HomeMy WebLinkAbout937897
6010816541
ReLurn To:
RECEIVED 3/28/2008 at 4:09 PM
RECEIVING # 937897
BOOK: 690 PAGE: 693
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Bank of the West Post Closing
13S05 California St.
NE-BBP-LL-P
Omaha, ME 68154
PrepiU'ed By:
Donna J Magnuson
13505 California st
Omaha, NE 68154
000693
rSpace Above Tbi. Line For Recording Datal
Stnte of Vlyoming
¡ fHA CII.O ,1o,
MORTGAGE
591-1019919-703
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THIS MORTGAGE ("SeC\lrJty Instnmlent") IS given on March 26, 2009
The Mortgagor IS BRETT A DOVEY and MANDIE bOVEY, HQ'SBAND AND WI1!'E
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("Borrower"), fhis SeclItlty {¡1strument J8 glYcn to Mortgage Electronic RegistratIOn Syst, enlS Inc. ("JVŒRS"),
(solely as nOlIunee lor Lender, M heremafter defined, and Lender's successors and aSS1bTTls), as mortgagee, MERS is
ol'garuzed and existing under the laws of Delaware, and has an address and telepbone nlUllber of' P, 0, Box 2026,
Flint, MI 48501-2026, tel. (888) 679-MERS.Bank of the West, a Californu state banking
corp.
("Lender") is orgaruzed and eXJsung wider the Jaws of The State of California . and
has an addre:;s of13505 California St, NE-BBP-LL~P, omaha, NE 69154
Borrower owes Lender the pnnCJpal ~'Wn of
One Hundred Three Thousand Three Hundred Seventy Seven And Zero/100
Dollars (V,S, $103,377 . 00 ).
This debt IS eVidenced by Borrower's note dated the same date as this SeclU'Ity Instrument ("Notc"), which
provides for monthly pêlymr.nts, with the fu ) debt, If not pmd earlier, due and pa.yable on April 01, 2038
This Secunty Instrument secures to Lender: (a) the rep¡wment of the debt eVIdenced by Lhe
Note, WJth mterest, and all renewals, extemions and modificatIons of the Note; (h) the payment of ¡Ill other sums,
Wllh Interest, advanced under paragraph 7 to protect the sœw'lty of this Secunty Instrument; and (c) the pcrícJlmance
of Borrower's covenants and agreements under this Securtty lnst.nunent and tire Note. For thís pur¡x)S(~, Borrowt~r
does hereby mortgage, grant and convey to MERS (soldy as nommee tor Lender and Lender's slIccessors und
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assIgns) and to tJle successors and assigns of ).V1ER.S wIth powt.'T of sale, the foIlowmg descnbed property locat.ed in
Lincoln CouIlty, Wyommg:
THE WEST HALF OF LOT 5 AND 6 IN BLOCK 53 OF ~HE SECOND ADDITION TO THE CITY OF
KEMMERI!JR, COUNTY F LINCOLN, S'l'A'.1'E OF WYOMING.
"PURCHASE: HONEY"
Parce] m N\lmber: 12-2116-24-2-06-051.00
whích has the address of 416 OPAL STREE:'r
Kemmerer [City , \VYOnlll1g 83101
I Str~~1
[Zip <:,,<1"1 ("Property Address");
TOGETHER WITH all the Improvements now or hereafter erected on t,l1e property, and all (',¡sements,
appurtenances .md fixtures now or hereafter it part of the property. All replacements and additions shall also be
covered by this Security Jnstnul1ent. All of the foregoing IS referred to m this Secunty InstruDll;\nt as the "Property. .'
Borrower understnnds and agrees that MERS holds only legal tItle to the mterests granted by Borrower in this
Secunty Instrument; but, If ne>cessary to compJy with law or custom, MERS, (as nommee for Lender and Lender's
successors and asslgns), has the nght: to exerClse IIDY or aJl of those mterests, mducling, but not limIted to, the nght
to forec.lose and sell the Property; Imd to take any actlOlI requIred of Lender mcluding, but not !inuted to, releasmg or
canceling this Sectlnty Instnutlent.
BORROWER COVENA.:"ITS that Borrower IS lawfully seIzed of the estate hereby conveyed and has the nght to
mortgage, grant and convey the Property and that. the Pmperty IS unenc\mlbered, except for encwnbranccs of record,
Borrower warrants and WII.l defend generally the title to the Property agamst all claims and demunds, subject to !lny
encunlbranees of record.
THIS SECURITY INSTRUMENT combines wllform covenants for natIOnal use and non-umform coven¡U1ts
With limIted vanatlOns bY,JurlsdictlOn to constitute llW11form secunty Instrument covermg real property,
Borrower and Lemler covenant and agree as follows:
UNIFORM COVENANTS.
1. Payment of Principal, Intcre.~t and Late Chlll'g<,. Borrower shall pay when d11e the pnnclpa] oC and
mterest on, the debt eVIdenced by the Note find lute chargcs due under Ihe Note.
2. Monthly PnYlnt'lIt or Tuxes, Insurance :1IIcI Ot.hor Charge,~. Borrower shall Include 111 e.ach monthly
payment, togeUJer WIUI the pnnc.lpal and interest as set forth In the Note ¡Uld any late charges, a StUll for (n) «¡xes and
specml a.~scssments levIed OJ' to he Jevled agalllst tl1e Property. (b) Ie.asehold payments or ¡¡round rents on the
Property, and (c) prelTll\lms for ll1SUTance req1lJred Iwder paragraph 4. In any year 111 which Ihe Lendcr must p~y a
mortgage Insurance premnnl1 to U1~' Secretary or HouSlllg ancl IJrban Development ('·Sccn:t¡üy"). or In any year 10
which such prcnlllUTI would h,IVC been req1lJrcd if Lender stIll held the Secunty Instrument, each monthly payment
shaH also mc.lude elthcr: (i) a sum JèJr the annual mortgage IIlSUTimce preIl'UIU11 to be paid by l,(;nder to Ù1C Secretary.
or (Ü) a monthly charge IIIstead of a mortgage UlSl1I"anc.c premnuTI I r ù1is Sec.\1Tlty InSU'ulI1cnt IS held by the Socrcwry,
In a J'~sollable amount to be deternnned by the Seçretary. Except for t.he monùl.Iy charge by Ùle Sec.reulry, these
Items are called "Escrow Items" and tbe SUlllS paId to Lender are c,aJled "Escrow Funds, "
Lender may, at any tune, co)]eet and hold amounts tor Eserow Items 10 an aggregate amount not to exc.eed the
maxlmun1 amount that may be reqmred for Borrower's escrow account lUlder the Real Estate Settlement Procedures
Act of 1974, 12 D.S.C. Secl.1on 2601 ef. seq. and ImplementlOg reg1ùa.tlons, 24 CPR ParI. 3500, as they may be
amend(.'(\ !Tom tune to tIme ("RESPA"), except that the cushion or reserve perl11ltted by RESPA for \mantlclpated
disb\lrsements or clisbursemeuts before the Borrower's pay1nenL5 are avmlable m the accoun.t may not be based on
amounts due for the mortgage ItIsurance prell1llffil.
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If the amount.s held by Lender for Esc.row Items exceed the amounts penrutted to be held by RESP A. Lender
shall a('cmu]t. 10 Borrower for the excess 1\lI1d8 ¡IS reqUIred by IUiSP A. If the amounts of funds held by Lender at any
t.lme are not. sunìclent to pay Ù]e Escrow Items when due, Lencler may nollfy t})(, ßorrowt.'T and reqUIre Borrower to
make up the short8,ge as penmtted by RESPA,
The Escrow FIU1ds are pledged as additioTlü1 sec,unty for dll sums secured by this Secunty Instrument. II'
Borrower tenders t.o Lender the i'tlll payment of aJl slIc,h sums, Borrower's ¡¡ccount shall be credited WIth the balance
rem¡unmg for all inSlallment. Items (a), (b), and (c) and any mortgage II1surance prerlllUI11 Installmenl Ùl¡Ü Lender has
not become obligated to pay to the Secretary, and Lender shall promptly renmd any excess funds to &rrowcr.
Immediately pnor t.o a fi) "e~.losure sale of the Property or Its acquisition by Lender, Borrower's account shall be
credited wIth any balance remammg for all jnstallments for Items (a), (b), and (c).
3. AppJlcation ofPn~'ments. All payments under paragraphs] and 2 shall be applied by Lender as follows:
EÍI§1, to the mortgage mSl¡rance prenuum to be paid by Lender to the Secretary or to the monthly charge by the
Secretary Instead of the monthly mortgage U1Suraœe prern!l)TTI;
Second, to any taxes, specHt! assessments, leasehold payments or ground rents, and fire, Hood and OU1CI hazard
msunmce prelruwrls, as rcqlured;
IhiJ:.çl, to I11tere8t due under the No te;
Fourth. to amor[¡zatlOn of the pnnclp!l1 of the Note; and
Fifth, to late charges due under the Note.
4. Fire, Flood and Other Hazard IlIsUnlllte. Borrower shall insure all improvements on the Property, whether
now III eXistence or subsequently erected, agamst any hazards, casualties, and contingenc,les, IIlcluding fire, for which
Lender requires IOs\lrance. This msw'ancc shaH be mamtamed m U1C amoulJt~ and for t.he pcnods that Lender
reql11res. Borrower shall also msure all improvements on the Property, whether now U1 eXistence or subseq\lently
erected, agamst loss by floods to the extent required by the Secretary, All inS\lnmCe shall be camed wIth compames
approved by Lender. The lTlsurance policies and any renewals shall be held by Lender and shall include loss payable
clauses.¡n favor of, and in a form accwtable to, Leuder.
In the event of Joss, Borrower shallg¡l'e Lender Immediate notice by mall. Lender may milke proof of loss I r not
made promptly by Borrower, Bad! }surancc company concerned is hereby aulhoTll.ed and dirocted to make paymenl
for such loss directly 1.0 Lender, lTIstead M t.o Borrower and to Lender ,omlly. /\.11 Or any part of ¡he lTIsunmce
proceeds may be applied by Lender, at lls optIOn, either (a) to ù]e rt'Ó\!cl.1un of the II1debtcc!ilcss under the Note and
1his SeclU'lty InstJun1ent, tìrsl to any delinquent amounts applied in the ordi:r In paragraph 3, and Ùlen Lo prepayment
of pnnClpal, or (b) to the restoration or rep,ur of the damaged Propert.y. Any applicatIOn of the proceeds 1.0 the
pIlnclpaJ shall not extend or postponc Ù1C due date of the manù]ly payments which ¡u'e referred, to In paragraph 2, or
change t.he amount of such pa:vments. Any excess lI1sur¡ll1ee proceeds over an anl0\Ult reqll1re¡j to pay all outstanding
I11debt.edness under the Note and U1is SecurIty Instrtll1lent shall he paId to the entity legally entitled thereto.
In Ule event of Ioredosure of this Secunty Imtlllment or other transfer of title to the Property that extll1!,.'1J1shes
the Indebtedness, all nght, title and llIterest of Borrower m and 1.0 msurlltlce policlCs m force shall pass to the
purchaser.
5. Occupancy, Preservution, Maintenance anrJ Protection of the Property; .Borrower's Loan A))plicotioll;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's prmclpaJ rCSHlencc within sIxty
days after the execution of this Security InsU'lUnent (or wlÙ1in sixty days of II later sale or transfer of Ù1C Property)
and shall continue to occupy the Property as Borrower's pnnclpaJ re~ldence for at least one year after the daLe of
occupancy, Ul1less Lender determmes that reqlllrement. w111 cause undue hardship tor Borrower, or unless ext(''TlUatmg
Clrcumst:mces eXIst which are beyond Borrower's control. Borrower shall notify Lender of any extermatmg
clrcun1.~tances. Borrower shall not commIt Waste or dcstroy, damage or substantially change tbe Properly or allow the
Property to deterIOrate. reasonable wear and tear excepted. Lender may InSpect the Property If the I'roperty IS vac,U1t
or abandoned or the loan IS 111 default.. Lender may take reasonable ¡)tltlOn to protect and preserve sueh vacant or
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abandoned Prope-Ity. Borrower shall also be 111 defmllt If Borrower, durmg the loan applicatIon process. guve
matenaUy false or Inaccurate mfonnation or statements to Lender (or failed to provide l.ender with any materia]
mfonnatlOu) III c,onnectio.n Wl!11 Ù1e loan eVidenced by the Note, mcluding, but not. I¡rruted to, representat.lOns
concenung Borrower'!: occupancy of the Property as a pIlnclpal resIdence. If this Secunty Instrument IS on a
leasehold, Borrower shall comply wlth the provisions of the lease. If Borrower acqllìres fee t.¡tIe to tbe Property, the
leasehold and fee title shaU not be merged unless Lender agrees to the merger U) writing.
6. Condemnation. The proceeds of any award or cJalll1 for dnlllages, direct or consequential, III connectIOn with
any condemnation or oÚlcr taking of any part of the Property, or tor conveyance In plae,!;) of condemnatIon, arc
hereby assigned and shaIl be paId to Lender 1.0 the extent of the full amO\IDt of the Inclebtedness th.lt re.l11ams unpa¡d
under the Note aIld tlus SeC\1flt}' Instrument. Lender shall apply such proceeds to the rOO\1ctlon of the mc!ebtedncsâ
under the Note and this Secmlty Instrument, tìIst to any delinquent amount$ ~lpplie.d tn the order provIded m
paragraph 3, a.nd then to prepa)oment ofprlllClpal. Any app]icauon of the proceeds to the pnnc¡pal shall not. ext.end or
postpone the due date of the monthly payments, which are referred to JI1 paragraph 2, or chémge tbe amount of such
payment.s, Any excess proceeds ovcr an ummmt requJred to pay all OUL~t.1ndjng lTIdebtedness under UJe Note and this
Secunty [nstrlIDlent shaH be pa.¡d to the entlt.y legally entitled thereto,
7. Charges to BOrJ"ower and Protection of Lender's Rights in the I'I-operty, Borrower shaJ] pay all
government.al Or mun¡c1pal charges. tines and impo~Jtjons Ulat are not Included in paragraph 2. Borrowcr shall pay
!bese obligations on tIme directJy to Ihe entIty which IS owed the paymenl. If failure to PHY would adversely affect
Lender's lIIterest 111 t.he Property. npon Lender's request Borrower Sh~111 promptly furnIsh llJ Lender receIpts
eVldencJJ1g these paìme!lt~,
If BOTTower fails to make these payment.~ or the payments reqlured by paragraph 2, or Ihils 1.0 perform ,my other
covenants and agreements cont.amed in this Se~\.Inty Instrument, or there IS a legaJ proceeding that may slgJlJlicantly
a.ffect Lender's nghts m the Property (~'Uch as' ¡¡ proceeding m bankruptcy, It)r condenma!.1on or to enforce lé)wS or
reglùat.lODS), Ù1en Lender may do and pay whatever is necessary to protect !be vallIe of the ProperlY and Lender's
rights m the Propert.y, Including payment of taxe,~, luv..ard insurance and Otl1e1' Items rnentlOncd in paragraph 2,
Any amounts disbursed by Lender under Ibis paragraph shall become an additional debt of Borrower and be
secured by this Securltl' Instrument. These amounts shall bear mterest from the date of disbursement. at the Note
rate, and at the OptlOn of Lender, shall be immediately due and payable,
Borrower shall promptly discharge ¡my Hen which has prionty over this Secunty Instrument l.mJess Borrower:
(a) agrees In writing to the payment of the obligation secllTed by Ù1e lien 1Il a manner acceptab]e t.o Lender; (b)
contests III good thith the lien by. or defends against enforcement of tbe líen Ill, legal proceedings which III Ule
Lender's opul1on operate to preVe1lt the enforcement of Ù1e lien: or (c) secures ûom Ù1e holder of Ule lien ¡U)
agreement sa.!lsfactory to Lender subordinat.mg the lien to this Secunty Instrument. If Lender detennmes t/"mt any part
of the Property 1S subject to a lien which may aUam pnonty over this Secunty Instrwllent, Lender may gIve
Borrower a notice ldentlfying the lien. Borrower sball sahsf)' the lien 01' t.ake one or more of the actions set forth
above within 10 days of the gIVing of notice.
8. Fees. Lender may collect fees !U1d charges aut.honzed by the Secretal·y.
9. Grounds rot AcceJer~tion IIt'Debt,
(II) Deff/ult. Lender may, except as JÌ11lJted by regu\¡¡lJons Issued by the Secret<ll')', In the ~.ase of payment
detàuJts, reqUire Im¡J1l~diate payment. in full of nil surn.~ secured by this Security IJJSlrurnent If;
(i) Borrower delimits by fi¡jling t.o pay 111 full any rnonÙ1Jy p<1yment reqwred by this Se,.unty Inst.rLlment
pTlor to or on the due date of the next monthly paY1l1t:nt., or
(ii) Borrower defauHs by ¡¡¡¡ling. for a pe ' od of lhiny days, 1.0 p¡:r!ì)rl1l any oÙler obligilllons conlilllled
111 this SectlrIt)' Instrument.
(b) Slll~ Without Ct'edit Appl'ov¡¡1. Lender shall, If pernutted by appIicable law (incJlIdjng SectJOn 341(d)
of the Gam-St. Germalll Depo.~ltory InsllltltlOns Act of J 91\2,12 '(J, S. C. 1701j-3(d) and wlt.h the pnor
approvaJ of the Secret¡¡ry, reqUJre Immediate p,lymenlm j\111 of aU stuns secured by ù]is Secun ty InstrlUncnl
If;
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(i) A ] 01' part of the Property, 01' a bClltJl1cHlJ int.ere,~t In a t.rust ownmg all or part of the Property, IS sold
or otherwise transferred (other tlwn by devIse or dcs~:eJlt), aJJd
(ii) The Property IS not OCCUPIed by tilC purchaser or grantee ¡IS his or hcr principal residence, o[ the
purchaser or grantee does so ocÇ,upy tilC Property but his or her credit has nm been approved 111
accordance Wlth the reqUIrements of Ùle .secretary,
(c.) No Waiver. If CU"cumstcmces occur that would permJt Lender t.o rcqmre lIlunediate payment in full, but
Lender docs not reqUire such payments. l.cnder does not waive Its rJghts with respect to subseqllf,ml evenls.
(d) Regulations of fl'UD Secrehwy. In lJJany CIrcumstances regulatIOns issued by the Secretary WI ] J¡nut
Lender's fights, In tile case of payment defalJJts, to reqUire milllediate payment m full and foreclose If no!
p¡ud. This Secunty Instnunent does not. ßuthonze ac,c,el<:ration or foredosure If not pemutted by regulations
of the Secretary.
(e) Mort.gage Not Insured. Borrower agrees that if this Secunty Instrument and the Note are not deternumxl
to be eliglble for Insurance under the Natlonal }Iousmg Act wIthin 60 da.ys !tom the date hereot~ Lender
may, at its optton, req\ure I1Jlmediate payment III full of all sums secured by this Secunty Instrument. A
wnt.ten statement of any authonzed agellt of the Secretary dated subsequent to 60 days ITom the date hereof,
declining to Il1sure this Sec\1l"lty Inst.rument and the Note, shall be deemed conclusIve proof of such
mellg¡bility. Notwithstanding the foregomg, this optJOn may not be exerCll;ed by Lender when Ùle
unavaIlability of insurance IS solely d\le to Lender'li failure to rerrllt a mortgage Insurancc preJJuum to the
Secrewry,
10. Reinstatement. Borrower has a nght to be remstated if Lender has reqU1red Jmmediate payment In full
because of Borrower's tilHtlre to pay an aInOl.mt due under Ule Note or this SecuJ'lty Instrument. This fight applies
even after forec]osure prœeedings are lIlstJt~lted. To remstate tile SecurIty InstnU1lcnt, Borrower shall t.ender In iI
lump smn all anlounts reqUIred to br1lJg Borrower's accOlmt ClU"rent mc]uding, to the extent tiley ¡u'e obligations of
Borrower under tIlis Security Inst.rument, tòreclosure costs ¡md reasonable and customary attorneys' fees and expenses
properly assoc¡¡¡,1.ed wlt.h t.he foreclosme proceeding. Dpon reinstatement. by Borrower, tJùs SeC\lrity Instrument and
the obJigatloJls that It secures ,~b¡ll1 remam HI effect as If Lender bad not requIred Immediat.e paYTIlent ill full.
However, Lender IS not. requJn~d to pemut remst1tcment If: (i) Lender has accepted remst<lternent alter the
conilllcnccmcnt of forec!os\U·c proœedings within two years Immediately pn..'Ccding the c.ommenecment. of a ç.um.:m
foreclosure proc,eeding, (ij) remstatemcnt wIll predudc ÌJreclo.~ure on di fft:rent bl]'olmds f the future, or (ij¡)
remstatemelJt will adversely aftèet t.he JrlOflty of the lien crCj~ted by this SCC-l1nt.y I1lstrl1T1lell1.
11, ßorl'owcr Not Releascò; Forbearance By Lendcr Not II WflÎycr. ExtensIOn of the tllne of payment. or
mocliticatJon of lUl101ttZa1:IOIJ of the sums seemed by this Secunt)' Inslrument g.rantt'() by Lend",r to any successor 111
Il1terest of Borrowcr shaH not operate to rele<1.~e the liability or tlw ongmul Borrower or Borrower's successor III
mterest. Lender 6ha.ll not be requU"txl to commence proceedings agatnst any successor In Interc.~t or refuse to extend
tune for payment or oùlerwlse modify amortlza.tion of the sums secured by ù1Ìs Secuflty hlstrument by reason of Any
demand made by the ongma] Borrower or Borrower's successors In lIlt.erest. Any forbearance by Lender m ex.emsing
any nght. or remedy shull not be a waIver of or prechlde the exerCise of any nght or remedy.
12. Successors nnd Assigns Bound; Joint and Severn) Linbility; Co-Signers. The covenants and agreements
of t.hi.s Sec\U·Ity hlstrument shall bind atld benefit the SlJCcessors and asslgrls of Lender aIld Borrower, subJect to the
provIsions of paragraph 9(b). Borrower's covenants aIld agreements shull be Joint and several. Any Borrower who
CO-SJgns this SecuJ'lty Instnunent but does not execute the Note: (a) IS CIHJgnmg ù1Ís Secunty Instrument only to
mortgage, grant and convey that Borrower's Interest In the Property under the terms of this St.'cul'lty Instrument; (b)
IS not personally obligated to pay the sums s!J(:ured by Ùlis Securlty Instnul1ent; and (c) agr,ees Ùlaf Lender and any
other Borrower may agree to extend, modH)'. tòrbear or make any accommodations wltb regard t.o the terms of tbis
See\lnty Instrument or the Note wIthout that Borrower's c.onscnt.
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13. Notices. Any notICe 1.0 Borrower provided for IJ1 ù1Ìs Security Instnlment shalJ be given by delivenng It or
by maIling It by first class mall unless applicable law reqtures use of Imother method. The notIce shall be directed to
the Property Aùdres..~ 01' any other addre.~s Borrower desIgnates by notice t.o Lender. Any notIce to Lender shall be
given by I:ìrst class mall to Lender's address stated herem or 1U1Y address Lend.er desIgnates by notice to Borrower.
Any notice provIded for UI tllis Secunty IJ1strunlellt shaJl be deemed to have been gIVen to Borrower or Lender when
gIVen as provided in this paragraph.
14. Governing Law; Sevcrability. This Seeunty lnslrwllent. sh¡¡1l be governed by Federal law and the law of
the JUl1sdictwn In which the Property IS located, In the event that any prOVision or clause of this Secw·¡ty Instrument
or 11le Not.e conflicts wl111 applicable law, such conflict shall not affect oUJer provisions of tJùs Secuflty Instrument or
tJle Note which c~n be gIVen effect wIthout the conflicting provision. To this end the pJOYlsions of lhis Se<:,uIIty
Instrument and the Note are declared to be severable.
15. Borrower's Copy. Borrower shall be gIven one oonform(:d copy of the Note and of tllis Secunty
Instrument.
16. Hazardous Subst¡mces. Borrower shall not cause or permIt the presence, use, disposal. storage, or release
of any Hazardous Substances on or IJ:1 the Property. Borrower shall not do, nor allow anyone else. to do, anythjng
affectmg the Property tlll1t is 111 Vlo]atlon of any EnvlJ'(mmcntal Law, The preceding twO sentences shall not apply t.o
the presence, use, or storage on Ule Property of small quantIties of Hazardous Subswnces thi1t are generaJJy
reeo1,.'1uzed to be appropnate to norm,,1 resIdential uses and 1.0 mall1tenancc of \he Propert.y.
Borrower SlulJl promptly give Lender wntlen notice of j)ny II1Ye.~tlgatJOn, clmm. d(;,mand, lawsmt or oùlcr actIon
by any governmental or regulatory agency or pm'at.e party IJ1volvl11g tbe Property and MY l-l¡lzardous Subó>t<Jnce or
Environmental Law or whic·h Borrower has act.ual knowleclge, If Borrower learns. or IS notl fleù by ,my !!.(wernment.¡¡]
or reguJatory authorIty, that any removal or other remediation of any Hazardous Substances affecting the Property IS
necessary. Borrower shal] promptly t,lke all n<x:cssary remediall1cllOnS In Hçcordanc.e WIÙl Environmental Law,
As u&ed 111 this paragraph 16, "Hazardolls Substances" are those SUbStiU1Ces defined as .I.oxlc or hazardous
substances by BnvJronmenwl Law and tlH;\ tb!Jowmg s~lbstances: gasoJine, kerosene, other flammable or tOXI(:
petroJeum products, tOXIC pesticJ(les and herbicIde;;, volatIle solvents, rnatena.Js contammg asbestos or formaldehyde,
and mdíollctlve matenals. As used in this paragraph 16, "EnVITonmental Law" means fede¡-al laws ,lid laws of the
)lU1Sdíctlon where the Propel'ty IS located that relate to heal th, saJety (Jr envIronmental protection.
NON-UNŒORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Assignment Qf Rellts. Borrower unconditionalJy assIgns and transfers to Lender all the rents and revenues
of the Property. Borrower a:uthom.es L!;:rlder or Lender's agents to collect Ule rents and revenues and hereby directs
e¡¡,ch tenant of the Property to pay lhe rents to Lender or Lender's agents. However, pJ'Jor to Lender's notIce to
Borrower of Borrower's breach of any covenant or agreement In tlle SeclltJty Instrument, Borrower shalJ collect and
receIve all rents and revem¡es of tlle Property as Ir\lstee for the benet1t of Lender Md Borrower. This MSIgl1ment of
rents constitutes an absolute asslgrunent and not an assIgnment for additional sectu-Jty only.
If Lender grvcs notice of breach to Borrower: (8) all rents receIved by Borrower shalJ be held by Borrower as
trustee for benefit of under only, to be applied to the sWns secured by the Security Instnunent: (b) Lender shall be
entitled to collect and rec,erve al] of the rCl1ts of the Property; imd (c) each tenant of the Property shall pay all rents
due and unpmd to Lender or Lender's agent on Lender's wntten dema.nd to tJle t.enant.
Borrower has not executed any prwr assIgnment of the rents IInd has not and WII! not perform any act Ulal IVo'.tld
prevent Lender from exefCIsing Its nghts under this paragmph 17,
Lender shaH not be requued to enter \lpon, t.ake control of or ¡Jlamla [} the Property before or after glvlllg notice
of breach to Borrower. However, Lender or a )ucliclally appolnt.ed recClver may do so al <my tIme there Ii! a breach,
Any application of rents shall not cure or walvc any default or IIJvalidate any (¡Ùler right OJ remedy of Lender. This
asslglmlcnt of rents of the Property shall termmm,e when tJlC deb!. seclu-ed by the Seçurll.y J.nstmment IS pmd in IÌlII,
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18. li'oreclosure Procedure, If Lender rcclulres immediat.e payment in full under patilgrAph 9, Lendel' may
involte the power of sale and IIny other remedies pel'lnltted by IIpplieable hr\'\'. Lender shnll he entitled to collect
1111 expenses Incurred III pursuing the remedies pr'ovided in this plln)graph 18, including, bill. not. limit.ed to,
reasonAble attorne;l's' fees and costs of title ei'iden ce.
lt' Lender invokc,~ the powel' of 1;:Ile, Lendcr shllll give notice of int.cnt to foreclose to BUl'I'owcr and to t.he,
persoll in posse,~síon of the Property, if different., ill ac,cordallce with opplicable law. Lcnder shnlJ give notice of
the .~I\le to Horrower in the manner provided in wragraph' 13. Lender ShAll publish t.he notice of sllle, And the
Propcrty shall be sold in the mannel" IJn\~crihcd by Appllcahle law. Lender or Its (Ic.~ignee ml\)' Jul'chll.çe t.he
Property at IIn~' sale. The pl"oceed,ç of the snle shall be applied in the following order: (II) to nil expenses of !,he
sale, Including, but not limited to. 'easonabJe aUllrneys' fees; (I» to all sUlns ,~ecureèl by tl1i,~ SecllrH.y
Instrument; !Ind (c) nil)' eXceSN to the person 01' persons legally ent.ìtled to it.
If the Le,lIder's Intel'est in this Security Instnunen! is heJel by the SecretaI')' IInd the Secretary relJuircs
Imll1ediute ¡ulyment In full under I'nragraph 9, the Secretary mllY Invoke the nonjudicial !Jower of sllle
provided in the Single l~amlJy Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.c. 3751 et ,rer¡,) by rl!l]lIcsting
a foreelosure cOll1lllissioncr designated lindeI' the Act to commence fureclosure IInd to sell the Property 11.~
provided in tbe Act. Nothing in the preceding ,çentence sball deprive the SecretAry of any l'ights othcrwise
nvailllble to 11 Lender ullder tbis ParagrlllJh 18 or applieahle III"'.
19. Relea61!. Upon p~Y¡l1cnt of all sums seemed by t.his Secunt.y úlstrnrnent, Lender shall release Ihis Secunty
Instrunient wIthout charge to Borrower. Borrower shall pay any recoJ'datlOn costs.
20. Wl1ivers. Borrower Waives all nghts of homestead eX(1mptlOn rn the Property and relinquIshes all nghts of
curtesy and dower III tbe Property.
21. Riders to thb Seçurlty IlIstl'Umellt. If one or more mlcrs are executed by Borrowe.r ¡md recorded together
wIlli this Secmlty Illstnunent, the covemU1ts of each such rtder shaH be Incorporated mto and shall amend and
supplement the covenants and a.greemcnts of Ibis Secunty Instrument ¡¡S If llic nder(s) were a part of lliis Seemlty
InstrlJment. [Check appJicahle hOX(eR) ,
D Condol11JIllum Rider
D Planned Urn! Development Rider
o Growmg EqUIty Rider
o Gradu<lI,ed Payment Rider
o Other [Specl!)']
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BY SIGNING BELOW, Borrower ac,cepts nhd agrees to Ulè terms contamed in this Security Instrument and in
any nc1er(s) executed by Börrowcr and recorded WIth It.
Witnesses:
(Seal)
-Borrower
_________._(SeaJ)
~Borrowcl·
_4_.._._.
(Seal)
-Borrower
8800393335
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BRETT A DOVEY
1.(Yl(,( D 0 lilA-j." ''\
MANDIE DOVEY J
(Seal)
-Borrower
(Seal)
-13orrowor
(Seal)
--_......~..
-l3<Jrrowor
__ (Seal)
~Bf)rmw"r
(Seal)
-Borrower
Paga ð of 9
8800393335
STATE OF 'WYOMING. Lincoln
The íòregomg lJlstrument was acknowledged beíòre me this March 26 ( 2008
by BRETT J\. DOVEY and MANDIE DOV.E:Y
(..Ov701.
County ss:
My COmnllSSIOII Expires: ¿J02Þ6 Þ()//
ø~~
N()IMY Public
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