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RECEIVED 112612006.at 3:17 PM
RECEIVING# 915473
BOOK: 610 PAGE: 463
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
1T~edBy: Am€riqu€5t Mortg~g€ CDmp~ny
:F",ronø11.e ~yJ..ar
2B09 L -Hnrmony Rd.. 4/190
fDrt CDllin5. CD BD52B
ISp.au Above TIWLine FÐr BecorrlingData)
DEFINITIONS
MORTGAGE
2q)(j'-tqJ~
Recording Requested by .&.
When Recorded Return To:
US Recordings, Inc.
2925 Country Drive Ste 201
S1. Paul, MN 55117
Words med Dunultiple sections of this document.are dßfinp.ð below lIIld other words .are .defined in Sections
3, 11,13. 18,20 lIIld21. Cerœin rules Iegarding :the usage ofwords medin this rlocument.are.also provided
in Section 16.
(A) "Security .Instr.ument".means this document, w1rich is dated.Ja:nuary li, :2DD6
10gether with Jill Riders to 1his rlo~nmtmt
(B) "BOITOwt!l"" is ¡jEEFREY G JiITSHI Bnrl .JO LINN JiITSHI, H"",h"'T'lt::I Bnrl"'Wi:fe, As
::Tenants .by the :Enti:ra~
BQIIower is :the mortgagor under this Security1nstrument.
(C) '~er" is Ä"..".,.-; quest .Mortgage Company
WYDMING-5ir1f 1e F.amily-F.annJe MaelFtÐddie Mac UNIFDRM JNSTRUMENT TDnn 3051 1/01
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Lender is li I:arparation
organized lUld existing under1he laws ofDe1:aware
l~1>llddressis~~OO :Town :and CountJ:y :Road, £1ri.te .200 Orange, r:A .92868
Lender is 1hemortgagee under1his Security Jnstrument.
(D) "Note" means 1he promissory note signed by Borrower lUlddated~anuary li, .2006
The Note states :that Borrower owes Lender one .hundred five thousand three lumdred :and.
OO/~OO Dollars
(U.S. $ ~05 ,300 - 00 ) JÙUs .interest. Borrower Ms :promised 10 pay 1his .debt ill regular Periodic
PllymentslUld 10 pay the .debtillfullnotlater:than 'Februaxy ~, .2036
(E) "Property" means the property :that is .described below under 1he h~lIniTlZ "T:ransfer of Rißhts ill 1he
Property. "
(F) ''Loan''.means 1he .debt evidenced by 1he Note, JÙUs .interest, lIIlY prepayment cl1arges lUld late cl1arges
llue under the Note, and lÙl1>llDlS llue under1his Security lns1::rument, plus illterest.
(G) "Riders" means 11ll Riders 10 this Security lnstrument :that Me executed by Borrower. The following
Riders Me to be executed by Borrower I check box liS lipplicable]:
D Adjustable Rate Rider D Condomi~ill111 Rider D Second Home Rider
DBlÙloonRider DPlannedUnitDevelopmentRider D l-4:F1lIllilyRider
DVARider DBiweeklYPllymentRider D Other(s}Ispecify]
(H) "Applicable Law" :means 11ll controlling liPplicable fedem1, 1>tate lUld local statutes, Iegulations,
ordinances and ßn111iTli~tive :rules lUld orders (that llave the clf.ect of law) liS well liS 11llllpplicab1e:final.
non-lippeaJable judicial opinions.
(I) "Community ÅBsociation Dues, Fees,.and ÅBsessments" means lÙl dues, :fees, liSseS!':111~Tlts 1I.Ild other
cl1arges :that Me .imposed on Borrower or 1he Property by li condominin111 liSsocia:tion, JIomeowners
.association or similar organization.
(J) ''Electronic Fnnds Tr.ansfer" means liIlY tnmsfer of funds, other:than li 1:rlu1saction originated by check,
Dmít, or Bimilar paper instrument, which is initillted through lIIl :electronic 1ermiruù, telephonic:inst:rument,
computer, or magnetic tape so as 10 order, instruct, or llllthorize li iinancial institution to debit or credit lIIl
liCconnt. Such term includes, but is not limited 10, point-of-sale transfers, lUltomated teller "'1Ic'hiTl~
1:rlu1sactions, tnmsfers iTl1tillt1'\n by telephone, wire :transfers, 1I.Ild IIlltn11111ted clearinghouse :tnmsfers.
(K) ''Escrow Jtem.s" means those items th.at Me .described ill Section 3.
(L) "~cdlaneou.s Proceeds" means any compensation. settlfflTl~Tlt, llWMd of damages, or proceeds p1Úrl
by lIIlY third party (other:than In!':11TIITlc'e proceeds paid under 1he coverages .described ill Section 5) for. (i)
damage 10, or .destruction of, the Property; (ii) COTlnfflTlTllltion or other taking of lÙl or lIIlY part of 1he
Property; (iii) conveYlIIlCe ill lieu of connfflTlTllltion; or (iv) :nrisrepresentations of, or omissions as to, 1he
vlÙue.and/or condition of the Property.
(M) "Mortgage Jnsnr.ance" means :insunmce protecting L:m.der ,against 1he TIonpayment of, or rlefanlt on,
the loan.
(N) "Periodic Fliyment" :means 1he regularly 1>chednled 1mlonnt due for (i) principallUld illterest under :the
Note,plns (ii) lIIlY 1mlonnts under Section 3 of this Security lnstrument.
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(0) "RESPA1t means the Real Estate Settlement Procedures Act (U U.S.C. Section 2601et seq.).and its
implemeirting regulation, Regulation X (24 C.F.R. P.art 3500), .as they:might be Jlrn~nned from time to time,
or llDY .additional or successor legislation or regulation that governs the same subject matter. As used in this
.security lnstrument, "RESPA" refers to all req1rirements .and restrictions that lire imposed in regard to II
"fenffl"JI lly related mortgIige loan" even if the Loan .does Jlot .qualify .as II "federally related mor.t:gage loan"
under RESPA
(P) "Successor in 1nterest of :Borrower" .means llDY pMty that.has taken title to the Property, whether or
Jlot thatpMty.has liSsumedBorrower's obligations under the Note lU1d/or this Security .Instrument.
ìRANSEER OF RIGHTS lNTBEPROP.ER.TY
This Security .Instrument secures to Lender: (i) the repayment of the LOllIl, .and all renewals, extensions.and
monifi~Jltinn!': of the Note; .and (ii) Ihe performance of Borrower's covenants.and llgfeements under this
Security lnstnunent.and the Note. For this pwpose, Borrower does .hereby mor.t:gage, grant.and convey to
Lender .and Len.der's BUCCessors .and assigns, with power of sale, Ihe following .described property located
in the County of LINC~
IType.ofRecordingJurisdiction] {Name ofRecordingJm:isdiction]
L~Yñl Descriptiun Attñched ~eretD ~nd MñD€ ñ Part ~ereDf.
J>lIrcelID Number: ..2ll£J.-44D~D4BDO
3~4 :1./.2 :I>.i.ne Avenue
(''Property Address"):
wlùch currently .has the .address of
{Street]
ICity], WyOIIlÙ1g B3~O~ ]Zip Code]
J{Þ1TmIQT'-Ðr
TO~lliER wrm.all the .improvements DOW or .hereafter erected on the property, .and.all ~JI¡¡fflT1~t!':,
.appurtenances, .and :fixtures JlOW or .hereafter II pm of the property. All replacements .and .additions .shall also
be covered by this .security lnstnunent. All of the foregoing is re:feued to in this Security 1nstrument.as the
''Property. "
BORROWER COVENANTS that Borrower is lawfully seised of the estate .hereby conveyed .and.has
the.:right to mortgIige, Nmlt.and convey the Property .and that the Property is lIn~n~lIrnhered,. except for
-t'm~lIrnhTJIn~s of record. Borrower wßmU1ts .and will.defend genem1ly the title to the Property .against .all
rlaims .and rlp.rnJlnn¡¡, .subject to llDY .encllrn hTJIn~es of record.
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-nns SECURITY lNSJRUMENT combines uniform covenants for JUltional use .and non-uniform
còvenants with limited variations by jurisdiction to constitute A uniform secmity instrument covering real
:property.
UNIFORM COVENANTS. Borrower .and Lender covenant.and Agree AS follows:
1. PAyment of Principal, Interest, Escrow Items, Prepayment Charges, JUld 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 ltems
pursuant to Section 3. Payments due UI1.der the Note .and this Secmity lnstrument shall be made .in U.S.
currency. However, if lUlY check or other instrument received by Lender AS payment under the Note or this
Secmity lnstrument is returned to Lender unpaid, Lender may require that lUlY or.all subsequent payments
.due under the Note lUld this Security Jnstrument be.made.in one or .more of the following forms, as selected
by Lender: (a) cash; (b) .money order; (c) certified check, bank check, treasurer's check or cashier's check,
provided lUlY such check is drawn upon lUl institution w.hose .deposits .are insured by A federal Agency,
instrllmp.ntRlity, or entity; or (d).Electronic Funds Transfer.
l'Ayments.are .deemed received by Lender when received At the location designated .in the Note or At
BUch other location.as may be designated by Lender .in .accordance with the notice provisions .in Section 15.
Lender may return lUlY payment 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 lUlY 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 "the time such payments .are
.accepted.lf each Periodic l'ayment is Applied.as of its scheduled due date, then Lender need not pay interest
on unapplied funds..Lender may .hold such unapplied funds until Borrower:makes payment to bring the Loan
current.lf Borrower does not DO so within A reasonaWe period of time, Lender shall either Apply such funds
or Ieturn them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal
balance under the Note .llnmediately prior to foreclosure. No offset or claim w.hich Borrower :might .have
now or in the :future against Lender shall Iweve Borrower from .making payments due under the Note .and
1his Security lnstrument or performing the covenants and Agreements secured by this Security Jnstrument.
2. Application of ~.ayments or Proceeds. .Except as otherwise .described in 1his Section 2, .all
payments Accepted.and .applied by Lender shall be Applied.in"the following order of priority: (a) interest due
under "the Note; (b):principal due under the Note; (c) amounts due under Section 3. Such payments shall be
.applied to each 1'eriodic 1'ayment .in the order .in which it became due. Any IfflllRinin2 amounts shall be
.applied fust to late charges, .second to lUlY other amounts due under this Security lnstmment, .and 1hen 10
Ierluce the principal balance of the Note.
If Lender receives A payment from Borrower for a delinquent l'eriodic 1'ayment which includes .a
¡'¡lIffi~iP.Ylt amount 10 pay lUlY late charge due, the payment may be .applied to the delinquent payment.and the
late charge.lf.more than one 1'eriodic 1'ayment is outstanding, Lendermay apply any payment received from
Borrower to the repayment of the 1'èriodic 1'Ayments if, .and to the ~t that, each payment can be paid.in
full. To the extent that lUlyexcess exists.after the payment is .applied to the full payment of one or .more
1'eriodic 1'ayments, such excess may be applied to lUlY late charges Due. Voluntary prepayments shall be
.applied fust to lUlY prepayment charges and then as .described.in the Note.
Any.application of payments, insurance proceeds, or Miscellaneous :PIOceeds to principal due under the
Note shall not extend or postpone the due date, or change the amount, of the :Periodic 1'ayments.
3. l<nnds for Escrow Jtems. Borrower shall pay to Lender on the day 1'modic :Payments .are due under
the Note, until the Note is paid .in full, a sum (the "Funds") to provide for payment of amounts due for: (a)
taxes .and assessments .and other items which can Attain priority over this Security Jnstrument as a lien or
:encumbrance on the 1'roperty; (b) leasehold payments or ground Ients on the 1'roperty, if any; (c) prp.mlnm!':
for .any .and lÙl insumnce Iequirt:d by Lender under Section 5;.and (d) Mortgage lnsumnce premiums, if .any,
or .any sums payable by Borrower to Lender .in lieu of the :payment of Mortgage lnsurance premiums in
.accordance with the provisions of Section 10. These items.are L:alled ''Escrow ltems." At origination or .at
lUlY time during "the term of the Loan, Lender may Iequire that Commnnity Association Dues, Fees, .and
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Assessments, jf llIlY, be ~scrowed by Borrower, and such dues, £ees llIl.d llssessments .shall be an Escrow
Item. Borrower shall ]ll'omptly :furnish to Lender .all Jlotices of llIIlOunts to be paid under this Section.
Borrower .shall JUly Lender the Funds for Escrow Items llIlless Lender wllÌves Borrower's obligation to pay
:the Funds for liIlY or .all Escrow Items. Lender:may wllÌve Borrower's obligation to pay to Lender Funds for
liIlY or .all Escrow Items llt llIlY 1ime. Any such wllÌver:may only be in writing.1n the t:Vt:Ilt of such wAiver,
Borrower .shall JUly .directly, w.hen llIl.d where paYAble, the llIIlOunts .due for llIlY Escrow Items for which
payment of Funds llas been wllÌved by Lender and, if Lender requires, shall fumish to Lender receipts
~viile.ndng such pAyment within such time period llS Lender :may require.· Borrower's obligation to make
Buch pAyments and to provide receipts .shall for .all pwposes be deemed to be A coverumt and Agreement
contained .in íhisSecurity lnstnunent, AS the phrase "coverumt liIldagreement" is used in Section 9. 1f
Borrower is obligated to PAY Escrow Items directly, pursuant to A w.aiver, and .Borrower £ails to pay the
lIIIlount .due for liIl Escrow Item, Lender :may exercise its :rights under Section 9 liIld pay such llIIlOunt and
.Borrower shall then be obligated under Section 9 10 repay to Lender liIlY Bllch llIIlOunt. Lender :may revoke
the w.aiver .as 10 liIlY or .all Escrow Items llt llIlY 1ime by A 110tice given .in ACcordance with Section 15 and,
upon such revoClition,Borrower shall PAY 10 Lender .all Funds, and in such llIIlOunts, that life then required
under this Section 3.
Lender :may, At liIlY time, collect llIl.d hold Funds in liIlllIIlount (A) sufficient to pem1Ît lender to Apply
the Funds At the time specified under RESP A, and (b) 110t to -exceed the T'UIY1mnrn llIIlount A lender CllIl
Iequire under RESPA. Lender shall estimate the llIIlOunt of Funds due on the basis of current .data and
reæ;onable estimates of expenditures of future Escrow Items or otherwise in llccordance with Applicable
Law.
The Funds .shall be l1eld in llIl institution w1:lOse .deposits life insured by II federal .agency,
instrumentality, or entity (indllilinz Lender, if Lender is liIl institution whose deposits life so insured) or in
liIlY Fedenù Home lOllIl Bank. .Lender shallllPply the Funds 10 pay the Escrow Items 110 later than the 1ime
.specified under RESPA. Lender .shall Jlot charge Borrower for 110lding and llPplying the Funds, .annually
lUliÙyzing the escrow ACCOunt, or verifYing the Escrow Items, unless .Lender pays Borrower interest on the
Funds and Applicable Law permits Lender to make such II charge. Unless llIl.agreement is made in writing or
ApplicableLaw requires interest to be pllÌd on the Funds, Lender .shall 110t be required to pay Borrower any
interest or:earnings on the Funds. Borrower and Lender CllIlllgree in writing, 110wever, that interest shall be
paid on the Funds. Lender .shall give to .Borrower, without charge,an llI1I1illÙ ACCOunting of the Funds .as
required by RESP A.
1f there is A swplus of Funds l1eld in escrow, .as defined under RESPA, lender .shallllccount 10
.Borrower for:the -excess funds .in ACcordance with RESPA.1f there is A shortage of Funds hcld .in escròw, as
.defined under RESPA, Lender .shall 110tify Borrower.as required by RESPA, liIld Borrower.shall pay to
Lender the llIIlOunt :necessary to make up the shor1:age in ACcordance with RESP A, but in no more than 12
monthlYJUlyments.1fthere is A deficiency of Funds hcld.in escrow, llS defined under RESPA, Lender.shall
Jlotify .Borrower llS required by RESPA, and Borrower .shall pay to lender the llIIlOunt necessary to make up
the ile.fi de.n~y in ACcordance with RESPA, but in 110 more than 12 monthly payments.
Upon payment in:full of.all sums secured by this Security lnstnunent, lender .shall promptly refund to
.Borrower liIlyFunds l1eld by.Lender.
4. Charges; Liens. Borrower .shall pay .all taxes, llSseSsments, charges, iÏnes, and impositions
llttributable 10 the .Property wllich CllIlllttain priority over this Security Instrument, leasehold payments or
ground rents on the .Property. if llIlY. and Cnrnrnnnity Association Dues, Fees, and Assessments, if llIlY. To
the atent that these items life Escrow Items, Borrower .shall PAY them .in the:manner provided .in Section 3.
.Borrower .shall promptly ilischarge liIlY lien which l1as priority over this Security 1nstmment unless
Borrower: (a) llgrees in writing to the payment of the obligation secur~d by the lien in .a:manner ACceptable
to.Lender. but only so long llS Borrower is pettOIII1Îng such .agreement; (b) contests :the lien in good faith by,
or ile.fenil!': .against enforcement of the lien in, legal proceedings which in Lender's opinion operate to pr1::Vt:Ilt
the enforcement of the lien while those proceedings life pending, but only until such proceedings life
cnnc1nnp.0; Dr (c) secures from the 110lder of the lien liIlllgreement satisfactory to Lender suborilinMil1g the
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lien 10 this Security lnstmment. 1£ Lender detennines that .any part of the Property is subject to .a lien which
.can .attain :priority over this Security lnstmment, Lender may give Borrower .a notice identifying the lien.
Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more
of the .actions set forth Above in this Section 4.
Lender may require Borrower to pay A one-'time charge for A real estate tax verification and/or reporting
.service used by Lender in connection with this Loan.
5. -Property Insur.ance. Borrower shall keep the improvements now existing or .hereafter erected on the
Property insured .ag.a.inst loss by fire, hazards included within the term "extended coverage," and any other
l1.aza.rds including, but not limited to, earthquakes and floods, for which Lender requires insurance. This
insurance .shall be TIlRintRinp.d in the .amounts (indllning deductible levels) .and for the periods 1h.at.Lender
requires. "'What Lender requires pu:r.su.ant to the preceding sentences can change during the term of the Loan.
The insurance c.anier providing the insurance .shall be chosen by Borrower subject to Lender's right to
.disapprove Borrower's cllOice, which Tight shall not be exercised unreasonably. Lender .:m.ayrequire
Borrower to :pay, in connection with this Loan, either: (a) A one-time charge for flood :zone detennination,
certification JU1d trackinz .services; or (b) .a one-time charge for flood :zone detennin.ation.and certification
.services .and subsequent charges each time remappings or .simil.ar changes occur which reasonably .might
.affect such .dettmTlinRtion or certification. Borrower .shall.also be responsible for the payment of any fees
imposed by the Federal .Emergency M.an.agement Agency in connection with the review of 1mY :flood:zone
.det~inRtion resulting from 1m objection by Borrower.
1£ Borrower fails to TIlRintRin any of the coverages described Above, Lender may obtain insurance
coverage, .at Lender's option .and Borrower's expense. Lender is under no oblig.ation 10 purchase any
p.articular1ype or .amount of coverage. Tl1erefore, such coverage shall cover Lender, but might or might not
protect Borrower, Borrower's equity in the Property, or the contents of the Property, .against any risk, l1.aza.rd
or li.ability JU1d might provide greater or lesser coverage than was previously in effect. Borrower
.acknowledges that the cost of the insurance coverage so obtained .might significantly exceed the cost of
insurance 1h.at Borrower could .have obtained. Any ..amounts disbursed by Lender under this Section :5 .shall
become ..additional debt of Borrower secured by this Security lns1rument. These .amounts shall bear interest
.at the Note:mte from the Ll.ate of disbursement JU1d.shall be payable, with .such interest, lIpon notice jj-om
Lender to Borrower requesting payment.
All insurance policies required by Lender .and renew.als of.such policies .shall be .subject 10 Lender's
Tight to .disapprove such policies, shall include A standard mortgage clause, .and .shall :.name Lender llS
mortgagee and/or llS 1m..additionalloss payee. Lender .shall ,have the right to hold the policies .and renew.a.l
certificates. 1£ Lender requires, Borrower shall promptly give to Lender .all receipts of paid prt=miums .and
:renewal notices. 1£Borrower obtains 1mY fDIm of insurance coverage, not otherwise required by Lender, for
dmnage to, or destruction at: the Property, such policy shall include .a .st.and.ard mortgage clause .and .shall
.n.ame Lender llS mortgagee and/or llS an ..additional loss payee.
1n the event of loss, .Borrower .shall give prompt :notice to the in!':IITRTlCe c.arrier .and Lender. Lendermay
:make proof of loss if not:made promptly by Borrower. Unless Lender .and Borrower otherwise llgree in
writing,1mY in!:1ITRn~e proceeds, whether or not the underlying insurance was required by Lender, .shall be
..applied to restor.ation or repair of the Property, if the restoration or repair is economically feasible 1lI1d
Lender's .security is not lessened. During .such repair .and restoration period, Lender .shall.have the right 10
.hold such insurance proceeds until Lender .has .had an opportunity 10 inspect .such Property to ensure the
work .has been completed to Lender's satisf.action, provided that .such inspection shall be undertaken
promptly. Lender may disburse proceeds for the repairs .and restor.ation in .a single :payment or in A series of
progress payments llS the work is completed. Unless an .agreement is :ma.de in writing or Applicable .Law
:requires interest 10 be:p.aid on such insur.ance proceeds, Lender .shall not be required to :pay Borrower 1mY
interest or earnings on such proceeds. Fees for public .adjusters, or other third parties, retained by Borrower
.shall:not be:p.aid ont of the insur.ance proceeds .and .shall be the sole obligation of Borrower. 1£ the restoration
or repair is not economic.ally feasible or Lender's security would be lessened, the insur.ance proceeds .shall be
llpplied 10 the .sums secured by this Security lnstrument, whether or not then due, with the excess, .if .any,
p.aid to Borrower. .such :insurance proceeds .shall be llpplied in the order provided for in Section 2 .
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JfBorrower .abandons the Property, Lender:may .:file, negotiate.and settle lIIlY 11vailable insurance claim
.and related :matters. JfBorrower Does not respond within 30 days to 11 notice from Lender that the insurance
£aITÍer lIas offered to settle 11 claim, then Lender:may .negotiate.and settle the claim. The 3D-day period will
begin when the notice is given. 1n either event, or if Lender .acguiresthe Property under Section 22 or
otherwise, Borrower .hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an 1lIIlount
:not to :exceed the 1lIIlounts unpaid under the Note m this Security lnstnunent, .and (b) any other of Borrower's
::rights (other than íhe TIght to any refund of lIn~::tTI1~c1 prffl'Tlillm!': paid by Borrower) under all insurance
policies covering the PIOperty, insofar as such rights.are 11pplicable to the coverage of the Property. Lender
:may use the insurance proceeds either to repair or restme the Property or to pay 1lIIlOunts unpaid under the
Note or this Security 1nstnunent, whether m not then due.
6. Occupancy. Borrower Bhall occupy, :establish, .and use the Property 11S Borrower's principal
r:esidence within 60 days 11fter the :execution of this Security lnstnunent .and shall éantinue to occupy the
Property.as Borrower's principal residence for 11t least one year .after the date of occupancy, unless Lender
otherwise llgI":ees in writing, which consent .shall not be unreasonably withheld, m unless :extenuating
cirCllm!':t::tn~es :exist which.are beyond Borrower's control.
7. Preservation, .MaÏníeuance aud Protection of the Property; Inspections. Borrower shall not
demoy, damage or impair the Property, 11llow the Property to deteriorate or commit waste on the PIOperty.
Whether m :not Borrower is residing in the Property, Borrower shall maintain the Property in order to
pr:event the PIOperty from deterimating or decreasiug in value due to its condition. Unless it is determined
pursuant to Section 5 that repair m restoration is :not :economically feasible, Borrower Bhall promptly repair
the Property if damaged to 11voidfurther deterioration or damage. Jfinsurance or concl~mmltion proceeds Me
paid in .connection with damage to, or the taking of, the Property, Borrower .shall be responsible for repairing
or restoring the Property only if Lender bas released proceeds for such pUIposes. Lender may disburse
proceeds for the repairs .and restoration in 11 single payment or in 11 series of progress payments 11S the work is
.completed. 1f the insunmce or conclP.TT1n::ttion proceeds .are not sufficient to repair or restore the Property,
Borrower is :not relieved of Borrower's obligation fm the completion of such repair mrestoration.
.Lender or its ligent :may make reasonable entries upon .and inspections of the hoperty. If it .has
reasonable cause, Lender:may inspect the interior of the improvt:ments on the Property. Lender shall give
Borrower:notice 11t the time of or prior to such lIIl interior inspection specifyiug such reasonable cause.
B. BOJTower'.s Loan Applicatiou. Borrower shall be in default if, during the Loan 11pplication process,
:Borrower m lUly persons or en.tities .acting at the direction of Borrower or with Borrower's Jmowledge or
.consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to
provide Lender withmaterial information) in .connection with the Loan. Material representations include, . but
.are :not limited to, repr:esentations concerning Borrower's occupancy of the PIOperty 11S Borrower's principal
residence.
9. Protection ofLender'.s lnterest in the Property .and:Rights Under this Security Instrument If
(11) Borrower:fails to perfonn the .covenants .and .agr~~nt!': cont;¡in~d in this Security lnstnunent, (b) there
is 11 legal proceeding that.nûght 5ignificantly llffect .Leuder's .interest in the Property .and! m TIghts under this
Security lnstrument (such asa proceeding in bankroptcy, probate, for concl~mnation or foIfeiture, for
:enfmcement of 11 lien wlllch may 11ttaÏn priority over this Security lnstnunent or to :enforce laws or
regulations), or (c) Borrower lIas 11bandoned the PIOperty, then Lender may do .and pay for whatever is
reasonable or 11pprOpriate to protect Lender's interest .in the Property .and rights under this Security
1nstnImP.T1t, in~ lnnin¡: protecting .and! or .assessing the value of the Property, .and securing .and! or repairing the
hoperty. Lender's .actions am include, but.are :not limited to: (11) paying lIIlY Sl1IDSsecurro by 11 lien which
.has priority over this Security lnstnunent; (b) 11ppearing in court;.and (c) paying reasonable 11ttomeyS' fees to
protect its :interest in the Property .and! or TIghts under this Security lnstnunent, including its secured position
in 11 bankruptcy proceeding. Securing the PIOperty includes, but is :not limited to, :entering the PIOperty to
~ TeplI.Îrs, .change locks, replace m board up doms .and windows, drain w1iter from pipes, dim;n~te
building or other code violations or dangerous conditions, .and bave utilities íw:ned on m off. Although
AM6WY (D311)
'P.age 7 Df 15
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Ltmder may take 1ICÛon under this Secûon 9, I..ender does not l1ave to do so .and is ~ot under llIlY duty or
obligation to do so. It is .agreed that Lender :incurs no liability for ~ot taking .any or all .acûons .authorized
1J.11der ihis Secûon 9.
Any .amounts disbursed by Lender under this Section 9 .shall become .addiûonal debt of Borrower
secured by this Security Instrument. These .amounts .shall bear :interest At the Note rate nom the date of
disbursement llIld shall be pAYAble, with such interest, upon ~oûce nom I..ender to Borrower requesting
}J11yment.
If this Security Instrument is on.a leasehold, Borrower shall comply with all the provisions of the lease.
If Borrower .acquires fee title to 1he lToperty, the leasehold .and 1he fee title .shall ~ot merge unless I..ender
.agrees 10 1he.mergerin writing.
10. Mortgage Insur.ance.If I..ender required Mortgage Insurance AS .a condition of making the LOllIl,
Borrower.shall pay the prp.minm!': required to maintain the Mortgage Insurance in effect. If, for llIlY rea.son,
1he Mortgage Insurance coverage required by Lender ceases to be.avl.l.ÏÙlble nom the mortgAge insurer that
previously provided such insurance .and Borrower wa.s required to .make sepMately designated payments
tow.ard the premiums for Mortgage InsurllIlce, Borrower shall pay the premiums required to obtain coverage
Bllbstantially -equivalent to the Mortgage Insurance previously in effect, .at A cost substantially equivalent to
1he cost 10 Borrower of the Mortgage Insurance previously in effect, from llIl alternate IDortgage insurer
.selected by Lender. If substantially equivalent Mortgage Insurance coverage is not Avllilable, Borrower shall
continue to PAY to Lender the .amount of the sepMately designated payments that were due when the
insurllIlce coverAge ceased to be in effect. Lender will .accept, use .and retain these pAymentS .as .a
JlOJl-r-efu.nillùJle loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable,
~otwithstanding 1he :fuct that 1he Lmm is ultimately paid in full, .and I..ender shall not be required to pay
Borrower any interest or:emnings on such loss reserve. Lender can no longer require loss reserve payments
if Mortgage Insurance. covenlge (in the .amount .and for the period that Lender requires) provided by an
insurer selected by Lender .again becomes .avl.l.ÏÙlble, is obtained,.and Lender requires sepMately design.ated
pAyments tow.ard 1he prP.1T1illm!': for Mortgage Insurance. If I..ender required Mortgage Insurmce .as .a
.condiûon ofmHkiTtl the LOllIl.and Borrower was required to.make separAtely de!':iZJlHtp.n payments toward
the prP.1T1illm!': for Mortgage Insurance, Borrower shall pay the pr~millm!': required to mHintHin Mortgage
In!':llTHn~e in effect, or to provide A ~on-refundable loss reserve, until Lenders requirement for Mortgage
Insurance ends in 1ICconiance with any written .agreement between Borrower llIld L-ender providing for such
1"emniTlHtion or until temninHtionisrequired by Applicable Law. Nothing in ihis Section 10 .affects Borrower's
obligation 10 pay interest .at 1he rate provided in the Note.
Mortgage InsurlUlCe reimburses Lender (or .any entity that purchases the Note) for certain losses it may
:incur if Borrower does not repAY 1he LOllIl as Agreed. Borrower is ~ot .a party to 1he Mortgage Insurance.
Mortgage insurersevlÙuate their total :risk: on all .such im:IJTHn~e in force from time to time, .and may
enter into .agreements with other parties that.share or modify their:risk, or reduce losses. These .agreements
Me on terms .and conditions that Me satisfactory to the mortgage insurer .and the other party (or parties) to
1hese .agrep.mffl'lt!':. These .agreements may require 1he mortgage insurer to .make pAymentS using llIlY source
offunds that 1he mortgage insurer may have .av.ailab1e (which may include funds obtained from Mortgage
.Insurance prp.millm!':).
As.a Iesult of these .agreements, Lender, .any purchaser of the Note, llIlOther insurer, .any IeÌnsurer, llIlY
other entity, or llIlY affiliHtp. of.any of the foregoing, may Ieceive (directly orindirectly) .amounts that derive
zom (or:m.ight be char.acterized .as).a portion of .Borrower's pAyments for Mortgage Insurance, in exchange
:for.sharing or IDOdifying the IDortgage insurer's:risk, or reducing losses. If such .agreement provides that llIl
.a:ffifu1te ofL-ender takes.a share of the insurer's:risk: in exchange for.a share of the prfflTlillm!': paid to the
insurer, the.arrangementis often tenned "capûveIeinsurance."rurther:
(.a) ÀDy Buch .agr~ements will Dot .affect the .amounts that Borrower .has Jigreed to pay for
Mortgage Insur.ance, or .any other terms of the Loan. Such Jigreements will not increase the .amount
:Borrower will owe for Mortgage Insur.ance,.and they will not tmtitle Borrower to .any refund.
AM6WY (~11)
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(b) Any Buch agreements will .not .affect the rights Borrower .has - if JUly - with Iespect to the
Mortgage Insur.ance under the Homeowners ~rotection Act of 1998 or any other law. Tl1ese rjghts
may include the right to receive certain disclosures, to request JU1d obtain cancellation of the Mortgage
lnsurJUl£e, to .have the Mortgage InsurJUlce terminated Jiutomatically, .and/or to receive a refund of
JUly Mortgage InsurJUlce premiums that were nnearned Jit the :time of Buch .cancellation or
termination.
11. Assignment. of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds lire .hereby
liSsigned to.and shall be paid to Lender.
1£ the Property is damaged, such Miscellaneous PIOceeds Bhall be llpplied to restoration or repair of the
Property, if the restoration or repair is economically feasible .and Lender's security is not lessened. During
BUch repair .and restoration period, Lender shalll1ave the right 10 -hold such Miscellaneous Proceeds until
Lender .has .had llIl opportunity 10 inspect such Property 10 ensure the work.has been completed 10 Lender's
satisfaction, pIOvided that such mspection shall be un.dertalœn promptly. Lender may pay for the repairs .and
restoration in II single disbursement or in II series of progress payments .as the work is completed. Unless llIl
llgreement is made in writing or Applicable l..aw requires interest 10 be paid on such Miscellaneous
Proceeds, Lender shall not be required 10 pay Borrower llIlY interest or earni:ngs on such Miscellaneous
J>IOceeds.l£ the restoration or repair is not economically feasible or Lender's security would be lessened, the
Miscellaneous Proceeds shall be llpplied 10 the sums Becured by this Security lnstrument, whether or not
1he:n .due, with the excess, if llIlY, paid 10 Borrower. Such Miscellaneous Proceeds shall be llpplied in the
order provided for.in Section2.
J:n the event of II total1ak1ng, destruction, or loss in v.a1ue of the Property, the Miscellaneous Proceeds
.shall. be llpplied 10 the BllIIlS secured by this Security Jnstrument, whether or not then .due, with the excess, if
.any, paid 10 Borrower.
In the event of II partial1ak1ng, destruction, or loss in value of the Property in which the fair .market
value of the Property .immediately before the partial1ak1ng, destruction, or loss.in v.a1ue is equal 10 or greater
than the .amount of the sums secured by this Security 1nstrument immediately before the partial 1ak1ng,
ili:struction, Dr loss.in v.a1ue, unless Borrower .and Lender otherwise .agree in writing, the sums secured by
this Security l:nstrument shall be reduced by the .amount of the Miscellaneous Proceeds :multiplied by the
following :fraction: (a) the total .amount of the . sums secured immediately before the partial 1ak1ng,
ili:struction, or loss .in v.a1ue .divided by (b) the fair .market value of the Property immediately before the
partial1ak1ng, destruction, or loss in v.a1ue. Any balance shall be paid 10 Borrower.
1n the event of II partial1ak1ng, destruction, Dr loss in value of the Property .in which the fair .market
value of the PIOperty immediately before the partial :taking, destruction, or loss.in value is less than the
mnount of the sums secured ;mm~diately before the partial 1ak1ng, destruction, or loss in v.a1ue, unless
]3mrower .and Lender otherwise .agree in WIiting, :the Miscellaneous PIOceeds shall be llPplied to the sums
Becured by this Security 1nstrument whether or.:not the sums lire then due.
]f the Property is .abandoned by Borrower, or it: .after .:notice by Lender 10 ]3orrower that the Opposing
J>.arty (as defined.in the:next sentence) offers to:make an llwllfd to settle II claim for damages, Borrower fails
10 respond to Lender within 30 days .after the date the .notice is given, Lender is .authorized to collect and
llpply the Miscellaneous Proceeds either to restoration or repair of the Property or 10 the BllIIlS secured by
this Security lnstrument, whether or ::not then .due. "Opposing Party" :means the third party that owes
]3mrower Miscellaneous Proceeds or the party .against whom Borrower .has II right of llCtion .in regard 10
MiscellaneousPIOceeds.
Borrower shall be.in.default if llIlY llCtion or proceeding, whether civil or crimin!11, is begun that, in
Lender's judgment, could result in forfeiture of the Property or other material.impainnent ofLender's.interest
in 1heProperty orD.ghts under this Security 1nstrument. Borrower .can L:ure such ll.default.and, if .acceleration
l1as occurred, rci:nstate liS provided.in Section] 9, by L:aUsing the.action or proceeding to be .dismissed with II
TIlling that, in Lender's judgment, precludes forfeiture of the Property or other:material .impainn.ent of
Lender'sintert:St.intheProperty or rights under1his Security l:nstrument. The proceeds ofllIlY llwllfd or claim
:for Damages that lire .attributable 10 the imp!11nnent of Lender's interest .in the Property lire .hereby .ass~
.and shall be paid 10 Lender.
AM6WY (0311)
P.age9Df15
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All Miscellaneous Proceeds that .are not .applied to restoration or repair of the ;Property shall be .applied
jn the order provided for jn Section2.
11. Borrower Not .Released; Forbear.ance By Lender Not .a Waiver. Fxt~m;Íon of the time for
payment or modiflCation of .amortization of the sums secured by this Security Instrument granted by Lender
10 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 required to commence proceedings .against any
Successor in .Interest of Borrower or to refuse 10 extend time for payment or otherwise modify .amortization
of the sums secured by this Security .Instrument by reason of .any demand made by the original Borrower or
..any Successors jn .Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
including, without limitation, Lenders .acceptance of payments from third persons, t:ntities or Successors in
Jnterest 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 Sever.al Liability; Co-Bigners; Successors .and Assigns Bound. Borrower covenants
..and .agrees that Borrower's obligations and liability Wll be joint.and several. .However, any Borrower who
.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-signers interest.in the Property under the
1enns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
.Instrument;..and (c) .agrees that Lender ..and .any other Borrower can .agree to extend, modify, forbear or make
..any .accommodations with regard to the tenns of this Security Instrument or the Note without the co-signers
.consent.
Subject to the provisions of Section 18,.any Successor .in .Interest of Borrower who.assumes Borrower's
obligations under this Security Instrument in writing, .and is .approved by Lender. Mall obtain .all of
Borrower's :rights ..and benefits under this Security Instrument. Borrower Mall .not be released from
Borrower's obligations .and liability under this Security .Instrument unless Lender .agrees to such release .in
writing. The covenants .and .agreements of this Security Instrument Mall bind (except as provided jn Section
.20) ..and benefit the successors .and .assigns of Lender.
14. Lo.an Charges. Lender may charge Borrower fees for services perfonned in connection with
Borrower's .default, for the pmpose of protecting Lender's interest jn the Property and rights under this
Security .Instrument, including, but .not limited to, .attorneys' fees, property inspection .and valuation fees. .In
regard to..any other fees, the .absence of :express .authority in this Security Instrument 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 Security Instrument or by Applicable Law.
1f the Loan is subject to .a law which sets m:n:imnm loan charges, .and that law is.finally inteIpreted so
that the interest or other loan charges .collected or to be collected .in connection with the Lo.an exceed the
permitted limits, then: (a) .any such lo.an charge shall be reduced by the .amount necessary to reduce the
charge to the permitted limit;..and (b) .any sums .already collected from Borrower which exceeded permitted
limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
under the Note or by ml'lkinr; .a direct pllyment to Borrower.lf .a refund reduces principal, the reduction will
be treated as .a partial prepayment without ..any prepayment charge (whether or .not .a prepayment charge is
provided for under the Note). Borrower's .acceptance of ..any such refund made by wect payment to
Borrower will constitute a waiver of .any right of .action Borrower .might have arising out of such overcharge.
15. Notices. All.notices given by Borrower or Lender .in connection with this Security Instrument must
be.in writing. Any .notice 10 Borrower .in connection with this Security Instrument Mall be deemed to have
been given to Borrower when mailed by fust class mail or when .actually .delivered to Borrower's .notice
.address if sent by other means. Notice to .anyone Borrower shall constitute .notice to .all Borrowers unless
Applicable Law expressly requires otherwise. The .notice .address shall be the Property Address unless
Borrower .has designated .a substitute ..notice .address by .notice to Lender. Borrower ~ promptly .notify
Lender of Borrowers change of .address.1f Lender specifies .a procedure for reporting Borrowt:r's change of
.address, then Borrower ~ only report.a change of .address through that specified procedure. There may be
only one Designated .notice .address under this Security Instrument 11t.any one rime. Any .notice to Lender
~ be giVt:Il by rlelivering it or by ml'lilin£ it by fust class mail to Lender's .address stated herein unless
AM6WY (0311)
p.age 10 of 15
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Lender .has designated another Jlddress by notice to Borrower. Any notice in connection with this Security
lnstrument.shall not be deemed to have been given to Lender until.actually received by Lender. If lUly notice
required by 1his Security lnstrument is lÙsO required under Applicable Law, the Applicable Law requirement
will satisfy the corresponding requirement under this Security .Instrument.
16. Governing Law; Sever.ability; Rules of Construction. This Security.Instrument.shall be govemed
by fedemllaw .and the law of the jurisdiction in which the .Property is located. All rights .and obligations
contaim~d in this Security lnstrument.are subject to any requirements .and limitations of Applicable Law.
Applicable Law .might aplicitly or implicitly allow the parties to Bgree by contract or it.might be silent, but
such .silence .shall not be construed .as 11 prohibition llgaIDst llgI"eement bycontra.ct. In the event that lUly
provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict .shall
not 11ffect other provisions of 1his Security lnstrument or the Note which can be given effect without the
conflicting provision.
As :used in 1his Security Instrument: (11) words of the ID1lSculine gender .shall mean .and include
corresponding :neuter words or words of the ffflTlinin~ gender; (b) words ill the .singular shall mean .and
include the plunù .and vice Ver81l; .and (c) the word '~y" gives sole discretion without lUly obligation to take
.any llCtion.
17.Borrower's Copy. Borrower .shall be given one copy of the Note.and of this Securitylnstrument.
18. Tr.ansfer of the Property or a Bpnf"fidallnterest in Borrower. As used in this Section 18,
""lnterest in the .Property" means lUly leglli or beneficial interest in the .Property, including, but not limited to,
!hose beneficial interests trnnsferred in li bond for deed, contra.ct for deed, installment sales contra.ct or
escrow llgI"eement, the intent of which is the transfer of title by Borrower l1t 11 future date to li purchaser.
If all or .any p1U1: of the .Property or 1Uly 1nterest in the .Property is sold or transferred (or if Borrower is
not li naturlli person .and li benefida] interest ill Borrower is sold or tTam:ff'TT"ed) without lender's prior
written consent, Lender may require immediate p1lyment in full of all sums secured by 1his Security
lnstrument. Bowever, 1his option .shall not be exercised by Lender if such exercise is prohibited by
Applicab1eLaw.
1f Lender exercises 1his option, Lender .shall give Borrower notice of .accelenJ.tÏon. The notice .shall
prov.i.de 11 period of not less :tllim 30 LÙlyS from the LÙlte the notice is given in llCcordance with Section 15
within which Borrower must pl1yall sums secured by this Security lnstrument.1fBorrower fails to pay these
sums prior to the -expimtion of:this period, Lender may invoke .any remedies pennitted by· this Security
1nstnunentwithoutfurthernotice or demanc1 onBorrower.
19. .Borrower's Bight to .Reinstate After Acceleration. 1f Borrower .meets œrtain .conditions,
Borrower .shall have the right to have enforcement of this Security.Instrument discontinued lit .any time prior
10 the earliest of: (11) five days before sale of !he .Property pursuant to .any power of sale contained ill 1his
Security lnstrument; (b) such other period .as Applicable Law might specify for the termination of
Borrower's right to reinstate; or (c) entry of 11 jl]rlzm~nt woreing this Security lnstrument. Those conditions
lire that Borrower: (11) Pl1YS Lender all sums which then would be .due under this Security lnstrument.and the
Note.as if no .acceleration.had occurred; (b) cures.any rlefault of any other coverumts or ligreements; (c) pays
all expenses incurred in enforcing this Security lnstrument, lnc!mHnz, but not limited to, reasonable
.Jrttomeys' fees, property inspection and valuation fees, .and other :fees incurred for the purpose of protecting
Lender's mterest in the .Property .and rights under:this Security lnstrument; .and (d) takes such llCtion 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
lmc.hanzed. Lender may require that Borrower p1ly such reinstatfflTlffl1t sums .and ~penses in one or more of
!he £ollowing fonns, .as selected by Lender: (11) cash; (b) money order; (c) certified check, bllIlk check,
1reasurer's check or c.ashier's .check, prov.i.ded .any such check is dI1lWll upon lUl institution whose deposits
lire insured by li federlli .agency, instrumentality or t:ntity; or (d) Electronic "Funds Transfer. Upon
:reinstatfflT\~nt by.Borrower, 1his .security .Instrument .and obligations secured hereby .shall remain fully
:effective .as if no .acceleI11tion.had occurred. Bowever, 1his right to reinstate sba1lnot .apply ill the .case of
.acceleI1ltion under Section 18.
AM6WY (0311)
Page 11 JJf 15
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20. Sale of Note; Change of Loan Servicer; Notice of GrievJUlce. The Note or 11 partial interest .in the
Note (together with this Security Instrument) can be sold one or more times without prior notice to
Borrower. A sale might result .in 11 change in the entity (known. as the "'Loan Servicer") that collects Periodic
.P11yments due under the Note and this Security Instrument and perfonns other mortgage loan servicing
obligations under the Note, this Security lnstrument, and Applicable Law. There .also might be one or more
.changes of the Loan Servicer unrelated to .a sale of the Note. 1£ there is.a change of the Loan 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 information RESP A requires .in
connection with.a notice of transfer of servicing. IT the Note is sold and thereafter the Loan is serviced by 11
Loan Servicer other than the purchaser of the Note, the mortgage loan servic.ing obligations 10Borrower will
Iema1n with the LoanServicer or be tr.ansferred to a successor Loan Servicer and are not assumed by the
Note purchaser unless otherwise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join. Dr be joined tD .any judicial .action (l1S either .an
individual litigant or 1he member of 11 class) that .arises from 1he Dther party's .actions pursuant1D this
Security lnstrument or that .alleges that the other party lIas breached.any provision of, or .any duty owed by
Ieason of, this Security .Instrument, until such Borrower Dr Lender has notified the other party (with such
Jlotice given .in compliance with the requirements of Section 15) Df such alleged breach .and .affDrded the
other party .hereto a reasonable periDd .after the giving of such notice to take corrective .action. If Applicable
Law provides .a time periDd which IDUSt elapse before certain .action can be íaken, that time periDd will be
deemed tD be reasonable fDr purposes of this par.agraph. The notice Df .acceleratiDn and DPPortunity 10 cure
given 1D BorrDwer pursuant tD Section 22 .and the notice Df .acceleration pven 10 Borrower pursuant 10
Section 18 ..shall be deemed 10 satisfy the JlDtice and opportunity to take corrective .action provisions of 1his
Section 20.
21. :Hazardous Bubstances. As used .in this Section 21: (a) ''Hazardous Substances" are thDse
BUbstances defined as 10xic or l1azardous substances, pollutants, or WllStes by Envirnnm~ntll 1 Law .and the
following .substances: gasoline, kerosene, other flllmmllhle or toxic petroleum products, toxic pesticides .and
-.herbicides, volatile solvents, materialscnntllininf .asbestos or fonnaldehyde,.and r.adioactive IDllterials; (b)
''Envirnnm~ntlllLaw'' means fedenù laws .and laws of the jurisdiction wh.erethe J>roperty is located that
relate to l1ealth. .safety or envirnnmfflltlll protection; (c) ''Envirnnm~nt~1 Cleanup" includes .any response
.action, remedial .action, or removal .action, .as defined .in Envirnnm~ntll I Law; .and (d) .an ''Environmental
Condition" means .a condition that can cause, contribute to, or otherwise trigger .an Environmental Cleanup.
Borrower .shall Jlot cause or pennit 1he presence, use, Æsposal, storage, Dr release of any Hazardous
Substances, or threaten 10 Ielease any Hazardous Substances, on or.in the J>roperty. Borrower .shall not do,
~or .allow .anyone -else to .do, .anything .affecting 1he J>roperty (a) that is.in violation of any Envirnnmtmtlll
Law, (b) which creates anEnvirnnm~ntlll Condition, or (c) which, due 10 the presence, use, orrelease of.a
Hazardous Substance, .creates .a condition that .adversely .affects the value of the .Property. The preceding two
sentences ..shall Jlot .apply 10 the presence, use, or stor.age on the J>roperty of.small quantities of Hazardous
Substances that.are generally recognized to be .appropriate to normal residential uses .and 10 maintenance of
the.Property (including, but not limited to,l1azardous substances.in consumer products).
Borrower .shall promptly give Lender written .notice of (.a) any investigation, claim, rl~mllnrl,lawsuit or
other .action by .any governmental or regulatory .agency or priv.ate party .involving 1he Property .and .any
Hazardous Substance or EnvirnnmtmtllI Law of which Borrower has .actual .knowledge, (b) .any
Envirnnmtmtll I Condition, inclllrlinz but Jlot limited 10, .any spilling, leaking, Æscharge, release or threat of
release of .any Hazardous Substance, and (c) .any condition caused by the presence, use or release of 11
Hazardous Substance which .adversely .affects the value of the PIOperty. If Borrower learns, or is Jlotified by
.any governm~ntHI orregulatoI)' authority, or .anypriv.ate party, that.any remov.a1 or otherr~m~nilltion of .any
:Hazardous .substance .affecting the PIOperty is necessary, Borrower ..shall promptly take .all necessary
Iemedial .actions in .accordance with EnvirnnmtmtHlLaw. Nothing l1erein shall create any obligation on
lender for .an Envirnnmtmtll 1 Cleanup.
AM6WY (D311)
D142695 022 -5590
01/10/2006 9:53:56
~
PJlge 12 of 15
InitiaJs~'···/'þ
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D00001426950220301621612
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NON-DNIFORM COVENANTS. .Borrower .and Lender further covenant 1U1d agree.as follows:
. ""-.ir'~3
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22. .Acceler.ation; :Remedies. Lender sh.all give notice 10 Borrower prior 10 ~ccelenltion following
:Borrower's breach of JUly covenant or jlgreement .in 1his Security Instrument (but not prior 10
~cceler.ation under Section 18 unless Applicable Law provides otherwise). The notice .shall specify: (a)
the default; (b) the ~ction required 10 cure the default; (c).a .date, not less than 30 .days from the.date
the notice .is given 10 Borrower, by w.hich the default must be cured; and (d) that failure 10 cure the
default on or before the .date specified in the notice may result.in jlcceler.ation of the sums secured by
1his Security Instrument .and sale of the Property. The notice .shall further inform Borrower of the
right to reinstate after .acceler.ation.and the right 10 bring.a court .action 10 .assert 1he non-existence of .a
default or JUly other defense of Borrower to JlCCeler.ation .and we. 1f the default .is not cured on or
before the date .specified in :the notice, Lender 11t its option may require .immediate payment in full of
..all sums :secured by 1his Security Instrument without further demand .and may invoke the power of
ule .and JUly other remedies permitted by Applicable Law. Lender .shall be£Iltitled 10 collect .all
,expenses .incurred.in pursuing the remedies provided..in 1his Section 22, indnding, but not limited 10,
..reasonable .attorneys' fees.and costs of title ~vidence.
]f Lender .invokes :the power of sale, Lender .shall give notice of .intent 10 foreclose to Borrower
..and 10 the person.in possession of the Property, if different, .in 11ccor1Ìance with Applicable Law.
Lender .shall give notice of the sale to Borrower .in the rnann(>T provided in Section 15. Lender .shall
publish the notice of sale,.and the Property.shall be sold.in the rnannf'r prescribed by Applicable Law.
J ,f'ndpr or its .designee may purchase the Property .at JUly sale. The proceeds of the sale.shall be .applied
.in the following order: (a) 10 .all expenses of the we, including, but not limited 10, reasonable
..attorneys' fees; (b) 10.all sums secur~d by this Securitylnstrument; JUld (c) JUly excess to the person or
persons legally £Iltitled to iL
23. Release. Upon payment of.all sums secur-ed by 1his Security lnstrument, Lender .shall release 1his
Security 1nstrument. ..Borrower .shall pay .any recordation costs. Lender may charge .Borrower a .fee for
.Ip.lp.R~inE this Security lnstrument, but only lithe fee.is paid to.a third pmy.for services rendered.and the
.charging of the fee.is pennitted under Applicable Law.
24. W.aiVa"S. Borrower releases.and wIDves.all rights under .and by virtue of the .homestead -exemption
laws of Wyoming.
AM6WY (0311)
P.age 13 Df 15
I~~
~ Form 3051 1/01
Dl42£95D22 -559D
Dl/1D/2DD6 9:53:56
11111i~\llfh.mIJiIIIII
000001426950220301621613
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:BY .sIGNING RELOW, :Borrower 1I.Ccepts and agrees 10 the terms .and COVíID.!IIlts contained ill this
Becurity instrument.and ill.any Rider executed by :Borrower .and recorded w:iíh it.
Witnesses:
(Seal)
-Bom>wer
(Seal)
-Bom>wer
(Seal)
-Bom>wer
AM6WY (D311)
01/10/2006 9:53:56
~
·~(Seal)
-Borrower
~~~
. .. ~~
~-;;{ 1'/ / /,:( L
// . ~/~. (Beal)
. ' BI.sRI -Borrower
P.age 14.of 15
(Seal)
-Borrower
(Beal)
-Borrower
(Beal)
-Borrower
0142695022 -5590
Fonn 3D51 1/D1
1IIIIIIJ~lm'WIIIIII
D00001426950220301621614
STAJE OF WYOMING,
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Lincoln County 55:
The forßgoing instrument was acknowledged before me this 111:h lÙiy o£ JanuaIJbýW06
Day/MonthlYœr
Jd£rey G. Nishi and Jo LiDn Nishi
My Commission Expirßs: 10-2-07
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¡' " -1~.:.¡;¡áŠTÃFFO;~l). ".:-NòTAR... Y P. UB.L 'C..d· . '.
COUNlY Of STATE (f
LINCOlN W'l0MNG
My COlllIT'issicn ExpifèS ~t O,.:2':~:S_.,.,
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000001426950220301£21615
-4D0-15WY {41D2)
rll~illl1~ill~jJ~
P.age 15Df15
0142695022-5590
01/10120069:53:56 AM
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The BomhHalf afLot ¡. :of131ock24 of the :First Addirion :to the Town cl"Kf'.:m'TtJerer, Lincoln
'County, W.YOming more pm1Ícubrly nescrlbed.as -follows:
J3c,ghming 1lt:tlJb So1.1the3st.comer of.said Lotl iiIUbuDnÎDE!hence.s 630-.26'W. 99.99 :feer;
1hcnœN26~' W~ 7D.Ofeet;1bence N 63"'26' E, 74.99:feet;1:hcnccB46°13'E. 74.33£eet101he
:point mbegiJm~.
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"REF 1 HANc£ 1'\OR
0142695022
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US ~ecordi"gs
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