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HomeMy WebLinkAbout887116SOUTHWEST TITLE CO. Fax: 1-:507-877-9602 ]an 17 '05 12:49 P. 13 ~tumTo: WELLS FARGO HOM~ MORTGAGE, INC. 3601 MZNNESOT~ DR. SUITE BLOOMINGTON, MN $5435 P~d By: WELL~ FARGO HONE MO~TC~AGE, iNC. 1919 DOUGLAS,, 0M~HA, 651010000 MORTGAGE DEFINITIONS Words uscd in multiple sections of this doctm~,'nt a~ dafmcd be_low and other words axe d~fi~d in Sections 3, 11, 13, 18, 20 'and 21. Cr. naia rules rcg'mdi~ thc usage of words used in this doo]m~at are al,~n provided in Section 16. (~) "~ecl~rit3' ~e~t" m¢~ t]~ d0cumcut, which ~ d~tcdJANUARY 17, 2003 together whh ',d/Pddcrs to this ~) "Borrower" is TODD K. LUTEI AND CONh~Z"E bwr~I, HU$~ARD AND WZFg Borrower is the mortgagor under this ~curity Iustmm~at. (C) "L~nder"iS WELLS FARGO HOHE MORTGAQE, INC. D:nder is a CORPORATION orgarized and existing under d~e laws of ~ STATE OF CALIFOIL.NIA 001B497172 WYOMING-Singl= Fam;Iy-Fannie Mae/Fr~ddle MaG UNIFORM INSTRUMENT Form 3051 1101 SOUTHWEST TITLE CD. Fax:l-307-877-9602 Jan 17 '05 12:49 P. 14 Lcnd='sadd~ss~ P.O. BOX 1030%, DES )4OINES, IA $0306030A 400 Lsnd~ is thc mortgagee Imder ~) "No~" m~ ~c ~o~so~ note si~n~ by ~rrow~ ~d ~mdJ~Y 17, 1003 The Note s~t~ ~t Bo~ow~ owes ~d~ BIX~ ~ ~0us~ ~ o0/100 Dollars ~.S. $*****~, ooo.00 ) pI~ in~t. Bo~ower h~ p~ ~ pay ~ debt ~ ~g~ P~o~e Pa~ ~d~ pay ~ debt~thtcr th~n ~Y 01, 2018 ~p~." ~ "Lo~" ~ ~e debt ~ by ~ Not=, plus ~, ~y p~a~t ~s ~ ~ ~gcs due ~&r ~ Note, ~ ffi m d~ ~r ~ Sec~ ~, plus ~t. (G) "Rid~" meam ffi ~&~ m ~ S~i~ ~~ ~t ~e ex,ted by Bo~ow~. The followi~ ~d~ ~ to be ex.tM by Bo~ow~ [~k ~x as a~eable]:  Adjus~ble Rate Ri~r B~on ~d~ ~ ~ U~t D~d~ ~r ~ 14 Family Rid~ ~ VA ~der or) "AppUcable Law" mram dl co~rolliug ~pplicahl~ lc&mi, stat~ and local statutes, rrguhtiom, ordlnan¢~ and admini~tlltive IIl].C~ 'and orders (that have tim rffcct of law) as well as 'all applicable final, non-app~flable judicqal opinions. (l) "Conmaunity Association Dues, Fees, and Asses~nents" mean.q all dues, fees, a.~sessmen~ and otl~r ~h~rges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar orgm, l,ation. (J) "Electronic Ftmd~ Transfer" means any tramfrr of funds, otis: thml a trans~ction origiuatr, d by check, draft, or ~mlhr paper insmm~aat, whidt is initiated th,~ough an electronlc terminal, telephonic instrument, computer, or magnetic tape so as to order, ire'In, ct, or authorize a firmm:ial illgtittltiOn to debit or credit an account. Such term includes, bo! is not limited to, point-of-sale transfers, aatomated teller machino (IausacfiOl~, tmnsfer~ initiat~ by td~hone, wire (za~ers, and automated clearLughouse transfor~. ~ "Escrow Items" means those imms that are described tn Section 3. (L) "Miscellaneous Proceeds" mca~s any comp~ation, $ctllcment, award of d~n~gej, or proceed.~ paid by any third pan7 (other th,n Insurance pzoc~eds paid under the cove~ges described In Section 5) for: ti) ,q,m~$e to, or dcsm~._ction of, the P~open~; (ii) ¢ondemn-~don or other takin~ of ~11 or any part of the Property; (iii) conveyance in lieu of cozxdem~.~(io~l; or (iv) mi.vtepre~eutaliou.~ of, o~ omi.~.~iou.,~ uz to, thc value and/or condition of the Property. 0VO "Mortgage Insurance" means insurance protecting Ltmdrr against the norrpaymm~ of, or dm~ault on, the Loan. ON') "Periodic Payment" mean., the regularly Schedaded amOUnt doc for (i) principal and inlerest 'under ~e Note, plus (ii) any amo~mts under Section 3 of this Security ImtmmenL (O) "REgPA" means the Peal E.qtate Settlement Proccdm, e$ Act (12 U.$.C. Section 260I *t srq.) and its imph.'m~nfing rrg-ahtion, Rcl,mhtion X (24 C.F.R. Part 3500), ~s they might b~ 'amtmd~ fi:om fim~ to tim~, or any additioml or mcceasor l~gislafioa or r~gulation that goverm ti~ ~ subject matter. As ~.~d in this Security InqCmme~ "RESPA" refers to all require, meats ami restrictions that ate imposed in regard to a "federally related mortgal/¢ loan" ~vcn if thc Loan do~ not qualiI~, as a "federally related mortgage loan'.' under RESPA. (~6(WY) 10oo5) ~'a;. 2 of 15 Form 3051 1/01 SOUTHBEST TITLE CO. Fax:l-S07-877-9602 5an 17 '05 12:50 P. 15 4O/. (~) "Successor in Interest of Borrower" mea~ any pn~'y that tuts tak~ title to the P~opcxty, whether or mt tl~t p~rty ha~ a.~umed Bozrower's obtigations ~.~r the Note and/or ~ Security TRANSFER OF KIGHT$ IN THE PROPERTY TI~ Security Iastnxme~ secuxes to Leader: (i) ~ ~epay~ of ~e Lo~ ~ ~ ~cw~s, c~o~ ~ ~ca~om of ~e No~; ~ (~) ~c p~b~,~ of Bo~ow~'s ~v~-~ ~ ~cn~ un~r Se~ ~s~ ~d ~e Nom. For ~ ~rpose, Borrower ~ he.by ~ng~, g~ ~ ~n~y m ~ ~d ~d~'s succ~so~ ~ ~, ~ ~w~ of s~e, ~e foDo~ de~fi~ prop~y located in ~e CO~ of L~Co~ : ~EE A~A~D LE~ DESCRIPTION 1994 NASHUA VILLA MODEL ~ 6018, SERIAL #WNID33985AB HUD TAG #'S 137997 ARD 137998 TAX STATEMENTS SH0Ur~3 BE SENT TO: WELLS FARGO HOME MORTGAGE, INC., P.O. BOY 10504, DES MOINE$, IA 503060304 Parc~ ID N~]mh~r: 1234191430203500 ROBERTS AVENUE 'Property Address which, curt:early has tl~ a&l~.ss of [City] , Wyoming 83127 IZip TOGETHER WITH all tim improw-m,~.ts now or hcrcaft~ e:rectcd on the property, and 'all easemonts, apptmenance..% and fixtm~ now or h~'eafter a pan of the l~operty. All r~plac, ements and additions nh.Il 'also b~ covered by this Sc-curity Instrument. All of thc foregoing i, r~f~rted to in this Security I~tstrument as the "Property." BORROWER COVENANTS that Borrow~ is lawfully sfised of the estate hereby conveyed and has the right to mortgage, trant and convey the Property tad that the Property is tmencumbered, except enc~mhranc~ of record. Borrower wsrranr, g sad will defend generally the dtle tn the Property against 'all claims ~nd demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combiims uaifofm covea~ntS for national usc and non-uniform covc~ants with limited vagations by jurisdiction to comtitutc a unLfonn s-~:urity in.strtunem covering real property. I_IN~ORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Rems, Prepaynumt Charges~ snd Lnte Charges. Borrower shall pay when due the principal of, and interest oa, the debt evidenced by the Note and any prepayment ch~ges and hte charges due under the Note. Borrower .shall also pay funds for Escrow Items pur~,ni' tO Sectio~ 3. Payn).ems due under thc Not~ and this Scg'urity lnstmngnI sh,l! be made in U.S. currency. However, if any check or other insWm,~t received by Lender as paymcn~ under thc Note or this (~)~-6(VV~') tooos~ ~,,~ a ,,~ ~ s Form 3051 1/01 SOUTHWEST TITLE CO. Fax:l-~07-877-9602 3an 17 '05 12:50 P. 16 0 7116 402 SecQrit'y JIM;tic, me'ur ~ Ie~ed to ~er u~d, ~ ~y z~ ~t du~ ~d~r ~,e Note ~d ~ Se~ ~~ be ~de ~ o~ oz ~re of ~'s ~k, prov~d ~y ~ch check ~ d~a~ ~n ~ i~fimfi.on whose ~osi~ ~e i~ by a [~ aE~c~, j~m~mli~y, or c~; or (~ ~c ~&, T~fcr. P~ ~ dc~.d ~v~ ~ ~d~ wh~ r~v~ a~ thc JocaQ~ ~ ~ ~ No~ or at tach o~er logan ~ ~y be d~ted by ~nd~ m ~ce ~ ~ ~dce ~om ~ ~cdon 15. ~er may re~ ~y pn~m~t or p~ payt~ if ~e pnym~t or p~ psym~ are i~t br~ ~ ~ ~re~. ~er ~y acc~t ~y paint or p~ pa~ c~t, M~out w~v~ of ~y figh~ h~ or ~'u~c to i~ fi~ to r~c s~.k pay~ or p~ pa~ ~ ~e lht~, but ~d~ h mt obliga~d m ~ly ~ch paym~ at ac~p~. If ~ P~o~c Pa~ ~ ~cd ~ of i~ schcd~rd ~ &~, ~ ~x ~e~ mt pay in.st on m~li~ ~. ~nder ~y ~1~ ~ ~pplied ~&~ ~ Bo~ow~ · e ~ ~ent, N Bo~wer does not do ~ ~&in a reasomble period of dine, ~er shffi ~r apply ~ch ~s or ~ ~ ~ ~w~. If~t a~licd ~li~, ~ch ~ ~I ~ ~li~ to &c ou~ndi~ pr~p~ balance ~d~ ~ Not~ i~ly pdor ~ fox~lo~. No o~ct or d~im w~ch Borrower ~t ~vc now or Ju ~c ~t~c against ~&r shall rclicvc Bo~ow~ from ~kqng ~aymcn~ duc ~ No~ ~ ~ S~fi~ ~t or p~lb~ing ~ cov~ ~ ag~c~ s~ by ~ Set. dry I~me~. 2. Applimfion of P~ or ~o~. ~c~t ~ o~e~e d~c~b~ paymen~ a~ep~d ~d a~ ~ ~r ~Q b~ appQ~ in &~ foUo~ug or&r of pfiofiV: (a) in.rest ~c '~&r ~c No~; ~) pr~fip~ ~c ~ ~ No~; (c) ~o~s ~c ~ Sccdon 3. ~h paym~ ~h~ ~ a~d ~ ~ P~dic Pa~ ~ ~ o~er ~ wM~ it b~ due. Any ~inlng a~un~ Sh~ll ~ ~pfic~ ~a to ~ c~g~, s~o~ to ~y o~ ~ due ~ ~ S~ ~W~m-~, nnd · ~ tO r~ ~e pd~p~ balance of ~e Note. If ~er r~ivm a pa~t ~om. Bo~ow~ for a &li~nt P~o~c Paym~t whi~ ~ludes a ~ ~t to ~y ~y ~ eh~c d~ ~ payme~t ~Y be ~p~ed ~e ~e ~ge. If mo~ than o~ Pc~c Pa~ ~ ou~d~, ~ ~y apply ~y pa~ r~civcd from Bo~ow¢ to ~c repay~ of ~c P~io~c Paym~ fi, ~ m ~e ~ ~t. ~ payment ~ be p~ m ~. To ~e ex~ ~t a~y ~ e~ a~ ~ paym~t ~ a~lied to ~e ~ll pa~ ol on~ or ~ Per~ Pa~, ~ e~e~ ~y be a~ ~ ~y 1~ ~ges ~e, Vol~ prepaym~ ehall Any apyli~6on of pa~, i~c pro~&, or ~cU~cu~ Proc~& ~ p~ci~ due ~r · c Nora ~h~l~ not ~ or pos~ ~ ~c ~m, or ~h~n~c ~ ~m~mmt; of~ P~o~c Pay~. 3. Funds for Escrow It~. Bo~w~ ~U pay ~ ~nd~ on ~ day P~odic Pa~ ~ due ~mder ~ Note, ~mfil ~ No~ ~ p~ ~ ~, a ~ (&c "F~&s") to pro.dc for pa~t of a~m~ ~c for: (a) ~es ~d mt~ ~d o~ it~ w~ ~ a~n pdofi~ ov~ ~is Secu~V I~mem as a li~ or ~br~ on ~ Prop~; ~) lc~r~ld pa~n~ or gouM r~ on ~ Pxo~y, ff ~y; (c) pr~ for ~y ~ ~ i~ce r~d by L~d~ ~d~ S~don 5; p~.ms, ff ~y, or ~y su~ payable by ~w~ m L~ ~ ~ of ~ paym~t of Mortgage ~ p~ms ~ accor~cc w~ ~e p~visio~ of Sccdon 10. These itc~ arc c~lzd "~w It~." At ofi~fion or at auy ~e dung ~e t~ of ~o ~, ~er ~y ~q~e ~oc~n ~, F~s, ~d ~se~, ~ ~y, be ~owed by Bo~ow~. ~ p~d ~cr ~ S~do~ ~rrow~ $h~ll pay ~ ~c ~ for ~w lt~ Bo~0w~'s obllgaQon to pay ~e N~ds for ~y or all ~ow 1~. ~ ~y w~vc Bo~w~'s obligation ~ pay to '~nd~ Fun~ for any or ~ ~c~w Ite~ at ~y ~. ~y ~ w~vcr nny only bc in ~fi~. ~ ~ cw~t of ~ w~v~, Bo~ow~ s~ pzy ~Qy, wh~ ~ wh~c payable, ~e a~ SOUTHWEST TITLE CO, Fax:l-SO?-8??-9602 3an 17 '0~ 12:51 P.i? due for any 'E,~ow Items for which pay~ of F~s ~ b~n w~v~ by ~ ~n~, if ~r r~firos, ~ f~sh ~ ~ r~ip~ ~d~ng ~ pa~em M~ht ~ tl~ p~iod 9o~ower'~ obliViOn ~ ~,~ ~ pa~ ~ m ~c r~p~ ~aIl for ali p~ ~c 8e~m~ to be a cown~nt ~ a~m ~u~ in ~ S~ I~ent, ~ ~e p~c "~vemnt k ~d h Section 9, ~ Bo~w~ is ob~ga~d to pay B~w It~ ~r~fly, Bor~wor ~s to pay ~ ~ount d~ ~r ~ K~w I~, ~d~ ~y ~e ~ fighu ,na~r Set, on 9 ~ pay ~ ~u~ ~ Bo~ower ~ ~mx ~ obl~ated uM~ S~on 9 ~ ~ay to ~ ~y such ~o~t. Le~ ~y ~o~ ~e ~v~ a~ ~ ~ or a~ ~cmw I~ at ~y ~n~ by ~ ~ ~ven in a~rd~e wi~ Sec~ou 15 ~d, ~on ~ r~ocaflon, Bo~ower ~ pay to Len~r ~ ~y, at ~y ~e, co~ ~ hold ~ ~ ~ a~ (a) ~fi~ ~q~ ~der ~PA. ~nder ~hall esti~ ~ ~ of ~un~ du~ on r~mble ~s of ~~s of fury ~w Im~ or o~ in accor~ M~ A~li~ble ~w. ~e F~ ~ b~ h~d i~ ~ ~tu~on whose ~po~u u~ ~ by a f~d~ ~cy, ~nt~ity, or entity Cmclud[~ ~der, ~det ~ ~ins6m6on w~se ~y Fede~ Home ~ B~. L~r ~ apply ~ ~nds to pay ~ ~w ~ified ~d~t ~PA. ~er sha~ ~t ch~ge Bo~wer for ~l~ng ~ appl~ nn~ly~ng ~ e~crow accost, or v~ ~e ~ow It~, ~lc~ ~der pays Bo~ower Fu~ ~ App~ble ~w pe~ ~udcr to n~ su~ a ~ge. Unl~ ~ a~e~nt is ~ in ~i~ o~ App~able ~w ~r~ hm~st to be p~d on ~e ~s, ~r s~ not be r~uk~ to pay Bo~ower ~y h~t or e~fi~s on ~ F~. Bo~ow~ ~ L~d~ ~ ~r~ h wHti~, howler, ~t i~r~t If ~ ~ a ~lus of ~ held h v~row, ~s defied ~der ~PA, Bo~wer ~r ~ ~ ~n8s h a~r~c~ Mfl~ ~PA. If ~ is a ~e of F~ held in ~c~w, u ~ ~ ~A. ~r shall ~ Bo~w~ ~ ~q~ed by ~A, ~nd~ ~e a~t ~es~ to ~ up ~e s~e in accor~ wi~ ~PA, but in no ~r~ ~n 12 money payola. If ~ ~ a derisory of F~ held h es~ow, as de~ und~ ~ Bo~w~ ~ ~ed by ~SPA, a~ Bo~o~r ~1 pay ~ ~dor up ~e deficJ~y h aceord~ce wi~ ~A, but h no mo~ fl~ 12 money paying. Upon payment h ~I of ~ ~m s~ed by ~ S~ufi~ Imq~, ~m ~1I ~o~fly zend to Bo~ow~ ~y F~ held by ~d~. 4. C~g~ Li~..~ow~ ~ pay ~ ~cs, ~se~, cha~, fin~, ~d i~ofi~ons at~le ~ ~ Prope~ w~ch c~ a~ pfio~ over ~ S~ '.[m~ent, le~old pay~ or ~o~d re~ on ~e ~ope~, ~ ~y, ~d ~mm~ Asso~n ~s, F~s, ~ K~~, if ~y. To fi~ extent ~t ~ese h~ ~ ~ow Ite~, BoHow~ ~ pay ~ in ~e ~nn~ provi~d h S~6on 3. Bo~w~ ~all p~mp~y ~scharg~ ~y Ileal w~ has p~fi~ over ~is S~'i~ Bo~ow~z: (a) a~s Jn ~g to ~ paym~.xt of ~e obl~afion ~u~d by ~e ~ in a ~ acc~mble to ~er, but o~y so long ~ Bo~wer is p~o~ng ~ ag~nt; ~) prevent ~ e~ome~ of ~e ~ ~le ~o~ pro~ngs ~e ~g. but o~y ~ ~ ~oc~dings ~ conclude; or (c) ~cu~ ~m ~ hold~ of ~ li~ ~ agr~ ~s~o~ to ~nd~ Form 30Sl 1/01 SOUTHWEST TITLE CO. Fax:1-$O?-877-9602 ]an 17 '03 12:52 P. 18 li~. W~m;. 10 days of the dat~ on which tha£ notice is given, Borrower sh;l! satisfy the Ilea or mk~ one or more of thc ac6ons set tbrth above i~l this Section ~,. Lead~ may require Borrower to pay a one-time charge for a real esm~ ~x v~ificafion an~/or r~porting service used by Lender in connection with this Loan. S. Property Inmr~ce, Borrower shall k~p thc improvemeats now existing or hereafter erected on th~ Property insured against loss by fin:, hazanis included wiflfln the t~rm "e×tended coverage,' and any other h,,.~rds including, but not ~lmited ~o, earthquake.~ and floods, for which Leader requires insurance. This im'urancc ,~h~ll be ,r~i,taincd in ihe amounts ('including deductible levels) 'and for the periods that Lender requires. What Lender requires purs'umt to ~ preced/ng sen~n~cs can chan~e during the term of thc Loan. The insurance carrier providing ti~¢ insurance sMIl Ix: chosea by Borrower subject to L~uder's right to disapprove Borrower's choice, which right .shall not be exercised unmaso~ly. Lender may require Borrower to pay, in conn~'tion wia this Loan, cithcr: (a) a one-lirue charge for flood zon~ determimtion, certification and trsc~,g services; or (b) .~ on,-time charge for flood rune dctermimtion and certification services and subsequent charges esch tim, remappings or slmit.r changes occur which reasonably might affect such de~rmiuation or cenificatlon. Borrower slmll also be responsible for the paymenl of any fees imposed by the l~edcr, d Bmcrgency Management Agency in coni~ction with the review of any flood ~on~ dem-mi~ti0n r~,'suiting from an objection by Borrower. Ii~ Borrower fails to ma/nr,~in any of the coverages described above, Louder ma), obtain iamrancc coverage, at Lender's option and Borrower's expen.~. Lender is under no obligation to purchssc any particular type or nrr~unt of cover'age. Therefore. such coverage .,h~!l cover Lender. but migh£ or might not tn~tcci Bon~wer, Borrower's equity in the l:'ropeny, or the contents of mc Property, allainst any risk, 'haza'd or liabiliv/a~i might provi& greater or lesser cowragc t~n was previously in effect. Borrower aclmowledges that the cost of ~he insurance coverage so obained might significantly exceed the cos~ of insurance that Borrow-r could have obtained. Any ;,-~atm.~ disbur.~ed by Land~r under thi~ Section 5 .shall become additional debt of Borrowr. r secured by this Security Instrument. Thc~e amouuts shall bear irtm~ at the Note rate from the da~c of disImrsement and ~all b~ payable, with such int~'ast, upon nn~ice from Lea.der to Borrower requesting payment. Ali insurance policies required by Lender 'and renewals of such policies shall be subject to Leruler's righ~ to disapprove tach policies, sh:~ll .include a s,,,,,t.~nl mon~aSc clause, and shall nan~ Lend;r as mortgagee and/or as an addldonal loss payee. Lender shall have ~he right to hold thc policies and renew'al certificittes. If I.~micr requires, Borrower sh~ll promp£ly give to l.~mder all receipts of paid premiums and .reaewal noticcs. If Borrower obtains :my form of insurance coverage, nos o~"rwise required by Lender, for damage tn, or destruction of, the Property, such policy shall include a standard monlla~e clause and shall ~:~n~e Lender as mortgag~ and/or as au additional loss payee. In th~ event of loss, Borrower .~h~,t] give promp~ notice lo Otc insurance carrier and Lender. Lender nmy make proof of loss if no~ ,~dc promptly by Borrower. Unless Lcn&r and Borrower otherwise agree in. writini, auy insuran;~ proceeds, whelhcr or no~ ~he underlying in.~rance was required by Lender, shall bc applied to restoratlnn or repair of the Property, ii' the l'~.qoration or repair is economically feasible a,d Lender's security is not le.~eaed. During such repair and restoration p~od, lz'nder shall haw the_ right to hold ach insurance proceeds until l~nder ha.~ had an opportunity to fn..~:ct tach Property tn cn~re th~ work l~s been compWted to L~nder's sa6sfac~ion, provided that such i~sl~ction shall be undertaken prompdy, l..and~ may disburse procceda f~r th~ repairs and m~toration in a single paym~m or in a series of prog'ress paynmms as th~ work is completed. Unless an a~recm~nt is made in writing or Applicable Law requires inter~st to bc paid o~t such in.~rance proceeds, I.c~er ;~;tl not be r~quired to pay Borrower any in,'r~st ur earnings on ~ch proceeds. Fees for public adjustc~, or oth~r 0tlrd parties, retained by Borrower shall not be paid out of the i.usarancc proceeds and shall be t.M sole obligation of BorroWer. If the res£oration or repair ~ not economi~lly f~ble or Lender's security would be lessened, the inmrance pmcccds shall b~ applied to the sums scoured by 6tis Security In.~rument, whether or not then due, with Form 305'~ ~/ol SOUTHWEST TITLE CO. Fax:l-507-877-9602 ]an 17 '0~ 12:52 P. 19 405 the excess, if may, paid to Borrower. Such imun'anee proceeds shall be applied in the order provided for Section 2, If Bouower ab'axtoas the Property, Lender may file, negotiate and settle any available insmanee clnlm and related matters. If Borrower does not respond within 30 days to a notice from Lender that ~e immrance carrier has offered to settle a claim, then Lender may negotiate and settle the el~;m. The 30-day period will begin when the notice is given. In either event, or if D~,t,.r acquires the Property under Section 22 or otherwise, Borrower h~eby as~? to Lender (a) Borrower's fights to any insuranc~ proceeds in an amoum not to exceed the amours u~paid under the Note or this Security Inst~,~nt, and (b) any other of Borrower's rights (other th~n the right to any r~fund of un~ premiums paid by Borrower) under all inmrance policies covering the Property, in.~far as such rights are applicable to the coverage of the Property. Lender may use thc insurance procecds either to repak or restore the Property or to pay amounts unpaid under the Note or this Security Im'Uumenl, whether or not then dae. 6. Occupant. Borrower ..~,,u occupy, establish, and use ~he Property as Borrower's principal residence within 60 days after the execution of this Secua'ity In,~'trumeni 'and shall confine to occupy the Property as Borrower's pfiocipal residence for at least one year 'after the date of occupancy, unless Lender otherwise agrees in writing, which con~ent shall not be unreasonably wifl~.ld, or tmless extenuating circum~ances exi.~t which are beyond Borrower's control. ?. Preservation, M,'flntenance and Prutectlon of the Propen~i Inspections. Borrower shall not destroy, 'damage or impair thc Property, allow the Property to deteriorate or commit wa,~e on the Property. Whether or not Borrower is residing in the Property, Borrower ~all maintain the ?mperry in order to prevent the Property from deteriorating or decreasing in vaue due to its condition. Unless it is determined p~ to Section 5 that repair or restoration is not ecoaomically feasible, Borrower promptly repair the Property if d~maied to avoid further deterioration or damage. If insurance or condemnation proceeds an: p'aid in connt-aion with damage to, or the takirill of, the Property, Borrower shall b~ responsible for repairing or re.~ring the Property only if Lender has released proceeds for such purpor,~s. Le,~,~,r may disburse proceeds for the repairs and restoration in a ,~,.l, le payment or in a series of progress payments as the work ks completed. If the insurance or condem~:,tion proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the complefinn of such repair or restoration. Lender or its. agent may n~ke reasonable entries upon anti iuspeetions of the Property. If it has ieasonable cause, Lender may b~'pect ~he interior of the improvements on the Property. Lender sh,d~ give Borrower notice at the time of or prior to such an interior inspection specifjdng such rc'a.~onabl¢ cause. 8, Borrower's Loan Application. Borrower shall be in default if, duri~ the Loan application process, ;Borrower or any persons or cnt:i~es acting at thc direction of' Borrower or with Borrower's knowWdge or eonseni gave materially false, mi.~'leading, or inaccurate information or statemen.ts to Lender (or failed to provide Lender with match'al information) in connection with the Loan. Material representations include, but are not braked to, repres~ta~ions concerning Borrower's o~'upancy of the Properly as Borrower's principal residence. ~. Protectiou of Lender's Interest tn the Property and Rlght~ Under this Security I~tr~ment. If (a) Borrower fails to perform the core--ms aud agreemen~ co,ned in this Security Instrument, Co) there is a legal proceeding that might si[~ii~canfly affect Lender's interest in the Property a.ud/or rights under this Security Instrument (such as a I~'oceeding in bankrupmy, probate, for condenmation or forfeiture, enforcement of a lien which nay attain priority over this Security In.~aume-nt or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender ma), do and pay for whatever is reasonable or appropriate to protect Lender's interest in the l'roperty and fir. h~ under this Security IttsW,,~-nt, including protecting anti/or assessing the value of the Property, anti securing and/or repaifiug the Property. Leader's actions can include, but are lint limiied to; (a) paying any sums secured by a lien which 'has priority over this Security Instiument; Co) appeari~ in court; and (e) paying reasonable (~-IS(~Y) (ooos~ r~3,?otls Form 3051 1/01 SOUTHBEST TITLE CO. Fax:l-S07-8?7-9602 3an 17 '03 12:55 P. 20 406 attorneys' fees to l~Otect its Jnmrest in the Property and/or fights u~d~r th/s $~'ufity/~trume~ its secured po.~/t/on in a banlr~ptcy proceed/ng. Securing the Property includ:s, but h not limited to~ en~'h!g the Pnyperty to make repairs, ah:~nEe igc, ks, l'6'phc~ or board up dnoxs and windows, drain water from pipes, elimit~t~ building or otl~r code violations or dangerous ~ndilions, and have utilities turned on or off. A/though Lender may take action ~nder this ~ection 9, J..e~ler docs not have to do ~ and i.~ not under any tlmy or obligation to do so. It is ag~cd that I~dor incurs no liability ~or not taking any or all actions authorized under this Section 9. Any amounts disbursed by L~u~-r unckr this Section 9 .~h~ll become additional debt of Borrower ~ecu~d by this Security Instrument. Thee amounts ,~l~an bear interest at thc Not~ ram from the date of disbur~elllent alld .~hull b~ payabk, with such intc'xe.~t, upon notice from Lender to Borrower r, xlUesting payment. Iff this Security Insw,m_--nt is on a leasehold, Botrow~ shall comply w/th all the provisions of lease. If BOrrower acquires f~e title to thc Property, the kaschold and the fee ti~ ~all mt raerg¢ unI~ss Lender aires to thc merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance a~ a condition of malting thc Loan, Borrower eh,all pay the premiums rCClUired to maintain the Mortgage Insuranc~ in effect, it', for any reason, tl~ Mortgage Inmrance coverage required by Lender c~ases to be availabk/rom thc mortgage insurer that previously provided tach ins'm'~nce and 9orrower was required to ,hake separately dcsig'nat~d payments toward th: premiums ibr Mortgage Insurance, Borrower shall pay thc premiums required to obtain coverage s~bstantially equivalent to the Mortgage Insurance previously in effect, at a cost S~lbSt:anrially equivalent to thc cost to Borrower of the Mortgage Insurance previously in effect, h'om an alternate mortgag~ insurer sdectcd by Le~tr. if substantially equivalent Mortgage Insurance coverage is not available, Borrow& shall continue to pay to Leneter the amount of th~ ,~pamt¢ly designator paymcnt.~ that were duc when the insuranc~ covcrag~ ceasccl to be in effect. Lc. nra, will accept, usc ',md retain thc,sc payments as a non-rcfunchbl~ loss reserve in lieu of Mortgage lm'u~ance. Such loss r~=rvc shall be mn-refundable, notwithstanding thc fact that th~ Loan is ultimately paid in full, and Lend~ shall mt r~uimd to pay Borrower any interest or ~arnings on ~ch loss reserve. L~nder can no longer requir~ loss reserve payments i.f Mortgage Insurance coverage (in the amount md for the period that Lencter requires) provided by an ins'tttr, r selected by Lender ag'ah becomes available, Is obtained, and Lender requires separat,Iy designated payments toward the prcm/ums for Mortgage Insarance. ti' Lmder required Mortgage Insurance as a condit/on of mot-lng the Loan and ~rrowcr was rcquir~ to mut~e separately designated pa .yn~.nts .toward the~ prem/ums for Mortgage Instaam:e, Borrower shall pay the premiums requi~ed to m~,nt~,rt Mortgage l~t~ance in effect, or to provide ~s non-refundable loss r~rve, .ungtl requirement for Mortgage In_~rance encku in aeeorclanc~ with any written agr~mcnt between Borrowex and I.,cnder providlnE for such termination or until terrnlr~tion is required b)' Applicable Law. Nothlni in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases thc Note) for certain losses it may incur if Borrower does not repay the Loan as agre~t. Borrower is not a party to the Mortgage lnsunmec. Mortgage insurers evaluate ~dr total risk on all such in,~u-'ance in forc~ from tim~_ tO time. and may cater into agr¢¢n~nts with other parties that sham or nmdif7 their risk, or r~duc¢ losses. Thc,se agre~.n~nts are on u:rms a~td conditions that am satisfactory to the mortgage im~urer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to au~e paym~ts using any source of funds that rite mortgage insurer may have avalhblc (which may inelude funds obtained fa'om Mortgage Insmancc px~miums). As a result of these al~eeaneuts, Lend,r, any purchaser of the Not,, another insurer, any reinsurer, any other entity, or any affillat~ of auy of thc I'oregoing, may receive (directly or indirectly) amo'ums that derive from (or might bc characterized as) a portion of Borrower'S payments £or Mortgage In.,"aranc~, in exchange for sharing or nmdi~ng the n, mrtgagc insurer's risk. or r~lucing losses. 1f tach agreement pmvicks that an aff-tllate of Lender rakes a sb:-~ of the insurer's risk in exchange for a sham of tl~ premiums paid to the insurer, the arrangement is of~n termed ~captive rdnsuran~. ~ Further: (a) Any such agreements will not affect the umouuts that Borrower has agreed to pay I'or Mortgage Insunmce, or an~ other terms ol~ the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (~-6;wY) iooos; I'~.~;s Form 3051 1/01 SOUTHWEST TITLE CO. Fax:l-S07-877-9602 ~an 17 '0,3 12:54 P. 21 407 (b) Any such agreements will not affect the rights Borrower has - if any - with r~spect to the Mortgage Insuranc~ under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance t~rmiaated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time ot such cancellation or termination. 1I. Assignment of M'L~cellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds axe hereby a.~sign~ to and shall be paid to Lender. If the Property is 'damaged, such ML~cellaaeous Proccmts ~all be applied to restoratioa or repair of th~ Property, if thc zcstoratioa or repair is economically f~asible and LoMe~s se-curity is not lessened. During such repaix and .restoration period. Leader shah have the right to l~old Such Misvcllancous Proceeds until Leader ha~ kd aa opportunity to in, peet such Property to ensure the work ha~ bc~a completed to Leader's so,faction, provided that such inspection shall be undertake~ promptly. Lcad~r may pay for the zepair~ ~ restoration in a single disbursement ur ia a series of progress payments as the work is completed. UUle.~.~ an. agreement i~ made ia writing or Applicable Law reciulres interest to I~ ~paid va ~uch Miscellaueous Proceeds, Lender shall not be required to pay Borrower any ir~rest or carmngs on such M/.~cellancou.~ Proceeds. if the xe~toration or repair is not economically ~,tsible or Lender's security would be lessened, tl~ Miscell.aneou.~ ~oceed.n shall be applied to the ~ums secured by this Secxwity whether or not thcs due, wi~ the excess, if say, paid to Borrower. Such Miscellaneous Proceeds .~hall be applied in thc order provided for ia Sec~on 2. in the event of a total takiug, destruction, or los~ ia value of thc Property, the Miscellaneous Proceeds shall, be applied to thc ~ securcd by this Security lastrumcat, w~ther or not then due, with the cxce,~s, if any, paid to Borrower. ia fl~e event of a partial taking, de.qtruction, or loss ia value of the Propo'ty in which thc ~air n~trket value of th~ Property ~-~-~ediatcly before the partial taking, dest~ctioa, or loss ia value is equal to or greatez than the amount of the ~ms securecl by this Security instrument immediately before th~ partial taidag, d~smtctioa, or loss in value, unless Borrowcc and Lender otherwize agr~ in vaitiag, the sturas .~gured by th~ Security Instrumont shall be reduced by the amount of th: Misc~llaa¢ous Proceeds m-ltiplied by thc ~ollowiag ~action: (a) tl1¢ total amnum of the ax~m~ secured inamediately befox~ the portia] Utkiag, d~truction, or loss ia value divided by Co) the fair maxi:et value of the Property immediately before the partial taking, destruction, or loss ia value. Any balance shall be paid to Borrower. In the event of a partial ~a~-~-g, destruction, or loss ia value of the PrOl~rty ia which the fair market va]ua of the Property immediately before the patrol t~t-ing, desmaction, or loss in value is less fh.~, the a,--unt Of ~ ~mS secured ]mm,6iately befor~ the partial taking, destruction, o~ lo~ ia value, 'unle~.x Borrower and Leader o~envise agree ia writiag, tl~ Miscellaneous Proceeds shal/be aFplied to the .~ums sccuxed by tl~ Security Instrument whether or not the sums are then due. If tl~ Property is abandoned by Borrower, or if, after notice by Ltmder to Borrower that the Opposing Party (as defined ia the next s~tence) offe~ to make an award to settle a claim fox damages. Borrower fa/Is to re. zpond to Lenc~r within 30 days alter the dam thc notico is give, Leader is authorixed to coi]~-t and apply thc Misceliar~c'ou~ Proceeds either to rcstoratioa or repair of the Property or to the sums secured by tl~ $c~rity Imtrument, whether ox not the~ due. "Opposing Party" mcan~ thc ttLird party tl~at owes Borrower Misc¢ 'llaneous Proceeds or ~¢ party against whom Borrower ha~ a right of action in regard to Mi.~ccllan¢ous Pro¢cw.6.~. Borrower shall be in default if any action or proceeding, whether civil or 6'rjminnl, i~ begun that, ia Lender's judgment, could re~'ult ia forf=itur¢ of the P~pcrty or other material impairment of int~re.~t in the Prope.~ty or figb. tz under this S~'urity Instrument. Borrower can cure such a default and, if acc¢l~atio- has occurred, rei~tate as provided in Sectioa 19, by causing the action or proceediag to dis-~;-~sed with a ruling that. ia Lender's judgmcat, p~ecl.udw forfeiture of thc Property or other matcnial impairment of LeMez's interest ia the Property or riglzts under t3~ Secm-ity Instrument. The proceeds of any award or clzim for damages that axe attributable to the impai_,'m~.t of Leader's inter~ in t~e Property arc hrreby as~gned and shall be paid to lender. All Mi,~ce 'llaneou~ Procee~ that are not applied to restoration or r~air of the ?~operty .~hall bc appli.¢d in the order provided for ia Section 2. (~e-6(WY) (ooo~ ~=~. ~ o~' '~G Form 3051 1/01 SOUTHBEST TITLE CO. Fax: i-$07-877-9002 5an 17 '05 12:55 P. 22 408 12. Borrower NOt Released; Forbearance By Lender Not a Waiver. Extension of thc th~ for payment or modification of araortizadon of thc ~mg se. cured by this Sccurity lnsmnnent gr'anmd by Lender to Borrower or any Successor in Interest of Borrower shall not operate £o rcle, ase the liability of Borrower or any Successors in Interest of Borrower. Lendr. r s 'hall not be requir,xl m corona-nee proceedings against ~y Successor in Interest of Borrower or to refuse to exten~ tim~ for paymmt or ottm'wi~ modiI'y araortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in In. terest of Borrower. Any torb~wance by Lender in ~xercising any right or remedy including, without limitation, Lender's acc~tance of payments fi.om third persom, enti~s or Successors ia Interest of Borrower or in amounts less than the amount then due, ,h~!l not be a waiver of or preclude the cxcrcis~ of any fight or tcm~dy. 13. Joint and Several LiaMlity; Co-slgaer~; Successors and Assigns Bound. Borr°wer covenants and agrees that Borrower's obligations and liability stnll be joim and .~cvcr~_ However, any Borrower who cosigns this Security Instmm~t but does not execute the Note (~ "co-signer"): (a) is co-si~i-~, this Security Immanent only to mortgage, ~,want and convey th~ co-signer's interest in the Propertyrund~r thc terms of this Security Insmmw. m; (b) is not personally ol~llgated to pay the roms secured by this Security Instrument: anti (c) agrees that Lender aud any otlmr Borrower can agree to extend, mod/fy, tbrbmr or ~rnt-~. any accomm~ 'dations with regard to the terms of this Security ln.mument or thc Note without tt~ co-signer's consrmt. Subject to thr provisions or' Section 18, any Successor in Interest of Borrowcr who as.~xtmes Borrower's obligations 'under this Security lnsaxunent in writing, and is approved by Lrnd~r, shall obtain · all of Borrower's rigl~ and benefits ~nder this Security Instrument. Borrower sh'~ not bc released from Borrower's obligations and liability under this Security Instrument unless ~ agrcc~ to such rclr'a.~ iii writing. TM covc~u~nts and agreements o/: this Security lnsWam~nt ~h.,tI bind (except as provided in Section 20) and benefit thc suocessors and zss/tms of Lender. 14. Loan Charges. Ixnd~r may charge Borrower fees for service~ p~*forn~i in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and fights under this Security Instrument, including, but not li,~ted to, attorneys' fees, property itu~pection and valuation fees. In regard to any other fees, the absenoc of cxprt, ss ~uthority iu this Security Instrument to charge a spt. cific t~e to ~rrower slmll not b, constm~ as a prohibition on the char~,~ of such l~. Lender may not fees that are expressly prohibited hy this $~an-ity lmtxun~nt or by Applicable Law. If the Loan i.s ~ubject tn a law which sets maximum loan charges, and t~t law is fir~,y interpreted so that the interest or other loan charges coll~-cted or to be collected in connection with the Loan exceed the Ixa'n~tt~ tlr, its, then: (a) any such loan charg~ .~h~, bc reduced by thc amount necessary ~o reduce the charge to the p~rmitted limit; 'and (b) any mxms ',already collecmd from Borrower which exceeded permitted Hmks will be refunded to Borrower. Lender may choose to m.~k¢ this refund by r~uclng thc principal owed under thc Not~ or by making a direct paym~t ~o Borrower. If a refima rexluccs prin~pal, th~ reduction will bc treated as a part/al prepayment without any prepayment charge (wl~;ther or not a prepayna~nt charg~ is provided for 'under thc Note). Borrower's acceptance of any .,'uch refund madr by direct payment to Borrower will constitut~ a waiver of any right of action Borrower might have ari~q, ng oat of such overcharge. 15. Notices. All notices giv~ by Borrower or L~dcr in connection with this Secretly Instrum~at must be in writing. Any notice to Borrower in councction wifl~ r/tis S~curity Instmmem shall be deemed to have been given to Borrower when -,~iled by first class rr~it or wla~n actually delivered to Borro~,cr's notice address if sent by otlmr m~ns. Not. icc to any one Borrower .~hatl consdtum notice to all Borrowers unless Applicable Law expressly requires otherwise. Tim nofic~ addrcss shall be thc Property Address unless Borrower has de.'dgnated a mbstitute notice addr~s by notice to I.~nd~r. Borrower shall promptly notify Lender ot Borrower'_~ change of address. If I.~va,-r specifies a procedm,/or reporting Borrower's chang~ of acldtcss, th~n Borrower ~h~ only report a ,~h~-gC of addrcs.~ through that specified procccLurc. Them may be only one dcsigmt~ notice address unaet ttris Security Insm~cna ~t any onr time. Any notice to Lender shall be given by delivering it or by m,~i,g it by ftr~ class mall to I.~nder's address stated herein unles,~ Lender has drsignat, d another address by nofce to Borrows. Any notice in connection with this Security Instrmncnt Shall not be ~¢mcd to have been given to Lender until aclu',ally received by Lender. If any notice required by this $cc'urity Instrument is also required under Applicable Law, the Applicable Law rcquireanent will ~tisfy thc corr~'ponding requirement under this S~curity lnsmnncm. (~-6(WY) (ooo~ P,oo 1o ~ ~ Form 3051 1/01 SOUTHWEST TITLE CO. Fax:l-S07-877-9602 Jan 17 '05 12:56 P. 25 16. Governing Law; SeverabiHty; Rul~s of Construction. Th/s Secur/ty Instrument ~nll be governed by federal law and the law of the ju-dsdiction in which the Property is located. Ail rights and obligations communed ~n ~hiS S~cufity lnsmm~ent ar~ subject to any requirements 'and llrnlt, atio~ Of Al~:~.licable Law. Applicable Law might explicitly or implicitty allow th~ paxties to agree by contract or it ~ft be silent, bul .~z:h dlen~ ~all ~t b~ coIIY~C~ ~ a prohibition agai-st ag~eem~t by coruract. In evm.t iht any providon or chu,se of tiffs Security Instrummt or the Note coxdlicts with Applicable Law, such eon/lict shall not a.ff~ct other Provizion~ of thi.~ Security Instrument or the Note which can be given effect without the conRictiag provision. A.~ used in this Secuxity I. nstnmm~: (a) words of the masculine gender .~h~, mean and includv corre.~'ponding.neuter words or words of the feminin~ g~lcr; (b) words in the ~'ing~lm- shall mean and include the plural and vice ver.~; and (c) the word 'may" 1,4ves sole di.~cre~on without ~ny obligation to mk¢ any action. 17. Borrower's Copy. Borrower sl~ll be giv~ one copy of th~ Note and of this Security Instrument. 18. Transfer of the Property or a Ben~clal Interest in Borrower. As used in this Section I8, "]~xt in the Property" means any legal or beneficial intorest in the Propcn'y, including, but not limited to, thos~ b~eficial interests tnm.~ferred in a bond for deed, contract for &se.d, installment sales contract or escrow a/l'ecment, the intent of which is the transfer of tide by Borrower at a fatu~ date to a purchaser. If 'all or any part of the Property or any Interest in the Property is sold or traozfc'rred (or if Borrower is not a natural person and a ben¢fichl intere~ in Borrower is sold or tran.s'ferrcd) without Lcnd~'s prior written coment, Lender may reqruirc immediate payment in fifll of all sams .~'~cured by this Security Instnunent. However, tlfis option shah not be exerci,w.d by Lender if such exe~'ise is prohibited by Applicable Law. If L=ad~ cx~rcises this option, Lender s~ give Borrower notice of acceleration. Th~ notice pmvid~ a period of not less th~n 30 days from tl~ date thc notice is given in acc~r 'efface with Section 15 within wlfich Borrower must pay aH sums s~c'tued by this Secuxity Instrumexa. If Borrower fails to pay tl~se .~tms prior to the expiration of ~ period, Lender may invoke any rm,-dies permitted by this Security ~ent without further notice or dcm=,rl On Borrower. 19, Borrower's Right to Rels~sat~ Alter Accderaflon. Iff Borrowc~ meets cm~aln Borrow~ ~h:dl have the right to have enfo~cc'ro~ of this Security Izstrum~'nt discontinued at any time prior to the ~arliest of: (a) five (hys be. fore sale of thc Property pursuant to any power of sale conmlned in ~ Security Instnm~e:tlt; Co) such other period as Applicable Law aright spo;'i~ for tl~ termination of Borrower's right to reinstate; or (c) e~ of a judgment em~orcing this Security Instrument. condi/iom~ ar~ that Borrower: (a) pays Lender 'all surn~ which then would be du~ under this Security I~strumeat and the Note as if no acceleration ~ occurred; (b) crates ~y clehul~ of any other covcuant.x or agreements; (c) pays all expemscs incurred in enforcing tlfis Security Instrument, including, but ~t to, reasonable attonu:ys' fees, property infect/on and valuation fees, and other fe~ incurred for purpose of protecting l.~mder's imerest in the Property and right.~ under thi.~ Security Inst~ment; and (d) tak~ such action as Lender may reasonably require to as.~'m'e that Lender's intere.~t in the Property and riflers under this Security kl.~TUme, m, and Borrower's obligation to pay the stum secured by this Security Ix~trument, shall continue unc~ng~. Lender may rcquixc that Borrower pay such reinstatement sums and expenses in one or more of the following forms, :,.~ selected by l.~adcr: (a) ca.~h; (b) money order; (c) certi/ied check, bank check, trea.m~'er~s ~ ox cashier's check, p~ovided any ~ch dt~ck is drawn upon an institution whose deposit~ are intuited by a federal agency, ins'mmen~-.~Hty or crusty; or (d) Hlectronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrvrnent ',tnt obligations se. cured hereby sh~]l rcm:~in fillly Cf~C~Ve aS if nO acceleration had occurred. However, this right to relnstatc shall not apply ~ the cas~ of accelm-'ation under Section 18. 20. Sale of Note;, Change of Loan Servicer; Notice of Grievance. The Note or a partial intm~'t in the Note (togCh~r with this Security Instrument) cart be sold one or more tinu:s without prior notice to Borrower. A sale might result in a change in the entity (known ss th: "Loan Serv/~r") that collects Periodic Payn:umts due uncte, r thc Note and this Security Insw~me-t and perforn~ other mortgage Io~. servicing obligations unaer ~¢ Note, this Security Insu-amm. tt. and Applic~le Law. There also might bc one or more changes of the Lom~ S~-v/cer um-~lated m a sale 0f the Note. If then) is a chang~ of the Loa~ ,%triter, Borrower will be givc~ va-itt, e-, notice of thc change wkich will state the r~m~, and address of the new L0~ Serv/cer, the addre~ to wh/ch payments should be made and any other inlorm~tion RP-SPA {WV'~ ~ooo~ ~* ~ ~ 1~ Form 3051 1/01 SOUTHWEST TITLE CO. Fax: 1-307-877-9602 17 '03 ~2:56 P. 24 410 requi~s in cormection with a ,'.,,~cc of C,'a~r of/er, d~g. I.f tl~ Note l,~ ~old and tlm'~f~ the Loan/s .~zxviced by a Loan Servicer other than the putch=~r 01~ the Note, tim mortgage loan s~,'icing oblillation.~ to Borrowcr will mm~in with the Loan Servicer or bc t]:aasf~r.~] to a sn~cc~or Loan Servicer and ar~ not assumed by the Note purchaser unless othc_,'wisc provided by thc Note putcha.~cr. Ncithcx Borrower nor Lender may comu~acc, join, or be joined to any judicial action (as either an i~ividual litigant or thc member of a class) that arises from the oth~ party's actions pur~-uant to this Security Im'm~mcnt or that allegeS that the other party 'has breached any provision of. or any duty owed by reason of, this Security Instrument, ..iii such Borrower or Dmder ha.n notified thc other party (with such notice glvcn in compliance with the req~ of Section 15') of such alleged breach arid 'afforded thc other party hereto a reasonable period after thc giving of such notice to take corrective action. If Applicabl~ Law provides a tirm l:m'iod which nrast elapse befor~ certain action can be taken, that time pcrlod will bc deemed to bc reasomble for purposes of th.is paragraph. Thc no6~ of acceleration and opportunity to cure given to Borrower pursuant to .Secdon 22 and thc notice or' acceleration given to Borrower pur.~maut to Section 18 ~,.4! b~ d~cmed to satisfy the notice and opportunity to take corrective action provisiom of this Secdoa 20. 21. Hazardous Substance. As used i. dm Secdon 21: (a) "bT.~a~'dous gabstances" are those subst.~.,-~ dcQrk-d as toxic or hazardous substauccs, pollutants, or wast.m by Falvironmental Law and the following ~bstauces: gasoline, kerosene, other flammable or toxic petrol~zn product.n, toxic pesticides and herbicides, vohdlc solvents, raatcrials co.,:iniug asbestos or tbrmaldehyde, and ndioactiw materials; (b) "Env'konmcntal Law" n~ans federal laws atu:l laws of tl~ jurisdiction where the Property is located that relate to h,-~th, salary or environmental protrction; (c) "Environmental Cleanup" includes any rcspon~e action, r*m,'dial action, or removal action, ~ defined in F. nvironm~ut~l Law; and (d) an "l~nvironmcatal Condition" r~tus a condition that can cause, conUibut~ to, or otherwise trigger an Environmental Cleanup. Borrower ahall not cause or permit the presence, us~, di~osal, storage, or release of any 'Hazardous .~;ubstanccs, or dn'ca~ to release any Hazardous Sub~'tanccs, on or in the Propcn~y. Borrower shall not do, lief ',allow anyone clsc to do, anything affecdag the Property (a) that is in violation of any Environmental Law, CO) which creates an Eavironmcatal CoadiQon, or (c) which, du~ to the presence, use, or rclca~ of a I4a~a~'dous Substaucc, crcatcs a coudiQon that adveaxely atf,.cts th~ value of th~ Propca-ty. Thc preening two sentences ah'all not apply to the presence, ase, or storage on the Property of naalI qu'.m6dc.~ of Hazatdou~ Substances that are g~nerally r~cogni~d to bc appropriate to nom~al ra~de~zl~tl u.~e$ 'and to maintenance of die Property (including, but not limited to, ba.:~rdous substances in consumer products). Borrower ~all promptly give L~ader written notice of (a) any inve.~dgadon, claim, demand, lawsuit or other action by any govern,ncntal or regulatory agency or private party involving thc Pwpcrty and any l-la~'~rdous Substance or Envirom~,~*.l Law of which Borrower ha,~ actual knowledge, Co) any Fmvirourn,mtal Coacli6.on, including but mt li,~ir~l to, any spilling, leaking, discharge, release or threat of release of aay Hazardous Substance, and (c) any condition camo, ed by the prescacc, usc or release of a /gar~rd0US Subst. mcc which adversely affects the value of thc Property. If Borrower Icaras, or is notified by any govemmmtal or regulatory autharky, or any private party, that any removal or otber rcmediation of any Hazaxdous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Eavironmental Law, Nothing harcin shall create any obligation on Leader for an Environmental Ocanup. (~-eiv~rY) to<>o51 ~"~, ~2 =~ ~; Form 3051 1/01 SOUTHWEST TITLE CO. Fax:l-307-877-9602 2an 17 '0.3 12:57 P. 25 411 NON-UNIFORM COVENANTS. Bon'ower and Le~/~r further coverture and ~ as follows: 22. Accelerlfion~ Remedies. Lender shah give notice to Borrower prior to acceleration follow~ug Borrower's breach of any coven/mt or agr~em~,,t in this Security instrument (but not prior to acceleration under Section lit unless Applicable Law provides oth~wise). Thc notice shall spedfy: (a) thc default; (b) the action required to cure the &fault; (c) a date, not l~$ than 30 d~ys from the date the notice is giycu to Borrower, by which the d~ault must be cured; and (dO that Failure to cure the default on or before the date spedfied in the notice may result in acceleration of the sums sucured by this Security lnstrumcut aud sale of the Property. The notice shah further inform Borrower of the fight to rdnstate after acceleration and the right to bring a court action to assert the non-e_~ of a default or ,'my other defcn~ of Borrower to accelerntion and sale. It' the default is not cured on or bdore the date sper. ificd in the notice, Lender at Its option may require immediate payment in full of all Sums secured by this Security Ins~xument without further demand and may invoke the power of bale and any other remedies permitted by Applicable Law, Lender shall be entitled to collect all expenses incurred in pursuing the remedies proytded in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title eyidence. If Leuder invokes the power of sale, Leuder shall give notice of lnhmt to foreclose to Borrower and to the person in possession of the Property, ii' diffurent, in accordance with Applicable Law. Leuder shall ~ve notice of the sale to Borrower in thc manner proylded in Section 15. Lender shah publish the notice of sale, and the Property shall hc sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Prop~'ty at any sale. The proceeds of the sale shall be applied in the following order:. (a) to all ~.x'penses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to ah sums secured by this S~rlty Instrument; and (c) any excess to the person or persons legally enfifled to it. 23. Release. 'Upon payment of all .~uus $ccu.--ud by ~ Securtv/Imtrument, Lender shall release this Security l~strumcnt. Borrower shall pay any recordation costa. Lender may charge Borrower a fcc for l'Clo~ing th.iS ,.qeC~iity lusll'ument, but only i/' the fee is paid to a flLird plu-ty for services rendered and thc charging of the ~c¢ L~ permitted under Applicable Law. 24, Waivers. Borrower releas~ and wa.ive,~ all fiCtt~ under and by xdrtuc of the homestead exemption laws of Wyoming, (~-6IVVY) Ioeo~, Pn~ l~ or ~ Farm :~0~1 1/01 SOUTHWEST TITLE CO. Fax:l-SO?-8??-9602 3an 17 '0~ 12:58 P. 26 BY SIGNING BBLOW, Bon'ow~ accepts ~ a~s to ~ ~ ~ cov~ ~d in ~ ~ity ~)~ ~ ~ ~ ~&r ex~ by Bo~wer and r~orded ~ it. Wi~es: TODD K. Ll/rl~I -B~w= CONNIE LUTHI J -Borrower (seat) (S~) -Bon~wer -Bo~owet (seal) -Borrower -Bonower Form 3051 1/01 SOUTHBEST TZTLE £0. Fax:l-S07-877-9602 ~an 17 '0~ 12:58 P. 27 413 ~rATE OF WYOMING, nxN~OnN Th~ foregoing {ns~num=ut w~ ~wl~ ~o~ ~ ~S 17 th day by TODD K, L~I ~ ~IE LBTaI Couu~ ~; of January, 2003~ My Commi~O~B~M~.~: November 4, 2006 No~ar~ Form 3051 1/01 SOUTHBEST TITLE CO. Fax:l-e07-87?-9602 3an 17 '0,5 12:59 P.~ , A portion of the eW~ 9f Section 14, TB4N RllgW c~ the 6th P.M., Lincoln Coun=~, Wyoming, described aa ~ollows: Aeginnin~ &~ a point on the South line of said Section 14, said po~t bein~ ~0~.1~ fee~ ~ast from the southwest corner of e&i~ Section 14 as Bet by Lloyd ~. Bake= in the road runnin9 West from Thayne Augur= ~1, 1974~ thence North 147.36 feet~ thence N 89~3~09. ~, 1~9.15 feet~ thence Sou~h 148.73 f&e~, =o sai~ Sou=h line of ~aid Section 1{~ th=~¢e West, alon~ las= said South line, 189.1~ ~e~t =o :he poin~ o£ heginnL~9. LESS AND F, XC~PT any lmnd 1yin9 ou~sidm of land contained in Warranty Deed reoorde~;~ril 20. 1992 ~n Book 309PR on pm~e 186 of the =ecor~ of the Lincoln County Clerk. L~S$ AND ~XC~ any land contained in Quitclaim Deed r~cor~ed Auust 20, 1979 in Book 15~P~ on ~ag~ $~$ o~ th~ records of the Lincoln County SOUTHWEST TITLE CO. Fax:l-307-877-9602 ]an 17 '03 12:58 MANUFACTURED HOME RIDER TO THE MORTGAGE/DEED OF TRUIT/$ECURITY DEED This Rkler i,~ made this :~a~l~"Z 17, 300;~ , and W incorporated i~ and ame~= and supplm~ ~e Mo~gage/D~d of True~S~ Deed (the "$ec~ty In~me~') of ~ ~ame date, given by the underli9~ (the "~ower") to s~e BotroweYi NOte ~o (the "Leader") of ~e marne date (the "No~m") and covering ~e Pm~ d~eHbad in the Seouriw Inattu~nt and IocatM at: 350 ROBERTS A~ ~, ~ 83~7 Borrower and Lender agree that the Security Instrument Is amended and supplemented tO read as follows: Tho Property oowred by the Security Ir~tmment (referred to as "Property" in ~he Saourity InStrument) Inolud~, but is net limited tO, the Manufactured Home (Serial Number, if raquir~/ ) affixed To the property legally described in The 8m;urlty Instrument. B. Addldonal Covenants of Borrower I~rroww will oompiy wil~ ell crate and Iooll IlWS and regulations regarding the effixalJon of the Manufactured Home to the property described in the Seourity Instrument including, but not limited to, surrendering t~e Certificate of Title (if required) and obtaining the requisite gvvernmantal approval end aooomganying do0umentaflon neoee.ary to classify the Manufactured Home as reel property under state and local law, The Manufactured Home described above will be, eT all times end foe' purposes, permanently affixed to ~nd pan of ~e prope~y d~eribed in Securky In~t. Affixing the Menufaotured Home to the property ae~cfi~l in t~e Seourlty In.trument doe. n~t yiolate any ~,gnin~ lew~ or other legal reaulremerna applloeble te manufactured homes. N~'L #332,2 03/01 SOUTHWEST TITLE CO, Fax:l-SO?-8??-9602 Jan 17 '03 12:59 P. 29 4!6 By signing below, Borrower acoepts and agrees to the tefr~ and ~vanerna ~en~ined in thie Manufamured Home Rider. (~al) ,. .... · (Sell) ,. -- (.5~) )ss. COUntrY O~ r'I~[L"OT'aq' I, the un~iersigned Notary Public, in and ?or We eforelald $~ate and County, do hereby cer:ify Borrower(a), p~re~nml~y appeared before ma in eeld ~ounty end ~knowledged ~e w~n in~mment m ~ their e~ and deed. Given u~der my hand and aeal ~ls 17~ day of My oommlesion expires: ~ ~ ~.~ ~ ~Q Na~ry ~bliC ~