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Home My WebLink About928520 7 { '-" 'ú ( I u) ,\ \(\ Return To: A~~reài~ed Home Lenders, Inc. Attnr Post C~OS1D~ Dept. 16550 West Bernardo D~. 814g 1 s~ Diego, CA 92127w1870 Prepared By: Accredited Hame Lenders, Inc. A C.lito~i. Co~o~.tion 10900 Stonelake Dl~ suite 350 Austin, TX 7875'-58G7 [SpICe Above This LIDe ror Recordlllg Dltl] MORTGAGE MIN 100176107040560848 DBPINmONS RECEIVED 4/17/2007 at 4:33 PM RECEIVING # 928520 BOOK: 654 PAGE: 790 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY I Words used in multiple, seçtions of this doc\1nlCllt are defmed below and other words are dctimld in sectiona 3, 11, 13, 18. 20 and 21. Cenain mles regarding the usage of words used in this docume~t are alao provided in Section 16. (A) "~rity Instrument" means this document, which is dated~pr; 1 13. 2007 together with all Riders to this document. (B) "Borrower" is JOHAN ROWLEY AND LAURA ROWLEY, AS HUSBAND AND WIFE Borrower is the mortgagor un<1er this Security Instroment. (C) IIMERSII is Mortgage Electronic Registration Systems, mo, MBRS is a sep¡u'llte oorporation tfiat is IWting solely as a nominee for Lender and Lender's successors and assigns. MERS Is the ¡Donlagee under this Security Instrument. MBRS is organized and existing under the laws of Delaware. and his an address and telephone number of P,O. Box 2026, Plint, MI 48'01-2026, tel. (888) 679"MERS. I I i 0704056084 Farm 3051 ! 1/01 , I WYOMINQ·8Inglll Flmllv'f1nnle Mill/Friddle Mlc UNIFORM INSTRUMENT WITH MERI _,8AIWYIIOOOSI,OI P.g.1 of 1& Inlll'I':~ VMP MORTGAGE FORMS - (8001&21-7211 9LO/lEOd EV:E~ ¿OOl E~ jd~ 09285Z0 I QOO?91 (D) "Lenderhls Accred1ted Home Lendersþ Inc. A California Corporation Lender is a Corporati on . organized and existing under the laws of the State of, 'Cali forni a Lender's address is 10900 Stone1 ake 81 v·d Suite 350 I Austin. TX 78759-5867 I (E) "Note" means the promissory note signed. by Borrower and da1edApr1 1 13, 2007 I The Note states that Borrower'owes Lender one hundred e; ghty- one thousand e; ght I hundred and 00/100 ~l~ (U ,S, $IBl, BOO. 00 ) plus interest. Borrower has promised to pay thi!! debt in regu11U' Pezlodic Payments and to pay the debt in full not later than May 1. .2037 . I (F) "Propertyll means the property that is d.escribed below under the headin,g "Transfer of Rights in the Property. " I (G) IlLoltnl' means the debt evidenced by the Note, plus interest, any prepayment cbJu'ges and late clu!rge.s due under the Note, and al1 sums due under this Security Instrument, plus interest. : (H) "Ri~ers" means all Riders to this Security m-tr\m1ent that are executed by Borrower. The rollo-ring Riders are to be executed br Borrower [check box. as applicable): I i m Adjustable Rate Rider D Condominium Rider D Second Home Rider I o Balloon Rider D Planned Unit Development Rider D 1-4 Frunily Rider : D VA ruder 0 Biweekly Paymènt Rider 0 Otber(s) [specify] I I I I I (l) "Applicable Law" means all controlling applicable federal, state and local statutes, regulaqons, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable tma1, non-appealable judicial opinions.' . I (J) "CommUDit1 AssC»ciation Dues, Fees, aod AøseslDlents" means all dues, fees, assessments and other charges that are imposed on 'Borrower or the Propeny by a condomlniwn association, homeowners association or similar organization. ! (K) IIEledronlc Funds Tr_er" means any transfer of fundi, other than B transaction originated by check, draft, or similar paper inBtlument, which Í8 initiated through au, electronic terminal, telep#onic 'instrument, computer, or magnetic tape so as to order, insuuct, or authorize a financial institution to debit Dr cm1it .an acgount. Such term includes, but is not limited to, point-or-sale transfers, automated teller machine transaerions, transfers initiated by telephone, wire trllD8fers, and Inltomated clearinghbuse ~oo,' ! (L) "Escrow Items" means those itewa that are described in Section 3. . I (M) "MisœIIaneons Proceeds" means any compens.ion, settlement, award of damages, or proceeds ~aid by any third party (Other than inllUIllÌICe proceeds paid under the coverages described in Section S) fO,: (i) damage to, or dcstruction of. the Property; (li) condemnation or other taldng of all or any pan of the Propeny; (iii) conveyance in lieu of condemnation: Or (iv) misrepresentations of, or omissions as to! the value andlor condition of the Property. . I . (N) "Mortgage Jnsuranee" means insurance protecting Lender agaiust the nonpayment of, or default on. ~~. I (0) "Periodic Payment II means the regularly !!cheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. I (P) "KESPAn means the Real-'Brnate Settlement Procedures Act (12 U.S.C. Section 2601 et seq,) ana its implementing regulation, Regulation X (24 C.P.R. Part 3500), as they might be amended from tiMe 10 time, or any additional or successor legislation or regulation that governs the SIUIle subject matter. As used in this Security Instrument. "RESPA" refers to all requirements and restriction!! that are hDposed in regard to a "federally related mortgale loan" even if the Loan does not qualify as a "federally related mortgage loan" under RBSPA, ¡ 0704056d84 I Førm 3061 11101 I I I I I ~'6AIWYJ IOaa&l.o2 Plge 2 of 1 & ""'~ 9LO/~~Od ~V:~~ LOO~ ~~ Jd~ O~Z8520 000792 (Q) "Successor In Interest of Borrower" melDS any party that has taken title· to the Propert)', whether or not that party Jw assumed Borrower's obligations under the Note and/or this Security Instrument, TRANSFER OF RIGHTS IN THB PROPERTY This Security hultnunent seçures to Lender: (i) the repayment of the Loan, and all renewals, e~tensiona and modifications of the Noto; and (it) the performance of Borrower's covenants and agreementS under this Security Instrument and the Note. For this purpose, Borrower does hereby mongage, grant and coDvey to MERS (solei)' as nominee for Lender and Lender's successors and allsigns) and to the succesaors and assigns Df MBRS, with power of sale, the following described property located in the County of LINCOLN (Type of Recording J'url&dlc:tlon] [Name of Recording J'urlsdlctlon] See Legal Description Addendum Page Attached ParcellD Number: 31191040015600 5344 B¡TTERCREEK RD AFTON ("Property Address"): TOGB'I1ŒR WITH all the improvements now or bereafter erected on the property, and all easements, appu.rteJ1anCcs, and (1Xtt1res now or hereafter a pan of the propeny, AU replacements IID.d additions shall also be covered by this Security InstrUment. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MBRS holds only legal title to the interests granted by BOITOwer in this Security Instnu:nent, but, if necessary to comply with la~ or custom, MERS (as nOUÙI1ee for Lender and Lender's successors and Msigna) has the right: tQ exercise any , or aU of those intetests. including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. . BORROWER COVENANTS that Borrower is lawflllly seised of the estate hereby conveyed and has the right 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 title to the Property against 811 claimi and demands, subject to any encumbrances of record. TIUS SECUlUTY INSTRUMBNT combines uniform covenants for natioJ:UÚ use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. which currently has the address of [Street] [City] , Wyoming 83110 (Zip Cod,) P.a. 3 of 1& ._~ 0704056064 ~.eAIWYI 100051.02 Farm 30&1 1/01 9LO/VEOd EV:E~ LOOl E~ Jdij O~28520 000793 UNIFORM COVENANTS. Borrower and Lender covenant and agree as tanows: 1. Payment of Princlpal, Interest,' Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note, BOITOwer shaU also pay funds for Escrow Items pursuant to Section 3. Payment$ due under the Note and this Seçurity mstrumcDt shall be made in U,S. currency. However þ . 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 œquiœ that any or all subsequent payments duè under the Note and this Security Instmment be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured. by a federal agency, instrumentality, or entity; or '(d) Electronic Funds' Transfer. Payments are deemed' reteived by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section IS, Lender may return my payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or paniat payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or, partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scbeduleq due date. then Lender need not pay interest on unapplied fuIids. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan C11ITCD.t, If BOITOwer does not do fiO within a reasonable period of time, Lender shall either apply such funds or retum them to Borrower; If not applied'earlier, such funds will be applied to the outstanding principal balBIlce under the Note iInmediately prior to foreclosure. No offset or claim which Borrower might have now or in the future agwt Lender shall relieve B011'0wer from making payments due under the Note and thi& Security Instrument or performing the coveoantB and agreements secured by this Seçurity Instrument, 2. Application of Payments or Proœeds. Except as otherwise described in this Section 2. all payments ~ted IIJ1d applied by Lender shall be applied in the follow1n,g order of priority; (a) interest due under the Note: (b) principal due under the Note; (c) amounts due under Section 3. Such payments sha1l be applied to each per10dic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instroment,and then to reduce the principal balance of the Note. , If Lender receives a payment from Borrower for a delinquent periodic Payment which includes a sufficieot .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 Periodic Payments if, and to the extent that, each payment can be paid in full. To the eJttent that any çxce.ss exists ,after the payment is 'applied to the fult payment of one or more periodic Payments, such eJtcess may be applied to any late çharg~ due, Voluntary prçpayments shall be applied tirst to any prepayment charges and then as described in the Nate, , Any application of payments, 'insurance proceeds, or Misçe1laneous Proceeds to principal due under the Note s1ud1 not extend or postpone the due date, or changc the' amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts (1)c for: (a) taxes and assessments and other items which can attain priority over this Security lostrument as a lien or encwnbrance on the Property; (b) leasehold payments or'ground rents on the Pnlperty, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of section 10. These items are called "Escrow Itema." At origination or at any time .during the tenn of the Loan. Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues. fees and 8Ssesaments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Punds. for any or aU Escrow Items. Lender may waive Borrower's obligation to pay to Lender Poncls for any or all Escrow Items ~t any time. Any such waiver may only be ~ writing. In the event of such waiver, Borrower shall pay directly, when and where payablc, the amounts PI91 4 qf IB --'-1- 0704056084 _SAIWVIIDDD51.D3 Form 30&1 1/01 9LO/SEOd EV:E~ LOOl E~ Jd~ o~zsszo 000794 due for any Escrow Items for which payment of Funds tw b~ waived by Lender and, ~f Lender requires, shall furnish to Lender receipts evidencing .such .payment within such time period as Lender mßY require, Borrower's obtigaûon to make such payments and to' provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used In Section 9. If Borrower is obligated to pay E5cr0w Items directly, pursuant to a waiver, and Borrower fails tD pay the' amount due for an Escrow Item, Lender may ~ercise its rights under Section 9 and pay such amount arid Borrower shall then be obligated under Section 9 to repay to Leader any such amount, LenØer may revoke the wai-ver as to any or aU Bscro~ Items at any time by a notice given in accordance with Section IS and, upon such teV'ocation. Borrower shall pay to Lender all Funds. and in such amaunts, that are thc:n required under this Secûon 3.' Let1der may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum àmount a lender can require under RESPA. Lender aball estimate the amount of Funds due on the basis 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 deposita are insured by a federal agency, instrumentality, or entity (including .Lender, if Lender is an institution whose deposits lU'e so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA, Lender shall not charge Borrower for holding and applyin¡ the Funds, annually analyzing the çscrow acçount, or verifying the Esçrow IteIns, unlelis Lender pays Borrower interest on the FuIuk and Applicable Law permits Lender to make such a charge, Unless an agrcement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower imd Lender can agree in writing, however, that interest shall be paid on the Funds, Lender shall give to Borrower; without cblU'ge, an annual accounting of the Funds as required by IWSP^. " If tl1ere is' a surplus of Funds held in escrow. as defined under RESPA, Lender sball account to Borrower for the excèss funds in aœordance with RBSPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RBSPA. IW.d BOß'Ower shall pay to Lender the amount necessary to make up the shortage in·accordance with RBSPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, 118 defined under RBSPA, Lender shall notify Borrower 116 required by RBSPA, and Borrower Shall pay to Lender the amount neçessary to make up the deficiency in accordance with lWSPA, but in DO 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 Lc:nder. 4. Charges; Liens. Borrower shall pay aU taxes, assessments, charges, fines, and impositions attrlbuÙlble to the Property which can attain priority over this security Instrument, leasehóld payments or ground rents on the Proptrty, if any, and Community Association DUC5, Pees, IUId AS8œsments, if ¡my, To the extent that these items are Esçrow Itel118. Borrower shall pay them in the manner provided in Section 3, Borrower shaH promptly discharge any lien which has priority over this Security 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 performiDg such agreement; (b) contesta the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion oper81e to prevent the enforcement of the lic:n while those proceedings are pending, but only until suçh pmcèedings are concluded¡ or (c) secures from the holder of the lic:n an agreement satisfactory to Lender subordinating the lic:n to this Security Instrument. If Lender determines' that any pan of the Property is subject to a lien which can attain priority over this Security Jnstmment, Lender may give Borrower a notice identifying the ~,øA(WYI ID0051.D2 P~;a 6' af 18 """',1 0704056084 FDrm 30&1 1'01 9LO/9EOd EV:E~ LOOl E~ Jd~ O~Z8520 000795 lien. Within 10 days of the date on which that 'notice il given, Borrower lballlatlsfy the lien or take one or more of the actions set forth above in this Section 4, Lender may require Borrower to pay a one-rime charge for a real estate tax verifICation and/or reporting rservicc used by Lender in çonneçtioll with tbi8 Loan, 5. Property mmrance. Borrower'shaU keep the improvemems 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, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts· (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shaU be choaen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracldng services; or (b) a o11ewthne charge for flood zone determination and certification services 'and subsequent øhuges each time remappings or simiIu changes occur which l'e8Iionably might affec~ such detennination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the: review of any flood zone determination resulting from an objection by Borrower. If l3orrower falls to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense" Lender is under no obligation to purc:lwe any particular type or BIDount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the çontents of the Propc:rty, against any risk, høzard or liability and might provide greater or lesser coverage. than was previously Ì11 effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the COlt of insurance that Borrower could have òbtained. Any amounts disbursed by Lender under this Secûon S shall beéome additional debt of Borrower secured by this Security Instrument, These amounts shall bear interest at the Note rate trom the date of disbursemcm 'and shaU be payable, ,with such interest, upon notice from Lender to Borrower requesting payment. . All in8urance policies required by Lender and mJewals of such policies shall be subject to Lender's right to disappro'Ve such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee md(or 18 an additional lOBs payee. Lender shall have 1he right to hold the policies 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 insur.ance coverage, not othe~ise required by Lender, for damage to, or destruction of, the Property, such policy shall include a litaDdard mortgage clause IIld shall name Lender 18 mortgagee and/or 18 III additional loss payee, In the event of los8, Borrower shall give prompt notice to the insurance carrier and. LeDder, Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying iJisurance 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. During such repair and restoration period, Lender shall haye the rlght to hold such insurance proceedS until Lender has had III opportunity to inspect such Property to ensure the work has been completed to LeØder's så.tisfaction, provided that such inspection sbaJJ be undertake:n promptly, Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress pa)'me.uts as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds, Fees for public adjusters, 01.' other third parties, retained 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 Dr ~ender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instnunent, whether or not then due, with ca';6AIWYJ {0006,02 Pag,' all. .~~ 0704056084 Form 30&1 1101 9LOILEOd EV:E~ LOOl E~ Jdij UOO?96 O~Z85Zo. the cxçesa, if any, paid to Bonowct, Such Ù!I\mIDCe proçeedl aha11 be applied in the order provided for in Section 2, If Borrower abandons the Property, Lender may tile, negotiate and settle any available ÏI1811rIIIU:e claim and related matters. If Borrower doCII not respond within 30 days'to a notice from Lender that the Insurance carrier hall 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 acquires the Pr~y under Section 22 or otherwise, Borrower hereby llisigns to Lender (a) Borrower's rights to any i.nsm:ance proceeds in an amount not to exceed the amounts unpåid under tbe Note or this Security Instrument, and (b) any other of Borrower's rights (other than the light to any refund of \µlearned premiums paid by Borrower) under all insurance policies covering the Pn;¡perty, insofar as such' rights are applicable to the coverage of the Propeny. 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. OCC:UpBDcy. Bo~wer shall occupy, establish, and use the Prnpeny as Borrower's principal residence within 60 days after the execution of this Secunty Insuument and shall continue to occupy the Propeny 88 Borrower's principal residem:e for'at least one year after the date of occupancy, unless Lcn<Ier otherwise agrees in writing, which consent shall not be unreasonably witbheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Propeny, Wheth~ OJ,' not Borrower is residing in the Property, Borrower shall maintain the Property in ordœ- to prevent the Property from deterioratin¡ or decreasing in value due to ita condition. Unless it is determined p-Iµ'suant to Section 5 that repair or restoration is not economically fe88ible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condc:mnat.ion proççeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing 01' restoring the Property only if Lender has released proceeds for suçh purposes. Lender may disburse proceedS for the repairs and restoration in a single payment or in a series of ' progresa payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. , Lender or its agent may make reasonable entries upon and, inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower ngüce at the time of or prior to such an interior inspection specifying 8uçh reasonable cause. 8. Borrower'i Lcmn ÅppUçatlOD. Borrower shall be, in default if, during the Loan application process. Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited .to, representations concerning Borrower's occupancy of the Property iii Borrower's principal residence. . 9. ProtedtOQ of LeQder's Interest hi the Propèrty and Rights Under this Security Idstrument. If (a) Borrower tails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding thai: might significantly affect Lender's interest in the Property and/or rights under this Security Insuumem (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 abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Propcny and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing 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) appeøring in court: and (c) paying reasonable PaU 7 of 1 & ~..,~ 0704056084 C!II\,8AIWY) (OOOOI.O~ Form 3051 1/C)1 9LO/BEOd EV:E~ LOOl E~Jd~ O~285Z0 000797 JttOtneyS I fee.. to pl'oteçt its interest in the P1'operty anel/or rights under this Security Instrument, inclucUng its secured position in It bankruptcy proceeding. Securing the PIOpeny ·.includes, but is not limited to, entering the Property to make repairs, change locks, replace or. board up doors and. windows, drain water from pipes, eliniinate building or other eode violations or dangerous condiûons, and have utilities turned on or off, Although Lender may take action under this Section 9, Lender dOOlii not have to do so and Ûi not under any duty or obligation to do so. It is, agreed that Lender incurs no liability fo:' not taking any or aU aetions authorized under this Section 9" . . Any amounts disbursed by I,.endei' under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts sba11 bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to BOlTOwer :requesting paymelU. ' " If this Security Initnunent is on a leasehold, Borrower shall cOlnply with all the provisions of the lease, If lJorrower acquires fee title to the Property, the leasehold and the fee title' 5haU not merge unless Lender agrees to the merger' in writing. . 10. Mortgage Insurance. If Lender required Mortgage Insurance 88 a condition of making the Loan, BOlTOwer shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage InSurance coverage required by Lender CeWlCIJ iD be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payOlents toward the premiums for Mortgage Insurance, Borrower shpll pay, the premiums required to obtain coverage substantially equivalent to the Mongage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender, If substantially equivalent Mortgage Insurance coverage is not available, Borrower sha1l continue to pay to Lender the amount of the separately designated payn'leDtIJ that were due when the insurance coverage ceased to be in eft'eçc, Lender will, accept, use and reI;aln these payments as a non-refundable loss reserve in lieu of Mortgage Insurance, Such loss reserve shaJl be non-refundable, notwithstanding the fact that the Loan is ulbtely paid in full, and Lender shall not be required to pay Borrower any intereSt or earnings 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 available, is obtained, and Lender requires separately designated payn'lents toward the premiums for Mortgage Insurance. If Lender required Mortgage lDsurance as a condition of making the Loan and Borrower was required to møIœ separately designated pllymenti toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage ~urance in 'effect, or to provide a non-refundable 1068 reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or untU tcrmination is required by Applicable Law, Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note, Mortgage Insurance reimburses Lender (Dr any entity that 'purchases the NOle) fOJ' certain losses it may incur if Bon-ower does Dot repay the Loan 81 agreed, Bonower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all SIlch insurance in force from time to time, and may enter into agreements with other parties that share Dr modify their risk, or reduce losses. These agreements 8r9 on terms and conditions that are satisfactory to the .mortgage ilUlurer and the other party (OJ' parties) to these agreements. These agreements may require the mortgage insurer to make payments using any &Durce of lunda that the m9rtgage insurer may have available (which may include funds obtained from Mongage Insurance premiums). 'As a result of these agreements, Lender, any purçhascr of the Note, another iDSUrcr, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or' might be characrterized as) a portion of Borrower's payments fo:' Mortgage 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 &bare of the insµrer's risk in exchange for a share of the premium& paid to the insuref~ the arrangement is often termed "captive reinsurance," Further: (8) Any' such Bgreementø wiD DOt' affeá the amounts that BOlTOwer has agreed to pay for Mortgage Insuranee, or' any other tel'JDB or the Loan.' Such agreements will not increase the amount Borrower wID owe for Mortgage Insurance, and they will not entitll Borrowlr to any rel'lind. + 0704056084 Inlllall _.6AIWY! fOOU5,.UZ Pagl B gf U Form 3051 1/01 9LO/6g0d EV:g~ LOOl g~ Jd~ ü~28520 (b) ADYl1lœ agreemDntl wW DOt affect the rløhts Borrower bas . It 80y . with respect to the Mortgage Insurance under the HomeoWllers Protection Act of 1998 or 80y other law. Thae rights may Include the right to r~ve certain disclosures, to Rqne6t 80d obtain çanl:lllation of the Mortgage Insurance, to have the Mortgage Insorance tenoinatcd autollUlticaUy, 8Od/or to receive a refund of any Mortgage Insurance pren1iums that were DDearned at the time of !Iuch aulcellatlon or tenn1nadon. U. AulgnmeDt of Miscell8l1eous Proceeds; Forffiture. All Miscellaneous Proceeds are hereby assigned to and Shall be paid to Lender. . . It the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the :restoration ot' 'repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Propen)' to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress paynlents all the work is completed, Unlesll an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Prcx:eeds, Lender shaU not be required to pay BOrrower any interest Dr earnings on such Miscellaneous Proceeds, If the restoration or repair is not econoßÙcally feasible or Lend.er's security would. be lessened, the Miscellaneous Proceeds sball be applied to the sums secured by tbis security Instrument, whether or not then 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, destruction, or loss in valu.e of the Property, the Mùcellaneous Proceeds shalt be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In tbe event of a partial taking, destruction, 01' loss in vtllue of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or tOS8 in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the su.ms secured by this Security Instrument shalt be reduced by the amount of the MisceUaneous Proceeds m\l1ûptied by the 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 matket value of the Property immediately before the partial taking, destnlCÛoD, or 108S in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or 10&11 in value of the Property in which the fait' market value of the Property immediately before the panial .taking, dcstruction, or loss in value is less than the amount of the SUIQS secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the MisceUaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is· abandoned by Borrower, or if, after notice by Lender to Borrower that the Oppoling Party (as defined in the next sentence) offers to make an award to settle a claim for damagcs, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to coUect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Inst.ru.ment, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. . Bonower sbaU be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender' judgment, QOuld result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Insuument. Borrower can cure such a default and, if acceleration has occurred, reinstate 'as provided in Section 19, by causing the action or pro=mg to be: dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impainnent of Lender's interest in the Property are hereby. assigned and &ball be paid to Lender. AU Miscel1aneous Proceeds that are not applied tô restoration or repair of the Property shall be applied in the order provided for in Section 2, 000798 PI'D , II , & ,-,11(; 0704056084 _.~AIWVIIDDD&.D2. :!atm 30!î1 1/01 9LO/OVOd EV:E~ LOOZ E~ Jd~ O~Z85Z.0 000799 12. Borrow&" Not Released; Forbeanm"e By Leader Not a Waiver. Bxtension of the time for payment or modification of amortization of the swns secured by this Sccw::ity Instrument granted by Lender, to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any ~rs in Interest of Borrower. ~ sba11 not be required to commence proceedings against any Successor in Interest of Borrower or' to refuse to extend time for payment or otherwise modify amonization of the sums secured by,thi,s Security Instrwnent by reason Qf any demand made by the original BOlTQwer or ~y Successors in Interest of Borrower. Any forbearance by Lender in exercising any right Or remedy including, without limitation, Lender's acceptance of payments from. third persons, enûties or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. .Joint and Several, Liability; Co..signøJ'S; Successors and Asli;lp Bound. Borrower covenants and agrees thai: Borrower's obligations and liability shall be joint and several. However, any Borrower who CD-signs'this Seçurity Instrument but does not execute the Note (a "cowsigner"): (a) is CD-signing this Security Instrument only to mortgage, grant and convey the co-signer's ~t in the Propeny under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument¡ and (c) agrees that Lender and any other Borrower Çm1 agree to emend, wodify. forbelU' or make any accommodatioDJJ with regard to the terms of this Security Instrument or the Note without the co-signer's consent. . Subject to the provisions of Section 18, any Successor in Interest of Borrower who assUmes Borrower's obligations 'Under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security In8tnunent. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees ~o such release in writing, The covenants and agreements of this Security Instnlment shaH bind (except lIS provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Cbarga. Lender may ,charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, ¡'ut not limited to, attomeys' fees, property inspection and valuation fees, In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibiûon on the charging of such fee. Lender may not charge fees that are eçressly prohibited by this Security Instrument or by Applicable Law, If the Loan is subject to a law which sets maximum. loan charges, and that Jaw is finally inteIpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan chl!I'ge shall be reduced by the lIJIlount JJeCeSsary to reduce the charge to the pennitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits wiU be refunded to Borrower. Lender may choD5c to make this refund by reducing the principal owed under the Note or by making Q direct payment to Borrower, If a refund reduces principal. the reduction wilt be treated as a paniat prepayment without any prepayment charge (whctber or not a prepayment charge Is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to BDrrowerwill constitute a waiver of any right of action Borrower might have arising out of such overchlU'ge. . . , 15. Notices. . All noûçes given by BOlTQwer or Lender in conneoûon with this Security Instrument must be in writing. Any notice to Borrower in connection with 'this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other melUlS. Notice to anyone Borrower shall constitute notice to aU 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 sba11 promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then BOm)wer shall only report a change of "ddress through that specified proçedure. There may be Dnly one designated notice addreu under this Security InstruD1ent at any onc tilne, Any nDtiçe to Lender shall be given by delivering it or by mailing it by first class mall to Lender's address , stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any noûce required by this Security Instrument is also required under Applicable Law, the AppHcable Law requirement will satisfy the corresponding requirement under this Security Instrument. ' 4I\'8ACWYI 1000&1.02 1,,,..,--1t 'lglID of 1& 9LO/~VOd EV:E~ LOOZ E~ Jdij 0704056084 Form 3061 1/01 000800 O~28520' ". 16. Govwotng Law; Severability; Rules of CODBtruc:tlon. ThiI Security Inatrument IIbaII be governed by federal Jaw and the law ()f tbe jurisdiction. in which the Property is located, All rights and obligations contained in this ·Security Insuument are subject to any requirements and limitations of Applicable Law. Applicable Law might ~pUcit1)' or implicitly allow the parties to agree by contract or it might be silent, but such süence sball not be construed 81 a prohibition against agreement by contract. In the event that an)' provision or cløuse of this Security Instrument or the, Note confliots with Applicable Law. such conflict shall not affeQt other provisioDl of this security Instrument or the Note which can be given effi:ct without the conflicting provision. . As used in this Security Instrumcnt: (a) wOfds of the 1Duculine gender shall mean and include corresponding neuter words or words ot the feminJne gender; (b) words in the singular shall mean and include the plural and vice vet'lla; and (c) the woro "may" gives sole discretion without any obligation to take 8IIy action. 17. Borrowerl s Copy. BotTOwer sball be given one copy of the Note and of this Security InSUUIDePt. 18. Tnmsrer of the Property or a Benefidal Interest in Borrower. As used in this Seçtion 18, "Interest in the Property" means any legal or beneficial interest in the Property. including, but not limited to, those beneficial interests transferred in It bond for deed, contract for deed, installment sales contract or escrow agreement, the intent at whicb is the transfer of title by Borrower Jt It future date to a purchaser. If aU or any part of the Property or any Interest in the Property 18 sold or transferred (or if Borrower is not a ~ peI'lOD and a beneficial interest in Borrower is sold or ulUl8ferred) without Lender's prior written consent, Lender may require intmediate payment in full of all sums secured by this security Instrument. However, this option ~ not be exercised by Lender if such exercise is prohibited by Applicable Law, If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accorollDce \Vim Seçtion 15 within whicb Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pennitted by this Security Instrument without further notice Or demand on Borrower, 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, BotTOwer Bhall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (8) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument: (b) such other period as Applicable Law might· specify for the termination of Borrower's right to re.instate: or (c) CDU:y of, a judgment enforcing this Security Instrutnent. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) CUres any default of any other covenants or agreements: (c) pays all expenses incurred in enforcing this Sewrity Instrument. including, but not limlted to, reasODable attorneys' fees, property inspection and valuation fees, and other fees incurred for the pUIpOse of protecting Lender's interest in the Property and rights under this Security Instrument: and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower' 8 obligation to pay the sums secured by this SeC\lrity Instrument, sball continue unchanged. Lender may require that Borrower pay such relastatement sums and c~penses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order: (c) certified check, bank check, treasurer's check or cashier1s check. provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secUred hereby shall remain fully effective as if no acceleration had occurred. HDwever, this right to reinstate shall not apply in the case of acceleration under Section 18. , 20. Sale of Note; Change of Loan Survic:erj Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instromcnt) 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") that collects Periodic Payments due under the . Note and this Security Instrument . and performs other mortgage IOIlIl servic~g obligations under the Note. this Security Instrument, and ApplicJble Law, There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servlcer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the addreSs to wbich payments should be made and any other information RESPA ~ 0704056084 101110111+-/ 411!\-8AIWYII00051.02 PU. 11.11& 0' Form 30&1 1/01 9LO/lVOd EV:E~ LOOl E~ Jdij O~Z8520 OOOB01 requires in coWlection with 'a notice of transfer of servicing, If the Note is sold and thereafter the LoaD is serviced by a Loan Servicer other than the purchaser of the Note, the Inortgage loIUJ serviciDg obligations to Borrower will remain with the Loan Servicer Dr be transferred to a SUCCC580r Loan Servicer and are not assumed by the Note pun:hascr unless otherwise provided by the Note purchuer. Neither Borrower nor Lender may commence, join, or be joined to any Judicial action (as either an individual litigant or 'the member of a class) that arises wm the other party'lI actiODll purwant to this Sec:urity Ioatrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender hu noûfied the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giviilg of such notice to take corrective action. If AppliçQble Law provides a, time 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 of acceleration and opportunity to cure given to Borrower pu~t to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section ZOo 21. HamrdoUB Substances. As used in this Section 21: (a) "Hazardous SubstllDÇeS" IIIC tholle substances defmed as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the followin¡ substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatUe solvents, materials containing asbestos or formaldehyde, and radioactive materials: (b) "Environmental Law" means tederallaws and laws of the jurisdiction where the Property is located that relate to health, safety 9r environmental protection; (c) "Environmental Cleanup" includes any response action,' remedial action. or removal action, as defined in Environmental Law; and Cd) an "Environmental Condition" means a QonditiQD that can cause, contribute to, or otherwise trig¡er an Environmental Cleanup. ' Borrower shall not cause or permit the presence, use, dispOSal, storage, or release of any Hazardous Substances, or threaten to release any Hwrdous Substances, on or in the Property, Borrower shall not do, nor allow anyone else to do, anything lIffecting the Property (a). that is in violation of any Envirownental Law, (b) which creates an Environmental Conditio~, or (c) which, due to the presence, \lse, or release of a Huanious 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 quantities of Hazardous Substances that are generally recognized to be appropriate to nonna! residential uses and to maintenance of the Property (including, but not limited 19, hazardous substl1DCe/J in consumer products), Borrower shall promptly give Lender written notice of (a) . any investisation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, incluwng but not limited to, any spilling, leaking, discharge, release or threat of release of any H~s Substance, and (c) any condition Caulled by the presence, use or release of a Hazardous Substance which IIdversely atlects the value of the Property. If Borrower learns, or is notified by any govermnentBl or re~atory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower sha11 promptly take all necessary remedial 8ÇÛons in accordance with Enviromnental Law, Nothing herein shall create any obligation on Lender for an Bnvironmental Cleanup. _,6AIWYJ 1000&1,02 9LO/EVOd EV:E~ LOOl E~ Jd~ Po,. 12 01 1& .~,~ 0704056084 Førm 30&1 1/01 O~~85~O 000802 NON~UNIFORM COWNANTS. aorrower and Lender further covenant and a¡ree 118 tollows: 22. Aœeleration; Remedies. Lender shaD give nodce to Borrower prior to ac:œ1eradon following Borrower'. breadJ of any çovenant or agreemeot to tb1s Seauity Iustrumœat (but not' prior to acceleration UDder Section 18 uDless AppUcable Law provides otherwise). The notice sba1I spedfy: (8) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice 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 lI18y result in acceleration of the sums secured by this Sec:urity Instrument and Iale of th, Property; The notice sha1l1'urther inform Borrower of the right to relJut,Qte after açeeleration and the right to brlJ1g a çourt açtion to gert the non-existence of a det'ault or any other defense of Borrower to aœe1eration and sale. U the default Is not cUfed on OJ' before the date specified ill tbe notice, Lender at ita option may require immediate payment in run of all S1UWJ seCW'ed by this Seeurity Instrument without further demand and 11181 invoke the power of sale and any other remedies pennitted by Applicable Law. Lender shall be eotitled to collect aU expenses incurre!l in punuing the remedia provided in this Section 22, including, but not limited to, reasonable attorneys' rees and costs of title evidence. . If Lender b1vokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in polIIe8IÏOD of the Property, it dlfrenmt, in accordance with Applic:ablc Law. Lender shan give notice of the sale to Borrower in the manner provided In Section 15. Lender sbaU publish the notice of sale. and the Property sbaJI be sold in tbe manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shaD be appUed In the foUowing order: (a) to aU øpeDJe.I of the sale, Indudlng, but Dot Umlted to, reasonable attorneys' fees; (b) to all soms secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. ,UpDn payment of allllWDll secured by this Security Instrument, Lender shall release this Security Instnummt. Borrower shall pay any recordation costs, Lender may charge Borrower a fee for releuing thiB Security Instrument, bQt only if the fee is paid to a third PartY for services rendered. and the charging of the fee is permitted. under Applicable LlÌ.w. 24. Waivers. Borrower releases and waives all righti under and by virtue of the homestead exemption lawl! of Wyoming. G\,6AIWV) 1000&1.02 PDRI 1 hi 11 I,,,",,i/r- 0704056084 Form 3061 1/01 9LO!VVOd EV:E~ LOOZ E~ ~d~ 0'.:128520 000B03 BY SIGNING BELOW, Bonower accepts and a¡reell to the terms and covenants contained in tbi8 Securlty Instrwn~t md in my Rider executed by Borrower and recorded with it. WitneB!le8: G&;SAIWYllaaa61,az 9LO/SPOd Ep:E~ LOOl E~ Jd~ (Seal) -Borrowcr (Seal) -Borrower (Seal) ,Borrower c{~--Æ! ~ LAURA ROWLEY .0./7 (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) "Borrower PIGI14 If 16 Form 3061 1/01 0104056084 J?f!-/ ~ O~Z8S20 000804 STATE OF WYOMING, urQ.ö\n COUDty lIS: The foregoing instrument was acknowledged before me this \ ~ 0-\2 Ä (Jr l \ aoöì by LAURA ROWLEY, JOHAN ROWLEY My Commission ExpÎreli: 8. -~ -ðC\ OTAff( pUBUC -CHERYL A. JONES - N . State 01 Co~ Wyomln9 "'~\On evnlres Feb. 4. 2009 My Cornm.- "'^t" Qt.QUßJJ ~3yuD ry Public PIU 1& at 15 Inltllll: 11<-- F-- 0704056084 _,6AIWYI 100051,01 Form 30'" 1/01 9LO/9VOd EV:E~ LOOl E~ Jd~ ü~28520 000B05 Borrower Name(s): LAURA ROWLEY, JOHAN ROWLEY Lender: Accredited Home Lenders. Inc. A Cal1forn1a Corporat1on 10900 Stonelake Blvd Suite 350 Aust1n, TX 78759-5867 Loan #: 0704056084 Property AddrCIIs: 5344 BITTERCREEK RD AFTON, WY 83110 Legal DCll.':riptioo: LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF ~.~ M~N 100176107040560846 AHL 610 10 I.UFF ROWLEY Palle I ofl Lgall II 0704056084 9LOILVOd £V:£~ LOOl £~ Jd~ ORDER NUMBER: NTL-1239 O~28520 EXHIBIT "A" 000806 PART OF SECTION 10, TOWNSHIP 31 NORTH RANGE 119 WEST OF THE 6TH P.M., LINCOLN COUNTY, WYOMING BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE POINT OF THE STREET RUNNING NORTH AND SOUTH ON THE EAST SIDE OF F AIRVIEW TOWNSITE, AND 20 RODS SOUTH FROM THE NORTHWEST CORNER OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 10; AND, RUNNING THENCE EAST, 10 RODS; THENCE SOUTH, 8 RODS; THENCE WEST, 10 RODS; THENCE NORTH, 8 RODS TO THE PLACE OF BEGINNING, O~Z8SZ0 000B01 ADJUSTABLE RATE RIDER (LIBOR Six-Month Index (As Published 'In The Wall Street Journal)-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 13th day of Apr11 ,2007 ,and is incorporated Into and shall be deemed to amend and' supplement the Mortgage, DDOd of Trust, or Security Deed (the "Se<:urity Instrument") ofthe same date given by the undersigned C'Borrower") to seoure Borrower's Adjustable Rate Note (the"Note")toAccred1ted Home Lenders, Inc., A California Corporat1on (IILender") of the samo date and covering the property described in the Secwity Instrument and looated at: 5344 BITTERCREEK RD AFTON,' WY 83110 [Proporty Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT, THE NOTE LIMITS THE AMOUNT'BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER-MUST PAY. ADDITIONAL COVENANTS, In addition to the covenants and agreements made in the Security Instrwnent, Borrower and Lender funher covenant and agree as follows: . A. INTEREST RATE AND MONTHLY PAYMENT CHANGES Tho Noto provides for an initial interest rate of 8.750%. The Note provides for chrmges in the interest rate rmd the Monthly payments, as followa: 4. INTEREST RATE ~D MONTHLY PAYMENT CHANGES (A) Change Datel The interest rate I will pay may change on the 1 s t day of May, Z 0 1 0 and on the 1 s t day of every sixth month thereafter. Each date on which my interest rate could change is callod a "Change Date," (D) Tho index Beginning with the first Change Date, my interest rate will be based on an Index. The uIndex" is the average of interbank offered rates for six month U.S. dollllJ'todenominated dèposits in thel.ondon, m~ ('"LmOR"), as published in The Wall Streel JoW'nal, The most recent Index figure available as of the first business day of the month inunodiately preoeding the month in which the Change Date occurs is called the "CUiTcnt Index," . Iftho Index is no ionger available, the Note Holder will choose a new index that is based upon comparablo infonnation. The Note Holder will give me notice of this choice, MIN , 100176107040560848 ARMRIDR1.UFF ROWLEY Page 1 of 3 ¡,",.,.. L Loan * 0704066084 AHl mod1f1ed rann1eMae 3138 (1/01) 9LO/BVOd EV:E~ LOOl E~ ~d~ O~285~O 000B08 (C) CaleulatioD ufCbllogll5 Before each Change Date, the Note Holder will calculate my new interest rate by adding F1 ve And Three-q\.larters porçentage points (5.750%) to the Current Index. The Note Holder will then round tho result of this addition to the nearest one-eighth oCone percentage point (0.125%). Subjeot to tbeUndtlltDted in Seçtion 4(D) below. this rounded amount will be my new interest rate until the next Change Date. Tho Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Chango Date in full over the remainder of the Amortization Period (described below) at my now interest rate In substantially equat payments. The result of this calculation will be the new IUnOu.nt of my monthl)' pa)'IDenL The "Amortization Period" is the 4O-year poriod beginning one month prior to the due date of the first payment under this Note. (D) Limits ón Interest Rate Changes The interest rate I am requh'ed to pay at the fll'st Change Date will not be greater tban 10 . 250% or less than 8 . 750%, Thoreafter, my interest rate wiU never be increased or decreased OD any single Chango Dato by moro than One An dOne - h al f percentage points ( 1 . 500S) ftom the rate of intorost I have been paying for the preceding six months. My interest rate wiIl Dovor be greater than 15 . 750% or less than 8 . 750%. (E) El'feetlve Date of Cbange. My new interest rate will become effective on each Change Date. J will pay the amount of my new monthly payment beginning on the first monthly payment date after the Chango Date until the amount of my monthly payment changes again. (F) Notice of Changes Tho Note Holder will deliver or mail to me II notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. Tho notico will includo infonnation required by law to be given to me and also the title and tolophone number of a person who witl answèr any question I may have regarding the notice, B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 18 of tho Soc:ruity Instrument Is atnended to read III follows: Tra..rer of the ,Property Dr'. Blnefic:ial Intere.t in Bo~ower. ,If all or any pan of the Property or any interest in it is sold or transfem:d (or if a beneficial interest in Borrower Is sold or ttansferred and BOlTOwer is not a natural person) without Lender's prior written consent, Lender ma)', at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not bo exercised by Lender if such exercise is prohibited by applicable law. IfLènder exercises the option to require immediate payment in ftdl, L~Ddor shall gin Ðorrower notice' of acceleration. The notice shall provide a period of not lcss than 30 days from the date the notil.':e is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay tbese sums prior to the expiration of this period, Lender may Invoke any remedies pennitted by this Security Instrument without further notice or demand on Borrower. MIN I l0017610?040560848 ARloIRIDR2,UFF ROt/LEY Page 2 of 3 . Initials; 'it Loan # 0704056084 AHL modIfied Fann1eMae 3138 (1/01) 9LO/6POd Ep:E~ LOOl E~ ~d~ O~~I..:h"'~O 000B09 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in thi:fUstabIe Rate Rider. . ~~ 6'f·(lv~ ~ '1L)~iL Borrowflr Date Bo cr ' D~CI LAURA ROWLEY ~ HAN ROWLEY Borrower Date Borrower Data Borrower Dale Borrower Date Borrower Date Borrower Date MIN 1100176107040660848 ARMRIDR3. UFF ROWLEY Page 3 of 3 LOin # 0704056084 AHL modified FlnnieMle 3138 (1/01) 9LO/050d EV:E~ LOOl E~ Jd~ Ni1'\