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Home My WebLink About940337 RECEIVED 7/7/2008 at 12:25 PM RECEIVING # 940337 BOOK: 699 PAGE: 293 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ('00293 This instrument was prepared by: Sterlinc Nadonal Monaale Co. Ine. 98 CuUermlU Road, s.lte ZGON Great Neck, NEW YORK'U021 516-487~OI8 , : . ?J) Return To: Stel'lhlg Natioul Mortpp Co.lue. 98 CuUermiD Road, Butte 200N Great Nick, NEW YORK n021 (Spøc;e Above ThII Une For RecorUlng DQ) ¡ "\ MORTGAGE I FHA Case Number: 611-10228161 Shlte ofWyomlDg MIN:100320300400027674 THIS MORTGAGE (''Security Instrument") is given on February 25, 1008. The Mortgagor is Rhett Blair Hard aDd ShaDoa May Hanl Hlllbaacl aad WiI'e as Teoaøts By The Endre~ ("Borrower"). This Security Instrument is $Ìven to Mortgage EledroDIe RelJlstndoo Syste_, Inc. ("MERS"), (solely as nominee for Lender, as heIeiDafter defined, and Lender's succe&8Ors and 1ISSÌgD8), as mortgagœ. MERS is orgBIIized and axisting WIder the laws of Delaware, anll has an address and telephone number of P.O. Box 2026, FIla.. MI 48501-2026, tel. (888) 679-MERS. Sterling NaUooal Mol1pp,Co.lIIe., a CorporaUOa, ("Lender'1 is organized and CIIdsting ùnderthe laws of New York, and has an addms of98 CuUermW Road, Suite 2OON, Great Neck, NEW YORK non Bon-ower owes Lender the principal sum of ONE HUNDRED SEVENTY-SEVEN THOUSAND SIX HUNDRED TWEN'IY-FIVE aDd ,Dwloo Dollars (U.S. $17'1,6í5.00). This debt is evidenced by Borrower's noœ dated the same date as this Security Ins1rwnent ("Note"), which provides for monthly payments, with the full debt, if not paid eerIier, due and payable on Mardi 1, 1038. This Security Instrument seçureS to Lender: (a> the repayment of the debt evidenced by the Note, with interest. and all renewals, extensions and modifications of the Note; (b) the payment of all other smns, with in1erest, advanced W1dor paragraph 7 to protect the sec:urily of this Sec¡u;ty lnsIrumeot; and (c) the perfonnanœ ofBOlTOWer's covenants and qreemenIs WIder this Security InsIIument and the Nòte. For this purpose, Botrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's suœe&SOI'S and assIgns) and to the successors and assigns of MERS with power of sale, the following described property located in LiIIcolll County, Wyomin¡: .~ See AUllched Eùlblt "Air Parcel ID Number: which hils tho ad~ of ~ . - 4!JO AUbun Type KiI Aubvn, WYOMING 83Ul ("Property Address"); TOGETHER WßH all the bnprovtlÓeots now or héÍ'eafter ei'eded on the property, and an easements, IIfJPUIÙIÌIIIIl and fixtures now or hereafter a ¡i8rt of the property. 'AlI replaoemenls and addItiOl!8 shall also be COVCII'IXI by this Security Instnmu:nt. All of the forogoing is roferred to in tIús 8ecurity lristrument as the ''Property." BOlTOWer under8Iands and ilgrees that MERS bolda only legal title to the interesIs gnmted by BOlTOwer in this Security Instrwneot; but, If nece8Slll)' to comply with laws or custom. MBRS, (as nominee fur Lender and Lender'. suc:ceiiors IIIld assl8ns), hIS the riøht: to exercise any or all of those interests. includlnø. but not limited. to, the risbt to foreclose and sell the Property; and to take sny don required of Lender including, but not limited to, roleasÌll or canceling this ·Security 1nsIrument. "... . FHA~Ina~wIth IIIEftS·...... VMP>4N(WY)(0609) .,' Am~2I01 . P8ge 1 of 8 InIIaII: .~' . . 4 .~..'~\:t.:f". " , üo'~ 294 .". BORROWER COVENANfS that Borrower is lawfully seized of the eøtato hereby conveyed and has tho right to mortgago, nIDi and convey the Property and that tho Property is unencwnbored, except fur encumbranœs of record. Bonvwer warrants and win defend generally 1ho title to the Property against aU claims and demand.s, subject to any CIIICIII11bnmces of record, THIS SBCUlUTY INS'IRuMENT combines uniform covenants for national use and non-unifolUl COvaJlllll8 with limited variations by jurisdiction 10 constitute a uniform security instrument covering reaJ property. Borrower and l&nder covenant and a¡¡reo as fon~: UN1FORM COVENANTS. 1. hymeat of PrID." ¡Dtenst, aDd lAte qua.,... Borrower shaD pay when duo the princip~ of; and interest on, .tho debt evidencoQ by the Note and 11lle c.hørgcs d\ie under tho Nóta: . . " , .... 2. MoIIdlly hymcat DC Tues, IlIIUl'IU1ce and OtIKi*- Cbaqes. Bonow'er shaD Include in each monthly payment, togllther with the principal and intereat as SlIt furth in the Note and anY late cherges, a sum fur (a) taxes and speçialllSllll8rnenl8 levied or to be levied against the P\'opertÿ, (b) leasehold paymelÌts or ground feÒIs on the Property, and (c) premiwns fur Insunuice required under paragraph 4. In any Year in which the Lender must pay a mort¡jage insurance premium" to 'the Secretary of Houiing and Urban Development ("SecreI8Iy''), or in any y_ in whic:.h such premium would have been required if Lender still held tho SecurIty Instrument, each monthly payment shall also include either: (i) a sum for the amual mortpge insurance premium to be paid by Leader to the SecrehBY, or (iI) a monthly charge instead of a mort¡a¡e Ì1I8III1IIICII premium if this Security Instrument is held by the SIIQ'dary, in a reasooable IIII10IIDt 10 be dellm1ined by the 5ecreIary. Except for the monthly charge by the Sec:reIary, these Items are called "Escrow Items" and the sums paid to Lendet are called "Bacrow Funds. " Lender may, lit any time, collect and hold amounts for Esc:row Items in an aggregate amount not to exceed the maximum amount that may be required for Borrower's esc:row 1CX101D1t under the Real EsIIIIe SeItIement Procodures Aet of1974, 12 US.C. SectIon 2601 BI m¡. and implementing regulations, 24 CPR Part 3500, as they may be amended from time to time ("RESPA"), except that the cushion or reserve pennitted by RESP A for unanticipated disbunements or di8lMnements before the Borro\ver's payment& are avaiJable in the açcount may not be besod on amounts duo for the mortgage inIurmco premium. If the amounts held by Lender for Escrow Items oxceed the 8II1OIIIl1I permitted to be held by RESP A. Lender shaD account to Borrower for the excess funds as required by RESP A If'the amounts of funds held by Lender at any time are not sufficient to pay the Esc:row Items when duo, Lender may notifY the Borrower and requiro Borrower to make up the sbor1aøo as permitted by RESPA. The Escrow FunØs are pledged as additIoœI security for aIllIDDI secured by this Security InstrumenlJrBorrower tenders to Lender the fW] payment of all such SIDDS, Borrower's ICX10lDIt shall be credited with the balance remaining for all insœ1Iment Items (a), (b), and (c) and any mortgage Insurimœ premium' instillment that Lender has not becomo obligated to pay to the SecreI8ry, and Lender sba1I promptly retùnd any OXC08S""tùnds to Borrower. Immediately prior 10 . forCIcIosure sale of the Property or ita acquisition by Lender, Borrower's I!ÇCOUI1t sòall be credited with any beIanco reniaining for all in8laUments for Items (a), (b), and (c). 3. Application ofPayaåeDlI. All payments under peraj¡raphs I and 2 shall be applied by Lender as follows: Eirst, to tJie mortgage iDsurance prelnlum to be paid by Lender to the Secretæy'or to the monthly charge by the Secretæy instead of the monthly mortgage Insurance premium;" S.er.œd, to any taxœ, 5pOCIaI assessments, leasehold payments or ground rents, and fire, flood arid other hazard insurance premiumø, as~ire~ . JJúrd, to intlnst due W1der the Noœ; Em.u:th, to amortizatlOÍ1 of the principal of tho Note; and Eifth, to IIIIe charges dYe under the Note. 4. FIn, F1ood' and Other HazanllD!al'llnce. Borrowa' sba1I insure aU ~ents on the Properly, whether now in existence or subsequently erected, against any baz1¡rds, casualties, I\l1d comingencics, iDc1uding fire, for which LeJ:Jder requires ~. This insuranço.sha1I be maintained in the amounts and for the periods that Lender requires. Borrower shall also Insure aU improvements on the Property, whetbee' IIQW in"mçIstence or 8!lbsequently ~ qainst 10ss by floodS to the extent required by the ~. All insunmce shall be œrrIed wlth.companies approved by Lender. The !nsInnce policies and any renowuls shall be held by Lender and shall include loss payable clauses In 1àvor of, and in a form acceptable to, Lender. In the event of.loss, Borrower shaD give Lender immediate nodce by Dlllil. Lender may mw proof of 1058 if not made promptly by Borrower. EId1 insurance compeli)' concerned is hereb)I: authorized and directed to make payment for such loss directly \q Lender, instead of to Borrower and to Lender jointly. Allor any part oftAe insunmce procoeds may be applied by Lender; at its option, either (a) to the reduction of the indebtedness under the NoIe and this ~ InsInIment, tint to any delinquent amounts applied In the order in parBgl1lph 3, and then to prepayment of principal, or (b). to the restoration or repair of the damaged Properly. ÑrY application of the Inn.~~ VMP-4N(WY) (0509) P8 2 018 ..;,. ;:t\.... ,.¡- . ( 00295 ._~--- proceeds to. the principal shall nat extend or postpane the due date af the monthly payments which life relaTed to In JIIIf88I1IPb 2, or change the amaunt af IIIWh paymenIs. AIry œœess inslU'lllJœ proœeds over an amount required to pay all outsl8lJding indebCedoess under the Note and this Security Instnunent shall.be paid to the entity legally entitled thereto. . . In the event affOrei:losure afthis Sei:uiity lns1ruinenf'ar other transrc¡. aftitle 10 the Property that extinguishes the indebtedness, all . right, title and Jntercst af BOITOwa' in and to insuraneepolieles In force 8ball pass to the purahas«. 5. OccupUcy; Praemtioa, MÙllleoaoce aad ProteeCioJl o.f the Prvper1y; Borrower's Loa. Application; Leasc*o.lds. Borrower shall occupy, establish, and USe the Property as Borrower's principal residence within sixty days after the executlan af this Security Instrument. (or within sixty days af a later ~e or transfer of the Property) and shall continue 10 oeeupy the Property as BomJwer's princJpBI residence fur at 1_ one year after Ìhe date of cx:cupancy, unless Lender determines that requirement will cause undue hlll'dship for' Borro~, ar unless ~uating c~ exist which life beyond BoÒower's '~l. Borrower shall notify Lender af any extenuating cirCum.stanc;"s, Borrower s"811: not commit waste or descroy, damage or substantially chango tho Property ar allow the Property. to deteriorate, re88Qllllb1e wear and te.r IIXCOpted. Lender'~ inspect the Property if tho Property is vacant or abandoned ar thë loan is. in ilefiwlL Lehder may _. reasonable action to pro1ect and preserve such vRClll1t Or abmdoned Property. Borrowa' shall also .be In de1åult if Borrpwer, during th; loan application ~ gave materially fàI,e or ÌDIIcçuratc informatian ar sIateIneots 10 Lender (or fililed 10 provide Lender with aÌIy maIerial inforotation) In connection with the loan evidenced by the Note, including, but not limited to, re¡nsentations com:anlng Borrower'a occupancy of the Property as a prInoJpBI residcnge, If this Security Instrument Is on a leasehold, Borrower 8ball comply with the provisions o.f the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agm:sto themergør in writing. 6. CODdenulatlon. The proceeds of any award or claim far damages, direct or consequential, in connection with any condemnation or other taking of any part afthe Property, or fur conveyance in place af condemnation, are hereby assigned and shall be peid 10 Lender 10 the extImt Dftha fuIIamouot Dfthe indebtedness that remains WIpIid under the Nate and this SecurIty Instrument. Lender sbaIl apply such Proceeds 10 the reduction of the indebtedness wdur the Nate and this Security Instnunent, first 10 any delinquent amounts applied in the order provided in paragraph 3, and then to. prepayment Dfprincipal. Any application of the proceeds to. the principtù shall not EIKteod or postpone the duo date afthe monthly payments, which.1Ife referred to. in paragraph 2, or change the 8D1OIUIt af such paymenl3. Any excess proceeds over an amount required to pay all 0II1Standing indebtedness under tho Note IIIId this Security Instnunent shall be paid 10 the entity legally entitled thereto. 7. Charps to Bol'l'01ftr.and ProteetioD of Lender's Rights fa "e Property. Borrower shall pay all governmeotal or m\DÙcipaI dwges, fines and ~Itions that life not included in, paragraph 2. BDrrower sbaIl pay these abligations on time directly to the entity which is owed the payinent. If fi¡jlure to pay would adversely affect Lender's interest in the Property, upon I.,ender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. , If BDrrower fàiIs to make these payments or the payments required by paragraph 2, or &ils to peiform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding.that may sIgnifiœntIy affect Lender's rights ill the Property (such as a proçeI;dipg In bBnkruw:>-, fur condemnation or to enforce Jaws or regulations), then Lender may do. and I"'y whatever Is neeessuy 10 protect tI!e value af the Property and Lender's rights in the Property, Including payment of taxes, hazard insuranÐe and other items mentioned in parwaph 2. Any amounts disbursed by Lender weier this paragraph shall become an additiOnal debt of Borrower and be secured by this SocurI1:y 1nstNment. Theøo amounts shall bear interest Iì'om the (ate of disbursement, at the NQIe rate, and at the optjOll of Lender, sbaII be immediately dµe and payable. . BOffOWer shall promptly discharge any lien which has priority over thi~ Security Instrument unless Borrower. (a) agrees in writing 10 the payment of the obligation' secured by the lien in a marmer acceptable to Lender; (b) contests in good mith the lien by, ar defends against enforcement af the lien in, legal þroeeedings whiCh in the Lender's opinion ÓIeI'at\I tapreveut the enfurœment Df the lien; or (c) secures ftom the halder'afthe lien an agreement satlsfi1ctory to Lender subordinating the lien to this Security Instrument. If Lender delermines that anY part af the Property Is subject to a lien which may attain priority aver this SecurIty Instrwncnt, Lender may give Borrower a notìÐe identifying the lien. BOffOWer shall satisfy the lien or take ane or more afthe actians set forth above withJn 10 days of the giving af notice. . . 8. F-. Lender.may collect fees and charges authorized by the~. 9. Groaacls for Acceleration of Debt. .(a) Dl6alt. Lender may, except as limited by. reguladOJll issued by the Seemary, in the ease of payment defiluJts, require immediate payment in ~ afall swns secured by·.this Security Instrument If . (i) Borrower· defiwlla by tàiling to I"'y in full any monthly payment required by this Security Instrument prior 10 or on the duo date atthe next monthly payment, or, VMP04N(WY) (0509) Pøge3of6 l~a~r2J- .~..._: <L COC'296 (ii) Borrower døfiwlts by failing. for a pDriod of thirty days, to perfOJUl any other obligatiOll8 lJODtained in this Security InatnuncmL (b) S.~ WlthoutCndlt ÀiJproVIL Lender'shaII, if pcnnit1ed by 'applicablo law (inoluding Soction 341(d) of tho Oam-Sl OonnflinDepos!lDly liastitutions A<:t of 1982, 12 U.S.C. 1701j-3(d) and with tho prior approva1 of tho SocntIry. roc¡uire inµnediale payment in fì¡J1 of all SUIIIS IIeC:UI'ed by this Security Instrwna!t if. (i) All or part of tho Property. or a benefiçial Interest In a IrUSt owning all or part of thO Propcrtý. is sold or othawise trIIisfçrred (other than by devise or dc&cont): and . : . (ii) The Property is not occupied by tho puÍçhasor or grantee as his or her prlnoipal roaidCJ1Óo, or the purchaser Or gnuú1ee does so oi:óupy iho Property but his or bel' cndit has not' beoa approved In accon:Ian<:c. with tho ~ents of tho SecrcImy.' . (0) No Waiver. If cïfc:unmances occur that woUld porO¡lt LCnder 10 m¡uire Immedi~ pllylllOIÌt In full, but Lender does not roqulnÍ such paymontll, Lender does not waive its rights with respect to subsequent events. (d) RegulaClou of BUD Secretary. In mmy clniumstsnc:es regu1ations issued by the Secretary will limit Lender's rights, in the caso of payment defiw1ts, to roquire immediato paymClllt in tùU and furec10sc if not paid. This Security InsIrumant does not autborize åccolenltion' or furccloSUl'8 if not permitted by reguiltions of the Secmary, (.) Moripp Not 1Dnnd. BOJrowet a¡teeS ihai if this Security InstrumeÒt and the Nolo are not determined to be oligiblo for insur8nco uncIfII' the National Housing Act within 60 days fi'om tho date hereof; Lender may, at its option, require immedìato payment in fun of all sums secured by this Security Jnstrument. A wriUen statement of any authorized agent of the Secrebuy dated subsequent to 60 days fìœt the date hereof; declining to insure this Security Instrument and the Noto, sba11 be deemed oonclusive proof of such ineligibility, Notwiths1mxllng the furegoing. this option may not be oxon:ised by Lender when the unavailability of insurance is solely duo to Lender's tàilure to remit a mortgage ÌDSW'III1Oe premium to the Secretary. 10. ~temnt. BOJrowef has a right to be rcinstatod if Lender has required immedìlllo payment Ù1 tùU because of Borrower's fàilure to pay an amount duo under thei Note or this Security InsIrumenL This 'right applies even after foreolOSUl'D proceedings are instituted, To rØJstate the Security Instrument, Borrower sha11 tender in a lump ømn all amounts roquired to ~ Borrower's account CIBTGI1t including, to tho oxtont they are obligations of BOI1'OWer under this Security Instrument. forccJosur\ c:osts and I'OI8OII8bIo and customary attomoys' fèe$ and expenses pI'!)JICI'Iy assoeJåted with tho foreclœuro prciceeding. Upon roinsl8tanent by Borrowa-. this Security InstnIIJIClllt Iiad the obligations that it sewres slialll'lllllllÌD in efrec:t as If Lender had not required immediate payment in tùII. HOWl7Ver, Lender is not required 10 pemiit reinstatoment if:' (i) Lender haS accepted reinst8tauClllt after tho oommencanent offoreolosuro proccediDøs within two yeurs immediately preçe<llng the commem:ement of'a çurrcnt foreclOBW'C proceeding. (ii) reins1atement will proçludo foreclœuro on difforont groùnds Ù1 the firture, or (Iii) rolnstateineot will adversely aftèct the priority of the lien created by this Security Instrument. ' ' 11. Bol'l'OWer Not Qe~d; Forbearance By Lender Not a Waiver. Extonsion oc"tho timo of payment or modification of amortization of tho sums secured by this Security Instrument granted by Lender to any successor in intcn8t of Borrower sha11 not opmte to roIoaso tho liability of tho original Borrowor or BOJrowers successor Ù1 interost. Lender shall not be required to commtIDCO proceedings against any successor Ù1 Interest or ret\¡se. to extond limo for payment or othOlWlse modify amortization of the sums secured by this Security Instrument by reason of any demand mado by thè original Borrower or Borrower's SIICCOSIIOI1 in Ù11erest. Any forbearance by Lender in exc:rcl~g any right or remedy shall not be a wa~ of or preclude the exeroiao of any right or remedy. 11. S.œes.on and AIsIÌøs Bound; Joint and Several U.bWtr, Co-SJpen. Tho coVonanta and agroemen18 of this Security Instrument shall bind and lIoneftt the. sui:eesson and' asSigns of Lender 111<\ Bœrower, subjoct to tho provisions of paragraph 9(b). BOJrower's covenants and "8greeII1eots sha11 be joint and severaL Any Borrower who CD-øi¡ns this' Security Instrument but does not OXCOUIo tho Nolo: (aj is oo-slgnlng this seCurity InstnllJleot only to II1Olf¡8ge, grant and convey that BOirÒwar's Intèrost in the Proporty under the tenn8 of this Secùrity Instrument; (b) Is not personal1y obligated to pay the sums secured by·this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extond, moditÿ, forbeør or make any accommodations with regard to the torm.s of this Socwity InSCr\Ølont or !he Note without !hat I!.onower's consent. 13. Notleel. ~ noiice to BOITOwor'provide!i for in this Security Instrument shall be given'þy delivering it or by mailing it by first class mail unJoss applicablo law roquires use of lIlOther method. The notice shall be directed to tho Property Address or any other address Borrow:er designatos by notices to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated h~1n or any address Lender deslgDateŠ· by notices to BOrrower. Any notltc provided fur in this Security Instrument sha11 be deemed to havo been given to Bonower or Lender ~ ;glVen as proylded In thlspiragrapb. 14. GOvel1llnl· Ltlw; StverablJIty: .This Soc:ur:it)I. InsIrument shall be governed by Fedcnllaw and the law of the jwisdiction In which tho Property is located. In the event that any provision or clauso of this Security Instriunent or the Note conflicts with applicable VMP-4N(WY) (OGOII) PIIe 4 016 InllBliI: ~ " " C OC'297 -..-~---~....-......~ ------.- law, such contlict shall not affect other provisions of this Security Insltumeot !II' the Note which çan be given effect without the cont1icting provision. To thiø end the proyisions oCthis Security Instrument tmd the Note era declared to be severable. 15. Borrower's Cop,.. Borrower shall be given one conConned copy of1be NoIiI and of this Security lnstnuDeot. Ui. Hazardoas SubstIIBCeS. BOI1'OWw shall not cause or permit the pre.sam:e; use, disposal, storBge, or teJeese of any Hazardous Substances on or in the Property. Borrower shall not do, nor a11øw myonc else to 00; any1bing afIèctIng the Property that is In violltloo of any Enviromnenl8i Law. The preœding two seoteoccs sh811 not apply 10 the prœC¡nœ. use, or sIor8p' (II !be Property of smaI1 qum1Ïti1 . ofHIIZ1U'dous Substances thøt· are generally recognized in be appropiate to nonna1 residential uses and 10 III8ÌDteDIIIII: of the Property. Borrower shall prmnptly give Lender writœu notIœ of any investJption, claim, demand, lawsuit or oCher Idion by any govetoø1ental or regullItoIy agency or priv.œ party involving the Property tmd any Hazardous Substance or Environmen1al Law of wbid1 Bonower has actual knowledge. If BorrOwer 1eaÌ118,'or is notified by any' governmental or regulatory autbority, Ihat my mnovaI or oCher remediation of any Hazardous Substanœ affectJng the Property is n~, Borrower sbalI promptly lake all necessary mnedial. actions ÌIl.accordanœ with EnviromnemalLaw. '. . .:- As used in thispmgraph 16, "Haz&rdous~" era those subánI:es defined as toxic or haørdous substanoes by Environmental Law ~ fhcj following substances: psolÜ)ê, kerosene, other flammable oi- toxic petroleum I'OCIuc:Is, toxic pesticides and herbicides, volatile solveò1S, JJII\1I'jals containing asbestos or funoaldehyde, 8Dd "radioactive materials. As used in this p1II1IgI1Iph 16, "Environmental Law.' means federal laws and laws of the jurisdiction where tho Property is 10œted that relate to health, safety or environmental protection. NON-UNIFORM COVENANTS. Borrower and Londer further covenant and agree as follows: 17. Aaipmeat of Rents. BOI1'Ower uncond!tlonaDy assigns tmd Crlmsfers to LCIIIder all the rents and revenues of the Property. Bonowe!' authorizes Lender or Lender's agents 10 coDect the rents and tavenues and henby directs each tenant of the Property to PlY the rents to Lender or Lender's agl!l1lS. However, prior to Lender's notice to. Bonower of Borrower's breach of any coveoant or agmmeot in the Security Instrument, Bonvwer shall collect and receIW all rent.II and revenues of the Property as trusIee for the benefit òf Lender and Borrower: This assignment oCrents constitutes an absolutellSSigmnent and not an assignment for additional seourity ODIy. . If Lender gives notice .of breach to Bonvwer: (a) all rents receiVlld by Borrower sIJa1I be hold by Borrower as tnIStee for benefit of Lender only, to be applied to the sums secured by the Security lnstnuDent; (b) Lender shall be entitled to coßect and nx:eive all of1l1e rents of the Property; and (c) each tenant of the Property shall PlY all rents due and unpllid to Lender or Lender's agent on Lender's written demand to the tmant. Bmrower has not executed any prior assignment of the rents and has Dot and will not perfonn any act that would prevent Lender fi'om exercising j¡ righIs under this peragraph 17. . . Lender shaII not be reqùired to enter upon, take conIiol of or maintain the Property before or after giving notice of bmch to BOIrOwer. Howevar, Lender or ajudícially appointed receiver maY do so at any timè then: is a breach. Any application ofrents shall not cure or waive any dofàu1t or invalidate any other right or remedy ofLendcr. 'Ibis assignment ofrents of the Property shall tenninate when the debt scoured by the Secwity lnstnuDent Is paid in full. . . 18. Foredcsqrè Procedure. If Leader requires ~edtate JIIIymeat iD run allder pll'llpllpII 9, Leader ....a,. IIIvoJœ the power of sale and any other remedies permitted by appUcable law. Lender shaD be entitled to ~ aU e~ses iDeurred III PUI1IIin¡ tile remedies pl'OvJded iD t....Jlllrapsp. 18, indudlng, þut not limited to, reuønable atturney.s'fea aDd eo.Å8 oftltJe evlde.ace. If LeJlder iDvokes the -power ohlle, Lellder sbaU give notice ofiDtent to IbreeIose to'Borrower an.d to the penon iD IOISeSÅOn of the Property, If dJlI'orent, In leœrdlnce with applkable law. Lender .sball ¡pv. notice of the sale to BOlT01nlr III the man.er provided III paragrapb 13. Lellder slaalI publish the notice of sale, .Dd tile Property" 1..0 be IOId III the _DDer prescribed by applicable law. Leader odts desipee may purchase tbe Property at any ole. ne pniceecls of the ole sbaD be applied In the folJowlne order: (a) to aD ÐpeIISII of the sale, IndndÙlg, bat not limited to, _Dable attorneys' h; (b) to aO IUIIIS secured by tbls Securlt)' IlIIÚ'IImut; ud (c) any excess to tile pe.... or penous leplly utltlld to It. If tile Lender's IDteres. In tills Secarity lnatra_c Is Íleld by tile Secntaryll1ld the Secntary requires Immediate paymmt ID fDO uader Paragrapb 9, the Secntary may IDvoke t.e aOaJDd1e1a1 power of sale provided ID the SiBgIe 11'_'1)' Mortp. Foreclosu.re Act of 1994 ("Act") (12 U.S.c. 3751 et 6flq.) by requesting a foredoll1ll'l eollUlllssloaer desigDated aader the Act to . commence Ibreclosare and to sell the Property as provided III the Act. Notblag ID the p.-llD¡ _teaee sltan deprive the Secretary ofaDY rights otberwlse anUable to a Leader. UDder this Pal'llgraph 1~ or applicable law. 19. Release. Upon pa)<DIent of all sums secured by this Security Instrument, Lender sbalI release 1I1is Security Ins1rument without cJuu'¡e to Borrower. Borrower sball pay I¡1Y rccordatioll cç~. VMP"'N(WY (0509) . Page5of6 lnæa~ .:.. (,00298 20. W.lven. borrower waives all right of homesteed exemption in the Property and relinquishes all rights of eurlesy and dower in the Property. 21. RIden to this Security lastnmeat. If ono or more riders are axecuh!d by Borrower and recorded togel/lor with 1his Sec:urity Instnønent, the covenants of each such rider shall be . Incorporated into and shall amend and supplement the covenants and agreements of 1his Security INtrument as· if the rider(s) W\II'O a ~ of this Security Instrument. (Chock !.IJIP1ic:able box(es». o Qmdominiwn Rider .. 0 Oradualed Payment RIder 0 Alljustablo Rate Rider , o Plæned Unit Development Rider 0 Growing Equity Rider . 0 Other:' BY SIGNING BELOW, Boxrowor accepts and agreeø:to the temJs contained in this Security Instrument and in any ridc:l(s) exocuted by Borrower and recorded with it. Witnesses: " ß~~7~.- Rhett Blair Hurd (Seal) -Borrower ~ rl'cuA~"bnd (SoO' -Borrower STATE OF WYOMING, L ¡'n~D (~7 C08Dtyllll: The foregoing instnnnont ~ acknowledged bofore me this ..d..5:... day of -Fe)!) /f'({I(l V' } ,. . .:::v:\1 'i) by Rhea Blair Hurd, and Sblnnl MIY H8rd. . WiInosø my hand and official~1. ~ ro q :~:::; ~;..~~~ Q&~P~~{~ ~y~mln_g 1 ,.",....- My Commission Explr... 1/' / / - .,(iJI/X ~~ VMP-4N(WY (0508) Page 8018 Form No. 1068-2 ALTA Plain Language Commitment Commitment No.: 8022-9096 Escrow No.: Page Number: 5 (, OC'299 Real property in the City of Auburn, County of Lincoln, State of Wyoming, described as follows: Beginning at a point that is 123.75 feet West of the South East corner of Block 21, Auburn Town Site, Lincoln County, Wyoming. Thence North 629 feet thence West 30 feet, thence North 231 feet, thence West to the North West corner of Lot 1, Block 21, thence South 660 feet to the South West corner of Lot 4, Block 21, thence East.to point of beginning. APN: 12-3219-04-3-03-014.00 and 12-3219-04-2-09-041.00 , , United General Title Insurance Company