HomeMy WebLinkAbout914678
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R<::rurn To:
FHHLC - POST CLOSING MAIL ROOM
1555 W. WALNUT HILL LN. #200 MC 6712
IRVING, TX 75038
Pr<::par<::d By:
FIRST HORIZON HOME LOAN CORPORATION
3505 EAST OVERLAND DRIVE
MERIDIAN, ID 83642
ISpa('~ AlJOY" Thl5 LÎlw Fur IÜ'('unliug DataJ
MORTGAGE
MIN 100085200563382391
0056338239
RECEIVED 12/22/2005 at 4:17 PM
RECEIVING # 914678
BOOK: 608 PAGE: 95
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
DEFINITIONS
Words ns<::d in llluJtipJ<:: s<::crions of this docurl1<::nr ar<:: ddlned beJow and other words are ddìned in S<::ctions
3, II, 13, J 8, :20 and 21. Certain ruJes r<::garding Ihe usage of words used in Ihis document are aJso provided
in Seclion 16.
(A) "Security InstnJlllent" rneans this c)ocum"nl, which is dated December 16th, 2005
logether witll all Riders 10 Ihis document.
(B) "Borrower" is
BRENT R. BATTLESON &
MANDY A. BATTLESON , Husband & Wife
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Borrower is Ihemortgagor undn (his S<::curily Inslrum<::nt.
(C) "l\lERS" is ìvlortgag" Electronic R¡;gistra{ion Systems, Jnc. J\·IERS is a s<::parale corporalion that is aCling
snJely as a nominee for LeuJ"r and L",nd",r's SUcc¡;ssors and assigns.!\lERS is the mortgagee IIIHler this
Security Instrument. JvlERS is organiz",d and "xisting l.mckr ¡h" Jaws of Delaware, and has an address and
¡"kphoue numb",r of P.O. Box 2026, Flint, MI48501-2026, tel. (888) 679-JvŒRS.
WYOMING -Single Famlly- Fannie Mae/Freddie Milc UNIFORM INSTRUMENT WITH MERS
Form 3051 1/01
<D®-6A(WY) (0005)
Pagb 1 0115
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VI'.lP MORTGAGE FOR~IS· (800)521-7291
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(D) "Lender" ]s
FIRST HORIZON HOME LOAN CORPORATION
L"mler is a CORPORATION
organiz"d and "xisting und"r th" laws of THE STATE OF KANSAS
L"nd"r's addœss is 4000 Hori zon Way, Irving, Texas 75063
(E) "No Ie" n¡¡;ans the promissory note sign"d hy Borrow"r and dat"d December 16th, 2005
The Not" states that Borrower uwes L"nder
ONE HUNDRED THIRTY THOUSAND THREE HUNDRED TWENTY & 00/100 DolJars
(U.S. $ 130,320.00 ) plus inler"s!. Borrow"r has promised to pay this ckbt in r"gular P"riodic
Paym"nts and to pay th" d"bt in full not later than JANUARY 1, 2036
(F) "Property" m"ans th" propnty that is ckscribed below under th" heading "Transfer of Rights in th"
Prop"rry. "
(G) "Loan" m"ans th" deht evicknc"d by th" NOk, plus interest, any pr"paym"nt charges and late charges
due under the Note, amI all sums clue under this Securiry Jnstrum"nt, plus intn"st.
(1-1) "Riders" means all Riders to this Security Instmm"nt that ar" "xecukd by Borrower. Th" folJowing
Riders ar" to b" "x"cuted by Borrow"r [ch"ck box as applicable :
D Adjustable Rate Ricler
D BaJloon Ricler
D VA Rickr
D Condominium Rider
[K] Planœd Unil D"velopm"nt Rid"r
D Biweddy Paynwnt Rid"r
D S"conc1 Hom" Rickr
D 1-4 Family Rida
D Otha(s) ISlwcify]
(l) "Applicable Law" m"allS all cOlltrolJing appJicabk kc1eral, stat" amI local statut"s, regulations,
ordinances and admiJÜstrative ruks and ord"rs (that have th" df"ct of law) as wdJ as all applicahk tinal,
nOll-appealabl" judicial opinions.
(.1) "Community Association Dues, Fees, and Assessments" means all du"s, fees, ass"ssmellts and other
charg"s that are impos"d un Borrow,;r or th" Property by a condominium associatioll, hOlneown"rs
association or similar organization.
(I\.) "Electronic Funds Transfer" means any transfer of funds, other than a tnll1saction origillated by check,
draíi, or similar pap"r instnun"nt, which is iniliat"d through an el"ctronic tenninal, telephonic instrument,
computer, or magnetic tape so as to order, instruct, or authurize a financial institution to dehit or credit an
account. Such IeI'm includes, but is not limited to, POilll-of-sale transters, automated te]kr rnachine
transactiollS, transfers initiated by telephone, wire transfers, and automated clearinghouse Iransl'¡;rs.
(L) "Escrow Items" means those items that are desc:ribed in Section 3.
(M) "Miscellaneous Proceeds" means any c:ompensation, sdtlement, award of damages, or proceeds paid by
any third party (other tllan insuranc:e proce,;ds paid umj"r 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 Ih" Prop"rty;
(iii) conveyance in lieu of condemnation; or (iv) nlÌsrepresentations of, or omissions as to, the value anel/or
condition or th" Prop"rty.
(N) "J\Jortgage Insurance" m"ans insuranc" prokcting Lender against the nonpayrnent of, or default on, the
Loan.
(0) "Periodic Payment" means the regularly sdl"duled amount due t(¡r (í) principal and interesl under the
Note, plus (ii) any amounts under Section 3 of this S"c:urily Instrumeut.
(P) "RESPA" ]neans Ihe Real Estill¡; Sdtlernent Procedures Act (12 LJ. S. C. S"clion 260 I et seq.) and its
implementing regulation, Regulation X (24 c.r.R. Part 3500), as they might be arnellcbl from tin¡" to lime,
or auy additional or successor legislation or regu]ation ¡hat governs ¡he same subJ"ct matt"r. As us"d in this
Security Inslrument, "RESPA" refers to all requirements amI restrictions that are impos,;d in regard 10 a
"t(;dnally relat"d mortgage loan" even if tll" Loan cloes not qualify as a "federally rdated IlIortgag" loan"
under RESPA.
0056338239
Q -6A(WY) (0005)
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Initials:
(81) ~~~
Form 3051 1/01
Pag" 2 01 15
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(Q) "Successor in In/erest of Borroll'er" m¡;;1I1'i allY party ¡j¡at has taken IHIe lO tbe Property, whel]¡er or nor
¡hat paily has assumed Bonower's ubllgalioilS und¡;1 Illl' Nute dnd/or 11m Security InstrUJil"nL
TRANSFER OF RIGliTS IN THE PIWPERfY
This SecurilY InStrunkllr secures 10 Lellde:r: (i) lhe re: PilY rill' IIi of rile Loan, ami aj] r"lle:w,ds, eXkllsiolls ,Jild
Illudìl~CdtiollS or ¡lie NOle; alld (II) I]¡e perltllJl1ance: uf Bc)rro\\e:r's CUVc'I!;IIIIS dnd agreenlc'lIh ulIJer tbis
Security IlIstrunJeJl! ,lIld the NOle. FOJ Ihis pllrpo,e, Bonower cloes ]Ierehy Jilortgage, gr,llll ami convey
lO IvlF[{S (solely as nOlninee Ic)] Lender a Ill] Lelllkr's SllccessoJ.s and assigns) and io t]¡e SllCCeSsors
and dsslgns of MEJ{S, with po 11'''1' or salc: tile Òlluwing descrIbed prup"rty located
ill tIle' County of Lincoln
1'1')'1'" ur J(tC<Jrdilig furi,dicliuli]
IN;llne or l{cconling JUI"i.,,'dictji1ll]
LOT 10 OF STAR VALLEY RANCH PLAT 5, LINCOLN COUNTY, WYOMING
AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
ParcellD Nllrnber: County: 12-3419-01-2-01-009
137 BR.~lBLEBERRY DRIVE
STAR VALLEY RANCH
("Propl'rly:\ddr"ss"):
Ci ty: II'IlIch cunelltly has Ill" address of
[SI'coll
ICil)'! ,W)'urning 83127 ['li¡lCudc
TOGETHER WITH all rhe imprnvelllenfs now or llttedfrn erectl'd 011 ¡he properl)', ¡lJJd all eaSeJiléllts,
¡Ippurknances, amJ li.\lures nu\\' or hereafter a pMt of lite property. .1\11 repLlc"lllenls "ml addllioilS Sll,d] also
be Govered by ¡Jlis SeL'llrity Inslwrnenl. All uj ¡he forégoing is rc:fe:rre:d In in Ihis Securiry n.slrIlIlltlll ,IS ¡h"
"Prope:rty." l3onowe:r llnd<:rslalllls ,Illd agree:, ¡Ilat 1\fERS hulds only kgal tllle lu Ihe: ilHere:sh granlnl II)
Borrower in 11¡j, Secllrity InSlrIlIllenl, hlll, if ue¡;essary lu comply with Ltw or clIsloln, tvlERS (;IS nomiJiéé It)r
Lendn ami Lemler's snccessors ami assigll~) I\;IS rlie: riglit. to e.\erC1S~ any or all of ¡lioSt inic:resfs, Indlldillg,
hlll nnt JÌinikd to, tlie nglll 10 IlJre:cJUSé ami ,ell the Properly; ,lIld 10 lake: allY aClion rel)lll!"d of Le:nder
incllldlng, blll 1101 lImited (0, re!casing amlcance:llllg (lilS Se:cilrjlY JilslrllllleJlI.
BORJ(()WER COVENANTS (J¡¡t! Borruwer is LtwflllJy seised or (he es(aic: lin~hy conveyed ami lias
the rIgli( tu morrgag~, granl alld cou""y (lie Prnpeny a IlL I Ihill Ihe Pnlpnry is lIneIIL'lllnhered, exce:pt !Ùr
encumhrances of record. Borruwn warrallls ami will defeild geuerally Ille tille (u tlie PropeJlY agaiJLS( ,l!1
claims alld denland~, ~ilhJecl 10 auy e:IlClImhr,IllCéS uf record.
TH IS SEC U RfTY j N STRU MENT comhine, lIIJjjÙrll1 covenants fOJ lIaliollid lIse alld lIon-lIui form
cown;lIllS with limiled Vari;¡IIUIlS by juri,sdiGliolJ 10 G(lnSIJllllt a ulutllrrlJ se:cllrilY inslrllmélll cUI'ef1ng re:iil
prupnlY·
0056338239
<mÞ. -6A(WY) (0005)
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UN1FOR!v! COVENANTS. Borrow"r and L"nc!t:r covenant and agret: as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
Borrower shall pay wh"n chIt: the principal of, and illterest Oil, the dt:bt evidenced by tht: NOIt: and any
prt:paynJent charges and lale charges due undn the Note. Borrow"r shall also pay funds for Escrow Itt:ITlS
pursuant 10 Section 3. Payments dut: under the Note and this St:curity Instrumelll shall be made ill U.S.
currency. However, if any check or other instnuTlent receiv"d by Lender as payment und"r th" Note or this
Security Instrument is returned to Lender uupaid, Le:llder may re:CJuire: that any or all subse:C uent payme:nts
due: unckr the: Note and this Se:curity Instrume:llt be: mack in one or more: of the following furms, as sdected
by Lendn: (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 whuse deposits are insured by a tederal agency,
instrumentality, or entity; or (d) Electronic Funds TratlStÚ.
Paymeuts are deemed reœived by Lenckr when reœived at the location designated in Iht: Note or at
such other location as may be designated by Lender in accordance with the notice: provisions in Section ] 5.
Lender may return any payment or partial payment if (he payment or partial payments are insullicient to bring
the Loan current. Leuder may accept any payment or partial payment insutlicient to bring the Loall current,
without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paymt:nts in
(he future, but Lendn is not obligatt:d to apply sllch paymeIlls at tilt: tinœ such payments are accepted. If each
Pc:riodic Payment is applic:d as of its sch<;:duled dut: date, tht:n Lendc:r ll<:t:d not pay interest on unapplied
funds. Leneler may hold such unapplied funds until Borrower make:s paynJt:nt to bring tile: Loan current. If
Borrowe:r does not do so within a rt:asonable period of time:, Lenclt:r shall e:ither apply such funcls or re:turn
the:m to Borrower. If not applied e:arlier, such funds will be applied to the: outstanding principal balance: unckr
the Note immediately prior to foreclosure. No offSd or claim which Borrower might have now or in the
future against Lenckr shall relieve Borrower from making paYll1ents due unde:r the: Note: ami this Security
Instrurnent or performing the: cownants and agree:Jl1tnts secure:d by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise: described in this Se:ction 2, all payments
accepted aud applied hy Leuder shall he: applied in Ihe: JÜllowing order of priorilY: (a) inte:rest due under the:
Note; (b) principal due under the Note; (c) amounts due umkr Section 3. Such paYJl1e:nts shall bt applied to
each Periodic Payment in the order in which it he:came due. Any Je:maining amounls shall be applied tirst to
Jate charges, second to any other amounls due undt:r this Security Instfllln"lIt, and th"n 10 re:duce the priucipal
balance of (he Note.
If Lemler re:ceives a payrnent from Borrower tÖr a cldinquent Periodic Payment which includes a
sufticient amount to pay any Jate charge due, Ihe: payme:nt may be applied 10 the delilllllle:nt payme:nt and the:
late charge. If more: than one Periodic Payment is outstanding, Lender may apply any payrnent re:ce:ived from
Borrowe:J 10 the: re:payment of the Periodic Payme:nts if, and 10 Ihe extent that, each paYlnent can be: paid in
full. To the: exte:nt that any excess exisls alter Ihe paymeut is applied to the full paymellt of one or more
Pe:riodic Payments, such exceSS may be: applied to any late charges due. Voluntary pre:payme:nts shaH be
applied lirst to any pre:paymenl chargts and then as de:scribe:d in Ihe Note:.
Any applicatiun uf payments, insurance: proceeds, or Miscellaneous Proce:eds to principal due under the
Note shall not eXlend or postpone: the dUt: date, or change the alllount, of the Ptriodic Paymtnts.
3. Funds for Escrow Items. Borrower shall pay to Le:nder on the day Periodic Payments are due unckr
the Note, until the Note is paid in full, a sum (the: "Funds") to provide: for payment of amounts due: for: (a)
taxe:s and asseSSJl1e:nts and othe:r ittms which can altain priul1ty ovtr Ihis Stcurity Instrum"nt as a lie:n or
enclllubrance on the Prope:rty; (h) leasehold paynle:nts or ground re:nts on the: Prope:rty, if any; (c) pr<;:l1Iiul1ls
fÖr any and all insurance re:C uired by Lenckr under Section 5; and (d) Murtgage Insurance premiums, if any,
or any surns payabk by Borrowe:r to Lender m lieu of ¡he paYll]<;:nt of Jv!ortgagt: Insurance pre:miulJls in
accordance with the provisiuns of Section 10. These items are called "Escrow Iterns." At origination or at any
time during the term of the Loan, L"ncltr may requirt: that Comrnunity Association Dues, Fe:es, anel
Assessrne:nts, if any, be escrowed by Borrowa, anel such dues, fte:s and assessments shaJJ be an Escrow Item.
Borrowe:r shall promptly furnish to Le:nder all notices of amounts to be paid ulllkr this Se:ction. Burrower
shaJJ 11<\Y Lender the Funds for Escrow Ite:ms uuless Lender waives Borrower's obligation to pay the Funds
for any or all Escrow Items. Lende:r may waive Borrower's obligation 10 pay to Lende:r Funds tÖr any or all
Escrow Items at any time. Any sllch waiver may only be in writing. In the event of such waive:r, Borrower
shall pay directly, when and whe:re payable:, the: amounts due: for any Esc:row Items for which payrnent of
cD. -6A(WY) (0005)
®
P3go 4 of 15
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IllItlals j,l;ti--JìP3
Form 3051 1/01
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Funds has been waived by Lender and, if Lender requires, shall furnish to Lemler reL:eiprs evidenL:ing such
paymenr within such time period as Lender may require. Boru)wer's obligation to make such payments and
to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security
Instrument, as the phrase "covemwt and agreement" is used in Section 9. If Borrower is obligated to pay
Escrow Items directly, pursuant to a waiver, and Borrower fails 10 pay the amount due for an Escrow Ikm,
Lender may exercise its rights under Section 9 and pay such amount amI ßorrower shall th.::n be obligated
under S,::clion 9 to repay to Lemler any such amonnt, Lender may r.::voke Ih.:: waiver as to any or all Escruw
It.::ms at any time by a notiœ giwn in accordanc.:: wilh S.::crion 15 and, upon such r.::vocation, Borrow.::r shall
pay to L.::uder all Funds, and in such amounts, that ar.:: rhen reC¡llir.::d umkr ¡Jtis SeL:tion 3.
Lemler may, at any lime, collecl amI hold Funds in an amount (a) suftìL:i.::nr to permit Lender to apply
the Funels at the time specified und.::r RESPA, and (b) not to .::xceed Ihe maximum amount a lender can
require und.::r RESP A. Lender shall esrimate the amount of Funds due on the basis of curr.::nt data and
reasonable estimates of expenditures of future Escrow IklllS or otherwise in accorwlnce with Applicabk Law.
The Funds shall be Ileld in an institution whose Lkposits are insured by a federal agency, instrumentaliry,
or entity (induding Lender, if Lemkr is an institution whose d.::posits are so insured) or in any Federal Home
Loan Bank. Lender shall apply the fluids 10 pay the Escrow Items no later Ihan rh.:: time specified under
RESPA. Lemler shall not charge Borrower for hoJding and applying Ih.:: Funds, alJl1ually analyzing the
escrow account, or verifying the Escrow Items, unless Lemler pays Borrower inler.::st on Ille Funds and
Applicable Law pennits Lender to make such a charge. Unless an agreement is made in writing or Applicable
Law requires interesl to be paid on tht; Funds, Lt;ndn shall not be reLluired to pay Borrower any intert;st or
earnings on the Funds. Borrower and L.::nder can agrt;e in writing, howewr, that intert;st shall be paid on rhe
Funds. Lt;nder shall give to Borrower, wirllOut charge, an annual accounting of the Funds as n;quired by
RESPA.
If there is a surplus of Funds held in escrow, as detined under RESPA, Lender shall account to
Borrower IÒr the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as
detlned under RESPA, Lemler shall notify Borrower as required by RESPA, and Borrower shall pay to
Lemler the amount n.::cessary to make up tht; shortage in accordance with RESPA, but in no more than 12
monlhly payments. If there is a deficiency of Funds held in .::scrow, as ddined under RESPA, Lemler shall
notify Borrower as required by RESP A, and Borrower shall pay 10 Lender the amount necessary to rnakt; up
the deficiency in accordance with RESPA, hUI in no rnore than 12 monthly paym.::nts.
Upon payment in full of all sums secured by this Security Instrument, Lender shall prOllJptIy refund to
Borrower any Funds held by Lender.
4, Charges; Liens, Borrower shall pay all taxes, assessments, charges, fines, ami impositions
attribulilble 10 rhe Property which can attain priority over this Securiry Instrument, leasehold payments or
ground rt;nts on the Property, if any, and Community Association Dues, Fees, amI Assessments, it any. To the
extent that these items are Escrow Items, Borrower shall pay them in the llIill1n.::r provid.::d in Sectiol1 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unkss
BO\Tow.::r: (a) agrees in writing to the payment of the obligation secured by tht; lien in a mann.::r acceprabJe to
Lt;IJ(kr, but only so long as BO\Tower is perfÒrming such agreemenl: (b) contests the lien in good I~¡jrh by, or
defends against enforceJl1t;nr of Ihe lien in, legal proceedings which in Lender's opinion upt;rate to prevent the
entì:m:t;Jl1enl of the lien while those proceedings are pt;nding, but only until such proL:eedings ar.:: concluded;
or (c) secures from the holder of the lien an agreement satisfactory to Lender suburdinating the lien to rhis
Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain
priority over this Security Instnnl1t;nt, Lender may give Borrower a notice identifying the lien. Within 10
C-6A(WY) (0005)
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00 '~
Initials: ~__~_
Form 3051 1/01
Pag85 01 15
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days of the dale on which that notice is givtn, Borrowtr shall satisfy the lien or take one or more of the
actions sd j(¡rth abovt in this Section 4.
L¡;nckr may r¡;quire Borrower to pay a one-tinlt charge t(¡r a real tstalè tax veriJication amI/or reporting
service used by Lemler in connection with this Loan.
5. Property Insnrance. Borrower shall keep the improvelllents now existing or hereafter erected on the
Proptl-ry insur¡;d against loss by tire, hazards included within the term "extended coverage," and any other
hazards including, but nut limited tn, earthquakes amI tloods, j(Jr whid! Lemle r requires insurance. This
insurance shall be maintained in the amounts (including deductible levels) and tÖr the periods tltat Lemler
requires. What Lender requires pmsuant 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 bt exercistd unreasonably. Lender may require
Borrower to pay, in connection with this Loan, eitller: (a) a one-time charge for J100d zone determination,
certitìcation and tracking services; or (b) a one-tirue charge for tJood zone dettnnination and certification
services and subsequent charges each time remappings or similar changes occllr which rtasonably nÜght
affect such determination or œrtitication. Borrower shall also be responsible for the payment of any fetS
irnpostd by tIlt:: Federal Emergency Management Agency in connection with the review of any tJood zone
determination resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lemler Illay obtain ilL~uram:e
coverage, at Lemler's option and Borrowtr's expense. Lender is tInder no obligation to purchast any
particular type or amount of coverage. Theret(¡re, stIch coverage shall cover Lender, but might or lnight not
protect Borrower, Borrower's equity in the Property, or the cOIltents of the Property, against any risk, hazard
or liability and might provide greater or lesser coverage than was previously in eftè:'cl. Borrower
acknowledges that the cost of the iusurauce coverage so obtained might signi1ïcanrly exceed the cost of
insurance that Borrower coule) have ohlain<:d. Auy arnounts disbursed by Lender under this Section 5 shall
become additional debt of Borrown secured by Ihis Security lustrument. These aJJlonnts shall bear interest at
the Note rate from the date of disbursement and shall be payable, with snch interest, upon notice from Lemler
to Borrower requesling payment.
All insurance policies required by Lender amI renewals of such po]icies shall be subject to Lemler's
right 10 disapprove such policies, shall include a standard mortgage clause, amI shall name Lender as
JJlortgagee amI/or as an additional loss payee. Lender shall have the right to hold the policies amI renewal
certit1cates. If Lender r¡;quires, Borrower shall promptly give to Lender all receipts of paid premiums and
renewal notices. If Borrower obtaiIlS any form of insurance coverage, not otherwise required by Lemler, for
damage to, or destruction of, Ihe Property, such policy shall include a standard JlIortgage clause and shall
name Lender as mortgag¡;e and/or as 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 nol made promptly by Borrower. Unless Lemler and Borrower olherwise agree in
writing, any imurance proceeds, whether or not the underlying insurance was required by Lemler, shall be
applied to restoralion or repair of the Property, if the restoration or repair is econornically tC:-asible ami
Lemler's security is not lessened. During such repair ami rE;storation period, Leuder shall have the right to
hold such insurance proceeds until Lender has had an opportunity 10 inspect such Properly to ensure the work
has been completed 10 Lender's satisfaction, pruvided that such inspection shall be undertaken promplly.
Lender may disburse proceeds f(¡r the repairs ami restoration in a single payment or in a series of progress
payments as the work is completed. Unless an agreernent is macle in wriling or Applicable Law requires
interest to be paid on such insurance proceeds, Lemler shall not be required to pay Borrowc"r any interesl or
earnings on sllch proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall lIot be
paid out of the insurance proceeds and shall he ¡he sole obligatiou of Borrower. If the restoration or repair is
not economically feasible or L¡;uder's securIty would be lessened, the ilL~Llrance proceeds shall be applied to
~ -6A(WY) (0005)
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the stuns secured by this Security Iuslrument, whether or uot then due, with the exœss, if any, paid to
Borrower. Such insuranœ proceeds shall be applied in the order proVIded tÜr in Sectiou 2.
If Borrower abandons the Property, Lender may jilt, negotiate amI settk any available imuranœ claim
amI rdated matters. ]f Borrower does not respond within 30 days to a notice li'om Lemkr that the insuranœ
carrier has offered to settle a clairn, then Lencle:r may negotiate and sdlle the c:laim. The 30-clay period will
begin when the notice is given. lu either event, or if Lender acquires thè Propèrty umler Section 22 or
othe:rwise, Borrower hereby assigns to Lemler (a) Borruwer's rights to any insuranœ procçe:ds in an amount
not to exœed Ihe amounts unpaid under the Note or this Security Instrument, and (b) any olher of Borrower's
rights (other than the right to any refund of llJlearned premiums paid by Bornnwr) under all insuranœ
policies covering the Property, insohn as sllch rights are applicable to Ihe coverage of the Propèfty. Lender
may use the: Ì1tsurance proceeds either to repair or restore thè Property or to pay amounts unpaid unda the
Note or this Security Instrumènt, wlwther or nol then due.
6. Occnpancy. Borrower shall occupy, establish, amI use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instnunènt amI shall continue to occupy thè Property as
Borrower's principal residence fÓr at least one Yèar after thè date of occupancy, unless Lender otherwise
agrees in writing, which consent shall not be nmeasolLlbly withhdd, or unless extenuating circumstances
exist which an; beyond ßorrower's control.
7. Preservation, J\1aintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property, allow tire Property tu deteriorate or commit waste on the Property.
\\fhether or not Borrower is residing in the Property, Borrower shall maiutain the Prop"rty in orrkr to prewnt
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 economically feasible, Borrower shall promptly repair the Property if
damaged to avoid furthèr deterioration or damage. If insurance or com!emnation proceeds are paid in
connection with damage to, or the taking of, th" Property, ßorrower shall be responsible for repairing or
restoring the Property only if Lender has released proœeds tì.n such purposes. Lemkr may disburse proceeds
Ü)f the repairs amI restoration in a single payment or in a series of progress payments as the work is
cOlnplçted. If the insurance or condemnation proœeds are not sulticient to repair or restoæ the Property,
Borrower is not relieved of Borrower's obligation 1ì.1I' the compktion of such repair or restoration.
Lender or its agenl may make œasonable entries upon amI impections 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 shall be in delimit if, during the LOill1 application process,
Borrower or any persons or enliries aCling at the direction of Borrower or with Borrower's knowledge or
consent gave materially false, miskading, or inaccurate information or statements to Lemler (or ¡¡tiled to
provide Lender with material intÒrmation) in connection with the Loan. lVlaterial representations include, but
are not limited to, representations conœrning Borrower's occupancy of the Property as Borrower's principal
reside nœ.
9. Protection of Lender's Interest in the Property and Rights lindeI' this Security Instrument. If
(a) Borrower fails to perlì.)nn the covenants and agreements cont;tiœd in Ihis Security Instrument, (b) there is
a kgal proœeding that Jllight signi1ìcantly affect Lender's inlerest in the Property amI/or rights under this
Security Instrument (such as a proœeding in baHkruptcy, probate, tì.)r condenmatioll or forf"ilure, for
enforcement of a lien which may attain priority over Ihis SecurÍly Instrument or to enlì.nce laws or
regulations), or (c) Borrower has abandoned the Property, then Lemler may do and pay for whatever is
reasonable or appropriate to protect Lender's interest in the Property and rights umler this Security
Instrument, including protecting amI/or assessing the value of the Property, and securing (tiKI/or repairing
the Property. Lender's actiems can include, but are notlirnited to: (a) paying any sums secured by a lien which
has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonablè
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Form 3051 1/01
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atlomeys' fel:s to protect its interest iu the Propert)' ¡lillI/or rights unckr this Security Instrument, including its
stcurl:d positiou in a bankruptcy procetding. SecuriJlg tht Property indud<.:s, but is not limit.;d to, .;nteriJlg tll';
Prop.;ny to rnak.; r.;pairs, change locks, rl:plac.; or board up ùoors and windows, drain water 1'1'0111 pipes,
elimim¡k building or other code violations or dangerous conditions, ami have utilities !umed on or otl.
Although L.;nder may take action ulllkr this SeefioJl 9, Ltnder does not haw to do so and is not under any
duty or ohligalion to do so. It is agr.;ed Ihat Lelllkr incurs no liability ¡Ör not taking any or all actions
authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
secured by this Stcurity Imtrument. These amounts shall b.;ar inttr.;st al the Nott rat.; tì-cm] the date of
ùishursemeut allll shall be payabk, with such inter<::st, upon notic.; from Leneler to Borrowtf rtquesting
payment.
If this Security Instrunwnt is on a leasehold, Borrower shall comply with all tht provisions of tht kase.
If Borrower acquires fee title to the Prop.;rty, the Jeasehold and tb.; tÚ titI.; shall not m.;rg.; unkss Lemler
agf<~ts to th.; merger in writing.
10. l\lortgage Insurance. If Lender required !vlortgag.; Insuranc.; as a COllllilion of rnakiug th.; Loau,
Borrower shall pay Ih.; premiums required (0 maintain (II'; !vlortgage Insuraucc in drect. If, for any r.;ason,
th.; Ivlortgage Insurance coverag.; requirt:d by L';lIlkr Ct:aSt:S to be availabk from tht: rnortgage insur.;r that
pr.;viously provided such insuranct: and Borrow.;r was requir.;cl to makt: st:parat.;ly cl.;signatt:cl paym.;nts
(owanl the pr.;rniums for !vlortgagt: Iusuranc.;, Born)wt:r shall pay th.; prt:miums requir.;d to obtain covt:rage
substantiaIly t:quivaJeut to tht: l'vlortgag.; Insuranc.; prt:viously iu dlect, at a cost substantially t:quivalt:nt to
the cost to Borrow.;r of the Mortgagt: Insurance prt:viously in e fkef, from an aItt:rnat.; mortgage insurn
st:lected hy Lt:mkr. J f substantially t:Cluivalent Mortgage lnsurauc.; coverag.; is not available, Borrowt:r shall
continu.; to pay to Lt:nckr th.; ¡¡mount of Iht: s.;parately lksignat.;el paYln.;nts that wer.; du.; wli.;n th<.: iusurance
cowrag.; c.;as.;d to be in t:ftect. L.;mkr will acœpt, us.; and retain tht:se paym.;nts as a non-rdlmclabl.; loss
rt:st:rw in ]j.;u of Ivlorrgage Insuranc.;. Such loss reserve sh¡j b.; non-retlllJdabk, notwithstanding th.; filct that
tht: Loan is uJtimatdy paid in full, and L.;nd.;r shall not b.; r';'luired to pay Borrow.;r any iut.;rt:sl or .;arnings
on such loss rt::st:rw. Lender can no long.;r rt::quir.; loss rt:st:rve paynwnts if Mortgag.; Insurance cov.;rag.; (in
th.; amount and tor tht: p.;riod that L.;mkr r.;quires) providt:d by au iusurer s.;lected by L.;mkr again b.;comes
availabJ.;, is obtaiœd, and Lemkr requires sepMardy designakd paymt:nts toward th.; pr.;miulI\s for Mortgagt:
hlsuranc<::. If L.;mkr rt:quir.;d Ivlortgage InsuJ((\JC\Ò as a coudition of making tht: LoaJl and Borrowt:r was
r.;quirt:cl to malœ separatdy d.;signitled payments toward th.; pr.;nÜullls for Ivlortgage Insurance, Borrow.;r
shall pay th.; pr.;miuJl1s requiœcl to maintain ¡Vlortgage Insurance in effèct, or to provide a J)t)n-rd'undable loss
r.;st:rw, until L.;ndt:r's rt:quir.;nwnl for Mortgage Insurance .;nels in accordanCJ;: with any writt<::n agrt:emt:nt
herwet:1I BOITow<:r amI Lendt:r providing for such t.;nnination or until tennination is r.;c¡uir.;d by Applicabl.;
Law. Nothing in this S.;ction 10 atl.;cl.'i BOITO\wr's obligatiou to pay intt:rt:st at Ih.; r¡¡(t: providt:d in th.; Note.
Mortgagt: Insurance rt:imburs.;s Lt:lIlla (or any t:utity that pmchases tlw Note) for c.;rtain losses it may
incur if Borrowt:r dOt:s not repay th.; Loan as agrt:t:d. Borrowt:r is uot a parry 10 tlit: Mortgagt: Insurance.
Mortgag.; insurns t:valuate th.;ir total risk ou all such insurauc.; in t{)rce from tillte to time, and may
t:nter into agrt:.;meuts wilh orIwr parties that shar.; or modifY th.;ir risk, or r.;dnct: loss.;s. Th.;st: agre.;m.;nts ar.;
on tt:nns aud conditions that aœ satisfactory to the l1Iortgagt: insurer and th.; olht:r party (or parti.;s) to th.;se
agreements. Tht:st agret:1l1t:nts may r.;quire til.; mortgage insur.;r to make paym.;nts using any sourCt: of funds
that the ]\ ortgagt: insur.;r may have availabl.; (which may includ.; funds obtain.;el froll\ tvlortgagt: Insurance
pœmiulDs).
As a r.;sult of these agrt:t:lDt:nts, L.;nder, any purchast:r of the Not.;, auother ¡lburer, any r.;insur.;r, any
otht:r ';lJlity, or any aftlli¡¡(e of any of Ih.; ¡{¡r.;going, may r.;c.;iv.; (dir.;ctly or inJirecrly) amounts that deril'<::
from (or might be cllaJ(1Cleriz.;d as) a pOrlieJIl of Borrow.;r's paynJ<:: ](S {)[' !vlortgag.; Insuranœ, in t:xchang.;
tor sharing or nlOdit)/ing the l1Iortgag.; insuær's risk, or reducing losses. tf such agre';lllt:nt provides that an
aHiliar.; of Leucler tak.;s a share of tht: insurer's risk in t:xchange tln a shar.; of tll'; premiums paid to the
insur.;r, rIw arrang.;m.;nl is often termed "captive r.;insurauœ." Furth.;r:
(a) Any slIch agreements will not affect the amollnts that Borrower has agreed to pay for
Mortgage Insllrance, or any other terms of the Loan. Such agreements will not increase the amount
Borrower will owe for Mortgage Insllrance, and they will not entitle Borrower to any refund.
Inili31s ED \~)
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Form 3051 1/01
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(0) Any snch agreements will not affect the rights Borrower has - if any - with (-espect to the
l\lortgage Insurance undcr the Homeowncrs Protection Act of 1998 or an)' other law. These rights may
include the right to receive certain disclosures, to relluest and ootain cancellation of the Mortgagc
Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any
Mortgage Insurance preminms that wcre nncarned at the time of such cancellation or termination.
II. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assiglled to amI shall be paid to Lemkr.
If [he ProperlY is damaged, such Miscellaneous Proceeds shall be applied 10 restnration or repair of the
ProperlY, if the restoration or repair is economically ¡',;asible and Lemlc:r's se:curiry is not lessened. During
such repair and restoration period, Lender shall have the right to hold such MisceJlaneous Proceeds unlil
Lemlc:r has had an opportunity to inspect such Property to ensure the work has beeu completed to Lender's
satisfaction, provided that such inspection shaJl be undertaken promptly. Lender rnay pay ¡Ór the repairs ami
restoration in a single disbursemellt or in a series of progress payments as the work is completed. Unless an
agreement is made in writing or App]icable Law requires interest 10 be paid on such Ivfiscellaneous Proceeds,
Lender shall nol be required to pay Borrower any inlerest or earnings ou such IvliscelJaneous Proceeds. If the
restoration or repair is not eCOl\OmicalJy feasible or Lender's security would be Jessened, the ¡vliscellaneous
Proceeds shal! be app1ied to the sums secured by this Secmity Instrumeut, whether or not lhen due, with the
excess, if any, paid 10 Borrower. Such MiscelJaneous Proceeds shall be applied in Ihe order provided fur in
Se:ction 2.
In the event of a total taking, destruction, or loss in vaJue of the Property, the Miscel1aneous Proceeds
shall be appJied to the SlUns secured by this Security Instrument, whether or not then due, with Ihe excess, if
any, paid to Borrower.
Tn Ihe event of a partial taking, deslrncrion, or loss in value of the Property in which Ihe tilir market
value of the Property immediately before the p¡lrtia] laking, destrnction, or loss in vaJue is equal to or greater
Ihan the arnount of tlte sums secmed by this Securily Instrument irmnedialdy before the partial taking,
destruction, or Joss in value, unless Borrower and Lemler otherwise agree in writing, rite: sums s¡;cured by tit is
SecurÍly Instrument shall be reduced by the amount of the Misce11aneous Proceeds multipJied by the
fol1owing fraction: (a) the lotal amount of the SllIns secured immediately before the partiaJ taking, destruction,
or Joss in vaJue divided by (b) the ¡ilir market value of th¡; Property imrn¡;diateJy before the partial taking,
destruction, or Juss in value. Any balance shall he paid to Borrower.
¡n (he ewnt of a partial taking, destruction, or loss in value of the Propert)' in which the bir market
value of the Property immediately heJÜre the partial raking, destruction, or loss in value is less Ihan the
amOl1nt of the sums secured iuunediately before the partial taking, destruction, or loss in value, unless
Borrower and Lemler otherwise agree in wriring, the Ivliscellaneol1s Proceeds shall be applied to the stuns
secured by this Security Instrument whether or not Ihe sums ,Ire then due.
Tf the Property is abandoned by Borrower, or if, aHer notice by Lender to Borrower that tile Opposing
Party (as defined i ] the next se ]tence) offers to make an award 10 settJe a clairn ¡Ör damages, Borrower titiJs
to respond to Lemler within 30 days after the date the notice is given, Lender is ,wllJOrized to collect and
apply Ihe Miscellaneous Proceeds either to restoration or repair of the Property or 10 the sums secured by this
Security Instrument, whether or not then due. "Opposing Party" means Ihe third parly that owes Borrower
Miscellaneous Proceeds or the parly against whom Borrower has a right of actio ] in regard to JvfiscelLmeol1s
Proceeds.
Borrower shall be in c1elilUlt if any action or pruceecling, whç;¡her civil or criminaJ, is begun that, in
Lemler's judgment, cuuld resull in forkirure of the Property or other material impainnenl of Lender's interest
in the Property ur rights under this Security Instrument. Borrower can cllfe such a cldilult and, if acceleration
has occurred, reÌ11~tate as provided in Section 19, by causing the action or proceeding to b¡; dismissed with a
ruling thai, in Lender's judgment, pr¡;cludes forkiture of the Property or other material impairment of
Lender's interest in the Property or rights under this S¡;curity Instrument. The proceeds of any award or claim
for damages that ar¡; attributable 10 the impairmenl of Lemler's interest in the Prupnly are hereby assigned
ami sha11 be paid to Lender.
AI1 Ivliscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
in the order provided ¡Ör in Section 2.
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Form 3051 1/01
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12. Borrower Not Released; Forhearance By Lender Not a 'Vaiver. Extension of the time for
payment or I1loditìcatiou of amortizatiou of the sums secured by this Security lustrumelH granted by Lender
to Borrower or any Successor in Inleresr of Borrower shall not opèratè to reJeasè the liability of Borrown or
auy SUCCèssors in lutèrest of Borrower. Lendèr shall not bè rèquired to conllnence proceedings against any
SUccèssor in Interest of Borrower or to refuse to extend time for payment or otherwise moditY aruortization
of the sums sècured hy this Sec:urity Imtruruent by rèason of any demand rnadè by thè original Borrower or
any Successors in Interest of Borrower. Any forbearanc:e hy Lemkr in èxercising any right or œmedy
inc!uding, without ]imitatioJl, Lender's acceptanc:e of paymènts ti'om third persons, entitit:s or Succt:ssors in
Intt:rest of Borrower or in aUloun!s It:ss than the amount then dUè, shall not be a waiwr of or preclude the
t:xercist: of any right or rèmedy.
13. Joint and Several Liability; Co-signers; Successors and Assigns ßound. Borrower covenants aud
agreès that Borrower's obligations and liability shall he joint and several. However, any Borrower who
co-signs this Security Instrument but dot:s not execute the Note (a "co-signer"): (a) is co-signiug this Security
Instrument only to mortgage, gran! and convey tht: co-signcòr's interest iu tht: Property under the terms of this
Scòc:urity Instrument; (b) is not personally obligatèd to pay the surns secured by this Security Instrument; ami
(c) agrees that Lènder and any other Borrower can agrèe to èxtend, modify, forbear or makè any
accommodations with regard to the teITns of this Security InstnllTlèut or the Notè wirhout the co-signèr's
consent.
Suhject 10 the provisions of Section 18, any Successor in Intefèst of Borrower who assumèS Borrower's
obligatiom under this Security Instrunlènt in writing, amI is approved by Lender, shall obtain all of
Borrower's rights and heudits umkr this Security IIlSrrument. Borrower shall not he released from
Borrower's obligations and liability under this St:curity lustrull!ènt unless Lender agrees to such rekase in
writing. The covenants ami agreements of this SèCurity Imtrument shall bind (èxcept as provickd in Section
20) ami hendit thè successors and assigns of Lenckr.
14. Loan Charges. Lèmkr may charge Borrowèr tàs for service:s pt:rfoITned in connection witll
Borrower's debuH, for the purpose of protecting Lèmkr's interest in Ihe Property and rights under this
Security Instrument, including, but not limited to, attorneys' fees, property iuspectiou ami valuation ft:ès. In
regard to any other fees, thè absence of express authority in rhis Security Instrument to charge a specitic tee
to Borrowtór shall not be construèd as a prohibition on the charging of such tà. Lemkr may not charge feès
that art: expressly 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 hnally in!èrprèted so
that the interest or other loan charges collected or to bè collected in connedion with Ihe Loan exce:ed the
permitted limits, then: (a) any such loan charge shall he reduced by the amount nècessary to reduce: the charge
to the permitted limit; and (b) any sums alrèady colJeded froll! Borrower which exce:eckd pènnitted limits
will he refumkd to Borrowèr. Lender may choose to makè this refund by rèducing the principal oWèd under
Ihe NOle or by making a direct paymènt to BorrO\wr. If a refund reduces principal, tht: rèduction will he
treated as a partial prepayment without any prepayment charge (whèther or not a prèpaymènt charge is
provided for unda the Note). Borrower's acceptance of any such refund mack by dirèct payment to Borrower
will c01l>titllte a waiwr of any right of action Borrowèr might have arising out of such overcharge.
15, Notices. All notices given by Borrowèr or Lèmler in COlUlèction wilh this Security Instrnment must
he in writing. Any notice to Borrower in connection with this Sècurity Instrumènt shall be deemèd to have
been given to Borrower when mailed by first class mail or whèn actually delivered to Borrowa's nOlice
address if sent by other rnèans. Notice to anyone Borrown shall constitute notice to all Borrowers unless
Applicable Law expressly requires otherwise. Tht: noticè address shall be the Property Address unless
Borrower has designa!èd a suhstit1lte norice address hy noticè to Lendèr. Borrower shall promptly notify
Lendn of Borrower's change of address. If Lènder specifiès a procedure for reporting Borrower's change of
address, then Borrowt:r shall only report a changè of address through that specified proce:durt:. Therè lIlay be
only one designated notice address under this Sècurity Instrument at anyone timè. Any notice to Lènder shall
be given by ddivering it or by mailing it by first class mail to Lender's address stated herein unkss Lender
has designatèd another addrèss by notice to BorrO\wr. Any notice in connection with this Sècurity Instrument
shall not be deemed to have been g¡wn to Lemler unlil actually rèceived by Lemler. If any norice required by
this St:curity Instrument is also required undèr Applicabk Law, thè Applicable Law reqllirènlèllt will satisfY
the corresponding requirernènt umkr this Security Instrument.
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] 6. Governing Law; Severability; Rilles of Constrllction. This Security Instrument shall be governed
by federal law amI the law of the jurisdiction in which the Property is Jocated. All rights and obligations
contained in this Security Jl1Stnuneut are subject to any requirements ano limitations of Applicable Law.
Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be si!ent, but
such si!ence shaJJ not be construecl as a prohibilion againsr agreement by contract. In the: e:vent that any
provision or clause of this Security Instrume:nt or the Note: connicts with Applicable: Law, such connict shall
not affect other provisiol1S of Ihis Security Instrument or the Note which can be given etTe:ct without Ihe
conf1icting provision.
As used in this Security Instrument: (a) words of the masculine gender shaJJ mean amI include
corresponding neuter words or words of the feminine gencler; (b) words in ¡]Je: singular shall rnean and
include: the plural amI vice vc:rsa; and (c) the: word "may" gives sole discre:tioll \\'ithoUI ¡my obligation to take:
any aL:tion.
]7. Borrower's Copy. Borrower shall be givc:n one copy of the Note amI of this Se:curity Jnslrurnelll.
18. Transfer of the Property 01' a Beneficial Interest in Borrower. As used in this Section 18,
"Interest in the Property" me:ans any legal or beneficial inlerest in the Propc:rty, including, but not limited to,
those beneficial interests transferred in a bond lor de:ed, contract for deed, instaJJment sales conlract or tscrow
agreement, the intent of which is the transter of title by Borrowtr at a future date to a purchaser.
If aJJ or any part of the Property or any Inttrest in tht Property is sold or transferred (or if Burrower is
not a natural person ami a btndicial inttrest in Borrowtr is soJd or Iranst'trrtd) without Lender's prior written
consent, Leneler may rtquire inuneeliate payment in full of aJJ sums secured by this Security InstnlJnenr.
However, this option shaJJ nut be exercised by Lender if such exercise is prohibited by Applicable Law.
If Lendtr exercises this optiun, Lenckr sJlaJJ give Borrower notiet of acceleration. The notice sha ]
provid0 a period of nor less than 30 days frolll the datt the notice is given in accordance with Section IS
within which Borrower Illust pay a ] surns secured by this Security Instrument. ]f Borrower titiJs to pay these
sums prior to the expiration of this period, Lender may invoke any remedies permilttd by this Security
Instrument wirhout furUler notice or dernand on Borrower.
]9. Borrower's Right to Reinstate After Acceleration. If Borrower metts certain condilions,
Borrower shall have tht right to have enforcement of this Stcurity Instrument discontinued at any time prior
to the earlitst of: (a) live days before sale of the Property pursuant to any powtr of sale containeel in this
Security Instrument; (b) such other period as AppJicable Law might specify tÖr the termination of Borrower's
right to reiustale; or (c) eutry of a judgment enforcing this Security Instrument. TJlOse conditions are that
Borrower: (a) pays Lencler a ] sums whjch then would be clue uncleI' this Security Instrument and lhe Note as
if no acceJeration had oCClHTtd; (b) cures any default of any other covenants or agreements; (c) pays all
expenses incurred in enforcing this SecllJity Instrument, including, but nol lirnj td to, reasonable a!lorneys'
fees, property inspçction ami valuation fees, and other lees incurred for the purpose of protecting Lender's
interest iu the Property and rights under this SecllJity Instrument; and (cl) takes s\lch action as Ltnder may
reasonably rtquire to assure that Lender's interest ill the Property and rights under this Security Jnstnunenl,
alld Burrower's obligation to pay the stuns secured by Ihis Security lnstrunltnt, shall continuç unchanged.
Lemler may require that Borrower pay such reinstatement stuns and expenses in one or more of the following
tÌJrms, as selected by Ltndtr: (a) cash; (b) money oreler; (c) certitied check, bank chtck, trtasurer's check or
cashier's check, provided any such check is drawn \lpon an institution whose deposits are insured by ;1 federal
agency, instrtlmentality or e:ntiry; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this
Stcurity Instrument amI obligations stcured here:by sl¡a ] re:tnilin fully d'lective as if 110 acceleration had
occurred. However, this right to reinstate shallllot appJy in the case of acceleration ullder Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a p¡utial iulertst in the
Note (together with this Secmity Instrument) can be sold one or II/ore: times without prior uotice to Borrower.
A sa!e rnight result ill a change ill the eutity (lmown as the "Loan Servicer") that collects Periodic Payments
due under tht Nott and this Security Instrumelll amI performs other mortgagt loan servicing obligations
\lnder the Note, tltis Security Instrument, and AppJicab!e Law. There also might be oue or more changts of
the Loan Servicer unrelated to a saJe of the Note. If there is a change of the Loan Servicer, Borrower will be
given written nutice of the cll¡ll1ge which will state the name amI address of the new Loan Servicer, tht
address to which paymeuts should be made and any other intÌJnnalion RESPA requires in connection with a
~®-6A(WY) (0005)
P8gö 11 of 15
(l~)
Initiols {;if> ~v
Form 3051 1/01
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notice of transfer of servicing. If the Note is sold a 11(1 thereaner the Loan is serviced by a Loan ServiceI' other
than the purchaser of the Note, the Illortgage loan servicing obligations to Borrower will remain with the
Loan ServiceI' or be transti;rred to a succe.';sor LO;tll ServiceI' and are not assumed by the Note purchaser
unless otherwise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be: joined to any judicial aClion (as eilher an
individual litiganl or the mernber of a class) that arises from Ihe other party's actions pursuant to this Security
Jnstnunent or that alkges that the other parry has breached any provision of, or any dUly owed by reason of,
this Security Instrument,nntiJ such Borrower or Lemler has notiJiecl the other party (with such notice given in
cOlllpJiance with the requirements of Section J 5) of such alleged breach ami anÜrded the other party hereto a
reasonable period aner the giving of sllch notice to take corrective action. If Applicable Law provides a time
period which nmst elapse before certain action can be taken, Ihat time period will be cleerned to be reasonable
for purposes of this paragraph. The notice of acceleration and opportunity to cure given to ßorrower pursuant
to Seclion 22 and the notice of acceleration given to Borrower pursnant 10 Section 18 shall be deemed 10
satisfy the notice and opportunity to take corrective aclion provisions of Ihis Section 20.
21. Hazardons Substances. As used in this S.;ction 21: (a) "j'{;¡zanlous Substanœs" are thuse
substanœs defiœd as toxic or hazardons substances, pollutants, or wastes by Envirolllnental Law and the
following substances: gasoline, kerosene, olher tlallllllable or toxic pdroleun¡ products, toxic pesticides aud
herbicides, volalik solvents, materials containing asbestos or fÜnnaldeliyde, and radioactive materials; (b)
"Environm.:ntal Law" means federal laws and laws of the jurisdiction whue the Property is located thaI relate
to h.;allh, safety or environmenral protection; (c) "Environmental Cleanup" inc!ltdts any r.;sponse aclion,
remedial action, or removal action, as detlned in Environmenlal Law; and (d) all "Environmtntal Couditioll"
means a cOlldition that can cause, contribute to, or otherwise trigg.;r all Environmenlal Ckallup.
Borrower shall IIOt cause or ptnnit th.; pn:s.;nce, use, disposal, storage, or release of any Hazardous
Substallces, or threaten to release allY Hazardous Substances, on or in th.: Properly, Borrower shall IIOt do,
nor allow anyont: else 10 do, anything affecting th.: Propc'rly (a) Ihat is in violation of any Environmental
Law, (b) which creates an Environmental Condition, or (c) which, due to the presellcc', lise, or rekase of a
Hazardous Substance, creates a condition that adversely affects the value of the Prop.:rty. The prec.;cling two
sentences shan not apply to the presence, use, or storage on Ihe Property of small quantities of Hazardous
Substances that are generally rt:cogniz.;d to be appropriate tu normal resjekntialuses amI to mainlellance of
the Property (inclnding, but not lirnited to, hazardous substances in consumc'r products),
Borrower shan promptly giv.; Lemler wrilten notice of (a) allY investigation, claim, demand, lawsuit or
other action by any goverHlllc'nlal or regulatory agency or private parly involving the Property and any
Hazardous Substance or Enviromnental Law of wlllch Borrow.;r has actual knowledge, (b) any
EnvironnJeIII.¡J Condilion, including but not lirnited tu, any spilling, leaking, discharge, release or Ihreat of
release of any Hazardous Substance, and (c) any condition caused by the pn:sence, use or release of a
Hazardous Substance which adversely aft(;cts the vaILle of the Property. ]f ßorrower leams, or is notified by
any governmental or regulatory anthority, or any private parly, that auy rerlloval or olher remediation of any
Hazardous Subsl;II!Cè affecting the Prop.:rty is necessary, Borrower shan promplly tak.; all Ilt::cessary remedial
actions in accordance with Environmental Law. Nothing hnein shan create any obligation on Lender for an
EnviromnentaI Cleanup.
C -6A(WY) (0005)
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1¡,ili"ls ¡j)¡f '4 {J
Form 3051 1/01
Page 120115
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NON-UNIFOJUd COVEN!\NTS. ßOITOWçr ;llId Lçlll çr 1urliler cO\'ÇII;¡nl ;¡lId ;¡glçç as ¡(¡¡lows:
22. Acrt'!eration; Renledies. Lender shall give notice to Borrower prior to accc~leration following
Burrower's Ilreach of any covenant or agreenlent in this Security Instrllment (lJld not prior to
acceleration lindeI' Section IS IInless ApplicalJIe 1.:111' provides otherwise). The notice shall specify: (a)
the defalllt; (LI) lhe actiun reqllired to cllre the defalllt; (c) a d:de, nul less than :)0 days from the date
the notice is gil'en to Borruwer, by which the defalllt mllst be cllred; and (d) that fail lire to clln: lhe
ddalllt un or I¡efore the date specified in thc' nutice may reslllt in acceleratiun uf the slims secllred IJY
this Secllrity InS(fllllll'nt and sale of (he Pruperty. The nutice shall fllrther inform Borrower of the
right to reinstate after accderation and the right to la'ing a cOllrt action to assert the lIOn-existence of a
ddalllt ur any other ddense of Borro\\'er to acceleratiun and sale. If the defalllt is not cured on or
IJefore the date speci!ïed in the notice, Lender at its option may r('(¡lIiI'e immediate pa)'lllent in 1'1111 of
all snms sC'l'llred by this Secnrity Ins(l'Illllent \\'ithont further lil'mand and may imul,e the pOIl'er of
sale and any other remedies permitted IJY ApplicalJle La\\'. Lender shall be en tilled to collect all
expenses inclIITed in pnrsning the remedies prol'ided in this Section 22, inclllding, bllt not limited to,
reasunabl(: attorneys' fees and costs üf tille el'idence.
' Lender inl'oJ,es the po\\'er of sale, Lender sllall gi\'e notice uf inlent to foreclose to Borru\\,('r
and to the person in possession of the Property, if different, in acconlance \\'ith Applical¡le La\\'.
Lender shall gil'e notice of the sale to 1\0rro\\'('r in the manner provided in Section 15. Lender shall
pnlllish the notic(' of sale, and the Property shall be sold in the manner prescrilH:d by Applicable La\\'.
Lellller or its desigllee IHay pllrchase the Property at any sale. The pruceeds of the sale shall [Ie applied
in the following orde,·: (a) (0 all expenses of the sale, includillg, hilt Ilot limited 10, reasonal¡le
attorneys' fees; (lJ) to all slims securc'd by this Security Instl'llment; ami (c) auy ncess to the persoll or
persons It-gally entitled to it.
23. lhlease. Upon p;lymelll of all slims sçclIrçd by Ibis SçclIrit)' IllStrlllllellt, Lemkr sh;¡tl rekase 11115
Securily ]ll\rruIIJenL Burrower shall pay any rccordalioil costs. Lendc:r ill;l)' ch;¡¡gç Burruwer a tee tÖr
réle;¡sing this SÇclIlIlyluslnlIneul, bul only il Ih,' Icc is paId 10 a IJunl p;¡rly ()r servicés rendered a Ill! IIle
cllClrging of IIIC ke is permilféd 1I1Idçr /\pplicClble L;¡w.
24. \\'ail'ers. Borrower releases ami waiws all flghls limier alld by virllle of the llOlIIc:s ç¡¡d è.\çmptiou
laws of WyoJllillg.
c!zþ. -6A(WY) (Cl005)
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BY SIGNING BELO\V, Borruwtr acctpts ami agrtts 10 tht knlls and covenants contained in this
Stcurity ImtrullJtnt anù in any Rider extcukd by Borrowtr and recorded with it.
Witnesses:
---
(Stal)
. Borrower
(StaI)
-Borrower
(Seal)
. BorrO\wr
0056338239
~-6A(WY) (0005)
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~NT R. BATTLESON -Borrower
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(Seal)
- Durrower
(StaI)
- Burrower
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- Borrower
(Seal)
-Borrower
Page 140115
Form 3051 1/01
:'8
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State of Idaho
ss
County of Jefferson
On this \ (D day of --\')CC - , 2005 before me t~: \ \\ -t,_.\~~.u/AC5c..)L) a notary public in and for said
State, personally appeared Brent R, Banleson and Mandy A. Battleson known or identi1ied to me to be the persons
Wh~'~' "~'~"'¡b'd to Ih, W:lh¡" ¡"'lm"""I, ,,,d ,,',;owl,dg'" 10 "" thot they m'uted Ih, '"""
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Notary I ublic "-
Residing at:
Commission Expires: Residing In Jefferson County
Commission Expires: 07-17-09
0056338239
ca -6A(WY) (0005)
®
Page 15 of 15
Form 3051 1/01
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PLANNED UNIT DEVELOPMENT RIDER
THIS PLANNED UNIT DEVELOPMENT RIDER is made this 16th day of
December, 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
FIRST HORIZON HOME LOAN CORPORATION
(tile "Lender") of the same date and covering tile Property described in the Security
Instrument and located at:
137 BRAMBLEBERRY DRIVE, STAR VALLEY RANCH, Wyoming 83127
[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 of Record
(the "Declaration"). TIle Property is a part of a planned unit development known as
STAR VALLEY RANCH ASSOCIATION
[Name of Planned Unit Development]
(the "PUD"). The Property also includes Borrower's interest in tile 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 ancl agree as follows:
A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the
PUD's Constituent Documents. Tile "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 ottler rules or regulations of the Owners
Association. Borrower shall promptly pay, when due, all dues and assessments imposed
pursuant to the Constituent Documents.
0056338239
MUL TISTATE
INSTRUMENT
Form 31501/01
PUD RIDER - Single Family
Fannie Mae/Freddie
Mac UNIFORM
G-7R (0411)
®
Page 1 of 3 Initials:
VMP Mortgage Solutions, Inc. (800)521-7291
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B. Property Insurance. So long as tile Owners Association maintains, with a generally
accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is
satisfactory to Lender and wtlictl provides insurance coverage in the amounts (including
deductible levels), for tile periods, am! against loss by fire, tlazards included within !tle term
"extended coverage," and any other 11azareJs, inclueJing, but not limited to, earttlquakes and
floods, for whic!1 Lender requires insurance, then: (i) Lender waives !tIe provision in Section
3 for the Periodic Payment to Lender of the yearly premium installments for property
insurance on ttle Property; and (ii) Borrower's obligation under Section 5 to maintain
property insurance coverage on !tIe Property is deemed satisfied to ttle extent !tlat 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 !tle
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 !tle 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 ttle Security Instrument, wtlettler or not
then due, wittl the excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower sllall take such actions as may be reasonable
to insure tllat ttle Owners Association maintains a public liability insurance policy
acceptable in form, amount, and extent of coverage to Lender.
D. Condemnation. The proceeds of any awareJ 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 11ereby assigned and shall be paid to Lender. Such
proceeds shall be applied by Lender to the sums secured by the Security Instrument as
proviejed 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 ttle 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 tile
Owners Association; or (iv) any action which would have ttle 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 and assessments when due, then
Lender may pay them. Any amounts disbursed by Lender um!er this paragraph F s~lall
become additional debt of Borrower secured by the Security Instrument. Unless Borrower
and LemJer agree to other terms of payment, these amounts sllall bear interest from the
date of disbursement at tile Note rate and sllall be payable, witll interest, upon notice from
Lender to Borrower requesting payment.
0056338239
\!D - 7 R (0411)
®
Page 2 of 3
Initials: ¡6.Ø-J1tt
~- Form 31501/01
;- ¿'-I
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BY SIGNING BELOW, Borrower accepts and agrees to ttle terms and covenants
in. t~s .PUD Ride. L,. )
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BRENT R. BA TTL SON -Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
0056338239
G-7R (0411)
®
Page 3 of 3
&It'''t7¡'}IJuIf%~
MANDY A. BATTLESON
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contained
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
Form 31501/01