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HomeMy WebLinkAbout913951 50803 (01) -2,7 1JÞ¡ -1 't, .... Refllrn To: WFHM FINAL DOCS X9999-01M 1000 BLUE GENTIAN ROAD EAGAN, MN 5.512 1 ~. ,., (',0 f! Q ,_ \.Î ~: U \.J U Prepared By: WELLS FARGO BANK, N.A. 1919 DOUGLAS" O~~HA, NE 681010000 [Space AIJIJ\'t' TJús Lim' For J.tel"UnliJlg Datal MORTGAGE RECEIVED 11/23/2005 at 10:46 AM RECEIVING # 913951 BOOK: 605 PAGE: 698 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY DEFINITIONS \VOl'ds used in multiple StctiOllS of [his dOCUJJ1t1ll are ddined bdo\l' and other words are ddined in Sections 3, 1 L 13, IS, 20 and 21. Ctrtain rules regarding [he usagt of words ustd in [his dOUlJlJel}[ are a]so provided in Section 16, (A) "Security Instrument" means this document. which is dated OCTOBER 31, 2005 together with alJ Riders to this clocumem, (B) "ßoITower" is R. MICHAEL LEE AND PATTI D. LEE, HUSBAND AND WIFE I'· ; Borrower is ùle mortgagor uncler this Security Instrumtlll, (C) "Lender" is WELLS FARGO BANK, N. A. Lender is ,I NATIONAL ASSOCIATION organized ,md existing under ¡he laws of THE UNITED STATES 0058958562 WYOlVllNG,Single Family-Fannie Mae/Freddie IVlae UNIFORM INSTRUMENT tD -6(WY) (00051 '~/ , ¡"~l/ ® ~~., t ~1",,1/ ~ \ -' /.1/ f Page 1 of 15 Inltlòl/.2",U ø/: Iii II' -, . t j t, V[\'lF' {AOF;TG,l'..GE FOHI\/lS - ~800)5];~7291 Form 3051 1/01 {J..~~~~. ~l (', 1"'1 r'\ :~'\ [t ,....) . \ì ~.'U ,J J Lenùer'saddrtssis P.O. BOX 10304, DES MOINES, IA 503060304 Ltuder is lllt mongagte nuda llÙs Security IllS tnnllt III . (D) "Note" means tht promissory nOlt sigllêd by Bonowa ami dattd OCTOBER 31, 2005 Tht Nott StattS that Borrower OWtS Ltmkr TWO HUNDRED THOUSAND AND 00/100 Dollars (U, S. $ * * * * 200, 000. 00 ) plus i11lertsr. Borrowtr kls promistd [() P~I\' tltis debt in reg uJar Perjodic Paymtms and to P,IY Ùlt dtbt in full not Jata than NOVEMBER 01, 2035 (E) "Propert~" weans tht proptny that is cltscribed below umler the btading "Transfer of Righls in LIle Propeny. " (F) "Loan" llleans the debt evidenced by tllC Note. plus interest. any prepayme1H charges and lale charges clue undtr the Note, and all sums due under this Security Instrument. plus imertst. (G¡ "Ride¡"s" meal1S all Riders to this Security InstruJllellt that are executc:d by Borrower. TIlc I{¡ljowi ng Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider D VA Rider D Condominium Rider D Second 1 jonle Rida D Planned Unit Develupme1H Rider D I -4 Family Rider D Biweekly Paymem Rider D Other(s¡ ¡specify] (n) "Applicable Law" meallS all comrolling applicable federal. Slale and loca] statutes. regulatiolls. ordinances and adrninistrative rules and orders (that have tht effect of law) ~IS well as all applicahk jjnaJ. non-appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessnlellts ~j d other charges that are imposed on Borrowa OJ llle Property by a condominium associatjun. hmIJeO\\'ners associaticm or similar organization. (.I) "Electronic Funds Transfer" means any transfa of funds, otJ1er tllan a lransactiun origÍ1wed by check, drat'r. or similar paper instrument. which is initiated through an electronic lermin~tI, tèlephunic illstrumel1l. compmer. or magnetic tape so as to order. instruct. or aut!torize a tjllaJlcÜ¡j illstitutiun [() debit or credit an aCCOnnt, Such term includes. but is not ¡inuted to. poillt-nf-sak tralJsfers. aUlUlllated teller machine transactious. transti::rs initialed by teleplJ(JlJe. wire transfers. and automated ckaring!touse transfers, (K) "Escrow Items" means ù10se items tl1al are described Í1l Seuioll 3. (L) "Miscellaneous Proceeds" means any compensation. Settlelllem. award of el:lmages. or pmceeds paid by any third party (otller ù1,m insurance proceeds paid under tlle coverages described in Sectio ] 5) for: (i) damage [(), or destruction of, tlle Property; (ii) condemnariou or other taking uf aU or any pan of rhe Property; (iii) conveyance in lieu of condenmarjo ]; 01' (iv) misrepreseJltatjuns of. or omissiolls as 10. tIle value and/or conclitioll of the Property. (]\f) "Mortgage Insurauce" means insurance prOteerjllg Lender against the lJqupaymem of or deLiult OIL the Loan. (N) "Periodic Payment" Jlleans the regLllarly scheduled aJlloullt due fur (Î) princip~tl and imerest under the Note. plus (ii) any amounts uuder Section 3 of this Security Instrument. (0) "RESPA" means rhe Real Estate Settlement ProCêdures ACl (J.2 U.s. c. Sel'tio]J 260 I el see¡) a III I i IS implementing regulation. Regulatio]J X (24 C.f.R. Pan 35(0) as tlley nriglll be amended frlllll lÍlne [(J rime. or any adclirioual or SllL:cessor legislation or regulation tllat goverJls the same subjL-cl nlatler, As used in this Security Instrument. "RESPA" refers to aU requiremems and restrjerio!lS tlw are imposed in regard to a "fedaally related mortgage loan" even if rile Loan does ]Jot qualify as a "kderalJy related mortgage loan" uncler RESPA. ~ -6(WY) 100051 ® I"oge 2 of 15 \ - {¡ ~i,.~ U~ì. mJ:ry,,· IrliHéõls{..... /'i} -"1~ Form 3051 1/01 '- '-j _.......: '.-- r·.'* J.1., (, n, I", r~-,'~ .,. t.) t,; { L: U (1') "Successor in Interest of ßormwer" means any p~lrty r]¡ar Ilas taken tirk ((J the Pmpeny \\1Ietller or not that pany has assumed Borrower's obligatjuns under tile Nore and/or this Securiry 11lStrlllllelll. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrumem secures to Lender: (i) the repaymem of ¡]le Loan, and all relle\\:Jls, c.\¡eusioJlS ami l1lodifications of the Note; and (ii) ¡]le performance of Borrower's covenaJlls ami agreemems under this Security Instrument and ¡]le Note, For ¡]lis purpose, Borrower does hereby mortgage, gram and l'lJJlvey ((J Lender and Lender's successors and assigns, with power of sale, the folJowillg described properly locared in the COUNTY of LINCOLN IType of lI.econJiug Jurisdictiou] ¡""Ill" ¡Ii' r,ccurdiug Jurisdil'liou LOT 32 OF SOUTHBROOK RANCHES SUBDIVISION, LINCOLN COUNTY, ACCORDING TO THAT PLAT FILED SEPTEMBER 5, 1990 AS PLAT NOS. 335-2 IN THE OFFICE OF THE LINCOLN COUNTY CLERK. WYOMING, 335-1 AND This is a First Real Estate Mortgage recording concurrently with a Second Real Estate Mortgage in favor of Wells Fargo Bank, N.A., dated October 31, 2005, in the original amount of $25,300. 00. TAX STATEMENTS SHOULD BE SENT TO: 10304, DES MOINES, IA 503060304 WELLS FARGO HOÞ1E MORTGAGE, P.O. BOX Parcel ID Number: 136 HANCEY DRIVE THAYNE ("Propeny Address "): wlÙch cUITemly 11as tIle address of ¡Sllldj [r'ilyj , Wyoming 83127 [lip ('lIde] TOGETHER WITH all ¡]le improvel1lems now or haeafrer erected on ¡]le properlY, and aIJ easemenrs, appurtenances, and fixtures now or hereafter a pan of the properry. All replaœlIlellls aJICI additions shall also be covered by ¡]IÍs Security InstnuuenL All of tlie foregoiug is referred LO in this Security Instrumem as the "Propeny." BORROWER COVENANTS lIlat Borrower is lawfully seised of the esrale hereby conveyed :Illd has the right to l1Jongage, gram and convey ùle Property alld ùJar the Propeny is unencumbered. excepr for encumbrances of record, Borrower warraIHS and will defend generally the rille to l]¡e Pruperry against all claims and demands, subjecr to any encumbrances of record. THJS SECURITY INSTRUIvlENT combines uniform covenaJ][s tUr natiolla] use amI J!lJJl-lIlliforrn covena1Jts wi¡]1 limiteel variations by jurisdicrioll to cU!1Sritute a uniform securjry iJ!slnllllem clJvering real property. UNlFORl'vl COVENANTS. Borrower and Lender covenant amI agree as follows: ]. Payment of Principal, Intel"est, Escrow Items,Prepa.\'Intnt Charges, and Late Charges. Borrower shall pay when due the pri1lcipal of and inreresr on. the debt evidenced by the Note ~Ind any prepayment charges and lale charges due under [he Nore. Borrower shall ~¡jso pay funds f()J Escrow hems pursuant (0 Section 3. Payments due under rile Nore and ¡]Üs Security InstrullJem shall be' tnade in U.S. currency. However, if any check or oÙJer insrnJl1lem recei\ eel by LellCleJ as p,aYJlleJ]( unde1 tIle Note ()J [his ,.,- I ~<"\" .' ,t ,~~ '1Ittr!' Irltl;:;!1 j.t,j'l-" ~_-6(WY)I00051 F'oec:iot15' Vfl)- Forrn3051 1/01 ~® ':J' (. f( (, 1 ,_~~: ___~ ~_, ~. ~ ·11.... Security lnStrUlllem is returned [() Lender unpaid, Lender limy require that auy or ~Ill subsequelJ[ pa)'ments due uncler the Note and dlÌs Security 11IStrumelll be made in one or lllore of the following liJlJns, as selected by Lender: (a) cash; (b) money orde'r; (c) cenilied check, bank ched:, treasurn's Llleck or caslJÌer's check, provided any such check is (if:ll, II upon an instiruLÌc1ll \\'liose deposirs are insured by a federal agency. instrumentality, or emiry: or (d) Ekclf(1Ilic Funds Transfer. PaYJllellIs are deemed received by Lender wheu received at ùle ]oca¡iou designarec! in the Nu¡e or a¡ such (J¡ller locarion as may be designated by Lender in accordance with ¡he nutice provisions i 11 Secrion 15. Lender n1£IY rerum any paY1l1em or panial paymem it ¡he paymem or panial paymems are insuHicieJl[ [() bring the Loan current, Lender may accept any paynlent or panial paYllJem insufticient [() bring the Loan cunem, WiÙlOut waiver of any rights hereum!er or prejudice to its rights [() refuse such paymem or panial payments in dIe future, blll Lender is lllH obligated to apply sudl paymems at tlie time silch p:lymems are accepLed. If each Periodic Payment is applied as of its scheduled clue date, then Lender llee'cI not pay imerest cm ullapplied funds. Lender nhlY hold such unapplied funds umil Bmrower makes p:lYlnellt to bring Ihe Loan cLlrrem. If Borrower does not do so within a reaSll1hlble pniod of time, Lender shall eitller apply such funds or retLIrn dIem [0 Borrower. If not applied earlier, SLldJ funds will be applied to Lhe oUlswnding principal balance under the Note inunediately prior to foreclosure. No otlSèt or claim wlLich Burnlwt:r might ha"è no\\' or in the future agaiust Lender shall relieve Borrower hOIl! making payments due under tllè Note and ù1Ís Security IllStnnneJH or performing the uJlenallts and agreemellls secured by this Security lnstrumem. 2. Application of Payments or Proceeds. Excepl as Olherwise descrihed in this SecriOlJ 2, aII payments accepted and applied by Lender sliall be applied in tlle foIIowing order of priority: (a) imerest due under die Note; (b) priucipal clue under die Note; (c) amoums due under Section 3. Such p:lymems shaJJ be applied to each Periodic Payment in tlle order in which it beCalJle due. Any remai¡Üng :IllJlJU!ltS shall bè applied tirst [0 late charges, secoml to any otller amoumS due under this Security IJlstrLlmem. and then to reduce dle principal balance of the N()[e. If Leuder receives a paymem from Borrower for a delinquem Periodic Paymem II'llic ¡ includes a sufticiem al1loullt to pay any late charge due, dIe paymem may be applied to the de1inCjuelll p;lyment and the late charge. If more ùlan one Periodic Paymelll is outswnding, Lender may apply allY paymem received from Borrower to the repayment of dIe Periodic PaYJJìèJLlS if, aud to the extent th:ll. eadl paYlllem call be paid in full. T.¡ the extem [hat any excess exists after dIe paynlem is applied to the fu!l payrnem of Olle or more Periodic PaYlllel1ts, such excess Illay be applied to any ]ate dl~lrges due. Volumary prepaYlllelHs shall be applied first to an)' prepaymem charges and then as described in the Note. Any applicatiou of payments. insurance proceeds. or Jvlisc:ellaneous Proceeds to princip:tl clue' uuder the Noœ Sh:l!l not extend or postpone the due date, or change the amOUJl[, 01 tlJe Periodic P~lymeJl[s. 3. Funds for Escroll Items. Borrower shall pay [(J Lender on the day Periodic Payments :Ire due under tj¡e Note, umil the Note is p:lid ill full, a sum (the "Funds") (U provide j(lr paymelll of anj()ulllS due for: (a) taxes am! assessmems and miter items wlJiLlI call :l!lain priority over tllis Security Inslrumem as a lien or encumbrance UIl tile Propeny; (b) leasehold paymellls or ground rems on tlIe Property. if any; Ic) premiums for any and all insurance required by Lender under StLljlJll :1: amI (d) !Vlo11gage Insurance premiums, if any, or any sums payable by Borroll'er to Lender in ¡ieLl uf lile P;IYllIèl1l of I\longage 1 nsmance premiums in accordance with t]¡e prlJV isious of Section 10. These items are cajJed "r::scrow [tems." At origination or at any time during tile term of die Loan, Lellder mal' require that Comlllunity Association Dues. Fees. ami Assessmems, if any. be escrowed by Borrower. amI SUdl du<:\ fees and assessmems shajJ be an Escrow hem. Borrower skill promptly 1UnÜsh [() Lender :¡Jluotices of alnOUllLS to be paid under tlIis Section. Borrower shall pay Lemler the Funds f(Jf Escruw Items unless Lender waives Borrower's obJigarion to pay tile Funds for any or al1 Escrow Items. Lender nmy waive Borrower's obligation to pay [I) Lender Funds for any (Jf all Escrow hems at any time. Any sllch waiver lJJay only be ill writing. In the evellt of sucb waiver, Bormwer shall pay directly, when and where payahk the: :IIIHIUlltS \' f' \) A' \ ·t· .' -'\):\ ,) I ~ ¡/. "....¡~' r 'I \ \.¡ 11""ÔC'9,à <Q -6(WY) 100051 ® p¡;;gt: 4 of 15 Form 3051 1 101 c·'~ 'I!:......Ji~ (. (\ Î' I''-) ,', í") - '\) i.! , ~~ ~ due for any Escrow hems for which paymem of Funds has been waived by Lelldc.:r amI if Lemler requires. shalJ furnish IO Lender receipts evidencing such paymem within suc]] time period as Lemler llL.lY reLjuire, Borrower's obligation to Iliake such paymeJ)(s and to provide receipts sktlJ fur all purposes be deemed to be a covenant and agreemem coJJtained in this Security IHstrumeJ)(. as the pl¡rase "covenam and agreement" is used in SeCLion 9. If Borrower is obligated [() pay Escrow ltems directly. pursuallt to ~l w~liver. ~ll1d Borrower fails w pay the amount due for an Escrow Item. Lelider may exercise its riglJts under Sectioll 9 and pay such all10um and Borrower shall tlJell be obI igated uHder Section 9 [0 repay to Lemler any such amoum. Lender may revoke the waiver as [() any or all Escrow Items at aHY [ilile by a ¡1,HICe given JJI accordance with Section 15 and, upon such revocation Borrower sh~tll ¡XlY [() Lender all Fuuds. and in such amounts, that are then required under Lllis SeclÍon 3, Lender may, at any time, collect and hold FUlids in an alUOU1J( La) sufíïciem [(I permit Lendn to apply the Funds at the time specitied uncler RESPA, and (b) not (() exceed the J1laxinllUJl ~11J]OU11l ~I lender L:an require uncler RESPA. Lemler sha]] estimate ¡he amOUlll of Funds clue on [lie basis of L'lIHem clara amI reasonable estimates of expendimres of future Escrow hems or otherwise in accmdance with Applicable Law. 'flle FUlids shall be held in an institutiolJ whosè deposits are insured by a federal agency. instrluuemality, or entity (including Lender. if Lender is an institution whose deposits are so insured) or in any Fedèral Homè Loan BanK. Lèlldèr shalJ apply tlle Funds to pay tlte Escrow Itellls WI Jater [han tile time specitied undèr RESPA. Lender shaJllJ(J[ charge Borrower for Ilolc!ing and ~Ipp]ying [he Funds. annuaJly' analyzing the escrow accoum, or verifying the Escrow hems. unless Lemler pays Borrower imerest Oil the Funds and Applicable Law pernùts Lender to make such ~¡ charge. Unless an agreeJllellL is luade in writing or Applicable Law requires imerest to be paid on the Funds. Lender shaJl nO[ be required [(J pay Borrower any imèrest or earnings on the Funds, Borrower amI Lender can agree in writing, however, that imerest shall be paid on the Funds. Lender shaU give to Borrower. without charge, an allllUal accouu[ing of the Funds as requirecl by RESP A. 1f there is a surplus ur Funds held in eSCf()\I as detined umIer ]<'ESP¡\., Lender shall account to Borrower for dIe excess funds in accordance with RESPA. If t]¡ere is a shortage of Funds ¡¡eld in eSCf(m. as detined uuder RESPA. Lender shall notify Borrower as required by IU:SPA, and Borrower shall pay to Lender tbe amount necessary to make up the slj(Jrtage in accordance wÍLh I<.ESPA, but in no Illore tllan l2 month]y paymems. If there is a ddiciellcy of Funds held in escrow. as detiued under RESPA. Lender sha]] nutify Borrower as required by RESPA, and Borrower shall pay to Lemler tlle amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 ll (JIlthly p~IYll1ents. Upon payment in full of all sums secured by this Security InstrullJe]][, Lender shaJl promptly re1uud to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shal1 pay all taxes. assessments, charges. lines. amI impositions attributable to Llle Property which can atcain priority over tlris Security InStrLllnellt. kascllOld payn1elltS or ground rents on the Propeny, if any, and Community Association Dues, Fees. and Assessmems, if ~lllY. To the eX¡elH [I¡at these items are Escrow Items, Borrower shall pay them in [he maJlllèf prov idecl ill SeuioJl 3, Borrower shall promptly discharge any lien which has priority over this Security 11JStruIllèm unkss Borrower: (a) agreès in writing [0 ¡J1e payment or tbe obligatiun secured by tile lien in a ]]],lll1¡er acceptabk to Lender, but only so Jong as Borrower is perfurming such agreement; (b) contestS lhe lien ill good raith by, or defends against entÒrcement of the ¡iell in, legal proceedings wl¡ich in Lenders opjnjon operate [() prèvem [he enforcement of the lien wltile those proceedings are pending, but ()]11y umil SUC]l proceedings are concluded; or (c) secures rrom the holder of the lien an agreement satisíÚctory to Lender subordinating tlIe lien (() this Security Instrument. If Lemler determines LI¡a¡ any pan of the Property is subject to a lien which can attain priority over Ll1Ís Security Instrument, Leuder may give Borrower a notice identifying the ~ -GIWY) 100051 ~) F-' ""9<= 5 of 1 5 /1 ~/ . t "," '\ ,; Vi,) /l \ '~'WU)¡ tv In,tl~-L;;:1-....:.....~/V:.li ~/ "J ;: t.i Form 3051 1/01 .'.:.:. S·1. r, I\ n 1''1 ". r, .".. \} , U.:.j > lien. \Vitj¡in 10 days of the date OIl which that notice is given, Borrower shall satisfy the lieu or take ()He or lUore of the actions Sêt forth above in ùÚs Section 4. Lender may require Borrower [(J pay a one:-time charge for a real estate [ax vailication ami/or reporting service used by Lende:r in cowlectio1! with this Loan, 5. Propert.\' IJlsunmcc, Borrower shall keep the illlprovemems now existing or here:aher ercLled on tbe Propeny insure:d against loss by 1ire, hazards included wiùÜn the: term "extended coverage," ,we! any otha hazards including, but not limire:d ro, eanhquakes ami tloods, fllr which Le:nder requires imurance. Ibis insuralll.'e shal1 be maintaine:d in the amounts (including ckclLlcrible levelS) and fllr [he peri lids ùw Lemler requires, \Vhat Lender re:quires pursuant (U the preceding sentences call change during Ùle term of the Loan. Tbe insurance carrier providing the insurauce sllall be c!]()Sen by Borrllwer suhje:Cl (II Lender's right to disapprove Borrower's c!wice, which riglH shall not be exercised unreasonably. Lemler may require Borrower (U pay, in connection widl ùlis Loan, eiùler: (a) a one-time charge 1(11 noud zone detennirwtioJJ cenitication and tracbllg savice:s; or (b) a one-[iJ1Jt~ charge: If)] tlood ZlJlle detemlÍlwtioll and certitication services and subse:quenr charges eacb time remappings IIr similar change,s occur which reasonably might affect such determination I)r cenitication. Borrower shall also be respu jsibk for Ùle paYl11em of any fees imposed by the Federal Emerge11L'Y Jvlanagemem Agency in L'!)uJlectioll with the: review of allY flood zone detennimtion resulting from aJJ objection by Borrower. If Burrower fails to maintain any of ù1e coverages described abu"e. LeJICler Jl}ay obtain i lisurallL:e coverage:, at Lenda's option and Borrowe:r's expense, Lender is umler ILO ubJigatiou to IJLlrciJ,lse ,IIlV particular l) pe or amOU!H of coverage. Therefore, such coverage shall cover Lemler, but mighl or Illigln JlO[ pruœct BOlTowe:r, Borrowe:r's equity ill ùle Property, or ùie Cul1lelllS of the Property, agaillst any risk. hazard or liability aILd might provide gre,¡ter or lesser coverage Ùial! was previously iJl eflècL Borrower acknowledges that the coSt of the: insurance: coverage so obtained núglll signilica1llly exceed the: cost of insurance Ùlat Borrower could have: obtained, Any amOLlIHS disbursed by Lemler under [his Seujol1 5 shall be:ClHl1e additional debt of Borrower secured by this Security Insmllnem. These aJllOUJllS sball bè,¡r ilHe:re:st at dIe Note rate from the: dare of disburseJl1e:11l and shall be payable:. with such ¡me:reSt. UplJIJ Jlotice from Lende:r to Borrower reque:sting paymem. All insurance: policies required by Lellder and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall jnclude a staÌ1dard mortg,¡ge: CLIUSe:, ami shall Ilame LeJICler as mortgagee and/or as an additiomd loss payee. Lemkr sha1l have ùle right to lJold the policies ,¡Ild renewal certiticates, If Lendl~r requires, Borrowe:r shall promptly give to Lender all receipts of paid premiums amI renewal notices, If Borrower obtains any form of insurance covc:rage:, not otherwise: required by Lender. for damage LU, or destructjon of. the Prupe:rty, such policy sl¡a]J include a sLaJldard JIlortgage cbuse: and sha1l name Lender as mortgagee: and/or as an additiollal Joss payee. III tile evem of loss, Borrowc:r sball give prornpt notice to Ùle: insurance: carrier ,md LendeJ Lender may make proof of loss if not made prumptly by Borrower. Unless Lender aJICI Borrower otherwise agree in writing, ,Iny insurance: proceeds, wheùle:r or nO[ [he uncJerlying imuraJlce was requirecl by LeJlCler. shalJ be applie:d to reswratiol! or repair of the Property. if the rc:sroration or re:pair is e:coJlomil',¡lIy fe,lsibJe and Lender's security is nOt lessened. Dnring such repair and re:sroration period. Lemler shall h,lve [lIe riglll to hold such insurance proceeds ul1lil Le:nder has had an opportunity (( il1speu such Property t(j èl1Sure: the work bas bee:n compkted to Lender's satisfaction, provided tba[ such iuspectÎlJJ1 sh,d] be undertaken promptly. Lender may disburse proceeds for the repairs and res[OraLÌon in a single paymeJl[ III in ,I serie:s of progress paymems ,IS tilt: work is compkted, Unless an agreement is JlJ,IC!è i [i wri ting or A ppJil',lble La\\ requires imeres[ [0 be paid on such insurance proceeds, Lender sl¡all no[ be required to pay Borrower any imerest ur eal1lings on such proceeds. Fees for public adjusters. IIr orber [Ijird parries. relained by Borrower shall not be paid out of the: insurance pmceeds and shall be [be silk obligatioJl of Borrllwer. J r (he: restoratioll or repair is not ecollolnicaJJy feasible or Lellder's security would be: lesseuc:cl, tile insurance proceeds shall be applied to the sums secured by t[¡is Security Inslrumem. \\llethe:r or JlO[ lhell due, with «G -6(WY) ICeJ051 ® F'dg~ócl15 \~-" / Ir"'¡'I::J~~ (", ),Iil/i) -'\ "}') Form 3051 1 /0.\ .1~. ...~~ ;J£.. ('. /""\ ...... r", :", .."": , ; ': ¡ I \ ' .:' , ',.' \, . J"::1: rhe excess, if any, paid to Borrower. Such insurance proceeds shall be applied ill the order pro\'ilke! for in Seerion 2. If Borrower abandons the Propeny, Lender may tile, lIegolÌme ane! se[[k any a\'ailabk insurance claim a!ld relaled matters. If Borrower does not respund within 30 clays tCJ a notice from Lc:mkr thal the insurance carrier has offered to settk a claim, thell Lender may negotiate and sellk the claim. The 30-day period will begin when lhe notice is given. In eiùler evenL or if Lender aUluires the Propeny under Section 22 or otherwise, Borrower hereby assigns tCJ Lender (a) Borrower's righls ro any insur~l1lL:e proceeds in an amoulll nOl to exceed the amoullls unpaid under the Note or t¡lis Security JnstrLImeJU, and (b) any other of Borrower's rights (otller than the riglu [( any refund of unearned prellliLl1ns paid by Borrower) under all insurance policies covering the Propeny illsofm as such rights are applicable tCJ the coverage of ùle Propeny, Lender may use tlle insurance proceeds eÚ]¡er to repair or restore llle Property or to pay amounts unpaid uncleI' tlle Note or ùlis Security Inslmmel1l, whether or not then due. 6. Occupancy. Borrower s!Jall occupy, establish. and use the Propeny as Borrower's principal residence withiu 60 days after ùle execLllion of dÜs Security Instrumem and shall comjnue to occupy ùle Property as Borrower's principal residence for at least one year afeel the date of occupancy, LlllleSS Lender OÙlêf\lise agrees in writing, w!Jich cOllSem shall not be unreasonably withlleld, or ullleSS extel1Llating circumstances exist which are beyond Borrower's control. 7. pJ'eservation, J\laintenance and Protection of the Property; Inspections. BUf!'owc:r SII~¡J1 ¡101 destroy, damage or impair tbe Property, allow llle j'jupc:ny to detaiorate or COI1] ]llr WaSle on [he Property. \VhetlJer or not Borrower is rc:siding in the Property, Borrower shall JllailllaÙj tIle Property in order to prevent tbe Property from deteriorating or decreasing il1 value due to ils coudi tiol1. U l¡Jess ¡I j, derennined pursuam to Section 5 Lllat rc:pair or restoratioll is not ecol1ol1lically feasible, Borrower shall promptly repair tile Property if damaged to avoid further deterioratioJl or damage. [1' insurance or cOlldelllllation proceeds are paid in cOJll1ection willt damage to, (J]' ¡he raking of lhe Property, Borrower shall be respollsibJe for repairing or reStorj¡lg ùle Property only if Lemln lta~ released proceed~ for such purposes. Lender Jl),ay disburse proceeds for the repairs and reStoration in a ~ingk paYl1lem or in a ~eries oj progress payments as the work is completed. If the insurallce or COncklllllalion proceeds ~lre not sutficielll to repair or restore dle Property, Borrower is 111)[ relieved of Borrower's ( blig~ tioll for the cOIllPlctioll of such repair or reswration, Lender or its agem may make reasonable elllries upon ami inspeCliujj~ uf the Property If it has reasonabk cause. Lender may inspect the imerior of the improvemellls un the Property. Lemler Sl¡etll give Borrower notice at tl1e time of or prior to such an interior inspection specifying SL¡ell reasouabk cause. 8. ßorroweJ-'s Loan Application. Borrower shall be iu debuJt it. during dIe LoaJl appJiceuioll process, Borrower or allY persollS or entities actillg at ùle direction of Borrower or witll Borrower's knowledge or consent gave materially L¡Jse, misleading, or il1accurate il1formatiol1 or Stale]j]elll~ [() Lender (or failed [0 provide Lender widl material il1fonnmion) jn cOlll1ectiol1 with the LU~l11, Ivlalerial represematiollS include, but are 110l limited to, representations cOl1celllillg Borrower's occupallcy oJ the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and RighlsUnder this Security Instnlment. It (a) Borrower rails to perform t]¡e coven¡¡ilts and agre:emems cOlHailled in tbis Secllricy []lStrumelH, (bì tl1ere is a legal proceeding that might siglùtïcalltly affect Lemler's inœresl in rile Property aud/or riglll~ undc:r this Security Instrument (such as a pnJCèeding ill bankruptcy, prubate, fur condellUJatioll ur furfeilure, for enforcemem of a lien which llIay attain priority over thi~ Secllriry In~trul1lèJ][ or to enj'mL'C: laws ur regulations), or (c) Borrower has abandoned lhe Property, then Lemler ]l)ay du and pay for wl¡alever is reasonable Of apprupriate to pTCHect Lender's imerest in llle Property and rigJ¡l~ under tl1i~ Sècurity InstrumenL including protecting and/or assessing rhe value of Ùle: Property, and ~ecuriug and/or repairiug the Property. Lender's actiollS can include, but are l10t linùred ro: (a) pelying any sum~ ~eLurecl by a ljen which has l)riorilV uver ùlÌs Security InstrullIem: (b) :¡ppeariw! in court: a ](I (c)j1:lyinL' rc:asonable . . - \/ 1:'- (-k , " /+~\ ') H ,'f,/ Ir,ilì;:,fs ~i r·, ,(t{~t VA~ r C.:6(WY) (00051 "" Fagt: 7 of 15 Form 3051 1/01 . ..',! t1 !., .', ~-- . ',,0 u, Uu attorneys' fees to protect its interest in the Property and/or rigllls llllder ù1Ìs Security IJ1StrLnJlem. includillg its secured position in a bankruptcy proceeding. SC:L'LlrÜlg Il1e P roperry iueludes. bUl is lJO I I imi li:d lO. emering Ùle Propeny LO make repairs. cl1auge locks. replace or ¡ward up doors and \1 i wJows. drai n warer from pipes. eliminate building or uùler code viuLlliullS or d;mgerous cunditions. and have lltilities rurued on or off. Although Lender may take action llllckr ùÜs Section 9. Lender does not Ilave to do so aud is not under any dUlY or obligation to do so. It is agreed thal Leuder incurs no liabilitv for ]jOt {abug ~U1Y or all actiollS autlwrizedunder tlJis Section 9. Anv allloums disbursed by Lender under this Sectioll 9 shall becollle additional debt of Borrower secured 'by this Security Instrumem. These amoulHS shaH he;lr imerest al rite Note rille frum tl¡e date of disbursement and shaH be payable. widl such interest, upon n()[ice from Lender to Borrower requesting paymem. If this Security Insrrument is on a 1e'behold. Borrower shaH comply wirll all rile provisions of the lease, If Borrower acquires fee ritle to the Property. the kasehold and the fee title shall not mcTge unless Lender a!!reeS [() tile meJ"!!er in writin!!. 10. -Mortgage Jnsu;ance. If Le~der required Iv!ongage Insurallce as a condilioJj of lJ~lking llle Lmlll. Borrower shall pay Ùle prenuulllS required to lllaimain tlte Mortgage Insur~lnce iJj effect, If for allY re~ISlllL ùJe !vlongage Insurance coverage required by Lender Ceases to be available hom the mortgage insurer l1la¡ previously provided such insurance and Borrower was required (0 make separ~llely design~lled paYlllelUS (Owanl the prenuums for j'l'fortgage Insurance. Borrower shall pay tIle premiums required to obtain coverage subsramial1y equivalem (0 dJe tv10rtgage Insurance previously in effect, at ;1 cost suhstamial1y equivalem LO the cost w Borrower of tbe f\'Iongage Insurance previously in effeCl. from an alternate mortgage insurer ~elecœd by Lender. 11" subslamial1y equivalent I\longage lnsuralJce CII\ nage is not avai1able. Borrower sha11 continue to pay to Lender lhe alJJOUIlf of tlle separately desigll;lled p~IYlnelllS dlat were dlle when the insurance coverage ceased [(I be in effect. Lender wiII accept, use and relain these payments as a non-refundable loss reserve ill lieu of !'Ilongage Insurance. SUdl Joss reserve sl1al1 be non-refundable, llOtwithstanding 11le fact that the Loan is ultimately paid in tÜIL ~we! Lemler shall llOt be requir.:d to pay Borrower any interesl or earnings on such loss reserve. Lemler can no longer require loss reserve paymems if Mortgage Insurance coverage (in tbe alllouJlt and for ùie period Urat Lemler requires) provided by an insurer sekcred by Lender again becomes avaibble, js oblaiuêcl. ami Lemkr requires separa¡ely designated payments toward tile premÜnns for tv10ngage Insurance. If Lemkr required J\lortgage Insurance as a condition of makiug tbe Loan am! Borrower was required to make sep;lralely desigwlt.:d paymems wward dIe premiullls for I'vIongage Insurance Borrower shall pay tile prenliu1lls r':L uired [(J maintain tl'longage Insurance in effect, or [() provide a lIoll-re1ullCbbk !o.ss r.:serve. ullti! Lêne!er's requiremem for f\' ongage Illsurance ends ill accordance Witll any writlen agree1llem belween Borrower amI Lene!er pruviding for sucb ternÜnatioJ1 or umilternÜlIation is requir.:cJ by AppJic,¡ble LIII. NOIlJiug ill this Section 10 affecls Borrower's obligation to pay interesl at tile rale provjckc1 inlhe NOle. Mongage Iusunmce reimburses Leuder (or any emity tbal purchases the Note) for cenain losses it may incur if Borrower does not repay the Loau as agreed. Borrower is not a parry 10 tl1e f\longage Insurance. Mortgage insurers evaluate their tulal risk on all such insurance in force from time to time. :wd may emer into agreements witb o¡[Jer panies thar share or 11luclify their risk.. ur reduce losses. T]les.: agreemems are on tenus and couditiulJS Ùlal are satisfactory [() c!Je mortgage imurer aue! die otller pany (IJr panies) [() these agreements, TlJese agreementS may require the mortgage insurer to mak.: paYJìJellts llsiug allY source of fuuds ùlar the murtgage insurer UMY llave available (whiclllllay include 1uuds obrained from Mortgage lnsurauce premiullls). As a result of lhese agreelllelHS. Lender. any purchaser of the Note. allot!Jer jnsurer. an) rei IlS ltIL' I , any utller entity ur any anïliate of ;lllY of Lite foregoing. may' recei\'e (c!irecll) or illclireCllYI ~lnIOUI![S tltal deri ve from (or might be characterized as) a portioll of BI¡1TOwer' S paymellls I'm Mo ngdge Insurance. ill exchange for slJariug m modifying the mongage insurer's risk, or r.:cluciug lIsses, if SUl:!1 ~lgreel!1':lll provides ¡hat an aftïJiate of Lender takes a share uj the insurer's risk in exchallge fm ~I Sh~lIl~ Iii the premilllns paid to the insurer. Ùle arrangemeJl( is orren termed "captive rejllSUrallce." IClInher: (a) Any such agreements will not alTeet the amounts that Borrower has agreed 10 pay for Mortgage Insurance, or any other terms of the Loan. Such agreements \1 ill not iJlcn~as(' the amount BOlTo\\er will mIl' for 1\lo¡-tgage Insurance, and they \\iUnot entitlt Bon~OI\('r to any ¡"tfund. }" ",/ ,h,"''" ,":I f ~~el ,),1 Ir¡illq1-..: ^'-... ' ~/_;¡/... C·6(WY)IOOGSJ fC":1òoof"15 "Forrn3051 1/01 (EJ :];;1 ('. (\ r"'__ ''''j : ~. (""'J '- ,) \..' , ,_-, u (b) Any such agreements will lIot affect the rights Borrower has - if any - \lith respect to the Mortgage Insunlllce under the Homeowners Protection Act of 1998 or an.I' other hm, These rights may include the right to recei ve certain disclosures, to 'equest and obtain cancellatioll of the .Mortgage Insurance, to have the .Mortgage Insurance terminated automatically, and/o ' to 'ecei I'e a refund of any Mortgage Insurance premiums that \\ere nnearned at the time or such cancellation or termina tion, ] I, Assignment of Miscellaneous Proceeds; Forfeiture. All !vlisLellalleous ProLèeds are l!ereby ~lssigned (0 and shall be paid [() Lender. If the Property is damaged, such lvlisLdlal1èous Proceeds shall be applied [() restoratioll 01 repair of the Propeny. if the resroration or repair is eCOll(¡Jllically feasible amI Lmder's seLuriry is lIot lessened. During sULh repair and restoration period, Lender shaJJ have the rig] ( ((J hold sud! lVlisLellaneOlls Pn)Leee!s until Lender has had an opponunity to inspect such Propeny ro ensure the work has been Ltlmpletee! [I) Lender's satisfaction, provided that such iJlspection shed] be LllldenakeJ1 proll1prJy. Lene!er 1l1~1\ Iny lOr tile repairs and reswratioll in a single disbursement or ill a series of progress paYlJleJl[S ~IS tjw work is LompJeted. Unless an agreemellt is made in writing or Applicab1e Law reCJuires jmerest to be paie! OJ1 such Miscellaueous Proceeds. Lender shall not be reCJuired w pay Borrower allY imerest or e~!mings on sULh l"liscellaJJèous Proceeds. If dIe rèstoration or repair is not eLoJlollJicalh kasible or Lemler's sèLUrity would be lessened, £l¡e !vIiscellaneous ProLèeds shall be applied to Li]e sums sècured by this SeL'urjty ] IlSlrllJ1lelll, whedler or not dlen due, wid] the excess, if any, paid to BornJ\ver. SULh JVlisLèl1aueous PnJLeee!s sll;dl be applied in dle order provided for in Seuiol1 2. In d]e evellt of a wtal taking, destruuion, or loss in value of the Property, [he :\ljscellaneous Procçeds shall be applied to tile SllIllS secured by dlÍs Security luStrumenL whether or mil tlleu clue. with the excçss, if any, paid to Borrower: In ¡Jle evem of a panial takiug, destruLliol1, or loss in value of the Property in whidl dlc EliI' market value of the Propeny inl111ediatdy before the partial taking, clestrlluio ]. or loss in value is equ~d [0 or greater tllan tile aIllOllm of the sums secured by this SeLurity Jnstnunej][ immediately before tl¡e partial takin!..'. deStructiol1. or loss in value. unless Borrower and Lender otherwise a!..'ree ill wriril1!..', tlie SlllllS seLlJr~d by tl1is S~LUrity Instrument shall be reduœd by ¡Jle ~unoum of tl1e- ìvJisLèllaue()L~s Proœeds muJriplicd by the following fraction: (a) the total amoum of the SUlllS seLluee! immeclia[ely before ¡Jlè partial raking, ckstructiol1, or loss iu vallle divided by (11) dle LÜr market value of tlle Propeny inuuedi~ltely before ù¡e partial taking, destruLtion, or loss in value. Auy balanœ sha1l be paid to Borrower. In d]e evem of a partial taking, destruLtiou, or luss iu value of the Property in which the fair marker value of the Property immediately before dIe panial taking, destructiou, or loss in value is less tlwn tIle amount of d]e sums secured imlllediately before tlle partial taking, destruuiolL or loss ill value, ulùess Borrower and Lender Od]erwise agree in writing, the !vlisLèllaneous PruLeeds sha1l b<: ~Ipp]iecl [0 tile sums securecl by this Security Instrumem whether or not the sums are then due. If dle Propeny is abandol1ed by Borrower, or if after no[jce by Lender to Borrower [ha[ dIe Opposing Pany (as defined in the next sentence) offers to make an award to Sè[L!e a claim Jill damages. Borrower fails to respond [0 Lender within 30 days after the date dIe n()[iLè is given. Lender is aLIlI1Urized to Lollect amI apply dIe !vIisLellaneous Proœeds either to restoration or repail of the Propeny or to ¡]le Stuns secured by tlris Security InstrunlenL whether or u()[ dle11 due. "Opposing Party" mè~lJJS the third pany ù¡at owes Borrower j\ifisœllaneous Proœeds or tIle pany agail1Sl Wll01ll Borrowèr has a right of aLtiol1 ill regard to Misœllaneous Proceeds, Borrower shall be iu default if a11Y anion or pmœediug, whe[ller Livil or cril1uuaL is begull [baL iu Lender's judgment, could result in furkiture of [he Pmpeny or other nlalerial ill1pairmej [ of Lemkr's imerest in the Property or rights under this Security lustruUlem. Borrowèr can Lure sucl¡ a default and, if aLceleraLÍon has occurred, reinstate as provided in SeLtioJj 19" by LausiJjg tlle action or proLeecling [() bè dismissed with a ruling dlat, in Lender's judgment, precludes furfejrure of the Property or o[her l11atèrj~¡) impair1llènt of Lender's imerest in the Property or rights under [his Security InslrllUleJj[. The proceeds of any award or claim for damages d]at are attributable to the iUlpaimlèm of Lemler's imerest in ùle Pmpèny are hereby assigned and shall be paid w Lender. All IvlisceIlaneous Proceeds that are ]]ot applied tli restoration or rep~¡¡r of [he Prupeny sli:¡)! be applied in dIe order provided for in Section :2. ~ -6(WYIIC.OOSi ~® r:'~g:: 9 of 15 ~ II ( '-'1 ,f ..~. ~.# /~-i "",;,Lp vY w r Form 305'1 1/01 '''·,'-''_f-''_l''':.'.~ ;, :' '; ,I l ") ~ 12. Borrower Not Heleased; Forhearance By Lender Not a \Vai \'cr. ExtelJSÜ)ll lif tlte time tor paymem or mudification of alllonizatioJ1 of tlIe sums secured by tl1Ìs Security llhlrtllllem gramed by LeJlder to Borrower ur any Successor ilJ Interest of Borrower sl¡¡dl Jlot operate to relc:a~c tbe liability of Borrower or any Successors in Imerest of Borrower. Lender shall ]jot be required to COllHllence pruceedings agaiJJst any Successor i]j Inttresl of Borrower or IO refuse to extèJ1d time for p:IYlnèl1l or (Jlhcr\\ise: IllUdi1\ amortizatioll of the Stuns secured by this Se:curity lnstrumem by reaSOH of any delllalJd lll:lde by the urigilJal Borrower or any Successors in [merest of Burltlwer. Any forbearanL:t by Lemlc:r iu e:xercisilJg :IIlY right or rèllledy induding. without limitation. Lender's accepIanœ of paymellls froJJl third persons. elllities or SuccèSSorS inlmerest of Borrower or in aU10UlHS kss than the a1l10l1111 [hell due, shall lIO[ be: a waiver of or preclude the èxe:rcise of any right or remedy, 13. Joint and Several LiahiIit~,; Co-signers; Succes~'ors and Assigns Bound. Borrower L()\'ell:Il][S and al':rees that Borruwer's obliuations auclliabilitv shalJ be ¡oill[ alJd sevc:ral, However. am Borrower who co-signs this Security InstlTlm;m but does not execute th~ Note (:1 "co-signer"): (a) is' co-siguing this Security Instrumem only to mortgage, gram and convc:y tbe co-sigHe! 's ilHèJ"e:sr in rhe Propeny uJJder rhe terms of this Sècurity Instrument; (b) is llOt personally ubligaled to pay rile sums secured by tllis Security InstrLul1elll: and (c) agrees that Lèuder and any orller Borrower can agree [0 extèucL nlUcliry, J(Jrbear or makè any accoJlunodaÜons with regard to tile terms of rhis Security IUS[rUlllelll or thè Note witlJUut dIe co-sJgner's consenr. Subjeer to the provisions of Seerion 18, any Successor in Imerest or Borrower \\ho ;Issumes Borrower's obligariollS uncler this SecuritylllslrtllllèJ!t in \\Tirillg, and is :¡pproved by Lemler. shall obrain all of Borrower's rights and bendï[s unclèr this Security InsrrtJment Borrower shall not be rde:lsecl from Borrower's ubligarions anclliability lwcler rhis Secu1Íry Jusrruwem unless Lemler agrees to sucll release in writing. The CO\'enams and agreemems of tllis Se:curity In:,trumem shall bind (exctpr :IS provided iu SeerioJJ 20) ami bendïr rhe successors aJJd assigJJS of Lender. 14. Loan Charges. Lender lll:'IY charge Borrower ftes ¡in serl'ices perf(Jrlllecl iu conneuiou willi Borrower's default, for the purpose of protecring Lender s imeresr iu [lie Property aud righrs under this Security Ins tlTllllem, iJJcluding, but not limited tu, a[wrneys" fees, property inspectioll aucl valuation fees. In regard to any orlJer fees, rile absenLe of express ;¡uthorÌly in this Security JJJStrtJllleJJt [(J cllarge a specific fee tu Burrower shall not be cO!1srrued as a prohibition on rile charging of such fee, LellCkr nwy 11()[ charge fÚs rhat are expressly prol1Ìbired by rlJis Security Insrnllnem or by Applicabk Law. ]f the Loan is subject w a law which sets maximum loan charges. :Ind tIlar Jaw is ïna]]y interpreted so that the imerest or orller loan charges LoIlècred or [(J bè collec:red in connecrjoll wirb tile LO:UI L·XL:eed the permirred limits, then: (a) any such loan charge slJaIl be re:cluctd by [lIe a1l1OU1ll necessary [(J reduce ¡]le charge w the penllinèd limit; and (b) allY StilUS already coJkcred from BlJllolI'er wl¡icll nceeckd permined liJJlits wi]] be refunded to Borrower. Lender may L:llOose [() 111a[.;e llJis refund by reclucjJl~' the principal oWèd under rbe NUle or by making a dirèct paymem [0 ßorrower. Jf a refund reduces principal, tile reduction will be lrèated as a partial prepaymem WiÙJOUl any prepayment cllarge (wherl1er or not a prepayment charge is provided for under the Note). BOJTower"5 accèptanCe of any sucl¡ rdum! made b) direct paymem [0 BonowèJ' will c01lStitute a wai \'er of any rigJ¡¡ of action Burrower might hal": arising Oll[ of such oVèrchargè, 15. Notices. All llolices uiven bv Borrower or Lemkr in cOJlnectim1 with tilis Securit\' JJJstrtlmem mus[ be in writing. Any notice -[CJ Borr;Jwer in cOlUlecrion Witll this SeCllriry j11stnnne ][ shall be d~e1l1ed [() bave been given to Borrower when mailed by Jirst class l1l:.lÌI or whè11 actually delivered [0 [3orro\\'er"s notice addrèss if sent by other means. Notice [(J anyone Borrower slJall constitute wJlice [() all Borrowers unkss Applicable Law expressly requires orllerwise. Tile norice address shalJ be ¡]Je Propeny ù.ddress unless Borrower has designated a substitute notice address by nmice to Lellder. Borrower sh:dl pJ'()1Jlptly norify Lender of Borrower's change of address. If Leuder specitïes a procedure for reponiug Borrower's change of address, then Borrower shall only repOl,[ a c]¡~l1lge of address rlmlllgh that specified proceclme. There 111a\ be unlv one desiunated notice address under dtis Securirv InSll'llll1e ][ ~It :111\ one lime, Anv norice [() Lenda sÌlaJ] be gj\~èU by dc:Jil'ering it or by wailing it by ' irst class mail [() -Lender's adelres's stated herein unless Leuder lJas designated another address by nutice to Borrower. Am,' nOliL'è in cO!UJectÌon wi th this Securi tv l11srnunem shall 11m be deemed [() lJa ve beell L'i \'ell [() Lènder u'mil aClllall V received by Lender. If any ~lorice required by this Security ]USlnUnelll is also re:c¡uired UJlCkl' Applicable La,w.. the Applicable Law requiremew will satisfy the corresponding rec¡uirell1em lßder this Security 111so U1llent. ~,,( t' /, )~j\/ , .J)'. "It' ¡"""'0p-.p¡/: . o..-6IWYI¡OOÚ51 \~) P;:';If' 1 Ü of! 5 Form 3051 1/01 _. ..~.,. .·_0~ (-, """\ .{; f ~.: t-¡ ,;,.' ¡; Ü Hí. GOl'eming Law; Severability; Rules of C01\struction. This Security usmllnem shall be govenu::d by federal law and the law of tbe jurisdiction in which the Propeny is located. All riglns and obligations cumained in this Security lnstrumem are subject to any reqLLiremems and limitations of Applicable Law. Applicable Law might explicitly or implicirly allow tile parties to agree by UJl1[ract or it might be silem, bur such silence shall nut be construed as a prohibition against agreemenr hy comracr. III dIe event dlat any provision or clause of this Security IllStrulllenr or the Note coutliers wirll App]iulble Law, such cont1ict shall not affect other provisioJlS of this Security Jl1strumenr or t[le Note which c~!ll be gi I'en effect without the conflicting provisioll. As llsed in dÜs Security InstrulllelU: (a) words of the n"41sculine gender shall mean ami include corresponding neuter words or words of the fel1lilllne gender; (b) words in the singular shall Illeall aucl include the pJural and vice versa; ami (c) the word "may" gives sole discretiou witbuut am obligatiun ro rake any action, 17. Borrower's Copy. Borrower shall be given one copy of the Note and of tbis Security Il1smlmem, ] 8. Transfer of the Property or a Beneficial Interest in Borrower. :'.s used i]] tlJÎs SeL'lion 18. "Interest in tIle Property" Uleans any legal or beneticial imerest i]] the Propeny, including, but IlUt limited to, tIlOse bene1icia] imerests transferred in a bond tÙr deed, comracr for deed, installment sales comract ur escrow agreemellt, rIle imelU of which is the transfer of title by Borrower at ~¡ future date to ~I purchaser. If all or any parr of the Propeny or any Jnterest ill ¡lIe Propeny is sold or trallsferre::d (or if Borrower is not a namral perSOll and a bendicial interest in Borrower is sold or transferred) wj¡] ()Ut Lender's prior wrirren consent. Lender may require inunediate paYJllel![ in full of ~dl sums secured by tIjis Security Iustrument. However. this option shall nut be exercised by Lemler if such e::xercise is pmllibited by Applicable Law. If Lender exercises rIlis option, Lender shall give Borrower notice: of acceleration. The J]I)tice slla1l provide a period of not less dJan 30 days from the date tlJe notice is given in acuJrdance witl] Seuion 15 within which Borrower must pay all sums secured by this Security hlStrumenr. If B'JJTower 1ÜiJs I() pay dlese SlUllS prior to tbe expiration of this period, Lender may invoke any remedies permitted by this SecLIriry Instrument witIlOut furrIler notice or demand on Borrower. ] 9. BOlTower's Right to Reinstate After Acceleration. 11 Borrower IIleetS certain UJmli tioJ1S. BOJTower shall have the right to have enforcelueur of this Security InstrullJeJll discominued at all\' time prior to the earliest of: (a) five days bdÙre sale of tIle Propeny pursuam to any power of s,de cOJl(ained iu this Security Instrument; (b) such otIler period as Applicable Law nllght specify for the lermination of Borrower's ri!!ht to reinstate: or (c) emrv of a jud!!lllem enforcin!! this Security InSlnllllelJ(. TllOse conditions are- that Borrower: (a) pays Leilder all' SU~lS which then -\\otild be du~ Linder tl¡is Security IJlStl1!mem aud the Note as jf no acceleration had occurred: (b) cures any default (Jf any OlIJer C(JVC'WlnlS or agreelllelltS; (c) pays all expenses incurred in enforcing ùlÌs Security InstrullJenr, includjng, bUl !lot limited to, reasonable attorneys' fees, property inspectjon and valuation fees, and otller fees incurred ÚJr the purpose of protecting Lender's jnterest in the Property and rights under this Securjt\' IIlSlrUIlJem: ~lJld (d) takes such actiou as Lender may reasonably require to assure Ùlat Lemler's imerest in tI]e Property and rights under this Security Instl1!mem, and BOJT()wer's obligation to pay the sums secured by lllis Securjt) InsliuJllent. shall colltinue unchanged. Lemler may re::qujre thai Borrower pay such reinSlateJnem sLims and expenses in one or mort uf tIle following forms, as selected by Lender: (a) cash: (b) Illoney order: (C) cenitïtd check, bank check, treasurer's check or cashier's cbtck. pi()vilkd any SLlcb cheeL is drawn llpOIl all insti wtÍon whose deposits are illsured hy a federal agellcy, ins(jumeJl[~di ty or e::llli ty; or (d) Electronic Funds Transfer. Upon reinstatellltnt by Borrower. this Se::curity JnsUTJlllelll and obligatioll' sel'ured hereby shall remain fully etJectjve as if no acceleration bad occurred. Huwever. tbis right [() rejml~ [e ,hall Ill [ apply in the case of accderation under Section ]8. 20. Sale of Note; Change of Loan Servicer; Notice of Cdevance. The NOte or a pani~¡j imerest in rIle Note:: (togc::thtr wirIl this Security JnstrLlmem) can be sold (JIle or Il]ore:: times without prior umice to Borrower. A sale might result in a dlangt iu dje emity (known <IS tbe "Loall Servicer") rIJal collects Periodic Paymems due unda tIle Note am! this Security Instl1!mem and perfofllls otber mortgagt luall servicing obligations under rIle Note, this Secmity JnStrlIIJleJll. alld Applicahle Law. Tltere ~¡hu might be one or lllore changes of rIle Loall Servicer uurelated [() a sale oj Ibe Note. If there is a change u! tile Luan Servicer. Borrower will be give ] written notice u! the change which will Sl<lte the n,lllle ~lJld address oj tIle new Loan ServiceI', tIle address to wbich paymellts should be:: lllade and any mher ildhrJll~ [ion IŒSPA )/ l/ /jJJ "-)1 /¡ßj'·'· -- . jrliti~s:~ ('ic .l!èl' liP ~ -6(WY) (00051 ~~ F<:;~~c': 11 of 15 Form 3051 1/01 "~._ ,~=i JL r' !-\ ,...... '''11:·'' "") ',,: '(: L \,.i .j requires in cOlmec¡ioll widJ a norice of rransfer of servicing,]f the Nore is sold and tlJereafrer the Loan is serviced by a Loan Servicer orller than the pun:J¡aser 01 the No[e, the Jmntgage loan servicing obligarions to Borrower will rel11ail1 wiLli LlJe Loan Servicer or be transferred [0 a successor Loan Servicer ami are l10t assumed by tIle Nore purchaser unless otherwise provided by lite Nore purchaser. NeiLlJer Borrower nor Lender may cOJ1lll1ence, join. ur be joilled ro any judici,¡] ,¡ClÌon (,¡S t.:itlJer an individual litigam or the 1llember of a claSS) rhat arises from [he Olller pany's acriolls pursu,uIl (( this Securi[y Il1strument or tltat alleges that the oùJer p,lny Itas breached any provision of or an\' dmy owed by reason of. this Security Iustrul11em, ulHi! such Borrower or Lender has IHJlilied the odler paIlY (willI such 110tice given in compliance wirlt dlt requireJJ1eJJts of Secrjo]] 15ì of such ,¡]leged breach aJl(1 afJ(lrded t!Jt: other pany hereto a reasonable period afrer tile giving of sl1ch notice tll rake correuive aL'lioll. ]J Applicable Law provides a time period whicb ]]]U', [ elapse before cenain ,luiun t:all be taken. Lllat time period will be deemed IO be reasonable for purposes of this paragraph. The Jl(J[ice of acceleration alld opponunity to cure given to Borrower pursuam (( Secrion 22 and the Jlotice of at:celeration given to Borrower pursuant to Section 18 shall be clèemed to satisfy the notice ami op Jortuniry to take correc[]ve action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 2]: (a) "Hazanlous Substances" are those substances defined as lOxic or hazardous substancès, polllllants, or waStes by EnvironmeJltal La\\ ,llld the folluwing substances: gasoline, kerosene. {J[ller t1al1lJl1able or [Oxic petroleU1l1 products, toxic pesticides and herbicides. volatile solYeJJts~ nJaterials coJltaiJJillg asbestos or formaldellyck, a1lel r,ldioaCli\'e IlJaterials: (b) "EnvironJJlental Law" means federal laws and laws oj' Llle jurisdictioJl wilere the Properrv is I(Jcaled [hat relate to health, safety or euYiro1lluemal prutectiOll; (c) "Environmental Cleanup" i1lcludes a1lY response action, remedial action, or removal auion, as cldinecl in Envirol1l1Jeutal Law: alld (cl) an "Enviro[IIIJèJJtal Condition" means a coudition that can cause. t:omribute to. or ml1envise rngger aJl EnviruJ1meJlla I Cleanup. Borrower shalluot cause or permit the presence, use, disposal. storage. or release of :IIIY Hazardous Substauces. or tllreaten to release any Hazardous Substances. on or in tile Propèrry. Borrower sh,dl nOl do. nor a]low anyone else to do, anyùlÎng aHerting dIe ProperlY (a) dl,1l is in \'iolatio1l of a1lY E1lvironJJlental Law, (h) which creates an EnvirOlunemal COllClition, or (c) which. clue [0 the presence. use. (Ir release of ,I HazardOlls Substance, creaœs a condition [hal adversely ,¡ffects LlJe value of the Propeny. Till' preceding two sentences shall not apply to tile presence. use. or storage un lIle i'mperry ()f small LJu,l1llities of Hazardous Substances that are genera]]y recog1lized to be appropriate to uOlJjJ:d residential uses ami to lllainteuJJJce of dJe Propeny (including, but not limited to, hazardous subStaJlceS in C01lsumer products). BOJTo\ver shaU promptly give Lender written notice of (a) auy investigarion. chiuL demand. lawsuit or other actioJl by any governmental or regubLOry agency or private pany invo]ving the Property ,¡nd any Hazardous Substance or EnviromnemaI Law of Wllich Borrower has actu,t! knowledge. (b) any Envin)J)]]]enta] Condilion, iucluding bur not limjted to. allY spilling. leaking. cliscbarge. re1ease (lr lhre, [ of release of any Hazardous SubstanCè, and (c) auy condition caused by the presence. use or release of a Hazardous Substance wlticl1 adversely affects lhe value of the Prupeny. If !3orrower le~lrns. or is l1milied hy any governme1llal or regulatory auù1Ority. or any private party, dl, ( any reJll(lval (lr mbc:r rell1ediarjoll of any Hazardous Subslauce atfeuing dIe Prupeny is neces,ary. Borruwer sha!1 pmmptly take all necessary remedial aclÌons in accordanCê WiÙI Envin)1ll1lenIaI Law. Nothing herein sllall create ,UIY ubligaliun 011 Lender for an EnvÏroJ]memal Cleanup, cD -6(WY) (00051 ® Page- 1:': of 15 I) ~\ r ~ . " _!' fi /~ \\(- \ I,J\I /" I '\J . II ,.{" I"''''''''_~- IV':" Form 3051 '1/01 c__ ;~t JL. ,.-, - , I' r' t'-} ,- 0', . \ ~ . . ',) t.:' , 4- NON-UNIFORJvl COVENANTS. BOITO\\'tT and Lender furùler covenam ane! agree as fo11o\lls: 12. Acceleration; Remedies. Lender shall give notice to ßono\\er prior to acceleration 1'0 II ()\\ ing Borl"Ower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Lm prO\ides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 da.\'s from the date the notice is gi\'(~n to Borl"Ower, by which the default must be cuI'ed; and (d) that failure to cure the default on or IJefore the date specified in the notice may result in acceleration of the sums seCllred by this Security Instrument and sale of the Property. The notice shall further inform BOITower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or an)' other defense of Borrower to acceleration and sale. If the default is not cUI-ed on or befOl'e the date specified in the notice, Lender at its option may require immediate payment in full of all sums secuI'ed by this Security Instrument without further demaud and may invoke the po\ver of sale and any other remedies pennitted by ApplicalJle Law. Lender shall Je entitled to collect all expenses incurred in pursuing the remedies prol'ided in this Section 12, including, but not limited to, I'easonable attorneys' fees and costs of title el'idence. ]f' Lender in vokes the power of sale, Lender shall give notice of intent to fon~close to Bornmel' and to the person in possession of the Pro pel'ty, if diffel'ent, in acconlanu· wilh A pplicalJle La \\'. Lender shall give notice of the sale to Borrower in the manner pl"Ovided in Section ]5. Lender shall publish the notice of sale, and the Property shall lJe sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The pmceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, IJllt not limited to, I'easonahle attomeys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all SLllllS secured by this Security IlIslruIllem. Lemler sl1:1I1 rdease ùÜs Security InstrUl11èlll. Borrower shal1 pay allY recordation costs. Lemler llIay charge Borrower a ke for rdeasing this Security InstnUJlelll, but only if the tà is paid [() a third parry for services rL:IJderecJ and LIle chargiJlg of LIJe !"et is permitted under Applicable Law. 2-t. \Vaivers, BO!Towèr œkasès and waivès :tlJ rights under and by virrue of lJ¡e IHiIlJeStead exemption la \vs of \\1 yoming. o -6(WY) (00051 ® Pë:ig~130f15 II ~ ),< 1/ .~' (\ /f,/ (~~ Úr- I ii/l.' ',"',"'5)( ¡ill! " Form 3051 1/01 .' , :-:. (... 'f:i _; 0""' "! \) l. ...L BY SIGNIN G BELOW, Borruwer aCL:epts aud agrees [II lilt: [erlllS and covenalllS cOlJlajnt:d ]]] l[¡is Security InstnlIuem and in any Rider executed by Burruwer amI recorded with it. W itHesses: (Seal) - Borro\\'er (Seal) -Borrowtr (Sea]) - HOJ'1'CJ\\/er C-6IWY) 100051 ® /'~) l·· --t // . ~ t.....~.......... / ~/, ... / ,.,,/.~> "--"'-T--' //:~{':~//;.:"'?/>. .' "/ L..· ....."''-< (Seali R. HICHAEL LEE ,~\?~. PATTI D. F'd;J~ '14 01 15 -r\iIITu\\'el r- /1 ì . . ~ -~, c(¿ (Se:tl) L/ -HUrrUWLl' LEE --~~- __ (Seall - HI ¡J'I'u\\'eJ (Sea]) -11ulTowcr -~--~___ ¡Seal) -H¡)1î,(1\\'el Form Ju51 1/01 :' /-, (' , "1...· r"~ ¡ .~ ~", ~ - J .' \..} \...' , _..f_ '* STATE OFWYO.MING, LINCOLN Count." ss: Thê foregoing instrumem was ackuowledgêd before me this by R. MICHAEL LEE AND PATTI D. LEE U-,i -, i;?) -.' C:":::;/ / '[/6 1\1) COlllllÚSsio]] Expires: (O(S/'J.-(..JCC¡ ..,k;~d. / f )/~ _ , ¿'G '''"-__'---_____ '\COl'lI} Public U , - . ,~",';.~' ..... ::'.". , . "-0 'J.,...... .,~.':-...,... ,. ,.' ) ¡", \,.,J'I: I' \:~ ;:".;~', - ~..... ..~\:;~"~ ~-;"';~"~;'-J ~ A t~-:;) \~;~~:~.;:~ ~ .."""> ¡,r¡/c-frJ;"r1C.J , "'o~:¡,·,,,,;:_:,·~s~ ~7:> ,~,,-...' ;_,~:':~~¿,';:;~:,.~~I;...;""-v-~'_'~~'-'~'-~ .' '~ C -6GIWY) 100051 ® F'ag¿ 15 of 15 /Î '<,...J ,/ --,-l\\ " ) ('1_)":: , . ¡[r" 1,,,,,oIL'h .>'/1/1" ,-,-'f' Form 3051 1i01