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HomeMy WebLinkAbout930363 - - 000. /\' Return To: FHHL - POST CLOSING MAIL ROOM 1555 W WALNUT HILL LN #200 MC 6712 IRVING, TX 75038 Prepared By: FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE BANK N.A. 3505 EAST OVERLAND DRIVE MERIDIAN, ID 83642 RECEI ED 6/141 007 at 4:35 PM RE EIVING # 930363 BOO : 662 PAGE: 52 JEANN WAGNER LINCOLN OUNTY C ERK, KEMMERER, WY [Space Above This Line For Recording Data] MORTGAGE MIN 100085200612 77402 0061227740 DEFINITIONS Words used in multiple sections of this document are defined below and other ords are de ined in Sections 3, ] 1, 13, 18, 20 and 21. Certain rules regarding the usage of words used in thi document e also provided in Section ]6. (A) "Security Instrument" means this document, which is dated June 8t , 2007 together with all Riders to this document. (B) "Borrower" is DEAN A. LUCHETTA & JULIE L. LUCHETTA, Husband & Wife Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a sep ate corpora ·on that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS s the mort agee under this Security Instrument. MERS is organized and existing under the laws of Dela are, and h an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-ME S. WYOMING-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT WI . -6A(WY) (0005).02 Q n (7¡ / page~ 0115 Inì1ials:~Y /"' r-- VMP Mortgage Solutions, Inc. H MERS Form 3051 1101 I111111I111111111111111111111111111 ~ - - - Page 2 of 15 0061227740 . -6A(WV) (00051.02 @ Initials: (I) "Applicable Law" means all controlling applicable federal, state and! local sta~tes, regulations, ordinances and administrative rules and orders (that have the effect of law) ~ well as all I applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues) fees, asses~ments and other charges that are imposed on Borrower or the Property by a condominiuþI associati~n, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a tr~saction on~inated by check, draft, or similar paper instrument, which is initiated through an electronic ter inal, telep onic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial in titution to ebit or credit an account. Such term includes, but is not limited to, point-of-sale transfer, automat teller machine transactions, transfers initiated by telephone, wire transfers, and automated c1eari ghouse tr sfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award Of~amages, orf.roceeds paid by any third party (other than insurance proceeds paid under the coverages de cribed in S ction 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of 1 or any par of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omi sions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonþayment of, þr default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) prp.ncipal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.c. fection 260~ et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might b amended f om time to time, or any additional or successor legislation or regulation that governs the same s bject matte. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions tha are impos d in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "fed rally relate mortgage loan" under RESP A. D secon~Home Ride D 1-4 F ily Rider D Other( ) [specify] D Condominium Rider D Planned Unit Development Rider D Biweekly Payment Rider D Adjustable Rate Rider D Balloon Rider D VA Rider (E) "Note" means the promissory note signed by Borrower and dated June The Note states that Borrower owes Lender TWO HUNDRED SIXTY FIVE THOUSAND & 00/100 J I Dollars (U.S. $ 265,000.00 ) plus interest. Borrower has promised to pa this debt in regular Periodic Payments and to pay the debt in full not later than JULY 1, 2037 (F) "Property" means the property that is described below under the heading "Transfer pf Rights in the Property. " (G) "Loan" means the debt evidenced by the Note, plus interest, any prepay~nt charges þnd late charges due under the Note, and all sums due under this Security Instrument, plus in teres . (H) "Riders" means all Riders to this Security Instrument that are executed y Borrowe~. The following Riders are to be executed by Borrower [check box as applicable]: 000053 (D) "Lender" is FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE BANK N.A. Lender is a NATIONAL BANK organized and existing under the laws of THE UNITED STATES OF AMERICA Lender's address is 4000 HORIZON WAY, IRVING, TEXAS 75063 0930363 - - - 000054 09303l).3 (Q) "Successor in Interest of Borrower" means any party that has taken title to the Propert , whether or not that party has assumed Borrower's obligations under the Note and/or this Securit Instrument TRANSFER OF RIGHTS IN THE PROPERTY This Security 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 covenan and agree ents under this Security Instrument and the Note. For this purpose, Borrower does hereby ortgage, ant and convey to MERS (solely as nominee for Lender and Lender's successors and ass· ns) and t the successors and assigns of MERS, with power of sale, the following d scribed p perty located in the County of Lincoln [Type of Recording Jurisdiction] LOT 28 OF THE GREYS RIVER VILLAGE SECOND ADDITION ALPINE, LINCOLN COUNTY, WYOMING, ACCORDING TO THE FILED JULY 22, 1994 AS DOCUMENT NUMBER 787017, IN CLERK, LINCOLN COUNTY, WYOMING. ding Jurisdict on] HE TOWN OF NUMBER 227-B OFFICE F THE Parcel ID Number: County: 370 WOODENSPUR DRIVE ALPINE ("Property Address"): 12-3718-29-4-00-303.00 City: whic currently as the address of [Street] [City] , Wyomi g [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on th d all easements, appurtenances, and fixtures now or hereafter a part of the property. All replace itions shall also be covered by this Security Instrument. All of the foregoing is referred to in is Security nstrument as the "Property." Borrower understands and agrees that MERS holds only legal ti to the int rests granted by Borrower in this Security Instrument, but, if necessary to comply with law or cu tom, MER (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or al of those in rests, including, but not limited to, the right to foreclose and sell the Property; and to take y action re uired of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the es te hereby c nveyed and has the right to mortgage, grant and convey the Property and that the Property ·s unencum ered, except for encumbrances of record. Borrower warrants and will defend generally the ti e to the Pr perty against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for n tional use d non-uniform covenants with limited variations by jurisdiction to constitute a uniform sec ity instrum nt covering real property. Page 3 of 15 Form 3051 1/01 0061227740 . -6A(WY) (0005).02 ® Initials: ~ - - - Page4of15 . -6A(WY) (0005).02 @ Initials: , , UNIFORM COVENANTS. Borrower and Lender covenant and agree as fo ows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Ch rges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evid nced by th Note and any prepayment charges and late charges due under the Note. Borrower shall also ay funds t r Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instru ent shall made in U.S. currency. However, if any check or other instrument received by Lender as pa ment under e Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subs quent payments due under the Note and this Security Instrument be made in one or more of the following t rms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasure's check or cashier's check, provided any such check is drawn upon an institution whose deposits are i sured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location esignated i the Note or at such other location as may be designated by Lender in accordance with the no ce provisio s in Section 15. Lender may return any payment or partial payment if the payment or partial pay ents are ins fficient to bring the Loan current. Lender may accept any payment or partial payment insufficie t to bring e Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such p yment or p 'al payments in the future, but Lender is not obligated to apply such payments at the time such p yments are ccepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need n t pay inter st on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment 0 bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall eith apply suc funds or return them to Borrower. If not applied earlier, such funds will be applied to the outs ding princi balance under the Note immediately prior to foreclosure. No offset or claim which Borrow might hav now or in the future against Lender shall relieve Borrower from making payments due und the Note d this Security Instrument or performing the covenants and agreements secured by this Security nstrument. 2. Application of Payments or Proceeds. Except as otherwise described i this seCtiO~2' all payments accepted and applied by Lender shall be applied in the following order of prior ty: (a) inter st due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments s all be applied to each Periodic Payment in the order in which it became due. Any remaining am unts shall b applied first to late charges, second to any other amounts due under this Security Instrument, an then to re ce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodi Payment hich includes a sufficient amount to pay any late charge due, the payment may be applied to th delinquent ayment and the late charge. If more than one Periodic Payment is outstanding, Lender may appl any paym nt received from Borrower to the repayment of the Periodic Payments if, and to the extent that, ach payme t can be paid in full. To the extent that any excess exists after the payment is applied to the ull payment of one or more Periodic Payments, such excess may be applied to any late charges due. Vo ntary prep yments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proce ds to princi al due under the Note shall not extend or postpone the due date, or change the amount, of the Pe odic Payme ts. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Per odic Payme ts are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for pay ent of am unts due for: (a) taxes and assessments and other items which can attain priority over this S rity Instru ent as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the operty, if y; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgag Insurance remiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mor gage Insur ce premiums in accordance with the provisions of Section 10. These items are called "Escrow It ms." At ori ination or at any time during the term of the Loan, Lender may require that Community ssociation ues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assess ents shall b an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid nder this S tion. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower' obligation 0 pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay t Lender Fu ds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the ev nt of such aiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for hich payment of 093036.3 000055 --.., - - - 093.036,3 000056 Funds has been waived by Lender and, if Lender requires, shall furnish to Le der receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make su h payments and to provide receipts shall for all purposes be deemed to be a covenant and agreem nt containe in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If orrower is bligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the am unt due for Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Bo wer shall en be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the w . ver as to y or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon su h revocatio , Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this S ction 3. Lender may, at any time, collect and hold Funds in an amount (a) suffici nt to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the m imum amo nt a lender can require under RESP A. Lender shall estimate the amount of Funds due on e basis of urrent data and reasonable estimates of expenditures of future Escrow Items or otherwise in acc dance with pplicable Law. The Funds shall be held in an institution whose deposits are insured by a fe eral agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so ins ed) or in y Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later an the tim specified under RESP A. Lender shall not charge Borrower for holding and applying the F nds, annual y analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrow r interest 0 the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is ade in wri· g or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to ay Borrow r any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, tha interest sh I be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Fun s as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RES A, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortag of Funds ld in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP , and Borro er shall pay to Lender the amount necessary to make up the shortage in accordance with RE PA, but in 0 more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as define under RES A, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the ount nec sary to make up the deficiency in accordance with RESP A, but in, no more than 12 monthly pay ents. Upon payment in full of all sums secured by this Security Instrument, Le der shall p mptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, ch ges, fines, and impositions attributable to the Property which can attain priority over this Security Instr ment, lease old payments or ground rents on the Property, if any, and Community Association Dues, Fees, d Assessme ts, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manne provided in Section 3. Borrower shall promptly discharge any lien which has priority over th s Security nstrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the ien in am ner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contes the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's pinion ope ate to prevent the enforcement of the lien while those proceedings are pending, but only until su h proceedin s are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinati g the lien to this Security Instrument. If Lender determines that any part of the Property is sub ect to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice i entifying th lien. Within 10 . -6A(WY) (0005).02 @ Page 5 of 15 1/01 Initials: ~ - - - Form 3051 1/01 Page 6 of 15 . -6A(WY) (0005).02 @ days of ilie date on which iliat notice is given, Borrower shall satisfy ilie lien lor take onelor more of ilie actions set forili above in iliis Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax Iverification jmd/or reporting service used by Lender in connection wiili iliis Loan. 5. Property Insurance. Borrower shall keep ilie improvements now existi g or hereaft r erected on ilie Property insured against loss by fire, hazards included wiiliin ilie term "extend coverage," and any oilier hazards including, but not limited to, eariliquakes and floods, for which Len er requires insurance. This insurance shall be maintained in ilie amounts (including deductible levels) and for ilie pe . ds iliat Lender requires. What Lender requires pursuant to ilie preceding sentences can change uring ilie t rm of ilie Loan. The insurance carrier providing ilie insurance shall be chosen by Borrower ubject to L nder's right to disapprove Borrower's choice, which right shall not be exercised unreaso ably. Len r may require Borrower to pay, in connection wiili iliis Loan, eiilier: (a) a one-time charge £ r flood zon determination, certification and tracking services; or (b) a one-time charge for flood zone de ermination d certification services and subsequent charges each time remappings or similar changes oc ur which r asonably might affect such determination or certification. Borrower shall also be responsible or ilie pay ent of any fees imposed by ilie Federal Emergency Management Agency in connection wiili determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, L nder may btain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation purchase any particular type or amount of coverage. Therefore, such coverage shall cover Le der, but mi ht or might not protect Borrower, Borrower's equity in the Property, or the contents of ilie Prop rty, against any risk, hazard or liability and might provide greater or lesser coverage than was pre iously in ffect. Borrower acknowledges that the cost of the insurance coverage so obtained might sig ificantly ex eed ilie cost of insurance iliat Borrower could have obtained. Any amounts disbursed by Len er under ilii Section 5 shall become additional debt of Borrower secured by iliis Security Instrument. These ounts sh 1 bear interest at ilie Note rate from ilie date of disbursement and shall be payable, wiili such inte st, upon no ·ce from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be su ject to Lender's right to disapprove such policies, shall include a standard mortgage clause and shall ame Lender as mortgagee and/or as an additional loss payee. Lender shall have ilie right to old ilie poli ies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all r eipts of p. premiums and renewal notices. If Borrower obtains any form of insurance coverage, not oilie ise requir by Lender, for damage to, or destruction of, the Property, such policy shall include a stand d 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 insurance c make proof of loss if not made promptly by Borrower. Unless Lender and orrower 0 erwise agree in writing, any insurance proceeds, whether or not ilie underlying insurance was required by Lender, shall be applied to restoration or repair of ilie Property, if ilie restoration or repair s economic ly feasible and Lender's security is not lessened. During such repair and restoration period, ender shall ave ilie right to hold such insurance proceeds until Lender has had an opportunity to inspect suc Property t ensure ilie work has been completed to Lender's satisfaction, provided that such inspection s all be und taken promptly. Lender may disburse proceeds for ilie repairs and restoration in a single paym nt or in a ries of progress payments as ilie work is completed. Unless an agreement is made in writin or Applica Ie Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrow r any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, re . ed by Borr wer shall not be paid out of ilie insurance proceeds and shall be ilie sole obligation of Borrower not economically feasible or Lender's security would be lessened, ilie insuranc 000057 0930363 ~ - - - 0930363 000058 the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in ection 2. If Borrower abandons the Property, Lender may file, negotiate and settle y available insurance claim and related matters. If Borrower does not respond within 30 days to a notice fr m Lender at the insurance carrier has offerecJ to settle a claim, then Lender may negotiate and settle the cl ·m. The 30 day period will begin when the notice is given. In either event, or if Lender acquires the perty unde Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insu ance proce s in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, an (b) any oth r of Borrower's rights (other than the right to any refund of unearned premiums paid by B rrower) un er all insurance policies covering the Property, insofar as such rights are applicable to the cove age of the operty. Lender may use the insurance proceeds either to repair or restore the Property or to p y amounts npaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as B rrower's p within 60 days after the execution of this Security Instrument and shall con tin e to occup Borrower's principal residence for at least one year after the date of occupan y, unless ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unle s extenuati g circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Insp ctions. Bo ower shall not destroy, damage or impair the Property, allow the Property to deteriorate or co mit waste n the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain th Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Vnles it is dete ined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall p omptly rep . the Property if damaged to avoid further deterioration or damage. If insurance or condem ation proc eds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. nder may isburse proceeds for the repairs and restoration in a single payment or in a series of progre s paymen as the work is completed. If the insurance or condemnation proceeds are not sufficient to r pair or rest re the Property, Borrower is not relieved of Borrower's obligation for the completion of such re . or restor tion. Lender or its agent may make reasonable entries upon and inspection of the Pr perty. If it has reasonable cause, Lender may inspect the interior of the improvements on th Property. ender shall give Borrower notice at the time of or prior to such an interior inspection specifying s ch reasona Ie cause. 8. Borrower's Loan Application. Borrower shall be in default if, during e Loan ap lication process, Borrower or any persons or entities acting at the direction of Borrower or w· Borrowe 's knowledge or consent gave materially false, misleading, or inaccurate information or state ents to Len er (or failed to provide Lender with material information) in connection with the Loan. Materi representa ·ons include, but are not limited to, representations concerning Borrower's occupancy of the Pro erty as Bo ower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under his Securit Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this S urity Instru ent, (b) there is a legal proceeding that might significantly affect Lender's interest in the Pro erty and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for co emnation r forfeiture, for enforcement of a lien which may attain priority over this Security Instru ent or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pa for whatever is reasonable or appropriate to protect Lender's interest in the Property an rights un er this Security Instrument, including protecting and/or assessing the value of the Property, d securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secur by a lien which has priority over this Security Instrument; (b) appearing in court; d (c) p ying reasonable . -6A(WY) (0005).02 @ Page7of15 Initials: ~ - - - attorneys' fees to protect its interest in the Property and/or rights under this Secu .ty Instrum nt, including its secured position in a bankruptcy proceeding. Securing the Property includes, but s not limite to, entering the Property to make repairs, change locks, replace or board up doors and windo s, drain w ter from pipes, eliminate building or other code violations or dangerous conditions, and hav utilities tu ed on or off. Although Lender may take action under this Section 9, Lender does not have t do so and . s not under any duty or obligation to do so. It is agreed that Lender incurs no liability for n t taking y or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become ~dditiOnal d~t of Borrower secured by this Security Insttument. These amounts shall bear interest at the Note rate f om the date of disbursement and shall be payable, with such interest, upon notice from Le der to Borr wer requesting payment. If this Security Insttument is on a leasehold, Borrower shall comply with afl the provisíþns of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title si1WI not mer~e unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a co dition of aking the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If for any reason, the Mortgage Insurance coverage required by Lender ceases to be available fr m the mort age insurer that previously provided such insurance and Borrower was required to make sep ately desi nated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premium required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a co t substanti ly equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from alternate ortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is ot availabl , Borrower shall continue to pay to Lender the amount of the separately designated payments that ere due w en the insurance coverage ceased to be in effect. Lender will accept, use and retain these paym nts as a no -refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable notwithstan ing the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borr wer any in rest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mo tgage Insur ce coverage (in the amount and for the period that Lender requires) provided by an insurer selec ed by Lend r again becomes available, is obtained, and Lender requires separately designated payments towar the premiu s for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making e Loan an Borrower was required to make separately designated payments toward the premiums for M rtgage Ins ance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to rovide a no -refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordanc with any ritten agreement between Borrower and Lender providing for such termination or until termina on is requir d by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at e rate provi ed in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the ote) for cer "n losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to e Mortgag Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time time, and may enter into agreements with other parties that share or modify their risk, or reduc losses. The e agreements are on terms and conditions that are satisfactory to the mortgage insurer and the 0 er party (0 parties) to these agreements. These agreements may require the mortgage insurer to make payme ts using an source of funds that the mortgage insurer may have available (which may include funds obtai ed from M rtgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, ano~r insurer~y reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or i directly) ounts that derive from (or might be characterized as) a portion of Borrower's payments for Mo gage Insur ce, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If su h agreemen provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the pre iums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borro~er has ag1eed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements ill not incr ase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borro er to any r fund. Inltlals:ur..::=:... ~ . -6A(WY) (0005).02 Page 8 of 15 I '(I I Form 3051 1/01 @ (100059 0930363 ~ - 0930363 - - 0000;60 (b) Any such agreements will not affect the rights Borrower has - if any· with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any 0 her law. T ese rights may include the right to receive certain disclosures, to request and obtain ca cellation 0 the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, andlo to receive refund of any Mortgage Insurance premiums that were unearned at the time of such cance lation or te mination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscell eous Proc ds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied t restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's sec ·ty is not I sened. During such repair and restoration period, Lender shall have the right to hold such iscellaneou Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been compl ted to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay fo the repairs and restoration in a single disbursement or in a series of progress payments as the ork is com eted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on s ch Miscell eous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such iscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, th Miscellaneous Proceeds shall be applied to the sums secured by this Security Inslrument, whe er or not th n due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the orde provided for in Section 2. In the event of a total taking, deSlruction, or loss in value of the Property the Miscell eous Proceeds shall be applied to the sums secured by this Security Inslrument, whether or not then due, w th the excess, if any, paid to Borrower. In the event of a partial taking, deSlruction, or loss in value of the Prop ty in whic the fair market value of the Property immediately before the partial taking, deslruction, or loss i value is ual to or greater than the amount of the sums secured by this Security Instrument immediate y before th partial taking, deslruction, or loss in value, unless Borrower and Lender otherwise agree in wri ·ng, the sum secured by this Security Inslrument shall be reduced by the amount of the Miscellaneous Proceeds ltiplied by the following fraction: (a) the total amount of the sums secured immediately before e partial ing, deslruction, or loss in value divided by (b) the fair market value of the Property immediat ly before e partial taking, deSlruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Prop rty in whic the fair market value of the Property immediately before the partial taking, deSlruction, or I ss in value is less than the amount of the sums secured immediately before the partial taking, deslructi n, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds hall be ap ied to the sums secured by this Security Inslrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower at the Opposing Party (as defined in the next sentence) offers to make an award to settle a clai for damage, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lende is authoriz to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property r to the su secured by this Security Inslrument, whether or not then due. "Opposing Party" means the tho d party tha owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of acti n in regard 0 Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil r criminal, s begun that, in Lender's judgment, could result in forfeiture of the Property or other material i pairment of Lender's interest in the Property or rights under this Security Inslrument. Borrower can cure suc a default d, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proc eding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or ther materi impairment of Lender's interest in the Property or rights under this Security Inslrument. The pr ceeds of an award or claim for damages that are atlributable to the impairment of Lender's interest in the operty are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Propert shall be applied in the order provided for in Section 2. Initials: . -6A(WY) (0005).02 @ Page 9 Df 15 ~ 12. Borrower Not Released; Forbearance By Lender Not a Waiver Extension f the time for payment or modification of amortization of the sums secured by this Security I strument gr ted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to re1eas the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to comme ce proceed ngs against any Successor in Interest of Borrower or to refuse to extend time for payment or 0 erwise mo ·fy amortization of the sums secured by this Security Instrument by reason of any demand made by the origi al Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exer ising any ight or remedy including, without limitation, Lender's acceptance of payments from third pers ns, entities r 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-signers; Successors and Assigns Bo nd. Borrow r covenants and agrees that Borrower's obligations and liability shall be joint and several. H wever, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): ( ) is co-sign ng this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Pr perty under e terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by is Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, mo ify, forb or make any accommodations with regard to the terms of this Security Instrument or the ote withou the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borr01er who asSfes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, sh obtain all of Borrower's rights and benefits under this Security Instrument. Borrower hall not b released from Borrower's obligations and liability under this Security Instrument unless Len er agrees t such release in writing. The covenants and agreements of this Security Instrument shall bind ( cept as pr ided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services P~ormed inJonnection with Borrower's default, for the purpose of protecting Lender's interest in the Pr perty and 'ghts under this Security Instrument, including, but not limited to, attorneys' fees, property ins ection and aluation fees. In regard to any other fees, the absence of express authority in this Security Instru ent to ch ge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee Lender ma not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and tha law is fin ly interpreted so that the interest or other loan charges collected or to be collected in connecti n with the oan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount n essary to duce the charge to the permitted limit; and (b) any sums already collected from Borrower whi h exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by redu ing the prin ipal owed under the Note or by making a direct payment to Borrower. If a refund reduces pr ncipal, the eduction will be treated as a partial prepayment without any prepayment charge (whether or not a prep ment charge is provided for under the Note). Borrower's acceptance of any such refund made b direct pay ent to Borrower will constitute a waiver of any right of action Borrower might have arising out 0 such overc arge. 15. Notices. All notices given by Borrower or Lender in connection with is Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instru ent shall b deemed to have been given to Borrower when mailed by first class mail or when actually d ivered to orrower's notice address if sent by other means. Notice to anyone Borrower shall constitute n tice to all orrowers unless Applicable Law expressly requires otherwise. The notice address shall be e Proper Address unless Borrower has designated a substitute notice address by notice to Lender. Bo ower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for re orting Borr wer's change of address, then Borrower shall only report a change of address through that speci ied procedu e. There may be only one designated notice address under this Security Instrument at anyone ti e. Any noti e to Lender shall be given by delivering it or by mailing it by first class mail to Lender's addre s stated her in unless Lender has designated another address by notice to Borrower. Any notice in connection with this Se urity Instrument shall not be deemed to have been given to Lender until actually received by Le der. If any otice required by this Security Instrument is also required under Applicable Law, the Applicable Law requir ment will satisfy the corresponding requirement under this Security Instrument. - 000061 ~ - - Page 10 of 15 . -6A(WY) (0005).02 @ Initials: 0930363 - - - 0330363 000062 16. Governing Law; Severability; Rules of Construction. This Security I strument s all be governed by federal law and the law of the jurisdiction in which the Property is locate . All rights and obligations contained in this Security Instrument are subject to any requirements and lim·tations of pplicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by con ct or it mi ht be silent, but such silence shall not be construed as a prohibition against agreement by co tract. In th event that any provision or elause of this Security Instrument or the Note conflicts with Applic ble Law, su h conflict shall not affect other provisions of this Security Instrument or the Note which can be given ef ect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gen er shall m an and in elude corresponding neuter words or words of the feminine gender; (b) words in e singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion ithout any 0 ligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and 0 this Securit Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. s used in is Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, neluding, b t not limited to, those beneficial interests transferred in a bond for deed, contract for deed, install ent sales c ntract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date 0 a purchas r. If all or any part of the Property or any Interest in the Property is sold or ansferred ( r if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) ithout Lend r's prior written consent, Lender may require immediate payment in full of all sums secured y this Sec rity Instrument. However, this option shall not be exercised by Lender if such exercise is prohibit d by Appli able Law. If Lender exercises this option, Lender shall give Borrower notice of a celeration. e notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. Borrower ails to pay these sums prior to the expiration of this period, Lender may invoke any remedie permitted y this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrow r meets ce tain conditions, Borrower shall have the right to have enforcement of this Security Instrument 'scontinued t any time prior to the earliest of: (a) five days before sale of the Property pursuant to any po er of sale ontained in this Security Instrument; (b) such other period as Applicable Law might specify for e terminati n of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrume t. Those c ditions are that Borrower: (a) pays Lender all sums which then would be due under this Securi Instrumen and the Note as if no acceleration had occurred; (b) cures any default of any other coven an or agreem nts; (c) pays all expenses incurred in enforcing this Security Instrument, ineluding, but not lim ted to, reas nable attorneys' fees, property inspection and valuation fees, and other fees incurred for the p rpose of pr tecting Lender's interest in the Property and rights under this Security Instrument; and (d) take such actio as Lender may reasonably require to assure that Lender's interest in the Property and rights u der this Se ity Instrument, and Borrower's obligation to pay the sums secured by this Security Instrume t, shall con ·nue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or mor of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, b k check, tre surer's check or cashier's check, provided any such check is drawn upon an institution whose de osits are in red by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon rei statement Borrower, this Security Instrument and obligations secured hereby shall remain fully effec' e as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of accelerati n under S tion 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The ote or a par 'al interest in the Note (together with this Security Instrument) can be sold one or more times wi out prior n tice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") at collects P riodic Payments due under the Note and this Security Instrument and performs other mortga e loan ser icing obligations under the Note, this Security Instrument, and Applicable Law. There also mig t be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Lo Servicer, orrower will be given written notice of the change which will state the name and address 0 the new L an Servicer, the address to which payments should be made and any other information RESPA requires in onnection with a . -6A(WY) (0005).02 @ Page11of15 Initials: ~ - - - 000063 notice of transfer of servicing. If the Note is sold and thereafter the Loan is SerVlred by a LO] Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Bo ower will emain with the Loan Servicer or be transferred to a successor Loan Servicer and are not ass med by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any ·udicial acti n (as either an individual litigant or the member of a class) that arises from the other party's ac· ns pursuan to this Security Instrument or that alleges that the other party has breached any provision of, or y duty ow d by reason of, this Security Instrument, until such Borrower or Lender has notified the other p y (with suc notice given in compliance with the requirements of Section 15) of such alleged breach and aft: ded the oth r party hereto a reasonable period after the giving of such notice to take corrective action. If Ap licable Law provides a time period which must elapse before certain action can be taken, that time period wi! be deemed be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cur given to B rrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Se tion 18 sh 1 be deemed to satisfy the notice and opportunity to take corrective action provisions of this Sec on 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazar ous Subs substances defined as toxic or hazardous substances, pollutants, or wastes by nvironmen Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum roducts, tox c pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, d radioacti e materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the operty is I cated that relate to health, safety or environmental protection; (c) "Environmental Cleanup" i cludes any esponse action, remedial action, or removal action, as defined in Environmental Law; and (d) "Environ ntal Condition" means a condition that can cause, contribute to, or otherwise trigger an Environ ental Clean p. Borrower shall not cause or permit the presence, use, disposal, storage, r release 0 any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Pro erty. Borro er shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in vi lation of an Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the resence, us , or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. e preceding two sentences shall not apply to the presence, use, or storage on the Property of s all quanti es of Hazardous Substances that are generally recognized to be appropriate to normal residenti uses and t maintenance of the Property (including, but not limited to, hazardous substances in consumer pr ducts). Borrower shall promptly give Lender written notice of (a) any investigati n, claim, d and, lawsuit or other action by any governmental or regulatory agency or private party inv Iving the operty and any Hazardous Substance or Environmental Law of which Borrower has ctual kno ledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, ischarge, re ease or threat of release of any Hazardous Substance, and (c) any condition caused by the resence, us or release of a Hazardous Substance which adversely affects the value of the Property. If Bo wer learns, or is notified by any governmental or regulatory authority, or any private party, that any remov or other r ediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promp y take all n actions in accordance with Environmental Law. Nothing herein shall create an obligation Environmental Cleanup. Page 12 of 15 . -6A(WY) (0005).02 @ Initials: 0930363 - - - 0930363 000064 NON-UNIFORM COVENANTS. Borrower and Lender further covenant 22. Acceleration; Remedies. Lender shall give notice to Borrower prio to acceler tion following Borrower's breach of any covenant or agreement in this Security Inst ument (bu not prior to acceleration under Section 18 unless Applicable Law provides otherwise). he notice s all specify: (a) the default; (b) the action required to cure the default; (c) a date, not less t an 30 day from the date the notice is given to Borrower, by which the default must be cured; and d) that fail re to cure the default on or before the date specified in the notice may result in accelerat on of the s ms secured by this Security Instrument and sale of the Property. The notice shall furth r inform B rrower of the right to reinstate after acceleration and the right to bring a court action to a sert the no -existence of a default or any other defense of Borrower to acceleration and sale. If the efault is n t cured on or before the date specified in the notice, Lender at its option may require im ediate pa ment in full of all sums secured by this Security Instrument without further demand an may invo e the power of sale and any other remedies permitted by Applicable Law. Lender shal be entitle to collect all expenses incurred in pursuing the remedies provided in this Section 22, in luding, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of inte t to foreclo e to Borrower and to the person in possession of the Property, if different, in accord nce with plicable Law. Lender shall give notice of the sale to Borrower in the manner provided n Section 1 . Lender shall publish the notice of sale, and the Property shall be sold in the manner pre cribed by pplicable Law. Lender or its designee may purchase the Property at any sale. The proceed of the sale hall be applied in the following order: (a) to all expenses of the sale, including, but ot limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) nyexcess 0 the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrum nt, Lender hall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Bo ower a fee for releasing this Security Instrument, but only if the fee is paid to a third party r services endered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the horn stead exemption laws of Wyoming. Initials: . -6A(WY) (0005).02 ® Page130f15 ~ - Form 3051 1/01 -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower Page 14 of 15 DEAN A. LUCHETTA 9~~ - - 0061227740 .-6A(WY) (0005).02 @ -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) Witnesses: 0930363 BY SIGNING BELOW, Borrower accepts and agrees to the terms and k:ovenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. 000065 - - - .0930363 000066 ST ATE OF WYOMING, The foregoing instrument was acknowledged before me thiS(P - ð--O bbEAN A. LUCHETTA & JULIE L. LUCHETTA LINCOLN ounty ss: M C .. E· -._4-0Q y ommlSSlon xprres: ~ CHERYL A. JONES- NOTARY PUBUC . Stale of CountY of· Wyoming uncoln My Commission Expires Feb. 4, 2009 0061227740 . -6A(WY) (0005).02 @ Initials: &JL Page15 of 15 Form 3051 1/01 - - - ~¡- FH6D271 lof6 WY HELOC FHHLC 03-04 This Mortgage secures to us: (a) the repayment of the debt evidenced by the AJeement, W] interest, and all refinancings, renewals, extensions and modifications of the Agreement; (b) the payme of all other ums, with interest, advanced under paragraph 7 of this Mortgage to protect the security of this Mortgage; and (c) the erformance of your covenants and agreements under this Mortgage and the Agreement. For this purpose an in consider tion of the debt, you do hereby mortgage, grant and convey to us and our successors and assigns the prope Lincoln County, Wyoming, to wit: LOT 28 OF THE GREYS RIVER VILLAGE SECOND ADDITION ALPINE, LINCOLN COUNTY, WYOMING, ACCORDING TO THE FILED JULY 22, 1994 AS DOCUMENT NUMBER 787017, IN CLERK, LINCOLN COUNTY, WYOMING. You agree that this Mortgage shall continue to secure all sums now or hereafter a< lvanced und~r the terms of the Agreement including, without limitation, such sums that are advanced to you whethe~ or not at th~ time the sums are advanced there is any principal sum outstanding under the Agreement. The Agreement provides for the full debt, if not paid earlier, to be paid by JULY 11, 2027 Pursuant to a Home Equity Line of Credit Agreement and disclosures under the Feder¥fUth-In Leþding Act dated the same date as this Mortgage (" Agreement"), you may incur indebtedness in amounts fluc ting from ~ime to time up to the MAXIMUM PRINCIPAL SUM of THIRTY FOUR THOUSAND & 00/1 0 Doll s (U.S. $ I 34,000.00). our" refer to This mortgage is given to FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE BANK N.A. whose address is 4000 HORIZON WAY, IRVING, TEXAS 75063 In this Mortgage, the terms "you", "yours" refer to the mortgagor(s). FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE B The mortgagor is DEAN A. LUCHETTA & JULIE L. LUCHETTA, Husband & Wife June 8th, 2007 TIllS MORTGAGE is given on 061228524 WYOMING OPEN-END MORTGAGE (Securing Future Advances) ¡,00067 0930363 r - - - o~:JOa6~ 000068 Which property has the address of: 370 WOODENSPUR DRIVE, ALPINE, WYOMING 83128 "P operty Address". TOGETHER WITH all the improvements now or hereafter erected on the property, a and fixtures now or hereafter a part of the property. All replacements and additio Mortgage. All of the foregoing is referred to in this Mortgage as the "Property." all easeme ts, appurtenances, shall also e covered by this YOU COVENANT that you are lawfully seized of the estate hereby conveyed and have Property and that the Property is unencumbered, except for encumbrances of record. generally the title to the Property against all claims and demands, subject to any enc e right to g ant and convey the You warr nt and will defend rances of r cord. YOU AND WE covenant and agree as follows: 1. Payment of Principal, Interest and Other Charges. You shall pay when due the pr ncipal and· terest owing under the Agreement and all other charges due under the Agreement. 2. Payments of Taxes and Insurance. You will pay, when due, all taxes, assessmen , leasehold ayments or ground rents (if any), and hazard insurance on the Property and mortgage insurance (if any). 3. Application of Payments. Unless applicable law provides otherwise, all payments re eived by us and paragraph 1 may be applied by us first to interest and other charges payable unde the Agree remaining principal balance under the Agreement. r the Agreement ent and then to the 4. Prior Mortgages; Charges; Liens. You shall perform all of your obligations uude any mortg e, deed of trust or other security instruments with a lien which has priority over this Mortgage, including y ur covenan to make payments when due . You shall pay all taxes, assessments, charges, fines and impositions attrib ble to the operty which may attain priority over this Mortgage or any advance under this Mortgage, and leasehold p yments or ound rents, if any. Upon our request, you shall promptly furnish to us all notices of amounts to be paid der this par graph and receipts evidencing any such payments you make directly. You shall promptly discharge any lien (other than a lien disclosed to us in your app . cation or in any title report we obtained) which has priority over this Mortgage or any advance to be made under the greement 0 this Mortgage. 5. Hazard Insurance. You shall keep the Property insured against loss by fire, "extended coverage" and any other hazards, including floods or flooding, for which we shall be maintained in the amounts and for the periods that we require . You may choose to us. zards inclu ed within the term equire insur nce. This insurance ny insurer r asonably acceptable Insurance policies and renewals shall be acceptable to us and shall include a standard mo tgage claus shall promptly give us all receipts of paid premiums and renewal notices . You shall pro ptly notify any loss. We may make proof ofloss if you do not promptly do so. Insurance proceeds shall be applied to restore or repair the Property damaged, if rest ration or re air is economically feasible and our security would not be lessened. Otherwise, insurance proceeds shall b applied to secured by this Mortgage, whether or not then due, with any excess paid to you. If you abandon the Pro erty, or do ot answer within 30 days our notice to you that the insurer has offered to settle a claim, then we may collect and use the roceeds to repair or restore the Property or to pay sums secured by this Mortgage, whether or not then d e. The 30- y period will begin when notice is given. 0061228524 WY HELOC FHHLC 03-04 20fG FH~¡r - - - ClJt¡ø- FH6D273 30f6 0061228524 WY HELOC FHHLC 03-04 12. Loan Charges. If the loan secured by this Mortgage is subject to a law willch sets maximwn 1 an charges, and that law is finally interpreted so that the interest or other loan charges collected or to be col ected in co ection with the loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced by the amo tnecessary to reduce the charge to the pennitted limit; and (b) any sums already collected from you willch exceed penni ted limits w· be refunded to you. We may choose to make this refund by reducing the principal owed under the Agreem nt or by ma . g a direct payment to you. If a refund reduces principal, the reduction will be treated as a partial prepayme t without an prepayment charge under the Agreement. 11. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The ovenants an agreements of this Mortgage shall bind and benefit your successors and pennitted assigns . Your covenan and agreem nts shall be joint and several. Anyone who co-signs this Mortgage but does not execute the Agreement: (a) i co-signing ·s Mortgage omy to mortgage, grant and convey such person's interest in the Property; (b) is not personall obligated to pay the Agreement, but is obligated to pay all other sums secured by this Mortgage; and (c) agrees that w and anyon else who signs this Mortgage may agree to extend, modify, forbear or make any accommodations regardin the terms 0 this Mortgage or the Agreement without such person's consent. 10. You Are Not Released; Forbearance by Us Not a Waiver. Extension of tim~for paYmen~r modification of amortization of the sums secured by this Mortgage granted by us to any of your success rs in interes shall not operate to release your liability or the liability of your successors in interest. We shall not be re uired to co ence proceedings against any successor in interest, refuse to extend time for payment or otherwise modify amortizatio of the sums secured by this Mortgage by reason of any demand'made by you or your successors in interest. ur forbeara ce in exercising any right or remedy shall not waive or preclude the exercise of any right or remedy. 9. Condemnation. The proceeds of any award for damages, direct or conseq't'ntial, in c~nnection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of copdemnation, !are hereby assigned and shall be paid to us. 8. Inspection. We may inspect the Property at any reasonable time and upon reasonable notice. If we require mortgage insurance as a condition of making the loan secured by this Mortgage, you sh~ pay the premiwns for such insurance until such time as the requirement for the insurance terminates. 7. Protection of Our Rights in the Property; Mortgage Insurance. If you fail to perfo the cove nts and agreements contained in this Mortgage, or there is a legal proceeding that may significantly affect 0 rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce the laws or regulatio ), then we may do, and pay for, anything necessary to protect the Property's value and our rights in the Pr perty. Our ctions may include paying any sums secured by a lien willch has priority over this Mortgage or any adv ce under th Agreement or this Mortgage, appearing in court, paying reasonable attorney's fees, paying any sums will h you are re uired to pay under this Mortgage and entering on the Property to make repairs. We do not have to take an action we a e pennitted to take 'under this paragraph. Any amounts we pay under this paragraph shall become additio debts you we us and shall be secured by this Mortgage. These amounts shall bear interest from the disbursement da Agreement and shall be payable, with interest, upon our request. 6. Preservation and Maintenance of Property; Leaseholds. You shall not destroy, æge or SUbSEtiallY change the Property, allow the Property to deteriorate, or commit waste. If this Mortgage is on a lea ehold, you s all comply with the lease. If you acquire fee title to the Property, the leasehold and fee title shall not merge ess we ag ee to the merger in writing. 000069 Any application of proceeds to principal shall not require us to extend or postpone the dE date Ofm~nth1y payments. If we acquire the Property at a forced sale following your default, your right to any ins ance proc eds resulting from damage to the Property prior to the acquisition shall pass to us to the extent of the wns secure by this Mortgage immediately prior to the acquisition. 0930363 - 0930363 - 13. Notices. Unless otherwise required by law, any notice to you provided for in this Mortgage s mailed by first class mail to the Property Address or any other address you designate b notice to us required by law, any notice to us shall be given by first class mail to our address state above or designate by notice to you. - 000070 II be delivered or Unless otherwise other address we 14. Governing Law; Severability. This Mortgage shall be governed by federal law an , except as p eempted by federal law, by the law of jurisdiction in which the Property is located. In the event that any pro ision or cla e of this Mortgage or the Agreement conflicts with applicable law, such conflict shall not affect other pr visions of ·s Mortgage or the Agreement which can be given effect without the conflicting provision. To this end the p ovisions of . Mortgage and the Agreement are declared to be severable. 15. Transfer of the Property. If all or any part of the Property or any interest in it i sold or tra ferred without our prior written consent, we may, at our option, require immediate payment in full of all urns secure by this Mortgage. However, this option shall not be exercised by us if exercise is prohibited by federalla as of the da e of this Mortgage. 16. Sale of Agreement; Change of Loan Servicer. The Agreement or a partial interes in the Agree ent (together with this Mortgage) may be sold one or more times without prior notice to you. A sale ma result in a hange in the entity (known as the "Loan Servicer") that collects monthly payments due under the Agreeme t and this M rtgage. There also may be one or more changes of the Loan Servicer unrelated to the sale of the Agreement If there is change of the Loan Servicer, you will be given written notice of the change as required by applicable law. he notice w· state the name and address of the new Loan Servicer and the address to which payments should be made. The notice ill also contain any information required by applicable law. 17. Hazardous Substances. You shall not cause or permit the presence, use, dis sal, storag , or release of any Hazardous Substances on or in the Property. You shall not do, nor allow anyone e se to do, an thing affecting the Property that is in violation of any Environmental Law. The preceding two sentences s 1 not apply 0 the presence, use or storage on the Property of Hazardous Substances in quantities that are generally reco nized to be a ropriate to normal residential uses and to maintenance of the Property. You shall promptly give US written notice of any investigation, claim, demand, governmental or regulatory agency or private party involving the Property and any Ha Law of which you have actual knowledge. If you learn or are notified by any governme tor regulato removal or other remediation of any Hazardous Substance affecting the Property is nece sary, you s necessary remedial actions in accordance with Environmental Law. er action by any e or Environmental authority, that any promptly take all As used in this Mortgage, "Hazardous Substances" are those substances defined as t xic or haza dous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable r toxic petr eum products, toxic pesticides and herbicides , volatile solvents, materials containing asbestos or formaldehy e, and radi active materials. As used in this Mortgage, "Environmental Law" means federal laws and laws of the j ·sdiction were the Property is located that relate to health, safety or environmental protection. 18. Acceleration; Remedies. You will be in default if (1) any payment required by e Agreeme t is not made when it is due; (2) we discover that you have committed fraud or made a material misre esentation; or (3) you take any action or fail to take any action that adversely affects our security for the Agree ent or any ight we have in the Property. If a default occurs, we will give you notice specifying: (a) the default; (b the action equired to cure the default; (c) a date not less than 30 days from the date the notice is given to you, by hich the de ult must be cured; and (d) that failure to cure the default on or before the date specified in the notice ay result i acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of e Proper . The notice shall further inform you of any right to reinstate after acceleration and the right to asse t in any for closure proceeding the non-existence of a default or any other defense you have to acceleration and I reclosure. f the default is not cured on or before the date specified in the notice, we at our option may require i mediate p yment in full of all sums secured by this Mortgage without further demand and may foreclose this ortgage by ower of sale. 0061228524 WY HELOC FHHLC 03-04 40f6 ~ Fi;J? - - - ~j--- 50f6 0061228524 WY HELOC FHHLC 03-04 I(We) and Lender request the holder of any mortgage, deed of trust, or other encumbrEe with a ~en which has priority over this Security Instrument to give notice to Lender, at Lender's address set forth on pag one of this Security Instrument, of any default under the superior encumbrance and of any sale or other forecl sure action. Request for Notice of Default and Foreclosure Under Superior Mortgages or Deeds of Trust d by virtue of the may exercise all of 21. Waiver of Homestead Exemption. You are hereby releasing and waiving all ri homestead exemption laws of the State of Wyoming in the Property . Your waiver m our rights under this Security Instrument. o Other(s) (specify) o PI, 01-4 Family Rider o Condominium Rider 20. Riders to this Mortgage. If one or more riders are executed by you and recorded tþgether with this Mortgage, the covenants and agreements of each such rider shall be incorporated into and shall amend aþd supplemebt the covenants and agreements of this Mortgage as if the rider(s) were part of this Mortgage. 19. Satisfaction. Upon your request and payment of all sums secured by this Mortg4ge, we shallj cause the entry of satisfaction to be made upon the records of this Mortgage. You shall pay all costs and fees for ente~ing the satisfaction upon the records of this Mortgage. If we invoke the POWER OF SALE, we will give notice of intent to foreclose to you on in possession of the Property, if different, in accordance with applicable law. We will give notice ou in the manner provided in paragraph 13. We will publish the notice of sale, and the Proper will be s d in the manner prescribed by applicable law. We or our designee may purchase the Property at an sale. The p oceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, ut not limi ed to, reasonable attorneys' fees; (b) to all sums secured by this Mortgage; and (c) any excess to the pe son or pers ns legally entitled to it. 000071 09:I0363 r-- OSJ~ - - 000072 BY SIGNING BELOW, you accept and agree to the terms and covenants contained in this Mortga e and any rider(s) executed by you and recorded with it. Born SPOUSES MUST ~~~ DEAN A. LUCHETTA , Mortgagor . Mortgagor . Mortgagor STATE OF WYOMING, LINCOLN County ss: The foregoing instrument was acknowledged before me this ~ day of ~ by DEAN A. LUCHETTA &: JULIE L. LUCHETTA ,800:+ . WITNESS my hand and official seal. My Commission Expires: a. ..."'-\-0,\ CHERYL A. JONES - NOTARY PUBUC County Of..t& Stale of UncoIn . Wyoming My Commission Expires Feb. 4, 2009 This Instrument Was Prepared By: FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE BANK N.A. 3505 EAST OVERLAND DRIVE MERIDIAN, ID 83642 After Recording Please Return To: FHHL - POST CLOSING MAIL ROOM 1555 W WALNUT HILL LN #200 MC 6712 IRVING, TX 75038 0061228524 WY HELOC FHHLC 03-04 60f6 FH6D276 - - - FH6D444 HELOC RIDER (05-06) Date Date "~07 ~~~ ~-&-o7 DEAN A. LUCHETTA Date RECEIPT ACKNOWLEDGED: The escrow of taxes and insurance required in of your DEED OF TRUST/MORTG GE/SECU TY DEED to FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE B N.A. is hereby waived and you are notified that you are not required to deposit with FIRST HOR ZON HO LOANS, A DIVISION OF FIRST TENNESSEE BANK N. A. any of the amounts set forth in sai paragraph. This waiver does not, in any way release you from your obligation to make escrow pay ents of taxe and insurance to the holder of any prior mortgage, nor does it relieve you of your obligation to keep axes and in urance premiums current with respect to the mortgaged property. 6/8/2007 Date: RIDER TO THE DEED OF TRUST / MORTGAGE / ~ECURItY DEED 00161228524 000073 0330363 r