HomeMy WebLinkAbout904301l: -:-.'::' :!:1
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.... t.,OU~]TY CLERK
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904301
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[Space Above This Line For Recm-(ling Data]
MORTGAGE
THIS MORTGAGE ("Security Instrument") is given on. ).0./.1.8./.04 ...............................The mortgagor is
.4Q~.N. ~.....~.0.s. As..~. ~. 0..~J.~.kE. E..~..R.0.S.~.S.,..H.U.S.8.AN~.. ~..~0..~.I.F.~. .............................................................
..................................................................................................... ("Borrower").
This Security InsLrument is given to Wells Fargo Financial Wyoming Inc., which is organized and existing under the laws of
Wyoming, and whose address is ..... 7.4.4.1..F. 0..0.f.~.tLL .~.L..V.D,. !2.4.3. ......................................................
.R. 0.6. ~. $ .P.R.I .N.6.S.,..~.¥ ..... .8.2.9.0.] ............................................................................. ("Lender").
Borrower owes Lender the principal sum ofF. .I F..f.Y..S.I.X..I.H.O.U.SAN. q .F..0.U.R..HU>4DG[::D. F.I.F.T.~..F..0.U.R..D. qL.L..~.R$..&N.q .I.U.R.[.[..E.[.N.'[$...
............................................ Dollars (U.S. $. 5.6.4.5.4, .0.3 .... ). This debt is evidenced by Borrower's note
dated the same date as this Security Instrument ("Note"), which provides f',~r monthly payments, with the full debt, if not paid
earlier, due and payable on.. ] 0./.2.2/.1.1 ........................................ This Security Instrument secures to Lender:
(a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the
Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security
Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note.
For this purpose, Borrower does hereby mortgage, grant and convey to l.cndcr, with power of sale, the following described
property located in .......... .L.I. NC. 0..L.N ........... County, Wyoming:
THE BESGRIPTION OF THE PROPERTY IS 0N A SEPARATE FORM ATTACHED T0 THIS
I40RTGAGE / 0EEB OF TRUSl, ifltI~H BE$CRI?TION IS PAI3T OF THIS MOBTf^~F
/ DEE0 OF TRUST.
which has the address of 20 LITTLE CANYON ROAD DI AMONDVILLE
.................... - .... i~i] ........................ ' ~c~/] "
Wyoming .......... 8.3.!! .6 ............ ("Property Address");
[Zip Code]
TOGETHER WITH all the improvements now or hereafter erected ~)n It~e 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 thc "Property."
BORROWER COVENANTS that Borrower is lawfully seised of thc estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is troche,inhered, 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.
-~a~je 'I of B WY-20404:)904
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform Covenants with
limited variations by jurisdiction t° constitute a uniform security instrumenl covering reai property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: '
I. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shali promptly pay when due the
principal of and interest on the debt evidenced by the Note and any preps )'m,'n t and late charges due under the Note.
2. Funds for Taxes and Insurance. If requested by Lender in writing, and subject to applicable law, Borrower shall
pay to Lender on the day monthly payments are due under the Note, until thc Note is paid in full, a sm ("Funds") for: (a)
yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly
leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly
flood insurance premiums, if any; (e) yearly, mortgage insurance premiums, il' any; and (f) any sums payable by Borrower
Lender, in adc0rdance With the provisions' of paragraph 8, in lieu of thc payment of mortgage insurance premiums. Th~e
items are called "Escrow Items." ,Lender may, at any time, collect and hold IVtmds in an amount not to exceed the'maximum
amount a lender for a federally related mortgage loan may require for Bt~rrower's escrow accoUnt under the federal Real
Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. § 2601 et seq. ("RESPA"), unless another
law that applies to the Funds sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to
exceed the lesser amount. Lender may estimate the amount of Funds due on tile basis 'of current data and re'asonable estimates
of expenditures of future Escrow Items or otherwise in accordance with applicable law. ' '
The FUnds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
(including Lender, if Lender is such an institution) or in any Federal Holm; Loan Bank. Lender shall apply the Funds to pay
the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing thc escrow
account, or verifying the Escrow Items, unless Lender pays Borrower i~m~rcst on the Funds and applicable law permits
Lender to make such a charge. However, Lender may require Borrower to pay a one-time charge for an independent real
estate tax reporting service used by Lender in connection with this loan, ulllt, ss applicable law provides otherwise. Unless an
agreement is made or applicable law reqnires_inte~rest tO be paid, Lender sim II m~t be required tO pay Borrower'any interest or
earnings on the Funds. Borrower and Lender may agree in writing, howeYer, that interest shall be ·paid on the Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds, strawing credits and debits to the FUnds and the
purpose for which each debit to the Funds was made. The Funds are pledged as additional security for all sums secured by
this Security Instrument.
If the Funds held by Lender exceed the amounts permitted to bc heJd by applicable law, Lender shall account to
Borrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by
Lender at any time is not sufficient to pay the Escrow Items when due, lxmdcr may so notify Borrower in writing, and, in
such case Borrower shall pay to Lender the amount necessary to make up the deficiency. BorrOWer shall make up the
deficiency in no more than twelve monthly payments, at Lender's sole discretion.
Upon payment in full of all sums secured by this Security Instrumtml, Lender shall promptly refund to Borrower any
Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell thc Property, Lender, prior to the acquisition or
sale of the Property, shall apply any Funds held by Lender at the time of acquisitiog or sale as a credit against the sums
secured by this Securitylnstrument.' ....... ; ......... .
' 3. 'Xi~piieakibn of'paymeni~. Ufil'~s:'apPlicable law' proVides othtq~vise, all paymefits ieceiSed by Lender under.
paragraphs 1 and 2 shall be applied: first, to any prepayment charges duc under the Note; second, to amoUnts payable if any
under paragraph 2; third, to interest due; fourth, to principal due; and last, t. any late charges due under the Note.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. If
applicable Borrower shall pay these obligations in the manner provided i, paragraph 2, or if not paid in that manner,
Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices
of amounts_ tO. be paid under, this paragraph. If Borrower makes these paymc, ts directly, Borrower shall promptly furnish to
Lender receipts evidencing the payments.
Borrower shall promptly discharge any lien which has priority ow'r this Security Instrument unless Borrower: (a)
agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good
faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
prevent the enforcement of the lien; or (c) secures from the holder o1' the lien an agreement satisfactory to Lender
subordinating the lien to this Security Instrument. If Lender determines th,t any part of the Property is subject to a lien which
may a, ttain priority.qver Qfis S~curity Instrument, Lender may give Borrower a notice identifying ithe.lien. Borrower shall
satisfylthe, lien Or thke.onc~ brlmoi6 of.the actions ~et'forih above within 10 days of the giving'of, notice~ ~...i.. i
· ' $.' H'aiard'o~- p/0plfty Ins'ui/ance. Bd/r0We~ shall keep ~the iml,r,,vcmcnts noTM exi~'tihg or hereafter ~C'[dd On·the
ProPerty insured against loss by fire, hazards included within the term 'ex lclldcd coverage" and any'other hazards, including
floods or flooding, for which Lender requires insurance. This insurance .~hall be maintained in the amounts and for the
periods that Lender requires. The insurance carder providing the insurance shall be chosen by Borrower subject to' Lender'~
approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at
Lender's option, obtain coverage to protect Lender's fights in the Property in accordance with paragraph 7.
Page 2 of §
All insurance policies and renewals shall be acceptable to Lcmlcr :md shall include a standard mortgage clause.
Lender shall have the right to hold the policies and renewals. If Lender rct{uircs, Borrower shall promptly give to Lender all
receipts of paid premiums and renewal notices. ~!n the event of loss, Borrower shall giv~ prompt notice to the insurance
carrier and Lender. Lender may make proOf of loss [f not made Promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing,.insurancc proceeds shall be applied to restoration or repair of
the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
restoration or repair is not economically feasible or Lender's security w~mld be lessened, the insurance proceeds shall be
applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
Borrower abandons the Property, or 'does not answer within 30 days a notice from Lender that the insurance carrier has
offered to settle a claim, then Lender may collect the insurance proceeds. 1 .cndcr may use the proceeds to rePair or restore the
l:ffbperty or to pay sums secured bythis Security Irkstmment, whether tlr not then due. The 30-day period will begin when the,
notice is giVen. ~ . . .,- ,'~ : .~.. . , '~..~ , ..... ,
UnleS.~ 'l~en~ie~ and: BorrCi~r'°tlie~',vise 'agree '~ writihg, any at, pi ica tion 'of proceeds to principai shall not extend or
postPone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If
under paragraph 21 the'Property is' acquired by Lender, Borrower's righl h) any insurance policies and proceeds resulting'
from damage to the Property prior'to the acquisition shall pass to Lender Itl thc extent of the sums secured by this security
Instrument immediately Prior to the acqilisition.
6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Bom)wcr's principal residence within sixty days after
thc execution of this Security Instrument and shall continue to occupy thc Property as Borrower's principal residence for at
least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
unreasonably withheld, or unless extenuating circumstances exist which arc beyond Borrower's control. Borrower shall not
destroy, damage or impair the Property, allow the Property to deteriorah:, or commit waste on the Property. Borrower shall
be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment
could result ih' forfeiti/r~ of the Property 'or otherwise materially impair thc lien crea~ed by this Security Instrument or
Lender's security interest. Borrower may cure such a default and reinstaic, as l)rovided in Paragraph 18, by causing the action
or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's
interest in the Property or other material impairment of the lien creatcd by this Security Instrument or Lender's security
interest. Borrower shall also be in default if Borrower, during the loan al)plication process, gave materially false or inaccurate
information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan
evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a
principal residence. 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 the fcc title shall not merge unless Lender agrees to the
merger in writing.
7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
contained in. this~ Security Instrument, or there is a legal proceeding Ihat may significantly affect Lender's rights in the
Property (~Ucl/:~a iSf°¢eeding ir/banlmiptCy~ probate', for Condemnation or forfeiture or to enforce laws~ ,or regulations), then
I4,jader may do and pay for w. ha. tever is necessary tO protect the value ,ff the Property and'.L~ndei:'~ right/s.'inlthe proi/eriyi'
Lender's 'actions may include Paying any sums secUred bY a lien which has priority over. this'Seeufit3t in.4tmment, apPearing
in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action
under this paragraph 7, Lender does not have to do so.
Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the
~,:m: of disbursement at the Note rate and shall be payable, with intercsl, upon notice from Lender to Borrower requesting
payment.
8. Mortgage InSuranfe~ If Lender requir~:inortga~e insurance as a condition of making the loan secured by this
Security Instrument, Borrower shall pay the premiums required to maintain thc mortgage insurance in effect. If, for any
reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the
premiums required to obtain coverage substantially equivalent to thc mortgage insurance previously in effect, at a cost
substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage
insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to
Legder each month a sum equal to one-twelfth of the yearly mortgage ins,rance premium being paid by Borrower when the
insurance CoVerage lap~ed °r :~'6ased to b6' i'fi.effect,-Lender'will,acCept, usc and retain these Payments as a loss 'r'es~rv~ in'lieu
of mortgage insurance. 1.55kS' ~s~r¢'~ payments' m"ay ~n0 longer'be required, at the option of Lender; if'-'rhorig:~g~ in~urahee:'~
coverage (in the amount and for the period that Lender requires) provided by ,'m insurer approved by Lender again becomes
available and is obtained. Borrower shall pay the premiums required to n m intain mortgage insurance in effect, or to provide a
loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower
and Lender or applicable law.
Page 3 of 6 WY*2040*Og04
0649
9. Inspection. Lender or its agent may make reaSonable entries upon and inspections of the Property. Lender shall
give BorroWer notice at the time of or prior to an inspection specifying rca sc m able cause for the inspection.
10. Condemnation. The. Proceeds.of:any, .awed or claim for damages, direct or c°nsequential, in connection with any
condemnation Or other taking of any part of t.h'e .Pr0p~rty, or for Conveyance in lieu of ciondenmati0n, are hereby assigned and
shall be paid to Lender.
In the event of a total taking of the. Property, the prbe~eds shall be applied to. the sums secured by this Security
Instrument, whether or'not then due, with any .excess paid to Borrower. In tt~e event of a partial taking of the Property in which
the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured
by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums
secured by this Security Instrument shall. be reduced by the amount of thc proceeds multiplied by the following fraction: (a)
the~ total amount 0f the. .su~rag..see,ur~d !m~ediately. before the taking, tlividcd by (b) the fair market value of the Prope, rty
immediately before:the taking. Any balance shall be paid to Borr°wer. In ~l~c event of a P~xtia[taking of the property in Which
ithe fair market valfie.of the Pr'oper~y'~dia-t~lybefoi'e the taking is less timn the amoUnt o~' the s~ seCUred ih~m~diately
before the taking, unless Borrower and Lender Otherwise agree in writing or unless applicable law otherwise provides, tht:
P.r0ceeds shall be applied to.the sums secured by [his Security Instrument whether or not the sums ar~ then flue.
If the Property is abandoned by Borrower, or if, after notice by Ix:ndcr to Borrower that the condemnor Offers tb make
an award or settle a claim for damages, Borrower fails to respond to Ixmdcr within 30 day~ after the date the notice is given,
Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the ProPerty or to the
sums secured by this Security Instrument, whether or not then due.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
Il. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
modification of amortization of the sums secured by this Security Instrmncnl g ranted by Lender to any successor in interest of
Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall
not be required to commence proceedings against any.successor in interest or refuse to ex/end time 'for payment or otherwise
modify amortization of the sums secured by this Security Instrument by rcasou of any demand made by the original Borrower
or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or
preclude the exercise of any right or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this
Security Instrument shall bind and benefit the successors and assigns ~l' l.cndcr and Borrower, subject to the provisions of
paragraph 17. Borrower's covenants and agreements shall be joint and scwcral. Any Borrower who co-signs this Security
Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, 'grant and convey that
Borrower's interest in the Property under the terms of this Security Instrmncnt; (b) is not personally obligated tO pay the stuns
secured by this Security Instrument; and (c) agrees that Lender and any olher Borrower may agree to extend, modify, forbear
or make any accommodations with regard to the terms of this Security lnstrtuncnt or the Note without that Borrower's consent.
13. Loan Charges. If the loan secured by this Security Instrun~cnt is subject to a law which sets maximum loan
charges, and that law is finally interpreted Sg_,ttlg.t th~intere~t or other loan charges c~lle~te.d or to be collected in connection
.with the.. loan:e~ceed the pc..rmi.'tted limits,~theg: (a)any such:loan charge shall be reduced by the mount necessary to reduce
the charge t° the permitted limit; and (b) any sums already c~)llected fron Borrower WhiCh ~'~6eeded Permitted limits will be
refunded to Borrower. Lender may choose to make this refund by reduci~g thc principal owed under the Note or by making a
direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
prepayment charge under the Note.
14. Notices. Any notice to l~orrower provided for in this Security lnstrmnent shall be given by delivering it or by
mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property
Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given.by first class mail
to Lender's address-stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in
this Security Instrument shall be deemed to have been given to Borrower or I~ender when given as provided in this paragraph.
15. Governing Law; Severability. This Security Instrument shall bc goverued by federal law and the law of the
jurisdiction in which the Property is located. In the event that any provisitm tlr clause of this Security Instrument or the Note
conflicts with applicable law, such conflict shall not affect other provisi{ms of this Security Instrument or the Note which can
be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
declared to be severable~ . ~;. ~ . . . .
. ; ...... 16. Borrower.'s Copy. Borrower shall be given qne conformed copy of the Note and 0f this Security Instnunent
Page 4 of 6
17. Transfer of the Property or a Beneficial Interest in BorroxYer. I1' ,'ill or any part of the Property or any interest in
;.t is sold or transferred (or if a beneficial inierest in Borrower is sold ~r rarest'erred and Borrower is not a natural person)
without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by
this Security Instrument. However, this option shall not be exercised by l..cnder il' exercise is prohibited by federal law as of
the date of this Security Instrument.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of
not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this
Security Instnunent. If Borrower fails to pay these sums prior to the expiration ol` this period, Lender may invoke any remedies
pe, rmitted by this Security Instrument without further notice or demand on Ih~rrower.
-" 18.Borrower'sRight to Reinstate. If Borrower meets certain c~,~ditions, Borrower shall have the right to have
e~forcement of this Security Instrument discontinued at any time prior to thc earlier of: (a) 5 days (or such other period as
applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sal~f 'c~ntained in this
Security' in~trdin6~t; Or' (b) entry of a ~udgm6nt enforcing 'this Security l,lstrumcnt. Those Conditions are that Borrower: (a)
pays Lender all sums which then would be due' under this Security Instrtm ~cnl ami the Note as if no acceleration had occurred;
(b) cures any default of any other covenants or agreements; (c) pays ,11 expenses incurred in enforcing this Security
Instrument, including, but not limited to, reasonable attorneys' fees; and (ti) takes such action as Lender may reasonably
require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the
sums secured by this Security Instrument shall continue unchanged. Upo, reinstatement by Borrower, this Security Instrument
and the obligations secured hereby shall remain fully effective as it' no ,cccleration had occurred. However, this right to
reinstate shall not apply in the case of acceleration under paragraph 17.
19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security
Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity
(known as the "Loan Servicer") that collects monthly payments due Ullder tile Note and this Security Instrument. There also
may be one or more ch ~anges of the Loan Servicer unrelated to a sale ()1' the Note. If there is a change of the Loan Servicer,
Borrower Will be given written'notice of the change'in accordance With paragraph 14'above and aPPlicable law. The notice
will state the name and address of the new Loan Servicer and the addrcs.~ to which payments should be made. The notice will
also contain any other information required by applicable law.
20. Hazardous Substances. Borrower shall not cause or permit thc presence, use, disposal, storage, or release of any
Hazardous Substances on or in the Property. Borrower shall not do, ,,r allow anyone else to do, anything affecting the
Property that is in violation of any Environmental Law. The preceding lwo sentences shall not apply to the presence, use, or
storage on the Property of small quantities of Hazardous Substances that arc generally recognized to be appropriate to normal
residential uses and to maintenance of the Property.
Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
governmental or regulatory agency ~r private party involving the Property and any Hazardous Substance or Environmental
Law of which Borrower has actual knowledge. If Borrower learns, or is notificd by any governmental or regulatory authority,
that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall
promPtly tak~ all 'necessary remedialactious in accordance with Environmc m,I Law.
· · As USed in this.paragraph 20,:."Hazard0dsSubstan~es" are those sub,lances defined as t'0xi~ Or hazardous ~ubstahces by
Ehvironmental Law and the following substances: gasoline, kerosene, other flammable or'toxic petroleum ~roductsi toxic
pesticides and herbicides, volatile solvents, materials containing asbes!o,~ or ft~rmaldehyde, and radioactive materials. As used
in this paragraph 20, "Environmental Law" means federal laws and laws of Ibc jurisdiction where the Property is located that
relate to health, safety or environmental protection.
NON-UNIFORM COVENANTS. Borrower and Lender further covenallt and agree as follows:
21. Acceleration; Remedies. Lender shall give notice to Borr.~¥cr prior to acceleration following Borrower's
breach of any covenant or agreement in this Security Instrument (bttt not prior to acceleration under paragraph 17
unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the acti0nrequired to cure the
default; (e) a date, not less than 30 days from the date the notice is ~iven to Borrower, by which the default must be
cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of
the sums secured by this Security Instrument and sale of the Property. The 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 o[a default or any
other defense of Borrower to acceleration and sale. If the default i~ n.t cured on6i,~before _th~ date' Specified in the
notice, Lender at its option may require immediate payment in full ,f all sums secured by this.Security Instrument
without further demand and' may invoke the power of sale'and any ,,thc r remedies pernfitted by. aPplicable law. Lender
shall be entitled to collect all expenses incurred in pursuing the remedies provided in thig paragraph 21, including, but
not limited to, reasonable attorneys' fees and costs of title evidence
Page 5 of 6 WY-2040-0904
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 accordance with applicable law. Lender shall give notice of the sale to
Borrower in the manner provided in paragraph 14. 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 the sale shall be applied in the following 6rder: (a) to all expenses of the sale, including, but not limited to,
reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
persons legally entitled to it.
22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Securi,,'~
Instrument without charge to Borrower, except for those charges authorized by law. Borrower shall pay any recordation costs.
23. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of curtesy
and dower in the property.
24. Riders to this Seeuiqty InstrUment] ff'0ne Or more riders arc executed by Borrower and recorded together with
this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and
supplement the covenants and agreements of this Security Instrument as il' the rider(s) were a part of this Security Instrument.
[Check applicable box(es)]
[~] Adjustable Rate Rider
F-] Graduated Payment Rider
[-] Balloon Rider
r-'] Other(s) [specifyl
[--] Condominium Rider
[~] Planned Unit Development Rider
[~ Rate Improvement Rider
[~] 1 - 4 Family Rider
[--] Biweekly Payment Rider
[--] Second Home Rider
BY SIGNING BELOW, Bo~ower accepts and agrees ~to the ten.s and covenants contained'in this Security Instrument
and in any rider(s) executed by BorriSwer and recJrded with it.
'J6H~' i~'.' '[(0~ ~ ...... (Seal)
Borrower
KATHLEEN ROSAS
STATE OF WYOMING
County of
[Space Below This Line For Acknmvledgment]
The foregoing instrument was acknowledged before me this
(SEAL)
County of ~ State ot
} Sweetwater ~ Wyoming
I My Commission Ex ire
................ P. s Au . 6 20
Notary Public
Page 0 of §
WY-2040~904
ADJUSTABLE RATE RIDER
THIS ADJUSTABLE RATE RIDER is made On 10/18/04 and is incorporated.,into and shall be
deemed to amend and supplement the Mortgage, Deed of'~r~t~ ~ ~t~rit~ 'l~e'c~l'(~h'c'"Sccurity Instrument ) of the same date
given by the undersigned (the "Borrower") to secure Borrower's. Adjusta bio Rate Note (the "Note") to Wells Fargo Financial
Wyoming, Inc. (the "Lender") of the same date and covering th~ property described in th~ Security Instrument and located at:
........... 20 LITILE CANYON ROAD DIAMO DVILLE, WY 83116
[Propen~y Addre,~] ........................................
NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH
CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE
INTEREST RATE. INCREASES IN THE INTEREST RATE WILL
RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST
RATE WILL RESULT IN LOWER PAYMENTS. THE NOTE LIMITS
THE AMOUNT MY INTEREST RATE CAN CHANGE AT ANY ONE
TIME AND THE MAXIMUM RATE I MUST PAY.
ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower
and Lender further covenant and agree as follows:
2. INTEREST RATE AND PERIODIC PAYMENT CHANGES
The Note provides for an initial interest rate of 8. B§ %. The Nolo provides for changes in the interest rate and the
payments, as follows: .........
3. PAYMENTS
(A) Scheduled Payments
I will pay principal and interest by making payments when scheduled. I will make my scheduled payments each month
beginning on 11/22/04
(B) Mat~l~i~r'Dhi~':~h~l' ~'lh~'e' ~i"P~ 'y~h~ .... '
I will make these payments as scheduled until I have paid all of the principal and interest and any other charges described
below that I may owe under this Note.
My scheduled payments will be applied to interest before principal. If, on 10 / 22/11
I still owe amounts under thru Note, I wall pay those amounts m full on thai date, which is called the "ma't~it'y'c~a~.'; ......
I will make my scheduled payments at 2441 FOO/HI~.L BLVD 1243
.R.OC.K..S.P~I.N.G.S, WY 82§0! .........................................................
place if required'l~y' th~ i~ot~/-I~idek' .................................................. or at a different
(C) Amount of My Initial Scheduled Payments
Each of my initial scheduled payments will be in the mount of U.S. $ 904.00 . This amount may change.
(D) Scheduled Payment Changes ...............
Changes in my scheduled payments will reflect changes in the unpaid principal of my loan and in the interest rate that I
must pay. The Note Holder will determine my new interest rate and thc changed amount of my scheduled payment in
accordance with Section 4 of this Note. (E) Late Charge
If the Note Holder has not received the full amount of any monthly payment hy the end of 10 calendar days after the date
it is due, I will pay a late charge to the Note Holder. The amount of the charge will he the greater of 5% of that portion of my
payment of principal and interest that is late or $10. I will pay this late charge promptly but only once on each late payment.
4. INTEREST RATE AND SCHEDULED PAYMENT CHANGES
(A) Change Dates
Each date on which my interest rate could change is called a "Change Date/' The interest rate I will pay may change on
...... J 0/. 2.2~ {)7. .......... and on every sixth month anniversary da to. thereafter that is before the maturity date. There
will be no Change Dates on or after the maturity date. The interest rate in cf feet on the maturity date will remain in effect
after the maturity date until the full amount of principal has been paid.
(B) The Index
Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the highest "Prime
Rate" as published by the The Wall Street Journal.
The Index figure published in The Wall Street Journal on the last busim:ss day of the month corresponding to one day
preceding one month prior to the Change Date is called the "Current Index."
WY-2040-0904
Page I of 2
-:0653
new index which is based upon comparable
If the Index is no longer available, the Note Holder will choose a
information. The Note Holder will give me notice of this choice. (C) Calculation of Changes
Before each Change Date, the Note Holder will calculate my new interest rate by adding...V.0.~.8..~.N.O..1.0./.! .0.0 ....
percentage points ( ....... 0.4: .1.0.% this number is referred to hereafter .'~s tile "Margin") to the Current Index. The result of
this calculation will be rounded off by the Note Holder to the nearest 0.125 %. Subject to the limitations stated in Section
4(D) below, this amount will be my new interest rate until the next Change l)ate.
The Note Holder will then determine the amount of the scheduled l'") mcnt that would be sufficient to repay the unpaid
principal that I am expected to owe at the Change Date in full on the m,,~rity date at my new interest rate in substantially
equal payments. The result of this calculation will be the new amount of,~>, scheduled payment. (D) Limits on Interest Rate Changes
My interest rate will .never be increased or decreased on the first {'hangc Date by more than three (3%) percentage
points. For all Change Dates thereafter, my interest rate will never be i,crt'ased or decreased by more than (1%) percentage
point. Subject to any limitation set forth in Section 6 of the Note, lily interest rate will never be more than six (6%)
percentage points greater than/.he, initiil int~res~ rate set forth in Sectio, 2 above. Notwithstanding anything to the contrary
in this Note, my interest rate will nevfir decrease below the Margin. (E) Effective Date of Changes
My new interest rate will become effective on each Change Date. l will pay the amount of my new scheduled payment
beginning on the first scheduled payment date after the Change Date t,,t il thc amount of my scheduled payment changes
again.
(1~ Notice of Changes
At least 25 days, but not more than 120 days, before the effective date of any payment change, the Note Holder will
deliver or mail to me a notice of any changes in my interest rate and thc amounl of my scheduled payment. The notice will
include information required by law to be given to me and also the telephone number of a person who will answer any
question I may have regarding the notice.
[] FUNDS FOR TAXES AND INSURANCE
Uniform Covenant 2 of the Security Instrument is waived by the Lender.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate
...........
JOHN R. ROSAS ............
Bo~owe~
~A~L E~R ShS----~E-4-O--- --: .......... v~' (Seal)
Ad l ndu fprJegal description of Deed of Trust/Mortgage dated
¢654
Parcel #68, being a port!on of Tract 50 of the Resurvey, lying w~thm the unplatted portion
of tile Town Of Diemondq, illel begln'ning at corner I o! Parcel 6~ which is also Corner 1
of Parcel 69, said corners being N19°50'30"W. 1544.1 feet from Tract Corner 3 of Tract'
46 and Tract Corner 8 of Tract 38; thence N52°14'VV, 124.7 feet to Corner 2; thence
N37°46'E, 100.0 feet to Corner 3: thence S52°14'E, 124.7 feet to Corner 4, which Is also
Corner 2 of Parcel 69; thence S37°46Vv', 100.0 feet to Corner ' the point of beginning;
and also
A 30 foot strip of land In Tract 50 of Johnson and Jaeckles res~rvey of Section 23, T21N,
R116W, 6'~ P.M., contiguous to Parcels 67 and 65 of fine Replat of Diamondville,
Wyoming dated August 31, 1942 on file with the County Clerk an~ Ex-Officio Reglmer of
Deeds for Lincoln County, said strip being described to-wit:
Beginning at an aluminum cap set Nll°43'W, 1733.4 feet from the southeast corner of
Section 23. also being corner no. 1 of sai~ Pa[col 67; th~c~ N37M6'E alpng the
easterly bounde~ of said parcel 67, a distance of 100 feet to an aluminum cap set a~
corner no. 4 thereof, thence S52°14'E, a distance of 30 feet to an aluminum cap set at
corner no. 3 ol said parcel 68; thence S37°46'W, a distm~ce of 100 feet. along the
westerly boundary of said parcel 68 to an aluminum ¢ap set at corner no. 2 of said
parcel 68; thence N52°14'W. a distance of 30 feet to the poi~t of beginning, being said
corner no. 1 of said Parcel 67;
JOHN R. ROSAS