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HomeMy WebLinkAbout90203430893'* (04) After Recording Remm To: FIRST NATIONAL BANK-WEST PO BOX 3110, 100 GREYS RIVER ROAD ALPINE, WYOMING 83128 RECEIVED _INCOLN ()()lINTY CLERK DEFINITIONS [Space Above This Line For Rec()r(ling Data] MORTGAGE Loan Nmnber 60350509 MERS Number 100015700039795121 Words used in mnltiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document 'dfc also provided in Section 16. (A) "Security Instrument" means this document, which is dated AUG UST 10, 2004, together with all Riders to this document. (B) "Borrower" is BENJAMIN W. JONES, A SINGLE MAN and WILLIAM C JONES and I,INI}A S JONES, }IUSBANI) And WIFE. Borrower is the mortgagor tinder this Security lnslru~neut. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. IVlERS is a separate corporation that is acting solely asa nominee tbr Lender and Lender's successors and assigns. MERS is the mo,'lgagee under this Security Instrument, MERS is organized m-~d existing under the laws of Delaware, mid has an addrc~,;s and telephoue uumber of P.O. Box 2026, Fliut, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is FIRST NATIONAL BANK-WEST. Lender is a C¢)Ri'()RATION organized and existiug raider the laws of WYOMING. Lender's address is PO BOX 3110, 100 GREYS RIVER R()AD, AIA'INE, WYOMING 83128. (E) "Note" means the promissory;note signed by Borrower and dated A I Ii iTl ST 10, 2004. The Note stales that Borrower ()wes Leuder ONE }IIINDRED TWENTY THOIJSAND AND 00/100tbs D~fllars (U.S.$120,000.00)plus interesl. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than SEiq'EMBER 1, 2034. (F) "Ih'operty" means the property that is described below nnder the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any l)repayn~ent charges and late charges due under the Note, and all sums due under this Secmity Instrument, plus interest. (H) "Riders" ineans all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ~ Adjustable Rate Rider [] Condominimn Rider [-] Second Ilomc Rider [] Balloon Rider [] Planned [Init Development R Mcr [] Other [Si)ecl fy] ~ 1-4 Family Rider ~JBiweekly Payment Rider ~,¥YOMFING--Singlc Family-Fannie Mae/Freddie Mac UNIFORM INSTRU~II,hNT Bor ro,.vel Inilials Form 3051 Initials~ Initi~~,~.. l/Ol (page 7 ofll pages) (I) "Applicable Law" means all controlling applicable federal, si:tlc 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 titles, fees, assessments anti other charges that are imposed on Borrower or the Property by a condominimn association, houtct}wncrs association or similar organizalion. (K) "Electronic Funds Transfer" means any transfer of funds, other thau a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic termiual, tc'lcphonic inslrttnient, computer, or magnetic tape so as to order, instnmt, or attthorize a financial institmion to debit ov credit an account. Snch term iucludes, bu[ is not limited to, point~of-sale transfers, atttomated teller machine transactions, transfers initiated by telephone, wire lransfers, attd automated cleariughouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (Mi "Miscellaneons Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any Ihird party (other than insurance proceeds paid under the coverages described itt Section 5) for: (ii damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the P,'operly; (iii) cortveyance in lien of conderunatiou; or (iv) misrepresentations of, or omissions as to, the value and/or condition of thc Pt'opcrty. (N) "Mortgage Insurance" means insurance protecting Lender against thc ntml)ayment of, or defanlt on, the Loan. (O) '"Periodic Payment" means the regularly scheduled amount due for (ii principal and intere'st under the Note, pins (ii) any amounts under Section 3 of this Security Instrument. (Pi "RESPA" means the Real Estate Settlement Procednres Act (12 U.$.C. § 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be an~ended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Secnrity lnstrtuncnt, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage It)au" even if the Loan does not qualify as a "federally related mortgage loan" tinder RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken lille to the Property, whether or not that party has assumed Borrower's obligations under thc Note and/or this Security Instrument. TRANSFER OF RIGIITS IN THE PROPERTY This Security Instrument secures to Lender: (ii the repayment of the Loan, aud all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements trader this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and l.eudcr's successors and assigns) and to the successors m~d assigns of MERS, with power of sale, the tbllowing described property located in the Count~L of LINCOLN : [Type of Recording Jurisdiction] [Name of Recording Jurisdictionl LOT TWENTY-TItREE (23) IN STAR VALLEY RANCH PLAT FOr IRTEEN (14) AS PLATTED AND RECORDED 1N TIlE OFFICIAL RECORDS OF LINCOLN COI/NTY, W'¥OMIN(; which currently has thc address of 424 SOLITUDE DRIVE TItAYNE , Wyoming 83127 ("lh'ol}crty Add!-ess"): [City] [Zip Code] YVYOMING--Single Family--Fannie Mae/l?reddie Mac UNIFORM INSTI>,UNII{:NT Form 3051 Y/01 O~age ~ oj' ~ I~ageO o9o2:oa4 0115 TOGETHER WITH all tile improvements now or hereafter erected on the property, and all easemenls, appurtenances, and fixtures now or hereafter a part of the property· All replacements m~d atld~lioas shall also be covered by this ~ecurity l,~strmnent. All of the foregoing ~s referred ~o in this Security hlstrument as the "Pl'lq~erty." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower tn this Security Inslrument, bt~t, if necessaiy to comply will law or ctlstom, MERS (as nominee for Lender and Lender's Sllccessors a~ld assigns) has the right: to exercise any or all of interests, including, but not limited to, the right to foreclose and sell ~llc Property; and to take ally a£.'llon required o!' Lender including, bnt not limited to, releasing and canceling this Securit}, lnstrumcut. BORROWER COVENANTS lhat Borrower is lawfully seised of thc estate hereby cot'lveyed and has the right to mortgage, grant and convey the Property and that the Property is uncncumhered, cxccpl for encmnbrm~ces of record. Borrower wanauts and will defend generally the title to the Property against all claims and delll:'lnds, subject to any encufl, lbfances of record. Tills SECURITY INSTRUMENT combines nniform covenants fin- mttional use and non-uniforrn covenants with limiled variations by jurisdiction to constitute a uniform security instrument coveriug real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree a.s lbllows: 1. Payment of l'rincipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, lhe debt evidenced by thc Note and auy prepayment charges aud late charges due lmder the Note. Borrower shall also pay funds for Escrow Items pursuant to Sectiou 3. Paymeuts due under the Nme and this Sccm-ity Instrument shall be made in U.S. currency. However, if any check or olhcr iustrument received by l.ender as payn~ent under the Note or this Security Instrument is returned to Lender uupaid, Lender may require lhat any Or all subsequent paymer~ts due under the Note and this Security lnstninlent be made in one or more of the following forms, ns selected by Lender: (at cash; (bt lno~ley order; (ct certified check, bank check, treasnrer's check or cashier's check, provided any such check is drawn upon an iustitmion whose deposits are insured by a federal agency, instnunentality, or entity; t.~r (ti) Electronic Funds Transfer. Payments are deemed received by Lender when received at the locatio,~ designalcd in ihe Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Leuder may return ally [)ayment or partial payment if the payment or partial payments are insufficient to bring the l.oan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such paymeuts are accepted. If each Periodic Payment is applied as of its scheduled duc dale, then Leuder need not pay inlet'est on unapplied funds. Lender may hold such unapplied funds until Borrower makes paymeut to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such ftmds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note inunediately prior to lbreclosure. No offset or claim which Borrower might have now or in the future against l.cmler shall relieve Borrower from making payments due tinder the Note and this Security Instnmtent or performing the covenants and agreements secured by this Security Instrmnent. 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: (at init'rest due under the Note; (bt principal duc undel the Note; (ct 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 trader this Security Insmnnent, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amOunl lo pay any late charge due, the payment may be applied to the delinqnent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received fi'om Borrower to the repayment of thc Periodic Payments it', and to the extent that, each payment can be paid in full. To the extent thai any excess exists after thc payment is applied to the full payment of one or more Periodic Payments, such excess may bc apl)tied to any late charges due. Vol tmtary prepayments shall be applied first to any prepayinent charges aud then as described in thc Note. Any application of payments, insurance proceeds, or Miscellancou_~ Proceeds to principal due m'tder the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payntcnts. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day l'criodic Payments are due under the Note, until the Note is paid iii full, a sum (the "Ftmds") to provide for payment of amotmts title for: (a) taxes and assessmtmts and other items which can attain priority over this Security lnstrmnent as a lien o,-c~cttmbral~ce (tn the Property; (bt leasehold payntetus ground rents on the Property, if any; (ct premiums for any and all it~stn-ance required hy Lender under Section 5; ami (d) Mortgage Insurance premiums, if ally, or auy sums payable by Borrower t~ I crater in lieu of the payment of lVlorigage lnsurauce premiums in accordance with the provtsions of Section 10. These items arc called "Escrow rictus." At origination or al any time during the term of the Loan, Lender may require that Community ,:\ssociation Dues, Fees, m~d Assessments, if a,ty, be t,¥YOI¥11NG--Single Family- Fannie Mae/F,'eddie IMac UNIFORM INSTR/IMI}NT Form 3051 Y/OI (p~ge ~ of ! l-'pasex) escrowed by Borrower, and such dues, fees and assessments shall bc a~t Escrow Item. Borrower shall plomptly liu'nish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Leuder 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 obligalton to pay to Lender Funds Ibr any or all Escrow Items at any time. Any such waiver may only be in writing, ht the event of snt:h waiver, Borrower shall pay directly, when and where payable, the amotmts duc for auy Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Louder receipts evidencing suchpaymenl within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall lktr all purposes be deemed to be a covenant and agreement contaifled in this Security histrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow hems directly, pursuant to a waiver, and Bm-rowel fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pity such amouut and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Louder may revoke the waiver as lo auy or all Escrow Items at any time by a notice given in accordance with Sectitm 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section g. Lender may, at any time, collect and hold Funds in an amount (a) suffit:icnt to pemfit Lender to apply the Euuds at the rune specified uuder RESPA, and (b) not to exceed the maximum amount a lclidcr can require nnder RESPA. Lender sball estimate the amount of Funds due on the basis of current data and reasonable estimates oi"expendimres of future Escrow hems or otherwise iu accordance with Applicable Law. The Funds sh,-dl be held in an institution whose deposits are insured by a feder;d agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or ill any Federal ltome Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later thau the time specified umlcr RESPA. Lender shall not charge Borrower holding and applying the Funds, annually analyzing the escrow account, m-verifying the Escrow Items, unless Leuder pays Borrower interest ou the Funds and Applicable Law permits Leuder to make such a charge. Unless all agreement is made ill writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on tile Eunds. Lender shall give to Borrower, without charge, an annual accounting of the Fuuds as required by RESPA. If there is a surplus of Fnnds held ii1 escrow, as defined under RI~NI'A, Leuder shall acconnt to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held iu escrow, as defined umler RESPA, Lender shall Borrower as required by RESPA, and Borrower shall pay to Lender tile alnount uecessary to make np the shortage in accordance with RESPA, but in no more than 12 monthly paymems. If there is a deficiency of Funds held in escrow, as defmed 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 paymeuts. Upon payment in full of all sums secured by this Security Instrmncnt, l.ender shall promptly relied to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, aud impositions attributable to the Property which can attain priority over this Security lnstnnnent, leasehold payntcnts or ground rents on the Property, ii' arty, and Cormnunity Association Dues, Fees, and Assessments, it-,'my. To the e×tenl that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long ils Borrower is performing such agreement; (b) contests thc lieu in good fitith by, or dclbnds against enforcement of thc lien itl, legal proceedings which in Lender's opinion operate to prevent the enforcement of die lien while Ihose proceedings are l)cmling, but only until such proceedings are concluded; or (c) secures from thc holder of the lien an agreement satisfactory to l.endcr subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Secnrity Instrument, Lender may give Borrower a notice identifying lhe lien. Within 10 days of ibc date on which that notice is given, Borrower shall satisfy the lien or take one or more of the aclions scl lkn'th above in this Section 4. Lender may require Borrower to pay a one-time ch,n-ge for a real estate tax verification and/or reporting service used by Lender itl connection with this Loan. 5. lh'operty Insurance. Borrower shall keep thc improvements nc)w cxi~/ing or hereafter erected ou the Prol)er~y insured against loss by /'ire, hazards included within tile term "exiended coverage," and auy other hazards including, but m)t limimd earthquakes and floods, tier which Lender requires insurance. This insul'ance shall be maintamed itl thc amounts (ir~chidmg deductible levels) and for tile periods that Lender requires. What Lcmlc~- t'cquires pnrstmnt to the preceding sentences can change during the term of tile Loan. Tbe insurance carrier providing thc iiisurancc shall be chosen by Borrowt:r subicct It/ Lender's right to disapprove Borrower's choice, which right shall uot be cxcrc'iscd unreasonably. [.ender may reqtmc ~,¥YOMING--Smgle Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ,..;., · . : {';. , . to pay, in connection wilh ii, is Loan, either: (a) a one-trine charge for flood zonedetennin~tion, certil*ic~iion and services; or (h) a one-dine charge for flood zone determhmlion and cc~hlic~fion services ~d subsequcul charec, each rcmappines or similar changes occur which reasonably might affect such dclc~ntina[ion or cerfificatiom Borrowc[ shall also he responsible for the paymem of any gees imposed by [lin Federal Emer~c~c) M~ma¢cmen[ A~ency in counection wilh dm review o¢ any flood zone determh~ation resulting from an objection by Borrower I¢ Bo~ower gmls [o maimai~ any of d~e coverages described ab,}vc, Louder may obtaiu insnrauce coverage, at Lender's option and Borrower's expense. Lender is trader no obligation [o purch:~s¢ m~y particular [ypc or amonu[ of coverage. TheretO)re, such coverage shall cover Lender, hut nfigh[ or mi~h['~ot protect Borrower, Borrower's equity in thc Property, or contents of the Property, against m~y ris[, h~ard or liability and might pr,~vidc ~rea~er or lesser coverage thau was previously eft~c[. Borrower acknowled¢es that the cos~ of the iusurance coverage so obtah~cd might signilicandy exceed lira c,~st insurance that Borrower could have obtained. Any amounts disbursed by l.cudcr under this Section 5 shall l)ecolnc additional deb[ of Borrower secured by riffs Security l~strume~[. These ~nlonll[s ~hatl bear interest at lite Note rate l'tom the dale disbursernenl and shall be payable, with such in[eresL upon ~odce from Louder to Borrower requesting payment. All insurance policies required by Lender ~d ~e~ewals o¢ such policic~ ~h;dl be subject [o Lender's right to disapprove such policies, shall include a standard mortgage clause, ami shall name l.cmler a~ mortgagee and/or as an addilional loss payee. Lender shall have it~e righ~ [o hold the policies aud renewal cerfifica[c~. 11' Louder requires, Borrower shall promptly 8ire Leuder all receipts of paid premiums and renewal notices. If Borro~vcr obtains arty lbrm of iusurauce coverage, not otherxvise required hy Lender, for damage to, or, destruction of, the Property, such p¢4icy shall include a st.ndard mortgage clause and shall name Lender as mortgagee and/or as m~ additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise ;~grec in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically t~asible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an oppt~rtm~ity to inspect such Property to ensure tile work has been completed to Lender's satisfaction, provided that such inspectiuu shall be undertaken prompdy. Lender may disburse proceeds tbr the repairs and resloration in a single payment or in a series of prt~grcss payments as the work is completed. Unless an agreemeut is made in writing or Applicable Law requires interest to bc l)itid t.m such insurance procecds, l,endcr shall m)~ be required to pay Borrower any interest or earniugs on such proceeds. Fccs fi.' public adjusters, or olher third parties, rclained by Borrower shall not be paid out of the insurance proceeds and shall bc thc sole obligation of Borrower. if ll~e restoration repair is not economically feasible or I.ender's security would be lessc~tcd, thc insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with thc excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided lbr in Section 2. If Bom}wet abandons the Property, Lender may file, negotiate and sctllc any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that thc i.surauce carrier has oflbrcd to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given, tn either event, or it' l_.cndet acquires the Property under Section 22 or otherwise, Bogower hereby assigus to l.endcr (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under thc Note or this Security Instrument, and (b)any othei of Borrower's rights (odmr than the right to m~y retired of unearned prcufituns paid by Borrower)uuder all insuraucc policies covering the Property, insofar as such rights are applicable to thc coverage or'thc Property. l.endcr may nsc thc insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not lhen 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 thc Property as Borrower's principal residence lkn- at least one year after Ihe date of occupancy, uuless Lender otherwise agrees in wriling, which conseul shall uot be uureasomtbly withheld, or unless extenuating circumstances exist which are beyond Bort-owcr's coutrol, 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 cm thc lh-opc~ty, Whether or not Borrower is rcsidi.g the Property, Borrower shall maintain the Property in order to prevent thc [hopcrty fi-om dcterit~rating or decreasing in value due to its conditiou. Unless it is deternfined l)nrsuant to Section 5 that rep~m' t~' restoration is not economically l~asihlc, Borrowe~ shall promplly repair ~he Property if damaged to avoid further deterior,titm or damage. If insurance or condemnation proceeds are paid iu connectiou with damage [o, or the taking of, the Property, Bt~t~xver shall be responsible fi")r repairing or l-CSlOril~g the Property only if Lender has released proceeds tut such pui])oscs, l..ct~clcr may disburse proceeds fi)r the repairs and restoration iu a single paymeut or in a series of [;rogress paymer~ts as thc w,~rk is completed. It' the insttrance or condemtmticm proceeds are uot sufficient to repair or restore the Property, Borrower is m)l ~c'licvcd of Borrower's ohligation fi)r the of such repair or restoration. WYOMINO -Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRI/~II,:NT Form 3051~/01 (pa~,e 5 n,t 8 Lender or its agent may make reasonable entries upon and inspectitms el' the Property. If it has reasouahle cause, Lender may inspect the interior of the improvements on the Property. Lender sludl g~vc Borrower notice at the dine et' or prior to sud~ an interior inspection speci~ing such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in defimlt if, during tl~e I_oan applicatiou process, Borrower or any persons or entities acting at the direction et~ Borrower or with Borrower's knowledge or consent gave materially fidse, misleading, or inaccurate intbnnation or statements to Lender (or tidied ~o provide Lender with material information)in connection with the Loan. Material representations include, but are not limited to, representations couccrning Borrower's occupancy of the Property as Borrooer's principal residence. 9. Protection of Lender's Interest in the Property and Rights [lmlcr this Security lnstrnmem. If (a) Borrower fails to perlBrm the covenants and agreements contained in this Security h'~s~rttment, (h) there is a legal proceeding thai ntight significantly affect Lender's interest in the Property and/or rights trader dtis Security Instrument (snob as a proceeding in bankrnptcy, probate, for conde~ation or [~rfeiture, t~)r enforcement oI' a lien which may altain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has ab:mdtmcd the Property, then Lender may do whatever is reasonable or appropriate to protect Lender's interest in tl~c Prol)crty and rights nnder this Security Instrument, including protecting and/or assessing the value of the Property, and seem-tug mM/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien xvhiub has priority over this Security lnsmuncm; (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 I)~(weeding. Securiug the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or bu:u d up dot)rs and windows, drain water fi'om pipes, eliminate building or other code violations or dangerous conditions, and b:tvc utilities turned on or off. Although l_ender may take actiou under this Section 9, Lender does not have to do so and is not nndcr any th~ly or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized undci this ~cctiou 9. Any ~ounts disbursed by Lender under this Section 9 shall become :Mdidonal debt of Borrower secured by this Seem'try Instrument. These amounts shall bear interest at the Note rate/~om thc thtte ~l' disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrumeut is on a leasehold, Borrower shall o)mply with all the provisions of dm lease. If Borrower acquires fee title to the Property, the leasehold and the l~e title shall not merge tmlcss Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance us ~t condition of ~naking thc Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, lbr any reason, the Mortgage insurance coverage reqnired by Lender ceases to be available t~om the mortgage insurer that previously provided sucl~ insurance and Borrower was required to make separately designated payments toward the premiums l'or Mortgage Insurance, Borrower shall pay Ihe premiums required to obtain coverage substantially equivalent to thc M~rigage Insurance previously iu cl'/~ct, at a cost. substantially equivalent to the cost to Bo~ower of the Mortgage Insttr;t~cc previously in effect, from an alteruate morlgage insurer selected by Lender. If substantially equivalent Mortgage lnsuraucc coverage is not available, Borrower shall coutinuc to pay to Lender the amount of the separately designated payments that wcrc duc when the insm'ancc coverage ceased to be in eREct. Lender will accept, use and retain these payments as a non-refm'Mul)lc loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstzmding the t~tct that thc Lomi is ultimately paid in fldl, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve, l.cndcr can no longer require loss reserve payments Mortgage Insurance coverage (in the amount and fbr the period that l.cudcr ~equircs) provided by an insm-er selected by l.ender again becomes available, is obtained, and Lender requires separately dcsigmttcd payments toward the premiums lbr Mortgage lusurance. If Leuder required Mortgage Insurance as a condition of mltkit~g die Loan and Borrower was required to make separately designated payments toward the premiums tYr Mortgage lnsmm~c~, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-reflmdablc h~ss reserve, until Lender's requircmcnl l'or Mortgage Insurance ends in accordance with any written agreemenl between Borrt~wcr mM Lender providing l~>r such termination or termination is required by Applicable Law. Nothing in this Section 10 ut't'ccts Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases Ibc Nt~te) for certain losses it may incur if Borrower does riel repay thc Loan as agreed. Borrower is not a party to the Mortgage Mortgage insurers evaluate their total risk on all such insurance iu flu-ut l-rom time to dine, ami may enter into agieetnenrs will~ other parties that share or modify their risk, or reduce losses. Thc, sc :tgrcerncnts are on tern'ts a~td conditions that arc salisfi~ctory to the mortgage insurer anti the other party (or parties)tu these agreements. These agreements may require the mortgage insurer to make payments using any source of fimds that the m,u'tgugc ittstum may have available (which may include funds obtained from Mortgage Insurance prenfiums). WYOM lNG--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRI IjXl lihNT Form 3051 ~/Ol As a result of these agreements, Lenddr, any pm'chaser of the Note, am~thcr insurer, any reinsurer, any other entity, or any affiliate of any of the tbregoing, may receive (directly or indirectly) am~mnts that derive from (or might he characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange fin- ~hm'ing or modilying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender lakc~ a share of the insureFs risk in exchaagc lbr a share of the prenfiums paid to the insurer, the arrangement is often termed "captive ~'cinsurance." Further: (a) Any such agreements will not affect the mnounts that Borrower bas agreed Io pay for Mortgage Insurance, or any other terms of the Loan. Sucl~ agreemeuts will not increase the amonnt Borrower will owe for Mortgage Insurauce, and they will not entitle Borrower to any refund. (b) Any such agreemenls will not affect the rights Borrower has - if auy - wilh respect 1o the Mortgage Insurance under the t/omeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and ohtain cancellation of the Mortgage lnsm'ance, to have the Mortgage Insurance terminaled automatically, and/or to receive a refund of any Mortgage Insurance ln'emimns that were nnearned at the 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 Miscellaneons Proceeds shall bc applied to restoration or repair of the Prol)erty, if the restoration or repair is economically feasible m~d Lender's security is m,t lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has bad an opporlmfity to inspect sticli Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken proml)tly. i,ender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as thc work is completed. Unless m~ agreement is made in writing or Applicable Law requires interest to be paid on such Miscdlaneous Proceeds, Lender shall not be required to pay Bo~ower any interest or caruings on such Miscellaneous Proceeds. If the restoration or repair is not econonfically l~asible or Lender's security wottld 19~ lcsseaed, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or nt~l them due, with the excess, if auy, paid to Borrower. Such Miscellaueous Proceeds shall be aoplied in the order provided lBr in Scctitm 2. In the event of a total t~ing, destruction, or loss in value of the Pt,l)crty, thc Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrmnent, whether or not then due, with thc excess, if auy, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market wdue of II~e Property immediately before the partial taking, destnmtion, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately belbre the partial t~ing, destructiou, or loss iu value, nnlcss Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the mnount of the Miscdlancous Proceeds multiplied by the following fraction: (a) the total amount of thc sums secured immedialely before the partial takiug, destruction, or loss in value divided by (b) the fair market value t}t' thc Prol)erty inm~cdiately before the parlial taking, destruction, or loss in value. Any balance shall be paid to Bo~ower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property i~ediately be/Bre the partial taking, destruction, or loss in value is less than the amount of thc sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and l.cader otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument wltcthcr or not th~ sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender ,) Borrower that the Opposing Pm-ty (as defiucd iu the next sentence) of/krs to m~e ~ award to settle a claim lBr damages, lt{)rrower fifils to respond to Lender within B0 days after the date the notice is given, Lender is authorized to collect and apply thc Miscdlaneous Proceeds tither to restoralion or repair of the Property or to the sums secured by this Security Instrument, whether or not titan due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of aciion in regard to Miscellaneous Proceeds. Bo~ower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in I.cnder's judgment, could result in for/~iture of the Property or other material impairment of Leudcc's interest m the Property or rights tntdc~' this Security lnstnlment. Borrower can cure such a default and, if acceleration has t)cc'tu'rt*d, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a riding that, in Lender's jt~dgment, precludes /brfeimrc of the Prot)~rty or other material impairrnent of Lender's interest m the Property or rights u~ldcr this Security lnstrnment. Thc proceeds of auy award or claim {br damages that are attributable to the impairment of Le,dcr's interest in thc Property arc hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration o~' ~cpair t)f thc Property shall bc applied in the order provided lbr in Section 2. ~,¥YOM'lNG--Single Family--Fannie Mae/Freddie Mnc UNIFORM INSTRUct, IR NT I?orm 3051 $r/t}l O;~ct,(~,e 70fl F'p~t~es) 0:90,--0L14 01"0 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modificatiou of a!-nortization of tile 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 ally Successors ill Interest of Borrower. Lender shall nol be required to commence proceedings against any Successor in Interest of Bo,-lower or to refuse to extend time tkn- payment or otherwise modify amortization of the sums secnred by this Security lustrtmtcnt by reason of auy de,nand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by I~cutler in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persous, entities or Successors in Interest of Borrower or iu amounts less than the mnount then due, shall not be a waiver of dr brecludc thc exercise of an7 right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigus Bound. Boi'rower covenants and agrees tltat Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Insn-ument but does not execute the Note (a "co-signer"): (a) is co-signing this Security l,~strumeut only to mortgage, grant aud convey the co-signer's interest in the Property under the terms of this Security Instzumcnt; (b) is not personally obligated to pay tile sums secured by this Security h~strument; and (c) agrees that Lender and any other Borrower can agree to extcud, modify, R~rbear or make any accommodations with regard to thc terms of this Security Instrutuent or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, aud is approved by Lender, shall obtztin all of Borrower's rights and benefits under Ihis Security lnstntment. Borrower shall not be released from Borrower's obligations and liability under this Security hlstnm~ent unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower tees for services pe,-fi:~ reed itl counection with Borrower's default, for puqmse of protecting Lender's interest in the Property and rights under ti,is Security Instrument, inclndiug, but not limiled to, attorneys' fees, property inspection and valuation fees. In regard to auy other tees, the absence of express authority in this Security Instrument to charge a specific tee to Borrower shall not be coustrued as a prohibition on tile charging of such Ice. Lender may not charge fees that are expressly prohibited by this Security lnstrUmCl~t or by Applicable I. aw. If the Loan is subject to a law which sets maximum loan charges, aud that law is finally intcipreted so lhat cite lute, est or other loan charges collected or to be collected in counection with the Loan cxcccd the permitted limits, then: (a) any such loau charge shall be reduced by the amount necessary to reduce the charge to thc l)crmitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to flol,'ower, l.ender may choose to make this relhnd by reducing the principal owed under the Note or by making a direct pay,ucnt to Borrower. Ifa retired reduces principal, the reduction will be treated as a partial prepaymeut without any prepaymcm charge (whether or not a prepayment charge is provided /hr under the Note). Borrower's acceptance of any such refund lllildc by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such ovcrttharge. 15. Notices. All notices given by Borrower or Lender in connectiou with this Security Instrunlent must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address il' scut I)y other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires olherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to I.ender. Borrower shall prolnptly notify l.eudcr of Borrower's change of address. If Lender specifies a procedure lbr 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. Auy notice in conuection with this Security Instrument shall ,lot be deemed to have been given to Lcuder nntil aclually received by Lender. It' any nolice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisl-'y tile 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 the Property is located. All rights and ol)ligatioas contained in this Security lnstruntenl are subject to any requirements and limitations of Applicable Law. Applicable l.aw might explicitly or implicitly allow the l)arties to agree by contract or it might be silent, hut such silence shall not be construed as a prohibition against agreement by conlract. In the event that any provision or clause of this Security Instrument or ~hc Note cortflicts with Applicable Law, such conflict shall not affect otber provisions of this Security Instrument or tile N()lt: which cml be given effect without tile coullictiug provision. As used in this Security Instnlment; (a) words of tile masculine gendt:r shall mean and include correspondiug neuter winds or words of the feminine gender; (b) words iix the singular shall mean ;md iuchide thc plural and vice versa; and (c) tile xvord "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrmver shall be given one copy of the Noicz~tl ol this Security Instrument. WYOMING--Single FanlJly--FannJe Mae/Freddie Mac UNIFORM INSTRIJMI,iNT Form 305'1 Dt)I O~rtge 8 o/'l'[pcL~,e.s') O9O2034 ' 0121 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Prol~eny" means any legal or beneficial interest in the Property, including, but m,t limited to, those beneficial interests traustkrrcd iu a bond for deed, contract tbr deed, instalhnent sales contract or escrow agrccmcu[, thc intent of which is Ih~ translkr of tide by Borrower at a ~turc date to a purchaser. If all or any part of the Property or rely Interest in the Property is sold or translkrred (or if Borrower is not a natural person ~d a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, l.ende~ may require immediate payment in full of all sums secured by this Security Instrument. llowever, 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 ~cccleration. The notice shall provide a period of not less th~ 30 days from the date the notice is given in accord~ce with gcctiou 15 within which Borrower mus~ pay all sums secured by this Security lnsmunent. If Borrower fails to pay these sums prior to the expiration of this period, l~cndcr may invoke ~y remedies pemfilted by this Security lnstnm~ent without hu'ther notice t)f demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Bon-ower shall have thc right to bare enforcement of this Security Instrulnent discontinued at any time l)rior to the earliest of: (a) live days bctbrc sale of the Property pursuant to any power of sale contained in this Security Instrtm~c,t; (b) such other period as Apl)licable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a jt~dgmeul cnk)rcing this Security lnstrtm~cut. Those conditions are that Borrower: (a) pays Lender all stu~ which then would bc thi¢ under this Secnrity h~strument and tim Note as if no acceleration had occurred; (b) cures any det:ault of any other covcnams or agreements; (c) pays all expenses iucurrcd enforcing this Security Instrument, including, but not limited to, reasoual)lc attorneys' tbes, property inspection and valuafiou fees, m~d other fees incurred for the purpose of protecting Lender's interest iu the Property and righis trader this Security Instrument; and (d) takes such aclion as Lender may reasonably require to asstn-c that LendcFs interest in tim Property and rights under this Security Instrument, and Borrower's obligation to pay the stuns secured by this Security lnstrumcm, shall coutimm' unchanged. Lender may require that Borrower pay such reinstatement smn~ and cxpeuscs in one or more of the k)llowing forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bauk check, trcasureFs check or cashier's check, provided ~y such check is drawn upon an institntiou whose deposits are insured by a tkdcral agency, instrumeu~ality or cmity; or (d) Electronic Funds Trans~kr. Upon reinstatement by Borrower, ibis Security h~slrtnnent and obligations secured hereby shall remain fully eft~ctive as if no acceleration had occurred. However, this right to reinstate shall not apply in tl~c case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Nntice of Grievance. Thc 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 migh~ resuh in a change iu thc entity (known as the "Loan Servicer") that collects Periodic Payments dm: uudcr thc Note mid tiffs Security lnsmm~ent and performs other mortgage loan servicing obligations under the Note, this ~ccm'ity Instrument, and Applicable l_aw. There also lnight be one or more changes of the Lo;m Servicer unrelated to a sale ~' d~c Note. If fl~ere is a change of thc l.oan Servicer, Borrower will be given written notice of the change which will state thc name and address of the new Loau Servicer, dm address to which payments should be made and any other intbrmation RESPA requires in connectiou with a notice of transtkr of se~icing. If the Note is sold ~d thereatker the Loan is smwiced by a [.tr, m Servicer other thau the purchaser of Ibc Note, ~l~e mortgage 1o~ servicing obligations to Bon'ower will remain with thc l.oau Servicer or be transfcned to a successor Loau Servicer and are not assmned by the Note purchaser unless othe~ise provided by the Note purchaser. Neither Borrower nor Lender may co~ence, join, or be joined to any jt~dicial action (as either an individual litigant or the melnber of a class) that arises from the other party's actions pursuant t~ this ~ecurity lnstmmem or that alleges that ~hc other party has breached ~y provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or l.endcr has notified the other party (with such notice given in coml)liance with thc rcquircmeuts of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of st}ch uolice to take corrective action, ff Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed puq)oses of this paragraph. ~e notice of acceleration and opportunity t() cm-c given to Borrower pursuant to Seciii)n 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall bc deemed to satisfy the nolice and opportnnity to take corrective action provisions of this Section 20. 2 l. tlazardous Substances. As used in this Section 21: (a) "Ilawm-dtms Substm~ces".are those substances dc-lqncd as toxic or hazardous substances, pollutants, or wastes by Environmental Law a~td thc following substances: gasoline, kerosene, olher flammable or toxic petroleum products, toxic pesticides and herbicides, w~tatile solvents, malerials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" mc;ms l'cdcral laws and laws of thc jm Prol)erty is located that relate to health, salary or environlnental protec[it~; (c) "Euvironmental Cleanup" includes any response actiou, remedial action, or removal action, as defined iu Environmental I.,w; and (d) an "Environmental Ct)nditiot~" [llcans condition that can cause, contribute to, or otherwise trigger an Environn~cmal Clcauup, Borrower Initials Borrower shall not cause or permit tile presence, use, disposal, stor;tgt:, or rtzlcase of any lIazardons E;ubstanccs, or to release any Elazardous Snbstances, on or in the Property. Borrower shall uot do, nor allow anyone else lo do, anylhing af[ecting the Property (a) that is in violation of any Environmental Law, (b) which creates an ~nvirorunental Condition, or (c) which, tine to lhe presence, use, or releae oE a Hazardous ~ubstance, ~r~alc; a coudition tha~ adversely af~kcts d~e value of thc Property. The preceding [wo sentences shall no~ apply to the presence, usc, or storage on the Property of small qtmntitics H~ardons Substances that are generally recognized to be appropriate to normal residential nscs aud to maimeuance of the Property (including, but not lix~ted to, h~ai-dous substances in cdn~umcr prt)ducts). Borrower shall promptly give Lender written notice of (a) m~y inveslig~ti(m, claim, demand, lawsuit or other action by any govemlnental or regulato~ agency or private party involving the Property and any Hazardous Substance or Environmental l.aw of which Borrower has actual ~owledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of ~y Hazardous Substtmce, and (c) m~y condition caused by the presence, use or rt:lcasc of a flazardous Substance which adversely affects the value of the Prol)crty. It' Borrower learns, or is notified by any governmental or regulatot~ authority, or m~y private party, lhat any rcmov;d or other remediation of any Ilazardous aflkcting the Property is necessary, Borrower shall promptly take ;dl necessary remedial aclions iu accordance wilh Enviromnental Law. Nothing herein shall create any obligation on Lender l't~l-all Euvironmental Cleanup. NON-UNIFORM COVENANTS. Borrower m~d Lender ~rther covenant and agree as tbllows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleraliun under 8eclion 18 tmless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) thc action required to ctn'e the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be ctn-ed; and (d) lind failure to cure the default on or before the date specified in the notice may result in acceleration of the stuns secured by this Security Instrnment and sale of the h'operty. The notice shall fnrlbcr inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existt, nce of a default or any other delouse of Borrnwer to acceleration and sale. If the default is not cured on or before the dale specified in the nolice, l,ender at its option may require immediate payment in hill of all sums secured by this Security lnstrnnmnt without fm-ther demand and may invoke the power of sale and any other remedies permitted by Applical~le l,aw. Lender shall be entitled to trollect all expenses incurred in pursuing the remedies provided in this Section 22, inclmling, but nnt limiled to, reasonable attorneys' fees and costs of title evidence. H' Lender invokes the power of sale, Lender shall give notice of intent to h~reclose to Borrower and to the person ia possession of the ~operty, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall lmblish thc notit:e of sale, and the Property shall be sohl in the manner prescribed by Applicable Law. Lender or its designee may pm'chase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of lhe sale, iucluding, but not limited lo, reasonable attorneys' fees; (b) to all sums secured by this Secm-ity Instrnment; ;md (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrtmk:nt, Lender shall release lhis Security Inslrtm~cnt. Borrower shall pay m~y recordation costs. Lender may charge Borrower a fcc for releasing this Security lustrumcut, btll only the fee is paid to a third party for services rendered and the charging of the fcc is permitted under Applicable l~aw. 24. Waivers. Borrower releases and waives all rights under and by vii-mc of die homestead exemption laws of Wyoming. V~J¥ON'IING--Single Family--Fannie Mae/Fredtlie Mac UNIFORM INSTRI.;MENT Form 3051 ~1 (pr~ge 10 of ~l~t~age.r) ouozoa4 0 BY SIGN1NG BELOW, Borrower accepts and agrees to the terms and covcum~ts contained in this Security lnstrumem m any Rider ~xecuted by Borrower axed recorded with it. Witnesses: ·(Seal) -[~OrfOWef · ~tg%~.-~.7~'N W. JONES . ~/ (Seal) WIIA_,IANI C J/-~NF~ [Space Below This Line For Acl-mo;~ Icdgmcut] State of WYOlVlING Connty of_ (Seal) My Commission Expires: /O/ot~'/'gL)Off'''~ The foregoing instrument was ackmowledged before me bytJ~ENJAM~N W. JONES, A SINGi,E MAN . th~'s"-J~Tlt da) of AIJGUST, 2004 Witness my hand m~d official seal. '~ f=j'"/b ' Notary Public _ /!¢~___ (Print or type name) WYOMING--Single Farnily--ga,mie Mae/Freddie Mac UNIFORhl INSTP, Ut~ lENT Form 3051 1/01 (page 1 l ~:~f I l paged :5::..:!51,:, '.9:11.1o:. %:-;;/;?:,;. STATE OF WASHINGTON. COUNTY OF /~)1 ~ tc(~-~ Notary Public: My commission expires The £oregoing instrument was acknowledged bclbre me this / ~ ~ay o17 90otl , by WILLIAM C. JONES and L[NDA S. JONES the sig~&~ ~fthe within instrument, who duly acknowledged to me that he/shc/.[l)y~/executed th~tmc. WITNESS MY HAND A~ OFFICIAL SEAL. { ~r.',~¥ ~'. o ~. . ~ ~ USLIG ~ 09020 14 1.oan Number 60350509 PLANNED UNIT DEVELOPSIENT RIDER THIS PLANNED UNiT DEVELOPMENT RIDER is made this 10TII day of 'AUGUST, 2004, aud ts incorporated into and shall be deemed to amend and sflpplentc~t thc Mortgage; Deed of Trust, or Security Deed (the "Security Instrument") of the same date, given by the undersigned (the "Borrower") to secttre Borrower's Note to FIRST NATIONAL BANK-WEST (the "l.cndcr") of the same date and covering the Property described in the Security Instrument and located at: 424 SOLITUDE DRIVE~ TIIAYNE~ WYOMING 83127 [Property Address] The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as dcscrib~.~d in COVENANTS~ CONDITIONS, AND RESTRICTIONS OF RECORI) (the "Declaration"). The Property is a part of a planned nnit dcvclol)ment known as STAR VALLEY RANCItES [Name of Planned Unit Devclcq,mcml (the "PUD"). The Property also includes Borrower's interest in thc homeowners association or equivalent entity owning or managing the common areas and facilities t~f tl~c PUD (the "Owners Association") aud the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and ago'cements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of 8orr~)wer's obtigations under tl~e PUD's Constituent Documents. The "Constituent Documents" ~trc thc: (i) Declaration; (ii)articles of incorporation, trust instrument or any equivalent doctn!~cnt which creates the Owners Association; and (iii) any by-laws or other rules or regulations of thc Owners Association. Borrower shall proxnptly pay, when due, all dues and assessments impt)scd pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Ass(}ciation lnaintains, with a generally accepted insurance carrier, a "master" or "blanket" l,c~licy insuring tt~e Property which is satisfactory to Lender and which provides insurance coverage: in the mnounts (including deductible levels), for the periods, and against loss by fire, haTm'ds included within the term "extended coverage," and any other hazards, including, but not limited [t), earthquakes and floods, for which ~nder requires insurance, then: (i) kender waives thc prc~visiou in Section 3 fi)r the Periodic Payment to Lender of the yearly premium installments ka' property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied lo the extent that the required coverage i~ prt)vidcd by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loau. Borrower shall give Lender prompt notice of any lapse in rCcluircd property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance pl'occcds in lieu of restoration or repair following a loss to the Property, or to common are;ts ;md f;~cilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall bc l);~id t~ Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, x~l~c.~hc~r or not then due, with the excess, if any, paid to Borrower. MULTISTATE PUD RIDER--Single Family--Famfie Mae/Freddie Mac [)Nil.'( )1451 IN~TRtIMENT I Fm'm 3~O 1/01 O>age I q/'2 pages) C. Public Liability Insurance. Borrower shall take such 'actions as may be reasonable to insure that the Owners Association maiutains a public liabiliiy iusnrance policy acceptable in form, amount, and extent of coverage to Lender. D. Condenmafion. Tile proceeds of any award or claim for damages, direct or conseqnential, payable to Borrower in connection with any condemnatiou or other taking.of all or any part of Property or the common areas and facilities of tile PUD, or for auy conveyauce in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to tile sums secured by tile Security Instrument as provided iu Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and wilh Lender's prior written consent, either partition or subdivide lite Property or consent to: (i) abandonment or termination of the PUD, except for abmtdtmmcnl 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 lo auy provision of th~ "Constituent Docmnents" if tile provision is for the express benefit of Lcnclcr; (iii) termiuation of professional management and assmnption of self-management of thc Owners Association; or (iv) any action which would have the effect of rendering the public liabilily iusurance coverage maintained by tile Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under dtis paragraph F shall become additional debt of Borrower secured by tile Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from Ibc date of disbursement at tile Note rate and shall be payable, with interest, npon notice from Lender to Borrower requesting paymeut. BY Rider. ..... "__ (Seal) LIAM C J 1) NES/ - --Bo~ rower SIGNING BELOW, Borrower accepts and agrees to thc terms and provisions contained in this PUD 1VIIJL'FISTATE PUD RIDER--$iagle F:tnlily--Famfie Mae/Freddie Mac UN IFf )t451 INSTRUMENT Form 3150 1/01 (page 2 ~ff'2 tinges)