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HomeMy WebLinkAbout875716After recording pleas e return to: -" Indsd~c Bank, F.S.B. c/o [Company Nama] ' ,. , '~ ~' ,~,r~,j.~L 19","~ ~,~ ~ame of Natural Pemon] ~55 ~ ~e Avenue [Street Addre~] Pas~e~, ~ 91101 [City, St~t~ Zip C od~] [SF,~ce Above This Une For Recording Data] MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security InstrUment" means :~.his document, whichis dated Augus~ 24, 2001 together with all Riders to this document. (B) "Borrower"is Harvey W. 'Ritter, A Single Person ·,.'.': . Borrower is tl~ mortgagor under this Security Instnunent. (C) "Lender" is IndyMac Bankii F.S.B., a federally chartered savings bank Lender is a federal savings bm'~ organized and existing under the laws of United Bt.~t~s of ~ica Lender's addressis 155 North lake Avenue, Pasadena, CA 91101 Lender is th: mortgagee under this Securt:ty Instrument. (D) "Note" means th: promissory m?te signed by Borrower and dated Auqu~t 24, 2001 The Note states that Borrower owes Lenq6r one hundred fifty ~ thousolld ~ NO/100ths i. Dollars (U.S. $ 152,000.00 ) plus interest. Borrower 'lms promised to :pay this debt in regular Periodic Payments and to pay the debt in filll not laterthan Sep~ 1, 2031 loan No:: 1196474 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 01/01 --THE COMPliANCE SOURCE, INC.-- Page I of 13 ~4oo~wv 0~00 NOTE: This serves to correct the legal description of that certain Mortgage recorded August 29, 2001 i~. Book 471pR on page 776 of the records of the Lincoln County Clerk. f ~'~ .I~7 BOOK ~- ( ~'7..j)R PAGE ;'i' f C F I '~,/t: ' .... :~. fl 7 (g) "Property" means the proper~y that is described below under the heading "Transfer of Rights in the Property." Or) "Loan" means the debt eviden6ed by the Note, plus interest, any prepayment 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 executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable J: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [] Balloon Rider lgA~] Planned Unit Development Rider [] Biweekly Payment Rider [] 1-4 Family Rider [] Revocable Trust Rider [] Other(s) [specify] (H) "Applicable Law" means all Controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (t~}::~ have the effect of law) as well as all applicable final, non-appealable judicial opinions. :. (1) "Community Association Dut~!s, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower ~:ir the Property by a condominium association, homeowners association or similar organizatiov~ (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which, is initiated through an electronic lerminal, telephonic instnnnent, computer, or magnetic tape so as to order, instruct,~,or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-~ale transfers, automated teller machine tramactions, transfers initiated by telephone, wire tramfers~ and automated iclearinghouse tramfers. (K) "Escrow Items" means those it~:::rns that are described in Section 3. (L) "Miscellaneous Proceeds" me,ms any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) da~nage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) corn,, eyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage/nsuranee" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Esi~te Settle~nent Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24- C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all rexlUJ:rements and restrictiom that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualibj as a 'Tederally related mortgage loan" under RESPA. Loan 1~o:- 1196474 Wyoming Mortgage-Single Family-Fannie MaedF?e/tdie Mac UNIFORM INSTRUMENT Form 3051 01/01 --THE COMPLIANCE SOURCE, INC.~ Page 2 of 13 ~ \,x~// ~4oo~vo/ owoo (P) "$utctssor in Interest of Bor:owtr" mca~ a~ p~ ~t ~s ~n tit]~ 1o t~ Pro~ ~hether or not t~t p~ty ~s ass~d Bo~ower's obligatiom ~der t~ Note a~or t~s S~ufi~ Imt~nt. T~NSFER OF ~G~S ~ ~ PROPERTY T~s Seeufi~ Imt~nt S~res to LdMer: (i) t~ repay~nt of t~ Loa~ a~ all re~w~s, emensions a~ modificatiom of t~ Note; aM (ii) t~ ~$~effo~me of Bo~ower's cove~n~ aM ag~nts ~der tbs Secufi~ Imt~nt ~ ~ Note. For ~s p~pose, Bo~ower does ~reby moagage, gr~ ~ convey to ~nder aM Lender's successors and assi~, ~thpmy~r of sale, t~ following described property locat~ in t~ ~ype of Re~rding du~s~onJ ~ ame of Re~rdin~ du~sdio~on] which currently has the address of 95167 Highx, rdy 89 Thayne .;!'Wyoming 83127 ("Property Address"): [City] f'Zip Code] TOGETHER WITH all the imprOVements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or here+ager a pan of the property. All replacements and additions shall also be covered by this Security Instrument. All:01~i the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS t~*t Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defe!:ad 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 variatiom by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Bmxower and Lender covenant and agree as follows: 1. Payment of Principal, ]Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any. prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. curremy. However, if any check or other instrument received by Lender as .payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, Loan No:: 1196474 Wyoming Mortgagt~Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 01/01 --THE COMPLIANCE SOURCFn INC.-- Page 3 of 13 14o01wY 0~/00 bank check, treasurer's check or cashi,~r's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agencyl, 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 provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the I/oan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without wai~,er of any rights hereunder or prejudice to its rights !0 refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the ~tiine such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender nedd not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment t~ bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now ~,r in the future against Lender shall relieve BorroWer from making payments due under the Note and this Security'I~trument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments ,~r: Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be a~plied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) arra:iunts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it becamt?i due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment ': ... r~orrower for a delinquent Periodic Payment which ip~.ludes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late 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 extent that any excess exists after the payment is applied to the full payment of one or mere 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 Note. Any application of payments, i. nsurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items.': Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a stun (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or groUnd rents on the Property, if any; (c) premiums for any and all insurance required'by Lender under Section 5; and (d) Mortgage Insurance premiums, ff any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called scrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Asso~:iation Dues, Fees, and Assessments, ff any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Iten~ Borrower shall promptly furnish to Lender all notices of amounts to he paid under this 'Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay ~he: 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 shal! pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment withir~ such time period as Lender may'require. Borrower's obligation to make such payments and to provide receipts s!mll for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exemise its rights tm. der S~'~ction 9 and pay such amount and Borrower shall then be obligated under Loan No:: 1196474 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 01/01 ~TIIE COMPLIANCE SOURCE, INC.-- Page 4 of 13 ~4oo~wY o~oo Section 9 to repay to Ixnder any such a~:aount. Lender ~y revoke t~ w~ver as to a~ or all Escrow Iteum at a~ ti~ by a notice given in accordame wi~h Section 15 aM, upon such rev~afio~ Bo~ower shall pay to Lender all F~ds, a~ in such a~ums, t~t are ~n req~red ~der tbs Section 3. Lender may, at a~ time, collecl:, a~ hold F~ds in an mnoum (a) su~cient to pe~t Lender to apply t~ FuMs at t~ ti~ specified u~er ~SP,& mfl ~) not to exc~d t~ ~m a~um a lender can req~re under ~SPA. Lender s~ll esti~te ~ m~'~.~nt of F~ds du~ on ~ basis of ~ data ~ maso~blo osfi~tes of e~endi~es of~e Escrow Ite~ or oi:~s~ in accorda~e ~ Applicable ~w. The Funds s~l be ~ld in an in~fi~ion whose deposits are im~ by a f~er~ agent, i~t~entality, or entiW (imluding Lender, ff Lender is a~ imti~fion whose deposits are so imur~) or in ~y Federal Home Loan B~. Lender s~l apply the F~s to pay t~ Escrow Ite~ no later ~n ~ ti~ specked u~er ~SPA. Lender slmll mt c~rge Bo~ower for holing a~d appl~ng t~ Funds, ~ually amlyzi~ t~ ~scrow account, or vofi~ing t~ Escrow Ite~, ufless Lender pays Bc~ower imerest on t~ FuMs a~ Applicable Law pe~ts Lender such a c~. Unless an a~ee~nt is made in ~ifi~ or Applicable Law r~ares imerest to be paid on ~ F~ds, ~nder s~l mt be req~red to pay Bom.~wer a~ interest or ~ngs on ~ F~ds. Bo~ower a~ Lender can agree in wdfi~, however, ~t interest s~l'be paid on t~ Fu~s. ~nder s~ll give t0 Bo~ower, ~t~ut charge, an a~ual accounting of fl~ F~ds as req~red by ~SPA. If there is a s~lm of F~ds ~1~ in escrow, ~ defi~ ~der RESPA, ~nder s~ll account to Bo~ower for t~ excess hms in accordan~ ~tl~ ~SPA. ~ t~re is a shortage of FuMs ~ld in escrow, as defied ~der ~SP& Lender s~ll mti~ Bo~ower .a0 req~r~ by ~SPA, ~ Bo~ower sl~ll pay to Lender 11~ amount ~cess~ to ~ke up ~ s~age in accor~nce ~th ~SP~ but in no ~re ~n 12 ~nt~y pay~nts. If there is a deficiency of F~ds held in escrow, as. defined ~der ~SPA, Lender s~ll not~ Bo~ower as required by ~SP~ ~ Bo~ower s~l pay to Leniter t~ a~unt n~essaw to ~e up ~ deficien~ in accor~nce with ~SP~ but in m more t~n 12 ~n~y pa~n~. Upon pay~nt in hll of all sm~ secur~ by tl~s S~ufi~ Im~nt, Lender s~ll promptly re~d to Bo~ower a~ F~ds ~ld by Lender. , :~ 4. Charges; Liens. Bo~ower s~l pay ~1 ~s, as~ssmen~, c~rges, fines, a~ i~ositiom aRfib~ble to t~ Prope~ w~ch c~ a~f~n pfiofi~ over t~s Security I~t~nt, leasehold pay~nts or ~ou~ re~s on t~ Pro~, ~ a~, ~ Co~:~ ~sociafion Dues, Fees, ~ Assessments, if a~. To fig extem t~t ~se ite~ are Escrow Ite~, Bo~ower s~ll pay ~m in t~ ~r pro~d~ in Section 3. Bo~ower sl~l pro~tly ~scl~rge ~ lien w~ch ~s pfiofi~ over ~s Secufi~ ~t~ent u~ess Bo~ower: (a) a~ees in ~ti~ to t~ pay~nt of t~ obligation secur~ by t~ lien in a ~r acceptable to ~nder, but only so long as Bo~ower;~s peffo~ng s~h a~ee~nt; ~) ~ntests t~ lien in good fait~ by, or defends agai~t enforcement of t~ lien i~ leg~ pro.dings w~ch in Le~er's opinion operate to prevent tl~ e~orcement of t~ lien w~le ~ose proceedings are pe~ng, but only ~til s~h probings are conclMed; or (c) s~ures from t~ holder of t~ lien ~. a~mem sati~cto~ to ~er s~or~ ~ lien to tl~s Sec~W I~t~m. ~ Lender dete~s ~t any pa~ of t~ Prope~ is s~ject to a lien w~ch can a~ain p~o~W over t~s Secu~ I~t~m, Lender ~y .~ve Bo~ower a mtice idem~ing t~ lie~ Wit~n 10 days of the date on w~ch ~t notice is ~ve~ Bo~ower s~ll sa~is~ t~ lien or ~e one or more of tM actiom set fo~h above in this Sec~on 4. Lender may r~re Bo~ower to pay a o~-~ c~ for a re~ estate ~x ve~ca~on a~or re~r~ se~ce used by ~nder in con~tion ~l~l'~t tl~s ~an. 5. Prope~y Insurance. Bon:ower s~ll k~p t~ i~rovementsnow e~sti~ or hereafter erect~ on the Prope~ imbed a~imt loss by fire, lm~a:rds imlMed ~t~n the te~ "e~ended coverage," aM aw other ~zards imluding, but ~t li~t~ to, e~es aM floods, for w~ch Lender req~res imurame. T~s imurame s~l be ~maimd in ~ a~ums (imlMing deductible levels) ~ for t~ pe~ods ~t ~nder req~res. ~mt Le~er req~res p~s~m to tM preying sente~s can c~nge du~ ~ te~ of t~ Loan. T~ imur~e cagier providing t~ imur~e s~ll ~ chosen b.y Bo~ower s~j~t to LeMer's ~t to disapprove Bo~ower's choice, w~ch ri~ s~ll not be exercis~ ~easo~ably. LeMer ~y req~re Bo~ower to pay, in co~ction wi~ t~s Loa~ Wyo~g Mo~gag~SinOa F~ily-F~e ~:~die Mac UNIFO~ ~STRUMENT Fo~ 3~1 01/01 ~THE COMPLIANCE SOURCE, INC.~ Page $ of either: (a) a one-time charge for fl~d~ zo~ dete~fio~ cer~cafion ~ tracing se~ces; or ~) a oneqi~ c~rge for flo~ zone detestation ~ cenfficafion se~ices aM s~s~uent c~ges each ti~ remppings or si~l~ cMnges ~ur wNch rmso~bly r~ght ~ect such detemmtion or cenfficmio~ Bo~ower s~ll also be mspo~ible for tl~ pa~ent of ~ fees i~osed by tM Feder~ Emergen~ Mamgement Agency in co~ection Mth ~ renew of ~ fl~d zone dete~mtion'res~ting ~om an objection by Bo~ower. If Bo~ower fails to mimain any ~.rff ~ coverag~ descfib~ a~ve, Lo.er my obt~n imme =coverage, at Lender's option aM Bo~ower's expem~ Lender is under no obligmion m p~c~se a~ panic~ t~e or amum of coverage. T~refore, such coverage s~ll cover Lender, but mig~ or m~t mt prot~t Borrower, Borrower's ~uiW in t~ Prope~, or ~ mmems of rite Prope~, a~imt aw risk, Mzard or liabili~ ~ ~ght pm~de ~eater or lesser covem~ ~ w~ pre~ously in effect Bo~ower ac~wledges ~t tM cost of tb~ i~mame coverage so obtained ~t si~fic~tly exc~ the cost of i~umme t~t Bo~ower could ~ve obtainS. ~y amums · sbursed by LeMer uMer tNs Sectim~ 5 s~ll become ad.floral de~ of Bo~ower seared by ~s Security I~t~nt. T~ amoums s~ll be~ imerest at t~ Note rate Rom t~ date of disbursement a~ s~ll be payable, with such i~emst, ~on mtice from ~m[er to Bo~ower r~msfing pay~nt. All im~e policies req~redt'Y Lender aM remwals of such policies sMll be subj~t to Lender's right to disapprove such ~licies, s~ll imlude a Sta~rd ~ngage cla~e, aM s~ll m LeMer as mngag~ a~or as ~ addifioml loss'payee. Lender s~ll ~w.; t~ ~t to ~ld tl~ policies aM fenwal ~cat~. If Lender reqffires, Borrower s~ll pro.fly give to Lender fill receipts of paid pre~ ~ remwal mtices. ~ Bonower obtai~ aw form of immme coverage, mt o~ise required by Lender, for damge to, or des~tion of, fl~ Pm~y, such policy sMll imlMe a s~ard m~gag:=,~ cla~e a~ s~ll ~ Lender as ~gag~ a~or as an addifioml loss payee, ; In ~ event of loss, Bo~ower '.~;~11 give pro~t notice to t~ i~umme c~ier aM Lender. Lender ~y ~e proof of loss if mt ~de pro~tly bg Bo~ower, Unless Lender aM Borrower o~e~se a~ee in ~, aw i~umme proc~ds, whether or not ~ un6erl~ng i~umme was req~r~ by ~nder, s~l ~ applied m restoration or rep~r of ~ Pr~e~, if t~ restoration ~or repair is econo~cally feasible ~ Lender's secufi~ is mt lessened. D~i~ such repot aM restoration pehod, Lender sMll ~ve t~ fi~ to hold tach im~ame proceeds until LeMer ~s ~d ~ oppo~u~W to impect such ~?n>Pe~ to emure the work ~s been completed to Lender's satis~ctio~ provided ~t smh i~pecflon s~l be ~m:le~en pm~fly. Lender my ~sbume pr~ds for ~ repairs ~ restoration in a single paymnt or in a se:deS of pm~ess ~ents as t~ work is mmpleted. Unless an a~ee~m is ~de in w~ti~ or Applicable Law mq~ires imerest to be paid on such i~umme proceeds, Lender s~ll not ~ req~red to pay Bo~ower aw imerest or ea~ngs on such process. Fees for p~lic adjmmrs, or other fldrd paaies, re.md by Bo~ower s~ll not be paid out of tl~ i~ame premeds aM s~ll be t~ sole obligation of Bo~ower. ~ t~ restoration or repair is not economically feasible or Lender's secmW would be lessened, t~ i~urame p[oceeds s~l be appli~ to ~ s~ semred by this Se~W I~t~m, w~r or not ~n due, ~ fl~ excess, ff any, paid to Bo~ower, Smh i~a~ premeds shall be appli~ int~ order prodded for in S~tion 2. ~ Bo~ower abando~ fl~ Prope~, Lender ~y file, mgotiate aM scale ~ available im~ame claim aM related m~ers. !f Bo~ower d~ not reS~M ~t~n 30 days to a notice ~om ~nder t~t tl~ i~ame career ~s offered to settle a clai~ t~n Lender my nego~ate aM scale ~ cl~ T~ 30~ay ~od will begin w~n the no~ce is ~ven. In citer ~em, or ffLender acquires the Prope~ uMer Section 22 or o~e~ise, Bo~ower ~reby assi~ to Lender (a) Bo~ower's h~ts m a~ i~me pr~ in ~ amoum not to exceed t~ am~ts u~aid uMer ~ Note or tbs S~ I~t~nt, aM ¢) ~y other of Bo~ower's fi~ts (o~er t~n t~ h~t to aw ream of ~ea~d pre~u~ paid by Bo~owe:0 ~der all imm policies cove~ t~ Pro~, imofar as such ~ts are applicable to t~ coverage of ~ Prope~. Lender my ~e t~ imu~e pmce~s citer to repair or restore t~ Pmpe~ or to pay amunts ~p~d ~er.~ Note or fids SecudW Imt~m, w~ther or mt,~n due. 6. Occupancy. Borrower s~fll occupy, establis~ a~ ~e t~ Prope~ as Bo~ower's pdmipal residence ~t~n 60 ~ys ~er ~ excretion of tbs Secu~ty ~nent aM s~ll contime m occupy t~ Prope~ as Bo~ower's p~mpal mside~ for at least one y~ ~er t~ date of ~cupa~, uffiess Lender othe~se a~s in Loan No:: 1196474 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form ~0Sl 01/01 ---THE COMPLIANCE SOURCE, INC,-- Page 6 of 13 14001wy 08~00 .... c. m IIl]llil lllffillil l li writing, which consent shall not be um',easonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7, Preservation, Maintenani? and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, ;Alow the Property to deteriorate or commit waste on the Property. Whether or. not Borrower is residing in the Prope:rty, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically ~'easible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower stu~!l be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and 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 sufficient to repair or restore the prOperty, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration ,: Lender or its agent may make. reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior Of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application, Borrower shall be in default fi, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection :with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, Co) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights ruder tiffs Security Instrument (such as a proceeding in ban~Uptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Se~.urity Instruroent or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender m~y do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under lhis Security Imtmment, including protecting and/or assessing the value of the Property, and securing and/or repairing the PropeEty. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; Co) appearing in court; and (c) paying reasonable attorneys' fees t~ protect its interest in the Property and/or rights under this Security Instnm~ent, including its secured positiah in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to mak~ !repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or othe~ ~:ode violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under :~his Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any mnounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amo:'i~nts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon .!~otice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Proper~ii. the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. '. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by ~, Lender ceases to be available from the mortgage insurer that previously provided such insurance and BOrrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay~the premiums required to obtain coverage substantially equivalent to the Loan 1~1o:: 1196474 .~ Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 01/01 ~THE COMPLIANCE SOURCE, INC.~ Page 7 of 13 x4ooxwv oatoo www.ca~plia ........ ra II~il[~lll~Jl · A ~2000, TI~ Campli~r~ Source, lr~. '-:'' 17 Mortgage Insurame previously in effec~:i at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. ' Such loss reserve shall be nonTrefundable, notwithstanding the fact that ~.e Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on Such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is 'obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurame as a condition of making the Loan and Borrower was required to make separat~:ly designated payments toward the premiums for Mortgage Insurame, Borrower shall pay the premiums required: to maintain Mortgage Insurance.in effect, or to provide a non-refundable loss reserve, until Lender's requirement f..or Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects BorroWer's obligation to pay inlerest at the rate provided inthe Note. Mortgage Insurame reimbursei~. Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to tl~e Mortgage Insurance. Mortgage insurers evaluate their ,'iotal risk on 'all such insurance in force from time to time, and may enter into agreements with other parties that s~re or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer nay have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the fo::reg°ing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of BOrrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements wil~t n°t affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrow er to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the HomeOwners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned'at the time of such cancellation or term ination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender.':. If the Property is damaged, such, Miscellaneous Proceeds shall be applied to restoration or repair of the Property, ff the restoration or repair is )economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender slmll have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property.. t°i ensure the work has been completed to Lender's satisfactimg provided that such inspection shall be undertaken ;Promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be Paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be l%s~:'reed, the Miscellavea)us Proceeds shall be applied to the sums secured by Loan No:: 1196474 Wyoming Mortgage-Single Family-Fannie Mae/F,:eddie Mac UNIFORM INSTRUMENT Form 30~1 01/01 --THE COMPLIANCE SOURCE, ][NC.-- Page 8 of 13 I4001WY 08/00 this S~ud~ I~t~m, Pmc~ds s~ll ~ appli~ in fl: order pr~ ~ided for in Section 2. In t~ evem of a total t~ng, de?t~tio~ or loss in val~ of tl~ Prope~, t~ Miscella~us Proceeds shall be appli~ to t~ su~ secur~ by this S~:CudW I~tm~nt, whether or not t~n d~, ~th t~ ex~s, if aw, paid to Bo~ower. In ~ evem of a papal t~ng, i'les~Qo~ or loss in val~ of tb~ Prope~ in w~ch ~ f~r Imr~t value of t~ Prope~ i~diately before ~ pan~:al ~ng, dest~doa or loss in val~ is equal m or ~eater t~n the a~um of ~ su~ secured by t~s S~W I~t~em i~diately before tl~ papal ~ng, des~Qoa or loss in val~, u~ess Bo~ower ~ Lender othe~ise:a~ in ~ti~, t~ su~ ~cured by ttds SecudW I~t~nt sMll be red,ed by tl~ ~unt of ~ ~scell~ous Pro~s multiplied by ~ following ~aiom (a) ~ total annum of tl~ s~ secured i~iately before t~ pa~ial t~ng, dest~ion, or loss in v~ ~ded by ~) ~ far ~r~t val~ of t~ Prope~y i~ediately ~forg~ ~ p~al t~ng, des~o~ or loss in v~. ~y bala~e Sl~I be paid to Bo~ower. In t~ evem of a partial ~ng, aes~Qoa or loss in val~ of t~ Prope~ in which t~ fair ~r~t v~ue of t~ Prope~ i~ediately ~fore tl~ pani~ ~ng, des~ioa or loss in v~ is less tMn tt~ a~um of fl~ su~ seared i~diately befo~ ~ papal ~ng, dest~tio~ or loss in value, ~ess Bo~ower aM Lender othe~se a~ in ~ti~, ~ Miscell~ous Pr0ce~s sMll ~ appli~ to t~ s~ s~red by this SecudW I~t~em whether or ~t ~ s~ ae tl~n due. If t~ Prope~y is aba~oned by Bo~ower, or fi, aQer ~tice by ~nd~ to Bo~ower t~t tM Opposing Pa~ (as d~ned in ~ ~xt sente~e) offers t0. i~ke ~ awed to settle a cl~m for da~ges, Bo~ower fals to respond to Mnder ~t~n 30 days ~ter tl~ ~te t~ noti~ is gives Mnder is aut~dzed to collect aM apply t~ Miscella~ous Proceeds eit~r to restormion or repair of ~ Prope~ or to ~ ~ ~curM by ~s SecudW Imt~nt, w~flzer or not t~n due. "~posing Pa~' mea~ t~ t~rd pa~ ~t owes Bo~ower ~s~lla~ous Proceeds or t~ party agai~t w~m Bo~ower ~s a ~ of action in regard to ~scell~ous Pr~s. Borrower s~ll be in defa~t ~ aw action or pr~ee~ng, whei~r civil or cdmi~l, is be~ tMt, in M~er's jud~em, could result in foffeiare of t~ Pro~ or other ~tefial i~ai~m of Le~er's interest ia t~ Prope~ or d~s uMer ~is SecudW .'~t~nt. Bo~ower c~ cure such a defa~t ~, if acceleration Ms occu~ed, rei~tate as provided in SecQ°~'~ 19, by causi~ fl~ action or prong to ~ ~s~ss~ with a ~ing t~t, in Lender's jud~nl, preclMes forfeiture of t~ Pro~ or other ~tedal ~ai~nt of Lender's imerest in t~ Propc~ or d~s ~der t~s Sec~ty ~i.~m. T~ prods of ~ a~d or claim for ~ges t~t ~e attdb~ble to t~ i~ai~m of Lender'~?imerest in t~ P ro~ are ~reby a~i~ aM s~ll be paid to MMer. AH ~scella~ous Proceeds ~e not applied to restomtion or rep~r of t~ Pro~ sMll be applied in ~ order pro~d~ for in Section 12. Borrow er Not Released; ']~orbearance By ~nder Not a Waiver. E~e~ion of t~ ti~ for paymem or modification of a~ization of t~ sl~ se~ by t~s S~ufiW I~nt ~amed by ~nder to Bo~ower or ~ Su~essor. in Imerest of Bo~ower i~ll not o~rate m rel~ ~ liabiliW of Bo~owcr or aw Succes~rs in Imerest of Bo~°wer. Lender s~ll not ~ req~red to com~ pryings a~imt aw S~ssor in Imerest of Borrower or to rede to emend Securi~ I~t~m by reason of any de~ ~de by the od~l Bo~ower or a~ Successors in Interest of Bo~ower. ~ forbeaa~e by Lender in exercisi~ ~ ri~t or ~dy i~l~ng, ~t~ut li~mtio~ LaMer's ac~p~nce of pay~nts ~om t~rd persona, emifies or Successors in Imerest of Bo~owcr or in a~ums less ~n t~ a~um ~n due, s~ll ~t be a waiver of or pr~lMe t~ exercise of ~ ~ or re~dy. 13. Jolt and Several Liab~y; C~signe~; Successors ~d Assigns Bound. Bo~ower covcna~s a~ agrees t~t Bo~er's obligado~ ~ li~ibiliW sMll be joim aM sever~. However, ~y Bo~ower w~ co-si~ this Secudty I~t~nt but does ~t execute ~ Note (a "co-sider"): (a) is co-si~ng t~s Se~dW I~t~m o~y to mortgage, ~am a~ ~nvey ~ co-si~r"s ime~st in ~ Prope~ ~r ~ te~ of ~s S~dW I~t~m; ~) is not perso~ly obligated to pay Loan No:: 1196474 Wyoming Mo~g~S~e Famil~Fannie Ma~Fr~e Mac U~FOI~VI ~STRUMENT Form 3~1 01/01 ~THE COMPL~NCE SOURCE, ]NC.-- Page 9 of 13 14o01wv 0~oo other Borrower can agree to extend, modify, forbear or make any acconnnodations with regard to the terms of fids Security Instrument or the Note without ihe co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security h~Stmment. Borrower shall not be released from Borrower's obligations and liability under this Security Instrumem unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument sliall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. " 14. Loan Charges. Lender'~nay charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under fids Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express autho[ity in ttfis Security Instrmnent to charge a specific fee to BorroWer shall not be construed as a prohibition on the cha/rging of such fee. Lender may not charge fees that are expresslY prohibited by this Security Instrument or by Applici0>le Law. If the Loan is subject to a 1aw'l.:~hich sets maxirnmn loan charges, and that law is finally interpreted so that the interest or other loan charges colle?!t~ or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums alread?' collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to matie this refund by reducing the principal owed under the Note or by ~ualdng a direct payment to Borrower. If a refined reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether.or.not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by 'direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overeharge. 15. Notiee~. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to BorroWer in conneclion with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class r:,il or when actually delivered to Borrower's notice address ff sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify 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 of 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 he given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this :Security Instrument is also required under Applicable Law, the Applicable Law requirement will Satisfy the correspo~.cling requirement under this Security Instrument. 16. Governing Law; .Severability; Rule~ of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrmnent are Subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the p~arties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreem,nt by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrmnent: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; Co) words in the singular shall mean and include the plural md vice versa; and (c) the word "![my', gives sole discretion without any obligation to take any actio~ 17. Borrower's Copy. Borrow~;r shall be given one copy of the Note and of this Security Instrument. Loan No:: 1196474 :~ Wyoming Mortgage-Single Family-Fannie MaedF~eddie Mac UNIFORM INSTRUMENT ' Form 3051 01/01 --THE COMPLIANCE SOURCE, INC.-- Page 10 of 13 14001wy 08/00 18. Transfer of the Proper~y ~}r ~ ~nefi~i~l In~e~t in Borrower. As us~ in t~s Section lB, "/merest in t~ Properly" meam ~ leg~ or ben~fiei~ imerest in fl~ Prope~, i~l~ing, but not li~ted to, t~s~ ~nefi~i~ im~rests ~amferred in a Bond for d~d, ~:~ontraet for d~d, imtall~m sales ~omra~ or escrow a~eoment, the imont of wlfieh is t~ tramfer of title by Bo~ow~r at a ~mr~ ~to to a ff all or ~y pail of th~ Prop~ or a~ Imemst in t~ Prope~ is sold or ~amf~rr~ (or na~al porson a~ a b~nofioial im~r~st}n Bo~owor is sold or tramf~d) wi~ut Lond~r's prior ~tton oons~m, L~nd~r ~y r~uir~ i~ediato paint ¥.n full of ~1 su~ sem~ by ~s S~ufi~ Imt~em. However, tiffs option s~ll mt b~ ~xereised by ~nder ff such (~er~iso is pro,hired by Applimbl~ Law, ffL~nder ~xereises t~s optio~ 'Lender s~l ~w Bo~ow~r notie~ of aee~l~ratio~ T~ notio~ s~ll provid~ a period of not less t~ 30 ~ys ~o~t~:, date t~ notice is ~ven in accor~me ruth Section 15 ~t~n which Bo~ower mint pay all s~ s~Ured by t~s Secu~ty I~mm, ~ Bo~ower fails to pay tl~se sm prior to t~ e~irafion of ~s period, Lender my i:~oke a~ re~ies pe~R~ by ~s S~u~ty I~tment ~t~ut ~r notice or deem on Bo~ower. ,.~ 19. Borrower's ~ght to Re.state After Acceleration. If Bo~ower meets m~ain condition, Bo~ower s~ll Mve ~ ~t to ~ve e~omemem/of ~s S~ufiW ~t~nt dismntimed at any ti~ prior to t~ ~rliest of: (a) five days before sale of fie Prope~ P~smm to any power of ~e mn~ in ~s Secufi~ Im~nt; ¢) such ?l~er pe~odffs App~ca~e Law ~ SPe~ for ~ te~mtion of Bo~ower's fi~it to reimtate; or (c) en,. ora jua~nent emorc~g t~s Security lm~nt. T~se condifiom ~e ~t Bo~ower: (a) pays Lender all su~ w~ch t~n would be d~ ~der this Sec~iW .?st~nt a~ t~ Note as if default of aw other covenams or a~ngnts; (c) pays all e~es imbed in enforcing ~s SecufiW I~tmmnt, imluding, but not li~t~ to, reasombl~ atto~ys' fees, prope~ impecfion aM valmfion fees, aha other fees i~u~ed for ~ p~ose of protecti~ Le~er's i~re~ in fig Prope~ ~ fi~ ~er ~s Sec~ I~ent; aM (d) ~s such a~ion as ~nder my re~mbly r~re to assure ~t Lear's intere~ in t~ Prope~ aM uMer t~s SemfiW I~nt, ~ Bom~wer's obligation to pay ~ su~ s~ur~ by tiffs Security I~nt, shall contin~ um~g~. ~Mer my r~r~ l~t Bo~ower pay such mi~te~nt su~ aM e~es in one or more of ~ following fora, as select~ by Le~tder: (a) ms~ ~) money order; (c) ~ffifi~ check, ba~ check, tr~s~er's check or cashier's check, provided aw:such c~k is dra~ upon ~ i~fit~on whose deposits ~e i~ed by a federal agency, ~mn~liW or enti~ or (d) Electrode F~ds Tmmfer. U~n rei~mte~nt by Bo~ower, t~s Secu~W Instant aM obligafio~ s~red hereby s~l reran ~lly eff~ive as if m acceleration lind ocm~ed. However, t~s fi~ to restate s~ll mt apply in t~ case of a~elemtion ~er Section 18. 20. Sale of Note; Change of ]~.~an Se~ieer; Notice of Grievance. T~ Note or a pa~ial i~erest in No~ (toge~r with tbs SecudW Imt~m) can be sold one or more fi~s M~ut prior notice to Borrower. A sale ~g~ resdt in a c~nge in ~ emiW ~Own as t~ "Loan Se~cer") ~t collec~ Pedo~c Pay~nts due ~der t~ Note aM t~s Secufi~ Iment ~ffom o~er moP.ge lo~ se~ci~ obHga~o~ under tlg Note, t~s SecufiW I~nt, aM Applimble Law',:. ~re also m~ ~ om or rare c~es of t~ Lo~ Se~cer ~elated to a sale of ~ Note. ff ~re is a c~g.~J of ~ Loan Se~cer, Bo~ower MIl ~ ~ven ~Ren mfi~ of ~ c~nge w~ch ~11 s~te't~ m~ ~ ad.ess of',~ ~w ~an Se~cer, t~ address to whch pay~n~ should ~ ~de aM aw other i~omfion ~SPA req~res in ~n~fion ~ a notice of ~er of se~ci~. ~re~er t~ Lo~ is se~ced by a Loa!~ Sem~r other ~n fl~ p~c~ser of ~ Note, ~ mon~ge loan se~ng obligafiom to Bo~ower ~11 rein ~th ~ Loan Se~cer or ~ ~e~ to a s~ssor Lo~ Se~icer aM ~e not as~ by t~ Note purc~ser ~es~; o~e~ provided by t~ Note pure.set. Neit~r Bo~ower nor LeMer *~y co~eme, jo~ or ~ joi~ to ~ j~ici~ action (as ei~r an iMiddml lifi~ or t~ ~mber of a ,class) t~t afis~ from ~ other p~'s actiom pmsmm to tiffs Secu~W I~nt or t~t alleges t~t t~ o~r~p~Y ~s breac~d ~ provision of, or aw Secufi~ I~nt, ~fil s~h Bo~oWer or Lender ~ ~fified the o~er pa~ (wi~ such notice ~ven in compliame ~ the req~re~n~ of Se~ion 15) of ~h alleg~ breach aM ~orded t~ other pa~ hereto a reasomble period ~ter t~ ~ng of suc~'nofice to ta~ co~five acfiom ffApplicable Law pro. des a ti~ pefi~ w~ch m~t elap~ before m~in action e2an be ~ ~t ti~ ~fiod ~11 ~ d~med to be reasomble for pu~ses ~ ~:: 1196474 Wyo~g Mo~g~Sh~e Fmily-F~e ~die ~e U~FO~ ~STRU~ Fora 3~1 01/01 ~THE COMPL~NCE SOURCE~ INC.~ ~ Page 11 of 13 14OOlWY o~o0 .; of this paragraph. The notice of accelen~lion and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Bor~:ower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action pr°¥'sions of tt~is Section 20. 21. Hazardous Substances. A3 used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substanees,~ pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or t.9~xic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; Co) "Environmental Law" means federal laws and laws of the jurisdiction wheri~ the Property is located fl~at relate to health, safety or environmental protection; (c) "Environmental Cleanufl inch_~es any response action, remedial action, or removal action, as defined in Environmental Law;, and (d) ml "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or Permit' the presence, usel disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything 'affecting rite Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to fl~e presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the p.roperly of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal :residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consu,~mer products). Borrower shall promptly give Lender written notice of (a) any investigation, claitn, demand, lawsuit or other action by any governmental or reg::~latory agency or private party involving the Property and any Hazardous Substance or Envirorauental Law of wi:rich Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presznce, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns', or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediafion of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all neces~a?y remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lendle~r for an Environmental Cleanup. NON-UNIFORM COVENANT!i;,i Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant o~,,{agreement in this Security Instrument (but not prior to acc~eleration under Section 18 unless Applicable La;~ provides otherwise). The notice shah specify: (a) the default~ (b) the action required to cure the default; (C) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specffied in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property.. The notice shah further inform Borrower of the right to reinstate after acceleration and the Hght to bring a court action 'to assert the non-existence of a default or any other defense of Borrower to acceleration and sale.' ff the default isnot cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of aH sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted 'by Appficable Law. Lender shall be entitled to collect aH expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable:attorneys' fees and costs of title evidence. If Lender invokes the power o~' sale, Lender shah give notice of intent to foreclose to Borrow er and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shah give notice of the sale to Borrower in the ~anner 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. Tl~,e proceeds of the sale shall be applied in the following order: (a) to aH Lom~ 1~o:: 1~964~4 Wyoming Mo~gage-Singl~ Family-Fannie Mae/F~'eddie Mac UNIFORM INSTRUMENT Form 30~1 01/01 --THE COMPLIANCE SOURCE~ INC.-- ~age 1~ of ].~ 14001w¥ 0~/00 expenses of the sale, Including, but noq limited to, reasonable attorneys' fees; (b) to all sums secured by this "Security Instrument; and (c) any exces~ to the per~on or persons legally entitled to it. 23. Release. Upon payment r.~i:' all sums secured by this Security Instrument, Lender shall release this SecurityInstmmem. Borrower shall pay ~my recordation costs. Lender may charge Borrower a fee for releasing this Security Instrtun~m, but only if the fee ~: paid to a third party for services rendered and the charging 0f the fee is permitted under Applicable Law. 24, Waivers. Borrower relea~,:is and waives all rights under and by virtue of the homestead exemption laws of Wyoming.' . BY SIGNING BELOW, BorroV/i!r accepts and agrees to the terms and covenants contained in this Security Instnunent and in any Rider executed by ?orrower and recorded with it. (Seal) Printed Name: :' / ,' t4 'IA/, (Seal) Hal:vey Prin/ed Name: / [Please Complete] (Seal) · :; -Borrower : (Seal) -BOlTOWe£ [$p:!!ce Below This Line For Acknowledgment] State of Wyoming ~ , § County of L i nc.o&n § ,, , Before me the undersigned aut~:,-rity, on tiffs day personally appeared Harvey W. Ritte~ known to me (or proved to me .through a!l'~dentity card or other dooument) ' to be fl~e person(s) whose name is subscribed to. the foregoing instrument, and acknowledged to me that he/she/they executed the same for the purposes and c~imideration therein expressed. ~ C0mlY'0~ t~ sm~0~ ~ i My Commission Expires: 1-11-200zt Loan No:: 1196474 Wyoming Mortgage-Single Family-Fannie Mae/Fre~i~dle Mac UNIFORM INSTRUMENT Fmnn 3051 01/01 ~THE COMPLIANCE SOUR{:E, IN{:.-- Page 13 off3 www.canpliar~,~out ce.corn 14~01WY OB/O0 State,'of 14yomlng County of Lincoln Before me personally apl?eared Harvey 14. Ritter thts~/~:day of August, 2001 and acknowledged to me that: he executed the , , . ~same'/f) · -, . ~) Given under my hand and se~lil.. ~al~,~ ~ { CO~W'O[ ~ S'Ui[E0[ My Commission Expires: January 11, 2004 ': Attachment A: 12 [Legal Description Part of Section ~, T33N RllgW of the 6th P.M., Lincoln County, Wyoming being more particularly described as follows: BEGINNING at a point~whl, ch is N 38010, E, 1620 feet; thence' North, 25 feet; thence West, 228.feet from the .Southwest corner of sai'd Section 12; thence North 65 feet; thence West 100 feet; thence N 56o0, W, 630 feet, more or less, to the North Bank of the Salt River; thence Easterly, a'long:. said North Bank to the Intersection of Highway '89 centerline; thence Southeasterly along said centerline, 240'feet, more or less to the POINT OF BEGINNING. ' '