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HomeMy WebLinkAbout878448~ .. 04015198 Return To: P.O. Box 8800 P.O. Box 8800 [Space Above This Line For Recording Data] MORTGAGE oooo83962o DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 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) "Security I~trument" means this document, which is dated together with all I~iders to this document. Januaz3r 3, 2002 , (B) "Borrower"is _ CHAD A KLIGORA, a Single Man Borrower is the mortgagor under this Security Instrument. (C) "Lender" is National City Mortgage Co dba Commonwealth United Mortgage Company Lender is a ~orporation organized and existing under the laws of The State of Ohio WYOMING-Single tamily-Fannie Mae,/F~'eddle Mac UNIFORM INSTRUMENT Form 3051 1/01 (~'6(WY) (ooo5> ~ Page 1 ol15 Inltlals: (~ , ~ 051 Lender's address 3232 Newmark Drive, Miamisburg, OH 45342 Lender is the mot agee under this Security Instrument. (D) "Note" mean: the pronussory note signed by Borrower and dated January 3, 2002 The Note states th t Borrower owes Lender EIGHTY THREE THOUSAND & 00/100 Dollars (U.Si $ 83,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pty the debt in full not later than Febru dry 1, 2 03 2 (E) "Property" ~eans the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" mpa the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Not{ and all sums due under this Security Instrument, plus interest. (G) "Riders" me ins all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be e~ ecuted by Borrower [check box as applicable]: [--] Adjustable R:~te Rider [] Condominium Rider [--~ Second Home Rider [--'q Balloon Ride] ~] Planned Unit Development Rider [---] 1-4 Family Rider [] VA Rider ~ Biweekly Payment Rider ~ Other(s) [specify] (H) "Applicable ~aw" means all controlling applicable federal, state and local statutes, regulations, ordinances and ad ninistrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable iud cial opinions. (I) "Community ~_ssociation Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are ~mposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Ft rids Transfer" means any transfer of funds, other than a transaction originated by check. draft, or similar pl per instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magr eric tape so as to order, ihstruct, or authorize a financial institution to debit or credit an account. Such rer:n includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transf~.,rs initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Item t" means those items that are described in Section 3 (L) "Miscellaneou,. Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (o~her than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destrlction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as m, the value and/or condition of the Pr~ perty. (M) "Mortgage ~urance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Pa~ nent" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any tmounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regu ation. Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional o[ successor legislation or regulation that governs the same subject matter. As used in this Security: Instrumenf, "RESPA" refers to all requirements and restrictions that are im osed in re ard to' a "federally related n~ortgage loan" even if the Loan does not qualify asa "federally r~ated mortgagee loan" under RESPA. (0005) Page2 o~5 Form 3051 1/01 052 (P) "Successor ir~ Interest of Borrower" means any party that has taken title to the Property, whether or not that party has asstlmed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of :he Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrume a and the Note. For this purpose, Borrower does hereby mortgage, gram and convey to Lender and Lend~r's successors and assigns, with power of sale, the following described property located in the COU.~T¥ of Lincoln : ype of Recording Jurisdiction] [Name of Recording Jurisdiction] STAR VALLEY ~M~CH PLAT SIX (6), LOT SIX (6), AS PLATTED AND RECORDED IN THE OFFICIAL RECORDS OF LINCOLN COUNTY, WYOMING'. Parcel ID Numbe which currently has the address of 807 VISTA WEST DRIVE, [Street] TH ~.YNE [City] , Wyoming $ 312 7 [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, an, fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by thi: Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWEI COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mort~:age, 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 deman(ts, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with li]nited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM ¢'.OVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall ply when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charggs and late charges due under the Note Borrower shall also pay funds for Escrow Items pursuant to Sectiqn 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. Howevei:, if any check or other instrument received by Lender as payment under the Note or this (~-6(WY) (0005) Pa~. 3 of ~5 Form 30Sl 1/01 O53 Security Instrument is returned to Lender unpaid, Lender may reqmre that any or all subsequent payments due under the Nole' and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) caih; (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, mstrumemality, 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 locatio~ as may be designated by Lender m accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. [.,ender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of ~ny rights hereunder or prejudice to its rights to refuse such payment or partial paYments in the future, but Len[der 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 unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does noI do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower.jif not applied earlier, such funds will be applied to the outstanding principal balance under the Note immedialely 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 perfr rming the covenants and agreements secured by this Security Instrument. 2. Applicatio ~ of Payments or Proceeds, Except as otherwise described in this Section 2, all payments accepted and appli,~'d by Lender shall be applied in the following order of priomy: (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 Payr lent in the order in which it became due. Any remaining amounts shall be applied first to late charges, secon~ to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Not~. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficiem amount ~o pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to tile r~ayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extentl that any excess exists after the payment is applied to the full payment of one or more Periodic PaymentsI such excess may be applied to any late charges due. Voluntary prepayments .shall be applied first to any[prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") 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 tl}~ Property; (b) leasehold payments 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 payal~le by Borrower to Lender in lieu of the payment' of Mortgage Insurance premiums in accordance with th, provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the t~rm of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. BOrrower shall prOmPtly furnish to Lender all notices of amounts to be paid under this Section. Borrower sh~ll pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all EscrOw Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at anry time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, ~hen and where payable, the amounts due for any Escrow Items for which payment of ~i~i,~-6(WY) (ooo5) Page 4 of ~s Form 3051 1/01 054 Funds has been ~aived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within ~, ~ch time period as Lender may require. Borrower's obligation to make such payments and to provide receip shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as ~ phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items di~ ctly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 lo repay to Lender any such amount. Lender may revoke the 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 are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RI!SPA Lender shall estimate the amount of Funds due on the basis of current data and reasonable estim res of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds hall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (includix g Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Len(ter 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 [ ermits Lender to make sUch a charge. Unless an agreement is made in writing or Applicable Law requires int¢ rest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the 1~ ands. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender si.all give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If ~.there is surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly paymems. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower s required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in ccordance with RESPA, but in no more than 12 monthly payments. Upon paym ~.nt in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Fm tds held by Lender. 4. Charges Liens. Borrower shall pay all taxes, assessments, charges, frees, and impositions attributable to th~ Property which can attain priority over this Security Instrument, leasehold payments or ground rents on tl Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these il ems are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower stall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agr,~es in writing to the payment of the obligation secured by the lien m a manner acceptable to Lender, but only To long as Borrower is performing such agreement; (b) con!,e_sts the lien in good faith by, or defends against e~forcement of the lien in, legal proceedings which in Lender s opinion operate to prevent the enforcement of th~ lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures frown the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 ,,i~i,,,l,: (--,~ ' (~-6(WY) (0005) Page 5 of'~5 Form 3051 1/01 days of the date 6n which that notice is g~ven, Borrower shall satisfy the lien or take one or more of the actions set forth alcove in this Section 4. Lender may [equire 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 I ' 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 b~maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lei~der requires pursuant to the preceding sentences can 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 BorroWer's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay,in connection with this Loan, either: (a) a one-time charge for flood~ zone determination, certification and t[acking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the Payment of any fees imposed by the F.~deral Emergency Management Agency in connection with the review of any flood zone determination resu [ting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lenrer's option and Borrower's expense. Lender is under no obligation to purchase any particular type or ~mount 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 uight provide greater or lesser coverage than was previously in effect. Borrower acknowledges tha: the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requelting payment. , All insuranc~ policies required by Lender and renewals of such policies shall be subject to Lender s right to disapprov~ such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or Es an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lenaer requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage ~lause and shall name Lender as mortgagee and/or as an additional loss payee. In the event t~f loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise .agree in writing, any insur.~nce proceeds, whether or not the underlying insurance was required by Lender, shall be Leapplied' to restoration. 1 or repair of the Property, if the restoration or repair is economically feasible and nders security Is not lessened. During such repair and restoration period, Lender shall have 'the right to hold such insuranc~ proceeds until Lender has had an opportunity to inspect such Propeity to ensure the work has been complete~ to Lender's satisfaction, provided that such inspection shall be undertaken Promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the ',~ork is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid Cn such 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 shall not be paid out of the instirance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to (~-6(WY) (0005) Page ~ o~5 Form 3051 1/01 the sums secure by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such: .surance proceeds shall be applied in the order provided for in Section 2. If Borrowe] abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matte rs. If Borrower does not respond within 30 days to a notice from Lender that the msurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borro'ver 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 thai the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupan Fy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60.days a[ter the execution of this Security Instrument and shall continue to occupy the Property as Borrower's print ipal 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 b,:yond Borrower's control. 7. Preserw tion, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage ar impair the Property, allow, the Property to deteriorate or commit waste on the Property. Whether or not 13 orrower is residing in the Property, Borrower shall maintain the Property in order to pre~,ent the Property fron~ deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that rer air or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to ave d further deterioration or damage. If insurance or condemnation proceeds are paid in connection with :lamage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Prol~erty only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the rePairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not r ~lieved of Borrower's obligation for the completion of such repair or restoration Lender or ts 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 t the time of or prior to such an interior inspection specifying such reasonable cause 8. Borrowe "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 ma:emily false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender x~ ith material information) in connection with the Loan. Material representations include, but are not limited to representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protectio ~ of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fail~ to perform the covenants and agreements contained in this Security Instrument, (b) there ~s a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrum,',nt (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of t lien which may attain priority over this Security Instrument or to enforce laws or regulations), or :) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or al propriate to protect Lender's interest in the Property and rights under this Security Instrument, inclu ling protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Len, ler's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority ov~r this Security Instrument; (b) appearing in court; and (c) paying reasonable Initials: (~(~'8(WY) (0005) Paga 7 of 15 Form 3051 1/01 057 attorneys' fees to t rotect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender z hay take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under tt' is Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Sc curity Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from 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 acquit[es fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the mergqr in writing.. 10. Mortgag~ Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pa3~ the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insu[ance 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 premiu~ns for Mortgage Insurance, Borrower shall pay the premiums required to obtain Coverage substantially equi,v,t!ent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borro,qer of the Mortgag~ Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to l.ender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of W, ortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimat~.ly paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserv.-. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtaine :l, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lend ;r required Mortgage Insurance as a condition of making the Loan and Borrower was required to make :eparately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premi Jms required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower end Lender providing for su_c!] termination or until termination is required by Applicable Law. Nothing in thls Section 10 affects Borrower s obligation to pay interest at the rate provided in the Note. · Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may recur if Borrower d~)es not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and ma ente. r into ag.reeme,~t.s witl}, other parties that share or modify their risk, or reduce losses. These agreements a~ on terms and condilions mat are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These.~greements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance 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 (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for. sharing or mod!lying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender lakes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "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. ~J~l~'6twv) (0005) ~'ageOo, lS Form 3051 1/01 (b) Any st :h agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insur:mce under the Homeowners Protection Act of 1998 or any other law. These rights may include the rigl~t to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insure nee premiums that were unearned at the thne of such cancellation or termination. 11. Assignlnent of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and sllall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repatr of the Property, if the ~storation or repair is economically feasible and Lender's security is not lessened. During such repair and 'estoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had a opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, prov: deal that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a s:ngle disbursement or in a series of progress payments as the work is completed. Unless an agreement is mad ~ in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not l~e required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or rel~air is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. in the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied t, the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borr~ ~ver. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Prop ~rty immediately before the partial taking, destruction, or loss in value ;s equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or lo~, s in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrum~,,nt shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fractio~: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value ~ ivided by (b) the fair market value of the Property immediately before the partial taking, destruction, or los s in value. Any balance shall be paid to Borrower. In 'the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Prol~erty immediately before the partial taking, destruction, or loss in value is less than the amount of the stems secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Leader otherwise agree m writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Se ~urity Instrument whether or not the sums are then due. If the Propei'ty is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next semence) offers to make an award to settle a claim for damages, Borrower fails to respond to Leltder within 30 days after the date the notice is gtven, Lender is authorized to collect and apply the Miscell~ neous Proceeds either to restoration or repatr of the Property or to the sums secured by this Security Instrumeat, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Pr~,ceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower si all be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgme~ ~, could result in forfeiture of the Property or other material ~mpatrment of Lender's interest in the Property o~ rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, rehtstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in L~nder's judgment, precludes forfeiture of the Property or other material ~mpairment of Lemder's interest n the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that ~re attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid Lender. All Miscella ~eous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provi [ed for in Section 2. Initia'~s: · I~-6(WY) (goos) Page 9 of 15 Form 3051 1/01 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modifi:ation of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or ani~ Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interc..st of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secure d by this Security Instrument by reason of any demand made by the original Borrower or any Successors i~ Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's a¢cep[ance 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 rig ~r or remedy 13. Joint ant Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrmeer's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co~signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property raider the terms of this Security Instrumen L; (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 Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligalions and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20! and benefit the successors and assigns of Lender. 14.' Loan C]~arges. 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 Instrumen;, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any othe~ fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall Lot be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly 1 rohibited by this Security Instrument or by Applicable Law. If the Loan i~ subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest o~ other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, th, m: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted lixait; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by ma king a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or nm 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 wa ~ver of any right of action Borrower might have arising out of such overcharge. 15. Notices, Z J1 notices given by Borrower 0-r 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 Bor]ower when mailed by first class mail or when actually delivered to Borrower's notice address if sent bY ,)ther means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law e::pressly requires otherwise. The notice address shall be the'Property Address unless Borrower has desil:nated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrowe:"s change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by deliveting it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated anot ~er address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrufl~ent is also required under Applicable Law, the Applicable Law requirem~ht will satisfy the corresponding requirement under this Security Instrument. (~-6(WY) (goos) . Page lo of 15 FOrm 3051 1/01 06O 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law a~d the laTM of the jurisdiction in which the Property is located. All rights and obligations contained in this[ S. ecurity Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law ~ight explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence sha~ not be construed as a prohibition against agreement by contract. In the event that any provision or claule of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other l~rovisions of this Security Instrument or the Note wlfich can be given effect without the conflicting provisl on. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding heater words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrow~ r's Copy. Borrower shall be gwen one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Pxoperty" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial ir terests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the int :nt 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 pets ,n and a b. eneficial interest in Borrower is sold or transferred) without Lender s prior written consent, Lender nay reqmre immediate payment in full of all sums secured by this Security Instrument. However, this op .on shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender :ercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period ~f not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to th~ expiration of this period, Lender may invoke any remedies permitted by this Security Instrument withot: further notice or demand on Borrower 19. Borrov er's Right to Reinstate After Acceleration, If Borrower meets certain conditions, Borrower shall h~ve the right 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 Instrume at; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgmen~t 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 acceleratio~ had occurred; (b) cures any default of any other covenants or agreements; (c) pays al! expenses incurre~ 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 protecting Lender s interest in the P.r~perty and rights under, this Security Instrument; and (d) takes such action as Lender may reasonably requir~ to assure that Lender s interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may requi re that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, rovided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. Howev~.r, this right to reinstate shall not apply in the case of accelerauon under Section 18. 20, Sale of ]qote; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together wi h this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments du~ ~under the N~te and this Security Instrument and performs other mortgage loan servicing obligations under the Note, tJtis Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer un~elated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written not,ce of the change which will state the name and address of the new Loan Servicer, the address to which ~ayments should be made and any other information RESPA reqmres in connection with a I~)~-6(WY) (0005) Paga ~ ot ~s Form 3051 1/01 notice of transfer oI servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the. purchaser of the Note, the mortgage 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 Borrt~wer 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 ~[lleges that the other party has breached any provision of, or any duty owed by reason of t' [ his Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with th; requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period ~ fter the giving of such notice to take corrective action. If Applicable Law provides a time Period which must ~lapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of thi: paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and :he notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice a]d opportunity to take corrective action provisions of this Section 20. 21. Hazardo~s Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substanct:s: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides hnd herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental La, v" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety o] environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition mt can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower sh~ 1 not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or thr¢ tten to release any Hazardous Substances, on or m the Property. Borrower shall not do, nor allow anyone {lse to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which crc ares an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substam e, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized m be appropriate to normal residential uses and to maintenance of the Property (includ rog, but not limited to, hazardous substances in consumer products). Borrower sh~ promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by anlr governmental or regulatory agency or private party involving the Property 'and any Hazardous Substar.ce or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Con:lition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Ha2ardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substanc which adversely affects the value of the Property If Borrower learns, or is notified by any governmental c regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substanc affecting the Property ~s necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. (0005) Page 12 o115 Form 3051 1/01 NON-UNIF¢ ~,M COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceler; tion; Remedies. Lender shall 'give notice to Borrower prior to acceleration following BOrrower's bre~ :h of any covenant or agreement in this Security Instrument (but not prior to acceleration und~ r Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) t ~e action required to cure the default; (c) a date, not less than 30 days from the date the notice is give to Borrower, by which the default must be cured; and (d) that failure to cure the d ' efault on or be~re the date specified in the notice may result in acceleration of the sums secured by this Security Iuslrument and sale of the Property. The notice shall further inform Borrower of the right to reinstateJ,after acceleration and the right to bring a court action to assert the non-existence of a default or any olher defense of Borrower to acceleration and sale. If the default is not cured on or befOre the date s Decified in the notice, Lender at its option may reqnire immediate payment in full of all sums secured by this S$curity Instrument without further demand and may ihvoke the power of sale and any otl~er 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 attorn ays' fees and costs of title evidence. If Lender i~ yokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the persr n in possession of the Property, if different, in accordance with Applicable Law. Lender shall giw 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 des] gnee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (10 to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally en titled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instmme:n. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Sect.rity Instrument, but only 'if the fee is paid to a third party for servmes rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers, Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. (~=6(WY) (o005) Page 13 ot 15 Form 30-~1 1/01 BY SIGNIN~ BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: CHAD A KLIGORA -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower :Borrower (Seal) (Seal) -Borrower -Borrower (~6(WY) (0005) -' Page 14 of 15 Form 3051 1/01 STATE OF WYOMING, Teton County ss: The forego~g instrument was acknowledged before me this January 3 2002 by Chad A IKligora ' (~-6(WY) (0005) Paoe ~5of ~s Form 3051 1/01 0000839620 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 3rd day of January 2002 , and is incorporated into and shall ~e deemed to amend and supplement the Mortgage, Deed of Tm, st, or Sec_u,,rity Deed (the 'tSecurity Instrument ') of the same date,', given by the undersigned (the Borrower ) to secure )]orrowers Note to National City Mortgage Co dba Commonwealth United Mortgage Company (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 807 VISTA WEST DRIVE, THAY1TE, Wyoming 83127 [Propeny Address] The Property includes, but is not limited to, a parcel of land improved with a dwellin ,~, together with other such parcels and certain common areas and facilities, as described in (the "Declaration"). The Property ~s a part of a planned unit development known as STAR VALLEY RANCH [Name of Planned Unit Development] (the "PUD"). The Property also includes Borrower's interest in the homeowners ass~,ciation or equivalent entity owxm~g or managing the common areas and facilities of the PUD (the "Owners a, ssociation") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Borrower's obligation; under the PUD's Constituent Documents. The "Constituent Documents" are the (i) Declaration; (ii) attic:les of incorporation, trust instrument or any equivalent document which creates the Owners Association; an~ (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments imposed yursuant to the Constituent Documents. MULTISTATE PUD RIDER -Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUI~ENT Page 1 of 3 Initial s; ~ I~7R (0008) VMP MORTGAGE FORMS - (800)521-7291 Form 3150 1/01 B. Property Insurance. So long as the Owners Association maintains, with a~: generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against lo'ss 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, then: 0) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the Yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association Policy. What Lender requires as a condition of this waiver can change during the term of thq loan. Borrower shall give Lender prompt notice of any lapse in required property/insurance coverage provided by the master or blanket policy. [ In the event of a distribution of property insurance proceeds in lieu of restoration c r repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payalde to Borrower are hereby assigned and shall be. paid to Lender. Lender shall apply the proceeds to the s'n~ns secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonal.le to insure that the Owners Association maintains a public liability insurance policy acceptable in form, an'ount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or cmtsequential, payable to Borrower in coxmection with any condemnation or other taking of all or any part of the.Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section I 1. E, Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandonme ~t or termination of the PUD, except for abandonment or termination required by law in the case of substantia destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" if the provision is for the express bene:it of Lender; (iii) termination of professional management and assumption of self-management of the Owz ers Association; or (iv) any action which would have the effect of rendering the public liability insurance cove rage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due. th ~,n Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terne of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be pa ~able, with interest, upon notice from Lender to Borrower requesting payment. nitials: ~i~,~7R (0008) Page 2 of 3 Form 3150 1/01 067 BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider. -Borrower CI{AD A KLIGORA -Borrower · (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (~I~7R (0008) Page 3 of 3 Form 3150 1/01