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HomeMy WebLinkAbout914483 50879 (011' r·nr:8° ,'..)\)J N '(/-:..>. ". If,\ I r¡\Û) ¿.",/' After Recording Return To: RECEIVED 12/16/2005 at 10:30 AM RECEIVING # 914483 BOOK: 607 PAGE: 582 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY GMAC Mortgage Corp, 100 Witmer Road Horsham, PA 19044-0963 ATTN: Records Management (Space Above This Line For Reconling Data] Loan No. 587723305 MIN 1000375-0587723305-9 MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are a]so provided in Section 16. b (A) "Security Instrument" means this document, which is dated December 13, 2005 ,together with all Riders to this document. "Borrower" is (B) Carson J. King~ a single man /'Lú '-l !; ) ,71 Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage E]ectronic Registration Systems, Inc. rvŒRS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, teL (888) 679-MERS. WYOl\HNG n Single Pamily n Pamúe MaelPredilie Mac UNIPORM INSTRUMENT Form 3051 1101 (Page 1 of 18) 329166576 Initials: Gl\IACl\l- CMS.0042,WY (0001) ~lL 346 'I ('¡ " ~" /." ';: '8....·,r'f. ,I) "", ,'~ I ~ /":, :,I,'¡ ~J::JJ 1\.03 ~-~L··2 . IJ.....J!j nr:c-:'oQ3 ,) \~ J (0) "Lender" is G~~C Mortgage Corporation Lender is a Corporation laws of Pennsylvania 100 Witmer Road, P.O. Box 963, Horsham, PA organized and existing under the . Lender's address is 19044 (E) "Note" means the promissory note signed by Borrower and dated December 13 , 2005 . The Note states that Borrower owes Lender One Hundred Twenty Thousand and 00/100 Dollars (U.S. $ 120 ( 000 . 00 ) plus interest. Borrower has promised to pay this deht in regular Periodic Payments and to pay the debt in full not later than January I, 2036 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property, " (G) "Loan" means the debt evidenced by tIle Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due nnder this Security Instrument, plus interest. (H) "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 applicable]: D Adjustable Rate Rider D Balloon Rider D Other(s) [specify] D Condominium Rider D D Biweekly Payment Rider D D Planned UnitDeveIopment Rider Second Home Rider 1-4 Family Rider (l) "Applicable Law" means all controlling applicable federal, state and local statntes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial iustitution to debit or credit an account. Snch term illcludes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described jn Section 3. (1\1) "l\fiscellaneous Proceeds" means any compensation, sèltlemellt, 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 to, 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) núsrepresentations of, or omissions as to, the value and/or condition of the Property. \VYOl\lING -- Sm¡¡le Famil)' -- Fannie Mae/Preddie Mac UNJPORM INSTRUMENT FOl'm 3051 1/01 GMACl\1· CMS,0042.WY (0001) (Page 2 of 18) Initials: ~~ : L. ~ '.¡' " r ,n.. A' "i A1 Q 3 \i,.j~ .J'L/=kLi2.~" ," ~(·r-8 ,; , 11 : r", ' iJ: '.4 \~, \4 '-J (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal aIld interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.s.e. §2601 et seq.) and its implementing regulation, Regulation X (24 C.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 Instnunent, "RESPA" 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 "tèderally related mortgage loan" under RESP A., (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, 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) Ùle performance of Borrower's covenants and agreements under ùÜs Security Instnunent and Ùle Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, Ùle following described property located in the County [Type uf Recurcting J urisdictiull] of Lincoln [Name uf Recunting Jurisdiction] SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF. which currently has the address of 182 Trail Drivef [Street) Alpine , Wyoming 83128 ("Property Address"): [City) [Zip Code) TOGETHER WITH all the improvements now or hereafter erected on Ùle property, and all easements, appurtenances, and fixtures now or hereafter a part of the property, All replacements and additions. shall also be covered by this Security Instrument. All of Ùle foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in ù1Ïs Security Instl1lment, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. \VYOl\HNG -- SllIWePamily-. Pamie Mae/Preddie Mac UNJPOR~! I,NS'TRlIMENT Form 3051 1/01 (\ 1./ GMACM - CMS,0042.\VY (0001) (Page 3 of 18) Initials: "-!/ L . i ~ -' " ¡ ~ ~j~ :lf~¡i¡~;~¡~¡j¡; i; ,i . ,..,-...............,, ." ,0Ir'·3 -",,': t'\: ("'1 :!i.'f" . .~~~;--~~"-lf~ nrr;Q~ '.' ',) \: U 0 V BORROWER COVENANTS tllat Borrower is lawfully seised of tlle estate hereby conveyed and has the right to mortgage, grant and convey the Property and tllat the Property is unencumbered, except for encumbrances of record. Borrower warrants and \vill defend generally the title to the Property against all daims and demauds, subject to any encumbrances of record. THIS SECURITY INSTRUtvfENT combines uniform covenants for national use and non-unifonn covenants witl¡ limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORJvl 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 tlle Note and any prepayment charges and late cbarges due under tlle Note, Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instnnuent shall be made in U .S, currency. However, if any check or other instrument received by Lender as payment under the Note or tl1Ìs Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of tlle following forllls, as selected by Lender: (a) cash; (b) money order; (c) certitied dieck, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at tlle location designated in the Note or at such otlltr location as may be designated by Lender in accordance with tbe notice provisions in Section IS. Lender lllay return any payment or partial paymeJlt if the payment or partial payments are insufticient to bring the Loan current. Lender may accept any payment or partial payment insufticient to bring tlle Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial P'!yments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, tllen Lender need not pay interest 011 unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so witllin a reasonable period of time, Lender shall either apply such funds or return tllem to Borrower. ]f not applied earlier, such funds will be applied to tlle outstanding principal balance under tlle Note immediately prior to foreclosure. No offset or claim which Borrower núght have now or in the future against Lènder shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the folJowing 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 amounts shall be applied tìrst to latè charges, second to any other amounts due under tl1Ìs Security Instrument, and then to reduce the principal balance of the Note. LOAN NO: 587723305 ~ WYOl\lING -. Si gle Family.. F,"ulie Mae/P"ddie Mac UNlFORM INSTRUMENT Form 3051 1/01 k Gl\fACM . CMS.0042. WY (0001) (Page -I of J 8) J útials: tt.. (~ 'l'- -,"1 r'ï ~'?¡ l) "J ~. J ,,-lJ -,-'..'__' ~-~' t._~ U' U rnrr;RG.. ',' ,.I \.' 'J.J 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 delinquent payment and the late charge. If more than oue Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periudic Payments if, and to the extent that, each payment can be paid in fulL To the extent that any excess exists afte:r the payment is applie:d to the fuJl payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shaH be applied first to any pn:payment charges and then as described in Ùle Note. Any application of payments, insurance proceeds, or ~vfiscellaneous Procee:ds to principal due under the Note shaJl not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shaH pay to Lender on the day Periodic Payments are due under the: Note, until Ùle: Note is paid in fuJI, a SUlll (the: "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over ùÚs Security Instrument as a lien or encumbrance on Ùle Property; (b) leasehold payments or ground œnts 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 Lender in lieu of Ùle payment of Mortgage Insurance premiums in accordance with Ùle provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require Ùlat Community Association Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees, and assessments shall be an Escrow Item. Borrower shaH promptly furnish to Lender aH notiœs of amounts to be paid under ù1Ìs Section, Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or aH Escrow Items. Lendermay waive Borrower's obligation to pay to Lender Funds for any or aH Escrow Items at any time. Any such waiver may only be in writing. In Ùle event of such waiver, Borrnwe:r shaH pay directly, when and where payabIè, Ùle amounts due: for any Escrow Ite:ms tÜr which payment of Funds has been waived by Lender and, if Lender requiœs, shaH furnish to Lender receipts evidencing such payment wiù1Ìn such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for aH purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights unde:r Section 9 and pay such amount and Borrower shaH Ùlen be obligate:d under Section 9 to repay to Lender any such amount. Le:nder may revoke the waiver as to any or aH Escrow Items at any time by a notice given in accordance WiÙl Section 15 and, upon such revocation, Borrower shaH pay to Lender all Funds, and in such amounts, that are then required under ù1Ìs Section 3. Lender may, at any time, colJect and hold Funds in an amount (a) suftìcient to permit Lender to apply the Funds at the time specitïed under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A, Lendèf shaH estimate the amount of Funds due on Ùle basis of current data and reasonable estimates of expe:nditures of future Escrow Items or otherwise in accordance with Applicable Law. LOAN NO: 587723305 (\ / WYOMING n Sli¡gJe Pamily n Panrue Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 ~ 1L-- GJ\IACM - CMS.0042, WY (0001) (Page 5 of 18) Initials: ". ~ i.. ; i~¡; j~¡~¡~~;~i~·~!;¡:\::: .",.,,",''''''':'.-.' f·' t~ '~1_/~{,~[¡L83 (\. " (1 r- 0 t'1 \"_ I,) t ;:) 0 , The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution wllOse deposits are so in.sured) or in any Federal Home Loan Bank. Lemler shall apply the Funds to pay Ùle Escrow Items no later than Ùle time specified under RESPA, Lender shallllot charge Borrower for holding and applying the Funds, annually analyzing tile escrow account, or verifying the Escrow Items, unless Lender pays Borrower inten;st on the Funds and Applicable Law pc:rmits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required 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 Borrower, without charge, an annual accounting of tile Funds as required by RESPA. If there is a surplus of Funds hdd in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there 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 amount necessary to make up tile shortage in accordance with RESPA, but in no more tilan 12 monthly payments. If there is a deficiency of Funds held in escrow, as de tined under RESPA, Lèllder shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to nlLlke up the deficiency in accordance with RESPA, but in no more than 12 montilly payments. Upon payment in full of all SUIllS secured by this Security lnstmment, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, tines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, andComl1lnllity Association Dues, Fees, and Assessments, if any. To the extent Ùlat Ùlese items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security lnstmment unless Borrower: (a) agrees in writing to tile payment of the obligation secured by tile lien in a maImer acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests Ùle lien in good faitil by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of Ùle ]ien while those proceedings are pending, but OIùy until sllch proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordiIillting the lien to this Security Instrument. If 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 identifying tile lien. Within 10 days of the date on which tilat notice is given, Borrower shall satisfy the lien or t~ke one or more of tile actions set forth above in tilÍs Section 4, Lender may require Borrower to pay a one-time clJarge for a real estate tax veri tication and/or reporting service used by Lender in connection WiÙl this Loan. 5. Property Insurance. Borrower shall keep tile improvements now existing or hereafter en:c:ted on the Property insured against loss by tire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in tile amounts Gl\L\CI\I - CMS,0042.WY (0001) (Page 6 of 18) Initials: (j/L \VYOMING n Single Panuly n Paruue hlae/Frod(lle Mac UNIFORM JN~'TRtJMENT Furm 3051 1/01 , ' I. J ~~, ;¡'~~'i! "J '-" t-i! i~) --:1 ,~¿:~ù , nrr-::g, 00 .,'.) vv (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan, The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for tlood zone determination, certitication and tracking services; or (b) a one-time charge for tlood zone determination and certitication services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certitication. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency ìvfanagement Agency in cOllllection with the review of any tlood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage, Therefore, such coverage shall cover Lender, but núght or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might sig1úticantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 sllall become additional debt of Borrower secured by this Security Instrument. These amounts shall hear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, ami shall name Lender as mortgagee and/or as an additional loss payee, Lender shall have the right to hold the policies and renewal certitìcates. If Lender requires, Borrower shall prorl1ptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insnrance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/oras an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of 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 insurance proceeds until Lender has had an opportmúty to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. 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. U1ùess an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamiugs on such proceeds. Fees for public adjusters, LOAN NO: 587723305 \VYOMING .- Single P~l1i1Y u Pamlle Mae/Preddie Mac UNIFORM INSrRUMENT Form 3051 1/01 f'\ ~L--- Gl\IACl\I. Cl\IS.0042.WY (0001) (Page 7 of 18) Initials: \...:.,. " \. , '. .............,. ,':It !,C'ì.."t·)1 ''-¿dû " II r.: 8 9 '.J l: 0 . '.' or oÙler third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. ]f the restoration or repair is not economically feasible or Lender's security would he lessened, the insurance proceeds shall be applied to Ùle sums secured by this Security Instrument, whether or not tllen due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons tl1e Property, Lender lllay tile, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender tl1at the insurance carrier has offered to settle a claim, tllen Lender may negotiate and settle tllt claim. The 3D-day period will begin when tlle notice is given. In either event, or if Lender acquires tlle Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proœeds in an amount not to exceed the amounts unpaid under the Note or this Security InstIl.lll1ent, and (b) any other of Borrower's rights (other than the right to any refund of unearned prenúut1ls paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of LIle Property. Lender lllay use the insurance proceeds eitl1er to repair or restore: tlle 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 tlle Property as Borrower's principal residence within 60 days after tlle execution of tllÍs Security Instrument and shall continue to occupy tlle 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 circut1lstances exist which are beyond Borrower's control. 7. Preservation, l\1aintenance and Protection of the Pl'Operty; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or comlllit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in Older to prevent the Property from deteriorating or decreasing in value due to its condition, Unless it is detennined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring tlle Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for tlle 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 ohligation for tlle 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 ofthe improvements on the Property. Lender shall give Borrower notice at tlle time of or prior to such an interior inspection specifying such reasonable cause. S. Borrower's Loan Application. Borrower shall be: in default if, during the Loan application process, Borrower or any persons or e:ntities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, llIis1eading, or inaccurate information or statements to Le:nder (or failed to provide Lender with material information) in GMACl\-f - Cl\1S.0042.WY (0001) (Page 8 of 18) Initials: ~1L \VYOl\IING -- Single Pamily -- Pamie Mae/Preddie Mac UNJPORM IN;,TRlJMENT FOl'm 3051 1101 I... ,......,.,...... ':.....' ....:) /< ..:¡¡ .1-:'1·3' ,I ~ '.' " 'i"...." :;. j¡ ~-__> ¿~--' <-:l '. ¿ '-.j !\r,r:no ,~) t \.J C connection with the Loall. Material representations include, but are lIot 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 Under 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 andlor 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 Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying auy SIlins secured by a lien which has priority over ù1Ìs Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property andlor rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securi ng the Property includes, but is not limited to, enteriug the Property to make repairs, change locks, replace or board up doors and windows, drain water hom pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. AlùlOUgh Lender may take action under this Section 9, Lender does not have to do so and is not uncleI' any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by ùlÌs Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice hom 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 fee title to the Property, ùle leasehold and the fee title shall not merge ùllless Lender agrees to the merger in writing. 10. ,Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making Ùle Loan, Borrower shall pay ùle premiums required to maintain the Mortgage 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 rvfortgage Insurance, Borrower shall pay Ùle premiums required to obtain coverage substantially equivalent to ùle Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of ùle Mortgage Insurance previously in effect, from an alternate lJlortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender ÙIe amount of the separately designated paymellts that were due when Ùle insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of rvfortgage Insurance. Stich loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Burrower any interest or earnings on such loss reserve, Lender can 110 longer require loss reserve payments if J\-fortgage Insurance coverage (in the LOAN NO: 587723305 \VYOl\-llNG u Single Family u Famie Mae/Fred,he Mac UNlpORM INSTRUMENT Form 3051 lIOl GMACM - CMS.0042.WY (0001) (Page 9 of 18) Initials: ~\"L :",.¡ ".,'( ). ~~ I~; j:~ j~;¡;~i~ j¡j~Iif¡¡ t.:" ~ , ",r, r',... ,..' ,'" I, .'4 '. I ",'.;i.:l-i;::'-JY .'¡ r. c:: a 1 i.) ~.: V \.J / alllount and for the period that Lender requires) provided by an insurer se1ected by Lender again becomes availab1e, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a nOll-refundable loss reserve, until Ùle 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 App1icable Law. NoùÜng in ùlis Section 10 affects Borrower's ob1igation to pay iuterest at Ùle rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity Ùlat purchases the Note) for certain losses it lllay incur if Borrower does not repay ùle Loan as agreed. Borrower is not a party to Ùle Mortgage Insurance. Mortgage iusurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties ùlat share or lllodify ùleÜ risk, or reduce losses. These agreements are on terms and conditions ÙIat are satisfactory to Ùle 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 ùlat the mortgage insurer may have availab1e (which may include funds obtaiued from Mortgage Insurance premiums). As a result of these agreemeuts, Lenckr, auy purchaser of the Note, another insurer, any reinsurer, any oùler entity, or any aftiliate of any of the foregoing, may receive (direcLJy or indirectTy) 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 afti1iate of Lender takes a share of the insurer's risk in exchange for a share of Ùle premiuIlls paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not aff('ct the amounts that BOlTowel' has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements ,,,ill not affect the rights BOlTowel' has - if any - with respect to the Mortgage Insurance under the Homeowners Pmtection 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 :l\1ortgage Insurance terminated automatically, andlor to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of ^liscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. WYOMING -- Single Family -- Fannie Mae/FwJdie Mac UNIFORM JN~'TRUMENT Form 3051 1/01 GMACM - CMS.0042. WY (0001) (Page 10 of 18) Initials: \ik- '" '" 8·'~' ,i:'\ I~j) /..~ "l '-.¡ "-.~_/~-2I:.-J: ...·U ('J\ r- ~ 0 t') I",; t,) \; U J (.; If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of 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 Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on SLlch Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or eamings 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 tJÜs Security Instrument, whetJler or not then due, with the excess, if any, paid to Borrower. Such Miscellaneol1s Proceeds shall be applied in the order provided for in Section 2. In tJle event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to tJle sums secured by this Security Instrument, whetJler or not tJlen due, Witll the excess, if any, 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 tJle partial taking, destruction, or loss in value is equal to or greater than tJle amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otJlerwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of tJle Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the slllns secured immediately before the partial taking, destruction, or loss in value divided by (b) tJle fair market value of the Property inunediately 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 less than tJle amount of tJle sums secured immediately before the partial taking, destruction, or loss in value, mùess Borrower and Lender otherwise agree in writing, tJle Miscellaneous Proceeds shall be applied to tJle sums secured by this Security Instnnnent whether or not the sums are then due. If tlle Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in tJle 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 alltllOrized to collect and apply the Miscellaneous Proceeds either (() restoration or repair of the Property or to tJle 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 actioIl in regard to :tvtiscellaneous Proceeds. LOAN NO: 587723305 \VYOJ\HNG n SingJe Family·· Fannie ~laclFreddie ~bc UNIFORM INSTRUMENT Form 3051 1101 ~ lL GMACM - CMS.0042. \VY (0001) (Page 11 of 18) Juitia!s: ,f" "! F; :", ;>",',' '-".: 2Git-. r'nnr::,q0 '.' 'j '_,VVV Borrower shall be in default if any action or proceeding, whether c:ivil or criminal, is begun that, in Lender's judgment, could result ill forfeiture of the Property or other material impairment of Lender's interest ill the Property or riglJts under this Security Instrument. Borrower can cure such a default and, if accekration has occulTed, reinstate as provided in Section 19, by causing the actioll or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any él\vard or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be p¡¡id to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of tbe Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a 'Vaiver. Extension of the time for payment or moditication of amortization of the Stllns secured by this Security Instnuuent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the StllllS secured by this Security lnstrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less 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 ùlis Security Instrument but does not execute Ùle Note (a "co-signer"): (a) is C:O-siglúng ùlÌs Security Instrument only to mortgage, grant and convey ùle co-signer's interest in the Property under the tenns of this Security InstruIIlent; (b) is not personally obligated to pay Ùle sums secured by ùlÌs Security Instrument; and (c) agrees that Lender and any oùler Borrower can agree to extend, modify, forbear or make any accommodations WiÙI regard to the terms of this Security Instrument or Ùle !'\ote 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 Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security InstruJlJent unless Lender agrees to such release in writing. The covenants amI agreements of ùlÌs Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. \VYOì\HNG -- Single Family -- Faluue Mae/Freddie Mac UNIFORM JN~TRUMENT ¡'orlll 3051 VOL (,'. k GMACM - CJ\fS.0042.\VY (0001) (Page 12 of 18) Inilials: L I.. " , ',,¡.r3' "; Îj~ (1 }ó..,. t ' .!~"~"2.Q r-'~(''''~ . , ! \ ,~. í' .1· 'i..~ ;,) \_' J J l 14. Loan Charges. Lender may charge Borrower fees for services perfoJjned in connection 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, attorueys' fees, property inspection and valuation fees. In regard to allY other fees, the absence of express authority in this Security Instmment to charge a specitic fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are èxprèssly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is lïn:.tlly interpreted so that the interest or other loan charges collectèd or to be collècted in conneuion with the Loan exceed 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 alre:.tdy collected from Borrower which eXCèeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a 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 Instnllnent must be in writing. Any notice to Borrower in connection with this Security Instnllnent 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 :.tny one Borrower 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 proCèdure 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 mailing it by tirst class llwil to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lem1er. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. 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. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable law. Applicable law lllight explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a LOAN NO: 587723305 WYOl\lING n Single Pamily c' Pam;e Mae/Preddie Mac UNIPORM INSTRUMENT Form 3051 1/01 GMACM - CMS,()042.WY (0001) (Page 13 of 18) I¡úlials: Qtc ~. '. . ""--3'- ¡-d i- :~'¡'þ, ! . _ ._{(··~u (' 1- ¡-~ f:- (ì r~ L),._. i,) t~. ..j :j 0 prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note coutlicts with ApplicJble Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the cont1icting provision. As used in this Security Instmment: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discn:tion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Tnterest in ßorroweL As used in tllis Section 18, "Interest in the Property" means any legal or bendicial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales cuutract or escrow agreemè11t, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any fnterèst in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate paymèllt in full of all sums secured by this Security Instmment. 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: Borrowèf notice of acceleration, The uotice shall provide a period of not less than 30 days from the date tlJe notice is given in accordance witll Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies peruùtted by tl1Ís Security Instmment without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrnment; (b) such other period as Applicable Law might specify for the terminatiun of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instnllnent. Those conditions are that Borrower: (a) pays Lender all sums which tlJen would be due under this Security Instmment and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred ill enforcing tl1Ís Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for tlle purpose of protecting Lender's interest in the Property and rights under this Security Instnllnent; and (d) tak.es such actioll as Lender may reasonably require to assure tlJat Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require dUlt Borrower pay such reinstateurent sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certitied check., bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrnmentalit} or eutity; or (d) Electronic Funds Transfer. GMACM - Cl\1S.0042.\VY (0001) (Page ].:I of 18) Initials: ~~ \VYOlYIlNG n Single P"mily" Pam"e !..r.e/Preddie Mac UNIPORM INSTRUMENT Form 3051 1/01 !.. M .' "I -"1£13 ~~L·~i.:L¿d ~...... ,...... r-. r- ,- .. ,\("h d G ¡..' ~'-'} \...j V 0 ~.. Upon reinstatement by Borrower, t!lis Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicerj Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in Ule entity (known as Ule "Loan Servicer") Ulat collects Periodic Payments due uIICler the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, U1Ìs Security Instrument, and Applicable La w. There also nlight be one or more changes of the Loan Servicer unrelated to a sale of Ule Note. If there is a change of Ule Loan Servicer, Borrower will be given written notice of Ule change which will state Ule name and address of Ule new Loan Servicer, Ule address to which payments should be made and any other information RESPA requires in connection WiUl a notice of transfer of servicing. If the Note is sold and thereafter Ule Loan is serviced by a Loan Serviœr other Ulan the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. NeiUler Borrower nor Lender may commence, join, or be joined to any judicial action (as eiUler an individual litigant or Ule member of a class) Ulal arises from the other party's actions pursuant to ù1Ìs Security Instrument or Ulat alleges Ulat Ule other party has bn':~!l:hed any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notitïed Ule oUler party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded Ule other party hereto a reasonrlble period after Ule giving of sllch notice to take corrective action. If Applicable Law provides a time period which n1llst elapse before certain action can be taken, Ulat time period will be deemed to be reasonable for purposes of UÚs paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration givc:n to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are UlOse substances defined as toxic or hazardous substanœs, pollutallts, or wastes by Environmental Law and the following substanœs: gasoline, kerosene, other tlammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive mrlterials; (b) "Environmental Law" means f¡;deral laws and laws of Ule jurisdiction where the Property is located Ulat relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as detined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwis¡; trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release auy Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that LOAN NO: 587723305 WYOMING n Single Family n Falmie Mae/Fr<ddie Mac UNIFORM JNSTRUMENT Form 3051 1/01 (\ ~ GMACM - CMS.0042.WY (U()O!) (Page 15 of 18) luitials: l:. , . i; j ~ j ~;i~¡~i!;~j~li; ¡¡ .:( . . ...... . . "'8"</'1 .:, '", ' '" .; ',~i'-2 '-' '4 r' !-... r· r; {~~ t~l '¡) \, '"" 'J 4 adversely affects the value of the Property. The preceding two sentences shallnot apply to the preselice, use, or storage on the Property of small quantities of Hazardous Substances tll~lt are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in COllsumer products). Borrower shall promptly give Lellder written notice of (a) any investigation, c]aim, demand, lawsuit or other action by any governmeIJ(al or regulatory agency or private party involving the Property and any Hazardous Substance or Envirollmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of n~lease of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of tile Property. If Borrower learns, or is Jlotitied by any governmental or regulatory authority, or any private party, that any removal or other remediation of aJlY Hazardous Substance affecting the Property is necessary, Borrower shall pronlptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant 01' 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 eUl'e the default; (e) 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 SIlins secllI'ed by this Security Instrument and sale of the Property. The notice shall further inform BorrO\\('r of the right to reinstate after acceleration and the right to bring a court action to assel't the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specitïed in the notice, Lender at its option may require immediate payment in full of all sum,; 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 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 with Applicable Law. Lender shall give notice of the sale to ßorro\\'el' in the manner provided in Section 15. Lender shall publish the nlJtice of sale, and the Propel'ty shall be sold in the mannel' prescribed by Applicable Law. Lender or its designee may pUl'chase the Propedy at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or pel'sons legally entitled to it. WYOMING -- Single Family n Famùe Mae!Preelelle Mac UNIFORM INSTRUMENT Form 3051 1101 Q ~ GMACM - CMS.UU42.\VY (0001) (Page 16 of 18) Initials: "",' 1",] I'~ f"¡"~iI ~.c_{:Li::CjtLJJ ("n('(':~~o ;.. ~\) ~._ J 8 0 23. Release. Upon payment of all sums 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 f¡;e is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. 'Vaivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Q~~ ~f (Seal) -Borrower Carson J, Klng (Seal) -Borrower -, (, (Seal) - Borrower (Seal) -Borrower LOAN NO: 587723305 Witnesses: \VYÜl\fING -- Siugle Pamily·, Pamie Mae/Proddie Mac UNIPORM INSTRUMENT Form 3051 1101 Gl\fACM - CMS,U042.WY (0001) (Page 17 of 18) ,"( '0--" -:.._..:. "s--,ri 0> ('-'1\ ' ,l;J !" < '.\" .'," r., .~.-~ -- INDIVIDUAL ACKNOV,'LEDGMENT STATE OF WYOMING, COUNTY OF ~6f-eJj ) ) SS ) The foregoing instrument was acknowledged before me this December 13, 2005 (date) by Carson J. King, a single man My Commission Expires: (person ackuowledging) mO-ltLli Nutary Public ' LAURIE COE - NOTARY PUBLIC County 01 ti:'~~ State .of Teton \~j¡ Wyon ling My Commission Expires 9/12/2007 GMACM - CMS,0042.WY (0001) (Page 18 of 18) \VYOl\HNG -. Singl. P,unily -- Pamu. Mac!Pr.ddi. Mac UNIPORM INSTRUMENT Fun" 3051 1/0l InÍli"ls: Qk ( 1"\, ("; r:: n 9· ',)t,JJ' (~G9f ---- '~-~~-L83 Schedule A Wyoming Mortgage Given By: Carson J. King Lté ~~UXIlOŒâG:><i\VCj@VfXJK~~~<i\~X~1XMl<VCl<~~ìCXJðl<f<{i&XKf<{XM1Xf<{~¥ìCXW1<~l<~ ~~~rox~íN~X~roX~N*xroítí~xxìx~ìxKX~íxX*~~X~XíNXKN~X~xíí~~X~íXXMM $Qí~~~x~x~~w~x¥x~x~xkx See Exnibit' "A" r· !-., r r ," (') ',} l u u \. Page 1 ~~;(¡~~jj¡I¡~;¡(} .. .; IX:- l-~'¡·"j.' .'_~__¿GU ¡. I..... f' ~.. ' ....~ \. ',..i to· .i.. Exhibit "A" Lot 716 Lakeview Estates Ninth Filing, Lincoln County, Wyoming, according to that plat field in the Office of the Lincoln County Clerk on September 26,2005 as Plat No. 250-G. This is a First Real Estate Mortgage recording concurrently with a Second Real Estate Mortgage in favor of Mortgage Electronic Registration Systems, Inc., dated November 15, 2005, in the original amount of $22,500.00.