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HomeMy WebLinkAbout913705 ') l . , <.../ ' ;, II -7 \.A \-.J ~' ,:.... U <\ ..J (~ !ì ('. -r.¡ 4 f) '\.0 :\,,1 \) ;Jq, 'p_ tv I( Z(/;;') ~)/ ,-_/' After Recording Return To: RECEIVED 11/15/2005 at 11 :28 AM RECEIVING # 913705 BOOK: 604 PAGE:~f42 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY GMAC Mortgage Corp. 100 \'Jitmer Road Harsham, PA 19044-0963 ATTN: Records Management [Space Ahove Tlús Line Fur Recording Data] Luan No. 588742007 MIN 1000375-0588742007-6 MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and oOler words are detined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding Ole usage of words used in lhis document are also provided in Section 16. (A) "Security Instrument" means this documenl, which is dated November 2005 , togeOler WiOl all Riders to O¡is document. (B) "Borrower" is McKenzie D. Keith, a single man 10, Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. !viERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. l\IERS is the mortgagee under this Security Instrument. !viERS is organized and existing under Ole laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, !viI 48501-2026, tel. (888) 679-!vIERS. \VYOI\IING u Sing!< Family·· F"JUlie Ma</Freddie Mac f1- UNIPORM INSTRUMENT Form 3051 1/01 .. 1 (Page 1 of 18) 325537498 llUtJals: p------- 942 GMACM - CMS.0042.\\'Y (0001) \ '..';','," :~~ ~~:~: H"}\ c....- ~'UJ ".1...1 ~ (' :...... r-t'JI /1 '1 1.. ,) \.! (/) ':t J (D) "Lender" is GMAC Mortgage Corporation Lender is a Corpora t ion 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 10. 2005 . The Note states that Borrower owes Lender One Hundred Thirty Four Thousand Four Hundred and 00/100 Dollars (D .S. $ 13 4 . 400 . 00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay tJ¡e debt in full not later than December I. 2035 (F) "Prope "ty" means lhe property that is described below under tJ1e heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all stuns due under this Security Instrument, plus interest. (1-1) "Riders" means all Riders to this Security Instrument thal 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 }-4 Family Rider (1) "A pplicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (thal have the effect of law) as well as all applicable final, non-appealable judicial opinions. (.1) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium associatioll, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is injtiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instrucl, or authorize a tìnancial 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 tekphone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means lhose items that are described in SeClion 3. (M) "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, the Property; (ii) condemnation or other taking of a1l 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 tJ1e Property. \VYOJ\HNG -- SUlgl< Pamily u Pamie MadPr<ddie Mac UNIFORM INSTRUMENT Form 3051 1/01 Gl\IACl\I . Cl\tS.UO'¡2. WY (OUOl) (Page 2 of 18) luitiuls: tf!? ;' " r,"] q) '?O' ¡-. ~'..__~ :._~~) .1¿ z,.JJ ~ -..) " I~ r:rt ',. ,.)1, ; , '/1 _1' " \,J '':t' (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 (i) principal and interest under tile Note, plus (ii) any amounts under Section 3 of tlJis Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F. R. Part 3500), as they mighl be amended from time to time, or any additional or successor legislation or regulation that governs tile same subject matter. As used in tl1Ís 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. (Q) "Successor in Interest of Borrower" means allY party that has taken title to the Property, whether or not lhat party has assumed Borrower's obligations under tile Note and/or this Security Instrument. TRANSFER OF RlGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repaymenl of tile Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under tl1Ìs Security Instrument and lhe Note. For tlJis purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described propaty located in the County [Type of Recording Jurisdictionl of Lincoln [Name of Reconling Jurisdictionl SEE SCHEDULE "A" ATTACHED HERETO AND MÞ.DE A PART HEREOF, which currently has the address of 372 Wooden Spur Drive, Unit 8, [Street} Alpine , Wyoming 83128 ("Property Address"): [City} IZip Codel TOGETHER WITH all tile improvements now or hereafter erected on the pmperty, and all easements, appurtenances, and tixtures !lOW or hereafter a part of the property. All replacements and additions shall also be covered by tlJis Security Instrument. All of !lIe foregoing is referred to in tllis Security Instrument as tile "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply witll law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, tile right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. \VY01\/ING .. Single Pamily· P,uulÍe Mae/Pr<ddle Mac UNIFORM IN~'''TRUMENT Form .\051 1/01 G1\IACM - CMS.0042.WY ((JO(H) (Page 3 of 18) Initials: w/1 t i '. {l{ "t ;""iI1\"" '.', i/ V.~jJ ,""' ,." :].' o¡ r- , . r '.. L~ ",\ t: ~., :t J BORROWER COVENANTS that Borrower is lawfu11y seised of lhe estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenallts for national use and non-unifonn covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under lhe Note. Borrower shall also pay funds for Escrow Hems pursuanl to Sectiou 3. Paymellts due under the Note and this Security Instrument sha11 be made in U.S. currency. However, if any check or olher instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or a11 subsequent payments due under the Note and lhis Security Instrument be made in one or more of the following fonns, as selected by Lender: (a) cash; (b) money order; (c) certitied check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an imtitution 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 desiguated in the Note or at such olher location as may be designated by Lender in accordance WiÙl the notice provisions in Section 15. Lender may return any payment or partial payment if Ùle payment or partial payments are insufticient to bring the Loan current. Lender may accept any payment or partial payment insufticient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments ill the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Paymeut 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 wiùlin a reasonable period of time, Lender shall either apply such funds or return Ùlem to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under lhe 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 lhe Note and this Security Instrument or performing the covenants and agreements secured by Ùlis Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in Ùle 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 Ùle order in which it became due. Any remaining amounts shall be applied tirst to late charges, second to any other amounts due under this Security Instrument, amI Ùlen to reduce the principal balance of the Note. LOAN NO: 588742007 \vY01\JJNG -- Sill!:k Paullly -- PiUuúe Mat/Freddie Mac UNIPORM INSTRUMENT Form 3051 1101 G1\1.-\.C1\1 - CMS.0042.WY (0001) (Page 401l8) Initials: 1'.I/;l1 . 1 .~i,n\.'·' .t'.K» ( :'~I f" -ry, '1 ['> '...) \..i I¿ q Ü 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 the late charge. If more than one Periodic Payment is outstanding, Lender nUlY apply any payment receiwd from Borrower to the repayment of lhe Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to ùle full payment of one or more Periodic Paym~nts, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and ùlen as described in the Note. Any application of paymeJlts, insurance proceeds, or MisceJlaneous 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 lhe day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instnllnent as a lien or encumbrance on the Property; (b) kasehold payments or ground rents on lhe Properly, if any; (c) premiums for any and all insurance required by Lender under SectioJl 5; and (d) Mortgage Insurance premiums, if any, or any slllns payable by Borrower to Lender in lieu of ùle payment of Mortgage Insurance premiums in accordance wiùI the provisions of Section 10. These items are called "Escrow Items." At origilultion 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 furnish tu Lender allnolices of amounts to be paid under lhis 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 shall pay directly, when and where payable, the 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 require. 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 ù1Ís Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, alld Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke lhe waiver as to any or all Escrow Items at any time by a notice given in accordance with Section ]5 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under úlÍs Seclion 3. Lender may, at any time, collect and hold Funds in an amount (a) sufticient to permit Lender to apply the Funds at the time specitied 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 où¡erwise in accordance with Applicable Law. LOAN NO: 588742007 \YYOl\lING n S1l1~1< Family n Fam"< Ma</Fr<ddi< Mac UNIFORM IN~IRLlMENT Form 3051 1/01 GMACI\1 - CMS.0042.WY (0001) (Page 5 of 18) Initials: r : ,',.;,:;ò;',. '""~~' in 3"- 4/ ~J 11...) (. 1\ (, -¢'1 4 t7 'I.. r...) l.: Q.. t The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose dt:posits are so insured) or in any Feckral Home Loan Bank. Lender shall apply lhe Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on lhe 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 Oll the Funds. Lender shall give to Borrower, wiÙ10ut charge, an annual accounting of the Funds as required by RESPA. If ùlere is a surplus of Funds held in escrow, as defined under RESPA, Lenda shall account to Borrower for ùle excess funds in accordance WiÙI RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender ùle amount necessary to make up Ùle shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more lhan 12 monthly payments. Upon payment in full of all sums secured by this Securily 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 this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent lhal these items are Escrow Items, Borrower shall pay lhem in lhe manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over lhis Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faiùl by, or defends against enforcement of Ùle lien in, legal proceedings wl¡ich in Lender's opinion operate to prevent Ùle enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a ]]otice identifying the lie]]. Wilhin 10 days of the date on which that notice is given, Borrower shall satisfy lhe lien or take one or more of the aClions set forth above in this 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 ùlÎs Loan. 5.Property Insurance. Borrower shall 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 other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts \VY01\fING Slll.k Family -- Fami, M1I,iPr«lthc Mac UNIFORM INSTRUMENT ]lurm 3051 1101 G1\IAC1\1- C1\IS.()()': 2.WY «()()tH) (Page 6 oI18) Initials: tv . ~ ':';'"1;':'» '.. ~. ..: ¡;.u._.:,("¡} :t·~ ./ ~J ",) n r' '7' /~ n .,' , , 'I-. ~1 0 (including deductible levels) and for the periods Ùlat Lender requires. What Lender requires pursuant to the preceding sentences can change during lhe term of Ùle Lo:¡n. 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 wilh this Loan, either: (a) a one-time charge for nood zone determination, certification and tracking services; or (b) a one-time charge for nood zone determination and certification services and subsequeut charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for Ùle payment of any fees imposed by Ùle Federal Emergency Management Agency in connection with the review of any nood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in Ùle Property, or the contents of the Property, against any risk, hazard or liability and migllt provide greater or lesser coverage Ù¡an was previously in effect. Borrower acknowledges thal the cost of the insurance coverage so obtained might signiticantly exceed the cost of insurance thal Borrower could have obtained. Any amounts disbursed by Lender under lhis Section 5 shall become additional debt of Borrower secured by ùlis Security Instrument. These amounts shall bear interest al the Note rate from the 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 lhe 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 destmction 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 Ùle event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, wheÙler 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 righl to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satistàction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, LOAN NO: 588742007 \VYOl\JING u SUIg1< Pamily u PalUÙ< Ma<IPr<ddi< Mac UNJPORM INSTRUMENT Form 3051 1/01 GJ\lACl\I - CMS.0042.WY (0001) (Page 7 of 18) Initials: ~JÙ :,'.',".;".", .,..1....'_.. ;'.::','fì,,-.· . .'" - 1I \(J¡'~J;\ ~.. ,", r ry; :J '9 \.. ;,) t: ~L. q .'- or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be ùle sole obligalion of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whelher or nol then due, with lhe excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender n1;;IY tile, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender lhat the insurance carrier has offered to settle a claim, thell Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires ùle Property under Section 22 or oùlerwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (Olher ùlan the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use ùle insurance proceeds either to repair or restore the Property or to pay amounts unpaid under Ùle Note or ùlis Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after ù1e execution of this Security Instmment and shall continue to occupy the Property as Borrower's principal residenc<: for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, :Maintenance and Protection of the Property; Inspections. Borrower shall nol destroy, damage or impair the Property, allow the Property to deteriorate or commit waste 011 the Property. Wheùler or 1l0t Borrower is residing in the Property, Borrower shall maintain the Property ill order to prevent the Property from deteriorating or decreasing in valne 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 further deterioration or damage. If insurance or condemnalion proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for ùle repairs and restoration in a single payment or in a series of progress payments as ùle work is completed. If the insurance or condemnation proceeds are nol suftìcient to repair or restore ù1e Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable enlries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on lhe 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 A pplication. Borrower shall be in default if, during the Loan application process, Borrower OT any persons or entities acting at the direction of Borrower or wiùI Borrower's knowledge or consent gave materiaJly false, misleading, or inaccurate information or statements to Lender (or t~1Íled to provide Lender wiùl material information) in 'VYOJ\IING -- Sm¡;k FiUnily n FalUlie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 r;t GJ\IACl\I - CJ\IS.0042. 'VY (0001) {Page 8 (118) Initials: --/; . . ...:, i;~: _ ;.' - " "':'(1:':', ,', j , .,.-, I~', q. ~__ "--"- .:: ~/V.C) "1"\ r'g' h '. . -. , I. (ì , , ./J u connection with 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 Instmment, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instmment (such as a proceeding in bankmptcy, probate, for condemnation or forfeiture, for enfè>rcemenl of a lien which may attain priority over this Security Instmment 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 tlle Property and rights under tllis Security Instnnnent, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any SUlns secured by a lien which has priority over tllÎs Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property ami/or rights under this Security Instrumenl, including its secured position in a bankrnptcy proceeding. Securing the Property includes, but is not limited to, entering lhe 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 tumed on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions aulhorized under this Section 9. Any amounts disbursed by Lender under tllis Section 9 shall become additional debt of Borrower secured by lhis Se:curity Instrument. These amounts shall bear inte:rest at the: Note: rate from the: date of disburseme:nt and shall be payable, Witll such interest, upon notice: from Lelldc:r to Borrower requesting payment. If tl1Ís Security Instl1lment is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the kasehold and the: fee title shall not merge unless Lender agrees to the merge:r in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making tile: Loan, Borrower shall pay the premiums required to maintain lhe Mortgage Insurance in effect. If, for any reason, lhe ~vlortgage: Insurance coverage required by Lender ceases to be available from the: mortgage: insurer lhat previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivaleJlt to the cosl to Borrower of tile: Mortgage Insurance prc:viously in effect, from an alternate mortgage insurer selected by Lender. If substantially eqllivaknl Mortgage Insurance coverage: is not available, Borrower shall continue lo pay to Lender tile amount of the separately designated paymellts that were due when the insurance coverage ceased to be in effe:ct. Lender will accept, use and retain these payments as a non-refundable loss rese:rve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, Jlotwithstanding the fact that the Loan is ultimately 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: 588742007 -L \VY01\IING -. SmgkPamily -- Pamue MatlPreddiè Mac UNIFORM IN,TRUMENT Form 3051 )/01 G1\JACl\f - CJ\lS.0042. WY (0001) (Page 9 of 18) Initials; . . ."., ç :L ;j"":F:,-,f"¡I,f-'" , 4/ \¡j'....)} , 1-: (' 'rj. r..~ 1 '.., 1-, \.J .!.ì.. amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a coudition of making the Loan amI Borrower 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 the Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lemler providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay lhe Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to Ùlese agreements. These agreements may require the mortgage insurer to make payments using any source of funds Ùlat Ùle mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any OÙler entity, or any aftìliate of any of the foregoing, may receive (directly 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 the premiums paid to Ùle insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such ag."eements will not affect the amounts that Borrower has agrecd to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower wiII owe for Mortgage Insurance, and they wiII not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the l\fOl"tgage 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 Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. \VYOJ\ITNG, Single Pó¡¡niJy n PIU"lie Mae/Predctie Mac UNIPORM INSTRUMENT Form 3051 1101 GJ\lACJ\I - CJ\lS.IHl42. WY (0001) (Page 10 oJi 8) IJùtials: 111/ .. " '~05 tì. /.... ry ",. () ',/ ¡, \'/: ~,¡..: If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoríltion 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 tvliscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure ù1e work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly, Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on snch Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings 011 such Miscellaneous Proceeds. If lhe restoration or repair is not economically feasible or Lender's security would be lessened, Ùle Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, wiù1 the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to Ù1e sUlns secured by lhis Security Instrument, wheù1er or not lhen due, with ùle excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of ù1e Property immediately before Ùle partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before Ùle partial taking, destruction, or loss in value, unless Borrower and Lender oÙ1erwise agree in writing, Ù1e SUlns secured by ù1Ís Security Instrument shall be reduced by the amount of the tv1iscellaneous Proceeds multiplied by Ùle following tì'action: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) lhe fair market value of ùle Property immediately before the 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 t]1e Property in which ù1e fair market value of the Property immediately before lhe partial taking, destruction, or loss in value is less than the amounl of the sums secured immediately before lhe partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to lhe StJlns secured by this Security Instrument whether or not the sums are then due. If ù1e Property is abandoned by Borrower, or if, after notice by Lender to Borrower ùlat the Opposing Party (as defined in ù1e next sentence) offers to make an award lo settle a claim for damages, Borrower fails to respond to Lender wiù1in 30 days after the date the notice is given, Lender is authorized to collect and apply ù1e Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secUI'ed by Ù1ÎS Security Instnl1nent, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or Ù1e party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. LOAN NO: 588742007 /v \VYOJ\HNG n SUl¡;le PamiJy n PaJUùe Mae/Preddie Mac UNIFORM INSTRU~IENT Form 3051 1/01 1 GJ\IACM - CMS.()(J42.WY (OOOJ) (Page 11 (~/Ï8) Initials: 1 (: }: r... ,J .;f , U:;r ,.... r'. '7 "'0 A . ;, : ~'.." -...' ".(:1 JJ Borrower shall be in det~lUlt if any action or proceeding, whelher civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of Ùle Property or other material impairment of Lende:r's interest in lhe Prope:rty 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 Ùle Property or other material impairment of Lender's interest in lhe Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds ùwt are not applied to restoration or repair of lhe: Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the SUIns secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall nol operate to release Ùle liability of Borrower or any Successors in Interest of Borrower. Lemler 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 Instnnnent 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, withoul limitation, Lende:r's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waivc:r of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees ùlat 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-signj¡lg this Security Instmment only to mortgage, grant and convey Ùle co-signer's interest in Ùle Property under the terms of this Security Instnnnent; (b) is not personally obligated to pay the: sums secured by this Security Instrume:nt; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations wiùl regard to Ùle terms of ùlÍs 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 this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benetìts under this Security Tnstnnllent. Borrower shall not be released from Borrower's obligations and liability unda this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instmment shall hind (except as provided in Section 20) and benelÏt the successors and assigns of Lender. \VY01\fING '. SUI¡;Je Pamily ,- Pamue Mae/Preddie Mac UNIPORM INSTRUMENT Fo..m 3051 1101 /n G1\IAC1\I - C1\IS.IJ042. WY (()IJIJI) (Page 12 of 18) Initials:' / ~ '" t " "0.. ::.r ~","".:.'_' ¡/1.1Jl: :,:: ,", :'-¡ (' ry. fT- .J '.. \..: ~ .j cL- 0 <1 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 rights under this Security Instmment, including, but not limited to, attorneys' fees, property inspection and valuation fees, In regard to any olher fees, the absence of express authority in this Security Instroment 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 ùlat are expressly prohibited by ùlis 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 ùlat the interest or olher loan charges collected or to be collected in connection with the Loan exceed ùle permitted limits, Ùwn: (a) any such loan charge shall be reduced by the amount necessary to reduce ùle 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 ù1Ïs refund by reducing the principal owed under Ùle Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment wiÙlOut any prepayment charge (wheùler 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. All Notices given by Borrower or Lender in connection wilh lhis Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by lirst crass mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires oÙlenvise. The notice address shall be Ùle Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's lhange of address, then Borrower shall only report a change of address lhrough Ùlat specified procedure. There may be only one designated notice address unda this Security Instmment at anyone time. Any notice to Lender shall be given by deJivering it or by mailing it by tirst crass mail to Lender's address staled herein unless Lender has designated another address by notice to Borrower. Any notice in connection with ùlis Security Instmmenl shall not be deemed to have been given to Lender until actually received by Lender. lf any notice required by this Security Instrument is also required under Applicable Law, lhe Applicable Law requiremenl will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instmment shall be governed by federal law and lhe law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be constmed as a LOAN NO: 588742007 \YYOJ\HNG u Single Family u F;nu1ie ~!;¡e/Fredrlìe Mac UNIFORM IN,TRUMENT Form 3051 1/01 GMACM- CMS.OO': 2.WY (0001) (Page 13 of 18) lllitials: ~h 1'- , J ~"~~" r '; '.> .... i f¡/' (·L.Ÿ~}\ - r" r~ ~ ('4'··· 'J' 1~} ~~_: '/~- "0 prohibition against agreemenl by contract. In the event lhat any provision or clause of this Security Instrument or the Note contlicts with Applicable Law, such connict shall not affect other provisions of this Security Instrument or the Note which can be gi ven effect without the contlicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words ()f the feminine gender; (b) words in the singular shall mean and include lhe plural and vice versa; and (c) Ole word "may" gives sole discretion without 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 Intrrest in ßorrower. As lIsed in this Section 18, "Interest in the Property" means any legal or beneticial interest in the Properly, including, but not limited to, those beneticial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future dale to a purch:lser. If all or any part of the Property or any Interest in the Property is sold ()r transferred (or if Borrower is not a natural person and a beneticial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require ill1mediate payment in full of all sums secured by lhis Security Instrument. However, lhis option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less lhan 30 days from the date lhe notice is given in accordance with Section 15 wiOlin which Borrower must pay all sums secured by lhis Security Instrument. If Borrower fails to pay Olese sums prior to Ole expiration of this period, Lender may invoke any remedies permitted by 01is Security Instrument wiOwut further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. [f Borrower meets ccrtain conditions, Borrower shall have Ole right to have enforcemenl of 01is Security Instrument discontinued al 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 oÙler period as Applicable Law might specify for the termination of Borrower's righl to reinstate; or (c) entry of a judgmenl enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which 01en would be due under this Securily Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in entiHcing ùlis Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Properly and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by ÙJÍs Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following timns, as selected by Lender: (a) cash; (b) money order; (c) certitìed check, bank check, treasurer's check or cashier's check, provided any slIch check is drawn upon an institution whose deposits are insurcd by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. \VYOJ\HNG -- Single Family -- F'Ullùe Mae/Freddie Mac UNIFORM INSTRUMENT form :1051 1/01 .~ .f/l,. GMACM - CMS.0042.WY (0001) (Page ¡.¡ of 18) Initials: L ,.'J g ,_ v~" ¡IT' L "~: " ~J,-,¡' i-I ," '1';;0.-' '""' .;:' t[.. (¡(j Upon reinstatement by Borrower, tl1is Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under lhe Note, this Securily Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. I f 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 I.oan Servicer, the address to which payments should be made allCl any other intìmnation RESPA requires in connection with a notice of transfer of servicing. If tl¡e Note is sold and thereafter the Loan is serviced by a Loan Servicer other lhan the pnrchaser of the Note, tlle mortgage loan servicing obligations to Borrower will remain witl1 the Loan Servicer or be transferred to a successor Loan Servicer and aft~ not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or lhe member of a class) that arises from the other party's actions pmsnant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, tllis Security Instrument, until such Borrowèr or Lender has notitied the other party (with such notice given in compliance witl1 lhe requirements of Section ] 5) of such alleged breach and afforded the other party hereto a reasonable period after tl1e giving of such notice to take corrective action. If Applicable Law provides a time period which nmst elapse before certain action can be taken, that time perioe! will be deemed to be reasonable for purposes of tllis paragraph. TIle notice of acceleration and opportunity to cure given to Borrower pursuant to Section 21 amI the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisiolls of this Section 20. 21. Hazardous Substances. As used in this Section 2]: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, po]Jutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other tlammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where tile Property is located that relate to health, safety or environmental protection; (c) "Env ironmelltal Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition tl1at can canse, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Ffazardous Substances, on or in lhe Property. Borrower shall not do, nor allow anyone else to do, anything affecting lhe Property (a) that is in violation of any Ellvironmental Law, (b) which creates an Environmental Condilion, or (c) which, due to the presence, use, or release of' a Hazardous Substance, creates a condition that LOAN NO: 588742007 \vYOl\lING ,- Single Family -- Pamue Mae!Fred,tie Ivlac UNIFORM INSTRUMENT Form 3051 1/01 I ¡fA, G1\IAC1\I - C1\IS.0042. WV (0001) (Page 15 of 18) luitÏllls: -1Il VT {~' .~ 1\ -- ~ ',,- t", ~. ,_: ,....r -. ~.~ '.. " ~ r~: _-' ~ J adversely affects the vahle of the Property. The preceding two sentènces shall not apply to tile presence, lise, or storage on the Property of SIIJ:tll (luantities of Il;tz¡irclous Substances that are geutrally recognized to be appropriate to normal residential uses and to nwiIlteIlanCl: of the Property (including, bnt not limited to, hazardous snbstancts in consumer products). Borrower sl¡all promptly givt Ltnckr written notice of (a) any investigation, claim, demand, lawsuit or othtr aL'lion by any governmeJltal or regulatory agency íJ]' private party involving the Proptrty and an)' HazardlJus SUbS(;UlCè or EnviroJ1lnL,ntal Law of which BlJrrower has actual knowledge, (b) an)' Environlllental Condition, including but not limited to, any spillillg, leaking, dischargt, rdeast or thn;a( of reltase of an)' HazardlJus Substance, alld (c) any conclition caustd by the prtStnCè, \lse or rekast of a Hazardous Substance whicll aclvtfsely afkcts ¡he valut of the Property. If Borrower karns, or is Ilotitied by any governmental or regulator)' autlllJrit)', or any privatt party, that an)' removal or other remedialilJn lJf any Hazardous Substance affecting tht Property is Jll'cessar)', Born)wtr shall pn) llptly take all necessary rellltdial actions in aLTorc!anct with EnvironrIltntal Law. Nothing herein shall create any obligation OJJ Len(kr for an Envinlnm¡;ntal Ckaoup. NON-UNIFORrvl COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to accelel'ation following Borrower's breach of any co\'enant or agreement in this Security fnstrument (but not prior to aereleration lIud(:r 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 nOfice is given to Borrower, by which the default must be cured; and (d) that failure to cure the deLwlt on or bd'ore the date specilied in the notice may result in a('ederation of the sums secured by this Security Instrument and sale of' the Property. The notice shall further iuf'urm Borrower of the right to reinstate after accderation and the rigId to bring a court action to assert the non-existence of a default or allY other def'ell~e of' [lorrower to acceleration and sale. If the default is lIot rured on or hefore the date specified in the notice, L("nder at its option may require immediate payment ill f'ull of' all sums secured hy this Security Instrument without further demand and may invoke the power of sale and any other n,medies permitted hy A pplicable Law. Lender shall he entitled to coll{'ct all expenses incurred in pursuing the remedies provided in this Section 22, including, hut not limited to, -easonable attorneys' f'tes and rosts of title evidence. If Lende¡- invokes the power of sale, Lender shall give notice of iutent to foreclose to Borrower and to the person in possession of the Property, if differeut, iu accordauce with Applicabl(' Law. I"end('r shall give uotice of the sale to Borrower in the manuer proYitled iu Section 15. Leuder shall puhlish the uotice of sale, and the Proptrty shall be sold in the mauneI' prescdhed hy Applicable Law. Lender or its designte may pnrchase the Pmpel"ty at any sale. The proceeds of (he sale shall he applied in the following ordee (a) to all expenses of the sale, including, hnt not limited to, reasonable attorneys' fees; (h) to all snms secured hy this Security Instnllnent; aud (c) any excess to the person or persons legally tntitled to it. \,Y\,()!\tING -. S¡II~lcP¡¡lLIily >- F¡¡lInit:t..I;I~c/F'n'd,hl; tv!;\c u¡.m~or{t, IN~T[{1Jr.IEfJT Fûrm ]U51 1101 .\ I ¡f) C!\IA('J\t- C!\IS.00-12.WY (0001) (P,¡¡;e JÓ (IllS) Initials: __~_ .. ~: :~ ~ ~ìO~-] (-~ /-.. II ~~". to"' ,,' \ tf.,. \.J Û 23. Release. Upon payment of all SlIlllS secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rencIered and the charging of the fee is permitted unda Applicable Law. 24. Waivers. Borrower releases and waives all rights LInder and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the terms ali(I covenants contained in this Security Instrumellt and in any Rjder executed by Borrower and recorded with it. & /f/ /. .:7 .f¿ ~¿if< /~ / ¿¿/~ MC enZle u. Kelth (Seal) - Borrower (Seal) -Burrower (Seal) -Burrower (Sell I) -BolTuwer LOAN NO: 588742007 Witnesses: \VYOJ\lING n SHl~le Fu¡¡úly . Faruúe Mat/Freddie Mac I IN1FORM IN$lïHJ~IENT Fortn.IUSI 1101 GJ\IACJ\l - CJ\JS.0042. WY (0001) (1'lIge 17 of 18) , " ·J-,f. ~:? if}, :~.~[; n (' ·1:': 9'·-- ,.: ': , l ~J INDIVIDUAL ACKNOWLEDGMENT STATE OFWYOJ\fING, COUNTY OF -reA--c¡\j ) ) SS ) The: foregoing instrumellt was acknowltdgecl before me this Novelnber 10, 2005 (Jate) by McKenzie D. Keith, a single man (person a¡;klll1wktlging) Ivty Commission Expires: ðì(!¡.uu~·~~~ Nl1lary Public q-I;J-07 ~--..._.............../,"/""'-"'" ~~" _ Nü'\f-J\'i PUGL\C U"U\'\\l:· loOf. -':;;ë:" ::)lale 0\ Count'} 0\ CrWj w'}onìing 1e\0\1 . . ',<·'Êlpires 9/12/2007 M'1corn~"" ~ \\'\'01\ lING n Sin.:1c Pall"ly n PI",,¡jC ",,¡Pr,ddi,. Mi" IIi IIF()I'~.IINSTrn]MUIT Form 3051 1/01 Vlpb GJ\L\Cl\l- CMS.UU.j2.WY (lIOU!) (l'¡¡¡;e 18 of 18) Initials:_ , ,-', r" - -. r .~. ~~~I , f' '-"~-. , , Schedule A Wyoming Mortgage Given By: McKenzie D. Keith r.\I'~·60' r , ~ 'I,~- \} \. I . Page 1 ~ Lot 35, Greys River Village Third Addition to the Tovm of Alpine, Lincoln County, Wyoming, according to that plat filed October 12, 2005 in the Office of the County Clerk as Plat No. 227-E.