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HomeMy WebLinkAbout913622 Return To: FREMONT INVESTMENT & LOAN P.O. BOX 34078 FULLERTON, CA 92834-34078 Prepared By: BARBARA LICON 1000286574 r(\r~n9 '.' ,) \.' J ;.,' J... S:L) [Space Above This Line For Recording Data] DEFINITIONS MORTGAGE MIN 1001944-1000286574-4 RECEIVED 11/10/2005 at 4:11 PM RECEIVING # 913622 BOOK: 604 PAGE: 502 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, \f',fY Words used in mulliple sections of !.his document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. c¡ (A) "Security Instrument" means this document, which is dated October 28, 2005 togeùler wi!.h aJl Riders to ù1is document. (B) "Borrower" is JEAN IE M. MALONE / 7':.J1þlio,tv, v t -rr ()tt« ) ; Borrower is !.he mortgagor under this Security Instrument. (C) "IVIERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate cOllloration that is acting solely as a nominee for Lender and Lender's successors and assigns. ]VIERS is the mortgagee under this Security Instrument. MERS is organized ancl existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Q -6A(WY) (00051 ® /.-1,1 A Paga1 01 15 IníliaIS;~ VMP MORTGAGE FORMS - (8001521,7291 Form 3051 1/01 1111111111111111111111 11111 1/1111111111111111111111111111111111111111111111 SECOND MORTGAGE \ ~;' ,t'(~1 ':·;1 ,~{"\ ,f.:' '2:~ ...,' '-....~ -<--~,~i.\....1~"'<; jJÎ rnc·r:{\') '.", ..JUJ (D) "Lender" is FREMONT INVESTMENT & LOAN Lender is a CORPORATION organized and existing under the laws of CALI FORN I A Lender's address is 2727 E IMPERIAL HIGHWAY, BREA CA 92821 (E) "Note" means tlle promissory note signed by Borrower ,md dated October 28, 2005 The Note states tlJat Borrower owes Lender Twenty-F i ve Thousand and No /100 -------- -- -- - --- - - - - ------- ---- - - - - - - -- - -- - - - --- --- - - - - - - - -.- - Do1lars (U.S. $ 25 , 000 . 00 ) plus interest. Borrower has promised to pay this debt in regular Perimlic Payments and to pay tlle debt in full not later than November 1, 2035 (F) "Property" means the property that is described below under the heading "Transfer of Rights in tile Property. " (G) "Loan" means the debt evidenced by tile Note, plus interest, ,my prepayment charges ancllate charges due under the Note, and all sums clue under this Security Instrument, plus interest. (II) "Riders" means all Riders to this Security Iustrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider D VA Rider D Condominium Rider D Planned Unit Development Rider D Biweekly Payment Rider D Second Home Rider D 1-4 Family Rider D Other(s) [specify] (I) "Applicable Law" means a1l contr01ling applicable federal, state ,md local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as we1l as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means an dues, fees, assessments and other charges that are imposed on Borrower or tile Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other tilan 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 autl10rize a financial 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. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other th,m insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, tlle Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepreSenl<ltions of, or omissions as to, the value and/or condition of tlle Property. (N) "Mortgage Insurance" means insurance protecting Lender against tlle nonpayment of, or default on, tlle Loan. (0) "Periodic Payment" means tlle regularly scheduled amount due for (i) principal and interest under tlle Note, plus (ii) any amounts under Section 3 of this SecurÍly Instrument. (P) "RESPA" means tlle Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as tlley might be amended from time 10 time, or any additional or successor legislation or regulation that governs tile same subject maller. As used in this Security Instrument, "RESP A" 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 RESP A. cD -6A(WY) (0005) ® Page 2 of 15 //;1' Initials: (¡/t . , Form 3051 1/01 t ''\., ("_ ;, .;r., L" <..(.)"'-)1 (i"J' :2) ~~'~ :c.1.' ~Q j:.:.r µ~ (" Ii n r.: "\ ,. " ..) '- '.' ¿~ \.' '. \) '-J 'J ~ (Q) "Successor in Interest of Borrower" means any party that has taken titie to tile Property, whetiler or not that party has assumed Borrower's obligations under Ùle Note and/or Ùlis Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of Ùle Loan, and all renewals, extensions and modifications of tile Note; and (ii) Ùle performance of Borrower's coven,mts and agreements under ùlis Security Instrument and tile Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to tile successors and assigns of MERS, WiÙl power of sale, Ùle following described property located in tile County of LINCOLN [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LOT 1 OF BEAR HOLLOW TWIN HOMES SUBDIVISION, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT NO. 393 FILED JUNE 20, 2000 AS INSTRUMENT NO. 866535 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. Parcel ID Number: 34192440026200 320 BEAR HOLLOW CIRCLE THAYNE ("Property Address"): which currently has tile address of [Street] [City] ,Wyoming 83127 [Zip Code] TOGETHER WITH an the improvements now or hereafter erected on tile property, ,md all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shaD also be covered by this Security Instrument. All of Ùle foregoing is referred to in ù1Ìs Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal titie to the interests gnmted by Borrower in ùlis Security Instrument, but, if necessary to comply WiÙl law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has Ùle right: to exercise any or all of ti¡ose interests, including, but not limited to, Ùle right to foreclose and sell Ùle Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS tilat Borrower is lawfully seised of tile estate hereby conveyed and has the right to mortgage, grant and convey Ùle Property and that the Property is unencumbered, except for encumbrances of record, Borrower warrants and will defend generally ùle titie to ùle Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants WiÙl limited variations by jurisdiction to constitute a uniform security instrument covering real property. tG -6A(WY) (0005) ® Page 3 0115 1i /,¡, Initials=< ..{.~1 II ; Form 3051 1/01 \ :Ç"""'-;:' Dß~¡.(.. ,r n n r~ ,'. r:- i.- ',) \.' J ',' J UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sh,ùl pay when due tJ1e principal of, and interest on, tJ1e debt evidenced by tJ1e Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under tJ1e Note and this Security Instrument shaH be made in U.S. currency. However, if any check or otJ1er instrument received by Lender as payment under tJ1e Note or tJJÌs Security Instrument is returned to Lender unpaid, Lender may require tJ1al any or ,ùl subsequent payments due under tJ1e Note and tJ1is Security Instrument be made in one or more of tJ1e 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 Note or at such other location as may be designated by Lender in accordance with tJ1e notice provisions in Section 15. Lender may return any payment or partial payment if tJ1e payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partÍ:.ll 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, tJ1en 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 witJ1Ín a reasonable period of time, Lender shall eiÙler apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outs[1U1ding principal balance under the Note 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 Note and ùlÎs Security Instrument or performing tJ1e covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as où1Crwise 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) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in tJ1e order in which it became due. Any remaining amounts shall he applied first to late charges, second to any other amounts due under this Security Instrument, and tJ1en to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and tJ1e late charge. If more Ùlan one Periodic Payment is outsl1U1ding, Lender may apply any payment received from Borrower to the repayment of tJ1e Periodic PaymenL~ if, and to the extent tJJat, each payment can be paid in full. To tJ1e extent tJ1at any excess exists after tJ1e payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in tJ1e Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change tJ1e amount, of tJ1e Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on tJ1e 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 clue for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbnU1ce on Ù1e Property; (b) leasehold payments or ground rents on tJ1e Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in acconhU1ce with tJ1e provisions of Section ]0. These items are called "Escrow Items." At origination or at any time during tJ1e term of the Loan, Lender may require tJ1at Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees ami assessments sha]] be an Escrow Item. Borrower shall promptly furnish to Lender all notices of anlOunts to be paid under this Section. Borrower shall pay Lender tJ1e Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or a]] Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of c:a -6A(WY) (0005) @ Page 4 of 15 Initials: (lt~1 ¡1 Form 3051 1/01 \J)? ~~,'¡ ~~,71 ft-Ì- ;:.,~,Z (' !\ r r: r \ C f' . ~ ) i.. ,) _' J ,_, U Funds has been waived by Lender and, if Lender requires, shaH furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemeclto be a covenant and agreement contained in this Security Instrument, as úle phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items direcúy, pursuant to a waiver, and Borrower fails to pay Ú1e amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount ,Uld Borrower shall ú1en be obligated under Section 9 to repay to Lender any such amount. Lender may revoke ú1e waiver as to any or all Escrow Items at any time by a notice given in accordance WiÚI Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under ú1is Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply ú1e Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate the amount of Funds due on Ú1e hasis of current data and reasonable estimates of expenditures of future Escrow Items or oÚ1envise in accordance with Applicable Law. The Funds shall be held in an institution whose (kposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is ,m institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay ú1e Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding and applying úle Funds, annmùly analyzing the escrow account, or verifying Ú1e Escrow Items, unless Lender pays Borrower interest on ú1e 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 Borrower ,my interest or earnings on ú1e Funds. Borrower and Lender can agree in writing, however, úwt interest shall be paid on úle Funds. Lender shall give to Borrower, without charge, an annual accounting of ú]e Funds as required by RESP A. If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for ú1e excess funds in accord,mce wiú] RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shaH notify Borrower as required by RESPA, and Borrower shall pay to Lender the [Ul10unt necessary to make up Ú1e shortage in accordance wiù] RESP A, but in no more than 12 monù11y payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monù11y payments. Upon payment in full of all SIlIns secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over ù1Ís Security Instrument, leasehold paymenL> or ground rents on ù]e Property, if any, and Community Assocjalion Dues, Fees, and Assessments, if any. To the extent Ù1atthese items are Escrow Items, Borrower shall pay them in Ù1C manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over ù1Ís Security Instrument unless Borrower: (a) agrees in writing to ùle payment of ù1e obligation secured by the lien in a manner acceptable to Lend;;r, hut only so long as Borrower is performing such agreement; (b) contests Úle lien in good faith by, or defends against enforcement of ù1e lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of ù1e lien while those proceedings are pending, but only until sllch proceedings are concluded; or (c) secures from Ù1e holder of the lien an agreement satisfactory to Lender subordinating ù1e lien to ù1Ís Security Instrument. If Lender determines that <111Y 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. Wiù1Ín 10 ~ -6A(WY) (0005) @ ;/1; ! tnitiats:_l/f Form 3051 1/01 P ag 8 5 of 15 \ , <Iii,;,.,(;"'¡Í-)'~> ~~ '.~~, {1 ß..G~\-..¡i r !ì r ("~ ;' ~'! I ',j U Û ¡) J days of Ù1e date on which Ù1at notice is given, Borrower shall satisfy Ù1e lien or take one or more of Ù1e actions set forù1 above in Ù1is Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection wiù1 ùlÍs Loan. 5. Property Insurance. Borrower shaH keep Ù1e improvements now exisLÍng or hereafter erected on Ù1e Property insured against loss by fire, hazards included wiùlÍn Ùle term "extended coverage," and any oÙ1er hazards including, but not limited to, earù1quakes and floods, for which Lender requires insurance. This insurance shall be maintained in Ù1e amounts (including deductible levels) and for Ù1e periods Ù1at Lender requires. What Lender requires pursuant to Ù1e preceding sentences can change during Ùle term of the Loan. The insurance carrier providing Ù1e insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shaU not be exercised unreasonably. Lender may require Borrower to pay, in connection wiù1 ù1is Loan, eiù¡er: (a) a one-time charge for flood zone determinaLÍon, certification and tracking services; or (b) a one-time charge for t100d zone determination and cenificaLÍon services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determinaLÍon or certification. Borrower shall also be responsible for Ùle payment of any fees imposed by Ù1e Federal Emergency Management Agency in connection wiù1 Ù1e review of any Hood zone determination resulting from an objecLÍon by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option ru1d Borrower's expense. Lender is under no obligation to purchase any particular type or runount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or Ùle contents of Ù1e Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges Ù1at Ùle cost of the insurance coverage so obtained might significanLly exceed tlle cost of insurance Ù1at Borrower could have obtained. Any amounts disbursed by Lender under ù1is Section 5 shall become additional debt of Borrower secured by Ù1is Security Instrument. These amounL~ shall bear imerest at Ù1e Note rate from Ù1e date of disbursement and shall be payable, with sllch interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shaU include a standard mortgage clause, and shall name Lemler as mortgagee and/or as an additional loss payee. Lender shaU have Ù1e right to hold Ù1e policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender aU receipL~ of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not oÙ1erwise required by Lender, for damage to, or destrucLÍon of, Ù1e Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In Ù1e event of loss, Borrower shaU give prompt notice to Ù1e insurance carrier and Lender. Lender may make proof of loss if not made prompùy by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not Ù1e underlying insurance was required by Lender, shaU be applied to restoration or repair of Ù1e Property, if Ùle restoration or repair is economically feasible and Lender's security is not lessened. During sllch repair and restoraLÍon period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure Ù1e work has been completed to Lender's satisfaction, provided Ù1at such inspecLÍon 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 Ù1e 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 Ù1ird parties, retained by Bon-ower shaU not be paid out of Ù1e insurance proceeds and shall be the sole obligaLÍon of Borrower. If Ù1e restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to C -6A(WY) (0005) @ Page 6 of 15 /'/// Initials: ( ¡I./ I Form 3051 1/01 \ .. A¡ :~~: {; ;J; 2; .- nrt:.': ;"¡ Q """.1 \.~ J '.! (] the sUlns secured by ù1is Security Instrument, wheù1er or not ù1en due, with Ùle excess, if any, paid to Borrower. Such insurance proceeds shaH be applied in Ù1e order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate ,md settle any available insurance claim and related mallers. If Borrower does not respond wiù1Ín 30 days to a notice from Lender that Ùle insurance carrier has offered to settle a claim, then Lender may negotiate and setÙe Ùle claim. The 30-day period wi1l begin when the notice is given. In eiÙler event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to ,my insurance proceeds in an amount not to exceed the amounts unpaid under ù1e Note or ùlÎs Security Instrument, and (b) any oùler of Borrower's rights (oùler ùlan ù1e right to any refund of unearned premiums paiel by Borrower) under all insurance policies covering ù1e Property, insofar as such rights are applicable to Ùle coverage of the Property. Lender may use the insurance proceeds eiù1er to repair or restore Ù1e Property or to pay amount, unpaid uneler the Note or ù1is Security Instrument, whether or not then elue. 6. Occnpancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence wiùlÎn 60 days after the execution of ùlis Security Instrument and shall continue to occupy the Property as Borrower's principal resielence for at least one year after Ù1e date of occupancy, unless Lemler otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. 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 ¡he Property. WheÙ1er 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 determined pursuant to Section 5 Ùwt repair or restoration is not economically feasible, BOD'ower shall prompily repair Ùle Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection wiùI damage to, or ù1e tlking of, the Property, Borrower shall be responsible for repairing or restoring Ù1e Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for Ù1e repairs and restoration in a single payment or in a series of progress payments as Ù1e work is completed. If Ùle 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 Ù1e Property, If it has reasonable cause, Lender may inspect the interior of Ù1e improvements on Ù1e Property. Lender shall give Borrower notice at ù1e time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shal1 be in default if, during ùle Loan application process, Borrower or any persons or entities acting at the direction of Borrower or wiùI Borrower's knowledge or consent gave material1y false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender WiÙl material information) in connection WiÙl the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) ùlere is a legal proceeding ù1at might significantly affect Lender's interest in Ù1e Properly and/or rights under ù1is Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over ùlÎs Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Properly, [hen Lender may cIo ancI pay for whatever is reasonable or appropriate to protect Lender's interest in the Property ,md rights under ù1is Security Instrument, including protecting and/or assessing Ù1e value of the Property, and securing and/or repairing the Property. Lender's actions can include, but arc not limited to: (a) paying any slims secured by a lien which has priority over ùlÎs Security Instrument; (b) appearing in court; ami (c) paying reasonable cmÞ. -6A(WY) (0005) @ Page 7 0115 Initials: (A~i . \ Form 3051 1/01 t :C "þ "» ü ~~~~ í "r ('~ ~... 3· {\ J ~ ..-. j ,! \. \., ..,J \, "" '. / attorneys' fees to protect its interest in the Property ancl/or rights under this Secnrity Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is IIotlimited to, entering Ù1e Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or oÙ1er code violations or dangerous conditions, and have utilities turned on or off. AlùlOugh 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 Ù1at Lender 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 amounts shall bear interest at Ù1e Note rate from Ùle date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If ù1is Security Instrument is on a leasehold, Borrower shall comply with all Ù1e provisions of Ù1e lease. If Borrower acquires fee title to Ù1e Property, Ù1e leasehold and Ù1e fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making Ù1e Loan, Borrower shall pay the premiums required to maintain Ù1e Mortgage Insurance in effect. If, for any reason, Ù1e Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insunmce and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay Ù1e premiums required to obtain coverage substantially equivalent to Ù1e Mortgage Insurance previously in effect, at a cost substantially equivalent to Ù1e cost to Borrower of tl1e Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender Ù1e mnount of Ùle separately designated payments Ù1at were due when Ù1e insunmce coverage ceased to be in effect. Lender will accept, use and retain Ù1Cse payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwiÙlst¡mding Ù1e fact Ù1at the Lom1 is ultimately paid in full, and Lender sh,ùl not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the mnount and for the period Ù1at Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires sepmately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and BOITower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance wiù1 m1Y written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. NOù1Ìng in ù1Ïs Section 10 affects Borrower's obligation to pay interest at Ù1e rate provided in Ù1e Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay Ù1e Loan as agreed. Borrower is not a party to Ù1e Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, ,md may enter into agreements with other parties that share or modify Ù1eir risk, or reduce losses. These agreements me on terms ,md conditions that are satisfactory to Ù1e mortgage insurer and Ù1e other pmty (or parties) to Ù1ese agreements. These agreements may require ¡he mortgage insurer to make paymenls using any source of funds Ùmt Ù1e mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of Ù1ese agreements, Lender, any purchaser of Ù1e Note, another insurer, any reinsurer, any oÙ1er entity, or any affiliate of m1Y of the foregoing, may receive (directJy or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of Ù1e premiums paid to Ù1e insurer, Ù1e arrangement is often termed "captive reinsurance." Further: (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 will not entitle Borrower to any refund. C -6A(WY) (0005) @ Paga 8 of 15 /:;~ Inìtlal~ Form 3051 1/01 " !C "0> ''.'¡, ¡'. \Cb :l...;I.w r~ 'ì r t'·· " 0 ~.' f..) \) ,J 1 \ (b) Any such agreements will not affect the rights Borrower has - if any - with resped to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any I\lortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. A]] !vliscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If Ùle Property is damaged, such Misce]]aneous Proceeds shall be applied to restoration or repair of the Property, if Ù1e restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have Ùle right to hold such Misce]]aneous Proceeds until Lender has had an opportunity to inspect such Property [0 ensure Ù1e work has been completed to Lender's satisfaction, provided Ù1at such inspection shall be undertaken promptly. Lender may pay for tlle repairs and restoration in a single disbursement or in a series of progress payments as Ù1e 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 Ù1e restoration or repair is not economically feasible or Lender's security would be lessened, Ù1e Miscellaneous Proceeds shall be applied to úle sIlIns secured by ú1is Security Instrument, whether or notthcn due, with Ù1e excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in Ù1e order provided for in Section 2. In Ù1e event of a total taking, destruction, or loss in value of ú1e Property, Ù1e Misce]]aneous Proceeds shan be applied to the sums secured by ú1Ís Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In Ù1e event of a partial taking, des!ruction, or loss in value of the Property in which the fair market value of Ùle Property immediately before Ù1e partial taking, des!ruction, or loss in value is equal to or greater Ù1an the amollnt of the sums secured by ù1Ís Security Ins!rument immcdiate1y before Ù1e partial taking, des!ruction, or loss in value, unless Borrower and Lender otherwise agree in writing, Ù1e sums secured by ù1Ïs Security Instrument shall be reduced by Ù1e amount of ú1e Misce]]aneous Proceeds multiplied by Ùle following fraction: (a) Ù1e total mnount of Ù1e SIlIns secured immediately before the partial taking, destruction, or loss in value divided by (b) Ù1e fair market value of úle Property immediately before Ùle partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In Ù1e event of a partial taking, destruction, or loss in value of the Property in which the fair market value of Ù1e Property immediately before Ù1e partial taking, destruction, or loss in value is less Ù1an thc amount of Ùle sums secured immediately before Ù1e partial taking, des!ruction, or Joss in value, unless BOlTower tmd Lender otherwise agree in writing, Ù1eMiscellaneous Proceeds shall be applied to the sums secured by Ù1is Security Ins!rumenL wheù1er or not ú1e sums are Ù¡en due. H Ù1e Property is abandoned by Borrower, or if, after notice by Lender to Borrower Ù1at the Opposing Party (as defined in Ù1e next sentence) offers La make an award to sell1e a claim for damages, Borrower fails to respond to Lender wiùlÌn 30 days after ú1e date Ù1e notice is given, Lender is authorized to coUect and apply Ù1e Miscellaneous Proceeds either to restoration or repair of the Property or to Ùle SUlns secured by this Security Instrument, wheù1er or not ÙJen due. "Opposing Party" means Ú1e Ù1ird party Ù1at owes Borrower Miscellaneous Proceeds or Ùle party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, wheÙ1er civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or oÙ1er material impairment of Lender's interest in Ù1e Property or rights under ú1Ìs Security Ins!rumenl. Borrower can cure such a default tmd, if acceleration has occurred, reinstate as provided in Section 19, by causing Ù1e action or proceeding to be dismissed wiÙ1 a ruling Ù1at, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in Ù1e Property or rights under this Security Instrument. The proceeds of any award or claim for damages ú1at are attributable to Ù1e impairment of Lender's interest in Ú1e Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of Ù1e Property shall be applied in the order provided for in Section 2. G -6A(WY) (0005) @ Page 9 0115 .---/..¡/ Initials: {/ > f Form 3051 1/01 " '::Fl' ':~~;:~ (, (1 r r::: ~( "1 \.. ,) \J J .1. .j¡" 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the LÎme 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 re]ease ùle liability of Borrower or any Successors in Interest of Borrower. Lender sha]] not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amorLÎzaLÎon of the sums secured by this Security Instrument by reason of any demand made by ùle origina] Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, wiÙ10ut limiætion, Lender's acceptance of payments from third persons, enLÎties or Successors in Interest of Borrower or in mnounts less than Ùle amount Ùlen due, shall not be a waiver of or preclude the exercise of ,my right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint ,md 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-signer's interest in Ùle Property under Ùle terms of this Security Instrument; (b) is not persona]]y obligated to pay ùle sums secured by ù1Ís Security Instrument; and (c) agrees ù¡at Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations WiÙl regard to the terms of ùlis Security Instrument or ùle Note without Ùle co-signer's consent. Subject to Ùle provisions of Section 18, mlY Successor in Interest of Borrower who assumes Borrower's ob]igations under ùlis Security Instrument in writing, ,md is approved by Lender, sha]] obtain all of Borrower's rights ,md benefits under this Security Instrument. Borrower shan not be reI eased from Borrower's obligations and liability under ù1Ís Security Instrument unless Lender agrees to such reJease in wriLÎng. The covenants and agreements of ùlis Security Instrument shaJl bind (except as provided in Section 20) ,md benefit ùle successors ,md assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and righls under ù1Ís Security Instrument, including, but not limited to, attorneys' fees, properly inspection and valuaLÎon fees. In regard to ,my oùler fees, ùle absence of express authority in ù1Ís Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on ùle charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by App]icable Law. If Ùle Loan is subject to a law which sets maximum Joan charges, and ùlat law is fina]]y interpreted so ÙUlt the interest or Oùler Joan charges coJlected or to be collected in connecLÎon with the Loan excec(! Ùle permitted limits, Ùlen: (a) any such loan charge shal1 be reduced by the amount necessary to reduce ùle charge to the permitted limit; and (b) any sums already coJlected from Borrower which exceeded permitted l¡mils will be refunded to Borrower. Lender may choose to make ù1Ís refund by reducing Ùle principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, ùle reduction will be treated as a partia1 prepayment without any prepayment charge (wheÙler or not a prepayment charge is provided for under Ùle Note). Borrower's accepænce of any such refund made by direct payrllent to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. An notices given by Borrower or Lender in connection with ùlis Security Instrument must be in writing. Any notice to Borrower in connection with ù1is Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actua11y 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 otherwise. The notice address shaH be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shal1 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 ùlrough ù¡at specified procedure. There may be only one designated notice address under ùlis Security Instrument at anyone time. Any notice to Lender shall be given by deJivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated ,mother address by notice to Borrower. Any notice in connection WiÙl this Security Instrument sha11 not be deemed to have been given to Lender until actually received by Lender. If any notice required by ù1Ìs Security Instrument is also required under Applicable Law, the App1icable Law requirement will satisfy the corresponding requirement under this Security Instrument. <a -6A(WY) (0005) @ Page100115 Inilials: eft; Form 3051 1/01 ...->,.r}i j:,-.../J)..:.ii ('Irr:;·) ') ';\JUJ..I'<IJ 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Properly is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might expliciùy or impliciùy 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 ùwt any provision or clause of ù1is Security Instrument or ùle Note contlicts wiùI Applicable Law, such conJlict shall not affect other provisions of ùlis Security Instrument or the Note which can he given effect withoul the conflicting provision. As used in Ùlis Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of Ùle feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion WithOllt any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in ùlis Section 18, "Interest in the Property" means any legal or beneficial interest in Ùle 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 ùle transfer of title by Borrower at a future date to a purchaser. If all or any part of ùle Property or any Interest in ùle Properly is sold or tr<msferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or tnmsferred) WiÙlout Lender's prior wrillen consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, ùlÎs option shaJl not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises Ùlis option, Lender shall give Borrower notice of acceleration. The notice shaH provide a period of not less ùlan 30 days from the date ùle notice is given in accc)f(hmce WiÙl Section 15 wiùlin which Borrower must pay aH sums secured by ù1is Security Instrument. If Borrower fails to pay Ùlese sums prior to the expiration of ùlis period, Lender may invoke any remedies permilled hy this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shaH have Ùle right to have enforcement of ùlÎs Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of ùle Property pursuant to any power of sale contained in ù1Ìs 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 ÙUlt Borrower: (a) pays Lender all SIUns which Ùlen would be due under this Security Instrument and ùle Note as if no acc:clerat.ion had occurred; (b) cures any default of any other covenants or agreements; (c) pays a1l expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and oÙler fees incurred for the purpose or protecting Lender's interest in the Property ,md rights under this Security Instrument; wId (d) takes such action as Lender may reasonably require to assure Ù¡at Lender's interest in the Properly and rights under ù1is Security Instrument, and Borrower's obligaÜon to pay ùle 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 ùle foJ1owing 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 Bon-ower, [his Security InsITument and obligations secured hereby sha1l remain fully effective as if no acceleration had occurred. However, ùlis right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicerj Notice of Grievance. The Note or a pWlial interest in the Note (together WiÙl ù1Ís Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in Ùle entity (known as tlle "Loan Servicer") tllat colJects Periodic Payments due under Ùle Note and ù1is Security Instrument and performs other mortgage loan servicing obligations under Ùle Note, ùlis Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of Ùle Note. If ùlere is a change of ùle Loan Servicer, Borrower wilJ be given written notice of the change which will stme the name and address of the new Loan Servicer, Ùle address to which payments should be made and W1Y oÙler information RESPA requires in connection wiùI a Initials: 0/ / Form 3051 1/01 tQ -6A(WY) (0005) @ Paga 11 of 15 \ ~~:r (5 ;::~ 2; ¡nrr:, f) i.. ',..1 \,.: 01. ..) notice of transfer of servicing. If the Note is sold and thereafter ÙJe Loan is serviced by a Loan Servicer other ÙJan ÙJe purchaser of ÙJe Note, ÙJe mortgage loan servicing obligations to Borrower will remain wiÙJ ÙJe Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by Ù1e Note purchaser. NeiÙJer Borrower nor Lender may commence, join, or be joined to any judicial action (as eiÙ¡er an individual litigant or ÙJe member of a class) that arises from ù1e où1er party's actions pursuant to this Security Instrument or ÙJat alleges ÙJat Ù1e oÙJer party has breached any provision of, or any duty owed by reason of, ÙJis Security Instrument, until such Borrower or Lender has notified Ù1e oÙ1er party (wiù1 such notice given in compliance with Ù1e requirements of Section 15) of such alleged breach and afforded the oÙ1er party hereto a reasonable period after Ù1e giving of such notice to take cOITective action. If Applicable Law provides a time period which must elapse before certain action can be taken, ÙJat time period will be deemed to be reasonable for purposes of ù1is paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy ÙJe notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in ù1is Section 21: (a) "Hazardous Substances" are those subsUmces defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and ÙJe following substances: gasoline, kerosene, oÙJer 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 Ù1e jurisdiction where the Property is located that relate to healùJ, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "EnvirolJmental Condition" means a condition ù1at can cause, contribute to, or oÙJerwise trigger an EnvironmenuJl Cleanup. Borrower shall not cause or permit ÙJe presence, use, disposal, storage, or release of allY Hazardous Substances, or threaten to release any Hazardous Substances, on or in Ù1e Property. Borrower shall not do, nor allow anyone else to do, anYÙ1ing affecting the Property (a) ÙJat is in violation of any EnvironmentLù Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition ÙJat adverse]y affecL~ ù1e value of ù1e Property. The preceding two sentences shall not apply to ÙJe presence, use, or storage on ÙJe Property of small quantities of Hazardous Substances ÙJat are generally recognized to be appropriate to normal residential uses and to maintenance of ÙJe Property (including, but not limited to, hazardous subsumces in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or oÙJer 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, Lmy spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by ù1e presence, use or release of a Hazardous Substance which adversely affects the value of Ù1e Property. If Borrower learns, or is notified by any governmental or regulatory aUÙlOrity, or any private party, ÙJat any removal or other remediation of any Hazardous Substance affecting tlJe Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance wiÙJ Environmental Law. Notl¡jng herein shall create any obligation on Lender for an Environmenul1 Cleanup.I G -6A(WY) (0005) ® //l/,l Initials: (/'1/ PagB12of15 Form 3051 1/01 C:C}0514 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: n. Acceleration; Remedies. Lender 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; (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 accelaation 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 22, 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 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonahle attorneys' fees; (h) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shaH release this Security Instrument. Borrower shaH 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 Lwd the charging of tl¡e fee is permitted under Applicable Law. 24. 'Waivers. Borrower releases and waives all rights under and by virtue of tl1e homestead exemption laws of Wyoming. ~-6A(WY) (0005) Œ> Page130115 4t ./ / / Initials:(ÎfTI- T Form 3051 1/01 \ (5·, ~:2~;~ r(ìnr:~ r-: '-' ,)\.!u.!..J BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: ~-6A(WY) (0005) @ (i:rrn:( /' /Î/l- (}1 o./?:'(P ¿TANIE M. MALONE ' (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Page14ot15 (Seal) -Borrower (Seal) -Borrower (Seal) - Borrower (Seal) -Borrower (Seal) -Borrower Form 3051 1/01 t c,J> ..,,-, .-..,...-:,.....; ,...."~.,, r· n 1"1 r:: J n '., U U J.( ü ST ATE OF WYOMING, Lincoln County 55: The foregoing instrument was acknowledged before me this 1st clay of November, 2005 by Jeanie M. Malone My Commission Expires: 9-15-07 /<!Jf04¿CV /V~ /:£[iVÞ:1~~ Notary Public / CGLORIA K BYERS· NOTARY PUBLIC County of é.:~1' State .of Lincoln ~¥:Ÿ Wyoming My CommissIon E~p'ires Sept. 15, 2007 ~ -6A(WY) (0005) @ PagB150f15 -II ///(.) , 'nitia'S'r_ Form 3051 1/01 't