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HomeMy WebLinkAbout873760 ~ ~itELEASS OF I( 'f :-::;, / I ,t., ,)/ ""'- I.....c;~.r" I ,I" /. . .. _'.! 'I Thi'~'~.Mot't iB.ge ! . ,.,=:: -~ ~".8f MOnlAU.~ I \ SUBenL-----,.::-., I ~~ ;!II. I F.; [ C [ t \/ L C~ i_I ~,jCO 1.:-: GCi iJ ~,i T'( CI_L i.;(I\ {'I "J ;'2[ "T ~: 0" v-u,u 01 JiE1 - 8 i',;; '9; (' i After Recording Return To: WYOMING EMPLOYEES FEDERAL CREDIT UNION 2223 WARREN AVE CHEYENNE, WY 82001 ~; E /\ r\~ f\J r= I; / /.~IL c; ';'...j l~ F'( ~.( [ ;\J: ~:./; !:~ F\ C r~~' ~ l~'i Y 0 ;\(11 ~\! G BOOK 46_6 PR PAGE 1 7 4 Loan No; 5317133 [Space Above This Line For Recording D~t>] __ MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, II, 13, 18,20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument")ll1eans this document, which is dated June 1,2001 together with all Riders to this document. (B) "Borrower" is DAVID A MCCANN AND KATHLEEN M. MCCANN, HUSBAND AND WIFE BOITower is the mortgagor under this Security Instrument. (C) "Lender" is WYOMING EMPLOYEES FEDERAL CREDIT UNION Lender is a A FEDERAL CREDIT UNION urganized and existing under the laws of THE STATE OF WYOMING Lender's address is 2223 WARREN AVE CHEYENNE, WY 82001 Lender is the mortgagee under this Security Instrument. (D) "Note"means the promissory note signed by Borrower and dated June 1, 2001 The Note states that DDrrower owes Lender One Hundred Eleven Thousand DOLLARS and Zero CENTS DollaFs (U.S. $ 111,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than July 1, 2031 (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 charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. WYOMING . Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 La.." Fo"". IIIC, (BOO) 44th:lbb5 LFI #FNMA3051 1/01 (A) . Page 1 of 13 '"itia',gt;:f(/f\- - - - - ~r ' - - - U~~r73?60 · 7 r' .J.. J (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]; D Adjustable Rate Rider D Balloon Rider D Biweekly Payment Rider D Other(s) [specify] D Condominium Rider D Planned Unit Development Rider D V.A. Rider D Second Home Rider D I -4 Family Rider (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial 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 transaction originated by check.. draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (1) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) 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. (0) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.c. ~2601 ct 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 successor legislation or regulation that governs the same subject matter_ As used in this Security Instrument, "RESP A" 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 loan" under RFSPA. (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. .. c..'. .... WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ~ Form 3051 1101 , tJ:- Laser Forms Inc (800) 446-3555 /741 lFI #FNMA3051 1/01 Pag,;, 2 of 13 Initials' , '(,,/ /(1 t ~ ,.,. - - - '1/1)115/",-/ :.SIU!l!UI E~ ,10 E alied ~O/t ~90S'o'V>JN,j# 1::/1 u> Y , ! gggl';-!!1>t (UU\l)~UI .WJo::/ Ja.e1 // ~on ~SOE WJOd ,. , IN3INml1SNI INl:IO.:llNn ~l!W i'l!ppeJ:lfi'lE!1N i'lIUUl!.:1 - ~I!Wed <lIDU!S - ElNIINOAM 'Apado1d 11>.a1 'ilu~laAO'J lU;;lWnllSU~ Al~l11'J:;JS uuopun n :;JllllllSUO'J Ol UO~p[pS~l11f Aq sUOlln~1l3A P;;Il~lU!I l{FM SlUUU:;JAO'J uuoJ~un-uou pUB :;Jsn IUUO~lBU10J SlUBU;;lAO'J uuoJ~un s;;lUIqrnO'J J"NtIWD1USNI A..lIllD.;)tIS SIH.l 'p10'JalJO Sa'JUB1qUl\l'.)Ua AUB Ol pafqns 'SpUBrnap pUll SW~Bp lIB lSU~B'ilB Apad01d aql Ol aIm al{l AlIu1aua1l puaJap II~M pUB SlUBllBM 1aM01l0S: 'p10'Ja1 JO sa'JUB1qWn'Jua .10] ldan8 'p<J.laqUlll::JUaun S~ APado.l.d aqJ lBql pUll Apado1d aql A:;JAUO'J pUll lUBI1l 'a1lll1l110lU Ol ll{'il~.l aql seq puu p::JAaAUO'J Aqalal{ allllS;;l aln JO pas~as AII11JMllI S~ I:;JMOllOg lllql S.lNVNtIAO;) lltI1\\01l110S: II 'AlladOld" al{l SB luawllllsuI Al!In'Jas s~ql u~ Ol pallap1 Sf 'ilu~0'ila10J ;;lln JO IIV 'lualUlUlsuI Alun'Jas s~ql Aq palaAo'J aq OSI\! lI\!qs SU09~PP\! pUll slualUa:lUldal IIV 'Allad01d aql JO llud u .I;;luua.laL[ .10 MOll sa.lllrx~J pUB 'sa:JUuual1nddll 'sluawaslla IIll pUll 'Apadold aql uo papala launa1aq 10 MOU SluawaA01dlU~ aql lIe H.lIM. ll3:H.ltIDO.l :("SS;;llppV Al1ad01d,,) [apO:) d!Zl RHER llU~lUOA.,\,\ ' [iiI!:)] \fN13 O....Jlsl O\fO~ 9NI~lS AOOnW UPS JO SSa1ppll aln SEll AIlualln'J q'.)~qM 9NIWOAM 'A1NnO::> N10:::>NI1 .:10 smlO::>3~ 1'11:::>1.:1.::10 3H1 NI a3aHO:::>3H aN\f a311\f1d S\f };fnO.::l11Nn 'S31"V"lS3 NOAN\f:::> ~31"V"~d NI OE 101 [UO!IO!pSpnr 5u!pJooal:l JO aweN] [U01PIPS!Jnr 5U1PJOOal:l JO ad^l.l UIO:JU!l JO A1NnO:::> aql u~ palll'JOI Al1adold paq~'Jsap gU~MolIoJ ;;lI{l 'a[IlS JO l;;lMOd L[J~M 'su8fSSll pUB S10ssa'J'.)11S S,lapua'] pUll lapUa'] OJ AaAUO'.) pUB lUlll1l 'a1l111l110lU Aqa1aq S;;lOP 1aMOJ.l0S: 'asod.Ind S~lll 10d 'aloN aL[l pUll lUaWnllSUI Al~l11'Jas S!I{l lapall s111:;nU:;l:;l_lflu pUll SlUllUi)AO'.) S,.I:JMOllOg JO ;;l'.)UllUUOJ.I;;ld aI{l (~O pUll :aloN aql JO SUU~lIJ'J!J!POlU pue sUO~SUalXa 'S[llMaUal lIll pUll 'uuo'] aql JO lUaWAllda1 aql W :lapUa'] Ol sam'.)as lU:;llUnllSUI Al~11'.)as S~ll.l A.lll3:dOlId 3:H.l NI SlHDIll dO 113:dSNV1LL o I 7" ,] l..~ .' O~}(~-,r:t,RO .~ ":,\;:":":' ..'.... . .;" ''':'.-'; ","", ~ :'''':'~;::'":;;;:;':'-J.':"'; ;~:".:;~T";-~"'." ~ - - - 087~r',t)o 1 '7 '1 (. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the folluwing [urms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section IS. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept 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 scheduled 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 BOlTower 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 principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower mieht hflve now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except 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; (c) amounts due under Section 3. Such payments shall be applied to each Pcriodic Paymcnt in the order in which it became due. AllY lemaiuing amuunts shaH be;: applie;:d first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance ofthe 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 it; 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 charges 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 Periodic Payments_ 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security 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 accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Dorrower, and such dues, fees and assessments shall be an Escrow Item. BOn'ower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the 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. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require, Borrower's obligation to make such payments and to WYOMING . 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Ol Sll .1aAfllM ::Jl{l :;l){OAEll AllW l:;lPU::l'l 'lunOWll q:lns AUll l:;lPU:;l'l Ol Alld:;l.1 Ol 6 uOfP::JS l:;lpUn p::Jluilnqo :;lq UEllp IIl1q<; 18MOUOg: pUll 1unome Ipns Aud pue G uO!1:Jas lapun s1qil!.I SH ::Jst;).le-xe hUUl lapU::J'] 'U1:;lH M01:JS3: Ull 10J anp lUI10Wll ::lql Alld Ol spll] 1ElMOliOg pUB 'l:;lA!t!M II Ol lUllnSlnd 'AU:JEllfP SUl:;lH MODS3: Alld Ol PEllll81[qO SJ .!ElMOllOg JI '6 uOfpaS U!' pElsn s~ "lU:::lW:;l:;ll'illl pUll lUllUQAO:J" :::lSllll{d :;ll{l Sll 'lU::JUlnllsuI A]!m:J:::lS S!q1 Uf P:;\U!l1luo:J luoU.!;);).dll pUll lUllU::JAO;) II ::Jq Ol p<1U.!8\Jp ::Jq s<1sodInd IIIl .loJ w:qs sldr<J;J::l.l <lPfi\Uld 8 ' T t~-4 ~ 09lJ:~80 .,"o-=:w:i;j ';.;~-. ,'.;., ~ ." ...... - - - 087;j'lbO .. 79. .L subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification Harrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shaH cover Lender, but might or might not protect Borrower, Borrowcr's cquity in thc Propcrty, or the contents of the Property, against any risk, h;uard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could havt: ublaint:d. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shaH 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 such policies shall be subject to Lender's right to disapprove such 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 fonn of insurance coverage, 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 au 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 appJ-ied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspe;:diun :;hall 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 proceeds, 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 Bon-ower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economIcally feaSible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Bon-ower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Bon-ower does not respond within 30 days to a notice from Lender that the insurance can-ier has offered to settle a claim. then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Bon-ower's rights to any insurance proceeds in an amount not to exr;eed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Bon-ower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall conlinut: tu Ul.;l.;UPY lhe;: Prupt:rly as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's controL 7. Preservation, Maintenance and Protection of the Property; Inspections. Bon-ower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall mai.ntain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to WYOMING . Sillyl", fi:Hllily . 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UOll1?lOlS;lllO 1~lld<l111l111 !> UOlpaS 08T O~~~I~~l~80 " ..... - - - '0873';,(.0 181 pay the premiums required to maintain MOligage 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 termination or until termination is required by Applicable Law., Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity thut purchases the Note) for certain losses it '/lay 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 ugreements with other parties that share or modify their risk, 01 reJul:t: lu:;:;t::;. 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 murtgage 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 attiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the ill surer, the arrangement is often termed "captive reinsurance." Further: (a) Any such a~reements 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 to any refund. (b) Any such agreements will not affect the rights Horrower has . if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance tel"minated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration peliod, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in valuc is cqual to or greater than the amoUnt of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Mi:;l,;t:llaneuu:; Prul:eeu:; multiplied by the following fraction: (a) 111e total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this WYOMING - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMt;N I Form 3051 1/01 q;c-> ,I Laser Forms Inc. (800) 446.3555 . 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Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a wai ver of any right of action Borrower might have arising out of such overcharge_ 15. Notices. All notices given by Borrower or Lender in connection 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 BUITuwt:r'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 BOlTowcr has designated a substitute notice auult:ss by nutict: to Lender. Bon-ower 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 notice 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 BOlTower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction, This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument; (a) words of the masculine gellder shall mt:an and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument 18. Transfer of the Property or a Beneficial Interest in Borrower. 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 interests transfelTed in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer oftitle 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 transfelTed (or if BOlTower is not a natural person and a beneficial interest in Bon-ower is sold or transferred) without Lender's prior written consent, Lender may require immediate 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. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from th~ rlat~ 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 SecuIity Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate Aft~r Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of; (a) five days beforc sale of the Property pursuant to any power of sale contained ill this SCl:urity Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower; (a) pays LCIHlt:r all sums which tht:n would be due under this Security Instrument and the Note as if no acceleration had occulTed; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other tees incurred tor the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Bonower pay such reinstatement sums and expenses in one or more of the following forms, WYOMING . 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IE!l111d II .10 aloN al{,L ';}JUtlA"!.I~.JO ;}J!loN el;}J!A.l;}S Utlo'1 JO ;}~Utll'(:J e"lON JO 31tlS 'OZ: . 81 llOqOQS l::lpUn UO!llllQJ:;lOO1J JO ::lS1JO QIP U! ,.\ldd1J lOU [l1ll(S :ll1JlSU!Ql Olll['B!-l S!lJl 'lOAQMOH 'p::O.lJ11oao pel[ UO!lll.l:lpOOll ou J! Sl1 ::l^!P::lJP A!l11J U!IlWO.l !IEl[s ,(qa.l::lll pamoas suoflu'5![qo puu lU;)lUtUjSUI Al!lnO::lS S!ln '.1QM01108. Aq lU::lUl::lllllSU!al uod[l 'l:lJSU1JJj, spun..:! ,,!UOlP:llg (p) 10 ~AmllQ 10 Al!lElRelUl11lSUf '''\oUQil1J [IlIQpaJ 13 ^q pelnSU! Ql11 Sl!sodap eSOlIM uoqnmSU! Ull uodn UMUlp S1 )[0:Jl(0 Lpns AUt p::lP!AOld '){oal(o S,JafYSllO 10 .'>[oallO S,.1alnS1Jall ':>paqo :>Junq ':>JO::lIJO p::l1J1P<lO (0) ~.I:;lpl0 i\auoUl (q) ~qse;) (e) :.I::lPU::l'I A4. P<JP::lI::lS SE 178 T O~)~.r:~J~O ..... - - - , US'7~i'7bO ~ Q C ,1. U LJ NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. -Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borl'ower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) thc default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the rieht to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Secu.-Ity Instrument without further demand and Hlay invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its deSignee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security - Il1Strument. Borrower shall pay allY rt:l;unlaliull (;O:;l:;. Lender may charge BOITower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. WYOMING . Single Family. 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