HomeMy WebLinkAbout946735
00&336
RECEIVED 4/24/2009 at 2:09 PM
RECEIVING # 946735
BOOK: 721 PAGE: 336
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
~lwrß 'ü..1:
First American RES
ATTN; Nationstar Mortgage Tracking
450 E.Boundary Street
Chapin, SC 29036
Prepared By:
Sarah Fry
NATIONSTAR MORTGAGE LLC
350 HIGHLAND DR, 1ST FL FINAL DOCS
LEWI~VILLE, TX 75067
252518063
[Space AbO\'t! This Line For Recording Data]
\J",
Recording requested by: LSI
When recorded return to :
Custom Recording Solutions
2550 N. Redhill Ave.
Santa Ana, CA. 92705
DEFINITIONS 800-756-3524 Ext. 5011S1ð<15,o
Words used in multiple sections of this doeumenl arc defined below and other words arc defined in Sections
3, 11, 13, HI, 20 and 21. Certain rules regarding the usage of words used in this document are also provided
in Section 16.
MORTGAGE
MIN 100397202525180635
(A) "Security Instrument" means this document, which is dated
together with all Riders to this document.
(B) "Borrower" is
JEAN L BUNNER AND
DANIEL G BUNNER¡WIFE AND HUSBAND
AS TENANTS BY THE ENTIRETY
4/01/2009
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Eleelronic Registration Systems, Inc. MERS is a separale 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
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252518063
(D) "Lender" is
NATIONSTAR MORTGAGE LLC
Lender is a A LIMITED LIABILITY COMPANY
organized and existing under the laws of THE STATE OF DELAWARE
Lender's address is 350 HIGHLAND DRIVE
LEWISVILLE, TX 75067-4177
(E) "Note" means the promissory note signed by Borrower and dated 4/01/2009
The Note sætes that Borrower owes Lender
ONE HUNDRED ELEVEN THOUSAND & 00/100 Dollars
(U.S. $ 111,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic
Payments and to pay the debt in full notlaLCr than 5/01/2039
(F) "Property" means the properly 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 applicable]:
D Adjustable Rate Rider
o Balloon Rider
o VA Rider
D Condominium Rider
o Planned Unit Development Rider
D Biweekly Payment Rider
D Second Home Rider
o 1-4 Family Rider
[i] Other(s) [specify]
LEGAL
(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
ordinances and administrative rules and orders (that have the effect of law) as well as all applicable 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 Properly by a condominium association, bomeowners
association or similar 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 limited to, point-of-sale transfers, automated teller machine
transactions, transfers initiated by telepbone, 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 damages, 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, the Property; (ii) condemnation or other taking of all or any part of the Property;
(iii) conveyance in lieu of condemnation; or (iv) misrcpresenwtions of, or omissions as to, the value and/or
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 amount due for (i) principal and interest under the
Note. plus (ii) any amounts under Section 3 of this Security Instrument.
WYOMING· Single Family· Fannie Maa/Freddle Mac UNIFORM INSTRUMENT WITH ME AS
VUPS
Wolters KJuwer FInancial Services
~ Form 305, 1/01
VUP6A(WV) (0606),00
Initials Page 2 01 16
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(P) "RESPA" means the Real Est¡¡te Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its
implementing 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 governs the same subject matter. As used in this
Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard LO a
"federally ·related mortgage loan" even if the Loan does not qualify as a "federa11y related mortgage loan"
under RESPA.
(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 Securit)' Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and a11 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 of LINCOLN
IType of Recording JII,¡,diction] [Name of Recording Jurisdiction]
LOT 9 OF BLOCK 49 OF SECOND ADDITION TO THE TOWN OF KEMMERER, LINCOLN
COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
ParcclIDNumb~: 12-2116-23-1-13-018.00
511 OPAL STREET
KEMMERER
("Property Address"):
which currently has the address of
IStreet)
ICilYI , Wyoming 83101 ¡Zip Cudel
TOGETIffiR WITH a11 the improvements now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereal'ter a part of the property. A11 replacements and additions shall also
be eovered by this Security Instrument. A11 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, inducting,
WYOMING· Single Famllv· Fannte Mae/Freddie Mac UNIFORM INSTRUMENT WITH ME AS
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Wolte,. Kluwa, FinancIal SerVlcea
~~. Form30611101
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252518063
but not limited to, the right to foredo~e and ~e!l the Property; and to take any action required of Lender
including, but not limited to, releasing and canceling thi~ Security In~trument.
BORROWER COVENANTS that Borrower is lawfully ~eised of the estate hereby conveyed and has
the right to mortgage, grant and convey the Properly and thm 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.
TIllS SECURITY INSTRUMENT combines uniform covenant.~ for national use and non-uniform
covenants with limited variations by juri~diction to con~titute a uniform security in~trument covering real
property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follow~:
1. Payment of Principal, Interest, ~~scrow Items, Prepayment Charges, and Late Charges.
Borrower 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. Payment.~ due under the Note and this Security Instrument shall be made in U.S.
currency. However, if any check or other in~trument received by Lender as payment under the Note or this
Security In~trument is returned to Lender unpaid, Lender may require that any or all ~ubsequent payments
due under the Note and this Security In~trument be made in one or more of the following forms, as selected
by Lender: (a) cash; (b) money order; (c) certified check, bank cheek, treasurer's check or cashier's check,
provided any such check is drawn upon an institution whose deposit.~ are insured by a federal agency,
instrumentality, or entity; or (d) Electronic Funds Transfer.
Payment.~ 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 provi~ion~ 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 in~uffieient to bring the Loan current,
without waiver of any rights hereunder or prejudice to it~ right~ 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 nOI pay interest 00 unapplied
funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
Borrower doe~ not do so within a reasonable period of time, Lender ~hall either apply ~uch funds or return
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 offset or claim which Borrower might have now or in the
future against Lender shall relieve Borrower from making payment~ due under the Note and this Security
Instrument or performing the covenants and agrecment~ secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payment~
accepted and applied by Lender shaU be applied in the fo!lowing order of priority: (a) interest due under the
Note; (b) principal due under the 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 first to
late chl1rge~, second to any otber amounts due under this Security Instrument, and then to reduce the principal
balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
suflicient 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 trom
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 or more
WYOMING· Single Family. Fannia Mae/Freddie Mac UNIFORM INSTRUMENT WITH ME RS
VIAPS
Woller. Kluwa, Financial Services
\ Form 30511/01
, y;::)IAP6AIWV) 10806).00
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Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be
applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the
Note shall not extend or postpone the due dale, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Paymenl~ are due under
the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounl~ due for: (a)
tBxes and assessmenl~ 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 (d) 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 lhe provisions of Section 10. These items arc called "Escrow Items." At origination or at any
time during the term of lhe Loan, Lender may require that Community Associaûon Dues, Fees, and
Assessment~, if any, be escrowed by Borrower, and such dues, fees and assessment~ shall be an Escrow Item.
Borrower shall promptly furnish to Lender all notices of amounl~ 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 all 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, Bor,ower
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 receipt~ evidencing such
payment within such time period as Lender may require. Borrower's obligation to make such payments and
to provide receipl~ sball 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 tbe 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 Secûon 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or an Escrow
Items at any time by n notice given in accordance wilh Seclion 15 and, upon such revocalion, Borrower shall
pay to Lender all Funds, and in such amounts, that are then required under lhis Seclion 3.
Lender may, at any time, collect and hold Funds in an amount (n) 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 Esc,ow Items or otherwise in accordance with Applicable Law,
The Funds shall be held in an insûtuûon whose deposits arc insured by a federal agency, inslrument.ality,
or enûty (including Lender, if Lender is an institution whose deposit.~ are so insured) or in any Federal Home
Loan Barne Lender shall apply lhe 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, annuany analyzing the
escrow account, or verifying lhe 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 rcquires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or
cumings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on lhe
Funds. Lender shall givc La Borrower, withouL charge, an annual accounting of lhe 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
WYOMING· Single Family. FannIe Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
VMP@
Woltets Kluwer Financial Service&.
~ Form30S1 HOl
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252518063
Lender the amount necessary to make up the shorwge 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 RESP A, and Borrower shall pay to Lender the amount necessary to make up
the deficiency in accordance with RESPA, but in no more than ]2 monthly payments.
Upon payment in full of all sums secured hy this Security Ins!rument, Lender shall promptly refund to
Borrower any Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessment~, charges, fines, and impositions
at!ributable to the Property which can attain priority over this Security Instrument, leasehold payments or
ground renl~ 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 shan promptly discharge any lien whieh has priority over this Security Ins!rument unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner accepWblc to
Lender, but only so long as Borrower is performing such agreement; (b) contest~ the lien in good faith by, or
defends against enforcement of the lien in, legal proceedings wbich 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 bolder 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 !I lien which can attain
priority over this Security Ins!rument, 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 or more of the
actions set forth above in this Section 4.
Lender may require Borrower to pay a one- time charge for a real estate tax verification and/or reponing
service used by Lender in connection with this Loan,
S. Property Insurance. Borrower 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 fJoods, for which Lendcr rcquires insurance. This
insurance shall be main wined 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 shan not be exercised unreasonably. Lender may require
Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination,
certification and !racking services; or (b) a one-time charge for flood zone dete,mination and ccrtification
services and subsequent eharges each time remappings or similar changes occur which reasonably might
affect such detennination or certification. Borrower shaH also be responsible for the payment of any fees
imposed by the Federal Emergency Management Agency in connection with the review of any Hood LOne
determination resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obwin insurance
coverage, at Lender's option and Borrower's expense, Lender is under no obligation to purcbase any
particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not
protect Borrower, Borrower's equity in the Properly, or the conLCnl~ of the Properly, against any risk, haLard
or liability and might provide greater or lesser coverage than was previously in effect. Borrower
acknowledges that the cost of the insurance coverage so obtained might signifieanLly exceed the cost of
insurance that Borrower could have obtnined. Any amounts disbursed by Lender under this Section 5 shaH
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.
WYOMING· Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
VMPIii>
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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
mortgagec and/or as an additional loss payce. Lcnder shall have the right to hold the policies and renewal
certificates. If Lender requires, Borrower shall promplly give lO Lender an reeeipls of paid premiums and
renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for
damage to, or destruction of, the Property, such policy shall ¡ncJude a standard mortgage cJause and shan
name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
applied to restoration or repair of the Properly, if the resloration or repair is economieal1y feasible and
Lender's security is not lessened. During such repair and restoration period, Lender shall have the righl to
hold such insurance proceeds until Lender has had an opportunily lO inspect such Property to ensure the work
has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires
interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or
earnings on such proceeds, Fecs for public adjuslers, or other third parties, retained by Borrower shall nOl be
paid oul of the insurance proceeds and shall 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 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. ]f Borrowe, docs not respond within 30 days to a notice from Lcnder that the insurance
carrier has offered to settle a cJaim, then Lender may negotiate and settle the cJaim. The 3D-day period will
begin when the notice is given. In either evenl, or if Lender acquires the Propeny under Section 22 or
otherwise, Borrower hereby assigns to Lender (a) Borrower's righL~ to any insurance proceeds in an amount
not to exceed the amount~ 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 an 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
NOle or this SecurilY Instrument, whether or nOllhen due.
6. Occupancy. Borrower shall occupy, estJIblish, and use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instrumenl 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 com mil waste on the Property.
Whether or not Borrower is residing in the PropCrly. Borrower shall maintain the Property in order to prevent
the Property from deteriorating or decreasing in value due to iL~ condition. Unless iL 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
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restoring the Property only if Lender has released proceeds for such porposes. 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. [I' the insur-mce or condemnation procecds are not sufficient to repair or restore the Property,
Borrower is not relieved of Borrower's obligation for the completion of sueh repair or restoration.
Lender or it~ agent may make reasonable entries upon and inspections of the Property. If it has
reasonable cause, Lender may inspect the interior of the improvement~ 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, represenUltions concerning Borrower's occupancy of the Property as Borrower's principal
residence.
9. Protection of Lender's Interest in the PropertJ' 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 atUlÎn priority over this Security Ins!rument 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 attorneys' fees to
protect its interest in the Property and/or rights under this Security Instrument, including its secured position
in a bankruptey procecding. Securing the Property includes, but is not limiled 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 uliJities 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 Ins!rumenl. These amounl.S shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such inlerest, upon notice from Lender 1.0 Borrower requesting
payment.
If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease.
[I' Borrower acquires fee title to the Property, the leasehold and the fee title shall nOl merge unless Lender
agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
Borrower shall pay the premiums required to maintain the Mortgage lnsurance in effecl. If, for any reason,
the Mortgage Insurance coverage required by Lender ceases to be available tram the mortgage insurer that
previously provided such insurance and Borrower was required to make separate]y designated payments
toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage
substantially equivalent 10 the Mortgage Insurance previously in effect, at a east substantially equivalent to
the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer
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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 shall 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 condition of making the Loan and Borrower was
required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower
shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss
reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement
between Borrower and Lender providing for such termination or until Lermination is required by Applicable
Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
Mortgage InSUT'dllce 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 InSUT'ànce.
Mortgage insurers evaluate their total risk on all such in.surance in force from time to time, and may
enter into agreement.s with other parties that share or modify their risk, or reduce losses. These agreements arc
on terms and conditions that arc satisfactory to the mortgage insurer and the other party (or parties) La 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).
As a ,esult of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
other entity, or Uny affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
fTOm (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
aftiliate 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 teoned "captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay I'or
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 Harrower 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 receive certain disclosures, to request and obtain cancellation 01' the Mortgage
Insurance, to have the Mortgage Insurance terminated automutically, 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 rcsLoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is nm 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
WVOMING· SIngle Family. FannIe Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
VMP@
Woller, Kluwa, Financial Services
r Form'0011101
'.1J!)VMP6AIWY) 10606).00
Initial... Page 9 01 16
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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 LO 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 LO the sums secured by this Security Instrument, whether or not then due, with the excess, if
any, paid LO Borrower,
In the event of a partial taking, destruction, or loss in value of the Properly in which the fair market
value of the Property immediately before thc partial laking, destruction, or loss in valuc is equallo or greater
than the amount of the sums secured by this Securily Inslrument immediately before the partial taking,
deslruction, 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 LOtal 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 partia] taking,
destruction, or Joss in value. Any balance shall be paid to Borrower.
In the event of a partial taking, deslruetion, or loss in value of the Property in which the fair market
value of the Property immediately before the partial Laking, deslruction, or loss in value is less than the
amount of the sums secured immediately before the partial taking, deslruction, or loss in value, unless
Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied LO 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 afler the date the nOliee is g.iven, Lender is authorized to coHect and
apply the Miscellaneous Proceeds either to resLOration 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 sball 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 malerial impairment of Lender's interest
in thc Property or righL~ under this Security Instrument Borrower can cure such a dcfault and, if acceleration
has occurrcd, reinslale as providcd in SecLion 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 arc not applied to restoration or repair of the Property shall be applied
in the order provided for in SecLion 2.
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ot the time for
payment or modification of runorLization of the sums secured by this Security Instrument granted by Lender
LO Borrower or any Successor in Interest of Borrower shaH not operate to release the liability of Borrower or
any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any
Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization
WVOMING· Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
VMP@
Woller. Kluw8r Financial Servicu
~~ Form30511/01
IÙ !5tMP6A(WYI (0606).00
Initial. Page 100116
øOú\346
252518063
of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
including, without limitation, Lender's acceptance of paymenL~ from third persons, entities or Successors in
Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the
exercise of any right or remedy.
13. Joint and Several Liability; Co-sil(ners; Successors and Assil(ns Bound. Borrower covenanL~ and
agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who
co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security
Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this
Security Instrument; (b) is not personany obligated to pay the sums secured by this Security Instrument; and
(c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any
accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's
consent.
Subject to the provisions of Section IH, any Successor in Interest of Borrower who assumes Borrower's
obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of
Borrower's rights and benefits under this Security Instrument. Borrower shan not be released from
Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in
writing. The covenants and agreemenL~ of this Security Instrument shall bind (except as provided in Section
20) and benefit the successors and assigns of Lcnder.
14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this
Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In
regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee
to Borrower shan not be construed as a prohibition on the charging of such fee. Lender may not charge fees
that arc expressly prohibited by this Security Instrument or by Applicable Law,
If the Loan is subject to a law which seL~ maximum loan charges, and that law is nnaIly interpreted so
that the interest or other loan charges collected or to be coHected in connection with the Loan exceed l11e
permitted limiL~, then: (a) any such loan charge shaH be reduced by the amount necessary to reduce the charge
to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits
will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under
the Note or by making a direct payment to Bor,ower, If a refund reduces principal, the reduction will be
treated as a partial prepayment without any prcpayment charge (whether or not a prepayment charge is
provided for under the Note), Borrower's acccpk1nce of any such refund made by direct payment to Borrower
will 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 shall constitute notice to all Borrowers unless
Applicable Law expressly requires otherwise. The notice address shaJI be the Property Address unless
Borrower has designated a substitute notice address by notice to Lender. Borrower shaJI promptly notify
Lender of Borrower's change of address. If Lender specines a procedure for reporting Borrower's change of
address, then Borrower shall only report 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 st:Jted herein unless Lender
t~ Form 3051 1/01
I~DMP6AIWVII01J061.00
Inl1la1 . Page 11 01 16
WYOMING· Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
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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 actually received by Lender. f 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 Securily Instrument shall be governed
by federal law and the law of the jurisdiction in which the Property is loealed. AH right.~ and obligations
contained in this Security Instrument are subject to any requirement~ and limitations of Applicable Law.
Applicable Law might explicitly or implicitly allow the parlies 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 shan
not affect other provisions of this Security In,5trument or the Note which can be given effect without the
conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shaH 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. norrower's Copy. Borrower shan 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 interesL~ 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 Sel:urity Instrument.
However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shaH give Borrower notice of acceleration. The notice shaH
provide a period of not less than 30 days from the dale the notice is given in accordance with Section 15
within which Borrower must pay all sums secured hy 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. lIorrower's Right to Reinstate After Acceleration. If Borrower mcets certain conditions,
Borrower shall have the right to have enforcemcnt of this Security Instrument discontinued at any time prior
to the earliest of: (a) Jive days before sale or the Property pursuant to any power of sale cont.,ined 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 fces incurred for the purpose of protecting Lender's
interest in the Property and righL~ under this Security Instrument; and (d) takes such action as Lender may
reasonably require to assure that Lender's inlerest in the Properly and righL~ under lhis 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 selecled by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or
t Form 30511/01
.. ffiĊ¸MP8A/WVII0808),OO
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WVOMING· Single Family· Fannlø Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
VMP Ié>
Wollen Kluwe, FInancial Services
252518063
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 obligutions 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¡ ChanJ:e of Loan Servicer¡ Notice of Grievance. The Note or a partial interest in the
Note (together with this Sceurity Instrument) can be sold one or more times without prior notice to Borrower.
A sale migbt result in a cbange in the entity (known as the "Loan Servieer") that co]ect~ Periodic Payment~
due under the Note and this Security Instrument and performs other mortgage loan servicing obligatiQns
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 payment~ should be made and any other infoonation RESPA requires in connection with a
notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other
th'an the purchaser of the Note, the mortgage loan servicing obligations to Borrower wiU remain with the
Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser
unless otherwise provided by the Note purchaser.
Neither Borrowe, nor Lender may commence, join, or be joined to any judicial action (as either an
individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security
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 with the requirement~ of Section 15) of such alleged breach and afforded the other party hereto a
reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time
period which must elapse before certain action can be taken, that time period will 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 the norice of acceleration given to Borrower pursuant to Section 18 shall be deemed to
satisfy the notice and opportunity to l1lke corrective action provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Subslallces" are those
subslallces defined as toxic or hazardous subslallces, pollutant~, or wastes by Environmental Law and the
following subslallces: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and
herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b)
"Environmental Law" means federal 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 de!ïned 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 Subslallces, on or in the Property, Borrower shall not do,
nor anow anyone else to do, anything affecting the Property (n) that is in violation of any Environmental
Law, (b) wbich creates an Environmental Condition, or (c) which, due to the presence, use, or release of a
Hazardous SubslaIlce, creates a condition thal adversely affecL~ the value of the Properly. The preceding two
sentences shall not apply to the presence, use, or storage on the Properly of smaJI quantities of Hazardous
Subslallees that are generally recognized to be appropriate to normal residential uses and to maintenance of
the Property (including, but not limited to, hazardous substances in consumer products),
WYOMING. Single Family· Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
VMP@
Woller! Kluw8r Financial Servlce8
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PBA(WV) (OaOB).OO
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252518063
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 Environmental Law of which Borrower has actual knowledge, (b) any
Environmental Condition, including bUL not limited to, any spilling, leaking, discharge, release or threal or
release of any Ha£ardous Substance, and (c) any condition caused by the presence, use or release of a
Hazardous Substance which adversely affecLs the value of Lhe Property. If Borrower learns, or is notilïed by
any govemmenml or regulatory authority, or any private party, that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial
actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an
Environmenml Cleanup.
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 Horrower, 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 IS. Lender shall
publish the notice of sale, and the Propert)' 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 thi~ 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 SeeuriLy Inslrumem, Lender shall release this
Security Instrument Borrower shall pay any recordation COSl~. 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 ali rights under and by virtue of the homestead exemption
laws of Wyoming.
WYOMING· Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
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Wolter. Kluwef Financial Servlc8S
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252518063
BY SIGNING BELOW, Borrower accepts and agree,~ to the terms and covenants contained in this
Security Instrument and in any Rider executed by Borrower and recorded with it.
Witnesses:
(Seal)
(Seal)
-Borrower
-Borrower
(Seal)
-narrower
(Seal)
-Borrower
(Seal)
(Seal)
-Rorrower
-Horrower
~J~~NG. Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
Woltets KluW8' Financial Servlcu
~ Form 30511/01
P6AIWVlloe061.00
101tla10:. . Page 150116
STATE OF WYOMING,
LINCOLN
This instrument was acknowledged before me on
by JEAN L BUNNER
DANIEL G BUNNER
My Commission Expires: 01/1;1.);;0) I
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252518063
County ss:
APRIL 1, 2009
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Loan #
252518063
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 9 of Block 49 of Second Addition to the Town of Kemmerer, Lincoln County, Wyoming
as described on the Official Pi at thereof.
Assessor's Parcel No:
12-2116-23-1-13-018.00