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After Recording Retum To
FIRST NATIONAL BAl'ffi. 1;\lEST
PO BOX 3110
ÞLPINE, vJYC11ING 83128
Loan Nillcber: 115684924
RECEIVED 11/23/2005 at 2:55 PM
RECEIVING # 913962
BOOK: 605 PAGE: 806
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Above This une For Recording Data]
MORTGAGE
~ßN: 100015700061136806
DEFINITIONS
Words used in mu1tiple sections of tillS docLUl1ent are deJíned below and other \Iorels w'e elefíned in Sections 3, ]],
13, ] 8, 20 wId 2]. Certain m]es regarding the usage of \\ords used in this documenl WT also prmjdcd in Section] 6
(A) "Security Instrument" means this documenl, \\'hich is dated j:<IOí¡TI'JIBEF 18, 200~) ,to!:,c'lher
with all Riders to this document
(ll) "Borrower" is H~RK E FAULKNER ÞJm l'{;;FY LOUISE FPJJÜ:]\JEF HUSBPJJD
WIFE AS LJOINT TEtF\NTS
Bcmower is the mortgagor under this Security Instrument.
(C) "MERS" is Ivlortgage Electronic Registration Systems, Inc MERS is a separate corpurmion that is acting
solely as a nominee for Lender and Lender's successors and assl,l".lS. IVIERS is the mortgagee unller this Security
Instrument. IvIERS is organized ¡md existing LUlder the laws of Delaware, and has Wl address ,md telephonc number
ofP,O. Box 2026, Flint, Ml 48501-2026, teL (888) 679-MERS.
(D) "Lender" is FIRST l<L2I.TIOliZ\L RÀ.:NK WEST
Lender is a þ, !'IATIONA-L BÞl<JKING .A.sSOCL~TION
and existinu under the laws of 1iJYC11ING
Lender's address is 100 GREYS RIíIEF PQZ\D, }'\LPINE, 1iJYQ[\1ING 8]128
orgw1ized
(E) "Note" meW1S the prollllSsory note signed by Borrom::r wId dated IJOïIEl'!IBEP. 18, 200 S
The Note stales that Borrower owes Lender ONE HUNDBED FORTY -TV'JO THOU SPl TL)
HUl\JDRED PlID 00/100 Dollars(US. $142,400.00 ) plus interest
Borrower has promised to pay this debt in regular Penodic Pa)1nents wId to pay lhe debt in full not laler than
DECEt.ffiER 1, 2035
(F) "PropeI1y" meWlS the property that is described belm\" wlder the heading "Trw1sfer of Rights in the Properly,"
(G) "Loan" means the debt evidenced by the Note, plus mterest, any prepayment charges wId late chw~ges duc under
the Note, wld all SlUm dLIe~n'éler this Sccurity Instnunent, plus interest
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(II) "Riders" memlS all Riders to this Seemity Instnunent that me e\.eeuted by Bon-ower. The followlIlg Riders arc
to be e\.ecuted by Borrower [check bo\. as applicable]:
0 Adj ustablc Rate Rider 0 Condominiwn Rider 0 Second Home Rider
0 Balloon Rider 0 Planned Unit Development Rider 0 Other(s) [specify]
0 I -4 F mnily Rider 0 Biweekly Payment Rider
(1) "Applicable Law" memlS all controlling applicable federal, state ~md local statutes, regulations, ordinances mld
administrative rules mld orders (that have the effect of Im\) as well as all applicable final, non-appe~ùable judicial
oplJllons,
(J) "Community Association Dues, FL'eS, ímd Assessments" memlS all dnes, fees, assessments and other charges
that are imposed on Borrower or the Property by a cundomilllum association, homeO\\1lers association or s1l11llar
orgmÙzation,
(K) "Electronic Funds Transfer" memlS illl\' transfer of funds, other thml a tTmlsaction origmalcd by check, draft,
or similar paper instnunent, \\hich is initiated tlu-ough ml electronic temlÍnaL teJephOlllC illstrwllent, compuler, or
magnetic tape so as to order, instTUct, or authorize a finmlCial institution to debit or credit an account. Such k:nn
includes, but is not limited to, point-of-sale transfers, automated teller machine trmlsactions, trilllsfcrs lJliliated by
telephone, \\"ire transfers, mld automated clem-inghouse trmlsfers
(L) "Escrow Items" memlS those items that are described in SectIon 3,
(1\1) "Miscellaneous Proceeds" means m}y compensation, settlement award of dillllages, or proceeds pmd by mlY
third Pill-ty (other thilll insmance proceeds paid under the coverages described in SectIon 5) ¡'or (i) dillnélge to, or
destruction of, the Property; (ii) condemnation or other tak1Jlg oj all or illlY part oj the Property; (iii) con\"ey~mce m
lien of condemnation: or (iv) misrepresentations of, or omissions as to, the v~ùue and/or condition of the Property
(N) "MOIigage Insurance" memlS insurmlcc protecting Lender against the nonpayment of, or dcfmtlt on, the Loan.
(0) "Periodic Payinent" memlS the regularly scheduled illllOunt due for (i) principal and interest Lmder the Note,
plus (ii) mlY mnolUlts lmder Section 3 of this Security Instnunent
(P) "RESP A" means the Real Estate Settlement Procedures Act (12 US C §260 I et seq,) ~md its implementing
regulation, Regulation X (24 C. F. R Pill-t 35(0), as they nllght be mnended hom time to time, or mlY additional or
successor legislation or regulation that govems the same subject mCllte!". As used in this Security InstrwnenL
"RESPA" refers to all requirements illld restrictions that m-e imposed in regm-d to a "federal]y related mortgage JOim"
even if the Loml does not qualify as a "federally related mortgage loan" wlder JŒSPA,
(Q) "SucLCssor in Interest of Borrower" means lli1Y pm-ty that has taken title to the Property, whether or nUL that
party has assumed Borrower's obligations under the Note and/or this Security Instnunent.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secmes to Lender: (i) the repayment of the LOilll, mld all renem"Ùs, e\.tensions ,me!
modifications of the Note; mld (ii) the perfonnmlce of Borro\\er' s covenmlls mld agreements under tlllS Security
Instnullent ,md the Note, For this purpose, Borrc)\\cr does hereby mortgage, grmlt mld comey to i\JERS (solely as
nonÙnee far Lender mld Lender's successors mld assIgns) ,md to the SLICceSSorS mld Dssigns of MERS, \\ith power oj
sale, the following described property located in the
COTJN'TY of LH·JCOlN
[1\jJ<:: of[{,xordin.'!, Jurisdiction µ'1wl1c: üfRŒOIlLn". .llIriS<.LcLiü~ll
lDT 99 11\1" STAR \í'8J.LEY PANCH PU~T 21, LINCUUT COTJNrl, ~'Jya1ING"bS
DESCFIBED ON THE OFFICLAL Pll\T THEF<EOF.
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which currently has the address of
173 CUSTER DRIVE
[Slreêt]
TH.AYNE
[City!
, Wyoming
E13127
[ZIp CoJeI
("Property Address")
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereaf1er a part of the property, All replacements and additions shall also be
covered by this Security Instrument. All of the foregoing is referred to in tillS Security Instrument as the "Property."
Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Secmity'
Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and lender's successors
and assIgns) has the right: to exercise any or all of those interests, including, bul not limited to, thc fight 10 foreclose
and sell the Property; and to take any action required of Lender including, but not lunited to, releasing and canceling
this Secw-ity Instnunent.
BORROV/ER COVENANTS that Borrower is li1\vfully seised of the estate hereby comeyed ¡Uld has the right
to mortgage, grant and cOln-ey the Property and thaI the Properly is unencLUnbered, cxcept for encumbrances of
record. &mower warrants and will defend generally the title to the Property agamst ¡ùl claims and demands, subject
to any encLUnbnUlccs of record,
THIS SECURITY INSTRUMENT combines lU1ifonn cÜ\'enanls forna1iol1al use and l1on-unifonn cO\enants \Iith
limited variations by jurisdiction to constitute a lUliform security instnunent covering real property,
UNIFORM COVENANTS. Borrower and Lender CO\"CJIWlt wId agree as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bommer shall
pay when due the princIpal of, and interest on, the debt e\'ldenced by the Note WId WlY prepayment chw'ges and late
chw'ges due under the Note. Borrower shall also pay funds for Escrow Items pursuwl1 to Section 3. Payments due
wider the Note and this Security Instnunent shall be made in U. S. cLUTency Ho\\e\er, if WlY check or other
instnunenl received by Lender as paYlnent under the Note or this Security Instrument is returneclto Lender unpaid,
Lender may require that any or all subsequent payments due wIder the Note WId this Security lnstrwncnt be made in
one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) ccrtíiíed check, bank check,
treasurer's check or cashier's check, provided WlY such check is drawn upon WI institution whose deposits WT mSllfed
by a federal agency,inSlrwnentality, or entity; or (d) Electron.ic FWlds Transfer.
Payments are deemed received by Lender when receivecl at the location designated in the Note or at such other
location as may be designated by Lender in accordance with thc notice prO\isions in Section 15, Lender may return
any payment or pw-tial payment if the payment or pw·tial pay ments arc insufIicient to bring the LOWI cunent. Lcnder
may accept any payment or partial paYlnent insU£ìicient to bnng the LOWI cllfrent, \\ithout \vaiver of any rights
herewlder or prejudice to :its rights to refuse snch payment or pw-tial payments m the future, but Lender is not
obligated to apply such paYl11ents at the time such payments are accepted If cach Periodic Payment is :Ipplícd as of
its scheduled dne date, then Lender need not pay interest onlul(¡pplied funds. Lender may hold such ull¡¡pplic:d funds
lUltil BoITO\\'er makes paY1l1ent to bring the LOWI current. If Borrower does not do so within a reasonable period of
time, Lcnder shall either apply such flUlds or retllm them to Borrower If not applied earlier, such funds wtll be
applied to the outstwlding pnncipal balwlce under the Note inunediately prior to foreclosure No oiLet or claim
which Borrower might have no\\' or in the future against Lender shall relieve Borrower from making payments due
wider the Note WId this Secllfity Instnllnent or performing the cO\enants and agreements secured by tillS Security
Instrument.
2, Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
accepted WId applied by Lender shall be applied in the following order of priority: (a) interest due under ¡he Note;
(b) principal due under the Note: (c) wnonnts due wIder Section 3. Such payments shall be applied!O each Periodic
Payment in the order in which it became due Any remaining ,Ul10lUlts shall be applied Erst to late ch¡u-ges, second
to WlY other llillolmts due wIder this Security Instrwllent, WId then to reducc the princlpal bal,mcc of the Note,
If Lender recei\ esl\ a payment from Borrlhler for a delmCjuent Penodlc Pdymenl \\Iuch mcludes a sulliucnt
wnow1110 pay any lat~ ~hiU-ge dlle. the pay mcntllla\ be app]¡td to thc dellllCjllent paY]llentllild tbe lale charge l1'
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more than one Periodic Payment is outstanding, Lender Illay apply any payment received from Borrcmer to the
repayment of the Periodic Payments if, amI to the e:-;tent that, each paY111ent ccm be paillm full. To the e:-;tent that
any e:-;cess e\Jsts after the payment is applied to the full payment of one or more Perrodic Payments, SUCI1 e:-;œss may
be applied to any late charges due. Voltmtary prepayments shall be applied iirst to any prepayment charges cmd thên
as described m the Note,
Any appJici.!tJOn of paY11lents, insurance proceeds, or Ivliscellancous Proceeds to princIpal due under the Note
shall not e\tcnd or postpone Ùle due date, or change the illllOLUlt, of the Perrodic Payments,
3. Funds for Escrow Items. Borrower shall pay to Lender on tile day Periodic Payments are due lmder the
Note, LUltillhe Note is paid in full, a SLUn (the "fLUlds") to provide for paY1llent of illnoLUlts due for: (a) ta\:es and
assessments and other items which call attillll priority over this Security Instnullent as a lien or encLUllbumce on the
Property; (b) leasehold payments or grOlUld rents on the Property, if illlY; (c) prenllLUllS for any ímd all insurilllce
required bv Lender lU1der Section 5; and (d) Mortgage Insurance prenllLUllS, if any, or illIV Slllns payable by Borrower
to Lwder ln IJeu of the payment of Iv10rtgage Insur::Ulcc premiLUns in accordilllce with the provlsions of Section J U.
These items are called "Escrow Items." At origination or at any time dunng the term urthe Loan, Lendcr lllay require
that Conn11Lmity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
assessments shall be an Escrow Item. Bonower shall promptly furnish to Lender all notices of WlIOLUlIS to be p:Dd
under this Section. Bonower shall pay Lender the F lUlds for Escrow Items unless Lender \\:lÌves Borrower's
obligation to pay the Funds for any or all Escro\\ Items, Lender may \\al\e Borroller' s obligation to pay to Lender
FLUlds for WlY or all Escrow Items at any time, Any such waiver may only be 111 \\Titing ]n the e\ent of such \1 :D\Cr,
Borrower shaH pay directly, when and where payable, the illllOlUltS due for any Escro\\ Items for \\hich payment of
Funds has been w:Dved by Lender and, if Lender requires, shilll furnish to Lender receipts evidencing such payment
within such time penod as Lender may require. BOITower's obligation to make such payments :md to provide receipts
shall for all purposes be deemed to be a covenilllt and agreement cont:Dned in this Security Instrument, as the phrase
"co\'enantillld agreement" is used in Section 9, J1' BorrO\\Cr is obllgatecl to pay Escro\\ Items directly, pursuant to
a waiver, illld Bono\\er fails to pay the aJnOlmt due for an Escrow Item, Lender may exercise its nghts under Section
9 and pay such mnoLUlt mld Bonower shall then be obligakd under Section 9 to repay to Lender illl) such illllOlUlt.
Lender may revoke the waiver as to illlY or all Escrow Items at illlY time by a notice giye:n 111 accord,mcc with Section
15 illld, upon such revocation, Borrower shall pay to Lender al] FlUlds, illld in such mllOlU1ts, tlwl cu-e thcll required
LUlder this Section 3.
Lender may, at mlY time, collect mld hold Funds in all mllount (a) suí1Ïcient to pennit Lender to apply the Funds
at the time specified LUlder RESP A, mld (b) not to exceed the ma.\:.ÌmuUl illllount a lender C,U1 require under RESPA.
Lender shall estimate the alllOlU1t of FLUlds due on the basis of current data mld reaso11Jblc estimates of expendÙmes
of future Escrow Items or otherwise in accordance with Applicable La\\".
The funds shall be held in 311 institution whose deposits are insured by a federal agêncy, 1llstrumentalitv, or
entity (including Lender, if Lender is 311 institution whose deposits m-e so insmed) or in any Federal I !cHile: Lo,m
Bmili, Lender shall apply the Funds to pay the Escrow hems no later thaJl the time: specified under RES?/\.. Lender
sha]] not charge Borrower for holding mld applying the flUlds, mmually analyzing the escro\v account, or \crii) JJlg
the Escrow hems, unless Lender pays Borrower inlerest on the Funds mld Applicable L!\\ permits Lender to make
such a charge UnJess 311 agreement is made in \\Titing or Applicable Law requires interest to be paid on the Funds,
Lender shall not bc required to pay Borrower illlY interest or earnings on the F LUlds, Borrower anel Lend:;r eilll agree
in \uj¡ing, however, that interest shall be paid on the ftmds, Lender shall gi\'e to BorrO\\er, \vithout charge, illl
annual accounting of the F llllds as required by RESP A
If there IS a surplus of Funds held in escrow, as deJincd Linder RES? A, Lender shall accOlUlt to BorrO\\er for
the excess funds 111 accordance with RESP A If there IS a sJwrtage ofF lUlds held in eSCI\)1\ , as defíned Lll1der RESPA
Lender shall !lotd)' Bonower as requrred by RES? A mld Borrower shall pay to Lender the amount necessary to make
up the shortage in aecordmlcc \\"ÌÙl RESP A, but in no lllore thilll 12 monthly payments. If there is a dc:fjcjcncy of
F1U1ds held in escrow, as defined under RESPA, Lender shallnotiJ)' Borrower as required by RESPA, and Borrower
shall pay to Lender thc mnount necessary to make up the deficlenc\ in accord,mcc \Iith RESPA, but in no more thilll
J2 monthly paymenls.
Upon payment U1 f~1l of all sUlns secured by this Security InslfLlmenl, Lender shal1 promptJy refund to Borrower
m1Y F Ullds held b\ Len leI.
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4. Charges; Liens. Borro\\er shall pay all ta.xes, assessments, charges, fines, and impositions attributable to
the Property which can attain priority over this Secm-ity jnstrwnent, !c:aschold paY111ents or ground rents on the
Property, if any, and Comlllunity Association Dues, fees, and Assessments, if any To the extent that these items
are Escrow Items, Borrower shall pay them in the mmlller provided in Section 3.
Borrower shall promptly discharge illì) liell which has pnority o\'er this Security Instrument unless Borro\ver:
(a) agrees in \vriting to the payment of the obligation sêcured by the lien in a manner acceptable to Lender: but only
so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defencls against
enforcement of the lien in, legal proceedings which in Lender's opinion operate to pre\'ent the enforcement of the lien
while those proceedings are pending, but only wüil such proceedings are concluded; or (c) secm-es from the holder
of the lien ml agreement satisfactory to Lender subordinating the lien to this Secmity Instnullent If Lencler
determines that ¡my paIi of the Property is subject to a lien which can at1ain priority over this Sccmìl)' InstrwnenL
Lender may give Borrower a notice identiJ)'ing the lien. Within 10 days of the date on which that notice 1S given,
Borrower shall satisfy the lien or take one or more of the actions set forth abo\e in tIllS Section '-I.
Lender may require Borrower to pay a one-time chm'ge for a real estate ta.\: vcnfication and/or reporting service
used by Lender in connection with this LOaIl.
5, PropeJiy Insurance. Borrower shall keep the improvements nO\v existing or hereafter erected on the
Property insm-ed against loss by fire, hazards included within the tenn "extended coverage," and aI1\' other hazw-ds
including, but not limited to, earthquakes mld Hoods, for \\I11ch Lender requires insmwlcc. This insurwlcc shall be
maintained in the amounts (including deductible levels) w1d for the periods that Lender requires, What Lender
requires pursumlt to the preceding sentences eilll chilllge during the term of the Low} The inslu:u1Ce clliTier prondmg
the insmance shall be chosen by Bon-ower subject to Lender's right to disapprove Bon-ower' s choice, which right shall
not be cxercised w1reasonably. Lender may require Borrower to pay, inc01U1cction\\ith this LOllil, cithcr (a) a onc-
time charge for flood zone deteilllination, certification mld tracking services; or (b) a one-time charge for Hood zone
detennination and certification services ill1d subsequent charges each time remappings or similw- changes oceur which
reasonably might affect such detem1Íuation or certification, Borrower shall also be responsible for the payment of
m1Y fees imposed by the federal Emergency M:magement Agency III e011\1ection \\ith the review of WlY flood zone
detennination resulting from an objection by Borrower.
If Borrower fails to maintain mlY of the coverages described above, Lender may obtain insurm1ce coverage, at
Lender's optionillld Borrower's expense. Lender is lwder no obligation to purchase m1Y pmiicu]¡u- type or amount
of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borro\\èf's
equity in the Property, or the contents of the Property, againslwry risk, hazard or liability mld might provide greakr
or lesser coverage than was previously in effect. Borro\\er acknowledges that the cost of the insurwlce coverage so
obtained might significm1tly exceed the cost of insurw1ce that Borrcmer could have obtained, /\lì) amOlUlts disbursed
by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instnunent These
llillounts shall bear interest at the Note rate from the date of disbursement llild shall be payable, \\1th such interest,
upon notice ÍÌ"om Lender to Borrower requesting payment.
All insurill1ce policies required by Lender and renewals of such policies shall be subject to Lender's nght to
disapprove such policies, shall include a stwldardmortgage clause, llild shallniulle Lender as morlgagee imd! or as llil
addilionalloss payee Lender shall have the right to hold the policies wld renewal certificates. If Lender reqll1res,
Borrower shall promptly give to Lender all receipts of paid premiums mld renewal notices, If Bonom::r obtains WlY
form of insm-m1ce coverage, not otherwise required by Lender, for dwnage to. or deslruction of the Properly, sllch
policy shall include a standard mortgage clause wld shall nmne Lender as mortgagee and/or as WI additiollaJ loss
payee.
In the event ofloss, R.lrrO\ver shall give prompt notice to the insurw1cc carrier lli1d Lender. Lender may mal-;e
proof of loss if not made promptly by Borrower. Unless Lende:r imd Bon-olVcr othe1\vise agree in \\Tning, ¡my
lllsurill1CC proceeds, whether or not the lUlderlying insurwlce \vas reql11red by Lender, shall be applied to restoration
or repair of the Property, if the restoration or repair is economically feasible wld Lender's security is !lot lessened.
Dming sllch repair wld restoration period, Lender shall have lhe right to hold sllch insllrllilcc proceeds until Lender
has had all OppOItlU1Íty tq inspect such Property to ensure the \lork has been compleled to Lender's sal1sfaction,
provided that such inspecLon shall be undertaken promptly, Lender may disbllrse proceeds for the repairs and
restoratJon 111 a smgle pa~ ~lent OJ in a senes of progress pa) ments as the \\ uri- IS completed Unless WI agreement
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is made in \\Titing or Applicable Lm\ requires interest to be paid on such insunmce proceeds, Lender shal! not be
required to pay Borrower ¡my interest or earnings on such proceeds Fees for publIc adjusters, or other tlurd Piu-ties,
retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation or Borrower
If the restoration or repair IS not economically feasible or Lender's security would be: kssened, the insurance proceeds
sh~JII be applied to the sums secured by tlus Security InstnUllent, whether or not then due, wllh ¡he ,,:X(\.'ss, if any, paid
to Borrower Such insurance proceeds shall be iJpplied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may iíle, negotiate and seule any iJ\'ailable insurance claim ,md
related matters. If Borrower does not respond within 30 days to iJ notice iÌ"om Lender tlwt the insunmcc carner has
offered to settle a claim, then Lender miJY negotiate and settle the claim The 30-c!ay peliod wj j begin when the
notice: is gl\en, In either event, or if Lender acquires the Property LUlder Section n or otherwise, Borro\\er hereby'
assigns to Lender (a) Borrower's rights to ¡my Jl1surancc proceeds in an amount not to exceed the amounts unpaid
under the Note or this Security lnstnullent, and (b) any other oj Borrower's rights (other thim the right to any refund
of w1eamed premiwlls paid by Borremer) under al] insmance policies covering the Property, insofar as such rights
are applicable to tl1e coverage of the Property. Lender may use the: JJlsunmce proc2cds either 10 repmr or restore the
Property or to pay amounts w1paid under the Nole or tl1lS Sccurity Instrwuent, \Ihether or not then due,
6. OCLLlpancy. Borrower shall occupy, establish, ¡md use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instnwlent and shall cOJ1linue to occupy the Property as Borro\\(,:r' s
principal residence for at least one year aJier the date of occupancy, lUlless Lender othe!\\ise agrees in \\Tlling, \vhlch
consent shaJJ not be unreasonably \\ithheld, or lUlless extenuating circumstances ex.ist which are beyond Bommer's
control.
7. Preservation, Maintenancc and Protection of the Propel1y; Llspedions. Borrower shall not destroy,
dWl1i1ge or impair the Property, allow the Propcrty to dcteriorate or commit \liJStl: on thc Propcrty vvllethcr or not
Borrower is residing in the Property, BorrO\\er shalJ maintalll the Properly in order to prevent lhe Property from
deteriorating.or decreasing 111 value due to lls condition, Unless it is determined PUTSUWll to Secl10n 5 thal rèpair or
restoration is not economically feasible, Borrower shall promptly repair the Property if dWl1aged to avoid fLU-ther
detenoration or dWl1age, If insurWlce or condemnation proceeds are paid in connection with dW1lage to, or the' taklllg
of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
proceeds fiJr such purposes. Lender may disburse proceeds for the repmrs Wle! resloration in a single paymenl or in
a series of progress payments as the work is completed If the insmw1ce or condemnation proceeds WT not suifiClcnt
to repair or restore the Property, Borrower is not relieved of BorrO\\'er' s obligation for lhe completion of such repair
or restoration.
Lender or its agent may make reasonable entries upon w1d inspections of the Property. lJ' it has reasonable CaLlSe,
Lender may inspect the interior of the imprO\ements on thc Property, Lender shall give Borrower noticc at the time
of or prior to such an interior inspection speci(ying such reasonable cause,
8, Borrower's Loan Application. Borro\\ er shall be in default if, during the Low1 applicaljon process,
Bon-ower or W1Y persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
materially false, misleading, or inaccurate infonnalicm or statements to Lendu (or LJ1led 10 pJ\IVJc!C Lendc:r 1\ Ilh
material information) in connection mth the Lowl ivlaterial reprcs¡;ntations include, bul are nol linJlled to,
representations conceming Borrower's OCCUPW1CY of the Property as Borrower's pnncJpid residence.
9. Prutection of Lender's Interest in the Property ;did Rights Under this SCLllrity Instrument. If (iJ)
Borrower fads to perform the covenwlts wld agreements contained in tillS Security InstrumenL (b) there is a legal
proceeding that might significw1l1y affecl Lender's interest in the Property wId/or rights under tillS SecufJl) Instrulllcnt
(such as a proceeding in bw1l.ruptcy, probate, for condemnation or forkjture, for enforcement of a ben \\¡Hch 111:1\'
attain priority over this Security Instrument or to enforce Iml's or regulalions), or (c) Borrower has abimdoncd the
Property, then Lender Ulay do and pay for whatever is reasonable or appropriate to protect Lender's interest 1Jl the
Property wld rights under this Security Instrument, including protecting wId/or assessing lhe value of the: Property,
wld securing wld/or repainng the Property, Lender's iJctions CW1 include, but arc not jnulcd to: (a) pa\jng an) SlllllS
secmed by a jell which has priority over this Security Instrument: (b) appe,u-ing 111 court. and (C) pa)'111g Il':1Sonable
at10meys' fees to prolectitS interest in the Property WJd/or rights under this SCCUlll)' Instrument, 1Jlcluding its secured
position in a bw1kruptcy ~roceeding Secming the Property includes, but is not limited to, enkring the Property to
make repairs, chw1ge locb, replace or b,)arclup doors wld \1 indml s. dJ,un \\ a!t~r 11 om pipes. clj¡llinilte buiJdlllg OJ
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other code violations or dangerous conditions, and have utilities lllnled on or 011 Although Lender may take action
under this Section 9, Lender does not have to do so and is not llllder any duty or obl1gation to do so, It is agreed that
Lender incurs no lIability for not taking any or all actions authorl/cd lmder this Section 9
Any amolmts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by tIllS
Security InSlrWllent. These amounts shall bear interest at the Note rate from the date of disbursement and shalJ be
payable, with such interest, upon notice from Lender to Borrower requesting payment.
If this Security Instrwllent is on a leasehold, Borrower shall comply with all the provisions of the lease. If
Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the
merger in \\Titing.
10. .Mol1gage Insurance.. If Lender required J\lortgage Insurance as a condition oCmal,ing the LmUJ, Borrower
shall pay the premiullls required to maintain the Mortgage Insurance in eirec!. If, for ¡Uly reason, the !vlortgage
Insurance coverage required by Lender ceases to be available from the mortgage ll1surer that previously provided such
insurance and Borrower was reqllired to make separately designated payments toward the premlluns for Mortgage
Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
Insurance previously in etfect, at a cost substantially equivalent to the cost to Borrc)\\er of the fvfortgage Insurance
previously in effect, hom an alternate mortgage insurer selected by Lender Jr subslantIa!!y equivülent Mortgage
Insurance coverüge is not available, Borrower shall continue to pay to Lender the amount of [he separateJy designated
payments that were due \vhen the insufimce coverage œasedto be 111 effect. Lender \\·ill accept, use and relam these
payments as a non-refwldable loss reserve in lieu 01' fvlortgage Insurance, Such loss reserve shall be non-refundable,
notw-ithstanding the fact thatlhe Loan is ultimately paid in full, and Lender shall not be required to pay Borrower WlY
interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Nlortgage Insurance
coverage (in the amonnt ¡Uld for the period that Lender requires) provided by Wl insurer selected by Lender again
becomes available, is Obl:llned, and Lender requires separately designated payments towiU'd the premlllms for
Mortgage InsuTImce, If Lender required l\'1orlgage Insurance as a condition of making the Loan wld Borrower was
required to make separately designated paY11lelllS toward the premiLUlls for Ivlortgage InsuriUlce, Borrower shall pay
the premiums required to maintain Mortgage Insurance in dIect, or to provide a non-refundable loss reserve, until
Lender's requirement for Mortgage Insurance ends in accordance \\"Íth any written agreemem betì'.een BorrO\\er and
Lender providing for such termination or until termination is required by Applicable Law Nothing lJ] this Section
10 afJects Borrower's obligation to pay interesl at the rate provided in the Note,
Mortgage Insurance reimburses Lender (orwlY elllity that purchases the NOle) for certam losses it may incur
if Borrower does not repay the LOiUl as agreed Borrower is not a party to the Mortgage lnSLIriU1CC,
Mortgage insurers evaluate Ùlelf total risk on all such insurance ill force from time to time, wldmay enter into
agTeemenls \\11h other parties that shw'e or modify their risk, or reduce losses These agrcèlllents are on tenns and
conditions that are satisfactory to the mortgage insmer iUld the other party (or p:u-Ùes) to these agreements. These
agreements may require the m0l1gage insurer to make payments usmg ¡my source of funds that thè mortg,age insurer
may have available (which lllay include fLmds obtained Ü-om Mortgage Insurance premiums)
As a result of these agreements, Lender, any PllTchaser of the Note, illlOther insurer, any reins mer, illlY other
entity, or illlY aJüliate of illlY of the foregoing, may receive (directly or indirectly) iUllounts that dèf1 ve lì'om (or llllght
be characterized as) a portion of Borrower's payments for Mortgage lnsuriUlcc, in e\.chwlgc for shiU'ing or Illodii)ing
the mortgage insurer's risk, or reducing losses. If such agreement provides that iUl ai1íliale oC Lender takes a sllim::
of the insurer's risk in e\.change fOf a share of the premiullJs paid to the insurer, the illTiUlgcment is often tèfmed
"captive reinsurance" Further:
(a) AllY such agreements will not affect the amounts that Borrower has agreed to pay for l\1ortgage
Insurance, or ¡Uly other terms of the Loan. Such agreements will not increase the amount Borrower will owe
for Mortgage 1I1sul1Ulce, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has - if allY - with respect to the J\Iortgage
Insurance under the Homeowners I)rotection Act of 1998 or any other law. These rights may include the right
to receive cel1aÏn disclosures, to ITlluest and obtain cancellation of the Mortgage Insurance, to have the
M(1I1gage Insurance terminated automatic:ùly, anlU or to receive a refund of all)" l\10 11 gage Insurance premiums
that were unearned at tl~ time of such cancellation or termination.
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11. Assignment of Miscellaneous Pron~cds; Forfeiture, All Miscellaneous Proceeds (ll'e hereby ussJgneù to
and shall be paid to Lender.
If the Property is d:unaged, such lvliscellaneolls Proceeds shall be applied to restoration or rep,ur of the Property,
if the restoration or repillr is econonucally feasible illld Lender's security is not lesseneD, During such rep,ur ,md
restoration period, Lender shall have the right to hold such Ì\1isu:llill1eous Proceeds unti1 Lender has had m1
opporttU1ity to inspect such Propcrty to ensure the work has been completed to Lender's satisfaction, prO\ided that
such inspection shall be wldertaken promptly Lender may pay for the repairs and restoration 111 a single disbursement
or in a series of progress payments as the work is completed Unless m1 agreement is made in \\Tillng or ApplJcabJe
Law requires int.::rest to be paid on such Miscellmleol1s Proceeds, Lender shall not be required to pJY BorrO\\er any
interest or eill'nings on such Miscellm1eous Proceeds If the restoration or repair is not economically feJsible or
Lender's seCllrity would be lessened, the lvliscellaneous ProceeDs shall be ¡¡pplied to the sums secun;d by tlus Security
Instrument, whether or not Ù1en due, with the excess; if m1Y; paid to Borrower. Such Ì\ltscellm1eous Proceeds shall
be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in v¡¡llIe of the Property, the Miscc]]m1eous Proceeds shall be
applied to the slims securc:d by this Security InstrwnenL \"hether or not then due; \\ith the excess, if any; paid to
Borrower.
In the event of a partial taking, destruction; or loss in valllc of the Property in \\hIch the fJjr market value of
the Property immediatc:1) before the partial taLing, destruction, or loss m value is equal to or greater thm1 the amount
of the Silins secured by this Security Instrument immediateh before the partial taking, destruction, or loss in value,
lmless Borrower and Lender otherwise agree in \\Titing, the sums secured by tl11S Security Instrument skdl be reduced
by the amowlt of the Miscellmleous Proceeds multiplied by the following iì-aetion: (a) the totalllinount of the slllns
secured immediately before the pm-liaI taking, destruction; or loss in value divided by (b) thc fair mm-kct value of the
Property immediately before the Pill'tialtal\.Ìng, dc:struction, or loss m value /I..ny bcllli1ce shall be: paid to Borrower
In the event of a partial taking, destTllction, or loss in value of the Property in which the fair market \alue of
the Property munediately before the partial taking, destructÏon, or loss in ,clue is less than the lliUOlU1t of the StU1lS
secured inunedialely before the partial taking, destTuction, or loss in ,alue, unless Borrower ,md Lender othenvise
agree in \\Titing, the Miscellmleous Proceeds shall be applied to the SUIUS secured by tlus Security Instrument \\hether
or not the Silins are then due.
If the Property is abmldoned by Borrower, or if, after notice by Lemler lo Borro\\LT that the: Opposing Pm·ty (as
defined in the next sentence) offers to make m1 aWlli'c! to settle a claim for dmnages, Borrower fails to ré:spond to
Lender within 30 days aller the date the notice is given, Lender is authorized to collect imd apply the Mlsccllm1eous
Proceeds either lo restoration or repair of the Property or to the stuns secured by this Secunty InstnunenL \\hether
or not then dlLC, "Opposing Party" melli1S the third pm-ty that owes Borrower !vliscelllli1eous Proceeds or the p,u-ty
against whom Borrower has a right of action in regard to Miscellllileous Proceeds
Borrower shall be in default if any action or proceeding; whether civil or criminal; is beglU1 that, 111 Lender's
judgment, could result in forfeit me of the Properly or other material Impairment of Lender's interest 111 the Properl)
or rights lmder this Security Instnunent. B:Jffower can cure sllch a default and, if acceleration has occurreD, reinstate
as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
judgment, precludes forfeltw'e of the Property or other material impairment of Lender's interest in the Property or
rights under this Security lnstrwnenl. The proceeds of any award or claim for dmnages that m'e attributable to the
impainnent of Lender's interest in the Property are hereby assIgned and shall be paid to Lender.
All Ivliscellllileous Proceeds that m'e not applied to restorJlion or repair of the Properly shall be applied in the
order provided for in Section 2.
12. Borrower Not Rcle¿lsed; Forbearance By Lender Not a \Vaiver. Extension of the time for payment or
modification of ml1ortiz.ation of the sums secured by this Security ]nstnul1ent granted by Lender to &mower or m1Y
Successor in Interest of Borrower shall not operate to release the liability of Borro\\er or any Successors in Interest
of BoITower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower
or to refuse to extend time for paYll1ent or otherwise modify llillortization of the SlUl1S secureù b) this Secw-ity
Instnllllent by reason of m1}' denumd made by the ongmal BorrO\\ er or m1Y Successors 111 Interest of BorrO\\ er. 1\.ny
forbearance by Lendl~ II1exercls1l1g illlY right or remed\ 1I1cJuding_ \\lthollt 11l111tatJOn, Lender's acœplimce of
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payments from third persons, entities or Successors in Interest of Borrower or in wnounts I[;ss thWl thc amount then
due, shall not be a waiver of or preclude the e:œrClse of W1Y right or remedy,
13. Joint ¡UlcI Several Liability; Co-signers; Sucœssors ano Assigns Bound. Borroller cO\enwlLs and agrees
that Borrom;r' s obligations wld liability shall bejolllt ¡md several However, any Borrower who co-s]gns this Security
Instrument but does not execute the Note (a "co-signer") (a) is co-slgn111g this Security InsLrument only to mortgage,
grwlt wld convey the co-signer's interest in the Property under the terms of this Sccuri1y Instrument; (b) is not
pcrson¡ùly obligated to pay the SWllS secured by tlus SecllrÎly InstI11menL and (C) agrees that Lendcr WId illl\' other
Borrower can agree to extend, modify, forbear or make illlY accommodations with regard to the terms of tIllS Security
Instnlment or the Note without the co-signer' s consent.
Subject to the provisions of Section 18, W1Y Successor in Interest of Borro\\'èr who assumes &1rrO\lcr's
obligations under this Security Instrument in \\Titing, wld is approved by Lender, shall obtain all of Borrowcr' s rights
wld beneiìts Lmder this Security Instrument. Borrower shall not be released iÌ"om Borrower's obligations wld liability
under this Security InstrUlllent Lmless Lender agrees to such release in \\TiLing, The covenants wld agreements of this
Security Instrwllent shall bind (except as provided in Section 20) wld benefit the successors wld assigns of Lender.
14. Loan Charges. Lender may charge Borrower fees for services performed 111 connection \Iith Borrower's
default, for the purpose of protecting Lender's interest in the Property wld rights under tJus Secmit:y Instrument,
including, but not limited to, attomeys' fees, property inspection wld valuation fees, In regw'd to W1Y other fees, the':
absence of express authority in this Security Instnullent to chw-ge a speciiìc fee to Borrower shall not be constmed
as a prohibition on the chw'ging of such fee. Lender may not charge fees that w-e express I) prohibited by this Security
Instrument or by Applicable Law,
If the LOilll is subject to a law which sets ma\:.Ìlllum IOWl chw-ges, wld that law is finally lllterpreLed so that the
interest or other JOWl charges colketed or to be collected in COlUlcction with the LOWl exceed the pcrmittcd IimiLs,
then: (a) W1Y such 10Wl charge shall b(; reduced by the amolm! necessary to reduce the chw'ge Lo the permitted Jimit;
illld (b) illlY swns already collected from Borro\\er wlllch exceeded permitted limits wilJ be reful1de':dLo Bunc¡\ler.
Lender may choose to make this reíìmd by reducing the principal owed under the Note or b.\ making a direct payment
to Borrower. If a refund reduces principal, thc ruJuction will be treated as a pw-tiaJ prepayment withom Wl)
prepa)111ent chw'ge (whether or not a prepayment chw·ge ]S provided for under the Note). Borrower's acceptwlce of
illlY such reflllld made by direct payment to Borrower will constitute a wai \er or W1) nght 01 action Borrower might
have arising out of such overcharge,
15. Notices. All notices given by Borrower or Lender in connection \\ith this Security Instrument IlluSt be in
writing. Any notice to Borrower in connection with this Security Instrument shalJ be deemed to have bccn given to
Borrower whenmaiJed by iìrst class mail or \vhen actually delnered to BorrO\\ er' s notice address if sent by other
means. Notice to W1Y one Borrower shall constitute notice to all BorrO\œrs wlless Appllcable Law expressJy requires
otherwise. The notice address shall be the Property Address llllless Borrower has designaLed a substitute notice
address by notice to lender. Borrower shalJ promptly notil) Lender of Borro\ler' s ChWlgC of address. If Lcnder
speciiìes a procedure for reporting Borrower's chilllge of address, then Borrower shall only report a chwlge of address
through Ùlat specified procedme. There may be only one designated notice address under this Security Instrument
at illlY one time. An) notice to Lender shall be given by delivering it or by mailing it by iirst class mail to Lender's
address stated herein unJess Lender has designated wlOther add.ress by notice to Borrower. /\11) notice in connection
\\~th this SèCurity Instrwnent shall not be deemed to hale been gn'en to Lender until aclualh received b\' Lender.
If WlY notice required by tllis Security Instrument is also required wlder Applicuble LillI, the Applicable Lm\"
requirement will satisfy the corresponding reqUIrement wlder this Secwity InsLrwnenl.
16, Governing Law; Severability; Rules of Construction, This Security Instrument shall be governed b)
federal law and the law of the jurisdiction in \Ihich the Property is located ~AJl rights wld obligations contained in
this Security Instrument are subject to Wl) requirements illld limitations of Applicable Law. Applicable Ll\\ might
explicitly or implicitly allow the parties to agree by contract or it might be silent, bul such silence shaJl not be
constTLled as a prohibition against agreement by contract. In the evelll that (m) provision or clause of this Security
Instrument 01 the Note conf11cts \\lth ApplIcable L1\I_ such con111ct shall not illIect other pro\ IS101b of tlus Sccllnty
¡',,'nm,aH 0' the NO,e"¡t' ew, be gn'''' eDee' ",thon' ¡he ,,,"helmg p,o",io"
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As used 111 this Secmit)' Instnullen1: (a) words of the masculine gender shall me~U1 and include corresponding
neuter words or words of the feminine gender: (b) \\ords 111 the s1l1gular shall mean ~U1d 1I1chtde the plural and VIce
versa: and (c) the word "may" gives sole discretion \vithout any obliga1ion to take: any action,
17. Borrower's Copy. Borrower shall be gl len Ollt: copy of the Note ~Uld of this Security Instrument.
18. Transfer of the Propcl1y or a Beneficial Interest ill Borrower. As used 111 tJus Section IX. "Interest in
the Property" means any legal or beneÜcirù intere,;t m the Property. including. but not limited to, tho,;c bencfícial
interests transfened in a bond for deed, contract for dœd. installment sales conlract or escrO\\ agreemeuL the intent
of which is the transfer of title by Borrower at a future dale to a purchaser.
If all or any part of the Property or lliry Interest in the Property is sold or tTllilsferrcd (or if Borrower is not a
natural person llild a benefícial interest in Borrower is sold or trllilSÍerred) \vit]¡out Lender's prior \Hillen consent,
Lender may require immediate pa)lllent in fulJ of all sums seclll"ed by this Security Instnunent. Ho\\e\'er, uris option
shall not be exercised by Lender if sllch exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The noLÏce shajj provide a
period of not less thllil 30 days from the date the notice is given in accordllilce with Section 15 within which Borrower
must pay all SLUns secmed by this Security InslTLUllent. If BorrOì\Cr fails to pay· these sums prior to the expiratIOn of
this period, Lender may invoke llilY remedies permitted by this Security Instrument \\ithuut further notice or del1lllild
on Borrower.
19. Borrower's Right to Ikinstate After Acceleration. if Bonower meets cerUun conditions, Borrower shall
have the right to have enforcement of this Seclll"ity 1nstnunent discontinued at llilY time prior lo the em'liest of: (a)
five days before sale of the Property pmsulli1! to llilY pO\\cr of sale contained in this Sc\.:urity Inslrument: (b) such
other period as Applicable La\\' nught specii)· for the tenl1lnation of Borrower's right to rt:Jl1stute~ or (c) enlry of a
judgmentenforcmg this Security 1nstrument. Those conditions arc thut BonO\\er: (a) pays Lender all Silins which
then ì\ould be due LUlder this Secmit)" Instrument and the J\ole as if no acceleration hue! occurred: (b) cures llilY default
of any other co\'enlli1!s or agreements; (c) pays all expenses incurrecl in enforcing this Secllrit\' Instrument, including;
but not limited to, reasonable illlorneys' fees, property Il1spection llildvalllation fees, and other fees incurred for the
purpose of protecting Lender's interest in the Property llild nghts under this SecLU-it) Instrument: llild (d) takes sllch
action as Lendcr may reasonably reqllire to assure that Lender's interest in the Property and rights lll1der lllh Security
Instrument, llild Borrower's obligation to pay the Sllms secmed by this Security lnslflllnent, shalJ continue unchanged
Lender may reqlllre Lhat Borrower pay such reinstatement slims ~md expenses in one or more of the fo]]O\\ing forms,
as selected by Lender: (a) cash; (b) money order; (c) certifìed check, bllilk check, lreusuIer' s check or cashier's checL
provided lliry such check is dra\\11 upon llil institution whose deposits are insllred by a Ú:dcral agency, instrumentality
or entity; or (d) EJectromc F wids Trllils1er. Upon reinstatement by B.Jrro\ver, tll1S Seclll"i ty lnslnunenl and obligations
secured hereby shall remain fu]]y eilective as if no accelemtion had oCCllned, However, this rIght to reinstate sha]]
not apply in the case of acceleration wlder Section I g
20. Sale of NOll:; Change of LOllil Senicer; Notice of CrienU1cc. The Note or a plli-Lial interest in the Note
(together with this Security InstnUllent) Cllil be sold one or more times without prior !10lh.:e to Boncmer. A sale 11ught
result in a chlliJge in the entily (known as the "LOllil Servicer") lhat collects PerIOdIC Payments due under the Note
llild tlús Seclll"ity Instnunent llild performs other mortgage loan senicing oblig,¡[ions under the NOle. this SeCllrity
InstnUllent, lliJd Applicable Law, There also might be one or more changes of the Lo,m Seniœr unrelated to a sale
of the Note 11' there is a chllilge of the LOllil Servicer, Borrower wiJl be given \\Tilten notice of the change \\ hldl wi]]
slate the nllille llild address of the new Loan ServiceL ¡he address to whicb payments shou1d be made llild an) other
in1'onnation RESPA reqlllres in cOlUleclion \\"ith a notice of transfer of servicll1g If the Nole is soJd lli1d thereaher
the Loan is serviced by a LOllil Senicer other lhllil the purchaser of the Note, the mortgagc IOllil servicing obligations
to Borrower wi]] remain with the LOllil Servicer or be lrlliJslcned to a successor Loan Seniœr ~ll1d ~u"C nol assumed
by the NOLe purchaser wlless otherwise pro\"Ìded by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be Jomed to any juclicial action (as either an individual
Iitigllirt or the member of a class) that arises Üomthe other p~U"ly' s actions purSUWlt lo lhis Securi ly Inslnllllcnl or that
alleges that tbe other party has breached llilY provision of, or llil\' duty Oì\cd by reason of, Llus Security Instrument,
until such Borrower or Lender has 110tifíed the other party (with such notice given in comp]¡wlcc with the requirements
of Section 15) of such alleged breach llild aJTorded the other ¡wly herelo a reasonable penod aJìer the givl11g of such
notice to lake correc,ti;v1 action, lf Applicable Law provides a time period \\l11ch must elapse before œrlam auion
Itm 00" In"",,, I clIr',;¡ í )
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VVYO'v1ING-Single Famil~Fannie Mae/Freddie Mac U~~IFCR¡'V1INSTRU~/18.JT - MffiS DocMagice."'-è·',~., 800-649-1362
Form 3051 1/0 í 1/ Page 10 of 1 3 www.docmagic.com
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can be taken, that time period \\1]] be deemed to be reasonable for purposes of this jJJragraph The notice of
acceleration and opportunity to cure given to BorrO\ver pursuant to SectIon 22 illld the notice of acceleration gIven
to BolTo\\'er pursuant to Section I S shall be deemed to satisj\ the notice and opporttmity to till;e corrccti Ie action
provisions of this Section 20,
21. Hazardous SubsÜUlœs, As used in this Section 21: (a) "Hazardous Substimces" are those Sllbstill1Ces
defined as toxic or hazardous SllbS(¡UlceS, pollutillJts, or wasles by Environmental Lmv and the iòllO\Ùng substances:
gasoline, kerosene, other flammable or toxic pelrolewn pEJc!uctS, toxic pesticides illld herbicides, \olutile so1vcnts.
materials containing asbestos or fonnaldehyde, and radioactive materials: (b) "EnvironmcnuJ Ll\\" meill1S fcdc:ral
laws and laws of the jurisdiction where the Property is located that relate to health, safety or en\lromnental protection:
(c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as aefined III
Enviromnental La\\'; and (d) an "Environmental Condition" means a condition that Cill1 cause, contribute to, or
othe1"\\lse tTigger ill) Environmental Cleanup,
Borrower shall not cause or pennit the presence, use, disposal, stor¡¡ge, or release of ill1} Hazill-dous Subsumces,
or threaten to release any Hazardous SubStilllceS, on or in the Property, Bomm-er shall not do, nor allO\\ illlvone else
to do, an)1hing aflecting the Property (a) that is in Holation of any Enviroumental Law, (b) which creates ill1
Euvirolill1ental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a
condition that adversely affects the value of the Property The preceding t\\'o sentences sha]] not upply to the
presence, use, or storage on the Property of small qllill)tities of Hazill'dous Substances that ill'e generalJy recognized
to be appropriate to normal residential uses and to maintenilllce of the Property (including, but not lunitcd to,
hazardous Substilllces in consumer products).
Borrower shall promptly give Lender \\Titlen notice of (a) any investigation, claim, demill1d, lawsuit or other
action by ill)Y govcrnmental orregulatory agency or pri vate Pill·ty imolving thc Propcrty ill1d ill)Y Bazm-cloLls Substill1CC
or Environmental Law of which Bonower has actual knowledge, (b) any En vironl1lental Condition, including bulnot
limited to,illlY spilling, leill;ing, discharge, release or tluCåt of release of ill1Y Hazardous SubslilllCC, ill1d (c) ill1)'
condition caused by the presence, use or release of a Hazardous Substance which adversely alTecls the nJuc of the
Property, If Borrower leams, or is notified by illl)'governmental or regulatory authority, or ill)Y pïi\ale pw·t)', that
illlY removal or other remediation of ill)Y Bazardolls SubStilllce allecting the ProperlY IS necessary, Borro\',er shall
promptly take all necessill")' remedial actions in accordill)ce \\lth EnvirolUllental Law, Nothing herein shall create illl)'
obligation on Lender for illl Environmental Cleill1Up.
NO~~-UNIFORM COVE/\JANTS, BolTo\\'er ill1d Lender further covenill1t and agree as follows
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to accderation following
Borrower's breach of any covenant or agreement in this Security Instrument (but not pri or to accderatio/l under
Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action
required to cure the default; (c) a date, not less than 30 days from the date the notice is gÎ\en to Borrower, by
which the default must he cured; wId (d) that failure to cure the default on or before the date specified in the
notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The
notice s!uùl further inform Borrower of the right to reinstate after acceleration and the right to hring a court
action to asseri the non-cxistence of a default or wly other defense of Borrower to acceleration and sale. If the
default is not cured on or before the date specified in the notice, Lender at its option may require immediate
payment in full of fùl sums secured by this Security Instrument without further demand wlll may illvoke the
power of sale and any other remedies permitted by ApplicalJle Lair. Lemler shall be entitled to [(¡Ileet all
expenses inLUrred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable
attorneys' fees and costs of title evidencc.
If Lender invokes the power of sale, Lemler shall give lIoticc of illtent to foreL!ose to Borrower and to the
person in possession of the })rope11y, if different, in accord~Ulce with Applicable Law. Lender sh~ùI gi \e notice
of the sale to Borrower in the mfUlner provided in Section 15. Lender shall publish the notice of sale, fwd the
Propeliy shall be sold in the mWlIler prescribed by Applicable Law. Lender or its designee may purchase the
Propeliy at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the
sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security
Instrument; and (c) any ~!ess to the person or persons legally entitled to it.
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WYOV1If\JG-Smgle amily-Fannie Mae! r,eddie Mac Uf-.JIFCRM INSTRUM8Jf - MffiS
Form 3051 1/01 / Page 11 of 13
B.,!1 U\\ èJ 111J[¡uls
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23. Release. Upon payment of aI] SLUns secured by t]lIS Security ]n~trumenL Lender shaH rdease this Security
InstTwnent. Borrower s]Hùl pay any recordJlion costs, Lender may chm-ge Borrower a fcc for releasmg this Security
InstTwnent, but only if the fee is paid to a t]urd party for services rendered mld the chargmg of the fee IS permitted
under Applicable Law_
2-t Waiœrs. Borrower re1eases and waives aI] rights under m1d by virtue of the homestead exemption Jaws
of Wyoming.
BY S]GNING BELOW, Borrower accepts and agrees to the tenus and covenants contmned in this Security
Instrument mld in any Rider executed by BoITO\\er and recorded with it.
/
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(Seal)
- Borrower
(Seal)
-Bon-ower
(Se,ù)
- Borrower
(Seal)
- Bono\\l;r
Witness:
-/~\v>(
Witness:
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VWOV1I~~G-Single Family-Fannie Mae/Freddie Mac U~~IFCRf\1 INSTRUiV18IT - fv1ERS
Form30S11/0í Page 12 of 13
DocMagic eAè¡":.:,:Z 80Q-ô49-13ô2
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\\\305 1. n1LJll Elan
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State of Wyonung
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COW1ty of LINCOLN
The foregoing lllstflllllent \Vas acknowledged before me bv l:jþRK E FÞDLKNER, liJFJ{'{
LOUISE FAULKNER
this 18th
day of
November, 2005
Witness my hand and official seal,
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Public
r:~f~:.IJOIAih' FûBUC
Ini(¡Fù~ ~;TAïE OF
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MY COMMISSION EXPlfìES SEPl EMiJl'R IS, 2007
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PENI~Y JON¿S
COUtHY OF
LINCOLN
Penny Jones
Print or Type NllilJe
(Seal )
Jvly C0l111111SS10n e\:lmes:
September 18, 2007
VWO'VlING-Single Family-Fannie Mae/Freddie Mac UNIFCRfvI I~JSTRUMB',JT - MERS
Form 3051 1/01 Page 13 of 13
DocMagic e:'-';;;C"L:':i;-~;;: 80Q-ô49-1362
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PLANNED L\'lT DE\'ELU.P1\lE2'<T ldDEE
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THIS FL"".:·1NED UNIT DEVELOPl', L~T loJ.uEK L ~:'2e ,his ~ ¿)'l'r.
JlId i:: llJ(;urpCri11tJ mlD awl "haL Dc Jc:e¡-;¡c;J W J.TLen:': arid :,upplcmtI11
::'c,'JJjI, Decd (the "Sc.:;urity Inslrulrxn¡") 0f Lilt: ','-'/lIt:: OJlé, :.!¡\::on me
èt:;:urc" bO;-]ll\\ ëf' l-\Olt 10 FIRST Ì'1.L.TIOl'U'2.. BJ:.-1'JI\ - \'JE3'!:'
aa:, ut r.UGUS'l' 20iJ':,
the i\!unga.:;c, Dc~J of TiU:,I, Gr
Llllder~i~!ltc (rhe "Burrl."\'/c'f", ) 1\
(Ihe 'L::[,d¡:;[") of 1l1è saIne dare and c0\'trilJg the hUpeT1)' ûC:ic.:nbclJ ll! 'J¡C St:d:TI\\' ]¡¡SllU!lltlil a¡¡d ;UC.i1cU ci'
173 CUSTER DRI\~, T~~~rŒ, WY 83127
[hop::,,:, .c,dû¡Ciij
jjj¡;' jJr'Jptrt.\ include:;, but is nùtlj nittd iu. '-' pared G¡Lind lmpL,\cJ \lll1'. a d\\dlin~. LJ~dll'; '.':j,h (,¡hc'f Sue;
p:..ul..:~L) ~::..~i CtTL'::'lIl COrnnilJfl ~r::;jS ~.:jJiJ í;.iciJ¡lJi::::. ~i':; JL:.:.;cnb~·j lIJ
DECL"-...F..Þ.TIOnS, COVENANTS, COlIDITIOI-E, J:.-!w RES7-".ICIIDl:.s
¡,[fie ·'Decbr:Ulon'.I. TÌlt Propen;. b a pé1n of" pL.mn:::LÌ unÌI û'cVe!u¡cwclir L'JU\\'fì .c
S Tld'. VJ:..lLEY RÞ.NC.H
[i<arnt 01 PL.:r1Dtò L'n:1 De\t:10pn:tnl]
lIÌ1:- ··j-JLT['·). "Tl¡~ }¡rllp~n;, Ldsu ir¡c]uuc':-; BLJITu\',cr:s jnLtrt51 J:ll!;c' iJlU}¡é',,:)\,,'ner.:; ZlSSDci~TiCJn or L"1Lll\'~]tlll erp.:rc>
U\<,J)lug or llli.l(.1:..:¡gll~g tLt CDIIL"nûn art3~ 3.2-Jd f~cili[jè;:: Ü}' the PLLj (rht ·\~)\,·:¡cr.s .~SSÜC1::'li0D~ ) ~lÙj lbc USè_"
[,endilS ,mu pr0cec:òè of BOrrO\\èr'S il1lèfè'r.
PUD C0VE~',:\NTS, In dJJlliun tl> rh' c,',vtJl'-'.1l1s JIJC1 :JgreerHt:IJLS ;n;.¡Je JI: ¡he Scc'u,¡l:'
lnètru[JJc':ll, BOITCJw'èr anJ l.tlldcr fI.TJJe'f CC1':cí1J.nL dflG '-igree ,ji !l'!lUI':,,:
A. l'UD Ubli;;;¡!¡uns. l!uHu\':êr shc:ll pèrlur:r¡ "ll ul Burru,','er" ubli;aljons '-IDOL: ¡he
PLD's Cun::;tlLUefJl DUCUmènIS, Tl¡e '·Cc,nSIJIutr.¡ Ü¡¡CUlnUliS" a:e OJC lkciar::riL\fJ, 111
iin.iL'lt.:~ Or ÜIl"Urp0f;.¡tiUf¡, ITlbl In.:;Lr'..lHJ~nl '-.If iiI1~-, c-q.Jl \,':ilClH dOCU(HèIH \ilulJI crè:'~::n;::) LÌ~l
CJ\\Tler:~ ...;..I...iSOC1.i.1Uun. a.IJd ~lii) 3LY D)"-lJ\\:; ur olLer rul:-:; C.il' r:-,gujalÜJIL1 uf lr-JI; C!\\'TH::r:.:
,.'..,:,~uClu\)LJ~i. Burroller sl13Jl prCJIllp¡ly j)J}. \IL:::!] due, all dUe ;'¡jJ ~bSc"irnc'n:, in,¡;u'.cJ
pU'SUJfJ! ;(, I!ie C:on:;1ÌrueflT v.XUÏ!jcmê,
[ìil.:LTJ2;T..-\-iE 1'liV JUlJI.l.:..-:)¡ngL: FJ;1ïjJy--i~JJujt Idal·/Fi-ulaiL: :~,i:I~' U~·dj-"lH~.\l F'S'il':'l'.\lL:""'-l
furw Jl~U 1,iUl
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B. Prop;;rt)' Iflsuran¡:e. So long ,jS the Owner;; AssoclJtion maintains, with i.J generall:
âccepb:J insurance: CalTler, u "m2Sler" or "hLmktt" policy insuring the Property which is
satisfEiClOry tll Lender and\vhicb pruvides insur,mct coverc.gein the amuwlts (induJing
deductible leveJs), lor the: periods, ,~nd against loss by ilre,hazZlrds included within the ttnl1
"exrended coverage," and any other j¡z¡zards, induding, but not lirnikJ to, e,mhquakes and
tlol)ds, for which Lenda requir;:s insur,mce, then: (i) L:nder waives the provision irl
Se.:licJf¡ 3 for the Periodic Payment tD Lender of ¡be )'tCirly premium inst~IIJmenls for properlY
insurance on ¡he Property; and (ii) BorrDwer's ohlig,.tion ullder Sec:tiof" to ;¡¡..intain propeny
insurance coverage on the: Pruperty is deemed sali,fied (() the e.\lent that tht: rtquj~ed
COH:rage is pr(lvided by the Owners AssDciation policy.
Wh.n Lender requires:Js a condition Dtthis \Va,Ve'r lun change during tbe term oCthe loan.
Burrower shäll give Lender prompt notice Dr any lapse in required pruper1.y insuranœ
co\"erage pruvided by the master or bbnket pojicy,
[n the event of a distributiJn uf pn>perty ìl1SLlr2nce proceeds in lieu of restoration or repair
follcJlving a loss to the Property, or to common areCJ.s and faci]ilies of the PUD, ,m)' prnteëûs
p..yable to BO!Tower are !Jereb;: ~Issigned and shaH lx' paid to Ltnder. Lender shall Jµpl;: the
proce;t'ds to the; sums stcureû by the Security lnstrum,lll, \,'bether or not then dut, with the
excess, if any, paid to Burrow.:T.
C. Public Liability Insurance. Borrower shall tab: s\lch aClions "s rnay be re..so:lJbk to
insure that the O\\ntrs ,.\sso(:iation maintains a public' li:¡biJity insur",nce pDlicy ,lclepti1blt in
form, amount, and extent of coverage to Lender.
D. Condemnation. enle proceeds of allY aWdrû or claim for damagts, d¡;eCl or
consequential, payahle to Borrower in CO¡¡ll.:ction \\"lth any condernnmioll ur uther tZlkir:g of
2111 or any p::u1 of tbe Property or the comll1c!n areåS i:md L¡cililies of tbe PL'D, or rUf ,Ill)'
convey<rrlce in lieu of condemnmion, art hereby dssignc:u and s¡¡cd] be paid to Lender. Such
proceeds sh,dl be applied by Lender to the sums secured by the Security Instrurnenl as
¡Jlovided in Section 11.
E. LCIH.1er's Prior Cunscnt. Burrower SllCi!l not, e:-:cept ,¡(itr notice lu Lender ,mJ II'lth
Lender's prior wrinen consent, "ither paniliun or subdividè tbe: Properly ur consent to (i) the
abJndollment or terrnimnion u[ tht' PUD, è'xcept for abundonmenl ur krmÜ1ation required by
1;11'.' in ¡he c,lse of substantial destruction hy ilr.: or other c",;ui:lIly or in the case of 21 t<¡king by
conJèlJ111atiolJ or eminent domain; (ii) 'HI)' :iITIt:nd¡nc:nt lu ar:y provision of the "Cul1stitu¡;nt
Documtms" if the provision is for the express benefit 01 Lender; (iii) tc:mlÌmtlOl1 uf
professional management ånd assumption of s¡;lr-JT¡~JI1agement of the OWl1trs Association; or
(iv) ,my action which '.vou]J have the tiled of lenderin~, the public li::;billlY insurance
coverage maintained by tÌle Owners Assoc'iation u[H1ccept3ble to Lt,;lIder.
f. HCllleùits, 1f Borrower does !Jol pay PUD c:ut,;s and assessments when Jut:, tber: Lendtr
may p"y them. Any amounts disbursed by Lender under this PJragraph F sluJl become
addition31 debt of Borrower secured by ¡he Stcuriry lnstrument. LJ nless B01Town and Lenon
agree to other tenns of payn;ent, thtse amount:; shall bear inttrest frum tlit date of
disbursement åt the Note ratt and shull bt payable, with interest, upon notice from Lender to
Borrower requtsting payment.
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