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Home My WebLink About914777 51372 (C I-)A / (" 1\ Or' 6 0 ';.' I,.} V WIlEN RECmWED, [\,!AIL TO: Bank of lad,son Holc Post Officc Box 7000 Jackson, WYOi\lJNG 83002 RECEIVED 12/28/2005 at 10:12 AM RECEIVING # 914777 BOOK: 608 PAGE: 360 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 6 1 This Instrument was prepared by: Bank of lacl,son Holc Post ûfJicc Box 7000 Jackson, WYOMING 83002 307- 732-3053 MIN 100015700062327420 Loan Number: 116398-t-t6 Order Number: 5l3n (Space Above This Line For Recording Data) MOIlTGAGE DEFlNlTIONS Words used in multiple sections of this documtnt art de lined below and other words are de!ined in Sections 3, I I, ] 3, 18, 20 ami 2 ¡. Cat,¡in rules reg,lrding the usage of words used in this docLlment are alsu provided in Seclion I (¡. (A) "Sccurity Inslrumcut" means this document, which is dated Dcccm hCI' 21,2005, togdhn with all Ridns to this document. (B) "Borrowcr" is Jamcs C. Phillips and Amy J. Phillips hushand and wifc as tcnauls hy thc cntirctics. norrower is the mongagOl' under this Security Instrument. (C) "Lcndcr" is Bank of Jackson Holc, organized and existing under the Im\'s of\Vyoming. Lelldn's address is Post Onïcc Box 7000, .Jad,son, WYOMING 83002. Lender is the murtgageè under this Security Instrument. (D) "Notc" mL~arlS the promissory note signed by Borrower and dalèd Deccmhcr 21, 2005. The Note states that Borrower owes Lender ON E II LJ N DRED SIXTY-TWO THO USAND aud noli 00 Dollars (U .S. $162,00(1.00) plus interest. [Jo!Tower has promised [(] pay this debt in regular /'eriodic P,lyments ,lI1d to pay the debt in full not later than .January 1,2036. (E) "PI'operty" means tht property that is described below under the he,lding "fransfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges und Lite chargcs due under the Note, and all sums duc under this Security Instrument, plus inlel·est. (G) "Riden" mcans all Riders to this Security Instrument that arc executed by Borrower (check box as appl icable): o Adjustablc Ratc Rider [J Balloon Rider [J 1-4 Family Rider o Othcr (Specify) - Borrower. The following Riders arc to be executed by o o o Condominium r~idcr PI,l11ned Unit Development I<ider Biweekly Paymellt Rider [] Second I lome Rider o VA Ridcr (II) "Applicable Law" means all controlling applicnble federal, statc and locnl statutcs, rcgulations, ordinances and administrative rules ami ordcrs (that havc the eCkct of law) ,1S well as all applicable lillal, non-appe,dable judicial opinions. (1) "Comlllunity Association Dues, Fees, and Assesslllcnts" mcans all ducs, fees, assessments and othcr charges that are imposed on BorJ'l\lI'er 01' the Propcrty by a condominium association, hOnleOll'nel's associution or similar organization. (J) "Electronic Funds Transfel'" means any tl'cmsfer of funds, other than a transaction originated by check, draft, or similar pClper instrument, which is initialed throngh an electronic terminal, telephonic instrument, computer, or magnetic lapc: so as to order, instruct, or authorize n financial institution to debit or credit nn account. Such term includes, but is not limited to, point-or-sale translás, automated telJer machine transactions, transfers initiated by telephone, wire transkrs, and automated clearinghouse tmnsfers. (I\:) "Escrow Items" means those items that are described in Section 3. (L) "i\lisccllancous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third pal·ty (other than insmance proceeds paid under the coverages described in Section 5) for: (i) damuge to, or destruction 01; the Properly; Oi) condemnation or other laking of all or any part of the Property; (iii) cunveyance in lieu of condemnation; or(iv) misrepresentations 01: or omissions as to, the value and/or condition of the Property. (M) "I\lortgagc Insurance" means insurance protecting Lender against the nonpayment of, or del:wlt on, the Loan. ------~---_. WYOMING - Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page1of9 Forni 3051 1/01 Borrower(s) Initials c!.!::.lf /4...((' IDS,lnc ·(800) 554·1872 [:00361 (N) "1'cl"iodic Paymcnt" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) "RESPA" means the Real Estate Settlement Procedures Act (12 U.Sc. ~ 2ÓO I el.letj) and its implementing regulation, Regulation X (24 C.F.R. Part 350(J), as they might be am..:nded l'rom tim..: 10 time, lJ!' any ,1dditional or successor l..:gislationlJr regulation thaI governs the same subject mClttn. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that ¡lI''': imposed in regard to a "kderally related mortgage loan" even if the Loan does not qualif)' as a "fed..:rally related mortgage loan" under RESP/\. (1') "SUCCCSSlJl' in Intcrcst of Borrowcr" means any party that has taken title to the Property, whether or not t!wt party has assumed F\orrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RICìIJTS IN TIIE PROPERTY This Security Instrumcnt secures to Lender: (i) the repayment ofthe Loan, and all renew,ils, cxtensions and modifieatjons of the Note; and (ii) the performance of Borrower's covenants and agreements under this Sc::curity Illstrument and the Note. For this purpose, Borrower docs hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, thc j(JIIOIving described property located in the County of Lincoln: Lot 95 of thc Pratcl' Canyon Estatcs Unit 4, Lincoln County, \Vyoming, as desc'I'ihcd on thc Oflieial Plat thereof. P¡u'l'el IdentiJìcation Number: 35192510611300 which currently has the address of: 231 Piutc Drive Thayne, WYOMING 83127 ("Propcrty Address"): TOCJETHER WITH all the improvements now or hereafter erected on the pl'Operty, and all easements, appurtenances, and fixtures now 01" hel'eafrer a part of the property. All replacements and additions shall also be covered by this Security Instrumcnt. All of ¡he forcgoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hercby conveyed and has the right to 11l000tgage, grant and convey the Property ,md that the Properly is unencumbered, except fÓr encumlmml'Cs of record, Borrower warrants and will ckfend generally the title to the Property against all claims and demands, subject to any encumbrances of recorcL THIS SECURITY INSTRUMENT combines uni[(Jrl11 covenants for national use and non-unijÙrm covenants with limited vc,¡¡,iations by jurisdiction to constitute a uniform security instrument covering real property. lJN1FORM COVENANTS. Borrower and Lender covenant and agree as j()lIows: I. Payment of Principal, Interest, Escrow Items, Prepaymcnt Charges, and Late Chal'gcs. Borrower shall P~IY when clue the principal o( and interest on, the debt evidenced by the Note and any prepayment charges and late charges duc under the Note. Borrower shall also p¡lY funds for Escrow hems pursuant to Section 3. Payments due under thc' Note and this Security Instrument shall be madc in U.S. cUITeney. However, if any check 01' other instrument received by Lender as payment under the Note or this Security lnstrnment is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note: ami this Security Instrument be made in une or more orthe following [(¡rms, as selected by Lender: (a) cash; (b) mOllcy ordcr; (c) cerliIied check, bank check, treasurer's check or cashier's check, provided any such check is dmwn upon an institution whosè deposits are insurèd by a fedeml agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deèmed received by Lender when rcceived at ¡hc locatiun designated inlhe Note or at such other location as may be designated by Lender in accordance with the notice provisions in Sectioll 15. Lenckr may retu\'l1 any payment or partial paymènt if the payment or partial payments are insufJicient to bring the Loan current. Lender may accept any payment or partial paymcnt insufIìcient to bring the Loan current, without waiver of any rights hereunder 01' prejudice to its rights to reCuse such payment or partial payments in the fulme, bllt Lender is not obligated (0 apply such payments at the time such payments ¡H'e accepted. Ifeach Periodic Payment is applied as of its scheduled due clate, then Lencler need not pay interest on unapplied runds, Lender may hold such unapplied funds until Borrower makes p~lyment to bring the Loan CUITènt. lfBormwer does not do so within a rc,¡sonable period of time, Lemler shall either apply such funds or l'Cturn them to Uorj'(">wel' Ifnot applied earlicr, such funds will be applied to the outstanding principal balance under the Note immediatel) prior lO ¡iIrcelosure. No offsclor claim which Borrower might have now or in the futurc against Lendel' shall relieve Uorrower from making payments due under the Note and this Security Instrumcnt or performing the covenants ancl agl'ccments secured by this Sccurity Instrument. 2, Application of Payments 01' Proceeds, Except as otherwise described in this Section 2, all payments acœpted and applied by I "ender shall be appliecl in the following order o{priority: (a) interest clue under the Note; (b) principal clue uncleI' the Note; (c) amounts due umler 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 first to late charges, second to any other amounts clue under this Security Instrument, and then to reduce thè principal balance of the Note. I f Lender receives a payment tì'om Borrower for a delinquent Periodic Payment wh ich includes a su flìcient amount to pay any late charge due, the payment may be applied to the delinquent payment and the latc charge. [fmore than one Periodic Payment is outstanding, Lender may apply any payment reœived from Borrowcr to the repayment orthe Periodic Payments if', and to the e.\tent that, each payment can be paicl in full. To the extent that any excess exists aner (he payment is applied to the full paymcnt of one or mure Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments slwll be applied lirst to any prèpayment charges ancl then as described in the Note. .Any application of payments, insurance proœeds, or tv1 iscell¡meous Proceeds to principal clue under the Note shall not extend or postpone the clue clate, or ch,mge the amount, of the Periodic Payments. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 2 of 9 Form 3051 1/01 Borrower(s) Initials d ¿L ¿<1-~f~ IDS, Inc, - (BOO) 554-1872 1_"" ,!~"~ L'"'i~> J-;/ 'rJ> (' n () '; 6 2 \.' ,~.' \.... ....J 3. Fuuds for Escrow I (cms. Borrower shall puy to Lender onthc duy Periodic Payments ~lre due under the Note, until the Note is paid in full, u sum (ll¡l~ "Funds") to provide !Ór payment oj' amounts due t\1r: (a) taxes and assessments ami other ikms which can attain priurit) over this Security Instrument as a lien or encumbrance on thc Property; (b) leasehold payments or ground rents on the Propnty, if any; (c) premiums 1\11' any and all insurance required by Lender under Section 5; ami (d) l'vorlgage Insurance premiums, if any, 01' any sums payable by Borrower to Lender in lieu ofthe payment of tvlortgage Insurance premiums in accordance with the provisions of Section 10. These ikms are called "Escrow Items." At origination or at any time during the term or the Loan, Lender may I\:c¡uire that Community Association Dues, Fecs, and Assessments, if any, bc escrowed by Borrowcr, and such dues, fees and assessments shall be an Escrow Item. Borrowcr shall promptly furnish to Le:nder all notices of amounts to be paid un dcI' this Section. Borrower shull pay Lender the Funds !Ór [Sl'row Items unless Lender waives Borrower's obligation to pay the Funds tè¡r any or all Escrow Items. Lender may waive Burrower's obligation to puy to Lender Funds lor any or all Escrow Items at any time. Any such waiver may on]y be in writing. In the cvent of such wuiver. Horro\l'LT shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waivnl by Lender and, if Lender requires, shall furnish to Lender receipts el'idencing such payment within such time period as Lemler may rnluire. Borrower's obligation to make such payments and to providè rèceipts shall tèll' all purposes be deemed to be a covenant and dgrèement contained in this Security instrument, dS the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow 1tèms directly, pursuant to a waiver, and Borrower fails to pay the amount due lè¡r un Escrow Item, Lemkr may exercise its rights under Section 9 and pay such amount and Borrowèr shall then be obligated under Section 9 to repay to Lender any such amount. Lcndel' may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section IS and, upon such revocntion, Borrower shall pay to Lender al] Funds, and in such amounts, that arc then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sunicient to perrnit Lender to apply the Funds at the time speci lied under Rl~SPA, and (b) not to exceed the maximum amount a lemler can rcquire under RESPA. Lendcr shall estimate the amount of Funds due: on the basis of current data and reasonable estimates of expenditures of future Escrow hems or otherwise in accordance with Applic~lblc Law. The Funds shall be held in ~În institution whose deposits ~n'e insured by ~I J'edènil agency, instrumentality, 01' entity (including Le:nder, if Lender is an institution whose deposits are so insured) or in any Fede:ml Home LOdn Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESP;\' L.cnder shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow he111s, unless Lender pays Burrower interest on the Funds and Applicable Lall' permits Lender to make such a charge. Unless an agreement is made in writing or ¡\pplieable Law rcquire:s 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 BorreJ\\u, without charge, an annual accounting or the Funds as required by RESPA. ¡fthere is a surplus of Funds held in escrow, as de!ined under Rr:SPA, Lender shall account to Borrower fur the excess funds in accordance with RESPA. I rthere is a shortage of Funds held in escrow, as dejined under RESP A, Lender shall nOli!)' Bori'Owcr as required by RESPA, and Borrower shali pay to Lender the amount necèssary to make up the shortage in accorddnce with ¡~ ESP A, but in no more than 12 monthly payments. If thère is a deficiency of Funds held in escrow, as dclined under RESPA, Lender shril! notify Borrowèr as rcqui¡'cc! by R[SPA, and Borrower shall pay to Lemler the amount necessary to make up the deticiency in accol'dunce with rZESF'A, but in no mure: than 12 monthly payments. Upon payment in full oLdl sums secured by this Security Instnlment, Lcnder shn]1 promptly reCund tu Borrower any Funds held by Lcnder. 4. Ch:nges; Licns. Borrowcr shall pay all taxes, assessments, charges, tines, and impositions attributab]e to thc Property which can n([~lin priority over this Security Instrument, leasehold payments or ground rents on th\Ò Property, iLmy, nnd Community Association Dues, Fees, and Assessments, ifany. To th\Ò extent that thcse items are Escrow 1t\Òms, Borrower sh,dl pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Jnstl'ument unless Borrower: (a) agrees in writing to the payment or the obligation secured by thc lien in a manner acceptable to Lemler, but only so long as Borrower is pertÖrming such agreement; (b) contests the lien in good fnith by, or deCends against enl(Jrcement oflhe lien in, legal proceedings which ill Lel1l\e¡"s opinion operate to prevent the enlÖrcement olthe lien \"hile those proceedings are pending, but only until such procc:cdings lUT concluded; or (C) SlOCLlres from the holder or the lien an agrcement satisL¡ctory to LendlOr subordinnting thlO lien to this Security Instl'llment. If Lender ddellllincs that any part of the Property is subjèct to a lien which can attain priority over this Sccurity Instrument, Lender may give Borrowcr a notice identilYing the lien. Within] 0 days oCthe date on which that notice is givcn, Borrower shall satis!)' the lien m take one m more of the actions set I(Jrth above in this Scction 4. Lender may require Borrower to pay a one-time charge tè1r a real estate tax veritìcation nnd/or reporting service; used by L.cnder in connection with this Loan. 5. Propcrty Insnrancc, Borrower shall keep the improvements now existing or herealier erected on the Property insul'ed against loss by lire, hazards included within the term "extendcd coverage," and any other hazards including, but not limited to, earthquakes and !loods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and fe\!' the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the I .oan. '[,he insul'dnce carrier providing the insurancc shall be chosen by Borrower subject to Lendcr's right to disapprove Borrower's choic:e, which right shall not be èxercised unreasonably. Lender muy require Borrower to pay, in connection with this Loan, either: (a) a one-lime charge 1Ör !loud zonè determination, ccrtilication and tracking services; or (b) a one-time dwrge lè)r !lood zone detClmination and certiJication services and subsequent charges each time ¡'emappings or similar changes occur which rcasonably might airect such determination or certi1ication. Borrower shall also be responsible tè¡r the payment of any fees imposed by thc Fellc-I'dl Emcrgency !vLlil~lgement Agency in connèction with the review of any 1l00d zone determinution resulting from an objection by Borroll'el·. ---~,_.."._-~- Form 3051 1/01 Borrower(s) Initials di-L- ~ WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 3 of 9 IDS, Inc. - (BOO) 554-1872 ,C"'i'-)'-) -.: (oj !J rJ C00363 I r Hori'Ower rai Is to mainwin any oCthe coverages described above, Lender may obtai n insuranCè coverage, at Lendel" s nptinn and Borrower's expense. Lender is under nu ubligation to purchase any particular ty pe or amount or eovaage. There/{¡re, such coverage shall eOl'er Lender, but might or might not pnJtectl3orrower, Borrower's equity in the Property, or the contents ofthe Prorerty, against any risk, h,¡z~lrd or liability andlllight provide gl'eater or lesser coverage than was rreviously in crrect. Borrower acknowledges that the cost orthe insurauec coverage so obtdiiH.:d might signiJìcantly exccedthe cost of insurance that Borrnwer could have obtained. Any amounts disbursed hy Lender under this Section:) shnll become addition,iI debt of Borrower secured by this Secul'ity Instrument. These amounts shall bcar intcrest at the Note rate from the date of Jisburseml'ntand shall be payable, with such intercst, upon notice I¡'om Lender to BOI'rower requesting payment. All insurance policies required by Lendcr and renewals or such policies shall be subject to Lender's right to disappnwe such policies, shall include a standard mOl'lgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the ¡'ightto hold the policies and renewal ccrtitìcates.lrLender requires, Borrower shall promptly give to Lender all receipts or paid premi ums zlI1d renewal notices. ¡ f Borrower obtains any I{¡rm of insurance coverage, not otherwise l'Cllllired by Lender, ror damage to, or destruction of, the Propel'ly, such policy shall include a standard mortg,¡ge clause and shall name Lcnder as mOl'lgagee and/or as an ddditionalloss payee. In thc event or loss, BorJ'[)wer shall give prompt notice tu thc insurance carrier and Lender. Lender may make pi'Oofofloss ifnot made promptly by Borrowc'J'. Unless Lender and Borrower otherllise ag¡'ee in writing, any insurance proceeds, whclher or nut the ul1llerlying insumnce was required by Ll'llder, shall be applied tu restorzltion or repair of the Property, ir the restoration or repair is ecnnomically feasible and I.ender's security is not lessened. During such repair and restornlion period, Lender sl¡,1I1 have the right to hold such insurance proceeds until Lender has IHld an opportunity to inspect such Property to ensure the work has heen completed to Lender's sZltisLiction, pl'Ovided that such inspection shall be undertaken pl'Omptly. Lemkr may disburse proceeds !{¡r the repairs ane! resturation in a single payment or in a series of ¡X ogress payments as the work is cornpletcd. Unless an agreement is made in writing or Applicable Law requires intere;stto be pCtid on such insurance proceeds, Lender shall nut be required to pay Borrower any interest 01' e;arnings Oil such pruceeds. Fees ()I' public adjustCl's, or other third parties, retained by Borrower shall not be paid out of the insurance pl'Occeds and shall be the sole obligation of Borrower. If the; restoration or repair is not econumieally feasible or Lender's security would be lessened, the insurance pmceeds shall be 'Ipplied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower. Such insurance proceeds shall be applied in the mder pruvided fOI' in Section 2. Jr BOlTower abandons the Property, Lender may tile, negotiate and settle any available insurCInee claim am! related matters. Ir BOITowel' does notl'espond \I ithin 30 days to a notice from Lender that the inslll'anee carrier has offered to settle a claim, then Lender may 11egotiate and settle the claim. The 30-day period will begin when the; notice is given. In either event, or ir Lender acquires the Pruperty under Section 22 or otherwise, Borrower hel'eby assigns tu Lender (a) Borrower's rights to any insurance proceeds in an amount not to cxceedthe amounts unpaid uncleI' thc Note or this Seclll'ity Instrument, and (b) any other of Borrowel" s rights (other than the right to any reliJnd ufunearned premiums paid by Borrower) under all insurance policies covering the Property, insoLtr as such rights are applicable to thc coverage of the Property. Lemler may use the insuJ'itnce proceeds cither to repair or restore thc Propcrty or to pay amounts unp,tid under the Nule or this Security Instrument, whether ur not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days aftel,the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence (Jr at least one year alter the datc oroccupancy, unless Lender otherwise ,¡grees in writing, which consellt shall not be ulII'easonably withheld, or unless extenuating cilcumstances cxist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection ofthc Propcrty; Inspcctions. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Properly. Whether or not Borrower is residing in the Property, Uornm'er shall maintain the Properly in ordel to prevem the J'ruperty 1Ì'um deteriulating or dcereasing in value due to its conditi'HL Unless it is determined pursuant to Section:) that repair or restoration is not CCoI1LJIlìically feasible, BorruII'cr shall prumptly repair the Property il damaged tu avuid fUrlher deterioration or damage. If insurance or condemnation procceds are paid in connection with damage to, or the taking oC the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released procceds jClr such purposes. Lender may disburse proceeds for the repairs ami restoration in a singlc payment or in a series or progress payments as the work is completed. If the insurance or condemnation proceeds are; not sul1ìcient to repair or restore the Propcrty, Borrower is not rclieved of Borrower's obligation JÖr the completion of such repair or restoration. Lendcr or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lemkr may inspect the interior or the improvements on the Property. Lender shall give BUITolI'er notice at the time of or prior to such an il1terior inspection speeil)'ing such reasonable cause. S. Borrower's Loan A pplic:!tion. Borrower shall be in deL¡ult i( during the Loan application process, Borrower or an)' persons or entities acting at the direction of Borrov/er or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate intc)J'Jnation or Slê1tements to Lender (01' failed to provide Lender with material inl(">rmation) in connection with the Loan. Ivlaterial represenultions include, but are not lirnited to, representations concerning Borrower's occupancy of the Propel'ty as Borrower's principc¡ residence. 9. Protection ofLcnder's Interest in thc Propcrty and Rights Under this SecuJ'Íty Instnllllcnt, I1'(a) 13orroll'er Liils to pcrl()J'Jl1 the eovenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might signiJìcantly arrect Lender's interest in the Property andlor rights under this Security Instrumcnt (such as a proceeding in bankruptcy, probate, c)r condemnation or !(lrreiture, I()r ent()'Cement of a lien which nwy atUtin priority over this Security Jnstrument or to enfÖrce laws or rcgulations), or (c) ßmroll'er has abandoned the Property, then Lcnder may do and pay ()r whatever is reasonable or appropriate to protect Lendcr's interest ill tile Propel'ty and rights under this Security Instrument, including protecting and/or assessing the value of the Properly, and securing ami/or ¡'epairing the Property. Lender's actions can include, but arc not limited to: (a) paying any sums secul'ed by ¡¡ lien II'I¡ich has Pl'iority WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 4 of 9 IDS.lnc - (BOO) 554-1872 Form 3051 1/01 Borrower(s) Initials ~_ j~.¡).~ ,'ì 0 ,., G L1' '. (' O\cr this Scellli[) Instrumcn[; (b) npl'taring ill court; nnd (e) pdyillg Il~~IS()Jl~lhle ~lll"l'IlêYs' fccs to protcct its interest ill thl: Pl'nperty nml/ol lights limier this SeL'llrity Insrlunlcnt, inchlding its seclIltJ jJositiun in d IJilld;luptcy prmn:ding Sec:urillg the 1'llJperty inL:luJes, but is nm lilnilLd to, enlellllg Ihe !)!'l">pn[y 10 m~¡\;e rcpllil's, cll~lnge locks, rCI'I:IL'c llr huard up duors nmll'.'incluws, dr~lin wnln fllJlIljlipes, l'lilllinllk IJllllding ur othcr ende "iulations or dangcTulIs cundi[inns, illld have lIli]ilie,¡ tnmed on or ,>if AltllOll~,'¡1 I.,enckr lIla) ti¡\;e ilclion under this Seclion l), I,ender does nutlwl'c tu Llo so ~Ind is IIU[ ulldu ~111)' dlll) or ollliga[IUlllO do St). It io agrcL'd [h~lt LeJICkr incul's nolinhility !ì.1r 11O[ Liking ~Iny or idl ,lcliollS nUlhorized uncleI' this Sc:c:lioll lJ. AllY ;IIIIlJlllltS disbursed II)' Lender undtl' this Scction C) ';h~ill hC:L'llllk addi[i(Jillil dl~b[ of [JurI\Jwcr securcd h)' [his Sec'urit) IIIS[llllllent. Thcse ,Imounts slwll bcllr interest at the Nok rll[c fro III the dllk ufdisllurstlnent alld sh~ill bl' jI"yable, with sllch inkiest, ulllln nU[lce 110111 LClldel' [0 jJolTower rcquesting pa)'men[. II' [Iii,; ScTuri[y Instrllment is on iI 1e;lsehold, UOITower sl1<111 eomply wilh Iii I the pllJvisjons or thc lense, ßOI'ro\l'cr skdl nOI slllTènderthe k:lsehold eS[llte and interests hnc:in comeyed or tdmill:lte or clillctllhc ground kIISt.l3uITuII'tr sh,lIlnot, witllllU[ Ihe: exprcss IITitlen ClJIIS L' 11 [ ofLcnder, :1I!tlur nmend the gl'cIUlllllellse IrnUrnJlln Ilcquires ke ti[1e tu ¡he !'nJlkr[y, thc leasehold [Ind tile i'c-e [I[k ,h,ill not rnnge unkss Lendel' ;Igrees l<> tile merger in wriring, JO. I\lortgage IlIsurnllCC. If L.emkr rcquil'ed f\lungagc IIISllrdll,'C II elJndi[iun or m~lking tile 1.0:111, HlJiru\I'e!' sh:dl 1ny [he 1I'clniums lequirnllu 1I111illtnin the f\!Oltgdgc InSIlr:lllec il1 clCed. II, rur lUll I'eilsun, the tvlmtg:lge: Illsmilllce cuverdge leqllirc'd l)y LClldcl cedSc':; IlJ be '11·;¡iLlbk rrorll the mOI[gnge insurer thdt pl'l'I'iously provided such i'lSul,lllCe ,lIId UlJlTOller \\',IS rcquired [lJ 11111kL: sc1:lr~lkl)' cleslgllllled P~IYlllc'11IS tuwi'lrd thc prcllliums jÙr Murtg,lgc: Illsur:uIL'c, ¡jUIToII'el' sh,lI! PdY lhe premiulII.s l'c:'[llircd tu t>l'ICiin U'lcl,lge sllhst:lIllllllly equil'dlenl [t> the f\'!Orlg:lgt IIISIIr,lllcc: previuusty in efle'CI, ;il n eus[ SUllst[ulli~lIly eqllivnknt [t> the cust tt> l3ullel\\'CI u[ [hc !\lol'lgnge Jnsur~lnee pl'cl'iously in erred, l'rum an :lItelll~lle IlllJrtgage insllrer seleckd hy L,e:mkr ¡ l' suhst:ulli~lIly equiv:ileJll f\ I(JI[,'dge ]lIsur,lIlce et>vunge' is nut ill'aiLlbk. ßtlJTu\\'er shall c:olltinue to p:IY lu Lenclertlle llllìUUl1l urlhe sc:!ur:ltely cksigll:lted P~IYllltnls ¡hdt \l'nc due' \l'henlhe imur:lI1ée: eOI'er~lgt censccllu be in erred. Lendel' \l'ill deeept, use ;llld rd~lill these: pll)lllc'IIlS ;IS d 11I111-rerund,lhle luss rese!'le ill IILU or Murlg:lgt Imm<llleè, Suc:h loss reservt sh:lll bc nOIHclumLII)Ie, IWLII'iths[:llìllillg [he Llc[ th<ltthc LO~lll is ullinllllely p:lid ill ['ull, ilnd Lell(kr sh;lllnut be rcquired 10 P:lY 130ITOIVtl' :1ny inkrest ur e<llllillgs UII such luss reserl','. Lendet' ClInlW longer reC¡lIil'e loss ICStll'e p~I)lIIents ir!\lortgllgc InSlil'dnCe cOl'erilge (in [he elllWlIlll llI1d ¡tll tire period Ih~lt L.ellder requirts) pruvieled by elll insurer stlected I)) LUIcIeI beLOnlts Ill'ilililble, is obtained, illld Ltllder IÜlllil'es sepllLltel) ,ksign~ltcd pilYlllellls [owilrd the l'llcmiullls [tJr !\Illrtgllge Illsur'lllce:. IC Lender I'e:quired !\lelrtgilgc lllsurance ;IS a conditiulI orm~d;ing [hc Lo:m ~111l1l\url'O\I'er W;IS re'iuil'ed ttl nl:l[,:e sepdrllltly dcsigll~llnll)CiYlllenls [u\I'drd the: premiums /(.1\' f\.Iol'lg'lge Insurance, 8urrolvèl' sh~¡[1 pel) the prtlllillms lüluilL'd lu rllainlain !\Jor[g~lgc 111SllrIIl1L'c' ill elkl'l, or to prell'ide II nOIHc:1ulld'lble luss resc:t'l'e, lIntil Lender's I'eqllirtmellt fÒr !\I(Jltgage Insurlmct C:lllls ill Ilcconlilnce wi[h any IITilten agrccment bctwt't'n BOlluwc'J' and Lendn providing JÙr Sllth krminatioll or ulllil klmil1<llion is lùjllircd I,) ù,pplicelble 1.,111'. Nothing inth\., Sëc:tiun 10 :tlleC[s Llut',()\I'er's oblig~j[ioJ\ lu 1)11)' ililertsl illlhe: ratc pruI'idcd intht NUle. f\,lul'lg,lgc Insurancc ITimbllrscs LCllckr (ut' elllY cntit) tl¡;ll!llll'Ch~'ise:s tile ~~()¡t) 1,,1' C"'l'tilinlclssö itllld" illCUl' ¡rlh,ITU\lel dm':: 1101 rl:pa) tire LOiln ,IS ngl'teel. BOITUWtr is not eI part) [l) tht !\1m[g:lge 1IlSIIr"I!c.·e. !\'Iurtgdgt insurers el',ilUllte: their lotal risl; UII ,tll sueh inSUr;\JIl:e ill !Òr,:e: from timc to lime. elllLlmHY en[n into Ilgrcclncnts Wilh other pelrlies thell Slldl'C or modiJ)' their I'isl;, or rcduce lusses, Thcse ~Igrcêlllellls are un terms elnd LUlldi[iollS tkll dl'e slllisLlctury lu tlrc nll)rlg~lge illSllrer III lei ¡he uthcr pelr[) (UI' partics) lu thest elgr,·c'lnClllS. 'T'hc:se ~Igl''''elnellts Ill:IY lüluirc: Ihe m\lItg~lge ¡IISmLl' (0 mllke p:I)'llIents lIsing :IIIY soul'ce uf ClInds tlr:llthe 1II1Irlgage insurcr ilia) kll'e [ll'aibhle (whi,h lII"y illl'hlLk ¡'unds t,[Jtdim:d fronl f\,lurtgilgt Insur~lnce: 11IC:111Il1IllS) AS:I resltl[ Ofl[¡ese ;lgreemtnts, Lendn, [111.\ of [lie Nllle, :Inutlle:r insurer, Ilny reinsurn, ,lilY olllc:r entity, or ~In) :¡[Illi~lk "rdll) oflhe IÒn;gllillg, nlil)' reecil'e (diree:!I)' Ol' indirecily) illIlUlInlS l[¡ill dnil'e l'¡OII] (or !\Iight be: ch~II~lclLrized II purtlOll (JIU"rl'lJI\er'S 1>:IYlnell[s 1(11' !\'lurlg,lgc~ Illsurance, in eXe:Ii,lllge [(n slillJ'illg or llìl>diJ)lng [he IIlor[gugc in,slIrer's I'isk, nlrecJllcil1g losscs, IfslIc'li Clgleelílc:n[ l'le'vicks ¡IHlt :111 :ilT'¡lillC ni' Lender [ukes a sh:lrc ur the' il\SlIrl'l"S risk in c\L:lillllgL' ['()r u sl1:lre: '1[' rhl' prc'lltiUIílS p~liclt() [lie illsmer, tile: :lIIitllgelllcllt is uftell kilned "cIIPliv't: IcjnsIlIClnct." Fmtlier: (¡I) Any such agreelllents will not :t!ltLl the alnuun(s that Borrower has agreed to pay for t\lorigage Insurance, or any other terlns of the Loan. Sueh agreelllellts will nul incnase the ¡[lIlount BIJlTOwer will owe for I\lurtgage Insurance, ¡Ind the)' will not l'nlille Burruwt!' to any rdulld (lJ) Any snch agreenlents lI'illnot affect tIle ¡'ights Borro\\'el' has - ifan)' - with respc'd III the I\lurtgage Insnrance under the IlullleowneJ'S I'n¡[l'l'¡iulI Act uf I')')!) ur all)' IIIher law. These rights lIlay include tht I'¡ght to 'eceil'c certain diselusurcs, tu request and ohtain canceJlation of the I\lurtgage Insurance. Tu hal't the i\llIrtg¡lge Insnrance tcrlllinaled antolllatically, and/or to rn'tilT a rdulld uf an)' I\lortgage Insur:lnec prellliullls that werc unearllcd at the tillle of snl'h CiiJIl'eJlation or lL'rloinalion. II. As,ignnlcnt ufi\lisl'cllaneons Procecds; Forfeiture. ,,"II l\'IiscclLlIlC'OllS 'Jroccccls UI'", lit'lclJ) lIssigned [lI ¡llld skill Ix puid to Il:llder I r[lw J'nlpaty is dlllílUgl'd, sllcli 1\·lisccllllncous J'locetds skill he ~lppliL'Clto I'es[orlltioll cn IL')"il ul'tlie Propcrty, jj'[he I'estor;¡[ioll (II' Il:p:liIIS eUJi1olllic:ill) re:lsihle [Ind 'ellder's StCmil) is IlOt lessenc:d. During sllch Itp:lir Ilnd rL'stc¡r¡¡li(JIl pniod,. Lcnder sh~¡IIi:I\'C: the rlgli[ [0 huld such !\,!isœll[lIlellUS I'l'lIcl'cds IInlil Lender 11lIs ]wd itn lIppl">I1UniL)' tn ill';pe:ct sllcli PI'tJpell) to tnSlll'e II Ie Ilork lidS bctll ClIlllrJicted II> Lemkr's SiltisLlcliun, Plul'ided lhllt such iIlSpl'c'lioll ,;kill be IIlldcrl;lI;en promp[ly, Lendel IIldY PdY feir lht' l'epllirs ulld restur¡¡li'JlI ill ¡¡ single disbursc'lílelll UJ' ill:1 serics lIrploglt'ss pa)mel1ls :IS [he \l'urk is UJnlpltkd. LlIIIeSS an ,lgl'eement is 1IIIILk il1\1'ritillg 01' Allplic,IIJIc 1.:111' lùluil'e'S inkres[ to be p:lie! 011 sllch f\]isL'ê]I~llleous 1)I'OC:l'c'e!S, Lcmkr sl1:i11 not be lúluiJ'ul [0 PU) UlIITOII'er 'lilY inlclcst (JI' L·itlllillgS Ull sucli f\,liscelluneolls Proceeds, ]['(IIC res[uration OJ' lep~lil' is nn( ecolle)l\Iic:~tll)' kit.';ihk 01 LCllder's sccul'it) lI'ould be: ICSStlle:d, IIIC ¡\IIS('c:ILllleOlI:, 1'llILeeds shlill be: ~Ipplitd to the Silins secllled Ihis Sccllrit)' Illstrllnltlll, \lhethe'1 01' nllt Ihl'] clul', lI'ilh the: excess. if :iny, p,lidlu HlIIJ'lJ\I't'I Suelt !\liscelhllleOuS I'rocads shill! l,t Ilppl Iii lilt urda pruvidnl Cur in Scui(>!1 2. In tltc C\'L'!¡[ ur~llul:dlilk des[I'IICliun, or Illss ill \'Iduc O([lll' PI'uperly, [ht !\Ii,;ctll~lllelJus IJrllcc:cds slwll bc ~IJl!¡[icd to llie slims sculrt'd by this Scemi[)' Instl'uJnell[, II'llèlher or nOl [hCll due, with tltt e"cess, i!'un)', paid tll BorJ'l)lltl'. -"---,_._-_._----~._-_.~------,_._---_..~--_.._~~-~---- WYOMING SllIgle I"alllliy - Fallille Mae/Freddie MJC UN[FORM [NSTRUMENT PJg8 5 of 9 Form 305'\ 1/01 Borrower(s) Inilials {,J (.. £'__ ,::'.4át'. I[)~; (bOU) :'54-1672 (-, /Ì 0 0 6 5 '..11. V In the e\'ent of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately bdÖre the partial taking, destruction, or loss in value is equal to or gre~¡ter than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or luss in value, unless Borrower and Lender otherwise agree in writing, the slims secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fr,¡ction: (a) the total amount of the slnns secured immediately before the p,¡rtialtaking, destruction, or loss in value dividcd by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value, Any balance shall be paid to Borrower, In the cvent 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 the amount of the Slllns secun.:d immediately before the partial taking, destruction, nr loss in value, unless Borrowel' and Lcnder otherwise agl'ee in wl'iting, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. I rthe Property is abandoned by Borrower, or if, alier notice by Lender to Borrower that the Opposing Party (as detìned in the next sentencc) offers to make an award to settle a claim for damages, Borrower JllÍls to respond to Lender within 30 days alier the date the notice is given, Lender is authorized to collect and apply the !vIisccllaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneolls Proceeds or the party against whom Borrower has a right of action in regard to MiscelLlIleous Proceeds, Borrower shall be in defÜult if any action or proceeding, whether ci vii or criminal, is bcgun that, in Lender's judgment, could result in forfeiture of the Propert)' or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure sueh a default and, ifacceleratilln has OCCUITc'd, reinstate as provided in Section J 9, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forl'eiture of the Property or other material impairment of Lender's interest inlhe Property or rights under this Security Instrum\ént. The proceeds of any award ur claimlÓr damagcs that Zlre attributable 10 the impairment of Lender's interest in the Property are hercby assigned and shall be paid to Lemler. All !v!iscellaneous Proceeds that ar\é not applied to restoration or repair of the Property shall be applied in the order provided lix in St.:ction 2. 12, Borrower Not Released; Forbearance By Lender Not a \\'aiver. Extension of the time lor payment or modi1ìcation of amurtization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor inlnterest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be I'equired to commence prl)ceedings against any Successor in Interest of Borrower or to reCuse to extend time for payment or otherwise modify amortization of the sums s\écured by this Security Instrument by reason of any demand made by the origin,¡J BOI1'O\\'er or any Successors in Interest of [\orrOlvel'. Any 1lJrbearance by L\énder in exercising any right or remedy including, without limitation, Lenckr's acceptance of paymt.:nts from third persons, \él1lities 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 bejoint and several. Howevcr, any Borrulver \\'ho co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Pl'Operty under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; amI (c) agrees that Lender and any other Borrower can agree to extend, modilY, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without thc co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations undel,this Security Instrument in writing, ancl is approved by Lender, shall obtain all of Borrower's rights and beneClts under this Security Instrument. Borrower shall not be released Jì'om Borrower's obligations and liability under this Security Instrument unless Lender agrees to such rekase in writing. The covenants and agreements of this Security Instrument shall bind (except as pl'Ovided in Section 20) ami bene lit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's del~lult, I~)r the purpose of protecting Lender's interest in the Properly and rights under this Security Instrument, including, but not limited to, attoll1eys' f<.:es, properly inspection and valualion fees. In regard to any othn fe<.:s, the absence of express authority in this Security Ins(rUJJ1CntlO charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees thClt are expressly prohibited by this Security InSlrument or by Applicable Law. J fthe Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interesl or other loan clwrges collected or to be collected in connection with thc LOCln exc<.:ed the permitted limits, then: (~l) any such loan charge shall be I'educed by the amount necessary to reduce the charge to the permitted limit; ami (b) any sums already collected from Borrower which exceeded permitted limits will be relì.mded 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 (I"hether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment lO 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 (his Security Instrument must be in wriling. Any notice 10 Borrower in connection with this Security Instrumenl shall be decmed to ha\'e been given to Borrower when mailed by lirst class mail L)r when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice lo 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 Lencler. Borrower shall promptly notifY Lender of Borrower's change of address. If LendCl' speciJìes a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specilied procedure. There may be only one designated notice address under this Security] nstrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by lìrsl class mail to Lender's address stated herein unless Lender has designated another WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 6 of 9 Form 3051 1/01 Borrower(s) Initials ) C Y _ ~ IDS. Inc - (800) 554-1672 '-"'7" ",,-¡,- ',- "I ,",':' . u' i .: r- n r) ,"- 6 ri :\.' '.) \... \.J 0 dddress by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have bccn given to Lender until actually received hy Lender. Ifany notice required by this Security Instrulllent is also I'equired under Applicable Law, the Applicable I"aw requirement will s~ltist)' the corresponding requirement under this Security Instrument. 16, Covef'IJing Law; Sevenlbilit)'; Rnles of Constrnction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is locdted, AI1 rights and obligdtions contained in this Security Instrument are subject to any requirements and limitations of l\pplieable Law. Applicable Law might eXplicitly or implicitly dllow the parties to agree by contract 01' it might be silent, hut such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or cbuse of this Security Instrument or the Note conflicts with Applicable Law, such connict shall not affect other provisions of this Security Instrument or ¡he Note which can be given effect without the conl1icting provision. As used in this Security lnstrument: (a) words of the masculine gender shall mean and include corresponding neuter words or wl.)¡'(is of the jeminine gender; (b) words in the singubr shall medn and include the plural and vice versa; and (c) the word "may" gil'es sole discrction without any obligation to take any action. 17. Borrower's Copy. BOITower shall be given one copy of the Note and of this Security lnstrument. HI. Tl'ô1l1sfer ofthe PI'opert)' or a Beneficial rntcl'est in Borrower. As used in this Section 18, "Interest in ¡he Property" means dny legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond fÖr deed, contract fur deed, installmcnt sales contract or escrow agreement, the intcnt uf which is the transfcr or title by Borrower at a future date to a pUI"chaser. I f all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrowcr is not a natural person and a beI1elìei~¡ inlel'Cst in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all SUIllS sccured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by i\pplicabk Law. ¡ fLender exercises this option, Lender shall give 8orro\Vel' notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower lIlust pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender m:1Y invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19, Borrower's Right to Reinstate After Aeeelcl'ôltion. IfJJorrower meets certain cunditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days bclÙre sale of the Property pursuant to :Iny power of sale contained in this Security Instrument; (b) such other period as Applicabk Law might speciJ)' IÒr the termilllltion of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that 13orrower: (a) pays Lemler all sums Ivhich then would be due undn this Security Instrument and the Note as ifno acceleration had occurred; (b) cures any default of any uther covenants or agreements; (c) pays all expenses incurred in enfÖreing this Security Instrument, including, but not limited to, reasonablc attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender ma) reasunably require to assure that Lender's interest in the Property and rights under this Security Instl'llment, and Borrower's obligation to pay the sums secured by this Secul"ity lnstnlment, sh:ill continue unchanged. Lender may require that BOITowel' pay such reinstatement sums and expenses in one or more oftht.: JÒllowing t(¡rms, as selected by Lender: (a) cash; (b) money order; (t.:) certiJìed check, bank check, treasurer's check 01' cashier's chet.:k, provided any such check is drawn upon an institution IIhose deposits are insured by a kderal agency, instrumentality 01' el\lity; or (d) EkctrlJllic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no accelemtion Iwd occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Notc; Changc of Loan ServiceI'; Notice of G rie"ance. The Note or a partial inlerest 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 the entity (known as the "Lodn Servicer") that collects Periodic Payments due under the Note and this Security Instrument and pertl\I'J1lS other mortgage loan st.:rvit.:ing obligations under the Note, this Security Instrument, and Applicable Law, There also might be one or more changes of the Loan Snvicer unrelated to a sale of the Note. Inhere is a change of the Loml ServiceI', Burrower will be given written notice of the change which will state the name and address of the new Loan ServiceI', the address to which payments should be made and any other intÒrmation RESPA requires in connection with a notice of trans tel' of servicing. If the Note is sold and thereal1er the Loan is serviced by a Loan ServiceI' other than the purchasel' of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicel' or be transfened to a succt.:ssor Loan ServiceI' and are not assumed by the Note purchaser unless othenvise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises I¡'om the other party's actions pursuant to this Security Instrument or that alleges that the other p~lrty has breached any provision of, or any duty owed by reason o( this Security Instrument, until such Borrower or Lender has noti1ìed the other party (with such notice given in compliance with the requirements o I' Section 15) of such alleged breach and allÖrded the other party hereto a reasonable period aner the giving of such notice to take corrective action. It'Applicable Law provides a time period which must elapse he fore certain action can be taken, that time period will be deemed to be reasonable j(¡r purposes of this paragraph, The notice of acceleration and opportunity to cure given to BOITower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satist) the nutice and opportunity to take corrective action provisions of this Sectiun 20. 21. Hazanlons Substances, As used in this Section 2 I: (a) "lIazardous Substances" al"e those substances dclìned as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other Jlammdble or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or ¡,)'maldehycle, ami radiuactive 111:lterials; (b) "Env ironmental Law" means federal laws and laws of the j uriscliction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes dny response action, remedial action, or removal action, as cleJìned in WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 7 of 9 Form 3051 1/01 IDS,lne ,(500) 554,1872 Borrower(s) Initials -4 ¿r Ah~R l ,'. (\ 0 " 6 ~7 '. ',) .j Fnvironmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribllle to, or othenvise trigger an Envirunmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or thl'eaten tu I'elease any llazardous Substances, on or in the Properly. BOl'rower shall not do, nor allow anyone else to do, anything atTecting the Properly (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (e) which, due to thc pn:sence, usc, 01' I"clcase ora Hazardous Substance, cl'eates a condition that advel'sely affects the value of the PropeJiy. The preceding two sentences sh,tllnot apply to the presence, use, or storage on the Propel"ty of small quantities of Hazardous Substances thm are generally recognized to be appropriate tu normal residential uses and to maintenance of the Properly (including, but not limited to, hazardous substanees in consumer products), Borrower shall prumptly give Lendel' written notice of (a) any investigation, elaim, demand, lawsuil or other aclion by WI) governmental 01' regulalory agency or pl'ivate pal'ly involving the Property and lit]y J lazardous Substance 01' Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat oJ'rd..:ase of any Hazardous Substance, and (c) any condition caused by the presence, use 01' release ofa Hazardous Substance which <¡dversely affects lhe val ue uf lhe Property. I r Borrowel' learns, or is noli lied by any governmental or regulatory authori ty, 01' any pri vale parly, that any n;JItuval or uther I'emedimion of any H azal'dous Su bstance affecti ng the Property is necessary, Borrower shal I prlimptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender It)r an Environmental Cleanup, NON-UNlFORM COVENANTS. Borrower and Lender further cuvenant and agree as folluws: 22. Al'l:c1eration; Rcmedies, Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement iu this Security Instrument (but not prior to aceelerationunder Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than30 days fnJm the date the notice is given to BOlTower, by which the default must be cured; and (d) that failure to cure the default on 01' befol'e the date specilied in the notice may result in acceleration oUhe SlIms secured by this Security Instrument and sale of the Property. The uotice shall ful'lhel' inform BOlTower of the right to I'eins/ate after acceleratiou aud the right to bring a court actiou to assert the uou-existence ofa default or any other defense of BOlTower to accelen1iion and sale. If the default is not cured on or before the date specilied in the notke, Lendel' at its option may re(luil'e immediate payment in full of all sums secured by this Security Instrument "ithout further demaud aud may iuvoke the )(]wel' ofsalc and any other remedies permitted by Applicable Law. Lendel' shall be entitlcd to collect all expenses inculTed in pursuing the I'emedies pl'ol'ided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of Ii tie evidencc. If Lender invokes the power of sale, Lender shall give notice of inteut to foreclose to Borrower and to the pel'Sou in possession of the Property, if different, in accordance with A pplicable Law, Lender shall give notice of the sale to BOlTower in the n1<lI1nel' provided in Section 15. Lendel' shall publish the notice ofsak, and the Propel'ly shall be sold in the mannel' presCl'ibed by Applkabte Law. Lender or its designee may purchase the Propel'ly at any sale. The pl'Oceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attolïleys' fees; (b) to all StilUS secul'ed by this Secu1'Îty Instrument; and (c) any excess to the pel'Son or pel'Sons legally entitled to it. 23. Release. Upon payment of all sums seeurcd by this Security Instrument, Lender shall release this Seemity Instrument. Uorrower shall pay any recordatiun costs. Lendtr may charge Borrower a fee lor releasing this Security Instl'ument, but only irthe fee is paid to a third party for scrvices rendered and the ehal'ging of the fee is permitted under Applicable: Law. 24. \Vaivers. Borrower releases and waives ail I'ights under and by v irlLle of the homestead exemption laws of Wyoming. WYOMING - Single Family - Fannie Mae/Froddie Mac UNIFORM INSTRUMENT Page 8 of 9 Form 3051 1/01 IDS, Ine" (800) 554,1872 Borrower(s) Initials I L Y )}.j2- /! ¡--~~'¡i'-·'')V'J.) . -'-.~ 1J t¥ " ('C0368 BY SIGN JNG BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: sß,1/ /;:)¿f/f.("[ (~_ 7) ~~d þ-'-"'~---- :> James C. Phillips (Seal) -Borrower _.~---~~~. ---'--,_._---~-_._-- _._./4~i, P~L¿¿ ,LY~ Amy J. Philllti's I (Seal) -Borruwcr STATE OF WYOMING, / L ( }.) COL^-./ County ss: The foregoing instrument was acknowledged before me this ;) r~'r da)' of Jamcs C. Phillips, and Amy J. Phillips. Witness my hand and ollicial seal. IVI)' COlllmission Expires: O ' 6:C-Gz-.·,:...v\/~,.t-- , 2. [.X:),s/ by -:,-;-" "','''-'/'''- i,./ ,'~ ·-·."F'_'·' :..-..::.. t,¿;;~:>,I,L J~: . L G ~ -L..., Notary Public (~~ ------ (Se:tl) ~ .) .ì ·V;J~..."J ~ , _.>' ,... _ " I D (C:?'2-¿.:r;ß ,(I . _\_,I~ --' I ~ ./,~ ..,,) ...,.-....~........_ ......·_v ._'-'-.."..... y......:..-.............,. . ;1-" ~ ;"~' .. ...:: ¡.'.... ::·:,~;CJ ~,f ~:.~~. ~'[; ..-' j , , i - ~\ . WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 9 of 9 Form 3051 1/01 IDS, II1C, , (800) 554,1872