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Home My WebLink About918855 r I '.oJ. J ;:;:;j;~;m;;~~~0; Retum To: WFHM FINAL DOCS X9999-0lM 1000 BLUE GENTIAN ~OAD EAGAN, MN 55121 Prepared By: WELLS FARGO BANK, N.A. 1-919 DOUGLAS, I OMAHA, NE 69101000D (SpilCC Ahove This LiPII For Recorfin¡: Dutnl MORTGAGE ('00889 ~ RECEIVED 5/30/2006 at 9:46 AM RECEIVING # 918855 BOOK: 621 PAGE: 389 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER. WY DEFINITIONS I' Words used in multiple sections of this document are denDjd below and other words are definc:d in Sectioli$ 3, 11. 13. 18. 20 and 21. Certain rules regarding the u~age of words used in this document are also provided in Section 16. (A) "Seturity Instrument II means this document, which is datejMAY 26, 2006 together with aU Riders to this document. (ß) IIßorrower" is RICHARD L POLLITT, A MARRIED PtilRSON i I Borrowcr is the mortgagor under this Security Instrllment. (C) "Lcnderll is WELLS FARGO BANK, N.A. Lender is a NATIONAL A~SOCIATJ:ON organized and existing under the laws of THE UNITED STAT~S 0064732:1.67 393960872118 I WYOMING-Single Family·Fannle Mau/FrBddiil Mac UNIFORM INSTRUjENT (œnk6(~Y' c00061 If£ Ii III i IIII P"II" 1 01 , ~ Iniri41 VMf' MClTGAGfFOflMS, O)ti 7291 I Form 3051 1/Q1 -... -'-'-.-..-... ;1 n .) 9 0 \. '-.; Il) n. >'C.ã..-lli ~.;) \1,;:) {-; lI.f...J _'to ..-1\..:)" ..~ ..' Lender's address is P.O. BOX 17339, 2ALT:rMOREJ, KD 212971339 Lender is the mortgagee under this Security In$tnunent. (0) "Note" means ùle promissory note signed by Borrower and dated MAY 26/ 2006 The Note states thaI Borrower owes Lender ONE HUNDRED NJ:NETY FOUR THOtTSAND F:J:FTY AND 00/100 Pollars (U.S. $ -""'*1'4,050.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and (0 pay the debt in full not later than JUNE 0 1, 203 6 (E) "Property" means the property that 1s described below undèr the heading "Transfer of' Rights in the Propeny. " (F) "I.,oanl, means the debt evidenced by the Noto, plus interest. any prepayment charges and late charges due under the Note, and all súms due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [checlç box as applicable]: D Adjustable Rate Rider B Condominium Rider 0 Second Home: Rider o Balloon Rider Planned Unit Dli!vclopment Rider 01-4 Family Rider GJ V A Rider D Biwe~kly Payment Rider DOthel'(s) [specify} (H) "Applicable Law" means all controlling applicable federal, state and local sUitufes, regulations. ordinances and administrative rnlc$ and orders (tha~ Mve the effect of law) as woll as all applicable tïnal, non-appealable judicial opinions. (T) "Conununity A9~ocîation Dues, Fees. and Assessments" means all dues, fees, assessments and other charges ûlat are imposed on BorrQwer or the Property by a condominium association, homcowncr$ association Or similar organi~ation. (J) "Electronic Funds Transfer" means any transfcr of funds. other than a transaction originat'-'(\ by check, drafl, or similar paper instrument, which is initiated through an electronic terminal, telephonic instnunem, computer. or magnl!tic fape so as to order. instruct. or authorize a financial institution to debit or credit an account. Such tenn incIudc$. but is not limited to, poínt-of-s:tle transfers. automated teller machine transactions, transfors initiated by telephone, win: transfers, and lIutomated clearinghouse transfers. (K) "Escrow Itemsl/ means those items that arc described in Section 3. (I.) "Miscellaneous "Proceeds" m~an$ any compensation, settlement. award of dama~es, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Secti~1ß 5) j'or: (i) damage to, or destruction of. the Property; (ii) condemnation or other taking of all or any pan of the Property; (Hi) cony~yancc in lieu of condemnation; or (iv) misrepresentiltions of, or omissions as to. the value and/or condition of the Property. (M) "Mortgace In!J"Urancl!" means insurlmce protecting Lender agai.11st the nonpayment of. or dûfault on. the Loan. (N) "periodic Payment" means the regularly scheduled arnaunt due for (i) principal and imerest under the Note. plu.~ (ii) any amounts under Section 3 of this Security Instrument. (0) ItRESPA" means tlle Real Estate Settlement Procedures Act (12 V.S.C. Section 2601 et seq.) and its impleml:nting regulation, Regulation X (24 C.F.R. Part 3500), a..~ they might be amended from time to timc, or any additional or successor legislation or regulation that governs 1M same subject matter. As used in this Security IustnllDent. "RgSPA" refers to all requirements and restrictions that arc imposed in regard to a "federally related mortgage loan" even if the Loan does 110[ qualify as a "federally related mortgage loan" under RESPA. .. ,6(WYI 100061 II) Pioe Z 01 lli ~,,~~ form J051 1/01 ~f~mmmmm~i ;J;~;;¡~~~~1~m;;t; _.. .~.- ,i ~>,;r~ ~Flr'c" , , . - ~.~ -.:1 -.:J. ¡~ ',_..Ì' ." ,.... '. 9 .., ,¡ (~".' 1 '.. ". ,-) (P) "Successor in Interest of Borrower" means any party that has taken tHle to the Property, whether or not that party has a!ìsumed Borrower's obligations wlder the Note and/or this Securìty Ipstrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secureS to Lender: (i) the repayml;!nt of the Lonn. and all renl;!wa1s. extensions and modifications of the Now; and (ii) the perforlllanœol' Borrowt:r's covenants and a.greements under this Security I1lStrument and the Notc. For this purpose, Borrowcr does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with powër of sale, the following described property located in me COON'l'Y of LINCOLN {Typd of Recording ]urisdiclÌonl [Namç I)f Recording Juri3t1ictiùn] LOT 1 OF' T1!E WES'rVIEW VILLAG!1: SUBDIVISION, t.INCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. THIS IS A PURCHASE MONEY SECURITY INSTRUHEN'.t'. TAX STATEMENTS SHOULD BE SENT TO ~ WELLS FARGO HOME MORTGAGJ!: I P.O. BOX 17339, BA~~¡~ORE, KD 212971339 Parcel ID Number: 66 PINE LANE J\.FTON ("Property Address"): which currently has the address of [Str=ct] [City] , Wyoming 83110 (Zip Code] TOGETHErt WITH al1 the improvcmunts now or hèr~tìer erected on (he property, and all easements, appurtenances, find fixturo$ now or hereafter a pan of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred [0 in this Security Instrumt:nt 2$ the "Property." BORROWER COVENANTS that ßOrTower is lawfully seised of thë estare hereby conveyed and has the right to mortgage. grant and convey the Property a.nd that the Property is unencwnbered. except for encumbrances of record. Borrower warrants and will defend genel'ally the title [0 the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for narional use and non-unifonn covenants with liml£ed variations by jurisdiction to constitute a uniform security instrument covering real proporty. UNIFORM COVENANTS. Borrower and Lender covenanl: and agree ilS follows: 1. 'Payment of Principal, Interest, Escrow Item$, Prl!payment Charges, and Late Chargû.s. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prt.'Payment charg~s and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the:: Note and this Security Instrument shall be made in U.S. ,~.--y. However, irany check or 0,"" iomum..t rccdvod by L..ò"" ~d" the No," 0, thl, Initials: - ~ .6(WVI oòO~1 Pacs 3 of 15 form 3051 1/01 iii " i :3 :~s :i~} ~~~,.. . rnr.<:92 ".: 1...' ...1 Security InSITlJ.{nent is returned to unùor unpaid, Lender may require Ihat any or all subsequent payments due under the Nato and (his Sæurity Instrumont be made in ope or more 01' the following forms, as selected by Lender: (a) cash; (b) money order; (c) ccrtitied check, hank check, treasurer's check or cashil;\r'$ check, provided nny such check is drawn upon an institution whos!;: deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Fllnds Transfer. Payments an: deemed received by Lender whon received at the loca£ion designated in the Note or a( such other IOClltion as may be designated by Lender in aCéor4ance with the notice provisions in Section IS. Lender may return any payment or partial payment if tile payment or partial payments are insutTicient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, withoul waiver of auy rights hereunder or prujlldice to its rights to refuse ¡¡uch payment or partial payments in the future, but L~nder is not obligared to apply such payrm:ms ~t Lhe time such payments are acceptod. If each Periodic Paymt!nt 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 paymenr to bring the Loan current. If Borrower dOê$ nor do so within a reasonable period of time, LUOQer shall either apply such fundI! or return them to Borrower. 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 Borrower might have now or in the future against Lender shall relieve Borrower from making paymènts due under the Note and thill Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. AppHcation of Puyments or Proceeds. Except as otherwise dCl!cribed in this Secfion 2, aU payments accepted and applied by Lender shall be applied in the fo11owing order of priority: (a) interest due under the Note; (b) principal due under the Note: (c) an'lOlUlts 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, sc¢ond to any other amounts due under this Security Instrument, and then to reduco the principal balance of the Nott:. If Lender receivl.'!S a payment from Borrower for a delinquent Pl:riodic Payment which includes a sufficient ;Unount to pay any late charge duc, the payment may be applied to the ddinquem paym!;:nt and the late charge. If ¡nore úlan one Periodic Payment is outstandins, Lender lIù"\Y apply any payment received from Borrower to the repayment of the periodic Payments if, and to the extent that, each paymènt can be paid in full. To the exb:nt that 811Y excess exÎst:¡ after the payment is applied to tho full payment of OnC or more Periodic Payments, such excess may be applied to any late chargc;.'S due. Voluntary prepayments shall be applied tirst to any prepayment charges and then as described in the Now. Any application of payments, ingurance procoeds, or MiscellaMO\lS Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount. or the Periodic Payml;!nts. 3. Funds {'or Escrow Items. Borrower shall Fay to Lend!:r on the day Periodic Payments are due undur the Note, until the Note is paid in l'uB, a sum (tbe "Funds") to provide for payment of amounts due for: (a) tMes and assessments and other items which can attain priority over this Sccurity Instrument as ¡¡ lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Propurty, if any; (c) premillms for any and all insurance requirM by Lender under Section 5: and (d) Mongage Insurance prenúums, if any, or any sums payable by Borrowcr 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 term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any. be escrowc:d by Borrower, and such dues. fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender alll10tices of amo~nts to be paid under this Section. Borrower 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 Borrower's obligation to pay to Lender Punds for any or all Escrow Items ¡u any time. Any suCh waiver may only be in writing. In the event of such waiver, Borrower sha11 pay directly, when and where payable, the amounts .. ·6WYI IOCOIi¡ " P~[!CI40 15 ~i.'(t{ FD(m 3061 1/01 m~illff~mm¡H :;;f¡1ili~¡~m~¡mm ..-:=L·:·'-_""'r.-....·_~-'-'-""',1",·.'.,.~'."'-'...,.-..,'-',=.".-.._,.·. . . .,...J..'~...........,.. .'.-:', ---'''-~".~ ,. ":'.' ,_..,.., ,.: ~" ,; ~"-:~'ii ~)\,)r iJ .v ..J ..'L '.._ì C~. ), >._ r n r ... c () ,- \.. ,1 0 0 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 requirr;. Borrower's obligation to make such payments and to provide rèctipts shall for all purposes be deemed to be a covt::nant and agreement contained in this Security Instrument, us tbe phrase "covenant Md agreemem" is used in Section 9. If Borrower is obligated to pay Escrow Items diæcUy, pursuant to a waiver, Md Borrower falls to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall th(!n be ot-ligated under Section 9 to repay to Londer any such amount. Lender may revoke the waiver as to any Or all Escrow Items at any time by a notice giwn in accordMce with Section 15 iITId, upon such revoc..'tion, Borrower shaH pay to Lender all Fundg, and in such amounts, that an~ then required under fhis Section 3. Lender may. at any time, collect and hold Fllndf. in an amOllnt (a) sufficient to pemùt Lender to apply the Funds at the time spcdtïed under RESPA, and (b) not to exceed the nwcimum amount 8. lender can require undcr RESPA. Lendcr shaH estimilt~ Ibe anlOUJlt of Funds due on tho basis of currcnt data and reasonable estimates of expenditures 01' future Escrcw Items or otherwise in accordance wír.Il Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumemality, or entity (including Lender, if Lender is an institution whose deposits are so insurcd) or in any Federal Home Loan Bank.. Lender shall apply the Funds to pny the Escrow Items nO later tlUUl the time speciJïed under RESPA. Lender shall not cnarge Borrower for holding and applying the Funds. aMluûly analyzing the e!ìcrow account, Or verifying the Escrow Items, unless Lender pays Borrower interest on Lhe Funds and Applicnble 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 BorrQwer any interest or earnings on the Funds. Borrower and Louder C<1I1 agree in writing, howcvc:r, that interest shall be paid on the Funds. Lender shall give to Borrower, wÎlhout charge. an annual accounting of the Funds as T(;\Cuin:d by RESPA, U: there is a surplus of Funds held in escrow, as dc!'ined under RESPA. Lender shan account to Borrower For the excess funds in accordance with RESPA. If there is a shortage of Fllßds held in escrow, as defined under RESPA, Lend~r shaH notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount nt.'C(!ssa:ry to make up the shortage in accordance with RESPA, but in no mon: than 12 monthly payments. If there is a deficiency of Funds held in escrow. as defined under RESPA, Lender shall notify Borrower ItS required by RESPA. and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more Ihan 12monlhly payments. Upon payment in full of all Su11'l$ secured by this Security Instrument. Lender shall promptly refund to Borrower any Funds heW by Lender. 4. Chì1rgéflj Liens. Borrower ghatl pay all taxes. assessments, charges, fines, and impositions attributable to the Proporty which can attain priority over this Security Instrum~m, leasehold payments or ground rcnts on tbe Property, it' any, and Community Associatìon Dues, Fees, Md Assessments, if any. To the extent that thcse 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 Borrower: (a) agrees in writing to the payment of the obligation secured by the lie:n in a mmmer ncct:plabJc to Lender. but only so long a:; Borrower is perfonning such agreement; (b) cOJUests the lit:n in good faith by, or defends against enforcement of the lien in, legal procúedings which in Londer's opinion operate to prevent the enforcemem of the lien while those proceeàÏ11gs are pending, hut only until such pmceedings are concluded; or (c) secures from the holder of the lien an agrelJment satisfactory to Lender subordinating the lien to this Security Instrument. if Lender detenrunes that any part of the Propeny is subject to a Hen which can attain priority over ûl1s Security Instnnnent. Lender may give Borrower a notice identifying the . -BIWVI (00051 i@! P:I{Q 6 of 16 ,-(§f Form 3051 1/01 ·..t..........' ... , ............... ¡[\ ~~. Ad t...~1I-;; r ~. "':;: ..f' ..J..."Jo.-", .....\...".. ,p. . r qn«j'4 ....... \".:....1 "I... lien. Within 10 days of the: dare on which that noticc i~ given, Borrower shall satisfy the li~n or take one or more of the actions $ct forth above in this Section 4. Lender may require Borrower to pay a on~·time chargt! for a real estate tax verilkation and/or reporting service: used by Lender in connection with this Loan. S. Property Insurunce. Borrower shall keep the improvements now existing or hereafter erec£ed on the Property insured against loss by fire, hazards included within thl: term "extended coverage," and any other hazards including, bm not limited to, earthqu~es and nMds, tòr which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) anù for the periods that Lender rcquires. What Lc..>nder requires pursuant to the preceding sentences can chat\ge during the term of the: Loan. Tht! insurance carrie:r providing the insurance shall þe chosen by Borrower subject tD Lender's right to disapprDve BorrovJer's choice. wl1ich right shall l10t be exercised unreasonably. under may reqIJire Borrow!:r to pay, in connection with this ~_oan, either: (a) íl one-time charge for flood zone determination, certification and tracking services: or (b) a one-tim~ charge for 1100d zone d~tt!rmination and cel1ification services and subsequent charges each time remappings or simiJar changes occur which reasonably might aftt:c[ such determinalÎon or certificalÎoll. Borrower shall also be l'esponsibll.! for the payment of any fees imposed by the Federal Emergency Management Agency in connecûoo with the review of anynood zone determination resulting from an objection by Borrowe:T. If Borrower fails to maintain any of the coverages described above, Lender mäy obtain insurance coverage, at Lend~r's option and Borrower's expense. Lend~r is under no obligation 10 purchase any particular type or amount or coverage. Therefore, such coverage sball cover Lendt!r, bllt might or might nQt protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk. hazílrd or Jiability and might provide greater or le:ssor coverage than was previously in effect. Borrower acknDwledges dlar the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Ltmder under this Section 5 shall become additional dl.1bt of Borrower secured by this Security Instrument. These amounts shall bear intercst at the Not\: rate from the date of disbursement and shall be payable, with such imerest, upDn notice from Lender to Borrower requesting payment. All insurance policiðS required by Lender and renc:wa1s of such policies shall bt! subject to Lender's right tö disapprove such policios, shaH includo a standard morLgage c1austl, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold thl.1 policies and renewal cenificatf:.S. If Lender requires, Borrower shaH promptly give to Lender all receipts of paid prl.!wÜuns and renewal notices. If Borrower obtains any form of insurance coverage. not otherwisl.! required by Ll.1nder, for ck1ffiage to, or destruction of, the Propt!rty, such policy ßhall include a standard mortgage c1rmse and shall name Ltndcr as mortgagee and/or as 1U1 additioOallDss payee. In \:he event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, Lender may make proof of loss if not made promptly by Borrower. Unloss Lender and Borrower otherwise agree in writing, any insurance proceeds, whl;i:h~r or not the underlying insurance was required by Lender, shall be applil.1d to restoration or ropair of the Property, if the restoration or repaír is cconorrUcally feasible and Lender's security is nDtlessened. During s11ch repair and restoration period, Lender shall have the right to hold such insurance proceeùs until Lender l1as n&d an Dpp0rlunity to insp~ct such f>rDpeny 10 ensure the work has been completed to Lender's satisfaction. provided that such inspection sl1all be undet1ak:en promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in à series of progress pílyments as the work is completed. Unless an agreement is made in writins Or Applicable Law requires interest to be paid on such insuranœ proceeds, Lender shall not be œquired to pay Borrower any interest Dr earnings On such proceeds. r)ees fDr public adjusters, Or other third parties, retained by Borrowc:r shall not be paid out of the insuranco proceeds and shall be the sol~ obligation of Borrower. If the restoration Or repair ig nor economically feílsible or Lender's security would be lessened, the insurance procee:ds shall be applied 10 the sums secured by this St!(:urity Instrument, whether or not then due. with _ ·61WYIIOOO61 \I) PðiJ& ti of 16 ,"",,,ft{ Form 3051 1/01 W[mm¡ ?~m~~¡~~:~ ..',.."....."':..:...,. ..'.,~"....,,'.'-"...... -~,,,_::~ , ,'.j' :...\\ o¡.,;' <¡;., I"'" ~..~ ...~ _~~.. \._i C:J '< oF· r q n '_ C ~r -' ,_ 1.-. <.,.J 0 the excess, if any, paid to Borrower. Such insurance proceeds Iihall be applied in the order provided for in Section 2. If norrower abandons the Property, Lender [nay fiI~, negotiate and settle any available insurance claim and relared matter¡I, If Borrower does not respond within 30 days to a notico from Lender thåt the insu11\J\ce carrier has offered to settle a claim. then Lender may negotiate and settle the cJaitn- The 3D-day period will begin when the notice is given. 111 either event. or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lendc:r (a) Borrower's l'ights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this SecurÜy Instrument, and (b) any other of Borrower's rights (other than the right to any refund ofuncamed premiums paid by BOITower) under all insurapce policies covering the Proptny, insofar as such rights arc applicable to the coverage of the Property. Lender may use the insurance procee::ds aither to n:pair Or restore thl: Property or to pay amòunts unpaid undcr tlle Note or this; Securit;' Instrument, whether or not then due. 6. Occupancy. Borrower $h~1 occupy, cstabtish, Md ust) the Property as Borrower's principal residence within 6D days after the exe(.'Ution of this Security Instrument and shall comimu~ to occupy the Propeny as Borrower's principal residence for at least one year IItì:er the date ot' occupancy. unlcss Lender otherwlse agrees in writing, which consent shaH not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. , 7. Preservation, Maintenllnce and Protection or the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deterior:ne or commit waste on the ProperlY. Whether or not Borrower is residing in the Properl.y. Borrower shan maintain the Property in order to prevent the Property from deteriorating or decreasing in valuc due to ils condition. Unless it is determined pursuant to Section S that repair or restoration is not economicany feasible. Borrower shall promptly repair the Property if damaged to avoid further dl:terioration or damagt. If insurance or condemnation proceed!; ate paid in connection withdamagt) to, or the taJdng of, the Propcny. Borrower shall be responsible for repairing or restoring the Property only if Lender has rd~ased proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in II single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not suflicient to repair or restore tht Property, Borrower is not relieved of Borrower's obllgation for the completion of such repair or restoration. Lender or its agent may make: reasonabJe t!ntries upon and inspections of the Propeny. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Bon-ower notice at the time of or prior to such an interior inspection specifying such r~as:onable cause. 8. ßorrowér'S Loan Application. Borrower shall be in default if. during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave matorial1y false, misleading, or ulaccurate information or stah::ments to Lender (or failed to provide Lender with material infonnatjon) in connection with the Loan. Material representations include, but arC not limlted 10, reprcsentations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9, Protection of Lender's (I1terest in the Propérty aud Rights Under this Securitÿ Instrument. If (a) ßorrower fails to perform the covenants and agreements conlained in thi~ Security Instrum!:nt, (b) there is a legal proceeding that might significalllly atTtct Lender's intercst in the Property ànd/or rights under this Security JnstrU!'ò.tnt (such as a proceeding in bmùcruptcy. probate, for condemnation or forfeiture, for ent'orœmént of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, tl1en Lender may clo 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 valu~ of tlle Propeny, and stcuring and/or repairing tht: 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 Instrumt:nt: (b) appearing in court; llild (c) paying reasonable ~..:@t $<i6IWYI DDD61 P~ge 7 0115 \" _\ Form 3051 1/01 ---------- .---... "'_... --'~-... ....,.,...........-....""...'. r· :;, (), C· 6 \ : ).r, I e. ..: ..' '.. V ..1 <-J n<:kr~ ~",,;y.-J,r\¡. .J ..._J ..._",# ._,,'-+1,4., attorneys' fees to protect its intl:rcst in the Propurly lI'Jd/ol' rights uI'Ider this Security Instrum~nl, including its secured position in n bankrl.¡ptcy procet:ùing. Securing the Property includes, but is not limited to, enteling the Property to make repains, change locks. rr;:place or board up doors and windows, drain water from pipes, elinlinate building or other code violations or dangerous conditions, and have utilitic$ turned on or off. AI!.hough Lender may take action under this Sl:ction 9, Lender does nor have to do so and is not under any duty or obligation to do so. It is agreed !.hilt Lender incllrs no liability for not raking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this ~ection 9 shall becoml: additional debt of Borrower secured by this Security Instrument. These amounts shall bear imerest at the Note rate from the date of disburscment and shall hi."! payable, with such interest. upon notice from Lender to Borrower requesting payment. Jf this Security Instrument is on a lensehold, Borrower sball comply with all the provisions öf the lease. If Borrower acquin:s fee title to th~ Property I the leasehold and the fce title shall not merge unless Lender agrees [0 the m~rgúr in writing. 10. Mortgítge lnsurnnce. If Lender required Mortgage Tns\.ltance as a éOndilion of making the Loan, Borrower shall pay tl1e premiums required tó mairmúl1 the Mortgage Insurance: in effect. U. for any reason, the; Mortgage Insurance coverage required by Lender ceases to b~ available from tht! mortgage insurer that previously provicled such insunmce and Borrower was required to make separatcly designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the prenùums required to obtain covc:rage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantial1y equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially eql1iva.l~nl Mortgage Insurance coverage is not available, Borrower shall continue to pay tò Lender the amount of the separ¡¡te1y designated payments that wl:re due when the insurance coverage ceased to b~ in effect. Lender will accept. use and retain thes~ payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve ¡¡hall bc non-refundable. notwithstanding the fact that the Loan is L)ltimately paid in full, and Lender shall nOt be required to pay Borrower any imercst or earnings on such 105s reserve. Lender can no longer requiœ loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lendçr again bl:Comes availablt:, is obtained, and J..¡:~nder requires separately designated payments toward d1e premiums l'or Mong¡lgt Insurance. If Lender required Mortgage: In$ul'atlce as a condition of making lhe Loan and Borrower was required to make separately designated payments toward the premiums fOr Mortgage Insurance, Borrower shall pay the prßTT1iums required to maintain Mortgage Insurance in effect. or to provide a non-refundable loss reserve. until Lênder's requirement for Mortgage Insurance ~nds ili accordance with any written agreement betwecn Borrower and Lender providing for such termination or umìl termination is n:q\Ùred by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at lhe rare provided in the Note. Mortgage Tn$Ut'ance reimburses Lend~ (or any tmtity that purchasés the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed, Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their totill. risk on all such insurance in force from time to time, and may enter into agrtement& with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or paJ1ies) to these agreements. l1\ese agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender. any p\U'chaser of the Note, ¡¡nother im::urer, any reinsurer, any other entity, or any affiliate of any of the forcgoing, may recciv~ (directly or indirl:cny) amounts that derive from (or might be characterized as)¡ a portion of Borrower's payment!> for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agrr:emcn! providos that an aftìliate 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 ofum termed "captive reinsurance." Furlhèr: (a) Any such agrccrnentli will not. affect the antounts that Borrower has agreed to pay for Mortgn~e Insurance, or any other terms of the Loan. Such agreements will not increase the amount B(rrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. ..".,./!!f? G(lj°6IWYII0006) P~f 8 Q/15 ~ ~ form 3051 1/01 ~mi~¡ilmI:~j :]. .~. (_~ --7d !'t.~ ~JI r- ~ ::::~ ('. 1.'.._J ':~''''_'''(_,;i'c 4> .~ ~jm~~~~~~mm~ -- -~''''''''''''<.~'.,".....~ r- ...., f""\. ."'. ~( : .,\ ~ . " f.. . .. ..., ,.1 . (þ) Any such agreements wiH not a,fect the rights Borrower has - if any - with r{!spect to the Mortgage Insurance under th~ Homeowners Protection Act of 1998 or any other luw, These rights may include the right to receive certain disc1osurt.I¡, to request and obtain cancel1ation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a rel'und of any Mortgage Insurance premiums that were unearned at the time of such cancel1ation or termination, 11. Assignment of Miscellaneous Prm;eeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If ùle Property is damaged, such Miscellaneous Proceeds shall be applied to restoratjon or repair of tþe Property, if the restoration or repair is econorr'ically feasible and Lender's security is not lessened. During sl1ch repair and restoration period, Lender shaH have the right to hold such Miscellaneous Proceeds. until Lender has had 8n opportunity to inspect such Property to ensure thl: work has been completed to Lender's ¡:atisfacIion, provided that such insp~ction shall be undenal\C11 promptly, Lender may pay for ~h(J repairs and n:sloration in a single disburs~ment or in a series of progress payments as the work is completed. Unless 8n agr~ment is made in writing or Applicable Law requires interest to be paid on such Miscellaneous proceeds, Lender shall not be rcquired to pay Borrower any interest or earnings on such MiscellfU1eous Proceeds. If the restoration or rep:¡ir 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. Sl1ch Miscdlaneous Proceeds shall be applied in the: order provided for in Section 2. In I,he event of a tota) taking, destruction, or loss in value of the Property. the Misœllaneous Procûeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. . In the £!vent of a partial taking, destruction, or loss in value of the Property in which 1M fair market value of the Property immediately befûff: the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security InstruJl1(Jnt immediately belare the partial taking, destruction, or loss in value, ùnless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount oj' the Miscellaneous Proceeds multiplied by the following fraction: (a) [he total amount of the sums stcured ifillTIediately before the partial taking, destruction, or loss in vallie divided by (b) the fair marker value of the Property immediately before the partial takinS. destruction, or loss in valu¡:. Any baláñce shall be paid to Borrower, In lÞe event of a partial taking, destruction, or loss in value of the Property in which the f:¡ir market value of the Property inunediatcly before the parti¡¡l taking, destruction, or loss in value is less than the . amount of tl1e sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender oÙ1erwise agree in writing, the Miscellaneous Proceeds 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 Borrowel',or if, after notice by Lender to Borròwer that the Opposing Party (as defined in the next sentence) offers to make an award to settle :¡ claim for damages. Borrower fails to respond to Lendtlr within 30 days after tl1t date the I1C.Jtice is given, Lendor is authorized to collect and apply [he Miscellaneous Proceeds eithér 10 restoration or repair of the Property or to th~ sums secured by this Security Instrument. whether or n01 then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proc~cds or the party against whom Borrower has a right of action in regard to Mi~cel1aneot~s Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that. in Lender's judgment, could result in forfeiture of the Proptlrty or other material impairment of J.l;1ndec's interest in the Property or righl:s unIJer this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by ca~itlg the action Or proceeding to be di~mjssed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other máwial impainnent of Lender's interest in tho Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are amíbutable to the i!npairrnent of Lender's intcrest in the Property are hereby asSig11ed and shalt be paid to Lendcr. All Miscellaneous Proceeds that are not applied to restórãtÎOJ1 or Tt!pair of the Property shálJ be applied in the order provided for in Section 2. OIliS(WVIICOC51 Paga 9 a/16 ,~··e4! "\ d--"\ Form 3051 1/01 ,r'i'-'J" ..or' ~! ,!{ ',-,- <i .':'1...... ~ \I.\;...i ':J:Ci.'.':, ¡I.... _?... ':"~] C.'J ~ ...'1 ~!.~ l'''- , 'j f"t '. ,. . ",.', i.~8 '.. I.. ..1 ..."¡ .12. :Borrower Not Released; I~orbearance By Lender Not a Waiver. Extension of the time for payment or mo4iticalion of amortization of the sums secured by this S~urity Instnmu:nt granted by Lender to Borrower or any Succ¡:ssor in lntere¡;t of Borrower shall not oper¡¡te to release th~ liability of Borrower or any Successors in Interest of Borrower. wnder shall nOI be required to commence proceedings ~gainst any Successor in Interest of Borrower Or to refuse to extend time for payment or otherwise modify amortiz¡¡tion of the sum¡; secured by thi$ Security InstriJTnent by reason of any demand made by the original Borrower or ¡my Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Ltmder's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less ~han the amount then due, shall not be a waiver of or preclude the ext!rcise of any right or remedy. 13. Joint and Several Liability: Co-signer$: Successors and Assigns Bound. Borrower covenants and agrees ~hat Borrower's obligations and liabi1iry shall be joint and several. However, any Borrower who co-signs this St:curity Instrument 'D¡H does not execute the Nott: (a "co-signer"): (a) is co-signing this Scellrity Instrument only to mortgage, grant and convey dIe co-signer's inteTt!st in the Property under the terms of this Secmity Instrument; (b) is not personally ohligated to pay the sums securecJ by this Security (nstromeD[; and (c) agrees that Lender and any other Borrower can agret: to extend, lllodi{y, forbear or make any accommodations with regard to thc tenns of this Sec~tity Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall oþtain all of Borrower's rights ¡md benefits under this Security Instrument. Borrower ~all not be released from Borrower's obligations and liability under this Security instrument urness Lender agrees to such release in WritÌ11g. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of LencJer. 14. Loan Charges. Lender may charg~ Borrower fees for services perfQwed in connection with Borrower's default, for the purpose of protucting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, at!óI'ñeys' fe~, property inspection and valuation fc~s. In regard to any other fees, the absence of express authority in this Security Instrument to charg~ a specific fee to Borrower shall not be construed. ItS a prohibition on the charging 01' such fee. Lender may not charge fees that are expressly prohibited by this Sc:cuTÎty Instrument Or by Applicable Law. If the Loan is subject to a law which sets maximwn loan charges, and that law is fiually interpreted ~o that the interest or other loan charg~$ collected or to be'! colleered in connection with tho Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennítwct limit; and (b) any sums all'eady coUected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to malœ this refund by reducing the principal owed under the Note or by maldng a direct payment to Borrower. If A refund reducc~ principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrow~r's acceptanct! of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arisiug out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Securhy Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower wh~n mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constihHt notice to all BorrowerS unless Applicable Law expressly requires otherwise. The notice address shall be the Proper~y Address unless Borrower has designated a substitute noti(:c address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifics a procedure for reporting Borrower's change of addresR, then Borrower shá!l cUlly report a change of address through that specilied procedure. There mOlY be only one designa~ed notice address under this Security In&trument at any onC tiltle. Any notice to Lender shall be given by deli wring it or by mailing it by tïrst cl¡¡ss mail to Lender's address stAted herein unless Lender has designated anoth~r address by notice w Borrower. Any notice in connection with tbis Security Instrument shall not be; deemed to have been given to Lender until actually received by Lender. If any notice required by this Secunl.y Instrument is also required under Applicable Law, the Applicable Law requirement wi11 satisfy thè corresponding requirement under this Security Instrument. If h1iual&' G·SIWYll00051 POo& lOaf 16 Form 3061 1/01 œ ~~lli~ili~~l -- .' ·'C·C: ,¡ ,{...~~:,:~ t€¡ H,}1--li Qr. .J .,.., (~¡1ili~~f~~;1!i: r .... (\ .' c 9 ,~¡~: ~.,~; 16. GoverJÚnc Law; Severability; RuIes of Ccutstruction. This Security Instrument shall be governed by federal law and the law of the jurisdic!ion in which the Property is located. All rights and obligations contained in this Security Instrument [¡re subject to any r~qllirements and limitations of Applicable. Law. Applicabl~ Law might eXRJicitly or impl icitly al~o~ the pa.;ties to agree by contract or it mi¡¡ht be sllent. but such sllence shall not qe construed as a prohIbitIOn agamst agreement by COnLract. In the event that any provision or clause of rpis Sccunty Instrument or the Note conflicts with Applicable Law, such conflict shall not &ffeet other provisions of this Security Instrument or the Note which can be given effect without the conflicting provisiojl. As uB.ed in this Security InstTUme~c¡ (a~ w.o~ds of the masculine g~nder s~a!l mean and inclucle correspondmg neuter words CJ1' words of the ferruIl1!le gender: (b) words In the sUlgular shall mean find include the plural and vict versa; and (c) ~le word "may" gives sole discretion without any obligation to take any actiQn. f 17. Borrower's Copy. Borrower shall'b~ given one copy of the Note and of ~his Security Instrument. 18. Transfer of the Property or a Beneficial Intert:st jo Borrower. As used in this Sccr.)on 18, "Interes! in the Property" means any legal Qr beneficial in!tJrest in the ProperlY, including. but not limited to. those beneficial il1t~rests tr~nsf~rre~ in ~ bond ,for ~e~d, contract for deed, instaJ1ment sales comr¡¡çt or escrow agreement, the mtent 01 whIch 1S tl1<1 tran$ler üt utle by Borrower at a f"Uture date to a purchaser. If an or any part of thl:: Propeny or miy Interest in the Property is sold Or transferred (or if 'Borrower is not a natural person and a bCßetïcial int~rest in Borrower is sold Or transferred) without Lender's prior written constJnt, Lender may require i!DUÍediate payment in fu11 of all sums secured by this Security TnstrllIUent. However, this option shá!! not be exercised by Lender if such exercist! is prohibited by Applicable Law. I If Lender exercises this option, Lender shall give Borrowcr notice of acceleration. The notice shall provide a period of not less than 30 days from the Òíltt;: the notice is givtn in accordance with Section 15 within which Borrower mu~t pay all sums/secured by this Securiry Instrumf;\nt. If Borrower fails to pay tht!sc sums prior to Ihe expiration of thill, period, Lender may invoke any remedies permitted by this Security fnstI1lßle1ll without further notice or demand on Borrower. 19, porrower's Right to Reinstate Arter Acceleflltion. If Borrower mects certain condi~ions. Borrower shall have the right to have enforcement of this- Security In$1:rumem discontinued at any time prior to th.: ëarliest of: (a) flv.: days beforelsale of the Property pursuant to any power of sale contained in ~hi$ Securiry Instrument; (b) such other p~riod 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 condilions are that BOTTowtr: (a) pays Unùer all sums which then would be due under this Security Iostnlment and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreement!!; (c) pays all expenses incurred fn enforcing this Security Instrument, including, but not !inuted to, reasonable atlOrneys' fees, property Ì1}spection and valuation fees, /U'ld other fees incurred for the purpose of protecting Lender's interest in the Prop~rlY and rights under this Security Instrument; and Cd) takes such action as Lender may reasomiliy require to a.~$ure that Lender's interest in Ihe Property and rights under this Security Instrument. and .Borrower's obligation to pay the SI.lffiS secured by this Security Instrument, shall continLtc Ilnchanged. Lender ~y require that Borrower pay such reinstatement sums illld expenses in one or mor~ of the following ¡ forms, fi3 selected by Lender: (a) cash: (b) money order: (c) cen:ifie~ c~.:ck, bank chec~, tœas~rer's Ch~ck of cashier's cbec~, providr::d ,any such .check is drawn upon an msUtut!on whose deposIts are msured by å teder:1! agency. mstrumema]¡ty or entIty: or (d) Eleclronic Funds Tr~sf~r. Upon r~instate~eDt by B0p-0:-"er, this Security Instrument a~d o,bligations. secured hereby shall remain fully effectlve as If no acceleratIon had occurl'ed. However. this nght 10 rcmstate shall not apply in [he case of acct!lcratîon under Seetfon 18. 20. Sale of Note; Change of Loan S~rvicer: Notice or Grievance. The Note or a panial interest in the Note (together with this Scc~rity Instl'ument) cm be sold one or more times without prior notice to Borrower. A sale might result in a change in lhe entity (known as the "Loan Servicer") that collects Periodic PaymeMs due Ul1der the Note an'd this Security Instrument illld performs other mortsase Joan servicing obligations under the Note, this ~ecurity Instnunent. and Applicable Law. There also might be one or more changes of the L.oan Servicer pnrtlated to a sale of the Note. If there is a change of the Loan Servicer, BOrrower will be given writtr::n n~)[ice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made /U'ld any other informmion RESPA 1n4li¡¡"ØP -W FDrm 3051 1/01 _ .6/WYI (00061 œ pogo 11 or 15 . , . . ~ . .. ..... .. - J) ~~ :t.~ t~~·~ ~.~ .:jt ~:: :~~~ r· ,.-) (' " .'. 0 ~...\j \.. ~i 'i...· requirc.'8 in connection with a nOfice of transt"t:r of servicing. lI'the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remaln with rhe Lom1 Service, or be transferred to a successor Loan SèrVicer and are not assumed by tiu: 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 parry's actions pursuant to this Security Instnunent or thaI alleges that the other pany has breached ¡¡ny provision of. Or any duty owed by reason of. this Security Instrument, until such Borrower Or Lender has notitied the other party (with such notice given in compliance with the requirements of Scction 15) of such a!leged breach and afforded the otller party hereto a reasonable period after the giving of such notice to take corrective action, If Applicable Law provid~s a time period which must elap~e before certain action can be taken, that time period will be deemed to be reasonable for purposes of t111s paragraph. The notice of acceleration amI opportunity to cure 8iven to Borrower pursuant to Section 22 and the notice of accoleration given to Borrower pursuant to Scction 18 shall be deemed to sati:>fy the notice and apponunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardoU$ substances, pollutants, or wa$tes by Environmt:.'1\ta1 Law and the following substances: gasoline. kerosene, ot!lf;\r t1anJU'Ulble or toxic petroleum products, toxic pesticides and herbicides. volatile solvents. materials cont¡¡inil1g asbestos or formaldehyde. and radioactive materials; (b) "Environmental Law· means federal laws and laws of the jurisdiction where rhe Property is located that relate to health, safety or environmental protection; (c) "Envirorul1ental Cleanup" includes any response action, remedia! 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 Envirorunental C\(:an¡¡.p. Borrower shall not cause or pèrrnit t1~e presence, use, disposal. storage, or release of any Hazílrdous Substances, or threaten (0 release ¡my Haz..'U"dous Substances. on or in the Property. Borrower shall not do. nor a!low anyone else to do. anything affecting the Property (a) that is in violation 01' any Environmental Law, (b) which creates an Environmental Condition. or (c) which. due to the presencè, use, or release of a Hazardous Substance, creates a condition that adver!:eJy affects the value of tht! Propeny, The preccding two sentenCes sha11 not app!y to the presencè. use, or storage on the Property of small quantiti~s of Hazardous Substances that are generally recognized to be appropriate to norma.! residential U$es and to maintenance of the Property (including, but not limited (0, hazardous substances in consumer products). Borrower shilll promptly give Lender written notice of (a) any investigation. claim, demand, lawsuit or other action by any gover1U11ental or regulatory agency or private party involving the Proptrty Md MY I-Iaz.1rdous Substance or Environmemal Law of, which Borrower has actual knowledge, (\:I) any Environmental Condition, including but not limited to, any spilling, leaking. disr::härge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the prcsence, use or rclease of a Hazardous Substance which adversely affects the value of thë Property. If Borrower learns, or is notit1ë:d by any governmenta! Or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary rt~media1 actions in accordance with EnvironI'I\f;ntal Law. Nothing herein shall create any obligation 011 Lender for !U1 Bnvironmclltä1 Cleanup. cD ·6IWYI c00061 lID . PoIOI 1 2 at 16 ~~¡ili~~¡j!~~i~: '"'~fif Form JOr:ïl 1/01 ~i~;~¡Ji[~1m;: ........-.....-.-.... if .~ '\.Å ..~ '.~ì IrJ l:" ,,- .F -."I ~;.., '.~KJ....~,~·~ ,..\ ;"'0 ."' LJ: ,. 1 NON-UNIFORM COVENANTS. Bo¡rower and Lender jrtl1èr covenant ¡¡nd agree as follows: 22. Acceleration¡ Remedies. Lender shall cive notice to Borrower prior to acceleration following Borrower's breach of any covenant or I1greement in thi~ Security (nstrument (but not prior to acceleration under Section 18 unless App icable Lllw provi~es otherwise). The noticc shall b'P(.'cify: (a) the dt!fault: (b) the action required to cu~e the default¡ (c) 1 date, not les! than 30 days from the date the notice is given to Borrower. bY. Whi~ the defl1ult must¡:be cured; .and (d) that failure to cure the default on or before the date specified in the notice may re.1ult in acceleration of the Imms secured by this Security Xnstnunent and sale of th Property. The notice shall further inform Borrower of the right to reinstate after accelerllUoo and tIle right to bri~1: "I court action to assert t~e non-existencc of a default or any ot~e~ de.rense of ~orrmrer to ac~elerl'lt~on nnd sale. .If t.he def~uJt IS not cu~ed On or before the date specified III the nohce, L?nder at lts option F)Y require umnedinte payment 11} full of all sums secured by this S~curity I~<¡tl'urent wit~ou.t J'urtller demand nnd may in;olte the power of sale and nny other remedies per.nuttedlby Apphcable La~v. Lender shall be entitled to collect all "'p""" """'00 in p....u1n. tb. ...modi.. provi... in tbjj Se,ti..22. incln.tng, but not limited t., reasonable attorneys' fees and costs of title eYldence. If Lender invoIces the power of SI1I~, tender 'iihall g¡VP llotice oj' intent to forf.!élose to Borrower and to the person in poSSCSSiOfl ot the Property, if differ¡ent. in accordùnce with Applicable Law. Lender shaH give notice of the sale to llprrower in the mnþner provided in Section 15. Lender stJaH publish the notice of sule, and the Proferty shall be S()~: Îll the manner prescribed by Applicnble Lllw. Lender or it¡¡ designee may purch~se tht! Property ut Rny sale. The proceeds of the sale shall be applied in the foIlowiug order: (a) t~ all expenses of the s¡lIe. including, but not limited ~o, reasonable attorneys' fccs¡ (b) to all SU~~¡¡ secured by this fecurity Instrument; and (c) any excess to the person or persons lega.lIy entitled to r I 23. Rclease. Upon payment of (¡]I Suf1S secured by this Security Instrument, Lß1lder shall œl¡:ase this Security Instrument. Borrower shall pay any recordation car.ts. Lender may charge Borrower a fee for releasing this Security I1l5trumtnt, but only if the fee is paid 10 a third party for services rendored and the charging of the fee i$ permitted undcr APPlicable Law. I 24. Waivers. Borrower releases and waives all righ~s under and by virtue of the homestead exemption laws of Wyoming. G-SIWYII00051 (If¡ l'il\JD 13 of 1 Õ ",;.,ffj! Form 3061 1/01 ¡í "'.À··~~;"HJ. r C' . 1'.3 .~'·'~'\.::;'.)kÌl ( ..... f' t~ U"'\ 2 \..-' \...,1 '-....: -.1 BY SIGNING BEJ-OW, Borrower accepts and [¡grees to ). terms and covenants containl:ù in tliis Security Ins!rwnent and in any llider executed by Borrowor an!) r~orded with it. Witnesses: (Seal) ·BolTowcr (Seal) ·Borrower (Seal) -ßolTow~r """'='.6(WYIIOOOil ~(Ì) R~ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Ðorrow"r P.g.'4DI'6 Form 3051 1/01 []~mm~; ;;::]~\i1~¡!~d! ¿,\ f..'J' "'!i~)~';¿ <':"' (:; of... .l.ll,~tC_",..1J~...J1 (' . -~! n n,~· ',.., ;,) t (:t.' u3 STATE OF WYOMING. LINCOLN County 5S: The foregoing instrument was acknowlc~dg~d before me this by RICHARD L POLLIT1 AND PEGGY:S POLLITT My Commission Expires: to/ds/o(.; v~ q~f?J\ðJlf tu- Nnlllry Public NI\NCY J BROWN - NOTARY PlJ8L1C County of" State of LIncoln 'WI \Y)'omIn¡ My Commllllon bpRI 6-25-2006 .. -6GIWYI 100051 Q) Paoa·'5 ot 15 "."~fI$ Form :3051 1'01 l~·_· :-.' ,.~,""~~,-...,, ',_t",""""., . 0064732167 393960872118 r· ~. r ' . ,n" 4 "..' .',.1 \'.. ¿i t/ " '1',"-)-<;; ~"il' r- ..- G...f.~} ...~-..',.J(~~~- )~JI VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER is made thls26TH day ofMA'Y' , 2006 , and is încorporitted into and shall be deemed LO amend and supplî:ment the Mortgage. Deed of Trus~ or Deed to Secure Debt (herein "Security Im;(r~ment") dated of ellen datc herewith. gillen by the undersignM (herein "Borrower") to secure Borrower's Note to WE~LS FARGO BANK, N.A. (herein "Lender") and covering the Property described in the Security Instrument and located al 66 PINE LANE, AFTON. WYOMING 83110 IPropllrt)' At/dress] VA GUARANTEED LOAN COVENANT: In addition to the covcnants and agreements made in the S~LiI'ity Instrument, Borrower and Lender further covenrult and agree as follows: If the indebtedness set:~red hereby þe guaranteed or insurtld under Title 38, United States Code. such Title and Regulations issued th(;m~\.!nder and in effect on the date hereof shan govern the rights, duties and liabilities of Borrower and Lender. Any provisions of the Security Instrumt!nt or other instruments executed in connection with said indebtedness which are inconsistent with said Title or Regu), àtiortS includiI1g, but nOL limited to, the provision for payment of any sum in connection with prepayment of the secured indebtedness and the provision that the Lender may accelerate payment of the secured indebtCdness pursuant to Covenant 18 of the Security JnMrument, an; hereby amended or negated to the ú)(!entnecessary to conform such instruments to said Title or ReglÙatiOl1s. MULTI STAn VA GUARANTEED LOAN AND ASSUMPTION POLICY RIPER ~-53ßR{0310) ¡¡;rIO Pa98 1 of 3 Initials: VMP Mortgage Solutions ¡eOO) -. 11111111111111111111111111111111111 millm~ilii::; , :~:~¡; ¡i j I;~~;~~:~¡I~~~:: ",·ct, j ~¡ 11:) t·,·, ..~ ~ Y ..J .:" (.~j (:)" ., .",VI f' .-¡ ,f"I /' , "" ._/ .;~. L.-; ~ , ~ LATE CHARGE: At Lender's option. Bon:ower will pay a "late charge" not exceeding four p(:r cet1tum (4%) or the overdue payment when paid more than tifteen (15) days after the due date th~reofto cover the extra ex¡x.."'T\$e involved in handling delinquent payments, but 9UC\1 "Iatë charge" shall nm be payable out of the proceeds 01' any sale made to satiiìfy the indebtedness secured hereby, unless such proceeds a¡,e sufficient to dischargo the entire indebtedness and all proper costs and expenses sécured hereby, GUARANTY: Should the Department of Veterans Affairs fail or refuse to i!'!'\le its guaranty in full amount within 60 days from the date that this loan would n:mnaUy become èligible for such guaranty committed upört by the Department or Veterans Affairs under the provisioJ)S of Titlt: 38 of the U.S, Code "Vewrans Benetíts." the Mongagee may declare the indebtedness hereby secured at once due and payable and may foreclose immediately or may exercis/'\ any other rights hereund~r or take any other proper action <IS by law pIovidéd. TRANSFER OF THE PROPERTY: This loan may be declared immedi.uely due and payable upon transfer of the property securing such loan to any t.ransfeœe, unless thl; acceptabilhy of the assumption of the loan is established pursuant to Section 3714 of Chapter 37, Title 38, United States Codo. An authorized u'ansfer ("assumption") of the property shall al~o be subject to additional covenants and agreements as set forth below: (a) ASSUMPTION FUNDING FEE: A fee equal to one-half of one percent (0,5 %) of !:he balance: of this loan as of the dale of transfer:)! the propc:rty shall be payable at the time of transfc¡, to the loan holder or its authorized agent, as tmstee for the Dep'lnment of Vetl;rans Affairs. H the assumer fails to pa}' th1s fee at the time of transfer, the fce shall conslinHt an additional debt to that already secured by this instrument, shall bear interest at the rate hl;réin provided, and, at the option of the payee of th/,\ 1ndebtedness heœby secured or any transferl;c thereof, shaH be immediately dUI; and payable. This fee is automatically waived if the assumer is exempt under the provisions of 38 U ,S.C. 3729 (c). (h) ASSI.JMPTION PROCESSING CHARGE: Upon application for approval to allow as~umptîon of this loan. a processing fee may be charged by the loan holdeI' Dr its authorized asent for determining the creditworthiness of thl: a.~!'umer and subsequently revising the holder's ownership records when an approved transfer is completed, 'the amollm of this charge shaH not exceed thl: maximum established by the Depanment of Veterans Affairs for a loan to whicl1 Section 3114 of Chapter 37, Title 38, United State:> Code applies. (c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then the asslImer hereby agrees to assume all of the obligations 01' the veteran under the teons of the instmments creating and securing the loan. The assumer furtber agrees to indenmil'y the Department of Veterans Affairs 10 the Clttent of any claim payment arising from the guaranty or insurance of tbe indebtedness created by this instrument. . -S38R 103 t 01 @ Pago 2 of 3 k;,;.,,,g a' ~,}¡ ,'{ E";~ ~;~. f',,', .t' .....1...,.. ~-:' C..... '.' .,:.: ~..J'I ,r' : ì r. " .' . ,.,. , ., 6 '.,' L/ t. c..... l... , IN WITNESS WHEREOF, Borrower(s) has I:xecuted this ~ A Guaranteed Loan and Assumption Policy Rider. ~ RICHARD L POLLITT -ßOITLlw/:t ·BolTl)wc:r -BorròWer ·Ðorrowc:r ~,Qo\\M -Borrowo:r -Bòtrowel' -Burrower -Borrowòt _-63BA 10310) Page 3 01 3 [I[~im¡i{;f~)