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HomeMy WebLinkAbout893589Return To: 'PACIFIc REPUBLIC MORTGAGE CORPORATION 2150 TOW'NE CENTRE PLACE' 8 9 :}~ ,57 ~ 9 SUITE 300 ~ANAHEIM, CA. 92806 ' Prepared By: PACIFIC REPUBLIC MORTGAGE CORPORATION 7310 NORTH 16TH STREET SUITE 300 PHOENIX, AZ 85020-5256 Loan No. 35492490 /PC [Space Above This Line For Recording Data] MORTGAGE MIN '~OOK ~35pRPAGE 383 1001201-0035492490-5 DEFINITIONS Words used in multiple sections of this docnmeut 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) "Security Instrument" means this document, which is dated September 12th, together with all Riders to this document. (B) "Borrower" is BLAKE ANGELL AND CINDY ANGELL, HUSBAiqD AND WIFE 2003 Borrower is the mortgagor under this Security Instroment. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporatiou Ihat is acting solely as a nmninee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized 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 INSTRUMENT WITH MERS (~%-6A(WY) (ooos).o, Page 1 of 15 Initials: ~ ~ ~" 106a01~.010h' Form 3051 1/01 384 (D) "Lender" is PACIFIC REPUBLIC MORTGAGE CORPORATION Lender is a CALIFORNIA CORPORATION organized and existing under tile laws of THE STATE OF CALIFORNIA Lender's address is 2150 TOWNE CENTRE PLACE, SUITE 300 ANAHEIM, CA 92806 (El "Note" means tile promissory note signed by Borrower and dated September 12, 2003 The Note states that Borrower owes Lender ONE HUNDRED TI{OUSAND and NO/100 Dollars (U.S. $ :tOO, 000.00 ) plus iuterest. Borrower has promised to pay this debt in regular Periodic Payn]ents and to pay tile debt in fldl not later than October 1, 2018 (Fl "Property" means the property that is described below nuder tile heading "Transfer of Rights in the Property." (Gl "Loan" means tile debt evidenced by tbe Note, pins interest, any prepayment charges and late charges due nnder tile Note, and all stuns due under this Secm'ity Instrument, plus interest. (ti) "Riders" means all Riders to this Secnrity Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ~ Adjustable Rate Rider [--] Condominium Rider ~-] Second Home Rider [---] Balloon Rider ~ Planned Unit Development Rider [---] 1-4 Family Rider ~] VA Rider ~ Biweekly Payment Rider ~-] Other(s) [specify] (~,¥A(VVY) 106aOZwy. OlOlr (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable jndicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges tlmt are imposed on Borrower or tlie Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of fluids, other tban a transaction originated by check, draft, or similar paper instrument, which is initiated throngh au electronic terminal, telephonic instrnment,, computer, Or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an acconnt. Such term includes, hut is not limited to, point-of-sale transfers, automated teller machine h'ansactions, transfers initiated by telephoue, wire transfers, and automated cleariughouse transfers. (L) "Escrow Items" means those items that are descrihed in Sectiou 3. (M) "Miscellaneous Proceeds" meaus any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Sectiou 5) for: (il danmge to, or destructiou of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, tile Value and/or condition of tile Property. (N) "Mortgage Insurance" means insurance protecting Lender against tile nonpayment of, or default on, tile Loan. (O) "Periodic Payment" means the regularly schednled amount due for (il principal and interest under the Note, plus (ii) any amounts nnder Section 3 of this Secnrity Instrument. (P) "RESPA" means tile Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regnlation X (24 C.F.R. Part 3500), as they might be amended from tiule to time, or ally additional or successor legislation or regulalion that governs the same snbject matter. As used in Ibis Secm'ily Instrument, "RESPA" refers to all reqnirements and restrictions Ibat are imposed in regard to a "federally related mortgage loau" even if tile Loan does not qualify as a "federally related mortgage loan" under RESPA. ~..-~-~P~ 35492490 /PC Initials: Page 20] 15 Form 3051 1101 385 (Q) "Successor in Interest of Borrower" ineans any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrmnent. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (0 the repayment of tile Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and lo the successors and assigns of MERS, with power of sale, the following described property located in the COUNTY of LINCOLN : [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF. Parcel ID Number: i 2~3218-I 84-00-158.00 409 TWIN CLIFFS ROAD AFTON ("Property Address"): which currently has lhe address of IStreet] [Cityl , Wyoming 8311 o- [Zip Codel TOGETHER WITH all tile improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Iostrument. All of the foregoing is referred to in this Secnrity Instrument as Ihe "Property." Borrower understaods and agrees that MERS holds only legal title to tim interests granted by Borrower in this Secority Instrument, but, if necessary to cmnply will law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender inclnding, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfidly seised of Ihe estate hereby conveyed and has the right to mortgage; grant and convey the Property and that the Property is uneocumbered, except for encnmbrances of record. Borrower warrants and will defend generally the title to tim Property against all claims and demands, snbject to auy encnmbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-nniform covenants with limited variatious by jurisdiction to constitute a uniform security instrument covering real property. initials: ~. ~ 35492490 /PC (~A'~-eA(WY) te*o51.m p~, 3 o~ ~5 ~ Form 3051 106a03wy.0101r 1 IOl 386 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by tbe Note and any prepayment charges and late charges dne nnder the Note. Borrower shall also pay flmds for Escrow Items pursuant to Section 3. Paymeots due nnder the Note and this Secm'ity Instroment shall be made in U.S. currency. However, if any Check or other instrument received by .Lender as payment tinder the Note or this Security Instrument is returned to Lender unpaid, Lender may reqnire that any or all subseqnent payments dne under the Note and this Security Instrmnent be made in one or more of tbe following forms, as selected by Lender: (a) cash; (b) money order: (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is draw]] upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electrouic Fnnds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such otber location as may 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 insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, witboot waiver of any rights hereunder or prejndice to its rights to refi~se sucb payment or partial payments in the future, bot 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 fl~nds. Lender may hold such unapplied funds until Borrower makes pay~nent to bring the Loan current. If Bm'rower does not do so within a reasonable period of time, Lender shall either apply such funds or return tbem to Borrower. If not applied earlier, such flmds will be applied to the outstanding principal balance tinder the Note iinmediately prior to f(~reclosnre. No offset or claim which Borrower might have now or in the furore against Lender shall relieve Borrower frown making payments due under the Note and this Security Instrument or performing the covenants and agreements secm'ed by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: {a) interest dne under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in tbe order in which it became due. Any remaining amounts shall be applied first to late charges, secoud to any other amounts due under this Security Instrnment, and then to reduce the principal balance of the Note. If Lender receives a paylnent from Borrower for a delinquent Periodic Payment which inch]des a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If mm'e than one Periodic Payment is outstanding, Lender may apply any payment received frmn Borrower to the repayment of the Periodic Payments if, and to the extent that. each paymeut can be paid in full. To the extent that any excess exists after the payment is applied to the fldl payment of one or more Periodic Paylnents, snch excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepaymeot charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under tbe Note shall not extend or postpone the dne date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until tim Note is paid in full, a sum (tile "Funds") to provide for payment of anmunts due roi': (a) taxes and assessments and other ite~ns which can attain priority over this Security Instrument as a lien or encumbrance ou the Property: (b) leasehold payments or ground rents on the Property, if any; (c) preminms for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premimns in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time dnring the term of the Loan, Lender may reqnire that Comnmnity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees 'and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amouuts to be paid tinder this Section. Borrower shall pay Lender the Funds for Escrow Items nnless Lender waives Borrower's obligation to pay tbe Funds for any m' all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts 35492490 106a04wy. Ol01r 387 due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish Io Lender receipts evidencing such payment within sucb time period as Lender may reqnire. Borrower's obligation to make such payments and to provide receipts shall roi' all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant aod agreement" is used in Section 9..If Bm'rower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay tile ammmt dne for an Escrow Item, Lender may exercise its rights under Seclion 9 and pay such amount and Burrower shall lben be obligated nnder Section 9 to repay Io Lender any soch amount. Lender may revoke the waiver as to any or all Escrow Items al any time by a notice given in accordance witb Section 15 and, upon such revocation, Borrower shall pay to Lender all Ftlnds, and in such amounts, that are tl]en reqnired under ti]is Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) oot to exceed the maximmn amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or olherwise in accordance with Applicable Law. The Fnnds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds Io pay tile Escrow Items no later than tile time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyziog the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on tbe Funds and Applicable Law permits Lender to make such a charge. Unless all agreement is inade in writing or Applicabl'e Law reqnires interest to be paid on tile Fnnds, Lender shall not be reqnired to pay BmTower any interest or earnings on the Funds. Borrower and Lender can agree in writing, bowever, that interest shall be paid on the Funds. Lender shall give to Borrower. without charge, an animal accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defiued under RESPA., Lender shall accouot to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Fuuds held in escrow, as defined under RESPA, Leuder shall noti£y Borrower as required by RESPA, and Borrower shall pay Io Lender the amouut necessary to make up tbe shortage in accordance witb RESPA, but in no more II]an 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender sball notify Borrower as required by RESPA, aod Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all snms secured by this Security Instrument, Lender shall promptly retired to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to tbe Property which can attain priority over this Security lnstrmnent, leasehold payments or ground rents on the Property, if any, and Community Association Dries, Fees, and Assessments, if any. To the extent tbat these items are Escrow Items, Borrower shall pay then] in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees ill writing lo the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faifl] by. or defends against enforcemeot of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while tllose proceedings are pending, but only until such proceedings are conclnded; or (c) secm'es from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines lbat any part of tbe Property is subject to a lien wbich can at/ain priority over Ihis Secnrity Instrument, Lender may give Borrower a notice identifying the (~?A(wY) lOBaOSwy. OlOlr t/~ 35492490 /PC Page 5 of 15 ~-~-~-~-~-~-~-~-~ Form 3051 1/01 -388 (~M~-6A (WY) (ooos).ol 106aOGwy. OlOlr lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy tile lien or take one or more of the actimts set forth above in this Section 4. Lender may require Borrower to pay a one-time Charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods Ihat Lender requires. What Lender requires pursuant to the preceding sentences can change during tile term of the Loan. The insnrance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lemler may require Borrower lo pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or {b) a one-time charge for flood zone delermination and certification services and subsequent charges each dine remappings or similar changes occur which reasonably might affect such determination or certitlcation. Borrower shall also be responsible for the payment of any fees imposed by the Federal Entergency Managemeut Agency ill connection with the review of any.flood zone deterlnination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain inslu'ance coverage, al Lender'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, bul might or might not protect Borrower, Borrower's equity in tim Property, or tile contenls of the Property, against aoy risk, hazard or liability and miglit provide greater or lesser coverage Ihan was previously iii effect. Borrower ackuowledges that the cost of the insurance coverage so obtained might significautly exceed the cost of insnrance that Borrower could have obtained. Any alnounts disbursed by Lender tinder this Section 5 shall becmne additional debt of Borrower secured by this Security Instrument. These mnounts shall bear interest at the Note rate fi'om the date of disbursement and shall be payable, with such interest, upon notice from Leuder to Borrower requestiug paymeut. All iosurance policies required by Lender and renewals of snch policies shall be subject Io Lende'r's right to disapprove such policies, shall include a standard mortgage clause, and shall nasne Lender as mortgagee and/or as ali additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss. Borrower shall give prompt nolice to the insnrance carrier and Lender. Lender may make proof of loss if not made prolnptly by Borrower. Unless Lender aud Borrower otherwise agree in writing, any insnrance proceeds, whether or not the underlying insurauce was reqnired by Lender, shall be applied to restoration or repair of the Property, if Ihe restoration or repair 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 opportnnity to iospect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspeclion shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest 1o be paid on such insurance proceeds, Lender shall nol be reqnired to pay Bm'rower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the iusurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to tile sums secured by Ihis Security Instrument, whether or not then due, with  35492490 /PC Page6oflS Form 305! 1/01 -389 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in tile order provided for in Section 2. If Borrower abandons tile Property, Lender may file, negotiate and settle ally available insurance claim and related matters. If Borrower does no/ respond widlin 30 days to a notice from Lender that Ihe insnrance carrier has offered to settle a claim, then Lender may negotiate and setlle the claim. Tile 30-day period will begin when tile notice is given. In either event, or if Lender acquires tile Properly nnder Section 22 or otherwise, Bm'rower hereby assigns to Leuder (a) Borrower's rights to ally insurauce proceeds in an amount not to exceed tile amounts unpaid under Ihe Note or this Security Instrument, and (b) any other of Borrower's rights (other dian tile right to any refund of unearned premiums paid by BOrrower) under all insnrance policies covering tile Property, insofar as such rights are applicable to tile coverage of tile Property. Lender may use the insurance proceeds either to repair m' restore the Properly or to pay amounts unpaid under the Note or this Security Instrumenl, whelher or nol then due. 6. Occupancy. Borrower shall occupy, establish, and use Ihe Property as Borrower's principal residence within 60 days after tile execution of this Security Insh'ument and shall contimle to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent sllall not be unreasonably withheld, or unless exlenualing circumstances exisl which are beyond Borrower's control. 7. Preservation; Maintenance and Protection of the Property; Inspections. Borrower sbali not destroy, damage or impair the Property, allow Ihe Property to deteriorate or commit waste on the Property. Wbether or not Borrower is residing ill the Property, Borrower shall nlaintain the Property in order to prevent tile Property from deteriorating or decreasiug iu value due to its coudition. Unless it is determined pursnant to Seclion 5 that repair or restoration is not economically feasible, Borrower shall pronlptly repair the Property if damaged to avoid further deterioration or dalnage. If insurance or condelnnation proceeds are paid ill connection wi/h damage-to, or the taking of, tl~e Prope'rly, Borrower shall be respousible fo~I repairing or restoring tile Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for tile repairs and restoration in a single payment or in a series of progress payments as the work is completed. If Ibe insurance or cundemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon aud inspections of the Properly. If il has reasonable cause, Lender may inspect tile interior of tile improvements on tile Property. Leuder sball give Borrower uotice at/he time of or prior to such an interior inspection specifyiog such reasonable cause. 8. Borrower's Loan Application. Borrower sllall be in default if, during tile Loan application process, Borrower or any persons or entities acting at Ihe direction of Borrower or wi/Il Borrower's knowledge or consent gave lnaterially false, misleading, or inaccurate information or statements to Leuder (or failed to provide Lender with material information) in connection with tile Loao. Material · representations include, but are not limited to, representations conceruing Borrower's occnpancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perforln tile covenants and agreements contained in this Security Instrument, (b) Ihere is a legal proceeding that might significantly affect Lender's interest in tile Properly and/or righls under this Security Instrnmeni (snch as a proceeding in bankruptcy, probate, for condenmation or forfeitnre, for . enforcement of a lien which may attain priority over this Security Instrulnent or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's 'interest in the Properly and rigbts under this Security Instrument, including protecting and/or assessing the value of tile Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sams secured by a lien which has priority over this Security Instrument; (b) appearing in conrt; and (c) paying reasonable iniUa~)~ 35492490 /PC (~i~,~-6A(WY)~-- ,ooos).ol Page7 o, ,s ~~ Form 3051 106aO7wy. OlOlr 1/Ol attorneys' fees to protect its interest in tile Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entel'lng the Property to inake repairs, change locks, replace or board tip doors and windows, drain water from pipes, eliminate bnilding or 0tber code violations or dangerous conditions, and Ilave utilities turned on or off. Although Lender may take actioo tinder tills Section 9, Lender does not have to do so and is not under any dnty or obligation to do so. It is agreed that Lender incurs no liability for not laking auy or all actions aulllorized under this Section 9. .. ' Any amounts disbursed by Lender under tbis Section 9 shall become additional debt of Borrower secured by this Security Instrmnent. Tbese anmunts shall bear inlerest at the Note rate from tile date of disbUrsement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is ou a leasehold, Borrower shall COulply with all the provisions of Ibe lease. If Borrower acqnires fee title to tile Prollerty, lhe leasehold and Ille fee lille shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower sllall pay Ibe pre,niums required to nlaintain tile Mortgage Insurance in effect. If, for any reason, the Mortgage Inslu'ance coverage required by Lender ceases to be available from the nlortgage insurer that previously provided sucb insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insnrance, Borrower shall pay tile premiums required to oblain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost subslantially eqnivalent to Ibc cost to Borrower of tim Mortgage Insurance previously in effect, from an aiteruate mortgage insnrer selected by Leuder. If substantially equivalent Mortgage lnsnrance coverage is not available, Borrower shall continue to pay to Leoder tile amount of the separately designated payments/bat were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a llon-refi~ndable loss reserve in 'lieu of Mortgage Insurance. Such loss reserve shall be non-refimdable, notwithstanding tile fact that tile Loan is ultimately paid in fidl, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Iusurance coverage (in the amount and for the period tllal Lender requires) provided by an insnrer selected by Lender again becomes available, is obtained, aod Lender requires separately designated payments toward tile premimns for Mortgage Insurance. If Leuder required Mortgage Insurance as a condilion of making the Loan and Borrower was required to make separately designated payments toward, the premiums for Mortgage hlsurance, Borrower sball pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement belween Borrower and Lender providing for snch terminatiou or nntil terminalion is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at tile rate provided in the Note. Mortgage Insurauce reinlbnrses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loau as agreed. Borrower is not a party to the Mortgage Insurauce. Mortgage insurers evaluate their total risk on all such insurauce in force fi'om time to time, and may enter iuto agreements with other parties tbat sllare or modify their risk, or rednce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the oilier party (or parties) to these agreements. Tllese agreements may require the mortgage insurer to make paymenls using any source of funds that the mortgage insnrer may bare available (which may include funds obtained from Mortgage Insnrance premiunis). As a result of these agreements, Leuder, any purchaser of tbe Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive {direc'tly or indirecdy) alnounts tllat derive fi'om (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in excllange for sharing or modifying the mortgage insm'er's risk. or reducing losses. If such agreement provides lllat an affiliate of Lender takes a share of the insurer's risk in exchange for a sllare of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Fnrther: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. I~~ 35492490 /PC (~'r~-6A(WY) (ooo5).o! P.,9~ e o~ '~s Form 3051 1/01 106a08wy.0101r 391 (b) Any such agreements will not affect the rights Borrower has - if any - with respect tothe Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment o£ MiscellaneoUs Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a.total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in valoe of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater Ihan the amount of the'stuns secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the a]nount of the Miscellaneous Proceeds multiplied by lhe following fi'action: (a) the total amonnt of the stuns secured immediately before the partial taking, destrnction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shail be paid to Borrower. In the event of a partial taking, destrnction, or loss in value of the Property in which the fair ~narket valne of the Property immediately before the parlial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, tmless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sulns secured by this Security Instrument whether or not the sums are then due. If the Property is abaodoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 (lays after Ihe date the notice is given. Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the snms secnred by this Secnrity Instrument. whether or not then dne. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material i~npairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a rnling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Inslrument. The proceeds of any award or claim for da~nages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. (~-6A (VVY) (ooo5).m 106aO9wy. OlOlr Page 9 of 15 1/01 35492490 /PC Form 3051 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Leader to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to comnfence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sams secm'ed by fids Security Instrument by reason of any deniaud made by the original Borrower or any Successors in Interest of Borrower. Aoy forbearance by Lender in exercising any right or remedy including, withoot limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Bon'ower or in amounts less than the amount lhen due. shall not be a waiver of or preclude the exercise of any right or remedy. 13, Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pay the sums secured by this Security Instrmnent: and (c) agrees fi]at Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Sobject to the provisions of Section 18. any Snccessor in Interest of BorroWer who assumes Borrower's obligations tinder this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits tinder tiffs Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the imrpose of protecting Lender's interest in the Property and rights under this · Secnrily Instrument, including, but not limited lo, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express antbority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees tl]at are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and flint law is finally interpreted so that the interest or other loan charges collected or to be collected in connection will] the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sams already collected frmn Borrower which exceeded permitted limits will be refi~nded to Borrower. Lemler may choose to ~nake this refund by redncing the principal owed under the Note or by making a direct payment to Borrower. If a retired reduces principal, the reduction will be treated as a partial prepayment wifllont any prepayment charge (whether or not a prepayment charge is provided for under the Note}. Borrower's acceptance of any such retired made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices g~ven by Borrower or Lender in connection with fids Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to bave been g~ven to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute, notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Properly Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only repor! a change of address through that specified procedure. There may be only one designated notice address under this Security lnstrnment at any one tinle. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lend ar has designated another address by notice to Borrower. Any notice in cmmectiOn with this Security Instrument shall not be deemed to have been given to Lender until actually received by Leader. If any notice required by this Security lnstrmnent is also required under Applicable Law. the Applicable Law requirement will satisfy the corresponding reqnirement nnder this Security Instrument. Initials: ~ .~. 35492490 /PC (~ff~-6A(VVY) (ooos),m P.g, ~oo~ ~s ~ Form 3051 1/01 106alOwy. OlOlr 16. Governing Law; Severability; Rules of Construction. This Security Instrument si}all be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations coutained in this Security Instrument are subject to any reqnireJnents and. Ii,nlra}ions of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but sucl~ silence shall not be construed as a prohibition against agreement by contract. In tile event that any provision or clause of this Security Instrument or the Note conflicts with Applicable' Law, such conflict shall not affect other provisions of this Security Instrmnent or the Note which can be given effect without the conflictiog provision. As used in this Security Instrumeot: (a) words of the masculine gender shall nLean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall meau and include the plural and vice versa; and (c) the word "~nay" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the ProPerty, including, but not limited to. those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of lille by Borrower at a futnre date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or traosferred) without Lender's prior written consent, Lender may require immediate payment in full of all stuns secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower mnst pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower nLeets certain comlitions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for tile terminatimL of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Secnrity Instrument. Those conditions are that Borrbwer: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, inclnding, but not limited to, reasonable attorneys' fees, property inspection and valnation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instmmeut; and {d) takes such action as Lender may reasonably require to assm'e that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following for;ns, as selected by Lender: (a) cash: (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity: or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Secnrity Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. Itowever, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note {together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security lnstrmnent and performs other mortgage loan servicing obligations under tile Note, this Security Instrument. and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer. the address to which payments should be made and any oil}er information RESPA (~-6A(VVY) (ooos)m 106al lwy.0101r //~/~ 35492490 IPC Page 11 or' 15 ~ Form 3051 1/01 requires in connection witb a notice of transfer of servicing. If the Note is sold and thereafter tile Loan is serviced by a Loan Servicer other than lhe pnrchaser of the Note, tile mortgage loan servicing obligations to Borrower will remaiu with tile Loan Servicer or be transferred to a successor Loan Service]- and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender ]nay cmmnence} join, or be joined to any judicial action (as either an individual litigant or. the men]ber of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that tile other party has breached any provision of, or any duty owed by reason of, this Security Instrmnent, until such Borrower or Lender has notified the other party (with such notice given in cmnpliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action, lf~ Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be dee]ned to be reasonable for purposes of Ibis paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy tile nolice and opportunity to lake corrective action provisions of this Sectiou 20. 21. Hazardous Substances, As used in this Section 21: (a) "Hazardous Substances" are those substances deftned as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and tile following substances: gasoline, kerosene, other tlammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where tile Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" iucludes any respouse action, remedial action, or removal action, as defined in Environmental Law: and (d) an "Enviromnental Condilion" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup, Borrower shall not cause or permit tile presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in tile Property. Borrower shall not do, nor allow auyone else to do, anything affectiug the Property (a) that is iu violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due Io the presence, use, or release of a Hazardous Substance, crdates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigalion, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Enviromnental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects tile Value of tile Property. If Borrower learns, or is notified by any goverumental or regulatory authority, or auy private party, that a~]y removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall prmnptly take all necessary remedial actions in accordance with Environmental Law, Nothing herein shall create any obligation on Lender for an Environmental Cleanup. (~d~6A(VVY) (ooo5).o~ 106al2wy.0101r initials:C~' 35492490 /PC Page 32 o¢ 15 ~ Form 3051 1/01 .395 NON-UNIFORM COVENANTS~ Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument. and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of ali sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this SeCurity Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the hmnestead exemption laws of Wyoming. ',~iu~,~:O~d. 35492490 /PC (~l~t~.6A(WY)~l~ (ooos).ol Page 13 ol ~5 //~j~ Form 3051 106al3wy.0101r 11Ol .396 BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: (Seal) -Borrower CINDY ANaL (Seal) -norrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (~-6A (WY] ~ooosl.m 106al4wy.0101r Page 14 of 15 35492490 /PC Form 3051 11Ol STATE OF WYOMING, /~*-4~ ('r--. County ss: The foregoing instrument was acknowledged before me this I~J~~ %~--~ ~ ~:~m.~ by BLAKE ANGELL AND CINDY ANGELL My Commission Expires: Nolary Public '~,(~) 35492490 /PC Initials: · t' 106alSwy,0101r 1101 Legal Description Lot 9 of the Twin Cliff Subdivision, Lincoln County, Wyoming as described on the official plat thereof.