Loading...
HomeMy WebLinkAbout923142 /' .J 'r:;; 0001.9·,: RECEIVED 10/612006 at 2:55 PM RECEIVING # 923142 BOOK: 636 PAGE: 195 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY rSpace Abo.. TlaIJ u... For ReCOrd/DI DOIa) --? 3AoctÚJ1 -Op... . Recording Requested by & When Recorded Return TO:MORTGAGE US Recordings, Inc. 2925 Country Drive Ste 201. MIN 1000157-0007208671_9 St. Paul, MN 55117 00014365874008006 (Doc IO t¡ @ ~, 4-/11 1(>.38'5.5",/ DEFINITIONS WortIs used m multiple sections of this document arr: defined below and other words are defined in Sections 3, II, 13, 18,20 and 21. Certain rules reprdin¡ the usage ofword5 used in this document arr: also provided in Section ) 6. (A) "Security ]lIStnuneøt" mellDi this document, which is dated AUGUS'l' 18. 2006 with all Riders to this document (B) "Borrower" is , together Marvin K.· Cox and Susan Cox, Husband and wif{;ì as tenants ëy the entirety. Borrower is the monp¡or under this Security Instrument (C) "MERS" is Mort¡a¡e Electronic Re¡istralion Systems, Ine. MERS is a separate corporation that is acting 501e1y as a nominee for Lender and Lendets sucœsson and lIS&igns. MERS is the mortgagee uDder this Security InstrumcDt. MEltS is organized and existing nuder the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. CD) "Leøder" is COUNTRYWIDE HOME LOANS. mc. Lender is a CORPORATION organized and existing under the !aws of NEW YORK Lender's address is 4500 Park Granada MSNi SVB-314. Ca1abasas, CA 91302-1613 (E) "Note" means the promissory nOle signed by BOlTOwer and da!cd AUGUST 18. 2006 . The Note states thai Borrower owes Lender TWO HUNDRED TM!NTY FIVE THOUSAND 'l'WO HUNDRED F.UTY and 00/100 Dollan¡ (U.S. S 225,250.00 ) plus it¡terest. BolTOwcr bas promised 10 pay this debl in regular Periodic Payments and to pay the debt it¡ full Dot later than SEPTEMBER 01, 2036 . (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property," WYOMING-Single Famlly-Fsnn/. MulFreddl. Mac UNIFORM INSTRUMENT WITH MERS p"go\oIl\ ~ ~WY) (000II) CHL r08lD5)(cI) VIoIP Motr;oga SaIuIIon., Ine. 1800)521-7281 COHVNA Form 3051 1101 IIIII11 1111111111111111111111 ·143B58740000DOZ006A· 'Z3SS1' 1·,~.·."""'I'~'.~t'.' ,~ 1'~~1.4JI I"."·I '·'· ~:::::::::::::::~f'~ ii¡ri~rf:!t~i: 0923142 DOC ID .: 00014365874008006 (G) "Lou" means the debl evidenced by thc Note, plu5 inlere51, any prepa)'IßCß1 chsr¡e¡ and laic charges due undcr the Note, aud all sums due under this Security lnstrument, p~ interesl. (H) "Riden" means all Riders to this Security IDstrument that are eKecwed by Borrower. The foJlowing Riders are 10 be executed by Borrower [check box as applicable]: B Adjustable Rate Rider 0 Condominium Rider D Second Home Rider Balloon Rider B Planned Vnil Development Rider BI-4 Family Rider VA Rider· Biweekly Payment Rider Other(s)[spccify] (I) "Applicable Law" means all controlling applicable federal, Slate and local statute&, regaJations, ordinances and administrative JUles and orders (that have the effect of law) as wdl as all applicable final, non-appealable judicial opinions. (J) "Community Assodation Dues, Feu, and A.lleIJIDtnts" means all dues, fee¡, lLSSCUments and other charges that are imposed on Borrower or the Property by a condoDÙniwn association. homeowners association or similar organization. (X) "Electronic Funds Trauier" means any transfer of funds, other than a transaction originated by check, draft, or sùnilar paper ÏDs1nIment, which is initiated through an eleclrDnic terroinal, telephonic instrUment, computer, or magnetic tape so IUi to order, ÎniIrUcI, or authorize a financial institution to debit or credit an acCOW1L Such term includes, but is not limited to, point-of-saJe transfen, automated teller machine transactions, transfeø initiated by telephone, win: transfers, aud automated clearinghouse transfers. (L) "Eauow Item¡" means th06e ileml that are descri~d in Section 3. (M) "M1seeUaneous Proceeds" means auy compensation, settlement, award of damages. or proceeds paid by any third party (other than insurance proceeds paid UJ1dcr the coveBges described in Section f5) for: (i) damage to, or destruction of, the Propcny; (ll) condemnarlon or other talcing of aU or auy part of the Property; (ill) conveysnce in lieu of condemnation; or (iv) DÙsrepresentations of, or omissions as to, the valuc and/or conØition of the Property. (N) "Mortgaee Jllsunuu:e" means in&urance protecting Lender against the nonpayment of, or dcfauJt on, the LOIJl. (0) "Puiodk Payment" means thc reguIar1y scheduled &mOunl due for (i) principal and interest under the Note, plU& (ii) &II)' ImOUDII under Section 3 of this Security JnsnumenL (P) "RESPA" means the Real Estate Scttlement Procedures Act (l2 V.S.C. Section 2601 ot seq.) and its imp1ementins re¡ulation, Rosulation X (24.C.F.R. Part 3500). as they might be amended from time to time, or any additional or succesaor legis1ation or regulation that govems the same subject matter. As used in thi5 Security Jnstrument, "RESP A" refers to all requiremCllts and restrictions that are imposed in regard to a "federally rclated mortga&e loan' even if the Loan docs nOI qualliÿ as a "federally relsted mortgage loan" W1derRESPA. (Q) "Suec:euor In Inœrest of Borrower" means any party that has taken title to the Property, whethcc or not that party has IISS1ImCd BoIrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY TIús Security Instrument secures 10 Lender: (i) the repaymcnt of the Loan, and all renewals, extensions and modifications of the Notc; and (ii) the performance of Borrower's coVCDIDts and &¡œemoDts under this Security Instmment and the Note. For this purpose, Borrower doea hereby rnortg8se, ¡rant and convey to MERS (solely as nominee for Lender and Lender's succcaaors and assigns) ed 10 the SUcc:essors and BSsigns ofMERS, with power of sale, the following described property located in the COUNTY of LINCOLN [Type oflùcordiu¡ JUlÍldicÛDIl] [Nunc ofRccordin¡: Jurùdiction] SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. Parcel ID Number: which currentJy has the address of 124 BROOK VIEW LN. SMOOT [S~I)'] Wyoming 83126 ("Property Address"): [Zip Code] ~ -ilA(WY) (0005) CHL (08105) Pal!"2of11 Form 3051 1101 00019~ '·-'.'_...n~..,..,.. ~¡iliiliî~1j!~ITÆ 0923142 000:197 DOC ID t: 00014365874008006 TOGETIiER WITH all the improvemenlS now or hereafter erected on thc property, and aU easements. appU1'telianccs. and fixtures now or hereaftcr a part of the property. All replacemenl5 ana additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agreC5 that MERS hold. only le¡al title to the interests granted by Borrower in this Security Instrument, but, ifnecesssry to comply with Isw or CU5tom, MERS (as nominee for Lender and Lender's 5IICCcssoTS and asaigns) has the ri¡ht: to exercise any or all of thO$C interests, including. but not limited to, the right to foreclose and sell the Propeny; and to take any action mplÎred of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the C5tate hereby COIIveyed and has the right to mortgage, grant and convey the Property and thai the Property is unencumbered. except for encumbrance¡ of record. Bon-ower WBlTanI5 and wiJJ defend generally the title to the Property agaÎD$t all claims and demands, 5Ubject to any e/1CW11brances of record. THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-unifoIID covenants with limited variations by jwisdiction to constiwte a uniform security instrument covering rea] property. UNIFORM COVENANTS. Borrower and Lender covenant and agree a¡ foJlows: I. Paymeat of Principal, Interest, Esc:row Items, Prepaymeat Charg., and Late Char:es. Borrower shall pay when due the priDcipaI of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shan also pay funds for Escrow Items pursuant to Sc:cûon 3. Paymeu!i due under the Note and this Security Instrumcnt shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Sccurity lnstnunent is returned to Lender unpaid, Lender may require that any or aD subsequent payments due under the Note and this Security Instrument be made in one or more of the foJJoWÎng forms, as ¡elected by Lender: (a) cash; (b) money order; (c) certified check. bank check, treasurer's check or cashier's check. provided BIIY such check is drawn upon BII instiwtion whose deposits arc insured by a federal agcocy. instrumcotality, or cotity; or (d) Electronic FWI(!s Tl1ID&fer. Paymcots are deemed received by Lender when received at the location designated in the Note or at such other location 81 may be designated by Lender in accordance with the notice provisions in Section 1 S. Lender may BlUm any payment or partial payment if the payment or partial payments arc insufficient to bring thc Loan CUITCIlt. Lender may accept any paymcot or parûaI payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the: future:, but Lender i¡ not obligated to apply such payments at the time such payments arc accepted. If each Periodic Payment is applied as of its scheduled dac date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to briDg the Loan current. If Borrower does not do iO within a reasonable: period of time, Lender shall either apply IlUch funds or return them to Borrower. If not applied earlier, such funds will be appJied to the outstanding principal balance under the Note immediately prior to foreclosl!rc. No ofl'¡et or cIs.im which Borrower mi¡ht havc now or in the future against Lender shall relieve Borrower &om making payments due under the Note and this Security Instrument or perfonning the covenants and agreements &ccured by this Security lnstJument. 2. Application of Payments or Proceed¡. Except 81 o~ described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order- of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such pay¡:Dents sball be applied to each Periodic Payment in the order in wlúch it becamc dUe. Any rema.ining amount¡ shaJJ be applied fust to late charges. second to any other amounts due under this Secwity Instrument, ana then to reduce the principal balance of the Note. If Lender receives a payment fi-om Borrower for a dc:Jinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinque:nt payment and the Iste charge. .If more than one Periodic Payment is outstanding, Lcnder may apply any payment rcceived &om Borrower to thc repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To thc extent that any excess cxists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepaymcnts shaJJ be applied first to any prepayment charges and then as described in the Note. kly application of payments, inSUIilDCe proceeds, or Miscellaneous Proceeds to principal due under the Note sbaIJ not cxtend or postpone the due date, or change the amount, of the Periodic Payments. 3. FDDds for Escrow Items. Borrower shaD pay to Lender on thc day Pcriodic Paymcnts are due undcr the Note. until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for. (a) taxes and assessments and othcr items which can attain priority over this Security Insáumcnt as a licn or encumbrance on the Property; (b) leasehold payments or ¡round rents on the Property, if any; (c) premiums for any and aD insurance required by Lcnder undcr Section 5; and (d) Mortga¡¡e InslllancC premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mongage Insurance premiums in accordance with thc provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and AssesimenlS, if-any, be escrowed by Borrower, and such daes. fees and BSSC&5ments shall be an Escrow Item. Borrower shaJ) promptly fiuuish to Lender an notices of amounts to be paid under this 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 to pay to Lender Funds for my or all Escrow '=t.aA(WY) (0005) CHL (08105) Page 301 11 Form 3051 1101 r::::::ir~§::::::j:~: M':·1.>'~.~:.~!:.) ~mi~~~l~~~fi~~:'~~ ~:::::::~:;:r:::::<;:; ::j;~;fu:$.:~;:::;:::: OS23!'4~ DOC ID #: 00014365874008006 Items at any time. Any such waiver may only be in writing. In the event of such waiver, BOlTower shall pay directly, when and where payable, the amounts due for any Escrow Item¡ for which payment of Funds has been waived by Lender and, if Lender requÎre$, &hall furnish to Lender receipts evidencing such payment within such time period as Lender may' require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained ÌII this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If BolTower is obligated to pay Escrow Items directly, pursuant to a waiver, and ÐolTower faiJ& to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay 10 Lender any such amqunL Lender may revoke the waiver as 10 any or all Escrow Items at any time by a notice given in accordance with Section IS and, upon such revocation, Borrower shall pay to Lender aU Funds, and in sucb amounts, that are then required under this Section 3. Lender may, at any time, coJJect and hold Funch in an amount (a) sufficient to permit Lender 10 apply the Funds at the time specified under RESPA, and (b) not tò exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funch due on the basis of current data and reasonable estimate¡ of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funch shall be held ÌII an institution whose depœits are insured by a federal agency, instrumentality, or entity (includin¡ Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shsll not charge Borrower for holding and applying the Funch, annually analyzing the escrow account, or verifying the Escrow Items, unless LeDder pays Borrower interest on the Funds and Applicable Law pcmù.ts Lender to make such a charge. Unlcss an agreement is made in writing or Applicable Law req~ interest 10 be paid on the Funds, Lender shall not be required to pay BOlTower any intere¡t or eaminp on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as zequired by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA. Lender shall account tò Borrower for the excess funds in accordance with RESPA. If ~ is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shan pay to Lender the amount necessary to majce up the shortage in accordance with RESPA, bnt in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA. Lender shall notify Borrower u n:quired by RESPA, and Bonower 5haI.I pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all &Um:i 5CCIIfed by this Secwiry Instrument, Lender &ball promptly refund to Borrower any Funds held by Lender. 4. Chllrlü. L1eus. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable 10 the Property which can attain priority over tJú¡ Security Instrument, 1easchold payments or ground rents 0Jl the Property, if any, and Community A.ssocialÎOJl Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Secti0Jl3. . Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the !lbliption secured by the lien in a manner acceptable to Lender; but OlIIy so long as Borrower is performin¡ such a¡reemcnt; (b) contests the lien in Hood faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secu.rcs from the holder of the lien an agreement satisfactory to Lender mbordinating the lien to tJú¡ Security Instrnmcnt. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Insb'Ument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date: 0Jl which that notice is given, Borrower shall 5atisfY the lien or take one or moze of the .actinns set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service U5ed by Lender in connection with this Loan. 5. Propert)· IDlUl"aDce. Borrower shall keep the improvements DOW existin¡ or hereafter erected an the Propa1y insured against loss by fire, hazards included within the term "extended coverage," and any other hazards includin¡, but not limited to, earthquakes and floods, for which Lender requires insurance. This insmance shall be maintained in the amounts (including deductible levels) and for the periods that Lender req~. What Lender rcq~ pursuant to the preceding sentences can change during the teon of the Loan. The insurance 'cani:r providing the inswance shall be chosen by BolTower subject 10 Lender's right 10 disapprove Boaowcr's choice, which ri¡ht shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, e.ither: (a) a one-time charge for flood zone delcmtination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification serviccs .and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall aJ¡¡0 be responsiblc for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting ftom an objection by Borrower. If Bonower fåjls 10 maintain any of the coverages descn"bed above, Lender may obtain inswance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of covenl¡e. Tberefore, such coveœge shall cover Lender, but might or mi¡ht not protect Borrower, Borrower's equity in the Property, or the coDtents of the Property, against any risk, hazard Gt ~ 1OD0Ii) CHL (08I05) Page. 01 11 Form 3051 1/01 000198 ....'.. ,~~,-.~--..........._---_. -~,.".. , .. '-"~-- ..... ~"'~. 0923142. DOC ID .: 00014365874008006 or liability and might provide greater or lesser coverage than was previously in effect Borrower acknowledges that the C06t ,of the insurance covemre so obtained might significantly exceed the cost of insurance that Borrower cooJd have obtained. Any amounts di¡bursed by Lender under this Section S shall become additional debt ofBorrowcr secured by this Security Insuument These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice ftom Lender to Borrower reqOe5ting payment. All Û16urance policies required by Lender and renewals of such policies sha1J be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall bave the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipt¡ of paid premium¡ and renewal notices. If Borrower obtains any form of Û16urance coverage, not otherwise rcq1Ùred by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and sha1J name Lender as monpgee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. LeJider may make proof of loss if nOl made promptly by Borrower. UoJess Lender and Borrower otherwise agree in writing, any Îniurance proceeds, whether or not the underlying insurance was required by Lender, &hall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender'li 5Ccurity is not les5Clled. During such repair and restoœtion period, Lender shall have the right to hold such insurance proceeds until Lender baa had an opportunity to inspect sucb Propc:ny to en&Ure the work ha5 been completed to Lender's satisfaction, provided that such Înipccnon &hall be undertaken promptly. Lender may disburse proceeds for the repairs and restoratiOll in a single payment or in a series of pro¡ress payments as the work is completed. UoJess an agreement is made in writing or Applicable Law requirea interest 10 be paid on such insurance proceeds, Lender sha1J Dot be required to pay Borrower any inteTCit or earnings on iUch proceeds. Fees for public adjusters, or other third parties, retained by Borrower &hall not be paid out of the În£urance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasiblc or Lender's security wooJd be lIIssened, the Îniurance proceeds sbaII be applied 10 the sums secured by this Security Instrument, whether or Dot then due, with the excess, if any, paid 10 Borrower. ' Such insurance proceeds shaIlbc applied in the order provided for in Section 2. If Borrowcr abandons the Property, Lender may file, negotiate and aenIe any available illiUranCe claim and related matters. If Borrower does not respond wi thin 30 days ro a notice from Lender that the insurance camer ha5 offered to settle a claim, then Lender may negotiate and aett1e the claim. The 3o-day period will begin when the notice is given. In either event, or if Lender scqujres the Property under Sectioo 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any Îniuraoce proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund ofuneamed premiums paid by Borrower) undec all Îniurance policies covr:ring the Property, insoD.r aa such ri¡lus are appJicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or mstorc the Property or to pay amounts nnpaid under the Note or this Security Instrument, wbethcr or not then due. . Ci. Oècupancy. Borrower shall occupy, establish, IIIId nse the Property as Borrower's prillcipal rC$Ìdœce within 60 days after the execution of this Secmity InstrUment and shall cOlllÎnoe to occupy the Property aa Borrower's principal residence for at least one year after thc date of occupancy, unless Lender othecwise &gree& in writing, which consent shall not be unreasonebly withheld, or unless extenuating circwu$tances exist which are beyond Borrower's cootroL 7. Preservation, MaJateDaDce and Protectiou of the Property; Iuspecdoul. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on tho Property. Whether or not Borrower is re&iding in the Property, Borrower shall maintain the Property in order to prevent the Property ftom deteriorating or decreasing in value due to its condition. Unleai it is determined pursuant to Section 5 that repair or reatoœtion is not economically feasible, Borrower &hall promptly r~ir the Property if damaged to avoid further deterioration or damage. If ÎniIll1lllce or condelDllatÏon proceeds are paid in connection with damagc to, or the taking of, the Propc:ny, Borrower shall be TCiponsible for repairing or restoring the Property only if Lender has released proceeds for such pwposes. Lender may di¡bursc proceeds for the repairs and restoration in a single payment or in· a series of progress payments as the wad<: is completed. If the insurance or condemnation proceeds are not sufficient to repair or reatore the Property, Borrower is not relieved of Borrower's oblisation for the completion of such repair or reatoralÏon. Lender or its agent may make reasonable entries upon and inspections of tho Property. If jt has reasonable cause, Lender may ÍDspect the interior of the improvements on the Property. Lender shall give BolTOwer notice at the time of or prior to such an interior ÍDSpeCtiOll apcci1ÿing such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any pmona or cnnties acting at the direction of BorrowCl' or with Borrower's knowledgc or consent gave matcriaJly false, misleading, or inaccurate information or statements to Lender (or fiùled to provide Lender with material information) in ¡;onneclÏon with the Loan. Material repTCientations include, but are not limited to, representations conceming Borrowllt's occupancy of the Property es Borrower's principal residence. Gt -aA(WY) (0006) CHL (08105) P_SoI11 Form 3051 1101 ~;;~ftSt,i;-:i:';';':¡ ~::::~¡~:$.~::::::;:: .. n.';1 00019~ f~¡f~~~~~m¡~~:~ ,~,. ,.".,..,.., . , .. ,.. -.,'-" .... u_ 0923142 DOC ID .: 00014365874008006 9. ProteeUon of Leuder's Interest in die Property and Rights Under thJs Security IJlStrument. If (a) Borrower fail¡ to perform the covenants and agreements contained in this Security InstrUment, (b) there is a legal proceeding that might significantly affect Lenders interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, fur enforcement of a lien which may auain priority over thi5 Security In.uument or to enforce laws or regulations), or (c) BOJTower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in tbe Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and aecuring and/or repairing the Property. ·Lender's actions can incJude, but ere not limited to: (a) paying any sums aecurcd by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect ilS interest in tbe Property and/or rights under this Security Instrument, .incJuding its secured position in a banlcruptcy proceeding. Securing the Property includes, but is not limited to. entcrine the Property to make repairs, change loeks, replace or board up doors and windows, drain water from pipes, eliminate building or otber code violations or dangerous conditions, and have utilities turned on or off. Altbou¡h Lender may take action under this Section 9, Lender does not have to do 10 and is not under any duty or obligation to do so. 1t is agreed that Lender incurs no liability for not tsking any or all actions authorized under thi$ Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt ofBorrowCl' secured by this Security Instrument. These amounts shan bear interest at the Note rate from tbe date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. Jf this Security Instnunent is on a leasehold, Borrower shall comply with all the provision$ of the lease. If BorrowCl' acquires fee title to the Property, tbe leasehold and tbe fee title shaJJ not merge unIcs¡ Lender a¡rcca to the merger in writing. ' 10. Mortpee Iasurance. If Lender required Mort¡aae Insurance a¡ a condition of making thc Loan, Borrower shall pay the pæmiums required to maintain the Mortp¡e Insurance in effect. 11; for any reason, tbe Mortpge Insurance coverage required by Lender ceases to be available from the mortgage insurer that previoU$1y provided such insUIaIJce and Borrowcr was required to lI18ke separately de$ignated payments toward tbe premiums fur Martple.lnsurance, Borrower shall pay the premiuma required to obtain coverage substantially equivalent to the Mortgage 1nsurance previously in effect, at I cost substantially equivalent to the cost to Borrower of tbe Mortgage 1nsw-ance previoU$1y in effect, from an altcma1e mort¡age insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage ia not available, Borrower stuill continue to pay to Lender the amount of the separately designated paymen!$ that were due when tbe insurance coverage ceased 10 be in effect. Lender will accept, use and retain tbese payments as a nOli-refundable loss reserve in . lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstandin¡ the fact \ha1 the Loan is ultimately paid in full, and Lender shall not be required to pay BolTOWer any interest or earnings on such loss reserve. Lender can no longer require los5 reserve payments if Mort¡a.ge Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by LandCl' again becomes available, is obtained. and Lender require¡ ¡eparately designated payments toward the prenùums fur Mortgage WUlUICe. If Lender required Mortgage Insurance as a condition of makin¡ the Loan and Borrowcr was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to mainwn Mort¡a¡e Insurance in effect, or to provide a non-refundable loss reserve, untiJ Lender's rcquin:ment for Mortgage Insurance ends in accordance witb any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section JO affects BOlTowers obligation to pay interest at the rate provided in the Note. Mortgage lDsurancc reimburse¡ Lender (or any C!ltity that purchases the Note) for certain losses it may incur ifBorrowcr does not repay the Loan as agreed. Borrower ÎI not a party to the Mortgage Insurance: Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modifY their risIc, or reduce losses. These aareements are on term¡ and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortp¡e insurer to make payments using any source of funds that the morr¡age insurer may have available (which may include funds obtained from Mortgage Insurance premiums). ~ a TCSuit of these a¡¡recments. Lender, any purchuer of tbe Note, another insurer, any reinsurer, any other entity, or any affiliate of any of tbe furegoing, may receive (directly or indircctly) amounts that derive ftom (or might be characterized as) a portion ofBolrower's payments for Mortgage Insurance, in exchange fur sharing or modifying the mort&B8e insurers risk, or reducinli: losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a &hare of the prenúums paid 10 the insurer, the arrangement i$ often termed "captive reinsurance." Further: (a) Ally suçll agreement¡ will not affect the IDlODDt¡ that Borrower has ag~ to pay for Mort¡age IUDraacc, or au)' other tenIu of the Loan. Such agreements will Dot ¡uecease the amount Borrower will owe for Mortga¡e luurauce, and they wiD not Clltide Borrower to lilY refund. IGt -IA(WY] (0005) CHL (08105) ""ge6ofl1 Form 3D51 1/01 .o0020~. 092314Z DOC ID i: 00014365874008006 (b) Any such agreemlllts wW Dot affect the rights Borrower has - if any - with respect to the Mortpie lJUuranœ UDder the HomeoWRen Protecöon Act of 1998 OF aDy other Jaw. These rlghb may intlude the right to reœive certain dbtlosurel, to request aJld obtain c:aa¡:eJ)aüon of the Mortgaae . )muranl:e, to bave the Mortgaae Insurlll1ce terminated automaöc:al1y, and/or to receive a refund of any Mortaaie IlIiuraDce premiums that were unearøed at the time of .uc]¡ cancellation or terllÚnatlon. 11. Assignment of MiKeJlaueow Proceeds; Forfeiture. AU Miscellaneous Proceeds are hereby assigned to and shall be paid 10 Lender. If the Propcny is damaged, iUch Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economica1Jy feasible and Lender's security is not lessened. During such repair and le5toration period, Lender shall havc the right to hold 5uch Miscellaneous Proceed¡¡ until Lender has had an opportunity to inspect such Property to eusme the work ha5 been completed to Lender'5 satisfaction, provided that such inspection shall be undertaken promptly. Lender JDaY pay for the repaÏß and restoration in a single disbursement or in aseriea of pro¡ress paymenl$ as the work is completed. UlÙesS an agreement is made in writing or Appüable Law requires interest to be paid on such MiiCCllaneous Proceeds, Lender shall not be required 10 pay Borrower any interest or earnings on sncb MiiCcllaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, thc Miscellancous Procccd5 shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid 10 Borrower. Such Miscellaneous Proceed¡¡ shall be applied in the order provided for in Section 2. In the event of a IOtaI taking, destruction, or 10S5 in value of the Property, the Miscellaneous Proceeds shall be applied to the swns secured by this Security 1nstrument, whcther or not then due, with the excess, if any, paid 10 Borrower. 1n thc cvcnt of a partial taking. destruction, or loss in value of the Propeny in which thc fair market value of the Property immediately before the partial talcing. destruction, or loss in value is equaJ to or greater than the am01lllt of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrowcr and Lender otherwise agree in writing, the 'IDIIS secured by this Security InstrUment shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immo ( iat81y before the partial talciug, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking. destruction, or loss in value. Any balance WùI be paid to Borrower. In the event of a partial taking, destrUction, or loss in value of the Property in which the fair marlcet value of thc Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured inuncdiately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this SccDrity Instrument whether or not the IiIIDIS are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to BoIrowcr that thc Opposing Party (as defined in the next IiCIltcnCC) offen; to make an award to selÙe a claim for damaaes, Borrower fails to respond to Lender within 30 days after the date the notice is givcn, Lender is authorized 10 collect and apply the Mi&cellaneous Proceed¡ either 10 restoration or repair of the Propcny or to thc IUJDS secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower MiiCcl1aneow Proceeds or the party against whom BOlTower has a right of action in regard to Miscellaneous Proceeds. Borrowcr shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Londer's judgment, could result in forfcib.1n: of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding 10 be dismissed with a ruling that, in Lender's judgment, precludes forfeinue of the Property or other material impainncnt of Lender's interest in thc Property or rights under this Security lns1rument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Propcny shall bc applied in the order provided for in Sectioo2. 12. Borrower Not ReJeued; Forbearanu By Leader Not a Waiver. Extension of thc time for payment or modification of amortization of the 5UDJi aecured by this ~ty Instrwnent gmntcd by Lender to Borrower or any Successor in 1nterest ofBDrrower shall not operate 10 release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required 10 commence proceedings against any Successor in 1nterest of Borrowcr or to refuse 10 exrend time for payment or otherwise modify amortization of thc sums secured by this Security Instrumcnt by reason of any demand made by the original Borrower or any Successors in Intcrest of Borrower. Any forbearance by Lender in exercising any rigllt or remedy iucludina, without 1imitalion, Lender', acceptance of payments ñom third pcrsol15, enliliea or Successors in lntcrClit of Borrower or in amounts less than thc amount then due, shall not be a waiver of or preclude the cxercise of any rigl¡t or rcmcdy. 13. Joiut ud Several LiabfDty; Co-signers; Sua:_on and AslÍim Bound. Borrower COVCDants and a¡rees that Borrower's obligatious and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-siguer"): (a) is co-signing this Security at -IA(WY) (0006) CHi. (08105) f'ogo 701 11 Fonn 3051 1/01 ~:::¡:;:;::~-:Í'1ì*;~ ~.'.'.I,I.I.;:I.' I, ¡', .~~~+~" D0020:.\. ;0:-::f~E":;::-j;:-:': ~ilii~lìiii~:; -.-._...____0,__ .~_ -.....----.-. ___._.._.__~ __._m 092314~ DOC ID J: 00014365874008006 Jnstrument only to mortgage, grant and convey the co-signer's interest in the Property under the tenns of this Security Jnitrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) a¡¡rees that Lender and any other Borrower CAD agree to extend, modüY, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's COll$enL Subject to the provisions of Section J 8, Iny Successor in Jnterest of Borrower who assumes Borrower's obligations under this Security Jnstrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be reJeased from Borrower's obligation¡ and liability under this Security Instrument unless Lender Igrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except 15 provided in Section 20) and benefit the successors and assi¡ns of Lender. 14. LoaD Cbarge$. Lender may charge Borrower fees fur services performed in connection with Borrower's defauJt, for the purpose of protecting Lender's interest in the Propcny and rights under this Security Instrument, including, but not limited to, attorney¡' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Jnstrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fee¡ that are expressly proluòited by this Security Jnstrument or by Applicable Law. If the Loan is subject to I law which sets maximum loan charges, and that law is finally interpreted 50 that the interest or other Joan charges collected or to be collecrcd i¡¡ connectioD with the Loan exceed the permitted limits, then; (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennitted limit; and (b) any sums already collected from Borrower which exceeded pennined limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such ovcn:harge. 15. Notices. All notices given by Borrower Dr Lender in connecÙon with this Security Instrument must be in writing. Any notice to BOITower in cormection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrower¡ unless ApplicabJe Law expressJy requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower &haJJ promptly notifY Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of addresa, then Borrower shaJl only report a change of address through thlt specified procedure. There may be only one designated notice addres& under this Security Inmument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security lns1rument shall not be deemed to bave beOlt given to Lender unill actually received by Lender. Jf any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisíÿ the corresponding requirement under this Security Instrument. 16. Goveroiog Law; SeverabWty; RuJes of CoDstructiOIL. This Security Instrument shall be governed by fedcra1law and the law of the jurisdiction in which the Property is Jocated. AU rights and obligatiOll$ contained in this Security Instrument are subject to any requirements and limitations of Applicab]e Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but mch silence'shall not be construed as a proh.ibitiOll against agreement by contract In the event that any provision or cJBlI5C of this Security Instrument or the Note conflicts with AppJicable Law, such conflict shall not affect other provisiOJl5 of this Security InslJ'\lD\ent or the Note which can be given effcct without the conflicting provision. As used in this Security Instrument: (a) words of the mascuJine gender shall mean and include corresponding neuter words or words of the feminine gender¡ (b) words in the singular shall mean aod include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Jnstrumcnt. .18. Traalfer of the Property Dr . Beøet1daJ Interest ill Borrower. As used in this Section ]8, "Interest in the Property" means any legal or beneficial interest in the Property, incJuding, but not limited to, those beneficial interests transfcrTed in a bond for deed, contract for deed, installment salea contract or escrow agreement, the intent of which is the transfer oftitJe by Borrower at a future date to a purchaser. Jf all or any pan of the Property or any Jnlerell in the Property is sold or transfeJred (or if Borrower is not a natural periOD and a beneficia] interest in Borrower is 50Jd or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security lnsttument. However, this option shall not be exercised by Lender if such exercise is proluòitcd by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not Jess than 30 days from the date the notice is given in accordance with Section J 5 within which Borrower must pay all sums Iccurcd by this Security Instrument. JfBorrowec fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. ~ -6A(WY) (0005) CHL (08105) P_Iofll Form 3051 1101 -.:;~¡:;¡ìW~;:;~;'· .¡.;.!..;I~ .II'I¡"I"" "::".:;;1;,;".::::.,,-·' 00020~ 0923142 DOC ID ,: 00014365874008006 19. Borrower', Right to RcÍJ1state After AcceleradOD. If Borrower meets cenain conditions, Borrower 5hall have the right to have enforcement of this Security InstnlJDent discontinued at any time prior to the earliest of: (a) five days before sale of the Property Pllm1aDt to any power of sale contained in this Security IlIStI'Ument; (b) &uch other period as Applicable Law 1JÚ¡ht specify for the tenoination of Borrower's right to reinstate; or (c) entry of a jodgment enforcing this Security Instrument Those conditions arc thar Borrower: (a) pays Lender all &UD1i which then would be due under this Security Instrument and the Note as if DO acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incuned in enforcing this Security Instrument, inclodin¡, but Dot limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees inCUlTed for the purpose of protecting Lender's interest in the Property and rights under this Security Instnunout; and (d) takes such action as Lender may reasonably require to assure that Louder's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue' unchanged. Louder may require that Borrower pay auch reinstatemCilt &Um$ and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified chcclc, bank check, treasurer's check or cashier's check, provided any such check is dniwn upon an instittttion whose deposits lITe insUred by a federal agency, instnDnenlality or entity; or (d) Electronic Fundi Transfer. Upon reinstatement by Borrower, this Security IDitnDnent snd obligations secured hereby shall remam fully effective as if DO acceleration had occurred. However, this right to reinstate shall not apply in the case of åcceleration under Section 18. 10.·Sale of Note; CUBle of LoaD Servicer; Notice of GritVIlDCe. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale mi¡ht reau1t in B change in the entity (known as the "Loan Servicer") that collects Periodic Payments duc under the Note and this Security lu$trurncnt and ~ other mertNc loan servicin& obli¡ations under the Note, this Security lu$trurnent, and Applicable Law. There also mi¡bt be ODe or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be ¡ivou written notice of the change which will state the name and address of the new Loan Selvicer, the address to which payments should be made and any' other infoIJDation RESPA requires in connection with a notice of tran5Ícr 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 mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a luccessor Loan Servicer and are not ass1Ulled by the Note purchaser unless otherwise provided by the Note purchaser. . Neither Bonower nor Lender may commcnce, join, or be joined to any judicial action (as cither an individual litigant or the member of a c1ass) that arise¡¡ from the other party's actions pursuant to this Security Instrument or that allegcs that the other party has breached any provision of, or any duty owed by reason of; this Security Instrument, until such Boaower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reuonable period after the giving of such notice to take corrective action. If Applicable Law provides a åmc period which must elapse before certain action can be taken, that time period will be deemed to be reasonablc for pwposes of this paragraph. The notice of acceleration and opportunity to cun: given to Borrower pW-SUADt to Section 22 and the notice of acceleration giVCD to Borrower pursuant to Section 18 shall be deemed to satisfy the notice snd oppornuùty to take corrective action provisions of this Section 20. 21. Hazardou¡ Substances. As u.sed in this Section 21: (a) "Hazardous Substances" are those substances defined IS toxic or hazardous substancel¡, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petrole1Ull products, toxic pesticides and herbicides, volatile solvCilts, materials containing asbestos or formaldehyde, and radioactive. materials; (b) "Environmental Law" means 'federallaws and laws of the jurisdicâon where the Propeny is located that relate to health, safety or environmental protection; ( c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. BOITOWer shall not cause or permit the presence, use, disposal, stora¡e, or rclease of any Hazardous Substances, or threateQ to release any Hazardous SubSl4llces, on or in the Propc:ny. Borrower shall not do, nor allow anyone else to do, anything affì:cting the Property (a) that is in vioiation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that /idversely affects the value of tho Propeny. The preceding two sentences shall not apply to the presence, usc, or SIOla&e on the Pr:opcrty of small quantitiea of Hazardous Substances that are aencrally recognized to be appropriate to normal residential nses and to maintenance of the Propeny (includin¡. but not limited to, haurdous substances in consumer products). Borrower shall promptly give Lender written noûce of (a) any investigaûon, claim, demand, l/iwsui! or other actiOD by any governmental or reguJ/itory agency or priVIltC.party involvina the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. (b) any Environmental Condition, including but not limited to, any apillin¡, lealcing, discharge, release or threat of release of any Hazardous Substance, and (c) lilY condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is nOtified by any governmental or re¡uJatory authority, or any priv/ite party, that any removal or other remediaûan of any Hazardolli Substance aifcctina the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obliaatÎOn on Lender for an Environmental Cleanup. "'t -8A(WY) (0005) CHt (08/05) pog.e.'11 Form 3051 1/01 Ni: Nt:.:::::!::~:: ~~!.:.: ! :,jf:.;;;:;J 000201 ~Ii~f~~fmmt _._.__._-._-~-_.._.. 0923%~ DOC ID #: 00014365874008006 NON-UNIFORM COVENANTS. Borrower and Lender funher covenanl.and agree as foJlows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to accelersüon follow!ne Borrower's breach of an~' covenant or agreement In tIús Security Jmtrument (but not prior to acceleration under Section 18 un.les.s Applicable Law provides otherwise). The notice .ball 'peclfy: (a) the default; (b) the action required to cure the default; (e) a date, Dot Ie¡s tban 30 day. from the date the notice b given to Borrower, by whicb the default must be cured; and (d) that failure to cure the default on or before the date specified In the notice may result in acceleration of the sums secured by this Security Instrument aud sale of the Property. Tbe notice sball further inform Borrower of the right to reJnstate after acceleration and the rleht to bring a court action to assert the Ron-existelll:e of a default or any other defense of BOTTo~'er to acceleration and sale. If the default IJ not cnred on or before the date specified In the notice, Lender at Its option may require immediate payment in full of all sums .eeured by this Security Instrument wltbout further demand &lid may Invoke the power of sale and any other remedies permitted by Applicable Law. Lender shaD be eutltled to collect all expenses Incurred in puri11Ìn& the remedies provIded In this Section 22, includine, but nòt fimited to, reasonabJe attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender .ball give notice of intent to foreclOle to Borrower and to the person in pouesslon of the Property. if different, In accordance wltb Applicable Law. Lender shaD ¡lve notice of the sale to Borrower in the manner provided in Section 15. Lender.baD pubfish the notice of .ale, &lid the Property .baB be .old iu the maunlr }lrescrlbed by AppJlc:able Law. Le.nder or Its desipee may purcbase the Property at any .sle. Tbe proceeds or Ibe .ale .bsll be applied In the . fonowin~ order. fa) to all expeule' of Ibe .¡'¡e, Inc1nding, but DOt limited to, reasonable attorneys' fees; (b) to all sum. secured by this Security Instrument; and (c) any u.ce¡s.to the penon or per¡on. legally entitled to it. 23. Release. Upon payment of all sums secured by Ibis Security Instrument, Lender shall release this Security lnsb'UmenL Borrower shall pay any recordation costs. Lender may charge Borrower a fee for reJea&ini this Security Instrument, but on1y if the fee is paid to a third party for services rendered and the chargini of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue oflbe homestead exempúon Jaws ofWyODÙng. BY SIGNING BELOW, Borrower icce¡)ts and agrees to the temJs and covenants éontained in thi$ Security Instrument and in any Rider executed by Borrower and recorded with it 4~¿~(s.u) Marvin K. Cox ·Bona..... (Seal) -Bonowa- 5lwO~ ~~ Susan Cox (Seal) -Bona_ (Seal) -BOlI'Owet ~ -6A(WY) (0005) CHl (08105) Pogo 100/11 fonn 3051 1/01 000204. ..-.........,-,.,.... '. '~""""~'-"-~'~". STATE OF WYOMING, 0923142 000205 The fQre:J:g~µu_mcnt was acl~ge4 before me this by ,~ ( --- /p/' 00014365874008006 ~' County IS: ,.ç~ ec/ ^ rIu,-J ?r J1L DOC ID f: My Commission Expires: Ot~ I~)cof- VALERIE KITTREll - NOTARY PUBLIC County of State of LIncoln Wyoming - My Commission Expires April 19,2008 '" -6A(WY) (ODOS) CHL (08105) ~i;~Ú;CI(: ~J ¿fM/t,{?; NolaI'y Public ~ Valf:r, e. ~~ K.-J11rel' PiIg811 at 11 Form 3051 1/01 ~:;j¡;¡:m;~;;if~~; ~:;~; :}1;~~~~!Ir~ 0923142 00020~ DOC ID .: 00014365874008006 . COUDty IS: ~Cd/ "Ì by My CommissioD Expire&: Of tt.<Y I ~( ).cJo y 1~L Notary Public . VaJuif., -¡¿Þd~ K..ì +trtll VALERIE KIITRELl . NOTARY PUBLIC County 01 &. State of Unco/n ., Wyoming My Commlulon EKpitlì(j Ap , 1 HI, 2008 t VALERIE KITTRELl- NOTARY PUBLIC CounIy 01 & ..... cI UnooInW WyomIng. My Oorntnluion I:KplI'Q Aprtl19, 2008 . -6A(WY) (0005) CHL (08105) ,. Pose 11 of11 Form 3051 1101 -···...--........·,··'''''.··,--·"..._·'"'"-.--'-.._...........c........_..._n. ....,.........--....". 000207 0923142 DOC ID #: 00014365874008006 ADmSTABLE RATE RIDER (LmOR Index - RAte Caps) THIS ADJUSTABLE RATE RIDER Is made this EIGHTEENTH day of AUGUST, 2006 ,and is Incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of the same date given by the undersigned (the ."Borrower") to secure Borrower's Note to COUNTRYWIDE HOME LOANS, INC. (the -Lender") of the same date and covering the property described in the Security Instrument and located at: 124 BROOK VIEW LN, SMOOT, wy 83126 [property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: MULTISTATE ADJUSTABLE RATE RIDER· LIB OR INDEX - Single Family CONV . BC - ARM Rider 1U193-US (12105)(d) Page 1 of4 11111I1 "23991" m·'·'·"·'··,···......} ': i':'~~~~: ,;.;,~,;. ~"., ·;~:fu·:·:·:'~J:';:!I : w:í';..·:·:~:::;:; ':,¡N~S! :I:':'N~;~ :~:::::::::;:;'::*:f: ~ ;.;~.: ::1:~:'1'~ ,j : :;¡~~~;~If;¡Ji:;~;Tj ".. ...-...,...... '-. "..- " 00020~ ()S231~ DOC ID #: 00014365874008006 A.INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 9.000 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of SEPTEMBER, 2008 , and on that day every sixth month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the average of interbank offered rates for six-month U.S, dollar-denominated deposits in the London market ("UBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index.· If the Index is no longer available, the Note Holder will choose a new index that Is based upon comparable Information. The Note Holder will give me notice of this choice. (C) Calculation of Changes' Before each Change Date, the Note Holder will calculate my new Interest rate by adding SIX & THREE-QUARTERS percentage point(s) ( 6.750 %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new Interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date In full on the maturity date at my new interest rate in sUbstantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 10 . 500 % or less than 9 . 000 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than ONE & ONE-HALF percentage point(s) ( 1.500 %) from the rate of Interest I have been paying for the preceding six months. My interest rate will never be greater than 16 . 000 % or less than 9.000 %. (E) Effective Date of Changes My new Interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change D~te until the amount of my monthly payment changes again. CONV . BC - ARM Rider 1U193-US (12/05) Page 2 of 4 000209 OS~:J14~ DOC ID #: 00014365874008006 (F) Notice of Changes . The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Intere5t in Borrower. As used In this Section 18, "Interest In the Property" means 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, Installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest In the Property is sold or transferred (or if a Borrower Is not a natural person and a beneficial interest In Borrower is sold or transferred) without lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender If such exercise is prohibIted by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender Information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be Impaired -by the loan assumption and that the risk of a breach of any covenant Or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep an the promises and agreements made in the Note and in thIs Security Instrument Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower In writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given In accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of thIs period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. CONY · BC - ARM Rider 1 U193-US (12/05) Page 3 of4 ~;1;;::;:¡:¡'¡·:i;;~'J -",1'";'';!-õ! ;...~;.,,~ - \ ~.. ~¡. ;.,.>....,.".. ·~:t.t;:::'I~::~::;::~ t.·i"~¡r.·t"'·""'~~~; , , ~m~~~¡~~¡mm~y ...-...-......,...... ,. .,-~ ·Pl.~..-..-..~--~ - ¡ I i .00021 ~,! ! . . 0923142 DOC ID #: 00014365874008006 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider.· I 4~~¿ ~ . (Seal) 1 M K C - Borrower' arvin. ox ! CONY · BC - ARM Rider 1U193-US (12/05) 51,.0:. ~ {.p= Susan Cox ¡ i I (Seal) i - Borrower I (Seal) - Borrower (Seal) - Borrower Page 4 of 4 \ \;¡ , , ' -000211 ...... Exhibit A 0923142 THE FOLLOWING DESCRIBED TRACT OF LAND IN LINCOLN COUNlY, STATE OF WYOMING, TO-WIT: A PORTION OF THE SOlITHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 32, TOWNSHIP 31 NORTH RANGE 118 WEST OF THE 6TH P.M., LINCOLN COUNlY, WYOMING, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING ON THE SOUTH BOUNDARY LINE OF SAID SECTION 32 AT A POINT 330.00 FEET WEST FROM THE SOUTH ONE-QUARTER CORNER OF SAID SECTION 32, SAID POINT BEING THE LOCATION OF AN IRON PIPE SURVEY MARKER MONUMENTING THE SOlITHWEST CORNER OF THE SMOOT CEMETERY TRACT; AND RUNNING THENCE WEST, ALONG SECTION LINE, 985.07 FEET TO A SECOND IRON PIPE SURVEY MARKER; THENCE NORTH 0 DEGREES 08 MINUTES 27 SECONDS WEST, 330.001 FEET; THENCE EAST 849.64 FEET; THENCE NORTH 0 DEGREES 01 MINUTES 57 SECONDS EAST, 330.00 FEET; THENCE EAST 466.53 FEET, MORE OR LESS, TO THE EAST BOUNDARY LINE OF THE SOUTHWEST QUARTER OF SECTION 32; THENCE SOlITH 0 DEGREES 01 MINUTES 57 SECONDS WEST, ALONG THE SAID EAST BOUNDARY LINE 330.00 FEET TO AN IRON PIPE SURVEY MARKER MONUMENTlNG THE NORTHEAST CORNER OF THE SMOOT CEMETERY TRACT; THENCE WEST 330.00 FEET TO AN IRON PIPE SURVEY MARKER MONUMENfING THE NORTHWEST CORNER OF THE SMOOT CEMETERY TRACT; THENCE SOUTH 0 DEGREES 01 MINUTES 57 SECONDS WEST, 330.00 FEET TO THE POINT OF BEGINNING. LESS AND EXCEPT THE FOLLOWING DESCRIBED LAND: BEGINNING AT A POINT IN THE SOUTH LINE OF SECTION 32, T31N R118W, OF THE 6TH P.M., LINCOLN COUNlY, WYOMING, SAID POINT BEING WEST 330 FEET FROM THE SOUTH QUARTER CORNER OF SAID SECTION 32; THENCE WEST 985.07 FEET; TIIENCE NO DEGREES 09 MINUTES 27 SECONDS W, 330.001 FEET; THENCE EAST, PARALLEL, WITH SAID SOUTH LINE, 986.17 FEET; THENCE S 0 DEGREES 01 MINUTES 57 SECONDS W, 330 FEET TO THE POINT OF BEGINNING. Commonly known as 124 Brook View Lane Smoot, WY 83126 However, by showing this address no additional coverage is provided. \\lml!I~I~IIIIIII~~mlll\llmllillmlmli U33598967-82RD17 MORTGAGE LOAH. 143658740 US R..cordings , ' ......................., . " .. ....-. ... . .~'''''. ~.. sm~~