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After Recording Return To:
FIRST NATIONAL BANK WEST
ED PDX 3110
ALPINE, WYCMING 83128
Loan NUmber: 128674897
RECEIVED 6/14/2006 at 3:56 PM
RECEIVING # 919328
BOOK: 623 PAGE: 257
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[Space Þbove This Une For ~orcing Data]
MORTGAGE
MIN: 100015700068790902
DEFINITIONS
Words used in multiple sections of this clocum:nt are defined below and other \\{)rds are defined in Sections 3, 11,
13, 18, 20 and 21. Certain rules regarding the usage of \\{)rds used in this dOCUIreJ.1t are also provided in Section 16.
(A) 'Secmity Instrwœnt" rœans this docurrent, \\hich is dated JUNE 13, 2006 , together
" \\ith all Riders to this docurrent.
- (B) ''Bonmver''is MICHAEL L MCroNALD AND KAYLENE MCroNALD, HUSBAND
AND WIFE
'"l Borro\\ef is the rrortgagor under this Sectrity Instn.nnnt.
(q 'MERS" is Mortgage Electronic Registration System;, Inc. MERS is a separate corporation that is acting
solely as a nominee for Lender and Lender's successors and assigns. MERS is the ß1011gagee under this Secmity
Instnuœnt. MERS is organized and existing under the laWì of Delaware, and has an address and telephone number
ofP.O Box 2026, Flint, :MI 48501-2026, tel. (888) 679-MERS,
(D) "Lender" is FIRST NATIONAL BANK WEST
Lender is a A NATIONAL BANKING ASSCCIATION
and existing under the laWì of WYCMING
Lender's address is 100 GREYS RIVER ROAD, ALPINE, WYCMING 83128
organized
(E) "Note" IreanS the promiSSOI)' note signed by Borro\\ef and dated JUNE 13, 2006
The Note states that Borro\\er 0\\eS Lender TWO HUNDRED EIGìTY-EDUR THOUSAND AND
00/100 Th>IIars (U.S. $ 284,000.00 ) plus interest.
Borro\\ef has promised to pay this debt in regular Periodic Payrœnts and to pay the debt in filiI not later than
JULY 1, 2021 .
(F) "Property" rœans the property that is described below under the heading "Transfer of Rights in the Property. "
(G) "I...oan"IreanS the debt evidæced by the Note, plus interest, any prepay¡rent charges and late charges due under
the Note, and all SI.IITB due under this Sectrity Inst:n.urent, plus interest,
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(II) "Riders" Ire.anS all Riders to this Security Instnnrent that are executed by B.xrov.er. The following Riders are
to be executed by Borrov.er [check box as applicable]: ,
o Adjustable Rate Rider
o Balloon Rider
o 1-4 Farrily Rider
o CondominiumRider
o Plarmed Unit Developmmt Rider
o Biv.eekly PaytreI1t Rider
o Second Harre Rider
o Other(s) [specify]
(I) '~plicable Law" Ire.anS all controlling applicable federal, state and local statutes, regulations, ordinances and
~nistrative rules and orders (that have the effect of law) as v.ell as all applicable final, non-appealable judicial
OpllliOns.
(J) "Comnnmity Association Dues, Fees, and Assessments"Ire.anS all dues, fees, assessrrents and other charges
that are il1lJOsed on Borrov..er or the Property by a condominium association, hOIreOWlers association or similar
organization.
(K) ''Electronic Funds Transfer" Ire.anS any transfer of fimds, other than a transaction originated by check, draft,
or similar paper instruIm1t, v..hich is initiated through an electronic tenninal, telephonic Înstrurm1t, cofI1)uter, or
magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an aCCOlmt. Such tenn
includes, but is not limited to, point-of-sale transfers, autOImted teller machine transactions, transfers initiated by
telephone, wire transfers, and automated clearinghouse transfers,
(L) "Escrow Items" Ire.anS those iterm that are described in Section 3.
(M) "Miscellaneous Proceeds" Ire.anS any coII1JeIlSatÎon, settlerœnt, a\Wd 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) condennation or other taking of all or any part of the Property; (iii) conveyance in
lieu of condennation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
(N) "Mortgage Insurance" Ire.anS insurance protecting Lender against the nonpayment of, or default on, the Loan.
(0) "Periodic Paymmt" Ire.anS the regularly scheduled armunt due for (i) principal and interest under the Note,
plus (ii) any armunts under Section 3 of this Security Instrurœnt.
(P) 'RFSPA" Ire.anS the Real Estate Settlem:nt Procedures Act (12 U. S. C §2601 et seq.) and its irrplerœnting
regulation, Regulation X (24 CF.R Part 35(0), as they might be arrended ITom tirre to tirre, or any additional or
sucœssor legislation or regulation that governs the sarre subject matter, As used in this Security Instrurœnt,
"RESP A" refers to all requirem:nts and restrictions that are il1lJOsed in regard to a "federally related rmrtgage loan"
even if the Loan does not qualify as a "federally related rmrtgage loan" under RESP A
(Q) 'Successor in Interest of BolTOwer" mæns any party that has taken title to the Property, v..hether or not that
party has assurœd Borrov.er' s obligations under the Note and/or this Security Instrurrent.
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TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrurœnt secures to Lender: (i) the repayrœnt of the Loan, and all rene\VcÙs, extensions and
tmdifications of the Note; and (ii) the perfonnance of Borro\\er' s covenants and agreeIrel1ts under this Security
Instrurœnt and the Note, For this purpose, Borro\\er does hereby rmrtgage, grant and convey to MERS (solely as
nominee for Lender and Lender's successors and assigns) and to the successors and assigns ofMERS, with povær of
sale, the following described property located in the
COUNI'Y of LINCOIN
[T of ~ding Jurisdiction] [Nure of Rtrording Jurisdiction]
Iill 4 OF mill FICWER ESTATES LINCOIN COUNI'Y WYŒ1ING"AS
DESCRIBED ON THE OFFICIAL PLÁT NO. 198-B FIŒD ON SEPI'EMBER 26
2003 "AS INS'IRUMENT NO.893865 OF THE RECORDS OF THE LINCOIN co6NrY
ClERK.
\\hich currently has the address of
170 BRAVES ROAD
[Street]
AFION
[City]
, \\Yoming
83110 ("Property Address"):
[Zip Code]
TOCìEIHER WITH all the il11JroveIrel1ts now or hereafter erected on the property, and all easeIrel1ts,
appurtenances, and fixtures now or hereafter a part of the property. All replacerrents and additions shall also be
covered by this Security Instrurœnt All of the foregoing is referred to in this Security Instrurrrnt as the "Property. "
BorrO\\er understands and agrees that.MERS holds only legal title to the interests granted by Borrov-er in this Security
Instn.nœnt, but, if necessary to col11Jly 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 amceling
this Security Instrurnnt.
BORRO\VER COVENANTS that Borro\\er is lawfully seised of the estate hereby conveyed and has the right
to rmrtgage, grant and convey the Property and that the Property is unenClll1Ùered, except for enc11I1i>rances of
record Borro\\er \VcUTants and will defend generally the title to the Property against all claim; and demands, subject
to any enCUIIÌJrances of record
TIllS SECURITYINSIRUMENT corrbines unifoffil covenants for national use andnon-unifoffilcovenants with
limited variations by jurisdiction to constitute a unifoffil security instn.nrent covering real property.
UNIFORM COVENANTS. Borrov-er and Lender covenant and agree as follows:
1. Pay¡œnt of Principal, Interest, Escrow Items, Prepay¡œnt Omrges, and late OIm-ges. Borrov-er shall
pay \\l1en due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late
charges due under the Note. Borro\\er shall also pay fimds for Escrow Item; pursuant to Section 3. Payrœnts due
under the Note and this Security Instnnrent shall be tmde in U. S. currency. Hov.ever, if any check or other
instn.nrent received by Lender as payrrent under the Note or this Security Instnnrent is returned to Lender unpaid,
Lender may require that any or all subsequent payrrents due under the Note and this Security Instnnrent be rnadein
one onrore of the following fOl1115, as selected by Lender: (a) cash; (b) rroney order; (c) certified check, bank check,
treasurer's check or cashier's check, provided any such check is draW1 upon an institution \\hose deposits are insured
by a federal agency, instn.nrentality, or entity; or (d) Electronic Funds Transfer.
Payrrents are deerœd received by Lender \\hen 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 return
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any payrœnt or partial payrrmt if the payrœnt or partial payrrmts are insufficient to bring the Loan ClnTent. Lender
may accept any payrrmt or partial paym:nt insufficient to bring the Loan ClnTent, without \V<1Íver of any rights
hereooder or prejudice to its rights to refuse such payrrmt or partial payrœnts in the future, but Lender is not
obligated to apply such paynHlts at the tirre such paynHlts are accepted If each Periodic PaynHlt is applied as of
its scheduled due date, then Lender need not pay interest on ooapplied ftmds. Lender may hold such ooapplied ftmds
ootil Borro\\er makes paym:nt to bring the Loan ClnTent. IfBorro\\er does not do so within a reasonable period of
tirre, Lender shall either apply such funds or return them to BorrO\/ver, If not applied earlier, such ftmds will be
applied to the outstanding principal balance ooder the Note imrrediately prior to foreclosure. No offset or claim
Wri ch Borro\lver might have now or in the future against Lender shall reli eve Borro\\er ITom making payrœnts due
ooder the Note and this Security In.strurrent or performing the covenants and agreements secured by this Security
Instrurrent
2. Application of Payrœnts or Proceeds. Except as otherwise described in this Section 2, all payrœnts
accepted and applied by Lender shall be applied in the follo\\Ù1g order of priority: (a) interest due ooder the Note;
(b) principal due ooder the Note; (c) 8ffiJoots due ooder Section 3. Such paym::nts shall be applied to each Periodic
Payrœnt in the order in Wrich it becaIre due. Any rermining 8ffiJoots shall be applied first to late charges, second
to any other 8ffiJoots due ooder this Security In.strurrent, and then to reduce the principal balance of the Note.
If Lender receives a paym::nt ITom Borro\\er for a delinquent Periodic Payrœnt Wrich includes a sufficient
8ffiJoot to pay any late charge due, the paym::nt may be applied to the delinquent payrœnt and the late charge. If
nne than one Periodic Payrrmt is outstanding, Lender may apply any payment received ITom Borro\\er to the
repayrœnt of the Periodic Payrœnts if, and to the extent that, each payment can be paid in fulL To the extent that
any excess exists after the payrrmt is applied to the full payrrmt of one or l1Dre Periodic Payrrmts, such excess may
be applied to any late charges due. Volootary prepayrrmts shall be applied first to any prepayrœnt charges and then
as described in the Note.
Any applicatjon of paynHlts, insurance proceeds, or Miscellaneous Proceeds to principal due ooder the Note
shall not extend or postpone the due date, or change the 8ffiJoot, of the Periodic Payrœnts.
3. FUnds for Escrow Item;. Borro\\er shall pay to Lender on the day Periodic Payrœnts are due ooder the
Note, ootil the Note is paid in full, a sum (the "Ftmds") to provide for payment of 8ffiJtmts due for: (a) taxes and
assessrrents and other item; Wrich can attain priority over this Security In.strurrent as a lien or encumbrance on the
Property; (b) leasehold payments or groood rents on the Property, if any; (c) premium; for any and all insurance
reqlÚred by Lender ooder Section 5; and (d) :Mortgage Insurance premium;, if any, or any sum; payable by Borro\\er
to Lender in lieu of the paynHlt of :Mortgage Insurance premium; in accordance with the provisions of Section 10.
These item; are called "Escrow Item;," At origination or at any tirre during the tenn of the Loan, Lender may reqlÚre
that Community Association Dues, Fees, and Assessrrents, if any, be escrovæd by Borro\\er, and such dues, fees and
a.ssessIrents shall be an Escrow Item Borro\\er shall prorrptIy furnish to Lender all notices of 8ffiJoots to be paid
ooder this Sectioll Borro\\er shall pay Lender the Foods for Escrow Item; unless Lender \V<1Íves Borro\lver's
obligation to pay the Ftmds for any or all Escrow Item;. Lender may \VcIÏve Borro\lver' s obligation to pay to Lender
Foods for any or all Escrow Item; at any tirre. Any such \VcIÏver may only be in writing. In the event of such \V<1Íver,
Borro\lver shall pay directly, Ñlen and Ñlere payable, the 8ffiJoots due for any Escrow Item; for Wrich payrœnt of
Foods has been \V<1Íved by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payrœnt
witI1in such tirre period as Lender may require. Borro\lver' s obligation to make such payrœnts and to provide receipts
shall for all purposes be deerred to be a covenant and agreement contained in this Security Instn.nrent, as the phrase
"covenant and agreement" is used in Section 9. If Borro\\er is obligated to pay Escrow Item; directly, pursuant to
a \VcIÏver, and Borro\\er fails to pay the 8ffiJoot due for an Escrow Item, Lender may exercise its rights lll1der Section
9 and pay such 8ffiJtmt and Borro\\er shall then be obligated ooder Section 9 to repay to Lender any such 8ffiJOOt.
Lender may revoke the \VcIÏver as to any or all Escrow Item; at any tirre by a notice given in accordance with Section
15 and, upon such revocation, Borro\lver shall pay to Lender all Foods, and in such 8ffiJoots, that are then required
ooder this Section 3.
Lender may, at any tirre, collect and hold Foods in an 8ffiJoot (a) sufficient to pennit Lender to apply the Foods
at the tirre specified ooder RESP A, and (b) not to exceed the maxim.nn 8ffiJoot a lender can require ooder RESP A
Lender shall estimate the 8ffiJoot of Foods due on the basis of cment data and reasonable estimates of expenditures
of future Escrow Item:; or otherwise in accordance with Applicable Law:
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The Foods shall be held in an instiMion \\hose deposits are insured by a federal agency, instrurœntality, or
entity (including Lender, if Lender is an ÎnstiMion \\hose deposits are so insured) or in any Federal Harre Loan
Bank Lender shall apply the Foods to pay the Escrow Iterm no later than the tirre specified ooder RESP A Lender
shall not charge Borro\\er for holding and applying the Foods, annually analyzing the escrowaccooot, or verifying
the Escrow Iterm, unless Lender pays Borro\\ef interest on the Foods and Applicable Law permits Lender to rrnke
such a charge. Unless an agreeIm1t is made in \Wiring or Applicable Law requires interest to be paid on the Foods,
Lender shall not be required to pay Borro\\er any interest or earnings on the Foods. Borro\\er and Lender can agree
in writing, hovæver, that interest shall be paid on the Funds. Lender shall give to Borro\\'er, without charge, an
annual accolR1ting of the F lR1ds as required by RESP A
If there is a surplus ofFlR1ds held in escrovv, as defined lR1der RESPA, Lender shall accolR1t to Borro\\er for
the excess funds in accordance with RESP A If there is a shortage ofFlR1ds held in escrow, as defined lR1der RESP A,
Lender shall notify Borro\\er as required by RESP A, and Borrov.er shall pay to Lender the arrolR1t necessary to rrnke
up the shortage in accordance with RESPA, but in no ITDre than 12 ITDnthly paynmts, If there is a deficiency of
F lR1ds hel d in escrow, as defined lR1der RESP A, Lender shall notify Borro\\er as required by RESP A, and Borro\\er
shall pay to Lender the arrolR1t necessary to rmke up the deficiency in accordance with RESPA, but in no ITDre than
12 ITDnthly paymnts.
Upon payrrent in full of all Sl.Il'IE secured by this Security Instrurrent, Lender shall promptly refund to Borro\\er
any FlR1ds held by Lender.
4. Otargesj Uens. BorroYler shall pay all taxes, asses.srrents, charges, fines, and iI11JOsitions attributable to
the Property v.hich can attain priority over this Security Instrurrent, leasehold paynmts or grolR1d rents on the
Property, if any, and Conmmity Association Dues, Fees, and Assessrrents, if any. To the extent that these iterm
are Escrow Iterm, Borro\\er shall pay them in the manner provided in Section 3.
Borro\\er shall prorrptly discharge any lien v.hich has priority over this Security Instrurrent tmless Borro\\er:
(a) agrees in 'Miting to the paynmt of the obligation secured by the lien in a manner acceptable to Lender, but only
so long as Borro\\ef is performing such agreellHlt; (b) contests the lien in good faith by, or defends against
enforceIm1t of the lien in, legal proceedings v.hich in Lender's opinion operate to prevent the enforcerrent of the lien
\\hile those proceedings are pending, but only lR1til such proceedings are concluded; or (c) secures rrom the holder
of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrurrent. If Lender
determines that any part of the Property is subject to a lien \\hich can attain priority over this Security Instrurrent,
Lender rmy give Borro\\ef a notice identi.fying the lien. Within 10 days of the date on v.hich that notice is given,
Borro\\er shall satisfy the lien or take one or ITDre of the actions set forth above in this Section 4.
Lender rmy require Borro\\er to pay a one-tirre charge for a real estate tax verification and! or reporting service
used by Lender in connection with this Loan.
5. Property Insurance. Borrov..er shall keep the improvellHlts now existing or hereafter erected on the
Property insured against loss by fire, hazards included witlrin the tenn "extended coverage," and any other hazards
including, but not limited to, earthquakes and floods, for v.hich Lender requires insurance. This insurance shall be
maintained in the arrolR1ts (including deductible levels) and for the periods that Lender requires. VAlat Lender
requires pursuant to the preceding sentences can change during the tenn of the Loan. The insurance cani er provi ding
the inSurance shall be chosen by Borro\\er subj ect to Lender's right to disapprove Borro\\er' s choi ce, v.hich right shall
not be exercised unreasonably, Lender rmy require Borrov..er to pay, in connection with this Loan, either: (a) a one-
tirre charge for flood zone determination, certification and tracking services; or (b) a one-titre charge for flood zone
determination and certification services and subsequent charges each tirre remappings or similar changes occur v..hich
reasonably might affect such determination or certification. Borrovær shall also be responsible for the paym::nt of
any fees irrposed by the Federal Errergency Managerœnt Agency in connection with the review of any flood zone
determination resulting from an objection by Borro\\er.
IfBorro\\er fails to rmintain any of the coverages described above, Lender rmy obtain insurance coverage, at
Lender's option and Borro\\er' s expense. Lender is lR1der no obligation to purchase any particular type or arn.JlR1t
of coverage. Therefore, such coverage shall cover Lender, but might or might not protect BorroVlff, Borro\\er's
equity in tl1eProperty, or the contents of the Property, against any risk, hazard or liability and might provide greater
or lesser coverage than \Vas previously in effect. Borrovær acknov..iedges that tl1e cost of the insurance coverage so
obtained might significantly exceed the cost of insurance that Borro\\er could have obtained. Any arrolR1ts disbursed
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by Lender under this Section 5 shall beoorre additional debt ofBorrov.er secured by this Security Instrurrent. These
armunts shall bear interest at the Note rate ITom the date of disburserœnt and shall be payable, with such interest,
upon notice ITom Lender to Borrov.er requesting payrœnt.
All insurance policies required by Lender and rene\~s of such policies shall be subject to Lender's right to
disapprove such policies, shall include a standard rmrtgage clause, and shallllilIre Lender as rmrtgagee and/or as an
additional loss payee. Lender shall have the right to hold the policies and rene\.VcÙ certificates, If Lender requires,
Borrov.er shall prorrptIy give to Lender all receipts of paid premiums and rene\.VcÙ notices. IfBorrov.er obtains any
fonn of insurance coverage, not otherwise required by Lender, for darmge to, or destruction of: the Property, such
policy shall include a standard rmrtgage clause and shall narre Lender as rmrtgagee and/or as an additional loss
payee.
In the event ofloss, Borrov.er shall give prompt notice to the insurance carrier and Lender. Lender may make
proof of loss if not made prorrptly by Borrov.er. Unle',s Lender and Borrov.er otherwise agree in writing, any
insurance proceeds, Mether or not the tmderlying insurance was required by Lender, shall be applied to restoration
or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened
During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
has had an opportunity to inspect such Property to ensure tIle v..ork has been corrpleted to Lender's satisfaction,
provided that such inspection shall be tmdertaken prolTfJtly. Lender may disburse proceeds for the repairs and
restoration in a single payrœnt or in a series of progress payrœnts as the v..ork is completed Unless an agreerœnt
is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, tender shall not be
required to pay Borrov.er any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
retained by Borrov.er shall not be paid out of the insurance proceeds and shall be the sole obligation ofBorroVler.
If the restoration or repair is not economically feasible or Lender's security v..ould be lessened, the insurance proceeds
shall be applied to the S1ll1E secured by this Security Instnnrent, Mether or not tllen due, with the excess, if any, paid
to BorroVler. Such insurance proceeds shall be applied in tIle order provided for in Section 2,
If Borrov.er abandons the Property, Lender may file, negotiate and settle any available insurance claim and
related matters. IfBorroVler does not respond within 30 days to a notice ITomLender that the insurance carrier has
offered to settle a claim, then Lender may negotiate and settle the claim The 30-day period will begin Men the
notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrov.er hereby
assigns to Lender (a) Borrov.er's rigllts to any insurance proceeds in an armunt not to exceed the arrounts unpaid
under the Note or this Security Instnnrent, and (b) any other ofBorrov.er' s rights (other than the right to any refund
of unearned premiums paid by Borrov.er) under all insurance policies covering the Property, insofar as such rights
are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
Property or to pay arrounts unpaid under the Note or this Security Instrurrent, Mether or not then due.
6. Occupancy. Borrov.er shall occupy, establish, and use the Property as BorroVler's principal residence
within 60 days after the execution of this Security Instrurœnt and shall continue to occupy the Property as BorroVler' s
principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, \\hicll
consent shall not be unreæonably withheld, or unless extenuating circum;tances exist \\hich are beyond Borro'\\ef' s
control.
7. Preservation, Maintenance and Protection of the Propeliyj hlSpectiOns. Borrov.er shall not destroy,
damage or irrpair the Property, allow the Property to deteriorate or corrrnit \VcIste on the Property. Whether or not
BorroVler is residing in the Property, Borro'\\ef shall maintain the Property in order to prevent the Property ITom
deteriorating or decreasing in value due to its conditioIl Unless it is determined pursuant to Section 5 that repair or
restoration is not economically feasible, BorroVler shall prorrptly repair the Property if darmged to avoid further
deterioration or darmge. If insurance or condermation proceeds are paid in connection with damage to, or the taking
of: the Property, Borro'\\ef 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 paym;nt or in
a series of progress paym;nts as the W)rk is corrpleted If the insurance or condemnation proceeds are not sufficient
to repair or restore the Property, BorroVler is not relieved ofBorroVler' s obligation for the corrpletion of such repair
or restoratioIl
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Lender or its agent may make reasonable entries upon and inspections of the Property, If it has reasonable cause,
Lender may inspect the interior of the iIq)rove.rrents on the Property. Lender shall give Borro\'œr notice at the tirre
of or prior to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan AppIicatiolL Borro\'œr shall be in default if, during the Loan application process,
Borro\'œr or any persons or entities acting at the direction ofBorro\'œr or \\ith Borro\\ef' s know.edge or consent gave
materially false, nisleading, or inaccurate information or state.rrents to Lender (or failed to provide Lender with
material information) in connection with the Loan. Material representations include, but are not linited to,
representations concerning furro\\ef' s occupancy of the Property as furro\\ef' s principal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Secwity Instnllœnt. If (a)
Borro\'œr fails to perfOffil the rovenants and agree.rrents rontained in this Security Instnnnent, (b) there is a legal
proœedingthat night significantly affect Lender's interest in the Property and/or rights under this Security Instnnnent
(such as a proceeding in bankruptcy, probate, for rondermation or forfeiture, for enforce.rrent of a lien vJrich may
attain priority over this Security Instrurrent or to enforce law; or regulations), or (c) Borro\'œr has abandoned the
Property, then Lender may do and pay for v.hatever is reasonable or appropriate to protect Lender's interest in the
Property and rights tmder this Security Instrurrent, including protecting and/or assessing the value of the Property,
and securing and/or repairing the Property. Lender's actions can include, but are not linited to: (a) paying any sum;
secured by a lien vJrich has priority over this Security Instrurrent; (b) appearing in court; and (c) paying reasonable
attorneys' fees to protect its interest in the Property and/or rights tmder this Security Instnnnent, including its secured
position in a bankruptcy proceeding. Securing the Property includes, but is not linited to, entering the Property to
make repairs, change locks, replace or board up,doors and window;, drain \VcIter from pipes, elininate building or
other code violations or dangerous ronditions, and have utilities turned on or off Although Lender may take action
under this Section 9, Lender does not have to do so and is not tmder any duty or obligation to do so. It is agreed that
Lender incurs no liability for not taking any or all actions authorized tmder this Section 9,
Any aIIDtmts disbursed by Lender tmder this Section 9 shall becorre additional debt offurro\'œr secured by this
Security Instnnnent. These aIIDtmts shall bear interest at the Note rate from the date of disburse.rrent and shall be
payable, with such interest, upon notice from Lender to furrO\'œr requesting payrœnt.
If this Security Instrurœnt is on a leasehold, furro\'œr shall comply with all the provisions of the lease. If
Borro\\ef acquires fee title to the Property, the leasehold and the fee title shall not rrerge unless Lender agrees to the
rrerger in writing.
10. Mortgage Insurance. If Lender required Nbrtgage Insurance as a condition of making the Loan, furro\'œr
shall pay the premium; required to maintain the Mortgage Insurance in effect, If, for any reason, tl1e Mortgage
Insurance roverage required by Lender ceases to be available from the lIDrtgage insurer that previously provided such
insurance and furro\\ef was required to make separately designated payrœnts toward the prenium; for Mortgage
Insurance, furro\'œr shall pay the preni1.1lIE required to obtain coverage substantially equivalent to the Mortgage
Insurance previously in effect, at a cost substantially equivalent to the rost to furro\'œr of the Mortgage Insurance
previously in effect, from an alternate lIDrtgage insurer selected by Lender. If substantially equivalent Mortgage
Insurance roverage is not available, furro\'œr shall rontinue to pay to Lender the aIIDtmt of the separately designated
payrœnts that \'œre due v.hen the insurance roverage ceased to be in effect. Lender will accept, use and retain these
payrœnts as a non-reftmdable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refimdable,
notwithstanding the fact that the Loan is wtimately paid in full, and Lender shall not be required to pay Borro\'œr any
interest or earnings on such loss reserve. Lender can no longer require loss reserve payrœnts if Mortgage Insurance
coverage (in the aIIDunt and for the period that Lender requires) provided by an insurer selected by Lender again
becoIreS available, is obtained, and Lender requires separately designated payrœnts toward the prenium; for
Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and furro\'œr was
required to make separately designated payrœnts to\\'ard the prenium; for Mortgage Insurance, Borro\\:er shall pay
the prenium; required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, tmti1
Lender's requireIreI1t for Mortgage Insurance ends in accordance with any written agree.rrent betv.een furro\'œr and
Lender providing for such temination or tmtil temination is required by Applicable La\¥. Nothing in this Section
10 affects furro\'œr's obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reirrburses Lender (or any entity that purchases the Note) for certain losses it may incur
if furro\'œr does not repay the Loan as agreed furro\'œr is not a party to the Mortgage Insurance.
furro\\lT Initials: ~ \~
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Mortgage insurers evaluate their total risk on all such insurance in force from tirre to tirre, and nny enter into
agreerrents Vvith other parties that share or mxlify their risk, or reduce losses. These agreerrents are on term; and
conditions that are satisfactory to the rmrtgage insurer and the other party (or parties) to these agreerrents. These
agreerœnts nny require the rmrtgage insurer to make payrœnts using any source of fimds that the rmrtgage insurer
may have available (Wlich may include fimds obtained from Mortgage Insmance premiums).
As a result of these agreerœnts, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
entiÍ'j, or any affiliate of any of the foregoing, may receive (directly or indirectly) ærnlIDts that derive from (or might
be characterized as) a portion ofBorro\\-er' s payrœnts for Mortgage Insmance, in exchange for sharing or rmdifying
the rmrtgage insurer's risk, or reducing losses, If such agreerœnt provides that an affiliate of Lender takes a share
of the insurer's risk in exchange for a share of the premium; paid to the insurer, the arrangerœnt is often terrœd
"captive reinsurance." Further:
(a) Any such agreerœnts will not affect the amounts that Borrower h.'1S agreed to pay for Mortgage
Insurance, or any other tenns of the Loan. Such agreelœllts will not incn~ase the amount Bonower will owe
for Mor1gage Insurance, and they will not entitle Borrower' to any refund
(b) Any such agreerœnts will not affect the rights Borrower has - if any - "ith respect to the Mortgage
Ins1mll1ce under the Horœowner¡; 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 automatirnIly, and! or to receive a refund of any Mortgage Ins1mll1ce premium;
that ,vere unearned at the tirœ of such cancellation or termination.
11. Assignrœnt of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
and shall be paid to Lender,
If the Property i~ damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
if the restoration or repair is economically feasible and Lender's sectuity is not lessened During such repair and
restoration period, Lender shall have the right to hold such Miscellaneous Proceeds lIDtil Lender has had an
opportunity to inspect such Property to ensure the oork has been completed to Lender's satisfaction, provided that
SUd1 inspection shall be lIDdertaken promptly. Lender may pay for the repairs and restoration in a single disburserrent
or in a series of progress payrœnts as the \\Ork is con1>leted Unless an agreerrent is made in writing or Applicable
Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrov.er any
interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
Lender's security oouId be lessened, the Mscellaneous Proceeds shall be applied to the SlUTS secured by this Security
lnstrurm1t, v.bether or not then due, Vvith the excess, if any, paid to Borro\\-ef. Such Miscellaneous Proceeds shall
be applied in the order provided for in Section 2,
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
applied to the sums secured by this Security lnstrurm1t, v.bether or not then due, Vvith the excess, if any, paid to
Borro\\-er.
In the event of a partial taking, destruction, or loss in value of the Property in Wlich the fair market value of
the Property ill1Irediately before the partial taking, destruction, or loss in value is equal to or greater than the ærnlIDt
of the SlUTS secured by this Security Instrurrent ill1Irediately before the partial taking, destruction, or loss in value,
unl ess Borrov,er and Lender otherwise agree in writing, the SlUTS secured by this Security lnstrurm1t shall be reduced
by the ærnlIDt of the Mscellaneous Proceeds multiplied by the follov.ing fraction: (a) the total ærnlIDt of the SlUTS
secured ill1Irediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
Property ill1Irediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borro\\-ef.
In the event of a partial taking, destruction, or loss in value of the Property in Wlich the fair market value of
the Property ill1Irediately before the partial taking, destruction, or loss in value is less than the ærnlIDt of the SlUTS
secured ill1Irediately before the partial taking, destruction, or loss in value, unless Borrov.er and Lender otherwise
agree in writing, the Miscellaneous Proceeds shall be applied to the SlUTS secured by this Security lnstrurm1t W1ether
or not the SlUTS are then due.
If the Property is abandoned by Borro\\-er, or if, after notice by Lender to Borrov.er that the Opposing Party (as
defined in the next sentence) offers to make an a'Mlfd to settle a claim for damages, Borro\\-er fails to respond to
Lender Vvithin 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
Proceeds either to restoration or repair of the Property or to the SI.IIlB secured by this Security lnstrurm1t, v.hether
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WfCMJl\G-Snde Fæi y--Rme Mae/Fred'e Mac LNRH,1 INSTILMENr - MER;
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or not then due. "~sing Party" rreans the third party that ov.es Borrov..er Miscellaneous Proceeds or the party
against \\horn Borrov..er has a right of action in regard to Mscel1aneous Proceeds,
Borrov..er shall be in default if any action or proceeding, \\hether civil or criminal, is begun that, in Lender's
judgrrent, could result in forfeiture of the Property or other material irrpairrœnt of lender' s interest in the Property
or rights under this Security I:nstrurrent. Borrov..er can cure such a default and, if acceleration has OCClHTed, reinstate
as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
judgzrent, precludæ forfeiture of the Property or other material irrpairrœnt of Lender' s interest in the Property or
rights under this Security I:nstrurrent. The proceeds of any a\Vclrd or claim for dmmgæ that are attributable to the
impairrœnt of Lender' s interest in the Property are hereby assigned and shall be paid to lender.
All Mscel1aneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
order provided for in Section 2,
12. BoITOWer Not Released; Forbearance By Lender Not a Waiver. Extension of the tirœ for payrrent or
mxJification of armrtization of the sum; secured by this Security I:nstrurrent granted by Lender to Borrov..er or any
Successor in Interest of Borrov..er shall not operate to release the liability ofBorrovær or any Successors in Interest
of Borrov..er. Lender shall not be required to corrnrence proceedings against any Successor in Interest ofBorrov..er
or to refuse to extend tirœ for payrrent or otherwise rmdifY armrtization of the sums secured by this Security
I:nstrurrent by reason of any demand rrnde by the original Borrov..er or any Successors in Interest ofBorrov..er. Any
forbearance by Lender in exercising any right or rerœdy including, without limitation, Lender's acceptance of
payrrents ITorn third persons, entitiæ or Successors in Interest ofBorrov..er or in armunts less than the armunt then
due, shall not be a\VcIÍver of or preclude the exe.rcise of any right or rerœdy.
13. Joint and Several liability; Co-signers; SUCcessOl~ and Assigns Bolll1d Borrov..er covenants and agrees
that Borrov..er' s obligations and liability shall bejoint and several. HO\\eVer, any Borrov..er \\ho co-signs this Security
Instrurœnt but does not execute the Note (a II co-signer"): (a) is co-signing this Security Instrurœnt only to rmrtgage,
grant and convey the co-signer' s interest in the Property under the tel1l15 of this Security lnstn.nrent; (b) is not
personally obligated to pay the sum; secured by this Security Instn.urent; and (c) agrees that Lender and any other
Borrov..er can agn~ to extend, rmclifY' forbear or make any accommdations with regard to the term; of this Security
Instn.urent or the Note without the co-signer' s consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower \\ho assurœs Borrov..er's
obligations under this Security Instn.urent in writing, and is approved by Lender, shall obtain all ofBorrov..er' s rights
and benefits under this Security I:nstrurrent. Borrov..er shall not be released ITornBorrov..er' s obligations and liability
under this Security I:nstrurrent unless Lender agrees to such release in writing. The covenants and agreerrents of this
Security Instn.urent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender.
14. Loan Outrges. Lender may charge Borrov..er fees for services perforrred in connection with Borrov..er' s
default, for the purpose of protecting lender's interest in the Property and rights under this Security Instrurrent,
including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the
absence of express authority in this Security I:nstrurrent to charge a specific fee to Borrov..er 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
Instrurœnt or by Appliailile Law
If the Loan is subject to aIawvJllch sets rnaximumloan chargæ, and that lawis finally interpreted so that the
interest or other loan chargæ col1ected or to be collected in connection with the Loan exceed the permitted limits,
then: (a) any such loan charge shall be reduced by the armunt necessary to reduce the charge to the permitted limit;
and (b) any sum; already collected ITorn Borrov..er vJllch exceeded permitted limits wil1 be refunded to Borro\\er.
Lender may choose to make this refund by reducing the principal ov.ed under the Note or by making a direct payrrent
to Borrov..er. If a refund reduces principal, the reduction will be treated as a partial prepayrœnt without any
prepayrrent charge (\\hether or not a prepayrrent charge is provided for under the Note). Borrov..er's acceptance of
any such refund made by direct payrœnt to Borrov..er will constitute a \VcIÍver of any right of action Borrov..er might
have arising out of such overcharge.
15. Notices. All notices given by Borrov..er or Lender in connection with this Security I:nstrurrent must be in
writing. Any notice to Borrov..er in connection with this Security Instrurrent shall be deem:xl to have been given to
Borrov..er \\hen mailed by first class mail or \\hen actually delivered to Borrov..er's notice address if sent by other
rreans. Notice to any one Borrov..er shall constitute notice to all Borrov..ers unless AppliailileLawexpressly requiræ
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otherwise. The notice address shall be the Property Address unless Borrovær has designated a substitute notice
address by notice to Lender. Borrovær shall proll1Jtly notify Lender of Borrovær' s change of address. If Lender
specifies a procedure forreporting Borrovær' s change of address, then Borrovær shall only report a change of address
through that specified procedure. There rmy be only one designated notice address under this Security Instrurrent
at anyone tiIre., 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 Borrovær. Any notice in connection
with this Security Instnnrent shall not be deerred to have been given to Lender until actually received by Lender.
If any notice required by this Security Instnnrent is also required under Applicable 1m¥, the Applicable law
requirerrent will satisfy the corresponding requirerrent under this Security Instnnrent.
16. Governing LaW; Severability; Rules of Construction. This Security In.stnurent shall be governed by
federal law and the law of the jurisdiction in Mich the Property is located All rights and obligations contained in
this Security Instnnrent are subj ect to any requirerœnts and limitations of Applicable law Applicable law might
explicitly or ill1Jlicitly allow the parties to agree by contract or it might be silent, but such silence shall not be
construed as a prohibition against agreerren.t by contract. In the event that any provision or clause of this Security
Instnnrent or the Note conflicts with Applicable La\¥, such conflict shall not affect other provisions of this Security
Instrurrent or the Note Mich can be given effect without the conflicting provision.
As used in this Security Instrurrent (a) \\{)rds of the masculine gender shall rœan and include corresponding
neuter \\{)rds or \\{)rds of the feminine gender; (b) \\{)rds in the singular shall rœan and include the plural and vice
versa; and (c) the \\{)rd "may" gives sole discretion without any obligation to take any action.
17. BolTOwer's Copy. Borrovær shall ~ given one copy of the Note and of this Security Instrurœnt.
18. Transfer of the Property or a Beneficial Interest in BolTOwer. As used in this Section 18, "Interest in
the Property" rœans 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, installrœnt sal es contract or escrowagreerœnt, the intent
of Mich is the transfer of title by Borrovær at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sol d or transferred (or if Borrovær is not a
natural person and a beneficial interest in Borrovær is sold or transferred) without Lender's prior \\fÏtten consent,
Lender rmy require imrœdiate pa:yrrent in full of all S\.lI11') secured by this Security Instrurrent. Hovæver, this option
shall not be exercised by Lender if such exercise is prohibited by Applicable law
If Lender exercises this option, Lender shall give Borrovær notice of acceleration. The notice shall provide a
period of not less than 30 days rromthe date the notice is given in accordance with Section 15 within \\hichBorrovær
must pay all S\.lI11') secured by this Security Instnnrent. IfBorrovær fails to pay these S\.lI11') prior to the expiration of
this period, Lender rmy invoke any rerredies permitted by this Security Instrurrent without further notice or demand
on Borrovær,
19. BolTOwer's Right to Reinstate Mter Acceleration. IfBorrovær Ireets certain conditions, Borrovær shall
have the right to have enforceIreflt of this Security Instnnrent discontinued at any tiIre prior to the earliest of (a)
five days before sal e of the Property pursuant to any povær of sale contained in this Security Instrurrent; (b) sucl1
other period as Applicable law might specify for the termination of Borrovær' s right to reinstate; or (c) entry of a
judgrrent enforcing this Security Instrurrent. Those conditions are that Borrovær: (a) pays Lender all S\.lI11') \\hich
then \\()uld be due under this Security Instnnrent and the Note as if no acceleration had occurred; (b) cures any default
of any other covenants or agreerœnts; (c) pays all expenses incurred in enforcing this Security Instnnrent, 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 Instnnrent; and (d) takes such
action as Lender rmy reasonably require to assure that Lender's interest in the Property and rights under this Security
Instrurrent, and Borrovær' s obligation to pay the S\.lI11') secured by this Security Instnnrent, shall continue unchanged
Lender rmy require that Borrovær pay such reinstaterœnt S\.lI11') and expenses in one or rmre of the following forms,
as selected by Lender: (a) cæh; (b) mmey order; ( c) certified check, bank check, treasurer's check or cashier's check,
provided any such check is drawn upon an institution \\hose deposits are insured by a federal agency, instrurrentality
or entity; or (d) ElectronicFtmds Transfer. Upon reinstaterœnt by Borrovær, this Security ~t and obligations
secured hereby shall remain fully effective as if no acceleration had occurred Hovæver, this right to reinstate shall
not apply in the case of acceleration under Section 18.
EoITo~er hútiaIs:
WYav1ll'JG-Snqle
Form 3051 1/0'1'
-Falnie MaelFredde Mac LNRRv1INSTRJMENT - MffiS
Page 10 of 14
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20. Sale of Note; Change of Loan Servicer; Notice of Gtievance. The Note or a partial interest in the Note
(together with this Security Instrurrent) can be sold one or rmre tirœs without priornotice to Borro\\er. A sale might
result in a change in the entity (kno\\n as the "Loan Servicer") that collects Periodic Paym:nts due tmder the Note
and this Security Instrurrent and perform; other rmrtgage loan servicing obligations tmder the Note, this Security
Instrurrent, and Applicable Lavv. There also might be one or rmre changes of the Loan Servicer tmrelated to a sale
of the Note, If there is a change of the Loan Servicer, Borro\\er will be given \\fÌtten notice of the change Wrich will
state the nmre and address of the new Loan Servicer, the address to Wrich pay¡rents should be made and any other
information RESP A requires in connection with a notice of transfer of servicing, If the Note is sold and thereafter
the Loan is serviced by aLoan Servicer other than the ptrrchaser of the Note, the rmrtgage loan servicing obligations
to Borro\\er will reIl1Ún with the Loan Servicer or be transferred to a successor Loan Servicer and are not asst.nred
by the Note ptrrchaser unless otherwise provided by the Note ptrrchaser.
Neither Borrov,er nor Lender may corrrrence, join, or be joined to any judicial action (as either an individual
litigant or the rrenDer of a class) that arises from the other party's actions ptrrsuant to this Security Instrurœnt or that
alleges that the other party has breached any provision of, or any duty o\\ed by reason of, this Security Instrurœnt,
ill1til such Borrov,er or Lender has notified the other party (with such notice given in corrpliance with the requirerœnts
of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such
notice to take corrective action. If Applicable Law provides a tirre period Wrich must elapse before certain action
can be taken, that tirre period will be deerœd to be reasonable for purposes of this paragraph. The notice of
acceleration and opporturúty to cure given to Borro\\er ptrrsuant to Section 22 and the notice of acceleration given
to Borro\\er ptrrsuant to Section 18 shall be deerœd to satisfy the notice and opporturúty 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 hazardous substances, pollutants, or WJStes by Environrrental Law and the following substances:
gasoline, kerosene, other flammable or toxic petrolewn products, toxic pesticides and herbicides, volatile solvents,
materials containing asbestos or fonrnIdehyde, and radioactive materials; (b) "Environrrental Law" rreans federal
laws and laws of the jurisdiction \\here the Property is located that relate to health, safety or environrrental protection;
(c) "Environmental Oeanup" includes any response action, rerredial action, or rermval action, as defined in
Fnvironrrental LaW; and (d) an "Environrrental Condition" rreans a condition that can cause, contribute to, or
otherwise trigger an Environrrental Oeanup.
Borro\\er shall not cause or pennit the presence, use, disposal, storage, or release of any Hazardous Substances,
or threaten to release any Hazardous Substances, on or in the Property, Borro\\er shall not do, nor allow anyone else
to do, anything affecting the Property (a) that is in violation of any Fnvironrrental La\N, (b) Wrich creates an
Envirorurental Condition, or (c) Wrich, due to the presence, use, or release of a Hazardous Substance, creates a
condition that adversely affects the value of the Property. The preceding Í\\O 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 nonrnI residential uses and to mrintenance of the Property (including, but not limited to,
hazardous substances in COl1St.ITœf products).
BorrO\\er shall prorrptly give Lender \\fÌtten notice of (a) any investigation, claim, demand, lawsuit or other
action by any govemrœntal or regulatory agency or private party involving the Property and any Hazardous Substance
or Envirorurental Law of Wrich Borrov,er has actual kno\\ledge, (b) any Environrrental Condition, incl uding 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 Wrich adversely affects the value of the
Property, IfBorro\\er 1e3l11S, or is notified by any govemrœntal or regulatory authority, or any private party, that
any reIIDval or other retrediation of any Hazardous Substance affecting the Property is necessary, Borro\\er shall
profilJtly take all necessary rerredial actions in accordance with Environrrental Law. Nothing herein shall create any
obligation on Lender for an Environrrental Oe<mup.
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VW'av1ING-Snq( rrily-Fâ1nie Mae/R"edcie Mac UNlF<Rv1INSTRJMOO - MffiS
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NON-UNI FORM COVENANTS. Borro\\ef and Lender fì..n1:her covenant and agree as follow>:
22. Acceleration; ReIœdies. Lender shall give notice to Bon'Ower prior to acceleration following
BoITOwer's breach of any covenant or agreerœnt in this Secwity Instrument (but not prior to acceleration 1ß1der
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 BoITOwer, by
which the default must be cm-ed; 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 Secmity Instrwœnt and sale of the Pl'Opel1y. The
notice slmll further infonn BoI1'Ower of the right to reinstate after acceleration and the right to bring a comi
action to assert the non-existence of a default or any other defense of BoI1'Ower to acceleration and sale. If the
default is not cm-ed on or before the date specified in the notice, Lender at its option may require inuœdiate
pay¡œnt in full of all sums secured by this Security Im1ruIœnt without fmiher demand and may invoke the
power of sale and any other remedies pennitted by Applicable Law. Lender shall be entitled to collect all
expenses incUITed in pursuing the reIœdies provided in this Section 22, induding, 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 BoI1'Ower and to the
person in possession of the Pl'Operty, if different, in accordance with Applicable Law. Lender shall give notice
of tile sale to Bon'Ower in the manner provided in Section 15. Lender shull publish the notice of sale, and the
PI'Operty shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the
Property at any sale. The pl'Oceeds of the sale shall be applied in the following order: (a) to all expenses of the
sale, induding, but not limited to, reasonable attorneys' fees; (b) to all sums secm-ed by this Secmity
Instnnœnt; and (c) any excess to the person or persons legally entitled to it.
23. Release. Upon payrœnt of all sum; secured by this Security In.stn.urent, Lender shall release this Security
I:nstn.nrent Borrovær shall pay any recordation costs. Lender may charge Borrovær a fee for releasing this Security
I:nstn.nrent, but only if the fee is paid to a third party for services rendered and the charging of the fee is pennitted
lIDder Applicable Law.
24. Wnivers. Borrovær releases and waives all rights lIDder and by virtue of the horrestead exemption law>
of \\yorning.
Eorrower Initials:
F
VWCfl./lIN3-Sinde Farri - nie MaelFredde Mac UNRRIA INSTRJMENT - MffiS
Form 3051 1/01" Page 12 of 14
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BY SIGNING BELOW, Borro~ accepts and agrees to the tenm and covenants contained in this Security
& 1_~::furo_mdr~Wfuit
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(Seal)
-Borro\\er
(Seal)
-Borro~
(Seal)
-Borro\\er
(Seal)
-Borro\\er
\Vitness:
\Vitness:
WY'<1v1ING-Sinale Fanily-Fannie Maa'R"eddie Mac UNlFæv1INSTRJMOO - Mffi)
Form 3051 1/01' Page 13 of 14
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State of \\yarning
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County of LINCOLN
The foregoing instrurrent \Vc1S acknowedged before Ire by MICHAEL L MCroNALD,
KAYLENE MCroNALD
this 13TH
day of
JUNE, 2006
Witness ~ hand and official seal.
GLORIA K. BYERS - NOTARY PUBLIC
County of I.li!à State ,ot
Uncoln 'fIfil)J Wyoming
My Commission Expires Sept. 15, 2007
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GLCJ¡«/ ¡::; It! ß YEaS
Print or Type Narre
(Seal)
My commission expires: 9 - /.5 - ¿) 7
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IM'C1v1ING-Sinde Farrily-Fannie Mae/R"edcie Mac LNRRv1INS'TRJMENT - MERS
Form 3051 1/0f Page 14 of 14
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