Loading...
HomeMy WebLinkAbout877316~935643 Return ,: ~,~:. IVl!ii) 3601 ~SOTA DR. SUITE 200 Prepai'ed By: WELLS GO ~0~ MORTGAGE, INC. 1919 D , OMANA, lee 681010 [$1mce Above 'l"nh Line For Recording Data] -MORTGAGE DEFIN' Words tsed in multiple sectilms ct' this docmrm~t are dcfmt:d below and o~her words are defined in Suction: 3, 11, 13, 18, 20 and 21. Certain rules regarding th= usage of word.~ used in this document utc also pro/ideal in Section 16. (A) :urity h~strument" means this document, which is datedlStO'V-Z'm~ZR 0~, 2001 , Ir, with all Riders to this document. (R) "Borrower" is DANIEL JACOB RU'HL , A SINGLE PERSON Borrow is thc mortgagor under this Security Instrument, (C) "Lu '" is WELLS FARGO HONE MORTGAGE, INC. Lender a CORI: OI~ATION On :d anti uaisting under thc laws of T~ STATE OF CALIFO~IA WYOMlllG.Single Family. Fannie Mae/Freddlo Mac UNIFORM INSTRUMENT Form 3051 1/01 Lender's ~ddress is P.o. BOX 5137, DES MOIlq~S, IA 503065137 Lmlder is the mortgagee under this Security Instrument. (I)) "Not,?' memos thc promissory note signed by Borrower and daludNOVE'b~ER 09, 2001 ., The Note states that Borrower owes Leader rxF~r¥ SEVZN TxortsJ~m Ju, m oo/~oo Dollars (U.S. $ * ~'** ~' 57, o o o. 0 o ) plus intere.~t. Borrower has promised To pay this debt in regular Periodic Payments and to pay the debt irt full not later than DECW~,mER 0~., 2031 CE) "Pro aec'fy" means the property that is described below under the heading "Transfer of Rights in the ProPerty (F) "l,oah" means the debt ~videnccd by the Note, plus intl.'rest, any prepayment charges and tat= charges clue undc~the"' Note, and all sum~ due under thi.~ Security h~trument, plus interest., (G) "Rid]ers" means all Riders to this Security Instrument that are executed by Borrower, The Riders m' to be e×ecuted by Borrower [check box as applicable]: ['"'~ Adj stable Rate Rider ["-~ Condominium Ri~'-r ~ Second Home Rider [_i}.'_'] Bat ~on Rider ~-..__~ Planned Unit Development Rider ~ 1-4 Family Rider ['--} VA {hler [] Biweekly Payment Rider ' ~....J Other(s) [specify] TAX-EXEMPT FINANCING RIDER CH) "Ap )licable Law" means all controlling applicable federal,: state md local statutes, regulations, orclinm~c~is and administrative niles_ ,'md orders (that have the effect of law) ~ well as ~ll applicable final, non-appe,qable judicial opinions. (!) "Contmunity Association Dues, Fees, and Ass~ssmemtS" means all d~ms, fees, assessmenls and other charges hat are imposed on Borrower or the Property by a condominium association, homeowners associati{m or similar orgmfization. (J) "Ele, tlronic Fund.q 'lh-an.qfer" me~rts any transfer of funds, other than a trans,~ction originated by check', d:aft, or similar paper instrument, which is initiated tlxrough an electronic terminal, telephonic instrument, computer, or ~rmgnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such ternx includesl but is not timked to, point-of-sale transfers, automated teller machine transaction.q, transfers initiated by telephone, wire trmufers, and autorrmted clearinghouse transfers (K) "Est :,w lte~ns" means those items that are described in Section 3. (L) "Miseellaneou.q Proceeds" me,ms any compensation, settlement, award of damages, or procoeas paid by any 0.ird party (other tMn im~urance proceeds paid under the coverages described in Section 5) for: 6) damage ~o, or destruction of, Ihe Property; (ii) tendon'marion or other taking of all or any part of the Property (iii) mmveyance in lieu of condemnation; or (iv) misreprescmtations of, or omissions as to, the value am/or condition'of the Property, (M) "Mf,rtgage Insurance" means insurance protecting l~nder against the nonpayment of, or default on, the t,oan (N) "Periodic Payment" means the regularly scheduled amount due for(i) principal and interest under the Note, phts (ii) any nmounl* under Section 3 of this Security Instrument. (O) "RI(SPA" memos d~e Real Estate &.-ttlcment Procedures Act (12 U.S.C. Section 2601 et seq,) and its implementing regulation, Regulation X (24 C,F,R. Pan 3500), as riley might be amended from time to time, or any ,'u. tditional or successor legislation or regulation that governs the.same subject matter. As used in this S:curity Instrumm~t, "RESPA" refers to ~l requirements and restrictions that are imposcxl in regard m a "ret.orally related mortgage loan" ~vcn if the Loan does not quality as a :'federally related m~mgagc loan" un:icr RESPA, (~6P. fY} leech) ,,~0~. ~ ~ ~S Form 30'51 1/01 822' (P) "Suc :essor in Interest of Borrower" me~s any party th,~t has taken rhle to the Property, whethux or not that arty Ires :~suntcd Borrower's obligations m~der the Note and/or Sis S~rky Instrument. TRANS ER OF RIGIITS IN TH~ PROPERTY This 5cc~rity Instalment secures to ~nder: (i) ~e repayment of the Lo~, and a)t renewals, extensions and modifi~a ions of the N~te; ~nd (~i) the performnnca of Bm'toWer's coverts ~:d ~grccm~ts under thB Sc~n'ity Instrument and the Note, For this purpose, Borrow~ does hereby mortgage, grmu ~nd convey [o l~ndcr ~nd L~dcr's ~c~sors mtd assigns, with power of sale, ~e followh~ desc~bcd prope~xy lo~aled iff fl~e C 3~Y of LINCOL~ : [q'y~ of ~cordin~ Jur{sdk'fion] [Namu (~f Recto'ding Jurhdicth,n] P~T OF SECTION 6, T31N R118W OF T~ 6TH P,M., LINCOLN CO~Y, ~OMI~DESCRIBED MORE P~TIC~ARLY AS FOLLOWS~ CO~NCIN~ 41 FEE FEET SO~H DF THE NORT~EST CO~R OF SW1/%SWZ/4 OF SAID SECTION 6, ~ ON THE EIGHT O FWAY U.S. 89 NORTH HIG~AY ~ R~ING THENCE SO~M 79 FEET; T~ENC] EAST 133 FEET; T~NCE NORTH 70 FEET; T~NCE WEST 28.5 FEET; T~NCE NORTH 9 FEET; ~ENCE WEST 104.5 FEE ~EET TO THE POI~ OF BEGI~ING. THIS ~S A PURCI-I.A.SE MOlqEY SECLrRITY INSTRUMENT. TAX S~ATEM'ENTS SHOULD BE SENT TO: WBLLS FARGO HOME MORTGAGE, INC., P.O. BOX 53~37, DES IMOIN~S, IA 503065137 Parcel ll Number: 0011100 which currently ha~ thc address of 83152rlU.S,HIGlTWAY 89 SOUTH AFTON [City] , Wyoming 8311o [Zip Cod~] ("Prope %'y Addrc~.~"): T¢~GE'FHER WITH all the {mprovmnents now or hereafter erected on the property, and all eascmei~ts,~.appurtcnances, and fixtures now or hereafter a part of Ihe properly. All rcplacemeuts and addi6or s shall also hu c°v~cd by this Security Instrument. All of the foregoing is referred to in this Steer{tx~ Instrument as ihe "Propm'ty.' Bi)RROWER COVENANTS that Borrower is lawfully sc{seal of the estate hereby conveyed ~nd the rigl.t Id ]~(~rtgagc", grant and convey thc Prope~y and that the Property is unencumbered, excep! for cncumkrm'~ces of r=~ord. Borrower warrar~s and will defend generally thc t~ttc ~o the Prop~y agains[ claims md dc~ds, subject to uny cncambrmlces of T'.-IIS SECURITY INSTRUMENT combines un,folio covenants for national use ~nd non-l%Diforn% covenants whh lhni~ud variations hy jui'hdiction to constitute a unifoml sccurity h~stn~ment cov~dng pmpert t, , U qlfiORM COVENANTS. Borrowcw ~d Lender covenant and.agree ~ follows: 1. Payment n~ ~incipal, Inter.t, Escrow Ite~, ~epaym~t Charge, and Late Charge. Bt~rro~r ~[ull pay when duc the principal of, and int~cst on, the debt evidenced by ~he No[= ~d ~y prcpay~ncmt ~arges and late charges duc undo' die Note. Bo~owcr shall ~so pay l~nds for ~scrow Items pursua~ ~ to 5cctitm 3. Payments duc un~ thc Note and this Security lm~mment shall be made in U,S. current ?. Howcw~, if any check or other instrument received by Lender as payment under the Nora or Security mtrument is returned to Lender unpaid, Lender may require that any or all subsequent payments dut~ under lite Note and this Security Instmrnet~t be made in one or more of thc following form.& as selected y Lender: (a) cash; (b) money order; (c) certil~ed check, bank check, treasurer's check or cashier's reck, provided any such check: is drawn upon an institution who.sc deposits are insured by a. federal a :ney, i~utrumemality, or entity; or (d) Eleclmnie Funds Transl'er. Payntenta ,~rc deemed rcccive(l by Lendc-r when receivud at the loc. atica designated in the Note or at ~uch othm locatiot~ as may be designated by Lender in accordance with tile notice provisions in Scctlon 15. I/end~r m~y retm'n any payment or partiaI payment if fl~c payment or partial payments are insufficient to bring the .can current. Lender may accept any payment or partial payment in.sut'ricien~ to bring the Lo,'u~ current, v thom waiver ut' any rights hereunder or prejudice to its right, to refuse such payment or partial payments the future, but Lender is not obligated to apply suclt payments at the time such payments are accepted. If each Periodic Payment i.q applied ~s of its scheduled due date, then Lender need not pay interest o~ unapplied funds. Lender may hold such unapplicd funds until Borrower makes p~tymem to bring the Loan current. If Borrowe'r does not do ~o widlin a reasonable period of time, Lender shall either apply such fund; or return them to BOrrower. If not applied earlier, such funds will be applied to rite outstanding principal ~alance under'the Note immediately prior to foreclosure. No offset or claim which Borrower might ha~e now or in ~e future against Lender shall relieve Borrower from making payments due under md this Security Instrument or performing the covenants and agreements secured by this Security the Note: instrume,: ~. '~. /.pplietxtion t}f Paymmtts or Proceeds. Except as otherwise described in this Section 2, all payment.~ accepted and applied by Lender shall be applied in the following order of priorky: (a) interest due undo' the N~te; (b) principal due under the Note; (e)amounts dtte under Section 3. S'uch payment,~ shall be ~Pplied to each Periodic P~tymont in tile order in whiclt it became due. Any remaining amounts shall be =pplied first to late charges, second to mty other amounts due under this Security In~trumt-"nt, cud tlten to r~,duee the principal balance of the Note. If I. coder rceeiv~ a payment [rom Borrower for a detlnquent Periodic Payment which includes a su2'icient amount to pay any late charge tlue, the payment may be applied to the delinquent payment ~utd lhe late c uu'ge. If more than one Periodic paymem is outstanding, Lm~der may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the ex, em that, each payment can be paid in fl 1I, To thc extent that any excess exists after thc paymem is applied, to the full payment of one or more Per. odic Payments, sud~ excess may be applied to any late charges due. Voluntary prepayments slmll be applie~[ first to a~xy prepayment ch~ges and then as described in the NOte. Any application of payments, inrurrmce proceeds, or Miscellaneous Proceeds to principal due under the Note ~hall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3, l'unds for Escrow Ilex'ns. Borrower shall pay to Lender on the day Pt.-riddle Payments are due under, the Note, until the Nolo is paid in full, a sum (the "Funds") Id provide for payment of arrmunts due for: (a) t.~xes and aq.,;cssments and other itc-ms which can attain priority over lhi.q Security Instalment as a licz~ or tn cumbrance on the Proper~yl (b) Ica.selmld paymenU or ground rents on the Property, it' any: (c) premium for m~y and all in.surance required by Lender under Section 5; and (d) Mortgage Insurance premium if any, or m~y sums payable by Borrowc-r to Lender in lieu of the payment of Mortgage lnsuranc~ premiums in accordance with the provisions ut Section 10. These items are called "Escrow Items." , t origination or nt any time during the term of the Loan, Lender may require that Cotra:nunity Associatim~ Dues, I:ees, and Assessments, if any, bc escrowed by Borrower, .'md such dues, fees and asscs.qments shall be an E.qcrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid, oder this Section. Burrower shall pay Lender the Funds for E~crow Items unless Lender waives Borrowc's obligation to pay the Funds for any or all Escrow Items, Lender may waive Borrower's obligntio t to pay to Lender Funds for any or all F2crow Itcn~ at any time. Any 'such waiver may only be in writin ;. In thc cwcnt of such waiver, Borrower shall pay directly, when and wh'cre payable, the amt~unu (~-6(V~Y} IoQoSl ~,.~,~4 ot ~'~ Form 3051 1/01 O Y77;.LLG 82 3 due for any Escrow ltem.q for which payment of Funds has been waived by Lender and, if l.¢nfler requires, shall furnish to Lender receipts evidencing such payment within such time pm'iud as Lender may require. Borrower's ob]igmion to make such payments anti to provide receipls shall for all peri, uses be deemed to be a covenant and agreement contained in this Security Instmmc~u, as the phrase "covenant and agreement". is used in Section 9. If Borrower is obligated to pay Escrow ttem.~ directly, pursuant to a w~ivcq', and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its right,s under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to rc~ay to Lender any such amount. Lender may revoke the waiver as ~o any or all Escrow Iterrks at any time by a 'notice given in aecordm~ce with Section 15 and, upon such revocation, Borrower sl~ll pay m Lender all Funds, ~uul in suc~t amounts, that are then required under &is Section 3. Lender may, at ~y time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply thc Funds at the time specified under RESPA, and (b) not to exceed the maximum amount n lcmder can require under RESPA. I.xmdcr shall estinu)te the amount of Funds due on the basis of current data and reasonable esti~natcs of expenditures of £uture Escrow Items or otherwise in accordance with Applicable Law. The ~'unds shall b'e held in an institution whose deposits are i~uured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits art: so insured) or in any Federal Home Loan Bank. l.ender shall apply th~ Pund-q to pay the Escrow Items no later than the time specified under RESPA. Lende? shat1 ~ot charge Borrower fur holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Irene, m~l~s Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a ci~arge. Unless an agrecanent is made in writing nr Applical~le Law requires interest to be paid on the Funds, l.rnder shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender carl agree in writing, howcwer, tlmt [merest shall be puid on the Feeds. I..cnder shall give to Borrower, without charge, an annual accounting o,f the Funds as required by RESPA. If flxere is a surplus of Ftmds 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, I.ender shall notify Borrower as required by RESPA, and Bon'ower shall pay to Lender the amount necessary to make up the sho~age irt accordance witl~ RESPA, but in no more than 12 nmnthly paymen(s. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrowcr shall pay to Leander the mnount necessary to make up tho det'icicncy in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of alt sums secured by fids Security Instrument, Lender shall promptly refund to Borrower m~y Funds held by Lender. 4. Charges; Liens, Borrowc'r ~hall pay all taxe.q, asses~ment~, charges, fines, and impositions attribu(uble to thc Property which can attain priority over this Security Inmrumcnt, leasehold payments or ground rents on thc Property, if any, and Community Association Dues, Fee~, ,'md Assessments, if any. To thc extent thru these items are Escrow he~m, 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 m~ner acceptable [() l.cml~, but only so tong as Borrower is performing such agreement; (b) contests the lien in good faith by, or del'cads against enforcement o[ the liml in, legal proceedings wtfich in Lender's opinion operate prevent the enforcement or' the lien While those proceedings are pending, but only until such proceeclh~gs are concludeil; or (c) secures rrom the holder of thc lien an agreement~ satis£actory to Lender subordinating fl}e lien tn fids Security Instrument. If Lender determines that troy part of the. Property is subject to a which can attain priority over this Security Instrument, Lender may give Borrowe[ a notice identifying the Form 3051 1/01 lien. Within 10 days of the date on whiclt that notice is given, Borrowc'r sl~a[l satisfy thc lien or take oneor more of the actions set forth above iix this Section 4. Lender may require Borrower to pay a one-time charge for a real estme tax verification and/or reporting service u.scd by Lender in connection with Ibis Loan. 5. Property Insurance. Borrower 3hall keep the improvements now existing or hereafter erected on the Propc~y insured against loss by fire, hazards included within the term "extended coverage," and rely other hazards including, but not limited to, earlhquakes and floods, for which Lender requires insurnncu. %'his insurance shall bo maintained in the amount~ (including deductible levels) and for the periods that Lender requires. W~t Lender requires pursuant to the preceding sentences can change during the tcTm of Ih¢ Loan. The ir~urance carrier providing the ins~m'mce shill be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, whicl't right sh~l riot be exercised unreasonably. Lender may require Borrowm' to pay, in connection with this Loan, either: (a) a one-time charge Cdr flood zone dcttmninntion, certification and tracking services; or (b) a one-time charge fur llood zone determination atl¢l certilication services and subsequent charges each time remappings or similar changes occur which reasm'~ably might affect such determination or certification. BorTowcr shall also be responsible for payment of nny fee's imposed by the Federal Emergtmcy Management Age-ney in connt~ction with tile review of any flood zone determination resulting from an objection by ~orrower. If Borrower fails to maintain any of the coverages descaibed above, Lender may obtain insuraatce coverage, at l,en&'r's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might no~ protect Borro~ver, Borrower's equity in the Property, or tile contents of the Property, against any risk, hazard or liahil{ty and might provide greater or lesser coverage than w~' pr~iously in effect. Bt~rrower acknowledges that the cost of the insarance coverage so obtained might significantly exceed the cost or insur,'mce that Borrower could have obtained. Any amounts disbursed by Lender under tiffs Section 5 shall become additional debt of Borrower secured by this Securi',y Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall he payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender :md renewals of suc~ policies alkali be subject to Lender's right to disapprove such policies, slxall include a slandard mortgage clause, mid ab. all name Lender as t'nongagee and/or a.~ an additional loss payee. Lm~der shall have the right to hold the policies and renewal certificates. If Ix, oder requires, Borrower shall promptly give to I.ender ali receipts of paid premiums and renewal notices. If Borrowc'r obtains any fom'~ 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 slmli name Lender as mortgagee and/or a_q an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrit.'r and Lender. Lende'r may matte proof of loss if not made prompdy by Borrower. Unless Lender and Borrower mherwise agree in writing, any in.,mranee proceeds, whether or not the underlying insurance was required by I_x:ndcr, shall lie applied to restoration or repair of tl~e Property, if tile restoration or repair is economically t'easible and Lender's security is not lessened. During ntch repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lcnde-r has had ~u~ opportunity m h~spect such Property to ensure tho work has been completed to Lender's satisfaction, provided fl~at such inspe~ion shall be undert~en. promptly, Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress paYnacnts as the work is completed. Unless an agreement is made in wdtiug or Applicmhlc Law requires interest to bt paid on such insurance proceeds, Lender shall_ not be required to pay Borrower any interest or earnings on such proceeds. Fees fur public adjusters, or other flfird parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be t-ho sale obligation of Borrower, If the restoration or repair is not economically fcmible or Lender's security would be lessened, the insurance proceeds shall De applied to the sums ~ecurcd by this Security Instrument, whether'or not ttm. n due, with lnlt,c, la:.~ Form 3051 1101 the execs.% il' any, paid to Borrower. Sucl~ insurance proceeds ~hall bc applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance el;tim and related matters. If Borrower docs nm respond within 30 days to a notice from Lmxder that thc. insurance c,qrricr h~ offered to settle a claim, tl~en 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 Scclion 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's right,~ to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security ]nstmmen't, yard (b) any other of Borrower's rigk~ts (other than the rigl~t to any refund of unearned premim~ paid by Borrower) undc'r alt insurance policies covering the Property, ituofar as such rights are applicable to the coverage of the Property. Lender may use the inset:mcr proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whetlmr or not then due. 6. Occupancy. Borrower shall occupy, e~tablish, md use the Property va Borrower's prim:ipal residence will,in 60 days after fl~ execution of this Security In.qtmment and shall continue to occupy the Property as Borrower's principal residence for at least one year ~fter the date of occupancy, unless Lender otherwise agrees in writing, which con.sent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's comrol. 7. Preservation, Maintenance and Protection o1' 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 slxall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless de~.ermincd pursuant to Section 5 that rep,fir or resl. arafion is not economically feasible, Borrower shall promptly repair t~ Property i~' d~maged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, thc Property, Borrower shall be responsible for repairing or restoring the Property only if Ecmder has released procced~ for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as 'the work is completed. If the insurance or condom, nation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration, Lender or its agent may make m.'~qonable entries upon and inspections of the Property. If it ha.s reasonable cause, Lender may inspect the interior of the irnprovemc'nt$ on tl~e Property, Leader sl~all give Borrower no[ice 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 thc direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or f,qled to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of thc Property as Borrnwc'r's'principal residence. 9, Protection el~ l.ender's Inlerest in the Prnpm'ty and Rights Under this Security Instrument.. (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument. (b) there is a legal proceeding that might significanlly at'leer Lender's interest in the Property and/or rights under this Security Instrument (such as a'prOceeding in bankruptcy, pro,ate, fi~r condemnation or forl'citure, for c'nforcement of a lien which may attain priority over this Se~trity Instrument or to enforce laws or r~gulafions), or (c) Borrower has abmuloned ~he Property, then Lender. may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and' rights undm this Se~rity hutrument, including protecting md/or ~sessing the value of the Property, and.securing and/or repairing the Property. Lender's actions can include, btit are not limited to: (a) paying any sum.s secured by a which ha.q priority over this Securil. y Instrument: (b) appearing in court; and (¢) paying reasonable Form 3051 1/01 attor~leys' I~ecs to protect [ts inlerest in the Property and/or rights Under this Security Instrument, including its Scoured position in a bankruptcy proceeding. Scouring the Property includes, hut is not limited entering lbo Property to ~ru~e repairs, change locks, replae~ or board ~.tp doors nnd windows, drain wafer from p~pcs; diminate building or other code violations or dangerous conditions, and have utilities turned da or off. Allhou~h Lender may take action under riffs Section 9, leader does not hav~ to do so and is not under any duty or obit§alien m do so. It is aErced that Lender incurs no liability for not taking any or a~dons authorized undc"r this Section ~. Any amounts disbursed by Lender under this Section 9 shall b~-come additional debt of Borrower secured by ~his Security Instrument. Th~s~ nmotmrs shall bear inlerest at d~e Note rate from the date et' disbursement and shall be payable, with su'c.h interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold. Borrower sl~all comply with all the provision,s of the lease, il.' Borrower acquires fee title to the Property, the le~¢hold and the fee title shill not merge unless l..ende-r agrees to the merger in wrhing. 10, Mortgage Insurance, I? l.ender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay tl~e prcqniurn.~ required to maintain the Mortgage Insurance in effect, .If, for any re~son, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such in.surance and Borrower was required to make separately designated payments toward the prcmiums for Mortgage Insurance, Borrower shall pay. the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost ~bstamially equivalent to thc cost to Borrower of thc Mortgage Insurance prcwiously in effect, from an altcmam mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the ,'u~ount of the separately designat~xl payments that were due when the insur, mce coverage ceased to be ht effect. Lender will accept, use and retain these paymtmts ~ a non-refundable loss reserve in lieu of Mortgage In.atonce. Such loss reserve shall be non-refundable, ~otwithstanding the fact that tho Loan is ultimately paid in lull, and Lender shall not be required to pay Borrower any interest or e~rnings on suc~ loss rose'rYe. Lender can no longer require loss reserve payments it' Mortgage htsurance cdvernge (in the amount and for the period that Lender requires) provided by an insurer selectcx! by Lender again becomes available, is obtaiued, and Lender requires separately designated payments toward ~e prcmimm for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of rn.xking the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage I~urance, Borrower shall pay the pren'fiun'~ required to maintain Mortg,~ge Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with ~y written agrec'.ment between Borrow~'r and Lender providing for such termination or undl ~,rmination is required by Applicable Law. Nothi&q in this Section 10 al'feets Borrower's obligation to pay interest at the rate provided in the Note.. Mortgage Insurance reimburses Lender (or ;u~y entity that purchases tl~e Note) for certain losses it may incur if Borrower do~.s not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. ' Mortgage insurers evaluate their total risk on all 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 conditiorm 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 paymems using any source of funds that the mortgage insurer may have available (which may include funds obtained Rom Mortgage Insurance prcmiumq). . As a result uf these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the lbrcgoing, may receive (directly or indirectly) mnounts that derive from (or might hc characterized as) a portion o~' Borrower's payments for Mortgage Inmrance, 'in exchange ~br sharing or modifying the mortgage insurer's ris~k, or.reducing lo,scs. If such agreement provides that a~ affiliate of Lender t,'&e$ a share of the insurer's risk in e~change for a slate of the premiu~n= paid to the in~urcr, the arrangement is often tun-mod "captive reinsurance.". Further: (u) Any ~uch agreementq will no/ affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms ot' the Loan. Such agreemeuts will not increa.~e the amount Borrower x~ill owe for Mortlla~e Insurance, and they will not entitle Borrower to any refund, (~-StWY) ~ooo[I ~,eS~;[ Form 30~1 1/01 (b) Any such agreements will not affect thc rights Borrower has - if any - with respect to the Mortgage Insurance cruder thc Itomeowners Protection Act of 1998 or any other law. Thee rights may include thc right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automafic'ally~ and/or to receive a rchmd of any Mortgage Insurance premiums that were unem'ned at the time of such cancellation or · termination. 11, A.~signment of Miscellaneous Proeeed.~; Forfeiture, All Miscellaneous Proceeds are hereby assigned to and sh,'dl be paid to Lender. If the Property is damaged, such Miscellm~eons Proceeds shill be applied to restoration or repair of the Property, it' the restoration or repair is economically feasible and Lender'~ security is not lessened. During such repair ~nd restoration period, Lender shall have the righ~ to hold such Miscellaneous Proceeds until Lender bas had an opportunity to inspect such Property to ensure the work has .borax completed to ].cnder's satisfaction, provided that su~ in.~l, cction shall be undertaken promptly. Lende~ tony pay for the repairs and restoration in a ,~ingle disbursement or ia a series of progress payments as the work is completed. Unless an agreement is rome in writing o~ Applicable Law requires interest to be .paid on such Miscellaneous Pwceeds, Lendc-r shall not be required to pay Borrower mxy interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lendex's security would be lessened, the Miscellaneous Procecd.q shall be applied to the sums secured by this Security Instrument, wbeth~.'r ar not ~hen due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shah be applied in the nrdex provided for in Section 2. In the event of a total taking, destn~ction, or loss in value of the Propeay, the Proceeds shall bc applied to the su~ secured by this Security Instrument, whether or not then duc, witl~ xhe 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 n~rkct valu~ of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of fl~e ~ums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, ufitess Borrower and Lender otherwise agree in writing, the sums secured by tlfi~ Security Instrmnent shall be reduced by the amount of tile Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in valse divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Amy b,"dance shall be paid m Bnrrower. In the ev~mt of a partial t,'~ing~ destruction, or loss in value of the Property in which thc fair market value o1' tile Proper~y immediately before tho partial t,~ing, destruction, or loss in value is less than the .... amount of the su~q secured immediately before the partial taking, destruct[on, or lOss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds sl~all be applied to &e sums secured hy this Security lnstmmc'nt whether or not the serve are then duc. If the Property ia abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make m~ award to settle a claim for chmag'c.s, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorizcxt to collect and apply tho Miseellaneou.~ Proceeds either to restoration or repair o1' 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 Proceed.q. Borrower shall be in default if any action or proceeding, whcther civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of thc Property or o~er material impairment, of l.m~der's interest in tile Property or rights under this Security Iastrument. Borrower can cure such a default and, if acceleration has occurred, rdnstat¢ ~s provided in Section 19, by causing thc action or proceeding t6 be dismissed with a ruling tha~, in Lender's judgment, precludes forfeiture of thc Property or other material imp,aij'm,:nt of Lemter's interc.~t in the Property or righu mxder this Security Instrument. The proceeds of · 'my award or claim lbr damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall bc paid to Lender. All Miscelt,'meous Proceeds that ate ~ot applied to restoration or repair~ot':the Property shall be applicxl in the order provided for in Section 2. ~;(W¥llooosl ~aoo~ot~B Form 3051' llO1 12. Borrower Not Released; Forhearancc By Lender Not a Waiver. Extension of the time for payment or modificatim~ el~ amortization o[' the sunu secured by this Security lnstrmrumt granted by l.cmlcr to Borrower or any Successor in Intere.qt of Borrower shall not operate 1o release the liability et' Borrower or any Successors in Interest of Borrower. Lender shall not be required to con'unencc proceedings against any hlccessor in Interest of Borrower or to refu~e to extend tirn~ for payment or otherwise modify. nmorti?~tion of ~he sums sc'curc, d by fl~is Security ln.strumea~ by reason of any dem,'md made by ~he original Borrower or any Successors irt Interest of Borrower. Any forbear,,mce by Lender in exercising any r/ght or remedy including, without limitation, Lender's accc~ptance of payments from third persons, entities or Sneee.ssors in Interest of Borrower or in amounts less th~n the amount then dne, shall i~or be a waiver of or preclude the exercise et' a~y right or remedy. 13, Joint and Several l,iahilityl Co-signers; Successors and A~signs Bound, Borrower cover~ants and agrees tha~ Borrower's obl[gatio~s and liability shall be joint and several. However, any Borrower who co-.qgtu this Security Instrument hut does not execute the Note (a "co-signer"): (a) is co.signi,~g this Security Insirument only to mortgage, grm~t and convey the co-signer's interes~ in ~he Property under the terms of this Stx:urity Instrument; (b) is not personally obligated to pay the sums secured by this Security h~trument; and (c) agrce~ 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 ce. signer's co~tsent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under Lhis Security Instrument in writing, and is approved by Lender, shaI1 obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lendm' agrees to suclx release ia writing. TI~e covenants and agreements of this Security Instrument shall bind (e~cept as provided in Section 20) and benefit the successors trod assigns of Lender. 14, Loan Charges. Lender may charge Borrower fees for services performc'd in eotmection with Borrower's default, for the purpose of protecting I.ender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation In regard to any other fees, the absence of express authority in tl~is Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Ir~trument or by Applicable Law. If the Loan is subject to a law which sets maximum lo~m charges, and that law is l~nally interpreted so that the interest or other loan' charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) ~my such loan charge shall be reduced by the tunount necessary to reduce file charge to the permitted limit; and (b) any sm already eollecled from Borrower which exceeded permitted limits will be refunded to Borrower. l.ender may choose to make this refund by reducing the principal owed under the Note t~r by making a direct payment to Borrower. It: a rcthnd reduces principal, the reduction will he treated as a partial prepayTnent withou~ any prepayment 'charge (whether or not a prepayment charge is provided for under the Note), Borrower'~ acceptance of easy sucl~ ret'end made by dir~x.-t paymc'nt to) Borrower will constitute a waiver of any right of action Borr0wcr might have arising out o t' Such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writingS. Any notice to Borrower in connection with this Secnrity Instrument sl~all be dccmcd to have been givc'n to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice lo any one Borrower shall constitute notice to all Borrowc-r~ unless Applicable Law expressly requires otherwise. The notice address shall be the Propmty Address unless Borrower has designated a substitute notice address by notice to Ix.-nder. Borrower shall promptly notify Lender of Borrower's chtmge of address. Ir Lender spec-qfie.~ a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedare. Tl~ere may be only one designated notice address under this Security Instrument at any one time. Any nod'cc to Lender sl~,all be given by delivering it or by mailing it by' first class mail to Lender'~ address staled ,heroin unless Lender has designated another addre.~s by notice to Borrower. Any notice in connection wid.~ tl~is Security hkstrument sl~aIl not be deemed to have been gte?ri.to Lender until actually received by Lender. If ,'my notice required by tl~is Security Instrument is also required under Applicable l_aw, the Applicable l.aw requirement will satisfy thc corresponding requirement.under thi.~ Security Instrument. (~D~-SIWY) 1ooo~ ~a~. ~0 ~t ~ Fo~m 3051 1/01 16. Governing Law; Severabilityl Rule'/ or Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All dght.q mid obligations contained in this Security h~.strument are s~bject to any requirement.q mid limi~ations 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 ' tlt¢ event ~.hat any provision or clause of this Security Instrumc'nt er the Note conflicts with Applicable I.aw, such conflict shall not affect other provisions of this Security Instrument ortho Note which can be given effect without the conflicting provision, . As u,~etl in this Security Instrument: (a) words of the masculine gend~x shall mean and include c, rresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; mad (c) the word ~'may" gives sole discretion without any obligation to take any action. 1'7. Borrower's Copy, Borrower shall be given one copy of the Note and of this Security Instrument. 18, Transfer of the lh-operty or a Beneficial Interest in Borrower, As used in this Section '"Interest in the Property" means ~y legal or benefici,~l interest in the Propc~rty, including, bur not limited to, those b~nefici~d interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent ct' whici~ is the transfer of title by Borrower at a future date to a purch, a~qer. If all or any part of fhe Property or any Interest in the Property is sold or transferred (or if Borrowur is mit a natural, pcrson and a t~eneficial intercst in Borrower is sold or transferred) without Lender~s prior written ore,sent, Lender may require i~runediate payment in full of all sums secured hy this Security Instrument, ttowv'ver, this option shall not be exercised By I.~der 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 die notic~ is given in accordance with Semion ~5 within ~.'hich Borrowcr'must pay all sua~ secured by iris Security Instrument. If Borrowc'r fails to pay these sums prior to the expiration of ~his period, Lender may invoke any lemedics 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, Borrowc. r shall h.ave the right ~o have enforemnent of dlis Security ln_q.rument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (h) such other period as Applicable Law might specify for the ~ennination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions arc that Borrower: (a) pays Lender all sums which then would be due tinder this Security Instrument and the Note ms 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, treasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interext in the Property and rights under this Security Instrument; and (d) lakes such action as lxnder may reasonably require to assure that Lender's interest in tlte Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secui~ed'by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement rt~ms and expenses ia one or more nit' dxe following forms, a.s selected by Lender: (a) cash; (b) money order; certified check, bank check, Iremmrer's check or ca.~lxier's check, provided any such check is drawn upon an institutinn whose deposits are insured by a fcxieral agency, instrumentality or entity; or (d) Eicon'chic Funds 'trams for, Upon reinstatement by Borrower, this Security Instrument mid obligations secured hereby shall remain fully effe~ive as if no acceleration had occurred, However, this right to rcin.qtate shall not apply in the case of a¢celc'ration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial intdrc~s,t 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 thc "Loan Servicer") that collects Perid~lic Payments duc under the Note ami this Security Instrument'and performs other rrmrtgage servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be on~ or more changes of the Loan Servicer unrelated to a sale of the Note. If there is 'a change of the Loan Smwicer. Borrower will be given written-notice of the change which will state the nhme ,-md 'address of the new. Lom~ Servicer, thc address to which payments should be m',xle and mty other information RESPA (~-6(WY) IOOOS< P~,ao~l ~ ls Form 305{' 1/01 requires in connecuon witl~ a not[ce of trans£cr of servicing. If the Nolo is told and thereafter thc Loan is serviced by a Loan Servicer oiher lhan the purchaser of die Note. the mortgage loan servicing obligutions to Borrower will remain with the I.oan Servicer or be transferred to a successor Lonn Servicer and are net ,nssumcd h7 the Note purchaser unless ml~m'wise provided by the Note purchaser. Neither Borrower nor l_ender may commence, join, or be joined to any judicial action (as either an in~lividual litigant or the member of a class) that arises from the other party'~ actions pursuant (o this Sc, curtly Instrument or ~hat alleges that ~he other parry ha~ breached any provision of, or any duty owed by rea.son or, ~ltis Security Instrument, until such Borrower or Lender h~q notified tl~e other party (with such notice given in compliance with the requirements of Suction 15) of such alleged breach and afforded the other party hereto a rcmqonable period after Ihe giving of such notice to t~ke corrective action. If Applicable Law provides a time period which mu~t elapse before certain action can be tak'ea~, that time perked will b~ dcm~md to be reasonable fbr purposes of this paragraph. Thc notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and thc notice of acceleration given to Borrower pursuant to Section' 18 shall be-deemed to satisfy the notice and opportunity to take c0rrcctiv¢ actloa provisions of this Section 20, 21, Hazardous Sub~ianees. As used in this Section 21: (a) "Hazardous Substances" are ~hose substances del]ned as toxic or hazardous subst;mces, pollutants, or wastes by Environmental Law ,'md the following substances: gasoline, kerosene, other fl~umrmble or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials contahfing ~sbestos or formrddehyde, md radioactive n'u~tcrials; (b) "Eavironmcnl-al Law'" means federal laws and laws otc thc jurisdiction where the Property is located that relate to health, safety or enviremnental protection: (o) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental l.:~w; and (d) an "Environmental Comlition" mea~s a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrowc~ shall not cause or pc, trait the pre.qenee, u.qe, disposal, storage, or release o£ any l-tazardous Substances, or threaten m release any Ha.z, ardous Substances, on or in the Property, Borrower shall not do, nor allow anyone else to do, anything affecting ~he Property (a) d~at is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, duc to ~he presence, use, or relc.',sc nfa Haz. ardous Subst:mce, creams a condition that adversely affects the value of the Property. Thc preceding two sentences slmll not apply to the presence, use, or storage on the Property of small quantities of Ilazarrlous Subslances that are generally recognized to be appropriate Io normal residential uses and to maintenance of thc Property (including, but not limited to, ha>-.ardous substm~ce~ in consumer products). Borrowc-r shall promi~tly give Lender written no,ice of (a) any investigation, claim, demand, lawsuit ¢~r other action by anygovemmental or regulatory agency or private party involving the Property and any tlaz. arctous Substance or Environmen~ Law of which Borrow~ has actual knowledge, (b) any Environmental Condition, including but not limited to, aaiy spilling, leaking, discharge, release or threat of release of any l-f~ardou.~ Substa~ce, and (c) any condition caused by ~he presence, use or relea.m of a Ha~'.;Irdous Substance which adversely affects thc value of the Propcmy. If Borrower learns, or is notit~ed by any govermnemal or regulatory authority, or any private party, that any removal or orlzer remediafion of any ltazardous Substal~ce affecting the Property is necessary, Bon'ower shall promptly take all necessary reined, iai actions in accordance with Environmental [,aw. Nothing herein shall create any obligation on Lender fi~r an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further coven,mt and agree as follows: 22. Acceleration; Remedie~. Lender shall give' notice to Borrower prior to acceleration i"ollowing Borrower's breach of any covenant or agreement in thi.q Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law l~rovides other',~4se). The notice shall specii"y; (al the default; (h) the action required to cure the default; (el a date, not le_q.q than 30 days l'rom the date the notice is given to Borrower, by which the default mu.~t he cured; and (d) that l'ailure 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 intorm Borrower or the right to reinstate after acceleration and the right to bring a court action ~o assert the non-existence at' a del'null, or ~any other defense or Borrower 1o acceleration and sale. Ir the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in I'ull oi" all sums secured by this Security Instrument without further demand and may invoke the power o1' sale and any other remedieq permitted by Applicable Law, Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Sectiou 22, including, but not lirniled to, reasonable attorney.," roes and costs of title evidence, Il" l,ender invokes the power of' sale~ Lender shall give notice alr intent to foreclose to Borrower ~nd..to the pers~m in possession of the throperty, il' dj/Terror, in accordance with Applicable 1.aw. L'ender shall give notice of the sale to Borrower in the manner provided ia Section 15. Lender shall publish the notice of sale, and the Property shall he sold in the manner prescribed hy Applicable Law, l,ender or ik~ designee may purchase the Property at any sale, The proceeds of the sale .shall be applied in the following order; (a) to all eXl~enses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all .surn.~ secured by this Security Instrument; and (c) any m:cess to the person or persons legally entitled to it, 23, Release, Upon payment of alFsums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs, Lender may charge Borrower a fee for relea.dng this Security Instrument, but only if ~h.e fcc is paid to a third party for services re'adored and the charging o f the l'ce is permitted under A. pplicable Law. 24. Waivers. Borrowe~ releases and waives all rights under and by virtue of thc homestead exemption laws of Wyoming, i[~}®.s(wv) iooos} ~,~e ~.t or IS 'x Form 3051 1/O1 BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained in this Security Instrumt:nt and in any Rider executed by Borrower and recorded with it. (Seal) -13~rrower (Seal) (Seal) -Borrower -gorrowcr ............. (Seal) (Seal) -Borrower .1~o ]'owcr (Seal) (Seal) -Borrower -Borrower .qTATE OF WYOMING, LINCOL~ County The foregoing inst~m~nt wm~ ~cknowledg~ before me ~is 9th day of November, 2001 , D~IEL JACOB R~L / (~-6GIWYI Iooo~l ~ ~$ ot ]5 Fo~m 305'i 1/01 NOV-09-200 ?RI PM NO, P, 0 /02 8935643 TAX-EXEMPT FINANCING RIDER THIS TAX-EXEMFT PlNANCING RIDF-R is made thisgTlt day of l~OVgl~,It 20ol. , mid is incorporated into ,'md shah be dcetncd to amend and supplemmu the Mortgage, Det:d of Trust or SeCUrity Deed ("Security hutmment ) of the same date given by the undersigned ("Borrower") to secure Borrower's Note ("Nr, te") tol~LLa ~'.M~GO HO~ MORTGAIgg, INE. ("Lender") al' thc same date and covering the Property described in thc Securky lmtrumcnt and located at: 83152 ~.S.]{IGHWAY 89 SOUTH, AFTON, WY 8~110 [Property Addrc.~s] AI)DITIONAL COVENANTS. itl addition to thc covemmts and agr~'cmcnts made in the Security Instrumc. nt, Borrower ~d Lender farther oovenant and. agree to mnea~d Paragraph 9 of the Security h~strumcmt, entitled "Grounds for Acceleration of Debt," by adding additional grounds for acceleration as follows: Leader, or such of its successors or ~signs as tnay by separate instrument a.qsume responsibility lbr assuring compliance by the Bo'rrower with the provisions of this Tax-Exempt Financing Rider, m;~y require immediate payment irt full of all sums secured by this Security Instrument if: (a) All or part of the Property is sold or otherwise transferred by Borrower to a purcha.qer or other transt'cree: (i) Who cannot reasonably be expected to occupy the Property as a principal residence within a reasonable time after the sale or transfer, all as provided in Sectitm 143(c) and (i)(2) of thc Internal Revenue Code; or (ii) Who has had a present ownership intere.~t ina principal residmce during any gatt of th~ threc-year period ending on the date of the sale or trna,si'er, all as provided in Section 143(d) and (i)(2) of thc Internal Revenue Code (except that "100 percent" shall be substituted for "95 perc,m~t or more" where th~ Iattc'-r appears in Seclion 143(,1)(1)): or FIIA Multiatat~ Tax-gxemgt Financing Rider- 10195 VMI~ MORTGAGE I-ORMS - 18001521-7291 .. NOV-09-2001 FRI 05:08 PM FA× NO, P, 02/02 (iii) At an acquisition cosl which is greater than 90 pel'cent of thc average area purchase price (§rearer than 110 percent for targeted mca residences), all as provided iu Section 143(e) and 0)(2) of thc Inmmal Revenue Code', or (iv) Who has a gross t'amily income in excess of the applicable median fmnily income as provided in Section 143(0 end 0)(2) of thc Internal Revenue Code; or (b). Borrower fails to occupy the Property descri,?d in tho Security Instrument wHhOut prior writtext co~ent of Lender or its successors or ,'~signs described at thc beginning o1' this Tax-Exempt l~inancing Rider, or (c) Borrower omit.~ or misr~resents a fact that is material with respect to the provisions of Section i43 of the Internal Revenue Code in an application for thc loau secured by this Security Instrument. References are to the Internal Revenue Code ~ mnended end in effect on Ihe date of issuance of bonds, the proceeds of which will be used to finance the purchase of the Security Instrument and are deemed u', include the. implementing regulations. ~ BY SIGNING BELOW, Borrower accepts and agrees tO the terrrm and covenants contained in this Tax-Exempt Financing Rider. -Borrow~'r ..... (Seal) -~orrower -Boffower (Seal) ._(Seal) -BOrrower -Bo~ower (Seal) (Seal) -~urrow~r -Bo~owcr ~567U (9705) Paae 2 of 2