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HomeMy WebLinkAbout908419WED 1~:54 PM WELLS Ft~RGO HOME MORTGi~G 50287 (04) Return To: WELLS FARGO HOM]i MORTGAGE 3~01 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 FRX NO, 8778038783 00328 Prepared By: W~LL8 FAltO'O BANK, N.A. 1919 DOUGLAS,, OHAHA, 68101O000 [Space Above Thb Lh~e For R~ordlnll Data] MORTGAGE DEFINITIONS RECEIVED 5/16/2005 at 11:02 AM RECEIVING # 908419 BOOK: 585 PAGE: 328 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Word~ used in multiple section~ of this document are defined below and other words are daf'mad 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 daredHAY :1.:1., 2005 together whh all Riders ta this document. (B) "l];orrower" is R. ~ORDON WARING AND VALIER R WARIN~, HUSBAND AND WIFE Borrower is the mortgagor under this Security lnsu'umen[. {C) "Lender" is NF. Lr.S FAR¢O aAmC, N.A. Lender is a NATIONAL ASSOCIATION organized and existing under I. he laws of THE UNITED STAT~S 0051.q9215~ WYOMIJNG-Single Family-Fannie Mae/Ft-ddia Mac UNIFORM INSTRUMENT Form 3051 1101 i'-i,? Y-11-2005 WED 12:54 PM WELLS F RGO HOME MORTG G NO, 8778038763 , 00329 P, 16 Lender's address is ~.:.0. l~ox 10304, DI~-~ MOI!TES, IA 503060'~04 Lender is the mortgagee under ~his Security InsLmm. ent. (D) "Note" means the promissory note signed by Bcrrower and datedP-P, lt :1.1, 2005 The Note states that Borrower owes ~nder Srrx~' ~'~o ?ao~s,~m ~'z'~ ma,taReD ~-~ 00/100 Dollars (U.& $ ** ~ ~* ~ 2, S 0 0. o o ) plus in~rasL Bo~ower h~ promised ~o pay ~is deb~ in regul~ Pcfiodi~ Pa~n~s ~d ~ pay the dcb~ ~ ~1 nm la~r ~a ~ o~, 2o~ ~) '~ope~y" mc~s ~ propc~ chat is dcsc~bed bolow under ~h~ h~adin~ "Tr~sfar of Rights in iht Property." (F) "Loan" mc~s ~he debt cvid~n~d by thc Nm~. plus int~resk any pr~a~cnt cbargos and late ch~ges duc under ~h~ Noie, ~d al s, ma du~ ~d~r ~is S~eurity I~nt, plus in~eresL (G) 'l~d~s' ~ans ~1 Ride~ m this Security Ins~mcm ~ha arc exc~ut~ by Bo~owcr. ~ follow~g Riders are ~o b~ exocmed by ~o~owor [ehack box as applie~la]: ~ Adjus~blc ~te Rider ~ Condo~ ~der ~ Second Ho~ ~der ' ~ Balloon Rider ~ Planned Unic Dcvdopmcnt Rider ~ 1-4 Family Rider ~ VA Rider ~ Biwce~y Paym~n~ Rider ~ O~r(s) [speei~] ~anufactured Home Rider (H) "Applicable Law" means all controlling applicable federal, sta~e and local statutes, regulations, ordinances and administrative rules and orders (chat have the effect of law) as well as all applicable final, non-appealable judieial opinions. (I) "Community Association Dues, Fees, and Assessments" moans all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) !'Electronic Funds Transfer" means any transfer of funds, other chon a transaction originated by check, dr,'rft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tap~ so as to order, instruct, or atithoriT, e a financial institution re debit or er, edit an accent. Such term includes, but is nor limited to, point-of-sale transfers, automated teller machina transactions, transfers initiated by ~elephone, wire transfers, and automated clearinghouse tr,'msfers. (K) "Escrow Items" means chose items that ara d,.',scrib~d in S~ction 3. (L) "Miscellaneous Proceeds" m~ans any compensation, settlement, award of damages, or proceeds paid by ay third parry (other than insurance proceeds paid under the coverages described in S~tion 5) for: (i) damage to, or destruction of, ~he Proporty; (ii) condemnation or other taldng of all or any parr of the Property; (iii) conveyance in lieu of condelnuadon; or (iv) misrepresentadom et~, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" me,ms insurance protecting Lender against the nonpayment of, or dal:ault on, (N) "Pea'iodie Payment" means che regularly scheduled amount due for (i) principal and inmrast under the Note, plus (ii) any amounts under Section ,3 ,of this S~urity Instrument. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as ~hey might be amended from time to tim~, or any additional or successor legislarial~ or regulation rkat governs che same subject ma£ter. As used in rl~i~ Security Imtrument, "RESPA ~ refers to all requirements aud restrictions chat are imposed in regard to a "federally related mortgage loan" even if the Loan does noI qualify as a "federally related loan" under RESPA. hhY-11-2005 12:54 PM I ELLS FARGO HOME MORTG/tG FAX NO, 8778038763 -00330 P, 17 (P) "Successor in Interest of Borrower" means any party th.r has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note anti/or this Security Instrument. TPO,NSFER OF RIGHTS IN THE PROPERTY Tiffs Security Instrument secures to Lender: (i) tho repayme, nt of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's corena_nra and agreements under this Seenrity Irmtrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the COUNTY of TgTON : [Type o1' g..~ordln~l luri.sdi=rion] [Nam~ of R~¢ordirtg Jurisdiction] S~E ATTACHED LEOAL D~.qeRIPTION 1995 ~UERDON HeM]i, MODEL #6S24, BERT_AL #GD~OID44969972AJ~ HUD TA~ #'S IDA 16OD50 ~ IDA 160051 TAX STAT~MIFRTS S~OULD BE SENT TO: WELLS FAROO ~OM~ ~ORTGAGE, P.O. BOX 103t34~ DEB MOI1TES, IA ~0306030% Pared ID Number: 77805 t/S HWY 819 SMOOT ("Property Address"): which currently has the address of [City] , Wyoming 83125 [zip Code] TOGETHER WITH all the imProvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of tim property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security lnm'ument as the "Property." BORROWER COVENANTS that Borrower is law'f~lly seised of the estate hereby conveyed and has the right to mortgage, grant and eonv~y the Property ,'md that the Property is unencumbered, except for enemnbrances of record. Borrower warrants and will defend generally the title to the Property against ,'all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property, UNIFORM COVENANTS. Borrower and Lender coven,mt and agree as follows: 1. Payment of Principal, Interest, Escrow Item.q, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note ,'md any prepayment charges and late charges due under file Note. Borrower shall also pay funds for Escrow Items pursuant re Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender aS~rthe Note or this ii! i¥-11-2005 WED 12:5'4. WELLS FEIRGO HO iE iOR?GEIG FEI){ NO, 877809876;3 P, 18 Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the..Note ,'md this Security Instrument be made in on0 or more of the ~bllowing forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's cheek or c~hie.r's check, provided any such check is drawn upon an institution whose deposits are insured by a feder~.l 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 Lender in accordance with the notice provision~ in Seation 15. Lender may return any payment or partial payment if the paymem or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insu'ffieient to bring the Loan eurrerlt, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paying;uts in the 'future, but Lender is not obligated to apply such payments at ~e time such paym;'nts are accepted. If each Periodic Payrt~nt is applied as of its scheduled du~ date, then Lender need not pay intere~tt on unapplied funds. Lender may hold such unapplied funds until Borrower 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. I'f not applied earlier, such funds will be applied to the outstanding principal balance under the No~e immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from ma~ing payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrm'nent. 2:. Application of Payments or Prnceeds. Exert as otherwise described in this Section 2, all payme:nts acc~ted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) priacipal due under the Note; (c} amounts due under Section 3. Such payments shall bo 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 t~ reduce the principal balance of the Note. If Lender receives a payment from Borrower for a deliaqueat Periodic Payment which includes a sufficient amount to pay any late ~arge due, the payment may he applied to the delinquent paymem and the lat~ charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in 'full. To the ~xtent that any excoss exists after the payment is applied to the full payment of one or more Periodic 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 Notu. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or chang~ iht; amount, et: thc Periodic Payments. 3. Fund.~ for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid ia full, a sum (the "Funds") to provide i'or payment of amounts due for: (a) taxes and assessments and other itcnns which can attain priority over this Security Instrument as a lien or encumbrance on rite Property; (h) leasehold payments or ground rents on the Property, if any; (c) premku'ns for any and all insurance required by Lender under Section 5: and (d) Mortgage Insurance premiuras, if any, or any stuns payable hy Borrower to Lender in lieu of th~ payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These itenxs are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Commulfity Association Dues, Fees, and Assessments, il: any, be escrowed by Borrower, and such dues, fees and assessraents shalt be an Escrow Item. Borrower shall promptly furaish to Lender all notices of amounts to be paid under this Section. Borrower shall pay 'Lender the Funds fbr Escrow Items unless Lender waives Borrower's obligation to pay the 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 the event of such waiver, Borrower shall pay directly, when m~hle, the amounts ~]I~-eIWY) ,ooa5! Paga4af 16 7~,~/ Form 3051 1/01 .. q-'.,: i![-n,'-ll-2OOE; 1'2:E;4 PN I ELL$ F RQO HOPlE HORTG G FRX NO. 8778038763 P, la due fi~r any Escrow Items for which paymem of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a c:ov~mant and agreement cont,'dned in this Security lnsmmaent, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated Io pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amoum due for an Escrow Rem, Lender may exercise its rights under Section 9 and pay such anmunt and Borrower shall then be obligated under Section 9 m repay m Lender any such amottnt. Lender may revoke the waiver as to ,any or ali Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such imlounts, that are then required under this Section 3. ;Lender may, at any time, collect and hold Funds in an amount (a) suf'fieient to permit Lender to apply file Funds at the time specified under RESPA, and (b) not to exceed tile maximum amount a lender eau require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of futur~ Escrow Items or otherwise in accordance with Applicable Law. The Funds slmll be held in ,'tn institution whose deposits are insured by a federal agency, instmmemaliry, or emity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no latar than the time specified under RESPA. L~nder shill not charge Borrower for ho]ding and applying the Funds, ammilly anily:-,ing the escrow ac~oum, or verifying the Escrow Items, unless Lender pays Borrower interest on thc Fund:; and Applicable Law perinits Lender to make such a charge. 'Unless an agreement is made in writing or Applicable Law requires in,rest to be paid on the Fmlds, Lender shall not be required to pay Borrower ~ny interest or earnings on file Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on tho Funds. Lender shall give to Borrower, without charge, an annual accounting of the Fund.': 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 detined under RESPA, Lender sh,'dl notify Borrower aS required by RESPA, and Borrower shall pay to Lend{:r the amount ne~ssary to mille up fl~e shortage in accordance with RESPA, but in no more flxau 12 monthly paymems. If flmre is a deficiency of Funds held in escrow, as defined under RESPA, Lender ah'all notify Borrower as required by RESPA, and Borrower shall pay to Lender the mnount necessary to make up tht: de'fici~ney in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly re'fund to Bo:crower any Funds held by Lender. ,I. Charges; Liens. Borrower shall pay all taxe~, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Lqstrumem, leasehold payments or ground rems on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the oa~ent tl~at these items are Escrow Items, Borrower shall pay them in the m.,mer provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrtmaent unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good l'aith by, or defends against enforcement of the lien in. legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are ee,neluded; or (e) secures from the holder of the lien an agreement satisfactory to Lender subordinating tile li~:n to this Set:urity Instrument. If Lender determines that any pm of the Property is subject to a lien which eon attain priority over this Security Instrument. Lender may give Borrower a notice identifying the WED t2:65 PM WELLS FflRGO HOME MORTGfiG NO, 8778038763 P, 20 lien. Within I0 days of the date on which that notice is given, Borrower shall satis'l~,, the lien or rake one or morn of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-tim~ charge for a real estate tax verification and/or reporting service used by 12nfler in connection with this Loan. S, Propertl~ Insurance. Borrower shall keep the h~provements now existing or hereafter erected on the ?ropeny ittsured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insur~c~ shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. Whai Lender requires pursuant to the preceding semences can change during the I~rm of the Loan. The h~surance carrier providing the insurance shall be chosen by Borrower subject to Lender's fight to disapprove Borrower's choice, which right shall not be exercised unre~onably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-drr~ charge for flood zone determination, certification and traelcing services; or (b) a one-tinge charge for flood zonu determination and certification services and subsequent charges each time remappings or similar changes occur which reasm~ably might at'feet such determination or certification. Borrower shall also be responsible for fl~e payr, nent of any fees imposed by the Federal Emerge'ney Management Agency in connection with the review of any flood zone 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 expense. Lender is under no obligation to purchase any particular type or amount of coverage. Th,'-refore, such coverage shall cover Lender, hut might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greaxer or lesser coverage than was previously in effect. Borrower acknowl.edge.~ that the cost of the insurance coverage so obtained might signifieandy exceed the cost of insurance that Borrower could have obtained. Any amounts disbursc~ by Lender under this Section 5 shall become additional debt of Borrower secured by this Security h~strument. These mnounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon nodes from Lender to Borrower requesting payment. All insurance policies required by Lender anti renewals ct: such policies shall he subject to Len~r's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certi:fieat~s. If Lender requires, Borrower shall promptly give to Lender all receipts o1: paid premiums ,and renewal notices. If Borrower obtains any roma of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall nam~ Lender as mortgagee and/or as an additional loss payt~e. In the event of loss, Borrower slmll give prompt notice to the insuratme 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, whetlaer or not the underlying insurance was required by Lender, shall be al~plied 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 .,lush insurance 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 h~spection shall be undertaken promptly. Lender may disburse proceeds l'or the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless m~ agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnhtgs on such proceeds. Fees for public adjusters, or other third parties, retained by Borrow~sr shall not be paid out of' the insurance proceeds and shall be th~ sole obligation of Borrower. If the restoration or repair is not economically legible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with (~)~j-fllW¥) ICAO6, Pa0e I~ or 16 ~_.,~ Form3051 1/01 i'?Z,'-il-200~ 14ED t2:~ PI~ 14ELLS FARGO HONE NORTGAG FAX NO, 8778038763 P, 21 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, n~gotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the clem. The 30-day peri,~d will begin when tile notice is given. In either event, or if Lender acquires the Property under Section 22 or other, vise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the No~ or this Security Instrument, and (b) ~ny other of Borrower's rights (o~er than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insof~ as such rights are applicable to the coverage of the Property. L~nder may use the insurance 'proceeds eifl~er to repair or re,tore the Property or to pay ~mounts unpaid under the Note or this Security Instrument, whether or not filch flue. 6. Occupancy, Borrower ah. all occupy, establish, and Use l:he Property as Borrower's principal residence wi~in 60 days ~er the execution of this Security Insrrumem and shall continue to occupy the Prop~rty as Borrower's principal residence for at least one year after the date of oecupanw, unless L~nder otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating eire~tmstanees exist which are beyond Borrower's control. ?, Preservation, Maintenance and Protection or the Property; Inspections. Borrower shall not deSm3y, dmmge or impair the Property, ~llow the Property to deteriorate or commit waste on the Prop~:rty. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in vflue due to its condition. Unless it is detemained pursuant to Section 5 tlmt repair or restoration i~ not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further demrioration or damage. If insurance or condenmafion proceeds are paid in connection with damage to, or the talcing of, file Property, Borrower shall be respomible for rep,.ring or restoring the Property only if Lender has released proceeds tbr such purposes. Lender may disburse, proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not suflS~ient to r~Imir or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such :repair or restoration. Lender or its agem may madce re~onable entries upon and inspections of the Property. If it has reasonabl~ cause, Lender may inspec~ the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. .§, Borrower'~ Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any p-'-rsons or entities acting at file direction of Borrower or with Borrower's lmnwledge or consent gaw materially false, misleading, or inaccurate information or statements to Lender (or tailed, to provide Lender with material informoxion) in connection with the Loan. Material repre:;entations include, bur are not limited to, representations concerning Borrower's occupancy of thc Prope..rty as Borrower's principal residence. 9. Protection of Lender's Intm-ost in the Property and Rights Under this Security Instrument. If (a) Borrower fails to p~rform the covenants and agreements contained in tiffs Security Insm.unent, (b) there is a h:gal proceeding that might significantly ~fffeet Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in banlcruptcy, probate, for condemnation or forfeiture, for enfon:ement of a lien which may attain priority over flxis Security Instrument or to enforce laws or regulatiom), or (c) Borrow~r has abandoned the Property, then Lender may do and pay for whatever is reasmmble or appropriate to protect Lender's in~erest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of die Property, and securing and/or r,'.'pairing the Property. Lender's actions can include, but ~re 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 NED 12:55 PPI { ELLS FfiRGO HONE NORTC}fiC, FdX NO, 8778038763 P, 22 0 0 3 ,"'i 5 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its sa-.ured position ia a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change lock~, replace or board up doors ,and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, .and have utilities mined on or alT. Although Lender may take action under this Section 9, Lender does not have to do so and is not under ;my duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Sa:tion 9. Any amounts disbursed by Lender under this Section 9 shill become additional debt of Borrower secure, d by this Security Instrument. These mnotmts shall bear interest si the Note ram from the date of disbursement and shill be payable, with such interest, upon notice fi'om Lender to Borrower requesting paya-~mt. If this Security Instrument is on a leasehold, Borrower shill comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title .~hill not merge unless Lender agrees to the merger in writing. lt0. Mortgage insurance, It: Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage requh'ed by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to mille separately designated paymunts toward the premiums for Mortgage Insurance, Borrower shall pay the premiums r~quired to obtain coverage sub.~tamially equivalent to the Mortgage I~urance previously ia effect, at a cost sabstantiilly equiwdem to the cost to Borrower of the Mortgage Insurance previously in effect, from an alteruaYe mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not avallaNe, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the imurance coverage ceded to be in effect. Lender will accept, u.,~e and retain these payments aa a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwifltstanding the fact that the Loan is ultimately paid in M1, and Lender shill not be requir.~d £0 pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage-Iasurance coverage (in the amount and for the period that Lender requires) provid~ed by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender requked Mortgage Insurance as a condition of making/.he Loan and Borrower wa~ required to make separately designated payments toward the premiums 'for Mortgage Insurance, Borrower shall pay the premiums required to milntz~in Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirt.~ment for Mortgage Insurance ends ia accordance with say written agreement be~we~ Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this $~ction 10 a.ff~ts Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may iacur if Borrower does not repay the Loan aa agreed. Borrower is not a patty to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in three from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losac.e. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or pm-ties) to these {tgreements. These agreements may require the mortgage insurer to make payments using any source of ronda that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). A.s a r~sult of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage htsurance, in exchange l:or sharing or modifying the moagage insurer's flak, or reducing losses. If such agreement provid,~s that an ,~liate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (n) Any such agreement~ will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other tertns of the Loan. Such agreements will not increase the amount Borrower will owe ror Mortgage Insurance, and they win not ~ntitla Bo~refund. Initials, 1-2006 WED 12:65 PH WELLS Ft RGO HOHE IIOR?GhG FaX NO, 8778038763 P, 23 (b,) Any meh agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1938 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortllage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund or any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 1.1. A,~gnment of Mi~cellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and sludl be p,'dd to Lender. It' tl~e Property is damaged, such Miscellaneous Proceeds shall be applied to r~storation or repair et: the Propergt, 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 Miscellaneous Proceeds until lL~nder 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 tar the rep,firs and restoration in a single disbursement or in a aeries el' progress payments as the wort is completed. Unless an agreement is made in writing or Applicable Law requires interest m be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or em'nings on such Miscellaneous Proceeds. If the restoration or repair is not economic'ally feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be ~pplied to the sums secured by this Security Iusmanent, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided far in Section 2. In the event of a total taking, destruction, or loss in value of tho Property, the Miscellaneous Proce,:ds shall be applied to the sums s~cured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial raking, destruction, or loss in value el: the Properzy in which the fair market value of the Property immediately before the partial taking, desu'uction, or loss in value is equal to or greater than the amount of the roms secured by this Security Instrument immediately be'lore the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amoum of the Miscellaneous Proceeds multiplied by [he i:ollowing traction: (a) the total mount of the sums secured immediately before the partia~ taking, destruction, or loss in value ~livided by (b) the hit market value of the Property immediately before ;he panini taking, destruction, or loss in value. Any balance shall be p,'dd to Borrower. In the event of a partial taking, desn'uction, or loss in value of the Property in which the l"air market value of the Property intmediately before thc partial taking, d~struction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds ~all be applied to tl~e sums secure..d by this Security Instrument whether or not the sums are then due. If the Proper~y is abandoned by Borrower, or if, after notice by Lender to Borrower that the Oppo::ing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borro'~,'er fails to respond to Lender within 30 days a'l:~r the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair or the Property ar to the sums s~;cured by [his Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or tho party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in de'l:ault if any action or proceeding, whether civil or crimh~al, is begun that, in Lender's judgment, could result hz forfeiture of the Property er other material impairment of Lender's interest in the Property or rights under this Security Instrmnent. Borrower can cure such a d~'l'ault and, il~ acceleration has occurred, reinstate as provided in Section 19, by causing tho action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes l'orfeimre of the Properzy or other material impairment of Lender's interest in the Property or rights under this Security Insu'um~m. The proceeds of any mvard or claim for damages'that are attributable to the impairment o'1' Lender'S interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds [hat are not applied to r~storation or repair of the Property shall be applied in the order provided for in Section 2. ' , -11-2008 WED 12: 8 PM WELLS FRRGO HOME MORTGRG FRX NO, 8778038763 P, 24 0033? 12. Borrower Not Released; Forbearance By Lender Not a WaiVer. Extension of the tine for pay~nent or modiflcadoa of amortizatioa of ~e sums secured by this Security Instrument granted by Lender to Borrower or ,'my Successor ia Interest of Borrower shall not operate to release the liability of Borrower or m~y Successors in 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 amortization of the sums secured by this Securky Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender ia 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 duo, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and A~igns Bound, Borrower covenants and agrees that Borrower's obligatio~ and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-sign~r's interest in the Property under the terms of this Security/nstrmnent; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (e) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodafio~ with regard to the terms of this Security Instrument or the Note without the co-sign~r's consent. Subject to the provisions of Section 18, ,'my Successor in Interest of Borrower who assumes Borr, awer's obligatioa~ under this Seo. uri~y insmament in writing, and is approved by Lender, shall obtain all or Borrower's rights and benefits under this Security Instrument. Borrower shall not be released fi'om Borr,~wer'.~ obligations and liability under this Security Instrumem unless Lender agrees to such release in writiag. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges, Lender may charge Borrower fees for services performed La com~eetion with Borrower's default, for the purpose of protecting Lender's int~r~s,t in the Property and rights under tkis Semxd~y Instrument, including, but not limited m, attorneys' fees, property iaspeetion and valuation tees. In regard to any other fees, the absence al: express authority in this Security Instrument to charge a specific 'fee m Borrower shall not be construed as a prohibitioa on the charging of such fee. Lender may not charge fees ~:hat are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that I~e interest or other loan charges collected or to be collected in counecfien with the Loan exceed the pertained lhuit% then: (a) any such loan charge shall be reduced by the anmunt necessary to redaee the charge to th~ permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limit,,~' will be refunded to Borrower. Lender may choose to n:~e this refund by redueLag the principal owed. under the Note or by n~dciag a direct payment to Borrower. Ii" a refund reduces principal, the reduction will be treated as a partial prepaymem withom any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment tn Borrower will constitute a waiver of any right of action Borrower might have arising out of su,:h overcharge. 15, Notices. All notices given by Borrower or Lender in connection with' this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other mean.,. Notice to any one Borrower shall constitute notice to ail Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unles~ 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 procedure for reporting Borrower's change of address, then Borrower shall only report a change o'f 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 firs~ class mail to Lender's address stated, herein unless Lender has designated another address by n~tice to Borrower. Any notice in eo~meetion with this Security Instrument shall not be deemed to have been given to Lander until actually received by Lender. If any notice requh'ed hy this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding re~~ Security Instrument. Inklal.s~, '" ...... · z.....;:::,:,:,:,:a, '' :~''' ~ ?!: Y-11-2005 WED 12:56 PH kIELLS F ,ROO HOHE HORTC, ,G FRX NO, 8778038763 ?, 25 16. Governing Law; Severability; Rules of Construction, This Security Instrument shall be governed by federal law and the law o't' the jurisdiction in which the Property is located. All rights and oblig$fions contained in this Security Imtrumem 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 prohibkion against agreement by contract. In the event that .qy provision or clanse of tiffs Security Insn'ument or thc Note conflicts with Applicable Law, such conltict shall not al:feet other provisions of this Security Instrument or the Note which can be given effect without file conflicting provision. As used in this Security Instrument: (a) words of the m~culine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in tile singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take a~y action. 1.7. Borrower's Copy. Borrower shall be given one copy of the Note mid of this Security Instrument. l.& Transfer or the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Inter,.~st in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, file intent of which is file transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest hx the Property is sold or trar~ferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require hmnediaze payment ht fi~ll of all sum~ 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 riffs option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days 'from the date the notice is given in accordance with Section 15 within which Borrower must pay ,all sums secured by this Security lastrnnmnt. If Borrower fails to pay these sums prior m the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument 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 en'forccment 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 or sale contained in this Security Instrument; Co) such other period as Applicable Law might specify tbr rite termhtatioa of Borrmver's fight to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender ,all sram which then would be due under this Security Instrument and the Note as if no acceleration had occurred: (b) cures any default of any other coven=ts or agreements: (c) pays ti expenses incurred in enforcing this Security Imtrument, including, hut not limited to, re:,sonable attorneys' 'fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; ,and (d) takes :;uch action a.s 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 or moro of the following forms, as selected by Lender: (a) cash; (b) money order; (¢) certifit:d check, bank check, treasurer's cheek or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective ,'ts if no acceleration had occurred. However, this right to reinstate shail not apply i.n the case of acceleration under Section 18. 211. Sale of Note; Change or Loan Servicer; Notice of Grievance. The Note' or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") tlmt colleekq Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan .servicing obligations under the Note, this Security Instrument, and Applicable Law. There 'also might be one or more changes of the Loan Servicer unrelated to a sale of .the Note. If there is a change of the Loan Service:r, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made a.nd ~ation RESPA l~- Initial:: / I-( . 61WY) 1ooo51 P,'~go 11 a! 18 Form 3051 1/01 WED 12:58 PM WELLS FfiRGO HOME MORTG,qG F,qX NO, 8778038783 P, 26 c, 03q requQ'es in connection with a notice of transfer of servicing. Il' ihe Note is sold and thereafter file Lo,'m is serviced by a Loan Servicer other than the purchaser of' the Note. the mortgage loan servicing obligations to Borrower will re, hain with the Loan Servicer or be trkayferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or he joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Insmnneat or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lend0r has notified the other pony (with such notk:e gives in eoraplianee wffh the requirements of Section 15) of sach alleged breach ,'md affordea the other party hereto a reasonable period after the giving o't' such notice to take corrective action. If Appl.ieahle Law provides a time period whiel~ must elapse bel'ore certain action can he taken, that time period will he deemed to be reasonable for purposes of this paragraph. Thc notice of acceleration and oppo.rtmtity to cure giwn m Borrower pursuant to Section 22 and the notice of acceleration given to Burn,wet pursuant to Section lg shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Seer. ion 20. 21. Hazardous Substances, As used in r. his Section 21: (a) "Hazardous Substances" are those subslances del'meal as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestus or formaldehyde, and radioactive materials; (b) "Environmental Law" me,ms federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or enviromnental protection: (c) "Environmental Cleanup" includes ,any response action, remedial action, or removal action, as detined in Environmental Law; and (d) an "tSnviroamental Cond.idon" means a condition that can cause, contribute to, or otherwise ~iggar an Enviromnental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or ti~eaten to release any Hazardous Substances, on or in the Property. Borrower sl~l not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (h) which creates an Environmental ¢onaition, or (c) which, due to the presence, use, or release of a Haza.vdous Subs~nce, creates a condition Stat adversely affects file value ut' the Property. The preceding two :~entenees shall not apply to die presence, use, or storage on the Property of small quantities of Hazardous Substances ~hat are generally recognized to be appropriate to normal residential uses and to malnlenance of the Property (including, hut ant limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) ,any investigation, claim, demand, lawsuit or other action by any governm~n£al or regulatma/agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or ~reat ut' release of any Hazardous Substance, and (c) m~y condition caused by the presence, use or release o[ a. Haz,'u'dous Substance which adversely affects floe value of the Property. Il' Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediarion ol' any Hazardous Substance affecting the Property is necessary, Bon'ower shall promptly take all necessary remadial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Enviromnental Cleanup. Form 30.51 1/01 WED '12:66 PM WELLS FRRGO HOME MORTGRG FRX NO, 8778038763 P, 27 NON-UNIFORM COVENANTS. Borrower and Leader further covensnt u.d agree s~ follows: ?2. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Bm'tower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unle~ Applicable Law provides otherwise). The notice shall .~pecify: the default; {b} the action required to cure thc default; (c) a date, not ]ess than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before thc date specified in the notice may result in acceleration of thc sums secured by thi~ Security Instrument and sale of the Property, The notice shall 'further inform Borrower of the righl: to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immedL~te payment in tull of ali s,ams secured by this Security Instrument without further demund and may invoke the power of sale and any other remedies permitted by Applicable Law, Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in fids Section 22, including, but not Limited to, reaamtable attorneys' roes and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law, Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, 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 app~ed in the following order: {a} to all expenses of the sale, including, but not lhnited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and {c) any excess to the person or persons legally entitled to it. 23. Release, Upon payment of all sums secured by ~ls Security Instrument, Lender shall release this Security Instrm~aeat. Borrower shall pay any recordation costs. Lender may charge Borrower a fee releasing this Security Instrument, but on~y if the fee is paid to a third pa_ny i'or services rendered ~d the chaxging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives ail righ:s under and by virtu~ of the homestead exemption laws of Wyoming. Form :3051 1/01 ~ ~-I1-2005 NED 12,56 PM WELLS FARGO HOME MOR?GAG ;, FAX NO, 8778038763 P, 28 BY SIONING BELOW, Borrower ac¢¢p~ s. nd agre~ to th~ terms and ;ownanJs contained in this S;curky Instrument and in nny Rid~r exeauted by Borrower and recorded wJLh iL . / VALZER H WA~INQ (Se.I) -Borrower (S~al) (Seai) -ltorrowet -Sorrow=r (Se~l) (Seal) -Borrower -Bnrrnw;r (Seal) (Seal) -Borrow;r -Borr. wcr Form 3001 1101 ~";ziV-il-2006 WED 12:56 PM WELLS FARGO HOME MORTGAG FAX NO, 8778038763 P, 29 STA,'I['B OF WYOMING, ~,~ro~ Th~ foregoing ~s~ment w~ ~owledged before m~ this 5/11/2005 !30o4 County ss: My Commbsion Expires: 9-15-07 Ntatar~ Publi~ Form 3051 1101 :02 PIt I~ELLS FCIR60 tt011E MORTGfiG FRX NO, 8778038763 P, 08/30 .. 0034 Record and Return [] by Mail [] by Pickup '~o: _V!]~II~ Yargo Home ~o~'gagc Doc R. ecci'vin_g 3~0 ! ~innc~o£~ D~h,,e MAC ×4?0 Bloomington, MN 55435 M.~N'UFACTURED HOME RIDER TO SECURITY INSTRUMENT Tills Rider is mad~ tills ~ and is incorporat¢d into ,':md amends ~d supplemen~ the Mortgag~, Open-End Mongage~ed of3~ust, o~r~dk Line D~d Of Tl'US~, Security D~ed ("Secu~i~ Instrument") of the same da~ given by the undersigned ("Borrower") to secur~ Borrower's Note to Wells Fa~ Bank. N.A. ("Lender") of the same da[~ ("Note") and covering th, Property described in the Security lnstrumen~ and Ioca.~ad 77808 U~H~ 89 Smonh ~ 83]26 (Propc~ Address) Bo~ower and Lond~r agree ~m~ thc Socur]~ lns[rum~n~ is amended and supplemcn[~d m re~d a~ ']bllows: '1. M¢~nin~ of Some Word~. As used in this Rider, [h~ tona~ "Loml Documonts" m¢~s S~suri~ instrumcn[ ~nd any Cons[ru6fion Lo~n Agreement, and file [~ "Prop¢~", as in t]~ S~¢uri[y [ns~monL includes IbC "Manufactured Hom~" described in pamsraph 3 orthis Rider. All [~rms dofin~d in ~ho Nolo or fl~ Socuri~ Instrum~n[ sh~ll haw th~ same meaning ill [his Rider. 2. Purpose ~nd ~ffee~ of Rider. IF TI-IEI~ IS fi COffFLICT BE~EN THE PROVISIONS IN THIS [alDER AND THOSE IN THE SECURITY INSTRUMENT, THE PROVISIONS IN THIS ~DER SHAL~ CONTROL. THE CONFLICTI~8 PROVISIONS IN ~I-IE SECU~TY INSTRUMENT WILL BE ELIMINATED OR MODIFIED AS MUCH AS IS NECESSARY TO MAKE ALL OF TI-lB CONFLICTING TB~S AGREE WITH THIS RIDER. 3. Lender's S¢~uriCy Interest. All ofBo~ow,ds oblig~tion¢ ~curod by d~e S~curi~ lns[rumun[ also sh~ll s,=eurCd by [lie Manufac~rcd Home: 1¢~6 Gu~rdo i Homes 4524 6DBOID4.49~9972AB d4x32 ~ar Manufacturer,s Nm~ Model Nan~ or Model No. Manutb~tur~ff¢ S~riul No, L~nfffll/Wi~h Used Ncw/Us,'-d Page: 1 of 3 Rev I l, 18.2004 7~:7::¥ .: h;i¥-i 1-2'006 NED 01:03 PM WELLS FARGO HOME MORTGAG FAX NO, 8778038783 P, Og/30 Affixafion. Borrower covenan~ and agrees: ia) to affix dm Manuf'actured Home to a permanent foundation on fl~e Property; t~ comply with all Applicable Law regarding the affixatien of the Manufactured Home to the Property; (c) upon Lender's request, to sue'coder the certificate of title to the Manufactured Ho,ne, if surrender is permitted by Applicable Law, and to obtain the requisite governmental approval and documentation necessary to classify the Mauufacmred Home as real property under Applicable Law; (d) dm, af~xing the Manufactured Home to the Property does not violate any zoning laws or other local requirements applicable to the Propemy; (el that the Manufactured Home will he. at all times and for all purposes, permanently affixed to and part of the Property. Charges; Mens. Section 4. Paragraph I of the Security las,remora is amended to add a ftew third sentence to read: Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph and receipts evidenning the payments. Property Insurance. Section 5, Paragraph I of the Security [nstrumem is amended to add a new second sentence to read: Whenever the Manufactured Home is transported on the highway, Borrower must have trip insurance. 7. Notices. The second sentence of Section 15 of the Security hutrument is amended by inserting the words "unless othe~ise required by law" at th~ end. 8. .Additional Events nf Default. Bo~ower will be in default under the Securi~ Instrument: (al if any structure on thc Property, including the Manuthctured Home, shall be removed, demolished, or substantially altered; (b) if Bomower fails to comply with any requirement of Applicable Law (Lender, however, may comply and add the expense to the principal balance Bm'rower owes to Lender); or (el if Borrower gran~ or permits ~y lien on :lie Property other titan Lende~ lien, or liens for taxes and assessmen~ that are not yet due and payable. 9, Notice oi'Dehult. If required by Applicable Law, before using a remedy, Lender will send Bo~ower any notice requked by law, and wait Iht any cure period that the law may require for that remedy. I0. Additional Righ~ of Lender in Event of Foreclosure and Sale. la addition to fimse ri~t~ granted in the Note and Securi~ Instrument, Lender shall have the following righ~ in the event Lender commences proceedings for the foreclosure and sale of the Prope~. (al At Lender's option, to ~he extent pertained by Applic~le Law, Lender may elect to treat the Manufactured Home as personal property ["PersonM Property Collate~l"). Lender may repossess peacefully from the place where the Peaonal Prope~w Collateral is located wiflmut Borrower's permission. Lender also may require Borrower to make the Personal Propc~ Collateral available m Lender at a place Lender desi~at~s that is re~onably convenient to Lender and Bonower. At Lender's option, to the extent pertained by Applicable Law, Lender may detach and remove Personal Property Collateral from ~e Prope~, or Lender may take possession of it ~d leave it on ;he Property. Borrower agr~ m cooperate wifll Lendm' if Lender exercises these righL~. (b) Aher Lender repossesses, Lender may sell ~e Personal Prope~ Collateral and apply the sale proceeds to Lender's reasonable repossession, repair, ~torage, and sale expenses, and then reward any oilier amoun~ Borrower owes under the Loan Doeumenk~ Page 2 orb Rev I 1.111.2004 NED 01~03 PM WELLS FARGO HOME MORTG~G NO, 8778038763 P, ~0/30 '00345 (c) In the ,'-vent ofa.y foreclosure saM., whether made by Trustee, or under judgment ora courL all of' the real and Personal Propen7 Collateral may, at the option of Lender, b~ sold ~ a whole or in parcels, h shall not bo nece~a~ to have present at the place of such sale the Personal Prop~ Collateral or any pan thareo'L Lender. ~ well as Trustee on Lender's behalf, shall have all the righ% ronmdies ~d reeaurs, with mspec~ to the Personal Pmpe~ Collateral afforded m a "Secured Pa~,' by Applicable Law in addition to, and not ~ limitmian at the other righu ~d recourse afforded Lender and/or Trustee under ~o Securi~ Instrument By s~ agzees to the terms ~d covenants ¢onlained in, is Rid?. Bo~ow,r Vallor R, Waring ff STATE OF WYOMING ) ) ss.: COUNTY' OF TETON ) On the 11 th day of May in the yea]- 2005 before me, the undersigned, a Notary Public in and for said State, personally appeared R. Gordon Waring and Valier R. Waring , ~ personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is(~ subscribed to 'file within instrument and acknowled, g~ed to me that he/~;he/they executed the same in his/herl[!~ capaci'tyl~ m~d that by hisA~er~ signatm'e(s) on the instrmnent, the individual(s), or the person on behalf of which the individual(s) acted, executed the instrmnent. Notau Signature Gloria K. Byers Notary Prin~d Name Notary Public; State of., Qualified in the County of My commission expires; Official Seal: Wyoming ESncoln 9-15-07 Drafted ByLK_imberly Butts Page 3 of 3 Rev 1 I,I 1t.2oo4 ::::::::::::::::::::: EXHIBIT "~" Attached Legal Description To-wit: -- That part of the SW%SW¼ of Section 32, T31N, RllBW, Lincoln County, Wyoming, being part of that tract of record in the Office of the clerk of Lincoln County in Book 112 of Photostat- ic Records on page 445, described as follows: COMMENCING at the southwest corner of said SW%SW¼, found as described in the Certified Land Corner Recordation Certificate filed in said office; thence N00'-47.1'w, 383.50 feet, along the West line of said SW¼SW~, to the northwest corner of that tract of record in said Office in Book 133 of Photostatic Records on page 548, marked by a spike; thence NBg'-34.0'E, lC.40 feet, along the north line of said tract in Book 133 to the northeast point thereof, the ~OI~T OF B~GINNIN~, on the east right-of-way line of U.S. Highway 89; thence continuing NBg'-24.0'E, 156~60 feet, along a north line of said tract in Book 11~, to a point; thence $00"-47.1'S, 13B.24 feet, parallel with the~aS~ line of said SW¼SW%, to a point; thence S89'-34-0'W, 15~.53 feet, parallel with said ngrth llne, to ~.point on said east right-of-way line; thenG~'~0&-O0.7.'E, 138.25 feet, along said east right-of-way the B~SE ~EARING for this survey is the south line of the SW¼BW¼ of Section 32, T31N, Rll8W, Lincoln County, Wyoming, being N89'-24.0'E; each "point" marked by a 5/8- x 24.. ~teel reinforcing rod with a 2" aluminum cap inscribed "SURVEYOR $C}[ERBEL, LTD. BIG PINEY, WY PLa 5368", with appropriate details; all in accordance with the plat prepared to be filed in the offic~ pf the Clerk of Lincoln County titled "PATRICIO S. SAINZ AND ROBERT GOROON WARING PLAT OF TRACTS WITHIN TME SW¼SW¼ SECTION 32 T31N ~llBW LINCOLN COUNTY, WYOMING", dated 24 June 1993. 'Modili¢nlion in any way o1' II,e I'oresoinl~ descriplion lc.ninnies liabilily o~ Ih~: .mrveyor"