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HomeMy WebLinkAbout89150302017749 89 1503 R ¢, E_.EIVED LINCOLN "'"" INTY CLERK After Rccordi~ Retin-a To: FIRST BANK OF IDAHO, FSB D/B/A FIRST BANI~ ADVISORS P.O BOX 12860 JACKSON, ~ 83002 ]Space Above This Line For Recording Data] DEFINITIONS MORTGAGE LUC']H~TTA LOAN #: 4~400S4~1 MIN: 100174102000006017 PIN ~: ~71S29400~0000 Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain roles regarding the usage of words used in this document are also provided in Sectilm 16. (A) "Security Instrument" means this document, which is dated ,TUL,Y 1, 2 0 0 3 together with all Riders to this document. (B) "Borrower" is DEAN A. LUCenT_ TA AND JULI~ L. LUCHETTA, HUSBAND AND WIFI~ Borrower is the mortgagor under this Secm4~y Instrument. (C) "lVI~RS" is Mortgage BleelroniC Registration Systems, Inc. MBRS /s a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. I'vLERS is the mortgagee under this Security Instrument. MERS is organic-ed and existing' under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Fllnt'MI 48501-2026, tel. (858) 679-MBRS. (D) "Lender"is FIRST BANK OF IDAHO, FSB D/B/A FIRST BANK ADVISORS Lender is a CORPORATION organized and existiu§ undgr the laws o~' IDi~HO . Lender's address is P.O. BOX 9 0 0 0 KETCHUI~, ID 83340 (E) "Note" means the promissory note signed by Borrower and dated JULy 1, 2 0 0 3 Thc Note states that Borrower owes Lender T~O h-u'm~m~ ~ T~OuS~ FIV~ mm'oRm~ ~ OO/lOO Dollars (U.S. $ 220, $00.00 ) plus interest. Borrower ha~ promised to pay th~ debt in re~lar Periodic Payments and to pay thc deb! in full not la,er than AU~I~ST 1, 20'~3 (10 "Property" means the property that is deser~bcd below under the headin§ "Transfer ofl~§hts ~ thc Proper~y." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and ail sums due u~dcr th~s Secu~ty Iashur~.nt, plus interest. WYOMING - $~n~le Family - Fannie M~e~Fredd~e Mac UN IFOFJ~ ~ct~wv~ Form ~0~1 UO1 Mrq'v'cJ .,LS'l=ll~:l.'~dZt :Et :Til}-E -/_. 494008451 0HD "]Uders" mcam all Riders to tl~ Security [-alnuncm ~t are exe~d by ~o~wer. ~e foUo~g ~s ~ to ~ cxccut~ by Bo~ow~ [check box as a~hcablc]: ~ Adj~table ~te ~d~ ~ Condo~ ~&r ~ Scc~d Home ~der ~ BaUoon ~d~ ~ P~ed U~t Devel~m~t ~der ~ Biw~e~y Ps,em ~der ~ 1-4 F~y ruder ~ O~(s) [~ci~] 0) "Applicable Law" means all controlling applicablc federal, state and local statutes, regulation.,, ordinancc~ and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other clmrges that are imposed on Borrower or the Property by a condaminium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a tran-cactinn originated by check, dra~ or similar paper instrument, which is initiated through an electronic terminal, tclvphonic instrumchI, computer, or magnctic tape so as to order, instruct, or authorize a £mancial imtitutiou to debi! or credit an account. Such term includes, but is not limited to, point-of-sale transf~r~, automated teller machine transactions, ~ran.~fers initia~l by telephone, wire U'ansfers, and automatrd clcaringhousc transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" m~ans any compcmation, scttlement, award of damages, or proceeds paid by any third party (othgr than insurance proca=eds paid under the coverages described in Section $) for: (i) danmge ~o, or dcs~uction of, the Property; (i/) condemnation or other taking of all or any part of thc Property; (iii) convcya~c in lieu of condemnation; or (iv) misrep~esenvations of, or omissions as to, the value and/or condition of the Prope~,. (N) "Mortgage Insurance'? m=ans insurance protecting Lender against thc nonpaymgnt of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount duc for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instnnnent. ('P) "RF, SPA" means/he Real Estate Settlement Procedures Act (12 U.S.C. {}2601 et seq.) and its implementing regulation, Rvgulation X (24 C.F.R. Part 3500), as they might be amea&d from time to time, or any additimml successor legislation or regulation that govexm the same subjcc! matter. As used in this Security Instrument, 'T,_ESPA" refers to all requirements and restrictions that are ~mposed in regard to a "federally related mol~agc loan" even if the Loan docs not qualify as a 'Tederaily related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken tiflc to the Property, whether or not that party lms assun~d Borrower's obligatioru under thc Note and/or this Security Instrument. TRANSFER OF RIGHTS IN TI~ PROPERTY This Security Instrument secures to Lender:' (i) thc r~paymont of the Loan, and aH renewals, cXt~nsinrm and modifications of the Note; and (ii) th~ performance of Borrower's covenan~ and agreements under this .qe~rity Ins~unent and the ]~ote. For this purpose, Borrower docs hereby mortgage, grant and convey to MERS (solely as nominee for Lender and L~nd~r's successors and assigns) and to thc successors and assigns of MERS, and Lender's successors and assigns, with power of sale, thc fotlowing descn'bcd property located in. thc COUNTY Ct.I~RK of TETON (Type of Recording Jur/sdiction) (Nam~ of Recording Jurisdiction) : LOT 28 OF THB GREYS ~TVER VILLAGE SECOND ADDITION TO TH~ TOWN OF ALPINE, LINCOLN COUNTY, WYOM'/NO, AcCnRDi'N~ TO THAT PLAT FILED JULY 22, 1994 IN TH~ OFFICE OF TH~ CoUNTy CLERK AS INSTRUMENT NO. 787017 which currently has thc address of 3 7 O WOODEN SPUR DRIVE ALPINE ,Wyoming 83128 [Zip Code] WYOMING - Single Pan-db, - Fannie Mae/Freddie Mac UNIIN)RM INSTRUMENT z~ocuxwxa.v-rx zo/xT/aooa (Page 2 afl? page~) [Street] ("Property Addre~m'9, Form 30~1 1/91 [;37 4~4008~,51 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, · appurte,ma~ nc?s., and fi.xt~_cs now or hereafter a part of the property. All replacements and additions shall also be coverco oy this Security Insmuncnt. All of thc foregoing is r~erred to in this Security Instrument as the "Prolmmy." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in ~ Security Insh~m~ent, but, if necessa~] to comply with law or custon~ MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interegts, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seiscd of the estate hereby conveyed and has the right to mortgage, grant and convey thc Property and that the Property/s unencumbered, except for eilcUml~ances of record. Borrower warrants and will defend generally the title to the Property again.~! all cla/ms and demands, subject to any encumbrances of record. Ti-tiS SECURFFY INSTRUMI~ combines uniform covenants for national usc and non-u~form covenants with li~tcd variafiom by juzisdiction to constitute a u~iform security instrument covering real property. UN~ORM COVENANT~. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, prePayment Charges, and Late Charges. Borrower shall pay when duc the principal of, and interest on, thc debt evidenced by thc Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Sect/on 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any clmck or other instrument received by Lender as payment under the Note or this Security Instrument is Tctumed to Lender unpaid, Lender may require that any or all subsequent paytrmnts duc under thc Note and this Security Instrumant be made in one or more of thc following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an instituQon whose deposits arc insured by a federal agency, instrumentality, or entity;, or (d) ElecUonic Funds Transfer. Payments are deemed received by Lender when received at thc location designated in thc Note or at such other location as may be designated by Lender in accorclancc with the notice provisions in Section 15. Lender may return any payment or partial payment if thc payment or partial payments arc insufficient to bring thc Loan cra'rent. Lender may accept any payment or partial payment insufficient to bring thc Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments arc .acccptcd. ft each Pcriodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unspplied funds. Lender may hold ~uch unapphed funds until Borrower makes payment to bring the Loan current. If Borrov~r does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such 'ikuKls will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offl~t or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under thc Note and this Security Instrument or performing thc covenants and agrecments sectored by this Security Instrument. 2. Application of Payments ar Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall bc applied in the following order of priority: (a) interest duc under the Note; (b) principal duc under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in thc order in which it bccanm due. Any remaining anaounts shall bc applied first to late charges, second to any other amounts due under this Security Insmunent, and then to reduce the principal balance of thc Note. ff Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge duc, thc payment may bc applied to the delinquent payment and thc late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment cat~ be paid in full. To the extent that any excess exists after the payment is applied to thc full payment of one or mor~ Periodic Payments, such mtcess may hc applied to any late charges duc. Voluntary prepayments shall bc applied first to any prepayment charges and then as described in thc Note. WYOMING - Single Family - Fannie l~Je/Freddie M~c UNIFORM INSTRUMENT Form 30~1 I~l DOCt~WV~ (P~ge $ ells p~) 49400845~!. Any application Of paymcnt~, instuence proceeds, or Miscc~co~ ~occcds m p~¥al duc Note shell not cxt~ or pos~onc ~c duc ~tc, ~ c~gc ~e ~ of~e P~o~c ~. ~nds ~or Escrow lte~. Bo~ow~ shall pay m ~nder on ~ ~y Pe~odic Pe~n~ ~ duc u~er Note, ~fil ~e No~ ~ paid in ~, a sum (~c '~ds") to pro~d~ for palm of ~ts d~ for: (a) ~s ~d asses~nts ~d oth~ it~ w~ch c~ aRain pfiori~ over ~ Sec~ ~m as a h~ or ~c~brance on Prop~; ~) le~ehold pa~n~ or ~o~d rents on ~e ~e~, if any; (c) pr~ for ~y ~d all ~ce ~ir~ by ~d~r ~der Section 5; ~d (d) Mo~gage ~m~ce ~e~, ff any, or ~y S~ pa~b[e by Bo~o~r to L~nd~ ~ fieu of the pa~ent of MoRgage ~ce pr~ in accord~ce ~ ~e pro~om of Section I 0. ~ese it~ ~e cffi~d "Escrow I~." At o~tioa or at ~y ~ d~g ~e to~ of ~ Loa~ Lcnd~ ~y rcqu~e ~t Co~W Association Dues, Fees, ~d ~se~n~, if ~y, ~ escro~d by Bo~ow~, ~d such ~es, fees and ass~s~en~ s~ll bg ~ Es~ow I~ Bo~ower s~l ~o~tly ~h to ~der aR notices of amours to be p~d ~d~ ~ Sec~on. Bo~ower s~ pay ~ &e F~& for Escrow Ite~ ~ess Lender ~ws Bo~ower's obligation to pay ~e F~ for ~y or all Escrow Ite~. L~der ~y ~vc Bo~w~'s obhga~on to pay to Lgnd~ F~ds for ~y or ~ Escrow I~ at ~ ~. ~y such ~v~ ~y offiy be ~ ~g. In ~e ~vent of s~h w~v~, Bo~owgr ~all pay ~ectly, when ~d where pa~ble, ~e amo~ due for ~y ~row It~ for ~ch pa~nt of F~& ~ be~n ~iwd by ~ ~ if ~ requ~s, sh~ ~sh ~ ~der receipts ~videnc~g such pa~ent ~ such ~e ~od ~ Lender ~y requ~. B~o~r's obligation to ~ch pa~ts and to pro.de r~eip~ sMll for ~ p~oses ~ ~d to be a cove~nt and ~t coned ~ Sec~ ~nt, as ~ p~e "~ve~ ~ a~e~ent" is ~ed ~ Section 9. ff Bo~ower ~ ob~md to pay Escrow Ite~ d~ec~y, p~t to a ~iver, and Bo~ower f~ to ~y ~e amo~t due for ~ ~crow It~ ~nder ~y cx~cisc i~ fi~ ~d~ Section 9 ~d pay ~ch ~o~t ~d Bo~ow~ s~ll ~ be obligated ~dcr Section 9 to repay to ~nd~ ~y such ~t. Lender ~y revoke the ~iv~ ~ to ~y or all Es~ow Itc~ at ~c by a notice ~ven M accor~e ~ Section i5 and, ~n such rcvocafio~ Bo~wcr ah~l pay lo ~r all F~da, ~d M s~h ~o~ts, ~t mc ~en requ~d ~der ~s Section 3. Lcnd~ ~y, at ~y ~c, coBect ~d hold F~ ~ an mo~t (a) ~cient to pc~t Lender to apply F~ds at ~e ~ specified ~der ~SPA, and ~) ~t ~ excc~ ~e. ~~ a~t a l~ c~ ~ ~der ~SPA. Lender sh~ es~ ~e amo~t of F~ds d~ on ~e b~s of ~t ~ ~d reasonable es~tcs of o~ffi~es of~c Escrow Itc~ or othe~se ~ accordance ~ A~cahle ~w. The F~ds s~ll be held M ~ imfimfion whose d~osi~ ~ mad by a ~dm~ agency, or enfi~ (Mcl~g Lender, if Lender ~ ~ ~timfion whose dcposi~ are ~o ~med) ~ ~ ~y F~eral Ho~ Lo~ Ba~. ~nd~ shah apply ~e F~ds to pay ~e Es~ow Itc~ no la~ ~n ~e ~c specked ~dcr ~SPA. ~der s~ not ch~gc Bo~ower for holdMg ~d appl~g ~e F~ds, ~lly ~l~g ~e es~ow accost, or v~g ~c Escrow Itc~, ~ess Lcnd~ pays Bo~ow~ Mterest ~ ~e F~ds ~d A~cable Law p~ts ~nd~ to such a ch~gc. U~css ~ a~c~ent ~ ~ ~ ~g or A~licablc Law ~s ~erest ~ be paid on ~c L~der shall nat be req~ed to pay Bo~ow~ any ~te~t or e~ga on ~e F~. Bo~w~ ~d ~nd~ can s~ec ~ ~g, howler, ~t ~tercst $ha~ be paid on ~c F~. ~nd~ ~ll give ~ Bo~owcr, ~t c~rgc, an a~u~ acco~g of~e F~ as ~cd by ~PA. ~ ~ is a s~l~ of F~ds held ~ ~crow, m d~ed ~der ~SPA, Leader s~ll acco~t to Bo~ow~ for ~ excess ~ ~ accor~ce ~th ~SPA. ff thee is a shomge of F~ held ~ es~w, ns de~ ~der ~SPA, ~er s~ll uo~ Bo~ower aa re~d by ~PA, and Bo~ow~ s~ pay to L~der n¢cessa~ to ~ke up ~e sho~age M a~cordan~ ~ ~PA, but M no mo~ ~ 12 ~n~ pa~. a deficiency of F~ held m es~w, ~ d~ ~der ~PA, L~d~ ~ no~' Bo~ower as req~ by ~gPA, ~d Bo~wer shall pay to ~d~ ~e m~t necess~ to ~ke up ~e deficiency ~ accordanc~ ~SPA, but ~no rare ~ 12 money pa~ts. Upon pa~t M ~ of all ~ seemed by ~ Sec~W Immnt, Lend~ shall pro~tly re~ to Bo~ower any F~ held by L~det. 4. Charges; Lie~. Bo~ower shall pay all taxes, a$ses~ ~ges, fin~, ~d ~osifiom a~ble to ~ Prope~ w~ch ~n a~ pfiofi~ over ~a S~c~ ~n~ le~ehold pa~ or ~o~d ren~ Prope~, ~ ~y, ~d Co~ ~soc~fion Dues, Fe~, ~d Asa~a~n~, if ~y. To ~e ~ent ~t ~ese ~e Escrow It~, Bo~ower ~ pay ~ ~ ~e ~ ~vidod ~ Secfi~ 3. Bo~ow~ ~aH pro~y disc~o ~y ~en ~ch h~ priori~ over ~ Sec~ ~nt B~ow~: (a) a~oes ~ ~g to ~ pa~t of ~ ob~afi~ sec~ed by ~ ~ M a ~anqer accep~le to ~der, but o~y so 1o~ as Bo~ower is perfo~g ~ch a~e~t; ~) contes~ ~e ~ ~ good ~ ~, or ~.~x ~o/~T/aooo (P~e 4 & 9&008'IS:L defends against enforceracnt of the lien in, legal proceed/ngs which in Lender's opinion operate to prevent thc enforc~-nt of the lien while those proceedings are pending, but only until such proceed/ngs are concluded; or (c) secures from the holder o£ the lien an agreemcm satisfactory to Leader subordinating the lien to this ]nstntment. If Lender deteaugnes that any part of the Propc~y/a subjeet to a lien which can atta/n prJor/ty ov~' this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lieu or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall kee~p the/mprovernents now ex/sting or hereafter erected on the Property insured against loss by fu-e, hazards included w/thin the term "extended coverage," and any other hazards /ncluding, but not 1/m/ted to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amoun~ (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance ~arrier prey/ding the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably, Lender may requ/re Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification serv/ces and subsequent charges each time remappillgs or sirnilzr changes occur which reasonably might affect such detoiminafion or certificat/on. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an object/on by Borrower. If Borrower fails to maintain any of the coverages descn'bed above, L~nder may oblain insurance coverage, at Lender's option and Borrower's expeltSe. Lender/s under no obligation to purchase any part/cular type or amount of coverage: Therefore, such coverage shall cover Lender, but m/ght or m/ght not protect Borrower, Borrower's equity/n the Property, or the content~ of the Property, against any r/alL hazard or llab/1/ty and might provide gloater or lesser coverage than was prev/ously/n effect. Borrower aclmowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of in~wance that Borrower ccmJd have obtained. Any anon. unts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Seeority Instrument. These amounts shall bear interest at the Note rate from the date of dhbursement and shall be pa~nble, with such interest, upon notice from Lender to Borrower request/ag payment. All/nsurance policies requ/red by Lender and renewals of such policies shall be subiect to Lender's to d approve such po cie,, include a , da d mo aga cla e, nd.hail Lender a; mo.ga g an add/tional loss payee. Lender shah have the fight to hold the policies and renewal certificates. If Lender reqa/res, Borrower shall promptly give to Lender aH receipts of paid premiums and renewal notices. If Borrower obta/m any form of insurance coverage, not otherwise required by L~nder, for damage to, or destruction of, the l~operty, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or n, an additional loss payee. in the event of loss, BOrrower shall g/ye prompt notice ~o the/murance carder and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing,, any insurance proceecL~, whether or not the underlying insurance was required by Lender, shall bc applied to restolrafion or repa/r of the Property,/f the restoration or rcpa/r is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shah have the right to hold such instttance proceeds until Lender has had an oppo~ttm/ty to/n~pect such Property to ensure the work has been completed to Lender's satisfact/on, provided that such inspection shall be undertaken promptly. L~nder may disburse proceeds for the repair1 and restoration/n a single payment or in a aeries ofprogre~ payments as the work h completed. Unless an agreeml~ is made in writing or AppL/cable Law requ/res/ntereat to be paid on such/nsurance proceeds, Lender shall not be required to pay Borrower any interest o~ earnings on such proceeds. Fees for public adjusters, or other third plat/es, retained by Borrower ~hnll not be paid out of the/murance proceeds and shall be thc sole obl/gation of Borrower. If the restoration or repair is not economicaUy feasible or Lender's security would be le~ened, thc insurance pror, ccds shah be applied to the sums secured by th/s Security Instrument, whether or not then due, with the excess, if any, pa/d to Borrower. Such insurance proceeds shall be applied in the order prov/ded for in Section 2. If Borrower abandons the Property, Lender may file, ~cgotiate and settle any ava/lable insurance cla/m and related matters. IfBonower does not resPond w/thin 30 days to a notice from Lender that the insurance can/er has W~'OM~G - S/ngle Fanu'ly - Fannie Mae/Freddie Mat UNIFORM INSTRUMENT Form 30S1 ~/01 DOCIJICUrYs (Page $ o/13 6 ]0 494008451 offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceech in an am~nnt not tn exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the fight to any:refund of unearned ps'ct,duma paid by Borrower) under all insurance policies covering the Property, insofar as such fights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under th~ Not~ or this Security Instrument, whether or not then due. 6. Oeeupaney. Borrower shall occupy, establi,h~ and use the Property az Borrower's principal residence within 60 days after the execution of this Security In,regnant and shall continue to occupy the Property as Borrower's principal residence for at least one year aRcr the date of occupancy, unless Lender otherwise agees in writing, which consent shall not be unreasonably withheld, or unless extgnuating circumstances exist which are b~yond Borrower's control. ' 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or ira?air the Property, allow the Propc-n'y to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain thc Property in order to prevent the Property from deteriorating or de-creasing in value due to its condition. Unless it is determined pursuant to Section 5 that r~air or restoration is not economically fcas~le, Borrower shall promptly repair thc Property if damaged to avoid further deterioration or damage. If insurance or condemnation procccds arc paid in connection with damage to, or thc taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lendcr has released proceeds for such purposes. Lender may dishursc proceeds for thg repairs and restoration in a single payment or in a series of progress payments as the work is completed. If thc insurance or condcnmation pxocccds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for thc completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of thc Property. If it has reasonable cause, Lender may/nspect the interior of the improvements on the Property. Lender ~udl give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default i~ during thc Loan application process, Borrower or any persons or e~ltities acting at thc direction of BorrOwer or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material infonmt/un) in connection with the Loan. Material representations include, but are not lirniled to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the l~roperty and Rights Under this Security Instrument. If (a) Borrower fails to perform thc covenants and agrec~ncnts contained in this Security Instrument, Co) there is a legal p~occcding that might siLmificantly affect Lender's interest in the Property and/or rights under tiffs Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for cnforccmcnt of a lien which may attain priority over this Security Instrmncnt or to cnforec laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect L~der's itlterest in the Property and rights under this Security Instrument, including protecting and/or assess/ng thc v~ue of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien wh/ch has pr/ority over this Security Insffument; Co) appearing in court; ~nd (c) paying reasonable attorneys' fees to protect its interest in thc Property and/or riglfls under this Security Instrmment, including its secured position in a bankruptcy proceeding. Securing the Propcn'y includes, but is not ~ to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain wate~ from pipes, eliminnte building or other code violat/ons or dangerous conditions, and have ut/I/tics turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that' Lender incurs no liability for not taking any or all actions author/zed under this Scclion 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower s~cured by tiffs Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall bc payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security lnstonnent is on a leasehold, Borrower shall comply with all the provisions of the:lcaze. Borrower shall not surrender thc leasehold estate and interests hereto conveyed or terminate or canCel the ~round lease. Borrower shall not, w/thout thc express written consent of Lender, alter or amend the ground lo~sc. If Borrower acqu~cs fee rifle to the Property, the leasehold and thc fee fide shall not merge unless Lender agl~os to the merger in writing. WYOMING - Sing, lc Fan/Iv - Fannie MadFreddie Mac UNIFORM INSTRUM~ENT Form 30S! 1/01 DOCUKWY6 (Page 5 af ].~ pages) 841 10. Mortgage Insurance. If Lender required Mortgage ~e as a condil~on of making thc Loan, Borrower shall pay the premiums required to maintain tJie Mortgage Insurance in effect. ~, for any rea~m, the Mortgage Insuzance coverage requited by Lender ceases to bc available from thc mortgage insurer that previously provided such insurance and Borrower was req .u~red to n~kc separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insuxanee previously in effect~ at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously ia cffcct~ from an alternate mortgage insurer sclect~l by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall con~xmc to pay to Lender the amount of thc separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, usc and retain these payments asa non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding thc fact that the Loan is ultiznatcly paid in full, and Lend~ shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss resin-ye payments if Mortgage Insurance coverage (in thc amount and for thc period that Lender requites) provided by an insurer selected by Lender again becomes available, is obtained, and l.~nder requires separately designated payments toward the premiums for Mortgage Insurance. If Lender ~cluircd Mortgage. Insurance as a condition of making the Loan and Borrower was required to make separately dcsignatcd payments toward thc premiums for Mortgage Insuxance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refondable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement bctwe,n Borrower and Lender providing for tach termination or tmtil termination is rc~luired by Applicable Law.' Nothing in this Section 10 affects Borrower's obligation lo pay interest at the rate provided in the Note. Mortgage Insurance reimb~ses Lender (or any entity tlmt puxchases the Not~) for certain losses it amy incur ffBorrower does not repay the Loan as agreed. Borrower ia not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agre~nants with other parties that share or modify their risk, or reduce losses. These agrcerntmts are on ternm and conditiom that are satisfactory to the mortgage insurer and the other party (or parties) to tbese agr~nents. These agreements may require the mortgage insurer to make payments using any source of funds that the mol~age insurer may have available (which may include funds obtained ftom Mortgage Insurance premiums). As a result of these agreement~, Lender, any purchaser of the Note, a~otber insurer, any reinsurex, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized.as) a portion of Borrower's payments for Mortgage Inmuance, in exchange for sha~g or modifying, the mortgage insurer's risk, or reducing losses. II'such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the imurer, the arrangen~nt is often t~-med "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not iaea'ease the amotmt Borrower wm owe for Mortgage Insurance, and they will not entitle Borrower to any refund, (b) Any such agreements will not affect the right~ Borrower ha~ - if an}, - with respect to the Mortgage Insurance under the Homeowners Prote~tion Act of 1998 or any other law. These right8 may include the right to receive certain disclosures, to request and obtain eane,Jlation of the Mortgage Insmtance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mol~gage Insurance premiums that were unearned at tile lime of such cancellation or termination. 11. A~signment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby asligned to and shall be paid to L~nder. If the Property is damageR such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and l.,~mder's security is not lessened. Durin] ~uch repair and restoration period, L~nder shall have the right to hold a~ach Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work Iaaa been completext to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the r, pairs and restoration in a #ingle disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in w~iting or APPlicable Law requires interest to be paid on ~uch Miscellanenus Proceeds, Lender shall not be required I~ pay Borrower any interest or earnings on such Miscellaneou~ Proceeds. If the restolation or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secu~l by WYOMING - Single Family - Fannie Ma~ltr~ddt, Mae lo'NIFOllJ~! INSTRUMEINT Form 3051 l/ill 4~4009451 this Security Iustnunent, wh~her or not then due, with the excess, if any, paid to Borrower. Such IvLiscellancous Proceeds shall be applied in the order provided for in Section 2. Lu thc event ora total ~cing, destruction, or loss in value of the Property, the Miscellaneous Proceeg~ shall bc applied to thc sums secured by this Sccurity.lnsi~umcn!, whether or not then duc, with the excess, if any, paid to In the event of a partial t~ng, destruction, or loss in value of the Property in which the fair market value of the property immediately before thc partial ~aking, dcsuuction, or loss in vainc is equal to or greater ~ the amount of the sum~ securcc[ by th~ Security Instrument immediately before the partial tak~, destruction, or ~oss in value, un]ess Borrower and Lender otherwise agree in writing, the sum~ secured by this Security Ins~ment li~all be reduced by the amount of thc Miscellaneous Proceeds multiplied by the following fxaction: (al thc total ammmt of the ~ secured immediately before the parQal taking, destruction, or loss in valuc divided by (b) the faix maxket value of the Pmpcn'y immedJatcly before the partial ts]dug, desmaction, or loss in v~luc. Any balance shall be paid to Borrower. In the event of a partial taking, deslxuction, or lo~s in value of the Property in which the fair market value of thc Property irnmcdiately before thc partial ~akln§, destruclion, or loss in value is less than the amount of the sums secured immediately before the partial t~klns, destruction, or loss in v~luc, unlcss Borrowcr and L~dcr othec0vise agree in writing, the Miscellaneous Proceeds shall be applied to thc sums secured by tl~ Sl~curity ]~trumcnt wh~th~ or not thc sums are then due. If thc Property is. abanduncd by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined m the next sentence) offers to make an award to settle a claim for damage, Borrower ~ils to respond to Lender within 30 day~ after the date the rmticc is given, Le~der i~ authorized to collect and apply the ]Viiscella.ueous Pxo¢ceds either to restoration or repair of the Property or to the sum~ secured by this 8~urity Instrum~nt~ whether or not then due. "Opposing Party" m~ans thc third party that owes Borrower Miscclhmeous Proceeds or thc party against whom Borrower has a right of action m regard to Miscellaneous Proceeds. Borrower shall be in default if any :action or proceeding, wbether civil or cr/m/xml, is begun ltmt, in Lender' s judgracnt, could result in forfeiturc of thc Property or other material impairment of Lender's interest in the Property or rights under this Security Inset. Borrower can cure such a default and, if acceleration ha~ occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismi~ed with a ruling that, in Lender's judgment, precludcs forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrun~nt. Thc proc~ds of any award or claim for damages that are attributable to the irnpalrme, nt of Lender's interest in thc l~roperty are hereby assigned and shall be paid to Leader. Ali Miscellaneous Proceed~ that are not appl/ed to restoration or repaix of the Property ~!1 be applied in thc order provided for in Scction 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of thc time for payment or rn~dification of amortization of the sums secured by this Sccm'ity Instrument grantexi by Lender to Bom~,~r or any Successor in Interest of Borrower shall nat operate to release th~ liability of Borrower or any Succe~ors in Interest of Borrower. Lender shall not be r~quh-ed t~ commence proceedings against any Successor in InteRest of Hoxrower or to refuse to exte~nd time for payment or otherwise nmdi~, amortization of thc sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successor~ in Int~'est of Borrower. Any forbearance by/_~udur in exercising any right or remedy including, without limitation, IAmder's acceptance of payments fxom third persons, entities or Successors in Interest of Borrower or in amounts less than the amount th~n due, shall not be a waiver of or preclude the exercise ofa~y fight or remedy. 13. $oint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covena~t~ and agrees that Borrower's obl/gations and liability shall be ~oint and several. However, any Bm~ower who co-sigl~ this Security Inslxument but does not execute the Note (a "co-signer"): (al is co-signlng this Security Instrument ouly to moTtgage, grant and convey the co-sign~r's interest in thc Property under thc tcrm~ of this Security Insll'um~nt; is not personally obligated to pay the sm-m secured by this Security Ix~mxment; and (c) agrees that Lender and any other Borrower can.agree to extgnd, m~dify, forbear or make any accouuuodations with regard to thc terrm of this Security Instrument or thc Note without thc co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest ofBo~uwer ~ assulnes Borlower's obligations under this Security Insmm~ent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Inst~ment. Borrower shall not bc released f~om BorrOwer's obligatioms and liability under this Security Instrument unless Lender agrees to such release in writing. The covenam:~ and VV~'OIVlIN(~ - $insle Family -Fannte Mac/Freddie Mac UNIi~OI~ ]NSTRU]~4ENT Form ]ll51 !101 DOCU~wv~ (Pag~ 8 of J3 page. s) 494008451 agreements of th~s Security Instrument shall bind (except as provided in Section 20) and benefit the successors and' assigns of Lender. 14. Loan Charges, Lender may charge Borrower fees for services performed in connecti~ with Borrower's default, for the purpose of protecting l. gnder'8 interest in tho Property and rights under this S4:curity Insinunent, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Imtnunent to charge a specific fee to Borrower shall not be construed as a prohibition o.n the charging of such fee. Lender may not charge fees that are expressly pr~'bited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted, ,=o that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pcsmitted limits, then: (a) any such loan charge shall be reduced by thc amount necessary to reduce the charge' to the pe~milt~d limit; and (b) any sums already collected fxom Borrower which exceeded p¢,mitted limits will be refunded to Borrower. Lender may choose to make this refund hy reducing the principal owed under the Note or by making a direct payrneat to Borrower. If a refund reduces principal, the redu~lion will be treated as a partial prepsym~m without any pr~laayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payn~nt to Borrower will constitute a waiver of any right of.action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument rm,-~t be in writing. Any notice to Borrower in connection w/th this Security Instmnmnt shall be deemed to have beca given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent I~ other means. Notice to any one Borrower shall constitute notice to all Borrow~s unless Applicable Law exl~essly reclU/res otherwise. The notice address shall be thc Property Address unlasa Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of addrms. Ii' Lender specifics a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Sm.-'urity Instnrment at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has desiguatcd another address by notice to Borrower. Any ;notice in cormection with this Security Inslxument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Sccu~ty Inslnunent is also required under Applicable Law, thc Applicable Law requirement will satisfy thc corresponding requirement ureter this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of thc jurisdiction m which the Property is located. All fights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might bc silent, but such silence shall not bc construed as a prohibition against agreement by contract. In thc event that aw/provision or clanse of this Security Instrument or thc Not~ conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without thc confliclir~ provision- As used in. this Security Instrument: (a) words of the masculine gendcl~ shah mean and ilichidc corresponding neuter words or words of the feminine gender; (b) words in thc singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion wilhout any obligation to take any act/on. 17. Borrower's Copy. Borrower shall be given one copy of thc Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, '~aterest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests lransferrcd in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is thc transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written cement, Lender may require h~,,,~cdiatc payment in full of all sums secured by this Sccurily Instrument. Howevo~, this option shall not be exercised by Lender ii'such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. Thc notice shah provide a period of not less than 30 days I~om thc date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Securip/Imtmuwnt. If Borrower fails to pay these sums prior to thc Form 3051 II01 49~00845! expiration of this period, I~nder may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets ceZtain conditions,. Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of(a) five days before sale of the Property pursuant to any power of sale contained in this Security Insimn~nt; Co) such other period aa Applicable Law might spedify for the termination of Borrower's right to reinstate; or (¢) entry of a judgment enforcing this Security I~stnunent. Those conditions are that Bo~ower: (a) pays Lender' all sums which th~n would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses inctm'~d in enforcing this Security Instrument, including, but not lira/ted to, reasonable attorneys' fees, propen'y inspection and valuation fees, and other fees incurred for thc purpose of protecting Lender's interest in the Property and rights under this Security Insirument; and (d) takes such action as I~'nder may reasonably require to aasu~e that Lender's interest in Ute Property and r/ghts reader this Security Instrument, and Borrower's obligation to pay the sun,s secured by this Security I~s~ment, shall co~iilnue unchanged. Lender may require that Borrower pay such reinstatement sUmS and expenses in one or more of the following forms, as seleclzd by Lender: (a) c~h; CO) money order; (c) ~::artified check, bank check, treasurer's check or caahicr's check, provided any such chock is drawn upon an huditution whose deposits are insured by a federal agency, insmunentality or entity;, or (d) Eleclronic Funds Trimsfe~. Upon reinstatement by Borrower, this Security Instnun~ and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this fight to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of LOan Servicer; Notice of Grievance. Thc Note or a partial interest in the Note (together with this Security Inslxurncnt) can bc sold on~ or more tir~s withoui p~ior notice to BorrOwer. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Paymenta duo under thc Note and this Security Insffument and performs other mortgage loan servicing obligations under thc Note, this Security Instrument, and Applicable Law. There also might be one or mor~ changes of the Loan Servicer u~elated to a sale of thc Note. If there ia a change of the Loan Servicer, Borrower will bc given written notice of the change which' will state the name and address of thc new Loan Servicer, ~ address to which payments should be rotate and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is ~ld and thereafter the Loan i~ serviced by a Loan Servicer other than thc purchaser of thc Note, the mortgage loan sarviclng obligations to Borrower viii remain with the Loan Servicer or be transf~red to a succe.~or Loan Servicer snrl are not assumed by the Note purchaser unless othe~ise provided by thc Note purchaser. Neither Borrower nor L~nder may commence, join, or be joined to any judicial action (as either an individual htigant or thc member of a class) that arises from the other party's actions pursuant to this l.~ecurity Insh-ument or that alleges that thc other pa~ has breached any provision of, or any duty owed by reason Of, th~ Security Instrtm~ent, until such Borrower or Lender has not/fled the oth~ party (with such notice given in compliance with the recluircments of Sect/on 15) of ~uch alleged breach and affordext thc other party hereto a reasonable period at~e~ the giving of such notice to takc corrective action. If Applicable Law provides a tim~ period which mu~t elapse before certain action can be taken, that time period will be deemed to be reasonable for pil~poses of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section, 22 and the notice of acce[eratlo~a given to Borrower pursuant to Section 18 shall be deemed to satisfy thc noii~e and opportunity to ~ke corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following subsl~nces: gasoline, kerosene, other fla~n,,,able or toxic petrol~un products, toxic pesticides and herbicides, volatile sOlvenis, materials cout~inin§ asbestos or formaldehyde, and radioactive mal~'ials; CO) "Environmental Law" means ifedcral laws and laws of the jurisdiction where the l~roperty is located that relat~ to health, safety or cnvirom~enlal protection; (c) "Envirolm~ental Cleallup" in¢!udes any response action, remedial action, or removal action, aa defined in Environmental Law; and (d) an "Environmental Condition' means a condilion that can cause, contrl~out~ to, or otherwise trigger an ]~nviroumental Cleanup. Borrow~ shall not cause or pemait thc presence, usc, disposal, storage, or release of any Hazludous' Substances, or threaten to Icleasc any Hazardous Substances, on or in the Property. Borrower shall not do, nol' allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b)! which create~ an Environmeatal. Condition, or (c) which, duc to the presencc, usc, or release of a Hazardous Suh~tancc, WYOMING - Single Family - Faanic Mae/Freddie Mac UNII~OP.~i IN~I~I-RUM~INT Form ~0tJ 1/01 I~KWYI~I (Page IO af l 3 pttg~_s) 494 O 0 S4.~'t creates a condition that adveme]y affects ~e value off ~e P~c~. ~e p~ce~g ~o scn~n~e ~1 not ~ly · ~ presence, use, or st~age on ~e ~ope~ of s~ quashes of H~us Subst~ces ~t ~e ~emlly reco~ed to ~ appr~fiate ~ no~ ~sidenfi~ uses ~d ~ ~t~ce of ~e Prope~ (~ludmg, but not l~ted to, h~do~ mb~ces ~ comber ~). Bo~ow~ shall ~o~fly ~ve L~der ~iUen notice of (a) ~y ~ve~o~ cl~ d~n~ la~uit or o~er ac~on by ~y gov~ental or re~ato~ age~ or ~vate p~ ~volv~g ~e ~e~ ~d any H~do~ Subs~anc~ or Envko~n~ Law of w~ch Bo~wer ~s ac~l ~owledge, (b) ~y ~o~euml C~on. mclu~g but not l~ted to, ~y spi~g, le~g, disch~ge, release or ~at of release of any Subs~ce, ~d (c) any con~on ca~ed by ~e presence, ~e or rede of a Haz~do~ Substance w~ch a~ers~ly ~ects ~e value of ~e Prope~. IfBo~ower 1~, or b not.ed by any gove~ent~ or re~lato~ au~W' or any private p~, ~at ~y ~moval or o~er r~e~a~on of my Ham~om Subst~ce ~ec~g ~e Pm~ is necchi. Bonower sha~ pro~fly t~c ~ neccssa~ r~dial ac~ m accord~e ~ ~o~ Law. No~g here~ s~ create ~y ob~gafion on Lender for ~ En~o~n~l Cle~p. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceltxation under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is I~ven to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate niter acceleration md the right to bring a court action to assert the non-existence of a default or nny other defense of Borrower to acceleration nnd 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 full of all sums secured by this Se~uriW Instrument Without further demnnd and may invoke the power of sale nnd any other remedies permitted by Applicable Law. Lender shall be entitled to collect all eXpenses incurred in pursuing the remedies provided in this Seclion 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender Invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower nnd to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shah give notice of the sale to Borrower in the mnnner provided in Section 15. Lender shall publish the notice of sale, nnd the Property shall be sold in the nmnner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to ail expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to nil 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, Lendcr shall release this Security Inztmm~t. Borrower shall pay ~ny recordation costs. L~nder may charge Borrower a fee for releasillg this Security Instrument, but only fit. he fee is paid to a third party for services rendered and the charging of th¢ fee is permirled under Applicable Law. 24. Waivers. Borrower releases and waives aH rights under and by ~irtue of the homestead exemption laws of Wyoming. WYOMING - Single l~amily - Pannie Mac/Freddie Mac UNIFORM IN-~TRUMENT DOCf./K'~/~I i ~Page .il of .l $ t:mge, v) ~ o L%",,o~,.. VT'A ~.01171~003 Form 3051 1/01 646 Instmm~ any Rider cxc~d by Borrower.and recorded with it. - BO~OWER ~ DEAN ,A. LUCHE~']~A )~ DAT~ - - ~OP..ROW'lCR - ~TULIE 'L. LUCH~TTA - DAT]~ - BY SIGNING BELOW, Borrower accepts and a~ees to the terms and covenants contained in this S~curity WYOMING - Single Farrgly - Fannie Mae/Frtddle Mae UNIFORM INSTRUMENT ~oetn~zc. ~rz ~on?/lo~2 Form 30~1 1/01 647 499008451 [Space Below This Line For Acknowledgment] STATE OF co.Tv oF The foregoing iruttn~ment was acknowledged before me by DEAN A. ~.UCHETTA AND JULIE L. LIIC~ETTA, HUSBAND AND WIFE this ~1~, 2003 Witness my hand and official seal. Notary Public ~/ My Cou~ssion Exp~rcs: 6-~/~,//_)J'-- WYOMING - Singl~ Family - Fannie Madl~reddle Mac UNIFORM INSTRUMENT I)OCLO&WYI~ (Page 15 of H p~) Do~.~ 61~/2003 Form 3051 VOl S~OS I FIXED/ADJUSTABLE RATE RIDER (LIBOR One-Year Index (As Published In The Wall Street Journal}--Rate Caps) THIS FIXED/ADYUSTABLE RATE RIDER is made this 1-sT day of o-17~¥, 2003 , and is incorporated Jato and shall be deemed to amend and suppl~m~nt the Mm'tgage, Deed of Trust, or Secm'ity Deed (the "Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrow~'s FLxed/Adjustablc Rate Note (the "Note,,) to F'rRs~' B~tl~ oP rDa~o, ~nB D/~a/i~, PTRsT B~r~ ~V'~ nORa (',Lender") of the same date and coveting the property descn~oed in thc Scctcrity Instrtm~t and located at: 370 WOODI~N nPWR DRrVIg AI~p'r~I]~, I~Z 831.28 [Property Address] THE NOTE PROVIDES FOR A CHANGE lin BORROWER'S FIXED INTEREST RATE TO AI~ ADJUSTABLE INTEREST RATE. ~ NOTE LIMITS TI~ AMOUNT BORROWER'S ADJUSTABLE liNTEREST RATE CAN CHANGE AT ~ ONE TIME AlxlD THE MAXIMU~ RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Iustruraent, Borrower and Lender fur~er covenant and agree as follows: ADJUSTABLE RATE AND MONTHI.y PAYMENT CHANGES The Note provides for an initial fixed interest rate of 4.250 %. The Note also provides for a chang= in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial £med interest rate I will pay will change to an adjustable interest rate on the first day of AUGUST l, 2008 , and ~e adjustable interest rate I w~H pay may change on that day every 12th month theraa~cr. The date on which my ini~al fLx~d intere~ rate changes to an adjustable interest rate, and each date on which my adjus~blc intere, si rat~ could change, is call~d a "Change Dat~." ' MIJLTIS~ATE irlX~DiADJU~T~j~LE IOk~ RID~-W~J One-Yur LIBOR-- ~ingie F~ly---~annie l~tat U~/~m l~t~menl DOC~AQ?i Form 31[? nocv~.v~x on/~o/~ool Page I of 4 (B) The Index Beg/nning with the fi~st Change Date, my adjustable interest rate will be based on an Index. The '~inde. x" is the average of interbenk offered rates for one-year U.S. dollar-denominated deposits in the London market ("IJROR'), as publ/shed in The Wall Street Journal. The most recent Index figure available as of the date 4:$ days before each Change Date is called the 'Current Index." If the Index is no longer available, the Note Holder will choose a new index that is bascd upon compm'able information. The Note Holder will give me notice ofthi.s choice. (C) Calculation of Changes Before each Change Date, thc Note Hoidgr will calculate my new interest rate by adding TI~O ~ OI~-FOWRTH percentage points ( 2.2 5 0 %) to the Current Index. Thc Note Holder will then round thc result M' this addition to the nearest one-eigh~ of one percentage point (0.125%). Subject to the l/mi~s stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amoum of the monthly payment that would be sufficient to repay the unpaid principal that I nm expected to owe at the Change Date in full on ~ Matmity Date at my new interest rate in subs~ntially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 6. :25 0 % or less than 2.2 50 %. Thereafter, my adju~ble interest rate will never be increased or decreased on any single Change Date by more than twa perccmtagc points from the rate of interest I have been paying for the preceding 12 months. My interest rate will ncvar be greater than 3.0.2 5 0 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the. first monthly payment date aider the Change Date until the amount of my monthly payment changers again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed interest rate to an adjustable interest rate and of any changes in my adjustable interest rate before the effective date of any change, The notice will include the amount of my monthly payment, any information required by law to be given to me and also the title and telephone number o£a person who will answer any question I may have regarding the notice. B. TRA~S~R OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. Until Borrower's initial fixed interest rate c]mnge~ to an adjustable inturest rate uuder th~ ~rns stated in Section A above, Uniform Covenant 18 of the Security Instrument shall read as follows: Transfer of the Property or a Beneficial Interest In Borrower. As used in this Section 18, "Interest in thc Property" means any legal or beneficial interest in the Property, including, but not lira/ted to, those beneficial interests uan,sfm'red in a bond for deed, comract for deed, installment sales contract or escrow agreement, ,the intent of which is the ~ransfer of title by Borrower at a future date to a purchaser. MULTISTATE FI~-~J/ADJUSTAiSLE RATE I~DI:R--~$ One-Yenr LiBOR~ Single Fnmily~Fnnnre b~e Unifurm Inrarumen( ~U~A0~ Page 2 of 4 ~ .VT~ 08/20/3001 F~rm 31.~ 6/01 GSO I/all or any part of the Property or any Interest in the Property is sold or transferred (or ff Borrower is not a natural person and a beneficial interest in Borrower is sold or lxansfcrred) without Lender's prior written consent, Lender may require immediate payment in full of all auras secured by this Security Instrument. Howcver, this option shall not be exercised by Lender/f such exercise is prohibited by Applicable Law. If Lender exercises this option, I~nder shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this pmiod, Lender may invoke any ,~i~edies permitted by this Security Iustmmcnt without further notice or demand on Borrower. 2. When Borrower's initial fixed interest ral~ changes to an adjustable interest rate under the terms stated in .qection A above, Uniform Covenant 18 of thc Security Instrument dc, scribed in Section B1 above shall then cease to be in effect, and the provisions of Uniform Covenant 18 of the Security Instrument shall be amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in thc Properly" means any legal or beneficial interest in thc ProI~'uiy, including, but not limited to, those beneficial interests Iransfcrrcd in a bond for deed, contract for deed, installment sales con~ract or cscrow agreement, the/intent of which is ~he transfez of litle by Borrower at a future dat~ to a ~urchasc~. I/all or any part of the Pmpcrty or any Interest in the Property is sold or ~ransferrcd (or if Borrower is not a natural per~on and a bencficial interest in Borrower is sold or transferrcd) without Lender's prior written consent, Lender may ~cquffe immediate payment in full of all s'um~ secured by lb_is Security Instnunent. However, this option shall not be exercised by Lender if such exercise is prolWoitcd by Applicable Law. Lender also shall nor exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to cvahiatc the in~cnded transfcl-cc as if a new loan wcrc being made lo thc transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To thc extent pcrmittod by Applicable Law, I.,cnder may charge a rcasonable fee as a condildon to Lender's consent to the loan assumption. I_~nder also may reqnire the transferee to sign an assumption agreemcnt that is acceptable to Lender and that obligates thc transferee to kccp all thc promises and agreements made in the Note and in this Security Instmmem. Borrower will continue to be obligated under thc Note arid this Security Instrument unless Lender releases Borrower in writing. If Lcndcr czercbcs thc option to require immediatc payment in full, Lender shall give Borrower notice of acceleration. Thc notice shall provide a period of not less than 30 days the date the notice is given in accordance with Secii~n 15 within which Borrower must pay all sums secured by lifts Security Instrument. If Borrower fails to pay these sun, s prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. Form 31~7 ~/OL BY SIGNING BELOW, Borrower accepts and agrees to the t~ms mad covenants contained itl this F~table:°-'~" .~:._ Rate Aider. - ,~-~p~m~ - p~AN/A. '~.~C~TTA - DAT~ - [~ ~ - ~u~IE L. L~CHETTA - DAT~ - IW~JLTISTATE Fi~D/AD~STADLE RATE RIDF.~--W~I One-Year UBOI%--Slnal~ Famfly--Fnlm~ Mae UMIorm I m~rnm~nt ~octm~.v~x xa/o3/20ox Page 4 of 4 FM'm 31S7 (,ml ~OL~ ~A ~0~ L: