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HomeMy WebLinkAbout893465Return To: HOI~mCOMINGS FINANCIAL NETWORK, INC ONE MERIDIAN CROSSING, STB 100 MINNEAPOLIS, MN 55423 I. oan Number: 041-796218-0 Prepared By: HomeComings Financial Network 1687 ll4th Ave. SE, Suite 100 Bellevue, WA 98004 BOO~~4 PR PAGE [Space Above Tlds Line F,,r MORTGAGE MIN 100062604179621802 DEFINITIONS Words used iu multiple sections of tiffs document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Secnrity Instrument'' means this document, which is dated together with all Riders to this document. (B) "Borrower" is STEVEN THOMAS ANNALA AND PAULA A. ANNALA SEPTEMBER 3RD, 2003 ~Husband and Wife Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electro~fic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a noufinee for Lender and Lender's successo,'s and assigns. MERS is the mortgagee under this Security Instrumeut. MERS is orga~fized and existing under the laws of Delaware, and has au address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUIVIENT WITHMERS MFWY7770 (11/00) / 041-796218-0 ~®-6AIWY) ~ooos).o~ VMP MORTGAGE FORMS - (800)621-7291 Form 3051 1/01 (D) "Lender" is HOMECOMINGS FINANCIAL NETWORK, INC. Lender is a CORPORATION orga~fized and existing under d~e laws of DELd~WARE Lender's address is 1687 ll4TH AVE. , SE, SUITE 100 BELLEVUE, WA 98004' (E) "Note" ~neaus die promissory note signed by Borrower and dated SEPTEMBER 3RD, 2003 The Note states that Borrower owes Lender NINETY NINE THOUSAND TWO HUNDRED AND NO/10 0 Dollars (U.S. $ 99,200.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than OCTOBER 1ST, 2033 (F) "Property" means the property that is described below under file heading "Transfer of Rights in the Property." (G) "Loa," means the debt evidenced by fl~e Note, plus iuterest, any prepayment charges and late charges due under the Note, and all sums due under fids Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ~ Adjustable Rate Rider ~-~ Condomi~fium Rider ~ Second Home Rider ~ Balloon Rider ~'] Plam~ed Unit Development Rider ~ 1-4 Fanfily Rider [~1 VA Rider [---} Biweekly Payment Rider [---1 Oilier(s) [specifyl (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and adnfinistrative rules and orders (flint have the effect of law) ils well as all applicable dual, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, lees, assessments and other charges flint are imposed on Borrower or tim Property by a condonfinium association, homeowners association or similar orgarfization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or sinfilar paper instrument, which is initiated through au electrmfic ternfinal, telephomc i~strument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not liufited to, point-of-sale tra~ksfers, autmnated teller maclfine transactions, transfers i~fitiated by teleplume, wire transfers, and automated clearil}ghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, se(tlemcnt, award of damages, or proceeds paid by any third party (other titan insurance proceeds paid under the coverages described iu Section 5) Ibr: (i) damage to, or destruction of, the Property; (ii) condemnatio, or other taking of all or auy part of rite Property; (iii) conveyance in lieu of condenmation; or (iv) misrepresentations of, or onfissions as to, fl~e value and/or condition of the Property. (IN) "Mortgage Insurance" means insurance protectiug Lender against rite nonpayment of, or dehult on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under tim Note, plus (ii) any amounts under Section 3 of this Security Ii)strumcnt. (P) "RESPA" means the Real Estate Settle~nent Procedures Act (12 U.S.C. Section 2601 et seq.) and its implenrenting regulation, Regulation X (24 C.F.R. Part 3500), as they ~night be amended from time to time, or any additional or successor legislation or regulatiou that governs the same subject matter. As used in this Security Instrmnent, "RESPA" refers to all requiremcm.q and restrictions that are imposed in regard to a "federally related mortgage loan" even if the LOall does not qualify as a "federally related mortgage loan" under RESPA. MFWY7770 (11/00) / 041-796218-0 I~-~AlW¥1 (ooos).o~ P~2of~S Form 3051 1/01 (Q) "Successor in h]terest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under thc Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: ti) the repayment of ti'he Loan, and all renewals, extensions and modificatim~g of the Note; and (ii) the perforntauce of Borrower's covenants and agreements under this Security Instrument and the Note. For fllis propose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee fi)r Lender and Lender's successors and assigns) and to the successors and assigns of MERS,. with power of sale, the lbllowing described property located in the COUNTY of LINCOLN : {Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LOT 7 OF BLOCK 2 OF' THE LINCOLN HEIGHTS SUBDIVISION TO THE TOWN OF KEMMERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. ParcellD Number: 12-2116-14-4-25-217.00 739 EMERALD STREET KEMMERER ("Property Address"): which currently has the address of , {Street} {City] , Wyoming 83101 [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtemnces, and fixtures now or hereafter a part of fl)e property. All replacements and additions shall also be covered by this Security lnstrulnent. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds tuffy legal title to the interests granted by Borrower in tiffs Security Instrume,t, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has file right: to exercise any or all of those interests, inclnding, but not linfited to, the right to foreclose and sell file Property; and to take any action required of Lender including, bnt not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to lnortgage, grant and convey file Property and that the Property is unencumbered, except tbr encumbra~mes of record. Borrower warrants and will defend generally fl~e title to the Property against all claims and demands, subject to may encumbrances of record. THIS SECURITY INSTRUMENT combines unifimn covenauts lbr national use and nou-mfilbm~ covenants with linfited variations by jurisdiction to constitute a unilbnn security i~tstrument covering real property. MFWY7770 (11/00) / 041-796218-0 (~}~-6A(WY) ~ooosl.Ol P~g. 3o~15 /I, Form 3051 1/01 UNIFORM COVENANTS. Borrower and Lender covenant and agree ils/bllows: 1. Payment of Principal, Interest, Escrow l'tems, l'repayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges clue under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due nnder the Note and dfis Seem'iCy Instrument shall be made in U.S. currency. However, if any check or other instrulnent received by Lender tls payment under the Note or this Security Instrmnent is returned to Lender unpaid, Lender may require flint any or all subsequent payments due under file Note and tiffs Security Instrument be made :in one or more of the tbllowing forms, as selected by Lender: Ca) cash; Cb) money order; Cc) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn npou au institution whose deposits are insured by a federal agency, instrumentality, or entity; or Cd) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated iu the Note or at such other location as ]nay be designated by Lender in accordance with the notice provisions in Section 15. 'Lender may return any payment or partial payment if the payment or partial payments are iusufficient to bring the Loan current. Lender may accept any ipaymcnt or p:u'tial p:umeut insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its ~ights to refilse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current: If Borrower does not do so wiflfin a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such t'unds will be applied tofl~e outstanding principal balance under the Note i~mnediately prior to fi)reclosure. No olivet or claim which Borrower nfight have now or in the future against Lender shall ~clicve Borrower from making payments due under the Note and tiffs Security Instrument or perlbmfing rile covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in tlfis Section 2, all payments accepted and applied by Lender shall be al)plied iu thc fifllowiug order of priority: Ca) interest due under the Note; Cb) principal due under the N{~te; Cc) amotmts due nnder Section 3. Such payments shall be applied to each Periodic Payment in the order itl which it bec:,me due. Any remaining amounts shall be applied first to late charges, second to any other aulounts clue under this Security h~strument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment Which includes a sufficient amount to pay any late charge due, fl~e paymela may be applied to the delinqueut paymeut and the late charge. If more than one Periodic Payment is nutstanding, Lender nmy apply any payment received from Borrower to tim repayment of the Periodic Pay~ncnts if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payme.t is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as &scribed i, the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, m- chatme thc a,mumt, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender tm file day Periodic Paynmuts are due under the Note, until the Note is paid in full, a sum (thc "Funds") to provide fi)r payment of amounts due for: Ca) taxes and assessments and other items which can au:dh priority {>vel' this Security Instrument as a lien or encumbrance on the Property; Cb) leasehold payme~lts or ground rents on file Property, if any; Cc) prenfiums for any and all insurance required by Lender under Section 5; and Cd) Mortgage Insurance premiunk% if any, or any sums payable by Borrower ~o Lender iu lieu of the payment of Mortgage Insurance premiums in accordance with the provisions o1: Sectim~ 10. These items are called "Escrow Items." At origination or at any time during file term of tl~e Lmm, Lender may require that Commmfity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, aud such dues, lees and assessments shall be an Escrow Item. Borrower shall promptly flmdsh to Lender all notices of alnounts to be paid under this Section. Borrower shall pay Lender the [xtHids [:or Escrow Items unless Lender waives Borrower's obligation to pay file Funds Ibc any or all Escrow hems. Lender may waive Borrower's obligation to pay to Lender Funds Ibc any or all Escrow IIclu:; at m~y time. Any such waiver may Olfly be in writing. In the event of such waiver, Borrower shall pay dircclly, when and where payable, the amounts MFWY7770 (11/00) / 041:796218-0 (~-6A{WYI Iooosl.o~ Initials: v~'T~ Page 4 of 15 ~ t Form 3051 1/01 876 due for any Escrow Itenxs for which payment of Funds has bee, waived by Leuder and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such tittle period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall fi)r all purposes be deemed to be a covenant and agreement contained in fids Security lnslmmcnt, as the phrase "covenant attd agreemeut" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due tbr an Escrow Item, Lc~dcr may exercise its rights under Section 9 aud pa), such amount arid Borrower shall fl:ten be obligated under Section 9 to repay to Lender any such amouut. Lender may revoke tim waiver as to any or'all ~scrow ltems at any time by a notice giveu in accordance widr Section 15 and, upon such revocatiou, Bomm, er shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect aud bold Fuuds in :.t amount (at su fficieut to permit Lender to apply die Fnnds at die time specified under RESPA, alld (bt ]|ot to cxcccd fl~e maxiumm a]nouut a lender eau require under RESPA. Lender shall estimate file amoul~t of Funds duc on the basis of current data and reasonable estimates of eSpenditures of future Escrow l toms or othe]wise in accordance wifl~ Applicable Law. The Funds shall be held in an institutiou whose deposits are iusured by a federal agency, instrumentality, or entity (including Lender, if Lender is a, institutiOl~ whose deposits are st) irksured) or iu any Federal Home Loan Bank. Lender shall apply the Ftmds to lx~y the Escrow Items no later than fl:re time specified under RESPA. Lender shall not charge Borrower fro- holding and applying the Funds, amrually almlyzing fl:re escrow account, or verifying fire Escrow ilten~s, unless Lender pays Borrower interest on Funds and Applicable Law pernfits Lender to make such :t char,g~. Unless an agreement is luade in writing or Applicable Law requires interest to be paid on tl]e Funds, Lender shall not be required to pay Borrower any interest or earnings on fire Funds. Borrower and Lc,der ca, agree in writing, however, fllat interest shall be paid on Ore Funds. Lender shall give to Borrower, wifitm~t charge, an am~ual accounting of Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, ·Lender shall account to Borrower for die excess funds in accordance wifl:t RESPA. If there is a shortage Of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender fl~e amouut necessary to make up the shortage J, accorclat~ce with RESPA, but in no more than 12 monflfly payments. If fl~ere is a deficiency of Funds held i~t esot, w. as defined nnder RESPA, Lender shall notify Borrower as required by RESPA, and Borrower sh~ll pay to Lender the amount necessary to make up fl:re deficieucy in accordauce wifl~ RESPA, but in uo more tt~a, 12 monthly payments. Upon payment in dali of all sums secured by fids Securily I,strunrent, Leuder shall promptly refund to Borrower auy Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, asscssme.ts, charges, tiues, and impositions attributable to fl:re Property which can attain priority over this S~cttt'ity Instrument, leasehold payments tlr grouud rents on die Property, if any, and Commmfity Associatim~ Dues, Fees, and Assessments, if any. To fl~e extent flint flmse items are Escrow Items, Borrower shal I pay them in the maturer provided in Sec tion 3. Borrower shall promptly discharge any lien wlfich has priority over this Security Instrument mfless Borrower: (at agrees in writing to fl~e payment of the obligation secured by fl~e lien in a mariner acceptable to Lender, but tuffy so long as Borrower is pertbrming suclt a~rccnlent; (bt contests file lien in good by, or defends against enforcement of fl~e lien itl, legal p~ocet-c!i,gs whir! in Lender's opi]fiou operate to prevent the enforcement of die lien while fl:rose proceed i~t,~s arc pending, but only until such proceediugs are concluded; or (ct secures from tim holder of rile lien :tit agrcemc.nt sat s~:actory to Lender subordi~mting fl~e lien to fids Security hkqtmment. If Leuder determines fl~at any part of the Property is subject to a lien which eau attain priority over fids Security Instrument, Lc,der may give Borrower a notice identifying fire MFWY7770 (11/00) / 041-796218-0 ~-6A(WY) Iooos}.o~ P~Sof]5 r~ Form 3051 1/01 USD I,4{ .5 8 7 7 lien. Within 10 days of fl~e date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pity a one-time charge for a real estate tax verification and/or reporting service used by Lender in cmmection with this Loan. 5. Property Insurance. Borrower shall keep the improveme.ts now existing or hereafter erected on the Property insured against loss by'fire, hazards included will,in the ter,n "extended coverage," and any off,er hazards including, but not limited to, earthquakes and flo,~cls, fi~r which Lender requires insurance. This insurance shall be nmiutained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences Call change during the term of the Loan. Tire insurance carrier providing fl~e iusm'ance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender lnay require Borrower to pay, in cmmecfion with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one time charge 1br flood zone determination and certification services and subsequent charges each time x-emappi,~gs or sinfilar changes occur which reasonably nfight affect such determination or certification. ]3orroxxer shall also be respousible for the payment of any lees imposed by file Federal Emergency M:~,~agement Agency ill connection with file review of any flood zone deternfiuation resulting fi'om an objectio, by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Leuder~s option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, bt, t nfight or nfight not protect Borrower, Borrower's equity in the Property, or thc c~x),)te~,ts of the Property, agai~tst any risk, hazard or liability and might provide greater or lesser coverage tl~',m was previously in effect. Borrower acknowledges that the cost of fire insurance coverage so obtained might significantly exceed file cost of insurance that Borrower could have obtained. Any amoums disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security hl:aru,ncut. These amounts shall bear interest at file Note rate from fire date of disbnrsement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies :required by Lender and renew:ds of such policies shall be subject to Lender's right to disapprove such policies, shall include a staudard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender sl'~all have the right to hold fl~e policies and renewal certificates. If Lender requires, Borrower shall promptly give ~o Lender all receipts of paid premiums and renewal notices. If Borrower obtains any lbrm of iusm':mce c~verage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy sh:d[ include a standard mortgage clause and shall name Lender as n~°rtgagee and/or as an additional It)ss payee. In fl~e event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may nmke proof of loss if not made pronlptly by Borrower. U,less Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the undcrlyi~tg insurance was required by Lender, shall be applied to restoration or repair of the Property, if thc ~storadou Ol-rqmir is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an ol~portu,fity t() inspect such Property to ensure the work has been completed to Lender's satisfaction, psovided that such inspection shall be undertaken promptly. Lender nmy disburse proceeds for the repairs :md res,~rati,m iu a single payulcnt or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law reqnires interest to be paid on such iusurance proceeds, t~cttcler shall xtt~t be requi,-ed to pay Borrower any interest or eanfings on such proceeds. Fees ti),' public :,l.iusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceed:~ a,~d si,ail tlc tl~e sole obligation of Borrower. If the restoration or repair is not economically feasible or Lc'~)der's security would be lessened, the insurance proceeds shall be applied to fire sums secured by this Seem-ltv t,smmtent, whether or not then due, with MFWY7770 (11/00) ! 041-796218-0 (~-6AlWY) ~ooos~.o~ Page 6 o~ 1~; /~ Form 3051 1/01 the excess, if any; paid to Borrower. Such insurance proceeds slrall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender nmy file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within B0 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Leudcr may negotiate and settle the claim. The 30-day period will begin when the notice is given. Ill either eve,t, or it' Lender acqnires the Property uuder Section 22 or otherwise, Borrower hereby assigns to I~enclt~r (a) Bm-rower's rights to auy insurance proceeds in an amount not to exceed the amounts unpaid triode: thc Note or this Security Instrument, and (b) any other of Borrower's rights (other than file right to a~y ,-efimd of unearned premimm~ paid by Borrower) under all insurance policies covering tim Property, J~sot-ar as such rights are applicable to the coverage of the Property. Lender nmy use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security hlstrumcnt, whether or not then due. 6. Occupaucy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days alter the execution of this Securily l,lstrument aud shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees iu writing, which consent shall not be umeas(mably wiflfl]eld, or Ulfless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection or the 'P,-olmrty; lnspectio,ts. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or conmfit waste on tim Property. Whether ornot Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property fi'om deteriorating or decreasing in value due to its condition. U~fless it is determined pursuant to Section 5 that repair or restoration is not ecammfically' l~asible, Borrower shall promptly repair the Property if damaged to avoid further deterim'ation or damage. If insurance or condenumtion proceeds are paid in connection with damage to. or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only il' Lender has released proceeds lbr snch purposes. Lender may disburse proceeds for the repairs a~td restoration in a single payment or in a series of progress payments as fl~e work is comPleted. If the iusurauce m' condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of I~m-rmvcr's obligatiou for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon ami inspections of tim Property. If it has reasmmble cause, Lender nmy inspect fl~e interior of fl~e improvcmelus on tbe Property. Lender shall give Borrower notice at the time of or prior to such an interior i,~:q~ecl,m specilying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be ill clcfimlt if, duriug the Loan application process, Borrower or any persons or entities acting at ire directi(m of Borrower or wifl~ Borrower's knowledge or consent gave materially false, misleading, or inaccurate inlbrmafion or statements to Lender (or failed to provide Lender with nmterial informatim0 in connection with the Loan. Material representations include, but are not linfited to, rtzprese.tatimls ctmceming Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property nmi I,,igbts Umler this Secm'ity Instrument. If (a) Borrower fails to perl:brm the covmmnts and agreemc~ts cm~tained in this Security lnstnunent, (b) there is a legal proceeding that might significantly affect Lel~0er'>: imcrest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy. 1,'oba~e, tbr condemmttion or lbrfeiture, for enforcement of a lien which nmy attain priority over fltis ~;cct, rity Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Proper~y, the:~ Le~'~dcr may do and pay for whatever is reasmmble or appropriate to protect Lender's interest in thc Property aud rights under this Security Instrument, including protecting and/or assessing the val,,: t,f tlte Property, and secoring and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security h~stlmnent; (b) appe:tring in court; and (c) paying reasmmble MFWY7770 (11/00) / 041-796218-0 (~}e-6AlWV) Iooo5~.o~ Page 7 ot I!:, Form 3051 1/01 attorneys' tees to protect its interest iu tire Property and/.~' righis under this Security Instrument, including its secured position iii a bal~kruptcy proceeding. Secnri.g the Property ii,eludes, but is not linfited to, entering file Property to nmke repairs, change locks, replace ur board up doors aud wiudows, drain water fi'om pipes, elinfi~mte building or oflmr code violations m-tlangerous c(mclitions, and have utilities turned on or off. Alfl~ough Lender ~y take action under tiffs Section 9. Le.der does not have to do so and is uot under any duty or obligatiou to do so. It is agreed flint Lc.der i.cm's .o liability tbr not takiug any or all actions auflmrized nnder tiffs Section 9. Any alnounts disbursed by Lender uuder this SectM~ 9 shall bccmuc additional debt of Borrower secured by tiffs Security Inst~ment. These alnounts shah bear interest at the Note rate from fl~e date of disburselnent and shall be payable, with such interest, .ptm .mice from Lender to Borrower requesting payment. .. If tiffs Security Inst~ment is on a leasehold, Bonower s all comply wifl~ all tim provisions of lease. If Borrower acquires I~e title to tim Property, fl~e lcaseholcl and thc I~e title shall uot merge mfless Lender agrees to fl~e merger in writing. 10. Mortgage hlsurance. If Lender required Mortgage Insurance as a coudition of making fl~e Loan, Borrower shall pay fl~e premiums required to maintain mc Mortgage I.st.'ance in effect. If, lbr auy reason, the Mortgage Insurance coverage required by Lender ceases lo he av::ilable fi-om fl~e mortgage itmurer fl~at previonsly provided such iusurance and Borrower was required to make separately designated paying:uts toward fl~e preminms tbr Mortgage Insurance, Borrower sh~til pay t,e premiums required to obtain coverage substantially equivalent to the Mortgage lns.r'..tce pr~'vitmsly in eflkct, at a cost substautially equivalent to the cost to Borrower of tim Mortgage ]:~sur..cc prcvi(msly in effect, fmln an alternate mortgage insurer selected by Lender. If substantially ~xluiv:flcnt Ivh,rtgage insurance coverage is not available, Borrower shall continue to pay to Lender thc :..ount ~t' thc separately desig~mted payments fl~at were due when. fl~e insurance coverage ceased to be i. ci]~c:t. Lcntlm' will accept, use and retain fl~ese payments as a non-re~ndable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwi~standing fl~e fact fl~at the Loan is ultimately paid in ~11, and Lender shall not be required to pay Borrower any interest or eanfings m~ suc'l~ loss reserve, gender cau no louger require loss reserve payments if Mortgage Insurance coverage (Ju thc z.u(mnt and flu' the period fl~at Leuder requires) provided by au insnrer selected by Lender again hecta.cs available, is obtained, and Leuder requires separately designated payments toward fl~e preufituns lin' Mm'tgage ].stmmce. If Lender required Mortgage Insurance as a condition of nmking fl~e Loau aud Bmr(re, er was required to make separately desig~mted payments toward fl~e premiums for Mortgage Insurance. Bm:rower shall pay the premiums required to nmintain Mortgage Iusurance in efl~ct, or to provide ',~ m~H'el:ur~dable loss reserve, until Lender's requirement tbr Mortgage Insurance ends in accordance ,vi~i; :t,3 writ:cu :tgreelneut between Borrower and Lender providing for such ternfim~tion or until termin:ttio~t is rc(;uircct Dy. Applicable Laxv. Noflffng in tiffs Section 10 afl, ets Borrower's obligation to pay interest ;u ~.c rate in'ovidcd iu file Note. Mortgage Insurance, reimburses Leuder (or any e.tiry th:tt purchases file Note) for certain losses it umy incur if Borrower does not repay fl~e Loau as agreed. 13ormwer is uot a party to fl~e Mortgage Insurance. Mortgage i~ksurers evaluate fl~eir total risk on all such i~sur:mcc in fi)rte fi'om time to time, and euter into agreements wifl~ off,er parties flint share or n,)dif', thcir ris~<, or reduce losses. These agreements are on terms and conditions fl~at are satisthctory to the .,mgagc insurer m~d Oxe other party (or parties) to fl~ese agreements. These agreemeuts umy require the lnt)~tg'tgc i llStllCf tO make payments nsiug lilly source of ~nds ~at fl~e mortgage iusurer umy have awtilablc (w'.~icn m:ty i.ch~cle funds obtained l)om Mortgage Insurance premiums). As a result of fl~ese agreements, Lender, any pm-ch:~:~cr t,l' thc N(~tc, another iusurer, auy rei~murer, any off, er entity, or any affiliate of any of fl~e fi~cgoi.g, .,tv ~cceix'c (d~rectly or iudirectly) amounts derive from (or might be characterized as) a portion of [;t ~rmvt. r s pa3qitcnts fi)r Mortgage Insurance, in exchange for sharing or modilying fl~e mortgage insurer's t'ist:, m- ~ctlucing losses. If such agreemeut provides ~at an affiliate of Lender takes a share ~f thc i~lsurcr's risk in exchauge fi~r a sbare of ~e prenfimns paid to fl~e insurer, fl~e arrangement is often termed "c:tptivc reinsurance." Furflmr: (a) Any such agreements will not affect the ;tttltltllliy; that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loa.. ~]ttt'h agrectne~s will not increase the amount Borrower will owe for Mortgage Iusurance, and riley u'i.i[ not eniide [h)rrowerto any refuud. MFWY7770 (11/00) / 041-796218-0 (~)~-6A(WY) Iooosl.ol Page e of ts A I Form 3051 1/01 $80 (b) Any such agreemeots will not affect the rigiti:'.; Bott(re, er has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1598 or any other law. Thee rights ~nay include the right to receive certaiu disclosures, t.o request and ohtain cancellation of the Mortgage Insurance, to have the Mortgage Insnrancc: /t~rminated automatically, and/or to receive a refund of any Mortgage Insnrance premiums that were une:,'.ett at the time of snch cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Fori'eiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If fl~e Property is danmged, such Miscellaneous Proceeds shall ~e applied to restoration or repair of fl~e Property, if fl~e restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the :'ight to hold sudl Miscellaneous Proceeds until Lender has had an opportmfity to inspect such Pr(q)erty ~) e~stu'e the work has been completed to Lender's satisfaction, provided fl~at such inspection shall be u.dertakcn promptly. Lender may pay tbr repairs and restoration iu a single disbursement or in a series o1' pr~gress payments as fl~e work is completed. UMess an agreement is nmde iu writi~g or ~pl>licablc Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required tc~ pay ]3~m'ower any interest or earnings on such Miscellaneous Proceeds. If fl~e restoration or repair is not c<onon~ically l~asible or Lender's security would be lessened, fl~e Miscellaneous Proceeds shall be applied l(~ the :;t,ns secured by this Security Instrument, whefl~er or not then due, wifl~ fl~e excess, if any, paid tt~ 8orrt)wcr. t.;tlC]l Miscellaneous ProCeeds shall be applied in ~e order provided Ibr in Section 2. In fl~e event of a total taking, destruction, or l()ss i. v;tlue of fl~e Property, fl~e Miscellaneous Proceeds shall be applied to the suuks secured by fids Security I.stru,~c~tt, whefl~cr or not fl~eu due, wifl~ the excess, if any, paid to Borrower. In fl~e event of a partial taking, destruction, or loss i~ value of d)e Property iu which the fair nu~rket value of fl~e Property innnediately before fl~e partial tal.:il.A, dc:;tructio,, or loss iu wdue is equal to or greater fl~an fl}e a~nount of fl~e sums secured by this Sc:urity h,strt)n~c~t inuuediately beBre fl~e partial taking, destruction, or Joss iu value, unless Borrower :,~cl Lc.der t)thcrwise agree iu writing, fl~e sums secured by fids Security Instrument shall be reduced by thc am(;unt of the Miscellaneous Proceeds multiplied by fl~e following fraction: (a) flie total an~()..t t)f tl~c st.us secured iunuediately belbre fl~e partial taking, destruction, or loss iu value divided by (I)) thc Ihir market value of fl~e Property inm~ediately before fl~e partial taking, destruction, or Io:;:; i,~ value'. ,A~y b:'.lance shall be paid to Borrower. In fl~e event of a partial taking, destruction, t)r los>: i~ v;tluc of tt~e ~'tOpel-ty iu which the fair nmrkct value of ~e Property imlnediately belbre fl~e partial taki.g, de:.:tructiou, or loss in valne is less than fl~e amount of fl}e sums secured ium~ediately belkn'e the p:.'(i:tl tal:i,g, destruction, or loss iu value, unless Borrower and Lender ofl~erwise agree iu writing, fl~e klisrcll:uteous I't:oceeds shall be applied to fl~e sums secured by tiffs Security Instrument whefl~er or not fl~e st..s are tltcn {Itte. If the Property is abandoued by Borrower, or it', after .oticc by Lender to Borrower fl~at the Opposing Party (as &lined in fl~e next sentence) otters ~) .~,dcc a. :;ward to settle a claim lbr dauutges, Borrower lhils to resPond to Lender within 30 days afte~ tl~e date thc .t)tice is given, Lender is aufl~orized to collect and apply the Miscellaneous Proceeds either' (,~ re~:tt)rati(), or repair of fl}e Property or to fl~e sums secured by tiffs Security hkstnnneut, whether t)r n(. ~)tc. due. "Oppt>sing Party" means fl~e fldrd party fl~at owes Borrower Miscellaneous Proceeds or the party :,gai~tst wht>m Borrower has a right of action iu regard to Miscellaneous Proceeds. Borrower shall be in default if any action or pr()ccc:~ing wlteth..:r civil or crinmml, is begun fl~at, in Lender's judgment, could result in /brlkiture of the I'~'()[)crty ()r (~tl)cr ~.aterJ'.d impairment of Lender's interest in fl~e h'operty or rights uuder fids Security l.st:'t.nc~t. 'Bo,'rt)wcr can cure such a dethult and, if acceleration has occurred, reinstate as provided in Sccti(,,~ 19, by c;~a~si~g the action or proceeding to be disnfissed with a ruling ~at, iu Lender's judgme,t, prcd;~dcs l.d'eitt.-e ()f fl~e Property or off, er ~mterial impairment of Lender's interest in fl~e Property or fights trader this 5;ect, rity Iustrumel~t. The proceeds of any award or claim lbr daumges fl~at are attributable ti) th~ i.~)):~ir.~ct~t ol Lender's interest iu fl~e Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds fl~at are not applied r,) <::~)~:tti{)t~ or rdpair of fl~e Property shall be applied iu fl~e order provided ~br in Section 2. MFWY7770 (11/00) / 041-796218-0 ~-G~IWY) 1ooo$}.o~ Page 9 of ~5 /~[ Form 3051 1/01 881 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of d~e time for payment or modification of amortization of fl~e su ms sccu red by rids Security Instruumnt granted by Lender to Borrower or auy Successm' in Interest of Borrower sh;:ll n~t operate t~} release the liability of Borrower or any Successors in Interest of Borrower. Lender shall ~ot bc required to conunence proceedings against any Successor in Interest of Borrower or to red, se to extend thnc fi~r payment or otherwise nmdily amorti~tion of fl~e sums secured by fids Security Instrum~t by reasm~ of any demand made by the original Borrower or any Successors in Interest of Borrower. Any tin'bern'anco by Lender in exercisiug any right or remedy including, wifl~out linfitation, Lender's acceptattce of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the :m;t)unt then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors aud Assigns Bound. Borrower covemmts and agrees ~at Borrower's obligatious and liability shall bc joi~t a~id several. However, any Borrower who co-signs this Security Instrument but does not execute thc No~c (a "co-sigoer"): (a) is co-sig~fing Security hkstmment tuffy to mortgage, grant and convey the co-:~igner's interest in fl~e Property under terms of fids Security Instrument; (b) is not personally {~bligatcd to pay the sums secured by fids Security Instmnmnt; and (c) agrees tbat Lender and any other Bm'rower can agree m exmnd, modit~,, forbear or ~mke any acconunodations wifl~ regard to fl~e terms of this S~curitv Instrument or fl~c Note wifl~out fl~e co-signer's consent. Subject to the proviskms of Section 18, any Su.zcessor in interest of Borrower who assumes Borrower's obligations under fids Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's fights and benefits under fids Seem ltv lnstrum~ut. Borrower shall not be released from Borrower's obligations and liability under fids Secm-ity I~:<trumcnt unless Lender agrees to such release in writing. The covenants and agreements of fids Security lns(rt, mcht shall brad .(except as provided in Secdon 20) and benefit fl~e successors and assigns of 14. Loan Charge. Lender may charge Borrower tees tm services pertbrmed in com~ectiou wifl~ Borrower's default, lbr ~e propose of protecting Lender's interest iu the Property and rights under fids Security Instrument, including, but not limited to, attorneys' lkcs, property inspection and valuation fees. In regard to any ofl~er/kes; fl~e absence of express autho~ i~y in rids Security Instrument to charge a specific Ike to Borrower shall not be construed as a prohibition m~ thc ch:trging o1: such fee. Leuder may not charge fees flint are expressly prohibited by fids Security lnstrum;:~t ol t~)' Apl)iicabl¢ Law. If file Loan is subject to a law which sets maximum ~{~:ut cl~:;rgc:;, ;md that law is finally iutmpreted so flint ~e interest or other loan charges collected or to be c{dicctcd iu c¢mnection wifl~ tl'~e Loan exceed the permitted linfits, fl~en: (a) any such loan charge shall be rcdttced by the mnount necessary to reduce fl~e charge to fl'~e permitted limit; a~d (b) any sums already c~,tlected l:ro.~ Borrower which exceeded pernfitted linfits will be re~nded to Borrower. Lender may thor}sc tt) ~akc this t:efund by reducing the principal owed under fl~e Note or by makiug a direct payment to Bm'l.)wcr. 11: a retired reduces principal, fl~e reduction will be treated as a partial prepaymcut with:mt zt~3, Prcixtymeut charge (whether or not a prepayment charge is provided for under fl~e Note). Bo: ~ower's acccptaucc of any such retired made by direct payment to Borrower will constitute a waiver o1' a~:v eight t)l: :tcl;iO~ Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lc;tder in cmmcction with this Security Instmmeut must be in writing. Any notice to BmTower in cmmecti¢),~ with tills St:curity hkstnunent shall be deemed to have been given to Borrower when mailed by lirst clasx mail t~r x',,~c~t actually delivered to Borrower's notice address if sent by other means. Notice to any o~c ~orrowcr st~all constitute notice to all Borrowers u~ess Applicable Law expressly requires ofl~erwise. ~l'ltc notit:c address shall be fl~e Property Address uffiess Borrower has designated a substitute notice addrc::$ by m~ticc to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lendc;' specifies a procedure /hr reporting Borrower's change of address, fl~en Borrower shall otfly report a ch:{,ige of aclclr~ss thronglt flint specified procedure. There ~y be offiy one desig~mted notice address tmclc;' fids S,:curity Instrument at any due time. Any notice to Lender shall be given by delivering it or by ~: :dii~tg [t b~ first class mail to Lender's address stated herein unless Lender has desig~mted anofl~cr a ;drcs:; hy .otic¢ to Borrower. Auy notice iu cmmection wifll fids Security Instrument shall not be dec:ned ti) iutvc been giveu to Lender until actually received by Lender. If any notice required by this Scorn ity In:;trumcnt iS also required uuder Applicable Law, fl~e Applicable Law requirement will satist~ thc corresponding requirement under fids Security I~tmment. MFWY7770 (11/00) / 041-796218-0 (~;I~-6A(WY) {ooo5l.o 1 Page 10 oIl:; Form 3051 1/01 16. Governing Law; Severability; Rules of C~:~strucdoo. 'lids Security h~strmnent shall be governed by t~deral law and fl~e law of the jnrisdicti(m in which thc }'ropcrty is located. All rights and obligations contained in tiffs Security Instrument are ::ubject ti) ai~y requirements and limitatio~ks of Applicable Law. Applicable Law might explicitly or iml)licitly :tllow thc parties to agree by contract or it 'might be silent, but such sileuce shall not be construed :ma pr()hibition agaiust agreement by contract. In fl~e event flint any provision or clause of tiffs Security l~strumc~t or the Note conflicts wiflx Applicable Law, such conflict shall riot affect mher provisions of' ii,is Security ],strumeut or tim Note which can be given elfkct wifl~out tim conflicting provision. As used in tiffs Security Iustmnmnt: (a) words (it' the m:~sculinc gender shall meau and include corresponding neuter words or words of fl~e l'knfinine gender; (1)) words in the singular shall mean and include fl~e plural and vice versa; and (c) file word "may" gives sole discretiou widmut any obligatiou to take any action. 17. Borrower's Copy. Borrower shall be giveu one copy ()f the Nt)te and of this Security Instrument. 18. Transfer of the Property or a Beneficial imm-est iu Burrower. As used in this Sectiou 18, "Interest in fl~e Property" means any legal or benefici:tl i~(terest i~ thc Property, including, but uot limited to, fl~ose beneficial interests transferred in a bond tbr deed, commct fi)r deed, installmela sales contract or escrow agreement, fl}e intent of which is fl~e transtkr of title by B()rrower at a fi~ture date to a purchaser. If all or any part of fl~e Property or any Interest i, the Pr()pcrty is suld or transl~rred (or if Borrower is not a Xntural person and a beneficial interest ht Borrov, cr is s()ld or U>tnslkn'ed) without Lender's prior written consent, Lender nmy require immediate p:t3, n~c~)t in lull ol: all sums secured by tiffs Security I~tmxnent. However, tiffs option shall not be exm'cis_,d by I.~cHd~r if such exercise is prohibited by Applicable Law. If Lender exercises tiffs option, Lender shall give )mrrowcr notice of acceleratiou. The notice shall provide a period of not less ~an 30 days from die date ti~e n()ticc is eiven iu accordance wifl~ Section 15 wiflfin which Borrower must pay all sums secured by this Security /q}strument. If Borrower fifils to pay fliese sums prior to fl~e expiration of this period, Lender may inv()l,c auy remedies permitted by Security Instrument without ~rfl~er notice or demand (m Bt)rrow[:r. 19. Borrower's Right (o Reinstate Al'ret Accrue'ration. If Borrower meets certain conditious, Borrower shall have the right to have enforcement of this Scc~,rity h~strumeut discontinued at auy time prior to fl~e earliest of: (a) five days befbre sale of fl~c Pr()pcrty pm'Ntt:tnt to any power of sale contained in tiffs Security Instrument; (bi such other period as Applicable [.:tw might specily lk}r flie ternfi~u~tion of Borrower's ~5ght to reinstate; or (c) entry of a judg~cnt eHfi)rci.g this Security h}strument. Those conditions are flint Borrower: (a) pays Leuder all st, ns whir) then wm0d be due trader tiffs Security Instrument and fl}e Note as if no acceleration had occurrt'd; (bi c,:rc:; :~Hy detktult of any other covenants or agreements; (c) pays all expeuses incurred in enfiu'cing this Security lt~strument, including, but not limited to, reasomble attorneys' fees, property inspccti(m mid v:dm~tim~ t~es, and other fees incurred for the pu~ose of protecting Lender's interest in tim Property ;~,d rights under this Security Instrument; and (d) takes such action as Lender nny reasom~bly require to :lssure that ~cnder's interest iu tim Property and rights under tiffs Security Instnunent, and Borrower's oh,igati(m to p:tv the sums secured by tiffs Security Instrument, shall conti~me unchanged. Lender may requi, ~' thai [;t)rrox(,cr pay such reinstatement sums and expenses in one or more of fl~e Ibllowing lbrms, as sc!:.cted by Leander: La) cash; (bi mtmey order; (c) certified check, ba~ check, treasurer's check or cashier':.; check, pr(3vidcd a~y such Check is drawu upon an institution whose deposits are insured by a t¢clcral am'ney, i:~4trtm~cntality or entity; or (d) ElectroMc Funds Trmkq~r. Upon reinstatement by Borrower, this ~t:t:urily I~ls/rument and obligations secured hereby shall remain Mlly effective as if tm acceleration had occt~rrcd. Ih)wcver, this right to reinstate shall not apply in fl~e case of acceleratiou under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice uf Ct [evrmce. The Note or a partial interest in fl~e Note (togefl~er wi~ tiffs Security Instrument) can I~c st}Id (~,~c m' mt)re times wiflmut prior notice to Borrower. A sale nfight result in a change in the maitv (knuwn as the "Loan Servicer") fl~at collects Periodic Payments due under the Note and Otis Secmh~: Instrument 3md per[orms other mortgage loan servicing obligations under ~e Note, tiffs Security Instrument, :;~d Applicable Law. There also nfight be one or more changes of fl~e Loan Servicer um'eh~ted to :~ :::de or the N~}tc. I[ fl~ere is a change of tim Loan Servicer, Borrower will be given written notice uf thc clt:t:~ge xvi~ich wit[ xtate the ~mme and address of fl~e new Loan Servicer, fl~e address to which pay,~c~ts ~:hcukt b,: ~t:lclc :md :IHV other infi)rmation ~SPA MFWY7770 (11/00) / 041-796218-0 I:~-6AIwY) iooos}.o, Page 11 of 5 Form 3051 1/01 requires in comrection wifl:t a notice of transfer of servicim~. ] f thc Note is sold and fl~ereafter fl~e Loan is serviced by a Loan Servicer oflmr flmu fl~e purchaser of linc Note, the mortgage loan servicing obligations to Borrower will rmmin wifl~ fl~e Loan Servicer or be trat~s/)rrcd to a successor Loan Servicer and are not assumed by tim Note purchaser mfless ofl~erwise provided by the Note purchaser. Neiflmr Borrower nor Lender may commence, joi~. m' bc joined to any judicial action (as eider an individual litigant or tim member of a class) that arises from the other party's actions pursuant to tiffs Security Instrument or that alleges flint fl~e other party has breached any prt~visinn of, or any duty owed by reason of, tiffs Security Instrument, until such Bm'rower or Lender ha:~ ,otified fl~e off,er party (wifl~ such notice given in compliance with fl~e requirements of Section ]5) of s,ch alleged breach and af/brded fl~e off, er party hereto a reasonable period after the givi~g of such ~,~ticc to take cnrrcctive action. If Applicable Law provides a time period which must elap:~e belbrc certain action can be taken, flint time period will be deemed to be reasonable lbr ptnposes t,i: dfis paragraph. Thc uotice of acceleration and opporm~fity to cure given to Borrower pursuant to Sccfitm 22 and thc notice of acceleration given to Borrower pursuant to Sectiou 18 shall be deemed to sadsi'v thc ,oticc and opporm~fity to take corrective action provisions of tiffs Section 20. 21. H~ardous Substauces. As used in tiffs Scc'~iou 21: (a) "llazardous Substances" are those substmmes defined as toxic or hazardous substa~ces, point,lams: (~r xx, it~:tcs by Environmeutal Law and fl'~e following substances: gasoline, kerosene, off, er flamma[~}c or toxic pctrolcun~ products, toxic pesticides aud herbicides, volatile solvents, materials contai~fing asl)c~<tos m- fl~rn,'J Idcl~ydc, and radioactive nmterials; (b) "Enviromnental Law" means tkderal laws and laws (~f linc jt~ri:;cliction where fl~e Property is located flint relate to healflt, safety or enviromnental protection; (c) "Envirmm~ctmtl Cleanup" includes auy response action, remedial action, or remowd action, as dcfined iu IEnvimmuemal Law; and (d) an "Enviromuental Condition" means a condition flint can cause, contrihtstc tt,, or ~thcrwise trigger an Environmental Clemmp. Borrower shall not cause or permit fl~e presence, u:<~, db:pc?:al, storage, or release of any Hazardous Substances, or fl~reaten to release any Hazardous Subst:mzcs, m~ {~ in dm Property. Borrower shall not do, nor allow anyone else to do, auyflfing affecting the Pr,,l~:'~ty (:0 d~at is in violatiou of any Enviromnental Law, (b) which creates an Enviromnental Condition, or (c: wl~ich, duc it) the presence, use, or release of a Hamrdous Substance, creates a condition that adversely :(fl~cts thc x, aluc of the Property. The preceding two sentences shall not apply to the presence, use, m- am-age m~ tt,e Property of small quantities of Hazardous Substances that are generally recognized to b.: ap},ropri:~r' Io mn'mai rcsidemial uses aud to nmintenance of fl~e Property 0ncluding, but not l infitcd it,. hazardous sub:<~anccs in consumer products). Borrower shall promptly give Lender writtcu notice ,~i' (:0 :my i.vcstigation, claim, demand, lawsuit or off, er action by any govermnental or regulatory agency m' private party involving the Property and auy Hazardous Substance or Environmental Law of whi,:n [;(,'~owcr has actual knowledge, (b) any Enviromnental Condition, including but not limited to, a.~,,' qvilli,~g, Ic:~ki~g, discharge, release or threat of release of any Hazardous Substance, and (c) any concli~;(}n c:mscd by tl~c presence, usc or release of a Hazardous Substance wlfich adversely aft~cts the value o~' ~hc P~,pe~t/. I~: Bm'rower learns, or is notified by any govermnental or regulatory aufl~ority, nr any p~ix,ttc p:u-ty, fl~at any removal or other rcmediadon of any Hazardous Substance affecting ~e Property is neeco:nary, lire'rower shall promptly take all necessary remedial actions in accordance wifl~ Enviroume.tal La~,. Nod~J~g hc~cin shall create m!y obligation on Lender for an Enviromnental Cleanup. MFWY7770 (11/00) / 041-796218-0 (~-6A(WY) Iooo~.o~ Page~2o! iS 0 I Form 3051 1/01 884 NON-UNIFORM COVENANTS. Borrower and Lop. der further covenant and agree as Ibllows: 22. Acceleration; Remedies. Lender shall give nm:icc 1o Bm'rower prior to acceleration following Borrower's breach of any covenaut or agreement iu this Security lustrument (but not prior to acceleration under Section 18 unless Applicable Law provi0es odmvwise). The notice shall specify: (a) the default; (b) the action required to cure the default; I.c) ~, d:tie, m~t less than 30 days fi'om the date the notice is given to Borrower, by which the default must be cu,-t.(I; and (d) that failure to cure the default ou or before the date specified in the notice m;v,' resuh in :~ccelei-ation of the sums secured by this Security Instrument and sale of the Property. Tl~e m~tice sh;tii l'urflmr inl'Orln Borrower of tile right to reiustate after acceleration and the right to bri~g a court action to assert the nou-existence of a default or any other defense of Borrower to acceler;u[on and saie. Il' die default is uot cured on or before the date specified in the notice, Lender at its Ol,[On may require iulmediate payment iu full of all sums secured by tiffs Security hlstrumeut without t'm'd~er demaml anll nlay invoke the power of sale and any other remedies permitted by Applicable Law. Lemier shall be entitled to collect all expenses incurred in pursning the remedies provided iu riffs Sectitm 22. including, but not limited to, reasouable attorneys' fees and costs of title evidence. If Lender invokes tile power of sale, Lender shaii give m~dce of intent to fllreclose to Borrower and to tile person in possessiou of the Property, if ~[iffcvent, in :~ccordance with Applicable Law. Lender shall give notice of the sale to Borrower iu ihe ln:mm.r in't~vidcd in Sectiou 15. Lender shall publish the notice of sale, and the Property shall be stihl in the re:tuner in-escribed by Api)iicable Law. Lender or its designee may lmrchase the l'roperiy at any s:de. The proceeds of the sale shall be applied iu the following order: (a) to all expenses of d~e s:dc, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured Ily this Seem-ltv Instrument; and (c) auy excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by ti,is Security i,::mmlcnt, Lender shall release Offs Security Instrument. Borrower shall pay any ,'ecordati.i~ c~sts. Lender may cll~,rge Borrower a tee lbr releasiug tiffs Security Instrument, but tuffy if the lee is [,:~icl to a third party for services rendered and the charging of the tee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all ~-[ght.~ ~nde: :iud by virtue of fl~e holnestead exmnption laws of Wyonfing. MFWY7770 (II/00) / 041-796218-0 (~.-6AlwY) ~ooos~,o~ Page 13o[ 1', h /) Form 3051 1/01 885 BY SIGNING BELOW, Borrower accepts and agrees to the tem]s and covenants contained in this Security hzstmment and in an), Rider executed by Borrowcr and recorded with it. Witnesses: STEVEN THOHAS ANNALA (Seal) -Borrower PAULA A. ANNAL~ -Borroxver (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower lvlFWY7770(ll/00) I 041-796218-0 (~<~SAIWY) Iooo~1.o! P~ge ~4 o~ ~s Form 3051 1/01 STATE OF WYOMING, Lincoln The tbregoing instrument was acknowledged before me this September by STEVEN THOMAs ANNALA AND PAULA A. ANNALA County ss: 2003 My CormnissionExpires: February 2, 2006 ,~B. tEf S~r~LL - NOTA,qY P98U6 Notary I'.hlic MFWY7770 (11/00) / 041-796215-0 (~t~-6A(WY) (ooo5),o, Page 15 of I 5 Form 3051 1/01