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HomeMy WebLinkAbout892694Return To: CHASE MANHATTAN MORTGAGE COR~, 1500 N 19TH ST MONROE, LA 71201 DOCUMENTS ATTENTION: FINAL Prepared By: . RECEIVED LINCOLN COUNTY CLERK 03 ~I.[~ 2 1 Pit h: 3h [Space Above ~ l.i~ .; F~z Recording Data] MOR 714 .BQQK~PR PAGE 25313828 1253138283 DEFINITIONS Words used in multiple sections of this docuCm~; '~e defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules n t .~xding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, ~ t .ch is dated August 1 4, 2 0 0 3 , together with all Riders to this document. 01) "Borrower" is CALVIN L MCFARLAND, DONNA L DACHTLER, HUSBAND & W[. ;'~. Borrower is the mortgagor under this Security Instn', ~ent. (C) "Lender" is CHASE MANHATTAN MOR 1 GAGE CORP. Lender is a CORPORATION organized and existing under the laws of THE ST.~'TE OF New Jersey WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFO ~ nk~STRUMENT (~®-6(WY} (00051 Cd. ~/Y-) Page 1 of 15 Initials:J~'"~;~ ~l~ VMP MORTGAGE FORMS - [800)521-7291 Form 3051 1/01 715 Lender's address is 343 Thornall Street, Edison, ?~.I 08837 : Lender is the mortgagee under this Security Instrurr. h~t. (D) "Note" means the promissory note signed by Bt ~i:owe~ and dated Augus t ~ 14, 2 0 0 3 'Ilte Note states that Borrower owes Lender Thirty-Five Thousand, and 00/2 :)d Dollars (U.S. $ 3 5,0 0 0.0 0 ) plus interest. Bo~:,wer has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than -,~ e. pt~ ember I, 2 0 3 3 (E) "Property" means the property that is aescr, oe~i belo~v under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by tL ' ~ote, l:!~[s i~terest, any prcpaymem charges and late charges due under the Note, and all sums due uno .As Sec'~i_v[ty Ihstrument, plus interestt (G) "Riders" means all Riders to this Sc~..::'.ty Insli'~iigte;'~t that are executed by Borrower. The following Riders are to be executed by Borrower [ched.~ *oox' aq [---] Adjustable Rate Rider [--'] Condomini.:;~.. ~:tidt!r [~] Second Home Rider ~ Balloon Rider ~ Planned Unk ),~'v4opment Rider~ 1-4 Family Rider ~ VA Rider [~ Biweekly Pay: e',- ~ider Other(s) [specify] (iD "Applicable Law" means all controlling ';[?~icable federal.', state and local statutes, regulations, ordinances and administrative rules and orders (z .:gCrhave ~e effect of law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Asg:{~smeCts" means all dues, fees, assessments and other charges that are ~mposed on Borrower or the 1;,'roperty by a condonumum association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any trar~s, fer of funds, I other than a transaction originated by check, draft, or similar paper instrument, which .i:l initilated through an electronic terminal, telephonic instrument, computer, .,or magnetic tape so as to on~{;r, in~ruct, or: authorize a financial institution to debit or credit an account. Such term includes, but is }.i~t limited to, .point-of-sale transfers, automated teller machine transactions, transfers initiated by tele~),F3ne,,, wire transfers, and ~automated clearinghouse transfers. (K) "Escrow Items" means those items that are des~ ~i'bed tn Sectioia 3. (L) "Miscellaneous Proceeds" means any compet,~ ~4on, settlemem, award of dama es, or roceeds aid ~:~, ~ g P P by any third party (other than insurance proceeds: a~d under the coverages described m Section $) for: 0) damage to, or destruction of, the Property; (i.i.)~i,~demhation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnatDn,:-or (i9) misrepresentations of, or omissions as to, the value and/or condition of the Property, (M) "Mortgage Insurance" means insurance prote:~.~jng Eender against the nonp.ayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly schee.t~ed ~,mount due for (i) principal and interest under the Note, plus (iii any amounts under Section 3 of t~._~s L'-'ct'city Instrument. (O) "RESPA" means the Real Estate Settlement Pl,.~:..;au~es Act ('12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.FiR.:'~:part ~500), as they might be amended from time to time, or any additional or successor legislation or nQ~ala~ticn that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all ?..~,~-iu~-cements and restrictions that are imposed in regard to a "federally related mortgage loan" even if th!,~ ]/~,. does not quahfy as a federally related mortgage loan" under RESPA. Inltlals:~ (~)~-6{WY) Form 3051 1101 (0005) 716 (P) "Successor in Interest of Borrower" means 'aq..~ )arty that has taken title to the Property, whether or not that party has assumed Borrower's obligations ur e ~r the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY J: This Security Instrument secures to Lender: (i) the re F?.. :~<ent of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performanc4:';~9?,orrower's covenants and agreements under this Security Instrument and the Note. For this purpose; ' o:;~:,..wer does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with po":ert' ff sale, the following described 'property located in the COUNTY ~ %:~COLN : [Type of Recording Jurisdiction] '~' ~" [Name of Recording Jurisdiction] LOT 32 OF STAR VALLEY RANCH PI_':'.T~, LT.~,;COLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLA~I T~. ~.REO'.' Parcel ID Number: 12-3519-24-4-05-107 469 MAHOGANY WAY THAYNE ("Property Address"): which currently has the address of [Sa'eeO [City] , Wyoming 8 312 7 [Zip Code] TOGETHER WITH all the improvements flow or hereafter erected on the property, and all easements, appurtenances, and fixtures now or he.'tafter a part of the property. All replacements and additions shall also be covered by this Security I~ s rument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is :~ iwfUlly seiseO of the estate hereby conveyed and has the right to mortgage, grant and convey the Prope~L. and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of ~ ~.cord. THIS SECURITY INSTRUMENT combines i~ fifcnn covenants for national use and non-uniform covenants with limited variations by jurisdiction to c ':' 'titute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Leto',? ::::'venant and agree as follows: 1. Payment of Principal, Interest, EscrOw. t'~:::m, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and :~tez.~st on, the debt evidenced by the Note and any prepayment charges and late charges due under the '~¥ :.~..,." ._-%rrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Nct~: w.?. this Security Instrument shall be made in U.S. * r¢,.ceived by Lender as payment under the Note or this currency. However, if any check or other instrume~ ..., . (~I~-6{WY) 1ooo5}, Pa{ ,,. of 15 . Form 3051 1/01 717 Security Instrument is returned to Lender unpaid, L¢,.der may require that any or all subsequent payments due under the Note and this Security Instrument ,':~.~ made in one or more of the followino forms as ! :( ~ , selected by Lender: (a) cash; (b) money' order; '(~!-i eerti~ed check, bank cheok, treasurer's check or cashier's check, provided any such check is draw~',!~pon an institution whose deposits are insured by a federal agency, xnstrumentahty, or entity; or (d) E~ ti'omc ~unds Ttansfer. ~ Payments are deemed received by Lender wh%,irec~ix~ed at thc location designated in the Note or at such other location as may be designated by Lender ~.[acco{dance with the notice provisions in Section 15. Lender may return any payment or partial paymen'..':~ the l~ayment oF partial payments are insufficient to bring the Loan current. Lender may accept any Pay}ient.b~partial payment insufficient to bring the Loan current, without waiver of any rights hereunder ol";:ii~Jt dic~ t~o its fights to refuse'such payment or partial payments in the future, but Lender is not obligated't~}'.fippl~ such payments at the~time such payments are accepted. If each Periodic Payment is applied as qi:' :its s{:hedule~ due date, th~n Lender need not pay interest on unapplied funds. Lender may hold such ru:?i~ppi!e~l funds Until BorroWer makes payment to bring the Loan current. If Borrower does not do so withk, i' re. as~nable periOd of time, Lender shall either apply such funds or return them to Borrower. If not apr Ieee. :?.?:.iier, such ~B.nds will be applied to the outstanding principal balance under the Note immediate!v aiof v'..foreclosure. No offset or claim which Borrower might have now or in the future against Lc:.. x sha;~ reli6ve Borrower from making payments due under the Note and this Security Instrument or pe:' ;~Tning :i :~ ~:' venants and agreements ~secured by this Security Instrument. 2. Application of Payments or Proc:.,..:Js. r~q:;ept as otherwise described in this Section 2, all payments accepted and ap:plied by Lender.sk~;,: i.e ~3iied in the t~ollowing orde~i of priority: (a) interest due under the Note; (b) principal due under t ~:~ :{ii'~i~; (c)~ amount~ due under Section 3 Such payments shall be applied to each Periodic Payment in ti c'i.~ier in [which it became due. Any re;aining amounts shall be applied first to late charges, second to '~: Iher amounts d, ue under this Security Instrument, and then to reduce the principal balance of the Note -. ~' . If Lender receives a payment from Borro .~r a ~telinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the . ;i~mentlmay be applied to the delinquent payment and the late charge. If more than one Periodic Paymcat'ij:l~utst~ding, I~ender may apply any payment received from Borrower to the repayment of the Periodic Pal;~i/aents lif, and to the extent that, each payment can be paid in full. To the extent that any excess exists a~ii:rilthe p~tYment t..s applied to the full payment of one or more Periodic Payments, such excess may be applieil':to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then iii~;desc~ibed in the Note. i Any application of payments, insurance Proceed, or,~Vliscell~aeous Proceeds to principal due under the Note shall not extend or postpone the due date, r!?!?~n9 e the arg. oU. nt, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall ;g~c> t?, ILende,,r ion the day Periodic Payments are due under the Note, until the Note is paid in full,'a su~:~".~i;.e Funds ) [o provide for payment of amounts due for: (a) taxes and assessments and other.items 'whiri} ?'~an altain priCrity over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold ;i ~Yme~ts or ground rents on the Property, if any; (c) premiums for any and all insurance required~by i~irider lunder ~ection 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bon.~iii:ef t~Lender, in lieu of the payment of Mortgage Insurance premiums in accordance with the provi~i '~ns of Sectiofi 10. These items are called "Escrow Items." At origination or at any time during the te,'~'~ of the Loan, Lender may xequire that Community Association Dues, Fees, and Assessments, if any,'lle escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower sha5 !:Promptly .furqish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Le~&~r thel Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any (.~' al!, Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or z!". E,i~:iiov. ,Items at any time. Any such waiver may only be in writing. In the 'event of such waiver, Borrower sh:i:2 P~Yt directly, when and where payable, the amounts (~)--6(WY} 1ooo6i ,;aoe :~'? I., Form 3051 1/01 Ii due for any Escrow Items for which payment of F':i ~ has been wmved by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such',_aa., :ent within such time period as Lender may require. Borrower's obligation to make such payments ~.nd I provide..receipts shall for all purposes be deemed to be a covenant and agreement contained in this Secur:- !nstrurc~ent, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to t , Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escro¥' :rem, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be o > igated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any ali Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revoca -~n, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Sect! ~, 3. Lender may, at any time, collect and hold Fun: :.n an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (~,) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the ~.:~unt of'Funds due on the basis of current data and reasonable estimates of expenditures of future Escr<,':~ Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lend ~': is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply th ~ Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge B4 ,; rower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escn ,'. ~ Items, unless Lender pays Borrower interest on the Funds,~and Applicable Law permits Lender to make :~. ch a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on th~ ~"'ads, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower an 5 ~nder can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to B" r':.v,er, without charge, an annual accounting of the Funds as required by RESPA. ' ' If there is a surplus of Funds held in escrow, as !efined under RESPA, Lender shall account to Borrower for the excess funds in accordance with R ~ g?A. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrf .V ~er :'.'-..required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the short;?: in ~c~.:)rdance with RESPAi but in no more than 12 monthly payments. If there is a deficiency of Ft'h-~d,, i eld in S::crow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Bor::'c * er shall '.pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but ih. ~ .o m°,[e;'.3.~ 12 monthly payments. Upon payment in full of all sums secured b3" t is 'Sec'::..-,2y .Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay ~all<Laxes, assessments, charges, fines, and impositions attributable to the Property which can attain priorit i over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Co.mmuh.~;..Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, BorrOw. ~ .4dali Pay them in the manner provided in Section 3. Borrower shall promptly discharge any 1.ie~,.: w~ ich. has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of th ~, Obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is perform ~ g 'such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, h ~ al proceedings which'in Lender's opinion operate to prevent the enforcement of the lien while those pro :'..edings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the' ti m an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender deter nines that any part of the Property is subject to a lien which can attain priority over this .Security Instrume3~; Lender may give Borrower a notice identifying the (~-6(WY} {00051 Form 3051 1/01 lien. Within 10 days of the date on which th':~:, notice..~ ~yen, Borrower shall satis~ the lien or take one or more of the actions set forth above in this Se ,:'q :~n 4,. Lender may require Borrower to pay a ~ne-J~ne charge fdr a real estate tax verification and/or reporting service used by Lender in connecti0$; 'ff~,!~ ~his LOan. ~ 5. Property Insurance. Borrower shall It?p .~ie iml~rovements now existing or hereafter erected on the Property insured against loss by fire, haza? ~:, !i iJaded within Ithe term "extended coverage," and any other hazards including, but not limited to, eax', This insurance shall be maintained in the amo~':.:. Lender requires. What Lender requires pursuanV~ the Loan. The insurance carrier providing the right to disapprove Borrower's choice, which require Borrower to pay, in connection with determination, certification and tracking services; and certification services and subsequent reasonably might affect such determination or payment of any fees imposed by the Federal review of any flood zone determination resulting If Borrower fails to maintain any of the coverage, at Lender's option and Borrower's particular type or amount of coverage. Therefore not protect Borrower, Borrower's equity in the hazard or liability and might provide greater er acknowledges that the cost of the insurance insurance that Borrower could have obtained. An.', become additional debt of Borrower secured by ti~i~ at the Note rate from the date of disbursement ann Lender to Borrower requesting payment· floods, for which Lender requires insurance. ling deductible levels)~and for the periods that sentences can change during the term of be chosen by BorrOwer subject to Lender's l not be exercised unreasonably. Lender may an, either: (a) a one-time charge for flood zone 'one-time'charge for flood zone determination remappings or similar changes occur which Borrower shall also be responsible for the Agency, in connection with the Borrower. above, Lender may obtain insurance is under no obligation to purchase any shall cover Lender, but might or might the contents of the Property, against any risk, than was previously in effect. Borrower ~o obtained~ might significantly exceed the cost of disbursed by Lender ~ander this Section 5 shall ecuffiy Instrument. These a~nounts shall bear interest payable, with such interest, upon notice from · All insurance policies required by Lender ~'O(~ [enef~ls of such policies shall be subject to Lender's right to disapprove such policies, shall inciuc:: t?.:i ~a:(.da~d mortgage clause, ~d shall name Lender as mortgagee and/or as an additional loss payee. Leqd~i~ ah'alt have tl~e right to hold, the policies and renewal certificates. If Lender requires, Borrower shall pr~i~,flY g{'~e to Lender all receig~ts of Paid premiums and renewal notices, if Borrower obtains any form. of ~i~iuran~e coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, ~u~-~ gOliey shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an a(:.~itiq?~ ~ loss payee. ~ In the event of loss, Borrower shall - ~ pro~ ~:'e nol~ice to the insurance carrier and Lender. Lender may make proof of los,,; if not made pro~:~::5 . y by. B~. in writing, any insurance proceeds, whether or not" be applied t° restoration or repair of the Pri:.~:erty', Lender's security is not lessened. During hold such insurance proceeds until Lender i:,~i~ work has been completed to Lender s promptly. Lender may disburse proceeds for .t~ ~:... of progress payments as the work is completed ~-rowqr. Unless Lender and Borrower otherwise agree i~ ~!~':~c~erlying tmUrance was ~equired by Lender, shall !;~j'.r~storation or repair is economically feasible and i~d qestorat[cm period, Lender shall have the right to i~ opl~ortunity to inspect such Property to ensure the ~:prox{ided tl~at such inspection shall be undertaken aks ahd restoration in a single payment or in a series .ss an ~greement is made in writing or Applicable Law requires interest to be paid on such insurance p:, ,.l~:t~ds, L~nder shall not be required to pay Borrower any interest or earnings on such proceeds. Fees: .... ',:!~,ublic adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance .4:',¢~a~_s and shall be the sole obligation of Borrower. If the restoration or repair is not economically fe~sibl?;~t'or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by't!tis~Sect~rity Instrument, whether or not then due, with Initlals:~=.,~)~ 61WY} Iooos} ' ' f ~[ Form 3051 1/01 the excess, if any, paid to Borrower. Such insurance: -~roceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender ;~ :,' file, negotiate and settle any available insurance claim and related matters. If Borrower does not re., g ?.i!7 within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then ~,.~ ::" er may negotiate and settle the claim. The 30-day period will begin when the notice is given. In ei ex' '.vent, 'or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assign; .t6:'Lew~er (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts uu~?.?;~nder the Note or this Security Instrument, and (b) any other of Borrower's rights (other than thel ri£'b.'.'. "Jo any refund of unearned premiums paid by Borrower) under all insurance policies covering t~,¢ Proi_~.%v'.y, insofar as such rights are applicable to the coverage of the Property. Lender may use the i?h~..~ ge pr~:~,~eds either to repair or restore the Property or to pay amounts unpaid under the Note or this St:cur ~ .t Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, est:t ~.sh, ~:. c~e the Property as Borrower's principal residence within 60 days after the execution of th~. ) Sceu~ri ' ~&strument and shall continue to occupy the Property as Borrower's principal residence for at !:'a ;t o~ year after the date of occupancy, unless Lender otherwise agrees in writing, which consent sh~.l. ~o~ Oe unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower'a c, t~ol. 7. Preservation, Maintenance and Pr~tecti ~ of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow. :,~e .Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing J:i "~ P:operty, Borrower shall maintain the Property in order to prevent the Property from deteriorativg o~ · le.':reasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or 're4 ~ration is not economically feasible, Borrower shall promptly repair the Property if damaged to avc'~ further deterioration or damage. If insurance or condemnation proceeds are paid in conl!,ection wi~ )amage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the t r,?p~rty only if Lender has 'released proceeds for such purposes. Lender may disburse proceeds for the rep~ ~ 's ~d restoration in a single payment or in a series of progress payments as the work is completed. If the i ~s. ur~.nce or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not r:: ieved of Borrower's obligation for the completion of such repair or restoration. ' Lender or its agent may make reasonable e~.'~, les upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior ~ ~' ',he improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an L~ ~ flor inspection specifying such reasonable cause· 8. Borrower's LOan Application. Borrowe~ ~hall be in default if, during the Loan application process, Borrower or any persons or entities acti ~ at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleat L ~g, or inaccurate information or statements to Lender (or failed to provide Lender with material ini~-~xnation) in connection with the Loan. Material representations include;' but are not limited to, re[ r~-sentafions concerning Borrower's occupancy of the Property as Borrower's principal residence, i~ 9. Protection of Lender's Interest in the Pro~.rty.. . and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agn ¢ a.~.entS contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect ~:der's interest in the Property and/or rights under this Security Instrument (such as a proceeding in b~ ~-:.9tcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority..Tie.;: this .Security Instrument or to enforce laws or regulations), or (c) B°rrower has abandoned the ~'. 0e.-'.:Y, th6n Lender may do and pay for whatever is reasonable or appropriate to protect Lender's int, i~::t :i..q' the Property and rights under this Security Instrument, including protecting and/or assessing t!,~. ~,zlu¢ of the Property, and securing and/or repairing the Property. Lender's actions can ~nclude, but ar.'~. ~Ot lim:':ted to: (a) paying any sums secured by a lien which has priority over this Security Instruw..~a':'i. (b) a,:~earing in court; and (c) paying reasonable 6{WY) looo5) -P=, .. ~ of 15 : Form 3051 1/01 attorneys' fees to protect its interest in the Propert3~ :~.~lC[/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. ,[.~3t~ting 'the Property includes, but is not limited to, entering the Property to make repairs, change 'locks i('replace or board up doors and windowsi drain water from pipes, eliminate building or other code vto~ati'~s or dangerous'conditions, and have utilities turned on or off. Although Lender may take action under t~ii~ .Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed :i:'i~ Lender incurs'no liability for not taking any or all actions authorized under this Section 9. ?,':!' Any amounts disbursed by Lender under thi~':~i,;e, ction 9 shall become additional debt of Borrower secured by this Security Instrument. These amou~:~!~ha!~, bear interest at the Note rate from the date of disbursement and shall be payable, with such int.~:~:~it, ~pon notice from Lender to Borrower requesting payment. · ~ }~ If this Security Instrument is on a leasehold, ~I row?r shall cgmply with all the provisions of the lease. If Borrower acquires fee title to the Property,: he leasehold ~and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required; ?ir, e~gage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to ma? Jfih"~,:~e Mortgage Insurance in effect. If, for any reason, the Mortgage insurance coverage required by ~ .ae~ ,.e~es to be available from the mortgage insurer that previously provided such insurance and Bor-~ ~,~er ,~:~';~s required to make separately designated payments toward the premiums for Mortgage Insm . e, B~ ~:.cy~er the premiums required to obtain coverage substantially eqmvalent to the Mc:.:gage li'~:i',ur nee in effect, at a cost substantially equivalent to the cost to Borrower of the'..": ,~nsurance in effect, from an alternate mortgage insurer selected by Lender. If s~..'5 available, Borrower shall continue to pay to were~due when the insurance coverage ceasec payments as a non-refundable loss reserve it. non-refundable, notwithstanding the fact that required to pay Borrower 'any interest or earninl reserve payments if Mortgage Insurance covera/~ provided by an insurer selected by Lender ag,'. :~' separately designated payments toward the Insurance as a condition of making the Loan ~dl payments towaid the premiums for Mortgage instil maintain Mortgage Insurance in effect, or to pr~:. requirement for Mortgage Insurance ends in Lender providing for such termination or until term'il Section 10 affects Borrower's obligation to pay inte~! Mortgage Insurance reimburses Lender (or may incur if Borrower does not repay the Loan.~ Insurance. Mortgage insurers evaluate their total risk on enter into .agreements with other parties that share are on terms and conditions that are satisfactory these agreements. These agreements may reqmre of funds that the mortgage insurer may have Insurance premiums). As a result of these agreements, Lender, anir. any other entity, or any affiliate of any of the Mortgage Insurance coverage is not amount of Che separately designated payments that Lender will accept, use and retain these Mortgage InSUrance. Such loss reserve shall be is ultimately paid in full, and Lender shall not be loss reserve. Lender can no longer require loss amount and for the period that Lender requires) ecomes available, is obtained, and Lender requires 'or Mortgage lmurance. If Lender required Mortgage ff?ower was required to make separately designated xme, BorroWer ,shall pay the premiums required to ,idea non-refundable loss reserve, until Lender's :e with any written agreement between Borrower and al:mn is required by Applicable Law. Nothing in this t~at the rate provided in the Note. entity that pumhases the Note) for certain losses it ~. agreed. Borrower is not a party to the Mortgage insurance:in rome from time to time, and may their risk, or reduce losses. These agreements mortgage insurer and the other party (or parties) to insurer to make payments using any source may include funds obtained from Mortgage of the Note, another insurer, any reinsurer, , may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portio;(."of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage :.qsurer's riak, or reducing losses. If such agreement provides that an affiliate of Lender takes a share 'iff ff.:',.', insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is 0~,~5~.~ teimed "captiv~ reinsurance." Further: (a) Any such agreements will not affect ~'.~?-, 2axiounts that' Borrower has agreed to pay for Mortgage Insurance, or any other terms of the ~i, m. Such agreements will not increase the amount Borrower will owe for Mortgage Insuranee~ a~d 'till } y will:not e~titie Borrower to any refund. (~-6(WY) iooo5) .' ag~,. ,1~.,,'4~ Form 3051 1/01 , ! 722 (b) Any such agreements will not af~ct th,. rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Pr':,' ~,tion Act of 1998 or any other law. These rights may include the right to receive certain d~cl':~L~ to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Iasu.'?~ace'terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums th~ i were' unearned at the time of such cancellation or termination. 11. Assignment. of Miscellaneous Proceeds:. Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property i.s damaged, such Miscellaneot.r P;0qeecls shall be applied to restoration or repair of the Property, if the restoration or repair is econorfically.feasible and Lender's security is not lessened. During such repair and restoration period, Lender sh.' l~ have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect suc ~ Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection ~aall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement o,:'~ in a series of progress payments as the work is completed. Unless an agreement is made in writiv, g ~? Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be reqt:'.2 ~ d to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair s not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be a[ piied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, p~ i .t to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction,'.'~ '. ioss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by ti i; Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. ' . In the event of a partial taking, ' destruction, m ',~ss in value of the Property in which the fair market value of the Property immediately before the partii] ]4aking, destruction, or loss in value is equal to or greater than the amount of the sums secured by tt ~ , ?ecfirity Instrument immediately before the' partial taking, destruction, or loss in value, unless Borro' ~ x:.',.and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be red I :e3! by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total .. in::~{nt 'Of the sums secured immediately before the partial taking, destruction, or loss in value div. i':d"Sy (b) the fair market value of the Property immediately before the partial taking, destruction, o"~ o~ !:n ~;a!ue. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, o:~ :i,6ss i.u value of the Property in which the fair market value of the Property immediately before the p'art' Z talch2_&' destruction, or loss in value is less than the amount of the sums secured immediately before' :":~.:: partial, taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, t:_l;:~Misce, llaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or net':2 .~ sums ~'e then due. ' If the Property is abandoned by Borrower~: >r if, · ~.~ .~ notice by Lender to Borrower that the Opposing Party (as defined in the next sentence,)'c.: ~brs t0.:r~h~ike an award to settle a claim for damages, Borrower fails to respond to Lender within 30 day:' t?.e'~.rhe date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds ¢:.[ ,.er to restoration or repair of the Property or to the sums secured by this Security Instrument, whet,her .!"..' pot then due. "Opposing Party" means the third pai'ty that owes Borrower Miscellaneous Proceeds: or t~. ~a_~jt against whom Borrower has a right of action in regard to Miscellaneous Proceeds. , ... ' Borrower shall be in defau, lt if any action,,0r ¥,} ~,5,.eqd,.ing, whether civil or. criminal, is begun that, in Lender's judgment, could result in forfeiture' c.¢ 'fl~. ~roperty or other material impairment of Lender's interest in the Property or rights under this Sedurit',. Instrument. Borrower can cure such a default and,-if acceleration has occurred, reinstate as provided in',l~ction 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment,.-irecludes forfeiture of the Property or other material impairment of Lender's interest in the Property or ~ights under this Security Instrument. The proceeds of any award or claim for damages that are attributable :e~the 'impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. ,: . All Miscellaneous Proceeds that are not appY~,:d.tO restoration or repair of the Property shall be applied in the order provided for in Section 2. . i~ I ~ 6{WY) {ooo5) .Pa~.: ~ o~ ~s Form 3051 1/0! 723 12. Borrower Not Released; Forbearan~el.! ~: ;:Lender Not ~ Waiver. Extension of the time for payment or modification of amortization of thee: .~:!;~;~, i'~Ured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of ;~-~. rb~w ..],,..:_1;22 ~ i~ shall~l~ not operate to release the liability of Borrower or any Successors in Interest of Borrower. ~itl! not be required to commence proceedings against any Successor in'-Interest of Borrower o~"~ re~ I''~ '"~ ' &: to extend tune for payment or otherwise modify amortization of the sums secured by this SeC::i.~!t~ In:?i~ent by reason of any demand made by the original Borrower or any Successors in Interest of Bq.¢;'hw~ ~' ~ ' ' ' :,~:~my forbearal~ce by Lender ~n exercising any right or remedy including, without limitation, LendeJr;2 ~ ~:~tance of paYments from third persons, entities or Successors in Interest of Borrower or in preclude the exercise of any right or remedy, 13. Joint and Several Liability; Co-si and agrees that Borrower's obligations and liabi co-signs this Security Instrument but does no Security Instrument only to mortgage, grant terms of this Security Instrument; (b) is not Instrument; and (c) agrees that Lender and the amount then due, shall not be a waiver of or and Assigns Bound. Borrower covenants be joint and several. However, any Borrower who the Note (a "co-signer"): (a) is co-signing this the co-signer's interest in the Property under the 'obligated to pay the sums secured by this Security can agree to extend, modify, forbear or make any accommodations with regard to Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, l~gii~ Successor in Interest of Borrower who assumes [uiin~ Borrower's obligations under this Security Inst ,~t writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under thiq~e~, ii:~ity Instrument. Borrower shall not be released from Borrower's obligations and liability under this Se~;i:.~tY Instrument unless Lender agrees to such release in writing. The covenants and agreements of this 15ii~:urity Instrument shall bind (except as provided in Section 20) and benefit the successors and assign~ o{7';t~ender. 14, Loan Charges. Lender may charge~gr~i~i~;ei:~ fees for services performed in connection with Borrower's default, for the purpose of protectff~g [~'~nder s interest in the Property and rights under this Security Instrument, ~nclud~ng, but not limited, to~ f.:'ilornevs fees, oronertv inspection and valuation fees. In regard to any other fees, the absence of expresS, ~.'¢::¢[[10rity in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohib~it}:ii~ on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security lq!ilrUment or by Applicable Law. If the Loan is subject to a law which sets n'~alii'i~uni.l°an charges, and that law is finally interpreted so that the interest or other loan charges collected o~ x~[be collected in'connection with the Loan exceed the permitted limits, then: (a) any such loan charge ~iii~.!l, be reduced by the amount necessary to reduce the Charge to the permitted limit; and (b) any sams al~e¢:~[ly 'collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender ma~!~,~oose to make this refund by reducing the principal owed under the Note or by making a direct p~yi~nt :to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepav,W'.~i~}~;i,t~wignout any pLepayment charge (whether or not a prepayment charge is provided for Under the lqo!~i.~:~..:~orrower s acceptance of any such refund made by direct payment to Borrower will constitute a waivbr?'~I' any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrowe: 0.'~ Lender in COllection with this Security Instrument must be in writing. Any notice to Borrower in..mnn~fion with this Security Instrument shall be deemed to have been given to Borrower when mailed 'V fii'si~.;L;~ss mail or when actually delivered to Borrower's notice address if sent by other means. I~': .e to an~::iTme Borrower shall constitute notice to all Borrowers unless Applicable Law expressly req;-:;.;: otherW, i~;~i' The notice address shall be the Property Address unl.ess Borrower has desig_n, ated a substitute notic~.7~}dlress by notice to Lender. Borrower shall promptly not~fy Lender of Borrower s change of ads,L-ss. I,f ?x,d-.r specifies a procedure for reporting Borrower's change of address, then Borrower shall onl::' '.?,.P. Ort ?cLhnge of address through that specified procedure. There may be only one designated notice :~;:,~,?4s ~/~le~ this Security Instrument at any one !,ime. Any notice to Lender shall be given by deliverin,:' 1,or,'.'~'';y mailing it by first class mail to Lender s address stated herein unless Lender has designated~at4:th~} address by notice to Borrower. Any notice in connection with this Security Instrument shall i~o~ "i~'~i deemed to have been given to Lender until actually received by Lender. If any notice required by':'~?:i~'~curity Instrument is also required under Applicable Law, the Applicable Law requirement will ~i!,(~'~;-:'the corresponding requirement under this Security Instrument. i,,:" .I~-6{WY) {ooo~} , ~ ', e~ .1~.~9[ ~s Form 3051 'llO'l : ' 724 16. Governing Law; Severability; Rules. ~,i "~.~.nstruction. This SecUrity Instrument shall be governed by federal law and the law of the jurisdi t6::., m which the Property is located. All rights and obligations contained in this Security Instrument :i:c 'i'mbject to any requirements and limitations of Applicable Law. Applicable Law might explicitly er i. ml~'~citly allow the parties to agree by contract or it might be silent, but such silence shall not be const?u~(. ~s a prohibition against agreement by contract. In the event that any provision or clause of this Sec~;:ity ~s~.rument or the Note conflicts with Applicable Law, such conflict shall not affect other provisio, n~~ of [hi.;:..i~ecurity Instrument or the Note which can be given effect without the conflicting provision.' As used in this Security Instrument: (a!: wc'.:[s' o.f ~ masculine gender shall mean and include corresponding neuter words or words of the femi.u, me gende,-; ;b) words in the singular shall mean and include the plural and vice versa; and (c) the wor.:!~ "ru~?" :: ~:..ta'sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be g~':en one .6opy of the Note and of this Security Instrument. 18. Transfer of the Property or a Bene,c~;~. ~, :aterest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or benef:. ~al interest in the Property, including, but not limited to, those beneficial interests transferred in a bond !:' deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfe )f rifle by Borrower at a future date to a purchaser. If all or any part of the Property or any ~,.t~.'re.-' L7 ~'~he Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in l ': n'ower is sold or transferred) without Lender's prior written consent, Lender may require immediate t*~'ment in full of all sums secured by this Security Instrument. However, this option shall not be e~ ::cised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall ~ve Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the dat'e the notice is given in accordance with Section 15 within which Borrower must pay all sums secured ':.~ .this Security Instrument. If Borrower fails to pay t..hese sun? prior t° the expiration of this period, ';L-~nder may invoke any remedies permitted by this ~ecurity instrument without further notice or deman ~ on iBorrower. !9. Borrower's Right to Reinstate After ~. ~eceieration. If Borrower meets certain conditions, BorroWer shall have the right to have enforcemen, O.f this Security Instrument discontinued at any time prior to the earliest of: (a)five days before sale of t 1,; Property' .pursuant to any power of sale contained in this Security Instrument; (b) such other period as t~.pplicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of e. i:Idgment'enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all .-:.ums which then would be due under this Security Instrument and the Note as if no acceleration had otc.~rred;. (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforc.~ g this Security Instrument, including, but not limited to, reasonable attorneys' fees, property insPectio~-md valuation fees, and other fees Incurred for the purpose of protecting Lender's interest in the Pru?,:~ ty and rights under this Security Instrument; and (d) takes such action as Lender may reasonably reqmre to .assure that Lender's interest in the Property and rights under this Security Instrument, and Borrowe: ' ( obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may :~;qui. re that Borrower pay such reinstatement sums and expenses in one or more of the following forms, :e '~::lected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or ca ;i ',.~..'_'s check, provided any such check is drawn upon an institution whose deposits are insured by a fede:'! :. ;~.-ency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, t:, .~ ..7~eurity Instrument and obligations secured hereby shall remain fully effective as if no acceleration h.' ~ oec'~.u'red. However, this right to reinstate shall not apply in the case of acceleration under Section 18. ' (.: · 20. Sale of Note; Change of Loan Servicer; l~70dce of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) ¢~ xr,be sold one or more times without prior notice to Borrower. A sale might result in a change in.~e"entity ~known as the "Loan Servicer") that collects Periodic Payments due under the Note and th'is, l~t cUrity Instrument and performs other mortgage loan servicing obligations under the Note, this Securi..) '~ nat~..~m, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelate-:l :t6 'a~:..%(~ 0fthe Note. If there is a change of the°Loan Servicer, Borrower will be given written notice a~f '::::'e. ~:~.ange which will state the name and address of the new Loan Servicer, the address to which paymew:~ Sliould be made and any other information RESPA Form 3051 1/01 requires in connection with a notice of transfer of ~e,~rvicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchas,~qof the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or '}i.¥transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise pr¢3!!ded by the Note purchaser. Neither Borrower nor Lender may commence'~',.ioin,' or be joined to any judicial action (as either an individual litigant or the member of a class) that ;. }[rises from the other party's actions pursuant to this Security Instrument or that alleges that the oth'er pa~i~ has breached any provision of, Or any duty owed by reason of, this Security Instrument, until such 'l~or~er or Lender has notified the other party (with such notice given in compliance with the requiremems ~}}~.Section 15) of such alleged breach and afforded the other party hereto a reasonable period after t e~.g~vmg of such not,ce to take corrective action. If Applicable Law provides a time period which mu: ..~.elapse before certain action can be taken, that time period will be deemed to be reasonable for purp,~$s of this paragraph. The notice of acceleration ~d opportunity to cure given to Borrower pursuan~ ~),- S~;tion 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deeni,;~ ~/? s~ti.sfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in thit~i,Section~:. ~ 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substan~es h ~211utants, or wastes by Environmental Law and the following substances: gasoline, kerosene, ot?)( fll e,',~ble or toxic 'petroleum products, toxic pesticides and herbicides, volatile solvents, materials cr~. Yhini ,~estos or fortnaldehyde, and radiOactive materials; (b) "Environmental Law" means federal law ~, [d 1, iii of the jurisdiction where the Property is located that relate to health, safety or environmental [~, i ~¢tior 'I~,) "Environmental Cleanup" includes any response action, remedial action, or removal action, .~:. defin~,. ,.~:~ Environmental Law; and (d) an "Environmental ...... Condition means a condition that can c...,z~:e, ciii~:ribute to, or otherwise trigger an Environmental Cleanup. . Borrower shall not cause or permit the 1;. ~?'~s~:~', use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardo,.'~' St~ tances, on or in the Pronertv Borrower shall not dr} nor allow anyone else to do, anything affectin.~' :i:ii}::;,~t rOp'erty (a) that is in violation of any Environmental Law, (b) which.creates an Environmental Cone. r~. ):~::!;~!~ >r (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that ~.~ely affects the value of the Property. The preceding two sentences shall not apply to the presence, l~: ¢: ,or storage on the Property of small quantities of Hazardous Substances that are generally recogniz, i:to be appropriate to normal residential uses and to maintenance of the Property (including, but not;li~ ].to, hazardous substances in consumer products). Borrower shall promptly give Lender written ?i~tice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory.~eney or private party involving the Property and any Hazardous Substance or Environmental Law ¢'~:!/which Borrower has actual knoWledge, (b) any Environmental Condition, including but not limit~eq:l~;., any spilling, leaking, discharge, release or threat of release of any Hazardous Substance,' and (c) anyli~ji?.dition caused by the presence, use or release of a Hazardous Substance which adversely affects [he ~.}:i~e of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, Or ~}:i-'pi-i~ate party, that any removal or other remediation of any Hazardous Substance affecting the Property: ~:;qiaecessary, Borrower shall promptly take all necessary remedial actions in accordance with Envirom:~e~~ Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. Form 3051 1101 24. Waivers. Borrower releases exemption laws of Wyoming. NON-UNIFORM COVENANTS. Borrower ~. 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 agreeme~t i~ this Security Instrument (but not prior to acceleration under Section 18 unless Applicable L.~.w. provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the de:}stfl. G (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the defa~al~, must be cured; and (d) that failure to cure the default on or before the date specified in the no~i,~t, n~ay result in acceleration of the sums secured by this Security Instrument and sale of the Proper:*. The notice shall further inform Borrower of the right to reinstate after acceleration and the right :c bring a court action to assert the non-existence of a default or any other defense of Borrower to ac~ deration and sale. If the default is not cured on or before the date specified in the notice, Lender at :t; option may require immediate payment in full of all sums secured by this Security Instrument wit ~ rut further demand and may invoke the power of sale and any other remedies permitted by Appl !s able Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provi l, .~1 in this Section 22, including, but not limited to, reasonable attorneys' fees and costs'of title evider c If Lender invokes the power of sale, Lender ' ?:.';.I. give notice of intent to foreclose to Borrower and to the person in possession of the PropertY, ;-i~, 'tifferent, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower ': t'}:-: manner provided in Section. 15; Lender shah publish the notice of sale, and the Property sha¢ be: sold in the mao.er prescribed by Applicable Law. Lender or its designee may purchase the Piio,..>erty at any sale. The proceeds of the sale shall be applied in the following order: (a) to all eXPenses of the sale, including, but not limited t°, reasonable attorneys' fees; (b) to all sums secure, ii .by thi~ Security Instrument; and (c) any excess to the person or persons legally entitled to it. :' 23. Release. Upon payment of all sums sectlrqr by this 'S'¢:Urity Instrument, Lender shall release this Security Instrument. Borrower shall pay any reco :,lation c'*:.~. Lender may charge Bon'ower a fee for releasing this Security Instrument, but only if th¢ l'a:,is pa~d t° a third party for services rendered and the charging of the fee is permitted under Applicable and wai~{-, all rights under and by virtue of the homestead (~)~-6(WY) ~ooo~ Initials:i~)_ Form 3051 1/Ol STATE OF Vvq(OMING, LINCOLN' The foregoing instrument was acknowkdg.gd 6~:f~ ~re me this August by DONNA L DACHTLER, HUSBAND 2003 County ss: My Commission Expires: (_.~)/3~T3fo Notary Public (~-6(WY) ~ooo51 P'~g :5of 15 Form 3051 1/01 728 25313828 1253138283 day of PLANNED UNIT DF; 7ELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RII)ER .U '.nade this 14 th August 2003 , and is incorporated into and shall be deemed to amend and supplement the Mortgage: Deed 3f Trust, or Security Deed (the "Security Instrument") of the same date, given by the undersigned '('!5~ "Borrower") to secure Borrower's Note to CHASE MANHATTAN MORTGAGE CORF" a corporation organized and c:xist.':ng under the laws of the State of New Jersey ~... (the "Lender") of the same date and covering the Prope" y described in the Security Instrument and located at: 469 MAHOGANY WAY, THAYNE, WY 3127 [P~pe~ .~ A44ress] The Property includes, but is not limited to, a parce ~ of land improved with a dwelling, together with other such parcels and certain common areas and facilities.' :~ described in REC 09/25/86 BK 243PR PG 252 (the "Declaration"). The Property is a pa~.of a planned unit development known as STAR VALLEY RANCH [Name of Pla~n:,i U.il Dev~lop~nt] (the "PUD"). The Property also includes Borrower ' .".r;telest in the homeowners association or equivalent entity owning or managing the common areas and,fi:.C~iiities of the PUD (the "Owners AssOciation") and the uses, benefits and proceeds of Borrower's interest.. PUD COVENANTS. In addition to the coy& fats and agreements made in the Security Instrument,. Borrower and Lender further covenant and agree as :'611ows: A. PUD Obligations. 'Borrower shall .perform all of Borrower's obligations under the PUD's Constituent Documents. The "Constituent Doc~-..,~ents" are the (i) Declaration; (ii) articles of incorporation, trust instrument or any equivalent do ;t;ment which creates the Owners Associatign; and (iii) any by-laws or other rules or regulations of the O~ hers Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to ti .C .Cbnstituent Documents. MULTISTATE pUD RIDER - Single Family - Fannie Mae/Fi ~c.'.~-~ Mac UNIFORM INSTRUMENT Form 3150 1101 Pag,!~i' ~'3 Initials:~ iI~7R (0008) VMP MORTGAGE F(,",,:=..- (8001521-7291 729 B. Property Insurance. So long as the Ow;?:~ Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy in,, ~. lng the Property which is satisfactory to Lender and which provides insurance coverage in the amount~ '{including deductible levels), for the periods, and against loss by fire, hazards included within, the' erm "extended coverage," and any other hazards, including, but not limited to, earthquakes and fl( '?-:{s, /or whick Lender requires insurance, them'O) Lender waives the provision in Section 3 for thc .:,~eriodic Payment to Lender of the yearly premium installments for property insurance on the Propert~ and (ii) Bor:ower's obligation under Section 5 to maintain property insurance coverage on the Prope~:~',i; is deamed satisfied to the extent that the required coverage is provided by the Owners Association polii ~ What Lender requires as a condition of this wai:'~i r can change during the term of the loan. Borrower shall give Lender prompt noti.¢e ol :~r.y lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of prop~:_ insura~.~ e proceeds in lieu of restoration or repair following a loss to the Property, or to common areas ......~ famht~es of the PUD, any proceeds payable to Borrower are  ereby assigned and shall be paid to Lende:. Lende,~ i.~i[~ai',i apply ~e proceeds to the sums secured by the ecurity Instrument, whether or not then due, ,'..,ith th~i:':e~'. :~/~ss, if any, paid to Borrower. C. Public Liability Insurance. Borro~ ~! ~,:hall:!i!~ke Such actions as may be reasonable to insure that the, Own~ers Association maintains a public !~:~c.!lit¥,.~insurance policy acceptable in form, amount, and extent o~ coverage to Lender. D. Condemnation. The proceeds of a~r.: aw~gl or claim for damages, direct or consequential, payable to Borrower in connection with any co~'. ~:m ~.ittiOn or other taking of all or any part of the Property or the common areas and facilities of the PUD; ;;~ f~i~i any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proce~!'//~ ?:?all be applied by Lender to the sums secured by the Security Instrument as provided in Section 11. .- E. Lender's Prior Consent. Borrower shall n~t, except after notice to Lender and with Lender's prior written consent, either partition or subdivid~-/~e Property or consent to: (i) the abantlonment or termination of the PUD~ except for abandonment m ~'~ ermination required by law in the case of substantial destruction by fire or other casualty or in the case ¢~f a taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent ~)ocuments" il: the provision is for the express benefit of Lender; (iii) termination of professional managem~at and assnml:tion of self-management of the Owners Association; or (iv) any action which would have'l~!e effect of rendering the public liability insurance coverage maintained by the Owners Association una,-x.~table to Let_der. F. Remedies. If Borrower does not pay PUD ~_-es and asses,,ments when due, then Lender may pay them. Any amounts disbursed by Lender under this i~.~:agraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrow~'e ~d Lender agree to other terms of navment these amounts shall bear interest from the date of dlsb~i~!ement at the Note rate and shall be~p~yable', with interest, upon notice from Lender to Borrower req~i(:~ing, payment Initials:~ (~7R {0008) Page. ! of 3 ' Form 3150 1/01 ?30 BY SIGNING BELOW, Borrower accepts and agr! c,; to h:e terms and provisions contained in this PUD Rider. -Borrower LONNA L DACHTLER -Borrower ~Seal) -Borrower (Se~) -Borrower (Se~) -Borrower (Se~) -Borrower (Seal) -Borrower (0008) Page Form 3150 1/01