Loading...
HomeMy WebLinkAbout904190After Recording Return To: ADVANCIAL FEDERAL CREDIT UNION 1845 WOODALL RODGERS FREEWAY SUITE 1300 DALLAS, TEXAS 75201-1600 LOAN NO.: 3066 ESCROW NO.: TITLE NO.: PARCEL NO.: 904190 0 5 7 IpRp/!61 ( 0 1 RECEIVED L1NOOLt*,I O01JNT¥ OLERK [SPACE AB() V E TI 11S L1NE FOR RECORDING DATA] MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined bcl(m and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated OCTOBER with all Riders to this document. 25 , 2004 , together (B) "Borrower" is GUSTAVE G LINDBLOM Borrower is the mortgagor under this Security Instrument. (C) "Lender" is ADVANCIAL FEDERAL CREDIT UNION Lender is a FEDERAL CREDIT UNION __ organized and existing under the laws of THE STATE OF TEXAS Lender's address is 1845 WOODALL RODGERS FREEWAY SUITE 1300; DALLAS, TEXAS 75201-1600 · Lender is thc mortgagee under this Security Instrument. (I)) "Note" means the promissory note signed by Borrower and dated ()CTOBER 25 , 2004 The Note states that Borrower owes Lender ONE HUNDRED ELEVEN THOUSAND SIX HUNDRED TWENT~ FIVE AND 00/100 .................. Dollars (U.S. $ 111,625.00 ) plus interest. Botxowcr has promised to pay this debt in regular Periodic Payments and to pay the debt in ~ull not later than N( \ I..MIII:R 01 2034 WYOMING-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTRtJ~'IEt~'I~j/ Form 3051 1/01 Doc'v~ev$ea}qc'£$ Igc: FO~M- MTGWY1-3051 Page 1 of 14 ORIGINAL (E) "Property" means the property that is described below under thc heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interesL any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, phis interest. (G) "Riders" means all Riders to this Security Instrument that arc executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Balloon Rider [] 1-4 Family Rider [] Other(s) [specify]: [] Condominium Rider [] Planned Unit Development Rider [] Biweekly Payment Rider [] Second Home Rider [] Assumption Rider [] Inter Vivos Trust Rider (ti) "Applicable Law" means all controlling applicable federal, sHHc 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. (I) "Community Association Dues, Fees and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condom i.ium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, tHhcr 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, or authorize 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 transfers, and automated clearinghouse transfers. (If) "Escrow Items" mean 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 the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other takiHg tH' all or any part of the Property, (iii) conveyance in lieu of condemnation; or (iv) misrepresentations or; or omissions as to, the value and/or condition of the Property. (IVI) "Mortgage Insurance" means insurance protecting Lender agaiHst the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount d,c lbr (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Estate Settlement Procedures Act 1.12 U.S.C. § 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended fi'om time to time, or any additional or successor legislation or regulation that governs thc same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and rcsH'ictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not quali fy as, "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not LOANthat partYNo.:has 3066assumed Borrower's obligations under the Note and/Orinitials t his' S/~cu2ity ~strument--~~.~ ~ WYOMING-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTI{t2~I~[;/ Form 3051 1/01 Doc'v~S~qc'~i I~vc'. Fora,4- MTGWYI40Sl Page 2 of 14 ORIGINAL Q9041.~0 TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of thc Loan, 0138 and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's ct~vcnants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mtn-tgage, grant and convey to Lender and Lender's successors and assigns, with power of sale; the following described property located in the COUNTY of LINC¢}I~N [Type of Recording Jurisdiction[ IName of Recording Jurisdlctlonl LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PA RT Il E REOF TWO PAGE PUD RIDER ATTACHED HERETO AND MADE A PAI¥1' IIEREOF I'ARCEL NO.: which currently has the address of 29 WILDCAT CIR THAYNE [City/Areal I,qtreetl ,Wyoming 83127 lZil: Codel ("Property Address"): 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 foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seiscd of thc estate hereby conveyed and has the right to mortgage, grant and convey the Property and that thc l'roperty is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a tmifimn security instrument covering real property. LOAN NO.: 3066 Inilials VfYOMING-Single Family-Fannle Mae/Freddie Mac UNIFORM INS'IRtIMI~T[/ Form 3051 1/01 Doc'~S£~lc'es I~vc'. vo~a./ava~w~-~0s~ Page 3 of 14 ORIGINAL · ,-,01.39 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security lnsh'ument shall' be made in U. S. currency. However, if any check or other instrument received by Lender a.s payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require tha! any or all subsequent payments due under the Note and this Security Instrument be made in one or more of thc I'~dh)wing 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 ~, tL'deral agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when recetved at thc location designated in the Note or at such other location as may be designated by Lender in accordance with thc notice provisions in Section 15. Lender may return any payment or partial payment if the payment ,r partial payment 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 scheduled duc date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until B~m'ower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of~imc, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will bc applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making paymcms due under the Note and this Security Instrument or performing the covenants and agreements secured by Ibis Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining 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 il~e 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 Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the fid l payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amotmt, of the Periodic Payments. sums payable by Borrower to Lender in lieu of the payment of M~rtgage ,~/~n7 30. '""'"" ::41:> WYOMING-Single Family-Fannl, Mae/Freddie Mac UNIFORM INS'I'RUM t~/'~// Doc'l'~z~',g~mc~s,I~c'. FORM-MTGWYI-30Sl Page 4 of 14 ~/ (/ v ORIGINAL 3. Funds for Escrow Items. Borrower shall pay to Lender on the clay Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide fi~r payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground ,'cms on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) M~rtgage Insurance premiums, if any, or any premiums in accordance Form 3051 1/01 ,0!40 with the provisions of Section 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 bc an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay thc Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Esci'ow Items at any time. Any such waiver may only be in writing. In the event of such waive;', Bom)wet shall pay directly, when and where payable, the amounts 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 within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, kcmlcr 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 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 anytime, collect and hold Funds in an amotml (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed thc maximum amount a lender can require tinder RESPA. Lender shall estimate the amount of Funds due tm thc basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in ;tccordance with Applicable Law. The Funds shall be held in an institution whose deposits arc insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose dept~sits arc so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow ltcms tat) later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying thc Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of thc Ftmds 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 necessaryto make up the shortage in accordance with ItF. SPA, but in no more than 12 monthly payments. If there is a deficiencyofFundsheld in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Inst,'umcnt, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this .Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Bo~ower shall promptly discharge any lien which has piit~rity over this SecuriW Instrument unless Bo~ower: (a) agrees in writing to the payment of the obligation seem'cd by the lien in a manner acceptable to Lender, but only so long as Bo~ower is perfo~ing such agreement; (b)/~x~e~//: lient~..Din good faith by, LOAN NO.: 3066 ,,,itia Is /;~~- . -~ ~OMING-Sing,e Family-Fannie Mae/Freddie Mac U~FO~ INS'I I,}?,,.~T V Form 3051 1,01 Doc'~ae~Ssa~c'ss I~c' vo~u ~ra~ 30s~ Page 5 of 14 ~ * OmGINAL or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pemting, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreemcm satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of thc P,'operty is subject to a lien which can attain priority over this Security Instrument, Lender maX give Bom)wet a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall saiisfy 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 for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvcmcnt.~ now existing or hereafter erected on the Property insured against loss by fire, hazards included within thc term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, t't~r which Lender requires insurance. This insurance shall be maintained 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 chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised mu'casonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge fi)r flood zone determination, certification and tracking services; or (b)a one-time charge for flood zone detc,'mination and certification services and subsequent charges each time remappings or similar changes t~ccur wlfich reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with thc review of any flood zone determination resulting from an objection 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 oblig;ttion to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents 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 thc cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured bythis Security Instrument. These amounts shall bear inlcrest at the Note rate from the date of disbursement and shall be payable, with such interest, upon nt~tice fi'om 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/or as an additional loss payee. Lender shall have the right to hold ll~e policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts or' paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, 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 to thc insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless kcnder and Borrower otherwise agree in writing, any insurance proceeds, whether ornot 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, l_.ender 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 bc undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single paymcm m' in ~ series of progress payments as the LOAN NO.: 3066 Iniliah /j~.- ~ WYOMING-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTI,tq)~II,~T(~/ Form 3051 1/01 Doc'~eeS~qc'es. Iicc: ~om~-tavawv~-30s~ Page 6 of 14 ORIGINAL work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or 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 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, negotimc and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice fi'om Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30~day period will begin when the notice is given. In either event, or if Lender acquires tl~c Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of thc 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 usc 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, o.' tmlcss extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the l','operty; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property 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, Borrower 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, 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 restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation 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 thc Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in defimlt it; 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 inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Lc)all. 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 contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's intel'cSt in the/~ro~ertyfland/or rights under this LO*NNO.: 30 , ,,,, , , :, , , H., _ WYOMING-Single Family-Fannie Mae/Freddie Mae UNIFORM INS]R ti~l ErgOt' v Form 3051 1/01 DOCPREPS£RFIC'£& I~rc'. FO~- MTGWYI-30Sl Page 7 of 14 '~ ORIGINAL 09041L 0 0143 Security Instrument (such as a proceeding in bankruptcy, probate, 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, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights trader this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien. which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasomd~lc attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited l,, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water fi'om pipes, eliminate building or' other code violations or dangerous conditions, and have utilities turned on or <~t'f. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any d,ty or Obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authori×cd under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at thc Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and thc fcc titl~ shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to bc ,vailable from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay linc premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in cflbct, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, fi'om an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments tlmt were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments tow,rd thc premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making thc l~oan and Borrower was required to make separately designated payments toward the premiums for Mortgage Inst.'ance, Borrower shall pay the premiums required to'maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until the 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 rCcluircd 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 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 fin'ce 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 ~o make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). ~/~,~/ ~~ LOAN NO.: 3066 Inilial~ , WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRV¥1.~NT Form 3051 1/01 DOC'PREP SERVICES. INC. FOP. M - MTGWYI-30Sl Page 8 of 14 ORIGINAL As a result of these agreements, Lender, any purchaser of thc Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share.of the prcm itm~s paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements ~ill not iucrease the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borro~er t. any refund. (b) Any such agreements will not affect the rights Borro~ver has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any olher 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 premiums that were unearned at the time of such cancellation m' termiuation. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All ~liscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall bc applied to restoration or repair of the Property, if the restoration or repair is economically feasible and l~cndcr'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 inspect such Property to ensure fi~c work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress paymcms as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest it) 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 bc applied in the order provided for in Section 2. In the event of a total taking, destruction or loss in value of thc 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 ora partial taking, destruction, or loss in value of thc Property in which the fair market value of the Property immediately before the partial taking, destruction, o,' loss iu value is equal to or greater than the amount of the sums secured by this Security Instrument immcdi,tcly before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in w,'iting, 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 fair market value of the Property immediately be fore 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 thc Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in 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. ~.~-'~/~//~ ~ LOAN NO.: 3066 Inifi,a. lsl*' WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INS I I~I0~ENT Form 3051 1/01 Doc'l,~evS£~vtces, I~rc'. ro/~u-MTGWYI-3OSI Page 9 of 14 ORIGINAL 4 If the Property is abandoned by Borrower, or if, after notice by kcnder 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, [_cnder is authorized to collect andapply the Miscellaneous Proceeds either to restoration or repair of the Property tlr to the sums secured by this Security Instrument, whether or not then due. "Opposing Pa.rty" means thc 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&fault if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or ofl~cr 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 actim~ 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 Security Instrument. Thc proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest i~ 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. 12. Borrower Not Released; Forbearance By Lender Not '.l Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Insmnnent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release Ibc liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or c~thc,'wise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, cl~litics or Successors in Interest of Borrower or in amounts less than the amount 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 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 terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note wifl~out the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. shall not be construed as a prohibition on the charging of such fcc. Lender ma/y expressly prohibited by this Security Instrument or by Applicable I/ //I/ WYOMING-Single Family-Famfie Mae/Freddie Mac UNIFORM INS'I'RVM DOC'PREPS£RVIC£$, INC'. FORM- MTGWY1-3051 Page 10 of 14 ORIGINAL 14. Loan Charges. Lender may charge Borrower fees tbr services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in thc Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property i~spcction and valuation fees. In regard to any other fees, the absence of express authority in this Security Insmm~cnt to charge a specific fee to Borrower not charge fees that are Form 3051 1/01 0 041 0 .... 0!46 If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the ammmt necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. Ifa refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might 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 h~stmment 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 re)lice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be thc Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of thc 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 Properly, 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 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 mmsfcrred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is 1~ ' ' ~licable Law. LOAN NO.: 3066 Inhlal~ ~/~ WYOMING-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTRt~ME~ Form 3051 1/01 Doc'~n~S~r~c'~s. l~c'. ~o~- rarawv~-a0s~ Page 11 of 14 ' ORIGINAL ODO4Z 30 .0147 If Lender exercises this option, Lender shall give Borrower notice of .'~cceleration. The notice shall provide a period of not less than 30 days from the date the notice is given ~. accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. I f Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pcmfittcd by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the fight to have enforcement of this Security Instntmcnt discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to Section 22 of 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 arc that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument am thc 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 attor, cvs' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged unless as otherwise provided under Applicable Law. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Griev:mce. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other lnOl-tgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also ,fight be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of thc l_xmn 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 information RESPA 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 mo/-tgage 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 the 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 otho' 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 thc other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action, If Applicable Law provides a 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 Ol, ptn'tunity 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 Secti/m 20. ,,,,,,,,,, WYOMING-Single Family-Fannie Mae/Freddie Mae UNIFORM INSTRt¢iE~F {/' Form 3051 1/01 Doc~,~e~,$z~}'~c'~s, I~c'. Fom~-MTGWYI-3051 Page 12 of 14 ORIGINAL 0148 21. Hazardous Substances. As used in this Section 21: (a) "llazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: 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 federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response .action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Elwimnm:ntal condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Clcant,p. 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 ,n' in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to thc presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of tl~c Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or pri\'at¢ party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, usc or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower loams, or is notified by any governmental or regulatory authority, or any private party, that any removal or other rcmediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender flmhcr covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security 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, not less th'.m 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that I'ailure 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 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 m~l 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. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited i., reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in aeco,'dance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Sectiou 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of II~e 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 i, ~he 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 may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for and the charging of the fee is permitted under Applicable Law. rydS/ /ervices rendered LOAN NO.: 3066 Inilials ~/~ ~VYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRL~,IFJ~F L/ Form 3051 1/01 Doc'~n~S~Tc'~s. I~c vo~-~axw~-~0s~ Page 13 of 14 ORIGINAL 0149 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. 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. Witnesses: (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower LOAN NO.: 3066 (Seal) -Borrower .(Seal) -Borrower [Space Below This Line For Ackmm'ledgment] STATE OF WYOMING, ' '" ':' [ ~ h COUNTY SS: The foregoing instrument was acknowledged before me thi~ ,~ ~ ,D by GUSTAVE G LINDBLOM AND LYNN M LINDBLOM (date) (person acknovx lodging) MY c°mmissi°n expires:-:~'~ /-/~/~"'9(~-~- ~: Nota~blic, State of WyOming (Notarial Sea0 XVYOMING-Single Family-Fanaie Mae/Freddie Mac UNIFORM IN.~TRUiMENT Doc~'~ S~}7c'£s. IJvc'. VOVd~- m'ax~rv~-~0s~ Page 14 of 14 ORIGINAL Form 3051 1/01 ADVANCIAL FEDERAL CREDIT UNION 1845 WOODALL RODGERS FREEWAY SUITE 1300 DALLAS, TEXAS 75201-1600 APN # LOAN NO.: 3066 ESCROW # TITLE ORDER # 0150 ATTACHED TO DEED OF TRUST / MORTGAG I,; I)ATED: Loan No: 3066 Property Address: 29 WILDCAT ClR; THAYNE, WYOMING 83127 EXHIBIT A LEGAL DESCRIPTI ON [SPACE ABOVE RESERVED F()R RECORDER] OCTOBER 25, 2004 Lot 11 of Star Valley Ranch Plat 10, Lincoln County, Wyoming as described on the official plat thereof. DOCPREPSERVI£'ES. IN6~ FORM - EXHIBITA.0066 Ittitials ORIGINAL PLANNED UNIT DEVELOP 5'IENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made tiffs 25TH day of OCTOBER 200,1 . 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 sam e d.tc, given by the undersigned (the "Borrower") to secure Borrower's Note to ADVANCIAL FEDERAL CREDIT UNION (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 29 WILDCAT CIR THAYNE, WYOMING 83127 [Property Address] The Property includes, but is not limited to, a parcel of land improved wifi~ a dwelling, together with other such parcels and certain common areas and facilities, as described in ('OVENANTS, CONDITIONS AND RESTRICTIONS RECORDED: , INSTRUMENT NO.: (the "Declaration"). The Property is a part of a planned unit development known as STAR VALLEY RANCH RANCHES [Name of Planned Unit Devel.pme,~t] (the "PUD"). The Property also includes Borrower's interest in thc homeowners association or equivalent entity owning or managing the common areas and facilities of thc PtJD (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree 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 of incorporation, trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, for which Lender requires instmmcc, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain prCq~crty insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the [ern~ of the loan. LOAN NO.: 3066 Inilials MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFOR\I ILNSqlRU]b~ENT FORM 3150 1/01 Doc'w~t,S~le~qc~s. I~¢c. rov,~t./~s3~so/~-3so~ Page 1 of 2 [/ ~ " ORIGINAL 0!52 Borrower shall give Lender prompt notice of any lapse in requiFcd property insurance coveiage 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 pFocceds 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 may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim fin' damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance.in lieu of condcrnnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to thc sums secured by the Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent (i) the abandonment or termination of the PUD, except ft)r abandonment or termination 'required by law in the case of substantial destruction by fire or other casualty oF in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Dt~cuments" if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendcFing the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under 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 from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW, Borrower accepts and agrees to thc lcmm and provisions contained in this PUD Rider ~__(Sea,, 4 i,~L~"~, ~/~ (Seal) -Borrower -Borrower LYNN M IANDllLOM (Seal) .(Seal) -Borrower -Borrower .(Seal) .(Seal) -Borrower -Borrower LOAN NO.: 3066 MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac IYNIFORM INSTRUMENT DOCPREPSERI/ICE$, INC. FORM - MS3150N-3501 Page 2 of 2 ORIGINAL FORM 3150 1/01