receivea refund of any Mortgage/ nsurancep remiums 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. Busing 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. 4WOMING .Single Family Fannie Mae/Freddie Mac.UNIFORM INSTRUMENT VMP Wolters ,Kluwer Financial.Se,vioes' India* Form 3051 1/Q1 YMPBtI/Y) (0803) :00 Page D' of 18 UQOI3 repairs and .restoration in a single disbursement or in a series .of progress payments as the Work is completed. Unless an agreement is made m. writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest Or eaniings 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 Instntzrient,.. whether or not then due, with the excess,. any, paid to Borrower, Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the. event of a total taking, destruction, or loss in value of the. Property, the Miscellaneous Proceeds shall, be applied to the sums secured by this Secunity Instnunent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is e to or greater than. the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the stuns secured immediately before the partial, taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. An balance shall: be paid: to: Borrower. In the event of a partial taking, destruction, or loss in value of the.Property in which the fair Market value of the Property immediately before the partial taking, destruction, or loss itt value is .less than. the :amount of the stuns scoured immediately before the partial taking destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied le the sums scoured by this Security instrument whether or not the are then due. If the Property is abandoned by Borrower, or if after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,_ Borrower fails to respond to Lender within 30 days after the date the notice is °given, Lender' is authorized to collect and..apply the Miscellaneous Proceeds either to restoration or repair of the Properly or to the suers secured by this Security Instrument, whether or not then .due. "Opposing Party" nheans <the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds; Borrower shall be in. default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment:of Lender's interest in the .Property or rights under this Security Insinunent. Borrower, can cure such a default and, if acceleration has occurred, reinstate as provided in Section. 19; by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the. Property or other material impairment of Lender's interest in the Property or rights under this Security .Instrument. The proceeds: of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instilment granted by Lender to Borrower or any Successor in Interest of Bo rower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against WYOMING Single Family Fannie Mae/Freddle Mac UNIFORM INSTRUMENT VMP e Walters.Kiuwer Financial Services Initial« Fonri 308 1/01 V Iy1 FS (1tirY) (0803 00 Page 10,ot 16 90043 any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the slims secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co- signers; Successors and. Assigns :Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several, However, any Borrower who co- signs this Security Instrument but does not execute the Note (a "co- signer" (a) is co- signing this Security Instrument only to .mortgage, grant and convey the co- signer's interest in the Property under the terms of this Security Instrument; (b) is not personally 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 Security Instrument or the Note without the co- signer's consent. Subject to the provisions of Section IS, 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 arm 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 raluation 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.berefunded 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 Borrowcrwill 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. Seeurity Instrument shall be deexned: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. Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Bozrowcr. promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's WYOMING Single Family Fannie Mae/Reddie Mac UNIFORM INSTRUMENT VMP CS) Wolters. Kluwer Financial Services Initial Form 3059 1/01 VM ?60W> (08037 :00 Page:11 'of 16 00044 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 fast 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 Instnrment is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security I.nstrunient. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be. governed by federal law and the Iaw of the jurisdiction in which the. Property is .located All rights: and obligations contained m this Security Innstrument 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 Instnument 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 hnstrirnient. 18. Transfer of the Property or a :Beneficial Interest: in Borrower. As used in this Section IS, "Interest in the Property" means any legal or beneficial i:nterestin the Property, including, but not hmited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contractor escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser if all or any part of the Property or any .Interest in the Property is sold or transferred or if Borrower is not a natural person and a.bencficial 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 Instnuent. However, this option shall not be exercised. by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is :given in accordance with Section 15 within which. Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand ort Borrower, 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of (a) five days before sale of the Property pursuant to any potter of sale contained in this Security Instrument; (b) such other period as Applicable. Late aught specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security: Instrument. Those conditions are that Borrower: (a) pays Gender all sums which then would be due under this Security Instrument and the Note as if no accelerationhad occurred; (b) cures any default of'any other covenants or WYOMNO Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMPQ) •Wolters Kluwer Financial Services, Ferri) 3051 1401 VMP$(Vd1M) t0'at13) -0o Page 12 of 10 00045 agreements; (c) pays all expenses incurred in enforcing: this Security Instrument, including, but not limited to reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security lnstnunent, shall continue unchanged. Lender may require that Borrower pay such .reinstatement sums and expenses in one or more of the following forms, as selected by Lender (a) cash; (b) money order, (e) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance, The Note or a partial interest in the Note (together with this Security Instilment) can, be sold one or more times wiithonut prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan :Servicer that collects Periodic Payments due under the Note and this Security Instrument and perfornns other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note, if there is a change of the Loann Sew Borrower will be given written notice of the change which will state the name and address of the nett` Loan Servicer, the address to which payments should be made and any other information RESPA requires in connectlon with a notice of transfer of sericing, If the Note is sold and :thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to: Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless others =ise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either ar> individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security lnstnmient or that alleges that the other party has breached any provision of or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has noted the :other party (with such notice given in compliance with the requireuxents of Section 15) of Such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph, the notice of acceleration and opportunity to cure given to Borrower pursuant to Section. 22 and the notice of .acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" rneansaconditionthat can cause, contribute to, or otherwise trigger an Environmental Cleanup. WYOMING Single Family Fannie Mae:Freddie Mac UNIFORM INSTRUMENT VMP to Wolters Kluwer Financial. Services tnitia 4 Fan 3051 1101 V MP6(WY) (080300 Page 13 of 16 00016 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 anyEnvironnental. 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 govemmental or regulatory authority, or any private party, that any removal or other .remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall prpznptly 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. Len der 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. Lan provides otherwise). The notice shall specify: (a) the default; (b) the action requiretfto 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 Borrowver 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 lie 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 Lain. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the foIlowi.ng order: (a) to all expenses: of the sale, including, but not limited to reasonable attorneys' fees; (h) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Inslrwnent Lender shall release this Security Instruntent..Borrower shall pay any recordation costs. Lender may charge Borrower a fee for WYOMING Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP S Welters Kluwer Financial Services Form 3051 1/01 VMP6(WY) (0110400 Page 14 of 15 00047 releasing this Security I:nstriunent but only if the .fee is paid to a third party for services rendered and the cliarging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and: waives all rights under and by virtue of the hoiuestead.exenrption laws of Wyoming. BY SIGNING BELOW Borrower accepts and agrees to the terms and covenants contained in this Security Instrinrent and in any Rider executed by Borrower and recorded witlt it Witnesses: (Seal) Borrower WYOMING Single Family .FannieMae/Freddie Mac UNIFORM INSTRUMEN VMP Wolters Kluwer Financial Services d) fa (Seal) Borrower CAROL D HELMS (Seal) (Seal) Borrower Borrower (Seal) (Seal) 73orrowcr BorroYer (Seal) Borrower Form 3051 1101 VMPS(VJY) (x803).00 Page 15 of 16 00048 STATE OF VeeefVH4444, wA5 H NG1 TO N This instrument was acknowledged before me on Mara\ ,x0 by TIMOTHY W HELMS AND CAROL D HELMS My Commission Expires: 7- /04b WYOMING Single Family Fannie Mae /Freddie Mac UNIFORM INSTRUMENT VMP Wolters Kiower Financial Services KIN e County ss: a •w Tirila (and JL k L L. We ka f TU� an�1 00049 Form 3i051 1/01 VMP6(WY (0803):00 P 10 at 10 LEGAL DESCRIPTION OF PROPERTY Borrower Name: TIMOTHY W HELMS Property Address: 28 LEWIS SPUR THAYNE, WY 83127 Property Description: Lot 28 of Riverview Ranchettes Second Filing, Lincoln County, Wyoming as described on the official plat filed with Instrument No 509426 of the records of the. Lincoln County Clerk. -4034 (9901);01 1 M? MORTGAGE FORMS (B0O]521 7291 Date: 03/01/13 00050 1199 VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER. is made this 1ST day ofMARCH, 2013 and is incorporated into and shall be deemed to amend and supplement the Mortgage Deed of Trust or Deed to Secure Debt herein "Security= Instrument dated of even date herewith, given by the undersigned (herein "Borrower to secure .Borrower's Note to MILITARY FAMILY HOME LOANS, LLC (herein "Lender and covering the Property described in the Security Instnunent and located at 28 LEWIS SPUR, THAYNE., WYOMING 83127 VA GUARANTEED LOAN COVENANT: In addition to the covenants and agreements made in the Security instrument, Borrower and Lender further covenant and agree as follows: If the indebtedness secured hereby be guaranteed or insured under. Title.38, United States Code, such Title and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties and liabilities of Borrower and Lender, Any provisions of the Security Instrument or other •instruments executed in connection with said indebtedness which are inconsistent with said Title or Regulations, including but not limited to the provision for payment of any suin in connection with prepayment of the secured indebtedness and the provision that the Lender may accelerate payment of the secured indebtedness pursuant to Covenant 18 of the Security Instrument, are hereby amended or negated to the extent necessary to conform such instruments to said Title or Regulations. MULTISTATE VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER 62 -5388 (037 0) Page 1 of 3 Initials:: VMP Mortga9e Solutions (800)521 -7291 [P rop "jy. Address] 393960999907 00051 00052 LATE CHARGE: At Lender's option, Borrower will pay a "late charge' not exceeding four per centutn. (4 of the ov =erdue payment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be:pavable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper.costs.and expenses secured hereby: GUARANTY: Should the Department of Veterans Affairs fair or refuse to issue its guaranty in full amount. within 60 days from the date that this loan would normally become eligible for such .guaranty committed upon by the Department of Veterans. Affairs under the provisions of Title 38 of the U.S. Code "Veterans Benefits; the Mortgagee may (leclare the indebtedness hereby secured at once dice and payable and foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided. TRANSFER OF THE PROPERTY: This loan maybe declared immediately due and payable upon transfer of the property securing such loan to any transferee, unless the acceptability of the assumption of the loan is established pursuant to .Section 3714 of Chapter 37, Title 38, United States Code: An authorized transfer "assutuptioii of the properly shall also be subject to additional :covenants and agreements as set forth below: (a) ASSUMPTION FUNDING FEE: A fee equal to one -half of one percent 0.5 of the balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the loan holder or its authorized agent, as trustee for the Department of Veterans Affairs, If the. assumer fails to pay this fee at the time of trimsfer,, the fee shall constitute an additional debt to that already secured by this instrument, shall bear interest at the: rate herein provided, and at the option of the payee o:f the indebtedness hereby secured or any transferee thereof; shall be immediately "due and payable. This fee is automatically waived if the assort= is exempt. under the provisions of 38 0J.S_C. 3729 (c): (b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow assumption of :this loan, a processing fee inay be charged by the loan holder or its authorized agent for determining the creditworthiness of' the assutner and subsequently revising the holder's ownership records when an approved transfer is completed. The amount of this charge shall not exceed the maximum established: by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37, Title 38, 'United States Code applies. (c) ASSUMPTION INDEMNITY LIABILITY. If this obligation is assumed, then the assumer hereby agrees to .assume all. of the obligations of the veteran under the terms of the instniments creating and securing the loan. The assumer further agrees to .indemnify :the Department of Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument. eflO -538R (0310) Page 2 of 3 IN WITNESS WHEREOF, Borrower(s) has executed this VA Guaranteed Loan and Assumption Policy Rider. TIMOTHY W HE 42:::+-538R (0310) -Borrower CAROL D HELMS -Borrower -Borrower -:Bcirrower ,Borrower -Bort() Wer Page 3 of 3 -Borrower 00053