HomeMy WebLinkAbout89980530524 (04)
After Recording Return To:
GMAC Mortgage Corp.
100 Witmer Road
Horsham, PA 19044-0963
ATTN: Records Management
RECEIVED
LINCOLN COUNTY CLERK
O.
[Space Above Tiffs Line For Recording Data[
V.A. NO: LAPP-0852897
Loan No. 56S261104
MIN 1000375-0565261104-0
MORTGAGE
NOTICE: TItIS LOAN IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE DEPARTMENT
OF VETERANS AFFAIRS OR ITS AUTHORIZED
AGENT.
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined
in Sections 3, ll, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this
document are also provi6ed in Section 16.
(A) "Security Instrument" means this document, which is dated May 2 8,
2004 , togett~er with all Riders to this document.
(B) "Borrower" is
John S. Hartman and Karen K. Hartman, husband and wife.
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate
corporation that is acting solely as a nominee for Lender and Lender's successors and assigns.
MERS is the mortgage, e 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. (883) 679-MERS.
V~I[OMING - Single Fanfily - Fanfie Nlae/Freddie Mac - modified for VA
UNIFORM INSTRUMENT Fonu 3051 1101
(Page 1 of 18) 250960554 Initials: ', '"~,~"'.
GMACM - VMS.0236.WY (O00i)
076
(D) "Lender" is
GMAC Mortgage Corporation
Lenderisa Corporation
laws0f Pennsylvania
109 Witmer Road, P.O.
Box 963 PA
Horsham,
organized and existing under the
Lender's address is
19044
(E) "Note" means the promissory note signed by Borrower and dated May
2004 The Note states that Borrower owes Lender
One Hundred Ninety Two ?housand Six Hundred Forty Seven and 00/100
28,
Dollars (U.S. $192,647.00 ) plus interest. Borrower has promised to pay this
debt in regular Periodic Payments and to pay the debt in full not later than
June 1, 2034
(F) "Property" means the property that is described below under the heading "Transfer of
Rights in the Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges
and late charges due under the Note, and all sums due under this Security Instrument, plus
interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower.
The following Riders are 'to be executed by Borrower [check box as applicable]:
['~ Adjustable Rate Rider [---] Condonfinium Rider [---] Second Home Rider
[-~ Balloon Rider [---] Biweekly Payment Rider [---] 1-4 Fanfily Rider
t-X] VA Rider ' ~ Planned Unit Development Rider
[--] Other(s) [specify]
(1) "Applicable Law" means all controlling applicable federal, state and local statutes,
regulations, ordinances ~nd administrative rules and orders (that have the effect of law) as well
as all applicable final, non-appealable judicial opinions.
(J) "Community Association Dues, Fees, and Assessments" means all dues, fees,
assessments and other charges that are imposed on Borrower or the Property by a condominium
association, homeowners association or similar organizatmn,
(K) "Electronic Fuads Transfer" means any transfer of funds, other than a transaction
originated by check, dra£t, or similar paper instrument, which is initiated through an electronic
terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize
a financial institution to debit or credit an account. Such term includes, but is not limited to,
point-of-sale transfers, ~utomated 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 Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or
other taking of all or any part of the Property; (iii) conveym~cc in lieu of condemnation; or (iv)
m~srepresentations of, or omissions as to, the value and/or condition of the Property.
~I/YO~'ILNG - Single Family -- Famfie Mae/Freddie Mac UNIFORM INSTRUMENT - modi 5ed for VA Form 3051 1/01
GMACM- VMS.0236.WY (0001} (Page 2 off8) Initials: '7~°/- '
(N) !'Mortgage InsUrance" means insurance protecting Lender against the nonpayment of,
or default on, the Loan.
(O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and
interest under the Note, l:.lus (ii) any amounts under Section 3 of this Security Instrument.
(P) "RESPA" meani~ the Real Estate Settlement Procedures Act (12 U.S.C. {}2601 et seq.)
and its implementing regulhtion, Regulation X (24 C.F.R. Part 3500), as they might be
an~ended from time to time, or any additional or successor legislation or regulation that governs
the same subject matter. As used in this Security Instrument, "RESPA" refers to all
requirements and restrictions flint are imposed in regard to a "federally related mortgage loan"
even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
(Q) "Successor in interest of Borrower" means any party that has taken title to the
Property, whether or not that party has assumed Borrower's obligations under the Note and/or
this Security Instrument.
TRANSFER OF RIGHTS IN. THE PROPERTY
This Security Instrnment secures'to Lender: (i) the repayment of the Loan, and all renewals,
extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and
agreements under this Security Instrument and the Note. For this purpose, Borrower does
hereby mortgage, grant and convey to MERS (solely as nmninee for Lender and Lender's
successors and assigns) :md to the successors and assigns of MERS, with power of sale, the
following described property located in the County
[Type of Recording Jurisdiction] :
of Lincoln
[Name of Recording Jurisdiction]
SEE SCHEDULE
"A" ATTACHED HERETO AND MADE A pART HEREOF.
which currently has the a:Idress of
504 Snake River Drive, C2,
[Street]
Alpine , Wyoming 8 312 8 ("Property Address"):
[City] [Zip Code]
TOGETHER Wi.iTH all the improvements now or hereafter erected on the property, and
all easements, appurten.:mces, and fixtures now or hereaftei' 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 understands and
agrees that MERS holds' only legal title to the interests granted by Borrower in this Security
Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and
Lender's successors and as:tigris) has the right: tO exercise any or all of those interests,
including, but not linfited to, the right to foreclose and sell the Property; and to take any action
required of Lender including, but not limited to, releasing and canceling this Security
Instrument.
WYOMING - Single Family ~ Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Faun 3051 1/01
GMACM - VMS.0236.WY (0,J01)(Page 3 of 18) hfitials:. '~,~ ,
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby
conveyed mid bas 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 SECURI'IY INSTRUMENT combines uniform covenants for national use and
non-uniform covenants with limited variations by jurisdiction to constitute a uniform security
instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late
Charges. Borrower shal2 pay when due the principal of, and interest on, the debt evidenced by
the Note ea~d any prepayment charges and late charges due under the Note. Borrower shall also
pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
Security Instrument shall be made in U.S. currency. However, if any check or other instrument
received by Lender as paymem under the Note or this Security Instrument is returned to Lender
unpaid, Lender may require that any or all subsequent payments due under the Note and this
Security Instrument be made in one or more of the following Ibrms, as selected by Lender: (a)
cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check,
provided any such check is drawn upon an institution whose deposits are Insured by a federal
agency, instrumentality, or entity; or (d) Electronic Funds Transfer
Payments are deemed received by Lender when received at the location designated in
the Note or at such other~location as may be designated by Lender in accordance with the notice
provisions in Section 15. Lender may return any payment or partial payment if the payment or
partial payments are ~nsufficient to bring the Loan current. Lender may accept any payment or
partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or
prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not
obligated to apply such payments at the time such payments are accepted. If each Periodic
Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied
funds. Lender may holdlsuch unapplied funds until Borrower makes payment to bring the Loan
current. If Borrower does not do so within a reasonable period of time, Lender shall either
apply such funds or return them to Borrower. If not applied earlier, such funds will be applied
to the outstanding principal balance under the Note immediately prior to foreclosure. No offset
or claim which Borrower nfight have now or in the future against Lender shall relieve Borrower
from making payments flue .under the Note and this Security Instrument or performing the
covenants and agreement,2, secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this
Section 2, all payments accepted and applied by Lender shall be applied in the following order
of priority: (a) interest due Under the Note; (b) principal due under the Note; (c) amounts due
under Section 3. Such p~yments shall be applied to each Periodic Payment in the order in which
it became due. Any rem~:ining amounts shall be applied first to late charges, second to any other
amounts due under this Security Instrument. and then to reduce the principal balance of the
Note.
LOAN NO: 565261104
'~YO]~IlNG - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01
GM),CM - VMS.0236.WY {090t) (Page 4 of 18) hdtial~i: "~-~._~ -
If Lender receives a payment from Borrower for a delinquent Periodic Payment which
includes a sufficient ambunt to pay any late charge due, the payment may be applied to the
delinquent payment and the late charge. If more than one Periodic Payment is outstanding,
Lender may apply any payment received from Borrower to the repayment of the Periodic
Payments if, and to the extent that, each payment can be paid in full. To the extent that any
excess exists after the payment is applied to the full payment of one or more Periodic Payments,
such excess may be applied to any late charges due Voluntary prepayments shall be applied
first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to
principal due under the Note shall not extend or postpone the due date, or change the amount, of
the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic
Payments are due under the Note, until 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 Securi!y Instrument as a lien or encumbrance on the Property; (b) leasehold
payments or ground rerXs on the Property, if any; (c) prenfiums for any and all insurance
required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums
payable by Borrower to Lender in lieu of the payment of Ivlortgage Insurance premiums' in
accordance with the previsions of Section 10. These items are called "Escrow Items." At
origination or at 'any time during the term of the Loan, Lender may require that Community
Association Dues, Fees and Assessments, if any, 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 wanes Borrower's .obligation to pay the Funds for any or all Escrow Items.
Lender may waive Borrdwer's obligation to pay to Lender Funds for any or all Escrow Items at
any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall
pay directly, when 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: payment within such time period as Lender may require. Borrower's
obligation to make such payments and to provide receipts shall for all purposes be deemed to be
a covenant and agreemeat contained in this Security Instrument, as the phrase "covenant and
agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly,
pursuant to a waiver~ anti Borrower fails to pay the amount due for an Escrow Item, Lender may
exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
under Section 9 tO repay to Lender any such amount. Lender may revoke the waiver as to any
or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such
revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit
Lender to apply the Fronds at the time specified under RESPA, and (b) not to exceed the
maximum an~ount a lender can require under RESPA. Lender shall estimate the amount of
Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow
Items or otherwise in accordance with Applicable Law.
LOAN NO: 565261104
WYOMING _ Single Family - Famfie Mae/Freddie Ivla~ UNIFORM INSTRUMENT Form 3051 l/0I
GMACM - VMS.0236.WY (0001) (Page 5 of 18) hfitials: "~.~I~¢
The Funds shall be held in an institution whose deposits are tnshred by a federal
agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits
are so insured) or in an7 Federal Home Loan Bank. Lender shall apply the Funds to pay the
Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower
for holding and applying the Funds, annually analyzing the escrow account, or verifying the
Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits
Lender to make such a charge. Unless an agreement is made in writing or Applicable Law
requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any
interest or earnings on the Funds. Borrower and Lender cml 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 smplus 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 RESPAi but in no more than 12 monthly payments.
Upon payment '~in full of all sums secured by this Security Instrument, Lender shall
promptly refund to Borrower any Funds held by Lender.
4. Charges; L'iens. 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 Cormnunity Association Dues,
Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall
pay them in the rammer provided in Section 3.
Borrower 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, but only so long as Borrower Is performing such
agreement; (b) contests lhe lien in good faith by, or defends against enforcement of the lien in,
legal proceediugs which 'in L~nder's opinion operate to prevent tile enforcement of the lien while
those proceedings are pending, but only until such proceediugs are concluded; or (c) secures
from the holder of the ]ien an agreement satisfactory to Lender subordinating the lien to this
Security Instrument. If' Lender determines that any part of the Property is subject to a lien
which can attain priority over this Security Instrument, Lender may give Borrower a notice
identifying the lien. Within 10 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 Borrower to pay a one-time charge for a real estate tax verification
and/or reporting service :used by Lender in connection with this Loan.
5. Property Insurance. Borrower shall keep the improvements now existing or
hereafter erected on the Property insured against loss by fire, hazards included within the term
"extended coverage," and any other hazards including, but not linfited to, earthquakes and
floods, for which Lende- requires insurance. This insurance shall be maintained in the amounts
WYOMING -Single Family - Fanaie Mae/Freddie Mac UNIFORM INSTRUMENT Focus 3051 1/01
GMACM - VMS.0236.WY (q'001) (Page 6 of 18) l,fitials:
(including deductible levels) and for the periods that Lender requires. What Lender requires
pursuant to the preceding sentences can change during the term of the Loan. The insurance
carrier providing the insurance shall be chosen by Borrower subject to Lender's' right to
disapprove Borrower's' fihoice, 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
determination and certiflcation services and subsequent charges each time remappings or similar
changes occur which reasonably might affect such deternfination or certification. Borrower shall
also be responsible for the payment of any fees imposed by the Federal Emergency Management
Agency in connection 'a, ith the review of any flood zone determination resulting from an
objection by Borrower. '~
If Borrower fails to maintain any of the coverages described above, Lender may obtain
insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation
to purchase any particular type or amount of coverage. Therefore, such coverage shall cover
Lender, but might or rrdght not protect Borrower, Borrower's equity in the Property, or the
contents of the Property, against any risk, hazard or liability and might provide greater or lesser
coverage than was previously in effect. Borrower acknowledges that the cost of the insurance
coverage so obtained might significantly exceed the cost of insurance that Borrower could have
obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt
of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note
rate from the date of disbursement and shall be payable, with such interest, upon notice from
Lender to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject
to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall
name Lender as mortga~gee and/or as an additional loss payee. Leuder shall have the right to
hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to
Lender all receipts of l:aid premiums and renewal notices. If Borrower obtains any form of
insurance coverage, no[ otherwise required by Lender, for damage to, or destruction of, the
Property, such policy :~hali include a standard mortgage clause and shall name Lender as
mortgagee and/or as an ~.dditional loss payee.
In the event .of loss, Borrower shall give prompt notice to the insurance carrier and
Lender. Lender may m~ke proof of loss if not made promptly by Borrower. Unless Lender and
Borrower otherwise agr:ee in writing, any insurance proceeds, whether or not the underlying
insurance was required l:'y Lender, shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such
repair ,and restoration pe.riod,' 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 Law requires interest to be paid on such insurance proceeds, Lender shall not be
required to pay Borrowe:r any interest or earnings on such proceeds. Fees for public adjusters,
LOAN NO: 565261104
WYOMING - single Falnil¥ - Fanilie Mae/Fi'eddie. Mac UNIFORM INSTRUMENT Fona 3051 l/0l
GMACM- VMS.0236.WY (0001) (Page 7 of18) luitials:h "~ ~ [-~f.~.
or other third parties, r6tained by Borrower shall not be paid out of the insurance proceeds and
shall be the sole obligatibn cf Borrower. If the restoration or repair is not economically feasible
or Lender's security would.be lessened, the insurance proceeds shall be applied to the sums
secured by this Security Instrument, 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 ab,'md0ns the Property, Lender may tile, 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 offered to settle a claim, then Lender may negotiate
and settle the claim. The 30-day period will begin when the notice is given. In either event, or
if Lender acquires the ~Property under Section 22 or otherwise, Borrower hereby assigns to
Lender (a) Borrower's r~ghts to any insurance proceeds in an amount not to exceed the amounts
unpaid under the Note or this Security Instrument, m~d (b) any other of Borrower's rights (other
than the right to any refund of unearned premiums paid by Borrower) under all insurance
policies covering the Property, insofar as such rights are applicable to the coverage of the
Property. Lender may use the insurance 'proceeds either to repair or restore the Property or to
pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
6. Occupancy~ Borrower shall occupy, establish, and use the Property as Borrower's
principal residence within 60 days after the execution of this Security Instrument and shall
continue to occupy the property as Borrower's principal residence for at least one year after the
date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
unreasonably withheld, 9r 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
conunit waste on the Property. Whether or not Borrower is residing in the Property, Borrower
shall maintain the Propeirty in order to prevent the Property from deteriorating or decreasing in
value due to its condition. Unless it is determined pursuant to Section $ that repair or
restoration is not econof~ically 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 damagi: to, or the taking of, the Property, Borrower shall be responsible for
repairing or restoring t!~e Property only if Lender has released proceeds for such purposes.
Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
progress payments as the work is completed. If the insurance or condemnation proceeds are not
sufficient to repair or re~tore the Property, Borrower is not relieved of Borrower's obligation for
the completion of such r:pair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property.
If it has reasonable cause}, Lender may inspect the interior of the improvements on the Property.
Lender shall give Boriower 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, Bo[rower 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
WY'O~[ING - single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form 3051 1/01
GMACM - VMS.0236.WY.(0001) (Page 8 of 18) hfitials~~
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 /)f Lender's Interest in the Property and Rights Under this Security
Instrument. If (a) Bor!:ower fails to perform the covenants and agreements contained in this
Security Instrument, (b'; there is a legal proceeding that might significantly affect Lender's
interest in the Property and/or rights under this Security Instrument (such as a proceeding in
bankruptcy, probate, tbr condemnation or forfeiture, for entbrcement of a lien which may attain
priority over this Secur ty Instrument or £o enforce laws or regulations), or (c) Borrower bas
abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate
to protect Lender's interest in the Property and rights under this Security Instrument, including
protecting and/or assessing the value of the Property, and securing and/or repairing the
Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a
lien which has priority over this Security Instrumem- (b) appearing in court; and (c) paying
reasonable attorneys' fees to protect its interest in the Property m~d/or rights under this Security
Instrument, including it..; secured position in a bankruptcy proceeding. Securing the Property
includes, but is not lira; ed to, entering the Property to make repairs, change locks, replace or
board up doors and windows, drain water from pipes, elinfinate building or other code
violations or dangerous conditions, and have utilities turned on or off. Althoug!~ 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 d:isbursed by Lender under this Section 9 shall become additional debt of
Borrower secured by thi Security Instrument. These amounts shall bear interest at the Note rate
from the date of disbum,ment and shall be payable, with such interest, upon notice t¥om Lender
to Borrower requesting payment.
If this Securit) Instrument is on a leasehold, Borrower shall comply with all the
provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee
title shall not merge unlt:ss Lender agrees to the merger in writing.
10. Mortgage Insurance. It' Lender required Mortgage Insurance as a condition of
making the Loan, Borrower shall pay the pren-dums required to maintain the Mortgage Insurance
in effect. If, 'for any reason, the Mortgage Insu'rance coverage required by Lender ceases to be
available from the mort,,:~,age insurer that previously provided such insurance and Borrower was
required to make separa*ely designated payments toward the premiums for Mortgage hrsurance,
Borrower shall pay the.premiums reqnired to obtain coverage substantially equivalent to the
Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to
BorroWer of the Mortg;:~ge Insurance previously in effect, l¥om an alternate mortgage insurer
selected by Lender· If substantially equivalent Mortgage Insurance coverage is not available,
Borrower shall continue to pay to Lender the an~ount of the separately designated payments that
were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain
these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss
reserve shall be non-reft ndable, notwithstanding the fact that the Loan is ultimately paid in full,
mid Lender shall not be requ!red to pay Borrower any interest or earnings on such loss reserve.
Lender can no longer ~equire loss reserve payments if Mortgage Insurance coverage (in the
LOAN NO: 5652611(4
WYOI¥IING: - Single Fanlily - Far:,lie MaetFreddie Mac UNIFORM INSTRUMENT Form 3051 1/01
GMACM - VMS.0236.WY (~,~001) IPage 9 of 18) Initials2: .~L._~
.... 395
amount and for the period that Lender requires) provided by an insurer selected by Lender again
becomes available, is obt'fined, and Lender requires separately designated payments toward the
premiums for Mortgage,. insurance. If Lender required Ivlortgage Insurance as a condition of
making the Loan and Bor:ower was required to make separately designated payments toward the
premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain
Mortgage Insurance in ~effect, or to provide a non-refundable loss reserve, until the Lender's
requirement for Mortgag:~ Insurance ends itl accordance with any written agreement between
Borrower mid Lender :providing for such ternfination or until termination is required by
Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the
rate provided in the Note.
Mortgage Insu~'-ance reimburses Lender (or any entity that purchases the Note) for
certain losses it may inct:r if Borrower does not repay the Loan as agreed Borrower ~s not a
party to the Mortgage InTsnrance.
Mortgage insurers evaluate their total risk on all such insurance in force from time to
time, mid may enter intc agreements with other parties that share or modify their risk, or reduce
losses. These agreemen3s are on terms and conditions that are satisfactory to tile mortgage
insurer mid the other party (or parties) to these agreements These agreements may require the
mortgage insurer to make payments using any source of funds thai the mortgage insurer may
have available (which may include fimds obtained from Mortgage Insuranee prenfiums).
As a result of 'ihese 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 modil~ying the mortgage insnrer's
risk, or reducing losses If such agreement provides that an affiliate of Lender takes a share of
the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is
often termed "captive reinsurance." Further:
(a) Any such ~igreements will not affect the amounts that Borrower has agreed to
pa)' for Mortgage Insttrance, or any other terms of the Loan. Such agreements will not
increase the amount Borrower will owe for Mortgage Inst,rance, and they will not entitle
Borrower to anyrefund.
(b) Any such agreements will not affect the rights Borrower has - if any - with
respect to the Mortgage Insurance under the IIomeowners Protection Act of 1998 or any
other law, These rightig may include the right to receive certain disclosures, to request and
obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance ternfinated
automatically, and/or I}o receive a refund of any Morlgage Insurance premimns that were
unearned at the time of Luch cancellation or termination.
11. Assignment of Miscellaneous Proceeds; Forl'eiture. All lvliscellaneous Proceeds
are hereby assigned to an6 shall be paid to Lender.
~VYOM[NG - Singlt: Family - Fan~'~i(; Mae/Frv. ddi¢ Mac UNIFORM INSTRUMENT Form 3051
. I
GMACM - VMS.0Z36.WY (0001) (Page 10 of]8)
'\
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration
or repair of the Property, if the restoration or repair is econormcally feasible and Lender's
security is not lessened During such repair and restoration period, Lender shall have the right
to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such
Property to ensure the work has been completed to Lender's satisfaction, provided that such
inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a
single disbursement or in a series of progress payments as the work is completed. Unless an
agreement is made in .writing or Applicable Law requires interest to be paid on such
Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings
on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
Lender's security would' be lessened, the Miscellaneous Proceeds shall be applied to the sums
secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
Borrower. Such Miscell,'meous Proceeds shall be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the
Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
whether or not then due, with the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which
the fair market value of the Property immediately before the partial taking, destruction, or loss
in value is equal to or greater than the amount of the sums secured by this Security Instrument
immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender
otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount
of the sums secured immediately before the partial taking, destruction, or loss in value divided
by (b) the fair market value cf the Property immediately before the partial taking, destruction, or
loss in value. Any balan:e shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which
the fair market value of the Property immediately before the partial taking, destruction, or loss
in value is less than the amount of the sums secured immediately before the partial taking,
destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
Miscellaneous Proceeds ,~hall be applied to the sums secured by this Security Instrument whether
or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower
that the Opposing Party (as defined in 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 the third party that owes Borrower Miscellaneous
Proceeds or the party ag.?nst whom Borrower has a right of action in regard to Miscellaneous
Proceeds.
LOAN NO: 565261104
WYOMING - Single Family - Famle Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01
GMACM - VMS.0236.WY (0~}01) (Page 11 of 18) Initia~
Borrower shall be in default if any action or proceeding, whether civil or criminal, is
begun that, in Lender's judgment, could result in forfeiture of the Property or other material
impairment of Lender's interest in the Property or rights under this Security Instrument.
Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in
Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
judgment, precludes forfeiture of the Property or other material tmpairment of Lender's interest
in the Property or rights under this Security Instrument. The proceeds of any award or claim for
damages that are attributable to the m~pairment of Lender's interest in the Property are hereby
assigned and shall be paid to Lender.
All Miscellaneoas Proceeds that are not applied to restoration or repmr of the Property
shall be applied in the or,~ler provided for in Section 2.
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of
the time for payment or mc~dification of amortization of the sums secured by this Security
Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not
operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender
shall not be required to commence proceedings against any Successor in Interest of Borrower or
to refuse to extend time for payment or otherwise modify amortization Of the sums secured by
this Security Instrument by reason of any demand made by the original Borrower or any
Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or
remedy including, without limitation, Lender's acceptance of payments from third persons,
entities or Successors in Interest of Borrower or in an~ounts less than the amount then due, shall
not be a waiver of or preclude the exercise of any right or remedy.
13. Joint and Several Liability; Co-signers; Successors and Assigns Bound.
Borrower covenants ant agrees that Borrower's obligations and liability shall be joint and
several. However, any Borrower who co-signs this Security Instrument but does not execute the
Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and
convey the co-signer's ir/terest in the Property under the terms of this Security Instrument; (b) is
not personally obligated :o pay the sums secured by this Security Instrument; and (c) agrees that
Lender and any other Borrower can agree to extend, modify, forbear or make any
accommodations with regard to the terms of this Security Instrument or the Note without the
co-signer's consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who
assumes Borrower's obligations under this Security Instrument in writing, and is approved by
Lender, shall obtain alt of Borrower's rights and benefits under this Security Instrument.
Borrower shall not be released from Borrower's obliganons and liability under this Security
Instrument unless Lende: agrees to such release in writing. The covenants and agreements of
this Security Instrument shall bind (except as provided in Section 20) and benefit the successors
and assigns of Lender.
WYOMING - single Family - Fam.ie Ivlae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01
GMACM - VMS.0236.WY (0~[101) (Page 12 of 18) hfiti- -:
14. Loan Ch:trges. Lender may charge Borrower fees for services performed in
connection with Borro,~,er's default, for the purpose ol' protecting Leuder's interest in the
Property and rights under this Security Instrument, including, but not lirrited to, attorneys' fees,
property inspection and valuation fees. In regard to any other fees, the absence of express
anthority in this Security Instrument to charge a specific l'ee to Borrower shall not be construed
as a prohibition on the charging of such fee Lender may not charge fees that are expressly
prohibited by this Secur,ty Instrument or by Applicable Law.
If the Loan is s,]k~ect to a law Which sets maximum Ioau chargeg, and that law is finally
interpreted so that the iqterest or other loan charges collected or to be collected in connection
with the Loan exceed the pem~itted limits, then: (a) any such loan charge shall be reduced by the
mnount necessary to red'tee the charge to the permitted limit; and (b) any sums already collected
from Borrower which ex,zeeded permitted limits will be refunded to Borrower. Lender may
choose to make this refund by reducing tbe principal owed nndcr the Note or by making a direct
payment to Borrower. .If a refund reduces principal, the reduction will be treated as a partial
prepayment without arty prepayment charge (whether or not a prepayment charge is provided for
under the Note). Borrower's acceptance of any such refund made by direct payment to
Borrower will constitute a waiver of any right of action Borrower. might have arising out of such
overcharge.
15. Notices. All Notices given by Borrower or Lender i.~ co~mection with this
Security Instrument must be in writing. Any notice to Borrower in conn,:ction 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
Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires
otherwise. The notice ~ddress 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 aedress. If Lender specifies a procedure for repo:ting Borrower's change
of address, then Borrower shall only report a change of address through that specified
procedure. There may be only one designated notice address under this Security Instrument at
any one time.' Any no ice to Lender shall be given by delivering it c~r by mailing it by first
class mail to Lender's }~ddress stated hereiu unless' Lender has designated anot!~er address by
notice to Borrower. An/notice in connection with this Security Instrun-,ent shall not be deemed
to have been given to Lender until actually received by Lender. If any: notice required by this
Security Instrument is alse required under Applicable Law, the Applicable Law requirement will
satisfy the corresponding requirement under this Security Iustrument.
16. Governing Law; Severability; Rules of Coustruction. T'fis Secttrity Instnunent
shall be governed by federal law and the law of the jurisdiction in which the Property is located.
All rights and obligations 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 con~ract or it might be silent, but such sileuce shall not be construed as a
LOAN NO: 565261104
'~l~l;Oh*tlN(~ -- Single Fmnily - FmnleMaelFteddle Mae UNIFORM NSTRUIvlENT Fonu 3051 1/01
GMAcM ~ VMS.0236.WY (/10~i)(PageJ3of] 8) [,litials~...~~
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 Security Instrument: (a) words of the masculine gender shall mean and
include corresponding rreut~r words or words of the fenfinine gender; (b) words in the singular
shall mean and include ~he plural and vice versa; and (c) the word "may" gives sole discretion
without any obligation to take any action.
17. Borrowet~"s Copy, Borrower shall be given one copy of the Note and of this
Security Instrument.
18. Transfer 0f t. he Property or a Beneficial Interest in Borrower. As used in this
Section 18, "Interest iv the Property" means any legal or beneficial interest in the Property,
including, but not lirnit,.-'.d to, those beneficial interests transferred in a bond for deed, contract
for deed, installment sa. es 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 Property or any Interest in the Property is sold or transferred
(or if Borrower is no~ a natural person and a beneficial interest in Borrower ts sold or
transferred) without Lerider's prior written consent, Lender inay require immediate payment in
full of all sums secured by this Security Instrument. However, this option shall not be exercised
by Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The
notice shall provide a period of not less than 30 days from the date the notice is gtven in
accordance with Sectionl 15 within which Borrower must pay all sums secured by this Security
Instrument. If Borrow6r fails to pay these sums prior to the expiration of this period, Lender
may invoke any remedi8s permitted by this Security Instrument without further notice or demand
on Borrower.
19. Borrower,s Right to Reinstate After Acceleration. If Borrower meets certain
conditions, Borrower s,hall have the right to have enforcement of this Security Instrument
discontinued at any tin,~e prior to the earliest of: (a) five days before sale of the Property
pursuant to any power '.of ,~ale contained in this Security Instrument; (b) such other period as
Applicable Law nfight specify forthe termination of Borrower's right to reinstate; or (c) entry of
a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays
Lender all sums which then would be due under this Security Instrument and the Note as if no
acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays
all expenses incurred in enforcing this Security Instrument, including, but not limited to,
reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred fur the
purpose of protecting Lender's interest in the Property and rights under this Security Instrument;
and (d) takes such actior., as Lender may reasonably require to assure that Lender's interest in the
Property and rights under this Security Instrument, and Borrower's obligation to pay the sums
secured by this Security Instrument, shall continue unchanged. Lender may require that
Borrower pay such reinstat~mem sums and expenses in one or more of the following forms, as
selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check
or cashier's check, pro','ided any such check is drawn upon an institution whose deposits are
insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer.
'~¥~IrO~'IIN'G - Single Family - Fa~ufie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3tl51 1/01
GMACM - VMS.0236.WY (i)001) (Page 14 of 18) Initial.
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 ~tcceleranon 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 ibis Security
Instrument and performs other'mortgage loan servicing obligations under the Note, this Security
Instrument, and Applicable ;Law. There also might 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, the address te which payments should be made and any other information RESPA
requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter
the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan
servicing obligations to Borrower will remain w~th the Loan Servicer or be transferred to a
successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided
by the Note purchaser.
Neither BorroWer nor Lender may conunence, join, or be joined to any judicial action
(as either an individual litigant or the member of a class) that arises from the other party's
actions pursuant to this Security Instrument or that alleges that the other party has breached any
provision of, or any duly owed by reason of, this Security Instrument, until such Borrower or
Lender has notified the ,)the,' party (with such notice given m compliance with the requirements
of Section 15) of such ~lleged breach and aftbrded the other party hereto a reasonable period
after the giving of suck notice to take corrective action. If Applicable Law provides a time
period which must elapse before certain action can be taken, that time period will be deemed to
be reasonable for purposes of this paragraph. The notice of acceleration and opportunity [o cure
given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower
pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective
action provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a~ "Hazardous Substances"
are those substances defined as toxic or hazardous substances, pollutants, or wastes by
Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic
petroleum products, to!tic oesticides and herbicides, volatile solvents, materials containing
asbestos or formaldehyoe, and radioactive materials; (b) "Enviromnental Law" means federal
laws and laws of the jurisdiction where the Property is located that relate to health, safety or
environmental protection; (c) "Environmental Cleanup" includes any response action, remedial
action, or removal acton, as defined in Environmental Law; and (d) an "Environmental
Condition" means a condition that can cause, contribute to, or otherwise trigger an
Environmental Cleanup.
Borrower shall no~ cause or permit the presence, use, disposal, storage, or release of any
Hazardous Substances, tlr threaten to release any Hazardous Substances, on or in the Property.
Borrower shall not do, nor a'.low anyone else to do, anything affecting the Property (a) that is ~n
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, creates a condition that
LOAN NO: 5652611£,4
~'YO]V-IINC~r - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01
GMACM - VMS.0236.WY (0001) (Page 15 of 18) hLitials: '-)c.~ ·
401
adversely affects the value of the Property. The preceding two sentences shall not apply to the
presence, use, or storage on~ the Property of small quantities of Hazardous Substances that are
generally recognized to be appropriate to normal residential uses and to maintenance of the
Property (including, but~not ~iimited to, hazardous substances in consumer products).
Borrower shall promptly give Lender written notice of (a) any investigation, clai~n,
demand, lawsuit or other action by any governmental or regulatory agency or private party
involving the Property ~nd any Hazardous Substance or Environmental Law of which 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 thc presence, use or release of a Hazardous Substance which adversely
affects the value of the Property. If Borrower learns, or is notified by any governmental or
regulatory authority, o: any private party, that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
necessary remedial actions in accordance with Environmental Law. Nothing herein shall create
any obligation on Lender for an Environmental Cleanup.
NON-UNIFOR.M COVENANTS. Borrower and Lender further covenant and agree as
follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to
acceleration following .Borrower's breach of any covenant or agreement in this Security
Instrument (but.not pr,lot to acceleration under Section 18 unless Applicable Law provides
otherwise). The notice, shall specify: (a) the default; (b) the action required to cure the
default; (c) a date, not less. than 30 days from the date the notice is given to Borrower, by
which the default must: be cured; and (d) that failure to cure the default on or before the
date specified in the notice may resnlt 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 defa:alt or any other defense of Borrower to acceleration and sale. If the
default is not cured o~ or before the date specified in the notice, Lender at its option may
require inunediate 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, 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 Section 15', Lender shall publish the notice of sale, and the Prope/-ty 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:, inqluding, but not limited to, reasonable attorneys' fees; (b) to all
sums secured by this Sect~rity Instrument; and (c) any excess to the person or persons
legally entitled to it.
WYOMING - single Family -- Far. hie Mae/Freddie Mac UNIFORM INSTRUMENT Fmma 3051 1/01
GMACM- VMS.0236.WY ((}O01) '(Page~i 16 of 28) luitials~
23. Release. U )on payment of 'all sums secured by this Security Instrument, Lender
shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may
charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third
party for services rendered and the charging of the fee is pernfitted undei' Applicable Law.
24. Waivers. Borrower releases m~d waives all rights under and by virtue of the
homestead exemption law:~; of Wyoming.
BY SIGNING I'ELOW, Borrower accepts and agrees to the temps and covenants
contained in this Security Instrument and in any Rider executed by Borrower and recorded with
it.
(Seal)
-Borrower
(Seal)
-Borrower
LOAN NO: 565261194
Witnesses:
W~OM[NG - Single Fmnily - Falllli, Mae/Freddie Mac UNIFORM INSTRUIvlENT Form 3051 Il01
GMACM - VMS.0236.WY (0O01) (Page 17 of 18)
433
INDMDUAL ACICNOWLEDGMENT
STATE OF WYOMING~ )
COUNTY oF ~---,~.~J )ss
)
The foregoi.ng instrument was acl, mowledged before me this
I
May 28, 2004
by
John S. Hart,nan an.d Karen K. Hartman, husband and
wife.
(person acknowledging)
My Commission Expires:?
Notary Public
WYOMING - Single Family - Fannie ,Mae/Freddie Mar: UNIFORM INSTRUMENT Form 30SI l/fit
GMACM - VMS 0236.WY (0(~01) (Page 18 of 18) l,titials: 7~7~ .
494
Schedule A
Wyoming Mortgage
Given By: John S. Hartmar. and Karen K. Hartman
Page 1
Lot C-2 of Rivervzew Yiownhomes West Addition to the Town of
Alpine, Lincoln County, Wyoming according to that plat filed
Noven%ber 27, 2001 in the Office of the Lincoln County Clerk as
Plat No 188-B.
PLANNED UNIT DEVELOPMENT RIDER
THIS PLANNED UNIT DEVELOPMENT RIDER is made this 28th day of
May , ',2004 , and is incorporated into and shall be deemed to amend and
supplement the Mortgage', Deed of Trust, or Security Deed (the "Security Instrument") of the
same date, given by the undersigned (the "Borrower") to secure Borrower's Note to
GMAC Mortgage Corporation
(the "Lender") of the same date and covering the Property described in the Security Instrument
and located at:
504 Snake River Drive, C2
Alpine, WY 83128
[Property Address]
The Property includes, but is not limited to, a parcel of land improved with a dwelling, together
with other such parcels anti certain common areas and facilities, as described in
(the "Declaration"). The .Property is a part of a pla]reed unit development known as
Riverview Meadows
[Name of Planned Unit Development]
(the "PUD"). The Property also includes Borrower's interest in the homeowners association or
equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners
Association") and the uses, benefits and proceeds of Borrower's interest.
PUD COVENANTS. In addition to the covenants and agreements made in the Security
Instrument, Borrower and Lender further covenant and agree as follows:
A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the
PUD's Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii)
articles of incorporation, ;rust instrument or any equivalent document which creates the Owners
Association; and (iii) any by-.laws or other rules or regulations of the Owners Association.
Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the
Constituent Documents.
B. Property Insurance. So long as the Owners Association maintains, with a generally
accepted insurance carrier, a "master" or "blanket" policy ~nsuring the Property which is
satisfactory to Lender and which provides insurance coverage in the amounts (including
deductible levels), for the periods, and against loss by fire, hazards included within the term
"extended coverage," and an3; other hazards, including, but not limited to, earthquakes and
floods, for which Lender requires insurance, then:
LOAN NO: 565261104
MULTISTATE PUD RIDER - Single Family -
Fannie Mae/Freddie Mac Uniform Instrument Form 3150 1/01
Page 1 of 3 2509605¢4 Initials: '~
GMACM - CRM.OO44.PUD IOLO1! ~
/
.-
(i) Lender waives the provision in Section 3 /'or the Periodic Payment to Lender of the
yearly premium installments for property insurance on the Property; and
(ii) Borrower's obligation under Section 5 to maintain property insurance coverage on
the Property is deemed satisfied to the extent that the required coverage is provided by the
Owners Association policT.
What Lender requires as a condition of this watver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance
coverage provided by the master or blanket policy.
In the event of a distribution of property insurance proceeds in lieu of restoration or repair
following a loss to the P;operty, or to common areas and facilities of the PUD, any proceeds
payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the
proceeds to the sums secured by the Security Instrument, whether or not then due, with the
excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to
insure that the Owners gssociation maintains a public liability insurance policy acceptable in
form, amount, and extent of coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or
consequential, payable to Borrower in connection with any condenmation or other taking of all
or any part of the Property or the common areas and facilities of the PUD, or for any
conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such
proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided
in Section 11.
E, Lender's Prior Consent. Borrower shall not, except after notice to Lender and with
Lender's prior written cop~sent, either partition or subdivide the Property or consent to:
(i) the abandoranent or termination of the PUD, except for abandonment or
termination required by law in the case of substantial destructmn by fire or other casualty or in
the case of a taking by condenmation or eminent domain;
(ii) any amendment to any provision of the "Constituent Documents" if the proviston is
for the express benefit of ;Lender;
(iii) termination of professional management and assumption of self-management of the
Owners Association; or
(iv) any action which would have the effect of rendering the public liability insurance
coverage maintained by the Owners Association unacceptable to Lender.
F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender
may pay them. Any amounts disbursed by Lender under this paragraph F shall become
additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender
agree to other terms of pagment, 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.
LOAN NO: 565261104
MULTISTATE PUD RIDER - ~ingle Family - Fannie Mae/Freddie Mac Uniform Instrument Form 3150 1/01
GMACM - CRM.0044.PUD (01011 Page 2 ol~ 3 Initials: "~r.~-/tjT~'-
BY SIGNING BELOW, Borrower accepts m~d agrees to the terms and provisions contained
this PUD Rider.
John Sf H~rtman ~ (Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
LOAN NO: 565261104
MU LTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac Uniform Instrument Form 3150 1/01
GMACM - CRM.0044.PUD ;0101) Page 3 of 3
VA LOAN RIDER
NOTICE: THIS LOAN IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE DEPARTMENT
OF VETERANS AFFAIRS OR ITS AUTHORIZED
AGENT.
THIS VA LOAN RIDER is made this 28th day of Hay ,
2004 , and is incorporated into and shall be deemed to amend and supplement the
Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the stone date given
by the undersigned (the "Borrower") to secure Borrower's Note to
GMAC Mortgage Corporation
(the"Lender") andcoveriagthePropertydescribedintheSecuritylnstrumem andlocatedat:
504 Snake River Drive, C2
Alpine, WY 83128
[Property Address]
VA GUARANTEED LOAN COVENANT: In addition to the covenants and agreements
made in the Security Instrument, Borrower and Lender further covenant and agree as follows:
If the indebtedness secured hereby is guaranteed or insured under Title 38, United States
Code, such Title and Regulations issued thereunder and in effect on the date hereof shall govern
the rights, duties and liabilities of Borrower and Lender. Any provisions of the Security
Instrument or other instraments executed in connection with said indebtedness which are
inconsistent with said Titi(e or Regulations, including, but not limited to, the provision for
payment of any sum in connection with prepayment of the secured indebtedness and the
provision that the Lende[ may accelerate payment of the secured indebtedness pursuant to
Section 18 of the Security Instrument, are hereby amended or negated to the extent necessary to
conform such instruments to said Title or Regulations.
LOAN NO: 565261104
MULTISTATE VA LOAN RIDER
Page ] of 3 250960545 Initials:
GMACM - VRM.0241 10310} ~,-"-~'~..,,,.~-~
.... -4 9
TRANSFER OF THE PROPERTY: If all or any part of the Property or any interest in it
is sold or transferred, this loan may be declared inunediately due and payable upon transfer
("assumption") of the property securing such loan to any transferee ("assumer"), unless the
acceptability of the assumption and transfer of this loan is established by the U. S. Department
of Veterans Affairs or its aathorized agent pursuant to 38 U.S C. 3714.
An authorized transfer ("assumption") of the property shall also be subject to additional
covenants and agreements as set forth below:
(a) ASSUMI~ION ]~XINDING FEE: A fee equal to one-half of 1 percent (.50%) of the
unpaid principal balance of this loan as of the date of transfer of the Property shall be payable at
the time of transfer to the Loan Holder or its authorized agent, as trustee for the U. S.
Department of Veterans Affairs. If the assumer fails to pay this fee at the time of transfer, the
fee shall constitute an additional debt to that already secured by this ~nstrument, shall bear
interest at the rate herein provided, and, at the opnon of the payee of the indebtedness hereby
secured or any transferee thereof, shall be immediately due and payable. This fee is
automatically waived if the: assumer is exempt under the provisions of 38 U.S.C. 3729 (c).
(b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow
assumption and transfer of this loan, a processing fee may be charged by the Loan Holder or its
authorized agent for deten-nining the creditworthiness of the assumer and subsequently revising
the Holder's ownership records when an approved transfer is completed. The amount of this
charge shall not exceed the maximum established by the U. S. Department of Veterans Affairs
for a loan to which 38 U.S.C. 3714 applies.
(c) ASSUMPTION ~'NDEMNITY LIABILITY: If this obligation is assumed, then the
assumer hereby agrees to assume all of the obligations of the veteran under the terms of the
instruments creating and securing the lohn, including the obligation of the veteran to indemnify
the U. S. Department of Veterans Affairs to the extent of any claim payment arising from the
guaranty or insurance of the indebtedness created by this instrument.
Tills SPACE INTENTIONALLY LEFT BLANK
LOAN NO: 565261104
MULTISTATE VA LOAN RIDER
GMACM-VRM.0241 103101
Page 2 of 3
Initi~
IN WITNESS WHEI, tEOF. Borrower has executed this VA Loan Rider.
John S. Hartman
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
LOAN NO: 565261104
MULTISTATE VA LOAN RID[R
GMACM - VRM.0241 (0310l
Page 3 of 3