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Home My WebLink About914238 /'>.':-;';',',< 11, 51307 Return To: THE JACKSON STATE BANK & TRUST 112 CENTER ST.. POBOX 1788, JACKSON. WY 83001 T·· - ,... ('" "J . ! \ ( , !;. . .... ..j d V _I .J. Prepared By: Jessica Banbury RECEIVED 12/7/2005 at 10:22 AM RECEIVING # 914238 BOOK: 607 PAGE: 1 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY MIN: 100015700061448474 (Spaœ Above This Line Fur Recording Data] ._----~ MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, II, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. u (A) "Security Instrument" means this document, which is dated November 28. 2005 together with all Riders to this document. (B) "Borrower" is Sri an J. Hunter and Me 1 i ssa M. Hunter. Husband and wi fe. as tenants by the entireties '1 (, \ ~ (, Borrower is the mortgagor under this Security Instrument. (C) "Lender" is THE JACKSON STATE BANK & TRUST Lender is a State Bank organized and existing under the laws of THE STATE OF WYOM I NG HUNTER.B&M TERM 115733362 WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 Q -6{WY) (00051 ® Page 1 of 15 MW 05/0001 Initials: -- 11111111111111111111111111111111111 VMP MORTGAGE FORMS· (800)521-7291 ... r· f...... (\ ¡"', r) J) \...- 'oj \.) G' ~~' 4.-." ü .;(:J.~ {) .j (J¡ Lender's address is 112 CENTER ST.. POBOX 1788, JACKSON. \~y 83001 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated The Note states that Borrower owes Lender One Hu nd t'ed Forty no/lOO (U.S. $148.000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than December 1. 2035 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (F) "Loan" means the debt evidenced by the NLite, plus iuterest, any prepayment charges and late charges due under the Note, and all sums clue under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applieablej: November 28, 2005 Eight ThoLlsand and Dollars D Adjustable Rate Rider D Balloon Rider D VA Rider D Condominium Rider D Second Home Rider [X] Planned Unit Development Rider D 1-4 Family Rider D Biweekly Payment Rider D Olher(s) [specify] (Ii) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" means all clues, fees, assessments ~lI1d other charges that are imposed 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 origin~ltecl 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 authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sak transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, aml automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "lHiscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage lO, or destruction of, the Property; (ii) condemnation or other taking 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 Property. (IH) ,,~fortgage Insurance" means insurance 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 the Real Estate Settlement Procedures Act (12 USe. Section 2601 et seq.) ami its implementing regulation, Regulation X (24 e.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESP A" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. HUNTER.B&M TERM 115733362 Q. C -6{WY) (0005) ® Initials: Page 2 of 15 Form 3051 1/01 , , ;' ¡',',;. ~ - ';'.. -' - . ,,-!j~.'J~",',', - . (' (\ (\ .... f' f) :'.' \) \~} \)',) J ,;. tl,'ït.r:" ,1; t:l ,~ 4' (P) "Successor in Interest of Borrower" means any party that has taken title to the Pruperty, whether or not that party has assumed Borrower's obligations under the Note and/or this 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 modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this PUlvose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the County of L i nco 1 n [Type of Hecording Jurisdiction] (Name of Recording Jurisdiction] Lot 27 Trail Creek Subdivision. Lincoln County. Wyoming, according to that plat filed April 3, 2002 in the Office of the Lincoln County Clerk as Plat No. 196F. Parcel ID Number: 36191530040100 39 Meagan Road Alpine ("Property Address"): which currently has the address of [Stréetj [City] , Wyoming 83128 [Zip Cude] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacernents and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. TI·ns SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instfllment covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant 10 Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this HUNTER,B&M TERM 115733362 0 Q -6(WY) 10005) ® Initials: -- Page 3 of 1 5 Form 3051 1/01 : : ~; ~i; :~~~~i~fjii¡¡~·¡:! ..;!;.:-,';\' , ;1;,::<;';':-: r. -.. ., . IT, 1 ,. (, I, ' Î Ii! -..' '~_,.' \J '0 -_. Lí \i ;~~') :,< "1' t q .:... ·:¡!...~"4_--LCJ Security Inslrument is returned to Lender unpaid, Lender may require that any or :¡]! suhsequent payments due under the Note and this Security Instrument he made in oue or more of the following forms, as selected by Lender: (a) cash; (b) muney order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Paymel1£s are deemed received by Lendcr when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notiCè provisious in Section 15. Lender may return any payment or partial payment if (he payment or partial payments are jnsutTicient to bring the Loan current. Lender may accept auy payment or partial payment insufficient 10 bring the Loan current, without waiver of ,my rights hereunder or prejudice to its rights to r¡'fuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at tIle time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Leuder need not pay interest on uJlapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds wil] be applied to the outstanding principal balance under the NOle immediately prior to foreclo~ure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Burrower from making payments due under the Note and this Security Instrument or performing the covenants and agn:cmellls securc'd by this Security Instrument. 2. Application of Payments or Pro('('cc!s. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (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 <lmounts shall be applied first 10 late charges, second to any other amounts due under this Security Instrument, ami then to reduce the principal balance of the Note. If Lender receives a payment 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 ddinquent payment and the late charge. If more than 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 that. each paymeut ean be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Volunlary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender OIl the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amouuts due for: (a) taxes and assessments and other items which can atrain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rcnts on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lemler in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items al"L~ called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, aud such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notjces of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Hems unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts HUNTER,B&M TERM 115733362 o C-6(WY) 100051 ® Initials: ------ p¿j~e 4 of 15 Form 3051 1/01 ,-"" 1-:-)('''1 . [', r~,~ 'J \.i 'G' .~, .J '11 J.., '.i1k-l! " .Jj '-J, due ¡"or any Escrow 1tL'IllS for which payment of Funds has been waived by Lender :iIld, if Lemler requires, shall furnish to Lender receipts evidencing SLlch payment wÎlhin such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all pmposes be del:nlL'd to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant ancl agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount clue for an Escrow Item, Lender may exercise its rights 11l1dcr Section 9 and pay such amount and Borrowcr shall then be obligated under SL'ction 9 to repay to Lendn ~IIlY such amount. Lender may revoke the wai ver 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 jn such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lemler to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lemler can require under RESPA, Lender shall estimate the amonnt of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applil:lblc Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrtll11entality, 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 RESPA. Lender shall not charge Borrower for holding and applying [he Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest 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 (he Funds, Lt.:nder shall not be rL'\juired to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Burrower, without charge, an annual accounting or the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender sh;ll] account to Borrower for the excess funds in accordance with RESP A. If tht.:re is a shortage of Funds held in escrow. as defined under RESP A, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amollnt necessary to m~lke up the shortage in accordance with RESPA, but in no Illun: than ]2 monthly payments. If there is a deficiency or Funds held in eserow, as detÏned under RESPA, Lemler shall notify Borrower as required by RESPA, amI Borrower shall pay to LendL'r the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Communit)' Association Ducs, Fees, ~lI1d Assessments, if any. To the extent that these items art.: Eserow Items, Burwwer shall pay them in the m:l1lner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation st.:cured by ¡he lien in a manner aCL:eptable to Lender, but only so long as Borrower is performing snch agreement; (b) contests the lien in good failh by, or defends against enforcement of the lien in, legal procet:dings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until sllLh proceedings are com:J'Ided; or (c) secures from the holder of the lien an agreemcnt satisfactory to Lender subordinating the lien to this Security Instrument. I f Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice idcnlifying the HUNTER.8&M TERM 115733362 o C -6{WY) 10005) ® llìitiáls; ---.~-_._- Pë1ge 5 of 15 Form 3051 1/01 " . r-. (\ i'), ! ~ r. ,.' t) L' ..' () > . ,- f J~ \. .;- ~7: i~';! <.I_:;,-\._-1i lien. \Virhin 10 days uf the date on which that notice is ~i\'('n, Bt)TnWU shall s:ilisfy tltL' lic'n or t;ILL nne or mlJre of [he aetions St:L forth abo\'e in Ihis Sectiun 4. Lcnder may require Borrower 10 pay ;1 onl'-time charge for a real eslall' I;IX verilïl·¡ltiun ,Ind/or reporting service used by Lemkr in cunnection wilh this 1 ()¡m. 5, Propcrty Insllrance. ßurrower shall keep the impmvemL'IllS n()\\ exislillg or hcrl,:tI'll'r ert'creel on the Prl)perty insured against loss by fire, hazards inLluded ""i¡hin Ihe term "t'\tcJIllnl co\'eLlge," :Ind any other hazards including, but not limited It), c;lrthquakes alld t1uods, ftlr which Lemler requires ili',III:lllce. This insurance shall he maintained in Ihe ¡UntlllnlS (inclnding dedlluihle levels) and for the periuds Ihat Lender requires. What Lender requires pnrsuant ll) till: preceding sentences C:ln cll;lngL' dllring the Inrn of (he Loan. The insnrance carrier providing the insurance sh;dl be chosen by Burrower SUhjL-ct 10 Ll'nd¡'r's righl 10 disapprove Borrower's clwice, which right shall nul be exercised unre;lsonahly. L('I1del may require Borrower to pay, in connection with rhis LO;ln, I'i¡her: (a) a (1IIe-lime clt¡lrge for J100d zone ddermin;lti¡)n, certification and tracking services; or (h) ;1 ulk-timl' d"I:ìrge for J10ud 10 nt' deterl11inarinn ami certificaliun sérvices and subsequent charges e~¡ch ¡imL rt'l11appiugs nr sj¡nil~¡r chang,·, twcur which reasomtl)ly mighl affect sucIl detennillilioll or certitïL'aliun. Borrower shall ~dso Ill' rL·.';1t1I¡~ihll' flJI the payment of any fees imposed by thl· Federal Emergency J\-!:"Illagenknt "'\~ency ill l'{11111L'l'linn wilh ¡he review of allY (Iood zone determinalion 1"(·sldting frtlJ1] an ohjn'licHl by Burrower. If Borrower fails 10 maiutain any of lht, coveragL"S descrihed ~tlH)Ve, LendtT 111ay obt~lin insurance coverage, at Lendér's 'IPtiun ami BorrO\\'l'r'S expensL'. lendu is undcr no oblig,lliun to purc-h~he any particular lype or amount of coverage. Then:: i'urL" , such cUl'nage shall cuver Lender, hilI might Ilr might nol protl'ct Borrower, Borrowér's equity in ¡he Property, ur ¡he contents of (lit.: Pro!wr(y, :lg¡¡il1.,t any risk, hazard tH liability and might provide gre¿¡cr or ksser covcrage !l1~ln was prL'viously in effect. Btl!îuwer acknowledges liJ:11 the cosl of the insllrancé cuvnage so obu¡ined Illi~ht significantly C'X,'L'L'(j Ibe CUSI nf ilbllrance thar ßurrower could have obtained. Any :II11Ollnls disbursed by Lender under Ihis SL'l'tion 5 siJ,dl become additional deht of 13orrower sccured by Ihis S¡:ullilY !11SlrtllJ1t'nl. TllL'Sé ¿ll11ullnts sh:1l1 bL';11 interest at the NOll' rate from the date of disbursement and shall be paY~lhk, with SUcll illlelTst, llplill nnlice from Lemler to Borrower requesting paymént. All insurance policies requiréd by LemIL-r and rene\\'~¡S of sucb policic:s sh,ill beSlthjl'CI to I.t'I1tll~r'S right to disapprove such policies, shall inclllde a St¿IIHbld II1IJrlgage clause, ,Ind sh,dl n~llI1e Lender as morlgagee and/or as an additional loss payee. Lender shall 11,11'1:' thc righl lu hold the policies ;lIId rUlL'wal certificates, If Lender requires, BormwL'r ~,h¡dl Pllll11ptly gil'l:' to Lcndu all receipts of paid premitlms and renewal notices. If Borrower nbt;¡ins any form uf insurance uwenlgc, nnl nlherwise reqtlirnl by ] .cmler, for damage: to, or destruction of, ¡hc Prtlperly, such pnlicy shall include a stanl\¡¡rd morlg:lge clause and sh;illl1<ll11e Lender as mortgagee and/or ,IS an addilional loss payee. In Ille event of loss, Bm!t)Wér slLdl give prompt nlJtil'e to the insuLlI1ct.: Glrrier ami tC:lllkl. I.L'IHkr may make IHoof III' Inss if nllt madc: promptly by B"lItl\\L'I. UnlL~ss Lendl'r ,IIHI BOII\I\\-cI (¡(hcrwisl' ,Igree in writing, any insurance proceeds, whC:lllt:r nr not ¡he undL'llying iW,Ur;Hil'l' was re'Jllired l1y I.ender, ~1¡¡t!1 he applied to "t'sloraliun or repair of tIll' Property, if Ihe resturation "r repdir is eCIIIHllniL·¡t!ly fCdsihk and Lender's seclllilY is nOl lessened. During sllch repair and restotalion pniud, Ixndn sh,dllJ:lve IIIC lighl 10 hold such insurance proceeds utili! Lender has had an oppnrtunily It) i]SpeC! such PIIIl'llly III ensure lhé work h;ls heén cnmpletéd to Lender's salisi'actinn, prnvidL'l1 th,l( "uL~h inSpt'dion sll:dl he lInderlaken promptly. Lender I11ftY dis!ltlrsL" [Jmceeds for lht, rC'pairs <lnd reSl"r¡llltln ill :1 single: [I~lymeJlt or in a SClles of progress payments as the wnrk is L"ul11pleréd, Uliless ,1n ;·Ignc·ment is made in writing or AII¡d¡,_,t!dc Law requires inlerest to be paid on sllch insmance pnlcL·cds, lxndLT shall not he required Il) pay Btinnll'er any interest ur éarnings un such proceeds. Fl'L's fur f'ubliL· adJllslers, or olhL:" third p:lrties, rd,lined hy Borrower shall not be paid out of the insurance proclTds ami sltall be the sole oIJlig;llit)j of Bttllowel. If Ihe restoration or repair is not eL'onomic¿dly t'ea,;¡hle or Lender's secmit)' would he lessL'I1L'd, ¡ilL· insurance proceeds shall be applied to the SIlins scclJlùl hy this SecurilY [llsrIUl11elll, wllL'll1l'1 llr I¡"'¡ thell tille, with HUNTER. BM'! TERlvJ lEJ7:i3:3G2 o IlIlIi,".I:> ~ ·6(WY) 100051 ® -. -.------ PdU8 6 uT 1 b ¡:(Jtltl Jn~;l 1/01 ..",;1;(';::;;' ....-'.,.. ;' ('\ (') ;", {\ t,·" ..' .,j U v -.) 4 j--f!ik:.J '.j) '-..1;- the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiat¡; and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate ami settle the claim. The 3D-day period will begin when the notice is given. In either event, or if Lender acquires the ProP¡;rty under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicabk to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's priucipal residence within 60 days after the execution of this Security Instrument and shal1 continue to occupy the Property as Borrower's principal residence for at least one year after 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. 7. Preservation, Maintenance and Protection of the Property; Inspcctions. Borrower shal1 not destroy, damage or impair the Property, al10w the Property to deteriorate or ¡;ommit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shal1 maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economical1y feasible, Borrower shal1 promptly repair the Property if damaged to avoid further deterioration or damage. If insuränce or condemnation proceeds are paid in 'connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only jf Lender has released proceeds for such purposes. Lender may disburse proceeds 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 sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the 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 to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shal1 be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or \\ ith Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Undcr this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property 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 attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Properly, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a hen which has priority over this Security Instnllnent; (b) appearing in court; and (c) paymg reasonable HUNTER.B&M TERM 11:)733362 o o -6(WY) 10005) ® Initials: ~- Page 7 of 15 Form 3051 1/01 ,. ",-,'0-' ;';'.'.<' ' ¡. I.... "' . ... . ,; (',..1\ n "'u ,_I V 'j 0 ~, . ,a18 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 Property includes, hut is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Sèction 9, Lender does nol have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not Liking any or all actiuns authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall becomL' additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, witb such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease, If Borrower acquires fée title to the Property, the leasehold and the fee titlt: shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the ~vlortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for tvlortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, al a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If snbstantially equivalenr Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of tbe separately designated payments that were due when the insurance coverage ceased to be in L'lïect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu 01 i\lortgage Insurance. Such loss rese:rve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall nul be required to pay Borrower any interest or earnings un such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (ill the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is ohtained, and Lender requires separately designated payments toward the premiums for ~\'lortgage Insurance, If Lenda required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the prcmiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refullllable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's ohligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does 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 to time:, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on tcrms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the: mortgage insurer to make payments using any source of funds ¡hat the mortgage insurer may have available (which may include funds obtaim:d from Murlgage Insurance premiums). As a result of these agreements, Lender, any pllIThaser of the Note, another insurer, ,my r,:insurer, any other entity, or any affiJiate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is orten termed "captive reinsurance." Further: (a) Any such agrcements will not affect the amounts that Born)\\'('r has agreed to pay for JHortgage Insurance, or any other terms of the Loan. Such agreements will not incrcase the alllount Borrower will owe for l\Jortgage Insurance, and they will not cntitle Borrowcr to any refund. HUNTER,ß&M TERM 115733362 0 <a -6(WY) 10005) ® IIJitials: Page 8 of 15 Form 3051 1/01 (' (~.... 1"1 : ~ :"~ 9 " ~ -' ~. , , ~ ' \.. , ~-..... \'-' \...0 ,~) -,~1 ., 1 ,~.~~:_- -j'.l8 (h) Any such agreements will not affect the rights Borrower has - if any - with respect to the :Mortgage Insurance under the Homeowners Protection Act of 1998 or any 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/or 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; Forfeiture. All Tvliscellaneous Proceeds are hereby assigned to and shaH be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applicd to restoration or repair nf the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such tvliscellaneous Proceeds until Lender has had an opportunity to inspect such Pruperty to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay fur the repairs and restoration in a singJe disbursernent or in a series of progress payments as the wurk is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on sllch tvtiscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Ì\lisccllaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the MiscelJaneous Proceeds shall be applied to the sums secured by this Security Instrument, whetller or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Properly in which the fair market value of the Property immediately before the partial taking, destruction, or Joss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Slnns secured by this Security Instrument shall be reduced by the amount of the tvliscellaneous Proceeds multiplied by the following fraction: (a) the total amollnt of the SlnllS secured immediately befure the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is kss than the amount of the sums secured immediately before the partial taking, destruclion, or loss in value, uuless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lemler's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing Ihe action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Prul'Lrty or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. HUNTER,B&M TERM 115733362 o G ·6(WY) (0005) ® Initials: --- Page 9 of 15 Form 3051 1/01 :.' .j~~~r~m~~~@m ;;,';'i, ','_,':'.','i ~' ,~ ,'} 'L F""¡ . -I' J¡ ,}) (~.J " .-\ ,', ,. " . . :,\ II ' . 0 '.' \.J \'.' \1 ...... 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification or amortization of the sums secured by this Security Instrument granted hy [eucler to Borrower or any Successor in Interest of Borrower shall not opèrate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not he requirC'd to COllU11ence proceedings against any Successor in Interest of Borrower or to refuse to extend timè fur payment or otherwisl: 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 payn1l'nts from third persons, elltities or Successors in Interest of Borrower or in amuunts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co· signer"): (a) is cu-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security InstrumeI1l; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by l.ender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be rclcased from Borrower's obligations and liability under this Security Instrument unless Lender agrees (0 sllch release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14, Loan Charges, Lender may charge Borrower fees for services performed in conneclion with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inslwction and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a spn:ific fee to Borrower shall not be construed as a prohibition on the charging of such fec. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximulllloan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan excœd the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing (he principal owed under the Note or by making a direct payment to Borrower. If it refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute 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 Security Instrument must be in writing. Any notice to Borrower in connection with this 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 Burrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender 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 through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mail ing it by first class mail to Lemler's address stated herein unless Lender has designated another addrcss by notice 10 Borrower. Any notice in connection with this Security Instrument shall not be dccmed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required undl'1 Applicable Law, the Applicable Law requirement wil: satisfy the corresponding requirement under this Security Instrument. HUNTER.B&M TERM 115733362 o C -6(WY) (0005) ® Initials: Pog" 10 of 1 5 Form 3051 1/01 ,.,.,.,. r, ,-\ /.... .'." 1 ' t I ~ ; 1'/ '~ .. oj \..) \,.., .L 1(i. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. AJI rights and obligations contained in this Security Instrument are subject to any rUluirernen[s and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to ,ìgrce by contract or it might be silent, blll such silence shall not be cnnstrued as <t prohibition against agrù~ment by CtHltracl. In the event that any provision or clause of this Security Instrument or the Note contlic[s Wilh Applicable Law, such conn ict shall not affect other provisions of tllis Security Instrument or the Nole which can be given effect without the con!1icting provision. As used in this Security lustrument: (a) worùs of the masculine gender shall mean and ¡¡¡dude corresponding neuter words or words of the feminine gender; (b) words in [he singular sh,tll mean and include [he plural and vice versa; and (c) the word "may" gives sole discretion without any oliligation to take ~UlJ action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. L8. Transfer of the Property or a Bendïl'Íal Interest in Borrower. As used in this Section 18, "Interest in the Property" llìeans 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, illstalllJll'lJt sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a futurl' date 10 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 ilJterest i,l Borrower is sold or transferred) without Lender's prior wrilkn consent, Lender may require immediate payment ill full of all sums secun:d by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited 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 date the notice is given in accordance with Section IS within which Borrower must pay all sums secured by this Security /¡lstrumenl. If Borrower fails to pay these surns prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand 0;1 Borrower. 19. Borrower's Right to Reinstate Ann Acceleration. If Borrower meets certain conditions, Borrower sha1l have the right to have enforcement of this Security Instrument discontinued at ~Il1Y time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale cOlitained in this Security Instrument; (b) such other period as Applicable Law might spl'cify tÓr the krminalion of Borrower's right to reinstate; or (c) entry of a judglnent enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Leuder a1l sums which then would be due under this SeclJiity Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instruml'nt, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and othn fees incurred fur the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender nuy reasonably require to assure that Lender's interest in tht: Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Secmity Instfllment, shall continue unchanged. Lender may require 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 check or cashier's check, provided any such check is drawn upon an instillltion whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Sccurity Instrument and obligations secured hereby shall remain fu1ly effective as if no acceleration had occurred. However, this right tl) reilistate sha1l not apply in the case of acceleration undcr Section 18. 20. Sale of Note; Change of Loan Scnicer; Notice of Grievance. The Note or a partial inlt:rest in the Note (together with this Security Instrument) can be sold one or more timl's without prior uotice to Borrower. A sale might result in a change in the entity (known as the "Loan Sl'rvicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other morlgage loan servicing obligations under the Note, this Security Instrument, and Applicable La I\' . There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which wi1l state thl' name and adùress of the new Loan Servicer, the address to which payments shOlilcl be made and any other information RESPA HUNTER,B&M TERM 115733362 o ~_ -6(WY) 100051 (!) Initj,ds: Page 11 of 15 Form 3051 1/01 ..'.'.-,....'.',... ,",',",:,-, . ~ . /' -~, ;.' ~~i::: I i" ,1....::1 ;' ¡-\ t'\ ,f .,; C) I,) ij \~.: L J'.'~w' requires in connection with a notice of transfer of ser\'icing. If the Note i,; slJld ,Ind Ihereai'ter the Loan is serviCt'd by a Loan Servicer other than th,' plIrchiN'r 1,1' the NOll', ¡he mortgage loan servicing obligations to Borrower will remain with the Loan Scrl'i,'er or he 11·:lnSf(Tred 1<'1 a SllCCl'ssnr 1.0:ìl1 St,rvicer ,Ind ,ilL' nol :ls~,"l1It~d by the Note purchasl"r unltss othtrwise plU\'ldnl by the NIJle ¡HIITllaser. Neither Borrower nor Lender lllay L'OmllWncc, join, (H hC,joinnl to any jlldi,·i:11 action (as eit]ILI an individllal litigant or the member or a class) th:lt ¡\lises I"rom the lither p:trly's all ions pursuant leJ Illis Security Instrumcnt or that alltges that []Ie (¡[her party has brtc·aeh,"tl any plOvision or, 01 ,illY duty ownl by reason of, this Security Instrllment, until sueh n"rrower or Lender ha~ lIotilied the olher party (with such notice gi\'cl1 in cOlllplianCt' wilh [he reqllirel1ll'nts oJ' Section 1'1) "I' such alkgnl breach ,1J1d :dTIJrded ¡he other party hereto a reasonablt periud after lile: giving ld· slldì [lutiC(' 10 take L',lrreclivc ,Il¡iun, If A ppl iC,lble LI\\' pro\' ides a time period which JllllSt ,'!.t¡I':e beft,re ccrlain :lc:I inn CUI be taken, tlwt time period will he deemed to be reasunable fur purpos('s of this paragraph. Tlk nOli,·c 01 i\l("(~ler¡tlinn and opportunity to cure given to ßorroll'l'r pursuant [[I Section 22 and Ihe nutiC<' or accdcr,ltion gi\','n to Borrower pnrsuant to Section 18 shall be deemed to ~::l[isfy the n¡dil·e a Ill! opportullity tl) Ld:.l' (·'lli'eclive actilln provision:> uf this Section 20. 21, ILLl.ilr¡)l)\h Suhstancl's. As used in this Section 21: (il) "(azilnlous Suhslances" are those substances defined as toxic or hazardnus SUhSUIIlCl'S, pe>lllllan[S, or waSIL'S by En\'irullilI,'ntal Law illld ¡he: following SUbSUIIll"·S: gasoline, kerosene, othl'r 111ll1milhle or toxic pL'lrokul11 prndul'ls, lllxi,' pesticides and herbie:ides, voLltile solvents, malcriilis uJIllainiug ilsbeslos or formaldehyde, aud r:ldioiIClil'L' UI,llcl i:lis; (b) "Envinlunk'nlid Law" means t'ederallall's and lilli'S nt' the jurisdictitJn \\Ill're the Prolwrty is kICaluJ tllilt relate to health, silfely or environmenl¡1i !\Il¡[''l"til\n; (c) "EnvironJlIL'¡ilaI Cleilllllp" includes ,l11Y response action, rern,'(\ial action, 01 n:mova! :lctil)n, as defined in Environmt'nlal Law; and (d) an "Enl'inlnllll'lltal Condition" means ;¡ condiliun Ihal can eIUSC', coutribute to, Ilr lìlherll'ise trigger an EII\'inJllllllïilal Cleanup. Borrower shaJl not cause or permit the prL'sence, use, disposal, sl(Jrage, or rcle,lse of illlY Ila/:lrdlILLs Substances, or threaten to releitse any Hitzanl-'lIs SlIbstances, on or in Ihe Plnperty, HIIITUWU shal/nol do, nor allow anyone else to do, anything ,tlleeting the Property (a) that is in violation or allY Fnvironlill'nral Law, (b) which neltes an Environrnental Condition, or (e:) which, due 10 th,' presence, lise, or release of a Hazardous Substance, creates a condition Ih;¡l adversely atlects the value uf the Properly. The preceding 111'0 sentencts shall not apply to tIll' presence, lise, or';[urage on the Prolkrly ,>I. :,IIJilll ljlI;¡ntitics of IIazardous Substances [hat arc gcnn;¡lIy recognized [0 be appropriale In lIorm¡1i rl'sidellli¡d uses ¡\lid to maintenance of the Property (including, hilt nol limited 10, hazardous sllbsUUII't'S in ccJnsUI!ler produels). Borrower shall prumptly give Lender written notice of (a) any invesligi1tioll, cbim, den],iJlll, lil\\'suil or other action hy any governmental or regulatory agency or pri\'¡lk party illl·olving the Property ill1d any Hazardous Suhstanl·e or EI1\'imnnlenl<tl Law of which Borrower has ,¡CIU:11 kl1tllllcdge, (b) any Environmental ('ondilion, including but not limited to, any spilling, kaking, discharge, release: or rlm':l¡ of release or ,1I1Y Hazardous Substance, and (c) :Iny CIJntlilion call.Sed by the presence, use or release lIf a Hazardous Substance which adversL'ly arkClS the value ,d' ¡he:: Property. II" B(\lTII\',ler k:IIî1S, or is notilïl'd by any governmental or regulatory autlj¡Jrity, or any private pa!·ly, [hat any remov,1i or nthn n'mediatiun of any Hazardnus Substance affecting the: Property is nel'e:ssary, Borrower shalllìfllllijJlly lake all neC<'ssary remt'dial actions in ,tccordance with [lll'ironmelll:d Law. Nothing hereiu shall IT,'ale' ilny obligalion on Lender for an Envirom11ental Cleanup. liUN1Tf< ,I3M1 fER/vI JJ5733362 () ~.6{WY) 100051 '''.J I¡"¡i¡ii:ìl~ r'ltJe 1 ¿ uf 15 Form 3()!j 1 1/01 ."-' .' " (\ n " ..; ,') .. ',) u I....}i J j' ~_ ~~.:~: ,:;:~ 8 NON-UNIFORM COVENANTS. Borrower and Lender further covenant amI agree ,IS follows: 22. Acceleration; Remedies. Lender shall give noticc 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 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is 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 notice may result in acceleration of the stuns 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 nOlh2xistence of a default or any othet" 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 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 attomeys' 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 with Applicahle 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 bc sold in thc manncr prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The procceds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attomeys' fees; (b) to all sums secured by this Security Instrument; and (c) any exccss to the person or persons legally entitled to it. 23. Release. Upon payment of all stuns secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. ""aivers. Borrower releases and waives aJl rights under and by virtue of the homestead exemption laws of Wyoming. HUNTER,B&M TERM 115733362 o CD -6(WY) (00051 ® Initials: --- Page 13 of 15 Form 3051 1/01 ;{~/;i¡f¡t!jr' .." , :-:- ".' ~,;,; ': '. . . "-<.. '.1·j~fJ ;. ;"''\ !1 f.,.., "I~' '1' . ,.,.' 1" ,.. '.. ,-' ,} L ..l c.. BY SIGNING BELOW, Borrower accepts and agrecs to the terms <tnd coven; nts contained in this Security Instrument and in any Rider executed by Borrower and record cd with it. /l/ " ~/ ,:;:7~ /~ . /:; /d 7· ¿~'/ ~ J. Hunte Witnesses: .?Q_>~=_____'U.. ___ . ..... .. - . (Seal) -Borrowèf :;l¿/~¿ / . /' ·1 / - ,--,,' ,/ ,~~ j __~___ _/--:___~ (Seal) t~e 1 l/M-:- Hunter -B¡¡rr¡¡wèI (Seal) ______~ (Seal) -Borrower -Bl)ITOWer (Seal) (Seal) ·Borrower -Bornl\Ver -Borrower -BoITo\ver (Seal) -~--- ,_ (Seal) HUNTER,B&M TERM 115733362 o G-6(WY) 100051 ® Page 1 4 of 1 5 Form 3051 1/01 ,--, )"', ,...... ., . :\_) (j 'j .,L 0 STATE OF WYOMING, Lincoln COlmty ss: The foregoing instrument was acknuwledged before me this r\lovemtJer 28, 2005 by Brian J. Hunter and Melissa M. Hunter. Husband and wlfe, as tenants by the entireties My Conilllission Expires: d' /)-/'/7 ,( /J' . L/'¿"·L-/'__/:I' 1/ !,j' , /1· [) 'ì'··, . \--,.-- / \( .j. ,// ,l ), .- Notary Public / ../ ,---.'.".. .-'"....'- 1...,.1":'.,', (''';;:.')1. ".,,¡;.i.II: ~"'-"~ HUNTER.B&M TERM 115733362 o Q -6(WY) 100051 ® Inulöls: --._-~ PuU" 1 5 of 1 5 Form 3051 1/01 "" ;_,; \...;.1- 0 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 28th 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 (the "Borrower") to secure Borrower's Note to THE JACKSON STATE BANK & TRUST (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 39 Meagan Road.Alpine.WY 83128 [Property Address] The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in covenants. conditions, and restrictions HUNTER,B&M TERM 115733362 o (the "Declaration"). The Property is a part of a planned unit development known as Trail Creek Subdivision [Name of Planned Unit Development] (the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent Documents. The "Constituent Documents" are the (i) Declaration; (ii) articles of incorporation, trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due. all dues and assessments imposed pursuallt to the Constituent Documents. MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie lVIac UNIFORM INSTHUIVIENT Form 3150 1/01 MW 11/04 G-7R (0411) ® Page 1 of 3 Illitials: VMP Mortgage Solutions, Inc. (800)521-7291 11111111111111111111111111111I11111 ~ ;::!: ~: " , ;.: . :-:' ',":"',',,','.', ~' () G '~:.i '} ,r-I. -:¡ B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and Iii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public liability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 11. E. lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender, F. Remedies. If Borrower does not pay PUD dues alld assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. HUNTER,B&M TERM 115733362 0 ê-7R (0411) ® Page 2 of 3 Initials: Form 3150 1/01 .'<.',,:.';;j'<,: r. !'" r' ') i (3" ·c.· ,: .... C J <. BY SIGNING BELOW, Bo lower accepts and agrees to the terms and covenants contained in this PUD Rider. æ/ ~ ' / -'// ,- /. /" '0/-7 v ,/.. .l.:;-~-7. z:::"~-'-----_(Seal) 7A," .." Æki an J. Hunter -Borrower (Seal) -Borrower _ (Seal) -Borrower (Seal) -Borrower HUNTER,B&M TERM \D-7R (0411) ® 115733362 Page 3 of 3 (Seal) -Borrower n.___ (Seal) -Borrower .._________ (Seal) -Borrower o Form 31501/01