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Home My WebLink About930557 L\J / r: \ LV) \) "0 ¡j ¡~! ' Aller Recording Return To: COUNTRYWIDE HOME LOANS, INC, MS'SV-79 DOCUMENT PROCESSING P,O.,Box 10423 Van NUYI, CA 91410-0423 P.n:parcd By: VIRIDIANA MEDINA 000891. RECEIVED 6120/2007 at 4:49 PM RECEIVING # 930557 BOOK: 662 PAGE: 891 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [spa.... Ah..,. nlo LIM 'or RKWðJacDaIllJ NTL1326 [Escrow/Cla8inq 'J 00017037222106007 IDoa ID 'I MORTGAGE ~1000157-000B242039-5 DBPINITiONS Words used in multiple secdons of this document 8tD ,dof'med be]ow and olber wonk II1'II defined in Sections :3, 11, 13, 18, 20 and 21. Certain roles tegarding the usage of words used in tIiI. document are also provided in SeClion 16, (A) "Security IIIIIlrmneDt" mew this docwnont, which is dated with all Riders 10 thi. documenL (B) "Borrower" is , JOHN V CURRY' In, &4 nd 1i.st,,. c. Cv";"ry Jt1NE 15, 2007 fJ L '8t- , together Borrower is the mortgagor under this Seourity InSllUDJonL (C) "MERS" is Mortgage mectronio Registration Sy.tOms, Jnc. MaRS Is a separate c:orpotation that is acting solely as II nomiaoe for Lender and Lender's succeaso.ra and usigns. .MERS II o.ø morlgag.. UDder thJø Security IlløtrumenL MBRS is or,mized IIJld existing undet the laws of Delaware, and hu an address and tclephDße number olP.a, Box 2026, Flint, Ml48501.2026, tol. (888) 679.MB1U. CD) ''LeucIer'' Is Countrywide Home Loans, Inc, dba America's Wholesale Lender Lendor' I. a CORPORATION organized and exiatin, under the laws of NEW YORK Lender's address is 4500 Park Gra~ada MSN" SVD~314, Calabaaaø, CA 91302:-1613 (E) t'Nole" means the promissory no,to signod by Boaower and dated' JUNE 15, 2007· Noto states thst B01'tOWèr owes'I.endèr FOUR HUNDRED SmVENTEmN THOUSAND and 00/100 . . Tho Dollars (U.S. $ 41 7 , 000 . 00 ) plu. interest. Borrower has promised to pay this debt in regular Pedod!c Payments and to pay the debt In tuU notJatetthan JULY 01, 2037 (F) "Property" means the property that is described below under the heading "Transfer of Right. in the Propctty. " WYOIIIINCJ.5Ingl. Famlly.Flnnh! MIlelFRI..dl. M8a UNIFORIIINBTRUMENT WITH MaRS PIIgIII af" flit -IIA(WV) (0005) CHL (DIIOa)(d) VMP MotIgage Solutio.... lno. (soo¡ae'.72t' Fgrm 30., 1/01 CONVNA . . 2 3 8 81' -- . 1 703 7 2 2 2 1 0 000 0 2 0 0 8 A ,",UII 10 tUUI I.QO ruut/ UJt o.~},30.557 000892 DOC IC,': 00017037222106007 (G) "LoåD" means tho debt evidenced by the Note, plus interest, any J'lCPl)'Dlent charges and late chnrges duo under tho Note, and all Ø1lDI8 dllC under this Security Instrument; plus inleresl. (8) "JUde..." means all Riders to tbis Security Inattument tbAt are cxeoutcd by Bwower. The following Riders are to be execuled by BOl'I'OWer [check box 81 applioable): ŒJ Adjustable Rate Rider § Condominium IUdIII' ~second Home RIder o Balloon Rider Planned Unit Development Rider 1-4 Fami1y Rider o VA Rider Biweekly Payment Rider Otber(a)(sPCc1fyJ (J) "AppJ1cabJe Law" D1C1tIl8 all controlling applicable federal, state ønd local statutes, reguJalions, ordJnanoes and adminløU'ativo rules and orders (that have the effect of law) 88 well as all applicable final, non-appcaIabJo jUdicial opinions. (J) "Community AaodalloD Dues, Fees, and AMeam_" meltll8 all due., foca, assOBsmenlB and other chergea thaI aro imposed on Borrower Or the Property by a eondominium aSsociation, homeowners association ' or similar O!JI'IIIIÎzation. (K) '~nJe Funds Trau.rer" moans any Iranafet ot funds, other tIuIn a Il1U1sactlon originated by chock, draft. or similar paper instrument, which 18 initiated through an cJceltonic terminal, telephonic Instrument, computer, or magnetic tape so as to order, in8IrDct, Or IUthOrize a fmancial instImtlon to debit or credit an account Such tenD includes, but is not limited to, polnt-of-sale transfers, automated teller machine It8nsactiOIl8, tranBfm Initialed by telephone, wire tranBtCll!, and automated c:Jearingbauae Itanafcrs, (L) "Escrow Items" meanl thmre Itcmm thaI are delCribcd in Section :3, (M) "MJ.eeDaneoas Proeeedll" means any oomþCllAtion, settlement, awerd of demages, or plOCCcdø paid by any third party (other than Insurance proçccds paid unde.r the co'Verages described in Scction 5) for; (i) damage la, or destruction of, the Property: (ü) cOndemnation or other tåklog of an or any part of the Property: (Iii) conveyance in lieu of condemnation; or (Iv) miørcprcscntatlOns at, Ot omissions as to, the value and/or condition of the Property, ' (N) "Motte.Je 1JIsuranc:e" IIJC8III insurance protecting Lender against the nonpayment of, or def8U.It on, the Loan, (0) "Perlodfc Payment" moans the regularly scheduled amouitt due,for (I) prlncJpal and Intcrelt UDder the Note, plus (il) any amounts under Sectioo 3 ot this Security Instrument , (p) "RESPA" means the Real Estale Settlement Procedure. Act (12 U.S.C. Section 2601 et seq,) and JIB implemonting regulation, Regulation X (24 C.F.R. Pert 3500), 88 they might be IIIDCDdcd from time 10 time, or any additional or IlUcceasor legislation or tÒgulation that aove.rns the same subject matter, As used in this Security InøtrumCflI, "RBSPA" refers to all requirements 8J1d reatrictlona 'that are imposed In regild to a "fcderaI.ly related mortgage loan" even it the Loan does not qualify as a "fede.raJJy related mOltgaae 101D" underRBSPA. ' (0) "811c,*,or In Int4!l'elt otBorrower" means any party that bas. taken title 10 the Property, whether or not that party h81 assumed Borrower's obJlptions under the Note and/or this Security Instrument. TRANSFER OP RIGHTS IN TIm PROPBRTY This Security Instnlmcnt .ecures to Lender: (i) the repayment of the Loan, and aU renewals, Q:tensions end mod1t1calions of the Note; and (II) the pcrfonnanoe of Bmrowcr's covenants and agreements under this scWrity .Inall\UDcnt and the Note, FOr thi. pwposc, Bmrowcr daM hereby mort&8&C, grant end convey to MBRS (solely as nominoo for Lender and Lender'. successors and assIþs) and to the successors and assIans otMBRS, with power of saJe, the following described property located in the COUN7Y ot LINCOLN ¡Type atR«œdlng urildJllllon AN~ atboanHn. urJadctlonl UNIT ON~(l, ~ VI~W VILLAS CONDOMINIUH~DE~TféAL WITH LOT 94 ALPINE VILLAGi SUBDIVISION NUMBER 1, PLAT ~ ~NQED -11TH FILING, RECORDED MAY 2, 2007 DOCUMENT NUMBER 929947, IN THE OFFICE OF THE CLERK, LINCOLN COUNTY, WYOMING. PARCEL NOI 12-371e-19-2-03~007.00 Parcel m Number: 1237191920300700 which currently hu the addtcss ot ~4.4 AIRPORT ROAD 11, ALPINE [S!œcI/ClIYI Wyoming B31.~B ("Property Address"): I2Ip Cadol GIlt -&A(WY) '(DOllS) CHI,. (Ø8IO&) PIe2a111 Fonn 3051 1/01 0-9,10557 DOC IÞ 'I 00017037222106007 TOOBTHBR WITH aU the improvements now or hcroafrct orocted on the ptoperty, and all 'easements, appurtenances, and fixhU'C8 now or hereaftet a part of the property, All rcplacemcnll and addilions Ihall allo be covered by' thi8 Security Instrllment. All of tho forogoing is retemd to In this Securlty Il\strumcnt 88 the "Property." Bol'tOwer underatanda and &greeII that MBRS bold. only legal tltlo to the intetests granted by Borrowlll' In this Seaurity Instrument, but, it necessary to compJy wIth law or cuatom, MBRS (as nominee fOr Løndor and Lender's aucCOUOtS and wigns) has the ri8l\t: to exelCJse any or aU of thole Intlll'CBtll, including, but not Umited to, the right to, foreclose 8IId sell the Property; and to take øny øctlon rcquJred of Lønder IncJultin" but not limited to, releasing and canceling this 8c:çurity InstrumcJlL ' BORROWBR COVENANTS that Borrower JJ lawfuJJy seised of tho CItato hereby conveyed and has the right to mortga¡e, grant and convoy the 'Property and that !be Propony Is unencumbered, except tor encumbrances ot record. Borrower warran.. and wJII defend gcneraJIy the title to tho Property againJt aD claim& and demands, mbjoot to any enClUJlbranoos of reoord. THIS SECURITY INSTRUMBNT oombJneø lIDiform covcnanQ tor national \l8e and non-uniform covenants with limited variations bY jurlsdlotion to oonstitute ~ unlfonn socurlty inatrument covaring real property. UNIFORM COVENAm'S. BOI'tOwer and Lender covenant and agreo as foJlowsr 1. Payment 01 PriDcipIl\ Interl!llt, EIIcrow Items, PrepaymelÚ Cblrgeø, Ind LIte Chlrgu. Borrowlll' shall pay when due the prinoipal of, and intorcst on, the debt evidenced by the Noto and any prepayment chargcs and Jato charges due undet the Note. Borrow!2' ahaJ1 also pay funds tot BsCtOw ltem8 pursuant to Section 3, Payments due under the NOIll and this Security Instrument shaU be made in U.S. amrancy. Howevet, if any check or other instrument received by Loudar II payment undar the Note or this Secmrlty , Instrumant is returned to Lender unpaid, Lendar may require that 'any or aU subsequent payments due under !be Note and ibis Security Instrument be made in ono or more of the toUowing fonns, as selected by Lender: (å) cash:' (b) money order: (c) certified Check, bank Check, ttCBSuret's check or caab.ier's oheck, provided any II\ICh cback II w.wn upon an institution whale depollls an: Iniurcd by It Cedaral a¡cncy, InltrumentaJlty, or entity; Or (d) BIeçtronio Ponds Transfer. ' , Payments arc deemed rccei~ by Lønder when received at tho looation designated in the Note or at mch othet locadon as may be designated by Lender in accotdance wIth the notice provisions in Section 15. Londet may return any payment or partial paymmn if the payment or partial payments arc inauft1c1ent 10 hrinS the Loan C\U!'CIIt. Lender may acoept any 'payment or partial payment JnaufiicJcnt to bring lIle Laøn cuncnt, without waivor of any rights hereunder or prejudloe to its rights to zefuse SUOh payment or partial payments in the future, but Louder J8 not obligated to apply such pl)'dICnlS at the time such payments lite accepted, If each Periodic Payment Is applied as of lIB Ichedulcd due date, then Lender need not pay Intareat on unapplied funds, LMdor may hold such unapplied funds IIDtll Borrower makes paymcnt to bring the Loan current. If ~onowor does not do so within a loaøonabJo period ot time, Lendar shall either apply suçh funds or rctum them to BOl'tOwer. Ifnot applied earlier, such funda will be applied to tho outstanding princJpal balanoo under the Note immcdJatcJy prior to foreclosure. No offllct or claim which Bol'tOwer might bave now or in tho tuttuc against Lender shaD relievo Borrower from making payrDCllts due under the Note and tIùø SlICUrlty Instrument or pcrfmming the COvenlllts and egteements secured by this Security Instrument, 2. AppHcllIon orPa)'meats or PrOcoedI. Ikcept as otherwise dOBOribed in this Seeûon 2, all payments accepted ønd appiicd by I..cndCÌ' shaD be applied in the foUowing order of priority:' (a) interest due undet the Notej (b) principal duo onder tho Note; (e) amounts due onderScction 3. Such payments shall be appllèd to each Periodic Payment in the order In which It became due. Ariy romaining amounts shaD be applied first to Jate charges, second to any other amounts due UDder this Security Instrument, and then to reduce the principal balance of the Note. ' , If Lender receives a payment from Borrower for a delinquent periodio Payment which includes a suttlclcnt amown to pay any lato charge duo, !be pl!}'mllllt may be applied to the delinquent payment and the Jate charge, If moro than one Periodic Payment is outstanding, Lender may apply any payment received from Bouowor to the repayment of the Periodic Payments IC, and to the extent that, eacb paYment can 1io paid In tun. To the extent that any cxccis Will after the payment is appJled to the full payment of one or more Petiodlc Pa)"llleßts, sucb ~CC88 may be eppJicd to any late cbarges due. Voluntary preplI)'mcnts shall be applled first to any prepayment charges and thon as described in !bo Note, ' Any application of Pll)'lllcnts, inauœnce proceeds.' ot Miscellaneous PIOCCcd8 to prinoipal dÙe undlll' the Noto shall not extend or postpone the due date, or change the amo1Dlt, of the Periodlc Payments, 3. FuDdø lor EIIc:row Itemø. Borrower shall pay to Lendet on the day Periodic Payments arc due lIDdlll' the Note, undl the Nate Is paid In foU, a sum (the "Ptmda") to plOvidc for payment of amounts dUll Cor. (a) rues and lØ8essmentl and other itemll which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) lcaloho1d PQyments or ground rcnb on the Property, if anyj (c) pmniums for any and aD Insurance requjrcd by Lender undor Section 5; and (d) Mortgage Inaurancc premiums, it any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provlalonø of Section 10. These ItcmI are oalled "Bscrow Items." At origination ot at any time during the term of the Loan, Lcndlll' may require that COmn1\1llity Association Ducs, Pees, and Asscs8mcnts. if any, be ClcroWed by BmrowlII', and sucb dues, fees and IØ8CSlllTlCllts shaD be an Bscrow Item. Bouow01' shall promptly fumiah to Louder aU noticcl of IIDlO!U1tå to be paid \1IIdet this Seotion. Bouowar shall pay Lender tho Funcla fot Bscrow Items unlesl Lender waiVCl BOJrOwot's obligation to pay the Funds for any or aU Bacrow Items. Lender may waive Borrower's obligation to pay to Lender Punda for any ot aU Bscrow 411&.øA(WY) (DOO!í) CHL (aliaS) PIIge30111 , Farm 10111 1101 00Q893 Jun III LUUI 1:411 I'UU4/U,L O~'K]05S7 DOC ID ,: 00017037222106007 Items at my time. Any sucb waiver may only be in writing. In Ibo event of such waiver, Borrower shall pay directly, when and where payable, tho amounts due for any Bøcrow Items tot which payment of Fundø lilts been waived by Lender and, if Lender requires, shaD 1'Umish 10 Lender receipts evidencing wch payment within such time period 88 Lender may require. BOlTOweis obligation to make wch payments and to provide receipts shall for all putpOSe8 be' deemed to be a 'COVCllllnt and agreement contained in this Security InsllUment, as the phra..e ·covenant and agreement" Is used in Section 9, If Borrower is obligated to pay Bscrow IICm8 directly, put8Uant to a waiver, and BorroWGl' fails to pay the amount due for an Escrow Item, Lender may cxercJse its tights under SCQtion 9 and pay such amount and BOllOwer shall then be obJigalCd under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or aU Bøcrow Items at any time by a notice given in accordance with Section IS and, upon such revocation, Borrower shall pay to Lender all Funds, and In wch amounts, that are then requireil under this Section 3, Lender may, at any time, coUect and hold Funds in an amonot (a) sufficient to pennit Lcndoi to apply !he Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can rcqnite under RBSPA. Lender shall cstimate tho amount of Funds due on the bøøls of cw:rent data and reasonablo estimates of expenditures of future Escrow Items or otherwise in accordance witb Applicable Law. The Funds shaU be held In an institution whose depoail8 arc insured by a federal agency, Insttumentality, or entity (including Lender, if Lender is an Institution whose deposit/¡ ørc so insured) or in any Fedora! Homo Loan Bank. Lender shaD apply the Funds to pay the Bscrow lIems no later than tho thne spocified under RBSPA, Lender shall not charge B01rOwer Cor holding and applyina tho Funds, annuall1 analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Bonower interest on the Ponds and Applicable Law pcnn!1II Lender II) make such a cbàr¡e. Unless an agreement is made in writing or Applicable Law requires IntcrcBt to be paid on !he Funds, Lender shall not be required 10 pay BOllOwer any intorest or earnings on the Funds, Borrower and Lender can agree in ,writing, however, tIuu intercllt shaU be paid on the Funds. Lender shan give to BolrOwcr, without charge, an annual accounting' of the Funds as required by RBSPA. It there Is a surplus ofPonda held in escrow, as dofincd under RESP^, Lender shall account to Borrower for the CXCCIIS funds in accordance with RBSPA. If there is a shortage of Ponds beld in escrow, øø defined WIder RESPA, Lender sha11 nolity Borrower as required by RBSPA, and BDlIowcr sball pay to Lender the amonot necessary to maJœ up the soortaic In IIccordance with RBSPA, but in no more than 12 monthly payments, If there is 1 deficicnQy oC J:lunds beld in cscrow, as defined under RBSPA, Lender ahall notify BOllOwer as required by RBSPA, and BOlTOwer shaIJ pay to Lender the amoWlt nccc8liBry to make up the deficiency In accordance with RBSPA, but in no more than 12 monthly payments, Upon payment in tuI1 of all BUmS secured by thJs Security Instrument, Lender shaD promptly refund to BOllOwer any Funds held by Lender. 4. Charges; Lteas, BOlTOwer shall pay al1lUCs, assessments, charges, (lOCI, and impositions attributable to the Property which CIII attain priOrity Over tlús Security Instrument, leasehold payments or groWld rents on the PrDperty, if any, and CollllJWJJity ARsociadon Dues, Pees, and AuessmenlB, if any. To the extent that these Items ørc Bscrow Items, Borrower shall pay them in the manner provided In Scotion 3. BOll'OWCl shall promptly discharge any lien which has priority over this Security Instn.uncnt unless Boaower: (I) IIgteCS in WtÎling to the payment of the obligation secured by the lien in a marmOt acceptable to Lender, but Only 80 long aa Borrower is petfonnlng such asrecment: (b) contests the lien In good fai!h by, or defends against enforcement of the 1Icm.1n, legal proceedings which in Lender's opinion operate to prevent the entorcomont of tho Hen while thoso proceedings ~ pending, but only until such proceedings are concluded; or (c) securea from the holder of the lien an e,greement satisfactory to Lender subordJnating the lion to this Sccurll,y Instrument. If Lender detcnnlnes that any part of the Property is subject to a lien which can atlain pdority over this Scèurity Instrumcn~ LCDdcr may give Bouowcr a notice Jdentifying the 1Ian. WJthin 10 days of the date on whicb that notice Is given; Borrower sha11 satisty tho lion or take one or more of the actions set forth above in this Section 4. Lender may requilè BotrOwer to pay a one-time charge tor a real estate tax verlfication and/or reporting service used by Lender in connection with thJø Loan. 5. Property lllsuranee. Borrower sha11 keep the Improvements now oxlstina or /1crcaftcr ercctod on the Property insuœd against Iou by fire, høzards Included within the telm "extended COVet8ac," and any other hazards including, bUt not limited to, earthqualœs and floods, for whlCb Lender requires Ùlsurance. This insurance shall be møintalned in the amounts (includln,'dcductibJe Jevels) and tor the periods that Lender tOq\Ùrcs. What Lender requires JllUJUJlDt to the preceding senlenceø can change during the tonn of the Loan. The insurance canier pttWlding the in81lt1lnce .haU be chosco by BOllOwer wbjcct to Lender's right 10 diBapprovc Borrower's choice, which right shall not be exercised unreasonably. Lender may require BOlI'Owcr to pay, in CDMcotlon with this Loan, either: (a) . one-time charge for OODd zone determination, certification and tracldna setYicoø: or (b) a one-dme charge Cor flood zone detcnnination and ccrtItlcation servIces and subsequent charpa each lime remapplngs or similar chanacs occur wbioh reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees Imposed by the FedetaJ Bmcrgency Management Agency in connection with the revIew of any flood zone determination resulting from an objection by BonowCt. It Borrower falls to maintain any of the coveragcs described above, Lender may obtain insurance CDveraao, at Lender'. option and Borrower's expense, Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, SIIcb coverage shall cover Lender, but might or might not protect Borrower, Bonower's equity in the Propeny, or the contents of the Propony, apinst any' risk, høzard <lit -6A(W'I) (0005) CHI. (08ID5 Pegs 4 01 11 Form 30111 1/01 000894 O~J30557 DOC ID t: 00017037222106007 or liability and might proville greater or lesser COvCl'8gc than W811 previously In effect Borrower acknowlcdgel tbat the cost of the inmrance coVCt8&e 80 obtained mlgbt sigl!ifioantly oxoecd the cost of 1n8llt8llCO ,!bat BOD'Ower oouJd have obtained. Arty mnounta disbursed by Lender under this Section S shall become additional debt of Borrower secured by this Security IÌl8lrument 'These amounts shall bear intelest at tbe Nóte tlte from the dato ot disbursement and shill) be payable, wiih suoh li1torCllt, upon notice from Lender to Bonower requesting payment AU ÎnIIItance policies required by Lender and renewals ot such poJicies shall be subjeot 10 Lender's rigbt to diaapprova auoh polioicø, shall ineJudo a standard mortpge olause, and shall name LCndcr as mongagco and/or 811 an additional 1088 payee. Lender shall bave the right to hold die policies and renewal certificates. If Lander rcquirolJ, Borrower shill1 promptly Cive 10 Lander all receipts of paid premiums and renewal notices. If Borrower obtains any fann of 1n8m'al1ce CDVCnIBe, not otherwise rcqnircd by Lender. tor damage 10. or deslrucdon of. the Propcrf;y I such ponoy øhall Inolude a standatd' mortgage olause and shaD IIIUI10 Landèr as mortgagee and/or 88 an additional loss payee, In the event of lOIS, Borrower øball give prompt notice to the inSUtance carrier and Lender. Lender may make proof of l08S if not made promptly by Borrower. UntC811 Lender and B~wer otherwise ~e In writin¡, any Inmrance proceeds, wbether or not the UlldedyinglnaUl'BllCC W88 required by Lender, aball be applied to testOtation or repair of the Property, ü the rcaloration or repair ia economically feasible and Lender's øecurlty Is not lessened. During IUQb repair and tOBlotIIdon pðtiod, Lender shall have the tight 10 hold IIOcb Inmrancc proceeds \BItil Lender has had an Dppotllmil)' to inspect such Property 10 ensure the work bas boon comptetod to Lender's satisfaclion, provided that sucb Jnapection shall be undertaken promptly. Lander may disburse proceeds for the repairs and 1'Cstomtion in " rdng1e payment or in " lieries of progress p"ymenœ 8li tlie work Is completed. Un10ss an agreement is made In writing or Applicable Law J'OqUÌtOS interC8t 10 be paid on such insurance pmceeds, 'Lender shall not be requited 10 pay Borrower any Inte:est or earnings on IIOch pl'OOCCds. Feu for public adjustcmJ, or other third parties. retained by BOlrÒwer shllll not be paid out of the In~ procccdø and ahall be the aole obligation of Borrower. If thll restoration or repair Is not economically fea8ible or Lender's security would bIIleasenecl. the fusutanoe prooeeds sha11 be applied 10 the 110mB secured by this Security Inlitrument, whether Or not then due, with the excess, if any, paid to BOD'Ower, Such insurance prOceed. shell be appned in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and aettle any avaiJable insuranoe claim and related mattera. If Borrower'does not respond within 30 days 10 a notice from Lender that the inBuranco cattier has oftetOd 10 sertle a claim, then Lender nIay ncgot1atc and .ettle the claim. 'Ibll 30-day pc:dod will begin when thll notice Is given. In either event, or it Lender acquires the Propotty under Section 22 or olherwlse, Borrower bereby lIIBigna 10 Lender (a) Borrower'i rights to any Insuranoe proceeds in an amount nollO exceed the amounts unpaid \BIder the NolO orlhls Sccurlty Inlitmmcnt, and (b) any other of Borrower's righl8 (other tban the rlgbt to any re!ùnd of \BIeamed promiumø paid by BOD'Ower) under aD insunmoe policies covering the Property, Insofar lIS sucb rights are applicable to die covcmgc of die Property, Lender may use tbo insurance proccods either to repair or restore the Property or to pay amounlS unpaid under tho NolO or this Security Instroment, whether or not then due. 6. Occupancy. Borrower ahaD oooupy, eølablløh, and 'q0 the Property 88 Borrower's principal residence within 60 days after the execu1ion or tbJa Security Instrument' and shal' continue to occupy the Property l1li Borrower's priricipal t08idcnce tor at least one year after the date or ODØ1Iplll1oy, unless Lender otherwise agrees In writing, wblob consent shall nOI be UIU'CIIIIOIIably withheld, or unlCIIS extenuating clrcwnatances exist which øre bayond Borrower's oontrol, , 7. Pnsenatioß, Maintenaace aDd Proœet1OD of the Property; lnapectiOllS, Borrower shalt not deslrDy, damage or impair the Property, allow the Property 10 deteriorate or commit waste on the Property. Wbether or 1101 B O1'fOwer is roø.iding in the Property, Bo.nower .ha11 maintain the Property In order to prevent dill Property from deteriotath1g or docteasing In value due to its eonditlon: Unless It Is doletlnincd pursuant to Section S dlat repair or l'CIilOratlon Is not economically tc:as1b1o, Borrower shall promptly repair the PtOpc11Y if damaged 10 avoid fürtber' deterioration or damaae. If Insurance or condemnation prooeeds are paid in connection with damage 10, or the taking ot, the Property, Borrower shaD be tOBpooaible for repairing or reslOting the Property only it Lender has released proceeds for such purposes. Lender may dI.burse proceeds for the repairs and reslOration In 'a singJcI payment or in a series of Props payments as tho work is compJotod. If the Insurance or condemnation proceeds are not sufficient 10 repair or restore the Property. Borrower Is not relieved of Borrower's obligation ror die cOmpletion ot suoh repair or rastoraÛon. Lender or Its agent may makc reasonable entriOll upOn and Inspections of the Property, If It hllll reasonable CIIU80. Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the ûme of or prior to suoh an Interior inspection lI])CoJtylng such reasonable cause. 8. BortOW'et's Loan AppUeation. Borrower liball bo In default if, during tho Loan application process, Borrower or any persona or entitiOl acling at the dlreotion of Borrower or wIth BolI'Ower's knowledge or oonsent gave matorially ragC, misleading, or il\lllCW'IIte Infonnation or stalCmenlB to Lender (or faUed to provide Lender with materilll information) in cOllJlcctlon With the Loan. Material representations include. but are not 1bnitod to. repreaentatlona conœmiDg BolrÒws occupancy of die Property 8S BOlrower's principal residence. a¡ .8A(WY) (OOOS) OHL (08105) P_IiCII,., Farm 30111 1/01 000895 Jun lH lUU( {:4H I'UUH/UJl I O~J305~~7 DOC ID .: 00017037222106007 !I. Protection or Lender's Interest in tho Property aDd Righll Under tIdI Security Jnstrument. If (a) Bonowcr fails to pøtform the COvellants and agrCcmcnl8 contained in this Security In&ttumen~ (b) there i. a logal proceeding that might slgnif¡çantly attoct Løndet's interest in the Property and/or rights under this Security Instrument (such IS a proceeding In bankruplCY, probate, for condenmaû.on or forfeiturc, for enforcement of a lien which may attain priority over thia Security Inltrumcnt or to enforce laws or regulatlODll),' or (0) Bonowcr has abandoned the Property, them Lender may do and pay tor whatever is tcaIOnab1c or appropriato to protect Lender's Interest In the Property and rights 1UIdcr dûs Sowrity Instrument, Including protecting and/or 88sesaing the value of the Property, and securlng and/or repairing the Property, Lender's actions can include, but arc not Jimited to: (a) paying any sums sccorcd by a lien which has priority over Ibis Security InIItrument; (b) a"eariDg in court; and (0) paying l'euonable attorneys' fees 10 pmlcat lis intemn In die Propeny and/or rigbts under this Security In8trumcnt, inoJuding JIB secured posilion in a banlauplCY proceeding. Securing the Property includes, but Is not Jimited to, entering the Property 10 mllko repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate bullding or other code violadons or dangeroua condldons, and have utitlties. tumed on or off'. Although Lender may I8Iœ action 1UIder this Section 9, Lender docs not have to do so and is not under any duty or obligation to do so. It is agreed that Lender lneon no liabiJity for not taking any or all actions authorized under this Section 9. Any lUDouots disbursed by Lender under Ibis Section 9 shaJJ become additional debt of Borrower secured by Ibis Security In.,ttument. These amounts shall bear intcreøt at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Insttument Is on a leasehold, Borrower shall comply with all the provlsioDl of the lC88e. If Borrower acquires fee title to the Ptðpctty. the leasehold and the fee tide shallliot merge unless Lender agrees to die merger in writing, 10. Mnrtpse 1nIunnœ. If Lender req1Ú1'od Monsage Inmtranco' as a condition ot making tho Loan, Borrower shall pay the premiums .required 10 maintain the Mongagè Insurance In effect. If; for any reason, the Mortgage Insurance coveragc required by Lender ccases to be available from the mongagc insurer that previously provided mch inaurancc and Borrower was rcqui.red to make separately designated payments toward die prcmiumø for Mortgage Inrruranco,'Borrowcr shall pay tbe premiums tequJred to obtain covmge substantlaUy equivalent to the Monaage Insurance pteviously in effect, at a coat SUbstantiaUy equivalent to the cost 10 Borrower of the Mortpgtlln8ntance ,pteviously in effect, from an altematC mortgage insurct sclcoted by Lender. If subetandally cqulvalent MorlgBgO Insurance coverage is not available, B~wer shall continuo to pay to Lender the amount of the separately designated paymentJIthat were due when the insurance coverago ceased to be in effect. Lender will accept, U8C and retain these payments as a non-refundable loss reserve In Beu of Mmtpgc Inmrancc, 'Such IOS8 .reøcrvc shall be non·ref1mdable, notwithstanding the fact that the LClan Is ultimately paId In full, and Lender shall not be .required to pay Borrower any Interest or eunings on such loss reserve. Lender can no longer requlrc loss reserve paynumts if Mottaa,e Inaurance coverage (In the amOunt and for the period that Lender'requlrea) provided by 111\ Inaurer'seJected by Lender a,aln becomes available, Is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lendcrrcquircd Mongage IillNrancc as a oondition of making the Loan and Borrower WB8 required 10 make soparately designated payments toward tho prèmiums for Mortgage Insurance, Bonower shall pay the premiums required to maintain Mortgage Iilsurance in effect, or to provide ,a non·refundable loss 1'08orvo, until Lender's requirement for Mortgage Insunmce ends in IIOcoroance with any writlén agreement between BottOwct and Lender providing for such termination or 1UItiI tcrmination is required by Applicable Law, Nothing in this Section 10 affects Borrower's obligation to pay intll1'08t at the rate provided in the Note. Mortgage InSUlancc reimburSes Lender (or any entity that purchases the Note) for certain lOSses it may incur ifBOttOWct does not repay the Loan as agrcod. Borrower is Dot a party to the Mortgøp Inaurancc. ' Mortgase il1811tel8 evaluate their total risk on aU such Insurance in torce from time to timo, and may emter inlO agreements with other pard os ~t Bhare or modify their risk., 01' reduce losses. These agreements arc on temI8 and conditions that are satisfactory to tho mortgage Insorcr, and the other party (or parties) 10 theao agreements. ThCllc agreements may require the mortsagcs Intuter to make payments using ai1y source of funds that tho mortgage inll\U"eC may have available (which may ino1ndc funds obtained from Mortgage InllUtaDce ptemiumll), As a result of thClle agreements, Lender, any purchascr of the Note, 1lll000er insurer, lIlY telnsutct, any other entity, ,or any affiliate of any of the foregoing, may receive (direcdy 01' indirectly) amounts that dorive from (or might be characterized 88) a portion of HollOwer's paymenll for Mortgage IlIBIII'Bncc, in exchange for sharjng or modifying the mortgage inøumr'srlsk, or reducing losses. If such a8J'8cment provides Ihat an affiliate of Lender lakes a shate of the' lnS\UCl's risk in exchange for' a mlll'C of the premiums paid 10 tho Insurer, the arrangement i8 often termed "captive teinøuranco." Further: (a) Any 'ueb agreements wm not affect the Rm01lDts that Borromr has agreed to par fol' Mortgage Insuraua, nr l1li1 other terms ot Ole LoaD. Such agreemeøt8 will not iDereIWe the amount Borrower wiD owe for Mortgage 1nIurRJJœ, and they wiD not entitle Borrower to iny refund, _ -IA(WY) (0005) CHI., (DSIOII) pag. Uf 11 Fa"" 3D51 1/01 000896 U~~J.jU~:")· i' DOC ID i: 00017037222106007 (II) Any 81Ieh agreem.eJdø wiD not atreet Che rights Borrower has . if IID1 . wiCh respect to the Mortgage IDøur8nce under the Homeowners Protection Act of 1998 or IIIIy otJ1er Jaw. These righll mlY bIcJude the ript to receive certain disc1oaureø, to request IIIId. oblaln canceDaUon of the Mortøqe 1DsIIranœ, to have the Mortgage Insui'aDœ terminated automatieaIly, aDCllor to reee¡Te a refund of all1 Mort¡aKe lDnraDce premiums that were WlOarDIII,.t the time of mch canceDaUOD or terrnm.t1oD. 11. Aulpment of MlsœDaneous ProceedlJl FOrfeiture. AU MisœJJancous Proceeds ate hereby aasigned to and &haD be paid to Lender. U the Property 18 damaged, such Miscellaneous Proceeds sha1l be applied to restoration or repair of the Property. If the restoration Of ropair is economically feasible and Lender's BCCUrity is not leBBCDCd. During moh repair and te81Oralion period, Lender shaIJ have the right to hold such MisceUaneoua Proceed8 unill lm1der hu had l1li opportunity 10 inspect such Property to ensure the work haa been completed 10 Lender's SatisfacUOD, provided that sucb Inspeclion shall be undertaken promptly. Lender may pay for the repairs and tCstoration In aalngJe disbursement or in a series of progress payments as the work is completed, Unless an agreement Is made in writing or Applicable Law,rcquîrcs inlOrcBt to be paid on 8uch ~celllllleous Proceeds, Lender shall not be ICIJ1lÌlCd to pay Borrower any Interest or eatn!ngs on such Miøccllllllcous Proceeds, If the restoration or repair is not CCODomioaJ1y feasible or Lender'8 security would be lesllC/led, the Miscellaneous Proceeds shall be appJJcd to the sums BCCured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneou8 Pmoecdsshall be appHed in the order provided tor in Section 2. In the event of a total taking, destruction, or loas in value of the Propcl1y, the Miscellaneous Proceeds 8hall be appHe!! to the IIUDIB scoured by this Security 1nsuumcn1, whether or not then due, with tI1e excess, If any, paid to Borrower. ' In the ovent of a partial taking, destruction, or loss In value of the Property in which the fair market value of the Property Immediate]y before the partial taking, destruction, or lOBS in value is equal fO or greater than the amount of the øumø secured by this SeDUrlty InlU\lDlentimmcdiately before the parda1 takin¡, destruction, or lOBS in value, unicas Borrower and Lender otherwise agree in writing, the IUIIIIscourcd by this Security Instrument shall be reduced by the amount of the Miscellaneouø Proceeds mUItlpBod by the following ftaction: (a) the Iotal amount of tho 8IHD8 secumd Immediately before the partial taking, dcatnlction, or loss in value divided by (b) the fair market value of the Property Immediately before the pardaJ taking, destnlction, Dr loss In value. Any balance shaD be pøid to Borrower. In thc event ofapllJ'tJaI taking, dcstruction, or iOS8,in value of the Property in which the fair market value of the Property immediatcly before the partial taking, dcstnJction, or loss In value is less than the amount of the øumø øocutod immediately before the partial takin&. dcstrUctlon. or 10&8 in value, unlCßs BOttOwer and Lender otherwise aane in writing, the Miscelllllcous Proceeds shån be applied to the sums IICcured by this Security Instrument whether or not the sums am then due. ' If the Property Is abandoned by Borrower. or It, after notice by Lender to Borrower that the Opposing Party (all defined in the next IICt1tcnce) offers tD malte,an award to IICUle a claim for damages, Borrower falls to respond to Lender within 30 days after the dalð the notice is given, Lender II authorized fO collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums BCCUred by thl8 Security InBtnuncnt, whether or not then due, ·Opposing Party" means tho third patty that OWCII Borrower MlscoUaneoua Proceeds or the party against whom Bouøwer has a right of action In regard to Miscellaneous Proceeds, 'eBorrower .ba11 be in tlcfawt if any action or pmoecding, whether clvU or crlminaJ, is begun that, in Lender's jud¡ment, could re.mlt In forfeiture of the Property or other materia1 imP8Û'l1lcnt of Lender's inlðl'08t In tho Property or tights under this Socurlty Il18ttun1ent. BOttOwer can cure such a default and, if accolcratlon bas occurred, reinstate III provided in Section 19, by causing the 'action or proceeding to be dismissed with a mlin¡ that, in Lender's judgment, pœcludes forfeture of the Property Ot other materlallmpalrmeøt of Lender's in&crest In the Property or righbi under this Security Il\Ittwnent. The proceeds of any award or cJ8in for damages that arc attrlbutabJe to &he Impa.irment of Llinder's in1l:l1:8t in the Property are hereby assigned and shall be paid to Lender. ' . All MiBceUanCOUl Proceeds that are not app1ied to resfOration or 1'Opair of tho Property shall be applied In the mdcr provided for in Section 2, ' -12. Borrower Not Relealed; P'o..bearance By Lender Not a Wllift1'. BxtensJon of the time fur payment or modifiCIIIlOn of amortization of the IIlDIIIIICCIU'Cd by th!a Security Instrument granted by Lender 10 Borrower or any SuccOBBor In InlðfCst of BOIlOWer shan not operate to release the liability of Borrower or any Succe8SOtS In Interest of Borrower. Lendor shall not be roqujrod to commence proceedings against any SUCCCBSOt In inletest of BOttOwer or to refuse to extend time lor payment or othotwlllC I110dIfy amortizallon of the 8UID8 secured by this Security Instrument by reason of any demand made by the 0rig1nal BOttOwer or any SuccelllOtB in Interest 01 BOJTOwer, Any lOIboaranco by LcndCI- In cxcn:ising any right or remedy Including. without limitation, Lender's acceptance of paymenti from thUd persons. cndtlc.s or SuCCCBSOll in Intcnl~t of Borrower or in BDlDl1Dbi less thllll the amount then due, shall not be a waiver of or preclude the cxcrcillC o11111Y right or remedy. 13. Joint and SeTend LiabWJ; CO-sIPeI'l; 8ueeeAorø and ABIIiøns Bound. Borrower covenants and agrees that Borrower's obligations and 1iabllity sba11 be joint and several. However, any Boaowet who oo-signs this Sccutlty Instrument but docs not excwte the Nom (a "CO-8!gner"): (8) Ia co-signing this Scourity flit "A(WY) (1I0OI) CHL (08ID5 P_7of11 Form _1 1/01 000.1997 Jun I~ ¿uur r;4~ O~130SS7 DOC ID t: ,DOD17037222106007 Instrument only to mortgage, grant and convey the co-&igner's interest in the Property Wldez the tcnns of this Scourity wtroment: (b) is not personally obligated 10 pay the I\IIDB BCcwcd by this Security Instrument: and (c) agrees that Lender and any other BOl'1'Ower can agree to extend, modify, forbeel' or Inake any accommodations with regard to the tCrms of this SCCI1rity InS1I\lJnent or the Note without the co-sisner's COlUlcnt. . Subject 10 the provisions of Section 18, any Succeaor In Interest of Borrower who III/SUDICS Borrower's obligations under this Security Ins!nm1ent in writing, and Is approved by Lender, shall obtain all of Borrower's righœ and bencfiþ under this Scourlty Ins1rwnont. Borrower shall not be re1ea&e11 from Borrowers ob1igations and liability under this Scour.ity Instrument Wllcss Lender agrees 10 soch release in writing. The covenants and agœcmonts of this Security Insltument shall bind (except IS provided In Section 20) and benefit the 8Ilccessors and ualsns ot Lender, 14. Loan Cllarges. Lender may charge BOI1'ower fees for services pcrfonned in conneotion with BOJ'lOwer's default, for the purpose of protecting Lcndcr's interest In the Property and rights under this Security IlQtnJmcn'- Inoludlng, but not limited to. atlOtn8)'s' tees, property Inspection and valuation fees. In regard to any other feCI. tho absence of express authority In this Sewrlty In8tnunenl to charge a specIßo fee to Borrower shan not be oonstrued lIB a prohibition on the charging of such fee. Lender may not oharge fees that arc exprcøsly prohibited by this Security Instrument or by Applicable Law, H the Loan is subject to a law which BCtø maximum loan charges. and that law is tinally interpreted so that the Intorest or other loan charges coIJected or to be o'ollected In connection with the Loan exceed the pemúUed limilB. then: (a) any suoh loan oharge shall be reduoed by the amoWlt nccC8saty to reduce the oharge to the permitted limit: and (b) any SUD\S altcady cøUected from BOI1'Ower which exceeded permitted limits will be rofundcd 10 Borrower. Lender may choose to make this tefund by reducing the principal owed under the Note or by making a direct payment to Borrower, It a refund reduces principal, the reduotion will be treated lIB a partial prepayment without any prepayment chll'ge (whether or not a prepayment ohltge is provided for under the Note). Borrower's acceptance of any IIOch rotund made by direot payment to BOl'1'Ower will constitute a waiver of any right of action Borrower might have adøing out of such overcharge. 15. !\lotice& All notices given by Borrower or Lender in conneotion with this Security Instrument must be In writing, Any notice to Boaower in connection with this Security Instrument shall be deemed to have been given 10 Borrower when mailed by fllSt 01888 mall 01' when aotually delivered to Borrower's notice address it sont by other moans. Notico to anyone Borrower sJiall constitute notice to all Borrowcts unlcsø Applicable Law expressly requires otherwise. The notice addreas sball be the Property Addteas unleaa Borrower has dcs!gnated 8 subst.ltute notice addrcøs by notice to Lender. Borrower shall promptly notify Lender of BorroWer'1I cbange of addrc88, It Lender apocifios a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. Thore may be only one designated notice address unclet' this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first clu& mslI to Lendcr'ø addrcss stated herein unless Lender ha& designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be docmed to have boen given to Lender 'until actually reoeived by Lender. H any notice requited by this Security Instrument i& also required WIder Applicable Law, the AppJlcable Law requirement will satisfy the corresponding requÙ'emcnt WIder this S~iy In.trumcint. 16. GovemIDg Lllw; Severabßlty; RuJlI8 of COIIItruC:ÜOIL This Security IDBIrun1ent sball be governed by federal Jaw and the law of the jurisdiction in whloh tho Property is looBted. All rights and obligations, conlldned In this Security Inslnlment are subject to any requirements and limi!ations of Applicable Law. Applicable Law mlg\1t explicitly or Implicitly aUow the parties to 'agree by contract or it might be 'silent. but suoh silence shslI not be construed as a. prohibition against agreement by contract. In the event Ibat any provision Ot clamo ot this Security Ins_ent or the Note confliots with Applioable Law, such confJict shall not affect other provisions of thili Security Insttument or tho Note which can be given offcOt without the oonßicting provision. As used In this Security Instrument: (a) worda of the masculme gender shall mean and ino1ude OOD'cspondlng neuter worda or words of the feminine lender; (b) words in the singular shall mean and include the plural and vice VerøB; and (c) the word "may" gives sole dØctetion without any obligation to take any action. 17. Borrower's Copy. Borrower shslI be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property Or a BeJWicill Interest 'in Borrower. As med In this Section 18. "Interest in the Property" means any legal or beneficial inlerest In the Property, including, but not Jimited to. those beneficial interests transferred in a bond for deed, contract lor deed, inataJJment sales contract or escrow agreement, the Intent of which is tho transfer of title by BDn'ower at a future date to a purchaser, H all or any part of the Property or any Interest in the Property is sold or transferred (or if BOllQwer I¡¡ not a natural pctSOn and 8 beneficial inweøt in Borrower is sold or transferred) without Londer's prior wrincn consent, Lender may require immediate payment in toll of all IIUJJlS IICOUtCd by this Security Inaltument. However. this option shall not be exercised by Lender If such exercise ¡II prohibited by AppJicable Law. It Lender exerclies this option. Lender sball give Borrower notice of acccJcration. The notice shall þt'ovido a period of not lcss than 30 days from the ~ the notice is given in accordance with Section 15 within which Borrower muSt pay' all S\IDIØ sewred by this Security Inab'umcnt. It Borrower ~Us to pay these SIlIIIB prior to the expiration of this pe:riod, Lender may invoke any remedies pennlttcd by this Security 1IQtrumcnt without further notice or demand on Borrower. _ -eA(WY lOGO&) CHL (DIIIDa) Plge8 "'11 Fgnn aU51 1/U1 ' ruu~/uJ¿ 000898 O~)30~S? DOC ID 'I 00017037222106007 19. Borrower's JUaht to .ReiDstate After Acceleration. If Borrower meers certain conditions, BOlJ'Ower shall have the right 10 have enforcement of thia Security Instrument dlacontlnued at any time prior to the earliest of: (8) five days bBfoIe sale of the: Propony pursuant to any POWOl' of sale con1ained in this Security Instmment: (b) such other period 88 Applicable Láw might speèify tor the tcmúnalion of BOlJ'Ower's ri:ht to relnøtatc; or (0) OIItry of a judgment enforomg Ihls Security Instmmcnt Those condlliODll arc that Borrower: (8) pays Lender all 8Im1ø which then would be due under this Security Instnlment and the Note lIS if no accoIeration had occmred; (b) cures any default of any other covenants or agreement¡¡; (c) pays all expenses inCUm:d in enfoming this Security Instromen~ including, bUI not limited, to, reasonable altOmeyø' fees, propcny inspection and valuation fees, and olhcr toes incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) Iakoø suoh action as Lender may reuonably tequirc to asl1UC that Lender's inteleat in the Property and rights under this Security Instrument, and Borrower's o~ligation to pay the sums secured by this Security Instnunen~ shall continuo unchanged, Lendðr may require that Borrower pay sach .reinstatement sums and cxpcnses In onø or mo.ro ot the following forms, 81 selootcd by Lender: (a) cash: (b) money order; (0) ocrtUled check, bank check, treasurer'1 check or cashIer's oheck, provided any such oheck is drawn upon an in81lQ1tioo W~08ð deposits are Insured by a fedoral agc:nciy, i118trUmentality or entity; or (d) Electronlo Funds Transfer, Upon relnslatemcnt by Borrowcf, rhil Sccuåty Instrument and obligations securod heroby shall remain fully effective 118 if no acccJeration had occutted. However, this right to rciJIBtate shall not apply in the DII8C of acceleration under Section 18, ' 20. SaIl of Note; CJumge of Loan Sermr¡ Notice of Gr.klYlmœ. The Note or a partial inlOrCst In tho, Note (together with rhis Sccurity Insn:urnent) can be sold one OJ' more timos withoul prior notice to Bonower. A Iale might rc:sult in a change in the entity (known II the "Loan Scrvioer") that coUect. Periodic Payments due under !he Note and this Security Inslr1Jment and pcrIotmø other mortgage loan scrvicJng obligaUonø under the Note, this Security Instrument, and Applicable Law. 'There allO might be: one or more changes ot the Loan Scrvicer unrelated to a sale of the Note. H there is a change of tho Loan Scrvicer, Borrower will be given written notice of the change which will state tho name and addresa of tlie new Loan Servicer, the addtclS to which paymcnrø should be made and any other information RBSPA rcquirca in connect.lon with a notice of transfer of aervlcing, If the Note is lold and thereafter tho Loan is serviced by a Loan Servicer other than the purchascr of the Note, the mort.gago loan servicing obligations' to Borrower will remain with !he Loan Servioer OJ' be transferred to a SUCOØBBor Loan Servicer and ate not 88sumed by the Note purchaser unløss otherwisc provided by tho Note purch88er. . Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individuallldganl or tho member of a class) tbat ariscs from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provl8ion of, Or any dUty owed by reason of, this Security Instnlment, until such Borrower or Lender has nollficd the olher patty (with such notice given in compliance with the requirements ot Section IS) of such alleged breach and afforded the other party hereto a reasonable period after the giving of 8UCh notice to take com:ctive action. H Applicable Law provides a time period whioh musl elapse before cettaln action can be taken, thaI time period will be deemed to be reasonable: for purposes of this paraJ18ph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Secllon 22 and the notice of acceleration given to Borrower purmant to Scction 18 lhal1 be deomed to saüBfy the notice and opportUnity to take corrective action provisions of this Section 20. ' 21. BaIIIrdoDl SubstaDœø. AI DIed in thiø Section 21: (a) "HazardoDl Substancca" are those IUbslaoDCI dc:ftnod as toxio or hazardous substanoell, pollutants, or wutcs by Bnvlronmcntal Law and the following substanoes: ¡88ollne, kerosene, other flammable or toxie petroleum produots, toxio pesticides and herbicides. volatile SOlvent&, matcria18 conlahtlng a&besto& or formaldehyde, and radioactive materials; (b) "Bnv1roruncn1al Law" mcåns federal IawI and lawI of the ,/uriBdiction whcre:the Property Jø located that relate to hoaJth, moty or environmental prolection: (0) "Environmental C1eanup" Includes any reaponøe action. remedial action, or removal action, 88 deftned in Bnvironmental Law; and (d) an "Bnvironmental Condition" moans II condilion that can CIWBC, connibute 10, OJ' otherwise trigger an Environmenlal Cleanup, Borrower shall not cause or pcnnlt tho pteBCnœ, use, dl8po88l. storage, or release of any Hazardous Sub.tancos, OJ'threaten to relC81e any Hazardous Subslaooca, on or in the Property. Bonower shall not do, nor aDow anyono else to do, anything affecting the Property (a) that is in violation of any Bnvironmenlal Law. (b) which creates an Ilnvlronmental Condition, or (c) which, due to the proøonco, UBØ, or relCIIC of a Hazardous Subltance, creBtcll a condition that advcrBely affects the value of the Property. The preceding two' sentences shall not apply 10 the pl"CIcnoc, U8O, or storage on, the Pmperty of BIDII1I quantities of Hazardous Substances that are generany rccognizod to be appropriato 10 nonnalresldcntial uses and to maintenance of the Property (including, but not limited to. hazardous 8Ubsl8ncesln consumer produots). BOlTOwer shall promptJy give Lender written notice ot (a) any Investigation, claim. demand, lawsuit or other action by any governmenral or regulatory agency or printe party involving the Property and any Hazardous Substance or Bnvironmental Law of which Borrower bas aCQ181 knowlcdge, (b) any Environmental Condition. Includln¡ but not limited to, any spJ1Iing, JcaIdn¡, dløchar&o, rc1casc or threat of mleuo of any Hazankml Substance, and (0) !lIlY condition caused by the presenco, U80 or release of a Hazardous Subltance whioh advcrsc1y affCCtll the value of the PropUty. If Borrower lelllIlll, or is notified by any governmental or tegu1alozy authority, or any private party, thaI any removal or other mmedlation of any Hazardous Subatance affecting !he Property is necessary, Bonowcr shall promptly take all necessary rerœdlll1 BOtlons in accordance with Environmental Law, Nothing herein shall croate any obligation on Lender tor an Bnvlronmental ClOllll1lp, flit -8A(WY) (0008) CHL (08/D5) Pagel 0111 Farm 30111 1101 000899 O~)305S7 Jun l~ lUUr r;4~ I'UlU/Ujl DOC ID *: 00017037222106007 NON·UNIFORM COVENANTS. BOlTOwer and Lender further Covenant and agree ..follows: 23. Acœleration; Remediel. Lender lIIaJI give notice to Borrower prior to acceJeration foDowiDg Borrower'. brad of any covenant or ......øat in fhiB Security Instrument (but not prior to acceleration under Section 18 unJeSl AppHeabJe Law providel otherwtse). 'I1Ie u.otice shaJIl]II!CiIfl (a) the defll1lIt (b) the action required to cure the defnIt (c) a date, not less Ibln 30 daJl framthe dale the notice Is given to Borrowar, by which the default must be cnred aJùI (d) OIat Idlure to C1I1'e the default on or belore tbe date øpecilied. in the noClce DIa)' result in aa:eleration at the BUmI secured by tJili¡ 8ecarit)' I118trmnent and ale of the Property. The notice 8baJl further blform Borrower of tlIe right to teÎllltate after aœeleratlon, and the right to bring a court action to assert the' non-exiøtenee of a default or any other Mille ot Borrower to acœleration and øaJeo It the default is not eared on or before the dJlte .peclðed In Ole notice, Lendar at Its option may require iDimediate psymeot in faD of all BUDlS ncured b1 tbis Security IultrmneDI without further demand au.d Dlay Jnvou tbe pomr of sale and any otbel' remedies pe,mitted by AppUcable Law. Lender iliaD be entitled to eollec:t aD øpeIIØes ineurred in pursuing the remedies prp'fÎded in thi8 Section 22, inc:IudIng, but not Ihntted to, reasonable attorneJl' tees aJùI costa of title evidenœ, If Lender invokes the power of sale, Lender iliaD give notice of bJtent to foreclose to Borrower and to the penon in poslll!llion of the Property, It dUl'erent, In accordance with AppDeabJa Law. Lender IhaD give notice of the sale to Borrower In Ole maDller provided in Section 15, 'Lender shaD publish the notice of sale, and thø Proptlrty IIha1l be 801d in the manner preøcn'bed by Applicable Law. Lender 01' iIB dollÏp1ee DIsy )JIII'Cba.ee the Property at any we. T'JIe proœeds of the sale shaD' be applied In the fOllowing orelerl. (a> to aJ] expeNes of the sale, including, bat Dot Umited to, reasonable attorneYl' fel!ll (b) to aU I1IIDS .eenred by ibis Securlty Instrument; and (c) any Uc:t!8I to the pl!l'lOn or pe1'80Dl JegaDy enlitled to It. 23. Release. Upon paymènt of an sums secured by this Security Instrument, Lender .haIl rclcasc 1hIs Security Inøtrumcnt. BoaoWet shall pay any tðcordalion costa. Lender may charI' Borrower I fee for rcJð88ing thil Security Instrument, but only If the fee is paid 10 I third party for scrvi~ rendered and the cbar8inB of the fee is permitted under Applicable Law. , ' 24. Walvel'8. Borrower releases and waives all rlgbta under and by vme of the hameatead exemption Jlwø of Wyoming. BY SICJNINO BBLOW, Bwrower /lCccptø and agrees to the tenns and covenants cónlained in this Socurity InstrumOllt and in any RIder executed by Boaower and recorded with it. GI& ..AIM) (Do05 CHI. (lIII05) paga10 of 11 (Seal) ·HOIIOWSI' (Seal) ·Bc¡øowar (Seal) ·HOIIOwer , (Seal) ,BDll'DWOf Fann 3051 1101 000900 0930SS7 000901 STATE 011' WYOMING, ~_............ !/r.....d ......m..... r:~~ 1~ by DlAJ'\ \I. ClAyr1 ' a~ ~~#\ lAy'" DOC ID '1 00017037222106007 COUDtyll1 \ ~ ~ LT ,^-ne. . ~1 . My CommIlBion Expires: 1\- q - ~\O - - ~ d(SJ\Ali) NoIuy PoIlu. MISTY TORRES - NOTARY PUBLIC COUNTY OF . STATE OF TETON WYOMING MY COMMISSION EXPIRES 11-9-2010 GIt oIIA(WY) (00051 OHL (08ID!I P~g, 11 of" . Fonn 1\151 1/01 Jun 18 2007 7:48 , ~ '~I ~32 o.¡t.) .'),() ~ 57 ,., ..) ]I 000902 DOC ID #: 00017037222106U07 CONDOMINIUM RIDER THIS CONDOMINIUM RIDER Is made this FIFTEENTH , day of JUNE, , 2007 , and Is Incorporated Into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrumenf1 of the same date glve,n by the undersigned (the "Borrower") to ,secure Borrower's Note to Countrywide Home Loans, Inc. dba America's Wholesale Lender (the "Lender") of the same date and covering the Property described In the Security Instrument and located at: 544 AIRPORT ROAD #1, ALPINE, NY 83128 [Property Address] , The Property includes a unit in, together with an undivIded Interest In the common elements of. a condominium project known as: LAKE VIEW [Name of Condominium ProJect], , (the "Condominium Project'l), If the owners association or other entity which acts for the Condominium Project (the "OWners ASSociation") holds tItle to property for the benefit or use of its members or shareholders, the Property also Includes Borrower's Interest In the Owners Association and the uses, proceeds and benefits Of Borrower's interest. CONDOMINIUM COVENANTS. In 'addition, to the covenants and agreements made In the Security Instrument, Borrower and Lender further covenant and agree as follows: , ' A. Condominium Obligation.. Borrower shall perform all of Borrowers obligations under the Condominium Project's Constituent Documents. . The "Constituent Doouments" are the: (Q Declaration or any ot~er document which creates the CondomInium Project; (II) by-laws; (iii) code' of regulations: .. and (Iv) other equivalent documents, 'Borrower shall promptly pay, when due, all dues and assessments Imposed pursuant to the C~nstituent Documents. ' , MULTlSTATE CONDOMINIUM RIDER-8lngle FamIly-FannIe Mae/Freddie Mle UNIFORM INSTRUMENT fI1& -8P1 (0512) CHL (12/05)(d) , VMP Mortgage Solutions, Ino. Page 1 of 3 Fonn 3140 1/01 III *23881,* .1.11..1 , · 1 7 0 8 7 2 2 2' 1 0 0 0 D 0 1 0 0 8 R * ~UIIIULUUI 1.I4U u I~I U~L 0('.-) "1 0 r- 1::""''-;1 _, t,,, _,-::a.""}" 000903 DOC ID #: 0001703722210~007 B. Property Insurance. So long as the Owners Association rr'!aintains, with a generally accepted Insurance carrier, a "master" or "blanket" policy on the ,Condominium Project which Is sBtisfactory to Lender and which provides Insurance coverage In the amounts (Including deduotlble levels), klr the periods, and against l,oSS by fire. hazards Included within the 'term "extended coverage," and any other hazards, Including, but not limited to, earthquakes and floods, from which Lender requires insurance, then: (I) Lender waives the provision In Section 3 for the Perlodlo Payment to Lender of the yearly premium Installments ,for property Insurance on the Property; and (ii) BorfC)wer's obligation under Section 5 to maintain property Insurance coverage on the Property Is deemed satisfied to the extent that the required coverage is providëd by the Owners Assooiation policy, What Lender requires as a condition of this waiver oan change during the term of the loan, BDrrower shall give ~nder prompt notice of any lapse in required property Insurance coverage provided by the master or blanket polley. In the event of a distribution of property Insurance proceeds In lieu of restoration or repair followtng a loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be paid to t..ender for applICation to the Bums secured by, the Security Instrument, whether or not ~hen due. with the excess,' if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take suoh aotions as may be reasonable to insure that the OWners Association maintains a public liability Insurance policy Bcceptable in form, amount, and extent of coverage to Lender, D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower In connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the common elements, Dr for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by ihe Security Instrument as provided In Section 11, ' E. Lender's Prlo( Con..nt. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to; (i) the abandonment or termination of the Condominium Project, exoept for abandonment or termination required by law in the case of substantial destruction by fire or other oasualty or In the case of a taking by condemnation or ' eminent domain: (10 any amendment to any provisiC?n. of the Constituent Documents If the provision Is for the express benefit of Lender: (III) termination of profess/anal management' and assumption of Belf-management Df the Owners ,Assooiation; or (iv) any action whloh would have the effect of rendering the public liability Insurance cDverage maintained by the Owners Assoolatlon unaoceptable to Lender, " F. Remedies. J1 Borrower does not pay condominium dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Seourity Instrument. Unless Borrower and Lender agree to other terms of payment" these amounts shall bear inter~st from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesti~g payment. Gi£-8R (0512) CHL (12105) Page 2 of 3 Form 3140 1/01 Jun 18 2007 7:d8 , _32 O~)~10SS7 000904 DOC ID *:' '00017037222106007 BY, SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained In ' this CondomInium RIder, ' tvr (Seal) M Borrower (Seal) M Borrower (Seal) . Borrower CSeal) . Borrower 8&-81=1 (0512) CHL (12/05) Page 3 Of 3 Fonn 3140 1/01 ,",UII 10 LUU J I. 1.4.0 rULl/u.JL O~1305S7 000905 LOAN #: 17037.2221 . FlXED/ADmST ABLE RATE RIDER (LmOR One-Year Index (As Published In Ths Wall Strs!t Journal) . Rate Caps) TßIS PIXBD/ADJUS'I'ABLB RATE RID~ is madc this :E'IE'TEENTH day of JUNE , 2 0 0 7 ' , and is incorporated into arid shall bo dccined to åmend and .supplement rhe Mortgage, Deed ot Trost, or Security Deed (tho "Security 1nstmmenttl) ot the sarne date given by the ,unde1'8igned ("Borrower") to ßeCU1'e Boaower~s Fixed/Adjustable Rate Note (the ''Note") to Countrywide Home Loans, Inc. dba Ameri9a's Wholesale Lender ("Lender") of the same drtte and covering the property described in the Security 1nstmrncnt and Jocated at: , '544 AIRPORT ROAD #1 ' ALP!NE, WY 83128 [Property Addreøs] , TIlE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FJXEJ> INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LJMlTS THE AMOUNT BORROWER'S ADJUSTAØlJ1: lNTJOO!:st :RA'm CAN CBANGE A.T ANY ONE TJME AND TBEMAXIMUM RATE BORROWER MUST PAY. ADnmONAL COVENANTS. In addition to tho covenants and a/VCCments made in rhe Security Instrument, Borrower and Lender further covenaiu and agree 88 foJJows:, ' , A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed inwest rate of 6 . 500 %, The Note also provides for a change in the initial fixed rate to an adjuståbJe interest rate, as foUQws: 4. ADJUSTABLE INT.EJmsT RATE AND MONTHLY PAYMENT CHANGES, . '(A) Change Dates The initial fixed interest rate I will pay will change to an adjustable interest rato on the ruat day of ' JUL î , 2 012 , and the adjustable interest tate 1 wiU pay may change on that day every 12th month thereafter. The date on which my initial fixed interest rate changes to an adjustable interest rate, and eàCb date on which my adjustable interest rate could ch~ge. is caUed a "01angc Date. n · FIXED/ARM Rider Interest FlrsilOnly LIBOR One-Year Index 1 E46o-~S' (1 0/05) (d) Þage 1 of 5 11111· ·2309"· 11111.1111 · 1 703 7 2 221 000 0 0 1 E 4 8 0 · Jun 18 2007 7;d8 . ___, _32 O~-}30S57 000.906 (B) The Indø Beginning with the ñl1Jt Change Dlue, my adjustable interest rate will be based on an Index. The tlInd~" is the 'average of interbank offcrød tates fOt one-year U.S. dollar-denominated deposits in the London market ("LIBORtI), M published in The Wall StrIlBI'Jour/'&al. The most reoent Index figure av8i1able as of the date 45 days ~fore each Change :Cate is called the "Current Index, n . If the Index is no longer available, the Note Holder will choose a new index that is based upon comparabte infonnation, The Note Holder will give me notice of tbis choice. ' LOAN i: 170372221 (C) CaJcuJation of Cbanaeø Before each Change Date, the Noto Holder will calculate my new interest rate by adding TWO , ONE-QUART pcrcentagepoint&( 2.250 %) to the Current Index. The Note Holder . will then round the rcsuJt of this addition to the nearest one-eighth of one percentage point (0.125'1&). Subject to tho limits stated in Section 4(1) below, this rounded amount witt be my new interest rate Wltil the next Change Date. The Note Holder will then detennine the amount of the monthly payment. Por payment acljustmonts occurrlng before the First Principal and InteteSt Payment Doe Date, the amount of my monthly payment w11J be 'sufficient to repay aU acCrued interest each month on the unpaid prlncipåt at the new interest mte. If I make a voluntary payment of principal before the F'ust Principal and Interest Payment Due Date. my payment amount fot subsequent payments will be reduced to the ~t neccsflary to repay all accrued interest on the reduced principal balance at the current intotøst tate. 'Por pAymen~ adjustmenlll occurring on or after the Fust Principal and Interest Payment Due Date, the amoont of 'my monthly payment win be sufficient to repay unpaid principal and interest that I am expected to owe iQ fuU on the Maturity Date at the current interest tato :In substantially equal payments. ' (D) Limitø on Interest Rate Changes The interest rate I am required to pay at the tm Clumge Date will not be grcatðt than 11 . 5 0 0 fib or Jess than 2 . 25 0 %. Thereafter, iny adjustable interest rate will never be increased, or dcclClI8ed on any single Change Date by more than two percentage points from the rate of interest I have been paying for the preceding 12 months. My intetetit rate will never be greater than 11 . 5 0 0 %, (E) Effective Date of Changes My new intercøt rate will become effective on each Change Date. I will pay the amount of my new ,monthly payment beginning on the firs,t monthly payment date after the Change Date until the ammmt of my monthly payment ohanges again. ' (F) Notice of Changes Before the effective date of any change in my interest rate and/or monthly payment, the Nore Holdet witt dcUvor or mail to me a notice of any change. 'The notice will inctude intormådon required by law to be given to me and alllO the litle and tclephono number or a person who will answer any quCBtiO~ I may have regarding the notice. ;' , " B'-TRANSFER OF TIlE PROPERTY ORA BENEFICIAL INTEREST IN BORROWER . 1. Until my initiat fixed interest rate' changcs to an adjustable interellt rate under the terms stated in Section A above. Unifonn Còvenant 18 of the Security Ins~ent shall read as foHows: I · FIXED/ARM Rider Interest First/Only LIBOR One-Year Index 1 E4SQ..US (10/05)' Page 2 of 5 Jun It! LUU r I ;Ilt! t'ULjfUjL '. O~:l30S~7 00090'7 LOAN t: 170372221 Transfer of the Property or a Beneficial Inturœt in Borrower. As used in this Section, 18, "Interest in the Property" mC8ß.!l any legal or beneficial interest in the Property, including, but, not limited to, those beneficial interellts transferred in a bond for deed, contract fOr deed, instaUment sales contraot or escrow ¡gieenient, the intent of which is the transfer of title by Borrower at a future datè to a purchaaer. ' If aU ot any part of the Property or any Interest in the Property is sold or tranøfeued (or if 'Borrower is not a natural pèl1JOD and a beneficial inærest in BOlIOwer is sold or trwfcncd) without Lender's prior written cxmllCn~ Lender may require immediate paymont in 1\111 ot aU sums secured, by this Security Insttoment. However, this option sball not be exerciRed by Lender if such exeroise i8 prohibited by Applicable Law. If Lender exercises this option, Lender shill give Borrower notice of acccleration. The notice ahall provide a period of not less than 30. days from the date tho notice is given in accordance with Section 15 within whicb norrowOJ' must pay aU sums secured by tbis Security Instrument. If Borrower tails to pay, thOllCl BUW prior to the expiration of tbis p~od, Lender may invoke any !emedies pcnnittcd by this Security Insttoment witbout further notice Or demand on Borrower. 2, When my initial fixed mterest mte changes to an adjustable interest rate under ~hc tcnns stated in Section A above, Unifonn Covenant 18 of the Secuqty Instmment desctibed in Section B,l above shaD then cease to be in effect, anC:l the provisions of Uniform Covenant 18 of tbe Security InRtrument shill be amended to read. as foUows: TraDBfer .of thl! Property or a Beneficlql Interest In Borrower., As used in this Section 18, "Interest in the Property" mew any Jega! or beneficial interest in the Property~ including, but not litnitcd to, those beneficial interests transferred in a bond for deþ:i, contract for deed, installment sales contract or escrow agreement, the inten~ of. which is the tranafer of title by Borrower at a future date to a purchaser. H all or any part of the Ptopotty or any Interest in the Property is sold or transferred (or if Borrowot is not a natural person and Iii beneficial inteiest in Borrower is sold or tranRfelI'ed) without Under's prior written consent, Lender may reqUire immediate payment in full of aU sums secured by this Security Inatrument. However. this option shall Dot be exercised by Lender it such exercise is prohibited by Applicab1c Law. Lender also shaH not exercise this option if: (8) B~w01' cause.4l to be mbmitted to Lender information required by Lender to evaluate the intended ,tran.~eree as if a Dew loan were being ,made to the trarW'eree; and (b) ,Lender reasonably detenninèa that Lender'a 'security will not be impaired by the loan assumption and that the risk of a breach ot any co\tenant or agreement in this Security Instrument is aooeptable to Lender. ' . FIXED/ARM Rider , Interest First/Only LIBOR One-Year Index 1 E460-US (10/05) , Page 3 of 5 ' Jun 18 2007 7;48 O~'}30SS? , LOAN *: 170372221 To the extent permitted by AppJicable'Law, Lender may charge a reasonablc fec wi a condition to Lender's consent to rho loan asswnption. Lender aIøo may require the tranafe.ree to sign an 88BUDlption agreement that is acceptable to Lender and that obligates the trai1sferee to keep aII the promises and agreements made in the Note and in thiJ Secnrlty Instrument. Borrower will continue to be obligated under tho Note' and this Security Inøtrwnent unless Lender releases Borrower in writing, If Lender exeroisCB the option to require iìnmediare paymont in flØl. Lender shall give Borrower notice ot acceleration. Tho notice shall provide a period of not less than 30 days from the date the nodce is given in accordance with SeclionlS within which Borrower must pay all sums secured by this Security Instrument. If BOIIOwet faiIrt to pay these sums prior to the expjration of dds perjod, Lender may invoke any remedies pennitted by this Security In.,trumcnt without further notice, or demand on Bottowoc. . · FIXED/ARM Rider Interest First/Only USOR One-Year Index 1 E:460-US (10/05) Page 4 of 5 . ~~~I J32 000908 Ù~}30SS7 .lUll 10 LU4' , ./l0 rUL:J/U.1L QOQ909 BY SIGNJN'G B Fixed! Adjustable Rat LOAN i: 170372221 Wet accepts and agrees to the terms and covenants conrained in' rhis ~ . FIXED/ARM Rider , Interest First/Only LIBOR One-Year Index 1E460-US (10/05) Page 5 of 5 (Seal) ..Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Jun II! iUUI ';41! ~UiOI UJi O~-l30SSf7 SECOND HOME RIDER After Recording Return To: COUNTRYWIDE HOME LOANS, INC. MS SV-79 DOCUMENT PROCESSING P,O.Box 10423 Van Nuys, CA 91410-0423 Prepared By: VIRIDIANA MEDINA NIL1326 [Escrow/Closing *J 00017037222106007 [Doc ID *J THIS SBCOND HOMB RIDBR Is made this FIFTEENTH day of JUNE, 2 007 and is mcorporaltd inlO and shaU be deemed 10 amend and supplement the Mortgage, Deed of Trust, or Security Deed (the ·Security IDsttument") of Ihe same date given by thel undersigned (Il1o "Borrower" whether there are OlIO or malO persons undersigned) to seouro Borrowllr'ø Note 10 Countrywide Home Loans, Inc. dba America's Wholesale Lender (the "Lender") of the same dale and coveting the Property described in the Seaurlty Inøtroment (the ''PlOpetly"), which is located at: 544 AIRPORT ROAD #1 ALPINE, WY 83128 [Property Address] IlULTlSTA1Iõ SICOND.HOIIE .,DIA· S~gIe Faml~. Fon'" __.,. M.. u~. OR . /" ~ INSTRUMENT Page 1 of 2 Initials: (.. _465ft (0405) CHL (06104)(d) Fo ,880 1101 VMP Mortgage Solutions, Inc¡. (800)521.7291 III . 2 3 8 '8 1 . 1111_11 . 1 70S 7 2 2 2 l' 0 0 0 0 0 2 8 ø 6 R . 00091.0 , .,.."O-'-t""1 O~l,i . ~'"):1 i DOC ID f: 00017037222106007 In addition to the cOvenBUIs IIId asreemenls made In the Security Ina1r1lmcn1, Borrower and Lender further covenant and &gtee tbat Sections 6 and 8 of tbe Security ID8trument are deleted and are replaced by the following: 6. OccupaDCY, Borrower shall occupy, and shall only use, the Property as Borrower's second home. Borrower shall keep the Property avaiJable fo: BOI'J'Owcr's exclusive use BUd elljoyment at all times, and shall not subject the Property to any ümeaharln¡ or other shaied ownerahip arnn,ement Ot to any rental pool or agreement that requires Borrower either to rent the Property or give a management fltln ' or any other perlon Illy conlrol Over the OODUpBlloy Ot use of the Property. 8. Bortower'. Loan AppUeatioD. Boaowet shall be in de(ault if, eluting the Loan application proœss, Borrower or lilY perlons or entities acting .. the direction of Boøower or with Boaowlt's knowledge 0: consent gave materially talse, mlsleadJng, or Inaccurate information or statemenlB to Lendor (or failed to provide Lmdcr with material information) In oonnecüon with 'the Loan, Material repreacnlatiDnl Include, but are not limited to, reJl1'CJelltatlons conceminS Boøower's occupancy of the Property as Borrower's 8COond home. BY SIGNING BBLOW, BorlOW8t accepts and agrees to the ~enns and provisions contained In 1hJs Second Homo Rider. (Seal) - Borrower (Seal) · E¡orrower (Seal) · Borrower (Seal) · Borrower at -36SfI (0405) CHL (08104) Page '2 of 2 Form 3890 1101 0009.1:1. 000912' Q<l")Or-r-~j ~.:J,Ù .:1.-} 1/ DOC ID #: 00017037222106007 CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made this FIFTEENTH day of JUNE, 2007 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to Countrywide Home Loans, Inc. dba America's Wholesale Lender (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 544 AIRPORT ROAD #1, ALPINE, WY 83128 [Property Address] The Property includes a unit in, together with an undivided interest in the common elements of, a condominium project known as: LAKE VIEW [Name of Condominium Project] (the "Condominium Project"). If the owners association or other entity which acts for the Condominium Project (the "Owners Association") holds title to property for the benefit or use of its members or shareholders, the Property also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Borrower's interest. CONDOMINIUM COVENANTS. In, addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i) Declaration or any other document which creates the Condominium Project; (ii) by-laws; (iii) code of regulations; and (iv) other equivalent documents. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. MUL TISTATE CONDOMINIUM RIDER-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT . -8R (0512) ~ CHL (12105)(d) VMP Mortgage Solutions, Inc. Page 1 of 3 Form 3140 1/01 11111111 * 2 3 9 9 1 * 1111111111111111111111111111 * 1 703 722 2 1 0 0 0 0 0 1 0 0 8 R * O~130557 0009.13 DOC ID #: 00017037222106007 B. Property Insurance, So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the Condominium Project, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies, If Borrower does not pay condominium dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. Gft -8R (0512) CHL (12/05) Page 2 of 3 Form 3140 1/01 09,30557 00091.4 DOC ID #: 00017037222106007 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Condominium Rider. ( Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) . Borrower ~-8R (0512) CHL (12/05) Page 3 of 3 Form 3140 1/01