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905011
Return To: Finance America, LLC P.O. BOX 16637 Irvine, Ca. 92623-6637 0034 Prepared By: Julia L Greenfield 16802 Aston Street Irvine, CA 92606 [Space Above This Line For Rec(~ rding Dam] MORTGAGE NIIN 100052300410055213 DEFINITIONS RECEIVED 12/3/2004 at 4:08 PM RECEIVING# 905011 BOOK: 574 PAGE: 34 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Words used in multiple sections of this document are defined bclmv and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding thc u.sagc of words used in this document are also provided in Section 16. (A) "Security Instrument" meansthis document, which is dated NOVEMBER 29, together with all Riders to this document. (B) "Borrower" is JENNIFER C. REDFIELD AND JOHN E. REDFIELD, WIFE AND HU S BAND 2004 Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. gl ERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-21 ~26, tel. (888) 679-MERS. WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS (~®-6A(WY) (ooos).o~ Page 1 of 15 Initials:~ VMP MORTGAGE FORMS - (800)521-7291)~1~ (/ - MABN Form 3051 1101 O905Oi.:1L (D) "Lender" is Finance America, LLC Lenderis a Limited Liability Company organized and existing under the laws of Delaware Lender's address is 16802 Aston Street, Irvine, CA 92606 (E)"Note" means the promissor.y note signed by Borrowerandtkilcd NOVEMBER 29, 2004 The Note states that Borrower owes Lender ONE HUNDRED FORTY THOUSAND EIGHT HUNDRED AND NO/100 Dollars (U.S. $ 140,800.00 ) plus interest. Borrower has p,',miscd to pay this debt in regular Periodic Payments and to pay the debt in fullnot later than DECEMBER 01, 2036 (F) "Property" means the property that is described below under thc heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus intercsl, a%, prepayment charges and late charges due under the Note, and aH sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument thai 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 R idc~ 1-4 Family Rider ~ VA Rider ~ Biweekly Payment Rider .~ Other(s) [specifyI Legal Desc. XX Prepayment Rider (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have thc cf fed of laxv) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" mc~tns all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited t,, point-of-sale tr.ansfers, automated teller machine transactions, transfers initiated by telephone, wire lransfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are describedin Sect ion 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under thc coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) nfisrcprcsentationsof, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender ;tgainst the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount duc for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real EstateSettlementProceduresAct (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), ;ts they nfight be amended from time to time, or any additional or successor legislation or regulation th;ll gm,ems the same subject matter. As used in this Security Instrument, "RESPA" refers to all requiremcnt~and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. Form 3051 1101 0 050 % t. 0036 (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note a,M,/o,' this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrumentsecures to Lender: (i) the repaymentof thc L,an, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrowc,"s covenants and agreements under this Security Instrumentand the Note. For this purpose, Borrower dt ~cs hereby mortgage, grant and convey to MERS (solely as nominee fo? 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] ,N. m c of Recording Jurisdiction] LEGAL DESCRIPTION ATTACHED HERETO AND MAI)E A PART HEREOF ParcellD Number: 36192330016800 138 GALLUP DR ETNA ("PropertyAddress"): 138 GALLUP DR, ETNA, [cit>l, WY 83118 which currently has the address of [Street] Wyoming 83118 [Zip Code] TOGETHERWlTH all the improvements now or hercaftcr erected on the property, and all easements, appurtenances, and £kxtures now or hereafter a part t)l' the property. All replacements and additions shall also be covered by this Security Instrument. All ,1' Iht fi~regoing is referred to in this Security Instrumentas the "Property." Borrower understandsand ;~grccs that MERS holds only legal title to the interests grantedby Borrowerin this Security Instrument, bm, il' necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and ,.~sigus) has the right: to exercise any or all of those interests, including, but not limited to, the right to fi~,'cclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWERCOVENANTSthat Borroweris lawfully seiscd ~1' thc estate hereby conveyed and has the right to mortgage, grant and convey the Property and that thc I'roperty is unencumbered, except for encumbrancesof record. Borrower warrants and will defend gencrall) the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. (~}~-6A(WY) (0005).01 Pas, 3 of 15 ......... ~ MAEX Form 3051 1/01 ODO,.%O L1. UNIFORMCOVENANTS. Borrower and Lender covenant iLntl agree as follows: 1. Payment of Principal, Interest, Escrow Items, Preln~.~tnent Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, thc debt evidenced by the Note and any prepayment charges and late charges due under the Not& Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this .%curity Instrument shall be made in U.S. currency. However, if any check or other instrumentreceived by kcndcr as payment under the Note or this Security Instrumentis returnedto Lender unpaid, Lender may require that any or all subsequentpayments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an inst it t,tion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemedreceived by Lender when received z~l thc location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the paymcnl t,' partial payments are insufficient to bring the Loan current. Lender may accept any payment or part i:LI payment insufficient to bring the Loan current, without waiver of any rights hereunderor prejudice to iix rtghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such 1~0 ments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled duc date, then Lender need not pay interest on unapplied funds. Lendermay hold such unappliedfund.~ until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable pc riod of time, Lender shall either apply such funds or returnthem to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosm'c. No offset or claim which Borrower might have now or in the future against Lender shall relieve Bo,'rowcr from making payments due under the Note and this Security Instrumentor performing the covenams and agreementssecuredby this Security Instrument. 2. Application of Payments or Proceeds. Except as olhcrwise described in this Section 2, all payments accepted and applied by Lender shall be applied in thc r~dlowing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due nnder 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, second to any other amounls due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may bc applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, I.cndermay apply any payment received from Borrower to the repayment of the Periodic Payments if, and I, lhe extent that, each payment can be paid in full. To the extent that any excess exists after the payment i.~ applied to the full payment of one or more Periodic Payments, such excess may be applied to any late clmrgc.~ clue. Voluntary prepaymentsshall be applied first to any prepayment charges and then as described i,~ the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change thc amoum, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender ~m the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") lo provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrumentas a lien or encumbranceon the Property; (b)leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Len&'r in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Lo:m, l.cnder may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds I'or Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrox~ Ilcms. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at :my time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay direcl ly, when and where payable, the amounts Form 3051 1/01 O 050 L due for any Escrow Items for which payment of Funds has been w, ivcd by Lender and, if Lenderrequires, shall furnish to Lender receipts evidencing such payment within ~uch time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemedto be a covenant and agreementcontainedin this Security Instrumcm, .,s die phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow IIcms directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated unclcr ,gcction 9 to repay to Lender anY such amount. Lender may revoke thb waiver as to any or all Escrl~w Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an am~u re(a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to c×cccd the ~naximum amount a lender 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 mhcrwise in accordance with Applicable Law. The Funds shall be held in an institution whose dcpt~sits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an insti~ ul itm whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay Ibc Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for Imlding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, tm lc,~s Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreementis made in writing or Applicable Law requiresinterest to be paid on the Funds, Lcnclcr shall not be requiredto pay Borrower any interest or earnings on the Funds. Borrower and Lender c:m .grce in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, withtmt charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined trader RESPA, Lender shall account to Borrower for the excess funds in accordancewith RESPA, If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amountnecessary to make up the shortage in accord.ncc with RESPA, but in no more than 12 monthly payments. If thereis a deficiency of Funds held in escrt~w, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall p,y ~t~ Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more th;.a 12 monthly payments. Upon payment in full of all sums secured by this Security In~l rument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assc~mcnts, charges, fines, and impositions attributable to the Property which can attain priority over this ~ccurity Instrument, leasehold payments or ground rents on the Property, if any, and CommunityAssociatkm Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall p.y Ihcm in the manner provided in Section 3. Borrower shall promptly discha~:ge any lien which has prit~rity over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation sc c u red by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agrccmcm; (b) contests the lien in good faith by, or defends against enforcementof the lien in, legal proceedings which in Lender's opinion operateto prevent the enforcement of the lien while those proceedings arc pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agrcc m cnt s~tisfactory to Lender subordinating the lien to this Security Instrument. If Lender determinesthat ..y part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender m.y give Borrower a notice identifying the Initials: ~7~ ~-6A(WY)[viAi I (ooo5).Ol Page 5 of 15 , ~. ~ Form 3051 1101 0039 lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time chargv for ~ real estate tax verification and/or reporting ~ervice used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereaftererected on the Property insured against loss by fire, hazards included wit h in thc term "extended coverage," and any other hazards including, but not limited to, earthquakesand flt~ods, for which Lender requires insurance. This insurance shall be maint~iinedin 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 the insurance shall bc chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall nt~l bc exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a on c4im c charge for flood zone determination and certification services and subsequent charges each time rcmappings or similar changes occur which reasonably might affect such determination or certification. B~rrower shall also be responsible for the payment Of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an object km by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's 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 not protect Borrower, Borrower's equity in the Property, or thc c, relents of the Property, against any risk, hazard or liability and might provide greater or lesser coverag~ Ihan 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 Lender under this Section 5 shall become additional debt of Borrower secured by this Security Ina rument. These amounts shall bear interest at the Note rate from the date of disbursementand shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals o1' ~uch policies shall be subject to Lender's right to disapprove such policies, shall include a standard morlgnge clause, and shall name Lender as mortgagee and/oras an additionalloss payee. Lender shall have thc right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance cm'c rngc, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss p%,ce In the event of loss, Borrower shall give prompt notice ~o Ibc insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unlcss Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was requiredby Lender, shall be applied to restorationor repair of the Property, if the restorat ~on 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 insurance proceeds until Lender has had an oppormnky tt~ inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and rca t~ration in a single payment or in a series of progress payments as the work is completed. Unless an agrccmcnfis madein writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender ,hall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjuacrs, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds anti droll bc the sole obligation of Borrower. If the restorationor repair is not economically feasible or Lendcr'~ security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Insl rument, whether or not then due, with NAKF Form 3051 1/01 0 40 the excess, if any, paid to Borrower. Such insurance proceeds shall bc applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, ncgt~tiatc and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may ncg,,tiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or il~ 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 nnpaid under Ibc Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, i,~st,ktr as such rights are applicable to the coverage of the Property. Lender may use the insuranceproceeds either to repair or restorethe Property or to pay amonnts unpaid under the Note or this Security Instrumc,~t whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and usc thc Property as Borrower's principal residence within 60 days after the execution of this Security Instrumcnt and shall continue to occupy the Property as Borrower's principal residence for at least one year al'tot the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unrcastmably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. ' 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property 1,~ deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Bt)rrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is nt,t economically feasible, Borrower shah promptly repair the Property if damaged to avoid further dc~cri~ration or damage. If insurance or condemnationproceeds are paid in connection with damage to, ~r II~c taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only il' Lender has releasedproceeds for such purposes. Lender may disburse proceedsfor the repairs and restc, ral ion in a single payment or in a series of progress payments as the work is completed. If the insurance or c~mlcmnationproceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improve m cuts on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspccl ilm specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in dcktult if, during the Loan application process, Borrower or any persons or entities acting at the dircc'tio,~ of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccu rat c information or statementsto Lender (or failed to provide Lender with material information) in ctmnection with the Loan. Material representationsinclude, but are not limited to, representationsctmccrning 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 agreementscontaincd in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's inl crc st in the Property and/orrights under this Security Instrument(such as a proceeding in bankruptcy, probate, for condemnationor forfeiture, for enforcement of a lien which may attain priority over this Sccurily Instrument or to enforce laws or regulations), or (c) Borrower has abandonedthe Property, then kcnder may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the P,'~q)crty and rights under this Security Instrument, including protecting and/orassessing the value of thc Property, and securing and/orrepairing the Property. Lender's actions can include, but are not limited t~: (a) paying any sums securedby a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable (~-6A(WY) (0005).01 Page 7 of 15 ~ Form 3051 1/01 ,. 0041 attorneys' fees to protect its interest in the Property and/orrights Lmd cr this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the I'rol)crty includes, but is not limited to, entering the Property to make repairs, change locks, replace or I)tmrd u1) doors and windows, drain water from pipes, eliminate building or other code violations Or dangcrmts conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this 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 intcrcs! at the Note rate from the date of disbursement and shall be payable, with such interest, upon nolicc 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 leaselmhl and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If LenderrequiredMortgage Insttr~mce as a condition of making the Loan, Borrower shall pay the premiumsrequired to maintain the Mortg,gc lnsurancein effect. If, for any reason, the Mortgage Insurance coverage requiredby Lender ceases to be ,vail able from the mortgage insurer that previously provided such insurance and Borrower was required It~ make separately designated payments toward the premiums for Mortgage Insurance, Borrower shz, ll pity the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance prcvi.usly in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of thc separately designatedpayments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundableloss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimzttcly paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss ~cscrvc. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lende, requires) provided by an insurer selected by Lender again becomes ava)l,l,lc, is obtained, and Lender requires separately designated payments toward the premiumsfor Mortgage I nst,rance. If Lender requiredMortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrmvcr shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-rcfu,~dable loss reserve, until Lender's requirementfor Mortgage Insurance ends in accordancewith any writt c,~ agreementbetween Borrower and Lender providing for such terminationor until terminationis required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the ral c l~rovided in the Note. Mortgage Insurance reimburses Lender (or any entity thai purchases the Note) for certain losses it may incur ff Borrower does not repay the Loan as agreed. Bt~rrowcr is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreementswith other parties that share or modify the i r risk, or reducelosses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreementsma, y require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of thc Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may rccclvc (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurcr's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "c~q~tive 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 amount Borrower will owe for Mortgage Insurance, and they will not enlitle Borrower to any refund. (~-6A(WY) (ooos).ol Page 8 of 15 -- Form 3051 1101 0C42 (b) Any such agreements will not affect the rights Borrm¥cr has - if 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 Insurance, to have the Mortgage Insurance' terminatt, dm, tmnatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearfn, d at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shah be paid to Lender. If the Property is damaged,'such Miscellaneous Proceeds sh,II be applied to restorationor repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restorationperiod, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property h~ ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undcrl;&cnpromptly. Lender may pay for the repairs and restoration in a single disbursement or in a series rd' progress payments as the work is completed. Unless an agreementis made in writing or Applicable [xtw requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Bt,'rmvcr any interest or earnings on such Miscellaneous Proceeds. If the restorationor repair is not econom ic:d ly feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the .~u ms secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shah be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in x'ahm of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security In st r u m ent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value t~l' Ihe Property in which the fair market value of the Property immediately before the partial taking, dc.qrudion, or loss in value is equal to or greater than the amount of the sums secured by this Security ln.qrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender .dmrwise agree in writing, the sums secured by this Security Instrument shall be reduced by the ;,ntmnt of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of thc sums secured immediately before the partial taking, destruction, or loss in value divided by (b) ibc fair market value of the 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 Property in which the fair market value of the Property immediately before the partial taking, de.qr,ction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums arc then due. If the Property is abandoned by Borrower, or if, after re,icc by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make [t, award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date (l~c notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to resttu'alttm or repair of the Property or to the sums securedby this Security Instrument, whether or not then duc. "() ppt~sing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party againsl xvhcm~ Borrower has a right of action in regard to Miscellaneous Proceeds. .. Borrower shah be in default if any action or proceeding, whc~ her civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property t,' other material impairment of Lender's interest in the Property or rights under this Security Instrument. B~,'rowcr can cure such a default and, if accelerationhas occurred, reinstate as provided in Section 19, by c;m~iug the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfcil ute 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 attributableto the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. AH Miscellaneous Proceeds that are not applied to res(or;ditto or repair of the Property shall be applied in the order provided for in Section 2. (~)~-6A(WY) (ooo5).ol Pag~ 9 of 15 In,tials:¢ FIAPK Form 3051 1101 12. Borrower Not Released; Forbearance By Lender No! il Waiver. Extension of the time for payment or modification of amortizationof the sums securedby this Security Instrumentgrantedby Lender to Borrower or any Successor in Interest of Borrower shall not ts pc rate to release the liability of Borrower or any Successors in Interest of Borrower. Lender sham not be rc'quired to commenceproceedings against any Successor in Interest of Borrower or to refuse to extend tim: for payment or otherwise modify amortizationof the sums securedby this Security Instrumentby r~';~on of any demandmadeby the original Borrower or any Successors in Interest of Borrower. Any forbc~r~nccby Lender in exercising any right or remedy including, without limitation, Lender's acceptance ol' i~:~vmcnts from third persons, entities or Successors in [nterestof Borrower or in amountsless than the am~imt then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors ami Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrowerwho co-signs this Security Instrument but does not execute the Nt~lc (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-~ig,~cr's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums securedby this Security Instrument; and (c) agrees that Lender and any other Borrower can ~gree to extend, modify, forbear or make any accommodationswith regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in I,~terest of Borrower who assumes Borrower's obligations under this Security Instrumentin writing, ~,~d is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrumc~t unless Lender agrees to such releasein writing. The covenants and agreements of this 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 fi~r ~crvices performed in connection with Borrower's default, for the purpose of protecting Lender's interest i,~ the Property and rights under this Security Instrument, including, but not limited to, attorneys' foci. pr/~perty inspection and valuation fees. In regard to any other fees, the absence of express authority in Ihis Security Instrumentto charge a specific fee to Borrower shall not be construed as a prohibition on the ch argi ng of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan ch z~ rgc~, and that law is finally interpretedso that the interest or other loan charges collected or to be colleclcd in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduc'cd by tl~e amount necessary to reduce the charge to the permittedlimit; and (b) any sums already collectc~ fromm Borrowerwhich exceeded permitted limits will be refunded to Borrower. Lender may choose to m~d~c this refund by reducing the principal owed under the Note or by making a direct payment to Borr~wcr. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower'~ ~cccptance of any such refund made by direct payment to Borrower will constitute a waiver of any right ~l' actioix Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender i~ con,~ection with this Security Instrument must be in writing. Any notice to Borrowerin connectionwith ~hi~ Security Instrumentshall be deemedto have been given to Borrower when mailed by first class mail ~r when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrowcr ~hall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by m~icc to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specific~ ~ procedure for reporting Borrower's change of address, then Borrower shall only report a change of :tddrcss through that specified procedure. There may be only one designated notice address under this ~cc'uri~y Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing i~ by first class mail to Lender's address stated herein unless Lender has designated another addres.~ by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed t~ have been given to Lender until actually received by Lender. If any notice required by this Security In~l rumcntis also required under Applicable Law, the Applicable Law requirement will satisfy the corrc~D~nding requirement under this Security Instrument. (~)~-6A(WY) (ooo5).o~ Page lO of 15 In,tials:_~ ~tARI Form 3051 II01 0044 16. Governing Law; Severability; Rules of Construcli,n. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which Ibc Property is located. All rights and obligations contained in this Security Instrument are subject h~ any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly ;,llow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohil,ition against agreementby contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Sect,,'it~ luslrumentor the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the m;~sculine gender shall 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 ol' Ihc Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in thc Property, including, but not limited to, those beneficial interests transferredin a bond for deed, contriver l'or deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by B~rrowcr at a future date to a purchaser. If all or any part of the Property or any Interestin the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is st,ltl or transferred) without Lender's prior written consent, Lender may require immediate payment in ful of all sums secured by this Security Instrument. However, this option shall not be exercised by l.cndcr if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower n t~licc of acceleration. The notice shall ~ provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security [nstrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender ma~ invoke any remedies permitted by this Security Instrument without further notice or demand on Borrowcr. 19. Borrower's Right to Reinstate After Acceleration. Il' Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pttr.suant to any power of sale containedin this Security Instrument; (b) such other period as Applicable L;tw might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment cnft~rcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrumentand the Note as if no accelerationhad occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuati~,n fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and righl~ under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure thai Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation Itl pay the sums secured by this Security Instrument, shall continue unchanged. Lendermay require that [h~rrowerpay such reinstatementsums and expenses m one or more of the following forms, as selected bx. l.cnder: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, i,~s~ rumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatementby Borrower, this Security lnstrumentand obligations secured hereby shall remain fully effective as if no acceleration had occurred, l lt~wcver, 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 Gricv;mce. The Note or a partial interest in the Note (together with this Security Instrument)can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known ,~ the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrumcn! 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 unrelatedto a sale of thc Note. If there is a change of the Loan Servicez, 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 m;tdc and any other information RESPA (~-6A(WY) (ooos).o~ Page 11 of 15 Inltlals:~ i'4ASX Form 3051 1101 requires in connection with a notice of transfer of servicing. If thc Note is sold and thereafterthe Loan is serviced by a Loan Servicer other than the purchaser of the Note, thc mortgage loan servicing obligations to Borrower will remainwith the Loan Servicer or be transferrcd lt~ ~ successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by thc Note purchaser. Neither Borrower nor Lender may commence, join, or be joiacd to any judicial action (as either an individual litigant or the member of a class) that arises from thc other party's actions pursuant to this Security Instrumentor that alleges-that the other party has breached ztny provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirementsof Section 15) ~l' 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 befi,'c certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy thc n~icc and opportunity to take corrective action provisions of this Section 20. 21, Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, t~r wasles by EnvironmentalLaw and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fi~rmaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws andlaws of thejurisdictitm where the Propertyis located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Envir o n m cnt al Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threatento release any HazardousSubstances, on ~)r in thc Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an EnvironmentalCondition, or (c) which, duc to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects thc value of the Property. The preceding two sentences shall not apply to the presence, use, or storage o~ Ihe Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or priutl c party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any EnvironmentalCondition, including but not limited to, any spilling, leaking, discharge, releaseor threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a HazardousSubstance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, Ihat any removal or other remediation of any HazardousSubstance affecting the Property is necessary, B~r rower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. (~-6A(WY) (ooo5).ol Page 12 of 15 m~uals:~ Form 3051 1101 0046 NON-UNIFORMCOVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Ilm'rower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a dale, not less than 30 days from the date the notice is given to Borrower, by which the default must bc cured; and (d) that failure to cure the default on or before the date ~pecified in the notice may resull in acceleration of the sums secured by this Security Instrument and sale of the Property. The not(ct, shall further inform Borrower of the right to reinstate after acceleration and the right to bring .q omrt 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 date specified in the notice, Lender at its option ma.~ 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 La~.. Lt'nder shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Scclion 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give m~ticc of iatent 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 manncr provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sohl in Iht manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of tlw sale, iucluding, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Secm*ity Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Uponpayment of all sums securedby this $ccurity .Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services renderedand the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. (~-6A(WY) (ooo5).Ol Page 13 of 15 Initials:~ Form 3051 t/0t 0547 BY SIGNING BELOW, Borrower accepts and agrees h) lhc terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: fN~ IFER ~. REDFIELD -Borrower '/ /~.. t_ /~HN E. REDFIELD (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Bo~ro,~er (~-6A(WY) (ooo5).o~ MAYF Page 14 of 15 Form 3051 1101 0'©48 STATE OF WYOMING, The foregoing instrument was acknowledged before me th is County ss: t s-c pfc, ~ 2.~ ¥ My Commission Expires: ~"'/O - 0 ~ ~-6A(WY) (OOOS).ol MBAA Page 15 of 15 Form 3051 1101 Exhibit "A" Lot 182 in Nordic Ranches Division No. official plat thereof. 13, Lincoln County, Wyoming as described on the .:' r 50 RECORDING REQUESTED BY, AND WHEN RECORDED MAIL TO: Finance America, LLC P.O. Box 16637 Irvine, Ca 92623-6637 above this line for Recorder's usc) PREPAYMENT RIDER MIN 100052300410055213 DATE: 11/29/04 FOR VALUE RECEIVED,the undersigned ("Borrower") agree(s) lhat the following provisions shall be incorporatedinto and shall be deemed to amend and supplem c n l ~h c Mortgage, Deed of Trust or Security Deed of even date herewith (the "Security Instrument") execu(cd by Borrower, as trustor, in favor of Finance America, LLC ("Lender"), as beneficiary, and also into that certain promissory note (thc "Note") of even date herewith executed by Borrower in favor of Lender. To the extent that the provisions rd' this Prepayment Rider are inconsistent with the provisions of the Security Instrument and/orthe Note, thc provisions of this Prepayment Rider shall prevail over and shall supersede any such inconsistent provisions of the Security Instrument and/or the Note. Section 5 . of the Note'is amended to read in its entirety a.s follows: FIRST MORTGAGE 1196181 (0203) ATUX Page 1 of 2 VMP MORTGAGE FORMS - (800)521-7291 MULTISTATE (09/10/96) "5 . BORROWER'S RIGHT TO PREPAY; PREPAYMENT ('IIARGE I have the right to make payments of principal at any time bcfi~rc dray are due, together with accrued interest. When I make a prepayment, I will tell the Note Holder h~ wrhing that I am doing so. If I make a partial prepayment, there will be no changes in the due date lit in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. If wit bin TWO ( 2 ) years from the date of execution of the Security Instrument(as defined above) I make a full prepaymentor partial prepayment(s), I will at the same time pay to the Note Hohlcr a prepayment charge. An amount not exceeding twenty percent (20%) of the original principal anmtmt may be prepaid in any twelve-month period without penalty. A prepaymentcharge will be imposed on any amount prepaidin any twelve,month period in excess of twenty percent (20%) of the original principal ztmount of the loan which charge shall not exceed an amount equal to the payment of six months' adwtncc interest on the amountprepaidin excess of twenty percent (20%) of the original principal amount. day of Borrower Borrowcr FIRST MORTGAGE 1196181 {0203) Page 2 of 2 MULTISTATE (09/10/96) ATUY LOAN ID' 0041005521 RETURN RECORDED DOC TO: Finance America, LLC P.O. Box 16637 Irvine, Ca 92623-6637 MIN 100052300410055213 ADJUSTABLE RATE RIDER (LIBOR Index - Rate ('al}S) THISADJUSTABLERATERIDERis madethis 29th day of NOVEMBER , 2004 , and is incorporatedinto and shall be deemedto amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of the same date gix cn by the undersigned (the "Borrower") to secure Borrower's Note to Finance America, LLC (the "Lender") of the same date and covering the property described in the Security Instrumentand located at: 138 GALLUP DR, ETNA, WY 83118 [Property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTERESTRATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreementsmade in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHAN(;I~S The Note provides for an initial interest rate of 9 24 0 changes in the interest rate and the monthly payments, as follmvs: %. The Note provides for 4. INTEREST RATE AND MONTHLY PAYMENT CHANG ES (A) Change Dates TheinterestrateI will pay may changeon the first day of DECEMBER 01, 2006 , and on that day every sixth month thereafter. Each date on which my inlcrcst rate could change is called a "Change Date." MULTISTATE ADJUSTABLE RATE RIDER(LIBORIndex)- Single Family - FreddieMac UNIFORM INSTRUMENT I~4115R (0008) Form 3192 1101 Page 1 of 4 Initials: ~ VMP MORTGAGE FORMS - (800'~ff21-7291 MGMW ; 53 (B) The Index Beginning with the first Chhnge Date, my interest rate will bc based on an Index. The "Index" is the average of interbank offered rates for six-month U.S. dollar-dcn,mi,~atcddeposits in the London market ("LIBOR"), as published in The Wall So'eet Journal The most rc cc n t Index figure available as of the first business day of the month immediately preceding the month in wh ich the Change Date occurs is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice .f this cia oice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculalc my new interest rate by adding SIX AND 50/100 percentage ptfinls ( 6. 500 %) to the Current Index. The Note Holder will then round the result of thi.~ addition to the nearest one-eighth of one percentagepoint (0.125%). Subject to the limits statedin Section 4(D) below, this roundedamountwill be my new interest rate until the next Change Date. The Note Holder will then determinethe amount of the mtmt hly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of Ih is calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 1.2. 260 % or less than 9.26.0 %. Thereafter, my interest rate will never be increasedor decreasedon any single Change Date by more than tmc pcrcentagepoint (1%) from the rate of interest I have been paying for the preceding six months. Nix, interest rate will never be greater than 15. 240 %. My interest rate will never be lower than the initial interest rate stated in Paragraph A of this Rider. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date a I't ~ r tim Ch ange Date until the am aunt of my monthly payment changes again. Initials: ~ (~1~815R (0008) Page 2 of 4 Form 3192 1101 MGKL~ (F) Notice of Changes The Note Holder will deliv6r or mail to me a notice of any changes in my interestrate and the amount of my monthly payment before the effective date of any ch:rage. Tile notice will include information requiredby law to be given to me and also the title and telephone number of a personwho will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROVVER Uniform Covenant 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest iii Ih,rrower. As used in this Section 18, "Interest in the Property" means any legal or benefi&d interest in the Property, including, but not limited to, those beneficial interests transferred ill ~t bond for deed, contract for deed, installment sales contract or escrow agreement, the intern t}l 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 Interestin thc l'roperty is sold or transferred(or if a Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this opt ion shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender :iisi} shall not exercise this option if: (a) Borrower causes to be submitted to Lender informatitm rc(tuired by Lender to evaluate the intended transferee as if a new loan were being made lo the transferee; and Co) Lender reasonably determines that Lender's security will not be im paired by the loan assumption and that the risk of a breachof any covenant or agreementin thi~ Security Instrumentis acceptableto Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transfereeto sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Nt}tc and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide, l~criod of not less than 30 days from the date the notice is given in ackordancewith Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lendermay invoke any remedies pcrmittedby this Security Instrument without further notice or demand on Borrower. Initials: _~ (~815R (0008) Page 3 of 4 Form 3192 1/01 BY SIGNING BELOW, Borrower accepts and agrees to Ibc terms and covenants contained in this Adjustable Rate Rider. NIFER /~. REDFIELD -Borrower JOH~ E. REDFIELD (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower l~lS~ (ooo8) Page 4 of 4 Form 3192 1101 MGMZ