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Home My WebLink About894239 ~ t~ Return' To: WELLS FARGO HOME MORTGAGE, INC. FINAL DOCUMENTS X4701-022 3601 MINNESOTA DRIVE BLOOMINGTON, MN 55435-5284 Prepared By: JENNY ROWE WELLS FARGO HOME MORTGAGE, INC. 3301 RIDER TRAIL SOUTH ST. LOUIS, MO 63045- BOOK RECEIVED LINOOLN COUNTY CLERK [Space Above This Line For Recording Data] MORTGAGE 0132389412 DEFINITIONS Words used in multiple sections of lhis documenl are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding lhe usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this documenl, which is dated OCTOBER 7, 2003 together with all Riders to this document. (B) "Borrower" is MICHELLE L. MAZUR Borrower is the modgagor under this Security Inslrument. (C) "Lender" is WELLS FARGO HOME MORTGAGE, INC. Lender is a Corporation organized and exisling under lhe laws o[ THE STATE OF CALIFORNIA WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page I of 18 Initials:.//'~,'Z/(_ FORM 3051 1101 SWY01 Rev 08/13/01 718 Lender's address is P, O. BOX 5137, DES MOINES, IA 50306-5137 Lender is the mortgagee under lhis Security Instrument. {D) "Note" means the promissory note signed by Borrower and dated OCTOBER 7, 2003 The Nole slates lhat Borrowe. r owes Lender FIFTY-THREE THOUSAND TWO HUNDRED AND NO/100 '. ' Dollars (U.S. $ .... .5..3.,:~.0..~,.0..0. ............... ) plus interest. Borrower has promised to pay. this debt in regular Periodic Paymenls and to pay the debt in full not later than NOVEMBER 1, 2033 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Nole, plus interest, any prepaymenl charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower (check box as applicable]: ~-~ Adjustable Rate Rider ~ Condominium Rider [---]Second Home Rider [~ Balloon Rider r'--] Planned Unit Development Rider ~ 1-4 Family Rider r--] VA Rider r-'] Biweekly Payment Rider ~ Other(s) (specify] (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (lhat have the effect o(law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or lhe Property by a condominium associalion, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, olher than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, 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 limiled to, point-of-sale Iransfers, automated teller machine transactions, transfers initiated 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, seltlement, award of damages, or proceeds paid by any third party (olher than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruclion of, the Property; (ii) condemnation or other taking of all or any part ol" the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, lhe value and/or condition Of the Property, (M) ,Mortgage Insurance" means insurance prolecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interesl 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 SWY02 Rev 12/18/00 Page 2 of 18 FORM 3051 1101 Initials: governs the same subject matter. As used in this Security Instrument, "RESPA" rel,ers to all requiremenls and restrictions that are imposed in regard to a "federally related mortgage loan" even if lhe Loan does not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrower" means any pady that has taken litle to lhe Properly, whether or not that party has assumed Borrower's obligations under the Note 'and/or lhis Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, exlensions and modil,ications of the Note; and (ii) the performance of Borrower's convenants and agreements under this Security Instrument and lhe Note. For lhis purpose, Borrower does hereby mortgage, grant and convey 1o Lender and Lender's successors and assigns, wilh power of sale, the following described properly located in lhe County ol, LINCOLN : [Type ol~ Recording Jurisdiction] [Name of Recording Jurisdiction] LEGAL DESCRIPTION IS A'I-rACHED HERETO AS SCHEDULE "A" AND MADE A PART HEREOF. THIS IS A PURCHASE MONEY MORTGAGE. Parcel ID Number: which currently has the address of 901 CEDAR AVENUE [Street] KEMMERER [City], Wyoming 83101 [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on lhe property, and all easemenls, appurtenances, and fixtures now or herearler, a part of the property. All replacements and additions shall also be covered by lhis Security Inslrumenl. All of the foregoing is referred to in Ibis Security Instrument as the "Property." BORROWER COVENANTS lhal Borrower is lawfully seised ol' lhe estate hereby conveyed and has the right to mortgage, grant and convey the Property and that lhe Property is unencumbered, except for encumbrances ol, record. Borrower warrants and will defend generally the title to the Property .against all claims and demands, sub]ecl to any encumbrances of record. THiS SECURITY INSTRUMENT combines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real properly. SWY03 Rev 11/06/00 Page 3 of 18 Inilials:..)[j[~.j~ FORM 3051 1101 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds [or 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 Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more off lhe following rorms, 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 upon an inslitution whose deposits are insured by a [federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring lhe Loan current, wilhout waiver off any rights hereunder or prejudice to its rights Io refuse such payment or partial payments in the future, but Lender is nol obligated to apply such payments at the time such payments are accepted. Ii" each Periodic Payment is applied as off its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied [funds until Borrower makes 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 outstanding principal balance under the Note immediately prior to [foreclosure. No o[f[fset or claim which Borrower might have now or in the [future against Lender shall relieve Borrower from making payments due under 1he Nole and Ibis Security Instrument or per[forming the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in Ihe following order priority: (a) interesl due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of 1he Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. Iff more than one Periodic Payment is outstanding, Lender may apply any payment received [from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the [full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. SWY04 Rev 11/06/00 Page 4 of 18 Inilials:.j~'_~j!/~[/{ FORM 3051 1101 Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under lhe Nole shall nol extend or postpone lhe due date, or change the amount, oflhe Periodic Payments. 3. Funds for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments are due under the Note, unlil the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessmenls and other items which can attain priorily over this Security Instrumenl as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on lhe Property, ir any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of lhe payment of Mortgage Insurance premiums in accordance with the provisions of Seclion 10. These items are called "Escrow Items." At Origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, lees and assessments shall be an Escrow Item. Borrower shall promptly furnish Io Lender all notices of amounts to be paid under this Seclion. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay lhe Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, lhe amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipls evidencing such payment within such time period as Lender may require. Borrower's obligation to make such paymenls and to provide receipts shall for all purposes be deemed to be a covenanl and agreement contained in this Security Instrumenl, as lhe phrase "covenant and agreem'enU is used in Section 9. If Borrower is obligaled Io pay Escrow Ilems directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Ilem, Lender may exercise its righls under Section 9 and pay such amount and Borrower shall then be.obligaled under Section 9 to repay to Lender any such amounl. Lender may revoke the waiver as Io any or all Escrow Ilems at any time by a notice given in accordance with Section 15 and, upon such revocalion, Borrower shall pay Io Lender all Funds, and in such amounts, that are then required under this Seclion 3. . Lender may, al 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 Io exceed the maximum amounl a lender can require under RESPA. Lender shall eslimate the amount of Funds due on the basis of current data and reasonable eslimales of expendilures of tulure Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institulion whose deposits are insured by a federal agency, instrumentality, or enlily (in. cluding Lender, if Lender is an inslilulion whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply lhe Funds to pay the Escrow Items no later than lhe time specified under RESPA. Lender shall nol charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying lhe Escrow Items, unless Lender pays Borrower interesl on lhe Funds and Applicable Law permits Lender to make such a charge. Unless an agreemenl is made in writing or Applicable Law requires interest to be paid on the Funds, Lender sl~all not be SWY05 Rev 11106/00 Page 5 olr 18 n t als ~.z,'~ FORM 3051 1/01 required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, withoul charge, an annual accounling 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 lhe amount necessary lo 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 holily Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, bul in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to BorroWer any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security InStrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, 'Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay lhem in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Inslrument unless Borrower: (a) agrees in writing to the payment of lhe obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends againsl enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevenl the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien: Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time.charge for a real estate.tax verification and/or reporting service used by Lender in connection wilh this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but nol limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. Whal Lender requires pursuant to the preceding senlences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right Io disapprove Bori'ower's choice, which right shall not be exercised unreasonably. Lender may require. Borrower to pay, in conneclion with this Loan, either: (a) a one-time charge for flood zone determination, certificalion and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination ?23 or cerlification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Managemenl Agency in conneclion with the review of any rlood zone determination resulting l.rom an objection by Borrower. I[ Borrower fails to mainlain any or the coverages described above, Lender may obtain insurance coverage, al Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might nol protect Borrower, Borrower's equily in the Properly, or the contents of 1he Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in el.fect. Borrower acknowledges Ihat the cost of lhe insurance coverage so obtained might significantly exceed' the cost ol. insurance that Borrower.could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date or disbursement and shall be payable, with such inleresl, upon notice l.rom Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an addilional loss payee. Lender shall have the right to hold the policies and renewal cerlificates. Il. Lender requires, Borrower shall promplly give to Lender all receipts ol. paid premiums and renewal notices. If Borrower obtains any l.orm of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a slandard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event ol. loss, Borrower shall give prompt nolice lo the insurance carrier and Lender. Lender may make proof of loss il' not made promptly by Borrower. Unless Lender and Borrower otherwise agree in wriling, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Properly, il' the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have lhe right to hold such insurance proceeds until Lender has had an opportunity to inspect such Properly Io ensure the work has been completed to Lender's satisl'action, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series ol' progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interesl to be paid on such insurance proceeds, Lender shall nol be required lo pay Borrower any inlerest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation ol' Borrower. If the resloralion or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Inslrumenl, whelher or not then due, wilh the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided l'or in Section 2. If Borrower abandons the Properly, Lender may file, negotiate and setlle any available insurance claim and related mailers. Il' Borrower does nol respond wilhin 30 days to a notice from Lender lhat the insurance carrier has ol'l'ered to settle a claim, then Lender may negoliate and settle the claim. The 30-day period will begin when the notice is given. In FORM :3051 1101 724 either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any olher of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Properly or to pay amounts unpaid under the Note or this Securily Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days aCter the execution of this Security Instrument and shall continue to occupy Ihe Property as Borrower's principal residence for al least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commil waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only 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 sufficienl 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 may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice al the time of or prior Io such an interior inspeclion specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the 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 and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or SWY08 Rev 10/25/00 Page 8 of 18 Inilialsj[/~/~J~ FORM 3051 1101 725 (c) Borrower has abandoned the Properly, ihen Lender may do and pay for whalever is reasonable or appropriate lo prolecl Lender's interest in lhe Properly and rights under Ibis Securily Instrumenl, including protecting and/or assessing the value of the Properly, and securing and/or repairing the Properly. Lender's aclions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security lnslrument; (b) appearing in coud; and (c) paying reasonable altorneys' fees 1o protect its inlerest in lhe Properly and/or righl~s under this Security Instrument, including ils secured posilion, in a bankruptcy proceeding. Securing the Property includes, bul is not limiled lo, entering the Properly to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take aclion under lhis Section 9, Lender does nol have to do so and is not under any duty or obligation lo do so. I1 is agreed thal Lender incurs no liability for not taking any or all actions aulhorized under this Section 9. Any amounls disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at lhe Note rate from the date of disbursemenl and shall be payable, with such interest, upon notice from Lender to Borrower requesling paymenl. Irthis Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease..If Borrower acquires fee title to lhe Property, the leasehold and lhe fee title shall not merge unless Lender agrees to the merger in wriling. 10, Morlgage Insurance, If Lender required Mortgage Insurance as a condilion of making the Loan, Borrower shall pay lhe premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Morlgage Insurance coverage required by Lender ceases to be available from the mortgage insurer thal previously provided such insurance and Borrower was required to make separalely designaled payments toward the premiums [or Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalenl ~1o the Mortgage Insurance previously in effect, at a cost subslantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate morlgage insurer 'selected by Lender.' If substantially equivalent Morlgage Insurance coverage is nol available, Borrower shall conlinue to pay 1o Lender the amount of the separately designated payments thal were due when the insurance coverage ceased 1o be in effect. Lender will accepl, use and retain these payments as a non-refundable loss reserve in lieu or Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the racl that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interesl or earnings on such loss reserve. Lender can no longer require loss reserve payments if Morlgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designaled payments loward lhe premiums for Morlgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required Io make separalely designated payments toward the premiums for Morlgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until lerminalion is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in lhe Note. SWY09 Rev 11/13/00 Paga 9 of 18 Inilials:.. . FORM 3051 1/01 72G Mortgage Insurance reimburses Lender (or any entity that purchases the Nole) for certain losses it may incur if Borrower does not repay the Loan as agreed: Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter inlo agreements wilh other parties that share or modify lheir risk, or reduce losses. These agreements are on terms and conditions lhat are satisfaclory to lhe mortgage insurer and the olher party (or parties) to lhese agreements. These agreements may require the mortgage insurer to make payments using any source of funds that lhe mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiu~ms). · As a result of these agreements, Lender, any purchaser of the Note, anolher insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, Or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed ~"caplive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to 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 termination. 11. Assignment of Miscellaneous 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 lhe Property, if the restoration or repair is economically feasible and Lender's security is nol 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 Property to ensure the work has been completed to Lender's satisfaclion, provided that such inspection shall be undertaken promptly. Lender may pay [or the repairs and restoration in a single disbursement 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 sums 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 [or in Seclion 2. SWY10 Rev ~0/25/00 Page ~0 of 18 initials:./~.,1_,~ FORM 3051 1101 727 In lhe event of a total taking, destruction, or loss in value of the .Property, lhe Miscellaneous Proceeds shall be applied Io the sums secured by this Security Instrument, whether or nol then due, with the excess if any, paid Io Borrower. In lhe event of a pallia laking, destruction, or loss 'In value of the Property in which the fair market value oi' the Property immediately before the partial taking, destruclion, or loss in value is equal to or greater than the amount of the sums secured by this Securily Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the tolal amounl of the sums secured immedialely before the partial taking, destruction, or loss in value divided by (b) the lair market value of the Property immediately before the partial taking, destruclion, or loss in value. Any balance shall be paid to Borrower. In the event or a partial taking, destruction, or loss in value of the Property in which the fair markel value of the Property immedialely before the partial taking, destruction, or loss in value is less than the amount of the 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 damages, 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 Io the sums secured by this Security Instrument, whether or nol then due. "Opposing Party" means the third party that owes Borrower- Miscellaneous Proceeds or the party against whom Borrower has a righl of action in regard lo Miscellaneous Proceeds. Borrower shall be in default il' any action or proceeding, whether civil or criminal, is begun thal, in Lender's judgment, could result in forfeiture o1' the Property or other material impairment of Lender's interest in. the Property or rights under this Security Instrument. Borrower can cure such a defaull and, if acceleration has occurred, reinslate as provided in Section 19, by causing the aclion or proceeding to be dismissed 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 righls under this Security Instrument. The proceeds of any award or claim for damages that .are attributable to the impairmenl of Lender's interest in lhe Property are hereby assigned and shall be paid to Lender. All Miscellaneous' Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modificalion of amortization or the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interesl of Borrower shall not operate to release the liabilily of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for paymenl or otherwise modify amortization of the sums secured by SWY11 Rev 11/06/00 Page 11 o1' 18 Inilials: , FORM 3051 1/01 this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver Of or preclude lhe exercise o[ any righl or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Properly under lhe terms ot'lhis Security Instrument; (b) is not personally obligated to Pay the sums secured by lhis Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provision of Section '18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees lo such release in writing. The covenanls and agreements of lhis Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borr°wer's default, for the purpose of protecting Lender's inlerest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees, In regard to any other fees, lhe absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees lhat are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limil; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by ~educing the Principal owed under the ~ole or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment wilhout any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance oi' any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly FORM 3051 1101 ?29 requires otherwise. The notice address shall be the Properly Address unless Borrower has designated a substitule notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designaled nolice address under lhis Securily Instrument at any one time. Any notice lo Lender shall be given by delivering il or by mailing it by firsl class mail Io Lender's address stated herein unless Lender has designated another address by notice Io Borrower. Any nolice in connection with this Security Inslrument shall not be deemed to have been given 1o Lender until aclually received by Lender. If any notice required by ibis SecUrity Instrument is also required under Applicable Law, the Applicable Law requirement will satisry the corresponding requirement under this Security Instrumenl. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations'contained in this Security Instrument are subject to any requirements and limitations 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 nol be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Securily Instrument or the Nole conflicts with Applicable Law, such conflict Shall not affect other provisions of this Security Instrumenl or the Note which can be given effect wilhout the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) lhe word "may" gives sole discretion without any obligation lo take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and ol'this Security Instrument. 18. Transfer o! Ihe Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interesls transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of litle by Borrower at a t'uture 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 sums secured by this Security Instrument. However, lhis 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 oi' acceleration. The notice shall provide a period of nol 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 1o the expiration o[ this period, Lender may invoke any remedies permitted by Ibis Security Instrument without further notice or demand on Borrower. SWY13 Rev 11/06/00 Page 13 of 18 Initials~J~!/J~Jt. FORM 3051 1101 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale ol~ the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judg.menl enl~orcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Securily Inslrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrumenl, including, but not limited to, reasonable attorneys' fees, property inspection 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 Properly and rights under this Security Instrumenl, and Borrower's obligation lo pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more ol~ the following forms, 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 upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, lhis Security Inslrument and obligations secured hereby shall remain t~ully effeclive as il~ no acceleration had occurred. However, 'this right to reinslate 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 the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the 'entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and lhis Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of lhe 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, the address to which payments should be made and any other int~ormation RESPA requires in connection with a notice of transfer or servicing. If the Note is s(ald and thereafter the Loan is serviced by a Loan Servicer olher than the purchaser of the Note, the mortgage loan 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 commence, 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 .this Security Instrument or that alleges that the other party has breached any provision o[, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the 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 can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. FORM 3051 1/01 The notice of acceleration and oppOrtunity to cure given to Borrower pursuanl 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 correclive 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 Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws or the jurisdiction where the Property is loCated that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environment Cleanup. Borrower shall not cause or permit the presence, use, disposal; storage, or 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 afl'ecting 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 oi' Hazardous Substances that 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 promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or privale party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledgel (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release or any Hazardous Substance, and (c) any condition caused by the presence, use or release of a~Hazardous Substance which adversely af[ecls the Value of the Property. I[ Borrower learns, or is notified by any governmental 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 Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the delault; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cUred; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any Other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment SWY15 Rev 10/25/00 Page 15 of 18 Inilials:._. FORM 3051 1101 732 In full of all sums secured by this Security Instrument without fu'rlher demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Properly, 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, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or ifs designee may purchase the Properly at any sale. The proceeds of the sale Shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing lhis Security Instrument, but only if the fee is paid to a third party i~or 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 ol~ Wyoming. 733 BY SIGNING BELOWi BorroWer accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with il. Witnesses: SWY17 Rev 12/27/00 Page 17 of 18 Inilials: !~!v, }~ FORM 3051 1101 ?3 4 STATE OF WYOMING, LINCOLN County ss: The foregoing instrument was acknowledged before me this OCTOBER 7, 2003 MICHELLE L. MAZUR by C0U,TYOF ~ STAT~O~ LINCOLN ~ WYOMING My Commission Expires: Notary Public SWY18 Rev 10/25/00 Page 18 of 18 Initials: ~, FORM 3051 1101 735 5/1 ADJUSTABLE RATE RIDER (1 Year LIBOR Index - Rate Caps) (Assumable after Initial Period) 0132389412 THIS ADJUSTABLE RATE RIDER is made this .?.t.h...a..a.y..o.!..O...C..'r..O..B.~..R.,.J.0..0..~. .................. , and is incorporated into and shy be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instruments) of the same date given by the undersigned (the "Borrower~) to secure the Borrower's Adjustable Rate Note (the "Notex) to ..W...[.kk..S.. ?...A..R. 9...0...H...O..~..[..~..9..R..T..G..~.q.~.,. !.N...C... ................................................................................. (the "Lender~) of the same date and covering the property described in the Security Instrument and located at: · .s.9.!...c..~..q.4..ff..a.~.u...u..~.,.~D.~..~,~,....w~....~.a..1.9.! ................................................................................................. (Property Address) THE NOTE CONTAINS PROVISIONS ALI. OWING FOR CHANGES IN THE INTEREST RATE AND 'HIE MONIltLY I'AYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND TIlE MAXIMUM RATE THE 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 tbllows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ...~,.3.1.~.... %. The Note provides for changes in the interest rate and the monthly payments as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial interest rate I will pay may change on the first day of ..N..O.X.fi..~...B.~.R.,..2..0.0.§ ..... , and may change on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the one-year LondOn Interbank Offered Rate ("LIBOR~) which is the average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market, as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Ilolder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. MULTISTATE FIXED/ADJUSTABLE RATE RIDER - t YEAR LIBOR INDEX Single Family - Fannie Mae Uniform Instrument ECO92L Rev. 01115/02 (page f of 4 pages) (C) Calculation of Changes 0132389412 'Betbre each Change Date, the Note llolder will calculate my new interest rate by adding .~..w...~...a..n..d....~..n..e.:.q.u..a...~..e..r.p..e.r..c..e..n..t.a.g.e..p.~i.nts{.....2...2..5.9.%~. ................................... to the Current Index. The Note Ilolder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note lIolder will then determine the amount of the monthly 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 substanti',dly equal payments. The result of this calculation will be ,the new amount of my monthly payment. (D) Limits on Interest Rate Changes '['he interest rate I am required to pay at the first Change Date will not be greater than .... .1.9:.3,.7..5. ......... % or less than ...... .2....2..5.0. ...... %. ]'hereafter. my interest rate will never be increased or decreased on any smgle Change Date by more than ..t..w..o...p..e..r.c..e..n..t.a.g..e..p..o.!.n..t.s..[....2....0..0.,0.."~J ........................................................................ from the rate of interest I have been paying tbr the preceding 12 months. My interest rate will never be greater than .... .1..o.. ~.Ls. ..... %. (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 tirst 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 interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B, TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. UNTIL BORROWER'S INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED IN SECTION A ABOVE, UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT SHALL BE IN EFFECT AS FOLLOWS: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means 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, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower 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 benefici',fl interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. I lowever, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. MULTISTATE FIXED/ADJUSTABLE RATE RIDER - 1 YEAR LIBOR INDEX Single Family - Fannie Mae Uniform Inslrumenl ECO92L Rev. 01/15/O2 (page 2 of 4 pages) 0132369412 If Lender exercises the 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 this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 2. AlrI'ER BORROWER'S INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED IN SECTION A ABOVE, UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION BI ABOVE SHALL THEN CEASE TO BE IN EFFECT, AND THE PROVISIONS OF UNIFORM COVENANT 18 OF 'FILE SECURITY INSTRUMENT SHALL BE AMENDED TO READ AS FOLLOWS: Transfer of the Property or a Beneficial Interest in Borrower. As used in tlfis Section 18, "Interest in the Property" means any legal or beneficial interest in the property, including, but not limited to, those beneticial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future t date to a purchaser. If all or any part of the Property or any lnterest 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 sums secured by this Security Instrument. However, this option shall not be exercised by I.ender 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 Apphcable Law, Lender may charge a reasonable'fee as a condition to Lender's consent to the loan assumption. Lender may also require lhe transferee to sign an assumption agreement that is acceptable to I_,ender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will contmue to be obligated under the Note and this Security Instrument 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 Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may .invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. MULTISIATE FIXED/ADJUSTABLE RATE RIDER - 1 YEAR LIBOR INDEX Single Family - Fannie Mae Uniform Instrumen{ EC092L Rev. 01/15/02 (page 3 of 4 pages) 738 0132389412 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. (Seal) -Borrower MULTISTATE FIXED/ADJUSTABLE RATE RIDER - t YEAR LIBOR INDEX Single Family - Fannie Mae Uniform Instrument EC092L Rev. 01/15/02 (page 4 of 4 pages) Schedule A The Southerly thirty-eight and one-half feet of the Lot Numbered Twelve (12) of the Block Numbered One (1) of the Original Townsite of Kemmerer, Lincoln County, Wyoming, as surveyed, platted and recorded, and more particularly described by metes and bounds as follows: Commencing at the Southeasterly corner of said Lot 12 of Block 1, and running thence Nodherly along the Easterly boundary of said Lot a distance of 38 feet 6 inches; thence at right angles and running Westerly a distance of 140 feet, to the Westerly boundary of said Lot 12; thence Southerly along said Westerly boundary a distance of 38 feet 6 inches; thence Easterly along the Southerly boundary of said Lot a distance of 140 feet, to the point of beginning; being a rectangular parcel of ground fronting 38 feet 6 inches on Cedar Avenue and 140 feet on Garnet Street