HomeMy WebLinkAbout921539
RetumTo:
fIRST INTERSTATE BANK
P.O. BOX 40. CASPER. WY
82602- 0040
J>repared :By:
JOSEPHINE M DEPAOLO
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MORTGAGE
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DEFlNITIONS
RECEIVED 8/21/2006 at 421 PM
RECEIVING:# 921539
BOOK: 631 PAGE: 32
JEANNE WAGNER
LINCOLN COUNTY ClERK, KEMMERER, WY
Words used .in .multiple .sections of this document .are defined below .and other words .are defined .in
Sections 3, 11, 13, 18,20 .and 21. Certain rules regarding the usage of words used.in this document.are
JÙSo provided .in Section 16.
(A) "Security Instrument" .means1hìs document, which is Llated August 18. 2006
together with all Riders to this document.
(B) ''Borrower'' is DA VID RUT-HARDT and VALERJE RUT-HARDT, -HUSBAND AND WIfE
I
!
:Borrower is the .mortgagor under this Security 1nstmment.
(C) "Lender" is fIRST I NTERST ATE BANK
,
~r is 11 A CORPORATION
! organized .and existing under the laws of
l~RUTHARDl1JAVID
¡WYOMING-Single Family-FBnnie MAe/Frerldie Mac UNIFORM JNSTRUMENT
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_ -£)(WY) (0005)
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VMf' MDRTGAGE FDRMS - (800)52 1"7291
STATE OF MONTANA
form 3051 1/01
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000033
lender's Jiddress is fJO BOX n095. JACKSON. WY 83002
lender is !he IDOrtg2gee under this Security 1nstmment.
(D) "Note" .means1hepromissorynote.signed by.Borrower.and dared August 18. 20Q6
Tl1eNotestates1hatBorrower owes lender Two -Hundr'€d four Thousand Or1€-Hundr'€d
Fifty and nollOO Dollars
(U.s. $204 .150 .00 ) plus IDterest. .Borrower has promised to pay this debt ID regular J>eriodic
Payments.and to pay !he debt ID full not later than S€pt'€mbt: r 1. 2036
(E) "Property".means:the property 1hat is described below under !he l1ead.ing "Transfer of Rights ID :the
.Property. "
(F) "Loan".means 1he debt -evidenced by !he Note, plus IDterest, .any prep4yment cl1arges .and late cl1arges
rlue under !he Note, .and 1111 .sums rlue under this Security 1nstmment,plus IDterest.
(G) ''Riders''.means.all Riders to 1his Security lnstrument 1h1it are executed by.Borrower. The following
Riders Me to be executed by .Borrower Icheck box JlS .applic4ble]:
D AdjustableR4te Rider D Condomininm Rider 0 Second Home Rider
O.BâlloonRider 0 Pl4nned UJ1ÏtDevelopmentRid.er 0.1-4 FllIDily Rider
DVARider O.Biweekly J>4yment Rider 0 Other(s) Ispecify]
(H) "Applicable Law" .meansßl1 .controlling .applicable federal, state .and local .statutes, regulations,
ordinances .and ::uimini~trative rules .and orders (that .have !he effect of Jaw) JlS well liS .allllpplicable :final,
.Jlon-.appeal2.ble judicial opinions.
(I) "Commnnity Association Dues, Fees, .and Assessments" .means .all dues, fees, JlSsessments.and other
.charges that Me .:imposed on .Borrower or !he .Property by 11 .condnmininm liSSOciation, 110meowners
liSSOciation or .similar organization.
(J) ''Electronic Funds Tr1U1Sfer" .means .any mmsfer of :funds, other than 4 transaction originated by
.check, ill.aft, or .similar paper instrument, which is :initiated through .an electronic termiml, telephonic
.instrument, .computer, or magnetic tape .so liS to order, .instruct, or .authorize 11 tïmm~i ¡¡ 1 institution to debit
or .credit .an .account. Such tenn .includes, but is not limited to, pOIDt-of-5<Ùe transfers, .automated teller
m¡¡~hine :t:ransß.ctions, mmsfers :initiated by telephone, wire tr.ansfers, .and .automated dearinghouse
transfers.
(K) "Escrow Items" .means !hose items that Me described ID Section 3.
(L) "MisœIlaneous .Proceeds" means .any .compensation, .settlement, 11ward of illunages, or proceeds p1Ùd
by.any third party (other than insur.ance proceeds p1Ùd under the .cover2ges described ID Section 5) for: (i)
illunage to, or destruction of, the .Property; (ii) .ccmn¡>mn¡¡tion or other t2.king of 1111 or..any part of the
.Property; (iii) .convey.ance ID lieu of con(iemmtion; or (iv) misrepresentations of, or omissions .as to, the
value .andlor .condition of the Property.
(M) "Mortgage lnsurADce" .means inSllT¡¡n~e protecting Lender .against the nonp.ayment of, or default on,
!he Lo.an.
(N) "Periodic P~yment" .means !he regularly .scheduled .amount due for (i) principal.and IDterest under !he
Note, plus (ii).any .amounts under Section 3 of this Security lnstnunent.
(0) "RESPA" means !he Real Estate Settlement .Procedures Act (12 D.S.C. Se.ction260l et seq.).and its
implementing regul.ation, Regulation X (24 C.P.R. J>.art 3500), .as they.might be am¡>nn¡>d from time 10
time, or .any .additional or .successor legislation or regul.ation 1h1it governs !he .same .subject.matter. As used
ID this Security lnstrument, "RESPA" refers to .all requirements.and restrictions that Me imposed ID regard
10 .a "federâlly re]ated mortg2ge loan "even jf!he Loan does not qualify liS 11 "federâlly related .mortgage
lo.an" underlŒSPA.
47RUT-HARDTDA VID
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(P) "Sucœssor in lnterest of .Bon-ower" means .any party that -has taken title to the Property, whether or
:not that party -has 1:\Ssumed Borrower's obligations under the Note .and/or this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security lns!rument ..secures 10 Lender: (i) the repayment of the Loan, .and .all renewals, extensions .and
.modiñcations of the Note; and (ii) the perfonrumce of Borrower's covenants and .agreements under this
. Security Instrument and the Note. For this pUIpose, .Borrower does .hereby .mortgage, grant and .convey to
lender .and Lender's .sucCessors and JlSsigns, with power of sale, the following ílescribed property located
.in the COUNTY of 11 NCOLN
IType of:Recor.ding Jurisdiction] !Name of Recor.ding Jurisdiction]
lOT 129 Of STAR VALlEY RANC-H P1A1 6. -LINCOLN COUNTY. WYOMING AS
DESCRJBED ON 1-HE OffICIAL PLA1 fIlED ON JUNE 7. 1971 AS INSTRUMENT NO.
431710 Of 1-HE RECORDS Of 1HE lINCOLN COUNTY CLERK.
P.arcel ID Number: 12- 3518- 30-4- 01- 074.00
370 VISTA EAST DR
STAR VALlEY RANC-H
("Property Address"):
which currently has the 4ddress of
[Street]
[City] , Wyoming 83127 2ip Code]
TOGETHER WITH .all the.improvements :now or .hereafter erected on !he property, .and all
easements, .appurtenances, and :fixtures :now or .hereafter a part of the property. All replacements and
.additions .shall .also be .covered by this Security Instrument. All of the foregoing is referred to .in this
.security Instrument JlS the "Property. "
BORROWER COVENANTS that .Borrower is Jawfully seised of the estate .hereby conveyed and has
the "right 10 .mortgage, grant and convey the Property .and that the Property is unencumbered, except for
encumbrances of record. .Borrower w.a:rrams .and will defend generally the title to the Property .against all
.claims and ilp.m:lnil~, subject to.any encumbrances of Ie cord.
THIS SECURITY INSTRUMENT combinesunifonn covenants for :national use and :non-unifonn
.covenants w.ith limited vm:iations by jurisdiction to constitute a unifonn security instrument covering real
property .
UNIFORM COVENANTS. .Borrower .and Lender covenant and agree JlS follows:
1. :Payment of .Principal, lnterest, Escrow Items, Prepayment Charges, .and Late Charges.
Borrower.shall pay w.hen due the principal of, and .interest on, the debt evidenced by the Note and .any
prepayment .charges and late .charges due under the Note. .Borrower.shall also pay funds for Escrow ltems
pursuant to Section 3. Payments 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 JlS payment under the Note or this
47RUTHARDTDA VID
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0921539
000035
Security 1nstrument is returned 10 Lender unpß.id, Lender .may require 1hat.any or.all .subsequent payments
due under the Note .and this Security lnstrument be.made :in one or .more of the following forms, JlS
$elected by Lender: (a) £aSh; (b) .money order; (c) .certified !:heck, hank !:heck, 1reasurer's !:heck or
basmer'.s check, provided .any .such check is drawn upon .an institution whose deposits Me :insured by 11
:federal agency,:instrumen1:ality, or entity; or (d) Electronic Funds Transfer.
I i Payments Me deemed received by Lender when received lit the location dp.¡;i,V1:1tp.d:in the Note or at
.such other ]ocation JlS.may be rlesignated by Lender in accordance with the notice provisions in Section 15.
i.ender .may return .any payment or partial payment jf the payment or partial payments are insufficient 10
bring theLo.an !:urrent. Lender .may accept .any payment or paniaJ. payment insufficient 10 bring the Loan
.current, wrthout waiver of .any rights .hereunder or prejudice 10 its rights 10 refuse .such payment or partial
payments :in the future, but Lender is not obligated 10 lIpply such payments lit the time .such payments Me
liCCepted. 1f each Periodic Payment is applied JlS of its .scheduled due date, then Lender need not pay
:interest on unapplied funds. Lender:may hold .such unapplied funds until Borrower .makes payment 10 bring
the Loan current. 1f .Borrower does not do so within a reasonable period of time, Lender shall either apply
.such funds or return them to Borrower.1f not lIpplæd earlier, such .:funds will be lIpplied to the outstanding
principal balance under the Note .immediately prior to foreclosure. No offset or claim which .Borrower
:might have now or :in the future against Lender shall relieve Borrower from making payments due under
the Note .and this Securitylnstrument or performing the !:ovenanrs .and agreements secured by this Security
lnstrument.
2. Application of Payments or J>roceeds. Except liS otherwise described :in this Section 2, .all
payments accepted .and lIpplied by Lender shall be .applied :in the following order of priority: (a) :interest
due under the Note; (b) principal due under the Note; (c) lUllOunts due under Section 3. Such payments
shall be applied 10 each Periodic Payment:in the order:in which it became due. Any rp.m~ining lUllounts
shall be lIpplied first to late cl1arges, .second 10 .any other lUllOunts due under this Security 1nstrument, .and
then 10 reduce the principal balance of the Note.
1f Lender receives a payment :from Borrower for lI1iel:inquent Periodic Payment which includes 11
.sufficient lUlloun110 pay .any late charge due, the payment .may bellpplied 10 the delinquent payment .and
the late charge.1fE-ore than one Periodic Payment is outstanding, Lender .maYllpply .any payment received
from Borrower 10 the repayment of the Periodic Payments jf, .and to the extent that, each payment can be
paid:in full. To the extent that.any -excess:exists mer the payment is lIpplied 10 the full payment of one or
.more Periodic Payments, .such excess .may be .applied to .any late charges due. Voluntary prepayments shall
be applied first 10.any prepayment charges .and then JlS iiescribed:in the Note.
Any lipplication of payments, insurance proceeds, or Miscellaneous Proceeds 10 principal due 1lI1der
the Note sha11 not extend or postpone the due.date, or .change the .amount, of the Periodic Payments.
3. 1<'unds for .Escrow Items. .Borrower shall pay 10 Lender on the day Periodic Payments Me due
under the Note, until the Note is -paid:in full, 11 sum (the "Funds ") 10 provide for payment of lUllOunts due
for: (a) taxes .and .asse¡;!m1p.nts .and other items which .can .attain priority over this Security 1nstrumen1liS 11
lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, jf .any; (c)
premimm for .any llI1d .all insurance required by Lender under Section 3; .and (d) Mortgage lnsurance
premiums, if .any, or.any .sums payable by .Borrower 10 Lender :in lieu of the payment of Mortgage
lnsurance premillms :in accordance wrth the provisions of Section 10. These items Me called "Escrow
Items." A1 origination or.at.any time during the 1enn of the Loan, Lender.may require that Commnnity
Association Dues, Fees, .and Assessments, if .any, be escrowed by.Borrower, .and .such dues, fees .and
JlSsessments .shall be.an EsJ:row ltem. Borrower shall promptly furnish 10 Lender .all notices of lUllounts 10
be paid 1lI1der!his Section. .Borrower .shall pay Lender the Funds for Escrow Items unless Lender waives
Borrower'.s obligation 10 pay the Funds for .any or.all .Escrow Items. Lender .may waive .Borrower'.s
obligation 10 pay to Lender Fnnds for .any or .all.Escrow Items .at .any time. Any .such waiver.may only be
in -writing.1n the event of.such waiver, Borrower sha11pay directly, when.and where payable, the lUD.ounts
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due for .any Escrow Items for which payment of Funds l1as been waived by Lender .and, if Lender requires,
5hall furnish to.Lender receipts evidencing such payment within such time period JlS Lender.may require.
.Borrower's obligation to.make such payments llI1d to provide receipts shall for .all purposes be deemed to
be a wvenant llI1d Ä.z:,areement contained .in this Security Instrument, JlS !he phrase "1;ovenant.and .agteement"
is used.in Section 9. If .Borrower is obligated to pay EscrowItems .directly, pursuant to a waiver, .and
.Borrower fails to pay !he l!IIlount due for lUl Escrow Item, Lender .may exercise its rights under Section 9
llI1d pay such amount .and Borrower 5hall then be obligated under Section 9 to repay to Lender .any such
¡'l!IIlount. .Lender .may revoke the waiver JlS to lulY or .all Escrow Items .at lulY time by .a notice given in
¡.accordance with Section 15 .and, upon such revocation, Borrower 5hall pay to Lender .all Funds, .and .in
! such l!IIlounts, that.are then required under this Section 3.
I i Lender.may, ~ .any~e, wllect .and hold Funds in.an amount (a) suff1c~t to permit Lender to .apply
¡!he Funds .at the tune specified under RESPA, .and (b) not to exceed the m~!X1ml1m l!IIlount .a lender .can
Irequire under RESPA. Lender 5hallestimate the l!IIlount of Funds due on the bJlSÎ5 of 1;llIIent data.and
,reasonable estim.ates of expenditures of future Escrow Items or otherwise.in .accordance with Applicable
!law.
I The Funds 5hall be held .in .an .institution whose deposits are .insured by .a federal.agency,
instrumentality, or entity (including.Lender, if Lender is lUl.institution whose deposits .are so insured) or in
.any Federal Rome loan .Bank. Lender shall.apply!he Funds to pay !he Escrow Items JlO Jater than !he time
.specified under RESPA. Lender £hall not charge Borrower for holding lUld .applying the Funds, .annually
.analyzing the escrow .account, or verifying !he Escrow Items, unless Lender pays .Borrower .interest on the
:Funds llI1d Applicable .Law permits Lender to .make such .a charge. Unless an .agreement is.made .in writing
or Applicable.Law requires .interest to be p.aid on the Funds, .Lender 5hall not be required to pay Borrower
.any .interest or earnings on the Funds.' Borrower .and Lender .can .agree .in writing, however, that interest
.shall be paid on !he Funds. .Lender 5hall give to .Borrower, without charge, .an .annual.accounting of the
Funds JlS required by RESPA.
.If there is .a .surplus of :funds l1eJd .in escrow, liS defined under RESPA, Lender 5hall .account to
.Borrower for !he excess funds .in .accordance withRESPA. .If there is a .shortage of Funds held .in escrow ,
.as defined under RESPA,.Lender 5hall notify .Borrower JlS required by RESPA, .and Borrower shall pay to
.Lender !he l!IIlountnecessary to.make up the .shortage in .accordance with RESPA, but.in no .more than.u
.monthly payments. If there is .a deficiency of Funds .held.in escrow, JlS defined under RESPA,.Lender 5hall
Jlotify .Borrower liS Jequired by RESPA, .and .Borrower .shall pay to Lender the l!IIlount necessary to.make
11P !he deficiency in .accordance with RESPA, but.in no .more than .u .monthly payments.
Upon payment.in :full of.all sums secured by this Security lnstrument, Lender 5hall promptly refund
10 .Borrower .any:Funds.held by Lender.
4. Ch.arges; Liens. .Borrower 5hall p.ay .all 1aXes, .asse~!;mp.nts, charges, :fines, .and impositions
.attributable to the Property which .can .attain priority over this Security .Instrument, leasehold payments or
ground rents on the Property, if lulY, and Commnnity Association Dues, Fees, .and Asses5IIleIlts, if any. To
!he alent that these items .are Escrow Items, Borrower £hal] pay them in !he manner provided.in Section 3.
.Borrower 5hall promptly discharge lulY lien which l1as priority over this Security Instrument unless
.Borrower: (a) .agrees.in writing to the payment of !he obligation secured by the lien.in .a.manner .acceptable
10 Lender, but onJy .so long JlSBorrower is perfonning such .agreement; (b) wnt:ests the lien .in good faith
by, or defends .against enforcement of the lien .in, -legal proceedings which.in Lender's opinion oper.ate to
prevent the enforcement of the lien while !hose proceedings .are pending, but only:until .such proceedings
Me concluded; or (c) secures from !he holder of the lien.an .agreement satisfactory to Lender suborrlin:lting
!he lien to this Security Instrument. .If Lender detennmes that .any part of the Property is subject to .a lien
which .can .attain priority over this Security Instrument, .Lender .may give Borrower .a notice identifying the
47RUTHARDTDAV1D
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Jien. WithinJOliaYj¡ .of1M-L1.at£.on whir:h1hat~isp~,.:BorrowcrÆillùl~1MJien or:1ake ODf:.or
.:more of 1M.acrions 5et:forth ~ov.e in 1:hi1; ~e.rti nn-4.
,
lcn.ckr .:may:require .::BorrOwt:I 10 ]üiy  .one-1ime -Charge :for  .:real ~ ~ ~r;:rtion .1md/.or
:report:ing..serviceJ1Sed by l.ender..:in L:011TI-P.rtion VlÎ1h1:hi1;J...aan.
3. hoperty 1 mmranN" .::Borrowcr..illall Jœep 1M improvtm1et11s ~w -p.xi!:1Tn Z or hf':Te.aft--pr oerect:ed Dn
1M :PIo~ ;maIT-f'n ~ Jo5s by:fire. ha7.:rrn ~ mrll1lÌf>.n w.itlrin 1M 1enn ''-f>rti*T1lÌf>t1 .J;ov.t':l:age, .. .1md.llIly
D1her ha7m-n~ mrll1nTI1£, but~tJ:inrited1.:o, -f':rrthrplalc-f'~.4D.d.:fJ.oods,:for whir:h.Lender:reguir~ m<:lITanC'P.
J:his m<:1mmC'f'..illall be -mamTRÍnf>t1in 1M ñTTImmT~ (mdl1t1m2; ne.nl1MÏhle. levels).4D.d:for 1M ~ 1hat
lcn.ckr:requires. -whatl..t:nder:requires JlIITi¡;n:mt1.:o 1M J'T-f'C'f'nmz ~T-f>TIP.eS.L:aIl~..d.uring 1M 1enn nf
::theJ...aan. "The m<:11T:mC'f' ~ JITOviding.~ m<:1TT:mC'P ..illall be ~ by ..Borrowcr -5llb~ :tolcn.ckr'j¡
.::ripn 1.:0 .ilisapp:rov.e .:Borrowcr'j¡ l:haice, whir:h.:D,ght Æillùl ~1 be ,eXf':Tr.i~e.t1 1mT-f'a~onahly.lt:nder.:may
'-f'gl1Tr-f' ..Borrowcr "10 JliiY, in rmme.rtion VlÎ1h j}ris loan,:ci!her: (.a) Â.one-1ime .cl1arg:e Jar :flood.:zone
ne.tf"T'TTlm atÏ on , œrtifiratÏon.4D.d 1Tar1cinz ..sc:rviœs~ .or (b) Â .one-1ime.cl1arg:e:for ilood.:zone nf>Tf"T'TTl;nation
.1md £:eTtÏfir..atÏon -EIVices.1md .511b.seguent ~<>es £aCh 1ime .:re:tD¥Jrings or lìÌIIlili!I r.h::!T1þ'~ occur Vlllli::h
.:EaSanably:might..4ffect..sucl1 rle.t..,.".,inatÏnn or I'P.T1iiir.ation. .::Borrowcr ..illall.4ls0 be T:eSponsib1e:for 1M
]1<lyment nf.llIlY ~ imposed by 1M .F~ ~ff'lr.y 1vfan~MlT .A,g1:ncy in .J;onnt>.Minn with:the
Iev:Ï:ew nf..any:flood.:zane rlt>t""""m;:rti nn T-f'<:11ltin,g :fram.llIl objt:crion by .:Borrowcr.
,]f.::Borrowcr:fails :to 'TT1a1ntam .lIIlY of ~ .J;o~ nf"~r.TÎht>ò .lÙ>0v.e, ~ ~y ob!a:in m<:1TTanP.e
-wvera,ge, .4t .Lender'j¡ .option.4nd .::BorrOwt:I'.s ,e~<:-f'. -Lender is ~ ~ nnli,g-;:rtinn 1.:0 J1IITrha~f>.lIIlY
]>arti rn 1 m- -.:type or ñTTInnnt ..of .rov.t':l:age. "Thf"r-f'fnTf", ..sucl1-wvera,ge Æillùl .rover .Lender, but:might or ~t
~1 JIIotect..Borrowcr..::Borrowcr'j¡ ~ ..:in ~:PI.qperty, or 1M eontMlts of 1Mhoperty, ~.lIIly IÏ5k,
J:1.azard or Jiability .1md:might ]ll'ov.ide pea:ter or Jesser .rov.t':l:age 1han was previously in :effect. .:BorrOwt:I
..4Cknow~ 1hat ::the.cost of ~ ;mllTanC'f' .J;overa,ge -so .ob1.:aÏned:might <:iznifiranTly £Xœed ~ .J;ost nf
m<:11T:mP.e 1hat.::BorrOwt:I .ronMluiv£: .ob1.:aÏned. Any amnl1nt~ rli<:hlTT_cJ by -Lender ~ 1:hi1; ~f"rti on 3 Æillùl
I ~r.nmf> :lnniTional..debt nf.::Borrowcr <:f>r.IIT-f'rl by1:hi1;..5ecurity Tm.1TTlmMlt. ìJlese ñTTInl1nt~..illall hearinterest
In::the ~O!:e:rate:fr.a:m 1M -L1.at£ of Æshl1T<:f'!TTH>T1T .4D.d Æillùl 1>e]1<ly.a1Jk, VlÎ1h ..sucl1interest, .I!PDn~:tram
l' ;P.TInt>r :to.::BorrOwcrT-P.rplf>~E]>.ayment.
I i -AM ;n~l1T:mœ]>o1icies '-P.rplTr-P.rl by lcn.ckr .1md~wa.ls nf..sucl1]>o1icies..illall 1>e-5llb~ 1.:olcn.ckr'j¡
.::ripn 10 Æ.sapprov.e...sucl1 ]>alicies, Æillùl mrlnnf> Â ~:mnm-n -mnrtEa~ .rlID.1se, .1md..illall JJaIDe -Lender -.as
-rnnrtE~ .4D.d/or -.as.llIl anniTinnalloss ]üiyee..Lender -5.illillluiv.e ~.:D,ghtloJ1a1rl::the]Jalicies.4D.d Tt:œW.al
P.f>TtÍiiraTP~. 1f-Lender T-P.gl1Tr-P.~, .:Borrower Æillùl JIIillI!PÙy pv.e:to -Lender.lÙl Te.C'f'ipt~ nf]1lÜd J'T-P.TTIillm~.1md
JCœW.al~. 1f .:Bœ:rower obtains.llIly:fm:m of m<:1TTanC'f' .rovera,ge, ~1 ~ T-egrlÍT-p.n by .Lender,
:.for ß.ama.:ge 10, or nf"J:tmrtion of, 1M Eropimy, ..sucl1]>olicy Æillùl m~ll1rlf> Â !:t:mrlm-n -mnrtzau.rlID.1se~
~~.Lender -.as -mnrtzaßt"'.1md/ or..as.llIl anniTiona lJ05s ]üi}'£:e.
In::the ~v.t:D1 nf Jo5s,33orrower Æillùl pv.e :prompl..:norice 1.:o::the m~llTanœ ~ .4D.dlcn.ckr.lcn.ckr
~y-Eake]JIo.of nfJ.oss.if~t.:nJ.adeJlIamptly by.:Borrowt:I. 1J:nles.s-Lender.1md:Ðorrowcr~-lIgree
jn -w:ri:ting,.lIIlY ;nmT:mC'f'JIToœeds, -whether or~::the.nnder.1J'.:ÎDE m<:11T:mC'f' w.as T-f"gTTTr'f'i! by If:n.dfr,-5.illill
1>e ~ 10 T-f"!ITnnrhon .or Ieplrir .of 1MJ>.rqperty, .if 1M T-f"!ITnnrhllT] or::rep1lÎI is :t:COTImnir.:llly f-p.a~ih]f>.1md
1 fl1nt>r'.s.5eClIrity is:notl-f"<:<:-PTlf"n...Dm:in,g ..sucl1:n:pIDr.1md T-P.!ITnnrhon]Jcio.d,.Lender -5.illillluiv.e::the::riprt:tO
J101d..sucl1 m<:11T:mœ JlIoœeds .mnillf:n.dfr -has J:tad.llIl I?PPortmrity 1.:0 .:inspect ...sucl1 :PIopimy 10 ~ 1M
-work J:uJ.s 1Jeen r.rrmplfl-p.n "10 -.Lender'j¡ J;;:rtiri'artinn, ]JIov.i.ded 1hat ..sucl1m'SPf"rtionÆillùl 1>e ImrlPrtak'-PTl
]JIillI!PÙy.lt:nder~y rli!IDlTTSf" JlIoœeds:far 1M ~.1md '-f'!ITnnrhon :in  ~]1<lyment or inÂ~
of]>IDgreSS]Uiyments-.as::the workis.J;ClTTlJ'lflpn. 1J:nles.s.llIl ap"f'f'!TnP11t is.:nJ.adein w:riti:ng.or 4fpliran]e.l.aw
'-P.rprir-P.~-±n1erest 1.:o:De:]1lÜd lID..sucl1 m<:lTTaTIC'f']JIDCeeds,-.Lender Æillùl~t be T-P.rprirP.n:tO]>.aY .::Borrower.llIlY
interest or -P.::rrninZ~ .on..sucl1 JlIoceeds. ::nes :far ]lli1ilic .ädjmters, or .otb.er .::third J1ID1ies, .-t>tamf"n lJy
33orrower Æillùl ~1 be]1lÜd .DD1 nf ~ m<:11T:mœ ]1TnC'f'P.n<: .4D.d ~ be::the -IDle onlÏf;atÏon of .:Borrower. ,]f
::the'-p'!ITnnrhnn .or:n:pIDris~l-fr.nnmn;r.allyf-f"a~mlf" mlf:n.dfr'j¡ 5eClIri:ty would 1>e le.~~Mlf"n,::the m<:11T:mC'f'
]JIoceeds ..illall :De ~ :to ::the -5IJIIlS _MlT-f'Ò by ~ -5ecurity 1m:trrmwnT, -whether .or:not1b1=n.lh1e, >'lÌ1:h
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:the fXCe55, .if]illY, ])1Ûd 10 J3orrower. .5u.ch m !':lTT;mp.p proœeds.shall be.1ipplit:d in !he D1:dfi prov.i.!red ior in
Sp.r.tion2.
I ]f J3orrower ah;mcìnm!he J7openy, .l...t:n.da ~Y :fik, J1egotim:e .lIIld 5e11le ]illY ..aV~ im'JTT;mp.p
ßaim .lIIld Icl.a1ed 'mlTTf'T~. 1f J3orrower Does.J1DI :respond v.zi:tlrin 30 .day.s 10 ..a .J1Drice fr.om .Lender 1ha1: !he
m!':JTT;mp.p£aIIÍ.eI.has offered 10 5e11le ..a.claim,:then.Lender ~y .m;gotim:e.llIld 5e1Ile:the.claim. Ihe30-.day
J>fiÍOd will begin when !he ~ is ~ven. In :eÍtbfi :even1, Dr .if.Lender a~lJll;T-P.!': :the .PrOpt:rty ..1JI1dcr
"p.r.TÎon.22 Dr Dtbf:rwise, J3orrower ~by ..assigns 10.Lender (.a) J3orrower'.s ~ 10 ]illY iml1nmp.p
proœeds in]ill mTlO1rnT.J1Dt 10 :exceed!he mTlnnm<: 1ID:paid ..1JI1dcr !he NO!e Dr 1bis .5ecuriry 1n1ITTlTmT'TlT, .lIIld
(b).any other of J3orrower'.s Iipns (o:tœr 1han :the Ii,ght 10 .any :refund of lmp';m)p'cì ]1TfiTlilITT1!': ])1Ûd by
~orrower) ..1JI1dcr ..all m<;¡TT:lnœ:policies .coVfiing !he .Proptmy, insofar ..as 5UCh Iipns..ar:e .l!PPli~ahlf' 1O:the
.co~ .of!he J7operty. .Lender ~y JlSe:the m!':lmmœ proœeds:eÍtbfi 1O.:rep.ajr DrI:eStOr:e!he J70perty Dr
10]J4Y mTlO1mT!': 1ID:paid:mu:le:r!he NO!e Dr1bis.5ecuriry 1n1ITTlTmT'TlT, whether or.J1Dt:then.iliJ:e.
6. Orrnplnry. J3orrower .shall occupy, -P.IIT:lhl;!':h, .lIIld JlSe !he .Prop:eny ..as J3orrower'.s J1rinri:l':ll
Tf'!':;cìp.nœ v.zi:tlrin 60 .day.s ..after !he -p'Yf':rnTion of 1bis.5ecurity 1n1ITTlTmT'TlT .lIIld.shall çontTnllp. 10 occupy :the
J70p:eny ..asJ3orrower'.s J1rinri:l':I] T-P.!':ioffllP.P for..at least.one)æID"..after!he.dare of o~~l1f':lnry,~.Lender
Dtbf:rwise ..agrees in writing, whi.ch .consent .shall.TIOI be 1111T-f'::I~nmhly wi1:bhe1d, or ~ -f':YTffllnHrm~
rTI-MITT1IIT;mp.ps.:exis1 'Which..ar:e b:eyillldJ3orrower '.s .control.
ì. .ITeserv..aíion Maintf'nanl'l' ~ J7otPrlion of:the J70per1}'; J:nspPrliom:. J3orro-wer -Billill.J1Dt
.œ.sn-oy, nmTI~~ Dr impajr !he .Propeny, ..allow:the J70peny 10 cìP:Tf'TinT:lTf' Dr rnmmiT WJlS!e on :th:e
J7operly. Whether Dr .J1Dt J3orrower is T-f':~icìinz in:th:e J7opt:rty, J3orrower -Billill IYl :lmT:lm !he J70peny in
D1:dfi 10 ]>1':even1:the J7operty:from rlf':Tf'TiOT:lTÌnf; Dr Op.IT-f'::I~inz in v..alu.e .iliJ:e 10 iTs .conrliTion. ~ it is
cìP.Tf'TTTl;l1f'.lÌ J>llI.su.an1 10 "f':r.TÎon 5 1ha1:.:rep.ajr or T-f':IITOT:lTinn is.J1Dt £conmni~:llly f-f'::I!':ihlp., ~orrower .shall
JITomptly I:epIDr !he .Property .if rlmTI:l..ft'.lÌ 10 ..avDid :funber cìf':Tf'TioT:lTinn or cì;m¡:lEf'. lf in<;¡TT;mp.p or
~;rmÒf'!TTln:lTion proœeds...ar:e])1Ûdin .connf':r.TÎon with..damage 10, Dr !he :taking of, !heJ7openy, J3orrower
-Billill be :responsible ior T-P.p:lÏTinl Dr T-f':IITOTÌnz :the J70J>fi!Y DIJly if.l...t:n.da l1as Tf'lf'::I~p.cì proœeds :for 5UCh
Jll1IPoses..l...t:n.da~y Æsbnrse proœed.s ior!he:repair.s.llIld Tf'¡;:roT:lTinn in..a-5Íngle]J4.)'1œTIt Drin..a..5fi.Ì:es of
:progress pa~..as:th:e work is .cmTl}11f"tf':o.lf!he m!':lTT;mp'p or p.onoP.TTIl1:1Tion proœeds..are.J1Dt mffi~iffllI
10.:rep.ajr Dr:restore:th:e J7openy, ~orro-wer is .J1DI:reli:eved of J3orrower'.s oh 1 iz¡¡rinn :for !he .cll1l1J11f':Ti nn of
.5UCh.:rep.ajr DrTf'IITnT:lTion.
.l...t:n.da Dr iTs .agent ~y .:make :reason.abl:e ::enn:ies J.Ipon.llIld in~r.tinm of !he J7op:eny.. ]f it l1as
:reason.abl:e ..cause, .Lender ~y inspect :the mTffi nT .of !he imprOvm1en!S on !he .Prop:eny. lend:er .shall ~v:e
33orro-wer.:norice..at!he 1ime.of .orprior 10 5UCh]ill mTf'TinT m~r.TÎnn -Bpeci:fying .5llcl1:reason.abl:e.caus:e.
I B. .:BmroWÐ"'.s Loan App1ir$ltion. J3orro-wer -Billill be in .rl:efaulI if, .during !he J...o.an ..applir:lTÏnn
'Irr0œ5S,J3orrower Dr ..any Jlffl"!':on!': or ~ ..acting -.Ä!!he rliT-f':r.TÎon of J3orro-wer Dr with J3orrower'.s
Jmowkà,g:e Dr ~on~ffllT ~v:e IYl:lTf'Ti:llly:false, lYli<:lf'::lninz, or m:lrrlTT:lTP mfnrm:lTinn Dr ¡;:r:ltfiTlf'nt!': io.l...t:n.da
(or :failed 10 provide .Lender wi1h IYl:lTf'Ti:ll infnrm:lTÏnn) in .connp.r.TÎnn wi1h !he lrum. ~
Ierrr-p.!':P:TlT:lTinn!': inrlllcìf', bm...are.noI linrit.ed "10, :IepT-f':<:P:TlT:lTion!': .cnnf'f'TTlinz J3orro-wer'.s O~~l1p:lnry of !he
"Properly ..asJ3orrower'.s J1rinri:l':I 1 T-f':!':i OffllP.P.
9.J7oíection of T ,pnnpr'.s1ntersUn íheJ70perty ~~ IJn.der:íhis f;Prl1ri1y.1nstrument.]f
(.a) J3orro-wer ±1ils io ]1ffinrm :th:e .cOv:emmIS.lIIld :I IT-f':P.mf':TlT~ r:om:linf'cì in :!his .5ecurity 1n 1ITTIITT1ffllT, (b):J:bcr:e
is ..a legal JITnl'PPcìm Z 1ha1:..:might ¡;iznifi~;mtly .lÚÏeCI.Lender 's inr.erest in :the ..Prop:eny .lIIld/ or ~ ..1JI1dcr
:this 5ecm:iry Tn1ITTlTT11ffllT (.such..as..a prnl'PPnmZ in h:lnkrnptcy, probaTe,:for .cnnoP.TTIl1:1Tion orfmff'itllTf',:for
-P.1lfnT~T of ..a lien whi.ch E.ay .1!11a:Ín]Jriarity over :!his 5ecm:iry 1m:lTIITT1ffllT or 10 -P.11fnTP.P lD.w.s Dr
T-f':l'Jll mi on!':), Dr (.c) J3orrower l1as ah;mcìcmt".lÌ :th:e ..Propeny, :then.Lender E.ay .do .lIIld :P<lY :for VlillIIever is
:reason.abl:e Dr ..appIopri1l!:e 10 protect .Lender'.s inr.erest in :th:e .Properly .lIIld ~ ..1JI1dcr 1bis .5ecurity
ln1ITTlTT11ffllT, m~lllrlin Z prOT-P.r.rÎn.£ .lIIld/ or :I!,:!,:-p.!':~inz:the v..alu.e of:the hoperry,..and !,:-p.~lTriTèf..and1 or T-P.p:lÏTin 1',
:th:e J7operty. .l...t:n.da'.s..actions ..can mdl1&, bill..are.not linrit.ed io: (.a)]J4y.ing.any.ßllIDS ¡;f':~lTT-P.cì by..alien
'Which J1as J1IÍOIÌ1Y over 1bis .5ecurity 1n"!':lTITTT1ffllT; (b)..appearing in .comt; .lIIld (.c) pay.ing Tf'::I!':on:lhl-p.
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0921539
000039
~Y5' :fees 10 :protect its iDterest in !he ErDpf:fty .1IIl.d/ or Iigh:ts JIIl.Cle:r:!his .5ecuriIy 1TI1ID1"ITT1ffllT, ;nr.lllrìm Z
its ¡¡~r.JlTed Jlosirion in.a h:mlrn1J1ICY prnl¥'PnÍT\f. ~~r.1Tring!he ErDpf:fty -Tnr.llllif'~, bmis ~tlllnited 10,
-P.TlT~!he Eroperty 1O.Jruٜ Iepairs, l:b.ange locks, :replace Dr boarrlllp Mars.1lIl.d willdOW5, J1rain w.ater
:from Jri.pes, ~limm:rr~ hllîlrìinz Dr other .coœ viol:rriom or ~ous .cemrìirinm,.1IIl.d llave :ut.ilities 1ll:rœd
on Dr Dif. A ht1OlIf71 lender.:may 1.alœ.action JIIl.Cle:r ibis ~f'M'Ìnn 9, lender .does ~tllave 10 M 50:arw is ~t
JIIl.Cle:r .any .lluty or ohliz"tiem 10 M 50. 11 is ~ 1hat lender incu:rB.no liability Jar ~t ~.any or Æ
.acrions "111Ì10TÍ7f'ci JJJ1.dt:I ibis Sf'Mi on 9.
-À:Ily aTIlnnnt¡¡ Æs~ by lender JJJ1.dt:I ibis F:f'M'Ìnn 9 ~ buame "rìrì1rinm!l kbt of .Borrow.er
_r.llT~rì by :!his .5ecuriIy Tn!m1"ITT1ffllT, ~ aTIlOlmT¡¡ ~ bear iDterest .at !he Note TII!:e :from !he.lime of
Æsbm!<f'T1lf"TlT .1IIl.d ~ be pay.ahle, w:i!h.such interest, llpon:norice:from lender 10 .BorrOw.er :requesting
papœm.
]f ibis .5ecuriIy Tm:tnlTTIf"TlT is on.a If'''!<f'nolrì, .BorrOw.er ~ .camp1y with.all!he :provisions of !he
J£ase. Jf .BorrOw.er Br.cpTÎT~¡¡::fee J:i1:1e 10 !he Eroperty, !he 1f',,¡¡~ho lrì .1IIl.d !he ::fee J:i1:1e ~ .not ~ JlIlless
lender.ll,greeS 10 -me~ in writ:in,g.
JO. -Mortgage Tn!01lr~nr"Í'. ]f lender:r~ Mnng.age lTl !':nT":m1'f' .as .a .cemrìirinn of ìll B lrin ~ !heJ...o.an,
.Borrow.er ~ :pay !he JITflT1illTTI¡¡ T~I})lir~rllO ìllBmTmn !he M ortZ"zt' Tn.':m:mœ in :effect. ]f, Jor .any:œason,
:the MDI1gage Tmm:m1'f' .coverage :required by lender .œa.ses 10 be .av..ill.abJ.e.:from!he :IIlO.l1,gßgeinsurer 1hat
:previously provided .such -Tn"llT""n1'f' ..and .Borrow.er wæ; required 10 Eake.separnte1y rlf'!':i1'Jlm~ci payments
10w.ar.d !he JITflT1imm ior Mong.age TTl~mm1'f', .Borrow.er Jilia]] pay :the. JITflT1illTTI!,: :required 10 obtain
..cov.erage ¡¡nh!:t:mTi:llly ~v.alimr 10 !he MOIJ:g4ge Tn!;lmmœ :previously in :effect, .at .a..cast ~lh!:T:mri"lly
.v.alimr 10 :the ..cost 10 J3orrow.er of !he MortZW Tn~m:m1'f' ]1reviously in :effect, :from.an Blrf'ITl"TT"
ìllortZ~ insurer !<f'1T"N~ci by lender. Jf !;llh!:t:mti"lly ~v.alent Mor.tg<¡ge Tmm:mC'.f' ..coverage is ~t
.av..ill.abJ.e, ..Borrow.er 5h.all..con1:ÎI1lJe 10 pay 10 lender:the aTIlOlmT of!he.separnte1y rlf'¡¡i,v1mT"ci payments 1hat
were.Dlle -wbm !he -Tn!':llT:m1'f' .coverage...ceased 10 be in £ffec:t. lender v.rill.accept, .use.1lIl.d:r:etain 1he.se
:payments .as .a :non-T-P.iimrl:lhl~ loss :reserve in lieu of Mong.age mmnmr.e. .5u.ch loss :reserve 5h.all be
JlOIl-T~iimci "h 1f', .notwith!:T:lnrìin Z :the i'act 1hat !he J...o.an is lllTim "T+"ly JI2Îd :in :full, .1IIl.d lender ~ ~t be
:required 10 pay.Borrow.er .any imerest Dr ~~¡¡ on ÆUCh loss :reserve. lender ..can:no .longi=r :r:e.gnire loss
T:eSffiVe payments jf Mong.age TTl!':llT:m1'f' ..coverage (.ill !he aTIlOlmr .1IIl.d ior :the JIfiÍllil1hat lender T~l]llir~~)
JlIovided by.an.:insurer ,,~1~r.T~n by lender ~ buames .a~, is ob1ai:ned, .1IIl.d lender T~l]llir~~
~y rlf'¡¡iEJI "T~ci payments 10w.ar.d!he ]1T"flT1illTTI ~ ior Mar1:gßge Tn ~llT:m1'f' . ]f lender T~cprirT'.ci Mnng.age
Imm:mœ.as .a ..ccmrl1rion of ìll,,1..'"'ÍnE !he l..o.an..and ..Borrow.er wæ; T~l]niT"~rl10.:make Sf'JlBrJn~ly rlf'"i:VTm~ci
payments 1Ow.ar.d!he JITflT1illTTI" ior MortE"zt' Tn~mml'f', ..Borrow.er -5hall :pay !he ]ITflT1;nlT\" :reguired10
'ìllBmT,,;n MortZ"U Tn!;llT:m1'f' in ~!, Dr 10 JlIovide .a :non-T-P.iimci"h1~ loss :reserve, JJDIil lender'j¡
T~I]Jlir-P.l1lf"Tltior MDI1gage Tn!;l1T"nl'f'~in.accnT"ci:mœ with..any.v:rinen BZT~ ~..BorrOw.erßld
lender :prOVid.ing ior ÆUCh t~T"minmion or Jmtil t~mmiem is T~r¡:nir+".ci by Appli~"h~law. Notlring in ibis
..5ecrion 10 ..a:ffer:ts..BorrOwer'5 on liEmi em 10 pay iDterest.at!heTIl!:e :providedin :the Note.
MDI1gage m~lT:mC¥' T-P.ÎmhllT"~" lender (or..any ~ 1hat ]11lT,.,h,,_~ !he Note) ior ..cenaÏn losses it
..:may incur .:if ..Borrow.er -Lloe5 :no! :repay !he J...o.an .as ~. J3orrow.er is ~t .a JliII1Y 10 !he MortZ"Er
Tn ~lT:m1'f'.
Monga.ge TI1"llT-I"T" ev.aluat:e :their 1o!al.Iisk on.all .such TI1"llT:mC¥' in :forœ .:from :rime 10 :rime, .1IIl.d.:may
~ into "ZT"-f'f'TTIf'TIT" VlÌ1h otherJl'lI!Ïes 1hat-5h.ar~ Dnnodify :lbcin::isk, or :reduce losses. "These ~"T~n
-M~ .on:t.errns..and {".nnrìirinm 1hat..a:œ ""ti'>f"Nnl}' 10 -me TIlortE".Ef'insurer.1lIl.d!he otherJlilI1Y (or paniJ:s) 1:0
::these "zr~T~. "These BZT~f"TlT~.:may:r:egnire!he ìllortE"U insurer 10 E.ake plI.:.yEeDIS J.J.Sillg..any .sourœ
ofj]mds 1hat !heìllort~"~e.:insurer.:may llaVf .av~]e (which.:may ;n~lllrlf':funds ob1ai:ned:from Mong.age
In~lT:mC¥' JITfiTlillTTI ~).
As.a:result of1he.se "ZT-f'P.TTIf>nt", lender, .any IlllT,.,h,,!:f'T of !he Note, :mnrht>r insurer,.any T~m"llT-I"T,
..zny other~, or..any Bffili"T~ of.any of!he.farego:ing,.:mayECeiv~ (.directly or mrlirf'Mly) aTIlmmr"1hat
..derive:from (or:might: be r.hm""N-I"TÎ7~ci.as) 4J.ponion of..Borrow.er'j¡:payments ior MDI1gage TmllT:m1'f', in
~Yr.h:mEe ior !:h:lTÎl\f Dr EOdi:fying !he .JIlDI1gage insurer'5:risk, or TT'.cillMnZ losses. ]f .such BZT~f"TlT
JlIovidt:s 1hat.an Bffi1;m~ of lender :takes .a ..share of !he insurer'j¡ IÌ£k in nr.h:mu ior .a.share of !he
]1T"flT1illTTI¡¡ JI2Îd 10 :the.:insurer, !he JI1T:lnzf'lTH>TlT is often 1:er:mt:d '~ve T~m~lT"n1'f'. " ~.u:nher:
I (ll) .An)' .5Ud1 ~PflT1f'11t.. will .Dot ..affect :i:he .ammmt.. ihat .BOlTOWB" JJ.as ~ "10 pay for
~ Tm:lInlnc"Í', or~)' other:íB:ms Df:íhe-Loan.. Bu.ch..agrPPnlf"nt.. will3lDtJncr.ease:íhe .amount
..BOlTOwtT will ow£for .Mortg~ge Tm:nr~nl'f", ~:the)' will.DOt :£IIiitle..BOlTOWB" 1.o~y IeÛJnd.
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09' r>... r..-~.ItJ~
.......1..._~' \.oJ J
(b) .Åny £UCh ..agrPPmpnt<; will.DOt 4lffect :the.:rights -Borrow£r .bas - if 4lDY - with.nspect 1:0 íhe
Mortgage lmamm{'f> ~ :the HmnPfl~5 .Protedion.Act of ~998 or .JUly other Jaw. These Iights
.may inrlnnp íhe .right 10 IfœÌve a.r.tain JlisclOSl1rtS, 10 I£gUeSt.JU1d obtain r.an{'f>])ation of:the
.Mortgage 1 n<i;JITanrp, 1:0 llave :the ~e 1 n<;nnlnrp -tf'Tl11inatPil antmnatira ])Y. .JU1d/ or 1:0 ,IfœÌve .ji
Iåund of4lDY Mortgage In<;nranrp prPJJ1inm¡;: :that w£re nnparnpr! .m::the íime of £UCh Nln{'f>])ation or
-jprmination.
n. -Á",¡;:i.f?1T11Pnt ill Mi¡;:N"lIanE'fi1)<i; .Proceeds; .Forfp.Ïtnre., All Ml¡;œ11::mP.QUS Eroœeds .lIIf J1ereby
¡¡¡;¡;1znp.rJ ID ..and.£hJill be:paid IO 1...en.der.
Jf:the.Property is rlmnwrl, .suchMl¡;:œ11;rnp.ousEroœeds-5illill belipplit:d IOT~!':tnr:ninn Dr:repaIT Df
1:he Eropmy, if:the IfStonnion or:repaIT is t:COnoml~¡¡11y f~¡¡~îhlp..and 1...en.der'.s 5fCUIÎty is:not }e~~ffl1Prl.
TIJIring .such :repß1r..and T-P~OT:rti nn J!fiÌOd, ~ .£hJillllaVf:the:right IO..hold .such .M i ~œ11 ;rnpQUS J>.roœeds
.liIl1Ïl ~..has.had.ml oppanunity IO.:insptxt.such Eropmy Io .:f:I15ll:œ:the work..has been .cmnp}eT-Prl Io
~'.s ~:rti !IT:u~rlon, :provided :!bat .suchiD.specrion -5illill be lm~:¡ k-f"n promptly . lender EaY J1aY iOr :the
:rt:pßÏrs ..and :restOT:ltion in .ll .single mshlmP.TTw.1lt Dr in .ll ~s of progress pay:me:ms .as :the work is
.L:mnp lfl-Prl. Unless.ml a zr~ffl1T is Earle in -w.riting Dr App 11~an 1p law rx:q:uir:es inær:est 10 be:paid on.such
Ml¡;œll;rnpQUS Eroœeds, lender -5illill,:not be T~C]lIIT-Prl 1:0 pay .Borrower JillY inær:est or -p:rrnin~¡;: on.such
Ml¡;œl1;rnp.ous .Proœeds.Jf1b.e T-e!':tOT¡¡rlon Dr:repß1r is:not:ecnnmni~:l11y fp.:I¡;:ihlp orlender'.s 5fCUIÎty would
De 1p¡;¡;-pnp.rl, 1b.e Mi¡;œll:mf".ous.Proœeds ß1all be..applied IO:the -5ll1IlS ¡;P~lTT~rl by J:bis .5ecm:ity Tm1T1lll1f"T1t,
whf:t:her Dr,:not:1:ben..dIre, with:the :exc:ess, if .mlY, :paid 1:0 .Borrower. Buch M 1 ¡;œ11 ;rnpQUS Eroœeds -5illill be
;:¡pp1:iedin:the roxIt:rproV:Î!lOO ior in Seor.tion ?
In 1:he :event of ..a J:Otal~, rlf"!:trnMÍon, or loss in v..allie of:the Eropmy, :the Mi~œ11::mP.nm
J>.roœeds -5illill be;:¡pp1:ied 1:0 1b.e..smns ¡;Pr.1TT-Prl by lhis .5ecm:ity Imtnlll1f"T1T, whf:t:her Dr,:not:1:ben..dIre, wÏ!h
:the:exœss, if.mlY, :paid ID .Borrower .
1n :the event Df.ll partial ~, rJe<m11 MÍon, or loss in v..allie Df 1b.e .Propmy in -which :the :fair:m.a:r:ket
v..allie Df 1:he Eropmy iT1Tmf"rll :lTf'ly before:!be partial1aking, rJe<m11MÍon, Dr loss in v..allie is :equal 10 Dr
grea:œr 1:b..an:the mn01mt of:the..smns ¡;P.~lTT-Prl by J:bis .5ecm:ity In<m1llTH"nt irnmf'rli:lTP1y before :the partial
~, rlf"<m11MÍnn, Dr loss in v..allie, JII1l:ess .Borrower ..and 1...en.der 01herw.ise.llgree in -w.riting, :the-5ll1IlS
!:f'r.1TT-Prl by :Ibis .5ecm:ity In<m1rrnpnl -5illill be T-Prl11f'f'ii by :the .lIIIlOlmt of:the Mi"f'f'll;rnp.QUS Eroœeds
ì'Tlll1tip1if'rl by:the :following fraMÍon: (.a):the J:Otal mn01mT Df:!be -5ll1IlS !<P.~lTT~rl Ì1T1TnP.rliaTf'ly OOorf:!be
partial1aking, rlf"<m11MÍnn, Dr loss in v..allie JiiV:Î!lOO by (b) :the :fair :mar:Jœt v..allie of1b.e Eroperty
~rliarf'ly before:the:panial~, rle!:Tnll~Tinn, Dr loss in v..allie.Any halance-5illill be:paidIo.Borrower.
In :the"fvent Df ..a partial ~, rlf'!:Tn1MÍ on, or loss in v..allie of:the .ProPfrtY in which:the:fair:m.a:r:ket
v..allie of:the J>.roperty Ì1nmf'iii:!Tf'ly OOorf:the :panial1aking, rlf"~TT1Ir:tion, Dr loss in v..allie is less 1:b..an:!be
mn01mt of:the..smns "f'~lTTf'rl irnmf'rli:lTf'ly JJdore :the partial1aking, rlf'm11MÍnn, Dr loss in v..allie, JIDl:ess
.Borrower ..and lender Dt:l1erwise.llgree In WI:Ì1:ÎI1g;, :the M 1 ¡;œ 11 :mP.0llS .Proœeds -5illill be lipplicl 10 :!be -5ll1IlS
¡¡¡>r.1TTP.rJ bylhis.5er:m:ity In<m1lTTIf"Tlt WÌ1e1:bfi Dr:not:!be-5ll1IlS..are :1:ben.due.
Jf :!be EroperI}' is :In;rnrlnllf'rl by .Borrower, Dr if, .zfter -TIOIiœ by lender 10 J3orrower :!bat :the
Dppos:ing.P.lIIty (liS rlP.i"inP.rl in:theJ1eXI s.fflltffl1œ) nffer.s 10~ Jill ..aw.ard 10 .s:et1:1f..a.clIDm ior rJmnaus,
J3orrower fails Io r:espond IO lender within 30 .day.s .zfter :the ..dare 1b.e :noIice is ~ven, ~ is :1m}, 0TÍ7f'rl
IO ~..and lipply :the Mi..œll;rnp.QUS Eroœeds 1:Ï1:her 1:0 T~~nT:¡rinn or:repß1r Df J:Ìle ErOPfrtY Dr 10 :the
-5ll1IlS "f'r1TTP11 by lhis.5ecm:ity m!:Tnlll1f"T1T, WÌ1e1:bfi Dr:not:1:ben.due. "Oppos:ing l'.lIIty" .:means 1b.e 1h:ird parry
:!bat owes J3o:rrower M i ..œll :mP.QUS .Proœeds Dr:the parry ~ w:hmn .Borrower ..has ..a:right of..action in
rfgaId 10 Mi~œll;rnp.ous .Proœeds.
.Borrower -5illill be in lJclaultif.mlY..acrion or prnC'f'f"iiln.£':, WÌ1e1:bfi.L:iw or rnmin:¡l,is begun:IÌUlt, in
lender'.s jllrl.EJllP.1lt, l:Olll.d :result in forfei:turf of:the Eroperty Dr other OTI:lTf'TÌa1 imp:!Trmf'!Tlt of 1...en.der'.s
inrerestin:the .Property Dr:rights lJJJ..dcr lhis.5ecm:ity mm1T1llf'1lr. .Borrower £aD...ClITf.such..a .dclault..and, if
:I"'f'f'lf>T:ITÌon.has n~~nrrf'ii, Icinst:ai:e.as :proV:Î!lOO in !'\f'MÍnn 19, by "':ll1..in~ 1b.e..action Dr prnP.P.f"11inZ 10 be
rll!m1i....f'n -with..a:n.iling :IÌUlt, in~'.s jllrl~f"nt, ]IT-P.dnrlf"¡;: forff'Ìf11Te DfJhe.Property Dr other OTIarf'TÌ:¡l
-irnp:¡ÌTTnP.nt of ~'.s inær:est in:the .ProPfrtY Dr:rights lJJJ..dcr lhis.5ecm:ity In!:Tnlmf'Tlt.The JIToœeds of
.mly..aw.ard Dr .clIDm for nmn:lEP''':IÌUlt.llIf JiTtTÌhnT:lhlf' 10:the TTTllwiTlllf'!TlT oflender'.s inrerest in:the Eropmy
,.l!If.Mrfby ¡¡¡;¡;iznt'..rl..and -5illill .be:paid 10 1...en.der.
. All Mi..œ11;rnp..()J.IS Eroœeds :!bat .lIIf :not;:¡pp1:ied IO T~!':tnT:¡Tinn or rt:p.air Df:the .ProPfrtY -5illill be
~in:!be roxIt:r proV:Î!lOOfor in .5ecri.on2.
I
4mrrtJARD1DAV1D
i ¡
:G-£(WY) !DD.051
®
Initials:
~7l(
F~mn3Œi1 1/D1
'P.ageE Df 15
.................-.'...
0921S39
000041.
TI. .:BmrOWð" .Not "Rl"lE'~¡';E'rl; ~orhf>JlT~nN>.:By T ,pnrif>T .Not 4i W~Vð". "Rytffll~ion of.:tJre::IÌIne:for
J1aymenI Qrmonifi~:ITÎnn of mnmTÎ7:Jrion of.:tJre5DIDS !i:f'r:JlTf'n byIhis..5ecm:ity InmlI11WT1T UmrTf'n by~
10 ..Borrower ill..any Sll~r'f'~!i:OI in 1nterest ill ..Borrower £hall.:no1 openne 10 r~ .:tJre liællliry of ..Borrower
or..any Sll~r'f'<:<:OIS in 1nterest of J3orrower. ~ £hall..1101 be Tf'l}lliT-f"n 10 .cnTTImffllr'f' JlInN>Pnin~~..4gaÌD.St
--.any Sn~l'-f"<:~nT in In:œrest ill ..Borrower or 10 .:refuse 10 £xrend 1ÌII1e :for paymenI or D1:herwiSe EOdify
mnmTÎ7:ITÎon of.:tJre5DIDS !i:f'r:JTTf'n byIhis..5ecm:ity Inml1mf"TlT by ~on of ..any nf'TT1:mn.J:JlJlde by.:tJre m;pml
J3orrower or..any Sll~r'f'~~nTf) inln1erest of ..Borrower. Any :foJ-hP.:JT:mr.e by ..Lender in -P.Xf'T~i <:in..8..any:right or
::remt:dy indnrli-nz, w:i1hrn:rt limitation,.Lende:r'.s :<!CCepIaIlCe of J1a~ :from 1ìrir.d ]>eISons, :em:ities or
~n~r'f'<:<:OT<: inln1erest ill ..Borrower ill in mnnnnT<: less :!ban.rœ mnonnT 1ht:n LlI.æ, £hall.:no1 be.a w.aiver of ill
J1Tf'~lnnf'.:tJre -P.Xf'T~i!O<f' ill..any:right or ~y.
]3. .Joint.JU1d Bev£r.al T .hhili1y; Co-:signers; ~nr"""'¡,;ODì.JU1d A¡,;¡,;i.v'<: .:Bound. ..Borrower .mv.enants
Ällii..agrees :Iha:t..Borrower'.s oh 1 iZ;¡ti on <:..and 1im1ility £hall be jo:im..and .seVfial. .However, ..any..Borrower who
J::o-.si.gns Ihis ..5ecm:ity InmlI11WT1T but JÌOf:S..1101 "f'.X-f"rTlTf' .:tJreNote (.a ".co-.sjgner"): (.a) is £o-~ Ihis
-&cnrity Inml1mf"TlT .only 1:0~, p.an!..and .convey .:tJre J::O-.5Ïgœr'.s .interest in .:tJre .Proptmy J.lD.der:1:he
1:eIm5 of 1his Becurity InmlTmf'TlT; (b) is..1101 ]>eISaruilly Ohl~:IT-f"j¡ 10 J1ay .:tJre.5llll1S <:f'~1TTf'n by Ihis ..5ecm:ity
InmlTmffllT; ..and (.c)..agrees:Iha:t..Lender..and..any other ..Borrower .L:.an..agree 10 £xrend, EOdify, :forbear or
Ea!œ ..any ~..mrnnnn:Jrinn<: wÏ!h xegm:d 10 .:tJre 1:eIII:LS ill:!his -&cnrity InmlI11WT11 or.:tJre Note wiI:hœn:1:he
J::o-.5Ïgœr'5.consem.
..5ub~ 10 .:tJre JlIovisions ill .5t:crion lB, ..any Sn~r'f'<:~ar in ln1erest ill ..Borrower who :J<:~11lT1f'<:
J3orrOwer'5 ohlizaTion<: J.lD.der:!his..5ecm:ity Inml1mf"Tl1 in wri:tin,g,..andis .2ppIo~ by..Lender, £hall obtain
ßl of ..BorrOwer'5 :rights..and hffllf'fu~ J.lD.der Ihis ..5ecm:ity Inml1mf"TlT. ..Borrower ..sillill..1101 be T-f"lf':J<:f'n :from
J3orrOwer'5 oh 1 i.e;ari on<: ..and liællliry J.lD.der Ihis ..5ecm:ity Inml1mf"TlT ~..Lender ..agrees 10 5ll!:h :reæase in
WIiring. The .cOv.enants..and azrfi!lTlffllT<: of Ihis -&cnrity InmlTmffllT £hall bind (fi.œp! Ä5 JlIov.i.œd in
Sf'm on 20) ..and benefit.:tJre .sucœssors..and.JlS5jgns ill..Lender.
1.4. Loan Charges. ..Lender :may .chargt: ..Borrower :fues :for .services perlnTmf'n in mnnf'Minn wÏ!h
J3orrower'.s..ddmùr, :for .:tJre JllifP05e of JlIOTf'MÍnZ ..Lender'.s.interest in .:tJre .Proptmy ..and:rights J.lD.der Ihis
-&cnrity Inml1mf"TlT, mdllC1~, bm.:no1 J:imÏied 10, .1IItOIIley.s' :fees, JlI0per1y ~..and va lnaTinn :fues.
In :regani 1:o..any other:fees, .:tJre ah<:f'T1r'f' of :express.1lII!horit:y in:!his ..5ecm:ity InmlTmf'TlT 1:0 .chargt:.a .speciíic
:fee 10 ..Borrower ..sillill..1101 be ronmlJf'n.as.a JlIohihiri on on.:tJre r.h :JT~ of 5ll!:h:fee. ..Lender:may .:not ..chaI:ge
:fees :Iha:t.are "f'.XJ11'f'<:<: ly JlTnhihirt>n by:!his..5ecm:ity Inml1mf"Tl1 or by .Âpp 1 i ~ah If'.Law.
]f.:tJrelrum is .sub~ 10 .alaw whiclJ..sets onaYÌmJTm lrum cl1:JTU~,..and:Iha:t law is i1nally inIerp:reted 50
Êll!.:tJre.interest or other lrum ~h:JTZf\~ .cnlJf'Mt>.r1 ill 10 be .colJ.f'M-f"njn .cnTJTJf'mon wi1:h:1:helrum:exœed.:tJre
]1P.TITIÌTtf'n J:imits, 1ht:n: (1I.)..any 5ll!:h loan ..chaI:ge -5hall be Tf'nnr'f'ð by.:tJre mnmmT "TIf'r'f'<:~ary 10 :reduce .:tJre
..chaI:ge 10.:tJre ~iTtf'n Jimit;..and (b).any 5DIDS.aJready £.nlJf'Mt>.r1 irom..Borrower whiclJ. -P.YN>Prif>.rj p=miTtf'n
Jimirs will be Tflimnf'n 10..Borrower. .Lender.:may ..choose 10 Ea!œ:!his rdund by Tf'nnMnz .:tJre prinr.ipal
ovæd J.lD.der :1:he Note or by on:lkinZ .a .direct J1aymen! 10 ..Borrower. ]f .a rrlund Tf'nJlr'f'~ prinr.ip:ll, .:tJre
Tf'nnmon will be :treated .as .a pa:rtÏ41 prepaymenI w:i1hrn:rt ..any prepaymenI .chID:ge (~ ill .:no! .a
.J!I:eP4ymen! ..chaI:ge is JlIov.ided for J.lD.der .:tJre Note). J3orrower'.s .accep1ance ill --.any -51lCh :refund.::JilllL1e by
Ærecr J1aymen! lO..Borrower will.con<:tiTITTf'.a waiver ill..any:right of..action J3orrower :nriglnl1ave:.n:is:ing OIl!
ill-51lCh OVffl"~h:JTU.
B. .Notiœs. All.:noriœs ~\æIl by..Borrower or ~ in j,:OTInf'mOn wÏ!h Ihis..5ecm:ity Inml1mf"Tl1
:must be in wri:tin,g. Any mJ!iœ 10 J3orrower in £.n1lT1f'Mi on wÏ!h Ihis..5ecm:ity In mlI11WT1T £hall be nf'P.1T1f'n:ro
l1ave :been ~\æIl 10 ..Borrower when.mailed by :firs1:.l:lJlSs JIJ.aÎl or when 4ICW.aliy ..dcli\æred 10 ..BorrOwer'5
.:norice anciT-p.<:<:.if 5eD! by other:means. Noti.ce lO..any .one ..Borrower £hall j,:nn;:tÍnlTf'.notice 1:0 .a1l..Borrowers
J.111less ..Appli~ahl~.Law ~xpr-P.<:<:Jy Tf'qlJÍT-P.~ O!bt:rwise. J:he mJ!iœ annT-f"~<: £hall be:1:he .Property AnciT-ess
J.111less ..Borrower luis nf'<:i.e;n:lTf'n .a s.1Jh;:tÍnrtf':notice anciT-p.~<: by.:norice 1:0 lendt:r. -33orrower ..sillill ]JIomplly
..11OIÎfy..Lender ill ..Borrower'.s.cl1ange of anm--f"<:<:. 1f..Lende:r .specifies.a JlIoœdure:for:repor:ring ..Borrower'.s
.rlumge of :JnnT-f"<:<:, 1ht:n ..Borrower ..shall Dllly:report.a.cl1an,ge ill :lnnTf'<:s J:Ì1I0lll;h:that <:]1f'r.ifit>n JlInr'f'rll1TT'.
T.her:e:may be Dllly .one rl~~izn:JT-f"j¡.:norice anm--f"<:<:.J.lD.der Ihis -&cnrity mmlTmffllT .at --.any ~ 1ÌII1e. Any
.:norice 10..Lender ..shall be gi\æIl by ..dcliVfiÍIJg it or by onailinz it by :fu:su::lass JIJ.aÎl1O ..Lender'.s annTf'~s
5Ia!ed ..bt:rein ~ ..Lender luis rlf'~iz:n:IT-f"n annrhf'T :lnm-f'~<: by .:noriœ 10 ..Borrower. Any .notice :ill
.connf'mon w:i:th Ihis .Security InmlTmffll1 £hall.:no1 be ~n 10 Juive b:een gi\æIl 1O..Lender .lIIl!Î141CW.aliy
:receiv:ed by..Lender.]f..any mJ!iœ I:eq:uÏred by Ihis ..5ecm:ity Inml1T11ffllT is.also T-P.l}lJÍT.¡>.f1 J.lD.der .Appli~ahlf'
law, :1:he ..Appli~ahl~ law Tf'l}lJÍT-P.mf'1lT will ..sarisfy .:tJre .cm:responiling TT'l}lJÍTf'TTlffll1 J.lD.der Ihis ..5ecm:ity
InmlTmffllT.
-47RUTtlAmITDA VJD
G-.6IWY) !DJlD51
®
~.age 1D Df 13
Inrrws:1)¿7^
F~nn3D51 11D1
¡ili~i¡;~;m~mm~;~¡;
~;·];iili~~~~¡~;~
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ì
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.,~ -C.'-,' ~_-_'-="<.o- .
i
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I
0921.5JS
000042
.16. Governing ..Law; .5ev:erAhility; .:Rules Df CDnStr.w:tion. This ~ Tm:tnTInFnt .M1ill be
~o~ by::federnl Jaw.2I1d.1hf: Jaw ohhe jnTi~nimon in w.hich.1hf:.Propmy is locaœd. .All:rights.2I1d
OhliZ;JTiom .conT;Jinp.n in :this ~ 1m:tnTmf'nT M-e ..5libj-ecr 10 ..any T~cpJirflTlP11T~ .2I1d limiT;Jriom of
A]Jpli~;Jhl~..Law. .Appli~;Jhl~..LaW.:mighI ~xpli~iTly Dr -implir.itly .llllow:thepmies 1O.lIgItt by ~ ill it
.:might be.silt:n1:, but.such .si1ence.M1ill.IlDI be £Om:TTJ]~n.liS ~ prohihirion.ß,gäinst a.v-~FnT by.aIDn:acr.1n
::the :event !hat ..any -provision Dr £lause of:this ~ TmmrrnFnT ill :the N01:e c:onf1iM"~ with .Appli~;Jhl~
..Law, ~ .conflict .Eluùl.not.ÄÍf.eeI ~ provisinns of:this ~ Tmtn1TI1FnT Dr.1hf: Nme w.hich..can be
,gÎ1æIl:effect without.1hf: .corrflimnz provision.
.As .llsed in :this Becnrity lmrrrlllT1F.nT: (11) wmds of:the m;J~~nlinf' gender .M1ill ~ .2I1d mdnrtP
..cmresponding.:nemer wmds ill wmds of::the f~ininf'~; (b) wor.ds in::the ~nZJll;rr.M1ill ~.2I1d
mdl1Ci~::the plu:ral..and vice Vfi5a;..and (L:)::the word 'Eliy" ,gÎ~.sole ni~r.r-P.Tion withom.any OhliZ;Jrion 10
1ake .any..action.
.Ii. .BDITower'.s Cnpy~ .BorrOWfi .Eluùl be,gÎ1æIl onu:opy of.1hf: Nme..and of:this ~ Tm:mTInF.nT.
.J.8. Trand'Pr ill ihe .Property or ~ .Bf>nf'firiBI1nter:est.in .BDITDW:er. .As l1Sed in:this ~f'mnT1 18,
'1merest in::the.Propmy" .:means..any Je.gal Dr hF.nF.fi~i;J 1 imeres:tin:the .Propeny, indnnin Z, but:not.limired
10, !ho.se hF.nf'fi~i;Jl mTfl"~sT~ ·TT;Jn<ITfiT-eÒ in~ bond for.deed, .comract fDr .deed, msT;Jlhnf'nT .saks C:rm1T;Jrr ill
:escrow ;¡ zr-efflT1f'TIt , ::theinrent of v.zhich is ::the 1T:rn<ITfl" of:ritle by .BorroWfi 1lI ~:::furure lime IO ~ pnr~h ;Jt;¡ffl".
If Jill ill .any J1aI! of.1hf:..Prüptmy ill..any 1merestin.1hf: .Property is.sold ill 1T:ln<ITfiT-P.Ò (Dr if.BorroWfi
is .IlDr ~.IDII11nÙ J1eISon ..and ~ hF.np.fi r.i;J 1 iD1:eresr in..BorroWfi is .sold Dr 1T:rn <ITfiT-ed) without .Lt:nœr'.s :prior
written .consent, .Lender .may :require imlT1P.ni:rr~ payment in .full of Jill .Bll.IIlS !:~rl1T-P.n by:this ~
1m:tn11l1ffl1T. lfowe-ær, :this option .Eluùl.IlDt be -f'Yfl"ri~f'.r! by.Lender if .such -f'Y~r~ise is prohihir~n by
.Aprli~;Jhlp...Law .
If.Lender -f'Y~ri!:~~:this oprion,.Lender.Eluùl ,gÎve.BorrOWfi.norice of ;Jrl'f'lfl";JTion. ìhe.norice.Eluùl
-provide Ji period of.IlDt less .:than 30 .1iay.s .from ::the lime ::the .norice is ,gÎ1æIl in accrrrn :rnre w.irh .&.ction 13
-witlrin -which ..Borrower .:must pay Jill .Bll.IIlS !:f'rJJTf'n by:this Becnrity Tm:tn1TI1p.nT. If.BorroWfi:tills 10 p.ay
1büse .Bll.IIlS prior 10 ::the -f'xpirmion of:this period, .Lender .may invoke .any T-P.1T1f'nj.p~ :pF.1TI1ÎTTf'n by:this
5ecurity Tm:tnTInFntwiIhout.::fm:tlær.norice ill œTmmn on..Borrower.
.1.9. .BDITower'.s .Bight 10 "Rpim:tBtf' :.After -ÁrN"If'TBtinn. If ..BorrOWfi ~ .œrrain ..conniriom,
:Borrower .M1ill..have ::the IigbI 10 ..have t!TlforœmFnT .of :this Becnrity TmmTInFnT Iii ~P.OTlrinnf'n Jit..any J:ime
:prior 10 ::the:earliest of: (1I)::five .1iay.s befor-e ~ of::the.Propmy :pnn:mnT 1O..any pOWfi of ~ c:onT;Jinf'n in
.1h:is 5ecurity Tm:tnTInFnT; (b).such ~ period.liS ..Appli~;Jhlf' ..Law .:mighr .specify :fur :the ifmllin:ITÎon of
..BorrOWfi'.s IigbI 10 Tf'iTl¡:],;JTf'; Dr (L:) ~ of Ji jnrl.zrrwnT fTlforrinz .1h:is Becnrity lm:1TJTInFnT. J:ho.se
..connmom J'I:œ 1ha1..Borrower: (11) p.ay.s .Lender Jill .Bll.IIlS w.hich :!hen wOllld be .rlue .nndt:r :this 5ecurity
Tm:1TJ11l1ffl1T.2I1d:the N01:e.liSif:no ;Jrf'Plfl";JTÏon..had orrnrT-P.n; (b)..cures..any ~I of..any ~ ro~.or
;J p"-f'P.1TIf'TIT~; (L:) pays Jill ~XJIF.n ¡T'~ m~nTT~n in -f'TlforrÎTIE; :this Becnrity Tm:mTInf'nT, mrlllnin l, but:not.limired
10, :reasonab1-e .mrorney.s' fees, propmy in.specrion.2I1d V;J111;Jrion :fees, ..and ~ fees iT1~l1rrf'iI for ::the
pmpose of prot.ecting .Lt:nœr'.s .:imer:esr in :the .Propmy ..and :r.igln:s liIlder :this Becnrity Tnm-llmt>TIT;..and (.d)
:takes.snch..action.liS..Lender EaJ :reasanably -:require 1O.liSSlJ.I:e!hat .Lender'.s imeres:t in::the ..Property .2I1d
:rights.nndt:r:this 5ecurity Tnm-llTT1f'TlT, ..and..BorroWfi'.s ohhg;JrioTl IO p.ay::the.Bll.IIlS !:~rJlTf'n by:this ~
TTlm-lTInFnT,.M1ill .I:0IJ!Înlle lmrh;J~n..Lender.may:require 1ha1..BorrOWfi:P4Y .such Tf'insT;JTf'TIH>T11 .Bll.IIlS..and
-f'XJIF.n ¡T'~ in one ill.:more of.:the followiIJ.g :forms,.liS ~lf'M"f'n by Lender: {a)..cash; (b):money .order; (L:)
œrtifi~n .I:heck, illmk.I:heck, 1T-p';J~llT~'S ~ ill .I:.aSl1reI'.s.I:heck, proviœd..any .such ~is ..d:rawn.llpon
..an mmrmion -whose..depos:i1s M-e m"'lTf'nby Ji.feder.aLagency, inm-l1TI1FnT;Jliry Dr fD1ÎIy; or (d).E:ecrronic
:FJm.ds IT:m!ITf'T. Upon rf'in¡;TI¡Tf'1T1F.nT by .Borrower, :this Becnrity Tnm-lTInF.nT.2I1d oh 1 iZ;Jri om ~~lJT-P.n ~b'y
..5luill:remain .fully £ffecrive.liS if.:no ~rl'f'lfl";Jrion..had Orrl1TT-en. .Howe-ær, :this:right 10 Tf'in¡:],;JTf' ..shall:nor
-4pply in::the.I:aSe of ;Jrl'f'lfl";JTion liIlder "f'mon lB.
.20..5ale ill .Note; Change of Loan .5ervicer; Notice of GrieV.lUl.Ce. 1JJ-e N01:e ill ~ panial.TInerestin
::the N01:e (logether with :this Becnrity Tnm-lTInFnT) ..can be .sold one or .more .J:irœs withour :prior.norice 10
..BorrOWfi. A ..s.ale ~ :result in Ji .cl1a:ng-e in ::the fD1ÎIy (known.liS::the 'l.o.an..&:rvicer")!hat..calle.ct:s
.PfiÏodic .PJiyments .rlue.nndt:r .:the No1:e.2I1d :this ~ Tnm-lTInFnT ..and ]1P.1fnrm~ ~ mnrT.ß;J.3f' loan
.BeIVicing Dhlil:ITÎon~ .nndt:r::the Nme, :this Becnrity mm-l1TT1f'TlT,.2I1d Æ.pplicabl-e law. J:here.also ~ be
one ill:mor-e ~h :mzt"~ of::the.Lo.an..&:rvicer lTTITf'l ;JTf'n10 Ji ~ of::the N 01:e. If .1:bfi-e is Ji.chang-e of:the.Lo.an
..&:rvicer, ..Borrower will be,gÎ1æIl written.norice of:the.chang-e -which will..state :the:name..and ;Jnrirf'~~ of::the
~w .Lo.an .5ervicer,.:the :¡nnrf'~~ 10 which p.ayments..shollid be.:mad-e.2I1d..any ~ infnrm;JTinn .RESPA
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T~I)J1ÌT~~ in ~Minn with Ji:notice of 1IlmSfer ill -BeIVicing. Jf ~ Note is 5Dld..and ìh~~:rfrf'1" ~ J...oan is
.5fiVÏœd by Ji.Lo.an Ecrvicer other 1han.Ihe pl1T~h:lQ~ of~ Nore, .Ihe TI10TtZ:I~~ loan ~ onliEBtinn~
to ..Borrower will EII1aÙl with .Ihe.Lo.an Ecrvicer or be ìnrnIT~~ 10 Ji .5llCCeSSor J...oan Ecrvicer ..and lire JlOt
B~"l1TTIf'.lÌ by~ Note:p1TITnB"~ JmJ.t:ss D1:l1e:rwiseJll"0v:ided by.Ihe NoreJ111T~h:l"~.
Nt:i1:bfi .Borrower ..nor .Lender:may ID1T1TTIffllœ, join, or be joined 10.llllY judicial.liCIÎon (liS ~ .llll
individual Jiripnt or .Ihe TI1f!JT1~ of 11 .clß.ss) 1hat.m:ises from.Ihe other parry'.s -'ICtions pl1r~l1:Inr 10 1bis
.Becurity Tm:trrmwT1T or 1hat.allt;ges 1hat me D1her parry .has hr~:I~hf'lÌ.llllY :provision of, or.llllY .dmy ovæd by
:reason.of, 1bis .5ecm:ity TnrnI1TT1ffllt, .J.IIJ!il.such..Borrower or.Lender.has Tlotifif'.lÌ ~ other party (with.such
.:norice ,g:ÌVf11in ~liBnœ with.Ihe :reqnÌTf!JT1P.11H of ~r.tion 15) ill.such~ breach..and morlÌf'lÌ.Ihe
~ party krero .ll :reasonable :period .ÄÍIeI ~ ,g:ÌY-ing of .such :notice 10 1ak:e ~orrecriVf .ll.CIÍon. ]f
...Appli~Bn1f' law Jll"ovi.des 1I1:Íme])WOO which.:must:clßpse bdor~.œrtain.llCIian.r:an be xaken, 1hat 1:Íme
J>eIÍod will be Òf>f'Trn>lÌ 10 be :reasonable for :pn:rposes of:!his :p;rr:lUTh. The:notice ill B~{'f'l~:TIion ..and
rpponmrity 10 ..cur~ ,gÎVf11 10 .Borrower :pnr~mrnt 10 ~r.tinn.2.2..and.Ihe:notice ill :I~{'f'~:lti¡m ,g:ÌVf11 10
...Borrower :pnnm mlt TO ~f'r.ti nn 18 .shall be ~f'.lÌ 10 5alÍ5:fy ~:notice..and opponmrity 10 1ak:e 1:orr~Miv~
.ll.CIÍon Jll"OVisions ill:!his .5ttrion.20.
.21. .Bazar1ÙWS ~nhrtanl'f'li¡. .ÂS .used in:!his ~f'r.tion.21: (11) "Hazard0llS Snh¡rrmlœs" lire .those
¡;;]lh¡;Ymlœ~ lÌfflnf'lÌ liS 1:OX:ic or n:l7;rrlÌ011" !;nh¡rranœ", :pollmmlt", or ~ by .EnVÎTnnrrw.nt:ll..Law..and ~
jill}0wiD.g ¡;;]lh¡rrmlN',,:p~olmf', Jœrosene, D1her fI:rrmn:lnlf' or -:toxic:pmareum ])IodllCts, 1:OX:ic J1P..m~irlf'Q
..and~, volatiltuiolv.ems, -m:ltf'rÎ:I 1 ~ eont::rinin Z.llSbe5tos or form:l llÌf'hy.de,..and T:llÌioBr.tîw T11:1Tf'rÎ:I 1" ;
(b) "Env:i:rC1Tl1Tlffl1tBl..Law".:means :í":eœnI1Jß.w.s ..andJß.w.s ill.Ihe jlIri~diMinn wære.IhehDpfiIy islor:ared1hat
Tclate 1O~, -5afe1y or 1IDWC111TT1P.nt:ll ])Iot~Minn; (L:) "EnvirC1Tl1Tlffl1T:ll rlf'ml11J''' m~lnlÌf'~.llllY:re.spanse
.ll.CIÍon, TfflTIf'lÌi:ll.llCtion, or::remDv1ILaction,.lIS ~lÌ inEnvirC1Tl1Tlffl1T:ll..Law; ..and (.Ii).llll "EnvirOTITT1ffl1T:ll
Condition" .:means .ll .crmdition 1hat .r:an .l:allSe, .r;ontrîhmf' 10, or D1:l1e:rwise ::trigger .an EnvirOTITT1ffl1T:ll
rlf'ml1'T.
:Borrower .shall JlO! .l:allSe or J>1=DllÎ! :1he J1T~!æTlœ, JlSe, mspos.al, ~, or:release .of..any H :rz;rrlÌ 011~
~l1n¡rrmlœ~, or 1ì1r~:ffi>n lO:release..any H :l7;rrlÌ011 Q Snh¡rrmlœQ, .on or in .Ihe .Property. .Borrower -5hßllJlOt ..do,
~ ßlow ..anyone ocl.se 10 ..do,.anyfiring ::rfff'Min.z:1he.PrDpfiIy (1I.).1hatis in viohtion of.any:En.v:i:rOTITT1ffl1T:ll
law, (b) which J:re.a1e5 .an.EnWOTITT1ffl1T:I 1 Cnn diti on , or (L:) which, Jllie 10 ~ J1T~~ffllœ, JlSe, or:release of Ji
.:J1:rz:lrlÌollQ Snn¡rranœ, J:re.a1e5.ll ~nnlÌition 1hat.lldvers:e1y.lifrer::ts.Ihe v..alue of.Ihe .Propeny. The :pr~N'lÌinz
ÎWo "'ffllTf'!Tlœ~..shall:not.1lpp1y 10 .Ihe J1T~!æTlN', JlSe, or ~ .on .Ihe .Propmy ill -5IIlall I)mrntitif'~ .of
.:J1B7;rrlÌ011~ Sl1h!:fmlœ~:1hat lire zr.rn-r:llly r:ecOVT7f'.lÌlO be..appropriate 10 :norm.a1 T~~idP.TlTÎ:ll J.1SeS..and 10
on Bimf'!Tl mlœ of.Ihe.Property (mdnlÌinZ, bntJlOl Jinri!ed 10, h:rz;rrlÌons 511bstanœs in ~on ~l~:prodllCts).
:Borrower .shall :promptly ,gÎVf.Lender w:ri:rren.:norice of (1I.)..any inve.mZ:ltion,..claim, df!JT1anlÌ, Jaw.suit
or D1her .llCIian by .any ,gOVffl"J1T1w.1lT:I 1 or Tf':£?ll :ltnry.llgeDCy or ]IriV..a1e parry involY-ing .Ihe .Property ..and.llllY
TI:l7;rrlÌom Slln¡;Ymlœ or .EnWonmffllT:ll ..Law ill -whicl1 :Borrower J1.as .llC!ll.al Jmowledge, (b)..any
.:EnvirnnmffllT:I 1 OmlÌiti nn. mdnlÌÏTI,g imt .:nol1llnited TO,.llllY ¡;pîllin.z, l~;¡ kin Z, ili ~~n :lrU, :release or.1hreat of
.Iclease ill..any ::¡::J:l7;rrfÌom ~l1n¡rranœ,..and (~).lllly l'1111lÌÌTion £allSed by.Ihe :pr~~f'!Tl{'f', JlSe OT:release ill Ji
TI :l7;rrlÌ0l1 ~ ~nn¡rrmlœ -whicl1-a.dverscly .1rl':fects ~ V4lue ill:1he hDpfiIy. ]f .Borrower learns, or is JlO1i:f:i:ed
by..any ,gOV:f!1"lTTTIffllt:l 1 or Tf'ZJl 1 mnry :lrrfl1 nriTy, or..any ]Iriv.are J1m1Y, .1hat .any :remov.a1 or other TfflTIf'lÌi:lti on
.of.llllY H:rz;rrlÌom Snn¡;tmlœ ::rff~Minz1be.Propeny is~{'f'~~::rry,..Borrower -5hallJlIomptly1ak:eßl-nf'œQ~::rry
ï-fflTlf'ili:ll ..actions in .llCCrtT"lÌanœ with EnwC1Tl1Tlffl1t:ll ..Law. No:1lri:ng l1t:rcin -5hßll x:reate..any DnliZ:ltion .on
~ for ..anEnvirOTITT1ffl1T:I 1 Clf'an1'T.
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NON-DNJFORM COVENANTS. J30II0~ ..an.dl:.ender:f:unher £Oven.:mt..an.dllgree..as follow.s:
..22. Árrl>JPnrtion; 'R-Pml'rlif'!;:. 1 .f'nrlPT .Jiliall ~ve:aotice to.Bon-ower priorÍO jlrl'f'IPT~non following
.:Bon-ower':s breach ill ..any £DVf.WUÚ or..agrœment In ibis Sf>rnrity TndMlrnf>nt (but -DOt: prior ÍO
jlrl'l']l>TjlnOn J1D.de:r fV.rrion.18.unless .ÅJ>plir~hll> Law provides otherwise). The:aotice.Jiliall :specify: (a)
"the dl>fjlldt; (b) the.2dion xegnired to J:Ure the rlf>fjllllt; (C) ~ J:late, -DOt less than 30 .rlaYli from the.date
the:aoticeJs ~V£D to.Bon-ower, by w.hichthe dpf~1I1t must beJ:Ured;.JUUl (d) íhaíiailureÍO J:Urethe
.Jlefa.ult DD Dr beforethe.date~rifif>iljnthe:aotice;may x:esnl1Jn ~rl'f'1f>Tanon illthe51lDlS:SeaIred by
ibis ~f>rnrity lnsir.mnen1.JUUl.we of the .Propert}'. The JlOt.iœ .Jiliall îurth.er morm .Bon-ower ill the
:right ÍO Tl>jnd~tf>.After jtrl'f'Il>Mltion.JUUl1heIigh1 to .hring~ œnrt.2dion to ..a1iSertthe~ nf
:~ df>fjt~l1t ill"..any other rlP.fl>n¡¡t> ill .Bon-ower to jtrl'f'l"'Mltion .JUUl-Bale...1f the rI",fjlnlt is -DOt.cu.red {)Jl ill"
!before"the.date:SpPrifiI'rlJnthe:aotice, l.f'ndf>T.a1.its opiiOIunay xegnire imrnf>r'li~1-f> pay.mentJn:fuIlof
~ 51lDlS.5eCIII'ed by ibis Sf>rnrity IndMlJDf>nt without -furthf>T rn.m~nr'l.JUUl..ma}' invAke the power nf
[.we .JUUl..any other Tl>rnl'rli~ permittl'rl by -ApplirJ¡hlf> Law. 1 ,ponr'lf>r .Jiliall be p:ntitlf>rl to .collec:t ~
!~n~ .ïn.cu.n-edJn PIT¡¡ning thexprnf>rlif'¡¡ prov.idedJn ibis fV.rrion..22, inrlnr'ling, bnt.notlirnitprl to,
iXfaSonable mio1"Jlf>Yli' 1'œs.JUUl £OSts of:title fridence.
[
[ -If T pndf>T JnvoJœs the power ill.£ale., 1 .f'nrlf>T .Jiliall ~v.e:aotice of..inren1 ÍO i'or.eclose to .Bon-ower
:.mm to "the person..in ~¡¡~¡;:ion of íhe .Property, jf .different,..in ~rrnTrlanrp whh .ÅJ>plirahlf> Law.
l.f'nd"'T ~ .give:aoticeill the.we to .Bon-ower ..in íhe -mannf>T ]JI"ov.ided..in ~f'rlion.E. 1 .f'ndf>T .Jiliall
:pnhJi¡;:h the:aotice ill .£ale., .JUUl :íhe .Property .Jiliall be :sold In the rn:lnnf>T pr_rrihl'rl by .ÅJ>plirJ¡hll>
Law. 1 P.ndf>T ill".its rl~igJH'f'..may pnrcl1.a1ie1he.Property .a1..any.:Sale.. The proceeds illthe.we.man be
~plifd..in :íhe :following Drder: (a) ÍO .Jill PYpPTI¡¡~ of íhe~, inrlnrling, but .Dot limitl'rl to,
..reasonable mio1"Jll>Yli'1'œs; (b) to ~ 51lDlS:SeaIred by:this ~nrity -Instrmnmt;.JUUl (c)..any £U.eSS to
"the ~on or pen¡ODS Jegally -I'nfitlf>rl to.it.
23. ~pJf>jt¡;:l> IJpDn:pay:ment DfÆ5llD1S ;:i"rnri"n by1:his..5ecm:iry 1m;1T11mP.T1t,lenLlcr.sillù.LIeJ~ast:1:his
..5ecm:iry 1n"tmm~t. J30II0~ .sillù.1:pay -ÄIlY TeC.llTnHtion £0S1S. ~ ::may J:harge .BOIIO~ 41 ::fue :for
Ti"li"::!.m, Z 1:his ..5ecm:iry 1n¡;m1T11P.Tlt, bur illÙy jf ~ ::fue is J1aÍd 10 ~ jÌlÍffi parry :for 5eIVices T~nf"ri"n ..an.d ~
rnm-zinz Df~::fueis :J'IP.TI11ÏtTT'li JJI1der Appli~;¡hlf"1..aw.
24. W.BÍViXS. J3OIIO~ T-f"lf"::!~i"~ ..an.d w.æ.ves Æ :rigbIs JJI1der ..an.d by ìl:ÌI!:læ Df ~ nCTmf"!ITi"::!n
-P.Y-P.T11p1"Îon law.s DfWymn:in.g.
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..:BY .5IG:NING 3ffiLDW, ..:Barrowt:!" -4C.CepIS ..and -BgreeS :to :!he :tenns ..and £Ovenams r..ont::rmf'n ..:ÎIl1his
..5ecmity 1n!ITn1TIlf'11t ..and ..:ÎIl.1IIly Jllikr -f'Y f'rllTf'n by ..:Barrowt:!"..and T-f'C'.m.if'n v.d1:h it.
W~!,;!'If'!,;:
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~ovær
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VALfRII -RUTtJARITT -;Ban-ower
(Seal )
.,;Ban-ovær
(Seal )
.,;Ban-ower
(Seal)
~ower
(Seal )
Æan-ower
(Seal )
(Seal )
-;Ban-ower
-;Ban-ovær
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:by])A VID RUT-HARDT D nd VAŒRII RlJT-HARDT
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