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Home My WebLink About914088 /, l..P ( ) ,pu /i\ K ,v ~ 11-- \ \\YJ051l.njg ( ',' i) 6 t) '.' ". ¿'"II After Recording Return To: ~~8NA VALLEY F.C.V. 4 HITCHING PO T DR LREEN RIVER, WY~~ING~93S oan Number: 29478 RECEIVED 12/1/2005 at 11 :05 AM RECEIVING # 914088 BOOK: 606 PAGE: 362 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Une For Recording Data] MORTGAGE DEFINITIONS Words used inlllulLiple sections of this doclUnent we defined below and other words are defined in Sections 3 II 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Seetio:1 16: (A) "Sccurity lnstnunent" means this document, which is dated NOVEMBER 23, 2005 , together with all Riders to this document. (ll) "Borrowcr" is KENNETH PETERSON AND MARY PETERSON HUSBAND AND WIFE AS TENANTS BY THE ENTIRTIES Borrower is the mortgagor under this Security Instnunent. (C) "Leuder" is TRO]\'!A. VALLEY F. C. U . Lender is a FEDERAL CREDIT UNION orgm1Îzed and existing under the laws of WYŒ'1ING Lender's address is 840 HITCHING pos'r DRIVE, GREEN RIVER, WYŒ'1ING 82935 Lender is the mortgagee under this Security Instrument. (D) "Notc" means the promissory note signed by Borrower and dated NOVEl,mER 23, 2005 The Note states that Borrower owes Lender TWENTY-FOUR THOUSAND AND 00/100 Dollars (U.S. $ 24,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments ¡Ulcl to pay the debt in full nollater than DECEMBER 1, 2015 (E) "Propcliy" means the property that is described belO\v under the heading "Transfer of Rights in the Properly." (F) "L01l11" means the debt evidenced by the Note, plus interest, an)' prepayment charges and late chm'ges due under the Note, ¡Uld all SUIllS due w1der this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security L1stnUl1ent that m'e executed by Borrower. The following Kiders m'e to be executed by Borrower [check box as applicable]: o Adjustable Rate Rider o Balloon Rider ¡¡¡ 1-4 Family Rider o Condominium Rider o PllliU1ed Unit Development Rider o Biweekly Payment luder o Second Home Rider o Olher(s) [specify] VWO'vlING-Single Family-Fannie MaeJFreddie Mac UNIFCRIVIINSTRUMENT Form 3051 1/01 Page 1 of 12 DocMagic ßJ\Qü!hJíA,;j 800-649-1362 www.docmagic.com .¿ - [, \? ~) J\ Ü::0'JL-""tOS8 {ì 0 ., 6 3 ',) j..i . (If) "Applicablc Law"lllcrulS all controlling applicable federal, statc amI local statutes, regulations, ordinrulces ruld adm~1Ístrative rules rulcl orders (that have the effect of law) as \vell as all applicable fin¡ù, non-appealable judicial opllllons. (I) "C?nununity Association Dues, yccs, and Assessmcnts" meruls all dues, fees, assessments ruld other charges that are Imposed on Borrower or the Property by a condominilUll association, homeowners association or similar orgrulÎwtion. (J) "Electronic Funds Transfer" meruls any tnmsfer of funds, other thrul a trrulsaction originated by check draft or similru' paper instrument, which is initiated through rul electronic terminal, telephonic instrument, compl:ter, 0; magnetic tape so as to order, instruct, or authorize a JiI1[Ulcial institution to debit or crcclit an account. Such term includes, but is not limited to, point-of-sale trrulsfers, automated tvller machine trrulsactions, lrrulsfers initiated by telephone, wire tnUlsfers, ruld automated cleru'inghouse trrulsfers. (K) "Escrow ltcms"meruls those items that are described in Section 3. (L) "jVlisccllaneous Proct..'Cds"meruls rulY compensation, settlement, awrud of drullages, or proceeds paid by any third party (other thrul insmrulce proceeds paid under the coverages described in SecLion 5) for: (i) drunagt: to, or destTllction of, the Property; (ii) condemnation or other taking of all or rul)' part of the Property; (iii) COI1\'CYWlce in lieu of condenmation; or (iv) misrepresentations of, or omissions as to, the value ruld/or condition of the Property. (1\1) "Mortgage Insurance" meruls insurrulce protecting lcnder against thc nonpaymcnt of, or default on, the Loan. (N) "l>criodic Paymcnt" meruls the regularly scheduled lU110unt due for (i) princip¡ù ruu.l interest under the Nott:, plus (ii) WlY ru1l0wJts Imder Section 3 of this Security Instrument. (0) "RESPA" means the Real Estate Settlement Procedw'es Act (12 U.S.c. §2601 et seq.) ruld its implementing regulation, Regulation X (24 C. F. R Part 3500), as they might be runcuded from time to timc, or any additiunal or successor legislation or regulation that governs the srulle subjcct matter. As used in ùlis Security Instrument, "RESP A" refers to all requirements ruld restrictions that we imposed in regru'd to a "federally related mortgage loan" even ¡fthe Lorul does not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrower" lileans rulY pw'ty that has t¡ù-:en title to the Property, whethcr or not that party has ass LUlled BolTower's obligations under the Note ruld/or this Security Instnullent. TRANSFER OF RIGHTS IN THE PROPERTY TIlls Security Instnunent secures to Lender: (i) the repayment of the LOW1, ruld ¡ùl renewals, extensions ruld moùiflcations of the Note; and (ii) the performance of &mower' s covenrults ruld agreements under this Security Instrument and the Note. For this pw'pose, BolTower does hercby mortgage, gnUlt ruld con vey to Lender wlcl Lender's successors and assigns, with power of sale, the follo\ving described property located in the COUNTY of LINCOLN [Type of Recording .huisdiction] [Nmœ of Recordi.ng JlUisdictiou] LOT 2013 IN STAR VALLEY RANCH RV PARK PLAT 1 SECOND FILING LINCOLN COUNTY WYOMING AS DESCRIBED ON THE OFFICAL PLAT THEREOF A.P.N. #: 3418Ó622201300 which cLUTently has the address of LOT 2013 STAR VALLEY PARK PLAT 1 [Street] STAR VALLEY [City] , Wyonllng 83127 [Zip Code] ("Propcrty Address"): WYCMING-Single Fall1i1y-fannie Mae/Freddie Mac UNIFœv1INSTRUMENT Form 3051 1/01 Page 2 of 12 DocMagicØMIi!JùI~ 800-6,19-1362 www.docmagic.com \\)j()512nig l~~ ~ßº ".,.. _" ,-¡ "C').-J ( j,":) ,. .~> H:.:.~J c..J 0 ... (\ (ì i', C '1 ',' \) j:~ u - TOGETHER WITH all the improvements now or hereafter erected on the property, ¡Uld all easements, appurten¡mces, and fixtures now or hereafter a part of the property. All replacements ¡U¡tI additions shall ¡ÙSO be covered by this Security InstnuJJenl. All of the foregoing is refcrred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is la\Vlìllly seised of the estate hereby conveyed anti has the right to mortgage, gnuÜ and convey the Property ¡Uld that the Property is lU1encumbered, except for encumbrance; of record. Borrower warrants and will defend generally the title to the Property against al1 claj¡JJs and dcmands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unifol1n covenants for nalÎonaluse ¡md non-uniform covenants with limited variations by jurisdiction to constitute a uniform seCl~rity instrumcnt covering re,ù property. UNIFORM COVENANTS. Borrower ¡md Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, l)repayment Charges, allll Late Charges. BoITower shall pay when due the principal of, and interest on, the debt evidenced by the Note and illlY prepayment chiU'gcs and late charges due under the Note. Borrower shall also pay fluIds for Escrow Hems pursuant to Seelion 3. Payments due under the Note iUld this Security InstnuJJent shall be made in U. S. CWTenc)'. However, if iUlY check or other inslnuJJent received by Lender as payment under the Nole or this Security Instrument is returned to Lender unpaid, Lender lllay require that illlY or all subsequent payments due under Ihe Note ¡Uld this Securitv Instrument bc made in one or more of the following forms, as selected by Lender: (a) cash; (b) money ortl.:;r; (c) certified check, biUÜ; check, treasurer's check or cashier's check, provided illlY such check is drawn upon iU1 institution whose deposits ill-e inslll'ed by a federal agency, instrumentality, or entity; or (d) Electronic FLUIds Trilllsfer. Payments are deemed receivcd by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordaHce with the notice provisions in Section 15. Lender may return illlY payment or partial payment if the payment or pill,tial payments are insufficient to bring the LOilll current. Lender may accept any payment or partial payment insu11ìcientto bring the LOrul clUTent, without waiver or any rights hereunder or prejudice to its righls to refuse such payment or pru'lÌal payments in the future, but Lender is not obligated to apply such payments at the time such payments ru'e accepted. If each Periodic Paymenl is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lemler may hold such unapplied funds until Borrower makes payment to bring the LOrul CU1Tent. If BorrO\ver does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied eru·lier, such ftulds will be applied lo the outstrulding principal balance under the Note immediately prior 10 foreclosure. No ofTset or claim which Borrower might have now or in the futme against Lender shall relieve Borrower from making payments due under the Note and this Security Instflul1ent or performing the covenru¡(s ru1d agreements secured by this Security Instrument. 2. Application of Payments or ProCl"cds. Except as otherwise described in this Section 2, all payments accepted ruld applied by Lender sluùl be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) rullounts due lll1der Section 3. Such payments shall be applied to each Periodic Payment in the order in which it becrulle due. Any rcmaining ml10unts shall be applied fIrst to late charges, second to mlY other mllOUllts due under this Secmity Instrument, mId then to reduce the principal balmlce of the Note. If Lender receives a payment from Borrowcr for a delinquent Periodic Payment which includes a suftícient runOlUlt to pay ru1)' late chru·ge due, the payment may be applied to the delinquent payment ¡UJd the late charge. If more t!¡¡m one Periodic Payment is outstm1ding, Leuder may apply any payment received from Borrower to the repayment of the Periodic Payments if, mId to the extenl that, each payment can be paid in full. To the extent that mw excess exists after the payment is applied 10 the full pa)'ment of one or more Periodic Payments, slIch excess may be- applied to rulY late charges due. VOltUl!ill)' prepayments shall be applied first to iU1Y prepayment chmges iUH.l thcn as described in the Note. An)' application of payments, insurance proceeùs, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or chiUlge the iUnOlUlt, of Ùle Periodic Payments. 3. Funds for Escrow Items. Bon-ower shall pay to Lender on the day Periodic Payments ru'c due under the Note IUltil Ùle Note is paid iu full, a stun (the "FlUIds") to provide for payment of mJJounts due for: (a) Ia.xes and asses~ments aud other items which C¡U1 aliain priorily over this Securily Instrument as a lien or cncuJllbrru1ce on the VVYCMING-Single Family-Fannie MaeJFreddie Mac UNIFCRM INSTRUMENT Form 3051 1/01 Page 3 of 12 DocMagic£.1J\Wlfuj 800-649-1362 www.c:kJcmagic.com \\)'30513.111g I k 'J. (J -e .~ (\ ~~ C\. )", . , ",,,' /. r,' ¡:.. :_';~-;"':;.' ., \1 .: Î'.): ,:'Jw...t¡' . ),_I,·'_·--.:;:....éICjU .n n ') 6· r)~ ¡ '. ,. I.. Propeliy; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for ¡my ¡me! all insunmce required b~' L~nder wlder Section 5; and (d) Mortgage InsuHmce prem.iums, if any, or any sums payable by Borrower to Len?er Illlteu of the payment of Mortgage Insurance premiwns in accordance with the provisions of Section 10. These Items are called ':E:crow Items." At origination or at.any time during the term of the Loan, Lender may require that ConUlllullty AssocIatIon Dues, Fees, and Assessments, If rulY, be escrowed by Borrower, and such dues, fees ruld assessments sha~1 be rul Escrow Item. Borrower shall promptly [urnish to Lcnder all notices o[ amounts to be paid under thIS SectIOn. Borrower shall pay Lender the Funds [or Escrow Items unless Lender waives Borrower's obligation to pay the Funds for rul)' or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds [or rulY or all Escrow Items at rulY time. Any such waiver may only be in writing. In the event o[ such waiver Borrower shall pay directly, when ruld where payable, the amowlls due [or any Escrow Items [or which payment ot' FIUlds has been waived by Lender ruld, if Lender requires, shall fumish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments ruld to provide receipts sl¡¡ùl for all purposes be deemed to be a covenrull ruld agreement contained in this Secw'ity Instrument, as Ùle phrase "covenwlt ruld agreement" is used in Section 9. If Borrower is obligated to pay Escrow Ilems direclly, pursuwlt to a waiver, and Borrower fails to pay the wnount due for rul Escrow Item, Lender may exercise its rights uncleI' Section 9 ruld pay such runowll ruld Borrower shall then be obligated under Section 9 to repay to Lender any such runonnt. Lender may revoke the waiver as to rulY or all Escrow Ilems at rulY time by a notice given in accordrulce witll Section 15 ruld, upon such revocation, Borrower sluùl pay to Lender all Funds, ruld in such runOlUlts, that ru'e then required under this Section 3. Lender may, at rulY time, collect ruld hold Funds in rul amount (a) sufficient to permit Lender to apply the Funds at the time specifted lmder RESP A, ruld (b) not to exceed the maximum wnount a lender CWI require under lŒSP A. Lender shall estimate the runount of FIUlds due on the basis of current dala wId reasonable estimates of expendilures of fuhU'e Escrow Items or otherwise in accordmlce with Applicable Law. The Funds shall be held in rul institution whose deposils ru'e insured by a fedcral agency, instrumentality, or entity (including Lender, if Lender is rul inslitution whose deposits ru'e so insured) or in mlY Federal Home Loan Bruù" Lender shall apply the Funds to pay the Escrow Items no laler thwl the time specified under RESP A. Lender shall not chm'ge Borrower for holding ruld applying the Funds, ruUlually mlalyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the FlUldsruld Applicable Law permits Lemler to make such a charge. Unless rul agreement is made in writing or Applicable Law requires interest to be paid on thc F IUlds, Lender shall not be required to pay BolTower rul)' inlerest or eru'nings on the Funds. Borrower wld Lender cml agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, wilhont charge, an ruumal accOlUlting of the Funds as required by RESPA. If there is a slU'jJlus of FlUlds held in escrow, as defined lUlder RESP A, Lender shall account to Borrower for the excess ftUlds in accordance with RESP A. If there is a shortage of F lUlds held in escrow, as defined wlder RESP A, Lender shall notify Borrower as required by RESP A, ruld Borrower shall pay to Lender the amount necessary to make up the shortage in accordmlcc with RESP A, but in no more thrul 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined IUlder RESP A, Lender shall notify Borrower as required by RESPA, wld Borrower shall pay to Lender the alllOlUlt necessru)' to malœ up the deficiency in accordance with RESP A, but in no more thrul 12 monthly payments. Upon pa)'ment in full of all sums secured by this Secmity Instll.unent, Lender shall promptly refund to Bon'ower anv F nnds held by Lender. - 4. Charges; Liens. Bon-ower shall pay all taxes, assessments, chru'ges, rUleS, ruld impositions attribulabJe to the Property which cml attain priority over this Security Inslll.Ullcnt, leaseh~ld payments or ground rents O~l the Property, if ¡my, ruld Community Association Dues, Fees, ruld :"ssc~sment~, i[ rulY· To thc ex.tenllhal these ¡[ems ru'e Escrow Items Bol1'ower shall pay them in the mruUler provided m SectIOn 3. Borrower sl~all promptly discharge rulY lien wlùch has priority over this Secnrity Instrument unless Borrower: (a) agrees in writing to the paymcnt of the obligation seemed by the licn i.n a mruUlcr ac~~ptable to Lender, but n.nly so long as Borrower is perfol111ing such agreement; (b) contests the hen III good imth by, or defends ag¡U~lst enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the elúorcemcnt of thc hcn while those proceedings are pending, but only until snch proceedings ru'e conch~ded; or (c) secures from th,e holder of the lien rul agreement satisfactory to Lender suborduHltlng the hen .to tl~IS. SecUrIty I.nstllllllenl. Ii Lender determines that rul)' pw't of the Properly is subject to a lien which CWl a!tam pnonty over tillS SecUrIty Instrument, WYOV1ING-Sinc¡le Family-Fannie Mae/Freddie Mac UNIFCRM INSTRUMENT Form 3051 1/01 Page 4 of 12 DocMagic ß¡'§llIfJíJ&'j 800-649,1362 www.ckxmagic.com Wy3051lnjg \3 50\S f >Jt ,.. .' J,._t:jr--'¡("I , :.; .ct -, ~··ì t"~ ~ r. ....' i r.,.;> ~j,~"~'."-'_:; L} '!lO::}6G Lender lIlay give ~lTower.a notice identifying the lien. Wi~hin 10 days of the date on which thalnoticc is given, Borrower shall salisfy the hen or take one or more of the actions set forth above in this Section 4. Lender lllay require Borrower to pay a one-time charge [or a real estate tax verification ¡Uldlor reporting service used by Lender in cOllllcdion with this LmUl. S. Propcrty Insunmcc. Borrower shall keep the improvements now existing or hereaCter erected on the ~ropel:ty insmed ag.ail~st loss by fire, hazards included wÍlhin the teon "extended coverage," and any other hazÆds ll1cllldl~lg, b.ut not I1I111ted to, earthquakes and Hoods, for which Lender requires insmance. J11Ís insunmce shall be ma1l1.tillned m the ill110unts (Í1~cluding deductible lcvels) wid for the periods that Lcnder requires. What Lcnder req~ures plu'sumlt to the precedll1g sentences cml change during the term of the LmUl. The insufilllce cillTier providing the lllSurilllC~ shall be chosen by I30rrower subject .to Lender's riglll to disapprove Borrower's choice, which r ighl shall not be exercIsed lUlreasonably. Lender may reqUIre Borrower to pay, in conncction with this Loan, either: (a) a one- time charge for Hood wne determination, ccrti1ícation illld tracking services; or (b) a one-time charge for flood wne determination illld certilìeation services [md subsequent charges each time remappings or similar clHUlges occur which reasonably might affect such determination or certification. I30rrower shall also LJe responsible for the payment of mlY fees nnposed by the Federal Emergency tvhmagc1Jlent Agency in connccliùn with the review of WlY Good zone determination resulting from WI objection by Borrower. If Borrower fails to maintain WIY of the coverages described above, Lender may obtain insunUlce coverage, at Lender's option WId Borrower's expense. Lender is under no obligalion to purchase WIY particuhu' type or mllount of coverage. Therefore, such coverage shall cover Lemler, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against <lilY risk, haz.ard or liabilily and might provide greater or lesser coverage thwI was previously in eITect. Borrower acknowledges that the cost of the il1sUHUlCC coverage so oblfúned might signi1ícwltly exceed !lIe cost of insurance lhat Borrower could have obtained. Any wnounts disburscd by Lender under this Section 5 shall become additional debt of Bonowcr secured by this Security Instrument. These wnounts shall bear interest at the Note rate from the date of disbursement wId shall be payaLJle, with such interest, upon notice from Lender to BorrO\\ cr requesting payment. All insmance policies required by Lender illld renewals of sllch policies shall be subject to Lender's right to disapprove such policies, shall include a StWldill'd mortgage clause, illld shall name Lender as mortgagee wId/or as an additional loss payee. Lender shall have the right to hold the policies wid renewal certilìcates. If Lemler requires, ßolTower shall promptly give to Lender all receipts of paid premiums wid renewal notices. If Borrower obtains W1Y form of insurwlce coverage, not otherwise required by Lender, for dwnage to, or destruction of, the Properly,' such policy shall include a st¡mdm'd mortgage clause ill1d shallnwne Lender as mortgagee ¡UId/or as ml additiomù loss payee. In the event ofloss, Borrower shall give prompt notice to the insurwlce cWTier wld Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, WlY insunmce proceeds, whether or not the underlying insur<Ulce was required by I ,ender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible mid Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportlUlity to inspect sllch Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shaH be undertaken promptly. Lender lUay disburse proceeds for the repairs cmd restoration in a single payment or in a series of pro/!,ress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower illlY interest or eill'nings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds ¡md shall be tile sole oLJligatiou of Borrmver. If the restoration or repair is nul economically feasiLJle or Lemkr' s security would be lessened, the insunUlce proceeds shall be applied to the smns secured by this Securily Instnunent, whelher or nollhen due, ,lith the excess, if WI)', paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrowcr abwldons thc Property, Lendcr may lìle, negotiate and scttle WlY availaLJle insurwlcc claim ~md related matters. if Borrower does not respond within 30 days to a notice from Lender that tlle insrLnUlcc cmTier has offered to seltle a claim, then Lender may negotiate wId settle the claim. The 30-day period willLJegin when the notice is given. In either event, or if Lender acquires the Property llllder Section 22 or otherwise,Borrower hereby assigns to Lender (a) Borrower's rights to WiY insurance proceeds in cUI wn?uulnOI to exceed th~ <unounts Hnpmd lUlder the Note or this Security Instrument, and (b) illlY other of Borrower's nghts (other than the fight to WlY ref lInd Wfav1ING-Single Family-Fannie Mae/Freddie Mac UN I FŒ<N1 INSTRUMENT Fonn 3051 1/01 Page 5 of 12 DocMagic eNil1JiíDi.'i 800,649,1362 www.ebemagie.com \\Y30S15."'g t~5 )~ I i ~L ;; lil :,"C:~::¡ ~ ..-.¿ '\.1.1 I..-J "-...6 ,'. n ('\ '... 6 1"7 ',) \) ,,", o~ lU1ear~ned premiums p¡úd by Borrower) under all insurance polici.es covering the Property, insofar as such rights are applIcable to the coverage of the Property. Lender n~ay use the lJlsurance proceeds either to repair or restore the Property or to pay llillOlU1tS unpllid under the Note or tIllS Security Instnullent, \vhethcr or not then due, . .6. Occupancy. Borro~ver shal! occup~', establish, llile! use the Property as Borrower's principal residence WI,tlll~l 60 da~s after the execution of tIllS SeclU1ty Instrument ,md slHùl continue to occupy the Property as Borrower's prlllclpal residence for at least one y~ar after the date of oceup¡mcy, :lI1less Lender otherwise agrees in writing, which consent shall not be tUu'easonably wltlùleld, or unless extenuatmg circumstances exist which are beyond Borrower's control. 7. Prescrvation, l\1aiutcníUlcc and Protcction of the Property; Inspedions. Borrower shall not destroy dllillage or impair the Property, allow the Property to deteriorate or commit waste on the Property, Whethcr or n~~ Borrower is residing in the Property, Borroyver shall maintain the Property in order to prevent the Properly Üom deterior.atin?> or decreasing in value due to its condition. Unless it is determined pursullilt to Section S that repair or restoratIOn IS not econonllcally feasible, &)ITower shall promptly repair the Property if damaged to avoid further deterioration or dllinage. If insunUlce or condemnation proceeds cu'e paid in connection with dmnage to, or the taking of, the Property, Bonower shall be responsible [or repairing or restoring the Property only if Lender has released proceeds for such purposes, Lender may disburse proceeds for the repairs ¡md restoration in a single payment or in a series of progress payments as the vvork is cowpleted. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may wake reasonable entries upon culd inspeclions of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall gi ve Borrower notice allhe time of or prior to such llil interior inspection specifying stich reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loml application process, Borrower or llilY persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave maferially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the LOllil, Material representations include, but <u'e not limited to, representations concerning Borrower's OCCUP<U1CY of the Property as Borrower's principal residence, 9. Protection of Lemler's Iuterest iu thc Propeli)' and Rights Uudel' this Security Instrumcnt. If (a) Borrower fails to perform the covenilllls culd agreemenls contained in this Security Instrument, (b) there is a legal proceeding that might significrullly affect Lender's interest in the Property WId/or rights under this Security Instnunent (such as a proceeding in b¡mkmptey, probate, for COndelllllation or forfeiture, for cnforcement of a lien which may attain priority over this Security Instrument or to enforce laws 91' regulations), or (c) Borrower has abmldoned the Property, then Lender may do culd pay for whatever is reasonable or appropriate to protect Lcnder's interest in lhe Property ¡md rights tUlder this Security Instnunent, including protecting culd/or assessing the value of the Property, ¡md securing llildJor repairing the Property. Lender's actions c¡m incJude, but are not limited to: (a) paying illlY stuns secured by a lien which has priority over this Security Instrument; (b) appelli-ing in court; mId (c) paying reasonable attomeys' fees to protect its interest in the Properly llild/or rights under this Secmity Instrument, including ils secmed position in a bcu1kruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, chllilge locks, replace or bOlli'd up doors ruld \\~ndows, drain water lÌ'om pipes, eliminate building or other code violations or dllilgerous conditions, ¡md have utilities turned on or off Although Lender may talœ action under this Section 9, Lender does not have to do so llild is not lmder ¡my duty or obligation to do so. It is agreed that Lender incurs no liability for not tal·;Îng mil' or all aclions auÙlOriz.ed under this Section 9. Any lliuounts disbmsed by Lender lmder this Seclion 9 shall become additional dcbt of BoITower secured by this Security'Instnuuent. These llinounts shall bem' interest at the Note rate fr~m the dale of disbursement culd sh¡ùl be payable, with such interest, upon notice from Lender to Borrower requestll1g payment. . , ' If this Securitv Instrument is on a leasehold, Borrower shall comply wllh all the provISIOns of the lcase. 11 Borrower acquires ice title to the Propcrty, the leasehold culd tllc fee tille sI¡¡ùl not merge uuless Lender agrees to the merger in writing. ' . . 10. Mortgage InSUl1UlCC. If Lender required Mortgage Insunmc~ as a ~omhtlOn of makll1g the LOCU1, Borrower shall pay the premilUlls required to maintain the Mortgage Insunmce U1 eflect: If, for arlY re.ason, the ~10rtgage Insurance coverage required by Lender ceases to be avmlablc [¡-,om the mortgage I11surer that prevlO.llsly provIded such Ìllslu'mlce illld Borrower was required to make seplli,¡tely desIgnated payments toward the premllul1s for Mortgage VVYav1ING-Single Family-Fannie Mae/Freddie Mac UNIRRM INSTRUMENT Form 3051 1/01 Page 6 of 12 DocMagíc ßNI7ù= 800,649-1362 www.docmagic,rom \\\'.10516.011g .~ 11t 1-~ \i J :.-'--:.~ _·~\-"<~t(~jtJ8 :~ n n .~ l-:' 8 >../ ...J\..I...."'u InslU,Ulce, Bor:ower ~hall..yay the premiums re(~uinxlto .obtain coverage subslru1tially equivalcnt to the !Vlorlgage Insm:ru1cc p~'evlOusly 1I1 eJlect, at a cost substantl~lly equivalent to th~ cost to BolTower of the Morlgage Imurancc prevJOusly 1I1 effect~ [1'0111 ru1. alternale mortgage JI1smer selected by Lender. If substantially equivalent !vlortgage InSllfru1ce coverage IS not avml(1bl~, Borrower shall contJl1ue to pay to Lender the runoullt oflhe sepru'atcly designated payments that were due when the II1SUHUlCC cuverage ceased to be in effect. Lender will accept, use ru1d retain these payments as a non-refundable loss reserve in liell of t'vlorlgage InsllnUlce. Such loss reserve shall be non-refundable notwilhstru1ding the faclthat the Loan is ultimately paid in full, ruld Lender sh¡ùl not be requircd to pay Borrower an; mterest or eanllngs on sllch loss reserve. Lender can no lcnger require loss rescrve payments if Mortgage Insurance coverage (in the mnount m1d for thc period that Lender requires) provided by ¡UI insurer selected by Lender a"ain becomes available, is obtained, m1d Lender requires separately designated payments towru'd ù¡e premiumsD for Mortgage Insurm1ce. If Lender required Mortgage Insurm1cc as a condition of making the Lom1 ¡md Borrower was lequired to make sepm'ateIy designated payments towlli'd the premiums for Mortgage Insmru1ce. Borrower shall pay the premiums required to maintain Mortgage IllSllnmce in dIect, or to provide a non-refundable loss reserve until Lender's requirement for Mortgage Insurru1ce ends in accord¡Ulce with any wrilten agreement between Borrow~r ¡Uld Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 1 () a1Tecls Borrower's obligation to pay interest atlhe rale provided in the Nole. Mortgage Insurrulce reimburses Lender (or rulY entity that purchases the Nole) for cerlain losses it may incur if Bon'ower does nol repay the Loan as agreed. Borrower is not a party to the Morlgage Insurru1ce. Mortgage insmers evaluate their total risk on all such insurru1ce in force from time to time, and may enter into agreements with other pru'ties that shru'e or modify their risk, or reduce losses. These agreemenls are on terms and conditions that m'e satisfactory to the morlgage insurer ¡UJd the olhcr pm·ty (or pm"ties) to these agreemenls. These agreements lllay require the mortgage insurer to malœ payments using m1Y source of funds lhat the mortgage iusmer may have av¡úlable (which may include flUIds obtained ÍÌ'om I\Iorlgage Insurru1ce premiums). As a result of these agreements, Lender, m1Y purchaser of the Note, m10ther insurer, any reinsurer, any other entity, or m1Y affiliate of m1Y of the foregoing, may receive (directly or indirectly) al1lOlUlts that cieri ve from (or might be chru'acteriz.ed as) a portion of Borrower' s payments for t\10rtgagc Insurm1ce, in exchru1ge for sharing or modifying the morlgage insurer's risk, or reducing losses. If snch agreement providcs that an aO'iliate of Lender takes a shru'e of the insurer's risk in exchru1ge for a sluu'e of the premiums paid to the insurer, the mTmlgement is ortcn termed "captive reinsurm1ce." Fmther: (a) Any such agreements will Jlot affect the amounts that Borrower has agn,'CtI to pay for 1V10rtgage Insuram:e, or ¡my other terms of the Loan. Such agreements will Jlot increase the amount Borrower will owe for Mortgage ùlsurancc, anti tl1ey will not entitle Borrower to any refund. (u) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurancc under the Homeowners Protectioll Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request alld outain cancellation of the Mortgage Iusurancc, to havc the Mortgage lnsunulcc terminated automatically, amll or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such c¡mcellation or termination. 11. Assignment of Miscellancous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to m1d shall be paid to Lender. If the Property is dmnaged, such Miscellru1eous Procceds shall bc applied to restoration or repair of the Propcrty, if the restoration or repair is economically feasible ru1(! Lemler' 5 security is notlcssened. During such repai r ¡Uld restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had ml opportunity (0 inspect such Property to ensure the work has been comple~cd to Lender' s. sat!sfac~ion, pl:ovided tbat such inspection shall be lU1dertalœn promptly. Lemler may pay for the rcprurs w1d res.toratlOn.1I1 a sll~gle disbursement or ill a series of progress payments as [hc work is completed. Unless ru1 agreement IS made. 111 wntll1g or Appltcable Law requires interesl to be paid on such Miscellru1eous Proceeds, Len~er sh¡ùl not b~ reqUIred to p.ay BorrO\~er ¡my inlerest or em-nings on such Miscellw1eolls Proceeds. If the restoratIOn or ~epmr IS nol economIcally f.easible or Lender's security would be lessened, the Misccllwleou~ Proceed~ shall be appllCd t? the Sl~US seellfed by tlus Secnnty Instnunent, whether or not then due, with the excess, if ru1Y, pald to Borrower. Such M1scellru1eous Proceeds shall be applied in the ordcr provided for in Section 2. VVYOV1ING-Single Family-Fannie Mae/Freddie Mac UNIFCRJII1 INSTRUMENT Form 3051 1/01 Page 7 of 12 DocMagic efJiiWIJiiiJ&j 800,649,1362 www.ckxmagic.com \\YJl.)jl7.ntg # r I~\i 1-;:'1 ~~-~, ~j '-~"1...J. '-.JO (\'ì"'69 ' ) \ , ,;' '.. ~. \~ ,-.J . In the evelll of ulolal ud,jng, destl1lclion, or loss in value of the Property, the MiscclliUleous Proceeds shall be applied to the ,lUUS secured by this Security Instrument, whether or not then due, wilh the excess, if iU1Y, paid to I3orrower. In the c.vent of a piU,tia~ taking, de~truction, or loss in valllc of lhe Property in which the ÙUf markct value of the Property l!lulH.xhately belore thc piU·tud taking, destruction, or loss in value is cqU¡Ù to or grealer than the mnouut of the sums secured by this Securil~' luSlrulll~lll immediately before the pw-tial Ud,ing, destructiou, or loss iu vallie, tUlIess Bono\\'cr ¡md Lender othcnVlse agrec 111 wlltlug, the slIlns secured by this Security fuslrument shall ue reduc:cd uy the wnoun( of the Miscell,meous Proceeds Illultiplied by the folluwing (i-action: (a) tllC lolal wnoullt or the SllllJS secured immediately before lhe partial taking, destruction, or loss in value divided by (b) lhe fair l1lmkel valut.: of the Property immediately before the pmtial taking, destruction, or loss in valne. Auy balance shall be paid lo Borrower. In the event of a partial taking, destruction, or loss in v,ùue of the Property in which thc fair market value of the Property immediately before the partial taking, destruction, or loss in value is less LlHm the amount of the sums secured immediately before the partÎ¡ù taking, destruction, or loss in v,ùue, unless Bonower ¡Uld Lender otherwise agree in writing, the Miscellw1eous Pruœeds shall be applied to the sums secured by this Security Instrument whether or not the SUlUS are then due. lfthe Property is ab,Uldoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as dcfíned in the next sentence) offers to make an award to sellle a claim for damages, Borrower fails to respond to Lender within 30 days alkr the date the notice is given, Lender is autllOrized to collect ¡Uld apply the Misœll¡Ulcous Proceeds either to restoration or repair of the Property or to the sums sccured by this Security Instnllllcnl, \vhether or not then due. "Opposing Pm·ty" meW1S the third pcu·ty that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to MiscellmlCous Proceeds. Borrower shall be in default if W1Y aclion or proceeding, whelher civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest inlhe Property or rights under this Security Instnuuenl. Borrower CW1 cure such a default ¡Uld, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's inlerest in the Properly or rights under this Secmity Instnulleut. The proceeds of ¡UIY award or claim for diUnages that are allributable 10 the impairment of Lender's interest in the Property cu'e hereby assigned wlcl shall be paid to Lender. Alll'v1iscell,Ulcous Proceeds that are not applied [0 restoratioll or repair of the Properly shall be applied iu the order provided for in Section 2. 12. Burruwer Not Released¡ Forbearance By Lender Nut a Waiver. ExteJlsion of the time for payment or modilicalion of iUuorLÌzation of the StilUS secured by this Security Instnul1ent grante<l by Lender to Borrower or mlY Successor in Interest of Borrower sluùl not operate to release the liability of Borrower or WlY Successors ill Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Intcrest of Borrower or 10 refuse to extend time for payment or otherwise modify cuuortization of the SlllUS secured by this Security Instrument by reason of [my demiUld made by the original Borrower Dr ¡my Successors iu Inlerest of Borrower. Any forbecu'[Ulcc by Lemler in exercising any right or remedy including, without limitation, Lender's acceplwlCC of payments from third persons, entities or Successors in Interest of Dorrower or in ¿ullounls less th,m the iUnount then due, sludl not be a waiver of or preclude the exercise of CU1Y right or remedy. 13. Joint Hnd Scveral Liahility; Cu-signcrs; Sucœssurs and Assigns Bound. Borrower covenwlls and agrees that Borrower's obligations [md liability shall be joint ¡md several. However, ,my BoITower who co-signs this Security Llstnullent but does not execute the Note (a "co-signer"): (a) is co-signing this SeclU'ity Instrumcnt ouly to mortgage, gnmt culd convey the co-signer's interest in the Property undcr the lenJls of this Security Instrument; (b) is Jlot personally obligated to pay the Sluns secured by this Seclll'ity Instnlmel~t; lmd.(c) agrees that Lcmler ~nd WlY other Borrower CWl agree to extend, modify, forbear or make CU1Y accommodations with regard to thc terms 01 Lllls Secllnty InstnulIcnt or the Note without the co-signer' s conscnl. Subject to the provisions of Section 18, WlY Successor in Interest of Borrowcr who assumes BonolVer's obligations lUlder this Security Instnul1ent in wriling, iUld is approved by Lender, shall obt~n ,ùl of I30rrower' ~ ri¥hts w1d benefits lU1der this Seclll'ity Instrument. Borrower shall not be released from Borrower s obligatIOns culd lIablll!y under this Secw'ity Inslnunent unless Lender agrees to such release in writing. The covenwlls iU1d agreements of this Security Instrument shall bind (except as provided in Section 20) and benefìtthe successors and assigns of Lender. \NYCMING-Single Family-Fannie Mae/Freddie Mac UNIFCRIVIINSTRUMENT Form 3051 1/01 P'dge 8 of 12 DocMagic efuú1M~:¡ 600649,1362 www.docnJagic.com \\\'.J0518I1tg \0 J\~J Ì\ :yf ".,i " ~'. ;",' (.~¡ .·-'!~PUU .. r~J U~ , ':) 0 'j l 14. ,Luan Charges. ..Lcl1lk:r ma)' ckugc Borrower fccs I'm services performed in cOttllcelion wilh nnrro\\'er's default, lor lht; purpo.se 01 prolecllllg ,L~lldcr' s Inlerest I!I lh~: Property will rights lIillkr lhis SeclIlity Imlrllmcnt, lllclucllllg, bul nol I IIIJI led tu, atlollleys kcs, prupcrty Jnspèclll\ll alld v¡J!lIaliun fees. I!I r(;l'ard I" :Ul\' other Ic"s It 0 I .... I···· I· S. . . .. . ~ J ç, It: a ¡senee 01 express allt wnl)' nil liS , eClIrlly Inslrllmellllu dl:uge a spc:cilíc fee (u Borrowcr shall !lul bc cUllslrlled as a prohibition on the charging of sllch fee. Lender may !lot charge fees lhat arc expressly prohibited by lhis Sel:mily Justrumcl1l or by Applicable Law. If the LOilll is subject to a law which sets ma\inHIIH loall chwges, alld thai law is flllally inlerprded so lhatlhc interesl ur other loan charges collected or to be collected in cUllnediou with the LOlUI cxcccd the permitled limits, then: (a) [my such !lHm chluge shttll be reduced by llie IUJhHll1t l1eZ'CSSlUY to reduce the chlUge 10 lhe: permilted limil [Ule! (b) any SUillS already collected lÌ'lHll Borrower which exccükd permill.:L! limits will be relì.\lllkd to Llorrull<:'/ Lender nUY clloùse Iu make (his rHund by reducing lhe principal uwed under the Note or by making a direct payment to 13orruwer. If a refund reduc'¡;s princip.ù, Ihe r¡;t!uclion II ill be lrealed as a p,Œlial prepayment wilhOlll allY prepayment charge (whether or not a prepayment charge is pJlJviduJ for ullder lhe Nole) Borrower's acccpl<U\CC of an)' such rerund made by direct pa)'mcnllo BorlOwer will constitute a waiver uf auy right or acliUllllorro\\er mÙ¡ht have w'ising out uf such overchru·ge. '" 15. NotiL'ts. AlInotiecs g.il·cn by BarlOwer or Lender in connection with this Security l11stnlJllcnt musl be in wriling. Any notice (0 Borrower in c\'!lllccliull lIilh this Secllrily Inslrumenl sh:ùl be lkc!Ilc,llu havc kCll l,il'CII 10 Borrower when mailed by lirst class mail or when .¡,:lllally delivered 10 BUIJOI\(;r' s noticc address ir SCllt by "ther mc.ms. Notice to anyone Borrower shall conslitule nuliœ to ,¡II Borrowers uul,~ss Applicable Law e·'IJlcssly I L!jllirl~s otherwise. The notice mldress shall be the Properly Address unless ßorw\I'l:r has dcsignalell a sllbslilllk nul iœ address uy notice to Lemler. Borrower shall prl\luplly IloliCy Lcnder of Borrower's changt: 01' ¡tddress. If Lemlcr specifies a procedure for reporting, Borrower's changc of addn::ss, thcn Borrol\'cr shall only report a change or address through that specified procedure. Thcrc may be only one designated Ilotice address under this Sccurity Instrultlcnt at any unc time. Any nOlice tu Lender shall be g,ivcn by dl·liv,rillg il or by mailing, it by lirsl class iliad tu Lcnder's address staled herl:.inllnlcss Lender has designalc:d ¡uwlhc:r address by nut ice tu Borro\\er. 1\ny noliœ in connection wilh this Sccurity Instrument shall nut lx, dœmcd [0 hale been g,i \lTI to Lcnder unlil actually rc\:ci vcd by Lemler. If any nolice required by lhis Security Inslrumcnt is also required lUllkr Applicable Lilli', the ApplieaLk Law requiremcnt will salisl'y the corresponding requiremcnt unLlcr this Sccurity Instrumcnt. 16. Goycl1ling La\\'; Sc\cralJility; Hutcs of Construclion. This Security Instrumellt shall be g,overnèd by federal law and lhe lal\' of the jurisdiction in \\hidl the Property is located. All rights and oblig.aliuw; conlained m this ScclIrily Instrument are subjeclto WlY rcqllirellJellts and limitations of Applicable Law. l\pplicabk Lall' might explicitly or implicitly a\low lhe ¡wties lu agll'C by contract or it mighl be sIlcnt, bill such silellcc shall nol be conslrued as a prohibition against ag,reenlent by contlacl. In lhe eVl'utlhal any provision ur clallse of II liS Securily Jnstrumenl or the ljole conniels Wilh Applicable Law, such conl1icl shall not alTect othcr plOvisiolls of lhts Security Instrument or the Nole which can bc gi ven effcctl\'ilhoul the conl1icling provision. As used in this Security Instrument: (a) words of the nl<lsclIline gUllle'r shall meall alld illclude cOITespunding lIeule:r words or words of [he feminine gender; (b) wurds in the singular shall mew I ¡uld mclude tk plllral and vice versa; and (c) the word "may" gives sole discrelion without W1Y ubligaliun to take any aelion. 17. Burrower's Copy. Borrower slnùl be g.i VCIl aile cupy of the Nl)lc wld of this Security InstrumenL If). Transfl:r of lhl: Propcrty or a lkneficiallntl:rcst in Borro\\'er. As uscd in lhis Sectiun I ö, "llIterest in the Property" means WlY legal or bellcJlcial inlerest in the Prùperty, including, IJulnot limited lo, lhu:ic 1>L,nclícinl interests transfcrred in a bond for deed, contracl fur deed, installment sules contracl or escrow ngrccmcnl, the intcnt of which is the trallsCer of tille by Borrower al a future date 10 a purchaser. If all or any pillt of [he Properly or WIY Interest in the Pruperty is sold or transferred (ur if Botlowcr is nul a nalural person ¡Uld a benciícial interest in Borrower is sold or lransfen~ed) wilhout Lender's prior wrilten conse.nl, Lcnder may require immediate paymenl in fllll or all sums securtLI by lhls Seeunly InstrumenL HU\\'CI'lr, 11us opllon shall not b~ exerciscd by Lendcr if sllch exercise is prohibiled Ly Applicnblc Law, If Lender exercises lhis option, Lender shall give ßonù\lcr notice oC accelerulion. The notice shall prulide a JeriOll or nolless (h,UI 30 days lì'um [hc dale lhc nulicc is gi \Tn in accordanœ with Section 15 within which Borruwer :nnst pay alt SUIllS secured by this SeclIrity InstnnnenL If ßorro:vcr fuds to pay lhese sums p.rim 10 tht:. cxpiralion or this period, Lender may invoke :Uly remedies pcnllltl<::d by tIns Se¡;Uflty JIIsli UlJ\cul wllltulIt nrltler uOIJCC or dem<lml on Borrower. WYUAlllG-Sinyla Family-Fannie Mae/FI eddie Mac UIIIF-<;RIV\ )~IST~~UM8~T Form 3051 1/01 I ¿¡:Ie CJ vI \ 2 DocM¡¡gic L'1fÎ,u1fJ16i 800649,1362 WWIV. clccn )dgic cüm 11\'.10519. II Ig () 9J /~ 1 J,kJ ...~.r~~:,~j/88 ,r'" (\ () :~ 7 1 '" ,) v 19. ßorrowcr's Right (0 Rcinstatc After Accelcratioll. If BoITower meets certain conùitions Borrower shall have the right to have enforcement of this Security Instrument disco'ntinueù at illlY time prior to the e~'liest of: (a) fi ve day.s before sa~e of the Prop,crty pllI~LHm,t to illlY po~ver. of sale contained in this SecllIity Instnunent; (b) such other perIod.as Ap'phcabl~ Law might spec~y tor the t~I:mmatlon of Borrower' s right to reinstate; or (c) entl)' of ajudgment enforcIng thIS SecurIty Instrument. 1 hose conchtIons w'e that Borrower: (a) pays Lender all sums which then would be due lmeler this Security Instnunent illld the Note as if no acceleration had occurred; (b) cures illlY def\1ldt of illlY othe~ covenants or agreements; (c) pays all expenses. incLUTed in enforcing tlùs Security Instrument, including, but not hnllted to, reasonable attorneys' fees, property InspectIOn illld valuation fees, and other fees incurred for the purpose of prolecting Lendcr' s interest in the Property illld righls uncleI' this Sccurity Instmment; illld (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property illlcl rights uncleI' this Security Instrument, and Borrower's obligation to pay the Sluns secLU'ed by this Security Instrument, shall continue unchilllged. Lender may require thaI Borrower pay such reinstatement slims llild expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, billlk check, treasurer's check or cashier's check, provided illlY such check is drawn upon WI institution whose deposits are insllIed by a fedenù agency, instrwnentality or enlity; or (d) Electronic funds Transfer. Upon reinstatement by Borrower, this Security Instrument wld obligations secured hereby shall remain fully effective as if no acceleration had OCCLUTecl. However, this right to reinstate shall not apply in the case of acceleration lmdcr Section 18. 20. Sale of Notc; Change of Lo:m Sen'iccr; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instnunenl) Cilll be sold one or more times without prior notice to Borrower. A sale might result in a chilllge in the entity (known as the" LOllil Servicer") that collects Periodic Paymenls due under the Note illld this Secmity Instrumentllild performs other mortgage lo:m servicing obligalions under the Note this Security Instrument, llild Applicable Law. There also might be one or more chilllges of the Loan ServiceI' unr~latcd to a sale of the Note, If there is a chllilge of the LOilll ServiceI', Borrower will be given written notice of the chilllge \\ hieh \\ill state the name wId address of the new LOlli1 ServiceI', the address to which paymcnts should be made and any other infonnation RESP A requires in connection with a notice of tnmsfer of servicing. If the Note is sold llild thereafter the Loan is serviced by a LOilll Servicer olher thllilthe purchaser of the Note, the mortgage lornl servicing obligations to Borrower will remain with the LOilll ServiceI' or be trilllsferrecl to a snccessor Lornl ServiceI' illld lli'e not aSSlUl1ed by the Note pmchaser lUlless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to illlY judicial action (as either llil individual litigillll or the member of a class) that rn'ises from the other plli'ty' s actions plLfsLHmt to this Security Instrument or that alleges that the other party has breached lliIY provision of, or illlY duty owecl by reason of, this Security [nslrument, until such Borrower or Lender has notiiíedthe other pill'ty (",-ith such notice gi yen in cOll1pli~mce with the requircments of Section 15) of such alleged breach ¡md afforded the olher pill'ty hereto a reasonable period after the giving of such notice to tal,e corrective action. If Applicable Law providcs a time period which must elapse before certain action crnl be taken, that time period will be deemed to be reasonable for puq)oses or this pw'agraph. The notice of acceleration llild opportlU1Îty to cure givcn to Bonower pursllLmtto Section 22 and the notice of acœleralion given to Borrower pmsuant to Section 18 shall be deemed to satisfy the notice llild opportunity to take corrective action provisions of this Section 20. 21. Hazardous SUbStlUlCCS. As used in this Section 21: (a) "Hazrn'dous SubStilllceS" rn'e those subs[¡mccs defined as toxic or hazardous substwlces, pollutllills, or wastes by Enviro11lnenlal Law ¡md the following substllilces: gasoline, kerosene, other flilll1l1lable or toxic petrolelUll prod.ucts, toxi~ pestici~~es lli~d herbicides, v~latile sol.ven~s, materials conlaining asbestos or formaldehyde, llild radIOactIve malerIals; (b) Envlronmen[¡~l Law meilllS tcd~I al laws mld laws of the jurisdiction wherc the Properly is localeclthat relate to health, safely or envIronmcntal protectIOn; (c) "Environmental Cleillmp" includes illlY response a~lio~~, remedial action, or removal action, as deflncd in Environmental Law; illld (d) llil "Environmental CondItIon mernlS a comhllOn that CWI canse, contribute 10, or otherwise trigger ¡m Environmental Clellimp,. ' Borrower shall not cause or permit the presence, use, dlsposal, storage, or rclease of :my Hazardous Subslances, or tlU'eaten to release illlY Hazardous SubstllilceS, on or in the Property. Borrower shall nol do, nor allow anyonc else to clo, illlything affecting the Property (a) that is in violation of any Environmen[¡ù Law, (b) wluch creates WI Enviro11luental Condition, or (c) which, due to the presence, use, or rel~ase of a Hazardous Subs[¡mce, crcates a condition that adversely affects the value of the Properly. The precedll1g two sentences sluùl not apply to the presence, use, or storage on the Property of small qumllities of Hazm'clous SubstilllceS that ill'e generally recogmzcd WYCMING-Single Family-Fannie Mae/Freddie Mac Ut~IFCRM INSTRUMB'-lT Fonn 3051 1/01 Page 10 of 12 DoçMagic Ø}\Qíj\IJ,J@ 80.0.,6,19,1362 www.docmagic.com Wy'l.J5UG.1I1g " ,,.0 \0 ~ ,~yi ~:- F .~~j }L /~~ tJ tj 8 , r: n ':: I"'j f) . , '... ,.l { t... to be appropriate to norlUal residential uses and to mainten,mce of the Propeliy (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) rulY investigation, claim, demillld, lawsuit or other aclion by any govenunental or regulatory agency or private pru·ty invol ving the Property ruld illlY Hazwdüus Substance or Environment¡J Law of which Borrower has actual knowledge, (b) illlY Environmental Condition, including but not limited to, illlY spilling, leaking, dischill'ge, rdease or threat of release or Wl)' HaziU'dous Substilllce, and (c) ¡my condition caused by the presence, use or release of a Hazardous Substilllce which adversely affects the value of the Property. If Borrower learns, or is notified by illlY governmental or regulatory authority, or illlY private party, that any removal or other remediation of illlY Hazill'dous SubstilllCe affecting the Property is necesSill)', Borrower shall promptly take all necessary remedial actions in accordilllce with EnvirolUllental Law. Nothing herein shall create illlY obligation on Lender for an EnvirolUllental Clerump. NON-UNIFORM COVENANTS. Borrower ruld Lender further covenilllt illld agree as follows: 22. Acceleration; Remedies. Lender shall give lIo(jœ to Borrower prior to acceleration following Borrower's IJreach of any covenant or agreement in this Selll.-ity Instnullent (lJut not prior to accclemtion under Section ]8 unless Applicable Law provides othemisc). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must bc cured; amI (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 amI sale of thc Property. The notice shall fUliher inform Borrower of the right to reinstate after acceleration and the right to bring a court action to :lSseli the non-existence of a default or :UlY other defeuse of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lcnder at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may in volœ the power of sale :wd any other remedies permitted by Applicnble Law. Lender shall be cntitled to collect all expenses incurred in pursuing thc remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fL'CS and costs of title evidencc. If Lender invokes the l)Ower of sale, Lender shall give notice of intent to foreclose to Borrower amI to the person in possession of the Property, if different, in accordancc with Applicable Law. Lcnder shall give notice of thc sale to Borrower in the manner provided in Scction 15. Lender shall publish the notice of salc, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Propcrty at :Uly s:ùc. The proceeds of the sale shall he applied in the following order: (a) to all exp~nses of t.he sale, including, but not linùted to, reasonable attorneys' fees; (b) to all sums secured by this Secunty Instrument; and (c) any excess to the person or persons legally cntitled to it. .' 23. Helease. Upon payment of all SUlllS secmed by this Security lnstrumcnt, Lender shall release tIlls Security Instnunent. Borrower shall pay illlY recordation costs. Lender may charge Borrower a fee for releasing this Seclu'ity lnstnunent, but only if the fee is paid (0 a third pili'ty ror services rendered illld the duuging of the fee is permittcd lUlder Applicable Law. ..' 24. \V:ùYers. Borrower rei cases illld waives all rights \lilder and by virtue 01 the homestead cxemptlon laws of Wyoming. WYO\J1ING-Single Family-Fannie Mae/Freddie Mac UNIFrnIIINSTRUMB'iT Form 3051 1/01 Page 11 of 12 DocMagic eff,gjjUiliJh"> 800,649-1362 www.cJocmagic.com \\y30511111/g }~¡3 \ ~,f , .' J' r tj'- ',~. ,1 ' .;-~ j 1"'\;" ¡:" 'Ji...;.'f, .:r~, ~,ji,-:.J}~'-~'''Z.)'-.J; r' ,fì 0 ," 1"7 '} '-' ,) ) J J BY SIGNING BELOW, Borrower accepts [md agrees to the tenns [md covenrulls contained in this Secmity Instrument ruld in rulY Rider executed by Borrower ruld recorded with it. ) (Seal) - Borrower (Seal) -Borrower (Seal) - Borrower (Seal) -Borrower (Seal) -Borrower Witness: Witness: [Space Below This Lin'? For Acknowledgment] County of SWEETWATER ) ) ss. ) State of Wyoming The foregoing instrument was acknowledged beron: me by KENl\!ETH PETERSON, t1l\RY PETERSON this ;)3 day of )J (JV '200 S , Witness my hand ruld official seal. ·_~'---w~ "".",);-;,0-_- ~''''''''O--N Z''::L~;:Ñ01ARY PUBLIC ANGELA K G h ,.'. ''¡'1''1''i;, STATE OF tCOUNTY OF 1"1~,.,·."..\)j.{.:~). W'I~M\t SWEOWATER ï;;(''i?:{i¡ "".'11\.;';" 1M COlN~ISSION ex? ~--::-.;;;-~ . ..,..~.J.""'#.;...v-~ (Seal) My cOlllmission expires: lO~~~ d()Di VWCMING-Single Family-Fannie MaelFreddie Mac UNIFCRM 12NSTf RU12MENT Form 3051 1/01 Page 1 0 DocMagic Ø}(Qû1JilŒj 800-649-1362 IVWW. docmagic.com \\j.J05112ujg