HomeMy WebLinkAbout905039After Recording Return To:
GMAC Mortgage Corp.-
100 Witmer Road
Horsham, PA 19044-0963
ATTN: Records Management
RECEIVED 12/6/2004 at 4:03 PM
RECEIVING It 905039
BOOK: 574 PAGE: 127
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Above This Line For Reco,'di.g Data]
I,,anN0. 574770608
[q[N 1000375-0574770608-6
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined
in Sections 3, 11, 13, 18, 20 and 21. Certain roles regarding the usage of words used in this
document are also provided in Section 16.
(A) "Security Instrument" means this document, which is dated November 30,
2004 , together with all Riders to this documcm.
(B) "Borrower" is
WinCon R. Hudgens and Janis B. Hudgens, Trustees of the Winton R.
Hudgens and Janis B. Hudgens Family Trust dated March 18, 1994
and amended Augusc 28, 2000.
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration 53slcms, Inc. MERS 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 Instrumem. MERS is organized and existing
under the laws of Delaware, and has an address and telephone nulnber of P.O. Box 2026, Flint,
MI 48501-2026, tel. (888) 679-MERS.
WYOMING - Single Family - Fannie Mae/Freddie Mae
UNIFORMINSTRUM!qNT Form~0,1 1/01 ~,,~,/,~
(Page 1 of l8) 275228557 Initiais:~d"
GMACM - CMS.0042.WY [0001)
345
0 905039
0128
(D) "Lender" is
GMAC Mortgage Corporation
Lenderisa Corporation
lawsof Pennsylvania
100 Witmer Road, p.O. Box 963, Horsham,
PA
organized and existing under the
Lender's address is
1.9044
0g) "Note" means the promissory note signed by Borrower and dated November
2004 The Note states that Borrower owes Lender
Fifty Two Thousand Four Hundred Fifty Four- and 00/100
30,
Dollars (U.S. $ 52° 454.00 ) plus interest. Borrower has promised to pay this
debt in regular Periodic Payments and to pay the debt in ful lot later than
December 1, 2019
(F) "Property" means the property that is described bCltl;~ under the heading "Transfer of
Rights in the Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges
and late charges due under the Note, and all sums duc trader this Security Instrument, plus
interest.
(H) "Riders" means all Riders to this Security Instrumcm that are executed by Borrower.
The following Riders are to be executed by Borrower [check box as applicable]:
["-q Adjustable Rate Rider [---] Condominium Rider [---] Second Home Rider
[--] Balloon Rider [--q Biweekly Payment Rider [-~ 1-4 Family Rider
~ Other(s) [specify] [----] Planned Unit Devclopmcnt Rider
Intervivos Trust Rider
(I) "Applicable Law" means all controlling applicable federal, state and local statutes,
regulations, ordinances and administrative roles and or&rs tfl~at 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 iff fimds, 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 tcm~ includes, but is not limited to,
point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone,
wire transfers, and automated clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or
proceeds paid by any third party (other than insurance proceeds paid under the coverages
described in Section 5) for: (i) damage to, or destruction of. thc Property; (ii) condemnation or
other taking of all or any part of the Property; (iii) convc3 anco m lieu of condemnation; or (iv)
misrepresentations of, or omissions as to, the value and/or ct md it ion of the Property.
WYOMING - Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fol n1305 I
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(b0 "Mortgage Insurance" means insurance protecting l.cnder against the nonpayment of,
or default on, the Loan.
(O) "Periodic PaYment'' means the regularly scheduled amomlt due for (i) principal and
interest under the Note, plus (ii) any amounts under Section 3 of dfis Security Instrument.
(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. Part 3500), as they might be
amended from time to time, or any additional or successor legislation or regulation that governs
the same subject matter. As used in this Security Instrulnent, "RESPA" refers to all
requirements and restrictions that are imposed in regard t,~ a "federally related mortgage loan"
even if the Loan does not qualify as a "federally related morlgagc loan" under RESPA.
(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 ohligations under the Note and/or
this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repa3 mcnt of the Loan, and all renewals,
extensions and modifications of the Note; and (ii) the perfor,nancc of Borrower's covenants and
agreements under this Security Instrument and the Note. For this purpose, Borrower does
hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's
successors and assigns) and to the successors and assigns of MERS, with power of sale, the
following described property located in the County
of Lincoln [Type of Recordh~g Jurisdicli.n[ :
[Name of Recording Jurisdk'tim~l
SEE SCHEDULE "A" ATTACHED HERETO AND HADE A PART HEREOF.
which currently has the address of
2840 State Highway 241,
[Street]
Afton , Wyoming 83110
[City] lZq, ~ 'ode/
("Property Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and
all easements, appurtenances, and fixtures now or hcrcaI'tcr a part of the property. All
replacements and additions shall also be covered by this Security Instrument. All of the
foregoing is referred to in this Security Instrument as the "Px'~,l)crty." Borrower understands and
agrees that MERS holds only legal title to the interests granted by Borrower in this Security
Instrument, but, if necessary to comply with law or custom, MF. RS (as normnee for Lender and
Lender's successors and assigns) has the right: to exercise any or all of those interests,
including, but not limited to, the right to foreclose and sell tile Property; and to take any action
required of Lender including, but not limited to, reload, lng and canceling this Security
Instrument.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fo~m 3~151 1'01
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BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby
conveyed and has the right to mortgage, grant and convc3 thc Property and.that the Property is
unencumbered, except for encumbrances of record. B,~rrower warrants and will defend
generally the title to the Property against all claims and dcmamls, subject to any encumbrances
of record.
THIS SECURITY INSTRUMENT combines nnifornl covenants for national use and
non-uniform covenants with limited variations by jurisdictitm to constitute a uniform security
instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender co\'cllal]l and agree as follows:
1. Payment of Principal, Interest, Escrow ltcm~, l'rel)ayment Charges, and Late
Charges. Borrower shall pay when due the principal of, mid interest on, the debt evidenced by
the Note and any prepayment charges and late charges duc trader the Note Borrower shall also
pay funds for Escrow Items pursuant to Section 3. Pa,mcnts due under the Note and this
Security Instrument shall be made in U.S. currency. However, il' 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 paymons due under the Note and this
Security Instrument be made in one or more of the follo~ ins 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 institution who,sc dq)osits are insured by a federal
agency, instrumentality, or entity; or (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 l.cndcr in accordance with the notice
provisions in Section 15. Lender may return any paymenl t~' partial payment if the payment or
partial payments are insufficient to bring the Loan cur,'cn., l.cnder may accept any payment or
partial payment insufficient to bring the Loan current, withottl waiver of any rights hereunder or
prejudice to its rights to refuse such payment or partial paymcms in the future, but Lender is not
obligated to apply such payments at the time such paymcms are accepted. If each Periodic
Payment is applied as of its scheduled due date, then Lender ~ccd not pay interest on unapplied
funds. Lender may hold such unapplied funds until Borroxvcr makes payment to bring the Loan
current. If Borrower does not do so within a reasonable period of time, Lender shall either
apply such funds or return them to Borrower. If not appticd 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 auainst Lender shall relieve Borrower
from making payments due under the Note and this Security Instrument or performing the
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 bt: applied in the following order
of priority: (a) interest due under the Note; (b) principal duc umler 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
amounts due under this Security Instrument, and then tt, rcduct: the principal balance of the
Note.
LOAN NO: 574770608
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0905049
If Lender receives a payment from Borrower fl,' :t delinquent Per'i~)dic Payment which
includes a sufficient amount to pay any late charge duc. thc payment, may be applied to the
delinquent payment and the late charge. If more than tmc Periodic Payment is outstanding,
Lender may apply any payment received from Borrmxcr to the repayment of the Periodic
Payments if, and to the extent that, each payment can bc l)',fid in full. To the extent that any
excess exists after the payment is applied to the full pa3 mc.t of one or more Periodic Payments,
such excess may be applied to any late charges due Voltmlal'y prepayments shall be applied
first to any prepayment charges and then as described in thc Note.
Any application of payments, insurance proct'cds, or Miscellaneous Proceeds to
principal due under the Note shall not extend or postpone ~hc duc date, or change the amount, of
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 m full, a sum (the "Funds") to provide
for payment of amounts due for: (a) taxes and assess,nc.ts and other items which can attain
priority over this Security Instrument as a lien or encuml)rance on 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 Lender in lieu of the paymcnl .l' Mortgage Insurance premiums in
accordance with the provisions of Section 10. These i~cms are called "Escrow Items." At
origination or at any time during the term of the Loan, l~cndcr may require that Community
Association Dues, Fees and Assessments, if any, be escrt~wcd 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 for Escrow
Items unless Lender waives Borrower's obligation to pay ~l~c Funds for any or all Escrow Items.
Lender may waive Borrower's obligation to pay to Lender' Funds for any or all Escrow Items at
any time. Any such waiver may only be in writing. In thc event of such waiver, Borrower shall
pay directly, when and where payable, the amounts duc 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 l.cnder may require. Borrower's
obligation to make such payments and to provide receipts shall for all purposes be deemed to be
a covenant and agreement contained in this Security Instrument, as the phrase "covenant and
agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly,
pursuant to a waiver, and Borrower fails to pay the amount duc for an Escrow Item, Lender may
exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
under Section 9 to repay to Lender any such amount, l.ct~tlcr may revoke the waiver as to any
or all Escrow Items at any time by a notice given in acct,rdancc 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 amount (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. I.cnder shall estimate the amount of
Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow
Items or otherwise in accordance with Applicable Law.
LOAN NO: 574770608
WYOMING- Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT F, ...... ~051 1/01 ~/t~
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The Funds shall be held in an institution who,sc deposits are in~ured by a federal
agency, instrumentality, or entity (including Leflder, if l_emlcr is m~ institution whose deposits
are so insured) or in any Federal Home Loan Bank. k~-nder shall apply the Funds to pay the
Escrow Items no later than the time specified under RESP:\ I.cnder shall not charge Borrower
for holding and applying the Funds, annually analyzing tl~c escrow account, or verifying the
Escrow Items, unless Lender pays Borrower interest on tlic Funds and Applicable Law permits
Lender to make such a charge. Unless an agreement is ~:lde in writing or Applicable Law
requires interest to be paid on the Funds, Lender shall m)~ bc required to pay Borrower any
interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that
interest shall be paid on the Funds. Lender shall give ~,~ B~,rrower, 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 shortage of
Funds held in escrow, as defined under RESPA, Lender ~hall notify Borrower as required by
RESPA, and Borrower shall pay to Lender the amoum necessary to make up the shortage in
accordance with RESPA, but in no more than 12 monthlx payments. If there is a deficiency
of Funds held in escrow, as defined under RESPA, Lender .~hall notify Borrower as required by
RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in
accordance with RESPA, but in no more than 12 monthly l)a3 mcnts.
Upon payment in full of all sums secured by this .qecurity Instrument, Lender shall
promptly refund to Borrower any Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and
impositions attributable to the Property which can attain i)riorit5 over this Security Instrument,
leasehold payments or ground rents on the Property, if a~y, and Community Association Dues,
Fees, and Assessments, if any. To the extent that these i~ems arc Escrow Items, Borrower shall
pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien xxhich has priority over this Security
Instrument unless Borrower: (a) agrees in writing to thc l):iyment of the obligation secured by
the lien in a manner acceptable to Lender, but only so lo~lg as Borrower is performing such
agreement; (b) contests the lien in good faith by, or defc~ds against enforcement of the lien in,
legal proceedings which in Lender's opinion operate to prcx C~l~ th~ enforcement of the lien while
those proceedings are pending, but only until such procc~'dings are concluded; or (c) secures
from the holder of the lien an agreement satisfactory to l~ender subordinating the lien to this
Security Instrument. If Lender determines that any par~ of the Property is subjec~ to a lien
Which can attain priority over this Security Instrument, l~emler may give Borrower a notice
identifying the lien. Within 10 days of the date on whicl~ that notice is given, Borrower shall
satisfy the lien or take one or more of the actions set forth al~,~x c in this Section 4.
Lender may require Borrower to pay a one-time charge for a real estate tax verification
and/or reporting service used by Lender in connection with Ihis koan.
5. Property Insurance. Borrower shall keeI) thc improvements now existing or
hereafter erected on the Property insured against loss by I'irc hazards included within the term
"extended coverage," and any other hazards including, I~ul not limited to, earthquakes and
floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
WYOMING - Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Fo,-n ',~151 l/IH
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(including deductible levels) and for the periods that Lcmlcr rcqmres. What Lender requires
pursuant to the preceding sentences can chango during thc term of the Loan. The insurance
carrier providing the insurance shall be chosen by B~rrmvcr subject to Lender's right to
disapprove Borrower's choice, which right shall not bc exercised unreasonably. Lender may
require Borrower to pay, in connection with this Loan, citijet: (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 ch:,'ecs each time remappings or similar
Changes occur which reasonably might affect such deter,ninat ion or certification. Borrower shall
also be responsible for the payment of any fees imposed bx Iht Federal Emergency Management
Agency in connection with the review of any flood /~mc determination resulting from an
objection 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 C×l~Cnsc 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, Borr,~x~cr's equity in the Property, or the
contents of the Property, against any risk, hazard or liabilit,, and might provide greater or lesser
coverage than was previously in effect. Borrower acknowledges that the cost of the insurance
coverage so obtained might significantly exceed the cost ~,f insurance that Borrower could have
obtained. Any amounts disbursed by Lender under this Scct~on 5 shall become additional debt
of Borrower secured by this Security Instrument. These :lmounts shall bear interest at the Note
rate from the date of disbursement and shall be payable, xx ith such interest, upon notice from
Lender to Borrower requesting payment.
All insurance policies required by Lender and rc~cxx als of such policies shall be subject
to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall
name Lender as mortgagee and/or as an additional loss pa3cc. 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, f,)r 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 n,nlce 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 restt~r;ltit)n or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such
repair and restoration period, Lender shall have the right to hold such insurance proceeds until
Lender has had an opportunity to inspect such Property t~ 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 restoration in ,, 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 insm",mcc proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters,
LOAN NO: 574770608
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GMACM - CMS.0042.WY (0001)(Page7 of 18) ,,,ilials: ~/~f'<'/~
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or other third parties, retained by Borrower shall not be paid ot:t of the insurance proceeds and
shall be the sole obligation of Borrower. If the/'estorati(m ~r repair is not economically feasible
or Lender's security would be lessened, the ~nsurance proceeds shall be applied to the sums
secured by this Security Instrument, whether or not then duc, with the excess, if any, paid to
Borrower. Such insurance proceeds shall be applied in thc {,'do' provided for in Section 2.
If Borrower abandons the Property, Lender ma3 file. negotiate and settle any available
insurance claim and related matters. If Borrower does no~ respond within 30 days to a notice
from Lender that the insurance carrier has offered to sctllc: claim, then Lender may negotiate
and settle the claim. The 30-day period will begin when thc notice is given. In either event, or
if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to
Lender (a) Borrower's rights to any tnsurance proceeds m 'rill amount not to exceed the amounts
unpaid under the Note or this Security Instrument, and (bi anx 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 the insurance proceeds either t,, repair or restore the Property or to
pay amounts unpaid under the Note or this Security Instl'Umc~t whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's
principal residence within 60 days after the execution of fins Security Instrument and shall
continue to occupy the Property as Borrower's principal residence for at least one year after the
date of occupancy, unless Lender otherwise agrees m writing, which consent shall not be
unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
control.
7. Preservation, Maintenance and Protectio, of the Property; Inspections.
Borrower shall not destroy, damage or impair the Property, ~dlt)w the Property to deteriorate or
commit waste on the Property. Whether or not Borrower is ~'csiding in the Property, Borrower
shall maintain the Property in order to prevent the Propcrt3 t'rom deteriorating or decreasing in
value due to its condition. Unless it is determined i)m'suant to Section 5 that repair or
restoration is not economically feasible, Borrower shall pro~nlitly repair the Property if damaged
to avoid further deterioration or damage. If insurance or condcnmation proceeds are paid in
connection with damage to, or the taking of, the Prope,'ty, Borrower shall be responsible for
repairing or restoring the Property only if Lender has released proceeds for such purposes.
Lender may disburse proceeds for the repairs and restoratio~ itl a siugle payment or in a series of
progress payments as the work is completed. If the insurance or condenmation proceeds are not
sufficient to repair or restore the Property, Borrower is not rcliex ed 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 tl~' thc m~provements on the Property.
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 sh'all be in default !f, during the Loan
application process, Borrower or any persons or entities acting at the direction of Borrower or
with Borrower's knowledge or consent gave materially false, n-fisleading, or inaccurate
information or statements to Lender (or failed to provide l.cnder with material information) in
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connection with the Loan. Material representations illclude, but are not limited to,
representations concerning Borrower's occup~cy' of the Property as Borrower's principal
residence.
9. Protection of Lender's Interest in the PropuF{3 and Rights Under this Security
Instrument. If (a) Borrower fails to perform the cove,~:lntS and agreements contained in this
Security Instrument, (b). there is a legal proceeding that might significantly affect Lender's
interest in the Property and/or rights under this Security hlstrument (such as a proceeding in
bankruptcy, probate, for condemnation or forfeiture, for enft)rccmcnt of a lien which may attain
priority over this Security Instrument or to enforce laws t,r regulations), or (c) Borrower has
abandoned the Property, then Lender may do and pay Ibr xx hatcver is reasonable or appropriate
to protect Lender's interest in the Property and rights under ~l~is Security Instrument, including
protecting and/or assessing the value of the Property, and securing and/or repairing the
Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a
lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying
reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security
Instrument, including its secured position in a bankruptcy proceeding. Securing the Property
includes, but is not limited to, entering the Property to make repairs, change locks, replace or
board up doors and windows, drain water from pipes, eliminate building or other code
violations or dangerous 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 liabilily lbr 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 an~otmts shall bear interest at the Note rate
from the date of disbursement and shall be payable, with such interest, upon notice from Lender
to Borrower requesting payment.
If this Security Instrument is on a leasehold, B~,'l'owcr shall comply with all the
provisions of the lease. If Borrower acquires fee title to thc Property, the leasehold and the fee
title shall not merge unless Lender agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Morlgagc Insurance as a condition of
making the Loan, Borrower shall pay the premiums required ~o maintain the Mortgage Insurance
in effect. If, for any reason, the Mortgage Insurance covcraac required by Lender ceases to be
available from the mortgage insurer that previously provided~such insurance and Borrower was
required to make separately designated payments toward thc l~relniums for Mortgage Insurance,
Borrower shall pay the premiums required to obtain coverage substantially equivalent to the
Mortgage Insurance previously in effect, at a cost substamially equivalent to the cost to
Borrower of the Mortgage Insurance previously in effect, fi',m~ an alternate mortgage insurer
selected by Lender. If substantially equivalent Mortgage II~sUrance coverage ~s not available,
Borrower shall continue to pay to Lender the amount of the separately designated payments that
were due when the insurance coverage ceased to 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 tha~ II~c Loan is ultimately paid in full,
and Lender shall not be required to pay Borrower any intel'CSt or eaFuings on such loss reserve.
Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the
LOAN NO: 574770608
WYOMING - Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form 31151 I/IH
GMACM - CMS.OO42.WY (OOO1) (Page 9 of ,8)
01o6
amount and for the period that Lender requires) provided bi ;m insurer selecte~ by Lender again
becomes available, is obtained, and Lender requires separalcly designated payments toward the
premiums for Mortgage Insurance. If Lender required Nh~rtgage Insurance as a condition of
making the Loan and Borrower was required to make sep:lr.,~tcl3 designated payments toward the
premiums for Mortgage Insurance, Borrower shall pay II~c premiums required to maintain
Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until the Lender's
requirement for Mortgage Insurance ends in accordance wilh any written agreement between
Borrower and Lender providing for such termination ,,r until termination is required by
Applicable Law. Nothing in this Section 10 affects Borrower', obligation to pay interest at the
rate provided in the Note.
Mortgage Insurance reimburses Lender (or any cI~lily that purchases the Note) for
certain losses it may incur if Borrower does not repay thc l.oan as agreed. Borrower 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 agreements with other parties that share or modify their risk, or reduce
losses. These agreements are on terms and conditions tl~:~t arc satisfactory to the mortgage
insurer and the other party (or parties) to these agreements, ri'hose agreements may require the
mortgage insurer to make payments using any source o1' fuxqds that the mortgage insurer may
have available (which may include funds obtained from Mox'tg~tgc Insurance premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer,
any reinsurer, any other entity, or any affiliate of any of thc t'orcgoing, may receive (directly or
indirectly) amounts that derive from (or might be characwri×cd as) a portion of Borrower's
payments for Mortgage Insurance, in exchange for sharing ox' modifying the mortgage insurer's
risk, or reducing losses. If such agreement provides that at~ affiliate of Lender takes a share of
the insurer's risk in exchange for a share of the premiums Ir, fid to the insurer, the arrangement is
often termed "captive reinsurance." Further:
(a) Any such agreements will not affect the amotmts that Borrower has agreed to
pay for Mortgage Insurance, or any other terms of tlw I.oan. Such agreements will not
increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle
Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has - if any - with
respect to the Mortgage Insurance under the Homeoxvners i'rotection 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 Ibc .Mortgage Insurance terminated
automatically, and/or to receive a refund of any Mortgage Insurance premiums that were
unearned at the time of such cancellation or termination.
11. Assignment of Miscellaneous Proceeds; Forl'citure. All Miscellaneous Proceeds
are hereby assigned to and shall be paid to Lender.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3o51
GMACM - CMS.0042.WY (0001) (Page lO Of 15) ,,fili;,,~,:
01 7
If the Property is damaged, such Miscellaneous Pn~cccds shall be applied to restoration
or repair of the Property, if the restoration oi' repair is economically feasible and Lender's
security is not lessened. During such repair and restoration period, Lender shall have the right
to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such
Property to ensure the work has been completed to Lender's satisfaction, provided that such
inspection shall be undertaken promptly. Lender may pay l't~r the repairs and restoration in a
single disbursement or in a series of progress payments as ~l~c work is completed. Unless an
agreement is made in writing or Applicable Law requires interest to be paid on such
Miscellaneous Proceeds, Lender shall not be required to p',l3 Borrower any interest or earnings
on such Miscellaneous Proceeds If the restoration or roi)air 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 tluc, with the excess, if any, paid to
Borrower. Such Miscellaneous Proceeds shall be applied i~ thc order provided for in Section 2.
In the event of a total taking, destruction, 04' h~ss in value of the Property, the
Miscellaneous Proceeds shall be applied to the sums ,toured by this Security Instrument,
whether or not then due, with the excess, if any, paid to B{,i n~\ver.
In the event of a partial taking, destruction, or Ii,ss in value of the Property in which
the fair market value of the Property immediately before thc partial taking, destruction, or loss
in value is equal to or greater than the amount of the sums seem'cd by this Security Instrument
immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender
otherwise agree in writing, the sums secured by this Security lustrument shall be reduced by the
amount of the Miscellaneous Proceeds multiplied by the fifllowing fraction: (a) the total amount
of the sums secured immediately before the partial taking, destruction, or loss in value divided
by (b) the fair market value of the Property immediately bclbrc thc partial taking, destruction, or
loss in value. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, 04' loss in value of the Property in which
the fair market value of the Property immediately before thc partial taking, destruction, 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 Lendc~ otherwise agree in writing, the
Miscellaneous Proceeds shall be applied to the sums secu,'cd by this Security Instrument whether
or not the sums are then due.
If the Property is abandoned by Borrower, or il', al'tut notice by Lender to Borrower
that the Opposing Party (as defined in the next sentence) ol)'Cl'S to make an award to settle a
claim for damages, Borrower fails to respond to Lender withi I 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 b) this Security Instrument, whether
or not then due. "Opposing Party" means the third part) that owes Borrower Miscellaneous
Proceeds or the party against whom Borrower has a right of acnon in regard to Miscellaneous
Proceeds.
LOAN NO: 574770608
WYOMING - Single Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT l'm'm 3051 I,'0[
GMACM - CMS.0042.WY (0001) ~Page 11 of 18) Ilfitials: ~,~/',/~
Borrower shall be in default if any action or procccding, whether Civil or criminal, is
begun that, in Lender's judgment, could result 'in forfeiture t~l' Iht Property or other material
impairment of Lender's interest in the Property or rigllts under this Security Instrument.
Borrower can cure such a default and, if acceleration has ,,cern'red, 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 material m~pairment of Lender's interest
in the Property or rights under this Security Instrument. Thc proceeds of any award or claim for
damages that are attributable to the impairmem of Lender's interest in the Property are hereby
assigned and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied ~o rC~.lrafion or repair of the Property
shall be applied in the order provided for in Section 2.
12. Borrower Not Released; Forbearance By Lcmler Not a Waiver. Extension of
the time for payment or modification of amortization of thc sums secured by this Security
Instrument granted by Lender to Borrower or any Success~lr in Interest of Borrower shall not
operate to release the liability of Borrower or any Succcsst~rs m Interest of Borrower. Lender
shall not be required to commence proceedings against any Successor in Interest of Borrower or
to refuse to extend time for payment or otherwise modify am~rtization of the sums secured by
this Security Instrument by reason of any demand made Ii3' the original Borrower or any
Successors in Interest of Borrower. Any forbearance bx I.cndcr in exercising any right or
remedy including, without limitation, Lender's acceptance of payments from third persons,
entities or Successors in Interest of Borrower or in amounts less than the amount 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 and Assigns Bound.
Borrower covenants and agrees that Borrower's obligatitlnS and liability shall be joint and
several. However, any Borrower who co-signs this Security Instrun]ent but does not execute the
Note (a "co-signer"): (a) is co-signing this Security Instru,ncnt only to mortgage, grant and
convey the co-signer's interest in the Property under the terms o1' this Security Instrument; (b) is
not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that
Lender and any other Borrower can agree to extend, lnodify, forbear or make any
accommodations with regard to the terms of this Securit3 Instrument or the Note without the
co-signer's consent.
Subject to the provisions of Section 18, any Successor m Interest of Borrower who
assumes Borrower's obligations under this Security Instrtm~cm in writing, and 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
Instrument unless Lender agrees to such release in writing. Thc covenants and agreements of
this Security Instrument shall bind (except as provided in Sccli~m 20) and benefit the successors
and assigns of Lender.
~t,'VYOI~llNG-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
GMACM - CMS.0042.WY (0001) (Page 12 of 18)
- -0!39
14. Loan Charges. Lender may charge Borrt~v,'cr fees for services performed in
connection with Borrower's default, for the purpose o1' protecting Lender's interest in the
Property and rights under this Security Instrument, includi,~g, I)ut not limited to, attorneys' fees,
property inspection and valuation fees. In regard to all)' ~Iher lees, the absence of express
authority in this Security Instrument to charge a specific fec to Borrower shall not be construed
as a prohibition on the charging of such fee. Lender m.,~,, nol charge fees that are expressly
prohibited by this Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maxin~um 1.an charges, and that law is finally
interpreted so that the interest or other loan charges collcclcd or to be collected in connection
with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the
amount necessary to reduce the charge to the permitted limit; :tnd (b) any sums already collected
from Borrower which exceeded permitted limits will hc reft,haled to Borrower. Lender may
choose to make this refund by reducing the principal owed trader the Note or by making a direct
payment to Borrower. If a refund reduces principal, thc reduction will be treated as a partial
prepayment without any prepayment charge (whether or n,,t a prepayment charge is provided for
under the Note). Borrower's acceptance of any such relhnd made by direct payment to
Borrower will constitute a waiver of any right of action B, rmwcr might have arising out of such
overcharge.
15. Notices. All Notices given by Borrowc,- or Lender in connection with this
Security Instrument must be in writing. Any notice to B.n,~wcr Ill connection with this Security
Instrument shall be deemed to have been given to Borrox~cr when mailed by first class mail or
when actually delivered to Borrower's notice address if sct~ h3 other means. Notice to any one
Borrower shall constitute notice to all Borrowers unless ,,\pplicable 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 Lender of
Borrower's change of address. If Lender specifies a proccdm'c For reporting Borrower's change
of address, then Borrower shall only report a change .r address through that specified
procedure. There may be only one designated notice address under this Security Instrument at
any one time. Any notice to Lender shall be given by delivering it or by mailing it by first
class mail to Lender's address stated herein unless Lender has designated another 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 Ix'ruler If any notice required by this
Security Instrument is also required under Applicable Law. Thc Applicable Law requirement will
satisfy the corresponding requirement under this Security h~s~mmcnt.
16. Governing Law; Severability; Rules of Co,~trt,ctiou. This Security Instrument
shall be governed by federal law and the law of the jurisdicti{m m which the Property is located.
All rights and obligations contained in this Security Inst|'t|mel~l are subject to any requirements
and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the
parties to agree by contract or it might be silent, but such silence shall not be construed as a
LOAN NO: 574770608
WYOMING - Single Famil) - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT F, ...... ~uSI I/0l
GMACM - CMS.0042.WY (0001) (Page 13 of 18) Initials:
prohibition against agreement by contract. In the evem thai any provision or clause of this
Security Instrument or the Note conflicts with Applicable I.aw. such conflict shall not affect
other provisions of this Security Instrument or the Note whid~ can be given effect without the
conflicting provision.
As used in this Security Instrument: (a) words of thc masculine gender shall mean and
include corresponding neuter words or words of the femimnc gender; (b) words in the singular
shall mean and include the plural and vice versa; and (c) thc word "may" gives sole discretion
without any obligation to take any action.
17. Borrower's Copy. Borrower shall be givctl one copy of the 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 i,' I,cneficial interest in the Property,
including, but not limited to, those beneficial interests transl('rrcd in a bond for deed, contract
for deed, installment sales contract or escrow agreement, ~hc 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 thc Property is sold or transferred
(or if Borrower is not a natural person and a bencfici:d 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 option shall not be exercised
by Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Bom)wer notice of acceleration. The
notice shall provide a period of not less than 30 days t'roln the date the notice is given in
accordance with Section 15 within which Borrower must pay all sums secured by this Security
Instrument. If Borrower fails to pay these sums prior to thc expiration of this period, Lender
may invoke any remedies permitted by this Security Instrulncm without further notice or demand
on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If 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
pursuant to any power of sale contained in this Security Instrument; (b) such other period as
Applicable Law might specify for the termination of Borrmx cr's right to reinstate; or (c) entry of
a judgment enforcing this Security Instrument. Those comlilttms are that Borrower: (a) pays
Lender all sums which then would be due under this Securit3 Instrument and the Note as if no
acceleration had occurred; (b) cures any default of any t,hcr covenants or agreements; (c) pays
all expenses incurred in enforcing this Security Instrument, including, but not limited to,
reasonable attorneys' fees, property inspection and valuation I'ccs, and other fees incurred for the
purpose of protecting Lender's interest in the Property and rights under this Security Instrument;
and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the
Property and rights under this Security Instrument, and Borrower's obligation to pay the sums
secured by this Security Instrument, shall continue unchanged. Lender may require that
Borrower pay such reinstatement sums and expenses in one t~' 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 ul),m al't institution whose deposits are
insured by a federal agency, instrumentality or entily; t,' (d) Electronic Funds Transfer.
WYOMING - single Fatally - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Ft,,'m 31151
GMACM - CMS.0042.WY (0001) (Page 14 of I8) Inili:ds:
0 41
Upon reinstatement by Borrower, this Security Instrumcm a,ltl obligations secured hereby shall
remain fully effective as if no acceleration had 0~curred. I lmvcvcr, this right to reinstate shall
not apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a
partial interest in the Note (together with this Security hlst,'ument) can be sold one or more
times without prior notice-to Borrower. A sale might resull in a change in the'entity (known as
the "Loan Servicer") that collects Periodic Payments tlt~c under the Note and this Security
Instrument and performs other mortgage loan servicing ol~ligations under the Note, this Security
Instrument, and Applicable Law. There also might be one ,,l' more changes of the Loan Servicer
unrelated to a sale of the Note. If there is a change o thc Loan Servicer, Borrower will be
given written notice of the change which will state thc name and address of the new Loan
Servicer, the address to which payments should be marie 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 obligations to Borrower will remain with thc~ k,,an Servicer or be transferred to a
successor Loan Servicer and are not assumed by the Note lin(chaser unless otherwise provided
by the Note purchaser.
Neither Borrower nor Lender may commence, j,fin, t,' be joined to any judicial action
(as either an individual litigant or the member of a class, fl~at arises from the other party's
actions pursuant to this Security Instrument or that alleges ~hat the other party has breached any
provision of, or any duty owed by reason of, this Secul'it, Ii,st(unbent, until such Borrower or
Lender has notified the other party (with such notice givc,l ~,~ colnpliance with the requirements
of Section 15) of such alleged breach and afforded thc othcl- party hereto a reasonable period
after the giving of such notice to take corrective action. Il' Applicable Law provides a time
period which must elapse before certain action can be takcl~, that time period will be deemed to
be reasonable for purposes of this paragraph. The notice t,l' acceleration and opportunity to cure
given to Borrower pursuant to Section 22 and the not,cc t~l' acceleration given to Borrower
pursuant to Section 18 shall be deemed to satisfy the m~t,cc and opportunity to take corrective
action provisions of this Section 20.
21. Hazardous Substances. As used in this Sccti~m 21: (a) "Hazardous Substances"
are those substances defined as toxic or hazardous substances, pollutants, or wastes by
Environmental Law and the following substances: gasoline, kcl'oscne, other flammable or toxic
petroleum products, toxic pesticides and herbicides, v~latilc solvents, materials containing
asbestos or formaldehyde, and radioactive materials; (b) "lh~vironmental Law" means federal
laws and laws of the jurisdiction where the Property is lt~catcd that relate to health, safety or
environmental protection; (c) "Environmental Cleanup" includes any response action, remedial
action, or removal action, as defined in Environment',il Law; and (d) an "Environmental
Condition" means a condition that can cause, contt'ilu~tc to, or otherwise trigger an
Environmental Cleanup.
Borrower shall not cause or permit the presence, usc, disposal, storage, or release of any
Hazardous Substances, or threaten to release any Hazard,,t~s Substances, on or in the 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 Environmental Condition, or (c)
which, due to the presence, use, or release of a Hazardous Substance, creates a condition that
LOAN NO: 574770608
WYOMING - Single Family -- Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Fmm 3~}51 1/01
GMACM- CMS.0042.WY (0001)(Page 15 of 18) hfitials:-'~ '"~'~'~~'~'
adversely affects the value of the Property. The precedin~ two sentences shall not apply to the
presence, use, or storage on the Property of small quantities (4' Hazardous Substances that are
generally recognized to be appropriate to normal resitMitial uses and to maintenance of the
Property (including, but not limited to, hazardous substances ill consumer products).
Borrower shall promptly give Lender written n~ticc of (a) any investigation, claim,
demand, lawsuit or other 'action by any governmental ,,' regulatory agency or private party
involving the Property and any Hazardous Substance or l~lvii-onlnental Law of which Borrower
has actual knowledge, (b) any Environmental Condititm, including but not limited to, any
spilling, leaking, discharge, release or threat of release of any I tazardous Substance, and (c) any
condition caused by the presence, use or release of a l la/ardous Substance which adversely
affects the value of the Property. If Borrower learns, ,,' i~ notified by any governmental or
regulatory authority, or any private party, that any l-Cmoval or other remediation of any
Hazardous Substance affecting the Property is necess:%', Borrower shall promptly take all
necessary remedial actions in accordance with Environmental Law. Nothing herein shall create
any obligation on Lender for an Environmental Cleanup
NON-UNIFORM COVENANTS. Borrower and l.cndcr further covenant and agree as
follows:
22. Acceleration; Remedies. Lender shall gi~e notice to Borrower prior to
acceleration following Borrower's breach of any covellant or agreement in this Security
Instrument (but not prior to acceleration under Section IS uoless Applicable Law provides
otherwise). The notice shall specify: (a) the default; (h) the action required to cure the
default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by
which the default must be cured; and (d) that failm'e to cure the default on or before the
date specified in the notice may result in acceleration or the sums secured by this Security
Instrument and sale of the Property. The notice shall ful'lher inform Borrower of the right
to reinstate after acceleration and the right to bring a court action to assert the
non-existence of a default or any other defense of Bol-i'o~ c,r to acceleration and sale. If the
default is not cured on or before the date specified in thc notice, Lender at its option nmy
require inunediate payment in full of all sums secured In this Security Instrument without
further demand and may invoke the power of sale aud an) other remedies permitted by
Applicable Law. Lender shall be entitled to collect ull expeoses iucurred in pursuing the
remedies provided in this Section 22, including, but not limited to, reasonable attorneys'
fees and costs of title evidence.
If Lender invokes the power of sale, Lender sll:dl give uotice of intent to foreclose
to Borrower and to the person in possession of the l'rollt'rty, if different, in accordance
with Applicable Law. Lender shall give notice of the ~ule to Borrower in the manner
provided in Section 15. Lender shall publish the notice or stile, and the Property shall be
sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the
Property at any sale. The proceeds of the sale shall be allplied in the following order: (a) to
all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all
sums secured by this Security Instrument; and (c) a,~.~ excess to the person or persons
legally entitled to it.
'~I/'YOI~I]NG - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT From to51 1/01
GMACM- CMS.0042.WY (000l)(Page 16of18) h ii, ii,Is ~/~)~"~----
,-0!43
23. Release. Upon payment of all sums secured b3 this Security Instrument, Lender
shall release this Security Instrument. Borrowei' shall I):%' an} recordation costs. Lender may
charge Borrower a fee for releasing this Security Instrumcl,. but only if the fee is paid to a third
party for services rendered and the charging of the fee is l)crmittcd under Applidable Law.
24. Waivers. Borrower releases and waives ,Il ri,,nts under and by virtue of the
homestead exemption laws Of Wyoming.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants
contained in this Security Instrument and in any Rider cxcct,cd by Borrower and recorded with
it.
~iqton R~ Hg~gep~, Trustee of t~ Winton R. Hudgens and Jani~gwer
~u~gens ~aml±v m~vin~ Trust Trust undez trust ~nstrument dated
March 18, 199~, for Ehe benefit of Winston R. Hudgens and Janis
B. Hudgens.
~eaO
~aqis B.~Hud~ens, Tr~tee of the Winton~N. Hudgens and Janis-~0wer
nu~gens ~ami±v L~vin~ Trust Trust under trust instrument dated
March 18, 199~, for Ehe benefit of Winston R. Hudgens and Janis
B. Hudgens.
(Seal)
, -Borrower
By signing below, the undersigned. Settler%s) of the Wxnton R.
Hudgen~ and Janis B. Hudgens Familv Living Trust Trust under
trust instrument d~ted March 18, 1994. f()}~ the benefit of Winston
R. Hudgens and Janl~ B. Hud~ens , acknow]edqes all of the terms
and covenants ~t~n~ i~ ~he ~curgty I~s~ument and any
~ , ///~ / ., _~ ~J~ -Borrower
~fii~ B. Huff~ens, ~rust Setf~or .
LOAN NO: 574770608
Witnesses:
WYOMING - Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT F,,,',, 3tl51 /111
GMACM - CMS.0042.WY (0001) (Page 17 of lS)
INDIVIDUAL ACKNOWLEI)GMENT
STATE OF WYOMING, )
COUNTY OF )
The foregoing instrument was acknowledged before mc this
November 30, 2004
{dlllc)
by
Winton R. Hudgens and ganis B. Hudgens, T~ustees of the Winton R.
Hudgens and Janis B. Hudgens Family Trust dated March 18, 1994
and amended August 28, 2000.
(person acknowledging)
My Commission Expires:
pt,~'~RSON ' N~'~'~,~~
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fm-m 3{151 l'01 ~, ~ ~g~ ~L
GMACM - CMS.0042.WY (0001) (Page 18 of 18) I,filial~' ~.~/.~/~ 11
,-0!/t5
Schedule A
Wyoming Mortgage
Given By: Winton R. Hudgens and Janis B. Hudoens
Page 1
Part of Section 18, T31N RllSW of the 6th p.rq Lincoln County,
Wyoming, being more particularly described as ~ollows: Beginning
at the Southwest corner of the NWl/4 of said Section 18 and
running thence North 40 rods; thence East 40 rods; thence South
40 rods; thence West 40 rods to the place of beginning.
,. 0146
INTERVIVOS TRUST RIDER
THIS INTERVIVOS TRUST RIDER is made this 30 th day of November
2004 , and is incorporated into and shall be deemed to ,'.ncml and supplement the Mortgage,
Deed of Trust, or Security Deed (the "Security Instrument" ~ (ff even date given by Borrower to
secure a Note to
GMAC Mortgage Corporation
("Lender") of even date and covering the property described in the Security Instrument and
located at:
2840 State Highway 241
Afton, WY 83110
[Property Address]
Borrower is Trust. The 'undersigned hereby' certifies to Lender that Borrower is an
intervivos trust ("Trust") and that title to the Property is held by the trustee on behalf of the
Trust, If the trustee is not an Individual, it has executed tl~e Security Instrument with the
understanding that is not acting in its individual capacity and that Lender in ehforcing its
rights under the Security Instrument shall not look t~ thc assets of the trustee, in its
individual capacity, except to the extent of the Trustee's imcrest in the Property.
Notification of Transfers and Changes. Within thirty days of the occurrence of any of the
following events, Borrower shall provide written notice to I.ender of: (a) any change in the
trustee of the Trust (whether such change is temporary .r permanent), (b) any sale, transfer,
assignment or other disposition (whether by operation ot' I:txx or otherwise) of any beneficial
interest in the Trust, or (c) any change in the occupancy o1' thc Property.
3. Lender's Option to Accelerate. If, without Lender'~ pri,~r written consent. (a) there is a
change in the trustee of the Trust, or (b) there is a sale, transfer, assignment or other
disposition of any beneficial interest in the Trust, or (c) there is a change in the occupancy of
the Property, Lender may, at 'its. option, require imn~cdiatc payment in full of all sums
secured by the Security Instrument. If Lender demand.~ pa) lllCll[ in full of all sums secured
by the Security Instrument, Lender shall provide thc same period of notice for payment as
provided in Section 18 of the Security Instrument, and il' Borrower fails to pay within such
period of time, Lender may invoke any and all remedies permitted by the Security Instrument
without further notice to or demand on Borrower.
LOAN #: 574770608
INTERVIVOS TRUST RIDER ,,~.Jr~."
Page I of 2 275228550 Initials
GMACM - CRM.0363 (o101!
BY SIGNING BELOW, Borrower accepts and agrees to Iht terms and covenants contained in
this Intervivos Trust Rider. -
/ / -Borrower
Winton R. Hudgens, Trustee of the Win[o~ ~j... Hudgens and Ja~is 8'
Hudgens Familv Livin~ Trust Trust unoer trust instrument dateo
March 18, 199[, for fhe benefit of Winston R. Hudgens and Janis
B. Hudgens.
-Borrower
Janis B. Hu~gens, Trustee of the Winton R. tludgens and Janis B.
Hudgens Fammlv Lxvin~ Trust Trust under [:ust instrument dated
March 18, 199~, for fhe benefit of Winston R. Hudgens and Janis
B. Hudgens.
(Seal)
By signing below, the undersigned. Settlor s) of the Winton R.'B°rr°wer
Hudgens and Janis B. Hudgens Familv Living 'Trust Trust under
trust instrument dated March 18, 1994, for the benefit of W~nston
R. Hudgens and Janig B. Hud~ens , agknowl~dges all of the terms
and covenants contai_n.e~ i~_~Jae Securltv~ Instrument and
...... ?~.~7_~ (Seal)
Winton R. Hu~gens', Trust ~'~r
. ' ' {~/ /., . / .... Borrower
~mnSs' B. /~udg~ns,/~rust S~:[l~r -
LOAN #: 574770608
INTERVIVOS TRUST RIDER
GMACM - CRM.0363 1OlOll
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