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Home My WebLink About874263 r- ,',',' , ',,,LRASC .:~".:I!:i~"{/ ~~:;7r Thi~~~tort gage I"~"!'.?I. I N SU Boot?f;~;c~i '! MOITUlu ,'~.. " . . ,;g.i;.'.;' "':-r.;:'~;:'. .....,- 03013548 Return To: CHASE MANHATTAN MORTGAGE CORPORATION 1500 N 19TH ST. MONROE/ LA 71201 811. 263 ATTENTION: POST CLOSING · Lt ' Prepared By: o ~.ocl RECE IVED LINCOLN COUNTY CLERK o I JUL - 2 P i'1 3; 3 I J EANN E V'i /1\(; I',J E F~ I<EMMERE:R. WYOMING .. '7 ')/ /w6tAJ l':,,i. BOOK -:..fl i! PRPAGE_____ MORTGAGE [Space Above This Line For Recording Data) 49704767 1497047677 DEFINITIONS Words used in multiple sections of this document are defIned below and other words are defined in Seetions 3, 11, 13, 18, 20 and 2 L Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document. whieh is dated together with all Riders to this doeument. (B) "Borrower" is LYLE F HANSEN/ NANCY A HANSEN/ HUSBAND & WIFE June 26/ 2001 Borrower is the mortgagor under this Security Instrument. (C) "Lender" is CHASE MANHATTAN MORTGAGE CORPORATION L~nder is a CORPORATION organized and existing under the laws of THE STATE OF New Jersey WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT cD-6IWYI (0005) ~1f @ , Page 1 of 15 Initials: '. VMP MORTGAGE FORMS - (8001521-7291 - - Form 3051 1/01 11111111111111111111111111111111111 - - - - n:. (.' r"j I'C ")1 C ") vd (f Li:I'-..U.J 72J Lender's address is 343 Thornall Street, Edison, NJ 08837 Lender is the mortgagee under this Seeurity Instrument. (D) "Note" means the promissory note signed by Borrower and dated June 26, 2001 The Note states that Borrower owes Lender Three Hundred Sixty-Four Thousand, and 00/100 Dollars (U. S. $ 3 64 , 0 0 0 . 0 0 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than July I, 2 03 1 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment eharges and late eharges due under the Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: Qg Adjustable Rate Rider D Balloon Rider D VA Rider D Condominium Rider D Seeond Home Rider D Planned Unit Development Rider D 1-4 Family Rider D Biweekly Payment Rider D Other(s) [specify] (H) "Applicable Law" means all controlling applieable federal, state and loeal statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applieable final, non-appealable judieial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaetion originated by eheek, draft, or similar paper instrument, which is initiated through an electronie terminal, telephonie instrument, computer, or magnetie tape so as to order, instruct, or authorize a finaneial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transaetions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "MisceUaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insuranee proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (Hi) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (q) "RESPA" means the Real Estate Settlement Procedures Act (12 D.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or suecessor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage ..Joan" ~nder RESPA. cD -6/wn (0005), @ Page 2 of 1 5 ,ru,,""__~ Fo.m 305' 1/0' ~ ~- - - Lon ~SOEWJo:l j~1 9\jOE;a6ed 190001 (AM)9-~ , .$IB1l!UI S!llllO ;}lON ;}llll;}PU, lU' UlARd Sl1 l;}PU;}'l Aq P;}A1;}:l;}11U;}UltulSU!1;}lllO 10 )[:lall:l AUR J1 'l;}A;}MOH . 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'1'2 '1 Seeurity Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as seleeted by Lender: (a) eash; (b) money order; (e) certified eheck, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may he designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may aeeept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its seheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding prineipal balance under the Note immediately prior to foreclosure, No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Seeurity Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Exeept as otherwise described in this Section 2, all payments accepted 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; (e) amounts due under Section 3. Sueh payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, seeond to any other amounts due under this Security Instmment, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment eharges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodie Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Fundslt) to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Seeurity Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordanee with the provisions of Section 10. These items are ealled "Eserow Items. It At origination or at any time during the term of the Loan, Lender may require that Community A~sociation Dues, Fees, and Assessments, if any, be escrowed by Borrower, and sueh dues, fees and assessments shall be an Eserow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Eserow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. 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JO lU;)WAl1d llo111M 10J SUl~lI MOl:)Sg AUl110J <:Inp 82L e~>>~ih~J;f) ...... - - - O(i~;4~~b3 729 lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in eonnection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insuranee. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires, What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time eharge for flood zone detennination, certification and traeking services; or (b) a one~time charge for flood zone detennination and eertifieation services and subsequent charges each time remappings or similar changes occur which reasonably might affect such detennination or eertification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Ageney in connection with the review of any flood zone detennination resulting from an objection by Borrower. ' If Borrower fails to ~aintain any of the eoverages described above, Lender may obtain insurance eoverage, at Lender's option and Borrower's expense. Lender is under no obligation to purehase any particular type or amount of eoverage. Therefore, sueh eoverage shall cover Lender, but might or might not proteet Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effeet. Borrower acknowledges that the cost of the insurance eoverage so obtained might signifieantly exeeed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall beeome additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of sueh policies shall be subject to Lender's right to disapprove sueh policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance eoverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economieally feasible and Lender's security is riot lessened. During sueh repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been eompleted to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proeeeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. 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'~,.."....l"-. :~{' lrrl.... 1- - - , " --j "l, q. i.~ '} tib' fl :.t:~'OU 731 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its seeured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, ehange locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest 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 Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Instiranee previously in effeet, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insuranee eoverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance eoverage ceased to be in effeet. Lender will aeeept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender ean no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insuranee as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such tennination Qr until tennination is required by Applieable Law. Nothing in this Section 10 affeets Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. . Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (direetly or indirectly) amounts that d~rive from (or might be eharaeterized as) a portion of Borrower's payments for Mortgage Insurance, in exehange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exehange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower t~ ;J.- refund. GIi! -61WYI ""'" ~.., 0<" ,ru".~ I Fo~ 305' 110' @ ~ - - - ,.1< '".< W"./~"'"' 9 \ ~o 6 aBod <Xl 19000) (AM)9-" "Z; UOp::l~S U! 10J P~P1AOld 1~p.10 ~ln U1 p~nddl1 o:Iq 1I1111S Al1~dOld o:IIll JO lfBdo:ll 10 U01l1UOlS:U Ol po:lnddl1 lOU ;')111 ll1Ill SP;,);,):)Old sno;,)U1!lI~::lSU'\I llV 'l~pUo:I'l Ol p!l1d ~q 1ll111S PUl1 p~U'3!SSl1 Aq~l~l.{ 0:1111 Al1~dold ~lll U1lSo:Il~lU! S,l~pUo:I'l JO lU;')UUredUl! ~lll Ol o:INl?lfiqplll1 ~111ll111l S;')'3mxrep 10J UlfBP 10 p111Ml? 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Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Sueeessors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Suecessors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy, 13. Joint and Several Liability; Co-signers; Suecessors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument ~ut does not exeeute the Note (a "co-signer"): (a) is eo-signing this Security Instrument only to mortgage, grant and convey the eo.signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums seeured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear ,or make any accommodations with regard to the tenus of this Seeurity Instrument or the Note without the eo-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Seeurity Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for serviees performed in connection with Borrower's default, for the purpose of proteeting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of sueh fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maxinmm loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in conneetion with the Loan exceed the permitted limits, then: (a) any such loan charge shall be redueed by the amount necessary to reduee the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduetion will be treated as a partial prepayment without any prepayment eharge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any sueh refund made by direet payment to Borrower will constitute a waiver of any right of aetion Borrower might have arising out of such overcharge.' 15. Notices. All notices given by Borrower or Lender in eonnection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to ,Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise, The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notiee address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Seeurity Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notiee required by this Seeurity Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument, , J!- O..-O'WYI ,=" ,_ " ., " '''''''~II Fo'm 3051 11., ..... 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If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judieial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breaehed any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notitied the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective aetion. If Applicable Law provides a time period which must elapse before certain aetion ean be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of aeceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notiee of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective aetion provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flanunable or toxic petroleum produets, toxic pesticides and herbieides, volatile solvents, materials containing asbestos or formaldehyde, and radioaetive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (e) "Environmental Cleanup" includes any response action, remedial action, or removal aetion, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, eontribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substanees, or threaten to release any Hazardous Substanees, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affeeting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presenee, use, or release of a Hazardous Substance, creates a eondition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that. are generally recognized to be appropriate to normal residential uses and to maintenanee of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substanee, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by, any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in aeeordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. .. .6(WYI (0005) @ Page 1 2 of 15 Inillals,4kd ~ Form 3051 1/01 ..... - - - ~O/L ~90Ew~0:l //~ 1I1V /pSIBllIUI 9 \ jO C \ oOod (90001 (AMI9-'=> . gU1WOAA\ }O SMEl UOndUlaXa pl1~lS~UlOll ~lll JO ~mJ!A Aq pUl1 l;;lpUn Slllgp HE S~A!l1M pUl1 S~Sl1~pl l;;lMOllOg oSJaA!llA\. OtZ . Ml1'1 ~lql1:l!lddV l~pun p~n!llIl;;ld S! ;;l;;lJ ;;llll JO gU1grell:l ;;llll pUl1 p~l~pU~l S~:l!AJ~S 10J Al1l1d Pl!lll E Ol p!l1d s1 aa} ~lll J! 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( ~ ~:-.!, If ." ,.' f...,..l. \. it' -~~ , 9 S/.. ....IIIIl - - - (} Coj';h.121:)3 73'1 BY SIGNING BELOW, Borrower accepts and agrees to the tenus and covenants eontained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: (Seal) -Borrower (Seal) -Borrower ~stt--- (Seal) -Borrower (Seal) -Borrower ~t1~em) IAN Y A H BEN -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower G-6(WYI (00051 @ Page 14 of 1 5 Form 3051 1/01 ~ - LOll L50E WJo:l :SIS!l!UI ~(/ :SS AlUnO:J 8~ I~ l - 9 \ jO 9 \ o5ed -=;;9 ISH : "1:~ vOO~ '9~ ':laO SllJ1dx3 'wwo:J tVf ...... A1NnO:> 09310 NYS o VINl:IO;JIlV:J - Ol1end Al:IV10N en ov6r8~ 1# '~I'/O:J ~ N3010H '0 N3~'0_ - (90001 IAMI9-1e I Cf.l ..... o ~ -Jcx:;,-z: IS I ~a :S::I11dx3 UO!SS1UIlliO;) AW 3dIM ~ GNVaSnH 'N3SNVH V X~NVN J N3SNVH d 3'1NI '[ 0 0 c: J 9 c: euno S!l{l::lUl ::I10J:Jq p:Jllp~lM.oID{~l1 Sl1A\ lU~UltulSU111u!011::110J ::ItU Aq Q \1? 1~ ---y-J) S 'f)NIWOAM.ilO :tUY~S {~9~\7~~f~n ..... - - - {).(\ ,('"<.f>~!i'J ,. " 'oJ , -"~G;j 739 PREF 1/1 ARM 3.00 NON-CONVERT ADJUSTABLE RATE RIDER 49704767 1497047677 (1 Year Treasury Index. Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 2 6 t h day of June, 2001 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 seeure Borrower's Adjustable Rate Note (the "Note") to CHASE MANHATTAN MORTGAGE CORPORATION (the "Lender") of the same date and eovering the property described in the Seeurity Instrument and located at: 450 PINE STREET, ALPINE, WY 83128 [property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS, In addition to the covenants and agreements made in the Seeurity Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 7 .375 changes in the interest rate and the monthly payments as follows: %. The Note provides for 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of July 2002 and on that day every 12th month thereafter. Each date on whieh my interest rate could change is called a "Change Date." MUL TIST A TE ADJUSTABLE RATE RIDER - ARM 5-2 -Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fannie Mae 4-2/5-2/6-2 ARM G.S22R (OOOS) Form 311 ~~r ~~~~GAGE FORMSI~i~:~S.')521_ 9 11111111111111111111111111111111111 ~ ~ - - - ~O/~ LLLEWJO:lj} ~ (1' ,(~:Sle!l!UI 17 ~o Z aBed (8000) I:IZZ8_ 'U111'311 s~gUl1110 lU;JUlAlld AIIIlUOUl AUl JO lunoUll1 ;;llll !nun ~ll1Q ~gUl111;) ()tp 1~1J11 ~ll1p lU~UlAl1d All{lUOW lSlY ~t[l uo gU!UU!g~q lU;;lUlked AltpUOUl M.;;lU AW JO lunoUll1 ;;ltp Al1d lHM. I .;;llllQ ~gUl111;) llOll;) uo ~An"~JJ;;l ;;lWo:>~q lHM. ~llll lS~l~lU! M.;JU AW S;}:JU\~q;) JO ;}lSO ;}An;)~JJ3 (3) . % S Lt:. t: 1 Ul1tp l;)ll1;}lg ;;lq l~A~U lHM. ~l111 lS;)l~lU! AW 'St[lUOW Zl gU!p;JO;;lld ;)1l110J '3u1Al1d U;)~q ~Al111 I lS;)l;)lU! JO ~l111 ;;llll mOlJ (%O'Z) SlU10d ;)~111U::I01;;ld 0M.1 Ullll1 ::IlOUl Aq ;)1110 ;}~Ul111;) ;)ljjU!S AUl1 UO P;)Sl;1;)l:l;}P 10 P;;lSl;1;;l1:lU1 ;}q l~A;;lU lHM. ~1111 lS;Jl;;lllf! AUl 'l;JYl1;;ll;;lt[~ "% S Lt:. S Ul111l SS;JI10 % S L ( . 6 Ul1tp l;;lll1;)l~ ~q 10U lHM. ::Ill1Q ;J'3Ul111;) lSly ~lll ll1 Al1d 01 p~l!nb;;ll Ull1 I ~1111 lS;}l;}lU! ~lll sa:Jueq;) OllSH ls.l.lalUJ uo Sl!W!'I (U) 'lU;)WAl1d AIIIlUOUl AUl JO lunoUll1 M.;}U ~lll ~q lHM. uop111n"1110 s1111 }O lIns~l ;;llll 'SlU;}WAl1d 111nb;;l AHllpUl1lsqns U! ;;lllll lS~l~lU! 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M.~U 11 ;)soot[" lHM. l~PloH ;;llON ~tp ';Jlql1Hl1Al1 l~~uol ou S! x~puI ~lll }I " 'xapuI lU;Jlln;).. ;)lll P::I1ll1" s1 ;;lll1Q ;)~Ul111;) ll;)l1a aloJ;}q SAllp ~t ::Ill1p ;Jill JO Sl1 ~lq1111l1Al1 aln'3y X;}PUI lUa:l;)llSOtlI ::Ill~ 'pmog ;)Al~S~}f ll11ap;)d ::Il{l Aq aIqllHllAll ::Ipl1Ul Sl1 'm::lA ~Uo JO A1Pfill1Ul lUl11SUO:l II 01 p;;llsn[pll S~!l!lnY.lS A1nSl1;}l~ S~l111S p;;ll1un uo Pl;J!A a'3ll1::lAR Ap{a;)M. "Ill S! ..x~puI.. ;)ll~ 'x~PUJ Ul1 UO p~Sl1q ~q lHM. ;}11111S~1~lU! AUl ';}ll1Q ~gUl111;) lS11J ~1ll1ll!M. ~u!uu!8~g xapuI Olq~ (0:) O~L r>oO'.")J.f., .I P^ (.)0 ..:J<<.i1 ~ ~\.,~;" ~ ~ - - -' o~r7L\:~~}3 741 (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include informacion required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice, B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Section 18 of the Seeurity Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Propercy" means any legal or beneficial inCerest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contraet or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require inunediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any eovenant or agreement in this Seeurity Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable 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 eontinue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require inunediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Seeurity Instrument without further notice or demand on Borrower. .-822R (0008) @ Page 3 of 4 Initials~L/ Z!!.~r/ Form 31111/01 ~ - - - ~O/L ~ L LE WJo:l v ~o V aBed @ (8000) HZZS-e lQMOllOII- (ll1;;)S) J:lMOllOg- (ll1~S) lQMOllOH- (Il1;;)S) 19MOllOg- (Il1;;)S) 1:lM01JOg- (Il1;;)S) J:lMOJJOH- (Il1~S) ~J~tr lQMOlJOH- (Il1;;)S) J:lMOnog- (ll1~S) L. NSS~ ~~/ 'l~pnI ;;)ltll{ ~lql1lSnr PV S!lp U! P~U!l1lUO;) SlUl1U~AO;) pUl1 SUU;;)l ~ql Ol S~~l'3tl pUl1 Sl<fu;);)l1 l~M.OllOa 'M0'13a DNINDIS Aa r;~)zt!lJ~n z ~ ,~ l ~