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HomeMy WebLinkAbout915063 ¡ ~ ¡' "-'~' .( 1..) v ·,~:I~cr..~I:r.C':!.I·¡:!:. i:!::..I::..J.;:':': . ...'....¡,;..z.,:...' '':~.,. ,~'.-. .......:.,,-'.._ ..,"_~'~'~-~.' ..,.,....'.&"1/4,._.......... I ·-.~''':'-a:&I.>õ.:AG' . ~·ot-;..:u~_I..':;¡~I.. ::.ot"", -:',- ,',.. .,..,...." ,.......,.. ··'·'$5'·"'·· 000250 ~ Ret\ll1l To: HOMECOMINGS FINANCIAL NBTWOIUC, mc ONB MIiRIDIAN CltOSSlNO, 5111100 tdQiNBAPOUS, Mti 55423 loan Numb.r: 042·668241-0 PreJ>~rqd,By: ~o~eComi~9' 'in~qcial Network 14850 Quorum Drive, Suite 500 Dallas, TX 75254 (.~. Above TlilsUae For It.ecordiq Data) MORTGAGE MIN 100062604266824806 RECEIVED 1/9/2006 at 2:42 PM RECEIVING" 915063 BOOK: 60t PAGE: 250 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY DEFINITIONS Words used in J,Uultiple sections of this docU{l1e1úare defined below and other words are defined in Sections 3, U. 13.18. 20 ~ 21. Certain rules regarding the usage of words used in tbis docwl1ent are also provided in Section 16. (A) "Se4:urity IDskument'· means this docwnent, which is dated JANUARY 4TH, 2006 t9gether with all Riders to this docwnent. (8) "Borrower" is IRWIN RICHARDSON ~D CINDY RICHARDSON, HUSBAND AND WIFE Borrower is the JttOrtgagor W1der this Security Instrument. (C) "MERS" is Mortgage ElectrOlúc Registration Systems, Inc. M~RS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existÌJ1g under the Jaws of Delaware, and has an addres~and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. wr~~IN~-Si~. Faoúlv-Fannll Mal/Frlddll Mac UNIFORM IN,STRUMENT WITH MERSForm 3051 1/01 MFWY7770 (11/00) / 04~.668248-O ... -IAIWYI 100051.01 ~ - ::oo,_,,_.=-!.( IIIIIIII~UII~I~ I~III ~~~~I :1.:.fw·.Ii'M.:I:t.~:,· '·h·I'~~4!"'.Io~ó .·. . :' ''-~':'-~'':~''.' "',· "i"~j~,j~""'~¡P-.=r-d.i~~·~.i~~~"'~:':""_'_;~·':""""'''..u:..;<.·,:,:~~~ ·~·,'~~,..·,...'.~YoL.!'..!,¡~r,(· ~.~:'~'.':"-',", :,:::..o:.:~!:-::-.ï,~~~~~:u'~>:D:.:~~' :·:~:aëi!.."'J~?-~~·;~.í..I'e)·,:"'i,..·..!,,;., "¡~;~';,r."',.',. 09jL506~ 000251 (0) IILenderll is HOMECOMINGS FINANCIAL NETWORK INC. ~risa CORPORATION, ()ig~zed IUlIl exist~ under the laws of DELAWARE Lei1dêc'saddreiis is' 14850 QUÒRUM DRIVE, SUITE 500 DALLAS, T¥ 75254' (E,) 1'~ote.¡¡Jnell!1S 'the promissory note signed by ~orrO\yer and dated JANUARY 4TH, 2006 The Note states.. that Borrower o~es Lender SEVENTY THOUSAND AND NO/100 Dollars (U. S. $ 70, 000 . 00 ) plus interest. Borrower has promised to pay this debt in regular Periodic P~yments and to pay the debt in full not later than FEBRUARY 1ST, 2036 (F) IIPropertyll means the pr9perty that is described below under the heading "Transfer of Rights in the Pr,operty. " (G) IILoanll means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due Under the Note, an4 all;s~ due under this Security Instnunent. pIus interest. (II) "Ridersll means aU. Ri,~rs to this Security Instrument that are executed by BOITower. The following Ri,ders are to ~ executed by Borrower (check box as applicable]: § Adjustable Rate Rider § Condominiwn Rider § Second Home Rider Balloon Ri4er . Planned Urnt Development Rider 1-4 Family Rider . V A Rider Biweekly Payment Rider Other(s) (specify] ro "J\pplical?le Lawll means all controlling applicable federal, state and local statutes, regulations, ordinances IÍnd adIQinistrative rules and orders (that have the effect of law) as well as all applicable fmaJ, non-appealable judicial opinio~. (J) IICommunity A~ociation Dues, Fees, and Assessmentsll means all dues. fees, assessments and other charges that are imposed on Borrower or the Property by a condominiwn association. homeowners ¥so,<i~t,on prs4nib.u' organization. (I\) "Electronic Funds Transfer" means any traQSfer of funds. other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic tenninal, telephonic instrument, computer, or magnetic tape so as to order. instruct, or authorize a ftru;lJlCialinstitution to debit or credit an accpWlt. SQCb term ,Ú)Cludes, but is µat limited to. point-of-slile transfers, automated t~ller maçhine transactions, transfers iIûdated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in SectiQn 3. (M) "Miscellaneous Proceeds II means any compensation. settlement, award of damages. or proceeds paid by any third party (other than insurance proceeds paid Wlder the coverages described in Section 5) for: (i) damage to, or destruction of, the property; (ii) condemnation or other taking of all or any part of the Property; (iii)conveyance in lieu of condemnation; or (iv) misrepresentations of. or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insu...a~ce~' ~~ insurance protecting Lender against the nonpayment of. or default on, the Loan. (0) "Perlo~c Payment" means the regularly scheduled amoWlt due for (i) principal and interest under the Note, p\us (ii)any amounts under Section 3 of this Security Instrument. (P)"RESPAII means the Real E~~te Settleme~t Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation x (24 C.F.R. Part 35(0), as they might be amended from time .to time, or any additional or successor legislation or regulation that govc:fI)S the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard t() a "federally related mortgage loan" even if the Loan does not qualify as a "federal)y related mortgage loan" under RESPA. MFWY7770 (t 1/(0) / 042-668248-0 .. . -6AIWYIIOOO&I,OI ~ Page 2 011& Initial.: -4 ~ ~ Form 3061 1/01 ·~':;¡""~'J..:-,....,."",'..-......"- '-t....~~..a.~,~~,~.:'.....~,~;:.....~r::....~..,,:...;:~_ _: \,...,......-,;,,'_.-~~.'.'....,' '.' ','-.',:.'- -..... :·~:·,l. ·o!..~~~o!>:.~~~~_.........,;;,;.~U,.,;,,·"'~"j!U\O¡:.,~¡:,.t!I:.ã.U:'.',"':1.";¥-';;<_",· ,......"...." 091.5063 C00252 (Q) tlSu.~~~1" i,-l9t8l"est of BOl"I"OW8I"N means ,any, party that has taken title to the Property, whether or not that party ~ )assµmedBoi,rower's obligations W1der the Note and/or this Security Instrwl1ent. TIµNSFER OF RIGHTSIN THE PROPERTY This Secprity Instrwnent secures to·Lender: (i) the rep.ayment of the Loan. and all renewals, extensions and modificatio()S of ~ Nqte; ¡uul (ii) the perfoJ1Wµ}Ce of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the sUccessors and assigns of MERS, with power of sale, tþe following described property located in the COUNTY of LINCOLN (Type of R.ecord~ Jurisdictionl (Name of R.ecordina Jurisdictionl Legal descriptiqn attached hereto and made a part hereof ParcellD Nwnber: 211662521210900 16 GOMER STREET DIAMONDVILLE C-Property Address"):. which currently has the address of (Street) (City) , Wyonùng 83116 (Zip Code) TOGETHER WITH aU the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in tlµs Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrwnent, but. if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to ex.ercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to. releasing and canceling this Security lµs~rU11,1Cnt, ~ORROWER CO~ANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property Ip1d that the Property is unencwnbered, ex.cept for encwnbrances of record. Borrower warrants and will defend generally the title to the Property against all clairnsand demands, s~bjec~ to any encwnbrances of record. TillS SECURITY INSTRUt,dENT combines unifonn covenantsfornational use and non-unifonu çov~ wit4 limited variations by jurisdiction to constitute a unifonn security instrument covering real property. MFWY7770 (t 1/00) I 042-668248-0 _ ·8A(WYlcOOO61.QI . Page 3 of 16 Initilll" ~,I!' 11 I V \=orm 3051 1/01 mm~¡[~r.Jir¡i!¡~¡~;j ,·....·.·.'."'.....":,,;·õ,,-,"'·c.·,, ..-. .:._._,-,,,,;-..--_..;,.-.---,-,~,,.,-,.,--,,,,,,.,,,,,,,;,,,,,,,,,,,,,,"''''';.' ...",.,...a.~..." -'-.'-~-"'---""'-'-""~""'____""'.'_'-~__ .. ..__~_'·.U"_'._""~~_"__. 091506~ t~~illIDii~!íill¡ ~00253 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Se~tion 3. Pay~nts due under the Note and this Security Instrwnent shall be made in U.S. currency. However, if any chec}c or other instrwnent received by Lender as paymeQt under the Note or this Security Instrwnent is returned to Lender unpaid, Lender mayrequ~re that any or all subsequent payments due under the Note and this Security InstrWnent be made in one or more of the following fonus, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier'schçc~, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Len4er when received at the location designated in the Note or at such other 10cation as may be designated by Lender in accordance with the notice provisions in Section 15. ~nder may return any paYJqent or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan cUrrent, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at tbe tùne sucb payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on ~pplied funds. Leqder may hold such unapplied funds until Borrower makes payment to bring the Loan currèm. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier I such funds will be applied to the outstanding principal balance Wlder the Note inunediately prior to foreclosure. No offset or claim which Borrower might ~ave n9w or in the. future aga~t Lender shall relieve Borrower from making payments due under Ø¡e Note and this Security Instr\1ß1ent orperfonuing the covenants and agreements secured by this Security Instrument. . 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2. all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amoWlts due Wlder Section 3. Such payments ~hall be applied ,to each Period~c P~y~nt in the order in which it btrcame due. Any remaining amounts shall be applied first to !atecharges. second to any other amounts due under this Security Instrwnent, and then to reduce the principal,balance of the Note. ". If Lender reéeives a payment from Borrower for a delinquent Periodic Payment· which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the \late charg~. If mor~ tþan one PeriOdic Payment is 9utstanding, Lender may apply any payment received from ~orrower to the repayment of the Periodic Payments if, and to the extent that. each payment can be paid i1i full. To the extent. that any .excess exists after the payment is al?pli~d to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any applicatioIl of pay~nts, ins,urance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount. of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due Wlder the Nôte. Wltil the Note is paid in full, a swn (the "Funds") to provide for payment of amoWlts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encwnbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and aU insurance reqµired by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the tenn of the Loan, Lender may require that Commwúty Association Dues, Fees, and. AssessfflCnts, if any , be escrowed by Borrower. anq such du,es, fees and assessments shall be an Escrow Item. Borrower shall promptly fµrqish to Lender all,notices of anlOunts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives BprrQwer's obligation Jo pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or aU Escrow Items at any tùne. Any such waiver may only be in writing. In the event of $uch wajver, Borrower shall pay directly, when and wher~ payable, the amoWlts MFWY7770 (11/00)./ 042-668248-0 .. -6AIWYIIOOO&I.01 . P-ue 4 011& ,nitioAs:Æ/I ¡J lÆ Form 3061 1/01 J / ..,......~...........a...:......,. .·.:.·~,··...-""'U.",-,__.Lo:.I.CL--'AU..""-_,-·.-,-,,.:,;.~....;.. . .'-'~.C:. ....~....,.....; ,..... .. .:....-.-":.--......~ . .~._......~-....-.....__..-..-....,............."....,.. ..... ...~~.........~..........~~..- ..._~...........-..... OSJL50~~ CùO~S'4 due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall funúsh to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such paYQ1eIúS and to provide receipts shall for all purposes be deeQ1ed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to payEscro~ Items directly, pursuant to a waiver. and BOlTower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revo)ce ~ ,waiver ,as tp any or all Escrow Items at any time by a notice given in accordance with Section 15 and,upon such ·rev~tion, Borrower shall pay to LemÌerall Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pennit Lender to apply the Funds at the time specified under RESPA. and (b) not to exceed the maximum amount a leru.ler can require under RESP A. Lender shall estjmate the amount of Funds due on the basis of current data and reasonable estimates of experiditures of future Escrow Items or otherwise in accordance with Applicable 4w. The Funds shalt be held in an institution whose deposits are insured by a federal agency, instrwnentality, or entity (tncluding Lender, if Lender is an institution whose deposits are so insured) or in any Federal HOQ1eLoanBank. .J.,ender shall apply the Funds to pay the Escrow Items no later than the time specified under REspA. Lender shall not charge Borrower for holding and applying the Funds, annually ~yzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on -the Funds ¡md Applicable Law pennits Lender to make such a charge. Unless an agreeQ1ent is made in writing or Applicable Law requires interest to be paid on ~e Funds, Lender shall not be required to, pay Borrower any interest or eanùngs on the Funds. Borrower and Lender can agree in writing, however. that interest shall be paid on the Funds. Lender sru.ll give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow. as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Fuqds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to ~e up the shortage in accordance with RESPA, but in no more than 12 monthly paYQ1ents. If there is a deficiency of Funds helll in escrow, as defined under RESP A, Le~der shall notify Borrower as required by RESPA. and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly paYQ1eIÚS. Upon paYJDent in full. of all swns secured by this Security Instnuuent, Lender shall promptly refund to Borrower any Funds held by Lender. .. Charges; Lieu. Borrower shall pay ¡ill taxes, assessQ1ents. charges, fmes, and impositions attributable to the Property whiPi can attain priority over this Security Instrument, leasehold paYQ1ents or ground rents on the Property, if any, and Community Association Dues, Fees, and A.ssessQ1ents, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority 9ver this Security Instrument unless Borrower: (a) agrees in writing to tIle pay¡µent of the oblig"tionsecun;d by the lien in a manner acceptable to Lender, but only so long as Borrower is perfonningsuch agreement; (b) contests the lien in good faith by, or defends against enforCement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such prQceedings are concluded; or (c) secur~s VOfll the hohJer of t~e lien all agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detemrlnes that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the MFWY7770 (11/00) / 042.,668248-0 48 -6AIWYI 100061.01 . Page 6 of 16 Initial.: J / eJ... Form 3061 1/01 ¡ _i t· 0.""1 '.',' ~,;. '~~'·.·i· · i: ìj.I: f~· ì:~:;;:;. ;':j~.~~~~~.:::::: '<;!::::':~'::-i~i:'~ . ·,·.·.·t!.;¡!""i..,nl. ""'_',"n" ·.·"'.....__.!¡,J,;.:...!"'.1".";·"......::;;...:-·..,.·~:.~..·.·..'..._,·.·....., --.---.,..-......-.,.........",,' ."........................... ......~....-~~.._...........,-."'"-......,.,.--',......._, ,<.-'---.".: ....;..- .....". :'.:.:.,,¡;..'""':.......... ·~~,,_..t.... 0315063 C00255 \ lien: WitJµn 10dåys of the (\ate on which tha(notice is given, Borrower shall satisfy the lien or take one or Inore of tÞe actions set forth abov~ in this Section 4. . Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service ~edb)' J,.ender in connection with this Loan. 5. Property Insura.nce. Borrower sh~ll keep the improvc;m~nts nOw existing or hereafter erected on the Property insured against loss by fire·, hazards included withil1 the t~rm "extended coverage, H and any oilier hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insuranc.e shall be ma¥iined .in the amounts (including deductibl~ levels) and for the periods that Lenqer requires. What Lender requires rursuant JO th~ Weceqing sentences can change during the tem10f the Loan. The insurm carri~r providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised mueason,ably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone deterrninatiQn, certifica.tion and tracking services; or (b) a one-time charge for flood zone deteITlÚnation and certification services and subsequent charges each time remappings or similar changes· occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the pay~ent of any fees imposed by the Federal Emergency Management Agency in connection with the review Qf any flood zone determination resulting from an objection by Borrower. If B9rrQ~er fails tQ maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any Plirticular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect BorrQwer, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effeçt. Borrower acknowledges that the çost of tþe insura¡w,e· coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Anyarnounts disbursed by .Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrur11ent. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender .to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee aIÍdlor as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewalqptices. If J¡)orro\Ver o~ta~ aJIY form of insurance coverage, not otherwise required by Lender, for d;unage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to t4e .insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender ~ BorrQwer otherwise agree in writing, any insurance proceeds, whether or not the Wlderlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoratioJ;l period. Lender shall have the right to hoJd such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the I work has been completed to l,ender's satisfa¡;;tion, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law req~ires interest to be p¡¡id on such insurance proceeds, Le~er &hall not be required tQ pay Borrower any interest or earnings on s~ch proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be thesole obligation of Borrower. If the restoration or repair is not economi~ally feasible or Lender's security would be lessened, the insurance proceed~ sþ¡ll be applied tp the sums secured by this Security Instrwnent, whether or not then due, with MFWY7770 (11/00) / 042-668248-0 . -6AIWYII00051.01 III Page 6 of 15 Inlll~.: -I ¡¿' c{ . Form 3051 1/01 / ,...:.......,..""..o.l.-.. ..····¡...'.'·'·h......'...,,·,...........-.,.,·...· .. "y.., "....,......'...... .....-'-'~'-_.-,-......~.,'.~,"-"-'-, OSi.506~ :.',00256 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. , If Borrower abaQdo~ the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that t~ insurance carrier has offered to settle a cJaim, then Lender may negotiate and settle the claim. The 3D-day ~riod will be,giJ) when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to ex~ed the amounts unpaid under the Note or tbis Security Instrument, and (b) any other of Borrower's rights (other than the right to any refimd of unearned premiums paid by Borrower) under all Q:¡surance policies covering the Property, ipsofar a~ such rights are applicable to tbe coverag~ qf tJie Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amOunts unpaid under the Note or this Security Instrument. whether or not then due. ,. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of tbis Security Instrument and shall continue to occupy the P,rop~rty as BOrrAwçr's Rriµcip~ reside~ for at least One year after the date of occupancy, unless Lender otherwise agrees in writing, wbich consent shall not be unreasonably withheld. or unless extenuating circumstances exist wbich are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not des~oy, damage or impair the Property, allow the Property to deteriorate or conUlÙt waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is detenuined pursuant to SectionS that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaJed' to avoid further deterioration or damage. If~urance or condenmation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restòring the Property only if Lender has released proceeds for such purposes. Lender ~y disburse proceeds for the repairs and restoration in a single payment or in a series of progress payfi}eJ,}ts as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may UUlke reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improv~~s on the Property. Lender shall give Borrower notice at tht: tQue of or prior to sucb ~ ~efÎor inspection specifying such re~onable cause. 8. Borrower's Loan Application. Borrower shall be in default if. during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge ôr consent gave materially false. misleading, or ina~ur~te infonnation or statements to Lender (0;1" failed to Provide Lender with material infonnation) in connection with the Loan. Material reprçsentations include, but are not limited to, representations concenùng Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Iustrument. If (a)])orrowerfails to perfoqu the covenants and agreements contained in this Security Instrument, (b) there is ¡t'legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instr~nt (such as a proceeding in bankruptcy, probate, for condemnation 0' forfeiture, for e,~orcement of a lien which may attain priority over this Security Instrument or to elÛorce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to PTot~t Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include. but are not limited to: (a) paying any sums secµred by a lien wþich has priori~y over this Security Instrument; (b) appearing in court; and (c) paying reasonable MFWY7770 (HlOO) I 042-6(í8248-O . -6AIWYI (0005).01 .. P"Ue 7 of 15 Inltialo: -/ /!!! () / l-'\ Form 3061 1/01 ':~::r-:::;el*:::;:~: .:':i:,:·:if¡·ti;m¡ ¡I~¡:m:i:r.~:;~~:~ ': :~~~¡):~~:'I~<' .·,'.·.!·I>:';I~'~~·J:CI;.ô:¡';I:!:.:'·I:;.t;::·_¡_,U. :.',':,1,1. ;,'~;:b:'~',_... .",,~;;'<!;'_L,""""""~ ,..;-,_,,;:..i~.:u·..;:, '···:·'.";·':;"\:'-':I:~~.·.·,:"· . .:".', 'l-.:!.1'.rL:':.¡~";·:· ::..::::.:.L:.uu¿. ~":~"''4-''-'-'-.l.;..:.,"-.. ,., :. :..r.:.:, ~~ .¡~ :o'ti.:I<I:":'''O,.,.,',· . ú9JL5063 .. . C00257 '. attorneys' fees to protect its interest in the Propertyand/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water ftom pipçs, elimipate building: o~qtherço,de violations or d~gero,us coruli~ions, and have utilities tumed on or. off. Mthough:µmder 111aY t¡ike,action under this Section 9, Lender dQes not have to do so and is not under any duty. o~ o~ligationJo do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any.amounts'disbursed by l,ender UJ;lder ~his Section 9sh~ll 1?e9ome ~d4ifÏ0~1 debt of Borrower secured by this Security Instr\1I1lCnt. Tþes~amount$ shall bear..interest at the Note rate ftom the date of disbursement and shall be payable, ,with such interest, upon notice ftom Lender to Borrower requesting P¡Yn1el1t· .. . . . . . . ... ,.. , If this SèCurity InstfU111entison a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower a~quife~ fe~ title to the Property, the leasehold ,and the fee title shaH ilot nlerge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insuranc.e and Borrower was required to make separately designated payments toward the preIUÏums for ~Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an altemate mortgªge insurer selected by Lender. If substantially equivaltmt Mortgage Insurance coverage is not availáble, Borrower shall continue to pay to Lender the ~ount of the separately designated payments that were due w'hep ~e ~ufaJ1CC cover~ge. ~ased to be in effect. Lender will accept, use and retain these payments as a non-refwkJa1?le 10ss reserve ÎJ:l lieu of Mortgage Insurance. Such loss reserve shall be nop-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or eamings on such loss reserve. Lender can no 10nger require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Len¡Jeragain becomes available, is obtained, and Lender requires separately designated payments toward the prenûums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the prenúums for Mortgage Insurance, BOffower shall pay the premiums required to ma~in ~Qrtga~e Insurance in effect, or to provide a non-refundable 10S8 reserve, until Lender's requirement for Mortgage Insurance ends in accordance wid} ~y wri~ten agreement between Borrower and Lender providing for such tennination or until te~tion is rèqUired by Applicable Law. Nothing in this Section 10 affects Borrower's obligation tÇ> pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity thát purchases the Note) for certain 10sses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on aU such insurance in force fro~ Jime to time, and maY enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms.and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurancè premiums). As a result of these agreements. Lender, any purchaser of the Note. another insurer, any reinsurer, ~)' qthpr entity, or ~y affiliate of any of the foregoing. may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a ~hare of the insurer's . risk in exchange for a share of the premiums paid to the insurer, the arrangement is often tenned Mcaptive reinsurance. M Further: (a) A~y suçh agreements will not affect the amounts that Borrower has agreed to pay for Mortgage IÌ1surance,or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for 140rtgage ~surance, and they will not entitle Borrower to any refund. MFWY7770 (11/00) / 042-668248-0 . -6A(WYI 10005).01 . Pau. B 01 15 Initial.: -/,K C( Form 3061 1/01 "."<~'''iI;au.W,,\1Z,'':-_'~·,·. '-=,.!O,''''''~'. "..:r.;~"';'::'¡"',;~ ''''.:':'':':'' : ',_ .'. . '..·.~.-.:;;.'-=-L.¡.:;¿ ....._U~". .I.. ..'- -__"..4":;..,~!;....,."..,--,~:-~,,. ~"¡':".;"~'.o:.:.,~..:_~ ..:""".:'~..::.'a.':"::,...",:,,,;....,~ 09î.5063 ,', 1'\0"58 '.' \J t: (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under ~he Homeowners Protection Act of 1998 or any other I~w. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Jns~rance, to have the Mortgage Insurance terminated automatically, and/or to receive a rerundof any Mortgage Insurance premiums tha.t were unearned at the time of such cancellation or ternµnation. 11. AssignJDent of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid ~o Leqder. If the Property.. is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property ,if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such MisceU~ous Proceeds untU Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such insp~ction shall be \Jndertaken promptly, Lender may pay for the repairs and. r~s~or~tion in a single disbursement or in a series of progress payments as the work is COlllpleted. Un!essan agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any inter~st or eafiÙngs on such ¥iscellaneous Proceeds, If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the swus secured by this Security Ins trwuent , whether or not then due, with the excess, if any, paid to Bon:ower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. . In thc::event of a total taking, destruc~ion, or loss in value of the Property, the Miscellaneous P(oceeds sbá11 be appl~ed to the suins secured by this Security Instrwuent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or 10ss 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 equal to or greater than the amount of the swus secured by this Security Instrwuent inunediately before the partial taking, destruction, or loss in value, un1~ss B,orrower and Lender otherwise agree in writing, the sW11S secured by this Security Instrwuent shall be reduced by the amount of the Miscellaneous Proceeds multipliedby the foUowing fraction: (a) the total amount of the swus secured immediately before the partial taking, destruction, of loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or 10ss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruçtion, 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 swus secured immediately before the partial taking, destruction, or 10ss in value, unless Borr9wer and ~r otherwise agree in writing, the Miscellaneous Proceeds shall be appJied to the swns secured by this S~urity Inst11l1DeqÍ whether or not the swus are then due. Ìf the Property is ahandonedby Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle ·a claim for damages, Borrower fails to respond to Lender within 30 days after the da.te the notice is given. Lender is authorized to collect and apply the Miscellaneous Proceeds either to restor¡ttiol). or repair of th,eProperty or to the ~ secured by thjs Security ~trument, whether or not then due. "0pposing Party" means the third party that owes øoirower Miscell~ous Proceeds or the party against whom Borrower has a right of action in regard to Misœllaneous Proceeds. . Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impainnentof Lender's interest in the Property or rights \Jnder this Security Instrwnent. Bon:ower C¡µ1 cure such a default and, if ~1,e~tiQIl þas occurred, reinstate as provided in Section 19. by causil1g the action or proceeding to be dismissed with a ruling that, in ~er's jud~, precludes forfeiture of the Property or other materi~ impainnent of Lender's int~rest in the Property or rights \Jnder this Security Instrwnent. The proceeds of any award or claim for dan.1ages that are attributable to the impainnent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. .. . . All Mi~cell¡u1e~ Proceeds that are not applied to restoration or repair of the Property shall be applied in the Qr4er provided for in Section 2. MFWY7770 (11100) / 042-668248-0 . .6A(WYIIOOO&I,01 . Page II of 1& InJlloJl:ß /1 / 4 Form 3051 1/01 811 f"~f.h_,\ ,. ::;];ii~¡~~~fl~~; . ··.,',_........-.-~",.....,'"".""".1"'"..~. ................"-.........._.. ..,.......·..'.1·....." ..Õ"......" ,._, . -...._,_.....;..;.........."--....~___. '.-"-'.'-"...-.>- ,~....~............._. -.~. .-..,_....._.....~"-.,',.-...................--""....,. ·"'-'--·"---''''''·..·...........·......,..'''-'-,.·-.-··..:..·,'.-..0;...·0·_.4,........... . G9'JL506~ C00259 12. Borrow~r Not ReJeas¢d; Forbearance By Lender Nota Waiver. Extension of the time for payment or modificâtion of aIUOrtization of the sums secured by tþi~ Security IJ,1strµment granted by Lender to Borrower or· any· SUccessor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower Of to refuse to extend time for payment or o~herwise modify amortization of the sums secured by this Security Instrwnent by reason of any demand made by the original Borrower or ~y Su;ccessors· in Interest of Borrower. Any forbe~rance by Lender in exercising any right or remedy illCluding, with 'out limitation, Lender's acceptance of paymerits from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise Of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns ß(mnd. Borrower covenants and agrees tl,la.t Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrµment but does not execute the Note (a "co-signer"): (a) is co-signing this Security InstfW1lent only to mortgage, grant and convey the co-signer's interest in the Property under the tenus of this Security ~tJ;~t; (b) is Ilot personally obligated to pay the sums secured by this Security Instrwnent; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any acconuuodations with regard to the tenus of this Security Instrument or the Note without the 'ro-sigIÍer's consent. Subject to the provi~ions ofS~ction 18, any Successor in Interest of Borrower w~o asswnes Borrower's obligations undér this Security Instrument in writing, and is approved by Lender. shall obtain all of Bqrr,ow,er'~ rights and ben~fit~ U{lder this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writiÌ1g. The covenants and agreements of this Security Instrwnent shall bind (except as provided in Section 20) and benefit th~ sQccessors ~d assigns of :{..ender. 14. Loan Charges. Lender· may charge Borro,wer fees for services perfoffiled in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights Qnder this Security Ins"trwnent. including. but not limited to, attorneys' fees, property inspection and valuation fees. In regardtö any other fees, the absence of express authority in thjs Security Instrwnent to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Secuñty Instnpnent or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the peffilitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to thepennitted limit; IPld (b) any SunlS already collected from Borrower which exceeded pennitted limits will be refiDldedto B'orrQwer. Lender maY choose to make this refund by reducing the principal owed under the Note órby making a direct payment to Borrower. If a refund redµces principal. the reduction will be treated as apartial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refiDld made by direct payment t9 Borrower will constitute a waiver of any right of action Borrower núght have arising Ollt of such overcharge. 15. Not!ces. All notices given by Borrower or Lender in connection with this Security Instrwnent must be in writing. Any notice to Borrower in connection with this Security Instrwnent shall be deemed to have been given to Borrower when mailed by Qrst class mail or when actually deliveréd to Borrower's notice add{ess if sent by other meaps. Nòtice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be ~e Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting B011'ower's change of address, then Borrower shall only report a change of address through that specified procedure. There may l>e Qnly pne designated notice address under this Security. InstrUment at anyone tin1e. Any notice to Lendershall be given by delivering it or by mailing it by first class ma~lto Lender's address stated herein unless Lender has designated another address by notic~ to Borrower. Any notice in cpnnection with this Security Instrwnent shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security InstfWllent isalso required under Applicable Law, the J\pplicable Law requirement will satisfy the corresponding requirement under this Security Instrwnent. MFWY7170 (11/00) / 042-668248-0 G ·6AIWYII00051.01 . Pall. .10 of 15 lruti.., J / C!.Á . . Form 3051 1/01 ..,:......,..................,' .'"'' c:'-'''· .', ,_,."......,_,.,.....~". ~_ ,., : .' "'" __I· ,..,__ ~. _-.._ _'~'......:...-.o¡..._ . ...,.............-.......... ~··--'--""·....&'->.·~.."'"___·~.·...............,·.,.,_·.,t· . ..,.",..~._. ,."......,.-"":' .-...-.,....... ù5JL5063 C00260 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument afe subject to any requiremçnts and limitations of ~pplicable Law. App)icable Law might explicitly or implicitly anow the parties to agree by contract or it might be silent,but SUFh silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of· this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect p~r provisions of this Security Instrument or the Note which can be given effect without the conflicting p~ov¡sion. As used in this Security Instrwuent: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include tl\e plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Trans(er of the Property or a Beneticiallnterest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, coIl\ract for deed, installment sales contract or escrow agreeInent, the intent of w~ch is the transfer of title by lÎorrower at a future date to a purchaser. If all or any part of the Property or any Int~rest in the Property is sold or transferred (or if Borrower is not a na,tural person and a beneficial interest in Borrower is sold or transferred) wi,thout ~nder' s prior written .conseqt, Lender may require inunediate payment in full of aU swns secured by this Security Instnunent. However, this oPt~on shall not be exercised by Lender if such exercise is prohibited by Applicable Law. . If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall Pfovide a peµ04 of not less than 30 days from the date the notice is given in accordance with Section 15 wiØriµ which Borrower plust pay all swns secured by this Security Instrwuent. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pemútted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Açceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Secu*y~trument; (b) such other period as Applicable Law might specify for the teffiÚnation of Borrower's right to reinstate; of (c) entry of a judgment enforcing this Security Instrument. Those conditions are that BOITower: (a) pays Lender all swns which then would be due under this Security Instrwuent and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrwnent, including, but not limited to, reisonaþle attpl11eYs' 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 Instrwuent; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Le11der may require that Borrower pay such reinstatement sums and expenses in one or more of the following fonus, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank: check, treas\Jfer's check or cashier's check, provided any such check is drawn upon an institution who~e depo~its are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrwuent and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the c~e of acceleration under Section 18. 20. Sal~of Note; Change of Loan Servicer; Notice of Grievance. The Note or a. partial interest in the Note (together with t4is Security Instrument) can be sold one or more times without prior nò¡ice to Borrower. A sale might result in a change in the entity (known ~s the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrumetit and. perfonns other mortgage loan servicing obligations under the Note, this Security Instrwuent, and Applicable Law. There also might be one or 1119rc: changes of th~ 19an Servicer unrelated to a sale of the Note. If there i~ achang~ o,f the Lo¡m Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address· to which payments should be made and any other infonnation RESP A ~FWY7770 (t 1100) I 042-668248-0 .. -8A(WYI1OOO6).OI . Page 11 of 16 InitJoI.: 4" Þ eÆ Form 3051 1/01 ~!:';:;::¡:;;,::~ ,.....!.t_,.,'~"_,.;.;.:J f¡1j;W;!~;~;;~!i~~:; :~µ: :·N-r!:~·:~I;¡ì 1~:':::~i:!FJ~ :~:: .,I;....I~......~.;.. ··,.........._Ll.......... .:.""",."'"'......,·,"""';:I".·=.::~....;,.,''-".,' ....,......................... ;::......,.-'-~........~ ."'- .'-_~;.:.~"'_!o.I._:::;.:.'::..:~ ¡_~.. .0 :..,......_..:_......!o;;.'.~ . úSJ1L5063 C001t61 requiresµ¡ co~ction withia notice. of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a LoanServicer otþ.erJhan the purchaser of the .~o~e, the mortgage lOan servicing obligations to Borrower will remain with (he Loan,Servicer or be transferred to a successor Loan Se,rvicer and are not Wisumed by th~ N'* purchaser unless otherwise provided by the Note purchaser. Neither BQrrower nor Lender JDaY co~nce, join, or be jo~d to any jUdicial action (as either an individual litigant or the member of a class). that arise~ from the other party's actions pursuant to this Se«urity Instrument or that ,alleges that the other party has breached any provision of, or any c,luty owed by reason of, this Security, Instrument, Witil such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the otber party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemeçt. to bt: reasonable for purposes of this paragraph. The notice of acceleration and opportW1Îty to cure given to Borrower pursuant to Section 22 and the notice of accelera,tion given to BprrQwcrr pursuant to Section 18 shall be deemed to satisfy the notice and opportW1Îty to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substånces" are those substances defined as toxic o.r hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flammable or toxic petrolewn products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fonnaldehyde, and radioactive materials; (b) "Enviromnental Law" means federal)aws and laws of the jurisdiction where the Property is 10cated that relate to health, safety or·enviromnental protection; (c) "Enviromnental Cleanup" includes any response action, remedial action, or reP,lOval action, as defined in Enviromnental Law; and (d) an "Environment~1 Çondition" ~ans a con<:µtion that can cause,contribute to, or otherwise trigger an Enviromnental Cleanup. , ,Borrower shall not cause:or pennit the presence. use. disposal. storage, or release of any Hazardous Substi4t1Ces,or threat~n to r~lease aµy H;azardo"s Substances, On. Of. in the Property. Borrower slµtll not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any EnvirolUUental Law, (b) which creates an Environrnental Condition, or (c) which, due to the presence, uSe, or release ofa Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of sm,.ll quantities of Hazardous Substances that are generally recoglÚzed to be appropriate to nonnal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in conswner products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any govermnental or regulatory agency or ,private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Enviromnental Condition, including but not limited to, any spilling, leaking. discharge, release or threat of release of any Hazardous Substanc~, and (c) any condition caused by the presence. use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govermnental or regulatory authority, or any private party, that any removal or other remediation of any HazardoU$ Substance affecting the Prope¡:ty is necessary, Borrower shall promptly take all J;lecessary remedial actions in accordance with Enviromnental Law. Nothing herein shall create any obligation on Lender for an Enviromnental Cleanup. MFWY7770 (11/00) I 042-668248-0 .. -6AIWYIIOOO51.01 œ Pao, 12 of 15 Initial., -/? U Form 3051 1/01 / ',," .. ~. : í . I ~ .' . " I, . !. ,\ r. ;' .. í .. i ;: ~ j <,,¡,.: . ' ¡ I ~ 0'" ,I -.1:1\.,;", 'r' ,..;.;.¡. .)i ; ,. í ~. i . ,,¡ 't <; ,. "!' À if 1" <. (. , "~I " ;.. ~ f' ~ '.. ~. . ? I . ~ J. oj, " i:," ~ ' , ., ¡ .' ì f .' . .. : ~ ,. '¡', ,.¡ ". i'.' ,,;I :" ;., t¡¡>'I; I._ .. ". "lj ii ; ~ .1 ~ 1 t <, 1 4 . ,I ~ . . n·:~:n, ;~ '. ", ·(1'. : ;1'-' _f f!, <'I)' ..1 ¡ ~ I,i' I. '"..' ¡., ~. ; ./. ¡' t¡.: ¡ . . '" ¡ ~ I . ~: .' , ~ ;, , ~ ~ ~. " ~. . r. ,J. ....""'-I4'~'!.I~,,~....,..,.:.J<:~:_.""'".;¡........:~""'-:oII...~~-'._..~....""'~....", .;.·.,.".:=.;.:c--.....,.".. . :,.,,;0. ~ -.'.""'.................... .1;'" ".,..:.._.;~...-....:"'.,,-..:...,.""'.:......,.,.i...,,~~.=<.......""-,.-" -'..,....'..~...""-....,...,..;.;.....__,.'-.: ij$J~50G~ c 00262 , NON-UNIFORM COVENANTS. BOTfQwer íIW1 Lc:1Jd.er fwtÞ.er coven¡mt an4 agl'ee as follow,: U. Açç~t~ªt.iqp; R~~dij!$, ¡"egd~ sbªU ;in o.otice to Bornnver prior to acçe.er~tiQQ fal.owing BQrrQwer'~ brqçh of ,.py çQv~tmtor fl;f~eQleQt io tbi~ Seçprity Ißstnunent (but PQ. pqO,f tf;) ,ccf;\lendioQ uu4~r SecÜQJ'.8 pul~s AppÜ~Þ.e J.ªw PfQvides otberwi~~). TÞ~ poqee ~I\ª" ~J}ec.ij'y: (ª) l"~ 4!>favlt; (þ) tile 3Çtiqq f@(j"jn,4 tQ çQre tJ~e cJ,ef~vlt; (ç) aðªte, "~t l~:¡ tþ~Q 30 dlt,y~ froan the d.3te ,t....~·~ is ",V~Dtº :PQfrQwf:!r~by wbiçb the dl.'f~plt mq~. þ,e &"rel:1; ud (JI) thJd fai.J.Jr~tQ cUr~tbe 4~f{t»U o.p Qr befQr~ the dJte ~peçifi }d in the notiç~ miJ)' r~lt il) f.l.cceIßfa.ipD of the !iums ~eçµfe¡j by t..a~u.rJ~J wtrumlmt aDd ~ªI'Qf tlw rrQp.J~rt)'. The nptice s.þ~Jl {U-fther infpflP :a.Qrrow~ Qt the riç.bt '0 rdplitate ªft~ ,ççelenUQQ Dnd tbe right to. brin~ ¡cou.... 3~«ao to' ~~~t the QøQ~e~tepce 0.' 3 .'3"U pr QQY Qtber 4efeASe ()f ßPffQW~" tP, 3~.ç.~lerªti.QQ aQd s.ª.le. U tbe def"wt b qQt cUred PI) Qr befo-fe the 4J3te sp~ned tp. ttu~ Qoth~e! Lender ªt i~ opu,pp m3Y r~vh'l: immetUatepªYffieut in {\iU pf i\U ·smm sççyred by tl)ü Sf£uritl fnstrQQlept witbpyt furtber demand ªt!d may iDvo~e the p,O\Yef 0.1 1iª'4} 1»UI any Qth~r r~et;ij~p,çrmitte~ by AppJiC3Þle Law. Lender shaU be e..tit1.eð to çpJJeçt ªU N¡.epsea inf;grn~d fA punuiua; tbe rem~~ pfo.vi4e~ in tWs Section ~Z. includin¡:, bqt pot lill1ited to., f~Q¡aable attorneys' fe~ aq4 .~~t$ Qf OUe evidence. Jf Lende.- tqvQkes the power pf sªI~, Lender sbill give n.o.tice of iJ)tent to fºreclo~e to JJQrrQwer aAd &0 the penoD jQ ¡m~~ Qf tbe frop'ert)'~ if <JitfereDt, in JI,.c,ºnJilnçe wi-tb 4ppü~Þle :(.JUY. J.mder :ibaU çive PQÜ.c, oftbe ~ªIe tQ :porrower in tbe Jßanper prQvjded in Seçtiou 15. Lend~ shan pl.. \lit". 'sh tb~ D9tiçe Qf '31e, ¡PUI. the froperty sþaU be sold in tÞe mauuer.. pr~CnÞe4. by A. PPU.·/':.a.,.b.le tfw. J,.eQder Qr iÞ a~pet,! may pun.:b~e tbe fro pert)' at 3QY s~e. The prQceeds of tbe s~le shall be 3pplild ¡Btbe foUowiP& order; (3) to all ~pew~ f;){ tbe s3'e, including, but not Ibnite4 .tf), r~Qp.ªÞle ath>rne)'s' f~¡ (Þ) tQ rd. sums seçured by this Seçnrity Instrument; Mil (c) any e"cess to tile »mQu Qf p~rsops Þ~~JJl eptiUed tø it. ,~. a~~. UPAA pa)'ment of al1 8\UP$ secure4 by this Sc::cwity Jnstrwneµt. Lend~r Wdl releõl.Se tbis ~~mU)' !mtrnmeut. BorrQwel'wll pay ¡my recordation costs.Lernlef may charge ÐOTfow1:r a fee fur rçle~~iP"Uû~ Security Jn$tnunent, but om)' if the fee is paid to a third party for services rendered and the char&in8 of the fee iSPemútted under AppliC4ible Law. 24. W3tvm. Ðorrowel' releastls and waives aU rights under and by virtue of the homestead exemption l4&ws of Wyoming. MFWY7770 (11/00) I 042-668248-0 . -6AIWY) (0005).0\ . Peye \3 of \5 Inlliel.~~ U Form 3061 1/01 ~~lij~~¡ti;1 .;', \ ..... ·.·:a:.......fM.C~III.¡..~..-·!..!.oo':O'··.. ,.~~-r.io!.I..A.'.:.-...:~."..':O"_...':o';:...._..:.¡, .t·;~..~.·.. . üSiJ1.50ßQ ,. ..........e-::-.;,..... '. ·.·._·_c..w~JlUlII'.;.. _..i: ..:"'.~......~,~-:t;..:~,'-j.:. .;':;~u.:!.I&!.¡JI.......~.:.....t.o.....~.::,.....'"".t:- ',.:':I,"";¡Y"""O,O.', C00263 BY SJGNJtlOØm..oW. 1lP.ffowet aÇ£epts aM a¡rees to d1e terms aud coven¡µus CoIUai.Qed in thù ~&)' ~~ and in aa)' R..idOr '~ocuted by Borrower W recorded with it. WltOo..: - ~. ,. ., r __~_. :. t. . 1 ..." (Seal) -iarrow" . , (Seal) -~OfI'ower (Seal) -BorrowCf MfWY7770(II/OO)/ 042-668248-0 ~'ACWY) 100011.01 .k.~. IRWIN RICHARDSON ~t~t~ CJI'Ò¥CI!ARl>$OI' . Page 140' 11 . " "" (Se~) -BQtfoYtc:t (Se~) -Borrower (Seat) -Borrower (Sea!) -Borrower (Seal) -Borrower form 3061 1/01 ··.·.·.....·,.,,·.·.·l·.~.è.'.~·A..' ;~.. :::,..!. C;'.:"::, .~:-t'U~.~-. ',:"..; '.:.'~' ;..'..,.:;~~:..'. , .. :....:. ....J,;..,. ''.;.n~:~ .~.', uS1L5063 STATE OFWYOMJNG. .·,·.·~·..a.J~¿I.·~1 '. "!.... ~ ~..,..,'.~:.::.,:;¡;"'~,'.j"r.:'...~..i...&.':__ ";,.;: ·.-;':A:".·.:;:õi:I''¡:.'·'¡¡¡,\;,;'''-''! .,....·:·;.':·.'.:.:,';..~....·.·.1 Lincoln ~., 00264 . The foregoing instrument was acknowledged before me this 4th day of January 2006 County ss: by IRWIN RICHARDSON AND CINDY RICHARDSON, HUSBAND AND WIFE My Commission Expires: 10-2-07 .'~..~. NANcy STN'fORO - tlOTARY PU8UC C~CI. :.: '" CoImissioa fx¡¡ft. MFWY7770 (11/00) I· 042-668248-0 cD -6AIWYIIOO051.01 . N~~ Initial" Page 15 of 15 !::::::::::!*:::I¡::~ t:~ ~J Form 3051 1/01 ~?~;~m~mm~~~:~~ ..·..:,~_~.·.,,<...-;-~,~.~~·.·,.·.t '.;:'4".;:"""QI:K'lSXmW"-"-'''~'''~-~~_-;,~I!'¡:.;;e.,.,.j,>',.::,'.:;:,~,~!~,,~_,:,,':_Jr._. :;~~~;:~"'';;·:£:¡:ia".Q~:t:~:·;r.· ,. ,. .. -p¡" ··~.4_"'-~.råJ.;ö¿~t:W"n~..SJ ~1&!;~~~;&'U.o.I.:.:i;.'[-.._,_;,::~~,.I.:"'..,,·,.~'r..~~.¡-I':.~.....,j,.. .!..._,!i"r:.~;:"~~!;;.'::. o~1L5063 C00265, Lot~ 31, 32, 33 and 34 of Block 27 of the Town of Diamondville, Lincoln County, Wyoming as described on the official plat thereof.