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HomeMy WebLinkAbout888512Loan No: 77577 Borrower: FRED BALDWIN Return to: Processing Center 400 Woodland Prime, #100 Menomonee Falls, WI 53051 OEIV :_ . CO~lfq"l- CLERK LINCOLN i) ,.:, '~OOKS~ ~PRPAGE 05 4 DEFINITIONS [Space Above This Line For Recording Data] MORTGAGE MINi: lq01(,5504007757712 Words used in multiple sections of this document are defined below and other w0rdf Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words use are also provided in Section 16. (A) "Security Instrument" means this document, which is dated March 6, 2003,i to Riders to this document. (B) "Borrower" is FRED BALDWIN UNMARRIED. Borrower is the mortgagor Und Instrument. (C) "MERS" is Mortgage Electronic_Registration Systems, Inc. MERS is a sepbral e is acting solely as a nominee for Lender and Lender's successors and assigns. MERS under this Security Instrument. MERS is organized and existing under the law~ ofiDe an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. !(888) (D) "Lender" is HOMECOMINGS FINANCIAL NETWORK, INC.. Lender is AiC£ organized and existing under the laws of the State of DELAWARE. Lender's address HASKELL AVENUE, SUITE 1000, DALLAS, TEXAS 75204. (E) "Note" means the promissory note signed by Borrower and dated March 6, 2003. ' that Borrower owes Lender SEVENTY-FIVE THOUSAND SEVEN HUNDRED and NO (U.S. $ 75,700.00) plus interest. Borrower has promised to pay this debt in regdlar iPe and to pay the debt in full not later than April 1, 2033. are defined in this document ether with all this Security )rporation that the mortgagee [aware, and has ;79-MERS. ~RPORATION 2711 NORTH 'he Note states 100 .....Dollars iodic Payments (F) "Property" means the property that is described below under the heading "TransI the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepaymeni cl}arges and late charges due under the Note, and all sums due under this Security Instrument, ~luslintgrest. ~ I (H) "Riders" means all Riders to this Security Instrument that are executed b~ Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Condominium Rider [] SecOnd Home Rider [] Balloon Rider [] Planned Unit Development Rider [] 1-4 Family Rider [] Biweekly Payment Rider [] Other(s) [specify] '~r of Rights in WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 0000077577 1/01 (Pa~ I of 11 Pages) 055 (I) "Applicable Law" means all controlling applicable federal, state and locali statUv ordinances and administrative rules and orders (that have the effect of law) as lwell a~ final, non-appealable judicial opinions, i i (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, ass~ssn charges that are imposed on Borrower or the Property by a condominium associgtio~ association or similar organization. I (K) "Electronic Funds Transfer" means any transfer of funds, other than a transadio] check, draft, or similar paper instrument, which is initiated through an electronic re'mi instrument, computer, or magnetic tape so as to order, instruct, or authorize a financia debit or credit an account. Such term includes, but is not limited to, point-of-sale transl teller machine transactions, transfers initiated by telephone, wire transfers, and automate( transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of dam:age~, o: by any third party (other than insurance proceeds paid under the coverages described in (i) damage to, or destruction of, the Property; (ii) condemnation or other taking ofI all the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations Of, to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpaymer on, the Loan.. .(O) "Periodic Payment" means the regularly scheduled amount due for (i) principal ind the Note, plus (ii) any amounts under Section 3 of.this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §260!1 e implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be a!mende time, or any additional or successor legislation or regulation that governs the same s~bj~ used in this Security Instrument, "RESPA" refers to all requirements and restriction~ th :n regard to a "federally related mortgage loan" even if the Loan does not qualify as a: fe mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Pr(: or not that party has assumed Borrower's obligations under the Note and/or this Sekur: TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and ali rene,a and modifications of the Note; and (ii) the performance of Borrower's covenants and agr this Security Instrument and the Note. For this purpose, Borr,o_wer does hereby mOrtg convey to MERS (solely as nominee for Lender and Lender s successors andi asiigr successors and assigns of MERS, with power of sale, the followin~ .....described prOvlrW County of Lincoln: LOT 3 OF BLOCK 5 OF THE LINCOLN HEIGHTS 5TH ADDITION, FIRSiT FILl CITY OF KEMMERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ONi TI- PLAT THEREOE WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (Pag ;s, regulations, all applicable ents and other 1, homeowners ] originated by hal, telephonic I institution to ers, automated clearinghouse proceeds paid 3ection 5) for: or any part of r omissions as of, or default Interest under [ seq.) and its I from time to :ct matter. As n are imposed derally related perty, whether ty Instrument. als, extensions '.ements under age, grant and s) and to the located in the NG, TO THE [E OFFICIAL 2 of 11 Pages) Loan No: 77577 which currently has the address of 1787 DELL RIO DRIVE, [Street] KEMMERER, WYOMING [City] 83 01 ("Piro[ [Zip Code] ! i TOGETHER WITH all the improvements now or hereafter erected onI th~ p~ easements, appurtenances, and fixtures now or hereafter a part of the property, iAI! re additions shall also be covered by this Security Instrument. All of the foregoing is iref Security Instrument as the "Property." Borrower understands and agrees that MERS 1 title to the interests granted by Borrower in this Security Instrument, but, if necessary law or custom, MERS (as nominee for Lender and Lender's successors and assigng) h exercise any or all of those interests, including, but not limited to, the right to :foreclc Property; and to take any action required of Lender including, but not limitet to: canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate helreb has the right to mortgage, grant and convey the Property and that the Property is unencu for encumbrances of record. Borrower warrants and will defend generally thei title against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national us~ covenants with limited variations by jurisdiction to constitute a uniform security i[stn real property, i UNIFORM COVENANTS. Borrower and Lender covenant and agree as! folJow 1. Payment of Principal, Interest, Escrow Items, Prepayment Charge~, ahd Borrower shall pay when due the principal of, and interest on, the debt evidenced by th~ prepayment charges and late charges due under the Note. Borrower shall also pay] ful Items pursuant to Section 3. Payments due under the Note and this Security Instru~nen~ in U.S. currency. However, if any check or other instrument received by Lender 3s .Pay~ Note or this Security Instrument is returned to Lender unpaid, Lender may reqm:re subsequent payments due under the Note and this Security Instrument be made in one following forms, as selected by Lender: (a) cash; (b) money order; (c) certified chec treasurer's check or cashier's check, provided any such check is drawn upon !an fins deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic F Payments are deemed received by Lender when received at the location designat~ or at such other location as may be designated by Lender in accordance with the notic, Section 15. Lender may return any payment or partial payment if the paymen! o~ pa are insufficient to bring the Loan current. Lender may accept any payment of insufficient to bring the Loan current, without waiver of any rights hereunder or Prejudi to refuse such payment or partial payments in the future, but Lender is not obligated payments at the time such payments are accepted. If each Periodic Payment is ia scheduled due date, then Lender need not pay interest on unapplied funds. Lender ~ unapplied funds until Borrower makes payment to bring the Loan current. If BorrOw{ so within a reasonable period of time, Lender shall either apply such. funds or return ihel If not applied earlier, such funds will be applied to the outstanding principal balance u immediately prior to foreclosure. No offset or claim which Borrower might have noTM o against Lender shall relieve Borrower from making payments due under the NOte iam Instrument or performing the covenants and agreements secured by this Security Initru 056 Data ID: 881 erty Address"): operty, and all ~lacements and srred to in this tolds only legal to comply with as the right: to se and sell the releasing and conveyed and mbered, except the Property non-uniform tment covering Late Charges. ; Note and any tds for Escrow shall be made aent under the :hat any or all ~r more of the c, bank check, [itution whose ~nds Transfer. rd in the Note · , provisions in rtial payments trtial payment ce to its rights to apply such )lied as of its nay hold such :r does not do 1 to Borrower. nder the Note in the future this Security aent. 2. Application of Payments or Proceeds. Except as otherwise described lin this Section 2, all payments accepted and applied by Lender shall be applied in the following 6rd{r of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts :du.e ur~der Section 3. Such payments shall be applied to each Periodic Payment in the order in which it bec~me due. Any remaining amounts shall be applied first to late charges, second to any other amoufits ~lue under this Security Instrument, and then to reduce the principal balance of the Note. : i / If Lender receives a payment from Borrower for a delinquent Periodic Pa~meht Which includes a sufficient amount to pay any late charge due, the payment may be applied to the deiinc/uent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may alppl[ any payment received from Borrower to the repayment of the Periodic Payments if, and to ~he iext:nt that, each payment can be paid in full. To the extent that any excess exists after the payment!is .ipplied to the full payment of one or more Periodic Payments, such excess may be applie~ to any flat,,, charges due. scribed in the Voluntary prepayments shall be applied first to any prepayment charges and then aS de Note. ~ Any application of payments, insurance proceeds, or Miscellaneous Proce~dslto under the Note shall not extend or postpone the due date, or change the amoun(, Payments. i WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 Pagl principal due the Periodic 3 of 11 Pages) 3. Funds for Escrow Items, Borrower shall pay to Lender on the day Periodic P~ under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payn due for: (a) taxes and assessments and other items which can attain prioiity !ov~ Instrument as a lien or encumbrance on the Property; (b) leasehold payments Or grou Property, if any; (c) premiums for any and all insurance required by Lenderl under (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower toI Lehde payment of Mortgage Insurance premiums in accordance with the provisions lof Sec I items are called "Escrow Items." At origination or at any time dunng the term of th may require that Community Association Dues, Fees, and Assessments, if any, be ~escrow and such dues, fees and assessments shall be an Escrow Item. Borrower shall pron Lender all notices of amounts to be paid under this Section. Borrower shall pay Lende Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any _Or al Lender may waive Borrower's obligation to pay to Lender Funds for any or ali Escrc time. Any such waiver may only be in writing. In the event of such waiver, BorrOwer s when and where payable, the amounts due for any Escrow Items for which paym!entlof waived by Lender and, if Lender requires, shall furnish to Lender receipts eviden~in within such time period as Lender may require. Borrower's obligation to make such provide receipts shall for all purposes be deemed to be a covenant and agreemen[ cc Security Instrument, as the phrase "covenant and agreement" is used in SectiOn 9. obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to Pay for an Escrow Item, Lender may exercise its rights.under Section 9 and pay such lam°un shall then be obligated under Section 9 to repay to Lender any such amount. Lende waiver as to any or all Escrow Items at any time by a notice given in accordanc~ with, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficienti to to apply the Funds at the time specified under RESPA, and (b) not to exceed ihe ima a lender can require under RESPA. Lender shall estimate the amount of Funds due current data and reasonable estimates of expenditures of future Escrow Iremg o: accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by ia instrumentality, or entity (including Lender, if Lender is an institution whose deposits or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the ~;sctow han the time specified under RESPA. Lender shall not charge Borrower for holding a~ Funds, annually analyzing the escrow account, or verifying the Escrow Itemsl, unles Borrower interest on the Funds and Applicable Law permits Lender to make s~chl a an agreement is made in writing or Applicable Law requires interest to be paid On the shall not be required to pay Borrower any interest or earnings on the Funds. Borroa can agree in writing, however, that interest shall be paid on the Funds. Lender shalli gi~ O57 tyments are due ent of amounts :r this Security nd rents on the Section 5; and r in lieu of the ion 10. These ', Loan, Lender :d by Borrower, 3tly furnish to the Funds for Escrow Items. Items at any all pay directly, Funds has been :such payment ayments and to ntained in this If Borrower is he amount due t and Borrower nay revoke the 3ection 15 and, that are then mrmit Lender ~lmum amount 9n the basis of otherwise in sderal agency, ire so insured) Items no later td applying the s Lender pays harge. Unless Funds, Lender er and Lender to Borrower, without charge, an annual accounting of the Funds as required by RESPA. i If there is a surplus of Funds held in escrow, as defined under RESPA, Lender sI all account to Borrower for the excess funds in accordance with RESPA. If there is a shorthgelof/Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by REsPA~and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance wi!th RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escroW, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shhll PayI to Lender the amount necessary to make up the deficiency in accordance with RESPA, but i in no I more than 12 monthly payments, i i / ' Upon payment in full of all sums secured by this Security Instrument, l~ender Shall promptly refund to Borrower any Funds held by Lender. ] i [ 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines!, aitd impositions t ' ' I attributable to the Property which can attain priority over his Security Instrumenlt, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Feeg, arid ~tssessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the m~ in Section 3. ~ Borrower shall promptly discharge any lien which has priority over this Security fins' Borrower: (a) agrees in writing to the payment of the obligation secured by t!he lie~ acceptable to Lender, but only so long as Borrower is performing such agreementl (b) cc in good faith by, or defends against enforcement of the lien in, legal proceedings Whi~ opinion operate to prevent the enforcement of the lien while those proceedings are ,per until such proceedings are concluded; or (c) secures from the holder of the lien satisfactory to Lender subordinating the lien to this Security Instrument. If Lendeir deter part of the Property is subject to a lien which can attain priority over this Security Instr~ may give Borrower a notice identifying the lien. Within 10 days of the date on which given, Borrower shall satisfy the lien or take one or more of the actions seti forth Section 4. , ~ Lender may require Borrower to pay a one-time charge for a real estate tax reporting service used by Lender in connection with this Loan. WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 eril nner provided rument unless in a manner ntests the lien :h in Lender's ding, but only an agreement nines that any tment, Lender that notice is above in this ication and/or 4 of ?1 Pages) Loan 5. Property Insurance, Borrower shall keep the improvements now existing Or h~ on the Property insured against loss by fire, hazards included within the term "ex[ended any other hazards including, but not limited to, earthquakes and floods, for Which I insurance. This insurance shall be maintained in the amounts (including deductibleZilew periods that Lender requires. What Lender requires pursuant to the precedingisenten during the term of the Loan. The insurance carrier providing the insurance shall Borrower subject to Lender's right to disapprove Borrower's choice, which right isha!l n unreasonably. Lender may require Borrower to pay, in connection with thi~ Loaf one-time charge for flood zone determination, certification and tracking services; ~or charge for flood zone determination and certification services and subsequent ~hal remappings or similar changes occur which reasonably might affect such determiflati6n ~ Borrower shall also be responsible for the payment of any fees imposed by the Fede Management Agency in connection with the review of any flood zone determination! re: objection by Borrower. I O58 Data ID: 881 '.reafter erected coverage," and ,ender requires · .Is) and for the ces can change be chosen by at be exercised , either: (a) a (b) a one-time ges each time )r certification. ral Emergency ulting from an If Borrower fails to maintain any of the coverages described above, Lender!may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no oblightio'n tb ,urchase any particular type or amount of coverage. Therefore, such coverage shall cover Lenderl {>ut might o} might not protect Borrower, Borrower's equity in the Property, or the contents o? th~ P~fovertv aeainst any risk, hazard or liability and might provide greater or lesser coverage than was pmv(o~sly'in e~ffect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed! by !Le~ Section 5 shall become additional debt of Borrower secured by this Security Ikstn amounts shall bear interest at the Note rate from the date of disbursement and shall b~ such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall L nders right to disapprove such policies, shall include a standard mortgage cl!ause, Lender as mortgagee and/or as an additional loss payee. Lender shall have the irigl policies and renewal certificates. If Lender requires, Borrower shall promptly give receipts of paid premiums and renewal notices. If Borrower obtains any form Of ihsur not otherwise required by Lender, for damage to, or destruction of, the Property, i su~ include a standard mortgage clause and shall name Lender as mortgagee and/orl as hn payee. In the event of loss, Borrower shall give prompt notice to the msuranc~ carrie Lender may make proof of loss if not made promptly by Borrower. Unless Lender otherwise agree in writing, any insurance proceeds, whether or not the und~rlyihg required by Lender, shall be applied to restoration or repair of the Property, if the r~tor is economically feasible and Lender's security is not lessened. During such repailr a period, Lender shall have the right to hold such insurance proceeds until i Lehde opportunity to inspect such Property to ensure the work has been completed to iLefide: provided that such inspection shall be undertaken promptly. Lender may disburse! pr, repairs and restoration in a single payment or in a series of progress payment~ a completed. Unless an agreement is made in writing or Applicable Law requires interest such insurance proceeds, Lender shall not be required to pay Borrower any interest or ea proceeds. Fees for public adjusters, or other third parties, retained by Borrower ]shail n of the insurance proceeds and shall be the sole obligation of Borrower. If the rdstotati~ not economically feasible or Lender's security would be lessened, the insurance pro~ applied to the sums secured by this Security Instrument, whether or not then dfie, witI any, paid to Borrower. Such insurance proceeds shall be applied in the order provided fo If Borrower abandons the Property, Lender may file, negotiate and settle any avail claim and related matters. If Borrower does not respond within 30 days to a not!ice !fro~ the insurance carrier has offered to settle a claim, then Lender may negotiate and Settle t 30-day period will begin when the notice is given. In either event, or if Lender acqdim under Section 22 or otherwise, Borrower hereby assigns to Lender (a) BorrOwe?'s insurance proceeds in an amount not to exceed the amounts unpaid under the Note o: Instrument, and (b) any other of Borrower's rights (other than the right to any refum premiums paid by Borrower) under all insurance policies covering the Property, inso!far are applicable to the coverage of the Property. Lender may use the insurance proCeeds e or restore the Property or to pay amounts unpaid under the Note or this Security} Ins~rul or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as ,Borro~ residence within 60 days after the execution of this Security Instrument and shali c0ntil the Property as Borrower's principal residence for at least one year after the date!of occ~ Lender otherwise agrees in writing, which consent shall not be unreasonably lwffhh{ extenuating circumstances exist which are beyond Borrower's control. WYOMING. Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (Pag~ ider under this tment. These payable, with be subject to nd shall name tt to hold the to Lender all ance coverage, :h policy shall tdditional loss r and Lender. and Borrower insurance was ilion or repair ad restoration : has had an 's satisfaction, )ceeds for the ; the work is to be paid on mings on such 9t be paid out m or repair is :eeds shall be the excess, if r in Section 2. ible insurance n Lender that ae claim. The ; the Property rights to any this Security of unearned is such rights ther to repair nent, whether ,er's principal rue to occupy tpancy, unless :Id, or unless 5 of 11 Pages) 7. Preservation, Maintenance and Protection of the Property; Inspections. IBo] destroy, damage or impair the Property, allow the Property to deteriorate or comm Property. Whether or not Borrower is residing in the Property, Borrower shall ma:iht: in order to prevent the Property from deteriorating or decreasing in value due to its co O59 rower shall not it waste on the ~in the Property adition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically fe~sible, Borrower shall promptly repair the property if damaged to avoid further deterioration o~ damnl;e. If insurance or condemnation proceeds are paid in connection with damage to, or the taking o~, the Property, Borrower shall be responsible for repairing or restoring the Property only ff Lendgr has released proceeds for such purposes. Lender may disburse proceeds for the repairs and iresior0tion in a single payment or in a series of progress payments as the work is completed. ! If th~ insurance or condemnation proceeds are not sufficient to repair or restore the Property, BOrro~et~ is not relieved of Borrower's obligation for the completion of such repair or restoration, i ! / Lender or its agent may make reasonable entries upon and inspections of ithelPn reasonable cause, Lender may inspect the interior of the improvements on the Propert give Borrower notice at the time of or prior to such an interior inspection specifying cause. , l 8. Borrower's Loan Application. Borrower shall be in default if, during th~ process, Borrower or any persons or entities acting at the direction of BorroWer or, knowledge or consent gave materially false, misleading, or inaccurate informatioh o Lender (or failed to provide Lender with material information) in connection with the representations include, but are not hmlted to, representations concerning Borrowe~ s Property as Borrower's principal residence. I i 9. Protechon of Lender s Interest m the Property and R~ghts Under this Sec~ If (a) Borrower fails to perform the covenants and agreements contained in th!s Secu (b) there is a legal proceeding that might significantly affect Lender's interest in the rights under this Security Instrument (such as a proceeding in bankruptcy, probatei fo or forfeiture, for enforcement of a lien which may attain priority over this SeCuritY I1 enforce laws or regulations), or (c) Borrower has abandoned the Property, then Eem pay for whatever is reasonable or appropriate to protect Lender's interest in the Pro] under this Security Instrument, including protecting and/or assessing the value o~ th. securing and/or repairing the Property. Lender's actions can include, but are no! limite any sums secured by a lien which has priority over this Security Instrument: (b) app~ari (c) paying reasonable attorneys' fees to protect its interest in the Property and/o~ ri Security Instrument, including its secured position in a bankruptcy proceeding. ~ Seeuri includes, but is not limited to, entering the Property to make repairs, change locks, r~ up doors and windows, drain water from pipes, eliminate building or other code Violatio conditions, and have utilities turned on or off. Although Lender may take action uncle: Lender does not have to do so and is not under any duty or obligation to dQ so! I Lender incurs no liability for not taking any or all actions authorized under this Secti Any amounts disbursed by Lender under this Section 9 shall become additional d, secured by this Security Instrument. These amounts shall bear interest at the Note! rat of disbursement and shall be payable, with such interest, upon notice from Lend, requesting payment, i i If this Security Instrument is on a leasehold, Borrower shall comply with ail the I: lease. If Borrower acquires fee title to the Property, the leasehold and the fee title . unless Lender agrees to the merger in writing. ~ i 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condmo~ Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance: any reason, the Mortgage Insurance coverage required by Lender ceases to ibe ~va mortgage insurer that previously provided such insurance and Borrower was requiredI to designated payments toward the premiums for Mortgage Insurance, Borrower shalll pa required to obtain coverage substantially equivalent to the Mortgage Insurance iprevio~ a cost substantially equivalent to the cost to Borrower of the Mortgage InsuranCe prex from an alternate mortgage insurer selected by Lender. If substantially equivalent Mot coverage is not available, Borrower shall continue to pay to Lender the amount ol designated payments that were due when the insurance coverage ceased to be iin ~ffe. accept, use and retain these payments as a non-refundable loss reserve in lieu of Mort Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan ii ul full, and Lender shall not be required to pay Borrower any interest or earning~ on su Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in for the period that Lender requires) provided by an insurer selected by Lender againI be~ is obtained, and Lender requires separately designated payments toward the p~emiurr Insurance. If Lender required Mortgage Insurance as a condition of making the Eom was required to make separately designated payments toward the premiums for Mort Borrower shall pay the premiums required to mmntaln Mortgage Insurance ~n ~effect, non-refundable loss reserve, until Lender's requirement for Mortgage InsuranCe end: with any written agreement between Borrower and Lender providing for such termi termination is required by Applicable Law. Nothing in this Section 10 affects Borro, to pay interest at the rate provided in the Note. WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 )perty. If it has y. Lender shall uch reasonable )an application vith Borrower's statements to ,oan. Material ccupancy of the ity Instrument. rity Instrument, Property and/or ; condemnation tstrument or to ler may do and ~erty and rights : Property, and d to: (a) paying ~g in court; and ghts under this ag the Property :place or board as or dangerous this Section 9, is agreed that )n 9. · .bt of Borrower e from the date :r to Borrower rovisions of the ;hall not merge t of making the n effect. If, for ilable from the ~qake separately ~ the premiums isly in effect, at iously in effect, tgage Insurance the separately :t. Lender will gage Insurance. :imately paid in ch loss reserve. [he amount and :omes available, for Mortgage and Borrower age Insurance, or to provide a ; in accordance nation or until ver's obligation e 6 of 11 Pages) Loan No: 77577 Mortgage Insurance reimburses Lender (or any entity that purchases the Nots) it may incur if Borrower does not repay the Loan as agreed. Borrower is not ai Insurance. Mortgage insurers evaluate their total risk on all Such insurance in force fror may enter into agreements with other parties that share or modify their risk, o! re agreements are on terms and conditions that are satisfactory to the mortgagelinsUre party (or parties) to these agreements. These agreements may require the mort [ge payments using any source of funds that the mortgage insurer may have available funds obtained from Mortgage Insurance premiums), i As a result of these agreements, Lender, any purchaser of the Note,i ar reinsurer, any other entity, or any affiliate of any of the foregoing, may receive i(di amounts that derive from (or might be characterized as) a portion of Borrower's Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or redu. agreement provides that an affiliate of Lender takes a share of the insurer's risk in of the premiums paid to the insurer, the arrangement is often termed "captive reins~ (a) Any such agreements will not affect the amounts that Borrower has 060 Data ID: 881 )r certain losses the Mortgage to time, and losses. These and the other to make may include insurer, any or indirectly) ts for Mortgage losses. If such for a share tnce." Further: to pay for · Mortgage Insurance, or any other terms of the Loan. Such agreements will nOt ase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower ito any refund. (b) Any such agreements will not affect the rights Borrower has - if any - respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any rights may include the right to receive certain disclosures, to request and obtain cancellatie the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to rec~ refund of any Mortgage Insurance premiums that were unearned at the time of such cancell termination. I1. Assignment of Miscellaneous Proceeds; Forfeiture. All MiscellaneoUs Pro~ are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to or repair of the Property, if the restoration or repair' is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the righ, to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Propertt to ensure the work has been completed to Lender's satisfaction, provided that such inspectiqn shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement ' in a series of progress payments as the work is completed. Unless an agreement is made in'writin or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoratign >r repair is not economically feasible or Lender's security would be lessened, the Miscellane0usI Iceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,!wi~h the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the ~order )rovided for in Section 2. In the event of a total taking, destruction, or loss in value of the Prope' Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, wh~ not then due, with the excess, if any, paid to Borrower. I In the event of a partial taking, destruction, or loss in value of the Pro' which the fair market value of the Property immediately before the partial taking, destruction, 0r lc value is equal to or greater than the amount of the sums secured by this Security Instrument imm before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise a~ : in writing, the sums secured by this Security Instrument shall be reduced by the amount of the ~eous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured iInm~di~ rely before the partial taking, destruction, or loss in value divided by (b) the fair market valu~ the Property immediately before the partial taking, destruction, or loss in value. Any bal&nc~ be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Prop~rty in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, ion, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous! ~ceeds shall be applied to the sums secured by this Security Instrument whether or not the sums a~e ~ due. If the Property is abandoned by Borrower, or if, after notice by Lender !to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a Clai for damages, Borrower fails to respond to Lender within 30 days after the date the notice is authorized to collect and apply the Miscellaneous Proceeds either to restora~ion Property or to the sums secured by this Security Instrument, whether or not then d~ Party" means the third party that owes Borrower Miscellaneous Proceeds or th~ p Borrower has a right of action in regard to Miscellaneous Proceeds. Lender is repair of the "Opposing against whom WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 ,e 7 of 11 Pages) Borrower shall be in default if any action or proceeding, whether civil or criminal in Lender's judgment, could result in forfeiture of the Property or other material Lender's interest in the Property or rights under this Security Instrument. Borrowelr default and, if acceleration has occurred, reinstate as provided in Section 19, by cau$in~ proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture or other material impairment of Lender's interest in the Property or rights udder Instrument. The proceeds of any award or claim for damages that are attributable to of Lender's interest in the Property are hereby assigned and shall be paid to Lende[. All Miscellaneous Proceeds that are not applied to restoration or repair oflthe; Pi applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extensidn c payment or modification of amortization of the sums secured by this Security IflstrUm~ Lender to Borrower or any Successor in Interest of Borrower shall not operate rio r¢lea of Borrower or any Successors in Interest of Borrower. Lender shall not be required proceedings against any Successor in Interest of Borrower or to refuse to extendi time otherwise modify amortization of the sums secured by this Security Instrument by )easbn made by the original Borrower or any Successors in Interest of Borrower. Any forbqara in exercising any right or remedy including, without limitation, Lender's acceptance of 1 third persons, entities or Successors in Interest of Borrower or in amounts less than th~ due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound.i B0rrc and agrees that Borrower's obligations and liability shall be joint and several. However, who co-signs this Security Instrument but does not execute the Note (a "co-signer")i: (a this Security Instrument only to mortgage, grant and convey the co-signer's interest under the terms of this Security Instrument; (b) is not personally obligated to pay !thc by this Security Instrument; and (c) agrees that Lender and any other Borrower. cao a! modify, forbear or make any accommodations with regard to the terms of this secudty the Note without the co-signer's consent. . Subject to the provisions of Section 18, any Successor in Interest of BOrroWer Borrower's obligations,under this Security Instrument in Writing, and is appr0vedi by obtain all of Borrower s rights and benefits under this Security Instrument. Biorr0we is begun that, mpairment of tn cure such a the action or ~f the Property this Security le impairment }perty shall be f the time for ',nt granted by se the liability to commence 9r payment or )f any demand nce by Lender myments from amount then over covenants any Borrower is co-signing the Property sums secured ;ree to extend, Instrument or who assumes Lender, shall shall not be released from Borrower's obligations and liability under this Security InstrumentiunleS~ ~ender agrees to such release in writing. The covenants and agreements of this Security Instrument ish~ll bind (except as provided in Section 20) and benefit the successors and assigns of Lender. i i / ~4. Loan Charges. Lender may charge Borrower fees for services perform&d in connection with Borrower's default, for the purpose of protecting Lender s interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys fees, property ~nspectlon and valuation fees. In regard to any other fees, the absence of express authority in this Securityilns!rmnent to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of!sm may not charge fees that are expressly prohibited by this Security Instrument or] by iAp If the Loan is subject to a law which sets maximum loan charges, an!d that interpreted so that the interest or other loan charges collected or to be collected in c~ the Loan exceed the permitted limits, then: (a) any such loan charge shall be re!duc~d necessary to reduce the charge to the permitted limit; and (b) any sums already , Borrower which exceeded permitted limits will be refunded to Borrower. Lendei~may c this refund by reducing the principal owed under the Note or by making a direct payme, If a refund reduces principal, the reduction will be treated as a partial prepaymee prepayment charge (whether or not a prepayment charge is provided for under the Nov acceptance of any such refund made by direct payment to Borrower will constitute a wai~ of action Borrower might have arising out of such overcharge, l 15. Notices. All notices given by Borrower or Lender in connection with this Secu] must be in writing. Any notice to Borrower in connection with this Security In!trt deemed to have been given to Borrower when mailed by first class mail or when actual Borrower's notice address if sent by other means. Notice to any one Borrower ghali co to all Borrowers unless Applicable Law expressly requires otherwise. The notice addre Property Address unless Borrower has designated a substitute notice address by not Borrower shall promptly notify Lender of Borrower's change of address. If Lenderi specifi for reporting Borrower's change of address then Borrower shall only report ia qha~ through that specified procedure. There may be only one designated notice address und~ Instrument at any one time. Any notice to Lender shall be given by delivering iii Or b first class mail to Lender's address stated herein unless Lender has designated anolher ad to Borrower. Any notice in connection with this Security Instrument shall not beldeeme given to Lender until actually received by Lender. If any notice required, by thi~ Secm is also required under Applicable Law, the Applicable Law requirement will satisfy the requirement under this Security Instrument. WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 (Pa( h fee. Lender ?licable Law. law is finally ~nnection with ~y the amount :ollected from loose to make to Borrower. without any Borrower's er of any right 'ity Instrument ment shall be ly delivered to nstitute notice ss shall be the ce to Lender. es a procedure .ge of address :r this Security ! mailing it by ]ress by notice ] to have been ity Instrument corresponding e 8 of 11 Pages) Loan No: 77577 Instrument. Those conditions are that Borrower: (a) pays Lender all sums which ther under this Security Instrument and the Note as if no acceleration had occurred; : (b)! cu of any other covenants or agreements; (c) pays all expenses incurred in enforCin~ Instrument, including, but not limited to, reasonable attorneys' fe_e,s, property inspection fees, and other fees incurred for the purpose of protecting Lender s interest in thie Prop under this Security Instrument; and (d) takes such action as Lender may reasonablyl re( that Lender's interest in the Property and rights under this Security Instrumeni, a obligation to pay the sums secured by this Security Instrument, shall continue un~hange{ require that Borrower pay such reinstatement sums and expenses in one or more oil thg fc as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check!, treas{ cashier's check, provided any such check is drawn upon an institution whose delposits a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon; rei Borrower, this Security Instrument and obligations secured hereby shall remain fullyl eft acceleration had occurred. However, this right to reinstate shall not apply in the case under Section 18. i 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Not; , orI a 1 in the Note (together with this Security Instrument) can be sold one or morei times notice to Borrower. A sale might result in a change in the entity (known as the i'Lohn collects Periodic Payments due under the Note and this Security Instrument i an mortgage loan servicing obligations under the Note, this Security Instrument, andl A There also might be one or more changes of the Loan Servicer unrelated to a Sale o! there is a change of the Loan Servicer, Borrower will be given written notice of the 6hal state the name and address of the new Loan Servicer, the address to which paym!entg sl~ and any other information RESPA requires in connection with a notice of transfer of se Note is sold and thereafter the Loan is serviced by a Loan Servicer other than lhe Note, the mortgage loan servicing obligations to Borrower will remain with the iLofin transferred to a successor Loan Servicer and are not assumed bv the Note purchfiser! un pro},ided by the Note purchaser. - ' ~ OG2 Data ID: 881 16. Governing Law; Severability; Rules of Construction. This Security Instr governed by federal law and the law of the jurisdiction in which the Property is lbcaied. obligations contained in this Security Instrument are subject to any requiremeints Applicable Law. Applicable Law might explicitly or implicitly allow the parties tO ali or it might be silent, but such silence shall not be construed as a prohibitioniaghins contract. In the event that any provision or clause of this Security Instrument with Applicable Law, such conflict shall not affect other provisions of this SecurityI Ins Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall line corresponding neuter words or words of the feminine gender; (b) words in the sihguiar include the plural and vice versa; and (c) the word "may" gives sole discretion ~vithOut to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Notei anti Instrument. ,, 18. Transfer of the Property or a Beneficial Interest in Borrower. As u~ed in is Section 18, Interest in the Property" means any legal or beneficial interest in the Property, in{ uding, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, i stallment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower a future date to a purchaser. ' If all or any part of the Property or any Interest in the Property is sold or Borrower is not a natural person and a beneficial interest in Borrower is sold or trans] Lender's prior written consent, Lender may require immediate payment in full df a!l this Security Instrument. However, this option shall not be exercised by Lender if prohibited by Applicable Law. ' If Lender exercises this option, Lender shall give Borrower notice of accelerati, n. The notice shall provide a period of not less than 30 days from the date the notice is givdn ih a,:cordance with Section 15 within which Borrower must pay all sums secured by this Security Instrumen[t. If Borrower fails to pay these sums prior to the expiration of this period, Lender may :inv°keI any remedies permitted by this Security Instrument without further notice or demand on Borrower. I 19. Borrower's Right to Reinstate After Acceleration. If Borrower meeits eert~in conditions, Borrower shall have the right to have enforcement of this Security Instrument diskontint~ed at any time prior to the earliest of: (a) five days before sale of the Property pursuant tb any power of sale contained in this Security Instrument; (b) such other period as Applicable Law,might specify for the term~nauon of Borrower's right to reinstate; or (c) entry of a judgment enforcinl this Security lment shall be All rights and [limitations of cee by contract agreement by Note conflicts :rument or the an and include ~hall mean and any obligation this Security WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 ~ag~ tsferred (or if 'erred) without [ms secured by ach exercise is 9 of 11 Pages) ~artial interest without prior ~ervicer") that .'rforms other ,pi;cable Law. the Note. If [ge which will ould be made 'vicing. If the 'chaser of the ;ervicer or be tess otherwise would be due · es any default this Security and valuation :rty and rights juice to assure ~d Borrower's t. Lender may flowing forms, [rer's check or ire insured by nstatement by active as if no ff acceleration Neither Borrower nor Lender may commence, join, or be joined to any ludlclal an individual litigant or the member of a class) that arises from the other partyls aCtio this Security Instrument or that alleges that the other party has breached any provision owed by reason of, this Security Instrument, until such Borrower or Lender has notified (with such notice given in compliance with the requirements of Section 15) of such alle afforded the other party hereto a reasonable period after the giving of such notice to action If Applicable Law provides a time period which must elapse before certain acttc that time period will' be deemed to be reasonable for purposes of this' parag,raph.' ' acceleration and opportunity to cure given to Borrower pursuant to Section 22 and acceleration given to Borrower pursuant to Section 18 shall be deemed to slatisfY opportunity to take corrective action provisions of this Section 20. 1 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous SubSta substances defined as toxic or hazardous substances, pollutants, or wastes by Envirdnrr the following substances: gasoline, kerosene, other flammable or toxic petroleum pesticides and herbicides, volatile solvents, materials containing asbestos oI forrr radioactive materials; (b) "Environmental Law" means federal laws and laws of ihe the Property is located that relate to health, safety or environmental protection; (C) Cleanup" includes any response action, remedial action, or removal action, as defi~edI in Law; and (d) an "Environmental Condition" means a condition that can cause, otherwise trigger an Environmental Cleanup. ~ 063 :tion (as either ns pursuant to of, or any duty [he other party ~ed breach and take corrective 1 can be taken, The notice of the notice of he notice and tces" are those ental Law and )roducts, toxic aldehyde, and sdiction where Environmental Environmental ltribute to, or Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, onl orl ir the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the P}op~rt, (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition! oi (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition thqt adve sely affects the value of the Property. The preceding two sentences shall not apply to the presence, ius% or storage on the Property of small quantities of Hazardous Substances that are generally irecggnized to be appropriate to normal residential uses and to maintenance of the Property (including, Out not limited to, hazardous substances in consumer products), i 1 Borrower shall promptly give Lender written notice of (a) any investigatioh, ~laim, demand, lawsuit or other action by any governmental or regulatory agency or private party inv01vi¢g the Property and any Hazardous Substance or Environmental Law of which Borrower has actUal kno, vledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, dischlarge,. : re:lease or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is ' notified by any governmental or regulatory authority, or any private party, that !any re]noval or other remediation of any Hazardous Substance affecting the Property is necessary, BorroWer shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing her :in shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and a 22. Acceleration; Remedies. Lender shall give nobce to Borrower prior to ~accele~ Borrower's breach of any covenant or agreement in this Security Instrumeint ibu acceleration under Section 18 unless Applicable Law provides otherwise). The nptic. (a) the default; (b) the action required to cure the default; (c) a date, not less ~han 31] date the notice is given to Borrower, by which the default must be cured; and (d) that the default on or before the date specified in the notice may result in acceleration of th~ by this Security Instrument and sale of the Property. The notice shall further inform right to reinstate after acceleration and the right to bring a court action to asSerti th~ of a default or any other defense of Borrower to acceleration and sale. If the dgfaolt or before the date specified in the notice, Lender at its option may require immediate of all sums secured by this Security Instrument without further demand and mayI in of sale and any other remedies permitted by Applicable Law. Lender shall bei entitle expenses incurred in pursuing the remedies provided in this Section 22, including, but reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to :for~clole to Borrower and to the person in possession of the Property, if different, in accordance with 3pplicable Law. Lender shall give notice of the sale to Borrower iii the manner provided in Section 15 Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The pro~eed~ o the sale shall be applied in the following order: (a) to all expenses of the sale, including, but ~ot limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument;land (c any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lend :r shall release this Security Instrument.' Borrower shall pay any recordation costs. Lender m[ay Cha~ge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third lpa ly for services rendered and the charging of the fee is permitted under Applicable Law. ! 24. Waivers. Borrower releases and waives all rights under and by virlue iof the homestead exemption laws of Wyoming. 1/01 WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 (Pag ;tee as follows: ation following not prior to shall specify: days from the failure to cure sums secured orrower of the :non-existence s not cured on }ayment in full ,oke the power d to collect all not limited to, 10 of 11 Pages) Loan No: 77577 BY SIGNING BELOW, Borrower accepts and agrees to the terms and ¢ovena~ this Security Instrument and in any Rider executed by Borrower and recorded With it. [Space Below This Line For Acknowledgment] State of County of The foregoing instrument was acknowledged before me this 20 O~, by FRED BALDWIN Witness my [Seal] My commission expires: ~ d'7/_.)_0(3 c~ 064 Data ID: 881 ~ts contained in WYOMING - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/Ol Page Notary Public Printed Name) ~1 of 11 Pages)