Loading...
HomeMy WebLinkAbout896187Return To: UOtqtCOHINOS FI~C~^~ NeTWOtm. nqC ONE MB~D~ C~OSSJNG, STE 100 MINN~OLIS, MN ~423 Loan Numbor: ~41-91~983-0 Prepared By: 896t87 HomeComings Financial Nztwork 14850 Quorum Drive, Suits 500 Dallas, TX 75254 OOK 54']'pR PAGE RECEIVED LINOO!_h,/ COUe, ITy CLERK MORTGAGE MIN 100062604191098302 DEFINITIONS Words used in multiple sections of this document ar~ defined below and other words are defined in Se¢ions 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "SecUritylnstrument" mean~ this document, which is dated DECEMBER 17TH, 2003 , together with all Riders to this document. (B) "Borrower"is W. CURTIS MIZNER AND MELISSA MIZNER, HUSBAND AND WZFE Borrower is the mortgagor under this SeCurity Instrument. . (C) "MERS"is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is - acting solely as a nominee for Lender and Lender's successors and assigns. MER8 is the mortgagee under tiffs SecUrity Instrument MERS is organizod and existing under the laws of Delawar% and has an address and tel,phone number of P.O. Box2026, Fli~t, MI 41~501-2026, tel. (888) 679-MERS. WYOMING-Single Family-Fannl'e Mae/Freddie Mac UNIFORM INSTRUMENT WITH IV]ERS MtW~'7770 (]ilO0) / o41-gJoP$3-0 VMff MORTGAGE FCRM~ - Form 3051 1/01 , G63 (D) "Lcmler"is HOMECOMINGS FINANCIAL NETWORK INC. Lender is a CORPORATION organized and existing under the laws of DELAWARE' Lender's address is 14050 QUORUM DRIVE, SUITE 500 DALLAS, TX 75254 (E) "Note"means the promissory note signed by BorroWer and dated DECEb,IBER 17TH, 2 003 The Note states that Borrower owes Lender 'ONE 'HUNDRED FIFTY TWO THOUSgND AND NO/100 Dollar~ ('U.S. $ 152,000.00 ) plu~ interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay tho debt In full not later than JANUARY 1ST, 2034 . (F) "Properq,"means the pre'perry that is described below under the heading Property." "Transfer of Rights in the (O) "Loan" means the debt evidenced by tho Note, plus interest, any prepaTraent Charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (n) ,, ,, Riders means all Riders to thio Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [~ Adjustable Rate Balloon Rid0r Rider ~ Condominium Rider ~-] Second Home Ri VA Rider [~ Planned Unit Dcvelm)ment Rid,-- ~, ...... der Biweekly la.,, ....... :; ,~, ~ x-,~ ramny Riser -, --., .... m ~ioer ~ Othcr(s) [specify] (I) "Applicable Law" means all controlling applicable federal, state and local ~tatu~es, regulations, ordinanacs and administrafi¥~ rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "C~mmunity Assoelation Dues, Fee% and A~e~smen~$,' mearu all dues, fe~s, assen~ments and other charges that at.e imposed on Borrowc~ or the Property by' a condominium association, homeowners assoaiation or similar organization. (IQ "Electronic Fund~ Transfer" means an)' transfer of funds, other than a transaction originated by cheek, draft, or similar Paper instrmneut, which i~ initiated through .an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authariz0 a financial institution to debit or credit an account. Such teFn' includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. CL) 'Escrowltems' means those items that are described in Section 3. (h,I) "Miscellaneous Proceeds, means any compensation, settlement, award of damages, or proceeds paid by any third party (other. than insurance procecds paid under the coverages &scribed in Section 5) for: (i) damage to,...or destruction of, tho Property; (ii) condemnation or other taking of all or any part of the lh'.operty; (m) conveyance in lieu of condemnation: vame and/or rend/rich of the Property. . or (iv) misrepresentations of, or omissions as to, the (N) "Mortgage Insurance" means inmranee Protecting Lender against the nonpaYment of, or default on, the Loan. . (0) "PeriodicPavment,, m ..... ,-- ', · - N t I " " v,.m~ um regularly scheduled amount due fo lr~Pl~12/~,l!,arly amounts under Section 3 of this Securi~ In,, ...... r (i) principal ~and ,nterest under tho mrroceaures Act (12 U.S.C. S~cfion 2601 et seq.) and its xmplomenting regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any addit[afial or successor legislation or regulation that governs the same subject matter. As used m this Security Instrument, "RESPA." refers to all requirCmenu and restrictions that are impo~ed in regard to a "federally r~lated mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.. lvWWyT?7o (11/o0) / 041-910993.0  Form 30fiq (Q) "8uccessorin Int0rest of Borrower" means any party that has taken title to the Property, whether or not that p,xrty has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RJGHTS IN THE PROPF. RTy This Security Instn]ment secures to Lender: (0 the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borro~ver's covenants and agreements under this Security Instrument and the Note. For this propose, Borrower does hereby mortgage, grant and convey to 'MERS (solely ~s nominee for Lender and Lender's successors ~td assigns) and .to the successors and assigns of MER$, with power of sale, tho following described propenT' located in the COUNTY of LrNCOLN [Type of Recency/rig Jurisdiction] LOT 77 OF STAR VALLIZy RANCH PLAT 17, LINCOLN COUNTYt WktOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF, P~cellDNumber: 34180520800800 11 STAR CIRCLE THAYNE ("Prope~y Ad'uss"): which currently has the address of ' Wyoming 83127 [zip Code] TOGETHER WITH all the improvements now or hereafter erectod on tho property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacement~ and additions shtll also be covered by this ;Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MER8 holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or eugtoln~ MERS (a~ riomine2 for Lender and Lender's Successors and assigns) has the right; to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender {neluding, but not limited to, releasing and eancellng this Seem'ity Instrument. BORROWER COVENANTS that Borrower is lawfully Seis~d of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. BOrrower warrants and will defend generally the title to the'Property against all claims and demands, subject to any encumbrances of record. TI-ilS SECURITY' INSTRUMENT combines un/form covenants for national use and non-uniform covenants with limi'ied Variations by jurisdiction to constitute a uniform security instrument covering real property. h~l, rY7770 (11/00) / 0~1-910983-0 Form 3051 tl01 G65 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: l. Payment of Principal, Interest, Escrow Item~, Prepayment Charges, and Late Charges, Borrower shall pay when due the principal of,' ahd 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 cheek 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 of the following forms, as selected by Lender: (a) cash; (b) money order; (e) certified cheek, bank cheek, treasurer's check or cashier's cheek ' ' ' ', provided any such cheek is drawn u on an institution whose deposits are insured by a federal agency, iusmamentality, or entity; or (d) Electr ~nClcpayments Funds Transfer. are deemed received by Lender when received at the location designated in thc Note or at such other location as ma7 be d.esigmated 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 Lo~. current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without walvor of any rights hereunder or prejudice to ~ts rights to refuse such payment or partial payments in the future, Nit Lender is not obligated to apply such payments at the time such payments are .accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unappIied 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 thc Note immediately prior to foreclomre. No olivet or claim which Borrower might Mve 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 Instxument. . 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 the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (e) 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 prlnelpal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic payment which includes a sufficient amount to pay any late charge due, the navment m · . the late charge. If more than on~ Periodic Pavmen,'if,,,,, .... a~y_be, app. hed t0 the ,dehnquent payment and ............ uumg, ~enaer may apply any payment received fi.om Borrower to the repayment of the Periodic Payments if. an paid in full. To the extent that' any ~x,'~s.' ~: ..... ~.~,., . d .to the extent that, each a meat more Periodic Payments, such excess may be appllcd to ahy late charges due. Voluntar7 prepayments shall v ......... ,,u uner me payment IS apphed to the full P~Y~Yent of be appliod first to any prepayment charges and then a~ described in the Note. Any application of payments~ insurance proceeds, or Miscellaneous Proceeds to prinolpal due under the Note shall not extend or postpone the due date, or change the amount, of the Perlodie Payments. 3. Funds for Escrow Items. Borrower shall pay to Lend,r on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "~nds") to provide for payment of amounts 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 payments or ground rents on the Property, if any; (e) premiums for any and ali insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These 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, bo escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly fumiah to Lender all notices of amount~ to be paid under this.-Section. Borrower shall pay Lender the Funds Borrower's obligation to pay the Funds for any or all Escrow for Escrow he.ms unless Lender waives Items. Lender may waive Borrower's .obligafim~ to pay to Lender Funds ?or any or all Escrow Items at any time. Any such waiver may only be m writing. In the cve'nt of Such wa/vet, Borrower shall pay directly, when and ~'here payable, the amounts MI%VY7770 (II/00) / (OOO6},O~ Page 4 of ~~. Form 3051 1/01 08 618V GGG due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender reeelpts cv/dencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is nsed in Section 9. If Borrower is obligated to pay Escrow Items direetl7' pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount mid Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke tho waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that 'arc then required under this Section 3. Lender may, at any time, collect and hold Funds in an mnount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and Co) not to exceed the maximum mnount a lender can require under RESPA. Lander shall estimate the amount of FUnds due on the .basis of current dat~ and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with. Applicable Law. The Funds shall be held in 'an institution ' whose deposits are' insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Banlc. Lender shall apply the Funds to pay the 'Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or e,'umlngs on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. ~ If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excc~s funds in accordance With RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up thc 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 thc amount neces,~ar7 to make up the deficiency in accordance with RESPA, but 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. Chat'gesl Liens, Bah'ewer Shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Ins~mcnt, leasehold ground rents on the Property, if any, and CommunityAssociatiou Dues. . pa.yments or the extent that these items are Ese. row ltem~ n ......... t. ........ . F.,ees, and Assessments, if any. To -, ...... ,.- ~uau pay mere tn me manner pray/red in Section 3 Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Burros, ct: (a) agrees in writing to the payment of the obllgation secured by the lien in a manner acceptable to Lender, but only ~o long as Borrower is performing suel~ agreement; (b) contests the llen in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent thc enforcement of the lien while those proceedings are pending, but only until ,~uch proceedings are concluded; or (c) secures ~om th~ holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pan of the Property is subject to a lien which can attain pi. lority over this Security Instrument, Lender may give Borrower a notice identifying the . hJFWY7770 (11/00) / o41-91o983-o P.g~ 5 ol 15 Farm 3061 1/01 :: :v,~,',},;,%,F G67 lien. Within I0 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 Bozrower to pay a one-time charge for a real estate tax verifioatlon and/or reporting service used by Lender in connect/tn with this Loan. 5, Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (inclucting deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences eau change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrtwer's choice, which right shall not be exercised unreasonably. Lender may requke Borrower to pay~ in connection with this Loan, either: (a) a one-t/me' charge for flood zone determination, certification and tracking sen,lees; or (b) a one-time charge for flood zone determination and certification services and subsequent eharge~ each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment et' any fees imposed by thc Federal Emergency Management Agency in connection with the review of any flood zen0 determination restflting fi.om 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 Bon'ower's expense. Lender is under no obligation to pm'chase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard Or liability and might provide greater or lesser coverage than was previously in effect. Borrower .acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of ~nsurance that Borrower could have obfiaincd..4.ny 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 of disbursement and shall be payable, with such interest, ~pon notice from 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 po. lieies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an'additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices, l~f Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or dcsta'uetion of~ the Property, 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 prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Itorrower. Unless Leader and Borrower otherwise agree in writing, any insurance proceeds, wh0ther or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period. Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the reps/rs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Lttw .requires interest to be paid on snell insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shal..l not b:e paid out of the insurance proceeds and shall be the sole obligation of Borrower. If th~ restoration-or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whetlaer or not then due, with ~tF'W~7770 (1 I/O0) / 041-910~83-0 ~~ Form30~l 1/0, 668 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim a~d related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the nodce is given. In either event, or if Lender acquires thc Property under Section 22 or otherwise, Borrower hereby assigns to Lender la) Borrowers rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and Co) any other of Borrower's rights (other th,tn the fight to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights arc applicable to the coverage of thc Property. Lender may use the insurance proceeds either to repair or rester0 the Property or to pay amounts unpaid under the Note or this Security Instrument, whethcr or not then due. 6. Occupancy. Borrower shall occupy, establish, and use thc Property as Borrower's prinelpal residcnce within 60 days alter thc execution of this Security Instrument and shall continue to occupy tho Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender oth0rw~se agrees in ;wiring, which comqent shall not be unreasonably withheld, or unless cxtenuating circumstances exist which are beyond Borrower's control. 7. Preservations Maintenance and Protection of the ProperS.; Inspections. Borrower shall not destroy, damage or impah' the Property, allow the Property to deterloratc or commit waste on the Property. Whether or. not Borrower is rcsidlng 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, Borrow,r shall promptly repair thc Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid ia connection with damage to, or the taking of, the Property, Bon'ower shall be responsible for rcpainng m restoring the Property only if Lender has released proceeds for such purposes. Lender ]nay disburse proceeds for tho repairs and restoration in a single payment or in a series of progless payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has ~casonable 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 rcasonable cause. 8. Borrower's Lean Application. Borrower shall be in default if, during the Loan application proces% 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, ~epresentations concerning Borrower's occupancy of Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property, and Rights Ureter this Security Instrument, If la) Borrower fails to perform the covenants and agreements contained in this S~curity Instrument, lb) there ts 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 enforcem,nt of a lien' wlfich may attain priority over this Security Instrument Or to enforc, laws or regulations), or lc) Borrower has abandoned thc Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lenders interest in the Property and rights under this Security Insa'umcnt. i~cludi'ng protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limftcd to: la) paying any sums secured by a llen which has priority over this Security instrument; lb) appearing in court; and lc) paying reasonable MF'fi~7770 (I Il00} / 041-910~)B3-0 M)~td~{~,. Ifforrll 3051 '/01 .attorneys, fees to protect its interest in the Property and/or '. . . , . its secured posit/on in a bankru~)tcv m'oe,,~m,~,, ,' ..... __n,g~hts,.under thts SecuntyInstrument, entering the Property to ........ ~. o~unug me vroperty includes, but is not litnit make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other cod0 violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Sectidn 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed fl~at Lender incurs no liability for not taking andy or all .actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of d/sbursement and shall be payable, with such interest, upon notice fi.om Lender to Borrower requesting payment. ' If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, file leasehold and the fee title shall not merge unlesa Lender agrees to the 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 Insurane~ in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available fi.ora thc 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 plemiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, fi-om an alternate mortgage insurer selected by Lender. If substantially equivalent Mmtgage Insurance coverage is not available, Borrower shall continue ~o pay to Lender the amount of the ~eparately designated payments that were clue when the insurance coverage ceased to be in effect. Lcnder will accept, use and retain these payments as a non-refundable loss reserve in lieu of lVlortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ulfimatelypaid in full, aa~d Lender shall not be required to pay Borro3ver any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgag0 In.~uranec coverage (in tlxe amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lendcr requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condldon of making the Loan and Borrower was rcquircd to make separately deslgnatcd payments toward the premiums far Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss resents, until Lenders requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing *br such termination or until termination is required by APplicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at thc rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Instlr~nce. Mortgage insurers evaluate their total risk on all such insurance in force fi.om time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements ~e on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that thc mortgage insurer may have av,'dlable (which may include funds obtained from Mortgage Insurances premiums). As a result of these agreements, Lender~ any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (d;rectly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for shoe-ins or modifying the mortgage insurers risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a sha~e of the insurer's risk in exchange for a share of th~ premiums paid to the:insurer, the arrangement is often termed "captive ' reinsurance. Further: (a) Any'Such ~greements will not affect the amounts that Borrower has agreed .to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements ~vill not increase the amount Borrower will owe for Mortgage Insuranee~ and they will not entitle BOrrower to any refund. MFWYT?7o (I 1/0~) / 041-9hq983~0 L/~ Form30.1 1/01 (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 tile right to receive certain disclosures, to request and obtain cancellation of the l~ortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insttrance premiums that were unearned at the time of suclt 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 the Prope~xy, if the restoration or repair is economically feaslble and Lender's security is not lessened. During such repair and restoratiou period, Lender shall have the r~ght to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has Lender's satisfaction, promded that such inspection shall be ~nd~ ........ been comple, ted.to ' t ....... promptly. Lender may pay Ior the repairs and restoration in a single disbursement or in a series of progress payments as the work is ~ompleted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not bo required to pay Borrower any interest or earnings on such  iscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would 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 for in Seetlon 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Pro e in wh' value of the Property ~mmediatclv before the ~.',:-~ ,-,-' .... p ny ich the fair market .greater than thc amount of the sums secured by this Security Instrument immediately before the partial ~ · pmuai tatting, oesrrucuon, or loss in value is equal to or taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the stuns se0ured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial raking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of'thu sums secured immediatel7 before tho partial taking, destruction, or loss in value, unless Borrower and Lender othcrwlse agree in writing, the MiseellaneoUs Prococds shall be applled 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 thc next sentence) offers to make an award to settlu 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 thc Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Seeurlty Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower' Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action ur proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Propeity or other tnaterial impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has oceun'ed, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the PropelW or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceuds of any award or claim for damages that are attributable to the impairment of Lender's' interest in the Property are hereby assigned and shall be paid to Lender. All MisoeIlanebus Proceeds that are not applied to restoration or rep,fir of the Property shall be applied in the order provided for in Suction 2. ' MI~VY7770 (l l/e0) / 0nl-9109[13-0 ~®'6^(WYI fao0sl.0~ Form .t051 1/01 12. Borrower Not Released; Forbearance By Lender Not a Waiver, Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrmver. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by tho 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 the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Suecessers and Assigns Bound. Borrower covenants and .,agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-s~gns 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 Propeay under the terms 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 to the terms of this Security [nstmmeut or the Note without the co-~igner's consent, Subject to the pro¥isions 'of Section lg, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instnnnent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Imtmment. Borrower shall not be released from Borrower's obligations and l~ability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (e×eept ag provided in Section 20) and benefit the successors and assigns of Lender.. 14. Lo~n Charges. Lender may charge Borrower fees for services performed in connection with Borrowers default, for the purpose of protecting Lender's interest in tho Property and ri ht~ undo Security Instrument, including, but not limited 'o, attorneys' fees, property ins ection andes . r P luatlon 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 fcc. Lender may not charge fees that are expressly prohibit'ed b7 this Security Instrument or by Applicable Law. If the Loan is subject to a Iow which sets maximum Icon charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in eonnectlon with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by charge to the permitted limit; and (b) any sums already collected fi.om the amount ne~cssar7 to reduce the ' Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces rinci reduction will be treated as a partial prepayment without any nee ........ u ...... . .P p 1. the 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 overchargc. 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 Bon'ower when mailed by first class mall or when actually delivered to Borrower's notice address if sent by off,er means. Notice to any one Borrower shall constitute notice to all Borrowers unl0ss Applicable Law expressly requkcs othenvlse. The notice address shall be the Property Address unless Borrower ha~ designated a substitute notice address by notice to Lender. Borrower shall promp_fl, y notify Lender of Borrower's change of address. If Lender specifics a procedure for repotting Borrower s change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lendcr shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein un!c~s Lender has designated another address by notice to Borrower. Any notice in connection with thi~ Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice rcquk,-.d by this Security Instrument is also required llnder Applicable Law, the Applicable Law requirmnent will satisfy the corresponding requirement under this Security Instrument. MFWY'777o (Il/off)/ o41-911198,-o' 16, Governing Law; Severability; Rules of Construction, This Security Instrument shall be governed by federal law and thc ]aw of the jurisdiction in which the Propeay is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might e×plieitl or im Il 't - . uvent mat any provision or clause of th;- e .... _.,_. · .~.v . un.. ag.a.mst agreement by contract. I Law, such conflict shall not affect othe~- ,~^~.~'~.,~.ns~men. t ~ me Note conflicts With g~ven effect without tho o,~.m~,;__ _" '. v.,~,,,o,um m. tins ~ecuntv lnstrume-t ,~. ~.- x, ..... ~,~' .... ,an-~.mlg provIsloI1. .. ,, .,. tu~ i'~te WrllCil Can As Used in this Security Instrument: (a) words of thc masculine gender shall mean and include corresponding neuter words or words of the feminine gender; s(b) words in the singular shall mean and iuclUde the plural and vice versa; and (c) the word "may" give sole discretion without any obligation to take any aetlon. 17. Borrower's Copy. Borrower shall be given one copy of the'Note and of this S~trlty Instrument. 18. Trausfee of the Property or a Beneficial Interest in Borrower, As used ;n this Section 18, "Iuter~st in the P. roperty" means any legal or beneficial interest in the ProPerty, including, but not limit to, those beneficial interests ~ansferred in a bond for deed, conh;act for deed, inshallment sale ......... escrow agreement, tlm intent of which is the transfer of t/tie by Borrower at a future date to a purchaser. If all or any p,'u't of the Property or any Interest in the · is not a natural person and a beneficial irt ...... ' '~ P. rope..~ ~s ~old or transferred or if Borrow written consent Lend ........... .. ~ ~.~.~ in ~orrower ts sold or transferred~ ,.,-~ .... (, .... er ~___ , ,,~ may IcqBlrO nnmeaiate ....... - ...... ~ ~-,m~ut ~cnoerS r~Hor ~.n~m,.unent. However, this option shall no' ~-~ f.~y.~,},.yn,t .m ~..o~ a.u sums Secured by this apptmable Law. . ~ ~ ~uw~ea vy Lender tf such exercise is prohibit;d-~)'3 If Lender exercises this option, Lender shall give rtorrower 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 In~rurnent. 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. 19. Borrower's Pdgllt to Reinstate After Acceleration. If Borrower meets eemin eondltions, Borrower shall have the fight to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's fight to reinstate; or (e) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: o(a) pays Lender all sums which then would be due under this Security Instrument and the Note as if n acceleration had occurred; (b) cures any default of any other covenants or agreements; (e) pays all expenses incurred in enforcing this Security Instmment~ including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees m purpose of protecting Lender's interest in . . ' cuffed for the the Property and rights under thts Security Instrument; and (d) t,nl~es such action as Lender may reasonably require to assure that Lender's interest in the Property and fights under this Security Instrument, and Borrower's obli argon to Instrument, shall continue m~chanoed ~a ..... g, . ~ pay tM sums secured by this Security expenses in one or more of the followin~ fnn~,Y~-q-' .... ~.ao_rrow. er pay such rmnstatementsums o ------~, ~ a~ccma oy Lender. ra~ cash' rn~ ........ a!~,d ' . . , ~! a.unuy oroer; lc) certified check, bank check, tre~urer's check or cashier's check, prohded any such check is drawn upon an institution whose deposits are insured by a federal aene " ' Funds Transfer. Uoon reinsta* ...... t_ ~, .... ~g .Y, mstrumentahty or entity; or ( ' .......... uy ~orrower, m~s ~ccuntv Instrument .,,a ~u~;~..'.'z.. ,d) El,e?-on.m shall remain fully effective as if no acceleration had occurred. However~ this right to reinstate shah not ~ ua.,,..s uullgi~tlOnS secures nereoy apply in the ease of acceleration under Section 1 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 mlght result in a change in the entity (known as the "Loan Servicer") that collects Peri°die Payments due under the Note and this Seeurhy Instrument and perfonm other mortgage loan servicing obligations under the Note, this Security Instrmnent, and Applicable Law. There also might be one or more ~hang6s of the Loan Servicer unrelated to a sale of' tho 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 information RESPA lv1'1~77o (11/00) / 041-9109&1.0 P~ge 11 ot~5 Form 3051 tl01 requ.ares, J,n connect]o_n w~th a not, ce of fi'ansfer of servicing. If the Note is sold and thereafier the Loan Is services Dy a Loan Servicer other than thc 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 ha, breached any provision of, or any dui3, 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-~uch 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 eon be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of aeeeleratlon and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportu,nity to take corrective action provisions of this Section 20. 21. Hazardous ;Substances. As used in this Section 21: (a) "Hazardous Substances*' are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the ~bllowing 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 of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (e) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Enx4ronmental Law; and (d) an "Environmental Condition'.' means a condition that can cause, contribute to, or othen~,ise trigger an Environmental Cleanup. Borrower shall not cause or pennit 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 affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (o) which, due .to the presence, use, or release of a Hazardous Substance, creates a condition fl~at adversely affects the value of the Prope~W. Tho preceding two sentences shall not apply to the pres0nee, use, or storage on the Property of small quantities of 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 govermnental or regulatory agency or private party involving the Property and any Hazardous Substance or Enviro~u'nental Law of which Borrower bas actual knowledge, Co) any Environmental condition, including but not limited to, an3' spilling, leaking, discharge, release or tkreat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notifiod by any governmental or regulatory authority, or any private party, that any rem'oval or other r=mediation of any Flaz, ardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions .Sa accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an En~3nmental Cleanup. · ~7770 (il/00) / 04~-9109~3.0 i Pn~3~ 12 =f 15 Form 305J 1/01 374 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 agreemen~ in this Security Instrument (but not prior to acceleration undec 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 mast 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 ~o reinstate after acceleralton 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 tile date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may in-~oke the power of ~ale 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 invoices the power of sale, Lender sllall give notice of intent to foreclose to Borrower and to the person in ·possession of the ProperlT, if different, iu accordance with Applicable Law. Lender shall give notice of the sale to Borrower in tile manner provided in Section 15. Lender shall publish the notice of sale, and tile Propert3~ shall be sohl ia the manner prescribed by Applicable Law. Lender or its designee may purchase the Propert3~ at any sale. The proceeds of tile sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorueys' fees; (b) to all sums secured by this Securily 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 Iustrument, Lender shall release this Seellrity Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fcc for releasing this St~curlty InsLrument, 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, Bon'ower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. MFWY7770 (Il/00) / 041-910983-0 (~)e-6A(WY) (aO0~i~.O, Inltla&:~ Form 3051 1/O'J BY SIGNING BELOW, Borrower accepts and agrees to the terms a~d covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: I l ~. · (Seal) MELI~SA M I ZNER~~ ~ , -Bon'ow~r (Seal) - __ (Seal) (Seal) -~)orrower (Seal) -Borrour~r (Seal) -Borrower (Seal) Ml%VY7770 (l 1/00) / 041-9109~]3.0 Form 30Sl 11Ol STATE OF ~VYOMING, The foregoing instrument was acknowledged before me this by W. CURTIS MIZNER AND MELISSA MI_Z~IER3....~.U. SBAND II Coun~ of i1~,~.~ State of' My Commission Expires: ~-I ~- ~e ce rr~ber- AND WIFE '1 '7, 2003 MFWY7770 (l 1/00) / 041-910983-0 ~®4~A(WY) fooos),o~ Form3osl f377 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 3. 771t DECEMBER, day of 2003 , and is incorporated into and shall bo deemed to amend and supplement thc Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date, given by the undersigned (thc "Borrower") to secure Borrower's Note to HOMECOMINGS FINANCIAL NETWORK INC. . (the "Lender") of the same date and covehng the Property described in the SeeuriW Instrument and located at: 11 STAR CIRCLE THAYNE, WY 83127 The Property includes, but is not limited to, a pm'eel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as deserlbed in COVENANTSt CONDITIONS, AND RESTRICTIONS (~he "Declaration"). The Property is a part of a planned unit d,ve]opment known as STAR VALLEY RANCH (Nam~ of Planned Unl[ Dc~,olupm~nt] (the "pUD"). The Property also includes Borrower's interest in the homeowners as,ociatlon or equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits and proceeds of Bmrow~r's interest. PUD COVENANTS. In addition re the covenants and agreements made in the Security Instrument, Bon'owcr and Lender further cra, chant and agree as follows: A, PUD Obligations. Borrower shall Perform all of Borrower's obligations under thc PUD's Constituent Documems. The "Constituent Documents" are the (0 Declaration; (ii) articles of incorporation, trust instrument or any equivalent document which creates the Owners Assoeiatiml; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. MULTISTATE PUD RIDER- Sin(ile Family - Fannie Mae/Fr.ddl~ Mac UNIFORM INSTRUMENT Form 4[~),~7R (0008) VMp MORTGAGE FORMS. (800)521-7291 678 B. Proper~ Insurance. So long as the Owners Ass ' ' · ' . eels(lo ' ' ins(trance carrier, a master or "bl,-I,,~,' -~,~,.: ............ n mare, .t:a?s, with a generally accepted ..... p .... y man,lng mc ~'ropcrty Wllle/~ is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels),, for the periods, and against loss by fire, hazards inelltdcd within the term "extended coxrerage,,, and any other hazards, including, but not ]i~nlted to, earthquakes and floods, for ~vbich Lender requires insur:~nee, then: (i) Lender waives thc provision in Section 3 for tho Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Boixower's obligation under Section 5 to malntMn property instlrano¢ coverage on the Property is deemed satisfied to tho extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shah gix;e Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the 0vent of a distribution of property insurance proceeds in lieu of rcs(oration or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, whether or not than due, with the excess, if any, paid to Borrower. C, Public Liabilit3, Insurance. Borrower shall take such actions as m ,.he Owners Assoc,at,on ma, nra,ns a public liability insurance policy acccapYtabt~ ere~?oabr~l7 to insure that of coverage to L~;nder. amount, and extent D, ?o..ndemnation. The proceeds of any award or claim for damages, direct or consequential, payable to ~orrower in connection with ar~y condemnation or other taking of all or any pan of the Property or the common areas and facilities of the PUD, or for any conveyance in licu of condemnation, are hereby assigned and shall be' paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the $ee'6rity Insta~ument as provided in Section 11. E, Lender's Prior Consent. Borrower shall not, except aftcr notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: ti) the abandonment or tormlnation of the PUD, except for abandonment or termination required by law ia the case of substantial destruction by tire or other casualty or in the case of a taking by condemnation or eminent domain, n .... .. any amendment to any provision of the Constituent Documents" if the provision is for the express be'n of Lender; (iii)termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage m,'dntained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower do~s not pay PUD dues and assessments when due, (llen Lender may them. Any mnounts disbursed by Lender under this paragraph F shall become additional debt of B.on'o'~ve'r seemed by the SecUrity Instrument. UnlCss Borrower and Lender agree to other terms of payment, these amounts shall bear interest fi.om the date of disbursement at the Note rate and shall be payable, with interest, upon notice bom Lender to Ben:ewer requesting payment. MFCDso~8. (410I) I 041,.910983~ Page 2 of 3 Form 3150 1/01 679 BY SIGNING BELOW, Borrower aeeept~ and agrees to the terms and provisions contained in this PUD Rider. W. CURTIS MIZNER / -Burrower (Seal) (Seal) -l) orrow~r (Seal) -~orrow~r (Seal) __ (Seal) -BOlTowor . (Seal) (Seal) -~orro'~r l~)dTR (ooo8) Pa9o 3 o[ 3 Form 3150 1101 68O FIXED/ADJUSTABLE RATE RIDER (LIBOR One?Year Index (As Published In The ~Vall ~treetJournaO- Rate Caps) ,T.HIS FIXED/ADJUSTABLE RATE RIDER is made this J. 7TH and ~s tncorporatcd into and shall be deemed to amend and supplement day of DECEHBER, 2003 , ,, the Mortgage, Deed of Trust, or Security Deed (the Security Instrument") of th~ same date given by the undersigned ("Bon'ower") to se,ufo Borrower's Fixed/Adjustable Rate Note (the "Note") to HOMECOMINGS FINANCIAL NETWORK INC. ("Lender") of the same date and coveting the property described in the Security InstrUment and located at: 11 STAR CIRCLE THAYNE, WY 83127 [Pxop m-y Address) THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S F/XED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreemen[s made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A, ADJUSTABLE RATE AND MONTIILY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 5.0000 %. The Note also provides for ,'t chang, in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial fixed, interest rate I will pay will change to an adjustable interest rate on the first day of JANUARY, 2009 , and the adjustable interest rate I will pay may change on that day every 12th month thereafter. The date on which my ~nitial fixed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change, is called a "Change Date." MULTISTATE FIXED/ADJUSTABLE RATE RIDER. WSJ One-Year LtBO R-Single Family Fan ale Mae Uniform Instrument ' (~168R (0108) Form 311t7 Page I ol 4 Inilials: VMP MORTGAGE FORMS ~ (800)5~1-729¥ MFCD6~J3-(1/02) / 041-9109~J-0 ('B) The Index Beginning with tho first Change Date, my adj~lstable interest rate will be based on an Index. The "Index" is tho average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market ("LIBOR"), as published in The Wall ,.Ctreet Journal The most recent Index figure available as of/he date 45 days before each Change Date is called the "Ctm'ent Index." If the Index is ~o longer available, the Note Holder will oboes¢ a new index that is based upon comparable informat/oh. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONI~ FOURTH percentage points ( 2. 2500 %) to the Current 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 Holder will then determine the amount of thc monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at thc Change Date in full on the Maturity Date at my new interest rate in substantially equal payments, The result of this ealculatlon will be the new amount of my monthly payment/ (D) Limits on Interest Rate Changes The interest rate I am requixed to pay at thc first Change Date will not be greater Chou 10. 0000 % or less than 2. 2500 %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than two ~ereentage points fi'om the rate of interest I have been paying for tho preecding 12 months. My interest rate will never bo greater than 10. 0000 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. 0r) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed interest rate to an adjustable interest rate and of any changes in my adjustable interest rate before the effective date of any change. Thc notice will include the amonnt of my monthly payment, any information required by law to be glven to me and also tho title and telephone number of a person who will answer any question I may have regarding the notice. B. TIL~.NSFER OF TtIE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. Until Borrower's initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument shall read as follows: MFCDtI33- (I/070 / 041-910983.fl InlOais: (~16[lR [0108) Pags 2 o1'4 - urlR~,~ Forn 3~,7 682 Transfer of the Proper or a · 18, "Interest in the Prone,*,~' ~ .... _B?n.eflcs?l In. terest in Borrower A ' · . - -,---.J .... -,,s any le a, or~e~;dfi~nS' .. s uscd m ~],~ Sect,~. but not hm,ted to, ~ose bencfimal mtercst~ ~s 'gT~7[~P ~2~'~SS~:.'ee~u~m~, insmlhnent sales contract or escrow a~eement, the intent of Which is the ~ansfer of title by Bonower at a ~turo date to a purchaser. If ~1 or ~y pm of ~e Property or any Interest in Bg~Wer is not a na~ml ........ a ......... ~ Pro~,~ is ~old or misfened ' w~out Lend ' · y ...... ~,u a pcn[ncmi mt~rest in B wet l, -~-, -- :'- sums sec .... ~ ~'fi.,pn~r wr{[te[~ consent, Lender may require i-~2" ,,,u u[ ~sle~ea) :~__~ ~uy mrs ~e~tylnshument Howler t~-Z'--~- 'T"gm~%pa~ent m ~I1 of all , ~ucn exercise is prohibkcd by Applicable Law ~ u,a upuon snaU not ~c exercised by Lender If Lender exercises this option, Lender $~l give Bo~ower no0ce of accclera~ou. The notice shall provide a period of not less ~an 30 days Rom thc date ~c notice is given in ~cc?dancc with Section 15 within whmh Bo~ower must a lBS ' __~en~. If Bmzower hils to nay these sums ~fior *~ ~ ~II ~u~s second by ~is Scc~ may ln~? any remedies pcm)tted b ~is ~.. ,u mC ?~a~.~o~ et ~h¢ [cried, Lender demand un Boixowcr. Y Security Ins~,u~nt w~thou[ ~hcr notice or 2. When Bo~ower's initial fixed interest rate ~hang~s to an adjus~ble interest'rate under thc tc~ stated in SectionA abovc, Un~form Covenant 18 of the Sccuri~ Ins~mcnt described in Section BI above sh~l tMn etas, to be in effecb ~d tim pro~sions of Unifo~ Covenant 18 of thc Sccufi~ Ins~ent sh~l be amended to read as followa: Transfer of the ProperB~ or a Beneficial Interest ~n Borrower, As used in this Section 18, "Interest in ~e PropelS'*. mc~s ~y legal or b~ncfi,ial interest in the Prope~, including, but not limited to, those beneficial interests '~ansfe~ed m a bond for deed, conkact for deed, installment sales con,act or escrow a~ecment, ~e intent of which is thc ~nsfer of title by Bo~ower at a ~turc date to a purchasen If all .or any pm of thc Propeay or any Interest in th '. ' Bp~ower *s not a natural -crso .... ~ ~ ~ ....~ . , . . ~ ~ro~c~ ~s sold or ~ansfe~cd o ' wxthout Lender's ~r; ...... :[L_ "~,~ .~ :~..Wcm~ ,ntcrcs[ m ~o~owcr is sold .~ sums secured by th~s'~ec;;~clnn sc~}~.~[ ~?~.ma[requk~ immodiau para;nj'in . . . . . -~ .u.,,cm. nuw¢vcr, tins opholl shall not be exercised b Lender tf such cxermse ~s prohibited by Applicable Law Lender al Y (a) Bo~owcr causes to b, submittcdto L-~- ,2~ .- so s~al(~ot exercise th~ option ~uu~ mm~auon reqmred by Lender to ~aluato the intended transferee as if a new loan were being mad~ to ~e ~ansferc [?sopably dcte~ines that L n ~'~ .... ' ' . . . *; and b Lend , . . e~de ..... unW wdl not be ,m ~ed ~y ~e lom~ a,su~)6on a~ ~1:~ risk of a breach of any covc.ant or a~ecmcn/i~ "lis ~.l'iW I~s~ment is accg~blcto To ~e extent pe~itlcd by Applicable Law, Len ~pndihon to Lendcr!s consent to ~e Io~ ass.~.*i% 1 [~c~_m? chase a [cas?nablc fee as a atgn an assumotion a~e¢mcnt t~--*: ...... ~J;[V'",' ~ucr ~sq may requ~c ~c U~sfcr keep all tho ~romi,X ...~ --1'~'}' '~ f~uCP~°m to.~enaer mm that obli~ate.~ fha ~ .... ~.~e ~o BOlTOWer wilfeontinue to h~;--.-~?-~~ ~[ a?,Note eng.m a~s Securit Insure . r.-~ .... , .... _. . ** y~,,~,,,~u unacr mc ~otc and this Sec~W Ins~lmcnt If Lender ex?cises the option to requke immediate ., ' }o~p~e~,nottee of acceleration, The notice shall nm.;~ - ffff~myn~ m ~11, ~ender shall me ~te thc notice is alven ;= ~..a ........ 55-'; ~2~ .... a p?po o~po; less than 30 da s ~o ............ ~u ;~tn oecuon 15 wl~m whmh B Y m ~ ~' o~owcr must pay all MFCo6133. (I/02) / 041-910983-0 Page 3 of 4 Initials: Form 3187 6/01 683 ' sums secured by this' Security In~lrUment' If Borrowe - expiration of this period Lender .... ; .... ,. ...... r fails to pay these sums ' without further nnt;,-~ -' - . ,,,,,~,,v,,~.~ auy remedtes Berm' d hv tl,;o ,. ._pr. lOt to the ........... ur oemanct on ~orrower. _ Itte_ -a ~.,~ oecunty lnstrum0nt BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in thi~ Fixed/Adjustable Rate Rider. W, CURTIS bflZNER ' '/ -Borrower MELIS'S L(SOal) -BorroWer (sea) (Seal) -B~r~ower (Seal) -Bon'ow~ (Seal) -Bor~owmr (Seal) -Bo~r0wer Iv~el)6133-(1/02) / 041-910983-0 (~,~S~R (o~o~) Page 4 of 4 Farm 3t87 O/Ol