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HomeMy WebLinkAbout916010 Prepared by: Wells Fargo Financial, Inc. 604 Locust Des Moines, Iowa 50309 f'0n~oc: RECEIVED 2/15/2006 at 12:55 PM RECEIVING # 916010 BOOK: 612 PAGE: 385 JEANNE WAGNER LINCOLN COUNTY CLERK, KE~~:~~~~.~_~ -- ---------- Return to: WELLS FARGO FINANCIAL. WYOMING. me. 2441 FOOTHILL BLVD, 1243 ROCK SPRINGS, WY 82901 MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 9, 11, 16, 18 and 19. Certain rules regarding the usage of words uscd in this document are also provided in Section 14. (A) "Security Instrumcnt" means this document, which is dated ._._In/08lQ6______ , together with all Riders to this document. (B) "Borrower" is QQì'{R,- WAL l~Ç)_NAN.D_l>ENlÇ.E W ALIŒ'{.___ ~__ _..__ __ _____~_ __ , - -----"---.--------, -..--". --.--'-'.------ -- - --- -"--~--_._- ----------,,-,--,. "'--"- .- ---------,-_. .-...---'------------ -,,/ Borrower is the mortgagor under this Security Instrument. (C) "Lender" is Wells Fargo Financial Wyoming, Inc. Lender is a corporation organized and existing under the laws of Wyoming. Lender's address is 2A11 YººJH1U,J3LYPLlf.4J___._._ ROCK SPRINGS, WY 8_2901 ._ .. . Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by B()tTower and· dated '. ___ OY9~06_ _ _____. The Note states that Borrower owes Lender $ L!.?~16}J _~____JlJ.S. Dollars) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the deb1 in full not latcr than __. .91LUL!º______ (E) "Property" means the propelty that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Secmity Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box asappJicable): -- --'.----- -----,- ----.--.'-- - ---------,.-.,_ _-_ _·_________n_._________._ .r¡ i D Adjustable Rate Rider [] Balloon Rider o 1-4 Family Rider [=: Condominium Rider rJ Planned Unit Development Rider rJ Biweekly Payment Rider [J Second Home Rider [] Other(s) [specify] (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessmcnts" means all dues, fees, assessments and other charges that are imposed on Bon'ower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other tban a transaction originated by check, draft, or similar paper instrument, which is lIlitiated through an electronic tel111inal, telephonic instrument, computer, or magnetic tape so as to order. instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-or-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse 11111111111111111111111111111111111111111111111111 79294577 Page 1 or 9 WY·2029-1005 r:¡::~:~~!:: ::::::::~ !illmill~~~õI :::::r~~~ :~:~:~~:~~:~:¡:: :~:: : n9~; ~_~r;~ 0 -lJ . . ~ c.1 "U ..A. [" (' r~ 3·' 8 O~. \"0· ~..., '- . transfers. (K) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 4) 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. (L) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on. the Loan. (M) "Periodic Payment" means the reg1l1arly scheduled amount due for principal and interest under the Note. (N) "RESP A" means the Real Estate Settlement Procedures Act (12 D.S.C. §260 I et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that govems the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan docs not quaJify as a "federally related mortgage loan" under RESPA. (0) "Successor in [nterest of Borrower" means any party tha! has takcn title to the Propel1y, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perf0l111anCe of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, BOITower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of salc. the following described property located in the________ÇQUNJ'y_____ ____ of ___._.___l~JNCOL~______ [Type of Rccording Jurisdiction] [Name of Recording Jurisdiction] The Description of Property is attached hereto as "Addendum A to Mortgage Description of Property" and is specificnlly incorporated herein. which currently has the address of _.___._____.____1~.L~L1\.Q1S0N STREEI______-_ . [Street]' AFTQN____ _ __ .. ._...._._ , Wyoming u._..8JUº-___ ("Property Address"): [Cityl [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appU11enances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Secmity Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Ronower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifonTI covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering real property. UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and LateCharges. 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. Payments due under the Note and this Security Instrument shall be made in U.S. currcncy. Howcver, if any check or otber instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the foìlowing fonTIs, as selected by Lender: (a) cash; (b) money order; (c) certified 1111111 1111111111 1111111111111111111111111 11111111 79294577 Pago 2 of g WY·2029·1005 I.. ~~. rc.,'~ çOl0 ~,J._, .,~ u CGC387 check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. 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) fees and charges due under the Note; (b) interest due under the Note; and (c) principal due under the Note. Such payments shall be applied to each Periodic Payment in tbe order in which it became due. Any remaining amounts shall be applied first to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. Any application of payments, insuranec 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. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, alld Community Association Dues, Fees, and Assessments, if any. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such 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 proceedings are concluded; or (c) secures from the holder of thc lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Bon'ower 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 3. Lender may require Bon"ower to pay a one-time charge f'or a real estate tax verification and/or repoliing service used by Lender in connection with this Loan. 4. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, ealihquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and f'or the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the telìT1 of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Bon-ower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay. in connection with this Loa.n, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone detelìT1ination and certification services and subsequent chal'ges each time rcmappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federa] Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Bon"ower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect BOlTower, Borrower's equity in the Property, or the contcnts of the Propeliy, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Bon'ower could have obtained. Any amounts disbursed by Lender under this Section 4 shall become additional debt of BOlTower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable. with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shaH be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mOligagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, B01Tower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any f0l111 of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Propel1y. such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional Joss payee, In the event of loss. Bon"ower shall givc prompt notice to the insurance can-ier and Lender, Lender may make proof of loss if not made promptly by BOlTower. Unless Lender and Borrower otherwise 11111111111111111 1111111111111111111111111 11111111 79294577 Pago 3 of 9 WY -2029-1005 '::;1~::::f.:~*!*: t 1:~~~!M~~1~~1, ~~*:*::::¡:¡::~~ '¡. ¿I~~t.¡IIII·;· ¡.·,' -......,....1"....1,..-' ':,,",-') .C.fll0 ~J .:;'.<LÙU Q~~ agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for tbc 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 requires interest to be paid on such insurance proceeds. Lender shall not be required to pay Borrower any interest or eamings on such proceeds. Fees for public adjusters, or other third parties, retained by BOlTower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If BOlTower abandons the Propel1y, Lender may file, negotiate and setile any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice fi-om Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 3D-day period will begin when the notice is given. In either event, or if Lender acqUires the Property under Sèction 20 or otherwise, Borrower hereby assigns to Lender (a) BOITower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of BOITower's rights (other than the right to any refund of uneamed premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the 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. S. Occupancy. Borrower shall occupy, establish, and use the Property as Bon"ower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residencc for at least one year after the datc of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are bcyond BOlTower's control. 6. Preserv~tion, M:lÍntenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Propeliy to deteriorate or commit 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 determined pursuant to Section 4 that repair or restoration is not economically fcasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or dumage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Bon'ower shall be responsible for repairing or restoring the Property only i r Lender has released proceeds for such purposes. 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. If the insurance or condcmnation proceeds arc not sufficient to repair or restore the Propel1y, Bon"ower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Propeliy. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 7. 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 Bon"ower's knowledge or consent gave materially false, misleading, or inaccurate infol1T1ation or statements to Lender (or failed to provide Lender with material infol1nation) in connection with the Loan. Material representations include, but are not limited 10. representations concerning Bon'ower's occupancy of the Property as Borrower's principal residence. 8. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perf 01111 the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcemcnt of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) BO\1"ower has abandoned thc Propeliy, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interesl 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) 1111111 11111111111111111111111111111111111 11111111 79294577 Page 4 of 9 WY-2029-1005 .. (r "":)~ð . , . .::> g ...J paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying Reasonable Attorneys' fees to protect its interest in the Property and/or rights under this Security Instrumcnt, 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 from pipes, eliminate building or other code violations or dangerous conditions, and have utilities tlll1led on or off. Although Lender may take action under this Section 8, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 8. Any amounts disbursed by Lender under this Section 8 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Bon'ower requesting payment. If this Security Instrument is on a leasehold, Bon-ower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Propeliy, the leasehold and the fee title shall not merge unless Lender agrees to thc merger in writing. 9. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender, If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Propeliy, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in II single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interestto be paid on such Miscellaneous Proceeds, Lender shall not be required to pay BOlTower any interest or earnings on such Miscellaneous Proceeds. [f the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this SecUlity Instrument, whether or not then due, with the excess, if any, paid to BO!Tower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Propeliy immediately before the pal1ial taking, destruction, or Joss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Bon'ower and Lender othelwise agree in writing, the sums secured by this Security Instrument 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 taking, destruction, or loss in value divided by (b) the fair market value of the Propeliy immediately before the pmiial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the pal1ial taking, destruction, or Joss in value is less than the amount of the sums secured immediately before the pa11ial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Procecds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by 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 date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Propeliy or to the sums secured by this Security Instrument, whether or not Ihcn due. "Opposing Party" means the third party that owes Bon'ower Miscellaneous Proceeds or the pal1y against whom Bon·ower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action orproceeding, whether cìvil or climinal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impaim1ent of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 17, by causing the action or proceeding to be dismissed with aruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Propel1y or lights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impaim1ent of Lender's interest in the .1' 'C ..~ en 10 .J ..J -'::"'Ü'U 1111111 1111111111 111111111'1111111111111111 11111111 79294577 Page 5 of 9 WY·202g·1005 ·:~~;::'~'~;:!~¡î~ f '.'!!j~!i:'~(~) '~ {~~¡¡¡~mmm~r t¡:i!~mI¡~~¡~i~lW~lifl " ,;' " !~ ,f-l0 \41i':.:.<__üÙ ,'" .r. .... ....., O~' ;,"7.. . .: .: j t'.r .~ , " Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 10. Borrower Not Released; Forhearanee By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Bon'ower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Bon'ower or any Successors in Interest of Bon·ower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of BOITower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 11. Joint and Severnl Liahility; Co-signers; Successors and Assigns Bound. Bon'ower covenants and agrees that Borrower's obligations and liability shall 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-signer's interest in the Property under the ten11S 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 terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 16, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of BOITower's rights and benefits under 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 writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 18) and benefit the successors and assigns of Lender: 12. Loan Charges. Lender may charge Bon-ower fees for services performed in connection with Borrower's default, for the plllvose of protecting Lender's interest in the Propeliy and rights under this Security Instrument, including, but not limited to, attorneys' fees, propeJiy inspection and valuation fees. [n 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. If the Loan is subject to a law which SelS 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 permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums 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 making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Notc). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action BOlTower might have arising out of such overcharge. 13. Notices. All notices given by Bon-ower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable L.aw expressly requires otherwise. The notice address shall be the Property Address unless Bon-ower has designated a substi lute notice address by notice to Lender: Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or bymailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not bc deemed to have been given to Lender until actually received by L.ender. If any notice ¡-equired by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 14. Governing Law; Severahility; Rules of Construction. This Security mstrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rignts and 11111111111111111111111111111111111111111111111111 79294577 F'age 6 or 9 WY-2029·1005 '" .~ Ü':::~'~6Gl0 O~(")91 1 ! . _ t . bl" . d' h· S . I b· . d I- '.. f o IgatlOns contall1e In t IS ,ecunty nstTument are su ~ect to any requm:ments an' Imitations 0 Applicable Law. Applicable Law might eXplicitly or implicitly allow the parties to agree by contract or it might be silent, but such 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 other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include con-esponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 15. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 16. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 16, "Interest in the Property" means any legal or beneficial interest in the PropCliy, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transfen'ed (or if Bon-ower is not a natural person and a beneficial interest in Borrower issold or transferred) without Lender's prior written consent, Lender may require immcdiate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. I f Lender exercises this option, Lcnder sha II gi vc Borrower notice of accderation. The notice shall provide a period of not less than 30 days fwm the date the notice is given in accordance with Section 13 within which Bon-ower must pay all sums secured by this Security Instrument. Jf Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrumcnt without further notice or demand on BOITowcr, 17. Borrower's Right to Reinstate After Acceleration. If Bon-ower meets celiain conditions, Borrower shall have the right to have cnforcement of this SecUlity Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Propel1y pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the tem1ination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrùment and the Note as if no acceleration had occurred; (b) cures aí1Y default of any other covenants or agreements; (c) pays all expenses incuITed in enforcing this Security Instrument, including, but not limited to, Reasonable Attorneys' Fees, propeliy inspection and valuation fees, and other fees incun'ed for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to ass,ure 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. Lender may require that BOITower pay such reinstatement sums and expenses 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 any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Bon'ower, this Security Instrument and nbligations secured hereby shall remain fully effective as if no accelcration had occurred. However, this right to reinstate shall not apply in the case or acceleration under Section 16. 18. Sale of Note; Change of Loan ServiceI'; Notice of Grievancc. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Bon-ower. A sale might result in a change in the entity (known as the "Loan Servicer") that col1ects Periodic Payments due under the Note and this Security Instrumcnt and performs other mOligage loan servicing obligations under the Note, this Security Instrument. and Applicable Law. There also might be one or more changes of the Loan ServiceI' unrelated to a sale of the Note. If there is a change of the Loan ServiceI', Borrower will be given written notice of the change which will state the name and address of the new Loan ServiceI', the address to which payments should be madc and any other information RESPA requires in conncction with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan ServiceI' other than the purchaser of the Note, the mOligage loan servicing obligations to Borrower will remain with the Loan ServiceI' or be transfelTed to a successor Loan ServiceI' and are not assumed by the Note purchascr unless otherwise provided by the Note purchaser, 19. Hazardous Substances. As used in this Section 19: (a) "Hazardous Substances" are those 1111111 11111111111111111111111111111111111 11111111 79294577 Pag. 7 of9 WY -2029·1005 ¡1ilim¡Iili1kt¡ :~~: :~j~lm~i~r:~ilim~i J' .1' .':1 ~... ,"' 111, ~r.~. _:. '0 '.J' 'lJi 000392 substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or f0l11laldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Propel1y is located that relate to health,safcty or environmental protection; (c) "Environmental Cleanup" includes any response action, rcmcdial action, or removal action, as defincd in Environmental Law; and (d) an "Environmental Condition" means a condition that can Clluse, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Propeliy (a) thllt is in violation of any Eiwironmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substancc, 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 small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Prope11y (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or othcraction by any govel11mental or regulatory agency or private party involving the Propel1y and any Hazardous Substance or Environmental Law of which BCHTower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release orany Hazardous Substance, and (c) any condi tioncaused by the presence, use or release 0 fa Hazardous Substance which advcrsely affects the value of the Property. If BOITower learns, or is notified by any govemmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting thc Property is necessary, Bon'ower shall promptly t'ake all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 20. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Securit)' Instrument (but not prior to acceleration under Section 16 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale, If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 20, including, bu1 not limited to, Reasonable Attorneys' Fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclosure to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 13. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 21. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this SecU1;ty Instrument. Borrower shall pay any recordation costs. Lender may charge BOlTower a fee for releasing this Security Instrument, but only if the fce is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 22. Waivers. Borrower rclcascs and waivcs all rights under and by virtue of homestead exemption laws of Wyoming. 1111111 1111111111 111111111111111111111111111111111 79294577 Page 8 019 WY ·2029,' 005 .. ~~·c.';' tf~~{J10 _ _ _~"-lii 00-(1393 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by BOll'OWer and recorded with it. BO~TO 1 __ ___ _g___IIl.~__ (Seal) 00 ' It WALTON Bon;'(jr ... OË~-áJ~U~ (Seal) Borrower --.-- '-_._-,~-,------_.,------._-,--------- (Seal) Borrower .._-, ...,.....,'-'-------.-..-.-:.- '- ,-,. -----,---,-- -~--- ------. (Seal) [Space Below This Line For Acknowledgment] STATE OF WYOMING County of -~~--utwatûy- ~ _.u __ __ The foregoing instrument was acknowledged before me this _ -Ø-~_díi~_J1t__f~ULL~ ~Wl¡ byJ2U11--tL.Wttl11M-l114dJJ:C11JLc'_WLlJ Í1l11-_______----- _'- ____ . (SEAL) JESSICA l. BROOKS. NOTARY PUBLIC COUNTY OF A STATE OF SW.EETWATER _ WYOMING M CorT111issio." Expir9~ IJ-2.lo'21rf' . '. ~~.r.~'l:ttJ¡'.....~ 11111111111111111111111111111111111111111111111111 79294577 í)age 9 of 9 WY·2029·100S ~i·;t,~;I.f"i~(j r¡ ·;· t ·...·...·Jlj~.¡ j~...'. ..' ~~~~~~;:~:j ~~~ifitl~r:;!~;~~¡~~~· ;;. '~';~¡i;~~fj!~j~i~iil·¡~ Ü'S~~SG10 r 'r 00394 ADDENDUM A TO MOnTGAGI~ Description o!" Property The land referred to in this commitment is situated in tl1e State of Wyoming. County of Lincoln, and is described as follows: That part of Lot 2 and that part of Lot 3 of Block 2 of the Aiton Townsite, Lincoln CountYt Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 237P~ on page 662 and part of that tract of record in the said Office in Book 272PR on page 201/ described 2S follows: Beginning at the southwest corner of said tract of record in Book 272, N 01°45'5611 E, 291,5 feet from the southwest corner ea:d Lot 3; thence N 01c'5'56~ 8, 86,5 feet along the west line of said Block 2 to a point; thence S 88°14'0411 E, 107,5 feet to a point; thence S 43°14/04" 3, 67,88 feet to an intersection with the east line of said tract in Book 272 and the south line of said Lot 2¡ thence S 01045'56" W, 38.5 feet along the said east line, to the southeast corner of said tract in Book 272; thenceN 68°14/0411 W, 155.5 feet along the south line of said tract ir. Book 272, to the corner of besinning. 111111111111111111111111111111111111111111 11111111 79294577 WY ·2029· 1005 ...