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HomeMy WebLinkAbout8998848 9 9 8 8 4 RECEIVED "' ~ '~', ~L!'~ CuLl,,,l, ~ CLERK Afle~ Record~g Retun~ To: FIRST BANK OF IDAHO, D/B/A FIRST BA/qK OF P.O BOX 12860 JACKSON, WY 83002 Ti{E TETONS [Space Above This Line For Recording Dat,a] DEFINITIONS MORTGAGE HEI~lqERT LOAN #: 494012556 MIN= 100174102000010696 PIN 9, 3%181720021900 Words used m multiple secfion.q of this doctm~ent are de£med below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules'regarding the usage of words used m this document are also provided in Secnon 16. (A) "Security Instrument" me,ms this document, which is dated MAY 25, 2004 togefl~er with all Riders to this document. ~.:~ .~- (Il) "Borrower" is h. DEE }IEMIxlERT AND JAlq-YCE HEMI,f~RT, HIISBAN'D AND WIFE, AS TENANTs BY TIlE ENTIRETIES B_o. rrower is the mortgagor unde? this Secur/ty Instnmmnt . (C) MERS ~s Mortgage Electromc Registration Systems Inc. MERS is a separate corporation that is acting solely as a nominee for Lender md Lender's successors and assigns. MERS is the mortgagee under this Secm-ity Instrument. MELTS is organ/zed and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" m FIRST BA_~( OF IDA_KO, FSB, DBA FIRST BANK OF THE TETONS Lender is a CORPORATION laws of IDAHO organized and exishng under' the 170 E BROADWAY JACKSOI~', WY 83002 .Lender'saddressm P.O.BOX 12860 / (E) "Note" means the promisso]'y note signed by Borrower and dated I~Ay 25, 2004 Thc Note states that Borrower owes :Lender ONE I-FUNDRED FORTY-ATINI{ TPIOTJSAATD THREE HUlffDRED FIFTY AND 00/100 Dollars (U.S $ 14 9,3 5 0 . 0,] ) plus interest. Borrower has promised to pay this debt m regular Periodic Paymen,:s and to pay the debt in full not later tha , (F) ,~Property,, means the nronerru that is ,i~o~.~u~, ,_ ...... n,.J'Ul, rE 1, 2034 *- r --j ~o,~t~.Jcu o~tOW tlllGer Ule ~ " - - - (G) "Loan" means thc d ,,,;n ......~ ,. .......... . neaamg Transfer ot Rights ~n the Prooerty." under the Note, and all sune~t ........... y mc t'~ote, pros interest, any prepayment charges and late cha~ges due due under riffs Security Instrument, plus hiterest. ~V¥OM1NG - Single Family - Fannie NIaedFreddie Mac UNIFORM INSTRUMENT DOCUKWy ~ ~ocume~.~,~r ]-o/x?/2oaa (Page I of l3 pages) Form 3051 1/01 5--25--04;12:43PM;F RST BANF: 494012586 OI) "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. [] Balloon Rider [] 1-4 Family Rider [] Condominium Rider [] Plmmed Unit Development 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 adininistrative roles and orderis (fi~at have the effect of law) as well as all applicable final, non-appealable judicial opinions. ' (J) "Community Association Dties, Fees, and Assessments" means all dues, fees, assessments and oilier charges that are imposed on Borrower orithe Property by a condominium association, homeowners associatiou or similar organ/zation. ,. (K) "Electronic Funds Transfer" means any transfer of funds,' other than a transaction originated by check, &afl, or sinfilar paper insh-ument, whica is initiated through an electronic tmminal, telephonic instrument, computer, or magnetic tape so as to order, :'instruct, or auihorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, n'ansfers imtiated by telephone, wire ta'ansfers, and automated clearinghouse ~ansfers. (L) "Escrow Items" means those items that are described m Section 3. (M) "Miscellaneous Proceed? means any compensation, settlement, award of danmges, or proceeds paid by any third party (other than insurance Proceeds paid under the coverages described in Section 5) for: (i) dankage to, or destruction of, the Property; (ii) ctndenmation or other talcing of all or any part of the Property; (iii) conveyance in lieu ofconderrmation; or. (iv) mlsr~;presentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amom~t due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of tiffs Security Insmm~ent. (P) "RESPA" means the Real' Estate Settlement Procedures Act (12 U.S.C. {}2601 et seq.) and its implementing regulation, Regulation X (24 C.F.~!L Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulahon that g0vems the same subject matter. As used in tiffs 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" uuder RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Bo~Tower's Obligations under the Note and/or this Security Instnnnent. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repasqnent of thc Loan, and all ~enewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For ti'tis purpose, Borrower does hereby mortgage, grant aud convey to MERS (solely as nominee for Lender and Lender's Successors and assigns) and to the successors and assigns of MERS, and £ender's successors 'and assigns, with po'a'erl of sale, the following described property located h~ the COUNTY · of L IAICOLN (Type of Recording Jurisdictio~i~) (Name of Recording Jurisdiction) LOT 3 OF I{AYSTACK NO :2 SUBDIVISION, ACCORDING TO THAT PLAT RECORDED IN THE OFFIC;~ OF COUNTY CLERK, LINCOLN COUNTY, WYOMING. which currently has the address of 24 6 F--k.RA STRE~--T THAYNE ,WYoming 83127 [City] [Zip Code] %VYOMING - Single Family - Fan,in Ma~Freddi¢ Mac UNIFO~ INSTRUMENT &age 2 qfl3 page) [Street] ,,p ( roperty Address"). Form 3051 l/fl1 494012585 TOGETHER WITH all the improvements no~v or hereafter erected on tile property, and all easements, appurtenances, and fixtnres now r.,r hereafter a par[ of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to itt this Security Instrument as the "Property." Borrower understands and agrees that' MERS holds only legal title to the interests granted by Borrower m this Secm'ity Instrnment, but, if necessary .to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the ri~i;ht: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Prope~ty;i and to take arty action reqmred of Lender including, but not linfited to, releasing and canceling this Security Insmdnenl:. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has tile right to mortgage, grant and corn ey the Propelxy and that the Property is nnencumbel-ed, excep! for encumbrances of record. Bon:ower warrants and will defend generally the title to tile Property against all claims and demands subject to any encumbrances of re.cord. , THIS SECURITY 1NSTRUqVlENT combines uniform covenants for national nsc attd non-nniform covenants with limited variations by jnrisdiction to constitute a nnifom~ security instn~ment, cove,-ing real property. UNIFORM COVENANTS Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Ese,-ow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal 'of, and interest o'n, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Bon'ower shall also pay funds tbr Escrow Items pursuant to Section 3. Payments due nnder the Note and this Security Instrument shall be made m u.s curt'ency. However, if any check or other instnnnent received by Len~er ~'s payment under the Note or this Security Instrument is retm-ned to Lender nnpaid, Lender may require that a'sy or all subsequent payments due trader' the Note and this Security Instrmnent be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasnrer's check or casl,.ier's check, provided any such check is drawn upon all institution whose deposits are insured by a federal agency, msn'umentality, or entity; or (d) Electronic Fnnds Transfer. Payments are deemed receive'~l by Lender wheu received at the location designated m the Note or at such other location as may be designated by'.Lender in accordance with the notice provisions in Section 15. Lender may remm any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan cmTent, without watver of any rights hereunder or prejudice to its. rights to refi~se such payment or partial payments in the fiiture, but Lender is not obligated to apply such payments fat thq, time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay iuterest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment ,:o bring the Loan current. If Borrower does not do so w/thin a reaso'uable period of time, Lender shall eithm- app;y such funds or retm-n them to Bon'ower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosnre. No offset or claim which Borrower might ha:ce now or in the furore against Lender shall relieve Bon'ower from making payments due nnder the Note and :this Security Insnxnnent or perfornfing the covenants.and agreements secnred by this Security In~t]'ument. : 2. Application of Paym{:nts or Proceeds. Except as othenvise described in this Section 2, all payments accepted and applied by Lender shall bs applied m the following order of priority: (a) interest due under the Nole; (b) principal due nnder the Note; (:c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment itt the order in which it became due. Any remaining amonnts shall be applied first to late charges, second to any other amounts due under thi~ Security htstrument, and then to reduce the principal balance of the Note. If Lender receives a payrrent flora B0n'ower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge duc, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is ontstanding, Lender may apply any payment received flora Bon'ower to the repayment of the Periodic Payments it; attd to the extent that, each payment can be paid itt fi. HI. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, soch excess may be applied to any late charges due. Voluntaly prepayments shall be applied first to any prepayment charges and then as described in the Note. WYOMING - Single Family - Fan.lc Mtie/Fred,~ie Mac UNIFORM INSTRUMENT Form 3051 1/01 r)ocmcwy~ (P~tge 3 o fl3 pages) 494012586 Any application of pagments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpon~e the due date, or change the anrount, of the Periodic Payments. 3. Funds for Escrow I~ ems, Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in f_tll, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items wh/,ch can attain priority over this Security Insmnnent as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premmn~s, if any, or any sums payable by Borrower to Lender in lieu of tt~,e payment of Mortgage Insurance prenfiums in accordance With the provisions 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 Comanunity 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 fi~rnish to Lender all notices of amounts to be paid tinder this S~ction. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation Io Fay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lende[ Funds for any or all Escrow Items at any lime. Any such waiver may only be in writing. In the event of such waiveL Bo~:ower shall pay directly, when and where payable, the a~nounts due for any Escrow Items for which pa)anent of Fnnds has been waived by Lendel' and, if Lender requires, shall fi~rnish to Lender receipts evidencing such payment xvithin such rune period as Lender nmy require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the pln'ase "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 tinder Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any su~zh 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 st,ch revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any tin?,, collect and hold Fnnds ~n au amount (a) sufficient to pernfit Lender to apply the Funds at the time specified und{':r RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate lhe amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow It~!m~s or otherxvise in accordance with Applicable Law. The Funds shall be heht in an institution whose deposits are insured by a federal agency, instrmnentality, 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 Fu!~ds :to pay the Escrow Items no later than the time specified tinder RESPA. Lender shall not charge Borrower for holding and applying the Funds, ammally analyziug the escrow account, or verifying the Escrow Items, unless Lende~ pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreerr;ent js made in writing or Applicable Law requires interest to be paid onthe Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that intere¢t shall be paid on the Funds. Lender shall give to Bon'ower, without charge, an. anuual accounting of the Funds as required by RESPA. If there is a surplus of ?'unds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess fimds in accordance with RESPA. If there is a shorlage of Funds held in escrow, as defined tinder ILESPA, ·Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shorta£e in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined tinder RESPA, Lender shall notit~ 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 m fidl of a~ll sums secured by this Security Instrument, Lender shall promptly refi~nd to Borrower any Funds held by Let. der. 4. Charges; Liens. Bo-rower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instmn~ent, leasehold pa)qnents or ground rents on the Property, if any, and Conmaunity Association Dues, Fees, and Assessmeuts, it' any. T0 the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promp':ly discharge any lien which has priority over this Security Instrument nnless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien m a manner acceptable to · Lender, but only so long as Borrower is perfornfing 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 of 13 pages) DOCUKWY~ .VTX 10/17/2000 494012586 defends against enforcement of the ~ien in, legal proceedings which in Lender's opinion operate to prevent tile enforcement of the lien while thos;e proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the l'.en an agreement satisfactory to Lender subordinating the lien to this Security Instl~mem. If Lender determines :hat any part of the Propmxy 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 tile date on which that notice is given, Borrower sha:!l satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Bon;ower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in comlect.ion with this Loan. 5. Property Insnrance. Borrower shall keep the Improvements now exismlg pt hereafter erected on the Property insured against loss by f;re, ilazards included within tile term "extended coverage," and any other hazards including, but not linfited to, earthquakes and floods, for which Lender reqmres xnsurance. This insnrance shall be maintained in the amounts (including deductible levels) and for the periods flint Lender requu'es. What Lender reqmres pursuant IO tile precedihg sentences can change during the teml of the Loan. The msm-ance carrier providing the insurance shall be :hosen by Borrower subject to I.ender's right to disapprove Borrower's choice, which right shall not be exercised -:.lm'dasonably. Lender may require Borrower. to pay, m connection with this Loan, either: (ap a one-time charge roi' flood zone determination, certification and tracking services; or (bp a one-time charge tbr flood zone determination and certification services and subsequent charges each time relnappings or similar changes occur which reasonably n-fight affect such detemfination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency itl connection with the review of any flood zone deternrination resulting from an objectiou by Borrower. If Borrower fails to maiufain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Bon'ower's~ expense. Lender is tinder no obligation to purchase any particular type or amount of coverage. Therefore, such cov::ra'ge shall cover Lender, but might or nfight not protect Bon'ower, 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. B01xower acknowledges that the cost of the insurance coverage so obtahled nfight significantly exci:ed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender tinder this Section 5 shall become additional debt of Bolxower secured by this Secnrity Instrument. These amounts shall l~ear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice titan Lender to Borrower requesting payment. All insnrance 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 mortgagee and/or as an additional loss payee. Lender shall 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 ally form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as modlgagee and/or as an additional loss payee. In the event of loss, Bor.'ower shall give prompt notice to the msm'ance camm' and Lender. Lender may make proof of loss if not made promptly by Bon:ower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or no't the: underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the fei;rotation or repair is econonfically feasible and Lender's security is not lessened. During such repair and restoratiot:', period, Lender shall have the right to hold such insurance proceeds nntil 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 ill 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 r!~quires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any inte:,:est or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid· out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not ecm)om/cally feasible or Lender's security xvould be lessened, the insm'ance proceeds shall be applied .to the sums seem:ed by this Security Instrumeut, whether or not then due, with the excess, if adty, paid to Borrower. Such insurance proceeds shall be applied in the orde,' provided for in Section 2. If Borrower abandons the Progerty, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does imt ~espond within 30 days to a notice fi'om Lende,- that the insurance camm-has WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY5 (Page 5 of 13 pages) DOC~'KWY5. VTY 10/17/2002 ~, '~ offered to settle a claim, then Limder may negotiate and settle the claim. The 30-day period will begin xvhen the notice is given. In either event, c,r if' Lender acqutres the Property uuder Section 22 or otherwise, Bon'ower hereby assigns to Lender (a) Bon'ower's rights to any insurance proceeds m au amount not to exceed the amounts unpaid under the Note o,' this Security In'strmnent, and (b) any other of Borrower's rights (other than tbe righ! to any refi~nd of unearned premiums paid by B orrQwer) nnder 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 nnpm~.d nnder the Note or this Security Insmunent, whether or not then due. 6. Occupancy. Bon'owi:r. s?:~all occupy, establish, and use the Property as Bon-ower's principal residence within 60 days after the execuhon of this Security Instrument aud shall continue to occupy the Property as Borrower's principal residence. ~)r at. least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall no-' be! um'easonably xvithheld, or nnless extem~ating circnmstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair tile Property, ~)low the Property to deteriorate or comnfit waste on the Property. Whether or not Borrower is residing in the Property, Bon-ower shall maintain the Property in order to prevent the Property fi'om deteriorating or decreasing in value due to its condition. Unless it is deternfined pursuant to Section 5 that repair or restoration is not economically t~as:ible, Borrower shall promptly repair the Property if damaged to avoid fimher deterioration or damage. If insu'-ance or condenmation proceeds are paid in co~mection with damage to, or the taking of, the Property, Borrower shall be responsible lbr repairing or restoring the Property only if Lender has released proceeds for such pu~?oses. Lender may disbm'se proceeds for the repairs and restoration in a single payment or in a series of progre~ss payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or ~estore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may ma~e reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improve~nents on the Property. Lender shall give Borrower notice at the time of or prior to such an int~h'ior inspection specifying such reasonable cause. 8. Borrowe,"s Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, o:" inaccm'ate information or statements to Lender (or failed to provide Lender with material ilffonmtion) in cc'rmection xvith 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;r's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenmts and agreements contained in this Secnrity Instrument, (b) there is a legal proceeding that might significaatly affect Lender's interest in tile Property and/or rights under this Security Instrument (snch as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over .:bis Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lende[ 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 linfiled to: (a) paying any sums secured by a lien wlfich has priority over this Security Instrmnent; (b) appearing in court; and (c) paying reasonable attorneys' fee~'; to protect its interest in the Property and/or rights under tbis Security Instrument, including its secured position in a. bmga-nptcy pr0ceedmg. Securing the Property includes, but is not limited to, entering the Property to make r~.Pairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or othsr code violations or dangerous conditions, and have ntilities turned on or off. Althongh Lender may take action nnder this Section 9, Lender does not have to do so and is not under ally duty or obligation to do so. It is agreed that 'Lender incnrs no liability for not taking any or all actions at, thorized under this Section 9. Any amonuts disbursed'.by Lender under this Section 9 shall become additional debt of Bon'ower secured by this Security hlstrument. The~e amounts shall bear interest at tile Note rate titan the date of disbursement and shall be payable, with such interegt, u~pon notice from Lender to Bon'oxver requesting payment. ' If this Security Instrnm~imt ~.s on a leasehold, Borrower shall comply with all the provisions of tile lease. Bon'ower shall not sorrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Bon-ower shall not, witl~on(,the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee title to thai: Property, the leasehold and the fee title shall not merge unless Lender agrees to the ~nerger in writing. ~ WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUM£NT Form 3051 1/01 DOCUKWY6 (Page 6 of t $ pages) DOCUK}/Y6 .VTX 10/1'//2002 ~ ' 49~012586 10. Mortgage Insurance, If Lender required Mortgage Insurance as a condition of making tile Loan, Borrower shall pay the premiuprs required to maintain the Mortgage Iusurance in effect. If, for any reason, tile Mortgage Insurance coverage required by Lender ceases to be available fiom the mortgage insurer that previously provided such insurance and Bon'ower was required to make separately designated-paynients toward the premmms for Mortgage Insurance, Borrower shall pay the prenfiums required to obtain coverage substantially equivalent to the Mortgage Insurance previ(usly in effect, at a cost substantially equivalent to the cost to Bon'ower of the Mortgage Insurance previously! in,effect, fi'om an alternate mortgage insurer selected by Lender. If snbstantially equivalent Mortgage Insurance i:coverage is not available, Borrower shall continue to pay to Lender the mnotmt of the separately designated paym',snts that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refnndable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundables, notwithstanding the fact that the Loan is ultmmtely paid in full, and Lender shall not be required to pay Borrower a3y interest or earnings on such loss reserve. Lender can no longer reqtfire loss reserve payments if Mortgage Ihsurance coverage (in the amount and tbr the period that Lender requires) provided by an insurer selected by Lender a~ain becomes available, is obtained, and Lender requires separately designated payments toward the premnuns for~ Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Bon-ower was required to make separately designated payments toward the premn, ms for Mortgage Insurance, Borrower shall pay the premiums required to ntaintam Mortgage Insurance in effect, or to provide a non-refi~ndable loss reserve, until Lender's requirement for Mo~qrgage Insurance ends ill accordance with any written agreement between Borrower and Lender providing for such termination or until tenmnation is required by Applicable Law. Nothing in this Section 10 affects Borrower's obliganon 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 Bolxower does not repay the Loan as agreed. Bon'ower is not a party to the Mortgage Insm'ance. Mortgage insurers eva]uate their total risk on all such insm-ance in force t¥om 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 satisfactory to Ihe mortgage insurer and the other party (or parties) to these agreements. These agreements may require lhe mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of i.~ny of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Moxlgage Insurance, iii exchange for sharing or modifying the mortgage insurer's r:~sk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's ri;k in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance.' Further: (a) Any such agreeing)uts Will not affect the amounts that Borrower has agreed to pay for Mortgage htsurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and {,.hey 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 nnder t;~e Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurhnce terminated automatically, and/or to receive a refund of any Mortgage Insnrance premiums that were nnearned at the time of such ca ucella tion or ternrination. 11. Assignment of Mi?cellaneous 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 ~epais' is economically feasible and Lender's security is not lessened During such repair and restoration period, Lt;nder 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 undmtaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress pay~nents 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 Bmxower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not econonfically feasible or Lender's security would De lessened, the Miscellaneous Proceeds shall be applied to the sums secured by WYOMING - Single Family - Fannie Mae/2~reddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY7 (Page 7 of 13 pages) uoeu~7 .VWX 10/17/2002 494012586 this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided lbr in Section 2. In thc eveut of a total raking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured Iby ~his Security Instrumeut, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, deStnlction, or loss m value of the Property in which the fair market value of the Property immediately before the pmtial taking, desn-uction, or loss m value is equal to o[ greater than the amount of the sums secured by this~Security Instrument inm]ediately before tile partial taking, destruction, or loss in value, unless Borrower and Lepdertotberwise agree in xwiting, the sums secured by this Security Insm}ntent shall be reduced by the amount of tile Mist[ellaneous Proceeds multiplied by the tbllowing fraction: (a) the total amount of the sums secured immediately ,efore the partial taking, destruction, or loss m value divided by (b) the fair market value of the Property immediately before the partial ta -king, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of tile Property m whiclt the fair market value of the Property irmnediately before the partial taking, destruction, or loss in value is less than the amounl of the sums secured immediately betbre the partial taking, destruction, or loss in value, unless Borrower and Lender othelwvise agree in writing, the Ivliscellaneous Proceeds shall be applied to the sunu seem-ed by this Security Instrument whether or not the sums are then due. If the Propmly is abandoued by Borrower, or if, arieL' notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make alt award m settle a claim for damages, Bon-ower 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 thea due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the pmly against WilO~X~ Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in deIhult if any action or proceediug, whether civil or crinfinal, is begun that, iu Lender's judgment, could resull; in ]orfeimre of the Property or other material impairment of Lender's interest in the PropeLly or rights under this 'Security Instrument. Borrower call cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be disnfissed with a ruling that, in Lenderis judgment, precludes fc, rfeimre of the Property or other material impairment of Lender's interest in the Propelty or rights under this iSecurity Instrument. The proceeds of any award or claim for damages that are attributable to the impairment o'fLender'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 Sectio;i1 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Bprrc~wer shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to conmaence proceedings against any Successor in Interest of Borrower or to retiree to extend ti::ne for payment or othemqse modify amortization of the sunu secured by this Security Instrument by reason of ~any demand made by the original Borrower or any Successors in Interest of Bon'ower. 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 amouuts less than the amount then due, shall not bea ~vaiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Bon:ower 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 execute tlie Note (a "co-signer"): (a) is co-signing this Security Instrmnent only to mortgage, grant and convey the co--signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay tte sums secured by this Security Iustrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any acconm~odations with regard to the terms of tiffs Security Instrument or the Note wi(lout the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security InStrument in writing, and is approved by Lender, shall obtain' all of Bonower's rights 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 %V¥OMING- Single Family - Fan.lc Ma,qFreddie Mac UNIFORM INSTRUMENT Form 3051 1/01 r~ocul~wv8 (/)age 8 of 13 pages) DOCI~KW3f 8 .VTX 10/1712000 494012586 agreements of this Security Insmm;Lent 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 perfolTned in connection with Bon'ower's default, for the purp6se of protecting Lender's interest in the Property and rights nnder this Security h~strument, including, but not limffed to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express; a lthority in this Secnrity Instnnnent to charge a specific fee to Bon'ower shall not e construed as a protnbition on ':he' charging of such fee. Lender nray not charge fees that are expressly prohibited by this Security Instrument or by .i4t:~:Plicable Law. If the Loan is subject to !a !aw which sets maximun~ loan charges, and that law is finally intmpreted so that the interest or other loan charge:; collected or to be collected m conuectiou with' the Loan exceed the pem~itted limits, tben: (a) any such loan chai'ge shall be reduced by the amount necessary to rednce the charge to the pernfitted limit; and (b) any sums already collected fi'om Borrower ~vhich exceeded pernfitted linfits will be refimded to Borrower. Lender nmy choose to make this refiind by reducing the principal owed under tbe Note or by making a direct payment to Borrower. If [ r?fimd reduces principal, the reduction will be treated as a partial prepayment withont any prepayment'charge (.wl~ether or not a prepayment charge is provided for nnder the Note). Borrower's acceptance of any such retired n~ad', TM by direct paytnent to Borrower will constitute a waiver of any right of action Borrower nfight have arising out of snch overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Insmm~ent must be in writing. Any notice to Borrower in cormection with this SeCurity Instrument shall be deeined to have been given to Borrower when mailed by firs/class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower bas designated a substitute notice address by notice to Lent,er. Borrower shall promptly notify Lender of Borrower's change.of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified pr'ocedure. There may be only one designated notice address under this Secnrity Instalment at any oue time. Any :aotice 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 Security Instrument sball not be deemed to have been given to Lender until actually received by Lender. If any notice required.by this Security Instrunrent is also required tinder Applicable Law, the Applicable Law requirement will satisfy the don:esponding requirement tinder this Secmity Instrument. 16. Governing Law; Severability; Rnles of Construction. This Security Instrument sball be governed by federal law and the law of the jusisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and lmfitations of Applicable Law. Applicable Law nfight explicitly or implicitly allow the* parties to agree by contract or it might be silent, but snch silence shall not be construed as a prohibition againslt agreement by contract. In the event that any provision or clause of this Security Instntment or the Note conflicts CAth Applicable Law, snch couflict shall not affect other provisions of this Secnrity Instrument or the Note which canibe given effect without the conflicting provision. As used in this Security Instrument:. (a) words of the masculine gender shall mean and include corresponding neuter words or worths of the fen'finine gender; (b) words m the singular shall mean and include the plural and vice versa; and (c) the woi-d "may" gives sole discretion without any obligation to take any action. 17. Borroiver's Copy. [".o~-ower shall be given one copy of the Note and of this Security Inst~ ument. 18. Transfer of the PropeFty or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal 5r beneficial interest in the Property, including, but not limited to, those beneficial interests transferred m a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title bylBon'ower at a furore date to a pnrchaser. If all or any part of the P-operty or airy Interest m the Property is sold or transfen'ed (or if Borrower is not a natural person and a beneficial inter~st in Borro~vel' is sold or transfelxed) without Lender's prior xwitteu consent, Lender may require immediate payment in fidl of all sums secured by this Security Insn-nment. However, tlfis option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Bon'ower notice of acceleration. The notice shall provide a period of not less than 30 days fiom the date the notice is given in accordance with Section 15 within which Borrower ~nust pay all sums secured by this Security hrstmment. If Borrower fails to pay these sums prior to the WYOMING - single Family - Fan.ie Mae/'*reddie Mac UNIFORM INSTRUMENT DOCU~W¥9 ~ (Page 9 of 13 pages) Form 3051 1/01 494012586 expiration of this period, Lende~ nlay invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right ~o Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to lmve enfcrc.~ment of this Secnrity Instrument discontinued at any tinre prior to the earliest of(a) five days before sale of the P.-operty pursuant to any poxver of sale contained in this Security Instrument; (b) such other period as Applicable Law tmght specify for the temfinatiol~ 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 snms which then would be due under ihi~ Security Instalment and the Note as if no acceleration had occmTetl; (b) cures any default of any other cove~_ants or agreements; (c) pays all expeuses incurred in enfurcing this Security Instrument, including, but not li~nited to, reasonable attorneys' fees, property inspection and valuation tees, and other fees incurred for the pnrpgse of protecting Lender's iuterest in the Property and rights under this Security Instrument; and (d) takes such ~ct'ion as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instalment, and Bon'ower's obligation to pay the sums secured by this Security Instrument, shall contim,~e unchanged. Lender may require that Borrower pay such reinstatement SUlnS and expenses in one or more of the following fom~s, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's che'ck or cashier's check, provided ally sucll check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Sec ~rity Insmunent and obligations secured hereby shall remain fully effective as if no acceleration had occurred. I~owever, 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 ,rarity ( rlamwn as the "Loau Servicer") that collects Periodic Payments due under the Note and this Security Instrnment and perfmms other mortgage loan servicing obligations uuder the Note, this Security Instrument, and Applicable Law. There also nfigt~t be one or more changes of the Loan Servicer urn'elated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given va-itten notice of the change which will state the name and addre';s of the new Loan Servicer, the address to which payments should be made and any other infommtion RESPA re'quires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced b7 a ~Loan Servicer other than the purchaser of tire Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be n'ansferred to a successor Loan Servicer and.are not assmned by the Note purchaser tmless otherwise provided by the Note purchaser. Neither Bon:ower nor Lender may commence, join, or be joiued to any judicial action (as either an individual litigant or the member of a class) that arises fiom the other party's actions pursuant to this Security Instrument or that alleges that tl~e other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until snch'.Bbrrower or Lender has notified the other party (with sncb notice given in compliance with the reqniremer'ts :of Section 15) of soch alleged breach and afforded the other party hereto a reasonable period after the giving o',Ssuch notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action call be taken, that time period will be deemed to be reasonable for proposes of this paragraph. The notice of acceleration and opportunity to cm'e 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:io~ 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, pollutauts, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flalnmhble or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or.£ofinaldehyde, and radioactive materials; (b) "Enviro~m~ental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Envirmunental Law; and (d) an "Enviromnental Condition" meaus a condition tliat can cause, contribute to, or othe~wvise trigger au Environmeutal Cleanup. Bon'ower shall not cae.se or pemfit the presence, use, disposal, storage, or release of any llazardous Substances, or threaten to release any Hazardous Snbstances, on or in the Properly. Bo~xower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is ill violation of any Envi~'onmental Law, (b) which creates an Enviromnental Condi[im~, or (c) which, due to the presence, use, or release of a Hazardous Substance, WYOMING - Single Fanfily - Fan.ie Mae'Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCU~WY~0 (Page 10 of 13 pages) DOCUKWYA. VTX 10/17/2002 494012586 creates a condition that adversely: affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage or: t]'~e Property of small quantilies of Hazardous Substances that are generally recognized to be approp]-iate to normal residential uses and to maintenance of the Prope]/y (including, but not limited to, hazardous substances in c(msmner products). Borrower shall promptly give Lender wri[ten notice of (a) any investigation, claim, demand, lawsuit or o[her action by any govermnental or regulatory agency or private pat/y involving the Property and any Hazardous Substance or Environmental LAY1/ of which Bon-ower has actual kn]owledgel (b) any Enviro,m]ental Condition, including, but not limited to, a/xy spilling, leaking, discharge, release or tin'eat of release of any Hazardous Substance, and (c) any condition i:aused by the presence, use or release ofa Hazardous Snbstance which adversely affects the value of the Property. ~f Bon~ower learns, or is notified by any govermnental or i'egulatory attthority, or any private party, that any removall or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promFtlYitake all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on' Lender for an Environmental Cleanup. NON:UNIFORM COVENA~NTS. Borrower and Lender fitrther covenant and agree as follows: · 22. Acceleration; Remedifis. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any coveaa,~;t or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applic::blel Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cnre the defaul:t; (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 lath, re to cure the default on o,' before the date specified in the notice may rest, It in acceleration of the sums secured by this Secnrity Instrument and sale of the Property. The notice shall :?ur~her inform Borrower of the right to reinstate after acceleration and the right to bring a conrt action to assert the non-existence of a default or an)' other defense of Borrower to acceleration and sale. If the deii'auf:t is not cured on or before the date specified in the notice, Lender at its option may require immediatel payment in full of all sums secured by this Security Instrnment without further demand and may invoke lite 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, inclnding, but not limited to, re~/sonable 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. P?operty, it' different, in accordance with Applicable Law. Lender shall give notice of the sale to Bo,'rower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in'the tnanner prescribed by APplicable Law. Lender or its designee may purchase tile Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, .but not limited to, reasonable attorneys' fees; (b) to all snms secured by this Security Instrnment; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payr;aem of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall [ay any recordation costs. Lender may charge Borrower a fee for releasing this Security instmn~ent, bnt only if the f~e is paid to a third party fox' sen, ices rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower ireleases and waives all rights under and by virtue of the homestead exemption laws of Wyonfingl WYOMING - Single Family - Fa,hie Mae/Freddie Mac UNIFORM INSTRUMENT I)ocurwY ~ ~ ' (P~ge 11 of 13 page0 ,~ocm~n,~. vwx ~0/~_~/200~ I Form 3051 1/01 5-25--04;:2:43PM;FiRST BANt( 685 ~t 9't012586 BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained in this Security Instrament and in any Rider e>:ec~ted by Borrower and recorded with it. BORROWER - L. DEE H:,Zt4/c~ERT - DATE £? WYOMING - Single Family - Fantfi ~ ND,e/Freddie Mac UN1FOR2vl INSTRUNIENT BOCUKWy~Z (Page 12 of 13 pages) DOC'Ui:~C. v,r I 10/1']/:2002 Fo,'m 3051 1/01 BANI'( 307 733 ~9~012586 4101 [Space Below This Line For Acknowledgment] STATEOF ~.2'7Z£6 7, Thc foregoing instrument was acl~mwledged before me by _J"'~/~/e///~4,~ &~--7t- this ~2__ .D~Y~/q day' of Witness my hand and official seal. NOTARY PUBLIC SUZY KUNZE 1574 So. WosI Tomplo ~11 Lake Cily, Ulsh 8411~ My Commission Expires July 20, 2006 STATE OF UTAH WYOMING - Single Family - FannleMae/~reddieMaclJNIFORMiNSTRUMENT DOCIJ~VV~i ] (Page 13of13 page0 DOCInCh'YD.VTX 6/6/2002 Form 3051 1/01 5--25--04 ;' 307 733 4101 :25¸ SECOND HOME RIDER HEI,13~RT LOAN ~, 494012586 HIN: 100174102000010696 THIS SECOND HOME R/DER is made on this 25TH day of MAY, 2004 and is incorporated into and ::hall be deemed to amend and supplement the Mongage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower," whether there are one or more persons tmdersigned) to secm'e Borrower's Note to FIRST BANK OF IDA/40, FSB, DBA FIRST BANK OF THE TW, TONS (the "Lender") of the same da:e and covering the property described in the Security Instrument (the "Property"), which is located at: 246 KARA STREET, THAYN~, W-Y 83127 (Property Address) In addition to the covenants eno agreements made in the Security instrument, Borrower and Lender fitrther covenant and alp-ee that Sections 6 and 8 of the Security Instrument ar~ deleted and are replaced by the tbllowing: 6. Occupancy. Borrox~er shall occupy, and shall only use, the Property as Borrower's second ho~ne. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment at alt times, and shall not subject the Pro[ erty to any timesharing or other shared ownership arrangement or to any rental pool or agreement ti.at requires Borrower either to rent the Property or give a management finn or any other person any control over the occupancy or use of the Property. 8. Borrower's Loan Application. Borrower shall be in dePault if, dttring the Loan applicahon process, Borrower ar any persons or entities acting at the direction of Borrower or with Borrower's -knowledge or ' consent gave materially false, misleading, or inaccurate intbrnmtion or statements to Lender (or failed to provide Lender with rmiterial infornmtion) in connection with the Loan. Material representations include, but are not lira.ted to, representations concerning Borrower's occupancy of the Property as Borrower's second h)me. MULTISTATE SECOND HOME IIlDER- Single Family-Fannie MaedFreddlc Mac UNIFORM INSTRUNIENT DOCUR~AI Page I of 2 DO~IJR~A&. YTX 11/28/200~ Ft}rm ]890 1/01 5-25-04;~2:43PM;FIRST BAN'K 307 733 4'0- ~- 20 2-: 688 494012586 BY SIGNING BELO¥:V, Borrower accepts and agrees [o the terms and provisions contained in this Second Home Rider. oocuRs~zMULTISTATE SECOND HOME ItlDEI~.- Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ~ocu~s~.~.,~rx z:t/:~,,/'~oo~ Page 2 of 2 Form 3890 1/01