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HomeMy WebLinkAbout940442 JU I ::J LUU/j I L; II t'IJlII/ULL After Recording Return To: ~c Mortgage, LLC 4405 E COTTON CENTER BLVD Phoenix, AZ 85040 ATTN: sandi McAr;thu:t' RECEIVED 7/11/2008 at 9:26 AM RECEIVING # 940442 BOOK: 699 PAGE: 621 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ~ O~621. {Spgce Above ThII Line For Racordinc DIICII] Lolln No, 107320000 MIN 1000375-0187328000-4 MORTGAGE DEFINITIONS Words used in multiple sections of this docwnent are defined below and other words Ire defmed in Sections 3, II, ]3, ]8, 20 and 21. Certain rules regarding tho usago of words moo in this document are'also provided in Section ]6. (A) "Security Inltrument" means this documont, whicb i$ dated July 10, 2008 ,tQgether with all Riders to this document. , (B) "Borrower" is PAULETTE KROM, a married woman as her sole and sepÃ~ate property and ALEXANDRA M SWEATT, a married woman as her sole and separate ,property,_ Borrower i$ the mortgagor under tms Security'Instrument. (C) ''MERS'' is Mortgage Electronic Registration Systems, Inc. MERS is Ìl' separate cOJPoration that is acting $olely as a nominee for Lender and Lender's sucCessors and assigns. MERS is the mortgagee under thll Security Instrumont. MERS is orgønized and existing under the laws of Delaware, and has an address and telephone number of P. O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMING - sinato Flllrily - F...... MaalF..... MIlO , UNIFORM INIiTRUMBNJ' J'ol'lll:Nllil JIOl ~ (Pnelll of l,j 426287273 Inltfgl.ø: ... ~- GMACM' - CM8.0042. WY (0001) 346 J\~ (D) ''Lender'' is GMAC Mortgage, LLC f/k/a GMAC Mortgage Corporation \.. 0(,622. organized BDd existing under the Lender's BCldress is Lenderisa limited liability comp~ny laws of Delaware 1100 Virginia Drive, Fort Waahington, FA 19034 (I) ''Note'' means the promissory note signed by Borrower and dated July 10, 2008 . The Note states that Borrower owes Lender One aundred Thoua~nd and 00/100 Dollars (U. S. $ 100, 000 . 00 ) plus interest. Borrower has promised to pay this debt in regulor Periodio Payments and to pay the debt in full not later.than August 1, 2038 (F) ''Property'' means the property that is described below under the heading "Transfer of Rights in the Property. " (G) ''LofUl'' 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. (H) "Riden" means Bll Riders to this Seourity Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable):· D D D Adjustable Rate Rider Balloon Rider Other(s) [specify] D Çondomi~ium Rider 0 D Biweekly Payment Rid.er D Œ&I Planned Unit Developmc;nt Rider Seoond Home Rider I ~4 Family Rider (I) "Applicable Law" moans all oontfQUing applicable federal. state and local statutes.. regulations. ordinances and administrative roles and orders (that bave tbe effeot of law) as well os all· applicable finBl, non "appealable judicial opinions. (J) "Community Alloclatlon Duel, Feu, and Alle,sment." means all dues. fees, assessmen,s and other charges that are imposed on Borrower or the Property by 11 condominiwn association, homeowners association or similar organization. (K) "Electronic Fund. Transfer" means any transfer Qf funds, other than a transaction originated by check, draft, or $iroilat' paper. instrument, which is initiated through BIl eleotronio terminal, teiephonic instrUment, computer, or magn¡::tic tape so as to order, instruct. or authorize a financial institution to debit Qr credit IU1 account. . Such term includes. but is not limited to. point-of-sale trlmsfers, lIutomated teller maohine tran8llotions, transfers initiated by telephone, wire tnnsfers, Ilijd automated clearinghouse transfers. (L) "Elerow Items" means those items that are described in Section 3.' (M) "Mlscellaneoù. Proceedl" moans any compensation. $0ti1øment, aWlU'd of damages, Or procecds paid by any third party (other thBIl insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking 'of fill or any part of the Property; (iií) oonveyance in lieu of condemnBtion; or (ív) misrepresentations of, or orirlssìons as to, the value and/or condition of the Property. ' WYOMING _ lin le FtInIly- PIIrInI~ MQll/l'lød.IitI MIIDUNrFORM IN~Rl,IMmfI' ,_ ~'" 1101 ~ ~. GMACM - CI\f8.004:Z.WY (0001) (Pass') of /8) JultlRÞ;-- )\5 JUI ~ LUU/j IZ;] I t'1I11.1/ULL -..:OC623 (N) ''Mortg.ge IQ uranc~" means in~unuu;e protecting Lender against the nonpayment of, or default on, the Loan. (0) "'Periodic Payment" me~ns the regularly soheduled amount due for (i) principal and interest under th~ Note, plus (ii) any amounts under Section 3 of this Security InstrUment. (P) ''RESPA~' means the Rea) Estl\.tç S~t1ement .Procedures Act (12 U. S. C. §2601 et seq,) and its itnplcmanting regUlation. I Regulation X (24 C.P.R. Part 3500), as they nùght be /upended from time to time, or ønyf~additional or successor legislation or regulati.on that governs the same lilribject mutter. A.$ u d in this Security Instrument, PRESPA" refers to all requirements .and restriotions' that e imposed in regard to ß "federally reI'ated mortgage loan" even if the Loan does not qualifY 8~ a "federally related mortgage loan" under RESPA. (Q) "Sueee8lor in Interest o,f Borrower" means any party that has taken tith') to the Ptoperty, whether or not that part bas assumed Borrower' 5 obligations Wlder the Note and/or this Security Instrument. . TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures t Lender: (í) the repayment of the Loan, and all renewals, extensions and modification9 of th Notø; and (ii) the perfonnanoe of Borrower's covenants and agreements Wlðer this Security I strument Bnd the Note. For this purpose, Borrower does hereby mortgage, grant and conv to MERS (solely os nominee for Lender and Lender's successors and IUJsigns) and to th successors and assigns of MERS. with power of salo, the following described propørty Jocat I in thø County 1Pll (If Rewl1UPg .Jllfl&ctlefløn) of Lincoln ( Dine of R~ordlnø Jurisdiction] SEE SCHEDULE "An AT ~CFiED HERETO AND MADE A PART. HEREOF. which currently hBS the Bddress of ' 293 Alta Drive, (S{f'ØlltJ Star Valley ~ancb. ,Wyoming 83127 ("Property Address"): [City] [ZlpCorkJ TOGETHER WITH a11 th improvements now or høreaftcr erected on the property, and aU casements, appurtenances, lW fixt'Ure%$ now or herenfter f.I part of the prQperty. All rop]a(¡ømcnt~ and addition iii man l~o be ¡;;overed by' tbis Security Instrument. All of the foregoing is referred to in this Se~rity Instrument as the "Property. n Borrower understands and agrees thBt MERS holds only legal title to the interests granted by BOITower in this Security Instrument, but, if necessary to co ply with law or custom, MERS (as nominee for Lender IU1d Lend(U"' ~ $ucceæors Bnd assigns) has the right: to exercise any or all of those interests, including, but not limited to, the ri bt to foreclose and selt the Property; and to take any action required of Lender including,' b t not limited to, releasing and canceling this Sçe¡ndty Instrument. . WYOMING ~ Sillll]; Jlamily - JlMI1i~ MD~Jlr~c DD UNIFORM INSTkUMIiN'r f'wm:l1W ,IIDJ d ~ GMACM· CMS,004Z.WY (0001) (Page J of /8) . InltlR"'IL:..:::~ ~5 \..0(,624 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the .right to mortgage, grant and oonv~ the Property and that the Property is unenoumbered, except for encumbrances' of record. Borrower warrants and will defend generally tbo title to tbe Property against ·BlI olaims and demands, subject to any encwnbranccs of record, THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform oovenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Eacrow Item., Prepayment Charß"" and LRte Charge.. Botrower shall pøy wben 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 sholl also pay funds for Escrow ItemS pursuant to Section.), PftYment:il due under the Note and this Security Instrument shall be made in U, S. currency. However, if any obeak or other instrument received by Lender I1S payment under tbe Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent pByments due under the Note and this Security Instrument be mBde in one or more of the following fonns, as selected by Lender: .(a) cash; (b) money order; (c) certified check, bank check, treasurer' B check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, or entity~ or (d) Electronic Funds Transfer. Payments are deemed received by Lender when reoeived at the location designated in the No.te·or at such other location 8S may be desißDated by Lender in accordance with the notice provisions in Section 15. Lendðl" may return any payment Of pmial pl!)'ment if tbe pR)'ment or partial payments are insuffioient to bring' the Loan ourrent. Lender may BCCept any pByment or partiai payment insufficien.t to bring the Loan current, without waiver of any rightshereundcr or prejudice to its rights to refuse, sucb paym<mt or partial pftYments in the future, but Lender is not obligated. to apply :such payment5 at the time such payments are accepted. If each Periodic Payment is applied liS 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 Borrower docs not do so within a. reasonable pß1'iod of time, Lender shall either apply $\lch fund$ Of return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balBllce under the Note immediately prior to foreclosure. No offset or clllim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instruroent OT péfforming the covenants and agreements secured' by this Seourity Instrument. 2. Appliçation of Payments or Proceeds. Except as otherwise described in this Seotion 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 duo.uuder the Note; (c) IUßO\mtll due under Section 3. Suoh payments shall be applied to each Periodic PByment in the order in which it became due. Any remaining amounts' shall be applied fIrst to late charges, second to any other amounts due under this Security Inatrument, and then tc reduce the principal balance of the . Note. LOAN NO: 187328000 wYOMJNC - SifV i; PlIII1Ìly - Pm; MDclPRddle MIIG UNIPOl\M INSTl\UMIiNT Farm MI 1111 ,:IV? ~, GMACM . CMS,0Il43. wY (01)01) (P"8/J <I of J 8) InItlAlsl /""'-' . )\5 JUI ~ ZUUU lZ;ll PIIII'1/ULL \. O~625 If Lender recoives' a payment from Borrower for a delinquent Feriodio payøont which includes II sufficient amount to pay any late chargo due, the pøyment may be applied to the delinquent payment IU1d the latc 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 e1Ccess existsftÍter the payment is applied to the full payment of one or more Pøriodic 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 Nate. ' A1ly application of payments, insurance proceeds, or Miscellaneous Proceeds to prißcipal due under the Note shall not extend or postponð the dUI!) date, or change the amount, of the Periodio Payments. 3. Fundi for Escrow, Item.. Borrower shall pay to Lender on the day Periodic Payments ME.! due under the Note, until the Note is paid in full, a sum (the IIFundst') to provide for payment of amounts due for: (a) taxes and assessments and otbor items which cm attain priority over this Security Instrument as a lion or oI1C1.UJ1bnmce on the Property; (b) leBsehold payments or ground rents on tho Property, if any; (0) premiums for any and all insurance required by Lender under Section 5; BIld Cd) Mortgage Ìnsurance premiums, if any, or any aums payable by Borrower to Lender in lieu' of the payment of Mortgage Insurance prlmliums in accordance with the provisions of Section 10. These items are caned "Escrow Items." At origination or at any ûmo during the tenn of the Loan, Lender may' require that CommwÜty Association Dues, Fees and Assessmepts, if BIlY, be escrowed by Borrower, and auch dues. f~e$, and li$sessment:¡: shall be an Escrow Item. Borrower .shall promptly futnish to Lender all notices of amounts to be paid under· this' Soction. Borrower shall PB)' Lender the Funds for Escrow Items. unless Lender wllives Borrower' Ii oblìgation to pay the Funds for any or aU E$CfoW Item$. Lender may waive BOITower' s obligation to pay to Lender Fund$ for my or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such WBiver, Borrower shall pay directly, when and where pllYllblè, the amounts due for BIlY Escrow Items for which payrnent of Funds has been wllived by Lender BIld, ìf Lender requires, shall furnish to Lender receipts evidencing suoh payment within such time period BS Lender may require. Borrower's obligation to make such.payments and to provide receipts shall for all purposes be deemed to be II covenant BIld agreement contained in this Security Instrument, 8S the phrase "COveÞlU1t and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to PBY the lµI1ount due for an Escrow Item, Lender may exercise its rights under Seotion 9 and pay such amount and Borrower shall moo be obligated under Section 9 to. repay to Lender any suoh amQunt. Lender may revoke the w&ûver as to any or all Escrow Items at any time by a notice given in Bccordance with Section 15 and, upon such revocation. Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. ., Lendc:r may, at any, time. collect and hold Funds in an amount (a) sufficient to permi.t Lender to apply the Funds at the time specified under RESP A, 8Dd (b) not to exceed the ms."imum amount. a lender can require undor RESPA. Lender shall estimate the amount of Funds due on tho basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicllble Law. LOAN NO: 187328000 WYOMING - SIngIu I'umily - Punnia "'I 8!Fr.ddi, MPD UNIPOlUtllNmUMBNT hnn JØ51 JlUI GMACM ~ CM8.0042.'WY (OOQ1) (Pag, S of 18) lnitlnbl ~¿: JD \.0(.626 The Funds shall be held in an institution whose deposits are insured by a federal agency. in$trumentality, or entity (including Lender, if Londer is an institution whose deposits are 50 insured) or in any Federal Home LOIm Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under IŒsr A. Lender shull not charge Borrower for holding and applying the F\U1ds. annually anulyzing the escrow account, or vorifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law pemùts Lender to make such a charge. Unless an agreement is wilde in writing or Applicable Law requires interest to be paid on the Funds, Lender $hull not be 'required to pay Borrower any interest or earnings on th : Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender :mBll give to Borrower, without charge, an annual accounting of the Funda as required by RESP A. . If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the exceBS funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESP A, and Borr.ower shall pay to Lender the amount neceasary to make up the shortage in accordlUJcf¡J with RESP A, but in no more than ] 2 monthly payments. If thoro is It deticiency of FU1)ds held in escrow, as defined under RESP A, Lender shall notify Bor.rowW' as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the defioiency in accordance with RESP A, but in no more th~n 12 monthly payments. Upon payment .in full of all sums sooured by this Seourity Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. . 4. Chargeø; Llenl. Borrower shall pay all ta"e9, USO$$ffiontsi, charges, fines, and impositions attributable to the Property which can Itttain priority over this SeoUlity Instrument, leasehold payments or ground rents on the Property. if any ~ IInd Community Association Dues, Fees, and Assessments. if any. To the extent that these items I1re Escrow Items, Borrower shall pay them in the mannør provided in Section 3. . Borrower sbali promptly disoharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to thepaymcnt of the obligation "cured by the lien in a mlUU\Of acceptablo to Lender, but only so long liS Borrower is performing such asreement; (b) oontests the lien in' good' faith by, or defends against enforcement of the lion in, legal proceedínøs which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until suoh proceedings are concluded; or (c) secures from the holder of the lien an Bgreement BBtisfactory to Lender subordinating the lien to this Seourity Instrument. If Lender determines that any part of the Property is subject. to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the l~en (If take one or more of the IWtions set forth above in this Section 4. Lender may require Borrower to pay a one"time charge for a real estate tax vedfiçation and/or reporting service used by Lender in connection with this Loan. . 5. Property In.arance. Borrower shall keop thø improvements now existing or hereafter erected on the Property ins\U'ßd against 10" by flTe, hazards included within the term "extended coverage," and any other hazards including, but not Umitèd to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the ~o\mts wYOMING - $iJWc FQJIIÎly - lømlc MlcNrcddio Mac UNII'ORM INrrRUMBNT 11'0.,.3091 1/01 ../ þ' GMACM - CM8.004Z.WY (0001) (Pl'igd (jQ{ 18) xm~AI,; /~ "^- . 1\5 JUI ~ lUU~ ll;ll fJl II I (/ua \..O~627 (including deductible levels) and for the periods that Lender req'Q-ires. Wbat Løn.der req'Q-ires pursuant to the preceding sentencca can change during the term of the Lom. The insurmce carrier pro'\'i'ding the insurance sholl be ohosen by BolTOwer subject to Lender's right to disapprove BOlTower's choice, which right shall not be exercised unreaSonably. Lender may require BOlTower to pay, in connection with this Loan, either: ea) a one-time charge for flood zone determination, ,certification and tracking SEUYices; or (b) a one-time oharge for flood zone determination and certification $( (Vices and subsequent oharges eBoh time remappings or similar changes occur which reasonably might affect suoh detennination or certification. Borrower shall IIbo be responsible for the pByment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any fl()od zone detenninøtion resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance cover¡lge, at Lender' 9 option and Borrower' $: eKpense. Lender is under no obligation lo purchase any partioul!1f type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk. hazard or liability and might provide greater or lesser coverage thlln was previously in effect. Borrower acknowledges that the cost of the insurance covorøge so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any QIßounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear intarest at the Note rate from the date ,of disbursement and shall be payable, with such intor~$t, upon notice from Lender to Borrower requesting payment. All inSUflUlce policies required by Lender and renewals of suoh polioies shall be subject to Lender's right to diøapprove Noh polioies; shall include a standard mortgaøe clause,and shan 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 reoeipts of 'paid premiums and renewal notices. If Borrower obtains any fann of insuranoe coverBge, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include 'a standard mortgage clause and sholl name Lender 8S mortgagee and/or as an IIdditiona1 loss payee. In the event of loss, Borrower shall givo pr9mpt notioe to the insurance cmier and Lender. Lender may make proof of loss jf not made promptly by BOlT9wer. Unless Lender and Borrower OthØrwi90 agree in writing, any insuranoe 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 economically feasible and Lender's security is not lessened. During such replÙr and restoration period, Lender shall have the right to hold such insurance prooeeds until Lender has had an opportunity to inspect such Property to ensuro the :work ha$ been completed to Lender's satisfaction, provided that sucil 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 agreomcmt is mwe in writing or Applìcable Law requires intéreit to be paid on such insuranceprt;Jceed5, Lender 'shall not be required to pay Borrower any interø9t or ~lU11ings on such proceeds. Fees for public Bdjusters, LOAN NO: 187328000 WYOMING ~ 1!1n ¡18 Family - FIlllllÍß MIIIIIFtlldli. M.. UNIPOItM INIõl'Jl.UMIINT Yona 3051 1/01 ~ ~. GMACM - CM8.0042.WY (0001) (PClgfJ 7 Df JlJ) , IniUaJsl'-- i\s \.0(..628 or other. third parties, retained by BotTower shall not' be paid out of the insurance proceeds and shall be the sole oblìgation of Borrower. If the restoration or repair is not economically feasibl~ or Lender' 8 security would be lessened, tho insurançe 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 insurance proceeds shall be applìed in the order provided for in Section 2. ' If Borrower abandoß$ the Property, Lender may file, negotiate md settle' any available ins,,:!rance olBim IU1d relBted matters. If Borrower does not respond within' 30 days to a notice from Lender that the in8urance carrier has offered to settle a claim, then Lender may negotiate and settle the claiin. The 30~day period will begin when the notio0 is given. In either event, or if Lender aoquires the Property under Seotion 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this 'Security Instrument, md (b) uny other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance poÌioies covering the Property, ínsofar 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 Instrwnent, whothot or not then dUI!J. 6, Occupancy. Borrower shall occUpy, e¡tablim, and use the Property as Borrower's prinoipal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unlC$S Lendor otherwiøt agre~ in writing, which consent maU not be unreasonably withheld, or unless extenuating oiroumstanoes exist which are beyond Borrower's oontrol. ' 7, Pre8o~atlon, Maintonance and Proteetlon of the Property; IDlpectJoDI. Borrower shall not destroy, damage or impair the Property. allow the Property to deteriorate or commit waste on the Proporty. Whether or not Borrower is residing in the Property. BorroWer sluùl maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically teasible, Borrower shan promptly repair the Property if damaged to avoid further deterioration or dBmBge. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceedS for such purposes. Lender may disburse proceeds for the repairs and restoration in a singJ~ paymlWt or in It s",rius of progress payments as the work is completed. If the insurance Of condemnation prooeeds are not sufficient to repair or restore the Property, BOlTower is not relieved of BOlTOwer' s obligation for the oompletion of suoh repair or restoration. Lender or its agent may'make reasonable entries upon ønd inspections of the Proper\y. If it has reasonàbleoau!Se, Lender may inspect the interior of the improvemeIJ,ts on the Property: Lender shBll give Borrower notice at the time of or prior to such an interior inspection spCQifying sucb rc:msonable causo. 8. Borrower'. Loan Application. Borrower shall be in default if, dunng the Loan application process, Borrower or any persons or entities acting at the) directiQn of Borrower or with Borrower's knowledge or consent gavo materially fal$f1, misleading, or mllOCurate information or statements to' Lender (or failed, to, provide' Lender with material informBtion) in WYOMING .. BÎJ!8l8 JlI1III11y.. FIIJ'aÛ. M....p'addi. MD. UNlroRM INSTRUtdl!NT ,_ JUI 1If 1~? OMACM - CM:$.OO42.WV (0001) (Pagflllof JII) InIUÙI/ -. 'jrs Jul ~ ZUUM lZ;ll 1J11l1'i/UZZ l 0(,. 629 connection with the Loan. Material representations include, but are not limited to, reprelilentRtions conoerning Borrower' 8 occupancy of the Property as Borrower's prinçipaJ residence. 9. ProtectiQn of Lender's Interest in the Property and Rights Under thl. Security Instrument. If (a) Borrower fails to pe:rfonn the covenants and agreements oontained in this Security Instrument, (b) there is a legal proceeding that might significantly øffect Lender's interest in the Property and/or rights under this Seourity Instrument (such B8 a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcanent of a lien which may attain priority over this Security Instrument or to enforoc laws or regulations), or (0) Borrower hIS abandoned thr: Property, then Lender may do and pay for wh~tever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the YBlue of the Property, and ,securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums sccured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights undèI' this Security Instrument, including ita sCicured position in a bankruptCy prooeeding, Seouring the Property include::;, but is not limited to, entering the Property to make repairs. change locks, replace or board up doors and windows. drain watð1' from pipes, eli.n'tfuate building or other code viohttions or dangerous conditions, and have utilities turned on or off. Although Lender may take aotion 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 Lcndør incurs no liability for not takinø any or all actions lIutborized under this Seotion 9, A11y amounts disbursed by Lender under this Section 9 lIhall become additional debt of Borrower secured,by thia Security InstrUment. These amounts Shall bear interest at the Note rate from the dllte of disbursement and shull be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on B 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 IDluranee. If Lender required Mortgage Insurlmce as II condition of making thø Loan. Botrower shllU pay the premiwns required to mBintain 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 providðd such ins\lrllncß IIßd Borrower Wail! r~quircd to makø sQlplU"stely design.ltted payments toward the pr~iums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantial1y equivalent to the Mortgage Insurance' previously in effect, at a cost substantially equivalent to the coat to Borrower of the Mortgage InsUrance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance ,coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be m effect. Lender will accept" \lSe and retain ,these payments as a non"refundable lOlls reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable. notwithstanding the fact that the Loan ia ultimately paid in full. and Lender shall not be required to pay Borrower any intørO$t or earnings on suoo loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the LOAN NO: 187328000 WYOMING - Sin¡¡la panjly - Plmie MMlP¡eddi. MQ~ UNIPORM INSl'RUMI!N'r. FvrIII 30!11 :1101 ~ b-. GMi\CM-CMS,OOG.WY(OOOI)(PagcrPofJ8) " InIUolI: ~ , j\5 l '0(;630 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 pByments toward the premiums for Mortgage Insurance. If. Lender required Mortgage Insurance as a Condition of making the Loan and Bon-ower WBS required to make separately designated payments toword the premium!! for Mortgage Insurance, Borrower shall pay the premiums re,quired to maintain MortgBge Insurange in effect, or to providø a non-refundable loss reserve, until the Lender'lI requirement for Mortgage Insuranoe ends in BOcordmce with any written agreement between Borrower and Lender providing for suoh tennination or' until termination is required by Applicable LBW. 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 that purchases the Note) for oertain losses it may incur if Borrowør does not repay the Loan as agreed. Borrower is not 4 party to the Mortgage Yns'\JJ1mce. ' , Mortgage insurers evaluate their total risk on all sucb insurance in force from time to time, and may enter into agreements with other parties that shIITe or modify their risk, or reduce losses. These agreements lire on tenns and conditions that are satisfactory to thfJ mortgage insurer and the other party (or parties) to these agreements. These Bgreements may require the mortgage insurer to make payments using my source of funds that the mortgQge insurer may have available (which mllY include funds obtained from Mortgage Insurance premiums). As Q result of these agreements, Lender, any purchaser of tbø Note, another ÍDsurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, måy receive (directly or indirectly) Bmounts that derive from (or might ,be characterized liS) II portion of Borrower's payments for Mortgage Insurance, in exchange, for ,sharing or IDQdifying the mortgage insurer's risk, or reducing losses. If such agreement providosthat an affiliate of Lender tBkes a share of the insurer's risk in exchange for a shart! of the premiun1s paid to the insurer.. the arrangement is often termed II captive rein3UfWlce.1I Further: ea) Any luch agreements wUJ not affoot the amounts that Borrower haa agreed to pay for Mortgage Inluranee, or any otber terms of the Loan. Such agreeDlenÞ will not inerealle tho amount Borrower will owe for MoJigage hun.ranee, IUId they wil' not entitle Borrower to any refund. , (b) Any .gob agreements will not affect the rights Borrower has - If any - with re.peet to the Mortgage Inøuranœ under the HomeowÐt:t8 Protection Act of 1998 or any other law. Thele rlghtl may Include the right to t'e~eive çeriain dilçlollunø, to nquelt and obtain cancellation of the Mortgage ba.,nanee, to have the Mortgage mluranœ terminated, automatically, and/or to receive a refund of any Mortgage InluRnce premluml that We.-e unea....ed at the time of lIu~h ~aDecllatJon or termination, 11. Alilgnment of Mløcollaneoul Proceedl; Forr';iture. AU MisceUllIÌeous Prooeeds are hereby assigned to and shan b¡¡¡ paid to Lander. 'WYOMING - 8ilJIo r-ømlly - Pmø Mulprøddlø Moo UNIFORM INSTR,I,IM¡¡NT FIII'III.1OJ1 1/01 ~ ~~ GMACM· CMS,0042. WY (0001) (Prig' 10 of )8) 100Uab. ./ - . 1fj JUI ~ LUUtl lL;ll IJIIII/ULL LOC63:1 If the Property is damaged, such Miscellaneous Pr9ceeds shall be'appHed to restoration or repair of the Property, if the restoration or replÙr is economically feasible and Lender's security is not lessened, During such repair IUld restoration pcripd. Lender sball have the right to hold such Miscellaneous Prooeeds until Lender has had an opportUnity to inspect such Property to cmSl1:re the work has been completed to Lender's satisfaction, provided that suoh inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in B 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 Misoelhmeous Proceeds shall be applied to the sums secured by'this Security Instrument, whether or not then due, with the ex~s$, if any. paid to BOITower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event, Qf It total taking, destruction, or loss in value of the Property. the Miscellaneous Proceeds shBlI be applied to the S1WS secured by this Security Instrwnent, whether or not then due, with the excess, if any, paid to BoITower. In the ev~t of 11 partial taking, destruction, or 10B8 in value of the PrClperty' in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction. or'lo$s in value, unless BoITower and Lender otherwise agree in writing, the Bums secured by this Security Instrument sluùl be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums sccured hnmeqiately 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 ~he Property in which the fair mæ-ket value of the Property immediately before the partial taking, desbilctioQ, or loss in value is less than the amount of the sums secured immcdiately.. before the partiid taking, destruction, or lollS in value, unless BClrrower IUld Lender otherwise Bgree in writing, the Miscellaneous Proceeds shalt be Bpplied to the sums secured by th~s Security Instrumcmt whother or not the sums are then due. " If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the Opposing Party (as defined in the next $entence) offers to make an award to settle a claim for damages, BorrowBT fails to re jipond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds øjther to restoration or repair of the Property or to the sums secured by this Security Insttument, whether or not then due. "Opposing Party" means the third 'party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to MisceUanCÒU$ Proceeds. ' LOAN 0: 187328000 WYO G ~ S1~o PlII'nily ft p.m. Maalp",ddia MIIII UNll'OaM INSTRUMENT FwuI JII51 11.1 ,~ ~ GMACM - CMS.OIl42. WY (0001) (Pags 1/ of 18) IBlUob: ;r-" /"'----, ' ~s t..0(.632 Borrower shBll be in defBult if my Bction or proceeding, whether civil or criminal, is begun that. in Lender's judgment, could result in forfeiture of the Property or om$' materilÙ impairment of Lender's interest in the Pro.porty or rights under this, Seourity Instrument. Borrower can cure such a default and, if Bcoeleration hus occurTed, reinstate as provided in Seotion 19, by cau!ring the action or proceeding to be di~is$ed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Seourity Instrument. Tbe proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are herebY assigned and shall he paid to Londcr. AU Miscellaneous Prooeeds that 'are not applied to restoration or repair of the Property shan be applied in the order provided for in Section 2, ' 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modifioation of amortization of the swns secured by this Security Instrument granted by L0nder to Borrower or my Successor in Interest of BOITower shall. not operate to r",lCilftse the liability of Borrower or my Successors in Interest of BoITOwer. Lender shall not be required to oommence proceedings against any Successor in Interest of Borrower 'or to refuse to extend time for payment or otherwise modUY amortization of the sumlil s~ured 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 exercisIDg any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less thm tbe mount then due, shall not be a waiver of or preclude the o;.tefcise of my right or remedy. 13. Joint and Senral' Liability; Cowllgnerl; SUc:celloFI and Álllgol BOund. BoITower covenants and agrees that Borrowèr'lI obligations and liability shBll be joint and several. However, my Borrower who cowsigns this Security Instrument but does not execute the Note (a IIco_sig~er"): (a) is cowsignìng this Security Instrument only to mortgage, grant and convey the co-signer' s intercst in the Property undèr the terms of this Seourity Instrument; (b) is not personftlly obligated to pay the sums seoured by this Seourity Instrument; and (0) agrees that L~der md any other BOITOwer oan ogree to extend, modify, forbear or make any IlccoIIUIlodations with regard to the tenns of this Security Instrument or the Note without ,the co-signer's consent.' , Subject to the provisions of Section 18, my Successor in Interest of Borrower who aSsumes BOITower' s obligations under this Security Instrument in writing, and is approved by Lender, shall obtain' all of Borrower'lI rights and benefits under this Security Instrwnent. Boft'ower shall not be released from Borrower' 8 obligations and liability, under this Security Instrument unless Lender agrees to such release in 'writing. The covenants IUld Bgreements of this Security InsU'1Unønt shø11 bind (except as provided in Section 20) and benefit the successors and assigns of Lender. ' WYOMING - ~a pamlly,.PllMla M/lalFtðddÎo M"" UNIPORM INIITRUMBNT Jlonn3OS. UDt ~ ,¿-: Gl\'JACM - CMS.OO41. WV. (0001) (Pagtf J 2 of }8) , , InlUab; 1/1'5 Jul 9 2008 12;11 ~'OC633 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default" for the purpose of protecting Lender' 9 interest in tho Property and rights under tms Securit}( Instrument, including. but not limited to, attorneys' fees, property in5pection and valuation fees. In regard to any other fees,' the absence of express Buthority in this Security Instrument to charge a specifio fee to Borrower shall not be construed IlS a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applica~le Law. ' If the Loan is subject to a law which sets maximum 10M charges, and thllt lllw is finally interpreted so that the interest or other loan oharges colleoted or to be collected in connection with the Loøn exceed the permitted limits, then: (8) any such loan charge shall be reduced by the allO\Ult necesstuy to reduce the charge to the permitted lii:nìt; and (b) any sumsaJready collected from BOlTower which exceeded permitted limits will be refunded to BOlTower. Lender tnay choose to make this refund by reducing the principal owed under !hø Note or by making It dirlaot payment to BOITower. If a refund reduces principat, tho reduction will be treated liS II partial prepayment without any prepaymcnt charge (whether or not Ii prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct, payment to BolTower wíll constitute II waiver of any right of action Borrower might have arÌ$Ìng out of such overcharge. ' 15, N()ticos, All Notices given by Borrower or Lender in connection with this Seouríty Instrument must, be in writing. A:ny notice to Borrower in connection with this Security Instrument shall be deeroed to have been given to Borrower when mailed by (trst class mail or wben act"ølly dl}livr.'Ired to Borrower's notice address if sent by other means. Notice to anyone BolTower shall constitute notice to all BolTOwers unless Applicable Law expressly requires otherwise. The notice address shall be tho Property Address unless Borrow0r hfi$ desig¡mted a substitute notice address by notice to Lønder. Borrower shall promptly notify Lender of Borrower's change of address. If Lønder specifies a prooedure for reporting Borrower's change of a.ddrcss, then Borrower shan only report a ohønge of Í1ddress through that specified prooodure. There may be only one deslgÌ1ated notice address \Ulder 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 heroin unlcss Lònder bu designated another IIddress by notice to BOlTower. Any notice in connection with this Security Instrument shall not be deemed 10 have been given' to Lender until actually received by Lender. If any notice required by this Sc::curity Instrument is also required under Applicable Law, the Applioable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Govemlng Law; Severability; Rules of Condrudio... Thi:!! Security Instrument shall be governed by foderal law III1d the law of the jurisdiotion in whioh the Property is located. AU rights and obligation:!! contained in this Seourity Instrument lire subject to any requirements III1d limitation:!! of Applioab~e L,BW. Appliollble 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 LOAN NO: 187328000 WYOMING - sqlo PIII.ly " P8lldÌo MaalFraddia M.. UNIFORM INsrRUMjiNT FÞrm,1tl lJ ifill .d ¿-- GMACM - CMS.OO42. WY (0001) (Pass J 1 0[18) WI"øJI; /~ ì" '-- .... 7\5 M13/022 LOC634 prohibition against agreement by contract. In the event that any provision or clausc of this Security Instrument or the Note conflicts with Applìcable Law, such conflict shall not affeot other provitiÏons of this Security In$trUment or the Note which OlD be given effect without the conflioting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include cOlTeSponding neuter words or words of the fðJUinine gonder: (b) words in the ,dngulfU' shall mean and includo tho plur.rd and vice versa: and (0) the ~ord "may" gives sole discretion without any obligation to Wçe any action. 17. Borrower', Copy. Borrower shall be given one copy of the Note IDd of this Security InstrumeIlt. 18. Tranlfer of tbe Property or " Benefielalm1ereø11n Borrower. As used in this Section 18, ft Interest in' the Property II meMS MY legal or beneficial interest in the Property, including, but not limited to, those beneficilll interests transfeITed in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is tho transfer of title by Borrower at Ii future date to a purchBSer. If all or any part of the Property or any Interest in the Propørty is sold or tfsnsforred (or if Borrower is not 11 nBturBI person and Ii beIleficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of 1111 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 noúce of accclerwon. Tho notice shill I provide 8 period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay fill wms seourE:d by this Security Instrument. If Borrower fails to pay these sums prior to the expÍTlltion of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. ' 19, :IJofrvwer'. Ri lbi to Reindate After A~"leraiion. If Borrower meets certain conditions, ßOlTOwer shBll hl1ve the right to have enforcement of this Security Instrument discontinued at any time pfior to the earliest of: (8) five days before sale of the Property pursuant loany power of salc contained in this Security Instrument~ (b) such other period BS Applicllb1e Ll1w might speoify for the termination of Borrower's right to reinsta.te; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender aU sums which then would be due under this Security InstrUIDeIlt und the Note as if no acceleration had ocCurred; (b) cures any default of any other covenants or Bgreements; (c) pays fill expenses incurred in, enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security InstrUmcmt; and (d) ta};es such action as Lender may rf.lasonably require to fissure that LeIlder' 51 interest in the Property and rights u'ijder t1ùø Security Instrument, and, Borrower's obligation to pay the sums secured by this Security' Instrument, shall continue unchanged. Lender may require that BOlTower pay such reinstatement sums and expenses in one or mot\' of tbo following foons, as selected by Lender: (a) cash: (b) money order; (c) certified check, bank check, treusurer' 5 check Or cashier's check, provided uny suoh cheok is drllWIl upon an institution whose deposits are in:mred by a federl1l agency, instrumentality or entity; or (d) Electronic Funds Transfer. WYOMING .. fiin&le Fwl>,- Panni. M.øIPI~. M.. UNIFORM JNSJ'I!.UMI!NT ,-.,. ¡rot d ~~ GMACM - CMS.0042. WY (0001) (PQ8f1 14 of /8) IuJUIIlI; r - ~s Jul 9 2008 12;11 M15/022 ,-OC635 Upon rcinst~tement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective 85 iÍno acceleration had occurred. However, this right to reinstate $ball not apply in the case of acceleration under Section 18. 20. Sal" of Note; Change of Loan Servtœr; Notj~e of Grievanœ. The Note or a p811ial interest in, tho Note (together with this Seourity Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in 4 cbange in fuo entity (known as the "Loan Scrvicer") that con eels Periodic Payments due under' the Note and this Security Instrum0l'1t and perfonns other mortgage 10Bn servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one'or more changes of the Loan Senriccr unrelated to a sale of the Note. If there is a change of the Loan Servícer, Borrower wiU be given written notioo of the change which will state the name and Bddress of the new Loan Servicer, the address to whioh pllyments should be made and any other information RESP A requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan ServiceI' other than the purchøser of the Note, the mortgage loan servicing obligations to Borrower will remain wìth the Loan Servicer or be transferred to a successor Loan Servioer and are not assumed by the Note purchaser unless otherwise provided by the Note purchBser. ' Neither Borrower nor Lerider may com¡;nence. join, or be joined to any judicial action (as either an individual litigant or thø member of a ola$9) that arises from the other party's nction1,!l pursuant to this Security Instrum~nt or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument. until such Borrower or Lender has notified the other party (with such notice given in oomplianoe with the requirements of Section 1 S) of suoh alleged breach and afforded the other party hereto a reasonable period lifter the giving of such notice to take corrective action. If Applic.ablo Law provides a time period which must elapse before certain action can be takon. that time period will be deemed to be reasonable for purposes of this paraWaph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take correotive action provisions of this Section 20. 21. Hazardoo. Subøtønçell. As used in this Section 21: (B) "HIIZBrdous SubstaD.ces" arO those mbstanceli defined BS toxio or hazardous substances, pollutants, or wastes by Environmental Law and the following substmces: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents., materials containing asbestos or formaldehyde, and radioactive materials~ (b) "Enviromne:ntnl Law" means federBI laws and laws of the j~risdicti()n where the Property ili located that reløte to health, safety or environmental protootion; (c) "Environmental Clean~p" inohides any response action. remedial action, or removøl BCtion. 8S defined in Environmental Law~ and Cd) an "Environmental Condition" means a condition that can causo, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not OBuse or permit the presence, use. disposal, storage, or release of any Hazardous Subst8nces, or threaten to release any Hazardous Substances. on or in the Property. Borrower shall not do, nor allow anyone 'else to do, anything affecting the Property (a) that is in violation or' any Environmental Law, (b) which Cfeates' an Environmental Condition, or (0) which, due to the presence, use, or release of 8 Ha2ardoUiiI Substance. creates B oondítion that LOAN NO: 187328000 WYOMING - ~o pwly_ PIIIri. MlHIIPraddi. M..UNIFORM INSTlluMI!NT' Fwm 3Øt 11M './ ~ GMACM - CMS,0041. WY (0001)(Pa,rslS of J8) 'InItfnlt¡ ~ '- '1'5 ~OC636 adversely affects the value of the Property. Tho preceding two sentence.s 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 nonnal residential ùses 'and to maintenance of the Property (including, but not limited to, hazardous substances in consumer produots). Borrower shall promptly give Lender written notice 'of (a) any investigation. claim, demand, lawsuit or other action by fmY governmental or regulatory agency or private party , involving the Prop~ and any Hazørdous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, inoluding but not limited to, any spilling, leBking, discharge, release or threat of releBse of any Hazardous Substanco. and (c) any condition caused by tho presence, use or release of a Hazardous Sub$tllDce which adversely affects the value of the Property. If Borrower learns. or ir~ notified by any governmental or reg1.datory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is neoesSBrY, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing horøm shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 12. Aec:eleratlon; Remedies. Lender Ihall give notice to Borrower prior to acceleration following Borrower'.brøaeh of any «:ovenant or agmmClnt in thil Security Instrument (but not prior to acceleration under Sedion 18 unleu Applicable Law provide. otherwise), The notice shall Ipeclfy: Ca> the default; (b) ·the action required to cu"' the default; (e) a date, not lell th..n 30 days from the date the notice II given to Bormwer, by which the default nJuøt be eured; and (d) that fallure to cure the default on or before the date Ipecif'ied in the notiçe may relult In acceleration ot the IUIOS se<!ured by thil SCl4.1Urity InitrulDent Îmd laic of tho Property. The nodce Iban rurtber infono Borrower of tho right to reindate after aœoleratlon and the right to brinK ø court adlon to allert the Qon-existenc:o of a default or any other defense of Borrower to aççeleratlon and iale. II the default b not cured on or before the date .pecified in the notiço, Lender at Its option may require Immediate p.yment in full of aU luml lecured by thll Security lDat....ment without further denu¡nd and may invoke the power of Iale and any' other remediel permitted by Applicable Law. Lender shall be entitled to coUeçt all expenlel incurred in punulng tbe remedl. provided in thi. Section 22, Including, but noi limited to, realonable aUomoys' feCJ and COltl of title evidence. If Londor Invoke. the power of lale, Lender .halJ give notiee of Intent to foreclole to Borrower and to the person in pOlllcøsion of tho Property, If different, in aecordançe with Applh::able Law, Lender shall give notice of the sale, to Borrower in the mannor pfOvided in Sootion 15. Lender shall publish tbe potiçe of lalo, and tho Property Ihall be lold In tho manner preøerlbed by Appli~.ble Law. Lender or It. dellgnee may purehaøe the Property at any lale. The proceeds of the .ale Ihall be applied In the following order: Ca) to all expenlel of the .ale, in~luding, but not limited to, reasonable atto....ey.' fees; (b) to all luml secured by tbil Security Inltrument; and ,(c) any eXcel1 to the perlon or perlons legally entitled to it. wYOMING - 8Inalo PØllllly- Fmo MIIO/Froddìo Milo UNIPORM INmuMI!NT Form 3tl5j vet ~ ~ ' GMACM-CM8.0041.WY (0001) {PØ811 J6(1fJ8) Inltlall:;; .....- ~s A JuJ 9 2008 12;11 - -17/022 l'OC637 23. ReJeaøe. Upon payment (If aU sums secured by this Security Instrument, Len~er shan release this Security Instrument. BOlTOwer shall pay any recordation costs. Lender may charge Borrower B fee for releasing this Security Instrument, but only if tbe fee is paid to a thírd party for services rendered and the oharging of the fee is pennitted under Applicable Law. 24. Waivers. Borrower releases and waives all right$ under and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the tøtms and COVeDants contBined in this Security Instrument and in any Rider exoouted by Borrower IUld recorded with ~ ' , J~~~~ - (Stlal) -Borrower ~~~ (S,"I) -Borrower (SIal) -Borrowor (SBa{J ·Borrower LOAN NO: 187328000 Witnesses: WYOMING - 8Irwlo I'nmlly - FIInnIo Mallll'toddlo Moo UNIFORM INIITRUMBNT ........:IIISl JIOI GMACM - CMS.0042.WY (0001) (.Pail! 17 of/8) \..-OC638 On '=t "I b -0 ~ ,2008, persònally appeared before me Alexandra M. Sweatt the signer(s) of the within instrument, who duly acknowledged to me that she executed the same. t Stateof~U2~~m~ County of ~ \ì Residing: Gn~Y\. Q,~ Expires: g..~~-o.P\. CHERYL A. JONES - NOTARY PUBLIC County of & State 01 Lincoln . Wyoming My Commission Expires Feb. 4, 2009 ~ JUI ~ ZUUtl 1Z;11 UII1 tl/UZl LOC639 -.:!1/,'"\.'> INDMDUAL ACKNOWLEDGMENT STATE OFWYÐMIPiG, ) G;../c<. ) S8 COUNTY OF -.t:hnT!O:ll( ) , The foregoing instru:n1ent was acknowledged before me this July 10, 2008 (date) ~OLtTTE KROM, a married woman as her so¡a and ßeparate property and ALEXANDRA M SWEATT; a married woman a8 her sole and separate property. (penon lIoknowlødging) ~~ Notary rublio My Commission Expir0$: ~ £f l- 1"'-, z.,; I c) 0Ff1CW. 8W Þ IŒßH ROI8nI Notary PuÞIIc . State Of atoll My ComrnINIon Exp/rea 8ep 15, 2010 - ..... WYOMING - 8J..:Ig family - fUl.~g Mull'raddie Mag UNIFORM INSfIl.UMIINT FlInn 30!11 VOl L::7 ~ GMACM -.CMS.0042. WY (0001) r1'''8lrJ8u[ JS) InItlol.a: r.: ' .' ~ , ORDER NUMBER: NTL·1970 L'OC640 EXlUBIT f1 A" LOT 80 AND LOT 81 OF STAR VALLEY RANCH PLAT 16, LIN'COLN COUNTy, WYOMING, AS DESCRIBED ON THE OFFICIAL PLAT THEREOF RECORDED SEPTEMBER 27, 1978 AS MAP NUMBER 230 AND DOCUMENT NUMBER 514467 IN THE OFFICE OF THE CLERK OF LlNCOLN COUNTY. WYOMING. AL l"A Commitment (6/ /7/06) Jul 9 2008 12;11 nn~0/022 ("0(:641 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER is made this 10th day of July ,2008 , and is incorporated into and shall be deemed to Bmend and supplement the Mortgage, Deed of Trust, or Security Deed (the II Security Instrument") of the same date, given ~ the undersigned (the ~Borrower") to secure Borrower's Note to GMAC Mortgage, LLC f/k/a G~C Mortgage Corporation (tbe "Lender") of the søme date and covering the Properly døsoribed,in the 'Security Instrument and looated at: 293 Alta Drive Star Valley Ranch, WY 83127 [PJ'C>porty, Addl'QIs] The Property includes: but is not limited to, a parcr::l of hu~d improved with a dwelling, together with other such paree]s and c~aiu common areBIJ and facilities, as described in (the "Declaration"). The Property is a part of a planned unit development known as Star Valley Ranch [NamQ of Planned Unit Development] (the "PUD~). The Property also includes Borrower':;: intere:;:t in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the" Owners Association ") and the U1leS. benefits and proceeds of BOlTower' s interest. PUD COVENANTS. In addition to the cOvenants and, agreements made in the Security Instrument, BOlTower and Lender furthør covenllßt and agree as follows: A. PUD Obligationa. Borrower shall perform all òf Borrower's obligations under the PUD's Constituent Doewncnts. Tho'" Cou$tituent DocUments" ore the: (i) Declaration; (ii) atticl~ of inoorporation, trust instrument or any equivalent document which create.s the Owner:;: AssooiBtion; and (Hi) any by ·laws or other rulcs or regulations of the Owners Association. Borrower shall promptly pay 7 when due. aU dues and ass~ents imposed pursuant to the Constituent Doownents. B, Property Insurance. So long as the Owners Association maintains, with a generlÙly accepted insurance cmier, a "master" or "blanket~ policy insuring the Property which is satisfactory' to Londcr and wrnch provides insu~ance coverage in the amounts (including deductible levels), for the periods, and against loss by fira, 'hazards included withÙl the tenn n extended ooverage," and any other hazardS, including, but not limited to, earthquakes and floods, for whioh Lender requires insurance, then: ' LOAN NO: 187328000 MULTISTATE PUD RIDER p 8111g18 FlJmlly . Fannie MuelFreddlø Maç Unlfonn Instru~K3150 1/01 Pags 1 of 3 426287272 Inltl.la: GMACM -CRM.0044:PUD(Cl411, 7\S L'OC642 (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium'instlt11ments for property insurance on theProp~~ and (ii) BOlTower's obligation under Scotion 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the ,Owners Association policy. What Lender requires as a condition of this waiver can change during the tC!l1D of the loan. . Borrower shlÙl give Lender prompt notice of any lapSI.'J in required property insurance coverage prDvided by the mlUlter or blanket policy. In the event of a distribution of property Ï11$nnmce prooeeds in lieu of restoration or repair following B loss to the Property, or to common BreBS, and fooilities of the PUD, any proQeeds payable to Borrower are hereby usigned and shall be paid to Lender. Lender shaH Bpply the proceeds to the sums secured by the Security Instrument, whether or not then due, with the exoess, if any, paid to Borrower. ' , C. Public Li.bm't)' Inluranc..-e. BolTOwer shall take such actions as may be reuonBble to insure thBt the Owners Association maintains a publio liBbility insurance policy acceptable in form, amount,' and oKtent of coverage to Lender. ' n, Condemnation. The proceeds of any award or claim for dBDlBges, direct or consequential, payable to Borrower in connoction with any condemnation or other taking of all or any part of the Property or the common lU'eas and faoilities of the' PUD, or fot IInY conveyance in lieµ of condemnation. lire hereby assigned Bnd shall be paid to Lender. Suoh proceeds shall be applied hy Lender to the sums secured by the Secwity Instrument as provide~ in Section 11. 0 E. Lender's Prio~ COßllent. BOlTower shall not, except after no~ce to Lender lUld with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) 'the abandonment Or termination of the PUD, except for abandonment or termination'required by IBW in the case of substantial destruction by fire or other ca$Ualty or in the case of a taking by condemnation or eminent domain; , (ii) any amendment to any provi5ioIl 9f the · Constituent Documents" if the provision is for the express benefit of Lender; (Hi) tennioatioD of professional manágément and BSSUmption of self-management of the Owners Association; 01' , (iv) any, action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F.Remedlel. If Borrower doeS not pay PUD dues 'and assessments when' due, then Lender may pay them. MY am(iunts disbursed by Lender under this paragraph F shill! b¢oom0 additional debt of BOlTower secured by the Security Instrument. Unless Borrower IInd Lender agree to other tenns of payment, these amounts shal1 boar, interest from the date of disbursement at the Note rate and shull be payable, with intercst, upon notice from Lender to Borrower requesting payment. LOAN ~o: 187328000 MULTlSTATE PUD RIDER· Single Family. Fannie M.IIIFreddle Mac Uniform Inr ~ 3160 1/01 GMACM " CI<M.DD".PUD (0411) ..... , of 3 .. ,.,.., ~ . Jul 9 2008 12;12 nn~2I022 l'OC643 BY SIGNING BELOW, BOlTower accepts and agrees to tho tanns mid COVeDmts contl.\Ìned in this pun Rider. ~:,;h.ë.di- Jv.~<1Jc (Seal) ·ßonvwør ~~ Paulette Kro~ (Seal) ·Borrower (Seal) ·&nOWCll' . (Seal) ·BoJTowr,:r LOAN NO: 187328000 MUI..TlSTATE PUD RIDER· Single, Family. Fannie Mae/Freddie Mac Unifonn I~Btrument Form 3160 1101 GMAOM - ORM.0044.PUD (0411) Page 3 of 3