HomeMy WebLinkAbout913955
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AJkr Recording Retum To:
COUNTRYWIDE HOME LOANS, INC.
MS SV-79 DOCUMENT PROCESSING
P.O. Box 10423
Van Nuys, CA 91410-0423
Prepared By:
CATHY D. BOTTRELL
RECEIVED 11/23/2005 at 11 :03 AM
RECEIVING # 913955
BOOK: 605 PAGE: 743
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Abo\'e This Line For Rerording Data]
51203
00011843208111005
[Escrow/Closing I]
[Doc TO II]
IvIORTGAGE
MrN 1000157-0005886533-4
DEFINITIONS
\Vards used in mullipIe sections of this document arc ddïned below and other words arè derined in Sections 3,
1], 13, ] 8, 20 and 21. Cèrtain ruks regarding the usage or words used in [his document arc ¡¡Iso provided in
Scction 16.
(A) "Secnrity Instrument" means this documeI1l, \vhich is d¡¡ted J10VEI1BER 18, 2005 ,togcther
with a]] Riders to this document.
(B) "Borrower" is
FRANCI SCO HARTINEZ LOPEZ and Leticia Guzman Silva, husband and wife
. :'
¡ .
Borrowcr is the mortgagor under this Security Inslrumeut.
(C) "l\lERS" is Mortgage EJectronic Registration Systems, Inc. l'vIERS is a separate corporal ion [hal is acting
solely as a nominee for Lenckr and Lender's succesSOrs aud assigns. i\JERS is the mortgagee under this
Security Instrument. ¡\iIERS is organized and existing under Ihe Jaws of Delaware, and has au address and
telephone number of P.O. Box 2026, Flint, ¡'viI 4850] -202ó, ICI. (888) 679-IvIERS.
CD) "Lender" is
COUNTRYWIDE HOME LOANS, INC.
Lender is a CORPOR}\TION
organized aud existing under the Jaws of NEW YORK
Lender's nddress is
4500 Park Granada, Calabasas, CA 91302-1613
(E) "Note" means the promissory note signed by Borrower unci daled NOVEt1BER 18, 2005 . The
Note states that Borrower owes Lender
ONE HUNDRED FIFTY ONE THOUSAND NINE HUNDRED and 00/100
DoJlars (U.S. $ 151,900.00 ) plus inleresl. Borrower has promised 10 pay Ihis dcb! in regular
Peliodic Payments and to pay the debt in fulJ not later than DECEMBER 01, 2035
(F) "Property" means the property that is described helow under the heading "Transfer of Rights in lhe
Property. "
WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
Page 1 of 11
o -6A(WY) (0005) CHL (08/00)(d) VMP MORTGAGE f'ORMS - (800)521-7291
®
CONVIVA
Initials:
FI{f1 ,L--
FOrlll 3051 1/01
/~S.
·23991·
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(G) "Loan" means the Jebt evidenced by the Note, plus interest, allY prepaymelll cll,¡rges alld latl' ch,u'gcs
due 1IIHkr the Note, and aJl sums Jue under this Security Instrument, plus interest.
(ll) "Riders" means all Riders to this Security Instrument thaI are executed by Borrower. The fullowing
Riders are to be executeJ by Borrower [check box as applicable]:
D Adjustable Rate Rider
D Balloo11 Rider
D VA Rider
D Condominium Rider D SecLHlll HOlllc Rider
D PLlllned Unit Developmcnt Rider D 1-4 Family Rider
D Biweekly Payment Rider D Olher(s) [specify]
(I) "A pplicahle Law" means all controlling applicable federal, stall: and local st:l! Illes, reglll alions,
ordinances and administrative rules and orders (that have lhe effect of law) as wc:ll as all :Ipplil'ilblc ¡-Inal,
non-appealable judicial opinions.
(.1) "Community Association Dues, Fe('s, and Assessments" means all dues, I'ces, aSSèssmcnts and olher
ch,u-ges that are imposed on Borrower or tJle Property by a condominium association, homeuwners association
or sÍ1nilar organization,
(K) "Electronic Funds Transfer" means any transfer of funds, otJla Lhan a trans,lction originated by check,
draft, or similar paper instrument, which is initiated throngh :Ill electronic terminal, tekphonic inslrument,
compnter, or magnetic tape so as to order, instruct, or autlwrize a finam'ial instilutiun to debit or credit an
aCCOlmt. Such term includes, but is not limited to, point-or-sale transfers, automated teller n1,\cliine
transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
(L) "Escrow Items" llleans those items that are described in Section 3.
(JVl) "l\tiscellaneous Proceeds" means any compensation, settlerllent, award of damages, or proceeds paid by
any lhird party (other than insurance prucceds paid [nHler the coverages describl:d III Sectiol¡ 5) ['or: (i) damage
to, or destruction of, the Pruperty; (ii) condemnation or lither taking of all or any part of the Pmpcny; (iii)
conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as tu, the value ami/or
condition of the Property.
(N) "l\Iorlgage Insurance" mtallS insurance protecting Lemler against the nonpaYlllent 0[', or default on, the
Loan.
(0) "Periodic Payment" means the regularly scheduled amount due fur (i) principal and interL'sl under the
Note, plus (ii) any amounts Linder Section 3 of this Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 USC. Section 2601 et seq.) and its
iLllpJemenling regulation, Regulation X (24 C.P.R. Pari :,500), as lhty might be alllended from lime to time, or
any additional or successor legislation or regulaliun th;lt governs the same subject mailer. As used in this
Security Instrument, "RESPA" refers to alJ requirements and restrictions that arc imposed in regard to a
"federaJly related mortgage loan" even if the Loan does not qualify as a "i'ederally related mortg:ige loan"
under RESPA.
(Q) "Successor in Intel'Cst of Borrower" means any party lhat has takentilk to the Property, whether or not
that party has assumeJ Borrower's obligations under the Note and/or this Security Instrument.
TRANSFER OF RIGHTS IN THE PIWPERTY
This Security Instrulllent SeCures to Lender: (i) (lie repayment of the Loan, anJ all renell'als, extensiolls and
modificalions of the Note; and (ii) the performann: of Borrower's covenants and agreements lIilder this
Security Instrument and the Note. For this purpose, Borroll'er does hereby mortgage, gr,llll and convey to
t-ilERS (solely as nominee fur Lemler and Lender's snccessors and assigns) and to the sllccessors and ,lssigns
of tvlERS, with power of sale, the following described property located in the
COUNTY of LINCOLN
[Type or Recording JurisdictionJ
[N;lIlIe or Rccordillg Jurisdiction
LOT 7, PALlS PARK SUBDIVISION, ACCORDING TO THE OFFICIAL PLAT THEREOF,
BEING PART OF THE N 1/2 SE 1/4 AND SW 1/4 NE 1/4 OF SECTION 29, T 37 N,
R1l8W, 6TH P. ¡V¡., WYOMING.
ParcelIDNlIInher: 37182940600500 wliicli currently Ii:\s tlie :ldill"CSS lIf
167 PARKWAY DRIVE, ALPINE
[Street/City]
Wyoming
83128
[Zip Code]
("Property Addrcss"):
Q -6A(WY) (0005)
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CHL (08/00)
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" K"i\Â.G·
Inilials:"~
-.,¡ Form 3051 1/01
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TOe ETHER W lTH all lht iil1[ìruvcJi1tnts nul'.' or htre:~ICkr CI'(:l'kd un tht pro[ìl'il)', ~Irld ~d I C<lSL IlIL'IIlS,
appurlèllalll'es, ~Ind ~xlurês lIlIll' ur hêrearkr a pari ur tht prujJelly, AI] repla,'elllL:III'ò ~III¡ ~ldditicJIIs "h;1I1 ~dso
he l'()ú'rtd by this Security Instnlmè:nl. :\lJ lIC lht CUI'(:guillg is rtkcrtd 10 ill II Ii, Stcllrity III"IIIIIIIL'III ~IS Ilrë
"Proptny," BOrrOll'ër umkrstands and agrtcs thai (vIERS holds oldy legal lillc' 10 ¡Ire illtc,'t:slS ~r<llllL'd by
Borrowër in tlris SeL'llrily Instrument, but, if necessary to l'ull1ply wlllr bw or l'IISlurn, [vi I"!"(S (~IS 110lllillCè l'or
Lender and Lc:mlds succtssors and assigns) has tht right: to eXêrcise any or ;ill or thosc illleJ\:sts, illLludillg,
hut not limited to, the right to foreclose. and sell the Prupe,lly; ;lno 10 lake an)' ~IClitlll r,qllired or l..l·rlller
including, but not limiln! to, rdeasing and (,~III('cliilg this SccurilY Instrument.
BORROWER COVENANTS Ulat BOlÏoll'er is Jawful1y ,';2lsed or [he es[ak Ilèrè:by conveyed ~lIid lias lhe
righl 10 mortgage, graIlt allll cOIlvey the Pro]ìe-rly ~tlie! Ihat thè Prupl:rty is uIleIIL'ulllbe,rl:d, tXl't:pt for
encnmbraIlces of recunl. BOHuwer I'/Mrallls ;tIll! will e!d','11l1 gèIlentlly the [ilk 10 Illc PrupcTty ag:linst ~¡ I
claims and demands, sllbiect 10 any elll'umbLIIlces uf recurd,
THIS SECURITY INST1~UìvLENT cOll)billl:s ulliform cuvenaIlts for national IISè ~IIld rIOIl-ullii'l)nn
l'uvtnants with limited variatiolls by jurisdictioIl lO CUIISlillltt ~I uniform securily iIlstrumel1l cuvenllg rt~¡]
property.
"lINIFORi'v! COVENANTS, Borrowtr ~1I)d Lend,,'r coven~lnt and agree, :IS follows:
L PaYJIlent of Principal, Interest, Escrow l!l'Jl1S, l'rep,¡yml'llt Ct¡,lrges, ,IIHI Late C ¡~lrgl's. 1''¡Jij"uwL;r
shall pay wlleIl due lht principal lIr, alld illlerest on, thè debl evidc'11I'èe! by lilt NII[t :111e! :IIlY prtp~IYlner1t
chm'ges and late charges dne umltr tht Note, 130rrol\u';h~¡]1 also pay fllmls fur 12SLTUW IlC:ms pursuallt to
Sectioll 3, Payments due under the Note and tllis Stcmit)' Instnllntnt shall be m,llk 111 U.S. l'lilî·ency.
However, if any elll:ck or other instrunlent received by LelHJe:r as paymènt nnder [he NUlc' Ilr this SeclI!'jty
Instrument is rtl11rned to Lemler unpaid, Lêfllltr may ¡cquirc: Ihal allY or all snbsè'qlleIlt P,¡Yllkllls due under
the Note ane!lhis Secnrily TnstrumL'nt bL' m~lde in Ollt ur more or the fullowing rurms, as selected by LL'llde¡:
(a) cash; (b) munty orde:r; (c) certified check, haIlk chtek, lreasurer's l'heck or [,¡Ishier's clltck, providtd allY
snch check is drawn upon an illstilutiun whose- deposits are- illSllrè:d by a klkr~tI agency, iIlslrnmc"lil;¡]ity, ur
elltily; or (d) Electronic Funds Transfer.
PaymcllIs ~U'c: de(;mc:d rtceivecl by Lender wlltl1 rtL'Civtd ~Itthe ]ocation dtsigl1<lkd ill 1:lt Nute or at such
olher locatiun as may be designated by Lellder ill ;IL'l'l\rd:llll'(: with the- nOlice provisiolls ill Sn'lilln ]), TXllller
may n:turJI any payrnenl ur panial payment if the paymellt or partia] p,lYlntnls ~Ire- insufficiellt 10 hring lhe
Loan current. Lende-r rnay accept any paynlent or panial paymenl irlsullil'ièll[ 10 hring tilt Loan CUII"tIlI,
withuut waive-I' of any righls herenllder or prejndice- 10 ils riglll'; to refuse sllch paYllkll1 or parli~iI paymc'lll'; in
the fUlure:, but Ltilder is not obligattd 10 apply SllCh p:lynh'lll.'i allllè time- such paymc"llts are- ~Il'Leplèd, II" è:1Ch
Periodic paymè:nl is applied as of its sL'heduJcd dœ daIL', Ihc'll L.ender need nol pay inlere,';l 011 lliwpplied
funds, Lemkr JIIay hold snch nnapplied runds l"llil ßUHuwer 111~lke,'i p:IYlnenl tLi h!ing Ihe [(¡,In curreri!. If
Borrowe-r does Ilul do so within a reasonable period of lime, Ltndèr shall eilller apply sUl'll l'tlllds ur relllrn
them 10 Burrower. [I' not applied earlier, Sl1L']¡ fllnds will be applie-d to the outstandillg prilil'ip;¡] balance \llider
the Nule immediak!v prior to foreclosure, No ofrset or claim which Borrower might 11,11'e- now IJr in the ftlture
againsl Lellder sllall rtliel'e BO]'J"o\','èr frurn making payment:; due under [he Nute a!\llthis Security Tl1stnlllicllt
or pèrformillg the cOVl"IIants and agreemtllts secured by this Secmily IlIstrumen!.
2. ApplicatioJl uf P,lyments ur PnH.:t'l'c1s. Except ,IS othe.l\\'isl': lltscrihed in lhis Stcliol} 2, ~¡]I paYlllenls
accepted and applied by Lellckr sh,dl he- ;lpplieLi in tlk IlJllowing order of priurily: (a) illtere,::[ dUè' [lIlder the
NOle; (b) principal dne \Imler tht NOle; (c) amoullts dlle ullller Sectioll 3, SlIch paymc:nts sll;dl I)t': ;Ipplied 10
each Periodil: Payment in ¡he order in wlliLh it beeline- dlle. Any rc:m~lining al1](IIIIII:; shall be ;Ipplied rll'st to
late charges, se-cnnd tu any otllèr a[)JulInts duc ulllkr tllis Securir)'lllslrumcnl, and 111(:11 [0 redllce lht': pl-inl'ipal
ba]ance uf till: Note,
T!' Lender receives a paymc'Ill from Borrower fOf a Iklinlju,:nl Pé:riodic Paymenl which illchldcs a
sn[fjcje-Jlt allluuntlo pay any lalt charge due, Ihe paYlJ)e;nlmay be ,t Jpliul 10 1112 IltlinC¡llell[ p:\YI11cnt ~Ind lhe
late chmgL;, IC more than olle Pe-riodic P~IYlllcrH is oulslandillg, Ltnlkr may apply ;111)' P;¡Ylllerll I',:cl:ivcd I'rom
Borrol\'er to the re-paymellt of the- Periodic Payments if, ~\nd tu the t':\lèlll I!i:il, ('ae'h p;lymellt c;ln 11\' >~Iid ill
1'1111. To (he extènt that ~Il1Y excess exisls aCier the payment is :Ipplied to Illè rid! payment or unt 01' lIIorc
Periodic Payments, sllch neess mHY be applied 10 allY Lllc ch;ìrges dllt.:, Vululllar)' prcp~IYIIIl:IIIS sll:11I he
applied first to any prepayment charges and then as desclibed inlhè NOle.
¡"In)' application of payments, illsurance proceeds, or Mi';CI'I1:lIlc:OUS ¡-'I'¡)Lecds 10 p¡"illl'lp~d dlle IIIHler {he
Nule sl1allllul ex lend or postpone tlk dlle date, ur cll<lngè lilt: ,'llltHIIII, ullhi.: Puiudic Pa)'lIlc;nls.
3, FlInds for ESlTOII' Hems. Borruwcr sh~¡\1 pay to Li.:I\l12r on llrt day PcTilldil' P~I)'lnl:nls arc dllt' 1llldt':r
the Note-, until the: Nule is paid in rull, a Sllln (the "Fllllds") to >!"Ovidê: 1'01' paY,l1l,11 ur ;1I11iJUIIIS dtle ¡'ur: (:¡')
taxes <Ind assessmenls and olher itc:ms wbidl ('¡In attain priority uI'cr lhi,; Secmily [l1s1lÏllIIL':lIt as a liell IH'
è'nclnllhrance- on tht': Properly; (b) Ie<lsehold paymenls or gro1l1ll1 rents on Iht ProPCrlY, if <IllY; (l') 1I'1:l1IiIIlIIS
for any ~lIld <II] illsurallcè rcC uirèd by Ie.lltler ulHkr Sel'I;I)n 5; ~lIld (d) IVlmlgagc Insur;lllce prl'milllils, if ~lII)', or
any SIlins payahk by Btì!Ï"l)Wèf [() Lellller in lieu ul' Iht pHyml'll ul'l\'lortg~lg" TII:;III';\lll'c' prellliums in
aCL'Ord;lllce wit Ii till: provisions or SectiuII 1o, Tllese iklllS are calkd "1::sLTUW [killS," ,c\1 urigil}~llilil\ III" ~tl ~IIIY
time dllrillg tlte teml or the Loall, L,,:nder may reqllill' lli,11 COIlII11l1l1iIY AssI)['i~tl (ill Dllt:S, r:l'C'S, ~¡n:1
Assessments, ir any, be: "scrowed hy Borrowtr, ~lIid :;il,,1r dileS, kes ;llId ,lssC:'sS!neIIIS slr;111 he: ~tll r~scruw Ilè:m.
BorrowCf shall prumplly furnislr 10 LèIlder ~dlllutiL'C:S of aI1HJllllts 10 be paid 1IIIdèr [lri') Seetiu!I, BIIIJ\llI'l"l,;Ir;dl
pay Lender Ihe FUllds rnr Escruw Itèms uilleSS Lender 1\'~li'.'es Born)\\'èr'.s ublig~llll)iI tu pay lilt, ¡:11I1l1:; ror ~IIIY
or a]] ESLTOW Tlc:ms, Lelllkr may waive Borrower's ()h]ig~llion lU pay lu Lc:lldèr fllllds ror ;ill)' ur ~\l1 E,,,'!"ow
l"itic,I, n¡~Vll~ .
¡-urln 3051 1/01
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Items at any lime. Any such waiver may only be in writing, In the event of such waiver, Borrower shal1 pay
directly, when and where payable, the amounts due for any Escrow Items for whidl payment of funds has
been waived by Lender and, if Lender requires, sllall fUll1ish to Lender receipts evidencing such payment
within such time period as Lender may require. Borrower's obligation to make slllll payments alld [I) pru\ide
receipts shall for all purposes be deemed to be a covenant and agreement contained in this Sècurity
Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is libligatúl to pay
Escrow Itèms directly, pursuant to a waiver, and Borrower fails to pay Ihc amount due fOl' :\11 Escrow Ittm,
Lender may exercise its rights under Section 9 and pay such amOlln! :llId BO!Tuwer shall then be obligated
under Section 9 to repay to Lender any such amount. Lender may rc:volœ the wail'er as tu any or all Escrow
Items at any time by a notice given in accordance with Section 15 amI, upon such revocation, Borrower shall
pay to Lender all Funds, and in such :lmOllIlts, that are then rèquired under this Section 3.
Lender may, al any time, collect and hold Funds in an :lmount (a) sufficient to permit Lemler to apply the
Funds at the time specified under RESP A, and (b) not to exceed the maximum amount a Jèmler c:ln rèquire
under RESP A. Lendèr shall estimate the amount of FUllds due on thè basis of current data and reasonable
eslÎmatès of expënditures of fmure Esnow Items or othèrwise in accordance with Applicahk Law.
The Funds shall be held in an institution whose deposits are insured by a federal agency, instnlmelltality,
or entity (including Lender, if Lemler is an institlllion whose lkposits are so insured) or in any Federal Home
Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time spëeified under
RESPA, Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow
accoullt, or verifying tht ESl'foW Items, unless Lënder pays Borrower interest 011 (he Funds and Applicable
Law permits Lender to make such a charge, Unless an agreement is made in writing or Applicable Law
œquires interest to be paid on thc Funds, Lender shall not be required to pay Borrower any interest or eall1ings
on the Funds, Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds.
Lender shall give to Borrower, without charge, an annua] accounting of the Funds as required by RESP A.
If there is a sUlVlus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower
for the excess funds in accordance with RESPA. If there is a shortagë of Funds held in escrow, as del'jned
under RESPA, Lender shall notify Borrower as œquired by RESPA, and Borrower sh:ill pay to Lcnder the
amuunt necessary to make up the shortage in accord:nlCè with RESPA, but ill no more tll<ln ]'2 monthly
payments. If thëœ is a dcficiëncy of Funds held in escrow, as defined under FŒSP A, Lcmler shall notify
Borrower as rtquired by RESP A, and Borrower shall pay to Lender the amount necessary to make up the
deficiency in accordance with RESPA, bul in no more than 12 monthly paymeuts.
Upon payment in full of all sums sècured by this Security Instrument, Lènder shall promptly refulld to
Borrower any Funds heJd by Lender.
4. Charges; Liens, Borrower shaH pay all taxes, aSSèssments, chargès, fines, and impositions atlributable
to the Property which can atlain priority OV(;f this Security Instrument, leasëhold paymcnts or groulld rents on
the Property, if any, and Community Association Dues, Fees, and A:;sessments, if' :Iny. To [he extent that these
items are Escrow Items, Borrower shall pay thëm in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Iilslrument unless
Borrower: (a) agreës in writing to the payment of the obligation secured by the licn in a manner acceptabk to
Lender, but only so Jong as Borrower is performing such agrècmènl; (b) contests the lien in good raith by, or
defends against enforcement of the lien in, !egal proceedings which in Lender's opinion operate tu prevent the
enforcement of the lien while those proceedings me pending, but only until such proceedings are concluded;
or (c) secures from the holder of the lien an agreemënt satisfactory to Lender subordinating the lièn to this
Security Tllstrument. If Lender detuj]Jines that any part of the Property is subject 10 a lien which can :¡(lain
priority UVèr this Security Instrument, Lender may give Borrower a notice identifying the licn. Within ]0 days
of the date on which that notice is given, Borrower shall satisfy the ]ien or take onë or j]Jore of the actions set
forth above in Ihis Section 4.
Lender may require Borrower to pay a one-timë charge for a real estate tax vërificatir)(} and/or reporting
sèrvice used by Lender in connection with this Loan.
S, Property Insnrance. Borrower shaH keep the improvements now existing or hereaCter erected on the
Property insured against loss by fire, hazards included within the tc-.n11 "extended covc-.rage," ,llll! :\111' other
hazards including, but not limited [0, earthqllalœs and floods, for which Lender requires in<;ur:\I1ce. This
insurance shall be maintained in the amounts (including dèductible levels) and for the periods that Lender
requires. What Lender requires pursuant to the precëding sentences can change during the term or the Loan.
The insurance carrier providing the insurance shan be ehoscll by Borrower subject to Lender's right to
disapprove Burrower's choice, which right shaH not be exercised unreasonably. Lender may require Borrower
to pay, in connection with this Loan, either: (a) a one-time charge fur flood zonc detem1ination, cCl"tilicalion
and tracking services; or (b) a one-time charge for flood zone determination and ccrlifïc;¡lion services and
subsequent charges each time remappings or simi]ar changes occur which reasonably might alTect such
cletërmination or certification. Borrower shall also be responsibJe for the payment of :my fees imposed by the
Fëderal Emergency Managëment Agency in connection with the review or :my J1uod zone dctermination
resuJting 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 obJigation to pmchase any particular
type or amount of coverage. Therefore, such coverage shall cover Lemler, but might or might not protëct
Borrower, Borrower's equity in thë Property, or the contenls of lhe Property, against any risk, hazard
~ -6A(WY) (0005)
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CHL (08/00)
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InitiaIS:~.
Forfi13051 1/01
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DOC 1D #: 00011843208111005
or liability and might provide greater or ksser coverage than was previously in effect. Borrower ad:.nowledges
that lhe cost of tile insurance coverage so obtained might significantly exceed the cost of insurance that
Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 sha1! becomè additional
dèbt of Borrower secured by this SeCl:rity !ustrurnent. lli<:st amounts shall bèar interest at lhe Nute rale from
the date of disbmsement and shall be payable, with such inlnc;l, UpOl1 notice rrom LC:JIlkr tu BorrOWèr
requesting payrnenl.
AJI insuraJlCè policies required by Lender and renewals or sllch policiès shall be subject lU Leudc:r's righl
to disapprove such policies, shall include a standard mortgage c1ause, and shall name Lemkr as mortgagee
and/or as an additional loss payee, Lender sha1! have the right to hold the policies and reuewal ct:nificates, If
Lenckr requires, Borrower sh;,11 promptly give to Lender all receipts of paid premiums and renewalllutices, If
Borrower obtains any form of insurance coverage, nOI othtrwise required by Lender, for damage to, or
destruction of, the Properly, such policy shall include a stand,u'd mortgage clause amI shall name Lender as
mortgagee and/or as an additional loss payee.
In the tvcnt of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
applied to restoration or œpair of the Property, if the restoration or repair is ecullulllicaJly i"casible :\nd
Lender's security is not lesseued, During such repair and restoration period, Lemler shaJllwve llle right to hold
such insurance proceeds until Lender has had an opporlllnity to inspect such Propc:rty to ensure the work has
beell comp]eted to Lender's satisfaction, provided that such inspection shall be undertakell promptJy. Lender
may disburse proceeds for the repairs and resloration in a single payment or in a series of progress payments
as the work is comple!ed. Unless an agre(:ment is made in writing or Applicable Law rèC]uires inlc;rest to be
paid on such insurance proceeds, Lemler shall nut be required to pay Borrower any interest or earnings on
such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not he paid out of
the insurance proceeds and shall be the sole ob1igation of Borrower. If the restoration or repair is not
economically feasible or Lender's security would be ]essened, the insurance proceeds shall be applied to the
slnns secured by this Security Instnlllìent, whether or nut then due, with the excess, if any, paid to Bonower.
Snch insmance proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Pruperty, Lender may flle, negotiate and settle any available insurance claim
and re]ated matters, If Borrower does nol respond within 30 days to a notice from Lender th,¡t tllC insurance
carrier has offered to settle a claim, then Lender may negoliate and settle the claim. The 30-day period wil]
begin when the notice is given. In either event, or if LemlCl :Icquires the Property under Section 22 or
othtrwise, Borrower hereby assigns to Lender (a) Born '\I'cr's rights tu any insurance proceeds in an amount
nut to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any olllcr of Borruwer's
rights (other than the right to any refund of une~U"lled premiums paid by Borrower) umler all insurance policies
covering the Property, insofar as such rights are applicable to the cuverage uf the Property. Lender may use
the insurance proceeds either to repair or restore the Property or to pay amounlsunpaid under the Note or this
Security Instrument, whether or not thtn due.
6. On:up'lIlcy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instrument and shal1 continne to occupy lhe Property as
Borrower's principal residence for at least one year after the date uf uccupancy, unless Lender otherwise
agrees in writing, which consent shaJInot be unreasonably withheld, or unless extenuating circumstances exist
which are beyond Borrower's control.
7, Prcscrvation, .rvraintenance and Protec{ioll o!' {he Property; Jnspee(Íons. Borrower s¡¡;Il] not
destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Pmperty.
WhethtT or not Borrower is residing in the Property, Borrower shan maintain the Properly in order tu prevent
the Property from deteriorating or decreasing in value due to its condition, Unless it is determined purSU:Ult to
Section 5 that repair or restoration is not econumieally feasible, Borrower shall promptly repair the Pmperty if
damaged to avoid further deterioration or damage. If insl1rance or condemnation proceeds art: paid in
connection with damage to, or the taking of, lhe Property, Borrower sha]] be responsible for repairing or
restoring the Property only if Lender has released proceeds for such purposes, Lemler may disburse proceeds
for the repairs and restoration in a single payment or in a series 01' progress payments as the work is
completed, If the insurance or condemnation proceeds are not sufficient to repair or reslOre the Property,
Borrower is not relieved of Borrower's obligation for the completion of such repair or restoralion,
Lender or its agent may make reaslHlable entries upon and inspections of the Property, II' il has
reasonable cause, Lender may inspect the interior uf the improvements on the Property. Lellder shall give
Borrower notice at the time of or priur to such an interiur inspectiun ::pecifying such reasolwhle cause.
S, Borrowcr's Loan Application, Borrower shall be in del';udt iI', during the Loan application process,
Borrower or any persons or entities aCling at the direction or Borrower or with Borrower's knowJed"e or
to
consent gave materially false, misreading, or inaccurate informatioIl or statements to r .ender (or failed to
provide Lender with material information) in connection with the Loan. TvTaterial representations include, but
are not limited to, represent,dions concerning Borrower's occup,mcy of the Property as Borrower's principal
residence.
C -6A(WY) (0005)
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CHL (08/00)
Page 5 of 11
Inilials:f~'
Form 3051 1/01
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DOC 1D #: 00011843208111005
9. Protedion of Lender's Interest in thc Property and Hights Under this Sl'curity Instrument. II' (a)
Borrower fails to perform the covenants and agreements contained in this SCL'urity Instrument, (b) there is a
Jegal proceeding that might significantly aflect Lender's interest in the Property and/or rights under this
Security Instrument (SllCh as a proceeding in bankruptcy, probate, for cOlldemn~tliun or forfeiture, for
enforcement of a ]jen which may attain priority O\'er this Security Instrument or to enforce laws or
regulations), or (c) Borrower has abandoned the Properly, then Lemler Inay do and pay for whatever is
reasonable or appropriate to protect Lender's interest in the Property and rights under this Security lnstrument,
including protecting and/or assessing the vaIue of the Property, and securing and/or repairing the Properly.
Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority
over this Security Instrument; (b) appearing in conrt; and (c) paying reasonab1e allOlllèYs' fèès to protect its
illterest in the Proputy and/or rights under this Security Instrument, including its sècured position in a
bankruptcy proceeding. Secwing the Property includes, but is not limited to, enlering the Property to make
repairs, change locks, replace or bomd np doors and windows, drain water from pipes, eliminate buiJding or
other code violations or dangerous conditions, and have utilities tumed on or off. Alllwugh Lemler may take
action under this Section 9, Lender does not have to do so and is notnnder any duty or obligation to do so, It
is agreed that Lender incurs no Jiability for not taking any or al1 actions authorizedllnder this SeClion 9.
Any amounts disbursed by Lender under this Section 9 shall become: additioll,¡J debt of BorrowCJ' secured
by this Security Instrument. Thl'se amounts shaD bear interest at the Note rate from rhe date of dishursèment
and shan be payable, with such intèreS(, upon notice from Lender to Borrower requesting payment.
If this Security Instrument is on a leasehold, Borrower shall comply with an the pmvisions of the !case.
If Borrower acquires fee titk to the Property, the lcasdlOld and the fee title shan not merge unlessU'llder
agrees to the merger in writing.
10, Mortgage Insurance, If Lender required Mortgage Insurance as a condition of making the Loan,
Borrower shall pay the premiums required to maintain the tv10rtgage Insurance in effect, If, for any reason, the
tv10rtgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
previously provided such insurance and Borrower W~\S required to make separately designated payments
tow~U"l1 the premiums for Mortgage Insurance, Borrower shan pay the premiums required to obtain coverage
substantiaJ]y equivalent to the l'vlurtgage Insurance previously in effect, at a cost snbstantially l~quivalenl to the
cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selècted
by Lender. If substantially equivalent Mortgage Insurance coverage is nol available, Borrower sll~¡JI l'onlinue
to pay to Lender the amount of the separately designated payments that were due when the insurance coverage
ceased to be in effect. Lender will accept, use and retain these payments as a non-refundabJe loss reserve in
lieu of Mortgage Insurance. Such loss reserve shaJl be non-refundable, notwithstanding the fact thM the Loan
is ultimately paid in full, and Lender shal1 not be rCljllired to pay Borrower any interest or earnings on such
loss reserve, Lender can no longer require loss reserve payments if tv10rtgage Insurance coverage (in the
amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes
availabJe, is obtained, and Lender requires separately designated payments toward [he premiums fur Mortgage
Insurance. If Lemler required Mortgage Insurance as a condition of making the Loan and Borrower was
required to make separately designated payments toward the premiums for I'vlortgage Insurance, Borrowèr
shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-rcrundable loss
reserve, unti] Lender's requirement for 1\10rtgage Insurance ends in accordance wilh :Iny written agreement
between Borrower and Lender providing for such termination or untiI termination is required by Applicable
Law. Nothing in this Section 10 affects Borrower's obligation to pay interest althe cite provided illlhe Note.
Mortgage Insurance reimburses Lender (or any entity that purchases Ihe Note) for certain losses it may
incur if Borrower does not repay the Loan as agreed, Borrower is not a party to the !'vlortgage Insurance,
l'vlortgage insnrers eva]uate their total risk on all such insurance in force from time to lime, and may enter
into agreements with olher p~U"ties that share or modify their risk, or reduce losses, These agrcernents are on
terms and conditions that me satisfactory to the mortgage insurer and the other party (or parties) to Ihese
agreements. These agreements may require the mortgage insurer to make payments using any source of funds
that the mortgage insurer may have available (which may include funds obtained from tvlorlg:ige Insmance
premiums).
As a resu]¡ of these agreements, Lender, any purchaser of the Note, ;lI1other insl1rer, :iny reinsurer, :IIIY
other entity, or any affiJiale of any of the ('oregoing, may receive (directly or indirectly) aillounls Ih;lt derive
from (or might be characterized as) a portion of Borrower's payments for Mortgagè Insurance, in exclwnge ('or
sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement pruvJ(les [hat an
affiliate of Lender takes a share of Ihe insurer's risk in exchange for a share of the premiums paid 10 the
insurer, the arrangement is often termed "captive reinsurance." Furlher:
(a) An)' such agrecJllcnts will not afTect the amounts that Borrowcr has agreed to pay for :!\Iorlgage
Insurance, or any other terms of the Loan. Such agreements will not increase the aJllount Borrower will
owe for IVlodgage Insurance, and thcy will not entWe Borrower to any refund.
Initials:
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<a -6A(WY) (DOD5)
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CHL (08/00)
Page 6 of 11
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DOC ID #: 00011843208111005
(b) Any slIch agreements will not affect the rights Borrower has - if any - with respect to the
l\Iortgage Insurance under the Homeowners Prolcdion Ad or 1995 or any other I<lw. These rights may
include the right to receive certain disclosures, to request and ohtain l'ancdlation of the l\Iortgage
Insllrance, to have the l\Iortgage Insurance terminated automatically, allll/or to receive n refund or any
Mortgage Insunll1ce premiums that were unearued at the time of such cancellation or termination.
11. Assignment of Miscellaneous Pruceeds; Forfeiture. All tvJiscellanculls Proceeds are hereby
assigneu to ami skill be paiu to Lenuer.
If the ProperlY is damageu, such 1\1isceJ1aueous Proceeds shall be applieu to resturation or repair of the
Property, if the restoration or repair is economically feasible anu Lemler's security is not lessened, During such
repair and restoration periou, Lender shall have the right to hold sllch [vliscellancolls Proceeds lIlltil Lender has
had an opportunity to inspect such Property to ensure the work has been compkted to Lender's satisfaction,
provided that such inspection shall be undertaken promptly. Lender Illay pay for the repairs and restor~lti()n in
a single disbursement or in a series of progress payments as the work is completed. Unkss an agreement is
made in writing or Applicable Law requires interest to be paid on such tvrisceJ1ancous Proceeds, Lemkr shall
not be required to pay Borrower any interest or earnings on such Misce!Janeolls Proceeds. If the restoration or
repair is not economically feasible or Lender's security wuuld be lessened, the tvliscè!]aneous Proceeds shall
be applieu to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
paid to Borrower. Such l'v!iscellaneous Proceeds shall be <Ipplied in the urder provided for in Section 2.
In the event of a total tnking, destruction, or Juss in value of the ProperlY, the l'vriscellaneous IJ (\cel'ds
shaH be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
any, paid to Borrower.
In the event of a partial taking, destruction, or Joss in value of the Property in which the fair llJ<\rketvalue
of the Property immediately before the partial taking, destruction, or luss in value is equal to ur gn::aler than
the amount of the stuns secured by this Security Instrument immediately be['ore [he partial taking, destruction,
or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
Instrument shall be rc:duced by the amount of the j\liscellaneous Proceeds multiplied by the ['ollowing fmction:
(a) the total aIlJount of the sums secured immediately before the partial taking, destruction, or loss in value
divided by (b) the fair mmket value of the Property immediately before the partial taking, destruction, or loss
in value. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
of tIle Property immediately before the partial taking, destruction, or loss in value is less than the amuunt 0['
the SUillS secured immediately before the partial taking, dè:struction, or loss in v~¡ ue, unless Borruwer ami
Lender otherwise agree in writing, the :Miscellancous Proceeds shall be applied to the sums secured by this
Security Instrument whether or not the sums are then due.
l[ the Property is abanuoned by Borrower, or it, after notice by Lender to Borrower that thL" Opposing
Party (as clefineu in the next sentence) offers to make an awarcllo seltle a claim for damages, Borrower ['ails lO
respond lO Lender within 30 days after the date the notice is given, Lender is authorized 10 colket and apply
the tvrisceJlaneous Proceeds either to restoration or repair of ¡he Property or to the sums sè:cur\~d by this
Security Instrument, whether or not then due, "Opposing Party" means the lhird party that owes Burrower
Miscellaneous Proceeds or the pmty against whom Borrower has a right or al'lion in regard to rvrisccJJaneous
Proceeds.
Borrower shall be in default if any action or proceeding, whetl1er civil or criminal, is begun that, in
Lender's judgment, could resuJt in forfeiture of the Properly or olher material impairment ur Lender's interest
in the Property or rights under this Secldity Instrument. Borrower ean cure such a default and, if ~lcccleration
has occurred, reinstate as provided in SeclÌun 19, by causing the aclÌon or proceeding to be dismissed with a
ruling that, in Lenuer's judgment, precluues forfeiture of the Property or other material impairment of Lenucr's
inlercst in the Properly or rights under this Security Instrument. The proceeds of any aW~\I"(1 or claim for
damages Ihat [u'e attributable to the impairment of Lender's interest in lilt Property are herè:hy :Issigned and
shall be paid to Lender.
All Misce]]aneolls Proceeds that are not applicd to restoration or repair of the Properly shaIJ 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 amorlÌzation of tht sums secured by this Security Instrument gr~lllled by Lè:llder to
Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower 01" any
Successors in Interest of Borrower. Lènder shall not be required to commence proceedings against any
Successor in Interest of Borrower or to refuse to extend time for payment or olherwise modil'y ~lmOrlil~¡tion of
the SUlllS secured by this Se,l'urilY Inslll1ment by reason of any demand made by the original Borrower or ¡¡ny
Successors in Interest of Borrower. AllY forbearance by Lender in exercising any right or reruedy including,
without limitation, Lender's acceptance of payments frum third persons, entities or Successors in Interest of
Borrower or in amounts less than the amount then due, shalT not be a waiver of or preclude the eXè:rcise 01' any
right or remedy.
13, Joint and Several Liability; Co-signer,,; Successors and Assigns Bound, Borrower covenants and
agrees that Borrower's obligatiuns amI liability sha]] be joint ailll several. However, any Borrower who
co-signs this Security Instrument but docs not execute the Note (a "co-signer"): (a) is co-signing this Security
C -6A(WY) (0005)
®
CHL (DB/DO)
P dge 7 of 11
Illiti~ls:1M.L .
For1ll30511/01
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Instrument only to mortgage, grant and convey the co-signer's intercst in the Properly ulllkr tllC terms of this
Security Instrument; (b) is not personally obligated to pay the SUIllS secured by this Security InstJ"lll11cnt; and
(c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any
accoIllllludatioIls with regard to the terms of this Security [lIstrument or thc Note without the co-sÎgllcr's
consent.
Subject to the provisions of Section 18, any Successor in Interest of Borl'ower who :ISSlIll1eS Borrower's
obligations unckr this Security Instrument in writing, and is approved by Lender, shall obtain all ul' Borrmvcr's
rights and benefits under this Security Instrument. Borrower shal1 not be released from Borruwe/s ubligations
and liability under this Security InstrumtIlt unless Lender agrees to such relcase in wliting. The covenallls and
agreements of this Security Instnlment shal1 bind (except as provided in Section 20) and benditthe successors
and assigns of Lender.
14. Loan Charges. Lender may charge Borrower fcts for services performed in connection with
Borrower's default, for the purpose of protecting Lcnder's intertst in the Properly aud rights 11IIder this
Security Instrument, including, bur nor limited to, attorneys' fees, property inspection and valuation fces. In
regard to any orher fees, the absence of express authority in this Security Instrument to charge a specific fee to
Borrower sllall not be construed as a prohibition on the charging of such fee. Lcuder may not charge fees thar
are expressly prohibited by this Security Instrument or by Applicahk Law.
If the Loan is subject to a law which sets maximum loan charges, ami that law is finally interpreted so
that the interest or othtr loan charges col1ected or to be collected in connection with the LO:\I1 cxcced the
pem1itred limits, then: (a) any such loan ch¡U"ge shaJJ he reduced by tlie alnonnl necesS:lry to reduce tlie L'liarge
to the permitted limit; and (b) any SUlns already colkcted from Borrower which exceeded pamillèd limits wiJJ
be refunded to Borrower. Lender may choose to make this refund by redl1cing the principal ow(:d nllller the
Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as
a partial prepayment without any prepayment charge (whether or not a prepayment clt:\rge lS provided for
under the Note), Borrower's acceptance of any such refund ¡llade by direct payment to Bor1"Owtr will
constitute a waiver of any right of action Borrower might have mising out of such overcharge.
15. Notices. Al1 notices given by Borrower or Lender in connection with this Security Illstrnment must
be in writing. Any notice to Borrower in connection with this Security Instrument shall be dccmed to have
been given to Borrower when mailed by first class mail or when actually deli vered to Borrower's notice
address if sent by other means. Notice to anyone Borruwer shaH constitute notice to all Borruwers unless
AppJicab]e Law expressly requires otherwise. The notice address shall be' thl' Properly Address unless
Borrower has designated a substitute notice address by notice to Lender. Borrower shall prlJlnptly nOlify
Lender of Borrower's change of address, If Lender specifies a procedure for rèpLJrling Borrower's ch:\I1ge of
address, then Borrower ~hall only report a change of address through that specified procedure. There Inaybe
only one designated notice address under this Security Instnllnent at anyone time. Any notice to Lender shall
be given by delivering it or by mailing it by first class mail to Lender's address stated herein unkss Lender has
designated another address by notice to Borrower. Any notice in connection with this Sècurity Instrument
shan not be deemed to have been given to Lender until actuaHy received by Lender. If any notice required by
this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy
the corresponding requirement under this Security Instrument.
16. Governing Law; Severability; Rules of Construction, This Security Instl1lment shall be govel1led
by federal Jaw and the Jaw of the jurisdiction in which the Property is locatêll. All rights and obligations
contained in this Security Instrument are subjecl to any requirements and limitatiuns of Applicable Law.
AppJicable Law might explicitly or implicitJy anow the parties to agree hy contr:lct or it might be silent, bllt
sl1ch silence shalJ not be construed as a pruhibition against agreement by contract. In the event that any
provision or clause of this Security Instrument or the Note conflicts with Applicable Law, Sl1ch conflict sll:dl
not affect other provisions of this Security Instrument or the Note which can be given effect wilhout the
confJicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean am! illclude
corresponding neule:r words or words of the feminine gender; (b) words in the singular shaH mean and include
the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation 10 take any
action.
17. Borrower's Copy, Borrower sha]] be given one copy of the Note and of this Security Instrument.
18. Transfer of the Property or a BeneJïcia] Interest in Borrower, As used in this Scction 18,
"Interest in the Property" means any 1cg:d or beneficial interest in llie Pruperty, inclllding, bUI not limited to,
those beneficial interests transferred in a bond 1'01' deed, conlract for deed, illstallment sales contract ur escrow
agreement, the intent of which is the transfer of title by Borrower at a futurè date: to a jJurchaser.
If al1 or any part of the Property or any Interest iu the Property is so]d or transrerred (or if Borrower is not
a natural person and a beneficial interest in Borrower is sold or transferred) without Leneler's prior written
consent, Lender may require immediate payment in fu]] of ail sums secured by this Security Instrument.
However, this option sha]] not be exercised hy Lemler if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lende:r sha]] give Borrowe:r notice of acceleration. The no lice shaH
provide a period of not less than 30 days from the date the notice is given in accordance with Section 15
within which Borrower must pay a]] sums secured by this Security Instrument. If Borrower rails to pay these
slims prior to the expiration of this period, Lender may invoke any remedies ptl111itteel by this Security
Insrnllnent without further notiœ or demand on Borrower.
lnilials:
~µ,L -
~ -6A(WY) (0005)
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CHL (08/00)
Page B of 11
Form 3051 1/01
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DOC 10 #: 00011843208111005
19, BOlTower's Right to Reinstate After Acceleration, If Borrower meets certain comlitions, Borrower
shall have the right to have enforcement of this Security [nstmment discuntinucd at any time prior to the
eW'!iest of: (a) five days before sale of the ProperlY pursuant to any power of sale contained in Ihis Sel'urity
Inslmment; (b) such other period as ApplicabJe LI\\' might specify for the termination 01' Borrower's right to
reinstate; or (c) entry of a judgment enforcing this SeClllity Instrument. Those condilions are that Borrower:
(a) pays Lender all sums which then would be due under this Security Instnllnenl and Ihe Note as if no
acceleration had uccurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses
incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees,
property inspection and valuation fees, lInd otber fees incurred for the purpose of protecting Lender's interest
in the Property and rights under this SecLHity Instrument; lInd (d) takes such action as Lender may reasonably
require to assure that Lender's interest in Ihe Property and rights under this Secmity Instrumenl, alld
Borrower's obligation to pay the sums secured by this Security Instrument, shall cuntilluc unchang.::d, L.::nder
may require that Borrower pay such reinstatement sums and expenses in one or more uf the following forms,
as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's
check, provided any such check is drawn upon an instillltion whuse deposits are illsured hy a Cederal agency,
instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security
Instrument and obJigalions secured hc,reby shall remain Cully effective as if 110 acceleration had occurred.
However, this right to reinstate shall not apply in the case of acceleralÍollunder Section 18.
lO. Sale of Note; Change of Loan Servicer; Notice of GI-ievance. The Note or a p~lrtial inleresl in the
Note (together with this Security Instrumcllt) can be sold one or more times without prior no lice to Borrower.
A saJe might result in a change in the entity (known as the "Loan Servicer") that cullects Periodic Paymellts
due under the Note and this Security Instrument and performs other mortgage loan servicing oblig~ltiolls lIlIller
the Note, this Security Instrument, and Applicable Law. There also might he ont or more changes oC the Loan
ServiceI' unrelated to a sale of the Note. If there is a change of the Loan Strvicer, Borrower will be given
wrillen notice of the change which will state the name and address of the new Loan Servicer, the address to
which payments should be made and any other inCoJlnation RESPA reqllires in L'lmnection with a notice of
transfer of servicing. If the NOle is sold and thereafter the Loan is serviced by a Loan ServiceI' other than the
purchaser of [he Note, the mortgage Joan servicing ohligations to Borrower will r('main with the Loan Servicer
or be transferred to a successor Loan Servicer ane! are nol assumed by the Nole purchaser unless olherwise
provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an
indjviduallitigant or the member of a c.Jass) that arÎses Crom the olher party's acliolls pursuant to this Security
Instrument or that aJ]eges that Ihe other party has breached any provision of, or any dUlY owed by reason of,
this Security Instrument, until such Borrower or Lender has nOlified the other party (with sllch notice given in
compliance wilh the requirements of Seclion 15) of such alleged breach and afforded Ihe other p~\ny hereto a
reasonahle period after the giving of such nOlice to take corrective action, If AppJicable Law provides a time
period which must elapse before certain actioll can be taken, that lime period wiJ] be deemed to be reasonable
for puq)oses of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursllant
to Section 22 and the notice of acceleration given to Borrower pmsuant to Section 18 shall be deemed to
satisfy the notice and opportunity to take l'olTective action provisions of this Section 20.
21. Hazardous Substances, As used in this Section 21: (a) "Hazardous Sllbstances" are those suhstances
defined as toxic or hazm'dous substances, pollutants, or wastes by Environmental Law a III I the fullowing
substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides ;lIld herbicides,
volatiJe solvents, materials containing asbestos or formaldehyde, and radioactivè materials; (b)
"Environmental Law" means federal laws and Jaws of the jurisdiclion where the Property is localed Ihal rdate
to health, safety or environmental protection; (c) "Environmental CJeanup" includes any response ;¡clion,
remediaJ actioll, or removal action, as defined in Enviromnenlal Law; amI (d) an "Environmental Condition"
means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup.
Borrower shall not cause or permit the presence, use, disposal, storage, or re1l~ase of any Hazardous
Substances, or threaten to release any Hazardous Substances, on or in the Property, Borrower shall nut do, 11m
aJlow anyone else to do, anything affecling the Property (a) Ihat is in violation of any Environmental Law, (b)
which creates an Environmental Condition, or (c) which, due to the presence, use, or rtJease 01' a Hazardous
Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences
shaIJ not apply to the presence, use, or storage on tIle Property of small C]llautiti.::s of lLizardous Substances
thai are generally recognized 10 be appropriale to normal residential uses and to maintenance of till: Property
(including, but not limited to, hazardous substances in consumer products).
Borrower shaJ] promptly give Lender written notice of (a) any investigation, claim, dem~llld, lawsuit or
other action by allY governmental or regulatory agency or priv¡lte party involving tile Pruperty ;llld any
Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) ;lny Enviruillnenlal
Condition, including bUI IlOt limited to, allY spiIJing, leaking, discharge, release or threat uf release: of any
Hazardous Sllbslance, and (c) any condition cansed by the presence, use or release of a Hazardous Substance
which adversely affects the value of the Property. If Borrower learns, ur is notílïed by any gOVèn1mental or
regulatory antllOrity, or any private parly, that any removal or other remcdiation of any Hazardous Suhstance
affeL'ling the Property is necessm)', Borrower shall promptly take ;ill necessary remcdi;d actions in accurdance
with Environmental Law. Nothing herein shall create an> ubligation on Lender for an Envin}nmental Cleanup,
Initials:
t- ¡U . l~ -
Form 3051 1/01
G -6A(WY) (0005)
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Page 9 of 11
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DOC 10 #: 00011843208111005
NON-UNlrORrvl COVENANTS, Borrower and lender further COVè;naut amI <lgrcè; <IS follows:
22, Acceleration; Remedies. Lender shall give notice to Borrower priur to aCl'L'leratiun following
Borrower's hreach of any covenant or agreement in this Security InstrulIlent (hut not prior to
acceleration under Section 18 unless Applicahle Law provides otherwise), The notice shall specify: (a)
the default; (b) the ac!ion required to curl' the default; (c) a date, not less than 30 days from the date the
notice is given to Borrower, by which the default must be cured; and (d) that failure to curl' the del'ault
on or before the date specitied in the notice lIlay result in acceleration of the sums secured by this
Security Instrument and sale of the Property. The notice shall further inforlll Borrower of (ll(' right to
reinstate aftl'r acceleration and Ihe righl to hring a court action to assert Ihe nOIl-l'xis!ence oj' a default
or any other defense of Borrower to acceleration and sale. If the dtfaull is not cUrl'd Oil nr before the
date speciJied in the notice, Lender at its option may require immediate paYlllent in full of all sums
secured by this Security Instrument without further demand and may invoke the power of' sale and any
other remedies permitted by Applicable Law, Lender shall be entitled to co1lect aJIexpenses incurred in
pursuing the remedies provided in this Section 22, including, but not limited 10, reasonable at tOlï1eys'
fees and costs of title evidence.
IJ Lender invokes the power of sale, Lender shall give notice of inlent to foreclose to Borrower and
to the person in possession of the Property, if difl'erenl, in accordance with Applicable Law. Lendl'r
shall give notice of the sale to Borrower in the manner provided in Section 15. Ll'nder shall publish the
notice of sale, and the Property sha1l he sold in the manner prescribed hy Applicabll~ Law. Lender or its
designee may purchase the Property at any sale. The proceeds of the sale shall he applied in the
following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees;
(b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally
entitled to it.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this
Security Instrument. Borrower shaD pay any recordation costs, Lender may charge Borrower a ke for
releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the
chmging of lhe fee is pell11illed under Applicable Law.
24. '''aivel's, Borrower releases and waives all rights under and by virtue of the hOI11eskad exemption
Jaws of Wyoming.
BY SIGN1NG BELOW, Borrower accepts and agrees tu the terms and covenants contained 111 this
Security Inslrument and in any Rider executed by Borrower and recordè;d with it.
Witnesses:
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(Seal)
["PANe seo HAFTINEZ LOPEZ
- ßnrrower
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Leticia Guzínrn Silva
(Seal)
-Burrower
(Seal)
-13 l')rrower
(Seal)
-!3()lTower
o -6A(WY) (0005)
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CHL (08/00)
Page10of11
Form 3051 1/01
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STATE OF \VYOMING,
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DOC 10 #: 000118432081J1005
Lincoln County ss:
The foregoing instrument was acknowledged before me this 11/18/2005
by Francisco Martinez Lopez and Leticia Guzman Silva
My Commission Expires: /O(f!;72¿J¿.-<J
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