Loading...
HomeMy WebLinkAbout891984Return To: WELLS FARGO HOME MORTGAGE, INC. 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, M/~ 55435 Prepared By: WELLS FARGO HOME MORTGAGE, INC. 1919 DOUGLAS,, OMAHA, 681010000 -[Space Above Tiffs Lh~e For Recordfl~g Data] 333 MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sectioms 3, 11, 13, 18, 20 and 21. Certain roles regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means dais document, which is dated JULY 2 1, 2 0 03 together with all Riders to this document. (B) "Borrower" is CHARLES W KROLL AND ARDITH L KROLL, HUSBAND AND WIFE Borrower is the mortgagor under this Security Instrument. (C) "Lender" is WELLS FARGO HOME MORTGAGE, INC. Lender is a CORPORATION orgafized and ex/sting under tl~e laws of THE STATE OF CALIFORNIA 0029286978 WYOMING-Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (~®-6(WY) ~ (0005) Page 1 of 15 Initials:_ VMP MORTGAGE FORMS - (8OO}521-7291 , ,[ Form 3051 I/Ol Lender's address is P .0. BOX 10304, DES MOINES, IA 503060304 Lender is the mortgagee under this Security Instrument. (D) "Note" meaus tine promissory note signed by BmTower and dated Jur.¥ 21, 2 0 0 3 The Note states that Borrower owes Lender SIXTY FTVE THOUSAND PTVE HUNDRED TWENTY FIVE AND 00/100 Dollars (U.S. $ * * * * * 6 5,5 2 5.0 0 ) plus interest. Borrower has promised to pay this debt iu regular Pefio dic Payments and to pay the debt in full not later than AUGUST 01, 2 0 3 3 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (17) "Loan" means the debt evidenced by fine Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due m~der fids Security Instrument, plus interest. (G) "Riders" means ail Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [~ Adjustable Rate Rider ~ Condominium Rider ~ Second Home Rider ~ Balloon Rider ~ Planned Unit Development Rider ~ 1-4 Family Rider ~] VA Rider [~ Biweekly Payment Rider ~ Other(s) [specify] (Il) "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, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessm.ents and other charges that are imposed on Bon-ower or the Property by a condominium association, homeowners association or sinfilar organization. (3) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by .check, draft, or sinfilar paper i~zstrument, which is initiated through an electronic terminal, telephonic instrunmnt, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers irdtiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insnrance" means insurance protecting Lender against tine nonpayment of, or default on, the Loan. (N) "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. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that goverus the same subject matter. As used in this Security Instnnnent, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if fl~e Loan does not qualify as a "federally related mortgage loan" under RESPA. Initials:__ .~,.~ Form 3051 1/01 (~6(WY) (ooo~) Page 2 of 15 3 3.5 (P) "Successor in Interest of Borro~ver" means any party that has taken title to flze Property, whether or not dmt party has assumed Borrower's obligations under fl~e Note and/or tiffs Secm'ity Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and ail renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this propose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the COUNTY of LINCOLN : [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LOT 47 IN STAR VALLEY RANCH LAT 7, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. *SEE ADJUSTABLE RATE RIDER TAX STATEMENTS SHOULD BE SENT TO: WELLS BOX 10304, DES MOINES, IA 503060304 FARGO HOME MORTGAGE, INC., P.O. ParcellD Number: 49023 164 CEDAR DRIVE THAYNE ("Property Address "): which currently has the address of [Street] [City] , Wyoming 83127 [Zil~ Code] TOGETHER WITH all d~e improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BO~OWER COVENANTS that Borrower is law~lly seised of the estate hereby conveyed and has the right to mortgage, grant and convey ~e Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to ~e Property against all claims and dmmnds, subject to any encmnbrances of record. THIS SECURITY INSTRUMENT combines mfiform covenants for national use and non-u~form covenants wid~. linfited variadous by jurisdiction to constitute a uniforu] security instrument covering real property. UNIFO~ COVENANTS. Bo~ower and Lender cove~mnt and agree as follows: 1. Payment or Principal, Interest, Escrow'Items, h'epayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note aud any prepayment charges and late charges due under the Note. Borrower shall also pay ~nds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument' received by Lender as payment under the Note or this lnitials:~ Form 305~ 1/01 ~;6(WY) (0005, Pa~ 3 of ,5 ~, ~ ~/ smnomv, o~ 'oiq~£v.d o_toq~ put uoqax '~iloo~!p fad IlUqs .~o.r~o8 ~o,~ qons jo IU~A~ 0rD nl '~TU1F~ m ol smnomu jo sooUou IIU .rop~o~ ol ~sput~ KIldmmd liU~s roaxoxJo~ 'mo!I ,~o_~os~ uu oq II~S smomssossu (o) :Xu~ j, 'X~odosg o~H no sm*-~ puum~ zo sluomX,d PlOqOS~¢I (q) :~odo-~d o~H uo oou~iqumou~ _to uoH _t~pun onp uJdlan!_~d ol spoooox4 snoouu[loos!~N ~o 'spoooo.td oouu.msm 'sluom~ud jo uo!luaHddu Xuv 'OlON orD jo oOUuluq IUdpu[~d orD oonpo.r o~ uo¢ pun 'mom~lsuI ~]T~DooS sFH ~opuu. adp smnom~ xo~o Xn~ ol puooos ~so~uqo ~1~I ol lsz~ p~[dd~ oq I[mlS sm~mK~Jd q~nS 'E uouooS _rCpun onp slrmo~u (o) '.OlON orO ~opun ,up IUCI'[ouvd (q) '.OlON D~1 ~pun ~np 1s~olu[ (u) :K~Ho[xd jo _~opzo ~uDXOl[OJ ~r¢ uT poj[dd~ oq lIURS ~opu,~ ~q poHddu pun potdooou lin ~ no?oS' siC uT poqvosop os[~Jo¢o su idoox~ 'spooDoJ8 ao sluomXud jo uoHuDHddv 'Z 'lu,mn~]suI gu[pumsluo o~ o~ poTIdd*J oq iiF~ spu<j ~ans 'xoH~uo poHddu lou JI '~oaoxxoH o} mo~ u~mo~ _~o spu~ qous ~iddu lo~? IImlS ~opu,~ 'omni jo poNod oiqmmsuoz ~ u~[~ os op Con soop ~o~o.uoH j[ 'mo~_mo u~o~ ~u.[_tq ol momX~d so~ xo,xxoxzo~ iHun spu~ po[idd~m qons ploq ;(m.u _ropno% 'spu~ po[Idd~un uo lu ~o OlON otp u! pol~?op uo?ooi mD 1~ poaNoo~ uoq~ _~opu~7 ~q. po~Naoz pauoop ~u smomXUd · zojsu~& spun~ oNo_~OOlH (p) ~o '.~lUuo zo 'KlII~lu~m~lsu[ '~ouo~u I~opoJ u ~q pomsu[ o_ru sl[sodop osoqax uo!lmU~[ u, uodn ua~u_~p si ~OOtlO qons ~'ttu pop,Amd '~ooqo su 'suuoj ~u[~OllOJ orH jo ~.totu ~o ouo u[ op~ oq luomn~lsuI ,(![~uooS sFH pun ~!ON o~ ~opuu ~up due for any Escrow Items for wlfich payment of Funds has been waived by Lender and, if Lender requires, shall, funfish to Lender receipts evidenci~g such payment within such time period as Lender may require. Bon-ower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained, in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender znay revoke the waiver as to any or all Escrow Items at any dine 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 umy, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estinmte the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall 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, azmually amalyzin.g the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law perzmts Lender to nmke such a charge. Unless an agreement is nmde in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. BozTower and Lender can agree in writing, however, that interest shall be paid on the Fmxds. Lender shall give to Borrower, without charge, an ammal accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess, funds in accordance with RESPA. If there is a shortage of Funds held 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 more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Bol~'ower shall pay to Lender the amount necessary to nmke up the deficiency in accordance with RESPA, but in n.o more than 12 monthly payments. Upon payment in full of all sums secured by this Security Insmzment, Lender shall promptly ref-and 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 Security Instrument, leasehold payments or ground rents on the Property, if any, and Connnunity Association Dues, Fees, and Assessments, if any. To the extent fi'mt these items are Escrow Items, Borrower shall pay them in the mamxer provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instl-ument unless Borrower: (a) agrees in writing to the payment of the obligation secured by fl~e lien in a lnam~er acceptable to Lender, but ozfly so long as Borrower is perfornfing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings wlfich in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but o~aly until such proceedings are concluded; or (c) secures from the bolder of the lien an agreement satisfactory to Lender subordinating fire lien to this Security Instrument. If Lender deternfines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the LO/L L~OgUmo-i ~r ~JAA 'onp uorp lou xo ~orDoq~ 'mom~lsuI Xl~nooS s!¢ ~q po_moos ~ns o~ o~ poHddu oq IlUqS spoo~o_rd oau~msu! o~p 'pouossoI oq plnoa Ku.moos s,~op~o~ _m olqls~oJ fli~O~ouooo II "io~o~oH jo uo!luTHqo o[os 0¢ oq tluqs puu spooamd Xq pou$m,~ 'sop_~d P-~P¢ xo¢o _to 'sxolsn[pu oHqnd oo_~Bu osl~.tot¢o ~o&o.LmH puu .~opuo~ ssog~ '~o&o~o '~s[.~ ~u~ lsu[~ '~l~odo_~4 o~ jo smoluo3 o~p ~o '~l~odoJdoto u[ ~][nbo s,~o~ozroH '~o~o_~o~ ioo]o~ct ]ou 'xo&or~o~ Xq uogoo[qo uu mmj o~ _raj olqlsuodso~ oq osI~ IiUqs :oa~o~o~ 'uop~otjpxoa _m uo!]~_to~op qons !oojju lq~Fu ~Iq~osgo.~ sjppuo~ ol 3oofqns zo,¢ozzoH ~q uosoqo oq llgqS oou~msu~ lut[l spovod mil mj puu (SlOAOI oiqDonpop ~u[pnloU[) smnomu orpu[ pou[ulu~u oq iiutls oouu~nsu[ sFi& 'oouumsut soxmbox ~opttoq qopI~ xoj 'spooH pug so3gnbt¢~go Kug puu ,,'o~g.ro~oa popuolxo,, m_ml otc u[$[~ popnlou uo poloo~o _tolJgo~oN xo ~u!ls~ ~ou smomoamdm[ Io/pu~ uO[~gOU~_rOA xv:] O~lS~ I~O-~ ~ 2nj~. o~_rt~qo omn-ouo ~o ouo oqm ~o uaH Otll fjspus IlUqS xo~m~oH 'uo~t~ s the excess, if any, paid to Borrower. Such insurance proceeds shall. 'be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender nmy file, negotiate and settle any available insurance claim and related matters. If Bon'ower does not respond within 30 days to a notice from Lender that the inSurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begiu 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 iusm'ance proceeds in an amount uot to exceed the amounts uupaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any retired 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 Bon-ower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy tl~e Property as Borrower's principal residence for at least one year after fl~e date of occupancy, uNess Lender otherwise agrees in writing, which consent shall not be unreasonably withl~eld, or unless extemmting cimumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance anti Protection of the Property; Inspections. Borrower shall not destroy, danmge or impair the Property, allow the Property to deteriorate or conmdt waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property iu order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair fl~e Property if damaged to avoid further deterioration or danmge. If insurance or condem~mtion proceeds are paid in com~ection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property oNy if Lender has released proceeds for such purposes. 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. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent nmy nmke reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of file 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 mater:ially false, misleading, or inaccurate irffornmtion or statements to Lender (or failed to provide Lender with material information) in com~ection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of. Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants aud agreements contained in tlds 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 conde~mmtion or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to en~brce laws or 'regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay lbr whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable t~-6(WY) (ooo5) ~.~ 7 of 15 Form 3051 1/01 luoruoo.r~? t[~ns :[I 'sosso[ 7u?npoz zo '~s!z s.zoznsu[ oJuT]xom orp ~u[~!pom zo ~u!zu~ts zoj ' (~a~mo_rd oouu_mmrI - o] poqnbo~ stun~uo~d o~ ,<ud [Im[S ~o_uo~ 'oouum~I o~]zoN .~oj srunruJo:[d ~¢ pxu~xo] polm~sop ~[ol~_u~dos 03~ o] poz[nb~_~ s~ax ]~o_uo~ puu u~oq ~[p ~u[3~ jo uoj]!puoo ~ su oouu~n~I (soz[nbo_~ .~opuo~ ~3~ povod o¢ ~oj puu ~unomu o~ ur) o~u.~oAoo oouu_m~.I ogug~_~oi~ jr siuoru,%d ssoI o.~mbo~ zoTuoI ou u~m ~oprmH 'o~osoz ssoI rIons uo sTu~ruo ~o lsozolu[ ~uu ~o~xozro~ ~fud m po_~!ubo.r 'uos~o_~ ~ zoj ~JI 'loojj~ ur oou~zu~I 07~glzO~ O~ U[U~U[~ O! po.~[uboz sum~ozd o~ ~d llmlS sso~u o~m ~ou [Wqs opp ooj o~ p~u ploq~suo[ ~p '~]zodo_~d oq~ o] opp ooj so~mbo~ ~o,~o~zo~ JI ~upsouboz .~o~o~oH o~ zopuo~ mozj oollou uodn '~sozolu[ ~[ons ~p!~x 'olqu~d oq IWqs pu~ ]uomos_mqs!p zo~xoJzo~ jo lqop Iurrorl[ppu muoewq IW~s 6 fro?os s~ ~pun _~puo~i Xq p~s_mqs[p slunomu ~uv ' 6 uo!looS s~ ~opun poz~orpnu suopou lou s~ puu os op o1 o~urI lou soop xopu,~ '6 uopooS S~ ~opun uopou o~m ~mu ~opuo~ q~no¢iv 'jjo zo uo pou~m so!]~lpu o~ur[ puu 'suoplpuoo sno~oTuup xo srro!~uio!A opoo zorDo _to gnlPI[Uq olm~N~Ho 'sod~d mo_II 'o~ pop,nil 1o~ s~ mq 'sopnlou[ X]z~do_~d o~p ~ul~uooS '~u[poooo~d fmd~uuq , ur uo!qsod poznoos gu[pni~u[ 'n~otutulsuI ~[~nooS sFp ~opun Sltlg!} _~o/pug ~doxd o~O ur ~sozoCu[ sl[ loa~o~d o1 soEl Co) Any such agreements will not affect the rights Borrower has - if an), - with respect to the Mortgage Insurance under 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 Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termiuation. 11. Assignmeut of Miscellaueous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration o1' 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 Miscellaneous Proceeds until Lender has had an opportunity to inspect such P~-operty to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender nmy pay for the repairs and restoration in a single disbursemem or in a series of progress payments as the work is completed. Unless an agreement is made in Writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sinus secured by this Security instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. in the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this 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 wlfich the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater titan the amount of the sums secured by this Security Instrmnent inunediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the stuns secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by rite following fraction: (a) the total amount of the sums secured inunediately beibre the partial, taking, destruction, or loss in value divided by (b) the fair market value of the Property im~nediately before rite partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property inm~ediately before the partial taking, destruction, or loss in value is less than thc amount of fire sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for danmges, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, 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. Borrower shall be in default if any action or proceeding, whether civil or crin~n~d, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in thc Property or fights under fids Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided iu Section 19, by causing rite action or proceeding to be disnfissed 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 Instnnnent. The proceeds of any award or claim for danmges that are attributable to the impairment of Lender's interest in rite 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. tO/I- L~O~ ~mnoos s~ _~pun momo~tubo_~ ~n!puocIso~oo otp ~p~s Ilm momo~nnbo~ ~q olq~oHddv ~l~O!i~dv ~opun pozmb~ ~sI~ s~ mom~suI X~PnooS s[~ ,(q ~o~[nb~ oopou Xu~ JI 'x~pu~q ~q m oouou AoV -zo~ozm~ ~ oopou ~q sso~zpp~ ~0T00U~ pm~s0p s~q zopu~ ssoNn uNxoq pol~ls ~uV 'o~titl ouo ~uu ~g luom~l~rI KIvnoos sNI ~opun ss~ppu oonou pol~s~p ,uo XNo oq. 'o~upoooJd poupods ]mil ti~uo-~ sso~ppu jo ~Umla ~ xodax ~0' IFqs ~o~xozro~ u~ 'sso~ppu jo s,~oaxo~o~ ~up~odo~ ~oj ampooozd u sag?ods ~opuo~ JI 'sso~p'pu jo o~nmlo s,~8~ozm~ jo ~opuo~ ~ildmo.~d IlUqS .~axo~ro~ 'xopuo~ o! aopou ~q ssozppu oapou omlpsqus u 'poluug!soP sutI sso~ppv ~lxodoxd ~¢ oq Hm[s ssoxppg oopou oq$ 'os[~zo~o so~mbo~ ~ISSOZdxo axu~ oiq~oHddv ssogm ol pomoop oq IlmiS luouum~rI flVnooS s~¢ T-p~x uops~uoo u~ .t¢~o-uoH o] oo~lou ~nV '~upT~x u[ oq ]snm -ag_n~qoJoao qous jo Xq op~{ putg~x qons Xuu jo oou~ldoosu s,~o,~o~o~ '(mo~ o~ ~apun mj pap!Ao~d s~ o~mto moruX~do.~d o~ 'Iud~ouud saonpox pmvoz u ~I '~°~°~°H ol ~uouMud loo~[p u ~u~3um Xq ~o o!oN ludouud o~ ~u[onpo_~ Xq pmvo_~ s~ o~ ol osooqo Xinu ~opuo~ '.ro~xono~ o, popu~ox oq poljgu}od popoooxo qo¢lm xo~o.uo~ mo~j po]OOl[OO ~puoqu sums ~uu (~ puu '-~NUI POnNu°d otp oonpo_~ ol ~_t~ssooou mnom~ o~ Xq poowox ~q IP;qs o%~qo u~oI qons Xu~ (~) :u~ 's]Fu[I pollF~od ~ poooxo u~o~ ~ rp!~ uouoamo3 m polooI[oo oq o1 ~o polsolIOS sggxm[o u~o[ rolo .m os polo~olm ~IlmnJ s[ ~ul l~ql pm~ 'so~qo u~oI mmu~u sl~s qo[q~x ~I ~ m ]so[qns s~ sFP _topuu s~qgp puu ~(]~odof4 orp u~ !sosau~ s,xopuo~ ~upoolo~d jo oso~nd o~ xoj hlmgoP 'zopuoq jo su~ssu puu s~ossoosus o~p ]tjouoq puu (0~ u°u°og u~ ~suoIO~ qons ol soo~u xopuoq ssopm lu~tmul~q ~IVnooS s[~ ropun Xl[Ilqu![ puu suopu~!Iqo sj~o_uo~ u~glqo IlmlS 'xopuo~ ~q paAmddu s~ pug ~gup[_~ ur luommlsuI ,(lVuooS s'~ _roptm ~opg~Hqo s~mnssu oq& xa~xo_uo~ jo lso~ol~I ut sossoosnS ~uu '81 uono~S jo sumst~ozd a~ ol ' '" 'I[rSSH0O Xlr_moos sttp ~q poxno~s ~uns o¢ ,{ud o! polu~[lqo XII~osxod !ou s~ (q) '.luomn~l~q ,(lpnsag sFP jo s~t¢ ~um~s-oo s~ (u) -(jxoug~s-oo,, u) ~lON o$ muooxo lou soop mq luommlmq X~pnoog syO sug?-oo o}I~ ~o~o~o~ X~u '~o~oH 'IuzoAos puu lu~o[ ~q IlmlS XlH~qu[ puu suopu~lqo s,x~so~o~ Slu~t~AOO -IO&O~OH 'punofl SUglSSV pllg saoss~aanS ~snougls-oo ~Xllllqu~ Igao~aS puu zo jo Z0Atg& g oq ]0U llmIS 'onp uo~ lunomu 0¢ umg SSOI smnomu u[ .m _to~xo~mH Jo lsozomI u! s_tossooauS xo lq~t} Xug ~tns~oxoxo ut ~opuo~ ~q oouu~uoqsoj Xuv '~o~oztoH jo lsasoluI u[ sxossooons imt~t~o atp ag ~oum pu~tt0p XUg JO UOSU~ ~q luaumt~suI ~lvnoos s~ Xq pa_mo~s ~us ~ jo uopuzll~otu~ ~j!Oo~g ,st~x~g~o io !uoruXud soj O~tp pu0lx0 01 OS~O~ 01 ~0 ~,~0_uo~ Jo CS0-~01UI ut soss0oong xapuaq Xq po]uu~ momm~suI ~l[-t. noos s!~ Xq poznoos sinus o~ jo uonuzmouxs jo uopsoU!POm xo .toJ amp aC jo uo[suolx~ 'aaMu~ u 1oN aapuaq ~fl aauuauoq.m,~ ~posuolaB IoN aoa~oa~o~ 16. Governing Law; Severability; Rules of Construction. This Security Instpament shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights aud obligations contained in' this Security Instrument are subject to any requirements and liraitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note wlzich can be given effect without the conflicting provisiou. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feral'nine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in tiffs Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, d~ose beneficial interests transferred in a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, the intent of which is the transfer of title by Bol~:ower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred. (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all stuns secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. if Lender exercises this Option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of tlzts pefiod, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the fight to have enforcement of lids Security Instrument discontinued at any time prior to the e~rli.est of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termi~kqtion of Borrower's right to rei~kstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under tiffs Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other coveuants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reaso~mble attorneys' fees, property it~spection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Bon'ower pay such reinstatement sums and expenses in. one or more of the following fo~ans, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn npon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall rent'tin fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in d~e Note (together with this Security Instrxnnen0 can be sold one or more times without prior notice to Borrower. A sale mi. ght result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments clue under rite Note and this Security Insmunent and performs other mortgage loan servicing obligations under rite Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer m~related to a sale of die Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, rite address to wlfich payments should be nmde and any other information RESPA I nit i als:__~./ Form 3061 1/01 requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage lom~ servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may coimnence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to dlis SecmSty Iustrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, fl~is Security Instrument, until such Borrower or Lender has notified Lhe odxer party (with such notice given in compliance with d~e requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action calx be taken, that time period Will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportulfity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy' the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, nmterials containing asbestos or fornmldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environnxental protection; (c) "Enviromuentat Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an 'Environn~ental Condition" means a condition that can cause, contribute to, or otherwise trigger an Enviro~mental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, o~' release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances fllat are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall prmnPtly give Lender written notice of (a) any investigation, claim, den:and, lawsuit or other action by any govermnental or regulatory agency or private party involving the Property and any Hazardous Substance or Enviromnental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govermnental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Enviromnental Law. Nothing herein shall create aa>, obligation on Lender for an Enviromnental Cleanup: Initials:_~_. Form 3051 1/01 345 NON-UNIFORM COVENANTS. Bo~Tower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleratiou following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleratiou under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) tim action required to cm'e the default; (c) a date, uot less than 30 days from tile date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secnred by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is uot cured on or before the date specified in the notice, Lender at its option ~nay require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and auy other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender iuvokes the power of sale, Lender shall give uotice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to BorrOwer in the manner provided in Section 15. Lender shall publish the notice of sale, aud the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in tile following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all stuns secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pa5' a~ty recordation costs. Lender may charge Borrower a fee for releasing tiffs Security Instrnment, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming.- (~-6(WY) (00051 p~ge 13 of 15 Form 3051 1/01 346 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in th.is Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: ~ 0..5 ~_,~-e__-.~ (Seal) CHARLES W KROLL -Borrower ARDITH L KROLL -Borrower (Seal) (Seal) -Borrower (Seal) -~orrower (Seal) (Seal) -]Borrower (Seal) Borrower I~t~6(WY) Page 14 of 15 Form 3051 1/01 STATE OF WYOMING-, LXNCOLN The foregoing instrument was acknowledged before me this by CHARLES W KROLL AND ARDITH L KROLL 21st day County ss: of July, 2003 347 My Com.missionExpires: June 20, 2007 Y C~N EXPIRES JUNE 20, 2007 ........ -~__~,,~ (~-6G(WY) (0o051 F~¢ 15 of 15 Form 3051 1/01 FIXED/ADJUSTABLE RATE RIDER (One-Year Treasury Index - Rate Caps) THIS FIXED/ADJUSTABLE RATE RIDER is made tb2s 2 lST day of JULY, 2 0 0 3 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned ("Bon-ower") to secure Borrower's Fixed/Adjustable Rate Note (the "Note") to WELLS FARGO HOME MORTGAGE, INC. ("Lender") of the same date and covering the property described in the Security Instrument and located at: 164 CEDAR DRIVE, THAYNE, WY 83127 [Property Address} THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 4. 375 %. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as tbllows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial fixed interest rate I will pay will change to an adjustable interest rate on the first day of AUGUST, 2 010 , and the adjustable interest rate I will pay nzay change on d~at day every 12th-month thereafter. The date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on which m.y adjustable interest rate could change, is called a "Change Date." 0029286978 MULTISTATE FIXED/ADJUSTABLE RATE RIDER - ONE-YEAR TREASURY INDEX- Single Family ~ Fannie Mae Uniform Instrument (Il) The Index Begimfing with the first Change Date, my adjustable interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of one year, as made available by tim Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called tine "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation ol' Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND THREE-QUARTERS percentage points ( 2. 750 %) to the Current Index. The Note Holder w/Il then round the result of this addition to the nearest one-eighth of one percentage point (0.125 %). Subject to the lin~its stated in Section 4(D) below, this rounded amount will be my new interest rate until tile next Change Date. The Note Holder will then determine tire amount of the monflzly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I aH required to pay at the first Change Date will not be greater than 9.375 % or less than 2.750 %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than two percentage points from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than ~ · 37 S %. (E) Effective Date of Changes My new interest rate~ will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed interest rate to an adjustable interest rate and of any changes in my adjustable interest rate before the effective date of any change. The notice will include the amount of my monthly payment, any information required by law to be given to me and also fire title and telephone mnnber of a person who will answer any question I n2ty have regarding fine notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. Until Borrower's initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument shall read as follows: Initials:__ ~ (~843R (0006) page 2 of 4 ~:~ ~,._4/ //./~. Form 3182 1/01 Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" ineans any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, tile intent of which is the transfer of title by Borrower at a flm~re date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a ~mtura] person and a beneficial interest in Bon-ower is sold or transferred) witilout Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from file date tim notice is given, in accordance with Section 15 within which Borrower nmst pay ail sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted 'by this Secufit7 Instrument withm~t further notice or denmnd on Borrower. 2. When Borrower's initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of file Security Instrument described in Section B1 above shall then cease to be in effect, and the provisions of Uzdform ~ovenant 18 of the Secm-ity Instnunent shall be amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in flris Section 18, "Interest in the Property" means any legal or beneficial interest in tile Property, including, but not limited to,. those beneficial interests transferred in a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, the intent of wlfich is the transfer of title by Borrower at a future date to a purchaser. If all or any part of file Property or any Interest in the Property is sold or transferred (or if Borrower is not a ~mtural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in fldl of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to .rite loan assumption. Lender also nmy require the transferee to sign an assumption agreement that is acceptable to Lender and that obIigates the transferee to .keep all the prolnises and agreemems made in the Note and in this Security instrument. Borrower will continue to be obligated under the Note and this Security Insn-ument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Bo~iower must pay all (~tc~843R (0006) Page 3 of 4 Initials:~.~ Form 3182 1/01 351 sums secured by this Security Instrument. If Borrower fails to pay d~ese stuns prior to the expiration of tiffs period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Fixed/Adjustable Rate Rider. CHARLES W KROLL -Borrower ARDITH L KROLL -Borrower (Seal) (Seal') -Borrower -Borrows er (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (~<~843R (0006) Page 4 of 4 Form 3182 1/01 352 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 21ST day of JULY, 2 0 0 3 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date, given by the undersigned (the "Borrower") to secure Borrower's Note to WELLS FARGO HOME MORTGAGE, INC. (the "Lender") of fire same date and covering the Property described in die Security Instrument and located at: 164 CEDAR DRIVE, THAYNE, WY 83127 [Property Address] The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with driver such parcels and certain common areas and facilities, as described inCOVENANTS, CONDITIONS AND RESTRICTIONS (the "Declaration"). The Property is a part of a plam~ed unit development known as [Name of Planned Unit Development] (the "PUD"). The Property also includes Borrower's interest in Ore homeowners association or equivalent entity owning or maimging the common areas and facilities of the PUD (die "Owners Association") and die uses, benefits and proceeds of Borrower's interest. P~ COVENANTS. In addition to dm covenants and agreements nmde in the Security Instrument, Borrower and Lender fllrther covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Bo~ower's obligations under the PUD's Constituent Documents. The "Constituent Documents" are ~e (i) Declaration; (ii) articles of inco~oration, trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or o~er roles or regulatio~ks of the Owners Association. Bogower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. 002~286978 353 B. Property Insurance. So long as the Owners Associatio]~ maintains, with a generally accepted insurance carrier, a "master" or "bta~ket" policy insuring the Property wlfich is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any off]er hazards, including, but not limited to, earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives thc provision in Section 3 for the Periodic Payment to Lender of the yearly preufium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to 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 Lender requires as a condition of this waiver can change dm-lng the tmon of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the nzaster 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 corrosion areas and facilities of rise PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to rise sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public iLiability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in core, cc]ion with any condeml~ation or other taking of all or any part of the Property or the conunon areas and facilities of the PUD, or for any conveyance in lieu of condenmation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the stuns secured by the Security Instrument as provided, in Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandomnent or ternfi~ation of the PUD, except for abandonment or tenr, i~mtion required by law in the case of snbstantial destruction by fire or other casualty or in the case of a ta~ng by conde~m~ation or eminent domain; (ii) any amendment to any provision of rite "Constituent Docmnents" if the provision is for the express benefit of Lender; (iii) termination of professional nmnagement and. assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender, F. Re~nedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrnment. Unl.ess Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice front Lender to Borrower requesting payment. Initials:t~ I~7R (0008) Page 2 of 3 <~' ~,/~, Form 3150 1/01 354 BY SIGNING BELOW, Borrower accepts and agrees to fl~e terms and provisions contained in this PUD Rider. CHARLES W KROLL -Borrower ARDITH L KROLL Borrower (Seal) (Seal.) ~Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -]3orrower (~7R (0008) Page 3 of 3 Form 3150 1/01