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Home My WebLink About868401868401 BOOK 452 PR PAGE 191 [Space Above This Line For Recording Data] MORTGAGE a THIS MORTGAGE ("Security Instrument") is given on 1st d y of Mips t 1997. Gary ti Bailiff and T oretta K Bailiff husband ancl wi ("Borrower"). This Security.Instrument is given to la rrY. es Cc 2.Q*. 19.9.2 Larzy Gerdes Trustee which is organized and existing under the laws of r and whose address is ng, Box 778 Green aiver„ ':,Iyomina 82935 ("Lender"). Borrower owes Lender the principal sum of Fifty Two Thousand two hundrec and no/100 Dollars (U.S. 521200.00 This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on A.ugus t 1„ 2012 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance 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, with power of sale, the following described property located in Lincoln County, Wyoming: Lot reventy (70) of Commissary L Unit L, Lincoln County, ryoming, as said Lot is laid down and described on the official plat thereof, filed of record in the Office of Che ::.ounty ''_erk and ..;:x-Officio _:egister of 'eeds of incoin T..ounty, together with all appurtenances situate thereon and appertaining thereto, subject, however to all exceptions, reservations and restrictions of record. which has the address of I:cemmer er [Street] [City] Wyoming 83113 ("Property Address"); [Zip Code] WYOMING—Single Family—Fannle Mae/Freddie Mac UNIFORM INSTRUMENT BANKERS SYSTEMS, INC., ST. CLOUD, MN 56302 (1-800-397-2341) FORM MD-1-WY 2/8/91 RECEIVED 00 SEP 13 H 2: 06 JEANNE. ER KEMMERER. 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Anunoas wrollun t aln 01 uon0tpsunf Aq suopuuun paltwnp Ilnm SlutuanOO mlo;un -uou pug asn repo peu 10; slueuano0 uuo ;run saulquroo •plooaa ;o saouulgtunoua Cu e of loafgns `spuguap pug stump IIg lsule2e A11ado1d ail 01 01111 all A1iulaua8 pua;ap HIM put S1Uezrem aamouog •p10001 to sa0uelqurnoua 101 idaoxa `palaqurnouaun st Apradoad 3142 Nip pug Airad01d agp Aanuo0 puu lue12 `a2e311ow op lg211 ail suit pue pa/Ca /moo Agalaq alulsa 011 ;o pastas A11n;me1 st 10M01101” 111141 SINVN I1AOJ 11amo1>IOg „•Alladold„ alp Se luawnz1sul Animas slip uI o1 paua ;al St 311t02a101 0 11 1 JO JIV •luatunrlsul A1un0as sap Aq p010100 aq osie Bugs suotlrppe pue sluawa0eldal pId •Alzadord alp to laid a lallealag 10 mom salnpxg pue `saoueualanddu `sluawasea Ipe pug 'Anadoad all uo pa10010 zap alai 1O mom sluamanoadwl 01 11 11 HIIM 2IIIH.LIOO.L SAT 16/92 AM WFJoi (11'c L66-009-L) (0(99 NW '00010 IS "ON! 'SW3ISAS Sa3 )1NV8 .L■I3NIf12I.LSMNII AIIIIf1DHS SIH,L TOtN9S0 satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall 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, from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to BANKERS SYSTEMS, INC., ST. 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To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. 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 delivered or mailed 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 on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the 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 paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer that collects monthly payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this BANKERS SYSTEMS, INC., ST. CLOUD, MN 56302 (1- 800 397 -2341) FORM MD -1 -WY 2/8/91 Form 3051 9/90 (page 5 of 6 pages) (sa8vd g Jo g a8vd) 0616 150E Woad .10M01.1011— (1 (alep) Lbb1 o►Ignd £I oM :ss ,ClunoD 16/92 AM WHOA (1.4U 30E99 NW'anolo'1S "3N1 'SW31SAS SH3NNV8 (2ui2papwoure slad) C7 V3 '-1(1—) sup atu =jag pa;Ipa[MOUxae seen luatunllsui Suioaaloj aqL Duew6peIMOWIOV.10d aull $Wl MoleB a lagtun j..j 'ClunaaS IgiaoS lagtunjsi Altman moos bbbl51 0 3 22 iofssttb� �W TOtSiFiSO iCq `OrIINIOAM 30 3.LH.LS •1T gum paplooa.' pug .iaMouog Aq palnoaxa (s)iapu Niue ui pug luatutulsuj AlunanS sup ut pauceluoo slueuanoa pug sum) aql o1 saaw&g pug sldaoag lamollog `mo'Iag ONINOIS Ag [,ijiaads] (s)iaglp fl lapig moll puooas lapig luatuanoldulj awl' lapig uoojjgg lapig luauzzied AjljaaMig lapr 1 luawdopAo win pauugjd lam luaturigd palenpe1O lapig Iijiulgd b—T 0 lapig unquunopuoD j Japig o i j ajgelsnfpy [(sa)xoq ajggogddg Noagp] 'luaumllsuj 'ilunoaS sp.j jo lled t alam (s)iapu aq1 Tt se luaumllsuj Alilnaas sup jo sluauiaa13g pug slueuanoa aql luamajddns put puau►e jjggs pug olui palelodloou! aq !legs Japu lions gaga jo sluauuaalgg put slueuanoa aq) 'luaumllsuj 'ililnaas sup g2iM laglaSol papiooal pug .raMO-uog ,iq palnoaxa ale slapu 010111 10 auo 3j ;uatuna;suj ,C;IanaaS sup 0) slam pZ Avadold agl ui lamop pug iisallna jo sup.) ije sagsinbuijal pug Alladold aql ui uoildulaxa pealsauIoq jo slq;Til jjg sanieM lamo.uog •saanl1M •£Z •slsoo uopeploaal Aug AB(' pugs lamollog •.MM011og Ol alega lnoglim luauinnsuj Jililnaas sup amp.' imp lapU0' luaumllsul iililnaas sup iCq pampas stuns jjg jo luaulked uodn •asualall •ZZ •1l 01 pajpqua Xpe2aj suosaad a0 uosaad aq; of ssaoxa ,fue (a) pug ;uatunalsuT X)lanaas slg; fq paanaas stuns pu 0) (q) :saaJ ,sAauao; ;g algeuosgaa '0) palliulj ;ou ;nq Iu►pnjaul 'ales ag1 jo sasuadxa jle o; (e) :aapao 3ulmojjo j aq1 ul papddg aq pugs ales ag) jo spaaaoad aq j -ales Aug ;g ,f)aadoad aq; asugaand Sum aaAsap s)! 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