HomeMy WebLinkAbout87578606/11/01 13:25 FAX 1 800 667 5806 CS HEOC
..... Return To:Wells Fargo Consume g Center
P.O. Box 31557
Billings, ~ 59103:'
~eparedBy: WellsF~goBa~ :
2335 Bri~gate p~kway
Colorado Springs, CO 80920
ACCOST ~8100692832
[Sp~ce Above This Line For, Recording iData] __
MORTGAGE
DEFINITIONS
Words used in multiple sections Cf this document are defined below and other woris are defined in
Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in ':his doc Jm{mt are
also provided in Section" 16.
(A) "Security Instrument" means this document, which is dated 06/11/2001
together with all Riders to this document.
(B) "Borrower" is EDWARD C BEITZEL AND KATHY L BEITZEL, HUSB3ND AND WIFE,
BY THE ENTIRETIES
Borrower is the mortgagor under fl~.is Security Instrument.
(C) "Lender" is WELLS FARGO BANK WYOMING, NATIONAL ASSOCIATION.
Lender is a National Banking As~ociation organized and existing under the laws oJ' Unitec States of
America.
V~rYOMING-Single Family-Fannie MaelF,eddle Mac UNIFORM INSTRUMENT Form 11051 3/99
Page I uf ~
VMP MORTGAGE FOR~ -(6001~21-7281
06/11/01 13:25 FA}[ 1 800 667 5806 CS HEOC__ [~019
('~ g ~ ~' .... ..~
Lender's address is 485 WASHINGTON AFTON, WY 83110
Lender is the mortgagee under this Security Instrument.
(D) "Note" means the promissory note signed by Borrower and dated 06/11/2001. The Note s'l.~te;~ that
Borrower owes Lender TWENTY THOUSAND AND 00/100 Dollars (U.S. $20,00.0.1t0) plus int,~.rest.
Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later
than 06/11/2031.
(E) "Property" means the property '~hat is described below under the heading "Transfe]' of Rigl tts m the
Property."
(F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment :barges. and late
charges due under the Note, and 'all sums due under this Security Instrument, plus interest.
(G) "Riders" means all riders to thii? Security Instrument that are executed by Borrower. The 'Following
riders are to be executed by Borrowe]' [check box as applicable]:
[] Adjustable Rate Rider ~] Condomimum Rider [] Seco ad Homl~ Rider
Balloon Rider El Planned Unit Development Rider [-~ 14 Family 1;l.ider
[~VA Rider ~} Biweekly Payment Rider [] Other(s) [spl: [:ifyl
: LINI ~ RIDE];:
(H) "Applicable Law" means all controlling applicable federal, state and local statutes, ~rei:uhttions,
ordinances and administrative rules ~nd orders (that have the effect of law) as well as ali applicuble final,
non-appealable judicial opinions.
(I) "Community Association Dues, Fees and Assessments" means all dues, fees, assessr'ten~:s and
other charges that are imposed on Borrower or the Property by a condominium aSsociw mn, hoEaeewners
association or similar organization.
(J) "Electronic Funds Transfer" means any trans£e~ of funds, other than a transaction ori;g hated by
check, draft, or similar paper instrument, which is initiated through an electronic terminal, ~,::lephonic
instrument, computer, or magnetic 'tape so as to order, instruct, or authorize a financial i nstitutk,a to debit
or credit an account. Such term includes, but is not limited to, point-of-sale transfers, autom~tted teller
machine transactions, transfers initiated by telephone, wire transfers, and automaled clearinghouse
transfers.
(K) "Escrow Items" mean those ii. ems that are described in Section 3.
(L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds
paid by any third party (other than insurance proceeds paid under the coverages descr.bed in '~ec:ion 5)
for: (i) damage to, or destruction 6f-, the. Property; (ii) condemnation or other taking o~' all or a~:rty part of
Ire Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, rr omiss ~on,,', as to,
the value and/or condition of the Property.
(M) "Mortgage Insurance" mean~,~ insurance protecting Lender against the nonpayment of, r,r default
on, the Loan.
(Iq) "Periodic Payment" means the regularly scheduled amount due for (i) principal ~nd inte:rest under
the Note, plus (ii) any mounts under Section 3 of this Security Instrument.
{O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2~,01 et s~ ri.) and its
implementing regulation, Regulatic. n X (24 C.F.R. Part 3500), as they might be amended frown time to
time~ or any additional or successor legislation or regulation that governs the same s ~.hject matter. As
used in this Security Instrument, "RESPA" refers to all requirements and restrictions t:~at are ~mposed ia
regard to a "federally related mort!~age loan" even if the Loan does not qua[dy as a "federa'.ly related
mortgage loan" under RESPA.
I~I--61WY) I99041.01 Form :3051 319~J
JUN ~,~'"~-~-,14 38
~ ~ "':.: 1 800 ~67 5806 19
L..;,,, 5 . . :' .~
06/11/01 13:26 FAX 1 &00 667 5806 CS HEOC [~020
(P) qSueees~or in Interest ot' Borr!ower'° means any party that has taken title to the Property, whether
or not that party has assumed Borro vet s obligations under the Note. and/or this Security [nstrumv..nt.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures tolLender: (i) the repayment of the Loan, and all rem:wals, e:~.ten.sions
and modifications of the Note; and' (ii) the performance of Borrower's covenants and ~ greeme~'tts under
this Security Instrument and the h:ote. For this purpose, Borrower does hereby mortgage, ~Irant and
convey to Lender and Lender's stliCCeSsors and assigns, with power of sale, the following tilescribed
property located in the COUNTY ~' of LINCOLN :
[Type of Ii ~corfliug Jurisdiction] [Name of Recording lm i~diction]
PLEASE SEE ATTACHED LEGAL DESCRIPTION
Parcel ID Number: 32183030811:900 which currently has the :?dd::ess of
309 MADISON AVE lst~t]
2~wI'ON [city], Wyoming 83110 [zip cod~l
("Property Address"): '
TOGETHER WITH all the !mprovements now or hereafter erected on the properh,, ~nd all
easements, appurtenances, and fiXt.ures now or hereafter a part of the property. All replacements and
additions shall also be covered bs:i this Security Instrument. All of the foregoing is referred m in this
Security Instrument as the "Proper(~."
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby con,~eyed and
has the right to mortgage, grant arid convey the Property and that the Property is uner cumber?~'d, except
for encumbrances of record. Borrower warrants and will defend generally the title to the Prope 'fy against
all claims and demands, subject to ~y encumbrances of record.
THIS SECURITY INSTRUIV[ENT combines uniform covenants for rational use and
non-uniform covenants with limited variations by jurisdiction to constitute a uniform s ~curity: nstrument
covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follm ~s:
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 No':e and any
prepayment charges and late charges due under the Note. Bon'ower shall also pay funds ~::>r Escrow
Items pursuant to Section 3. Payments due under the Note and this Security Instrumet~t shall 'l:e made in
U.S. cutxency. However, if any check or other instrument received by Lender as paymmt undvr tl:e Note
or this Security Instrument is returned to Lender unpaid, Lender may require that an} or all ~.ub.,equem
payments due under the Note and this Security Instrument be made in one or mom of the following.
forms, as selected by Lender: (0 cash; (b) money order; (c) certified check, bank check, Ireasurer's
06/11/01 13:27 FAX 1 800 667 5806 CS HEOC ~021
check er casper's check, provided' ~ny sUCh check is d~wn upon an institution wh(,sc dep(~fit~.
~surcd by a federal agency, insment~ty, or entity; or (d) ~lectrouic Funds Transfer.
Payments ~c deemed received by Lender when rccciwd at thc location designat( d in the. Not
at such other location ~ may be d,~si~atcd by Lender in accordance wi~h thc notice prov]:;ions in
S~ction 15. Lender may [et~ ~y .Baymcnt or p~ial payment if the payment or paAi al payn;~nts
insuffici~n~ to bring thc ~an cu~en[.. Lender may accept any payment or p~ial payme: ~t insufl'icie, nt
br~g thc Loan culprit, without wa~x~r of any rights h~r~unde~ or p~ju&cc to its righl s to ~ef.~sc such
payment or pa~ial pay~nts [n th~ f~.~iurc, but L~nder is not obligated to apply such payments a~ Irc Lime
such pay~nts ar~ accepted, If ca~:h Periodic Payment is applied as of its scheduled due d :~t~, then
Lender nccd not pay ~terest on uno, plied ~nds. Lender may hold. such unappli~ funds until
ma~s payment.to bring thc Loan cmr~nt. IfBo~ow~r does not do so within a ~casonab]e peri~ of time,
Loner shall either apply such ~nds..0r retu~ them to Bonow~r. If not applied earlier, such f,.ud',~ w~ll
b~ applied to thc outst~ding .princiPal balance under thc Note i~mcdiatcly Prior to [omclo~,Jr~,.
offset or claim w~ch Bonow~r ~g~t haw now o~ in ~e ~c against Lender shall :'elieve
from ~g pay~nts due under ~g Note and th~s Security ~s~:ment or ~rfor~ng t~e c ovm~anl s and
a~e~ments secured by ~is Security.~ns~m~ut.
2. Application of PaymentS' or Proceeds. Except as otherwise described in t~s Sccdon 2, all
pay~nts accepted ~d appli~d by ~ndcr shall be applied in thc following order of pr~rity: (~.), interest
due under thc Nora; (b) principal duc under the Note; (c) amounts duc under Section 3 Such
shall b~ applied to e~h Periodic Payment ~ the ordc~ in w~cb it b~ame due. Any rer~inin~ amounts
shall be applied f~st to late ch~gcS, second to ~y other amours due under this Sccuritt ~stru. l:ac~t, and
then to ~educe the principal balance of the Not~.
~ Lender receives a payment from B onower for · delinquent Peri,lc Payment which ~}cludcs a
sufficient amount to pay any lat~ charge due, th~ pay~nt may be applied to thc delinquent pa~ me:~t md
~ late charge. If mo~e ~h~ one, .Periodic Payment is outstanding, Lender may apply ~y payment
r~ceivcd from Bo~ower to the repayment of ~ Periodic P~ymcnts ~f, and to thc ~xtent I;hat.. each
pay~nt c~ be paid in ~11. To thaextcnt that any excess c~sts after the payment is ;~pplied ~o fl~e full
payment of one or more Periodic Payments, such excess ~y bc applied to any ~atc cha~:gc;i duc.
Votuntaw prepayments shall be ap}:)lied first to any prepay~nt ch~gcs and then as descril:,~:d in the
Note.
Any application of payme~x~s, insurance proc~ds, or Misc~llaneous Procccd~ to prh' [:ip~l due
~dcr the Note shall no~ extend or postpone th~ duc date, or change thc amount, of ~,~ Periodic
Payments. :
3. Funds for Escrow I~ms. Bo~ower shall pay to ~nder on the day Perle dic Payments are
due under the Note, until the Note ~ paid in ~11, a sum (the "Funds") to provide 'for pa/merit cd~ ~aounts
due for: (a) taxes and assessments a:nd other items w~ch c~ attain priority over ~his S~:cufity
as a lien or encumbrance on the Prope~y; (b) leasehold pay~nts or ~ound rents on th~ Prope~'ty~ if any;
(c) premi~ for any and all insurance required by Lender under Section 5; and (d) Mangage: l~sarance
pre.ms, if ~y, or any su~ pa::~'able by Bo~ower to Lender in lieu of ~e payr~ent of Mo~gage
hs~ance pre.urns in accordance with the provisions of Section ~0. These items are calle~L "Escrow
ltems," At origination or at any time during the term of the ~an, ~nder may requir ~ ~at C~nunity
Association Dues, Fees and Assessments, if any, be escrowed by Bo~ower, ~d such dues,, fees and
assessxnents shall be an Escrow Iterx, Bo~ower s~l prompdy fl~mish to Lender all ~ otices ti' amounts
to be paid unde~ this Section. Boizower shall pay Lender the Funds for Escrow Items unh~ ~s Lender
waives Boaower's obligation to p~y ~e F~ds for any or all Escrow Ite~. L~nder may waive
Bo~ower's obligation to pay to Lender Funds for ~y or all Escrow Items at any time. Any such waiver
~y only. be in writing, h the z~ent of such waiver, Bo~ower shall pay d~ectly, when :~nd where
PB~ 4e[15
(~,-6{WY) tsso4].~ Form .:1,05'1 3/991
06/11/01 13:28 FAX 1 800 667 580§~ CS HEOC ~]022
payable, .the amo~ts due for any EsCrow Items for which pay~nt of Funds has been waived by ~nder
and, if Lender requires, shall furnish ':;~o Lender receipts evidencMg such payment within ~uch tim ~: p~;fiod
as Lender may requke. Bo~ower's obligation to ~e such payments and to provide rece i.pts shall for all
p~oses be deemed to be a covenan:t and a~ee~nt contained in this Secmity hs~me:;t, as th~; phrase
"covenant and a~eement" is used ~ Section 9. ~ Bogower is obligated to pay Escrow Items directly,
pursuant to a waiver, ~d Bo=ower ~hils to pay the mount due for ~ Escrow Item, Lender may ,~xercise
its rights under Section 9 and pay such amount and Bo~ower shall then be obligated ~der Sec :ion 9 to
repay to Lender ~y such mount. Lender may revoke the waiver as to any or all Escrc~w Items at any
time by a notice given in accordanc~ with Section 15 and, upon such revocation, Bogower shall Fay to
Lender all Funds, and in such amoufits, that are then requked ~der ~s S~tion 3.
Lender my, at any ti~, collect and hold Funds in an amount (a) sufficient to pe~t Lender to
apply the Funds at ~e ti~ sp<ified under ~SPA, and (b) not to exceed the m~imum amoum a,l,mder
can requke under ~SPA. ~nder::~hall estimte ~e mount of Funds due on ~e basis of cu:rt~nl, data
and reasonable estimates of expe~i8it~es of hture Escrow Items or othe~ise in ~ccorda ';ce with
Applicable ~w.
The Funds shall be held tn an institution whose deposits ~e insu~d by a federal a~ency,
ins~umentaliW( or entity (Mclu~ng~Lender, if Lender is ~ institution whose deposits ~re so in~;ured) or
in any Federal Home Loan B~k. Lender shall apply the Funds to pay the Escrow Items no later ~an
tim specified under ~SPA. Lender shall not charge Bo~ower for bolting and ap[lying tl',e; Funds,
annually analyzing the escrow acc::,~t, or vefi~ing the Escrow Items, unless ~nder pays '!lorrower
interest on the Funds and Applicabl~ Law pemts Lender to make such a ch~ge. Unless an agr~;ement is
made in writing or Applicable Law ~equkes interest to be paid on fhe Funds, Lender she tl not be; required
to pay Bo~ower any interest or e~ings on the Funds. Bo~ower and ~nder can a~ee i, writing,
however, that interest sh~l be paid on the Funds. ~nder shall give to Bo~ower, without charge, an
~nual accounting of the Funds as reqgired by ~SPA.
N there is a su~lus of Funds held in escrow, as defined under ~SPA', ~nde': shall :~ccount to
B ogower for the excess ~nds M accordance with ~SPA. If there is a sho~age of F~t [s held ia escrow,
as defined under ~SPA, ~nder s~.all notify Bonower as required by ~SPA, and Bon'ower sl' all pay to
Lender the mount necessary to ma~ up ~e sho~age in accordmace with ~SPA, bo': in no .more th~
twelve mon~ly payments. ~ there, is a deficiency of Funds held in escrow, as defin,d unde:' ~iSPA,
Lender shall notify Bo~ower as [equked by ~SPA, ~fl Bom>wet shall pay to L~;nder th~ amo~t
necessau to ~e up the deficie~;:tcy in accord~ce with ~SPA, but in no more lh~ 15. monthly
payments.
Upon payment in full of t:~'ll sums sec~ed by t~s Security ~stmmnt, ~nder shall promptly
refund to Boaower any Funds heldby Lender.
4. Charges; Liens. Bo~ower shall pay all t~es, assess~nts, charges, fine~, and ir'~positions
altributable to the Prope~y w~ch c~ a~ain priority over ~is Security hstmment, leas{~hold pay~mts or
ground rents on ~e Property, if any, and Co--unity Association Dues, Fees, and As sessmer.ts, if any.
To the extent that these items are.Escrow Items, Bo~ower shall pay them in the ~mner provided in
S~tion 3.
Bo~ower shall promptly disch~ge any lien which has priority over this S{~curity 'Instrument
unli~ss Bo~ower: (a) a~ees in writing to the pay~nt of the obligation secured by th~: lien ir~ a manner
acceptable to Lender, but only so ~6ng as Bo~ower is peffo~ng such a~ee~nt; (b) t ontests ~e lien in
good froth by, or defends against e~force~nt of the lien in. legal proceedings which i~t Lende '~s opinion
operate to prevent the enforcemem of the lien while those proceedings ~e pending, [ ut only until such
proc~dings are concluded; or (c) ~ecures from the holder of the lien an a~eement sati ~hcto~/to Lender
subordinating the lien to t~s Secufi~ hs~nt. If ~nder dete~nes that any part of the ]:'mpe~y is
;:~'
Ini~:
, ~,sof~s Form :!{O5'l 31g~
06/1,1/01 13:28 FAX 1 800 §§7 §~06,',~ CS HEOC ~023
subject, to a lien w~ch c~ attain priority over this Security Instrt~ent, ~nder may give Bo:r~'o~er a
notice identifying the lien. Within !0 days of the dam on which that notice is Bven, Bono~,~r shall
satisfy the lien or take one or more of'[he actions set fo~h a~ve in this Section 4.
Lender may require Bo~owe~ to pay a one-ti~ charge for a real estate tax vedficati~n un. or
repo~g service used by ~nder in connection with this Loan.
5. Property Insurance. B~ower shall keep the improve~nts now existing or hereafter
erected on the Prope~y ins~ed a~ainst loss by fire, hazards included within the leto "e ~tteaded
coverage," and ~y o~er haz~ds inci3ding, but not l~ted to, eaffitquakes and floods, for whch Lender
requires insurance. This insut~ce shall be ~tmned in the amounts (including d~uctible lc,, els) and
for the periods that Lender requkea;~ What Lender requires p~suant to the pleceding sente~:.ces can
change dur~g the tern of ~e Loan. The instance c~ier providing ~e instance shall be cl.>sen by
Bo~ower subject to Lender's right to disapprove Bo~ower's choice, which right shall-mt be ~ }[ercised
unreasonably. Lender may req~re B°~ower to pay, in connection with this Loan, either: (a) a :m~-ti~ne
charge for flood zone dete~nation; ce~ification and ~acMng se~ices; or (b) a one.time charge for
flood zone deter~nafion and ceaification se~ices and subsequent charges each tim~ rema[:pings or
si~l~ changes occur w~ch reasonably ~ght affect such detemnation or ce~ification Bono ater shall,
also be responsible for the payment 9f any fees imposed by the Federal Emergency Man age~n.: Agency
in connection with the review of any flood zone dete~nafion resulting from an objectien by Bc,'rower.
If Bonower f~ls to ~intai/~:any of ~e coverages described above, Lender may obtain i:asurance
coverage, at Lender's option and B!~:~ower's expense. Lender is under no obligation to purclaase any
particular type or mount of coverage. Therefore, such coverage shall cover Lender, but ~ghl. or ~ght
not protect Bo~ower, Bonower's eqtfity in the Prope~y, or the contents of the ~ope~y~ against an, t risk,
hazard or liability ~d ~ght providey ~eater or lesser coverage ~an was previously in :ffect. ~3orrower
ac~owledges that the cost of the i~.~ance coverage so obtained ~ght si~ificantly e~ceed the cost of
insurance that Bo~ower could have'obtained, ~y amounts dish. seal by Lender ureter t~s Section 5
shall beco~ additional debt of Bomawer sec~ed by this Sec~ity hstmment, These amounts ~hall bear
interest at the Note rate ~om the d:~.te of disb~se~nt ~d shall be payable, wi~ such inte~:~:st, upon
notice from Lender to B0~ower requesting payment.
All insurance policies required by Lender ~d renewals of such policies sh~tll be ~nbject to
Lender's right to disapprove such 'policies, shall include a st~da~ mo~gage clause, and slmll name
Lender as mo~gagee an~or as an additional loss payee. Lender shall have the hght to hold th~ policies
and renewal ce~ificates. If Lender requires, Bo~ower shall promptly give to Lender ail recei[:::s c,f paid
pre.urns and renewfl notices. If,Bo~ower obtains any fo~ of insurance coveralge, not ~>therwise
required by Lender, for de.ge to, :~r des~ction of, the Prope~y, such policy shall i aclude ~ stand~d
mo~gage clause ~d sh~l nme Lender as mo~gagee ~d/or as an additional loss payee
h the event of loss, Bo~ower Shall give prompt notice to the; insurance cagier an, l Lender. Lender
~y ~ke proof of loss if not made promptly by Bo~ower. Unless Lender and Bo~ow~:r otherwise, agree
in writhg, any ~surance proceeds;whether or not the ~d~rlyk~g ~surance was ret laired b'/Lender,
shall be applied to restoration or xepair of the ~openy, if the restoration or repai" is ecoaor~cally
feasible and Lender's security is not lessened. During such repak and restoration pe:'iod, Lel~.der shall
have the right to hold such insur~ce proceeds until Lender has had an oppo~uniti to impect such
Prope~y to ensure ~e work has~ been completed to Lender's satisfaction, provided that such iuspection
shall ~be ~de~aken promptly. Lender ~y disb~se proceeds for the repairs and rest~ration i'r~ a single
payment or in a series of pro~ess P~ayments as the work is completed. Unless an a~,:e~nt ' s made in
writing or Applicable Law requires interest to be paid on such insurance proceeds, Lmder shall not be
requked to pay Bo~ower any interest or emings on such proceeds. Fees for Public ~djuster~:, or other
third pmies, retained by Bonowet ~hall not be paid out of the insurance proceeds an~l shall l:~e the sole:
06/11/01 13:2~ FAX I 800 667 5808: CS HEOC ~024
obligation of B~ower. If the restoration or repair is not economically feasible or L~rnder's
,.,ecunty
would be lessened, the insurance i~tocee~s shah b~ applied to the sums secured by this ~' '
hs~ument, whether or not then due, ',with the eacess, if any, paid to Bo~ower. Such insx [rance proc~:eds
shall be applied in the order provided for in Section 2.
~ Bo~ower abandons ~e Prdpe~, Lender may file, negofi~te and settle ~y ava dable ir~:~anmce
claim and mlated~tters, ~ Bo~oWer does not respond wit~n 30 days to a notice from Lender tha'~ the
~surance c~ierhas offered to sett~e a cla~ then Lender ~y negotiate and settle ~}~e clai~. Th~
30-~y period will begin when the ~otic~ is given. In either event, or if Lender acqui~es the
under Section 22 or oth~ise, Bo~c~w~r hereby assi~s to Lender (a) Bo~ower's fights [o any ir.s~ance
proc~ds in an amount not to exce~dihe ~ounts unpaid under the Not~ or t~s Security hstmm,mt: and
(b) any other of Bo~ower's rights (o~er than the fight to say mf~d'of unearned pr.~ums paid by
Bo~ower) ~der all insurance polic~:s covering the Prope~y, insofar as such rights am ~pplicabh~to the
coverage of the Pro.ny. Lender ~y us~ the insurance proceeds either to mpa~ or restore th~
or to pay amounts unpaid under ~e Note or this Sec~ity ~str~ent, whether or not then due.
6. Occupancy. Bo~ower s'~all occupy, establish, and use the Prope~y as BmTower's 5"dncipal
residence wit~n 60 days a~er the e~:ecution of t~s Security hs~ment and shall contin ~e to oc~;upy the
Prope~y as Bo~ower's principal r~sidence for at least one y~r after the date of occupanc?~ unless
Lender o~erwise agrees in writing, which consent shall not be ~reasonably witl~held, c'r ~nless
extenuating circu~tances exist which are beyond Bonow~r's conW31.
7. Preservation, Maintenance and Protection of the Property; Inspections. Bono'yet shall
not dcs~oy, da~ge or impair the ~ope~y, allow the Prope~y to deteriorate or com~tfit was.e: an the
Propegy. ~ether or not Bo~ower is residing in the Prope~y, Bo~ower shall maintah the P~':~pe~y in
order to prevent the Prope~y from deteriorating or decreasing in value due to its condition. U~less it is
dete~ned p~suant to Section 5 that rep~ or restoration is not ccono~cally feasibk:~ Bo~,~er shall
promptly repair the Propeay if da~ged to avoid f~her detefitoration or da~ge. If ins~.~rance or
conde~ation proceeds are paid in co~ection with da~ge to, or the ta~ng of, the Pr:,pe~y,
shall bc responsible ~r rep~g at restoring the Property only if Lender has released l~roc~d~ ~' such
p~oses. Lender may disbu~e pro~:~eeds for the repairs and restoration ~ a single payment or i.~ a series
of progress payments as the work' is completed. If th~ insurance or condemnation proceeds; rare not
sufficient to repair ox restore the ?'ropegy, Bo~ower is not relieved of Bo~owcr's c,bligatic:~a f,~r the
, completion of such repa~ or reatorff.lion.
Lender or Hs agent may ~ke reasonable en~es upon and inspections of thc Propeay, If it has
r~sonable cause, Lender may insg,ect the interior of ~e improvements on the Property. Lc:~.dcr shill
give Bonower notice at ~e time Of or prior to such an inmrior inspection spccify~[: such ~r::asonable
~aus~.
8. Borrower's Loan Appl~:~afion, Bo~ower shall be in default if, d~ing the Lo~ a ?plication
process, Bo~owcr or any persons Or entities acting at the d~:tion of Bo~ower ot with Borrower's
~owledge or consent gave materially false, ~sle~ing, or inacc~ate info~ation or stat,:..ments to
Lender (or failed to provide ~ndt:r with ~tefial info~tion) ~ connection with · :. Loan. Material
representations include, but are nv~ l~ted to, representations conce~ng Bo~ower's occupat~cy of the
Pro~e~y as Bo~ower's p~cipal re:;idence.
9. Protection of Lender's Interest in the Prope~y and ~gh~ Under t~s S~cufity
Instr~ent. If (a) Bo~ower fails to pe~o~ the covenants and a~eements contained in ~[~; S,:c~ty
~s~nt, (b) there is a legal proceeding that t~ght si~ificanfly affect Lender's inter, st ~ th ~: Prope~y
an~or rights under this Sec~ty hstr~nt (such as a procee~ng in ba~u'p:cy, probw:e, for
conde~ation or forfeiture, for et~force~nt of a ~en which may attain priority .'vet th~, S~c~ity
hs~ment or to enforce laws or regulations), or (c) Bo~ower has abandoned the Prope~y, tl'~,:n Lender
~)~-6{WY) Form :!;051 3/99
{99041.01
0§/11/01 13:30 FAX 1 800 667 5806 ' CS HEOC [~025
~y do~ ~ pay for w~at~v~r is maSo~abl~ o~ ~ppmpriat~ ~o prm~t ~nd~r's imprest in fl~' Prop :.~y a~d
fi~ts und~ t~is S~c~ity ~stm~nt~ incl~d~g Protecting ancot ~ss~ssi~g th~ val~ of tl m ~op~:~xy.. and
s~cufi~g and/o~ mpaffing th~ Prop~y. L~nd~'s actions ~an include, b~t am not li~t~d to; (al p~ying
~y sum~ s~d by a li~n which has priority o~r t~s S~cufity Ins~m~nt; (b) app~in.g in c~:.nm and
(~) payin~ reasonable attorneys' f~s to pmt~ct its i~mmst i~ th~ Prap~y ancot r~g~ts u~: :~r this
S~u~ity ~tm~nt, including ils s~cumd position ~ a ba~ptcy p~di~g. S~cu~ ng the P'mp~rly
in~lud~, b~t is not li~t~d to, ~nt~fing th~ ~op~y to mak~ mpa'rs, chang~ locks, mp~ ac~ or 'board
doo~s ~nd windows, d~ water from pip~s, ~liminat~ building o~.oth~r code violatior~s or d.,ngcrous
conditions, ~nd ha~ utilities tumid :o~ or off, Althou~h ~nd~ ~my tak~ ~tion u~&r this
L~nd~ do~s ~ot h~wto do so and ~ not under any du~ or ob~gafion m do so. It ~s ~m~dth~,:
in~rs no liability fo~ not ta~ng any ?~r all actions authorized ~d~r t~is S~fio~ 9.
Any amaums disb~s~d by ~nd~ ~nd~r t~s S~ctio~ 9 shall b~o~ additional d~bt of B~n'ow~r
s~cu~d by this Se~ty ~s~m~m~ Th~s~ amounts s~all b~r inter, s1 at th~ Note ~at~ from th~.~ ~t~ of
d~shu~s~m~m and shall b~ payabl~,/~ith such interest, upo~ notic~ from ~nd~r to Bo~row~
payment.
If t~s S~fi~ ~s~m~t ~;s o~ a l~as~hold, Bo~ow~r shall comply with ~1 th~ pm~isi(~ns
l~as¢. If Bo~ow~r acquires f~ titl~ ;:'~o th~ Prop~y, th~ l~s~hold and th~ f~ titl~ shal~ not m~;g~
1~. M~tg~g~ In~ur~n~. ~f L~nd~r mquff~d Mo~gag~ ~sura~c~ as a co~diti, m of m~ng the
~sum~ that ~mviously provided :'Such insura~c~ ~d Bo~ow~ was mquim~ to mak~
d~sign~t~d p~ym~nts towed the p:m~u~ for Mo~gag~ ~su~n~, Bo~owe~ shall ~ay the premiums
r~quimd to obmi~ co~mg~ s~bstamially ~quiwl~nt to th~ Mo~g~.g~ ~ura~c~ ~mvio~ sly in
cost substantially ~quival~nt to th~ cast to Bo~ow~r of th~ Mo~gag~ Insuranc~ pm~iom,ly in ~f:i~, from
~ al~mat~ mo~gag~ ~s~r s~k.,ct~ by L~nd~r. If subst~fially ~quiv~t M~.~gag~
cov~rag~ is ~ot ~w~abl~, Bo~ow~r shall contour' to pay to L~nd~r th~ amount ff th~ ,cp~at~ly
d~si~at~d ~aym~s ~a~ w~m due. when ~ insur~c~ cov~rag~ c~ased to b~ in ~fl~t. L~ader will
accept, use and retain th~se payments as a non-m~ndable loss reserve in lieu of Mcngagc Insurance:
Such loss res~ s~ll be non-refundable, notwi~standing th~ fact that the Loan is ~fitimate,y paid in
~I1, and ~nder shall not be required to pay Bo~ow~r ~y interest or earnings on ~,uch
L~nd~r can no longer mquffe loss mserw payments if Mortgage Insuranc~ coverage (in the ar~;ount and
for th~ period that Lender requires) provided by an ins~er selecmd by Lender again b~co~s available,
is obtained, and L~nder mquff~s separately desi~ated pay~nts ~oward ~e pre.urns for Mcagage
~suranc~. If ~nder requk~d Mortgage ~s~c~ ~ a condition of ma~ng the Loan ;md Borrower was
required to m~e s~paratcly desi'~ated payments toward the; pm~ums for Mortgage h~surance.
Bo~ower shall pay the pre~u~ required to ~intain Mo~gage Insurance in cffec :, or to provide a
non-refundable loss reserve, until the Lender's requirement for Mo~gage ~su~nce ~nds in a~:cordance
with any wfi~n ageement betwt~n Bonower ~6 ~nder pr°viding for such terminatio'~ or until
t~nation is required ~Y App~cable Law. Nothing in fids Section 10 affects B o~ower's ob li.gation to
pay interest at the ram provided in' ta~ Note.
' Mo~gage Instance reim~:~.rses Lender (or any entity that purchases the Note~ for cer:ain losses
it may ~cur if Boffower does no.~ repay the Loan as agreed. Bo~ower is not a part7 to the Mn~gage
~sBrance.
Mo~gage insurers evaluaie the~ total risk on all such insur~ce in force ~om time tc time,
may enter into a~eements wi~ (>~her paaies that shoe or modify the~ risk, or reduce loss ~:s. These
a~eements are on te~s and conditions that are satisfacto~ to the mortgage insurer ~nd the c.~er party
JUN
~:: · .. ~, 1 1300 667 5(306 25
06/11/01 1'3:31 FAX i 800 667 5806, CS HEOC [~02§
(or p~ies) to these a~ee~nts. T[~se a~eements may requke the me.gage insurer to ~e ]?ayments
using 'any source of ~ds that th~ me.gage insurer may have av~lable (which ma~ include funds
obtained flora Me. gage hsur~ce
As a result of these a~ments, ~nder, any purchaser of the Note, another inst:'rer, any
reinsurer. ~y o~er entity, or any ~:,ffiliate of any of the foregone;, ~y receive (directly or indirectly)
amounts that derive from (or mght~be ch~actefized as) a poffion of Bo~ower's payments for Mortgage
hsurance, in exchange for shmng er medicine the me. gage insurer's risk, or ~educinl[ losses ~ such
agee~nt provides that an affiliate?f Lender takes a shoe of the insurer's risk in excl.~ge fo~' a shoe
of the pre~u~ paid to the insurer~:~e ~angement is often te~d "captive re~surance ," Fu~her:
(a) Any such agr~ments~:.will not affect the amoun~ flint Borrower has allreed t* pay for
Mortgage Insurance, or any other terns of ~e Loan. Such agreemen~ will t~ot inc~',~as~ the
amount Borrower will owe for I~ortgage Insurance, and they will not entitl~ Borrower jo any
refund. ~'~
(b) Any such agreements will not affect the rights Borrower has - if any -, w~th r~sp,~ct t~
th~ Mortgage Insurance under ~e Homeowners Protection Act of 1998 or any olher la,~,,~ These
righ~ may include ~e right to receive ceftin disclosures, to requ~t and ob~in ca neellafi, lm of the
Mortgage Insurance, to have the .Mortgage Insurance re.hated automatically, an ~or to ~:eceive a
refund of any Mortgage Insuranfe pre.urns that were unearned at the time of s ach em' nel'lafion
or ter~nation,
11. Asslgment of Miscellaneous Proceeds; Forfeiture. MI Miscellane{~us Pro~:eeds are
hereby assi~ed to and shall be paid to Lender.
If the Propeay is dmged~:~ such Miscellaneous Proceeds shall be applied to re~ toratior or repair
of the ~ope~y, if the restoration o:~[ rep~ is economically feasible and Lender's securil y is no't les ~ened.
During such repair and restoraticn period. Lender shall have lhe right to hold such Misc,~ll~.neous
~oceeds until Lender has had an: oppo~unity to inspect such Property to ensue t~e work has been
completed to Lender's satishctionlprovided ~at such inspection shall be ~deaaken i~romptly~ I~nder
may pay for the repairs ~d mstora:~ion in a single disbursement or in a series of pto~e~s paym,:',nts as the.
work is completed. Unless an a~eement is made in writing or Applicable Law requ .res in~::est to be
paid on such Miscellaneous Proc~eds, Lender shall not be r~uired to pay Bo~ow~:r any iaterest or
emings on such Miscellaneous F:roce~s. If the restoration or repair is not econon~cally f:,:asSble or
Lender's security would be lessene,d, the Miscellaneous Proc~ds shall be applied to th{: su~ s,::cured by
this Sec~ity ~stru~nt, whether:~:or not then due, with the excess, if any, paid to ~Bo~o~[,~r. Such
Miscellaneous proceeds shall be a~:~plied in the order provided for in Section 2.
~ the event of a total ta~5.ng, des~uction, or loss in value of the Prope~y, lhe Miscellaneous
Proceeds shall be appli~ to ~e s~ secured by t~s SecuriW Instm~nt, whether or not thet]~ due, with
the excess, if any, paid to Bo~owe?.
h the event of a paaial t:~,~ng, destruction, or loss in value of the Prope~y in w~ch the
~ket vMue of the ~ope~y ~ediately before the pa~ial t~ng, destr~fion, or los:; in vah.,e is equal
to or greater ~an the mount of the sm secured by t~s Security Instrument i~rliately ~efore
paaial tang, destruction, or loss :in value, unless Bo~ower and Lender o~erwise ag:ce in v, rifiag, the
su~ secured by this Security hsttument shall be reduced by ~e amount of ~e Miscellaneou~ Proceeds
multiplied by ~e following fracti~on: (a) the total amount of the sm secured in~ediately I:,efi~re the
pmial tahng, des~uction, or lo~s in value divided by (b) fl~e fair mar~t value of thc Propeay
immediately before the pa~ial t~:king, destmction, or loss in 'value. ~y balance shall t~e p~d to
Bo~ower,
In the event of a paflial t~ng, des~ction, or loss in value of the Prope~y in which lhe fair
market value of the Prope~y ~ediately before the p~ial t~ng. destruction, or less in w~ lue is less
Page 9 of 1-~
~--6IWYI tgs04).01 Form :i~051 3199
JUN 11 '01 14:44 1 800 6~? 5@06
08/11/01 14:34 FAX 1 800 687 5806,'I CS HEOC ~]004
4.1 0
, than the amount of the sums socked i~ediately before ~e pa~ial t~ng, dest~ctio:~, or 1o~ ~ ir~ value,
unless Bo~ower and Lender otherwise a~ee in wfitEg, the Miscell~eous ~oceeds ',;hall be ,pplied tc~
the. sums secured by ~s Security instrument whether or not the su~ are then due.
If the Propeay is abandm~ed by Bo~ower, or if, after notice by Lender to go~ow,:r that the
Opposing Pa~y (as defined in the ~ext sentence) offers to ~e tm awed to settle a cla~ for damages,
Bo~ower fails to respond to Lende~ within 30 days after the date the notice is given, Le rider is ~tuthofized
to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Propen2, or to
sums secured by this S~urity hsd:inmont, whether or not ~en due. "Opposing Pa~>" mean;; thx t~d
paay ~at owes Bo~ower Misceli6neous Proceeds or tffe p~y aghnst whom Bonower has .~ right of
action in reg~d to Miscell~eous Pi:Oceeds.
Bo~ower shall be in dehU~:t: if ~y action or proceeding, whether civil or cri~aal, is b~:gun ~at,
~ Lender's jud~ent, co~d
result.m forfeiture of the ProPe~y or other material impairment ~1' Lender's
interest in ~e Prope~y or rights um;~:er this Security ~stm~nt. Bo~ow~ can cure such a def~ml[ md, if
acceleration has occmed, reinstate~as ~tovided ~ Section 19, by causing ~e action m procee~:in[: to be
dis~ssed with a ruling that, in ~i~er s:jud~ent, precludes foffeit~e of the Propeay or other' material
~mpax~ent of Lender's interest in ~,~ Property or rights ~der this Security Ins~ument. The pr~meeds of
any awed or cla~ for damages ;~hat ~e at~butable to the impa~nent of ~nde~'~t intex~:st in the
Prope~ ~e hereby assi~ed and sl~dl be paid to Lender.
A~ Miscellaneous ~oceed/5?that ~e not app~ed to restoration or repair of the Propen,,' s~all be
applied in the order provided for in Section 2..
12. Borrower Not ReleaserS; Forbearance By Lender Not a Waiver. Extension of th~. time for
pay~nt or modification of amo~iZation of the sums secured by this Security hstrument g~'fmt~d by
Lender to Bo~ower or any SuccessOr in Interest of Bo~ower shah not operate to mica ;e the Ii ~bility of
Bo~ower or any Successors in ~tierest of Bo~ower. Lender shdl not be requin~d to c~:,~aence
proceedings against any Successor in ~terest of Bo~ower or to refuse to extend tim~: for pa?ment or
otherwise modi~ amon~ation 0f the sums secured by this S~urity hs~ment by reasoa of any demnd
made by the original Bo~ower or any Successors in hterest of Borrower. ~y forbearaace by Lender in
exercising any right or remedy including, without li~tation, ~der's acceptance of pay rnents fi'om t~d
persons, entities or Successors in hterest of Bo~ower or in amounts less than the amora tt then ~:,e, shall
not be a waiver of or preclude the exercise of any right or remedy.
13. Joint and Several Li bility; Co-signers; Successors and Assigns Bo:md~ t[onower
covenants and a~ees ~at Bo~ower~
obligations ~d liability shall be 'oint and
~ff~o~er ~ ~O-Sl~S this Sec~ity ~stmment but does not e ..... ,~J,~ ~_. s~v~ral..Ho~:,veL a~y
~o-slgnlng tins ~ecurim Instrument .~ ..... ' ....... -- ~ute [a co-s~er%: (a) is
-~ :~my to mngage, ~nt and convey the co-si~er's iatere~.i in the
~ope~ under the te~s of this Sec:~ity Insment; (b) is not personally obligated
secured by ~is Sec~ity hs~ment;':and (c) agrees that ~nder and ~y other Bonower can ~l~,~e to
extend, modi~, forbear or make any 'a.ccomodations with reg~d ta the tern of this Security h:~lxument
or ~e Note without the co-signer's cel~.sent
Subject to the provisions of.Section 18, ~y
B , . . ~ Successor in hterest of Bonow~::r who ~ss~es
o~ower s obhgauons under t~s Sec~xrity hstmment in ~ting, and is approved by ~n let, sh,~ I obtain
all of Bo~ower's rights and benefits ~i~ader t~s Secufi~ hs~ment Bonower shall not h~ relea,:eg [rom
Bo~ower's obligations ~d liabihty ixader tbs Security ~s~ment unless Lender a~ees to suc[:~ release
in w~ting. The covenants and a~ee?ents of this Security hstrummt shall bind (excep: as
Section 20) ~d benefit the successors and assigns of Lender.
14. Loan Charge. Lender may charge Bo~ower fees for services peffo~ed in ,onnect),:m ~ith
Bo~ower's dehult, for the pu~ose el prolecting Lender's interest in the PropenY and r ghts unit:er this
Sec~ity hstmment, including, but n(~i: li~ted to, attorneys' fees, prope~y inspection and valuafi :m i~es.
t: m,m 30ti,'l :1/99
1 S00 667 5806 04
08/11/01 14:35 FAX 1 800 667 5806.~,.i CS ItEOC ~005
h regard to any other fees, the ;~bsence of express authority in t~s Security Instmmnt
specific fee toBo~ower shall not ~[~ie cons~ued as a pro~bifion on the charging of such fee. 1.,ruder
not charge fees ~at are expressly p~mhibited by t~s Security ~sm~nt or by Applicable Law.
If the Loan is subject to}~a law whch sets ~imum 1o~ ch~ges, and t~at law is finally
~tc~reted so that the interest or ~';~er loan ch~ges collected or to be collected in cr,nnecfio~ ~ith the
Lom~ exceed the pe~tted li~ts}/then: (a) any such loan ch~ge shall be reduct:d by tl:~e t.mount
necess~ to reduce the charge to tl'~e peered li~t; and (b) ~y su~. akeady collect~:d from Bo~ower
w~ch exceeded pe~tted ~ts w~[ll be.refunded to Bo~ower. Lender ~y choose tc make tiffs rehnd
by reducing the principal owed under ~e Note or by ma~g a direct payment to Bon:,wer. ]1~ a refund
reduces principal, ~e reduction wi~il be ~eated as a pa~ial prepayment without any prepayment .:harge
(whether or not a prepay~nt ch~ge is provided for under the Note). Bo~ower% acce[tance o:: any such
refund ~& by direct payment to' Bo~ower will constitute a waiver of ~y right ot action []o~owe~
~ght have arising out of such over~h~ge.
15. Notices. All notices.~ given by Bo~ower or Lender ~ connection ~ith ~s S~:curity
~s~ument must be in ~iting. ~y. notice to Bo~ower in co~ecfion with this Securit- hstmr,~.ent shall
be deemed to have been given to B0~ower when roiled by first chss mail or when ac{aally delivered to
Bo~ower's notice ad,ess if sent by' other me~s. Notice to any one Bo~ower shall c(,nstitute notice to
all Bo~owers unless Applicable L~w expressly requkes otherwise. The notice address sh,.ll he the
Propeny Address unless Bo~owe~{ has desi~ated a substitute notice ad&ess by rotice tr, Lender.
Bo~ower shall promptly notify Len.dcr of Bo~ower's change of address. If Lender spe('ifies a
for reporting Bo~ower~ change of ~{d&css, then Bo~ower shall only repo~ a change o:, addres ~; through
· at specified procedure. There :~my be only one desi~ated notice ad&ess unrer this Se:~ity
hstm~nt at any one time. ~y nd~ice to Lender shall be given by delivering it or by mailing ~. b2v first
class mail to Lender's address state(i herein unless Lende~ has desi~ated another add :ess by eot[ce to
Bo~ower. ~y notice in co~ecti,:~,n with ~is Sec~iw ~s~ument shall not be decried to Mve been
given to Lender until actually reccii,~?ed by Lender. If any notice r~uired by this Seem ity ~sB't~ant is
also requir~ under ApPlicable La~:~,, the Applicable Law requirement will satisfy tie co~e ~:ponding
requirement under ~is Security hsm. iment. ~
16. Governing Law; Sever~ability; Rules of Construction. This Security Instrumedl: shall be
governed by federal law and ~e lan, of the j~isdiction in which the hopeny is locater. All ri.ghts and
obligations contorted in ~is Secu;ity Instrument ~e subject to any requirements amt l~t~dons of
Applicable Law. Applicable Law m~ght explicitly or implicitly allow the pmies to agr(.,e by coatmct or
it ~ght be silent, but such silence s~-:2~all not be construed as a prohibition against a~eement by ::on,act.
h the event that any provision or clause of t~s Scc~ity hs~ument or the Note conflicts with Al?plicable
Law, such conflict shall not affect other provisions of this Security Instrument or the N(.te which c~tn be
given effect without the conflicting p~:ovision.
As used in this Security Instrument: (a) words of the ~sc~ine gender shall me~ and include
comesponding neuter words or words of the fe~nine gender; (b) words in ~e singular shall rr.~:an and
include the pl~al and vice versa; and-(c) the word "may" gives sole discretion wi~out any obli~'ation to
take any action.
17. Borrower's Copy. Bo~ower shall be given one copy of the Note ~d ,>f this ~:, c'anty
~smment. '~e '
~ 18. Transfer of the Property or a Beneficial In,rest in Borrower.' As used in this Section 18,
"Interest in the Prope~y" me~s ~y ~Cgal or beneficial interest in the Prope~y~ including, but nol lindted
to, ~ose benefici~ interests ~sfe~ed in a bond for deed, con~acI for deed. install~ ~: sales ,:'on':ract
or escrow a~ee~nt, the intent of which is the tr~sfer of title by Bo~ower at a f~tum d~.te to a
purchaser.
F~rm 30fi,'l :1199
06/11/01 14:31] FAX 1 800 667 5806 CS HEOC ~00§
' 412
Borrower is not a natural I t in Borrower is sold or transferred) withou
Lender's prior written consent, Lela':ler may iequire immediate payment in full of all su ms secu::ed by thi,,.'
Security Instrument. However, thlig'!option shall not be exercised by Lender if such ex~::rcise is prc.hibited
by Applicable Law. :. :~
If Lender exercises this o'Piion, Lender shall give Borrower notice of acceleration. The notice!
shall provide a period of not les:~ !than 30 days from the date the notice is given in accorl:ance with
Section 15 with/n which Borrowe¥.must pay all sums secured by this Security Instrur~ent. If Bc.rrower
falls to pay these sums prior to thi:; expiration of this period, Lender may invoke any r.:medies permitted
by this Security Instrument withou!ll ~l~rther notice or demand on Borrower.
19. Borrower's Right to '.Reinstate After Acceleration. If Borrower meets {:ertain ~ :mditions,
Borrower shall lmve the right to ha!~e enforcement of this Security Instrument discontinued a: imy time
prior to the earliest of: (a) five da!~i!;: before sale of the Property pursuant to any powe~ of sale co[~tained
in this Security Instrument; (b) such other period as Applicable Law might specify for fie tern: ination of
· : [ /.~pays Lender all sums which then would e
Instrument and the Note as if no a~'c'e ~i,,,, ho.~ ............ b due under th~ S{ cun~
.. ler ........... ,.,.m~u; [oj cures any default of an k' other "or'nan
or agreements; (c) pays all expen.~:es incurred in enforcing this Security Instrument, irmludini:::, l~ut not
limited to, reasonable attorneys' I~tis, property inspection and valuation fees, and other fees in,:uned for
the purpose of protecting Lender's interest in the Property and rights under this Securit? Instrumer.t; and
(d) takes such action as Lender may reasonably require to assure that Lender's interest ir the Pr,::i[~erty and
rights under this Security Instrument~ and Borrower's obligation to pay the sums secureii by thi!; Security
Instrument, shall continue unchanged. Lender may require that Borrower pay such re :nstaten',~mt sums
and expenses in one or more of the Zbllowing forms, as selected by Lender: (a) cash; (b) mor~,.-,y arder;
(c) certified check, bank check, trea~mrer's check or cashier's check, provided any such check is drawn
upon an institution whose deposits ::~e insured by a federal agency, instrumentality or entir'y; or (d)
Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrumen-: and ol:,ligations
secured hereby shall remain fully effective as if no acceleration had occurred.
reinstate shall not apply in the case ot' acceleration under Section 18. However, thi'.~ ril[ht to
20, Sale of Note; Change i~f Loan Servicer; Notice ol! Grievance. The Note or ~ l:.artial
interest in the Note (together with this Security Instrument) can be sold one or more tin,es without prior
notice to Borrower.. A sale might re.suit in a change in the entity (known as the "Loan Servk ::r"} that
collects Periodic Payments due Under ,the Note and this Security Instrument and pefform~ other ~mrtgage
loan servicing obligations under the Note, this Security Instrument, and Applicable law. Tl:~ere also
might be one or more changes of the I.oan Servicer unrelated to a sale of the Note. If the re is a change of
the Loan Servicer, Borrower will be. given written notice of the change which will sta:e the nitme and
address of the new Loan Servicers.,' 'the address to which payments should be made and any other
information RESPA requires in conr~e.r:tion with a notice of transfer of servicing. If the '~ote is i;old and
thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, th~ mortg~tge loan
servicing obligations to Borrower wff!. remain with the Loan Servicer or be transferred to a s, ~ccessor
Loan Servicer and are not assumed by the Note purchaser unless otherwise provid,d by t'~e .Note
purchaser. .
· Neither Borrower nor Lender' :may commence, join, or be joined to any judicial action (as either
an indi¥idual litigant or the member 0i a class) that arises from the other party's actions pursuar,: to this
Security Instrument or that alleges tba'i the other party has breached any provision of, m any du :y cwed
by reason of, this Security Instrument, until such Borrower or Lender has notified the oJaer par:y (with
such notice given in compliance with the requirements of Section 15) of such allen:ed breach and
06/11/01 14:37 FAX 1 800 667 58061: C$ I{EOC ~007
, afforded the other party hereto ~ reasonable period after the gl.ring of such notice to take cmrective
action. If Applicable Law provides a time period which must elapse before certain ar tion cml be taken,
that~ time period will be deemed~ to be reasonable for purposes of this paragrapt. The notice of
acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of
acceleration given to Borrower pursuant to Section 18 shall be deemed to satisl}/ the r~otice and
opportunity to take corrective action provisions of Ibis Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances' arc those
substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental L~ w ~.nd the
following substances: gasoline, k~rosene, other flammable or toxic petroleum product;, toxic )esticides
and herbicides, volatile solvents', materials containing asbestos or formaldehyde, and r:tdioactive
materials; (b) "Environmental Law!'~ means federal laws and laws of the jurisdiction wh~::re the l:'roperty is
located that relate to health, safe~}! or environmental protection; (c) "EnvironmentaI Cleanup" ,inuludes
any response action, remedial action, or removal action, as defined in Environmental Law; aad (d) an
"Environmental Condition" mean,~'a condition tMt can cause, contribute to, or oth:rwise trigger an
Environmental Cleanup.
BorrOwer shall not cause.!°r permit the presence, use, dis osal st . .
Hazardous Substances, or threaten !110 release any lq'aTartt,~,~ ~,,ho,, P , .orage.__ct relea.,:.., of any
shall not do, nor aqow ..... ,,. ,~.? ,_ .,_ -5~.---~.~..~.-. .... ~,,mces, on or ~n the Property. L:lmrower
....... j,~ ,.-t to uu, anyrmng arxecung the Propert (a that
.... ~/ Y ) ' ' ir violati,'m of any
Environmental Law, (b) which crdMes an Environmental Condition, or (c) which, due to the presence,
use, or release of a Hazardous S¢~bstance, creates a condition that adversely affects the va~l .lc of the
Property. The preceding two sentefices shall not apply to the presence, use, or storage cn the PK~perty of
small quantities of Hazardous Sul:istances that are generally recognized to be appropriate 't:) normal
residential uses and to maintenanc~i of the Property (including, but not limited to, hazardous sl:bstances
in consumer products).
Borrower shall promptly g}ive Lender written notice of (a) any investigation, claim, de~nand,
lawsuit or other action by any gove!!mmental or regulatory agency or private party invol,,ing the Property
and any Hazardous Substance or Ehvironmental Law of which Borrower has actual kn >wledge, (b) any
Environmental Condition. includin~ but not limited to, any spilling, leaking, discharge, release or ~:hreat
of release of any Hazardous Substance, and (c) any condition caused by the presence, u~te or rel::ase of a
Hazardous Substance which adversely affects the value of the Propt:rty. If Borrower lea ns, or is notified
by any governmental or regulatory ~uthority, or any private party, that any removal or odmr rem,:diation.
of any Hazardous Substance affecting the Property is necessary,' Borrower shall promptly take all
necessary remedial actions in accordance with Environmental Law. Nothing herein shall cr:~atc any
obligation on Lender for an Environmental Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and ag;',-~e as f,:: tlows:
22. Acceleration; Remedieh, Lender shall give notice to Borrower prior to acceleration
following Borrower's breach of a~y covenant or agreement in this Security Instrument lhut not
prior to acceleration under Section 18 unless Applicable Law provides otherwise). The noti t:e shall
specify: (a) the default; (b) the action required to cure the default; (c) a date, not le ~s than 30 ,:lays
from the date the notice is given ¢:o Borrower, by wMch the default must be curet; and )t) that
failur~ to cure the default on or bef..ore the date specffied in the notice may result in acceler ;ai¢.n of
the sums secured by this Securityi!nstrument and sale ot the Property. The notkc shall ilurther
inform Borrower of the right to re![estate after acceleration and the right to bring a court a I:tion to
assert the non-existence of a defau,,it or any other defense of Borrower to acceleration and ilal¢. If
the default is not cured on or bef~;~re the date specified in the notice, Lender at'is opti.~,n may
JUN 11 '01 1~:50
i:
0§/11/01 14:88 FAX 1 800 667 ~808.:i CS HEOC ~008
reqUire i~ediale P~yment in I~~1 of ~1 s~ secured by t~s Security Instrume~ ~t with~ut ~urthe~.
demand and may invoke ~e p0~*er of s~e and any other retnedies permitted b} Applicable Law.
Lender shall be entitled to colle~:t all expenses incurred in pu~ing the remedie;~ provided in ~i~
Section 22, including, but not l~c~d ~, reasonable attorneys~ f~s and costs of tit le evide~ce.
If Lender invokes the i?wer of sale, Lender sh~l give notice of intett ~o focec~{ose
Borrower and to the person in possession of the Property, ff different, in accorded.ace with
Applicable Law. Lender shall':.~ve notice of ~e sale to 'Borrower in the manner provided
Section 15. Lender shah publis]~ the notice of sale, and the Proper~y shah be so{d ~ fl~e manner
prescribed by Applicable Law. Lender or its designee may purchase the Property at any sah~. The
proceeds of the sale shah be ~Pplied in the foHow~g order: (a) to all expeases o~ ~e sale,
including, but not li~ted to, reasonable attorneys' fees; (b) to all sums secured by thg S~curity
Instrument; and lc) any excess to:~e person or persons legally entitled to it.
23. Release. Upon p~.Yment of all s~s secured by ~s S~u~ty Inst~ent, ~ :~de~
release this S~urity ~S~ent. B6~ower ~hall pay ~y recordation costs ~ndcr ~ charge Bo:~ower
a fee for~releasing this Secu~ty ~s~umcnt, but only if the fee is paid to a thud p~y f~:, se:trices
rendered and the charging of the fee'~is pe~tted ~der Applicable Law.
24. Waivers. Bo~owei-~ releases and waives all fights under ~d by vi~ue of the L:~m:stead
exemption laws of Wyo~ng. ':~:~
BY SIG~G BELOW, BQ~ower accepts ~d a~s to ~he ~e~s and covenmts co~.lai~md in
this Security ~s~ument ~d in any executed by B o~ower ~d recorded with it.
Witnesses:
· ,, (Seal)
(Seal)
-Bo~ower (Seal)
"BOITOW~
(Se~)
-Bo~ower (Sea0
']~o~rower
(Seal)
~ ;-Bo~ower
~ , Bor'ower
08/11/01 14:38 FAX I 800 667 580~ CS ttEOC [~009
415
~ ~ STAT~ OF WYO~NG,
By EDW~ C BE~L ~ KAT~ L BElL
My Co~ssion Expires: .
Notary Pubhc
JUN il 'Bi i5:50 ~ 888 669 5806 PAGE.09
06/11/01 14:3~/ FAX 1 800 6§7 §80§ CS HEOC ~]010
· :' Page 1 of.[
Exhibit "A"
Loan #: 200.11.492900511
THE FOLLOWING DESCRIBED REAL PROPERTY LOCATED IN THE COUNTY OF LINCOLN,
STATE OF WYOMING, DESCRIBED AS FOLLOWS:
A PORTION OF LOT 2 OF BLOUK' 14 ON THE TOWN OF AFTON, LINCOLN COUNT~,
WYOMING, BEING MORE PARTICULARLY DESCRIBED AS FOLLDWS:
BEGINNING AT THE NORTHWEST CORNER OF LOT 1 OF SAID BLOCK 14..AND R~TI~TNING
THENCE WEST 20 RODS;
THENCE SOUTH 13 1/3 RODS;
THENCE EAST 10 RODS; ·
THENCE SOUTH 6 2/3 RODS;
THENCE EAST 10 RODS;
THENCE NORTH 20 RODS TO THE ['LACE OF BEGI~qING;
LESS AND EXCEPT THE FOLLOWING DESCRIBED PARCELS:
COMMENCING AT POINT WHICH ~S 12 RODS SOUTH AND 10 RODS EAST OF TH]~
NORTHWEST CORNER OF SAID LOT~2, BLOCK 14, AND RUNNING THENCE SOUTH 77
THENCE WEST 25 FEET;
THENCE SOUTH 55 FEET TO THE iiOuTH BOUNDARY LINE OF SAID LOT 2;
THENCE EAST 23 RODS, 8.5 FEE?.;
THENCE NORTH 20 RODS;
THENCE WEST 4 RODS;
THENCE SOUTH 12 RODS;
THENCE WEST 18 RODS TO THE ~i3INT OF BEGINNING.
ALSO, LESS AND EXCEPT, BEGINNING AT A POINT 2 RODS EAST OF THE NOR~']~WEST
CORNER OF LOT 1 IN BLOCK 14 gAID RUNNING THENCE SOUTH 12 RODS;
THENCE WEST 12 RODS;
THENCE NORTH 12 RODS;
THENCE EAST 12 RODS TO THE POINT OF BEGINNINg.
ALSO° LESS AND EXCEPT, COMME~!~CING 8 RODS NORTH OF THE SOUTHWEST CORNER
LOT 2 IN BLOCK 14 AND RUNNING THENCE NORTH 6 RODS;
THENCE EAST 10 RODS;
THENCE SOUTH 6 RODS;
THENCE WEST 10 RODS TO THE POINT OF BEGINNINg.
https ://securent7 infoboard net/datapr<~/ol s/legal3 asp'~ID-221313 6/1/I) 1
JUN J.~::':~" '"'5:5~ ' : ' ~ i 800 66? 5~06 1. O
06/11/01 13:21 FAX I 800 §§7 580fl, CS llEOC [~010
WELLS , Home Equity Access L/ne t: ider
FARGO i
(Open end credit with variable rate interest)
This Home Equity Access Line Rider is dated:., 06/11/2o01- a?d is an !lrn~ndme~; to the
Mortgage Or Deed of Trust ["Mortgage "J of ~he same date given by the undersigned ["Borrower") to secure Bz: rrower's H', ~me
Equity Access Line Agreement with WELL~!,': FAR¢~O B~NTK NYOMI~G. NiT [ON/~L i)~!OCIA~'. ~:ON
of the same data covering the prope~ de~ct~[bed in the Me,gage and located ~t:
,I ~
309 ~ISON ~ AFTON, ~ 83110
In add/don to the covenant~ ~nd agreements~made in the Mortgage, Borrower ~,nd Lender fu~her cov~,ant ~n~' ~9,'ee as t~ #lows:
1. The word "Note," as used in the Mo~ga~:~,e and this R/dec refers to the Home Equity Acces~ Line 4groem,t~nt.
2. The Note evidences an open end revolvi/ g line of credit agreement between:Borrower and Lendet ~e err'mtn: states'in tho
Mo~gege as the principal ~um of the ind=~btedness is the credit limit for the line of credit. Afl adw ,nces mi,,de .at any ~ ~e by
~endor in accordance with the terms of ~he Note, and aE interest on the advances, shad be secur~,d by th,~ Mc,~gage.
However, at no time shad the principal amount of the indebtedness secure~ by the Mo~ge~e, not includin,? s~ms adv ~nc~d (n
eccordance with the me,gage to protec~ ~e secudty of the Mo~gege, exceed the stated credit I~mit for t~le ~'ne of c, ~dit.
3. The N~te provides fac '
a variable rate of interest expressed as ~ daEy periodic rate equal to
plus the "Index Rate."
Tho dally periodic rate may increase if ~'HE HIGHEST PRIME ~TE __
P~LIS~ED I~ TEE W~L STREE~~' JO~AL .'MO~Y ~TES' T~5E-
(the "Index Rate ") increases. The initial (JaEy periodic rate is .
percentage rate of ?.25 %. The: annual percentage rate will never be more than 18%. Th ~ dagy p [~;i~J/c rate will
be adjusted on the first business day of eve~ month, using the Index Rate in effect on the last b~siness ~:rey of the [~ 'io~
mon~. An increase in the daEy periodic rate may increase the m=nthly payment due.
NOTICE: THIS MORTGAGE SECURES CRED~?T IN THE AMOUNT OF
UP TO THIS AMOUNT. TOGETH~ WITH I~TEREST. ARE SENIOR TO INDEBTEDNESS TO OTHER CI~EDITOI~;~ O~DER
~UBSE~ENTL Y RECORDED ~ FI~ M~RTGAGE$ AND LIENS.
W ~2Y13 (6-99-I0379.J) PII
JUN 11 '01 14:3B ~ 800 B67 5~06 PAGE. 10