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Home My WebLink About914111 2' ( "77, !..J ¡\:) 17 0" ¡;,<11£16'- i..../ .51288 (04) ¿;\ r· (I (. 4 1'1 '1 \.' u . . .(.. Return To: FHHLC - POST CLOSING MAIL ROOM 1555 W. WALNUT HILL LN. #200 MC 6712 IRVING, TX 75038 Prepared By: FIRST HORIZON HOME LOAN CORPORATION 1315 SOUTH HIGHWAY 89, SUITE 101 JACKSON, WY 83001 [Space Above This Line For Recordiog Datal-~~----------- 0056224611 MORTGAGE RECEIVED 12/1/2005 at 2:17 PM RECEIVING # 914111 BOOK: 606 PAGE: 424 JEANNE WAGNER LINCOLN COUNTY CLERK, rŒMMERER. WY DEFINITIONS Words used in multiple sections of this document arc defined below and other words arc defined in Sections 3, 11, 13, 18,20 and 21. Certain ruìes regarding the usage of words used in this document arc also provided in Section 16. (A) "Security Instrument" means this documcnt, which is daled together with all Riders to this document. (B) "Borrowcr" is DAVID LOMELI & STEPHANIE MARIE LOMELI , Husband & Wife November 23rd, 2005 I) Borrower is ù1e mortgagor under this Security Instrument. (C) "Lcndcr" is FIRST HORIZON HOME LOAN CORPORATION Lender is a CORPORATION organized and existing under the laws of THE STATE OF KANSAS WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 <O®-6(WY) (0005) --~.,.c,~~ L~- Page 1 ul '5 InIHoI5:---:--\__» ...._ /' ..' /--;--=-~~- ( VMP MORTGAGE FORMS"'(8'ÓÕ)52"729L,_,~ 11111111111111111111111111111111111 f " (, .'(j ,~~ ..;.,." "\íi tJ":'~J.L~n~LjL~ (" ('\ C' 4 1'1· r: '" U j . (~ 0 Lender'saddressis 4000 Horizon Way, Irving, Texas 75063 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory nOle signed by Borrower and dated November 23rd, 2005 The Note states Ù1at Borrower owes Lender SIX HUNDRED EIGHTY TWO THOUSAND THREE HUNDRED & 00/100 Dollars (U.S. $ 682, 300 . 00 ) plus interest. Borrower has promised to pay this ckht in regular Periodic Payments and to pay ÙIe debt in full not later than December 1st, 2036 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (F) "Loan" means Ù1e debt evidenced by ù1e Note, plus interest, ,U1y prepayment charges amI latc charges due under Ù1e Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to ù1Ìs Security Instrument Ù1at are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: '. GJ Adjustab]e Rate Rider D Bal]oon Ricler D VA Rider D Condominium Rider D Planned Unit Development Rider D Biweekly Payment Rider D Second Ilome Rider D ] -4 Family Rider GJ Olher(s) [specify] CONSTRUCTION LOAN RIDER (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances ,U1d administrative rules w1d orders (ù¡at have the effect of Jaw) as well as aJl applicabl(~ final, non-appealab]e judicial opinions. (1) "Comm unity Association Dues, Fees, and Assessments" means aJl dues, fees, assessments and other charges that are imposeq on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or aUù10rize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire tr¡U1sfers, and automated clearinghouse transfers. (K) "Escrow Items" meW1S those items ù¡at arc described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any ùlÌrd party (où1er than insurance proceeds paid under the coverages described in Section 5) for: (i) dwnage to, or destruction of, the Property; (ii) condemnation or other Laking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of. or omissions as to, the value and/or condition of the Properly. (M) "Mortgage Insurance" means insunmce protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) "RESPA" means ùle Real Estate Setùement Procedures Act (12 use. Section 2601 ct seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or allY additional or successor legislation or regulation ÙUlI governs the same subject maller. As used ill this Security Instrument, "RESPA" refers to all requirements and restrjctions that are imposed in regard to a "federally related mortgage loan" even if ùle Loan does not qualify as a "federally related mortgage ]oan" under RESP A. 0056224611 C -6(WY) (0005) ® Page 2 of 15 ~--. \';Yf. I. ,'( inJllo ¡;,'::-¿:r-:::~. '..-,-<'»\- ~'~.,.-v _//-;;>~,,-' / Form 3051 1/01 -'-'--~ tt.-/ \1.} ~;) :i.~, !'~, 1]. .1:.t .'"' !Ì (\ .ri (1 G \.,,) U LJ: .(. (P) "Successor in Interest of Borrower" memls any party that has taken title to the Property, whether or not tllat party has assumed Borrower's obligations under tlJe Note and/or tlJis Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modificaLions of ù1e Note; ,md (ii) the performance of Borrower's coven,l/Its and agreements under ùlis Security Instrument and the Note. For ù1Ís purpose, Bormwer does hereby mortgage, grant ane! convey to Lender and Lender's successors ane! assigns, witl) power of saJc, the following described property located in the County of Lincoln [Type of Recording Jurisdiction] [Name of Rccor,Jing Jurisdiction! LOT 28 OF SHADOW DANCER ESTATES, LINCOLN COUNTY, WYOMING ACCORDING TO THE PLAT FILED AUGUST 11, 2004 IN THE OFFICE OF THE COUNTY CLERK AS PLAT NO. 17 3 - C . Parcel ID Number: County: NNA SHIRAS DRIVE ALPINE ("Property Address"): 36191040048600 City: N/A which currently has the ae!dress of [Street [City] ,Wyoming 83128 fl.ip Code] TOGETHER WITIi all the improvements now or hereafter erected on tlle property, and all casements, appurtenances, and fixtures now or hereafter a part of tile property. All replacements ane! additions shall also be covered by this Security Instrument. All of the foregoing is rderred to in this Security InstflJmem as the "Property. " BORROWER COVENANTS that Borrower is lawfully seisee! of the estate hereby COil "eyed and has tile right to mortgage, gnmt ami conl','y the Property ane! that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will e!dend generally the title to the Pmperty against all claims ane! demands, subject to any encumbnmces of record. TIllS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower amI Lender covenant and agrce as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrowcr shall pay whcn due the princip,ù of, and interest on, the debt evidenced by [he Note and any prepayment charges and late chargcs due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments duc under the Note and this Security Instrument shall be malk in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this 0056224 611 .Ij¡jI'~b".~Ç==:5i~~"\) o -6(WY) (0005) Page 3 0115 -' -\'~ 0\ Form 3051 1/01 ® <:=~=S----CJ , ^" 1'1 i ·~~:'C'·:·~~ (i\/.AJ\1 1LJL ~J ,_3 ",~ "- ~ (' (ì (\ 1 t~ ~'1 >,' ") \,' ':1.:.'..... . Security Instrument is returned to Lender unpaid, Lender may require that any or aU subsequent payments due under the Note and ù1Ís Security Instrumcnt be made in one or llIore of the following forms, as sdected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurcr's check or cashier's check, provided ,my such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at ùle 10caLion designated in the Note or at such où1er location as may be designaw¡J by Lender in accordance with ù1e notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments arc insufficient to bring the Loan current. Lender may accept ,my payment or partial payment insufficienl to bring Ù1C Loan current, without waivcr of any rights hereunder or prejudice to its rights to refuse such pay men I or partial payments in Ù1e future, but Lender is not obligated to apply sllch payments althe time such payments are accepled. If each Periodic Payment is applied as of its scheduled due date, ù1en Lender need not pay interest on unapplied funds. Lemler llIay hold such unapplied funds unLiI Borrower makes payment to bring the Loan current. If Borrower docs not do so wiù1in a reasonable period of time, Lender shall eiùler apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to lhe outswnding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in thc future against Lender shall relieve Borrowcr from making payments due under Ùle Note and ùlÎs Security Instrument or performing Ù1e covenants and agreements secured by ù1is Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise descrilx~d in lhi:.; Section 2, all paYllrents accepted and applied by Lender shall be applied in ùle following order of priority: (a) interest due under the NOle; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be ¡¡pplied first to lale charges, second to any other amounts due under ù1Ís Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payml~nl from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more ùlan one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent ùJat, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full paymenl of one or more Periodic Payments, such excess may be appliL~d to illlY late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as describe(j in the NOll'. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not ex lend or postpone the due dale, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lemler on Ùle day Periodic Payments are due under the Note, until the Note is paid in full, a sum (ùle "Funds") to provide for payment of amounts clue for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encllmbrance on ù1e Property; (b) leasehold payments or ground rents on ù1e Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and Cd) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with Ùle provisions of Section 10. These items arc called "Escrow Items." At origination or at any time during ùle term of ù1e Loan, Lender may require that Community Associatill/I Dues, Fees, and Assessmcnts, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under Ùlis Section. Borrower shall pay Lender Ù1e Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrowcr's obligation to pay to Lender Funds I'm any or all Escrow Items at any time. Any such waiver may only be in writing. ]n ùle event of such waiver, Borrower shall pay directly, when and where payable, Ù1C amounts due for any E:.;crow Items for which payment of 0056224611 ~ -6(WY) (0005) ® Page 4 of 15 .. .-C-=~~~~---S::() --- Inllla¡:;:~==C"C__... /~, _'-"-'--;~:::~~~::-ÛTorrn 3051 1 /01 J ;/- . 'ì! I'll ~ 11 '~ .':..J ~-j ~'-::""J"--.ü'~¿d.¡,( (' 1\ 0 / (~. 8 I."') . ':l:!~ . Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items liirectly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall tllen be obligated under Section 9 LO repay to Lender any such amount. Lemler may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such anlounts, that are tllen required under tI¡is Section 3. Lender may, at any time, collect and holJ Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can retluire under RESP A. Lender shall estimate ùle lli110unt of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or oÙlerwise in accordw!ce witll Applicable Law. Thc Funds shall be held in an institution whose deposits are insured by a fc(kra] agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay [he Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding and applying tile Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interesl on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on tile Funds, Lender shall not be required to pay Borrower auy interest or earnings on tllC Funds. Borrower and Lender can agree in writing, however, tJwt interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of ùle Fuuds as required by RESPA. If tllere is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for tile excess funds in accord,mce with RESP A. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender tile amount necessm-y to make up ùle shortage in accordance with RESP A, but in no more than 12 monthly payments. If tJlere is a deJïciency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up tile deficiency in accordance with RESP A, but in no more than 12 lTlontllly payments. Upon payment in full of all sums secured by this Security Instrument, Lcnder shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all k1xes, assessments, charges, fines, ancl impositions attribuu¡ble to the Property which c,m atk1jn priority ovcr this Security Instrument, leasehold paymcnts or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if auy _ To the extent that these items arc Escrow Items, Borrower shall pay thcm in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instruml:nt unless Borrower: (a) agrees in writing to the payment of ùle obligaLJon secured by ùle lien in a manner acceptable to Lemler, but only so long as Borrower is performing such agreement; (b) contests the lien in good faiùl by, or defends against enforcement of ùle lien in, legal procee(iings which in Lender's opinion opaate to prevelll the enforcement of the lien while ù¡ose proccedings are pending, but only until such proceedings are concluded; or (c) secures from ùle holder of the lien an agreement satisfactory to Lender subordinating thc lien to this Security Instrument. If Lender determines Ù1al any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 0056224611 Q -6(WY) (0005) ® Page 5 0115 /'-. -¡ () __ --lnltiaIS:":\-=:;'»\(// /'/~--;:-"\.'..... ' "~ (\ Form 3051 1/01 ..-/ <:'-.. u__} \J ~ }~~-)~t~<'L "t: 11 (- ('\ (; ,~ (! 9 '.' u _ 'i .(, ' days of the date on which Ù1at notice is given, Borrower shall satisfy ùle liell or take one or Illore of Ùle actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate lax verification ami/or reporting service useù by Lender in connection wiÙ1 ù1is Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on Ù1e Property insured against loss by fire, hazards included wiÙ1in ùle term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in Ùle mnounts (including deductible levels) and for Ùle periods ÙUIt Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing ùle inSUf<Ulce shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection WiÙl ùlis Loan, eiùler: (a) a one-time charge for 1100(1 zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for ùw payment of any fees imposed by Ù1e Federal Emergency Management Agency in connection \ViÙI the review of any 1100d zone determination resulting from an objection by Borrower. if Borrower fails to maintain any of Ù1e coverages described above, Lender may obtllÎn insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shalJ cover Lender, bul might or might not protect Borrower, Borrower's equity in the Property, or Ù1e contents of ùle Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges Ù1at ùle cost of Ùle insurance coverage so obtained might significantly excœd the cost of insurance ùlat Borrower could have obtained. Any amounts disbursed by Lemler under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interesl at Ù1e Note rate from Ùle date of disbursement and shall be payable, with such interest, upon nOlice from Lcmler to Borrower requesting payment. All insurance policies required by Lender [md renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have Ù1e right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains [my form of insurance coverage, not otherwise required by Lemler, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall nmne Lender as mortgagee and/or as an additional loss payee. In Ù1e event of loss, Borrower shall give prompt notice to Ù](: insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otJ¡erwise agree in writing, [my insurance proceeds, whether or nOl Ù1e underlying insurance was required by Lcnder, shall be applied to res lara lion or repair of Ùle Property, if Ùle resloration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shaH have Ù1e right to hold such insurance proceeds until Lender has had ,Ul opportunity lo inspect such Property to ensure the work has been completed to Lender's satisfaction, provided Ùlat such inspection shall be undenaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as Ù1e WOik is completecl. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or olher third parties, retained by Borrower shall not be paid out of Ù1e insurance proceeds [md shaH be Ù1e sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, ùle insurance proceeds shall be applied to 0056224611 ca-6(WY) (0005) ® Page 6 0115 -==~.i:I~-I~~=~;~:'~ç / /_../..--_""~:::=- /. Form 3051 1/01 .....-~./" ~í 1'j .~ 'p '. -~.. ...,~ -L r- n n 11' ~< 0 ',' ,.).J v úle sums secured by this Security Instrument, whether or not then due, with Ú¡t excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower ab¡mdons Úle Property, Lender may file, negotiate and settle any available insurance claim and related matters, If Borrower does not respolld within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, ú¡en Lender may negotiate and settle the claim. The 30-day period will begin when ú¡e notice is given. In either event, or if Lender acquires the Property under Section 22 Of où1erwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed ù1e amuunts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than ù1e right to any refund of unearned premiums paid by Borrower) under all insurance pulicies covering ù¡e Property, insofar as such rights are applicable to the coverage of the Property, Lender may use ù1e insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or ù1Îs Security Instrument, wheÙ1er or not then due, 6. OccupanC)'. Borrower shall occupy, establish, and use ú¡e Property as Borrower's principal resilicnee within 60 days after úle execution of this Security Instrument and shall continue to occupy tllC Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender ulhcrwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair Ù1e Property, alluw the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in ù1e Property, Borrower shall maintain the Property in urder to prevent ù1e Property from deteriorating or decreasing in value due to its condiLion. Unless it is cktennined pursuant to SecLion 5 Ù1at repair or restoraLion is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid furlher deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, Ù1e Properly, Borrower shall be responsible for repairing or restoring Ù1e Property only if Lender has released µroceeds for such purposes. Lender may disburse proceecis for the repairs and restoration in a single payment or in a series of progress payments as the work is completed, If the insurance or condemnation proceeds are not sullicient to repair or restore the Properly, Borrower is not relieved of Borrower's obligation for the compkLion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of Ù¡e Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior [0 such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, dming the Loan application process, Borrower or any persons or entities acting at the direcLiun of Borrower or with Borrower's know!cdge or consent gave materially false, misleading, or inaccmate information or statements tu Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, repreSenl1llions concerning Borrower's occupancy of Ùle Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements l'ontained in this Security Instrument, (b) Ù¡ere is a legal proceeding Ù1at might significantly affect Lender's interest in the ProplTty and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attltin priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned Ùle Property, then Lender may do ami pay for whatever is reasonable ur appropriate to protect Lender's interest in Ù1e Property and rights under ù1is Security Instrument, including protecting and/or assessing the value of ù1e Pruperty, and securing and/or repairing the Properly. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priurity over ù1Îs Security Instrument; (b) appearing in court; and (c) paying reasonable 0056224611 Q -6(WY) (0005) ® PaJ" 1 0115 _1¡¡¡li~'?~(O(~~) --_/'-~~,:>::::¿\r Form 3051 1/01 ·;1'¡"1"· ~.~JL . :~ (\ C· 4 'j' 1 '.' ,) ,j . attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Propeny includes, but is not limited to, entering the Property 10 make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, ,md have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so anel is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Insu'ument. These lli1l0unts shall bear interest at ùle Note rale from tile date of disbursement and shall be payable, WiÙl such interest, upon notice from Lender to Borrower rellIl~sting payment. If this Security Instrument 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 ùle fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required tv10ngage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mongage Insurance in effect. If, for any reason, ùle Mongage Insurance coverage required by Lender ceases 10 be available from the mongage insurer lhat previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mongage Insurance, Borrower shall pay the prl~miums required to obtain coverage substantially equivalent to ùle Mongage Insurance previously in eITeel, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insuranœ previously in eITect, from an alternate 1l10ngage insurer selected by Lender. If substantially equivaJent tvlongage Insurance coverage is not available, Borrower shall continue to pay to Lender the llillount of tI¡e separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and reulin these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for Ù¡e period that Lender requires) provided by an insurer selected by Lender again becomes available, is obta.ined, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the LOLU1 and Borrower was required to make separately designated payments toward the premiums for Mongage Insurance, Borrower shall pay ùle premiums required to mainta.in Mortgage Insurance in eITect, or to provicle a non-rcfundabk loss reserve, until Lender's requirement for Mortgage Insurance ends in accordwlce with any written agreement between Borrower llild Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in tlle Note. Mortgage Insurance reimburses Lender (or any entity ù¡at purchases Ùle Note) for certain losses it may incur if Borrower docs not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time 10 time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms iU1d conditions Ùlat are satisfaclOry lo the mortgage insurer and the other party (or parties) lo these agreements. These agreements may require the mortgage insurer 10 make paymcnts using any source of funds Ù¡¡U the mortgage insurer may have available (which may includc funds oblaincd from rv!urtgage Insurance premiums). As a result of these agreements, Lemler, any purchaser of the Note, another insurer, an)' reinsurer, any other entity, or imy affiliate of any of the foregoing, lTIay receive (directly or indirectly) amounts that derivc from (or might be characterized as) a portion of Borrower's payments for Mongage Insurance, ill cxchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides thal an affiliate of Lender uìkes a share of the insurer's risk in exchange for a share of Ù1e premiums paid [0 the insurer, the arrangement is often termed "captive reinsurance." FurÙler: (a) An)' such agreemcnts will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for IVIortgage Insurance, and they will not entitle Borrower to an)' refund, 0056224611 C-6(WY) (0005) ® Page 8 0115 'C.-:---- ----::'=:'/"'(7 ..I"¡"alS:~~~~~C=~ ~k _________ :::>-..-·ô¡\F-orm 3051 1/01 ~:.:~--~ U "j ;., .....! ...-'1:1 _f' .) '-< . ....... 1'1 .')~ ')J -C.;J ..... ...¿. ..JL 4 ,. ,'\ ('" 1 n () ~,,'j ) [J: j ,.;;., (b) Any such agreements will not <.iffect the rights Borrower has - if any - with respl'ct to the Mortgage Insurance under the Homeowners Protection Act of 1998 or ¡my other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/ur to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeit ure. AJI Miscellaneous Proceeds arc hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to rl~sloraLÍon or repair of the Property, if the restoration or repair is economicaJly feasibJc and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such rv1iscelJancollS Proceeds until Lender has had an opportunity to inspect such Property to ensure Ù1C work has been complcted to Lender's saLÍsfaction, provided ÙUll such inspection shall be undcrtaken promptly. Lender may pay for the repairs and restoration in a single disburscment or in a series uf progress payments as the work is cOlllpletcd. Unless an agreement is made in writing or Applicable Law requires inlerestlo be paid on such tv1iscellaneous Proceeds, Lendcr shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the rcstoration or repair is not economically fca,ible or Lender's security would be I<.;ssened, the Miscellaneous Proceeds shall be applied to ù1e sums secured by this Security Instrument, whclhcr or not ù¡en due, wilh the excess, if any, paid to Borrower. Such Miscellaneous Prucceds shall be applied in ùle order provided for in Section 2. In me event of a total laking, destruction, or loss in value of the Properly, the Miscellaneous Proceeds shall be applied to me sums secured by ùJÌs Security Instrument, whether or nOl lhen due, with lhe excess, if any, paid 10 Borrower. In the event of a partial taking, destruct jon, or loss in value of the Properly in which the fair market value of Ù1e Property immediately before the parlialtaking, destruction, or loss in value is equal to or greater ÙUIB the amounl of ù1e sums secured by this Secmity Instrument immedialely before the partial taking, destruction, or loss in value, unless Borrower ,md Lender otherwise agree in writing, [he sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) ù1e total amount of me sums secured immediately before Ù1e panialtnking, destruction, or loss in value divided by (b) Ù1e fair market value of ¡he Property immediately before the partial taking, destruction, or loss in value. Any balm1ce shall be paid to Borrower. In the event of a parlial taking, destruction, or loss in value of the Property JJ which the fair m:ìrket value of me Property immediately before ù1e partial laking, destruction, or loss in value is less than lhe amount of ù1e sums secmed immediately before ùle partial laking, destflJction, or loss in valuc, unless Borrower and Lender otherwise agree in writing, [he Miscellaneous Proceeds shall be applied 10 the sums secured by mis Security Instrument whether or nol ùle SUITlS are men due. If me Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in me next sentence) offers 10 make an award to seltle a claim for damages, Borrower fails to respond to Lcnder wimin 30 days after ùle date ùle notice is given, Lender is authorized to collect and apply [he Miscellaneous Proceeds either to restoration or repair of ù1e Property or to the sums secured by this Security InstflJment, whemer or not then du.:. "Opposing Party" means me third party ù¡at owes Borrower Miscellaneous Proceeds or Ù1e party against whom Borrowcr has a right of action in regard to Miscellaneous Proceeds. Borrowcr shall be in default if any aClion or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of ùle Property or o[her material impairmeI1l of Lender's inlerest in [he Property or rights under ùJÌs Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in See lion 19, by causing ù1e action or proceeding to be dismissed with a ruling mat, in Lender's judgment, precludes forfeiture \)1' the Properly or oiher material imp:lirment of Lender's interest in ù1e Property or rights under this Security Instrument. The pro(ù~ds of any award or claim for damages that are allributable to me impairment of Lemler's inlerest in me Property arc hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds mat arc not applied to restoration or repair of me Property shall be applied in the order provided for in Section 2. 0056224611 Q -6(WY) (0005) ® P ag e 9 01 15 "'c:-:-:-::.:::: ~.....(.=:~,:R() -IAlllals:=~..=·· .=:::::-> ~__ .' /~o>./--~. ~·'..)·--"n 3051 1/01 .' .-0> '. .. .( ~;-~;::::-- .;:~:.~~::~_~'~=:~-~~5 -' , , \01 jLlí r'nO>/!Q'3 I,. U j 'i .) 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument grallled by Lender to Borrower or ~U1y Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to eXlènd time for payment or oÙlerwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less Ùlan the amounl then due, shall not be a waiver of or preclude Ù¡e exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bonnd. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. ! lowever, any Borrower who co-signs this Security Instrument but does nol execute the Note (a "co-signer"): (a) is co-signing ù¡is Security Instrument only to mortgage, gram and convey the co-signer's interest in the Property under ù¡e terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by ùlÍs Security Instrument; and (c) agrees Ù1at Lender and any OÙ¡er Borrower c~U1 agree to extend, modify, forbear or make any accommodations with regard to ù1e terms of this Security Instrumem or thc Note without the co-signer's consent. Subject to the provisions of Section I S, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrowcr shall not be released from Borrower's obligations and liability undcr this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of ùÙs Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Len(!èr. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under ù1Ís SeclJfity Instrument, including, but not limited to, allorneys' fees, property inspection and valuation rees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not he construed as a prohibition on the charging of such fee. Lender llIay not charge fees Ùlat arc expressly prohibited by ù1Îs Security Instllnnent or by Applicable Law. If Ù1e Loan is subject to a law which sets maxÍlnum loan charges, and that law is finally interpretcd so that the interest or où¡er lmill charges collected or to be collected in connection with we Loan exceed the permitledlimits, then: (a) any such lmm charge shall be reduccd by the amouJll necessary to reduce the charge to ù1e pennilled limit; and (b) any sums already collecte(i from Borrower which exceeded permilled limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under ù1e Note or by making a direct payment to Borrower. If a refund reduces principal, lhe reduction will be treated as a partial prepayment wiù10ut any prepayment charge (whether or not a prepayment charge is provided for under ù1e Note). Borrower's acceptance of any such refund made by direct payrnentto Borrower will consUtute a waiver of any right of action Borrower might have arising out of such overcharge, 15. Notices. All notices given by Borrower or Lender in connection with this Sc:curity InstruI11em must be in writing. Any notice to Borrower in connection with ù1Îs Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower sluùl constitute notice to all Borrowers unless Applicable Law expressly requires oÙlcrwise. The notice address shall be the Property Address unkss Borrower has designated a substitute notice addrcss by notice to Lender. Borrower shall promptly notify Lendcr of Borrower's change of address, If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address ù1rough that specified procedure. There may be only one designated notice address under ù¡is Security Instrument at anyone time. Any notice to Lender sha1l be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated anoÙ1er address by notice to Borrower. Any notice in connection wiù¡ ù1Îs Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, Ù¡e Applicable Law requirement will satisfy Ù¡e corresponding requirement under this Security Instrument. 0056224611 ca -6(WY) (0005) ® Pagel00115 ,---'/<S 5 .. '--=::-: .....(.,- -".;:;L9-ilias;==~ ~-~, /./_----~~_'Ç<:~. .(~'-Form 3051 1/01 --~·····~-l \. : .:; '(~ .,,~ ~.l r. n (" 4 p '1 ',.:J J j II 16. Governing Law; Severability; Hules of Construdion, This Security Instrument shall be governed by federal law and lllc law of the jurisdicÜon in which the Property is located. All rights and obligaÜons contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or impliciÚy allow tile parties to agree by contract or it might be silent, but such silencc shall not be construed as a prohibition against agreement by contract. In the evcnl that any provision or clause of ll)is Security Instrument or tlK Note COnniClS witl) Applicable Law, such contlicl shall not affect other provisions of tllis Security Instrument or the NOle which can be given effect without tllC conflicting provision. As used in this Security Instrument: (a) words of the masculine g(~nder shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall nlean amI include the plural and vicc versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of tl1is Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in tllÎs Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those benefici:ll interests transferred in a bond for deed, contract for deed, installment sale:s contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of tlle Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all stuns secured by [Ills Securily Instrument. However, this option shall not be exercised by Lender if such exercise is prohibitnl by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the dale ùle notice is given in accordance witl¡ Section 15 within which Borrower must pay all sums secured by this Security InstIument. If Borrower fails 10 pay these sums prior to tl)e expiration of tllÎs period, Lender may invoke any remedies permitted by 11lÎs Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of Ú¡e Property pursuant to ,my power of sale con wined in this Security Instrument; (b) such otl)er period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are thm Borrower: (a) pays Lender all sums which then would be due under tl)is Security Instrurnent and the Note as if no acceleration had occurred; (b) cures any default of any oÚ¡('r covenants or agreeml~nts; (c) pays all expenses incurred in enforcing this Security Instrument, including, but nlJt limited 10, reasonable attornl~Ys' fees, property inspection and valuation fees, and other fœs incurred for the purpose of protecting Lemler's interest in the Property and rights under this Security Instrument; and (d) lakes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under tl1is Security Instrument, and Borrower's obligation to pay the sums secured by tllÎs Security Instrument, shall continue unchanged. Lender may reljuire that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's dleck or cashier's check, provided ,my such check is drawn upon an institution whose llePOSitS are insured by a federal agency, instrumenlality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Burrower, this Security Instrument and obligations secured hereby shall remain fully efkctive as if 110 acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section IH. 20. Sale of Note; Change of Loan Servicer; Noli¡:e of Grievance. The Note or a partial interest in the Note (togetl)er will) this Security Instrument) can be sold one or more times w ilhout prior notice to Borrower. A sale might result in a change in the entity (known as tl)e "Loan Servicer") that collects Periodic Payments due under ll)e Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security InstrulT1c.nt, and Applicable Law. There also might be one or more changes of ùle LOtUl ServiceI' unrelated to a sale: of the Note, If there is a change of the LO¡1I1 ServiceI', Borrower will be given written notice of Ú)C change which will state Ú)e name and addrcss of the new Loan ServiceI', the m1dress to which payments should be made and any other information RESPA requires in connection with a 0056224611 o -6(WY) (0005) ® Page 11 0115 ç---".~ /) ......-.....} .:~ j¡¡¡liaIS~=~,:~,":::- \.k '_/'~_'-':"'-('Û.·'-Form 3051 --- .c.~~"~"'..,._.~~. .,.,u__~ 1/01 'I" ..,.~ lL:L r. _ '" . ,>"' . .! \, , Þ h C.' ~.) ',. . ¡ ~, '1: ._' .. notice of transf¡;r of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan ServiceI' other th,m the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with ùle Loan ServiceI' or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless oùlerwise provided by the Note purchaser. Neiùler Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) Ù1at arises from the oùler pany's actions pursuant to lhis Security Instrument or that alleges Ùlat the other pany has breached any prov ision of. or any duty owed by reason of, ùlÌs Security Instrument, until such Borrower or Lemler has notified ùle other party (WiÙl such notice given in compliance wiù) the requirements of Section IS) of such alleged breach and a/Torded ùle other pany hereto a reasonable period after the giving of such notice to take corrective action. ]1' Applicable Law provides a Lime period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower purslHmt to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective aClion provisions of this Section 20. 21. Hazardous Substances. As used in this Section 2]: (a) "Haz,m!ous Subst¡\nces" arc those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, ,md radioactive materials; (b) "Environmental Law" me,ms federal laws and laws of the jurisdiction where the Properly is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response act jon, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition thaI can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Subsumces, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting ÙK Properly (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or rdease of a Hazardous Substance, creates a condition that adversely affects the value of the Properly. The preceding two senlences shall not apply to ùle presence, use, or storage on ùle Properly of small quantities of Hazardous Substances that are generally recognized to be appropriate to nonmù residential uses and to maintenance of the Property (including, hut not limited to, hnzardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or privnte pany involving the Propeny and any Hazardous Suhsumce or Environmental Lnw of which Borrower has aCLUal knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects ù)e value of the Properly. If Borrower lenrns, or is notified by any governmental or regulatory authority, or any privnte parly, that any remov~¡j or other remediation of any Hazardous Substance affecting the Properly is necessnry, Borrower shnH promptly take aH necessary remedial actions in nccordance with Environment¡¡l Law. Noùling herein shaH create any obligation on Lender for an Environmental Cleanup. 0056224611 a -6(WY) (0005) ® P a9 e '2 01 15 ,-- c '--=~^ .....ßl111'ãi¡¡è-=-s:Ç;~> \ y .' ,. ~..>-<;-' '-J> ?--~. ( , { ,- -" ------.-----..-> Form 3051 1/01 :',_./~~ jL 1. 1 ("('-n.1()C '.' ,) d :¡: J Ü NON-UNIFORM COVENANTS. Borrower and Lender furù1er covenant amI agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 ullless Applkable 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 givell to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the lIotke may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any 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 fnll of all sums secured by this Security Instrument without furt her demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of in tent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicahle Law. Lender or its designee may purchase the Property 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 excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall reJcase this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing ù1is Security Instrumcnt, but only if the fec is paid to a ù1ÎHI party for services rendered ancl the charging of the fee is permitted uncler Applicabk Law. 24. '''aivers. Borrower releases and waives all rights ullcler and by virtue of the homestead exemption laws of Wyoming. 0056224611 Q -6(WY) (0005) ® Pagú130f15 c~ . .(~=,~;-~2¿ì () __.1nlllaI5:=~ .... ::::51:.'--'" .,_':;:::~:'<:.~ - eX 0 r m 3051 ~--- 1/01 /':':1 IJL (' !"\. r ~ q ~'J \), <-1.) BY SIGNING BELOW, Borrower accepts lU1d agrees to the terms and covenants contained 111 this Security Instrument and in any Rider executed by Borrower cUld recorded with it. Wil11esses: ---- --- __~-'\·-·-_..,-·-;rrr-; .-___PA V::'~~~:SºMÈLI:<2 ~--------- // ..---- ............... \JL -..\ '. \. --.."-_._~ (Seal) \ --~ -Borrower (TÔ 0' _ {~\_!!J~l,~~._?C~~ (Seal) STEPHANII1 ÞfARIE LOMELI I' U -)(HfOWer (Se¡ù) ~~______ (Seal) . Borrower - Borrower (Seal) (Seal) -Borrower ,Borrower (Seal) ~~____~ (Seal) ,Bormwer , Borrowe, 0056224611 0-6(WY) (0005) ® Page 14 0115 Form 3051 1/01 1i'~ .~ ~..:.......ii..~ (" 1\ Î'¡ J q 8', . ~ ,: t . ".' ,) u :1 '.J ST ATE OF WYOMING, T,-¿'c(J¡J "'ti:N e e LN:::::;- ~ County ss: The forègoing instrument was acknowleclgl:¡J before me this II [ '-¿--:J( oç by DAVID LOMELI & STEPHANIE MARIE LOMELI ,My Commission Expires: LO(£T2-0iJ¡ ~L-~"-~ ,~·lt?(,_,~ Notary Public ¿:) ";.," :;. .."+- ::."'_-" :;v·......··: :.'-":.' -v~., "'~"''''''''-'~~-.:., -..;,- .."<:..,. ,'.",,>-'~'" '-~' ';.'~;\'~ '~'.: - ";'-' :.::':' :.::: :....: -"~-I ~ , . 0 " " " .. ,. ,'. .__' J . . ,... . , ~, .. _, "', ' ~ C A Ð';ñ ' y::~:r;l:I ~ .' t.os',::,; II"jv.;!H.¡j jj" ~"", ....--"..,... "'-':-: 1~ ~~:~:-'i"'l-" _.." ..-.--/ ;..-..... " .! 'o.",c'~¡~d,...c,tL'I:b7::::L~ '-',.. '.; -.......'""__-..,.t.~.~.........t........;.... ~".""l-'...;.;.....0··.;...:-..;...· 't::_.~ 0056224611 Q -6(WY) (0005) ® Page150f15 c::"', '0' , ()'j "In,tlals ;'--' " ,u::;~ ¿)\._ __.,.~_/-:~,,~.,.. C~orm 3051 1101 --. , 1',\ "I" ,f' 'li.. . _;~ ....,L Jt.j,.¡ ('no·""}g '.' U ¡ '-J:.J ' ADJUSTABLE RATE RIDER 0056224611 (LlBOR Six-Month Index (As Published In The Wall Street.lollrnal) - Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 23rd day of November , 2005 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Adjustable Rate Note (the "Note") to FIRST HORIZON HOME LOAN CORPORATION ("Lender") of the same date and covering the property described in the Security Instrument and located at: NNA SHIRAS DRIVE ALPINE, WY 83128 [Property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHL Y PA YMENT CHANGES The Note provides for an initial interest rate of 7.125 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of December, 2011 and on that day every 6th month thereafter. Each date on which my interest rate could change is called a "Ctlange Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index, The "Index" is the average of interbank offered rates for six month U.S. dollar-denominated deposits in the London market ("LlBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the first business day of the month immediately preceding the month in which the Change Date occurs is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice, (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONE-QUARTER percentage points ( 2.250 %) to the Current Index. The Note Holder will then round the result of MUL TISTATE ADJUSTABLE RATE RIDER - LlBOR SIX-MONTH INDEX ¡AS PUBLISHED IN THE WALL STREET JOURNAL) - Single Family - Fannie Mae Uniform nstrument q-838R (0402) For~ 31 ~8-11P1 ~-.... Page 1 of 3 1~ltlals:-,=-::>7ø:--::_~_ VMP Mortgage Solutions, Inc. '" .-~ (800)521-7291 ~-- 11111111111111111111111111111111111 ", 4' .{1 JL:.l~ ('!Ì{",;f 10 '., ,) ¡ Ll L.t . this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(0) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at Ule Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of H1is calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 13 .125 % or less than 2.250 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more Ulan TWO & 00/100 percentage points 2.00 %) from the rate of interest I have been paying for the preceding 6 months. My interest rate will never be greater than 13 .125 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monttlly payment before the effective date of any chänge. The notice will include information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest In the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise Ulis option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to Ule loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. 0056224611 ~-838R (0402) ® Page20f3 /~) () . .'-"'~- <. -.;::-'--.... I nit i a Is: '::?:'·~--·--·ì==f.·?~.,. ...--.-> -~~-\-~._- \ ~j' F?!~~38ï 101 1;1 '"i~ 'W ..!:LJ.... !Î r, A 4 i UU'f .1. If Lender exercises the option to require immediate Fayment in full, Lender shall give Borrower notice of acceleration. The notice shal provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by ttìis Security Instrument without further notice or demand on Borrower. BY SIGNINGª..E...l0W, Borrower accepts and co::~ in .~iS tajUstable~~ate Rider. ~---- ~~~----- (Seal) --;:::::Eßy.:rtF-L"C5MEíi!------~ - B 0 r rower (Seal) -Borrower (Seal) - Bo rrowe r (Seal) -Borrower 0056224611 Q-838R (0402) ® Page 3 of 3 terms and JL covenants ~_ (Seal) -Borrower (Seal) -Borrower _~(Seal) -Borrower (Seal) -Borrower Form 31381/01 J;~,J ..:~~ .JLL (' (\ I"; A 1 ') '" ,} l., '-1 L s:.. INTEREST ONLY ADDENDUM TO ADJUSTABLE RATE RIDER TIns ADDENDUM is made this 23 rd day of November, 2005, and is incorvorated into and intended to form a pan of the Adjustable Ratc Rider (the" Rider") dated the same date as this Addendum executed by the undersigned and payable to FIRST HORIZON HOME LOAN CORPORATION (the "Lender"). TH1S ADDENDUl\l supercedes Section 4(C) of the Rider. None of the other provisions of the Ridcr arc changed by this Addendum. 4. INTEREST RATE AND MONTHLY PA YJ\1ENT CHANGES (C) Calculation or Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONE-QUARTER percentage points ( 2.250 %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth or one percentage point (0.125 %). Subject to the I imits stated in Section 4(D), this rounded amount will be my new interest rate until the next Change Date. During this Interest Only Period, the Note Holder will then determine the amount of the monthly paymenr that would be surficient to repay accrued interest. This will bc the amount of my monthly payment until the earlier of the next Change Dale or the end of the Interest Only Period unless I make a voluntary prepayment of principal during stich period. If I make a voluntary prepayment of principal during the Interest Only Period, my payment amount for subsequent payments will be reduced to the amount necessary to pay interest on the lower principal balanœ. At the end of the Interest Only Period and on each Change Date thereafter, tIre Note Holder will determine (hc amount of the monthly payment that would be sufficient to repay in full the unpaid principal that I am expected to owe at [he end of the Interest Only Period or Change Date, as applicable, in equal momhly payments over the remaining term of the Note. The result of this calculation will be the new amount of my nlonth]y payment. After the end of the Interest Only Period, my payment amount will nor be reduced due to voluntary prepayments. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Addendum. -c- ~~~QÁ _____---IYAY.JD" LOME1}-r-___~ *"" .r- \ \) -Z:JJ ò <)- ( DatV /-.(~-) ~ >j\\}\~J~ STEPHANÍ~ MARIE-LÓMELI \ l -L-!) D Date Date Dale Date Date Date Date 005622A611 . Interest Unly Addendum to ARM IÜeler Page I of I FIl6D03 U 9/04 J" ,", "1 ",)~ù 'jj ",I. ~ ---:.J' ':..L"""'_'''¡:¡'''''....:1,.; .:-. ("I P 4' 4 3 '.' ..) J TO BE RECORDED WITH THE SECURITY INSTRU1\lENT LENDER: FIRST HORIZON HOME LOAN CORPORATION 0056224611 BORRO\VER: DAVID LOMELI & STEPHANIE MARIE LOMELI PROPERTY: NNA SHIRAS DRIVE ALPINE, Wyoming 83128 RESIDENTIAL CONSTRUCTION LOAN RIDER INCLUDING SECURITY AGREE1\1ENT TO THE DEED OF TRUST/MORTGAGE THIS RESIDENTIAL CONSTRUCTION LOAN RIDER shall be deemed to amend and supplement the Deed of Trust/Mortgage (the "Security Instrument"), of the same date given by the undersigned (the "Borrower") to secure Borrower's Note ("Note") and Addendum to Note to Lender of the same date and covering the property (" Property") described in the Security Instrument. All terms defined in the Note and elsewhere in the SecuI"Íty Instrument shall have the same meaning in this Rider. AMENDED AND ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant ancl agree as follows: I. Residential Construction Loan Agreement. Borrower agrees to comply with the covenants and conditions of the Residential Construction Loan Agreement ("Loan AgreemCllt") between Borrower and Lender, which is incorporated herein by this reference and made a part of this Security Instrument. The Loan Agreement provides for the construction of certain Improvements ("Improvements") on the Property. All advances made by Lender pursuant to the Loan Agreemcnt shall be an indebtedness of Borrower secured by this SccuI"Íty Instrument as amended and such advances may be obligatory under the terms of the Loan Agreement. The Security Instrument secures the payment of all sums and the performance of all covenants required by the Lender in the Loan Ag."eement. Upon the failure of Borrower (0 keep and perform all the covenants, conditions and agreements of the Loan Agreement, the principal sum and all interest and orher charges provided for in the loan documents and secured hereby shall, at the option of the Lender, become due and payable. 2. Construction Loan Deed of Trust/Mortgage. This Security Instrument is a "construction mortgage" securing an obligation incurred for the construction of the Improvement on the Property including the acquisition cost of the Prope.-ty, if any, and any notes issued in extension, renewal, or substitution thereof. Borrower affirms, acknowledges and warrants that prior to the recordation of this RCLA Rider to Security Insrrument Page 1 of 5 8!20(ß HI6Dl6X \; j ...__~l 1',\4\,i\ -.1 .,"(."~¿,,,,,,,,,, ,¡ ,,,, <t rl '. i U [1 4 ,1 Secudty Instrument, as amended, in ¡he Real Properly Records of ¡he county or counties where the Property is located, no Improvements contemplated by ¡he Loan Agreement have been constructed, no work has been performed, and no materials have been ordered or delivered. 3. Future Advances. This Security Instrument shall secure in addition to the sum evidenced by the Note all funds hereafter advanced by Lender to or for the benefit of Borrower, as contained in the Contract and lor due under the Loan Agreement and all indebtedness or obligations presently or hereafter owed by Borrower to Lender, however arising, whether by note, contract, tort, guaranty, operation of law or otherwise; whether or not the advancL's or events creating such debts or obligations are presently foreseen; and regardless of the class of debts or other obligations, be they secured or unsecured or arising from commercial, credit card or consumer transactions; or for any other purpose. All future advances shall be made within the time limit authorized by the laws of [he State of Wyoming 4. Disbnrsements to Protect Security. All sums disbursed by Lender prior to completion of the Improvements to protect the security of this Secudty Instrument, up to the principal amount of ¡he Note and any future advances, shall be treated as disbursements pursuant to the Loan Agreement. All such sums shal1 bear interest from the date of disbursement at the rate stated in the Note 'md the Addendum to the Note, unless the collection from Borrower of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be col1ected from Borrowcr under applicable law and shall be payable upon notice from Lender to Borrower requesting payment therefore. 5. Assignment of Rights or Claims. From time to time as Lender deems necessary to protect Lender's interest, Borrower shal1, upon request of Lender, exec\lte, acknowledge before a notary, and deliver to Lender, assignments of any and all rights or claims which relate to the construction on the Property. 6. Breach by Borrower. In case of breach by Borrower of the covenal1lS and conditions of the Loan Agreement, Lender, at Lender's option, with or without entry upon the Propel"ty, (a) may invoke any of the rights or remedies provided in the Loan Agreement, or (b) may acœlerate the Sllms secured by this Security Instrument and invoke any of those remedies provided for in this Security Instrument, or (c) may do both although failure to exercise any of its rights and remedies at anyone time does not constitute a waiver or modification of any conditions, rights or remedies in the future. 7. Amortization and Loan Agreement. After the commencement of amortization of the Note, the terms of the Loan Agreement shall be deemed to have bCTn sat isfied. There shall be no claim or defense arising out of or in connection with the Loan Agn'clIlent against tl".: obligations of the Note and this Security Instrument. 8. Property. The property covered by this Security Instrument includes the property described or referred to in this Security Instrument, togelher with lhl.: following, all of \vhich are referred [0 as the "Property". The portion of the Property described below which constitutes real properry is sometimes referred to as the "Real Property". The portion of the Property which constitutes personal property is sometimes referred to as the "Personal Property", Jisted as follows: Any and all buildings, Improvements (provided in the Loan Agreement or otherwise), and tenements now or hereafter erected on the Property; any and all heretofore and hereafter vacated alleys 0056224611 RCLA Rider [0 Security Instrulllê'lt Page 2 of 5 812003 FH6LJ 16Y '"'I."¡~ij ,~j.; ~...:l..¿,~ i\ r. ,~ 4· r-) . uU'i \. and streets abutting the Property, easements, rights, appurtenances, rents (subject however to any assignment of rents to Lender), leases, royalties, mineral, oil and gas rights and profits, water, water rights and water stock appurtenant to the Property (to the eXlenl they are included in Borrower's fee simple tille); any and all fixtures, machinery, equipment, building materials, appl iances, and goods of every nature whatsoever now or hereafter located in, or on, or used, or intended to be used in cunnection with the Property and all replacements and accessions of them, including, but not limited to, the following items, which are hereby recognized by the parties to this instrument as fixtures: appliances for the purpose of supplying or distributing heating, cooling, electricity, gas, water, air and light; security and access control apparatus; plumbing and plumbing fixtures; refrigerating, cooking and laundry equipment; carpet, tloor coverings and interior and exterior window treatments; furniture and cabinets; interior and exterior sprinkler plant and lawn maintenance equipment; fire prevention and extinguishing apparatus and equipment, water tanks, swimming pool, compressor, vacuum cleaning system, disposal, dishwasher, range, and oven, any shrubbery and landscaping; any and all plans and specifications for development of or construction of Improvements upon the Property; any and all contracts and subcontracts relating to the Property; any and all accounts, contract rights, instruments, documents, general intangibles, and chattel paper arising from or by virtue of any transactions related to the Property; any and all permits, licenses, franchises, certifications, and other rights and privileges obtained in connection with the Property; any and all products and proceeds arising from or by virtue of the sale, lease, or other disposition of any of the Property; any and all proceeds payable or to be payable under each policy of insurance relating to the Property; ~Iny and all proceeds arising from the taking of all or part of the Property for any public or quasi-public use under any law, or by right of eminent domain, or by private or other purchase in lieu thereof; all building permits, certificates of occupancy, certificates of compliance, any right to use utilities of any kind including water, sewage, drainage and any other utility rights, however arising whether private or public, presem or future, including any reservation, permit, letter, certificate, license, order, contract or otherwise and any other permit, Jetter, certi ficate, license, order, contract or other document or approval recei ved from or issued by any governmental entity, quasi-governmental entity common carrier, or public utility in any way relating to any part of the Property or the Improvements, fixtures and equipment thereon; all other interests of every kine! and character which Borrower now has or at any time hereafter acquires in and to the Property, including all other items of property and rights described elsewhere in this Security Instrument. 9. Security Instrument. This Security Instrument shall be a security agreement granting Lender a first and prior security interest in all of Borrower's right, title and interest in, to and under the Personal Property, under and within the meaning of applicable statues of this state, located on or acquired for installation on or used in the operation of the real property, including, but not limitedlO, all construction materials, goods, equipment and fixtures, and all accessions, additions and replacements thereof. As well as a mortgage granting a lien upon and against the Real Property. In the event of any forec]osure sale all of the Real and Personal Property may, at the option of Lender, be sold ~jS a whole or in any part. I¡ shall not be necessary to have present at the place of such sale the Personal Property or any part thereof. Lender shall have all the rights, remedies am) recourses with respect to the Personal Property afforded to a "Secured Party" by the applicable statutes of this state in addition to ami not in limitation of the other rights and recourse afforded Lender under ¡his Security Instrument. BOlTower shall, upon demand, pay to Lender the amount of any am) all expenses, including the fees and disbursements of Lender's legal counsel and of any experts and agents which Lender may incur in connection with: (i) the making and/or administration of this Security Instnllnent; (ii) the custody, preservation, use or operation of. or the sale of, collection from, or other realization upon any property, real and/or personal, described in this Security Instrument, (iii) the exercise or enforcement of any of 0056224611 RCLA Rider 10 Securily Inslrumenl Page 3 of 5 8/2003 FH6D 16Z / -\1\;i "~Î, .oJ ~ -:._ "'--< cL (' '''\ r å L' (' ''''. ii'.) the rights of Lender under this Security Instrument; or (iv) the failure by Borrower to perform or observe any of the provisions or covenants in this Security Instrument. ] O. Completion. Lender shall not be responsible for the completion of the Improvements, and shall not in any way be con';idereti a guarantor or surety of performance by Borrower. In the event the Improvements are not completed according to the Plans and Specifications approved by Lender, and it is determined for whatever reason the Lender does not have a lien arising by or through Borrower, then Lender shall have a valid lien for its loan amount, less the amount reasonably necessary to complete the Improvements, or in such eve)[ Lender, at its option, shall have the right to complete the Improvements, amI the lien shall be valid for the loan amount. Paragraph 6 of the Security Instrument. The first sentence of paragraph 6 of the Security I nstrumcnt is hereby modi fied to read as follows: Borrower shall occupy, establish and use the ProPl...t)' as Borrower's principal residence within sixty (60) days from the execution of [he l\lodification Agn:ement and shall continue [0 occupy the Property as Borrower's principal residence for at least one (1) year uner the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. All other provisions in Paragraph 6 of the SeCllrity Instrument remain unchanged. ] I. Invalid Provisions. If any provision of this Security Instrument is declared invalid, illegal, or unenforceable by a court of competent jurisdiction, then such invalid, illegaJ or unenforceable provision shall be severed from this Security Instrument and the remainder enforced as if such invalid, illegal or unenforceable provision is not a part of [his Security Instrument. 12. Address. The name and address of the Borrower/Debtor during construction of the 1m provements is: DAVID LOMELI & STEPHANIE MARIE LOMELI 92 ASHLEY DRIVE ALPINE, Wyoming 83128 The name and address of the LenderlSecured Party is: FIRST HORIZON HOME LOAN CORPORATION 1315 SOUTH HIGHWAY 89, SUITE 101 JACKSON, WY 83001 ] 3. Other Provisions. The following notice is required by law: Il\œORTANT NOTICE: YOU ARE HEREBY NOTIFIED THAT ANY PERSON PERFORMING LABOR ON YOUR PROPERTY OR FURNISHING MATERIALS FOR THE CONSTRUCTION, REPAIR, OR IMPROVEl\lENT OF YOUR PROPERry \\'ILL BE ENTITLED TO A LIEN AGAINST YOUR PROPERTY IF HE IS NOT PAID IN FULL, EVEN THOUGH YOU MAY IIA VE PAID THE FULL CONTRACT PRICE TO YOUR CONTRACTOR. THIS COULD RESULT IN YOUR PAYING FOR LABOR AND MATERIALS TWICE. TIllS LIEN CAN BE ENFORCED BY TilE SALE OF YOUR PROPERTY. TO A VOID THIS RESULT, YOU MAY DEMAND FROM YOUR CONTRACTOR LIEN WAIVERS FRO!\l ALL PERSONS PERFORl\UNG LABOR OR FURNISHING MATERIALS FOR THE \VORK ON YOUR PROPERTY. YOU MAY WITHHOLD PA YMENT TO THE CONTRACTOR IN THE AMOUNT OF ANY UNPAID CLAIMS FOR LABOR 0056224611 RCLA Rider [0 Securily InSfrlllnenl Pag:: 4 of 5 8!2003 Fli6D t 7 A It..¡ ~;;\ '¡;:,: ~~ ,~__.i-'.-C-" ~.J.:L.lL·~ !...... . (...! A i'. ~'I . ',) .J '-1 :l . FOR lVLi\TERIALS. YOU ALSO lIA VE TIm RIGHT TO DEMAND FROM YOUR CONTRACTOR A COMPLETE LIST OF ALL LABORERS AND MATERIAL SUPPLIERS UNDER YOUR CONTRACT, AND THE RIGHT TO DETERMINE FROM THEM IF Tlmy HAVE BEEN PAID FOR LABOR PERFORJ\IED AND MATERIALS FURNISHED. By signing below, Borrower accepts and agrees to the terms and covenants contained in this Residential Construction Loan Rider. ~~=-t"~~Q~ /Böí'r:QW.er-·-'DA vIí5:LÕMELI,__S ",'- ---- - ____5~tJ~~iL Borrower sHi H IE MARIE LOMELI Borrower Borrower Acknowledgments Allached Please attach the Appropriate Counly/Stale Specific NOlary Acknowblgment 0056224611 RCLA Rider 1<1 Securi!y lnstrumem Page 5 of 5 ¡;/2003 FII6D 17B . .'., AI. "i1 .'\1 ':_~~ " ~-_~,' ·;_Ji .JLJL . "~A4n " :'.; t} L1 b State of ¿'uí CWI~ ) )ss County of {zvCD;) ) The foregoing instrument. was acknowledged before me this J-~day of 4~..¡.-h.aý' t 2005 by hvutc( Lðv1.".¿ (; ..¡.... S-feF'Æ.CU~€ M:LtrÌ<2-- ~O¡/¡..,Q.,{ ¡' Witness my hand and officfaJ seal. b =--~.LÙ>~-<- Notary Public L~ My Commission Expires: to (S ['2-0::>1 f-!'·-~·Þ"':'.~~~;:::'~~~~:~:;:~~~~:~~_~~~~~'-~~ ~ I. ..I...J I. ~J'f._":<, :,~.l\\'¡ : ~f.,:",ü 1 ~ C:':.H.tyof t:;)i;0 S!aie 0f \ J ·"..-,·.Ir· 'i;~,~,"" I'll....' ",' ",I V .....~.-.:...,.JI I .:...'..:.};7 "JIUi~d"\;I :i UI/ CG"(":~:;::;$\m E~~;,"ss J.~ls rUti5Ji::J '. ~'0~·~~v"'V~,"",:":,,,,"'¿'~ .:.;...