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HomeMy WebLinkAbout888249Retu:rnTo: WELLS FARGO HOME MORTGAGE, INC. 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, M2N 55435 Prepared By: WELLS FARGO HOME MORTGAGE, INC. LIO01~ C) I. PR 1919 DOUGLAS,, 681010000 OMAHA, NE [Space Alm,,~e 'rids LhJe l".r Rec.rdh~g MORTGAGE DEF.INITIONS Words used in nmltiple sections of dlis documem are defined below and odmr words are defined iii Sections 3, 11, 13, 18, 20 and 21. Certain niles regard ng the usage of words used in this docmnent are also ·provided in Section, ] 6. (A) "Security Instrument" utea~ts dfis document, which is datedMARCI{ 03. 2003 together w:ith till Riders to this document. (B) "Borrower" is DON R ~DERSON ~ DA~ M A~ERSON, HUSB~D ~ WIFE Borrower is the [].lOl'[gagor ulldcr this ~ccurity J. nstn~mel]t. (C) "Lender" is WELLS FARGO HOME blORTGAGE, INC. Lender is a CORPORATION organized and existing under the laws o:f THE STATE OF CALIFORNIA 0020140299 WYOMING~Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fag,: 1 of ! 5 ~nit~a!~: VMP MORTGAOE FORMS - (800~521-7291 Form 3051 1tO1 Lender's address is P.O. BOX 1121304, DES MOINES, IA 50'1060304 423 Lende:r is file mortgagee under this Security Instrument. (D) "Note" means the promisso~, note signed by Borrower and dated ~RCH 03, 2003 The Note states fllat: Borrower owes Lender glGHTY NINg THOUS~ FOUR H~RED ~ND 00 / 100 Dollars (U.S. $ ** * ~ * 89,400.00 ) plus interest. Borrower has pronfised to pay this debt in regular Periodic Payments and to pay tim debt in fiHl not later than APRIL 01, 2018 (E) "Property" means the property that is described below under file heading "Trans~br nf Rights in the Property (b) "Loan" means thc debt evidenced by the Note, plus imerest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, phis interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The Riders are to be executed by Borrower. [check box as applicablel: {--~ Adjustable R'tte Rider ~ Rider ~ Second Home Rider r~ ~?h;o:, Ride: ~.PlannedU,~tDevelopmentRide,-~ 1-4 Family Rider ['~ ~ A Ri~er Biweekly Payment ~der , Other(s) specit}(I (H) "Applical~le Law" means all controlling applicable federal, state and local statutes, regulations, ordi~mnces and administrative roles and orde:rs (that bare the effect of law) as well as all applicable lh~l. non-appealable judicial opinions. (l) "Commtmity Associntion Dues, Fees, and Assessments" means all dues. l;ccs, assessments and other charges that are imposed on Borrower or the Property by a condouiinium associatitm, homeowners association or similar organization. (J) "Electronic Funds Transient" means any transter of fimds, other fllan a transaction n:rigimtcd by check, draa. (,r similar paper inst~.ment~ which is initiated through an electronic termimd, telephonic instrument, computer, or magnetic tape so as to order, instn~ct, or authorize a financial instimtkm to debit or credit an ~tccount. Sucll term includes, but is not limited to, poi:m-of-sale transfers, autonmted teller machine transactions, transfers initiated by tele:pht:ne, wire t:m~mfcrs, and automated clearinghouse (K) "Escrow Items" means dmse itenu flint are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of dan~ues, or proceeds paid . by any third party (off,er than insu,a~me proceeds paid under the cnverages describe~in Section 5) fi,r: (i) danmge m, or destruction of, the Prope:rty; (ii) condemnation or off,er takine of all or any part of the Property; (iii) conveyance in lieu of condemnatiou: or [iv) misrepresentations~)f, or omissions as to, thc value m~d/or condition of the Property. (M) "Mortgage Insurance" meaus insurance protecting Lender against the nonpayment of, or dethuh on, the Loan. {N) "Periodic Pa) menl" means fl~e regularly scheduled amount due fi)r (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" meagre fl~e Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as fl~ey might be amended f;rom time to ti~ne~ or ally additional or successor legislatilm or regulation flint governs the same subject nmtte:r. A.s used in this Security hmtmmenL "RESPA" mi)rs to all requirements and resuSctim~s that are imposed in rceard to a "l~derally related mortgage loa~" eve~ if the Loan does not qualil}~ as a "l)dcrallv related mortgage loan" under RESPA. - 6{WY) {o,3os~ ~',~ 2 er *s Form 3051 1/01 (P) "Successor in Interest ol? Borrower" means any party that has token title to the Property, whetller or llot that party has assumed Borl(m. ers obligations under the Note and/or this Security hmtrument. TRANSFER OF RIGHTS liN THE PROPERTY This Security lnstmn~ent secu:res m Lender: (ii) tile repaymeut of tile Loan, and all renewals, exteusim~s and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security lustmme,t and the Note. For dfis purpose, Borrower does hereby mortgage, grant and convey m Lender and Lender's successm's and assigns, wilh power of sale, the fifllowing described property located in the COLrNTY of LINCOLN : IType of Recording Jurisdictkml [Name of Recording Jurisdiction] LOT 25 OF THE EUBANK FOOTHILL ESTATES SUBDIVISION, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL THEREOF. TAX STATEMENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, INC., P.O. BOX 10304, DES MOINES, IA 503060304 Parcel ID Number: 211 FOOTHILL DRIVE LABARGE ( . roperty Address .): which currently has flze address [Street} ICily} , Wyoming 8 312 3 IZip Codcl TOGETHER WITH all the improvements now or hereafter erected on file property, aud all easement% appurtenances, and fixtures now or hcreal~er a part of the property. All replacements and additimts shall also be covered by this Security Instrument. All of the Ibregoing is relbned to in Security Instrument as fl~e 'Property.' BORROWER COVENANTS that Bom)wer is lawtBlly seised of tim estate hereby conveyed and has the right to mortgage, grant and convey fl~e Property and that tim Property is unencumbered, except tbr encumbrances of record. Borrower warrants and will defend generally tim title to the Property against all claims and demands, subject to any e:ncumbrances of record. THIS SECURITY INSTRUMENT combines unifi)rm covenankq tbr m, imnd use and non-uuil'orm covenants with limited variatitms by jurisdiction to constitute a unifimn security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as fi)llmvs: 1. Paymen~ of Principal, Intertst, Escrow Hems, Prepayment Charges, and I.ate Charges. Bom)wet shall pay whcu duc thc priucipal or', and iuterest on. fl~e debt evidenced by fl~e Note a,d any prepayment cllarges a~ld late charges due under thc Note. Borrower shall also pay flnlds ti)r Escrow pursuant to Section 3. Payments due under thc Note and tiffs Security tnstmment shall be nude in U.S. currency. However if any check or other i,~strument received by ~Le,:,der asp~under fl,e Note or fltis ~6(wg) iOooS~ v~, ~ o~ ~' Form 3051 1/01 Security Instrument is returned to Lender unpaid, Lender nlay require that any or all subsequent payments due uuder fl~e Note aud this Security Instrument be made in one or mt)re of fl~e fi;filmving l~u'ms, as selected by Lender: (a) cash; (b) money o~der; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, or entity: or (d) Electronic Fuuds Traust'cr. ~Payments are deemed received by Lender when received at tim location designated in fl~e Note or at such {)flier location as may be designated by Lender in accordance wifl~ the notice provisions in Section 15~ Lender nmy return any payment or partial payment if fl~e payment or partial payments are insufficient to bring tim Loan cur:rent. Lender may accept any payment or partial .payment insufficient ti) bring the Loan current, wiflmut waiver of any rights hereunder or prejudice to its rights to reli:se such payment ur partial payments in fl~e tmure, but Lender is not obligated m apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied fimds. Leuder may hold such unapplied hnds until Borrower makes payment to bring the Loan current, If Borrower dc)es not d~ so wiflfin a reaso~mble period or' time, Lender shall either apply such funds or return fliem to B~rmwer. If not applied earlier, such funds will be applied to the outstanding principal balance under fl~e Nt~te immediately prior to fi~rcdosurc. No off, ct or claim which Bormwe. r might have m)w or in file Imure against Lender shall relieve Bom~wer from making payments due under the Note aud this Security lnstmmer~t or pcrtbrming the covenanks and agreements secured by fl:tis Security I~zstrunle~lt. 2. Application o1' Payments ok l'roct~ds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in file following order of priority: (a) interest due under fl~e Note; (b) principal due under thc Note; (c) amounts due under Sectiou. 3. Such payments shall be applied to each Periodic Payment in tl:~e order in which it became due. Any renmining amtmnts shall be applied first to late charges, second to any other amouuts due under this Security lnstmmeut, and then to reduce fl~e priucipal balauce of fl~e Note. if Lender receives a payment from Borrower ft~r a delinquent Periodic Payment which includes a sufficient amount m pay any late charge due, the payment may be applied to the delinquent payment and the lam charge. If more titan one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to fl~e repayment of the Periodic Payments if, and to fl~e exteut that, each paymeut can be paid in t~ll. To file extent flint auy excess exiscs oiler the payment Js applied to the thll payment of one or more Periodic Payments, suc!~ excess nmy be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and fl~.en as &scribed in the Note. Any application of paymenk% i~surance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone tim due date, or change the amount, of the .Peri~)dic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on fl~e day Periodic Paymenks are clue uuder tim Note, until file Note is paid iu t~ll, a sum (the "Funds") to provide tbr payment of amounts due fi~r: (a) taxes and assessments and oflmr items which can attain priority over Otis Security hzstmment as a lien or encumbrance on fl~e Property; (b) leasehold payments or ground rents mt tim Property, if any; (c) premiums fi~r any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premimns, if any, or any sums payable by Borrower to Lender in lieu of tim payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At or:igim~tim~ or at any time during the term of tim Loan, Lender nmy require flint Community Assr)clarion Dues, flees, and Assessments, il: any, be escrowed by Borrower, and such dues. l~es and assessments shall be an Escrow ltem. Borrower shall promptly fi~rnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds fi~r Escrow hems uuless Lender waives Bom~wer's obligation to pay the Funds fi)r any or alt Escrow hems. Lender may waive Borrower's obligation to pay m Lender Funds fi~r any or all Escrow Items at any time. Any such waiver may only be in writing~ In the event of such waiver, Borrower shall pay directly, when and where payable, Ole amtmnts due for any iEscrow Items 'tbr which ipayment of! Funds has been waived by ~Lender and, if Lender requires, shall funfish to Lender receipts evidencing such payment wiflfin such time period as Lender may require. Borrower's obligation to nu~ke such payments and to provide r~eipts shall fi~r all pu~oscs be ~eemed to be a covenant and agreement contained in fllis Security l~kstrument, as the phrase 'cove~mnt and agreement" is used. in Section 9, If Borrower is obligated to pay Escrow Itenzs directly, pursuant to a waiver, and Bo:rrowe:r fifils ~o pay the amount due t~r an Escn)w Item, Lender o~y exercise its rights under Section 9 and pay such amount and Borrower shall flien be obligated under Section 9 to repay t{~ Lender any such amount. ~Lende:r nmy revoke fl~e waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, fl~at are then required under tiffs Section 3. .~nder may, at a:ny time, collect and hold Funds in an amount (a) sufficient to permit Lender t. apply the Funds at the time spcc:ified under RESPA, and (b) not to exceed fl~e maximum amount a lender can ~equire under RESPA. Lender shall esl:illmte file amount of Funds due on fl~e basis of current data and :rcast,:mble estinu~tes of expenditures of filture Escrow Items or othe~vise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a f~cleral agency, ittstrumentality, or entity (including Lender, if Lender is an institutiot~ whose deposits are so. insured) or in any Federal Home Loan Bank:. Lender shall apply fl~e Funds to pay the Escrow Items no later'than tl~c time specified under RESPA, Lender shall not charge Borrower for holding and applying fl~e Funds, aonually analyzing the escrow account, or ve:ri$4ng fl~e Escrow Items. u~fless Leoder pays Borrower interest on tb~ Funds aud Applicable Law permits Lender to make such a charge. Unless au agreement is made in writing or Applicable Law requires interest to be paid on fl~e Funds, Lender shall not be required tn pay Borrower any iuterest or earnings on fl~e Ft~IIds. Borrower and Lender can agree in writing, however, fl~at interest shall be paid on rite Funds. Lender sbatl give to Borrower, without charge, an annnal accounting of the Funds as required by RESPA. If fllere is a surplus of Ftmds held in escrow, as defined under RESPA, Lender shall account to Borrower lbr the excess funds in accordance wifl~ R. ESPA~ If thc.re is a shortaue of Funds held in escrow, as defined under RESPA, Lender shall noti.t3, B{~rrowcr as required by RESPa, and Borfi~wer shall pay to Lender fl~e amount necessary to ri:rake up the shortage in accordance with RESPA, but in no more tha~ 12 monflfly payments. If fliere is a deficiency of Funds held in escrow, as dcfiucd under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount nccessaD~ to make up the deficiency i.n accordance wifll RESPA, but in no more fllan 12 mondfl~y payments. Upon payment in lhll of all sums secured by tiffs Security Instpament, Lender shall promptly refund to Bor:rower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all u~xes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground :rents on thc Property, ifa.ny, and Commu~fity Association Dues, Fees, and Assessments, il' any. To fl~e extent that these items are Escrow ltems, Borrower shall pay them in fl~e manner provided in Secti,n 3. Borrower shall prompdy discharge any lien which has priority over this Security lustrument unless Borrower: (a) agrees in writing to the payment of file obligation secured by thc lien in a manner acceptable to Lender, but only so Ioog as Borrower is pertbrming such agreement; (b) contests thc lien in uood 15dth by, or defends against cnti~rccmcnt of the lieo in, legal proceedings which in Lender's upinion ~q~erate to prevent the enlbrcement of fl:e lieu while those proceedings are pending, but only until such proceedings are concluded; or (c) secures I?Olll the h~flder of thc lien an agreement satisfactoD, to Lender subordi~u~ting the lien t0 this Securhy h:~strument. If Lender determines fl~at any part of fl~e Property is subject to a lien which can attain priority over tiffs Security hLstmment, Lender n~y give Borrower a or,rice identil3'iug the Form 3051 1i01 lien. Witlfiu 10 (lays of tile date on which that notice is given, Borrower shall satisl}, the lien or take one or more of dm actions set fi)~h above in Otis Secdon 4. Lender may require Bor:rower to pay a one-time charge fi)r a real estate tax verification and/or reporting service used by Lender in ctmnecfion wifl~ tiffs Loan. 5. Property Insurance. Bom)wer shall ~keep fl~e improvements m)w existing t~r hereafter erected on the Property insured against loss by fire, hazards included wiflfiu fl~e term "extended coverage," and any other ha~:rds inch~ding, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance Shall be nmiutained in fl~e amounts (including deductible levels) and fi'~r the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing thc insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in. cmmection with Otis Loan. eifl~er: (a) a one-time charge-filr flood zone determination, certification and tracking services; or (b) a one-dine charge fi)r flood zooc determination and certification services and subsequent charges each time reuu~ppings or similar changes occur which reasonably might afIkct such determination or certification. Borrower shall also be respo~k4ble tbr fl~e payment of any lkes imposed by the Federal Emergency Ma~ugement Agency iu connection with the :review of any flood zone determination resulting [rom an objection by Borrower. lF Borrower ~hi.ls to maintain any of the coverages described above, Lender may ~btain insurance coverage, at Lender's optkm and Borrower's expe~tse, Lender is under no obligatim~ m purchase any particular type or amtmut of coverage. The:reft}re, such coverage shall cover Lender, but might or miuht not protect Borrower, Borrower's equity in fl~e Property, or the contents of O~e Property, agai~tst any ri~k. hazm:d or liab:ility and might provide greater or lesser coverage fl~an was previously in eftbct. Borrower acknowledges that it~e cost or' the insurance coverage so obtained might significandy exceed the cost of insurance flu~t Borrower could bare obtained. Any an~ounts disbursed by Lender under tiffs Section 5 shall bec~mm additio:[ml debt of Borrower secured by this Security Instrument. These aumunts shall bear interest at fl~e Note rate ~kom. the date of disbursement and shall be payable, wifl~ such interest, upon nodce fi'mn Lender to Borrower requesting paynmnt. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall .promptly give to Lender all receipts of paid premiums and reuewat notices. Il' Borrower obtai~tq any tbrm o[ i~t~ura:nce coverage, not otherwise required by Lender, tbr dau~ge m, or destructkm oF, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as au addititmai toss payee~ In the event o1~ h~ss, Bm'rower shall give prompt notice to the ittsurance carrier and Lender. Lender may make proof of It)ss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not fl~e underlying insurance was required by Lender, shall be applied to restoration or repair of fl~e Property, if fl~e restoration or repair is ecmmmically ~asible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure fl~e work has been completed to Lender's satisfaction, provided that such inspection shall be uodertaken promptly, Lender may disburse proceeds fi)r the repairs and restoration in a single payment or in a series of progress payments ;ks the work is completed. Unless au agreement is nu~de in writing or Applicable ~Law requires interest to be paid on such insurance proceeds. Lender shall not be required to pay Borrower any interest or eartfings on such proceeds. Fees fin' public adjusters, or off,er flfird parties, retained by Borrower shall not be paid out of fl~e insurance proceeds and shall be fl~e sole obligation of Borrower. If flw restoration or :repair is not econmnically lkasible or Lender's security would be lessened, fl~e insurance proceeds shall be applied to fl~c sums secured by this Security Instrument, whefl~er or not then due. with 6(WY) (ooosl F,~.~. ~s of '~s ~ Form 30,51 1/01 the excess, if any, paid to Bo,'rowe:r. Snch insnrance proceeds sbail be applied in fl~e order provided lbr Section 2. If ~Borrower abandons d~e Property, Lender nuy file, negotiate and settle any available i~rsurance claim and related nmtters. [f Borrower does not respond widfin 30 days [o a notice fi'om Lender that fi~e i~L~u:rance carrier has offered to settle a claim, dzcn Lender nmy negotiate and settle file claim. The 30-day period will begin when dte notice is given. In either event, or if Lm~der acquires the Property trader Seci:ion 22 m: od~erwise, Borrower hereby assigns to Lender (a) Bor~'owcr's riehts to a.m' insurance proceeds in an amount not to exceed fl~e amounts Unl)aid under the Note or aris S~urity lnst~unmnt, and (b) any oilier of Borrower's righis (off,er than fl~e right to any rclbad of unearned 1)remiun~ paid by Borrowe0 under all insurance policies cavering thc Pr~perty, insofar as such rights are applicable to coverage of die Property. Lender n~y use d~e insurance proceeds eiflmr m repair or restore fl~e Pmpcay to pay amounts unpaid under fl~e Note or tiffs Security Instrument, whether or not fl~en due. 6. Occupancy. Borrower shall 9ccupy, esiablisb, and use fl~e Property its Borrower's principal residence wiflfin 60 days after thc execution of this Security hks[rument and shall cm~hnn= to occupy the Property as Borrower's principal residence Ibr at leas[ one year :trier rite date of occupancy, unless Lender oiherwisc agrees in writing, which consent sMll not be um'casmmbly widdmld, or unless extenuating circunmtances exist which are beyand Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Bnrrower shall desl:roy, damage or impair fl~e Property, alh)w flte Pr()pcrty to deteriorate or commit waste (m the Property, Whether or not Bonmver is residing in fl~e Property, Bm-rower shall nmintaia rite Property in order to prevent the Property ffmn dewriorating m- decreasing in value due to its condition. [Jlll¢ss it is deternfined pursuant: it) Section 5 fl~at repair or :restm'atim~ is ~u)t cconmnically feasible, Borrower shall promptly repair the Property if danmged to avoid l'm'fl~cr deterioration or damage. If i~rqurance or condemnation proceeds are paid in connection Mdt dan~ge to, or fl~e [aking ()f, fl~e Property, Bom)wet shall be rcspansible lbr repairing or restoring fl~e Property only if Lender has released proceeds for such purposes. Lender nmy disburse proceeds for the repairs and restoration ia a single payment or in a series t)mgress payments as fl~e work is completed. If the insurance or condem~'~6on proceeds arc not sufficient to repair or restore fl~e Property, Borrower is not relieved of BmTower's obligation for fl~c cmnpletkm such repair or restoration. Lender or its agent may nmke reasonable entries upon and inspections {d~ fl~c Pr~)perty. If it has reasmmble cause, Lender nmy inspect thc interim- of the improvements t)~l file Property. Lender shall give Bom)wet notice at fl~e time of or prior to such an interim' inspectkm specifying such reasmmblc cause. 8. Borrower's Loan Aplflication. Bom)wer shall be in default if, durine flw Loan applicatkm process, Borrower or any pm'sons or entities acting at the direction of Borrox~Ter or wifl~ Borrower's knowledge or cmtqem gave nmlerially false, mislcading, or inaccurate iaRmnadm~ or statemems u) Lender (or thilcd m provide Lender wifl~ material inlbnnation) in ccmnecfion with fl~c Loan. Material representations include, but arc nt~t limited to, rcpresentafimrq ctmceming Borrower's occupancy of thc Property as Borrower's principal residence. 9. Protection of Lender'~ lmer~t in the Properly and Righ~ Under this Security lnslrument. [f (a) Borrower 'Ihils m peril)tm fl~e cnvc~nts and agreements contained in tiffs Security hmt[mnent, (b) there is a legal proceeding fl~at might significantly afl, ct Lender's interest in fl~c Property and/ar rights trader this Security lnsmm~em (such as a proceeding in bankruptcy, probate~ ibr condemnation or fi:)rfciture, enfi)rcemcm of a lien which nmy attain priority over fi:tis Security I'nstrmnent or to enfi)rce laws reguladm[9, or (C) Bt)rrower has abandoned fl~e lh-operty, fl~en Lender nmy do and pay fin' whatever reasonable or appropriat:e to protect Lender's imeresr in the Property and rights under Offs Security h'tstmmcnt, including protecting arid/or assessing the value of the Property, and securing and/or repairing tim Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has primi[y over this Security Instrument; (b) appearing in ctmrt; :md (c) paying ~;6(WY) ~o:oosl ~*~ ~ o* is ~- Form ao5i 1101 attorneys' fees to protect its interest in tile Prope:rty and/or rights under tiffs Security Instrument, including its secured position in a bankruptcy pn)ceeding. Securing the Property includes, but is not linfited entering fl~e Property to nuke repairs, change locks, replace or board up doors aud windows, drain water fi'om pipes, eliminate building or other code violado~m or dangerous conditions, and have utilities turned on or off. Alflmugh Lender may take action under this Section 9, Lender docs not have to do so and is not under any duty or obligation to do so, It is agreed fl~at ~ndcr incurs no liability fl~r not Ut~ng any or all actions aufl~ori~d under Offs Section 9. Any amounkq disbursed by Lender under this Section 9 shall become additimml debt of Borrower secured by Offs Security hzstmment, These amounts shall bear interest at tim Note rate from thc date of disbursement and shall be payable, with such imercst, upon notice from Lender to Borrower requesting ;paymem. If this Security Instrument is o:n a leasehold, Borrower shall comply wifl~ all the provisions of the lease. If Borrower acquires lke title to the Pruperty, fl~e leasehold and fl~e t~e title shall not merge unless Lender agrees to the merger writing. 10, Mortgage insurance, If Lender reqnired Mortgage Insurance as a condition of making the Loan, Borrower shall pay the prenfiums required to nmintaiu fl~e Mortgage hksurance in elliot, lf, fi)r any reason, the Mo:rtgage lnsurauce coverage required by Lender ceases to be available from the mortgage in~urer that previously provided such i~ksurauce and BOrrower was required to nmke separately desig~mted payments toward the premiums lb:r Mortgage h~surance, Bonower shall pay tim premiums required to obtain coverage substantially equivalent to fl~e Mortgage Insurance previously in effect, at a cost substantially equi. valem to the cost to Borrower of the Mortgage Insurance previously in efikct, l~om an altenutte mortgage insurer selected by lmnder. If substantially equivalent Mortgage Insurance coverage is not ;~vailable, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect, kcnder will accept, use and retain these payments as a ntm-rethndable loss reserve in lieu of Mnrtgage Insurance. Such loss reserve shall be non-:relhndable, notwifl~stauding fl:~e lktct that fl~e Loan is uhinmtcly paid in flfll, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments ii Mortgage h~surance coverage (in fl~e amount and tbr the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and lmndcr requires separately designated payments toward fl~e premiums tbr Mortgage hkqurance. If Lender required Mortgage lusurance as a condition tff making the Loan and Borruwer was required to make separately dcsig~mted payments toward the premiums tbr Mortgage l'nsurance, Borrower shall pay the premiums required maintain Mortgage Insurance in etfkct, or to provide a non-refimdable loss reserve, until Le:uder's requirement for Mortgage [l~qurallc:e el~ds ill accordance with any written agreement between Borrower and Lender providing lbr such termi~mtion or until termi~ntim~ is required by Applicable Law. Nothing :in this Section 10 affects Borrower's obligation to pay )nrc[cst at thc rate provided in the Note. Mortgage Insurance reimburses Leude:r (or any endtv that purchases tim Note) lbr certain losses it may incur if Borrower does not repay the Loau as agreed. Borrower is not a party to the Mort:gage lnsurance~ Mortgage insurers evaluate their total risk on all such iusurance in fi~rcc lmm time to time, and enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on t:erms and co~ditious that are satislktctow to the mortgage flksurcr and fl~e oflmr party (or parties) to these agreenlents. These agr~Clll~nts may reqtfire the mortgage i~tsurer to nuke payments using any source of fimds dlat tim mortgage insurer may have avaik~Dle (which nmy include lhnds obtained l?om NYlortgagc Insurance premiums). As a result of these agreements, Lender, any purchaser of tim Note, an~ther insurer, any reinsurer, any off, er entity, or any affiliate of auy of the/bregoing, nny receive (directly ~r indirectly) amounts that derive [rom (or might be characterized as) a portion of Borrower's payment~ ~br Mortgage lusurance, exchange for sharing or modi~4ng fl:~e mortgage i~ksurer's risk, or reducing losses, ff such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange tbr a share of the premiums paid to tile insurer, the arrangement Js often termed "captive reinsurance." t:urther: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage htsurance, or any other tenus of the Loan. Such agr~ments will not increase the amounl Borrower will owe for Mortgage Insurance, and they will not entitle Borrmver ~o any refund. (18 Any such agreements ~¥ill not affect lhe righls Borrower has - il' any ~ with r~l)ect ~o ihe Mortgage Insurance under the l~iomt~wners Protection Act or 1998 or any oflmr law. Thee rights may include the right to receive certain disclosure, to request and obtain cancellation of the Mortgage Insurance, i:o have the Mortgage Insurance terminated autom;,ticall¥, ;md/or to receive refund of any Mortgage lns'urance l)remitm~ dmt were unearued ;~t fl~e time ¢;r such cancellation o,' termina don, 11. Assignment oF Miscellant~us Proceeds; Fo,'feiture. All Misccllaucous Proceeds arc hereby assigned to and shall be paid to Lender. If file ProperW is danngcd, such Miscellaueous Proceeds shall bc applied to restoratiou or ~-epair of fl.~e 'Property, if fl~c rcstt)ratio,~ u,- repair is ectmomically tbasible and Lender's security is not lessened. During such repair and restoratimi, period, Leander shall have fl~c right to hold such Miscellaneous Proceeds 'umil. Lender.,. has had an. opportunity to inspect such Property to ensure fl~e work has been completed to Lcndc~ s satisihction, provided that such :inspection shall be undertaken pn:m{pdy. Le~er nmy pay {br repairs and rcsmratkm .ii~ a si~gle disburscmet~t or i~ a series of progress payments as thc wt~rk completed, Unless atl ag~'eemertt :is imlde in writi~lg or Applicable Law requires interest tu be paid o~l sucli Miscellaneous Proceeds, Lender shall not be required it, pay Borrower a~y imerest ur earnings o,~ such Miscellaneous Proceeds. l'f fl.~e restoration or repair is ,~ot eco~omicaily l~asible or Lender's security would be lessened, fl~e Miscellaneous Proceeds alkali be applied to thc sui~ s secured by tiffs Security whether or not flten due, with file ~xcess. if all3,, paid tu Borrower. Such Miac~llancous Proceeds shall be applied iii fl~e order provided for in Section 2. In fl~e event of a total taking, destruction, or loss iu value of thc Property, die Miscellaneous Proceeds shall be applied to die sums secured by tiffs Security hkstrument, whefl~er or not tl~c~l due, with the excess, if any. paid to Borruwer, 'hi the event of a partial taking, destruction, or loss iu value of die Prupcrty in which file t:air value of thc Property immediately before the partial taking, destructiou, t)r h~ss 'isl value is equal to greater than fi~c amount of the sums secured by this Security htxtrument innncdiatcly beihrc file partial taking, desunction, or h)ss i~t value, 'unless Borrower a~d ~nder t~fl~erwise agree in writing, fl~e sums secured by this Security lnsU'ument shall be reduced by fl~e amount of thc N~lisccllancous Proceeds multiplied by the fi')llowing fi;action: (a) the toad amfltm] of thc sums secured immediately beibre partial taking, destruction, or loss hi value divided by (b) thc ihir tinlrkct value of the Propcrty'immediateh, belk:)re rite 'partial taking, destructiun, or loss i~ value. Any balance shall be paid to Borrower. .In die evc~.~t of a pardal taking, destruction, or loss iu value of fl~e Property iff which fl~c ihir market value of the Property immediately bc~bre file partial taking, destruction, or loss in value is less flian thc' amtmm of the sums secured innncdiatcly betbre fl~e partial takiug, destruction, ur loss i~l value, unless Borrower and Lender ofl~erwise agree in wrid~g, fl~e Miscellaneous Proceeds shall be applied lo the sums secured by tiffs Security l~strument wheflter or ~ot ~c sunk~ are flietl clue. If die Pn~pe. rty is abandtmcd by Borrower, or if, after notice 'by Lender to B~rrowcr that Opposing Party (as defined in file next scntc~ce) oflkrs to nuike an awar~l to settle a claim tk'~r dannges, Borrower i~iis to respond tr~ Lender wifltin 30 days at'tcr the date the nodce is given, ~udcr is aufliorized to collect and apply flie Miscclhmcous Proceeds eifl~er to rcstorafim~ or repair of the Property or to the sunts secured by this Security hu~trument, whed:~er or not fl~en due. "Opposing Party" mca~kg fl~e third party fllat owes Bt~rrow'er Miscellaneous Proceeds or the party against whom Borrower has a riuht of actiou 'regard to Miscellane~us Proceeds. - Borrower shall be in dethult if any acticm or proceeding, whether civil or crimimd, is begun that, Lc.~ der s jndgmcnt, could result in /brfeitui;e of d~e Property or t~fl~er natcrial impairment of Lct~dcr's interest :in the Property or rights uuder this Security ht~trument. Borruwcr can cure such a delkmlt a~td. if accclerad0n has occurred, 'rei~mtate as pruvidcd iii Scctiou 1), by causiug die action or proceeding tf~ be dismissed wifli a ruli~lg al'mt, i~ Lender's judgment, precludes fl)rlkiturc of fl~c Property or other material impairment of Lender's interest in the PrOl~crty ur rights u~cr this Security hk~trumem. The proceeds any ~tward or claim ff)r danu~ges flint arc attributable to fl~e imlmirmcm of Lender's imcrcst i~ thc Prol:)env are hereby assigned and sh:dl be paid to Lciidcr. All M'iscellal~eous Proceeds flia~ are uot applied to :rcstoration or repair of fl~e Property shall applied in the order provided lbr iu Sectiou 2. 3051 1 i01 431 12. Borrower NOt Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amort:i~tion of dm sums secured by tiffs Security lnstrugneut granted by Leuder to Borrower or any Successor in [uterest 0f Borrower shall not operate to release fl~e liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required m commence proceedings against any Successor in Interest of Borrower or to refuse to exteod time for payment or otherwise modify amorfi~tion of fl.m sums secured by tiffs Security htqrument by reason of auy demand nu~de by fl~e origimd Borrmver or any Successors in Interest of Borrower. Any ~brbearance by Lender iu exercising any right or remedy including, wJthout linfitation, Lender's acceptance of payments .l~Olli fltird persons, entities or Successors i~l lnterest of Borrower or ill amounts less flm~l the amount fl~en due. shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Succ~sors and Assigns Bound. Borrower covenants and agrees O~at Bom)wet ~ obligations aud liability shall be joint and several. However, any Borrower who co-signs tiffs Security Instrument but does uot execute the Note (a "co-signer"): (a) is co-signing Security II~stmment only to mortgage, grant and coovey fl~e co-signer's interest iu O~e Property under the terms of this Secu.rity Instrument; (b) is uot persmmlly obligated to pay fl~e sunts secured by this Security h~strument; and (c) agrees &at Lender and any off,er Borrower cau agree to extend, modit3~, forbear or n~ke any acconuuodations wifl~ regard tt) fl~e terms of this Security lnstrumeut or the Note wiflmut the co-signer's COtls~nt. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes B . orrower s obligations under this Security lostmment in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under tiffs Security h[strument, Borrower shall not be released from Bt~rrower's obligations and liability under this Security hkstmment unless ~nder agrees to such release in writing, The covemmts and agreements of tiffs Security Instrument shall bind (except as provided in Section 20) and beuefit the successo~ and assig~tq of Leu~er. 14. Loan Charge. Lender nmy charge Borrower lees tbr semites performed in cmm~don wifl~ Borrower's default, for the propose of protecting Lender's interest in fl~e Property and fights under this Security hk~tmment, including, but not limited to attorneys' l~es, property inspection and valmtion tkes. In regard to any other :fees fl~e absence of express authority in tiffs Security Instrument to charge a specific lee to Borrower shall not be construed as a proh:ibition oo [he charging of such l~e. Lender may not charge .tEes fl~at are expressly prohibited by this Security hzqmment or by Applicable ~w. If the ~Loan is subject to a law which sets maximum loan charges, and dna law is tiredly interpreted so fl~at the iuterest or other loan cha:rges collected or to be collected iu counection with the Loan exceed permitted limits, then: ('a) any such loau charge shall be reduced by fl~e amount necessary to reduce the charge to the pemfi, tted limit; and (b) any sums alreadv collected from Borrower which exceeded permitted li~fits will be reflmded to Borrower. Lender may chSmse to make tiffs refund by reduciog fl~e principal owed under the Note or by nu~kiug a direct payment to Borrower. If a retired reduces principal, tim reduction will be treated as a partial prepayment wiflmut any prepayment charge (whether or not a prepayment charge is provided fi)r under fl~e Note). Borrower's acceptance t~f any such retired nmde by direct payment m Borrower will c:otksfitute a waiver of any right of action Borruwe~ might have arising out of such overcharge. 15. Notice. All uotices given by Borrower or Leuder in connection wifl~ Otis Security Iustmment must be i.i1 writing. Any notice to Borrower in connection with tiffs Security htxtrulnent shall be deemed to have been given to Borrower when mailed by first class mail or x~hcu actually delivered to Borrower's notice address it' sent by oflmr means. Notice to any one Borrower shall constitt~te nodce m all Borrowers unless Applicable Law expressly reqnires ntherwise. The notice address shall be the Property Address un ess Borrower has desig~mted a substitute notice address by. notice m Lender. Borrower shall promptly notil~ Lender of Borrower's change of address. If Lender s~ifies a procedure tbr reporting Borrower's change of address, then Borrower shall tuffy rept~rt a change of address through fltat s~cified procedure. There nmy be tuffy m}e desig~mted notice address under this Security htstmment at any one time. Any notice m Lender shall be givcu by delivering it or by nmiling it by first class nufil m Lender's address stated herein unless Lender has desigm~ted anofl~er address by notice to Borrower. Any notice io ctmnectiou wifl~ Otis Security htqtmmcnt shall not be deemed to have been given m Lender until actually received by Lender, If any notice required by this Secm'ity lustmment is also required under Applicable Law, the Applicable Law requirmneut will satisfy the corresponding requirement under this Security Instrument. ' - ~6{WY} I0oo5} v~. ~o at ~5 ~ Form 3051 1/01 16. Governing Law; Severability; Rules of Construction. This ~ecurity instrument shall be governed by tkderai law and tim law o( rite jurisdictiun ill which fl~e Propc:rty is located. All riehts and obligations contained in tiffs Security h~su'umcnt are subject to any requiremems and limitations of Applica'blc Law. Applicable Law might cxplicidy or implicitly allow fl~e parries to agree by contract or might be silent, but such silence shall not be co~kst:mcd as a prohibition a~ailkxt agrecn~nt by ca,tract. the event fl~al any provision or clause of tiffs Security hkstrument or fl~c Note conflicts wifl~ Applicable Law. such conliict shall not afl,ct ofl'~er provisimm o( dfis Security hk~tmment or the Note wlfich can be given ci'l~ct wifl~ou[ the'contlicfing provision, As used in this Security lmstrumenr: (a) words of tim nmsculinc gender shall mea~ and include corresponding neut:er words or words of the femilfinc gender; (b) words in thc singular shall mean and include fl~e plural and vice versa; and (c) the word "nmy" _' .cs sole discretion without any obligation m 17. Borrower's Copy, Borrower shall be given one copy of fl~e Note and of dfis Securib~ Instrument. 18. Transtar o[ the Proimvty or a Beneficial Interest in Borrower. As used in tiffs Section 18, "Interest in fl~e Property" mean~s any legal or beneficial imeres~ in fl~e Property, including, but not limited m, fl~ose beneficial interests transtbrred in a bond for deed, com'n~ct fi)r deed, iustalhnem sales conlracl or escrow agreement, the iment of which is flw transtar of title by Borrower at a [hiure date ~o a purchaser, if all or any part of the Properly or any lnieres~ in fl~e Property is sold or transferred (ur if Borrower is not a uamral person and a beneficial i:n~erest: in Borrower is sold or transim-red) wid~om Eender's prMr written co~senL Lender nay require irmnediate payment in I~11 of all sunzg secured hy tiffs Security h:~smm~ent. However. tMs Option shall not be exercised by Eender if such exercise is prohibited Applicable Law. If Lender exercises al'tis opdon, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less fl~an 30 days from fl~e date thc n~dce is given in accordance with Secti~m within whiH~ Borrower must pay all sunk~ secured by this gecut'ity lnstrun~ent, if Borrower l~ils to pay these sums prior to the expiration 'of dfis period, Lender umy invoke auy remedies permitted hy this Security hlstmment wiflmut furrier notice or dcnmnd ou Borrower. 19. Borrower's Right to Reinstate After Acceleration. 1[ Borrower meets certain conditions, Borrower Shall have the right to have enfi:n:cement of this Security hkstrumcnt discontinued at any time prior to fl:~e earliest of: (a) live days heiin'c sale of thc Property pursuant to am, power of saie Collta(llcd ill tiffs Security Instrument; (b) such oilier period as Applicable Law nfight sp~cii}, fin- die tcrmimttion of Borrower's right to reinstate; or (c) et~try of a jtldgmcnt entirrch~g this Security lnsminlent. Those coadidons arc fliat Borrower: (a) pays Leader all sums which tbea would be due uitder tiffs Security h'ksmm~cnt and fl~c Note as if no accelera/io~l had occurred; (b) cures atly de~hult of any other covenants or igreenmnts; (c) pays ali expenses incurred in enlbrcing tiffs Security lnsffumcnt, including, but not limited to, reasonable attorneys' Ikes property i~tspeciion and valuation fees, and off,er l'kes inc'urred ibr thc pu~ose of protecting Lender's interest in fl~e Property and rigl~ts under this Security Instrument; aud (d) takes such aclion as Lci~der nimy reasmmbly require to assure flat Lender's interest in fl~e Property and rights under this Security hkstrumcnt, and Borrower's obligation to pay fl~e sums secured by tiffs Security Instrument, shall continue ul~changod. Lender lilly require fl~at Borrower pay such :rcinsu, ten'~em SUll~ and expenses in one or mm'e of fl:~e tblh)wi lg fi)rim% as selected by Lender: (a) cash; (b) money order; (c) certiiied check, bank check, treasurer's check or cashier's check, provided any such check is drawn up~n~ an i~mti/ution Whose deposits arc insm'ed by a federal aemmy, iitxtrumemality or entity; or (d) Elccmmic Funds Transfer. Upon ~einsmtement by BorSower, tiffs S~curity limtrun~cm aud t)bligatioliS secured hereby shall 'rcnniin fully eftkctive as if !1o acceleration had occurred. However. tiffs right to reinstate shall not apply in the case of acceleratJou under Section ] 8. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest iu fl~e Note (togeflier wifl~ this Security Instrument) can be sold one or more times wifltout prior notice Borrower, A sale might resuh in a chanue in the entity (known as the "Loan Servicer") fl~at coilccts Periodic Payments duc under file Note a~d fltis Security lnstmm=nt and perlbrms ofl~cr mortgage loan servicing obiigatioiu under fl~e Note, tiffs Security instrument, and Applicable Law. There also might be one or more changes of fl~e Loan Servicer unrelated to a sale of the Note. if flare is a change of the Loan Servicer, Borrower wilt be given whiten m~tice of die cl'ta~ge which will state file ~mme and address of the new Loan Servicer, thc address m which pavments should be n~dc and any other information RESfA :requires ill ctmnectiou w.itl~ a notice of transfer of scrviciug. If file Note is sold aud therea/ier file Loan is serviced by a Loan Servicer off,er titan the purchaser of file Note, file mortgage loan servicing obligations to Borrower will remain wifl~ fl~e Loan Servicer or be trausi~rred to a successor Loan Se~icer and are not assumed by the Note purchaser unless ofl~erwise provided by the Note purchaser. Neither Bo:rn~wer nor Leuder may commeucc, join, or be joined to any judicial actiou (as either individual litigant or thc member or' a class) fl~at arises t?om fl~e ofl-~er party's actions pursuaut to Security lusUnment or that alleges fl~at fl~e other party has breached any provisiou of, or any duty owed by reason (fi, this Security lnstnm~ent, until such Borrower or Leuder has notified the off,er party (wifl~ such notice given in compliance with the requirements or' Section 15) oi' such alleged breach and aftbrded fl~e other pttrty hereto a reasonable period after fl~c giving of such notice to take corrective actioq. Applicable I_aw provides a time period which must elapse bclbrc certain action can be taken, that time period will be deemed to be reaso~n~ble fi:~r purposes of this paragraph. Thc notice of acceleration aud opportunity to cure giveu to Borrower pursuant to Seciiou 22 and fl~c notice of acceleration given Borrower pursuant to Sectiou 18 shall be deemed to satisfy fl~e notice and opportunity to take corrective action provisions of this Section 20. 21. H:uardous Substanccw. As used iu this Section 21: (a) "Ha~rdous Substances" are those substances defined as toxic (ir lla~l~dous substances, pollutants, or wastes by Envimmneutal Law and the follow:lug substauces: gaso ine, kerosene, other flanmmble or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, nmterials containing asbestos or tbrnmldehyde, and radioactive materials; (b) "Environmental ~w" me:ns federal laws and laws ol' file jurisdictiun where file Pruperty is located that relate to health, satkty or euvironmental protection; (c) 'Envirom~ental Cleanup" includes any rcspm~se action, remedial actiou, or removal action, as &lined in Enviromnenml Law; and (d) an "Envirmuncntal Ct)l~ditioW' lll~alls a co~ditiou fltat eau cause, cuntr.ibute to, or ofl~erwise trigger an Envirtmmental Cleam~p. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or fltreateu t{)release any Hazardous Substances, on or in ~e Property. Borrower shall not do, nor allow anyone else to do, anyflfing affecting 0~e I'mperty (a) that is in vi~lation or' any Environmental Law, (b) which creates an Environmental Condititm, or (c) which, due to fl~e preseuce, use, or release or' a Hazardous Substance, creates a condition that adversely aflbcts fl~e value of fl~e Property. The preceding two sentences shall not apply to fl~e presence, use, {~r storage tm thc Property of small quaudties of Hazardous Substances that ate generally recognized to be appropriate to nornul residential uses and mai.nte~umce of fl~e Property (includlug, but :not limited to, ha~rdous substances iu cmksumer products). Borrower shall prompdy give Leuder written hr)rice of (a) auv investigation, claim, dcnmnd, lawsuit or other action by any governmental or regulatory agency or private party involving fl~c Property aud auy lla~rdous Substance t~r Enviromncntal Law of which Borrower has actual knowledge, (b) any Environmental Condition, includiug but not limited to. any spilliug, leaki~g, discharge, release or threat of release of any Hazardous Substance, and (c) any couditiou caused by the presence, use or release of a Haza:rdous Substance which adversely alt~cts d~e value of the Property. If Borrower lean~, or is notified by any governmental or :regulatory aufllority, or any private party, that any removal or other remediadon of any Hamrdous Substance affecting fl~e Property is uecessaD', Borrower shall promptly rake all necessaD, remedial actions in accordance wi~ Euviroumental Law. Nothing herein shall create any obligatiou on Lender *br an Environmental Cleau:up, (~-6(WY)~ looo~) wa~ ~2.~ is ~ Form 3051 1/01 NON-UNIFORM COVENANTS. Borrower and Lender furrier covmmnt and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acCeleration followiug Borrower's breach of any covenaut or agreement in this Security Instrument (but. not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c} a elate, not l~s than 30 days from the date the notice is given to Borrower, by which lhe ¢lefanlt must be cured; and (d) that failure to cure tile default on or before the date specified in the notice amy resnlt in acceleration of the sums secured hy this Security Instrument and sale of the Property. The notice shall further inform Borrower or the right to reinstate after acceleration aud the right to bring a conrt action to assert the non-existence of a default or any other defense of iBorrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in hill of all sums secored by this Security Instrument without further demand and may. invoke the power of sale and any other remedies permitted by Applicable Law. Lemler shall be entitled to collect all expenses incurred in Imrsning the remedies provided in this Section 22, inclnding, but uot limited to, reasonable attorneys' tees and costs of' title evidence. It Lender invokes the power of sale, Lender shall give notice of intent 1o foreclose to Borrower aud to the pcrsou in possession of the Property, il' different, in accordance with Applicalfie Law. Lemler shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall lmbllsh the notice of sale, and the Property shall be sohl in the manner prescribed by Applicable Law. Louder or its designee may purclmse the Property at any sale. The proceeds of the sale shall be applied in the following on:ler: (a) to all exl)euses of the sale, including, lint not limited to, reasonable attorueys' fees; (b) to :ill sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it~ 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release fifis Security Instrument. B{~rrower shall pay any recordation costs. Lender amy charge Borrower a tee for releasing this Security Insmm~ent, but only it' fl~e fee is paid to a flfird party for services rendered and tile charging of the tee is permitted under Applicable Law. 24. Waivers. Bom)wer releases and waives alt rights under and by virtue of tim hmnestc:ld exenq~t:ion laws of Wyoming. (~-~(V~/Y] 100051 ~. 1::~ oi' ~, ~ Form 3051 1101 BY SIGNING BELOW B()rrower accepts and agrees to file tern~ and covenants contained in fl~is Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: (Seal) DON R ANDERSON -Bt, rr~wcr - (Seal) DAWN M ANDERSON -Borrower (Seal) -Borrower (Seal) (Seal') -Borrower (Seal) (Seal) Borrower (Seal) -Borrower P~ 14of'{5 Form 3051 1/01 STATE OF WYOMING, LINCOLN Tile Ibregoing Jllstrumcnt was acknowledged before me Oils by DON R ~ERSON ~ DA~ M ~ERSON 3rd County ss: day of March, 2003 438 My Conmfission Expires: February 2, 2006 NoJary Public J~,~6 G (WY)Iooos) P~sor~ Form 3051 1101