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HomeMy WebLinkAbout945642 Å f.!IF re.tõ. d;u~ pll.'use return £0: AmTrust Bank Final Documents Department [Name] RECEIVED 3/2/2009 at 2:53 PM RECEIVING # 945642 BOOK: 716 PAGE: 526 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY (Attention] 1111 Chester Ave, Suite 200, Mail Code: OH98-0201 [Street Address] Cleveland, Ohio 44114-3516 [City, State Zip Code] Recording requested by: LSIace Above This Line For Recording DataJ- When recorded return to : Loan Number: 2413507 Custom Recording Solutions MJN: 100162500024135072 2550 N. Redhill Ave. MORTGAGE Santa Ana, CA. 92705 800-756-3524 Ext. 5011$6B1atP DEFINITIONS (:00526 Words used in multiple sections of this document are defined below and other words are defined in Sections 3, I], 13, 18, 20 and 21. Certain fllles regarding the usage of words used in this document are also provided in Section) 6. (A) "Security Instrument" means this document, which is dated January 30, 2009, together with an Riders to this document. (B) "Borrower" is Alex R. Maser and Marcie G. Maser 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 ofP.D. Box 2026, Flint, Ml 48501-2026, tel. (888) 679-MERS. (D) "Lender" is Profolio Home Mortgage Corporation. Lender is a corporation organized and existing under the laws of The State of Texas. Lender's address is 370) Briar Park Drive Suite ISO, Houston, TX 77042. (E) "Note" means the promissory note signed by Borrower and dated .January 30, 2009. The Note states that Borrower owes Lender One Hundred Seventy Eight Thousand and 00/100ths Dollars (U.S. $178,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in filiI not latcr than February 1,2039. Wyoming Mortgage-Single Family-Fanoie Mnc/1"rcddie Mac lJniform Instrllment MERS Modlßed The COml)JjBnce Source, Inc. ~'WW,CQm pllll DI~e50urce. com Form 3051 1101 Pflge I orIS Modlficd by Compliance Source 14301WY 08/00 Rev. 04/08 02000, The Compliance Source, Inc. 2413507 (:Oú527 (.F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as appHcable]: o Adjustable Rate Rider o Balloon Rider o 1-4 Family Rider o Other(s) [specify] o Condominium Rider o Planned Unit Development Rider o Revocable Trust Rider o Second Home Rider o Biweekly Payment Rider (1) "Applicable Law" means a1l contr01ling applicable federa], state and local statutes, regulations, ordinances and administrative rules and orders (that have the etfect of law) as we1l as all appHcable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or simi]ar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not lìmited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of dan1ages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, tlie Property; (íi) condemnation or other taking of all or any part of the Property; (Hi) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value andlor condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amollnt due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 V.S.C. §2601 et seq.) and its impJementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that govems the same subject matter. As used in this Security Form 30511101 Wyoming Mortgngc-Single Family-Fnnulc Mae/Freddic Mac. Uniform Instrumcnt MEHS Modified The Compliance Source, Inc. www.complinncesource.com I'age 2 of IS Modified by Compliance Source 1430lWY 08/00 Rev. 04108 ©2000, The Compliance Source, Inc. 2413507 (;,00528 Instrument, "RESPA" refers to all requirements and restrictions that are imposed in 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 Borrower" means any party that has taken title to the Property, whether 01' not that party has assumed Borrower's obligations under the Note andlor this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY 10 is Security Instrument secures to Lender: (í) 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 in the County [Type of Recording Jurisdiction] SEE EXHIBIT A ATTACHED of Lincoln [Name of Recording Jurisdiction] which cmrently has the address of 1328 6th West Avenue [Street] , Wyoming 83101 [Zip Code] Kemmerer (City] ("Propet1y Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and ¡¡1I 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 seized 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. TI·IIS 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. Wyoming MortgagL'-Single Family-FRnnie MneJFreddie Mac Uniform Instrument MERS Modilied The Collt Jlinnce S(!urcc, IlIc. www.com JlinIlCesollrce.com FOrlll30511101 Page 3 of 15 Modilicd by Compliance Sourcc 14301WY 08/00 Rev. 04108 ©2000, The Compliance Source, IlIc. 2413507 ÜOú529 UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: J. Payment of Principal, Interest. Escrow Items, Prepayment Charges, and Late Charges. Bon'ower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Lnstrument be made 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. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted, If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied tùnds. Lender may hold such unapplìed funds until Borrower makes payment to bring the Loan cun-ent. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retull1 them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No oIfset or claim which BOlTower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under tbe Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied Hrst to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Bon'ower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if: and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one 01' more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied tirst to any prepayment charges and then as described in the Note. Any applìcation of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due tinder the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and Cd) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section J O. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Wyoming Mortgage-Singlc "'amlly-Fannie Mac/Freddie Mile Uniform Instrument MERS Modilied The Compliance Source, Inc. www.eomplianeesource.colii Form 3051 1101 Page 4 of 15 Modified by Complinnce Source 1430lWY 08/00 Rev. 04/08 <02000, The Compliance Source, Inc. 2413507 C:Oú530 Lender may reqt¡Ìre that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments sha11 be an Escrow Item, Borrower shall promptly furnish to Lender a11 notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or a11 Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the 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 evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shaH 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 shalJ then be oblìgated 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 alJ 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 veritying 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 shalJ 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 sha1l pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly p.ayments,lft!w)'~ 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 fu1l 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, tines, 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 manncr acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends Wyoming Morfgage-Slngle Fltmil}'-I,'lInnlc Mac/Freddie Mac Uniform InstJ'umellf I\'ŒRS Modified The Compliance SOllne, IlIc. www.compliancesollJ.ce.com Fonn 3051 1/01 Page 5 of .15 Modified by Compliance Sonrce 14301W'\' 08/00 Rev. 04/08 102000. The Compliunce Source, Inc. 2413507 (;0053:1 against enforcement of the líen 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 days of the date on which that notice is given, Borrower shall satisfy the lien or take one 01' more of the actions set forth above in this Section 4. Lender may require BOlTower to pay a one-time charge for a real estate tax veritication and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Bon'ower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shaH be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the tenn of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shaH not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (6) a one-time charge for flood zone detem1ination, certification and tracking services; 01' (b) a one-time charge for Oood zone detennination and certitication services and subsequent charges each time remappings or similar changes occur which reasonably might affect such detennination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by BOITower. If Borrower fails to maintain any of the coverages described above, Lender may obtaÌ11 insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shaH cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or Jesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee andlor as an additional loss payee. Lender shall have the right to hold the, polici!,s and ren,ewal c~rUtïcates." If Lenderrequirest Bon-ower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Bon'ower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shaH give prompt notice to the insurance carrier and Lender. Lender may make proof of loss ifnot made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hoJd such insurance 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 shaJ] be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is Wyoming Mortgage-Single Family-Fannie Mac/Freddie Mac Uniform Instrument MERS Modified The Compliance Source, Inc. www.complia )ccsourcc.eom Form 30511/01 ('age 6 of 15 Modít1cd by Compliance Source 1430lWY 08/00 Rev. 04108 ©2000, The CompliAllec Source, J nc. 2413507 (:,Oú532 made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bon'ower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by BOITower shalJ not be paid out of the insurance proceeds and shalJ be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be app1ied 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 fTom 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 al1 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 shaH occupy, establish, and use the Property as Borrower's principal residence within 60 days aner the execution of this Security InstTument and shaH continue to occupy the Property as BOITower'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 shalJ not deslToy, damage or impair the Property, aHow 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 detennined 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 shan be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds foJ' the repairs and restoration in a single payment or in a series of progress payments as the work is completed. I f the insurance or condemnation proceeds are not sufficient to repair or restore the Propert)', Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries uPQn and inspections ofth~ Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Pro pert)'. 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 01' consent gave materially false, misleading, or inaccurate infonnation or statements to Lender (or failed to provide Lender with material infonnation) in connection with the Loan. Material representations incJude, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lcndcr'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 signitìcantly 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 Wyoming Mortgag~,)ingle Family-Fallnie Mae/Freddie Mac Uniform Instrumcnl MERS Modified The Compliance SOllrc.c, Inc. www.colJlplianeesourcc.eolJl Fonn 3051 1101 ¡'agc 7 of 15 Modified by Compliance Source 1430lWY 08/00 I\ev. 04/08 ©2000, The Compliance Source, Inc. 2413507 (:00533 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 thc Property. Lender's actions can include, but arc 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 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, 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 obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shaU bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. J O. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in etTect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shan not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required -Mortgage Insurance as a COIJd,iti.on Qf making tbe Loan and Borrower was required to make scparateJy designated payments toward the prcmiums for Mortgage Insurance, Borrower shan pay the premiums required to maintain Mortgage insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement tòr Mortgage Insurance ends in accordance with any written agreement between Bon'ower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 atfects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on aU such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). Wyoming Mortgage-Single Family-Fannie Mae/Fr'eddie Mae Uniform Instrument HERS Mndilìed The Compliance Source, Inc. www.compliancesource.com Form 3051 1/01 I'age 8 of 15 Modified b}' Compliance Sourçe 14301WY 08/00 Rev. 04/08 ©2000, The Compliance Sourt.e, Inc. 2413507 ÜO&534 As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive tram (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifYing the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often tenm:d "captive reinsurance." Further: (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 entitle Borrower 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 Protection Act of 1998 or any other law. These rights may include the right to 'cceive ccrtain 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 wfiting or Applicable Law requires interest to be paid on such Miscel1aneous Proceeds, Lender shall not be required to pay BOITower 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 Bon-ower. Such Miscellaneous Proceeds shaH 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 Joss in value is equal to or gr¡)ater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless BOl1'ower 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 foHowing fraction: (a) the total amount of the sums secured immediately before the partial taking, destTuction, or loss in value divided by (b) the fair market value of the Property immediately before the pal1ial 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 p'irtiaJ 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 slims are then due, Wyoming Mortgage-Single Family-Fannie Mae/Freddie M.HC lJniform Instrnmcnt MERS Modified Tbe Compliance Source, Inc. www.c()mpliancesollrce.com Form 3051 1101 Page 9 of 15 Modified by Compliance Source 14301WY 08/00 Rev. 04/08 102000, The Compliance Source, Inc. 2413507 ûO&536 I I' the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be co]]ected Ì11 connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected [Tom Borrower which exceeded permitted limits wíJt be refunded to Borrower. Lender may choose to make this refund by reducing the princìpal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower wm constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone Borrower shaH constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only repol1 a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actual1y received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shaH 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 Instl'ument or tbe Note contlicts with Applicable Law, such conflict shall not affect other provisions of this Security InstTument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender sha ] 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 ofthis 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 beneticial 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 tTansfer of title by Borrower at a future date to a purchaser. If all or any part ofthe Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Bon'ower 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 sha ] 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 InslTument. If Borrower fails to pay these sums prior to the Wyoming Mortgage-Síngle Fllmily-Fllnnìt Macll'reddie Mac lhtiform Instrumeut MlmS Modilied The Compliance Source, Inc. WW"·.com plinllcc50urce.com Form 31151 If 01 Pagc II of 15 Modificd by Compliancc Source 14301WY 08/00 Rev. 04/08 tJ2000, Thc Compliance Source, Inc. 2413507 (; 00537 expiration of this period, Lender may invoke any remedies pel111itted 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 Ù1e Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specifY for the tennination of Bon'ower'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 Ù1is 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 fomls, 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 shaH remain fully etIective as if no acceleration had occurred. However, Ù1is right to reinstate shaH not apply in the case of acceleration under Section 18. 20. Sale of Note: Change of Loan ServiceI'; 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 due under Ù1e Note and this Security Instrument and performs oÙ1er mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan ServiceI' 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 reqtlÍres in connection with a notice of transfer of servicing. If the Note is sold and thereafter the LOaJl is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to BOlTower will remain with the Loan Servicer or be transferred to a successor Loan ServiceI' and arc not assumed by the Note purchaser unless çtherwise provided by Ù1e Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member ora class) that arises from Ù1e other party's actions pursuant to this .Seçurity Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance WiÙ1 the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take cOITcctive action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period wilJ be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and tile notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions ofthjs Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are Ù10se substances defined as toxic or hazardous substances, polJutants, or wastes by Environmental Law and the foJlowing substances: gasoline, kerosene, other flammable or toxic¡petroleum products, toxic pesticides and herbicides, volatile solvents, matelials containing asbestos or fonnaldehyde, and radioactive materials; (b) "Environmental Law" means federal I Wyoming Mortgage-Single Family-Fllooie Mlle/Fr~dd e Mac llnil'orm Instrument MlmS Modified i The Compliance Source, Jnc. : www.eompllaneesource.colII Form 30511/01 Page 12 of 15 Modified by Compliance Source 14301WY 08/00 Rev. 04/08 ©2000, The Compliance Source, Inc. 2413507 ÜOv538 laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower 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 in the Property. Bon-ower shall not do.. nor allow anyone else to do, anything afrecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of thc Propelty (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or EnvironmentaJ Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bon-ower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shaJl create any obligation on Lender for an Environmental Cleanup. NON-UN1FORM 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 01' agreement in this Security Instrument (but not prior to acceleration under Sectíon 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, L~nder_at its option may require immediate päyment in full of ail 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 ail 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 IS. 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. Wyoming Mortgage-Single Family-Fannie Maefl1reddie Mne Uniform Instrument I\1ERS Modified The Complìanee Source, IlIe. www.compliancesource.com Form 3031 1/01 Page 13 of 13 Modified by Compliance Source 1430lWY 08/00 Rev. 04/08 ©2000, The Compliance Source, IlIc. 2413507 (:00539 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 pelmitted under Applicable Law. 24. Waivers. Borrower releases and waives aU rights under and by virtue of the homestead exemption laws of Wyoming. The fol1owing signature(s) and acknowledgment(s) are incorporated into and made a part of this Wyoming Mortgage dated January 30, 2009 between Alex R. MascI' and Marcie G. MascI' Husband and Wife, and Profolio Home Mortgage Corporation. BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in this Security ent an in any Ride 'xecuted by Borrower and recorded with it. (Seal) ·Borrower [Printed Name] ~UU/~~~. M rcic G Maser ~/j (Seal) -Borrower [Printed Name] (Seal) -Borrower [Printed Name] (Seal) -Borrower [Printed Name] Wyoming Mortgage--Single Family-Fannie Maelf'l'cddie Mac Uniformlnstrumcnl MERS Modilicd The Compllallce Sonrce, Inc. www.compliallce.~()uree.com Form 3051 1/01 PlIge 14 of 15 1'rIlldilicd by Complillßcc Source 1430lWY 08/00 I~e\'. 04108 ©2000, The Compliance Source. Inc. 2413507 ACKNOWLEDGMENT State of 1-11)/1.1.,"'11 County of L/rtco jl § § § ÜO&540 The foregoing instrument was acknowledged before me by Alex R Maser and Marcie G Maser this ,])6 day otè-~l_/ dt&7 . Witness my hand and officìaJ seal. 7~ I ? I~~~ SigJíaiure of Offk~' ' , ~n . -!t/~, I ; Æc Printed Namé /U~ Title of Officer ¿ My Commission Expires: ¿;~6,ft 0 / / ''''---~y U-BLIC ~ . LORI KALAN - NOTAR P COUNTY OF' STATE OF LINCOLN Wì'OMING \ . "co~;,:,;"!~;':':;!·2'!l)..~ ~._ '.' .. . - .'_' ._, d. .... (Seal) Wyoming Mortgng~-Single Famlly-Fflnnie 1\'I¡¡c/Freddie ~1Pc llniforlll Instrument MERS M()dified The Compliance Source, Inc. www.complillllccsource.colll .'urm 30511/01 I'Rge 150fl5 Modilicd by Complinnce SOllrce 14301WY 08/00 Rev. 04/08 (\'.'12000, The Complhlßcc Sourcc. Inc. 2413 507 (;·Oû541. Loan # tbd Exhibit A LEGAL DESCRIPTION The following described property: Situate in Lincoln County and State of Wyoming, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State to-wit: Lot 8 of Block 5 of the Lincoln Heights Third Subdivision to the Town of Kemmerer, Lincoln County, Wyoming as described on the Official Plat thereof, together with all buildings, improvements and appurtenances thereon situate or in anywise appertaining thereto. Assessor's Parcel No: 12-2116-23-1-18-091.00