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HomeMy WebLinkAbout928122 I' ' i i ! I After Recording Return To: ! COUNTRYWIDE HOME LOANS, I~C. I MS SV-79 DOCUMENT PROCESSING I P.O.Box 10423 I Van Nuys, CA 91410-0423 I Prepared By: I MEHGAN JONES I I . . . OOOIj;J..;J.. 6010715136 .1"' RECEIVED 4/4/2007 at 4:03 PM RECEIVING # 928122 BOOK: 653 PAGE: 411 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY I I I I I I " , , [Space Above This Line For Recording Data] . I " I I I MORTGAGE I i ...'.:' \, " 00015922519603007 [Doc ID It] N.ITN1000157-0007959479-8 i I I I i i DEFlNITIONS i . ...... Words used in multiple secûons of thi$ document are defmed below and other words are defined in Sections 3,. 11, 13, 18,20 and 21. Certain rules regarding the usage of word'J used in :thi~ dOcUmeót'are also provided in': : 'I . ' Section 16. ¡', . "';., . , ¡ I (A) "Security Instrument" means this document, which is dated MARCH 29, 2007 with all Riders to this document. I (B) "Borrower" is I DON CLAYTON JR I I (.' j' . , together I Borrower is the mortgagor under this $ecurlty Instrument. (C) "MERS" is Mortgage ElectroniciRegistration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is i . . ".\. , COUNTRYWIDE HOME LOANS, INC. Lender is a CORPORATION ,[., . organized and existing under the 1awslof NEttY YORK Lender's address is i 4500 Park Granada MSNt SV~-31~, Calabasas, CA.9l302~16l3 (E) "Note" means the promissory nQte signed by Borrower and dated- MARCH 29, 2007 Note states that Borrower owes Lend~r SIXTY EIGHT THOUSAND ONE HUNDRED and 00/100 i , .." Dollars (U.S. $ 68,100.00 ! ) plus interest. Borrower has promised t~ .pay this' debt in regular Periodic Payments and to pay the debt in full not later than MAY 01, 2037 . (F) "Property" means the property!that is described below under the heading "Transfer of Rights in the Property." i WYOMING-SIngle Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT WITH MERS I ' l . Page 1 of 11 ~ .6A(WY) (0005) CHL (08/05)(d) '!<II MP Mortgage Solutions, Inc. (800)521-7291 CONVNA I I " , . The (" : Form 3051 1/01 "..... 111111 ~ I 9 6 a 0.0 0 0 2 0 0 6 A * 5 922 5'1 <.Jlt " . . .~ ~. . . Parcel ill Number: I " I 0928122 ! , I ! . DOC ID i: 00015922519603007 I ¡ (G) ItLoan" means the debt evidenced by the Note, plus interest, any prepaYIr.ent charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. . . (H) ItRiders" means all Riders to this Security Instrument that are exec*ted by Borrower. The following Riders are to be executed by Borrowe~ [check box as applicable]: :,' d:'I' :.,::'" ' . D Adjustable Rate Rider D Condominium Rider D Se.cond HOÒle Rider D Balloon Rider D P~a~ned Unit Develo~ment Rider, D ~'~41Fa~i1y Ri~er D VA Rider D BIweekly Payment Rider D·Oth;er(s) [specify] I. I ! ~ I (I) "Applicable Law" meanS all pontl'Olling applicable federal, state I an~ ~ocal statutes, regulations, ordinances and administrative rules and orders (that have the effect of lar) a,c¡ well as all applicable final, non-appealable judicial opinions.!. I I . '. (J) "Community Association Dues, ;Fees, and Assessments" means all öues, fees, assessments and other charges that are imposed on Borrower! or the Property by a condominium associ~tion, homeowners association or similar organization. !' I i: . . . (K) "Electronic Funds Transfer" m¢ans any tran.c¡fer of funds, other than:a transaction ongmated by check, draft, or similar paper instrument, w(1ich is initiated through an electroni9 teiminaI, telephonic instrument, computer, or magnetic tape so ac¡ to ~rdet, instruct, or authorize a financial iri~titution to debit or credit an account. Such term includes, but is not limited to, point-of-sale tradsfer~, automated teller machine . I, . transactions, transfers initiated by telephone, wire transfers, and automated c1ear~nghouse transfers. (L) ItEscrow Items" means those ite~s thaf'are descri~ed in Section 3. ! I" :. :.: '.', . (M) "Miscellaneous Proceeds" means any compensation, settlement, awarä 'of: da111åges, or proceeds plUd by any third party (other than insurance proceeds paid under the coverages des~~ibed i¡ì.Section~) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other takìhg o(ál~ or :any part of the Property; (ill) conveyance in lieu of condemnation; or (iv) misrepresentations ,of,...ôr' opñssioñs as to, the value and/or condition of the Property. :. Ii (N) "Mortgage Insurance" meanS ~surance protecting Lender against the nonpayment of, or default on, the Loan. ¡ ". I 1- ," . . (0) "Periodic Payment" means th~ regularly scheduled amount due for (i) prinèipal and interest urider the Note, plus (ii) any amounts under Section 3 of this Security Instrument. I !..', '. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. :Se'Ction 2601 et seq.) IUld its implementing regulation, Regulation X (24, C.F.R. Part 3500), as they might be ·¡.mended from time to time, or any additional or successor legislatidn or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refed to all requirements and restrictions! ~a~ are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESP A.! I I'~ . (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligat~ons under the Note and/or ~his SeduritY ~ttument. I . . . i . , ~ I ':. . TRANSFER OF RlGHTS IN THE PROPERTY . ' . !.: ';" ", . . I . .. . This Security Instrument secures to Lender: (i) the repayment of the Loan, ,aM alJ renewals, extensions and modifications of the Note; and (ii) ~he performance of Borrower's cò~epant,.: ¡Ùld ågre~ments under this Security Instrument and the Note. Fór this purpose, Borrower does hèïeby mòrtgage, grant and convey to MERS (solely ac¡ nominee for Lender, and Lender's successors and assigns)jand to the suçœssors and assigns ofMERS, with power of sale, the following described property located in th~. : P.... ':. COUNTY !' of ILINCOLN . [Type of Recording Jurisdictiori] [Name ot Recbrd.i:ng Jurisdiction] , I ' SEE H ON SCHEDULE A ! I, " J. I I . i I "'I··· , I , I' ,I' I . ¡, I' I . ./' .". .. :'1 ". { < S FRO~~~IET, OPAL· rclr:.~.h~lhe add= ~ I 000412 ,.,1. Wyoming 83124 (Zip Code] I I I 710 I ("Property .!.\ddrè¡¡s"): ! ~ -6A(WV) (0005) CHL (08/05) ¡ ! I i I I ¡ ! I' ! I ,. ,1,"_ Page 2 of 11 Form 3051 1/01 ., ,I i 11 J. 'l O~Z81Z2; I . . Ii . . . I DOC tD #:-00015922519603007 TOGETHER WITH all the improvements now or hereafter erected on tht property, and all easements, appurtenances, and fixtures now or hereaftdr a part of the property. All repl'ace~erits· and additions shall also be covered by this Security Instrument. ~ of the foregoing is referred to ~ this Security Instrument as the "Property." Borrower understands and agrbes that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or ~stom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose ~d sell the Property; and to tafe ap.y action required of Lender including, but not limited to, releasing and ~anceling this Security Instrument. !.. BORROWER COVENANTS that BoÙower is lawfully seised of the e~tate hereby. conveyed and has the right to mortgage, grant and convey th~ Property and that the Property ~s unencumbered, except for encumbrances of record. Borrower wa11'an~~ and will defend generally t"e ti1;le to the Property against all claims and demands, subject to any encumbtances of record. . Ii·.. TillS SECURITY INSTRUMENT combines uniform covenant~ for . national use and non-uniform covenants with limited variations by jurisdiction to constitute a 1miform þecl'1rity instrument covering real property.. i . . ! : UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: I t . 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges,' and Late Charges. Borrower . shall pay when due the principal of, and ~nterest on, the debt evídenced by the Note and any prepayment charges and late charges due under the N?te. Borrower shall also pay fuzlds fo~: ?-~crow Items pursuant to Section 3. Payment~ due under the Note: and this Security Instrument· shall be made in U.S. currèncy. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or aU subsequent payments due under the Note and this Security Instrument be made in one or more of the follo",ing;folms, as selected by Lender: (a) cash; (b) money order; (c) certified cheþk, bank check, treasurer's chec~ or: cashier's check, provided any such check is drawn upon an institution wpose deposits are insured by a ~ede{al agency, instrumentality, or entity; or (d) Electronic Funds ~ransfer.! . . II. . . Payments are deemed receIved by Lender when receIved at the location desIgnated m the Note or at such. other location as may be designated by ùndcr in accordance with the notice pròvision.~ in Section 15. Lender may return any payment or partial payme~f if the payment or partial payrltentsare insufficient to bring the Loan current. Lender may accept any payment or partial payment insuffiCient t9 bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse suCh paymcmt or partial payments in the future, but Lender is not obligated to apply such payments at the timé'sqc~ payments are accepted. If each Periodic Payment is applied as of itc¡ sch~duled due date, then Lender n~ed ~ot pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes paYIf'ent to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall:eithet'apþly -such funds or return them to Borrower. If not applied earlier, suçh funds will be applied to the outsulndin'g principal. balance under the Note immediately prior to foreclosure. No off.~et or claiin which Borrow~i' niigb,thave now· or in thé future against Lender shall relieve Borrower from!making payments due under the¡No~e and this Security Instrument or perfonning the covenants and agreements secured by this Security Instrument~' 'i . . . 2. Application of Payments or Proceeds. Except as otherwise described in·this Section 2, all payments· accepted and applied by Lender shall be aþplied in the following oräer of priority: (a) interest due under the Note; (b) principal due under the Note; (c): amounts due under Section·3. Sucl). payments shall be applied to each Periodic Payment in the order in whi¿h it became due. AJ1y remaining 'anlounts shall be applied first to late charges, second to any other amounts dlle under this Security Instrument, and then to reduce the principal balance of the Note. I . 'I:f . . If Lender receives a payment froI!l.¡Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge duè, the payment may be applied to' the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender. may: apply any payment received from Borrower to the repayment of the Periodic; Payments if, and to the. extent ·that,: eaoh payment Can be paid in full. To the extent that any excess exists ~fter the payment is applied to 'the:full payment of one or more Periodic Payments, such excess may be applied to any late charges ..due.: V ölunta.rY. prepayments shall be appJied first to any prepayment charges and'then as described in the Note. I.,: .,., AJ1y application of payments, insuran~e proceeds, or Miscellaneous P~òc~eds to.; pririeipal' due under the Note shall not extend or postpone the due dÄte, or change the amount, of the! Periodic Payments.. . 3. Funds for Escrow Items. Borrow¿r shall pay to Lender on the dayPeriò,rfiê Payments are due under the Note, until the Note is paid in full, a spm (the "Funds") to provide fo~ pay~eilt of amounts due for: (a) taxes and assessments and other items wqich Can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehol~ paymentc¡ or ground rents on ~he Property, if any; (c) premiums" for any and all insurance required by LendeF under Section 5; and (d) Mortgàge Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment óf Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "EscrJwItems." At origination or at any time during the term of the Loan, Len~er may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by BorroWer, and such dues, fees and ass~ssments shall be an Escrow Item. Borrower shall promptly furnish to Lender ~l notices of amounts to be paid:under this Section. Borrower shall pay Lender the Funds for Escrow Items un1ess Lender waives Borrower's ob1íg~tiOli-to pay the Funds for any or all Escrow Items. Lender may waive B9rrower's obligation to pay-to Lender FOOds for any or all Escrow I "/'......·1' ..,.. .' . .' 1"'-" Page 3 of 11 . . I form 3051. 1/01 i I 00041.3 ~ -6A(WY) (0005) CHL (08/05) '. . -' . ._1.. _ ¡. '. · I·' " I Î l' OOO~1¡4 O~28122 . . DOC. J;D ~b...00015922519603007 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 amøunts due for any Escrow Items, for ',which payment of Funds has been waived by Lender and, if Lender requires, shall 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 contaiµed in this Security Instrument, a~ the phra~e "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 the amount due Îor· an Escrow Item, Lender may exercise its rights under Sectiõn 9 and pay such amount 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 given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. . Lender may, at any time, collect and hold Funds in an amount (a) suffi~ient to pennit Lender to, apply the Funds at the time specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate the amount of Funds due on the ba~is of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable 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 institution whose deposits are so inSured) ot in any Federal Home Loan Bank. Lender shall apply the Funds' to pay the Escrow Items no .tater tha'o the time specified under RESP A. 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 or Applicable Law require.~ interest to be paid on the Funds, Lender shall not be required to PflY Borrower any interest or earnings 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 rèquired by RESP A. If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shorta:ge of :Funds' :held in esërow, as defmed under RESP A, Lender shall notify Borrower a~ required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESP A,but in,' no more than 12 monthly payments. If there is a deficiency of Funds held in e.~crow, as defmed under RESPA, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amoUnt necessary to make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments. " Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to I Borrower any Funds held by Lender. . , ¡.. 4. Charges; Liens. Borrower shall pay' all taxes, assessments, charges,: fmes, and impositions attributable to the Property which Can attain priority over this Security Instrument, leasehöÚ:t paymeÌlts or· ground rents on the Property, if any, and Community Assöciation Dues, Fee.~, and Assessménts, if-any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided inlSection 3. Borrower shall promptly discharge' any lien which has priority over this Secùrity Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured. bY~ the lien in a manner acceptable to Lender, but only so long as Borrower is perfonning such agreement; (b) conte~ts the lien in good 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 untÚ' such,proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detennines that any part of the Property is:subje-ct to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifýing the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take ori:e or more of the actions 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 used by Lender in connection with this Loan. ! 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, eåithquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible' levels) 'artd for the periods that Lender requires. What Lender requires pursuant ió· the preceding sentences 'can chailge'dtÍring the. tenn of the Loan. The insurance carrier providing the insurance shall be chosen by Borròwer subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unrea~onably.; Dender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood' zone determination, certification and tracking service.~; or (b) a one-time charge for flood zone determination: and certification services and subsequent charges each time remappings or similar changes occur' whìch ,reasonäbly might affect such determination or certification. Borrower shall also be responsible for the p~ymentofany \fèes imposed by the Federal Emergency Management Agency ·in connection with the review of ~any ·flood zone dètennination resultingftoman objection by Borrower. I I' ":. . ';. I . . If Borrower fails to maintain any of the coverages described above,. Leììder may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lend~r, but might or might not protect. Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard ~ -6A(WY) (0005) CHL (08/05) Page 4 of 11 .I I I .~.. I I . ',I ',.' I I Form 3051 1/01 ~ -6A(WY) (0005) . , I:¡ "~ ¡ :1' i " ::1 :;1 I, I'; .!i "'. DOC tD .~ 000159225196030Q7 or liability and might provide greater qr lesser coverage than was previously'iþ effect. Bon-ower acknowledges that the cost of the insurance coveràge so obtained might significantly e~ceed the cost of insurance that Borrower could have obtained. Any amount,> disbursed by Lender under this Section 5 shall become additional debt of Bon-ower secured by this Sec~rity Instrument. These amounts shall b~ar interest at the Note rate from the date of disbursement and shall öe payable, with such interest, upon ~otice from Lender to Borrower requesting payment. I :' All insurance policies required by Lender and renewals of such policiesshaIl be subject to Lender's right I to disapprove such policies, shall include a, standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lep.der shall have the right to hold the p~licies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage ~lauseand shall name Lender as mortgagee and/or as an additional loss: payee. . ¡.:"', In the event of loss, Borrower shall give prompt notice to the insura~ce càq.ier and Lender. Lender may make proof of loss if not made pro~ptly by Borrower. 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 repair of the Property, if the restoration or repair is: economically feasible and Lender's security is not lessened. Durihg such repair and restoration period, Lendet shall have the right to hold such insurance proceeds until Lender :has had an opportunity to inspect suc~ ¡>roperty to ensure the work has been completed to Lender's satisfactiÓn, provided that such inspection shall be undertaken promptly. Lender may disburse proceed,> for the repairs: and restoration in a single payment or'in a series of progress payments as the work is completed. Unless an ~greement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrowe.r any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bon-ower shall not be paid out of the insurance proceeds and shall b~ the sole obligation of Borrower. If; the restoration or :repair is not ! . ~ . economically feasible or Lender's security would be lessened, the insurance proèeeds shaU be applied to the sums secured by this Security Instrunient, whether or not then due, with the:'excess; if any, paid to Bon-ower, Such insurance proceeds shall be applied in the order provided for in Section 2. ': If Borrower abandons the Propefty, Lender may file, negotiate and setøe :any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice.from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle ,the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acqlúres'.the Property·tlilder Section 22 or otherwise, Borrower hereby assigns t~ Lender (a) Borrower's rights to any fnsurancb 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 refui:¡d of unearned premiums paid by Borrower)'"iûlder all insurance policies covering the Property, insofar as SUC? rights are applicable to the coverage .öf tht Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due, ':: : . 6. Occupancy. Bon-ower shall occupy, establish, and use the PropertY as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall cohtinue to occupy the Property as Borrower's principal residence for at least one year after the date of OCc1;lpancy, unless Lender otherwise agrees in writing, which consent shall not be 1U1teasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. ¡ . .' , : ~ '. ' .: . 7. Preservation, Maintenance, and Protection of the Property;: ínspedioDS.. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate ~r. comq1Ït waste on the Property. Whether or not Borrower is residing ín the Property, Borrower shall mainåܵ the' Property in order to prevent the Property rrom deteriorating or decreasing in value due to its condition/pnless it is detennined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower 'shall promptly repair the Property if damaged to avoid further deteriora~ion or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be respönsible for repairing or restoring the Property only if Lender ,has released proceeds for such purposes. Lend¢r may disburse proceeds for the repairs and restoration in a! single' payment or in a series of prQgress ·.payments as the work is completed. If the insurance or condemnation proceeds are not sufficient' to reþili'i or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repaii'or restoration. '.' Lender or it,> agent may makb reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. ' 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan applicaûon process, Borrower or any persons or enûties acting at the direction of Borrower 'or w¡th Borrower's knowledge or consent gave materially false, mislehding, or inaccurate information or Stlltements to Lender (or failed to provide Lender with material information) in connection with the LOan. Material representations' include, but are not limited to, representations copcernìrig Borrower's occupancY, of tlie ¡PropertY. as Borrower's principal ·d ! .,! I reSl ence. . . i'· I ~:. " . I . 1:1, ·.j:l. ': ..',.1 '';:i ' ~ :: . ~: . ;:! ..~ i' ::1 I' :rI ,'I ., :1 ,,'; O~28122 OOO~.15 , .. ", ... ...... , \. CHL (08/05) Page 5 of 11 .Form 3051 1/01 " ..a " 'il ; ; ~ 'il i¡j ,II ':1 '..; ;;j. . 000116 O~28~22 DOC ~;þ 4t':" 00015'922519603007 9. Protection of Lender's Interest in the Property and Rights Under: this Security Instrument. If (a) Borrower fails to perfonn the coven~ts and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Pfoperty. and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate; for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument· or to enforce laws or regulations), or (c) Borrower has ab~doned the Property, then Lender may do ànd pay for whatever is reasonable or appropriate !O protect Lender's interest in the Property and righ~s unqer this Security Instrument, including protecting and/or assessing the value of the Property, and securin~ and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secUred. by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property include.~, but is not limited to, entering the Property to make repairs, change locks, replace or boarµ up doors and windows, drain water ~rom pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender d~es not have to do so and is not under anY "duty or obligation to do so, It is agreed that Lender incurs no liabilitY for not taking any or all actions authorized under this Section 9. Any amount~ disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. The.~e a~ounts shall bear interest at the Note rate fróm the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on :a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee titi~ shall not merge unless Lender I ,J , agrees to the merger in writing. i . 'I 10. Mortgage Insurance. If Lender required Mortgage Insurance as a conqition pf making the Loan, Borrower shall pay the premiums reqJïred to maintain the Mortgage Insuran~e in ~fftX:t. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available '~rrom;tlÌe mortgage insurer that previously provided such insurance and Borrower was required to make, sepl\.mtely designated páyments toward the premiums for Mortgage Irisurance, Borrower shall pay the premÍums iequired to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cpst substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an aiternate mortgage insurer selected by Lender. If substantially equivalent:Mortgage Insurance coverage 'is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as I a ~on-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender;shall not be required to pay Borroweriany intereSt or earnings on such loss reserve. Lender can no longer require loss reserve payment~ if Mortgage, Insurance coverage (in the' amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender reqUires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortg~ge Insurance as a condition of maIcmg ·the: Loan and Borrower was required to make separately designated payments toward the preiniums for Mortgage Insurance, Borrower shall pay the premiums required to mamtain Mortgage Insurance in effect, or, to provide f!. non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance witJi·àny: written agreement between Borrower and Lender providing for such termination or until terÏnination is reqUired by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at thè,rate provided:in the Note. Mortgage Insurance reimburses Lender (or any entity that purchasest1~e Note) for certain losses it may incur if Borrower does not repay the Doan as agreed. Borrower is not a party to the Mortgage Insurance., ' Mortgage insurers evaluate their I total risk on all such insurance in force; rrom tiine to time, and may enter into agreements with other parties that share or modify their risk, or reduce·lossðS. These agreements are on terms and conditions that are satisfaçtory to the mortgage insurer and the; other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have *vailable (which may include funds obtained from Mortgage Insurance . . I premIums). ¡¡. As a result of these agreements,i Lender, any purchaser of the Note, another insurer., any reinsurer, any other entity, or any affiliate of any o( the foregoing, may receive (directly Qr indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for MÒl'tgage Insurance, 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 ~he insurer's risk in exchange for a share ofthe premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: ' : ~ ' . (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the'ainoUnt Borrower will owe for Mortgage Insurance, and they win not entiOe Borrower to arty rdund.··., 4 , , ." ;'1 .. . ~ -6A(WY) (0005) CHL (08/05) Page6of11 ! ,i ..~/· . ... ;!i¡ "1 :íl :,1 . I I;, ' . . I 'i .1 't.. . Form 3051 1/01 .. ,I' I ,.... 'ij' ;1' "... , ~ ,\ . I I I I I I DOC ID *: 00015922519603007 (b) Any such agreements will ¡not affect the rights Borrower has:: - if any - with respect to the Mortgage Insurance under the Ho~eowners Protection Act of 1998 or a~y other Jaw. These rights may include the right to receive certain disclosures, to request and obtain! cancellation of the Mortgage Insurance, to have the Mortgage InSurance terminated automatically, and/or to receive a refund of any Mortgage Insurance prenùums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellane;ous Proceeds; Forfeiture. All, Miscellaneous Proceeds are hereby assigned to and shan be paid to Lender. : '1 . If the Property is damaged, such! Miscellaneous Proceeds shall be appIïed to restomtion or repair of the Property, if the restoration or repair is ~conomically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellàneous 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 pay:for t,~e ~ðp'~ and restoration in a single disbursement or in a series of progress payments as the work is co~pleted~ Unless.an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any ~terest or earnings on such Miscellanequs P.ròceeds. If the restoration or repair is not economically feasible or :Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by thi~ Security Instrument, whether or not tpen due, with the excess, if any, paid to Borrower. Such Miscellaneous'Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, d~struction or loss in value of the Prop~ty, 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. I ,I .' In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before th~ partial taking, destruction, or loss in ',value is equal to or greater than the amount of the sums secured by thi~ Security Instrument immediately bef~re 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 ambunt of the Miscellaneous Proceeds multiplied by the following rraction: (a) the total amount of the sums secured immediately before the partia,l taking, 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 shall be paid to Borrower. . ..' .! :., . In the event of a partial taking, destruction, or loss in value of the Property in.which.the fair market value of the Property immediately before tne partial taking, destruction, or loss inivalue is less than the amount of the sums secured immediately befor~ the partial taking, destruction, or los~ in: value, unless .Borrower and Lender otherwise agree in writing, th~ Miscellaneous Proceeds shall be applied. tò ·the sums 'securedby this Security Instrument whether or not thd sums are then due. " . . , If the Property is abandoned by;Bon-ower, or if, after notice by Lender to Bon-ower that ·the Opposing Party (as defined in the next sentence)ioffers to make an award to settle a c1ai~ for damages, Bo~ower 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; restoration 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 rig~t of âction in regard to Miscellaneous Proceeds. ! ' .,¡. '. . Borrower shall be in default if 'any action or proceeding, whether civil or:criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impaimient of Lender's interest in the Property or rights under this Security.'Instrument. Borrower can cure·sucha default and, if acceleration has occurred, reinstate as provided inlSection 19, by causing the aotionor¡proceeding to be dismissed with a ruling that, in Lender's judgment, prec,ludes forfeiture of the Property or othe~ material impairment of Lender's interest in the Property or rights under this Security Instrument The proc:eeds of any award or claim for damages that are attributable to the 4TIpairment of Lender's interest in the Rroperty Me. hereby assigned and' shall be paid to Lender. i. . . , . .....,. All Miscellaneous Proceeds that are not applied to restoration or repair df the Property shailbe applied in the order provided for in Section 2. ¡ , ,; ...: .' I , 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tirile for payment or modification of amortizatipn of the sums secured by this SecurityiIrtstrument granted by Lender to Borrower or any Successor in Interest,of Bon-ower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. :Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or t9 refuse to extend time for payment or ~therwise modify amortization of the sums secured by this Security Instrinnent by reason of any demand made by·the original Borrower or any Successors in Interest of Borrower, A!ny forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptançe of payments rrom third persons, entities or Successors in Interest of Borrower or in amounts less than the ~oûnt then due, shall not be áWilive.C of or preclude the exercise of any right orremedy. !.' '. ~. . . 13. Joint and Several Liability; Co-signers; Successors and Assigns :Bound.Bon-ower covenants and agrees that Borrower's obligations ap.d liabiJity shall be joint and several. However, any Borrower who' co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a),îs co-signing this Security I I . . , .! ! ... O~2812~ ;1. 000417 - :.... (, . ~ -6A(WV) (0005) CHL (08/05) Page 7 of 11 ., , ¡ "I ¡ ',¡ "I ;'1 11 1'1, Form 3051 1/01 ./ 'I' II I!.. 0001:18 O~Z8122; ! . . DOC rþ #: 00015922519603007 Instrument only to mortgage, grant aQd co~vey the co-signer's interest in ,th~ Property under the terms of this Security Instrument; (b) is not personillly obligated to pay the sums secu~ed:þy t~is Security Instrument; and (c) agrees that Lender and any o~er Borrower can agree to extend,: modify" forbear or make any accommodations with regard to the ~erms of this Security Instrument or ~he No~ without the co-signer's consent. ! ; Subject to the provisions of SecÍion 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrunlent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security'Instrument. Borrower shall not be released rrom Borrower's obligations and liability under this Security Instrutnent unless Lender agrees to such rele~se in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. I . :. 14. Loan Charges. Lender mllY charge Borrower fees for service.~ perf01med in connection with Borrower's default, for the purpose ;of protecting Lender's interest in the: Pr?perty and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence qf express authority in this Security InstCwnent to charge a specific fee to Borrower shall not be construed as a prohi~Üion on the charging of such fee! Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. ¡ ," If the Loan is subject to a law ~hich .sets maximum loan charges, and. that law is fmally interpreted so that the interest or other loan charge's collected or to be collected in cqnnection with the LOan exceed the permitted limit~, then: (a) any such lo~ charge shall be reduced by the:amòupt necessary to reduce the charge to the permitted limit; and (b) any swrts already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender ma~ 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 pr~payment charge (whether or not a prepayment charge is provided for under the Note). Borrower'sacceptånce 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 overcharge. . 15. Notices. All notices given by Borrower or Lender in connection wjth this Security Instrument must be in writing. Any notice to Borrowçr in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actuallr delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless 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 addr~ss. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only rep'ort 'a change of address through that specifi~ä ·procedure. There may be only one designated notice address l111der this Security Instrument at any on~ time. Any notice to Lender shall be given by delivering Ü or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notic~ to Borrower. Any notice in 'connecti~>n 'with this Security Instrument shall not be deemed to have been giv~n to Lender until actually received by;Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applic~ble Law'requirement will satisfy the corresponding requirement under this Security Instrument. ,," 16. Governing Law; Severabm.ty; Rules of Construction. This Secutity Instromeiu shall be governed by federal law and the law of the jvrisdiction in which the Property is lo.cated.:;A11 rights and obligations contained in this Security Instrument are subject to any requirement~ and liniitations of Applicable Law. Applicable Law might explicitly or implicitly illlow the parties to agree by pontract or it might be silent, but such silence shilll not be construed ;as a prohibÜion against agreement by coritract In the event that any provision or clause of this Security In.strument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this S¢curity Instrument or the Note which can be given effect without the conflicting provision.! : , ! " As used in this Security Instt;mnent: (a) words of the mascUline ,gender shilll mean and include corresponding neuter words or words 'of thê feminine gender; (b) words in the singular shall mean and include the plurill and vice versa; and (c) th~ word "may" gives sole discre~on without any obligation to take any . I . ., action. ! . . I ' . 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the PropertYi or a Beneficial Interest in Borrow:er. As used in this Section 18, "Interest in the Property" means any ~egal or beneficial interest in the Property,' inCluding, but not limited to; those beneficial interests transferred iil a bond for deed, contract for deed, 'installment sales contract or escrow agreement, the intent of which is the I!ansfer of title by Borrower at a future <,iate to a pürchaser. If all or any part of the Property 'or any Interest in the Property is sold or transferred (or if Borrower is not a naturill person and a beneficial int~rest in Borrower is sold or transferre~) withqut 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. . If Lender exercises this option, Lender shilll give Borrower notice 'of acøèleration. The notice shall provide a period of not le.~s than 30' days rrom the date the notice is given iil 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 reniedies permitted by this Security Instrument without further notice or d.emand on Borrower. '. I ' . -6A(WY) (0005) CHL (08/05) (!) Page 8 of 11 , Form 30.51 1/01 I . 1 . ), . . I' ''. ": Ii \ ~ -6A(WY) (0005) '11. . ·1; . ,I' . .Ii: . I!' Ii I DOC IÓ; *: 00015922519603007 19. Borrower's Right to Reinstdte After Acceleration. If Borrower m~t~ certain conditions, BOITower shall have the right to have enforcerrtent Óf this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power ~i sale contained in this Security Instrument; (b) such other period a~ Appliqable Law might specify forthe teqnmation of BOITower's right to reinstate; or (c) entry· of a judgment enfordng this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then! wo~d be due under this Security Inßtroment and the Note M if no accelemtion had occUlTed; (b) cures aily default of any other covenants or agreements; (c) pays all expenses , . incurred in enforcing this Security Instruinent, including, but not limited,: to, reMonable attorneys' fees, property inspection and valuation feesl and! other fees incurred for the PUÌ'po~'e of protecting Lender's interest in the Property and rights under this S~curity Instrument; and (d) takes such action as'Lender may reMonably require to assure that Lender's inter'est iÍ1 the Property and rightsunde~: this Security Instrument, and Borrower's obligation to pay the sums! secJed by this SecuritY Inst:rum,ent, shall continue UÌlchanged. Lender may require that Borrower pay such reinst~tement sums and expenses in one¡ör more of the following forms, as selected by Lender: (a) cMh; (b) mdney Òrder; (c) certified check, bank chççk; treasurer's. check or cashier's check, provided any such check is drawn uþon an institution whose deposits ;are insured by a federal agency, instrumentality or entity; or (d) Elecftonid Funds Transfer. Upon reinstatement by' Borrower, this Security Instrument and obligations secured h~reb~ shall remain fully effective as µ ;no acceleration had occurred. However, this fight to reinstate shall not apply in the case of acceleration und¢r Section 18. 20. Sale of Note; Change of Lo~n SJrvicer; Notice of Grievance. The: Note or a partial interest in the Note (together with this Security Instr!nne~b can be sold one or more times Without prior notice to Borrower. A sale might result in a change in the! entity (known as the "Loan Servicer"j :that collects Periodic Payments due under the Note and this Security :rþ,c¡trutPent and performs other mortgage: ioariservicing obligations under the Note, this Security Instrument, and¡ App~icable Law. There also might be òn.e or'inore changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan S'ervicer, Borrower will be given written notice of the change which will sta~e the name and address of'the n6~ Loan Servicer, the address to I I which payments should be made and !any other information RESP A reqùires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced bY .a Löan Servicer other than the purchaser of the Note, the mortgage 101m servicing obligations to Borrower wµl remain,witluhe Loan Servicer I I '. or be transferred to a successor Loanlserv('cer and are not assumed bY. the ~otð''p~haser unless otherwise provided by the Note purchaser. :' , '!" . ..... . Neither Borrower nor Lender ~ay cpmmence, join, or be joined to 'any j'tl.wcial action (as either an individual litigant or the member of a blass) that arises from the other party's~actiòns pursuant to this SecUrity Instrument or that alleges that the oth~r p~ty hac¡ breached any provision of~ or any' duty owed by reåson of, this Security Instrument, until such BQITower or Lender hM notified the other party (with such notice given in compliance with the requirements of Sectidn 15) of such alleged brðach and :afforded the other party hereto a reasonable period after the giving of s'uch riotice to take corrective action. IfiAppllcable Law provides a time , I , period which must elapse before certain action Can be taken, that time period ,will be deemed to be reasonable for purposes of this paragraph. The notice df acceleration and opportunity to buèe' given to Borrower Pursuant I , to Section 22 and the notice of acce~eratiQn given to Borrower pursuant to Section 18 shall be deemed to satisfy the notiçe and opportunity to ta~e corrective action provisions of. this SectioÌ1.'ZO. ., 21. Hazardous Substances. As used ih this Section 21: (a) "Hazardous Substances" are those substances defmed as toxic or hazardous substapces, i pollutants, or wastes by Environmental Law and the following substances: gac¡oline, kerosene, other f1a~able or toxic petroleum products; toxic ·pesticides and herbicides; :ola~e solvents, ~aterials contaïring I asbestos or. f~rm.al~ehyde;:' -and '- r~dioac~ve materials; (b) Envltonmental Law means federal laws and laws of the Junsd1ctIon where the Property 1S located that relate I I to health, safety or environmental p~otect~on; (c) "Environmental Cleanup," includes any response action, remedial action, or removal action, a<;; defit;led in Environmental Law; and: (d) an'''EIivironmental Condition" means a condition that can cause, contiibut6 to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or pe,&nit the presence, use, disposal, storage, or>release of . any Haiardous , I , . Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall,not do, nor aUow anyone else to do, anything affectingithe Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition~ or (c) which, due to the presence, :use, or release ofa Hazardous Substance, creates a condition that a~~ersdly affects the value of the Property. The preceding two sentences shall not apply to the presence, use, <?r sto~age on the Property of smaU quantities of Hazardous Substances that are generally recognized to be appropiiate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardoùs su~stances in consumer products). !. '" Borrower shall promptly give UndÙ'written notice of (a) any. investigation, claim, demand, lawsuit or other action by any governmental ot reg}üatory agency or private party .involving the Property ànd any Hazardous Substance or Environmentàl Law of which Borrower has actual ~owledge, (b) any Environmental Condition, including but not limited ~o, atiy spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any co~ditioh caused by the presence, use or release of a Hazardous Substance which adversely affects the value of ~he ptoperty. If Borrower leams, or IS potified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bdrrowbr shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for än Environmental Cleanup. I . ,I .' ,: . , I . i , I I '1 I Page 9 of 11 I I , , i 1 I I ! O~Z81ZZ; 00011.9 .' CHL (08/05) Form 30511/01 i' , , I i· O~Z8122 I I I I '. DOC ID' *:.00015922519603007 NON-UNIFORM COVENANTS. Bor~ower and Lender further cove1;lant ~d agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Iµstrnment (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The.~oqce shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less ØtaIi 3P days ,from the date the notice is given to Borrower, by which the default must be cured; and (d) ~t faBure 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 and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action toassert'the non-existence of a'default or any other defense of Borrower to acceleration and sale. If the default;is not cured on or before the date specified in the notice, Lender at its option may require inunediate payment in full of all sums secured by this Security Instrument without further demand and may inv'oke the power of sale and any , other remedies permitted by Applicable Law. Lender shall be entitled to ¢ollect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. ' I . If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance With Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section IS. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not liihited to, reasonable attorneys' fees; (b) to all sums secured by tl1is Security Iustromentj and (c) any excess to the person or persons legally entitled to it. . . '.! ..' .'." ,I 23. Release. Upon payment of an sums secured by this Security Instrqmen~: Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may . charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third par~ for services rendered and the charging of the fee is pel11litted under Applicable Law. I'· , . 24. Waivers. Borrower releases and waives all rights under and by virrne of the homestead exemption' laws of Wyoming. . I' 000120 BY SIGNJNG BELOW, Borrower accepts and agrees to the terms arid covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded withdt. I I, , : . I I, . .. j , I. " ~ (bð;;~ DON CLAYTON JR -:- : : ¡, ':: . . " 1 ,. . I' .. ! (Seal) -BoIrower ; - (Seal) -Borrower . , I 'I I, . . (Seal) -Borrower ! 1 I : I ! ¡.; ! 1 ·1 " " f ¡ I I I i : ¡ I Page 10 of 11 'j : i Ii : /; Ii. II· (Seal) -BoIrower ~ -6A(WY) (0005) CHL (08/05) Form 3051 1/01 O~Z81ZZ " ,I I , , , 00012:1 by j , , r DOC I~I:, 00015922519603007 L. \Ilþ" n County ss: nt was acknowledged before me this -ill ~c. ~ i ~ c¡1b. ;:;tœ 7 , , STATE OF WYOMING, , .' : My Commission Expires: 6l-d, ~ --ð C[ j Notary Public I' iI , Ii: Ii ii' . I . ¡ II' . j" . II: I' II' ,I Ii I' " il , !I STATE Of wYOMING, IS~ON EXPIRES: ¡-J;)-O q II' , ¡, ,Il I, II: II i ¡: . Ii I I: ~ -6A(WY) (0005) CHL (08/05) Page 11 of11 I' . I' '! 'II· I,: jl . II . II .. 'I ' ' ·1, : 'I' I: Ii , ji, Ii, 'j I, : ii' I . ¡ : I' Ii ;d Ii !i: , I' , ,I I" I' " . ;1 I. I' I, i' I . I' : Ii' Ii 'I' : II': , Ii Ii " I I: . II. ; II : II : ¡i: ·iI .,¡ ¡i , !I Form 3051 1/01 ..~ '" " .... . ~, _or:--. _ '- -' . ..,.., .;'" ~ " ... ~ i. .. . .,... ~ ~ A .. - - .... '. . -', .... ." .. ,¡. 1r~..-" O~28 ~~ Order No: 6010715136 . . " ':',' . . .' . , . , :". I , . :LECA.LDIÍS·êlUPTION EXHD:Ú'r 'A' 0004~2 . '.' 'Lot 1 of Block 7 ofthe Amended Plat ofthe~'Town or.Opal, Lincoln County~ Wyoming as described on the official pl~t tllereof. .0 " :' . ... .... · ,', · . " '0 ..... . 0' ! '.,' :1,:. ~:; \: r. . i'- :.' . ,', " ,,:". ", "", .... ~ ['0' · .... J" . " , I '. 0·.\0 ,. . ~. :''; , , . . ,' ," . '. ~t' , '" '..·...10,('" . ~ . ," , t . '. , .. "": 'r .', " ., .:', . .. . :.'~.:\... ~'.~: . ,':' :t-;. ,,0 .~ ::.' a' . ". ,0 " .. . ',. . . . :,'