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HomeMy WebLinkAbout90472631241 RECEIVED 11/22/2004 at 10:27 AM RECEIVING # 904726 BOOK: 573 PAGE: 195 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY COURTESY RECORDING This document is being recorded solely as a courtesy and accommodation to the parties therein. Land Title Co. Hereby expressly disclaims any [esponsibility or liability for the accuracy content thereo/. Space Above This Line For Ret;,,~,ti~9 Data MORTGAGE (With Future Advance Ch.~,.;) DATE AND PARTIES. The date of this Mortgage (Security Instru~,,.~lt is NOVEMBER 11, 2004. The parties and their addresses are: MORTGAGOR: SUSAN K DUTRA Spouse of GREGORY DUTRA PO BOX 5018 ETNA, Wyoming 83118 LENDER: FIRST NATIONAL BANK - WEST Organized and existing under the laws of the United States ,-,l .,%~erica 100 Greys River Road / Alpine, Wyoming 83128 TIN: 83-0162601 1. CONVEYANCE. For good and valuable consideration, the receipl .,~1 .~ufficiency of which is acknowledged, and to secure the Secured Debts and Mortgager's performance un(h~ ~lfis Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the pov..,.~ ,)1 sale, the following described property: LOT 130, STAR VALLEY RANCH, PLAT 5, AS PLATTED AND t;I:CORDED IN THE OFFICIAL RECORDS OF LINCOLN COUNTY, WYOMING The property is located in LINCOLN County at 151 LILAC DRIVE, TI t/,',,'NE, Wyoming 83127. Together with all rights, easements, appurtenances, royalties, n-n~,,:~;d rights, oil and gas rights, all water and riparian rights, wells, ditches and water stock and all existing and tt,~u~e improvements, structures, fixtures, and replacements that may now, or at any time in the future, be parl ,,1 Ihe real estate described (all referred to as Property). This Security Instrument will remain in effect until tll~: ;,:~:ured Debts and all underlying agreements have been terminated in writing by Lender. 2. MAXIMUM OBLIGATION LIMIT. The total principal amount sec~,:,i l)y this Security Instrument at any one time will not exceed $23,000.00. This limitation of amount does not in~ t~h~ interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation do,:. ~,)t apply to advances made under the terms of this Security Instrument to protect Lender's security and to i),~I,,~r~ any of the covenants contained in this Security Instrument. 3. SECURED DEBTS. This Security Instrument will secure the follov..i~ ~!j Secured Debts: A. Specific Debts. The following debts and all extensio~., ~mewals, refinancings, modifications and replacements. A promissory note or other agreement, No. 7~;.]~)02496, dated November 11, 2004, from Mortgagor to Lender, with a maximum credit limit of $23,000.~)~). One or more of the debts secured by this Security Instrument contains a future advance provision. B. All Debts. All present and future debts from Mortgagor to I ,,~(h~,r, even if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or ~,l ~, ~tifferent type than this debt. If more than one person signs this Security Instrument, each agrees that it ,~.~11 s~;cure debts incurred either individually or with others who may not sign this Security Instrument. No~l,i~,tl i~ this Security Instrument constitutes a commitment to make additional or future loans or advances. A]~, :,~:h commitment must be in writing. In the event that Lender fails to provide any required notice of the rigl,~ ,,f ~escission, Lender waives any subsequent security interest in the Mortgager's principal dwelling that is cr~,,~,.~l by this Security Instrument. This Security Instrument will not secure any debt for which a non-posse?,,,,~,/, non-purchase money security interest is created in "household goods" in connection with a "consumer I,,,~)," ns those terms are defined by federal law governing unfair and deceptive credit practices. This Security h~.;~tm)ent will not secure any debt for which a SUSAN K DUTRA Wyoming Mortgage WY/4XDorettaO0815100004558019111604Y ©1996 Bankers Systems, ln~ , :[,,~J, MN ~'~." Initials Page 1 security interest is created in "margin stock" and Lender do,. ~,,~ obtain a "statement of purpose," as defined and required by federal law governing securities. C. Sums Advanced. All sums advanced and expenses inc:~,,:d t)y Lender under the terms of this Security Instrument. 4. PAYMENTS. Mortgagor agrees that all payments under ~1,~ v;~;cured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Securi~', It~;~rument. 5. PRIOR SECURITY INTERESTS. With regard to any other m~,~];~ie, deed of trust, security agreement or other lien document that created a prior security interest or encumbra~, ,~ ,~, the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply ~.~i, all covenants. B. To promptly deliver to Lender any notices that Mortgagor ~, ,:iw~s from the holder. C. Not to allow any modification or extension of, nor to ~,.,l~st any future advances under any note or agreement secured by the lien document without Lender's pri,,~ v~,~it~en consent. 6. CLAIMS AGAINST TITLE, Mortgagor will pay all taxes, a:,:., :,~;n~ents, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Prop,,~, when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts ~.,: ~Jc~e and the receipts evidencing Mortgager's payment. Mortgagor will defend title to the Property against a~,,,~ , I~i~s that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as requ,::,~,,d by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materi~,l.; t,, maintain or improve the Property. 7. DUE ON SALE. Lender may, at its option, declare the entire i~,l:~ce of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creatio~ ~,I. any ~ransfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by fed,~.,I law (12 C.F.R. 591), as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor has ~1~,: ~i~]ht and authority to enter into this Security Instrument. The execution and delivery of this Security Ins~,~,:n~ will not violate any agreement governing Mortgagor or to which Mortgagor is a party. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. r.]~,~t0agor will keep the Proper~y in good condition and make all repairs that are reasonably necessary. Mortgagor v,ill ~o[ commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Proper~, I~:~: of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not std,.:~:,n[ialiy change without Lender's prior written consent. Mortgagor will not permit any change in any license, t, :.~rictive covenan~ or easement without Lender's prior written consent. Mortgagor will notify Lender of all d,:t~,~]l{is, proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the I't,,l,erty at any reasonable time for the purpose of inspecting the Property. Lender will give Mortgagor notice a~ ~t~,: time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the i'~,~l~rty will be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform ~,t,,., dr]tV or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or ,..~;e ii,em to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgager's name or pay any ;,~,,,,u~t necessary for performance. Lender's right to perform for Mortgagor will not create an obligation to perfon~,, ~ct Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the h~'.,. ~)~ ~l~is Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonabl,: ~a~ner, Lender may take all steps necessary to protect Lender's security interest in the Property, including coml,l,.ti,~ of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor as~.i~;, grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title a~] ~terest in the following (Property): existing or future leases, subleases, licenses, guaranties and any othe~ ,,'~.~i~en or verbal agreements for the use and occupancy of the Property, including any extensions, renewals, ~,~liiications or replacements (Leases); and rents, issues and profits (Rents). In the event any item listed as Lea~;,:. ,,r Ren~s is determined to be personal property, this Assignment will also be regarded as a security agreement. ~.1,,~ ~fjaoor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correc~ , ,q)ies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any oth,~ i~[~rmation with respect to these Leases will be provided immediately after they are executed. Mortgagor may ~.,,~t,:~:~, receive, enjoy and use the Rents so long as Mortgagor is not in default. Upon default, Mortgagor will receiv,~ ~y Rents in trust for Lender and Mortgagor will not commingle the Rents with any other funds. Mortgagor a~]~,.,,~; that this Security Instrument is immediately effective between Mortgagor and Lender. This Security Ins~t~,~t will remain effective during any statutory redemption period until the Secured Debts are satisfied. As I,,~t] as this Assignment is in effect, Mortgagor warrants and represents that no default exists under the Leas~:.,, ;~t~t ~l~e parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and 12. MORTGAGE COVENANTS. Mortgagor agrees that the c:,,',.',~anzs in this Security Instrument are material obligations under the Secured Debts and this Security Instrun~,:~t. If Mortgagor breaches any covenant in this Security Instrument, Lender may refuse to make additional exIc:~,.~,~; of credit or may reduce the credit limit. By not exercising either remedy on Mortgager's breach, Lender d,,~:., ~ot waive Lender's right to later consider the event a breach if it happens again. 13. DEFAULT. Mortgagor will be in default if any of the followi~,,t ,,~:~:t~r: A. Fraud. Mortgagor engages in fraud or material misreprese~ ~.,~n in connection with the Secured Debts. B. Payments. Any party obligated on the Secured Debts faih, ~,, ~ke a payment when due. C. Property. Any action or inaction occurs that adversely afl~.,, ~:. tl~o Property or Lender's rights in the Property, 14. REMEDIES ON DEFAULT. In addition to any other re~,:,lv available under the terms of this Security Instrument, Lender may accelerate the Secured Debts and fore~:l,~,.,~ this Security Instrument in a manner provided SUSAN K DUTRA Wyoming Mortgage Initials~ WY/4XDoretta ,: 4558019111204Y ~1996 Ba~"~'~;~tem:~ ~ ~.;~. Cloud, MN ~ ';:~'~ ~ Page 2 by law if Mortgagor is in default. In some instances, federal an, I 5.~;~te law will require Lender to provide Mortgagor with notice of the right to cure, or other notices and may establi:.l, ti~ne schedules for foreclosure actions. At the option of the Lender, all or any part of the agreed fe,:.: ;,.t charges, accrued interest and principal will become immediately due and payable, after giving notice if re,l~i~,:d by law, upon the occurrence of a default or anytime thereafter. Lender will be entitled to, without limitati¢,,, ~1~ power to sell the Property. Upon any sale of the Property, Lender will make and deliver a special or limited v.';,~¢mHy deed that conveys the property sold to the purchaser or purchasers. Under this special or limited warrings, ~h;ed, Lender will covenant that Lender has not caused or allowed a lien or an encumbrance to burden the P~,,I,,~f[¥ and that Lender will specially warrant and defend the Property's title of the purchaser or purchasers at tl,,~ :;~d~; against all lawful claims and demand of all persons claiming by, through or under Lender. The acceptance by Lender of any sum in payment or partial pa¥~,,.~t on ~he Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will ~,~ constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any ~,:~cd¥ on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it hal~l¢,:lh'; again. 15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FI ~S; COLLECTION COSTS. If Mortgagor breaches any covenant in this Security Instrument, Mortgagor agrees to i,:,,,' all expenses Lender incurs in performing such covenants or protecting its security interest in the Property. t;~,:t~ expenses include, but are not limited to, fees incurred for inspecting, preserving, or otherwise protecting the. Ih,,i,~rty and Lender's security interest. Mortgagor agrees to pay all costs and expenses incurred by Lender in coil I.~!j, enforcing, or protecting Lender's rights and remedies under this Security Instrument. Expenses include, but ;,~,: ~ot limited to, attorneys' fees, court costs and other legal expenses. These expenses are payable on demand ~,~,,1 will bear interest from the date of payment until paid in full at the highest interest rate in effect as provided i~,~ i~ the terms of Secured Debts. To the extent permitted by the United States Bankruptcy Code, Mortgagor a~i~,.,:.'; to pay the reasonable attorneys' fees Lender incurs to collect the Secured Debts as awarded by any .court ,~. ,:~ci.~;ing jurisdiction under the Bankruptcy Code. This Security Instrument will remain in effect until released. M,,~ I,:l,(jor agrees, to pay for any recordation costs of such release. 16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCE!;. A.,; used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental R,: I,,,n.';e, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local law.:, ~;gulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public I,..,Itl~, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, ra~Ji,~.,:live or hazardous material, waste, pollutant or contaminant which has characteristics which render the substa~,, ,~ ~hmgerous or potentially dangerous to the public health, safety, welfare or environment. The term includes;. ,.:ithout limitation, any substances defined as "hazardous material," "toxic substance," "hazardous waste," 'l,;,/ardous substance," or "regulated substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writi**~l t~ t_ender, no Hazardous Substance is or will be located, stored or released on or in the Property. This ~,:.~riction does not apply to small quantities of Hazardous Substances that are generally recognized to be ~,l,i,~,q)riate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in w~iti~,!l to Lender, Mortgagor and every tenant have been, are, and will remain in full compliance with any applicat,l., I ~vironmental Law. C. Mortgagor will immediately notify Lender if a release or tl,,,;~oned release of a Hazardous Substance occurs on, under or about the Property or there is a violation of a~,,. [ ~,vironmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial ac~,,,~ i~ accordance with any Environmental Law. D. Mortgagor will immediately notify Lender in writing as s,,,,,t ;,,.; Mortgagor has reason to believe there is any pending or threatened investigation, claim, or proceeding r,:f,,~i~,l to the release or threatened release of any Hazardous Substance or the violation of any Environmental t ~,'~,~'. 17. CONDEMNATION. Mortgagor will give Lender prompt notice, ,,f any pending or threatened action by private or public entities to purchase or take any or all of the Property tlt¢,~tjll condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgag~':; ~ame in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any ,,vv,rd or claim for damages connected with a condemnation or other taking of all or any part of the Properly. ~;t,:h proceeds will be considered payments and will be applied as provided in this Security Instrument. This as'.,i!l~,~ent of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien 18. INSURANCE. Mortgagor agrees to keep the Property insur,:,] ,gainst the risks reasonably associated with the Property. Mortgagor will maintain this insurance in the amount:, I ,:~lder requires. This insurance will last until the Property is released from this Security Instrument. What Lend,.:r ;,:,.tt!ires pursuant to the preceding two sentences can change during the term of the Secured Debts. Mortgan,,~ ~,y choose the insurance company, subject to Lender's approval, which will not be unreasonably withheld. /'dl insurance policies and renewals will include a standard "mortgage clause" and, where applicable, "loss payee Mortgagor will give Lender and the insurance company immedi,,~,: notice of any loss. All insurance proceeds will be applied to restoration or repair of the Property or to the Se~:t~,,,d Debts, at Lender's option. If Lender acquires the Property in damaged condition, Mortgagor's rights to any i~,t,~ ~,~ce policies and proceeds will pass to Lender to the extent of the Secured Debts. Mortgagor will immediately notify Lender of cancellation or len~, ,:,rich of insurance. If Mortgagor fails to keep the Property insured Lender may obtain insurance to protect Lemh¢~'~; i~terest in the Property. This insurance may include coverages not originally required of Mortgagor, may h~: v./~ilten by a company other than one Mortgagor would choose, and may be written at a higher rate than M,,tl!ji,~.jor could obtain if Mortgagor purchased the insurance. SUSAN K DUTRA Wyoming Mortgage WY/4XDoretta00815100004558019111204Y ©1996 Bankers System ! .... %t. Cloud, MN FJO--'-~5~~ Initials ~-~ Page 3 19, ESCROW FOR TAXES AND INSURANCE. insurance in escrow. Mortgagor will r,~t J~. required to pay to Lender funds for taxes and 20. CO-SIGNERS. If Mortgagor signs this Security Instrumer~ I,,~ (toes not sign the Secured Debts, Mortgagor does so only to mortgage Mortgagor's interest in the Propels,, t,) secure payment of the Secured Debts and Mortgagor does not agree to be personally liable on the SecLl~,,J J)ui)ts. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees l,, ,~,.;~ive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party ~<I~:J)led under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action 21. WAIVERS. Except to the extent prohibited by law, Mortg~!~.,[ vwdves all homestead exemption rights relating to the Property. 22. OTHER TERMS. The following are applicable to this Securi~,,' I~;~rument: A. Line of Credit. The Secured Debts include a revolving li~,. ,,I (;redit provision. Although the Secured Debts may be reduced to a zero balance, this Security Instrument v..~lt ~,;~i~ain in effect until the Secured Debts and all underlying agreements have been terminated in writing by 23. APPLICABLE LAW. This Security Instrument is governed !,',' lhe laws of Wyoming, except to the extent otherwise required by the laws of the jurisdiction where the Prol,,, ~, i~ located, and the United States of America. 24. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. t .,,:1~ Mortgagor's obligations under this Security Instrument are independent of the obligations of any other Mor]tl.,,i,~. Lender may sue each Mortgagor individually or together with any other Mortgagor. Lender may release a~,, I,;,L of the Property and Mortgagor will still be obligated under this Security Instrument for the remaining P~'I,.'~'. The duties and benefits of this Security Instrument will bind and benefit the successors and assigns of L~.~,,l,.~ and Mortgagor. 25. AMENDMENT, INTEGRATION AND SEVERABILITY. 'This $,;. ~{¥ Instrument may not be amended or modified by oral agreement. No amendment or modification of this Sec/~ ;' h)strument is effective unless made in writing and executed by Mortgagor and Lender. This Security Instru~,~,.[~l i~; the complete and final expression of the agreement. If any provision of this Security Instrument is uner~l,.~,:,~,l)le, then the unenforceable provision will be severed and the remaining provisions will still be enforceable. 26. INTERPRETATION. Whenever used, the singular includes ~1~,. i)lural and the plural includes the singular. The section headings are for convenience only and are not to be u.'~, ,t ~) interpret or define the terms of this Security Instrument. 27. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCLJI.,IJ NTS. Unless otherwise required by law, any notice will be given by delivering it or mailing it by first class ~,.,~1 l,~ [he appropriate party's address listed in the DATE AND PARTIES section, or to any other address designate,l ~, writing. Notice to one party will be deemed to be notice to all parties. Mortgagor will inform Lender in writi~,,! ,)1 ,~y change in Mortgagor's name, address or other application information. Mortgagor will provide Lend,:[ .,~, linancial statements or information Lender requests. All financial statements and information Mortga!l,,~ !Jivos Lender will be correct and complete. Mortgagor agrees to sign, deliver, and file any additional doc~,,~t.s or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's oblig,~,,~ J~; under this Security Instrument and to confirm Lender's lien status on any Property. Time is of the essence. SIGNATURES. By signing, Mortgagor agrees to the terms and , ,,w;~)a~)ts contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy of this Security IJ ORTG/~OR: SUSA~N K DUTRA Individually LENDER: First ~fi-~ Bank - We,~p, Penny Jo~state Loan Officer SUSAN K DUTRA Wyoming Mortgage WY/4XD°rettaI"~"i!~.. ,.: i, " .~'104558019111204Y Initials~') Page 4 ©1996 Ba~'~,'2,.-,-tem ~ Cloud MN ACKNOWLEDGMENT. (Individuall This instrument was acknowledged~efore me this SUSAN K DUTRA , spouse of GREGORY DUTRA. My commission expires: OF (Not~ ' C~ SS. I'uhlic) by (Lender Acknowledgment) This instrument was ackr{owledged~before me this / Itwt~ ,lnv of Penny Jones as Real Estate Loan Officer of First National Bank My commission expires: (Notal I'tlt)lic) SS by SUSAN K DUTRA Wyormng Mortgage WY/4XDorettaO0815100004558019111604Y Initials ©1996 Bankers Svsten ;luud Mk ~,<'~--~" Page 5 ;4.:,;::' ~ T:::::": PLANNED UNIT DEVELOPiViENT RIDER '0£'50 THIS PLANNED UNIT DEVELOPMENT RIDER is made this 11 it~ ~hly of November 2004. and is incorporated into and shall be deemed to amend and supplement the Mortgag,- Ih,.d of Trust or Security Deed (the "Security Instrument") of the same date, given by the undersigned (the 'l',,dlower") to secure Borrower's Note to First National Bank - West (the "Lender") of the same date and c~,.., ru~.! the Property described in the Security Instrument and located at: 151 LILAC DRIVE, THAYNE, W,,',,~,i~.l 83127 [Property Addres.~; I The Property includes, but is not limited to, a parcel of land iml,r,,ved with a dwelling, together with other suCh parcels and certain common areas and facilities, as described in (~1,: "Declaration"). The Property is a part of a planned unit development known as STAR VALLEY RANCIII :; [Name of Planned Unit Dev~h (the "PUD"). The Property also includes Borrower's interest i~ ~1~,: I~omeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (~1., "()whets Association") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreen,,.~,~; ~acte in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Borrower's oblit~.,~,,~; under the PUD's Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii) arti~ I,::~ of incorporation, trust instrument or any equivalent document which creates the Owners Association; and ira) ,~y by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when du~;. ,,11 dues and assessments imposed pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Association maim,~ :, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is sa~i:.l:,:iory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the pe~i,,,I..;, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, inch,li~l, I)ut not limited to, earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives the i,,,v~.~;ion in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance ,,~ i l~e Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the P~',I,,iY 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 ,l~,i~.q the term of the loan. Borrower shall give Lender prompt notice of any lapse in reqLm, :(I I)roperty insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds i~J li(;u of restoration or repair following a loss to the Property, or to common areas and facilities of the PUD, any p~,,, ,,~d~; payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to ~1~,~ ~;ums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions ,:, ~y be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptai)h: i~ lorm, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for dama!l~,.,. (ti~(~.ct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any l~.J~i of tile Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condem~,~,,J~, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums s~:, ~,~:(I hy the Security Instrument as provided in Section 1 1. Form 3150 1/01 II11 II11 IIII I11111 IIII III RA2AO MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WY/4XDorettaOO8151OO004558019111604N Bankers Systems, Inc., St. Initials Page Lender and with Lender's prior written abandonment or termination of the PUD, substantial destruction by fire or other E. Lender's Prior Consent. Borrower shall not, except after consent, either partition or subdivide the Property or consent to: . except for abandonment or termination required by law in the casualty or in the case of a taking by condemnation or eminent do~,,.,,~ (ii) any amendment to any provision of the "Constituent Documents" if the provision is for the express be~, lJ~ uf Lender; (iii) termination of professional management and assumption of self-management of the Owners A',..,,ckdion; or (iv) any action which would have the effect of rendering the public liability insurance coverage mai~l.,~,.~(t by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessmr;~,~:, when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall bec~,,~ ~ddidonal debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to oth~ ~,~ns of payment, these amounts shall bear interest from the date of disbursement at the Note rate and sh:,lJ hu payable, with interest, upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW, Borrower accepts and agrees to the term.. ~,~(t provisions contained in this PUD Rider. K DUTRA - Borrower MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WY/4XDoretta00815100004558019111204N Bankers Systems, Inc., St Form 3150 1/O1 Initials ~'p Page 2 RELEASE AND N\'. ;~,"E R For good and valuable consideration, the receipt stl/'ficiency of which is ac ~knowledged, I 6r ~S ~ ~'c% , do hen.l,, l'orever release and waive all rights under and by virtue of the Homestead Ext. t il,ilt~n Laws of the State of Wyoming in regard to: LOT 130, STAR VALLEY RANCH, PLAT 5, AS PLATTED ^NI) RECORDED IN THE OFFICIAL RECORDS OF LINCOLN COUNTY, NYOI~ING together with all improvements thereto. Dated' This I I-~i'' day of lq~w,~¢.~,c _.. ? , STATE OF WYOMING ) SS COUNTY LINCOLN ) The foregoing instrument was acknowledged bt: ~,,~c ~c this WITNESS my hand and official seal. My C ommis sio~ 15;xp~ire ss..q,' Residing in~5~~ ~. Notary day of