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HomeMy WebLinkAbout902106902t06 F,~ _IVED ..i I'.,COI.. ~q CvUI.~Th CLERK [Space Above This Line For Recording Data[ MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined b4low and odier words are defined in Sections 3, 11, 13, l 8, 20 and 21. Certain rules regarding the usage of words used in this doer,mere are also provided in Section 16. (A) "Security Instrument" means this document, which is dated August 9th 2004, together with all Riders to this document. (B) "Borrower" is The James F. Odle and Jessie L. Odle Living Trust dated October 20, 2003 James F. Odle aud Jessie L. Odle~ trustees BmTower is the mortgagor under this Security Instrument. (C) "Lender" is Mid America Mortgage Services, Inc. . Lender is a organized and existing under the laws of the State or' Missouri Lender's address is 200 East Walnut Street Columbia, MO 65203 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated Augnst 9th ,2004 The Note states that Borrower owes Lender Eighty One Thousand Four Hundred and 00/100 Dollars (U.S. $81,400.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in fi, ll not later than . SePtember 1_, 2034 (E) "Property" means the property that is described below under tile heading "Transl~r of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepa3anent charges and late charges due under ibc Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] CondominiUm Rider [] Second Hmne Rider [] Balloon Rider [] Planned Unit Developmeut Rider [] Other(s) [specil~,] [] 1-4 Family Rider [] Biweekly Payment Rider (H) "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. (1) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and ofl~er charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar orgauization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated bycheck, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit ail account. Such term includes, but is not li~nited to, point-of~sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transtbrs, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paidbyanytbird party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance iu lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, tile Loan. (N) "Periodic Pay~nent" means the regularly scheduled amount due fbi' (i) principal and interest tinder the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "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 a~nended fi.om time to time, or any additional or saccessor 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 quali~ as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrower" means anyparty that has taken title to the Property, whether or not that party bas assumed Borrower's obligations under the Note and/or this Security Instrument. WYOMING-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 9789~CV (5/04) I ~041295 Form 3051 1101 (page 1 of 7 pages) G OT()(000Mi. tgd TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modificalions of the Note; and (ii) the performance of Borrower's covenants and agreements under this Securityh/strumeat and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Le,ldcr and Lender's successors and assigns, with power of sale, the following described propertylocated in the County of [Type of Recording Jurisdiction] Lincoln : [Name of Recording Jurisdiction] Star Valley Ranch Lot 76 Plat 12 as platted and recorded in tile Official records of Lincoln Connty Wyoming Thls Deed of Trust is made in adcordance with the terms and provisions of the trust agreement, is made pursuant to the powers conferred by said agreement, and said trust agreement remains in full force and effect at thJ. s time and that the same has not been amended or revoked. which currently has the address of 39 Pineview Circle [Street] Thayne , Wyoming 83127 ("Property Address"): [City] [Zip Code] TOGETHER WITH all the improvements 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 Secority Instrmnent. All of the foregoing is referred to in this Security hlstrument as the "Property." 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 tbe Property against all clailns and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants tbr national use and non-nnifurm covenmlts wifl~ limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prep'aymeut Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by tile Nme and any prepayment charges and late charges due under tile Note. Borrower shall also pay funds for Escrow Items pm'suant to Section 3. Payments clue uuder tile Note and fills Security Instrument shall be made in U.S. currency. However, il' any check or other instrument received by Lender as pa)qnent under tile 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 tbrms, 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 deposils are insnred by a tbderal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insnfi~cient to bring tile Loan current, l.ender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights heretlnder or p,'ejudice to its rights to refuse such payment or partial payments in the future, b[lt Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to b~5ng tile Loan cun'ent. If Borrower does not do so within a reasonable period of time, Lender shall either apply such fimds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or itl tile future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perfurming 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 dne trader the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such pay,nents shall be applied to each Periodic Pay,nent in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any amounts due under this Security Instrument, and then to reduce the p,'mcipal balance of the Note. If Lender receives a payment fi'om Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, file 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 fi'om Borrower to the repayment of the Pmiodic Payments if, and to the extent that, each payment can be paid in full. To tile extent that any excess exists after the payment is applied to the fidl payment of one or more Periodic Payments, such excess may be applied to any late charges dt~e. Vohmtary prepayments shall be applied first to any prepayment charges and then as described ill the Note. YVYOMING--Single Family--Faimie Mae/Freddie Mac UNIFORM INSTRIlMENT 9789.CV (5/04) 1-041295 Form 3051 1/01 (page 2 o.['T pagea9 ~ I ~x~ GOTO(000iifd9d) Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3, Funds for Escrow Items. Borrower shall pay to Lender on thc 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 Instrt, ment as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the pay~nent of Mortgage Insurance prenfiums in accordance with the provisions ofSectiou 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices ofamot,nts to be paid under this Sectiou. Borrower shall pay Lender the Fuuds 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 Funds for any or all Escrow Items at any time. Any such waiver may onlybe in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the mnounts due fox' any Escrow Items for which payment of Funds has been waived by Lender and, it' Lender requires, shall fin'nish to Leuder receipts evidencing such pa}anent 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 Secuhty Instrument, 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 Borrower ihils to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 1 5 and, upou such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pernfit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximmn amotnlt a lender can require under RESPA. Leuder 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 Holne Loan Bank. [ender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Leudcr to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid ou 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 RI~SPA, Lender shall account to Borrower fur tile excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender tile amount necessary to rnake up the shortage in accordance with RESPA, but in no more than 12 monthly pa)qnents. II'there is a deficiency of Fnnds 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 m no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions atlributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the cxtent 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 paylnent of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faid~ by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enlbrcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures fi'om the hokter of the lien an agreement satisfactory io Lender subordinating the lien to this Security Instrnment. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy Ire lien or take one or more of the actions set lbrth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep fl~e improvements now existing or hereafter erected on tile Property insured against loss by fire, hazards iucluded within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amotmts (including deductible levels) and for theperiods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loanl The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasouably. Lender may require Borrower to pay, in connection with this Loau, either: (a) a one-time charge fi)r llood zone dete.rmination, certification and tracking services; or (b) a one-time charge tbr flood zone detem~ination and certification serwces and subsequent charges each time remappings or similar changes occur which reasonably nfight afl~ct such determination or certification. Borrower shall also be responsible tbr the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting flora an objectioo by Borrower. ' If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of' coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's eqmty m the Property, or the contents of tile Property, against ally risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of thc insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any an~ouuts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These a~notmts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/o~- as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal ~mtices. If Borrower obtains any lbrm ofinsurmme coverage, not otherwise required by Lender, for damage to, or destruction ot~ the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurar, ce can'ier and Lender. Lender maymake proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree 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 feasible and Lender's security is not lessened. During such repair and restoration period, Lender shallhave the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisi~action, provided that such inspection shall be undertaken WYOMING--Single Family--Famfie Mae/Freddie Mac UNIFORM INSTRUMENT 9789.CV (5/04) 1-041295 Form 3051 1/01 (page 3 of Tpages) :. ,~,~-.'~qr, l: : ;' GOTO(OOOafil9d) promptly. Lender may disburse proceeds for the repairs and restoration itl a single payment or in a series of progress payments as the work is completed. Unless all 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 st,ch proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not eco~lomically feasible or Lender's security would be lessened, the insm'ance proceeds shall be applied to tile sums secured by this Security hlstrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided fur in Sectiou 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that tile insurance cmxier has oflbred to settle a claim, then Lender may negotiate and settle tile 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 fights to any insurance proceeds in an amount not to exceed tile amounts unpaid under tile Note or this Security lnstrnment, and (b) any other of Borrower's fights (other than the right to any refund ofuueamed premiums paid by Borrower) under all insurance policies covering the Property, insothr 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 thc. 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 extenuatiug circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; luspections. 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 from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Bonowcr shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, tile Property, Borrower shall be responsible for repairing or restoring the Property only if Leuder 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 insu, rance or condemnation proceeds are not sufficieat to repair or restore the Property, Borrower is not relieved of Borrower s obligafion lbr tile completion of such repair or restoration. Lender or its ageut may make reasonable entries upon and iuspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at tile time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be itl defimlt if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Bon'ower's lmowledge or consent gave materially false, ~nisleading, or inaccurate information or statements to Leuder (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not linfited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's luterest in the Property and Rights Under tills Security Instrument. If (a) Borrower fails to perfunn 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 uuder this Security lnsmm~ent (such as a proceeding in bankruptcy, probate, for condemnation or forfeitm'e, for enforcement ora lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower }las abandoned tile Property, theu Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repaMng the Property. Lender's actions can include, but are not limited to: (a) paying auy sums 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 fights 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 from pipes, eliminate building or other code violations or dangerous conditious, 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 ally 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 hy this Security Instrument. These amounts shall bear interest at the Note rate flora thc date ofdisbursemeut and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security h~strument is on a leasehold, Borrower shall comply with all tile provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to tile ~nerger ill writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of tnaking the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance m effect. It; for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insarer that previously provided such insurance and Borrower was required to make separately designated paymen ts toward the premimns tbr Mortgage Insurance, Borrower shall pay the pre~niums required to obtain coverage substantially equivalent to the Mortgage lnsurauce previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, l¥om all alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to~ay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in enect. 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 l~act 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 amouat and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage hlsurance. 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 Insuraace itl effect, or to provide a non-refimdable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for suc.h ternfination or until tmTnination is required by Applicable Law. Nothing m this Section 10 affects Borrower's obligation to pay interest at the rate provided in tile Note. Mortgage Insurance reimburses 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 not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in lbrce fi'om time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the N otc, another insurer, any reiusurer, any other entity, or any affiliate of any of the foregoing, ~nay receive (directly or indirectly) amounts that derive fi'om (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for shariug or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the WYOMING--Single Family--Fmmie Mae/Freddie Mac UNIFOR3'I INSTRUMENT 9789.CV (5/04) 1-041295 Form3051 1/01 (page 4 of Tpages) insurer's risk in exchange for a share of the premiums paid to the insurer, tile arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay fin' Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refnnd. (b) Any such agreements will not affect the rights Borrower has - if any- with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or arty ot her law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance preminms ,ha! were unearned 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 Propertyis damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to respect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken prmnptly. Lender maypay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agree~nent is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided tbr in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security h~strument, 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 lhe fair market value of the Propertyimmediately before the partial taking, destruction, or loss in wdue is equal to or greater than the amount of the sums secured by this Security his,tureen, immediately before the partial taking, destruction, tlr loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amonnt of the Miscellaneous Proceeds multiplied by the following fraction:.(a) the total amount of the sums secured immediately betbre the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before 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 vahte of the Property in which the fail' market value of the Property i~nmediately before the partial taking, destruction, or loss itl value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, nn less Borrower and Lender otherwise ag?ce m writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument whether or not the sums are 1ben due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a clailn for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Properly or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party 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 impaim~ent of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Secm-ity Instrument. The proceeds of any award or claim for damages that are attributable to the nnpamnent 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 o,' repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for pa~nent 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 m Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or 1o refitse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason ofanydemand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising anyright or remedy including, without limitation, Lender's acceptance of pa~anents fi'om third persons, entities or Successors in Interest of Borrower or iii amounts less than the amount fl~en due, shall not be a waiver of or preclude tile exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants aud agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrmnent 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 in the Property under the terrns of this Security Instrument; (b) is not personally obligated to pay the stuns secured by this Security Instrument; and (c) agrees that Lender and any.other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co~ signer's consent. Subject to fl~e provisions of Section 18, any Successor in Interest of Borrower who assumes Bon-ower's obligations under tiffs Security Instrument in writing, and is approved by Lender, s hall obtain all of Borrower's rights and benefits nnder this Security Instrument. Borrower shall not be released from Borrower's t;bligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security lnstrnment shall bind (exCept as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees lbr services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation lees. 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 cbarging of such fee. Lender may not charge fees that are expressly p,'ohibited by this Security lnsmmrent 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 litnits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected fi'om Borrower which exceeded permitted limits will be relhnded to Bon'ower. [xmder may choose to make flits refund by reducing the principal owed under the Note or by making a direct pa~anent to Borrower. Ifa retired reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepa~nent charge is provided for under the Note). Borrower's acceptance of any such retired made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Securitylnstrmncnt shall be deemed to have been given to Bonower when mailed by first class mail or when actually delivered to Borrower's norce address if sent by ofl~er means. Notice to any WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORIVI INSTRUMENT 9789.CV (5/04) 1-041295 Form 3051 1/01 (page 5 of?pages) 090210 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. Anynotice in connection with this Secmity 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 satis¢ thc corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Constructina. This Security Instrmnent shall be governed by fi~deral law and the law of the jnrisdiction in which the Property is located. All rights and obligations contained in this Security Instrmnent are subject to any requirements and limitations of Applicable kaw. Applicable Law nfight explicitly or implicitly allow the parties to agree by contract or it might be silent, btil such silence shall not be construed as a prohibition against agreement by contract. In the event that anyprovision 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 In~'ument: (a) words of the masculine gender shall mean and include con'esponding 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. 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 in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is lhe transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require im~nediate payment in full of all sums secured by this Security histrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance \vith Section 1 $ within which Borrower must pay all sums secured by this Security Instrument. If Borrower I~ails to pay these sums prior Io the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without flit,her notice or demand oil Borrower. 19. Borrower's Right to Reinstate After Acceleration. 11' Borrower ineets certain couditions, Borrower shall have the right to have enforcement of this Security hrstrument discontinued at any time prior to the earliest off (a) five days before sale of the Property pursuant to any power of sale contained in this .Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sttms which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security lnstrunlent, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred fbi' the puipose of protecting Lender's interest in the Property and rights under this Secm'ity Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and fights under this Security lnst,'ument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following tbrms, as selected by Lender: (a) cash; (b) inoney order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institutiou whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transtar. Upon reinstatement by Borrower, this Security histrument and obligations seem'ed hereby shall remaiu fi~lly efli~ctive as if'no acceleration had occurred. However, this right to reinstate shall not apply iii 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 withotd 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 Nole aud this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Secnrity Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer urn'elated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given 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 m formation RESPA requires iii com~ecfion wifl~ a notice of transfer of servicing. If the Note is sold and thereafter tile Loaf, is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note pm'chaser nnless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either all individual litigant or the member ora class) that arises fi'om the other party's actions pursuant to this Security Instrument or that alleges flint the other party has breached any provision of, or any duty owed by reason o~; this Security Instrument, ua,il such Borrower or Lender has notified the other party (with such notice given in compliance with the requirmnents of Section 15) of such alleged breach and aflbrded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Ilazardous Substances. As used in this Section 21: (a) "ttazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Envi ronmental Law and the followiag snbstances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides,'volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means t~deral laws and laws of the jurisdiction where the Property is located that relate to health, safely or environmental protection; (c) "Enviromnental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) au "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleauup. 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. Bor,'ower 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 all 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 Prop, erty (including, but not limited to, hazardous substaaces in consumer products). Borrower shah promptly give Lender written notice of(a) ally iii vestigation, claitn, demand, lawsuit or other action by any governmental or regulatory agency or private party involving tile Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) ally Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Snbstance, and (c) any condition caused by the presence, use or release ora Hazardous Substance which adversely affects the value of the Property. If Borrower learns, mis notified by any governmental or regulatory authority, or any private party, that auy removal or other rcmediation of any WYOMING--Single Faafily--Famtie Mae/Freddie Mac UNIFORM INSTRUMENT 9789.CV (5/04) 1~041295 Form3051 1/01 (page 6 of Ypage~) GOT()(000alklgd) Hazardous Substance affecting the Property is necessary, Borrower shall pro~nptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create auy obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Bon'ower and Lender fi,'thcr covenant and agree as tbllows: 22. Acceleration; Remedies. Lender shall give notice to llorrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleratiou under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) tile action reqnired to cure the default; (c) a date, not less than 30 days from the date the notice is giveu to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The uotice shall further inform Borrower of the right to reinstate alter acceleration aud the right to bring a com't action to assert the non-existence ora default or any other defense of Borrower to acceleratiou and sale. lf~the default is uot cured on or before the date specified in the notice, Lender at its optiou may require immediate payment in full of all sums secured by this Security Instrument without further demand aud may iuvoke the power of sale aud auy other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses iucurred in pursuing the remedies provided in this Section 22, including, but not limited lo, reasonable attorneys' lees and costs of title evidence. If Lender invokes thepower of sale, Lender shall give notice ofiutent to foreclose to Borrower and to the person in possession of the Property, if different, in accordauce with Applicable Law. Lender shall give notice of the sale to Borrmve,- in the manner provided in Section 15. Leuder shall publish the notice of sale, and the Property shall be sold in the re:tuner prescribed by Applicable Law. Leuder or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied iu the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorueys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persous legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Secmity Instrument. Bon'ower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is pernfitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY S1GNING BELOW, Borrower accepts and agrees to tile terms and covenants contained in dfis Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: t~Twcr James F. Odle, Trustee Bo~e,-- ,}~e L. Odle, Trustee - BOl¥OWer (Seal) Bonower ___ (Seal) [Space Below This Line For Acknowledgment] STATE OF Wyoming , ~ / P? F_~] & County ss: On this '-9tIT' day of August , 2004 , before me. the undersigned, a Notary Public itl and for said State, personally appeared James F. Odle and Jessie L. Odle, as husbaud and wile (known to me) (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) snbscribed to the foregoing instrument and acknowledged that they ..... executed the same. are WITNESS my hand and official seal. (Reserved for official seal) Name (typed or printed) My Commission expires: WYOMING--Single Fanfily--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 9789.CV (5/04) 1-041295 Form3051 l/Ol {page 7 of Tpage0 , i ' ' J GoTO(000a/kl9d) 090 1.0 ADJUSTABLE RATE RIDER THIS ADJUSTABLE RATE RIDER is made this 9th day of August , 2004 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's .... Mid AmeriCa Moth a e Adjustable Rate Note (the Note ) to g g Services, Inc. (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 39 Pineview Circle Thayne, WY 83127 [Property Address] NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND SCHEDULED PAYMENT CHANG ES The Note provides for an initial interest rate of 4.750 %. The Note provides for changes in the interest rate and the payments, as follows: 3. Payments (A) Scheduled Pay~nents All references in the Security Instrument to "monthly payme~ts" are changed to "scheduled payments". 1 will pay incipal and interest by making payments when scheduled: (mark one): I will make my scheduled payments on the first day of each month beginning on October 1, 2004 [] I will make my scheduled payments as follows: [] In addition to the payments described above, I will pay a "balloon payment" of $ on . The Note Holder will deliver or mail to me notice prior to maturity that the balloon payment is due. This notice will state the balloou payment amount and the date that it is due. MULTISTATE ADJUSTABLE RATE RIDER 8456.CV (5/04) 1-041295 Page I of 4 GOTO(000a fdba) (B) Maturity Date and Place of Payments I will make these payments as scheduled until I have paid all of file principal and interest and any other charges described in the Note. My scheduled payments will be applied to interest before phncipal. If, on ~ September 1, 2034 ., 1 still owe amounts under this Note, I wild pay those amounts in full on that date, which is called the "maturity date". I will make my scheduled payments at200 East Wahmt Street Cohmibia, MO 65203 or at a different place if requi,'ed by the Note Holder. (C) Amount of My Initial Scheduled Payments Each of my ilfitial scheduled payments will be in the amount of U.S. $424.62 This amount may change. (D) Scheduled Payment Changes Changes in my scheduled payment will reflect changes in the unpaid principal of my loan and in the interest rate that I must pay. The Note Holder will determine my new interest rate and the changed amount of my scheduled payment in accordance with Section 4 of the Note. 4. INTEREST RATE AND SCHEDULED PAYMENT CHANG ES (A) Change Dates Each date on which my interest rate could change is called a "Chauge Date". (Mark one) [] The interest rate I will pay may change on the first day of September 2006 aud on that day every 24th month thereafter. [] The interest rate I will pay may change __and on every thereafter. (B) The Index Beginning with the fin:st Chan~e Date, my interest rate will be based on an Index. The "Index" ism°nthly weighted average cost of savings, 5orrowings and advances of lnembers of the Federal Home Loan-h-B~a~ o~t'-San -l¢~:ancisco The most recent Index figure available as of the date[] 45 days [] before each Change Date is called the "Current Index". If the Index is no longer'available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding~ and 625/1000 percentage points ( 2.625 _%) to the Current Index. The result of this calculation: ~ will not be rounded off. ~ will be rounded offby the Note Holder to the nearest 0.125 %. ~ will be rounded offby the Note Holder up to the nearest %. ~ will be rounded offby the Note Holder down to the nearest %. Subject to the limitations stated in Section 4(D) below, this amount will be my new interest rate until the next Change Date. The Note Holder will then dete~Ne the amount of the scheduled payment that would be sufficieut to repay the unpaid principal that I am expected to owe at the Change Date in fi~ll on the maturiW date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my scheduled payment. 8456.CV (5/04) 1-041295 Page 2 of 4 ~ / GOTO(000~bh) (D) Limits on Interest Rate Changes [] My interest rate will never be increased or decreased on any single change date by more thml 1.000 percentage points from the rate of interest I have been paying lbr the preceding period. [] My interest rate will never be greater than 9.500 % or less than 2.625%. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new scheduled payment beginning on the first scheduled payment date after the Change Date until the amount of my scheduled payment changes again. (F) Notice of Changes At least 25 days, but no more than 120 days, before the effective date of any payment change, the Note Holder will deliver or ~nail to me a notice of any changes in my interest rate and the amount of my scheduled payment. The notice will include information required by law to be given me and also the title and telephone number ora person who will answer any question I may have regarding the notice. B. FUNDS FOR TAXES AND INSUIL4NCE [Mark one] [] Unifo~rn Covenant 3 of the Security Instrument is waived by the Lender. [] Uniform Covenant 3 of the Security Instrument is amended to read as fbllows: 2. SCHEDULED PAYMENTS FOR TAXES AND INSURANCE (A) Borrower's Obligations 1 will pay to Lender all amounts necessary to pay fnr taxes, z, ssessments, leasehold pay~nents or ground rents (if any), and hazard insurance on the Property and mortgage insurance (il' any). I will pay those amounts to Lender unless Lender tells me, in writing, that I do not have to do so, or unless the law requires otherwise. I will make those payments on the same day that my scheduled pay~nents of principal and interest are due under the Note. Each of my payments under this Paragraph 2 will be the sum of the following: (i) The estimated yearly taxes and assessments on the Property which under the law may be superior to this Security Instrument, divided by the number of scheduled payments in a year; plus, (ii) The esti~nated yearly leasehold payments or grotmd rents on the Property, if' any, divided by the number of scheduled payments in a year; plus (iii) The estimated yearly pre~nium for hazard insurance covering the Property, divided by the number of scheduled payments in a year; plus (iv) The estimated yearly pre~nium for mortgage insurance (if any), divided by tile number of scheduled payments in a year. Lender will estimate fi'om time to time my yearly taxes, assessments, leasehold payments or ground rents and insurance premiums, which will be called the "escrow items". Lender will use existing assessments and bills and reasonable estinmtes of future assessments and bills. The amounts that I pay to Lender for escrow items under this Paragraph 2 will be called the "Funds". (B) Lender's Obligations Lender will keep the Funds in a savings or banking institution which has its deposits or accounts insured or guaranteed by a federal or state agency. If Lender is such an institution, Lender may hold the Fnnds. Except as described in this Paragraph 2, Lender will use the Funds to pay the escrow items. Lender will give to me, without charge, an annual accounting of the Funds. That accounting must show all additions to and deductions from the Funds and the reason for each deduction. Lender may not charge me for holding or keeping the Funds, for using the Funds to pay escrow items, for analyzing my payments of Funds, or for receiving, verifying and totaling assessments and bills. However, l.ender may charge me for these services if Lender pays ~ne interest on the Funds and if tile law permits Lender to ~nake such a charge. Lender will not be required to pay me any interest or earnings on the Funds unless either (i) Lender and 1 agree in writing, at the time I sign this Security Instrument, that Lender will pay interest on the Funds; or (ii) the law requires Lender to pay interest on the Funds. (C) Adjustments to the Funds If Lender's estimates are too high or if taxes and insurance rates go down, the amounts that I pay under this Paragraph 2 will be too large. If this happens at a time when I am keeping all of my promises and agreements made in this Security Instrument, 1 will have the right to have the excess amount either promptly repaid to tne as a direct refitnd or credited to my future scheduled payments of Funds. There will bc excess amounts if, at any time, the sum of (i) lhe amount of Funds which Lender is holding or keeping, plus (ii) the amount of the scheduled payments of Fnnds which I still must pay between that time and the due dates of escrow items is greater than the-amount necessary to pay lhe escrow items when they are due. If, when payments of escrow items are due, Lender has not received enough Funds to make those payments, l will pay to Lender whatever additional amount is necessary to pay the escrow items in tull. I lnnst pay that additional amount in one or more payments as Lender may require. When I have paid all of the sums secured, Lender will promptly retired to me any Funds that are then being held by Lender. lf, as a result of the exercise by Lender of any of its rights under this Security lnstru~nent, either Lender acquires the Property or the Property is sold, then i~nmediately before the acquisition or sale, Lender will use any Funds which Lender is holding at the time to reduce the sums secured. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. (Seal) .' tile, Trustee (Seal) .(Seal) .(Seal) Borrower Borrowe~ Bo~ower (Seal) 8456.CV (5/04) 1 ~041295 Page 4 of 4 GOTO(000afdba) PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 9th dayof August 2004 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Secuhty Instrument") of the same date, given by Ihc uudersigned (the "Borrower") to secure Borrower's Note to Mid America Mortgage Services, Inc. (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 39 Pineview Circle Thayne, WY 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 conunon areas and facilities, as described in (the "Declaration"). The Property is a part ora plmmed unit development known as [Name of Planned Unit Development] (the "PUD"). The Properly also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the connnon areas and facilities of the PUD (the "Owners Association") and the uses, benelits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Insm,nient, Borrower and Lender further covenant and agq'ee as follows: A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent Documents. The "Constituent Documents" are the (i) Declaration; (ii) articles ofincoq)oration, trust instrument or any equivalent document which creates the Owners Association; and (iii) anyby-laws or other rules or regulations of the Owners Association. Borrower shall p,'omptly pay, when due, all dues mid assess~nents 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 insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deduchble levels), lbr 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, for which [,ende~ requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to kender of the yearly premium iustallments ibr 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 cau 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, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as maybe reasonable to insure that the Oumers Association maintains a public liability insurance policy acceptable in fomL mnount, 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 condemnation or other taking of all or any part of the Property MULTISTATE PUD RIDER-Single Family-Fannie Mae/Freddie Mac UNII:OI~M INSTRUM~4T Form 3150 1/01 11292.CV (4/02) 1-041295 ~z~ ~N~))(page I o]'2page~) _ GOTO(000a t~:20) 4 or the common areas and facilities of the PUD, or for any conveyance in lieu ofconderm~ation, 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. Bon'ower 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 abandonment or termination of the PUD, except for abandonment or termination req uired by law in fl~e case of substantial destruction by fire or other casualty or in the case ora taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" if thc provision is for the express benefit of Lender; (iii) termination of professional management and assumption ofself-managetnent oftbe 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 l~ender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then ]Lender may pay them. Any amounts disbursed by Lender uuder this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest fi-om the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requestiug payment. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider. · (Seal) Bo~ower _ (Seal) MULTISTATE PUD RIDER-Single Family-Fannie Mae/Freddie Mac UNIFOI{M INSTRUMENT 11292.CV (4/02) 1-041295 Form 3150 1/01 (page 2 of 2 pages) GO fO(000afc20)