HomeMy WebLinkAbout905601 RECEIVED 1/3/2005 at 2:20 ~'~vl
RECEIVING # 90560'i
BOOK: 576 PAGE:
JEANNE WAGNEI:
LINCOLN COUNTY CLERK, KEaqa,riERER, WY
[Space Above This Line For Recording Data]
0378
MORTGAG
DEFINITIONS
Words used in multiple sections of this document are defined below ;m~l etitcr words are defined in Sections 3, 11, 13, 18,
20 and 21. Certain rules regarding the usage of words used in this doctni~clll arc also provided in Section 16.
(A) "Security Instrument" means this document, which is dated ................... J.2.-.2..3:.2.0.0..4 ............... together
with all Riders to this document.
(B) "Borrower" is .R..0.N..1....P.0..T.I.E..R..A..N.D. ~ .A.Y.L..A..D....P.0.1..I.E.R..1..R.U..S.I.E.[..8..0.F..T!I.( .I'.0?.T. ~.R..F.A..M..L.y..R.E.V..0.C..A.BL.E TRUST..D.A.I..E.D..N.O.V..[.M..B.E..R.J.9.,.
2003
Borrower is the mortgagor under this Security Instrument.
(C) "Lender" is ..I.H.E..B..A.N..K..0..F.8..13.8. .V.A..L.L.[.Y. .................................................................................................
...................................................................................................................................... Lender is a
................................................................................................. organized and existing under the laws of
.1..H.E..S.l..A.I..[..0.F..W..Y.0..M.[N. ~ ................................................... Lend~:~" s address is .'3.8.4..W..A..S.H.I~.G.T..0~ .S..T.R.E. ,E.T.,. p.O..B..0.X..8.9.0.7.,
.a..[.l.0..~,..w..Y..8..3J.!.0 ........................................................... Lc~,l~.~ is the mortgagee under this Security Instrument.
(D) "Note" means the promissory note signed by Borrower and dated 12:' ~3:2.(~0.4 .............................................. The
Note states that Borrower owes Lender .E!.0.H..T.Y..F.0..U.R..I..H.q.u.8..A.N..D..F.0.U..R..H.[J!![).I![I~..A..~p..~.O./J.0..0 ............................................
................................................. Dollars (U.S. $ .8.4..4..00.00 ................ ) plus interest. Borrower has promised to
pay this debt in regular Periodic Payments and to pay the debt in full i~, ,t l'atcr than .1.2-..3J:~.0.0.[ ....................................
(E) "Property" means the property that is described below under the hc,din~ "Transfer of Rights in the Property."
(F) "Loan" means the debt evidenced by the Note, plus interest, an.~ l~Cpayment charges and late charges due under the
Note, and all sums due under this Security Instrument, plus interest.
(G) "Riders" means all Riders to this Security Instrument that are c.w~:uted by Borrower. The following Riders are to be
executed by Borrower [check box as applicable]:
[] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider
[] Balloon Rider [] Planned Unit Development Rider [] Other(s) [specify] ......................
[] 1-4 Family Rider [] Biweekly Payment Rider
(H) "Applicable Law" means all controlling applicable federal, stale alld local statutes, regulations, ordinances and
administrative rules and orders (that have the effect of law) as well as all :q~plicable final, non-appealable judicial opinions.
(I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other char. ges that are
imposed on Borrower or the Property by a condominium association, hu~t~.,,wncrs association or similar organization.
(J) "Electronic Funds Transfer means anytransfer of funds, othc~ dl.,m a transaction originated by check, draft, or
similar paper instrument, which is initiated through an electronic t~rntillal, telephonic instrument, computer, or magnetic
tape so as to order, instruct, or authorize a financial institution to d~.~,i~ or credit an account. Such term includes, but is
not limited to, point-of-sale transfers, automated teller machine tl:msactions, transfers initiated by telephone, wire
transfers, and automated clearinghouse transfers.
(K) "Escrow Items" means those items that are described in Section 3.
(L) Miscellaneous Proceeds means any compensation, settlement, ~,,vard of damages, or proceeds paid by any third
party (other than insurance proceeds paid under the coverages descril~cd m Section 5) Ior: (i) damage to, or destruction of,
the Property; (ii) condemna~tion or other taking of all or any part of th~. l'r,)perty; (iii) conveyance in lieu of condemnation;
or (iv) misrepresentations or, or omissions as to, the value andlor conditi,,nof thc Property.
(M) "Mortgage Insurance" means insurance protecting Lender againsl [l~c nonpayment of or default on, the Loan.
(N) Periodic Payment" means the regularly scheduled amount duc h,r ti) pnncipal and interest under the Note, plus
(ii) anyamounts under Section 3 of this Security Instrument.
(O) "RESPA" means the Real Estate Settlement Procedures Act ~12 t.J.S.C. §2601 et seq.) and its implementing
regulation, Regulation X (24 C.F.R. Part 3500), as they might bc :tmcndcd from time to time, or any add!tional o,r
successor legislation or regulation that governs the same subject maftc~. As used in this Security Instrument, 'RESPA'
refers to all requirem,,ents and restrictions that are imposed in regard tt, :, "federally related mortgage loan" even if the Loan
does not qualify as a federally related mortgage loan under RESPA.
(P) "Successor in Interest of Borrower means any party that has taken [itlc'to the Property, whether or not that party has
assumed Borrower's obligations under the Note and/or this Security In~l?mcnt.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the I t,:m, and all renewals, extensions and modifications
of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note.
For this purpose, Borrower does hereby mortgage, grant and convey h~ l.cndcr and Lender's successors and assigns, with
power of sale, the following described property located in the .L!.N.C..0.L.t.! ............................................................ of
[Type of Recording Jurisdiction]
AFTON
[Name of Recording Jurisdiction]
SEE SCHEDULE 6 ATTACHEB HERETO AND MADE APART HEREOF
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMEN]
Bankers Systems, Inc., St. Cloud, MN Form MD-l-WY 8/21/2000
reft 1/2OO1
Form 3051 1/01
whi'dh ~urrently has the address of .3. .2.5. .M.0. .N.F~ 0.[ ~T[~.[i[ 7 .................................................................. :.....f~.3.7.
[Street]
AFTON
.................................................................. Wyoming..8.3.! .1.0. ................................ ("Property Address"):
[City[ [Zip Code[
TOGETHER WITH all the improvcmc~ now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereafter a p:~l'~ ,,f the property. All replacements and additions shall also be covered
by this Security Instrument. All of the foregoing ix r,'lcrred to in this Security Instrument as the "Property."
BORROWER COVENANTS that Borrox~cr is lawfully seised of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and ~1~:~ ~he Property is unencumbered, except for encumbrances of record.
Borrower warrants and will defend generally ~hc ~i~lc to the Property against all claims and demands, subject to any
encumbrances of record.
THIS SECURITY INSTRUMENT combines ~iniform covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a unil,,~ security instrument covering real property.
UNIFORM COVENANTS. Borrower and I.c'~der covenant and agree as follows:
1. Payment of Principal, Interest, Escrm~ ltems, Prepayment Charges, and Late Charges. Borrower shall pay
when due the principal of, and interest on. tilt: dO,~ evidenced by the Note and any prepayment charges and late charges
due under the Note. Borrower shall also pay funds h~r Escrow Items pursuant to Section 3. Payments due under the Note
and this Security Instrument shall be made in 1,:-; currency. However, if any check or other instrument received by
Lender as payment under the Note or this Sccm'i~v I~,trument is returned to Lender unpaid, Lender may require that any
or all subsequent payments due under the No~c ~:,1 this Security Instrument be made in one or more of the following
forms, as selected by Lender: (a) cash; (b) mono,.' ,,rder; (c) certified check, bank check, treasurer's check or cashier's
check, provided any such check is drawn t~l,,,~ an institution whose deposits are insured by a federal agency,
instrumentality, or entity; or (d) Electronic Funds I
Payments are deemed received by Lender v. hcn received at the location designated in the Note or at such other
location as may be designated by Lender in acc~,t~,~cc With the notice provisions in Section 15. Lender may return any
payment or partial payment if the payment or p:~rli.d payments are insufficient to bring the Loan current. Lender may
accept any payment or partial payment insufficient ~,, bring the Loan current, without waiver of any rights hereunder or
prejudice to its rights to refuse such payment or p:~tial payments in the future, but Lender is not obligated to apply such
payments at the time such payments are accepted. 11 each Periodic Payment is applied as of its scheduled due date, then
Lender need not pay interest on unapplied l\mds, l.c.~clcr may hold such unapplied funds until Borrower makes payment to
bring the Loan current. If Borrower does not d~, s,, within a reasonable period of time, Lender shall either apply such
funds or return them to Borrower. If not applied ~':t['lier, such funds will be applied to the outstanding principal balance
under the Note immediately prior to foreclosm'c, i',;,, offset or claim which Borrower might have now or in the future
against Lender shall relieve Borrower from nt:~t.i~,Z payments due under the Note and this Security Instrument or
performing the covenants and agreements secured h,. ~h is Security Instrument.
2. Application of Payments or Proceeds. I '.:ct:pt as otherwise described in this Section 2, all payments accepted
and applied by Lender shall be applied in the f~>ll,,v. }llg order of priority: (a) interest due under the Note; (b) principal due
under the Note; (c) amounts due under Section 3. ~<:t~ payments shall be applied to each Periodic Payment in the order in
which it became due. Any remaining amonnts sh;dl I.<. applied first to late charges, seCond to any other amounts due under
this Security Instrument, and then to reduce thc pFil~c~t,:d balance of the Note.
If Lender receives a payment from B{~rr{~v.t'~ I'~r a delinquent Periodic Payment which includes a sufficient amount
to pay any late charge due, the payment may bc :,l:plicd to the delinquent payment and the late charge. If more than one
Periodic Payment is outstanding, Lender may appI7 :,ny payment received from Borrower to the repayment of the Periodic
Payments if, and to the extent that, each paymcn~ ~:~ be paid in full. To the extent that any excess exists after the payment
is applied to the full payment of one or more l','ri,,,lic Payments, such excess may be applied to any late charges due.
Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance pr,,, ='cds, or Miscellaneous Proceeds to principal due under the Note shall
not extend or postpone the due date, or changt: tl~c am~, ,unt, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shrill pay to Lender on the day Periodic Payments are due under the Note,
until the Note is paid in full, a sum (the "Funds', ~,, provide for payment of amounts due for: (a) taxes and assessments
and other items which can attain priority over ~hi.. Security Instrument as a lien or encumbrance on the Property; (b)
leasehold payments or ground rents on the Pr~,t,c~r.. if any; (c) premiums for any and all insurance required by Lender
under Section 5; and (d) Mortgage Insuranct: pFcm*t~ms, if any, or any sums payable by Borrower to Lender in lieu of the
payment of Mortgage Insurance premiums in ;,'c,,rdance with the provisions of Section 10. These items are called
"Escrow ItemS." At origination or at any lime ,h,ring the term of the Loan, Lender may require that Community
Association Dues, Fees, and Assessments, il' any. t,t' escrowed by Borrower, and such dues, fees and assessments shall be
an Escrow Item. Borrower shall promptly furnish ~,, l.cnder all notices of amounts to be paid under this Section. Borrower
shall pay Lender the Funds for Escrow Items UlllC~, l.ender waives Borrower's obligation to pay the Funds for any or all
Escrow Items. Lender may waive Borrower's o},li?:~i~,n to pay to Lender Funds for any or all Escrow Items at any time.
Any such waiver may only be in writing. In d~' ,".'cut of such waiver, Borrower shall pay directly, when and where
payable, the amounts due for any Escrow Item< I,,~' which payment of Funds has been waived by Lender and, if Lender
requires, shall furnish to Lender receipts cvith:~l, il~g such payment within such time period as Lender may require.
Borrower's obligation to make such payments and i,, provide receipts shall for all purposes be deemed to be a covenant and
agreement contained in this Security InstrulnCnt. ~,, thc phrase "covenant and agreement" is used in Section 9. If Borrower
is obligated to pay Escrow Items directly, pursu:~ ~,~ a waiver, and Borrower fails to pay the amount due for an Escrow
Item, Lender may exercise its rights under Scc~i,,~ 9 and pay such amount and Borrower shall then be obligated under
Section 9 to repay to Lender any such amount. I c'r~,h'r may revoke the waiver as to any or all Escrow Items at any time by
a notice given in accordance with Section 15 a~I. ~i,,'n such revocation, Borrower shall pay to Lender all Funds, and in
such amounts, that are then required under this Sc.c.t i, ,t~ 3.
Lender may, at any time, collect and hold [.!lt~ds in an amount (a) sufficient to permit Lender to apply the Funds at
the time specified under RESPA, and (b) not t{) c'.:, ccd the maximum amount a lender can require under RESPA. Lender
shall estimate the amount of Funds due on [tit.' I):~,,i~ of current data and reasonable estimates of expenditures of future
Escrow Items or otherwise in accordance with ,,\ppi i~_:~ble Law.
The Funds shall be held in an instituti(m x, I,,,~e deposits are insured by a federal agency, instrumentality, or entity
(including Lender, if Lender is an institution wh(,s~, deposits are so insured) or in any Federal Home Loan Bank. Lender
shall apply the Funds to pay the Escrow Items ~,, later than the time specified under RESPA. Lender shall not charge
Borrower for holding and applying the Funds. :~mt~ally analyzing the escrow account, or verifying the Escrow Items,
unless Lender pays Borrower interest on thc I:tm,l~ .~nd Applicable Law permits Lender to make such a charge. Unless an
agreement is made in writing or Applicable Law r,',l~ires interest to be paid on the Funds, Lender shall not be required to
pay Borrower any interest or earnings on thc l:t~,!~. Borrower and Lender can agree in writing, however, that interest
shall be paid on the Funds. Lender shall give to II,,~ower, without charge, an annual accounting of the Funds as required
by RESPA.
If there is a surplus of Funds held in cscr,,v., as defined under RESPA, Lender shall account to Borrower for the
excess funds in accordance with RESPA. If there i': ~t shortage of Funds held in escrow, as defined under RESPA, Lender
WYOMING - Single Family- Fannie Mae/Freddie Mac LINI[ORM INSTRUMENT Form 3051 1/01
Bankers Systems, Inc., St. Cloud, MN Form MD-I-WY 8/21/2000 (page 2 of 7pages) __
shall notify Borrower as required by RESPA, and Borrower shall p<. t,) l.cnder the amount necessary to make up the
shortage in accordance with RESPA, but in no more than 12 monthly i)~?ments. If there is a deficiency of Funds held in
escrow, as defined under RESPA, Lender shall notify Borrower as reqt~i~,.,l by RESPA, and Borrower shall pay to Lender
the amount necessary to make up the deficiency in accordance with RESP.', but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrum,:~, 1.ender shall promptly refund to Borrower any
Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, ch:u'gcs, fines, and impositions attributable to the
Property which can attain priority over this Security Instrument, leasch,~l,I payments or ground rents on the Property, if
any, and Community Association Dues, Fees, and Assessments, if an'. 1() thc extent that these items are Escrow Items,
Borrower shall pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priorit3 [,'.cr ttlis Security Instrument unless Borrower: (a)
agrees in writing to the payment of the obligation secured by the lien iu :, manner acceptable to Lender, but only so long as
Borrower is performing such agreement; (b) contests the lien in good l:t~th by, or defends against enforcement of the lien
in, legal proceedings which in Lender's opinion operate to prevent thc c~l~,rccment of the lien while those proceedings are
pending, but only until such proceedings are concluded; or (c) secures l~,,~t thc holder of the lien an agreement satisfactory
to Lender subordinating the lien to this Security Instrument. If Lender d~ ~ct mines that any part of the Property is subject to
a lien which can attain priority over this Security Instrument, Lendc~ .~,y give Borrower a notice identifying the lien.
Within 10 days of the date on which that notice is given, Borrower shali ~atisfy the lien or take one or more of the actions
set forth above in this Section 4.
Lender may require Borrower to pay a one-time charge for a ~',l estate tax verification and/or reporting service
used by Lender in connection with this Loan.
5. Property Insurance. Borrower shall keep the improvements ~,w existing or hereafter erected on the Property
insured against loss by fire, hazards included within the term "extended c~,vcrage," and any other hazards including, but
not limited to, earthquakes and floods, for which Lender requires in~u~:mcc. This insurance shall be maintained in the
amounts (including deductible levels) and for the periods that Lender ~'cquires. What Lender requires pursuant to the
preceding sentences can change during the term of the Loan. The insur:~'c carrier providing the insurance shall be chosen
by Borrower subject to Lender's right to disapprove Borrower's choice. ,,,, hich right shall not be exercised unreasonably.
Lender may require Borrower to pay, in connection with this Lt,:u~. cith~r: (a) a one-time charge for flood zone
determination, certification and tracking services; or (b) a one-time ch:t~ :e h)r flood zone determination and certification
services and subsequent charges each time remappings or similar ch.m~cs occur which reasonably might affect such
determination or certification. Borrower shall also be responsible fur tl~c payment of any fees imposed by the Federal
Emergency Management Agency in connection with the review oI :~nv flood zone determination resulting from an
objection by Borrower.
If Borrower fails to maintain any of the coverages described :d,.,xc, Lender may obtain insurance coverage, at
Lender's option and Borrower's expense. Lender is under no obligati,,~ l,, purchase any particular type or amount of
coverage. Therefore, such coverage shall cover Lender, but might or n~,.;m n~,l protect Borrower, Borrower's equity in the
Property, or the contents of the Property, against any risk, hazard or l i:,l,~li~x and might provide greater or lesser coverage
than was previously in effect. Borrower acknowledges that the c{),l ,~i the insurance coverage so obtained might
significantly exceed the cost of insurance that Borrower could have obtz~incd. Any amounts disbursed by Lender under this
Section 5 shall become additional debt of Borrower secured by this Sctt~ ity Instrument. These amounts shall bear interest
at the Note rate from the date of disbursement and shall be payable, ,,,,ith such interest, upon notice from Lender to
Borrower requesting payment.
All insurance policies required by Lender and renewals of suci~ policies shall be subject to Lender's right to
disapprove such policies, shall include a standard mortgage clause, :~.1 .shall name Lender as mortgagee and/or as an
additional loss payee. Lender shall have the right to hold the polk~.,, and renewal certificates. If Lender requires,
Borrower shall promptly give to Lender all receipts of paid premiums :~l renewal notices. If Borrower obtains any form
of insurance coverage, not otherwise required by Lender, for damage t ..... r destruction of, the Property, such policy shall
include a standard mortgage clause and shall name Lender as mortgagee a~,l ~ ~r as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the in,~:mcc carrier and Lender. Lender may make proof
of loss if not made promptly by Borrower. Unless Lender and Bt)~,,'.ver otherwise agree in writing, any insurance
proceeds, whether or not the underlying insurance was required by Lcudc:, shall be applied to restoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and
restoration period, Lender shall have the right to hold such insurance lu',~cceds until Lender has had an opportunity to
inspect such Property to ensure the work has been completed to Lendc~ 's satisfaction, provided that such inspection shall
be undertaken promptly. Lender may disburse proceeds for the repairs zt~l,I restoration in a single payment or in a series of
progress payments as the work is completed. Unless an agreement is ll~.t~lt_, ii1 writing or Applicable Law requires interest
to be paid on such insurance proceeds, Lender shall not be required h, pay Borrower any interest or earnings on such
proceeds. Fees for public adjusters, or other third parties, retained b'. I~rrowcr shall not be paid out of the insurance
proceeds and shall be the sole obligation of Borrower. If the restorati(m ,,~ repair is not economically feasible or Lender's
security would be lessened, the insurance proceeds shall be applied I~ tile sums secured by this Security Instrument,
whether or not then due, with the excess, if any, paid to Borrower. Sud~ insurance proceeds shall be applied in the order
provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate :uM settle any available insurance claim and related
matters. If Borrower does not respond within 30 days to a notice fr,,m l.cnder that the insurance carrier has offered to
settle a claim, then Lender may negotiate and settle the claim. The 30 cl:l,.' period will begin when the notice is given. In
either event, or if Lender acquires the Property under Section 22 or ,,~licrwise, Borrower hereby assigns to Lender (a)
Borrower's rights to any insurance proceeds in an amount not to exceed II~' 'amounts unpaid under the Note or this Security
Instrument, and (b) any other of Borrower's rights (other than the Fi..'h~ t,~ any refund of unearned premiums paid by
Borrower) under all insurance policies covering the Property, insofar a~, ,qlcti rights are applicable to the coverage of the
Property. Lender may use the insurance proceeds either to repair or rc:,h,~c the Property or to pay amounts unpaid under
the Note or this Security Instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Ih,,l)Crty as Borrower's principal residence within 60
days after the execution of this Security Instrument and shall continue ~, occupy the Property as Borrower's principal
residence for at least one year after the date of occupancy, unless Lendc~ ,)therwise agrees in writing, which consent shall
not be unreasonably withheld, or unless extenuating circumstances exist x~ hich arc beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Propert3: luspections. Borrower shall not destroy, damage
or impair the Property, allow the Property to deteriorate or commit \~.:tMc c)n the Property. Whether or not Borrower is
residing in the Property, Borrower shall maintain the Property in o~lcr tt~ prevent the Property from deteriorating or
decreasing in value due to its condition. Unless it is determined pUFs~mt tt) Section 5 that repair or restoration is not
economically feasible, Borrower shall promptly repair the Property il' d:nnagcd to avoid further deterioration or damage.
If insurance or condemnation proceeds are paid in connection with d:u~:,~c to, or the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property only if Lendc~ has rdeased proceeds for such purposes. Lender
may disburse proceeds for the repairs and restoration in a single paymcm t~r in at series of progress payments as the work is
completed. If the insurance or condemnation proceeds are not sufficien[ t,, repair or restore the Property, Borrower is not
relieved of Borrower's obligation for the completion of such repair or re~l, ,~ :~t ion.
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Bankers Systems, Inc., St. Cloud, MN Form MD-l-WY 8/21/2000
(page 3 of 7 pages) .
Lender or its agent may make reason;d~lc t'r~tries upon and inspections of the Property. If it has reasonable cause,
Lender may inspect the interior of the improvcmc,~t~ on the Property. Lender shall give Borrower notice at the time of or
prior to such an interior inspection specifying such ~:~sonable cause.
8. Borrower's Loan Application. Bori'~,',~.,~r shall be in dehult if, during the Loan application process, Borrower
or any persons or entities acting at the dircctic, n ,,1' Borrower or with Borrower's ~owledge or consent gave materially
hlse, misleading, or Naccurate info~ati(m ,,~ ~tatements to Lender (or failed to provide Lender with material
info~ation) in co~ection with the Loan. ~I~, rial representations Nclude, but are not l~ited to, representations
concernNg Borrower's occupancy of the Propcr~y :~: ~/orrower's principal residence.
9. Prot~tion of Lender's Interest in llw ~'roperty and ~ghts Under this Security Instrument. If (a) Borrower
hils to perfo~ the covenants and agreements ~:~,n~dned in this Security Inst~ment, (b) there is a legal proceeding that
might significantly affect Lender's intcres~ in ~h,: Property and/or rights under this Security Instrument (such as a
proceeding in ba~mptcy, probate, for condcmn:~i,m or forfeiture, for enforcement of a lien which may attain priority
over this Securi~ Instrument or to enforce laxt. s ,,r regulations), or (c) Borrower has abandoned the Property, then Lender
may do and pay for whatever is reasonable {)r :~pp~, ,priate to protect Lender's interest in the Property and rights under this
Security Instrument, Ncluding protecting and.,,~ :~ssessing the value of the Property, and securNg and/or repairing the
Property. Lender's actions can include, but ~c H,,~ limited to: (a) paying any sums secured by a lien which has priority
over this Security Inst~ment; (b) appearing in c,,t~: and (c) paying reasonable attorneys' fees to protect its imerest in the
Property and/or rights under this Security lnstrm~'nt, including its secured position in a ba~ptcy proceeding. Securing
the Property includes, but is not l~ited to, cmcri~: the Property to make repairs, change locks, replace or board up doors
and windows, drain water from pipes, elimin:t~,: building or other code violations or dangerous conditions, and have
utilities turned on or off. Although Lender ma', ~:~Ic 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 :L~z~ccd that Lender incurs no liabili~ for not taking any or all actions
authorized under this Section 9.
Any amounts disbursed by Lender under d~is Section 9 shall become additional debt of Borrower secured by this
Security Instrument. These amounts shall bear m~ztcst at the Note rate from the date of disbursement and shall be payable,
with such interest, upon notice from Lender to I~ ,~, ~wer requesting payment.
If this Security Instrument is on a Icasd~,,ld, Borrower shall comply with all the provisions of the lease. If
Borrower acquires fee title to the Property, thc l,:~tsehold and the fee title shall not merge uffiess Lender agrees to the
merger in writing.
10. Mortgage Insurance. If Lender rctlt~r,'d Mortgage Insurance as a condition of making the Loan, Borrower
shall pay the premiums required to maintain thc' ',t~,rtgage Insurance in effect. If, for any reason, the Mortgage Insurance
coverage required by Lender ceases to be avail:~bl~' l'rom the mortgage ~surer that previously provided such insurance and
Borrower was required to make separately tlcsi),.nJ*cd payments toward the premiums for Mortgage Insurance, Borrower
shall pay the premiums required to obtain c()vt:r:~, ~ubstantially equivalent to the Mortgage Insurance previously in effect,
at a cost substantially equivalent to the cost t(~ l l~,~wer of ~e Mortgage Insurance previously in effect, from an alternate
mortgage insurer selected by Lender. If subs~m~i:~ilv equivalent Mortgage Insurance coverage is not available, Borrower
shall cont~ue to pay to Lender the amtmnt ,,I ~hc separately designated payments that were due when the insurance
coverage ceased to be in effect. Lender will ac~'~'i,x use and retain these payments as a non-re~ndable loss reserve in lieu
of Mortgage Insurance. Such loss reserve sh:~ll }.~z non-re~ndable, notwithstandNg the hct that the Loan is ult~ately
paid in ~11, and Lender shall not be required ~,, p;,'. Borrower any interest or earnings on such loss reserve. Lender can no
longer require loss reserve payments if Nh~rt5~:~? Insurance coverage (in the amount and for the period that Lender
requires) provided by an Nsurer selected by I c*~l~· again becomes available, is obtained, and Lender requires separately
designated payments toward the premiums f~,r ~l,.~gage Insurance. If Lender required Mortgage Insurance as a condition
of making the Loan and Borrower was rctl~i,~.:~ to make separately designated payments toward the premiums for
Mortgage Insurance, Borrower shall pay thc pr~'~,mas required to maintain Mortgage Insurance in effect, or to provide a
non-re~ndable loss reserve, until Lender's ru~l~-cment for Mortgage Insurance ends in accordance with any written
agreement between Borrower and Lender prc,~i,li~,5*, for such te~ination or until te~Nation is required by Applicable
Law. Nothing in this Section 10 affects Borrower~,~ ~ .hligation to pay interest at the rate provided in the Note.
Mortgage Insurance re~burses Lender {~,~ ;my entity that purchases the Note) for certain losses it may incur if
Borrower does not repay the Loan as agreed, ll,~rr,,,.,, cr is not a party to the Mortgage Insurance.
Mortgage insurers evaluate their total ri54: ,m all such insurance in force from t~e to t~e, and may enter into
agreements with other parties that share or m,,[lilv their risk, or reduce losses. These agreements are on te~s and
conditions that are satishctory to the mor~??: insurer and the other party (or parties) to these agreements. These
agreements may require the mortgage insurer t,, ~]:~ke payments using any source of ~nds that the mortgage Nsurer may
have available (which may include ~nds obtained l t< ,m Mortgage Insurance premiums).
As a result of these agreements, Lender, :~'., purchaser of the Note, another insurer, any reNsurer, any other entity,
or any affiliate of any of the foregoing, m:~v ~'ccive (directly or indirectly) amounts that derive from (or might be
characterized as) a portion of Borroweds p~?~t~s for Mortgage Insurance; N exchange for sharing or modi~Ng the
mortgage Nsurer's risk, or reducing losses. Il' sHch :tgreement provides ~at an affiliate of Lender takes a share of ~surer's
risk N exchange for a share of the premiums p:~id to the Nsurer, the arrangement is o~en te~ed "captive reNsurance."
Further:
(a) Any such agreements will not a[[t.t:t the amounts that Borrower has agreed to pay for Mortgage
Insurance, or any other terms of the Loan. ~:~M~ agreements will not increase the amount Borrower will owe for
Mortgage Nsurance, and they will not entitle~ Bm'rower to any refund.
(b) Any such agreements will not alTt~t the rights Borrower has--if any--with respect to the Mortgage
Insurance under the Homeowners Protecdm~ ~('t of 1998 or any other law. These rights may include the right to
receive certain disclosures, to request and ~l,g.~Jn cancellation of the Mortgage Insurance, to have the Mortgage
Insurance terminated automatically, and/re' ~ receive a refund of any Mortgage Insurance premiums that were
unearned at the time of such cancellation or tcr~ination.
11. Assigment of ~scellaneous l'roct?ds: Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
shall be paid to Lender.
If ~e Property is dmaged, such Misccll:~,.,~us Proceeds shall be applied to restoration or repair of the Property, if
the restoration or repair is economically l'casibl~: :~;x<l Lender's security is not lessened. During such repair and restoration
period, Lender shall have the right to hold such ~',liscellaneous Proceeds until Lender has had an oppor~ty to inspect
such Property to ensure the work has bccn c{,~W,Icted to Lender's satisfaction, provided that such inspection shall be
undertaken promptly. Lender may pay for thc ~,:~irs and restoration in a s~gle disbursement or in a series of progress
payments as the work is completed. Unless an :~,~:cment is made in writing or Applicable Law requires interest to be paid
on such Miscellaneous Proceeds, Lender sh:~lI x~t~t be required to pay Borrower any interest or earnNgs on such
Miscellaneous Proceeds. If the restoration or rc'p;~i~ is not economically feasible or Lender's security would be lessened,
the Miscellaneous Proceeds shall be applied t~) ~h~: ,runs secured by this Security Instrument, whether or not then due, with
the excess, if any, paid to Borrower. Such Misccll:,~,~ous Proceeds shall be applied in the order provided for in Section 2.
In the event of a total taking, destructi,,~. ~,r loss in value of the Property, the Miscellaneous Proceeds shall be
applied to the sums secured by this Secnritv I~',trument, whether or not then due, with the excess, if any, paid to
Borrower.
In the event of a partial taking, destruct i, ,n. or loss in value of the Property in which the fair market value of the
Property ~ediately before the partial taking. ,l,~:trt~ction, or loss N value is equal to or greater than the amount of the
sums secured by this Security Instrument imm,.~li:~tely before the partial taking, dest~ction, or loss N value, uNess
Borrower and Lender otherwise agree in writi~j,., d~e sums secured by this Security Instrument shall be reduced by the
WYOMING -Single Family-Fannie Mae/Freddie Mac Ur~HFORM INSTRUMENT Form 3051 1/01
Bankers Systems, Inc., St. Cloud, MN Form MD-l-WY 8/21/200(~ (p~g~ 4 o~ 7p~¢.t) ~
,. 0382
amount of the Miscellaneous Proceeds multiplied by the following i~.,,Ii,m: (a) the total amount of the sums secured
immediately before the partial taking, destruction, or loss in value di,.~lctl by (b) the lair market value of the Property
immediately before the partial taking, destruction, or loss in value. Any I~1 ,~cc shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value t,I tl~c l'roperty in which the fair market value of the
Property immediately before the partial taking, destruction, or loss i~ ~,~luc is less than the amount of the sums secured
immediately before the partial taking, destruction, or loss in valuc, ~lcss Borrower and Lender otherwise agree in
writing, the Miscellaneous Proceeds shall be applied to the sums sect~,~,! by this Security Instrument whether or not the
sums are then due.
If the Property is abandoned by Borrower, or if, after notice I,. l.cnder to Borrower that the Opposing Party (as
defined in the next sentence) offers to make an award to settle a clam~ i~,r damages, Borrower fails to respond to Lender
within 30 days after the date the notice is given, Lender is authorized ~,~ collect and apply the Miscellaneous Proceeds
either to restoration or repair of the Property or to the sums secured bx tl~i~, Security InstrUment, whether or not then due.
"Opposing Party" means the third party that owes Borrower Miscellanc~)t~s Proceeds or the party against whom Borrower
has a right of action in regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
judgment, could result in forfeiture of the Property or other material i~q~airmcnt of Lender's interest in the Property or
rights under this Security Instrument. Borrower can cure such a dcl:~t~ll ~md, if acceleration has occurred, reinstate as
provided in Section 19, by causing the action or proceeding to be d~s~,fisscd with a ruling that, in Lender's judgment,
precludes forfeiture of the Property or other material impairment of l_c~dcr's interest in the Property or rights under this
Security Instrument. The proceeds of any award or claim for damages th:tl ~tl'c 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 {)~' ~q3:tir (~t' the Property shall be applied in the order
provided for in Section 2.
12. Borrower Not Released; Forbearance By Lender Not , 'Waiver. Extension of the time for payment or
modification of amortization of the sums secured by this Security h~.~t~'mncnt granted by Lender to Borrower or any
Successor in Interest of Borrower shall not operate to release the li~d3ililv t)f Borrower or any Successors in Interest of
Borrower. Lender shall not be required to commence proceedings :t,.!:titl*;t ~my Successor in Interest of Borrower or to
refuse to extend time for payment or otherwise modify amortization ,,1 thc sums secured by this Security Instrument by
reason of any demand made by the original Borrower or any Succc~s,,,s in Interest of Borrower. Any forbearance by
Lender in exercising any right or remedy including, without limit:t~,,~. Lender's acceptance of payments from third
persons, entities or Successors in Interest of Borrower or in amounts 1:.:,~ 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 .\~.-;igns Bound. Borrower covenants and agrees that
Borrower's obligations and liability shall be joint and several. H(,,,,.~.xcr, any Borrower who co-signs this Security
Instrument but does not execute the Note (a "co-signer"): (a) is co-sigxm~,., this Security Instrument only to mortgage, grant
and convey the co-signer's interest in the Property under the terms ~,r this Security Instrument; (b) is not personally
obligated to pay the sums secured by this Security Instrument; and (c) :t:,~c~cs that Lender and any other Borrower can agree
to extend, modify, forbear or make any accommodations with regard t,, ~hc terms of this Security Instrument or the Note
without the co-signer's consent.
Subject to the provisions of Section 18, any Successor in Interc,l ,,l' Borrower who assumes Borrower's obligations
under this Security Instrument in writing, and is approved by Lender. ~h'~dl obtain all of Borrower's rights and benefits
under this Security Instrument. Borrower shall not be released frt,~ llt~rrower's obligations and liability under this
Security Instrument unless Lender agrees to such release in writing? 'Ibc covenants and agreements of this Security
Instrument shall bind (except as provided in Section 20) and benefit the ,t~ ccSSOl'S and assigns of Lender.
14. Loan Charges. Lender may charge Borrower fees for ~.~-~'.iccs performed in connection with Borrower's
default, for the purpose of protecting Lender's interest in the Property :t~d rights under this Security Instrument, including,
but not limited to, attorneys' fees, property inspection and valuatit~t~ I~.cs. In regard to any other fees, the absence of
express authority in this Security Instrument to charge a specific fee t~, i:, rr~wcr shall not be construed as a prohibition on
the charging of such fee. Lender may not charge fees that are expect? 13rohibited by this Security Instrument or by
Applicable Law.
If the Loan is subject to a law which sets maximum loan ch:~...~..s, and that law is finally interpreted so that the
interest or other loan charges collected or to be collected in connectio~ ',. ith the Loan exceed the permitted limits, then: (a)
any such loan charge shall be reduced by the amount necessary to rcdt~cc thc charge to the permitted limit; and (b) any
sums already collected from Borrower which exceeded permitted limit~, '.,~.'ill bc refunded to Borrower. Lender may choose
to make this refund by reducing the principal owed under the Note or t,'. making a direct payment to Borrower. If a refund
reduces principal, the reduction will be treated as a partial prepaymc~t ,.,. ilhtmt any prepayment charge (whether or not a
prepayment charge is provided for under the Note). Borrower's accept:~t~'c el' any such refund made by direct payment to
Borrower will constitute a waiver of any right of action Borrower might h:t,., c arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in c,,~cctitm with this Security Instrument must be in
writing. Any notice to Borrower in connection with this Security I~,trtm~cnt shall be deemed to have been given to
Borrower when mailed by first class mail or when actually delivered t,, t{~rrc)wcr's notice address if sent by other means.
Notice to any one Borrower shall constitute notice to all Borrowers m~lcss Applicable Law expressly requires otherwise.
The notice address shall be the Property Address unless Borrower ha~ designated a substitute notice address by notice to
Lender. Borrower shall promptly notify Lender of Borrower's chatty.,,' ,,f address. If Lender specifies a procedure for
reporting Borrower's change of address, then Borrower shall only t~'i)~i't a change of address through that specified
procedure. There may be only one designated notice address under this l-,,:curity Instrument at any one time. Any notice to
Lender shall be given by delivering it or by mailing it by first class ~:til tt~ Lender's address stated herein unless Lender
has designated another address by notice to Borrower. Any notice in t~,~cction with this Security Instrument shall not be
deemed to have been given to Lender until actually received by Lender Il' any notice required by this Security Instrument
is also required under Applicable Law, the Applicable Law requirem~:t~t '..,,'ill satisfy the corresponding requirement under
this Security Instrument.
16. Governing Law; Severability; Rules of Construction. Thi, 5cct~rity Instrument shall be governed by federal
law and the law of the jurisdiction in which the Property is located..'.,/l rights and obligations contained in this Security
Instrument are subject to any requirements and limitations of Al)l,lic~tblc Law. Applicable Law might explicitly or
implicitly allow the parties to agree by contract or it might be .~il~.gtt. but such silence shall not be construed as a
prohibition against agreement by contract. In the event that any provis~,~ t~r clause of this Security Instrument or the Note
conflicts with Applicable Law, such conflict shall not affect other prt),. ~,i,)~s rd' this Security Instrument or the Note which
can be given effect without the conflicting provision.
As used in this Security Instrument: (a) words of the masculine .~ct~d~r shall mean and include corresponding neuter
words or words of the feminine gender; (b) words in the singular .,,h:tll nxczm and include the plural and vice versa; and
(c) the word "may" gives sole discretion without any obligation to take :t~,.
17. Borrower's Copy. Borrower shall be given one copy of th~~ :~.,,tc and of this Security Instrument.
18. Transfer of the Property or a Beneficial Interest in Bm'r,mcr. As used in this Section 18, "Interest in the
Property" means any legal or beneficial interest in the Property, inclt,di~g, but not limited to, those beneficial interests
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Bankers Systems, Inc., St. Cloud, MN Form MD-l-WY 8121/2000
(page5 of Tpages)~'~
Form 3051
transferred in:a bond for deed, contract for deed, i~,4allment sales contract or escrow agreement, the intent of which is the
transfer of title by Borrower at a future date to
If all or any part of the Property tlr :m'.~ l~crest in the Property is sold or transferred (or if Borrower is not a
natural person and a beneficial interest in Borr,,~,.~'r ~s sold or transferred) without Lender's prior written consent, Lender
may require immediate payment in full of all ~tm~ secured by this Security Instrument. However, this option shall not be
exercised by Lender if such exercise is prohibited I,', \pplicable Law.
If Lender exercises this option, Lender sh:tit t_'ive Borrower notice of acceleration. The notice shall provide a period
of not less than 30 days from the date the n(31ict' ~,: ziven in accordance with Section 15 within which Borrower must pay
all sums secured by this Security Instrument. II I!,,~-rower fails to pay these sums prior to the expiration of this period,
Lender may invoke any remedies permitted by lhi~ >i~',~'urity Instrument without further notice or demand on Borrower.
19. Borrower's Right to Reinstate Al'h,r \,'celeration. If Borrower meets certain conditions, Borrower shall have
the right to have enforcement of this Security l~,.~t~ment discontinued at any time prior to the earliest of: (a) five days
before sale of the Property pursuant to any p(~,c~' ,,t' sale contained in this Security Instrument; (b) such other period as
Applicable Law might specify for the terminali(m ,,l I3orrower's right to reinstate; or (c) entry of a judgment enforcing this
Security Instrument. Those conditions are Ih~t I~,,~t,)wer: (a) pays Lender all sums which then would be due under this
Security Instrument and the Note as if no acccl,':':~lion had occurred; (b) cures any default of any other covenants or
agreements; (c) pays all expenses incurred in cnl,,~, ins this Security Instrument, including, but not limited to, reasonable
attorneys' fees, property inspection and valu'~ti,,~ I'ees, and other fees incurred for the purpose of protecting Lender's
interest in the Property and rights under this Sc. crudity Instrument; and (d) takes such action as Lender may reasonably
require to assure that Lender's interest in the Prt,l,~:~ ly and rights under this Security Instrument, and Borrower's obligation
to pay the sums secured by this Security lnstrumt',]l, shall continue unchanged. Lender may require that Borrower pay such
reinstatement sums and expenses in one or m(~rc ~1' Ihe following forms, as selected by Lender: (a) cash; (b) money order;
(c) certified check, bank check, treasurer's check ~,[ cashier's check, provided any such check is drawn upon an institution
whose deposits are insured by a federal ~gcm:!.. instrumentality or entity; or (d) Electronic Funds Transfer. Upon
reinstatement by Borrower, this Security lnslrum~'~I and obligations secured hereby shall remain fully effective as if no
acceleration had occurred. However, this right t~, ~,'mstate shall not apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Serxit't'r; Notice of Grievance. The Note or a partial interest in the Note
(together with this Security Instrument) can I~c ,,,1(I one or more times without prior notice to Borrower. A sale might
result in a change in the entity (known as thc "1.,,:~ Servicer") that collects Periodic Payments due under the Note and this
Security Instrument and performs other rnortg~? l,,:m servicing obligations under the Note, this Security Instrument, and
Applicable Law. There also might be one or mr)~: ~.'h~nges of the Loan Servicer unrelated to a sale of the Note. If there is a
change of the Loan Servicer, Borrower will bc ?,.,'~ written notice of the change which will state the name. and address of
the new Loan Servicer, the address to which l':~2,~cnts should be made and any other information RESPA requires in
connection with a notice of transfer of servicing. Il lhe Note is sold and thereafter the Loan is serviced by a Loan Servicer
other than the purchaser of the Note, the morl?~c loan servicing obligations to Borrower will remain with the Loan
Servicer or be transferred to a successor I~',~ 5,:rvicer and are not assumed by the Note purchaser unless otherwise
provided by the Note purchaser.
Neither Borrower nor Lender may c(mm~'~ce, join, or be joined to any judicial action (as either an individual
litigant or the member of a class) that arises I'~,,~ lhe other party's actions pursuant to this Security Instrument or that
alleges that the other party has breached any im),.'i'-i{m of, or any duty owed by reason of, this Security Instrument, until
such Borrower or Lender has notified the t)lhcr l~:~rty (with such notice given in compliance with the requirements of
Section 15) of such alleged breach and affi)rdcd lh~.,,lher party hereto a reasonable period after the giving of such notice to
take corrective action. If Applicable Law pr(~vid~'~ :~ time period which must elapse before certain action can be taken, that
time period will be deemed to be reasonable l'(~r i,~ poses of this paragraph. The notice of acceleration and opportunity to
cure given to Borrower pursuant to Section 22 :~..I the notice of acceleration given to Borrower pursuant to Section 18
shall be deemed to satisfy the notice and oppt~rl~nil !.1, ~ take corrective action provisions of this Section 20.
21. Hazardous Substances. As used in ~hi~ ~cction 21: (a) "Hazardous Substances" are those substances defined as
toxic or hazardous substances, pollutants, (ir \¥:~les by Environmental Law and the following substances: gasoline,
kerosene, other flammable or toxic petroleum l,~,,ducts, toxic pesticides and herbicides, volatile solvents, materials
containing asbestos or formaldehyde, and radit,:~c'i~'.e materials; (b) "Environmental Law" means federal laws and laws of
the jurisdiction where the Property is located th:,l ~,:late to health, safety or environmental protection; (c) "Environmental
Cleanup" includes any response action, remcd i:d :t,.lion, or removal action, as defined in Environmental Law; and (d) an
"Environmental Condition" means a conditi(m rl~:,t can cause, contribute to, or otherwise trigger an Environmental
Cleanup.
Borrower shall not cause or permit thc p~c:..~.'nce, use, disposal, storage, or release of any Hazardous Substances, or
threaten to release any Hazardous Substances. t,t~,,~' in the Property. Borrower shall not do, nor allow anyone else to do,
anything affecting the Property (a) that is in vi,,l:,lion of any Environmental Law, (b) which creates an Environmental
Condition, or (c) which, due to the presence, ust:. ,,r release of a Hazardous Substance, creates a condition that adversely
affects the value of the Property. The prcccdm~ two sentences shall not apply to the presence, use, or storage on the
Property of small quantities of Hazardous Subs~:~:cs that are generally recognized to be appropriate to normal residential
uses and to maintenance of the Property (inchxdin:._'. i,m not limited to, hazardous substances in consumer products).
Borrower shall promptly give Lender ~tr~I,'~ notice of (a) any investigation, claim, demand, lawsuit or other action
by any governmental or regulatory agency <,r l,~i,.'ate party involving the Property and any Hazardous Substance or
Environmental Law of which Borrower has aclu:~l l:nowledge, (b) any Environmental Condition, including but not limited
to, any spilling, leaking, discharge, release ~r Ih~,.:~t of release of any Hazardous Substance, and (c) any condition caused
by the presence, use or release of a Hazardtms 5tth,tance which adversely affects the value of the Property. If Borrower
learns, or is notified by any governmental ~)r ~,'5ulatory authority, or any private party, that any removal or other
remediation of any Hazardous Substance afl'ecti~?. Ih e Property is necessary, Borrower shall promptly take all necessary
remedial actions in accordance with Enviromnc~:d Law. Nothing herein shall create any obligation on Lender for an
Environmental Cleanup.
NON-UNIFORM COVENANTS. Bt~rrt,','.,'l ',md Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender slmll ;Sve notice to Borrower prior to acceleration following Borrower's
breach of any covenant or agreement in this :~,'~:urity Instrument (but not prior to acceleration under Section 18
unless Applicable Law provides otherwise). '1 h,.. notice shall specify: (a) the default; (b) the action required to cure
the default; (c) a date, not less than 30 days l'r~m~ Ihe date the notice is given to Borrower, by which the default must
be cured; and (d) that failure to cure ibc d~'!",mlt on or before the date specified in the notice may result in
acceleration of the sums secured by this St.t:l~ritv Instrument and sale of the Property. The notice shall further
inform Borrower of the right to reinstate :~lt,.,' acceleration and the right to bring a court action to assert the
non-existence of a default or any other deft, ns(. ,,I' Borrower to acceleration and sale. If the default is not cured on or
before the date specified in the notice, Len,h.t :~t its option may require immediate payment in full of all sums
secured by this Security Instrument with.ul h~rther demand and may invoke the power of sale and any other
remedies permitted by Applicable Law. Ix, mh,~- shall be entitled to collect all expenses incurred in pursuing the
remedies provided in this Section 22, inclmtimz, but not limited to, reasonable attorneys' fees and costs of title
evidence.
If Lender invokes the power of sale, l.,,mter shall give notice of intent to foreclose to Borrower and to the
person in possession of the Property, if dil't'ert'nl, in accordance with Applicable Law. Lender shall give notice of the
WYOMING -Single Family-Fannie Mae/Freddie Mac ur,.!IFORM INSTRUMENT Form 3051 1/01
Bankers Systems, Inc., St. Cloud, MN Form MD-l-WY 8/21/200o (page 6 of 7pagex) __
sale to Borrower in the m~nner provided in Section 1~. Lender q~a[[ publish the notice of sale, and t~e Property
shall be sold in the manner prescribed by Applicable Law. Lender ,,r its designee may purchase the Property at any
sale. The proceeds of the sale shall be applied in the following (,nh.r: (a) to all expenses of the sale, including, but
not limited to, reasonable attorneys' fees; (b) to all sums secured I,~ 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 Sc~.~i~;, Instrument, Lender shall release this Security
Instrument. Borrower shall pay any recordation costs. Lender ma> ch~,'ec Borrower a fee for releasing this Security
Instrurfient, but only if the fee is paid to a third party for services rcmlcrcd and the charging of the fee is permitted under
Applicable Law.
24. Waivers. Borrower releases and waives all rights undc~ ,md by virtue of the homestead exemption laws of
Wyoming.
BY SIGNING BELOW, Borrower accepts and agrees to thc tcrills and covenants contained in this Security
Instrument and in any Rider executed by Borrower and recorded with it
ROaR AND GAYLA D, t'0 r'rER, TRU~ POTTER FAMILY REVOCABLE TRUST
............... ...~_.-~ ...................... ,. f :~.."~ .........................(Seal)
R Ofl.~ffTTER, TR~TEE . -Boriowe;
~~& ....... . :. '~ ..... ~~~'..~ (Seal)
· AYL~TTER, TRUSTEE /-Borrower
DATED
[Space Below This Line For Acknc~wledgment]
STATE OF WYOMING ................................................................... County ss:
The foregoing instrument was acknowledged before me this "--ff ~ -g> /
by ~ ~ ~ :~z'4A- ~'/ ~"...'~. & /)- ~i (date)
(person acknowled ~ J~g )
My commission expires:
Notary Public
WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMEN7
Bankers Systems, Inc., St. Cloud, MN Form MD-l-WY 8/21/2000
Form 3051
1/01 (page 7of7pages)
PAYMENT RIDER
THIS PAYMENT RIDER is made this ..2.3..R.D. ............ ,h,y of ..D.E.C..E..M.B..E.R.,..2.0.0..4 ................ and is
incorporated into and shall be deemed to amend ar,d supplement the Mortgage, Deed of
Trust, or Security Deed (the "Security nstrume~t"l of the same date given by the
undersigned ("the Borrower") to secure Borrower's No~ to ....T.H..E..B~.~.K..0..F..S.T.~..R..V..~.L.L.E.Y.,.3..8.4 ..........
W..AS.H.I.N.G.T0.N S.T. REET, P0 BOX. 8.0.07,.AFT0.N..W..Y...8.3.1.!.0. .....................................................................
.......................................................................................................... ("the Lender") of
the same date and covering the property described in tt~,: E~ecurity Instrument and located at:
. ' WY...8.3..! !.0. ................................................................................
[Property Addres.~:l
ADDITIONAL COVENANTS. In addition to the c~wenants and agreements made in the
Security Instrument, Borrower and Lender further covei,;,~t and agree as follows:
A. PERIODIC PAYMENTS OF PRINCIPAL AND INTEREST
The Note provides for periodic payments of princip;~l ;~nd interest as follows:
3. PAYMENTS
(A) Periodic Payments
I will pay principal and interest by making periodic t~;~'frnents when scheduled:
[] I will make .......................... payments of $ .......................................................
each on the ............................................................................................................
of each .................................................................................................................
.......................................... beginning on ..............................................................
[] I will make payments as follows:
11 MONTHLY PAYMENTS OF $713.21 BEGINNING 01-31-2005.
[] In addition to the payments described above, I will pay a "Balloon Payment" of
$ .8.!.,.6.3.7.:0..6 ..................... on .!.2.-.3.]:.2.0.0..5 ............................................ The Note Holder
will deliver or mail to me notice prior to maturity ~t~tt the Balloon Payment is due. This
notice will state the Balloon Payment amount and tl~,: date that it is due.
(B) Maturity Date and Place of Payments
I will make these payments as scheduled until I h~v~: paid all of the principal and interest
and any other charges described below that I may owe under this Note. My periodic
payments will be applied to interest before Principal. II, on .!.2:.3.]:.2.0.0..5 ..................................
I still owe amounts under this Note, I will pay those ,~nounts in full on that date, which is
called the "Maturity Date."
I will make my periodic payments at ...3..8.4..~..A.S..H.~.N.~`).I!!`~.~.R.E.E..T.~.A..F.T..~'N.~..~..Y..8.3.!.1.~. ......................
........................................................ or at a differc~I t~lace if required by the Note Holder.
MULTIPURPOSE FIXED RATE PAYMENT RIDER (MULTIS-i'ATE)
Bankers Systems, Inc., St. Cloud, MN Form MPFR-PR C; 15.,'2OO4
ref: MPFR-MN ('~,~//e I of 2 pages)
[] B. FUNDS FOR TAXES AND INSURANCE
Uniform Covenant 3 of the Security Instrument is w~ived by Lender.
BY SIGNING BELOW, Borrower accepts and agrees to tl~,~ terms and covenants contained
in this Payment Rider. ~.,~ ?.~;~-~
T. P~O._TTE ti ' ,) _-~ -Borrower
..(~-, ............ i i'::'~ ............. ~..~..... {Sea,
BA-YLAJI~POT If fi -Borrower
Bankers Systems, Inc., St. Cloud, MN Form MPFR-PR 6/1!-~2004
(page 2 of 2 pages)
DEC-20-2804 11:25 SOUTHWEST TITLE CO
307 877 g602
P. 06
ALTA COMM-iT~NT - 1982 - WY
0387
Commitment No.: FA 12785 M
S C1KEDULE C
Thc land referred to in this commkmem is situated in the State of Wyoming, County of Lincoln, and is described as
follows: '
Part of Lot 2 of Block 13 of the Ali:on Townsita, Lincoln County,
Wyoming, more particularly described a:~ follows:
BEGINNIMG 6 2/3 rods South of the Nor~:i~west Corner of said Lot 2 and
running thence East 20 rods;
thence South 6'2/3 rods/
thence West 20 rods;
thence North 6 2/3 rods to the POINT 0i. BEGIMNING.
LESS AND EXCEPT the land contained in :i'~<rrmnty Deed recorded November
25, 1980 in Book 170PR on page 523 of ti~.~ records of the Lincoln County
Clerk.
11/91