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After Recording Return To:
PLAGSTAR BARR
5151 CORPORATE DRIVE
TROY, MI 48098
FINAL DOCUMENTS, MAIL STOP W -535 -1
\°‘A \O
\3 V1 WBCD LOAN If 504208022
979283 11/12/2014 4:32 PM
LINCOLN COUNTY FEES: $42.00 PAGE 1OF 11
BOOK: 843 PAGE: 291 MORTGAGE
JEANNE WAGNER, LINCOLN COUNTY CLERK
I 1111111 1111111111 11111 111 1 111111111 111111111 1111111111 111111111 11 1 111 1111 1111
ESpece Above This Lino For Recording Data]
M d RTGAGE
IV►IPi 10114632014Q930.0,02
MERS PHONE 4: 1- 888679 -6377
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13,
18, 20 and 21. Certain rules regarding the usage of Words used in this document are also provided in Section 16.
(A) "Security Instruient" means this document, which is dated NOVEMBER 12, 2014 together with
all Riders to this document.
(B) "Borrower" is MICEIAEL R sLABAUGH.
Borrower is the mortgagor under this Security Instrument.
(C) "NIERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as
a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument.
MERS is organized and existing under the laws of Delaware, and has an address and 'telephone number of P.O. Box
2026, Flint, MI 48501 -2026, tel. (888) 679-MERS.
(D) "Lender" is WEBER STATE FEDERAI, CREDIT UNION.
Lender is a CREDIT UNION, organized and existing
Lender's address is
under the laws of tJTArs
4140 SARRI5ON BLVD, OGDEN, UT 84403.
(E) "Note" means the promissory note signed by Borrower and dated NOVE 12, 2014. The Note
states that Borrower owes Lender **ONE SUNDRED NINETY EIGEHT TSOt7SRND FOUR HUNDRED AND NO /10;
*+t, A- **,r *Or* *a Dollars (U.S. $198,400.00
plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later
than DECEMBER 1 2029.
(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property."
(G) "Loan" means the debt evidenced by the.Note, plus interest, any prepayment charges and late charges due under
the Note, and all sums due under this Security Instrument, plus interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
executed by Borrower [check box as aPPlicabie]: I ISecond Home Rider
1 IAdjustable Rate Rider I ICohclominium Rider
0 Balloon Rider I x I Planned. Unit Development Rider I I Other(s) [specify]
1 -4 Family Rider I I Biweekly Payment Rider
OVA Rider
(I) "Applicable Law" means all controlling applicable federal, state and :local .statutes, regulations, ordinances and
administrative rules and orders that have the effect of law) as well as all applicable final, nod appealable judicial opinions.
(J) "Community Association Dues, Fees, •and.Assessrrients" means' all:dues assessments and other charges that
are imposed on Borrower or the Property by e condominium association; horpeowners association or sirriilar organization.
(K) "Electronic Funds Transfer" means anytrarisferoffunds, otherthan:a:transactiori originated by check,' draft; or
similar paper instrument, which is initiated through an e.lectronicterminal; telephonic instrument, computer; or Magnetic
tape so as to order, instruct, or authorize.a financial institution to debit or credit an Such'term includes, but is
not limited to, point-of -sale transfers, automated teller machine transactions, transfers initiated by telephone, wire
transfers, and automated clearinghouse transfers.
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(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds" means any compensation, settlement, awarci, 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 any part of the Properly; (iii) conveyance in lieu
of condemnation; or (iv) misrepresentations of, or omissions as to, the value'arnd /or condition of the Property.
(N) "Mortgage Insurance" means insurance protebtirig Lender against the nonpayment of, or default on, the Loan.
(0) "Periodic Payment" 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.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U:S.C. §2601 et seq.) and its implementing
regulation, Regulation X (24 C.F.R. Part 1024), 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 Instrurent, "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.
(Q) "Successor in interest of Borrower" 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 Securitylnstrurnent secures to Lender: (i) the repayrnent ofthe Loan, and all renewals, extensions and modifications
of the Note; and (ii) the performance of Borrower's covenants and agreements.iander. this Security iristnirnent and the
Note. For this purpose, Borrower does hereby mortgage, grant and convey to, MFRS (solely as nominee for Lender and
Lender's 'successors and assigns) and to the successors and assigns of with power :Of sale, the following
described property located in the cotrn'1:Y [Type of Recording Jurisdiction] Of
LINCOLN [Name of Recording Jurisdiction]:
PLAT THIRTEEN (13) LOT FOR'T'Y —NINE (49) IN STAR VALLEY RANCH AS PLATTED AND RECORDED TN
THE OFFICIAL RECORDS OF TEE LINCOLN COUNTY WYOMING.
APN ti: 1235183220200
which currently has the address of 1442 VISTA DR, STAR VALLEY RANCE
Wyoming 83127 -8015 "Property Address
[Zip Code]
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
and fixtures now or hereaftera part of the property. All replacements and a dditions•shall•also be covered: bythisSecurity
Instrument. All of the foregoing is referred to in this Security Instrumental the• "Property." Borrower understands and
agrees that MERS holds only legal title to• the interests granted by Borrower in this Security Instrument, but, if necessary
to comply with law or custom, MERS (as norninee for Lender and Lender's successors and assigns) has the right: to
exercise any or all of those interests, including, but not limited to, the rightto foreclose and sell the Property; and to take
any action required of Lender including, but not limited to, releasing and canceling this Security Instrument.
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, 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
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, Interest, Escroinr.Items, .Prepayment Charges, a and Late Charges. Borrower shall pay
when due the principal of, and interest on, the debt evidenced bythe Note anaanyprepaymentcharges and late charges
due under the Note. Borrower shall also pay funds for Escrow Items pUrsuahtto Section 3. Payments due under the
Note and this Security Instrument shall be rrlade in U.S. currency. However,•.if any check or other•instrurrlent•received
by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may.require that
anyor all subsequent payments due under the Note and this Security instrument be made in one or more ofthefdllowing
forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, hank 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 Lenclerwheri received at the location designated in the Note or at such other
location as may be designated by Lender in accordance with the notice prgvisioris in Section15. Lender may return any
payment or partial payment if the payment or partial•payments are insufficient to .bring the Loan current: Lender may
accept any payment or partial payment insufficient.to.bring the Loan current; withoutwaiver of any rights hereunder or
prejudice to its rights to refuse such payment or partial payments in.thefuture; but Lender is not obligated to apply such
payments at the time such payments are acceptecli If each. Periodic Paymeritisapplied as of its scheduled due date,
then Lender need not pay interest on unappliecl':luhds. Lender may hold suoh:unapplied funds until Borrower'makes
payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shalt either
apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal
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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 Borrowerfrom 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 iri the.following order of priority: (a) interest due under the Note; (b) principal
due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the
order in which it became due. Any remaining amounts shall be applied firstto late charges, second to any otherarnounts
due under this Security Instrument, and then to reduce the principal balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount
to pay any late charge due, the payment may be applied to the delinquent payment and the fete charge. If more than
one Periodic Payment is outstanding, Lender may apply any payment received frorn'Borrower to the 'repayrnent of the
Periodic Payments if, and to the extentthat, each payment can be paid in full. To the extent that any excess exists after
the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied teeny late
charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall
not extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow items_ Borrower shall pay to Lender on the clay Periodic Payments are due under the Note, until
the Note is paid in full, a sum (the "Funds to provide.forpayrnent of amounts due for: (a) taxes and assessments and other
items which can attain priority over this Security Instrument as a lien or encurnb rariceon the Property; (b) leasehold payments
or ground rents on the Property, if arty; (c) premiums for any and all insurance required by Lender under Section 5;-..and (d)
Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
Insurance premiums in accordance with the provisions of Section 10. These iter is are called "Escrow;Iterns." At Origination
or at any time during the term of the Loan, Lender may require that Community Association Dues, Fee.s, and
if any, be escrowed by Borrower, and such dues, fees and assessments shall bean Escrow Item. Borrower shall promptly
furnish to Lender all notice of amounts to be paid under this Section. Borrowershall pay Lender the•FUnds for Escrow Items
unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender rriay•waive Borrower's
obligation to pay to Lender Funds for any or all Escrow items at any time. Any such waiver may only in writing, In ti le event
of such waiver, Borrower shall pay directly, when and where payable, the arriquritsdue for any Escrow•Items for which
payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such
payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide
receipts shaflfor all purposes be doeined to be a covenant and agreementcontained in this Security l nstrument, asthe phrase
"covenant and agreement" is used in Section 9. if Borrower is obligated to pay Escrow items directly, pursuant to awaiver,
and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise 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 a notice given in accordance with Section 15 and, upon such revocation,
Borrower shall pay to Lender all Funds, and in such amounts, that are then required'under this Section 3.
Lender may, at any time, collect and hold Furids in an amount (a) sufficientto permit Lender to apply the Funds at
the time specified under RESPA, and (b) notto exoeed the maximum amoUrita lender can regUire under RESPA: Lender
shall estimate the amount of Funds due on the basis of current data and reasonable estirhates of expenditures of future
Escrow Items or otherwise in a000rdance 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 arty Federal Home Loan Sank. Lender shalt
apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall.not charge Borrower
for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrowltems, unless Lender
pays Borrower interest on the Funds and Applicable Law permits Lender to make.such a charge. Unless an agreement is
made in writing or Applicable Law requires interest to be paid on the Funds; Lender shall not be requires! to pay Borrower
any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interestshall be paid
on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as. required by RESPA.
Ifthere is asurplus of Funds held in escrow, as defined under RESPA, Lendershall accountto Berrowerforthe excess
funds in accordance with RESPA. Ifthere is a shortage 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 shortage in
accordance with RESPA, but in no m orethan 12 monthly payments. Ifthere is a.deficiencyof Funds lield.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 Burns secured by this Security Instrument, Lendershall promptly refund to Borrower any
Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
Property which can attain priority over this Securitylnstrument, leasehold payrrierits or ground rents on the Property,
if any, and Community Association Dues, Fees, and Assessments, if any. To the extentthatthese 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 in 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 lien in good.faith•by, or defends against enforcement of the
lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those
proceedings are pending, but only until such proceedings are concluded; or (0) secures from the holder of the lien an
agreement satisfactory to Lender subordinating the lien.to this Security Instrument. if Lender determines that,any part
of the Property is subject to a lien which can attain priority over this Security Instrument, Lender tray give Borrower a
notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien Ortake
one or more of the actions set forth above in this Section 4,
Lender may require Borrower to pay a one-time .ch arg e for a real estate taxverification 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 inclucied•within the tern "extended coverage," and any other hazards including,
but not limited to, earthquakes and floods, "forwhieh Lender requires insurance. This insurance shall be maintained in
the amounts (including deductible levels) and'forthe.periods that Lender requires. What Lender requires pursuant to
the preceding sentences can change during the.:terrn of the Loan. The•inSUrance carrier providing the.insurance shall
be chosen by Borrower subject to Lender's right to :disapprove Borrower's choice, which right shall not exercised
unreasonably. Lender may require l3orrowerto pay, in connection with this Loari, either: (a) a one -time chargeforflood
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zone determination, certification and tracking services; or (h) a one -time charge for flood zone determination and
certification services and subsequent charges each.time remappings or similar changes occur which reasonably might
affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by
•the Federal Emergency Management Agency in connection with the review of any flbod zone determination resulting
from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's
option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage.
Therefore, such coverage shall cover Lender, but might or alight 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 titan was
previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained Might significantly.exceed
the cost ofins urarice that Bo mower could have obtained. Any amou nts.disbursed by lender uhd ertiils Sectibri 5 shall become
additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest-at the Note rate•fi om the
date of disbursement and shall he payable, with such Interest, upon notice from Lender to Borrower requesting payment.
All insurance policies required by Lender arid renewals of such policies shall be subject to Lender's 'right to
disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and /or as
an additional loss payee. Lender shall have the right to hold the policies and renewal' certificates. if Lender requires,
Borrower shall promptly give to Lender all receipts of paid prerriiums and renewal notices. If Barrower'obtains any form
of insurance coverage, not otherwise required by Lender, for damage to, or destruction of the Property such policy shall
include a standard mortgage clause and shall name Lender as mortgagee arid /or as an additional loss payee:
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
toss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurahce, proceeds,
whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if
the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such
Property to ensure the work has been completed to Lender's satisfaction, providedthatsuch inspection shall be Undertaken
promptly. Lender may disburse proceeds for the repairs and restoration in a• single payment or in :a series :of progress
payments as the work is completed. Unless an agreement is made in writing orApplioable Law requires interest to be paid
on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamings on such proceeds: Fees
for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall
be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be
lessened, the insurance proceeds shall be applied to the sums secured by this Security lnstrument,whether or notthendue,
with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order providecl•for in Section 2.
If Borrower abandons the Property, Lender mayfile,•negotiate.and settle a ny.'available claim and related
matters. If Borrower does not respond within 80 days`to a notice from Lender tl7at.the insurance carrier has offered to
settle a claim, tlren Lender may negotiate and settle 'the claim. The 30 -day •period will begin when the•notice is•:given.
In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender
(a) Borrower's rights to any insurance proceeds in an amount not to exceedthe amounts unpaid uhder the Note•orthis
Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums
paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the
coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay
amounts unpaid under the Note or this Security instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence.within
60 days after the execution of this Security Instrument and shall continue to occupythe 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.
7_ Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
damage or impair the Property, allow the Property to deteriorate or commit 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 repair or
restoration is not economically 'feasible, L3orrowi rshall promptly repairthe Property ifdarnaged to avoidfurther.deteribration
or damage. If insurance or coridernnation proceeds ;are paid in connectieii wit .darnage to, orthe taking:et the Property,
Borrower shall be responsible repairing restoring the Properly only if Lender has released proceedsfor.•such purposes.
Lender may disburse proceeds for the repairs and restoration in a single.payment or in a series ofprogress payments
as the work is completed. if the insurance or conderrination proceeds are net suffoieritto 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 ofthe 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 application 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 (orfailedto provide Len der with material inforrriation)
in connection with the Loan. Material representations include, but are .not limited to, representations concerning
Borrower's occupancy of the Property as Borrower's•princlpal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security instrument: If (a) Borrowerfails
to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might
significantly affect Lender's interest in the Property and /or rights under this Security Instrument (such as•a proceeding in
bankruptcy, probate, "for condemnation or forfeiture, for enforcement of alien which may attain priority over this Security
instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property;'then Lender•rriay.do and'payfor
whatever is reasonable or appropriate to protect Lender's interest iri the Property and rights underthia'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 sums secured by a lien •.whioli' has priority over this Security:lnstrument;
(b) appearing in court; and (c) paying reasonable attorneys" to protect its interest in the Property and /or rightsunder
this Security Instrument, including its secured positio.:h iri a• bankruptcy proceeding: Securing the Property includes; but is
not limited to entering the Property to makerepr:iirs,.Change locks; replace or.board•up doors and windows; dtainwaterfrom
pipes, eliminate building or other codeviolations or dangerous conditions, and have utilities turned on or. off; Althougl:i'.Lender
may take action under this Section' 9, Lender ddes'not have to do so and :is'not:urider any duty or obligation to do.so. it is
agreed that Leader incurs no liabilityfor,not•.taking _any or•all aotions'authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
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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.
Ifthis Security Instrument is on.a leasehold, Borrower shall complywith•all•the provisions of the lease. Borrower shall
notsurrenderthe leasehold estate and interests herein conveyed or terminate or cancel theground lease. Borrower shall
not, without the express written consent Of Lender; alter or amend the ground 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.
10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Leah, Borrower shall pay
the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage:lnsurande 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 tovJard the premiums for Mortgage insurance, Borrower shall pay
the premiums required to obtain coverage substantially equivalent to the Mortgageinsurahce previously in effect, at a'cost
substantially equivalent to the cost to Borrower of the Mortgage Insurance prevlously'in effect; from, ari alternate Mortgage
insurer selected by Lender. If substantially equivalentMortgagc Insurancecoverage,is not available; f3orrowershall continue
to pay to Lender the arnount of the separately designated payments•thatwere due when the insurance coverage., ceased
to be in effect Lender will accept, use.arnd retain these payrrients as•a non refundable loss reserve in lieu of Mortgage
Insurance. Such foss reserve shall be non refundable; ricitwithstanar o het if the L e Le iS .u1t ca lodger a uire d
Lender shall not be required to pay Borrower any interest or earning s n such l re
Toss reserve payments if Mortgage Insurance: coverage (in the amount andfor•th_e period that Lender requires) provided by
an insurer selected by Lender again becomes available, is obtained, and Lender'requires separately designated payments
toward the premiums for Mortgage insurance- if Lender required Mortgage Insurance as a condition of making the.Loari and
Borrower was required to make separately designated paysnenistowardtho :premiumsforMVlortgage .Insurance, Borrower
shall pay the premiums required to maintain Mortgage lnsui;ande in effect, orto'.piovide a non refundable loss reserve, until
Lender's requirementforMortgage lnsurance ends in accordance with e �w Nothing agr nthisSection e ridt
providing for such 'termination or un til termination is required by App abl
obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
Mortgage insurers evaluate their total risk on all such insurance in force from•time to time, and may enter into
agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
conditions that are satisfactory to the mortgage irnsurer*and the 'other• party!.(or, parties) to these These
agreements may require the mortgage insurer to make payments using anysourbe offundsthatthe mortgage insurer
may have available (which may include funds obtained r 'orr i e a r emiu seinsurer, any other
As a result of these agreements, Lender, any p
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 Borr'ower's payments for Mortgage Insurance, in exchange for sharing or modifying the
mortgage insurer's risk, or reducing losses. If such agreement provides that'an affiliate of Lender takes a share'of the
insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive
reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to -pay for Mortgage
Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
Mortgage Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has if any with respect to tha Mortgage
Insurance under the Homeowners Protection Act of 1998 orany other•.law. Thiese rights may iricltide thie=rigtit'to
receive certain disclosures, to request and obtain cancellation of the Mortgage lnsurance, to have the MVloi-tgage
Insurance terminated automatically, and /or to receive'a refund of any Mortgage Insurance premiums that were
unearned at the time of such cancellation or termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
shall be paid to Lender.
If the Properly is damaged, such Miscellaneous Proceeds shall be applied -to restoration or repair•of the Property, if the
restoration or repair is economicallyfeesible and Lender's security is rnotlessened: During such repair arid restoration.period,
Lender shall havetherightto hold such Miscellaneous Proceeds until.Lender had an opportianitytoirispectsuch Property
to ensure th e work has been completed to Lender's satisfaction, provideelthatsush inspection shall be undertaken promptly.
Lender may pay for the repairs and restoration in a.single disburrseme�n`o run es rotes of to be paid ayrn ch•M steelwork is
completed. Unless an agreement is made in writing or Apps q
Proceeds, Lender shall not be required to pay Borrower any interest or earnings.,on such Miscellaneous Proceeds. If the
restoration or repair is not economicallyfeasible :sor•Lender's security:would.be1essened, the Miscellaneous. Proceeds shall
be applied to the sums secured by this Security Instrumennt eithether.or nbt;•then':due, With'the excess, if any, paid to Borrower.
Such Miscellaneous Proceeds shall be applied in theorder provided foriri Section 2.
In the event of atotal taking, destruction, or loss in value of the Property) the Miscellaneous Proceeds.shall be applied
to the sums secured by this Security Instrument, whether or not then due; with'the excess, if any, paid-to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which thefairmarketvalue ofthe Property
immediately before the partial taking, destruction, or loss in value is equal 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 amountofthe sums 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.y balance shall ;be:paid to Borrower.
In the event of a partial taking, destruction, or loss in yelp e ofthe Property inwhich the fair marketvalue.ofthe Properly
immediately before the partial taking, destruction, or loss in value is• less: than the amount of ;sums secured
immediately before the partial taking, destruction, or. toss in value, unless 'Borrower and Lender. otherwise' agree in
writing, the Miscellaneous Proceeds shall be.-applied to the sums secured by this Security lnstrurilentwhether or not
the sums are then due.
lfthe Property is abandoned by Borrower, or If by Lenderto Borrowerthatthe Opposing Party (as defined
in the next sentence) offers to make an award to settfea.elairri•:for.damages Borrower fails to respond to Lender within
30 days after the date the notice is given; Len der: is:auiihorizedto colleet:and;applythe Miscellaneous Proceeds: either
to restoration or repair of the Property or to the surrms secured by this Security.lnstrument, whether or not then due.
"Opposing Party" means the third party that owes Borrower (Miscellaneous Proceeds or the party against `whom
Borrower has a right of action in regard to Miscellaneous Proceeds.
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Borrower shall be in default if any action orproceeding, whether civil or criminal; is begun that, in Lender's judgment,
could result in forfeiture of the Property or other material iinpairrnent of,L:ender's. interest in the Property, or rights under
this Security Instrument. 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.disinissed 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 theimpairment 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 Nat a. Waiver: Extension of the time for payitient or
modification of amortization of the sums secured .bythis Security• lnstrument.granted by Lender to Borrower or any
Successor in Interest of Borrower. shall not operate td release the liability of Borrower or•any Successors. in Interest of
Borrower. Lender shall not be required to commence proceedings •against any Successor in Interest of•Borrower or to
refuse to extend time for payment or otherwise modify arnortizatlon ofthe sums secured this Security Instrument by
reason of any demand made by the original Borrower or any Successors iri Interest of. Borrower. Any. forbearance by
Lender in exercising any right or remedy-including, without limitatibri, Lender's acceptance of payments from third
persons, entities orSuccessors in Interest of Borrower or in amounts less than the amountthen due,•shall notce awaiver
of or preclude the exercise of any right or remedy..
13. Joint and Several Liability; Consigners; 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 drily to mortgage,
grant and conveythe co- signer's interest in the Property under the terms ofthis Security lrist'rument; (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 terrns of this Security Instrument or
the Note without the co- signer's consent.
Subject to the provisions of Section 18, anySuccessor in Interest of.Borrower who assumes Borrower's:obiigations
under this Security Instrument in writing, and is, approved by L•ender,.shall obtain all of Borrower's rights and benefits
under this Security Instrument. Borrower shall not be released .frorn obligatioris.•and liability under'this
Security-Instrument unless Lender agrees to such refeasc•iri writing. The:covenants- and'agreements•of this Security
Instrument shall hind (except as provided in Section 20) :and berietiit.the ;successors Arid assigns of Lender.
14. Loan Charges: Lender may charge Bo'rrowerfees for services performed in connection with Borrower's default, for
the purpose of prdtecting Lender's interest in the Prepertyand.rights undertriis Instrument, including, butnotlimited
to, attorneys' fees, property inspection and valuation fees: In regard to any other the absence of express authority in
this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on e argi g of such
fee. Lender may,not charge fees that are expressly prohibited by this Security instrument or by App cabl
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted.sothat the interest
or other loan charges collected or to be collected in connection with the Loari exceed the permitted lirnits,'then: (a) any
such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; arid any
sums already collectedfrom Borrower which exceeded permitted limits will be refunded to Borrower.. Lenderrinaychoose.
to make this refund by reducing the principal owed under the Note or by making adirectpaymentto Borrower. Ifarefund
reduces principal, the reduction will be treated as a partial prepaymentwithoutany prepayment charge (whether or not
a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct
payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in connection with th'LI.s Securitylnstrurrient:rnustbe.in writirig.Any
notice to Borrower in connection with this.Security lristrumentshall be deeemed.tohave given to Borrbwer.wheri mailed
byfirst class mail or when actually delivered to Borrowcr'S notice :ad dressSf sent by other means Notice to any Borrower
shall constitute notice to all Borrowers.unless.Applicable.Law expressly:. requiresotherwise. The notice address.'shail,be the
Property Address unless Borrower has desigriated.asubstitute notice address by noticetv.Lender:'Borrowershall promptly
notify Lender of'Borrower's change of address. If Lenderspecifies a procedure forrepo.rting Borrower's change of address,
then Borrower shall only report a change of ad'dress•through that specified• procedure.' There may be;orily one designated
notice address u.n derth is Security instrument at any onetime. Any notieeto..L- enderShall by given bydelivering i1 or.bymailing
it by first class mail to Lender's address stated Herein unless Lender has designated .another address by.no'ticeto•Borrower.
Any notice in connection with this Security lnstrurnentshall riotbe deem edtohavebeen given to Lender until actuallyreceived
by Lender. If any notice required by this Security Instrument is also.requirediinder Applicable Law, the Applicable Law
requirement will satisfy the corresponding requirerrienturider this Security Instrument
16. Governing Law; Severability; Rules of Construction. This Security instrument shall be governed byfederal
law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security
Instrument are subject to any requirernents and limitations of Applicable Law. Applicable Law.rni.ght.explicitly orirriplicitly
allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against
agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with
Applicable Law, such conflict shall not affect other provisions of this Security Instrument orthe Note which can be given
effect without the conflicting provision.
As used in this Security Instrument: (a) words ofthe masculine gendershall'mean and include corresponding neuter
words or words of the feminine gender;•(b) words in'the.singularshal.l rnean and:incliidethe plural and vice versa; and
(c) the word "may" gives sole discretion with out,any obligation to :take'anYaction.
17. Borrower's Copy. Borrower shall be given.o.ne Dopy of the Note: and. ofthis• Security Instrument.
18. Transfer of the Property er a•BeneficiUI Interest. in B.orrower::.As, used in this Section 18, '1nterest in the
Property" means any legal or beneficial interest in the Property, including; but-riot limited to those beneficial'iriterests
transferred in a bond for deed, contract for deed ;.•iristal[rrient sales contract dr-escrow agreement, the 'Intent of which
is the transfer of title by Borrower at a=firture date •to a.purchaser.
If all or any part of the Property or any•Interest iri the Property is sold,ortransferred (or if Borrower is not a natural
person and a beneficial interest iri. Borrower: is, sold or transferred). without Lender's prior written consent, Lender may
require immediate payrrierrt in full cif all sums secured. hythis.'Security =lnstrtinient. However, this option shall:'riot be
exercised by Lender if such exercise is prphibited.by Applicable. Law.
If Lender exercises this option, Lender shall,give. of; acceleration. The notice shall provide a:period
of not less than 30 days from the date;the noticc:.is given in accordance..iiiith Sectioii'.1S.within'which Borrower mristpay.
all sums secured by this Security lristrurnent. If to pay these Burris priorto:the expiration ofthis'.period,
Lender may invoke any remedies permitted by this Security lnstrurrientwi'thout'further notice or demand on Borrower.
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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 atanytirne.priorto the earliest of; (a) five days before sale
of the Property pursuant to any power ofsale contained in this Security Instrument; (b).sucti other period as Applicable Law
might specify for the termination of Borrower's.rightto reinstate; or (c) entry of aji.idgment enforcing this Security Instrument.
Those conditions are that Borrower: (a) pays Lender allsbMs which then.would be•due tinder•this Security Instrument and
the Note as ifno acceleration had occurred; (b) mires any default ofanyother covenants or agreements; (c) pays allexpenses
incurred in en this Security Instrument; including, but riot limited to, reasonable attorneys' fees; property inspection
and valuation fees, and other fees incurred for the purpose of protectirigtencler's•interestinthe Properly and rights under
this Security Instrument; and (d) takes' such action ee Lender may reasonably require to assure that Lertder'sinterest in the
Property and rights under this Security Instrument, and' Borrower's obligation to pay sums secured by this Security
Instrument, shall continue unchanged. Lender rnay require.thatBorrower pay Spell reinstatement surris and expenses in one
or more of thefollowing forms, as selected by Lender: (a) cash ;'(b) moneyorde'r; (c) :certified check; bank check, treasurer's
check or cashier's check, provided any such check is drawn upon in institution whose deposits are insured. by a federal
agency, instrumentality or entity; or (d) Electronic Funds.Trarisfer; Upon reiristatemertt.by Borrower, thie Instrument
and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However; this rightto reinstate
shall not apply in the case of acceleration.urider Section 18.
20. Sale of Note; Change of Loan Servitor; Notice of Grievance. The No'te or a partial interest.in the Note (together
with this Security Instrument) can be sold ono or more tirnes withceit prior noticeto•BorroWer; A sale mightresalt in a.change
in the entity (known as the "Loan Serviber that collects Periodic Payments. due uriderthe;Note arid thisSecurity Instrument
and performs other mortgage loan servicing obligations undr'rthie Note, this SeciaritOristrtiinentandAPpliCabJeLaWi There
also might be oneormoreohangesof• the- LoanServicerunrelatedtoasaleoftheNote :lfthereisachangeaf heLoanServioer,
Borrower will be given written notice of the change which will state the of tits view Loari'Serv'icer, the
address to which payments should be made and any requires Cn connection with a notice oftransfer
of servicing. If the Note is sold and thereafter the Loan. is. serviced bye Leah Servicer otilerthen:thie purchaser 'of the Note,
the mortgage loan servicing obligations' to BorroWerwtli rernairiwith the Loan Servi or be transferred to a:successor Loan
Servicer and are not assumed by the Note p ureliasel unless otherWlse provided by the Note purobasar
Neither Borrower nor Lender rriay commence, join, or be joined to any judicial action (as eitheran°iedividu'al.litigant
or the member of a class) that arises 'from the•other party's actions pursuaritto this: Security instrument or that aUeges
that the other party has breached any provision of or any duty owed ley reason Security instrument; until such
Borrower or Lender has notified the other party (with such notice given in= oornpliancewith .thie•requirements'of'Section
15) of such alleged breach and afforded the other party hereto a reasonable period after th e givin g ofsuch ri otice to take
corrective action. If Applicable Law provides a time period which'iriust elapsebefore certain action can be taken, that
time period will be deemed to be reasonable: for purposes of this paragraph: Thenotice of 'acceleratlor{ and opportunity
to cure given to Borrower pursuant to Section 22 and'the notice of acceleration: given to Borrower'pursuarit to Section
18 shall be deemed to satisfy the notice anti opportunity to take corrective, a ctione provisions of this Section 20,
21. Hazardous Substances. As used inthis Section 21: (a) "Hazardous Substances are those substances defined as
toxic or hazardous substances, pollutants, or wastes by Environrrientat: Law' and the following substances:; gasoline,
kerosene, other flammable or toxic petroleum products, toxic peS a d h rb vola So l l en s, Materials of
contaiing asbestos or formaldehyde, and radioactive materials; (b)
the jurisdiction where the Property is Iodated th at relate to health.,. safety or enViironmeftal protection; (c): "Envirorimentai
Cleanup" includes any response action; reri•nedial eotion, or rernoval, action as;de'fined innvironmental Law; arid (d) an
"Environmental Condition" means a conclitiori that can cause; contribute to, or.. oth erwise t E rigger an Environmental Cleanup.
Borrower shall not cause or perrnitthe presence; use; disposal, storage br:..rel of any Hazardous Substances,
or threaten to release any Hazardous Substaneos,.on. or'in•the Property: Borroweieslall not do, nor allow an orie else
to do, anything affecting the Property (a) that is in violation of any Environmental Law, (h) which'creates an: Erivironinental
Condition, or (c) which, due to' the presence, use, or release of a HazardousStibs'tance, creates a condition that'adversely
affects thevalu e of the Property. The preceding two.sentences shell not applyto'the presence, use or.storage. oli the Property
of small quantities of Hazardous Substances that are generally recognized to be apprapriateto normal•resideritial uses
and to maintenance of the Property including, but not limited: to ;'•hazardous substances 'in consumer products).
Borrower shall promptly give Lend or writte.n notice of (a) any .i nvestigatiori clam derriarid; lawsuit or other action by any
governmental or regulatory agency 'or private party irivolving•�the'Property :and any rlazardous'Substance or Environmental
Law of which Borrower has actual knowledge:. (b), any Envirorrrnentel Condition, including but iirnited•to, any;:spillirig,
leaking, discharge, release or threat of release of any lazardous Substance, arid an r c.00ndi'tion. caused by.the presence,
use or release of a Hazardous Substance which' adversely.affects the value,ofttie'Pro p e I'f BOrrower learns; or•is• notified
by any governmental or regulatory authority, or any private party, that•any•removal or other rerriediation of any Hazardous
Substance affecting the Property is necessary, :Borrower shall.promptlytake all necessay remedial aotionsin accordance
with Environmental Law. Nothing herein shall create any obligation Lenderfor an Environmental Cleanup.
NON UNIFORM COVENANTS. Borrower enel .Lender further covenaftand agree' as follows:
22. Acceleration; Remedies: Lender :shall give .notice• to Borrower' prior':to acceleration foilowin g Borrower's
breech of any covenant or agreement in this Security instrurtieri't (but not priorto acceleration i.inderSection:18 unless
Applicable Law provi des .othereilse). The nciticeshal1 .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 13orroerer by which'• the: default must be
cured; and (d) that failure to cure theeiefault'on. or be'forethe date specified' i the. notice.rriayresult in..acceleratlon
m
of the sums secured by this Securitelristruerit`and sale of the. Property: The notice shall furthei.. inform. Borrower
of the right to reinstate after acceleration and the tight to bring'a court;ac'tiop.to assert the non- ezistetice of a' default•
or any other defense of Bor•rower.to atceleratiorr sale.. if the default Is` not' cured, on or before' the date; specified
in the notice, Lends r at its op 'iio n May require irnwodtate payment in hall of ell surnasebu red by this Security l natrtirnerit
without further demand and may •invoke the•. power. of arid any .other. perrnitted. by Applicable• Law.
Lender shall be entitled to collc. t' all expenses •incurred' it(. the.,rernedIes provided ins this .Section 22,
including, but note imited to roaSonabl'e'attorrieye'e fees arid 'costs of title evidence.
If Lender Invokes the power: of sale;. Lori der•..shail give• notice:. of.iritent to' foreclose. to Borrower and to the
person in possession of the Property, if.cli'fferent;:iri' accordance• With Applicable.Lainr:'..Lerider give'notice
of the sale to Borrower in the rrianner provided in:Sectiori 15::Lender'.shall pui?.li .h' the.notice of,"sale;:and the
Property shall be sold in.the rnanner prescribed yApplicable Law':Ler dor,or...its:designee may purchase: the
Property at any sale; The proceeds 'of the Sale'shall: be. applied iri thelfoliowing; oi (a) to aII..experises of the
sale, including, but not llmi'tedto, reasonabld a'ttorrieys'.:fees; (b) to.alGsumssoctired by this Security Instrument;
and (c) any excess to the person or .persons legally entitled to it.
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23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instrument. Borrower shall pay any recordation costss Lender may charge: Borrower a fee for releasing this Security
Instrument, but only if the fee is paid to athird partji.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.
BY SIGNING
BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security
Instrument and in any Rider executed by Borrower and recorded with it.
State o£ "WWOMI3•G V rAlr\
County 0 f 2NC:O7.IT= 'V\I-01D
This instrument was acknowledged before me on
(name(s) of person(s)).
(Seal, if any)
CAFtRIEL. [31�O.UGH
.t[otai E�iblicn Statc'oL•Utah"
Cornitiss oii fi.95.36a
M'::ESCV?• 02.�1;7�20�5.,
k
F IB +ffa b
Sign 31 of "Nct;6.91 ai
Title (a and Rank)
My commission expires
Loan Originator Organization: WEBER STATE FEDERAL CREDIT UNI'
NJ4LS ID: 709534
Loan Originator: Marlow Randolph
MILS ID: 90217
WYOMING— Single Family— Fannie Mae /Fredd[c Mac UNIFoniyilNSTRUMENT Form 3051 1/01
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(date) by
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Vl. WBCD, LOAN
PLANNED UNIT DEV'ELOPiVIEN
MIN: 101145320140930002
CASE
THIS PLANNED UNIT DEVELOPMENT RIDER is :made this 12TH day of
NOVEMBER, 7014 and is incorporated into•and shall., be.deemed to amend and
supplement the Mortgage, Deed of Trust or Security Deed (the "Seourityflnstrurnent
ofthe same date, given by the undersigned the "Borrower to•seciare Borrower's Note
t0 WEBER STATE FEDERAL CREDIT UNION, A UTAH CREDIT UNION
(the' "Lender
of the same date and covering the Property described in the Security Instrurnerit and
located at 1442 VISTA DR, STAR VALLEY RANCH, WY 83127- -8015.
The Property includes, but is not limited to, a parcel of land improved with a dwelling,
together with other such parcels and certain common areas and facilities, as d escribed
in covEN CONDITIONS AND RESTRICTIONS (the "Declaration
The Property is a part of a planned unit development known as STAR vALLLY RANCH
(the "PUD The Property also includes Borrower's interest in the homeowners
association or equivalent entity owning or managing' the common areas arid facilities
of the PUD (the "Owners Association and the uses, benefits and proceeds of
Borrower's interest.
PUD COVENANTS. In addition to the covenants •and agreements. made in the
Security Instrument, Borrower and•Lender further covenant .and••agree as•fo.11aws:
A. p UD Obligations. Borrowershall perform all ofBorrawer's obligations under the
PUD's Constituent Documents. The "Constituent Documents" •are the (1) Declaration;
(li) articles of incorporation, trust instrument or any equiyalent documentwhich creates
the Own ersAssociation; and (iii) any by -laws or other rules or regulations of the Owners
Association. Borrower shall promptly pay, when due, all dues and assessments
imposed pursuant to the Constituent Documents.
B. Property Insurance. So long as.theOwners•Association .maintains, with a •generally
accepted insurance carrier, a "master" or ''blanket". policyijsuring.the Property is
satisfactory to Lender and which provides insurance coverage in'the arnounts '(including
deductible levels), for the periods, and against loss.by fire, .hazards.included withinthe term
"extended coverage," and any otherh zards; including; butnotlimitedto, earthquakes and
floods, for which Lender requires insurance, then: (1)-L•ender..waiveSthe:provision inSection
3 for the Periodic Payment to Lender of the yearly• prerriiurnt installrTients•for property
insurance onthe Property; and (ii) Borrower's obligation under.Sectiori 5to maintain property
insurance coverage on the Property is deemed satisfied to the extent that the required
coverage is provided by the Owners Association policy.
What Lend er requires as a condition ofthis waiver can change during theterm ofthe ban.
Borrower shall give Lender prompt notice of any lapse in required property
insurance coverage provided by the master or blanket policy.
In the event of a distribution of property 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. Lender
shall apply the proceeds to the sums secured by the-Security Instrument, whether or
not then due, with the excess, if any, paid to Borrower.
C. Public Liabillty Borrower shall.. take; •such actions as -may be
reasonable to ensure:thatthe Owners Association rnaintatnS a public liabilit insurance
policy acceptable in form, -amount, and 'extent;of:_coverag.e.to Lender.
D. Condemnation: ••The proceeds :of.any award .or-.claim:for• damages, direct or
consequential, payable to in connection=rwith.:any condemnation or :other
taking of all or any part of the Property or the common areas and facilities of the;PUD,
or for any conveyance iri lieu of condemnation, are l assigned and shall ie paid
initials
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to Lender Such proceeds shall be •applied by Lender to the sums secured by the
Security Instrument a.s proVR.:ied iri Section 11.
E. Lender's Prior Consent- Bo rroWer shall not, exOept::after notice to tender and .v.yith
Lender's prior written consent, either.partition or subd ivide the Property or consentt(1):the
abandonment or termination of the PUD, except for abanontrient or terrniha.tiCn required
by law in the case of substantial .destruction by fire or other casualty or in the case of atalling
by co nd emnation or erriinentdomain; (11). any am endrn erittO any provision Constituent
Documents" if the provision is for the express benefit of Lender; (iii) termination of
professional managenierit and assumption of solf-manag emep t•Ofth a Owners ASsaCiatiOn;
or (iv) any action which would have the effect of rendering?the public liability: insurance
coverage maintained by the Owners Association unacceptable td Lender.
F. Remedies. If Borrower does not pay PUD cl0ee •ancLassessments when due,
then Lender may pay them. Any amounts diSlQursed py this
F shall becom e ad d iti o nal debt cif Bo rrower secured bythe Securily I nStruintient..'Unless
Borrower and Lender agree to other terMs..Of..payrOtiti.,:00$e-,arileolig shall bear
interest from the date of dssbursement at the Note rate and shall be iDaNiablo, with
interest, upon notice frorn Lender to Bo: rrower .reqUeSiing
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants
contained in this PUD Rider.
(Seal)
MULTISTATE PUD RIDER-Single Family-Fannie:Mee/Freddie Mao UNIF014/1 INSTRUMENT Form 3150 1/01
199972006 Online Docurntants, Inc. Page 2 of 2 F616ORDU .0802
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SECOND HOME RIDER. v1 WBCD LOAN 5U420$022
MIN: 10114632014093(402
THIS SECOND HOME RIDER is made this 12m day of NOVEMBER, 2;014 and
is incorporated into and shall be deemed to amend and.. supplement the. .Mortgagge,
Deed of Trust, or Security Deed (the "Security instrument of the same date given
the undersigned (the "Borrower-, whether there ;aree nee ia.more persons undersigned
to secure Borrower's Note to raEBEN STATE FEDERAL C22EIJIT urrxori, A UTAH .CREDIT
UNION
(the- "Lender")
of the same date and covering the Property described in the Security Instrument
"Property"), which is located at: 1442 VISTA DR, sTATi VALLEY RANCH, T ray
83127 -8015.
In addition to the covenants and. ,agreements it ade:.in ,the. •Security Instrument,
Borrower and Leander •fuithereovenantfand ag ree.that:secti:ons 8 of'the.Security
Instrument are deleted and are=replacecl by th.e,following
6. Occupancy: {Borrower shall.'occupy, ;and °shall only use,. Property as
Borrower's second home: Borrower shall. keep the Prope'�rt� available forBorrower'.s
exclusive use and enjoyment at all times and shall.. not: subject' the Property, to any
timesharing or other shared ownership arranggerrieht ;:•or•te any rental pool 'or
agreement that requires Borrower to rent the Property.or give a management
firm or any other person any over. the oocupancy or use of the Property.
8. Borrower's Loan Appp i
lication. Borrower shall -be n default if, during the
Loan application process, Be rower or'•any, persons•;or= :entities acting; at the
e
direction of Borrower or with Borrower's knowledg or; consent. gave: matenally
false, misleading, .or inaccurate: iriforrnation orstatementsto 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 Prepertyas Borrowers second home.
BY SIGNING BELOW, Borrower accepts and agrees to 'the terms and covenants
contained in this Second Home Rider.
seal)
MULTISTATE SECOND HOME RIDER •Single Family Fannin Mare /Froddio Mac UNIFORM INSTRUMENT
Form38901/01
1999 -2007 Online Documents, Inc. Page 1 of 1 F3890RDU 0703
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