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HomeMy WebLinkAbout927618 G{/Z--3 /\"\~ Return To: PHBLC - POST CLOSING MAIL ROOM 1555 W W~ HtLL LN ~200 MC 6712 IRVX:NG. T% 75038 1315 SOUTH HZGKWAY 8', SUITB 101 JACKSON. WY 83001 RECEIVED 3/15/2007 at 3:44 PM RECEIVING # 927618 BOOK: 651 PAGE: 343 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepared By: FIRST HORIZON BOMB LOAN CORPORATION (Span Abon 'rhi. Lln' For R,cordlng D"'J aO!;U920n MORTGAGE DEPINITIONS Words used in mulliple sections of this document are dcfined below and other words arc deflned in Sections 3, 11, 13, 18,20 and 21. Certain rules regarding the usage of words used in dtls document are also provided in Section J 6, (A) "Security Instrument" means this document, which i¡ dated March 7th, 2007 together wilb all Riders to this documenL (8) "Borrower" is ùANA DAJlI:KAN, A Single woman t BOtTOwer i¡ the mòrtgagor under this Security Instrumenl. (C) "Lehder" is J'IRST HORIZON HOMB: LOA1 ' CORPORATION Lender Is a COlU'ORATZOH organ~ and eXÎsùng under the laws of THE STATB OJ' ltANSAS WVOMING.SingIQ Famlly-Fannis Mas/Freddie Maa UNIFORM INSTRUMENT 1IIIt-·(WY) ,..",." ~ Page 1 af 1& Initial.: VMP Mortgage sølutlOnJ~ Form 3061 1/01 1111111/ ~III ~~ 1111111111 1111/11/ \ '~ AUG-07-~uu~ 06:22 First Horizon ,'.26 0927618 000'44 Lender'saddress is 4000 HoriJ:OJ1 Way, Irving, Te:x:as 75063 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated Karch 7tb, 2007 The Nol.C SlateS thai. Borrower owes Lender TWO mmDllED SIXTY ~ THOUSAND SBVEN HUNDlUm THIJtTY &; 00/100 Dollars (U,S. $ 262, '30 . 00 ) plus ÎntorcsL Borrower has promised Ie pay this debt in regular Periodic Payments and to pay the debt in full not )ater thnn April bt:, 2038 . (E) "Property" means the property that L.¡¡ described below under the beading "Transfer of Rights in the Property," (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Insuument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower, The foUowing Riders are to be executed by Borrower [check box as applicable]: a Adjustable Rate Rider IX] Condominium Rider 0 Second Home Rider Balloon Rider 0 Planned Unit Development ~¡der D 1-4 Family Rider D VA Rider 0 Biweekly Payment Rider GJ Other(s) [specify] CONBTROCT~O~ LOAN RIDBa (H) "Applicable Law" means all controlling applicable federal, state and local Slatutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as weD as all appJicable fmal, hon-appealable judicial opinions. (I) "Community Auociation Due", Fees, and Assessments" means aU dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium associåtion, homeowners association or sianilar organization, (J) "Electron¡ç Funds Transfer" means any transfer of funds. other than a transaction originalCd by check, draft, or similar paper instrument, which is initiated through an elec::lronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or aulhorize a fInancial institution to debit or credit an accounL Such t.enn includes, but is not Jimitcd to, point-of-sale transfers, automated 1e1Je.r machine transactions, transfers initiated by telephone, wire transfers, ilDd automated clearingbouse transfers, (K) "Escruwltems" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" mc:ans any compcnsafion, settlement. award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or desU'Uction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (ill) conveyance in lieu of condeannation; Or (iv) misrepresentations of, or omissions as to, the value and/Of condition of the Property, (M) "Mortgage Insurance" means inSlttMCe protecting Lender against Ihe nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of Ihis SCCUfÎ1y InstrUmenL (0) "RESPA" means the Real Eslate Settlement Procedures Act (12 U,S.C. Section 2601 et seq.) and its implementing regulaûon, Regulation X (24 C,F.R. Part 35(0), as !hey might be amended from time to time, or any addiLionaJ or successor legislation or regulation that governs the same subject maller. As used in this Seëurity Instrument, "RESPA" refers to aU requirements and rcstricrions Ihat are imposed in regard to a "federally related mortgage loan" even if the Loan doe$ not qualify lIS a "federally related mortgage lean" under RESP A, 0059482083 ~-6(WY) (DOO&).OI p.age 2 0115 4;/"'7 Inlllal.~ Form 305' 1/01 AUG-07-2004 06:22 First Horizon P.26 0927618 000345 (f') "Successor in Interest ot borrower" means any party that has taken title to the Property, whether or not that party has assumed BOnDwcc's obligations under the Note and/or this Security InstrumenL TRANSFER OF RIGJITS IN THE PROPERTY This Security Instrument secures 10 Lender: (i) the repayment of the Loan, and all renewllls, extensions and modifications oC the NolC; and (ii) the pcrformane~ of Borrower's covenant$ and agreements undet this Security Instroment and the NOIe, For this purpose, Borrower does hereby molt.gage, grant and convey 10 Ler1der and Lender's succ::essors and assigns. with power of sale, the following described property located in th~ County of Linco1D [Type of Rccordln¡¡ luri,dlç\lon] (Name of Rccordin¡ IurisdiclÍan] BUILDING I/: 22, CBDAJ. SPRINGS MEADOWS, PRASE :!:XX CONDOHINI'DH, aBCOND FILING, AS SHOWN BY TUB OPFXCIAL PLAT THERBO~ 'lLBD ON OCTOBER 31, 2006 AS DOCUMENT # 923937, AS PLAT 113-D. ParcelID Number; County: 'til/A C:i.ty: N/A 51 PINYON DRIVE UNIT 22 'l'HAnm ("Property Address"): which currently has the address of [Stn:ct] ICily]. Wyoming 83127 [Zip Codc:1 TOGETIIER Wlm all the Improvements now or hereafter erected on the property, and aU easements. appurtenances. and ftJtturcs now or hereafter a part oC the prOperty. All replacements and additions shall also be covered by this Security InsuumenL All of the foregoing is referred U) in this Security Inslrument as the ")'»coperty. " BORROWER COVENANTS that Borrower is lawfully seised of the eslatc hereby conveyed and has the right 10 mongagc, grant and convey the Properly and that the Propcrty is unencumbered, except for encumbrances oC record. Borrower warranlS and will defend generally the title 10 the Property against all claims and demands, subject to any encumbrances of rocord, THIS SECURITY INSTRUMENT combincs unifonn covenants for national use and non-unifonn covenants with limited variations by jurisdiction to consUlUtc a unifonn security Insb'ument covering real property, UNIFORM COVENANTS, Borrower and Lendcr covenant and agree as roI1ows: 1. Payment of Principal. Interest, EM:row Items, Prepayment Charges; and Late Charges. Borrower shall pay when 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 Items pursuant to Secûon 3. Payments due under the Note and this Security Instrument shaU be made in U.s. currency. However, if any check or other instrumenL received by Lender as payment under the Note or this 0059482083 cøt-8(WY) (OOOII.Ot Pag" 3 DI15 Il'ti1i.'I:r Form 3051 1/01 AUG-07-úuu~ J6:22 First Horizon _',27 092761.8 000346 Security InstrUment is returned to lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check. bank check, treasurer's check or cashier's check. provided any suct!. check is drawn upon an institution whose deposirs are insured by a federal agency, instrumentility, or entity; or (d) ElecU'onic Funds Transfer. Payments are deemed received by Lender when received at tho location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in section 15. Lender may return any payment or partial payment ü thc payment or partial payments are insufi1cient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan cunent, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paY1'nents in the fub.1re, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due te, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds unlil orrower makes payment to bring the Loan currenL If Borrower does not do so within a reasonable period £ time, Lender shall either apply such fundS or return them to Borrower, If not applied cartier, such funds w· be applied to the outstanding principal balanee 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 . g payments due under the Note and this Security Instrument or perfonning the covenants and agréemen secW'ed by this Security Instrument. 2. Application of Payments or Proceeds. Excep as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in th following order of priority: ea) interest due under the Note; (b) principal due under the Note; (c) amounts d e under Section 3, Such payments shall be applied to each Periodic Payment in the order in which it becam due. Any remaining amounts shall be applied rust to late charges, second to any other amounts due under Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower or a delinquent Periodic Payment wruch includes a sufficient amount to pay any late charge due, the pay en1 may be applied to Ùle delinquent payment and the late charge, If more than one Periodic Payment is OUIs ding, Lender may apply any payment received from Borrower 10 the repayment of the Periodic Payments . and 10 the extent that, each payment can be paid in Cull, To the extent rhat any excess exists after the pa ment is applied to the full payment of one or more Periodic Payments. such ex.cess may be applied to any late charges due. Volun1at'Y prepayments shall be applied fll'St to any prepayment charges and then as described in the Note, Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3, Funds for Escrow Items. Borrower shnU pay to Lender on rhe day Periodic Payments are due WIder the Note, until the Note is paid in full, a sum (lhe "Funds") to provide for payment of amounts due for: (a) taxes and assessments and othc( items which can attain priority over this Security Insnument as a lien or encumbrance on the Property; (b) leasehold payments or gtouod rents on rhe Property, it any: (c) premiums for any and all insurance required by Lender under Section .5; and (d) Mortgage Insurance premiums. ü any. or any sums payable by Borrower to Lender in lieu of the paymmt of Mortgage Insurance premiums in accordance with the 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 &hat Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow 1rern. Borrower shall promptly furnish to Lender all notices of amoun(S to be paid under this Section, Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligadon to pay the Funds Cor any or all Escrow Items, Lende-r may waive Borrower's obligation to pay 10 Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing, In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow 1tc1ns Cor which payment of 0059482083 q -6(WV') (0006).01 Pagø4 of 15 I"~ Form 3051 1/01 AUG-07-2004 06:22 First Horizon f'.:.::tJ 092761& 000347 Funds has been waived by Lender and. if Lender requires, shaU furnish to Lender receipts evidencing such payment within such time period as Lender roay require. Borrower's obligation to make such payments and to provide rtedpts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay we amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amoWlt and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice Siven in accordance with Section 15 and, upon such revocation, Borrower shall pay 10 Lender all Funds, and in such amounts, thnt are then required under this Section 3, Lender may. at any time, collect and hold Funds in an amount (a) sufficient to penIÚt Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of eJtpenditures of future Escrow Items or otherwise in accordance wiw Appücable Law, The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an insliwtion whose deposits are so insW"ed) or in any Federal Home Loan Bank:. Lender shall apply the Funds 10 pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items. unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge, Unless an agreement is made in writing Of Applicable Law requíres intert.sl to be paid on the Funds, Lender shall not be required to pay Borrower any klterest or earnings on the Funds, Borrower and Lender can agree in writing, however, that interest shall be paid on the FlJnds, Lender shall give to Borrower, wiÙlout charge, an annual accounting of the Funds as required by RESPA, If there is a surplus of Funds held in escrow, as defmed under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow. as defmed under RESPA, Lender shall notify Borrower as requu-ed by 1ŒSPA. and Borrower shall pay to Lender the amount necessary to make up me shortage in accordance with RBSPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow. as dermed under RESPA. Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary I'D make up the deficiency in accordance with RESP A. but in no more than 12 monthly payments. Upon paymont in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower any Funds held by Lender, 4. Charges; Lieæ. Borrower shall pay all taxes, assessments, charges, fmes, and impositions atlributable 10 the Proporty which can attain priority over this Secority Instrument, leasehold payments or ground rents on the Property, if any, and Community Associa1ion Dues. Fees, and Assessments, if any, 'I'o the extent that these items are Escrow ItemS. Borrower shall pay them in the manner provided in Section 3, :Bonuwer shaU ptOmptly discharge any lien which has priority over this Security Instrwnent wùess Borrower: (a) agrees in writing to we payment of Ùle obligation secured by we lien in a manner acceptable U) Lender, but only so tong as Borrower is performing sllch agreement; (b) contests the lien in good faith by. or defends against enforcement of the lien in. legal proceedings which in Lender's opinion ope.rate U) prevent the enforcement of the lit'll while those proceedings are pending, but only until such proceedings are concludect Or (c) secures from the holder of the lien an agreement satisfactory 10 Lender subordinating the lien 10 this Security Instrument If Lender determines that any part of the Property is subject 10 a lien which can at1ain priority over this Security Instrument. Lendcr may give Bonower a notice identifying the lien. Wiwin 10 0059482083 q-e(wy) (0006),01 Pages 0115 : ~:, 'nitlill&7 Form 3051 1/01 AUG-07-~uu~ J6:23 First Horizon /.29 09Z7618 000348 days of the dan: on which that notice is given, Borrower shall satisfy the lien or lBke one or mere of the actions set forth above in this Section 4. Londer may require Borrower to pay a one-time charge for a real. estate tax verification and/or reporting service used by Lender in connection with this Loan. S. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tenn "extended coverage," and any other hazards including, but not limited to. earthquakes and floods, for which Lender requires insurance, This insurance shall be mainlained .in the amounts (including deductible levels) and for the periods that Lender reqp.ires, What Lender requires pllßuant to the precedmg sentences can change during the term of the Loan. The insurance carrier providing the: insurance shall be chosen by Bmrower subject to Lender's right to disapprove: Borrower's choice, which right shall not be exen:i.sed umeasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-timE: charge fat flood zone detennination, certification and tracking sorvices; or (b) a one·time charge for flood zone determination and certification services and subsequent charges each lime remappings or similar changes occur which reasonably might affect such detennination Or certification. BOrrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone detennination resulting from an Objection by Borrower. If Borrower fails to maintain any of tlte covera¡es described above, Lender may obtain insmance coverage, at Lender's option and Borrower's expense. Lender is under no obligation UJ purchase any particular type or amount of coverage. Therefore, such cover"8e shall cover Lender, but uúght or might not protect Borrower, Borrower's equity in the Property, or the contents of tlte Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowIodgøs that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amoun~ disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Inserument. These amowlts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from lender to Borrower requøsting payme:nL All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove: such policies, shall include a standard mortgage clause, and shaU name Lender as mortgagee and/or as an additiona1loss payee. Lender shall have the right to hold the pOlicies and renewal certifu:al.CS. If Lender requires, Borrower shall promptly give to Lender all rec¢ipts of paid premiums and renewal notices, If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, Or destntction of, the Property, such policy shall include a SIDIldard mortgage clause and shall name Lender as mortgagoo and/or as an additional loss payee. In the event of loss, BOllOwer sball give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by BorrowC1'. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or rcpait of the Property, if 1bE: restoration or repair is economically feasible and Lender's security is not lessened, During such repair and restoration pcriod. Lender shall havE: the right 10 hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a singlo payment Or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters. or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be tlte sole obligation of BotTOwer, If the restoration or repair is not economically feasibJe or Lender's security would be lessened, the insurance pl'OCeeds shaH be applied ID 0059482083 ~ -6(WY) (OOD&),OI Page B 011& ".~ Form 3051 1/01 AUG-07-2004 06:23 First Horizon P.30 09Z7618 000349 the swos secured by this Security Instrument, whe1her or not then due, with the e1.cess, jf any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may me. negotiate and sente any avalJable ÏD$urance claim and related matters. If Bonower does not respond within 30 days 10 a notice from Lender that the msunmce carrier has offered to settle a claim, then Lender may negotiate and settle the claím, The 30-day period will begin when the notice is given. In either event, or ìf Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (8) Borrower's rights 10 any insurance proceeds in an amount not 10 exceed the amounts unpaid under the Note Or this Security Instrument, and (b) any other of Bonower's rights (other than the right to any refund of unearned premlwns paid by Bonower) under aU insW'8t1ce policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either 10 repair or restore the Property or ro pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6, Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, un1ess Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances ex.ist which are beyond Bouowet's control. 7, Preservation, Maintenance and Protection or the Property; Inspections. Borrower shall not destroy, damage or irnpair the Prope.rt.y, allow the Property to dereriol'llte or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrowet shall maintain the Property in order 10 prevent tho Property frQm deteriorating or decreasing in value due to its condition. Unless it is determined pursuant ro Section 5 that repair or restoration is not economically feasible, Bonowet shall promptly repair the Property if damaged to avoid funher deterioration or damage, If insurance or condemnation proceeds are paid in connection with damage ro, or the taking of, the Propeny, Borrower shaI1 be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is compleled. If the insuranco or condemnation proceeds ere nOl sufficient to repair or restore the Property, Bonower is not relieved of Borrower's obligation for the completion of such repair or resromtion, Lender or its agent may make reasonable entries upon and inspections of the Property, If it has reasonable cause, Lender may inspect the interior of the improvements on the Propeny. Lender shall give Borrower notice at the time of or prior ro such an interior inspection specifying such reasonable C8U$e, 8, Borro-wer's ~oan AppUeatton, Borrower shall be in default if, during the Loan application process, BOrrower Or any persons Or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave marcrially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material represenlBtions include, but arc not limited to, representations concerning Borrower's tX:cupancy of the Property as Borrower's principal residence. 9, Protection of Lender's Interest in the r.-operty and Right¡ Under this Security Instrument If (a) BOlTower fails to perform the covenants and agreements contained in this Security InstrumenL, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rightS under this Security Insuument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, ror enforcement of a lien which may aUBin priority over this Security Instrument or to enforce laws or regulaliQns), or (c) B01TOwer has abandoned the Property. then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including proteCting aßCl/or assessing the value of the Froperty, and securing and/or repairing the Propeny, Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security InslnllIlent; (b) appearing in court; and (c) paying reasonable attomeys' fees to 0059482083 "" -6(WY) (0005).01 P"Ba 7 at 1Ii Intt~á;2 Form 3051 1J01 AUG-07-~UU4 06:23 First Horizon .r'.31 092761.8 000350 protect its ínterest in the Property and/or rights under this Security Instrument, including irs secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions. and have utilities tnmed on or off, Although Lender may bike action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incW'S no liability for not laking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under I.his Section 9 shal1 become additional debt of BOlTOwer secured by this Security Instrument. These amounts shall bear inrerest at the Note rate from the date of disbursement and shalt be payable, with such interest, upon notice from Lender 10 Borrower requesbng paymenL If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If BOlTOwer acquires fee title to the Propeny, Ùle leasehold and the fee title shall not merge unless Lender agrees 10 the merger in writing, 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower BhaU pay the premiums required to maintain the Mortgage Insurance in effecL If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insultlDce and Borrower was required to make separately designaæd paymenrs toward the prcmiùms for Mortgage Insurance, Borrower shall pay thø premiums required to obtain coveœge subslBntially equivalent 10 Ûle Mortgage Insurance previously in effect, at a cost subslm1tia11y equivalent 10 the cost to Borrower of the Mortgage Insurance previously in effect, from an aIrcmate mortgage insurer selected by Lender, If substantially equivalent Mortgage Insurance coverage is not available. Borrower shal1 continue to pay to Lender Ûle amount of the separately designated payments that were due when Ùle inswanc:e coverage ceased to be in effect Lender will accept, use and re1Din these payrnenrs as a non-refundable loss resc:.rvc in liou of Mortgage Insurance, Such loss reserve shall be non"refundable, notwithstanding the fact Ûlat the Loan is ultimately paid in full, and Lender shnIl not be required to pay Bonower any intem¡t or earnings on such loss æserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for Ùle period that Lender requires) provided by an insurer selected by Lender again becomes available, is obraioed, and Lender requires separa1cly designated payments toward the premiWDlii for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Bonower shall pay the premiums requircd. 10 maintain Mortgage :Insurance in effect, or IX> provide a non-refnndable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such tennination or unlillCmlÌDlltion is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Inswance reimbmes Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay Ùle Loan as agreed, Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total ris~ on aU such insurance in force from time 10 time. and may enter into agreemenL9 with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortga.ge insurer and the otber party (or parties) to these agreements. These agreements may require the mortgage insutet to make payments using any source of funds that the mortgage insurer may have availabte (which may include funds obraioed from Mo.crgage Insurance premiums). As a result of Ihese agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directJy or indirectly) amounl8 that derive from (or might be characterized as) It portion of Borrower's payments for Mortgage InslU'ancc, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses, If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in e1tchange for a share of the premiums paid to the jnsure.r, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreèments will not affect the amounts that Borrower bas agreed to pay for Mort8'''ge Insurance, or any other terms ot the Loan. Such agreements will not increase the am.ount Borrower wiD owe for Mortgage Insurance, and tbey will not entitle Borrower to any refund. 0059482083 CI\ -6(WY) (0006).01 Page 8 0116 '..":? Form 30S1 1'01 AUG-07-2004 06:23 First Horizon P.3:¿ 0327618 000351 (b) Any soch agreements will not affect the rights Borrowet' has - if aoy - with respect to the Mortgage Insurance under the Homeowners ProtectiOD Act or 1998 or any other law. These rights may Ùlclude the rigbt to receive certain disclosures, to request and obtain caoceUatioo of the Mortgage InsuraoÇC!, to have the Mot'tgage Insurance terminated ButomsticaDy, and/or to rec:eive a rel..nd 01 ao)' Mortgage Insuranèe prelOrums that were unearned at the time 01 snch cancellation 0.. termination. 11. Auignment 01 MisceUaneous Proceeds; Forfeiture. AU MisceUaneous Proceeds are hereby assigned to and shall be paid 10 Lender. If the Property is damaged, such Miscellaneous :E'roceeds shall be applied to restoration or repair oC the Property, if the resroration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, LendeJ" shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to eraswe the work has been completed 10 Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an a,greement is made in writing or Applicable Law requires inteœst to be paid on such MiscelJaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the reslOl'ation or repair is not economically feasible or Lender's security would be lessened, the MiscellaneoU$ Proceeds shall be applied to the sums secured by this SeeurilY Instrument. whether or not then due, with the excess, if any, paid to Borrower, Such MísceUaneous Proceeds shalt be applied ìn the order provided for in Section 2, In the evcnt of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess. if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Propeny in wmch the fair market value of the Property immediately before the partial taking, des1ructlon, or loss in value is equal to or greater than the amount of the sums secured by thLq Secwity Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of me Miscellaneous PIoceeds mulliplied by the following fraction: (a) the total amount of the sums secured immediately before the partial takmg, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partíal taking, destruction, or loss in value. Any balance shall be paid (0 Borrower. In the event of a partial taking, destruction. or loss in value of me Property in wmch the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, deslJUction, or toss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Seeurity Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender 10 Borrower that the Opposing Party (as dermed. in the next sentence) offers to make an award 10 settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restomtion or repair of the Property or to the sums secured by this Security Instrument, whether or not then due, "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard 10 Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or crlminaI. is be¡un that, in Lender's judgment. could result in forfeiture of the Property Or other material impainnent of Lender's in~t 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 to be dismissed with a ruling that, in Lender's judgment, precludes forfeiÞ.U'e of the Property or other material impairment of Lender's int.erest in the Property or rights under tIús Security Instrument, The proceeds of any award or claim for damages that are atlributable to the impahment of Lender's interest in the Property are hereby assigned and shall be paid 10 Lender. All MiScellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2, 0059482083 fIr& -U(WY) {DDD5).01 P"glllh'1$ '"11I1I18~ Form 3051 1/01 AUG-07-~__. 36:23 First Horizon _>.33 092761.8 000352 12. :Borrower Not Released; Forbearance 8y Lender Not a Waiver. Extension of the time for payment or modification of amortizaûon of the sums secured by this Security Instmment granted by Lender to Borrower or any Successor in Interest of norrower shall not operate 10 {eJeaSe the liability of BOlTOwer or any Successors ÍJJ Interest of Borrower. Lender shall not be requited to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time fo{ payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of BOlTOwer. Any forbearance by Lender in exercising any right or remedy including, without IiInitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amountthcn due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (8) is co-signing this Security Instrument only to mortgage, granl and convey the co-signer's interest in the Property under the tenns of thi& Security Insttument.; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any othCl' Borrower can auee to extend, modify. forbear or make any accommodations with regard to the ternlS of this Security Instrument or the Note without the co-signer's consent. Subject. to the provisions of Section 18, any Successor in Interest of Bonower who asswnes Borrower's obligations under this Security In!ltn1ment ìn wrirmg, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Securi1y InstrumenL Borrower shall not be released from Borrower's obligations Md liability undar tlUs ScclJrity Instrument unless Lender 88fCCs to such release ìn writing. The covenanlS and agreements of this Security Instrument shall bind (except 88 provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in COMecÞOn with BOlI'Owet's default, for the purpose of protccrmg Lender's interest ìn the Property and rights under this Security Instrument. including. but not limited to, attorneys' fees, property inspection and valuation fees, In regmd to any other fees, the absence of express Bùthodl)' in this Security Instrument to charge a specifJC fee to Borrower shall not be conslJ'Ued as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Seewity Instrument or by Applicable Law. If the Loan is subject to a law which selS maximum loan charges, and that law is fmaUy interpreted so that the interest or other loan charges collected or to be collected ÍJJ connection 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 pe.nnitted limit: and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower, Lender may choose to make this reCund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces prìncipal, the reduction will be trcated 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 1D Borrower will consnblfe a waiver of any right oC action Borrower might have arising out DC such overcharge. 1S. Notices. All notices given by Borrower or Lender in cOlUlection with thÚi Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed 10 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 10 IIll Borrowers W1less Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a subStitute notice address by notice to Lender, Borrower shall promptly notify Lender of Borrower's change of address. '(f Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice In 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 narrower. Any notice in connection with this Security Instrument shalt not be deemed to have been given to Lender until actually œceived by Lender, If any notice required. by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the oorresponding requirement under this Security Inslrument. £/i Innlall~ 0059482083 _-6(WY) (DDD5 .D1 P;,gs 10 QI15 For", 3051 1/01 AUG-07-2004 06:23 First Hori2:on P,34 0327618 16. G01'ernmg Law; SeV'erabmty; Rules or Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which !he Property is located, All rights and obligations contained in this Security Instrument are subject to any requiremenlS and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shalt not be construed all a prohibition against agreement by contract.. 10 the event that any plOvisioD or clause of this Security Instrument or the Note conflicts with Applicable Law, sUéh conflid. shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security In!lttument: (8) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shan mean and include the plural and vico versa: and (c) the word "mny" gives sole discretion without any obligation In take any action. 17. Borrower's Copy, Borrower shall be given one copy of the Note and of this Security Instrument 18. Transfer of the Property 01' a Beneficial Interest in Borrower, As used in this Section 18, "lnte.Test in the Property" means any Jegal or beneficial bttercst in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, conltact foc deed. inslallment sales conlI'llCt 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 Bon-ower is not a natural person and a beneficial interest in Borrower is sold or IlBIIBferred) without Lender's prior wrltren consent, Lender may æquire immediate payment in full of all sums secured by this Security InstrumenL Howevex-, this option shall not be ex.ercÎSed by Lender if such exercise ÎS prohibited by Applicable Law. If Lender exercises this option, 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 wirh Section 15 within which Borrower must pay aU Sums secured by this Security Instrument If Borrowa' fails to pay fbese sums prior to the expiration of this period. Lender may invoke any remedies pennitted by this Security InstrUment without further notice or demand on Borrower, 19. ßorrower'. Right to Reinstate After AcceleratioD. If Borrower meets certain conditions, Borrower shall have !he right to have enforcement of this Security Instrument disconlinuod at any time prior to the earliest of: (a) five days before sale of the Property pW'SUant to any power of sale contained in this Security Instrumen~ (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security InstrumenL Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Secwity InslIUment and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Secwily Instrumenl, including, but not limited to. reasonable attQmeys' fees, property inspection and valuation fees, and other fees inconed for the purposo of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably æquire to assure that Lender's interest in the Property and rights uDder this Security Instrument, and Borrower's obliga.tion In pay the sums secured by this Security Instrwnent, shall continue unchanged. Lende.r may æquire that Borrowe( pay such reinstatement sums and expenses in one Of more of the foUowing fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check., treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposirs are inslD'ed by a federal agency, Instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstate1nent by Borrower, this Security InstnJment and obligations secured hereby shall remain fully çffective as if no acceleration bad occurred. However, this right to reinstate shaH not apply in the case of acceleration under Section 18. 20. Sale of Note; Change or Loan Servicer; Notice or Grievance, The Note or a partial interest in the Note (together with this Secwity Instrument) can be sold one Or more times without prior notice 10 Borrower, A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security instrUment and perfonns other mortgage loan setvicing ob1igaûons under the Note, this Security Instrwnent, and Applicable Law. There also might be one or more changes of the Loan Somcer unrelated to a we of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other infonnation RESPA requires in connection wí!h a 000353 0059482083 CIt .U(WV) (0006).DI Plge 11 ~ 15 (~ Ihltiill&;~ Form 3051 1/01 AUG-07-AUU~ ù6:23 First Horizon ;.35 0327618 000354 notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the putChaset of the Note. the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Scrviccr and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser, Neither Borrower nol;' Lender may commence, jom, or be joined II> any judicial action (as either an individual litigant or the member of a ch1ss) that arises frolI1lhe other party's actions pursuant 10 this Secûrlty IJl$Þument Or that aUeges that the other party has breached any provision Of. or any duty owed by reason of, this Security Instrument, until SQch Borrower Or Lender has notified the other party (wilh such notice given m compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a dIne period which must elapse befow certain action can be taken, that time period will be deemed 10 be reasonable for PUlposes of this paragraph. The notice of acceleration and opportl1J1ity 10 cure given to BOlTOwer pursuant to Secûon 22 and the notice of acceleration given to Borrower pursuant II> Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20, 21. Hazardo", Substances. As. used in thÎ$ Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and tho foHowing substances: gasoline. kerosene. other flammable or toJÚc petroleum products, toxic: pesticidea and herbicides, volal:iIe solvents. materials containing asbestos or fonnatdehyde, and radioactive marcriats; (b) "Environmental Law" means federal taws and laws of the jurisdiction where the Property is located that relate 10 health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedia1 action, or removal action, as defmed in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise triggar an Environmental Cleanup. Borrower shall not cause or pennlt the presence, use, disposal, storage, or release of any IIazardOUB Substances, or threaten to release any Hazardous Substances, on or in tho Property. Borrower shalt not do, nor allow anyone else m do, anything affecting the Property (a) that is in violation of any Bnvironmental Law, (b) which creates an Environmental Condition, or (c) which, due to the pn:sence, use, or release of a Hazardous Substance, creates 8 condition that adversely affects the value of the Property. The preceding two . sentences shall not apply to the presence, use, or slorage on the Property of small quantities of Hazardous Substances that are gcnetalIy recognized to be appropriate to normal residentía1 uses and to maintenance of the Property (inctuWng, but not limited to, hazardous substances in COnsumer products). Borrower shall promptly givo Lender written notice of (a) any investigation, em, demand, Jawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substanco or Environmental Law of which Borrower has acnml knowk:dge, (b) any Envirownental Condition, including but not limircd 10. any spilling, loaking, discharge, release Ot thæat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or rclease of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govemmen1B1 or regulatory authority, or any private party, that any removal or other remediation of any Hazardous SubslBnce affecting the Propeny is necessary. Borrower shall promptly take aU necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligarion on Lender for an Environmental Cleanup. 0059482083 at .S(WV) (0005).01 Page 12 of 15 ¿{?~ Inltlal~:~ Form 3051 1/01 AUG-07-2004 06:23 First Horizon P,36 0327618 000355 NON. UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows: 2.2.. Ac:c:eleration; Remedies. Lender shall give notic:e to Borrower prior to acceleration following Borrower's breacb or any coyenant or agreement in this Security ln8trun1ent (but not prior to acceJeration under Section 18 unless Applicable Law provides otherwise). The notice shaD specify: (a) the defauJt; (b) tbe action required to CUJ'e the default; (c) a date. not less tban 30 days from the date tbe notice is Eiven to Borrower, by which the default must be cured; and (d) tbat faUure to cure the defauJt on or before the date specified in the notice may result In acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall 'uriber inform Borrower of tbe right to reÙl.8tate after acceleration and the right to bring a court action to assert the non-exåstenC8 of a derault or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in tbe notice, Lender at its option may require Immediate payment In tun of all sums secured by tbis Security Instrument without further demand and ~ay iovoke the power or sale and any other remedies permitted by Applicable Law. Lender sbaD be entitled to colleet aU ~penses incurred In pursuing tbe remedies provided in this Section 22, including, but Dot limited to, reasonable attorneys' rcell and costs of title evidence. If Lender ¡qvokeø the power or sale, Lender shaJl give notice or intent to foreclose to Bo....ower and to the pe1"8OQ in p088e8tlioo or the Property, ir different, in accord=mœ with ÀppUcable Law. Lender shaD give notice of tbe sale to BOfrower in the JDanner provided in Section 1S. Lender shaD publish the Dotice of sale, and tbe Property sball be sold in the manner prescribed by Applicable Law. Lender or its d¡,$gnee may purcbase tbe Property a. any sale. Tbe prOCeNS or the sale shaD be àppUed in the following order: (a) to all expenses or the saIe, including, but not limited to, reasonable attorneys' fees; (b) to aD sums secured by this Security Instrument; and (c) any excess to the person or persoD8 legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. :Borrower shall pay any recordation costs, Lender may charge Borrower a fee for releasing this Security Insb'Ument, but only if the fee is paid to a third party for s~ces 1'Ø1dcred and the charging of the fee is pemútt.ed under Applicable Law. 24. Waivel'8. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. 0059482083 '!lit .S(WY) (ÞDDS .DI PaV8 13 vI 15 Æ7; Inlllò1~ Form 3051 1/D1 AUG-07-~uu~ 06:23 First Horizon 092761.8 P.37 000356 BY SIGNING BELOW, BOn'Ower accepts and agrees to the terms and covenants contained in this Security InsttumenL and in any rode;¡- e1tecuted by Borrower and recorded with iL Witnesses: (Seal) -Borrower (Seal) -Borrower (Seal) -Borrc)wer 0059482083 "'t-8(WY) [000&).01 pagg l' of 15 bk (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Form 3051 1/01 AUG-07-2004 06:23 First Horizon P.::I!:! 000357 0927618 Q 4. \ ~...p.O'¡ '('"\ \ ~ a. STATE OFW",iO'J\.IING, ~ ~V\'\-tÀ. UNe8Ltf c..lG\ ('({ The foregoing instrument was acknowledged before me this County tiS: ~ ~'{ oÇ ('(\ Qr-c.h ~ d-ÒÖ7 by JANA B.AJtKMAN My Commission Expires: 7· ð-q.. \0 0059482083 <tilt -I(WY) (0006).01 P"se150r 16 é~) 1"11I1I1a¿~1 ~~....- Form 3051 1/01 AUG-07-úvv~ 06:23 First Horizon .',39 O~Z7618 000358 CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made this 7th day of March, 2007 I and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") ot the same date gIven by the undersigned (the "Borrower") to secure Borrower's Note to l"tRST BORIZON JiOÞm LOAN CORPORATION (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 51 p~O~ DRIVE ~T 22, THAYNE, WYQming 83127 (Þroperty Address) The Property inCludes a unit in, together with an undivided interest in the common elements of, a condominium project known as: ,CmDA1l SPRINGS MIIIADOWS [Name of Condominium Project] (the "Condominium Project"). If the owners association or other entity which acts for the Condominium Project (the "Owners Association") hOlds title to property for the benefit or use of Its members or shareholders, the Property also includes Borrower's interest In the Owners Association and the uses, proceeds and benefits of Borrower's interest. CONDOMINIUM COVENANTS, In addition to the covenants and agreements made in the SecurIty Instrument, Borrower and lender further covenant and agree as follows: A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the Condominium Project's Constituent Documents. The "Oonstituent Documents" are the: (I) Declaration or any other document which creates the CondominIum Project; (ii) by-laws; (Iii) code of regulations; and (iv) other equivalent documents. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Oonstituent Documents. B, Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" polley on the Condominium Project which is satisfactory to Lender and whiCh provides Insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards. including, but not limited 10, earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the 0059482083 MUL TISTATE CONDOMINIUM RIDER . Single Family - FannIe Mae/Freddle Mac UNIFORM INSTRUMENT ~1~~i~;;s:~::~ IIIII~IIIIUII AUG-07-2004 06:23 First Horizon P.40 U~27618 000359 provision in Section 3 for the Periodic Payment to Lender of the yearly premium Installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property Insurance coverage on the Property Is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy, What Lender requires as a condition of this waiver oan ohange during the term of the loan. Borrower shall give Lender prompt notice of any lapse In required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable 10 Insure that the Owners Association maintains a public liability insurance policy acceptable In form. amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, dIrect or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the common elements. or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 11, E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (I) the abandonment or termination of the Condominium Project, except for abandonment or termination required by law In the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the Oonstituent Documents if the provision is for the express benefit of Lender; (ill) termination of professional management and assumption of self·management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender, F. Remedies. If Borrower does not pay condominium dues and assessments when due, then Lender may pay them, Any amounts disbursed by Lender under this paragraph F shalf become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from Ihe date of disbursement at the Nole rale and shall be payable, with interest, upon notioe from Lender to Borrower requesting payment. 0059482083 ~.8R (0411) Page 2 of 3 Inltial& Form 3140 1/01 AUG-07' ____ 06:23 First Horizon ?41 092761.8 000360 BY SIGNING BELOW, Borrower accepl5 and agrees to the terms and oovenants contained in this Oondominium Rider. (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -13orrower (Seal) -Borrower (Seal) -Borrower 0059482083 CIIt-OR (0411) Page 3 of 3 Form 3140 1/01 AUG-07-2004 06:23 First Horizon P,42 0927618 000361 TO BE RECORDEU WITH THE SECURITY INSTRUMENT LENDER: ~IRST aORIZON HOHm LO~ CORPORATION 0059482083 BORROWER: JANA BlUWWf PROPER.TY: 51 PINYON DUW UNIT 22 TBAYNB, Wyoming 83127 RESIDENTIAL CONSTRUCl10N WAN RIDER XNCLUDING SECURITY AGREEMENf TO 'J'H)¡: DEED OF TR'OSTIMORTGAGE THIS RESIDENTIAL CONSTRUCTION LOAN RIDER sbaH be deemed to amend and supplement the Deed of Trust/Mortgage (the ·Security Instrument"), of the same date given by the undersigned (the "Borrower") to secure Borrower's Note eINote") and Addendum 10 Note to Lender of the same date and covering the property ("Property") described in the Security wstrument. All terms defined in thc Note and elsewbere in the Security Instrument shall have the same meaning in this Rider. AMENDED ANn ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further co\'enant and agree as follows: 1. Residential Constrnction Loan Agreement. Borrower agrees to comply with the covenants and conditions of the Residentill! Construction Loan Agreement ("Loan Agreel1\ent") between Borrower and Lender, which is incorporated herein by this reference and made a part of this Security Instrument. The Loan Agreement provides for the construction of certain IInprovements (1IInJpfovements") on the Property. All advances made by Lender pursuant to the Loan Agreement shall be an indebtedness of Borrower secured by this Security Instrument as amended and such advances may be obligatory under the terms of the Loan Agreement. The Security Instrument secures the payment ot all sums and the peñonnance of all covenants required by the Lender in the Loao Agreen.eot. Upon the failure of BOlTOwer \0 keep and perform all the covenants, conditions and agreements of the Loan Agreement, the principal sum and alllntere.st and othcr charges provided for in the loan documents and secured hereby sbaU, at the option of the Lender, become due and payable, 2. Construction Loan Deed or TrustIMortgage. This Security Instrument is a ·construction mortgagc· securing an obligation incurred for the construction of the InJprovement on the Property including the acquisition cost of the Property, if any, and any notes issued in extension, renewal, or substitution thereof, Borrower affirms, acknowledges and warrants that prior to the recordation of this RCLA Rict~ 10 Security InU1l\Iment Page: 1 of S snOO3 PH6D16X AUG-07" ___. 06:23 First Horizon ) .43 O~Z761.8 000362 Security Instrument, as amended, in the Real Property Records of the county or counties where the Property is located, no Improvements contemplated by the Loan Agreement have been constructed, no work has been performed, and DO materials have been ordered or delivered, 3, Future Ad'Vances. This Security Instrument shall secure in addition to the sum evidenced by the Note all funds hereafter advanced by Lender to or for the benefit of norrower, as contained in the Contract and/or due under the Loan AgReDlent and all indebtedness or obligations presently or hereafter owed by Bocrower to Lender, however arising, whether by note, contract, tort. guaranty. operation of law or otherwise; whether or not the advances or events creating such debts Or obligaûons are presently foreseen; and regardless of the c)a.ss of debts or other obligations, be they secUIed or unsecured or arising from commercial, credit card or consumer transactions: Or for any other purpose. AU future advances shall be made within the time limit authorized by the laws of the State of Wyoming 4. Disbursements to Protect Security. All sums disbursed by Lender prior to completion of the bnprovements to protect the security of this Security Instrument, up to the principal amount ot the Note and any future advances. shall be treated as dlsbunements pursuant to the Loan Agreement. All such sums shall bear interest from the date of disbursement at the rate stated in the Note and the Addendum to the Note, unless the col1eclion from Borrower of interest at such rate would be contrary to applicable law. in which event such amounts shall bear interest at the highest rate which may be collected from Borrower under applicable law and shall be payable upon notice from Lender to Borrower requesting payment therefore, S. Assignment of Rights or Claims. From time to time as Lender deems necessary to protect Lender's interest. Borrower shall, upon request Of Lender, execute, acknowledge befofe a notary, and deliver to Lender, assignments of any and all rights or claims which relate to the construction on the Property. 6, Breach by Borrower. In case of breach by Borrower of the covenants and conditions of the Loan Agreement, Lender. at Lender's option, with or without entry upon the Property. (a) may invoke any of the rights or remedies provided in the Loan Agreement, or (b) may accelerate the sums secured by this Security Instrument and invoke any of those remedies provided for in this Security Instrument. or (c) may do both although failure to exercise any of its rights and remedies at anyone time does not constitute a waiver or modification of any conditions, rights or remedies in the future. 7. Amortization and Loan Agreement. After the commencement of amortization of the Note, the terms of the Loan Agreement shaH be deemed to have been satislied. There shall be no clahn Or defense ari$ing out of 01' in connection with the Loan AgreeQlent against the obligations of the Note and this Security Instrument. 8. Property. The property covered by this Security Instrument includes the property d8$cribed or referred to in this Socurity Jnstrument, together with the following, all of which m refernd to as the "Property". The portion of the Property described below which constitutes real property is sometimes referred to as the "Real Property", The portion ot the Property which constitutes personal property is sometimes referred to as the "Personal Property", listed as follows: Any and all buildings, Improvements (provided in the Loan Agreement or otherwi!e), and tenements now or hereafter erected OD the Propérty; any and all heretofore and hereafter vacated alleys 0059482083 RCLA Rider to Security Instrument Page 2 or s 8/2003 FH6D 16Y AUG-07-2004 06:23 First Horif:on P.44 092761.8 000363 and streets abutting the Property, easements. rights, appurtenances, rents (subject however to any assignment of rents to Lender), leases, royalties. mineral, oil and gas rights and profits, water, water rights and water gtock appurtenant to the Property (to the e~tent they are included in Borrower's fee simple title); any and all fIXtures, machinery, equipment, building materials, appliances, and goods of every nature whatsoever now or hereafter loeated in, or on, Dr used, or intended to be used in connection with the Property and all replacements and accessions of them, including, but not limited to, the following items, whicb are hereby recognized by the parties to this instrument as fixtures: appliances for the purpose of supplying or distributing heating, cooling. electricity, gA$, wllter, air and light; security and access control apparatus; plumbing and plumbing fixtures; refrigeratlng, cooking and laundry equipment; carpet, floor coverings and interior and exterior window treatments; furniture and cabinets; interior and exterior sprinkler plant and lawn maintenance equipment; fue prevention and e~tinguisbing apparatus and equipment, water tanks, swi.m.mÎng pool, compressor, vacuum cleaning system, diaposal, dishwasher, range, and oven, any shrubbery and landscaping; any and all plans and specifications for development of Or construction of lmprovements upon the Property; any and all contracts and subconttac~ relating to the Property; any and all accounts, contract rights, instruments, documents. general intangibles, and c.hattel paper arising from or by virtue of any transactions related to the Property; any and all permits, licenses, franchises, certifications, and other rights and privileges obtained jn connection with the Property; any and all products and proceeds arising from or by vittuc of the sale, lease. or other disposition of any of the Property; any and all proceeds payable or to be payable under each policy of insurance relating to the Property; any and all proceeds arising from the taking of all or part of the :Property for any pUblic or quasi-public USe under any law, Or by right of eminent domain, or by private or other purchase in lieu thereof; all building permits, certificates of occupancy, certificatcs of compliance, any rigbt to use utilities of any kind including water, sewage, drainage and any other utility rights, however arising whether private or public, present or future. including any reservation, permit. lener, certificate, license. order, contract or otherwise and any other permit, letter, certificate, license, order, contract or other document or approval received from or issued by any govenunental entity, q\la$i-govenunental entity common carrier, or public utility in any way relatÎng to any part of the ~perty or the Improvements, fixtUres and equipment thereon; all other interests of every kind and character which Borrower now has or at any lime hereafter acquires in and to the Property, including all other items of property and rights described elsewhere in this Security Instrument. 9. Security Instrument. This Security Instrument shall be a security agreement granting Lender a first and prior security interest in all of Borrower's right, title and interest in, to and under the Personal Property, under and within the meaning of applicable statues of this state, located on or acquired for installation on or used in the o.peration of the real property, including, but not limited to, all construction materials, goods, equipment and ÎIXtures, and all accessions, additions and replacements thereof. As well as a mortgage granting a Hen upon and against the Real Properly. In the event of any fOl;'eclosure sale all of the Real and :Perøonal Property may. at the option of Lender, be /lold as a whole or in any part, It shall not be necessary to have 'present at the place of such sale the Personal Property or any part thereof, Lender shaJ.l have all the right$. remedies and recourses with respect to the Personal Property afforded to a ·Secured PiIrty" by thc applicable statutes of this state in addition to and not in limitation of the other rights and recourse afforded Lender under this Security lnøtrument. Borrower shall, upon demand, pay to Lender the amount of any and all expenses, including the fees and disbursements of Lender's legal counsel and of any experts and agents which Lender may incur in connection with: (I) the making and/or administration of this Security Instrument; (II) the custody, preservation, use Or operation of, Or the sale of, collection from, or other realization upon any property, real and/or personal, described in this Security Instrument, (üi) the exercise or enfotcement of any of 0059482083 ~CLA Rider tQ Secwily Instrument Page: 3 of 5 812003 FH6D16Z AUG-07' uvv~ 06:23 First Horizon P,46 092,761.8 000364 the rights of Lender under this Security Instrument; or (iv) the failW"e by Borrower to perform or observe any of the provisions or covenants in this Security Instrument. 10, Completion. Lender shall not be responsible for the completion of the Improvements, and shall not in any way be considel'ed a guarantor or surety of performance by Borrower. In the event the Improvements are not completed according to the PlllIJs and Specifications approved by Lender. and it is detcrmined for whatever reason the Lender does not have a lien arising by or through Borrower, then :Lender shall have a valid lien for its loan amount, less the amount reasonably necessary to IXImplcte thc Improvements, or in such event Lender, at its option, shall have the right to IXImplete the Improvements, and the lien shall be valid for the loan amount. Paragnph 6 ot the Security Instrument. The first sentence of paragraph 6 of the Security Instmment is hereby modified to read as follows: Borrower shall occupy. estab]jsh IIIJd Wle the Property M BOlTOwer', principal residence within sixty (60) days from the e~eculioQ of \he Modification AgrtelQent and $ball continue to occupy the Property as Borrower's principal residence for at least one (1) year after the date of oc:cu.pancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. All other provisions in Paragraph 6 of the Security Instrument remain unchanged. I1. InvalJd Provisions, If any provision of this SecurIty Instrument is declared invalid, illegal, Or unenforceable by a court of competent juriSdiction, then such invalid. illegal or unenforceable provision shall be severed from this Security Instrument and the remainder enforced as if such invalid, i11ega! or W!enfo~eable provision is not a part Of this Security Instrument. 12. Address. Thc name and address of the Borrower/nebtor during construction Qf the Improvements is: ¡¡ANA BAIUa4AN 810 SO'CTH SAN TOMAS AQUINO ROAD CAMPaBLL, California 95008 The name and address of the LenderlSecured Party is: PIRST HORXZON HOME LOAN CORPORATrON 1315 SOurB HIGHWAY 89, SUITE 101 JACKSON, WY 83001 13, Other Provisions. The following notice is required by law: IMPORTANT NOTICE: YOU AlŒ HElŒ:OY NOTIFIED TIlAT ANY PERSON PERFORMING LABOR ON YOUR PROPERTY OR FtJRNISHING MATERIALS FOR THE CONSfRUC110N, REPAm, OR IMPROVEMENT OF YOUR PROPERTY wn..L BE EN'ITrLED TO A LIEN AGAINST YOlœ. PROmRTY IF HE IS NOT PAID IN FULL, EVEN TIlOUGH YOU MAY HAVE PAID THE FULL CONTRACf PRICE TO YOUR CONfRAcroR. TIllS COULD RESULT IN VOUR rAYING FOR LABOR AND MATERIALS TWICE. THIS LIEN CAN BE ENlìORCEn :BY THE SALE OF YOUR PROPERTY. TO AVOID THIS MSuLT, YOU MAY DEMAND FROM YOUR CONTRACTOR LŒN WAIVERS FROM ALL PERSONS PERFO:RMlNG LABOR OR FURNISHING MATERIALS FOR TIlE WORK ON YOUR PROPli:RTY. YOU MAY WITHHOLD PAYM£N'I'TO T1IE CONTRACTOR IN TIlE AMOUNT OF ANY UNPAID CLAIMS l1'QR LABOR 00594820a3 RCLA Rider to Security InslrWnel1/. Page: 4 of 5 812003 FH6D17A AUG-07-2004 06:23 First Horizon P.46 O~27618 000365 FOR MATERIALS. YOU ALSO HAVE THE RIGHT TO DEMAND FROM VOUR CONTRACTOR A COMPLETE LIST OF ALL LABORERS AND MATERIAL SUPPLIERS UNDER YOUR CONTRACT, AND THE RIGHT TO DETERMINE mOM THEM IF THEY HAVE ølmN PAID FOR LABOR PERFORMED AND MATERIALS FURNISHED. By signing below, Borrower accepts and agrees to the terms and covenants contained in this Residential Construction Loan Rider, J ~ ¡í.J.~.-·"·:::··-··- ..' ..,,-'--'" :1·· .1/ ~- Borrower-JÄÑ AIl10Wr Borrower Borrower Borrower Acknowledgments Attached Please attach the Appropriate Coul1ry/ståtë specifië'Nötaiÿ'Aöki.òwlëdginëï1r' ..... 0059482083 RCLA Rider 10 Security Instrùmcnt Page S of S 8/2003 FH6DJ7B STATE OF CALIFORNIA COUNTY OF Santa clar()'9'Z7b1.8 } 55: - On 5--"6 -0 ì before me, .5 ~'"""'^ '\ ~ a Notary Public, personally appeared :::StA.~ G\. \("V'Y'\. 000366 G Yl ~,<\,( ,r (jI 'h \ (c ó}gr&8Rall', kllUVV11 lu me (or proved to me on the basis of satisfactory evidence) to be the person~ whose names is/..aI=& subscribed to the within instrument and acknowledged to me that-he/she/tl'æ'y executed the same in--hts{her/tITetr authorized capacityftes-), and that by trrn'/her/thetr signature(~ on the instrument the person~ or the entity upon behalf of which the person~acted, executed the instrument. ......-------...........-------...---~ S. FLEMING 1@ Commission # 1679311 i -. Notary Public . CalifornIa ~ Santa Clara County MyComm, ExplresJul29. 2010 (This area for official notarial seal)