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HomeMy WebLinkAbout877832DF. FIN FI~ION~ (A) "St'.cmily Inslrmmml" mciH~s Ihi:; d.cun~c~ll, which i:; dalcd DECE~BE~ 3, 200~ (B) "n.rrttwer' is ' CAMERON ROBERTS, A SINGLE MAN Tim N(~l~$s~al=s Ihal l]lll'rov/t:rliwu~i I,t;IlIlCI' FORTY TWO TliOUSAND SEVEN IILINDRED FI I-TY AND NO /100 DOLLARS (U.,~, $ 42~750,00 )pins inlCmSl. Paynmnrs andio p,ay lhcdcbl i~ full nt~l lalc~ dian dANUARY 1~ 2032 [~l:pperly," lra~st'cL's, (?) "Successor in Interest of IIm'r~nver" means any party Ihal has lakm~ lille lo Ihe praperly, whalher or not that party has assmned l~Ol']'QWal"~ obligations under the Nale and/or this Security Instrun'mnt. TRANSFER OF RIGHTS IN TI~E PROPERTY This Security 'Instrument secures to I.antler: (i) the repaymenl (~1' the I.oan, and all renewals, extensions and modifications of file Note; and (ii).the performance, of Borrower's covenants and agreements tmcler Ibis Security Instrume~t and the Note. For this pm'pose, Barrawer claes hereby mortgage, grant and convey to Lender and Lender"s successors nnd assigns, with power of sale, tim following described property located inthe COUNTY of LINCOLN : FPype of Recording Jurisdictitm[ [Name of RCcolding ]urisdictimq PER -lite ATTACt:tED EXttlBIT "A" INCORPORATFD IIFREIN BY THIS REFERENCE. Parcel ID Number: 1224190531:~098 which currcmly has lhc akh'css 205 PARK STRRET COKEVILI_E ICityl , Wyoming 83114 IZip CProl)erty Ad(h'ess"): '" TOGETIIER WIT}I all the improvements now or hereafter erected 0n ll~c property, and all easements, appurlenances, and fixttlres now or hereafter a part of the l)mperty. Ail replacements and additions shall also be covered by this Secmity hasirumenl. All of the Foregoing is referred lo in this Security Instnm~ent as the "Property." BORROWER COVENANTS that Bon'ower is tawfidly scisecl of the estate hereby cm~vcyed and has the right to mortgage, grant and convey fha Property and d~at the Property is. mmncmnbcrcd, exccpl for encumbrances of record. Borrower warrants and will defend gm:icrally thc lille ii} Ibc Property againsl all claims ami.demands, stlbjecI [o any encumbrances of record. THIS SECURITY !NSTRUMIENT cambines uniform covenants for ilaliollal list alld llOllqlllifOl'll/ covenaols with limited variatians by jmisdiction lo constitute a uniform secm-ily insirtm~ent covering real prol{erry. UNIFORM COVENANTS. Borrower and Lender cov'enant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, nnd lmle Charges. Borrower shall pay when due lhe principal of, and interest on, the debt evidenced by the Note and any prepayment charges and lala charges due under [he No~e. Borrower shall also pay tNmds for Escrow llams pm'snant lo Section 3. Payments due under the Nole and this Secm-ily lnstrnment shall be made in U.S. currency, However, i'F any check or other instrument received by Lender as payment under thc Nole or this ~fi{WY) 100051 I%~u 3 at l[ ~ Form 3051 1/01 Security Instrument is relm'ned lo Lender mq~aicl, l,emler may require lhat any or all subseqtmnl pay~e~lls selected by Lender: (a) cash; (b) money order; (c) certified check, I)~lllk check, treasm-er's check cashier's, check provided a}~y snch check is th'awn tqmn an institt~iion whose deposits arc insured by a federal .agency, instrumentality, or enlity; or (d) Eleclronic Ftn~ds Transfer. Payments are deemed received by Lender when received al lhe locatiaa designated i,l the Note or at such other location as may be designated by Lender in accordaace wilh Ihe notice pravis{ons in Section 15. Lender may returq any payment or partial paymenl if the payment or partial payments are i~!snfl"icient bring the Loan cunJcnt. Lender m~ty accept any payment or parlial paylllenl insufficient t(~ bring the Loan ctlrrent, wilhaut waiver o1: any rights heamnder or prejndice lo its rights to tel:usc shah pi~yment m' partial payn-lents in tile fillm'e, but Leader is nol obligated lo apply such payments iii the lime snch ])aylr}c~ll8 lire accepted. If each Periodic Pi~yment is i~pplied as of its scheduled dt~e d~lte, titan Lender need not pay might have now or in the ftm~re {tea{asr t..c~lder shall relieve Ikn-rowar from making paymenls due m~der Ilia Note and this Secm'iiy h-}strt~ment or perl:orming the coveaarl~s and agreemenls seem'ed by Ibis 'Instrument. 2. Applicalicm ~f' Paymen/s m' ik'm:eeds. Exccl~t as r~lherwise tlescribml in ~his Scctim~ 2, all payments accepted and apl)lied by l..ender shidl be nl~l)lictl ia the roi}owing oi'dcr of priorily' shall be applied lo each Periodic l~ayment in thc order in which it became chin. /klly remai~fing If Lender receives a payment fi-om Bm'rower l:or a delinquent Pcrir)dic Paymctit which inclmles a fram Borrower to the repayment of the Periodic l)aymenls il:, ami to Ihe exlent thai, cinch payment can paid in filll. Tr) 'lhe extent that any excess ex{sis al:lar the payment is applied m,th~',.k 1)aymcnl of more Periodic Payments, such excess may be applied to any late ~hargcs due. V~lui~iary larCl>ayments shall be i!ppliqd 'firSt lo {my prepayment charges il/Id then as described in Ihe Note. Any application of payments, insurance proceeds, o:' Miscelhmeous Proceeds Ir) l'n-incipal title the Note~ shall not extend or postpone the due date, m. change the amomlt, al: lhe l~criodic Payments. 3. Fm~ds I'm' Lscrm.v. llc~ ~s Borrower shall pay to Lender on the day Periodic Paymenl~ arc under [he Note, tmtil the Note is paid in {kill, a sum (Iht "Ftmds") to provide for payo~ent of an'murals due for: (a) taxes and assessments and other itmns which can aiiaill priority ~)x, er lifts SeCm'ily h'~slnmmnt litm 0r encumbrance on the Property; (b) leasehold payments or grotmd rents on. ll'm Property, l)remitmas for arty and all insurance i'eqttircd by Lender m~dcr Scclion 5; and (d) Marigllgc Insnrance premiums, if any, ar any stuns payed)lc by Borrower to Lender in lieu of thc l)aymet~l ot: Associatirm. Dtms, Fees, alld Assessmenls, il' any, be escrowed by Borrower, and sllch titles, fees ami assessments shall be an Escrow 'liel~l. Borrower shall promplly filnlish Io l~emlcr all notices of an/otmls to be paid under this Seclion: Bon'ower shall pay Lender {he Funds for l~scrow hems melees l~cnder waives Borrower's obi{gal{on to pay lhe Ftmds l:or any m' all Escrow Items. Lender may waive t,[)ligation to pay to Lender Ftmds for any or all Escrow {terns at any time. Any stlch waiver may only be in writing. In lhe event of sllch waiver, Bm'rower shall pay al{racily, when and where p;~yal~lc, the ~6{WY) ~06B5) Piffle 4 al lfi Fo~I'~) 3051 1101 o o due for any Escrow Items for whic;h paymenl of Funds has been waived by Lender and, ii l_,ender requires,' shall Nn'nish to Lender receiNs eviddncing such payment within such time period its Lendm- may require, Borrower's obligation to make such payments and Io provide receipls shall for all lmrlmSes be deemed ~o be a covenant and agreement contained in this Security lnstrtm~ent, as the phrase "covenant and agreement" is used in Sectien 9. If Borrower is ohligaled 1o pay Escrow Items directly, pursuant to a waiver, and Borrower fairs to pay the an'mttnt due for an Escrow Item, Lender may exercise i~s rights trader Seclit'm 9 and pay sucl~ amount and Borrower. shnli limn be obligated trader Section 9 to repay to l~cnder any such amotlnt. Lender ~llay, revoke the waiver as to any or all Escrow hems at any lime by a nolice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to) Lender' all Ftmds, and in such amounts, thai are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amaunt (a) sufficient to permil Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed lhe maximum arno/mt a lender can reqnire under RESPA. ~e ~c e- shall eslimm'e the ammmt of Funds due on the basis ef mn-rent dale and reasonable estimates of expenditures ()1' fulm'e Escrow llems or (~therwisc in accordance wilh Al)l)licahle Law, The Ftmds shall be held in an inslitmion whose dep(~sils are insm'ed by a federal agency, instrmnentality, or entity (inch~ding Lender, if l.endm-is an institution whose deposits are so insured) m' in ".'- ...... any Federal Home Loan Bank. Lender shall apply lhe Funds to pay Ihe Escrow I~ems no laler than lhe time specified under RESPA. Lender shall not charge Borrower for holding and applying ~he Funds, annually analyzing the escrow account, or refilling lhe Escrow Items, unless Lender pnys Borrower interest on the Funds and Applicable Law permils I~ender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest 1o be paid on the Fmids, Lender shall not be required to pay Borrower any interest or earnings on the Ftmds. Borrower and Lender can agree in writing, however, lhat interest shall be paid oil lhe Ftmds. Lender shall give to Borrower, without charge, mi annual accouniit~g of thc Pmlds as required by RESPA. If t!~ere is a surph~s of Funds held in osm-ow, as defined under RESPA, Lender shall account to Borrower: . , for, the excess fmids in accorthmce wilh RESPA. If there is a short,,ge of Ftmds held in escrow, as r}e~'in~d under RESPA, Lender shall nolle Borrower as required by RESPA~ and Bon-r~wer shall pay 1o Lender the a~l'muat necessary to make ~[1~ the shortage in accordance with I}ESPA, but in no mm'e limn 12 monthly payments. Il' there is a deficiency of Funds hekl in escrow, as defined undm' RESI>A, Lender shall not~ Borrower as required by RESPA, and Bo 'rower shall pay to Lender the an)mint necessary to make Up the deficiency in accordance wi{h RESPA, but in no more than 12 monthly, payments. Upon payment in fltll of all sums secured by this Security Instrmnent, Lender shall proml)tly refund to Borrower any Ftlnds held by Lender. 4. Charges; Liens. Borrower shall pay all rexes, assessments, charges, fines, alld impositions attributable to the Properly which cnn atlain prir)rity over Ibis Security Insfrun~ent, leasehold payments or ground rents on !l~e Properly, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent Ihat these items are Escrow Ilcms, B(~rrower shall pay them in the manner provided in Section 3. Borrower shall proml>tly discharge any lien which has priorily {~vcr lhis S.ccm-ily Instrument unless Borrower: (a) agrees in writing to the p%,ment of the obligation secured by tlae lien in a man,~er accq~tahle to Lender, ln~t only so tong as Borrower is performing such agreement; (b) contests Ihe lien in geed faith by, or defends against enforcement of thc lien in, bgaJ proceedings which in Lender's {~lfinion operate to prevent the enforcen'mnt of tho lion while those proceedings are pending, but only unlil snc:h proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory lo Lender subordinating the lien to Il'tis Seenrity Instrument. If Lender determines that any part of the Properly is st~bject lo a lien which can atlain priority Over lhii Secm'ity Instrument, Lender may give Borrower a notice identifying die ' ' ! !"> ?:i lier~. Within lO days oF lhe date on which th;tt m~iice is given, Bm-rower shall s;tlis[:), the lion or lake one or more of the actioos set l:orth abova in this Section 4. Lender may require Borrower to pay a onedime charge for a real es[a~e tax verification and/tlr repo'rting service used by Lender in connection with this I~oan. 5. Property lnsm'ance. Borrower shall keep the improvements now existing o:' herea[t'er erecte(l on the Property insured against loss by Fire, haz. ards inch~ded withih the term "extended cover~xge," and any ' other hazards including, but not limited to, earthquakes and floods, fc~r which Lender requ.ires insm'ance. This insurance shpll be m~tintained in the amounts (including deductible levels) and l:m' tl~¢ periods ii, at Lender requires. ~ha[ Lender requires pm-st~ani to the preceding sentences san change duri~g tho the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to right to disapprove Borrower's choice, whidt right shall not be exercised unreasonably, l.emier may req~dre Borrower ta pay, in connection with tlfis Loan, either: (a) a one-time charge I:or I]rmd zone determination,' certificalion and trackiag services; or (b) a rme time charge l:or l~ood zone determination and certification services and subsequent charges each lime rcmappiugs m' similar changes m;ctu' which reasonably might affect snch determination or certil:icaticm. Borrower shall also be resprmsible for the ' payment of any fees imposed by the Federal Emergency Management Agency in connection wid~ the .... review of any flood zone determination resulling from an objection by Borrower. :' ...... If Borrower fails to maintain any o1: the coverages described above, l.ender may oblaJrt insurance : coveragg, g~ Lender's optjm~ and Borrower'~ expense. Lender is under no obligatitm to pnrchase any [ particCllar type or ammmt of coverage. Therefore, such coverage shall cover l~emler, but might or might i not protect Borrower, Borrower's equity in the P(operty, or the contents of the Property, against any risk, ~ hazard 0r liability and might provide greater or lesser coverage than was previously in effect. Borrower acknQwledges that the cost of the insurance coverage so obtained might sigrdficantly exceed the cost insurance ti'mt Borrower could have obtained. Any amounts disbursed by Lender trader ll~is Section 5 shall become additional debt 0f Borrower secured by this Security lnstrmnent. These amom~ts shall bear ioterest at the Note rate from tl~e date ot:-disbursement and shall be payable, with such interest, tlpon notice from Lender to Borrower reqkmsting paymeo{. All insurance policies required by Lender and renewals of such policies shall be subject to l.cnder's right ~to clisapprove such policies, shall inchtde a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee, l.ender shall have the right to hokt.'the policies and renewal certificates. I[ Lender requires, Borrower shall promptly give to l.ender all receq, ls o1: paid premimns and renewal notices. Ii: Borrower obtains any fornt o[ hlstlrfillCe'cOVCl'age, BOt otherwise required by loc damage to, or destraction oi:, the 'Property, such policy shall include a standard mortgage clause and shall name l_ender as morlgagee and/or as an additional loss payee. In the event of losst Borrower shall give prompt notice to the insurance carrier and l~ender. Lender may make proof of'loss il: not made promptly by Borrower. Unless Lender and Borrower otherwise agree · in writing, any insm-ance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair o1: the Property, if the restoration or repair is economically l:easible and Lender's security is not lessened. During such repair and restoration period, Dender shall have the right hold such insm'ance proceeds until Lender has had an oi)portunity to inspect such Property to ensure the .work has been completed lo Lender's satist'action, provided that such inspection shall be m]dei'{aken promptly. Lender may disbtu'sc proceeds loc lhe repairs amt rcs[oralJO~l iB a single l)aylllcltl or hi a series o[ progress payments as the work is completed. Unless an agreement is made in wriling or Applicable l.aw requires interest to be l)ixid Oll SI. ICI1 il'lStll'3IlCC proceeds, Lender shall not be requirc(I to pay Borrower itI/y interest or earnings on such proceeds. Fces for ptlblic ad.juslcrs, ox' other third p;u'ties, retained by Borrower shall not lm paid out o(: the insurance pl'OC:ccds and shall lm the sola obligation c~l' l'lorrowcL'. ~6(WY) 1500S~ ' Puge6 o/ ~S - Form 3051 1101 the excess, il' any, paid to Borrower. Suc:h insurance proceeds shall ba applied in tim order proVkled fi.n' in Section 2. If Borrower abandons tim Property, Lemler may file, negotiate and seltle any available insurance claim and related matters. If Borrower does not respond widfin 30 days to a notice from Lender .that the insurance carrier has offered to settle a claim, then Lender may negotiate anti settle lhe chfim. The 30-day period will begin when thc notice is given. In either cvent, or il' l_ender acquires the Pr(~perty nnder Section 22 or olherwise, Borrower hereby assigns to l.ellder (a) Borrower's rights lo any insm'ance proceeds in an an)ount not to exceed the amounts tmpaid under the Note or lifts Secm'ity lnslrm'nenl, and . (b) any other of B'orrower's rights (¢)ther than the right to any relSmd of .unearned prefifinms paid by Borrower) under al! insurance policies covering the Properly, insofar as such rights are applicable to coverago of the Properly. 1..ender may use the insurance proceeds either Ia repair or restore II~c Property or tO pay amounts unpaid under the Note or this Security Insmtmen[, whether or nm dmn due. 60gcuimncy. Borrower shall occupy, establish, and use the Property as Borrower's i)rincil~al residence witllin 60 days after lhe execution of fi'tis Security Instrmnent and shall conlinue lo occupy tim Property as Borrower's principal residence for at least one year aher ll~e dale of occupancy, tmle~s l.ender olherwise agrees in wriling, which consent shall not be.unreasonably wilhheld, or unless e~lenuating circumstances exisl which are beyond Borrower's control. 7. Preservation, Mainlenance and Pr~lection of the Property; !nspeciions. ]~orrower shall not destroy, damage or impah- the Property, allow the Property I'o deteriorate or commit waste m~ the Property. Whed~er or not Borrower is residing in tim Property, Borrower shall mainlain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant lo Section 5 that.repair or restoration is not econmnically feasible, Borrower shall promptly repair the Property if damaged [o avoid lSu-lher deterioration or damage. II' insurance or condenmation proceeds are paid in cmmection wifl~ damage to, or the taking el', the Properly, Borrower shall be responsible for repairing or restoring the Property only il' Lender has released proceeds ~'or stroh purposes. Lender may disburse proceeds I'm- the repairs and restoration in a single payment or in a series progress paymen(s as tl~e wink is cnmpleled. If the insurance or condmnoatian proceeds are nol sufficient lo repair or restore the PrOlmrty, Borrower is not relieved of Borrower's obligalio~t for the completion of s~lch repair or restoration. Lender or its agent may make reasonable entries upon and inspections o~' the Property. If it has reasonable cause, Lender may inspect the interior of tim improvements on the Prdperty. Lender shall give Borrower notice ar the time o[ or prior to such an interim' inspection specil~ing such reasonable cause. 8. Borrower's I,~mn Applicatim~. Borrower shall be in default if, during the l.~oa~l application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially l'alse, misleading, or inaccurate information or slatemenls [o Lender (or failed to provide Lender with material information) in connection with the Loan. Malta-iai representations include, bul are not limited to, representations concerning Borrower's occ['q~ancy of Property as Borrower's principal residence. 9. Protecfim~ al' I.cmler's/nlm-est in the Properly and Righls lJnder Ihis Secm'ily '[nslrmnenl. If (a) Borrower fails 1o perform tl~e covenants and agreements comaincd in tl~is S~m'ity Instrument, (b) dmrc is a legal proceeding that might significantly affect l.ender's interest in II~e l~roperly and/m- rights under this Security h~strument (such as a proceeding in bankruptcy, probate, for condcJnnation or i:or. fcilure, for enforcement of a. lien whid~ may aHain priority over dais Security lnstrnmenl m' Io enforce laws or regulations), or (c) Borrowe~~ has abandoned the Properly, titan Lender may do and pay l:'~r whatever is reasonable or appropriate to protect Lemler's interest in tim Property and rights under this Security Instrmnent, including protecting and/or assessing ll~e vahie al: the Property, and securing and/or repairing the. Prol)erty. Lender's aclions c;h~ irmlude, hut are not limited m: (a) paying any stuns seem'cd by a lien which has priorily ova- Ihis Security Instrument; (b) appearing in court; and (c) paying reasonable ~-6(WY).lbOoSl P~,~7oi~5 ~.., Form 3051 1/01 atto'mays' fags to protect its interest in the Property and/or rights under this Sect~rity Instrumt)nt, including its secured position in a bankruptcy' proceeding. Securing the Property includes, but is not limited entering the Property to make repairs, change locks, replace or board up deers and windows, drain will¢l' from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off.. Although Lender may take action under this Section 9, l_ender docs not have to do sr~ and is not under any duty 0r obligalion to do so. It is agreed that Lender incurs no liability for not taking any c~r all ~ Any. amounts disbursed by l~ender trader this Seclion 9 slmll Become additional debt of Borrower ~ secured by th~s S~ctirity lnstrtmmnl. These ~nnotmls shall bear interest at Ihe Note tale from the date of ~ disbursement and s{~ail be payable, with such interest, upon notice from ken,der to Borrower requesting ~ payment. : .-If this Sect~rity lnstrtmmnt is on a leasehold, Borrower shall comply with all the provisit~ns of the lease. If Borrower acquires fee title to the Pro0erty, the leasehold and the fee title shall not merge unless Lender agrees.to the merger in writing. 10. Mortgage Insurance. 11' Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums reqt~ircd to maintain the Mortgage h~surance in effect. If, for any. reason, the Mortgage Insurance coverage reqt~ired I)y l_cndcr ceases lo l)e available from thc morlgage insurer timt previously prey dad such i hst 'an0e and Borrower was required to make separately designated toward the pren-fiums for Mortgage Insurance, Borrower shall pay thc premiums required lo obtain · ' ...... coverage substantially equivalent to thc Nlo~tgage Insttrance previously in effect, at a cost " equivalent to the cost to Borrower of the Mortgage Insurance previously in cf feet, from an alternate mortgage insnrer selected by Lender. IF std)stantially equivalent Mortgage l~surance covcragt: is not available, Borrower shall continue to pay to Lender lhe amottnt of the separalely designated payments that were due when the instn-a~]ce coverage ceased to be in elTect. Lender will nccepl, use and retain these payments as a non-ret:tradable loss reserve in lieu of Mortgnge Insurance. Such loss reserve shall non-reflmdable, notwithstanding the fact that the l_oan is ultimately paid in ft~ll, nnd I~endcr shall not required to pay Borrower'any interest or earnings on such loss reserve, l.ender can no longer req[~ire toss reserve p~ayments il(. Mortgage Insurance coverage (in the amount and for the period that Lender reclt~ires) provided by an insurer selecled 1.)y i.~ender again becomes available, is oBlained, and Lender requires separately designated payments toward the premiums fOF Mortgage 'losurance. If Lender required Mortgage Insurance as a con(iitior~ of nmking the l..oan and Br)rrower wns reqt~ired to n~ake Sel)aratcly payments toward the l)remitm~s for Morlgage Insurarme, Borrower shall pay tl~c prco~iums required to requirement for Mortgage Insurance encts in accordance with any written }grecmm)t Between Borrower and Lender providing for such lermination or until termination is required by Applic;ff~lc Law. Nothing io this Section 10 afl'acts Borrower's obligation to fay interest at ll~e rate provided in the Note. Mortgage Insurance reimburses [~ender (or any entity that ptlrchases the Note) for certain losses may incur if Borrower does t~ol repay the lx3an as agreed. Borrower is not a party lo the Mortgage Insurance. Mortgage insurers ewduate lheir total risk on all such insurance in force from time to Ihlle, [tl/d may enter in{o agreements with other parties that share or modil~ their risk, or redtme losses. These are on terms and conditions that are satis[~actory to thc morlgage insurer and Ihe other party (or parties) to these agreements. These agreements may require Ihe mortgage insurer to make :payments using any source of i'Mnds that the mortgage ii-tstlrer naay have availai)le (which may incltlde fu~ds oblnincd l=rom Mortgage Insurance pren~iums). As a restllt of these: agreements, l~encler, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of nny of Ibc foregoing, llli~y receive (dirccily or i~ldirt:cll3,) illll()tllllS llial deriv9 from (or might be characterized as) a portion o~ Borrower's payn~ents for Mortgage Insurance, in exchange for sharing or modit~ing the mortgage insurer's' risk, or redtming losses. If stroh agrccnmnt provides that an affiliate of Lender tnkes a share of the inst~rer's risk in exchange for a share of the premiums paid to the insurer, Ihe arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not nt'fect the amounts that llorr{}wer ht~s agra. cd to p~y for Mortgage lnsm'ance, or any other temps of the Loan. S~ch agreemenls will not increase the Borrower will owe fret- Mortgage lnst~r~nce, and they will not entille llorroxver Io t~y ~'eftmtl. ~6(WY) Iooo~l ~,0, ~ ot l~ ~ Form 305'I -- 8,78 (b)' Any such agreemcm$ will not MI'cci ihe riglds Borrower has - if any - wilh respect to Mortgage 'insurance mulet the llomeowner~' Pr(~l. ection Act of 1998 m' any other law. These rights may inchtde the right ia receive certain :di~closm'es, 1o request and obtain cancellation ~{1' Mortgage lnsuram:e, 1'o have the Mortgage Insurance terminated autmnaiically, and/o,- to receive a refmld of ally Mortgage Insurance prcmitmls thai were unearned at the lime flf such cancellation termination] 11. Assignment nf N,'lisccllancm~s Proceeds; lVorfeitm'e. All Miscdlanaous Pr(meeds are hereby assigned to and shall be paid to Lendm'. If ll~e Propert~ is damaged, such Miscellaneous Proceeds shall be applied m reslm'alion or repair of tll~ Property, if Itie restoration or repair is economically feasible alld Lender's security is not lessened. During such repair and restoration period, l..,endcr shall have the right to hold such Miscellanem~s Proceeds until Lender has had an opporltmily to inspect such Property to ensure the Work has been completed to Lender's satisfaction, provided that stroh inspection shall be undertaken pramplly. Lender may pay for the repairs and festora~im~ in a single disl)tu'semenl or in a series of pi:ogress payments as Iho work is completed, Unloss an agremncnt is lrladc iii writing or Al)plicable Law roqmres imeresl m be paid on such Miscellaneous Proceeds, Lender shall not I)c required to pay Borrower any. inlercst or earnings on such Misgel!aneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, tim Miscellaneous Proceeds shall be apl>lied lo lbo stuns secured by this Securily Instrume~lt, Whelher m' not then due, with lhe excess, if any, paid lo llorrower. Stlch Miscellaneous Proceeds shall " .... applied in the order provided for in Section 2. In lhe event of a total laking, deslruction, or loss in value of the Properly, dm Miscellaneous Proceeds shall he apl)lied to the sm-ns secured by this Security his rt mem, wheflter or nm then due, wil'h the excess, il' any, paid t;o Borrower. !n t!~e event of a partial taking, destruction, or loss in value of the Properly in which the fair market value of the Property immediately bel:ore the partial taking, resruction or loss in value is equal to or greater than the amount of the sums sccm-ed by this $ecurity Insh-ument immediately before the partial · taking, destruction, ' or loss in value, unless Borrower and Lender otlierwise agree in writing, 'the stuns secured by this Security Inslrmnent shall be reduced by the amotml of file Miscellaneous Proceeds rnultiplied by the .following fraction: (a) the total amount of the sums secured immediately before the partial taking, destrnclion, or loss in value divided by (b) Ihe fair market value of the Properly immediately before thc partz laking, deslruction, or loss in value. Any balance shall he paid io Borrower. hi tile event of a partial taking, dcslruction, or loss in value of the Property in which the fair market value of the Properly immediately before thc partial lakiog, deslrtlclioll, or lOSS ill Vldtle is less lhall arno'tlnt of the sums sectlred immediately before the partial faking, dcslrtlclio~l, t~r loss in vahle, Borrower and Lender olherwise agree in writing, the Miscellaneous Proceeds shall ,be applied lo the sums secured hy this Secmily lnsh'ument whether or not the Stlllls are then due. If Ihe Property is abandoned by Borrower, or if, after notice by l.ender to Borrower lhat the Opposing Party (as defined in the next stmtence) offers lo make an award to setlle a claim for damages, Borrower fails Io respond fo Lemler within B0 days after the dale the notice is given, I~ender is authorized to collect and apply the Miscellaneous Proceeds either 1o restoration or repair of the Properly or to lhe sums secured by this Security Inslrument, 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 aclion regard to Miscellaneons Proceeds. Borrower shall be in dd'ault if any action or proceeding, whcfl~er civil m- criminifl, is begtm thai, in Lender's jt)dgment, could resull iu forfeiture of the Property or t)iher matciqal impairment of I~cnder's interest in the Properly oz' rights under lifts Security lnstrtmmnt. Borrower can cm'e such a defaull alld, if acceleration has occurred, reinstate as provided in Seclion 19, by causing lhe aclion or proceeding lo be dismissed with a ruling that, in Lender's judgment, precludes fin'l~iture of the Property or olhm' mamrial impairment of Lender's interest in lhe Properly or rights under ~i~is Security Instrument. The proceeds any award or claim for damages fl~at are'atlributable to the impairment of Lender's imerest in Ihe Properly are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds fl~at are not applied lo resloralion m- repair fsi' thc Pmlmrty shall al)plied in the order provided for in Scc[iol't 2. Form 3051 1/01 payment or modification of amortization of tho stuns secured by this Security Instrmucnt granted by lo Borrower or any Successor in Imm'est of Bm'rower shall BO1 operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceediags against any Successor in Interest r3f Box'rower or to refuse to exmnd dine for l)ayment or otherwise moditX amortization of the sums securcd by this Security hlslrument by reason of any demand made by the original Borrower or any S/lccessors in Interest of Borrower. A~ly forbearance by Lender in exercising auy right or remedy including, wittmut limitation, Lender's acceptance of payments from third persr)ns, entities or Successors in Interest of Borrower or in alnounls less lhan the am~mnt then due, shall not be a waiver of or preclude the exerfiise of'any right or remedy. 13. Joint and Several lfiahility; Co-signers; Successm's and Assigns Bmmd. Borrower covenants and agrees that Borrower's obligations nad lia¢ility shall be joint and several. However, any Brm-ower who co-sigos this Sect{rity h~strument but does nm execule the Nr)te (a "co-signer"): (a) is co-signing Ihis Security h~strcment only to morlgage, grant and convey the co-signer's interest in the Property under the terms of this Seem'try lastrument; (b) is not persoually obligated to pay the sums secured by dfis Security Instrument; and (c) agrees t'ha( Lender and auy odmr Borrower can agree to extend, mo(lil~, forbear make any accommodations will~ regard to tl~e terms of this Security hastrmncnt or tl~e Note widmut co-signer's consent. , Subject to the provisions of gcction 18, any Stlgcessor in Interest ol: Borrower who assumes · 'Borrower's obligations under thi~ Security lnstrtmaent in writing, nnd is approved by Lemlm', shall obtain ail of Borrower's rights and benefits under this Security lnsl~mnent. Borrower shall not be released from Borrower's obligations and liability under this Security Instrum~ut unless Lender agrees to st~ch release in writing. The covenants arid agreements of this Security h~slrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may. el~;tt'ge Borrower fees for services performed in connection wilh Borrower's default, for the purpose of protecting Lender's imerest in the Pi'operty and ~ights under this Security Instrument, inch[ding, but not limited to, attorneys' fees, property inspeclion and valuat~cm fees. In regard to any other fees, tl~e absence of express auihority in dfis $ccurity Instrument to charge a specific fee to Borrower shall not be conslrued as a 1¢rt~hibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security lnslrmncnt or by Applicable Law. that the interest (~r other loan charges collected ca' to be collected in connection wid~ fl'm Loan exceed the l)ermitied limitS, Ihen: (a) any such It)an charge shill[ l)e l'cdllccd I)y ll~e amtmnt necessary 1o reduce the charge to the permitted limit; and (b) any sums already collecled fi-om Borrower %[hid~ exceeded permitted limits will be refimded to Borrower. Lender may choose Io make this retired by reduciug the principal owed under II~e Note or by making a direct payment to Borrower. If a retired reduces principal, lhe' reduction will be treated as a parlial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's aCCel)lance of any such retired made by direct payment to Borrower will constitute a waiver of any right of actim~ Borrower mighl have arising out ' ' o~ such overcharge. 15. Notices. All notices given by Borrower or Lender in conne~tiou wilh th'is Security Inslrument !]~tls[ be in wriling. Any notice to Borrower i~'l connection wifl~ Ibis Security lnstrmnent shall be deemed haye b~en given to Borrower when mailed by first class mail or when actt~ally delivered lo Borrower's : notice address i¢ sen[ by other meaas. Notice to any one Borrower shall constitule notice to all l~orrowcrs tm!~ss Applicable Law expressly requires olherwise. The notice address shall be the Properly Address nnless Borrower has designated a sut3stitute notice address by notice to Lender. Borrowe~ shall proml)lly notil~ Lender of Bm'rower's change of address. I1' Lender specifics a procedure for rCl)r)rting Borrower's cha~ge of address, then Borrower shall only report a change of address through d~at specified procedure. There may be only one designated notice address uader dfis Security h~strumen[ 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 herdn unless L~nder has designated mmther address by notice to Borrower. Any notice ccmneclion wifl~ this Security lustrumcnt shall nol be dcmrmd to have been given to Lender until actually received by Lender. If any nnlice reqtlired by this Sccurily Instrument is also required m/der Applical)lc ~ Law, the Applicable Law requirement will satisl~ the corresponding requirement under lifts Security !nstrumeq[.. ~fi{WY} IOoos) Pane ~o of ~ Form 3051 1/01 16. Goverrdng Law; Severability; Rules Ill' Conslruction. This Security Irish'tremont shall b~ governed by federal law and {he la~ of the jurisdiction in which tlte l)ropel'ty is lc~cilled. All rights' and obligations contained in this Security Instrument are subject m any reqnircments and limilations of Applicable Law. Applicable Law. might explicitly or implicitly allow the parties to agree by coatract or it inight be silent, bnt such silence shall not be construed as a prohibition against agreement by cram'act. In the event lhat any provision or clause of ibis Secm'it.y lnstrunmnt or the Note conflicts wilh Applicable Law, such conflict shall not affect other provisions of this given effect without (he conflicting provision. As used in this Security lnsirument: (a) words of the masculine gender shall mcan and include corresponding net~ter wo'rds or words of the feminine gender; (b) words in the singtdlu shall mean and include lhe plural and vice versa: and take any action. , 17. Borrower's Copy. Borrower shall be given one copy of lhe Note and of ~his Sectlrity lnslrtimtmt. 18. Transfer of the Prnpcrty m' a Beneficial Interest in Borrower. As t'lsed in this Section 18, "Interest in the Property" means any legal or beneficial inlerest in the Property, including, bul not limited to, those benefi'cial imeresls {ransfcrrcd in a bond for deed, conlracl for deed, inslallmcm sales contract or escrow agreement, lhe intent If all or any part o1: the l)rope~ly or any Interesl ia the Property is sold or transferred (or if lgorrowcr is not a natural person and a beneficial inleresl i!~ Borrower is solcl or transt~rretl) wilhout Lender's prior · -: wrilten consent Lender may require immediate payment in fidl of all sums secured by lids Security Instrument. Itowevm", this oplion shall not be exercised by Lender if stroh exercise is l)rohibited by Applicable Law. · If Lender exercises this option, l.cndcr shall give Borrower notice of acccleralion. The nc)lice shall provide a period of not less thaa 30 days from the daie lhe nmice is given in accordance with Section 15 within which Borrower must pay all stuns secured by this Security lnsmime'lt If Borrower fails ia pay tl~ese sums prior to the expiration of this period, Lemler may invoke any remedies permitted hy lhis Security Instrament without further notice or demand on Borrower. 19. Borrower's Itight 1o Reinslate Aftra- Acceleration. If Borrower meets certain co~diimns, Borrower sl~all have lt~e right to have enforcement of lhis Security lnslrunmnt discootinued a{ ally time prior to the earliest oF: (a) five days l)el~re sale of the Property purst~ant Io any power of sale cmmiincd in this Security lnstrt]ment; (b) such other peiir)d as Applical)le Law might specii:y f()r the termination of Borrower's right lo.reinstate; or (c) entry of a judgment e~forcing this Security Insh'tm~ent. Those condido!qs are Ihat Bort%wer: (a) pays Lende,' all sums which the,~ would be due under II,is Security Instrnnmnt and lhe Note as il: no acceleration iutd occurred; (b) cures any dcfauh aj} any other covenants or agreements; (c) pays all expenses incurred in enforcing ll~is Security Instrument, in,eluding, but not limiled to, reasonable attorneys' fees, property inspection and valuadt~n fees, and othei: fees thorn-red frn' the purpose of pro/acting Lender's interest in the Property and rights under Ibis Security Iosh'tmmnt; and (d) takes such action as Lender may reasonal)ly require to assure that Lender's interest in the Property and right~ under this Security Instrument, and Borrower's obligation Io pay the sums secured by flits Security ' lnstrtmaent, shall continue m~changed. Lender may require that Borrower pay such reins/atemenl sums and expenses in one or more of the following forms, as selected by Lender:' (a) cash; (b) money order; (c) certified check, baok check, treasurer's check m' cashier's check, provided any such check is drawn upon an institution whose deposits are insured by it federal agency, instrmnen/ality or entity' or (d) Electronic. Funds Transfer. Upon reinstatement by I)orrt~wet-, this Seem-try lnsmm-mnt and obligations secured hereby shall remain lkllly effective as il: no acceleration had occtlrred. Ih)waver, this right lo reinslale shall not apply in lhe case of acceleration under Section 20. Sale nf Note; Change t~l' l,oan Servicer; Notice of Grievance. The Note or a partial inleresl in the Note 0ogether with tiffs Security h'ish-ument) can be sold one Borrower. A sale might result in a change in tl~e entity (known as dm "Loan Servicer") d~at collecls Periodic Payments title under Ihe Nolo and II~is Seem'try Instalment and performs odmr nmrlgage loan servicing obligations under the No[e, d~is Security Instrument, and Al)plicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of Ihe Note. If there is a chm~ge of Ihe Lmm Servicer, Borrower will be given writlen notice new Loan Servicer, lhe address lo which paymems should be'made and any other information RESPA ~6(WY) Iobos) Page ~ o~ ~s Form 3051 1/01 reqdrcs in connection wid~ a notice of transfer of servicing. I1' the Note is sold and therealqer tl~e Loan is Serviced by a Loan Servicer off'tar than ilia purchaser of the Nc)lc, the mortgage loan scrviciag obligatiol~s to Borrower will remain wid~ tl~e Loan Servicer or be transferred to a stmcessor Loan Servicer and are i1o1 assumed by the Note [)urchaser un[ess otherwise provided by the Note plll'chaser. Neither Borrower nor Lender may commence, join, or be jdned to any judicial action (as either an individual 'litigant or the member of a class) that arises from the other party's actions pm-suant to this Security Instrument or that alleges that the other party has breached any provision of, or any drily owed by reason of, this SeCurity lnstrtn'nent, until such Borrower or Lender has notified Ibc other l)arty (with such notice given in compliance with the requirements of Section 15) of such all,ged breach and afforded the .other party hereto a reasonable period after the giving t3t' such notice to take corrective aclion. Applicable Law provides a time period whidx nmst ehtpse before certain action can be taken, that lime period will bd deemed to be reasonable for ptn'poses ol: this paragral)h. The notice of acccleratirm and opportunity to cm'e given to Borrower l)ttrstianl lo Scclion 22 and Ihe notice (~1' accderation given Borrower pt~rstlan[ Io Section IS shall be deemed to slttist~ lhe notice and opportunity lo take correclive action provisions of this Section 20. 21. llazardous Sul)slances. As nscd in Il/is Section 21' (a) "lhizardrms gt~bstances" arc lhose substances defined as toxic or hazardot~s substances, polh~tants, or wastes by Enviromnental Law and following substances: gaso'line, kerosene, other lqamlnable or Ioxic petroleum pl'Odtmfs, loxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, hnd radioactive materials; (b) "Environmental Law" meaBs federal laws a~/d laws of the jm-isdiction where the Prtqmrty is located Ihat relate to health, safety or environmental proleetir~n; (c) "Environmental Cleantq3" inclndes any response action, re Bedial adion, or removal action, as defined in Environmental Law; and (d) ill'; Condition" means a condition lhat can cause, contribute to, or otherwise Iriggcr an IEnvironnmntal Cleannp. -Borrower shall not cause or permit the presence, use, disposal, storage, or rdcltse of any Ilazardous' Snbstances~ or threaten to release any l{azardons Substances, on or ia Ihe Properly. Borrower shall not nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Law,' (b) which creates an Environmental Condilion, or (c) which, dne Io fl~e presehce, use, or release of a Itazardous Substance, creates a condition that adversely affects Ihe value of the Property. The preceding two sentences shnll not apply to the presence, use, or storage on the Property of small quantities of Hazardons Substances that are generally recognized to be appropriale to normal residential uses and maintenance of the Property (inclmting, but not limited to, hazardous stfl3siances in r:onstnner prodt~ClS). Borrower shall promptly give Lander writlen notice of (a) any investigalion, claim, demand, lawsuit or other action by any governmental or reguhtiory agency or private party involving die Property and any Hazardous Subslance or Environmental Law of which Borrower has aciual km3w}cdge, (b) any Environmental Condilio~l, including but not limiled to, any spilling, leaking, discharge, release or Ihreat release ol: any llazardcms Std)slance, and (c) any condition caused l~y the presence, use rn' release of Itazardot~s Substance which adversely afl'crJIs tim value of lhe Prr)perty. If Borrower lear~ls, or is notified by any govermnen'tal or regulalory and~ority, or any private party, lha[ any removal or {)ther rer~mdialio~ of any Hazardous Substance alTccth'~g thc Property is necessary, Borrower shall proml)rly lake all necessary remedial actions in accordance wilh Enviromnental Law. Nothing herein shall create any obligaiiol~ on Lender for an Environmental (~-6(WY) Iooos) ,' ?afl~ 12 o115 ~_~~,_,,~)%1~/¢ Form 3051 1/01 dol'ault nl~ or bel'orc lhe date ~pecH'icd h~ ll~e tmiic~ tony resull i~T acceleralion ol' lhe ~tllll~ ~I~CUL'C(I l)~fitC~ llle {hl[~ ~l)~clf'lcd In 1t]~ nolicc, [,under at jl~ ol)lio, ilX~ly requh'~ i[mncdhHc lmyn~enl hL Full {'uJ~I{~}~ this SuctH'ity h:sH'imto~C, l.mt on{y if Iht i'ce i6 DxJd th a {hJl*d pnrty i'or ~crviuu~ rendered BY SIGNING BELOW, Borrower accepts and agrees lo Ihe lernls and cove~lanls contained in Ihis Security Instrument and in any.Rider ~xeculed by Borrower and recorded with it. Witnesses: CAMERON ROBERTS -n,...~.v~,- (Seal) (Seal) (Seal) (Seal) (Seal) (sex 1) -Borrower -lhn'rower ~6{WY) 106051 Patlu 1,~ ul 15 Fom~ 3051 1/0'1 STATE OF WYOMING, LINCOLN, C,m,~ty ss: The Foregoing instrument was acknowledged before me Ibis December 3, 2001 by CAMERON ROBERTS~ LAURIE McKEE - --' COUNTY'OF LINCOLN. ~ WYO~IND EXHIBIT A Legal Description for Cameron Roberts Lots 1, 2 and 3 of Block 2 to the Townsite of Cokeville, Lincoln County, Wyoming as described on the official plat thereof.