HomeMy WebLinkAbout885451NOV 05
~008 10:18 FR WFHM
40~ 536 8G01 TO
9130788~9488
P.04
l~p~ed By:
RECEIVED
LfNOOL/',,I COUNTY CLERK
681050000
,[Space Above Tnb ! J,,, For Re~orgiu~ D~]
MORTGAGE
NOTICE: THIS LOAN IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE DEPARTMENT
OF VETERANS AFFAIRS OR ITS AUTHORIZED
AGENT.
DEFINITIONS
Words used In multiple ~a~tlons of this docmn~t am defined b,low snd other words ar~ defined in
S~ciions 3, 11, 13, 18, 20 and 21, C~'tsln rulos z~sardin8 the usase of words used in this dooum~nt
also provided in $~Qon
(A) "~cm'l~ lnstrm~" re, am this ~n~nt, whl~ is datc, dtq0v~t 05, 11002 ,
togeQ~¢r with all Riders m this docummt.
Borrower 15 tl~ mortgagor und~ this Security
(C) "LInder" i~ l~ar,~ yAP. gO IIOM~ HOg~GAGB,
Porto 3051 1101
NOV 05 2002 10:14 FR ~FHM
40~ 53G 2G01 TO 91~0788G9488
P.05
Lender's addre~sis P,O. ~ox 10304, DZS tqozz~S, Y.~ S0305o3o4
Lender is the mortgagee under ~hie ~curity l~mirnent.
(D) "Note" means ~he promissory note signed by Borrower ~d datedl~ovEl/B~l~ o$, 3002
The Note ~tatcs ~hat Borrower owes Lender 01~ I~IqDRED IvOltT¥ FZ'V~ THOU~klx~D THI~Z
~Uh'~ZZD ~'z71'~ ~ o0/100 Dollars
(U,S. $ *** * 145,3 S 0. o o ) plus interest. Borrower has promised to pay lhls debt in rciuhr Periodic
Payments and m pay the debt in full not lam than DICE'~ER 01, ~-033
(E) "Property" rnelms the property that is described below under the heading "Transfer Of Rights in ~he
Property.'
(li') "Loan" means the debt e~tdenced by the Note, plus interest, any prepayment charges slid late charge~
due under ~he Note, and all sums due under this Secufl~y :lnsuaunen~, plus interen.
(G) "Riders" means all Ride~ to this Security Instrument tha~ are execuu~d by Borrower, The followin~
Riders are to be executed by Borrower [check box as applicable]:
Balloon Rider ~.~ Planned Unit Development Rider 1-4 Family Rider
VA Rider L._] Biwccidy Paymeat Rider Other(s) [q~:ify]
(H) 'AppUcable Law" means all conu, oliing applicable federal, state and local sr~-ut~, reixflaiions,
ordi.uanccs and administrative rule~ and orders (thai have the effect of law) as well as all applicable final,.
non-appealable judicial
(1) "Community Association Dues, Fees, and Auessments' means all dues, fees, user, meats and o~hcr
charges thai are imposed on Borrower or tho Property by a condominium association, homeowners
asso¢iadon or dmihr
(~) "Electronic Funds Transfer" means auy transfer of funds, other than a transactio~x originated by
check, draft, or similar paper in~nmlel~z, which is initiated thro~ an electronic terminal, i, lepholflc
inskmment, computer, or magnetic iapc so aa to order, instmc~, or authorize a financial institution to debit
or credit an account. Such ~nn includes, but is riel limited to, point-of, sale transfers, automated teller
machine tramacfions, trar~fer~ initiated by telephone, wire zransfers, and automated 'clearinghonse
transfers.
(K) "Escrow Items" means those items the~ a~e described in Section 3.
iL) 'Miscallsneolls Proceeds" means any compensation, seXtlcmcut, award of derrick, or proceeds paid
by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (t)
damage to, or destruction of, 'the Property; (ii) condemnation or other taking of all or any pan of the
Property; (iii) conveyance in lieu of condem~ion; or (iV) misrepresentations of, or omissio~ as to, the
value and/or condMon of the Properv/.
(M) 'Mortlage Insurance" means instuxnce protecting Lander atainsc the nonpaymenl of, or default on,
the Loan,
(N) "Ferlodic Payment" means the re/v!a~ly scl~ulcd amount due for (i) principal and interest under the
Note, plus (ii) any amounu unde~ Section ~ of this Security Instrument.
(O) ~RF. SPA' means the Real Estate Set-dement ~ocedufes Act (12 U.$.C, Section 2601 ct seq.) and
implemen~ regulation. Regulation X (24 C.F.R, Part ~500), as they might be amended from time to
timc, or ~my additional or successor legislation or regulation that governs thc same subject matter. AS used
in this Security InsWorl~z, "P,.ESPA~ rdefs ~o all requirements and restrictions that are imposed in regard
to a 'federally related mortgage loan~ even if zhc Loan doe~ not qualify as a "federally related mortgage
loan" under RESPA.
~,6G(W¥) tooOe, I;~oe: ,$ ~s -- Form 3051 1/01
NOV 05 ~00~ 10:14 FR WFHM 40~ 536 2601 TO 913078869488
P.OG
(P) "Successor in Interest of Borrower" means any party thai has taken title w the Property, whether or
not that party has assumed Borrower's obllgation~ under the Note and/or this Security Instrument,
TRANSFER OF RIGHTS IN THE PROPERTY
This Sec'l,trity Inset secures to Leilder: (i) the repayl~lollt of the Lo~il, ~nd all r~als, extensions and
modifications of the Note; and (il) the p~rform~uce oi Borrower's covenants m~d agreements under this
Security Instrument and the Note. l~or this pu~X)$e, Borrower docs hereby mortgage, grant and convey to
Lender and l.e~der's succe, asors and a~signi, with power of sale, the following described property located
in the CoI.IR~ of r.'rl~col,1~
['Type of P. eoonling Jurisdiction] [Name of R~.ordlM
Ott' ~ OPgl;~ZA~ P~,'~ ~OP.
BOX 1.0304, DSii li~)ZN~$f IA 503060304
plu'cel ID Number: 1334~03.;L060t0
:1.58 ~OI, I,~ DRIV~
("Propmy Addr~s"):
which curreml¥ has the addres~ of
Wyoming a3~.37 [zip C~le]
TOGBTHER WITH all tho improvements now or h~or erected on the property, and all
e~, appurtenances, and fixtures now or herenftor a palt of tho property. All replacements and
additions shall also be covered by this Security In.e, mment. All of the foregoin~ is referred to in this
Security Inmm~em as tho "Property."
BORROWER COVENANTS that Borrower is lawfully seised of the estate hm~by conveyed and ha~
the right to mortgage, grant and convey the Property and thai the Property is unen~ltt~ed, ~.ep~ for
~ncmnbrances of record. Borrower w~avants and will defend g~.'rally the title to t~e Propexty a~ninst all
clatr~ and derr~n~, subject to any encumbrance~ of ~eco~.
THIS SECURITY INSTRUMENT combines uniform covenants for naticaml use and non-tmiform
covmant~ with limited vatiatiom by jurisdiction to coatitute ~ uniform security instramcmt coverl~ real
propc, rty.
UNII~ORM COVENANTS. Borrow= ~d Lender cov~nnnt an(l ~ree ns follows:
1. Payment of Principal, Internst, Escrow Item~ Prepaymmt Charges) and Late Charges,
Bortowel' shall pay when due ~e principal of, and interest on, the debt evidenced by the Note and
prepayment char~es and late charges due ~ the Note. Borrower ~hall also pay f~nds for Bscrow Items
pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.$.
curreacy. However, if' any check or other instrturlent received by Lender ~s payr~mt under the Note or ~
~)~.6GiWY) Iooo~ P'~ ~ or ~s Form 30S1 1101
NOV 05
2008 10:14 FR WFHM 408 58G 8G01
TO 9~30788G9488
P,O?
Security Xn~t is returned to Lender unpaid, Lender may ~-quire that any or all mbs~lueat payments
due under the Note a~d this Security lnstmmont be made in one or more of the following forms, as
selected by Lender: (a) cash; (b) mon~ order; (c) certified check, bank check, treasurer's che~k or
c~hier's check, provided any such check is drawn upon an institution whose deposits ar~ insured by a
federal a/ency, instrumentality, or end,y; or (d) El~ctroriic lhnds Transfer.
Payments are d~emed received by Lender when received at the location desisted in the Nora or at
such other location as may be d~i~nated by Lender in accor,i,,-,-e with the notice provisions in Section 15.
Lender may return any payment or partial payment if rite payment or partial payments are inrufficient to
bring the Loan c~ner~t. Lender may acc~t any payment or partial payment insufficiem to bring the Loan
current, without waiver of any fights hereunder or prejudic~ to it~ fi~hts to refuse such payment or partial
payments in the future, b~t Lender is not obligated to apply ~tch payments at the dn~ ruch payrnen~ sro
accepted, If each Periodic Payment is applied as of its scheduled due dat~, then Lender need not pay
inter,st on unapplted funds. Lender may hold such unapplied flmds until Borrower ,,~ir~ payment to bring
the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply
such funds or return them to Borrower. If not applied earlier, such funds will be applied to the out~tandin§
principal balance under the Note immediaely prior to foreclosure. No offs~ or claim which Borrower
miltht have now or in the future against Lender m'~ll relieve Borrower from trmttn$ payments due under
the Notu and this Security htstr~nent or performing the covenants and agreements secured by this Security
Instrument.
2, Application of Payments or Proceeds. Except as othetwi~;e described in this Section ~2, all
payments ~ccepted and applied by Lender shall be applied in th,,- following order of pflofity:' (a) interest
d~te lmder the Note; Co) principal due under the Note; (c) amounts due under Section 3. $~ch payments
shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts
shall be applied first to late charges. ~cond to any other amounts due under this Security Imm~ment, and
th~ to reduce the principal balance of the Note.
If Lender receives a payment from B~rrower 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 end
tl~ late ch~rie. Hmor= than one Periodic Payment is oUtstandinll, Lender m~y apply any p~t received
from Borrower m Rio repayment of the periodic Payments If, end to ~ extent tl~, ~ach payment can be
paid in full. To the ext~lt that any excess exists after ~he payment is applied to the full payment of one or
more Periodic Paym~ts, such excess may be applied to any late charges due. Voluntary pr~ayments shall
be applied first to any prepayment cbar~es and then as described in the Note.
Any application of payments, insurance proceed, or Miscellaneous Proc~ds to prinoipal due under
the Note shall not exumd or postpone the due date, or chante the amount, of the Periodic Payments.
3. Fuuds for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments are due
under the Note, until the Note is paid in full, a sum (the "Nunds") to provide for payment of amounts due
for: (a) tax= and ass~smeats a~d other items which can attain priority over this Security Instrument as ~
lien or encumbrance on the Property; (b) les.schold payments or ~tound rents on the PwpeWj. if any; (c)
p~emiums for any and all insurance required by Lender under Section 5; sad (d) Mortgage Insurance
premiums, if any, or any sums payable by Borrower to Lender In lieu of the payment of Mortl~e
Insurance premiums in accordance with the provisions of Section 10. These items are cali~ "l~erow
Items." At origination or at a~y' time during the term of the Loan, Lender may requ~ that Community
Association DI~, Bee~, ~d Assessments, if any, be escrowed by Borrower, and such dues, fees and
assessments shall be an Escrow Item. Borrower shall pwmptly furnish to Lender all notices of amounts to
be paid under this Section. Borrower shall pay Lender the ]Funds for Escrow Items tml~s Lender waives
Borrower's obligation to pay the' Funds for any or all Escrow Items. Lender may waive Borrower's
oblliation to pay to Lender Funds for any or all f~scrow Items at any time. Any such waiver may only be
in 'wriiing. In the event of such waiver, Borrower shall pay directly, when and wh~re payable, the amounts
NOV 85 8888 18:14 FR WFHM 488 5DG 8G01 TO 9130788G9488
P.08
due for any Escrow Items for which payment of Funds has been waived by Lender and, If Lender requires.
shall furnish m Lender receipts evidencing such payment within such gme period as Lender may require,
Borrower's obligation to nuke ~ch payments and to provide receipts shall for all purpose~ be deemed to
be a covenant and agreement con.ned in this Security Insmm',c~, s~ tho phr~e "covenant and agreement"
is u~ed in Scclion 9. If Borrower is obligated to pay Escrow Items directly, pursuant ~o a waiver, and
Borrower falls to pay Ibc mnoun~ due for an Escrow Item, Lender may exercise it3 rights under Sectiou
and pay such amount and Borrower shall then be obligated under Section 9 ~o re-pay to Lender any such
amount. Le~der may revoke the waiver as to any or all F, scrow Items at any time by a ~otice liven in
accordance with Seaion 15 and, upon such revocMion, Borrower shall pay to Lender all Bunds, and in
tach ~ts, thai are then required under this Section ~.
Leader may, at any time, collect and hold Punds in an amount (a) sufficient to permit Lender to' apply
the Funds a~ the time specified under RESPA, and (b) llot to ,exceed the ~ amount a le~lder can
l~quire under RI/SPA. Le~der shall e~timale the amount of Funds due on the basis of cunent data and
r~asonable e~tlmsles of expellditurcs of future Escrow It~Is or otherwise in accordance with Applicable
L~w.
The F~.nds shall be held in an tnstlttlfloll whose deposits are insured by a federal atency,
instlllmentality, or entity (including I~nder, if Lender is an institution whose deposits are so insured) or in
any Pederal Home Loan Bank. Lender shall apply the Nun/Is to pay ihe Escrow Items no later than the time
specified under RESPA. Lander shall not charge Borrower for holding and applying ~he l~lds, annually
sm~lyztng tim escrow account, or verifying the ~crow Items, unless Lender pays Borrower interest On the
Funds and Applicable Law permits Le~der to make such a charge. Unless an agrommat is made in writing
or Applicable Law requires intere.~ to be paid on the l~lmds, Lender shall llot be required to pay Borrower.
any ir~terest or earnings on ~he Flmds. Borrower and Lender can agree,in writing, however, that ln~erest
shall be paid on the l~unds. Lender shall give to Borrower, without char/e, an annual accomltini~ of the
Funds as required by RESPA.
If th~o b a surplu~ of Funds held in ~crow, as ddined under RESPA, Leader shall, accoun! to
Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
as defined under RF. SPA, I.,~nder shall notify Borrower as required by RF,~PA, and Borrower shall pay to
Leader the amount necessary to malco up the shortage in accordance with RESPA, but in no more than 12
monthly payments. If there is a deficiency of Funds held in escrow, as defined under RF~PA, Lender shall
notify Borrower as required by RESPA, and Borrower shall pay to Lender the amounl necesslcg, to make
up the deficiency in accordance with RESPA, but in no mor~ than 12 monthly payments.
Upon paymmt in full of ali sums secured by this Sec'drily Instnlment, L~der shsl! pixn~apfly refund
to Borrower any Funds held by Lender.
4. Chris; Li~. Borrowe~ shall pay all rotes, assessments, chaldea, fines, and lmposttlon~
sttribulable to the Property which can at~ain priority ov~r this ~.~:,..uity Insuument, leasehold payments or
ground ~ea~s on the Property, If any, arid Community Association Dues, Fees, and Assessments, if any. To
the extent thai th~= items are Escrow Items, Borrower shall pay d~ra in tho, ,ma~ er provided in ,%orion 3.
Borrower shall promptly discharge any lien which h~ priority over thts Security Instrument
Borrower: (a) a~-ees in wridnl/i to the paymant of the oblivion secured by the lien in a reacher acceptable
to l.~ld~r, but only so long ~s Borrower is perfomdn, g such agremnent; (b).co~te~ts 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 ~uforcement of the lien while those proceedings ~'e pendtn8, but only until such proceedings
are concluded; or (c) secure~ from the holder of the lien an ag~In~ll~ ~aIisfactory to Lender subordinating
the lien to this ,%curity Insu'ument. If Lender delermines thai any pail of. file Prop6rty is ~bject to a lien
which can al~n priority ov~r this Security Insm~eltt, Leoder may give Borrower a flotice identifylll~ the
Fen~ 30S1 1101
NOU
91307881~400
P.II
itS. ~tlr~ p6JldOn'ha a b~t~ ,[ i~t~-S~:fliipr~ !~l~es, bu~ Is uol
~ pip~, cl~ buB~g Of~ ~ Cbd~::~lO~fl~:~[..~ j~i':~n~flom, ~d have u~iti~
~=~.~y du~ or.obl~g~lPn;~ dO.~ !~Jt. b.~ ~haZ.~d~ ~firs no liability for not t~ng
dis~mmt ~d ah~l ~ pay~ie~ ~i~ ,u~ lhie~' 'fi~n nOfi~ ~ ~r to Bo~owcr
i~. If BO~OW~ ~im 1~ ti~o:~;[~. ~0~ ~ lo,Old ~ the fee gfle sh~l not ~rge
Bo~ower sh~l pay ~e p~u~ r~hib t ~ ~]n ~e Monsate ~m~ a ~<t. If, for my mmn,
pr~musty pmvid~ ~n ~u~ce ~c '.~o~er was r~ to ~c ~at~y d~igm~
towed ~e pr~ for Me.gage h ~u~, Bo~w~ sh~l p~ ~e prem~ r~ui~ to ob~
~v~ge subs~fffiy ~iv~mt to ~e: Moag~ge;~ce pmvio~ly ~ offs, at a ~st
~iv~cnt to ~e cost to Bo~ow~ of he Mo~g~e ~ur~ p~vio~ly ~ effmt, ~
~ngage im~r sel~ by ~der. f ~bstm~ly equiv~em Mortgage ~ ~ve~le is not
av~l~le, B~ow~ shffi ~n~ue to pa~ Io ~nd~ ~e ~um of ~e sep~ly d~nat~ pa~
wore due when ~e i~ce cov~ ~ to be M eff~. ~der will ~t, uae ~
p~t0 U a non.m~ble loss ~[~e ~ li~ of Mong~e Im~. ~ch loss r~e~e
non-re~able, not~s~ ~o f~ ~ &e ~ is ~fi~y p~d ~ ~11, ~ ~d~ ~ffi not be
re~ to p~ ~ my ~ter~ o~ ~gs O suO loss rese~e. ~der ~ no lo.er ~u~ loss
~e~e pa~ts If Mo~g~e ~(~ver~e(m ~e ~o~ ~ for ~e peri~ ~at ~d~
p~vid~ by m ~ sel~ by ~fidm. ag~ ~s av~lable, ~ obt~d, ~ ~d~
~ately d~t~ pa~n~ towed d~e pre~ for Mo~g~e ~r~. If ~ ~u~ Me.gage
~m~ m a ~ndttion of ~ing ~e..'~ ~d Bo~er w~ r~r~ to m.~ s~a~ly desi~
p~u f?w~ m~ p~ for~O~ ~gr~, Bo~owet ~m pay ~e ~u~
~ Mong~e ~ ~ etl~t; or to provide a ~n-m~le Io~s ~e~e, ~'
~nt for Me.gage ~ ~d~ jn ~cc wi~' ~y w~Ren agre~t betw~ ~w~
~n&r pr0vid~g ~r ~ch t~na2on o,: ~tll te~nafion is r~u~d by Appli~le Law. No~g ~ ~is
~ion 10 aff~ Bo~w~'~ oblig~on ~o pay ~en at ~e ra~ provid~ in ~e Note.
Mortgage ~r~ ~b~s~ ~nd~ (or ~y ~ity ~ p~c~ ~e Note) for ~ loss~
~y ~ if Bo~w~ d~ not r~ay ~e ~m ~ ~. Bo~ower is not a p~ to ~e Mong~e
~r~.
Me.ge ~ ~2u~ ~e~ to~ risk oa MI su~ ~ce ~ fo~ from ~ ~ ~, md ~y
~ ~to agr~ ~ o~er pml~ ~at ~me 0r ~di~ ~eir ~sk, or r~uce loss~. ~o
~ on t~ md ~ndl~om ~at ~e saOsf~ ~ ~e me.gage ins~ ~d ~e o~ p~ (or prell)
of ~ ~at ~e mong~e i~r~ m~ have available (Which ~y ~clude ~s oblnin~ ~m Mortgage
~ce proud).
m~ o~ ~i~, ~ ~ a~iate of my of ~e ~reioing; ~y ~ve (direly or ~cfly)
d~ve from (or ~gh~ ~ ch~t~ m) a portion of ~wer's pa~is for Mo~l~e ~. in
~e for sh~ or ~g ~e ~n~e ,~'l ~sk, ~ ~uc~t los~. If m~ ~nt
pw~d~ ~a~ ~ a~i~ of ~ ~ a shoe of ~he ~r's risk tn ex.ge for s shoe of ~e
pre~ p~ ~o ~e in~, ~e ~mg~ is o~ Ie~ "captive m~rm~.'
(a) ~y m~ a~u~ ~ not ~t ~ amo~ ~t Bo~ ~ ~ to pay for
M~t~e ~nce, or ~y oth~ t~ of ~e Loan. ~ a~m~ ~ not ~
Bo~ow~ ~ owe for Mon~e ~n~, and ~ ~ not ~tl~ Ro~o~ to ~y r~d.
~4Q(~) I~o~ p~ ~ or ~s ~ 3051 1/01
229
NOV 05 8008 10:15 FR WFHM 402 5JG 2801 TO 9130788G9488
CO) ~ny such agreements will not affect the rights Borrows' has - ff any - w~th re~ect to the
Mortgage Insurance trader the Homeowners Protection Act of 1998 or any other law. These rights
may include the right to receive certain disclosures, to request and obtain cancellation of the
Mortgage lusurance, to have the Mortgage Insurance terminated automatic~lly, and/or to receive a
refund of any Mortgage Insurance premiums thM were ~earned at the time of sttch caltc~ilation or
t~rmination.
11. Assi~raent of Miscellaneous Proceeds~ Forfeiture. All Miscellaneous Proceeds are hereby
assigued to and shall be paid {o Lender. '
If the Property is damalled, such Misccllaneo~ Proceeds shall be applied to restoration or repair of
the Property, if the restoration or repair is economically feasible ~1 Lender's secmu-ity is not lcsscued.
Durini~ muoh repair and restoration pvriod, lender shall have the fifth! to hold such Miscellaneous ~
until ].~..ndcr has had an opportunity to inspect such Property to cnsm~ the work has been completed to
Leudcr's satisfaction, provided that such inspection ~nll be undertaken promptly, I.cnder may pay for the
~.pnirs and restoration in a single disbursement or in a series of progress payments as the work is
convicted. Unless an agreement is made in writing or Applicable Law requires tit.est to be paid on such
Miscellaneous Proceeds, Leuder shall not be required to ]pay Borrower any interest or earnings ou such
Miscellaneous Proceeds. If the restoration or repair~ is not economically feasible or Leuder's security would
bo lessened, the Miscellaneous Proceeds shall be apPlied to the sums secured by this S~curity Instrument,
whether or not then due, with thc exc.~s, if any, paid to Borrower. Such Miscellaneou~ Proceeds shall be
appli~l in the order provided for iu Section 2.
In the event of a tolal taking, destruction, or loss in value of the Propen'y, the Miscellaneous
Proceeds shall be applied to the sums secured by ~ Security Instrument, whether Or not then due, with
the excess, if any, paid to Borrower.
lu the event of a partial taking, desu'ucdon, Or iozs in value of the Property i~, whi.~h ~.m fair .market.
value of the Prol~rty immediately before the partial taking, destruction, or toss m value ts equal to or
llreater than the amouut of thc rams secured by this Security ImUuxn~t immediately before the partial
mkinl{, destruction, or loss in value, unless BorrOw~ and ! ~nder otherwise agree irt writing, the
s~'u~d by thiS Security l~strtmmnt shall be reduced by the amount of the Miscellaneous Proceeds
multiplied by Rte followti8 fi.action: (a) the total amount of the sums secure, immediately. befo~re the
pa, mlal tnktig, destruction, or loss in Value divided by (b) the ,fair m~k.e.t.value .of the Property immediately
before the partial taking, destruction, or loss in vel se. Any uatance auau ue paia to Borrower.
In the event of a partial taking, destru~iou, ,,r loss in value of the Property in which the fair n~rket
value of'tho Property immediately before the pat~iai takinB, destruction, or loss ti value is less than the
amount of the sums secured inuuedtately before '~e partial ~aking, desUuction, or loss in value, uuless
Borrower and Leuder otherwise agree in wririn{, ~e Miscellaneous Proceeds shall be applied to the
so~u'ed by this Security lnsuument whether or no~ the sums are then due.
If the Property is abandoned by Borrower or if, after uotice by Leuder to Borrower that the
Opposiu{ Party (u defined in the next seuu~noe)!off, rs to make au award to settle a claim for d.an~es:
Bo,ower fails to respond to Lender within 30 d~s after ~e da~e the notice is.{iveu,. Lender is auut0nz~.
sums 6ec~red by this S~curiry lnsu'umenL wlmcti~cr, or not ~en ouc. opposmg t'arry means mc mtro party
that owes Borrower Mi$ccllaneou~ Proceeds or thc party against whom Borrowcx hu a H{~ht of nct~on in
regard to Mis~llancous Proc~ls.
Borrower shall be in default if any actiou or proceedti~, whether civil or criminal, is beguu that, in
inmrest ti the Property or rights unaer mis ~ccur.lty instrument, t~orrower c. an cu~.c .~uc~ a uccc. ,_
impairment of Lender's interes~ in thc Prop~ or rights under ~ Security histrumcnt. Thc procccds
any award or claim for dentales thai are a~ributable to ihe ln~alrment of Lender's intere~ in the Prope~my
a~e hereby assigned and {hall be paid to Lender.
All Miscellaneous Proceeds thai are nol applied to restoration or repair of the Property shall be
applied in h'le order provided for in Section 12.
Form 306~ ]101
NOV
05 20B2
10:15
FR WFHM 402 5JG 8881 TO 91~078869488
P.13
12. Borrower Not Rd~astcl; Forbearance ~By L~der Not a Waive. ~xt~sion of ~ ~ for
pa~t or ~fi~ion of ~O~i~ion of ~e sums s~ur~ by ~is S~ Ins~t lr~t~ by ~der
~o Bo~ow~ or ~y Suc~sor ~ ~resl of Bo~oW~ sh~l nol opers~ ~o ~e~e ~ II~ill~ of Bor~w~
or ~y ~cc~sors in ht~t of Bo~ow~. ~der ~ ~t ~ ~ to ~ pro~s asa~t
~y ~cc~r ~ Ime~t of ~ower or to re~ W ~t~d t~ ~r pay~t or o~ae m~i~
~flon of ~e s~ s~ by ~s S~ufity ~m~t by ~on of ~y ~d ~e by ~e ori~ma
~ower or ~y ~sors ~ ln~er~t of Bo~ow~. ~y for~ by ~der ~ exewis~ ~y fi~ or
rem~y incl~i~, wt~ou~ Iteration, ~der's ~ of pa~ ~om ai~ ~on~, en~ or
~s~ ~ ~t~ of Bo~ower or ~ ~o~ less ~ ~e ~oun~ ~ duc, ~MI no~ be a wdver of or
p~lude ~= ~cise of ~y fi~t or
~d ~r~ ~at Bo~ow='s oblilations ~ liab2itY ~ be jolt ~d sev~d. However, ~y Bo~o~ who
~ai~s ~is ~fiiy I~ bu~ ~ not ~utc ~e No~e (a "~ait~r'): (a) i~ ~ai~
S~fl~ ~ment o~y to ~nta~e, ~ ~d ~nvey ~ co-si~'s ~le~i ~ ~e Pwve~ ~d~
!~ of ~is ~r}ly Ins~; (b) ~ no~ ~ly obllgaa to pay ~ ~ s~r~ ~y a'is
~ ~ ~~a~o~ wi~ reg~d io ~ l~ of ~is ~ ~n~ or ~e NOte Wi~ou~
~-sl~'s consent.
Subj~t m ~c prov~io~ of S~on 18, ~y Su~sor ~ ~t of ~wcr who
~1 of ~w~'s dgh~ ~ ~u ~der ~s S~U ~t. ~wer ah~l not ~ ~1~ ~om
~. ~e coven~ ~d ~~ of ~is S~W ~t ~ b~d (exit ~ pmvid~ in
S~don 20) ~d ~ ~e ~ssors ~d ~si~ of ~d~r.
14. L~ ~, ~der may ~ ~ f~ for se~i~ ~ffo~ in ~on
Bo~wcr's dcf~t, ~r ~e ~ of p~ ~'s int~ ~ ~e Pmpmy ~d fi~ und~
S~U ~s~t, ~lu~g, but ~t 1~ to, a~s' ~, ~y ~on ~d v~flon
~ reg~d to ~y o~ f~, ~e abs~ of =pr~s au~ofi~ ~ ~s S~ty ~t to ~e i ~ific
fm to ~wer s~l not b~ ~ ~ a pm~bition ~ ~e ch~nE of su~ ~. ~ad~ ~y ~t c~ge
fm ~ ~ exp~sly pm~bit~ by ~s ~F ~t or by Applicable ~w.
If ~e ~ b subj~t ~o a law which ae~ ~ lo~ ~ug~, ~ ~ law ~ ~ly ~~ so
1~ will ~ re~ad~ ~ ~ower. ~der may ~se to ~e ~is ~d by ~uc~s ~
ow~ ~der ~e No[e or by ~g a ~r~t pay~ ~ ~ow~. If a r~ r~uc~ pr~cip~, ~e
~u~n ~ ~ U~t~ ~ a p~i~ proart ~out ~y p~t ~go (whe~ or noi a
pt ~! ~ prov~, for und~ ae Not~). ~ow~'s ~~ of ~y ~c~ ~d ~do by
~ pa~t to Bo~w~ wih ~timlo s w~ver ot ~y fi~t or ~ou ~ower ~[ ~ve .~g out
of s~h overdo.
1~. No~, ~1 nod~ 'iiv~ by ~wer~or ~r in ~tioa ~ ~is ~ty
mus[ ~ ~ ~i~j. ~y uoti~ to ~er in ~tion wi~ ~s S~ ~nt sh~l ~ d~ to
have b~ 6lv~ to BO~Wer when ~1~ by tint cl~ ~ or w~ea ~ly d~ivm~ to
no~ ~s if s~[ by o~ m~. Noti~ to ~y o~ Bo~ow~ sh~l ~n~m~ nofl~ to ~ ~w~
~ms A~li~ble Mw exp~sly ~ui~ o~ise. ~e noti~ ~d~s ~l be ~e ~y
notify ~ of ~wer's ~ of ~ms. If ~ ~l~m a p~u~ for ~ Bo~ow~'s
~ ~y be o~y one desi~t~ ~dce ~ ~ ~ ~ty I~I~t N ~y ~e ~o. ~y
noti~ ~ ~d~ sh~l b~ given by dgiv~s It or by ~l&g it by fl~t c~s ~ to ~'s sd~s
s~t~ h~ ~S ~ h~ ~i~t~ ~o~ adam by noti~ to Bo~ow~. ~y n~ in
co~i~ wi~ ~ ~ ~a~t ~ ~l i~ ~ m have bern ~ivm to ~ ~1 ~ly
r~iv~ by ~nd~. If ~ notice ~q~r~ by ~ ~ Ia~t ia ~so ~ui~ ~d~ Appli~ble
~w, ~e Appli~le ~w r~uir~t will satis~ ~e ~~g ~u~me~ under this ~
23i
NOU
05 2008 18:15 ~R W~HM 402 58~ 2G01 TO 91S0788G9488 P.14
16, Governing Law; Seve~abiltty; Rules of Construction. This ~curity Imtmment shall be
governed by federal law 'and the taw of ~¢ jurisdiction in which the Property is located. All righu and
obligations contained in ~ Security Inslnunc~ are subject to any requirements and limi~ious of
Applicable Law. Applicable Law might explicitly 6r in,licitly allow the psities Jo a~u'ee by comrsct or
might be sihmt, but such silence shall not be coash'ued :as a prohibition agsins~ agreemcmt by conlract. In
the event tlmt any provision or clause of this Security Instrument or the Note conflicts with Applicable
Law, such conflict shall not affect other provlsior~ of ~s Security Instrument or the Note which can be
given effec~ wkhout the conflicting provision,
As ur~cl in this Security Ins~-urne~lt: (a) words of the mascultlle gender shall mean and include
corresponding neuter wora or words of the f~nlUtne gender; Co) words in the singular shall n~an and
include theplural s~i vice versa; and (c) the word "ma~" gives sole disc'mton without ~uy oblig'~ioa
17. Borrower's Copy. Borrower shall bcgiv ,eh one copy of the Note and of this S~curity lnstTumrat.
18. Transfer el the Prol~rt~ or a Bm~ldsl Interest in Borrower. As us~xI in this Section 15,
"Interest in the Prol~rt~' means any legal or beneficial in~'~ in the Propmy. lnc.!udin§, b? not limited
to, those i~eflcisl lnlel~sts ~ransferred in a bond for deed, con, act for d~l, i~tallm~t ~l~ contract or
eicrow agreemem, the intent af which is the transfer of d~l¢ by Borrower at a future date to a purcha~r,
If all or any pan of thc Propcr~y or any Intcr~t in the .l:~ope ~n~ i~ sold or tr..~..rr~ (.or if.~B~,n'ow, er
Is not a natural person ~.ud a b~eficial interest in ~orrower ~s sold or tmisfm'~) w~irlo~ ~naer s prior
written con~nt, Lender may r~ui~ immedia~ Paym~u in fvll of all sums s~urcd by ~s Security
htslr~lllent, Howcvcr, this option shall not be exercised by I-~dcr if such exercise is prohibi~d by
Applicable L~w.
If Lender exercis~ gals option, Lender shalli gi¥¢ Borrow~ notice of acceleration. Th~ notice shall
provide a lX~iod of nOt less than 30 days from the date th~ notice is given in a~cordance with S~ction
wt~ln which Borrower musl pay all sums s~ur~t by ~ S~-urt~ Inslrum~t. If ..Borrower. fal!s.to p.~
thee sums prior to the expiration of this ~rin4, .Len.~r may revoke ~ay r~m~d~ l~nmu~ ~ m~s
$~'urity lasmun~ wkhout further notice or ~lcm~nu on ~orrower.
19, Borro~'r's Rlsht to Reimtate A~'i Accel~dtoa, If Borrow~ m~u ~ condi~ion~,
Borrower g~ll have thc right to have enforcement of this S~-m'ity Im~t discontinued at any time
prior tO thc c~rllcst of: (a) five days before sale of: the Property pursuant to any power of sale co~ned in
this S~curlty Into'tune,t; CO) such oth~r period as Applicable Law might sp~cif~ for the termlasIion of
Borrower's right to reinstate; or (c} ent~ of a judlpnent ~mforcing ~ Security Ins~r~ll~lt. Those
co~lttons ar~ that Borrower: (a) p~s L~der ali sums which th~ would be due under this Security
' Inhalant a~d the Note as if no lcceleration had 0~-vrr~d; (b) cur~ any default of ~ny other covenants or
ag~Ir~ts; (c) pays all exp,nr, es incurred.in enf. o. rcing .~ts .Sec~r, i~y.In~mm?t,.?~l'.l, din$., b~t__no½
to, r~s~mable sttornays' fee. s, property mspectl0n anti vamanon ~ees, sna omcr ~ees mcurrcu mr
purpose of ptotcctins I.r. nder's interest in the Pr°.~'rty and righ.ts un~cr.__t~....S~irity .lns..trum. ent; .and (d!
tske~ such action ss Lemier m~y reasonably reqqi.r_e, to assure thai lena? s mter~t in ?.e ~op?
rights under this Security Instrument, and BorroW, er s obligation to pay me sums secures ~y u~s
Instrument, mh~ll conlinu~ vnch~ged, Lender ma~ require thi~ Borrower pay ntch reinstatemeat mun~ md
expe~e~ in one or more of ~he followinl~ fonts; as selected by I.~der: (a) cash; (b) money order; (c)
certified check, bank checic, tre~urer's ch..lc or c~hier's check, provided any such check Is drawn upon
an lnstlmllon whose deposit4 ~re lnsu~'ed by a federal agency, insu'umentality or entity; or (d) F.l~ctronic
Nunds T~.sfer. Upon reinst~ern~'nt by Bo~'rower~this Sccuri? In.,~um~nt and obligmtions secured hereby
shall remain fully ~'fective aa if no acceleration had occurrem However, this rl~t to rei~ate shall not
apply in the case of acceleration unde~ Section lB.
20. Sale of Note~ Change of Loss Servic?; Notic~ of Grtevauc~, The Note or a parlal lmer~st in
tho Note (to~'ther with this Securiu lnm-,unent) can be sold one or more Umes without prior notice to
Borrower. A sills ~ht restt)t ill a challge in the entity (]~lov/n aa the "Loan Selwicer") that ~.oll~cts
Perlodio Payraent~ due under the NOte ~d this l S~..'vrity Instnlment md perforr~ other mort~lje loan
servicin§ obligations under the Note, this $cctirilY h~l~vmcnt, and Applicable I~w, There also might be
one or more changes of ~ Loan Servicer u~relar~i to a sale of the Note. If lhere is a chlml~e of the
,~rvioer, Borrower will be given wriuen notice of the cha~e which will state the nar~ and address of the
new Loan Servicer, the addr~s to which payments should be made and ~y other information RESPA
NOV 85 2082 18:16 FR WFHM ~02 536 2681 TO 913878869488
P.I§
23 :]
requires in connection with a notice of zransr, o~ servi¢i~. If the Note iz sold and therea/~ the Loan is
serviced by a Loan Servicer other than tho purchaSer of the Note, the mortgage loan servicing obligstions
to Borrower will remain with the Loan Servicer et be trami'erred w & successor Loan ~rvtcer and are not
~sumed by the Nor~ purchaser unicos otherwise p~ovided by the Note purchaser.
Nether Borrower nor Lender may commencc, join, or be join~l to ,any Judicial action (as either an
individual litigant or tho member of a class) that arises from the other party's actions pursuant to this
Sect~rity Instrument or that allet~ that the other party hu breachod an~ Provision of, or any duty owed by
reason of, this Security Imtrument, until such Borrower or Lender has notified thc other pray (with such
notice given in compliance with me requirements~ of Section 15) of such alleged breach and afforded the
other party hereto a re. enable period eider Ihe giving Of such notic~ to take corr~jve action. If
Applicable Law provide~ a time period which mu~t elapse befor~ certain action can be taken, that time
period will be dee~d ~o be re. enable for purpose~ of this paragraph. The notice of accelera~on and
opportunity to cure liiven to Borrower pursuant ~o Section 22 and the notice of acceleration §ivan lo
Borrower purmunt r.o $~'tion 18 sh~ll be desmed to satisfy the notice a~d opportunity to ~ake corrective
action pwvisions of this Section 20.
ill, Hazardous Substances. As used in this Section 21: (a) "Hv~rdous Substances' are thoze
~bstanc~ defined as toxic or hazardous substan~, pollu~mts, or wastes by Environmen~l Law and tho
followini substances: gasoline, kerosene, other flammable or toxic petroleum ProdUC~, toxic pesticides
and herbicidm, volatile solvents, malerials cont~n!ng asbesios or formaldehyde, sad radioactive materhls;
Co) "t/nviromnantxl Law" moans federal laws and llws of the juri~diction where the Property i~ localed thai
relate to health, safety or ~nvironmon~al pro~ec~10n; (c) "Environmental Cleanup' include~ any response
action, remedi~ ~'lion, or r~moval action, as de~f~ in Environmental Law; and (d) an 'EnVironrr~tal
Condition' mean~ a condition that can cause, COntrtbule ~o, or o~'orise ui~ger au £nvironm~ntal
Cleanup.
Borrower shall not calu¢ or l~rmit the pr~l~ce, use, disposal, storage, or r~lease of any Hazardous
Substances. or threate~ to release any Hazardous ~bst~nces, on or in the Property. Borrower shall not do,
nor allow anyone else to do, anything affecting th~ PrOper~y (a) that is in violation of any Environmen~al
Law, Co) which cresses an Envirov. me~al Condition, or, (c) which, due ~o th~ pre~ance, use, or rel~ar~ of a
Hazardous Sub~ance, creams a condition that adversely dfeco the value of the Property. The prw. oding
two sonumces shall not apply to the presence. ~se. or storage on the Property of amall quantities of
H~rdous Sub~ances tha~ a~e generally recogn&2d to be spprol)fia~e ~o normal residanti~l us~s and Io
maintenanc~ of the Property (including, but not limi~ to, hazardous substanc~ in consumer products).
Borrower shall promptly give L~der written notlc~ of (a) any investigation, claim; demand, lawsuit
or other a~tion by any governmental or r,'gulatory: a$ency or prtvat~ p~'y involving the Property and any
Hazardous Sl~b~tance or Environmeiltal Law of which Borrower h~s actual knowledge, Co) any
Environmental Condition, including but not liml~ed to, any spilling, leaY. ing, dj,charge, release or threat of
rel~ze of any Hazardous Substance, and (c) sayi condition canard by the presence, use or release of a
Hazardous Substance which adversely aff~c~ ~h~ Value of the Property. If Borrower learns, or is noiified
by ~ govenunental or regulatory authority, or any private party, that any removal or other remediatinn
of any Hazardouz Substance affecting the ]h'operty its necessary, Borrower shall promptly take all nece~s~
remedial ~ction~ in accordance with Environmen~ L~w, Nothing har~[n shall create any obligation on
Le~er for an Environmental Cleanup.
4~-SQtWY~ cooo~] ~ ~3 ~' ~,, Form 3051 1101
NOU 05 2002 10:1G
~R W~HM 40~ 5JG ~G01
TO 91~0788G8488
2,34
NON-UNITORM COVENANTS. Borrower and Lender further covonattt and agree ~s follows:
22. Acceleration; Remedies, Lender shall give notice to Borrower prior to acceleration following
Borrower's breach of any covenant or agreement in this Sc~--urtty Instrument (but not prior to
acceleration under Section 15 unless Applicable Law provides otherwise). The notice shall ~]~; (a)
the default; Co) tho action required to cure the default; (c) a date, not less than 30 days from the date
the notice is given to Borrower, by which the default must be em"ed; and (d) that failure to cure the
default on or before the date specified in the n .o~ce may result in ac~.eleratiou of the tnm~ secured by
this Security Instrument and sale of the Pro ,i~... Tire notiea shall further Inform Borrowar of the
right to reinstate after acceleration and the rigl~t to bring a court action to assert the non-existence of
a default or any other defense of Borrower to acceleration and sale, If the default is not cured on or
before the date specified in the ~zotlce, Lender at its option may require immediate payment in full of
all sums seem"ed by this Security Instrument without further demand and may invoke the pawer of
sale and any other remedies pm-mitred by Al~pllcable Law, Lender shall be ~ntitled to coll~,t ali
expenses Incurred in pursuing the rmiedl~ pro~id~ in this Section 22, including, but not limited to,
reasonable attorneys' fzes and costs of title evidence.
If Lender invokes the power of 9ale, Lender shall give notice of Intent to foreclose to Borrower
and to the person in possession or the Property, if different, in accordance with Applicable Law.
Lender shall give notice of the sale to Borrower in the manner provided in Section IS, Lender sludl
publish the notice of sale, and the Property shall be sold in the mn*~er prescrl~ by Applicable
Law. Lender or its designee may purchase the Property at any sale. The pronto, ds of the sale shall lin'
applied in the following order; (a) to all expenses of the sale, including, but not limited to,
reasonable attorneys' fees; CO) to aH sumq secured by this Security Instrument; and (c) any excess to
the person or persons legally entitled to it.
Z3. ll~lease. Upon payment of all sums secured by this Serenity Instrument, Lender shatl release this
Security Inst. Borrower .,.!~11 pay any rcco~ation costs. Lcnd~r may charse Borrower a f~ for
relceSin8 this Security Imtrument, but only if ~¢, fee is paid to a third party for services rendered and the
charging of the fee is permitted under Applicable Law.
Waivers. Borrowcr role. ecs and waiVes a~l fichu under and by virtue of the homestead
e~emption laws of Wyoming,
Form ~081 1/01
NOU 05 ~00a 10:1G
FR WFHM
40;~ 5;3E~ ~E~OI TO 9!307881~9488
P.17
235
BY SiONINO BELOW, Bo~row~ aix~pt~ ~d a~j'e~s to ~he torres and covenan~ confined in thim
Security Instrument and In any Rider executed by'Borrower and recorded with it.
Witnesses:
WILLIAM W. 9TRUR-I~- -aorro~,r
(Seal) (seal)
-~orrowcr *~orrowor
(.~d)
(Seal)
-Bon'ow~r
(Se~)
.Borrower
Form 3051 1/01
NOV 05 2002 10:IG FR WFHM
40~ 536 2B01 TO 913078869488
P.18
STATE OF WYO~, T~z~oz~
My Commission F. xpkc$: February 2, 2006
Notary Public
County ss:
2002
~.6G(WY)
Form 3051 1101
N0U 05 2002
FR WFHM 402 5136 2601 TO
913078869488
P.20
2. 3 7
PLANNED UNiT DEVELOPMENT RIDER
THIS PLANNBD UNIT DEVELOPMENT RIDBR ii m~de this 5~'~ day of
NOV~BB3t, 2002 , ~nd is in~og~or~ed in~o ~nd shall be
deemed to amend and supplement the Mortgage, Deed of Tms~, or Security D~I (the "Security
Insmunent") of ~¢ same dm~e, given by the und/migncd (~e "Borrower') to secure Borrower's Note to
(the
"Lender") of the same date and covering fl~e Property dezcdbed in the S~trity lnstmmem and located a~:
158 HOLLY DRI'V'B, /'~1'1~, WY 8312'/r
The Pmper~ include~, but i, not limited w, a parcel of l~d improved with a dwellin/~, together with other
m~ch parcels and certstn common area~ and faculties, as deicribed incovinlk~9, CONDZ~ZOI~B ~ .
]UiI.,qTRZCTZO~B
(ihs "Declaration"). The Property is a pan of a plsnned unit d=velopment known as
STAR VALLEY RANCH
[N~'n~ of PI~.%~ Unit
(the "PUD"). The PropenT also inclt~ Bo~o~'s ~ ~ ~c.ho~s ~i~tion or cq~v~
~ti~ o~g or m~ ~e ~n ~u ~' f~iti~ of ~e
m~, ~fl~ md ~s of ~o~w~'s ~.
~ CO~N~S. ~ ~tion to the coV~ ~d
A, P~ Ob~. ~w~ ~ p~o~ ~1 of Bo~w~'s obli~tio~ ~d~ ~e PUD's
~r~n, ~t ~t or ~y ~i~ ~t w~ cr~ ~ O~ A~on; ~ (i~)
~y by-laws or 0~ ~ or,~lations of ~c 0~ As~ation. ~ e~l pro.fly pay, wh~
due, ~I du~ ~d ~en~ ~pos~ p~t ~ ~ Co~ti~t D~.
0011~71231
MULTISTATE PUD RIDER - Single Family - Fannie Ma$/Praddl, Mac UNIFORM INSTRUMENT u~[orm 3160 1/01
Page 1 of $ inlllale:
~;7R {0008) VMP MORTOAG~ FORMS · (800)521-7291
~OV ~5 ~ 10:1~ FR WFHM
402
238
B. Property lmurance, So long as ~ Owners Assoctalion maintains, wi~h a g~e~ly ~t~
w~ch provid~ ~ ~v~e ~ ~e ~ (~S ~du~ble 1~?), for ~e ~s,
ag~ lo~ by fi~, ~ds ~ud~ wi~ ~e t~ ext~d~ ~v~e, ~ ~y o~
~g, ~i not 1~ io, e~u~ ~d fl~, for ~ ~e~ r~ ~u~, ~: (i)
~d~ w~v~ ~o provision ia ~on ~ for ~ P~odic Pa~t ~ ~.~f ~ ~c~y
i~l~ for pr~ ~ce o~ ~ ~pmy; ~d (~) Bo~w~'s omtimon ~r ~on ~ to
wv~ ~ provid~ by ~e ~rs Ass~iaion Wlicy.
~ ~d~ r~r= ~ ~ ~ndition of ~bis wdv~ c~ chic d~ ~= ~m of ~e lo~.
~ower ~ ~ve ~d~ proof no~ce of ~y lapin ~ ~ p~ i~ wv=~
p~vid~ by ~e ~ or bl~ policy.
In ~e ~ of s d~bution of pm~y i~ pro~ in 1~ of r~or~on or r~r f0110w~E
a loss to ~e ~o~y, ~ ~ w~on ~ md f~ilit~ et ~ PUD, ~y pro~ payable W ~wer
he~y ~s~ mdsh~l ~ p~d to ~nd=r, ~der sh~l ~ly ~c p~ m ~e ~ s~ by ~e
S~fi~ ~t, whe~ or not ~ due, ~ ~e ex.ss, if ~y, pgd W Bo~ow~,
C, ~b~e LisbffiU ~ce, ~w=r ~1 ~e ~ ~fiom u ~y ~ re~nablc to
~ 0~ ~so~on ~t~ a public liabfl!~ ~u~ ~licy ~le ~ fo~, ~t, md
cx~ of ~v~e lo ~nder.
D. Condsmss~on. ~e ~r~ of ~ awed or cl~ br d~=, d~t or
pay~lc to Bo~w~ ~ co~on ~ my ~stion or o~er ~t of ~ or my pm of ~
or ~e co~n ~ ~d f~ili~es of ~e PUD, or :for ~ wnv~ ~ li~ of ~~ion, ~e h~by
~sl~d ~ ~1 ~ p~d to ~d~. ~ p~ ~ be ~pli~ ~ ~d~r ~ ~e ~ ~r~ by ~e
E, ~d~s ~or Co~t. ~ower ~! not, ~t ~ ~ce ~ ~ ~. ~
p~or ~ w~t. 8~er pmiflon or ~ivide ~ ~ or ~m~t ~:. (i). ~e ~~
~tion of ~e PUD, e~t for ab~~ ~ ~on ~ui~ W hw m m~ ~e o~
d~on by ~= or o~er ~ or i~ ~e ~ ~ a ~ }~.~~on.o~t ~n; (~)
~y ~~t ~ ~provision of ~e .... 'Cons~ D~' Ir me pmv~s~on .... Is ~or m~ ex~.,r~s
of ~d~; (iii) m~ation of prof~s~on~ ~~ ~ ~s~uop ? m~-~~ ~!m~
Agociafion; or (iv) ~y ~ti~ whi& woold bsve me e~ m ~a~l ~ ~m~c u~m~
F. R~, If Bo~w~ do~ not psy PUD d~ md ~~ whm d~, ~m ~ may pay
~. ~y ~ts ~sb~ by ~ ~ ~ p~h N s~l ~ ~i~ debt of
~ by ~ S~ ~t. U~os Bo~W~ '~d ~er ~e ~o o~ .~. of pa~,
~ ~ffi be~ ~est ~om ~e ~te of ~sb~ent at ~ Nole ~e ~a snm~ ~ p~le,
~e~, ~n no~i~ from ~nd~r m ~w~r ~U~S paint,
~;7R (000B) PNle 2 of 3 F~m~ 3150 1/01
NOV
05 2002 10:17 FR WFHM
402 535 2601 TO
913078889488
P.22
239
BY $IONING BELOW, Borrower acc~p~ and at~ees m d~e mn~ and provisions con~Ined i~ ~hi~ PUD
Rider.
(Se~)
-Borrower
(~)
,, ($mi)
-laon~wari
(s~)
(~)i ($~)
-~orrow~:. -Borrower
O~TR (0008} Page 3 of 3 Pon'fl 3150 1101
NOU 0§
3~3950820343
18:17
FR WFHM
402 536 2G01 TO
913878869488
P.23
2. 4 0
VA GUARANTEED LOAN ~ ASSI. IM~ION POLICY RIDER
NOTICE: THIS LOAN' IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE DEPARTMENT
OF VETERANS AFFAIRS OR ITS AUTHORIZED
AGENT.
THIS VA GUARANTEED LOAN AND ASSuMPTIoN POLICY RIDER h made thlsS~ .' day
ofl;OV~(BILR, 2002 , ;md i, incoq~orated into ~d dudl be ~ to ~
aad aupplement t~e Mortgage, Deed of Trust or Deed to ~ Debt Caezel= "Sem~lty Instmmm)4") dated
of evea date herewith, given by the undemgned (lterein "BOrrower") to aecure Borrower's Note to
(herein "l.,~xd~") and covc'r~ ~¢ Property ducribed in the Security hatrumem ~nd located at,
VA GUARANTEED LOAN COVENANT: In addition to the covenants and a~reement$ rm~de in
Security InstTument, Borrower and Lender further eove~nt and agree sa follows:
If the indebtedness secured he.by b~ gttarantc~ or insttred under Title 38, United Sme~ Code, such Title
and Regul~ons issued thereunder and in effect on ~he date hereof shall govern the fi~hts, dudes and
liabflitics of Borrower and Lender. Any provisions of the Security Ins:foment or other instruments
exccutcd in connection with said indcbtcdneas which ~c ~r, onslxtcnt with said Title or Rc~htiom,
iacltuling, but pot lin'limd to, the provLflon for paYmen~ of any sum in connection with pl~paym~t of the
secured indebte<L~ess and ~e provisiou [bat the Lender may accelerate payment of the ~uzed i~debtedneas
pursuant to Coveaant 18 of thCSecurit7 Instrument, a:c ~rcby amended or negated to the extent
·
tO co~fonn ~uch ir~'umcnts said Title or Regulagona.
MULTIEI'ATE VA GUARANTEED LOAN AND A&SUMPTION pOLICY RIDER
~)~638R (9904).01 v~[/SS
Page 1 of 3 Initial,: ~ ~
VMP MORTGAGE FORMS - (600)521.7291
NOU
05 ~00~ 10:17 ~R W~HH 40~ 5J8 ~01 TO S1~07~8~S4B$
P,?4
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LATE CHARGE: Al Lender's option, Borrower will pay a "Isle char/e" nog exceeding four per centare ·
(4%) of thc overdue psym~t when paid more thanififlc~n (15) days after thc due date thereof to cover the
~tra expense involved in handli~ delinquent payments; but such "late charge" shall not be payable out of
the proce~ of ~y sale made to sat~fy the in~teb~lness secured hereby, unless such proce~ ~re
sufficiem to discharge the entire indebiedness and all proper costs and expen~ secured hereby.
GUARANTY; Should the Depanmem of Vetar~us Affairs fall or refuse to issue its/uaramy in ~ amount
within 60 days from the ds/e tha! this loan would normally become eligible for such guaranty committed
upon by the Department of Veterans Affairs under thc provisions of Title 38 of the U.S. Code "Veterans
Benefit~," the Mor~gai;ee rn~y declare the indebmdness hereby sectLmd si once due and payable and may
foreclose immediately or may exercise any other fights hereunder or ~ any other proper actioni as by hw
provided.
TRANSFER OF THE PROPERTY: This loan maybe declared immediamly due and payable tqmn transfer
of the property securing such loan to any transferee, unless the acceptability of the sasuml~r/on of the loan
i., e~tabli.,hed purmmnt to Section 3714 of Chapigr ~7, Title 38, United States Co~. :
An authorized u'snsfer ("s~sumption") of the property shall also be subjea to sddidoml covemnt~ and
agreem~n~ as set forth below:
(a) p~$$UMPTION FUNDING NEE: A fee equal :Go one-hell of 1 percent (.SOY) of the balance of
this loan as of the date o£ trtn~ier of the property shall be payable at the time of transfer to the loan holder
or its authorized agem, as trustee for the Depara~nt of Veterans Affairs, If the assumer falls to pay this
fee at Lhe time o£ transfer, the fee shall constimm au a/lditional debt to that already secured by this
instrument, shall bear inmre~t at the rate herein provided, and, ~t the option of the payee of the
indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is
autom~ically waived if the mumer is exempt uud~ thc Provisions of 3ti U,$.¢. ~729 (c).' ~
(b) ASSUMFI'ION PROCESSINO CH,~I~t~Bi Upon application for approval to allow ass,minion of
this loan. a processin~ fee may be ~arged by file loan holder or i~s authori~d agent for determi~in~ the
cmiitworthiness of the assumer and subsequmtl~, revising the holder's ownership mcorde when an
approved ~ramfer is completed. The amount of thi~ charge shall not exceed ~e maximum e~tablished by
the Deparmlen~ of Veterans Affairs for a loan to which Section 3714 of Chapter 37, Title 38, Until Sh~es
Code applies.
(c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then th~ assum~r hereoy
a/tees ~o assume all of d~e obli~slions of the vaerm under th~ mrms of the insm~mauts cma~lng and
s~c~u'ing the loan. The asmmer further agrees to iimiemnify the Depanme~ of Vete~ Affairs to ~he
extent of any claim paymaut arlaing from the guaranty or insurance of the indebtedness created by this
-t31R (9904).01
NOU 05 2002 10:17 FR WFHM 402 5~ 2~01
TO 913078869488
P. 25
242
IN WITNESS WHERBOF, Bo~owe~(s) h~ ex~!!~ thl~ VA Oua~anteed Loan and Al~mption Policy
Rider.
-~Yower I:)XAIllG ~. $'~R17~ -llon~w~r
d~.$;18R (9904),01