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HomeMy WebLinkAbout899756'#30469 8997,56 RECEIVED LINCOLN COLIN'fY CLERK AflerRecording Remm To: FIRST BANK OF IDAHO, FSB D/B/A FIRST BA/q'K OF THE TETON~ P.O BOX 12860 JACKSON, WY 83002 ISpace Above This Line For Recording Data] ODJICK MORTGAGE :o~ #:494012180 MIN: 100174102000011736 PIN #: 37181940002100 DEFINITIONS , Words used in multiple sections o£this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated MAY 26, 2004 together with all Riders to this document. (B) "Borrower" is BRENT ODJICK AND JESSICA LEA ODJICK, HUSBAND AND WIFE L Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. M'ERS 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 Security Instrument. MERS is organized'and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, M1 48501-2026, tel. (888) 679-MERS. (D) "Lender" is FIRST BANX OF IDAHO, FSB, DBA FIRST BANK OF THE TETONS Lender is a CORPORATION organized and existing under the lawsof IDAHO . Lender's address is P.O.BOX 12860 / 170 E BROADWAY JACKSON, WY 83002 (E) "Note" means the pronfissory note signed by Borrower and dated MAY 2 6, 2 004 The Note states that Borrower owes Lender ONE HUNDRED EIGHTY THOUSAND AND 00/100 Dollars (U.S. $ 180,000. O0 * ) plus interest. Borrower has promised to pay this debt in regular Periodic Paymen;s and to pay the debt in full not later than JUNE 1, 2 03 4 (F) "Property" means the property that is described below ·under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt e~idenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWYI (Page I of I 3 pages7 noctr~wtx.v'rx ,~o/x~/aooa *This is a First Real Estate Mortgage recording concurrently with a S~ond Real Estate Mortgage in favor of/F~rst Bank of Idaho, FSB, DBA First ~f The Tetons, dated May 26~ 2004/~t}the original amount of $33,750.00f~' 494012180 (Il) "Riders" means till Riders to this Security Instrument that are executed by Borrower. Tile following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Balloon Rider [] 1-4 Fmnily Rider [] Condominium Rider [] Planned Unit Developlnent Rider [] Other(s) [specify] [] Second Home Rider [] Biweekly Payment Rider (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and adminislrative rules and orders (mat have the effect of law) as well as all applicable final, non-appealable judicial opinions. (.I) "Community Association Dnes, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower m the Property by a condominium association, homeovalers association or similar organization. (K) "Electronic Funds Transfet';"means any transfer of funds, other than a transaction originated by check, &afl, or similar paper instrument, whk)~ is initiated through an electronic terminal, telephonic insmm~ent, computer, or mabmetic tape so as to order, inslruct, or authorize a financial instittmon to debit or credit an account. Such term includes, bt,t 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. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other' than insurance proceeds paid under the coverages described in Sectiou 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or onfissions as to, tile value and/or condition of the Property. (N) "Mm'tgage lnsura,ce" meafis 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 under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Fstate 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 regulaticm that governs.the same subject matter. As used in this 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 RESpAi (Q) "Successor in Interest of Br}rrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's ob(igations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lenderi (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) tile performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this Furpose, Bon-ower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Leuder's successors and assigns) and to the successors and assigns of MERS, and Lender's successors and assigns, with powc[ of sale, the following described property located in the COUNTY ; of. LINCOLN (Type of Recording Jurisdiction)~ (Name of Recording Jurisdiction) : LOT 2 OF THW. LAZY B SUI. DIVlSION, LINCOLN COUNTY, WYOMIN~ ACCORDING TO THE PLAT RECORDED IN THE OFFICE OF THE LINCOLN COUNTY CLERK ON DECEMBER 13, 1991 AS INSTRUMENT NO. 742138. which currently has tile address of 64 BUCKRAIL LANE ALPINE ,Wyoming 8 312 8 [citY] .' [Zip Codel WYOMING -Single Family -Fa,.,ie h~ae/Freddie Mac UNIFORM INSTRUMENT DOCUKWY2 (Page 2 oj' l 3 pages) DOCb'KWY2. VTX 10/17/2002 [Street] . ("Property Address"). Form :3051 1101 TOGETHER WITH all the impmve:.nents now or bereaft'er erected o,~ 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 Sect~rity lnstrmn~t. All of the foregoing is re£erred lo in this Security Inslrument as lhe "Property." Borrower understands and agree~ l, hat MERS holds only legal title lo the ,merests granted by Borrower m this Security Instrument, but, ifneces:t~ary to comply with law or custom, MERS (as nominee for Lemler and Lender's successors and assigms) has the ri:gb(: to exe,'cise 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 m, releasing ami canceling tlfis Security Instru'me~t: BORROWER COVEN4',.NTS tltat Bor,'ower is lawfidly seised of the estate hereby conveyed and bas the right to mortgage, gran! ami con'~,ey the Property and dial the Proper~y is unencttmbered, except for encumb,-mlces of record. Bon'ower warrants and will defend generally the title lo the Property agaifis! all claims ired demands, subject to any encumbrances of reco:d. THIS SECURITY INSTRUMENT con)bines uniform covenants for national use and nonmnifonn covenants with limited variations' by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS Borrower anti Lender covenant and agree as follows: 1. Payment o1' Prin6ipa~, ~nterest, Escrow Items, Prepayment Charges, and Late Char.ges. Borrower shall pay when due tl~e principa~ ,~[ and interest on. the debt evidenced by the Note and any prepayment charges and late charges due rmder the' Note. Bo~ower shall also pay fimds for Escrow Items pursuant to Section 3. Paymeuts due under the Note and riffs Security Instalment shall be made in U.S. currency, ltowever, if any check or mher instrument received by Lender as payment rmder the Note or this SecuriW Instrument is returned to Lender unpaid, Lender may require that ¢ny or all subsequent payments due under the Note and ~his Security Instrument be made in one or more of the Ibllowing fOlmS, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check o?' cashier's check', provided any such check is drawn upon an institution whose deposits are insured by a federal ~gency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in tl~e Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retun~ any payment or partial pas)nent if the payment or partial payments are insufficient lo bring the Loan current. Lender may accept any payment or paffial payment insufficient to bring the Loan current, widmut waiver of any rights hereunder or prejudice ~o i{:s rights to refi~se such payment or partial payments in the lhture, but Lender is not .obligated to apply such payment~ attire time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lerider need not pay interest on unapplied ikmtls. Lender may hold such unapplied fimds tmtd Borrower makes payment to bring the Loan current. 1~ Borrower does not do so widfin a reasonable period of time, Lender shall eitbbr ~'pply such htnds or re~m dram to Borrower.'If not applied earlier, such fimds will be applied to the outstanding principal balance nnder the Note immediately prior to Foreclosure. No oflket or claim which Bon'ower might bare now or in the fi~ture against Lender shall relieve Borrower fi'om making paymems due under the Note an{l this Security Instrument or performing the covenants and agreements secured by riffs Security lnstrmnent. ! 2. Application of Pay~{~ents or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender ~hall be applied in the following order o1' priority: (a) interest due under the Note; (b) principal due under the Note}' (6) amounts due under Section 3. Such payments.shall be applied to each ProSodic Payment in the order in which il'became due. Any remaining amounts slmll be applied first to late charges, second to any od~er amounts due under this Secmqty Instrument, and then to reduce the principal balance of the Note. 11 Lender recmves a payme:~t from Borrower for a debnquent Penodm Payment winch includes a sufficient amount to pay any late charge d~.m, the paymenl may be appl ed to ibc delinqueut payment and the late charge. If more Ihan one Periodic Paymen? is outstanding. Lender may apply any payment received l}om Borrower to the repayment of the Periodic Paymrnts if, and to the extent that, each payment can be paid in ~ll. To ll~e exlenl lbat any excess exists after the payment is applied to the full paymenl ol' one or more Periodic Payments, such excess may be al)plied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as deschbed in the Note. ; ~V~'OMING - Single Family - Fannie N'laelFredtlie Mac UNIFORM INSTRUMENT Form 3051 1/01 Imcu~wvl .' (Page 3 of l 3 pr~geO 494012180 - "'~" '~"~ Any application of payments, tnsurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone tile due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments.0r ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender nnder Sectic!n 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance prmniums in accordance with the provisions of Section 10. TI!ese items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Commurdty Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this,Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation toll pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Fundsl for any or all Escrow Items at any time. Ally such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts 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 paymen? within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be dee~ned to be a covenant and agreement contained in this Security Instrument, as the ptrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights tir ;ler Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke tile waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time., collect and hold Funds in an amount (a) sufficient to pemfit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed tile maximum amount a lender-can require under RESPA. Lender shall estimate th~ amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow ftems 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 Fun~2s to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pal/Borrower any interest or earnings on the Funds. Borrower and Lender can agree in .writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage' in accordance with RESPA, but in no more than 12 monthly 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 up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full re'all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Cornmunity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptD discharge any'lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing 19 the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borr'ower is performing such agreement; (b) contests the lien in good faith by, or WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY4 (Page 4 oj'13 pages) DOClJI(H'/~ .V~X 101171~000 494012180 defends against enforcement of'~he lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detennines timt any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may g~ve Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4 Lender may require Bra':rower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connect~ 6n with this Loan. 5. Property Insurance. Bon'ower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fi~'e, hazards included within the term "extended coverage," and any other hazards including, but not limited to, eantiquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (in(~lu,;]ing deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during tile term of the Loan. The insurance carrier providing the insurance shall be'chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determina:!ion and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of a~y fees imposed by the Federal Emergency Management Agency in connection with the review of any flood Zone determination resulting from an objection by Borrower. If Borrower fails to mairmin any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower:s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage sball cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the conients o'f the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly ex,':eed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under thisl Section 5 shall beco~ne additional debt of Borrower secured by this Security instrument. These amounts shall ibear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice fr6m Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shalllinclude a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender ,'~;hall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or desti-uction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. Iii the event of loss, Bo'rrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made pr. omptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance.proceeds, whether or n 3t the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the r!~torat~on or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable L~w requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be 'oaid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not ec(,nomically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance, proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the' Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that' the insurance carrier has WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 nocugwYs (Page 5 of 13 pages) DOCUKWY5 .VTX 10/17/2002 ' '" 3;!. .. 494012180 offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when tile notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's'rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security InStrument, and (b) any other of Borrower's rights (other than the r/gbt to any refund of unearned premiums paid by Borrower) under all insurance policies coven ng the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid, under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrowe¥ shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execut',on of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence fo~- at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not ibe Unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or conmfit 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 deterior, atin.g or decreasing in valiie due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration ~s not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrowe:: shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purp,}ses 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 tile insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of-Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the imerior of the improvements on the Property. Lender shall give Borrower notice at the. time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading,, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lende~ }s Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform tile co,,enants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significar~tly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien wbich may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lerder may do and pay for whatever is reasonable or appropriate to prutect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/of'.' 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 this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Secm-ity Instrument, including its secured position in a bankruptcy proceeding. Securing the Propert'y includes, but is not linfited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water fi'om pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or oil'. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed ".?y Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. The,,e amounts shall bear interest at the Note rate from the date of disbursement ~tnd shall be payable, with such interes?, 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. Borrower shall not surrender the !easehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground 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 whting. '" WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3i}51 1/01 DOCUKWY6 DOCU~f,f~ 6 .v?x 10/1"//2002 4940121~0 lO. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of nmking the Loan, Borrower shall pay the premiums r~quired to maintain the Mortgage Insurance in effect. Ii; for any reason, the Mortgage Insurance coverage re~uired by Leuder ceases to be available from the mortgage insurer that previously provided such insurance and Bo:-~ower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borro~'.er shall pay the premimns required to obtain coverage substantially equivalent to the Mortgage Insurance previo~tsly 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 ~overage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refimdable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable,~ notwithstanding tile fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrowe!- any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage In!surance 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 premiums 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 the premiums for Mortgage Insurance, Borrower shall pay the premiums required to Inaintain Mortgage Insurance in effect, or to provide a non-refimdable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing tbr such termination or until termination is required by Applicable Law. Nothing in iris Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may 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 parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfacfory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require tile mortgage insurer to make payments using any source of fuuds that the mortgage insurer may have available (whiqh may include filnds 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 insureCs risk, or reducing losses. If such agreelnent provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often tern~ed "captive reinsuranc::." Further: (a) Any suct, agreeme;~ts will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms ~ofthe Loan. Such agreements will not iucrease the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - 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 cerlain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage lnsurahce terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were.unearned at the time of such cancellation or terrain ation. 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 repair is economically feasible and Lender's security is not lessened. During such repair and restoratmn period, Lexq(Jer shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Fvoperty 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 ofprpgress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires intefiest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earmnl~!is on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by WYOMING - Single Family - Fannie Mae/Freddie Mac UN] FORM INSTRUMENT Form 3051 1101 DOCUKWY7 (Page 7 of 13 pages) DOCUKW'Z7 .VTX 10/17/2002 494012180 this SecUfity Instrument, whether or not then due, with the excess, if ally, paid to Borrower. Such Miscellaneous Proceedg shall be applied in the oi'der provided tbr in Section 2. In the event of a total taking, destruction, or loss in value of the Property, tile Miscellaneous Proceeds shall be applied to the sums secured by~ this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial raking, destruction, or loss in value of the Property in which the Pair market value of the Property i~nmediately befcre tile partial taking, destruction, or loss in value is equal to or greater tha~ the amount of the sums secured by this Security Instrument immediately before tile 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 tile amount of the Miricellaneous Proceeds multiplied by the following fraction: (a)the total amonnt of the sums secured inmlediately before the partial taking, destruction, or loss in value divided by (b) tile fair market value of the Property immediatel)'~ before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. Ill the event ora partial laking, destruction, or loss in value of the Property in which the Pair market value of tile Property immediately heft.re, the partial taking, destruction, or loss in value is less than the amount of the sums secured inunediately befor'~ the partial 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 this Security Instrument whether or not the sun-s are then due. If tile Property is aband.)ned 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 within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then' due. "Opposing Party" means tile third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a fight of action in regard to Miscellaneous Proceeds. Borrower shall be in d~:fault if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result iri forfeiture of the Property or other matefial impairment of Lender's interest in tile Property or fights under this S~,curity Instrument. Borrower can cure such a default and, if acceleration has occurred, reiustate as provided in'Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes 'brfeiture of the Property or other material impairment of Lender's interest in tile Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All 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 Relet'~sed; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by tiffs Security Instrument granted by Lender to Borrower or any Successor in Interest of Bor!ower shall not operate to release tile liability of Borrower or any Successors in Interest of Borrower. Lender shal not be required to conunence proceedings against any Successor in Interest of Borrower or to refuse to extend ';ime for payment or otherwise modify amortization of tile sums secured by this Security Instrument by reason o1' any demand made by the original Borrower or any Successors in Interest of Borrowev; Any forbearance by Lender in exercising any fight or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or ill amounts less than the amount then due, shall not be .-~ waiver of or preclude the exercise of any right or remedy. 13. Joint and Several l,iability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not ~xecute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey tile co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay:the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to exte~d, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note Without the co-signer's consent. Subject to the provision¢ of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Se'curity Instrument in writing, and is approved by Lender, shall obtain all of Borrower's fights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and WYOMING - Single Family - Fannie ~ae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY8 i (Page 8 of 13 pages) DOCUKWY8. %'TX 10/17/2000 494012180 agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in com~ection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of expres.4 authority in this Security lnstrun~ent to charge a specific fee to Borrower shall not be construed as a prohibition on '~he 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 interpreted so that the interest or other loan charges 'collected or to be collected in connection with the Loan exceed the pernfitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already, collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose ta make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If ~. 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 .bf such overcharge. 15. Notices. All notices:given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrowler in connection with this 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 Borr~wer shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice a,ildress 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 ttn-ough that specified' 9rocedure. There may 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 mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Securi'ty l)strument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required'i'by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the ()orresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the julr~sdtctmn m winch the Property is located. All rights and obhgattons contained in this Security Instrument 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 nfight be silent, but such silence shall not be construed as a prohibition against agreement by contract. 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. As used in this Secm'ity Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligatiou to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Secuhty 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 0r beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Froperty or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial i!)terest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate l?ayment 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 '~ption, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 dayl from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums sec!~red by this Security Instrument. If Borrower thils to pay these stuns prior to the WYOMING -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY9 (Page 9 of 13 pages) DOCUKI~P/~. VTX 10/1'//2002 494012180 expiration of this period, Lendcrl may invoke any remedies pemfitted by this Security Instrmnent without further notice or demand on Borrower. i 19. Borrower's Right to Reinstate After Acceleration. {f Borrower meeis ce~iain conditions, Borrower sba}{ have the right to have enforcement of this Secur{ty Instrument discontinued at any time prior to the earliest of(a) five days before sale of the Property pursnant to any power of sale contained in this Security {nstmment; (b) such other period as Applicable ]~mw might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgmeni enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender a{{ sums which then wou{d be due under 1.tis Security Instrument and the Note as if no acce{erati0n had occurred; (b) cures any defau{t of any other coven.~nts or agreements; (c) pays al{ expenses incurred in enforcing this Security Instrument, inc{uding, but not limited to, reasonab{e ariomeys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interes! in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonab{y rcqu}re to assure that Lender's interest in the Property and rights under this Security instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, sha{{ condnue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses {n one or more of the fo{lowing £onns, as se}ected by Lender: (a) cash; (b) money order; (c) ceriified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an instiiution whose deposits are insured by a fcdera{ agency, instn, menta{ity or entity; or (d) E{ectronic Fnnds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the' Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the NOte and this Securily lnstruraent and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applica.ble Law. There also nfight be one or more changes of the Loan Servicer unrelated to .a sale of the Note. If there is a ~change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, tile address to which payments should be made and any other information RESPA re.]uires 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 'obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchase, r unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the membe? of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the. other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such iBorrower or Lender has notified the other party (with such notice given in compliance with the requiremeffts 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. I f 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 t Cceleration. 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 act::0n provisions of this Section 20. 21. Hazardous Substances. As used in ,.this Section 21: (a) "ttazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or ~ormaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdicti6n where tile Property is located that relate to health, safety or environmental protection; (c) "Environmental ,:~leanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Conditiou' means a condition that can cause, contribute to, or otherwise trigger an Enviroamental 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, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, VgYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUgWYIO , (Page 10 of 13 pages) DOCUK~A. V~X 10/17/2002 0 494012180 creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage o~ the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmenta; or regulatory agency or private party involving the Property aod any Hazardous Substance or Envirm~mental Law of wlfich Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by aoy governmental or regulatory authority, or any private party, that any remcval or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmeotat Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender furtller covenant and agree as follows: 22..Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleratiou following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the de!'ault; (e) a date, not less than 30 days from the date the uotice 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. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediatd payment .in full of all sums secured by this Security Instrument without further demand and may invoke the Power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, re'~sonable attorneys' fees and costs of title evidence. If Lender invokes the imwer of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, it' different, in accordauce with Applicable Law. Lender shall give notice of the sale to Borrower i,ln 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 sMe. The proceeds of the sale shall be applied in the following order: (a) to ali expenses of the sale, including,~but not limited to, reasonable attorneys' fees; (b) to all snms secured by this Security Instrument; and (c) an'y excess to the person or persous legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shhll pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if [he fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrowerlreleases and waives all fights under and by virtue of the homestead exemption laws of Wyoming. '~ WYOMING -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DOCklKWYtl (Page II oJ'13 pages) DOC~KWYB. VTX 10/17/2002 Form 3051 1/01 494012180 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executelJ b~.BoAower and recorded with it BORROWE~- JESSICA I*E~DJ~K t DATE - Ba/'OM1NG - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT oocul~w¥12 (Page 12 of13 pagesj voc~c.vrx Form 3051 Il01 494012180 STATE OF COUNTY OF [Space Below This Line For Acknowledgment] The foregoing instrument was acknowl~edged before me by x this ~~dayof'~~' ~/ , Wi/t. ne.(s my~d and official sea .[F Notary Pubhc My Commission Expires: / r · WYOMING - Single Family - Fannie Hae/Freddie Mac UNIFORM INSTRUMENT DOCUKWY I ~ (Page 13 q/' I 3 pages) DOOtn~. v'rx 8/6/'~002 Form 3051 1/01 When Recorded Mail To: FIRST BA/q'K OF IDA/tO, FSB D/B/A FIRST BANK OF THE TETONS P.O BOX 12860 JACKSON, WY 83002 ATTN: [Space Above This Line For Recording Date] BALLOON RIDER LOAN #: 494012578 MIN: 100174102000012122 THIS BALLOON RIDER is made this 26TI-I day of blAY, 2004 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instalment") of the same date given by the tmdersigned ("Borrower") to secure Borrower's Note (the "Note") to FIRST BAiNK OF IDAHO, ~'SB, DBA FIRST BANK OF THE TETONS (the "Lender") of the same' date'L~nd covering the property described in the Security Instrument and located at: 64 BUCKRAIL LANE ALPINE, WY 83128 [Property Address] The interest rate stated on the Note is called the "Note Rate". The date of the Note is called the "Note Date". I understand the Lender may tq-ansfer the Note, Security Instrument and tiffs Rider. The Lender or anyone who takes the Note, the Security Instmmert and this Rider by transfer and who is entitled to receive payments under the Note is called the "Note Holder". ADDITIONAL COVENANTS. In addition to the covenants and agreements in file Secority Instrmnent, Borrower and Lender'fi~rther c')venant and agree as follows (despite anything to the contrary contained in the Security Instmment or the Note): THIS LOAN IS PAYABLE IN FULL AT MATURITY. YOU MUST REPAY THE ENTIRE PRINCIPAL BALANCE OF TttE LOAN"AND UNPAID INTEREST THEN DUE. THE LENDER IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME. YOU gVILL, TttEREFORE, BE REQUIRED TO MAKE PAYMENT OUT OF OT}IER ASSETS THAT YOU MAY OWN, OR YOU WILL HAVE TO FIND A LENDER, WHICH MAY BE THE LENDER YOU ttAVE Tills LOAN WITH, WILLING TO LEND YOU THE MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HAVE TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW LOAN EVEN IF YOU (!;BTAIN REFINANCING FROM TIlE SAME LENDER. BALLOON RIDER-MULTISTATE (01/97) DOCUBRHI DOCUBRlll.VTX 10/15/2002 Page I of 2 494012578 BY SIGNING BELOW, Borrower acceuI~ m~d a~ees to the terms and covenants contained in this Balloon Rider. BORROWER -~_JIC E - BORROWE~/- JESSICA'LEA ODJICK~ - 'DATE ---~/~~[ BALLOON RIDER-MULTISTATE (01/97) DOCUBR}I2 DOCUBR~2.VTX 10/15/2002 Page 2 of 2