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HomeMy WebLinkAbout931666 Jul 20 2007 13:35 PU32/0B} RGturn To: 0001. 79 11111. LiD. MDEtglUJ'l 4516 South 700 mast '200 SaU LakII CI:l.1:y, uIJi B4107 Prepared By: RECEIVED 7/27/2007 at 3:13 PM RECEIVING # 931666 BOOK: 667 PAGE: 179 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Mlae !tent 4!116 South 700 mut, Ihù.,te 200 salt Lake C1tYI ~,84107 [Space Above This Line For Recordl.. Da.a] MORTGAGE MIN 1001247-0001031987-0 DBFINITIONS Words used in multiple legij011l of this document are' defined below IIDd other words are defined in Seotions 3, 11, 1'. 18, 20 and 21. Certain rules regarding the usage of words used in this doouml ßt are alsD provided in Semion 16. . ' (A) "Security Instrument" means this document, which is dated òJ'uly 20, 2007 together with all Riders to this document. ' (B) "Borrowor" is 11..11;1:1 ~: JUCLSON, An UZWIU:r:ie4 WCIIJ\¥ Borrower is the mortgagor under this Security Instrument. (C) ''MERS'' is Mortgage BlDctronic Registration Systems, Inc. MBRS is a separate corporation that is acting solely as a nomitlee fur Lender and Lender's successors and asøigns. MER! .. the 'm~rtgagee under thll Security lnøtrument. MBRS is organized and exisüng under the laws of DelawlIM, and has an address and tølephone number of P.O. Box 2026, Plint, MI 48501.2026, tel (888) 67!it·MERS. ~1'0HBtS070a1'87 7031987 WYOMING.$ingle ñltnÎIy-Fllnni. 'll1II.n:r.ddja "".c UNIIIOIU" "STFlUMENT WITH MERS _.GAIWY) (0008),02 "'g11 of 15 Inlllll:~ YMP MORTGAGI! !'ORMS. (IDD !i21.121l11' t'li't Sé--' Form aOli1 1/01 Jul 20 2007 13;35 P033/087 , 000180 (D) ''Len'"'' is .~w Line Mo:t.gaoe Let!der is a Di".. of! 1Iap_¡ia *~tlJåge Home Loans, IoLC organized and existing under the laWII of ne state of UUh Léndcr's addrelll is 4516 souüb '700 lIaat 'zoo SaJ,'t Laklll C.:i.~, W' 842.07 (E) ''Notell meatis tho promissory note signed by Borrower Md dated\1U!y 20, a007 The Note states that Borrowor oweS Lmder ODe Buacb:.c:t œ,,_ty œbJ:_ !I1bousaDCi J':l.v. IluDdJ:tId. ard' 00/100 ' Dollar. (U.S. $123,500.00 ) plua intere~. Botrowerhas promised to pay this debt in lCgular Periodic Payments and to pay the debt in full not later than Auguat 1, ::1037 (F) ''Property'' means tho propørty that is desmbed below undClr tho hcading "TrMsfor of Right¡¡ in the , Property," , . (Q)' '....oanll means the debt evidenced by the Note. plus interest, any prepayment charges and late chatgo8 due under the Note, IInd .UllumJ duo under 1h,il;' Seourity InJ1rument, plus interest. ' (H) IlRiden" means all Riden to tbis Seçuriiy IMrument that are 8Jl.couted by Borrower. Tho føUowing Riden are to be exeouted by Borrower [oheck box. anppUcable]: [X] Adjustable Rate Rider 0 Condominium Rider B Seoond Homè Rider o Balloon Rider' 0 Planned Unit DlfVelopmlSDt Ridllr 1-4 Pamily Rider o VA Rider D Biweekly Payrnom Rider D Othor(s) [.peoify] (I) "AppJioaÞJe Law" means aU oontroUing applicable federal. state and looal statutes, ,lCgulatiOns, ord!nMces .00 admÌIÛSI1'a1Ìve rulfIS, and ordèrs (that have the etfeot of Jaw) IU well as all applioø.ble final, non-appealabla judicial opÏ,nion., " , (J) "ComiDunlty AlllOclatloJl. Ouel, reo.. and AueumeJl.tI" means all dues, fCCII, asscssments and other oharges that are imposed on BotItlwer Ot 'the ~perty by a oondominium allSooiatioD¡ homeo,wners asøooiation or simi1ar organization. ," (K) "EJedronlc Fuu. Tnnlfer" means any tnmstòr of fundi, othat than a Í1'III1SIIQtÍon originated by' oheok, draft, or .imi1 ¡' paper inltrumont, whioh is initiated through M electronic terminal, telephonio instrument, computer, or magnetic tape .0 as to order, instnIct, or authorize a financlal institution to debit or ÇMdit an aÇQOunt Suoh term iœludCIII. but is not lhnited to, point-of-lIale Û'Øn$œa, autonuded teller machine transactions, transfers initiated by telcphon~, wire. trMsfcrs, Md automated clearinghouse transfen:. (L) "Eøc:row Items" means tbose items that arc described in Section '3. (M) "MiJceUancOQ' Proeeedllll.mean. MY oompensation, settlement, award of damage.þ or prooeed. paid 'by any third party (other than insuranco proceods paid under tho covoragol doscribod in Section S) for: (i) damage to, or destruotion of, tho Property; (ü) oondemnation or other taking of aU or any part of the Property; (iù1 conveyan¢é in lieu of condeni~on; (Il' (iv) misteprlillentations of, or omis8lons as to, the valuo andlor condition crtbe Pròplh1y. ' " eN) "Mortpge IDI1D'IUIee" means insurance prot~ting Lender agamst the nonpayment of, or default on, the Loan. ' ' . (Q) ''Periodic Payment" means the 1'Cgularly scheduled amount duCl for (ì) principal BtId Ì11taralit under the Noto, plus (ü) any amounts under Scotian 3 of this SecUrity Instrument. (P) ''RESPAtI melIlll the Real Estate Settlement Procedures,Aot (12 U.S.C. SectionZ601 et seq.) and it¡¡ implementing regulation, Regulation X (24 C.P.R. Part 3500), as they nùgh1 be amønded fi:om time to time, or any additional 01: 5UOoeS501: legislation or regulation that govoms the same subject matter. AB usod in 1his Security Instrument, "RBSPA" l'Cfbrs to all requirements IDld restrictions that are impollBd in œgard to 8 "fBdlll'8lly related mortgage loan" even if the Loan does not qualify as a "federally related mortgage 10M" under RBsPA.' ' W-l10MBLS07031187 _SA(WY) (11005).02 Ptøe 2 of 16 , ' I".ÞOI.~ (). k r1 aìf 5'- '7~h98'7 Form 30&1 ' 1/01 Jul 20 2001 13:35 t'UJII/u81 00018:1 (Q) "Succe.sor In Interest of Bono'lVllr" 'JDeanJ any party that has taken title to the Proporty, whether or not that party has Haunted Bl)t1'owl'lr'1 obligations under tho No1e andlor this Security InstrumBllt. TRANSFER OF lUGHTS IN THE PROl'HRTY TJùJ Seourity Instrument secures to Lender: (i) the 1'Bp8yment oftbe Loan, and all renewals, extensions and modifications of the Notej and (ü), tho performance or Borrower'lI COVBl18llts and agreements under tbis Security InstnJDlImt 8Ðd the Note. Por this purpose, Borrower docs hereby mørtgage, grant Imd oonvey to MBRS (lIo1oly as nommee for Lender and Lender's successors and auigns) and to the lIucce5&OII and assigns of MBR~ with power of sale, the following described proporty 10romted in the COUft'by of ¡';l.naoln [1'nJc o( R=ørmD8 .TmiemclÌøn] [Name of Iuoording ll1riadillÛon] uSZ. A"'ACQD IiZØAL DBSCJ\Il'nOllTU Parael m Number: 12-3219-01-4-00-121.00 89211 US BIØKw.&~ 89 GMVD. ("Property Address"): TOGBTHER WITH all the :lmprovamœnts now or hereafter erected I)n the property, and all easements. IIppurtenanœs, and fixtures now or hereafter ,a part of the property. All replacements and additions shall abl)' be covered by tbill SI OIIri1y In5lrument. AU of the foregoing is referred to in this Seourlty Imtrument a. the "Property," Borrower understanCfs and agrees that MBRS holds only legal title to the inttmlJU wanted by ~rrowe:r in thia Seourity I11Itrumcnt, but, if neocasary 10 comply with law or oustom, MBRS (lIS nominee for Lender and Lender's succcaS01'8 and assigns) has the rl,gbt: to exercise any or all I)f tho.e interests, inoluding, but Dot limited to, the right to foreclose and seU the Property; and to take any aation required of Lender including, but not limited to, releasing and canceling tbis Security Instrument. BORROWER COVENANTS that ßorrower is lawfully seised of the estate hereby conveyed and hIlS the right to mortgage, grant and convey the Property and that the Property is uncncumb~d, axcopt for encumbrances of reoord. Borrower warrants and will defend generally the title to the Proparty against all olaims and demands, subject to any encumbrances of record. ' THIS SBCURITY INSTRUMENT çl;lJX1binuII uniform covenant!! for national use and non,unifonn covenants with limitl'ld variations by jurisdiction w conltitute a llllifomi seourity instrument govering real property. which currently ha1i thB address of I~I] (City] , Wyoming 83122 ~ip Codo) PIV"·I16 Inllll'.! DkJ'1 &:if 5L 7031987 W~110HIL.07031'87 _IA(WY) (0000).02 Fol'II! 30&1 1/01 Jul 20 2007 13:35 P035/087 .,A I 0001B2 UNIFORM COVENANTS. Bon'Owør and lAnder covemant ønd agree 81 follows; 1. PQ.yment of PrIncipal, Intareat, Escrow Items, Prepa)'IDent ClaargeJ, Qd Late Charges. Borrower shall pay when due the principal of, and interest on, ihc debt evidenced by the Note and my prepayment charges and late charge. due undllf the Note. Borrower shall also pay funds for Escrow Items pursua:nt: to Seotion 3. Payments due under the Note and this Security Instrumant shall be made in U.S. ounenoy. However, itan)' check or other ÌnIItrunumt received by Lender all payment under the Note or this Seourity Instrument is returned to Lender unpaid, lAnder may requ:iN 1Mt rasy or all subsequent payments due under the Note and this Seoµrlty IllItnPnent be made ,in one or more of the following forms, as 5eJ.egted by Lender: (a) cash; (b) money order; (c) CGrtified chlçk. bank oheok. tre~1I oheolC'Cn' cashier's oheok. provided IInY llUoh oheck ill drawn upon an instltution whosla deposits ørø infIured by a fedtn1 agency, wtrumentality, or entity; or (d) B1ectronic Funds TranBfilr. Payment. are deemed received by Lender when received at the location deaignaød in the Note or at suoh other location as may be designated by Lender in accordancs'with tbll natiçe provisiOlU in Section 15. Lender may retmn any payment or partial payment if the payment or partial payments are insufficient to bring the Loan cuncnt. LcndClr may acçøp1 any paymmt or partial payment insuffioient tl,} bring the Lol!n current. withl)ut wlÚvar of ImY rigbtlll hereunder or prejudioe to its rights to refuse such payment or partial payments in the futuro, but Lender is not obligated to apply øuch payments at the time such paymenll IU'O aooepted. If eaoh Periodic Payment is applied as or its scheduled due, date, then Lender need not pay interest on unapplied ñmds. Lender m,y bold suoh unapplied funds un1il Borrower makCII payment to bring the Loan ourrent. If Borrower does not do So within a reaÎlonable period of tirnB. Lender shall either apply such fUnds or return them t(l BorrowGr'. Ifnot applied earlier, suob funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset at claim which &rrower inigbt have now or in the tirture llgaiu&t Londer Bhan tolieve Botrower ftom making payments due under the Note and this SlQurity Instrument or perfonning the covenantll and agreøme.ntJ lICOured by thiII Security Instrument. 2. Application of Payments or Proceed.. Bx.copt as otherwÌBe dllsr;:riblld in thi5 Seçtion 2, all paymenta acoepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note: (c) amounts due undá1' Section 3. Such payments IIIhall be applied to eaoh Periodic Payment in the order in which it became due. All,)' remaining amounts shall be applied first to late cbuscs, second to any other amounts due under thia Security Instrument, and then to reduce the prinoipal balancse of the Note. If lAndIII' recsives a paymBllt from BorrowllI' for a de&quønt Periodio' Payment wbioh inoludeJ a IUftioien1 amount to pay any late oharge duo, the payment may be applied to the delinquent payment and tho late oharge. Ifmorc than one Periodic Payment is outstanding, Lender may apply any payment MQOi'/l!Id from Borrower to the repayment or the Periodic Payments if, and 10 the went that. eaçh payment ÇIIIl be paid in full. To the ex.tent that any eXOOllII oxillts after the payment is applied to the full payment of one or more P~odiç Payment.. IUch eJWtlI$ mllY be applied to any late ObarPI duo. Vol\U1tary prepaymentl shall be applied first to any prepayment charSC. and then as descn"bød in the Note. Any application of payments, tnsurance proceeds, or Miscellaneous Proceøds to principal due under the Note shall not ex.tend or pOstponll the d1,1e date, or çhange the amourrt, of the Periodio Paymants. 3. Funds tor E.crow ltom.. Borrower shall pay to Lender on the day periodic Payments arc d1,1o undllI' the Note. WltU the.Note is paid in fu1~ a sum (the "Fundi") to provide for payment of amountll due for: (a) taxes and asøessments and other items which can attain priority over this Security Instrument as a lien or enoumbramoe on the property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all inllU1'llD.CC required by'Lender under section S; and (d) Mortgage Insurance pMmiums. if my, or any I\ItnI payable by BorrowBf to Lender in lieu of tho payment of Mortgage Insurance premiums in accordanco with tbla provisions of SeQt.Ù;m 10. TheslI items are caIlsd "Bsçrow Items." At originatign or at any time during the tmn of the Loan, Lender may reQ\dIe t1urt Community Assoclation Dues, Fees, and Asscssments, if any, be escrowed by Borrower, and such ducs, f«a iIIld assessments shan be an l'ûJorow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this section. Barrower shall pay Lender tho Funds for Escrow Itam unlllSS Lender waives Borrower's obligation to pay the Funds for 11m' or all Ssorow Items. Lender may waive Borrower's obligation to pay to Lender FWlds for any or all Bsorow.Item. at øny time. Any sugh waiver may only be in writing. In the event ofsuoh waiver, Borrower shall pay directly, when and whoRl payable, the amounts _SAIWV) (O006).D2 PIli' HI 1Ø InKIIII: b KP1 luf SC 7031987 Ferm a0$1 1/D1 w-1eDNlLso1031,,1 Jul 20 2007 13;35 PU::¡ë/UB7 .I' 000183 due for any Escrow Items for which payment of Funda baa been ~aived by Lender and, if Lender re'quïros. shall furnish to Lènder reçetpts evideaoing suoh payment within suoh time period as Lender may rcqufm. Borrower's obligation to make such payments and to, provide :reçeipts shall far al1 pmposes be deemed to be a covenant and agrccmcnt çontainad in thi$ Security Instrument:, as the phrase "covenant and agreement" is used in Seçtion 9. If Borrowœ ia obligated to pay Bsorow Items direotly, pursuant to a waiver, and Borrower fails to pay tho BIIlount due for an,BsCl'OW Item. Lender ruay e~erciJe its rights under Seotion 9 and pay such amount and Borrower shall then bl!! obligated undID' Section 9 to repay to Lender any such amount. Lmndør may revoke the waiver as to any or all Esorow Itemll at any time by a notice ,given in accordance with Seotion 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in suah amountB, that are then required under this Section 3. Lender may I at any time, oollect and hold Funds in an amount (a) sufficient to permit Lender to apply the fundI at thø time ipeçified under RESPA, and (b) ,not to oxoeed the maximum amount a lender oan rcquim under RESP A. Lender .bItll eatimate the amount of Funds due on the basis of cunent data and reesonablfl estimates of expenditures of future Bscrow rtems or otherwise in accordanco with AppIicabllil Law. The Funds shall bs hsld in an instituüon whoøe œpcllitll are insuted by a federal agenoy, inst1:umentality, or enûty (including Lendor, if Lender iJ an instituûon whose deposits IU'C so insured) or in any Fodera! Home 'Loan Bank. Lender IIhall apply the Punda to pay the Esorow Items no later than the time spe¢ifiod undar RESP A. Lander IlbaU not cJwge Ðom1wer for holding and applying the Funds, annually analy;dng the eaorow accoum, or verifYing the Bsorow Items, unless Lender pays Borrower interest on the Fundi and Applicable Law pørmita Løndør 10 make such a charge. Unless an aueement is macls in writing or Applicable Law requirel interest 1:0 be paid on the Funds, Lender shall not be required to pay BCJm;1wsr any interest 01' clI.1'Dings on tho Funds. Borrowar 8Dd Lsndsr em agres in writing, bowovor, 1~ intørsst shall be paid on th., Punds. Lender shall give to Bcnrower, without charge, an annual acco\l11tln¡ of the Punda all æquJred by RBSP A. If thero is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Bormwsr for ths sxgess funds in &ÇQOrdançe with RBSPA. If there is a .hortage ofPunds held in escrow, as deñned under RESPA, Lender IIhaU notify Borrower as requinsd by MSPA. and BOn'Ower.baU pay to Lender the amount necessary to make up the IIhortagD in aooordance' with RBSP A, but in no more than 12 monthly paymcmts. Ifthiuv is a dø:lil:åency of Funds hsld in tllICl'OW, as dsfined undsr RESPA. Lendsr shall notify BorroWár 11.1 required by RBSPA, IIIld Borrower flhall pay to Løndar the amount nØQassary to maks up the defioienoy in accordanoe with RBSPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrumont, Lcndcrr shall promptly refund to Borrower any 'Fundi! held by Lender. , 4. Charg..¡ Liens, Borrowsr shall pay all taxss, BSSIISsmen1s, charga. finel, and impositions attributable to the Propllrty whioh çan attain priority over this Seourity lnsUument, 1ll8lebòld paynlentJi Of ground rentll on the Propony, ifany, and Community Assooiation Dues, Fees. and AssessmentB, ifany. To tho extent that thCtlC itoms arc Esorow Items, Borrower shan pay them in the manner provided in Section 3. Borrower shall promptly disoharge any lien which has priority over this Security Instrument unless Borrower: <a) agrees in writing to the payment of the obligation secured by the lien in a manner acoeptable to Lender, but only 10 long as Bonowcr is pcrformin¡ luch agrcomcnt; (b) contests the lien in good faith by. or defends against enforocment of the lien in, legal prooeedings whioh in Lender's opinion operate to provent the erúoroement of the lien while those prooeodiDgs are pending, but only until suoh prooeedings are concluded; or (c) secures from the holder oftbc lien an agreement satisfactory to Lender subordinating the lien to thill Security Inlltrument If Lender determinClII tM-t any part of the Property is subjeot to a lien which can attain priority over this Seourity Instrument, Lender may give Bor.rower a notice identüÿing the W-1.DNØ~o1Da1181 -'oIAIWY) (OOø8).øa Pa" . af 11 Inl 'JI:~ &tì,f fjC 70U987 Ftnn Balli 1/01 Jul 20 2001 13;35 P031/081 000184 lilm. Within 10 days of the dam on which that nO&1I is Siven. BorrowBr shall satisfy thll,lian or take one or more of the actioDJ Jlet forth above! in tmll Section 4. Lender may require Borrower to pay a one-time cbarQO for a real CItato tax. ver.lfication and/or reporting service used by Lender in connection with thil Loan. 5. Property ......rmce. Borrowlll' shall kssp the improvmnmrts now existing or hmeafttl1' eredlld on the Properly insured against loBS by fire, hazards included within the term "cx.tendcd coverage," md any 01ber hazards ino1uding, but not limited to, oarIhquakllll and t1oodll, for wm{lb Lender requires inJluranoe, This insurance shall be maintained in the amounts (including deductible levels) and for the periodø that Lendor requirell, What Lender requires pursuant to the preceding sentenoes OIID change during the tmn of the! Loan. Tbe inllUfance oarrier providing the inSI.Ø'&'DC8 shall be ohosen by Borrower ~bject to Lander's right to disapprove Borrower's choice, which right sball not be excroiøed unreasonably. Lender may require Borrower to pay, in oonneotion with this LoIØI, either: (a) a one-time charge for flood zone dtMrmination, oertifioation and 1føoking lIarViÇ8J; or (b) a ane-time ",harge fo'r flood zone detlU'JDinatlon and certification øC1'VÏces and subsequent cbarge& each time rcmappings or øimilar ohtmgeø ooour whioh reuonably might affeot. such dcrtermination or oørtüioation. Borrower shall also be responsible for thø payment of any fees impOled by the Federal Bmm¡enoy Manasement Agency ìn cDnnection with the review of /mY flood ;l:l)I¡e detenni.nation resulting from an objeotion by Borrower. If Borrower fh:lls to maintain any of the coverages described above, Lender may obtain inøuranoo coverage, at Lender's option and Borrower's cxpcnao. Lender ill under no obligation to purohase any particWar type or lIInOunt of coverage. Therefore, such coverage shall cover Lender, but might or migbt not protect Borrower, BotTower' 8 equity in the Property, or the oontenta of the Property, acamst any risk, hazard or liability and might provide greater or laøer coverage than wal previously in effect Borrower acknowledges thai the cost of the insurance coverage so obtained might signifioantly ex.OCI6d the "'Ollt of insurance that Borrower could bave obtained. Any amounts disbursed by Lender under this Section S aba11 become additional debt of BOlI'Ower øooured by thiJ S~ Imtrum8l1t. Th8lle amounts shall bear intlStcst at the Note rate ftom the date' of ~bursemcnt and· shall be payable. with llUoh intcroJt, upon notioe from Lender to Boø:ower tflquelrting payment. , All ÌDsU1'IID",e poliçiu required by Lender and ronøwals of such policies shall be subject to Lender' I rigbt to dÜJapprove suoh poüoÍlla, IIhall include a ltandanl mortpp ",lause, and shall D8tt1.e Lender lIS mortgagee ønd/or B8 an additiorialloss payee. Lender shall have the right to ho~d 1110 policies and renewal cørtiñcatl!ls. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notioeø. If Borrower obtainJ any fODD of insuraDoe coverage, not othefWÍse required by Lendør, for damage to, or demotion of, tbe Property, sucb policy øban include a atendud mortgage olause IIIId shaUlI&1Ile Lendm as mortgagee ønd/ar lIS an additl.ona1loss payee. In the event of lOIS, BorrowlII' shall give prompt' notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unlellll Lender and BomJwlll' olherwiø agriø in writing, any insuranoe prooeeds, whether or not the underlying insuranoe was requÌrerl by IAndu, sha11 be applied to restoration or repair of tbe Property, if the restoration or repair _s eOODQlIlically feasible and Lender' I seourity is not lessened. During such repair and restoration period, Lender shall bave the right to hold such ìnlurançe proçeøds until ùmdcr has bad an opportunity to inspect øuch Property to enaure tho work has been oompleted to Lender's llatimotion. provided that luch inspection ~all be undertaken promptly: Lender may disburse proceeds far thø repairs and 'restoration in a Iing1c payment or in a øerieø ofprognlllJl payments as the work is completed. Unless an agreement is made in writing or AppHoable Law requires interest to be paid on IlUM insur'anoe prooeeds, Lander shall not be rmquircd to pay Borrower any intllrest or earnings on such proceeds. Fees for public a4justers, or other third partiell, fØtIÙ11ed by BomIwlll' ~hall not ,be paid Q1Jt of the insurance proceeds and shall be the sole obligation of Borrower. If tho Moratian or repait' ill not aOOIlomicaUy faasiblo or Lcndet' I security wOúld be lesøened. the insuranoe proceeds shall be applied to the sums øeourcd by thill Seourity Inmument, whether or not then due, with ..eA(WVI (000&).02 P"e BDf 1& 11oIII1Ie~~ ttc-t 5(/ 703198'1 F'nn 8061 1101 W-l'OKILS070~1IB7 Jul 20 2007 13:35 f'u::¡~/OB7 ,~ ·OOQ1SS' the exooss, if~, paid to Borrower. Such insurance proceeds shall be applied in the ardlll' provided for in Scotion 2. ' If Borrower abandons the Property.. Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not rcsp~nd within 30 days tn a notice fì'om Lendèl' that tbe insurance cattier has offmd to slrttlø a çla:im, tbsn Lender ml\.Y negotiato and 50Ule the olaim. The 30·day period will begin when the notice it givan. In either event, or if Lendlll' açquires the Property tmder Section 22 or otherwise, BorrowG1' hereby ø.sngns to Lendlll' (a) BoYrowør' s rights to any insuranoe pmceød.a in an amount not to exoaed,the amounts unpaid under the Noto or this Seourity mslrumont, 8I1d (b) any other of Borrowerls rights (other than the rJ¡ht to any :rcrund or unearned premiums paid by Ðoxrower) under aU,insuranoe policies covering the Property, insofar as such rights are applicable to ihe coverage of the Property. Lender may use the insurance proçeeds eithar to 1Ç8Ïr or restore 1I1e Pn.>party or to pay amounts UDpaid under the Note or this Seourity Instrument, whether or not then due. 6. OeeqplUtÇf. BOI1'Ower shan ooaupy, establish, and use the Property as Borrower's principal residence within 60 days after the ex.ecution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residenoe fOf at least one year aftar 1be date of oooUPIIDOY. unless Lendor otherwise apes in writing. which oonsent shall not be unreasonably withheld. or unless ex.tenuating OÍt'Oum¡¡tanoes exist whioh IU'8 beyond Borrower'" oon1ro1. 7. Preservation, MildnteJaance and Protection of the Property; Inspectio.... ·Borrower shall not dcstroy, damagG 01' impair thc Property, anow the Property to deteriorate or commit waste on the Property. Whether or not Borrowm" is l'IiIsiding in the Prqpmty, Borrowlll' shall maintain the Proplnty in order to prevent, the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that rèplÜr or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deiG1'loration 01' damage. If insurance or oondemnation proceeds arc paid in oonneo1ion with damage to, or the taking ò~ the Property, BoI1'Ower sball be JllllpOOllible for œpllirlng or re¡¡tQring the PToperty only if Lender bll$ JIIle~ed p:Qoeeds for suoh purposes. Lender may dis~urse proceeds for the repairs and ßlstoration in a single paymont or in a eri~ of , progreSII payments as the work is completed. If the in:Ulranoe Qr condemnation proçeeds are not s¢liçient to repair or restore the Property. BoI1'Owet ill not ielieved of áorrow8l" s obligation far the complrman of suoh repair·or restOration. , ' Lander or its agent may make :reasonable entries ¡¡pon and inspections of the Property. If it has :reasonable cause, Lender may inspect the Interior of the improvements on the Property. Lender shall give Borrower natioe at the time of or prior to 5Uoh an interior Wpeotion' speoifying lIuoh ¡eaaonable CBuse. 8. Borrowar'l Loan AppUcattOll. Borrower shall be in .,default if, during the Loan applioanon proco.u. Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave matarially false, misleadmg, Dr inaccurate information Dr statements to Lender (or :t\ûled to provide ·Lender with material in1'onnation) in oonnection with the' Loan. Material representations inolude, bUt are not limited to, representations conoerning Borrowor' 8 oooupanoy of the Property ~ Borrower's principal residence. , J, Protei:don oCLender'.Inter'e.t In tà Property and RIghts Under t.hIa Seeurlty·hulnlment..If (a) BOI1'Ower fails to pmorm the oovenantll and agreementrl contained in this Security Instrumllllt, (b) therø is a legal prooeeding that might sigDifioantly affbot Lender's interest in the Property and/or rightJ under this Seourity Instrument (IIUGh BII a prooeeding in bankruptoy. probate. fOf condemnation or forli!lÌture. for enforoement of a Hem which may atWu plÏorl1y over th1s Seourity Ù1IItrurilent: or to . enforçe laws or regulations), or (0) BOI1'Ower bas abandoned the property, then Lender.may do ¡DC! pay for wbatever is l'IiIasonable or appropriate to protect Lender' B interest in thcs Property and rights under 11ùs Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or rePairing the Property. Lender' 8 actions can ~cludc. but arc not limited to: (a) paying ~y sums secured by a lien whiob has priority over this Security Instrumlmt; (b) appearing in çourt; and (c) paying raasonable CII\-8AIWYI (11000).02 ~'g91 of 1d Inlll'II;~ £ill' '5C 70~1SIS7 parm 30li1 1/01 W-l'ONILS07D31'17 Jul 20 2007 13:35 P039/0B7 000186 attorneys' fccs to protect its interest in thll Property and/or rlghU under thi. Security I1Is1Nment, moludÍDg its secured position in a bankruptcy procóeding. Securing the Property inoludes, but is not limi1ed to, entering the Property to make repairs, change locks, replace or board up doors and wi1ldow¡;, drain water from pipel, eHminø.te building or other codc violations or dangerous conditiontl, and have utilitiu tumed on or off'. Although Lender may take aotion under thiø Section 9, Lender docs not have to do so and :is not under any duty or obligation to do 80. It is agreed that Lander inoura no liability for not taking any or all aotions auth~ed under thi. SeotiOD. 9. " Any amoUl\'ls disbursed by Lèßdir under this Seçtion 9 abaIl beoome additional debt of BorrOwer scoured by this Security Instrument. These amounts shall bll&1' :intmIIlt at the Note rate from the da.te of disbUtsement alld .hall be payable, witb lUob interest, upon notice ftom Lender to Borrower requesting payr.nent. , If thU Seourity Instrument is OD. a' leasehold, Borrower shan comply with. all tho provisions of the , lease. If Borrower aoquires fee title to the Property, the leasehold and tho føe tit1e shall not merge unless Lender agrees to thc merger In writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance' as a condition of making the Loan, Bortower shall pay the premiums requinld to maintain the Mortgage Insuranoe in effect. It, for any reason, the Mortgage Insurance coverage reqWrod by Lander OCIIsel to be available ftom the mortgage insurer that previously provided such insurance and Borrower WBl l'IIquired to make separately designated payments toward the premiums for Mortgage InsuranCe, Borrower shall pay thl!J premiums requited to obtain coverage substantially equivalent to the Mortgage Iniurmoe previously, in efl'eat; at a cost substantially equivalent to the cost to Borrower of the Mortgagc Insurance provio\.l81y in effect, ftom an alternato mortgage insurer solected by Lender. If substantWly equivalent Mortgage Insurance coverage is not available, Borrowcr shan continue to pay to Lend... the amount of the saparately deBi~ payments that were due whim the insuranoe wv.erage oeased to be in eft'eat. Lender will acoopt, use and retain theso payntl!JtttÌl all B non-refundable loss reserve in lieu of Mortpge mM'Uloe. Suoh loss felBlVe sball be non-refundable, notwithstanding tho fact that the Loan is uhimately paid in full, and Lender shall not be required, to pay Borrower any interest or eamings on suoh loss reserve. Lender oan no longer require loss reserve payments if Mortgage InsUrance opverage (in thÐ lIQIount· and for t~ period that Lender requires) provided by an insurer selected by Lender asain becomes available,' is obtained, and Lender requircs separately dcsignatad payments toward thø pnmllutIJ.8 for Mort~agB Insurance. If LendBr l'IIquired MortgBie Insurance as a condition of ma1dng the Loan and Borrower wd roquired to make separately dcsig;natcd payments toward the pte1Dium5 for Mortgage InBUl'B1lC8, , Borrower shall pay the premiums l'IIquired to maintain Mortgage Insurance in effect, or to provide a non-refundable 1088 reserve, 'until Lender's requiremant for Mcirtgage Insurançe mds in acgordance with any \¢tten agreement between Borrower and Lender providing for HUob terminaüon or until terminBÛOD is required by Apptioable lAw. Nothing in this Section 10 affiscts Borrower's obli~aüon to pay intlll'llst at tbs rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchascs the Nøtc) for certain losses it may incur if Borrower docs not repay tho Loan as agrecd. ~wcr is not a party to the Mortgage Insurance. Mortgage inllUl'Bt'l evaluate their total Ìùk 011 all suob insurllnÒe ,m foroe fi'tml tiœe to time, md may enter into agreements with other parties that share or modify their risk, or reduoe lossos. Theso ,agreomentl ate on tormll end conditions that aresa1Ïst\\atory to the mortgage'insurer and the other party (or partios) to, these IIgIeI IDOnta. These agreements may require the mortgage insurer to make payments using eny souroe of ftmds that the mortgage insurer· may have available (which may include fundi obtaincc1 :fI:om Mortgage Insurance premiums). ' As a result of thesc agreements, Lender, any purchasei' of the Note, another insurer, any reinsurer, any other entity, or any affiliato of any of the foregoøg, may recøivø (dJreQtly or indirøctly) amounts that derive from (or might be cbBraçtmized 1LiI) a portion of Bomwer' II payments fOT MortglLge Insuranoe, in eXDhan¡B for sharing or modifyin¡: the mort¡ia&e insurer's ri5k. or reduoin¡ losses. H suoh agreerDlmt provides that an affiliate of Lender takes a abaro of thø insurer's risk in oxchanga for a sharo of the prcmiutnB paid to the insurer, thc arrangement is often termed "captive reinsurance." Further: , (a) A'A'1 11Ich agree.enb wiD not affect thII ablounta that ,Borrower hø agreed to pay for MortEase IDlunnee, or any other term. of the Loan. Such a p'tementl wID Rot IDereale the amount Borrower will owe for Mortgage Insurance, and tIuy wm Dot entitle Borrower to any refUnd. W-UOøx.So703U87 7031987 t1ItSA(WV) (QDD5 .D2 peau ~11B ~toJS:~ St Form 3061 1/01 Jul 20 2007 13;35 t'ullu/ùB7 0001.87 (b) A:ny nch a£1'Hment. wDlllot affect the right. Borrowe.. h.. .. If any .. with reapeet to the Mortgage lnønoee 1UUIer the Romeowne1'l Proteet1on Act of 1998 or any othe.- law. Dillie rlgh.. may Inulacle tlte right tÐ receive certain dlJcloaurell, tò requelt and obtabt olQlcellatton of the Mortgage 1J1Iuranee,' to have the Mortgage lnIunnee ter..m.ted aUtomatically, and/or to receive a refand of any Mortgage bul1Ð'U1I:e premiDlDI tbat were unelU'Jled at tho tlmo of mell. eaneellation or termlUtioll. 11. Allfgnment or MiteeDahen... Proceeds; Forfeiture. AU Misoellaneous Prooeeds are hereby asø:i.gnød to and shall be paid to Lendor. If thl Property is dB1Mged, suoh MilJOellancous Proceeds shall be applied 10 Nstoration or repair of the Property, if the restoration or ropldt is eCODomiçally fÌlasible and Lerndar'1 security is not lessened. During such repair and restoœtion pmod, Ltmdlr IIhall bave the right to hold lUoh MiscelJaneous proceeds until Lender has had an opportunity to inspoct such Property to ensure the work 1w been oompleted to Lender's latis&ction, provided that mob inspmon ,ball be und~tUtkcn promptly. Lender may pay for 1he repairs and restoration in a øinsJ.e disbursàD1ent I;1t in a series of props paymen1B al the work is oompleted. Unless an agreement is made in writing or Applicable Law requirls interest to be paid on Nch MillOeUmeous Prooeeds, Lender shall not be required to pay Borrower any iniatøst or earnings on such MiøceUaneous Proceedl. If the rcs1oœtion or repair is not eçonomioaUy f88.JiblCl or Lender's seourity would be leuened, the Miscellaneoul I'roceeds shall be applied to tbe sums secured by this Slcunty Instrummt, whothar or not then dUI, with tne BJl,cess, if any, paid to Bonower. Suoh Miscellaneous Proceeds shall be applied in the order provided fot" in Section 2. ' In the aVlll1t of a total taking, d8ltruotion, or lollS in value of the Properly, the Miscellaneous Proceeds shan be applied to the Iwnl secured by this &çurity Instrument. whether or not thon duo, wi1h tho eXCCSI, lieny, paid to BOlTOWør. ¡11 the IIvent of a partial taking, destruction, or lOBS in value of the Property in which the fair markot valuo of tho Property immediately before tho partial ta1dJ1g, destru"mon, or 1011. in value is equal to or greater than the amount ot tho SWDS sccured by this Security Instrument immediately befurø the partial taking, destruction, or 101111 in value, un1e.. Bonowor and Lender otherwise agree in writing, the øum& scoured by this Security Instrument shall be reduced by tho amOunt of the MisçølhmeoWl Proceeds multiplied by the foUowing ftaotion: (II.) the total amoW1t of the sums secured immediately before the partial taking, deltructi~ Of 10ls in Vlllue divided by (b) the :fair market value of the Property itnmediately befort! the partial taking, destruction, or lOBS in value. Any balance shall be paid to Borrower. In the evotrt of a partial1aking. destrudion, or Iou in value of the Property in whioh the fair market value ot tho Property immediately before the partial taking. destruction. Or lols in value is less than the amount of the 1IUß15 lIeoured immediately before the partial taking, destruction, or loss in value, unle.. Borrower and Lender otherwise agree in writing. the Miøcl!lJ1aneous ProÇt eds shall be applied to the !UI(l I lIeoured by this Security Instrument whether or not the øums arc tbOfi du~. , If the Property is abllndODed by BorrowflJ',' or if, after notioe by Lender to Borrower that the Oppo5ing party (as, dClfinod in the next sentence) off'erø to make an award 10 Icttle a claim for dam... Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the MiøccllancouI ProcelSdø Irither 10 :restoration or repair of the Property or to the sums s~ured by this Security Instrument, whether or not then due. "Oppoling pa:r:ty" means the t1úrd party that owes Borrower ~c~llaneous Procæda or the praty against whom Borrower has a right of action in regard to Misccnaneouø Proceeds. ' Borrower shall be in defàult if any action or proceeding, whether civil or criminal. is begun that, in Lender'1 jud,gmont, could result in forfem,re of the Property Or other material impamnent of Lmdot's interett in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has OCCIll'Nd, reinstate as provided in SlIOtiOa. 19, by ollusing'the aotion or prooeeding to be dimrlaed· witb IL ruling tha.t, in Lender', judgment, preoludes forfeiture of the Property or other material impairment of Lender' I interest in the Property or righ1s under this Seçumy Instrument. The proceeds 'of any 8Wsro or olaim for damagðIJ thld are attn'butable to the impakmont of Lender' s interest in the Property IIl'f hereby asligned and shall be paid to Lender. All Miscellaneous Froceeds that are not appHed to tcsloration or rcpa.ìt of the Property shall be applied in the order provided for in Section 2. __8AIWV) ¡g005).02 polê' of10 _'I': atVl litt.ç $L 7031917 Form 30&1 1101 W-l'ONBL807031'87 Jul 20 2007 13:35 P041/087 0001.88 12. Borrower Not Releaøed; Forbearqçeßy Lender Not a W.her. Extension of the time for payment or modification of amortization of the ~mns seçlJI'Bd by this Seourity In5trument granted by Lender to BorroWIII or øny Suooll550r in Interest of BolTowcr shall not operate to rellS8So the liability of BolTower or any Successors in Intœrøst of Borrower. Lender shaU not be required to commence procccdings against any SucceB80r in Interest of Borrowèt ot to refuse to extend tiØle for payment or otherwise modifY amortization of the 81ItnS ¡eCUJ"lld by thiJ Seourity InRtnlment by reason of ¡my demand made by the original Borrower or any Succossors in Int4!ltest of Borrower. Any tbr'beanmoe by. Lender in exercising any right or rmnedy including, without limitation, Lender's acceptance of payments ftam third persons, cntitios 01' Successors in Interest of Borrower or in amo1dritlloss than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. loint IIIJd Several LlablUty; Co-slgncn; Sacco..on and AuJp. øoand. Borrower covenants and agrees that Barrowar's obligations BIld liability sba11 be joint and ~vel'al. However, any BOITOwer who co-signs this Security 1nøtrumcnt but does not øxeQUte the Note (a noo-IIignerl'); (8) is oo-lIignmg this Seourity Jn5trumtmt only to mortgage, grant and convey the co-signer' s interest in the PropCl11y under tho terms of this Seourity Instrument; (b) is not personally obtigatlJd to pay the sums seli1ured by this Seçurity Instnunont¡ end (0) agrees that Lendcr and any other Borrower can agreo 10 Ox.1ønd. modify, forbear or make any accommodations with regard 10 the tenns of this Security Jnstrument or the Note without the oo-lIigner'. oonseJrt. Subjeot to 'the provisions of Scction 18, any Successor in Interest or Borrower who IISBumGB Borrower's obligations under this Security hmrumllDt in writing, and is approved "by Lender, shaU obtain all of Bon'Owllt'. rigbtll and benefitll under this Seourity Instrument. Borrower shall not bc released ftom Borrower'.. obligations and liability under1:hiJl Sec;uríty In.wment unless Lender agrees to suoh release in writing. The covenants and agreements or this Security Instrumcnt shan bind (exçept IS provided in Section 2.0) and benefit the SuCCClSSorl and ani¡ns of LendIlI. ' , 14. Loan Ch;agel. Lender may char~e Borrower fees for Servioel performed in oonneotion with Borrower' s default, for the purpOfIC of protecting Lender's interest in the Property and ri,ghts under this Security Instrument, including, but not limited to, attorneys' fllllS, property inspection and valuation fees. In regard to any other fees, the absence of expreøs authority in this Security Instrument to charge a spcciI1c fee to Borrower sbaJl not be construed alii a prohibition on full cbar:in~ of such fee. Lender may no1 Qhar~e fees that are expressly prohibited by this Seourity Instrument or by Applicable Law. If tho Loan is subjeat to a law whioh sots maximum loan charges, and that law is finaUy interpreted so that the interest or other loan charges collected or to be collected in conncctian with the Loan exceed the permitted limits. then: (a> any such loan ohargè shall be reduced by the amount nccc88IIY to reduce the charge to tho permitted limit; and (b) any SUIDI aJraady f;:Ollitli1tlld from BorroWBl whíQh exoeaded permitted limits will bc refunded to Borrower. Lender may chooso to make this refund by Nduoing the prinQipal owed under the Note or by making a direot payment to Borrower. If a retimd reduccs principal, the reduotion wiD be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's accapta1lce of any such refund made by direot payment to Borrower will oonstitute a wN.ver of any right of action Borrower might have arising out of sucb overcharge. 15. Notleeli. AU notioll' given by Borrower or Lender in oonneotion with this Seourity Instrument must be in writing. Any notIce 10 Borrower in connection with this SeÇurity Instrument shall be deemed to have been given to Borrower whl J1 mailed by firat olaN mail or when aotually delivered to Borrowor' s notioo address if sont by other means. Notice to anyone Borrower shall cons1itute notice to an Borrowcn unlel8 Applioable Law expressly requires otherwise. The notioe addrOlll aha11 be the Property Addrcu unless BOlTOWBl hIS desiplld a lIublrtitute notioe addleø by notioe to Londer. ÐotJOwBr maU promptly notify Lender of BOrrowor' s ohange of address. If Lender specifics a procedure for reporting BolTower's obllnge of address¡ then Borrowel' shall only ruport a oha¡ge of address through that øpeoiñed procedure. There may be only one designated notiCIJ address under this SlIcmity Instrument at anyone time. Any notioe to Lender shiùl be given by delivering it or by mailing it by first olus mail to Lender s address lltated herein unlB" Lender has dellignated another addnw by notioe to Boxrower. Any notioe in conneoti011 with this Security Instrument shall not be deemed to bave been given to Lcnder until aotuaUy raçeived by Lender. If any notice requimi by this Security InstruInllIlt is also required under A.pplicable Law, the Applicable Law requirement will satisfy the corresponding requimnent under this Security Instrument. W-i.O.-LSo?OSi.8? -"8A(WY) (DDDI).D:I Pagt100111 " InRltl.:~ ~7·f Sc. 1031987 Form 10&1 1101 Jul 20 2007 12:35 P042/087, 000189 1(i, Govmûn2 Law; Severabtuty; Rules of C01Ÿb'ul,1tion. rbi. Security Imtnunent øba11 be goyorncd by federal law and tØe law of "!be jurisdiction in which the Property is located. All rights and obHgatiOIlll oontained in this Security Instrument are subject to any requirements and limitation. of Applicable Law. Applicable Law might ex.plicitly or impüoitly anow the parties to agree by contract or it might be silent, but such Blience shaU not be comtrued as 11 prohibition against agreement by con1ract. In the &Vent that ImY provision or olause of this Sccuri1y Instrument or the Note confliets with Applicable Law, such conflict shall not aft'80t ctbœ' provisions of thiø Security Instrument or the Note which can be given effect without the conf1icting provision. As ul8d in this Security Instrument: (a) words of the masculine gøndlll Iball møan and include corrcsponding neutED' words or words of the feminine gender; (b) words in the singular shaD mean and include the plural and vice versa; and (0) tho word ~may~ givel lole discrøtion witbout any obligation to take any action. ' 170 Borrower'. Copy. BorrowBr shaU be given one copy ofthe Note and otthis Security Instrument. 18. Tramer of the Prope:tty or a Bmefida1lnt:ereat In Borrower. As used in this Section 18, "InterCBt in the Property II means any legal or beneficial interest in the Propørty, including, but not limited to, thOle beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agrcœmtmt, thà intent ofwhil,1h is the transfer ofûtle by Borrower It a futuro date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transft¡rrcd (or if Borrower is not a natural person and II beneficial interest in Borrower is sold or transferred) without Lender's prior written oonsent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be eXBI'I,1Í1ed by Lende1' if lluon e"eroile ia prohibited by Applicable Law. If Lender eXflro1sell this op1ion, Lender shall give Borrower notice of accclcraüon. The notice sball ' provide a period of not less than 30 days ftom the elate the notice is glVIm in accordanl,1e wi1h Seçtion IS within which Borrower must pay all sums secured by this Se~ Instrument. If Borrowlll raih to pay these sums prior to the e,.-pitatian of thia period, Lcmder may invoke any remedies permitted by this Seourity Instrument without further notice or demand on Borrower. 19. Bori'owu's Right to Reihltilte After Åœe]en.ücIB. If Borrowlit' meet. oertain conditions, BorrowlIr sball have the right to have enforcement of this Seo\irity InJtrumont discontinued at a11)' time prior to the earliest of: (a) five days before sale ofthc Property pursuant to any power of sale çontained in this Seourity'InlltnJmentj (b) suoh othœ' period u Applicable Law might speoifÿ for the tcnninaûon of Borrower's right to reÍIurtatej or (1,1) entry of a judgment mrlbX'Oing tbia Seoutity I't1l1in1Ql8JIt. ThOlle oonditions are that Borrower: (II) pays Lender all IIU1UJ whioh then would be due under this Security Instrument and ilie Note 81 if DO aooe,1B1'1,tion had ooourred¡ (b) cure. any default of a11)' o1i1er covenanta or øgreementaj (c) pays aU expenøes iucurrod in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees,' property inJpecti011 and valuation fees, aud other feei inoumd for the purpose of protecting Lender' 8 interest in the Property and rights under this Security Instrument; and (d) takes sucih açtÌl)n lIS Letlder may ~asonably require to 1WUJ't' tJmt Lender's interest in tho Property and rights under this Security Instrument, and Barrower's obligation to pay the IU1nS sccurad by this Security Instrument, .ball continue unchanged. Lender may rcquke"that Borrower pay such reinstatement sums and expenses in one or mol'è of the following forms, as selected by Lender: (a) cam; (b) money order; (1,1) oertified cbeck, bMk obeok, treasurer'1iI cheok or oasbier'. check, provided any such oheck is drawn upon an institution whose depo5its IIt8 insuted by a fedml agenoy, ins1rumentaüty or entity; or (d) Blectronio Funds Transfer. Upon reinstatement by Bmrower, this Security Instrument and obligations secured hereby ahall nma.in fully etr8Qtive as if no aoollleratioD had occunod. However, 1his right 10 reinstate shan not apply in the case of accotmtion under Section 18. 20. Sale of Note; Chanle of Loan SIl'VJeer; Nodee of Grløvanee. The Note or a partial interest in the Note (toglllhlll with tbis Seoutity I11Strument) 08.J) be ~ld one or more time. without prior no1ioe to Borrower. A sale might result in a chango in the Imtity (known lIS the "Loan SED'vicer") that ,"oUeets Periodic PaytnenU due undllf 1he Note and this Seourity Instrument and perfonns other mortgage loan serviclni obligations under the Note, this Security Instrun1cnt, and Applil,1abla Law. Tho also might bø one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Scrvicer, Borrower will be given written notice ofthc chango which will state ilia name and address of the new Loan Servicer, the addrellll to wbiob pllyman111.Mould be 1Mde and any other information RBSPA Cll'tU(WV) (0005).02 Page 118116 InlUll':~ aì~ SL- 7031987 Form 3061 1/01 W-~90NBLI070S1987 Jul 20 2007 13;36 P043/0B7 000190 require. in oonneotion with a notioo of transfer of servicing. If the Note is sold and thereafter the Loan is slIrYiced by a Loan SlII'Vioer otbet 1bøn 'the purohu8r of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be tnmsfmed to a successor Loan Servicennd are not, assumod by the Notü purchasBl.' Unlfll. otherwUc provided by the Note purchaser. Neithør Borrower lIor LePder may oommonoe, join, or be joined to any judicial action (as either an individual litigant or the member of a class) thBt arises ftom the other party's ¡u;rtiOtlS punuam to this Søourity mRrument or that aneges that the other party has breached any provision of, or any duty owed by reason of, this Security Instnunent, until suoh Bmowcr or Lender bas notified the other party (with such notice given in r;1Omplimçe with the requirements of Segtion 15) of lI\Ioh fIlleged breaM IInd Id'forded the other party hereto a reasonable period after the giving of such notice to take corrective aètion. If Applioable Law provides a time 1)eriod which must elapse before certain action can be taken, that timo period will be dlSetMd to blS reBsanable for purposes of this paragraph. The notice of accelendion and opportunity 10 oure given to Bonower pursuant to Seotion 22 end tho notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notiCl!l and opportunity to takra corractiva aotion provisions ofthiB Section 20. n. HazardouI Subltances. As usod In this SOction 21: (8) "Hazardous SubstaDCøs" IIIU those substances definod as toxic or hazardous substancU, pollutantll. or waitø. by Bnvironmental Law and thø following substances: gasoline, kerosene, 'other flammable or ,toxic pctrolewn products, toxic pesücide8 and hmbioidtll, volatile solverltll, material. oontaining ubesto. or formaldehyde, IInd radioactive materiab¡ (b) "Envirommmta1 Law" means federallaw8 and law. ofthejurisdiøtion where the Property is looated 1hat relate to health, safety or environmental protection; (c) "Bnvironmental Cleanup" includes any response action, remedial action, or mnoval aotion, a5 dotined in Bnvironmcmtal LaW¡ and (d) an "BnVÚ'omncmtal Condition" means a condition that can causo, COnttl'buto to. or othetWUiè trigger an BnviromnlJ.l1tal a~~. ' Borrowcr sba11 not ciusc or permit thc presence, use, disposal, stotaac, or relcaac of any Hazardous Subslanccø, or 1hreatento release any Hazardous Substanccø, on or in the Property. Borrower shall not do, nor allow anyone else to do. anythinß a:ffecting the PrQperty (a) that is in violation of any Environmental Law, (b) which creatcs an Bnvironmen1al Condition, or (c) which, due to the prescnce, USC, or release of a Haœdous SubaúU1oe, oreates a oonditWn that ådVlll1ely lIft'ectll the value of the ~party, The preçeding two 8mtønceS j¡hall not apply to thø pteSmC8, use. or storagœ on the Property of small quantiües of Hazudous Substances that aro ganmlly ror;1Ognizcd to be appropriBto to normal residential uses end to maintenance ofilie Property (including, b¢ not limited to, hazardous substances in consumltt prOducts). Borrower &ball promptly sive Lender written notice of (a) åny investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Bnvh'onmental Law of which Borrower bas actual knowledge, (b) any Bnvironmental Condition, including but not limited to, any spillin,g, leaking. discharge, releasc or threat ot release of, any Hazardous Substance, and (0) I'D)' oondition oaused by the presence, use or releasc of a Hazardous Substance which adversely aff'CCts t~e value of the Property. If Borrower learns, or iø notified by any governmental or regulatory authori1y, or any private party. that any removal or other rømlSdiation of any Hazardous Substance affecting the Property is nccessary, Borrower shall promptly take aU neocsøary remedial aotions in accordanoe with &vironmcn1al L"w. Nothing herein ~ha1l orßII.te ,any obliBation on LondOI' fur an Bnviromnental Cloanup. I'tgo1Z of1G 11I\11.1.:~ Cti·Ç' S{, 7031987 W-190NBLS070319B7 e.-eAIWYI (UDD6).D2 Farm 30&1 1101 Jut 20 2007 13;36 I-'U44/087 00019.1 NON-UNIFORM COVBNANTS." Borrower and Lender furthc;r coycmant and agree as fonows: 22. Aèeeleradon; lùmedlel. Lender lhan give notice to ~olTow:er prior to acceleration foDowIDg Borrower'l breae'" of any covenant or agreement in thll Security Jnøtrument (but no* prior to BcceleratiOll odeI' Section 18 UDlell Applicable Law provides otherwile). The notice lhalllpedfy: Ca) the default; (b) the actioh reqolred to CU~ the detànltj (c:) a date. not leu thlÜl. 30 day. from the date the notice III given to BOl'rùwel'1 by wlúch the default mlllt be i:'IIt'edj .:ad Cd) that faiIure to c:nre the default on or before the date Ipeçified in the notiee may t'eBult ÍJ1 ."~lention of the IIIDJII lel,tlired by , thla Seeurity Inltramcnt and IIle of the Property. The notice IhaD furtlter Inform" Borrower of the right to reJnltate af'œr acceleration and the rlghHo bring a ccnut action to allert the non-wlteace of a default or OIlY other deteue of Borrower to acee1eratlon and lale. If the default II not eund 011 or before the date IIpedfied In the notice, Lender at its option ma'Y require immediate payment in fuU of " aU "mil lIeClU'ed by thill Seeurity Jmfrument without further demand and may invoke the power of iale and, any other remedleJ pemltted by Applicable Law. LeJuter ahaIl be entitled tG coDeet aD ~enlel inc1lJ'l'ed in purauing the :remediei provided In tbill Section 22, including, but no~ IImJted to, reuonable,atIDmeyl' feel and œatl of title ~vid~ce. If Lender IDvoke. the power of lalOt Lender Ihall Øvo nodeo of Intent to foreclose to Borrower and to tile porion In pOlleNlon of the :Propel1y, If iUlrerent, In p.ceorcbuace with Applicable Law. Lender Iball give notice of the .ale to Borrower In tho mannér provIded In Section IS. Lender ,hall pubUIJ& the nodce of laIc, and the Property .hall be .old In the Dllumer pPllmüed by Applicable Law. Lender or Itl delJIDeD'may purcllale the Property at RßY lale. The proceedl of the .lIIe IbaD be appUed in the following order: Ca) to aU OXponøOI of tho laic, Including, but I1Ðt limited to, rOalonablc attomayll feea; (b) to all JUm. llecured by thl. SeC1lrlty In.trunumt; und (c) any excell to the penon or penonalegally eRtltJed to It. 23. Re1eue. Upon payment of all sums secured by this Security Instrument, Lender shall relealc this Socur.lty Instrument Borrower shall pay any recordation co81s. :Lender may 'oharge BOmJwer a fee fOT rulsaSÌD¡ this Security Instrument, but only if the fee is paid to a third party for servioes rendered and the charging of the 100 is permitted under Appliœble Law. 24. Waiven. Bo1'1'Ower reløasos and waivss all rights under and by virnle of the homcstead ex.empûon IaW8 ofWyommg. "-øo 13 of 10 Ifojllall'llli cn .ç SC '1031987 W-190NlLJ07031,e7 4I\oISAIWYI (OOG6).0I Fonn3DG1 1101 Jul 20 2007 13:36 POd5/0B7 " 000192 BY SiGNING BBLOW, Borrower accepts and agrees to the 1etnlS and coverumt. oontainod in this Seourity Instrument and in any Rider executed by Bo1rower and rooordOd with it. WitnøsSIlS: !:!:;..1.r.~. ~~~~ t{g ÞLé.rt ~}Y1 ~f " (Seal) -BDITOWcr (Seal) -BIII1'IIWIII' (Soil) ·Borzawer (Seal) ·Borzawlll' (Sell) -13armwcr (Sell) ·JlOINWIII' (Seal) ·BolIUWl:I" 4It'A(WY) (0000),02 P",t 14 04' 10 7031987 Form tali 1101 W-lg0~07031gB7 State of Idaho OÒ0193 County of Franklin On this 20th day of July 2007, before me Janice Shumway, who, being by me duly sworn, did say that he is the attorney-in-fact of Debbie K. Nelson, and that said instrument was signed on behalf of said Debbie K. Nelson, by authority, and said Steve Coleman acknowledged to me that he as such attorney-in-fact executed the same. Resides: Preston, Idaho Expires:3"'/~ _ ;)./)1/ {\~ ijVþ'lic , ~þ.NICE 8,'1/// " ......... ~J~" , .. .. v.: " ~ .... NO'»o~··.. ~ ~ ..... I... ";¡r;.' ~ i \~~ - : '. ~ i ~ - =(J):,~ " : = ::':'-\'. Vh ::: ~ "..... .... Q'l./C .... ~ ." ~ -. .." "'" 0 ........... " ~>II '¡:- IDA\-\O "" 111111",\\' ORDER N11MBJtR: NTI...t329 EXHIBIT "A" ! 000194 A PARCEL OF LAND LOCATED WITHIN THE SEY.sEY-t OF SECTION I, TOWNSHIP 32 NORTH, RANGE 119 WEST, 6TI1 PM., LINCOLN COUNTY, WYOMING, BEING MOR£ PAllnCULAltLy DESCRIBED AS FOLLOWS: BEGINNING ON THE EAST SECTION LINE OF SAID SECT10N I, AT A POINT WlUCH IS SOum. A DISTANCE OF 1422 . FEET. F'R..OM Tim EAST QUARTER CORNER OF SBCTION 1; . AND RUNN1'NG 1HENCB SOU'IH ALONG SAID SECTION LINE 17S FEET¡ I ,THBNCE WH$T 249 FJŒT; THENCE NORTH 175 FBET; THENCE BAST 249 FEST TO nm POINT OF BEGINNING. Jul 20 2007 13:36 t'u4IJ/OB7 000195 ADJUST ABLE RATE RIDER (LmOR Six-Month Index (AIl'ublllhed I. The Wall Street Journal) . Rate Caps) THIS ADJUSTABLE RATE RIDER Is made this 20th day of auly 2007 I and is incorporated into and shall be deemed to amend and supplement th" Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (" Borrower") to secure Borrower's Adjustable Rate Note (the · Note") to Hew LinD Ho:c1;!iJ~, D:i. v. o:f Repub.1!o :Noxtg'&Q1I 11- Loans, ..U: (" Lender") of the same date and covering the property descriÞed in the Security Instrument and located at: 89211 us BICJIIWAJ: 89, GJI.OVml, WI 83122 [Property Address] . THE NOTe CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE! MON'THLY PAYMENT. THE NOTE UMITS THE AMOUNT BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENAN'TS. In addition to the covenants and agreements made In the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an Inltllilllnterest rate of 7.750 %. The Note provides for changes in the interest rate ;¡nd the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY' PAYMENT CHANGES (A) Change Date. Ihe interest rate I will pay may change on the first day of Augu.t. 2012 I and on that day every Uh month thereafter. Each date on which my,interest rate could change Is called a "Change Date." (IS) The Index , Beginning with the first Change, Date, my IntereESt rate w ill be based on an Index. The "Index" Is the average of Interbank offered rates for six month U.S. dollarftdenomlnated deposits In the London market ("LIBOR"), as published In The Wall Street Journal. The most reoent Index figure available aES of the first bUESiness day of the month immediately preceding the month in whloh the Change Date ocours Is called the "Current-Index." If the Index is no longer available, the Note Holder will ohoose a new Index that Is based upon oomparable Information. The Note Holder w III give me notice of this choiòe. (C) Calculation or Chlllnge$ Before each Change Date, the Note Holder will calculate my new interest rate by adding ~ò aDd. OMl guaEtel: ' percentage poInts ( 2.250 %) to the Current Index. The Notl Holder w'ill thin round the result of W-19ONC~~07031G87 7031987 IIiIULTISTATE ADJUSTABLE RATE RIDER - WBOR SIX-MON'TH INO ;)( (AS PUausHSJ IN THE WALL STREET JOURNAL.: . Single Family,. Fannie Mae Uniform Instrument ..sUR (0402) Form 3138 1101 Page 1 of 3 Initials: ~ VMP Mortgage Solutions, Inc. f}"'1' (800 )521-7291 lA.lt S'- this addition to the nearest one..elghth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below I this rounded amount win be my new Interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be aufflclent to repay the unpaid principal that I am expeoted to owe at the change Date in full on the Maturity Date at my new interest rate in aubatantlally equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Umlts on Interest Rate Chang_ The intere,t rate I am required to pay at the first Change Date w ill not be greater than 13.750 % or less than 2.250 %. Thereafter, my Interest rate will never be Inoreased or decreased on any single Change Date by more than !rwo percentage points 2 ,000 %) from the rate of Interest I have been paying for the preceding 6 months. My interest rate will never be greater than 13 . 750 %. (E) ErfeetlY. Date of Changes My new Interest rate will Decome effective 01'1 eaoh Change Date, I w III pay the amount of my new monthly ¡ayment beginning on the first monthly payment date after the Change Date until the amoun of my monthly payment changes again. IF) NDtlce c:rI' Ch.nge$ . the Note Holder wlll deliver or mall to me a notice of any changea In my Interest rate and the amount of my monthly payment before the effective dafe of any change. The notice will include information required by law to be given to me and also the title and telephone number of a person who will answer any question 1 may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BSNEFlCIAL INTEREST IN BORROWER Uniform Covenant 18 of the Security Instrument Is amended to read al follows: Trllhsfer of the Proþerty or a Benølicilll Ihteteat ih BDrrower. As used In this Section 18, "Interest In the Property" means any legal or beneficial Interest In the Property, including, but not limited to, those beneficial interest& tran&ferred in a bond for deed, contract for deed, Installment sales' contract or escrow agreement, the Intent of which Is the transfer of title by Borrower at a future date to a purcha¡¡er. If all or, any' p-art of the Property, or any Interest in the Propertr is sold or transferred (or If Borrower is not a nstursl p'eI'Bon snd s beneficia interest in Borrower Is sold or transferred) without Lender s prior written consent, Lender may require immediate payment in full of all surns secured by this Security Instrument. However, this option shall not be exercised by Lender jf such exerciu is prohibited by Applicable Law. Lender al80 shall not exeroise this option if: (8) Borrower causes to be submitted to Lender Information required by Lender to evaruate the Intended transferee as If a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's securlt¥ will not be Impaired by the loan assumption and that the risk of a breach 0 any covenant or agreement In this Securify Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee 88 a condition to Lender's consent to the loan assumption. Lender also may require the transferee to algn an assumption agreement that Is acoeptable to Lender and that obligates the transferee to keep all the 'promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and thllll Security Instrument unless Lender rele!lIIes Borrower in writing. W-19ORZLS07031987 7031987 Initials: .lJkiL iTf ~t fIIt-838R (0402) Page 2 of 3 Jul 20 2007 13:38 POd.9/0B7 000196 Form 31381/01 Jul 20 2007 13:36 t'u~u/QB7 '000197 If Lender exercises the option to require immedIate payment In full, Lender shall give Borrower notice of acceleration. The notice shall provide a r;!.erioâ of not leRa tnan 30 days from the date the notlce,18 given In accordance with Section 15 within w~ich Borr~wer must pay all sums secured by this Security Inotrument If Borrower fads to pay theoe sumo prior to the explr'ltlon of this perlod'h Lender may Invoke any remedies permitted by tliio Security Instrument without furt er notice or demand on Borrower. . BY SIGNING BELOW.... Borrower accepts and agrees to the terms and covenants contained In this Adjustable Rate Rlaer.' 1 A-. , .~ ~ ~\Þ-- ~ t<.. te.y (Seal) . DDBD ~. N1!LS_O~Pl__' ~ -B,o~owerA a~ k ~"( ~V\. ~ (Seal) wBorrower (Seal) ~Borrow er (Seal) -BorroWer (Seal) -Borrow sr (Seal) .Borrower (Seal) -Borrower (Seal) . -Borrower W-19ŒNBLs07031987 at-838R (0402) Page 3 of 3 '103198'1 Form 3138 1/01 Jul 20 2007 13:36 POS1/0B7 000198 W·190NELS07031987 ADDENDUM TO ADJUSTABLE RATE RIIDER This addendum is made July 20, 2007 and ia incorpo~ted into and deemed to amlnd and supplement the Adjustable Rate Rider of the same date.. ' I The property covered by this addendum Is described in the Secúrity Instrumant an~ loc:atéd at: 89211 US HIGHWAY a9. GROVER, Wi 83122 AMENDED PROVISIONS In addition to the provisions and agreements made in the Security Instrument, I/we further covenant and agl'8e as follows: ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES Limits on Interest Rate Changes The ¡nteRtlt råte I B~ requll'8d to pay' at the fin;t Change Date will not a gl'8ater than 13.75% or less than 2.25%.Thereafter. my ådjustable interest rate will never be increased or decreas d on, any single Change Date by more than Two percentage polnt(s) (2.00D%) fram the rate of Interest I have been P8Y'f' g for th, precedIng six (6) months. My intereat rate win naver be greater than 13.75%. My interem rata will never be less t an 2.25%. ' , . TAANSFI$R Q :: THE PROPERTY'OR A BENEFICIAL INTEREST IN BORROWEr Uniform COV8na~t 18 of the Security Instrument is a~ndød to read as follows: Transfer of the Property Dr a Beneficial Interest In Borrower, As used In this Section 18, "Interest In the Property" means any legal or beneficial ¡ntereslln the Property, Including, but not limited to'r.hose beneficial Interests transferred In a bond for deed, contract fer deed, installment salea conlract or eacrow agreema ~ Ihe inlent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest In the Property 18 sold or transferre~ (or if Borrower 18 not a natural person' and a beneficial interest In Borrower is sold or transfarred) without Lender's prior written consent, Lender may require Immediate payment in fuU of all 8ums 8ecured by this Security Instrument. Howevrl r, this option shall not be exercised by Lender If such exercise Is prohibited by Applicable law. , . If Lender exercises this option, Lender shall give Borrower notice of ecceleration. ¡rho notice shall provide a period of not less than 30 days' fram the' date the notice is given in accordance wilh ~ection ~5 within which'Borrower must pay all aums secured by thia Security Instrument If Borrower fails to pay these sums prior to the expiration of this period. Lender may Invoke any remedies ,permItted by this Security Instrument wIthout further notl ,e or demand on Borrower. ' In Witness Thereof, Trustor has executed this addendum. -:f/Zð/ð '1 Døtø é1~ Døl8 Døtø BalTllMr Siunølllrv Oalø BOODW8r Slgnlllurv Aurora AddendLtm ID Rh;ltlr 1202 Jul 20 2007 13:36 P052/087 000199 W·190NELSOT03198T INTERE T ..ONt Y ADDENDUM TO ADJurT ABLE RATE RIDER LOAN NUMBER: 7031987 PROPERTY ADDRESS: 89211 US HIGHWAY 89, GOVER, WY à3122 I I ' THIS ADDENDUM Is made thIs 20th day of July 2007, and Is Incorporated Into and Intended to form a part of the Adjustable Rate Rider (the "Rider") dated the same date as thIs Addendum executed by the undersigned and payable to New Line Mortgage. Div. of Repu~lic Mortgage Home Loans, LLC (the Lender). THI,S ADDENDUM supersedes Section 4(C) of the Rider. None of the other provisions of the Note are changed by this 'Addendum. 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new Interest rate by adding Two and One Quarter percentage point(s) (2.2500/0) to the Current Index for such Change Date. The Note Holder will then' round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated In Section 4(D), ,this rounded amount will be my new interest rate until the next Change Dat~. During the Interest-Only Period, the Note Holder will then determIne the amount of the monthly payment that would be suttlclent to repay accrued Interest. ThIs will be the amount of my monthly payment until the earlier of the next Change Date or the end of the Interest-Qnly Period unless I make a voluntary prepayment of principal during suoh period. If I make a voluntary prepayment of prinoipal during the Interest-Only Period, my payment. amount for sUbsequent payments will be reduced to the amount necessary to pay Interest. at the then current interest rate on the lower principal balance. At the end of the Interest-Only Period and on' each Change Date thereafter, the Note Holder will determine the amount of the monthly payment that would be sufficient to repay In full the unpaId principal that I am expected to owe at the end of the Interest-Only Period or Change Date, as applicable, in equal monthly payments over the remaining term of ~e Note. The result of thIs calculation will be the new amount of my monthly payment. After the end of the Interest-Qnly Period, my payment amount will not be reduced due to voluntary prepayments. ' Dated: '1-/24/07 ÆJMkj(pl}/h ~ ~ ~ BOITQwer DE!BBI~K. NELSON ~ () J OJ tu..A ~~tl1. ~ BOITOWsr Aurora Ann Rider Addendum 1.0.