HomeMy WebLinkAbout89942130290 (01)
899U21
RECEIVED
,LIhlOOLI'",I OOUhFI"f CLERK
t1~',.'~ I 9 ~.~,, -
State of Wyoming
· ]Space Above This Lh~e For Recording Data]
MORTGAGE
FHA Case N°.
591-0949340 703
THIS MORTGAGE ("Security Instrument") is given on MAY :1.3,
The Mortgagor is LZSA A GUSTAFSON, 8. siY~le ~
20O4
("Borrower"). This Security Instrument is given to WELLS
FARGO BANK, N.A.
which is organized and existing under the laws of THE UNITED STATES , and
whose address is P.O. BOX 10304, DES MOZHES, ZA 503060306
("Lender"). Borrower owes Lender the principal sum of
ONE /'Uu-NDRED FORTY THREE THOUSAND TWO HUNDRED SIXTEEN AND 00/100
Dollars (U.S. $********'143,216.00 ).
This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which
provides for monthly payments, with the full debt, if not paid earlier, due and payable on 3ul'~ 0:1., 2034
· This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the
Note, with interest, and 'all renewals; extensions and modii]cations of the Note; (b) the payment of all other sums,
with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance
0039025572
FHA Wyonfing Mortgage - 4/96
11~4RIWY)
VMP MORTGAGE FORMS-
Page 1 of 8
818
of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
does hereby mortgage, grant and convey to the Lender with power of sale, the following described property located
in LINCOLN County, Wyonfing:
LOT 115 STAR VALLEY RANCH PLAT 6, AS PLATTED AND RECORDED IN THE OFFICIAL
RECORDS OF L NCOL COm Y, OMI G.
*SEE ADJUSTABLE RATE RIDER
TAX STATEMENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, P.O. BOX 10304,
DES MOINES, IA 503060304
which has the address of 97 FIR PLACE, THAYlq'E [Street, City],
Wyoming 83127 [Zip Code] ("Property Address");
TOGETHER WITH all the improvements 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 Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
encumbrances of record.
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.
Borrower and Lender covenant and agree as follows:
UNIFORM COVENANTS.
1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and
interest on, the debt evidenced by the Note and late charges due under the Note.
2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly
payment, together with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and
special assessments levied or to be levied against the Property, (b)leasehold payments or ground rents on the
Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a
mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in
which such premium would have been required if Lender still held the Security Instrument, each ~nonthly payment
shall also include either: (i) a sum for the annual mortgage insurance prenfium to be paid by Lender to the Secretary,
or (ii) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary,
in a reasonable amount to be detemfined by the Secretary. Except tbr the monthly charge by the Secretary, these
items are called "Escrow ItemS" and the sums paid to Lender are called "Escrow Funds."
Lender may, at any time, collect and hold an~ounts for Escrow Items in an aggregate amount not to exceed the
maximum amount that may be required tbr Borrower's escrow account under the Real Estate Settlement Procedures
Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they nmy be
amended from time to time ("RESPA"), except'that the cushion or reserve permitted by RESPA for unanticipated
disbursements or disbursements betbre the Borrower's payments are available, in the account may not be based on
amounts due for the mortgage insurance premium.
(~4RlWY) m6o4).o~
Page 2 of 8
Initiels:~
810
0M994 1
If the amounts held by Lender for Escrow Iteins exceed the amounts pernfitted to be held by RESPA, Lender
shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any
time are not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to
make up the shortage as permitted by RESPA/
The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If
Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance
remaining for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has
not become obligated to pay to the Secretary, and Lender shall promptly refund any excess funds to Borrower.
Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be
credited with any balance remaining for all installments for items (a), (b), and (c).
3. Application of Payments. All payments under paragraphs I and 2 shall be applied by Lender as follows:
First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by
Secretary instead of the monthly mortgage insurance premium;
Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
insurance premiums, as required:
Third, to interest due under the Note;
Fourth, to amortization of the principal of the Note; and
Fifth, to late charges due under the Note.
,4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether
now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which
Lender requires insurance. This insurance shall be maintained in the an~ounts and for the periods that Lender
requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently
erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies
approved by Lender. The insurance policies and any renewals shall be held by Lender and shall include loss payable
clauses in favor of, and in a form acceptable to, Lender.
In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not
made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment
for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance
proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and
this Security Instrument, first to any delinquent amounts applied in the order in paragraph 3, and then to prepayment
of principal, or (b) to the restoration or repair of the damaged Property. Any application of the proceeds to the
principal shall not extend or postpone the due date of the monthly payments which are rel'erred to in paragraph 2, or
change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding
indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes
the indebtedness, 'all right, title and interest of Borrower in and to insurance policies in force shall pass to the
purchaser. '
5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan' Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty
days after the execution of this Security Instrument (or within sixty days of a later sale or transfer of the Property)
and shall continue to occupy the Property as Borrower's principal residence /'or at least one year after the date of
occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless extenuating
circumstances exist which are beyond Borrower's control. Borrower shall notify Lender of any extenuating
circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the
Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant
or abandoned or the loan is ,in default. Lender may take reasonable action to protect and preserve such vacant or
(~4R(WY) 19604).01 Page 3 o¢ 8
Initials
abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave
materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material
information) in connection with the loan evidenced by the Note, including, but not limited to, representations
concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the
leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.
6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation or other taking 'of any part of the Property, or for conveyance in place of condemnation, are
hereby assigned and shall be paid tl Lender to the extent of the full amount of the indebtedness that remains unpaid
under' the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness
under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in
paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or
postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such
payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this
Security Instrument shall be paid to the entity legally entitled thereto.
7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay
these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts
evidencing these payments.
If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other
covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly
affect Lender's rights in the Property (such as a proceeding in bankruptcy, tbr condenmation or to entbrce laws or
regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.
Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be
secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate,
and at the option of Lender, shall be immediately due and payable.
Borrower shall 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 manner acceptable to Lender; (b)
contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower
a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within
10 days of the giving of notice.
8. Fees'. Lender may collect fees and charges authorized by the Secretary
9, Grounds for Acceleration of Debt.
(a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment
defaults, require immediate payment in full of all sums secured by this Security Instrument if:
(i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument
prior to or on the due date of the next monthly payment, or
(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained
in this Security Instrument.
(b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d)
of the Garn-st. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument
if:
(~4R(WY)
Page 4 gl B
InitialS~
821
(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold
or otherwise transferred (other than by devise or descent), and
(ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the
purchaser or grantee does so occupy the Property but his or her credit has not been approved in
accordance with the requirements of the Secretary.
(c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but
Lender does not require such payments, Lender does not watve its rights with respect to subsequent events.
(d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit
Lender's rights, in the case of paymem defaults, to require immediate payment in full and foreclose if not
paid. This Security Instmmenl does not authorize acceleration or foreclosure if not permitted by regulations
of the Secretary.
(e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined
Io be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender
may, at its option, require immediate payment in full of all sums secured by this Security Instrument. A
written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof,
declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such
ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the
unavailability of insurance is solely due to Lender's thilure to remit a mortgage insurance premium to the
Secretary.
10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full
because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies
even after foreclosure proceedings are instituted To reinstate the Security Instrument, Borrower shall tender in a
lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of
Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' lees and expenses
properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and
the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full.
However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the
commencement of foreclosure proceedings within two years immediately preceding the commencement of a current
foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii)
reinstatement will adversely affect the priority of the lien created by this Security Instrument.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or
modification of amortization of the sums secured by this Security Instrumem granted by Lender to any successor in
interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in
interest. Lender shall not be required to commence proceedings against any successor in interest or 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 Borrower's successors in interest. Any forbearance by Lender in exercising
any right or remedy shall not be a w~iiver of or preclude the exercise of any right or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers, The covenants and agreements
of this Security Instrument shall bind and benefit the successors and assigns of l.ender and Borrower, subject to the
provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who
co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instru~nent only to
mortgage, grant and convey that Borrower's interest in the Property under the terins of this Security Instrument; (b)
is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any
other Borrower may agree to 'extend, modify, forbear or make any accommodations with regard to the terms of this
Security Instrument or the Note without that Borrower's consent.
(~4R(WY) 196o41.o~ Page 5 of 8
Initial
822
13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or
by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to
the Property Address or any other .address Borrower designates by notice to Lender. Any notice to Lender shall be
given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower.
'Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when
given as provided in this paragraph.
14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of
the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument.
or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or
the Note which can be given effect without the conflicting provision. To this end the provisions of this Security
Instrument and the Note are declared to be severable.
15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security
Instrument. ·
16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release
of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything
affecting the Property that is in violation of any Environmental Law. 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 maintenance of the Property.
Borrower shall promptly give Lender written notice of 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. If Borrower learns, or is notified by any governmental
or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is
necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous
substances by Environmental Lag' and the following substances: gasoline, kerosene, other flammable or toxic
petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the
jurisdiction where the Property is located that relate to health, safety or environmental protection.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues
of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and 'revenues and hereby directs
each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to
Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and
receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assigmnent of
rents constitutes an absolute assignment and not an assignment for additional security only.
If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as
trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be
entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents
due and unpaid to Lender or Lender's agent On Lender's written demand to the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would
prevent Lender from exercising its rights under this paragraph 17.
Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice
of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach.
Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This
assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full.
(~}~4R{WY) 196o4}.ol Page 6 o! 8
Initials:~
82
18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may
invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect
all expenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the
person in possession of the Property, if different, in accordance with applicable law. Lender shall give notice of
the sale to Borrower in the manner provided in paragraph 13. 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.
If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires
immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale
provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by requesting
a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as
provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise
available to a Lender under this Paragraph 18 or applicable law.
19. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security
Instrument without charge to Borrower. Borrower shall pay any recordation costs.
20. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of
curtesy and dower in the Property.
21. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together
with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and
supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security
Instrument. [Check applicable box(es)].
[--] Condominium Rider [---] Growing Equity Rider ~ Other [specify]
~ Planned Unit Development Rider [~ Graduated Payment Rider Mm RID~.R
(~4R(WY) (96o4).m Pag~ 7 o~ 8
824
BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in this Security Instrument and in
any rider(s) executed by Borrower ',md recorded with it.
Witnesses:
,'~ ~'~ (Seal)
LISA A GUSTAFSON k -Borrower
(Seal)
-Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
STATE OF WYOMING, Linco in
The foregoing instrument was acknowledged before me this lO.Y 13TI-I, 2004
by LISA A GUSTAFSON
County ss:
(date)
My Commission Expires:
(person acknowledging)
Nota/blic
(~4R(WY) m6o41.ol Page 8 of 8
ADJUSTABLE RATE RIDER
FHA Case No.
591-0949340 703
THIS ADJUSTABLE RATE RIDER is made this 13TI-I day of MAY
2004 , and is incorporated into and shah be deemed to amend and supplement [he Mortgage,
Deed of Trust or Security Deed ("Security Instrument") of the same date given by the undersigned
("Borrower") to secure Borrower's Note ("Note") [o WELLS FARGO BANK, N.A.
(the "Lender") of the same date and covering the Property described in the Security Instrument and located
at: 97 FIR PLACE, THAY?,'~TE, WY 83127
[Property Address]
THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE
INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE
AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE
TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY.
ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security
Instrument, Borrower and Lender further covenant and agree as follows:
INTEREST RATE AND MONTI{LY PAYMENT CHANGES (A) Change Date
The interest rate may change on the first day of JuLY ,2 00 5 , and on
that day of each succeeding year. "Change Date" means each date on which the interest rate could change.
{B) The Index
Beginning with the first Change Date, the interest rate will be based on an Iudex. "Index" means the
weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as
made available by the Federal Reserve Board. "Current Index" means the most recent Index figure
available 30 days before the Change Date. If the Index (as defined above) is no longer available, Lender
will use as a new Index any index prescribed by the Secretary. As used in this Rider, "Secretary means the
Secretary of Housing and Urban Development or his or her designee." Lender will give Borrower notice
of the new Index.
0039025572
FHA Multistate ARM Rider - 10/95
VMP MORTGAGE FORMS - (800~521-72~1'~
(C) Calculation of Interest Rate Changes
Before each Change Date, Lender will calculate a new interest rate by adding a margin of
T~qO ~ OI'~-~tlI~R~?~.R percentage point(s)
( 2. 250 %) to the Cu~ent Index ~d rounding the sum to the nearest one-eighth of one
percentage point (0.125%). Subject to the limits stated in paragraph (D) of this Rider, this rounded
mount will be the new interest rate until the next Ch~ge Date. ~) Li~ts on Inter~t Rate Changes
The existing interest rate will never increase or decrease by more th~ one percentage point (1.0%) on
~y single Ch~ge Date. ~e ~nterest rate will never be more thm~ five percentage points (5.0%) higher or
lower th~ the initifl interest rate, as stated in P~agraph 2 of the Note. (E) Calculation of Payment Change
If the interest rate ch~ges on a Change Date, Lender will calculate the ~ount of monthly payment
of principfl ~d interest Which would be necessary to repay the unpaid principal bal~ce in ~ll at the
Maturity Date at the new intezest rate through subst~tially equal payments In m~ing such calculation,
Lender will use the unpaid principfl bal~ce which would be owed on the Ch~ge Date if there had been
no default in payment on ~e Note, reduced by the ~ount of ~y prepayments to principal. ~e result of
this c~culation will be the mount of the new monthly payment of principfl ~d interest. W) Notice of Changes
Lender will give notice to Borrower of ~y ch~ge in the interest rate ~d monthly paymen~ ~ount.
~e notice must be given at least 25 days before the new monthly payment mnount is due, ~d must set
fo~h (i) the date of the notice, (ii) the Ch~ge Date, (iii) the old interest rate, (iv) the new interest rate, (v)
the new monthly payment mount, (vi) the Current Index ~d the date it was published, (vii) the method of
calculating ~e ch~ge in monthly payment mount, ~d (viii) ~y other info~ation which may be required
by law from time to time.
(G) Effective Date of C~anges
A new interest rate calculated in accord~ce with paragraphs (C) ~d (D) of this Rider will become
effective on the Ch~ge Date. Borrower shill m~e a payment in the new monthly ~ount begi~ing on
the first payment date which occurs at least 25 days after Lender has given Borrower the nonce of ch~ges
required by paragraph (F) of this Rider. Borrower shall have no obligation to pay ~y increase in the
monthly payment ~ount calculated in accord~ce with p~agraph (E) of this Rider tbr ~y payment date
occurring less th~ 25 days a~er Lender has given the required notice. If the monthly payment ~ount
calculated in accord~ce with p~agraph (E) of this Rider decreased, but Lender failed to give timely notice
of the decrease ~d Bo~ower made ~y monthly payment ~ounts exceeding the payment mount which
should have been stated in a timely notice, then Borrower has the option to either (i) dem~d the return to
Bo~ower of ~y excess payment, with interest thereon at the Note rate (a rate equal to the interest rate
which should have been stated in a timely notice), or (ii) request that ~y excess payment, with interest
thereon at the Note rate, be applied as payment of principal. Lender's obligation to return ~y excess
payment with interest on dem~d is not assignable even if the Note is othe~ise ,assj~ed belbre the
dem~d for return is made2
~591U (9705) Page 2 of 3 Initials~
827
(Seal) (Seal)
-Borrower -Borrower
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-Borrower -Borrower
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(~591U (9705) Page 3 of 3
823
PLANNED UNIT DEVELOPMENT RIDER
FHA Case No.
591-0949340 703
THIS PLANNED UNIT DEVELOPMENT RIDER is made this 13TH day of
MAY ,2004 , and is incorporated into and shall be
deemed to amend .and supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument") of
the same date given by the undersigned ("Borrower") to secure Borrower's Note ("Note") to
WELLS FARGO BANK, N.A.
("Lender") of the same date and co{,ering the Property described ill the Security Instrument and located at:
97 FIR PLACE, THAYNE, WY 83127
[Property Address]
The Property Address is a part of a planned unit development ("PUD") known as
[Name of Planned Unit Develop~nent]
PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
Borrower and Lender further covenant and agree as follows:
A. So long as the Owners Association (or equivalent entity holding title to common areas and
facilities), acting as trustee for the homeowners, maintains, with a generally accepted
insurance carrier, a "master" or "blanket" policy insuring the Property located in the PUD,
including all improvements now existing or hereafter erected on the mortgaged prexmses,
and such policy is satisfactory to Lender and provides insurance coverage m the amounts,
for the periods, and against the hazards Lender requires, including fire and other hazards
included within the term "extended coverage," and loss by flood, to the extent required by
the Secretary, then: (i) Lender waives the provision in Paragraph 2 of this Security
Instrument for the monthly payment to Lender of one-twelfth of the yearly premium
installments for hazard insurance on the Property, and (ii) Borrower's obligation under
Paragraph 4 of this Security Instrument to maintain hazard insurance coverage on the
Property is deemed satisfied to the extent thai the required coverage is provided by the
Owners Association policy. Borrower shall give Lender prompt notice of any lapse in
required hazard insurance coverage and of any loss occurring l¥om a hazard. In the event
0039025572
FHA Multistate PUD Rider - 10/95f /~/"N
Page 1 of 2 lnitials:~_~_~_/_.,~
VMP MORTGAGE FORMS - (800)ff21-7'2~/
of a distribution of hazard 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 for application to the sums
secured by this Security Instrument, with any excess paid to the entity legally entitled
thereto.
Borrower promises to pay all dues and assessments imposed pursuant to the legal
instruments creating and governing the PUD.
If Borrower does not pay PUD dues and assessments when due, then Lender may pay
them. Any amounts disbursed by Lender under this paragraph C 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.
PUD Rider.
' (Seal) ~, ,_,- x
-Borrower ~IS~ A GUSTAFSON - ['J-Borrower
(Seal) (Seal)
-Borrower -Borrower
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-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
(~589U (9705) Page 2 of 2
0039025572
MANUFACTURED HOME RIDER
TO THE MORTGAGE/DEED OF TRUST/SECURITY DEED
This Rider is made this MA'[ 13, 2004 , and is incorporated into and amends
and supplements the Mortgage/Deed of Trust/Security Deed (the "Security Instrument") of the
same date, given by the undersigned (the "Borrower") to secure Borrower's Note to
WELLS FARGO BANK, N.A.
(the "Lender") of the same date (the "Note") and covering
the Property described in the Security Instrument and located at:
97 FIR PLACE, THAYNE, WY 83127
(Proper~y Address)
Borrower and Lender agree that the Security Instrument is amended and supplemented to read
as follows:
The Property covered by the Security Instrument (referred to as "Property" in the
Security Instrument) includes, but is not limited to, the Manufactured Home (Serial
Number, if required, ) affixed to the property legally described in the
Security Instrument.
B. Additional Covenants of Borrower
Borrower will comply with all state and local laws and regulations regarding the
affixation of the Manufactured Home to the property described in the SecurKy
Instrument including, but not limited to, surrendering the Certificate of Title (if
required) and obtaining the requisite governmental approval and accompanying
documentation necessary to classify the Manufactured Home as real property
under state and local law.
The Manufactured Home described above will be, at all times and for all
purposes, permanently affixed to and part of the property described in the
Security Instrument.
NMFL //3322 O3/O1
Affixing the Manufactured Home to the property described in the Security
Instrument does not violate any zoning laws or other local requirements
applicable to manufactured homes.
Page 1 of 2
83.t
By signing below, Bo-rower accepts and /~:~
agrees to the terms~nd covenants c,~ained
(Seal) , _
-Borrower LISA[ ~ GUSTAFSON
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
STATE OF WYOMING
}SS.
COUNTY OF I
I, the undersigned Notary Public, in and for the aforesaid State and County, do hereby certify
that
LISA A GUSTAFSON
My commission expires:
NMFL #3322 03/01
Borrower(s), personally appeared before me in said County and acknowledged the within
instrument to be their act and deed. Given under my hand and seal this 13TH day of
~. ~ 0 '~,%dO') Notary Public
Page 2 of 2
~ ~OUNI"COF ~ STAT~OF t
.,,,,.~4~:~.~~~~,,,l~' MY COMMISSION EXPIRES JUNE 20, ~07