HomeMy WebLinkAbout921049
il¡f~~~~~~~~¡t@m
~r'~~¡¡10~~
"¡'i'.¡'·';'¡';;;·:·¡·'~)89
;"""".......'..'.I,J
fl7
After Re<:o!din.z Return To:
Loan Number: 129934127
1ST BANK - AFTON
ATTN: ROXIE JENKINS
314 S WASHINGTON/PO BOX 1620
AFTON, WY 83110
-- -.--, -..- -
RECEIVED 8/8/2006 at 3:00 PM
RECEIVING # 921049
BOOK: 629 PAGE: 389
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
[~ace PJ:xJve This Une For f«ording DrtaJ
MORTGAGE
MIN: 100015700070808270
DEFINITIONS
Words used in multiple sections of this docurœnt are defined below and other \\Ords are defined in Sections 3, 11,
13, 18, 20 and 21. Certain rules regarding the usage of\\Ords used in this docurrent are aIsoprovidedin Section 16.
(A) ''Security Instnnœnt"rreans this cIoCUlre11t, Wllch is dated
with all Riders to this docurœnt.
(B) "Borrower" is BlAKE HOOPES AND KEL1I
WIFE
AUGUST 2, 2006
, together
HOOPES. ,
HUSBAND &
Borro\^ær is the IIDrtgagor illlder this Security Instrurœnt.
(q 'MERS" is 110rtgage Electronic Registration Systerm, Inc. MERS is a separate corporation that is acting
solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Secmity
hlStrurœnt. MERS is organized and existing lIDder the Jaw; ofDelawn-e, andhas an address and telephone number
ofP.o. Box 2026, Flint, MI 48501-2026. teL (888) 679-MERS. .'
(D) ''Lender'' is 1ST BANK - AFTON
Lender is a A STATE BANKING ASSOCIATION
and existing tmder the law; of WYŒ1ING
Lender's address is P.O. EOX 3110, ALPINE, WYCMING 83128
organized
(E) "Note" IreanS the promissory note signed by Borrovær and dated AUGUST 2, 2006
The Note states that BorroVvef O'M'S Lender ONE HUNDRED FIfTY THOUSAND AND 00/100
Dollars (U. S. $ 150, 000. 00 ) plus interest.
Borro\^ær has promised to pay this debt in regular Periodic Payræntsand to pay the debt in filll not later than
SEPTEMBER 1, 2036 .
(F) ''Property'' IreanS the property that is described below under the heading "Transfer of Rights in the Property. "
(G) ''Lo~'' IreanS the debt evi denced by the Note, plus interest, any prepayrœnt charges and late charges due under
the Note, and all Sl..1I1E due tmder this Security Instrurœnt, plus interest. ..
furrower Initials: L -11:L
WYO'v1ll\G-SinQle Farrily-Fænie Mae'R'eddie Mac LNFœv1INSTR1v1ENT _ MffiS
Fürm 3051 1/01' Page 1 of 14
DocMagic ~ 800-649-1362
www"cb::rmgc.can
\\»3051.=
~·"····'''''''''''''---·","",-=·,-.·,u,,,,,,,,,.,,,,.,,,,,,·.~..-__-:,~,,, .
. ...........,
- .. .,_.,-~ ..., . ~..' ... .. . - - .' ". ·.·~,·_T.~.". ',"',. , .
~~mï~;;~J~t
".......~, '.~."'~._.., ,'",.< .
······..........1.....
,...-"---.~.~""..-'-<,..,_.-'.._-'-:,,,.,-~..
0921049
000390
(II) ''Riders'' rœans all Riders to this Security :InstruIrent that are executed by Borro\\ef. The follO\ving Riders are
to be executed by Borro\\er [check box as applicable]:
o Adjustable Rate Rider
o Balloon Rider
o 1-4 Family Rider
I!J Condominium Rider
o Plarmed Unit Developrœnt Rider
o Biv.eekly Payrœnt Rider
o Second Harre Rider
o Other(s) [specify]
(I) ''Applicable law" rœans all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative rules and orders (that have the effect of law) as \\ell as all applicable final, non-appealable judicial
OpllllOns.
(J) "Conmnmity Association Dues, Fees, and Assessnrnts" rœans all dues, fees, assessrrents and other charges
that are irrposed on Borro\\er or the Property by a condominium association, horœoWlers association or similar
organization.
(K) "Electronic Funds Transfer" rœans any transfer of fimds, other than a transaction originated by check, draft,
or similar paper instrurœnt, vJllch is initiated through an electronic tenninal, telephonic instrurrmt, corrputer, or
magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an aCCOlIDt. Such tenn
includes, but is not limited to, point-of-sale transfers, autorrnted teller machine transactions, transfers initiated by
telephone, wire transfers, and autorrnted clearinghouse transfers.
(L) "Escrow Items" rœans those item; that are described in Section 3.
(M) "MisceJlaneous Proceeds" rœans any colJlJeflSatÎon, settlerœnt, award of damages, or proceeds paid by any
third party (other than insurance proceeds paid moor the coverages described in Section 5) for: (i) damage to, or
destruction of, the Property; (ii) conderrnation or other taking of all or any part of the Property; (iii) conveyance in
lieu of condeß11ation; or (iv) misrepresEntations of, or omissions as to, the value and/or condition of the Property.
(N) ''Mortgage Insmance' I rœans insurance protecting Lender against the nonpayrœnt of, or default on, the Loan.
(0) "PeJ10dic Paynrnt" rœans the regularly scheduled arromt due for (i) principal and interest mder the Note,
plus (ii) any arromts lll1der Section 3 of this Security:InstruIrent.
(P) "RESPA" rœans the Real Estate Settlerœnt Procedures Act (12 U. S. C. §2601 et seq.) and its irrplerœnting
regulation, Regulation X (24 C.F.R Part 35(0), as they might be arœnded from tirre to tirre, or any additional or
successor legislation or regulation that governs the sarœ subject IDltter. As used in this Security :InstruIrent,
ftRESP Aft refers to all requirerrents and restrictions that are iI1lXJsed in regard to a "federally related rmrtgage loan"
evEn if the Loan does not qualify as a "federally related rmrtgage loan" mder RESP A
(Q) 'Successor in Interest of BoITOwer" rœans any party that has takEn title to the Property, \\hether or not that
party has assmœd Borro\\er' s obligations mder the Note and/or this Security :InstruIrent.
furro\\ef Initials: rs µ
J1l
WYCMIt\G-Snale Farrily-Fænie MaelR'edcie Mac UNIFCRvIINSTFUvlENT _ MERS
Form30511/0r Page 2 of 14
DocMagic ~ 800{;49-1362
www.cbcrragc.can
\\)'3051.=
.- ..,--, .,...........,.",. ....'.-.,.. " . -'"''''---'-''.'''--'-'''-''' "-.""ll.:'.'. co.:' ',,_-c--,. ..., '''J~_ '.''';.'' --:.., _.....'._.,,'-'.-:_:..,-.:__.
·'...·..Id;".....,. ..
_..:"-'.1.:O.'I.~:.::;,~. .~, c"~t.;·-,,,::,:: '----="': ,_:_,_:.... .,'....."i....,..~,'..',.:....._,;:.. .,,;:,.....
092104-9
C00391
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrurœnt secures to Lender: (i) the repaym.nt of the Loan, and all rmeVvals, extensions and
mxiifications of the Note; and (ii) the perfommce of Borrov.er' s covenants and agreerrents under this Security
Instrurœnt and the Note. For this purpose, Borrov.er does hereby lIDrtgage, grant and convey to MERS (S9lely as
nominee for Lender and Lender's successors and assigns) and to the successors and assigns ofMERS, with þov.er of
sale, the following described property located in the
COUNTY of LINCOLN
rr~ of Recording Jurisdiction] . (N¡rre of Recor~ Jurisdiction]
UNIT 2-1 OF THE CONDJS AT VALLI -VU BUILDINGS 1, 2 & 4 LINCOLN
COUNTY, WYCMING~~ACCORDING 'ill THAT PIAT ITIED JuNÉ 80{ 2006 IN THE
OFFICE OF THE Ll.L\JCOLN COUNTY, CLERK ÞS PIAT NJ. 240-A.
\\hich currently has the address of
83542 US HIGHWAY 89 2-1
[Street]
AFION
[City]
, \\Yoming
83110 ("Property Address"):
[Zip Code]
TCXJE1HER WIlli pll the irrproverrents now or hereafter erected on the property, and all easerrents,
appurtenances, and fixtures now or hereafter a part of the property. All replaceIrents and additions shall also be
covered by this Security I:nst:rurrent. All of the foregoing is referred to in this Security Instrurœnt as the "Property. "
Borrov.er understands and agrees that MERS holds only legal title to the interests granted by Borrov.er in this Security
Instrurœnt, but, if necessmy to corrply with law or custom, MERS (as nominee for Lender and Lender's SUccessors
and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose
and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling
this Security Instrurœnt.
BORROWER COVENANTS that Borrov.er is lavvfu1ly seised of the estate hereby conveyed and has the right
to lIDrtgage, grant and convey the Property and that the Property is unmcurrbered, except for mCurrDrances of
record Borrov.er warrants and win defend generally the title to the Property against all c1airrn and demands, subj ect
to any encurrDrances of record
1BIS SECURlTYINSIRUMENr corrbines uniformcovenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a uniform security Ïnstrurœnt covering real property.
~~miíimill
UNJ FORM COVENANTS. Borrov.er and Lender covenant and agree as fol1ov.s:
1. Paynrnt of Principal, futerest, Escrow Items, Prepaynrnt Ü1arges, and ute Omrges. Borrov.er shall
pay Wlen due the principal of; and interest on, the debt evidenced by the Note and any prepayrœnt charges and late
charges due under the Note. Borrov.er shall also pay funds for Escrow Items pursuant to Section 3. Payrren.ts due
under the Note and this Security Instrurrent shall be !TIlde in U. S. currency. Hov.ever, if any check or other
instruIrent received by Lender as payrœnt under the Note or this Security Instrurrent is returned to Lender unpaid,
Lender may require that any or all subsequent payrœnts due under the Note and this Security Instrurœnt be made in
one or mxe of the fonowing form;, as selected by Lender: (a) cash; (b) rmney order; (c) certified check, bank check,
treæurer's check or cashier's check, provided any such check is dra'M1 upon an institution \\hose deposits are insured
by a federal agency, instnurentality, or entity; or (d) Electronic Funds Transfer.
Payrœnts are deerred received by Lender Wlm received at the location designated in the Note or at such other
location as rrny be designated by Lender in accordance with the notice provisions in Section 15. Lender may return
Ibrrower Initials: ~ ~
VVYC1v1II\G-Snde Fanily-Falnie MaelFfedde Mac LNR:A\1INSTR1v100 _ Mffi3
Form 3051 1/0r Page 3 of 14
DocMagic ~ £300.649-1362
www..cbaragc.can
1\ý3051.1I1'm
, ";\mtImmm
,"'._~'- ~~'" "'"'-'--<.-'<.~,- .".----'-'-----'- _,__" .~d_..".· ."..'
··..·"'-'-·~-";,;;.-<~"",··_"-'~,--"-''-,.:...·.__1,.....,,_~__..
JJ3Z1049
000392
any payrœnt or partial payrœnt if the payrœnt or partial payrœnts are insufficiEnt to bring the Loan CillTEnt. Lender
may accept any payrœnt or partial payrœnt insufficiEnt to bring the Loan CtUTEnt, without waiver of any rights
hereooder or pr~udice to its rights to refuse such payrœnt or partial payrœnts in the future, but Lender is not
obligated to apply such payrœnts at the tirre such payrœnts are accepted. If each Periodic Payrœnt is applied as of
its scheduled due date, thEn Lender need not pay interest on tmapplied funds. Lender may hold such ooapplied funds
ootil Borrov,er 1TIÙ<:es payrœnt to bring the Loan CillTent. IfBorro\\er does not do so within areæonable pèriod of
tirre, Lender shall either apply such funds or return them to Borro\\er. If not applied earlier, such funds will be
applied to the outstanding principal balance ooder the Note imrrediately prior to foreclosure. No offset or claim
Wllch Borrov,er might have now or in the future against Lender shall relieve BorrO\\er £Tom making payrœnts due
ooder the Note and this Security Inst:nurent or performing the covenants and agreerrents secured by this Security
Instrurrent.
2. Application of Paynrnts or Proceeds. . Except as otherwise described in this Section 2, all payrrents
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due ooder the Note;
(b) principal due ooder the Note; (c) arrooots due ooder Section 3. Such payrrents shall be applied to each Periodic
Payrœnt in the order in vJllch it becarre due. Any remúning arrooots shall be applied first to late charges, second
to any other arrooots due ooder this Security Inst:nurent, and then to reduce the principal balance of the Note.
If Lender receives a payrœnt £Tom Borro\\er for a delinquent Periodic Payrœnt vJllch includes a sufficient
arrooot to pay any late charge due, the payrœnt may be applied to the delinquEnt payrœnt and the late charge. If
IIDre than one Periodic Payrœnt is outstanding, Lender may apply any payment received £Tom Borro\\er to the
repayrrmt of the Periodic Payrœnts if, and to the extEnt that, each payrœnt can be paid in full. To the extent that
any excess exists after the payrœnt is applied to the full payrrent of one or IIDre Periodi c Payrœnts, such excess may
be applied to any late charges due. Volootary prepayrœnts shall be applied first to any prepayrœnt charges and then
as described in the Note.
Any application of payrœnts, insurance proceeds, or Miscellaneous Proceeds to principal due ooder the Note
shall not extend or postpon~ the due date, or change the ærooot, of the Periodic Payrœnts.
3. Funds for Escrow Items. Borrov,er shall pay to Lender on the day Periodic Payrœnts are due ooder the
Note, ootil the Note is paid in full, a sum (the "Foods") to provide for payrrent of arrooots due for: (a) taxes and
assessrrents and other itellE vJllch can attain priority over this Security Instrurœnt as a lien or EncOOlJfance on the
Property; (b) leasehold payments or groood rents on the Property, if any; (c) premium; for any and all insurance
required by Lender ooder Section 5; and ( d) Nfortgage Insurance premium;, if any, or any sum; payable by Borro\\er
to Lender in lieu of the payrœnt of Nfortgage Insurance premium; in accordance with the provisions of Section 10.
These itellE are called "Escrow Items." At origination or at any tirre during the term of the Loan, Lender may require
that Community Association Dues, Fees, and Assessrrents, if any, be escrov.ed by Borro\\er, and such dues, fees and
a.ssessrrents shall be an Escrow Item Borrov,er shall proIJ1:>tly furnish to Lender all notices of arrooots to be paid
ooder this Section Borro\\er shall pay Lender the Foods for Escrow Item; unless Lender waives BorrO\\er's
obligation to pay the Foods for any or all Escrow Items. Lender may waive Borro\\er' s obligation to pay to Lender
Fmds for any or all Escrow ItellE at any tirœ. Any such waiver may only be in \\fiting. In the event of such waiver,
Borro\\er shall pay directly, \\hen and \\here payable, the arromts due for any Escrow Item; for vJllch payrœnt of
Foods has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidEncing such payrœnt
within such tirre period as Lender may require. Borro\\er' s obligation to rmke such payrœnts and to provide receipts
shall for all purposes be deemrl to be a covenant and agreerrent contained in this Security Instrurœnt, as the phrase
"covenant and agreeIreI1t" is used in Section 9. IfBorrov,er is obligated to pay Escrow Item; directly, pursuant to
a \V<1Ïver, and Borro\\er fails to pay the arromt due for an Escrow Item, Lender may exercise its rights ooder Section
9 and pay such arrooot and Borro\\er shall then be obligated ooder Section 9 to repay to Lender any such arrooot.
Lender may revoke the waiver as to any or all Escrow Items at any tirre by a notice given in accordance with Section
15 and, upon such revocation, Borro\\er shall pay to Lender all Foods, and in such arrooots, that are thEn required
mder this Section 3.
Lender may, at any tirre, collect and hold Foods in an arrooot (a) sufficiEnt to permit Lender to apply the Foods
at the tirre specified ooder RESP A, and (b) not to exceed the maxim.nn arrooot a lender can require ooder RESP A
Lender shall estimate the arromt of Foods due on the basis of CillTent data and reæonable estimates of expenditures
of future Escrow ItellE or otherwise in accordance with Applicable Law
Porro~ hútia1s: ß1L t-N
WYC1VIII\G-Snde Farrily-Fænie MaelFredde Mac LNRRv1INSTR.Xv1ENT _ MffiS
Form30511/0r Page40f14
DocMagic ~ 800-649-1362
www.ctx:rmgc.can
\\)'3051.=
·-··"·"'---'''''.....·.''·0·..'·.
""'~-~~'" ."'...o......,..,~......"'.,.... '." ~_,~_,_"" ,=-=.....o,....~,
......£,...,...."....-."
..', ".' ·_·_""~;""--'-'~·"'-'---"-'-'-~!u."-'_~~.:.>'-=·"--.-""'--"-'-'-4..,._" ._.._h C'.'".".-,.,-,,_', ", .,.,
0921.049
The Foods shall be held in an institution \\hose deposits are insured by a federal agency, instrurrentality, or
entity (including Lender, if Lender is an institution \\hose deposits are so insured) or in any Federal Harre Loan
Bank. Lender shall apply the Foods to pay the Escrow IteIlE no later than the tirre specified ooder RESP A Lender
shall not charge Borro-mr for holding and applying the Foods, annually analyzing the escrowaccOlmt, or verifying
the Escrow IteIlE, tmless Lender pays Borro\\ef interest on the Foods and App]icable Lawpemits Lender to rrnke
such a charge. Unless an agreerrent is rrode in writing or App]icable Law requires interest to be paid on the Foods,
Lender shall not be requîred to pay Borrov.er any interest or eænings on the Foods. Borro-mr and Lender am agree
in writing, hov..ever, that interest shaI] be paid on the Foods. Lender shaI] give to Bcmo-mr, without charge, an
annual accOlmting of the Foods as requîred by RESP A
If there is a surplus of Foods held in escro'N, as defined ooder RESPA, Lender shall accooot to Borro-mr for
the excess fi.mds in accordance with RESP A If there is a shortage of Foods held in escro'N, as defined ooder RESP A,
Lender shall notify Borro-mr as requîred by RESP A, and Borro-mr shall pay to Lender the aIIDoot necessary to rmke
up the shortage in accordance with RESP A, but in no ITDre than 12 rronthly paymnts. If there is a deficiency of
Foods held in escro'N, as defined ooder RESP A, Lender shaI] notify Borro-mr as required by RESP A, and Borro-mr
shall pay to Lender the aIIDoot necessary to rmke up the deficiency in accordance with RESP A, but in no rrore than
12 rronthly payrœnts.
Upon payrœnt in full of all sum; secured by this Security Instrurrent, Lender shall proIII>tiy refi.md to Borro-mr
any Foods held by Lender.
4. 013rges; liens. Borro\\ef shall pay all taxes, asses.srrents, charges, fines, and ÎI1lJüsitions attributable to
the Property \\bich am attain priority over this Security Instrurrent, leasehold paymnts or groood rents on the
Property, if any, and Corrm.mity Association Dues, Fees, and Assessrrents, if any. To the extent that these iteIlE
are Escrow IteIlE, Borro\\ef shall pay them in the rmnner provided in Section 3.
Borro-mr shaI] prorrptiy discharge any lien \\bich has priority over this Security Instrurrent tmless Borro-mr:
(a) agrees in writing to thepayrœnt of the obligation secured by the lien in armnner acœptableto Lender, but only
so long as Borro-mr is perfuming such agreerrent; (b) contests the lien in good faith by, or defends against
enforcerœnt of the lien in, legal proœedings Wlich in Lender's opinion operate to prevent the enforcerrent of the lien
\\bi]e those proœedings are pending, but only tmti] such proceedings are conclude<L or (c) secures ITom the holder
of the lien an agreement satisfactory to Lender subordinating the lien to this' Security Instrurrent. If Lender
determines that any part of the Property is subject to a lien \\hich am attain priority over this Security Instrurœnt,
Lender nny give Borro-mr a notice identifying the lien. Within 10 days of the date on \\bich that notice is given,
Borro-mr shall satisfy the lien or take one or rrore of the actions set forth above in this Section 4.
Lender rmy require Borro\\ef to pay a one-tirre charge for a rea! estate tax verifiC<úÍon and! or reporting service
used by Lender in connection with this Loan.
5. Property Insurance. Borro-mr shall keep the iIII>roverrents now existing or hereafter erected on the
Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
including, but not limited to, earthquakes and floods, for \\bich Lender requîres insurance. This insurance shall be
maintained in the aIIDoots (including deductible levels) and for the periods that Lender requîres. What Lender
requîres pursuant to the preceding sentences am change during the term of the Loan. The insurance carrier providing
the insurance shall be chosen by Borro\\ef subj ect to Lender's right to disapprove Borro\\ef' s choice, \\hi ch right shall
not be exercised tmreasonab]y. Lender may require Borro-mr to pay, in connection with this Loan, either: (a) a one-
titre charge for flood ZDne determination, certifiC<úÍon and tracking services; or (b) a one-tirre charge for flood ZDne
detennination and certifiC<úÍon services and subsequent charges each tirre rem:q:>pings or similar changes occur \\bich
reasonably might affect such detennination or certifiC<úÍon. Borro-mr shall also be responsible for the paymnt of
any fees irq:>osed by the Federal Errergency Managerrent Agency in connection with the review of any flood ZDne
determination resulting ITom an objection by Borro-mr.
IfBorro-mr fails to mrintain any of the coverages described above, Lender rmy obtain insurance coverage, at
Lender's option and Borro-mr' s expense. Lender is ooder no obligation to purchase any particlÙar type or aIIDoot
of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borro\\ef, Borro-mr's
equi ty in the Property, or the contents of the Property, against any risk, hazard orJiability and might provi de greater
or lesser coverage than was previously in effect. Borro-mr acknovJedges that the cost of the insurance coverage so
obtained might signifiamtiy exceed the cost of insurance that Borro-mr colÙd have obtained. AnYaIIDoots disbursed
000393
~¡~~l¡l¡mmm~m~
Eorro~er Initials: J] IlL t-L
WYC1v1ING-Snq/e Fanily-Fænie MaelR'edde Mac LNFCRv1 INSTRXv100 _ MER>
Form30511/0r Page50f14
DocMagic ~ 800-649-1362
WW\v. cbcrragc. can
\\y3051.=
Qn~mj*m
0:9:--::1049
by Lender lIDder this Section 5 shall becorre additional debt ofBorrov.er secured by this Security Instrurœnt. These
anmmts shall bear interest at the Note rate from the date of disburserrent and shall be payable, \\ith such interest,
upon notice from Lender to Borrov.er requesting payrœnt.
AIl insurance policies required by Lender and rffiewals of such policies shall be subject to Lender's right to
disapprove such policies, shall include a standard rmrtgage clause, and shall narre Lender as rmrtgagee andl or as an
additional loss payee. Lender shall have the right to hold the policies and rffiewal certificates. If Lender rèquires,
Bmov.er shall proIII'tly give to Lender all receipts of paid premium; and rffiewal notices. IfBorrov.er obtains any
form of insurance coverage, not otherwise required by Lender, for daImge to, or destruction o( the Property, such
policy shall include a standard rmrtgage clause and shall narre Lender as rmrtgagee andlor as an additional loss
payee.
In the event ofloss, Borrov.er shall give pronvt notice to the insurance carrier and Lender. Lender rmy rmke
proof of loss if not made proIII'tly by Borrov.er. Unless Lender and Borrov.er otherwise agree in witing, any
insurance proceeds, Wlether or not the lIDderlying insurance \\as required by Lender, shall be applied to restoration
or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
During such repair and restoration period, Lender shall have the right to hold such insurance proceeds lIDtil Lender
has had an opportunity to inspect such Property to ensure the Mrk has been cofi1Jleted to Lender's satisfaction,
provided that such inspection shall be lIDdertakffi proIII'tly. Lender rmy disburse proceeds for the repairs and
restoration in a single payrrent or in a series of progress payrœnts as the Mrk is cofi1Jleted. Unless an agreeIrel1t
is made in witing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
required to pay Borrov.er any interest or emnings on such proceeds. Fees for public adjusters, or other third parties,
retained by Borrov.er shall not be paid out of the insurance proceeds and shall be the sole obligation ofBorrov.er.
If the restoration or repair is not economically feasible or Lender's security \\QuId be lessffied, the insurance proceeds
shall be applied to the sum; secured by this Security Instrurrent, Wlether or not thffi due, \\ith the excess, if any, paid
to Borrov.er. Such insurance proceeds shall be applied in the order provided for in Section 2.
IfBorrov.er abandons the Property, Lender rmy file, negotiate and settle any available insurance claim and
related matters. If Borrov.er does not respond \\ithin 30 days to a notice from Lender that the insurance carrier has
offered to settle a claim, then Lender rmy negotiate and settle the claim The 30-day period \\ill begin Wlffi the
notice is given. In either evffit, or if Lender acquires the Property lIDder Section 22 or otherwise, Borrov.er hereby
assigns to Lender (a) Borrov.er's rights to any insurance proceeds in an armlIDt not to exceed the armlIDts lIDpaid
illlder the Note or this Security Instrurrent, and (b) any other ofBorrov.er' s rights (other than the right to any refimd
oflIDeamed premium; paid by Borrov.er) illlder all insurance policies covering the Property, insofar as such rights
are applicable to the coverage of the Property. Lender rmy use the insurance proceeds either to repair or restore the
Property or to pay armilllts lIDpaid lIDder the Note or this Security Instrurœnt, Wlether or not thffi due.
6. Occupancy. Borrov.er shall occupy, establish, and use the Property as Borrov.er's principal residence
\\ithin 60 days after the execution of this Security Instrurœnt and shall continue to occupy the Property as Borrov.er' s
principal residffice for at least one year after the date of occupancy, 1.H1less Lender otherwise agrees in witing, vJllch
COnsffit shall not be lIDfeasonably \\ithheld, or 1.H1less extffiuating circUl1Etances exist vJllch are beyond Borrov.er' s
control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrov.er shall not destroy,
damage or invair the Property, allow the Property to deteriorate or commit waste on the Property. \\11ether or not.
Borrov.er is residing in the Property, Borrov.er shall maintain the Property in order to prevent the Property from
deteriorating or decreasing in value due to its condition. Unless it is detennined pursuant to Section 5 that repair or
restoration is not economically feasible, Borrov.er shall profi1Jtly repair the Property if darœged to avoid further
deterioration or darœge. If insurance or condermation proceeds are paid in connection with damage to, or the taking
o( the Property, Borrov.er shall be responsible for repairing or restoring the Property only if Lender has released
proceeds for such purposes. Lender rmy disburse proceeds for the repairs and restoration in a single payrrent or in
a series of progress payrœnts as the \\Qrk is corrpleted. If the insurance or condermation proceeds are not suffici ent
to repair or restore the Property, Borrov.er is not relieved of Borrov.er' s obligation for the COIII'letion of such repair
or restoration.
000394
DocMagic ~ 8O().Q49-1362
www.cJ:x:rrngc.can
Eorro\\cr Initials: -ElL ~ ~
VWC1v1ING-Sinole Farrily-Fcnnie MaelR-edde Mac LNFæv1INSTFUv1S\JT _ MffiS
Form30511/0f Page 6 of 14
1\Y3051.ffi'I11
- -.". '""-....'._.---~...."", -".-", ~ ~~~_.__. L-.-_~___..
Otth"Þ04 n "" 9
. J£Ó08..LU"-i
000395
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
Lender may inspect the interior of the ifil)roveIm1ts on the Property. Lender shall give furro\\er notice at the tirre
of or prior to such an interior inspection specifying such reasonable ŒJSe.
8. BoITower's Loan Application. furro\\er shall be in default if, during the Loan application process,
furro\\er or any persons or entities acting at the direction offurro\\er or with furro\\er' s knoW. edge or consent gave
rroterially false, misleading, or inaccurate information or statemnts to Lender (or failed to provide Lenåer with
material information) in connection with the Loan. Material representations include, but are not limited to,
representations concerning furro\\er's occupancy of the Property as furro\\er's principal residEnce.
9. Protection of Lender's Interest in the Property and Rights Under this Secwity Instnuœnt If (a)
furro\\er fails to perform the covenants and agreeIm1ts contained in this Security Instnnrent, (b) there is a legal
proceeding that might signifi cantly affect Lender's interest in the Property and! or rights illlder this Security Instnnrent
(such as a proceeding in bankruptcy, probate, for conderrnation or forfeiture, for enforceIm1t of a liEn \\hich may
attain priority over this Security.Instrurrent or to enforce law> or regulations), or (c) furro\\er has abandoned the
Property, thEn Lender may do and pay for vÀlatever is reasonable or appropriate to protect Lender's interest in the
Property and rights illlder this Security .Instrurrent, including protecting and!or assessing the value of the Property,
and securing and! orrepairing the Property. Lender's actions can incl ude, but are not limited to: (a) paying any sum;
secured by a lien \\hich has priority over this Security .Instrurrent; (b) appearing in court; and (c) paying reasonable
attorneys' fees to protect its interest in the Property and! or rights illlder this Security .Instrurrent, including its secured
position in a bànkruptcy proceeding. Securing the Property includes, but is not limited to, Entering the Property to
make repairs, change locks, replace or board up doors and VvÙ1dow>, drain water rrom pipes, eliminate building or
other code violations or dangerous conditions, and have utilities turned on or off Although Lender may take action
illlder this Section 9, Lender does not have to do so and is not illlder any duty or obligation to do so. It is agreed that
Lender incurs no liability for not taking any or all actions authorized illlder this Section 9.
Any aJIDilllts disbursed by Lender illlder this Section 9 shall becorre additional debt offurro\\er secured by this
Security I:nstrurrent. Th~ aJIDilllts shall bear interest at the Note rate rrom the date of disburseIm1t and shall be
payable, with such interest, upon notice rromLender to furro\\er requesting payrrent.
If this Security .Instrurrent is on a leasehold, furro\\er shall cofi1)ly with all the provisions of the lease. If
furro\\er acquires fee title to the Property, the leasehold and the fee title shall not rrerge unless Lender agrees to the
rrerger in writing.
10. Mortgage Insurance. IfLenderrequired 1-brtgageInsurance as a condition of rrnking the Loan, furro\\er
shall pay the premiUl11S required to maintain the 110rtgage Insurance in effect. If, for any reason, the 110rtgage
Insurance coverage required by Lender ceases to be available rrom the rmrtgage insurer that previously provided such
insurance and furro\\er was required to make separately designated payrrents toward the premiUl11S for Mortgage
Insurance, furro\\er shall pay the premiUl11S required to obtain coverage substantially equivalEnt to the 110rtgage
Insurance previously in effect, at a cost substantially equivalEnt to the cost to furro\\er of the 110rtgage Insurance
previously in effect, rrom an alternate rmrtgage insurer selected by Lender. If substantially equivalent .Nbrtgage
Insurance coverage is not available, furro\\ef shall continue to pay to Lender the aJIDilllt of the separately designated
payrœnts that \\ere due \\hen the insurance coverage ceased to be in effect. Lender will accept, use and retain these
payrœnts as a non-refimdable loss reserve in lieu of.Nbrtgage Insurance. Such loss reserve shall be non-refimdable,
notwi thstanding the fact that the Loan is ultirrotely pai d in full, and Lender shall not be required to pay furro\\er any
interest or earnings on such loss reserve. Lender can no longer require loss reserve payrn:nts if.Nbrtgage Insurance
coverage (in the aJIDilllt and for the period that Lender requires) provided by an insurer selected by Lender again
becoIœS available, is obtained, and Lender requires separately designated payrrents toward the premiUl11S for
110rtgage Insurance. If Lender required 1-brtgage Insurance as a condition of rrnking the Loan and furro\\er was
required to make separately designated payrn:nts toward the premiwm for 1-brtgageInsurance, furro\\er shall pay
the premiUl11S required to maintain .Nbrtgage Insurance in effect, or to provide a non-refimdable loss reserve, illltil
Lender's requirerœnt for 1-brtgage Insurance ends in accordance with any writtEn agreeIm1t bemæn furro\\ef and
Lender providing for such termination or illltil termination is required by AppliC8ble Law: Nothing in this Section
10 affects furro\\er's obligation to pay interest at the rate provided in the Note.
110rtgage Insurance reirmurses Lender (or any Entity that purchases the Note) for certain losses it may incur
if furro\\er does not repay the Loan as agreed. furro\\er is not a party to the 110rtgage Insurance.
furro\\er hritillis: ßbL (~
Wr'OV1ING-Sinole Farrily-Fænie MaelFfedde Mac LNFrnv1INSTR1v1ENT - MOO
Form 3051 1/01" Page 7 of 14
DocMagic ~ 800-ô49-1362
www.cbcrragc.ccm
Vij3051.m>m
·;;::::~t.~·:::::!~::
fif ·~2:!.::
;fi~ill;~mm~!!m!,~
.--..--..------"-- -..
--- -..-.--.----..
.-.._._----._---_._---_.__._--~._~..-. - ,. - -- - ---,-...------>.-
0921049 000396
MOrtgage insurers evaluate their total risk on all such insurance in force rrom tirre to tirre, and rmy enter into
agreem:nts with other parties that share or rmdify their risk, or reduce losses. These agreem:nts are on term; and
conditions that are satisfactory to the IIDrtgage insurer and the other party (or parties) to these agreeIœnts. These
agreem:nts may reqlÙre the IIDrtgage insurer to rmke payrrmts using any source of funds that the IIDrtgage insurer
rmy have available (\\hich rmy include funds obtained rrom1\1.)rtgage Insurance premium;).
As a result of these agreem:nts, Lender, any purchaser of the Note, another insurer, any reinsurer, æyother
entity, or any affiliate of any of the foregoing, rmy receive (directly or indirectly) ammnts that derive rrom (or might
be characterized as) a portion offurro\\ef' s payrrmts for 1\1.)rtgage Insurance, in exchange for sharing or rmdifying
the nnrtgage insurer's risk, or reducing losses. If such agreem:nt provides that an affiliate of Lender takes a share
of the insurer's risk in exchange for a share of the premium; paid to the insurer, the arrangerrent is often terrœd
"captive reinsurance." Further:
(a) Any such agreerœnts will not affect the amoWlts that Borrower has agreed to pay for Mortgage
Insw"ID1œ, or any other terms of the Loan. Such agreerœnts will not increase the amoWlt Bon'Ower will owe
for MDl1gage Insurance, and they will not entitle Borrower to any refWld
(b) Any such agreerœnts will not affect the rights BorTOwer has - if any - with respect to the Mortgage
Insw1Ulce Wlder the Homeowners Protection Act of 1998 or any other law. These rights may include the right
to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the
MDl1gage lnsm1Ulce terminated automatically, and! or to reœive a reflUJd of any Mortgage Insurance premiums
that were Wleamed at the tirœ of such cancellation or termination.
11. Assigmœnt of Miscellaneous Proceeds; Forfeitm-e. All Miscellaneous Proceeds are hereby assigned to
and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
if the restoration or repair is economically feæible and Lender's security is not lessened. During such repair and
restoration period, Lender shall have the right to hold such Miscellaneous Proceeds tmtil Lender has had an
opportunity to inspect such J:>roperty to ensure the \\Ork has been coIII>leted to Lender's satisfaction, provided that
such inspection shall be tmdertaken proIII>tly. Lender rmy pay for the repairs and restoration in a single disburserrent
or in a series of progress payrrmts as the \\Ork is coIII>leted. Unless an agreem:nt is made in writing or Applicable
Law reqlÙres interest to be paid on such Miscellaneous Proceeds, Lender shall not be reqlÙred to pay Borro\\ef any
interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
Lender's security \\OuId be lessened, the Miscellaneous Proceeds shall be applied to the SUIΠsecured by this Security
Instrurœnt, \\bether or not then due, with the excess, if any, paid to Borrov.er. Such Miscellaneous Proceeds shall
be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
applied to the sum; secured by this Security Instrurn:nt, \\bether or not then due, with the excess, if any, paid to
Borro\\ef.
In the event of a partial taking, destruction, or loss in value of the Property in \\hich the fair rmrket value of
the Property imrrediately before the partial taking, destruction, or loss in value is equaI to or greater than the arrotmt
of the SUIΠsecured by this Security Instrurrent imrrediately before the partial taking, destruction, or loss in value,
tmless Borro\\ef and Lender otherwise agree in writing, the sum; secured by this Security Instrurrent shall be reduced
by the arrolIDt of the Miscellaneous Proceeds multiplied by the follov.ing rraction: (a) the total aImlIDt of the sum=;
securedimrrediately before the partial taking, destruction, or loss in value divided by (b) the fair rmrketvalueofthe
Property imrrediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrov.er.
In the event of a partial taking, destruction, or loss in value of the Property in \\hich the fair rmrket value of
the Property imrrediately before the partial taking, destruction, or loss in value is less than the aImlIDt of the SUIŒ
secured imrrediately before the partial taking, destruction, or loss in value, tmless Borrov.er and Lender otherwise
agree in writing, the Miscellaneous Proceeds shall be applied to the SUIŒ secured by this Security Instrurœnt \\bether
or not the SUIΠare then due.
If the Property is abandoned by Borrov.er, or if, after notice by Lender to furrov.er that the Opposing Party (as
defined in the next sentence) offers to rmke an award to settle a claim for damages, Borro\\ef fails to respond to
Lender v.ithin 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
Proceeds either to restoration or repair of the Property or to the SUIŒ secured by this Security Instrurœnt, \\bether
PorrO\\ef Initials: -ßlL ~ H_
WYC1v1ll\G-Snde Farrily-Falnie MaelR'edde Mac LNFCA\t1INSTR1v1ENT - MERS DocMagic ~ 800-649-1362
Form 3051 1/0'1" Page 8 of 14 www..dx:tmg'c.can
Wf3051.ffi'l11
__ _ n~_~ ____
092:l049
000397
or not thoo due. "Opposing Party" rreans the third party that 0\.\eS Borro~r Miscellaneous Proceeds or the party
against \\horn Borro~r has a right of action in regard to Miscellaneous Proceeds.
Borro~r shall be in default if any action or proceeding, \\hether civil or criminal, is begun that, in Lender's
judgrrent, could result in forfeiture of the Property or other rmterial irqJairrœnt of Lender' s interest in the Property
or rights under this Security.Instn.Jrnmt. Borro\\ef can cure such a default and, if acceleration ha<; occurred, reinstate
a<; provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in tender's
judgrrent, precludes forfeiture of the Property or other rmterial irqJairrœnt of Lender' s interest in the Property or
rights under this Security.Instn.Jrnmt. The proceeds of any awu-d or claim for darmges that are attributable to the
irqJairrœnt of Lender' s interest in the Property are hereby assigned 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.
U. Bon"Ower Not Released; Forbearance By Lender Not a Waiver. Extension of the tiIre for payrœnt or
m:xlification of aI1XJrtization of the SI.JIIE secured by this Security Instrurœnt granted by Lender to Borro~r or any
Successor in Interest ofBorro\\ef shall not operate to release the liability ofBorro\\ef or any Successors in Interest
ofBorro~r. Lender shall not be required to cornrrence proceedings against any Successor in Interest ofBorro\\ef
or to refuse to extood tiIre for payrœnt or otherwise rmdify aI1XJrtization of the sum; secured by this Security
Instrurrent by reason of any demand made by the original BorrO\\ef or any Successors in Interest ofBorro~r. Any
forbearance by Lender in exercising any right or rerredy including, without limitation, Lender's acceptance of
payrrents from third persons, entities or Successors in Interest ofBorro\\ef or in aI1XJunts less than the aI1XJunt thoo
due, shall not be a waiver of or preclude the exercise of any right or rerredy.
13. Joint and Several liability; Co-signel's; Successors and Assigns Bound Borro~r covooants and agrees
that Borro~r' s obligations and liability shall be joint and several. Ho\\eVer, any Borro\\ef \\ho co-signs this Security
.Instn.Jrnmt but does not execute the Note (a" co-signer"): (a) is co-signing this Security Instrurœnt only to rmrtgage,
grant and convey the co-signer's interest in the Property under the term; of this Security Instn.nrent; (b) is not
personally obligated to pay the SI.JIIE secured by this Security Instrurœnt; and (c) agrees that Lender and any other
Borro~r can agree to extood, rmdify, forbear or make any accommdations with regard to the term; of this Security
Instrurrent or the Note Vvithout the co-signer's consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower \\ho assurœs Borro~r's
obligations lIDder this Security Instn.nrent in writing, and is approved by Lender, shall obtain all ofBorro~r' s rights
and benefits lIDder this Security Instn.nrent. Borro~r shall not be released fromBorro~r' s obligations and liability
lIDder this Security Instrurrent unless Lender agrees to such release in writing. The COvooants and agreerrents of this
Security.Instn.Jrnmt shall bind (except a<; provided in Section 20) and benefit the successors and assigns of Lender.
14. Loan Olarges. Lender nny charge Borro~r fees for services performxl in cormection Vvith Borro~r' s
default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrurœnt,
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 Instrurœnt to charge a specific fee to Borro~r shall not be construed
a<; a prohibition on the charging of such fee. Lender nny not charge fees that are expressly prohibited by this Security
Instrurrent or by Applicable Law:
If the Loan is subj ect to a law \\hich sets maximnn loan charges, and that law is finally interpreted so that the
interest or other loan charges collected or to be collected in cormection Vvith the Loan exceed the permitted limits,
thoo: (a) any such loan charge shall be reduced by the aI1XJunt necessary to reduce the charge to the permitted limit;
and (b) any sum; already collected from Borro~r \\hich exceeded pern]itted limits will be refunded to Borro~r.
Lender nny choose to make this refund by reducing the principal omxI under the Note or by rrnking a direct payrœnt
to Borro\\ef. If a refund reduces principal, the reduction Vvill be treated a<; a partial prepayrœnt Vvithout any
prepayrrent charge (\\hether or not a prepayrœnt charge is provided for lIDder the Note). Borro~r' s acceptance of
any such refund made by direct payrrent to Borro~r Vvill constitute a waiver of any right of action Borro~r might
have arising out of such overcharge.
15. Notices. All notices givoo by Borro\\ef or Lender in cormection with this Security Instrurœnt must be in
writing. Any notice to Borro~r in connection with this Security Instrurœnt shall be deerœd to have been givoo to
Borro~r \\hoo mailed by first class mail or \\hoo actua1ly delivered to Borro~r' snotice address if soot by other
rrean.s. Notice to anyone Borro\\ef shall constitute noti ce to all Borro\\ers unless Appli cable Lawexpressly requires
furro\~ Initials: L -.1"- H
WfO"v1/N3-Snqle Farrily-Fænie Mae/R-edde Mac LNFCRv1/NSTFUvIENT _ MER:;
Form30511/0f Page 9 of 14
\\y3051.nun
r.:;';i;:¡:::;!~j:::::~:
8~i~:;~illlli1;¡*lj
DocMagic ~ 800-649-1362
WWW·ck:x:rmgc.ccm
m~¡jI;lr:ir:r~~1~
- ._"...-.',~-.-.-._.
. .--,._-~....
-~-'..'_._.."-----,~_.__.., - .--. -,- --. -.-
.,.- .."---.. .
J)+{)")o-1l 04\ 9
"fJt)<G..!J.» q
000398
otherwise. The notice address shall be the Property Address tmless Borrov.er has designated a substitute notice
address by notice to Lender. Borrov.er shall pro!l1)tly notify Lender of Borrov.er' s change of address. If Lender
specifies a procedure for reporting Borrov.er s change of address, then Borrov.er shall only report a change of address
through that specified procedure. There nny be only one designated notice address mder this Security Instru:rœ.nt
at anyone tiIre. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's
address stated herein tmless Lender has designated another address by notice to Borrov.er. Arr¡ notice in coÎmection
with this Security Instrurrent shall not bedeerœd to have been given to Lender mtil actually received by Lender.
If any notice required by this Security Instnnrent is also required mder Applicable Law, the Applicable Law
requirerœ:nt -will satisfy the corresponding requirerœ:nt mder this Security Instnnrent.
16. Governing Law; Severability; Rules of ConstmctiOIL This Security Instnnrent shall be governed by
federal law and the law of the jurisdiction in Wrich the Property is located. All rights and obligations contained in
this Security Instrurrent are subject to any requirerœ:nts and limitations of Applicable Law: Applicable Law might
explicitly or i!l1)licitly allow the parties to agree by contract or it might be silent, but such silence shall not be
construed as a prohibition against agreerœnt by contract. In the event that any provision or clause of this Security
Instrurrent or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security
Instrurrent or the Note v.hich can be given effect -without the conflicting provision.
As used in this Security Instnnrent: (a) \\Ords of the rrosculine gender shall rœan and include corresponding
neuter \\Ords or \\Ords of the feminine gender; (b) \\Ords in the singular shall rœan and include the plural and vice
versa; and (c) the \\Ord "nny" gives sole discretion without any obligation to take any action
17. BoITOwer's Copy. Borrov.er shall be given one copy of the Note and of this Security Instrurœnt.
18. Transfer of the Property or a Beneficial Interest in BolTOwer. As used in this Section 18, "Interest in
the Property" rreans any legal or beneficial interest in the Property, including, but not limited to, those beneficial
interests transferred in a bond for deed, contract for deed, installrœ:nt sales contract or escrowagreerœ:nt, the intent
of v.hich is the transfer of title by Borrov.er at a future date to a purchaser.
If all or any part oftht;: Property or any Interest in the Property is sold or transferred (or ifBorrov.er is not a
natural person and a beneficial interest in Borrov.er is sold or transferred) without Lender's prior VvrÍtten consent,
Lender nny require imrrediate payrœnt in full of all sums secured by this Security Instrurœnt. Hov.ever, this option
shall not be exercised by Lender if such exercise is prohibited by Applicable Law:
If Lender exercises this option, Lender shall give Borrov.er notice of acceleration The notice shall provide a
period of not less than 30 days rrom the date the notice is given in accordance with Section 15 within Wrich Borro\\er
must pay all sums secured by this Security Instnnrent. IfBorrov.er fails to pay these sums prior to the expiration of
this period, Lender nny invoke any retredies penritted by this Security Instnnrent without further notice or derænd
on Borro\\er.
19. Bon"Ower's Right to Reinstate After AcceleraôolL IfBorrov.er rœets certain conditions, Borrov.er shall
have the right to have enforcerœ:nt of this Security I:nstrurœnt discontinued at any tiIre prior to the earliest of (a)
five days before sale of the Property pursuant to any pov.er of sale contained in this Security Instrurœnt; (b) such
other period as Applicable Law might specify for the temination of Borrov.er' s right to reinstate; or (c) entIy of a
judgrœnt enforcing this Security Instnnrent. Those conditions are that Borrov.er: (a) pays Lender all sums v.hich
then v..ould be due mder this Security I:nstrurœnt and the Note as if no acceleration had occurred; (b) cures any default
of any other covenants or agreerœ:nts; ( c) pays all expenses incurred in enforcing this Security I:nstrurœnt, including,
but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the
purpose of protecting Lender's interest in the Property and rights mder this Security Instru:rœ.nt; and (d) takes such
action as Lender nny reasonably require to assure that Lender's interest in the Property and rights mder this Security
Instrurrent, and Borrov.er' s obligation to pay the sum; secured by this Security Instrurœnt, shall continue lll1changed.
Lender nny require that Borrov.er pay such reinstaterœ:nt sums and expenses in one or rmre of the following foI'l1E,
as selected by Lender: (a) cæh; (b) mmey order; ( c) certified check, bank check, treasurer's check or cashier's check,
provided any such check is draWl upon an institution v..hose deposits are insured by afederal agency, instrurrentality
or entity; or (d) Electroni c Fmds Transfer. Upon reinstaterœ:nt by Borro\\er, this Security Instrurrmt and obligations
secured hereby shall remain fully effective as if no acceleration had occurred. Hov.ever, this right to reinstate shall
not apply in the case of acceleration mder Section 18.
BmO\\eT Initials: ~ t i-)
Wfav1II\G-SinQle Farrily-Fa1nie MaelR"edde Mac LNFCRv1INSTRXv1ENT - MER3
Form30511/0f Page 10 of 14
DocMagic ~ 800-649-1362
~cbcrraçjc.can
V,ý3051.=
- u_._.________ ___ .___~_____~_"._____.
"----.-.--,"--
0321049
000399
20. Sale of Note; Oumge of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note
(together with this Security lnstruJm1t) can be sold one or rmre tirœs without priornotice to Borro\\er. A sale might
result in a change in the entity (knOWl as the "Loan Servicer") that rollects Periodic Payrœnts due under the Note
and this Security lnstruJm1t and performs other rmrtgage loan servicing obligations under the Note, this Security
Instnnrent, and Applicable Law There also might be one or rmre changes of the Loan Servicer unrelated to a sale
of the Note. If there is a change of the Loan Servi cer, Borro\\er will be given \\fÎtten notice of the change Wiich will
state the narre and address of the new Loan Servicer, the address to vJrich payrœnts should be rœde and any other
infonmtÏon RESP A requires in ronnection with a notice of transfer of servicing. If the Note is sold and thereafter
the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the rmrtgage loan servicing obligations
to Borro\\er will rermin with the Loan Servicer or be transferred to a successor Loan servicer and are not 8SSI.IIred
by the Note purchaser unless otherwise provided by the Note purchaser.
Neither Borro\\er nor Lender may rornrn::nce, join, or be joined to any judicial action (as either an individual
litigant or the rrerroer of a class) that arises from the other party's actions pursuant to this Security Instnuœnt or that
alleges that the other party has breached any provision of, or any duty ovœd by reason of, this Security Instnuœnt,
until such Borro\\er or Lender has notified the other party (with such notice given in rorrpliance with the requirerœnts
of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such
notice to take rorrective action. If Applicable Law provides a tirre period vJrich nmst elapse before certain action
can be taken, that tirre period will be deemrl to be reasonable for purposes of this paragraph. The notice of
acceleration and opportunity to cure given to Borro\\ef pursuant to Section 22 and the notice of acceleration given
to Borro\\ef pursuant to Section 18 shall be deerred to satisfy the notice and opportunity to take rorrective action
provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances
defined as toxic or hazardous substances, pollutants, or \\-3Stes by FnviroI1ITß1talLaw and the following substances:
gasoline, kerosene, other flammable or toxic petroleum products, toxic peSticides and herbicides, volatile solvents,
materials rontaining asbestos or forrrn1dehyde, and radioactive materials; (b) "FnviroI1ITß1talLaw' rreans federal
law; and law; of the jurisdiction v.here the Property is located that relate to health, safety or enviroI1ITß1tal protection;
(c) "Fnvironmental Oeanup" includes any response action, reIredial action, or rermval action, as defined in
FnviroI1ITß1tal Lavr, and (d) an "FnviroI1ITß1tal Condition" rreans a ronditionthat can cause, rontribute to, or
otherwise trigger an FnviroI1ITß1tal Oeanup.
Borro\\er shall not cause or permit the presence, use, disposal, storage, or rei ease of any Hazardous Substances,
or threaten to release any Hazardous Substances, on or in the Property. BorrO\\er shall not do, nor allow anyone else
to do, anything affecting the Property (a) that is in violation of any FnviroI1ITß1talLaw, (b) vJrich creates an
FnviroI1ITß1tal Condition, or (c) vJrich, due to the presence, use, or release of a Hazardous Substance, creates a
rondition that adversely affects the value of the Property. The preceding tv.o sentences shall not apply to the
presence, use, or storage on the Property of srrnll quantities of Hazardous Substances that are generally recognized
to be appropriate to norrrn1 residential uses and to rmintenance of the Property (including, but not limited to,
hazardous substances in ronsurrer products).
BorrO\\er shall prorrptly give Lender \\fÎtten notice of (a) any investigation, claim, demand, laW3UÎt or other
action by any governrœntal or regulatory agency or private party involving the Property and any Hazardous Substance
or Fnvironrrx::ntall..aw of vJri ch Borro\\ef has actual kno\\ledge, (b) any FnviroI1ITß1tal Condition, including but not
limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any
rondition caused by the presence, use or release of a Hazardous Substance vJrich adversely affects the value of the
Property. IfBorro\\er lemns, or is notified by any goverrurental or regulatory authority, or any private party, that
any rermval or other rerœdiation of any Hazardous Substance affecting the Property is n~, Borrov,er shall
prorrptly take all n~ reIredial actions in accordance with FnviroI1ITß1talLaw Nothing herein shall create any
obligation on Lender for an FnviroI1ITß1tal Oeanup.
furro\\ef Initials: 31L- r. ~
WfC1v1ING-SinQle Farrily-Fcnnie Mae/R-edde Mac LNFCRv1INSTR.Jv1ENT - MffiS
Form 3051 1/01" Page 11 of 14
DocMagic ~ 800-649-1362
www.rkx:rragc.can
\\y3051.=
~@;ili~¡~¡m
.. .-...............
--..-..-......-..
.... -.. .~....~._~
0921049
000400
NON-UNIFORM COVENANTS. Borrov.er and Lender further covenant and agree as follows:
22. Acceleration; Rerœdies. Lender shaD give notice to BoITOwer pl;or to acceleration following
BoITOwer's breach of any covenant or agreerœnt in this Secw;ty fustn.uænt (but not prior to acceJeration muleI'
Section 18 unless Applicable ÙlW provides otherwise). The notice shall specify: (a) the default; (b) the action
required to cure the default; (c) a date, not less than 30 days from the date the notice is given to BoITOwer, by
which the default nwst be cured; and (d) that failure to cure the default on or before the date specifiea in the
notice may result in acceJeration of the sums ~ured by this Security Instrwœnt and sale of the Propeliy. The
notice shall fwiller infonn BolTOwer of the I;ght to reinstate after acceleration and the right to bring a court
action to assert the non-existence of a default or any other defense of BoITOwer to acceleration and sale. If the
default is not cwro on or before the date specified in the notice, Lender at its option may require ilIllœdiate
payment in full of all SllIl1S ~ured by this Security Instrwœnt without further demand and may invoke the
power of sale and any other remedies pennitted by Applicable law. Lender shall be entitled to collect all
expenses incUJTed in pursuing the retœdies provided in this Section 22, including, but not limited to, reasonable
attorneys' fees and costs of tide evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to BoITOwer and to the
person in possession of the Property, if different, in accordance with Applicable law. Lender shall give notice
of the sale to Bon'Ower in the manner provided in Section 15. Lender shall publish the notice of sale, and the
Pr'Operty shall be sold in the manner prescribed by Applicable law. Lender or its designee may purchase 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, reæonable attorneys' fees; (b) to all S1IIŒ ~ured by this Secw;ty
Instnuœnt; and (c) any excess to the person or persons legally entitled to it.
23. Release. Upon payrrent of all SI..IIŒ secured by this Security Instrurœnt, Imder shall release this Security
I:nst:rurrent. Borrov.er shall pay any recordation costs. Imder rmy charge Borrov.er a fee for releasing this Security
I:nst:rurrent, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted
lll1der Applicable Law ,',
24. Waivers. Borrov.er releases and waives all rights lll1der and by virtue of the horœstead exefilJtion laws
of \\yarning.
furro~ Initials: JJJt ~ µ
WfCMII\G-Snde Farrily-~nie MaelR-edde Mac LNFCRv1INSTRJv1ENT - MffiS
Form 3051 1/0r Page 12 of 14
DocMagic ~ 800Q49-1362
WMv.cfx:rmgc.can
\\y3051.=
,. ..~ ,,_......,........... .". .~.,...~-- '~~.;,....---...........-... -. -....". - -~-"'. ~- --~.- -'.. .~......................,.-..
",.O-",...___~.. ."
.,. ., .., >_.~.........."........._..,._~ ~~'_""_,",.'-'" ........-..--...- ~. '._'~", ,.,..-..,...,..........
0921049
000401
BY SIGNING BELOW; Borro\œf accepts and agrees to the term; and covenants contained in this Security
Instrurrent and in any Rider executed by Borro\œf and recorded Vvith it.
~tÞb
JAKE HCO
(Sem)
-Borro\\er
IJt/':ro~ -&rio~
,
,
(Sem)
- Borro\\er
(Sem)
-Borro\\ef
(Sem)
-Borro\œf
(Se8l)
-Borro\\ef
Witness:
Witness:
WYO'v1IN3-SnqJe Fanily-Fannie Mae'Freddie Mac lJNJFæv1INSlRJrv1ENr - MERS
Form 3051 1/01' Page 13 of 14
DocMagic ~ 8(J().(549-1362
www..cXx:rragc.can
\\ý3051,=
{]¡~¡m¡~::
··_·_'~'.."'L"__.
,...~...........&. .
. --~.~ -~""""""'-"-'--~.~-'_.._-
092104:9
000402
State of \\yarning
CmIDty of
LINCOLN
)
) ss.
)
The foregoing instruIrent was acknowedged before Ire by BlAKE HOOPES, KEILI
HOOPES, HUSBAND & WIFE
this 2ND
day of
AUGUST, 2006
Witness my hand and official seal.
ROXIE JENKINS NOTARY PUBLIC
COUNTY OF ~. STATE OF
LINCOLN ~ WYOMING
j MY COMMISSION EXPIRES APRIL 4. 2010
~ -
I _~
(..,-, ~.
. V Notmy Public
-~x/e c/{:/lfiI15
Print or Type Narœ
(Seal)
11y commission expires: 1/1/;;' () I Ó
\>.0,
'K~
VWC1\llING-Snde Farrily-Falnie Mae/R'eddie Mac UNlFCHv1INSTRXv1ENT - MIR3
Form30511/0f Page 14 of 14
DocMagic ~ 800<;49-1362
www..r:bcrragc.can
V,y305Lm>m
00"2'" PL''19
'"' "8..!.. V 'i1'
000403
,
,
CONDOMINIUM RIDER
LOAN NO. 129934127
THIS CONDOMINIUM RIDER is made this 2ND day of AUGUST, 2006, and is
incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed
(the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's
Note to
1ST BANK
AFTON
date and covering the Property described in the Security Instrument and located at:
(the "Lender") of the same
83542 US HIGHWAY 892.1
AFTON, WY 83110
[Property Address]
The Property includes a unit in, together with an undivided interest in the common elements of, a condominium
project known as:
THE CONDOS AT VALLI-VU
[Nan¡e of Condominium Projectl
(the "Condominium Project"). If the owners association or other entity which acts for the Condominium Project
(the "Owners Association") holds title to property for the benefit or use of its members or shareholders, the
Property also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of
Borrower's interest.
CONDOMINIUM COVENANrS. In addition to the covenants and agreements made in the Security
Instrument, Borrower and Lender further COvenant and agree as follows:
A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the
Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i) Declaration or any
other document which creates the Condominium Project; (ii) by-laws; (iii) code or regulations; and (iv) other
equivalent documents. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the
Constituent Documents.
B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance
carrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which
provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire,
hazards included within the term "extended coverage," and any other hazards, including, but not limited to,
earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the provision in Section
3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property;
MULTISTATE CONDOMINIUM RIDER - Single
FNMA3140 (10/00)
Family . Fannie MaelFreddie Mac
Page 1 of2
UNIFORM INSTRUMENT
FORM 3140 1/01
:¡:miliiit~~~ff!
i:{:¡ij¡¡¡¡¡¡¡¡¡¡m
. ...-.....,.<&L::,·,-.·.~,~·~.~·_·'-'-'.L~....'......·.....·, .__....~._
"'.....-...~.,._" .."--<".",,,"",,...
.......,",...-~.."",....=,.'-,,-..~.-,._-
0:921049
000404
and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed
satisfied to the extent that the required coverage is provided by the Owners Association policy.
What Lender requires as a condition of this waiver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by
the master or blanket policy.
In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to
the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned
and shall be paid to Lender for application to the sums secured by the Security Instrument, whether or not then
due, with the excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the
Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of
coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to
Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the
unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be
paid to the Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as
provided in Section 1I.
E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior
written consent, either partition or subdivide the Property or consent to: (i) the adandonment or termination of
the Condominium Project, except for abandonment or termination required by law in the case of substantial
destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any
amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender;
(iii) termination of professional management and assumption of self-management of the Owners Association; or
(iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the
Owners Association unacceptable to Lender.
F. Remedies. If Borrower does not pay condominium dues and assessments when due, then Lender may pay
them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower
secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts
shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice
from Lender to Borrower requesting payment.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Condominium
Rider.
~~ ~~~~! t:ll Ikpøo
BLAKE HOOPES KELLI HOOPES
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
[Sign Original Only]
MULTISTATE CONDOMINIUM RIDER . Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
FNMA3140 (10/00)
Page 2 of 2
FORM 3140 1/01