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HomeMy WebLinkAbout913204 ( ( I( /] ) ! ;' . ';- !~~~òJ: ;I~o;J :,',' ;:': ".':!, ~::. ' ; :'.:;'~:~:'¡<~- , ·''"·','''-:·:.!..:t:':·;'-.: , . ~. :¡~;:, ·.!.!o!.!"4~'!'!'·'" ; ':'.;..i::¡.':æ....\.,..;~.:1;~:::.:.;·; ,'~~:.ti:;;~.';,,,;:: .'_.,', ···;:;'(·0'0·';"2'·1···;";··,' . . After Recording Return To: Warren Federal Credit Union P.O. Box 3200, Cheyenne, WY 82003 RECEIVED 10/28/2005 at 10:41 AM RECEIVING # 913204 BOOK: 602 PAGE: 721 JEANNE WAGNER _ ~IN~~LN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording Data] MORTGAGE (OPEN END CREDIT-THIS MORTGAGE SECURES FUTURE ADVANCES) DEFINITIONS Words used in multiple sections of this document are defmed below and other words are defined in Sections 6, 8, 13, and 15. Certain rules regarding the usage of words used in this document are also provided in Section 11. (A) "Security Instrument" means this document, which is dated 9/1912005 together with all lliders to this document. (B) "Borrower" is VANDEL REVOCABLE TRUSTBY JAMES R VANDEL & JUDITH I VANDEL. TRUSTEES OF THE TRUST JAMES R V ANDEL & JUDITH I V ANDEL TRUSTEES OF THE JAMES R AND JUDITH I VANDEL REVOCABLE TRUST DATED FEBRUARY 12. 2001 Borrower is the mortgagor under this Security Instrument. (C) "Lender" is Warren Federal Credit Union . Lender is a Credit Union organized and existing under the laws of The United States of America Lender's address is P.O. Box 3200, Cheyenne, WY 82003 Lender is the mortgagee under this Security Instrument. (D) "Agreement" means the Credit Line Account Variable Interest Rate Home Equity Secured Open-End Credit Agreement and Truth-In-Lending Disclosure signed by Borrower and dated 9/19/2005 . The Agreement states that Borrower may, fiom time to time, obtain advances not to exceed at any time, an amount equal to the Maximum Credit Limit (as defmed therein) of FIFTY THOUSAND AND 00------------------------------ Dollars (U.S. $ 50,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than 9/19/2015 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property". (F) "Loan" means the debt evidenced by the Agreement, plus interest, any late charges or other fees and charges due under the Agreement, and all sums due under this Security Instrument, plus interest. (G) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable fmal, non-appealable judicial opinions. (H) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other. charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (I) "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 terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a fmancial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (J) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 3) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. v;age I or8 pages) :.' ,-:jf:::¡m~~~1~ .:C;~ '''~':': ~;';:':C~''.'q-:.-;',''' ,,<-:,:1; .:.1 ,~:;".,;,_. , ,',.:. ·.·i~.·.'!i·' "I" ,',' .., _ ,"..' - . ~.!. -'.",·,-:,·"""1t'':£':;l;.-t,,,,,,_,, '. .~"'--~·''"'_' '>I ,', '".,'.' " ~:. ",'- " ,..;.,..:>,..~.-. ..'" , ~: 091.320q C!ì('t'1 . \.hj t 22 (K) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (L) "Periodic Payment" means the regularly scheduled amount due for principal and interest under the Agreement. (M) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Agreement and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Agreement; and (ii) the perfonnance of Borrower's covenants and agreements under this Security Instrument and the Agreement. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the following described property located in the County of [Type of Recording Jurisdiction] LINCOLN [Name of Recording Jurisdiction] LOT 25 OF THE STAR VALLEY RANCHES PLAT 6, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. THAYNE [City] ,Wyoming 83127 [Zip Code] ("Property Address"): which currently has the address of 820 VISTA WEST DR [Street] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property". BORROWER COVENANTS that 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 defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. , (page 2 of 8 pages) _ .; :J:~', Tr:,:,~ ¡' '.: : '¡' .:' ',.:.'::; :'~-'I';."t ~ ~, . .:.:.:.:...:.:.:.... 1 "_,,, ,'l~',",-, . f;;';'" , ,'"¡,, ,;~,.",'..' ,'..,' ~, :";; ",': ~":""',-', ";;", ,'~-. ,. ", ,,'r':¡;¡.:'."""c'i'Õ'f'" ',,' ,0913204 r' 'ì r- '- tJ i ' ,., f) t) , \,/ I t.:,. \oJ Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Late Charges or other Fees and Charges. Borrower shall pay when due the principal of, and interest on, the debt owed under the Agreement and late charges or other fees and charges due under the Agreement. Payments due under the Agreement and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Agreement or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Agreement 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, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Agreement or at such other location as may be designated by Lender in accordance with the notice provisions in Section 10. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. If Borrower has breached any covenant or agreement in this Security Instrument and Lender has accelerated the obligations of Borrower hereunder pursuant to Section 16 then Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Agreement immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Agreement and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Charges; Liens. Borrower shall pay all taxes, assessments, charges, rmes, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is perfonning such agreement; (b) contests the lien in good faith by. or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 2. 3. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Borrower shall be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 3 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the rate chargeable for advances under the Agreement from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. (page 3 of8 pages) I'r' il.' i¡',' ~~~m~~ i:: ::~~ ~: ~~~i~¡~mmj ¡:';:C¡:¡:;;,..,U~'",',' U.'," , '·,':U'rl'n:.:;: ~-L"! '0913204 r 1',\ I" t"1 () 4 \.,',.JUtt:.,' All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fonn of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a sÅ“ndard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed, Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 16 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Agreement or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Agreement or this Security Instrument, whether or not then due. 4. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is detennined pursuant to Section 3 that repair or restoration is not economically feasible, 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 shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and 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. 5. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perfonn the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding, Securing the Property includes, (Pige 4 of 8 pages) , / " "" \ 09:13204 t t\C~r')5 \.,. \,.J \..1 & t- , ,';'''·:';!:·:':;~'T> but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off Although Lender may take action under this Section 5, 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 5. Any amounts disbursed by Lender under tills Section 5 shall become additional debt of Borrower secured by tills Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If tills Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 6. 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, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay 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 lessened, the Miscellaneous Proceeds shall be applied to the sums secured by tills Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the tillrd party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under tills Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 14, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. 7. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of t~:i;m~ili~il~ili~:; (Page 5 of8 pages) I ~7I¡j¡::¡-;j~mm~ '~.-!:¡~ ,:.:1' .-.-;:. '. ' ..". :: ' ·i' "~'I,:\ï't' ',".. :, ',;LLo.:I:":'I~ ;..,__"_ " ;Sr13204 {' (\ r ,..., rþ \., '.! \,.1 ,..- 6 ...' Borrower or to refuse to extend time for payment or otheIWise modifY amortization of the stunS secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments 1Ì'om third persons, entities or Successors in Interest of Borrower or in anlOunts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 8. Joint and Several Liability; Co-signers; Successors and Assigns Bound. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 13. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but is not personally liable under the Agreement (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the tenns of this Security Instrument; (b) is not personally obligated to pay the stunS secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modifY, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Agreement without the co-signer's consent. 9. Loan Charges. Lender may charge Borrower fees for services perfonned in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights. under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximllillloan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennitted limit; and (b) any sums already collected 1Ì'om Borrower which exceeded pennitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Agreement or by making a direct payment to Borrower. 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 overcharge. 10. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otheIWise. 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 anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfY the corresponding requirement under this Security Instrument. 11. (rl)verning Law; Severability; Rules 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 Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Agreement conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Agreement which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 12. Borrower's Copy. Borrower shall be given one copy of this Security Instrument. 13. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 13, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. (Pfe 6 of 8 pages) , "- \ . .. ~1 .r,', r¡, ~-\V'l n.,,-~':, ..( ~"''U~ ..t...,~, ~'''''.J r 0) (:, te: .r') ~, ~, \, \.1 , ~ i ", ,''''''.:!'!¡;'¡'ñ·¡¡¡I"'.",, -;;.-- ~',~2 ._,';:".;;,.....,:..._. i~""~i:':"'" ';" -'. ,-' :'-:' ~~::" ;;;,1!,,;:;!j.:;.', " 'j~.._~'.;::,,_-<}::::. :~.IûU.·;W;'.·~~.~'- .- -"":·;_,~:,·,:.'..i~-.'..:~:,',>;.'...:,..'''''',:,:';;:.~·:' :,..:. :L~,:;;':~'¡.,:. Y'''.-;''','ò',.', ' ';""'>""~','i~:~; ':'~ :~""'~_", ,',' >7", "':!:.~.;,·~'~':;'Y If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written, consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days trom the date the notice is given in accordance with Section 10 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pennitted by this Security Instrument without further notice or demand on Borrower. 14. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specifY for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Agreement as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 13. 15. Hazardous Substances. As used in this Section 15: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, 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 the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property 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 consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, 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 remediation 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 create any obligation on Lender for an Environmental Cleanup. (Page 7 of 8 pages) I Ii:;;;'::::;,,; ';1 - !I;""f«\:~;'r ,.-:..j'; .£.ù.:,:~~I..~,l:J ~;¡¡*:~:::::::~ W¿!ti:~·i,I""f '.' '.¡' :Zi:!:~~t~~!f!:~~f ;'~'Int~!~1;~~~ .·'T.~:.:I:'.'." <,.'.'.""-,".,¡.-.. ... ';-äü","'1-204 ~_Ij~1 A\:t..Ô dI rA,....,..,r;s ' t'., . ,~'-J~J.¡." 16. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in the Agreement under which acceleration is permitted (but not prior to acceleration under Section 13 unless Applicable Law provides otherwise). The notice shall 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 specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 16, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 10. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 17. Release. Upon payment of all sums secured by this Security Instrument and tennination of Borrower's ability to obtain further advances under the Agreement, Lender shall release this Security Instrument. Borrower shall pay any recordation costs, Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is pennitted under Applicable Law. 18. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: dj~ /}tdVþt~ ~-ðÅ"^ WH+ Ó (Seal) -Borrower ~l.{;¡ ~+O~~. ~_j) ~ STEE JUDITH I ~ANDEL (Seal) -Borrower Space Below This Line For Acknowledgment ,. STATE OF WYOMING, l, ~~l U'-.. _ County ss: The foregoing instrument was acknowledged before me this Q. (Q cl ,0 I~ 0S; ~~p\-, ~Q(J S (date? \J(~n,Ó.ç> Cì.t-.d __\l1d~~I \JCitl-.del by TRUSTEE S OF THE TRUST \:. G ~\ e -S \< (person acknowledging) " WITNESS my hand and official seal. My Commission ~ires: ~G i'd~ , ~ <G ¡C)9 l ...-.....-..--- (Pige 8 of 8 pages) , OTBS 093 WY (5/01) Copyright Oak Tree Business Systems, Inc., 2001. AU Rights Reserved. ARVElLA KUNl Notary Public Uncoln County Wyoming Mv CommIaaIon expire, Mar 4, 2009 / ·'.,....,...,.¡....;...,',. ',.,...,...........,...,.. . :""::'~'J "-)'204 I ~,J ~l 4L G.-411 r/Ìr.~r}9 '.' 1..) u t :.:. State of U ~ Ý 0 fy.... \ \\. .q ~ ss County of Lb ~(O_O ~ (\ On this ~fo day of '5e~{Jr ,2otG5 ~S ~ \J cu'\.d1) whose identity was proven to me on the basis of providing a non- expired government issued photo ID to be the person who is subscribed to this attached instrument, personally appeared before me and acknowledged that he/she executed it. This Notary Certificate is prepared on a separate page and is attached to the document entitled ~ or~" containin~?S pages and is attached to that document by means of a staple. My commission expires: N\.-Qlrc:..~ L\ ;l b Q q I AlVELLA KUNZ Notary Public Llncoin County . Wyoming CommIaaIon ExpIres Mar 4, 2009 j;;¡;'c'N':ijj¡';'jli ."""""" ',t ",;',i~~ ~. '.:::3:;1:3~ :,:-'-:J~~~¡~m~~ =!.I1't~.ó.!¡!a:"."'''''J-''', 'C h ~I:' ,.,;, . .... ~ ...~~ .'."'o·,c¡" U'~ ..·¡¡;~;q-..,LÔV __ ")<'''''oC, ':.< 0 , " " '~ ",,~'-'~." - ,.~',"'.....'.~¿'!C." ",,"., :-. {-.,"".,..J.ot.-....._""..d.',....', "'."" .... ,~.__"" ' ., ",-'.', ,-.' .-':~." '; ,':!;'~I ",.: >.'. :"1', (f8.1:J:¢Oq r("I('.""")O '-' U \} f ,,) State of " t ~ U 0 \ffi' VL 'j' t County of l \ tkeß (1\ ss On this j t Q day of ~ -9 ~tp n^ ~ 20 0 ~ ~ ~ði.}\\ \. ({urtd.p~f, whose identity was proven to me on the basis of providing a non- expired government issued photo I D to be the person who is subscribed to this attached instrument, personally appeared before me and acknowledged that he/she executed it. This Notary Certificate is prepared on a separate page and is attached to the document entitled ~O)\"tat1~ " , containing '8 pages and is attached to tha;;?cument by means of a staple. My commission expires: ~cu-0.l.. '-\ ) d. 00 9 AAVELlA ICUNZ Notary Public Lincoln County Wyoming My Commlaalon Expires Mar 4, 2009