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HomeComings Financial Network, Inc,
One Meridian Crossing, Ste. 100
Minneapolis, MN 55423
Loan Number: 041- 248190 -5
872359
Prepared By: HomeComings Financial Network
14850 Quorum Drive, Suite 450
Dallas, TX 75240
DEFINITIONS
[Space Above This Line For Recording Data]
MORTGAGE
WYOMING- Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT WITH MERS
MFWY7770 (11/00) 041- 248190 -5
6A(WY) (0005).01
Page 1 of 15 Initials: 4/
VMP MORTGAGE FORMS (800)521 -7281
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MIN 100062604124819055
Words used in multiple sections of this document are defined below and other words are defined in
Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are
also provided in Section 16.
(A) "Security Instrument" means this document, which is dated MARCH 23RD, 2 0 01
together with all Riders to this document.
(B) "Borrower" is
PETER L. WELKER AND WIFE, PAIGE A. WELKER
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is
acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee
under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an
address and telephone number of P.O. Box 2026, Flint, MI 48501 -2026, tel. (888) 679 -MERS.
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DNI )RIOM,LEN 'IVIONVNI3 SDNIWOOEWOH si „a (Q)
(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or
not that party has assumed Borrower's obligations under the Note and /or this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrumentsecures to Lender: (i) the repayment of the Loan, and all renewals, extensions and
modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under
this Security Instrumentand 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
[Type of Recording Jurisdiction] [Name of Recording Jurisdiction]
LOT 51, NORDIC RANCHES DIVISION NO. 4, LINCOLN COUNTY, WYOMING,
ACCORDING TO THAT PLAT RECORDED AUGUST 9, 1994 IN THE OFFICE OF
COUNTY CLERK AS INSTRUMENT NO. 787903, PLAT NO. 311 -C.
Parcel ID Number: 36192610005100 which currently has the address of
916 SADDLE DRIVE [Street]
ETNA [City] Wyoming 83118 [Zip Code]
"Property 'Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and all
easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and
additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title
to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or
custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any
or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to
take any action required of Lender including, but not limited to, releasing and canceling this Security
Instrument.
BORROWERCOVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
encumbrancesof record. Borrower warrants and will defend generally the title to the Property against all
claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non uniform
covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
property.
MFWY7770 (11/00) 041 248190 -5
6A(WY) (0005).01
Page 3 of 15
J 96
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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 shall for all purposes be deemed to
be a covenant and agreementcontainedin this Security Instrument, as the phrase "covenant and agreement"
is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and
Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9
and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such
amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in
such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
Law.
The Funds shall be held in an institution whose deposits are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
Funds and Applicable Law permits Lender to make such a charge. Unless an agreementis made in writing
or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
as deemed under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
Lender the amount necessary to make up the shortage in accordancewith RESPA, but in no more than 12
monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
to Borrower any Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
ground rents on the Property, if any, and CommunityAssociation 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 securedby the lien in a manner acceptable
to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith
by, or defends against enforcementof the lien in, legal proceedings which in Lender's opinion operate to
prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
are concluded; or (c) secures from the holder of the lien an agreementsatisfactory 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
MFWY7770 (11/00) 041 248190 -5
6AIWY) (0005).01
Page 5 of 15
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Form 3061 1/01
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se zapuari auneu Begs pug `asnup a2ii 1oui pzepuels u wpnpui nets `saioilod ions oAozddgsrp oI I Ti
s,zapua -i oI loafgns aq hugs saiogod ipns jo slemauaz pug xapuari iiq pazmbaz saiogod aougmsui ITV
•luaw(i d 2ugsanbaz zamouog of zapua -i
urozu a n ou uodn `isazalur tans Tim `alquAud aq lieu pug luaurasmgsip jo auup ail uiozj ale' 0 1 0 N aql le
Isamu! igag hits sTunouig asst j •luaumzisui kpunoas sup Aq pins zamouog jo igap ieuopippe auioaaq
digs g uoiioas sup zapun zapua- £q pasingsip spunom Auy •pauiglgo angg pinoo zamoz'0g rip aoueznsur
jo usoo ail paaoxa iipueo!Jmuiiis 1112iui pauigigo os a5e1 A03 aouUmsu! ail jo Tsoo ail Tggl so2paimoupg
zamouog 130330 uT ,iisnoinazd sgm uggl o2ezanoo zassai zO zapgoi2 apinozd I1Aui pug Aiiliquu zo pzgzgq
`lisp Niue 1511ie2g 4iliadozd ail jo sivaluoo alp JO `Suzadozd ail ui ,limbo s,'amo"og zamouog loalozd lou
1112Tui JO Trier lnq `zapua -i z0A03 dells oSuzanoo inns `azopa'at,L •a2e'anoo jo lunouie zo adAi'uinoiu'gd
Aug aseipind 01 uoile2igo ou zapun si zapua- •asuadxa s,'amouog pug uogdo s,zapua-i Tg `02gzan03
aaugmsun uieigo hut zapua-i `anogg pwgtzosap sa2uzanoo gip jo &ue uruluruui of sligj JO /O "Og 3I
zamo "og �iq uopoafgo ug uro'j &ui2lnsa' uoileuiuuauap auoz pooij Aug jo Awing'
agi IpTM uoIioauuoo It! Aauo2yivaura3eugyN bua2zwurg igzapaa ail Aq pasodun son Aug jo luauthid
ail zo3 aigisuodsaz aq osle nets zamouog •uorleoijizao zo uoipuiuualap tans loajje Iij w Slgguosuoi
t uim moos sip zgiiuus zo s &uiddeuiaz auiii gaga snip Iuanbasgns pug saainzas uopgoT3ipao pug
uoiuguiuualap auoz pooij zo3 92'eto gait -auo a (q) JO :saainus 2uixoe'I pug uoiTgo!Jipaa `uoileu!tuinop
auoz pooTj zo3 gamy anal -auo a (g) :zaiTTa `ugo-i sup glim uomouuoo ui `pied of 'amo"og o inbaz
zapua -i ligguosgamun pasioxaxw aq lou hugs Iglu ioigm `aoioio s,zamozzog anozddusrp oT 11421.t
s,zapua -1 of loafgns zamo"Og uasogo aq Bits aougznsun ail Suipinozd 1 1P3 aouemsui am, •ugori ail
jo anal alp Suimp o2ugip ago saoualuas Suipaoazd a p of lugnsmd sazrnbaz zapua-i letM •sauunbaz zapua-i
Imp spouad ail zo3 pug (slang! aigiTonpap 2uipnpui) siunouru alp ui paurluieur aq dills aougznsui siq i,
•aougznsui sazinbaz zapua -1 rpigM zo3 `spooTj puesarnbtp'ga `o) paiiuul iou Inq Tuipnpum sp'ezi q Jails
Aug pug „`aRe'wnoo papualxa„ uizaT atp uiglrm papnpur sprzgq `OJII Sq ssoi 1SUF2e pamsui £lzadozd alp
uo paloa'a za13gazag zo &ugsixa Mou spuauianozduii agI daa)i iiggs z0MOZZ0g •aoueansui Siaadoad •S
•ueoi sTgl glint uoiloauuoo ui zapua i 1iq pasn aoTnzas dupiodoi
'o /pue uopeouuan xel mpg luaz g zo3 any auul -auo a lied 01 zamozzog a'inba' Sum zapua-!
17 U0p30s sttp ui anogg ilzoj I0S SUOIIog 0111 JO azoui
zo auo a)igu nail ail (jsilgs !legs zamouog `uani2 st aorpou Tutu g3TgM uo amp a 3o &iup OT uiglMM •nail
the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in
Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day
period will begin when the notice is given. In either event, or if Lender acquires the Property under
Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance
proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and
(b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by
Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the
coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or
to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender
otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
circumstances exist which are beyond Borrower's control
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the
Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in
order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
condemnationproceeds are paid in connection with damage to, or the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
purposes. Lender may disburse proceedsfor the repairs and restorationin a single payment or in a series of
progress payments as the work is completed. If the insurance or condemnationproceeds are not sufficient
to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of
such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
reasonable'cause, Lender may inspect the interior of the improvements on the Property. Lender shall give
Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application
process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's
knowledge or consent gave materially false, misleading, or inaccurateinformation or statementsto Lender
(or failed to provide Lender with material information) in connection with the Loan. Material
representationsinclude, but are not limited to, representations concerning Borrower's occupancy of the
Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
(a) Borrower fails to perform the covenants and agreementscontainedin this Security Instrument, (b) there
is a legal proceeding that might significantly affect Lender's interest in the Property and /orrights under
this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnationor forfeiture, for
enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
Instrument, including protecting and /orassessing the value of the Property, and securing and /orrepairing
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
MFWY7770 (11 /00) 041 248190 -5
-GAMY) (0005).01
Page 7 of 15
61) 0
Form 3051 1 /01
L0 /L L90E WAO(
9 L to 8 abed
to•(e000) IAM)V9
5 (00 /Ii) OLLLAmdWWI
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slap u! 5ui poN •mw; ajgeagddy Agpannbos s!UopeUiruso; j1;un zouogett uma; gans so; &uipinozd zapua7
pug 1amo11oguoom ;ag;uauraaae 110 ;pm g3Imoouipzo33i ui spuaaauemsui o2r5pow 1oluaurasniba1
s,lapua -I ;pun `an1as01 sso; ajgepun;al -uou g apinozd 0; so 'pogo m a3ug1nsui a$e23loyg uig;uteur
o; pannbos suintuiald ag; pied j;ggs 1amo11og 'a3uemsui 22e2 10JA so; SWnnuosd ag; ;Immo; s;uauried
p0311u*sap Aii0;11zedas alum o; paiinbox SEM 1amo1zog pue ueo-i alp Suppui ;o uoi ;mpUo3 11 se a3u11msui
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salmb31 zapuo'i pug 'pauiglgo sr 'a ;gejiene saui000q uie2e 1apua1 popops zamsui ue dq papino1d
(sa1!nbos sopua•i ;rip popod gip so; pug;unouie ag; in) aelano3 a3ug1nsui o2r2isoj 31 s ;uaugrd an1asos
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aq 3ou jji qs lapua' pue 'jjn; 111 pied iimmunjn si ueo-j ago ;gip 33e; 0111 Suipug ;sipim;ou'aigepunjo1 -uou
aq Hugs ansosaz sso; gans •a3ugznsui aeS ;ioyAI ;o nail ut OAIOSaz sso; ojg11punjos -uou a se sluauwird
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(b) Any such agreements will not affect the rights Borrower has if any with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
may include the right to receive certain disclosures, to request and obtain cancellation of the
Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and /or to receive a
refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
During such repair and restorationperiod, 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 undertakenpromptly. 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 agreementis 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 restorationor repair is not economically feasible or Lender's security would
be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
greater than the amount of the sums secured by this Security Instrument immediately before the partial
taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is less than the
amount of ,the sums secured immediately before the partial taking, destruction, or loss in value, unless
Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
secured by this Security Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
sums securedby this Security Instrument, whether or not then due. "Opposing Party" means the third party
that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
accelerationhas occurred, reinstate as provided in Section 19, by causing the action or proceeding to be
dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of
any award or claim for damages that are attributable to the impairment of Lender's interest in the Property
are hereby assigned and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be
applied in the order provided for in Section 2.
MFWY7770 (11/00) 041 248190 -5
6A(WY) 10005).01
Page 9 of 15
Initials: 7 t (tJ
0?0,
Form 3051 1/01
1.0
L90£ WJOj
L; °OL 06 d
LO'(5000) (Am)v9- CSD
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tpuit uo11oauuoo 111 patuzojzad saolnias zo3 saa3 10M0110g 02zetp SEW zapua-1 •sa2aeg3 ago'! •6I
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ui papinozd sg ld0ax0) pulq pp11gs luatu1Ilsuj *moos sup 3o sluaura01211 pure sluguanoo ags •2ulum
ui as11apaz gons 015001211 Japua1 SSapun111aWmI1SUj dltznoas sup Japan dlgiggq pug suop112ggo s,zamonog
utozjpasiapJ aq 1ou 111115 10M0110g •luaurnIlsuj d1tmoas sup Japan sluguaq pug 511211 SelOMOJJOg 3o TIE
tngigo iptis `Japua7 dq panozdde sr pug `211r11Jm upuaumllsu! Stpnoas sup 1apun suog1112igo s,zamozzog
sauumssg ogm JOMOIJog JO 15010111! to 105S033nS due `gj uoiloaS 3o suorsinozd gip 01 pafgns
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ail lnolllm a1obf alp 10 luaum.11mi dlimoas sup jo sting) x111 01 pz11201 glrmsuop11pourur00011 Aug glum
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agl.Iapun dllado.Id 0111 un lsaza1un s,zau2r5 -oo affil danuoo pug 1111112 `02112110W o1 djuo luatunllsu! diunoas
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•dpatual .to lg211 Aug 3o 051310x0 alp apnpaid
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pgum2uo ail ifgap11urpugulap Aug J0u051101 dgluaurnllsu! *moos sup dgpalnaas stuns all joto11ez11Joutu
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16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be
governed by federal law and the law of the jurisdiction in which the Property is located. All rights and
obligations contained in this Security Instrument are subject to any requirements and limitations of
Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it
might be silent, but such silence shall not be construed as a prohibition against agreementby contract. In
the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable
Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
given effect without the conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include
corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and
include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to
take any action.
17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18,
"Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited
to, those beneficial interests transferredin 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 Interestin the Property is sold or transferred(or if Borrower
is not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior
written consent, Lender may require immediate payment in full of all sums secured by this Security
Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by
Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall
provide a period of not less than 30 days from the date the notice is given in accordance with Section 15
within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay
these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this
Security Instrument without further notice or demand on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,
Borrower shall have the right to have enforcement of this Security- Instrument discontinued at any time
prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale containedin
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
Instrumentand the Note as if no accelerationhad occurred; (b) cures any default of any other covenants or
agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited
to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the
purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d)
takes such action as Lender may reasonably require to assure that Lender's interest in the Property and
rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security
Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatementsums and
expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c)
certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon
an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic
Funds Transfer. Upon reinstatementby Borrower, this Security Instrumentand obligations secured hereby
shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not
apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in
the Note (together with this Security Instrument) can be sold one or more times without prior notice to
Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects
Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan
servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be
one or more changes of the Loan Servicer unrelatedto 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
MFWY7770 (11/00) 041- 248190 -5
42> 6A(WY1 (0005).01
S a 53
Page 11 of 16
Initials: f (.-IA}
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Form 3051 1/01
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of pug sasn igpuapisaz Ieutzou of algudozddg aq op paziuBooaz Aliezaua2 aze lop saouelsgns snopzgzeH
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MFWY7770 (11 /00) 041- 248190 -5
(SD 6A(VVY) (0005).01
NON UNIFORMCOVENANTS. Borrower and Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to
acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a)
the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date
the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the
default on or before the date specified in the notice may result in acceleration of the sums secured by
this Security Instrument and sale of the Property. The notice shall further inform Borrower of the
right to reinstate after acceleration and the right to bring a court action to assert the non existence of
a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or
before the date specified in the notice, Lender at its option may require immediate payment in full of
all sums secured by this Security Instrument without further demand and may invoke the power of
sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all
expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower
and to the person in possession of the Property, if different, in accordance with Applicable Law.
Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall
publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable
Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be
applied in the following order: (a) to all expenses of the sale, including, but not limited to,
reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to
the person or persons legally entitled to it.
23. Release. Upon payment of all sums securedby 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 renderedand the
charging of the fee is permitted under Applicable Law.
24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead
exemption laws of Wyoming.
Initials: LiJL)
Page 13 of 15 Form 3051 1/0 1
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STATE OF WYOMING,
My Commission Expires: 9-/f-O3
1
MFWY7770 (11/00) 041- 248190 -5
6A(WY) (0005).01
Page 15 of 15
Initials:
County ss:
The foregoing instrument was acknowledged before me this o2 3d'D Al' c) F Ageel.2 0 01
by
PETER L. WELKER AND WIFE, PAIGE A. WELKER
PENNYJONES- NOTARY PUBLIC
CoUntyof?:
Lincoln
M Commission Expire. Se
State of
Wyoming
ember 18, 20C3
Form 3051 1/01