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HomeMy WebLinkAbout874915After Recording Retm'n To: CO~ZTY FIRST NATIONAL 200 NORTH CE~ER STREET RO~K SPRINGS, ~ 82902 [Space Above This Line For Recording Data] VININO MORTGAGE PkRCEL NUMBER ~ DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined, in Sections 3, i 1, 13,. 18, 20 and 21. Certain rules regarding the usage of words used in this document m:e also provided in Section 16. (A) "Security Instrmnent" means this document, which is dated JULY 25, 2001 . together with all Riders to ~his document. (B) "BorroweF'is EDWARD h. VINING AND TINA M. VINING, HUSBAND AND WIFE Borrower is the mortgagor under this Security Instn:ment. (C) "Lender' is cOIVllVlUNZTY FIRST NATIONAL BANK Lender is a CORPORATION organized and' existing under the laws of THE UNITED STATE OF AIvlERICA , Lender's address fs 200 NORTH CENTER STREET ROCK SPRINGS, WY 82901 Lender is the mortgagee under this Security In. stnmaent. (D) "Note" means the promissory note signed by Borrower ~md dated JULY 25, 2001 The Note states that Bon'ower owes Lender SIXTY-FIVE THOUSAND TWO IIUNDRED FIFTY AND 00/100 Dollars (U.S. $ 65,250.00 ) plus interest, Borrower has promised to pay this debt in regular Periodic Payments m~d to pay the debt in full not later than AUOUST 2, 2016 (E) ' .'P, roperty" meals the property that is described below under the heading "Transfer of Rights in [he Property." (F) "Loan" means the debt evidenced by the N~te, plus interest, any prepayment charges and late charges due under the Note, and all sums clue under this Security Instrument, plus interest. WYOMING - Single Family - Fannie Mae/Fred die Mae UNIFOIAM INSTRUMIgNT Fonn 3051 1/01 DOCUIWY1 (Page I oil2 pages) DOCU1W¥1 .¥~'1 lI/0l/~0~0 G) "Riders" means all Riders to this Security Instrument that are executed by Bo~q'ower, The following Riders are to be executed by Bon'ower [check box as applicableS: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [] B~loon Rider [] Planned [h~it Development Rider" [] Biweekly Payment Rider [] 1-4 Family Rider [] Other(s) [specifyi (II) "Applicable Lww' means all controlling applicable federal, state and local statutes, regu]ations, ordinances ~d adrninistrative rules and orders (that have the effect of 1 aw) as well as all applicable final, non-appealable judicial opinions. (I) "Com~mmity Association Dues, Fees, and Assessments" means all dues, fees, assessments and other Charges that are imposed on Borrower or the l%operty by a con&~minium association, homeowners association or similar organization (.'I) "Electronic Funds Trmt~fcr" memos m~y transfer of funds, other than a transaction originated by check, draft, or similar paper initrument, which is initiated through mx electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a finmmial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale tremsfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, m~ automated cleari~ghouse transfers. (K) ',Escrow Items" means those iterhs that are described i~ Section 3. (L) '9,{isccllaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages desc?ibed 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) convey~mce in lieu of condemnatim; or (iv) misrepresentations of, or omissions as to, the value mt/or condition of' the Property. (M) "Mortgage Insurance" means insurance t'rotecting Lender against the nmpayment of, Or default on, theLoan. (N)."Periodic Payment" means the regularly schedu',ed amount due for (i) principal and interest under the Note, plus (ii) mxy amounts under Section 3 of' this Security Instrument. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) mid 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 h~an does not qualify as a "feAerally relateA mortgage lomf' under RESPA. (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Bom~wer's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrnment secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perforrnm~ce of Borrower's covenants and agreements under [his Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant m~d convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the COUNTY (Type of Recording Jurisdiction) of LINCOLN : (Na~ne of Recordhig Jurisdiction) SEW, LEOAL ATTACHED. which currently has the ~tdress of 1337 lST WEST AVENUE [Street] KEMIVI~RER ,Wyoming S 3101 ("Prq~erty Address"). [Cityl [Zip Code] WYOMING - SingleFamily - Famfle Ma~Freddie Mac L~IFO~M INSTRUMENT Form 3051 1/01 DOOUIWY2 (Page 2 of J2 pages) TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenaces, m~d fixtures now or hereafter a part of the property. All replacements m~d additions shall also be covered by this Security Instrument. All of 2~e foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Prope~y and that the Property is unencumbered, except for encumbrmtces of record. Bon'ower 'warrants and will defend generally the title to the Prope;~y against all claims and demands, subject to m~y encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with li~ted vm'iations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. B0xower m~d Lender covenant axd agree as follows: 1. Payment of Principal, Inter,t, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when ¢~e, 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 Iten~ pursuant to Section 3. Payments due under the Note and riss Sea~rity Instrument shall be made in U,Sa~rrency. However, if any check or other instrument received by Lender as paylmnt under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or ail sO,sequent payments due under the Note ~d this Security Instrument be made in. one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) cra'tiffed check, bm~k check, treasurer's check or cashier's check, provided m~y such ch~ck is drawn upon an institution whose deposits ~e insured by a federal agm~cy, instrumentality, or entity; or (d) Electronic ~nds Trm~sfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in S'ection 15. Lender may return any payment or partial payment if the payment or partial pay~nts are insufficient to Bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of m~y rights hereunder or prejudice to its rights to refuse such paynmnt or partial payments in the ~ture, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unappliedfunds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Bo~ower. If not applied e~lier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No cFI'set or claim which Borrower might have now or in the future against Lender shall relieve Bo~Tower fi'om making payments due under the Note and this Security Instrument or performing the covenants ~d agreements secured by rids Security Instrument. 2, Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted m~d applied by Lender shall be applied in the following order of priori ty: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became dfie. Any remaining amounts shall be applied first to late charges, second to any other ammmts due under this Security Instrument, and ~hen to reduce the principal balance of the Note. If Lender receives a payment fkom Bo~u'ower ft>r a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent pay~nt and the late charge. If more than one periodic Payment is outstanding, Lender tarry apply any payment received fi:om Boxower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to m~y late cha'ges due. Voluntary prepayments shall beatoplied first to a~y prepa'yment charges and then ~ described in the Note. Any application of payments~ insuraxce proceeds, or Miscellaneous Proceeds to principal due under the . Note shall not extend or postpone the due date, or chm~ge the am~unt, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until [he Note is paid in full, a sum (the "hinds") to provide for payment of amounts due for: (a) taxes assessments and other items which can attain priority over this Security Instrument as a lien or encumbrtmce on the Property; (b) leasehold payments or ground rents GU the Property, if axy; (c) premiums for any and ali insur,mce WYOMING - ShIgle Family - Fmmie Mae&'reddie Mac L~NIFORM INSTRUMENT Form 30gl 1/01 BoculwY3 iPage 3 cfi2 Rages) required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of tile payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, m~d Assessments, if any, be escrowed by Bo~Tower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all aotices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Bon-ower's obligation to pay to Lender Funds for any or att Escrow Items at any time. Any such waiver may only be in writing. In tim event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed lobe 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 mid pay such amount and Borrower shall then be obligated under Section 9 to repay io 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 mnounts, that are then required under this Section 3, Lender may, at any time, collect and hold Funds in al amount (a) su£ficie~t to permit Lender to apply the Funds at the time specified under RESPA, a~d (b) not to exceed the maximum amount a lender Can require under RESPA. Lender shatl estimate the an:tount of Funds due on the basis of current data and reasonahle estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The FSmds 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 Iten~s no later than the time specified ,~nder RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually mmlyzing the escrow accotmt, 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 agreemen[is made itl 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 Fnnds. 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 Bon'ower 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 Bon'ower 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 thm~ 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 Bo~u:ower shall pay to Lender the amount necessm3, 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 b'y this Security Irtstrument, Lender shall promptly ref~md to Borrower any Fnnds held by Lm~der. 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, Bon'ower 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 Lende. r, but only so long as Bon'ower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcem=nt of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforc'ement of the lien while tt~ose proceedings are pending, but onIy until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within I0 days of the date on which WYOMING - Single Family - Fam~ie Ma eJFreddie Mae L'NIFORM INSTR'UMEN I' Form 3051 1/01 DocuiwY4 (Page 4 ~j' 12 pages) that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time Charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by I'ire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including dedt:ctible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The ins're'ghee carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for floo~i zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent chages each time remappings or similar changes ocgur which reasonably might affect such determination or certification. Bon'ower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from at objection by Borrower. If Borrower fails to maintain anyof the coverages described above, Lender may obtain ins~rance coverage, at Lender's option and Borrower's expense. Lenderis under no obligation to purchase any particular type or amount Of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's ' equity in the Property, or the contents of' the Property, against any risk, hazard or liability and might l:rovide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so Obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 st:all become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at tt:e Note rate £rom the di~te of disburseme~it and shall be payable, with such interest, upon notice from Lender lc) Borrower requesting payment. All insurmtce policies required by Lender and renewals of such policies slmI1 be subject to Lender's right to disapprove such policies, shall include a standard mortgagmlause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies atd renewal certificates, If Lender requires, Borrower shall promptly gl'ye to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise reqi;ired by Lender, for dmnage to, or destnmtion of, the Property, such policy shall include a standard n:ortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, Lender may make proof of loss if not made promptly by Borrower, Unless Lender m~d Borrower otherwise agree in writing, any insurance proceeds, whether or not the nnderlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. iDuring such repair and restoration period, Lender shall have the right to hdld such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly, Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law re¢~ires interest to be paid on such insurm:ce proceeds, Lender shall not be required to pay Borrower any interest or earnings on suc~-~ proceeds. Fees for public adjusters, or other third pa'ties, retained by Borrower shall not be paid out of tlte insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insttrm:ce proceeds shall be applied in the order provided for in Section 2. , If Borrower abm:dons the Property, Lender may file, negotiate and settle any available insurance claim anti related matters. If Borrower does not respond within 30 days to a notice fi'om 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 Secti(~n 22 or otherwise, Borrower hereby assigns to Lm~.der (a) Borrower's rights to any insurance proceeds in an mnount n~t to exceed tt',e amounts unpaid under the Note or this Security Instrur,~en,~, and (t~) any other of Borrower's rights (other thmlhe right to any refund of unearned premit~ms paid by Bon*ower) '~mder all insurance policies covering the Property, insofm; as such rights WYOMING - Single Family -Fmmie Mae/Freddie Mae *[~IFORM INSTRI3MENT Fona 30~1 1/01 DOCU~WY5 {Page 5 c~j' 12 pagex) m'e applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore tile Property or to pay mnounts unpaid under tile Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall'occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall contin'c~e to occupy the Property as Borrower's principal residence for at leasi 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 wldch 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 Prope~ty iu order to prevent the Property f¥om 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 th'operty 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 suci~ purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as tile work is completed. If the insurance or condemnation proceeds are not sul't'icient 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 tile 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 asB orrower~ ' s principal' ' residence. 9, Protection of Lender's interest in the Property and I/,ights 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 h~strun~ent or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do an d 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 cai include, hut 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 reaonable attorneys' fees to protect its interest in the Property and/orrights under tths Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering tile Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, m:~d have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or ail actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Bo,'rower secured by this Security Instrument. T!~ese amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, 'up0u notice from Lender to Borrower requesting payment If this Security Instrument is on a leasehold, Borrower shall comply with ail the provisioas of the lease. If Borroyver acquires fee title to the Property, the leasehold anti the fee title shall not merge unless Lender agrees to the me,rger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurtmce as a condition of making the Loan, Borrower shall pay the premiums required to maintain the IMortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available fi'om tile mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Bon'ower stlall pay ,Lc premiums required to obtain coverage substatltially equivalent to WYOMING - Single Family - Fmmfe Mae/Freddie Mae UNIFORM INS rRUMENT Form 3051 1/01 DOCUiWY6 /l~age 6of J2 ?ages) the Mortgage Insurance previously in effect, at a cost substm~tially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect, Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, m~d Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by mx insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiulns for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premit~ms required to maintain Mortgage Insurance in eft'ecl, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurzuxce ends in accordance with any written agreement between Borrower and Lender providing for such termination or mxtil termination is required by Applicable Law. ,Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or m~y entity ttxat purchases the Note) for certain losses it may inrmr if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurm~ce. Mortgage insurers evaluate their total risk on ail such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to.the mortgage insurer m~d the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreema~ts, Lender, m~y purchaser of the Note, another insurer, an'y reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) ambunts that derive from (or might be characterized as) a portion of Borrower' s payments for Mortgage Insurance, in exchange fosharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affil'iate of Lm~der takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrm~gement is often termed "captive reinsurance." I"5~rther: Ca) Any such agreements will not affect the a~nounts that Borrower has agreed to pay t'or Mortgage Insurance, or any other terms of the Loan, Such agreements will not increase the amount Borrower will owe for Mortgage Insurance~ and they will not entitle Borrower to any rebind. Cb) Any such agreements will not at'feet 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 ohtain cancellation of the Mortgage Insurance~ to have the Mortgage lnsm-ance ter~ninated automatically, and/or to receive a retired of any Mortgage Insm'ance premimns that were unearned at the time ct' such cancellation or termination, 11. Assignment of Miscellaneous Proceeds; Forfeitnre. All Miscellm~eous Proceeds are hereby assigned to and shall be paid to Lender. It' the Property is damaged, such Miscellaneous Proceeds shall be applied t~o 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, Lm~der shall have the right to hold such Miscell~meous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work txas been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may t~ay 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 Miscellra~eo'~s Proceeds, Lender shall not be required to pay Borro~3,er any interest or earnings on such Miscellaneous Proceecls If the restoration or repair is not econonfically feasible or Lender's.security would be lessened, the Miscell~u~eous Proceeds st~a!l 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 v~ue of the Property, tSe Miscellaneous Proceeds shall be applied to the sums secured by this Security Instr~an~ent, whether or not then due, with the excess, if any, paid to Borrower. WYOMING - Single Family -Fmmie ~[ae/Freddie Mac UNIFORM INS TR-UMENT Form ~051 1/01 Docutwy7 (Page 7 oj'12 b, ages) In the event of a partial taking, destruction, or loss in value of the Property ii1 which the fair market value of tile Prope~Xy immediately before the partial taking, destruction, or loss in value is equal to or greater than the ammmt 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 Securitylnstrument shall be reduced by the amount of the Miscellamous Proceeds multiplied by the followmg fi'action: (a) the total amount of the sunxq secured immediately before the p~tial taking, destruction, or loss m value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any t;alance shaI1 be paid to B OlT0wer. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the p~tial taking, destruction, or loss in value is less thm~ 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 Miscellmmous 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 W~ ;thin 30 days after the date the notice is give,a, 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 Instrmnent, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the p~ty 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 crin'dnal, is begun that, in Lender's judgment, could reshlt iu 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 imp airmen t of Lender's interest in the Property or rights under this Security Instrmnent. The proceeds of any award or claim',for damages that are attributahle 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. 12. Borrower Not Released; Forl)earance 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 conm~ence proceedings against any Successor in Interest of Bon'ower or to refuse to exta~d 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 b'y Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of BoiTower 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 wha co-signs this Security Instrumentbut 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 su~s secured by this Security Instrument; and (c) agrees that Lender and any other Bon'ower can agree to extend, modify, forbear or make any acconunodatious with regard to the terms of this Security Instn~n~ent 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 liabilit,y under this Security Instrume~t 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 defauIt, for the purpose of protecting Lender's interest in the Property ,'md rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection ;md valuation fees. In regard to any WYOMING - Single Family - Fannie Mae/Freddie Mae L,WII?ORM INSTRUMENT Form 3051 1/01 l)OCUlW'~'~ (~' age 8 q[' ] 2 pages) other fees, the absence of express authority in this Security h~str~ment to c,Sarge a specific fee to Borrower shall not 'be construed as a prohibition on the charging of such fee, Lender may no', charge fees that ~re expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximumloan charges, and that law is finally interpreted so that the interest or other Iom~ charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reducec~y the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded pern~itted limits will be refunded to Bo.rrower, 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 payInent to Borrower wili constitute a waiver of m~y 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 mfdled by first class mail or ~vhen actually delivered to Borrower's notice address ifsent 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 [he 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 Bon-ower shall only report a change of address through that specified procedure. There may be only one designated notice address trader 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 tdmve beer~ given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required undm' Applicable Law, the Applicable Law requirement will satisfy the corresponding reqnirement under this Security Instrument." 16. Governing Lawi Severabilityl Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Properly is located. All rights and obligations contained in this Security Instrument are s~bject to any requirements and limitations of Applicable Law. Applicable Law n~ght explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conl~licts with Applicable Law, such conflict shall not ~Lffect other provisions of' this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of tile masculine gender shall mean and include corresponding nm~ter words or words of the feminine gender; (b) words ii~ tl~e singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take ~my action, 17. Borrower's Copy, Borrower stmlI 'be given one copy of the Note and of this Security Instrument, 18. Transfer of fl~e Property or a Beneficial Interest in Borrower, As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which, is the transfer of title by Borrower at a future date to a p'~Irchaser. If all or any part of the Property or any Interest in thePrope~,ty is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all st:ms secured by this Sec,.~rity Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Xpplicable Law. If Lender exercises this option, Lender shaI1 give Borrower notice of acceleration. The notice shaI1 provide a period of not less than 30 days from the date the notice is given in accordm~ce with Section 15 within which Borro,~ver must pay all sums secured by this Security h~strument. If Bon'ower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or de:mined on Borrower. 19. Borrower's Right to Reinstate A tier A eceleratlon, If Borrower meets certai~ conditions, Borrower shall have the right to have enforcement of this Security Instr'~nent discontinued at any time [~rior to the earliest of WYOMING - Single Family - l~nmde MaeJFredltie blac 'UNIFORM INSTRUMENT Form 3051 1/01 DOt~U~WY9 (t~age 9 of 12 tinges) (a) five days before s'ale of the Property pursuant to any power of sale contained ii1 this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions ~e that BoITower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obIigatJon to pay the sun-~ secured by this Security Instrument, shall continue unchanged. Lender may require that BOlTOWer pay s'~ch reinstatement sums and expenses in one or more of tile following forms, as selected by Lender: (a) cash; (b) moa%, order; (c) certified check, bank check, treasurer's check br cashier's check, provided any such check is drawn upon an institution ~vhose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic t~mds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective asif no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale o~ Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loea~ Servicer") that collects Periodic Payments due under the Note and this Security Instrmuent and performs other mortgage loan }ervicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, BorroWer will be given written notice of tile change which will state the name and address of the new Loan Servicer, the address to which paymentahould be made and any other information RESPA requires in connection with a notice of transfer of servicing. 'ff 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 m~d are not assumed by the Note purchaser tulless 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 aIleges 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 cma be taken, that time period will be deemed to be reasonable for pui-pc~ses 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 st~bstances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law m~rlhe following substances: gasoline, kerosene, other flm~mmble 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, sdety 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 Haza'dous Substances, or threaten to release any Hazardous Substances, on or in theProperty, Borrower shall not do, nor allow anyone~ else to do, miything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Enviromnental Condition~ or (c) which, due to tile 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 qmmtities of Hazardous Substances that m'e generally WYOMING - Single Family - Fam~ie Mae/Freddie Mae IJNIFORS[ INSTRUMENT Fonu 3051 1/01 DoculwYi0 ('Page 10 of J2 page,r) recognized to be appropriate to normal residential uses and to maintenance of the Prope~y (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 i~lvolving the Property and any Hazadous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, an],, spilling, leaking, disctmrge, release or threat of release of m~y 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 Propmiy is necessary, Borrower shall promptly take all necessa'y remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup~ NON-UNIFORM COVENANTS. Borrower a~d Lender further covenant and agree as follows: 22. AcceleFation; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach~of any covenant or agreement in this Security Instrument (trot 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 euredl and (d) that failure to cure the default on or before the date specified in the notice may ra, mlt 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 fl~ll of all sums secured by this Security Instrument without hn'ther demand and may invoke the power of saIe 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 o£ intent to foreclose to Borrower 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 sohl in the manner prescribed by Applicable Law. Lender or its designee ~nay 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 lhnited to, reasonable attorneys' fees; (b) to all sunm ~ecured by tiffs 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 Securi[y Instrument, Lender shall release this Security Instrument. Borrower shall pay m~y recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if [he 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. WYOMING - Single Family -Fannie MatqFred/tie Mac UNII~ O1,LM INSTRUMENT Form 3051 1/01 DOCUIWYII (Page ]2 o/J2 t~ages) BOC~I~.V~I 11[06/1000 BY SIGNING BELOW, Borrower accepts and agrees to the temxs and covenants contained in this Security Instrument and in m~y Rider executed by Bon'ower and recorded with it. __(Seal) Bon'ower (Seal) B o n'o w el' .~:"..,, ; .:~ i '"/ ' J Bm~ower TINA M. VININ~ } Borrower __ (Seal) .... (Seal) B on'ow er Borrower [Space Below This Line For Acknowledgment] STATE OF WYominG COUNTY OF LINCOLN The foregoing instrument was acknowledged before me by EDW~M~D L. VINING ,/~ND TINA M, VININO, HUSBAND AND WIFE this 25TH dayof ~ULY, 2001 ' Witness my hand and official seal, My Conm~ission Expires:~//~/(~'P3_ 8'TACY A. WEa~4ER i~ Notary Public State of Wyom'r 9 ?;; ~ County af Lincoln }~, My Commission ExCres 11/16/20(a ~"~ WYOMING- - Single Family - Fmmie Ma JFreddle Mae L~WIFORM INSTRUMENT Form 3051 1/01 DOCUlW¥i2 (Page 12 of 12 pages) Parts of Lots 1 and 2 of Block 3 of the Fairview Addition to the Town of Kemmerer, County of Lincoln, State of Wyoming, more particularly described as follows: ' Beginning at the Northeast corner of Block 3 of the Fairview Addition to the Town of Kemmerer; thence West along the North line of said Lot 1, 80.00 feet; thence South Parallel to the East line of said Lots 1 and 2, 80.00 feet to a Point on the South line of said Lot 2; thence East along said South line of said Lot 2, 80.00 feet to the Southeast Corner of said Lot 2; thence North along the East line of said Lots 1 and~2, 80.00 feet to the point of beginning. ~