Loading...
HomeMy WebLinkAbout941648 6010816583 After Recorðmg Retlln¡ To Taylor, Bean & Whitaker Mortgage Corp. 1417 North Magnolia Ave. Ocalar FL 34475 RECEIVED 8/27/2008 at 3:13 PM RECEIVING # 941648 BOOK: 703 PAGE: 305 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY OOô305 [Space Above Thlø Line For Recording Dala] MORTGAGE MIN:100029500024461497 DEFINITIONS Words lIsed 111 multIple sections of thIs document are defined below and oilier words are defined 111 SectIons 3, 11, 13. 18, 20 and 21 . Certallt rules regardlllg the lIsage of words lIsed iiI tlns document are also provided In Sectlon 16. (A) "Security Instrument" means this doclImel\t, which IS dated August 26, 2008 Riders to thIs document. , together with all (ß) "Borrower" IS Fred A, Baldwin AND Parry M. Davison, Husband and wife Borrowel' IS the mortgagor under this Secllnty Instrument ~í L (C) "MERS" is Mortgage Electronic Reg¡.strabon Systems, IlIc. MERS is a separate corporatlon that IS actIng solely as a nomtnee for Lender aud Lender's Sl\ccessors aud assigns. MERS is the mortgagee under this Security Instrument. MERS IS orgal1l7.ed and exlstlOg under the laws of Delaware, and hilS an address and telephone number of P.O. Box 2026, Flmt, MI 48501-2026, tel. (888) 679-MERS (D) "Lender" IS Taylor. Bean & Whitaker Mortgage Corp. Lcnder Is 1\ a Florida Corporation the laws of FL 1417 North Magnolia Ave, Ocala, FL 34475 orgl\lUzed and eXIsting wIder . Lender's address IS (E) "Note" means the promissory note Slgll~ by BOl.Tower ulId duted August 26,2008 . The Note slat~ that Bon'owerowe3 Lender Four Hundred Seventaen Thousand and no/100 Dollars (U.S. $417,000.00 ) plus interest. Borrower has promISed to pay thIs debt III regular Penodlc Payments and 10 pay the debt m fuJJ 110t later than September 01, 2038 (F) "Property" means the property that IS described below under the heaclmg "Transfer of Rights 10 the Property," WYOMING-5mgl" Fnmily-Fannle MaeIFreddie Mnc UNIFORM INSTRUMENT ITEM T276gJ" (OO11}-M£AS (Pac. 1 of 12 pag....) Form 30511/01 (¡ReA RANO . T.On!. Coli: 1-eO~G-9393[JF": 616·791-113' 11111111111111111111111111111111 11111 IIllllllll 111111111111111 III 1111111111 "024110Z446149" (:0030:6 (G) "Loan" means the debt evidenced by the Note, plus IDterest, any prepayment charges aud late charges due under the Note, and all slims due under this Security Instrument, plus mterest (1-1) "Riders" means aJI Riders to this Secunty Instrument that are executed by Borrower. The followIng Riders are to be executed by Borrower [check box as apphcable] o Adjustable Rate Rider o CundOlTI\I1llUll Rider o Second Home Rider o Ballooll Rider o Planned Unit Development Rider o Other(¡¡) [specify] 01-4 Family Rider o BIweekly Payment Rider (I) "Applicnble Law" means all controlhng applIcable federal, state and local statutes, regulanons. ordinances and admllllstratJve nlles aud orders (that have the effect of law) as well as all appucable final, non-appealable Judicial opllllOns (J) "Commuulty Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are lInposed 011 Borrower or the Property by a COndOlTIIIlll1m association, homeowners associatIOn or sImilar organizanol1. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction ong1.Dated by check. draft. or slluilar paper \I1strumelll, which IS llIitJated through an electronic ternunal' telepholllc mSlrument, computer, or magnetIc tape so as to order. II1struct, or Ruthonze a financìa.lmstJtubon to debit or credit an account. Such telln mc1udes, but Is not limIted to, powt-of-sale transfers, automated teller machme lransacl1ons, transfers mibat.ed by telephone. wire transfers. and ilmomaloo clearmghouse transfers (L) "Escrow Items" means lhose ltem8 that are described In Section 3 (M) "Miscellaneous Proceeds" means any compensat1on, settlement, award of damages, or proceeds paid by any' thU"d party (other thanl11slIrance proceeds paid uuder the coverages described III Sectiou 5) for: (i) damage to, or destruction of, the Property; (ii) condelTUlatton or other takmg of all or any part of the Property; (iii) con veyance in lieu of condemnatton¡ or (iv) mIsrepresentatIOns of, or omISSions as to, the value andlor condit1on of the Property (N) "Mortgage Insurance" means lIlsurance protectmg Lender agamst the nonpayment of, or default on, the Loan (0) "Periodic Payment" ITIt'an8 the regularly schcdule;] amounl duc for (i) princIpal and IIltere.st under the Nuw. plus (ii) any amounls under SedJOn :I of this Sccunty Instrument (P) "RESPA" means the Real Estate Settlement Procedures Act (12 V,S.C. §2601 et seq.) and It.~ ImplementIng regulation. Regulation X (24 C.F,R, Part. 3500), as they might he amended from time to tllne, or any additionaJ or successor Jegislatton or regulal1ol1 that governs the same subject malter. As used III thIs Seculity Instrument, "RESPA" refers to all requirements and restnctlol1s that are unposed 111 regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA (Q) "Successor in Interest of Dorrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obhgatJolls under the Note andlor tins Secunty Instrument. WYOMING-SII1~le F~l11ily-FaDnie MaclFreddle Moc UNIFORM INSTRUMENT ITEM T27U9L2 (0011 )-MERB (Puge 2 of /2 pag~.\') Form 3051 JlOl OREATlANO . To O,d" CoIl: 1-800-530-113&3 []Fax: 616-791-1131 TRANSFER OF RIGHTS IN THE PROPERTY 000307 TIus Security lnstnunent s(:Cures to u:nder; (i) the repayment of the Loan, and all renewal.s, extensions and modifications of the Note; and (ii) the perfol1Tlance of Borrower's covenants and agreemenls under thiS S(:Cunty Instrument and the Note. For tlus purpose, Borrower does hereby mortgage, granl and convey to MERS (solely as nommee for Lender and Lender's successors and assIgns) and to the Sllccessors and IlSslgns of MERS, with power of sale, the followlllg described property located 111 the County of Lincoln (Type of Recording Juri.diclion) [NII11IC of Recording Junsdictloo) See Attached Exhibit A. which cllrrently h1l.5 the address of 2009 Aspen Springs Creek Road ¡Street) Kemmerer IClty] , Wyoming 83101 IZipCotl<'1 ("Property Address")' TOGETHER WITH all the Improvements now or hereafter erected 011 the properly, and all easemenls, appurtenances, I1l1d fixtures now or hereafter a part of the property. All replacements aJld additIOns shall also be covered by this Secunty [nsll1l111elll. AU of the foregoll\g IS refe,rred 10 III thiS Secunty InstrUmenl as Ihe "Property" Borrower nnderstands and agree.~ that MERS ho[ds only legal title to the 1I1teresL~ grnnted by BOlTower U1 thIS Security Instrumenl, but, if ue,eessary to comply Wilh law or custom, MERS (as lIonunee for Lender and Lender's successors and assigns) has Ihe nght: to exercIse any 01' all of those IIIterests, IIICludlllg, but not limIted to, the right 10 foreclose and sell the Property; and to take any action reqllJred of Lender JIIcludll1g, but not IlImted to, relellSmg !lnd canceling this Security Instrument. BORROWER COVENANTS that Borrower IS lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the, Property IS unencumbered, except for encumbrance.~ of record BOlTower wan'anls and will defend generally the title to Ihe Property agamst all clauns and demands, subject to any encumbrances of record THIS SECURITY INSTRUMENT combJlles uniform covenants for national use and non-uniform covenants with hnllted vnnatlollS by JUrisdictIOn to constitute a uniform secunty mstnllnent covenng real property UNIFORM COVENANTS. Borrower and Leuder covenant and agree as follows. 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay whCII due the prlllclpal of, and Interest on, the debt evidenced by the Note and any prepayment charges and late charges due under Ihe Note. Borrower shall also pay funds for Escrow Tte,ms pursuant to Secùon 3. Payments due under the Note and thiS Secuflly Inslrument shall be made III U.S. currency. However, if any check or other mstrument received by Lender 113 paymenl under the Note or thiS Security Iustrument is returned to Lender unpaid, Lender may require Ulat any or all subsequent paymenls due under the Note and this Security Inslrwnent be made In one or more of the followlllg fonns, as selected by Lender; (n) clISh; (b) 1II01le)' order; (c) certified check, bank check, trea.~urer' s check or clISruer's check, provided any slIch check I.Ç drawn UpOIl all InstItlltion whose depUSllS are insured by a federal agency, instrumentality, 01" entity; or (cI) Electronic Funds Transfer Paymcnts arc deemed received by Lender when recclved at lhc locatIOn designated 111 Ihe Note or at stich other location lIS II1ny be designated by Lender In accordance with the notice provisIons 111 Secl10n 15. Lender may return any payment or WYOMING-5lRllc FRmily-Fannle MnelFreddle Mac UNIFORM INSTRUMENT ITEM T27691.3 (OO11)-MERS (Pa8~ 3 of 12 page.f) Form 3051 VOl GREATlANO. T. order CaR: HD()-(;3()-9393IJFax: 616·791-1131 '~;tO-': ~OQ t... Vtwl 0 pmtial payment if the payment or partial payments are IJ1suffíclent to bnng the Loan current, Lender may accept any payment or partial payment insufficIent to bnug the Loa.n cum:nt, without waiver of any rights hereunder or Pledudlce to its rights to refilse such payment or partial payments III the future, but Lender Is not obltgated to apply such payments at the Ume such payments are accepted. If each Penodlc Payment IS applied as of its scheduled due date, then Lender need not pay interest on unapplied fill1ds. Lender may hold such unapplied fimds until Borrower makes payment to bring the l..Qan current. If Borrower does not do so within a reasonable perIod of time, Lender shalt either apply such funds or retum them to BOlTower If not applied earlier, such funds wiII be applied to the outstandmg pnncipal balance under the Note Immediately pnor to foreclosure. No offset or claun which Borrower might have now or in the future agatn.st Lender shaIl re-heve Borrower from mnklllg payments due under the Note and th1s Secunty Instrument or perfomung the covenants and agreements secured by lhls Security Instrument. 2. Application of Payments or Proceeds. Except as otJ1t~rw1Se dC'.'icribed 111 thIS Section 2, all payments accepted and applied by Lender shalI be applIed in the foIlowmg order of priority: (a) mterest due under the Note; (b) principal due under the Note; (c) amonnts due under Seclton 3. Such payments shall be applIed to each Penodlc Payment iu the order 10 which It became due. Any remaming amounts shall be apphed first to late charges, second to any other amounts due under this Secumy Instrnment, and then to reduce the pnnclpal balance of the Note. If Lender receiVes n payment from Bon'ower for a delinquent Penodt.c Payment which mcludes a sufficient amount to pay any lale charge due, the payment may be applied lo the dell1lquent payment and the late charge. If more than one Penodic Paymenlls outstandmg, Lender may apply any payment received from BOlTower to the repayment of the Periodic Paymenls if, Md to the extent that, each payment can be pald In full. To the extent that any exces.5 eXists after the payment IS applied to the full payment of one or more Penodlc Payments, such excC'.'iS may be applied to any late charges due. Voluntary .Jrepayment.s shall be applied first to any prepayment charges and then as described 111 the Note. Auy apphcatJon of payments. Insurance proceeds, or Miscellaneolls Proceeds to pnnclpal due under the Note shallnol extend or postpone the due dltte, or change lht' amounl, of the Pe¡10dll: Payments 3. Fund¡¡ for Escruw Items, BOl1'ower shall pay lI¡ Lender ou the day PeriodIc Payments are due under the Note, unlillhe Note IS paid 111 full, a sum (the "Funds") lo provide for payment of 8mo11nts due for: (a) !axes and assessments and olher Items which can aUam prlonty over thiS Secunly Instrumenl lIS n lien or encumbrance on the Property; (b) leasehold payments or ground rents on tJ1e Property. ¡rany; (c) prellliums for any and alllllsurance reqUired by Lender under Section 5, and (d) Mortgage Insurance premIUms, if any. or Hny sums payable by BOlTower to Lender IU lieu of the payment of Mortgage 1118urance premiums In accordance with the provisions of Section to. These items are caIled "Escrow Items." Al ongll1atlOlI or at any tllne dllnng the tenn of the Loan, Lender may reqll1re that Community ASSoclátlon Dues, Pees, and Assessments. if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. BOlTower shall promptly ¡'umish to Lender all nollces of amOUl1ts to be paid under tbis SecUon. Borrower shall pay Lender the Funds for Escrow Items unless Lender WaiVes Borrower's obllgab.on t.o pay the Funds for any or all Escròw Items, Lender may WRlVe Bon'ower's obhgatlon to pay to Lender Fund.s for any or all Escrow Items at any tune, Any such waiver may only be \0 writmg. In the event of such WaIver, Bon'ower shall pay duectly, when and where payable, !he amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender reqUIres, shall furnish to Lender receipts evidencmg such payment withJl1 such tllne penoel lIS Lender may reqU1re. Borrower's obhgat1on to make such payments and to provide receIpts shall for all purposes be deemed to be a covenant and agreement con tamed UI thiB Securily Instrument, as the phrase "covenant and agreement" is used in Section 9, If Borrower IS oblIgated to pay Escrow Items directly, pursuant to a WlUver, and BOlTOwer fail.s to pay the amount due for an Escrow Item, Lender may exercise.1ts rights under Section 9 and pay such amonn! and Borrower shaH then be obligated under Sect10n 9 to repay to Lender any such amount Lender may revoke the walver lIS to any or all Escrow Items at any time by a notice given in accordance with Seclton 15 and, upon such revocation, BOlTOwer shall pay to Lender all Funds, and 111 such amounts, that arð then required under l/us Section 3. Lender may, at any tlllle. collect and hold Funds III an amount (a) sufficIent 10 pennit Lender to apply the Funds at the tll1le specified under RESPA, and (b) nolto exceed the maxuuum amount a lender Call requu'e under RESPA, Lender shall estimate the amollnl of Funds due on Ùle bllsts of CUITent data and reasonable estimates of expendItures of future Escrow Items or otherwIse 111 accordance with Applicable Law 111e Funds shall be held III <UI tl1SUtutlOJl whose deposll.~ are msured by a federal agency. 1IlSlnllUental1ty, or entity (1J1cluchng Lender. if Lender Is an mslltutlOn whose depu..~11s are Sll IIISured) or III any Federal Home Loan Bank, Lender shall apply the Funds to pay tJle E..~crow [tems no later than the tnne specitied under RESP A. Lender shall not charge BQlTower for holdl1lg and applYll1g the Funds, annually analyzlIlg the escrow account, or verifymg the Escrow Items, unless Lender pays Bon'ower mterest on the Funds and Applicable Law penlllts Lender to make such II charge, Unles..<¡ an agreement is made in writJl\g or Appltcable Law requIres Illteresllo be paid on the Funds, Lender .shall not be reqU1red to pay Borrower any mterest WYOMING-SIIIg!e FAmily-Fannie MaelFredllle MDC UNIFORM INSTRUMENT ITEM T276g¡,4 (0011)-MERS (Page" oJ J2 page..) Form 30511101 OREA TL.AND . To Onter Can: H0I>-630-030301'u: 616-781-1131 000309 or em11lngs on the Funds. Borrower and Lender can agree 111 writing, however, thal IIIteresl shall be paid 011 the Funds. Lender shat! gIve to Borrower, without charge, an annual accountmg of the Funds as rel-]Ulced by RESPA If there IS a surplus of Funds he]d In escrow, as defined under RESPA, Lender shall accounllo Borrower for the excess funds In accordance with RESPA. If there IS a shortage of Funds held 111 escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amounlnccessary to make up the shortage 11\ accordance with RESPA, but III no more than 12 monthly payments, If there is a deficiency of Funds held In escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender !he amount necessary to make up the deficiency 111 accordance with RESPA, but In no more than 12 monthly payments Upon payment 111 full of all sums secured by thiS Security Il\8trumenl, Lender shall promptly refund to Borrower any Funds t1eld by Lender 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and unpositions attributable to the Property which call attam prlOnty over thfs Security Il\8trumenl, leasehold payments or ground rents on the Property, if any, and Coml11u11lty ASSociation Dues, Fees, and Assessments, if any. To the extent !hat these items are Escrow Items, Borrower shall pay them In the manner provided In Section 3. Borrower shaH promptly discharge a.ny hen which has prlonty over IlllS Securily Instnunent unless Borrower: (a) agrees III writmg to the payment of the obligation secured by the hen III a manner acceptable to Lender, but only so long as Bon'ower IS perforll1ltlg such agreement; (b) contc.~ts IJ1e hen In good faith by, or defends agamst enforcement of the hen in, legal pn)l;cedmgs which It1 Lender's opinion oµerate, III prevent the I.',nforcement of the hen while those proceedmgs are pClldll1g, hut only until such proceedmgs arc concluded; or (c) s\X:urcs from the holder of the lien ¡w agreement satJsfactory lo Lender sllburdl1\atmg thc Hell to thl,~ $CL:llrtly Instrllment. If Lender dctennllles !hat any part of the Property is subject tu a lien which clln nlla1l1 priority over thiS Seeunl.y Instrument, Lender lIIay give Borrower a not1ce identifying the lien Wilhm ¡ 0 days of the date on which that nonce IS given, Borrower shall sllnsfy the hen or take one or more of the actions set forth above 111 this Secuon 4 Lender may reqtIJre Borrower to pay a one-time charge for a renl estate tax verification and/or reporting service wed by Lender 111 connection with lIus Loan 5, Property Insurnncc. Borrower shall keep the Improvements now existmg or hereafter erected on the Property Insured against loss by fire, hazards tncluded withm the leon "extended coverage," a.nd any other hazards including, but not Imllted lo, earthquakes and floods, for which Lender reqUIres Insurance. ThlS II1SUtance shall be mamtained III the amounts (lIlcludll1g deductible levels) and for the penods that Lender reqUires What Lender reqmres pursuant to the precedrng selltences call change durlllg the term of the Loan. The Insurance carner providlllg the Insurance shall be ch06en by Borrower subJect to Lender's right to disapprove Borrower's choice, which nght shall not be exercised unreasonably. Lender may reqUIre Borrower to pay, In Connection with lIus Loan, either' (a) a one-time charge for flood zone detenntnation, certitìcatlon !\I1d tl'aclemg services; or (b) a one-tune charge for flood zone determination and certification service¡¡ and subsequent charges each tllne remapplllgs or similar changes occur which reMonably might affect such detemunation or certification. Borrower shall also be responsible for the paymeut of allY fees Imposed by the Federal Emergency Management Agency III connection with the review of allY flood zone detennlllation resulting from an objection by Borrower If Borrower fails to mamtam any of the coverages described above, Lender may obtam insurance coverage, at Lender's OptlOIl and Borrower's expense. Lender IS under no oblIgation to purchase any particular type or amount of coverage, Therefore, sllch coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, agalllst any risk, hazard or liabillly and might provide greater or lesser coverage than was prevlollsly III effect. Borrower acknowledges that the cost of the Insurance coverage so obtamed might SlgI1ificautly exceed the cost of ÎI1Sllfl\nCe that Borrower could have obtained. Any amounts disbursed by Lender undol' t1us SecUol15 shall becolDe additional debt of Borrower secnre<1 by !JUS Security [nslnllneut. These amounts shall bear mterest at the Note rate from the ditto of disbursement and shal] be paYRble, with such IIIlerest, npon notice from Lender to Borrower requesting payment. Allmsurance. pohcles reqUIred by Lender and renewals of such policIes shall be subject to Lender's right to disapprove such pOhCles, shall Include a standard mortgage cluuse, and shall name Lender as mortgagee alldlor us an additional loss payee. Lender shall have the right t.o hold the policies and renewal certificatc.~. If Lender reqUires, Borrower shall promptly give to Lender all receipts of paid premiums Rlld renewalllotJces. If Borrower obtaIns any foml uf insurance coverage, not otherwIse reqUIred by Lender, for damage to, or destrucl10n of, the Property, such policy shalllOclude a standard mortgage clause ¡U1d shallllame Lender as mortgagee and/or as an addilJonalloss payee rn the event of loss, Bon'ower shall gIve promptllotlce to the Insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherWIse agree In wrltl11g,any II1surance proceeds, WYOMtNG-SlIlgle Fømily-Fllnnle MaelFreddle Mae UNIFORM INSTRUMENT ITEM T27891J1 (OOII)-MERS (Page 5 of 12 page.r) Form 30511101 OREA nAND. To OnIorCeU: HO().63().9393CF"" 816-181-1191 ú-Oû310 whether or not the underlYing Ulsurance was required by Lender, shall be applied 10 restoration or repair of the Property, if the restoration or repalf IS economically feasible and Lender's secunty IS not lessened. Duong such repair and restoration period, Lender shall have the nght to hold such Insurance proceeds until Lender has had an opportunlty to mspect such Properly to ensure the work has been completed to Lender's sati.sfaction, provided that such iuspeçtton shall be undertaken promptly. Lender may disburse proceeds for the rðpwrs and restöl'8tlon In a smgle payment or In a series of progress paymenl8 as the work IS completed. Unless an agreement is made III writing or Appltcable Law reqUlres interest to be paid on such IlIsurWlce proceeds, Lender shall \lot be required to pay Borrower any interest or eanlll\gs on such proceeds. ·F~ for pubhc adjusters, or other thIrd partIes, retamed by Borrower shall not be paid out of the Insurauce proceeds and shall be the sole obllgauon of Borrower. If the restoration or rep8.1r IS !lot econOlmcally feasible or Lender's secunty would be lessened, thc ItIsurance. proceeds shall be applied to the sums secured by thIs Security Instrument, whether or not then due, with the excess, if any, pHicl 10 Borrowe.r. Such I11surance procecds shall be applied Ullhe order provided for In Section 2 If BorTlJwel' abandons the Propel1Y, Lender may file, ne.gotlate IIIIÙ settle any available IIIS\lrAnce clann and related matters. If Burrower dol",s 1101 respond Withlll 30 day.~ to a llUl1ce from Lender that the IIISUrdJICe carrier has of1'ered to settle a dalln, thell Lender may negotiate and settle the claim. The 30-day penod will beg1l1 whe.n the notice IS given. In either event, or if Lender IIcql1lres the Property under Scclwn 22 or otherwise, Borrower hereby asSignS to Lender (a) Borrower's nghlß to allY IIISllrllnce proceeds In an amount not to e.xceed the amounts unpaid under the Note or thiS Secunty Instrument, and (b) any other of Borrower's nghl8 (other than the nght to allY refund of unearned premiums paid by Borrower) under all Illsurnl1ce policies covenng the Property, 1nsofar as such rights are apphcable to the coverage of the Property. Lender may use the Insurance proceeds eiÛter to repror or restore the Property or to pay amounts unpaid under the Note or thiS Security Instn1ß1ent, whether or not Ihen due. G, Occupancy. Borrower shall occupy, establish, and use the Propel.ty as Borrower's principal residence withUl 60 clays after the execution of this Secunty Instrument and shall contl.l1ue to occupy the Property as Borrower's princIpal residence for at least one year after the date of occupancy, unless Lender otl1erwlse agrus in writmg, which consent shall not be unreasonably withheld, or unless extenuatll1g clI'C:umstances eXISt which are beyond Borrower's control. 7, PreservotJon, Maintenance and PI'otection of the Property; Inspections. Borrower shall not deslroy, damage or Impmr the Property, allow the Property to detenorate or commit waste on the Property Whether or not Borrower Is resid1l1g 111 lhe Property, Borrower shall ma.ll1tam the Property in order to prevent the Property from detenoratmg or decl'ellsll1g III value due to 118 conditlOu Unless It IS determined pursuant to Section 5 that repair or restoraUon IS not econonucally feasible, Borrower shall promptly repair the Property if damaged to avoid further detenoral:lon or damage. If JIIsurance or condemnation proceeds are paid III connection with damage to, or the takIng of, Ûte Property, Borrower shall be responsible for repairlllg or restormg the Property only if Lender has released proceeds for such purposes, Lender may disburse proceeds for the repall's rold restoratIOn III a single payment or in a senes of progress payments as the work IS compleled. If the 11J3l1nUICe or condemnation proceeds ~ not sufficient to repair or restore the Property, Borrower IS not relieved of Borrower's obhgatlOn for the completIOn of stich repair or restoration. Lellder or Its agent may make rC¡1.~unable entnes upon and IßSpect10ns of the Property. If it has reàsonable cause, Lender lIIay II1spect the InteriOr of Ihe. Improvements 011 the Property. Lender shall give Borrower notice at the ttme of or pnor to such an mtenor IIlspectloll specifYing slIch reasonable cause 8, Borrower's Loan Appliclltion, Borrower shall be In default if, dUl1ng the Lo8.11 application prcx;:ess, Borrower or any persons or ellÛLJes acl.l11g at the. directIon of Bo,'rower or with Borrower's knowledge or consent gave materially fa.lse, misleadmg, or ltIaccllrale mfonIHltJou or statemenrs to Le.nder (or failed to provide. Lender WiUl material mfonnatlon) III COllllectlOIl with the Loan. Malerial representatlolls II1clude, but are not IUnlted to, representatIons concerning Borrower's occlJpancy of the Property as Borrower's prlnctpal residence. 9. Protection of Lender's Interest In the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements cOl1lamed i1lthis Secunty Iustrument, (b) there is a legal proceerung that might sIgnificantly affect Lellder's II1terest III tl1e Property and/or rights under this Secunty Instrwnent (such as a proceedmg in bankruptcy, probate, for condèmnat¡ou or forfeiture, for enforcemenl of a hen which may altaJ.n pnority over thIS Secunty Instrument or to enforce Inws or regulatIOns), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever IS reasonable or approprIate to protect Lender's It1lerest tn the Property and righl8 under this Secunty Instrument, Il1cludlllg protectmg and/or assessmg the value of the Property, and securIng and/or repairing the Property, Lender's acl10ns can 1I1clude, but are not hrolted to: (a) paYIng any sums secured by a Iten which has pnority over this Secunty Instrument; (b) appel1rtng III court; and (c) paY\llg reasonable atlorneys' fees to protect Its \IIterest in the Property and/or righls under thIS SecUrtty Instrument, Includ1l1g Its secured position 1\1 a bankruptcy proceed mg. Securing the Property Includes, but IS not ¡mllted to, enterl11g the Property to make repairs, ch8.1lge locks, replace or board up doors and wmdows, dr8.1n water from WYOMING-SIl111le FAl1Iily-Fannie MnelFrcddle Mac UNIFORM INSTRUMENT ¡rEM T27G9l6 (OOI1)-MER9 (Page 6 of 12 pages) Form 30511101 QFlEATtAND . To Order eap: 1~0II'630-9393 C Fax: 618-791-1131 (; 00311. pipes, elunmate buildmg 01' other code violal1ons or dangerous condiuons,and have utilities ·turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and IS not under any duty or obbgation to do so IllS agreed that Lender incurs no liabihty for not takmg any or all actions authonzed under thIS Section 9. Any amounts disbursed by Lender under thiS Section 9 shaH become additional debt of Borrower secured by thiS Secnrlty Il1stl'Ul11cnl. 111ese amonnts shall bear interest at the Note rate from the date of disbursement and shall be payable, with sllch II1terest, upon notice from Lender to Borrower requestmg payment. If this Security Instrllmenl 15 011 a lensehold, Borrower shllll comply with aU the provisions of the lease. If Borrower ReqUires fee title to the Propel1y, the lell.~ehold and the fee title 8hallllot merge uuless Lender agree.~ to the merger in wrillng, to. Mortgage Insurance. If Lender reqlllf\:.d Mortgage LnSl1IlIm;e as a conditIOn of making the Loan, Borrower shall PAY the prellllUITIS reqlllred to mamtalll the Mortgage Insurance 111 effect. If, for any reason, the Mortgage Insurance coverage rC< lIlred by Lender ceases to be available from the mortgage iusl1Ier that prevIously provided such 1I1S11f8IICe and Borrower was reqUIred to make separately designated paymcnts toward the prenl1UmB for Mortgage Insumuce, Borrower shall pay the prenllun1S reqlllred to obtllln coverage substllntially eqUlva\e.nt to the Mortgage Insurance prevIOusly In effect, at a cost substantially eqUIvalent to the cost to Borrower of the Mortgage Insurance prevIOusly in effect, from an alternate mortgage tI1surer selected by Lender. If subst.antially eqUivalent Mortgage Insurance covemge IS not available, Borrower shall conUßue to pay to Lender the amonnl of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retam these payments as a non-refundable loss reserve 11\ !leu of Mortgage Insurance. Such loss reselve shall be non-refundable, notwithstanding the fact that the Loan IS ulnmately paid In full, and Lender shall not be reqlllred to pay Borrower any Interest or earnll1gs on such loss reserve. Lender can no longer requirc loss reserve payments if Mortgage Insurance coverage (111 the amount and for the penod that Lender requJI'cs) provided by an IlISurer selected by Lender agalll becomes available, IS obtamed, and Lender reqUlI'C.'I separately designated payments toward the premiums for Morlgage Insurance. If Lender reqUired Mortgage Insurance as a conditJon of makmg the Loan and Borrower was required to make separately designated payments toward the premIums for Mortgage Insurance, Borrower shall pay the premiums reqUIred to mamtalll Mortgage Insurance m effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends 111 accordance with any wntten agreement between Borrower and Lender providing for such tel'tlllnlltlon or until terml11ation fs rcqll1red by Appltcable Law. Nothmg 111 thIS Section 10 affects Borrower's obligation to pay IIIterest at the rate provided 111 the Note. Mortgage Insurance rennbucses Lender (or any entity that purchll8es the Note) for certam losses It may mCI1I if Bon'ower does not repay the Loill11l8 agreed. Borrower is not a party to the Mortgage Insurance. Mortgage !Usurers evaluate theIr total risk on 1111 such IUSl1IanCe In force from tllne to tllne, and may enter 11110 agreements with olher parties that share or modify their risk, or reduce losses. The.~e agreements are on tenns and conditions that are ~atisfactory to the mongage IIIsurer RIICi the other party (or partfes) to these agreements These agreements may reqlllre the mortgage msurer to make payments usmg any source of limds that the mortgage insurer may have available (which III~Y Include funds obtained frum Mortgage Insurance. premlUm~). As a result of these agreement.~, ull¡]er, !IllY purchllScr of tl1e Note, anolher Insurer, any remsurer, any other entity, or ¡lilY afnllale of any of the foregOing, may receive (directly or U1dlrectly) amounts that de.l1ve from (or might be cha.ractenzed as) a portion of Borrower's payments for MortgH.ge IJlSl1Iance, In exchange for shanng or modifying the mortgage Insurer's risk, or reduclllg losses. If 8uch agreement provides that an amltate of Lender takes a8hare of the Insurer's risk In exchange for a share of the pren1Jums paid to the msurer, the arrangement IS often termed "captJve reinsl1Iancc," Fwther: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not eoUtle Borr-owel' to any refund. (b) Any such agreements will not affect the rights Borrower has-if any-with respect to the Mortgage Insurance under the Homeowners ProtectiolJ Act of 1998 or any other law. These rights may Include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to reeelve a refund of any Mortgage Insurance premiums that were unearned at the time of such cDucellatlon or termlnatlon. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All MIScellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property IS damaged, snch Miscellaneous Proceeds'shall be apphed to restoration or repau of the Property, if the restoration or repatr IS ecol1oltl1cally fell8ible and Lender's secunty 18 not lessened, During such repair and restoration penod, Lender shall have the right to hold such MIscellaneous Proceeds uulil Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfacuon, provided that such inspectJon shall be undertaken promptly. WYOMING-Sinp;le Family-Fonnle MocIFredllle Mac UNIFORM INSTRUMENT ITEM Ta7BIIl7 (0011)-MEa8 (Page 7 of / 2 paga) Form 30511/01 QREA T\J\ND . To CrdorCoII: 1-8DII-S3D-1I31130fllC 616-791-1131 .iL úOú312 Lender may pay for the repmrs and restorMIOII III a SlI1glð disbursement or In a series of progr~ payments as the work is completed. Unles., an agreelllcllt IS ¡¡¡¡,.de In writlllg or Apphcable Law requires mterest to be paid on such Miscellaneous Proceeds, Lender .~haJ\ not. be n:qLllre.d to pay BOIT<Jwer any interc..sr or eanungs on such MIScellaneous Proceeds. If the restoration 01' repair IS not ecollOlIlH.:ally fea.~¡hle or Lender's secunty wotùd be lessened, the Miscellaneous Proceeds shall be appl1ed to tl1<.~ smns secured by tius SectU'lty Instrument, whether or not then due, wit,h the excess, if any, prod to BOlTower Such MISCellalleous Proceeds shall be applied 111 the order provided for 111 Sectton 2 In the event of a tolal tak1l1g, destructIon, or !oss \1\ value of the Property, the Miscellaneous Proceeds shall be apphed to the ':Hllns secured by this Secunty Instmment. whether or not then due, with the excess, if any, paid to Borrower. In Ihe evellt of apllltia! tak\l\g, destmctlon, or loss 111 valuð of the Property In which the I'm 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 Secllnty Instrument Immediately before the partial takmg, destruction, or loss 111 value, unless BOlTower alld Lender otherwise agree III writmg, the sums secured by this Secllrlty Instrument shàll be reduced by the amollnt of the Miscellaneous Proceeds n1Ultlplied by the followmg fraction: (a) the total IlIllount of the sums secured immediately before the partial taklllg, destructIon, or loss III vlllue dIvided by (b) the falf market value of the Property Immediately before the partial tak1l1g, destn.lctlOn. or loss 111 value. Alty balance shall be paid to Borrower In the evenl of a partial takll1g, destruction, or loss to value of the Property m which the fair market value of the Property 1I11mechately before the partial takmg, destructlOll, or loss in value IS less than the: amount of the sums secured Immediately before the partial takmg, destructIon, or loss III value, unless Borrower and Lender otherwise agree 11\ writing, the Miscellaneous Proceeds shall be applted to the sums secured by this Security Instrument whether or not the sums are then due. If the Property IS abandoned by Borrower, or if, after DoUce by Lender to Borrower that the Opposmg Party (!Is defined 111 the next sentence) offers to make an aw!\Cd to settle a clrom for dlllnages, Borrower fails to respond to Lender withm 30 days after the date the notIce IS gIven, Lender IS authonzed to collect and apply the Mlsçellaneous Proceeds either to restoration 01' repair of the Property or to the sums secured by thIS Security Instrument., whether or not tllen due. "Opposing Party" means the third party thlll owes Borrower Miscellaneous Proceeds or the party aglllnst whom Borrower has a right of action 111 regard to Mlscc;.lIallouus Proceeds BOlTower shall be 111 defaull if any action or proceedlllg. whether civil or cnmmal, IS begun that, III Lender's judgment, could re.mltlll forfeiture of lhe Property or other matcrialllnpatnnclIl of Lender's IIlterest lß the Property or right.~ under this SçCUnlY Instrul'IIclIl. Borrower can curc such a default and, if acceJeral10n has occurred, remstate as pl'Ovided In Secl10n 19, by clIUSlIIg the fictIon or proceeding to be dlstIllssed with a rulmg that, 111 Lender's Judgment, precludes forfeiture of the Property or other materia] Impairment of Lender's mlerest 1II the Property Or fights under this Security Instrwnent. The proceeds of IlIIY award or,cllllln for dlllnage.s thllt lire attributable to the Impamnent of Lender's mterest in the Property ø.re hereby IISslgned and shall be paid to Lender All Mtscellaneous Proceeds thai, are not applied to restoration or repair of the Property shall be applied in the order provided for 111 SectIon 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the SIlins secured by thl8 SecUf\ty Instn.lmeut gmnted by Lender to Borrower or any Succe:¡sor 1\1 Interest of Borrower shall not operate to release the liability of Borrower or aIlY Successors in Interest of BOlTower. Lender shall not be reql\Jred to commence proceedmgs agalßst 1lI1Y Successor in Interest of Borrower or to refuse to exlend tIme for payment orotherwJse modify amortlzatlol1 of the sums secured by this Secunty Instrument by reason of allY demalld made by the ongltlal Borrower or any Successors In Interest of Borrower. Any forbearance by Lender JI1 e¡¡erClslIIg any fight or remedy IIlcludltlg, without limitatIon, Lender's acceptance of payments from thIrd persons, entities or Successors ItI Interest of Borrower or In amounts less thlll\ the amount then due, shall not be II waiver of 01' preclude the exercIse of any rIght or remedy 13. Joint and Several Liability; Co·signers; Snccessors and Assigns Bound. BOlTower covenants and agrees that BOI1'ower's obligations and liability shall be jOll1t and several. However. any Borrower who co-Signs thts Secunly Instrument bllt does not execute the Note (a "co-signer"): (a) \S co-sIgning this Secunty Instrument only to mortgage, grant and convey the co-signer's ll1terest /1\ the Property under the terms of thts Security Instrument; (b) is not personally oblIgated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower CaIl agree to e¡¡tend, modify, forbear 01' make any accommodatIOns with regard to the terms of this Secunty Instrument or the Note without the co-slgner's consent Subject to the provisIOns of SectIOn 18, any Successor in Interest of Borrower who asswnes Borrower's obligatIons under this Security Instrument 111 writing, And IS Approved by Lelld~', shaH obtain aU of BOlTower's rights and benefits under ITEM T2789U (OOII)--MERS (Page 8 of 12 pClg..) Form 30511101 GREATlAND. To onter con: HlOo-63O-9393 OF..: 616·791-1131 WYOMING-$III¡¡(e Family-Fannie MaelFl'eddl. Mac UNIFORM INSTRl1MENT ÜO&313 this Security Instrument. Borrower shall not be released from Borrower's obligations and liabibty under thiS Secunty (nstrument unless Lender agrees to such release 111 writmg. The covenants and agreement.~ of th1s Security Instrument shall bllJd (except as provided 111 Section 20) and benefit the SIIC=OI'8 aud assigns of Lender 14. Loan Charges. Lender may charge Borrower fees for service., perfomled III connection with Borrower's default, fa ' the purpose of protecting Lender's IIIterest 111 the Property and nghts under this Secunty Instrument, 1IJcluding, but 110t !inuted to, attol'l1eys' fees, property 1I1spectlon and valuation fees. In regard to any other fees, the absence of express authority 11\ tlus Security Instrument to charge a specific fee to Borrower shlÙl nol be construed as a prohibition on the chargmg of such fee. Lender may not charge fees that are expressly prohibitw by thIS Secunty Instrument or by Apphcable Law If the Loan IS subject to a law which sets maX1mum loan charges, and that law IS finally mterpreted so that the interest or other loan charges collected or to be collected 111 connectIon with the Loan exceed the penn1tted hnuts, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pecuntted limit; and (b) any swns already collected from Borrower which exceeded penTIltted limIts will be refunded to Borrower. Lender may choose to make thiS rc 'ulId by reducmg the principal owed lIlIder the Note or by makmg a direct payment to Borrower. If a refund reduces prulclpal, tho reductIOn will be treated as II partial prepaymenl withoul any prepayment charge (whelher or not a prepayment charge IS provided for under the Note). Borrower's acceptance of any such refund made by direct payment to BO/TOwer will con~lilute II wl\lver of any rlghluf actmn Borrower might hlwe arislIIg out of such overcharge. 15. Notices. All nola;e.s gl ven hy Borrower or Lender 111 cnlmecunn wilh this Security Lnstr\1ment must be in wriUlIg Any nollce to Borrower In conne.cUon with this SecuClty Instrulllml shull be deernoo to have been given to Borrower when mailed by first class mail or when actually delivered to BOITower's nollce address if sent by other means. Notice to anyone Borrower shalJ constitute notice to all Borrowers uuless Applicable Law expressly reql11res otherwise. The noltce address shall be the Property Address unless Borrower has designated a substitute noUce address by notice to Lerlder. Borrower shall promptly notify Lender of Borrower's change of address. (f Lender specifie.~ a procedure for reportmg BO/TOwer's change of Address, then Borrower shall only report It change of address through lhat specified procedure. There may be on1y one designAted notice address under this SecUrity Instrument at anyone tune. Any notice to Lender shan be gIVen by delivenng it or by l11aihng It by first class maílto Lender's address stated herem unless Lender has des1gnated anolller address by notice to Borrower. Any noUce III connectIOn with thIs Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. (f any notice requIred by this Secunty Instrument is also requued under Applicable Law, the Applicable Law requIrement will satIsfy the cOITespondulg requIrement under tillS Secunty Instrllltlen\. 1G. Governing Law; Severability; Rules of Construction. ThIs Secunty Iustrumerlt shall be governed by federal law and the law of the JUrisdIction 111 which the Property IS located. All nghts and obligations conta-med 111 tlus Secunty Instrument are subject to any reqtl1rements and Inllltal.1ons of Applicable Law. Apphcable Law might explicilJy or implicitly allow the partIes to agree:. by contract or It might be silent, but such silence shall not be construed as II prohibitIon agllmst agreement by contract In tile event that any provisIOn or clause of tlus Secunty Instrument or the Note conflicts with Apphcable Law, sllch conflict shl1llnot affect other provisions of this Security Instrument or tile Note which can be gIven effect WiUlout the confhctill8 provision As used 111 tins Securtty Instrument: (II) words of the masculme gender shall mean !Iud include correspondmg neuter words or words of the femilllne geL)de.r; (b) words 11\ the slIIglllar shlÙl mean and Include the plural and Vice versa; and (c) the word "may" gIves sole dIscretion without any obligation to take allY action 17. Borrower's Copy. Bon'ower shall be gIven one copy of the Note and of thIs Security Instrumenl 18. Transfer of the Property or n Benelicial Interest in Borrower. As used m thiS Secb.on 18, "Interest In the Propeliy" means any legal or beneficial mterest III the Property, lI1cludmg, but not lllmted to, those beneficial Interests transferred III II bond for deed, contract for deed, 1I1stalhnent sales contract or escrow agreement, the mtent of which IS the trAnsfer of title by Borrower at II future date to a purchaser. If all or any part of the Pt'O[1crty 01' fU1Y Interest 111 the Property IS sold or tral1sfeITCd (or if Borrower IS not a natural person and II beneficial mterest 111 Borrower IS sold or transfe.rred) withuut Lender's prior wntteIJ consent, Lender may reqlure 1tnmedlate payment 111 filU of all slims secured by thIs Secunty In~l.rwnel1l. However, thIS opuon shall not be exel'cl.çw by Lender if such exercise IS pl'Ohiblted by Apphcable. Law. If Lellder exercIses thIS option, Lender shall give BOITQwer notice of acceleration. The notice shall provide a period of lIot less than 30 days from the date the lIol.1ce IS givell ill accordance with Secl1ol1 15 withlll which Borrower must pay all slims secured by this Secut'lty (nstrllmenl. If BO/TOwer fails to pay these Slims prior to the expiration of this period, Lender may IlIvoke any remedies penmued by Ulis Security Instrument without further nottce or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. IT Borrower meets certaIn conditions, Borrower shall have the right to have enforcement of tl11S Secunty IlIstr\l111e11t dlsconttnued at any time prior to the earliest of: (a) five days before WYOMJNG-S11I81~ Pan\Uy-Fnlluie MMlFreddia Mac UNIFORM INSTRUMENT ITEM T27S9L9 (0011)-MERB (Page 9 of 12 pages) Form 3051l/C11 GReATl.ANO . To Order 011: hlOo-631)'! II93CFax: 616-791-1131 OOû3j.4 sale of the Property pursuant to any power of sale contaJßed Lß tlus Security Instnlment; (b) such other penod as Appltcable Law might specify for the tennmat10n of Borrower's right to remstate; or (c) entry of a judgment enforcing this SeclInty Instrument Those conditIOns are that Borrower: (a) pays Lender all SlUns which then would be due under Ilus Security Instrument and the Note as if no accelerat10n had occurred; (b) cures any default of any other rovenants or IIgreemenl8¡ (c) pays all expenses 1\1(;urred 111 enforcing tlus Security Instnllnenl, IncludIng, bnt not lunlted to, reasonable attorneys' fees, property Inspection and valual10n fees, and other fees Incurred for the purpose of protectmg Lender's interest m the Property and rights under this Secunty Instrument; and (d) takes such action as Lender may reASonably require to assure that Lender's mtcrest In the Property and nghts under this Secur.Jty Instrument, and Borrower's obligation to pay the swns secured by this Secunty Instrument, shallconltnne unchanged. Lender may requIre that Borrower pay such reinstatemenl sums and expenses II} one 01' more of the follow1l\g forms, as selecled by Lender: (a) cash; (b) money order; (c) certified check, bank. check, treASurer's check or cashier's check, provided any such check IS drawll upon an institutIOn whose deposits are lß8ured by a federal agency, Instnllnenrnhty or entity; or (d) Elecu'onlc Funds Transfer. Upon rell1statement by BOlTower, this Secunty Illstrlllllenl alld nbltgRtlOI)S secured hereby shalll'emain fully effective as if no acceleration had occurred. However, thiS nght tu rctllslate sballnot apply In the case of acceleration under Section II!. 20. Sole of Note; Chnnge of Loan Servicerj Notice of Grievance. TIle Note or a part!;ù tnterestm the Note (together Witll this Security Instrument) can be sold olle or more time.<; without pnor notice 10 Borrower. A sale might result III a cbange III tile entity (known as tlm "Loan Servlcer") that collects Periodic Payments due Wider the Note and thIS Security Instrument and performs other mortgage loan servicmg obligatlon.~ under the Note, tlus SecurIty Instrument, and Appltcable La w. There also nllght be one or more changes of the Loan ServiceI' unrelated to a sale of the Note. If there IS a change of the Loan SerViCeI', B01T1JWer wi11 be given written notICe of the change which will stale the name and addreßs of the new Loan SerViCeI', the address to which payments should be made and any other informatIon RESPA requires In connection with a nollCe of tmt1sfer of servicmg. If the Note IS sold and thereafter the Loan IS servtced by a Loan ServiceI' other than the purchaser of the Note, the mortgage loan servic1l1g obhgallOlJs to Borrower will remmn with the Loan Servlcer or be transferred to a successor Loan ServiceI' and Me nol assumed by the Note purchaser unle.<;s otherwIse provided by the Note purchaser Neitber Borrower nor Lender may commence, jOlll, or be jOined to any Judicial action (as either an mdlvidual til1gallt or the member of II ClASS) that arises from the other party's actlolls pursuant to Ilus Secunty Instrument or that alleges tllat the other party has breached allY provision of. or any duty owed by reason of, this Secur1ty Instrument, tulti! such Borrower or Lender has notified the other party (with such notice gIven In compl1ance with the requirements of SectIon 15) of such alleged breach and IIfforded the other party hereto a reasoDable pe.nod after the giVIng of such notice to take rolTCCtive action If Applicable Law provides a time period which must elapse before certain action can be taken, that time period wm be deemed to be reasonable for purposes of thiS parllgraph. The notice of acceleral.1on and opportunity to cure gIVen to Borrower pursuant to Section 22 and the notice of ncceleral1011 given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportumty to take correct! ve action provisIOns of thIs Sect:Jon 20 21. Hazardous Substances. As used in tllIS Section 21: (a) "Hazardous Substances" are tJlose substance.<; defined as tOXIC or hazardous substance.<;, pollutants, or wastes by Environmental Law and the followmg substances: gasoline. kerosene, other flammable or tOXIC petroleum products, lOXIC pesl1cides and herbicides, volatile. solveuts, materials contalßJI1g a..~bestos or fonl1aldehyde, and radioactIve materials; (b) "EnvJronJ1lenllll Law" means federal laws and laws of the JUrisdiction where tile Property IS located that relate lu health, sarcly or envIronmental protectwn; (c) "Environmental Cleanup" II1cludes any re.<;ponse action, remedial actlOtl, or removal ac.:tlOn, as defined In EnvIronmental Law; and (d) an "Environmental Condil1on" means II condition that can calise, c.:onllibute to, or otllef\VISe tngger an Environmental Cleanup Bon'ower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or 111 the Property. Bon-ower shall not do, nor allow anyone else to do, anythll1g affectlllg the Property (a) that ]S III Violation of any Envlroumental Law, (b) which creates an Environmental Condition, or (c) which, due to the pre.<;ence, use, or release of n Hazardous Substance, create.<; a conditIon that adversely affects the value of the Property. The precedmg two sentences shall not apply to the p~esence, use, or storage on the Property of small qunntitle.<; of HRzardollS Substances that are generally recog1lJzed to be appropriate to nonnal residential uses and to nlRlIltenance of the Property (lIIcludmg, but not IUnlted to, hazardous substances ]J1 consumer products). Borrower shall promptly gIve Lender wrJtten notJce of (a) any IltVestlgahou, claun, demand, lawslllt or other I\Ctlon by any govcl'I1mental or regulatory agency or pnvate party JI1volvlng the Property and any Hazardous Substance 01' Environmental Law of which Bon-ower has aClllal knowledge, (b) any Environmental Condition, mcludmg but not limIted to, any spillmg, leaking, dIscharge, release or tllreat of release of any Hazardous Substance, and (c) any condition caused by the ITEM T2769L10 (OO11}-MERS (Pas" 10 of 12 pages) Form J051llUl GREAMNO. To Ordor Call: 1-600-530-9393 [ Fax: 616-791·1131 WYOMING-Slnglo F~l11ily-Fannie MaelFreddlo Mac UNIFORM INSTRUMENT ÜOv31.5 presence, use or release of a Hazardous Substance whJch adversely affect.s the value of the Property. If Borrower learns, or IS notified by !lny governmental or regulatory authority. or any private party, that any removal or other remediation of any Hazardous Substance affccl1ng the Property is necessary. Borrower shall promptly take all necessary remedial actions Iß accordance WitJl EnVIf(Jllmenlal Law. Notlung herem shall create any obligatIon on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and LI~nder furthcr COVenant and a.gree liS follows. 22. Acceleration; Remedies. Lender shall give notice to ßorrower prior to acceleration following Borrower's brc¡¡ch of nny covennnt or agreement in this Securlt)' Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The nOÙce shull specify: (D) the default; (b) the action required to cure the dernull; (c) a date, not less than 30 days from the date the noUce is given to Borrower, by which the default musl be cured; and (d) that failure to cure the default on 01' before the date specified In the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Properly. The notice shall further inlorm Borrower of the right to reinstate after acceleration and \.he right lo bring a court action to assert the nnn-existence of a default or any otber defense of Borrower to acceleration and sale. If the default Is not cured on 01' before the date speclOed in the notice, Lender at its option may require immediate payment In full of all sums secured by this SecurIty Instrument without further demand and may Invoke the power of snle and any other remedies permitted by Applicable Law. Lender shall be entitled to collect 1111 expenses Incurred in pursuing the remedies provided In this Section 22, Including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender InvolÅ“s the power of sale, Lender sball gIve notice of Intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrowor In the !nanncr provided in Section 15. Lender shaU publish the uotice of sale, and the Property shall be sold In tlte manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shan be applied In the following order: (a) to all expenses of tlte sale, Including, but not limited to, reasonable aUorneys' feesi (b) to nil Bums secured by this Security Instrument; and (c) IIny excess to tbe person or persons legally entitled to It. 23. Release. Upon payment of aU SlUUS secured by tlus Secunty Instrument, Lender shall release lhls Secunty Instrument. Borrower shall pay any recordatIon costs. Lender may charge Borrower a fee for releasing tlus Security Instrument, but only if the fee Is paid to a thIrd party for ServICes rendered and the charging of !he fee IS pennitted under Applicable Law 24. Waivers. Borrower releases and waives all tïghts under and by vlflue of tile homestead exemption laws of Wyol1l1ng WYOMlNG-SlIIgle FAmily-Fannie Mae/Freddie Mot UNIFORM INSTRUMENT ITEM T2769L1' (OO11)-MERS (Page II of 12 page.!) Form 3051 UOl QREATLANO. To Ordorc.II' 1-11OG-S30·9\J9SIJFu: 816-791-1131 00û31.6 BY SIGNING BELOW, Borrower ¡{\:cepls and agrres to the. te.rrns and covenants contained 1U pages 1 through 12 of ,thiS Seèunty InstrlllJ1cnt and Jl1 any R~der executed by BOITOWa- and rec~~or e with II Qa;, f1/ /)1¡)l.WJÙ (S~I) ~-- (Sod) Parry M. D vlson -Borrower Fred ,Baldwin -Borrower ~~ ~~ .Borrower -Borrower (Seal) (Seal) .Borrower -Borrower Wllncss Witness; State 01' Wyoming COl1ntyof Lincoln ) ) S5 ) The foregoIng 1I1strumcnt was acknowledged before me by Parry M. Davison and Fred A. Baldwin thIS 26th day of August, 2008. Witness my hand alldofficial seal d2-$Á~~.~.. LORI KAlAN - NOTARY PUBLIC COUNTY OF STATE OF LINCOLN WYOMING My Corrmssion Expires Feb. 26. 2011 My commiSSion expIres: 0*6 þ/ I WYOMING-SIIJgl" Family-Fonnle MuelFreddlc Mac UNIFORM INSTRUMENT ITEM T2769112 (001 It-MERS (Pagø 12 Qf 12 pag..,) Form 30511/01 GReA '!\..AND . To OrûerCaI, HOo-saQ-1I3130Fax' 616·181-1131 Exhibit A File 6010816583 Description ûOô3~7 The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is described as follows: A Parcel ofland located in the Southwest Quarter of Section 5 of the Resurvey of Township 21 North Range 115 West, 6th P.M., Lincoln County, Wyoming, to wit: Commencing at t West One-Quarter Corner of said section 5, Thence South 0°06'49" East 380.65 feet to the true point of beginning. Thence South 82°31 '36" East 2427.69 feet to a point; Thence South 2°52'18" East 600.63 feet to a point; Thence North 86°48'16" West 2439.41 fee to a point; Thence North 0°06'47" West 779.65 fee to the true point of beginning.