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HomeMy WebLinkAbout897989#30238(02) A~errecordingpleasereturnto: OHIO SAVINGS BANK ATIN: IX)CZIvlEB~CONTROL {Company Name] 89'/989 RECEIVED 'LINCOLN COUNTY CLERK DhH R23 PI 12:18 JEANNE V.,/AGN ER {Name of Natural Person] 1111 CI-IESTER AVE {Street Address] CLEVELAND, OH 44114 [City, Stata Zip Code] [Space Above This Line For Recording Data] DEFINITIONS MORTGAGE MIN 100162500075419979 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 roles regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated together with all Riders to this document. March 18, 2004 (B) "Borrower" is PATRICIA R. NYRE, A SINt-~,E W(Iqb3l Borrower is the mortgagor under this Security Instntment. (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. MERS is the mortgagee under this Secmity Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone nntnber of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is OHIO SAViNGs 'BgNK Lender is a Federal Savings Bank 'IHE UNITED STATES OF AMERICA . Lender's address is . SUITE 200, CI,~, OH 44114 LOAN NUMBER: 7541997 organized and existing tinder the laws of 1801 EAS~ NINTH S-WREE-T Wyondng Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT --TILE COMPLIANCE SOURCE, INC.-- Page 1 of 14 ...... pli ..... ~ ...... J[[llllllllllllllllllllllllllllllllllllll MERS Modilied Form 3051 01/01 ~43o~wY os/0o 1~2000. The Comphance Source. In~. 0S97989 o (E) "Note" means the promissory note signed by Borrower and dated March 18, 2004 The Note states that Borrower owes Lender .qeve_nt¥ nine thousand three hundred and NO/100ths Dollars (U.S. $ 79,300.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in fidl not laterthan April 1, 2019 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due trader this Security [nstnm~ent, plus interest. "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [ci~eck box as applicable]: [] AdjUstable Rate Rider [] Condomilfium Rider [] Second Home Rider [] Balloon Rider [] Plam~ed Unit Development Rider [] Biweekly Payment Rider [] 1-4 Family Rider [] Revocable Trust Rider [] Other(s) [specify] (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative niles and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowuers association or sinfilar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transactiou originated by check, draft, or sinfilar paper instnm~ent, which is initiated through an electronic terminal, telephonic instrument, cmnputer, or magnetic tape so as to order, instruct, or attthorize a finmxcial institution to debit or credit an account Such term include% but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. 0VI) "Miscellaneous Proceeds" means any. compensation, settlement, award 'of damages, or proceeds paid by any tlfird party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condenmation or other taking of all or any part of the Property; (iii) com, eyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against.the nonpayment of, or default on, the' Loan. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest tinder the Note, plus (ii) any amounts tinder Section 3 of tlfis Security Instmmeut. LOAN NUMBER: 7541997. Wyonthtg Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORM INSTRUMENT ~THE COMPLIANCE SOURCE, INC.-- Page 2 of 14 ..... ............ t iHllllllllllllllllllllllllll[lllllllll MERS Modified Form 3051 01/01 141fllWY 08100 ~2000. The Compliance Soutcco Inc. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. ~2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the stone subject matter. As used in fids Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that part3, has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instnunent secures to Lender: (i) the repayment of the Loan, and ,'ill renewals, extensmns and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under fids Security Instrument and the Note. For fids purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nonfinee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of LINCOLN : [Type of Recording Jurisdiction] {Name of Recording Jurisdiction] SEE ATI'AC~IED EXHIBIT A LEC4G~ DESCRIPTION which currently has the address of 251 I-IAREIVLh~ RD [Street] 214_AYIffE , Wyoming 83127 [City] fZip Codol ("Property Address"): TOGETHER WITH all the m~provements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instnunent. All of the foregoing is referred to in this Security Instrument as Om "Property." Borrower understands and agrees t/mt MERS holds tuffy legal title to the interests granted by Borrower in t/tis Security Instrmnent, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the fight: 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 including, but not limited tO, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the fight to mortgage, grant and convey the Property and that the Property is unencumbered, except for encmnbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. LOAN NUMBER: 7541997 Wyamh,g Mo~gage-Single Family-Famde Mae/Freddie Mac UNIFORM INSTRUMENT ~TI~ COMI~LIANCE SOURCE, INC.-- Page 3 of 14 ...... ............. I IHIilIH IIIll llllll Il Ill Ill Ii Ill Ii I MERS Modified Fonu 3051 01/01 14101WY o~100 ~2000. The Compliance THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a. uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note m~d any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instnunent received by Lender as payment under the Note or this Security Instnunent is returned to Lender unpaid, Lender may require that any or all subsequent payments due nnder 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; (c) certified check, bank check, treasurer's check or cashier's check, provided an), such check is drawn upon an institution whose deposits are insured by a federal agency, instnm~entality, or entity; or (d) Electronic Ftmds Transfer. Payments are deemed received by Lender when received at the location designated 'in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if file payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such pay~nent or partial payments in the future, but Lender is not obligated to apply such payments at rite 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 tmtil Borrower nmkes 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 tile outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower nfight have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perfornfing the covenants and agreements secured by this Security Instrument 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due tinder rite Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amotmts shall be applied first to late charges, second to any other ,'nnounts due trader this Security Instrument, and then to reduce the principal 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 payment may be applied to the delinqueut payment and rte late charge. If more than one Periodic Payntent is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. 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 rite Note is paid in full, a sum (the "Funds") lo provide for payment of amounts due for: (a) taxes and assessments mid other items which can attain priority over tiffs Security Instrmnent as a hen or encumbrance on the Property; (b) leasehold payments or ground rents on file Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance prenfiums, if any, or any sums payable by Borrower to Lender inlieu of the payanent of Mortgage htsurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origi~mtion or at any time during file term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, LOAN NUMBER: 7541997. Wyomh~g Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 4 of 14 ............. ifillUrlUlllJllifillil[lllllilillEI MERS Modified Fomu 3051 01/01 ~2000, The Compliaace Source. [no. 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 tiffs Section. Borrower shall pay Lender the Funds for Escrow Items Ulfless 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 any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when ,mad where payable, the mnounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing 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 ,'md agreement contained in this Security Instrument, as the phrase "covenant and agreentent" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the mnount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such alnount and Borrower sludl then be obligated under Section 9 to repay to Lender any such amount. Lender nmy 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, mid in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an mnount (a) sufficient to pernfit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximtmt amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of furore Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Fnnds, ammally analyzing the escrow accounL or verifying the Escrow Items, unless Leuder pays Borrower interest on the Funds and Applicable Law perxnits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on rite Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest slmll 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 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, bnt in uo more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make tip the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Secnrity Instnmient, Lender shall promptly refund to Borrower .any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all t,xxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over tiffs Security Instrument, leasehold payments or ground rents on the Property, if any, and Commtmity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the rammer provided in Section 3. Borrower slmll promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a nmnner acceptable to Lender, but only so long as Borrower is perfornfing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the e~fforcement of the lien while those proceedings are pending, but only unt/1 such proceedings are concluded; or (c) secures from the holder of tlte lien an agree~nent satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detemfines that any pm of the Property is subject to a lien which can attain priority over this Security Instrmnent, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which LOAN UMBER: 7541997. Wyon~h~g Mortgage-Single Family-Famfie Mae/Freddie Mac, UNIFORM INSTRUMENT --TIIE COMPLIANCE SOURCE. INC.-- Page 5 of 14 ...... ..... ...... I lllllllll Illllillllll Il IIllll IIIllllglll MERS Modilled Form 3051 01/01 ~4~o~,~' os/0o 02000. Tn~ Comphancc Source, ]no. fl~at notice is given, Borrower shall satisfy the lien or take one or more of the actions set fo~ above in Section 4. Lender may requ~e Bo~ower to pay a one-time cl~ge for a re~ estate tax ver~cation ~or repo~ng se~ice used by Lender in com~ection wifl~ ~s Lo~. 5. Prope~y Insurance. Bo~ower sh~l keep fl~e improvelnen~ now e~sting or here~ter erected on Prope~ inst~ed ag~nst loss by fire, ~z~ds included wiflfin fl~e te~ "extended coverage," ~d ~y other hazards including, but not limited to, e~q~es ~d floods, for which Lender requires insur~ce. ~fis insur~ce sh~l be maintained in fl~e amounts (inclu~ng deductible levels) ~d for tim periods t~t Lender requires. What Lender requires p~s~t to fl~e preceding sentences can ch~ge dung fl~e tem~ of the Loan. The insu~ce career providing fl~e ins~ce shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised u~easonably. Lender may require Borrower to pay, in co~ection wi~ tiffs Loa~ eider: (a) a one-time cringe for flood zone dete~nafion, certification ~d ~acking se~ices; or ~) a one-time ch~ge for flood zone dete~ination ~d ce~ificafion se~ices and subsequent ch~ges each time remappings or simil~ ch~ges occur which reasonably might ~ect such deternfinmion or ce~fication. Borrower shall also be responsible for ~e payment of any fees imposed by'the Federal Emergency Management Agency in co~ection Wi~ · e review of any flood zone detemfination resulting from ~ objection by Bo~ower. If Bo~ower fails to maintain ~y of the coverages described above, Lender may obtain insurance coverage, at Lender's option ~d Borrower's expense. Lender is under no obligation to purchase any pa~culm ~e or amount of coverage. Therefore, such coverage shall cover Lender, but might or nfight not protect Borrower, Borrower's equiW in ~e Prope~, or the coments of the Prope~, against any risk, h~d or liabiliW and ~ght provide greater or lesser coverage ~ was previously in effect. Bo~ower acknowledges that fl~e cost of the insur~ce coverage so obtained ~ght sig~ficantly exceed the cost of insurance that Borrower could lmve obtained. Any amounts disbursed by Lender under tiffs Section 5 shall becmne additioml debt of Borrower secured by this Secufi~ In~ment. ~ese amo~ts shal bern interest at ~e Note rote from fl~e ~te of disbursement ~d sMll be payable, with such imerest, upon notice from Lender to Bo~ower requesting paylnent. All insur~ce policies req~red by Lender ~d renewals of such policies sh~l be subject to Lender's fight to disapprove such policies, shall include a s~d~d m°rtgage clause, ~d shill ~e Lender as mortgagee ~Wor as an additional loss payee. Lender sh~l have &e fight to hold fl~e policies ~d renewal ce~ficates. If Lender requires, Bo~ower shill promptly give to Lender fll receipts of paid premiums m~d renewal notices. If Bo~ower obtains fom~ of instance coverage, not othenvise required by Lender, for damage to, or des~cfion of, the ProperS, such policy shall include a st~d mongage clause m~d sh~l ~me Lender as mo~gagee m~Wor as ~ additionfl loss payee. In ~e event of loss, Bo~0wer shall ~ve prompt notice to the inst~m~ce caffier ~d Lender. Lender may m~e Proof of loss if not made promptly by Bo~ower. Unless Lender ~d Bo~ower othe~ise agree in writing, any ~s~ce proceeds, .whether or not ~e underlying insurance was required by Lender, sh~l be applied to restoration or rep~r of the Prope~, if the restoration or rePair is econonfically feasible and Lender's se~uriW is not lessened. During such repair ~d restoration period, Lender slmll have fl~e fight to hold such'insur~ce proceeds until Lender has had m~ oppo~ni~ to inspect such Prope~ to enst~e fl~e work has been completed to Lender's satisfi~ction, provided tlmt such inspection sh~l be unde~aken promPtly. Lender may disburse proceeds for fl~e rep~rs ~d restoration in a single payment or in a series ofpro~ess payments as fl~e work is completed. Unless ~ a~eement is nmde in wfi~g or Applicable Law requires interest to be paid on such instance proceed% Lender shall not be required to pay Borrower any interest or eanfings on such proceeds. Fees for public adjusters, or other ~ird p~ies, retained by Borrower shall not be paid out of the insumce proceeds and shill be fl~e sole obligation of Borrower. fl~e restoration or repair is not economically feasible or Lender's securiW would be lessened, fl~e insur~ce proceeds sh~l be applied to ~e sums secured by this SecufiW Ins~m~em, whefl~er or not fl~en due, wi~ fl~e excess, if any, paid to Bo~ower. Such ins~ce proceeds sh~l be applied in fl~e orde~ provided for in Section 2. If Borrower abandons ~e Prope~, Lender may file, negotiate and settle any aVailable instance claim and related ma~ers. If Bo~ower does not respond witlfin 30 ~ys to a notice from Lender fl~at ~e insu~ce ca~er has DOANNUMBER: 7541997 · Wyoming Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORM INSTRUMENT --TI~ COM~LIANCE SOURCE, INC.-- Page 6 of 14 ...... ............. I lHllllfllllllllllllllllllllllIHli[ll MERS Modified Form 3051 01/01 14a~OlWY ilS/ilO 02000, The Compliance 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 eitl~er event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instnnnent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premimns 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 eitlier to repair or restore the Property or to pay amounts nnpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument mid shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably witld~eld, or unless extenuating circumstances exist which are beyond Bol-rower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, danmge or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall pronlptly repair the Property if damaged to avoid fimher deterioration or damage. If insurance or condenmation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower slmll be responsible for repairing or restoring file Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the instzrance or condemnation proceeds are not stffficient to repair or restore file Property, Borrower is not relieved of Borrower's obligation for the completi, on of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statentents to Lender (or failed to provide Lender with material i~fformation) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrun~ent, (b) there is a legal proceeding tlmt might significantly affect Lender's interest in the Property and/or rights under fids Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to mfforce laws or regulations), or (c) Borrower has abandoned rite Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing fl~e value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over tiffs Security Insmnnent; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its iuterest 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 linfited to, entering the Property to make repairs, clmnge locks, replace or board up doors and windows, drain water from pipes, elhninate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not m~der any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. LOAN NUMBER: 7541997 Wyonfing Mortgage-Single Family-Famfle Mae/Freddie Mac UNIFORM INSTRUMENT --THE COI~LIANCE SOURCE, INC.-- Page 7 of 14 .... mpli ............. I I lli[llllfll]lfilllJll[lllllllllllll li MERS Modified Form 3051 01/01 t~*oiwY 0gt00 02000, Thc Compl/ancc Source. hie. Any amounts disbursed by Lender under fids Section 9 shall become additional debt of Borrower secured by this Security Instrnment. These amounts shall bear interest at the Note rate frmn 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 acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition Of making the Loan, Borrower slmll pay the prenfiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such inslmmce and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shah pay the premiums 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, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the ,'unount 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 Mortgage Insurance. Such loss reserve shall b6 non-refundable, notwithstanding the fact that the Loan is ultinmtely paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. 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 obtained, and Lender requires separately designated payments toward the prenfiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward file premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends iu accordance wifl~ any written agreement between Borrower and Lender providing for such temfination or until termination is required by Applicable Law. · Nothing in this Section 10 affects Borrower's obligation to pa), interest at the 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 Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other part/es that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and rite other party (or parties) to these agreements. These agreements 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 modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the prenfiums 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 roi' Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosm'es, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. LOAN NUMBER: 7541997. Wyomh~g Mortgage-Single Family-Famfle Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 8 of 14 ..... ........ I lllllllllllfllllll lll llllElllllllll MERS Modilled Fomu 3051 01/01 14lOlW¥ 08100 ~2000, Thc Complia~c Source, lno. 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 Property, if the restoration or repmr is economically feasible and Lender's security is not lessened. During such repmr and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless ,an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shallnot be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the stuns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instminent, xvhether or not then due, with the excess, if any, paid to Borrower. In fl~e event of a partial taking, destruction, or loss in value of the Property in which the fair umrket value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amotmt of the sums secured by tiffs Security Instnm~ent inm~ediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds nmltiplied by the following fraction: (a) the total amount of the sums secured inm~ediately 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 taking, 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 the sums secured inunediately before the pm-tial.taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by tiffs Security Instrument whether or not the sun, s are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender witlfin 30 days after the date the notice is given, Lender is anthorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the stuns secured by this Security Instrument, whether or not then due. "Opposing Party" ~neans the tldrd party that owes Borrower Miscellaneous Proceeds or fl~e party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or crinfinal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instmmem. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dis~nissed with a ruling that, in Lender's judgnnent~ precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instnm~ent. The proceeds of any award or claim for danmges that are attributable to the impairu~ent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or 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 Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of I_DAN NUMBER: 7541997 . Wyoming Mortgage-Single Family-F:nude Mae/Freddie Mac UNIFORM INSTRUMENT --T~LE COMPLIANCE SOURCE, INC.-- Page 9 of 14 ...... ............ I llllllllllllllllllllllllllllilllllll MERS Modified Form 3051 01/01 14]§IWY 08100 ~2000, The Compliance Source, In~. 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 the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without linfitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in mnounts less than the amount then due, shall not be a waiver of or preclude the exercise of m~y right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-sxgns this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing tlfis Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of lids Security Instrmnent; (b) is not personally obligated to pay the sums secured by rids 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 tltis 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 fids Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instnunent unless Lender agrees to such release in writing. The covenants and agreements of tiffs Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Cbarges. Lender may charge Borrower fees for services performed in co~mection with Borrower's defanlt, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of eXPress authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets' maximum loan charges, and that law is finally interpre(ed so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pernfitted linfits, then: (a) any such loan charge shall be reduced by the amount necessat3, to reduce the charge to the permitted linfit; and (b) m~y sums already collected from Borrower which exceeded permitted linfits 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 principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in cmmection with this Security Instnnnent must be in writing. Any notice to Borrower in counection with tltis Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly. requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall Promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There ma), be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class m,'fil to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Amy notice in connection with this Security Instrument shall not be deemed to have been given to Lender tmtil actually received by Lender. If auy notice required by this Security Insmm~ent is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; RUles of Construction. This Security Instnunent shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained LOAN NUMBER: 7541997. Wyondng Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORNI INSTRUMENT --TI~E COMPLIANCE SOURCE, INC.-- Page 10 of 14 .... IIlllfflllllfl[llllllllllllllll[llll[l[ MERS Modilied Form 3051 01/01 14~01w3/08100 ~D2000. Tile Compliance Source. Ina. in this Security Instrmnent ,are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the eveut that ,'my provision or clause of this Security Instrument or the Note Conflicts with Applicable Law, such conflict shall not ,affect or. her provisions of this Security Instrument or the Note which can be given effect without the conflicting provision; As used in tiffs Security Instrument: (a)words of the nmsculine gender shall mean and include corresponding neuter words or words of the fenfinine 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. Borroffer's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not linfited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agremnent, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordahce with Section 15 within which Borrower must pay all stuns secured by this Security Insmnnent. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instnnnent without further notice or demand on Borrower. 19. Borrower's Right t0 Reinstate After Acceleration. If Borrower meets certain conditions, 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 ternfination of Borrower's right to reinstate; or (c) entry of a judgmem enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights Under this Security Instnnnent; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instnm~ent, ,'md Borrower's obligation to Pay the sums secured by this Security Instrument, shall continue nnchanged. Lender may require that Borrower pay such reinstatement stm~s and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bmtk check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby Shall remain fully effective as if no acceleration had occurred. However, this fight to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Se~wicer; Notice of Grievance. The Note or a partial interest in the Note (together with tlds Security Instrument) can be sold one or xnore times without prior notice to Borrower. A sale nfight result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, fids Security Insmm~ent, and Applicable Law. There also might be one or more chm~ges 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 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 m~y other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing LOAN NUMBER: 7541997 Wyontlng Mortgage-Single Family-Famfie Mae/Freddie Mae UNIFORM INSTRUMENT THE COM]PLIANCE SOURCE, INC.-- Page 11 of 14 ...... = ..... = I IIIlllIIII]IIlIIIIIIIIEilII[Illllll MERS Modified Form 3051 01/01 14301WY 08/OO ~2000, Thc Compliance Sotuce. Inc. obligations to Borrower will renmin 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 com~nence, join, or be joined to any judicial action (as either an individual litigant or the 2nember of a class) that arises from the other party's actions pursuant to this Security Instrunient or that alleges that the other part), has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which nmst elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph.. The notice of acceleration 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 opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in fids Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flmnmable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fornmldehyde, and radioactive materials; (b) "Enviromnental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c)"Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, ~a) which creates an Environmental Condition, or (c) which, due to the presence, Use, or release of a Hazardous Substance, creates a condition that adversely ,'fffects 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 to be appropriate to normal residential uses and to mainteuance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental Or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law Of which Borrower has actual knowledge, (b) any Environmental Condition, including but not linfited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govermnental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental L.aw. Nothing herein shail create any obligation on Lender for an Envirmmxental Clemmp. NON-UNIFORM COVENANTS. Borrower and Lender fi~rtlier covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breacli of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days fi'om the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-exiStence of a default or any other defense of Borrower to acceleration and sale. Il' the default is not cra'ed on or before tlie date specified in the notice, Lender at its LOAN NUMBER: 7541997. Wyomh~g Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT --THlg COMPLIANCE SOURCE, INC.-- Page 12 of 14 ..... ,. ............. I lllllllllflllllllllllllllllli[llll[l MERS Modified Fort. 3051 01/01 ~20o0. The Compliance Source. Inc. option may require immediate payment in full of all sums secured by this Security Instrument ~vitliout fm'ther demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing tlie remedies provided in this Section 22, including, but not limited to, reasonable attorneys' tees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property .shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this SeCUrity Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing fids Security Instnm~ent, but only if the fee is paid to a flfird party for services rendered and tim charging of the fee is permitted m~der Applicable Law. 24. Waivers. Borrower releases and waives all riglits under and by virtue of the homestead exemption laws of Wyonfing. BY SIGNING 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: Printed Na,ne:'~T'~'/d / ~ /~, MVa~ [Please Complete] P/~TRICIA R NYRE" (Seal) -Borrower (Seal) -Borrower Printed Name: [Please Complete] (Seal) -Borrower [Acknowledgment on Following Page] (Seal) -Borrower LOAN NUMBER: 7541997 Wyonfing Mot/gage-Single Family-Famfle Mae/Freddie ~{.ac UNI. FOI~'I INSTRUMENT MERS Modilied Fonn 3051 0i/01 --THE COh{PLIANCE SOURCE, ]NC.-- Page 13 ofl4 I llllllllll[lll llllllllllllllllli[ill 14301~,VY 08~00 {32000, The Compliance Source. Ino. State of Wyoming ~ CounW of Te ton ~ Before me the undersigned authority, on this day personally appeared PATRICIA R NYRE known to me (or proved to me through an identity card or other document) to be the person(s) whose name is subscribed to the foregoing instalment, and acknowledged to me that he/she/they · executed the same for rite purposes and consideration therein expressed. Given under my hand and seal on this 18th dayof March, , 2004 Seal Notary Public My Commission Expires: 9-15-07 LOAN NUMBER: 7541997 Wyoming Mortgage-Single Family-Famfie MaefFreddie Mac UNIFOP~! INSTRUMENT --TItE COMPLIANCE SOURCE, INC.-- Page 14 of 14 ..... ........... [lllllll[I MERS Modified Form 3051 01/01 14$OlVYY OS/OO ~2OO0, Thc Comphaacc Source. lno. PLANNED.UNIT DEVELOPMENT RIDER MIN: 100162500075419979 THIS PLANNED UNIT DEVELOPMENT RIDER is made this 18th day of March 2004 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "SecUrity Instrument") of the same date, given by the undersigned (the "Borrower") to secure Borrower's Note to OHIO S~VINGS BgAIK (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 251 HARII'VF~ RD, THAYNE, WY 83127 [Property Address] The Property includes, but is not limited to, a Parcel of land improved with a dwelling, together with other snch parcels and certain common areas and facilities, as described in Declaration of Covenants, Conditions, and Restrictions of Record (the "Declaration"). The Property is a part of a planned unit development known as STAR V-AT ,T,I~ RANCH [Name of Planned Unit Development] (the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners Association") 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 obligations under the PUD's Constituent Documents. The "Constituent Documents" are the (i) Declaration; (ii) articles of incorporation, trust instrument or any equivalent document which creates the Owners Association; 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. 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 loss by fire, LOAN NUMBS: 7541997 Initials: Multistate PUD Rider. -- Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page I of 3 ww w COlnpliance~ource. com Form 3150 01/01 ©2000, The Complimlc¢ Source. Inc. hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, for wlfich Lender requires insurance, then: (i) 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 5to 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 the 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 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 then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condenmation 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 tbe sums secured by the Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: ' (i) the abandonment or termination of the PUD, except for abandonment or termination required by law in.the case of substantial 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 benefit 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 maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from' the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. LDbZI' NE31VlBER: 7541997 Initials: .('~ Mulfistate PUD Rider-- Single Family --Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3150 01/01 --THE COMPLIANCE SOURCE, INC,-- www. compliancesource eom Page 2 of 3 14501MU 08/00 (02000, The Compliance Source. Inc. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider. PATRICI~ R NYRE (~ -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower LOAN NUMBER: 7541997 Mulfistate PUD Rider-- Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 3 o f 3 I lllllllllllillll[lllllllllllllllllllllllllllillllllglll:llllI Form 3150 01/01 J 4501 P,l[I 08/00 ©2000. Thc Compliance Source.' EXHIBIT "A" Lot 100 in Star Valley Ranch Plat 17 as pl'atted and recorded in the Official records of Lincoln County, Wyoming.