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HomeMy WebLinkAbout8917553603. ~L~rmSOTA Dl. ~TB 200 BLOOM/*N~ON, MN 55435' 891755 RECEIVED LINCOLN COUNTY CLERK 03 JIJL 18 Pl'~ 12:35 Prepared By: W~LLS FARGO HO~ MOI~6A~, ,JEANNE 1919 DOUGLA.q,, O~JO~.A, 581010000 '[Si~m:e Abo,e ~ I.~ For lt~cord~g MORTGAGE DEFINITIONS Words uscd in multiple sections of [his document are defined below and other words ~re defined in Sections 3, 11, 13. li, 20 and 21- Certain rules legarding the usage of word~ ust~ in thi~ document axe · lso provided in Section 16: (A) "Security lnshaunent" m~ans ~his document, which is datcd3UL¥ lA, 2001 together with all Riders to this, document. (B) "Borrower" is l~AIm T, .~A2'~S htqD M2'RA BX~, 2US~ ~ WTFZ Borrower is d~c moz~gagor under this Security Instrument, (C) "L~d=" is ~S F~ HO~ MORTGA~, INC. ~adcr ~ a ~O~TION orgsnt~ ~d exisd~ ~r ~e laws of T~ STATE OF ~I~A 0027936574 ~OMING-Singlc Family-Fann~ Maal~e~e Mac UNI~RM INSTRUM~T Fo,m 3051 1101 /i56 Lender's~uidr=s~$ I~.o. l}oz 10304, ~:~9 t~O~'l~5, F.~ ~03060304 Lender is the mortgagee under this Secufig' lnstmm~t, (D) '~ote" ~ ~e pw~ no~ si~ed ~ Bo~ow~ md d~Y 14, 200~ ~c Note stat~ ~~ ~ 0o/~oo ~I1~ (U.S. $ * *'* ~ ~'2, S 70.00 ) plus ~er~t. Bo~ower b~ pro~s~ to p~ ~ d~t in rc~ P~ic Pa~ts ~d ~o pay ~e ~t ~ ~1 no~ la~ ~ A~ST 0~, 2033 . ~) "~o~y" ~ ~e pro~ aa Is d~cfi~ ~low ~der ~e h~g "T~sf~ of ~u ~ ~e Pmpe~." ~ '~an" ~ ~e d~t cvid~ bY Ae Note, pl~ int~t, ~y p~ent ch~g~ ~d late c~g~ due ~d~ (G) '~d~" m~As ~1 ~de~ to ~ S~ufity ~nt ~a ~ ex~ by ~er. %e follo~ ~d~s ~e to ~ ex~t~ by ~ower [ch~k box ~ ~pltc~le]: ~ VA Rid~ ~ Biw~My Pa~t ~der O~e~s) [~i~] (If) "Applicable Law" mea~ all controlling applicable federal, stye ;md local statu~, r~gulalion~, ordinances and ad~inistraiive :rules =nd orders (that have ;he effect of law) ss well as all applicable final, non-;pl~alabl¢ judicial opinions. (I) "Community Assodatlon iDues, Fees, nad Assessments" means Al dues, fees, ~se~m~ona and other charg~ that are imposed o~ Borrower or the Properly by a condominium association, homeowners asSOCiation or similar orgnni?a,tion. (J) "Electronic Fullds Transfer" means any transfer of fund~, other than a transa~on originatexi by check, draft, or similsr paper instrulnent, which iS illttiated through an electronic terminal, ~elephonic insmun~nt, con,liter, or ma~. tIic.h~ve so as to order, instruct or authorize a financial institution to debit or credit an account. Such term includes,' but is not limited ~o, point-of-sale wansfers, automaled teller machine transactions, =ansfcrs initiated by tclephone, wire ~ransfers, md sntomated clcsringhou~ aa~fers. (K) "Escrow Items" means th'~se items that are de~ribed in Section 3. (L) "l~is~laneous Proceeds," means any compcnsaion, settlement, award of dama/es, or procce~ paid by any third party (other ~han in~rallce proceeds paid under the covera/es deScribed in Section $) for: (i) damage to, or destruction of,. the Property; (ii) condenmation or other taking of ali or any part of the ProperV; (iii) conveyance in .lieu of condemnation; or (iv) misrepr~sen~ions of, or omis~,ions as m; thc value and/or condition of the Propen'y. IM) "Mortgaie Insurance" mc-ans insu~ce protecting Lender against the nonpayment of, or default on, ~he Loan. (bi) 'rPeriodic Payment" means ~he regularly scheduled amount due for (i) principal Md intere~ under thc Note, plus (ii) any amounts under Section 3 of this :~.urity Insu'urn~t. (O) "REDA' means ~/le Real Estate Settlement Procedures Aa (12 U.$.C. Section 2601 et seq.) and its implementhlg r~gulation, Reg~lalion X (24 C.F.R. Psr~ 3500), ~s they might be arr~nd~d from time to time. or any additional or su .c.cessor legislation or r~gulation thai governs the same subjec~ matter. As used in riffs Security Insh'th-ae~t, 'RF~PA' refers to all requirements sad reStrictions that are imposed in regard to a 'federally related mortgage loan" even if the Loan does not qualify ~s a 'federally relat~l moagage lo~n" under RF. SPA. O4~ ,') _ tc~_ c~ (~-6(WY) ~ooosl wos 2 o~ ~s Form 3051 1/01 (P) "Successor in Interest of Borrower" means ,-y paxty that has talcen title to the Property, whcther or no[ tha~ party has assuxned Borrower's obligations under the Note and/or this Security In~u'um~[. TRANSi~ER ON RIGHTS IN ~ PROPI!RTY This Security ~t secutis to Lender: (i) the repayment of the Loan, and fll renewals, cxtexuions and modifications of the Note; an.d (ii) the performallce of Borrower's covenants and agreem~ts under lifts Security Instrument and the N6te. For this purpose, Borrower cloes hereby mortgage, grant and convey to Lender and Leader'~ successors &nd a~sign& with power of sale, the following desenbed property locaed in the ¢OlYierY of LYmcOLN : LOTS 80 AND 94 OF THiN pRAT~ CANYON ESTATES, UNIT NO. 4, LINCOLN COUNTY, WYOMIN~ A~ DR.qcRIBI~D ON THE OFFICIAL PLAT THERROF. 457 TAX STAT~I~NT~ SH01I~. BE B~I'~T TO-- WELLS FARGO HOME MORTC, A~R, INC., P.0. BOX 10304, D~ Parcel ID N~ml',er: 17~ PlIIII~ DRIV~ ('Property Address'): [c~] which currently has the addrezs of [Str~tl , Wyoming 8~127 [zip Cod,] TOGETHER WITH all'. the improvements now or hereafter ereaed on the property, and all easements, ~purm~uc~, s~i fi~u~ now or hereailer s part of the property. All replacen~ents and additions shall also be covered by this Security Imtmment, All of the foregoing is referred to in this Security I~munem as the "Pr.operty." BORROWER COVENANTS ~a~ Borrower is lawfully seised of the estate hereby conveyed and has the fi~t to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property a~al~t all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limked variations by jurisdiction to constim~e a uniform security i,.~trurnent coveting real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree a~ follows: l, Paymeat o[ Prtndpal, I-retest, F~crow It,m% Prepayment Clmrtes, and Late Char~es, Borrower shall pay when due ~e principal of, and interest on, the debt ~videnced by the Note and any prepayment charges and hie eh,qges due under the No[e. Borrower .~hall also pay funds for ~v;'row Items pursuant [o section 3. Paym~ts due under the Note and this Security Instrument shall be made i~ U.S. currency. However. if any ch~.k or other itutrument received by Lender as payment u~der the Nou= or this Security Instrum~t is returnS'to Lender unpaid, Lender may r~quire that any or all ~ubsequent paym~ due under the Note and this Se~'ity Insu'ument be made in one or more of the following fornts, ~clccted by Lender: (a) cash: (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided my such check is dr~wn upon an institution whose deposits are Insured by a federal agency, i~trumentali~i or =ntiS; or id) Electronic Funds Transfer. Payments are deemed received by Lender when received at thc location d~ignaled in the Note or at such o~her location as may be desil~ated by Lender in accordance ~h ~he notice provisio~ in ~cdon 15. Lender may return any payment or partial payment if the payment or partial payments are ~cien~ brinl~ the Loan current. Lcnde~ may accept any payramt or partial payment insufficient to brinl~ the Loan current, withoul waiver of my rilhts hereunder or pr~udice to its rights to refuse such paym~t or partial payments izl the future, but I.~der is not oblll~a~l to apply such payn~ats at the time .such paymenr~ are accepted. If each Periodic Payment is applied ss of its scheduled due dat~, then Lender need riot pay interest on unapplied funds. Lender may hold such unapplied f~ds until Borrower make~ paymen~ to bring the Loan current. If Borrower does nor do so within a reasonable period of dmc, Lender shall either apply such funds or return them to Borrower. If not applied earlier, stu~h funds will be applied to r. he outstsndinl~ principal balance under the Note immediately prior ~o foreclosure. No offset or clail~ which Borrower miClt have now or in the fut,{re ~ai~s't Lender shall relieve Borrower from maldll~ payments due under the Note and thi~ Seclh'ity In~tllzment or peffomgnt the covenants and-a§reemellts secured by tlzis Security I~trument. il, Application oi' Payments or Pl'oceeds, Except ss otherwise described in this Section 2, all payments accepted and applied by L~der shall be appllcd in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amoun£s due under Section 3. Stldl payment~ shall be applied to each Periodic Payment in the order in which it becan~ due. Any l~__m~inlng sh,~! be applied ftrs~ to late charges, second ~o auy other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment flrom Borrower for a delinquent Periodic Payment which incl~dcs sufficient smoun~ to pay any late charge due, [he paymen~ may be applied ~o the delinquen~ payment and the lale charge. If more than one Periodic Payment i.~ outs~andin§, Lender may apply any paymcut received from Borrower to ~e repayment of die Periodic Paymen[s if, sad to the extent thai, each payment can be paid in full. To the extent thai ~Lny eXOets exists after the payment is applied to the M1 payment of one or more Periodic Payments, such excess may be at, plied to any late chartes due. Volulllary prepayments shall be applied first to any prepayment charges a~d then as described in th~ Note. Any applicaQo~l of palancntS, i~urance proceeds, or Miscellaneous Proceeds lo principal due under the Note shill no~ extend or p6stpone the due d~te, or chan~e the amount, of the Periodic Payments. 3. Funds fo~' Escrow Items. Borrower shfdl pay lo Lender on ~e day Periodic Paymenr~ are due under the Note, until the No~¢ is paid in full, a sum (the "Funds,) to provide for payment of amounts due for: (a) taxe~ and ~sessments and or.her iter~ which ca~ ~ttain priorib' over this Security Instrument as lien or encumbrance on the Property; Co) leasehold payment~ or around r=n~$ on the Property, if any; (c) premiums for any and all insurance reqldrcd by Lender under SecQon 51 and (d) Mortlal~ Insurance premiums, if any, or any sums payable by Borrower ~o Lender in lieu of the payment of Mor,.ga~e Instance premiums in accord~mce with the provisions of Section 10. These items are called "Escrow Items." At ofl~,izalion or az any time d~u4ng the term of the Man, Lender m~y require that Conm~unky Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees assessments shz]l be an Escroiv Item. Borrower shall promplJy furnish ~o I_~der all notices of ,mounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items u~less Lender waives Borrower's obligation to pa~' the Punds for any or all F~row ltcras. Lender may waive Borrower's obiigazion to pay to Lender Fk~ls for any or all Escrow Items at any time. Any such Waiver may only be In writing. In the event of such waiver, Borrower shall pay directly, wlteu and where payable, r. he (~-6(WY) iooos~ m,l~. a ~ ~ s Form 301;1 1/01 458 due for any Escrow Items for ~hich payment of PUn(Is has berm waived by Lender aud, if Lender requires, shall furnish to Lender recetp~ evidencing such payment within such time period u Lender may require. Boncower's obligation to make~ such payment~ and to provide receipts shall for all purposes be deemed to be a covenant ~nd ~rcem~t c0nlained in this security In~tnunent, as thc pMue "covenant sM agreement' is used in Section 9, If Borrower is oblige[ed to psy Escrow Items directly, pursua~! to a w~ver, md Borrower fails to pay the amount due for an Escrow Item, Lender may exercise i~s fights under Section 9 and pay s'u~h amount md BO ,r~'ower slmll then b~ obligated under .~xion 9 to repay m Lender any such amount. Iamder may revoke the waiver s~ to any or all E~serow Items ~t any time by a ~ofice given in accor~.~¢ w~th Section 15 md. upon such revocation, Borrower shall pay to Lender all Fumts, and in such ~moun~, flint ~rc then required under thLs Section 3. Lencier rnay, at any firne,'eolleet and hold Punds in m amount (a) sufficient to permit Lender to apply the Funds ~ the time specified under RESPA, and Co) not to exceed the m~imum ~llount a lender can require under RBSPA. Lender shall estimate the ~unount of l~unds due on the bash of current ~.~ md reaso~le esfimate~ of expenditure~ of future Escrow Item~ or otherwise in aeeonlan~e with Applicable Law. The l~mds shill.be h~ld in an in~itufion whose deposits ~ insured by a federal aget~y, instngnmtality, or entity (including Lender, if Lender is'm institution who~c deposits ai'e so insured) or in any Fed~al Home Loan Bank,. Lender shall apply the Funds to pay the Escrow ITem no l~ter than the time specified u~der RESPA. Lender shall not chv. tge Borrower for holding and ~:rplying the Fund~, mmuflly analyzing the escrow account, ,or verifying the Escrow Itches, unless Lender pays Borrower interest on the Funds and. Applicable Law permits Lender to m~:e such a dam'ge. Unless an agreement is m~:le in writi~g or Appltc~le Law requires interest to be p~fld on the Punds, Lender sh~l not ~ required to pay Borrower any inter~t or ei~rnin~s on ~e N~tlds. Borl'owcr ~nd L~del' can agl'~C in writing, however, that intere~l shall be peld on the Funds; ' 'I.~nder shall give to Borrower, without ch~ge, an annual accounting of the Punds as required by RESPA. If there is a surplus of 'Punds held in escrow, as defined under RESPA, Lender shall Kcount to Borrower for the exces~ fun~ in accordxucc with R.BSPA. If there is a shor~ge of [:~uds held in escrow, as defined under EP.,SPA, Lender slmll notify Borrower as required by RESPA, and Borrower ~ pay to Lender the amoum necessary to m~e up the shortage in accordance with RESPA, but in no ~r~ore thru 12 monthly payments. If there ks a deficiency of l~unds held in escrow, ~s defio~ under RESPA, L~der shall notify Borrower as requi~ by ILF. SPA, and Borrower shall pay to Lender the ~mount nc:c~sm-y to make up the deficiency in accordance with RESPA, but in no more than 12 monthly p~yments. Upon payment in full of all sums secured bY this Security In~rume~t, I~nder shall promptly refund to Borrower my Nunds held by Letter. 4. Chsr~cs; Liens. Borrower ~sJl pay ~I1 taxes, ~sessn~enrs, charges, fines, mul impositlon~ attributable to the Property which eau atcaLu priority over this Security instrummt, leaselaold payment~ or ground tent~ on lhe Property, 'if any, and Community Association Dues, Fees, and Assessments, if any, To the extent that the~e items ~ ~serow Ium~s, Borrower shill pay them in the m.mn~ provided in ~tion 3. l~rrower ~11 promptly discharge any lie~ which has priority over ~s Security Instrument unless Borrower: (~) agrees in writing to thc payment of the oblig~ion secured by the lien m a mauner acceptable to Lender, but only so long as Borrower is peffomaing such agreemem; Co) eonte~ the lien in good filth by, or defends ~gaimt mforcement of tbe lien in, legal proceedings which in I.~nder's opinion op6.rate to prevent the euforcemeut of the lira while those proceedings ~re pending, but only until s~ch pr(w. eedings a~e concluded; or (e) sec~es from the holder of the lien an agreement s~'tsfaetov/to Lender su~rainatin~ the lien to this ~:curity Imtnunent, If Lender determints that any p~ of the Property is subject to a lien whi~ can auain priority over this Security Immma~nt, Lender may give Borrower a notice identifying ~e ~E ol I~ Form ~051 1/01 lien. Within 10 days of the date on which that notice Is given, Borrower shall satisfy the lien or take one or more of thc 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 Lend~ in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements llow existing or hereafter erected on the Property insured against loss by fire, bazar& included within the term 'extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires inmrance. This insurance shall bc mattltained in the azllollIlls (inchidillg deductible levels) and for the periods that l.~nder require~. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. TM insurance carrier providing the insurance shall be chosen by Borrower subject tn Lender's right Io disapprove Borrower's choice, which right shall not be exercised unreasonably. 1 ~'~der may require Borrower to pay. ia connection with this Loan, either: (a) a one-time charge for flood zone determination, c~rtificsIion and tracking services; or (b) a one-time charge for flood zone determination and certifieation services and .subsequent charges each time remappings or similar changes occur which reasonably might affect such detenllination or certification. Borrower shall also be responsible for the payment of any fees imposed, by the Pederal Emergency Management Agency in connection with the review of any flood zone def, errnlnation r~sulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insuran~ coverage, at Lender's option and Borrower's expeme. I. mader is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contcnt~ of the Property, against any risk, hazard or liability and might provide greater or les~er coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of inmrance thal Borrower could have obtained. Any amounts disbursed by L~der under thi: Section $ shall become additional debt of Borrower secured by this Security Inset. These amounts .~hall be~r interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lend~ to Borrowe~ IequeiB~ payment. All insurance policies r~quired by Lender and renewals of such policies shall be subject to Lender's fight to disapprove such policies, shall include it standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the polici~ and renewal eerllficates. If L~lder requires, Borrower shall pronaptly give to Lender all receipts of paid prc, mium~ renewal notices, If Borrower obtains any form of insurance coverage, not othc,~vise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard morq~age clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the lnsurauc¢ carrier and Lender. Lender rIlay make proof of loss if not made promptly by Borrower. Unless Lender and Borrower othc-l-wise in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and I. znder's security is not lessened. During ~ch repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been compl~ed to J~mder's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progr~s payments as the work is completed. Unless an agxcement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds. Lender shall not be required to pay Borrower any interea or earnings on such' proceeds. Fees for public adjusters, or other third panics, retained by Borrower shall not be paid out of the insllranee proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not eennomically feasible or Lender's security would be les~med, the insurance proceeds ~hall bc applied to the sums secured by this Security Institmlellt, whether or not then due, with (~I~.6IWY) iooo~ P~9~ ~ ~ ~ Form 30Sl 1101 460 0 :755 '-- 461 the excess, if ~ny, paid ~o Borrower. Such insurmce proceeds sh~ be applied in thc order provid~ for in So. ion 2. If Borrower abandou~ the Property, Lender may file, negotiate and settle any available in.mrance C]:~im alld l'e_.lated maHel'~. If Bollowt~l' do~ not re,'pond within 30 days to a notice from Lender that the insurance carrier has off&red ~o .settle a claim, then Lender may negotiate and ~e~e the clsim_ The 30-day padod will begin when the notice is given. In either event, or if Lender ac. qulr,'~ the Property under Section 22 or otherwise,' Borrower hereby asslgm to Lender (a) Borrower's rights w any insurance proceeds in an amount not to ~xc_,~__ the amounts unpaid under the No~e or this Security Imtmmcnt, and Co) any other of Borrower's rights (other than the fight to any reflmd of unearll~xi premium~ paid by Borrower) under all insur~celpoli¢ies coveting the Property, insofar as ~uch rights are at~licable to the coversie of the Property. Lender may use the instance proceeds either to repair or restore the Properly or to pay amounts unpaid under the Note or this Security In~trum~t, whether or no! then due. 6. Occupancy- Borrower stroll occupy, establish, and use the Property as Borrower's principal realclence within 60 days after the exertion of this Security lmw~me_nt and ahall continue to occupy Propeay a~ Borrower's principal residence for a~ least on~ year after thc date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circums~ce~ exist which are beyond Borrow~'s control. 7. Prmervaflon~ Msintetmnce and Protection of th~ Property; hl.spections. Borrower shall not demroy, daw,age or impair the Property, allow the Property w deteriorate or commit waste on the ProPerty. Whether or no~ Borrower is residing in the Proper~y, Borrower shall rnsintaln the Property in order to prevent the Property 'from deteriorating or decreasing in value due to its condition. Unless it determined pursuant to $~ction $ thai r~pair or restoration i~ not economically rinsible, Borrower promptly repair the Property, if a~m~ged to avoid fiirther d~,~-rioration or dama/~e, If lnsurmc, e or condemnation proceeds are paid in connection with damage to. or the t:~ldng of. the Prop~-ty, Borrower shall be responsible for repairing or rt:storing thc Property only if Lender ha~ released proc. e~Ls for such purposes. Lender may disburse proceeds for thc repairs and re..storation in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation procced~ are not sufficient to repair or res.tom the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. La~der or irs a~eat may make reasonable ~triea upon and i~pection~ of the Prop~rty. If ir has reasonable carrie. Lender may inspect thc interior of the improvctrumts on the Property. Lender shall give Borrower notice at thc tim~ of'or prior to such an interior Inspection specifying such reasonable csuse. g. Borrower's Loan Appliragion. Borrower ahall be in default if, during the Loan ~plicscion process, Borrower or any persons or entiti~ acting at the direction of Borrower or with Borrower's knowledge or con,mt gave ,m,aierially false, misleading, or inaccurate information or ~tatemaus to Lender (or failed to provide Lender with material information) in connection with the Loan. Maieriai represen~ions include, but ~cro nor limited ~o, r~pr~rations concerning Borrower's occupancy of the Prop~r~y s~ Borrower's principal residence. 9, Protection of Lendo"s lnter~t in th~ Property and Rl/hts Under tbt~ S~nuity Imtnun,,,t. If (a) Borrower fails to perform the covenants and aireem~ts contained in this SecurtD' I.n~-tunent, Co) there is a l~gal proc~xling chat might significantly affect Lender's interest in the Property and/or figh~s trader this ~curity Immtment (sucll as a prec,:ding in bankruptcy, probate, for condemnation or forfeintre, for enforcement of a lien which may attain priority over ~is ,~;uriry Imu-um~t or to enforce lawa or r~/ulaiion.s), or (c) Borrower hal abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security lmtmment, inclutlln! pro~ecttnt and/or assessing the value of the Property, atui securing and/or repairing the Prol~rty. Lender's actions can include, but are not limiu~l to: (a) paying any ~urns s~cured by a lien which has priority over ~ Security Inscmme~!; Co) appearing in court; and (¢) paying reasonable .d62 attor~ey.C fees to protect its interest in the Property and/or rights under this Security Instrument, i~acluding its secured position in a bankruptcy proceeding. Securing tho Property includes, but is not limited to, enteri~ the Prolx~rty to make ,repairs, cha~e lockS, replace or bosrd up doors and windows, drain water from pipa~, eli~nln.te building or other code violations or dangewus conditions, and have utilities mined on or off. Although Lender may take action under ~ Section 9, Lender do~s not have to do so and is not under any duty or obligation to do so, It is agreed ~u Lender in.rs no liability for not taking any or all actions authorized under this SeaSon 9. Any smount~ disbursed by Lender under this Section 9 shall become additional debt of Bon~wer secured by this Security Instrument. The~e amou,t~ shall b~z interest at the Note rate from the date of disbumemea! and shsil be payable, with such i~terest, upon notice from Lender to Borrower reque.sfing payment. If thLs Security In,sl~ument is on s leasehold, Borrower lhsll amply with all the provisions of the lease. If Borrower acquires fee title to. the Property, the leasehold and the fee title shall not merge unless Lender a~rees to thc merger in writing. 10, Mortgage Insurance'. If Lender required Mort§age lnstu~nce ~ a condition of m~ng the Loan, Borrower shsll pay the premiums r~luir~ to maintsin the Mortgai¢ hsurau~ in eff~-'ct. If, for any reason, the Mo~gage In~lrance coverage required by l_~nder ~ ~o be available from the mortgage insurer that previously provided ~uch insurance ~d Borrower w~ required to make separately designated payments toward the preminm.s for Mor~g~e Insurance, Borrower ~all pay the premiums required to obiain c~verage substantially equivalell~ to th= Mor~age Insurance pr~io~ly in eries, st a cost sub~aatially equivsiem ~o the cos! to Borrower of the Mortgage Insurance prevto~ly in effect, from ~n alternate mortgage h~'urcr selected by lender, If ~bbtall~ally equival~lt Mortgage In.mra~ce coverage is not available, Borrower shall continue to pay w I.~lder the amoun~ of the separately d~il~ated payments were due when the b~u'snce corette ceded to be in effccL l.~'nder will acc:pt, use and re,In these payments aS a non-rofundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, not-witlura~ini the fact that the Ix, an is uhim~ely paid in full, and Lender shall not be required to pay Borrower any inter~t or ea.rni~s on such loss reserve. Le~der cas no longer require loss reserve paymems if Mortg~e Iusu~ce cowrage (in the amount a~d for the l:~rlod that Lender require) provided by an ins~er selected by I.~der again becomes available, is obiained, and Le~der requires separately desigrated payments raw.x'd ~he premiums for Mortgage Insurance, If Lender requir~ Mortgage Insur-~.nce ss s condition of makt~ the Loan and Borrower was' required to make sep~.rsiely desil~ated payrae~ loward the premi~ for Mortgage Insuran~, Borrower shsll pay the premiums requir~ to m.simain Mortgage Insurance in effect, or ~o .provide a ~on-refundable loss reserve, tmtil Lender's requlremem for Mortgage Insur, mc~ ~ds in accorOace with any written agreement betwe~ Borrower and Lellder providln! for such telmhlation or until r. Crmi.'nsfion is l'~cluired by Applicable Law, Nothing in this Sec6on 10 affects Borrower's obligation to pay ia~erest si the rate provided in the Note, Moniage In,~urancc reimburses Lender (or any en~ity that purchases the No[e) for certain los.~.~ ir~y ~ if Borrower da not l'~Sy the Loan a,s agl'eed. Borrower is not a psr~y to the Mortgage Insurance. Mortgage im'urers evaluate their total risk on all ach insurance in force from ~ to time, and may enter into agreements with otlicr parties' that shar~ or modify their risk, or reduce losses. These agreements are on terms and conditions tha~ are satisfactory to the mortgage insurer and the other party (or partie~) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have awilahl¢ (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or raight be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for. sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a shsxe of the in~'urer's risk in exchange for a share of the. premiums paid to the Insurer, the arrangement is often termed "captive reinsurance." Farther: (a) Any such agre~m~ents will ~ao~ affect the mounts that Borrower has a~n'eed to pay for Mortgage Insurance~ or any, othex terms of tha Loan. Such agreements will not increase the mount Borrowea' will owe for Mortgage Im-ura~ce~ ariel they will not entitle.,Bjzl~ower to any re{un& 463 ih) Any such agreem~ will not affect the fights Borrower has - i~ any - with resp~t to the Mort~/le Insurance und~ the Homeowners Protection Act of 1995 or any other law. These righlz may i~cludc the right to ~tve certain disclosures, to request ,,nd ob*~i~ cancellalion of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to reedve n retund of any Mortgage Insurance premium~ that were unearned at the time of such cancellation or termin*tion. 11. Assignment of l~rucellaneOuS Proceeds; Forfeiture. Alt Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaomus Proceeds shall be applied to te. storation or repair of the Property, if the reztoralidn or r~pair is ecollo~lcslly feasible and I_~-nder's s~'~u'ity i~ not leavened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Prol:~n'ry to ensure the work haS been completed to Lender's satisfaction, provided that such inspection sh~ll be undertaken promptly. I.znder may pay for the repairs and re.oration in a sinile disbursement or in a series of progless payments as the work is complet~cl. Unlc~ an ~ ii made in writing or Applicable Law require~ interest w be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any inte~ or earnings on such Miscellaneous Proceeds_ If the restoration or repair is not economicalIy feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secur~i by this Security Instrument. whether or no! the~ due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order pwvid~ for in Station 2. In the ~ve~ of a tot~l't~ing, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or no~ then due, with the excess, if any, paid to Borrower. In the ~,en~ of a partial r~king, destruction, or loss in value of the Property in which the fair rnarkg value of the Property immediately before the pan~ u~cing, destrucQou, or loss in valu~ is equal to or greater than the amount of the roms secured by this Security Instnun~t immediately be/ore the partial t~idn$, destruction, or loss in value, unless Borrower and Lender otherwise agree ia writing, the sums secured by this Security Instrumtmt shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums sec.'ed immediately before the pardal t~k-ing, destruction, or loss in value divided by (b) the fair market value of the Properly immediately before the partial oidng, destruction, or loss in value. Any balance shall be paid to Borrower. In the ~vent of a pardsl ,~t.i,~g, destruction, or loss in value of the Property in which the fair value of the Property immediately before the partial taking, destrucffon, or loss in value is less than the amount of the sums secured i~-~-aediateiy before the partial taking, destruction, or loss in value, unless Borrower and I.~.-nder otherwise agree in w~iQng, the Miscellaneous Proceeds shall be applied to the surm secured by this So. curlty Imlrum~ whether or not the sums are then due. If the Property IS abandoned by Borrows, or if, after notice by Lender to Borrower that the Opposing Parry (as defined ih thc acm scn~-n~) often to make an aw .a~d t,o settle a claim for cl.,amazes: Borrower fails to respond to I.~ndcr within 30 days afar the date the nouce is given, Lender ~s aumorizea to collect and apply the Miscellaneous Proceeds either to re~toration or repair of the Prolm'v] or to the ~ums s~'ed by this SecurityiInstrument, wbefl~r or no~ the~ due. "Opposing Party' mesm thc third party tha~ owes Borrower Miscellaneous 'Proceeds or the party agaimt whom Borrower has a right of am-ion in regard to Miscellaneous Procamts. Borrower shall be in default if any action or proc~d~g, whether civil or criminal, is begun that, In Lender's judgment, could result in forfeiture of thr Property or other material impairment of Lender's interest in the Pmpervj or fights under this Security Imu-ument. Borrower c~n cure such a defaul~ and. if acceleration ha~ occurred, reim~ate az provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgumnh precludes forfeiture of the Property or other material tmpaimumt of Lender's interest in the Property or righ~ under this Security hsUmm~r. Th~ proc~xls of any award or claim for damage~ ~ are antibutsble to the impairment of l_a'nder's intrrest in the Property are hereby ~signed and shall be Paid to Lender. All Miscellaneous Proceod~ tha arc not applied to restoration or repair of the Property lhall be applied in thc order provided for in $~c~ion 2. ~"~ (~.6(WY) 1o0~1 ~'age t 0¢ ~ Fo;m 3051 1/01 464 12, Borrower Not R~leased; Forbearance By Lender Not a Waiver. Extension of the time for payrne~t or modification of a~,' rtization of the ~uns secured by this Security Instrument granted by Lender to Borrower or any Successor,in Interest of Borrower shall not operate to release the liability of Borrower or any Successors ir~ Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of!Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums sccur~ by this Security ln.stnunent by reasoll of any demand made by t. he original Borrower or shy Successors in Interest of Borrower. Any forbearance by Lender in excreting any right or remedy including, without limitation. Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less ~ the amount then due, shall not be a waiver of or preclude the exemise of any right or remedy, 13, Joint and ,Several Linb~ty; Co-signer~; Successors and A~igus Bound. Borrower covenanls and agrees that Borrower's ob.ligations and liability shall be joint .nd several, However, any Borrower who co-signs this Security hlstnmleilt but does not execute ~he Note (a "co-signer"): (a) is co-signing this Security Instnunent only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security lnstnu~nt; Co) is not personally obligated to pay the sums secured b~. this Securioy Insmxment; ,nd (c) agrees that Lender and any other Borrower can agree to extend, modtfy, forbear or make any accommodations with regard to the mrms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any gucr~sor in Interest of Bonow~ who Borrower's obligations utlder ,this Security ~t La writing, and is approved by Lender, shall obtain all of Borrower's rights and tt~nefits under this Seem'try Inarum~t. Borrower shall not be releal~ed from Borrower's obligations and liability under this Security Instrument unless Lender agree~ to ~uch release in writing. The covenants and agreements of this ,~curity Instrument shall bind (except as provided in Section 20)mid benefit the successors and assigns of Lender. 14. Loan Charge, Leveler may charge Borrower fees for services performed in connection with Borrower's default, for the pilrl~e of protecting Lender's interes[ in the Propexty and fights under this Security Instrtmlent. including, but not limited to, attorneys' fees, property im-pecrion ~nd vshmflon fees. In regard to any other fees. the absence of expr~s authority in this ,Security Instrument ~o charge a specific f~ to Borrower shall not be construed as a prohibition on the charging of such fee. ! -*oder may not charge fees thai are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets rraximum lo:m charges, and thai law is Finally Interpreted so that the interest or other loan charges collected or to be collected hi cotmection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necess~y to reduce the r. haxge to the permitted limit; .and Co) any sums already collected from Borrower which exceeded permitxed limlt~ will be refunded to B~rrower. Lender nlay choose lo make this refund by reducing the principal owed under the No~e or by maki~ a direct payment to Borrower. If a refund reduce~ principal, the reductioo will be treated as ~ partial prepaymen~ without any prepayment charge (whether or not a prepaylllerit ch!rge is provided for under the Note). Borrower's acceptance of any such re. fund made by direct payment to Borrower will constimm a waiver of any rlght of sctlon Borrower might have arising out of such owrcharge. 1~. Notices. All notice~ given by Borrower or Lender in connection with this Security Instnunent must be in writing. Any notice to Borrower itl collllection with this Security Instrulllent shall be deemed to have been given to Borrower when lllailed by first class mall or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to si1 Borrowers unless Applicable Law expressly requires otherwise. Thc notice address shall be the Property Address unless Borrower has designafixl a substitute notice ~ldr~s by notice to Lender. Borrower sb~ll promptly notify Lender of Borrower's cha~e of address. If Lender specifies a procedure for reporting Bon-ower'~ change o! address, then Borrower shall only report a change of address through that specified procedure. There m~y be only one designated notice address under this Security Inscrm~lent at any one time. Any notice to Lender shall be giv. eit by delivering it or by mailing it' by f~rst class mail to Leader's sts~ed herein unless Lender ha~ designatecl ailother address by notice to Borrower. Any notice in connection with this Security Instrument shall no~ be deemed to h~v¢ been given to Lender until actually received by Lender. If :my notice requL,~ by this Security lratrument ii also required under Applicable Law, the Applicable Law requirement will satisfy the cor~ponding requirement under this Security (~.-61WY) (ooo~ ;,~;~ ~o ~ ~ Form 3051 1701 465 16. Governing Law; Se. erablltty; Rules of Comtruction. This S~curity lnCmanenl daall be governed by f~ral law and the law of the juri~liction i~ which the Prolm'ty is lo~ated. All ri~u ~d obligations co~*~tru.l in thi~ Security Imtrument are subject to any r~lu~ments and limittttons of Applicable Law. Applicable l.;aw might explicitly or implicitly allow the parties to agree by eonu'act or it might be silent, but such silence shall not be contrtfaed as a prohibition against agreem~t by contract. In the event that any provision or clau~e of this Security Instrument or ~ Note conflicts with Applicable Law, such conflict shall not a~fect other provisions of this $ccarity I~zument or the Note which can be 'given ~fect without the conflicting As used in this $ccttrity Instruzn~t: (a) words of the masculine gender Mall mean and include corres~ndin~ neuter words & woaL~ of the feminine gender; (b) words in the sLngular shall ~ and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 1'/, BorroWer's Copy, Borrower shall be given o[te copy of the Note and of this Security Instrument, 18. Tnm~ex of the Pr6pcrt7 or a Beneficial lnter~t in Borro%r. As used in this Section 18, "Interest in the Property" mean~ any legal or beneficial interest in thc Property, including, but not limited to, those beneficial interests t~ferred in a bond for deed, contract for deed, installment sales contract or ~$crow agrce~t, the intent of wlajch is the traz~fer of title by Borrower at a future date to a p~cbeser. If all or my part of the Property or any Inter~t in the Propert~ is sold or transferred (or if ~orrower h not a natural person and a beneficial mlermt in Borrower is sold or transferred) without Lender's prior written con_~at, ][.~der may require Lalttlcdiate payment La filll of sll sums sectJged by this Security Instrument. However, this option shall not be exercised by I~nder if such exercise is prohibited by Applicable I~w. If Lender exercises this ,opt{on, [.elXler ~.~11 give Borrower notice of acceleration. The notice shall ~ovide a l~lod of not less than 30 days from the date the notice is given in accordance with Section within which BOITowcr mn~ pay all sums secured by this Se.~rity lnatnmaent. If Bon'ower fails to pay thee sun~ pfioi to thc =xpiration of this period, Lender may invoke any remedies permitted by this Security In~tnar]e~t without fi.l.tlher nntice or demand on Borrower. D, Borrower's Rig]at to Reinstate After Acceleration. If l~orrower meets cerratn conditions, Borrower shall have the right tO lmve enforcement of this ~ecurity Instrument diw..ontinued at any prior to the earliest of: (a) five days before sale of the Properq' pursuant to any ~wer of sale contained in ~ Security Instrum~t: CO).such other period as Applicable Law might ~pectfy for the termination of Borrower's fight to reinstate: or (c) entry of a jttdgment enforcing this $~,zrity Instnunent. Those conditions are r_h_~r Borrower: (a) p~s Lander all sums which then would be due under this Security In5trtlll'~alt and the Note as if no acc~eration hax:l occurred; CO) cuma any default of any other covenants or agreements; (~) pays ~ll expea,ses inctm~ in cnforclng this ~ec~lty Insmunem, including, but not limited to, reasonable attorneys' fees, .property in.~aec[ion ~ valuation fees, and other fees incurred for thc purpose of protecting Ledger's interest in the PrOlm'ty and fights under tl~ Security Instmmem; and (d) takes such action ~ Lender may reasonably requite to a~sure that Lender's interest in the Propaly and rights under this Security Insmma~, and Borrower's obligation to pay the sur~ secured by this Security Instrument, shall continue unchanged'. [xlader may require that Borrower pay ~uch ~lstatement sums and expense~ in one or more of the following forms, as selected by I ~,Mer: (a) cash; Co) money order; (c) certified check, bank checi;, treasurer's check or cashi~'s check, provided any such check is drawn an institution whose d~osits 'arc insured by a federal agency, instntmemality or entity; or (d) FAectroMc F~tds Transfer. Upon reinstatement by Borrower, this Security Insmmaent and obligations secured hereby shall remain fully effective as if no acceleration hall occurred. However, this fight to reins'tam shall apply in the case of acceleration under Section 18. 20. Sale of Notel Cha~e of l.,oan Servicerl Note(: el Grim, ance. Thc Note or a partial interest in the Note (together with ~ Security Instrument) can be sold one or more tim~ without ,~,rior notice to Borrower. A sale miS]at result i~ a chang: in thc entit7 0movrn ~ the "Loan Serviee~ ) that collects P~riodic Payment~ due under the Note and ~ $ccurlty Instnmaent and performs other mortgage loan servicing obligations under the Note, this Security Insmm',em, and Applicable Law. There also might be one or more change~ of the Loan Servicer urn-elated to a isle of the Note. If the~e h a change of the Loan $cCVicet, Borrower will be liven written notice of the change which will state the name and address of new Loan Servicer. the addr~s to which payments should be made_and~any other information RF..SPA 466 requires in connection with a notic~ of transfer of sa-vicing. If the Note is sold and thereafter the Loan b serviced by a Lorn Se~icer o~her ~ the l~-ch~er of the Note, the ~ortgage loan servicing obligations to Borrower will remain with the Loan Servicer o~ be transferred to a successor Loan Servicer and arc not ~uned by the Note purchaser unless otherwise provided by thc Note purchazer. Neifl~er Borrower nor Lendrr may commence, join, or be joined to any judicial action (az either an individual .litigan~ or the member of a cla~s) that arl~ from the other party's actions pursuant to ~ ,~:curity Inswament or that all.eges that the other party has breached any provision of, or any duty owed by reason of, this ,~urity Instrument, until tach Bom~er or Lender h~s nozified the other, p~,v (with such notice given in compliance with the requir~men~ of Section 15) of such alleged breach and a/forded the other party hereto a reasonable period after the giving of ~cb notice to take corrective action. If Applicable Law pr°vides a time period which must el~se before c. ff,~in action can be t~ken, that dine period will be deemed to be reasonable for purpose~ of this pazagcaph. The notice of acceleration and oppormnky to cure given to Borrower pursuant to Section 22and the notice of acceleration gi~,en to Borrower purraant to Seaion 18 shall be deemed ~o ~tisfy the notice md opportunity to ~ke corrective ac'don provhions of this Section 20. 21. ~'dous Substances. As used in this Section 21: (a) "Hazardous Substances' a~e.those subs~nces defwcd ~ toxic or hazardous substancez, pollutants, or wasu~ by Envi.ronmen~ Law and cbc following ~ubstances: gasolin.~, kerosene, other flammable or toxic petroleum products, toxic pe. zficidez and herbicide, volatile solveli~, m~terial$ coot~tnini a~be~os or formaldehyde, and radioactive materials; CO) 'Env/ronmental Law" meam federal laws and laws of the jurisdiction where the Propc~y is loc.~ed that rdate to health, ~'e~y or environmental protection; (c) "Environmental Cleanup" include8 any response action, mnedial aciion, or removal action, az defined in Environmen~ Law; and (d) ~n 'Environn~n~al Condition" means a condition thz~ can cause, con~bute to, or otherwise trigger an Environmen~l Cleanup. Borrower ~d~all not cause or permit the pre~ence, u~e. disposal, storage, or release of any Haza~ous Substances, or threaten w release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, Co) which creates an En~iromnental Condition, or (c) which, due W the pre~ence, u~e. or release of a Hazardous Substance, crestes a condition that adversely affecrz the value of the Property. Thc preceding two sentences r, hall no~ apply to the presence, usc, or storage on the Propcw/ of small quantltie~ of Hazardou~ Substmces that are generally recog-~,~ to be appropriate ~o normal residential use~ and to maintenance of the Property (iB~llldlnE, but not limited to, hazardous substancez in container produc~). Borrower droll promptly give Lender wrlt~n no,/ce of (a) any inv~tigation, claim, der-~n, lawsuit or other action by any iovemmenud or r~gulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower ha~ acm~l knowledge, Co) any Environmental Condition, including bu~ not limited w, any ~illing, leaking, di,~fl~argc, release or threat of rele~e of any Hazardous Substance, and (c) any condition caused by thc prezc~ce, u~e or rele~e of a Haz~rdou~ Substance which ~lvcr~cly affecis the value of the Property. If Borrower learns, or is notified by any governmen~ or reguhtory authority, or any private pa~y, tha~ aay removal or other remedi~on of any Hazardou~ Substance affecting the Proper~y is nece~ary, Borrower shall promptly t~ke all necessary remedial actions in accord,~nce with Environmen~ Law. Nothing herein shall create any obligation on Lender for an £nvironmenu~l Cleanup. ~ -. ."~- / ~. ~ F~rm 30B1 1/01 NON-UNIFORM COVENANTS. Borrower and Lender further covenanl and ~ si follows: 2:Z. Acceleration; R~nedles. Lender shall ~ve notice to Borrower prior to acceleration fulinwin~ Borrower's breach of any covenant or a~eement in this Security Instrument (But not prior to acceleration under Section 18 unless Applicable Law provides othcrwisc). Thc notice shall M~,ciry: (a) the default; (B) the aciion required to cure the default; (c) a dat~, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cm,e the default on or before the date specified in the notice may re~ult in acceleration of the s.m~ secured by this Security Instrument and sale of the Prol~rty. The notice shall further inform Borrower of the fight to reinstate after accel~-ation and the fight to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale, If the default i~ not cured au or before the date specified in thc notice. Leader at its option may require immediate payment in full of all sums secured by this Security Instrument without ftgther dcffmnd and may invoke the power of sale and any other remedies permitted by Applicable Law, Lender shall be entitled to collect all expenses incurred in pursuing thc remedies provided in this Section 22, including, but not limited to, rcnsot~nhle attorneys' fees al!d costs of title evidence. If Lender invokes the power of salc, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the ~ale to Borrower in the manner provided ltl ~'~lon 1S. Lend~' shall publish the notice of sale, and the Propecty ~hsll be sold in the rpn,¶ner prescribed by Applieable Law. Lender or its designee may purchase the Property at any sale, The proceeds of the sale shall be applied in the foliowin~ order: (a) to ail expenses of the sale, includinff, but not limited to, reasonable attorneys' fees; (b) to all sun~ secured by this ~urity In~-ument; and (c) any excess to the person or pcrsau~ legally entitled to it. 23. Release. Upon paynient of El s. rn~ secured by chis Security Instrument, Lender shall release this Security Instrument. Borrower sh~ pay any recordation costs. Lende~ n~y charge Borrower a fcc for releasini this Security Instrument, but only if thc fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivea-s. Borrower releases and waives all rights under ~nd by vimm of the homestead exemp~on laws of Wyoming,.: Form 3051 1101 BY SIGNING BELOW, 'Borrower ~ceepts ~ud agrees to thc t~xns a~d ~vonant~ contained in tiffs Seculity Imm'ument and in shy,Rider cxemited by Borrower ~nd rocotded wi~ it, Witnesses: PAUL T. ~AYNE (S~) -BOITOWef (se,~) (se.d) -~orrowe~ -Borrower (s~) (Seal) -BorrOw~ -l~orfow~ (se~) (S~l) Fo~m 3051 1/01 STATE OF W%'OMING, ,.z~corm Th: foregoin~ i~r_nm~mt w~ ~cknowledged ~for~ me uhi~ County ss: 14th day of July, 2003 1051 1/01 i7 5 4 7 0 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVBLOPMENT R~ER is made this 't4~ day of a-'o%x, 3003 , stat is incorporated into and shall be d~med to ~-nend and supplemem the Mortgage, Deed of Trust, or Security De~! (thc 'Security Instrument") of the same c[~te, given by the u~der~igned (the 'Borrower') to socure Borrower's Note lo (the "Lender") of the same date and covering the Property de~cribed in the Security Instrument and located at: [Prol~ny A~re~l The Property include, but is not l~t~ to, a p~l of l~d ~v~ ~ a dwell~g, tog~ ~ o~ ~ p~ls ~d ~ ~n ~ ~d f~fliti~, ~ d~cfib~ ~c~s, Co~z~zO~ ~ ~8~I~IO~S (~e "D~I~on"). ~e ~ is a p~ of a pl~ ~t devd~t ~ ~ [N~e of Platmed Uni~ Developmeat] (the "PUD"). ~e ~o~ ~ ~clu~ Bo~w~'~ ~r~ ~ ~e ho~ ~soci~on or ~vfl~t enti~ o~ or ~nag~ ~d w~n m~ ~ f~fies of ~e PUD (~e "~m As~cl~on") ~d ~e ~, b~efiu ~ p~s of Bo~wer's ~te~, ~ CO~~, ~ ~ition to me ~v~ ~d a~ ~de ~ ~e ~V ~, B0~ow~ ~d ~der ~ ~v~t ~d a~ ~ fo~ows: A, ~ ObBga~om. ~wer ~1 p~o~ ffi of ~wer's obligati~ ~d~ ~e PUD'~ Consfim~t D~u. ~e "Confrere D~m~u~ ~e ~e (i) D~lmtion; (fi) ~icl~ of M~on, ~ ~ or my ~Mvfl~t d~em which cr~ ~e ~en As~on; ~ (~) ~y by-laws or o~ ~ or ~M~om of ~e ~m As~eiation. ~et ~h~ll pro~y pay, due, fll du~ ~d ~ts ~osed p~u~ m ~e Co~im~t D~. MULTI6TATE ~O RIOER - Single Family - ~n~ Mae~e~le Mst UNIFORM IN~RUM~T ' F~ 3150 1101 Page 1 of 3 Inl~als:~ ~/ ~TR (~08) VMP MORTGAGE FORMS - {800)521-7291 471 B., Prop,:rty Insurance., So long as thc Owners Assodadon mainm, ms, with a generally ~.ccpr. ed hx.~.eance carrier, a "master" or "blanket" policy insuring the 1;'rope~ which is sathfectory u) Lender aud which provides insurance co¥cragc in thc amounts (including deductible levels), for the periods, and ag~ust loss by fire, hazard' included within the m'm 'extended covm'as;e,' and ~y other hazards, including, but ~ot limi~ w, e~,thq,~tees and floods, for which Lender requires in~urancc, then: (i) Lender waives Ihe provision in Seaion 3 for the Periodic.. Payment to, Lender. of the yearly premium installments for property kmirm~c~ on rim ProperU; and 00 Borrower s obhEaflon under ~cuon 5 ~o n*~nts~n property in~ ,doverase ou thc Property is ~ satisfied to the extent that thc required coverale is provided by the Owners Association policy. What Le~der requires as ~t condition of this waiver can chante duflnS the term of the loan. Borrower shall ~ive Lender prompt notice of any lapse in required propen'y [ns~ cove. m~e provided by the mas~er or blanket policy. In the event of a distribution of property ~surance proceeds ~n lieu of reswr~ion 'or r~pair following a loss to th~ Property, o~' to common area~ a~d fecilities of tho PUD, any proce~ts payable to Borrower ~ h~'eby ~ssigned ~nd sJ~l be [mid to LePer. Lea. er shall apply the process to the sums secured by tho Security Insu'umen~, whether or not then due, with the excess, if any, paid to Borrower. (2. Public Liability Instance, Borrower _~! take such ~:tious ~s may be r~aso~bl~ to insure that the Owners Associ~ion mai,u~a ~ public l~abiliU inaur~uc~ policy ~ceep~able in form. amount, and ex~-m of coverage ~o Lender. D. Condemnation. T~e ~proceed~ of any sw~d or claim for. dmmges, direct or conse~uontial, payable to Borrower ~u con~ecuon with any condomuat~on or other t~g of all? sn~ pan ,of the Pr. ope~. or the corm~on sre~ and hcilifi~ of the PUD, or for any conveyance in lieu o~ conoemmmon, are ~oreoy ~ssign~ and sh~l b~ p~d to Lender. Such proceed~ shaU be applied by Lender to ~be sums ~ecured by the Security I~u'um~t ~ provided in Section I 1. E, Lender's Prio~ Co~sent, Borrower sl~ll not, except after notice to Lender and with Lender's prior written consent either l~m-titlon or subdivide the Property or consem, to:, d). the aban~el~ o??t .o.r ~erm~s~on of the PUD, except for abandonrmm! or termin~on required by mw m me case o~ sunsunu~l deatruchon by fire or o~er casuaity or in the case of a raking by condemuatiou or eminent domain; auy ~ndm~t to any provision of the 'Consfiulent Documents' if the provision is for the ex~r,e, ss~benefit of Lender; (iii) ter~natinn of prof~ssior~l n'~nag~t ~ud ~sump6on o.f sel?man,~,g.em.e.n} .o..r u~. ~ Association; or (iv) any sction which would have the effect of r~derm~ me pum~c ~mty insurance coverage maintained by ~¢ Ownors Assocmdon unacccptabl; to L~'nder. F, Remedies. If Borrower does ~ot p~¥ PUD dues and assessrmm~s when due, then Lender may pay thc~n. Any ;unounu disbursed, by Lender under 0~Ls parsgraph F shall become?ldirional ~bt of Borro. wcr secured by the Sec~ity I~r~m~mt. Unless Borrower and Lender zgree to otu= terms o~ payment, me~e ·mounts ~,~l! bear inter~t from the dat~ of disbursement ~ the Note rate and sh~l be payable, with interest, upon notic~ from Lender to Boerower requesting payment. (~7R (00081 F'aiae 2 o~ $ 3150 1/01 BY SIGNING BELOW, Borrower accepts aud a/r~s to the terms and provisions conh~ned in fl~is PUD -Bormw=r (Seal) (s~) ($e~t) , oBormwer Fage 3 of 3 Form 3150 1101