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HomeMy WebLinkAbout875828After. Recording Return To: COMMUNITY FIRST NATIONAL BANK 200 NORTH CENTER STREET ROCK SPRINOS, WY 82901 · [Space Above This Line For Recording Data] R~ED DEFINITIONS ,~' Words used in muttiple sections of this:dOcument are defined below and Other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regardktg the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this.ldocument, which is dated SEPTEMBER 4, 2001 together with all Riders to this docume~:;:t. (B) "Borrower"is MATTHEW J. "'REED AND ~4ISTY A. REED, HUSBAND AND WIFE Borrower is the mortgagor under this Si:'curity Instrument. (C) "Lender'~ is COMlVr0NITY F~ZRST NATIONAL BANK Lender is a CORPORATION organized and existing, under the laws of THE UNITED STATE O1.? AMERICA . Lender's address is 200 NORTH CENTER STREET ROCK SPRINGS,,I WY 82901 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note:signed by Borrower and dated SEPTEMBER 4, 2001 The Note states that Borrower owes Lender THIRTY-EIOHT THOUSAND TWO E,'b-RDRED AND 00/100 Dollars (U.S. $ 38,200.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than oCTOBER 1, 9. 031 (E) "P, roperty" means the property that is described below under the heading "Transfer of Rights in the Property." (F) ~%oan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and 'all sums due under this Security Instrument, plus interest. WYOMING - SingleFamily - Famde Mae/Fred die Mac UNIFOItM INSTRUMENT Fonn 3051 1/01 D0CUlWYI (Page l of 12 pages) DOCU~W~I .¥TX J.&lo&/2ooo G) "Riders" means all Riders to this Sel,aUrity Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box. r:.'.s applicable]: [] Adjustable Rate Rider [] Qandominium Rider [] Second Home Rider [] Balloon Rider [~] E:]~anned Unit Development Rider [] Biweekly Payment Rider [] 1-4 Family Rider [] Other(s) [specify] :P..!tX-EXEMPT FINANCING RIDER (H) "Applicable Law" means all cont~:~}ling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Pr,.:!~perty by a condominium association, homeowners association or similar organization ~;, (a) "Electronic Funds TransfeP' mea,.~s 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, 6? authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, po~nt-of;.:sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automate~)clearinghouse transfers. (K) "Escrow Items" means those iterh:~ that are described n Section 3. (L) 'qVliscellaneous Proceeds" means .my compensation, settlement, award of damages, or proqeeds paid by any third party (other than insurance procetids paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condenmation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnaticn; or (iv) misrepresimtations of, or omissions as to, the value ard/or condition of the Property. (M) "Mortgage Insurance" means insurance p:otecting Lender against the ncnpayment of, or default on, the Loan· (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 et ~his Security Instrument. (O) "RESPA" means the Real Estate i!~ettlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Par'! 3500), as they might be amended from time to time, or any additional or successor legislation or regulation thai;, governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and. restrictions that are imposed in regard to a "federally related mortgage loan" eVen if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrowe~:-" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligatiom~ trader the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PRO!:!'ERTY This Security Instrument secures to [x~ader: (i) the repayment of the Loan, and all' renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this pm~3se, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with l~Ower of sale, the following described property located in the COUNTY (Type of Recording Jurisdiction) , of LINCOLN · (Name of Recording Jurisdiction) LOT 8 OF BLOCK 3 OF THE WESg' VALLEY SUBDIVISION TO THE TOWN OF LABAROE, LINCOLN COUNTY, WYONIN~ AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. which currently has the address of 813 COTTONWOOD [Street] LABAROE ,Wyoming 8 319. 3 ("Property Address"). [City] [Zip Code] WYOMING - Single Family - Famde M-e/l'red die Mae UNIFOIAM INSTRUMENT Form 30~1 1/01 DOCUIWY2 (Pag~ 2 o fl2 pages) l~ocu l.~,/a, v,l,x lt/o~,/aooo TOGETHER WITH all the irr']?rovements 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. AI!~ of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS t::tat Borrower is lawfully seized 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. ' THIS SECURITY INSTRUMENT combines uniform covenants for national use and nou-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Bo~'rower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, anill interest on, the debt evidenced by the Note and any prepaymm~t charges and late charges due under the Note. ~orrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this S~4curity Instrument shall be made in 'U.Scurrency. However, if any cheek or other instrument received by Lender as :payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or S:~i subsequent payments due under the Note and this Security Instrument be made in one or more of the following f¢'j:ms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashklr's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agencyilinstrumentality' or entity; or (d) Electronic Funds Transfer. , Payments are deemed received?~y Lender when received at the location designated in the Note or at such other locatmn as may be designated by ~ ;ender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment ii..'ithe payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or par::ial payment insufficient to bring the Loan current, without waiver of auy rights hereunder or prejudice to its right~': to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the ~,i'ime such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender na~.:d not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment k:~ 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 princ:. ?al balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have no',:v or in the future against Lender shall relieve Borrower from making payments due under the Note and this S~:curity Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments o.: Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amdunts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it becanx: due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Secnrity Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment fi'om Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the dehnquent payment and the late charge. If more than one Periodic Payment is out!~tanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall beapplied first to any prepayment charges and then asxtescribed in the Note. Any application of payments, i:asurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the dee date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower sh~l pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can ~:;tain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or gr¢i3nd rents on the Property, if any; (c) premiums for any and all insurance WYOMING - Single Family - F~mic l~lae./Fred 'iie l~lac UNIFORM INS TRUMENT Fonn 3051 1/01 PoculwY~ (Page 3 of l2 pages) DOCUlt~Y3. V?~ ll/04/~OOO required by Lender under Section 5; i;nd (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of thepaym~mt of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "E~qrow Items." At origination or at any time during the term of the Loan, Lender may require that Community As:sociation Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Secti'.m. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay. ~ii'~e Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for a:,~ or all Escrow Items at any time. Any such waiver may only be in writing. In tM event of such waiver, Borrower shall pay directly, when and where payable, the amouuts due for any Escrow Items for which payment of Funds ha,i, been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment withia such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts, f.;3all for all purposes be deemed tobe a covenant and agreement contained in this Security Instrument, as the phrase l.lcovenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant tca waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its fights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance ~:ith Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are th~n required under this Section 3. Lender may, at any time, collec~ and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the ambulant of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or ~therwise in accordance with Applicable Law. The Funds shall be held in an.;i~stitution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender i?m institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to P~a~Y the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding aacl applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borr~iwer any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with iRESPA. If' there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower "as required by RESPA, and Borrower shall pay to Lender the amount necessary to make uI) the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow., as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to L¢:r.der the amount necessary to make up the deficiency in accordahce with RESPA, but in no more than 12 monthi!i' :payments. Upon payment in full of all suim secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower ~hall pay all taxes, assessments, charges, fines, 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 Asse;:!ation Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay [.::tem in the manner provided in Section 3. 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 performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lk:n in, legal proceedings which in Lender's opinion operate to prevent the enforcelnent 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 aJ:9' 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 WYOMING - Single Fanfily. Fannie Mae/Fro&lie Mac UNIFORA~ INSTRUIVlENT Fonn 3051 U01 DOCUIWY4 (Pag~ 4 of 12 pages) that notice is given, Borrower shall satis.!:y the lien or take one or more of the actions set forth above in this Section 4, Lender may require Borrower iio pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, ha:~ards 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 (leductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sm:~!ences can change during the term of the Loan. The insurance carrier providing the insurance shall be chose~lI by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unrea!_,'onably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood :~one determination, certification and tracking services; or (b) a one-time charge for flood zone determination an,~ certification services and subsequent charges each time remappings or similar changes occur which reasonabl~,! might affect such determination or certification. Borrower shall also be responsible for the payment of any feei;i imposed by the Federal Emergency Management Agency in connection with the review of any flood zone detern!lination resulting from an objection by Borrower. If Borrower fails to maintain a.yof file coverages described above, Lender may obtain insurance coverage, at Lender' s option and Borrower's expei'i:se. Lenderis under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage i!ihall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents o'!:l~e Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously i;ir effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed tli'..i~ cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Sectio)t 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear irkerest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lex-~,der to Borrower requesting payment. All insurance policies requiredlby Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall includi:, a standard mortgageclause, 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 t'enewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall 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 ~4nderlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restorati::m 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 nndertaken 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 reffaires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest ox'earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid cut of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economic;~:,lly 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. Such insurance proce~ids shail be applied in the order provided for in Section 2. , If Borrower abandons the Prop,!;rty, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not re,,)pond 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 Let. der acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights3o mxy insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any .other of Borrower's rights (other thard~e right to any refund of unearned premiums paid by Borrowe0 under all insurance policies covering the Property, insofar as such rights WYOMING - Single Family -~'~mde M~e./Fr~d t lie Mac UNIFORM INSTRUMENT Fonn 3051 1/01 DOCUIWY5 (Page 5 of 12 pages) are applicable to the coverage of the Pronerty. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid undeii the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shal;~ occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower' s control. 7. Preservation, Maintenanc~,~ and Protection of the Property; Inspections. Borrower shall not dest~:oy, damage or impair the Property, allow the Property to deteriorate or conmfit 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 ito its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible;(Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance r:ri condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shali?,be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes, l~i,,~,nder 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 t, he Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.: Lender or its agent may make 5¢asonable 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 i~;[i;pection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities act.in.g at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or. in~curate, information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's &i:cupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenant~.~ .and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly aff..sct 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 Se~:~rity Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender m~y do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repa!ri.ng 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 pre..tect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bani!a'uptcy proceeding. Securing the Property includes, 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 cod!~ .violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lenc~er incurs no liability for not taking any or all actions authorized under this Section 9. ,;,, Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amc:c..nts 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 this Security Instrument is o:h 'a leasehold, Borrower shall comply With all the provisions of the lease. If Borrower acquires fee title to the Prope~ity, the leasehold and the fee title shalI' not merge unless Lender agrees to the merger in writing. . ' 10. Mortgage Insurance. If L::nder required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums requii'~d to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required b!).' Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower Was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the prenfiums required to obtain coverage substantially equivalent to WYOMING - Single Family - Famde MaeYFredi~ie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCU1WY6 (Page 6 of 12 pages) ~t.~ L..~ ~ · the Mortgage Insurance previously in effect; at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effee!:l from an aitemate mortgage insurer selected by Lender. Il: substantially equivalent Mortgage Iusurance coverag~:~.is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that?ere due when the insurance coverage ceded to be in effect. Lender will accept, use and retain these payments a'S a ri°n-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non~refundable, notwit!:!~tanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any ir:i':ierest or earnings on such loss reserve. Lender can no longer require loss reservepayments ff Mortgage Insurancei Coverage (m the amount and for the period that Lender requires) provided by an insurer selected by Lender again,~:~ecomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mq.~iligage Insurance. If Lender required Mortgage Insurance as a condition of making th~ Loan and Borrower was r~luired to make separate]¥ designated payments toward the premiums for Mortgage Insurance, Borrower shall p~)~ the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, gntil Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Se¢.'don 10 affects Borrower's obligation to pay interest at the rate provided in the Note. ~ ;~ Mortgage Insurance reimburselil Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the L0i~n as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory' to .Ire mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreemeffts, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portionpf Borrower's payments for Mortgage Insurance, in exchange fo:sharing or modifying the mortgage insurer's risk, .or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in e~',:hange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Furl:her: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance~ and they wiE not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may inchide the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically~ and/or to receive a refund of any Mortgage Insurance premiums that were unear[~ed at the time of such cancellation or termination. 11. Assignment of Miscellam/.aus Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, s{ch Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is;:~conomically feasible and Lender's security is not lessened. During such repair and restoration period, Lender sh :¢11 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 undertak~:n promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress ]:,ayments as the work is completed: Unless an agreement is made in writing or Applicable Law requires interest to ~e paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on s~i. ch Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be l~'!:ssened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or nc'l: then due, with the excess, if any, paid tO Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, d~:.;struction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this S.~curity Instrument, whether or not then due, with the excess, if any, paid to Borrower. WYOMING - Single Family - Famde Mae./Fre~i~lie Mac I~IFORM INSTRUMENT Form 3051 1/01 DOCUIWY7 (Page 7 of 12 pages) noc~J.~ry'~ .v?x xx/o~/a000 In the eveut of a partial taking':, destruction, or loss in value of the Proper~y in which the fair market value of the Property immediately before thi., partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Seclarity Instrument inm~ediat~ly before the partial taking, destruction, or loss in value, unless Borrower and Lender oth~: rWise agree in writing, the sums secured by this SecurityInstrument shall be reduced by the amount of the Miscella~i~us Proceeds multiplied by the following traction: (a) the total amount of the sums secured immediately before th~ipartial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately berGdorf;the partial taking, destruction, or loss in value. Any balance shall be paid to ]~ orrower. · ~: · In the event of a partial taking;~ !lestruction, or loss in value of the Property in which the fair market value of the Property inm~ediately before the;: i)artia! taking, destruction, or loss in value is less than the amount of the sums secured immediately before the p-~tial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellimeous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are t~,:ken 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 ti~te date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restor~1ion or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Oi}posing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Bo:~r0wer 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 this Security. 'instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeif~i~re of the Property or other material impairment of Lender's interest in the Property or rights under this Security ~nstrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lende~'s interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are; not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; ;;Porbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the ~.ums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower i~hall 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 Borrower or to ;'cruse to extend time :fi3r payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any d~mand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender i~ exercising any right or remedy including, without limitation, Lender's acceptance of payments from third pen;ohs, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waix:'er of or preclude the exercise of any right or remedy. 13. Joint and Several Liabil;ty; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and li~.bility shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute' the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-sign.*C.s interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the stmis secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, mc:)dilfy, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without fhe co-signer's consent. Subject to the provisions of Se~'Cion 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrumet~t in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security in~trument. Borrower shall not be released from Borrower's obligations and liability,under this Security Instrument:unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument st:all bind (except as provided in Section 20) and benefit the successors mad assigns of Lender, 14. Loan Charges. Lender .~Tay charge Borrower fees for services performed in connection with Borrower's default, for the purpose of F~otecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited 1.,3, attorneys' fees, property inspection and valuation fees. In regard to any WYOMING - Single Family - Iea~mie Mae/Fre,klle Mac UNIFORM INSTRUMENT Fonu 3051 1/01 DOCU1WY8 (Page 8 of l2 pages) 505 other fees, the absence of express author:i'iy 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 Applic.Tble Law. If the Loan is subject to a law ~yhich sets maximumloan charges, and that law is finally interpreted so that the interest or other loan charges colleiited or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge sh~!l be reducedvy the amount necessary to reduce the charge to the permitted limit; and (b) any sums already colleqlied from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to makechis refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refun:l reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by. direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such OVercharge. 1~. Notices. All notices given }~Y Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in c~nnection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class lixail or when actuall'y delivered to Borrower's notice address ifsen[by other means. Notice to any one Borrower s::hall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address ,~hall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Bo~::rower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reportit!,g Borrower's change of address, then Borrower shall only report a change of address through that specified proced'~re. There may be only one designated notice address under this Security Instrument at any one time. Any notice t::~ 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 Instrummt shall not be deemed tehave been given to Lender until actually received by Lender. If any notice required by thi~i:Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresp0nd~ng reqmrement under this Security Instrument. 16. Governing Law; Severabi[!ty; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdicti¢m in which the Property is located. All rights and obligations contained in this Security Instrument are subject to ar~y 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 Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be givan effect without the conflicting provision. As used in this Security Ins,r:rument: (a) words of the masculine gender shall mean and include corresponding neuter words or words oii:' 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. 17. Borrower's Copy. Borrow~':.r shall be given one copy of the Note and of this Security Instrument. 18. Transi'er of the Property i;~r a Beneficial Interest in BorroWer. As used in this Section 18, "Interest in the Property" means any legal or ben!!ficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, .~ontract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borr0.,yer at a future date to a purchaser. If all or any part of the Propert7 or any Interest in theProperty 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 payme[~t in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender :!f 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 from the date the notice is given in accordance with Section 15 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 iSvoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reif,~tate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcemen'~:iof this Security Instrument discontinued at any time prior to the earliest of WYOMING - Single Family - Fam~ie Mae/Fre,ldie Mac LINIFOR3,~ INSTRU~fENT Form 3051 1/01 DOEU1WY9 ,; (Page 9 of 12 pages) ~OCII~Y9 .'v,lv'~ 506 (a) five days before sale of the Propeny~?ursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law mig!~t specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security l:n.strument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Ser;U~Sty Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants c~r .agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited t;ol. reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of pr, otecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action~asi Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security iinstrument' and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchaaged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the followir~g 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 i{kency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Securit.:/Instrument and obligations secured hereby shall remain fully effective asif no acceleration had occurred. However, ithis right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") flxat collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address c',f the new Loan Servicer, the address to which payment~hould be made and any other information RESPA requires'(in"connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loa:n Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain wi!!h'the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unit:ss otherwise provided by the Note purchaser. Neither Borrower nor Lender: may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a.~ct:ass) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the othe[! party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of ~'le~ition 15)' of such alleged breach and afforded the other party hereto a reasonable period after the giving of such ~otice to take corrective action. If Applicable Law provides a time period which must elapse before certain action' c~:n be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of accelerat{r~n and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Bcrr¢?wer pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action prc, v.~sions of this Section 20. 21. Hazardous Substances. As '.~sed in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law andthe following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldetxYde, 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) ay :"Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environment:al 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 theProperty. Borrower shall not do, nor allow anyone else to do, anything affecting tine Property (a) that is in violation of any Environmental Law, (b) which creates ah 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 WYOMING - Single Family - Famfle Mae/Freddie ~/ae L,~IFORM INSTRUMENT Form 3051 1/01 DOCUIWYIO (Page 20 of J2 pages) recognized to be appropriate to norma~l:~residentiaI uses and to maintenance of the Property (including, but not limited to, hazardous substances in cons'amer 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 spffi.ing, leaking, discharge, release or threat of release of m~y Hazardous Substance, mhd (c) any condition cause4,1by 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 an3, Hazardous Substance affecting the Property is necessary, Borrower shall promptly tak;z all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligati~.n on Lender for an Environmental Cleanup. NON-UNIFORM COVENAN~Ii~S. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. )!,,ender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; 'ii~) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must ?ie cured; and (d) that failure to cure the default on or before the date specified in the notice may result in a¥celeration of the sums secured by this Security Instrument and sale of the Property. The notice shall furthm:'! inform Borrower of the right to reinstate after acceleration and the right to bring a court action to asse~.t the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default isnot 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 !bower of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all {:xpenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonah.le attorneys' fees and costs of title evidence. If Lender inw~kes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the ProTmrty, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in th~.~ 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 mit limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any exec~;s to the person or persons legally entitled to it. 23. Release. Upon payment oi" all sums secured by this Security Instrument, 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 permitted under Applicable Law. 24. Waivers. Borrower releas~:,~;s and waives all rights under and by virtue of the homestead exemption laws of Wyoming. WYOMING - Single Family - Famde Mae/Fr¢l!':fie Mac UNIFORM INSTRUMENT Form 3051 1101 DOEUlWY11 (Page 11 of 12 pages) nocux~,~.wx 5O 8 BY SIGNING BELOW, Borrcwer accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed b,/~orrower and recorded with it.' ' I (Seal) Borrower .(Seal) .... (Seal) _ _ _ - (Seal) : Borrower M'r ~~sn Borrower .(Seal) .(Seal) '; Borrower Borrower [Space Below This Line For Acknowledgment] STATE OF WYOMTNO COUNTY OF LINCOLN The f°regoing instrument was acknowlcdi~ed before me by I~ATTHEW J. REED AND MISTY A. this 4TH day of SEPTEMBER, 9.001 Witness my~d and official se~t. "' My Commission Expires: February 2, 2002 WYOMING - Single Family - Famde Mae/Fre~,l':di?Mac UNIFORM INS TRUMENT Form 3051 1/01 DOCU1WY12 ;!!(Page 12 of 12 pages) hoc'axle .v,ex l.x/o~laooo The follov~g is ~ Addendum to ~e Morgue. The addendum inco~o~ed into, ~d recorded wi~, ~t: MoMg~e. This T~-~xcmp~ F~cin~ ~dcr is ~Co~o~cd into ~cnd ~c ~c~s o~ ~hc Mo~c ~o which R is a~achcd. In addition ~o ~hc covcn~ts ~d ~ecmcnts made ~ ~c Sccu~ inst~m~, Bo~owcr ~d ~nder fu~her coven~t ~d ~ee as fo~ows: ~nder, cr such of its successors or aSsi~s as may, by sep~ate ~s~ment, assume .responsibiH~ for assu~ng compli~ce by ~c Bo~wer wi~ provision~ of ~is T~ Exempt Fin~cing ~der, may ~qu~ '~mediate pa~cnt m full of ~1 sums sccu~d by this Sccug~ Ins~ment fi: Ail or pm't or ~he Property sold or othc~isc tr~sfe~d (other thm~ by d~i~, descent or operation of law} by Bo~wer t6 a pumha~r or o~er ~sfe~c: i) ~o ~not reasonably be expected to occupy ~e p~pc~ ~' as a p~ncip~ resident wi~ a reasonable ~e ~er ~e ~e , or ~sfcr, ~ as provided tn Section 143{c) ~d (i) (2) of ~c Intem~ Revenue ~e; or ' ~ ~) ~o has had a present o~ership ~te~st ~ a p~p~ ~ ~sidence du~ng ~y p~ of the ~e ye~ period end~g on ~ ~c date of thc s~e or t~sfer, ~ as prodded ~ Sec~on ~ 143(d) ~d [i) [2~ of ~c Intem~ Revenue ~de; or iii) At ~ acquisition c~t which is ~eater averse ~ea purchase price (~eater th~ 110 pe~ent for t~gctcd ~ea resid~nces], ~ as prodded ~ ~on 143(e~ ~d (l) (2) of ~e Inte~ Revenue Code; or iv) Who~c f~ly incol~nc cxcccds appli~ble '~come ~ts provided in Sec~on 143(~ ~d (i) (2) of ~c lntem~ Revenue C~e. b)" Bo~ower f~s to occu~ ~c propc~ dc~d ~ ~e Secu~W Ins~ment wi~out p~or ~tten consent of ~c lender or its successors or assi~s described at ~c ~g~n~g 'of Exempt ~n~c~g ~der, or Bo~ower o~ts or .~srepresents a fact respect to the pm~sions of Sec~on 143 of ~e ~tem~ R~enuc ~de in ~ app~on for ~e 1o~ sccu~ by ~is Ins~ment. References ~e to ~e Intem~ Revenue Code as ~ended, ~ eff~t on ~e date of ~ecu~on of ~e SecuHW lns~ment ~d ~e d~med to ~clude thc implem~:n~ng re~la~ons. int~s T~-~xempt ~c~g ~der. ~ MPP 2!0-B {Revi~d 12/95}