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Home My WebLink About920842 l~ Return To: 000499 New CerituryMortgageCorpoi'cttron 18400 Von Karman. Ste 1000 Irvine. CA 92612 Prepared By: New Century Mortgage Côrpórâtlon 18400 Von Karman. Ste 1000 Irvine. CA 92612 (Spa~I;ÁbOVI; 'fhisIJnt:JiorR.eçordii1g ])\ltaJ MOR.TGAGE DEFINITIONS RECEIVED 8/1/2006 at 4:39 PM RECEIVING # 920842 BOOK: 628 PAGE: 499 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ,--,._.__.--~- --. ----.- -- --- -- ---. Words used inmultiplesectiøtts øfthis dO¢l.\IDentare defined beloW and. other words are defined in Sections 3. 11, 13, J8, 20 and 21. Certain rules regarding the usage of words used in this document are also providèd in Section 16. (A) "Seêurity Instrumcnt" means this document, which is dåted JulY 26 , 2006 together wifu·all Riders to this doêui11ent. CD) "Borrower" is KEVltfA$TLE ªndJENNIFERASTLE. Husband and Wi fe.' As Tenants by the ¡,~fYr/é/ï.ÞEntiretÌ'es J=.A. 4...#.-· Borrower Is the mortgagor under this $è(:urltyInstrument·. (C) "Lender" is New Century Mortgage Corpor.atióri Lender isa Corporat ion o1"gánized and existing. under thelaWsofêt1nfôrni~ 10091 Ogo ()2 WYOMING-Single Fllmily-Fllnnle MaelFreddie1Vlilc ÜNIFÓ~I'.1IN~r~I)MENT O<»-6IWY) (0005);01 Page 1 0115 Inltla\.s: k.4- VMP MORTGAGE FORMS - (8001521·7291 Form 3051 1/01 ."", 0920842 (' 00500 Lendet's address is 18400 V(>il Karman, Suite .1000, Irvi ne, CA92612 Lenper is the mortgagee un4¢r tl)Ï$ Security Y1l,$trul11e!lt. 0:» "Note" means the promissory note signed by Borrower and dated J u 1 y 26. 2006 The Note states that Borrower oWes Lender ONE HUNDRED THIRTY - FOUR THOUSAND THREE HUNDRED AND 00/100 Dollars (U.S. $134,300.00. ) ph.is ìntereSt. Borrower has promised to pay ihisdebt in regular Periodic Payments and to pay the ðebt in fuJi not later than 09/ p1 i 2 0 ~ 6 (Ê:) ''Property'' means the property that is described below under the heading "Transfer of Rights In the Property. · . . (F) 'iLoan" means the debtevidenceð by the Note, plus Interest,ariy préparment charges and (ate charges due under the Note, and all sums due undertbis Security Insttument, plus interest. (G) hRiders" means all Riders to this Securitylnsîrlin'Íént that are executed by norrower. The fol1owing Riders are to be executed by Borrôwer [check box as applicable]: [iJ Adjustable Rate Rider 0 (;ondominjum RI4er . 0 $econd Home RIder o Balloon Rider 0 Planned QnitDevelopment Rider D 1-4 Family Rider OVA Rider D Biweekly Payment Rider [iJ Othet(s) [Specify] Prepayment' Rider (H) "Applicable Law" means allcontrol1ingapplîcable federal, state and loc¡il statut~s, reg1.ilatioDS, ordinances and adrninistraiive..rules and orders (that have the effect of law) as well as ¡ill applic¡¡ble fmal, non-appealablejud1ci¡¡1 OpìniODS. (I) "Community Assoçiat/on Dues,Fees, and Ass~entsi' means ¡ill dues, fees. assessments and othet charges that are imposed (In lJqrrower Qt the Property bya condplI1lriium association. homeowners association or similar organization. (J)"E1~tronic Funds Transfer" means any transfer of funds~ other thån a transaction originated by check. draft. or similar paper instrument; which is initiated through an electronic tennJnal, telephonic instnnnent, computer, or magnetic tape so as to order. instruct, or authorize a (inancial institution to debit or credit an accoUnt. Such ienn includes, but is. n(lt linlited to, point-of-saJe transfers, automated teller machine transactions, transfers ìnitiated by telephone, wire transfers, and automated clearinghouse ttamifers; (K) "Escrow Items" means those Hems that are described ìn Section 3. (L) "Miscellaneous Proeeeds" meanS any êomþenSàt1oIi, settlement, awardofdàmages, Or proceeds paid by any third party (otherthanìnsuTancepTOceedspaid under the coverägesdescribed in Section 5) for: (I) damage to, or destruction of, the Property; (ii) condemnation orotherµddng of all or any part of the Property; (iii) conveyani:e in lieu of condemnation; or (iv) misrepresentations of, or .omissions as to, the value arid/or condition of the Propèrty; (M) "Mortgage Insurance" means insurance protecting tender against the nonpayment of, or default Oil, the Loan. (N) "Periodie Payment" means the regularly scheduled amount due for (i) principal and· interest under îhe Note, plus (ii) any amounts under Section 3 of this Security Instrúrilelli. (0) "RESPAi' means the Real Estate Settlement Procedures Act (12 U:S.C. Séétion 2601 el seq.) and its impJemeótin¡:regulation, Regulation X (24 C.F.R;Pari 3500), as îhey mig~t .be amended from time to time, or any addition'al or successor legislation ot regu1aîion that govemsthe same suhject maUer. As used in this Security rristrument, "RESPA" refers t() all requitements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qua!ìt'yas a "federaJly related mortgage loan" under RESPA. O...-6/WY) 100051;01 Pig.2'¢'fS bÛ".I".kz1.-Ifr.t. 1 0 0 91 0 8 0 0 2 'U. Form 3051 1/01 0920842 cor501 (P) "Successo.r in Interest ofßorrower" means any party tlt¡it ha,s taken title to tlte Property, whether or not that party ha& a&sumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RTGfITSINTHE PROPERTY This Security Instrument seClIresto Lender: (i) the repayment of tlte Loan, and all renewals, extensions and modifications of the Note;. and(ii) the perfo(mance of Borrower'.s covl:ßants and agreements under this Security Instrument and the Note. For this purpose, Borrower doesbereby mortgage, grailtand convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the County of Li nco 1n [Type ofR!;Cordlng lurisdlction) (Name of Recording jurisdiction] See legal Description Attached Hëretoðrid Hade a Part Hereof ParcellD Number: 34182920017500 3228 COUNTY RD 122 Bedford ("Property Addiess"): which currently has the addiess of [Streel) [City] , Wyoming 83112 [Zip Codel TOGETHER WITH all the hnprovements now or hereafter erected olithe property, and all easements, appurte¡¡ances, and fixtures now or hereafter à pårt of the property. All replàcements and additions shall also be covered by this Security Instrument. All of the foregoing is referred (() in ihis Security Instrument as the ·Property." BORROWER COVENANTS that :gotTo~er is l¡¡wrully sei$Cd of the. eState hereby conveyed and has the right to mortgage, grant and convey ihe Property and that the Property is unencumbered, except for enCumbrances of record, Borrowerwarrant$ and wUl defend generally the title to the Property against all claims and demands, subject to linyencumbranCeS ofrecord. TillS SECURITY INSTRUMENT combines uniform covenartts for national use andnon-unifonn cOvenants with litnitedvariations by jurisdiction to eonstiìute a uni(oÌlhsecurÍly instrument covering real prOperty. UNIFORM COVENANTS. Bdrrower and Lender Cóvenant and agree a&follows: 1. Payment of Principal, Interest, Escrow Items, PrepaYment Charges, and Late Charges. Borrower shall pay when due the principal 1Ji, and interest on, the debt evidenced by the Note and any prepayment charges and late çharges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. PaYmeqts due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this 1009108002 li\itl.ls: K...A- IlL1 .. O;6IWY) 100051.01 P,g.30f15 ~'- Form 3051 1101 ----- 0920842 COC502 Security. Instrument is returned to Lender unpaid, . Lender màyrequire that any or;¡.ll subseqllent payments due1lnder . the. Note· and this Security Instrument be made. in one. or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) .cerWied check, bank: cbeck, treasurer's check or cashier's cheèk,prov¡d~d anysuéh check is drawn upon an instilutionwhose deposits are insured by a federal a¡¡ency, instfl.llJ1entality, or entity; or (d) EI~t¡:ol1ic Funds Transfer. Payments ¡\redeemed received by LeI1der when received at the location designated in the Note or at such other loc¡¡tion as may be designated by Lender in accordance with the notice provisions in Section IS. Lender may return anypaymerit Or partial payment if the payment or partial paYments are insufficient to brill¡¡ the Loan current. Lender may accept aiJy paymel1t or partial paYment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudi~ to its rights to re{¡¡se such payment or partial payments in the future, but Lender is not obligated to apply such payments at tile time such payments are accepted. If .each Periodic Payment is applied as of .its sCheduled due date, tIIen Lender need not pay interest on unapplieðfun(l.s. Lender may hold such unapplied funds until Borrower makes payment to bring the LoaiJ current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Bórrower. If not applied earlier, such funds wiII be applied to the outstanding principal balance under the NOte immediately prior toforedosure. NO offset or cl;¡.lm which Borrower DÚght have now or in the future against Lender shall relieve Borrower from making payments due µnder the Note aiJd this Security lilstr1.ll11cnt or pèirornúlig the covenants and agreements secure(l by this Security Instrument, 2_ Appli~tion of Payments or Proceeds. Eltcept as otherwise deSçrìbed in this Section 2, all payments accepted. and applied by L\:nder shall be applied· in the following order of priority: (¡¡)interest due under lheNote; (b) principal dueuilderthe Note; (c)amourits due under Section 3. Such payments shall be applied to each Periodic Payment in. the order in which it became due. Any remaining amounts sh¡tl] be applied first to late charges" second to any other amounts due under this Seçurity Instrument, and then to reduce the prinCipal bäJance of the Note, If Lender receives .;¡ payment from Borrpwer for a delinquelltP\:riodicP¡¡yment which inc:ludesa suffièient amounllO páyany late charge due, the payment ¡nay be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repaýment of the Perio.dic p¡¡yments If, and to the extent that, each payment can be paid in full. To the eXtent that any excess ex.ists afterthepaYl11ent is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntaryprep;¡yments shall be applied first to aiJy prC'paYl11entcharges and then as cleséribed in the Noie... . . . Any application of payments, insuf:¡¡¡:¡ce proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend orposípòµe the due date, or change the ;unO\1I1t, of thePeiiodic Payments. 3. F'undsfor.JIscrow Items, .110rrower shall pay to Lellder 011 the day Periodic Payments are due under the Note, \lntÜ 4te Note is paid infuÌl, a sum (the "F\lnds") to provide for payment of amounts due for: (a) taxes and assessments and other items which eanattain priority over this Security Instrument as a lien or encumbrance .on the Property; (I» leasehold payments òrground rents on the Property, if aiJy; (c) preJ1iiums for any and all insurance required by I.ei1der under Section 5; and (d) Mortgage Insurance premiums, i{any, or any sums p;¡yable by Borrower to Lender in Heuof the payment of Mortgage Insurance premiums in I\ccordanCe with the provisions of ~ctipnl0. 11\(~se items are called "Esérow Items." At orìginaiion or at any dme during the term of the Loan, Lender may require that Community Associalion [)u~. Pees, and Ass~~nts, if any. be escrowed . by Borrower,aild such dues, feés and assessmenis sh;¡.lJ bean Esçrow Item. narrower shall promptly furnish to Lender all notices of amounts to be p¡¡id under this Section. Borrower shan pay Lender the FllÌ\ds for EscroW Iteins unless Lender waives Borrower's obligation to pay the Funds for any' or all Escrow lterl1s. Lender may waive Borrower's obligation to pay to LenderFúnds for any 'or all Escrow Items at aily tiIne. Any sUCh waiver may only be in writing. In the event of such waiver, Borrower shall pay direcily, when and where payable, tile amounts G :6tWYIIOOÒ5J.OI C!> P¡'ge. of 15 M¥ l00910a002 Initial.: . .. For", 3051 1101 ~i~~ili~J 09208~2 C00503 due for any E~crQW Items for whicbpaymel!t of ~ndshas been waive(l by Lender and,if Lender requires, shall furnish wLe1uler receipts evideIjcingsuch payment within such time period as Lender may require. Borrower'~ obliglltionlo make ~cb payments and to provide receipt~ ~hall for allpurposesbe deemed to be a covenant and agreement contained in this Security Instrument, as the phrase ·covenant and agreel11ent" is used in Section 9. If Borrower is obligated io þay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay theanlOuntdue forM Escrow Jtel11' LendeqIlay ex~rcise .its rights under Section 9 and pay such amount and Borrower shall then be obligate4 under Section 9 to repay to Lender any such amount, LendermllY revoke the waiver as to any or all Escrow Items. at any time bý Ii notice given in açcordance wiih SeC\Íon i.5 am, upon suc¡ revocation, Borrower shall PllY to Lender all Funds, and in such amoUnts, that are Îhen required under this Section 3. . . Lender may,at my time, collect and hold Funds in àn amount (a) sufficíentto pennitLender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maXimum amount II lender can require under RESPA.Lender shall estimate the ait10unt of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or oiherwise in accord.ance with Appliçable Law. The . Funds shl!1l beheld in an institUtion whose deposits are insured by a federal agency, instrumentality, or entity (including Lender ,irLender is an institution whose deposits are so insured) or in any Federal Home Loan Ban]ç. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge BOrrower for holding and applying the Funds,annually analyzing the escrow account,. or verifying the Escrow Items, unless Lender pays Borrower inter~t on the Funds and Applicable Làw pennits Lender to make such a çharge. Unless an agreement is made in writing or Applicable Law requires interest to be paid On the Funds, Lender shall npt be required to pay Borrpwer any interest or eamiµgs onihe Fun4s. Borrower and Lender can agree in writing, however, that interest shall be paid pn tl1e funds. Lender shall give to BOrrower, without charge, an annual accounting of the Funds as required byRBSPA. If there is a surplus ofF\1Ìlds held in escrow, as defined under RESPA, Lender shall acco\1Ìlt to Borrower for the excess funds in åccordance with RESPA. If there Is a shortage of Funds held In escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender ihe ainouritnecessary to make up the shortage in accprd8llce with RE5PA, but in no more than 12 monthly payments. Ifthere is a deficiency of ~nds held in eScrow, !IS defined under RESPA, Lender shall notify B()rrpwer as required by RESPA,and Borrower shall pay to~nder the ¡unount necessary to make up ihe deficiency in accordance\Vith RESPA, but in no more ihan 12 monthly payments. Upon paymenUn full of all sums secured bý this Security Instrument, Lender shall promptly refund to Borrower arty Funds held býLender. 4_ Chargesjl.,iens; Borrower shall pay all taxes, assessments, charges. fines, and impositions attributable to the Property whicÎ1.can att.ainpriority Over llIis Security Instrument, leasehold payments or ground repts on the Property, if any, and Community Association Dues, Fees, and AS5~sments, if any. To the extent. (hat these lteJrts are Escröw Items, BOrrower slWl pay them in the .martner provided in Section 3. Borrower shallprompdy discharge¡¡ny lien which has priprityover this Security Instrument unless Borrower: (a) agrees in writing to the payment of theoblìgation secured by the lien in a manner acceptable to Lender, but only so long lIS Borrower Is performing such ligteêment; (b) contests the lieh in good faith by, or defends against. enforeement of the lien in, legal proceedings which in Lellder' s. opinion operate to prevent the enforcement of the lien while. those proceedings are pending, but only until such proceedings are concluded; or{c)securès frolIl the holder pi the lien an agreement slltisfactory to Lender subordinating the 1ìen to ihis Security InSl(umeAL If Lender detennines that any P8Tt of the Pr()perty is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying tlie G -6IWY) 100051.01 II> ·pi.ai 15 an I Inhlol.Y.A /11. 1009108002 ~ Form 3051 1/()1 , --- 09208~2 COC504 Hen. Wi!Í1in 10 days of the date on whIch that notice is given, Borrower shall satisfy the lien Or tåke· one or more ofihe actions setfòrthäbove.in this Section 4. Lender may require Borrower to pay a one-time Charge/ot a real estate tax verification and/or rèporting service usëd by Len¡ler inconn(!Ction with this Loan. .. 5. Property Insùr~nce. Borrower shall keep the>Ù11provemen~ now existing or hereafter erected on the Property insured ag¡¡inst loss by fire, haza¡-dsincluded within thetenn "exten¡led coverage," and any other hazards inclu¡ling, hut not limitçd to, earthquakes and floods, for which Lendenequires insurance. This insurance shall be maÎntained ill the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences Can change during the tenn of the Loan. The insurance carrier providing the ins~rance shall be chosen by Borrower subject tq Lender's right to disapprove Borrower's chplce, which rlghtsball not be exercised unreasonably. Lender may require Borrower to pay, in connectioll with this Loan, either: (a> lone-time charge for flood zone detemUnation, certltication and. tracking services; or (b) ¡¡ one-time charge f(lr flood zpne detenIÚnation and certification services and subsequent charges each time remappings or similar charigesoccur which reasonably might, affect sucb detenIÚnation or certification. Borrower shall also be responsible for the pa}'ll1ent . of any feës·· imposed. by the Pederál El1lergency Management. Agency in connection with the review of any flood zone detennination resulting from an objection by Borrower. If Borrower fails to mahÙainany of th¢ coverages described above. Lender may obtain insurance coverage, at Lender's option àndBprrower's expense. Lender is tµ1der no obHgation to purchase any particular type or amount of coverage. Tberefore, such coverage sþall cover Lender, but might or might not protect Borrower, Borrower's equity in the Propett}' , or the contents of the Property, against any risk. hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges .that the cost of the insUraricecoverage sò obtained mightsignificaritly exceed the cost of insurance that Borrower could hàve obtàined. Aliy amounts disbursed by Lender under tlùs Section 5 shall become additional debt ofBorrowersecuredby this Security Instrument. These amounts sha1Ì bear Interest at the Note rate from the date of disbursétnént and shan be payable, with such interest, upon notice from Lender to Borrowerfequesting payment. All Însurance policies required by Lender and renewals of such wllcies shall be subject. to Lender's right to disapprove such policies, shall include .1 standard mortgage clause, and shall name Lender as mortgagee an(tlor as an additiol\aI Ipss payee. Lender shall have the right to hold the policies arid renewal certificates,. If Lem!er requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices, If Bo.rrowerobtains anyfonn of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or liS 'an additional loss payee. In the event of IQss, Borrower shall give prompt no~ice tq the insurance carrier and tender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writÎng, any insurance Proceeds, wl¡ether or not the underlying Insurance was required by Lender, shall \Jeapplied to restoration or repair Of the Property. if the restoration or. repair is economically . feasible and Lel\der's security is not lessened, During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lenderhas had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undenáken promptly. Lender may disburse prOceeds for the repajrs and restoration in a single pay¡nent or in II series of progress payments as the work Is completed. Urilessanagreement is made in writing or Applicable Law requires interest to bepajd on such insurance proceeds. Lender shall not be required to pay Borrower any il\terestor eamings on suç)¡proceeds. Fees for public adjùsters,or other third parties, retained by Borrower sltall not.be paldQ\it. of the msurarice prOCeeds arid shall be the sole obligation of Borrower. If the restoration or repair is not econonùca11y feasible or Lender's seCurity would be lessened, the insurance proceeds shall beapplfed to the sums secured by this Security Instrittnent, whether of not then due. with C '6(WY) d06~I.O' t> Pogo·8 0/.8 nJ'ia5:~ 1009108002 Form 3051 1/01 0920842 ;~r51ì5 the excess, if any, paid to Bon-ower_ Such insurance procee¡is shaH be appHed in the order provided for in Section 2. If Borrower abandQns the;: Property. Lender may file, negotiate and settle any available insurance 'claim and related inatters. If Borrower does not respolld within 30 days to a notice from Lender that the insurance ca.rrler has offered to settle a claim. then Lender may negotiate and settle the claim. The 3D-day period will begin when the lIotice is given. In either event. Or if Lender acquires the Property under SectiOn 22 or otherwise, Borrower hen~òy assigns to Lender (II)Borrower's rights to any insurance proceeds, in an amount not to exceed the amoun~unpald under tþe Note.Qr this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned prel1Ùums paid by Borrower) under all insurance policies covering the Property. insofar as such rights are applicable to the coverage of the Propérty. Lender may use the insutance proceeds either to repair or restore the Property or to pay amounts unpaid underthe Note or this SeC\lrlty Instrument. w1ìether or not then due. 6. ,Occupancy. Borrower shall occuPY" establish, and use the Property as Borrower's principal residence within 60 days after the execution of ,this Security Instrument and shan continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, whicp consent shali not be unreasonably withheld, or unless extenuating circumstancçs exist which are beyond BIJrrower's control. 7. Preservation, Maintenance and Prptection of the Property; InspectioÍ1S. Borrower shall not destroy. damage or impair the Propçrty. allow thç Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property. Borrower shall maintain the Property in order to prevent the Property fromdcteriorating or decreasing in value due to its condition. Unless it is detem'1Îned pursuant to SectionS that repair or restor~tion is n.ot econ.omically feasible. Borrower shall promptly repair' the Property if damaged to avoid further dçteriIJration or damage. If insurance or coQdemnation prQcçedsarepaid in connçcÎion with damage tP. or the laking of. the Property, Borrower shali be, rC1iponslble Jor repairing Or restoring the Property only if Lender has released proceeds for such purposeii. Lender may disburse proceeds for the repairs arid restoration in a single payment or In a series of progress payments as the work is completed. If the insurance' or Condeml1atiòn proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restorationó Lender or itsagerit may make reasonable entriC1i upon and inspections of the Property. !fit has reasonable cause, Lender mayiI¡spect the interior of the ImprovementsQJ1the Property. Lendçr shall give Borrower notice at the time of or priQr to' su.ch an interior, inspection specifying such reasonable cause. 8. BOITower'sLoan Application. Borrower shall be in default if. during the Loan applièation process. Borrower or any þ'ersonsor entities acting, at the direction of Borrower or with Borrower's knowledge or consent gave materially false" I1Ùsleading, or inaccurate infonnatlon or statements to Lender (or failed, to provide Lender with material information) in conn.ecÎion with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower'spdnci¡:>aI residence. 9. Protection of Lçnder's Iµterest in the Property ~nd R,ights Under, this Security Instrument. If (II) Borrower fails to pçrfønn the covenants and agreements contained in this Security Instrument. (b) there is a legal, proceeding that might significantl)'affect Lender's interest in the property, and/or rights Ili1der this Security Instrument (such as a proceeding in baiJkrüptcy ,probate, for condemnation. or forfeiture. for enforcement of a lien whiêh II1ày attain priority over this Security Instrument Or to enforce laws or regulations), or (c) Borrower has abandoned the Property. then Lender may do and Pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights u,nder this Security Instrument, including protectingand/or assçssing the value of the Property. and s¡;curing and/or repairing the Property. Lender's actions can include. but are not limited to: (a) paying any sums sçcured by a lien which has prioritY over this Security Instrument; (b) appearing in court; and (c) paying reasonable G -6IwYI'IOOOBI;Cf! . Plgo" of 11 1009108002 101.1010: ~ A . 11£l, ------u - Form 3051 1/01 / 0920842 r('\)r¡~n6 I" I. l; v ~ attorneys' fees to protect itsintetesl in thePropertyan~/or rights ¡¡nder this Security Înstrument, including its secured position ih a bähkruptcy proceeding~Sècuringthe Prop~rty includes, but bnot lil1Úted tQ, entering the Property to make repairs, change locks~ replace or board up doors and windows, draIn water from pipes, elil1Únate buildin¡¡ or other code violations' Or dan¡¡erous conditions, and have utilities turned on or off. AlthouSb Lender may .take a<idon under thisSecdon ~, Len4~r dqes not have to do so and is not under any duly or obligation to do so. IUs agreed 14at Lender in.curs nO liability for not taking any or all actions authoriZed under this Section 9, Any amounts disbursed by Lenderunáer this Section 9 shall become additional debt of Borrower secured by this Security {nstrument. These amounts shall bear interest at tbe Note rate from the date of disbursement and shall bÞ payable,. with such. interest, upon notice from Len4er to Borrower requesting payment. If this Security Instnm\ent is on a leaséhold, BOrrower shall comply with all the provisions of the le8$e.lf Borrower acquires fee title to the Propèrty, the leasehold and the fee title shall not merge unless Lender agrees t9.the merger in writing. . . 10. Mortgag~ l.Q,Sul"¡¡nce. If Lender required Mortgage !nsuranCe as a condition of making the Loan, Borrower shall pay the premiums required to maintain th.e Mortgage Insurançe in effect. If, for any reason, the Mortgage Insurance coverage required by Lènderceases to be available from the mortg~gc: insurer that previously provided such Insur.ance and Borrower was required to makeseparateIy designated payments towar4 the .¡¡remiums for Mortgage Insurance, Borrower shall pay tbepremiums required to obtain coverage substantially equivalent to the. Mortgage InsurllDcepreviously in effect, at a cost substantially equivalent to the Cùst to Borrower of the Monçage Insurance previously in effect, from an.aItemate mortgage iMurer selected by Lender. If substantially equivalent MQ1'tgage Insurance coverage is not available, BprroW~ shall continue to pay to Lender the amount. of th.e separately designated payments that were due wben14e ins\Jl1Ißce coverage c~ased to· be ÌI} effect. Lender will accept, use and retain these payments as a nón.relUndable loss re,serve in lieu <of Mortgage IIl&uranCe- Such Joss reserve shall be non-refundable, notwithstanding the. fact that the Loan is ultimately paid in ,lUll" and ,Lender shall not be reqQired to pay BOtrQWer any inter~st or earnings on such loss reserve. Lender can no long~r require loss r~serve payments if Mortgag~ lnsuranèe.coverage (in th.earnount, an!! for the period that Lender requires) provided by an, insurer selected by Lender againbecoffiCS available, is obtained, . and Lender requires separately designated payments toward the premiums for Mortgage Insµrance. If Lender required Mortgage Insurânce as a condition of making the Loan and Borrower was required to make separately designated payments IOward Ute premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect" or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in ~rdance with any wñuenagreeme!!t between BQrrower and Lender providing for such tetÌ11inatlon or uniil termination is required by AppHcable Law. Nothing in this Section. 10 affects Borrpwer'S obli$åtion to pay interest at the rate provided in the Note. Mortgage InsurancereimbQrses Lender (or any entity that, purchases the Note) fòr certain losses it may incur if· Borrower does not repay the 'Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mor(gage insurèrs evalUate their tqtal risk 01l~1 such in~urance in forcefrqm time to iime, and may enter intQagreements with other parties that share Qrtnodifytheir risk, or reduce 10sses. These agreements are on terms :md conditions, that are satisfactory tothcIII0rtgageinsurer and the other party (or pariies) to these agreements. These agreèments may require the nicirtgage insurerto IIIake payments using any sOQrce of funds that the mortgage insùrer may bave available (whiCh may include funds obtained fiom Mortgage InsuranceptcJ))iurns), ' As a result of theseagreements,Lender, any purchaser of the Note, anotherinsurer,any reinsurer, any other entity, or anyaffi1inte (If any of the fòregoing, may receive (directly or indirectly) amounts that deiive from (or might be c~cterizedas)a portion of Borrower's payments for Mortgage Insurance, in exchahge for sharing or modifying the mortgageinsurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share 'If the insQrer's ris!t in exchange for a share of the premiums paid to the-insurer, the arrangement is often tcnned "captive remsurance." Further: (a) Any such agreements, will not affèct tbe amounts that Borrower bas agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not hîcrcase 'the amount Borrower will owe for Mortgage Insurance, and tbey \vllI not entitle Borrower to any refund. 1009108002 1n¡liòli:~ 'FormJ061 1/01 G -8IWY! 100051.01 iÞ Pogo 8 Òrl& ¡':::¡::::::i:¡:~::f.::: ~.~.!.:.:.~.!,f,,,,.,:., 0920842 .....(')r ;' :,~n7 . \.", V t (b) Any sU4:h agrêements will 110t affeet the ri~hts Borrower has - if any - with r~peet to the Mortgl1ge Insuranc~ under the Homeòwners, Protection Act of 1998 or IIny other law. These rights may include the right to receive certain dis4:losurcs,to request and obtain C1Inc,ellation of the Mortgage Insurançe, to have the Mortgage Insurançe terminated automatically, and/or to, receive a refund of any Mortgage Insuran4:e premiums that were unearned at the time of such C1Illcellation or termination. " ", " ' , ' " ,,' 11. Assignment of Mì~ceUaneous Pro4:eeds; Forfeiture. All Miscellanecus Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellartebus Proceeds ,shall be a.pplied to restbration or repair of the Propeny, if the restoration or repair Is econonúcally fea$ible .aI¡d Lender's seçurity is not, lessened. During such repairartd restoration period, Lender shall have the right to holdsucþ MisceUa¡¡eous Pr()ceeds until Lender has had art ()pportunity to inspect such Property to ens\lrethe work has been completed to Lender's satisfaction, provided that such inspection shaH be undertaken promptly. Lender may pay for the repairs and restoration in 'a single d,isbursel11ent or in¡¡ series of prbgress payments as the work is completed. Unless art agreement ¡smade in writing 1,)1' ApplicableLawrequires interest to be paid on such Mi~cellaneous Proceeds" {.,ender sbaU not be required to payporrower anY interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is riot economically feasible or Lender's secl/rìty wOl/1d be lessened, the Miscellaneous Proceeds sball be applied to the sums secl/red by this Security Instrument, whether or not thell due, with the excess, if any. paid to ßorrower. Such Miscellaneous Proceeds shall be applied in the orper provided fpr in Section 2, In the event of a total taking, destruction, or loss In value of the Property, the Miscellaneol/s Proceeds shall be applied to the sums secl/red by this Security Inshument, whether or not then due, with the excess, if any, paid to Borrower. , , ' , " In the event ofa partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destructioD, or loss in value Is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial ta\cing, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the . amount of the Miscel1aneol/s Proceeds mUltiplied by thefol1pwing fraction: (a) the total amountof thesul11s secured immediately before the partial taking, destt1)cti0Il' or Iqss in value divided by (b) the fairIIUlrke\value of the Property immediately before the p¡¡rtiál t*ing, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss iD value of the Property in which the fair market value of the Property immediately before th'epartial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in~riting,the ¥iscellaneo1,iS Proceeds shall be applied to the sums secured by, this Secl/rity Instrument whether or not the sumS are theD due. If the Property is abandoned by Borrower, Or if, after notice by Lender to BOrrower that the Opposing Party (~ defined ill the ne)!.t selltence) offers to make an award to settle a claim for damages, Borrower fails 10 respolld to Lender within 30 days after the date tþ.e notice is given, Lender is authorized to coilect and apply the Miscellaneous Proceeds either to restoratlpn or r~pair, of the Property or to the $umssecured by this Security Instrument, whether or not then dl/e. ·OpposiDg Party" means the third party that owes Borrower Miscellaneoùs Proceeds or the party against whom BOrrower hIlS' a right of action in regarclto Miscellaneous Proceeds. Borrower shall be in default, if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result, in forfeiroreof the Property or other material irnpainne!)t, of LeDder',S interest in the Propei1)' or rights, under this, Security Instrument. Borrbwer can cure s~cha default and,if acceleration has occurred. reinstate lIS provided in Sectiqn 19, by causing the actibn or proceeding to be dismissed wit¡ a ruling that, in Lender's judglI\Cnt, precludes forfeirore of the Property or other material il11painne¡¡t qf Lend,er'sinterest in the Propertyorrightsunder,thisSeçurity Instn¡ment. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender., " AIl Miscellaµeous, Prpceeds that are not,' applied to restoration Or repair of' the Property shall be applied il! the order provided for in Section 2. cD -6(WYIIOQOSI.OI e 'ago S I?' " InJt"',J~..!~¥\-. 1009108002 Form 3061 1/01 0920842 COf5rS 12. Borrower Not Released; Forbearance By Lender Not a W¡Uver. Extension of the time fo~ payment or modji'icati9!l ofap1Ç>rti;lation of!he>$IIms $ecured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Bgrrower ~l1all not operate to re1el!Se the liability of Borrower or any Successors iit Interest of Borrower. I..endersb¡¡llnot be req~iredto cOnunence proceedings against any Successor in Interest of Borrower or to refuse. to extend time for payroent or otherwise modify amortization of the sUms secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right Or remedy including, without liníitation. Lender's accepl1lnCe of paYlI1ents frg\11 third persons, entities or Succeiisors· in Interest of BorrO\yer or in arnòunts less than the amount then due, shan not be a waiver of or preclude the exercise of any tight or remedy. 13. JoInt and Several Liability; Co.:signers¡ Successors and Assigns Bound. Botrowercovenants arid agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but d?1,:S ¡¡otex~utethe Note (a "co-signer"): (a) is co-signing this Secudty.. Instrument only to mortgage. grant and convey !he co-signer's .. ínterest in the Property under ilie tenns of this security Instru¡nent; (b) is not persoi1ally obligated topay the sums secured by .this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbe3ror make any accorrunodationswith regard to tlletennsofthis Security Instr;ument or the Note without the co-signer'sconsent.... ..... ... ... .. . ... . Subject. to tJ¡eprovisions. of Section. IS, any Sµccessor in Interest. of. Botrower. who assumes Borro';YCC's obligations under tJ¡isSecurity Instrument in writing,and is approved by Lender, shall obtain all of BOtrDwer's rights and pen,etits under this Security Instrument. Borrower shall not be released from Borrower's opligations and li¡¡bHity under this . Secµrity Instrument unless Lender agrees to such release in writins· The covenants and agreements of this Security Instr;ument shall bind (except as provided in Section 20) and bénefitthe successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services péífonned In connection witJ¡ Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under tJ¡is Security Instr;ument,including, but not limited (0, attorneys' fees, property inspection and valuation fees. In regard to any otJ¡er fees,the absence of express authority inthisSecurity Instl1lment to cbarge a specific fee to Borrower shall not be consirued as a prohibition on the charging of s.uch fee, Lender may not charge feestJ¡at are expressly prohiblte4by this. Security Instrument or by Applicable Law. If th~ Loan is subject to a laW which s.etS maxÎII1UD1loan charges. and that law Is tmally irìterpretedso that the interest. or òilier loan charge~ collected or to be collected in connection with the Loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced b)' the. amount necessary. to . reduce the charge to the pennitted liinit¡ and (b) any sums alreidy collected from Borrower which exceeded pennitted limits will be refunded to.ßorrower. Le¡¡der may chQose to make this refund by reducin~. ilie principal owecj under the Not.e or by making a direct payment to Borrower. If a refund reduces principal, the reduction will. be treatedáS. a partial prepayment wiihout any prepayment charse(whether Or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refune! made by direct payment to Borrower will constilUte a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notlc~. An. notices given by Ðorrower or LeiJdedn c(mnectign with this Security Instrument must be in writing. Any notice to Bòrrower in connection with this Secµritylnstruß1ent shalt be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice. address if sent by other means. Notice to any on,e Borrower shall constitute notice to all Borrowers unless AppHcable LaweJ¡pressly requires otJ¡elWise.. The notice address shall be the Property Address unless Borrower has designated a substitutenoticç: ;¡ddress byootice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lenderspeciñesa procedure for reporting BOtrower's change of address, then Borrower .shallonly report a chaIige'of address through that specified procedure. There may be only one designateclnotice address .under ~his Security Instrument a! anyone time. Any notice to Lender ~hall be giv~ by délivering it or by maili¡¡g .it by .fust class mail to Lender's addréss stated herein unless Lender has designatedanothe~ add~essÞYnoti(;e tÇl Borrower. Any notice in connectioiJwiththis Sec\1fity Instrument shall not bedëelÌ1êd to ha~.e beengivenio Le¡¡der ~ntiI actually rect;ived by Lender. If any ¡¡otice required by this Security Instrol11ent isalse required under Applicable LaW. the Appli(:~le Law requirement will satisfy the Corresponding requirement under thiS Security Instrument. G ,.6iWV) (00051.01 œ PilgÍl'.O'i)f'1& I~¡".I';~' 1009108002 Form 3051 1/01 r:!:¡:!:¡*i:::::!:Hi: ~¡'i!;~'~'~.~'~i~i!~ 0920842 frcr::ng ...\) - ~. 16. GovernIng Law¡ Severability; Rules of COll$fruction. This Secllrity Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is. located. An rights and obligations contained in this Secllrity Instrument are. wbject to any requirements and limitations of Applicable Law. Applicable Law might e~plicitIy or implicitly allow thepárties to agree by contract or it might be silent, bQt· sucl1~ilence ~hall ngt þ~ construed .as a prohibition against agreement by contract. In the ev(:nt that an)' provision gr da¡¡se of thij Se~urity Jnstrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflÎctin~provision. As U$ed In this. Security Instrument: (a.) words of the mascllline gender shaH meilIl and include correspondingneutc;r wgrdsor words (jf the feminine gc:nder; (b) words in the sIngulaz: shall mean and include the plural and vice versa; and (c) the word "maY' gives sole discretion withollt any obligation to take any action. . 17. Borrower's Copy. Borrower shall be. given one copy of thèNote and of this Security Instrument. 18.. Trall$fer of the Property or a BeneficiaI bJ.terest in Ilorrpwer. As used in this Section 18, "Interest. in the Property·. me:µ\S any legal or Þenefichù interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for .deed, contraCt for deed. installment sales COntract or escrow agreement. the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a 1x:nefii::ial interest in Borrower is sold or transferred) without Lender's prior wriuen consent,l.endeqnay require immediate payroent in full of all sumssecµred by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give BOI'rower notice of acceleration. The notÎce shall provide a period of not less than 30 days from the date ¡he not!çe is given in accordance with Section 15 within. which Borrower must pay all sums secure!! by . this Security Ipstrument. If Borrow~r faUs to·. pay these sums prior to the expiration. of ¡his period, LeJ;lder may invoke any remedies permitted by this Securitý Inst!"ument without further notice otdemand on Borrower. 19. Borrower's R.lght to Reill$tate Arter Acceleration. If Borrower meets certain conditions. Borrower .shal1 have the. right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of:. (¡¡) five daysb!:fore sale of ¡he Property pursuant to. any power of sale contained in ihis Security IMtrument;(b)such other period as Applicable Law núght specify for the termination of Borrower's· right to reinstate; . or (c) enrry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then· would be due under this Security Instrument and the Note 2$ jf no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument. including, blltnot limited to. reasonable attorneys' fees,property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest inthe Property and riçhts under this Security Instrument, and Bprrower's obligation to pay the slims. sl;Cured by this Security Instrument, shall continue unchanged. Lender may reqQire that Borrower pay such reinstatement sums and expenses in one or more of the following fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check. bank check. treasurer's check Or cashier's check, provided any such check is ·drawn upon an institution whose deposits are insured by a federal agency, instrijmentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no accelenition had occµrred. However, thisrig¡t to reinstate shall not apply in the case pf acceh:ratioll under Section 18. 20. Sail.! Qf Note¡ Çbange of Loan Servicer¡Notlce of Grievance. The Note or a partial intèrest in the Note (togetþenvith this Secllrity Instrumel10 can þqold one or more times without prior notice to Borrower. A sale núght result in a change in the entity (kµownas the "LoanServicer") that collects Periodic Payments due under the. Note and. this Security. Instrument and perfonns Other mortgage loan servicing obligation$un~er the Note, .this SCCurityInstrument.ai1d Applic¡¡blè Law. There also núght be one or more changes of the LoanServicer unre1at~toa sale oîthe Note; If there is a change of the Loan Service!, Borrower will þegiven writteAAotice of the change which will state the name and address of tile new Loan Servicer, the lIddress to which payments should be made and any other infonnation RESPA _ -8IWV) loadsl.!)' II> Page ·,.t oh s vL ~ 10Ò910a002 l"tI...:~, Form 3061 1/01 ---- 092084Z C00510 requires In cònn~!ipn with a notice of tran,sf~r of servicing. If the Note is sol<l and tllereafter the Loan is servic;ed by a Loan S~rvicer oth~r than the purchaSer Of the Note, thetnOrtgage loan servicing obligations tp Borrower will remain with the Loan Servicer pr be transferred to a S\!cçessor Loan Servlcer and are not ass1lIIl!:d by the Notepurd~aser unless otherwise provided by the Note purchaser. Ndther Borrower nPr Lender may COiIUnen¡;e, join, or be joined to any judicial action (as either an individual IitígiÜ1t or the member of a dass) that arises from the other party'sactipns pursuant to this Security Instrument or that alleges that the other party has breached' any provision of, or any duly owed by rellson òf, this Security IIiI¡trturtent, until such Borrower or Lender hås notified the other party(wi\h such notice given in compliance with the requireme'1ts of Section 15) of such alleged breacll and afforded the otller party heretO a reasonable period after the giving of such notice to take cOrrective IIction. If Applicllble Law provides a time period wlllch must elaps~ before certain action can be taken, that ¡line. perip<l will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity tocuiegi VeIl to Borrower pursuant to Section 22 and the notice of ¡¡cceleration given to Borrower pursuant to Section 18 shall be d~med 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) "HazardoûsSuDstances"áre those substances dermed astoxlc or hazardous substances, pol1\!tants. or wastes by EnviCQnmental Law and the fOllowing substances: g¡¡Solìne, kerosene, other flamtnable or toxic petroleum. products, toxic pesticides and herbicides, volatile solvents, materials containin'g asbestos or formaldellyde, and radioactive materials; (b) " Envirortmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to Ilealth, safety orenvitonmentàJ protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removàJ adion, as defined in Environmental Law; and Cd) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an EnvirollIÍlental Cleanup. Borrower shallllot cause Or perrnit the presence, use, disposal, sto~age,or release of any Hazardous Substljllces, PI' threaten to release any Hazardous Substances, on orin the Property. Borrower sha1l not do. nor allowallyone else to db, anything affecting the Property (a) that is in violation of any ElIvironmentàJ Law, (b) which creates an Environmçntal Condition, or (c) wl1Ì~h. due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affeetslbe value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of I-Iazardous Substances that are generally recognized to be appropriate to nonna! residential uses and to maintenance of the Property (inCluding, but not limíted tb, hazàrdous substances in consumer products). BQrrower shàJI promptly give Lender written notice of (a) any ÍIlvestigation. Claim, demand, lawsuit ór other action by any goveinmentàJ or regulatory agency or private party involving the Property and any I-Iazardous Substance or Environmental Law of which Borrower has actuàJ knowledge, (b) any Environmental Condition. including but not limited fò, anY spilling. leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, lise or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or Is notified bÝal1)' goverrnne~tal or regub.tory ,!uthority,or any private party, that any removàJ or other remediation of any Hazar<lousSubstance affecting the Property is necessary ,Borrower shàJI promptly take all necessary remediàJ åctions in accordance with Environmental Law. Nothingberein shaH create any obligation on Lender for an Environmental Cleanup. G -6(WYII00Q51.01 () Pago"12 rillS Inld'I':~' 1009108002 Form 301>1 1/01 t:::!::~::::·:~::;::; í!:·:~:~.~:M,:j:,:·~ "'J!(:~,. . , ,¡ " .......'4.,'li·····" I,··"" ...<,',; y, :¡'¡::v" .' . ., .' "'I'".'I~'~"'I~" , .2······ ·.):ti:,,¡,~lt:}~··)" 09208L\2 :' 00511 NÖN-UNÌFORM COVENANTS, Borrower and Lender further covenant and agree as follows: 22_ Acceleration; Remedies. Lender shall gIve notice to Borrower prior to accélenition following Borrower's breach ofåny cOvenant Or· agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the aètlon required to cure .the default; (c) a date, not I~ than 30 days from the date the notice is given to Borrower, by which the default must lie CliJ"edj and (d) th!lt.failure to cure the default on or before the date speciIledln the notice may result in acceleration of the sums secured by this Security IQSttument and sale of the Prpperty, The notice shall further Inform Borrower of the right til reinstate after acceleration !lOll the right to bring a court actlòn tö assert the non-existence of a default or any other defeme of BOI"l'ower to acceleration and salè. If tbe detault is not cured pn pr before the datespecifled in the notice, Lender at Its optiòn may require Immediate payment In full of all sums secured by this Security InstrliD:1cot without turtber "emandand.may Invoke the ppwerpf sale and any oth~rremed!es permitted by Applicable Law. Lend!!r sl1aU be entitle!l to collett all expénses Incurred in pursuing the remedies provided In this Section 22, Including, but not limited to, reasonnble nttorneys' fees and eosts oftitleevidence. If Lender invokes tbe power of sale, Lènder shlill give notice ofliltentto foreclose to Borrower and to the person in ¡J0ssésSion of the Property, if different, in. accorc:Jance ,vith Applicable Law. Lender sball give notice of tbe sale to Borrower In the manner provided In Section 15. Lender shall publish the noticeoC sale, and the Property shall be sold inthema~ner prescribed by APplicable Law. Lender Or its designee may purcb.\ise the Prpperty at any sale. Theprocecds pf the sale shall be applied In the fonowing ordçr: (a) to all expenses. of thes¡¡)e, 1nc1\Jding, but not lImited to, rCjlsonable attorneys' fees; (b) tgall swnssecµredby t)¡isSeèurityTnstrument¡ and (c) aily excess to the person or persons legally :ntltJed to It. 23. Relèase. Upon paynient of all sunis seclu'èd by this Security Insirument, Lender shan release this Security Instrument. Borrower shall pa'yany recordation costs. Leilder may charge Borrower a fee for releasing this Security Instrument, but only if the fee Is paid to a third party fOr services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyonling. G -6(WY t00051.01 () Page t3o"oHa Initl.Io:~ª. 1009108002 Form 3061 1/01 s:: r() ~ '< _. 0 r ::3 c: m () (") ::3 JJ '0 Q..-<t ñi 3 3 ::3 0 "tI ëiï - ~ CII õ' m ::J JJ m en x 0 "C Z @' CII Z s:: 0 II> ~ ë) ~~ ::.- ~ ~ ~ 01» "tI ~ 3CD c ~ 5' 0 OJ 0 (Q - C () --- 092084Z cor512 BY SIGNING BELOW, Bôrioweraccepts and ágrees to the terms and còvenants contained in this Security lristtument and in any Rider executed by Borrower and recorded with it æÆ L ~seal) ~ KEVIN ASTLE ~Borrower r;;un1f;'~ J '. NIFER . STLE (Seal) -BOrrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seái) -Borrowèr (Seal) ·Borrower 1009108002 '-"-6(wY) 100051.0' ~ . PI"g.1~_of·115 Form 30!;1 1/0' 0920842 C00513 The foregoing in$ttument was acknowledged before me this by Vo../e t'"ì~ RJ e r3oY1 County ss:~-o f/l. s/d-R-c)f. 'ZDyÒrYl c'lUj ~ ~ ;;:¿~::2 CX)(þ-l STATE OFWYOt\nNG, My Commission Expires: 3/é).'f1201"~ Notary 1'ublic VALERIE PETERSON - NOTARY PU8UC èounty of State of Lincoln Wyoming My Commission Expires March 24, 2010 G -6(WÝ) (0005),°' ~ ·P.lg016-0("15 'nll¡.'s:~¿L 1009108002 Form 3051 1/01 0920842 cor5l4 Exhibit A That part of the NE1/4NW1/4 of Section 29, T34N, R118W, Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 135 of Photostatic Records on page 89, described as folloV's: BEGINNING at a spike on the north line of said Section 29, S89047'34'W, 1002.34 feet. from the northeast corner of the NW1/4 of said Section 29; thence S89°47'34"W, 183.81 feet. along the north line of said Section 29, to a spike; thence SOoo12'26"E, 236.99 feet, along a line perpendicular to said north line, to a point; thence N89°47'34"E, 183.81 feet, along a line parallel with said north line, to a point; thence NOoo12'26"W, 236.99 feet, along a line perpendicular to said north line, to the SPIKE OF BEGINNING *~:*::m:::::1Ii¡ ¡·;~';'·jil_;;tj.j'i -_._-- 0920842 -:('515 ADJUSTABLE RATE RIDER (LIBOR Six-Month Index (As Published in rile Wáll Street JOllriJal)-Rate Caps) 2 YEAR RATE LOCK, 5 YEAR INTEREST ONLY PERIOD tHIS ÀDJUsTAatE RATEJUDER is (11ai¡Q this 26th day of July, 2006 , and is incorporated into and shall be deemed to amend and supplemQlltthe Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undernigrted ("Borro\ver") to secure Borrower's Adjustable Rate Note (the ''Note'') to New Century Mort~ageCorp.o/'iltlon ... ... .. . ... .. ("Lender") of the same date andcoveringthe pròpeìty described in the Security fnstrument and Iocated at: 3228 COÚNTY RD 122. Bedford, WY 83112 (property Address) THË NÓTECbNTAINSPROvislONSALLbWING FORCHANGES iN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreemel1ts made in the Security Instnlment, Borrower and Lender further covenant and agree .as fdHows: A. INTEREST RAtE..v.iD MO!'lTHL \"PAYMENT CHANGES The Note provides for ¡fu initial interest rate of 9.650 'Yo. The Note provides for chànges inthe interest iàte arid monthly payments as follòws: 4. INTEREST RATE AND MONTIILY PAYMENT CRANGF;S (A) Change Dates The interest rater wlllpay lTIay èhangeol1 thefustday ofSeptember,200ð .. . . ..... . .. . . and on the sa(11e day of eve!')' 6th month thereafter. E¡¡ch date on which 'my interest rate could èhange is called an "Interest Rate Change Date." (B) The Index Beginning Witllthe iirst InterestRateCh¡u¡geIJate, my interestratewil! be based onan Index plus ä margin.. TIle "Index" í~ the average of inter4ankotTered rates for six-month dollar deposit~ in the London m;lfket ("LIBOR "),aspu9lis1\ed in The Wall Street JOllmaZ"Money Rates" Table. The ntost recent Tndex figure available as of the first bu~iness day of the month immediately preceding the month in which the Interest Rate Change Date Occurs is called the "Currellt Index." Ifthe Index is no 10n~~ravaiJable, the NQteHolder will chj)ose a newindextÌ1at is based upon comparabIe information. The Note Holder wiJl give·me noûce of this choice. NCJ\lC Fixedl ARM .six Montn 1,.IBOR Inicrest Only Rider (Mul1ist:l!e) RE-441 (051005) Page \or3 1009108002 i4. 09208~2 C00516 (C) Calculation of êhanges Cn each Interest Rate Change D;lte,!he Note Holder wìll calculate my neW interest rate by adding Six And Three Tenth(s). .. .. ..percentage)'Joints ( .. . . 6.300 %) to. the Current Index, The Note Holder will then round this figure to !he nearest one-eighth of one percentage point (0.125%), Subject to the limits stated in Section 4(D) below,this amount will be my new interest rate untll !he next Interest Rate Change Date. (i) IDterest-OnlyPeriød. The "Interest-on1yPeriCld" is the period from !he date of this Note through September 1, 2011, calleli !he ".'\m0rti:¡;ation Start Date." Duringthe Interest-only Period,mymonthly payments will only p~ythe interest I owe. During the Interesi-only Period. tile. NQte.Holder will calclllate Il!e amount.ofmy monthly pa)%ent to be (>ne-twe1fth (1/12th). of one (I) year's interest at the !hen applicable interest rate. The result of this calculation will be the amount of my monthly payment until changed. (II) ~mortjzation.. Periol!. Beginning on the Amorti~aijon Date my monthly pa)%ents will include prin.;ipa!. starting on the Amortization Start Date aDd continuing until the Maturity Date, on each Interest Rate Change Date the Note Holder will calculate the amount of the monthly payment that would be sufficient to fully repay the remaining unpaid principal in equal monthly payments by the Maturity Date at the new interest rite,assuming, ror pUrposes of each calculation, that the interest rate did not change again. The resu1tor ihiscalculation will be the new amount of my monthly payment unt.il the next Interest Rate Chance Dat.e. (D) Limit on Interest Rate Changes The.interest rate I aînreqoired to pllyaí the firstChånge Date will ß()tbegreaterthaJ;111~~!'iO% or less than 9.650 %. Thereafter,my interest rateo/iII never be increasedo(4ecreasedon any single In.terest Rate Change Dine by more thliD one and oneha1f percentace points (1.5%) from the rate of interest.I have been paýing for the preceding month. My interest rate will never be ¡¡reater than 16_650 % or less than 9.650 %. (E) Effective Date of CbangeS My Ilew interest rate. witI become etTectiveon eaclJ, Intere~t Rate Change Date. I witI pay i}¡.e amount of my new month!ypayment beginning on the fust monthly payment date after the Interest Rate Change Date until the amount of my monthly paymentchangcsilgain. (F) Notice iíf ChangeS The Note Holder \vill deliver Dr mail to me a notice of any changi:s iri my interestrate and the amOunt of my monthly payment at least 25 days before the i:ffecti\'e dåte ot' any change. The notice will iriclµde inforrnation required by law to be given to me ;lnda1so the title and telepllOne number of II person who will answer any questions I may have regarding the notice. 11. GOVERNING LAW - SECURED NOTE The Note ¡sgovemed by Jederalla.w and the iÌiW()f the jurisdiction in whichthepropèrtý encumbered by the Security Inslrument (as defined below) is 10c;lted. In addition to the protections given Jothe Note Holder \.IDder the Note, a MOl1gage, Deed of Trust or Security Deed (the "Security Instrument"), ~ated th¢same date as the Note protects the Note Holde~ rrom possiþ1e losses which might result ifl ¡Jonot keepthepromise~ which I make in the N()te. That Security Instrument describes how and under what conditiol1$ I may be required to make immediatepaY¡¡lent in full of all amounts .Iowel,mder the Note. Some of those conditions are described as follows: NCMC Fixed! ARMS¡x Month LIBOR Intere$t Only Rider (Multl$lale) RE-44 I (051005) . Pagé2of.3 1009108002 ~. ::::~:::z:::::::::~:;· ~~~:~~;~:f!:_::;~ ,'.-' ; ¡ - . ~. . +"'."-<.' :~.~:: <:: .- -, ~-'- ':'. -"", 0920842 COC517 'B. 1l~.A.NSFER OF Tnt PR01>ERTY OR. A BENÈFIC1AL INTEREST Ii'< BO'iiRoWER. Uniform Covemlßt. 18 of the Security Instrument is amended to read as follows: Transfer of the Prcipertyor 1\ Beneficial IntereSt In Borrower. If all or any part of the Property orany interest in it is sold ortraÌ1sferred (or. if a beneficj¡d interest in Borrower is sold or transferred and. Borrower is D.0t a natural person) witho!lt Lender's prior written C<0nsent, LendetIl1<lY, at its option, req¡¡ire immediate payment in full of all sums secured by this SecurityInstruinent. Howevèr, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this o'ption, Lendershallgive Bo~ower notice of acceleration. The riotice ¡¡hali pr!)videa period of not less than .30 days fìòmthe date the notice is' deliyered or mailed within which Borrower¡nust payallSUll1S secured by t!lis Security Instrument If Borrowerfailsto P<lY these sums prior to the expiration of thisperlod, Lender may invoke any remedies permitted by this Security Instrument without further notice or dema.nd on BorroWer. BY SIGNING BELOW, Borrower accepts lind agrees to tI1e terms and COYê¡¡ants co¡¡tained in this Adjustable Rllte Rider. ~.~ KEVIN ASTLE 4=L ()~ ..Borrower -Borrower ~BOrro...et -Donowcr ·ßorrowcr -ßôtT6Wct -Borrower ·ßo'rtOWcr {Sign O·jglnalOnly} NÇM(:" Fixed! ARM Six Month UBPR Interest óÌ1Jý Rider (Multislate) RE-441 (05100~ pagd of') 1009108002 I / COC518 PREPAYMENT lUnER ADJUSTABLE RATE LOAN This Prepayment Rider is made this 26th. day of July 20Cl6 ,and is incorporated into and shall be deemedto amend andsu!,¡¡lement the Promissory Note (the "Note") and Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure repayment of13orrower's Note to New Century Mortgage Corporation (the "Lender"). To theexfent that the prövisions ofthi~ Prepô\yment Rider are incQllJlistent with the proyis.iQns of ihe Note I!ndlor Security InstrumeIt. theptovisions of this rider shall prevail over and shaH supersede any such inconsistent provisions of the NQte andlor Security Instrument. In .ddition to thecovenaµts <lnd agreemen!S made in the Note and Security Instrument, the Borrower and Lender further COVena!!t and agree as roHows: 5. BORQ.OWE:RS RIGHT TO PREPAY I have the right to make prepayments of principal any time béfore they are due. A payment of principal only Is. k.nown as a "prepayment,". When I maJc.e a prepayment. I will tell the Note Holder In writIng I am doing 50. The Note Holder will use all of my prepaytr!ents to reduce the amount of principlII that I oWe under tbls Note. If I make a partlalprepayment,therewlU be. no changes In the due dates of my monthly payments unless: the Note Holder agrees In writing to those changes. My partial prepayment ml!Y reduce the amount of my monthly payments after the first Change Pate following my partial prepayment. If ,,'liMn 2 year(s) from the date of execûtion of the Security Instrument, I m.ake a full prepayment or, In certain cases a partJd prepayment, and the total øf such prepayment(s) in any 12-month perIod exceeds TWENTY PERC~NT (20%) ohhe orIgInal principal amu\lr¡tøf this loan, I ",'/II pay a prepayment chllrge In an amount equal to the payment otsix (6) months advance Interest on tlJeamount by ~yl¡lch tbe t"talormy prepayment(s) wUhln that 12-munth perIod exceeds TWENTY PERCENT (20%) ufthe ørlglnal principal amuunt ufthe loan. BY SIGNING BELOW, Boiro~ver accepts and prÆ~ KEVIN ASTLE agrees to the temu and covenants contained ~n~Å¿ ~ JE FER AS LE in this NCMC !'repay Ridér , AIW (MóliisÌ¡¡te) RB-103 (020800) P-s¢ tQfJ 1009108002 :,:,:.;':.:11' .~~::;:_~ :.il:~~~!8si::J