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HomeMy WebLinkAbout928204 6010715061 00072:1. )"1 1\'" Return To: iFREEDOM DIRECT CORPORATION ATTN: FINAL DOCS 2363 SOUTH FOOTHILL DRIVE SALT LAKE CITY, UT 84109 Prepared By: JANET MADOLE 2363 SOUTH FOOTHILL DRIVE SALT LAKE CITY, UT 84109 (SPlice Above This Line For Recording Datal DEFINITIONS MORTGAGE ~ 1000360-0000301079-6 RECEIVED 4/6/2007 at 3:57 PM RECEIVING # 928204 BOOK: 653 PAGE: 721 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Words used in multiple sections of this document ate defined below and other words are defined m Sections 3, I I, 13, 18, 20 and 21. Cert81D rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which IS dated Ap ri 1 2, 2007 together with all Riders to this document. (ß) "Borrower" is CINDY JAQUES HEMMERT, AN UNMARRIED PERSON .1 I ¥..\ ..J \ J1. -', ./ Borrower is the mortgagor under this Secunty Instrument. (C) "MERS" is Mortgage Electromc Reglstratlon Systems, Inc. MERS is a separate corporation that IS actmg solely as a nomlnee for Lender and Lender's successors and assigns. MERS is tbe mortgagee under tbis Security Instrument. MERS is orgomzed and eXisting under the laws of Delaware, and has an address and telephone number ofP.a. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. JI ~)illr' JAQUES,C301079 301079 WYOMING-Single Family-Fannie Mae/freddie Mac UNIFORM INSTRUMENT WITH MERS ~ -8 A (WY) (0005).01 ~2- PaQ.1 of 15 MW05l00.01 Initial' . .. VMP MORTGAGE FORMS - (800)521-7 (1 Form 3061 1/01 I/IIJIII 11111 11/1 111111 11111111 1111 O~2820¡~ 000722 (D) "Lender" is iFREEDOM DIRECT CORPORATION Lender is a A CORPORATION organIzed and eJushng Wlder the laws of THE STATE OF UTAH Lender's address IS 2363 SOUTH FOOTHILL DRIVE, SALT LAKE CITY, UT 84109 (E) "Note" means the promIssory note sIgned by Borrower and dated April 2, 2007 The Note states that Borrower owes Lender One Hundred Fifty Two Thousand Five Hundred and na/lOO Dollars (U.S. $152,500.00 ) plus mterest. Borrower has promIsed to pay this debt in regular Penodic Payments and to pay the debt in full not later than May 1, 2037 (F) "Property" means the property that IS descnbed below under the heading "Transfer of Rights 10 the Property. " (G) "Loan" means the debt eVIdenced by the Note, plus mterest, any prepayment charges and late charges due under the Note, and all sums due under this Secunty Instrument, plus mterest. (II) ''Riders'' means all Riders to this Secunty Instrument that are executed by Borrower. The followmg Riders are to be executed by Borrower [check box as applicable]: o Adjustable Rate Rider o B81100n Rider /XI VA Rider D CondomInium Rider 0 Second Home Rider o Planned UmtDevelopment Rider 0 1~4 Famlly Rider o Biweekly Payment Rider 0 Other(s) [specify] (1) "Applicable Law" means all controlIing applicable federal, state and local statutes, regulations, ordinances and admlmstrahve rules and orders (that have the effect of law) as well as all applicable final, non-appealable JudicIal opmions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are Imposed on Borrower or the Property by a condominIUm assoCIation, homeowners assOCIation or sImIlar orgamzahon. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction ongmated by check, draft, or sImIlar paper mstrument, which IS Imtiated through an electromc termmal, telephonic mstrument, computer, or magnebc tape so as to order, mstruct, or authonze a financIal institution to debit or credit an account. Such term lDcludes, bul IS not limited to, pomt-of-sale transfers, automated teller machine transactions, transfers mltiated by telephone, wIre transfers, and automated clearmghouse transfers. (L) "Escrow Items" means those Items that are descnbed in Section 3. (M) ''Miscellaneous Procee~s" means any compensation, settlement, award of damages, or proceeds paId by any third party (other than msurance proceeds paId under the coverages descnbed in SectIOn 5) for: (i) damage to, or destruchon of, the Property; (ii) condemnation or other taking of al1 or any part of the Property; (iii) conveyance 111 lieu of condemnahon; or (iv) mlsrepresentalions of. or omISSIOns as to, the value and/or condition of the Properly. (N) "Mortgage Insurance" means Insurance protecting Lender agamst the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) prmclpal and interest under the Note, plus (ii) any amounts under Secbon 3 of this SecUTlty Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its 1ffip1ementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used 10 this Secunty Instrument, "RESPA" refers to all reqUIrements and restnctions that are Imposed in regard to a "federally related mortgage loan" even If the Loan does not qualify as a "federally related mortgage loan" under RESPA. JAQUES,C301079 301079 ,-4;11 Form 3061 1101 ~ -6A(WYI (0005).01 Page 2 or 15 ---., ,'" 092820{~ 000723 (Q) "Successor in Interest of Borrower" means any party that has taken hUe to the Property. whether or not that party has assumed Borrower's obligatIons under the Note and/or this Secunty Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Secunty Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensIOns and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Secunty Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nommee for Lender and Lender's successors and assIgns) and to the successors and assIgns of MERS, wIth power of sale, the following described property located m the County of LINCOLN (Type of Recording Jurisdiction) (Name of Reoording Jurisdiction) LOTS 29, 30, 31, AND 32 OF BLOCK 5 OF VAN NOY PARK TO THE TOWN OF THAYNE, LINCOLN COUNTY, WYOMING AS DESCRIBED ON 'THE OFFICIAL PLAT THEREOF. ParcellD Number: 12-3419-23-1-08-036.00 190 DANA STREET THAYNE ("Property Address"): which currently has the address of (Street) (City) , Wyommg 83127 (Zip Code) TOGETHER WIm all the Improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. An replacements and additions shall also be covered by this Security Instrument. All of the foregomg IS referred to m this Secunty Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the mterests granted by Borrower m this SecUrIty Instrument, but, If necessary to comply With law or custom, MERS (as nommee for Lender and Lender's successors and assIgns) has the nght: to exerClse any or all of those mterests, mc)uding, but not limited to, the right to foreclose and sell the Property; and to take any achon requIred of Lender including, but not limited to, releasmg and canceling this Secunty Instrument. BORROWER COVENANTS that Borrower IS 1awfully seIsed of the estate hereby conveyed and has the nght to mortgage. grant and convey the Property and that the Property IS unencumbered, except for encumbrances of record. Borrower warrants and wIll defend generally the tttle to the Property agamst all clauns and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines umform covenants for natIOnal use and non-umform covenants wIth limIted vanations by Jurisdiction to conshtute a umform securIty mstrument covenng real property . JAQUES,C301079 cD -8 A (WY) (0005).0' (!) 301079 Inltlal..!J¢- Fonn 3061 1/01 Page301'5 ---,- I O~2820l\ 00072·4 UNIFORM COVENANTS. BOlTower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the prIncipal of, and mterest 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 Section 3. Payments due under the Note and this Secunty Instrument shall be made to U.S. currency. However, If any check or other Instrument received by Lender as payment under the Note or this Secwity Instrument IS returned to Lender unpaId, Lender may reqUIre that any or all subsequent payments due under the Note and this Secunty Instrument be made m 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 such check IS drawn upon an mstitution whose deposits are tnsured by a federal agency, mstrumentality, or entity; or (d) Electromo Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender m accordance wIth the notice proVIsions 10 Section 15. Lender may return any payment or partíal payment If the páyment or parttal payments are msufficlent to bnng the Loan current. Lender may accept any payment or partial payment 10sufficIent to br10g the Loan current. wIthout waIver of any rIghts hereunder or prejudice to Its nghts to refuse such payment or partlal payments 10 the future, but Lender IS not obligated to apply such payments at the time such payments are accepted. If each Penodic Payment IS applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bnng the Loan current. If Borrower does not do so wlthin a reasonable penod of time, Lender shall eIther apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding pnnclpal balance under the Note immeQiately pnor to foreclosure. No offset or claIm which Borrower nught have now or 10 the future against Lender shall relieve Borrower from making payments due under the Note and this Secunty Instrument or performmg the covenants and agreements secured by this Secunty Instrument. 2. Application of Payments or Proceeds. Except as otherwIse descnbed In this SectIon 2, all payments accepted and applied by Lender shall be applied in the followmg order of prionty: (a) mterest due under the Note; (b) pnnclpal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment m the order In which It became due. Any remammg amounts shall be applied first to late charges, second to any other amounts due under this Secunty Instrument, and then to reduce the prmclpal balance of the Note. If Lender receIves a payment from Borrower for a delinquent Penodic Payment which mcludes a sufficient amount to pay any late charge due, 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 Penodic Payments If, and to the extent that, each payment can be prod in full. To the extent that any excess eXIsts after the payment IS applied to the fun payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, msurance proceeds, or Miscenaneous Proceeds to pnnclpal due under the Note shall not extend or postpone the due date, or change the amount, of the Penodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, unhl the Note IS paId in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other Items which can attain pnonty over this Secunty Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, If any; (c) premIUms for any and all msurance reqUIred by Lender under Sechon 5; and (d) Mortgage Insurance premiums, If any, or any sums payable by Borrower to Lender m lieu of the payment of Mortgage Insurance premIUms. m accordance wIth the provIsions of Sechon 10. These Items are called "Escrow Items." At ongmahon or at any time dunng the term of the Loan, Lender may require that Commumty AssociatIon Dues, Fees, and Assessments, If any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all nohces of amounts to be paId under this Sechon. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligahon to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any hme. Any such waIver may only be m wnting. In the event of such wmver, Borrower shall pay directly, when and where payable, the amounts JAQUES,C301079 301079 InlllalS:¥ Form 3061 1/01 G-6A(WY) (0005).01 !Ð Pago. 01 15 092820l~ 000725 due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender reqwres, shall furmsh to Lender receipts evidencing such payment within such time penod as Lender may require. Borrower's obligahon to make such payments and to provide receIpts shall for all purposes be deemed to be a covenant and agreement contamed in this Secunty 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 the amount due for an Escrow Item, Lender may exercIse Its rights under Sechon 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 m accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and m such amounts, that are then reqUIred under this Section 3. Lender may, at any time, collect and hold Funds m an amount (a) sufficient to penmt Lender to apply the Funds at the tune specIfied under RESPA, and (b) not to exceed the maxImum amount a lender can requIre under RESP A. Lender shall eshmate the amount of Funds due on the basts of current data and reasonable estunates of expenditures of future Escrow Items or otherwise m accordance wtth Applicable Law. ne Funds shall be held in an Institutton whose deposits are msured by a federal agency. Instrumentality, or enhty (including Lender, if Lender IS an mstituhon whose deposits are so msured) or In any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the hme specIfied under RESP A. Lender shall not charge Borrower for holding and applying the Funds, annually analyzmg the escrow account, or venfying the Escrow Items, unless Lender pays Borrower mterest on the Funds and Applicable Law permIts Lender to make such a charge. Unless an agreement IS made m wnting or Applicable Law requIres interest to be p81d on the Funds, Lender shall not be required to pay Borrower any Interest or earnmgs on the Funds. Borrower and Lender can agree 10 wnting, however, that mterest shall be paId on the Funds. Lender shall give to BOITower, without charge, an annual accounting of the Funds as requITed by RESP A. If there IS a surplus of Funds held in escrow, as defmed under RESP A, Lender shall account to Borrower for the excess funds In accordance wIth RESPA. If there IS a shortage of Funds held in escrow. as defined under RESP A, Lender shall notify Borrower as reqUIred by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage In accordance wIth RESPA, but In no more than 12 monthly payments. If there is a deficIency of Funds held in escrow, as defined under RESP A, Lender shall notIfy Borrower as requIred by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency m 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 Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and Impositions attnbutable to the Property which can attaIn pnorIty over this Secunty Instrument, leasehold payments or ground rents on the Property, tf any, and Commumty AssocIatIon Dues, Fees, and Assessments, If any. To the extent that these Items are Escrow Items, Borrower shall pay them In the manner provided in SectIon 3. BOITower shall promptly discharge any lien which has pnorIty over this Security Instrument unless Borrower: (a) agrees m wnting to the payment of the ob1igation secured by the lien m a manner acceptable to Lender, but only so long as Borrower is perfonnmg such agreement; (b) contests the lien In good faith by, or defends against enforcement of the lien In, legal proceedings which in Lender's opImon operate to prevent the enforcement of the lien while those pröceedings are pending, but only until such proceedings are concluded; or (0) secures from the holder of the lien an agreement satIsfactory to Lender subordinating the lien to this Secunty Instrument. If Lender determmes that any part of the Property IS subject to a lien which can attam pnorlty over this Security Instrument. Lender may give BOITower a nohce Identifying the JAQUES,C301079 301079 'M~dØ Fonn 3061 1101 cD -IIA(WY) (0005).01 IIÞ Page 5 Df 15 ·'·'~8·~~O(~ O~~ - 000726 lien, Within 10 days of the date on which that notice IS gIven, Borrower shall satisfy the lien or take one or more of the actions set forth above U1 this Section 4. Lender may require Borrower to pay a one-bOle charge for a real estate tax venficatlOn and/or reporting service used by Lender m connection with this Loan. 5. Property Insurance. Bon-ower 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 linl1ted to, earthquakes and floods, for which Lender reqmres InSUrance. This msurance shall be mamtmned in the amounts (including deductible levels) and for the penods that Lender requires. What Lender reqUIres pursuant to the preceding sentences can change durmg the term of the Loan. The· insurance camer providing the msurance shall be chosen by Borrower subject to Lender's nght to disapprove Borrower's choice, which fight shall not be exercised unreasonably. Lender may require Borrower to pay, In connectlOn With this Loan, either: (a) a one-bme charge for flood zone determination, certIfication and tracking servICes; or (b) a one-time charge for flood zone determmatlOn and certdication services and subsequent charges each tIme remappmgs or sImIlar changes occur which reasonably mIght affect such determmation or certification. Borrower shall also be responsible for the payment of any fees Imposed by the Federal Emergency Management Agency m connection wIth the review of any flood zone determmatlon resulting from an objection by Borrower. If Borrower fails to mamtain any of the coverages described above, Lender may obtam 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 Lender. but mIght or mIght not protect Borrower. Borrower's eqmty in the Property. or the contents of the Property. against any fisk. hazard or liability and JßJght provide greater or lesser coverage than was prevIOusly m effect. Borrower acknowledges that the cost of the msurance cover'age so obtamed might significantly exceed the cost of msurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Secunty Instrument. These amounts shall bear mterest at the Note rate from the date of disbursement and shall be payable, with such mterest, upon notice from Lender to Borrower requesting payment. All insurance policies requIred by Lender and renewals of such poliCIes shall be subject to Lender's right to disapprove such polic1Cs, shall Include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the fight to hold the poliCIes and renewal certificates, If Lender reqmres, Borrower shall promptly give to Lender all receipts of prod premIUms and renewal notices. If Bon-ower obtams any form of insurance coverage, not otherwise required by Lender, for damage to. or destructIon of. the Property, such policy shallmclude a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall gIve prompt notice to the msurance carner and Lender. Lender may make proof of loss If not made promptly by Borrower. Unless Lender and Borrower otherwise agree m writing, any msurance proceeds, whether or not the underlymg msurance 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 secunty IS not lessened. Durmg such repaIr and restoratlOn perIod, Lender shall have the fight to hold such Insurance proceeds untIl Lender has had an opportumty to Inspect such Property to ensure the work has been completed to Lender's satisfactlOn, provIded that such Inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration In a sIngle payment or m a series of progress payments as the work IS completed. Unless an agreement is made In wrIting or Applicable Law reqUIres mterest to be p81d on such Insurance proceeds, Lender shall not be requIred to pay Borrower any mterest or earnmgs on such proceeds. Fees for publio adjusters, or other third partIes, retamed by Borrower shall not be paid out of the Insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair IS not economically feaSIble or Lender's secunty would be lessened, the msurance proceeds shall be applied to the sums secured by this Secunty Instrument, whether or not then due, with JAQUES,C301079 301079 Inltlal&:~ Form 3061 1101 . -6A(WY) (0005),01 (!) Page 6 of 15 00072'7 O~Z8204~ the excess, û any, pwd to Borrower. Such Insurance proceeds shall be applied in the order provIded form Section 2. If Borrower abandons the Property', Lender may file, negotIate and settle any avadable msurance clwm and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance camer has offered to settle a claIm, then Lender may negotiate and settle the cl8.1ffi. The 30-day penod wdl begIn when the noUce IS given. In either event, or If Lender acqUires the Property under Section 22 or otherwIse, Borrower hereby assigns to Lender (a) BolTower's nghts to any Insurance proceeds 10 an amount not to exceed the amounts unpaId under the Note or this Secunty Instrument, and (b) any other of BOlTower's nghts (other than the nght to any refund of unearned premIUms paId by BOlTower) under all Insurance policies covenng the Property, msofar as such nghts are applicable to the coverage of the Property. Lender may use the msurance 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. Borrower shall occupy, establish, and use the Property as BolTower's principal residence wIthin 60 days after the executIon of this Secunty Instrument and shall continue to occupy the Property as Borrower's pnnclpal residence for at least one year after the date of occupancy, unless Lender otherwise agrees m wnting, which consent shall not be unreasonably withheld, or unless extenuating circumstances eXIst which are beyond Borrower's control. 7. Preservation, Maintenance and Protedion of the Property; Inspections. Borrower shall not destroy, damage or Impair the Property, allow the Property to detenorate or commit waste on the Property. Whether or not BOlTower IS reSlding In the Property, Borrower shall mamtam the Property in order to prevent the Property from detenoratmg or decreasmg m value due to Its condition. Unless It IS determmed pursuant to Section 5 that repair or restoratIon IS not economically feasible, Borrower shall promptly repair the Property If damaged to avoid further detenoratIon or damage. If msurance or condemnation proceeds are paid in connection WIth damage to, or the taking of, the Property, BolTower shall be responsible for repairing or restonng the Property only If Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoratlon m a smgle payment or m a senes of progress payments as the work IS completed. If the msurance or condemnation proceeds are not suffiClent to repair or restore the Property, Borrower IS not relieved of Borrower's obligation for the completlon of such rep81r or restoration. Lender or Its agent may make reasonable entnes upon and mspectlons of the Property. If it has reasonable cause, Lender may mspect the mtenor of the unprovements on the Property. Lender shall give Borrower notice at the time of or pnor to such an mtenor inspection specIfying such reasonable cause. 8. Borrower's Loan Application. BolTower shall be m default If, durmg the Loan application process, Borrower or any persons or entIties actmg at the direction of Borrower or wIth Borrower's knowledge or consent gave matenally false, misleading, or Inaccurate mformatIon or statöments to Lender (or failed to provide Lender wIth matenal mformation) 1D connecbon wIth the Loan. Material representatIons mclude, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's pnnClpal resIdence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Secunty Instrument, (b) there IS a legal proceeding that mIght slgmficantly affect Lender's mterest m the Property and/or nghts under this Security Instrument (such as a proceeding tn bankruptcy, probate, for condemnatIOn or forfeiture, for enforcement of a lien which may attam pnonty over this Secunty Instrument or to enforce laws or regulattons), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever 18 reasonable or appropnate to protect Lender's mterest m the Property and nghts under this Secunty Instrument, mcluding protectmg andlor asseSSing the value of the Property, and securing and/or repairing the Property. Lender's actions can mclude, but are not limIted to: (a) paymg any sums secured by a lien which has pnonty over this Secunty Instrument; (b) appearmg m court; and (c) paymg reasonable JAQUES,C301079 301079 Inltlal/l:..tlÇ!£ Fonn 3061 1/01 ~ -tA(WY) (0005),01 I) Page 70/ 15 O~2820¿,\ 000728 attorneys' fees to protect its interest in the Property and/or nghts under this Secunty Instrument, lllcluding its secured posItion In a bankruptcy proceeding. Securlllg the Property Includes, but IS not limIted to, entenng the Property to make repaITs,.change locks, replace or board up doors and WIndows, dram water from 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 does 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 authonzed under this Section 9. Any amounts disbursed by Lender under this SectIon 9 shall become additional debt of Borrower secured by this Secunty Instrument. These amounts shall bear Interest at the Note rate from the date of disbursement and shall be payable, wIth such Interest. upon nottce from Lender to Borrower requestmg payment. If this Secunty 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 htle shall not merge unless Lender agrees to the merger In writing. 10. Mortgage Insurance. If Lender requIred Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premIUms requIred tomamtam the Mortgage Insurance In effect. If, for any reason, the Mortgage Insurance coverage requm:d by Lender ceases to be aV811able from the mortgage Insurer that previously provIded such Insurance and Borrower was requITed to make separately desIgnated payments toward the premIUms for Mortgage Insurance, Borrower shall pay the premIUms required to obtam coverage substanhally equivalent to the Mortgage Insurance prevIOusly 1ll effect, at a cost substanhally equIvalent to the cost to Borrower of the Mortgage Insurance prevIously m effect, from an alternate mortgage Insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not avaùable, Borrower shall contlllue to pay to Lender the amount of the separately designated payments that were due when the msurance coverage ceased to be m effect. Lender wIll accept, use and retam these payments as a non-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 requITed to pay Borrower any mterest or earmngs on such loss reserve. Lender can no longer requIre loss reserve payments If Mortgage Insurance coverage (in the amount and for the period that Lender reqUIres) provided by an insurer selected by Lender agaIn becomes aV81lable, IS obtamed, and Lender reqwres separately designated payments toward the premIUms for Mortgage Insurance. If Lender reqUIred Mortgage Insurance as a col}ditionof making the Loan and Borrower was required to make separately desIgnated payments toward the premIUms for Mortgage Insurance, Borrower shall pay the premIUms required to malßtam Mortgage Insurance In effect. or to provide a non-refundable loss reserve, until Lender's reqUIrement for Mortgage Insurance ends 1ß accordance wIth any WrItten agreement between Borrower and Lender provIding for such terminatIon or unhl termination IS requIred by Applicable Law. Nothing m this Section 10 affects Borrower's obligatIon to pay Interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entIty that purchases the Note) for certam losses It may mcur If Borrower does not repay the Loan as agreed. Borrower IS not a party to the Mortgage Insurance. Mortgage Insurers evaluate their total risk on all such insurance 1ß force from bme to bme, and may enter mto agreements with other parties that share or modify theIr nsk. or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage Insurer and the other party (or partIes) to these agreements. These agreements may require the mortgage msurer to make payments usmg any source of funds that the mortgage Insurer may have available (which may mclude funds obtamed from Mortgage Insurance premIums). As a result of these agreements, Lender, any purchaser of the Note, another msurer, any remsurer. any other entIty, or any affiliate of any of the foregomg, may.receive (directly or mdirectly) amounts that derIve from (or nught be characterized as) a portion of Borrower's payments for Mortgage Insurance, 1D exchange for shanng or modifying the mortgage msurer' S rIsk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's nsk ln exchange for a share of the premiums paid to the msurer, the arrangement IS often termed IIcapttve remsurance." 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 amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. JAQUES, C301079 301079 Inltlala: /J/1 /} G-6A(WY) (0005).01 Page801,S ~ Form 3061 1/01 èBI O~2820{t 000729 (b) Any sucb agreements will not affect the rights Borrower has - If any - witb respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosurc8, to request and obtain cancellation of tbe Mortgage Insurance, to have tbe Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby aSSIgned to and shall be paId to Lender. If the Property IS damaged, such Miscellaneous Proceeds shall be appHed to restoration or repwr of the Property. If the restoration or repwr IS econoDllcally feasible and Lender's secunty IS not lessened. During such repair and restoratlOn penod, Lender shall have the fight to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satlsfactlOn, provided that such inspectlOn shall be undertaken promptly. Lender may pay for the repans and restoratlon m a smgle disbursement or m a senes of progress payments as the work IS completed. Unless an agreement IS made in wnting or Applicable Law reqwres interest to be paid on such Miscellaneous Proceeds. Lender shall not be reqUired to pay BOITower any mterest or earnmgs on such Miscellaneous Proceeds. If the restoratIon or repair IS not economlCally feasIble or Lender' 8 secunty would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Secunty Instrument, whether or riþt then due, with the excess, If any, pwd to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for In Sechon 2. In the event of a total taking, destruction, or loss In value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Secunty Instrument, whether or not then due, with the excess, If any, paid to BOITower. In the event of a partial taking, destructIOn, or loss m value of the Property 10 which the fair market value of the Properly Immediately before the partial taking, destruction, or loss 10 value IS equal to or greater than the amount of the sums secured by this Secunty Instrument Immediately before the partial taking, destruction, or loss m value, unless BOITower and Lender otherwIse agree 10 wnting, tbe sums secured by this Secunty Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by tbe following fraction: (a) the total amount of the sums secured immediately before the partial taking, destructIon, or loss in value divIded by (b) the fair market value of the Property mlmediately before the partial taking, destructIon. or loss m value. Any balance shall be paid to BoITower. In the event of a partial taking, destructIOn, or loss 10 value of the Property in which the fair market value of the Property lmmediately before the partial taking, destruction, or loss m value 18 less than the amount of the sums secured lIDmediately before the partial taking, destruction, or loss m value, unless BoITower and Lender otherwlse agree m wnting, the Miscellaneous Proceeds shall be applied to the sums secured by this Secunty Instrument whether or not the sums are then due. If the Property IS abandoned by BOITower. or 1Í. after nobce by Lender to Borrower that the Opposmg Party (as defined in the next sentence) offers to make an award to settle a clalID for damages, BoITower fails to respond to Lender within 30 days after the date the notice IS given, Lender IS authonzed to collect and apply the Miscellaneous Proceeds eIther to restorabon or repaIr of the Property or to the sums secureG by this Secunty Instrument, whether or not then due. II Opposmg Party" means the third party that owes BOITower MisceIlaneous Proceeds or the party agamst whom BOITower has 11 nght of action In regard to Miscellaneous Proceeds. BoITower shall be m default If any· action or proceeding, whether CIvil or cnDllnal, IS begun that, In Lender's Judgment, could result m forfeiture of the Property or other matenal lmp8lrment of Lender's mterest m the Property or nghts under this Secunty Instrument. Borrower can cure such a default and, If acceleratJon has occurred, remstate as provIded in Section 19. by causing the aobon or proceeding to be disDllssed With a ruling that, m Lender's Judgment, precludes forfeiture of the Property or other materIal lIDpamnent of Lender's mterest m the Property or nghts under this Secunty Instrument. The proceeds of any award or clwm for damages that are attributable to the Impwrment of Lender's mterest in the Property are hereby assIgned and shall be p81d to Lender. All Miscellaneous Proceeds that are not applied to restoratIon or repalf of the Property shall be applied in the order provIded for 10 Sechon 2. JAQUES,C301079 301079 InltIaIS:.f!.t;i FOITl1 3051 1/01 cD -6A(WY) (0005).01 é i) Page 9 0115 --__........-.r1 O~2820lt 000730 12. Borrower Not Released; Forbearance By Lender Not a Waiver. ExtensJOn of the time for payment or modification of amortizatton of the sums secured by this Secunty Instrument granted by Lender to Borrower or any Successor m Interest of Borrower shall not operate to release the liability of Borrower or any Successors m Interest of Borrower. Lender shall not be required to commence proceedings against any Successor In Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the onglnal Borrower or any Successors In Interest of Borrower. Any forbearance by Lender m exercising any fight or remedy Including, without limItation, Lender's acceptance of payments from third persons, entities or Successors m Interest of Borrower or 10 amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any nght or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns JJound. Borrower covenants and agrees that Borrower's obligations and liability shall be Jomt and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a · cO-SIgner"): (a) is co-signing this Secunty Instrument only to mortgage, grant and convey the co-signer's mterest in the Property under the terms of this Secunty Instrument; (b) is not personally obligated to pay the sums secured by this Secunty Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modifY, forbear or make any accommodations with regard to the terms of this Secunty Instrument or the Note without the co-slgner's consent. Subject to the provisions of Sectlon 18, any Successor In Interest of Borrower who assumes Borrower's obligatIons under this Secunty Instrument In wnting, and is approved by Lender, shall obtam all of Borrower's nghts and benefits under tlùs Secunty Instrument. Borrower shall not be released Jrom Borrower's obligations and liability under this Secunty Instrument unless Lender agrees to such release m wnting. The covenants and agreements of this Secunty Instrument shall bind (except as provided In Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for servtces performed m connection with Borrower's defauh. for the purpose of protectmg Lender's mterest m the Property and nghts under this SecUrity Instrument, mcluding, but not lumted to, attorneys' fees. property mspection and valuation fees. In regard to any other fees, the absence of express authority In this Secunty Instrument to charge a specúic fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Secunty Instrument or by Applicable Law. If the Loan IS subject to a law which sets maximum loan charges, and that law IS finally mterpreted so that the mterest or other 10811 charges collected or to be collected in 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 permitted limIt; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducmg the pnnclpal 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 Wlthout any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower wIll constitute a watver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender In connection With this Secunty Instrument must be m wnting. Any notlce to Borrower m .connection with this Secunty Instrument shall be deemed to have been gIven to Borrower when mailed by first class mall or when actually delivered to Borrower's notloo address ú 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 nobce to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reportmg 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 Secunty Instrument at anyone time. Any notice to Lender shall be gIVen by delivenng It or by mailing It by first class matI to Lender's address stated herem unless Lender has designated another address by notIce to Borrower. Any notICe m connection WIth this Secunty Instrument shan not be deemed to have ·been given to Lender until actually received by Lender. If any nobce reqUIred by this Secunty Instrument IS also required under Applicable Law, the Applicable Law reqUIrement WIll satisfy the corresponding reqUIrement under this Secunty Instrument. JAQUES,C301079 301079 _ -6A(WY) (0005).01 Qþ Pllge 100/ 15 ----,.- J, InltlQIO:.f2t;¡d. Form 3061 1/01 O~28204 000731 16. Governing Law; Severability; Rules of Construction. This Secunty Instrument shall be governed by federal law and the law of the JurisdictIOn m which the Property IS located. All nghts and obligahons contamed In this Secunty Instrument are subject to any requIrements and linutations of Applicable Law. AppJicable Law mIght explicitly Ør unplicJtly allow the parties to agree by contract or It rmght be silent, but such sJlence shall not be construed as a prohibition agamst agreement by contract. In the event that any provision or clause of this Secunty Instrument or the Note conflicts With Applicable Law, such conflict shall not affect other provisions of this Secunty Instrument or the Note which con be given effect WithOut the conflictmg provision. As used 10 this Secunty Instrument: (a) words of the masculine gender shall mean and mclude corresponding neuter words or words of the femmme gender; (b) words m the singular shall mean and Include the plural and VIce versa; and (c) the word "may" gIves sole discretIOn wIthout any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Secunty Instrument. 18. Transfer of the Property or a BeneficIal Interest in Borrower. As used m this Section 18, "Interest m the Property" means any legal or benefiCIal interest m the Property, mcluding, but not limited to, those beneficIal interests transferred in a bond for deed, contract for dêed, mstallment sales contract or escrow agreement, the mtent 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 û Borrower is not a natural person and a beneficial interest In Borrower IS sold or transferred) Without Lender's pnor written consent, Lender may requIre unmediate payment m full of all sums secured by this Secunty Instrument. However, this option shall not be exercised by Lender û such exercise IS prohibited by Applicable Law. If Lender exercIses this option. Lender shall give Borrower nohce of acceleration. The notice shall provide a penod of not less than 30 days from the date the notice IS given m accordance with Sechon 15 within which Borrower must pay all sums secured by this Secunty Instrument. If Borrower fails to pay these sums pnor to the expiratíon of this penod, Lender may Invoke any remedies permItted by this Secunty Instrument Without further notice or demand on Borrower. 19. Borrower's lUght to Reinstate After Acceleration. If Borrower meets certam conditions, Borrower shall have the nght to have enforcement of this Secunty Instrument discontmued at any hme pnor to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Secunty Instrument; (b) such other penod as Applicable Law nught specify for the tenmnahon of Borrower's nght to remstate; or (c) entry of a Judgment enforcing this Secunty Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Secunty Instrument and the Note as If no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses mcurred in enforcmg this Secunty Instrument, including, but not limIted to, reasonable attorneys' fees. property mspectlon and va)uatJon fees, and other fees Incurred for the purpose of protecting Lender's mterest m the Property and nghts under this Secunty Instrument; and (d) takes such acbon as Lender may reasonably requIre to assure that Lender's mterest 10 the Property and nghts under this Secunty Instrument, and Borrower's obligation to pay the sums secured by this Secunty Instrument, shall contmue unchanged. Lender may require that Borrower pay such remstatement sums and expenses m one or more of the following forms, as selected by Lender: (a) cash; (1;» money order; (c) certûied check, bank check, treasurer's check or cashier's check, provided any such check 1S drawn upon an mstttution whose deposits are insured by a federal agency, Instrumentality or entity; or (d) Electronic Funds TratJ.sfer. Upon remstatement by Borrower, this Secunty Instrument and obligations secured hereby shall remalO fully effecttve as If no acceleration had occurred. However, this right to remstate shall not apply 10 the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest m the Note (together with this Secunty Instrument) can be sold one or more urnes Without pnor notice to Borrower. A sale might result m a change m the entity (known as the "Loan Servlcer") that collects Penodic Payments due under the Note and this Secunty Instrument and pelfonns other mortgage loan servlcmg obligations under the Note, this Secunty Instrument, and Applicable Law. There also mIght be one or more changes of the Loan Servlcer unrelated to a sale of the Note. If there IS a change of the Loan Servlcer, Borrower w1l1 be given wntten DOUce of the change which wIll state the name and address of the new Loan Servlcer. the address to which payments should be made and any other mformation RESP A JAQUES,C301079 301079 In"¡all: f!t:;iI Form 3061 1/01 .. -8A(WY) (0005).01 œ¡ Page 11 01 15 ---- O~~820l\ 000732 req~lres in connection wIth a notice of transfer of servicmg. If the Note IS sold and thereafter the Loan IS servtced by a Loan Servlcer other than the purchaser of the Note, the mortgage loan servlcmg obligations to Borrower will remam wIth the Loan Servlcer or be transferred to a successor Loan Servlcer and are not assumed by the Note purchaser unless otherwise proVided by the Note purchaser. Neither Borrower nor Lender may commence, Jom, or be Jomed to any JudiC1al actton (as either an individual litigant or the member of a class) that anses from the other party's acttons pursuant to this Secunty Instrument or that alleges that the other party has breached any proVision of, or any duty owed by reason of, this Secunty Instrument, until such Borrower or Lender has notified the other party (wJth such nottce glVen in compliance wtth the requirements of Section IS) of such nlleged breach and afforded the other party hereto a reasonable period after the givmg of such notice to take corrective action. If Applicable Law provides a ttme penod which must elapse before certam aCtion can be taken. that tune period will be deemed to be reasonable for purposes of this paragraph. The nobce of acceleration and opportunIty to cure glVen to Borrower pursuant to SectlOn 22 and the notice of acceleration given to Borrower pursuant to SectlOn 18 shall be deemed to sahsfy the notice and opportUnIty to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used m this Section 21: (a) "Hazardous Substances" are those substances defined as toxIC or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or tOXIC petroleum products, tOXlC pesticides and herbicIdes, volattle solvents, matenals contammg asbestos or formaldehyde, and radioactive matenals; (b) "EnvIronmental Law" means federal laws and laws of the Jurisdiction where the Property IS located that relate to health, safety or enVironmental protection; (c) "Envlfonmental Cleanup" includes any response nctIon, remedial actton, or removal action, as defined in EnvIronmental Law; and (d) an "Environmental Condition" means a condition that can cause, contrIbute to, or otherwise tngger an Environmental Cleanup. Borrower shall not cause or penmt the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (8) that IS m violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantlties of Hazardous Substances that are generally recogrnzed to be appropnate to nOlmal residential uses and to mamtenance of the Property (including, but not limIted to, hazardous substances m consumer products). Borrower shall promptly give Lender wntten notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or pnvate party mvolvmg the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, mcluding but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or IS notified by any governmental or regulatory authonty, or any private party, that any removal or other remediatIon of any Hazardous Substance affectmg the Property IS necessary, Borrower shall promptly take all necessary remedial actions In accordance WIth Envuonmental Law. Nothing herem shall create any obligation on Lender for an Environmental Cleanup. JAQUES,C301079 301079 Inlt\a <1;¡Ji Form 30111 1/01 cs -6A(WY) (0005).01 (!I Pag.12 of 15 -.- O~2820l~ 000733 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to norrower prior to a~eJeratlon following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the Dotice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result In acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleradon and the right to bring a court action to assert the non-exlstence of a default or any other defense of .Dorrower to acceleration and salc. If the default Is not cured on or before the date specified In the notice, Lender at Its option may require Immediate payment in full of all sums secured by this Security Instrument without further demand and may invoice the power of sale and any other remedies pennitted by Applicable Law. Lender shall be entitled to collect aU expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fecs and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in posscssion 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 15. 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 expenscs of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Secunty Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Secunty Instrument, but only lf the fee IS pald to a third party for services rendered nnd the chargmg of the fee IS pernutted under Applicable Law. 24. Waivers. Borrower releases and W81ves all nghts under and by virtue of the homestead exemptlon laws of Wyommg. JAQUES,C301079 301079 Inltlalil;2i Form 3061 1/01 C8 -6A(WY) (0006).01 ~ Pllge13 of 15 092820'* 000734 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contamed In this Seeunty Instrument and in any Rider executed by Borrower and recorded wIth It. Witnesses: (Seal) (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower JAQUES,C301079 301079 G-6A(WY) (0005).01 Ii> Page 14 of 15 Form 3051 1/01 Oo(;'?L1"':»O "t ~"'-\":J~ ~.t' STATE OF WYðMINC; Arizona Pinal ~ 000735 County IS: The fore~omg mstrument was acknowledged before me this 02... Aya : '- '2.007 by CINDY JAQUES HEMMERT My CommissIOn Expires: ;) VI\JIt' ;) I c9-0o'ì- ,-...- VIC~g~c~L~~~TE I 8 NOTARY pUBLIC - S",. of Arizona PINAL COUNTY Notary Public My Cgmm, Expires June 2, 2009 ~A JAQUES,C301079 301079 ,".~.ß¡i Fonn 3061 1/01 _ -8A(WY) (0005).01 CI> Page 15 01 15 -,- ......-........_--.¡r- 000736 O~ZS204: VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER is made this 2nd day of April, 2007 , and is incorporated into and shall be deemed to aménd and supplement the Mortgage, Deed of Trust or Deed to Secure Debt (herein "Securîty Instrument") dated of even date herewith, given by the undersigned (herein" Borrower") to secure Borrower's Note to iFREEDOM DIRECT CORPORATION, A CORPORATION (herein" Lender") and covering the Property described in the Security Instrument and located at 190 DANA STREET, THAYNE, WY 83127 [Property Address] VA GUARANTEED LOAN COVENANT: In addition to the covenants and agreements made In the Security Instrument, Borrower and Lender further covenant and agree as follows: If the indebtedness sec.ured hereby be guaranteed or insured under Title 38, United States Code, such Title and Regulations Issued thereunder and In effect on the date hereof shall govern the rights, duties and liabilities of Borrower and Lender. Any provisions of the Security Instrument or other Instruments executed In connection with said Indebtedness which are inconsistent with said Title or Regulations, including, but not limited to, the provisIon for payment of any sum In connection with prepayment of the secured indebtedness and the provision that the Lender may accelerate payment of the secured indebtedness pursuant to Covenant 18 of the Security Instrument, are hereby amended or negated to the extent necessary to conform such instruments to said Tltie or Regulations. JAQUES,C301079 301079 MULTISTATEVA GUARANTEED LOAN AND ASSUMPTION POUCY RIDER ~}i~~~;:~:~;i ~ 11I11111111111111~1~lmllll OSJ2820(t 000737 LATE CHARGE: At Lender's option, Borrower will pay a "late charge" not exceeding four per centum (4%) of the overdue payment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured hereby. GUARANTY: Should the Department of Veterans Affairs fail or refuse to Issue its guaranty in full amount within 60 days from the date that this loan would normally become eligible for such guaranty committed upon by the Department of Veterans Affairs under the provisions of Title 38 of the U.S. Code "Veterans Benefits," the Mortgagee may declare the Indebtedness hereby secured at once due and payable and may foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided. TRANSFER OF THE PROPERTY: This loan may be declared immediately due and payable upon transfer of the property securing such loan to any transferee, unless the acceptability of the assumption of the loan IS established pursuant to Section 3714 of Chapter 37, Title 38, United States Code. A.n authorized transfer ("assumption") of the property shall also be subject to additional covenants and agreements as set forth below: (a) ASSUM PrION FUNDING FEE: A fee equal to a half of one percentage point (0.5000 %) of the balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the loan holder or its authorized agent, as trustee for the Department of Veterans Affairs. If the assumer fails to pay this fee at the time of transfer, the fee shall constitute an additional debt to that already secured by this Instrument, shall bear interest at the rate herem provided, and, at the option of the payee of the indebtedness hereby secured or any transferee thereof, shall be Immediately due and payable. This fee is automatically waived If the assumer Is exempt under the provisions of 38 U.S.C. 3729 (c). (b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow assumption of this loan, a prooessing fee may be charged by the loan holder or Its authorized agent for determining the creditworthiness of the assumer and subsequently revising the holder's ownership records when an approved transfer Is completed. The amount of this charge shall not exceed the maximum established by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37, Title 38, United States Code applies. (c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then the assumer hereby agrees to assume aU of the obligations of the veteran under the terms of the instruments creating and securing the loan. The assumer further agrees to Indemnify the Department of Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this Instrument. JAQUES,C301079 301079 .-538R (0405) œ Page 2 of 3 Initials: {þd. ,-- -- O~28204 000738 IN WITNESS WHEREOF, Borrower(s) has executed this VA Guaranteed Loan and Assumption ao. ,Rider. ',. o CINDY -Borrower -Borrower -Borrower -Borrower -Borrower -Borrower -Borrower JAQUES,C301079 SM538R (0405) 4Þ 301079 Page 3 of 3