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After Recording Return To:
FIRST NATIONAL BANK WEST
ED POX 3110
ALPINE WYCMING 83128
Loan NÚmber: 129095006
RECEIVED 6/30/2006 at 3:05 PM
RECEIVING # 919845
BOOK: 625 PAGE: 247
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY .'
[~Prove This Une For Fb:ordng [Æta]
MORTGAGE
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MIN: 100015700069538490
DffiNITlONS
J
Words used in mWtiple sections of this cJocurrent are defined below and other v.ords are defined in Sections 3, 11,
13, 18,20 and 21. Certain rules regarding the usage ofv.ords used in this docurœnt are also provided in Section 16.
(A) 'Security Instnllœnt"rœans this docurœnt, vJllch is dated JUNE 29, 2006 , together
with all Riders to this docurœnt.
(B) ''BoITOwer''is CAPJ:.1ELA M DEMLER AND CALVIN R DEMLER, WIFE AND
HUSBAND
Borrovær is the rrortgagor under this Security Instrurrent.
(q ''MEltS'' is 110rtgage 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 mortgagee ooder this Secmity
Instnuœnt. :MERS is organized and existing under the law; of Del aware, and has an address and telephone nUfIÌ:)er
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 law; of WYCMING
Lender's address is 100 GREYS RIVER ROAD, ALPINE, WYŒ1ING 83128
organized
(E) 'Note" rœans the promissory note signed by Borrovær and dated JUNE 29, 2006
The Note states that Borrovær 0\\eS Lender ONE HUNDRED THIRTY-TWO THOUSAND AND
00/100 Dollars (U.S. $ 132,000.00 ) plus interest.
Borrovær has promised to pay this debt in regular Periodic Payrrmts and to pay the debt in full not later than
JULY 1, 2036 .
(F) "Propeliy" rœans the property that is described below under the heading "Transfer of Rights in the Property. "
(G) ''Loan'' rœans the debt evi denced by the Note, pI us interest, any prepayrrmt charges and late charges due under
the Note, and all SIl11B due under this Security Instrurrent, plus interest.
furro~ Initials: ~ ~
WYav1It\G-Snde Farrily-Famie MaelR-edde Mac LNF<::Rv'IINSTfUv1ENT - MERS
Form 3051 1/0'1" Page 1 of 14
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(II) ''Riders'' rœm1S all Riders to this Security Instrurœnt that are executed by Borrovær. The followngRiders are
to be executed by Borrovær [check box as applicable]:
o Adjustable Rate Rider
o Balloon Rider
o 1-4 Family Rider
o CondoniniumRider
o Planned Unit Developrrmt Rider
o Bivæekly Paym:nt Rider
o Second Harre Rider
o Other( s)[ specify ]
(I) ''Applicable law" rœm1S all controlling applicable federal, state and local statutes, r~ations, ordinances and
~nistrative rules and orders (that have·the effect of law) as væll as all applicable final, non-appealable judicial
OpInIOns.
(J) ''ColIllllUIÚty Association Dues, Fees, and Assessments" rœm1S all dues, fees, assessr:rmts and other charges
that are irrposed on Borro\\ef or the Property by a condoninium association, hOIœOW1ers association or sinilar
organiZRtion
(K) ''Electronic Funds Transfer"rœm1S any transfer offimds, other than a trarisaction originated by check, draft,
or sinilar paper instrurœnt, vJrich is initiated through an electronic terminal, telephonic in.strum:nt, cof1l)uter, or
magnetic tape so as to order, instruct, or authorize a financial institution to debit or creditan account. Such term
includes, but is not limited to, point-of-sale transfers, automated teller machine trarisactions, transfers initiated by
telephone, wre transfers, and automated clearinghouse transfers.
(L) ''Escrow Iterm" rœm1S those item; that are described in Section 3.
(M) ''MisœUaneous Proceeds" rœm1S any corrpensation, settlerrmt, award of damages, or proceeds paid by any
third party (other than insuranœ proceeds paid under the coverages described in Section 5) for: (i) damage to, or
destruction of, the Property; (ii) conderrnation or other taking of all or any part of the Property; (iii) conveyanœ in
lieu of conderrnation; or (iv) nisrepresrotations of, or onissions as to, the value and/or condition of the Property.
(N) 'MOligage Insurance" rœm1S insuranœ protecting Lender against the nonpaym:nt of, or default on, the Loan
(0) ''Petiodic PaYJŒI1t" rœm1S the regularly scheduled armunt due for (i) principal and interest under the Note,
plus (ii) any armunts under Section 3 of this Security Instrurœnt.
(1') 'RFSPA" rœm1S the Real Estate Settlerrmt Procedures Act (12 U. S. C §2601 et Séq.) and its if1l)lerœnting
regulation, Regulation X (24 C F. R Part 35(0), as they night be arrended horn tirre to tirre, or any additional or
successor legislation or regulation that governs the sarœ subject matter. As used in this Security I:n.stnurent,
"RESP A" refers to all requirerrmts and restrictions that are irrposed in regard to a "federally related I11Jrtgage loan"
even if the Loan does not qualify as a "federally related I11Jrtgage loan" under RESP A
(Q) 'Successor in Interest of Borrower" rœm1S any party that has taken title to the Property, whether or not that
party has assUIred Borrovær' s obligations under the Note and/or this Security Instrurœnt.
furro\\cr Initials: CYÇfJ Cit14G
WfC1v1/t\G-Snae Farrily-Fmnie MaeJR'edde Mac LNFCRv1INSTR1v1ENT - MER:>
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TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrum::nt secures to Lender: (i) the repayrœnt of the Loan, and all renewals, extensions and
rmdifications of the Nate; and (ii) the performance of furro~r' s covenants and agreerœnts under this Security
Instrum::nt and the Note. For this purpose, furro~r does hereby rrortgage, grant and convey to MERS (solely as
naminee for Lender and Lender's successors and assigns) and to the successors and assigns,ofMERS, with po~r of
sale, the following described property located in the
COUNTY of LINCOlN
BEGINNINg1\Tf~~~~T CORNER OF Sl/2~1~~íA~ctiskcTION
29,¡~:r~lN~ lQ12W OF THE 6TH P. M. f~FlN COUNTY I WYCMING; AND
RUNNJ..l\JG Till.J.\Cl:'.J NOoo10'E 259.0 'IO A EDINT' THENCE WEST
PARALLEL 'IO THE NJRTH LiNE OF SAID Sl/2NE1/ 4NEi/ 44-.152.3 FEET TQ
A EDINT; THENCE S 00010' W PARALLEL 'IO THE WEST L.lL~ OF SAID
Sl/2NE1/4NE1Lt:, 259.0 FEËT 'IO SAID NJRTH LINE; THENCE EAST I AWNG
SAID NJRTH L.lL\ll:'.J 252.3 FEET 'IO THE CORNER OF BEGINNING.
Wlich currently has the address af
2163 STATE HIGHWAY 241
[Street]
AFTON
[City]
, 'M-'aming
83110 ("Praperty Address"):
[Zip Coœ]
TCXJEIHER. WITH all the irrproverœnts nawor hereafter erected on the property, and all easerœnts,
appurtenances, and fixtures now or hereafter a part of the property. All replacerœnts and additions shall also be
covered by this Security Instrum::nt. All of the faregoing is referred to in this Security Instrum::nt as the "Property. "
furro~r understands and agrees that MERS hol ds only legal titl e to the interests granted by furro~r in this Security
Instnuœnt, but, ifnecessary to corrply with lawor 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 Instnuœnt.
BORROWER COVENANTS that furrav.er is lawfully seised af the estate hereby conveyed and has the right
to rrortgage, grant and convey the Property and that the Property is unencurrÌ:>ered; except far encurrÌJrances of
record furro~r warrants and will defend generally the title to the Property against all claiIlli and demands, subject
to' any encurrÌJrances af record
THIS SECURITYINSIRUMENT corrbines uniform covenants for national use andnon-uniform covenants with
limited variations by jurisdicrion to constitute a uniform security instrum:nt covering real property.
UNI FORM CQVa-JANTS. furro~r and Lender covenant and agree as follow;:
1. Payn~ntofPrincipal, Interest, EscrowItems, Prepaynrnt01arges, andLateCJ1arges. furro~rshall
pay Men due the principal of, and interest on, the debt evidenced by the Note and any prepayrœnt charges and late
charges due under the Note. furro~r shall also pay funds for Escrow IteIlli pursuant to Section 3. Payrœnts due
under the Note and this Security Instrum::nt shall be rmde in U. S. currency. HO\\eVer, if any check or ather
instrurrent received by Lender as payrœnt under the Note or this Security Instnuœnt is returned to Lender unpaid,
Lender may require that any or all subsequent payrœnts due tmder the Note and this Security Instrum::nt be rmde in
one or rrore of the foIl owing form;, as selected by Lender: (a) cash; (b) rroney order; ( c) certifi ed check, bank check,
treasurer's check or cashier's check, provided any such check is dra'M1 upon an institution MOse deposits are insured
by a federal agency, instrum:ntality, or entity; or (d) Electronic Funds Transfer.
Payrœnts are deerœd received by Lender Men 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 Sectian 15. Lender may return
Ibrro\o\cr Initials: (!j!r:) ~
WfC1v1IJ\G-Snde Fanily-Fa1nie Mae'R-edde Mac LNFCHv1INSTR1V100 - MER>
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any payrœnt or partial payrœnt if the payrœnt or partial payrœnts are insuffi ci mt to bring the Loan currmt. Lender
may accept any payrœnt or partial paynmt insufficimt to bring the Loan currmt, without 'MIiver of any rights
hereooder or pr~udice to its rights to refuse such payrrmt or partial payrœnts in the future, but Lender is not
obligated to apply such payrœnts at the tiIre such payrœnts are accepted. If each Periodic Payrœnt is applied as of
its scheduled due date, thm Lender need not pay interest on ooapplied funds. Lender may hold such ooapplied funds
ootil Borrov-er rnùœs payrœnt to bring the Loan currmt. IfBorrov-er does not do so within a reasonable period of
tiIre, Lender shall either apply such funds or return them to Borrov-er. If not applied earlier, such funds will be
applied to the outstanding principal balance ooder the Note imrrediately prior to foreclosure. No offset or claim
Wlich Borrov,er might have now or in the future against Lender shall relieve Borrov-er ITom making payrœnts due
ooder the Note and this Security Instnrrœnt or performing the covmants and agreemnts secured by this Security
lnstrurm1t.
2. Application of Paynrnts or Proceeds. Except as otherwise described in this Section 2, all payrœnts
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due ooder the Note;
(b) principal due ooder the Note; (c) arrDoots due ooder Section 3. Such payrœnts shall be applied to each Periodic
Payrœnt in the order in Wúch it becarre due. Any rernùning arrDoots shall be applied first to late charges, second
to any other arrDoots due ooder this Security Instnrrœnt, and thm to reduce the principal balance of the Note.
If Lender receives a payrœnt ITom Borrov-er for a delinqumt Periodic Payrœnt Wlich includes a sufficimt
arrDoot to pay any late charge due, the payrœnt may be applied to the delinqumt payrrmt and the late charge. If
rrme than one Periodic Payrœnt is outstanding, Lender may apply any payment received rrom Borrov-er to the
repayrœnt of the Periodic Payrœnts if, and to the extmt that, each payrœnt can be paid in full. To the extmt that
any excess exists after the payrœnt is applied to the full payrrmt of one or mJre periodic Payrrents, such excess may
be applied to any late charges due. Volootary prepayrœnts shall be applied first to any prepayrœnt charges and thm
as described in the Note.
Any application of payrœnts, insurance proceeds, or :MiscellaneoUs Proceeds to principal due ooder the Note
shall not extend or postpone the due date, or change the arrDoot, of the Periodic Payrœnts.
3. Funds for Escrow Iterm. Borrov,er shall pay to Lender on the day Periodic Payrœnts are due ooder the
Note, ootil the Note is paid in full, a S\ID1 (the "Foods") to provide for payrœnt of arrDOOts due for: (a) taxes and
as.sessrœnts and other itell'E Wúch can attain priority over this Security Instnrrœnt as a lien or encurrbrance on the
Property; (b) leasehold payments or groood rmts on the Property, if any; (c) premium; for any and all insurance
required by Lender ooder Section 5; and (d) ~rtgage Insurance premium;, if any, or any sum; payable by Borrov-er
to Lender in lieu of the payrœnt of Mortgage Insurance premium; in accordance with the provisions of Section 10.
These itell'E are call ed "Escrow Itell'E." At origination or at any tiIre during the term of the Loan, Lender may require
that Commmity Association Dues, Fees, and A.ssessmnts, if any, be escrov.ed by Borrov,er, and such dues, fees and
as.sessrœnts shall be an Escrow Item Borrov-er shall prorrptly furnish to Lender all notices of arrDoots to be paid
ooder this Sectiorl Borrov-er shall pay Lender the Foods for Escrow Itell'E unless Lender Vv'aÍves Borrov,er's
obligation to pay the Foods for any or all Escrow Items. Lender may Vv'aÍve Borrov-er' s obligation to pay to Lender
Foods for any or all Escrow Itell'E at any tiIre. Any such Vv'aÍver may only be in writing. In the event of such Vv'aÍver,
Borrov-er shall pay directly, v.hen and v.here payable, the arrDOOts due for any Escrow Itell'E for Wlich payrœnt of
Foods has hem Vv'aÍved by Lender and, if Lender requires, shall furnish to Lender receipts evidmcing such payrœnt
within such tiIre period as Lender may require. BOrrov-er' s obligation to rrnke such payrœnts and to provide receipts
shall for all purposes be deerred to be a covmant and agreemnt contained in this Security Instnrrœnt, as the phrase
"covenant and agreemnt" is Œed in Section 9. IfBorrov-er is obligated to pay Escrow Itell'E directly, pursuant to
a Vv'aÍver, and Borrov-er fails to pay the arrDoot due for an Escrow Item, Lender may exercise its rights ooder Section
9 and pay such arrDoot and Borrov-er shall thm be obligated ooder Section 9 to repay to Lender any such arrDunt.
Lender may revoke the Vv'aÍver as to any or all Escrow Items at any tiIre by a notice given in accordance with Section
15 and, upon such revocation, Borrov,er shall pay to Lender all Funds, and in such arrDoots, that are then required
ooder this Section 3.
Lender may, at anytiIre, collect and hold Foods in an arrDoot (a) sufficient to permit Lender to apply the Funds
at the time specified under RESP A, and (b) not to exceed the rrnximnn arrDoot a lender can require ooder RESP A
Lender shall estirrnte the arrDunt of Foods due on the basis of current data and reasonable estirrntes of expenditures
of future Escrow Items or otherwise in accordance with Applicable Law
!bIT",'" Jllitiæ, eßl (4)
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The Funds shall be held in an institution vvhose deposits are insured by a federal agency, instrurœntality, or
entity (including Lender, if Lender is an institution v.hose deposits are so insured) or in any Federal Ho~ Loan
Bank. Lender shall apply the Funds to pay the Escrow Item; no later than the ti~ specified under RESP A Lender
shall not charge Ibrro\\er for holding and applying the Funds, annually analyzing the escrowaccOlmt, or verifYing
the Escrow Item;, unless Lender pays Ibrro\\ef interest on the Funds and Applicable Law permits Lender to make
such a charge. Unless an agreerœnt is made in writing or Applicable Law requires interest to be paid on the Funds,
Lender shall not be required to pay Ibrro\\er any interest or emnings on the Funds. Ibrro\\er and Lender can agree
in writing, hO\\eVer, that interest shall be paid on the Funds. Lender shall give to Borro\\er, vvithout chru-ge, an
annual acrounting of the Funds as required by RESP A
If there is a surpl us of Funds hel d in escrow, as defined under RESP A, Lender shall acrount to Ibrro\\ef for
the excess fimds in acrordance with RESP A If there is a shortage ofF unds held in escrovv, as defined under RESP A,
Lender shall notify Borro\\ef as required by RESP A, and Borro\\er shall pay to Lender the arrount necessary to make
up the shortage in acrordancevvith RESPA, but in no rrme than 12 rmnthly paym:nts. If there is a deficiency of
Funds held in escrow, as defined under RESP A, Lender shall notify Ibrro\\er as required by RESP A, and Ibrrovær
shall pay to Lender the arrount necessary to make up the deficiency in acrordance with RESP A, but in no rmre than
12 rmnthly paym:nts.
Upon paym:nt in full of all SlJITI) secured by this Security Instrurrrnt, Lender shall prorrptly refimd to Borrovær
any Funds held by Lender.
4. OIargesj liens. Borrovær shall pay all taxes, assessrœnts, charges, fines, and irrpositions attributable to
the Property Wrich can attain priority over this Security Instrurrrnt, leasehold paym:nts or ground rents on the
Property, if any, and Community Association Dues, Fees, and Assessrœnts, if any. To tlreextent that these item;
are Escrow Item;, Borrovær shall pay them in the manner provided in Section 3.
Borro\\er shall prorrptly discharge any lien v.hich has priority over this Security Instrurrrnt unless Ibrro\\er:
(a) agrees in writing to the payrœnt of the obligation secured by the lien in a manner acceptable to Lender, but only
so long as Borro\\er is perforrring such agreerœnt; (b) contests the lien in good faith by, or defends against
enforcerrent of the li en in, 1 egal proceedings v.hi ch in Lender's opini on operate to prevent the enforcerrent of the Ii en
v.hile those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder
of the lien, an agreement satisfactory to Lender subordinating the lien to this Security Instrurrrnt. If Lender
determines that any part of the Property is subject to a lien v.hich can attain priority over this Security Instrurrrnt,
Lender rœy give Borro\\ef a notice identifying the lien. Within 10 days of the date on v.hich that notice is given,
Borrovær shall satisfy the lien or take one or rmre of the actions set forth above in this Section 4.
Lender rœy require Ibrro\\er to pay a one-ti~ charge for a real estate tax verification and/or reporting service
used by Lender in connection with this Loan.
5. Property Insurance. Borro\\er shall keep the irrproverrents now existing or hereafter erected on the
Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
including, but not limited to, earthquakes and floods, for v.hich Lender requires insurance. This insurance shall betmaintained in the arrounts (including deductible levels) and for the periods that Lender requires. What Lender
requires pursuant to the preœding smtences can change during the term of the Loan. The insurance canier providing
the insurance shall be chosm by Borro\\er subj ect to Lender's right to disapprove Borro\\er' schoice, v.hich right shall
not be exercised unreasonably. Lender rœy require Borro\\er to pay, in connection with this Loan, either: (a) a one-
ti~ charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone
determination and certification services and subsequent charges each time remappings or similar changes occur vJUch
reasonably might affect such detemination or certification. Borro\\er shall also be r~nsible for the payrrent of
any fees irrposed by the Federal Errergency Managemnt Agency in connection with the review of any flood zone
determination resulting from an objection by Borro\\er.
If Borro\\er fails to mrintain any of the coverages described above, Lender may obtain insurance coverage, at
Lender's option and Borro\\er' s expense. Lender is under no obligation to purchase any particular type or arrooot
of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borro\\ef, Borro\\ef's
equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
or lesser coverage than was previously in effect, BorrO\\ef acknowiedges that the cost of the insurance coverage so
obtained rright siWœed the cost of insurance that BoITo",," rould have obtained Arr¡ arnJunts disbursed
furro\\ef Initials: ~
WYCXV1IN3--Snde Farrily-Fænie Mæ'Fredde Mac LNFŒv1INSTR1v1ENT - MER3 DocMagic ~ 800-649-1362
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by Lroder under this Section 5 shall becorre additional debt of Borrov.er secured by this Security Instrurrmt. These
anDunts shall bear inten.~t at the Note rate from the date of disbw-serrent and shall be payable, with such interest,
upon notice from Lroder to Borro\\ef requesting paymnt.
All insurance policies required by Lender and renewals of such policies shall be subject to Lroder's right to
disapprove such policies, shall include a standard rrmtgage clause, and shall name Lender as rmrtgagee and/or as an
additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
Borrov.er shall prorrptly give to Lroder all receipts of paid premium; and renewal notices. IfBorrov.er obtains any
form of insurance coverage, not otherwise required by Lroder, for darrnge to, or destruction of, the Property, such
policy shall include a standard rmrtgage clause and shall name Lender as rmrtgagee and/or as an additional loss
payee.
In the event ofloss, Borrov.er shall give proI11>t notice to the insurance carrier and Lender. Lender may make
proof of loss if not rrnde prorrptly by Borro\\ef. Unless Lroder and Borrov.er otherwise agree in witing, any
insurance proceeds, vJJ.ether or not the underlying insurance VÆS required by Lender, shall be applied to restoration
or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
has had an opportunity to inspect such Property to ensure the \\Ork has been cofllJleted to Lender's satisfaction.
provided that such inspection shall be undertaken profllJtly. Lender may disburse proceeds for the repairs and
restoration in a single paymnt or in a series of progress paymnts as the \\Ork is coI11>leted. Unless an agreerrent
is rrnde in witing or Applicable Law requires interest to be paid on such insurance proceeds, Lroder shall not be
required to pay Borro\\ef 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 ofBorro\\ef.
If the restoration or repair is not economically feasible or Lender's security \\QuId be lessened, the insurance proceeds
shall be applied to the SI.llΠsecured by this Security Instrurrmt, vJJ.ether or not then due, with the excess, if any, paid
to Borro\\ef. Such insurance proceeds shall be applied in the order provided for in Section 2.
If Borrov.er abancbns the Property, Lender may file, negotiate and settle any available insurance claim and
related matters. IfBorro\\ef does not respond within 30 days to a notice from Lender that the insurance carrier has
offered to settle a claim, then Lroder may negotiate and settle the claim The 3D-day period will begin vJJ.en the
notice is given. In either event, or ifLroder acquires the Property under Section 22 or otherwise, Borro\\ef hereby
assigns to Lroder (a) Borrov.er's rights to any insurance proceeds in an arrmmt not to exceed the anDunts tmpaid
tmder the Note or this Security Instrurrmt, and (b) any other ofBorro\\ef' s rights (other than the right to any refund
of unearned premium; 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 anDunts unpaid tmder the Note or this Security Instrurrmt, vJJ.ether or not then due.
6. Occupancy. Borro\\ef shall occupy, establish, and use the Property as Borro\\er's principal residence
within 60 days after the execution of this Security Instrurrmt and shall continue to occupy the Property as Borro\\ef' s
principal residence for at least one year after the date of occupancy, unless Lender otherwise ag¡:ees in witing, vJJ.ich
consent shall not be unreasonably withheld, or unless extenuating cirCUIIEtances exist vJJ.ich are beyond Borrov.er' s
control.
7. Preservation, Maintenance and Protection of the Property; hlSpections. Borro\\ef shall not destroy,
damage or ifllJair the Property, allow the Property to deteriorate or commit waste on the Property. Vvhether or not
Borro\\ef is residing in the Property, Borrov.er shall maintain the Property in order to prevent the Property from
deteriorating or decreasing in value due to its condition Unless it is determined pursuant to Section 5 that repair or
restoration is not economically feasible, Borrov.er shall profllJtly repair the Property if darrnged to avoid further
deterioration or darrnge. If insurance or conderrnation proceeds are paid in connection with darrnge to, or the taking
of, the Property, Borro\\ef shall be responsible for repairing or restoring the Property only ifLroder has released
proceeds for such purposes. Lroder may disburse proceeds for the repairs and restoration in a single paymnt or in
a series of progress paymnts as the \\Qrk is cofllJleted. If the insurance or condermation proceeds are not sufficient
to repair or restore the Property, Borrov.er is not relieved ofBorrov.er' s obligation for the cofllJletion of such repair
or restoration
furrO\\ef Initials: ~ CfvVS)
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Lender or its agent may rrnke reasonable entries upon and inspections of the Property. Ifit has reasonable cause,
Lender may inspect the interior of the ifiI)roverrmts on the Property. Lender shall give furrovær notice at the tiJre
of or prior to sU<TI an interior inspection specifying such reasonable cause.
8. Borrower's Loan ApplicatiOlL furrovær shall be in default if, during the Loan application process,
furrovær or any persons or entities acting at the direction offurrovær or Vvithfurrovær' s know edge or oonsent gave
materially false, misleading, or inaccurate information or staterrmts to Lender (or failed to provide Lender Vvith
material information) in oonnection with the Loan. Material representations include, but are not limited to,
represmtations oonceming furrovær' s occupancy of the Property as furrovær's principal residence.
9. Protection of Lender's Interest in the Propel1y and Rights Under this Secmity Instnuœnt. If (a)
furrovær fails to perform the oovenants and agreerrmts oontained in this Security Instnnrent, (b) there is a legal
proceeding that might signifi cantly affect Lender's interest in the Property and/or rights under this Securi ty Instnnrent
(such as a proceeding in bankruptcy, probate, for oonderrnation or forfeiture, for enforcerrent of a lien Wrich may
attain priority over this Security Instnnrent or to enforce laws or regulations), or (c) Borrovær has abanooned the
Property, then Lender may 00 and pay for V\hatever is reasonabl~ or appropriate to protect Lender's interest in the
Property and rights under this Security Instnnrent, including protecting and/or assessing the value of the Property,
and securing and/orrepairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums
secured by a lien Wrich has priority over this Security Instnnrent; (b) appearing in oourt; and (c) paying reasonable
attorneys' fees to protect its interest in the Property and/or rights under this Security Instnnrent, including its secured
position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to
rrnke repairs, change locks, replace or board up OOors and Vvinoows, drain water from pipes, eliminate building or
other code violations or dangerous conditions, and have utilities turned on or off Although Lender may take action
under this Section 9, Lender does not have to 00 so and is not under any duty or obligation to 00 so. It is agreed that
Lender incurs no liability for not taking any or all actions authorized under this Section 9.
Any anDunts disbursed by Lender under this Section 9 shall becoJre additional debt offurrovær secured by this
Security Instnnrent. These anDunts shall bear interest at the Note rate from the date of disburserrmt and shall be
payabl e, Vvi th such interest, upon notice from Lender to furrovær requesting payrœnt.
If this Security Instnnrent is on a leasehold, furrovær shall oofiI)ly Vvith all the provisions of the lease. If
furrovær acquires fee title to the Property, the leasehold and the fee title shall not rrerge unless Lender agrees to the
Jrerger in writing.
10. Mnigage Insurance. If Lender required Mxtgage Insurance as a oondition of making the Loan, furrovær
shall pay the premiums required to maintain the .MOrtgage Insurance in effect. If, for any reason, the .MOrtgage
Insurance ooverage required by Lender ceases to be available from the ffiJrtgage insurer that previously provi ded such
insurance and furrovær was required to rrnke separately designated payrœnts toward the premiums for Mortgage
Insurance, furrovær shall pay the premiums required to obtain ooverage substantially equivalent to the 1vbrtgage
Insurance previously in effect, 'at a cost substantially equivalent to the oost to furrovær of the .MOrtgage Insurance
previously in effect, from an alternate ffiJrtgage insurer selected by Lender. If substantially equivalent 1vbrtgage
Insurance ooverage is not available, furrovær shall oontinue to pay to Lender the anDunt of the separately designated
payrœnts that være due V\hen the insurance ooverage ceased to be in effect. Lender Vvill accept, use and retain these
payrœnts as anon-refundable loss reserve in lieu of .MOrtgage Insurance. Such loss reserve shall be non-refundable,
notVvÍ thstanding the fact that the Loan is ultimately pai d in full, and Lender shall not be required to pay furrovær any
interest or earning; on such loss reserve. Lender can no longer require loss reserve payrœnts if1vbrtgage Insurance
ooverage (in the anDunt and for the period that Lender requires) provided by an insurer selected by Lender again
becorres available, is obtained, and Lender requires separately designated payrœnts toward the premiums for
.MOrtgage Insurance. If Lender required .MOrtgage Insurance as a oondition of making the Loan and furrovær was
required to rrnke separately designated payrrmts toward the premiums for 1vbrtgage Insurance, furrovær shall pay
the premiums required to maintain 1vbrtgage Insurance in effect, or to provide anon-refundable loss reserve, until
Lender's requirerrmt for 1vbrtgage Insurance ends in accordance with any written agreerrmt betvæen furrovær and
Lender providing for such temination or until termination is required by Appliæble Law Nothing in this Section
10 affects furrovær's obligation to pay interest at the rate provided in the Note.
1vbrtgage Insurance reilIÙurses Lender (or any entity that purchases the Note) for certain losses it may incur
iffurrovær does not repay the Loan as agreed furrovær is not a party to the .MOrtgage Insurance.
- IIDtiam CJ;iJ. r A\AD
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lvIortgage insurers evaluate their total risk on all such insurance in force from titre to tirre, and may enter into
agreeIm1ts with other parties that share or mxlify their risk, or reduce losses. These agreeIm1ts are on term; and
conditions that are satisfactory to the rrortgage insurer and the other party (or parties) to these agreeIm1ts. These
agreeIm1ts may require the rrortgage insurer to make payrrrnts using any source of foods that the rmrtgage insurer
may have available (v.hich may include foods obtained rromlvlortgage Insurance premums).
As a result of these agreerrrnts, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) arrounts that derive rrom (or might
be characterized as) a portion offurro~~ s payrœnts for lvIortgage Insurance, in exchange for sharing or mxlifying
the rmrtgage insurer's risk, or reducing losses. If such agreeIm1t provides that an affiliate of Lender takes a share
of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangeIm1t is often terrœd
" capti ve reinsurance." Further:
(a) Any such agreeIϧts will not affect the amounts that Bon-owerhas agreed to pay for Mortgage
Insurance, or any other terIlE of the Loan. Such agreeJœnts will not increase the amount Bon-ower will owe
fOl' Mortgage Insurance, and they 'Will not entitle Bon-ower to any refund
(b) Any such 3greeJœnts 'Will not affect the rights Bon-ower has - if any - 'With respect to the Mortgage
Insurance under the Homeowners Pmtection Act of 1998 or any other law, 1bese rights may include the right
to receive certain disclosures, to request and obtain cancellation of the MOIigage Insw'aDce, to have the
Mortgage Insw'aDce tenninated automatically, and! or to receive a refund of any MOIigage Insurance premilIIm
that were unearned at the tiJœ of such cancellation or termination.
11. Assigmœnt of Miscellaneous Pmceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
and shall be paid to Lender. - '
If the Property is damaged, such Miscellaneous Proceeds shall be appli ed to restoration or repair of the Property,
if the restoration or repair is eronomically feasible and Lender's security is not lessened During such repair and
restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
opportunity to inspect such Property to ensure the oork has been coI11Jleted to Lender's satisfaction, provided that
such inspection shall be undertaken proI11Jtly. Lender may pay for the repairs and restoration in a single disburseIm1t
or in a series of progress payrœnts as the oork is coI11Jleted. Urùess an agreeIm1t is m1de in writing or Applicable
Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay furro~r any
interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not eronomically feasible or
Lender's security oould be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
Instrurrent, Wlether or not then due, with the excess, if any, paid to furro~r. 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 sum; secured by this Security Instrurrent, Wlether or not then due, with the excess, if any, paid to
furrovær.
In the event of a partial taking, destruction, or loss in value of the Property in v.hich the fair market value of
the Property inm::xliately before the partial taking, destruction, or loss in value is equal to or greater than the arrount
of the sums secured by this Security Instrurrent iJ:IIœdiately before the partial taking, destruction, or loss in value,
unl ess furrovær and Lender otherwise agree in writing, the sums secured by this Security Instrurrent shall be reduced
by the arrount of the Miscellaneous Proceeds multiplied by the following rraction: (a) the total arrount of the sums
secured inm::xliately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
Property inm::xliately before the partial taking, destruction, or loss in value. Any balance shall be paid to furrovær.
In the event of a partial taking, destruction, or loss in value of the Property in v.hich the fair market value of
the Property imrœdiately before the partial taking, destruction, or loss in value is less than the arrount of the sums
secured inm::xliately before the partial taking, destruction, or loss in value, unless furro~r and Lender otherwise
agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrurrent Wlether
or not the sums are then due.
If the Property is abandoned by furro~r, or if, after noti ce by Lender to furro\®" that the Opposing Party (as
defined in the next sentence) offers to make an award to settle a claim for damages, furro~r fails to respond to
Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrurrent, Wlether
&)ITO~ Inirials: cië) ~ CMo-
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or not then due, "~posing Party" m::'2l1S the third party that ov.es Borrovær Miscellaneous Proceeds or the party
against \\horn Borrovær has a right of action in regard to Miscellaneous Proceeds.
Borrovær shall be in default if any action or proceeding, \\hether civil or criminal, isbegtm that, in Lender's
judgrrent, rould result in foIfeiture of the Property or other rrnterial irrpairrœnt of Lender' s interest in the Property
or rights under this Security Instrurrent. Borrovær can cure such a default and, if accel erari on has occurred, reinstate
as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
judgrrent, precludes foIfeiture of the Property or other rrnterial irrpairrœnt of Lender' s interest in the Property or
rights under this Security Instrurœnt. The proceeds of any award or claim for darrnges that are attributable to the
irrpairrœnt of Lender' s interest in the Property are hereby assigned and shall be paid to Lender.
All Mscellaneous Proceeds that are not applied to restorarion or repair of the Property shall be applied in the
order provided for in Section 2.
U. Borrower Not Released; Fod:>earance By Lender' Not a Waiver. Extension of the tirœ for payrœnt or
rrodification of amJrtization of the sum; secured by this Security Instrurrmt granted by Lender to Borrovær or any
Successor in Interest ofBorroVler shall not operate to release the liability ofBorrovær or any Successors in Interest
ofI30rroVler, Lender shall not be required to romrence proceedings against any Successor in Interest ofBorrovær
or to refuse to extend tirœ for payrœnt or otherwiserrodify amJrtization of the sum; secured by this Security
Instrurrent by reason of any demand made by the original BorroVler or any Successors in Interest ofBorroVler. Any
forbearance by Lender in exercising any right or reJredy including, without limitarion, Lender's acceptance of
payrœnts from third persons, entities or Successors in Interest ofBorrovær or in amJunts less than the amJunt then
due, shall not be a waiver of or preclude the exercise of any right or rerœdy,
13. Joint and Severalliabili1y; Co-signers; Successors and Assigns Bound BorroV\er rovenants and agrees
that BorroVler' s obligarions and liability shall be joint and several. HOVleVer, any BorroVler \\ho co-signs this Security
Instrurrmt but does not execute the Note (a " co-signer"): (a) is co-signing this Security Instrurrmt only tQ rrmtgage,
grant and ronvey the co-signer's interest in the Property under the terrrn of this Security Instrurrent; (b) is not
personally obligated to pay the sum; secured by this Security Instrurœnt; and (c) agrees that Lender and any other
BorroVler can agree to extend, rrodify, forbear or rmke any accomrrodations with regard to the term.; of this Security
Instrurrent or the Note without the co-signer' s ronsent.
Subject to the provisions of Section 18, any Successor in Interest of BorroVler \\ho assurœs Borrovær's
obligarions under this Security Instrurrmt in writing, and is approved by Lender, shall obtain all ofBorroVler' s rights
and lxn.efits under this Security Instrurœnt. BorroVler shall not be released from Borrovær' s obligarions and liability
under this Security Instrurrent unless Lender agrees to such release in writing, The rovenants and agreerrents of this
Security Instrurrent shall bind (except as provided in Section 20) and lxn.efit the successors and assigns of Lender.
14. Loan Omrges. Lender may charge BorroVler fees for services peIforrred in ronnection with BorroVler' 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 Instrurrent to charge a specific fee to BorroVler shall not be cönstrued
as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security
Instrurrmt or by Applicable Law:
If the Loan is subject to a lawWùch sets maximum loan charges, and that law is finally interpreted so that the
interest or other loan charges rollected or to be rollected in ronnection with the Loan exceed the permitted limits,
then: (a) any such loan cl1arge shall be reduced by the amJunt necessary to reduce the charge to the permitted limit;
and (b) any sum; already rollected from Borrovær Wùch exceeded permitted limits will be refunded to BorroVler.
Lender may choose to make this refimd by reducing the principal 0\MXi under the Note or by making a direct payrœnt
to Borrovær. If a refund reduces principal, the reduction will be tre2ted as a partial prepayrœnt without any
prepayrœnt charge (\\hether or not a prepayrrent charge is provided for under the Note). Borrovær's acceptance of
any such refund made by direct payrrent to Borrovær will ronstitute a waiver of any right of action BorroVler might
have arising out of such overcharge.
15. Notices. All notices given by Borrovær or Lender in ronnection with this Security Instrurrent must be in
writing. Any notice to Borrovær in ronnection with this Security Instrurrmt shall be deerred to have hem given to
BorroVler \\hen mailed by first class mail or \\hen actually delivered to BorroVler's notice address if sent by other
m::'2l1S. Notice to anyone Borrovær shall ronstitute notice to all BorroVlers unless Applicable Law expressly requires
furrO\\ff Initillis: ® ~ QmQ
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otherwise. The notice address shall be the Property Address unless furrov,er has designated a substitute notice
address by notice to Lender. furrov<ær shall pronvtly notify Imder offurrov<ær' s change of address. IfImder
specifi es a procedure for reporting furrov<ær' s change of address, then furrov,er shall only report a change of address
through that specified procedure. There may be only one designated notice address under this Security Instrunmt
at anyone tirre. Any notice to Imder shall be given by delivering it or by mailing it by first class mail to Imder' s
address stated herein unless Imder has designated another address by notice to furrov,er. Any notice in connection
with this Security Instrunmt shall not be deerred to have been given to Imder until actually received by Imder.
If any notice required by this Security Instrunmt is also required under Applicable Law, the Applicable Law
requirerœnt v-ill satisfy the corresponding requirerrent under this Security Instrunmt
16. Governing Law; Severability; Rules of ConstmctiOIL This Security Instrunmt shall be governed by
federal law and the law of the jurisdiction in Vvhich the Property is located All rights and obligations contained in
this Security Instrunmt are subject to any requirerœnts and limitations of Applicable Law. Applicable Law might
explicitly or invlicitly allow the parties to agree by contract or it might be silent, but such silence shall not be
construed as a prohibition against agreerœnt by contract. In the event that any provision or clause of this Security
Instrunmt or the Note conflicts Vvith Applicable Law, such conflict shall not affect other provisions of this Security
Instrum:nt or the Note Vvhich can be given effect without the conflicting provision.
As used in this Security Instrum:nt: (a) wmls of the rmsculine gender shall m:.an and include corresponding
neuter oords or oords of the feminine gender; (b) oords in the singular shall m:.an and include the plural and vice
versa; and (c) the oord "may" gives sole discretion without any obligation to take any action.
17. BoI11>wer's Copy. furrov,er shall be given one copy of the Note and of this Security Instrum:nt
18. Transfer of the Propeliy or a Beneficial mterest in Bon-ower. As used in this-Section 18, "Interest in
the Property" IreaI1S 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 sales contract or escrowagreerœnt, the intent
of Vvhich is the transfer of title by furrov,er at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred (or iffurrov<ær is not a
natural person and a beneficial interest in furrov,er is sold or transferred) without Imder's prior witten consent,
Imder may require irmrediate payrœnt in full of all SillŒ secured by this Security Instrum:nt Hov<æver, this option
shall not be exercised by Imder if such exercise is prohibited by Applicable Law.
IfImder exercises this option, Imder shall give furrov,er notice of acceleration. The notice shall provide a
peri od of not less than 30 days rrom the date the notice is given in accordance with Section 15 within Vvhi ch furrov,er
must pay all SillŒ secured by this Security Instrunmt Iffurrov<ær fails to pay these SillŒ prior to the expiration of
this period, Imder may invoke any rerredies permitted by this Security Instrunmt without further notice or demand
on furrov<ær.
19. BoI11>wer's Right to Reinstate Mter AcceIeratioIL Iffurrov,er rœets certain conditions, furrov,er shall
have the right to have enforcerœnt of this SecurityInstrum:nt discontinued at any tirre prior to the earliest of (a)
five days before sale of the Property pursuant to any pov,er of sale contained in this Security Instrunmt; (b) such
other period as Applicable Law might specify for the termination offurrov,er' s right to reinstate; or (c) entry of a
juclgrœnt enforcing this Security Instrum:nt Those conditions are that furrov,er: (a) pays Imder all SillŒ Vvhich
then oouldbedueunderthis Security Instrurœnt and the Note as ifno acceleration had occurred; (b) cures any default
of any other covenants or agreerœnts; ( c) pays all expenses incurred in enforcing this Security Instrunmt, including,
but not limited to, ræsonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the
purpose of protecting Imder' s interest in the Property and rights under this Security Instrum:nt; and (d) takes such
acti on as Imder may ræsonably require to assure that Imder' s interest in the Property and rights under this Securi ty
Instrurœnt, and furrov,er' s obli gation to pay the sum; secured by this Securi ty Instrurœnt, shall continue unchanged
Imder may require that furrov,er pay such reinstaterœnt sum; and expenses in one or rrore of the following forms,
as selected by Imder: (a) cash; (b) rroney order; (c) certified check, bank check, treasurer's check or cashier's check,
provided any such check is draWl upon an institution v.hose deposits are insured by afederal agency, instrurrentality
or entity; or (d) Electronic Funds Transfer, Upon reinstaterœnt by Borrov,er, this Security Instrunmt and obligations
secured hereby shall rermin fully effective as if no acceIeration had occurred Hov<æver, this right to reinstate shall
not apply in the case of acceleration under Section 18.
furro\\ef Initials: ~ 0.1YJ£l
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20. &'lle of Note; Oumge of Loan Servicer, Notice of Grievance. The Note or a partial interest in the Note
(together with this Security :Instnurent) can be sold one or rmre tirres without prior notice to Borrov..er. A sale might
result in a change in the mtity (knOW1 as the "Loan Servicer") that collects Periodic Paynmts due under the Note
and this Security:Instnurent and performs other rmrtgage loan servicing obligations under the Note, this Security
:Instnurent, and Applicable Law There also might be one or rmre changes of the Loan Servicer unrelated to a sale
of the Note. If there is a change of the Loan Servicer, Borrov..er will be givm writtm notice of the change vJllch will
state the naIre and address of the new Loan Servicer, the address to vJllch paynmts should be rmde and any other
inforrmtion RESP A requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter
the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the rmrtgage loan servicing obligations
to Borrov..er will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assurred
by the Note purchaser unless otherwise provided by the Note purchaser.
Neither Borrovær nor lmder rmy corrrœnce, join, or be joined to any judicial action (as either an individual
litigant or the rrerrl.:>er of a class) that arises rrom the other party's actions pursuant to this Security :Instnurent or that
alleges that the other party has breached any provision of, or any duty ov.ed by reason of, this Security Instrurœnt,
until such Borrov..er or Lender has notifi ed the other party (with such noti ce givm in corrpliance with the requirerrents
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 vJllch must elapse before certain action
can be taken, that tirre period will be deerred to be reasonable for purposes of this paragraph The notice of
acceleration and opportunity to cure givm to Borrov..er pursuant to Section 22 and the notice of acceleration given
to Borrov..er pursuant to Section 18 shall be deerred to satisfy the notice and opportunity to take corrective action
provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substance:;" are those substance:;
defined as toxic or hazardous substances, pollutants, or wastes by EnviroI1ITffital Law and the following substances:
gasoline, kerosene, other flammble or toxic petroleum products, toxic pesticides and herbicides, volatile solvmts,
materials containing asbestos or fonrnldehyde, and radioactive materials; (b) "Environrrental Law' rreans federal
laws and laws of the jurisdiction v.here the Property is located that relate to hælth, safety or mvironrrental protection;
(c) "Environmental Oeanup" includes any response action, rerredial action, or rermval action, as defined in
Environrrental LaW; and (d) an "EnviroI1ITffital Condition" rreans a condition that am cause, contribute to, or
otherwise trigger an EnviroI1ITffital Oeanup.
Borrov..er shall not cause or permit the presmce, use, disposal, storage, or release of any Hazardous Substances,
or threatm to release any Hazardous Substances, on or in the Property. Borrov..er shall not do, nor allow anyone else
to do, anything affecting the Property (a) that is in violation of any Fnvironrrental Law, (b) vJllch creates an
Fnvironrrental Condition, or (c) vJllch, due to the presmce, use, or release of a Hazardous Substance, creates a
condition that adversely affects the value of the Property. The preceding mo sentmces shall not apply to the
presence, use, or storage on the Property of small quantities of Hazardous Substances that are gmerally recognized
to be appropriate to nonrnl residmtial uses and to maintenance of the Property (including, but not ,limited to,
hazardous substance:; in COnsuIrer products).
Borrov..er shall prorrptly give Lender written notice of (a) any investigation, claim, denmd, lawsuit or other
action by any governrœntal or regulatory agmcy or private party involving the Property and any Hazardous Substance
or Fnvironrrental Law of vJllch Borrov..er has actual knovviedge, (b) any Fnvironrrental Condition, including but not
limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any
condition caused by the presence, use or release of a Hazardous Substance vJllch adversely affects the value of the
Property. IfBorrov..er learns, or is notified by any governrœntal or regulatory authority, or any private party, that
any rermval or other remxliation of any Hazardous Substance affecting the Property is necessary, Borrov..er shall
prorrptly take all necessary rerredial actions in accordance with Fnvironrrental Law Nothing herein shall create any
obligation on Lender for an FnviroI1ITffital Oeanup.
B:mo\\cr Initials: ~ C#D
WY'av1INS-Snde Farrily-Fænie MaelR'edde Mac LNFrnVlINSTRJv1E3\IT - MER3
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NON-UNIFORM COVENANTS. Borrov,er and Lender further covenant and agree as follows:
22. Acceleration; ReIœdies. Lender shall give notice to Bormwer Plior to acceleration following
Bormwer's bl'each of any coverumt or agreerœnt in this Seemi ty Instrurœnt (but not plioI' to acceleration under
Section 18 UIÙess Applicable Law pmvides otherwise). The notice shall specify: (a) the default; (b) the action
requked to cm-e the default; (c) a date, not less than 30 days fmm the date the notice is given to Bon-ower, by
which the default must be cwm; and (d) that failure to cure the default on or befoœ the date specified in the
notice may result in acceleration of the SlIIm secured by this Security Instnllœnt and sale of the Propeliy. The
notice shall fm1:her infOlm Bormwer of the light to reinstate after acceleration and the light to bling a cowi
actionto assert the non-existence of a default or any other defense of Bon-ower to acceleration and sale. If the
default is not CUlm on or before the date specified in the notice, Lender at its option may require innœdiate
payment in full of all SlIIm secured by this Seelllity Instnuœnt without fm1her demand and may invoke the
power of s.lle and any other remedies pennitted by Applicable Law. Lender shall be entitled to collect all
expenses incunm in pursuing the reIœdies pmvided in this Section 22, including, but not limited to, reasonable
attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lendel" shall give notice of intent to foreclose to Bon-ower and to the
person in possession of the Pmperty, if different, in accordance wid1 Applicable Law. Lender shall give notice~
of the sale to Bon-ower in the manner pmvided in Section 15. Lender shall publish the notice of sale, and the
Propeliy shall be sold in the manner presclibed by Applicable Law. Lender or its designee may punTh'ÍSe the
Propeliy at any sale. The pmcœds of the sale shall be applied in the following order. (a) to all expenses of the
sale, including, but not limited to, reasonable attorneys' fees; (b) to all S1llm secmm by this Secmity
Instnllœnt; and (c) any excess to the person or persons legally entitled to it.
23. Release. Upon payrœnt of all sum; secured by this Security Instrutrent, Lender shall release this Security
Instrutrent. Borrov,er shall pay any recordation costs. Lender rrny charge Borrovær a fee for releasing this Security
Instrurœnt, but only if the fee is paid to a third party for services rendered and the charging of the fee is pennitted
under Applicable Law:
24. Waivers. Borrovær releases and waives all rights tmder and by virtue of the horœstead exerrption laws
of ~oming.
furrO\\er Initials: -CID Q ¡0D
Wr'C1v1II\G-Snde Farrily-Falnie MaeJFredde Mac LNFœv1INSTFUv1ENf - MER)
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BY SIGNING BELO\V, Borrov..er accepts and agrees to the term; and covenants contained in this Security
Instrurœnt and in any Rider executed by Borrovær and recorded v.ith it.
59
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M DEMLER -Borrov..er
CALVIN R DEMLER
(Seal )
-Borrov..er
(Seal)
-Borrov..er
(Seal )
-Borrov..er
(Seal )
-Borrovær
Witness:
Witness:
Jð
..o.-£J rvt -.
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WiCJv1It\G-Sinoe Farrily-Fænie MaelFfedde Mac LNFtHv1INSTRJv100 - MER>
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State of \\yorning
COlIDty of LINCOLN
)
) ss.
)
cn0260
The foregoing instrurœnt was acknovviedged before Ire by CARMELA M DEMLER, CALVIN R
DEMLER
this '29TH
day of
JUNE. 2006
Witness nw hand and official seal.
(Seal)
/0
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Notary Public
Sf ~ " J \A.'1 ev..
Print or Type Narre
.tv:ty commission expires: /, ¡;1.. 3 - O¡
WYav1II\G-Snde Fanily-Rnnie Mae'Fredde Mac LNFæv1INSTRJv1ENT - MER)
Form 3051 1/01' Page 14 of 14
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