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HomeMy WebLinkAbout904035RemrnTo: WELLS FARGO HOMg MORTGAGE 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 Prepared By: COMMUNITY FIRST MORTGAGE, LLC 90[ 035 RECEIVED LINOOLN COUNTY OLERK 04 0£T 22 Pi:~ t~: 23 581030000 '[Space Al]eve Tiffs Line For Rec,.nli.g MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding fl~c usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated OCTOBER 18, 2004 together with all Riders to this document. (B) "Borrower" is ROGER D. SMITH. A SINGLE PERSON Borrower is the mortgagor under this Security Instrument. (C) "Lender" is COM3tUNITY FIRST MORTGAGE, LLC Lender is a LIMITED LIABILITY COMPkNY organized and existing under the laws of THE STATE OF DELAWARE 0047691605 WYOMING-Single FamiJy-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP MORTGAGE FORMS - 1800}521-7291 Form 3051 1/01 f?;"i:::)}}i.'(;?i': ::'-Y?':- 0904035 . ,- 05S0 Lender's address is P.o. BOX 10304, DES MOINES, IA 503060304 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrdwer and datcdOCTOBER 18, 2004 The Note states that Borrower owes Lender SEVENTY FOUR THOUSAND AND 00/100 Dollars (U.S. $ ****'74,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than NOVEYmER 01, 2019 0g) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (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 applicablel: F--] Adjustable Rate Rider [--] Condominium Rider [~] Second Home Rider [--] Balloon Rider ~] Planned Unit Development Rider ~ 1-4 Family Rider [---] VA Rider [--] Biweekly Payment Rider ~'} Other(s) [specifyl Hanufactured Home Rider OD "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have thc ctl'cct 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 other charges that are imposed on Borrower or the Property by a cmMonfinium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of fu,Ms, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, .,' attthorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire trausfers, 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 paid by any third party (other than insurance proceeds paid under thc coverages described in Section 5) for: ti) damage .to, or destruction of, the Property; (ii) condemnation o,' other taking of all or auy part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. tM) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. tN) "Periodic Payment" means the regularly scheduled amount due for ti) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instru,nent. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), :ts they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (~-6(WY) tooos) Pag~ 2 of ~s Form 3051 1/01 0904035 :'0591 (P) "Successor in Interest of Borrower" means any party that Il:ts taken title to the Property, whether or not that party has assnmed Borrower's obligations nnder the Note ;md/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all'renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covethants and agreements under this Security Instrument and the Note. For this purpose, Borrower docs hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, thc fi)llowing described property located in the COUNTY of LINCOLN : [Type of Recording Jurisdiction] IN;mm of Recording Jurisdiction] LOTS 14 AND 15 OF SOUTHLAND PARK, TOWN OF DIAMONDVILLE, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. 1995 KIT MANUFACTURED HOM~, MODEL G95 79Z18 SERIAL NUMBER 14686, CERTIFICATION LABEL #(S) IDA 141486 AND IDA 141487 TAX STATEMENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, P.O. BOX 10304, DES MOINES, IA 503060304 ParcellD Number:12 2116 1148 COAL CREEK DRIVE DIAMONDVILLE ("Property Address') 25 3 04 037 which currently has the address of [Street] [City] , Wyonfing 83116 [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 Security Instrument. All of the tbregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully sciscd of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that thc Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend g¢~erally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT cmnbines uniform covenants for national use and non-uniform coveuants with 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, Prepayn~ent Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, thc debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borro\vcr shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this (~-6(WY) (ooos! Page 3 of 16 Form 3051 1/01 0: 040 5 O592 Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequem payments due under the Note and this Security Instrument be made in role or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn t/pon an instmmon whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Paymems 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 insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its schedttlcd due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such fttnds will be applied to the outstanding principal balance under the Note immediately prior to forechlsure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Bm'rower from making payments due under the Note and this Security Instrument or performing the covenants a~ld 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 fi)llowing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such pay~nents shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, 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 amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstandi ng, Lender nay apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the paymcm is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Procebds to principal due under the Note shall not extend or postpone the due date, or change thc anlount, of file Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain p,'iority over this Security Instrument 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 payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of file Lt~an, Lender ~nay 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 ftu'nish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender file Funds fi~r 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 :thy time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts h~itials:~ (~-6(WY) (00061 Page 4 of ~ ~ Form 3061 1/01 09040:35 059" . ~ due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment wiflfi n such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security'Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lc.der 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 l'tems at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amt)t.~t (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Fu~lds 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 shrill be held in an institution whose aleph,sits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for I.flcliug aud applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, u.lcss Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. U.less an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Le~cler shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender ca. agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, witl.~ut charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accorda.ce with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay t~ Lender file amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessmems, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Associati~. Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them iu the manner provided in Section 3. Borrower shall promptly discharge any lien which has pri~rity 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 as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedi.gs which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings arc pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agrec.~ent satisfactory to Lender 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 Security Instrument, Lender ~.ay give Borrower a notice identifying the (~)~-6(WY) (ooo6) Pag, s of ~ Form 3051 1/01 0:9040 5 lien. Within 10 days of the date on which that notice is given, I~ormwer shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge flIt a rcm estate tax verification and/or reporting service used by Lender in connection with this 'Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and flt~{lds, for which Lender requires insurance. This insurance shall be maimained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be choseu by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone detemfination and certification services and subsequent charges each time rcmappings or similar changes occur which reasonably might affect such determination or certification. Bm'rower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objecti,m 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 cover:igc shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or thc cm~tents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice 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 mm-tgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have tile right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give t,~ Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance cm'crage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice t~ the insurance carrier and Lender. Lender may make 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 restoratim~ 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 insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. 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. Unless an agreement is ~nade in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender ,shall not be required to pay Borrower any interest or earnings on such proceeds. Fees 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 economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with (~-6(WY) 1ooo~) Pag, ~ of ~ ~ \ Form 3051 1/01 080403 -0595 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may .file, ncgOtl:~te and settle any available insurance claim and related matters. If Borrower does not respond wiflfin 30 (lays to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under thc Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any rchmd of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrunm~t, whed~er or not then due. 6. Occupancy. Borrower shall occupy, establish, and usc the Property as Borrower's principal residence within 60 days after the execution of this Security h~strulnent 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 unrcasm)ably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property m deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Bm'rower 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 nt~t economically feasible, Borrower shall promptly repair the Property if damaged to avoid further dctcrio)'ation or damage. If insurance or condemnation proceeds are paid in connection with damage to, m' the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restm'atim~ in a single payment or in a series of progress payments as the work is completed. If the insurance or condenmation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspcctim~ specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or il~ccurate ioformation or statements to Lender (or failed to provide Lender with material information) i, connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements con(al ned in dfis Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's imcrest in die Property and/or rights under this Security Instrument (such as a proceeding,in bankruptcy, pr{~bate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, fl~cn Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in fl~e Property and rights under this Security Instrument, including protecting and/or assessing the value of thc Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable (0005) Page 7 of 15 Form 3051 1/01 -- 059G attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing thc Property includes, but is not limited to, entering the Property to make repairs, change locks, replace m b~ard up doors and windows, drain water from pipes, eliminate building or other code violations or d,'mgerous conditions, and have utilities turned on or off. Although Lender may take action ut~der this Section 9, Lender does'not have to do so and is not under any duty or obligation to do so. It is agreed that Lender .curs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender ut~der this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon m)tic~ fi'om Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower slmll comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehtdd and d~e fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage IHsur:mce as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mol'lgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the ~nortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premimns required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insur:mce previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equiv,'He,t Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount oF the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Iusurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultim:ttcly 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 aulount and for the period that Lender requires) provided by an insurer selected by Lender again becomes :tvailable, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making fl~e Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Bol'rowcr shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a mm-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity tlmt purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Bm'rower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such illStll'ancc in force from 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 inst,rer 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, Lemler, any purchaser o1' the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, n~ty receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often terlned "captive reinsurance." Further: (a) Any such agreements will not affect the amm, nts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such ag,'eements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (~-6{WY} 1ooo5) Page 8 of 15 Form 3051 1/01 --0597 (b) Any such agreements will not affect the rights Bo,Tower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terrain;tied automatically, and/or to receive a refund of any Mortgage Insurance premiums that 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 Property is damaged, such Miscellaneous Proceeds sh:tll 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 thc right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property t. ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender nkay pay for the repairs and restoration in a single disbursement or in a series of progress pay]nents as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not econm,ically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to thc sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrmvcr. Such Miscellaneous Proceeds shall be applied in the order provided for 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 Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument i~mnediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fidr market value of the Property irmnediately 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 value of the Property in which the fair market value of the Property innnediately before the partial ta-king, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim 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 Property 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 impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other nhaterial impairment of Lender's interest in the Property or rights under this Security I. nstrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. (~t~6(WY) (00o51 Page 9 of ~5 Form 3051 1/01 0598 12. Borrower Not Released; Forbearance By Lender Not .a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not t~pcrate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for pay~nent or otherwise modify amortization of the sums secured by this Security Instrument by reason of any detnand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments t¥om third persons, entities or Successors in Interest of Borrower or in amounts less than the amtmnt then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the N(~tc (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 terms of this Security Instrument; (b) is not personally obligated t~) pay the sums 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 lnstrmnent or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in lnterest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Inst,'UlnCnt. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and 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 fees fro' services performed in cmmecfion with Borrower's default, for the purpose of protecting Lender's interest in d~e Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in conuection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be redt,ccd by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected fi'mn Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refuud by reducing the principal owed under the Note or by making a direct payment to Borrt)wer. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund ~nade by direct payment to Borrower will constitute a waiver of any right ~)t' 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 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 if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers mfless 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 specifics :~ procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed tt~ have beeu given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the correspm~ding requirement under this Security Instrument. (~)~-6(WY) 1ooo5) pag. lO of 1ti Form 3051 1/01 -,. 051t0 16. Governing Law; Severability; Rules of Construclion. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which thc Property is located. All rights and obligations contained in this Security Instrument are subject m any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow die parties to agree by contract or it nfight be silent, but such silence shall not be construed as a prtddbition against agreement by contract. In the event that any provision or clause of this Security Instrument m' the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of thc Note and of this Security Instru~nent. 18. Transfer of the Property or a Beneficial Interest in Ilorrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interes~ in thc 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 the transfer of title by Bm'rower 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 s~lcl m' transferred) without Lender's prior written consem, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lcl~dcr 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 mmcc is given in accordance with Section 15 within which Borrower must pay all sums secured by this Securi[y Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender ma) invoke auy remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. It' Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property imrsuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable l.aw might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment etd't}rcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuatim~ fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights uhder this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums sechred by this Security Instrument, shall continue unchanged. Lender may require that Bt~rrowcr pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security lnsmmlent and obligations secured hereby shall remain fully effective as if no acceleration had occurred. I Iowcver, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Seryicer; Notice of C, rievance. The Note or a partial interest in the Note (together with this Security Instrumen0 can be sold {mc m' inore times without prior notice to Borrower. A sale might result in a change in the entity (known :ts the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of thc 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 bc made and any other information RESPA ~-6(WY) (ooosj P.g. ~ ~ of ~ ~ Form 3051 1/01 06i 0 requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan 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 purchaser unless otherwise provided by thc Note purchaser: Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such nlleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which nmst 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 thc notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, m' wastes by Environmental Law and the following substances: gasoline, kerosene, other flarmnable o,- toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jt,risdiction where the Property is located that relate to health, safety or environmental protection; (c) "Envirmm~cutal Cleanup" includes any response action, remedial action, or removal action, as defined in Envimlm~cntal Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on m' in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Enviromnental Law, (b) which creates an Enviromnental 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 snmll quantities of Hazardous Substances that are generally recognized to be al~pmpriate to normal residential uses and to nmintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) a%, investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Bmmwer has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilliug, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects.the value of thc Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private p:trty, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. Initials: ~,.."~ 5 (~}~-6(WY) Iooos) Page ~2 of ~ Form 3051 1/01 · 9040 {5 · , 06.01 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borro~ver prior to acceleration following Borrower's breach of any covenant or agreement' in this Secority Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, oot less than 30 days from the date the notice is given 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 resul! in acceleration of the sums secured hy this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Leoder shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if differem, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the maoner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold io the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at aoy sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Secm'ity Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender nmy 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 permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights trader and by virtue of the homestead exemption laws of Wyoming. Initial~:g'~ 3 (~-6(WY) (ooosl Paga 13 of 16 Form 3051 1/01 BY SIGNING BELOW, Borrower accepts and agrees to thc terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Wimesses: (Seal) -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (~<~6(WY) (00051 Page 14 of 16 Form 3051 1/01 ~. 0 6 0 3 STATE OF WYOMING, The foregoing instrument was acknowledged before me this by ROGER D. SMITH Lincoln County ss: 18th day of October , 2004 My Commission Expires: (~-6G(WY) ~ooos) Page 15 of 15 Form 3051 1/01 MANUFACTURED HOME RIDER TO TH E :'; E CURITY INSTRUMENT This Rider is made this 18TM DAY OF OCTOBER, 2004 , and is incmporated into and amends and supplements the Mortgage, Open-End Mortgage, Deed of Trust, or Credit Line Dccd t ll' Trust, Security Deed ("Security Instrument") of the same date given by the undersigned ("Bo/rower"~ tu secm'e Borrower's Note to COMMUNITY FIRST MORTGAGE, LLC ("Lender") of the same date ("Note") and covering the Property described in thc ,qccurity Instrument and located at: 1148 COAL CREEK DRIVE, DIAMONDVILLE, WY 83116 (Property Address) Borrower and Lender agree that the Security Instrument is amended and supplemented to read as follows: 1. Meaning of Some Words. As used in this Rider, the tm-m "Note" means the Promissory Note that is dated with the same date as the Security Instrument. As used in this I~ider, the term "Loan Documents" means the Note, the Security Instrument and the Construction Loan :\greement. As used in this Rider, the term "Lender" means [LENDER] and any subsequent holder of thc Note and the Security Instrument, the term "Borrower" means anyone signing the Note or the Security Instrument as a Borrower, and the term "Property" as that term is defined in the Security Instrument, includes the "Manufactured Home" described in paragraph 3 of this Rider, to the extent it constitutes real pr¢l~erty or a fixture. All terms defined in the Note or the Security Instrument shall have the same meaning in this Rider. 2. Purpose and Effect of Rider. IF THERE IS A CONFLICI' BI!T\VEEN THE PROVISIONS IN THIS RIDER AND THOSE IN THE SECURITY INSTRUMENT ()R T} I E NOTE, THE PROVISIONS 1N THIS RIDER SHALL CONTROL. THE CONFLICTING I'I(£)VISIONS 1N THE SECURITY INSTRUMENT AND THE NOTE WILL BE ELIMINATED ()R MODIFIED AS MUCH AS IS NECESSARY TO MAKE ALL OF THE CONFLICTING TIiI{MS AGREE WITH THIS RIDER. 3. Lender's Security!nterest. All of Borrower's obligations sccu,'ed by the Security Instrument also shall be secured by the Manufactured Home: USED 1995 KIT G95 79Z18 14686 66.8 X 26.9 New/Used Year Manufacturer's Name Model Name and Model Affixation. Borrower covenants and agrees: (a) (b) Set'iai No Length x Width to permanently affix the Manufactured Home to the lh'operty, to comply with all state and local laws, and regulations regardh~g the affixation of the Manufactured Home to the Property; (c) upon Lender's request, to surrender the certificate of title to the Manufactured Home, and to obtain the requisite governmental approval and documentation necessary to classify the Manufactured Home as real property under Applicable Law; (d) that affixing the Manufactured Home to the Property does not violate any zoning laws or other local requirements applicable to the Property; (e) that the Manufactured Home will be, at all times and k)r all purposes, permanently affixed to and part of the Property. Charges; Liens. Section 4, Paragraph 1 of the Security Instrmncnt is amended to add a new third sentence to read: Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph and receipts evidencing the payments. Property Insurance. Section 5, Paragraph 1 of the Security Instrunaent is amended to add'a new second sentence to read: Whenever the Manufactured Home is transported on the highway, Borrower must have trip insurance. Page I of 3 Rev 05/25/04 · 7. Notices. The second sentence of Section 1 $ of the Security Instalment is amended by inserting the words "unless otherwise required by law" at the end. 8. Additional Events of Default. Borrower will be in defaul! under lt~e Note and the Security Instrument: (a) if any structure on the Property shall be removed, demolished, or substantially altered; (b) if Borrower fails to comply with any reqmremcm of federal, state or local governmental authorities (the Lender, however, may comply ami add the expense to the principal balance Borrower owes to Lender); or (c) if Borrower grants or permits any lien on the Propcny other than Lender's lien, or liens for taxes and assessments that are not yet due and payable. 9. Notice of Default. If required by Applicable Law, before using a remedy, Lender will send Borrower any notice required by law, and wait for any cure period that the law may require for that remedy. 10. Additional Rights of Lender in Event of Foreclosure and Sale. In addition to those rights granted in the Note and Security Instrument, Lender shall have the follox~ ing rights in the event Lender commences proceedings for the foreclosure and sale of the Property. (a) At Lender's option, to the extent permitted by law, l.ender may elect to treat the Manufactured Home as personal property ("Personal Property Collateral"). Lender may repossess peacefully from the place where the Personal Property Collateral is located without Borrower's permission. Lender also may require Borrower to make the Personal Property Collateral available to Lender at a place Lender designates that is reasonably convenient to Lender and Borrower. At Lender's option, to the extent permitted by law, Lender may delach and remove Personal Property Collateral from the Property, or Lender may take possession of it and leave it on the Property. Borrower agrees to cooperate with Lender ifLendc~ exercises these rights. (d) After Lender repossesses, Lender may sell Personal l'roperty Collateral and apply the sale to Lender's reasonable repossession, repair, storage, and sale expenses, and then toward any other amounts Borrower owes under the Loan Documents (e) In the event of any foreclosure sale, whether made by Trustee, or under judgment of a court, all of the real and Personal Property Collateral may, at the option of Lender, be sold as a whole or in parcels. It shall not be necessary to have present at thc place of such sale the Personal Property or any part thereof. Lender, as well as Trustee on Lender's behalf, shall have all the rights, remedies and recourse with respect to the Personal Property a ffimted to a "Secured Party" by Applicable Law in addition to, and not in limitation of, the other rights and recourse afforded Lender and/or Trustee under the Security Instrument. Page 2 of 3 Rev 05/25/04 090A035 By sig~g below, Borrower aj~'~pts and agrees Bgrro'wert ' RO~EP~ D."g'MYT"'~ to the terms and covcmmts contained in this Rider. Bo~ower 0696 Bo~ower Bo~ower STATE OF WYOMING ) - )ss. COUNTY OF Lincoln ) I, the undersigned Notary Public, in and for the aforesaid State and Cotmty, do hereby certify that Roger B. .qm~Irh Borrower(s), personally appeared before me in said County and acknowledged the within instrument to be their act anddeed. Given under my hand and seal this 18th dayof October , 200.4 No,a,y l'ublic/r x~ ' State of .__ Wyon~ing) County of My commission expires: Drafted By:COMMUNITY FIRST MORTGAGE, LLC Page 3 of 3 Rev 05/25/04 OCT 1@ 2004 19:19 FR 0047691605 . ...: '): ... TO 13078779602 P.05 0 7 MANUFACTURED HOME RIDER TO THE MORTGAGE/DEED OF TRUST/SECURITY DEED This Rider is made this OCTOBER 18, 2004 , and is incorporated into and amends and supplements-the-Mortgage/Deed-of-Trust/Security Deed (the "Security Instrument'-') of the same date, given by the undersigned (the "Borrower') to secure Borrower's Note to COMMgIRITY FIRST MORTGAGE, LLC (the "Lender") of the ~ame date (the "Note") and covering the Property described.in the Security Instrument and located at: 1148 COAL CREEK DRIVE, DIAMONDVILLE, WY 83116 (Property Address) Borrower and Lender agree that the Security Instrument is amended and supplemented to read as follows: The Property covered by the Security Instrument (referred to as "Property" in The Security Instrument) includes, but is not limited to, the Manufactured Home (Serial Number, if required, ) affixed to the property legally described in the Security Instrument. B. Additional Covenants of Borrower Borrower will comply with all state and local laws and regulations regarding the affixetion of the Manufactured Home to the property described in the Security Instrument including, but not limited to, surrendering the Certificate of Title {if required) and obtaining the requisite governmental approval and accompanying documentation necessary to classify the Manufactured Home as reel property under state and local law. The Manufactured Home described above will be, at all times and for ell purposes, permanently affixed to and par[ of the property described in the Security Instrument. AfJixing_the_Manufactured_Homelo_,the property described-in the~Securhy Instrument does not violate any zoning laws or other local requirements applicable to manufactured homes. NMFL ,~3322 03/01 Page 1 of 2 OCT 1@ 2004 19:20 FR TO : .: }.}': · '.'":}.:::.: .'.., 1S~78779602 P. 01:; 090~085 By signing below, Borrower accepts and agrees to the terms and covenants contained this Manufactured Home Rider. ? -I~orro~cr l~OgR ~. S'~T~ -~no~cr (Seal) (Seal) -Borrower -Borrower -Borrower -Borrowe~ (s~) (sm) -]~rrower -Borrower STATE OF COUNTY OF Lincoln ~ss. I, the undersigned Notary Public, in and for the aforesaid State and County, do hereby certify that ROGER D. SMITH Borrower(s), personally appeared before me in said County and acknowledged the within instrument to be their act and deed. Given under my hand and seal this :LS~'H day of OC~O~E~ , 200¢ . ~ //g My oo.,~ission e~pir..: [ D-' 9.- 0 No,~,, ~,~ U NMFL a3321 03/01~Page 2 el 2