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HomeMy WebLinkAbout895491Return To: WELLS FARGO HOME MORTGAGE, FINAL DOCUMENTS X4701-O22 3601 MINNESOTA DRIVE BLOOMINGTON, MN 55435-5284 Prepared Ely: JESSICA L. THOMAS WELLS FARGO HOME MORTGAGE, INc. P.O. BOX t629 MINNEAPOLIS, MN 55440-1629 RECEIVED,_ LINCOUN GOUNTY CLERK [Space Above This Line For Recording Data] MORTGAGE 0132964164 DEFINITIONS Words used in mulliple seclions of this document are defined below and olher words are defined in Sections 3, '11, 13, 18, 20 and 21. Cerlain 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 NOVEMBER 24, 2003 together with all Riders to this documenl. (B) "Borrower" is DENNIS AND SUE ANN BoGUE REVOCABLE TRUST, DATED APRIL 17', 2003 Borrower is lhe morlgagor under this Securily Inslrument. (C) "Lender" is WELLS FARGO HOME MORTGAGE, INC. Lender is a Corporation organized and exisling under the lawsof THE STATE OF CALIFORNIA WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 1 of 18 Initials~-~// FORM 3051 1/01 SWY01 Rev 08/13/0! Lender's address is P. O. BOX 5137, DES MOINES, IA 50306-5137 Lender is the mortgagee under this Security Instrument. (D) "Note "means the prO~ ~OI~Y note signed by Borrower and dated NOVEMBER 24, 2003 . The Note states that BorroWer owes Lender TWO HUNDRED THOUSAND AND NO/lO0 Dollars (U.S. $ ....2.0..0.,.0..0..0.,.0..0. ..... i ........ ) plus interest. Borrower has promised to pay this debt in regular Periodic Paymenls and to pay the debt in full not later than DECEMBER !, 2033 (E) "Property" means the property that is desCribed below under the heading "Transfer Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interesl. (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 ~ VA Rider r'~ Biweekly Payment Rider ['--'J Other(s) [specify] (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect or' law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, tees,. assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction 'originated by check, draft, or similar paper instrument, which is initiated lhrough an eleclronic terminal, telephonic inslrument, compuler, or magnetic tape so as to order, instruct, or authorize a !"inancial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale Iransfers, automated teller machine Iransactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those ilems that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damagesl or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Seclion 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 iR lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/o~' cor~dition of the Pi'operty. (M)"Mortgage Insurance" means insurance prolecting Lender against the nonpayment 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 lhis SecuritY Ins!rument~ ~ (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementim~g regulation, Regulation X (24 C.F.R. Part 3500), as they migh| be amended from time'to time, or any additional or successor legislation or regulalion thal SWY02 Rev 12/lB/00 Page 2 of 18 trial FORM 3051 1/01 goverr~s lhe same subject mailer. As used in Ihis Security Inslrumenl, "RESPA" refers 1o all requirements and restrictions thai are imposed in regard 1o a "federally related mortgage loan" even if the Loan does nol qualify as a "federally related mortgage loan" under RESPA. (P) "Successor In Inleresl o! BorrOwer'' means any parly lhat has laken title to lhe Properly, whether or not ~at party has assumed Borrower's obligalions under the Note and/or this Security Inslrumenl. TRANSFER OF RIGHTS IN THE PROPERTY This Security instrument secures to Lender: (i) the repayment of the Loan, and all renewals, exlensions and modifications or the Nole; and (ii) lhe performance of Borrower's convenants and agreemenls under this Security Instrumenl and lhe Note. For this purpose, Borrower does herebY' mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, 'lhe following described property located in lhe CountY or LINCOLN : [Type of Recording Jurisdiction] [Name or Reco'rding Jurisdiction] LEGAL DESCRIPTION IS ATI'ACHED HERETO AS SCHEDULE "A" AND MADE A PART HEREOF. THIS IS A PURCHASE MONEY MORTGAGE. Parcel ID Number: which currently has lhe address of 488 WALNUT DRIVE [Streel] THAYNE [City], Wyoming 83127 [Zip Code] ("prOperly Address"): TOGETHER WITH all the improvements now or hereafler erected on the properly, and all easemenls, appurtenances, and fixtures now or hereafler a parl or the properly. All replacements and addilions shall also be covered by this Securily Instrumenl. All of the foregoing is referred 1o in Ibis Securily Instrumenl as lhe "Properly." BORROWER COVENANTS lha! Borrower is lawfully seised of the eslate hereby conveyed and has lhe righl to morlgage, grant and convey lhe Properly and lhat lhe Properly is unencumbered, exc,ept for encumbrances of record. Borrower warranls and will defend generally lhe lille to the Property against all claims and demands, sub]ecl 1o any encumbrances or record. THIS SECURITY INSTRUMENT combines uniform covenants [or national use and non- uniform covenanls with limited variations by jurisdiction to constilute a uniform security inslrumenl covering real properly. SWY03 Rev 11/06/00 Page 3o1' t8 illals FORM 3051 1/01 293 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 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 Security Inslrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and th:is Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) cerlified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an instilution whose deposits are insured by a federal agency, instrumen!ality, 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 1he notice provisions in Section 15. Lender may return any payment or partial payment if the payment or parlial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of ils scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds unlil Borrower makes payment to bring 1he 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 offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or Performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Sect on all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Paymenl 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 o1: lhe Nole. If Lender receives a payment from Borrower for a delinquent Periodic payment which includes a sufficient amount to pay any late charge due, the paymenl may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is oulslanding, Lender may apply any payment receiVed from Borrower to the repaymenl of lhe Period c Payments if, and Io the 'extent that, each payment can be paid il~ tull. To the extent that ,any excess eXists after lhe payment is applied lo the full payment o1" one or more period c Payments such excess may be applied Io any lale charges due. Voluntary prepayments shall be applied fii-st to any prepayment charges and then as described in the Note, SWY04 Rev ! 1/06/00 FORM 3051 1/01 An~ application or payments, insurance proceeds, or Miscellaneous Proceeds lo principal due under the Note Shall not extend or postPone the due date, or change the amount, or the Periodic Payments. 3. Funds for Escrow Items. Borrower shal pay to Lender on the day Periodlc Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide i'or payment or amounls due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold paymenls or ground rents on the Property, if 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 the payment or Mortgage Insurance premiums in accordance with lhe provisions of Seclion 10. These items are called "Escrow Ilems." At origination or al any time during the term of lhe. Loan, Lender may require that Community Associalion Dues, Fees, and Assessments, if any, be escrowed by Borr.ower, and such dues, fees and assessmenls shall be an Escrow Item. Borrower shall promplly furnish to Lender all notices of amounts lo be paid under lhis Seclion. Borrower shall pay Lender lhe Funds for Escrow Items unless Lender waives Borrower's obligation Io pay lhe Funds for any or all Escrow Ilems. Lender may waive Borrower's obligalion to pay to Lender Funds for any or all Escrow Items al any lime. Any such waiver may only be in writing. In lhe evenl of such waiver, Borrower shall pay direclty, when and where payable, the amounls due for any Escrow Ilems for which paymenl of Funds has been waived by Lender and, if Lender requires, shall furnish 1o Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligalion to make such payments and to provide receipts shall for all purposes be deemed lo be a covenanl and agreement contained in this Securily Inslrumenl, as lhe phrase "covenanl and agreemenl" is used in Section 9. If Borrower is obligated lo pay Escrow Ilems directly, pursuant to a waiver, and Borrower fails to pay Ihe amounl due for an Escrow Item, Lender may exercise its righls under Seclion 9 and pay such amount and Borrower shall lhen be obligated under Section 9 to repay lo Lender any such amounl. Lender may revoke lhe waiver as Io any or all Escrow Ilems al any time by a nolice given in accordance wilh Section t5 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounls, that are then required under lhis Section 3. Lender may, at any time, collecl and hold Funds in an amounl (a) surficienl 1o permil Lender 1o apply the Funds al the lime specified under RESPA, and (b) not to exceed lhe maximum amounl a lender can require under RESPA. Lender shall estimale the amounl of Funds due on the basis of current dala and reasonable eslimales of expendilures of future 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 (including Lender, if Lender is an inslilution whose deposils are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds 1o pay Ihe Escrow Ilems no laler lhan lhe lime specil'ied under RESPA. Lender shall not charge Borrower rot holding and applying the Funds, annually analyzing lhe escrow account, or verifying the Escrow Ilems, unless Lender pays Borrower inleresl on the Funds and Applicable Law permits Lender 1o make such a charge. Unless an agreemenl is made' in writing or Applicable Law requires interest 1o be paid on the Funds, Lender shall not be SWYO5 Rev 11/06/00 Page 5 o[ 18 Inilials: FORM 3051 1101 required lo pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on lhe Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. I[ there is a surplus olr Funds held in escrow, as defined under RESPA, Lender shall accounl to Borrower for the excess funds in accordance with RESPA. If there is a shortage or Funds held in escrow, as de[ined 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 Borrower shall pay to Lender the amount necessary 1o make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon paylnent in I~ull 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 atlain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, i¢ any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower: shall promplly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to lhe payment of the obligation secured by the lien in a manner ac~ceptable to Lender, but only so long as Borrower is performing such agreement; (b) contesls the lien in good faith by, or del"ends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings 'are concluded; or (c) secures from the holder ol~ the lien an agreement salisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pad of the Properly is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice idenlifying 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 forlh 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 with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured againsl loss by fire, hazards included within the term "extended coverage," and any other hazards including, bul not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and [or the periods that Lender requires. What Lender requires pursuant t.o lhe preceding sentences can change during the term of the Loan. The insurance carrier providing !he insurance shall be chosen by Borrower subjecl Io Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require BorroWer to pay, iP connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings (~r similar ~:hanges occur which reasonably might affect such determination SWY06 Ray 10/25/00 Page FORM 3051 1101 54;? ' or Cerlificalion. Borrower shall also be responsible for lhe payment of any fees imposed by lhe F~deral ~:mergency Management Agency in connection with the review Of any flood zone determination resUlting from an objection by Borrower. If Borrower fails to maintain anY of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to Purchase any parlicular lype Or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in lhe Properly, or the conlenls of the Property, against any risk, hazard or liability and might provde greater or lesser coverage than was previously in effecl. Borrower acknowledges thai the cost or the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have oblained. Any amounts disbursed by Lender under Ibis Section 5 shall become additional debt of Borrower .secured by this Securily Instrument. These amounts shall bear interest at the Note rale from the dale of disbursemeni and shall be payable, with such interesl, upon notice from Lender Io 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 slandard morlgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal cerlificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal nolices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage lo, or destruction of, the Properly, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompl notice to lhe insurance carrier and Lender. Lender may make pi-oof of loss if nol made promplly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such rePair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an oppodunity 1o inspecl such Properly to ensure the work has been completed to Lender's salisfaction, provided that such inspection' shall be undertaken promplly. Lender may. disburse proceeds for the repairs and restoration in a single paymenl or in a series of progress paymenls as lhe work is completed. Unless an agreement is made in writing or Applicable Law requires interesl 1o be paid on such insurance proceeds, Lender shall not be required to pay Borrower any inleresl or earnings on such proceeds. Fees for public adjusters, or other third parlies,. relained by Borrower shall not be paid out of lhe insurance proceeds and shall be the sole obligalion of Borrower. If the restoration or repair is not economically feasible or Lender's securily, would be lessened, the insurance proceeds shall be applied to lhe sums secured by lhis Security Instrument, whelher or nol then due, with the excess, ir any, paid 1o Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons lhe Property, Lender may file, negotiate and sellle any available insurance claim and related mailers. If Borrower does nol respond within 30 days 1o a nolice from Lender thai the insurance carrier has offered to setlle a claim, then Lender may negoliale and settle lhe claim. The 30-day period will begin when the nolice is given. In SWYO? Rev 10125/00 Page 7 of 18 ilial FORM 3051 1/01 ..... ' 542 297 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 other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable lo the coverage of the Property. Lender may use the insurance proceeds either lo repair or restore the Properly or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within fi0 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower Shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deterioraling 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 d.eterioration 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 or progress payments as the work is completed. If lhe 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 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 at the time 'of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements io Lender (or failed to provide Lender with material information) in connection with the Loan. Materia representations include, but are not limiled to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. protection of Lender's Interest in the propertl/and Righ~ Under this Security Instrument. I[ (a) Borrowe~- fails to Perform the'covenants and agreements contained in 1his Security Instrument. (b) there is a legal proceeding that might significantly affect Lender's interest in the Properly 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 regu ations), or SWY08 ReV 10/25/00 Page 8 of 18 ilial " FORM 3051 1/01 · 298 (c) I~orrower has abandoned the Properly, lhen tender may do and pay for whatever is reasonable Or appropriate to proteci Lender's interest in the ProPerly and rights under this SectJrity Instrument, including protecting and/or assessing the value of Ihe Properly, 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 i~riority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect ils inlerest in the Property and/or rights under this Security Instrument, including ils secured position in a bankruptcy proceeding. Securing ihe Property includes, but is not limited to, entering lhe Properly to make repairs, change locks, replace or board up doors and windows, drain waler from pipes, eliminate building or other code violations or dangerous conditions, and have utilities lurned on or off. AIIhough Lender may take action under this Seclion g, Lender does not have to do so and is nol under any duly or obligation to do so. I1 is agreed .thai Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounls disbursed by Lender under lhis Section § shall become additional debt of Borrower secured by this Security Instrument. These amounls Shall bear interest at lhe Note rate from Ihe date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Inslrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee lille to the Properly, the leasehold and the fee lille shall not merge unless Lender agrees to lhe merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the 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 that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substanlially equivalent to the Modgage Insurance previously in efrecl, al a cost subslanlially equivalenl lo lhe cost. lo Borrower of the Mortgage Insurance previously in effect, from an alternate morlgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designaled paymenis lhat were due when the insurance coverage ceased to be in effecl. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Morlgage Insurance. Such loss reserve shall be non-refundable, notwithstanding lhe fact that the Loan is ultimalely paid in full, and Lender shall nol be required to pay Borrower any inleres! or earnings on such loss reserve. Lender can no longer require loss reserve paymenls if Mortgage Insurance coverage (in the amount and for the period Ihat Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender 'required Mortgage Insurance as a condilion or making the Loan and Borrower was required to make separalely designated payments toward the premiums for Mortgage Insurance, Borrower shall pay lhe premiums required to maintain Morlgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Modgage Insurance ends in accordance wilh any written agreement between Borrower and Lender Providing for such terminalion or until termination is required by Applicable Law. Nothing in lhis Section 10 affects Borrower's obligation lo pay interest at lhe rate provided in the Note. SWY09 Rev 1~/12/00 Page 9 of II~ ("~ials~ FORM 3051 1/01 ?.99 the order provided ¢or in Section 2- SWYIO Rev 10/25/00 Page 10 o1' 18 Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur ii" Borrower does not repay the Loan as agreed. Borrower is not a parly to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modi~ their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreemenls may require the morlgage insurer to make payments using any source ol~ funds that the mortgage insurer may have available (which may include funds obtained from Morlgage Insurance premiums). As a result ol~these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate ot any ol~ the foregoing, may receive (directly- or indirectly) amounts that derive [rom (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 aft]liate of Lender takes a share or the insurer's risk in exchange I:or a share of the premiums paid to the insurer, the arrangement is oCten lermed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - il' 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 oi' the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a re!'und 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 ot the Properly, it the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an oppodunity to inspect such Property to ensure the work has been completed t© Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series ol~ progress payments as lhe 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' FORM 3051 1101 3OO Irt the event of a [otai laking, destruction, or loss in value of the ProPerly, lhe Miscellaneous Proceeds shall be applied to the sums secured by this Securily Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a padial taking, destruction, or loss In value or the Properly in Which the fair market value or the Properly immediately before the padial taking, destruction, or loss in value is bqual to or greater than the amount of the sums secured by this Security Inslrument immediately be[ore the partial taking, destruction, or loss in value, unless Borrower and Lender Otherwise agree in wriling, lhe sums secured by this Security Instrumenl shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) [he total amount or the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair markel value or the Property immediately before the parlial taking, destruclion, or loss in value. Any balance shall be paid to Borrower. In the event or a padial laking, deslruclion, or loss in value of lhe Properly in which lhe fair markel value or lhe Properly immediately before the partial laking, deslruclion, or loss in value is less than lhe amount of lhe sums secured immediately before the partial laking, destruction, or loss n value, unless Borrower and Lender otherwise agree in wriling, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrumenl whelher or nol lhe sums are then due. If the Properly is abandoned by Borrower. or if, after notice by Lender 1o Borrower that lhe Opposing Party (as defined in the next sentence) offers to make an award 1o settle a claim for damages, Borrower fails to respond 1o Lender within :30 days after lhe date Ihe nolice's given, Lender is authorized to collect and apply the Miscellaneous Proceeds either Io restoration or repair o[lhe Property or to the sums secured by this Security nstrumenz, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the pady against Whom Borrower has a right of action in regard 1o Miscellaneous Proceeds. Borrower shall be in default if any aclion or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture or the Properly or olher malerial impairmenl of Lender's interesl in lhe Property or rights under this Security Instrument. Borrower can cure such a deraull and, if acceleralion has occurred, reinslate as Provided in Seciion 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgmenl, precludes forfeilure of lhe Property or olher malerial impairment or Lender's inlerest in lhe Properly or rights under lhis Security Inslrumenl. The proceeds of any award or claim for damages lhal are allribulable to lhe impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied Io resioralion or repair oflhe Properly shall be applied in lhe order provided [or in Seclion 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time I'or paymen! or modification of amortization of the sums secured by this Security Instrumenl granted by Lender to Borrower or any Successor in Inlerest of Borrower shall not operate to release lhe liability of BorroWer or any Successors in Inlerest of Borrower. Lender shall not be required 1o commence proceedings againsl any Successor in Interest of Borrower or Io rel'use 1o extend time for payment or otherwise modify amorlization of lhe sums secured by SWYI1 Rev 11/06/00 Page 11 of 18 lial FORM 3051 1101 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 limitalion, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less lhan the amount then due, shall not be a waiver of or preclude the exercise of any right 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 lhis Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the lerms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard 1o 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 lhis Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Inslrument unless Lender agrees to such release in writing. The covenanls and agreements of this 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 Borrower's default, for the purpose of protecting Lender's interest 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, the 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. Ir 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 limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be rel'unded to Borrower. Lender may choose to make this refund by reduc ng the principal owed under the hole or by making a direct payment to Borrower. If a refund reduces principal, lhe reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). 'Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices· Al notices given by Borrower or Lender iq 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 lo Borrower when mailed by first Class mail or when actually de ivered~ to Borrower's notice address il' sent by other means. Notic9 to any one Borrower sba!I constitute notice to all Borrowers unless. Applicable Law express!y . ./ SWY12 Rev 11/06/00 Paga 12 o~' 16 3O2 requires otherwise. The notice address shall be the Property Address unless Borrower has designaied a Substitute notice address by notice to Lender. I~orrower shall )~romPtly notify Lendet' or Borrower's change of address. If Lender specifies a Procedure for repodlng Borrower's change of address, then Borrower shall Only report a change of address through thai specified procedure. There may be only one designated notice address IJnder this Securily Instrument at anY one time. Any notice 1o Lender shall be given by delivering it or by mailing it by first class mail to LendeFs address stated herein unless Lender has designated anolher address by notice to Borrower. Any notice' in connection with this Security Instrument. shall not be' deemed to have been given Io Lender unlil actually received by Lender. If any notice required by this Security Instrumeni is also required under Applicable Law, lhe Applicable Law requirement will satisfy the corresponding requirement under this Securily Instrumenl. 16. Governing Law; Severability; Rules of ConStruction. This Security Inslrument shall be governed by federal law and the law of the jurisdiction in which lhe Properly is located. All rights and obligalions conlained in this Security Inslrument are subject to any requirements and limltations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silenl, but such silence shall not be construed as a prohibition against agreement by conlract, in the event that any provision or clause of this Securily Inslrumenl or lhe Nole conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Inslrument or the NOle which can be given effect without lhe conflicting provision. As used in this Securily Instrumenl: (a) words o1' the masculine gender shall mean and include corresponding neuter words or words of lhe feminine gender; (bi words in the singular shall mean and include the plural and vice versa; and (c) lhe word "may" gives sole discrelion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note andofthis Security Inslrument. 18. Transfer of the Property ora Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Properly" means any legal or beneficial interest in the Property, including, but not limited to, lhose beneficial inlerests transferred in a bond for deed, contract for deed, inslallment sales contract or escrow agreement, the intenl or which is the transfer or title by Borrower al a future dale Io a purchaser. I[ all or any pall or the Properly or any Inleresl in the Property is sold or transferred (or if Borrower is not a nalural person and a beneficial inlerest in Borrower is sold or transferred) wilhout Lender's prior written consent, Lender may require immediale payment in full of all sums secured by Ihis Security Instrumenl. However, lhis option shall not be exercised by Lender ir 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 nol less than. 30 days from the date lhe .notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrumenl. If Borrower fails to Pay Ihese sums prior Io lhe expiration of this period, Lender may invoke any remedies permilted by lhis Security Inslrument without furlher nolice or demand on Borrower. 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 al any time prior to the earliest of: (a) five days before sale of 1he Property pursuant to any power of sale contained in lhis Securily Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry ora judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument 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 Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecling Lender's interest in lhe Property and rights under this Security Instrument; and (d)' takes such action as Lender 'may reasonably require t© assure that Lenderrs 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 Borrower pay such reinstatement sums and expenses in one or more or 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, inslrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in lhe case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a parlial 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 enlity (known as lhe "Loan Servicer") that collects Periodic Payments due under the Nole and this 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 or the Loan Servicer unrelated to a sale of the 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 lo which payments should be made and any olher information RESPA requires in connection with a notice of transfer or servicing. If the Note is said and thereafter 1he Loan is serviced by a Loan Servicer other 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 l~or Lender may commence, join, or be joined Io any judicial action (as either an indiv dual litigant or the member of a class) that arises [rom the other party's actions pursuant Io this Security Inslrument or that alleges that lhe other party has breached any provis on of, or any duly owed by reason of, Ih s Security Instrument, Until such Borrower or .Lender has notified the other party (with such notice given in compliance with lhe requirements of Section 15) of such alleged breach and afforded the Other Party hereto a reasonable period after the giving of such notice Io take correclive action. If Applicable Law p,rovides 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. SVVY14 Rev 12/27/00 Page i4 of 18 tia FORM 3051 1101 -. 30,I The notice of acceleration and oppodunity to cure given to Borrower pursuaht to Section 22 and the notice of acceleralion given to Borrower pursuant Io Section '18 shall be deemed 1o satisfy lhe notice and opportunity to take corrective action provisions of this Seciio~ 20. 2~. HazardOuS Substances. AS used in this Section 21: (a) "Hazardous Substances" are ihose substances defined as toxic or hazardous substances, pollutanls, or wastes by Environmental Law and the following Substances: gasoline, kerosene, ott{er flammable or toxic pelroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioaclive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where Ihe Properly is Iocaled that relate Io health, safety or environmental protection; (c) 'Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmenlal Law; and (d) an "Environmenlal Condition" means a condition thai can cause, conlribute to, or otherwise lrigger an Environment Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten 1o release any Hazardous Subslances, on or in the Properly. Borrower shall not do nor allow anyone else to do, anylhing affecting lhe Property (a) lhal is in violation of any Environmental Law, (b) which creales an Environmental Condilion, 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 lo the presence, use, or slorage on the Properly of small quantities or Hazardous Substances lhal are generally recognized lo be appropriate to normal residenlial uses and to mainlenance of Ihe Property (including, but not limiled to, hazardous substances, in consumer products). Borrower shall promptly give Lender wrilten nolice of (a) any investigation, claim, demand, lawsuit or other' action by any governmenlal or regulatory agency or private parly involving the Properly and any Hazardous Subslance or Environmental 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 or the Properly. Ir Borrower learns, or is notified by any governmental or regulatory aulhority, or any privale pady, lhat any removal or other remediation of any Hazardous Subslance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance wilh Environmental Law. Nothing herein shall creale any obligalion 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 default; (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 o! 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 SVv'YI5 Rev 10125100 Page f5 o1' lB al FORM 3051 1/01 In full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. I( Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to I~he 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, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) fo 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 this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. BorroWer releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. SWY16 Rev 10/25/00 Page 16 of 18 FORM 3051 1101 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider execuled by Borrower and recorded with it. Witnesses: ANN BOG [JE Borrower 'DENNIS R. BO~GUE y Borrower SVVY17 Rev 12/27/00 Page 17 o1' 18 - Ilniliels: FORM 3051 1/01 307 STATE OF WYOMING, LINCOLN County ss: The foregoing instrument was acknowledged before me this NOVEMBER 24, 200;3 DENNIS AND SUE ANN BOGUE REVOCABLE TRUST, DATED APRIL 17, 2003 by My Commission Expires: Notary Public SWY18 Rev 10/25100 Page lB or- 18 Initials: FORM 3051 1101 3O8 0132964164 To .the extent permitted by AppliCable Law, Lender may charge a reasonable fee as a condition to Lender's consen{ to the loan assumption. Lender may also require the transferee lo sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue 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 siva Borrower notice of acceleration. The notice shall provide a period of nol less than 30 days Irom 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. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. ~ /~ ¢~'--~ , (Seal) Sy/E ANN BOGUE // ~' -Borrower D~NRIg R: BO~UE y -Borrower MULTISIAIE FIXED/ADJUSTABLE RATE RIDER - 1 YEAR LIBOR IHDEX . Single Family- Fannie Mae Uniform lnslrumenl ECO57L Rev. 01/15/02 (page 3 of 3 pages) 3O9 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California '~ County of ~/O,C_'~..Y'" ~ ss. onn.ov., lo e 2.L)O3,befor me, C- 'OI -ohnsoh Name and Title oi Officer (e.g., "Jane Doe. Nota~ Pu~') personally appeared ~ ~h ~oq~ ~ ~ ~ I~ ~, ~q J~ ~ ~ ~ ~ ~ T~ ~+, ~+~ ~personally known to me ~proved to me on the basis of satisfactory to be the person(s) whose name(s) is~ subscribed to the within inst~ent an"h-'-d- acknowledged to me that he/,~they~xecuted the same in his/h e~their~2'uthorized capacity(les), and that ~ his/her~'0 signature(s) on the instrument the person(s)'7-ol¢ .~ ' CAJ~OL JOHNSON ~1 the entity upon behalf of which the person(s) ~-~'~ C°mmi~on # 124~ i. acted, executed the instrument. ~ k,.~ll/~] ~ Co~'to Courtly ~' WITNESS my hand and official seal. i -lz: 10 No,ary sas, ova of Nolary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and realtachment of this form Io another document. Description of Attached DocUme~y~O},.,r.iL(,.~ Title or Type of Document: ~ Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(les) Claimed by Signer Signer's Name: [] Individual [] Corporate Officer-- Title(s): [] Partner--[] Limited [] General [] Attorney in Fact [] Trustee [] Guardian or Conservator [] Other: Signer Is Representing: ~op of thumb here © 1997 National Notary Assoc at on · 9350 De Soto Ave. P.O. Box 2402 · Chatsworth, CA 91313-2402 Prod. No. 5907 Reorder: Call Toil-Free 1-800-876-6827 ,- ::.: ::.:i :'"":'"" ~ '" ~ .i!;:~2!;:;!i!:: ; 310 INTER VIVOS REVOCABLE TRUST RIDER DEFINITIONS USED IN THIS RIDER. (A) "Revocable Trust." The DENNIS AND SUE ANN BOGUE REVOC Trust created under trust instrument dated April 17, 2003 , for the benefit of DENNIS R. BOGUE SUE ANN W. BOGUE (B) "Revocable Trust Trustee(s).~ DENNIS R. BOGUE SUE ANN W. BOGUE trustee(s) of the Revocable Trust. (C) "Revocable Trust Settlor(s)." SUE ANN,BOGUE DENNIS R.,BOGUE settlor(s) of the Revocable Trust signing below. (D) "Lender." WELLS FARGO tIOME MORTGAGE, INC. (E) "Security Instrument." The Deed of Trusl, Mortgage or Security Deed and any riders thereto of the same dale as this Rider given to secure the Note to Lender of the same date made by the R~vocable Trust, the Revocable Trust Trustee(s) and the Revocable Trust Settlor(s) and any olher natural persons signing such Note and covering the Property (as defined below). (F) "Pro perry." The property described in the Security Instrument and located at: 488 WALNUT DRIVE TI IAYN E, WYOMING 83127-0000 Property Address THIS INTER VIVOS REVOCABLE TRUST RIDER is made this 24 daY of November,2003 , and is incorporated into and shall be deemed to amend and supplement the Security Instrument. ADDITIONAL COVENANTS. In addilion to the covenants and agreements made in the Security Instrument, the Revocable Trust Trustee(s), and the Revocable Trust Settlor(s) and the Lender further covenant and agree as follo~vs: A. INTER VIVOS REVOCABLE TRUST. 1. CERTIFICATION AND WARRANTIES OF REVOCABLE TRUST TRUSTEE(S). The Revocable Trust Trustee(s) certify to Lender that the Revocable Trust is an inter vivos revocable trust for which the Revocable Trust Trustee(s) are holding full title to the Property as trustee(s). MULTISTAT/ INTER VIVOS REVOCABLE TRUST RIDER Page I of 4 12/99 Inilial~ ECOO7L Rev 12/17/02 The Revocable Trust Trustee(s) warrants to Lender that (i) the Revocable Trust is validly created under the laws of the State of CALIFORNIA ; (ii) the trust instrument creating the Revocable Trust is in full force and effect and there are no amendments or other modifications to the trust instrument affecting the revocability of the Revocable Trust; (iii) the Property is located in the State of WYOMING ; (iv) the Revocable Trust Trustee(s) have full power and authority as trustee(s) under the trust instrument creating the Revocable Trust and under applicable law to execute the Security Instrument, including this Rider; (v) the Revocable Trust Trustee(s) have executed the Security instrument, including this Rider, on behalf of the Revocable Trust; (vi) the Revocable Trust Settlor(s) have executed the Security Instrument, including this Rider, acknowledging all of the terms and conditions contained therein and agreeing to be bound thereby; (vii) only the Revocable Trust Settlor(s) and the Revocable Trust Trustee(s) may hold any power of direction over the Revocable Trust; (viii) only the Revocable Trust Settlor(s) hold the power to direct the Trustee(s) in the management of the Property; (ix) only the Revocable Trust Settlor(s) hold the power of revocation over the Revocable Trust; and (x) the Revocable Trust Trustee(s) have not been notified of the existence or assertion of any lien, encumbrance or claim against any beneficial interest in, or transfer of all or any portion of any beneficial interest in or powers of direction over the Revocable Trust Trustee(s) or the Revocable Trust, as the case may be, or power of revocation over the Revocable Trust. 2. NOTICE OF CHANGES TO REVOCABLE TRUST AND TRANSFER OF POWERS OVER REVOCABLE TRUST TRUSTEE(S) OR REVOCABLE TRUST OR BOTII; NOTICE OF' CHANGE OF REVOCABLE TRUST TRUSTEE(S); NOTICE OF CHANGE OF OCCUPANCY OF THE PROPERTY; NOTICE OF TRANSFER OF BENEFICIAL INTEREST IN REVOCABLE TRUST. The Revocable Trust Trustee(s) shall provide timely notice to Lender promptly upon notice or knowledge of any revocation or termination of the Revocable Trust, or of any change in the holders of the powers of direction over the Revocable Trust Trustee(s) or the Revocable Trust, as the case may be, or of any change in the holders of the power of revocation over the Revocable Trust, or both, or of any change in the trustee(s) of the Revocable Trust (whether such change is temporary or permanent), or of any change in the occupancy of the Property, or of any sale, transfer, assignment or other disposition (whether by operation of law or otherwise) of any beneficial interest in the Revocable Trust. B. ADDITIONAL BORROWER(S). The term "Borrower" When used in the Security Instrument shall refer to the Revocable Trust, the Revocable Trust Trustee(s) and the Revocable Trust Settlor(s), jointly and severally. Each party signing this Rider below (whether by accepting and agreeing to the terms and covenants contained herein or by acknowledging all of the terms and covenants contained herein and agreeing to be bound thereby, or both) covenants and agrees that, whether or not such party is named as "Borrower" on the first page of the Security Instrument, each covenant and agreement and undertaking of "Borrower" in the Security Instrument shall be such party's covenant and agreement and undertaking as "Borrower" and shall be enforceable by Lender as if such party were named as "Borrower" in the Security Instrument. C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN THE REVOCABLE TRUST. Uniform Covenant 18 of the Security Inslrument is amended to read as follows: Transfer of the ProPerty or a Beneficial Interest in Revocable Trust. If, without Lender's prior written consent, (i) all or any part of the Property or an interest in the Property is sold or transferred or (ii) there is a sale, transfer, assignment or other disposition of Page 2 of 4 Initial ECO07L Rev 12/17/02 any beneficial interest in the Revocable Trust, Lender may, at its option, require immediate payment in full of all Sums Secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is Prohibited by Applicable Law. If Lender exercises this option, Lender shall give the Borrower noiice 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 Securiiy 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 luther notice or demand on Borrower. BY SIGNING BELOW, the Revocable Trust Trustee(s) accepts and agrees to the terms and covenants contained in this inter Vivos Revocable Trust Rider. Trustee of the DENNIS AND SUE ANN BOGUE REVOC Trust under trust instrument dated April 17, 2003 , for the benefit of DENNIS R. BOGUE SUE ANN W. BOGUE -Borrower Trustee of the DENNIS AND SUE ANN BOGUE REVOC Trust under trust instrument dated April 17, 2003 , for the benefit of DENNIS R. BOGUE SUE ANN W. BOGUE -Borrower Trustee of the . DENNIS AND SUE ANN BOGUE REVOC Trust under trust instrument dated April 17, 2003 , for the benefit of DENNIS R. BOGUE' SUE ANN W. BOGUE Trustee of the DENNIS AND sUE ANN BOGUE REVOC Trust under trust instrument dated April 17, 2003 , for the benefit of DENNIS R. BOGUE SUE ANN W. BOGUE -Borrower P~age 3 of 4 _~~. -Borrower Initial ECOOTL Rev 12/17/0:> 313 INTER VIVOS REVOCABLE TRUST AS BORROWER- ACKNOWLEDGMENT BY SIGNING BELOW, the undersigned, Settlor(s) of the DENNIS AND SUE ANN BOGUE REVOCABLE TRUST Trust under trust instrument dated April 17, 2003 DENNIS R. BOGUE SUE ANN W. BOGUE for the benefit of acknowledges all of the terms and covenants contained in this Security Instrument and any rider(s) thereto and agrees to be bound thereby. -Trust Settlor~ . -;I/mst Settlor -TT t y, ja ior '-t-~rust Sefilor -Trust Settlor -Trust Settlor -Trust Settlor -Tmst Settlor Page 4 o1' 4 Inilial~ ECOO7L Rev 12/17/02 PLANNED UNIT DEVELOPMENT RIDER 0132~¢4~4 THIS PLANNED UNIT DEVELOPMENT RIDER is made tim 24th day' o; NOVEU~ER 2003 and is incorporated into and shaJl be deemed to ,~mend and sulyplemenl the Mortgage, Deed o[ '['rust or Security Deed (the ~Security Instrument~) of the same date, Wen by the undersigned (the "Borrower") to secure Borrower's NOte to ............................................... WELLS FARGO HOME MORTGAGE I'lC (the *L~nder') of the. same date and covering the Property de.~crib~d in the Security lnr, tttmrtent and located at: ............... . .~..8,...W,A,..L-,~.'.J, ?.. P, .R,[..~. ...... ' ' . .... ................................. ..T~..6,'(.". ~, wy The Property inclUdes, but is not limited lo, a parcel of land improved with a dwelling, together with olher stuzh l~urcels and certain common axeas and £acilJties, as de~ribed in i. the ;;Declarahon .: ........................................ ") TheSTARProv~LEyllV R~NCHm: ..................................................... a p-art of a plan. ned urn!' .................................................. development known as. (f~lame of Planned Ufii! De~etepmenl) (the "PUD'). The Property al~o imlude, s Borrower'~ interest in 'd:~e hony. zowners ~ocJation or equiv',dent entity owning or managing the common areas and facilities of the PUD (the "Owner.s Association") and lh.e uses, benetits and proceeds o{' Borrower's interest. PUD COVENANTS. in addition lo the covenants a. nd agreemenB made in the Security lnstrmnent, Borrower ~.nd Lender further covenant and agree as follows: A. PUD obligations. Borrower shall perform 'all cf Borrower's obligations under the PUD's Conslituent Documents. Thc 'Con.slituent' Documents~ are lhe (i) Declaxalion; (ii) aJtJclcs of incorporation, trust in.~trument or any eq,fivalent doc'ument which creales the Owners Association; and (iii) any by-laws or other rules or ~gula6.ons of the Owners AssocJalion. Borrower shall promptly pay, when due, all dues and assessments Lrnposed Pursuant to the Constituen! Documents. MULTISTATE PUD RIDER Single Family - FNMA;FHI_MC Uniform Instrumen[ Form 3150 1~01 (Page I ct 3; EC025L Rev. ~ 1 ,'! 3/0[) 013111164164 B. Property Insurance. So long as the Owner~ Association maintains, with a generally accepted insut',mce carrier, a 'master" or "blankel'~ policy insuring the Proper~y which is satisfactory to Lender and which pro~qdes ins',,rance coverage in the amotmts (including deductible levels), for the per,ods, and against loss by fire, hazards included within the term ~extended coverage,' and an5' other hazards, includingl but not limited to, earthquakes and floods, for which Lender required irmurm~.ce, then: (i) Lender waives the provifion in Section 3 for the Periodic Payment to Lender of the yeaxly premimn mst,'fllments for property insurance on the Property; and (ii) Bonower"s obligation under Section 5 to maintain property insurance coverage on ~he I'rope.qy is deemed satistied to the extent lhat the required coverage is provided by *abe Owneis AsSOCnafion policy, What Lender reqa/res as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse h-~ required property insurance coverage provided by the master or blanket pol/cy. In the event of a distribution of property 3.nsumnce proceeds in lieu of restoration or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower a,-e hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to tke sums secured by the Security Instrumenl, whether or not then due, with the excess, if an)', paid to Borrowtr. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insuxe that the Owners Association mtfintakns a public liability insurance policy acceptable in fo[m, mount, ~md extent of coverage to Lender. D. Condemnation. The pxoceeds of any award or claim for ChLmages, direct or consequential, payable Io Borrower in connection with any conderrmalion or other taking of ~ or troy pall of the Property er the common areas and facilities of the PUD, or for an), conveyance in lieu of condemnation, hereby assigned and shall be paid to Lender. Such proceeds slxall be. applied by Lender to the sums secured by the Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower sl'mll not, except 'xfter notice to Lender trod with Lender's prior written consent, either partition or subdivide the Property or consent to: (il the abandonment or termination of thc PUD, except tbr abandonment or termination mqui~ed by law in the case of subst~.ntiul destsuction by fire or other casualty or in the case of a vxking by condemnation or emh~ent domaln; (ii) any amendment to any provifion of the ~Constituznt Documents" if the provision i."~ the express benefit cf Lender; (iii) termination of profesSiOnal management and assumption of self-management of the Owners Assoc/ation; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners ~Msociation unacceptable to Lender. MULTISTATE PUD RIDER ~mcjle Family · FNMAJFHLMC UniA3rm Instrument Form 3150 1/01 (Page 2 cf 3; EC~Y25L Rev. 11113/00 316 0132964164 F. Remedies. If Bonower does not pay PUD dues and assessments when due, then Lendrr may pay them. Any tunount~ di~bm'sed by Len~k~r unde~ this paragraph F .~haJl become :'additional debt of Bonower secured by the Security Instruroent. Unless Borrower and Lender agree lo other terms of' paymem, these amounts shall bear interest £~om t~ date of disbursement al lhe Note rate and shall be payable, with intexest; upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW, BoxTower accepts and agrees to the le~ms and provisions contained in this PUD Ridc, r. ~ ~',,¢~' ~,~ ,~,¢C...--- . (Seal} SUI~ ANN BOGUE ~' -Borrower / -Borrower MULTISTATE PUD RIDER Single Famil y. FNDINFHLMC Uniform Instr,ament Form 3150 1/01 (Page 3 or 3} EC025L Rev. 11113/00 317 SECOND HOME RIDER 0132964164 THIS SECOND HOME RIDER is made this .... .2.4..t.h...d..a.Y..°..f..N..O...V..E..M...B..E.'R',..2.9.0..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,") whether there are one or more persons undersigned to secure Borrower's Note to WELLS FARGO HOME MORTGAGE~ INC. ' (the ;:~en~'~;J') ~f t~'~ sa~e d'~te ~-~d covering the Property described in the Security Instrument (the "Property"), which is located at: .................................................................................................................. ... 488 WALNUT DR VE i ........................... ............................................................................................................ (Property Address) In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrument are deleted and are replaced by the following: t;. Occupancy. Borrower shall occupy, and shall only use, the Property as Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment at all times, and shall not subject the Property to any timesharing or other shared, ownership arrangement or to any rental pool or agreement that requires Borrower either to ren! the Property or give a management firm or any other person any control over the occupancy or use of the Property. MULTISTATE SECOND HOME RIDER - Single Family - Fannie Mae/Freddie Mac Uniform Instrument Form 3890 1/01 (Page 1 of 2) EC084L Rev. 11/13/00 318 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 Bor,ro,wer's ,knowledge or cons. ent gave m.a!efially.false, misleading, or inaccurate information or. .statements to Lender, (.or failed to provide Lender with material information) in connection with th.e Loan. Material representations include, but axe not limited to, representations concernmg Borrower's occupancy of the Properly as Borrower's second home. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Second Home Rider. S U~,/A N N BOGUE D~ffN~S I~. ~OgUE' y (Seal) -Borrower ~ (Seal) -Borrower MULTISTATE SECOND HOME RIDER - Single Family - Fannie Mae/Freddie Mac Uniform Instrument Form 3890 1/01 (Page 2 of 2) EC084L Rev. 11/~3/00 3./.9 311 ADJUSTABLE RATE RIDER (t Year LIBOR index - Rate Caps) (Assumable during Life of Loan) 0132964164 THIS ADJUSTABLE RATE RIDER is made this ..2.4..t.h. day o! NOVEMBER, 2003 , and is incorporated into and shall be deemed to amend and s~pl~i~'~3'~i'"~'"~&'~i"~"~ Trust or Security Deed (the "Security instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note") to ..W..E..L.L..S....F..A.8~..O .HOME MOR.T...Q.A.~..E,....N..C. ............................ : ..................................................... (the "Lender") of the same date and covering the property described in the Security Instrument and located at' · ' .4..88...W...A..L..N..U..T. p .R.!VE, THAYNE, WY I]31:~7 ' ............... - .................................... i~';~J;~'~,'c~';~;;'~ .................................................................. THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN ClIANGE AT ANY ONE TIME AND THE MAXIMUM RATE TIIE 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. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ...4,.q0.0.... %. 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 ..D.~.C..E..M.B...E.R.~..~.0..0..fi.....:, 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 Iq~all 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 Holder 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. I YEAR LIBOR INDEX Single Family- Fannie Mae Uniform Inslrumenl EC057L Rev. 01/15/02 (page ! of 3 pages) (C) Calculation of Changes 0132964i64 BefOre each Change Date, the Note Itolder will calculate my new interest rate by adding .t.W...q .a..n..d...o..n..e.-..quarter percentage Points ( 2.250%l ~ ~,o ~ · .......................................................................................... Cu~ent Index. The Note Holder 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 ttoider 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 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 am required to pay at the first Change Date will not be greater than 6 000 e 2 25 o .... ,... ................ Ye or less than ..............0. ...... '/o. Thereafter, my interest rate will never be increased or decreased on any single Change Date' by more than two p. ercentage p. oints (. 2.000%~ r .. : ......................................... : ......... ~ ........................................................................ Item the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than .... ~ .o.,.o..o..0. ..... %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I ~vill pay the amount of my new monthly payment begim]ing 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 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 Section 18 of the Security Instrument is amended to read 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 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. ttowever, this option shall not be exercised by Len. der ff such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted Io Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transfereei 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. MULTISTATE'FIXED/ADJUSTABLE RATE RIDER - I YEAR LIBOR INDEX Single Family - Fannie Mae Uniform Inslrumenl EC057L Rev. 01/15/02 (page 2 of 3 pages) 321 Schedule A Lot 4 in Star Valley Ranch Plat 1i, Lincoln County, Wyoming as described on the official plat thereof