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HomeMy WebLinkAbout978653Requested by and returned to: Reverse Mortgage Funding LLC Attn: Final Docs 3101 Technology Drive Edmond, OK 730I3 -3734 FHA Case Number: 591 1314359 -961 Loan Number: 1514070141 State of Wyoming See Exhibit "A" Attached Wyoming MRS Security lnsirument (Fixed) 978653 10/2/2014 11:24 AM LINCOLN COUNTY FEES: $42.00 PAGE 1OF 11 BOOK: 840 PAGE: 696 MORTGAGE JEANNE WAGNER, LINCOLN COUNTY CLERK 11111111111111111111111111 1 11111111111111111111111111111111111111111111111111111 [Space Above This Line For Recording Data] FIXED RATE MORTGAGE (HOME EQUITY CONVERSION) THIS MORTGAGE SECURES A REVERSE MORTGAGE LOAN MIN: 101222115140701412 THIS MORTGAGE "Security Instrument is given on September 25, 2014. The mortgagor is Bonnie Block, Surviving Trustee, or her successors in trust, of the Block Family Living Trust, dated July 19, 2007 whose address is 270 Ridgecrest Drive, Star Valley Ranch, WY 83127 ('Borrower This Security Instrument is given to Reverse Mortgage Funding LLC which is organized and existing under the laws of DELAWARE, and whose address is 1455 Broad Street, 2nd Floor, Bloomfield, NJ 07003 "Lender The mortgagee under this Security Instrument is Mortgage Electronic Registration Systems, Inc. "MERS') (solely as nominee for Lender and Lender's successors and assigns) and the successors and assigns of MFRS. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is organised and existing under the laws of Delaware. and has an address and telephone number of P.O. Box 2026, Flint, MT 48501 -2026, tel. (888) 679 -MERS. Borrower has agreed to repay to Lender amounts which Lender is obligated to advance, including future advances, under the terms of a Horne Equity Conversion Loan Agreement dated the same date as this Security Instrument "Loan Agreement The agreement to repay is evidenced by Borrower's Note dated the same date as this Security Instrument "Note This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, including all future advances, with interest, and all renewals, extensions and modifications of the Note up to a maximum principal amount of Three Hundred Fifteen Thousand and 00 /100 Dollars (U.S.$315,000 -00); (b) the payment of all other sums, with interest, advanced under Paragraph 5 to protect the security of this Security Instrument or otherwise due under the terms of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. The full debt, including all amounts described in (a), (b), and(c) above, if not paid earlier, is due and payable on March 17, 2078. 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 Lincoln County, Wyoming: which has the address of 270 Ridgecrest Drive, Star Valley Ranch, WY 83127 "Property Address Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number: 1514070141 Loan Originator NMLS 484530 Page 1 of 9 Bay Docs, LLC 07/21/2014 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, 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 Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered. 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 limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1_ Payment of Principal and Interest. Borrower shall pay when due the principal of and interest on, the debt evidenced by the Note. 2. Payment of Property Charges. Borrower shall pay all property charges consisting, of taxes, hazard insurance premiums, flood insurance premiums, ground rents, condominium fees, planned unit development fees, homeowner's association fees, and any other assessments that may be required by local or state law in a timely manner, and shall provide evidence of payment to Lender. 3. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire. This insurance shall be maintained in the amounts, to the extent and for the periods required by Lender or the Secretary of Housing and Urban Development "Secretary"). Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected, against loss by floods to the extent required by the Secretary, All insurance shall be carried with companies approved by Lender, The insurance policies and any renewals shall be held by Lender and shall include Loss payable clauses in favor of and in a form acceptable to, Lender. In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss to Lender instead of to Borrower and Lender jointly. Insurance proceeds shall be applied to restoration or repair of the damaged Property, 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 first to the reduction of any indebtedness under the Note and this Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser. 4. 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 after the execution of this Security Instrument and Borrower (or at least one Borrower, if initially more than one person are Borrowers) shall continue to occupy the Property as Borrower's Principal Residence for the term of the Security Instrument. "Principal Residence" shalt have the same meaning as in the Loan Agreement. Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number. 1514070141 Loan Originator NMLS 434530 Wyoming MEWS Security Insrrument (Fixed) Page 2 of 9 0 Bay Docs, LLC 07/21/2014 Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. 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 the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 5. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in Paragraph 2. Borrower shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument in the manner provided in Paragraph 13(c). If Borrower fails to make these payments or the property charges required by Paragraph 1 or fails to perform any other 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, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. To protect Lender's security in the Property, Lender shall advance and charge to Borrower all amounts due to the Secretary for the Mortgage Insurance Premium "MIP as defined in the Loan Agreement as well as all sums due to the loan servicer for servicing activities "Servicing Fee as defined in the Loan Agreement. Any amounts disbursed by Lender under this Paragraph and shall become an additional debt of Borrower as provided for in the Loan Agreement and shall be secured by this Security Instrument. 6. Inspection. Lender or its agent may enter on, inspect or make appraisals of the Property in a reasonable manner and at reasonable times provided that Lender shalt give the Borrower notice prior to any inspection or appraisal specifying a purpose for the inspection or appraisal which must be related to Lender's interest in the Property. If the Property is vacant or abandoned or the loan is in default, Lender may take reasonable action to protect and preserve such vacant or abandoned Property without notice to the Borrower. 7. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation, or other taking of any part of the Property, or for conveyance in place of condemnation shall be paid to Lender. The proceeds shall be applied to the reduction of the indebtedness under the Note and this Security Instrument. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Non Borrowing Spouse. Borrower, N /A, is married under the laws of N/A to N/A ("Non-Borrowing Spouse), who is not a Borrower under the terms of the 'Note," "Loan Agreement" or this Security Instrument. Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 4; 1019941 Loan Number; 1514070141 Loan Originator NMLS 4; 454530 Wyoming MERS Security instrument (Fixed) Page 3 of 9 Bay Docs, LLC 07/21/2014 10. Grounds for Acceleration of Debt. (a) Due and Payable Death. (i) Except as provided in Paragraph 10(a)(ii), Lender may require immediate payment in full of all sums secured by this Security Instrument if a Borrower dies and the Property is not the Principal Residence of at least one surviving Borrower. Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 101994] Loan Number 1514070141 Loan Originator NMLS 434530 Wyoming MERS Security Instrument (Fixed) Page 4 of 9 Bay Docs, LLC 07/21/2014 (ii) Lender shall defer the Due and Payable requirement under Paragraph 10(a)(i) above for any period of time ('`Deferral Period in which a Non- Borrowing Spouse identified in Paragraph 9 resides in the Property as [his/her] Principal Residence and all of the following conditions are, and continue to be, met: a. Such Non Borrowing Spouse remained the spouse of the identified Borrower for the duration of such Borrower's lifetime; b. Such Non Borrowing Spouse has occupied, and continues to occupy, the property securing the Note as [his /her] Principal Residence; c. Such Non Borrowing Spouse has established legal ownership or other ongoing legal right to remain in the property securing the Note; d. All other obligations of the Borrower under the Note, the Loan Agreement and this Security Instrument continue to be satisfied; and e. The Note is not eligible to be called due and payable for any other reason. Should any of these conditions for deferral of Due and Payable Status not be met at any time, the deferral of the Due and Payable Status shall cease and the Note will become immediately due and payable in accordance with the terms of the Note. (b) Due and Payable Sale. Lender may require immediate payment in full of all sums secured by this Security Instrument if all of a Borrower's title in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold or otherwise transferred and no other Borrower retains title to the Property in fee simple, or retains a leasehold under a lease for not Less than 99 years which is renewable or a lease having a remaining period of not Iess than 50 years beyond the date of the 100th birthday of the youngest Borrower, or retains a life estate in the Property (or retaining a beneficial interest in a trust with such an interest in the Property). A deferral of due and payable is not permitted when a Lender requires immediate payment in full under this paragraph_ (c) Due and Payable with Secretary Approval. Lender may require immediate payment in fall of all sums secured by this Security Instrument, upon approval of the Secretary, if: (i) The Property ceases to be the principal residence of a Borrower for reasons other than death and the Property is not the principal residence of at least one other Borrower; or (ii) For a period of longer than twelve (12) consecutive months, a Borrower fails to occupy the Property because of physical or mental illness and the Property is not the Principal Residence of at least one other Borrower; or (iii) An obligation of the Borrower under this Security Instrument is not performed. A deferral of due and payable is not permitted when a Lender requires immediate payment in full under Paragraph 10(c). (ii) Pay the balance in full; or (d) Notice and Certification to Lender. Borrower shall complete and provide to the Lender on an annual basis a certification, in a form prescribed by the Lender, stating whether the property remains the Borrower's Principal Residence and, if applicable. the principal residence of his or her Non Borrowing Spouse. Where a Borrower has identified a Non Borrowing Spouse in Paragraph 9, the Borrower shall also complete and provide to the Lender on an annual basis a Non Borrowing Spouse certification, in a form prescribed by the Lender, certifying that all requirements for the application of a Deferral Period continue to apply and continue to be met. During a Deferral Period, the Borrower's annual certifications, required by this Paragraph, must continue to be completed and provided to the Lender by the Non Borrowing Spouse. The Borrower shall also notify Lender whenever any of the events listed in this Paragraph 10(b) and (c) occur. (e) Notice to Secretary and Borrower. Lender shall notify the Secretary and Borrower whenever the loan becomes due and payable under this Paragraph 10(b) and (c). Lender shall not have the right to commence foreclosure until Borrower has had thirty (30) days after notice to either: (i) Correct the matter which resulted in the Security Instrument coming due and payable; or (iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the net proceeds of the sale toward the balance; or (iv) Provide the Lender with a deed in lieu of foreclosure. (t) Notice to Secretary and Non Borrowing Spouse. Lender shall notify the Secretary and any Non Borrowing Spouse identified in Paragraph 9 whenever any event listed in Paragraph 10(b) and (c) occurs during a Deferral Period. (g) Trusts. Conveyance of a Borrower's interest in the Property to a trust which meets the requirements of the Secretary. or conveyance of a trust's interests in the Property to a Borrower, shall not be considered a conveyance for purposes of this Paragraph 10. A trust shall not be considered an occupant or be considered as having a Principal Residence for purposes of this Paragraph 10. (h) Mortgage Not Insured. Borrower agrees that should this Security Instrument and the Note not be eligible for insurance under the National Housing Act within eight (8) months from the date hereof,, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to eight (8) months from the date hereof, declining to insure this Security Instrument and the Note, shalt be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary, 11. No Deficiency Judgments. Borrower shall have no personal liability for payment of the debt secured by this Security Instrument. Lender may enforce the debt only through sale of the Property. Lender shall not be permitted to obtain a deficiency judgment against Borrower if the Security Instrument is foreclosed. If this Security Instrument is assigned to the Secretary upon demand by the Secretary, Borrower shall not be liable for any difference between the mortgage insurance benefits paid to Lender and the outstanding indebtedness, including accrued interest, owed by Borrower at the time of the assignment. Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number. 1514070141 Loan Originator NMLS 434530 Wyoming MERSSecurity Instrument (Fixed) Page 5 of 9 «Bay Docs, LLC 07/21/2014 12. Reinstatement. Iorrower has a right to be reinstated if Lender has required immediate payment in full. This right applies even after foreclosure proceedings are instituted. To reinstate this Security Instrument, Borrower shall correct the condition which resulted in the requirement for immediate payment in full. Foreclosure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure proceeding shall be added to the principal balance. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However. Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two (2) years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future. or (iii) reinstatement will adversely affect the priority of the Security Instrument. 13_ Lien Status. (a) Modification. Borrower agrees to extend this Security Instrument in accordance with this Paragraph 13(a). If Lender determines that the original lien status of the Security Instrument is jeopardized under state law (including but not limited to situations where the amount secured by the Security Instrument equals or exceeds the maximum principal amount stated or the maximum period under which Loan advances retain the same lien priority initially granted to loan advances has expired) and state law permits the original lien status to be maintained for future loan advances through the execution and recordation of one or more documents, then Lender shall obtain title evidence at Borrower's expense. If the title evidence indicates that the Property is not encumbered by any liens (except this Security Instrument, and any subordinate liens that the Lender determines will also be subordinate to any future loan advances), Lender shall request the Borrower to execute any documents necessary to protect the priority of the lien status of future loan advances. Borrower agrees to execute such documents. If state law does not permit the original lien status to be extended to future loan advances, Borrower will be deemed to have failed to have performed an obligation under this Security Instrument. 14. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 15. Successors and Assigns Bound; Joint and Several Liability. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender. Borrower may not assign any rights or obligations under this Security Instrument or under the Note, except to a trust that meets the requirements of the Secretary. Borrower's covenants and agreements shall be joint and several, Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941- Loan Number: 1514070141 Loan Originator NMLS 434530 Wyoming ir1ERSSecurily Instrument (Fixed) Page 6 of 9 0 Bay Does, LLC 07/21/2014 (b) Tax Deferral Programs. Borrower shall not participate in a real estate tax deferral program, if any liens created by the tax deferral are not subordinate to this Security Instrument. (c) Prior Liens. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender: (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to all amounts secured by this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within ten (10) days of the giving of notice. 16. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable Iaw requires use of another method. The notice shall be directed to the Property Address or any other address all Borrowers jointly designate. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice to a Non Borrowing Spouse provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower, Lender or Non Borrowing Spouse when given as provided in this Paragraph 16. 17. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 18. Borrower's Copy. Borrower shall be given one conformed copy of the Note and this Security Instrument. 19. Third -Party Beneficiary. Except as set forth in Paragraph 10(a)(ii) and only for an identified Non Borrowing. Spouse in this document, this Security Instrument does not and is not intended to confer any rights or remedies upon any person other than the parties. Borrower agrees that it is not a third -party beneficiary to the Contract of Insurance between HUD and Lender. NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 20. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by this Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this Paragraph 20. Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by this Security Instrument is paid in full. 21. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 10, Lender at its Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number: 1514070141 Loan Originator NMLS 484530 Wyoming :IRS Security Instrument (Fixed) Page 7 of 9 By Docs, LLC 07/21/2014 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 Paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with applicable law. Lender shall give notice of the sale to Borrower in the manner provided in Paragraph 16. 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 following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons Iegally entitled to it. 22. Lien Priority. The full amount secured by this Security Instrument shall have the same priority over any other liens on the Property as if the full amount had been disbursed on the date the initial disbursement was made, regardless of the actual date of any disbursement. The amount secured by this Security Instrument shall include all direct payments by Lender to Borrower and all other loan advances permitted by this Security Instrument for any purpose. This lien priority shall apply notwithstanding any State constitution, law or regulation, except that this lien priority shall not affect the priority of any liens for unpaid State or local governmental unit special assessments or taxes. 23 Release. Upon payment of all sums secured by this Security Instrument, Lender shalt release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under applicable law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. 25. Obligatory Loan Advances. Lender's responsibility to make Loan Advances under the terms of the Loan Agreement, including Loan Advances of principal to Borrower as well as Loan Advances for interest, MIP. Servicing Fees, and other charges shall be obligatory. 26. Nominee Capacity of MERS. MERS serves as Mortgagee of record and secured party solely as nominee, in an administrative capacity, for Lender and its successors and assigns and holds legal title to the interests granted, assigned, and transferred herein. All payments or deposits with respect to the Secured Obligations shall be made to Lender, all advances under the Loan Documents shall be made by Lender, and all consents, approvals, or other determinations required or permitted of Mortgagee herein shall be made by Lender. MERS shall at all times comply with the instructions of Lender and its successors and assigns. If necessary to comply with law or custom, MERS (for the benefit of Lender and its successors and assigns) may be directed by Lender to exercise any or all of those interests, including without limitation, the right to foreclose and sell the Property, and take any action required of Lender, including without limitation, a release, discharge or reconveyance of this Security Instrument. Subject to the foregoing, all references herein to "Mortgagee" shall include Lender and its successors and assigns. 27. Riders to this Security Instrument. If one or more riders arc executed by Borrower and recorded together with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number: 1514070141 Loan Originator NMLS 434530 Wyoming- ,LEERSSecuritylnrtrement (Fixed) Page 8 of 9 Bay Docs. LLC 07/21/2014 Instrument. {Check all riders that are applicable_] BY SIGNNG BELOW, Borrower accepts and agrees to the terms contained in this Security Instrument and in any rider(s) executed by Borrower and recorded with it.. BONNIE BLOCK (BORROWER) BONNIE BLOCK, SURVIVI G TRUSTEE State of Wyoming l County is instrument was nowledged before me on September 25, 2014 by Bonnie Block (name(s) of person(s)) (Signature of notarial officer) Title (and Rank): f.L ���(ZC�,I0.6 C My commission expires: if any) Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number. 1514070141 Loan Originator NMLS 434530 Wvoruing MERS Security Instrument (Fixed) TERESA K. ANDERSON NOTARY PUBLIC County of State of Lincoln G S Gi Wyo ing My Commission Expires 7 b i e' Page 9 of 9 Bay Does. LLC 07/31/2014 Condominium Rider X PUD Rider Shared Appreciation Rider Other Instrument. {Check all riders that are applicable_] BY SIGNNG BELOW, Borrower accepts and agrees to the terms contained in this Security Instrument and in any rider(s) executed by Borrower and recorded with it.. BONNIE BLOCK (BORROWER) BONNIE BLOCK, SURVIVI G TRUSTEE State of Wyoming l County is instrument was nowledged before me on September 25, 2014 by Bonnie Block (name(s) of person(s)) (Signature of notarial officer) Title (and Rank): f.L ���(ZC�,I0.6 C My commission expires: if any) Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number. 1514070141 Loan Originator NMLS 434530 Wvoruing MERS Security Instrument (Fixed) TERESA K. ANDERSON NOTARY PUBLIC County of State of Lincoln G S Gi Wyo ing My Commission Expires 7 b i e' Page 9 of 9 Bay Does. LLC 07/31/2014 FHA Case Number: 591 1314359 -961 Loan Number: 1514070141 THIS PLANNED UNIT DEVELOPMENT RIDER is made on September 25, 2014, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument of the same date given by the undersigned ("Borrower") to secure Borrower's Note to Reverse Mortgage Funding LLC, "Lender of the same date and covering the Property described in the Security Instrument and located at: The Property is a part of a planned unit development (PUD) known as: Star Valley Ranch PUD COVENANTS_ In addition to thee covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. So long as the Owners' Association (or equivalent entity holding title to common areas and facilities. acting as trustee for the homeowners, maintains, with a generally accepted insurance carrier. a "master" or "blanket" policy insuring the property located in the PUD, including all improvements now existing or hereafter erected on the mortgaged premises, and such policy is satisfactory to Lender and provides insurance coverage in the amounts. for the periods, and against the hazards Lender and the Secretary require, including fire and other hazards included within the term "extended coverage," and loss by flood, to the extent required by the Secretary, then: (i) Lender waives the provision in Paragraph 2 of this Security Instrument for the payment of the premium for hazard insurance on the Property, and (ii) Borrower's obligation under Paragraph 3 of this Security Instrument to maintain hazard insurance on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners' Association policy. Borrower shall give Lender prompt notice of any Iapse in required hazard insurance coverage and of any loss occurring from a hazard. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Property or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by this Security Instrument, with any excess paid to the entity legally entitled thereto. B. Borrower promises to pay all dues and assessments imposed pursuant to the legal instruments creating and governing the PUD. C. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph C shall become additional debt of Borrower secured by the 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. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider. yra 94 BONNIE BLOCK (BORROWER) BONNIE BLOCK, SURVIVIN TRUSTEE 1" PUD Rider PLANNED UNIT DEVELOPMENT RIDER 270 Ridgecrest Drive, Star Valley Ranch, WY 83127 Reverse Mortgage Funding LLC Loan Originator: Bob Kopcha Company NMLS 1019941 Loan Number: 1514070141 Loan Originator NMLS 434530 Page 1 of 1 Bay Does, LLC 07/16/2014 NTL -68610 "ElalIBIT A" ALL OF LOT 82 OF STAR VALLEY RANCH PLAT 14, LOCATED IN LINCOLN COUNTY, WYOMING, ACCORDING TO THE OFFICIAL MAP AND PLAT THEREOF FILED AUGUST 10, 1977 AS INSTRUMENT NO. 496705 IN THE OFFICE OF TIIE LINCOLN COUNTY CLERK.