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HomeMy WebLinkAbout905036', 0!07 After recording please return to: OHIO SAVINGS BANK ATTN: ~ CONTROL [Company Name] [Name of Natural Person] 1111 CHESTER AVE [Street Address] CLEUI~AND, OH 44114 [City, State Zip CodeI DEFINITIONS RECEIVED 12/6/2004 at 3:10 PM RECEIVING # 905036 BOOK: 574 PAGE: 107 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording Data] MORTGAGE MIN 100065500000168996 Words used in multiple sections of this document are defined belox~' lind other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in lhis document are also provided in Section 16. (A) "Security Instrument" means this document, which is da[cd together with all Riders to this document. December 6, 2004 (B) "Borrower"is JIM M. ABT ·Borrowcr is thc mortgagor under tkis Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, lnc MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. 51E R S 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, M1 48501-2026, tel. (888) 679-MEI~S. (D) "Lender" is SUNSHINE MORTGAGE CORP. Lenderisa THE STATE OF GEORGIA 300, SMYRNA, GA30080 LOAN NUMBER: 2409600 corporation Lender's address is organized and existing under the laws of 2401 LA_KB PARK DR. SUITE Wyonfing Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRI .NI ENT COMPLIANCE SOURCE, INC.-- Page 1 of 14 ..... .......... Illlllllllllllll l{ll {{ll{{{l{ Illl Il Il MERS Modffied Form 3051 01/01 14301WY 08100 02000, The Complianc~ Soutc~, Ino. ! 0 8 Og) "Note" means the promissory note signed by Borrower and dated Dec~mber 6, 2004 The Note states tlmt Borrower owes Lender eighty n_i_ne thousand slx hundred and NO/100ths Dollars (U.S. $ 89,600.00 ) plus interest. Borrower has promised to pay this debt in. regular Periodic Payments and to pay the debt in full not laterthan January 1, 2008 (F) "Property" means the property that is described beloxx under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, cay prepayment charges and late charges due under the Note, and all stuns due under this Security Instrmnent, plus interest (H) "Riders" means all Riders to this Security Instrmnent that arc executed by Borrower. The following Riders are to be executed by Borrower [chocl¢ box as applicablo]: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [] Balloon Rider [] Planned Unit Development Rider [] Biweekly Payment Rider [] 1-4 Fmnily Rider [] Revocable Trust Rider [] Other(s) [spocifi/] (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of fimds, olher than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic lenninal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial inslitution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated Icl let inachine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers (L) "Escrow Items" means those ite~ns that are described in Scclion 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as Io, the value and/or condition of the Property. (IN) "Mortgage Insurance" means insurance protecting Lender againsl the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amotm~ duc for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of tlfis Security Instrument. LOAN~ER: 2409600 Wyonflng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTR1;N I ENT TIlE COMPLIANCE SOURCE, INC.-- Page 2 of 14 ..... .......... Illll Ill Illl III IIII !1 IIIlll/[ Ii II II Ill MERS Modified Form 3051 01/01 14301wY 08100 ~2000, The Compliance Source, [nc. 05}050:t6 · _ '0109 (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Pan 3500), as Ihcv might be amended fi.om time to time, or any additional or successor legislation or regulation that governs thc same subject matter. As used in tiffs Security Instrument, "RESPA" refers to all requirements and restrictions lhal are imposed in regard to a "federally related mortgage loan" even ffthe Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means an), pan3., thru has taken title to the Property, whether or not that party has assumed Borrower's 9bligations under the Note and/o~ this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repaymem of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrowe~ 's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does herebx mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to thc successors and assigns of MERS, with power of sale, the following described property located in the County of I_ffN(XX,N : [Type of Recording durfsdiction] [A/~m~ of Recording dutfsdiction] SEE ATTACNRD EX~IRIT A which currenfly has the address of See Legal Description [Street] , Wyoming 83 ] 28 [City] [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hercaflc~ erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the properb. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred ~o in tlfis Security Instrument as the "Property.." Borrower understands and agrees that 'MERS holds only legal litl¢ to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom. MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those imcrests, including, but not limited to, the right to foreclose and sell the Property; and to take an), action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully sciscd of the estate hereby conveyed and has the fight to mortgage, grant and convey the Property and that the Properb ~s unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to thc Ih opcny against all claims and demands, subject to any encumbrances of record. I~N~: 2409600 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTR I'M I(NT --Tree COMPLIANCE SOURCE, INC.-- Page 3 o! 14 Hlllllll llllllllllll llllll:llllll Ii[Il II ll II MERS Modified Form 3051 01/0l 14'I01W'Y 08/00 ©2000, The Compliance Source, Inc. THIS SECURITY INSTRUMENT combines uniform covenams for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uni Form security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenanl and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due file principal of, and interest on, thc debt evidenced by the Note and any prepayment charges and late charges due under file Note. Borrower shall also pa) fimds for Escrow Items pursuant to Section 3. Payments due under file Note and this Security Instrument shall bc made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments duc under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lendcr: (;0 cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any s,ch check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; m' (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with thc notice provisions in Section 15. Lender may return any payment or partial payment if file payment or partial pa), ~cnts are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficiem to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or l);trlial payments in the future, but Lender is not obligated to apply such payments at file time such payments are accel)reel. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplicd fimds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan currem Il' Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing Ihc covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other anaounts due under this Security Instnnnent, and then ~o reduce tile principal balance of the Note. If Lender receives a payment from Borrower for a delinqucm Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied ~o thc delinquent payment and file late charge. If more than one Periodic Payment is outstanding, Lender nmy apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each l)a3 mcnt can be paid in full. To the extent that any excess exists after the payment is applied to file full paymem o~' one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment clmrges and then as described in the Note. Any application of payments, lnsurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the mnount, ol' the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Securil.~ Instmlnent as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, il' any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance l)rcmimns, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At originanon or at any time during file term of the Loan, Lender may require that Colmnunity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, LOAN NUMBER: 2409600 Wyonflng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRI ~ I ENT --THE COMPLIANCE SOURCE, INC.-- Page 4 of 14 MERS Modified Fonn 3051 01/01 14301WY 08/00 02000, Th~ CompUanc~ Source, Inc. and such dues, f~es and assessments shall be an Escrow Item. Borrox~ et' shall promptly fumish to Lender all notices of amounts to be paid under tiffs Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all I%crow Ilems. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow It.ems at an3 ti me. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and xvhcre payable, the mounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed ~o be a covenant and agreement contained in this Security Instrument, as the plu:ase "covenant and agreement" is ,scd in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fi~ils to pay file mnount due for an Escrow Item, Lender may exercise its fights under Section 9 and pay such mnounl and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke ihe waiver as to any or all Escrow 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 amotml (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the b;~sis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance wilh ^ pplicable Law. The Funds shall be held in an 'institution whose deposits arc ins~ ~rcd by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposils arc so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later thau the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annu:dl3 analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings o, II~e Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shorlage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, ami Borrower shall pay to Lender the mnount necessary to make up the shortage in accordance with RESPA, bu! i~ no more fl~an 12 monflfly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, l.cnclcr shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessar.~ to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this SecnriU Instnmmnt, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, ,sscssments, charges, fines, and impositions attributable to the Property which can attain priority over this Secm'ily Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the rammer provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but. only so long as Borrower is performing such agrecmcnt', (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) ~ecures from the holder of the lien an agreement satisfactory to l.cmler subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is sub joel lO a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying thc lien Within 10 days of the date on which LOAN NUMBER: 2409600 Wyonflng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTR t L'~ 11(NT --THE COMPLIANCE SOURCE, ]-NC.-- Page 5 of 14 MERS Modified Form 3051 01/01 14301WY 08/00 {)2000, Thc Compliance Source, Inc. 0!i2 that notice is given, Borrower shall satisfy the lien or take one or more of tile actions set forth above in this Section 4. Lender may require Borrower to pay a one-time clmrgc fi)r a real estate tax verification and/or reporting service used by Lender in connection with tlfis Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within thc term "extended coverage," and any other hazards including, but not limited to, earthqnakes and floods, for which Lender requires insurance. This insurance shall be maintained in the mnounts (including deductible levels) and for thc periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during he term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject ~o [.cndcr's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may reqmre I~orrower to pay, in connection with this Loan, either: (a)a one-time charge for flood zone determination, certification and tracking services; or (b)a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such detcrnfia:~lio,! or certification. Borrower 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 objccliol~ 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 lo purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, bul might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any ,'isk. hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknox~lcdgcs that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could lmve obtained. Any amounts disbursed by Lender under tiffs Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate fi'om the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, aad shall nmne Lender as mortgagee and/or as an additional loss payee. Lender shall have the 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 coverage, not otherwise required by Lender, fol' 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 payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economicall, feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have file righl lO hold such insurance proceeds until Lender Ims had an opportunity to' 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 file repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds Fccs for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds a nd shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instnm~ent, uhcd~cr or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in thc order provided for in Section 2. If Borrower abandons the Property, Lender may file, negot iate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to ~ m~tlcc from Lender that the insurance carder has LOAN NUMBER: 2409600 Wyonflng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTIll ],XII,'.NT --TFt]E COMPLIANCE SOURCE, INC.-- Page 6 of 14 MERS Modified Form 3051 01/01 14301WY 08/00 02000, Th~ Compliance Source, Inc. offered to settle a claim, then Lender may negotiate and settle thc claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property m ~dcr Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds it, an atnount not to exceed the amounts unpaid under the Note or this Security Instrument, and CO) 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, insofar as such rights are applicable to the coverage of the Property. Lender may use thc insm'ance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security h~stl-ttmcut, 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 Instmmem and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occul)ancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or tmlcss 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 to deteriorate or conunit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall mmnmin ~l~e Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Ut~lcss il is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or dmnage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or resloring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds ['or the repairs and restoration in a single payment or in a series of progress payments as the work is complelcd. If the insurance or condemnation proceeds 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 improvements on thc lh'opcny. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in clef;ri. It if, during the Loan application process, Borrower or any persons or entities acting at file direction of Bo,'rm~ cr or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material rcprcscutations include, but are not limited to, representations concerning Borrower's occupancy of the Property as gorrower's principal residence. 9. Protection of Lender's Interest in the Property ;m,I Rights Under this Security Instrument. If (a) Borrower fails to perforn~ the covenants and agreements contained in this Security Instrument, Co) there is a legal proceeding that might significantly affect Lender's interest in thc Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condcmaation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enfin'cc laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in file Property and rights under tiffs Security Instrument, inch~ding protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's aclions can include, but are not limited to: (a) paying any sums secured by a lien wlfich has priority over this Security Instrument; Co) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in Ibc Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding Securing file Property includes, but is not limited to, entering file Property to make repairs, clmnge locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerotts conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender docs no~ have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for .,ol taking any or all actions authorized under this Section 9. LOAN NUMBER: 2409600 Wyondng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM [NSTRI'M ENT --TI~E CO~PLIANCE SOURCE, ][NC.~ Page 7 of 14 www.compliancesomce.com [llllll gllll[llll ll ll:llll[llil:l'll[[[ll MERS Modified Form 3051 01/01 14}01Y~Y 08/00 ©2000, Thc Compliance Sola'cc, Inc. '0!14 Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at tile Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower sha II comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold find the fcc litle shall uot merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Morlgagc Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make sepmmcly designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required lo obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurcr selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall contint~c lo pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased lo be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimatel~ lmid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lendc! can no longer require loss reserve payments ff Mortgage Insurance coverage (in the amount and for the period that l.cndcr requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage h~sm'ance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance cads m accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity lhat pm'chases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is nol a party Io the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such instu'an ce iu force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer m~d Irc other party (or parties) to these agreements. These agreements may require the mortgage insurer to make paymcms using any source of funds that the mortgage insurer ~nay have available (which ~nay include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser ol~ thc Nol¢, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (di,'cclb or indirectly) amounts that derive frmn (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 insurer's risk in exchange for a share of the prenuums paid to the insurer, the arrangement is often termed "captive reinsurance." Fuffi~er: (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 ~ ill m~t i,crease the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to ;m)' ,'efund. (b) Any such agreements will not affect the fights lhn'rower 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 obtait~ cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, :md/o,' to receive a refund of any Mortgage Insurance preminms that were unearned at the time of such cancellation or termination. LOAN NUMBER: 2409600 '~Vyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTIll:MEN T --TILE COMPLIANCE SOURCE, INC.~ Page 8 of 14 ..... pli ..... ur ...... Igil]llllllllllllllllllll Illl[llllilllllq'l/'lll MERS Modified Fonn 3051 01/01 14~01WY 08/00 C,2000, The Compliance Source, Inc. :,-0!1.5 11. Assignment of Miscellaneous Proceeds; Forfeim,'c. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and l.cnder's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been COlnpleted to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress pay~nents as the work is complclcd. Unless an agreement is made in writing or Applicable Law requires interegt t6 be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, it' any, paid 1o Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of ~h¢ Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whelher or not lhen due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of lh¢ Property in which the fair market value of the Property inunediately before the partial taking, destruction, or loss i,~ value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before ~]~e partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by d~c following fraction: (a) the total mnount of the sums secured immediately before the partial taking, destmctiou, or loss in value divided by (b) the fair market value of the Property immediately before the paxtial 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, destruction, or loss in value is less than the amount of the sums secured inmlediately before the partial taking, destruction, or loss in yahoo, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to thc SUlnS secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice b.~ Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for dmnages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by tlfis Security Instrument, whether or not then due. "Opposing Party" means the tlfird party that owes Bo,','ower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, x~hether civil or criminal, is begun flint, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cm'e such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other mai erinl impairment of Lender's interest in the Property or rights under tiffs Security Instrument. The proceeds o£ any award or claim for damages flint are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repmr of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Inslrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release thc liability of Borrower or any Successors in Interest of Borrower. Lender slmll not be required to commence proceedings against any Successor in Interest of LOAN~: 2409600 ~Vyomlng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRU511';N T COMPLIANCE SOURCE, INC.-- Page 9 of 14 I IIlllllglll]l]lllllllllllllzllllllllll',llllil,lr IIr, MERS Modified Form 3051 01/01 143t01WY 08/00 1~2000, The Compliance Source, Inc. 0.9 35036 Borrower or to refuse to extend time for payment or otherwise nlodi£y amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors ill lnlcrest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of am right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (:0 ~s co-sigmng this Security Instrument only to mortgage, grant and convey the cO-signer's interest in ,the Property trader Ifc mrms of this Security Instrument; (b) is not personally obligated to pay the sums secured by tlfis Security Instrun~ent: and (c) agrees thal Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with 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 h,erest o£ Borrower who assumes Borrower's obligations under fids Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instnm~ent. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees 1o such release in writing. The covenants and agreements of this Security Instrmnent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fccs for services performed in connection with Borrower's default, for the purpose of protecting Lender's interesl in ~he Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property in~pectiou and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrumenl m charge a specific fee to Borrower shall not be construed as a prohibition on the charging 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 charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in cmmection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amouut necessary to reduce the charge to the permitted linfit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing lhe pti nc~ pal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the red,cliou will be treated as a partial prepaymem without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with fids.Security Instrument must be in writing. Any notice to Borrower in connection with this Security Insmmmnt slmll be deemed to have been given to Borrower when ~nailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall 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 notice to Lender. Borrower shall promptly notify l.cndcr of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address tlu'ough that specified procedure. There nmy be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by dcliveriug it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated anolhcr address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Insmm~ent is also rcq,ired under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under Ihis Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Properly is Iocaled All rights and obligations contained LOAN NUMBER: 2409600 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTR[ IN IEN 1' --Tim COMPLIANCE SOURCE, INC.-- Page 10 of 14 MERS Modified Form 3051 01/01 14301WY 08/00 {>2000, The Compliance Source, Inc. in this Security InsL-ument are subject to any requirements and limimlions of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or il might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the cx clot thai auy provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflic; shall not affect other provisions of this Security Instrument or the Note which can be given effect without the confiicl ing prov~sion. As used in this Security Instrument: (a)words of Iht masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) x~ ords in the singular shall mean and include the plural and vice versa; and (c} the word "ma)," gives sole discretion xvilhot~t any obligation to take any action. 17. Borrower's Copy. 'Bbrrower shall be given one cop)' o£ Ihe Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in tlds Section 18, "Interest in the Propen3~'' means any legal or beneficial interest in the Proper~y, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, instalhnc~l sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Propc~ t) is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or tran_q'crred) without Lender's prior written consent, Lender may require inunediate payment in full of all stuns secured b~ this Security Instrument. However, fids option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borroxvcr ltolice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is givca in accordance with Section 15 within wldch Borrower must pay all sums secured by this Security Instrumenl. I1' l]orrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pennillcd by this Security Instrmnent without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. Il' [3orrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instnm~em discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in fids Security Instrument; Co) such other period as Applicable Law might specify for the terminatio~ el~ Borrower's right to reinstate; or (c) entry of a judgment enforcing fids Security Instrument. Those conditions arc Ihal Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as il' no acceleration had occurred; Co) cures any default of any other covenants or agreements; (c) pays all expensc~ incurred in enforcing this Security Instnunent, including, but not limited to, reasonable attorneys' fees, property mspectiou and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and fights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure fl~al Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pa)' thc sums secured by this Security Instrument, shall continue unchanged. Lender may require flint Borrower pay such rcmstatelnent stuns and expenses in one or more of the following forms, as selected by Lender: (a) cash; Co) 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, instrumentality or entity; or (d) Electronic Funds Transl'¢r. Upon reinstatement by Borrower, fids Security lnstrmnent and obligations secured hereby shall remain fi~llx effective as if no acceleration had occurred. However, this right to reinstate shall not'apply in the case of accelcralion trader Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instnunent) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") lhal collects Periodic Payments due under the Note and fids Security Instrument and performs other mortgage loan servicing obligations under the Note, fids Security Instrmnent, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borroxver will be given written notice of the change which will state the name and address of the new Loan Servicer, mc ~ddrcss lo which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing LOAN NUMBER: 2409600 Wyoming Morlgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTIll '51 ENT --TEIE COMPLIANCE SOURCE, INC.-- Page 11 of 14 MERS Modified Form 3051 01/01 14301WY 011/00 ~2000, The Compliance Somce, [nc, 0,,!8 obligations to Borrower will remain with the Loan Servicer or be Ir;mst erred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or bc joined 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 Instrument or that alleges that the other party has breached any p,'ov~sion 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 requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective ;~c~ ~on. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be dee~ned to be reasonable for purposes of tiffs paragraph. The notice of acceleration and opportunity to curc given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in tiffs Section 21: (a) "1 lazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Em'irolunental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive matenals; (b)"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located Ihal relate to health, safety or environmental protection; (c)"Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower slmll not cause or pernfit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or i~, Iht Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is m rio etlon of any Environmental Law, Co) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. Thc preceding two sentences shall not apply to the presence, use, or storage on the 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 private Ir, my involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, Co) any Environmental Condition, including but not limited to, any spilhng, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a l l;lzarclous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govcrmnem al or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance ,'fffecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shah create any obligation on Lender for an Environmental Clcatmp. NON-UNIFORM COVENANTS. Borrower and Lender fi~rthcr coven,'mt and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Secm'ily Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides othenvise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 3O days from the date the notice is given to Borrower, by which the default must be cured; and (d) thai fail,re to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of thc righl to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before Ibc date specified in the notice, Lender at its LOAN NUMBER: 2409600 Wyonflng Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTR U ~, I I,;N T Tim COMPLIANCE SOURCE, [NC.-- Page 12 of 14 ~ I ..... pli ..... m ...... I IIIIla llll llllllllll!lllllll,l',llllll,tlilll MERS Modified Form 3051 01/01 14]01WY 08/00 ~2000. The Complian~ Source, Inc. option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any olhcr remedies permitted by Applicable Law. Lender shall be entitled to collect ali expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and cosls of title evidence. If Lender invokes the power of sale, Lender shall give nmice of intent.to foreclose to Borrower and to the person in possession of the Property, if different, in accordance ~vith Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Sectim~ 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by AIqflicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall he applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable :dIm'heys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. / 23. Release. Upon payment of all sums secured by this ~¢curity Instrmnent, Lender shall release Security Instrument. Borrower shall pay any recordation costs. Lcndcr may charge Borrower a fee for releasing this Security Instrument, but only ff the fee is paid to a third party for services rendered and 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. BY SIGNING BELOW, Borrower accepts and agrees to thc terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded xvifl, it. Witnesses: Printed Name: ~J [Please Complete] (Seal) -Borrower Printed Name: [Please Complete] (Seal) -Borrower (Seal) -Borrower [Acknowledgment on Following Page] (Seal) -Borrower LOAN NUMBER: 2409600 Wyonfing Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRI '.\ I ENT --TILE COMPLIANCE SOURCE, INC.-- Page 13 of 14 .... plianccsou*o ..... IIIII1$11111111[11111 1111111 Illll, II Itl! MERS Modified Form 3051 01/01 14301wY 08/00 ©2000, The Compliance Source, Inc. State of '7'~t ~ § County of 301~%o 10 Before me the undersigned authority, on this day personalb appeared known to me (or proved to me through an identity card or other document) to be the person(s) whose name is subscribed to the foregoing insmm~cnt, and acknowledged to me that he/she/they executed the same for the purposes and consideration therein expressed Given under my hand and seal on this ~,.~ dayo£ / ~,~A..~ , ~L~t)¢ (Seal) otary Public STATE OF TEXAS y Comm. Exp. 12/10/2007 -Nolary Public My Commission Expires: LOAN NUMBER: 2409600 Wyonflng Mortgage-Single F~unily-Fannie Mae/Freddie Mac UNIFORM LNSTR! 1511,;N 1' COMPLIANCE SOURCE, INC.-- Page 14 of 14 MERS Modffied Form 3051 01/01 14301WY 08/00 ~2000, The Comphance Source, Inc. Exhibit A -.-0121 Lot 3 of Shadow Dancer Estates Subdivision, Lincoln County, Wyoming as described on the official plat thereof ,0!22 LOAN lhTIMBER: 2409600 1-4 FAMILY RIDER (Assignment of Rents) 100065500000168996 THIS l-4 FAMILY RIDER is made this 6th day of December, 2004 and is incorporated into and shall be deemed to amend and supplc.ncnt the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by fl~c undersigned (the "Borrower") to secure Borrower's Note to SUNSHINE MORTGAGE CORP. (the "Lender") of the same date and covering the Property described in the Security h,strument and located at: LOT 3 SHADOW DANCER, ALPINE, WY 83128 [Property Address] 1-4 FAMILY COVENANTS. In addition to the covcmmts and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property described in Security Instrument, the following items .~tm or hereafter attached to the Property. to the extent they are fixtures are added to the Property description, and shall also constitute the Property covered by the Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or used, or intended to be used in connection with the Propc,ty, including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus, ph..bing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling and attached floor coverings, all of which, including replacements and additions thereto, shall bc dccmcd to be and remain a part of the Property covered by the Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as the "Property." B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classification, tmlcss Lender has agreed in writing to the change. Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental body applicable to the Property. C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to the Security Instrument to be perfected against the Property without Lender's prior written permission. Initials: Multistate 1-4 Family Rider Fannie Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 1 of 3 ...... ............ I IIl[llffilllllllllll[lll fllg lllllll[llllllllll Form 3170 01/01 14503MU 08/00 ©2000. The Compliance Source, [ne. o o5oa ' 012 3 D. RENT LOSS INSURANCE. Borrower shall maintain mst,rance against rent loss in addition to the other hazards for which insurance is required by Section 5. E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted. F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section 6 concerning Borrower's occupancy of the Property is deleted. G. ASSIGNMENT OF LEASES. Upon Lender's requc,t ;l fret default, Borrower shall assign to Lender all leases of the Property and all security deposits made in co,mccfion with leases of the Property. Upon the assignment, Lender shall have the fight to modify, extend or terrain,re the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, thc word "lease" shall mean "sublease" if the Security Instrument is on a leasehold. H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and unconditionally assigns and transfers to I~cmtcr all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the Property arc payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of thc Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents tmtil (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument and (ii) Lender bas given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignmcm of Rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notices of default to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of Lender only, to be applied to tile sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of the Rents o l'01: Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing the Property and collecting the Rents, including, but not limited to, attorneys' fees, receiver's fees, prcminms on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agoras or any judicially appointed receiver shall be liable to account for only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to take possession of and manage the Property and collect the Rents and profits derived from the Property without any showing as to the inadequacy of the Property as security. If the Rents of the Property are not sufficient to cover thc costs of taking control of and managing the Property 'and of collecting the Rents any funds expended by Lender fi~r such purposes shall become indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. Borrower represents and warrants, that Borrower has not cxec, ted any prior assignment of the Rents and has not performed, and will not perform, any act that would prevent Lcnder from exercising its rights under this paragraph. LOAN NUMBER: 2409600 Initials: Multistate 1-4 Family Rider--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCF-n ].NC.-- Page 2 of 3 Form 3170 01/01 14S03MU 08/00 ~2000, The Complianc~ Source, Inc. Lender, or Lender's agents or a judicially appointed rcccivcr, shall not be required to enter upon, take control of or maintain the Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of Rents of the Property shall terminate when all the sums secured by tl~c Security Instrument are paid in full. I. CROSS-DEFAULT PROVISION. Borrower's dcfimlt or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees to thc terms and provisions contained in this 1-4 Family Rider. (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower LOAN NUMBER: 2409600 Multistate 1-4 FamiLy Rider Fannie Mae/Freddie Mac UNIFORM INSTRUM [NT Form 3170 01/01 COMPLIANCE SOURCE~ INC.-- www.compliance~our ce.corn Page 3 of 3 14503MU 08/00 ~2000, The Compliance Soatcu, Inc.