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HomeMy WebLinkAbout87399701014730 Return To: Prepared By: DEFINITIONS 6A(WY) (0005) Page 1 of 15 VMP MORTGAGE FORMS (800)521 -7291 AURORA LOAN SERVICES INC. 2530 SOUTH PARKER ROAD, SUITE 601 AURORA, CO 80014 JOAN ELLIS LEHMAN BROTHERS BANK 5235 WESTVIEW DR., SUITE 102 FREDERICK, MD 21704 873997 [Space Above This Line For Recording Data] MORTGAGE MIN Words used in multiple sections of this document are defmed below and other words are defmed in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated together with all Riders to this document. (B) "Borr DAVID L PAXTON AND KATHY S PAXTON,,husband and =:wife Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized 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 Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3051 1/01 Initials: BOOK 4 PR PAGE i i 4 2 100025440000100625 June 13, 2001 RECEIVED LINCOLA COUNTY CLERK 1 JUN 1 PA f 1: 4 7 JEANNE 4 try',' sGi'JER ESCROW 414Miifib LOAN 0011230711 1 1 11 1 1 lli 111111 TTLOEZIIOO dds IlaPun „uuoi aSESlioui pa1EIaI ttiiEiapaj „ESE Ajnenb 1ou saop uEO-i aq3 ji uana „tiro! agegliom paleial ttlleJapa E 01 pie$ai ui pasodul( an? imp suonolilsa1 pue sluauzannbai rig 01 siajai .ddSg2I„ `luaumilsuLA1I1113aS sill 111 pasn sl 'Jamul loafgns awes aill sulanoS 1E11 uoilerraal i0 110111 TSISai SossaOOns 10 [EUO11ippe Aue 10 `aural 01 21111 111o13 papuauiE aq 11$tm Amp se `(OOS£ iied'2I'd'j bZ) X uouern2a21 `uoueinSai &uiluauiaiduzi s1t pub (ins la i09Z uotloaS 'a'S'n Zi) 13d sampaoold luaUlaillaS a18lsg ieag ails STEaui „ddSDIL1 (d) •luaumilsui iSninaos sup jo uotloaS iapun slunouze Aire (ii) snid `alobl ails iapun lsalalut pue iedtaupd (i) ioj anp lunouie palnpalas /ireinsal ails sueaui ;uaw,fgd alpolaad„ (0) alp `uo gnejap io `Jo luauikEduou aip 1suIE2E iapua Supao oid aoueinsUn suuaui „aaugansui a2gniomT„ (m) •,iliadoid atT1jo uotlipuoo 10 /pue amen all `01 SE SUOISSTWO 10 `JO Suuot1E1u0So1dalSFU (rat) 10 :u011EUUZapuoo 3o nail ui aOUEi(0n1103 (tit) :A110dold all 30 lied t(UE 10 ire Jo Suprel ia110 10 U0UEUUIapu00 (n) :/i110dO1d affil 'Jo uouoniisap io `ol a$Euiep (t) :10; (S uotloaS ui paqu sap Sa2Elanoo ogl lapun ptud spaaaold aou8lnsui uell iaglo) /Cured pip ,(ue ,Cq pied spaaooid 10 `SaSEUIEp jo p18ME 'mammas `uoi NSUaduzoa Aug sueaui „spaaaoad snoaugl1aas jt 44 (j) uotloaS ut pagilasap 018 1811 swan aso11 swam „swan Atoaasa„ (7) •S1a3Su811 asn0q$ui1Eal3 pa1Ef0ln8 pub `slajsuull OITM `auot daral palrilmt slaJsuU11 `suounsuull murmur larral pa1EUloln8 `S1ajsU811 ales-Jo-Rod `01 Pai ultl 1ou si 1nq `sapnTout miol Bons •1uno00E uE lipaio 10 Nap o1 uoUnlilsui rEIOUEUiJ E azilogln8 10 `1on11sui `iaplo 01 SE os ad8l Ot1auSEUZ 10 `lalnduIoo `luaunulsul onoldaral `reutuilal otuoIloara uE 4$no1g1 pa1Eillui si g3igM `luaumllsui laded 1811W1s 10 `g81p `Noalo Aq pal8U!Slio uOIIOESIIEi1 E UEg1 1ag10 `spunj JO 1aOsue11 Au stream „aaJsunaJ, spunA aluoalaald„ (N) •uo118ZLUE210 1ETIUIIS 10 UOUEIOOSSE SIOUMOOWO1 `U011E!OOSSE Umlu1WOpUO3 E Xq fi11ado1d am 10 1aMO11og uo posodiui 01E 1811 sa$1E10 lamo we S1uaUISSass8 `Saaj `sang ire stream „s ;uaWSSassS pug 'saa3 `Sang uo1;8POSSV Smunuiu o3„ (r) •suomido TEtatpnf arg8ruadd8 -uou `ieuij alg8oiidde llE se LIOM SE (MEI 30 loaJJa all annl leap) siapl0 pue saint anilellstuiuipe pue sa0UEUtp10 `suouern2a1 `salnlels mmooi pue almis IE1apaJ aigeaiidde Sugiolluoa rib stream „Ater' aiquailddd„ (1) [Anoads] (s) 13PIJ Arimed tr i iaptg auIOH puooaS 991to9a68d 10pi21 1uauII 8d 'ipiaamtg laptml luaWdolanaU llufl Pa Id Jam umtunuopuoD (soon) (AM)v9 %20 1 aPi2I VA lapili uooiieg iaptml aleg aigelsn[pd [argeotrdde se xoq xoairo] 1OMO110g Xg palnoaxa aq o1 OM siaprj 2uiMolloj a1j •laM011og ,(q palnoaxa a1E 1811 ILIOUMASUI 41800S sill 01 slam nu stream „saapi?i„ (H) Isamu! surd luaUlnllsui 1iltmaas sill lapun anp sums HIE p1E `aloisi all iapun anp saSJE13 am! we Saa1E1a luauliiedaid 1(ue `lsalalut surd `aloN all 1q paauapina lgap am sueom „ugo7„ (0) t(11ado1d all in s11 1 jo iajSuolZ &npeal all iapun Molaq paquosap si 1811 Alnadold 311 sueaui „Alaadoad„ (3) T E 0 Z T Ainr u8111a18J 1ou !1113 ui iqop all led o1 pue s1UauIXEd olpotiad 18if2ai ut lgap sill /(Ed 01 pasiuloid 98911aMO11og •lsalalui snid 0 0 0 OS 8 6 s n S1elmma 00T/00 '9 unman”' snia a&VsnoHS, ,LHDIS A.L$NIN lapU3 4 s 13MO11O1 1811 501815 aloN aiLL 100 Z 'ET aunt pomp pue 13MO110g 1q paUsis alou 1lossiuioid all stream „a4oN„ (a) i'0LTZ are 'xOI2tHaE2LI 'Z0T LLIfS •tia M,'diA.LsaM sEZS sI ssalppe S,lapu71 Y02?ISmK aI0 SsSYSS ambit) Jo sMEi all lapun 8utlslxa pUE paziueSio xMYH SDNIAYS `nrazaaai Est lapua1 xNYE SDNIAYS ZiIiaazaI Y' 'xNYS SIIUHSOl1 NYi4HHZ s! „aapua7„ (a) L.3 Parcel ID Number: 58 SADDLE DR ETNA "Property Address ®6A(WV) (0005) Page 3 of 15 Initials: 844 (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and /or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located m the County of Lincoln [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] All that tract or parcel of land as shown on Schedule "A" attached hereto which is incorporated herein and made a part hereof. which currently has the address of [Street] [City] Wyoming 83118 [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and 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 encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. 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Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance 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. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in 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 the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security 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 -6A(WY) (0005) Page 5 of 15 Initials: (3 4 -4s,/ Form 3051 1/01 IILO£ZITOO l; v u :s1e giUI SL {09a69d (soon) (AMJY9 qap 01 pandd11 aq !Tens spaaooad aouemsui aril `pauassai aq pinom Aumoas s io aigis11a3 Aiiuolmouooa 1ou si qudaa 10 uopuioisa1 ag1 •1amonog ;o uope5ggo ajos am aq !Tubs puu spaaooad aouulnsu! ammo ino pied aq 1311 !Tugs 1amoUUOg paurelar `saluud p1141 1a410 10 `saaisnfp11 oqqnd 1o; saad spaaooad gons uo s$tnuma 10 1s2101111 nitre 1amo11og Agd of pailnbaa aq lou !legs npua spaaooad aouumsm gons uo pied aq 01 lsaaalin saainbai mur alquogddd .ro 2uptam ut aputu si luatuaal2u ue ssalun •palaldtuoo si Aiom 0141 se sluaurAud ssa12o1d ;o sus u ui 10 luatu,Cud ai &uis u ui uotlglolsa1 puu snudai all .io3 spaaooad asmgsip lapua-I •Audtuoid ua3mJapun aq !lugs uopoadsum gons 1up poptnold `uoiloejsilgs s,.apua o1 palaiduioo uaaq seq N1om aril amsua o1 Alladold gons loads!!! o1 Auunuloddo uu peg se14 lapuaj iium spaaooad aouuansui gons ping 01 14211 am anu4 Begs lapua `pouad uopuaolsaa pug aiudaa gons min •pauassai 1311 s! *moos s pug aigisua3 Aiiuoiurouooa si .nodal so uo1luaolsaa 0141 ;i `Atradoid am jo nedaa ao uorlulolsai 01 paildde aq hugs `lapua7 paainbaa sum aouulnsu! 2uiApapun a41 lou ao 1a141aim `spaaooad a3ue1nsu! ,Cu `2ullilm ui 3a12R asrm1ag10 1amo110g pug lapua ss0iu1n •10mo110g ,iq Ajldmoid spew mu .i ssoi jo ;ooid Wiitu A E111 Japua7 •lapua7 pug 1311113 0311EmSU1 0141 01 0311011 1d11101d aAl2 fu14s 1amo11og `ssoi 30 1110n0 041 ul '00/(Ed ssoi puuontppe U11 sg so /pug aa2u211oUr sg Japua-1 aureu !Tugs pug asnuio a2uS11om paupuuls u apnioui hugs ,Cogod gins quadold a141 `3o uoi13na1sap so `01 a2utugp 1o; `1apua7 Aq paainbaa as1mlatil0 loo `a2elanoo aouumsU1 ;o 111133 ,Ctre su1glgo 1amo110g 31 •s031101.1 lumau01 pug sumiuraad pied jo sidiaoal llu lapua 01 ant2 'ildtuold !lugs JO/110110g `salmba1 lapua 3i •sa1g313t11ao iemaual puu saioi!od 3141 ping o1 1g8i1 3141 snug Bugs lapua •aaXed ssoi leuoilippe rig sg 10 /puu aa2g2110W s11 lapua-1 0t1u11 !lugs pug `asnulo agt2trour pagpuuls g apnptn !Tugs `sapITod gons anoaddeslp of 1142p s,lapur 01 loafgns aq !Tugs sap!iod qons jo s1umaua1 pue 1apu3 paainbaa sa!o11od aouuansu! •luamArd 2uilsanbal aamo1aog o1 aapuaZ tuoij 03!1311 uodn `1sa131u1 gons ipim `alquAud aq !lugs pue lu3urasingslp ;o alup aril tuoa3 01111 aloN aril lg 1sa131U! nag !Tugs sltmotuu asata •luau11t11sui Aginoas sup Cq pamoas lamoaaog ;o !gap luuoluppu aulooaq liege S uolloas s141 lapun lapua-1 .iq p3singsip wino= ,Cud •pauiglgo ant! moo 13M0110g 1141!1 a0U111nsu! ;o iso0 0141 paa0xa iiilug01JluSls 11421u1 patqulgo os 321110A00 aougansu! 0141 ;0 lso3 all lull sa2p3lmompu 13MO110g •103JJ0 ui AIST10r131d sum 1111141 atgaanoo lassai so 10111312 apinold 1gSiur puu Aug!! 10 pl11zug `)isl1 Alm 1su111211 `filmdold alp ;o slualuo3 a41 `Atiadold all 111 Xlinba s,1amo11og `1amo11og 10a101d 1011 11121u 10 11421w lnq `lapuaT 1ano3 hugs a2111ano3 gons `010;01041 •021113A00 ;0 lunotug 10 ad,i1 111n0lu11d i 1111 asutpind o1 U0rle21go ou 1apun s! lapun asuadxa s,lamo110g pug uotldo s,lapua 114 `32111ano0 301111ms111 Urelg0 !CEEB lapun `anog11 paquosap sa2e1ano0 am 30 Cue u1111UIum 01 sum 1am0110g •10m0110g Aq uopoafgo 1111 tuo1; 2ullinsar uopuulurlalap auoz pooh ,Cur ;o mamal all tll1m 1101130111100 111 ,Coua2d luatua2uu11IN jioua$10uig 1111apad aril Aq pasodui! saa; Niue jo luatuArd all 1o; alglsuodsa1 aq oslg !legs 1am0110g •uo1111ogl11a0 10 uolluuluualap gons loam 11.12utu Aig11uoseal 140114m 111000 s .relittns .10 s2uiddg1u0l 311111 40110 Sa2111140 luanbasgns pug s30tAIas u011110gi1100 pug Uorl11u1tuIalap auoz pooh 10; 02114143 aunt -010 11 (q) ao :sa0ln1as 2trnl3nal puu uo11110!p1a3 `uorlgtriuualap auoz pooh 103 0211140 011!1 -010 a (11) :1014!!0 `uuol sail 4nm 1101130111100 u! ',Cud 01 1am0110g aimbai ,!14111 lapua' •Aigguosuamn pasiolaxa aq 1ou !lugs !142!1 140T14m `001043 s anoldduslp 01 1142!1 s,1opua'I o1 loafgns 10M0110g Cq uaso140 aq !Tugs a0u111nsui 0141 $uipinold 10!01113 aougmsu! a14j •uuo -I a141 3o tidal 0141 2U1mp 02111140 11110 sa0ualuas 2uipaoald a141 01 urensind salmbal lapua0I 1111M •salinbai lapua-1 1E41 spouad 0141 103 pug (sianai aigponpap 2ulpnpu!) wino= a141 to paulelulum aq !Tugs aouumsu! sp141 •a0uelnsul sa11nba1 1apua'l 140igm 103 `spool; pug sa)111nb1411110 `01 palltu!! mu lnq `2Ulpnpur sp1uz1114 10410 nitre puu „`02111ano0 papuaixa„ rural am tri14ltm papnpu1 spurn!! `a1g ,Cq ssol 1SUre2g palnsu! Xlladold 0141 uo pa13a1a 101;1101014 10 21.111sixa moo sU0Uranoldun x141 dam! jJ114s 1 •aouu.Insul ,flladoad 'S •11113 Sail tll1m uo110auu03 to 1apua`l Aq pasn aoinaas 2u1210d01 10 /pure 11091OJuan x111 0111150 i11a111 1o; 0811143 a1n1 -auo 11 ,Cud o1 10M0110g aimbai Amu 1apua-I b UOrl0as 51141 u! anog111uo3 las SU011311 a141 ;o WOW 10 0110 0)1111 .10 uaii 041 AjSgES !fells 1am011og `U0Ai2 SI 009011 11141 140U4m 110 alup 0141 JO s,fup est, 6A(WY) moos) Page 7 of 15 Initials: 0 4 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 applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall 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 feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. 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 single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal 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 contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and /or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws 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 interest in the Property and rights under this Security Instrument, including protecting and /or assessing the value of the Property, and securing and /or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable Form 3051 1/01 0011230711 LOA L5t1£ w 6 1 g 10gaged (s000) (AM)V9 •punjaa Sue o; aantoaaog al ;i;ua ;0U !pint ,fat; pue 'aaueansui aSeSl oix ao3 onto HIM aantoaaog ;motor ow aseaaaui ;ou 'um s;uatuaaaSe tans •ueoq ay; ;o swan; aaq ;o Sue ao 'aaueansui o2821aomi ao} ,fed 02 paaar snq aantoaaog let; s ;unome alp pa, a ;ou in s;uatuaaaSe tans ,fay (e) :Jatplm3 „•aouemsmoi anildeo„ pamioi uago st luauza8ue11e aq1 `Jaansui atp o1 pied sumnuaid air jo aiegs g ao3 aBuEloxa ui xsiz s,aamsui all jo airgs E sa31u3 iapun jo alrggje ur pgtl sapinold 3uau1201Sg ions ji •sassop 2ut3npai J0 `Asp s,aaansut a8g831o111 ail Su!ApPout 10 ButJgls ao3 o uEloxa to `aouEmsUi a2E211OJA ao3 sluatu1ied s,1OM011Og jo uoiuod r (sr pazi1a10gigg3 aq 3i8itu 1o) uJ013 anilap 11111 slunoure (Aploaaipui 10 Siloalip) aniaoaa Amu `Suio2aao3 all jo Cue jo a1Egt33E iiue Jo `Xli1u0 1a1.110 tiuE `1alnsuta1 Aug '1alnsui aatloue `aloN air 3o Josrgolnd Aue `lapual `s1uauzaa1SE asatg jo ljnsai a sy (stunnuald aoueansui a8g2lloy%i Utou3 pauiepgo spunj apnptn Arm goigm) algglirne aneq Arm aalnsui a8E8uout alp pEtp spunj jo aomos AuE Suisn sluatuArd mint! of 1 insut a8E8uotu alp oimbai hero sluautaa12E °sou, spuatuaai2e asap of (saira11d 1o) ,lord Jogm all pue Jalnsut a8e8110ut atp 01 ,CJO1)ejsi1ES ajE Imp suoilipuoo pue swim uo a1E s411011100l8e asagZ •sassol aonpaJ 10 )isi1 1tag1 ifjipout 10 a1Ets 11111 saiued Jat10 grim sluautaaaSE 01ui 1alua Amu pue `atoll 01 aunt luau 0)103 ui aouU1nsui lions lie uo Asp Ir103. liatpl alenlena slams!!! aSgS110yni •aoueansui a8112110JA alp of /Curd g l0u si 10M0110g •paa1811 se tre0' all Aedaa r0u swop 10M0110g 3i mot!! 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Darold o1 saa3 ,siiauJoue �a4° (b) Any such agreements will not affect the rights Borrower has if any with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and /or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether 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 sentence) offers to make an award to settle a claim for damages, )borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, 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 Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed 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 Security Instrument. The 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 be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. Z) 6A(WY) (0005) Page 9 of 15 Initials: 0011230711 c r 't 9 l !o 01. aged (s000) GUAM" •luaumzlsui Aipnoas sTp iapun luauianmba1 2uupuodsoJJoo 01f Ajsprs IPM lualuaJmba1 Mel aTgepilddd 0111 `MEI algeoitddd Japun panmbai 094E si luauinllsul ,Cllmpas si ,iq pannbaz 0oilou Sue 31 Japual Aq paniaoaz ATI11mo11 "pun Japual o1 uaniS uaaq antg 01 paulaap aq 101 IT luaumzlsul knlnoas sup illiM uoiloauuoo ui ao11OU ,(lid •JaM011og o1 aotlou Aq ssaippe 101110U p01eu$isap set" Japual ssalun 111101011 paleis ssaippe s,iapual 01 41Eui ssep 1911 Aq i 2'!1!gm A Jo 11 2uuan14ap r(q uani2 aq Hulls Japual 01 aotlou Aud •aunt auo i(ur le luaumilsul Alilf0as sup Japun ssaippe a0pou paleu2usap 0110 /quo aq Arm aiouj •ampaooid pai 111111 q$nonip ssaippe jo aBueilo a 1Jodai Sluo 4411gs JaMolzog uaill `ssaJppe jo a2uego s,JoM011o11 21191odoi Joj ampaoozd E sai3pads Japual dl •ssalppe jo 0211E110 s,JoM01J0g jo Japual Ii311ou Allduzold I41111s 1oM011og *Japual of aotlou ,iq ssazppe apllou aimpsgns a paltu2isap se4 1aMonog ssap m ssaippy AIodold 0111 aq togs ssaippe 0011011 ata •aspkuatllo sazmbai ,ilssoidxa Mel ajgEoilddy ssalun &Iamollog lle o1 a0ilou alnlIlsuoo Hugs zaMO.uog auo iiue 01 aOI1oN •sueam Ja1110 A luas 3i ssaippg ap110u s,lamollog o1 pa ATTeiu ua4M 10 ipeiil ssep 1914 ,iq pallrw uat"M zamozzog 01 uani2 uaaq ane11 01 pauiaap aq Ilegs 1U0um11sul Alunoas 51141 t"11M 1101100111100 111 10M0110g o1 001101 ri1P/ 11111WM 111 aq lsnui 1110Iutulsul A111n0as sup 11!M uoil0auuo0111 Japual J0 zaMOZZOg ,Cq uan12 sapilou 'Ty •saai ;ON *ST •081t11010A011011S JO 1110 2111511E ant" 1421111 JOMOZZOg 110110e JO 14211 ,CUE JO lani1M t aln IT ►M JoMOZZOg o1 luatu,Ced 1pa.np ,iq apeul punjai ipns Aug jo aourldapoe s,Jamonog •(aloN ails iapun 1o3 papInoJd sI a21nno 1uaul,iedaid a 1ou 10 iag1agM) o8 roto luauu/iedoid ,Sue 1iio411M luaulArdaid 1e11111d a se palrazl aq TIiM uouonpai 0141 `Trdpuud soonpaJ punjai E 3l •iamoluog o1 1110111 ad 10a11P a 2upleui ,iq 10 OION 0111 zapun pamo Iediouud ails 2uionpaz ,Cq punjoi sTp 031EU1 01 asoo110 hut Japual •JaMollog o1 popunjai aq TIiM sliui!' paupulad papaa0xa t"o114M 10M0110g 1110z3 1301001100 ApeaJle sums Niue (q) 0U1 `.111zi1I p0uliuzad alp 02 a21e40 041 aonpai 01 ,C1E9sa0at lunotie a1I1 ,(q paonpal aq jots a21gt p uuol Ions Sur (e) :110111 'quail palnuuzad 041 0000x0 ueol 0141 1411M 10120011100 Ui P01001100 aq 02 10 p02001100 90211140 ueol 101110 10 19010111 01 41 1 OS palald1a2ui )(pug Si mu' Imp pue `90211140 ue0l umuiixEm slas goi1p M11l r Ol 10afgns si Ural a141 Mel algeogddd iiq 10 1uaunulsul 111n0as sup Aq paligigoJd ,(lssaidxa are 111111 9003 0211140 lot Amu Japual •ooj Lions jo 2ui2Jego a141 uo uopigigold r sr panllsuoo aq 1011 111149 1aMO11og o1 003 0i a 0211140 01 1Ualmalsul J211noas sup ti! 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Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer that collects Periodic Payments dne under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a ck6A(WY) (0005) Page 11of15 Initials: 3051 1/01 0011230711 TTLO£ZTIO0 s�e!ilu� 5l )o ZL e8ad •dnueai3 ie1Uauluoz!nug ate zo3 zapua uo uon1ESTigo Sue argon imp utazaq 2UT1flON •mE IEluauzuo.nnug 111!m aouepz000E ui suonoe TETpatuaz Azessaoau Aildutozd ijEgs zamozzog `Azessaoau sT Alzadozd aril SuiioajjE aouElsgns snop1EZgH Sue 3o uopulpamaz zatjlo 10 ienotuaz AuE Imp `AfJEd alenud Air z0 `A11zotTlnE AiolEln2az 10 iBluaunuanoS Air Aq pal ifou si JO `suiEai zamozzog 31 •Aliadozd alit 3o amen am s1aaJE Aiaszanpu tpT1TM aouglsgns snoprzgll E 3o asgaiaz JO asn `aouasazd am Aq pasneo uonipuoo Sue (o) puE `aouglsgns snOpzezell Aue 3o asEaiaz jo iganp 10 aseaiaz `aSiEtTostp `BumjEai `2miiids Sur `o1 paliulg IOU inq Sutpnpul `uolupuoD ieluatuuozinug Sue (q) `a3paTMou?T pot Seri IOMOSIOH LTOnTM jo Mg'l iEluaunlozinug 10 aoUElsgns snop1EZEf Aug pug Apadozd acil Sutn(OnUt And alentzd zo AouaSE AzolE(n2az zo JEluauIuzano8 AuE Act uouog zagio zO 1tnsMEi `pU tUap `utrep `UOt1E2tlsanuT AuE (E) Jo aoTlou uallUIM zapua anTS A(fdtuozd ijEtis zamozzog •(slonpozd zatunsuoa ut saoumisgns snopznmq `01 pauuni iou inq `$uTpnpul) Alzadozd aril jo aoIEUalUI UI o1 puE sasn ienuaptsaz iguuou o1 alEtzdozdde aq o1 paziu$ooaz AijEZauaS ai imp soouelsgns snopzezeH jo saililugnb 1jEtus jo Alzadozd am uo a2gzols z0 `asn `aouasazd aril 01 AiddE iou Help saoualuas oml Suipaoazd aqj •Alzadozd am jo amen am s1OajjE Aiaszanpu Imp uoilipuoo E swan `aouelsgns snopzEZell g jo asgaiaz 10 `asn `aouasazd aril of anp `ITOiiTM (0) z0 `uoilipuop IEluatztuozinug uE saran tjOigM (q) 1E1uatuuozinug Sur jo uopEioi■ uT sT 1Eti1 (g) Alzadozd aril guT1oajo $uig1AuR `op 01 asp auoiU1 mom IOU `op 1ou liens zaMOZZOg •Alzadozd at{1 ut zo uo `saouulsgns snopzezeH Sue asgaiaz o1 uaraztp zo `saouelsgns Snop1EZEH Aue jo asgaiaz z0 `a8ez01s `jEsodsip `asn `aouasazd am inuzad 10 asnlO lou hurls zaM0110 •dnuEaJD jE1uainuozinug ue 1a25iz1 asiM3ag10 10 `01 ainguluoo `asnuo uEO 1Etj1 uoiupuoo E straw „uouipuoD igivaulUOZtnug„ U (p) pug :ME-1 TE1uatUU0zinug ut paut1Jap sr 'UO110E IEnouIaz 10 `uoTloE iEipatuaz uotloE asuodsaz AIR sapnpui „dnueaJD 1Elu01.11uortnug„ (o) :uo!loalozd (e1UaU1UOZinua 10 Aims 'glieaIT of MEIN fElp paluooi st Alzadozd am azagM uoJloips!znf atT1 SME( pue sME( (EZapaj suEatu „ME-i 1Eluattzuozinug„ (q) :sigpalEUi anTlogoipEZ pug `apAt(ap(gtUZOj 10 SO1SOCISE SUTUteluoo S1ETZa1Etu `sluanios aineion `sapiMgzatq puE sapiOT1sad oixol `slonpozd umaioziad oIxo1 zo aigruluiET3 zaglo 'mason)! `atnlose2 :saouElsgns SUTMoiioj aril puE ME'l (Eluauiuozinug Aq SO1SEM 10 `sluElnTiod `saouE1sgns SIlOp3EZEii 10 °p01 sE pain ap saouEisgns asotil aiR „saoue1sgns snopzgzeH„ (E) :iZ uonoas SUTI UT pasn sy •saauelsgns snopagzgH 'TZ 'OZ uoTloas s1gl ;o suoisinozd uoT1oE antloazzoo 0)jE101 A1TUnlzoddo pug aoifou alp Ajspgs 01 patuaap aq Burls 81 uoTloas o1 luEnsznd zamozz0g o1 uanIS UOfl 1a(aoog 3o aoifou aril pUg ZZ uoTloas o1 iuEnsznd z0m01z0g o1 uaniS azno 01 A1iun11oddo pum U0fl 1aiaooE jo aoTlou ati1 d suti jo sasodmd zoj aiquuosgai aq o1 pauzaap aq 'pm poizad amp lEI twirl aq uEo uouoE u1Elzao azojaq asdEia lsnui tionTM pouad au E saptnozd MEZ aigeoiiddy 3l •uonoE antioazz0o 03iE1 01 aoTlou gons 3o SuTATS aril zaiur pouad aigeuoseaz E ofazaq A11Ed zaiilo alp papzonu puE gogazq pa2aTTE lions jo (S1 uoTloas 3o sluaulazinbaz alp glim aouET(dtuoo ui uan!S aoTlou bons Ip!M) Aurd zatil0 aril pa13T1ou sgq zapua-1 10 10M011011 tions !Thin luaumz1sul A1Tznoas sitil `3o uosEaz Aq paMO Alnp Aug 10 `Jo uoisinozd Auu pagouazq suit Alzud zag1O am imp sa2ajjE Imp zo luaumzlsul A1TZnoas siiii 01 luEnsznd suotloE s,A11Ed zatTlo am luau sasUE lEt (ssEp E Jo zagtuaui atT1 JO 1UE I1Ti jgnpintpuf ur zatTlia sr) uoTloE (ETOipnf Aug 01 pauiof aq 10 `uiof `aouaunnoo Arm zapua7 IOU z0m0zz0g zaiiltON •zasEtpznd a1oN am Aq papinozd as1MZagio ssa(tm aasEtpznd aloN at 1 Aq paumsse 1ou a1E pug zaoin.las uEO'l lossaoons E 01 pazzaJsuEZ1 aq 10 zaotnzas UEO"1 am IT11M mum/ rpm zamozzog o1 suoiE2tTgO Supinzas uEOi a8E4zoul aril `aloN 0141 jo zasEgoznd am uEtp zagio zaotnzas ueo'l E Aq paotnzas sl nevi alp zailEazaggl pug pins sT aloN aq 3i •Suioinzas 3o zaJSUEZ1 3O 00Tl011 (soon) (AM)119 w NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming CI> -6A(WY) (0005) Page 13 of 15 Initials: 35 Form 3051 1/01 TILO£ZTTOO LOIL LSOC wJol iamoaiog- (IEaS) (ins) aamouog- (iEos) (pas) iamo»og- (IEas) (IEas) JamoJ.iog- (iEas) A e x tol ainea s l !o b l °Bed aamou Jamouog- iamauog- (soon) (A M)tl 9 sassauL'M q1 M papcooaz puu a0MO.1JOg ,Cq palnoaxa zaprg Am ut pue ;UaUUULsuJ 4.moaS smi UT paumuoo s1UEUanoo pue suua1 aul oL saai2E puE sudaoor aamolog 'MOIRE! ONINOIS AEI 08 739!)? The foregoing instrument was acknowledged before me this June 13, 2001 by David L. Paxton Kathy S. Paxton My Commission Expires: 9 -12 -03 6A(WY) (0005) STATE OF WYOMING, County ss: TETON Initials: er, Page 15 of 15 Form 3051 1/01 0011230711 'S -TIC 'oN quTd su £66T `9 TTady PeTTJ quTd Imp of ?uzpa000u '3utwoAm `Xaunop uTo3UTrj 4£ •oN uoTSTATG sauouug otpaoN 3o Z£ 1oq .V. =HOS