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HomeMy WebLinkAbout900787RcmrnTo: WELLS FARGO HOME MORTGAGE 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 900 7'''-',_, , Prepared By: WELLS FARGO BANK, ,~OOK .... 1919 DOUGLAS,, OMAi{A, NE 681010000 [Space Above Tiffs Lh~e For Recording Data] MORTO^¢g R E O ~J IV E D CLERK L I r',l," o ~~ ~, ,~...f'l 0"', l I ~,, TY." ,.890 DEFINITIONS Words used in multiple sections of this document are defined below anti other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regardiug the usage of words used in riffs document are also provided in Section 16.. ~ (A) "Security Instrnment" means dais document, wlfich is da£ed JLIL¥ 02, 2004 , togedter with all Riders to fi?is document. (B) "Borrower" is REED RICK MILLER AND KELLY J. MILLER, I-IUSBAND AND WIFE Borrower is the mortgagor under this Security 'Instrument. (C) "Lender" is WELLS FARGO BANK, N.A. Lender is a NATIONAL ASSOCIATION organized and existiug undez the laws of THE UNITED STATES 0044980357 WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Pa~e 1 15 InitJal~: , ~ ¢: VMP MORTOAGE FORMS-,8001~2 1L%72"1 Form 3051 1/01 Lender's address is P.o. Box 10304, D~..S /,IOII, II3S, I3. 503060304 Lender is the ruortgagee under dlis Security Instrument. (D) "Note" means the promissory note signed by Bo/rower and dated~TUI~Y 02, 2004 The Note states that Borrower owes Lender 13IGHTY l'Illq~.. THOUSJMNID TrdO HLIlqDRED 3..lqD 00,/100 Dollars (U.S. $ *****89,200.00 ) plus interest. Borrowe~ has promised to pay fllis debt in regular Periodic Payments and to pay the debt in full not later than 3.UGuST 01, 20 Z 9 (E) "Property" means the property flint is described below nndcr the headiug "Transfer of Rights in the Property." (F) "Loan" means the debt ~'videnced by die Note, plus interest, any prepayment charges and .late charges due under the Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Ridcis to this Security Instrumeut that are executed by Borrower. The tbllowing Riders are to be executed by Borrower [check box as applicable[: ~ Adjustable Rate Rider ~ Condomi~fimn Rider ~ Second Home Rider ~] Balloon Rider .--~ Planned Unit Development Rider ~ 1-4 Family Rider ~ VA Rider %'-~ Biweekly Payment Rider [~ Other(s) [specifyl (Fl) "Applicable Law" meal,s all controlling applicable federal, state and local statutes, regulatious, ordinances and adufitfistrative rules and orders (that bare thc effect of law) as well as all applicable final, ~mn-appealable judicial opiui 9ns. (1) "Com~nunity Associatioh Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium associatton, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of fluids, other than a transaction originated by check, drati, or similar paper iltstmment, which is i~fitiated through au electronic terminal, teleplmnic iustrument, computer, or nm gnetic tape so as to order, instruct, or authorize a fimmcial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller ~nachine transactions, transCers i~fitiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" mea~ts those items that are described in Sectiou 3. (L) "Miscellaneous Proceeds" means auy compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) tbr: (i) damage to, or destruction of,' the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance ir. lieu of condenmation; or (iv) misrepresentations of, or onfissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or dethult on, the Loan. (N) "Periodic Payment" means the regularly scheduled amouut due fur (i) principal and interest uoder the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" xneans the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended dom time to time, or any additional or successor legislation orregulation that governs the same subject matter. As used in this Security Instrument, 'I~ESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. initials:~'~_ (~6(WY) Iooo~l : P~g~ 2 o~ ~5 Form 3051 1/01 (P) "Successor in Interest of Borrmver" ~neans any party that has taken title to die Property, whether or not that party has assumed Borrower's obligations under thc Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY Tiffs Security lnstrmnent seem:es to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; ar~,d (ii) the perfornmnce of Borrower's covenauts and agreements under this Security lustrument and the Note. For tiffs purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors attd assigns, with power of sale, the following described property located in the COUNTY of LINCOLN : [Type of Recording 3urisdicfion] [Name of Recordiug Jurisdiction] SEE ATTACHED LEGAL DESCRIPTION Parcel ID Nmnber: 375 E 5TH AVE AFTON ("Property Address"): which currently has the address of [$trectl [Cityl , Wyoming 8 ~ 110 [Zip Codcl TOGETHER WITH all the improvemems ~mw or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements aLd additions shall also be covi:red by this Security lnstmn~ent. All of the foregoing is referred to in this Secnrity Instrumem as file "Prbperty." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant atd convey the Property and fltat file Property is unencmnbered, except for encumbrances of record. Bonower warrants and will defeud generally the title to the Property against all claims and denmnds, subject to any encumbrances of record. THIS SECUI~TY IN~';TRUMENT combines mfiform cove~mnts for national use and nonqmifonn covenants with linfited 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 Princi[al, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when duc the principal of, and interest on, the debt evidenced by the Note and 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 Iustrument shall be nmde in U.S. curt'ency. However, if any check or other instrument received by Lender as payment under the Note or this (~-6(WY) (ooo~1 Page 3 o~ ~s Form 3051 1/01 ,-(' 893 Security Instrument is returned to Lender unpaid, Lender nmy require that any or all subsequent payments due under the Note and this, Security Instrmneut be nmde io 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, instrumentalitg, or entity; or (d) Electronic Funds Transfer. Pa.yments are deemed rcr!eived by Lender When received at the location desigmtted in the Note or at such other location as may be desig~mted by Lender in accordance with the notice provisions itl Section 15. Lender may retm-n any payn-'~nt or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lend'er may accept any payment or partial payment insufficient to bring the Loan current, without waiver of an}:, fights 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, theu Lender need not pay interest on mmpplied funds. Lender amy hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower, does not do so within a reasom~ble perittd of time, Lender shall either apply such funds or return them to 2,orrower. If not applied earlier, such funds will be applied to the uutstauding principal balance under the Note immediately prior to /breclosm-e. No offset or claim wlfich Borrower might have now or in the funtre against Lender shall relieve Borrower fi'om'ina-king payments due under fl~e Note and flits Security Instrmnent or performing the covemtnts aud agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender sh:dl 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 payments shall be applied to each Periodic Payment in the order in. which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under tiffs Security Instrument, and then to reduce the principal ha:lance of the Note. If Lender receives a payment from Borrower for a d:linquem Periodic Paymeut which includes a sufficient atnmmt to pay any'late charge due, the payment may be applied to the delinquent paymeut and the late charge. If more than one Periodic Payment is outstanding, Lender nmy apply any paymeot received from Borrower to the repayment of tile Periodic Payments if, and to the extent that, each payment can be paid in full. To tbe extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess amy b.e applied to any late charges due. Voluntary prepayments shall be applied first to any prepay:neat charges and then as described iu the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or F0stpone the due date, or change the amonut, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender oil the day Periodic Payments are due under the Note, until file No{e is paid in full, a sma (the "Funds") to provide for payment of amounts due for: (a) taxes and assessment~; and other items which can attain priority over this Security lnstrumeut as a lieu or encumbrance on the }'~'operty; (b) leasehold payments or ground rents on the Property, if ,'my; (c) premiums for any and all insurance required by Lender under Sectiou 5; and (d) Mortgage Insurance prenfimns, if any, or aixy sums payable by Borrower to Lende,' in lieu of 'file payment of Mortgage lnsura~me premiums in accordance with the provisions of Section 10. These items are called "Escrow Ileum." At origination or at hay time during the term ol' the Loan, Lender may require that Conmmnity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be att Escn)TM Item. Borrower shall promptly l:urnish to Leuder all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pa7 the Funds for any or all Escrow Items. Lender nmy waive Borrower's obligation to pay to Lender Fnnds for any or all Escrow Items at any time. Any such waiver nnty unly be in writing. In file event of. su{:h waiver, Borrower shall pay directly, when and where payable, the a~nounts Initial~:~.~/~ ~I~(~6(WY) (ooos) Page4 o~ ~6 Form 3051 1101 due for arty Escrow Items 1~ which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receiT~is evidencing such payment within such time period as Lender lnay require. BorroWer's obligation to mace such payments and to.provide receipts shall for all purposes be deemed to be a cove:mint and agree~nent contained in this Security, Instrun~cut, as the phrase "covenant and agreement" is used itt Section 9. If Bor~-ower is obligated to pay Escrnw Items directly, pursuant to a waiver, and Borrower/'ails to pay the ani0unt due tbr an Escrow Item, Lender may exercise its rights under Section 9 attd pay such amount and Bo3rower shall then be obligated under Section 9 to repay to Lender any such amount. Lender nmy revokeI ~he waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 'trod, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required nnder this Section 3. Lender may, at any time;' collect attd hold Funds in an amouut (a) sufficient to permit Lender to apply the Funds at the time specit?ed under RESPA, and (b) not to exceed the maxinmm amount a lender can require ruder RESPA. Lemter shall estinu4te the amomn of Funds due ou the basis of current data ard reasonable estinhates of expenditures of future Escrow hems or otherwise itl accordance with Applicable Law. The Funds shall be hdld in an institution whose deposits are insured by a federal agency, instrumentality, or entity (inCluding Lender, if Lender is an i~kstitution whose deposits are so insured) or in any Federal Home Loan Ban];. Lender shall apply the Funds to pay the Escrow Items no later than the time specified m~der RESPA. Let;der sh,'tll not charge Borrower fitr holding and applying the Funds, ammally armlyzing rite escrow accoum,' or verifying file Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law pe~qnits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires ihterest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an atmual accounting of the Funds as required by RESPA:i If fl~ere is a Surplus of :Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess fundg 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 ~o rmqke up the slmrtage in accordance with RESPA, but in no more than 12 monthly payments. If there i,; a deficiency of Funds held in esci'ow, as defined 'under RESPA, Lender 'shall not[fy Borrower as required fly R]ESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more fi'tan 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; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property Which can attain priority over this Security Instrument, leasehold payments or gronnd rents on the Property if arty, and Conmmnity Association Dues, Feesl and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the maimer provided in Section 3. Borrower shall promptly discharge arty lien wtfich has priority over this Seem-try Instrument unless Borrower: (a) agrees in wfiti:tg to fl~e payment of file obligation secured by the lien in a mamler acceptable to Lender, but only so long ;is Borrower is performing such agreement; (b) contests file lien in good fifith by, or defends against entbr(ement of the lien itt, legal proceedings which in Lender's opinion operate to prevent the enforcement of ute lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures trom the holder of file lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of rile Property is subject to a lien which can attain priority ove~ this Security Ii~strun~ent, Lender n~y give Borrower a notice identifying the Initials:~ (~-6(WY) tooo51 P~j~ 5 ot ~5 Form 30,51 1101 lien. Within 10 days of the date on which that notice is given, Bom)wer shall satisl~ the lien or take one or more of the actions set lbrth 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 comtection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on file Property insured against loss by fire, hazards inchided within thc term "extended coverage," and any other hazards inchiding, but not limited to, earthquakes and floods, fi)r which Lender requires insurance. This insurance shall be ~mdntained in the amounts (including deductible levels) and /hr the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term the Loan. The insurance carrier providing rite insurance shall be choseu by Borrower subject to Lender's right to disapprove Borrower':~ choice, which right shall not be exercised unreasonably. Lender ~nay require Bon'ower to pay, in Cmmection with fids Loan, either: (a) a one-time charge for flood zone determination, certification ahd tracking services; or (b) a one-time charge for flood zone deternfination and certification services and subsequent charges each time remappings or similar changes occur which reasomthly might affect such determination or certification. Borrower sllall also be responsible for the payment of any fees impose.J .by the Federal Emergency Management Agency in comlection with the review of any flood zone dete:)mination resulting t¥om an objection by Borrower. If Borrower thils to nmintain any of fl~e coverages described above, Lender may obtain insurance coverage, ' at Lender's optio~ 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 might not protect Borrower, Borrowm"s equity in the Property, or the contents of the Propmty, against any risk, hazard or liability and might p'rovide greater or lesser coverage than was previously in effect. Borrower ac ~knowledges that the cost oI' :~he insurance coverage so obtained might significantly exceed fl~e cost of insurance that Borrower coulc; have Obtained. Any a~nounts disbursed by Lender under this Section 5 shall become additional debt of Bok. rower 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 notide from Lender to Borrower requesting payment. All insm'ance policies reqt)ired 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 atd/or as an additional loss payee. Lender shall ltave die right to hold the policies and renewal certificates. If Lender requires, ;Borrower shall promptly give to Lender all receipts of paid prenfiums renewal notices. If Borrower'obtains any form of insurance coverage, not otherwise required hy Lender, for damage to, or destructiox~ of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. in the event of loss, Borrower sball give prompt notice tu the insurance carrier and Lender. Lender tnay make proof of loss it' no~: made prmuptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not file underlying insurance was required by Lender, shall be applied to restoration or repair of file Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration periud, Lmuler shall have the right to hold such insurance proceeds until Lender has bad an oppormmty to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender nkay disburse proceeds for the repairs and restoration in a single payment or iu a series of progress payments as file work is completed. U~dess 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 Borrower any interest or eanfings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid oht of the insurance proceeds and shall be file sole obligation of 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 lnstrmnent, whether or not then due, with % (~¥6(WY) looosl pag~of15 Form 3051 1/01 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Bon-ower abandons the Property, Lender may file, negotiate and settle any available insurance claim a~ related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier bas offered to settle a claim, then Lender may negotiate and settle file claim. The 30-day period will begin when the notice is given. In either event, or if .Lender acqmres the Property nnder Section 22 or otherWise, Borrower hereby assigns to Lender (a) Bon'owcr's rights to any insurance proceeds in an amount not to exceed rite amounts unpaid nnder the Note or this Security Instrument, and (b) any other of Borrower's rights (other than flxe right to any refund of unearned premiums paid by Bon'ower) under all insurance policies covering the Property, insothr as st,ch fishes are applicable to the coverage of the Property. Lemler ]nay use file i~tsurance proceeds either to repair or restore fl~e 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 file Property as Borrower's principal residence wiflfin 60 days after the execution ol' this Security h'~strmuent and shall continue to occupy the Property as Borrower's principal residence for at least one year after fl~e date of occupancy, uxfless Lender otherwise agrees in writing, .wlfich consent shall not be unreaso~mbly withheld, or mfless extenuating circumstances exist wlfich ar': ~ueyond Bor,'ower's control. 7. Preservation, Maintenance aud Protection of the Property; Inspections. Borrower shall not destroy, danmge or impair t~e Property, allow fl~e Property to deteriorate or commit waste on file Property. Whether or not Bol.rower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property fron~ deteriorating or decreasing in v:dt,e due to its condition. U~fless it is deten~fined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if danmged to avoid l:urther deterioration or danz~ge. Il: insurance or condelmmtion proceeds are }aid in comtection with damage to, or the taking of, thc Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds tbr such pnrposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the w6rk is completed. If the insurance or condennmtion proceeds are not sufticient to repair or restore the Property, Borrower is not relieved of Borrower's obligation tbr the completion of such repair or restoration. Lender or its agent may nmke reaso]mble entries upon and inspections of the Property. If it has reasomtble cause, Lender n~ty inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan ~A'pplication. Borrower shall be iu 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 ~m~terially false, nfisle,'tding, or inaccurate ildbrmation or statements to Lender (or failed to provide Lerder with nmterial infornmtion) in connection with the Loan. iVlaterial representations include, but~ ai'e ]lot limited to, representations concerxfing Borrower's occupancy of the Property as Borrower's prindpal residence. 9. Protection ot' Leuder:s Interest iu the Property a,]d Rights Under this Security Instrument. If (a) Borrower fails to perfonu the cove]rants and agreements contai~ed in this Secm-ity Instrument, (b) there is a legal proceeding that tfiight sigxfificantly affect Lender's interest in the Property and/or rights under fids Security Instrument (such as a proceeding in bankruptcy, probate, for condem~mtion or lbrfeiture, lbr e]fforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then kender nmy do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under fids Security Instnmxent, 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 linfited to: (a) paying any sums secured by a lien which has priority over this Security Instrmnent; (b) appeari,~g in court; and (c) paying reaso~mble (~-6{WYI (ooos) nt a~s~ Pag~7o! 16 Form 3051 1/01 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a 'banlcmptcy proceediug. Securing the Property iucludes, but is not limited to, entering the Property to nmke' repairs, change locks, replace or board up doors and windows, draiu water from pipes, elinfi~mte building or other code violations or dangerous conditions, and h;ive utilities turned on or off. Although Lender ma~y take action under fids Section 9, Lender does not have to do so and is not under any duty or obligation ~o do so. It is agreed ii,at Leader incurs no liability tut not taking any or all actions authorized under this S~:ction 9. Any amounts disbursed by Lender under fids Section 9 shall become additional debt uf Borrower se6ured by this Security instrument. These amounts shall bear interest at the Note rate fi-om the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fe.e title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender reqnired Mortgage Insm'ance as a condition of making the Loan, Borrower shall pay the premimns required to maintain rime lvlortgagc Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available froin the mortgage insurer that previously provided such ins'.~rance and Borrower was required to nmkc separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equiva!eut to the Mortgage Insurance previously in effect, at a cost substantially eqnivalent to time cost to Borrower of the Mortgage Insurance previously in effect, fi'om an alternate mortgage insurer selected by Lender. If substantially equivalent lVlortgage Insurance coverage is not available, Borrower shall cominue to pay to Lender the amount of the separately desigoated paylnents 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-refundable, notwithstanding the lhct that .the Loan is ultinmtely paid in full, and Lender shall not be required to pay Borrower any !nterest or earnings on such toss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amouut and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately desig~mted payments toward rite prenfimns for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of m~tking the Luau and Borrower was required to make separately dcsigm~ted payments toward the pretniums Ibr Mortgage Insurance, Bom)wcr shall pay 'the premimns required to ~mtintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordalme with any written agreement between Borrower and Lender providing tbr such termi~mtion or until termitmtion is required by Applicable Law. Nothing in this Section 10 affects Borrower'sobligation to pay interest at the 'rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases rite Note) /bt certain losses it nmy incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluaie their total risk on all such insurance itt tbrce from time to time, and may enter into agreements with ofi~cr parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions 0tat are satisfactory to time mortgage insurer and the other party (or parties) to these agreements. These agret~ments may require the mortgage insurer to nmke payments using arty source of funds that the mortgage ingurer may have available (width may include funds obtaiued from Mortgage Insurance prendums). As a result of these agreements, Lender, any purchaser of thc Note, another insurer, any reinsurer, any other entity, or any affili(tte of any of the foregoing, may receive (directly or iudirecfiy) amounts that derive from (or nfight be cha~r;,cterized as) a portion of Borrower's paymeuts tbr Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. It' such agreement provides that an affiliate of kender takes a share of the insm-cr'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 agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any. other terms of the Loan. Such agreements will not increase tile amount Borrower 'will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. II~6(WY) Iooo51 Pae* 8 of '16 Form 3051 1/01 (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage h~surance trader the Homeowners Protection Act of 1998 or auy other law. These rights may include tile right to i'eceive certain disclosures, to request and obtain cancellatimt of the Mortgage Insurance, to have the Mortgage Insurance terminated autom,'ttically, and/or to receive a refund of any Mortgage InsUrance premiums that were nnearned at tile time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportmmy to inspect such Property to ensure the work has been completed to Lender's satisfacfiou, provided that such inspection shall be undertaken promptly. Lender may pay k~r the repairs and restoration in il single disbursement or in a series of progress payments as the work is completed. Unless an agreer.~ent is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Leader shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If tae restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaueons Proceeds shall be applied to the stuns secured by this Security Instrument, whether or not then due, wi~_b the excess, if any, paid to Borrower. Such Miscellaoeous Proceeds shall be applied in the order provided tin' in Section 2. In the event of a totzl taking, destruction, or loss in value of die Property, the Miscellaueous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not theft 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 tile Property immediately before the partial takiug, destruction, or loss in value is equal to or greater than the amount of the stuns secured by this Security Instnnnent immediately before the partial taking, destruction, or loss in value, urdess Borrower and Lender otherwise agree in writing, flit stuns secured by this Security Iustrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by file following tYaction: (a) the total amount of file sums secured irmnediately before file partial ta~ng, destruction, o? loss in value divided by (b) the fair market value of the Property inunediately befm'e the partial taking, destruction, or loss in value. Any balance shall be paid to Bon-ower. In rile event of a partial taking, destruction, or loss in value of the Property in wlfich file fair market wdue of file Property inmrediately 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 wdue, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the stuns seem'ed by fids 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 deftned in the next sentence) offers to make an award to settle a claim for danniges, Borrower fails to respond to Lender within 30 days after the date the notice is given, Leuder is authorized to collect and apply the Mi ;cellaneous Proceeds either to restoration or repair of fl~e Property or to the sums secured by [his Securit.~ Instrument, whether or not theu due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action iu regard to Miscellaneous Proce:ds. Borrower shall be in default if any actiou or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of rile Property m' other material impairment of Lender's interest in file Property or rights under this Security hlstruumnt. Borrower can cure such a defimlt and, if acceleration has occurred, roi tstate as provided itl Section 19, by causing file action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes fi~rfeiture of the Property or other nmterial impairment of Lender's interest in rile Property or rights under this Security Instruntent. Thc proceeds of any award or claim for da~mtges that are attributable to the m~pairment of Lender's interest in file Property are hereby assigned and shal~ be paid to Leuder. All Miscellaneous Pro:teds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. (~6(WY) (ooo~1 : P~e 9 of 15 Initials:.:~lr~ ' Form 3051 1/01 8'39 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extensiou of the time for payment or modification of amortization of thc stuns secured by this Security htstrmnent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release cite liability of Borrower or auy Successors in interest qf Borrower. Lender shall not be required to conunence proceedings against any Successor iu Interes! of Borrower or to refuse to extend time for payment or otherwise modify amortizatidn of thc sums secured by this Security Instrumem by reason of any denmnd nmdc by the original Borrower or any Successors iu Interest of Borrower. Auy tbrbearauce by Lender in exercising any right or remedy including, without lh:,fftation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrgwer or in amounts less than the amouut then due, shall not 'be a waiver of or preclude rite exercise of any right or remedy, 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's ol~ligations and liability shall be joint and several. However, any Borr()wer who co-signs this Security Instrument bm does not execute the Note (a "co-signer'.'): (a) is co-signing tiffs Security Instrument only to ~.umgage, grant and convey the co-signer's interest irt the Property under the terms of this Security h~strument; (b) is not personally obligated to pay cite sums secured by this Security Instrument; and (c) agrees ci~at Leudcr aud any other Borrower eau agree to extend, modify, forbear or n~ke any acconunodations ¢ith regard to the terms of this Security Instrument or the Note without the co-signer's conseltt. Subject to the provisions of Section 18, any Successor iu Interest of Borrower who assumes Borrower's obligations under this Security lnstrmnent m writing, .'md is approved by Leudcr, shall obtain all of Borrower's rights and benefits under this Security Insmmma. Borrower shall not be released from Borrower's obligations and liability under tiffs Security h~strumcut unless Lender agrees to such release in writing. The covenants and agreemems of this Security Insnument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Leuder may charge Borrower fees for services pcrtbnned, in conuection with Borrower's default, for the purpose of protectiug Lender's interest in the Property and rigt~ts under this Security Instrmnent, including, but not limited to, attorneys' fees, property inspection and valuation tees. In regard to any other fees, dte absence of express authority in this Security lnstrmnent to charge a specific tee to Borrower shall not be construed as a prohibition on the charging of such fcc. Lender nmy uot cltarge tees that are expressly prohibi:ted by this Security Instrmnent or by Applicable Law. If the Loan is subject to a law which sets nmximum loan charges and that law is fi~tally interpreted so that the interest or other lout. charges collected or to be collected iu connection with the Loan exceed the permitted linfits, then: (a) ary such loan charge shall be reduced by the aruount necessary to reduce the charge to the permitted, linfit;' and (b) any stuns already collected fi'om Borrower which exceeded permitted linfits will be refunded to Bm'rower Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is 'provided for under the Note). Borrower's acceptance of any such refund nmdc by direct payment to Borrower will constitute a waiver of any right of ,%tion Borrower might have arising out of such overcharge. !5. Notices. All notices given by Borrower or Lender iu comtection with this Security Instrument must be in writing. Any uotice to Borrower ia comtection with this Security Insmnnent shall be deemed to have been given to Borrower when mailed by first class nmil or when actually delivered to Borrower's notice address if sent by other n~ans. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designaie.l a substitute notice address by notice to Lender. Borrower shall prompdy notify Leuder of Borrower's cltauge of address. If Lender specifics a procedure tbr reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one desig':mted uotice address under this Security htstrument at any one time. Any notice to Lender shall be given by delivering it or by iuailing it by first class mail to Lender's address stated herein unless Lender has desig~mted another address by notice to Borrower. Auy notice in co~mection with Otis Security lnstrmnent shall not be deemed to have been given to Lender until actually received by Lender. If any ~t. otice required by this Security lustrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. : ~(~6(Wy) Iooo~) p.g, ~o o~ ~ Form 3051 1/01 .... 900 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and (he law of the jm:isdiction in which the Property is located. All rights and obligations contained in this~ Security Instrument are subject to any requirements and linfitations of Applicable Law. Applicable Law might explicitly or implicitly allow thc parties to agree by contract or it might be silent, but such sikmce shall not be construed as a prohibition against a~reemeut by contract. Iu fl~e event that any provision 6r clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not a?fect other provisions of this Security lustrument or the Note which can be given effect without the conl'.icting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the fenfinine gender; (b) words in the singular shall mean and include the plural and vice ~ersa; and (c) the word "n~y" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Bi~rrower shall be given one copy of the Note and of this Security iustrument. 18. Transfer of the PrOperty or a Beneficial Interest in Borrower. As used in this Section 18~ "Interest in the Property" means auy legal or beneficial interest in the Property, including, but not limited to, those 'beneficial interests transferred iu a bond Ibc deed, contract for deed, iostalhnent sales contract or escrow agreement, die intent of which is tbe transfer of title by Borrower at a future date to a purchaser. If all or' any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a m~tural person and a beneficial interest in. Borrower is sold or transfe~xed) without Lender's prior written consent, Leuder m~y require immediate payment in fidl of all sums sec[ired by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall Provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within wlfich Borrower must pay all sunts secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any rmnedies pernfitted by flits Security Instrument without ':urther :notice or denmnd on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the rigi~t to have enforcement of this Seem'icy Instrmnent discontinued at any time prior to the earliest of: (a) five clays 'before sale of the Property pursuant to any power of sale contained in fids Security Instrument; (b) such other period as Applicable Law nfight specify for the ternfim~timx of Borrower's right to reinstatel or (c) entry of a judgment enforcing this Security Instrmnent. 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 bad occm'red; (b) cures auy defat, lt of any oilier covenants or agreements; (c) pays all expenses incurred in en/brcing this Security Instrument, includiug, 'but not limited to, reasonable attorneys' fe:s, property inspection and valuatiou' fees, and ocher fees incurred for the purpose of protecting Lender'3~ interest in the Property and rights nnder this Security Instrument; and (d) takes such action as Lender may reasonably require to assm-e that Lender's interest iu the Property and rights under this Security Insm,ment, and Borrower's Obligation to pay the stuns secured by this Security Instrmnent, shall continue unchanged. Lende~ may require that Borrower pay such reinstatement sums and expenses in one or more of the following tbrms, as selected by Lender: (a) cash; (b) money order; (c) certilied check, bank chec.k, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposit;; are insured by a federal agency, insmlnrentality or entity; or (d) Electronic Funds Transfer. Upon reinstat)gment by Bon'ower, this Security lustmmeut and obligations secured hereby shall renuiin fully effective as if rio acceleration had occurred, ttowever, fids right to rciustate 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 nfight resu;t in a change in fl~e entity (known as file "Loan Servicer")that collects Periodic Payments due under: the Note and this Security htstrumeut aud performs other mortgage loan servicing obligations under the Note, this Security Instrument, aud Applicable Law. There also nfight be one or more cbanges of the Loan Servicer mtrelated to a sale of the Note. Il' there {s a change of tim Loan Servicer, Borrower will be given written notice of fire change which will state the name and address of the new Loan Servicer, the addwss to which payments should be made and any other infornnttion RESPA {WY110006) Page 11 of 15 Form 3051 1/01 requires in connection with a r, otice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer c'[.~er than file purchaser of file Note, file mortgage loan serviciug obligations to Borrower will renmin with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser mfless otherwise provided by file Note purchaser. Neither Borrower nor Lbnder nmy conm~ence, join, or be joined to auy judicial action (as either an individual litigant or the ~nember of a class) that arises frmn the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision, of, or any duty owed by reason of, this Security Instru~xent, until such Borrower or Lender has notified the oth.er party (with such notice given isl. compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasolmble period after file giving of such notice to take corrective action. If Applicable Law provides a tirade period which must elapse bel'ore certain action can be taken, that time period will be deemed to be reasonable for pmlmses of this paragraph. The notice of acceleration and opportmfity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportmfity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in fids Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the tbllowing substances: gasoline, kerosene, other flammable or toxic petrolemn products, toxic pesticides and herbicides, volatile solvents, materials contaisfing asbestos or fi)rmaldehyde, 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 reinoval action, as defined ill Environmental Law; and (d) au "Environmental Condition" means a conditirn that can cause, contribute to, or otherwise trigger an 'Environmental Cleanup. Borrower shall not cause .or ~ernfit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in thc Property. Borrower shall not do, nor allow anyone else to .do, anydfing affecting the Property (a) flntt is in violation of auy Enviromnental Law, (b) which creates an Enviromnental Condition, or (c) which, duc to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of thc Property. The preceding two sentences shall not apply to the presence, use, or storage on file Property of small quantities of Hazardous Substances that are generally recognized to be appropri.'.tte to uornud residential uses and to maintenance of file Property (including, but not limited to, hazardous substances in consmner products). Borrower shall promptly give Lender writteu notice of (a) any investigation, claim, dennmd, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Euviromnental Law of which Borrower has actual knowledge, (b) auy Enviromnental Condition, including but uot limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous SUbstance, and (c) any condition caused by file presence, use or release of a Hazardous Substance which adversely affects fl~e value of thc Property. If Borrower learns, or is notified by any governnmntal or regu!atory authority, or any private party, that any removal or other remediation of any Hazardous Substance ar'letting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordam:e with Enviromnental Law. Nothing herein shall create any obligation on Lender for an Environmental ~.leanup. i~-§(WY) !ooosl Initial~: ~__~ P~2ol~ Form 3051 1/01 NON-UNIFORM COVENANTS. Borrower and Lender furfl~er cove~mnt and agree as folh)ws: 22. Acceleratiou; Remedies. Lender slmll give notice to Borrower prior to acceleration following Borrower's bread~ of any covenant or agree~nem in this Security lostrument (but not prior tu acceleration under Section 1/~.,unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure tbe default; (c) a date, not less titan 30 days from the date the notice is given to Borrower, by wlfich the default must be cured; aud (d) that failure to cure the default on or before the da~e specified in the notice may resolt in acceleratim~ of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default m' any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in l'ull of all sunzs secured by this Security Instrument without furd~er demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect ali expenses incurred m pursuing the remedies provided in tiffs 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 Sectiou 15. Lender shall publish the notice of sale, and the Property shall be sohi iu the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, bnt not limited to, reasonable attorneys' fees; (b) to all sums secured by this Secnrity Instrument; and (c) any excess to t!~e person or persons legally entitled to it. 23. Release. Upon pay:nent of all sums secured by this Security Instrument, Lender shall release tiffs Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a lee tbr releasing tiffs Security Instmtnent, but only it' fl~e fee is paid to a third party for services rendered and the charging of fl~e fee is pernfifled under Applicable Law. 24. Waivers. Borrow~r releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. (~-6(WY) tooo~) P~e ~a o~ ~s Form 3051 1/01 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covemints contained in tiffs Security Instrument and in an,/Rider executed by Borrower and recorded wiflx it. Wittlesses: -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Bmxower (Seal) -Borrower (Seal) -Borrower (Seal) (~6(WY) 1ooo6) Pag~ 14 of lfi Form 3051 1/01 STATE OF WYOMING, LINCOLN The tbregoing instrument was acknowledged before me tiffs by REED RICK MILLER t~ND KELLY J. MILLER County ss: od.?' My Co~mnission Expires: (~-6G(WY} iooosl Page 1 fi o~ 15 Form 3051 1/01 Legal Description Part of Lot 4~ of Block 23 to the Town of Afton, Lincoln County, Wyoming being more particularly described as follows: COMMENCING 90 [eet East of nhe Southwest corner of said Lot 4 and running thence East 75 feet; thence North 330 feet; thence West 75 feet; thence South 330 feet to the POINT OF BEGINNING. 1-4 FAMILY (Assig,m~ent of THIS 1-4 FAMILY RIDER is made this 2ND day of JULY, 2004 and is incorporated into attd shall be deemed to amend and supplement die lvlortgage, Deed of Trust, or Security Deed (the "Security }~nstrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note [oWELLS FARGO BANK, N.A. (the "Lender") of the same date and covering the Property described in the Security lnstmmem and located at: 375 E 5TH AVE, AFTON, WY 83110 [Property Address] 1-4 FAMILY COVENANTS. In addition to the covenants :md agreements made in the Security [nstnlment, Borrower and Lender further covenant and agree as tbllows: A. ADDITIONAL PROPERTY SUBJECT TO TIlE SECURITY INSTRUMENT. In addition to the Property described in the Security Instrmnent, the following ite~ns now or hereafter attached to the Property to the extent they are fixtures are added to the Property description, and shall also constitute the Property covered by the Secarity Instrument: building nmterials, appliances and goods of every nature whatsoever now or hereafter~ located in, on, or used, or intended to be used in cormection with the Property, including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity, gas: water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus, plmubing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, d.sposals, washers, dryers, awrfings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling aud attached floor coverings, all of which, including replace~aents and additions thereto, shall be deemed to be and remain a part of the Property covered by the Security instrument. All of the foregoiug together with Ore Property described itt the Security Instrument (or fl-~e !easehold estate if the Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as the "Property." 0044980357 MULTISTATE 1- 4 FAMILY RIDER - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 1 of 4 (~57R (OO08) VMP MORTGAGE FORMS - (800)52]-7293 B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or nmke a change in thc use of the Property or its zoning classification, unless Lender has agreed in writing to fl~e change. Borrower shall conp~y wiflt all laws, ordi~auces, regulations and requirements of any governmental body applicable to the Property. C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien i~fferior to fl~e Security Imgtrument to be perfected against the Property without Lender's prior written permission. D. RENT LOSS INSURANCE. Borrower shall tmfintain insurance against rent loss in addition to the other hazards/bt which insurance is required by Section 5. E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted· F. BORROWER'S OCCUPANCY. Unless Lender and Borrower oflterwise agree in writing, Section 6 concerning Borrower's occupancy of rite Property is deleted. G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower Ctall assign to Lender all leases of rte Propex'ty and all security deposits made in comlection with leases of fl~e Property. Upon the assigmnent, Lender shall have rte right to modify, extend or ternfinate the existing leases and to execute new leases, in Lender'.s sole discretion. As used in this paragraph G, the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold. H. ASSIGNMENT. OF ~NTS; API~3INTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and unconditiormlly assigns and transfers to Lender all the rents and revennes ("Rents") of the Property, regardless of to whom the Rents of tile Property are payable. Borrower authorizes Lender or Lender's a~'ents to collect the Rents~ and agrees that each tenant of the Property shall pay rite Rents to Lender or Lender's agents. However, Borrower shall receive the Rents notil: (i) Lender has given Borrower notice of default pursuant to Section 22 of fl~e Security Instnnnent, and (ii) Lender has given notice to file tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assigmnent for additiolntl security mdy. If Lender gives notice o( ~/efault to Borrower: (i) all Rents received by Borrower shall be held by Bon'ower as trustee for the benefit of Lender tuffy, to be applied to the sums secured by the Security Instruntent; (ii) Lender shall be entitled to collect and receive all of the Rents of fl~e Property; (iii) (~57R (0008) Page 2 of 4 Initials: ~~. Form 3170 1/01 938 Borrower agrees that each te]mnt of the Property shall pay alt Rents clue and unpaid to Lender or Lender's agents upon Lender's written dennmd to fl~e ten,'mt; (iv) mfless applicable law prey ides otherwise, all Rents collected by Lender or Lender's ageuts shall be applied first to tile costs et' taking control of and nm~mging the Property and collecting C~e Rents, including, but not limited to, attorney's fees, receiver's lees, premiums on receiver's bonds, repair and n~dntenance costs, insurance premiums, taxes, assessments and other charges on the Property,' and then to the sums secured by fl~e Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall 'be liable to account for only those Rents actually received; and (vi) Lender shah be entitled to have a receiver appointed to take possession of and nmnage the Property and collect file Rents and profits derived fi-on! the Property without any showing as to file i~mdequacy of the Property as security. If the Rents of the Property are not sufficient to cover the costs of taking control of and nmnaging the Property and of collecting fl~e Rents any funds expended by Lender for such purposes sllall become indebtedness of Borrower to Lender secured by the Security Instrun~ent pursuaut to Section 9. Borrower represents and .warrants that Borrower has not executed any prior assigmnent of the Rents and has not perforlned, and will not pertbrm., any act that would prevent Lender t¥om exercising its rights under this paragraph. Lender, or Lender's agems .ar a judicially appointed receiver, shall not be required to enter upou? take conm)l of or nmintain the Propmty before or after giving notice of &fault to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any det:ault or invalidate any other right or remedy of Lender. Tiffs assigmnent of Rents of the Property shall terminate when all the sums secured by fl~e Seem'iCy Instrument are paid in full. 1. CROSS-DEFAULT PRi3VISION. Borrower's det:ault or breach under any note or agreement in wlfich Lender has an. interest shall be a breach under file Security hlstmment and Lender may invoke any of the remedies permitted by the SeCurity lnstrmnent. (~57R (0008) Page 3 of 4 Initials: ~ Form 3170 1/01 0900'7$'7 9-,'. BY SIGNING BELOW, Borrower accepts and agrees to tike terms and provisions contained in tlds 1-4 Family Rider. (Seal) -Borrower KELLY J. MILLER -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (0008) Page 4 of 4 Form 3170 1/01