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HomeMy WebLinkAbout904548 RECEIVED L,!,.COI..N COUNTY CLERK 90 5 8 MORTGAGE ' i':~ i\,I',]N E WAGNER MIN 100135811051067961 THIS MORTGAGE is made this 9th Douglas Kelth Sauls dayofNovember. 2004 , between the Mortgagor, (herein "Borrower"), and the Mortgagee~ Mortgage Electronic Registration Systems, Inc. ("MERS"), (solely as nominee For Lender, as hereinafter defined, and Lender's successors and assigns). MERS is organized and existing under the laws oF Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. Home Star Hortgage Services. LLC 'existing under the laws of D E LAWA R E Wl15 Century Road Paramus0 NEW JERSEY 07652 , ("Lender ") is organized and , and has an address of WHEREAS, Borrower is indebted to Lender in the principal sum of U. ~. $ 41.67 0.00 , which indebtedness is evidenced by Borrower's note dated N o v e mb e r 09, 2004 and extensions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable on December 01, 2019 ; TO SECURE to Lender the repayment of the indebtedness evidenced by thc Note, with interest thereon; the payment of all other sums, with interest thereon, advanced in accordance herewith to protec~ the security of this Mortgage; and the performance of the covenants and agreements of Borrower herein contained. Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of L ~ n ¢ o 1 n , State of Wyoming: All that tract or parcel of land with Improvements thereon as shown on Exhibit "A" attached hereto which is incorporated herein and made a part hereof. This l s a purchase money hereln by a certaln deed mortgage being to be ~ecorded the same premises conveyed to the mortgagee simultaneously herewith. which has the address of 325 Cedar Drlve Thayne [city], Wyoming 83127 [Street], [zip Codel (herein "Property Address"); TOGETHER with all the improvements now or hereafter erected on thc property, and all easements, rights, appurtenances and rents, all of which shall be deemed to be and remain a part of thc property covered by this Mortgage; and all of the foregoing, together with said prope_rty (or the leasehold estate if this Mortg,agc is on a leasehold) are hereinafter referred to as h o " ~ t e "Pr perty. Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Mortgage; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors and assigns), has the right: to exercise any or all of those interests, including, but no! limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not Ii m i lcd to, releasing or canceling this Mortgage. Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower covenants that Borrower warrants and will defend generally the title to the Property against till claims and demands, subject to encumbrances of record. UNIFORM COVENANTS. Borrower and Lender covenant and agree as lbllows: 1. Payment of Principal and Interest, Borrower shall promptly pa) when due the principal and interest indebtedness evidenced by the Note and late charges as provided in the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum 1105106796 IWYOMING - SECOND MORTGAGE - 1/80 - FNMAIFHLMC UNIFORM INSTRUMENT WITH MERS I (~-76 N(WY) (o2o~).0~ Initiats~ VMP MORTGAGE FORMS - (800)521-72~1 Amended 2101 ~ _ N M 1 0 0 0 * O90454S 044 9 (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned unit development assessments, if any) which may attain priority over this i~h~rtgage and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus onc-t~veltih of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to fi~ne by l~ender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to make ~t~'l~ payments of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior mortgage or deed ~t' h'ust if such holder is an institutional lender. If Borrower pays Funds to Lender, the Funds shall be held in an inslilution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents, k~nd~r may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessmcnls and bills, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. B~,~r~wcr and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid t~ Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be rcqnircd to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual acc~m~ning of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. Thc l:tmds are pledged as additional security for the sums secured by this Mortgage. If the amount of the Funds held by Lender, together with the future ~mmthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, ~h~dl exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of I:unds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and grotmd rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as l~ender may require. Upon payment in full of allsums secured by this Mortgage, Lender ~hall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Mortgage. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in paymcm of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to thc principal of the Note. 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borroxxcr shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over this Mortgage, including Borrower's covenants to make payments when due. Borrower shall pay or cause to hc paid all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority t~vcr this Mortgage, and leasehold payments or ground rents, if any. 5. Hazard Insurance. Borrower shall keep the improvements nox~ cx~sting or hereat~er erected on the Property insured against loss by fire, hazards included within the term "extended coverage." and such other hazards as Lender may require and in such amounts and for such periods as Lender may require. The insurance carrier providing the insurance shall be chosen by I I,~rrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies ;md renewals thereof shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a l',;rm acceptable .to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any m~rtgage, deed of trust or other security agreement with a lien which has priority over this Mortgage. In the event of loss, Borrower shall give prompt notice to the insunmcc ca,'rier and Lender. Lender may make proof of loss if not made promptly by Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respired to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to rest~tion or repair of the Property or to the sums secured by this Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Cm~dmniniums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not commit waste or l~crmi! impairment or deterioration of the Property and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's t~bl igations under the declaration or covenants creating or governing the condominium or planned unit development, the by-law,s and regulations of the condominium or planned unit development, and constituent documents. 7. Protection of Lender's Security, If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materiall> a ITccts Lender's interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. Il' l.ender required mortgage insurance as a condition of making the loan secured by this Mortgage, Borrower shall pay the pretniums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional indebtedness of Borrower secured by this Mortgage. Unless II~rrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable ennies upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damngcs, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed ~' trust or other security agreement with a lien which has priority over this Mortgage. 10. 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 Mortgage granted by Lender ~o any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refitsc to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any rigln or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. 1105106796 1[~)~76N(WY) (o2os).oi Page 2 Form 3851 11. Successors and Assigns Bound; Joint and Several Liabilily; Co-signers. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respcclivc successors and assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs this Mortgage, but does not execute the Note, (~t) i~ co-signing this Mortgage only to mortgage, grant and convey that Borrower's interest in the Property to Lender under thc tcrm~ of this Mortgage, (b) is not personally liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Borro~ver hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms ol' this Mortgage or the Note without that Borrower's consent and without releasing that Borrower or modifying this Mortgage as to that Borrower's interest in the Property. 12. Notice. Except for any notice required under applicable law to bc given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designznc by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address ~ta~cd hm'ein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided tbr in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 13. Governing Law; Severability. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing sentence ~hall not limit the applicability of federal law to this Mortgage. In the event that any provision or clause of this Mortgage ~r thc Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can b~ given effect without the conflicting provision, and to this end the provisions of this Mortgage and the Note are declared to bc ~evcrable. As used herein, "costs," "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein. 14. Borrower's Copy. Borrower shall be furnished a conformed c~q~y of the Note and of this Mortgage at the time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrower shall fulfill all o1' Bt~rrower's obligations under any home rehabilitation, improvement, repair, or other loan agreement which Borrower enters inl(~ with Lender. Lender, at Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or ~crvices in connection with improvements made to the Property. 16. Transfer of the Property or a Beneficial Interest in Borrower. I1' all or any part of the Property or any interest in it is sold or transferred (or ifa beneficial interest in Borrower is sold or transferred 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 Mortgage. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage. If Lender exercises this option, Lender shall give Borrower notice t~l' 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 Mortgage. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Mortgage without further notice or demand on Borrower. NON-UNIFORM COVENANTS. Borrower and Lender further covemmt and agree as follows: 17. Acceleration; Remedies. Except as provided in paragraph 16 Itcreol; upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, not less than 10 days from the date the notice is mailed to Borrower, by which such breach must be cured; and (4) that failure I. cure such breach on or before the date specified in the notice may result in acceleration of the sums secured by this Mm'llgage. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court :~ction to assert the nonexistence of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by Ihis Mortgage to be immediately due and payable without further demand and may invoke the power of sale and an)' other remedies permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees. 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 mail a copy of a notice of the sale to Borrower in the manner provided in paragraph 12 hereof. Lender sh:HI publish the notice of sale and the Property shall be sold in the manner prescribed by applicable law. Lender or I.ender's designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all reasonable costs and expenses of the sale, including, but not limited to, reasonable attorneys' fees and costs uf title evidence; (b) to all sums secured by this Mortgage; and (c) the excess, if any, to the person or persons legally entitled thereto. 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to the earlier to occur of (i) the fifth day bcl'ore sale of the Property pursuant to the power of sale contained in this Mortgage or (ii) entry of a judgment enforcing this Mortgage iff (a) Borrower pays Lender all sums which would be then due under this Mortgage and the Note had no acceleration t~ccurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of this Mortg~tgc, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and cfi'oct as if no acceleration had occurred. 19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. 1105106796 I~m-76N(WY) (020s).Ol Paga 3 o~4 Form 3851 Upon acceleration under paragraph 17 hereof or abandonment of Ibc Property, and at any time prior to the expiration of any period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and lo collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Mortgage. Lender and the receiver shall be liable to account only for those rents actually received. 20. Release. Upon payment of all sums secured by this Mortgage, I,cnder shall release this Mortgage without charge to Borrower. Borrower shall pay all costs of recordation, if any. 21. Waiver of Horn estead. Borrower hereby waives all right of homestead exemption in the Property. REQUEST FOR NOTICE O1: DEFAULT -AND FORECLOSURE UNDER SUPERIOR MORTGAGES OR DEEDS ()F TRUST Borrower and Lender request the holder of any mortgage, deed t~l' trust or other encumbrance with a lien which has priority over this Mortgage to give Notice to Lender, at Lender's address set £orth on page one of this Mortgage, of any default under the superior encumbrance and of any sale or other foreclosure act IN WITNESS WHEREOF, Borrower has executed this Mortgage. ~ _ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower [Sign Original Only] STATE OF WYOM~G, ' County ss:~~ The foregoing instrument was acknowledged before me this November, 09 2004 by Douglas Ke~th Sau]s . My Commission Expires: Notary~pu blic 110S106796 (~-76N(WY) (o2os).o~ Paga 4 of 4 Form 3851 0: 04,548 EXHIBIT "A" Lot 19 of Star Valley Ranch Plat ?, Lincoln County, Wyoming as described on the official plat nhereof. ' 045 () PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 9th day of November, 2004 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed t~l' Trust or Security Deed (the "Security Instrument") of the same date, given by the undersigned (thc "Borrower") to secure Borrower's Note to Home Star Mortgage Services, LLC (the "Lender") of the same date and covering the Property described in the Security Instrument and located at; 325 Cedar Drive, Thayne, wYOMING 83127 [Property Address] The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in Dec] aratl ohs of Covenants. Conditions, and Restrlctlons (the "Declaration"). The Property is a part of a planned unit development known as Star Valley Ranch [Name of Planned Unit Devch*lmicnt] (the "PUD"). The Property also includes Borrower's interest in tile homeowners association or equivalent entity owning or managing the common areas and facilities of ll~e l'U D (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and a~rcc~nents made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Bt~rrower's obligations under the PUD's Constituent Documents. The "Constituent Documents" arc the: (i) Declaration; (ii) articles of incorporation, trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituc n l)ocuments. 1105106796 1105106796 1105106796 MULTISTATE PUD RIDER - Single Family/Second Mortgage Page 1 of 3 (0003) VMP MORTGAGE FORMS (800)521-7291 3199 * L N R 1 0 0 0 * 0 04548 B. Hazard Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, for xxhich Lender requires insurance, then: (i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of the yearly premium installments for hazard insurance on the Properly; and (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lap.sc m required hazard insurance coverage provided by the master or blanket policy. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall appl3 Ihe proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, it' any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim lbr damages, direct or consequential, payable to Borrower in connection with any condemnation or edger taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Uniform Covenant 9. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Properly or consent to: (i) the abandomnent or termination of the PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking b3 condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" il' thc provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effecl et' rendering the public liability insurance coverage maintained by the Owners Association unacceptable to I.ender. 1105106796 1105106796 1105106796 Initials:~ (~o207R (0003) Page 2 of 3 "~ 3199 0904548 ( ' 045 5 F. Rem edies. If Borrower does not pay PUD dues and a.~scssments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F .~hall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement ~lt thc Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting pa3' mc nt. BY SIGNING BELOW, Borrower accepts and agrees to the lcrms and provisions contained in this PUD Rider. ~"~eal) -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower 1105106796 1105106796 1105106796 ~.~,207R (0003) Page 3 of 3 3~99 BALLOON RID E R SECOND MORTG AG E THIS BALLOON RIDER is made this 9th day of November, 2004 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure the Borrower's Note (the "Note") to Home Star Mortgage Services, LLC (the "Lender") of the same date and covering the Property descri bcd in the Security Instrument and located at: 325 Cedar Drive Thayne, WY 83127 The interest rate stated on the Note is called the "Note Rate" The date of the Note is called the "Note Date". I understand the Lender may transfer the Nol¢. Security Instrument and this Rider. The Lender or anyone who takes the Note, Security Instrumeiat and. this Rider by transfer and who is entitled to receive payments under the Note is called thc "Note Holder". ADDITIONAL COVENANTS In addition to the covenams and agreements in the Security Instrument, Borrower and Lender further covenant and agree ;ts lb [lows (despite anything to the contrary contained in the Security Instrument or the Note): THE LOAN IS PAYABLE IN FULL AT MATURITY. YOU MUST REPAY THE ENTIRE PRINCIPAL BALANCE OF THE LOAN AND UNPAID INTI!REST THEN DUE. THE LENDER IS UNDER NO OBLIGATION TO REFINANCE '1'1112 LOAN AT THAT TIME. YOU WILL THEREFORE, BE REQUIRED TO MAKE PAYMENT ()UT OF OTHER ASSETS THAT YOU MAY OWN, OR YOU WILL HAVE TO FIND A LENI)IiR, WHICH MAY BE THE LENDER YOU HAVE THIS LOAN WITH, WILLING TO I.I:.NI) YOU THE MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HA\~E TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITIt A NEW LOAN EVEN IF YOU OBTAIN REFINANCING FROM THE SAME LENDER. BY SIGNING BELOW, Borrower accepts and agrees 1o thc terms and covenants in this Balloon Rider. Date Borrower Date BorrOwer Date Borrower Date 99BARD / 99BARD (012002.Rev(00)) 99BARD.uff Loan Number: 1105106796 * k N R 1 0 0 0 *