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HomeMy WebLinkAbout919958 60386 (01) ~~~~~~m~¡!~~~;~ After Reco~9ing~ To: FIRST NATIONAL BANK. WEST ro POX 3110 . ALPINE WYCMIN:; 83128 Loan NÚrrt:er: 128677449 C00546 RECEIVED 7/5/2006 at 10:26 AM RECEIVING # 919958 BOOK: 625 PAGE: 546 JEANNE WAGNER __~'~_~~~~~OU_NTY CLERK, KEMMERER, WY [~NxNe This Une fa' FUa-dng D:ia] MORTGAGE MIN: 100015700068984919 DEFINITIONS Words used in multiple sections of thisOOcurn:nt are defined below and other v.ords are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of v.ords used in this cbcurœnt are also provided in Section 16. (A) 'SecUlityInstnuœnt"rrænsthisdxwrent, Mich is dated JUNE 26, 2006 ,together wth all Riders to this docuro:nt. (B) "Bonmve.·"is LCOIS W. PAŒITE AND PATRICIA PACIITE, HUSBAND AND WIEE AND GRECDRY G. PACHIE AND LISA HOFMANN PACHIE, HUSBAND AND WIFE AIL AS JOINr TEJ:\!AT:\JTS .~ Porrov.er is the rrortgagor under this Security Instrum:nt. (q tMERS" is Nbrtgage Electronic Registration Syst~ Inc. MERS is a separate corporation that is acting solely as a noninee for Lender and Lender' s successors and assigns.MERS is the nnrtgageewu.ler this SecUlity Instnuœnt. 1v1ERSis organized and ex:ìstingmder the ]a~ ofDela'MU'e,· and has an address and telephone nl.lITÌJer of P. 0. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) ''Lende.·tt is FIRST NATIONAL BANK WEST ú J -_../ Lender is a A NATIONAL BANKIl'iG ASSCCIATION and existing under the laws of WYc:MI:N3 Lender's address is 100 GREYS RIVER ROAD, ALPll\lE, WYCMING 83128 organized (E) 'Note"rrænsthe promissory note signed by Porro\WI and dated JUNE 26, 2006 The Note states that Barrov.er 0\\eS Lender SIX HUNDRED THOUSAND AND 00/100 Dollars (0. S. $ 600, 000. 00 ) plus interest. !tmov.er hasprorrised to pay this debt in regular Periodic Pay¡rents and to pay the debt in full not later than JULY 1, 2036 . (F) "Property" mæIlS theproperty that is described belowunder the heading "Transfer of Rights in the Property. " (G) ''Loan "rreans the debt evídencédby theNote, plus interest, anyprepaym:nt charges and late charges due under the Note, and 311 SU!11) due under thís SecurityInstrum:nt, plus interest. &.ro= hùfuds if (j;) ~ I' ?tiP INYctv1JN3-Snde Farrily-Fannie MaetFredcie Mac LNFCR\1INSTfUv1ENT - MffiS fa'm 3051 1/0f Page 1 of 14 DocMagic Ø'"~ 8ì"»649-1362 VM<W. cJ:x:nBgc. can (¿) . . 091.9958 OOC547 (II) ''Ridel's''Jreal1S all Riders to this Security Instrurœntthat are executed by Borro\\ef. ThefoHowngRiders are to be executed by Borro\\er [check box as applicable]: o Adjustable Rate Rider o Balloon Rider o 1-4 Farrily Rider o Conoominium Rider o Planned Unit DevelopIre1t Rider o Bi\\ækly Paymnt Rider o Second Harre Rider o Other(s) [specifY] (I) "Applicable law" I1'm1S all cootrolling applicable federal, state and local statutes, regulatiOl1S, ordinances and ~nistrative rules and orders (that have the effect oflaw) as v.ell as all applicable final, non-appealable judicial oplmons. (J) 'ûmmunity Association Dues, Fees, and Assessnmts"IreanS all dues, fees, a<>sessJmlts and other charges that are irrposed on Borro\\er or the Property by a conoominium association, hotœOW1ers association or similar organization. (K) "Electronic Funds TransfeJ'''rreans any transfer of funds, other thana transaction originated by check, draft, or similar paper instrurœnt, v.J1Ïch is initiated through an electronic tenrinal, telephonic instrurrent, corrputer, or rrngnetic tape so as to order, instruct, or 8ijthorize a financial institution to debit or credit an aax>unt. Such term includes, but is not lirritedto, point..of-sale transfers,autormted teller ImChine transactions, transfers initiated by telephone, wre transfers, and autormted clearinghouse transfers. (L) . "EscrowItern;" IreanS those item; that are described in Section 3. (M) ''MisœJlaneousPmceeds'' I1'm1S any cot11JerlS81ion, settlem:nt, award of dazmges,or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (¡)dazmge to, or destruction of, the Pröperty; (û) condermation or other taking of all or any part of the Property, (iii) conveyance ìn lieu of condenmtion; or (iv) misrepresentations of, or om5SÌons as to, the value and/or condition of the Property. (N) "Mortgage IIlSW'3llce" IreanS insurance protecting Lender against the nonpaym:nt of, or default on, the Loan. (0) ''Pe1iodic Payment" rreans the regularly scheduled armmt due for (i) principal and interest under the Note, plus (ii) any armunts under Section 3 Qf this Security Instnnœnt. (P) ''RESPA'' rreans theReat Estate SettleIre1t Procedures Act (12 U.S.c. ~l et seq.) and its irrplem:nting regulation, Reb~ation X (24 C.F.R Part35(0), as they night be anmded from tirre to tin~, or any additional or sucœssorlegislationor regulation thatgovems the sarre subject matter. As used in this Security Instrurrent, IlRESP N refers to all requirecrmts and restrictions that areiIII>OSed in regard to a "federally related IIDrtgage loan" evm if the Loan does not qualifY as a "federally related IIDrtgage loan" under RESP A (Q) 'Sucœssor inIntereSí of Bon<ower" Jreal1S any party that has tßkm title to the :Property, v.hether or not that party has assurred Borrov.ec' sobligations under the Note and/or this Security Instrurn:nt Bocro_!niliaIs: 'if f!fi¿:» p cjff} . .. ,-;I'Ø( WYCMIf'G--$nQIe Farrily-F<mie MaelRedie Mac lNF<Rv1INSTRJv100 - MER) Form 3051 1/01 Page 20f 14 DocMagic~ &XJ.ô49.-1362 YoIW\V, ctx:rragc. can ~..'.''''.''H.'.~..'',.'. ·::~!;¡1~!¡;;1!,;~':};.;~;;¡ :::!:m:::::w::::::;~¡ ~~~¿~'.;I ~~~f¡r~¿1~l~~~ . 091.9~j'5·8= ,~f«l:~: TRANSFffi OF RIGHTS IN THE PROPffiTY COC548 This Security Instn.urent secures to Lender: (i) the repayzrent of the Loan, and all renewals, extensions and ITIXlifications of the Note; and (ii) the perfonmnce of furro\.\er' s covenants and agreerœnts under this Sectn1ty InstruIn:nt and the Note. For this purpose. furrov.er cbes hereby rrortgage. grant and convey to:MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns ofMERS, with pov..er of sale. the following described property located in the CŒJNTY of LTIrnLN .. _ rT:. y~ of'Re:cordìng J. Juri&:liction] (Narœ·ofReccrdìng Juri.<rlction] SEE LEGAL DESCRIPrICN A'ITACHED HERE'IO AND MADE A PART HEREOF AS EXHIBIT "A". v.hid1 currently has the address of 1356 CŒJNTY ROAD 109 (ROBERT WOLFLEY ROAD) [Street] ETNA [City] , Wyoming 83118 ("Property Address"): [Zip Cede] TOOElHER WIlli aU the iIIJ>roverœnts now or hereafter erected on the property, and all easerœnts, appurtenances, and fixtures nowor hereafter apart of the property. All replacerœnts and additions shall also be covered by this Security Instrurrent. All of the foregoing is referred to in this Security Instrurrent as the "Property. " fu.rrov..er understands and agrees that MERS holds only legal title to the interests granted by Borrov.er in this Sectn1ty Instrurn:nt, but, if necessary to coIIJ>ly with law or custom, MERS (as nominee for Lender and Lender' s successors and ~igns) has the right to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrurœnt. BORROWER COVENANTS that Bo.rro'®r is laOOJlly seised of the estate hereby conveyed and has the right to rrortgage, grant and convey the Property and that the Property is unencLnTi>ered, except for enCUn1xances of record Ib.rro\\er wa.rrants and will defend generally the title to the Property against all c1airrs and demands, subj ect to any encurrbrances of record nnsSECURTIYINSIRUMENT cormines uniformcovenants for national usemdrm-uniformcovenants with limited variations by jurisdiction to constitute a uniform security iI1Strurœnt covering real property. UNIFORM COVENANTS. fu.rro\\er and Lender covenant and agree asfollov.s: l.Payrœnt ofP1incipal, Interest, Escrow Ite¡m, PrepayrrrntÜ1arges, andlateÜ1arges. fu.rro\\er shall pay \\hen due the principal of, and interest on, the debt evidenced by the Note and any prepayIrent charges and late charges due under the Note. furrov...er shall also pay funds for Escrow Item; pursuant to Section 3. Payrn;ntsdue under the Note and this Security Instrurœnt shall be made in U. & currency. Ho\\eVer, if any d1eck or other instrurœnt received by Lender aspayrœntunder the Note or this Security Instrunmt is returned to Lender unpaid, Lender Imy require that any or all subsequent paymnts due IDlder the Note and this Security Instrurrent be tmde in one or rrore of the following fOrIn), as selected by Lender: (a) cash; (b) IroI1ey order; (c) certified check, bank d1eclc, treasurer' scheck or cashier' sd1eclc, provided any such check is draW'} upon an institution v.hose deposits are insured by a federal agency, instrurœntality, or entity; or (d) Electronic Funds Transfer. Paytœntsare deerœd received by Lender \\hen received at the location designated in the Note or at such other location as rmy be designated by Lender ín aœordance with the notice provisions in Section 15. Lender rmy return _hú~U ~ $' £ w{c:::tv1IN3-SndeFarrily-Fa1nieMaelR-~e Mac LNRRv11 . 8'JT - MER) DocMagic ~.&»ô49-1362 Form 30511/01' Page 3 of 14 WYNI.cbctn:igc.can 091.9958 000549 any payImIt or partial payrœnt if the paym:nt or partial paym:nts are insufficient to bring the Loan current. Lender rmy æ.cept any payrœnt or partial payrrent iIl$Ufficient to bring the Loan current. Vvithout waiver of any rights hereunder or prejudice to its rights to refuse sum payrrent or partial payrœnts in the future. but Lender is not obligated to apply sud1 payrrents at the tirre such payrœnts areacœpted If each Periodic Payrrent is applied as of its schedlÙed due date, then Lender need not pay interest on unapplied funds. Lender rray hold such unapplied fimds until Borrov.er mùœs payrrmt to bring the Loan current. IfBorro\\ef 00es not 00 so \\ithin a reasonable period of tirre, Lender shall either apply such funds or return them to Borro\\ef. If not applied earlier, such funds \\ill be applied to the outstanding principal balance under the Note iI11rŒdiately prior to foreclosure. No offset or claim \\hich furrov.er night have now or in the future against Lender shall relieve furrov.er from rmkìng payrœnts duè under the Note and ti1Ìs Security fustrurœnt or perfoming the covenants and agreerrents secured by this Security Instrurœnt. 2. Application of Paytœnts or Proceeds. Except as otherv.ise described in this Section 2, all payrœnts accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal duè under the Note; (c) aIIDunts due under Section 3. Such payrœnts shaH be applied to each Periodic Payrœnt in the order in \\hich it becarre due. Any rermining arrounts shall be applied first to late charges, second to any other annunts due under this Security Instrucœnt, and then to reduce the principal balance of the Note. If Lender receives a payrœnt fÌom Borro\\ef for a delinquent Periodic Paym:nt \\hich incJ udes a sufficient am:>lmt to pay any late charge due, the payrœnt nny be applied to the delinquent payrœnt and the late charge. If nnre than one PeriodicPayrœnt is outstanding, Lender rmy apply any payrrent received fÌom furrov.er to the repayrrmt of the Periodic Payrœnts if, and to the extent that, each payrœnt can be paid in tì.ùl. To the extent that any excess exists after the payrœnt is applied to the tì.ùl payrœnt of one or rmre Periodic Payrnnts, sum excess rray be applied to any late charges due. Voh.mtary prepayrœnts shall be applied first to any prepayrrent charges and then as described in the Note. Any application ofpayrœnts, insurance proceeŒ, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the aIIDunt, of the Periodic 1>ayrœ1ts. 3. Fwuls for &crow Items.furro\\ef shall pay to Lender on ti1eday Periodic Payrœnts are due lIDder the Note, lIDtil the Note ispaid in full, a Slll11 (the "F4I1ds") to provide for payrœntof arrolIDts due for: (a) taxes and asses.sm:nts and other item; \\hich can attain priority over this Security Instrurmrt as a lien or enCl.1lTbrance on the Property; (b) læsehold payments orgrolIDd rents on the Property, if any; (c) premiurrn for any and all insurance required by Lender under Section 5; and (d) :M3rtgage Insurance prernl.ll'Œ, if any, or any sum; payable by furrov.er to Lender in lieu of the payrœnt of:M3rtgage Insurance prernurrn in occordance Vvith the provisions of Section 10. These item; are called "Escrow Item;." At origination or at any tirr:e during the term of the Loan, Lender rmy require that Comrnmity Association Dues, Fees, and Assessrœnts, if any, be escrowrl by Borro\\ef, and such dues, fees and assessrœnts shall be an Escrow Item furro\\ef shall prorrptly furnish to Lender all notices of arrolIDts to be paid lIDder . this Sectiort furro\\er shall pay Lender the Funds for Escrow Item; unless Lender waives furro\\ef'S obligation to pay the Funds for any or all Escrow Item;. Lender rray \V<Úve furrov.er' s obligation to pay to Lender FlIDds for any or all EscrowItem; at any tirœ. Any such waiver rmy only be in Vvriting. In the event of such waiver, Borro\\ef shall pay directly, \\hen and \\here payable, the aIIDlIDts due for any Escrow Item; for \\hich payrœnt of FlIDds hæ been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payrœnt Vvithin such tirr:e period æLender rrny require. furro\\e(' S ob1ìgation to make such paym:nts and to provide receipts shall for all pllflX'Ses be deerred to be a covenant and agreerrent contained in this Security Instrurœnt, as the phrase "covenant and agreerrmt" is used in Section 9. IfBorro\\ef is obligated to pay Escrow Item; directly, pursuant to a waiver, and furro\\ef fails to pay the armlIDt due for an fucrow Item, Lender nny exercise its rights under Section 9 and pay such arrount and Borro\\er shall then be obligated under Section 9 to repay to Lender any sud1 arrount Lender nny revoke the waiver as to any or all fucrowItem; at any tirre by a notice given in accordance Vvith Section 15 and, upon sudue\t'OCßtÌon, furrov.ershall pay to Lender all Ftmds, and in such armlIDts, that are then required under this Section 3. Lender nny. at any tirre, collect and hold FlIDds in an armunt (a) sufficient to permit Lender to apply the Funds at the tirre~pecified under RESP A, and (b) not to exceed the rmximnn arrount a lender can require lIDder RESP A Lendershall estÏImte thearmunt of Fun cis due on the basis of current data and reasonable estÏm.Ites ófexpenditures of future Escrow Ite.rmorotherv.ise in accordance with Applicable l.æN. --. Jrùfuok: if & ~ p :hiP WYavtll\G-Snde Farrily-fcmie Mæ'Fredde Mac LNFŒv1I~ MERS DocMagic ~ ßOO.ô49-1362 Form 3051 1/0r . Page 4 of 14 ~cix:rmgc.can *!::*~:~::::::;J;: ~~~·i~~·:¡; :~~¡OO¡}~~)' 0919958 [00550 The Funds shall be held in an institution v.hose depJsits are insured by a federal agency, instnurentality, or entity (including Lender, if Lender is an instiMion \\hose deposits are so insured) or in any Federal Herre Loan Bank Lender shall apply the Funds to pay the Escrow Iterm no later than the tirre specified under RESP A Lender shall not charge Borrov.er for holding and applying the Funds, annually analyzing the escrow account, or verifYing the Escrow IteI'Œ. unless Lender pays furrov.er interest on the Funds and Applicable lawperrnits Lender to make such a charge. Unless an agreeIIa1t is rmde in 'Miring or Applicable law requires interest to be paid on the Funds, Lender shall not be required to pay furrov.er any interest or earnings on the Funds. furro\\er and Lender can agree in \\fÍting. ho\\eVef, that interest shall be paid on the Funds. Lender shall give to Borrov.er, without charge, an annual accounting of the Funds æ required by RESP A If there is a surplus of Funds held in escrow, æ defined under RESP A, Lender shall account to furro\\er for the excess funds in accordance with RESPA If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notifY Borrov.eræ required by RESP A, and furrov.er shall pay to Lender the arrount necessary to make up the shortage in accordance v.ith RESPA, but in no ITDfe than 12 rronthly payrrents. If there is a œficiency of Funds held in escrow, æ defined under RESP A, Lender shall notify furrov.er as required by RESP A, and furro\\Cf shall pay to Lender the arrount necessary to make up the deficiency in accordance v.ith RESP A, but in no rrore than 12 Trrmthly payrrmts. UIX>n payrrmt in full of all sum; secured by this Security 1nstl1lIm1t, Lender shall pro~tly refund to Borrov.er any Funds held by Lender. 4. Garges; liens.. Borrov.er shall pay all taxes, assessrrents, charges, finæ, and irqx>sitions attributable to the Property v.h.ich can attain priority over this Security Instnurent, leasehold payrrents or ground rents on the Property, if any, and Commmity A5s0ciation Duæ, Fees, and Assessrrents, if any. To the extent that these item; are Escrow Iterm, furrov.er shall pay them in the rrnnner provided in Section 3. furro\-\ef shall prorrptly discharge any lien v.hid1 has priority over this Security lnstrum;;nt unless furrov.er: (a) agrees in writing to the payrrmt of the obligation secured by the lien in a rrmner acceptable to I.enœr, but only so long as furro\\er is performing suchagreerrent; (b) contests the lien in good faith by, or defends against enforœrrent of the lien in, legal proceedin~ \\hich in Lender's opinion operate to prevent the enforcenmt of the lien Wlile those proceedings are pending, but only until such proceOOings are concluded; or (c) secures ITom the holder of the . lien an agreement satisfactory to Lender subordinating the lieú to this Security In.stIulm1t. If Lender detemines that any part of the Property is subject to a lien \\hid1 can attain priority over this Security Instrurrent, Lender nny give furro~ a notice ida1tifying the lieú. Within 10 days of the date on v.bichthat notice is given, furrov.er shall satisfY the lienor take one or rrore of the actions set forth above in this Section 4. Lender nny require furrov.er to pay a one-titre charge for a real estate tax verification and/or reporting service used by Lender in connection wththis Löan. 5. Propel1y Insurance. furrov.er shall keep the iJT1)roverœnts now existing or hereafter erected on the Property insured against loss by fire,.ha.zards included within the term II extended coverage, It and any other hazards including, but not limited to, earthquakes and floods, for v.hich Lender requires insurance. TIùs insurance shall be rmintained in the arrounts (including deductible levels) and for the periods that Lender requires. 'M1at Lender reqtÙres pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by furro\\ef subj ect to Lender's right to disapprove furrovær s choice, v.hich right shall not be exercised unreasonably. Lender ImY reqtÙre furrov.er to pay, in cormection with this Loan, either: (a) a one- tirre charge for flood 2I)lle detemination, certification and tracking services; or (b) a one-tirre charge for flood :zone determination and certification services and subsequent charges each titre rermppings or similar changes occur v.bic:h ræsonably mght affect Stich determination or certificatioIlBorrov.er shall also be res¡x>nsible for the payrœnt of any fees irrposed by the Federal F..rrergency Managerœnt Agency in cormection with the revÎewof any flood 2DI1e detemination resulting from an objection by Borrov.er. Iffurro\\ef fails to rmintain any of the coverages described above, Lendernny obtain insurance coverage, at Lender's option and Borrov.er' s expa1Se. Lender is under no obi igation to purchase any parti culartype or arrount of coverage. Therefore, such coverage shall cover Lender, but nightor might not protect Borro\\er. furro\\er's equity in the Property, or the contents of the Property. against any risk,ha.zard or liability and might provide greater or lesser coverage than \\as previously in effect. furrov.er acknOw.edges that the cost of the insurance coverage so obtained might si gnifi cantly exceed the cost of insurance that Borro\\efcould have obtained. Any arrounts disbursed _,,!niûals if éj) Iff ~ w{Qv\Jl\G-Snde Farrily-Fannie MaelR'edde Mac LNF<Hv\ INSTfUv1ENT - MER> DocMagic ~ 8O().M9-1362 Rxm3051110r Page50f14 www.dxtmgc.can 0919958 C00551 by Lender under this Section 5 shall becorre additional debt ofBorro\\ef secured by this Security Instrum:nt. These armunts shall bear interest at the Note rate rrom .the date of disbursem=ot and shall be payable, with such interest:, u¡::m notice rrom Lender to Borrov.er requesting payrœnt. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard rrortgage cl~ and shallruureLender a<> rrortgageeandlor a<> an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borro\\ef shall pro11lJtly gi ve to Lender all receipts of paid premíum; and renewal notices. If Borro\\ef obtains any form of insurance coverage, not otherwise required by Lender, for darroge to, or destruction of> the Property, such policy shall include a standard rrortgage clause and shall ruure Lender as rrortgagee and/or a<> an additional loss payee. In the event of loss, Borro\\ef shall give prorrpt notice to the insurance carrier and Lender. Lender rrny rrnke proof of loss if not tmde prorrptly by Borro\\ef. Urùess Lender and furro\\ef otherwise agree in writing, any insurance proceeds, \\hether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is econorrically fæsible and Lendt>I' s sæurity 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 ffiSure the 'Wrk has be.tn corrpleted to Lender s satisfaction. provided that such inspection shall be undertaken prorrptly. Lmder rrnydisburse proceeds for the repairs and restoration in a single paynmt or in a series of progress payrrmts as the \\Qrk is corrpleted Unless an agreerœnt is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrov.er any interest or earning; OIl such proceeds. Fees for public adjusters, or other third parties, retained by Borro\\ef 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 feasibl e or Lender' s security \\Quid be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrurrmt, v.hether 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 Borro\\ef abancbns the Property, Lender rmy file, negotiate and settle any available insurance claim and related matters. IfBorrov.er does not respond within 30 days to a notice rrom Lender that the insurance carrier has offered to settle a claim, then Lender rmy negotiate and settle the claim The 3O-day period will begin v.hen the notice is given In either event, or if Lender acquires the Property under Section 22 or otherwise, Borroy.er hereby assigns to Lender (a) 'furrov.er's rights to any insurance proœeœ in an armunt not to exceed the armunts unpaid under the Note or this Security Instrurœnt, and (b) any other ofBorro~ s rights (other than the right to any refund of unearned premíum; paid by Borro\\ef) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proœeœ either to repair or restore the Property or to pay armunts unpaid under the Note or this Security Instrwrent, v.hether or not then due. 6. Or.cupancy. Borro\\ef shall occupy, establish. and use the Property as Borro~ s principal residence \\ithin 60 days after the execution of this Security Instrurœ:rt 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 agrees in \\fÎting, \\hi ch consent shall not be unreasonably withheld, or unless extenuating circurmtances exist \\hich are beyond Borrov.er' s control. 7. Preservation, Maintenance and Protection of the Property; h1SpeCtions. Borro\\ef shall not destroy, damage or irrpair the Property, allow the Property to deteriorate or comnit waste on the Property. \W1ether or not Borro\\ef is residing in the Property, 'furroy.er shall rmintain the Property in order to prevent the Propertyrrom deteriorating or decreasing in value due to its conditiO!l Urùess it is detemined pursuant to Section 5 that repair or restoration is not econonìcally feasible, Borro\\ef shall prorrptly repair the Property if damaged to avoid further deterioration or darnage. If insurance orcondenmtion proœeœ are paid in COIlIlection with darmge 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. Lenderrrny disburse proœeœ for the repairs and restoration in a single pay¡rent or in a series of progress payrœntsa<>the v.ork iscorrpleted. If the insurance or condermation proceeds are not sufficient to repair or restore the Property, Borrov.eris not relieved ofBorro\\ef' s obligation for thecorrpletion of such repair or restoration. &mMtt-JL(L ~ p ~ WfO\1If\G-$nde Fanily-FmrÏie MaeJFredde Mac LNFœv\ I ENT - MOO Form30511/0r Page6of14 DocMagic ~ 8IXJ.ô49-1362 W\'hv. cbararJc.can ~~~m~i~~{;¡ m%~~ifili1j;i 091.9958 C00552 Lender or its agent may make reasonable entries upon and inspections of the Property. Ifit has reasonable cause, Lender rœy inspect the interior of the irrprovem:nts on the Property. . Lmder shall give Borrov..er notice at the tirre of or prior to such an interior inspection specifying such reasonable cause. 8. Bon·ower's Loan Application. llirrov.er shall be in Mault if, during the Loan applic&ion process, llirro\\ef or any persons or entitie5actÌng at the direction ofBorrovær onMth Borro~ s knovJedge or consent gave materially false, misleading, or inaccurate infòrrrmion or statenrots to Lender (or failed to provide lender with material inforrmtion) in oonnection wth the Loan. Material representations include, but are not limited to, rttJresentations concerning Borrov.er s occupancy of the Property as llirro\\ff's principal residence. 9. P1'Otection of Lender·ls Interest in the Pt'Ope11y and Rights Under ttùsSecurity Instrurrrot. If (a) Borro\\ef fails to perform the covenants and agreem:nts contained in this Security Instrurrmt, (b) there is a legal proceedingthatrright si gnifi candy affect lender' s interest in the Property and! or rights under this Security II1strurœnt (such æ a proceeding in bankruptcy, probate, for condermarion or forfeiture, for enforcem=:nt of a lien v.hich may attain priority over this Seœrity Instrum:nt or to enforce la\vs or regulations), or (c) llirrovær has abancbned the Property, thEn Lender rmy 00 and pay for \\hatever is reasonable or appropriate to protect Len&r sinterest in the Property and rights under this Security Instrurrent, including protecting and/or assessing the value of the Property, and securing and/orrf1JaÍring the Property. Lender's actions can include, but are not linitedto: (a) paying any sum; secured by a lien v.hich has priority over this Security Instrurœnt; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in thePropeny and! or rights lB1der this Security InstrI.1I'Œ'nt, incl uding its seülfed position in a bankruptcy proceeding. Securing the Property includes, but is not lirrited to, entering the Property to mùœ repairs, change locks, rttJlace or board up doors and window;, drain Water from pipes, eliminate building or other code violations or dangerous conditions, and have utiliti es turned on or of[ Although Lender rrny take action lB1der this Section 9, LenderÒJes nOt haveto 00 so and is rot lB1der any duty or obligation to 00 so. It is agreed that Lender incurs no liability for not takingany or all actÌons authorized under this Section 9. Any 3ITDlB1ts disbursed byl.ender under this Section 9 shall œ.urre additional debt ofBorro\\er secured by this Security:Instrumnt. These3ITDlB1ts shall bear interest at the Note rate from the date of disburserœnt and shall be payable, with such interest. upon noticerrom Lender to llirro\\er requesting payrœnt. . If this SecurityInstn.Jnmt isona leasehold, Borro~ shall corrply with all the provisions of the lease. If Borrov.er acquires fee title to the Property, theleasehold and thefeetitle shall not rrerge unless Lender agrees to the lrerger in miting. . 10. Mortgage Insw"aIlœ. If Lender required :M:>rtgage Insurance æ a condi tion of rmking the Loan, Borrovær shall pay the preniUfŒ required to maintain the :M:>rtgageInsurance in effect. If, for any reason, the !\-brtgage Insurance coverage required by Lender œæes to be available ITom the rrortgage insurer that previously provided such insurance and Borro\\er \WSrequired to make separately designated paym:nts to\¥<lfd the premil.1TJE for Mortgage Insurance, Borro\\er shall pay the prerrium; required to obtain coverage substantially equivalEnt to the :M:>rtgage Insurance previously in effect, at a cost substantially equivalEnt to the cost to BorrO\\ef of the :M:>rtgage Insurance previously in effect, rrom an alternate rrortgage insurer selected by Lender. If substantially equivalent :M:>rtgage Insurance coverage is not available, Borrovær shall continue to pay to Lender the 3ITDlB1t of the separately designated payrœnts that \\ere due v.hen the insuranœ coverageceæed to be in effect. Lender will accept, use and retain these payrrmtsæ a non-refundable loss reserve in lieu of:M:>rtgage Insurance. Such loss reserve shall be non-refundable, notv.ithstanding the fact that the Loan is ultimate! y pai d in full, and Lender shall not be required to pay Borrovær any interest or earning') on such loss reserve. Lender can no longer require loss reserve payrœnts if!\-brtgage Insural1œ coverage (in the anDlB1t and for the period that Lenderrequires) provided by an insurer selected by Lender again becorre; available, is obtained, and Lender requires separately designated paYITHlts to\¥<lfd the premum; for M:>rtgage Insurance. If Lender required'M:>rtgage Insurance as a condition of rrnking the Loan and Borrovær wa') required to make separately designatedpayrœnts to\¥<lfd the premium; for :M:>rtgage Insurance, BorrO\\ef shall pay the premiun::s required to rmintain Nbrtgage Insurance in effect, or to provide a non-refundable loss reserve, lB1til lender's requirerœnt for !\-brtgage Insurance ends in accordance with any mitten agreem:nt betv.œ1 Borro\\er and Lenderproviding for such teminationor lB1tìl termination is required by Applicable Law Notlùng in this Section 10 affects Borro\\er' s· obligation topaJ interest at the rate provi ded in the Note. MJrtgage Insurance reirrPursesl.a:ider (or any entity that purchases the Note) for œrtainlosses it rrny incur ifllirrovær doeS not repay the Loan as agreed. Borro\\ef is hot a party to the .M:>rtgage Insurance. furo= hû6~.¿p ~~ ~ f JiJL WY'avlll\G-Snde Farrily-Farie Mæ'Ffedde Mac LNRH\1INSTRJv1. ENT - MER:> DocMagic ~~13ô2 Form 30511/0r Page 7 of 14 www.cb:nag"c.txm 091.9958' C00553 M>rtgage insurers evaluate their total risk on all such insurance in force rrom tiTre to tiTre, and rmy enter into agreem:nts wth other parties that share or rmdifY their risk, or reduce losses. These agreerrmts are on term; and conditions that are satisfactory to the rrortgage insurer and the other party (or parties) to these agreemnts. These agreerœnts rmy require the rrortgage insurer to make paym::nts using any source of funds that the rrortgage insurer rmy have available (v.hích rmy include funds obtained rromMOrtgage Insurance premiurn;). As a result of these agreerrmts, Lender, any purchaser of the Note, another insurer,. any reinsurer, any other entity, or any affiliate of any of the foregoing rmy receive (di rectly or indirectly) arrounts that cieri ve rrom (or rrìght be characterized as) a portion of Borro\\ef' s payrrents for MOrtgage Insurance, 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 prem urn; pai d to the insurer, the arrangern:nt is often terrred "captive reinsurance." Further: (a) Any such agl'een~l1ts \Vill not affect the mmunts that Bon"OWer has agreed to pay for M0l1gage Insw'al1ce, or any othe1' terms of the Loan. Such agree¡œnts will not ina-ease the amxmt BoITOWer will owe for M:n1gage Insurance, and they \Vill not entitle BolTOwer to any refund. (b) Any such agreements \ViII not affect the rights BoI1'Ower has - if any - with respect to the l\'L)11gage Insw-ance mulel'the HOIŒowners Pmtection Act of 1998 or any other law. These lights may include the light to receive certain disclosures, to request and obtain cancellation of the Mortgage Inswance, to have the Mor1gage Insurance teminated automatically, and! or to receive a reflD1d of any Mortgage Insurance premiwns that were m~ at the time of such canœllation or tennination. 11. .Assigwœnt of Misccllancous Proceeds; FOlfcitw"C. All Misœllanoous Proceeds are hereby assigned to and shall be paid to Lenœr. If the Property is darmged. such Msœllanoous Proceeds shall be applied to restoration or repair of the Property , if the restoration or repair isecononically feæible and Lender's security is not lessened. During such repair and restoration period. Lencb" shaH have the right to hold such Mscellanoous Proceeds until Lender has had an opportunity to inspect such Property to ensure the v..ork has 00:n corrpleted to Lender's satisfaction. provided that such inspection shall be undertaken prorrptly. Lender rmy pay for the repairs and restoration in asingle disburserœnt or in a series of progress paym:nts asthe v..ork is corrpleted. Unless an agreerrmt is rmdein \\fÌting or Applicable Law reqlriresinterest to be paid on ~uch Msœ1lanoous Proceeds, Lender shall not be required to pay Borro~ any interest or earning:; on such Misœllanoous Proceeds. If the restoration or repair is not .econorrìcally feæible or Lender's security \\QuId be lessened, the MisceIlanoous Proceeds shall be applied to the SUITE secured by tlûs Sæurity Instrurrmt, ooether or not then due, ~th the excess. if any, paid to Borrovær. Such Misœ1lanooll'> 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 Misœl I anoous Proceeds shallbe applied to the SUl11') secured by this Security Inst:runmt. \\bether or not thm due, wththeexcess, if any, paid to Borrovær. In the event of a partial taking, destruction, or loss in value of the Property in vJrich the fair market value of the Property irnœdiate1y before the partial taking, destruction, or loss in value is equal to or greater than the arrount of the SUITE secured by this Security Instrurtmt imrrediate1y before the partial taking destruction, or loss in value, unless Borro\\ef and Lender otherwise agree in \\fÌtÏng, the SUITS secured by this Security Instrurœnt shall be reduced by the anDunt of the Misœ1lanoous Proceeds IT1.Ùtiplied by the followng rraction: (a) the total arrount of the SUITS secured imrrediately before the partial taking, destruction. or loss in value divided by (b) the fair market val ue of the Property imrrediately before the partial taking destruction, or loss in value. ~ balance shall bepaid to Borro\\ef. In the event of a partial taking, destruction. or loss in value of the Property in ooich the fair market value of the Property imrediately before the partial taking destruction, or loss in value is less than the mrountof the SUITE secured inm:diateiy before the partial taking destruction. or loss in value, unless Borrovæf and Lender otherWse agree in \\fÌtÏng, the Miscellanoous Proceeds shall be applied to the sum; secured by tlûs Security Instrum:nt v.hether or not the SUITE are then due. lfthe Property is abandoned by Borrov.er, or if. after notice by Lender to Borrov.er that the ~posing Party· (as defmed. in the next sentence) offers to rmke an a\MIfd to settle a claim for damages, Borrovær fails to respond to Lender wthin 30 days after the date the notice is given, Lender is authorized to collect and apply the Misœllanoous Proceeds either to restoration Of repair of the Property Of to the SUITE secured by this Security Instrurn:.'nt, v.hether _ lrub,",' H ~ 1) f jøf VWO\11I\G-Snde Fanily-RrnieM ~e Mac LNFrn'v1INSTR1v1ENT - MER3 DocMagic el!igwcJœ ~1362 Fam 3051110r Page 8 of 14 www.c:b::migc.cah ~:~:::::~~*:::::~¡;: u:,r~'~.~'~'~'~':~{¡'I; ~~~ill~~mf:¡I8~:¡ 0919958 CO('554 or not then due. lI~posing Partyll Irea11S the third party that ov.es Borro\\ef Miscellaneous Proceeds or the party against v.hom Borrov.er has a right of action in regard to Miscellaneous Proceeds. Borro\\er shall be in default if any action or proceeding, v.hether civil orcrirrinal, is begm that, in Lenœr's j udgrœnt, could result in forfeiture of the Property or other material irrpaimmt of Lender' s interest in the Property or rights under this Security Instrurœnt. Borro\\ef can cure such a default and, if accel eration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be disnissed with a ruling that, in Lender's j udgrœnt, precludes forfeiture of the Property or other material irrpaimmt of Lender's interest in the Property or rights under this Security Instrurœnt. The proceeds of any a\Wfd or claim for darmges that are attributable to the irrpainœnt of Lender' s interest in the Property are hereby æsigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Bon"Ower Not Releæed; ForbeardJlœ By Lender Not a Waiver. Extc:nsion of the tirœ for payrrmt or m:xiification of armrriætion of the SUl11) secured by this Security Inst:rurrent granted by Lender to Borro\\er or any Successor in Interest of Borro\\er shaH not operate to release the liability of Borro'M:'I' or any Sucœssors in Interest of Borro'M:'I'. Lender shall not be required to COIIIre1ce proceedin~ against any Successor in Interest ofBorro\\ef or to refuse to extend tirœ for paym:nt or othernise m:xiify armrriætion of the SllIm secured by this Security Instrurœnt by reason of any demmd rrodeby the original Borro\\er or any Sucœssors in Interest ofBorro\\er. Any forbearance by Lender in exercising any right or rerœdy including, without limitation. Lender's accq:>tance of paym:nts rrom third persons, entities or Sucœssors in Interest ofBorrov.er or in armunts less than the armunt then due. shall not be a waiver of or preclude the exercise of any right or rern:rly. 13. Joint and Severa1l..iability; Co-signel~; SucœssOl~ and Assigns Bowul. Borro\\er covenants and agrees that Borro\\eT' s obligations and liability shall be j oint and several. Ho\\e\ier, any Borro\\er v.ho co-signs this Security Instrurrent but does not execute the Note (a llco-signer'): (a) is co-signingthis Security Instrurœnt only tom::>rtgage, grant and convey the co-signer's interest in the Property tmder the term; of this Security Instn.nn.nt; (b) is not personally obligated to pay the $UIŒ secured by this Security Instrtnm1t; and (c) agrees that Lender and any other Borro\\ercan agree to extend, m:xiify, forbear or rmke any acconmx.iations v.ith regard to the term; of this Security Instnurmt or the Note v.ithout the co-signer' s consent Subject to the provisions of Section 18, any Sucœssor in Interest of Borrower \\ho assllm:'S Borro~s obligations tmder this Security Instrum:nt in'Miting, and is approved by Lender, shall obtain all ofBorro\\eT' s rights and benefits under this Security Inst:n.uœnt. Borrov.er shall not be releæed rromBorrov.er' s obligations and liability under this Security Instrunmt unless Lender agrees to such release inwriting The covenants and agreem:nts of tlús Security InstI1Il1a1t shall bind (except as provided inSection 20) and benefit the sucœssorsand æsigns of Lender. 14. Loan Ow-ges. Lender nny charge Borro\\er fees for services perform:d in connection with Borro~ s default, for the purpose of protecting Lender's interest in the Property and rights under this Security InstruIrent. 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 Instrunmt to charge a specific fæ to Borro\\er shall not be construed as a prohibition on the charging of such fee. Lender !my not charge fees that are expressly prohibited by this Security Instrunmt or by Applicable La\¥. If the Loan is subj ect to a law v.hich sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pernitted limíts, then: (a) any such loan charge shall be reduced by the armunt necessary to reduce the charge to the permitted limít; and (b) any SUl11) already collected from Borrov.er v.hich exceeded pemitted lirrits will be refi.mded to Borrov.er. Lender rmy choose to make this refundby reducing the principal 0'Mrl under the Note or by Irnking a direct payrrn1t to Borrov.er. If a refi.md reduces princìpal, the reduction will be treated as a partial pn:payrrn1t without any prepayrrmt charge (v.hether or not a prepayrrmt charge is provided for mder the :Note). Borrower's acceptance of any such refund rœde by directpayrœnt to Borrov.er v.ill constitute a v.aiver of any right of action Borro\\ef rright have arising out of sud1 overcharge. 15. Notices. All notices given by Borro\\er or Lender in cormection with this Security InstruIœnt rrust be in witing Any notice to Borrov.erÎn connection v.ith this Security Instrurœnt shall be deerm:l to have been given to Borro\\ef v.henmliled by first class múl or v.hen actua1lydelivered to Borro\\ef's noticeoodress if sent by other rrems. Notice to any oneBorro I constitute notice toa11 Borro\\eTS unJ essApplicabl e Lawexpressly requires furro\\erInìtiaJ.s: ß- . f) f \ll,{ýavtlNG-Snq ~ Panily-Pëmie MaeJFred:ie Mac LNFœv11 DocMagic ~BlXJ.ô49..1362 Form 3051 1/0r Page 9 of 14 WW\v.d:x:nagc.cxm 0:919958 000555 othernise. The notice address shall be the Property Address unless Borrov.er has designated a substitute notice address by notice to Lender. Borrov.er shall proJTfJtly notify Lender of:Borrov.er' s cl1ange of address. If Lender specifies a procedure for reporting Borrov.er' s change of address, then Borro\.\er shall only report a change of address through that specified procedure. There troy be only one designated notice address under this Security Instrurœnt at any one tiTre. Any notice to Lender shall be given by delivering it or by rmiling it by first clæs rmil to Lender's address stated herein unless Lender has designated another address by notice to Borrov.er. /w¡ notice in connection v.ith this Security Instrurœnt shall not be dærœd to have beœ given to Lender until actuallyreœived by Lender. If any notice required by tills Security Instrunmt is also required under Applicable Law, the Applicable Law requireIre1t v.ill satisfY the corresponding requirerrent under this Security 1.nstrum::nt. 16. Governing Law; Severability; Rules of Construction. This Security Instnurmt shall be governed by federal law and the law of the jurisdiction in \\hich the Property is located All rights and obligations contained in this Security Instnnrent are s~ect to any requirerrents and linitations of Applicable Law Applicable Law night e>qJlicitly or irrplicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreezœnt by contract. In the event that any provision or clause of this Security Instrtunnt or the Note conflictsvith Applìcable Lavv, such conflict shall not affect other provisions of this Security Instrurrent or the Note ~hich can be given effect vithout the conflicting provisìon. As used in this Security lnstrunHlt: (a) ooreis of the rmsculine gender shallmæn and include corresponding neuter v,oreis or v,ords of the feminine gender; (b) oords in the singular shall rœan and include the plural and vice versa; and (c) the oord "may" gives sole discretion vithout any obhgation to take any action. 17, BoI1'OweJ"s Copy. Ibrrov.er shall be given one copy of the Note and of this Security Instn.uænt. 18. Transfer of the Pl'Operty or a Beneficial Interest in Bon'OweI', As used in this &ction 18, IIInterest in the Property" J'l1æl1S any legal or beneficial interest in the Property, including, but not linited to, those beneficial interests transferred in a bond for deed, contract for deed, installrœnt sales contract or escrowagreerre.nt, the intent of\\hid1 is the transfer of title byfurro'\-\er at a future date to a purd1a<3er. If all or any part of the Property or any Interest in the Property is sold or transferred (or if&rrO\œf is not a natural person and a beneficial interest in furro\œf is sold or transferred) Vvithout Lender's prior written consent, Lender troy r~re iI1II1Xliate paym:nt in full of all su:rm secured by this Security Instrurœnt Hov.ever, this option shall not be exercised by Lendet if such exercise is prohibited by Applicable Law. . Iflender exercises this option, lender shall give Borrov.er notice of acceIeratiOll The notice shall provide a period of not less than 30 days ±rom the date the notice is given in accordance vith &ction 15 vi thin \\hich furrov.er I111l5t pay all sum:> secured by this Security lnstrurre1t. IfBorrov.er fails to pay these sum; prior to the expiration of this period, Lender may invoke any rerredies pemitted by this Security Instrurmlt vithout further notice or dêm1nd on Ibrro\œf. 19, Bon'Ower's Right to Reinstate After' AcœlemtÌon. IfBorrov.er rreets certain conditions, Borro\.\er shall have the right to have enforcerrmt of this Security Instrurœnt discontinued at any tiTre prior to the e3fliest of: (a) five days before sale of the Property pursuant to any pow::r of sale contained in this Security Instrurœnt; (b) such other period as Applicable Law might specify for the ternination of Borrov.er' s right to reinstate; or (c) entry of a judgm:nt enforcing this Security Instrurœnt Those conditions are that Borrov.er: (a) pays Lender all sums Wùch then oouI d be due under this Securi ty Instrurrmt and the Note a') if no acceleration had 0CClUTOO; (b) cures any default of any other covtmnts oragreemnts; (c ) pays all expenses incurred in enforcing this Security I:nstrum:nt, incl uding, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the pUfjX)Se of protecting Lender' s interest in the Property and rights under this Security In.stnurent; and (d) takes such action as Lender troy reasonably require to assure that Lender' s interest in the Property and rights under this Security Instrurœnt, and Borro\\eI' s obligation to pay the sums secured by this Security Instrurœnt, shall continue uncl1anged Lender may require that Borro\Wf pay such reinstaterrent sums and expenses in one or Irore of the folloving fofIl1), as selectedby Lender: (a) cash; (b) rroney order, (c) certified check bankchecl<, treasurer' s check or cashier' scheck, provided any suchcheck is draM upon aninstitutionv.hose deposits are insured by a federal agency. instrurœntality or entity; or ( d) Electroni c Funds Transfer. Upon reinstaterrent by Borrov.er, this Security Instn.uænt and obligations secured hereby shall remlÎn fully effectivèas if no acceleration hM 0CClUTed. Hov.ever, this right to reinstate 5i1al1 not apply in the caseofacœIeration der Section 18. IbrrO\\eT hùtiaJs: ~ .2 f Wfavtll\G-Snale Fanily-FcJ1nie MaelFfedde Mac LNFœv11 Foon 3051 1/01' . Page 100f 14 DocMagic~ .8tXJ.ô49-1362 WW\v.cbctrBgc.d:m j::::::::::~:;::::::i::,: i .¡ ! .I. .·i·~~;~ ¡Z]]~*~!.¡}:: 091.9958 C00556 20. Sale of Note; Change of Loan Selviœl; Notice of GJievanœ. The Note or a partial interest in the Note (together v.-1th this Security lnstrurr61t) can be sold one or rroretirres v.-1thoutpriornoticeto furrov.er. A sale night result in a change in the entity (knov-.n ae; the "Loan Servicer") that collects Periodic Payrœnts due meler the Note and this Security Instrurœnt and perfon11) other rrortgage loan servicing obligations under the Note, this Security In.strurœnt, and Applicable Law There also might be one or rrore changes of the Loan Seivicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, furrov.er ¥.ill be given NÏtten notice of the change v.hich v.-111 state the narre and address of the new Loan Servicer, the address to \\hich payrœnts should be xmde and any other informrtion RESP A requires in connection v.i th a notice of transfer of servicing If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than thepurchaser of the Note,. the rrortgage loan servicing obLigations to Porrov.er v.-111 re.rmin v.-1th theLœn Servicer or be transferred to a successor Loan Serviœ.r and are not assurred by the Note purchaser unless otherv.ise provided by the Note purchaser. Neither furrov.er nor Lender 1m)' cornrœnce, join, or be joined to any judicial action (ae; either an individual litigant or the rœrrDer of a class)that arises £Tom the other party's actions pursuant to this Security Instrurœnt or that alleges that the other party has breached any provision of, or any duty ov-.ed by reason of, this Security Instnurent, until such furrov.er or Lender has noti fi ed the other party (v-.Ùh soch noti ce given in coIq)liance v.iththe requirerœnts of Secti on 15) of such alleged breach and afforded the other party hereto a reasonabl e period after the giving of such notice to take corrective action. If Applicable Law provides a tirreperiod Wlich must elapse before certain action can be taken, that tirre period \Ail! be deem.:d to be reasonable for purposes of this paragraph The notice of acœleration andopporfunity to cure given to furrov..eI' pursuant to Section 22 and the notice of acœlerarion given to furrov-.:er pursuant to Section 18 shall be deem.:d to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Ha2'~rdous Substances. As used in this Section 21: (a) "Hazarcbus SuŒtances" are those substances defined a<) toxic or hazm-oous substances. pollutants, or wastes by E.nvironrn;ntal Law and the follov.ing substances: gasoline, kerosene, other f1arnrmble or toxic petroleum products, toxic pesticides and herbiciœs, volatile solvents, rmterials containing ae;bestos or forrrnldéhyde, .and radioactive rmterials; (b) "Environrmrtal Law' rœ:aæ federal lav-.-s and lav-.-s of thejurisdi ction v-.here the Property is located that relate to hælth, safety or envirol1Im1ta! protection; (c) IIEnvirorurental Clemup" includes any response action, rerœdial action,orrermval oction, ae; defined in Envirorurmtal La'N, arid (d)án "Environm.:ntal Condition" rreans a condition that can cause, contribute to, or otheIVvÌse trigger an EnvirOl1Im1tal Oeanúp. furrov-.ershall notcauseorpeiT1lit the presence, use, disposal, storage, or release of any Razaroous Substances. or threaten to release any Hamdous SubStances, onor in the Property. furrov-.:ershall not 00, nor allow anyone else to 00, anything affecting the Property (a) that i~ inviolarion of any E.nvir()[1IJß1ta! LaW; (b) \\hich creates· an Environm.:ntal. Condition, or (c) \\hid1, due to the presenœ, use, or release of a Hazro-cbus Substance, createS a COI1ditíon 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 srroll quantitíes of Ha21Iroous Substances that are generally recognized to be appropriate to norrrnl residential uses and to rrnintenance of the Property (including, but not limited to, hazaroous subsmnces in COIlSUIref prodllcts). furrov.ershall prmrptlygive la1der NÏtten notice of (a) any investigation, claim, denmd, lav-.suit or other action by any govemrrental or regu1atory agency or private party involving the Property and any Hazaroous Substance or EnvirorurentalLawof \\hich furrov.er has actual knomedge, (b) any Environrn;ntal Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Røu-oousSubstance, and (c) any condition amsed bythepresenœ, ~ or release of a Hazardous Substance W1ich adversely affects the value of the Property. Iffurrov.er learns, or isnotifi ed by any governrœntal or regulatory authori ty, or any pri vate party, that any rermval or otherrerœrliarion ofanyHazaroous Substance affecting the Property is necessary, Borro\\er shall prorrptly take all necessary rerœdìal· actiCX1S ìn ·accordance m th Envirol1Im1ta1 Law: Nothing herein shall create any obligation on Lender for an EnvironIreltal Oèanup. ffuova hri~: 'd~_ ~ r ~ WY'Qv1IN3-Snale Fanily-FcmieMæ'Fred:fe Mac LNFCRv1l ... ENT - MERS Fa'm 30511/01' Pãge 11 ()f 14 DocMagic ~ 8CXJ..649,.1362 ~cfx:rraçjc. ccm 091.9958 NON-UNIFORM COV~ANTS. Borrovær and Lender further covenant and agree as follow;: 22. Acceleration; RerÆdies. lender shall give notice to Bonmver prior to acœleration following Borrower's breach of any covenant or agreenmt in this Secwity Instrurrmt (but not prior to acceleration under Section 18 w1Iess Applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not Jess than 30 days from the date the notice is given to Bomm.'eJ', by \\'fÜch the default must be cured; and (d) that faiJw"e to cure the default on or before the date specified in the notice may result in acceleration of the SllIm secw'ed by tlûs Secw:ity Instrument and sale of the Property. The notice shall fW1he1"ÍJÛOJm Borrower oCthe right to reinstate after acœJeration and the right to bring a court action to assert the non-existence ora default or any other defense of Borrower to acceleration and sale. If the default is not cured on or befOJ"e the date specified in the notice, Lende.· at its option may require il11lœdiate payrrmt in full of all SUIŒ secured by. this Seauity Instnuœnt without fw1her demand and may invoke the power of sale and any other remedies permitted by Applicable law. Lender shall be entitled toeolled all expenses incurred in pursuing the remedies provided in this Secti on 22, including, but not limi ted to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, ifdifferent, in accordance with Applicable law. Lende1' shall give notice of the sale to Bon'Ower in the manneI' provided in Section 15. Lender shall publish the notice of sale, and the PJ'Operty shall be soJd in the manner pt"eSC1ibed by Applicable law. Lender or its designee may pw"Chase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, l"easonable attorneys' fees; (b) to all SUIŒ secured by this Secwity Instrument; and (c) any excess to the pe.rson or persons legally entitled to it 23. ReJæ.<;e.· U¡x>n paynmt of all sum; secured by this &nuity Instrrnrent, Lender shall release this &nuity Instrurrent. Borro~ shall pay any recordation costs. Lender rmy d1arge Borrov.er a fee for releasing this &nuity InstTUIIffit, but only if the fee is paid to a third party for services rEndered and the charging of the fæ is permitted under Applicable law 24. Waivers. Borro\\-er releases and waives all rights under and by virtue of the horrestead exerrption laW:ì of \\ýoming. C00557 - fuiJiak;JL fîl ~ p VWav1I~nde Fanily-Pcmie Maelffedcie Ivtac LNfŒIA I Form 3051 1/0r Page 12 Qf 14 DocMagic ~. B(X).ô49,.1362 www..OOctmtjc.can CI.¡ I '-;·!'¡~·-"¡·ìJ l:I';LI¡'¡~i'i~I""L;:\'! cilntl:¡mlHU81:1~ ~:m~::r:::l:::::;::~ ~~~:;~J:;;~ ~~~¡t~~im_1t~m~ffi . :¡~¡~~~mm~~i~~ii~ 0919958 I" B"I.T SIGNING BELOiW. 'D~ d h d . ed· thi Securi'· (1 r- 5 5 8 , I . .. . , DUrrov.er acœpts an agrees to t e terrrr:; an covenants contain In S ty Instrurrmtand in any Rìder executed by Borrov.er and recorded WID it. ~w~ LOUIS W. PACHIE . (Seal) .,Borrov.er -P~ p~ (Seal) PATRICIA PACHIE -Borrov.er ~)}~ GREGORY G. PAæIE (Seal) -Borrov.er U~&~fuJ~ (Seal) -Borrov.er (Seal) -B:>rrov.er Witness: Witness: 74?J 0 JJ'/<; Wr'CMll\G-Snde Farrily-Fannie I'AaeIFfedcie Mac LNFœv1INSTR.A'v1ENT - Mm3 Form30511/0r . Page 130f14 DocMagic ~ lJOO.ô49.1362 ~cixrrÐgc.can 091.99~8 C00559 State of \\ýoning ) )S5. ) County of LINCOLN The foregoing instrum:nt was ackno~edged before Ire by IDUIS W. PACHIE, PATRICIA PACHIE, GREGJRY G. PACHIE, LISA HOEMANN PACHIE this day of Witness ITo/ hand and official seal. p ~i U-7fJÚ A-l a:ttJL0 r¿¿e " f . . {kk.JJ.î t'-~,; "L t1~f.J {À (!)!-fl tJ1JJ - Ô Notary Public Print or Type NaIrn (~) :MJ comrissìon expires: VVYQv1ING-Snde Farrily-Fëmie Mæ'R"edde Mac LNFæv1INSTRJv1f3\IT - MOO Rx-m 3051 1/01' Page 14 of 14 DocMagic ~ ~9-1362 www.cbc.:tmgc.can ~~:::~:tt:: :~::::~:;: ;: ii!I'.+.im~::~J 091.9958 CALIFORNIA ALL·PURPOSE ACKNOWLEDGMENT (OC560 I~~~ ~, State of California I County ot;:1~ ~ ~'i }" . ~ of satisfactory I I a·· R,HOSI(N COmm tIuIon tÞ 1595150 NoIary P\öc - CaItomIa ~ Lake CCUIty . .., Conwn. ExpIreI JIA 11, to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. . ) Signature at Notary Public OPTIONAL Though the information beloW is not required by law. it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Tille or Type of Doc~ment: 17]ð7-1Jr~ Document Date:Q~' ;:2L, ~()~ I Number of Pages: / L/ ~ . Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: ~vidual o Corporate Officer - Tille(s): o Partner - 0 Limited 0 General o Attorney-in-Fact o Trustee o Guardian or Conservator o Other: , Top of thumb here ~ ^' ~~'@i.^' ^-~ @1999 National Notary Association· 9350 De Solo Ave., P.O. Box 2402· Chatsworth, CA 91313·2402· www.NationaINotary.orgProd.No. 5907 Reorder: CaU TaU-Free 1-800-876-6827 09í9.958 ! . 000561 EXJllEIT )fA'· , The. land referíðd tc in this commitment is situated !n th.~ S1flte of WYDming, County of Lincoln, and iš described as foHows:' . , A portion of ~he SR~$W~ of section 34, 136N Rll~W of the 6th P.M.. Lincoln COuntYI ¡.¡yoming I b~ing more part.icularl~{ desc:dbed as follows: Beginning at: '!:hsNorthea.$t. corner of the S\<1USH~ of said Section 3'1 and running thenc~·S 0°54155" '11, along' tbe: East: line of sa.id SW7{SH?{, 682.0~ fee!:; - thence S 89°54'5311 ~, 177.52 feet; . th~nce rr 9 D48..'·30.". HI ,43.7'2 ·fee.'!:; thence N 89°4311]~t W, 72.22 feet; thence N 12 °4~J 311': \'1 ( . 655..26 feet: to a point .i.n,. the Nor:th line of said SH}{SW;;< i .' , . t::h:'encE: S B9°S0'03U gl .al.ong laSl~ g~id North linel' '.!o06.71. reet to the point· of bèginn~ng. . . .' ALSO . A port:ion.of the;D~ed :r;eferred to and recordêd in Book 422PR on page 504 an.d ' the :properr:y refarred co ,'and recorded in Book 4461?R On page:· 95,. ,,¡iehin c:he: S7.íSWy. of sect.ion 341. T36N.R119W of che 6th 1?_11., Lincoln counr.y Hyoming, t:{le.' meC.e5 and ':bounds bei'ng möre.particularl)' described as follovJs: BEGINNXNG at the )3.. L. M. .c:ype Monument marking the Marlo~le :P. _Scherbel PLS 53681 1994 locatio~ for the SoutheaSt Corner of t:he 9W~S~){ of sa.id. Section 34; t:.hence N 89Q04'2711 w; ~long the South line of said S¡'PhSHX; 465.00feec.: thence N 2Q2113111 W( 528.73 fèet¡ thence N 71"2~' 551\ W, B56.99 feer. to a point in thE: ~..:zest line of said . . . . S¡;.pÁS~T1/.; . r.he.ncb!.N 2°14'57" E, along said Heat line., 535.18 feet r.o t.he·B.L:M. type Monument marking' tbé. Scot:.t À. Scherbel PLS 38"89, 1.990 locat.ion for the Northwest ·Corn~r of said SH?{SHYt¡ chance S 6eD54/35.<I EI along r:he. Norc::h line of said 'SWUSH~L, 914.96 feet¡· chance S 11°53'4011 EI E;55.22 ieee¡ th~nce S 88°27'2~« B, 72.22 feet; thence ~ 0007~15" WI '3.12 feet; chence S B.9°09'2P E118B.44 felS.t :'0 a point in t:.h~ C~nteX' Line of the Roberts - wolf.ley.Co1IDt:y Road :t.Z-:!.05i Right:.-of-Way; t.h~nce Southea.ste:rJ,y, along' said Center Llnè, t;~e £ollowing: Southeasterly, a.long a2Q58. 00 foot R.adiuS!, CurvE:.:to ,the Lef\: through a' cent:.ral.angle·'of-SQ13153",ç¡,n arc distance of 187..90 feat; thë;r¡ce'S 8°43'50" EI :320.18 feet; . . r.henee SoutÌl2al3terly, al011g a· 6~Q.DQ £001: Ra.dìu$ Curve·'to thE:> ·Left¡ through a'èent:.ral angle of 1;2Q46'1.3", an a~c distance of 140.78 .feet to a point in the: South. 1 inæ of said S~S!,1;Ú , . chance N B9QÒ4'27I\'~J( a·long said·South Line, :1.3'6.15 feet co the Poiñt of . Beginning. . .( it '/ -"'-- ,.....--:-:.~ ,:,... InitialsL.. . InitialS¥-, h"\itíal~~~ ~~ .v';·i.:\....·.:j:¡·'Ì.K~¡':;." ~j·;'j·.¡';'i .".'·'n.~ ~:::~:~::i~~;~i~:is]