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HomeMy WebLinkAbout904659C( 08Ci 4 lC- After Recording Return To: FIRST NATIONAL BANK-WEST PO BOX 3110, 100 GREYS RIVER ROAD ALPINE, WYOMING 83128 RECEIVED 11/17/2004 at 3:04 PM RECEIVING// 904659 BOOK: 570 PAGE: 804 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recto'ding Data] Loan Number 78734005 MERS Number 100015700043537931 MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and ~thcr words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document arc also provided in Section 16. (A) "Security Instrument" means this document, which is dated N()VI,;MBER 12, 2004, together with all Riders to this document. 01) "BorroWer'' is ROBERT POINDEXTER and ELIZABETH I'()iNI)EXTER, HUSBAND And WIFE and HEIDI POINDEXTER, A SINGLE PERSON AS JOINT TENANTS WITH FI I IA, RIGHT OF SURVIVORSI:IIP. Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely asa nominee for Lender and Lender's successors and assigng. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an addrcs~ and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is FIRST NATIONAL BANK-WEST. Lender is a CORI'()RATION organized and existing under the laws of WYOMING. Lender's address is PO BOX 3110, 100 GREYS RIVER R¢)A !), ALPINE, WYOMING 83128. 0g) "Note" means the promissory note signed by Borrower and dated N()VEMBER 12, 2004. The Note states that Borrower owes Lender ONE HUNDRED THIRTY-FIVE THOUSAND AND 00/100ths Dollars (U.S.$135,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments ami to pay the debt in full not later than DECEMBER 1, 2034. (F) "Property" means the property that is described below under the head mg "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (It) "Riders" means all Riders to this Security Instrument that arc executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [--] Balloon Rider [] Planned Unit Development Rider [] Other [Specify] [] 1-4 Family Rider [] Biweekly Payment Rider WYOMING-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRU M I(NT Borrower initials ~¥~ '~ ~ Form 3051 1/01 (page 1 of l l pages) "085 CI) "Applicable Law" means all controlling applicable federal, ,t;~tc and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all :q~plicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homc,,wncrs association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other th:m a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, tclcph~mic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit :,t account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transkrs initiated by teiephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or prOceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condenmation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of thc Property. (lq) "Mortgage Insurance" means insurance protecting Lender against thc nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount due fi,r (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 Procedures Act (12 ti.S.C. § 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from ti~nc to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Secu,'i~y Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage lt~an" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has ~:~kcn title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Inst t-mncnt. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, aud all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements umlcr this Security Instrument and the Note. For this purpose, 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 LINCOLN : [Type of Recording Jurisdiction] [Name of Recording Jurisdictitml LOT 93 IN STAR VALLEY RANCH PLAT 12, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF KNOWN AS: 770 VISTA DRIVE, TIIAYNE, WY 83127 which currently has the address of 770 VISTA DRIVE THAYNE , Wyoming 83127 [City] [Zip Code] WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTR! L\ IKNT (" I'r~pCl'ty Address"): Form 3051 1/01 (page 2 of ll pages) TOGETHER WITH all the improvements now or hereafter erected c~ ~hc property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and addi~il ~s shall also be covered by this 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 granted by Borrower in this Security hlslrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and :~igns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell thc Ih'~pcrty; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrumc~t. BORROWER COVENANTS that Borrower is lawfully seise~l of thc cxtale hereby con'veyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, c\t.c, pt for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and debt,at,ds, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants tk~' ~:Jti~)nal use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument coveril~.,~ real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree :~h Ikdlows: 1. Payment of Principal, Interest, Escrow Items, Prepay~nent (ql:ir~t,s, ,and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and a~)' l')rcpayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Sec~i,~ 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other i~t~trument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may rc'qt~h'e that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the followi~lg l¥)rms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, p~'~victed any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; ~r (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the locm il,~ designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in ,~cc~ i~n t5. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the L~',.~ ct~rrunt. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any ri~ht~ hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated I~ apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled duc date, lhen Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes pa),~c~t to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply s~.'h fimds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance ,~tlcr thc Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future againsi l.c~tlcr shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the c,,vc~ants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) i~t,,rcst due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, ~ccond to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Len,der receives a payment from Borrower for a delinquent Period ic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent pay~c~t and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from B~.'~'~,wcr to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent th:ti a~y excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be al)l*licd to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in thc N~ ~te. Any application of payments, insurance proceeds, or Miscellaneot~s l'roceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Pay~lc,~ts. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day I'criodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amot.~s due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or enct~brance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all i~,ra~ce required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower t~ I c~tlcr in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These item~ :~'c called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Ass{~ciation Dues, Fees, and Assessments, if any, be Borrower Initials (~ ~/ ~t9 VqYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUM I,;NT Form 3051 1/01 (page 3 ofll pages) escrowed by Borrower. and such dues, fees and assessments shall hc ;m Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrow cr shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escr,,w hems. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any sm'h waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the am(~m~t, (lt~c for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish t~ Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to re:tLc such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in ~l~i~ Security Ins!rnment, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Itc~ls directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its righl~ trader Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amt~lmt. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Sectic,~ 15 :md, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Sccti,~n 3. Lender may, at any time, collect and hold Funds in an amount (a) sulriciunt to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lc~dcr can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are instated hy a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified tH,let RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow accotml, ,,r verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender tt~ m~kc such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, howc, vcr, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as rc'quired by RESPA. If there is a surplus of Funds held in escrow, as defined under RI~.~;I',:\, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in csc'i't~w, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower. shall pay to Lender the am,~,nt t~ecessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a dct'icicncy of Fundsheld in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrm¥cr shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 mouthly payments. Upon payment in full of all sums secured by this Security Instrument, l.cndcr shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, chargL.~, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payn~cnts or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extc~lt Ihat these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over thi~ ~qccurity Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner zlCCCl)tabl~ to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or tlc. l~C. llds against enforcement of the lien in, legal proceedings which .in Lender's opinion operate to prevent the enforcemen~ ~I' the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the h~,hlcr of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines Ihat any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrowc~- a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lienor lake one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real csl:t~c lax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," :md any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insm':mcc shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing Ibc i~lsurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower WYOMING--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRLrMENT Form 3051 1/01 (page 4 ofll pages) 0 046 ) to pay, in connection with this Loan. either: (a) a one-time charge t'~' fi,~(,d zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and cc~'lific'ation services and subsequent charges each time remappings or similar changes occur which reasonably might affect such &'Icm~ination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergent3 Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described abox c, I.cndcr may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might r/ot protcc~ Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might prov idc greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by l.cnder under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts sh.'dl bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies 4mil 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, lt' l.cnder requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower t~l,~ains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, suct~ ptdicy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to rcsI,~ration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. Dm'i~g such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opl~,,mmity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection Mmll be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series ol' in,~grcss payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to bc paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees fi~r public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be thc sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with thc excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and scenic any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that thc insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin whoa thc notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the N~,~c or this Security Instrument, and (b)any other of Borrower's rights (other than the right to any refund of unearned premimns paid by Borrower)under all insurance policies covering the Property, insofar as such rights are applicable to the cover,ge of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower Shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the 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 i~ writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; h~lwctions. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Pr, ~l)crty fi'om deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair ,,r restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioratio~ ,~r damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, B~'r,~wcr 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 w,,rk is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is no~ relieved of Borrower's obligation for the completion of such repair or restoration. Form 3051 1/01 (page 5 of ll pages) WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 09046,59 ". 9 Lender or its agent may make reasonable entries upon and inspections ~f the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender sh:dl give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable eanse. 8. Borrower's Loan Application. Borrower shall be in default if, dining the Loan application process, Borrower or any persons or entities acting at the direction of Borro~ver or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information)in connection with the Loan. Material representations include, but. are no~ limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Insmm~cnt, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement ,~1' a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has aband~med the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in thc Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securin,: :md/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to prolcct its interest in the Property and/or rights under th.~s Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or I~ard up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have u~ilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not m~dcr any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under fl~is Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from thc dale of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not mc~'uc unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a c,mdition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect, l, lk3r any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that p~'eviously provided such insurance and Borrower was required to make separately designated payments toward the premiums l'~lr Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the M~ngage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insm,m~c previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurm~cc c,~vcrage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments tha~ wc~'c duc when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refund:~blc l~}ss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the L,,an is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve, l.cmlcr can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lendcr requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of m'aking the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insur~mcc, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable Ios~ ~'cscrve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrowcl' ami Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases Iht Nole) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in fm'c~- from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties)m Ihcse agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mo~-I!~age insurer may have available (which may include funds obtained from Mortgage Insurance premiums). WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUM E NT Form 3051 1/01 (page 6 of ll pages) o o4f;a 0 8.7. 0 As a result of these agreements, Lender, any purchaser of the Note, am~ther insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) mn, rants that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange lk~t sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender tak,'s :~ share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "capti~ c reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amotml I~m'rower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower Im~ - il' any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insm'ance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance iwemiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Misccll:mcous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged~ such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertakenpromptly. Lender may pay for the repairs and restoration in a single disbursemcm or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest ~, caruings 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 no~ then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Prtq~crty, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with ~hc excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Pn~pcrty in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal t,~ or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destmcti~m, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of thc stuns secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of thc Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Prt~pcrty in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is lc~s tlnm the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and l.cndcr otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender m Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damagc~, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and appl) thc Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, xvhcthcr or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether dx'il or cri:ninal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of l~cmlcr's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lendcr'~ judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or ~cpair of the Property shall be appliedintheorder provided for in Section 2. WYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUM i:.NT Form 3051 1/01 (page 7 of ll pages) 12. Borrower Not Released; Forbearance By Lender Not a Wai~tT. ~xtcnsion of the time £or payment or modification of amortization of the sums secured Dy this Security Instrument granted ~y l.cnder to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any St~cccssors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest ~,1 l~m'ower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by thi~ Security lnstrtm~c~t by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance I,5, l.cnder in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third pers,~s, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude thc exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and A~qgns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be.joint and several. Howevcr~ ;~ny Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Secur t5 h~strument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Inslrmncnt; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrumcm ~r lhe Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest m I~,,rrowcr who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall ,,I,tain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's t,l~ligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agrcc,~cnts o£ Ihis Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services pcrfi~rnlcd in com~ection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under thin Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to ;my t~thcr fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not bc c~mstrucd as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security In~t rmncnt or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, a,t that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan c×~ccd the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to thc l)crmitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to B{~rt-mver. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct p%mcnt to Borrower. Ifa refund reduces principal, the reduction will be treated as a partial prepayment without any prepaymcm charge (whether or not a prepayment charge is provided for under the Not. e). Borrower's acceptance of any such refund m:~dc by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection wi~l~ this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be dccmcd lo have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sc.~]t by other means, Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires mhcrwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice m kender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for rcp~rting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another addl-c~ by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lcmlzr until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable l.aw, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Secmity Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and t3bligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicabk. kaw might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be constructl ils a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or thc Nme conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the N~lc which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender .q~all mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note :tlltl of this Security Ins t. Borrower lnitialst .C~n ~ f WYOMING-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (page 8 ofll pages) 18. Transfer of the Property or a Beneficial Interest in Borrower. ks used in this Section 18, Interest ln~t~r~perty'' means any legal or beneficial interest in the Property, including, but nt,t limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow :l~,,'ccmcnt, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sohl t}t-transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without l,t'nder's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrmt~cnt. 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 Borrower notice of ~ccclc,-ation. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Ncction 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these stm~ prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further ti, ,t icc or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrm~'t:r meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any t~mc prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instr.,~t,~t; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a iudglnCnt enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would I,c tluc under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covt'n:tllts or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reason~tblc attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's i~dcrcst in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to :~s~t.'c that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sn,~, secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums :tim expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank t'hcck, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured I,y a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Sect. ity Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. Thc Nme or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice ~ Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments tluc under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale t~l' Ibc Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA ~'cquires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a I.t,,m Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with thc I.t~an Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to m~3, .j,dicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant t. Ihis Security Instrument or that alleges that the other party has breached .any provision of, or any duty owed by reason of, this Scc~lrity Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the rc, luircments of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that tilne period .will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to ct.'c given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall bc dt,cmcd to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. ttazardous Substances. As used in this Section 21: (a) "Hazard,ms Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and thc Ibllowing substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" mc:ms t'ctlcral laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental I.:~w; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environment:d Cleanup. Vv'YOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMli;NT Form 3051 1/01 (page 9 of ll pages) Borrower shall not cause or permit the presence, use, disposal, stora?, .r release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrox~cr &hall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (h) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, crc,rcs a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presencc, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate I,) normal residential uses and to maintenance of the Property (including, but not limited to, hazardou;s substances in consumer ]~t)tltlC, t s). Borrower shall promptly give Lender written notice of (a) any invcsl i~afion, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Propertx :md any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Conditi.n, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) ;my condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Pr, q)erty. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any rem.v~d or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender I',,r an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenam and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior ill acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) Iht, action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borro~ver, hv 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 ftu-[ 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 Borrower to acceleration and sale. If the default is not cured on or before the da[e specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of init,n/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 Section 15. Lender shall publish [he notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may pm'chase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of tile ,~ale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; m~d (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Insmm~cm, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a l'ec lbr releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fcc i~ permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue, .f the homestead exemption laws of Wyoming. WYOMING--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Borrower Initials ..~$~fi:~ Form 3051 1/01 (page 10 of ll pages) ' 0814 BY SIGNING BELOW. Borrower accepts and agrees to the term:, ::t,,l ~,,, cmlnts contained in this Security Instrument and m any Rider executed by Bo~ower ~d recorded with it. ROB l,,lt 1' POINDEXTER ELI Z. \ ]; E T11 POINDEXTER -8orrow~r HE I 1 )1 I'O I NDEXTER .(Seal) -Borrower (Seal) -Borrower _(Seal) -Borrower State of WYOMING County of LINCOLN [Space Below This Line For Ackmm h'(Igulent! ) ss ) The foregoing instrument was acknowledged before me I,3' ': ':----- --------=:' .... ':-_-__ :"-~'7_ HEH)iPOINDEXTER, A ~d:N,~I~GL~ FULL RIGHT OF SURVIVORSHIP this/fi,q.~day of NOVEMBER, 2004. TH Witness my hand and official seal. (Seal)~ (Print or type name) Mi SrAT~ OF ~.~41>28~ ) c0mrvt ) ss e foregoing instrument ~as acknowledged before I~E~ POIntER, ~SB~ ~ ~, AS JOI~ me by ROBERT POI~R ~ S~V] day of NO--ER, 2004. T~AN I% WITH ~L RIGHT OF and official seal. ~otary Pub{ {~ - or type name) YVYOMING--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUME;<I Form 3051 1/01 (page I1 of l l pages) Loan Number 78734005 PLANNED UNIT DEVELOP~ ! ENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 12TII day of NOVEMBER, 2004, and is incorporated into and shall be deemed to amend and supplemcm thc/vlortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date, given by ~hc undersigned (the "Borrower") to secure Borrower's Note to FIRST NATIONAL BANK-WEST (the "/.cndcr") of the same date and covering the Property described in the Security Instrument and located at: 770 VISTA DRIVEr THAYNE~ WYOMING 83127 [Property Address] The Property includes, but is not limited to, a parcel of hind improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in COVENANTS~ CONDITIONS~ AND RESTRICTIONS OF RECORD (the "Declaration"). The Property is a part of a planned unit dcvch)pmcnt known as STAR VALLEY RANCH [Name of Planned Unit Develolm~cml (the "PUD"). The Property also includes Borrower's interest in ~hc homeowners association or equivalent entity owning or managing the common areas and facilities ~ff ~l~c PUD (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agrccn~cnts made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all ofBorrcwcr's obligations under the PUD's Constituent Documents. The"Consnment-" Documents" arc: I]le: (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 thc Owners Association. Borrower shall promptly pay, when due, all dues and assessments imv~cd pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Asst,ciaiion maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverag~ in lhe 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 ~, earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives the lmwision in Section3 for the Periodic Payment to Lender of the yearly premium installments for pr~pcrty insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property ,n~urance coverage on the Property is deemed satisfied to the extent that the required coverage is prtMcl~d by the Owners Association policy. What Lender requires as a condition of this waiver can chzm~c during the term of the loan. Borrower shall give Lender prompt notice of any lapse in rcqu it'od property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance pr~ccc'da iu lieu of restoration or repair following a loss to the Property, or to common areas and /'aciliti~s of thePUD, any proceeds payable to Borrower are hereby assigned and shall be pzfid to Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Ih)J l~)~ cr Initials MULTISTATE PUD RIDER--Single Family--Fannie Mae/Freddie Mac UNIFO R X I I N S'114 UMENT (page ] of 2 pages~ 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 l'or damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, m' for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lend ct. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower shall not, exccl)~ after notice to Lender and with Lender's prior written consent, either partition or subdivide thc Property or consent to: (i) the abandonment 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 by condemnation or eminent domain; (ii) any amendment it} any provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender [o Borrower requesting payment. BY SIGNING BELOW, Borrower Rider. accepts and agrees to the terms and covenants contained in this PUD ROBERT POINI)EXTER ' ( t I I -IDI POINDEX'i'E R (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower MULTISTATE PUD RIDER--Single Family--Fannie Mae/Freddie Mac UNIFOR:Xl INS I'Rt/MENT Form 3150 1/01 (page 2 of 2 pages) SECOND HOME RIDER Loan Number 78734005 THIS SECOND HOME RIDER is made this 12TH day of NOVEM BEll, 2004, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Dccd ol~ Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (tile "Borrm¥cr," whether there are one or more persons undersigned) to secure Borrower's Note to FIRST NATIONAL II A N K-WEST (the "Lender") of the same date and covering the Property described in the Security Instrument (thc "Prt.pcrty"), which is located at: BY Rider. 770 VISTA DRIVE~ THAYNE~ WYOMING 83127 [Property Address] In addition to the covenants and agreements made in the Securily h~stmment, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrmncnt are deleted and are replaced by the following: 6. Occupancy. Borrower shall occupy, and shall only use, thc Property as Borrower's second home. Borrower shall keep the Property available for Borrower's cxclu~i¥¢ use and enjoyment at all times, and shall not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rcm thc ?ropcrty or give a management firm or any other person any control over the occupancy or use of thc Property. 8. Borrower's Loan APPlication. Borrower shall be in default it', during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's second home. SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Second Home (Seal) ROBERT POINI)I.~XTER -Borrower ELIZAB~ PO I N I ~EXTER ~'; -Borrower H'I~"-IDI ['OINi)EXTi,;R -Borrower MULTISTATE SECOND HOME RIDER--Single Family--Fannie Mae/Freddie r~l;~t. IiNIFORbl INSTRUMENT Form 3890 1/01 (page 1 of I page)