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Home My WebLink About917294 ...."'.. t1 - C00407 .~ . A~cording Requested by & When Recorded Return To: US Recordings. Ino, 2925 Country Drive Ste 201 St. Paul. MN 55117 Preparea-By:' ~3 o~i'ì G~ EDNA LEON RECEIVED 4/6/2006 at 2:44 PM RECEIVING # 917294 BOOK: 616 PAGE: 407 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording Data] T {;ob - ()3~.2.ŠÕ MORTGAGE ~ . . 00013229498203006 [Doc ID #] MITNI000157-0006396790-1 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated MARCH 16, 2006 with all Riders to this document. (B) "Borrower" is STEVEN L CORSI, AND MARLA D CORSI , together Borrower is the mortgagor under this Security Instmment. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is COUNTRYWIDE HOME LOANS, INC. Lender is a CORPORATION organized and existing under the laws of NEW YORK Lender's address is 4500 Park Granada MSN# SVB-314, Calabasas, CA 91302-1613 (E) "Note" means the promissory note signed by Borrower and dated MARCH 16, 2006 . The Note states that Borrower owes Lender ONE HUNDRED SEVENTY FIVE THOUSAND and 00/100 Dollars (U.S. $ 175, 000 . 00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in fuIl not later than APR I L 01, 2036 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS ~ -6A(WY) (0005) CONVNA Page 1 of 11 CHL (08/05)(d) VMP Mortgage Solutions, Inc. (800)521-7291 Form 3051 1(~A ~ U (¿~ 1T\P '23991' , 132 2 9 4 9 8 2 0 0 0 0 0 2 0 0 6 A ' (~i!!lliiili;~;!;~ ~ jf ~ j ]~~mmi~fu:: 091.729~ 00408 DOC ID #: 00013229498203006 (G) "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. (H) "Riders" means all Riders to this Security Instmment that are executed by Bon·ower. The following Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider DVARider D Condominium Rider D Second Home Rider D Planned Unit Development Rider D 1-4 Family Rider D Biweekly Payment Rider D Other(s) [specity] (I) "Applicable Law" means alI controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as alI applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or .similar paper instmment, which is initiated through an electronic tenninal, telephonic instmment, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such tern1 includes, but is not limited to, point-of-sale transfers, automated telIer machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "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 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of: or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 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 governs 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 m0l1gage loan" even if the Loan does not qualify as a "federally related mOl1gage loan" under RESP A. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Bon'ower'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 perfo\1nance of BO\1'ower's covenants and agreements under this Security Instrument and the Note. For this purpose, BO\1'ower does hereby m0l1gage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described propel1y located in the COUNTY of LINCOLN [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. Parcel ill Number: 12321901400341.00 274 MEADOW LN, AFTON [StreetJCity ] which currently has the address of Wyoming 83110 - 9793 ("Propel1y Address"): [Zip Code] 5 [;t.- fY1Ð(1, ~ ·6A(WY) (0005) CHL (08/05) Page 2 of 11 Form 3051 1/01 0917294 C00409 '-.. DOC ID #: 00013229498203006 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by BOJ1'ower in this Security Instnllnent, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instnllnent. BORROWER COVENANTS that Borrower 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. Bon'ower waJ1'ants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unifol1l1 covenants for national use and non-unifol1l1 covenants with limited vaIiations by jurisdiction to constitute a unifonu secmity instrument covering real property . UNIFORM COVENANTS. BOl1'ower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bon'ower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. cUJ1'ency. However, if any check or other instnllnent received by Lender as payment under the Note or this Security Instrument is retul11ed 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 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, instnlmentality, or entity; or (d) Electronic Funds Transtèr. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retul11 any payment or partial payment if the payment or partial payments are insufficient to bring the Loan cUl1'en!. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment 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. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retul1l them to BOJ1'ower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which BOl1'ower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perfonning the covenants and agreements secured by this Security Instrument. 2, Application of Payments 01' Proceeds, Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as desclibed in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3, Funds for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments are due 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 Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bon'ower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the tenu of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Bon'ower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Bon'ower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive BOl1'ower's obligation to pay to Lender Funds for any òr all Escrow ~ ·6A(WY) (0005) CHL (08(05) Page 3 of 11 Form 3051 1(01 J¿é 1ìW~ [~!~~i~¡~t !~J~;~~m~Jm~~;: Q91w729!\ C00410 DOC ID #: 00013229498203006 Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If BOlTower is obligated to pay Escrow Items directly, pursuant to a waiver, and BOlTower fails to pay the amount due for an Escrow Item, Lender may exercise its lights under Section 9 and pay such amount and Bon'ower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3, Lender may, at any time, collect and hold Funds in an amount (a) sufficient to penl1it Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate the amount of Funds due on the basis of cun'ent data and reasonable estimates of expenditures of future Escrow Items or othelwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instnul1entality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Bon'ower for the excess funds in accordance with RESP A. If there is a shOltage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and BOITower shall pay to Lender the amount necessary to make up the shOltage in accordance with RESP A, but in no more than 12 monthly payments. If there is a deticiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments. Upon payment in full of all sUlns secured by this Security Instnllnent, Lender shall promptly refund to BOlTOwer any Funds held by Lender. 4. Charges; Liens, BOITower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Propelty which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless BOITower: (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 perfonning such agreement; (b) contests the lien in good tàith 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 the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detern1Ínes that any part of the Property is subject to a lien which can attain priolity over this Security Instrument, Lender may give BOlTower a notice identifying the lien. Within 10 days of the date on which that notice is given, BOlTower shall satisfy the lien or take one or more of the actions set fOlth 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 Insurance, BOITower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tern1 "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the tenn of the Loan. The insurance canier providing the insurance shall be chosen by Bon'ower subject to Lender's right to disapprove Bon'ower's choice, which right shall not be exercised unreasonably. Lender may require Bon'ower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone detennination, celtification and tracking services; or (b) a one-time charge for flood zone detennination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such detern1ination or celtification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone detennination resulting ÍÌ'om 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 Borrower'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 Bon'ower, Bon'ower's equity in the Propelty, or the contents of the Propelty, against any risk, hazard Gt -6A(WY) (0005) CHL (08(05) Page 4 of 11 ;¡þ¿J~~ 0917234 COC411 DOC ID #: 00013229498203006 or liability and might prQvide greater or lesser coverage than was previously in effect. Bon'ower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instmment. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mOl1gage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal cel1ificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fonn of insurance coverage, not otherwise required by Lender, for damage to, or destmction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance canier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise 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 ±èasible 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 the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in wliting or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bon'ower any interest or eamings on such proceeds. Fees for public adjusters, or other third pal1ies, retained by Bon'ower shall not be paid out of the insurance proceeds and shall be the sole obligation of Bon·ower. 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 Instnunent, 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 Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or othelwise, Bon'ower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instmment, and (b) any other of Borrower's rights (other than the right to any refund ofuneamed premiums paid by BOITower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Propel1y. Lender may use the insurance proceeds either to repair or restore the Propel1y or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6, Occupancy, BOITower shall occupy, establish, and use the Propel1y as Bon'ower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Propel1y as Bon'ower's principal residence for at least one year after the date of occupancy, unless Lender othelwise agrees in writing, which consent shall not be uJU'easonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections, Bon'ower shall not destroy, damage or impair the Propel1y, allow the Property to deteriorate or commit waste on the Property. Whether or not Bon'ower is residing in the Propel1y, Bon'ower shall maintain the Propeliy in order to prevent the Propeliy fi'om deteriorating or decreasing in value due to its condition. Unless it is detennined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Propel1y if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are 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 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 condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Propel1y. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application, BOITower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or witll Borrower's knowledge or consent gave materially false, misleading, or inaccurate infonnation or statements to Lender (or failed to provide Lender with material infomlation) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. ~ -6A(WY) (0005) CHL (08/05) Page 5 of 11 Form 3051 1£01 ~~~ r..·:··'t8 i.·,·":,,,.,.. ,_. 1;f::~:~:ili8j:;' ~¡~~~~¡~;~~m;~~~¡~i~~ q~~m~;ili§jm;~i! 0917294 C00412 DOC ID #: 00013229498203006 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Bon'ower fails to perfonl1 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 enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing andlor repairing the Property. Lender's actions can include, but are not limited to: (a) 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 Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities tumed on or off. Although Lender may take action under this Section 9, 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 authOlized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate &om the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10, Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available &om the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the M0l1gage Insurance previously in effect, at a cost substantially equivalent to the cost to BOl1'0wer of the M0l1gage Insurance previously in effect, fi'om an altemate m0l1gage insurer selected by Lender. If substantially equivalent M011gage Insurance coverage is not available, BOl1'0wer shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of M011gage Insurance. Such loss reserve shall be non-refì.mdable, notwithstanding the fact that the Loan is ultimately paid in fì.¡ll, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if M0l1gage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such ten11ination or until temlÎnation is required by Applicable Law. Nothing in this Section 10 affects Bon'ower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for ce11ain losses it may incur if Bon'ower does not repay the Loan as agreed. BOl1'0wer is not a pm1y to the M0l1gage Insurance. M011gage insurers evaluate their total risk on all such insurance in force fi'om time to time, and may enter into agreements with other p311ies that share or modify their risk, or reduce losses. These agreements are on ten11S and conditions that are satisfactory to the m011gage insurer and the other party (or pa11ies) to these agreements. These agreements may require the m0l1gage insurer to make payments using any source of funds that the m0l1gage insurer may have available (which may include fì.mds obtained &om M0l1gage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a p011ion of Bon' ower's payments for Mortgage Insurance, in exchange for sharing or modifying the m0l1gage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often temled "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the' amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any ref\md. _ -6A(WY) (0005) CHL (OS/05) Page 6 of 11 Form 3051 1/01 ¿f~t~ '0917294 C00413 DOC ID #: 00013229498203006 (b) Any such agreements will not affect the rights Borrower has - if any - with I'espect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insnrance premiums that were unearned at the time of such cancellation or termination, 11, Assignment of Miscellaneous Proceeds; Forfeiture, All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Propel1y is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Propel1y, 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 a 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 interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or eamings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shalI be applied to the sums secured by this Security Instnlment, whether or not then due, with the excess, if any, paid to BOl1'ower. Such MiscelIaneous Proceeds shalI be applied in the order provided for in Section 2. In the event of a total taking, destnlction, or loss in value of the Property, the MiscelIaneous Proceeds shalI be applied to the sums secured by this Security Instnlment, whether or not then due, with the excess, if any, paid to BOl1'ower. In the event of a partial taking, destmction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destmction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instmment immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shalI be reduced by the amount of the MiscelIaneous Proceeds multiplied by the folIowing uaction: (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 Propel1y immediately before the pal1ial taking, destl1lction, or loss in value. Any balance shalI be paid to BOl1'ower. In the event of a partial taking, destl1lction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destl1lction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender othelwise agree in writing, the Miscellaneous Proceeds shalI 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 colIect and apply the MiscelIaneous Proceeds either to restoration or repair of the Propel1y or to the sums secured by this Security Instl1lment, whether or not then due. "Opposing Pal1y" means the third pal1y that owes Bon'ower Miscellaneous Proceeds or the pal1y against whom Bon'ower has a light of action in regard to MiscelIaneous Proceeds. BOlTower shalI be in default if any action or proceeding, whether civil or climinal, is begun that, in Lender's judgment, could result in forfeiture of the Propel1y or other material impainnent of Lender's interest in the Propel1y or rights under this Security Instnunent. Bon'ower can cure such a default and, if acceleration' has occlll1'ed, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a mling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Propel1y or rights under this Security Instnlluent. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shalI be paid to Lender. AlI MiscelIaneous Proceeds that are not applied to restoration or repair of the Propel1y shaH be applied in the order provided for in Section 2, 12. Borrower Not Released; FOI'bearance By Lender Not a Waiver, Extension of the time for payment or modification of amortization of the sums secured by this Seculity Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shalI not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shalI not be required to commence proceedings against any Successor in Interest of BOl1'ower or to refuse to extend time for payment or othelwise modify amol1ization of the sums secured by this Security Instrument by reason of any demand made by the original BOl1'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 fi'om third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shalI not be a waiver of or preclude the exercise of any right or remedy. 13, Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instmment but does not execute the Note (a "co-signer"): (a) is co-signing this Security ~ -6A(WY) (0005) CHL (08(05) Page 7 of 11 /?¿1~ ~millilii~~¡I¡ ~ ':::::::~~~~:~::: ·:;';::::~~i~:::::~: 091.7294 rori.'I "'l4 t._ .. \.: 1:. DOC 1D #: 00013229498203006 Instrument only to m0l1gage, grant and convey the co-signer's interest in the Propel1y under the ten11S of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instmment; and (c) agrees that Lender and any other BOl1'ower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instmment or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of BOl1'ower who assumes BOl1'ower's obligations under this Security Instmment in writing, and is approved by Lender, shall obtain all ofBol1'ower's rights and benefits under this Security Instmment. BOl1'ower shall not be released from BOl1'ower's obligations and liability under this Security Instmment unless Lender agrees to such release in writing. The covenants and agreements of this Security Instnll11ent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14, Loan Charges, Lender may charge BOl1'ower fees for services perfom1ed in connection with BOl1'ower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instmment, including, but not limited to, attol11eys' fees, propel1y inspection and valuation fees. In regard to any other fees, the absence of express authoIity in this Security Instmment to charge a specific fee to Bon'ower 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 Instmment or by Applicable Law. If the Loan is subject to a law which sets ma.ximum 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 pen11itted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pen11itted 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 p3l1ial 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 direct payment to BOl1'ower will constitute a waiver of any right of action BOl1'ower might have arising out of such overcharge. 15, Notices. All notices given by BOl1'ower or Lender in connection with this Security Instrument must be in writing. Any notice to BOl1'ower in connection with this Security Instnllnent shall be deemed to have been given to BOITower when mailed by first class mail or when actually delivered to BOl1'ower's notice address if sent by other means. Notice to anyone BOl1'ower shall constitute notice to all BOl1'owers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless BOl1'ower has designated a substitute notice address by notice to Lender. BOl1'ower shall promptly notify Lender of BOl1'ower's change of address. If Lender specifies a procedure for reporting BOl1'ower's change of address, then Borrower shall only report a change of address through that specitied 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 by mailing 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 be deemed to have been given to Lender until actually received by Lender. If any notice required by this SecUlity Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instnll11ent. 16, Governing Law; Severability; Rules of Construction, This Security Instmment shall be govemed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of 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 Instmment or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instnll11ent 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 corresponding 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. 17, Borrower's Copy. Borrower shall be given one copy of the Note and of this SecuIity Instmment. 18, Transfer of the Propeliy or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent ofwhich is the transfer oftitle 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 transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all SUl11S secured by this Security Instmment. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instmment. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pemlÎtted by this SecUlity Instrument without ful1her notice or demand on Bon·ower. . ·6A(WY) (0005) CHL (08(05) ~ Page 8 of 11 Form 3051 1(01 ¿If ¿ -1Y'J:l~ . O· 91......?q~' . ir~-"";':-" t''1n('\.4015 i , ,i '.' ·(1 f' . . . ,t \ ....r . DOC ID #: 00013229498203006 19, Borrower's Right to Reinstate After Acceleration, If BOITower meets cel1ain conditions, Bon'ower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Propel1y pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination 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 Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in entorcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender 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 Instmment, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following fon11s, as selected by Lender: (a) cash; (b) money order; (c) cel1ified 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 obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance, The Note or a partial interest in the Note (together with this Security Instmment) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note mid this Security Instmment and perfol111s other mortgage 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 made and any other infon11ation RESPA requires in connection with a notice of transfer of selvicing. If the Note is sold and thereafter the Loan is selviced by a Loan Selvicer other than the purchaser of the Note, the m0l1gage loan servicing obligations to Bon'ower will remain with the Loan Selvicer or be transfeITed to a successor Loan ServiceI' and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instmment or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other pal1y hereto a reasonable pedod after the giving of such notice to take cOITective action. If Applicable Law provides a time period which must elapse before cel1ain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and Oppol1unity to cure given to Bon'ower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" m'e those 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 fon11aldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. BOll'ower shall not cause or pen11it the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Propel1y. Bon'ower shall not do, nor allow anyone else to do, anything affecting the Propel1y (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Propel1y. 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 nOl111al residential uses and to maintenance of the Property (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 other action by any governmental or regulatory agency or private pm1y involving the Propel1y and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance atfecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. ~ -6A(WY) (0005) CHL (08/05) Page 9 of 11 Form 3051 1/01 /K¿~ :: ~ ;;j ;îIjmmm~~l~ ;;. ¡¡~~]ilim¡;¡, 0917294 C00416 DOC 1D #: 00013229498203006 NON-UNIFORM COVENANTS. Bon'ower and Lender further covenant and agree as follows: 22. Acceleration; Remedies, Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise), The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less 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 befOJ'e 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 invoice the power of sale and any other J'emedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but 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 foreclose 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 15. 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 Secul'ity Instrument; and (c) any excess to the person or persons legally entitled to it. 23, Release, Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is pem1itted under Applicable Law. 24, Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instnllnent and in any Rider executed by BOlTower and recorded with it. Á~? J -I ~ - p'4Seal) STEVEN L. CORSI -Borrower fY\~~. ~ 3-1~rOÞ (Seal) -Borrower MARLA D. CORSI (Seal) -Borrower (Seal) -Borrower ~ ·6A(WY) (0005) CHL (08/05) Page 10 of 11 7~ 0917294 rnt,1't7 \.... '"r', ~ J. . STATE OF WYOMING, DOC ID #: 00013229498203006 County ss: ¿.~ t:..o/" by I~ ¡7Î/UcA /~Oðb My Commission Expires: /2._~ /2 )OClr vr /~ ~~ 4 . Notary Public ~Ø/~ VALERIE KITTRELL - NOTARY PUBLIC County of Uncoln State of Wyoming MyCommlaølon E)(þll'laAprll19, 2008 Gi, .6A(WY) (0005) CHL (08/05) ~¿(f~ Page 11 of 11 Form 3051 1/01 ~:¡~*;:::~:~:¡:::~ !:. ~i:':i:i:kf";6I ::,,:11 ::':' ',:,-,.:.', ",' ·'·'·I'.·~'I..~' 0917294 . [00.10(;8 ... 0 L,¡: J. Fonn No. 3301 (6100) Short Fonn Commitment, EAGLE ASP ORDER NO: 3959480 FILE NO: 3959480 LENDER REF: T006-032250 Exhibit "A" The land referred to in this policy is situated in the STATE OF WYOMING, COUNTY OF LINCOLN, CITY OF TURNERVILLE, and described as follows: PART OF SECTION I, T32N R119W OF THE 6TH P.M., LINCOLN COUNTY, WYOMING BEING MORE PARTICULARL Y DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF THE SWl/4 SEI/4 OF SAID SECTION 1 AND RUNNING THENCE WEST 20 RODS; THENCE NORTH 14 RODS; THENCE EAST 20 RODS; THENCE SOUTH 14 RODS TO THIE POINT OF BEGINNING. APN: 12-3219-01-4-00-341.00 l'mMIIIIMMIIII/MMMmIMII~luum~IIIU U30G3B402-01NP12 MORTGAGE lOAN# rees-e3225e us Recordings PAGE 4