Loading...
HomeMy WebLinkAbout914204 1, /. , . Ir¿;¡¡t' í m "f' j;¡ t"i",ë";" tJ ;. (':, [1 !'" ,:: .~~ ..... '.' '.J é vi Remm To; WFHM FINAL DOCS X9999-01M 1000 BLUE GENTIAN ROAD EAGAN, MN 55121 Prepared By: WELLS FARGO BANK, N.A. 1919 DOUGLAS" OMAHA, NE 681010000 IS¡JUce Above This Line For Recunling Datal-~ --~~- MORTGAGE RECEIVED 12/5/2005 at 4:14 PM RECEIVING # 9'14204 BOOK 606 PAGE: 761 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, VVY DEFINITIONS Words used in multiple sections of this document an.~ ddined below and other words are ddiued in Sectiolls 3, ]], ] 3, ] 8, 20 and n. Cenain IUJeS regarding dle usage uf words used jn ÛJis ducuI1lem arc aJsu pfOvided in Section ]6. (A) "Security Instrument" means dlÍs documellt, which is dated DECEMBER 02, 2005 togedler widl all Ridêrs to dlÍs document. (B) "Borrower" is TRAVIS E HUCKABY AND KELLIANNE HUCKABY, HUSBAND AND WIFE Borrower is the mortgagor under this Security lnstrumeut. (C) "Lender" is WELLS FARGO BANK, N .A. Lender is a NATIONAL ASSOCIATION organized and existing under dle laws of THE UNITED STATES 0048922959 WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 ~ -6(WY) (00051 ~® ~ ~Ij: \I Page: 1 of 15 Inlti..ls: '; r'. t'..... VMP MORTGAGE FORMS· (8001521·7281 ,; ~ :-L :CL :4· (. ,_, (; ! '.' '....' r) '.' ~\) i.; : l.J t- Le:l1de:r's addœss is P.O. BOX 10304, DES MOINES, IA 503060304 Le:l1de:r is the mortgagee: under this SecurÍly lustrument. (D) "Note" means ùle promissory note signe:d by Borrower and date:d DECEMBER 02, 2005 The: Note states wat Borrowa owes Lellda NINETY NINE THOUSAND SIX HUNDRED AND 00/100 Dullars (U _So $ * * * * * 9 9,600.00 ) plus imerest. Borrowe:r has promised to pay this de:bt in regular Periodic Payments and to pay Ùle: debt in full not lata Ùlan DECEMBER 01, 2035 (E) "Property" meaw; ùle propeny Ùlat is described below under the heading "Transfer of Rights in ùJe Property. " (F) "Loan" me:ans ùle debt e:videnced by ùle Note, plus imerest, any prepayment charges am!!ate charges due under the: Note, and all sums due under Ùlis Security Instrument, plus iIltaest. (G) "Riders" meaus all Riders to ùlis Security Instrumem wat are executt:d by Borruwer. The fullllwing Riders are (0 be executed by Borrower [check box as applicable): W Adjustable Rate Rider D Balloon Rider D VA Rider D Condominium Rider D Second Home Rida D Planned Unit Developmem Rider D 1-4 Family Rider D Biweekly Payment Rider D Other(s) lspecil}/ (II) "Applicable Law" means all comrolling applicable federaJ, state and local statutes, regulations, ordinances and administrative rule:s and orders (that have ùle effe:ct of law) as wdl as all applicabk iÏnal, non-appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" me:aus all dues, fees, assessmenrs and (¡[.her charges Ùlat are imposed on Borrower or ùle Property by a couduminiu1lJ associatioJl, llU1Ueu\\Jlers association or similar orgaI1Ìzation. (J) "Electronic Funds Transfer" means any transfcT oí funds, oùla than a transaction originated by check, draft, or similar paper instrument, which is initiated ùlrough au electronic terminal, telephonic instrumem, COIl¡puter, or lnagnetic tape so as (0 order, instruct, or autllOrize a íÏnancial institution (( debit or credit an account. Such term includes, but is not IiII1Ìted to, poim-of-sale trallsfers, automated teller machine transactions, transfe:rs initiated by tdephone:, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those ite:ms ùlat are described in Section 3. (L) "l\1iscellalleous Proceeds" means any compensation, Selt!ellltnt, award of damages, or proceeds paid by any ùlÍrd party (oùle:r ùlau insurance procee:ds paid under the coverages described in Secrion 5) for: (i) damage to, or desrruction of, Ùle Propary; (ii) condemnation or otlla tabng of a]] or auy pan of tlle Property; (iii) cOII\'e:yallce in lieu of condeulllation; or (iv) misrepresentatioJls of, or oulissioJlS as ro, ùre value and/or condition of Ùle Property. (M) "Mortgage lnsurance" llle:ans insurance prote:cting Lende:r against the: nonpaywelll of. or defaul( on, ùle Loan. (N) "Periodic Payment" me:ans tlle reguJarJy scheduled alllounr due for (i) priucipal aud imerest under ùle Noœ, plus (ii) any amounts under Section 3 of ù1Ís Security Ins[rullle:nt. (0) "RESPA" means ùle Real Estate Sell!elllent Procedures Au (11 U.S.c. Section 1601 et se:q_) and Íls implememiug regulation, Re:gulation X (14 C.F.R. Pan 3500), as rhey nlight be amended frow [ime: ro time, or any additional or successor kgislation or regulation that govems tile saIne subjecr malter. As used ill ù¡is Security Instrument, "RESPA" rdÚs to all require:lllellts and restrictions Ùlat are imposed in regard to a "federally related mortgage loan" eve:lI if ùle Loan does nut quaJit}; as a "federa1Jy rdated lIlortgage loan" under RESP A. tmr:-. -6(WY) 100051 ~® .-' / i ~¡ \+ Inlllols ' " 1__ P..gc 2 of 15 Form 3051 1/01 Ä:G-i ('. '''''. r~ t' r ,"'\ f1 , ',j t , t) .:) (P) "Successor in Interest of Borrower" means any party Ùlat ltas là!.:èU title to thè Propèny, whètj¡er or not Ù1at party has assumed Borrower's obligations uuder Ùlè Note and/or dÜs Sècurity Instrumè1ll. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) Ù1e repaymènt of dlè Loan, and a]] reuewals, extensiolJs alld modiíìcalÌolls of dle Note; and (ii) the performance of Borrower's covenams and agreemeu[s under ùÜs Security InstruIllènt and ùle Note. For ùlÌs purpose, Borrower does hereby lllongage, gra1ll and coU\'ey to Lender and Lender's SUCCèssors and assigns, with power of sale:, Ùle followiug described pmpeny localed in ùle COUNTY of LINCOLN [Type of Recordiug Jurisdictioll] [Name ofl,ecorJillg J urisJielioll] LOT 2 OF EMIGRANT MEADOWS SUBDIVISION, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT NO. 225-B FILED OCTOBER 8, 2003 AS INSTRUMENT NO. 894227 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. *SEE ADJUSTABLE RATE RIDER TAX STATEMENTS SHOULD BE SENT TO: 10304, DES MOINES, IA 503060304 WELLS FARGO HOME MORTGAGE, P.O. BOX Parcel ID Number: 12-3219-06-1-00-503 101 WAGON RUT LANE AUBURN ("Propeny Address"): which curremly has Ùle address of [Slrtelj [City] ,Wyoming 83111 [ZipCoJt] TOGETHER WITH all Ùlè improvèl1lems now or hèIèafler erèCled 011 Ùlè propèny, and all easelllèIUS, appurtenanCès, and fixtures now or hereaftèr a pan of ùle property. A]] replacemèl1ls and additions shall also bè covered by ù1Îs Sècurity Instrumem. All of Ùle forègoj¡lg is retì:rIéd to in ùlis Sècurity Instrument as Ù1e "Propeny," BORROWER COVENANTS ùlat Borrower is lawfully seised of Ùlè èStale lrereby couvèyed and has ùle right to mongage, gram and convèY thè Property and ùlat ùle Property is UJlèllClll11bered, except for èncUlubrancès of record. Borrower warrams and will dèfend gellera]]y Ùlè title to dle Property against all claims and dèmands, subject to any encumbrances of record. Tl-nS SECURITY INSTRUl'v1ENT combinès uniform covenants for lJational use aud uou-unifonll covenants WiÙl limited variations by jurisdiction to constitute a uniform security iustruJ1lèJll covering real propèny. UNIFORlvl COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Pdncipal, Interest, Escrol\' Items, Prepayment Charges, and Late Charges. Borrower shall pay when dUè the principal of, and Ì1uerèsl on, tÜe debl evideJlced by lhe NOle and all)' prepaymem charges and late charges dUè under ùle Note. Borrower shall also pay funds for Escruw ilems pursuant to Section 3. Payments due Ullder dIe Note and dlÌs Sècurity Instrument shall be made in U.S. currency. However, if any check or oùler instrumem received by Lender as paymem uuder the Note or ùlÌs "/(1/'\ \ Initials j t- \í C -6(WY) 100051 @ F'ilgE: 3 Of 15 Form 3051 1/01 r· :~,' (). 0 : ~" G ~± , . ~ ,,. ~....i-tt Security InstfUmem is returne:d to Le:nder unpaid, Lenda lllay re:quire: ù¡at any or all subse:que:ll( payme:lUs due under Ùle: Note and this Security InstfUJ1le:nt be made in one or lllore of ùle foJ\oll'illg fl!Tms, as sdected by Lender: (a) cash; (b) money order; (c) cenified check, barJ1: check, treasurer's check or cashier's check, provided any such check is drawn upon an institutioll wJlUse de:posits are insured by a federal agency, illStrumemality, or entity; or (d) Electronic Funds Transfer. Paymems are deemed rece:ived by Le:nder when received at ùle Jocation designated in ùle Note l!T at such oùler location as may be designated by Lender in accordance \ViÙl the notice provisions iu Sc:ctiulJ 15. Lender may return any payment or partial paymeIU if ù¡e payment or partial paymems are Ü¡sufticiC:j ( LO bring ùle Loan current. Lender Ulay accept any paymeut or partial paymeJJl insufticieut to bring the Loan currell[, without waiver of any rights hereunder or prejudice to its rights to refuse such paymem or panial payments itl ùle future, but Lender is not obligated (() apply such payments at dIe time suell payments are accepted. ]f each Periodic PaYUJe:llt is applied as of its schedukd due date, ùlen Lender nc:ed not pay interest on unappJied funds. Lender may hold such unapplied funds wui] BUlTower makes paymeJJt to bring ùle Loan currem. If Borrower does nut do so wiùlin a rc:asol1abk paiod of timc:, Lc:nda shall either apply such funds or return ùlemto Borrower. If not applied earlier, such funds will bc: app]ic:d [(¡ the outstanding principal balance under the Note imlllediatdy prior to foreclosure. No offset or claim which Borrower lllight have now or in the future agaiust Lender shall relieve Borrower frum making paymeJJls due under the Note and dlÌs Security Iustrument or performing the covenants and agreements secured by this Security Iustrumem. 2. Application of Payments or Proceeds. Except as otÍ1erwise described in this Section 2, all payments accepted aud applied by Lender shall be applied in tile following order of prioriLY: (a) imc:rest due under dIe Note; (b) principal due uuder the Note; (c) amounts due under Section 3. Such payments shall be appJied to each Periodic Payment in the orda in whiclJ it became due. Any rem;ù¡úng a1lJOUIUS shall be applied tîrst to late charges, second [0 any oùler amounts due under this Security ]nsLfllmeJl(, and then to reduce tile principal balance of ùle Note. If Lender receives a payment from Borrowc:r for a delinquent Paiodic Paymc:nt which includes a sllftìciell! amOUll! to pay any late charge due, ùIe paymelll may be applied to ùIe delillquem paymelll and ùIe late charge. If more dlan OUe: Periodic Paymem is outstanding, Lender may apply any paymeuL rece:ivC'd from Borrower to ùle repaymellt of ùle Periodic Payments if, and to the extelll dlat, each paymC:1ll call be paid in full. To ùle extem dIat any excess èXjStS after the paymem is applied to ùle full paymem of one or more Periodic Payments, such excess may be applied to any late charges due. Volumary prepaymc:nts shall be applied tîrst to auy prepayulèDt charges aud tIleH as describèd ÜI ùIe Note. Any application of payments, insurance procc:eds, or Miscellaneous Proceeds to principal due under the Notè shall not extend or postpone dle dUè dare, or change dle amount, of Ùlè Paiodic Paymellls. 3. Funds for Escrow Items. Borrower shaU pay to Lender on ùle day Paiodic Paymellls arc: due lillder tile Note, ulllil the Note is paid in full, a Slim (dIe "Funds") LO provide for payment of amounts due for: (a) taxèS and assessmèms and oùla Ìle:ms wlùch can attain priority over ÙJis Security lustrumelll as a lien or encumbrance on dIe Property; (b) leasehold paymC:llls or ground rents on the: Property, if any; (c) prenlÌUlus for any and all insurance required by Lender ullder SectÍl)jj 5; alld (d) Mortgage Insurallce pre:JJli, ums if any, or any sums payable by Borrower to Lenda ill lieu of tile paymelJ! of Iv!ortgage Insurance premiullls in accordance WiÙI the provisions of Section 10. Thèse items are called "Escrow Items." At origination or at any time duriug ùIe term of the Loall, Lellder may require Ùlat ComIJIunity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, alld such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of anwums to be paid under ÙJis Section. Borrower shall pay Lender ùle Fuuds for Escrow Items unkss Lender wai VcS Borrower's obJigatioll to pay ùle Funds for allY or aU Escrow ItelllS. Lender may waive Borrower's obJigation to pay to Lender Funds for any or aU Escrow Items at any time. Any such waiver may only be in writing. In ùle evelll of such waiver, Borrower shall pay directly, when and whac: payable, the alllOUJl(S ~ ,6(WY) 10005) ® ,/:j }/ \ I Initials ;...., 1 _,n P<:igf:: 4 of 15 Form 3051 1/01 - (-. (..... r~:" r~ ~..~ ',.i \..' , ü J due for allY Escrow hems for which paymeJl( of Funds has been waivtd by Lemler and, if Ltnder rtquires, shall furnish [0 Lenda rc:ceipts evidellcing such paYll1em witl1in such time paiüd as Lemler may require:. Bonowa's obligation to make such payments aIld LO pJ( vide rtceipts shall for all purposes be detlJ1ed to be a covelllilH aIld agrc:emem contained in ùlÎs SecurÜy lns[rumeIlt, as Ùle phrase "covenam and agree1lJem" is used ill Section 9. If Borrowèr is obligated to pay Escrow Items directly, pursuaJl( to a waiver, ami Borrowa fails to pay ùle alllount due for an Escrow ltem, Lwder may eXèrcise its riglHs undtr Stc¡jon 9 and pay such amoum and Borrower shall then be obligated under Stc[ion 9 to rtpay to LeIldtr any such amouJl[. Lender may revoke Ùlt waiver as [u any or all Escrow lttlllS at any timt by a nutice given in accordance: WiÙl Section 15 aud, upon such revocatjoIl, B01Towèr shall pay to Lender all FUIlds, alld in such amoullts, that arc: Ùlen requirc:d under this Section 3. Lender may, at any time, colkct and hold Funds in an amoum (a) sufficiem [0 pellIlÜ Lender LO apply ÙlI:: Funds at ùle time specified under RESPA, and (b) not to excetd Ùle nlliximum aHlOUIll a knder can œquire under RESPA. Lwda shall estimate ùle amount of Fuuds due on Ùle basis of current data and reaso:uable estimates of expenditures of future Escrow Items or oÙlèrwise in accordance will) ApplicabJe Law. The Funds shaj] be held in an institution whose deposits are iusured by a federal agency, instrumentality, or entity (including Lender, if Lender is an insti tUlion whose deposi ts are so jnsured) or ill any Federal Honte Loan Bank. Lenda shall apply ù)e Funds to pay the Escrow hems l]O lata thall Ùle time speciíìed unda RESPA. Lwder shall not charge Borrower fDJ' holding and applying the Funds, annually a:ualyzing ùle escrow account, or vaifying ùle Escrow Items, unkss Lender pays Borrower iJJtefès¡ on die Funds and Applicable: Law permits Lenda to make such a charge. Ulùess an agreelnem is nllide in wrÜing or Applicabk Law requires interest w be paid OIl we Funds, Lender shal1 not be required to pay Borrower any inteœst or earnings on the Funds. Borrower and Lender can agree in wri ting, however, Ùlat illteresl shal1 be paid on Ù1e Funds. Leucler shal1 give to Borrower, wiùlOut charge, an annual accouming of Ùle Funds as required by RESP A. If dIne is a surplus of Funds held in escrow, as detil1èd under RESPA, Lender shal1 account [() BorrowèT for ùle exCtss funds in accordance wiùl RESP A. If ùlere is a shortage of Funds held in escrow, as detìllèd under RESPA, Lender shal1 notify BOITowèT as œquiœd by RESPA, and Borrower shall pay to Lenckr the amount J1èCtssary to make up the shortage in accordance wiùl RES!'A, but in no lllort Ùlan 12 monÙ1ly payments. If there is a ddiciency of Funds held in escrow, as ddïntd under RES? A, Lender shaH notify Borrowèl" as required by RESPA, and Borrower shaH pay to Lwder tlle: allloum l1ècessary [() make up Ù1e deíìciwcy in accordanCt wiù) RESPA, but in no more tllan 12 month]y paymems. Upon payment in full of all SUIllS secured by dlÎs Security Instrulllent, Lemler shal1 promptly rtfund to Borrower any Funds held by Lwder. 4. Charges; Liens. Borrower shaH pay all taxes, asseSSllltnts, chargts, tines, and impositions attributable: to ùle Proptny which can attain priority over this Security lnstrumellt, kaselwld paYlllellls or ground rents on ùle Propeny, if any, and Community Association Dues, Fees, and Assessments, if any. To Ùlt extent Ùlat dlese items are Escrow Items, Borrower shall pay them in ùle manner provided in Section 3. Borrowtr shall promptly discharge any lien which l1as priority over dlis Security Instrument ullkss BorrowèT: (a) agœes in writing to ùle payment of ùle obligation secuœd by Ùlè lien in a lrllillller acceptable to Leucler, but only so long as Borrower is performing such agreemellt; (b) colltests tile liel] in good faith by, or defends against enforCtmeIlt of [he lien in, legal proceedings which in Lender's opinion operate to prevent ùle ellforCtlllent of ùle lien while ùlOse proœedings are pending, but only umil such proceedings are concluded; or (c) secures ÍÌ'01ll ùle holder of dle lien an agreeJllelll satisfactory tu Lender subordinatillg the lien to ùÜs Security Instrument. If Lenda determillèS that any pan of ¡he Property is subjecl LO a lien which can attain priority over tlÜs SecurÜy Instrument, Lender may give Borrower a notice idemifying dIe: (Q-6(WY) (00051 <!! Jnili",Js "fori yd-t Pêogc: 5 of 15 Form 3051 1/01 .,' ;,-, {l ,- "/".... r-', !". ("- /""'.. ',) U , v (} lien. Within 10 days of the date ou which dlat notice i~ given, Borrower shalJ satisfy the lien or take one or more of ùle actioIls set forÙl above ill ¡his Section 4. Lender may require Borrower to pay a oue-time charge for a real eState tax veritication and/or reporting service used by Lender in cOllllection WiÙl ùlÎs Loan. 5. Property Insurance. Borrower shall keep ¡[Ie impmveIllems uow existing or hereafter en:cled on ¡[Ie Property insured against loss by fire, hazards i¡¡cluded witllÎn the term "extended coverage" and auy oilier hazards including, but not limited to, earthquakes and Hoods, for which Lender req uin:s insurance. This insurance sha]] be maintained in the allloums (including deductible levels) and fur tl¡e periu[J:; d¡ar Lender requires. What Lender requires pursuam to tile preceding sentences can change during d¡e term of tIle Loau. The insurance carrier providing dIe insurance sha]] be chosen by Borrower subjecI (() Lender's right to disapprove Borrower's choice, which right shall not be exercised umeasulJ;,¡bly. Lemler lllay require Borrowa [0 pay, in cOllllection widl ¡[lis Loan, eidler: (a) a one-time charge fur flood zone deternúnation, certification and tracking services; or (b) a olle-time charge fur flood zoue deLennin;HioJ1 and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such delaminatiou or cerriticatiou. Borrower sha]] also be responsib1e fur ¡[Ie payment of any fees imposed by tIle Federal Emergency rvlanagemeJlt Agency in C[)llJ¡ectiuu with the review of any t100d zone detertniuation resulting from an objection by Borrower. If Borrower fails tu maintain any of ùle coverages described above, Lender nUlY obtain insurance coverage, at Lender's option and Borrower's expense. Lender is uuder no oblJgatjou LO purchase any paniclJlar type or amount of coverage. Therefore, such coverage shaH cover Lender, but JllÎglll or núght nOI protect Borrower, Borrower's equity in ¡[le Pruperry, or ¡[Ie contents of dle Property, against allY risk, hazard or liability and mighl provide greater or lesser coverage dlau was previously in effect. Burrower ackuowledges ¡[lat ¡[le cost of ùle insurance coverage so obtaillèd l1úght signiticamly exceed dle cost of insurance ¡[lat Borrower could have obtained. Auy amoums disbursed by Lender under tI!Îs Section 5 shalJ become additional debt of Borrower secured by Ù1is Security Instrument. These amouJJ(s sl¡al1 bear imerest at tile Note rate from tIle date of disbursemeJlt alld shaH be payable, with such imerest, UPUIl notice from Lender !O Borrower requesting payment. All insurance policies required by Lender and renewals of SlJch policies s1la11 be subject tu Lender's right to disapprove such policies, shall include a standard mortgage clause, and sllall ml11e Lender as mortgagee and/or as an additional loss payee. Lender shal1 have die right to hold ¡[Ie policies aud renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipls of paid premiuUls and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, tile Property, SUdl policy sha11 include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. III dIe event of loss, Borrower shall give prompt notice (lJ ù¡e insurauce carrier and Lender. LeJlder may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower oÙlerwise agree in writing, any insurance proceeds, whetller or not tile underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if dIe restoration or repair is economically feasible and Lender's security is not lessened. During such repair and res(lJration periud, Lender sl¡all have dle right [() hold such insurance proceeds until Lender has had an opportunity to inspect such Properry to ensure tI¡e work has beeH completed to Lender's satisfaction, provided Ùlat SlJL:h inspection sha11 be uudertaken promptly. Lender may disburse proceeds for ùle repairs and reswratiuJl in a single paymem or in a series of progress payments as ùle work is completed. Unless all agreement is made in writing or Applicab1e Law requires interest to be paid on such insurance proceeds, Lender shal1110t be required to pJY Borrower any imerest or earnings on such proceeds. Fees for public adjusters, or oùler ùlird parries, reLained by Borrower sha11 not be paid out of ùle insurance proceeds and shall be ùle sole obligation of Borrower. If ùle restoration or repair is not economically feasible or Lender's security would be lessened, tIle iusurance proceeds shal1 be applied !O dIe sums secured by this Security Instrumem, whe¡[1er or uot t1Jen due, with ~. -6(WY) /00051 ~C!) /1.' I Inítiõ;;ls:~ ~1~1 Póge 6 of 15 Form 3051 1/01 ;' r", roo t·· ¡-.. .....'-'1 ..,.... t, ( t..J .... ùle excess, if any, paid to Borrowèl. Such insurance proceeds shall be applied in the ordc:r provided for in Sec Lion 2. If Borrower abandons ùIe Property, Lender may tile, negotiate and sellk any available insurance claim and related matters. If Borrower does nut respund widlilJ 30 days to a nutice from Lendc:r ÙIat the imuram:e carrier has offered to se([le a claim, then Lellder may negutiate and settle the claim. The 30-day period will begin when ùle llOtice is given. In eiùier evem, or if Lellder acquires ùIe Prupeny under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Burrower's riglltS to any insurance proceeds in an aUloum nut to exceed ùle amounts unpaid under dIe Note or t¡lis Security Instrument, and (b) any other uf Borrower's rights (oùler than (he riglu to auy refund of uneamed premiullls paid by Borrower) under all insurance policies covering dle Pruperty, insofar as such rights are applicable [0 die coverage of dle Property. Lender may use ùle insurance proceeds eiùler to repair or reswre the Prope:ny or to pay amounts unpaid unda ùle Note: or this Security Instrument, whether or not tllen due. 6. Occupancy. Borrower shall occupy, establish, and use dIe PJOperty as BOf[(Jwer's principal residence widliu 60 days after ùle execution of d1Ís Security Instrumem and shall cOJl[inue to occupy the Property as Borrower's principal residence for at least une year aher die date: of uccupancy, unless Lender OdIeJwise agrees iu writing, which consent shall not be uureasouably withhdd, or unless extenuating cÍfcumsraru.:es exist which are beyond Borrower's COntrol. 7. Preservation, :Maintenance and Protection of the Property; Inspections. Burrower shall nUl destroy, damage or impair the Property, allow the Property to deteriorate or cunllllit waste on diè Property. WheÙ1er or not Borrower is residing in the Property, Burruwer sha]] maiurain the Property in order [(¡ prevent the Propeny from deteriorating or decreasiug in value due to its condition. Unless it is determined pursuant to Section 5 dlat repair or restoration is not ecollomically feasible, Borrower shall promptly repair dle Property if damaged to avoid furùler deterioration or damage. If insurance or condèumation proceeds are paid in cowlection widl damage to, or tÜe laking uf, tIle ['wpeny, Burrower shall be responsible for repairing or restoring the Propaty ouly if Lender has released proceeds fur such purposes. Lender Jllay disburse proceèds for dJe repairs and restoration in a single paymem or in a series of progress payments as Ù1e work is completed. If dle insurance or condellllJ,¡uion proceeds are nut suHiciem to repair or restore ùle Property, Borrower is nut relieved of Borrower's obligation for dIe completion of such repair or restoration. Lender or its agent Iliay make reasonable emriès upon and inspectiulls of dle Propèny. If it has reasouable cause, Lender may inspect Ùle interior of the improvements on the Property. Lelldèr shall give Borrower llOtice at the time of or prior to such an interiur inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during dle Loan application process, Borrower or any persons or entities acting at dJe direction of Borrower or widl Borrower's knowledge or consent gave materially false, misleading, or inaccurate information ur statemems [() Leuder (or failed to provide Lender witil material illfunnation) in c01111èclÌon with [he Loan. I'vla[erial represemations include, but are not lin1Íted to, representations concerning Borrower's uccupancy of dJe Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Linder this Security Instrument. If (a) Borrower fails [(J perform dle covenants and agreemems contained in [¡lis Sècurity lmtrumem, (b) dlere is a legal proceèding Ùlat might siglliíÏcamly affect Lender's imerest in Ùle: Propeny and/or rights under Ù1is Security Instrumem (such as a proceeding in bankruptcy, proba[e, fur condèllUlation OJ fOJfeiturt, fur enforcèment of a lien which lllay a([ain priority over dlÎs Security lnstrulllem or to enfurce la IVS or regulaLiom), or (c) Borrower has abandunèd dle Property, ùlen Lender lllay do and pay for whatever is reasonable or appropriate to protect Lender's interest in ùle Pwperty and rights under ¡J¡js Security Instrument, including protecting and/or assessing die value of ùle Property, and securing and/or repairing Ù1e Propèny. Lènder's actions can include, but are not limited to: (a) paying any sums sècured by a lien which has priority over ÙllS Security lnstrumem; (b) appearing in court; and (c) paying reasonable C®-6(WY) 100051 Page 7 of 15 Illltlals;-r! ¡J-+ Form 3051 1/01 --"';C~~'G8 attoIDeys' ft:es to protect its interest in Ùle Property and/or rights undt:r ùJÌs St:curity InslJumt:llt, including its st:cured position in a bankruptcy proceeding. Securing Ùle Property indudes, but is not limited tu, elllering We Property to make repairs, change locks, replace or board up dours and windows, drain water hom pipes, eliminate building ur oùler code violations or dangeruus conditions, and have ulilities [Umed on ur off. AlùJOugh Lender may take action ulider ùÜs Section 9, Lender does not Ila I'e to do so ami is not under any duty or obligation to do so - It is agreed Ùlat Ltnder incurs no liability for not taking any or all actions aUù10riztd under ùlis Stction 9. Any amounts disburstd by Lender uudtr ùlis Section 9 shall btcomc: additioJlal debl of Bunoll'tr secured by wis Security Instrumtnt. Thest amounts shall bear interest at ùle Note rate from tltt date of disbursement and shall be payabk, WiÙl such imC:fèst, upon notice from Lt:nder to Burrower requesting payment. If ùJÌs Security Instrume1lt is on a kasehold, Borrower shall comply witll all tile provisions of the kase. If Borrower acquires fee title to the Propeny, tl1e kasehold and Ùlt: fee litk shalJ nOl Illt:rge unless Ltnder agrets to the merger in writing. 10. :Mortgage Insurance. 1f Lender required ~vtongage Insurance as a condition of making the Loan, Borrower shall pay the prt:l1liums required to maimain ùle Mortgage Insurance in effect. 11', fur any reason, Ùlt tvlongage Insurance coverage required by Lenda ct:ases to be available fr01ll the mortgage insurer that previuusly pmvided such insurance and Borrower was required to make separately desiglLlled paymems toward ùle prt:lllÍums for Mortgage Insurance, Burrower shall pay ùle premiums required to obtain coverage substantially equivalent LO tile 1\-!ortgage Insurance previously in effect, at a COSt substamially equivaJem to the cost to Borrower of tile Mortgage IlJsurance previously in dfect, from an allenJale mortgage insurer sdected by Lender. If substJIUially t:quivale11l Murtgage Insurance coverage is not available, Borrower shall continue to pay to Lender Ùlt amount of ùle separately designated paymentS that were due when me insurance coverage ceased to be in effect. Lender will accept, use and retain tllese payments as a non-refundable loss reserve in lieu of _Mortgage Insurance. Such loss reservt: shall be nOlHefuudable, llOtwiùlstanding We fact ùlal tht Loan is ul timatel y paid in full, aad Lt:11der shaH not bt rtquired to pay Borrower any interest ur earnings on such loss reserve. Lender can no longer require loss reserve paYJlJènts if Mortgage Insurance coverage (in tllè alllouat aad fm tile period tilat Lender requires) provided by an insurer selected by Lènder again bècullles avaiJabk, is obtained, and Lemler requires separately designated paYlllems toward tile premiums fm Mongage Insurance. If Lender required Ivlongage Insurance as a condition of making Ùle Loan and Borrower was required [() make separatdy desigœued payments toward tile prenúulUs for Mortgage lasurance, Borrower shaH pay the prelniullls requirèd to maintain tvlongage Insurance in effect, or to provide a non-rdundable loss resèrve, umil Lender's requirement for Mortgage Insurance ends in accordance witl] any written agreement betweèll Borrower and Lendtr providing for such termination m until termination is required by Applicabk Law _ Notlring in tl1is Section 10 affects Borrower's obligatio}} to pay iIUereSt at the rate provided in tile Note. Mortgage Insurance reimburses Lender (m any entity ùlat purchases ùle Note) for certain losses it may incur if Borrower does not repay Ùle Loan as agreed. Borrower is not a pany to dle Ivlongage Insurance . Mortgage insurers evaluate ùleir total risk on all such insurance in fmce from time lo lime, and may enter into agreemtnts wim Oùler parties Ùlat share or modify ùleir risk, m reduCè losses_ These agreemelHs art on terms and conditions ùlat are satisfactory to ùle mortgage insurer and thè otller pany (m panies) to tllese agreemems. These agreements may requirè ùle mortgage insurer to makt paymèJltS using any source of funds dlat tllè mortgage insurer lllay have available (wlrich may includè funds obtainèd from I\-lurtgage Insurancè premiuJlls). As a result of ùlese agreements, Lender, any purchaser of tbe Note, anodlèr insurer, any rejJ surer, any oÙler emiry, or any affiliate of any of tile fureguing, JIlay reCèj I'e (dirèuly or iudirecrly) amuulllS thar derive from (or lllight be characterized as) a ponion of Bonu\\'èr's paymellts for Mortgage Insurance, in exchange for sharing or modifying tile mongage insurer's risk, or reducing losses_ ]f such agree1lJeIll provides Ùlar all at1iliare of Lender takès a share of the insurer's risk Î1¡ exchangè fur a share of dle premiums paid to tile insurer, ùle arrangement is often lermed "captive reinsuranCè." Furùler: (a) An)' such agreements will not affect the amounts that Borrower has agreed to pay for _Mortgage Insurance, or an)' other terms of the Loan. Such agreements will not increase the amoullt Borrower will owe for l'Iortgage Insurance, and they will not elltit1e Borrower to any refund. C -6(WY) 100051 ® Page a of 15 ,;7: V H InltL:,ls· :. /.: ~____' Form 3051 1/01 (. ,-c. r. r' ~ '-"'.. ('" j'ufU;) (b) Any such agreements will not affect the rights BOITo\\'er has - if any - with respeLl to the Mortgage Insurance under the Homeowners Protection Act of 1998 or allY other la\\'. These rights may include the right to receive certain disclosures, to request aud outain cancellation of' the J\lortgage Insurance, to have the Mortgage Insurance terminated automatically, aud/or to recei ve a refund of any Mortgage Insurance premiums that Ilere unearned at the time of such call1:ellatioll or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All tvtiscelbn¡;ous Proceeds are l¡er¡;by assigned lù and shall be paid to Lender. If the Property is damaged, such'lVfiscellan¡;ous Proceeds shall be applied to r¡;storatiun or repair of the Property, if the restoration or repair is ecollunúcally feasible and Lender's security is not lessened. During such repair and reswration period, Lender shall have ùle right to hold sucll tvliscellaneous PJOceeds until Lender has had an opponUIúty ru inspect such Propeny to ensure Ùlt w(Jlk has b¡;en cOlllpklc:d ru Lender's satisfaction, provided that such inspection shall be undenaken promptly. Lender may pay for Ùlt repairs and reswration in a single disburStlllem or in a series of progress paymtnts as ùle work is completed. Unless an agreelllr:llI is made Ül writing or Applicable Law requires imerest to be paid un such Miscellaneous Proceeds, Lender shall not be required to pay Borruwer any imerest or earnings OJ} such Miscellaneous Proceeds. If ùle restoratioJl or repair is not econonúcally feasible or Lender's security would be lessened, ùle Miscellaueous Proceeds shall be applied to tlle sums secured by tlÜs Security InstrUl11elll, wheÙler or not tIltn due, with ùle excess, if any, paid to Burrower. Such tvliscellaneous Prucetds shaH be applied in tIle order provided for in Section 2. 111 the evelll of a lOta] taking, destruction, or loss in value of Ùle Propeny, ùle tv!iscellaneous Proceeds shall be applied to the SUIllS secured by this Security Instrumem, whtùler or not then due, wit ¡ the excess, if any, paid to Borro wer. In tIle evem of a parûal taking, destruction, or loss in value of the Property in wl1ich ùle fair market value of ùle Property inunediately before Ùlt partial taking, dtstruction, or loss in valut is equal to or greateI than the amount of tile sums secured by tl1Ís Security Instrumem immediately befure ùle partiaJ taking, destruction, or loss in value, unless Borrower and Lender O[herwise agree in writing, tIle sums secured by tI1Ís Security Instrument shall be reduc¡;d by the amoum of ùle 1Vliscelhmeous Pwcceds multiplied by the following ti"action: (a) tile total all10um uf tIle sums secured illllnedjalely before ùle partial taking, destruction, or loss in valut divided by (b) tIle: fair market value of ùle Property imJllc:diately before ùle partiaJ taking, destruction, or loss in value. Any balance shall be paid to Borrower. In ùle evem of a partial taking, destruction, or loss in value: of tIle Property in which the fair market valne of tIle Propeny immediately before Ùle panial taking, destruction, or luss in value is less tllan tile amoum of ùle SUIns secured immediately before ùle partial taking, destruction, or luss in value, Ulùess Borrower and Lender oÙlerwise agree in writing, tIle Miscellaneous Proceeds shall be applied [(J Ùlt sums secured by ùús Security Instrument wheùler or not Ùle: sums are ùlen dut. If tIle Propeny is abandoned by Borrower, or if, after notice by Lemkr to Borrower that ùle Opposing Pany (as detined in tIle next semeJlce) oUas lO make all allard to seale a claim J(Jr dauLlges, Borrower fails to respond to Lender wiù1Ín 30 days after ùle date ùle Jlotice is given, Lwder is auùlOrized to collect and apply ùle Ivliscellaneous Pruceeds e:ither to restoration or repair of the Property or [(J tlle sums secured by this Security Instruurent, whetller or not ùlen due. "Opposiug Pany" means tlIe tl1ird pany that owes Borrower tvliscdlaneous Proceeds or tlle pany against whum Borrower has a right of auiuJl in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, wl1etller civil ur crirninal, is begun t!rat, in Lender's judgment, could result in forfeiture of tlle Pruperty or utller material impairment of Lender's i11ltrest ill ùle Property or rights under tIlis Security lrbtrUJllem. Burrower can cure such a defaul t aud, if acceleration has occurred, reinstate as pwvided in Section 19, by causing the action or pruceediug [(J bt dismissed WiÙI a ruling Ùlal, ill Lenda's judgmem, precludes forfeiture of tIle Property or oÙier material impairmem of Lender's imerest in tIle Property or rights unda ùlÎs Se:curity InstrumtnL The proceeds of any award or claim for damages ùlat are attributable to the: impairment of Lender's illterest in Ùle Pwperty are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds tIlat are not applied to restoration or repair of tire Property shall be applied in tIle order provided for in Section 2. C-6(WY) 100051 @ ] ,nials .' , t ~1 ; "J . Page 9 of 1 5 Form 3051 1 /01 ~-' . l-~ r, . ,,) \.) ..."'" ,-', ¡ oj 12. Bon'ower Not Released; Foruearance By Lender Not a \Vaiver. Extc:mion of die time for paymènt or modificatioll of amonization of dIe sums securèd by dlÎs Sècurity Instrumellt grallled by Leuder to Borrowèr or any SUCCèSSor in JnterèSt of Borrower shall not operate to release the liabi1ity of Borrower or any Successors in JmèreSt of Borrower. Lellder shall nut bè required to CUllllnenCè proceèdiugs against any SUCCèssor in Imerest of Borrower or to refuse (0 èxtèlld time for paymènt or odlerwise modify amonization of dIe sums secured by dlÎs Security Instnullent by reason of any demand made by ùle original Borrower or any SUCCèSSorS in Illlerest of Borrowèr. AllY forbearance by Lènder in exercising allY right or remedy including, wiù10ut limitation, Lèuda's aCCèptanCè of payments frum ù1ird prrsolls, emities or SUccèssors illllllèfèSt of Borrower or in amOUlllS kss than ùte alllOUIll ùlen dUè, sÜallnot bè a waiver of or preclude: ùle exercise of any riglrt or remedy. 13. Joint and Several Liability; Co-signers; SuccessOl's and Assigns Bound. Borrower Covell;UltS and a!!fees that Borrower's obligatiuns and liability shall be: joiu[ and se:\'c:ral. However, auy Borrower who co-signs ùlÎs Security lnstrumèllt but dots not èXècutè ÙJè Note (a "co-signa"): (a) is co-sig¡ùng this Security Instrumem only to mortgage:, grant and convey Ùlè co-signa's imeresl in dIe Property under ùle tèrms of ù1is Security Instrument; (b) is nOl pèrsonally obligated to pay Ùle SUIUS secured by this Security lnslrumem; and (c) agree:s ùlat Lende:r and any oùler Borrower can agre:e to eXlend, modify, tÜrbear or make any accolllIllodations wilh re:gard to ùle terms of ù1Ìs Se:curity hl';truJneJll or Ùlè NOle Will!Uut Ùlè co-siguer's conSèUL Subje:ct to ùle provisions of Sèction 18, any SUCCèSSor in Imeœst of Borrower who assumèS Borrower's obligations undèr ùlÎs SèCurity IllStrumeut in writing, and is approved by Lc:uder, shall obtain all of Borrower's ri1!hts and bènèfits uudèr ùÜs S.:curitv Instrum.:m. Bonowèr shall 1lot bè rc:le:ased Ü-om Borrower's obligati(~ns and liability unda ù1Ïs Sècurity -lnStrulllèJlt unkss Lèuda agr':ès to such rèkase in writing. Thè CO\'ènants and agreèlll.:nts of ùlis Sècurity Instrumèllt sl1all bind (excc:pt JS provickd in Se:ction 20) aud benetÏt ùle succc:ssors aud assigns of Le1lder. 14. Loan Charges. Lendc:r may charge Borrowèf tÚs tÜr se:rvicc:s pnfonn.:d iu cOIlJJèuilJn wiùI Borrowèf's ddault, for Ùlè purposè of protècting Lenda's iutèfe:st in dle Propen.y aud rights under ùlis Se:curity Instrument, includi1lg, but not limitèd to, atWI1lèYs' tÚs, prope:rly inspection and I'alualiou tÚs. In regard to any oùler tees, the: abse:nce of exprèss autllOrity in this Sècurity Inslnlmell[ [(J cl1arge a specitic tÚ to Bouowèr shall not be cOnStfUèd as a prohibitilJll 011 dIe cÜarging of such kè. LelldèI may nUl cl1arge: tÚs ÙJat arè expre:ssly prohibitèd by ùÜs Security InStrulllèllt or by Applicabk La w. If ùle Loau is subjèct to a law which sets maximulllloau chargc:s, and that law is tinally imerprele:d so Ùlat Ùlè iuterèst or oùler loan charge:s colkctèd or to bè collecte:d in connection wiù} th.: Loan excèe:d the pernÜttèd limits, ùlen: (a) any such loan charge shall be reducc:d by ùle amoum ne:cessary [(J rcdlH:e ¡] è cl1arge to ùle pèImittèd limit; a1le! (b) any sums aJready colkcte:d Ü-om BO!Towe:r which e:xcèèded permilled limits will be: rdullde:d to Borrow.:r. Lèndc:r may cllOos,: to make: ùÜs rdund by reduci1lg ùle princJpal oWèd undn Ùlè Notè or by making a dire:ct paymelll to Borrower. If a refund re:ducrs principal, tIle rèduction will be trc:ated as a partial prc:paymèlll widloUt any pfèpayment charge: (whèther or IlOt a pœpayme:nt chargè is providèd for under ùle NO!è). Borrower's accc:ptance of any such rdund made by direct payment to Borrower will COJL';titut.: a waive:r of JUY right of action Borrower might have: arising out of such overchargè. 15. Notices. All notices givèn by B01Towe:r or Lènda in COlUle:uion with this Se:curity Jnstrume:Jl( must bè in writing. Any IlOticc: to Bonowa in COlli1ectiou WiÙl dÜs Se:curity InslrulllèJlt sl¡¡¡j] be clee:med [() have beèu given to Bonowèr wuen mailed by tÏrsl class maiJ or when actually delivered LU Borrower's notice addœss if sent by oùle:r means. Notice: to anyone: Borruwèf shall cunstitute IllJtice [(J all Borrowers unless Applicabk Law expressly require:s OÙlèfWisè. The notice address slla]] bè Ùl': Propèny Addre:ss unless Borrowèf has designated a substitute notice addrèSS by noticc: to Lendèr. Borrower shall proll1ptJy notify LèndèI of Borrower's changè of addrèss. jf Lender spècitiès a proc.:dure: for reponing BOJTOWèf'S change of addœss, ùlèn BOJTowèf shall only repon a change: of addre:ss ùlrough ¡]w[ speciJied procedure. Therè may be only one de:signated notice: address under ùÜs Se:curity Instrument at anyone lime. Any notice to Lc:ndèf shall bè givèn by delivaing it or by mailing it by tÏrst class mail to Lender's address stated hèIèin unless Lend.:!' has dèsignatèd ano[h.:r addre:ss by noricc: to BO!Tower. Any jJotice in cOlUlèction wiù} ùÜs Sècurity Instrume:jJt shall not be dèemèd to have: beell gi I'ell to Lender umil aClUa]]y receive:d by Lèuder. if any notiCè required by ùlÎs Security Jnstrumelll is also rèquired unda Applicable: Law, Ùle: Applicable Law rèquireme:llt will satisfy Ùle: corresponding rèquiremem uuda ùlÎs Sècurity Instrument . ~_ -6(WY) 100051 ""*"® ...f i In¡t¡¡:;Js .",., rti Pagt:l0cf15 Form 3051 1/01 r' ¡-... r", ! ' , ~ '.~ "'~ . ".~' ~ . ..L 16. Governing Lawj Severahilil)'j Rules of Construclion. This Security Instrument shall be governed by federal jaw and ùle jaw of Ùle jurisdicrion in which Ùle: Prope:ny is ]ucatc:d. AlJ riglns and obJigations contained in ùÜs Se:curiry ]mtrume:m arc: subject to any re:quire:lllèlHs and ]imirations of AppJicable Law. Applicable Law might expJicitJy or implicit]y alJow ÙJe: panies to agree by comract ur it might be: sikm, but such siJence shall not be construe:d as a prohibirion agailL~t agre:e:mem by COJl[raCL- In Ùle event that any provision or clause of Ùlis Se:curity Instrument or the: Note: conflicts wiùI Applicable Law, such cout1ict shall not atfe:ct OÙler provisions of ùlÍs Security Instrument or Ùle: Note which can be: given etfe:ct wiùJout Ùle cont1icting provision. As used in ùIÍs Security Imtrumem: (a) words of die m.ascu]iue gende:r shall llle;m and include corresponding ne:uter words or words of Ùle feminÍile: gendc:r; (b) wurds in the singular skJll mean and include: Ùle plural and vice versa; and (c) ùle word "may" gives sole discre:tion witlJOut any ubligatiuJJ to take any action. ]7. Borrower's Copy. Borrower shall be: give:n one: copy of tlle: Note and of ùJis Security Instrullle:nt. 18. Transfer of the Properly or a Beneficial Interest in BOITower. As use:d in this Se:ction ]8, "Interest in ùle Property" means any legal or be:ndicial interest in the: Property, including, but Hot limite:d to, tllOse beneficial interests transtáred in a bond for deed, contract for dee:d, installment sales COl1lract or escrow agreement, dIe intent of which is tlle transfc:r of title by Borrowc:r at a future: date to a purlhase:r. If a]] or any pan of Ùle Propeny or allY lmere:s[ in d¡e Propeny is sold or transferred (ur if BOlTowe:r is not a natural person and a beueficial interest in Borrower is sold or transtáred) widlOut Lende:r's prior written consent, Lender lnay require immediate payment in full of all sums secure:d by tlÜs Se:curity Instrume:nt. However, this option shall not be: e:xc:rcised by Lender if such exercise is pruhibite:d by Applicable Law. If Under exercises ùlÍs option, Lender shall give Borrower notice of acceleration. The: nutice shall provide a period of not less ùlan 30 days from ÙJe date d¡e 110tiœ is gi ven ill accordanœ with Se:uiol1 15 widlin which Borrower must pay all sums secure:d by d1Ìs Security Instrument. If Burrower fails to pay ùlese sums prior to tile expiration of this period, Lender may invuke any reme:dies peruJÍlled by ¡JJis Security Instrument witllOut furÙler notice or de:l141nd on Borrowe:r. 19. Borrower's RighI 10 Reinstate After Acceleration. If Borrowc:r mee[s ce:nai ] conditiom;, Borrower shall have Ùle right to have enforcement of tl1Ís SecurÍly Instrumelll discontinued at any time prior to dIe earliest of: (a) íïve days bc:fore: sale of ¡Jle Prope:rty pursuant to any puwer of sale contained in tllÍs Security Instrume:nt; (b) such odJer period as Applicable Law might specify for lhe ¡c:rmiJ4J[iun of Borrower's right to reinstate; or (c) e:ntry of a jUdgllle:llt enforcing tllÍs Security Instrument. Those conditions are Ùlat BOlTowe:r: (a) pays Lender all sums which Ùle:ll would be due under dIÍs Se:curity InstrUluent and ùle Note as if no accderation had occurred; (b) cures any default of any other covenants or agreemellts; (c) pays all expenses incurred in enforcing ¡l1is Security InstfUme:l1t, including, but not limited LO, reasonable allome:ys' fe:es, property inspection and valuation tees, and OÙIc:r iec:s incurred for die purpose of prote:cting Lender's interest in Ùle Property and rights under this Security Instrument; and (d) takes such action as Lendc:r lllay reasonably require to assure Ùlat Lender's intère:st in the Propeny and rights unde:r Ùlis Security ]nstrumem, and Borrower's obligation to pay dIe sums secured by tllÍs Security Instrument, shall continue unchanged. Lendc:r may require that Borrower pay such reinsta[emem sums and e:xpenses in one or more of Ùle following fOflm, as sdected by Lender: (a) cash; (b) money urder; (c) ceniiied check, bank check, treasure:r's check or caslJier's check, provide:d any such check is drawn upon an institution whose deposits are insured by a fede:ral agency, instrumentality ur entity; or (d) Electl(mic Funds Transfer. Upon reinstatement by Borrower, this Security InstrulUellt and obligations secured l1ereby shall re:llJ.ain fully dJective as if no acceleration had occurred. Howevc:r, tlris right 10 reinstate shall not apply in Ùle case of acceleration under Section] 8. 20. Sale of Note; Change of Loan Servicerj Notice of Grievance. The: Note or a partial imerest in tlle Note (togeÙler witll tllÍs Security Instrument) can be sold one or more: times witlJOut prior llotiœ [0 Borrower. A sale might result in a change in tbe entity (known as Ùle "Loan Servicer") ¡hat collects Periodic Paymems due: under dIe Note and dlis Security Instrument and performs otl¡er mOrtgage: Joan servicing ob]igations under dIe Note:, this Security Instrument, and Applicable Law. The:re also might be one or more changes of tlle Loan ServiCèr unrdate:d !O a sale: of die Note. If Ùlere is a clJange of lhe Loan Service 1', Borrower will be given written notice of the change which will state dIe: nallle and addre:ss uf ùle new Loan ServiceI', dIe address to which paymellts should be made and auy Olher infuTluation RESP A Q ,6(WY) 100051 ® Pi:ige 11 of 15 Initl<3ls rJ(- y' \--\ Form 3051 1/01 /.... r· . t'.; .-'~ . :.j ~..: !, . ~ requires in t.:Ol1uection WiÙI a notice of transfer of savicing. if ùle Note is sold and thereafter the Loau is saviced by a Loan Servica oùler than the purchaser of die Note, dIe lllongage loan sèfvicing obligaLions to Borrower will remain with the Loan Servicer or be transferred to a successur Loan Savicer and are lIOt assumed by the Note purchaser unless oÙlerwise provided by the Note purchaser. Neidler Borrower nor Lender may COn1lllence, join, or be joined (0 any judicia] actjon (as either an individual litigant or the member of a class) that arises from dIe oùler pany's actions pursuam to this Security Instrument or dlat alleges dlat dIe odler party has breached any provision of, ur allY duty owed by reasolJ of, dÜs Security lustrumelll, umil such Burrower or Lender has notiíÏed dIe odler party (wid¡ such notice given in compliance widl dIe requirements of Section 15) of sucl1 alleged breach aud affurded tJle OÙlèr party hereto a reasonable period after the giving of such notice to take cOlTeClive actiou. If Applicable Law provides a time period wlÜch must elapse before cenain action can be taken, tllat time period will be deemed to be reasonable for purposes of this paragraph. The notice of accelc:ratjon and oppurtmúty to cure given to Borrower pursuam to Section 22 and ùle nutice uf acceleratioJl given [() Borrower pursuam to Section 18 shall be deemed to satisfy tIle uotice and opportunity LU take corrective actioJl provisious of this Section 20. 11. Hazardous Substances. As used in tJ1Ís Section 2J: (a) "Hazardous Substances" are tIlOse substances defined as toxic or hazardous substances, pollut.allls, or wastes by EuvÎronmemal Law and dIe following sUhStanCès: gasoline, kerosene, oùler t1amuwble or [Oxic petroleum produCls, !Oxic pesticides and herbicides, volatile solvems, Jlwerials colllaÍlúng asbestos or formaldehyde, and radioactive nwterials; (b) "Environmental Law" means federal laws and laws of ùle jurisdiction where' ùle Propeny is lucated ùlm relate to healtll, safety or environmental protection; (c) "EnvÎronmemal Cleanup" iucludes any respo Ilse action, remedial action, or removal action, as defined ill Environlllemal Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or pern1Ít the presence, use, disposal, storage, or release of any Hazardous Substance's, or tlrreaten to release any Hazardous Substances, on or in ùle Propeny. BUHO\\ l·r shall not do, nor aUow anyoue else to do, anythillg a1lecting ùle Property (a) Ùlat is in viulation of any Envirunmental Law, (b) wlÜc]¡ creates an EnvÎrolllllental Condition, or (c) which, due to tIle presence, use, or release of a . Hazardous Substance, creates a condition that adl'ersel) affects tile value of dle Property. TIlt preceding two sentences shall not apply to tlle presence, use, ur storage on tlle Prupeny of small quantities of Hazardous Substances tllat are generalJy recoglúzed to be appropriate to normal residemial liSe'S and to nwimenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, dellwlld, lawsuit or other action by any guvenuneuta] or regulatory agency or private pany involvillg ùle Property aud any Hazardous Substallce or Environmelllal Law of which Burrower has actual knowledge, (b) any Environmental Condition, including but lIot limited to, any spilling, leaking, discharge, release or tJn-eatuf release of any Hazardous Substance, and (c) any condition caused by tIle presence, use or release of a Hazardous Substance which adl'c:rsely affc:cts tlle value of tIle Propeny. If Borrower leams, or is lIotitied by any govennnemal or regulatory autllOr.ity, or any private party, wat any removal ur otller remediation of any Hazardous Substance affecting ùle Property is necessary, Burrower shall promptly take all necessary remedial actiuns in accordance with Environmemal Law. NotJ¡jng herein shall create any obligatiun on Lender for an Environmental Cleanup. C ·6(WY) lú0051 ® ..// j'..HI- 1""".Is- ':-1 1- Page12of15 Form 3051 '1/0'\ ic - . '-, C f,' 7 3 NON-UNIFORlvl COVENANTS. Borrower and Lenda furùler Co\'ellalll amI agree as fullows: 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 lIot prior [() acceleration under Section 18 unless Applicable Law provides otherwise). The lIotice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days fmm the date the notice is given 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 Hotice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borro\\er of the right to reinstate after acceleration and the right to bring a court action [() assert the nOll-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 full of all sums secured by this Security Instrument without further demand and may in rake tile pOller of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies pmvided 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 intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance wiih A pplicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section] 5. Lender shall publish the notice of sale, and the Property shall be sold in the manner pn,scribed lJy Applicable Law. Lender or its designee may purchase the Property at any sale. The pl"Uceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, uut not limited to, reasonable attorueys' fees; (u) to all SUIUS secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. UPOIl payment of all sums secured by ùlÍs Security lustrlJIlIent, Lender shall release thjs Security Instrument. Borrower shall pay any recordatjon costs. Lender may charge Borrower a fee 1lJj" releasing this Security Iustrument, but only if the fee is paid to a ùlÍrd pany fur services reudered and ùle charging of ùle ke is permitted under Applicable Law. 24. -Waivers. Borrower releases and waives all rights under and by vmue of ù¡e hOlllestead exemptiolllaws of Wyom:ing, ,~-7'; ,J.." r \ \ I-·n """'" -6(WY) (00051 ~® 1Illtlals P "ge 1 3 of 1 5 Form 3051 1/01 , . ¡-'," r.: ,. Þ''','' ~ , ; '.> ¿ é '1 BY SIGNIN G BELOW, Borrower accepts and agrees to the tenus and covenants cOlllaiJlèd 111 this Security Instrument and in any Rider èxecuted by Borrowtr and recordèd with il. Witlltsses: " /;1 i / ~ i ~. l"/" t:.\ ,J 'i/.' / ~"""'/,I /: t, G ..---:.. -..:,',J TRAVIS E HUCKABY " (Seal) -Burrower 11 'jJ , ¡j' y--(} ,.I (I b( ,LL 71 v(/(i_¡( ¿;:c.irLj' .(Seal) KELLIANNE HUCKABY ¡/jBolTowcr l/ (Sèal) __ (Sea]) -Borrower -Borrower (Seal) (Sea]) -BUJTtJwer -l-hIJTUWer (Seal) ---_ (Seal) - Borrower .] ¡"rrown C-6(WY) 100051 ® Page 14 of 15 Form 3051 1/01 _.~ -,. - 1-'. r-. r . 1 ~,,~ ~..... . '..' , I oJ STATE OFWYOl\HNG, Lincoln County ss; The foregoing instrument was acknowledged before me this 2nd day of December, 2005 by TRAVIS E HUCKABY AND KELLIANNE HUCKABY My Conm1Ìssion Expires: 9-15-07 /&~-:CA.-¿J~CYv) /¡j, /(]CLt. / NOla!')' Public I '.(:,..~..,- ~-.....~~ GLORIA K. BIERS· N01ARY PUBLIC f COUnty of:'~1:;' State ot ~.. """¡;~ { Lincoln 'iià,"1 Wyoming < My Commission Expires S¡;;Pt~ <D -6G(WY) (00051 ® Pagt':15 of 15 ..; \/1 i_ Initl...ls:"·,~ / ":~(i ,-----~ Form 3051 1/01 - ,-, Ci C :~'? G FIXED/ADJUSTABLE RATE RIDER (One- Year Treasury Index - Rate Ca ps) THIS FIXED/ADJUSTABLE RA TE RlDER is made tliis 2ND day of DECEMBER, 2005 and is incorporated into and shall be deemed to amend and suppleml:Jl( the :tvlortgage, Deed of Trust, or Security Deed (lie "Security Instrument") of the same date given by ùle und¡;fsiglled ("ßorrower") to secure Borrower's Fixed/Adjustable Rate Note (Ùle "Note") to WELLS FARGO BANK, N.A. ("Lender") of ùle SalUe date aud covering the propeny described in ùle Security IIlStrullle1Jt and localed at: 101 WAGON RUT LANE, AUBURN, WY 83111 IPrüptrl) AddrtssJ THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LlIVIITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to ùle ¡;ovenants and agreements made in the Sewri¡y InstrulUent, Burrower and Lender furùle:T covenant and agree as follows: A. ADJUST ABLE RA TE AND l\10NTHL Y PA YMENT CHANGES The: Note: provides for au initial fixed inte:rest rate of 5.000 'X. TIle: Note also provide:s [or a change: in the: initial íixe:d rare to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RA TE AND 1\10NTHL Y PA Y1\lENT CHANGES (A) Change Dates The: initial fixe:d interest rate I will pay will change to an adjustable imerest rate Ull the first day of DECEMBER, 2012 , and ùle adjustable interest rate 1 will pay Illay change on that day every 12th monùl ùlereafter. The dale on which my inirial fixed imerc:st rate changes to all adjustable imerest rate, and each date on which my adjustable interest rate could change, is called a "Change Date." 0048922959 IVIULTISTATE FIXED/ADJUSTABLE RATE RIDER - ONE-YEAR TREASURY INDEX- Single Family- Fannie Mae Uniform Instrument cDi843R (0006) Form 31 ª2 1/ÇJ} Page 1 of 4 Initials: ---: .,:1--. \("tt VIvIP MORTGAGE FORMS -(800i521·7291 I I I -. t';· (~ [:. ¡.,'~. ~.¡'.1 'J '..' , ê . (B) The Index Beginning widl d1e ílrsr Change Date, my adjustable interesl rate wiJl be based on an Index. The "Index" is dIe weekly average yield on United Stares Treasury securities ad jus led to a cons tam m;.iCurity of one year, as made available by dIe Federal Reserve Board. Tile most recellt Index ílgure available: as of the date 45 days before each Change Date is called dIe "Cuue11l Jndex." ]f dIe Index is no longer available, dIe Note Holder wi]1 cl100se a new index that is based upon comparable information. The Note Holder wiJl give me notice: of dÙs ¡;]JUice. (C) Calculation of Changes Before each Change Dare, d1e Note Holder will ¡;alc:ulare my new imeresr ratt by adding TWO AND THREE - QUARTERS percemage poims ( 2.750 %) to dIe CUITellt Index. Tile Note Holder wiJl then round dJe rtsult of this addition to dIe nearest one-eightl1 of oue perce:lltage poim (0.1250/,,). Subje¡;¡ to dIe limits stated in Section 4(D) below, tl1Îs rounded amount wiJl be my new interest rate umil d1e next Change Dare. The Note Holder wiJl tllen determine the alJ10WH of dIe montllly paymem dlat would be suftj¡;iem to repay the unpaid principal that I am expectèd to owe at dIe Change Datt in full on dJt Maturity Date at my new interest rate in substantially equal payments. Tht result of this calculation will be dIt lltW amount of my monthly payment. (D) Limits on Interest Rate Changes The imerest rate 1 am required to pay at dIe íÏrst Change Date wiJl not bt greater dlan 10 . 000 e7c, or less Ulan 2 . 750 (I', . Thereafttr, my adj us table Ílueresl rate wiJl never be increased or decreased on any single Change Date by more dlan lWO percemage poims ÍÌ"om dJe rate of interest 1 have been paying for the prece:ding 12 I1lomhs. !vly interest ratt wiJl never bt greater tlIanl 0 . 000 % . (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I wiJl pay tlle amoum of my new mondI]Y paymtnt beginning on the first lllondtly paymem dare after the Change Date umil dIe anlOUIll of my lllondlly paYllltnt changes again. (F) Notice of Changes Tht Note Holder wiJl deliver or l1laillO me a notice of any changes in my initial Ii xed imerest rate to an adjustable imerest rate and of any changes in my adjustable: imerest rale btfure [he et1'tctive date of allY change. The Dotice will include tlle amoum of my ll1o11dlly payment, any informatio ] required by Jaw to be given to me and also d1e title and telephone numbc:r of a person whu will ans\\'tr any question j may Itave regarding tbe notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BOHJ{OWER ]. Until Borrower's initial íixed interest rale changes to an adjustablt imtrest rate under dlt ltrlllS stated ill Section A above, Uniform Covenant 18 of !lIe Se¡;uriry 1l1Stlllmellt shaH read as follows: «D-B43R (0006) @ ., ;/ \ \ Initials:<-,; -r'., ,1 Page 2 of 4 Form 31821/01 \:~ ('C;Cr~'r/3 Transfer of the Property or a Benetïcial Interest in Borrower. As used in this SectioJl 18, "lmerest in the Property" means any kgal or benelicial imerest in the Pwpeny, induding, but not limited [0, those beneficial interests transferred in a bond fur deed, comract fur deed, installmem saks contract or escrow a!.!reemem, the imem of whiclJ is we transfer of title by Borrower at a future date to a purchase:r. - If alJ or any pan of the Prope:ny or any lmerest in the Prupe:ny is sold ur transfe:ne:d (or if Borrower is not a narural person and a beneficial imerest in BOlTowc:r is sold or trallsferre:d) widlOut Lendc:r's prior writte:Jl conse:m, Le:nde:r may re:quin:: immediate paymem in fulJ of all sums secure:d by dlÎs Security Instrument. Howe:ve:r, d1Ís option shall not be: e:x.t:rciseu by Lender if such ex.ercise is prohibited by Applicable Law. If Lender exercises dlÏs option, Lender shall give Borrower notice of acceleratjun. The notice shalJ provide a period of nut kss dlan 30 days ÍÌ"orn ùIe date the nutice is given in accurdance with Section 15 withiu which Borrower must pay all sums secured by ùlÍs Security Instrument. If Borrower fails to pay dlese SUillS prior to the expiration of wis period, Lender may invoke any remedies permitted by wis Security Instrument without furùler notice or deluaud on Borrower. 2. When Borrower's initial fixed interest rate changes to an adjustable imerest rale ullder ùle lerms stated in Section A above, Uniform Covenant 18 of dle Security InStrumellt described in Section BJ above shall ùlen cease to be in effect, and ùle provisions of Uniform Covenam 18 of ùle Security Instrumem shalJ be amended to read as follows: Transfer of the Property or a Benetïcial Interest in Borrower. As used in this Section ] 8, "lmerest in we Propèrty" means any legal or be:ndicial iutc:rest in ùle Propeny, including, but not ]inlÎted [0, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreemem, ùle intem of which is the traJlSfer of title by Borrower at a future date to a purchaser. If all or any part of we Property or any Imerest in the Propeny is sold or transfLTred (or if Borrower is not a natural person and a bendicial imerest in Borrower is sold ur ( ansfened) williom Lender's prior writl': ] cunsent, Lellder may req uire inlillediate paYlllelll ill Jull oj all sums secure:d by dlÌs Security Instrument. However, ¡his option slJall not be exercised by Lellder if such exercise is prohibited by Applicable Law. Leuder also shall not exercise ù¡is option jf: (a) Borrower causes to be subnlÏtled LO Lender informatiou required by Lender tu evaluate ùle imended transferee as if a new ]oan were being made to die trausfere:e; and (b) Lende:r reasonably determines dlat Lender's security will not be impaired by ùle luau assumption and ùlat ùle risk of a breach of any covenam or agreement in ùlÍs Security Inslrumeut is acceptable: to Lender . To ùle extent permitted by Applicable Law, Lender lllay charge a reasonable Jee as a condition to Lender's COJlSem to ùle loan assumption. Lender also may require ùle transferee [( sign an assumption agreement ùlat is acceptable LU Lender and ùIat obligates ùle transferee to keep all dIe promises and agreements made in dIe Note and in ù¡is SecurilY Inslrument. Borrower will continue to be obligated mmer ¡he Note and this Security iustrument unless LeImer releases Borrower in wrÍLin!.!. If Lenda exercises we OptiÒÍl to require inunediate payment in ful], Lender sha1J give Borrower notice of acceleration. The notice shalJ provide a period of not less ùlall 30 days froj]j ùle date dle notice is given in accordance with Section ]5 widlin whicIl Borrower must pay all O'S43R (0006) <!) Initials:--::-// y,~- Page 3 of 4 Form 31821/01 ,- -. - ,--.:;,I.~ (, I~··~ Î',r'·~·,¡ r" . ';;. , i J ' '.,' .~. Ii sums secured by ùlÍs Security Instrument. ]f Borrowèr fails to pay ùlese sums prior to tile expiration of this period, Lender may invoke any remedies permitted by ùlÍs Security ]nsrwmelH WiÙlOut further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees to the rerms and covenaIlts contained in [his Fixed/Adjustable I~te Rider. //" '/ í,:1 :,"-,<f, {I /../ L VI<L \J ,. /~f;ll'l rG,<.J:~J/ TRAVIS É HUCKAay (Seal) / I r\J) L( ) ()----'" l' K. t-r-\C; ¡<"iJ_\-1. (Seal) KELLIANNE HUCKAay (}JulTuwcr - BdITü\\'t:1' ( Sea]) (Seal) -Borrowt:r ,Borrow"r (Seal) (Seal) - Borrower - Burruwer (Seal) (SeaJ) - Burrower -Borrower C,843R (0006) ® P"ge 4 of 4 Form 31821/01