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HomeMy WebLinkAbout892787 Retum To: ;TRYWIDE HOME LOANS, INC. [~:<~.S:V~.79 DOCUMENT PROCESSING Nuys, CA ~1410-0423 t: SHEILA POUNDS 892_787 RECEIVED LINCOLN COUNTY CLERK 03 ,tI6 25 l,: h3 JEANNE WAGNER BOOK 53~ PR PAGE 6 [Space Above Tiffs Line For Recording Data] FA-10362 M [Escrow/Closing. #] MORTGAGE 0003113635608003 [Doc ID #] Used in multiple sections of this document are defined below and other words are defined in Sections 3, 18, 20 and 21. Certain rules regarding thc usage of words used in this document are also provided in 16: ~.Instrument" means this document, which is dated AUGUST 19, 2003 all' Riders to this docmnent. ~B:d~rower" is J SCHOONOVER, AND DELORES C SCHOONOVER, HUSBAND AND WIFE , together the mortgagor under this Security Instrument. OUNTRYWIDE: HOME LOANS, INC. isting under the laws of NEW YORK is' Granada, Calabasas, CA 91302-1613 the mortgagee under this Security Instrument. Note" means the promissory note signed by Borrower and dated AUGUST 19, that Borrower owes Lender HUNDRED THIRTY SIX THOUSAND FORTY SEVEN and 00/100 2003 . Thc $ 136,047.00 ) plus interest. Borrower has promised to pay this debt in regular c Paymeuts ai~d to pay the debt in full not later.'x~N,an SEPTEMBER 01, 2033 . roperty" means the property that is described below under the heading "Transfer of Rights in the means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due aud all sums due under this Security Instrument, plus interest. Single.Family-Fannie Mae/Freddie Mac UN~ORM INSTRUMENT Page 1 Gl 11 (0005) CHL (08100)(d) VMP MORTGAGE FORMS - [800)521-7291 031136356000002006- * means all Riders to this Scour executed by Borrower [check 'ustable Rate Rider ~[~ Condominiun der Planned Unit __ .VA Rider ["--] Biweekly Pay means all controllin administrative rules and orders finions. ty Association Dues, Fees, an¢ are imposed on Borrower or the Pre ilhr Organization· Funds Transfer" means any tr Similar paper instrmnent, which is ini: or magnetic tape so as to order, ins~ term includes, but is not lira transfers initiated by telephone, win Items!' means those items that an . Proceeds" means any eomI (other than insurance proceeds pa destruction Of, the Property; (ii) condemn in liea of condemnation; or (iv) on of the Property. ~rtgage Insurance" means insurance p Payment" means the regularly s, any amounts under Section 3 of thi means the Real Estate Settleme~ :ulation, Regulation X (24 C.F.I~ or ~uccessor legislation or reguh iInStrument, "RESPA" refers to all rec related mortgage loan" even if the L li:eeSsOr in Interest of Borrower" meam /has assumed Borrower's obligations un¢ FER OF RIGHTS IN THE PROPERTY ,':.: 8 8 DOC ID #: 0003113635608003 y Instrument that are executed by Borrower. The following .x as applicable]: Rider ~[~ Second Home Rider )evelopment Rider L_..J 1-4 Family Rider nent Rider [--] Other(s) [specify] applicable federal, state and local statutes, regulations, that have the effect of law) as well as all applicable final, AsseSsments" means all dues, fees, assessments and other perty by a condominium association, homeowners association ansfer of funds, other than a transaction originated by check, iated through an electronic terminal, telephonic instrument, uct, or authorize a financial institution to debit or credit an ited to, point-of-sale transfers, automated teller machine transfem, and automated clearinghouse transfers. tescribed in Section 3. ,ensation, settlement, award of damages, or proceeds paid by under the coverages described in Section 5) for: (i) damage ~tion or other taking of all or any part of the Property; (iii) fisrepresentations of, or omissions as to, the value and/or ~tecting Lender against the nonpayment of, or default on, the :heduled amount due for (i) principal and interest under the ~ Security Insts'ument. ~t Procedures Act (12 U.S.C. Section 2601 et seq.) and its · Part 3500), as they might be am'ended from time to time, or tion that governs the same subject matter. As used in this tirements and restrictions that are imposed in regard to a an does not qualify as a "federally related mortgage loan" any party that has taken title to the Property, whether or not er the Note and/or this Security Instrument. InstrUment secures to Lender: (i) of the Note; and (ii) the perfornq instrument and the Note. For this purp! Lender's successors and assigns, witl COUNTY ]Type of Recording Jurisdiction] OF STAR VALLEY RANCH PLAT ;IAL PLAT THEREOF. ~1 iD Number: 1235192440205100 441 ASPE1 WAY, 83127- 3127 ("Property Address"): / treadCityl [Zip Code] tire repayment of the Loan, and all renewals, extensions and ance of Borrower's covenants and agreements under this ~se, Borrower does hereby mortgage, grant and convey to power of sale, the following described property located in of LINCOLN : [Name of Recording Jurisdiction] LINCOLN COUNTY, WYOMING AS DESCRIBED THAYNE which currently has the address of (0005) CHL (08/00) ~a0e z of; 1 Initials " ,'..,-Form 3051 1101 .69 DOC ID #: 0003113635608003 WITH all the improvements now or hereafter erected on the property, and all easements, lances, and fixtures now or hereafter a I~,art of the property. All replacements and additions shall also '.!i bY this. Security Instrument. Ail of~ne foregoing is referred to in this Security Instrument as the that Borrower is lawfully seised of the estate hereby conveyed and has the grant and convey the Property and that the Property is unencumbered, except for 'of record'. Borrower wan'ants a~d will defend generally the title to the Property against all demands; subject to any encumbranc,~s of record. SECURITY INSTRUMENT com~nes uniform covenants for national use and non-uniform With limited variations by jurisdiction to constitute a uniform security instrument covering real UNIFORM COVENANTS. Borrower and I}ender covenant and agree as follows: pal, Interest, Escro~ Items, Prepayment Charges, and Late Charges. Borrower ' when due the principal of, and inter~st on, the debt evidenced by the Note and any prepayment t lot, charges due under the Note. I]lorrower shall also pay funds for Escrow Items pursuant to Payments due under the Note andlthis Security Instrument shall be made in U.S. currency. ',".if check or other instrument received by Lender as payment under the Note or this Security ht"i~ returned to Lender unpaid, Lende.~ may require thai: any or all subsequent payments due under :a~d 'thi~: Security Instrument' be made iT one or more of th_e, following forms, ,_as selected by Lender: ,.i(b) money order~ (c) certified check, b~,nk check, treasurer s check or cashier s check, provided any i is drawn upon an institution whoseaeposits are insured by a federal agency, instrumentality, or Electronic Funds Transfer. deemed received by Lender ~ hen received at the location designated in the Note or at such location"as may be designated by Lender it ;?retUi~f any payment or partial payment if t oaii' i:urrent. Lender may accept any paymenl of any rights hereunder or prejud ~iti~i/61 but Lender is not obligated to apply st accordance with the notice provisions in Section 15. Lender ~e pa3anent or partial payments are insufficient to bring the or partial payment insufficient to bring the Loan current, ce to its rights to refuse such payment or partial payments in eh payments at the time such payments are accepted. If each is applied as of its schedulec due date, then Lender need not pay interest on unapplied (Leader'may hold such unapplied funds t~ntil Borrower makes payment to bring the Loan current. If wet'does not do so within a reasonable period of time, Lender shall either apply such funds or return i~!BOrroWer. If not applied earlier, such fun~ls will be applied to the outstanding principal balance under ?N~t~:immediately prior to foreclosure. No off, et or claim which BorroWer might have now or in the future ,t"Lender Sba'Il relieve Borrower from making payments due under the Note and this Security Instrument ['orming the c~venants and agreements secu~'ed by this Security Instrument. ,. Apphcat~on of Payments or Proceeds. l~xcept as otherwise described in this Section 2, all payments ei~ :ai~d applied by Lender shall be applied]in the following order of priority: (a) interest due under the (b}:'i~rinciPal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to odic Paytnent in the order in which it became due. Any remaining amounts shall be applied first to l~it~':gl~'~rges, second to any other amounts due umter this Security Instrument, and then to reduce the principal Note. receives a payment from Borrc to pay any late charge due, the than one Periodic Payment is to the repayment of the Periodic Paym~ ILiTo. the extent that any excess exists after ti ic ·Payments, ·such excess may be applied t first to any prepayment charges and then a ~'application of payments, insurance proc not extend or postpone the due date, or ?unds for EsCrow Items. Borrower shall itil-the Note is paid in full, a sum (th and.assessments and other items which ca~ on the Property; (b) leasehold payrn insurance required by Lender under payable by Borrower to Lender in with the provisions of Section 10. Th~ ing the term of the Loan, Lender ma if any, be escrowed by Borrower, an promptly furnish to Lender all noti¢ I~hder'the FUnds for Escrow Items unless Lei ~er for a delinquent Periodic Payment which includes a payment may be applied to the delinquent payment and the outstanding, Lender may apply any payment received from ;nts Jf, and to the extent that, each payment can be paid in ~e payment is applied to the full payment of one or more to any late charges due. Voluntary prepayments shall be ; described in the Note. eeds, or Miscellaneous Proceeds to principal due under the :ha.nge the amount, of the Periodic Payments. pay: to Lender on the day Periodic Payments are due under "Funds") to provide for payment of amounts due for: (a) attain priority over this Security Instrument as a lien or nts or ground rents on the Property, if any; (c) premiums Section 5; and (d) Mortgage Insurance premiums, if any, or eu of the payment of Mortgage Insurance premiums in ;e items are called "Escrow Items." At origination or at any require that Community Association Dues, Fees, and such dues, fees and assessments shall be an Escrow Item. es of amounts to be paid under this SeCtion. Borrower shall tder waives Borrower's obligation to pay the Funds for any Items. Lender may waive Borrower ' ' '.i':.:% y"time. Any sUch waiver may only be i · :: !ii:.:i;~..::: .' f ~'~ yi~ when and where payable, the alnounts d ::.i'.~:':':::":~..~);[~h''. ~aived by Lender and, if Lender r~ (oo05) OHL (08/00) obligation to pay to Lender Funds for any or all Escrow writing. In the event of such waiver, Borrower shall pay ae for any Escrow Items for which payment of Funds has quires, shall furnish to Lender receipts evidencing Initials~ ~1~"4[ Rage 3 o! 11 /Fbrm 3051 1/01 v70 DOC ID #: 0003113635608003 such time period as Lender may require. Borrower's obligation to make such payments pts shall for all purposes be deemed to be a covenant and agreement contained in this as the phrase" - covenant and agreement is used in Section 9. If Borrower is obligated to y, pursuant to a waiver, and Borrower falls to pay the amount due for an Escrow Item, ege~ise its rights under Section 9 and pay such amount and Borrower shall then be obligated .to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow a notice given in accordance with Section 15 and, upon such revocation, Borrower shall ntis, and in such amounts, that are then required under this Section 3. Lendefmay, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require REsPA:. ' Lender shall estimate the amount of Funds due on the basis of current data and reasonable of future Escrow Items or otherwise in accordance with Applicable Law. be held in an institution whose deposits are insured by a federal agency, instrumentality, Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home shall apply the Funds to pay lhe Escrow Items no later than the time specified under shell not charge Borrower for holding and applying file Funds, annually analyzing the escrow 'ifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Lender to make such a charge. Unless an agreement is made in writing or Applicable Law to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. to Borrower, without charge, an annual accounting of the Funds as required by RESPA. flus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined Lehder shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the to make up the shortage in accordance with RESPA, but in no more than 12 monthly is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify i...~eqtiired by RESPA, and Borrower shall pay to Lender the amount necessary to make up the a accordance with RESPA, but in no more than 12 monthly payments. paYtneflt in full of all sums secured by this Security Instrument, Lender shall promptly refund to Funds held by Lender. Liens. Borrower shal~ pay all taxes, assessments, charges, fines, and impositions attributable which can attain priority over this Security Instrument, leasehold payments or ground rents on and Community Association Dues, Fees, and Assessments, if any. To the extent that these scrow Items, Borrower shall pay them in the manner provided in Section 3. promptly discharge any lien which has priority over this Security Instrument unless (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to dY SO long as Borrower is performing such agreement; (b) contests the lien in good faith by, or of the lien in, legal proceedings which in Lender's opinion operate to prevent· the lien while those proceedings are pending, but only until such proceedings are concluded; seetires from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this If Lender determines that any part of the Property is subject to a lien which can attain s Security Insu'ument, Lender may give Borrower a notice identifying the lien. Within l0 days .which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set 14. ~ay.require Borrower to pay a one-time charge for a real estate tax verification and/or reporting ,,.Lenderin connection with this Loan. Borrower ,shall keep the improvements now existing or hereafter erected on the loss by fire, hazards included within the term "extended coverage," and any other rig, but not limited to, earthquakes and floods, for which Lender requires insurance. This .: be maintained in the amounts (including deductible levels) and for the periods that Lender Lender requires pursuant to the preceding sentences can change during the term of the Loan. · carrier prOviding the insurance shall be chosen by Borrower subject to Lender's right to B°f'i'°Wer's choice, which right shall not be exercised um'easonably. Lender may require Borrower ~ecti°n with this Loan, either: (a) a one-time charge for flood zone determination, certification ."/raeklng':s'~rvic/~s;. . or (b) a one-time charge for hood zone determination and certification services and each time remappings or similar changes occur which reasonably might affect such ton of certification. Borrower shall also be responsible for the payment of any fees imposed by the Management Agency in connection with the review of any flood Zone determination Borrower. ..fails to maintain any of the coverages described above, Lender may obtain insurance · option and Borrower's expense. Lender is under no obligation to purchase any particular ~nt Of coverage. Therefore, such coverage shall cover Lender, but might or might not protect · . . ..~ equity in tile Property, or the contents of the Property, against any risk, hazard or ' CHL (08~00) Page 4 of 11 '/:form 3051 1101 l~i:'provide greater or less.'r co' _ :?for'the insurance coverage fo ob have Obtained. Any amourts di., by this Security Instn and shall be p~yabh policies required by Leader: policies, shall include a sta or as ~fi:'~iiiditi0nal loss payee. Lender shall orrower shall promptly give t~ form of insurance cove Property, such policy or as an additional loss payee. 'of loss, Borrower shall give pi if not made promptl.,, by nSiinlnce proceeds, whether ar no or repair of the Pmpert :nOi lessened. During such re' until Lender has had satisfaction, provid{ the repairs and -estor '~0~pieted. Unless an agreement rance proceeds, Lender ,-hall: i~tS~ fo? public adjusters, o' othe and shall be the sole or Lender's security woul, .... ~:'tl~!~ Security Instrument, wheth be applied inthe o the Property, Lende~ arrower does not mspm settle a claim, then Lende~ DOC ID ~: 0003113635608003 erage than was previously in effect. Borrower acknowledges ained might significantly exceed the cost of insurance that mrsed by Lender under this Section 5 shall become additional ment. These amounts shall bear interest at the Note rate from with such interest, upon notice from Lender to Borrower [nd renewais of such policies shall be subject to Lender's right ~dard mortgage clause, and shall name Lender as mortgagee have the right to hold the policies and renewal certificates. If > Lender ail receipts of paid premiums and renewal notices. If rage, not otherwise required by Lender, for damage to, or ~clude a standard mortgage clause and shall name Lender as 'ompt notice to the insurance carrier and Lender. Lender may Bon'ower. Unless Lender and Borrower otherwise agree in t the underlying insurance was required by Lender, shall be ~,, if the restoration or repair is economically feasible and >air and restoration period, Lender shall have the fight to hold . opportunity to inspect such PropertY to ensure the work has d that such inspection shall be undertaken promptly. Lender ation in a single payment or in a series of progress payments is made in writing or Applicable Law requires interest to be mt be required to pay Borrower any interest or earnings on r third parties, retained by Borrower shall not be paid out of obligation of Borrower. If the restoration or repair is not I be lessened, the insurance proceeds shall be applied to the :r or not then due, with the excess, if any, paid to Borrower. 'der provided for in Section 2. may file, negotiate and settle any available insurance claim d within 30 days to a notice from Lender that the insurance 'may negotiate and settle the claim. The 30-day period will is given. In either ever t, or if Lender acquires the Property under Section 22 or B~i~i" hereby assigns to Lender 0 [) Borrower's rights to any insurance proceeds in an amount unpaid under the Not~ or this Security Instrument, and (b) any other of Borrower's -...~. ght to any refund of anearped premiums paid by Borrower) under all insurance policies insofar as such righ-.s arelapplicable to the coverage of the Property. Lender may use either to repair or t'eatore ~he Property or to pay amounts unpaid under the Note or this i whether or not thett due. .... "~" "::'::::t~Y~ Borrower shall occup>,, establish, and use the Property as Borrower's principal residence ift~r the execution of this oecurtty Instrument and shall continue to occupy the Property as il~al residence for at least one ~,ear after the date of occupancy, unless Lender otherwise "~vhich consent shall not b~ unreasonably withheld, or unless extenuating circumstances exist r's control. ,' Maintenance and Proration of the Property; Inspections. Borrower shah not :'~ ":'~'~ : )air the Property', allow tl~e Property to deteriorate or commit waste on the Property, ~.r is residing in 'the Prope[t.y, Borrower shall maintain the Property in order to prevent ~°rating or decreasing it~ ~ alue due to its condition. Unless it is determined pursuant to restoration is not eccnomi :ally feasible, Borrower shall promptly repair the Property if :' deterioration or dan Lage, If insurance or condemnation proceeds are paid in '"~ to, or the taking of, ~e Property, BOITOWer shall be responsible for repairing or :~ only if Lender has re easec proceeds fOr Such purposes. Lender may disburse proceeds .,..? 'and restoration in a single pay~nent or in a series of progress payments as the work is :':'"':':::'~:: insurance or condemnation proceeds are not sufficient to repair or restore the Property, no(r~lieved of Borrower's obligation ~or the completion of such repair or restoration. .~ ...... ~..~ii~.. ~hiier or..its~'agent may make reasonabk entries upon and inspections of .the Property. If it has '"~',~!:'.i(:. "r~aSonable' C~iU.se,':Lender may inspect the nteri~r of the improvements on the Property. Lender shall give · ~:iii:?"i'.:~/;".:i:B~t:°~%i::ntti~e' ili'the'time of or prior to such an nterior inspection specifying such reasonable cause. '; :. i:(~!ii';-?':'.:'!'ji:~>'}' 8.: BOri'o~Ver,S Loan Application. Bogowe ' shall be in default if, during the Loan application process, i :¢'(0:'.'"i':'B0~0wer 07 :an~/--'isersons or entities acting at ~e direction of Borrower or with Borrower's k~owledge or .,!?ii!!?:~c.og~ent'g~ve materiaily false, misleading, or inaccurate information or statements to Lender (or failed to -:~'.i.:i'..?;ii!:?;.::~)provide L~nder i~ith material information) in con~ectio_n, with the Loan. Material representations i,n_clude, but i":) ?:J 'ii?i':'! ~i%?fitfiimit~d'.~{o; representations concernirg Bo[rower s occupancy of the Property as Borrower s principal ~'.: ?., .'! :,:.~? .: :,~:-: ,reSidenc~-~. .! Initials ':-::; CHL (08/00} ~age 5 of 11 5'1 1/01 2 72 , ~ DOC ID #:. 0003113635608003 Lender's· Interest in the Property and Rights Under this Security Instrument. If (a) the covenants and agreements contained in this Security Instrument, (b) there is a :might significantly affect Lender's interest in the Property and/or rights under this (Such as a Proceeding in bankruptcy, probate, for condemnation or forfeiture, for which may attain priority over this Security Instrument or to enforce laws or BOrrower has abandoned the Property, then Lender may do and pay for whatever is late t° protect Lender's interest in the Property and rights under this Security Instrument, and/Or assessing the value of the Property, and securing and/or repairing the Property. a:' Aeti6Aa~6an include, but are not limited to: (a) paying any sums secured by a lien which has priority ; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its ' and/or rights under this SecuritY Instrument, including its secured position in a ing.'.'Securing the Property includes, but is not limited to, entering the Property to make replace or board up doors and windows, drain water from pipes, eliminate building or or' dangerous conditions, and have utilities turned on or off. Although Lender may take 9, Lender does not haX~e to do so and is not under any duty or obligation to do so. It incurs no liability for not taking any or all actions authorized under this Section 9. ,y Lender under this Section 9 shall become additional debt of Borrower secured These amounts shall'bear interest at the Note rate from the date of disbursement i!e~ With such interest, upon notice from Lender to Borrower requesting payment. a~ity Instrument is on a leasehold, Borrower shall comply with ail the provisions of the lease. Uii:es fee' title to the Property, the leasehold and the fee title shall not merge unless Lender g. insurance. If Lender required Mortgage Insurance as a condition of making the LOan, required Io ma,~ntain the Mortgage Insurance in effect. If, for any reason, the verage required by Lender ceases to be available from the mortgage insurer that such insurance and Bon'ower was required to make separately designated payments for Mortgage Insurance, BorroWer shall pay the premiums required to obtain coverage .~.. the Mortgage Insurance previously in effect, at a cost substantially equivalent to the · MoFtgage Insurance previously in effect, from an alternate mortgage insurer selected ti·ally equivalent Mortgage Insurance coverage is not available, Borrower shall continue . . ~'am0unt of the separately designated payments that were due when the insurance coverage ~'ff'e~t. Lender will accept, use and retain these payments as a non-refundable loss reserve in Such loss reserve shall' be non-refundable, notwithstanding the fact that the Loan full, and Lender shall not be required to pay Borrower any interest or earnings on such er·can no longer require loss reserve payments if Mortgage Insurance coverage (in the that Lender requires) provided by an insurer selected by Lender again becomes ~nd Lender requires separately designated payments toward the premiums for Mortgage uired Mortgage InsuranCe as a condition of making the Loan and Borrower was designated payments toward the premiums for Mortgage Insurance, Borrower i i'equired to maintain Mortgage Insurance in effect, or to provide a non-refundable loss ~er, s requirement for Mortgage Insurance ends in accordance with any written agreement · ~i:.i~' .:~nd Lender providing for such termination or until termination is required by Applicable Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. mburses Lender (or any entity that purchases the Note) for certain losses it may !: not repay the Loan as agreed. Bo~xower is not a party to the Mortgage Insurance. evaluate their total risk on all such insurance in force from time to time, and may enter th :'0ther parties that share or modify their risk, or reduce losses. These agreements are on that are satisfacti)ry to the mortgage insurer and the other party (or parties) to these may require the mortgage insurer to make payments using any source of funds i'insd{er may have aVailable (which may include funds obtained from Mortgage Insurance i:i~f: t~eSe agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any iiiate of any of the foregoing,, may receive (directly or indirectly) amounts that derive :rized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for 0r m6difYifig: the mortgage insurer's risk, or reducing losses. If such agreement Provides that an ii.ate 0~.L~d~l~i:iakes a share of the insurer's risk in exchange for a share of the premiums paid to the often termed "captive reinsurance." Further: will nOt affect the amounts that Borrower has agreed to pay for Mortgage :terms of the Loan. Sue, h agreements will not increase the amount Borrower will Insurance, and they Will not entitle Borrower to any refund. Page 6 of 11 Iniliala:~ ? ,Orm aOS ='.'~' : DOC ID #:: 0003113635608003 ~ 'agreements will not affect the rights Borrower has - if any - with respect to the Under the Homeowners Protection Act of 1998 or any other law. These rights may certain disclosures, to request and obtain cancellation of the Mortgage ....... MOrtgage Insurance terminated automatically, and/or to receive a refund of any ":' "'::" premiums that were unearned at the time of such cancellation or termination. :of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby Paid to Lender. such Miscellaneous Proceeds shall be applied to restoration or repair of the or repair is economically feasible and Lender's security is not lessened. During such hnd rest6m~ii6~'period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has nSpect such Property to ensure the work has been completed to Lender's satisfaction, i' inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in in a series of progress payments as the work is completed. Unless an agreement is Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or i feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall ~i'nls i,~eCured by this Security Instrument, whether or not then due, with the excess, if any, Such.Miscellaneous Proceeds shall be applied in the order provided for in Section 2. ::6fa iotal taking, destruction, or toss in value of the Property, the Miscellaneous Proceeds sums secured by this Security Instrument, whether or not then due, with the excess, if ufa Pa~iai taking, destruction, or loss in value of the Property in which the fair market value before the partial taking, destruction, or loss in value is equal to or greater than sums ~6cured by this Security Instrument immediately before the partial taking, destruction, i'"in!'~'filue,~'t~niess: BOrrower and Lender otherwise agree in writing, the sums secured by this Security by the amount of the Miscellaneous Proceeds multiplied by the following fraction: Sums secured immediately before the partial taking, destruction, or loss in value (~harket 'value of the Property immediately before the partial taking, destruction, or loss be paid to Borrower. i'~attiai taking, destruction, or loss in value of the Property in which the fair market value y before the partial taking, destruction, or loss in value is less than the amount of before the partial taking, destruction, or loss in value, unless Borrower and '" i"in writing, the Miscellaneous' Proceeds shall be applied to the sums secured by this Wh~ther or not the sums are then due. P/-~per~? abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing next sentence) offers to make an award to settle a claim for damages, Borrower fails to ....... 30 days after tl3e date the notice is given, Lender is authorized to collect and apply Mi~ei'lane~i~' Pl~0~:eeds. either to restoratic~ or repair of the Property or to the sums secured by this ! ~v~ether Or not then due. "Opposing Party" means the third party that owes Borrower the party against whom Borrower has a right of action in regard to Miscellaneous in default if any action or proceeding, whether civil or criminal, is begun that, in !:~°Uid result in forfeiture of the Property or other material impairment of Lender's interest under this Security Instrument. Borrower can cure such a default and, if acceleration provided in Section 19, by causing the action or proceeding to be dismissed with a ;judgment, precludes forfeiture of the Property or other material impairment of Lender's or rights under this Security Instrument. The proceeds of any award or claim for ~utable to the impairment of Lender's interest in the Property are hereby assigned and Le~de~.' that are not applied to restoration or repair of the.Property shall be applied in Section 2. Not Released; Forbearance By Lender Not a Waiver. Extension of the time for amortization of the sums secured by this Security Instrument granted by Lender to SucceSsor in Interest of Borrower shall not operate to release the liability of Borrower or any of Borrower. Lender shall not be required to commence proceedings against any of Borrower or to refuse to extend time for payment or otherwise modify amortization of Security Instrument by reason of any demand made by the original Borrower or any Any forbearance by Lender in exercising any right or remedy including, ,'~'Lender's acceptance of payments from third persons, entities or Successors in Interest of . a~n~n'is'less than the amount then due, shall not be a waiver of or preclude the exercise of any ht pi' reiiiedy, and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and ~ ·.obligations and liability shall be joint and several. However, any Borrower who ~::~C~signs this Security InStrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Initials:" ~) CHL {08/00) Page 7 o! 11 Form 3051 1/01 grant and convey not personally oblig any other BO,T. -~gard to the terms of of Section 18, a~ Instrument in wr -under this Security Instrume~ ihi; S'eo"rity Instrument unle ; instrument shall DOC ID #: 0003113635608003 the co-signer's interest ill the Property under the terms of this ~ted to pay the sums secured by this Security Instrument; and .,wet can agree to extend, modify, forbear or make any ~s Security Instrument or the Note without the co-signer's ly Successor in Interest of Borrower who assumes Borrower's ting, and is approved by Lender, shall obtain all of Borrower's ~t. Borrower shall not be released from Borrower's obligations ;s Lender agrees to such release in writing. The covenants and (except as provided in Section 20) and benefit the successors e Lender may charge[Borrower fees for services performed in connection with ::~ h: purpose of protecting Lender's interest in the Property and rights under this ~!ilding, but not limited[o, attorneys' fees, property inspection and valuation fees. In ;:the absence of express lluthority in this Security Instrument to charge a specific fee to ~°fistrued as a prohibitior~ on the charging of such fee. Lender may not charge fees that by this Security Instrum ;nt or by Applicable Law. eet to a law which sets ~er Idan charges collecteC afiy such loan charge any sums already may choose tmcnt to Borrowe~ any prepayment . acceptance of a imica waiv% °f ~nyright of action BOlTOW( naximum loan charges, and that law is finally interpreted so or to be collected in connection with the Loan exceed the hall he reduced by the amount necessary to reduce the charge :ollected from Borrower which exceeded permitted limits will make this refund by reducing the principal owed under the . If a refund reduces principal, the reduction will be treated as barge (whether or not a prepayment charge is provided for y such refund nmde by direct payment to Borrower will ;r might have arising out of such overcharge. given by Borrowe~ or Lender in connection with this Security Instrument must Borrower in conne :tion with this Security Instrument shall be deemed to have mailed by first ':lass nmil or when actually delivered to BorrOwer's notice ....... means..Notice to any 4ne Borrower shall constitute notice to ali Borrowers unless :a~!~: es!ly requu'es ofi~erwise. IThe notice address shall be the Property Address unless w~i:/i 'teil' fi substitute notice ac~Uress by notice to Lender. Borrower shall pro_,mptly notify ~' ~f"] ~ii ~n.ge Of address. If Len~ler specifies a procedure for reporting Borrowers change of is;':then Bi ~;"~fi~ll 0nly report a chan~e of address through that specified procedure. There may be ,ii'~.'d~i g~ ~tJ~ address under this SeCurity Instrument at any one time. Any notice to Lender shall en b~/~ eli '!g it°r by' mailing it by firstqlass mail to Lender's address stated herein unless Lender has rated a~io~her '~iddresS' by notice to Borro,~er. Any notice in connection with this Security Instrument i'ot~'be"~e&ned'~6 have bee,] given to Lender until actually received by Lender. If any notice required by ' this 'seeUfilY i'il~trQrn'efit i's also require:l under ~ pplicable Law, the Applicable Law requirement will satisfy :the' 60rr%Ptnding r~qfiii261~ent under this Securit, Instrument. 16. Gover~!.ng :.L.,9~;. Severability; Rules ,f Construction. This Security Instrument shall be governed ih and'the'law.of the jurisdiction n which the Property is located. Ail rights and obligations in Instrument are subje :t to any requirements and limitations of Applicable Law. nPlicitly or implicitly allow the parties to agree by contract or it might be silent, but be construed as a prohit itioa against agreement by contract. In the event that any 'this SeCurity Instrument o~ the Note conflicts with Applicable Law, such conflict shall assorts of this Security Inst'ument or the Note which can be given effect without the Security Instrument: (a)'words of the masculine gender shall mean and include 'neht~ ~3rds'0r words of the remit ine gender; (b) words in the singular shall mean and include v~ce.verSa; and (c) the word "ma ~" gives sole discretion without any obligation to take any Borrower s Copy. Borrower shall be gi~ )f the 'Property or a Bene '~ means any legal or ben, in a bond for · n~ it~he ii~ieni ~f Which is thc transfer of tit if all br an~ p~ 0f:~he Property or any Intere a'natural person anda beneficial interest in Bon ~require immediate paymen not be exercised by Let this option, Lender sh~ ess' than 30 days from ~ 'which BOrrO~6r must pay all sums secure~ of this period, Len or demand on Bt 'CHI; (08/00) en one copy of the Note and of this Security Instrument. ?icial Interest in Borrower. As used in this Section 18, ;ficial interest in the Property, including, but not limited to, deed, contract for deed, installment sales contract or escrow e by Borrower at a future date to a purchaser. st in the Property is sold or transferred (or if Borrower is not ower is sold or transferred) without Lender's prior written t in full of all sums secured by this Security Instrument. der if such exercise is prohibited by Applicable Law. Il give Borrower notice of acceleration. The notice shall he date the notice is given in accordance with Section 15 by this Security Instrument. If Borrower fails to pay these der may invoke any remedies permitted by this Security rrower. Inltial~: ~.~.~,.'.~,/' / ~ Page 8ol 11 / FOrm 3051 1/01 ''.:..:'.~':::~V?::~'~:.~;C:r; ~1 ' Borrower s Right to Reins 'tare After shall have thf't gaf tb h~e enforcement of tt ' · ~liest of: (a)five.day's: bbfo= sale of ~e Prq ..... as Applicabh .... ?..~..:~";InstrumenR (b) such '6~er period - '??~-~:~?~:~i~tt;~0~"~c) ~fit'~b~ a~j~'dgment enforcing ~ ~.:~'~;? ~?~:~l~rafi:~n h~d 0~C~' '(b)':cUres any defer : ..?:::;<?: ~: :~ mc'u~d: ~n. 'enf0rcmg ~is. Security Instrumer · . ":('.~??~(?~ PF~peng'ih~pectio~:~d ~]~ation fees, and eta, '~ ~':~;;~::?:~:~:ia'~h6 ~rtpeHy '.and?fi~hts 'u~der ~is S~urity k · ' ~?..~.d~.?.;'~:r~quire','~o assa~ that'Len~e~s interest in ~ ~:.~'B~tW~r's obligation to p~Y the sums secur~ I ~affe''~h'at ~er pay such reinstatem, ..~ b : nder/( ) Cash; (b) money orde~ :' ,'~? ty 'SUc~'eheck is drawn upon 7.5 DOC ID #: 00031:13635608003 Acceleration. If Borrower meets certain conditions, Borrower is Security Instniment discontinued at any time prior to the erty purSuant to any power of sale contained in this Security Law might specify for the termination of Borrower's right to his Security Instrument. Those conditions are that Borrower: due under this Security Instrument and the Note as if no of any other covenants or agreements; (c) pays all expenses including, but not limited to, reasonable attorneys' fees, ~r fees incurred for the purpose of protecting Lender's interest strument; and (d) takes such action as Lender may reasonably :. '.:'.?.¢'~(ii';/i i:' i'~' selected ",';!i?i?i!!:'::/: Ch ~CR, i~rOvidedan : ?i':ji:i!!'~ii~ii:,:' i' ihst~ime:~iality 6'i-:. entity; '~ i'::;:.?:':ii!'~}iii{:'i'~.~I HO~;~ei?~hi~ right fo"r~in~t;te'shall not :":' '7.:'('!.')?:"::'~::";'/': .7:20~ $~ie 'tf Note/'. .': :~(?~ "?:)::' ;. :;Ntt~'(t°~, is · ':~: :::(?:~::.::'~:'./.;~X'saie:mi Property and rights under this Security Instrument, and t this Security Instrument, shall continue unchanged. Lender ~t sums and expenses in one or more of the following forms, '; (c) certified check, bank check, treasurer's check or cashier's an institution whose deposits are insured by a federal agency, Or. (d) Electronic Fmxls Transfer. Upon reinstatement by Borrower, this Security hereby sh, 11 remaig fully effective as if no acceleration had occurred. ~t!~ apply i~ the case. of acceleration under Section 18. !a; ....... Change of Loan Servk er; Notice of Grievance. The Note or a partial interest in the etherlwith'ih , Security Instrument) Ca a be sold one or more times without prior notice to Borrower. . ..~ ght, reSu!t?~:a change in the entity (k~lown as the "Loan Servicer") that collects Periodic Payments ';diae Under:the'Noie?atid'thiaSecurity Instrument and performs other mortgage loan servicing obligations under ihe Not~, ~his' secufii~ ihg{~ment, and Applicat le Law. Them also might be one or more changes of the Loan '$~'.r~ticer finmlated 't0"ii'::i~le of the Note. If the.'e is a change of the Loan Servicer, Borrower will be given Wi-itt~n n0fic6 of the' chugS'which will state th~ name and address of the new Loan Servicer, the address to t 'ments.ShOu!dbe made and any other} information RESPA requires in connection with a notice of i ' servicingilf'the'Ntte is sold and the. teafter the Loan is serviced by a Loan Servicer other than the ' ffthe NOte ~ ~ge loan servicing obligations to Borrower will remain with the Loan Servicer · Loan Servicer and are not assumed by the Note purchaser unless otherwise nor Lender may comm indi¥iduai litigai~t 6?'the member of a class) thai ifis~lfi~nt or that al!eg~:~hai~the other party h~ Instturaent, until such Borrower or With ih~ '::~Ui~'m~nts of Section 15 ~nce, join, or be joined to any judicial action (as either an arises from the other party's actions pursuant to this Security ts breached any provision of, or any duty owed by reason of, Lender has notified the other party (with such notice given in of such~alleged breach and afforded the other party hereto a ......... giving of such notic~ to take corrective action. If Applicable Law provides a time which musi eiaPS~ befoi:e certai,~ action c an be taken, that time period will be deemed to be reasonable poses 6fthi~ pai-agraph'.:.. The nol~ce of ac!leleration, and opportunity to cure given to Borrower pursuant Section 22 and the':fl0fie~ of acceh~ration gi~,en to BOrrower pursuant to Section 18 shall be deemed to the ' l'i~ity to take corrective actiorl provisions of this Section 20. n~es, As used in thi~Section.21: (a) "Hazardous Substances" are those substances ~US substances, pollutants, or wastes by Environmental Law and the following ~sene, other flammablel or toxic petroleum products, toxic pesticides and herbicides, rials", containing asbestos or. formaldehyde, and radioactive materials; (b) ~ ins ~ederal laws and la~vs of the jurisdiction where the Property is located that relate 0t e~Vff0n~gental protection; fc) "Environmental Cleanup" inc!udes any response action, . .. ~ o[.,r~?v..a!.i,action, as defined i~ Envirofimental Law; and (d) an 'Environmental Condition" means a ~onditiOn'thht'can ~atise, contribute to, ~r otherwise trigger an Environmental Cleanup. . Bmx, owei-shgll n.o[.cag. Se. or permit the p~esenCe, Use, disposal, storage, or release of any Hazardous i ,S, o~, thrtaten 't~"releaSe any Hazardousl Substances, on or in the Property. Borrower shall not do, nor ~ "' ~ el~e"'i0 'do':, fin'~th'ing affecting the I r°perty (h) that is in violation of any Environmental Law, (b) i an En~irdnmeiltai Condition, or { :) which,', due to the presence, use, or release of a Hazardous ,, ~-. :.:.;(.?.,.!?;: ,.(: ?,.; ':,;: BOrrowe ':.:' :..:il.i?i-?i:i,?g;~b~tan~eS, oi :.: ).::.} ;::;.?!): i.:"aii6w. aiiyi:ine '"'-.'.?.'?';:":}:.'}';:'~h'iCh .'~ream~ .~ ".: .:?:~/.~..~'~ SubStanCe, creates a'con'dition that adversely al 'ecru the ~alue of ~e Property. The p~eding two ~ntences ?'}/:':,;5:'~h'dii not'&~p~9 t0:'~*:p~s~n'a~, use, or storage ~n me p~Operty of small qu~tities of : .' ?:}.~?)'~:thh:t ~re' g,fier~ifr*Cbgni~d to be appropriate t a normal residential uses ~d to maintenance of ~e Prope~ ~'?.~?:;¢;~.~..~'0nciUding~ but not 'li~ii~'i0', h~rdous substan, es in consumer produc~). · ~ ':.;:*:,:~ ~,':;.'(:~:. ~;~.~;}" .BOrroWer shall :~r°~Ptly' give Lender writt ~n notice:of (a) any investigation, claim, dem~d, lawsuit or · .:'~.:)???: ~:Oth~t. action: Uy any 'g~ge~menml or regulate, · .?:- 3,?}::.4:f:~:Ha~d6us SUbsmfice · . :' ~;?'?;;7: HaZa~dOus ~ronmental Law of /~'O~diti6n, in~ludi~ bU't ~not limited to, any sp Substance, and(c) any: condition eau '.:i.~'i:i'i.5 'adversely affectS' the Value of the Propen ]ulatory authority, 9r any private party, that :?:ii!i~:. 'iiii'affecting the property is necessary, Borrower sh~ · ::iiI?:' _i-):With EnVironmental Law. Nothing herein shall -. :,':;.,:: i': ::. '..:::::~i ~ "-'-: ~'::i','-i);:'.i.::: :': :.:' (oo05) CHL [08/00) y agency or private party involving the Property and any ~hich Borrower has actual knowledge, (b) any Environmental lling, leaking, discharge, release or threat of release of any ;ed by the presence, use or release of a Hazardous Substance y. If Borrower learns, or is notified by any governmental or ~y removal or other remediation of any 'Hazardous Substance il promptJy take all necessary remedial actions in accordance ~ate any obligation on Lender for an Environmental Cleanup. ....., Page 9 of 11 , Pof~l 3051 1/01 ~i ,. '<'..~.:<ii" , DOC ID %: 0003113635608003 -~ :NON~UNIFORM'C0~ENANTS. Borrower and Lender further covenant and agree as follows: ~ ~'c~eier~iofiii'i~e~'~dies. Lender shall give notice to Borrower prior to acceleration following ; b~ach!'°'fi:'afiy Cm;enant or agreement in this Secu~ty Instrument (but not prior to · '<?~:~':<~c~eiera~6n~.u6de~ Section 18 unless Appli~ble Law rovid~ o~erwi~ The notice sh~! s if · ....:..~ . ..... . ..... .. P ). ~ y.(a) tile 'defaUlt; (b) fl~e aCfi6n required to cure the defa~t; (e) a date, not i~ than 30 days from ~e ~te ~e .>':~??::'>:~?°~iCe is'given't0'Borr0~e~;..by whk:h the default m~t ~ cu~; and (d) ~at failure to c~e ~e defa~t :':'~'~:~?~?:~:;~:.~;~:on..or'befo. g~ ~?~da~'s,p~dfied in the noti~ may r~ult in acceleration or the su~ s~r~ by ~ ;:?~?~curity ~strument: nhd sale 0f the Property. The nofl~ sh~ further i~orm Borrower of ~e fight to ~.~ins~'~Re~a~dele~atl0n'and the fight to ~riag a ~t action to ~se~ ~e non-existence of a default :~':~/~?~??~'~nY°[h~:d~e~s~°f"BO~OWer to acceleration and ~le. ff ~e default is not cured on or before ~e .'.':-~?:~:?~?~da[e' sPeCified': i6 the~.~0'fi~e; Le~der at its opaon ~y requi~ imme~ate payment la f~l of MI s~ ~ ~=,:~SeC~ed by thiS."S~cU~i~ ~stgument without ar~r demand ~d may invoke the ~wer of sale and any .:>'~::.:~:~,::'~::~:::':.~fller remedi~'P~mitt~d ~APplicable Law, Le~er ~all be enfifl~ ~ coast ~ ~m~ inc~r~ in :.//'~:~'~?<~;oU~s~g~ th~ ~e~d~S/~0'~i~ed in tiffs Section 22, induing, but not H~ted to. re~nable attorneys' ?/.~:'.'~ L~hder in~°k~S:~h~ P6wer of sale, Lender'sh~ ~ve no~ of intent to forecl~e to Borrower and '~ ./.~?~.:.-t~'.~a~ p~t~n"~n :~0~s~i°"~J'a,~ Property, ~f Zffe~n~ ~n ac=ordan=~ ~m AppU~M~ Law. ~nder ,< :/~'~:~.:~?<~.ghall giv~hotice.6fthe, gai~ t0 Borr0.wer in tl!e manner provided in S~on ~. Lender sh~l pub~h ~e ~::~??~.~?/:::~nba& ~r~ai~;~a~'aicPr'0~=~tr ~hal~ b~ ao~d in m~ manner pr~cribed by Appli~ble Law. Lender or i~ -~?'?~degignee :m~Y~ Ph~h~se:~:~tO~' Pr0per~ at any s~ ~e pr~ of ~e sale sh~i be appli~ in ~e f°ii0win~:°rdef:'~(a) tb'~il'~xgenses of the sale, intuit, but not Hmit~ to, r~onable attorneys f~s; ~-~??~:~.~b)':~ .a.:sU~' ~=a~ea~bg-:-ihs S~curity ~n,trum~nt; ~d (~) ant ex~ to m~ ~=on or p~r,o~ ~e~a"r '.~'~/"~:?~'~'<~:~ ~'>~.23~ Rele~e'~ UPb~: paY.~ent of all sums seCu~ by ~is Security lns~ment, ~nder shall ml~e ~is : .":'::'~;~:'~.':.:~?Sec~hy I~S~t.~B~fro~er'Shall pay any rec°~fion cos~. ~nder may charge Boffower a f~ for · /mie~SifigthiSsecuritY:i'ns~d~ent,~ but 0nly if the fee is paid to a ~ p~y for servic~ rendered ~d ~e '~:.':~ 6h~ging 'or~e fee is.permiset Under Applicable Law. ~.;?':~'24. w~ivers. B0~r~ef rele~es and waives all figh~ under ~d by vi~ue of the homestead exemption SIGN~G Borrower accepts ~d agrees to the te~s and coverture contained in ~is y Rider executed by Bo~wer and r~orded wi~ it. DELORES C. SCHOONOVER (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (08/00) Page I0 of 1 ! Form 3051 1/01 277 DOC ID %: 0003113635608003 County s~: ~Wr;~/ Page 11 of 11 3051 1/01 £?8 F~-lOBn62 M [Escfow/Cl ~sin~ #] 0003113635608003 [Doc ID #] i DEVELOPME~qT RIDER is made this NINETEENTH day of ", fl'is incorporaled into and shall be deemed to amend and supplement the i ;6¢Urity Deed I(the "Security Instrument") of the same date, given by the giied ~the."Boixower!'.)'io ~sei:ure Borrow4r's Note :o ......... 5: 'HoME:jsOANS, INC. ., : d~te and covering thq Property described in the Security Instrument and located at: :~? .,. .... . f<!.~:'; ,,;?.!~'~':.i;:=i.. 4411 ASPEN WAY - Fannie M~ae/Freddle Mac UNIFORM INSTRUMENT / Page 1of 3 VMP MORTGAGE FORMS - (800)521-7291 * 03 1 1 363 56000002 00IR* DOC ID #: 0003113635608003 to, a parcel of land improved with a dwelling, together with other such common areas and facilities, as described in DvEN~5:~;:i: c~0NDiTIONS, AND RESTRICTIONS FILED OF RECORD a part of a planned unit development known as STAR VALLEY RANCH [Name o~ Planned Unit Development] c'ai~ includes Borrower's interest in the homeowners association or equivalent entity ion areas and facilities of the PUD (the "Owners Association") and the uses, interest. -~ ~'addition to the. covenants and agreements made in the Security Instrument, · . x covenant and agree as follows: :~.~i shall perform all of Borrower's obligations under the PUD's Constituent a,'e the (i) Declaration; (ii) articles of incorporation, trust instrument which'creates the Owners Association; and (iii) any by-laws or other rules or Borrower shall promptly pay, when due, ali dues and assessments · : :"': ~ursuant t0'th~' c0nstituent Documents. .:~'i ~rance~ SO long as the Owners Association maintains, with a generally accepted insurance ..' licy insuring the Property which is satisfactory to Lender and which Provides ~ ..; ~;:: (including deductible levels), for the periods, and against loss by fire, .: "extended coverage," and any other hazards, including, but not limited to, - I.ender requires insurance, then: (i) Lender waives thc provision in Section 3 :i/;ii.::. i~b.Lei~der of the yearly premium installments for property, insurance on the Property; ' ':'~'~' '~T~: atiOn' under Section 5 to maintain property insurance coverage on the Property is required coverage is provided by thc Owners Association policy. ::What condition of this waiver can change during the term of the loan. prompt notice of any lapse in required property insurance coverage provided ff property insurance proceeds in lieu of restoration or repair following a loss areas and facilities of the PUD, any proceeds payable to Borrower are hereby Lender. Lender shall apply the proceeds to the sums secured by the Security 'th~h dUC, with the excess, if any, paid to Borrower. iimuranCe; Borrower shall take such actions as may be reasonable to insure that the ASs6tiatio/i"m~fi~fiin~g :~ ~ublic liability insm'ance policy acceptable in form, amount, and extent of proceeds of any award or claim for damages, direct or consequential, payable to . orrower, m 8onncbfi°h'~ith ai~ 8ondcmnation or other taking of all or any part of the Property or the common :area's and.facilities of the PUD~ 0r for any conveyance in lieu of condemnation, are hereby assigned and shall be Lender::SUCh pr0ce~ds s!iall be applied by Lender to the sums secured by the Security Instrument as . !.':;i:; E, Lender's P~ioi;. Borrower shall not, except after notice to Lender and with Lender's prior the Property or consent to: (i) the abandonment or termination of . ~ . abandpnn%ht or termination required by law in the case of substantial destruction by fire or -..?i!:i' ~ther.cas6a!ty' o[.'ln' the~hse:'?of ~ taking by condemnation or eminent domain; (ii) any amendment to any .'??:~:i-;:c:-! ::.:P~OvisiOi~ Sfthe ;c6~ishthen.i D6$ii,nents" if the pr°vision is for the express benefit of Lender; (iii) t~rmination . . ,:~ ;': .- .. - .." :..' . '. ,.::.'' and assur ! amounts BY.SIGN/NG BELOW; 280 DOC ID #: 0003113635608003 self-management of the Owners Association; or (iv) any action public liability insurance coverage maintained by the Owners P~JD dues and assessments when due, then Lender may pay them. p~ragraph F shall become additional debt of Borrower secured by ~er and ~_ender agree to other terms of payment, these amounts shall bear ~ at the Note rate and shall be payable, with interest, upon notice from and ~grees to the te ~rt~s and provisions contained in this PUD Rider. (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower Page 3 ol 3 Form 3150 1/01