HomeMy WebLinkAbout901085~30733 (02)
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After Recording Return To:
CHERRY CREEK MORTGAGE CO.,
INC.
7600 E. ORCHARD RD #250-N
GREENWOOD VILLAGE , CO 80111
BOOK
REOEIVED
~' ',
Li,lCOI._[ .... , .,,_, CLERK
DEFINITIONS
[SPace Above This Line For Recordiug Data]
MORTGAGE
TAYLOR
LOAN #: 39100006
MIN: 100030200391000062
Words nsed in multiple sections of this document are defined below and other words are defined in Sections 3,
11, !3, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in
Section 16.
(A) "Security Instrument" means this document, which is dated JULY 12, 2004
together with all Riders to this document.
(B) "Borrower"is RUTHAlqhlE REICHERT TAYLOR AND WILLIAM ROBERT TAYLOR, HUSBAND
AND W'I FE.
':!;! 'Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting
solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee umler this
Security Instrument. MERS is organized and existh~g under the laws of Delaware, and has an address and
telephone nmnber of P.O. Box 2026, Flint, M1 48501-2026, tel. (888) 679-MERS.
(D)"Leuder" is CHERRY CREEK MORTGAGE CO. , INC.
Lender is a CORPORATION organized and existing under the laws
of THE STATE OF COLORADO . Lender's address is 7600' E. ORCHARD RD
#250-N GREENWOOD VILLAGE, CO 80111
(E) "Note" means the promissory note signed by Borrower and dated JuLY 12, 2004
The Note states that Borrower owes Lender
NINETY THOUSAND AND 00/100
Dollars (U.S. $ 90,000.00 ) plus interest. Borrower ]]as promised to pay this debt in regular
Periodic Payments and to pay the debt in full not later than AUGUST 1, 2034
(F) "Property" ~neans the property that is described below under the heading "Transfer of Rights in the
Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due
under the Note, and all sums due under this Security Instrument, plus interest.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
DOCUKWYI (Page ] of 13)
DOCUKWY 1 .vTX 06/08/2004
Form 3051 1/01
39100006
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders
are to be executed by Borrower [check box as applicable]:
[] Adjustable Rate R/der [] Condominimn R/der [] Second Hmne Rider
[] Balloon Rid er [] Planned Unit Development Rider [] Biweekly Payment Rider
[] 1-4 Family Rider [] Other(s) [specify]
(ii) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances
and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable
judicial opinions.
(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other
charges that are imposed on Borrower or the Property by a condomilfium associatiou, homeowners association
or similar organization.
(K) "Electronic Funds Transfer" ~neans any transfer of funds, other than a transaction originated by check,
draft, or similar paper instrument, which is hfifiated through an electronic terminal, telephonic instrmnent,
computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
account. Such term includes, bat is not limited to, point-of-sale transfers, automated teller machine transactions,
transfers initiatedby telephone, wire transfers, and automated clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds" means any compeusation, setllement, award of damages, or proceeds paid by
any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) daniage
to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii)
conveyance h~ lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or
condition of the Property.
(N) "Mortgage Insurance" means iusurance protecting Lender against the nonpay~nent of, or default on, the
Loan,
(O) "Periodic Pay~nent" means the regularly scheduled amount due for (i) principal and interest under the
Note, plus (ii) any amounts under Section 3 of this Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. {}2601 et seq.) and its implementing
regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended fi'om time to ti~ne, or any additional
or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument,
"RESPA" refers to all requirements and restrictions 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.
(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or'not
that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and
modifications of the Note; and (ii) the performance of Borrower's covenants aod agreeme~ts under this Security
Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely
as nmninee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, and
Lender's successors and assigns, with power of sale, the following described property located in the
COUNTY of LINCOLN :
(Type of Recording Jurisdiction) (Name of Recording Jurisdiction)
UNIT C-2 OF 'THE PALISADES HEIGHTS TOWNHOUSES, A CONDONIINIUM'ADITION TO THE
TOWN OF ALPINE; LINCOLN COUNTY, WYOMING, ACCORDING TO THAT PLAT FILED IN THE
OFFICE OF THE COUNTY CLERK ON OCOBER 8,1993 AS INSTRUMENT NO. 249-A
WYOMING -Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
ooctmwY2 (/'age 2 of 13)
DOCUKWY2 ,VTK 06/0~/2004
Form 3051 1/01
which currently has the address of
[City]
186 PIORNINGSTAR DRIVE
[Street]
, Wyoming 8 312 8
[Zip Code]
39100006
("Property Address").
TOGETHER WITH all the hnprovements now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
"Property." Borrower tmderstands and agrees that MERS holds ouly legal title to the h~terests granted by
Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee tbr
Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including,
but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender
including, but not limited to, releasing and canceling this Security Instrument.
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims
and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
covenants with limited variations by jurisdiction to constitute a unit'brm security instrument covering real
properly.
UNIFORM COVEN&NTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note aud any
prepayment charges and late charges due under the Note. Bon'ower shall also pay funds for Escrow Items
pursuant to Section 3. Payments due under the Note and this Secm'ity Instrument shall be ~nade in U.S.
cm-rency. However, if any check or other instrument received by Lender as payment under the Note or this
Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due
under the Note and this Security Instrument be made in one or more of the following forms, as selected by
Lender: (a) cash; (b) ~noney order; (c) certified check, bank check, treasurer's check or cashier's check,
provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at
such other location as may be designated by Lender in accordance with the notice provisions h~ Section 15.
Lender may return 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 current,
without waiver of any rights hereunder or prejudice to its rights to refiise such payment or partial payments in
the future, but Lender is not obligated to apply such payments at the time such payments are'accepted. If each
Periodic Payment is apPlied as of its scheduled due date, then Lender need not pay h~terest on. unapplied rituals.
Lender may hold such unapplied funds 'until Borrower makes payment to bring the Loan current. If Borrower
does not do so within a reasonable period of time, Lender shall either apply such funds or remm them to
Borrower. If not applied earlier, such funds will be applied to the outstanding principal bahmce under the Note
immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against
Lender shall relieve Borrower from making payments due under the Note and this 'Security Instrument or
performing the covenants and 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 shall be applied in the following order of priority: (a) interest due
under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be
applied to each Periodic Payment in the. order in which it became due. Any remaining amonnts shall be applied
first to late charges, second to any other amounts due nnder this Security Instrument, and then to reduce the
principal balance of'the Note.
WYOMING - Single Fami y - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Docurw¥3 (Page 3 of 13)
DOCUKWY3 .VTX 06/08/2004
Form 3051 1/01
39100006
If Lender receives a payment fi'om Borrower for a delinquent Periodic Payment which includes a
sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the
late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from
Borrower to the repayment of the Periodic Payments it; and to the extent that, each payment can be paid in full.
To the extent that any excess exists after the payment is applied to the full payment of'one or more Periodic
Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to
any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under
the Note shall not extend or postpone the due date, or change the amount, of thc Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for:
(a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or
encmnbrance on the Property; (b) leasetiold 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 premiums, if any, 02' any
sums payable by Borrower to Lender in lieu of the pay~nent of Mortgage Iosm'ance premiums in accordance
with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during
the te~Tn 0fthe Loan, Lender may require that Cormnmfity Association Dues, Fees, and Assessments, if any, be
escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for
Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender
may waive Borrower's obligation to pay to Lender Fnnds for any or all Escrow Items at any time. Any such
waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where
payable, the amounts due for any Escrow [rems Ibr which payment of Fuuds has been waived by Lender and, if
Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender
may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be
deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and
agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver,
and Borrower fails to pay the mnount due for an Escrow Item, Leuder lnay exercise its rights under Section 9
and pay such amount and Borrower shall then be obligated under Section 9 to repay.to Lender any such
an~ount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such
mnounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
the Funds at the thne specified under RESPA, and (b) not to exceed the maximum amount a lender can require
under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable
estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
The Funds shall be held in an institution whose deposits are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any
Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Itmns no later than the time
specified under RESPA. Lender shall not charge Borrower tbr holding and applying the Funds, annnally
analyzing the escrow account, or'veri~ing the Escrow Itetns, unless Lender pays Borrower interest on the
Funds and Applicable Law pennits Lender to make such a charge. Unless an agreement is made in writing 02'
Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any
interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid
on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by
RESPA.
if there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as
defined under RESPA, Lender shall notify Borrower as required by 1DESPA, and Borrower shall pay to Lender
the amount necessary to ~nake up the shortage in accordance with RESPA, but in no more than 12 nmnthly
payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify
Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
Borrower any Funds held by Lender.
WYOMING - Single Family - Fannie Mae/Freddie l¥1ac UNIFORM INSTRUMENT Form 3051 1/01
Docut<w¥4 (Page 4 of J3)
DOCUIGT~ 4 .VTX 06/08/2004
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39100006
disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the
work is completed. Unless m~ 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 earnings on such
proceeds. Fees tbr 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 economically
feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by
this Security Instrmnent, whether or not then due, with the excess, if an~;, paid to Bm,owen Such insorance
proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insm'ance claim
and related matters. If Borrower does not respond within 30 days to a notice fi'om Lender that the insurance
carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or
otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not
to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights
(other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies
covering the Property, insofar as Such rights are applicable to the coverage of the Property. Lender may use the
insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this
Security Instrument, whether or not then due.
6. Occupancy, Borrower shall occupy, establish, and use the Property as Borrower's principal
residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender
otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
circmnstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property.
Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in'order to prevent
the ProPerty fi'om deteriorating or decreasing in value clue to its condition. Unless it is determined pursuaot to
Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if
damaged to avoid fimher deterioration or damage. If insurance or condemnation proceeds are paid in
colmection with damage to, or the taking or; the Property, Borrower shall be responsible for repaMng or
restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds
for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.
If the h~surance or condemnation proceeds are not sufficient to repair or restore the Property, Bon'ower is not
relieved of Borrower's obligation for the completion of such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Properly. If it has
reasonable cause, Lender may inspect the interior of the improvements onthe Property. Lender shall give
Borrower notice at the time of or prior to such an interior inspection speci¢ing such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default it; during fl~e Loan application process,
BOn'ower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or
consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to i~'ovide
Lender with material information) in cmmection with the Loan. Material representations include, but are not
limited to, representations concerning Borrower's occupancy of the Property as Borrower's prificipal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a
legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this
Security Instrument (such as a proceeding in bankruptcy, probate, for condenmation or forfeiture, fur
enforcement of a lien which ~nay attain priority over this Security Insm:ment or to enforce, laws or regulations),
or (c) Borrower has abandoned the Property, then Lender may do and pay fbr 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 repaMng the Property. Lender's
actions can include, but are not li~nited to: (a) paying any stuns secured by a lien which has priority over this
Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in
the Property and/or rights under this Security instrument, including its secured position in a bankruptcy
proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change
locks, replace or board up doors and windows, drain water fi-om pipes, eliminate building or other code
WYOMING - Single Family - Fan.lc MadFreddie Mac UNIFORM INSTRUMENT
DOCUKWY6 (Page 6 of 13)
DOCUKWY6. VTX 06/0B/200~
Forn~ 3051 1/01
39100006
violations or dangerous Conditions, and have utilities turned on or off. Although Lender may take action under
this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. it is agreed that
Lender incurs no liability for not taking any or all actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice fi'om Lender to BOrrower requesting
payment.
If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the
lease. Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the
ground lease. Borrower shall n6t, without the express written consent of Lender, alter or amend the ground
lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender
agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect, it~ for any reason, the
Mortgage Insurance coverage required by Lender ceases to be available fi.om the mortgage insurer that
previously provided such insurance and Borrower was required to make separately designated payments toward
the premimns for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage
substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the
cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by
Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to
pay to Lender the amount of the separately designated payments that were due when the insurance coverage
ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu
of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is
ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss
reserve. Lender can no longer require loss reserve payments if Mortgage insurance coverage (in the amount and
for the period that Lender requires) provided by an insurer selected by Lender again beco~nes available, is
obtained, and Lender requires separately designated payments toward the premiums tbr Mortgage Insurance. If
Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make
separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until
Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between
BorroWer and Lender providing fbr such termination or until termination is required by Applicable Law.
Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
Mortgage Insm'ance rehnburses Lender (or any entity that purchases the Note) for certain losses it may
incur if Borrower does not repay the Loan as agreed. Borrower is nora party to the Mortgage Insurance.
Mortgage insm'ers evaluate their total risk on all such insurance in lbrce fi'om time to time, and ~nay
enter into agreements with other parties that share or modify their risk, or reduce losses. These agree~nents are
on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these
agreements. These agreements may requh'e the mortgage insurer to make payments using any source of fimds
that the mortgage insurer ~nay have available (which may include fimds obtained fi'om Mortgage Insurance
premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsm'er, any
other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for
sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate
of Lender takes a share of the insurer's risk in exchange for a share of the premimns 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 o.ther terms of the Loan. Such agreements will not increase the amount
Borrower will owe for Mortgage Iusurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will cot affect the rights Borrower has - if any - with respect to the
Mortgage lnsurauce under the Homeowners Protection Act of 1998 or any other law. These rights may
include the right to receive certain disclosures, to request and obtain cancellatiou of the Mortgage
Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of auy
Mortgage Insurance premiums that were unearned at the time of such cancellation or terminatiou.
%VYOMING - single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01
DOCUKWY7 (Page 7 of I 3)
DOCIJKr~y 7 .VTX 06/08/2004
0 01085
39100006
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 sucl~ Miscellaneous Proceeds until Lender has
had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisthction;
provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a
single disbursement or in a series of progress payments as the work is completed. Unless an agreement is ~nade
in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoratiou or repair is
not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied
to the stuns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
Borrower. Such Miscellaneous Proceeds shall be applied in the orde,' provided for in Section 2.
In the event of a total taking, destruction, or loss in value of tile Property, the Miscellaneous Proceeds
shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if'
any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property innnediately before the partial taking, destruction, or loss ill value is equal to or greater
than the amount 0f the sums secured by this Security Instrument immediately before tile partial taking,
destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this
Security h~strument shall be reduced by the amount of the Miscellaneous Proceeds ~nultiplied by the tbllowing
fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in
value divided by (b) the fair market value of the Property i~mnediately betbre the partial taking, 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 the Property in which the fair market
value of the Property inmaediately before the partial taking, destruction, or loss in value is less than the amount
of the sums secured hmnediately before the partial taking, destruction, or loss in value, unless Borrower and
Lender otherwise agree in writing, the Miscellaoeous Proceeds shall be applied to the sums seem'ed by this
Security Instrument whether or not the sums are then due.
If the Property is abandoned'by Borrower, or if, after notice by Lender to Borrower that the Opposing
Party (as defined ill the next sentence) offers to make an award to settle a claim tbr damages, Borrower thils 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 Secm'ity
Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous
Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
Lender's judgment, could result in forfeiture of the Property or other material impairment.of Lender's interest
in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration
has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
ruling that, in Lender's judg[nent, precludes fbrfeiture of the Property or other material impairment of Lender's
interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for
damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and
shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
in the order provided fbr in Section 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 Borrower shall not operate to release the liability of Borrower or any
Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any
Successor in Interest of Borrower or to refuse tO extend time for payment or otherwise modify amortization of
the stuns secured by this Security Instrument by reason of any demand made by the original Borrower or any
Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including,
without lhnitation, Lender's acceptance of payments from third persons, entities or Successors in lnterest of
Borrower or in mn0unts less than the amount then due, stroll not be a wa iver of or preclude the exercise of any right 0r remedy.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01
DOCmCWVa (Page 8 of l $)
DOCUKWY 8 .VTX 06/08/2004
39100006
13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants
and agrees that Bon-ower's obligations and liability shall be joint and several. However~ any Borrower who co-
signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security
Instrument only to mortgage, grant and convey the co-signer's interest itl the Property under the terms of this
Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c)
agrees that Lender and any other Borrower can agree to extend, modify, fo,'bear or make any accommodations
with regard to the terms of this Security Instrument or the Note without the co-signer's consem.
Subject to the prowsions of Section 18, any Successor m Interest of Borrower who assumes
Borrower's obligations trader this Security Instrument in writing, and is approved by Lender, shall obtain all of
Borrower'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
covenauts and agreements of this Security Instrmnent shall bind (except as provided in Section 20) and benefit
the successors and assigns of Lender.
14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
Borrower's default, for the purpose 0fprotecting Lender's interest in the Property and rigbts under this Security
Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to
any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower
shall not be construed as a prohibition on the charging of such tee. kender may not charge fees that are
expressly prohibited by this Security instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
that the interest or other loan charges collected or to be collected in connection with the Loan exceed the
permitted limits, then: (a) any such loan charge shall be reduced by tile amount necessary to reduce the charge
to the permitted limit; and (b) any sums ah'eady collected fi.om Borrower which exceeded permitted limits will
be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the
Note or by making a direct payment to Borrower. Ifa refund reduces principal, the reduction will be treated as a
partial prepayment without any prepayment charge (whetber or not a prepayment charge is provided fbr under
the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a
waiver of any right of action Borrower might bare arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in com~ection with this Security Instrument must
be in writing. Any notice to Borrower in connection with this Security h~strument shall be de~emed to have been
given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if
sent by otber 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 has designated
a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of
address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only
report a change of address through that specified procedure. There may be only one designated notice address
under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by
mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by
notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been
given to Lender until actually received by Lender. If any notice required by this Security Instrument is also
required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement
under this Security Instrument.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be
governed by federal law and the law of the jurisdiction in which 'tile Property is located. All rights and
obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable
Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent,
but such silence shall not be construed as a prohibition against agreement by contract. In the event that any
provision or clause of this Security instrument or the Note conflicts with Applicable Law, such conflict shall
not affect other provisions of this Security Instrument or the Note which can be given effect without the
conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include
corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include
the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take 'any
action.
WYOMING - Single Family -Fam, ie Mae/Freddie Mae UNIFORM INSTRUMENT
r)ocmcwY9 (Page 9 of lJ)
DOCUKWY 9 .VTX 06/08/2004
Farm 3051 1/01
078
39~00006
17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18,
"Interest in the Property" means any legal or beneficial interest ill the Property, including, but not limited to,
those beneficial interests transferred in a bond for deed, contract for deed, instalhnent sales contract or escrow
agreement, the intent of which is the transfer of title by Borrower at a future date to a purthaser.
if all or any part of the Propeixy or any Interest in the Property is sold or transferred (or if Borrower is
not a natural person and a beneficial interest in Bon'ower is sold or transferred) without Lender's prior written
consent, Lender may require immediate payment in fidl of all sums secured by this Security Instrument.
However, this option shall not be exercised by Lender if such exercise is prohibited b)) 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 fi'om the date the notice is given in accordance with Section 15 within
which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums
prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument
without further notice or demand on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,
Borrower shall have the right to have enforcement of this Securib, Instrument discontinued at any time prior to
the earliest of(a) five days betbre sale of the Property pursuant to any power of sale contained in this Security
histrument; (b) such other period as Applicable Law might specify for the termination of Bon'ower's right to
reinstate; or (c) entry of a judgment enforciug this Security Instrument. Those conditions are that Borrower: (a)
pays Lender all sums wbich th en would be due under this Security [nstrunient and the Note as if no acceleration
had occurred; (b) cures any default of any other covenants or agreements; (c) pays all.expenses incurred iii
enforch~g this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection
and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and
rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that
Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the
sums secured by this Security Instrument, shall continue unchanged. Lender may require that Bon-ower pay
such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash;
(b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check
is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d)
Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured
hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not
apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in
the Note (together with this Security Instrument) can be sold one or more times without prior notice to
Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic
Payments due under the Note and this Security lnstrmnent and performs other mortgage loan servicing
obligations under the Note, this Security instrument, and Applicable haw. There also might be one or more
changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower
will be given written notice of the change which will state the name and address of the new Loan Servicer, the
address to which payments should be made and any other infor,nation RESPA requires in cmmection with a
notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Serx ~cer other
than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loau
Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless
otherwise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be joined to auy judicial action (as either an
individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security
Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this
Secm'ity Instrument, until such Borrower or Lender has notified the other party (with such notice given iix
compliance witb the requirements of Section 15) of such alleged breach and afforded the other party hereto a
reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a tinge
period which must elapse before certain action can be taken, that time period will be deemed to be reasonable
for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to
Section 22 and the notice of acceleration given to Borrower pursuant to Sectiou 18 shall be deemed to satisfy
the notice and opportunity to take corrective action provisions of this Section 20.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT l?orm 3051 1/01
r~ocm<wYm (Page 10 oil3)
DOCLNfWYA. VTX 06/08/2004
'"079
39100006
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those
substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the
following substances: gasoline, kerosene, other flanmlable or toxic pet,'oleum products, toxic pesticides and
herbicides, volatile solvents, materials containing asbestos or fomaald~hyde, 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) "Enviro~m~ental Cleanup" includes any response action,
remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition"
means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup.
Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous
Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor
allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b)
which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous
Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences
shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that
are generally recognized to be appropriate to normal residential uses and to maintenance of the Property
(including, but not limited to, hazardous substances in consumer products).
Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or
other action by any governmental or regulatory agency or private party iuvolving the Property and any
Hazardous Substance or Envirorm~ental Law of which Borrower has actual kamwledge, (b) any Environmental
Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any
Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance
which adversely affects the value of the Property. if Borrower learns, or is notified by any goverrm~ental or
regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance
affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance
with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lender tLrther covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
Borrower's breach of any covenant or agreement in this Secn,-ity lustrument (but not prior to
acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) tl~e
default; (b) the action required to cure the default; (c) a al.ate, not less than 30 days from the date the
notice is given to Borrower, by which the default must be cured; aud (d) that failure to cure the default
on or before the date specified in the uotice may result in acceleration of the sums secured by this
Security Instrument and sale of the Property. The notice shall further inform Borrower of tbe right to
reinstate alter acceleration and the right to bring a court action to assert the non-existence of a default or
any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date
specified in the notice, Lender at its option may require immediate payment i,~ full of all sums secured by
this Security Instrument without further demand and ~nay iuvoke the power of sale and any other
remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in
pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys'
fees and costs of title evideuce.
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 diffe,-ent, in accordance with Applicable Law. Lender
shall give notice of the sale to Borrower in the manner Provided in Section 15. Lender shall publish the
notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its
designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following
order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' lees; (b) to all
sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to
it.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this
Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing
this Security Instrument, but only if the fee is paid to a third party fol' services rendered and the charging of the
fee is permitted under Applicable Law.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
DOCUKWY~ (Page 11 nfl3)
~ocumvr~.wx o~/o~/~oo~
Form 3051 1/0l
080
39100006
24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption
laws of Wymning.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this
Security Instrument and in any Rider executed by Borrower and recorded with it.
- OR_ROWER - RUTHANNE RE1K1HERT ~I~R~'By-I~T'H~,RI~IE REICHER~ KERNEYJ A~
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
DOCUKWYi2 (Page 12 of 13)
DOCUKWYC, VTX 06/08/2004
Form 3051 1/01
39100006
[Space Below This Line For Acknowledgmentj
STATE OF 5t~Z>kq:~ //_-/___/~ / ~
COUNTY OF ~~
The foregoing instrument was ac~owledged before me by RUT~ ~ ~CH~R~ ~YLOR ~
WILLI~ ROBERT TAYLOR, ~r: ._-:._ -~;-. -_.- . BY ~THERINE REIC~RT K~NEY
A~RN~ IN FA~
this 12TH day of aLrLY, 2004
Witness my hand and official seal
OFFICIAL SEAL"
Diana B. Howcroft
Notary Public, State of llli,mis
LM..Y~_C_o_m_m.i!sion Exp. 02/10/2008_ _
WYOMING - Single Family - Fannie Mae/F)eddie Mac UNIFORM INSTRUMEN'I
DOCUKWYI3 (Page 13 oJ'13)
DOCUKWYD ,VTX 06/08/2004
Form 3051 1/01
CONDOMINIUM RIDER
TAYLOR
LOAN #: 39100006
MIN: 100030200391000062
THIS CONDOMINIUM RIDER is made this 12TH day of JULY, 2004 , and is
incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trnst o1' Security Deed (the
"Security h~strument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to
CHERRY CREEK MORTGAGE CO., INC.
(the "Lender") of the same date and covering the Property described in the Security Instrmnent and located at:
186 MORNINGSTAR DRIVE, ALPINE, WY 83128
[Property Address]
The Property includes a nnit in, together with an undivided interest m the common elements of, a condominimn
project known as: ALPllffE
[Name of Condominium Project]
(the "'Condominium Project"). If the owners association or other entity which acts for the Condominium Project (the
"Owners Association") holds title to property for the benefit or use ot' its members or shareholders, the Property
also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Borrower's
interest.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements lnade in the Security
Instrument, Borrower and Lender further covenant and agree as follows:
A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the
Condominiuln Project's Constituent Documents. The "Constituent Docunlents" are the: (i) Declaration
or any other document which creates the Condominium Project; (ii) by-laws; (iii) code of regulations;
and (iv) other equivalent documents. Borrower shall promptly pay, when due, all dues and assessments
imposed pursuant to the Constituent Documents.
B. Property Insurance. So long as the Owners Association maintains, with a generally accepted
insurance carrier, a "master" or "blanket" policy on the Condominium iProject which is satisfactory to
MULTISTATE CONDOMINIUNI RIDER--Single Fmnily--Fannie Mae/Freddie Mac UNn:ORM INSTRUMENT Form 3140 1/01
DOCUROAI (page I of 3 pages)
DOCUROA1 ,VTX 10/15/2002
-O83
39100006
Lender and which provides insurance coverage in the amounts (including deductible levels), for the
periods, and against loss by fire, hazards included within the term "extended coverage," and any other
hazards, including, but not limited to, earthquakes and floods, from which Lender requires insurance,
then: (i) Lender waives the provision in Section 3 for the Periodic Pa)merit to Lender of the yearly
premium installments for property insurance on the Property; and (ii) Borrower's obligation under
Section 5 to maintain property insurance coverage on 'the Property is deemed satisfied to the extent that
the required coverage is provided by the Owners Association policy.
What Lender requires as a condition of this waiver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance coverage
provided by the master or blanket policy.
In the event of a distribution of property insurance proceeds in lieu of restoration or repair
following a loss to the Property, whether to the unit or to common elements, any proceeds payable to
Borrower are hereby assigned and shall be paid to Lender for application to the sulns secured by the
Secm'ity Instrument, whether or not then due, with the excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure
that the Owners Association maintains a public liability insurance policy acceptable in form, amount,
and extent of coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or consequential,
payable to Borrower in connection with any condenmation or other taking of all or any part of the
Property, whether of the unit or of the cormnon elements, or fbr any conveyance in lieu of
condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by
· Lender to the sums secured by the Security Instrument as provided in Section 11.
E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's
prior written consent, either partition or subdivide the Property or consent to: (i) the abandomnent or
termination of the Condominium Project, except for abandonment or termination required by law in the
case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or
eminent domain; (ii) any amendment to any provision of the Constit'uent Documents if the provision is
for the express benefit of Lender; (iii) termination of professional management and assumption of self-
management of the Owners Association; or (iv) any action which would have the effect of rendering the
public liability insurance coverage maintained by the Owners Association unacceptable to Lender.
F. Remedies. If Borrower does not pay condominium dues and assessments when due, then
Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become
additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to
other terries of payment, these amounts shall bear interest from the date of disbursement at the Note rate
and shall be payable, with interest, upon notice from Lender to Borrower requesting payment.
MULTISTATE CONDOMINIUM RIDER-~qingle Fmnily--Fa.nie Mae/Freddie Mac UNIFORM INSTRUMENT
DOCLrROA2 (page 2 of 3 page~;J
DOC~JROA2 .VTX 10/15/2002
Form 3140 1/01
BY SIGNING BELOW, Borrower accepts and agrees to the tenns and prowsions contained in this Condominium
Rider.
MULTISTATE CONI)OMIN1UM RIDER-~qingle Fain ily--Fanaie Mae~'reddie Mac UNIFORm% I INSTRUMENT
DOCUROA3 (page 3 of 3 page.9
DOCUROA3 .VT;{ 10/15/2002
Farm 3140 1/01