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90 283 After Recording Return To: GMAC Mortgage Corp. 100 Witmer Road Horsham, PA 19044-0963 ATTN: Records Management RECEIVED ~,COLN COUNTY CLERK [SpaceAboveThisL~eForRecm'dingl)a~a] I.anNo. 5732~3402 bl~N Z000375-05732~3402-1 MORTGAGE DEFINITIONS Words used in multiple sections of this document are del'inud hclow 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, whiuh is dated October 28, 2OO4 , together with all Riders to this document. 0l) "Borrower" is Peter J. Edington and Rober~a Lee RockeLu]ler, husband and wife Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration %ystcms, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender ',hid Lender's successors and assigns. MERS is the mortgagee under this Security Instrmm.,n. N'IERS is organized and existing under the laws of Delaware, and has an address and teleplumc number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. 'WYOMING - Single F~nity - Fannie Ma~/Freddie M_ae^ UNIFORM INSTRUMENT Form ~051 l/O, (Page 1 of 18) 271152679 lnitials~ GMACM - CMS.0042.V~Y I0001) A49 (1)) "Lender" is GMAC Mortgage Corporation Lender is a Corporation laws of Pennsylvania 100 Witmer Road, P.O. Box 963, Horsham, organized and existing under the Lender's address is 19044 (E) "Note" means the promissory note signed by Borr(,wcr :md dated October 2004 . The Note states that Borrower owes Lender Nine Hundred Fifty Thousand and 00/100 28, Dollars (U.S. $ 950,000.00 ) plus interest Bo,'rower has promised to pay this debt in regular Periodic Payments and to pay the debt in full 11ol later than November 1, 2034 (F) "Property" means the property that is described bch,w under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, lflUs interest, any prepayment charges and late charges due under the Note, and all sums duc ulldcr this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [chccl box as applicable]: ~X] Adjustable Rate Rider [~] Condominium Rider ~ Second Home Rider [-'--] Balloon Rider [-~ Biweekly Payment Rider [---] 1-4 Family Rider [---] Other(s) [specify] [---] Planned Unit Deveh,lm~cnt Rider (I) "Applicable Law" means all controlling applicable I'cderal, state and local statutes, regulations, ordinances and administrative rules and ordcl-S ~lhal have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Asscssmcnts" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transl'cr or' funds, 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 ,,, as to order, instruct, or authorize a financial institution to debit or credit an account. Such tcm~ includes, but is not limited to, point-of-sale transfers, automated teller machine transact i,,,is, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are ddscribcd in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance pn~cccds paid under the coverages described in Section 5) for: (i) damage to, or destruction ~ff. Iht Property; (ii) condemnation or other taking of all or any part of the Property; (iii) convc3 ',t~cc in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or c, mdition of the Property. I/VYOI~I1NG- Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form GMACM - CMS.0042.WY (0001) (Page 2 of 18) i_ 0572 (N) "Mortgage Insurance" means insurance protecting l.cnder against the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Proccdm'cs Ac~ (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.[:.R. Part 3500), as 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 lnstrumcm, "RESPA" refers to all requirements and restrictions that are imposed in regard to .~ "federally related mortgage loan" even if the Loan does not qualify as a "federally related mtm?gc loan" under RESPA. (Q) "Successor in Interest of Borrower" means an~ party that has taken title to the Property, whether or not that party has assumed Borrower's ,,bligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repay~cm of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perfimn:mcc of Borrower's covenants and agreements under this Security Instrument and the Note. l:or this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as mmfince for Lender and Lender's successors and assigns) and to the successors and assigns t}f MERS, with power of sale, the following described property located in the County' [Type of Recording Jurisdicfim~l : of Lincoln [Name of Recording Jurisdiction] SEE SCHEDULE "A" ATTACHED HERETO AND /dADE A PART HEREOF. which currently has the address of 360 Noble Lane, [StreetI Bedford , Wyoming 8 31 ] 2 ("Property Address"): [City] 17_i? ~ ',,del TOGETHER WITH all the improvements now or hcrc',tftcr erected on the property, and all easements, appurtenances, and fixtures now or hercal'tcr a part of the property. All replacements and additions shall also be covered by thi~ Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Pr~pcrty." Borrower understands and agrees that MERS holds only legal title to the interests grained by Borrower in this Security Instrument, but, if necessary to comply with law or custom, ~I F. RS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell thc Property; and to take any action required of Lender including, but not limited to, rclc:~sing and canceling this Security Instrument. ~¥YOI~.ING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT F ..... toSl I 0,1._./~ kj~~ /~..~ GMACM - CMS.0042.WY (0001) (Page 3 of 18) hfitinls: t',~,~. ~,.., 057 3 BORROWER COVENANTS that Borrower is l:~xx fully seised of the estate hereby conveyed and has the right to mortgage, grant and convc, Ibc Property and that the Property is unencumbered, except for encumbrances of record B~,m)wcr warrants and will defend generally the title to the Property against all claims and dc~:,lds, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unil',.'m covenants for national use and non-uniform covenants with limited variations by jurisdic~i~m ~o constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Itt, ms, l'repayment Charges, and Late Charges. Borrower shall pay when due the principal of, ',md interest on, the debt evidenced by the Note and any prepayment charges and late charges duc m~dcr the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3, Pa3~cnts clue under the Note and this Security Instrument shall be made in U.S. currency. Hoxvcvcr, if any check or other instrument received by Lender as payment under the Note or this Sccurily Instrument is returned to Lender unpaid, Lender may require that any or all subsequent 1~:13 mc,)ts due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution ~x h{~sc deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Tlansfcr. Payments are deemed received by Lender when ~cccivcd at the location designated in the Note or at such other location as may be designated b/ I.cndcr m accordance with the notice provisions in Section 15. Lender may return any payment ,.' p,','tial payment if the payment or partial payments are insufficient to bring the Loan currem, l~cmler may accept any payment or partial payment insufficient to bring the Loan current, with~ml waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial pa3 ~t~cms tn the future, but Lender is not obligated to apply such payments at the time such paying, ms are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lendur nccd not pay interest on unapplied funds, Lender may hold such unapplied funds until Borrt~x~ cr makes payment to bring the Loan current. If Borrower does not do so within a reasonable i)criod of time, Lender shall either apply such funds or return them to Borrower, If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immcdi,,tlcly prior to foreclosure. No offset or claim which Borrower might have now or in the future a?ai ~st Lender shall relieve Borrower from making payments due under the Note and this Sccm'ity Instrument or performing the covenants and agreements secured by this Security Instrumcm 2. Application of Payments or Proceeds. EXCCl)t as otherwise described in this Section 2, all payments accepted and applied by Lender ~hall bc applied in the following order of priority: (a) interest due under the Note; (b) principal d,c trader the Note; (c) amounts due under Section 3. Such payments shall be applied to each I'crit~dic Payment in the order in which it became due. Any remaining amounts shall be applied l'irsl I,, late charges, second to any other amounts due under this Security Instrument, and then t~, :educe the principal balance of the Note. LOAN NO: 573213402 WYOMING - Single Family - Fannie MaelFreddi~ Mac UNIFORM INSTRUMENT Fo,., GMACM - CMS.0042.WY (0001) (Page 4 of 18) hfifi,d,:~ .~,.J/~... ,. If Lender receives a payment from Borrower for' :~ delinquent Periodic Payment which includes a sufficient amount to pay any late charge duc, thc payment may be applied to the delinquent payment and the late charge. If more than ,~' Periodic Payment is outstanding, Lender may apply any payment received from Borrower ~(} the repayment of the Periodic Payments if, and to the extent that, each payment can bc p:fid in lull. To the extent that any excess exists after the payment is applied to the full paymcm ,~l' one or more Periodic Payments, such excess may be applied to any late charges due. \%ltmtary prepayments shall be applied first to any prepayment charges and then as described in thc Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone thc, duc date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall 1~:~.~' lo Lender on the day Periodic Payments are due t/nder the Note, until the Note is paid in l'ull, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessmcnt~ and other items which can attain priority over this Security Instrument as a lien or encumbr:,~cc 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 Insur:mcc premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment ,ff 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 the Lomb, I.cndcr may require that Community Association Dues, Fees and Assessments, if any, be escr{m'cd by Borrower, and such dues, fees, and assessments shall be an Escrow Item. Borrower shall immq, tly furnish to Lender all notices of amounts to be paid under this Section. Borrower slmll pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay Itt, Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender I:tmds for any or all Escrow Items at any time. Any such waiver may only be in writing. In thc event of such waiver, Borrower shall pay directly, when and where payable, the amounts duc l'or any Escrow Items for which payment of Funds has been waived by Lender and, if kcndcr requires, shall furnish to Lender receipts evidencing such payment within such time period ,,~ I.cnder may require. Borrower's obligation to make such payments and to provide receipts sh.,d for all purposes be deemed to be a covenant and agreement contained in this Security Inst~'mncnt, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obli,,.,~tcd to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amounl dtic l'or an Escrow Item, Lender may exemise its rights under Section 9 and pay such amount :md Borrower shall then be obligated under Section 9 to repay to Lender any such amount, kc~dcr may revoke the waiver as to any or all Escrow Items at any time by a notice given in accord',mcc with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and i~ such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Fund.~ m :m amount (a) sufficient to permit Lender to apply the Funds at the time specified under RI~SPA, and (b) not to exceed the maximum amount a lender can require under RESPA. I.cndcr shall estimate the amount of Funds due on the basis of current data and reasonable estimc~tcs of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. LOAN NO: 573213402 GMACM - CMS.0042.WY (0001) (Pase 5 o.1'18) Initial,;:A~ Ik 0575 The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lend~r, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lu~dcr shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA l.cnder shall not charge Borrower for holding and applying the Funds, annually analyzing Ibc escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on ~hc Fuuds and Applicable Law permits Lender to make such a charge. Unless an agreement is nl:~dc in writing or Applicable Law requires interest to be paid on the Funds, Lender shall m~t bc required to pay Borrower any interest or earnings on the Funds. Borrower and Lender c:m agree in writing, however, that interest shall be paid on the Funds. Lender shall g~ve to l/t~rrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance wm~ RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shrill notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 momltl, l~:tyments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lendc~ ~hall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount nc'cuss:try to make up the deficiency in accordance with RESPA, but in no more than 12 monthl) pa) lnCntS. Upon payment in full of all sums secured by thi~ Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all t:lXCS, assessments, charges, fines, and impositions attributable to the Property which can attain p~ority over this Security Instrument, leasehold payments or ground rents on the Property, if an.~, and Conununity Association Dues, Fees, and Assessments, if any. To the extent that these ncm~- are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the i~.,~).mcnt of the obligation secured by the lien in a manner acceptable to Lender, but only so I,mg as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends :tgainst enforcement of the lien in, legal proceedings which in Lender's opinion operate to prcYwnt thc enforcement of the lien while those proceedings are pending, but only until such proccc~dings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to l.cndcr subordinating the lien to this Security Instrument. If Lender determines that any part ~,t' thc Property is subject to a lien which can attain priority over this Security Instrument, l.cndcr may give Borrower a notice identifying the lien. Within 10 days of the date on which thai notice ~s given, Borrower shall satisfy the lien or take one or more of the actions set forth ;~l~t~x c in this Section 4. Lender may require Borrower to pay a one-time ch:H'gc for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep thc 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 uot limited to, earthquakes and floods, for which Lender requires insurance. This insurano. shall be maintained in the amounts WYOI¥1'IN{~ - single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form.mSi I'{)1 GMACM- CMS.0042.WY (0001) (Page 6 of 18) · ' 0576 (including deductible levels) and for the periods that kcmlcr requires. What Lender requires pursuant to the preceding sentences can change ifluring thc term of the Loan. The insurance carrier providing the insurance shall be chosen by B~rmvcr subjeci to Lender's right to disapprove Borrower's choice, which right shall not bc 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 d~) a one-time charge for flood zone determination and certification services and subsequent ch:trgcs each time remappings or similar changes occur which reasonably might affect such determin',ttion or certification. Borrower shall also be responsible for the payment of any fees imposed by thc Federal Emergency Management Agency in connection with the review of any flood /,mc 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 c×l)cnsc. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Bot'rmvcr'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 ackn,~wlcdgcs that the cost of the insurance coverage so obtained might significantly exceed the cost ~1' inst, rance 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 ',mlotmt$ 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 rc~tcwals 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 the policies and renewal certificates. If Lender rCtlttircs, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices If Borrower obtains any form of insurance coverage, not otherwise required by Lender, l',~r damage to, or destruction of, the Property, such policy shall include a standard mortg:~gc clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give proml)t notice to the insurance carrier and Lender. Lender may make proof of loss if not made prtmtl~tly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance pn,cccds, whether or not the underlying insurance was required by Lender, shall be applied to resl,~ralion or repair of the Property, if the restoration or repair is economically feasible and Lender'., ~ccurity is not lessened. During such repair and restoration period, Lender shall have the righl t,~ hold such insurance 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 lie 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 ',m agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, LOAN NO: 573213402 ~I{'OM][NG-SingIeFamiIy-FannitMae/FreddieMacUNIFORMINSTRUMENT F, ..... ,iiSI l,'Ol(,~/p GMACM - CMS.0042.WY (0001) (Page 7of18) Initials: 0577 or other third parties, retained by Borrower shall not bc p;lid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restorati~m ~r repair is not economically feasible or Lender's security would be lessened, the insurance lm~cccds shall l~e applied to the sums secured by this Security Instrument, whether or not then title, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in thc {~rdcr provided for in Section 2. If Borrower abandons the Property, Lender ma3' tile, negotiate and settle any available insurance claim and related matters. If Borrower does n,~t respond within 30 days to a notice from Lender that the insurance carrier has offered to settle ,, claim, then Lender may negotiate and settle the claim. The 30-day period will begin when thc. nt)m:t2 is given. In either event, or if Lender acquires the Property under Section 22 or t~d~crwise. Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in .,m amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (bi :t~]), other of Borrower's rights (other than the right to any refund of unearned premiums fi, mi by Borrower) under all insurance policies covering the Property, insofar as such rights a~c applicable to the coverage of the Property. Lender may use the insurance proceeds either t,~ 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, establi,h, m~tl use the Property as Borrower's principal residence within 60 days after the execution ~ this Security Instrument and shall continue to occupy the Property as Borrower's principal rc~itlcnce lbr at least one year after the date of occupancy, unless Lender otherwise agrees in xx dting, which consent shall not be unreasonably withheld, or unless extenuating circumstances cx~st which are beyond Borrower's control. 7. Preservation, Maintenance and Protectim~ or the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrowcl is residing in the Property, Borrower shall maintain the Property in order to prevent the Propct't.x from deteriorating or decreasing in value due to its condition. Unless it is determined lmrSuant to Section 5 that repair or restoration is not economically feasible, Borrower shall pt',,a~pdy repair the Property if damaged to avoid further deterioration or damage. If insurance t~r ctmdcmnation proceeds are paid in connection with damage to, or the taking of, the Propcrt.~, 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 insurzmcc or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not ~clicved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries tll~m and inspections of the Property. If it has reasonable cause, Lender may inspect the interior ~1' thc tmprovements on the Property. Lender shall give Borrower notice at the time of or [~d~r to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower ~hcdl be in default if, during the Loan application process, Borrower or any persons or entities acttng at the direction of Borrower or with Borrower's knowledge or consent gave materiall,, false, misleading, or inaccurate information or statements to Lender (or failed to provide Icndcr with material information) in WYOMING - Single Family- Fannie Ma~/Fr~die Mac UNIFORM INSTRUMENT From .mSI 1,111~. /'J' t'~ GMACM - CMS.0042.WY (0001) (Page 8 oflS) lnilials 05'78 connection with the Loan. Material representation~ ~clt:dc, but ar~ not limited to, representations concerning Borrower's occupancy of ~1~, 15't~pcrty as Borrower's principal residence. 9. Protection of Lender's Interest in the Propt.rl) and Rights Under this Security Instrument. If (a) Borrower fails to perform the covc~:,~, :md agreements contained in this Security Instrument, (b) there is a legal proceeding th. ~d~ht significantly affect Lender's interest in the Property and/or rights under this Securilx I~qrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, roi'. ~,, c-cmcnt of a lien which may attain priority over this Security Instrument or to enforce lax~s ~,, regulations), or. (c) Borrower has abandoned the Property, then Lender may do and pay fi~ .~l~:tlc\,cr is reasonable or appropriate to protect Lender's interest in the Property and rights tmtlt ihis Security Instrument, including protecting and/or assessing the value of the ProperLy, :,~,1 securing and/or repairing the Property. Lender's actions can include, but are not limiwd ~,, (a) paying any sums secured by a lien which has priority over this Security Instrument; d, :tl~pcaring in court; and (c) paying reasonable attorneys' fees to protect its interest in the Pr,,I ~.t~. and/or rights under this Security Instrument, including its secured position in a bankrupl% im~cccding. Securing the Property includes, but is not limited to, entering the Property to ,, .d c repairs, change locks, replace or board up doors and windows, drain water from pipe- diminate building or other code violations or dangerous conditions, and have utilities ttm ct on or off. Although Lender may take action under this Section 9, Lender does not have ~ d,~ s~ and is not under any duty or obligation to do so. It is agreed that Lender incurs no lial,il~l> for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Sect ..... v shall become additional debt of Borrower secured by this Security Instrument. These an~,,~ts shall bear interest at the Note rate from the date of disbursement and shall be payable, with st:ch interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, I~,trt~wcr shall comply with all the provisions of the lease. If Borrower acquires fee title to i I~c Prt~pcrty, the leasehold and the fee title shall not merge unless Lender agrees to the merger in x~,,iting. 10. Mortgage Insurance. If Lender required ~l,,~tg;tge Insurance as a condition of making the Loan, Borrower shall pay the premiums reqt, i~.,I ~,> maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance ct~x c~ a~,.c required by Lender ceases to be available from the mortgage insurer that previously prm i,k.d st~ch insurance and Borrower was required to make separately designated payments toward ~l~c premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain c,,xct,t~c substantially equivalent to the Mortgage Insurance previously in effect, at a cost .~td,.,t:mlially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, I'r,,m an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage I~,~urauce coverage is not available, Borrower shall continue to pay to Lender the amount of tire' ~clmratcly designated payments that were due when the insurance coverage ceased to be in efft.,'~, l~cmlcr will accept, use and retain these payments as a non-refundable loss reserve in lict~ ,,1' Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact tl~at thc Ltmn is ultimately paid in full, and Lender shall not be required to pay Borrower any im~.~.st ~- earnings on such loss reserve. Lender can no longer require loss reserve payments il' ~l,,~lgagc Insurance coverage (in the LOAN NO: 573213402 · GMACM - CMS.0042.WY (0001) (Page 9 ofl8) Imlials:_c"ffZ;(~,.. 0579 amount and for the period that Lender requires) provided b3 ~ll! insurer selected by Lender again becomes available, is obtained, and Lender requires sep'~.-alcly designated payments toward the premiums for Mortgage Insurance. If Lender required M,,l'tgage Insurance as a condition of making the Loan and Borrower was required to make SCl)',tralcly designated payments toward the premiums for Mortgage Insurance, Borrower shall pa3 Iht premiums required to maintain Mortgage Insurance in effect, or to provide a non-refu.dablc loss reserve, until the Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such terminatiol~ ~.- until termination is required by Applicable Law. Nothing in this Section I0 affects Borr,~wcr's obligation to pay interest at the rate provided in the Note, Mortgage Insurance reimburses Lender (or a~), cmay that purchases the Note) for certain losses it may incur if Borrower does not repay thc. Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time. and may enter into agreements with other parties th:. share or modify their risk, or reduce losses, These agreements are on terms and conditions that arc satisfactory to the mortgage insurer and the other party (or parties) to these agreemc~.~. These agreements may require the mortgage insurer to make payments using any source ,,l' fimtls that the mortgage insurer may have available (which may include funds obtained from rxl,.'tgagc Insurance premiums). As a result of these agreements, Lender, any l~t. chascr of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any o~ tl~c foregoing, may receive (directly or indirectly) amounts that derive from (or might be cha~'.ctcrizcd as) a portion of Borrower's payments for Mortgage Insurance, in exchange for shari~l,: ,.' modifying the mortgage insurer's risk, or reducing losses. If such agreement provides tha~ ~t~ affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premium~ l,zdd to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the :lll..ll.S that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Illsurance, and they will not entitle Borrower to any refund. Co) Any such agreements will not affect the i'ights Borrower has - if any - with respect to the Mortgage Insurance under the Homeo~.er.~ l'rotection Act of 1998 or any other law. These rights may include the right to recei~ t, certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have Iht Mortgage Insurance terminated automatically, and/or to receive a refund of any Morlgage Insurance premiums that were unearned at the time of such cancellation or terminatio.. 11. Assignment of Miscellaneous Proceeds; t'orfeitnre. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT F~,s..:~51 l,Os~ ~ ~ ~_~..~~ GMACM - CMS.0042.WY (0001) (Page 10 of 18) l.ifial 09042S3 055'0 If the Property is damaged, such Miscellaneou, I'mcccds shall be applied to restoration or repair of the Property, if the restoration or repair ~ ccononfically feasible and Lender's security is not lessened. During such repair and restoral~m period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has tad all opportunity to inspect such Property to ensure the work has been completed to Lcttdcr's satisfaction, provided that such inspection shall be undertaken promptly. Lender ma), P:h~ rot the repairs and restoration in a single disbursement or in a series of progress payments ,~ the work is completed. Unless an agreement is made in writing or Applicable Law ~c~tiircs interest to be paid on such Miscellaneous Proceeds, Lender shall not be required tt~ p:~y 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 thca duc, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applier t~ thc order provided for in Section 2. In the event of a total taking, destruction, ~r lass 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 B,~m~wer. In the event of a partial taking, destruction, or h,ss in value of the Property in which the fair market value of the Property immediately betbrc thc partial taking, destruction, or loss in value is equal to or greater than the amount of the smnh secured by this Security Instrument immediately before the partial taking, destruction, or loss n value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Securit5 Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the ~,llowing fraction: (a) the total amount of the sums secured immediately before the partial takint~, dcm'uction, or loss in value divided by (b) the fair market value of the Property immediately hcl'orc the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or h~ss in value of the Property in which the fair market value of the Property immediately before thc 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 I.cmlcr otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums securer hy fids Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or il'. al'tot 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 Lendc~ wilhin 30 days after the date the notice is given, Lender is authorized to collect and apply thc 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 pz~rty flint owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right t~l' action in regard to Miscellaneous Proceeds. LOAN NO: 573213402 VJ,~OIVIING - SinEIc FanfiIy- Fannic Mae/Freddie Mac UNIFORM INSTRUM£NT } ...... ~o51 GMACM - CMS.0042.WY (0001) (Page 11 of IS) Initials: Borrower shall be in default if any action or pr~'~'cding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfcitm-c of the Property or other material impairment of Lender's interest in the Property or righls under this' Security Instrument. Borrower can cure such a default and, if acceleration h',~s t~ccurrcd, 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 m~lt,~ial 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 in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied t~, rcstt~ration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By [.t,mlcr Not a Waiver. Extension of the time for payment or modification of amortization ~f thc stuns secured by this Security Instrument granted by Lender to Borrower or any Succc~s,,r in lnterest of Borrower shall not operate to release the liability of Borrower or any Succcss,~rs in Interest of Borrower. Lender shall not be required to commence proceedings against an5 Nucccssor in Interest of Borrower or to refuse to extend time for payment or otherwise modify :t~nortization 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 b) l~cnder in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts lc.ss than the amount then due, shall not be a waiver of or preclude the exercise of any right or r~'mcdy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligali~ms and liability shall be joint and several. However, any Borrower who co-signs this Securit5 h~strument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instmtncnt only to mortgage, grant and convey the co-signer's interest in the Property under the tc~ ms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Sc~m'ity Instrument; .and (c) agrees that Lender and any other Borrower can agree to extcml, modify, forbear or make any accommodations with regard to the terms of this Securit5 Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Suc~'cssor in Interest of Borrower who assumes Borrower's obligations under this Security Instl't~nc~t 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 obligatitms and liability under this Security Instrument unless Lender agrees to such release in writing. Thc covenants and agreements of this Security Instrument shall bind (except as provided in Suction 20) and benefit the successors and assigns of Lender. WYOMING - Single Famil~ - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form .Itl51 I '01 ~p~ GMACM - CMS.0042.WY (0001) (Page 12 of 18) hlilials: ~/~ 14. Loan Charges. Lender may,charge Bor,'~x~cr fees for services performed in connection with Borrower's default, for the pui'pose t,t' protecting Lender's interest in the Property and rights under this Security Instrument, includit~g, but not limi(ed to, attorneys' fees, property inspection and valuation fees. In regard to a~, other l~ees, the absence of express authority in this Security Instrument to charge a specific f~,c ,) Borrower shall not be construed as a prohibition on the charging of such fee. Lender re:t,, ~ot charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximu, h~an charges, and that law is finally interpreted so that the interest or other loan charges collcclcd or to be collected in connection with the Loan exceed the permitted limits, then: (a) any st~cl~ loan charge shall be reduced by the amount necessary to reduce the charge to the permitted li~a~il; and (b) any sums already collected from Borrower which exceeded permitted limits will bc roi'traded 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. If a refund reduces principal, thc reduction will be treated as a partial prepayment without any prepayment charge (whether or ~,,~ a prepayment charge is provided for under the Note). Borrower's acceptance of any such ~'cl'und made by direct payment to Borrower will constitute a waiver of any right of action B,,rr,~wc; m~ght have arising out of such overcharge. 15. Notices. All Notices given by Borrower ,,r Lender in connection with this Security Instrument must be in writing. Any notice to Bo~'t',~xx c,- in connection with this Security Instrument shall be deemed to have been given to Borrow~ ~' when mailed by first class mail or when actually delivered to Borrower's notice address if sc~t by tither means. Notice to any one Borrower shall constitute notice to all Borrowers unless Apl)licable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrox~'c~ shall promptly notify Lender of Borrower's change of address. If Lender specifies a proccdt}rc tbr reporting Borrower's change of address, then Borrower shall only report a change or' 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 b3 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 $ccu,'ity lnstrun~ent shall not be deemed to have been given to Lender until actually received by l.c~tdcr. If any notice required by this Security Instrument is also required under Applicable Lax~. thc Applicable Law requirement will satisfy the corresponding requirement under this Security h~:,t rtlment. 16. Governing Law; Severability; Rules of Consl,'uction. This Security Instrument shall be governed by federal law and the law of the jurisdicli,~ in which the Property is located. All rights and obligations contained in this Security lnstrtt~cm are subject to any requirements and limitations of Applicable Law. Applicable Law mi~ht explicitly or implicitly allow the parties to agree by contract or it might be silent, but stroh silc~c¢ shall not be construed as a 552 LOAN NO: 573213402 WYOM~IN(~ - Singl~ Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT GMACM - CMS.0042.WY (0001) (Page 13 of 18) ( 0,5='8 3 prohibition against agreement by contract. In the event that any pr6vision 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 Not( ix hich can be given effect without the conflicting provision. As used in this Security Instrument: (a) words (~r thc masculine gender shall mean and include corresponding neuter words or words of the femiuiuc gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) Ih( word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be givc~ on( copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial hilt.rcs! in Borrower. As used in this Section 18, "Interest in the Property" means any legal ~,r hcneficial interest in the Property, including, but not limited to, those beneficial interests tr',t~lsfcrred iu a bond for deed, contract for deed, installment sales contract or escrow agreement, thc inlent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Properly or any Interest i~ thc Property is sold or transferred (or if Borrower is not a natural person and a benefMal interest in Borrower is sold or transferred) 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 prohibited by Applicable Law. If Lender exercises this option, Lender shall give llorroxver notice of acceleration. The notice shall provide a period of not less than 30 days l'rom the date the notice is given in accordance with Section 15 within which Borrower must p'ay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to Ih( expiration of this period, Lender may invoke any remedies permitted by this Security Instrm ncnt without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acer'Ir'ration. If Borrower meets certain conditions, Borrower shall have the right to have enf,,rccment of this Security Instrument discontinued at any time prior to the earliest of: (a) l'ivc days before sale of the Property pursuant to any power of sale contained in this Security I~strument; (b) such other period as Applicable Law might specify for the termination of Bormx~cr's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those (traditions are that Borrower: (a) pays Lender all sums which then would be due under this Sucu~ity 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 Instrtm~cnt, iucluding, but not limited to, reasonable attorneys' fees, property inspection and valuat i t,n fees, and other fees incurred for the purpose of protecting Lender's interest in the Properly and rights uuder this Security Instrument; and (d) takes such action as Lender may reasonably require tu assttrc that Lender's interest in the Property and rights under this Security Instrument, and B,,n'owcr's obligation to pay the sums secured by this Security Instrument, shall continue tu~chaugcd. Lender may require that Borrower pay such reinstatement sums and expenses in tm( or ,note 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 ul,,m an institution whose deposits are insured by a federal agency, instrumentality or entity; {~r (d) Electronic Funds Transfer. WYOMING - Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Fo, ,,, 11151 1/01~,~, ~,~ /~ GMACM - CMS.0042.WY (0001) (Page 14 o/J8) h,, ,alsFg {C- 0 042S Upon reinstatement by Borrower, this Security Instrumcm and obligations secured hereby shall remain fully effective as if no acceleration had occurred. Ih~wcver, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; N.lice ol' Grievance. The Note or a partial interest in the Note (together with this Security hl~trmnent) can be sold one or more times without prior notice to Borrower. A sale might rcsl~l~ Il/ ;.I change in the entity (known as the "Loan Servicer") that collects Periodic Payments chic m~dcr the Note and this Security Instrument and performs other mortgage loan servicing obli gat ions under the Note, this Security Instrument, and Applicable Law. There also might be one ,,~' mo,'e changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of Ibc l.oan 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 :md auy other information RESPA requires in connection with a notice of transfer of servicm?.. It' the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purcl~ascr of the Note, the mortgage loan servicing obligations to Borrower will remain with thc I.,,an Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note lmrchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, jt,m. t~r be joined to any judicial action (as either an individual litigant or the member of a class, thal arises from the other party's actions pursuant to this Security Instrument or that allegc~ that thc 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 givell m Ct/lnpliance with the requirements of Section 15) of such alleged breach and afforded the t~lhcr 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 takc~l, that time period will be deemed to be reasonable for purposes of this paragraph. The notice t,l' acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice ,,l' acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Sccli,~a 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous sial,stances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, x'~k~tilc solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "D~vironmental Law" means federal laws and laws of the jurisdiction where the Property is h,catcd that relate to health, safety or environmental protection; (c) "Environmental Cleanup" ii,eludes any response action, remedial action, or removal action, as defined in Environment:~l I.aw; and (d) an "Environmental Condition" means a condition that can cause, contril,mc to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, nsc, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardtms Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anythit~g affecting the Property (a) that is in violation of any Environmental Law, (b) which creates a~ Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that LOAN NO: 573213402 WYOMING - Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT GMACM - CMS.0042.WY (0001) (Page 15 of 18) ,. 0585 adversely affects the value of the Property. The preceding two sentences Shall not apply to the presence, use, or storage on the Property of small quan~i~icN t)l' Itazardous Substances that are generally recognized to be appropriate to normal residcmi',d uses and tO maintenance of the Property (including, but not limited to, hazardous substances ia consumer products). Borrower shall promptly give Lender written n{,licc of (a) any investigation, claim, demand, lawsuit or other action by any governmental ~,r regulatory agency or private party involving the Property and any Hazardous Substance or F-~x irtmmcntal Law of which Borrower has actual knowledge, (b) any Environmental Conditi~m, including but not limited to, any spilling, leaking, discharge, release or threat of release of any I hlzardous Substance, and (c) any condition caused by the presence, use or release of a l l:~/;~rdous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any rcmt~vat or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmcm;d l.aw. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower anti l.cmlcr further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall gi~t, 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 tmlcss Applicable Law provides otherwise). The notice shall specify: (a) the default; (Il) the action required to cure the default; (c) a date, not less than 30 days from the date lhe notice is given to Borrower, by which the default must be cured; and (d) that failure Ill cure the default on or before the date specified in the notice may result in acceleration ~ll' the sums secured by this Security Instrument and sale of the Property. The notice shall hn't her 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 Borrm~cr to acceleration and sale. If the default is not cured on or before the date specified in tilt, notice, Lender at its option may require immediate payment in full of all sums secured b.~ ~his Security Instrument without further demand and may invoke the power of sale and :my 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 md 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 Pr.llurty, if different, in accordance with Applicable Law. Lender shall give notice of thc sale to Borrower in the manner provided in Section 15. Lender shall publish the notice o~' sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lemh,r m' its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, rcasmmble attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) an) excess to the person or persons legally entitled to it. WYOMING - Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form ~t151 GMACM- CMS.0042.WY (0001) (Page 16 of 18) hdd~d~: '-. 0,586 23. Release. UPon payment of all sums secured ~, [his Security Instrument, Lender shall release this Security Instrument. Borrower shall p,~) :.~) recordation costs. Lender may charge Borrower a fee for releasing this Security InstrulnL.~ ~,t~t only if the fee is paid to a third party for services rendered and the charging of the fee is l~c.~s~lillcd under Applicable Law. 24, Waivers. Borrower releases and waives ~,II ~ighls under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and :,k, rccs to the terms and covenants contained in this Security Instrument and in any Rider cxcct~tcd by Borrower and recorded with it. (Seal) -Borrower RoDerEa Le~ RocKere±ler (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower LOAN NO: 573213402 Witnesses: WYOIVIlNG - Single Far. ail), - Fannie Mae/Freddic Mac UNIFORM INSTRUMENT I',. ,~- I ti[ GMACM - CMS.0042.WY (0fl01) (Page 17 of 18) 0587 INDIVIDUAL ACKN. OWL 1,2 I)GMENT STATE OF WYOMING, ) } SS COUNTY OF The foregoing instrument was acknowledged befi-~,'c nc this October 28. 2004 by Peter J. Edington and Roberta Lee Rockefeller, husband and wife My Commission Expires: (person acknowledging ~ Notar~blic w GMACM - CMS.0042.WY (0001) (Page 18 of IS) t,filials: 09042S8 0583 Schedule A Wyoming Mortgage Given By: Peter J. Edington and Roberta Lee I~ockefeller Page 1 See Attached Exhibit "A" Parcel 1 S~NW~/dXIW~ of Section 11, T33N Rll;;W of the 6th P.M., Lincoln County, Wyoming, being part of L. liat tract of record in the Office of the Clerk of Lincoln Coklnty in Book 276PR on page 69. Parcel 2 The right of access as provided for in instrument recorded June 1, 2000 in Book 446PR on page 377 of the records of the Lincoln County Clerk. The right of access as provided fo]_' in instrument recorded May 8, 2001 in Book 465PR on page 10 ©~ the records of the Lincoln County Clerk."'- .... 0:9042 kl '-;-0589 FIXED/ADJUSTABLE RATE RIDER (LIBOR One-Year Index (As Published In The Wall Street Journal) - Rate Caps) THIS FIXED/ADJUSTABLE RATE RIDER is made this 28th day of October , 2004 , m~tl is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed ol '['rust, or Security Deed (the "Security Instrument") of the same date given by the undersigncc t"Borrower") to secure Borrower's Fixed/Adjustable Rate Note (the "Note") to GMAC Mortgage Corp~,~'~trion ("Lender") of the same date and covering the property described in the Security Instrument and located at: 360 Noble Lane Bedford, WY 83]'12 [Property Address/ THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT BOI~R()WER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ()NE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to thc covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY 1'.\ Y 51ENT CHANGES The Note provides for an initial fixed interest rate of 5. 250 %. The Note also provides for a change in the initial fixct ,'ate lo an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND NI()N'I'tlLY PAYMENT CHANGES (A) Change Dates The initial fixed interest rate I will pay will ch:m~c to an adjustable interest rate on the first day of November , 2009 , and thc adjustable interest rate I will pay many change on that day every 12th month thereafter. Thc date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change, is called a "Change Date." LOAN NO: 573213402 MULTISTATE FIXED/ADJUSTABLE RATE RIDER WSJ One-Year LIBOR Single Family - Fannie Ma~ UNtFORM ~N~RUMENT Form 3187 6/01 (Page 1 of 5) 271152673 ~ ~ GMACM-CRM. 1380 (0204) Initials:~ 055O (B) The Index Beginning with the first Change Date, my adjust:tblc interest rate will be based on an Index. The "Index" is the average of interbank t~l'l'crcd rates for one-year U.S. dollar-denominated deposits in the London market ("L1B()R .), tls published in The Wall Street Journal. The most recent Index figure available as of tlalc .15 clays before each Change Date is called the "Current Index·" If the Index is no longer available, the Note Ht~ldcr will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder ~vi[ calculate my new interest rate by adding Two and 75/100 percentage points ( 2. 750 %) tO the Currcm Index. The Note Holder will then round the result of this addition to the nearest one-eighlh of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rt~t~mlcd amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount t,l' thc monthly payment that would be sufficient to repay the unpaid principal that I am expected t. t~wc at the Change Date in full on the Maturity Date at my new interest rate in substantiall, equal payments. The result of this calculation will be the new amount of my monthly payment (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first ('h:tnge Date will not be greater than 10. 250 % or less than 2.75o %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than two percentage points from the rate of interest I have been paying l'or the preceding 12 months. My interest rate will never be greater than 10.250 ~ 0g) Effective Date of Changes My new interest rate will become effective on cad Change Date. I will pay the amount of my new monthly payment beginning on the first monthl3 payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a m,ticc t~f any changes in my initial fixed interest rate to an adjustable interest rate and of any chang~.~ in my adjustable interest rate before the effective date of any change. The notice will include thc amount of my monthly payment, any information required by law to be given to me and al~t~ thc title and telephone number of a person.who will answer any question I may have regarding thc notice. LOAN NO: 573213402 MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One Yt.i~,' t.tlIOR -- si.gle Family -Fannie Mae UNIFORM INSTRUMENT Form 3187 6/01 GMACM-CRM.1380 (0204) (Page2of 5) Initials: ~J{)~ ~ · ~ ~, x~[~..,.., '.-.' 0591 B. TRANSFER OF THE PROPERTY OR A BENEFI( '1 .Xl. INTEREST IN BORROWER 1. Until Borrower's initial fixed interest rate ch;rages to an adjustable interest rate under the terms stated in Section A above, Uniform C,~xcmmt 18 of the Security Instrument shall read as follows: Transfer of the Property or a Beneficial Inlcrcsl in Borrower. As used in this Section 18, "Interest in the Property" means any legal ,~r beneficial interest in the Property, including, but not limited to, those beneficial interests tr:m~lk:rrcd in a bond for deed, contract for deed, installment sales contract or escrow agreement thc 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 thc Property is sold or transferred (or if Borrower is not a natural person and a benefici.,d interest in Borrower is sold or transferred) without Lender's prior written consent, Len&.r 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 prohibited by Applicable Law. If Lender exercises this option, Lender shall give llorrmver notice of acceleration. The notice shall provide a period of not less than 30 da),., ~',m~ tile date the notice is given in accordance with Section 15 within which Borrower musi 1~% all sums secured by this Security Instrument. If Borrower fails to pay these sums prior t,~ Ibc expiration of this period, Lender may invoke any remedies permitted by this Security Instl-mt~cnt without further notice or demand on Borrower. 2. When Borrower's initial fixed interest rate ch:rages to an adjustable interest rate under the terms stated in Section A above, Uniform C,~xcn~int 18 of the Security Instrument described in Section BI above shall then cease to be in cfi'cot, and the provisions of Uniform Covenant 18 of the Security Instrument shall be amended t~, read as follows: Transfer of the Property or a Beneficial Intcrcs! in Borrower. As used in this Section 18, "Interest in the Property" means any legal m beneficial interest in the Property, including, but not limited to, those beneficial interests trml~l'crred in a bond for deed, contract for deed, installment sales contract or escrow agreement, thc intent of which is the transfer of title by Borrower at a future date to a purchaser. LOAN NO: 573213402 MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One Ycm I.IIIOR -- Single Family -'Fannie Mae ~ UNIFORM INSTRUMENT Form :}187 6/01 i~,,~_~.~ '~ GMACM-CRM.1380 (0204) (Page 3 of 5) Initials: If all or any part of the Property or any Interest il~ thc Property is sold or transferred (or if Borrower is not a natural person and a beneFici:d interest in Borrower is sold 'or transferred) without Lender's prior written consent, Lend~.,' nmy require immediate payment in full of all sums secured by this Security Instrument. Hoxvux ~'r, this option shall not be exercised by Lender if such exercise is prohibited by Applicable L;~x~. l.cnder also shall not exercise this option if: (a) Borrower causes to be submitted to Lendc,' inlk'>l'mation required by Lender to evaluate the intended transferee as if a new loan were I,~.i~g naade to the transferee; and (b) Lender reasonably determines that Lender's security will n,,t bc impaired by the loan assumption and that the risk of a breach of any covenant or agrcc~,~cm in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lcnd~·F may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lc))dcF may also require the transferee to sign an assumption agreement that is acceptable to Lender ;tnd that obligates the transferee to keep all the promises and agreements made in the N~,tc and in this Security Instrument. Borrower will continue to be obligated under the Note :,nt this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immedimc' p;lylnent in full, Lender shall give Borrower notice of acceleration. The notice shall provide ,, l~criod of not less than 30 days from the date the notice is given in accordance with Section 15 wilhin which Borrower must pay all sums secured by this Security Instrument. If Borrower I',H ~ ~o pay these sums prior to the expiration of this period, Lender may invoke any remedic.~ [,cl'liiittcd by this Security Instrument without further notice or demand on Borrower. THIS SPACE LEFF INTENTION.% I. I. ~,' B LANK LOAN NO: 573213402 MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One 5'c;~ r I.IIIOR -- Single Family--Famlje Mae UNIFORM INSTRUMENT Form 3187 6/01 GMACM-CRM.1380 (0204) (Page 4 of 5) Initials..[ atx f BY SIGNING BELOW, Borrower accepts and agrees t~ thc tc,'ms and covenants contained in this Fixed/Adjustable Rate Rider. Pe~er~/Ed~ngton ~eaO -Borrower Roberta Lee Rockefell~,~'/ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower LOAN NO: 573213402 MULTISTATE FIXED/ADJUSTABLE RATE RIDER- WSJ One Yc;~r 1.1BOR -- Single Family l--F~e Mae UNIFORM INSTRUMENT Form 3187 6/01 GMACM-CRM.1380 [0204) (Page 5 of 5)