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HomeMy WebLinkAbout871855RELEASE Ode This Mori gage SEE BOOK 1 IF MtOPTIACEE Return To: Prepared By: Sharon Walker DEFINITIONS Borrower is the mortgagor under this Security Instrument. (C) "Lender" is Major Mortgage Lender is a A Wyoming Corporation organized and existing under the laws of Wyoming -6(WY) (0005) Page 1 of 15 MW 05/00 VMP MORTGAGE FORMS (800)521 -7291 Jfif�' 811855 [Space Above This Line For Recording Data] MORTGAGE BOOK I:2 PR PAGE 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 usaje of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated February 21, 2001 together with all Riders to this document. (B) "Borrower" is Robert M McKim and Lyniece N McKim, Husband and Wife MCKIM, R. AF 1061282 WYOMING Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 11 1 11 1 1 1 (I o fr. Lender's address is 2020 Carey Ave, Cheyenne, WY 82001 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated February 21, 2001 The Note states that Borrower owes Lender Si xty Thousand and no /100 Dollars (U.S. 60 000. 00 plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than March 1, 2016 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "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. (G) "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]: Adjustable Rate Rider Balloon Rider VA Rider Condominium Rider Planned Unit Development Rider Biweekly Payment Rider Second Home Rider 1 -4 Family Rider Other(s) [specify] (H) "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. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "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 telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "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) misrepresentations of, or omissions as to, the value and /or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "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. (0) "RESPA" means the Real Estate 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 to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. MCKIM, R. AF 1061282 -6(WY) t0005) Page 2 of 15 Form 3051 1/01 ao t" t als: c 200 (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and /or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the County of Lincoln [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] See Schedule C attached hereto and made a part hereof. Parcel ID Number: 12- 32193510033900 which currently has the address of 10964 Highway 238 [Street] Afton [City] Wyoming 83110 [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 COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow 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. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this MCKIM, R. 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AF 1061282 -6(WY) toms) Page 5 of 15 2 93 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 agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay td the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the Initials: Form 3051 1 /01 L0 /L L90E Waoj Z8ZI90I Jd 'd WI)19W 1411M `anp uatl 1ou 1O 1a143atM luauzrulsul ,C11noas sup Aq pain0as stuns am of pajddd aq Hugs spaaooad aoueinSU! 0141 `pauassal aq pinoM Alr1nOas s,.iapua'I 10 alq!SEa3 JCHtO1uIOU0Oa 1ou st ItEda1 10 11011E101Sa101j1 3I •1aM011og 3o uotarigo aios am aq 1i11ts put spaaooad aouzznsui ag1jo 1110 peed aq lou [1.e 'Ts 10MOlzog (q paumEla.' `satlred pzr41 1ag10 zo `szalsnfp11 oiignd zo3 saad spaaooad gans uo durum zo imam! 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Hugs 10MOIJOg •aODUansul ,flaadoad 'S •111101 st4141M 1101100111100 ut zapua1 pasn 00!11108 3utuodaz 1oipug uon11ot x111 0111180 Isar 11 103 amp 011111 -auo u 1Cud 01 JOMOJ1OH aztnbal Amu lapua' uotloas si41 Ut anog114uo3 las 811011011 041 JO wow JO 0110 01E1 JO 11011041'ijSp11S 111114810MO11og `U04 st 0011011 111141140i4M 110 MEP 041 JO shp pi upprm •U011 17 6 ti :sMQ'u 91, ;o g aBed 180001 (AM)9- RO 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 t'�he Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and /or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and /or assessing the value of the Property, and securing and /or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable MCKIM, R. 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Aug zaMOIOg Sd 01 pannba/ aq 3ou !lugs /apua'I pug `ijn3 ut pled AJa3gunlJn st ugo-I am rem 30143 am SutpuglsgltM3ou `ajggpunja/ -uou aq !legs an/asa/ ssOJ !Tons •aoug /nsuj 0 B 1.1014 3o nat! ut an /OSO/ ssol ajggpunJa/ -uou B SR sluaurSd asagl ute3az pug asn `;daoog !um /apua'I •100330 ut aq 01 paseao ag /anoo 001114 /Hsu! am ua4M anp a /aM 1eg1 s ;uauiSd palgatsap Alalgred0s am 30 lunoure aq1 /apua'I 01 Sd 01 anut3uoo jlggs /amo//0g 'alggltgng 1011 st agg /anoo aougznsul a2g2pojni lualenmba /iljgtlug1sgns 31 /apu0'I Cq palo0jas /a /nsut aSapow a1uu/a1Jg ue 1110 4 `130330 ut Aisnotna /d aougznsuj aa1/oyni am JO zaMOZZOg 0; ;Soo am 01 luaign!nba ifupug3sgns 3900 g 114 'pang ui )ilsnotnazd aougmsul a2g2poyq am 01 luarunrnba Ajjsuuglsgns a$g /anoo utslgo 03 pannba/ suznturazd am Sd !lugs J0M0J10 `aougmsul a$gg1ow /03 sun aq; premo; s3uaur igd palsudtsap AJalsredas 0314111 o3 pannba/ sEM zaMOIIOg pug 0311E /nsut gons paranoid ,ijsnOtna /d rem /a /nsut °Sallour am UIO /3 alggjtgng aq o1 sassoo /apua-I pannba/ ag /anoo aouginsul a$gg1OJA am 'uosua/ Aug zo3 `31 •330330 ut a3ugznsuj aut'uoJA aq1 ure;utgul 01 pa /mbo/ sumtuzazd am Sd !lugs /amo//og `ugo'I am 2upretu 3o uotltpuo3 g sg aoug /nsul aMuoyni pannba/ zapua'l 31 •aaueansul agegiJoyq •01 •Sat1!M ut zagzaul alp 01 90012E /apu0'I ssalun loo !lugs ally aa3 am pug plogasual am `ICuado /d aq; 03 0!111 aa3 sa /mbos zaMOJJOg 31 'mat am 3o suotstnozd am HE g2!M ziiduloo !rugs JOMOLIOg 'pIOgasuai u uo s! ;uauII/ ;SUI iflrmoas sm; 31 3uaulid 2utlsanba/ zaMOZZOg o1 zapua1 um/3 aouou uodn Isamu! tons g;r" 'alquSd aq !rugs pug ;uauraszngstp 3o alep am UI0 /3 are/ a;oN am 3s ;swam! nag Jlggs sumo= magi, •3uaumzlsul ii;unoas sou Aq paznoas zaMOZZOg 30 !gap jgu0rljppe auiooaq -!jugs 6 110!1009 sup /apun zapual pas /ngstp slunoure �iud •6 uot3oas stg3 /apun pant /0gmg suotlos JJe /o Aug 2up el 1ou zo3 Alum!! ou &moot /apua'I 3eg1 paaag s! •os op 01 uotlegTJgo JO Amp Aug /apun 3011 Si pug OS op 01 aneg 10U saop /apua'I '6 uopoas sup Iapun 110!3314 qv; Amu /apua'I 142no111V •33o z0 uo pawn; sawn mg pug `suor3rpu0o sn0 /augp /0 suopei to apoo /aglo /0 $u!pltnq aleutunla `sadtd coo /3 /alum !grip 'smoputm pug sloop do preoq /o 0oujda/ 'mot augg3 `medal 0 o3 filmdom am 2utza2ua `01 pallid!! 1ou s! lnq `sapnpu! ,C3 /ado/d 0141 2utmoas Iutpaaoozd Aoldn/ajugq a u! uo!3tsod pamoas 81! 2'utpnlout luaum.lsul A3unoas sup /apun s1141 /o/pug Xuado /d am u! ;swam! sat 100 ;0 /d 03 9003 ,sAau/0 ;;u 2 9 7 (b) Any such agreements will not affect the rights Borrower has if any with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and /or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. MCKIM, R. AF 1061282 -6(WY) (0005) Page 9 of 15 Form 3051 1/01 0 P". 4 ,i 18 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall 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 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 payments 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- signers; Successors and Assigns Bound. Borrower covenants 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 personally 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 18, 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 shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 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 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 Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected 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 Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower 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 any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. MCKIM, R. AF 1061282 ®6(WY) moos) i E Page 10 of 15 Initials:\ v Form 3051 1/01 MCKIM, R. AF 1061282 -6(WY) (0005) co Page 12 of 15 1X55 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 than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will 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 Borrower 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 requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take 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 notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20... 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: 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 defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. Initials Form 3051 1/01 LO /L L9OE WJOd s�eiliu� 9110 11 Geed 8g Jd 'WI)DN ydS 1 I uotlyuuojut 1aglo Ate pm aputu aq pinogs maul/cud gotgm 01 ssaippe am `aaotnaas mo-i maU all Jo ssaappt put atueu am arm puM gOttm a8mgo all JO aailou ua11IM toots aq ii!M IamOliog `saOtnaas u 0-1 alp JO aSuzgo y Si aiag131 •aloN am JO NES a 01 palelazun iaOInlas uUo' am Jo sagmgo a10W Io auo aq 1g8tui osie anca *Mir algyopddy put' `luatutulsui X1un0as step `aloN aql .iapun suopaggo gutotAJas ueoi ageguotu Jaglo stuaoji d put luaum usui AlumOas sup pure a1oN aq1 iapun anp sluauliigd otpouad maim 1em „aaZtnzas utol„ alp sy umoul) Anlua ag1 ut 02ue110 y ut Tulsa' lg8tuu airs y •10M0110g 01 03t10u Loud lnogltm sawn aiotu JO auo Nos aq mo (luatutulsui Aumoas sup gltm iaglagol) aloN aqi ut lsazalut ietlred a so 010N aq,I, 03u13n01a3 JO 03I1ON :10oin10S U1101 JO agutga :310N Jo aI S •0Z •81 uol2Oas aapun u0tle1alaoOe Jo am am ui ,iiddy lot pygs alelsutaa o1 ig8u sup `zanaMog •pa.un000 pm! uotlyaalaOOy ou 3i st annoalla iiiin3 utetuaa NET Agazaq pampas suone8tigo pm luauzn.IIsui Alunoas sup `Iamonog Aq luautalelsuiaz uod11 •Jojsmii, spund otu011oa1g (p) co :i 111ua so Xltly1U UIt 1SU! `,ioua8e leiapaj y Sq painsut are snsodap asotM uotlnitlsut m uodn umeap s1 Amp tons aim paptnold Vag0 s,Jatgse0 10 raw s,.la1nseazl gloat o)lumq 'raw pappiao (o) :Japzo bum (q) :goo (e) :1apual pa1Oalas se `suuo; gutmoiioj am 3o a.I0U1 JO auo ut sasuadxa pm sums luautalmsutaa lions pied Iamofog imp annbal km! zapual •pagueg0un anunuoo hugs `luaumalsui Animas sup Aq pampas sums am Ayd o1 uotlegtigo s,aamo.uog put luauutulsui Animas sap .zapun slggtx put; Auadoid aql ut 1sa'alut s,1opua' imp amsst o1 a.nnbal Algeuono.' kyut Japual se wpm pus saalml (p) pue :luatunalsui Alunoas sup Iapun slggU put filmdom am ut lsaialu s,zapual gujloalo.1d jo asodand ag1 zoj pa.unoui saaj Jaw put `saaj uotltnitn pm uotlOadsut knadoid `saaj ,sAatuolle algeuosuaa `01 panuutl 1ou lnq `8uipniout luaunumui A1tin0as stgl gut0.toJua ut paimout sasuadxa lle spied (0) :sluatuaai8e 10 slueuano0 Jaglo ,Cue Jo 11nypap SUE salvo (q) :pann000 peq uotleiaiao0e ou J! se aloN alp pug luaum.1lsui A1tinoas sup 1apun anp aq mom tag; pup stuns HE zapua-i spied (e) :.Jamo log 1yg1 are suotltpuoo asou •luatun.11su1 Animas sup BunO1ojua luaungpnf a Jo /11ua (o) so :alylsutal 01 1t12!1 mamouog 3o uotleutuual aq1 ioj jtoads ui8nu myri algeopddy se pouad Jatlo !Ions (q) :Iuatunilsul Animas step ui pauieluo0 airs Jo 1amod Cue o1 luensznd Auadold ag1 jo alt's aaojaq &Cup anti (g) :3o manna am 01 loud aumjl iiuu lu panutluoostp luaumtlsui Alim3as sup Jo 1uamaoaoJua aim! 02 1U!1 am angq hugs aamo.uog `suotnpuo0 ureuao slaaUI JOMOJIog JI •tot ;gaalaaay aaljt' a ;u ;sutag o; ;ggrd mamonog •6T •JOMo1Jog uo pueulap so aOtlou 1atun3 lnogltM 1Uatutulsul Animas slip Sq paliiuuad saipatuai Sue a3lonUt Amu Iapua'i `pouad sup Jo uo1lyaidxa at1 01 loud sums asagl iced 01 site3 zaMO.uog 3i •luannumui Agmoas sup iiq pampas sums SI uotlOas 1MM 0ougp.1o00e UI uant8 st aotlou am amp aq1 uiOIJ s1Cep p£ uegl ssal 1ou JO pouad y apino.1d nets aotlou aUZ •uo1lu1aiaoOe JO 00i1011 1amouog AT delis aapua-i `uoildo sup SOS1aI03C0 lapuaJ 3I MwI alquopddy paltgigoad s1 as1Olaxa !Ions Jt .Iapual 'Cq past0iaxa aq mu eggs uoildo sell `aanamog •luaumnsui Ji1tm0as sup pampas sums i1e Jo lln3 ui luaulied alytpatum! a.nnbaa Amu Iapual `Iuasuoo ualltam .zoud s,iapua-1 1nog11M (pauajsugal xo P1os Si zamozzog ut Isamu! lttot auaq t put uosiad leanlyu y 1ou st zaMO.t.Iog 31 so) panaJsm11 Jo plos st filmdozd am UI ma'am' aim zo iilzadozd ag1 Jo ued iiug J0 lle 3I •zasygomd a 01 amp amity a 1e JOMOIJOH 011t1 JO 1aJsuezl alp si 1OtIM Jo maul! alp `luatuaa.zge MOIOSO Jo 10E11UO3 sales 1u0111M1SU `poop 1OJ„Joylluoo `poop .I0J puoq y ut palaJsuezl maim! Igiojauaq as0g1 `01 pa11u111 1ou 1nq `gutpnlout `Auado1d alp ut ma'am! le1opauaq .JO le aim SMUT „,Cuadoid aql ut 1salaIzl„ `8I uopoas sup ut pasn sy •aaM0aa0g ut ;saaa;uI lgialJauag 11 a0 A;aadoad aq; Jo m0u131y •8i •luaulnllsui Alunoas sup Jo pug 010N alp JO Adoo auo tang aq dugs Jamouog -Mop mamoaa0g •LI •uotl0u Aug 03111 01 uotlegtlgo ,Cm lnotp!M uolla1Oslp Nos santg „Sru1„ pioM aq1 (0) pug MS.lan aOtn put: luanid agl apnioul pug matt iiygs reinguis am ut sp1oM (q) :aapua8 aututuIOJ am 3o quoM zo sp.1oM Jalnau gulpuodSO1JOO apnlout pm maul imp 1apua8 au1nOSEUI am Jo spzoM (e) :1uau1n.11su1 AlunOas sup ut pasn sy •uotstnoad gutlotljuoo agl lnogl!M pang uantg aq urn g011M 010N am 10 luatunnsui Iiltmoas sup Jo suolsinoad Jagl0 loaJJE 1ou Ilugs 10ti;uo0 gons algyopddy g1!M sRol1mo0 aloN am Jo IUatuIulsui Jltmoas SN1 Jo asnuio 10 uols1nozd aim 1eg1 Juana am ui •10g.11uo0 Aq luatuaazgg lsurege uot11g1go.1d a se panilsuo0 aq 1ou pugs maps gons lnq `luaus aq 1g2iul 1! Jo Immoo aaigg 01 sound am molly Sl11otjdu11 so Ailiolldxa 1142m1 my7 aigtopddy •Meri algyopddy Jo suoj1e11unl pm sluatuaambal Au 01 10afgns are 1uau11u1su1 Animas sup u1 paute1UOO suoile2ilgo pm slg211 IIV •pale0ol s1 ¢3.1ado .1d am g01gn u1 uoi1Otpst.mf am JO Mel alp pm myl lmapaj Aq patuanog aq ilygs luaunumu1 Altan0as stt,L •uot;ona;suoD 30 saint :A;111gyaanas :Mg-I guivaano9 (9000) (AM19 IIg /Cud Isnul zamouog 11011/M mgMMM f r, 0 ro w r►i U'<.M NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. MCKIM, R. AF 1061282 ®6(WY) (0005) Page 13 of 15 Initials: 300 Form 3051 1/01 LO /L LSOE WO IaMOUOg- (MS) 10M0U0g- (ivaS) 10MOI.IOg- (MS) TOE 9 L )o b L °Bed Z8ZT9OT dV 'WI)19W J MO1log- (IEas) 1aM0II0g- (i s) 1aM01I0g- (ivas) (9000) (AM)9 sassauLIM li uitM papzooal pur 10MOIIOg painoaxa Japt21 Aur ut puu luauxiu suj AipnoaS stuff ut paumiuoo siuzuanoo puE swim aqi of saaiSe puz sidaoou zamofOg `MO"Igg ONINOIS x dw ova: STATE OF WYOMING, The foregoing instrument was acknowledged before me this February 21. 2001 byRobert M McKim and Lyniece N McKim My Commission Expires: r i g Q 9 Sharon Walker County of Lincoln Notary Public I State of Wyoming MCKIM, R. AF 1061282 Initials: -6(WY) 10005) Page 15 of 15 Form 3051 1/01 Lincoln County ss: 302 Y 4. ✓t;�l �.I� ALTA COMMXTMENT 1982 WY SOOT I4EST TITLE CO. Fax:1-307- 877 -9602 SCHEDULE C Feb 7 'G1 17 :34 F. 02/02 303 Commitment No.: FA 7478 M The land referred to in this commitment is situated in the State of Wyoming, County of Lincoln, and is described as follows: That part of the NE;4NE% of Section 35, T32N R119W of the 6th P.M., Lincoln County, Wyoming being part of that tract of record in the Office of the Clerk of Lincoln County in Book 27 of Deeds on page 195 described as follows, it being the intent to redeecribe that tract of land of record in the said Office in Book 146PR on page 619, in accordance with the undated plat of Ivan L. Call, Registered. Land Surveyor No. 274; BEGINNING at a 3/8" x 12" steel spike on the North line of said Section 35, N 89 °49.0' W, the base bearing for this survey, 827.50 feet from the Northeast corner of said Section 35, found as described in the Certified Land Corner Recordation Certificate filed in the said Office; thence S 01 °48.1' W, 30.23 feet to a point on the South right -of- way line of State Highway 238; thence continuing 9 O1 °48.1' W, 233.77 feet to a point; thence N 89 °49.0' W, 165.00 feet to a point; thence N 01 48.1' E, 233.77 feet to a point on said right way line; thence continuing N 01°48.1' E, 30.23 feet to a 3/8" x 12" steel spike on the North line of said Secticn 35; thence S 89 °49.0' E, 165.00 feet to the POINT OF BEGINNING.