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Home My WebLink About913690 After Recording Return To: GMAC Mortgage Corp. 100 vlitmer Road Harsham, PA 19044-0963 ATTN: Records Management r'(ì{ì'~9' 0 '.' '\) \..,' \) ()íJ- RECEIVED 11/14/2005 at 4:08 PM RECEIVING # 913690 BOOK: 604 PAGE: 690 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Spnœ Ahove This Line Fur Rel'onling Datlll MORTGAGE L( 1 DEFINITIONS LUllnNu. 589061605 MIN 1000375-0589061605-8 ~.<.., , t Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16, (A) "Security Instrument" means this document, which is dated November 8 , 2005 , together with all Riders to tlJÍs document. (B) "Borrower" is Michael J. Long and Cheryl A, Long, husband and wife 1); t.,. Borrower is the mortgagor under tllis Security Instll1lllent. (C) "~IERS" is Mortgage Electronic Registration Systems, Inc. ¡vIERS is a separate corporation tllat is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. M ERS is organized and existing under the laws of Delaware, and has an address and telephone number of P ,0. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMING --Singk Fanúly-- FaJUúe Mae/Freddie Mac 1 1~{2' UNIFORM INSTRUMENT F.,·m 3051 1101 'I (Page 1 of 18) 3249611 04 Initials: (!, -' ¡ 346 GJ\1ACI\1 - Cl\IS.0042. WY (0001) - - 'ì:,. \(,! ¡ ,.-¡, r Q..' ¡n .~:.' 'D' ~¡ U (" !") r .~ r¡ ~ '. '" \,' lJ ~) .1. (D) "Lender" is GMAC Mortgage Corporation Lender is a Corporation laws of Pennsylvania 100 Witmer Road, P,O, Box 963, Horsham, PA organized and existing under the . Lender's address is 19044 (E) "Note" means the promissory note signed by Borrower and dated November 8, 2005 . The Note states that Borrower owes Lender Seventy Three Thousand Two Hundred and 00/100 Dollars (U.S. $ 73,200.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the ckbt in full not later than December I, 2035 (F) "Property" means the property that is described below under the heading "Transfer of Rights in Ule Property. " (G) "Loan" means Ule debt evidenced by Ule Note, plus interest, any prepayment charges and late charges due under ule Note, and all sums due under uIis Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: D D D Adjustable Rate Rider Balloon Rider Other(s) [specify] D Condominium Rider D D Biweekly Payment Rider D D Planned Unit Development Rider Second Home Rider 1-4 Family Rider (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as wen as all applicable final, non-appealable judicial opinions, (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominiulU association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a tGlIIsaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a 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, (1\J) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, Ule Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. \VYOJ\HNG .. Single Family·. Foilil,;e Mae/F""ddie Ma, UNIFOR!\! INSTRU!\IENT Form 3051 1/01 In l. _ ClJ GMACM - CJ\fS.()()':2.\VY (0001) (Page 2 of 18) IlIitiaIS:~, ~. ; c;,¡...} ;~(L!¡U--- ''<..J'v' (' /... ,... i"\ n () ;~, G~)i:' (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (1) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.s.e. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F .R. Part 3500), as they might be amended tì'om time to time, or any additional or successor legislation or regulation Ùlat governs the same subject matter. As used in this Security Instrument, "RESP A" refers to all requirements and restrictions that are imposed in regard to a "fedèrally related mortgage Joan" even if Ùle Loan does not qualify as a "federally related mortgage loan" under RESP A. (Q) "Successor in Interest of' Borrower" means any party that has taken title to the Property, wheÙler or not Ùlat party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF R1GHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and moditications of Ùle Note; and (ii) Ùle performance of Borrower's covenants and agreements under ùlis Security Instrument and Ùle 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 Ùle successors and assigns of MERS, with power of saJe, the following described property located in Ùle County [Type nf Recording Jllrisdktionl of Lincoln [Nume of Recording Jurisdictionl SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF. which currently has the address of 1958 Muddy String Road, [Street} Thayne , Wyoming 83127 ("Property Address"): [City} /Zip Cude} TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrumellt as the "Property." Borrower understands and agrees Ùlat MERS holds only legal title to the interests granted by Borrower in ù1Ís Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has Ùle right: to exercise any or all of those interests, including, but not limited to, the 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. GJ\IACJ\I - CMS.0042.\VY (0001) (Page 3 of 18) \\'YOI\ lING -- Sjll~le Family. FcuU1ie Mae/Freddie Mac UNIFORM IN~1'RlI1IENT Form 3051 1/01 ]nitillls: t ; ';'-,1 T' J~hU"""") "~"' ,(} ,~.j It !-. ("i {~ J~ ,í'. ~t \, ~ .' \ U~).j BORROWER COVENANTS that Borrower is lawfully seised of Ùle 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 Ù1e title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORlvI COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Hems, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evideuced by Ù1e Note and any prepayment charges and late charges due under the Note, Borrower shall also pay funds for Escrow Items pursuant to Sectioll 3. Payments due under the Note ami this Security Instrument shall be made in U .S, currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender nillY require that any or all subsequent payments due under the Note and this Security InstIlJment be made in one or more of the following f()fms, as selècted 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, instnul1entality, 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 otlJer location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments an: insuftìcient to bring the Loan current. Lender may accept any payment or partial payment insuftìcie:nt to bring the Loan curre:nt, without waiver of any rights hereundèf or prejudice to its rights to rc:fuse such payment or partial payme:nts in the future, but Lender is not obligated to apply such payments at ùJe: time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under Ùle 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 this Security Instrument or performing the covenants and agreements secured by this Security InstnJInent. 2. Application of Payments or Proceeds. Except as otherwise described in tlJis Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest clue uncleI' tlle Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment ill the order in which it became due. Any remaining amollnts shall be applied first to late charges, second to any other amounts due under this Security Instrument, ancl tllen to reduce the: principal balance of the Note. GJ\lACI\f - C1\1S.00-l2.WY (0001) (Page 4 of 18) LOAN NO: 589061605 \VYOJ\HNG -- Sin¡;le F,unily -- FalUùe Mae/Freddie ~rac UNIFORM INS'mUMENT Form 3051 1/01 Initials: t!JL-/lt¡,q?, V ¡ '., . ~ <r (''1 ,n '" \\ <,,-' ',', .\ :,,\ -'"I~ ~ "-.! J ,_ _)_ __. '---,' "'--I .~ 'iJ ,~, ..... ( ~~ (~ ~_""\ .~~.~ \: \, L·~) '1 If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufticient amount to pay any late charge due, the payment may be applièd to the ddinquent payment and the late charge. If more ù1an one Périodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after ù1e 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 tirst to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or ìvliscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments, 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (ùle "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other j tems which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) ]easeho]d payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) tvfortgage Insurance premiums, if any, or any stuns payable by Borrower to Lender in lieu of the payment of l\lortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees, and assessments shall be an Escrow Item. Borrower shall promptly funÜsh to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shaU pay directly, when and where payable, Ù1e amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may n:quire. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as Ùle phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay snch amount and Borrower shaJl Ù1en 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 with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under ù1is Section 3. Lender may, at any time, coJlect and hold Funds in an amount (a) suftìcient to permit Lender to apply Ù1e Funds at tl1e time specitìed under RESP A, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or oÙ1erwise in accordance with Applicable Law. G1\fACM - C1\fS.0042.WY (0001) (Page 5 of 18) LOAN NO: 589061605 "'YOl\tING ,- Single Fanúly -. Famie Mae/Freddie 'lac UNIFORM IN,'TRIJMENT Form 3051 JlOI Initials: a ¿ --- (( P, ') ,in. '-b ~'ju ro, rj0 ("\ r t f..,.. '. ,: (, 0 ~j ,j The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lellder, if Lender is an institutioll whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specitied under RESP A. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, l1lùess 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 Borrower 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, WiÙlOut charge, an annual accounting of ùre Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as detined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender Ùre amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If ùrere is a deticiency 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 up the deticiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Chat'ges; Liens. Borrower shall pay all taxes, assessments, charges, lilIes, and impositions attributable to Ùle Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To Ùre extent that these items are Escrow items, Borrower shall pay ùlem in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instmment unless Borrower: (a) agrees in writing to the payment of the obligation secured by tlre lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests tlre lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of Ù1e Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a nutice identifying the lien. Within 10 days of the elate on which that notice is given, Borrower shall satisfy Ùre lien or take one or more of the actions set forth above in ùlÍs Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax veritication and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shalJ keep the improvements now existing or hereafter erected on the Property insured against loss by tire, hazards included within the term "extended coverage," and any oÙler hazards including, but not limited to, earthquakes and tloods, for which Lender requires insurance. This insurance shall be maintained in the amounts \VYOI\IING -- SiJJ¡;1e PiUllily '. PiUUÚ" M.e!Proddie Mac UNIFORM INSr/{II~,IENT Form :\051 1/01 Gl\fAC1\f ' C1\fS.0042. WY (0001) (Page 6 of 18) Initials: ') (fL.. !)(") I', i.:/ ¡-It. _,J r .. .\) '-'¡"'U' , ':~, ~:; 'ti:' ~.j ,. ,...... ,~~ ;" ,r. 0 ,!LU~¡U (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably, Lender may require Borrower to pay, in connection wÜh this Loan, either: (a) a one-time charge for t100d zone determination, certification and tracking services; or (b) a one-time charge for llood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certitication. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the cowrages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of Ùle Property, against any risk, hazard or liability and might provide greater or lesser coverage Ùlan was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained, Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instnllnent. These amounts shall bear interest at the Note rate from Ù1e date of disbursement and shall be payable, with such 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, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold Ù1e policies and renewal certiticates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal 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 illsurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lellder has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for Ù1e repairs and restoration in a single payment or in a series of progress payments as Ùle 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 011 such proceeds. Fees fÖr public adjusters, LOAN NO: 589061605 \VYOJ\flNG .. Smgle Family -- Fannie Mae/Freddie Mac UNIFORM IWiTFUMENT Form ]051 1/01 GMACM - CJ\IS.0042. WY (0001) (Page 7 oj 18) I nit ¡!lls: (AL /vCf,1 i // ! "'",1 ". '1-' ~:¡ IUJ or other third parties, retained by Borrower shall not be paid out of Ùle insurance proceeds and shall be ùle sole obligation of Borrower. If Ole restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, wheùler or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be app]ied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and sett1e any available insurance claim and related matters. If Borrower does not respond wiùlin 30 days to a notice fì-om Lender that the insurance carrier has offered to settle a claim, Ùlen Lender may negotiate and settle Ùle claim. The 3D-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amouot not to exceed the amounts unpaid under Ùle Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering Ùle Property, insofar as such rights are applicable to the coverage of the Property, Lender may use the insurance proceeds either to repair or restore Ùle Property or to pay amounts unpaid under ùle Note or ùlÍs Security Instrument, whether or not tllen due. 6. Occupancy. Borrower shall 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 Ole Property as Borrower's principal residence for at least one year after ùle date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably wiùlheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, l\Iaintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair Ole Property, allow tlle Property to deteriorate or commit waste on Ole Property. Whether or not Borrower is residing Ül 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 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid furtller deterioration or damage. If insurance or condemllation proceeds are paid in connection with damage to, or the taking of, the Propèrty, Borrower shall be responsible for repairing or restoring the Property only if Lender has re]eased proceeds for such purposes. Lender Illay disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not reJieved of Borrower's ob]igation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property, Lender shall give Borrower notice at the time of or prior to sHch an interior inspèction specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shal] be in default if, during the Loan application process, Borrower or any pasons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material intÒrmation) in ',VYUI\IING .. Single Family -- F,uuÜe Mae/Freddie ¡,lac UNIFORM INSTRI IMENT Form 5U51 1/01 " fJ" ( (j Gl\IACM - CI\IS.00'-12.WY (0001) (Page 8 of 18) Initials: ~ .. (', "-'¡ n ''"\'-1 t·,8- ; \ U ~I J "'": Eiü (' '" : .' r ,,\ (~ Q ,,\'U\.iU connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal resi dence . 9. Protection of Lender's Interest in the Property and Rights Under this SeclJI'ity Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instl1lment, (b) Ùlere is a legal proceeding that might signitïcalltly affect Lellder'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 uf a lien which may attain priority over this Security IlIstl1ll11ent or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in Ùle Property and rights under this Security Instrument, including protecting and/or assessing Ùle value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are Hot limited to: (a) paying any sums secured by a lien which has priority over ù1Ís Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in ùle Property and/or rights under this Security Instrument, including its secured position in a bankruptcy 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 code violations or dangerous conditions, and have utilities turued on or off. Although Lender may take action under ù1Ís Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or a] actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 sha] become additional debt of Borrower secured by this Security InstnJIuent. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If ùlis Security Instnnnent is on a leasehold, Borrower shall comply with all the provisions of Ùle lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insnrance as a condition of making ùle Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, ùle Mortgage Insnrance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay ùle premiums required to obtain coverage substantially equivalent to Ùle Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent lvfortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of Ùle separately designated payments that were due when Ùle insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance, Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is 1IItiJlllltely paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the LOAN NO: 589061605 ~ \VYOI\IlNG u Single f;unily u Famie Mae/Freddie Mac UNIFORM 1N;,î'RUMENT Form 3051 1/01 'I)" ' GI\IACI\I - CJ\1S.0042. \\TY (OOOI) (Page 9 of 18) Initials: Ú!l_ / t),.· - J' . f ¡' , ~~~,I: ':5' :;) 0 ......_~ /.....'~ rt n " ,: U U ~ì {J amount and for th~ p~riod that L~nder r~quir~s) provid~d by an insur~r s~kclèd by L~nd~r again b~comes availabl~, is obtain~d, and L~nd~r r~quir~s s~parately d~signat~d payments toward the premiums for Mortgage Insurance. If L~nd~r required Mortgag~ Insurance as a condition of making the Loan and Borrow~r was required to mak~ s~parat~ly designated paym~nts toward th~ premiums for Mortgag~ Insuranc~, Borro\V~r shall pay th~ pr~miul11s r~quir~d to maintain Mortgag~ Insurance in effect, or to provide a non-r~fundabl~ loss Iés~rv~, until the Lendèf'S requirement for Ivlortgage Insurance ~nds in accordanc~ with any writt~n agre~m~nt betw~en Borrow~r and Lelld~r providing for such termination or until termination is r~quir~d by Applicabl~ Law. Nothing in ù1is S~ction 10 affects B()rrow~r's ohligation to pay int~œst at the rate provid~d in the Note. Mortgage Insurance reil11burs~s Lend~r (or any ~nti ty that purchases Ùl~ Note) for certain losses it may incur if Borrower does not r~pay th~ Loall as agr~ed. Borro\V~r is not a party to Ùle Mortgage Insurance. Mortgage insm~rs evaluat~ th~ir total risk on all such insurance in force from tim~ to time, and may ~nter into agr~~m~nts with other parti~s that share or lllodify th~ir risk, or r~duc~ losses. Th~s~ agreements are on t~rms and conditions that ar~ satisfactory to th~ mortgage insurer and the oÙler party (or parties) to th~se agreements. These agre~l11~llts may r~qLlire th~ mortgage insur~r to make paym~nts using any source of funds that the mortgage insurer may have available (which lllay include funds obtain~d from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any aftiliate of any of the foregoing, may receive (diœctly or indirectly) amounts that derive from (or lllight he characterized as) a portion of Borro\V~r's payments for Mortgag~ Insurance, in exchang~ for sharing or modifying the mortgag~ insur~r's risk, or reducing losses. If such agreeJ1lwt provid~s Ù1at an aftì]iat~ of Lend~r takes a shar~ of the insurer's risk in ~xchang~ for a share of Ù1~ pr~tlliums paid to th~ insurer, Ùle arra]g~nlent is often termed "captiv~ reinsuranc~." Furth~r: (a) Any such agreements will not affect the amounts that norrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount norrower will owe for Mortgage Insurance, and they will not entitle narrower to any refund. (b) Any such agreements will not affect the rights norrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, andlor to receÏ\'e a ¡'efund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All tvfiscellaneolls Proceeds are h~reby assigned to and shall be paid to Lender. GMACI\I- C1\IS,0042.WY (0001) (Page 10 of 18) \VY01\lING -. Single Family.. Fm.lie Mae/Prodd¡e Mac UNIPORM IN>TRUMENT Forni 3051 1/01 IJútinls: (;t (tO~/ Þt{!)ì ( ~ "=::/ t .' '-', f'¡ :~-))U .',. { .~~~I r-nCt'ït'O "0- ,.: \.J ~ ,_: ]1' the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lt~nder has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken prompt]y. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or App]icable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower allY interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is Ilot economically feasibJe or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the slllns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be appJied in the order provided for in Section 2. In the event of a total taking, destmctioJl, or loss in value of Ule Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, wheU1er or not then due, with the excess, if any, paid to Borrower. In Ule event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than u1e amount of u1e sums secun:d by ulis Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, U1e sums secured by this Security InstI1Jment shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the SUlllS secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of U1e Property inullediately before the partial taking, destmction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the tàir m2rket value of the Property immediately before the partial taking, destruction, or loss in value is less than Ule amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree iu writing, the Miscellaneous Proceeds shall be applied to the Stllns secured by uÜs Security Instrument whether or not the sums are u1en due. If Ule Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defÌned in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is auuwrized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the ulird party that owes Borrower Miscellaneous Proceeds or the party against wholll Borrower has a right of action in regard to Miscellaneous Proceeds, LOAN NO: 589061605 \VYOMING u Single Fiunily -- FalUÜe Mae/Freddie Mac UNIFORM INSTRUldENT Form 3051 1/01 GMACM - CMS.0042. Wy (0001) (Page 11 of 18) )nitials: t " I' '~, '¡-:;~lin, . ,-,.'.¡.·.JiU " :'Ì f". 1-'; r" , "I" 11 .,. ,; '.. ¡' i} .1 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 oU1er 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 forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to U1e impairment of lender's intc:rest in U1e 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; Forbearance By Lender Not a 'Vaiver. Extension of the time for payment or moditication of amortization of the sums secured by this Security Instmment granted by Lender to Borrower or any Successor in Interest of Burrower shall lIot 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 refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments tì'om third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude U1e exercise of any 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 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-signer's interest in the Property under the terms of U1Ïs Security InstnlInent; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any oU1er Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under Utis Security lnstl1lment in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under U1Ïs Security Instrument. Borrower shall not be reJeased from Borrower's obligations and liabi]ity under this Security InstllJment unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit ù1e successors and assigns of Lender. \VYOl\IING -. Single PaJJul)' -- Pannie MadPre,Mìe Mac UNIPORM INSTHUMENT Form :\051 1/01 Iaitials: ø_L /~ GMACM - Cl\IS.OO.:t2. WY (0001) (Page 12 '!f 18) ~', to; ~J; D r (, (' 1'1 (, Ij .'.., ,\. f':' 14. Loan Charges. Lenda 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 rights under this Security Instmment, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instmment to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so tllat tlle interest or otller loan charges collected or to be collected in connection Witll the Loan exceed tlle permitted limits, tllen: (a) any such loan charge shall be reduced by the amount necessary to reduce tlle charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make tlÚs refund by reducing the priucipal owed under the Note or by making a direct payment to Borrower. If a refund 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, 15. Notices. A II Notices given by Borrower or Lender in connection with this Secnrity Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually ddivered 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 shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specities a procedure for reporting Borrower's change of address, then Borrower shall only report a chaJJge of address through that specitied procedure. There may be only one desigJJated notice address under this Security !JJstnllnent at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by tirst class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection WiÙl this Security Instrument shall not he deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, tlle Applicable Law requirement will satisfy the corresponding requirement under tllis Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instnllnent shaJl be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instmment are subject to any requirements and limitations of Applicable Law. AppJicable Law might explicitly or implicitly aJIow the parties to agree by contract or it might be silent, but such silence shaJI not be construed as a LOAN NO: 589061605 \VY01\flNG -. Sin¡;Jt Pamil)' n Pamut Mat/Freddie Mac UNIFORM INSTRUMENT Form 3051 1101 1 Q / GJ\!ACJ\! - Cl\[S.OO~2.WY (0001) (Page 13 of 18) Initials: (~., u/ flií;;e " t : ~ ";"S,':lû (' n r· /'1 ;': <") '.' ',; U ( t:.) prohibition against agreement by contract. In the event that any provIsIon or clause of this Security Instrument or the Note contlicts WiÛl Applicable Law. such contlict shall not affect oûler provisions of this Security Instrument or the Note which can be given effect without Ûle cont1Îcting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion wiûlout any obligation to take any action. 17. BOlTower's Copy. Borrower shall be given one copy of ûle Note and of this Security Instrument. 18. T¡'ansfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneíicial interest in the Property, including, but not limited to, those bendicial interests transferred in a bond for eked, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a futnre date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneíicial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises û¡is option, Lemkr shall gi vc: Borrower notice of acceleration. The notice shall provide a period of not Jess than 30 days from the date the notice is given in accordance with Section 15 within which Borrowèf must pay all sums secured by this Security Instrument. If Borrower fails to pay these sUlns prior to tIle expiration of this period, Lender may invoke any remedies permitted by this Security Instrument WiÛlOut further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Accelel·ation. If Borrower meets certain conditions, Borrower shall have Ûle right to have enforcement of ûlis Security Instrument discontinued at any time prior to the earliest of: (a) tive days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as ApplicabJe Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all SUIllS which then would be due uncleI' this Security Instrument and tile Note as if no acceleration had occurred; (b) cures allY default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, inc]uding, but not limited to, reasonable attorneys' fees, property inspectioIl and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest ill the Property and rights under this Security InstnJluent, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) mOIley order; (c) certitied 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) Elc:ctronic Funds Transfer. GMAC¡\I - CMS.0042. WY (000]) (Page 1-1 of 18) \YYOl\IING n SlI1¡:Je Family·· F,uulÍe Mae/Fre;t.1ìe Mac UNIFORM INSTRUMENT Form 3051 1/01 Initials: &...0__/ F¡,I~J t d,"'_ ~..,: '5,:]\Û r. J") ¡,o, '.1 ~ .., <. " , ~ " ',: \ \ ~J Upon reinstatement by Borrower, this Security Instrument aud obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Seryicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be so]d one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servker") that 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 of the new Loan Servicer, the address to which payments should 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 Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are llot assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lenckr may commence, join, or be joined to any judicial action (as either an individual litigallt or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notitied the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notiœ of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, m;:¡terials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that re]ate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition Ú1at can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit Ú1e presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) Ú1at is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that LOAN NO: 589061605 \VYOJ\IING n Single Family ~~ Famlie Mae/Freddie Mac UNIFORM INSrRUMENT FOI'm 3051 1/01 GMACJ\I- CJ\fS.0042.WY (0001) (Page 15 of 18) InitialsJ "!r~;!,::l;!n\ <, v ~ J U ;~1 r1, r~í (", r:- .. ',j L· , U ~ adversely affècts thè value of the Property, Thè prèCèding two sèntènCèS sha]] not apply to the preSèl1Cè, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to mailltenance of the Property (including, bnt not limited to, hazardous substances in consumer products), Borrower sha]] 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 spi]]ing, leaking, discharge, rekase or threat of release of any Hazardous Substance, and (c) any condition caused by Ù1e presence, lIse or rekase of a Hazardous Substance which adversely affects Ù1e value of Ùle Property. If Borrower learns, or is notified by any govermnental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substauce affecting the Propèrty is necessary, Borrowèr sha]] promptly take all necessary æmèdial actions in accordance with Environmental Law, Nothing hnein shall crèate any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender fllTther COVènant and agree as follows: 22. 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 othenvise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice sha]] further inform Borrower of the dght to reinstate after acceleration and the right to bring a court action to aSSel"t 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, I-easonable 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 puhlish the notice of sale, and the Pmpel-ty shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. \VYOMING .. Singlo f'.mil)' .. f'amlie Mao/Freddie Mac UNIFOR~1 INSTRUMENT Form :1051 !lOl ¡J Q ..' /ICàJQ : ( , GMACJ\.I - CMS.0042,WY (0001) (Page 16 of 18) Initials:~...J I I \ f '::1ü -. (, n n 1'1'-, ("I "., '.) U, u U 13. Release. Upon payment of all SIlIns 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 Instmment, but only if the fee is paid to a third party for services rendered and the charging of the fçe is permitted under Applicable Law. 24. 'Vaivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instml1lent and in any Rida executed by Borrower and recordçd with it. LOAN NO: 589061605 Witnesses: (Seal) - Borrower (Seal) -Borrower (Seal) -Borrower (Seal) ,Borrower \VYOl\fING n Single Fanuly Fallluo Mae/Froddie M,1e UNIFORM IN~'TR{J~IENT Form 3051 1/01 Gl\fACM - Cl\IS, (HJ42. WY (0001) (Page 17 (118) t ~, ~,:-) G~ f ~ ~ (', ,'.... ('I f"j ", \"'1 ".. ;,: U , \: ~ INDIVIDUAL ACKNOWLEDGMENT ST A TE OF WYOMING, ) ) SS COUNTY OF LINCOLN ) The foregoing instrument was acknowledged before me this November 8, 2005 (date) by Michael J. Long and Cheryl A. Long, husband and wife (person acknowledging) /<1ff eVt/¿CL);Y! ßC//f-/l<2_/ Notary Public / My Commission Expires: 9-15-07 .........~ GLORIA 1<' BYERS - NOTARY PUBLIC County Of,;0:~t~ State of Llncoln,::"~... Wyoming My CommIssion Expires Sept. 15, 2007 ~~~~ \VYOI\HNG .. Sin¡;Je F;ulIlly.. Palmie Mae/Freddie ~Iac UNIFORM INSTRUI\IENT Form 3051 1101 GMACl\I - CMS.0042.WY (0001) (Page 18 (~f 18) Initials: ¿() /~ . . i ;, ~ '" ~,....ú ;)¡ ~_,__J,,-.~' Schedule A Wyoming Mortgage Given By: Cheryl A. Long See attached Exhibit "A" ("!ì r !"j', n ì.. \,} t.1 ¡. ~ : Ö Page 1 That part of Lot 3 of Section 7, T34N Rl18W of the 6th P.M., Lincoln County, Wyoming, identical with the south half of that tract or record in the Office of the Clerk of Lincoln County in Book 214PR on page 313, described as follows: BEGINNING at a 5/8 II x 12 II steel spike, South, the base bearing for this survey, 169.2 feet, from the W?{ corner of said Section 7, as described in the Certified Land Corner Recordation Certificate of record in the said office¡ thence continuing South, 145.2 feet, to a 5/811 x 12" steel spike¡ thence S 90°00' E, 30.0 feet, to a point on the east Right-Of-Way of the Muddy String County Road No. 12-117¡ thence continuing S 90°00' E, 270.0 feet, along the south line of said tract to a point for the southeast corner¡ thence N 00°00' E, 145.2 feet, along the east line of said tract to a point¡ thence N 90°00' W, 270.0 feet, to a point on the east Right-Of-Way of said County Road¡ thence continuing N 90°00' W, 30.0 feet to the POINT OF BEGINNING. t