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HomeMy WebLinkAbout894648 Remrn To: WELLS FARGO HOME MORTGAGE, INC. ' 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 Prepared By: WELLS FARGO HOME MORTGAGE, INC. 89h61~8 RECEIVED LINCOLN COUNTY CLERK 0,3 OCT 22 F'H !: 58 JEANNE WAGNER 53:9 gtPAOE 223 1919 DOUGLAS,, OMAHA, 681010000 NE [Space Almve This Lble F.r Rec,,rding I)at.I MORTGAGE DEFINITIONS Words used in multiple sections of this 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) "Security Instrument" means f/tis document, which is dated OCTOBER together with all Riders to this document. (B) "Borrower" is ROBERT SCOTT ROBINSON, A MARRIED PERSON 17, 2003 Borrower is the ~nortgagor under this Security Instrument. (C) "Lender" is ~ELLS FARGO HOME MORTGAGE, INC. Lender is a CORPORATION organized and existing under the laws of THE STATE OF CALIFORNIA 0035214147 WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 1 of 115 Initial~/I ~t, - VMP MORTGAGE FORMS - {800}521-7291 Form 3051 1/Ol 224 Lender's address is P.O. BOX 10304, DES MOINES, IA 503060304 Leuder is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and datedOOTOBER 17, 2003 The Note states that Borrower owes Lender O}~E HUNDRED THIRTY SIX THOUSAND EIGHT HUNDRED AND 00/100 Dollars (U.S. $ **** 136, Iii 00.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than NOVEI, I. BER 01, 2033 0g) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under tile Note, and all sunts due under [bis Security Instrument, plus interest (G) "Riders" means all Riders to this Security Instrument that a~'e executed by Borrower. The tbllowiag 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] (It) "Applicable Law" means all controlling applicable federal, state and local qannc, ordi~mnces and adnfinistrative roles and orders Ithat have the tlr'cci i)[ }ax~ ~s x~c'll as all ,q~pl~ablc non-a ppealable judicial opinions. ~ "Community Association Dues, Fees, and Ass~sments" means all dues. l~es. assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or sitNlar orga~tiou. (~ "Electrouic Funds Transfer" means any transfer of ~nds, other than a transaction origimted by check, draft, or sinfilar paper i~tmment, which is initiated through an electronic tenNnal, telephotfic instrument, computer, or magnetic tape so as to order, instruct, or au~orize a financial institution to debit or credit an account. Such term includes, but is not li~ted to, point-of-sale transfers, automated teller ~mchine transactions, transfers i~tiated by telephone, wire transfers, and automated clearinghouse transt~rs. (K) "Escrow Items" means ~ose items that are described in Section 3. ~) "Miscellaneous ~oceeds" mea~ any compensation, settlement, award of damages, or proceeds paid by any ~ird party (o~er than insurance proceeds paid under the coverages described in Section 5) lbr: (i) damge to, or destruction of, ~e Property; (ii) condennmtion or o~er taking of all or any part of the Property; (iii) conveyance in lieu of condemtion; or (iv) nfisrepresentations of, or oufissions as to, the value and/or condition of ~e Property. ~ "Mortgage Insurance" mea~ i~urance protecting Lender agaimt the nonpayment of, or dethult on, the Loan. ~ "Periodic Payment" means the regularly scheduled amount due lbr (i) principal and imeres~ under thc Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "~SPA" means the Real Estate Settlement Procedures Ac~ (12 U.S.C. Secli~fl 26111 cl implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended time, or any additio~ml or successor legislation or regulation flint governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restricti{ms that arc imposed i. rcgald to a "federally related mortgage loan" even if the Loan does not quali~ as a "f~derally related mortgage loan" under ~SPA. Initials~ ~6{WY) Iooo~1 pao~ ~ o~ ~s Form 30~ 2 2 5 (P) "Successor in Interest of Borrower'! means 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 Instrument. TRANSFER OF RIGHTS IN THE PROPERTY Tiffs Security Instrument secures to Lender: ti) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements u.ndcr this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and couvey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the COUNTY of LINCOLN [Type of Recording Jurisdiction] [Name of Recording Jurisdictionl LOT 7 A.ND 8 OF BLOCK 4 OF THE LINCOLN HEIGHTS 5TH ADDITION, THIRD FILING TO THE CITY OF KEMMERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF TAX STATEM.ENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, INC., P.O. BOX 10304, DES MOINES, IA 503060304 ParcellD Number: 12211623304039.00 1908 BERRY DRIVE KEMJ4ERER ("Property Address"): which currently has the address of IStreetl [City] , Wyoming 83101 IZip Codel TOGETHER WITH all the improvements now or hereafter erected (,~ the pr~}pcnx ',.md easements, appurtenances, and fixtures now or hereafter a part of the property. All I'cpl:lcclnc~l< additions shall also be covered by Otis Security Instmmem. All of d~e lm'egm~g ~s ~clcrlcd Security Imstmment as fl~e "Property" BO~OWER COVENANTS Omi Borrowe~' is law~lly seised of ~c estate hereby ctmvevcd and has the right to mortgage, grant and convey ~e Property and ~at ~e Property ~s unencumbered, except tbr encumbra~mes of record. Borrower warrants and will detknd generally the title to ~e Property against all clai~ and demnds, subject to any encumbrances of record. THIS SECU~TY INSTRUMENT combines u~fom cove~nts for mtio~ml use and non-u~Ibrm cove~nts wi~ li~ted variations by jurisdiction to constitute a uffifom security instrument coveriug real property. UNIFO~ COVENANTS. Bo~ower and Lender covemnt and agree as follows: 1. Payment of Principal, Inter,t, Escrow Items, ~epayment Charges, and Late Charges. Borrower shall pay when due ~e principal of, and interest on, ~e debt evidenced by ~e Note and any prepayment charges and late charges due under ~e Note. Bo~ower shall also pay hnds for Escrow lte~q pursuant to Section 3. Payments due under ~e Note and this Security l~trument shall be ~de in U.S. currency. However, if any check or o~er i~tmment received by Lender as pay~nent under ~e Note or this ~6(WY) 10o06l P~, 3 of ~ Form 3051 1/01 226 Security hkstmment is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following fk)rms, 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 Fuuds Transfer. Payments arc dec,ned received by Leuder when received at die Iocatiou desiguated iu die N(~te or at such other location as may be desigimted by Lender in accordauce with die notice prowsions m Section 15. Lender umy return any payment or partial payinent if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring die Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse 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, alien Lender ueed not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower nhakes payment to bring the Loan current. If Borrower does not do so within a reasonable period of tilne, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to die outstanding principal balance under the Note inunediately prior to foreclosure. No offset or claim which Borrower nfight have now or in the future against Lender shall relieve Borrower from making payments due under the Note and. this Security Instrument or perfor~ning the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Sectitm 2. all payments accepted and applied by Lender shall be applied in die following order of priority: (a) interest due under the Note; (b) principal due under die Note; (c) amounts due uuder Section 3. Such payments shall be applied to each Periodic Payment in the order ill which it became due. Any remaiuing amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower fi~r a delinquent Peri~dic Paymcm which includes a sufficient amouut to pay any late charge due, the payme,u may be applied to the delinquem i~ayment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received frotn Borrower to the repayment of the Periodic Payntents if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess nmy be applied to auy late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in 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, 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 the Note is paid in full, a sum (the "Funds") to provide for payment of a~nounts due for: (a) taxes and assessments and other items which can attaiu priority over this Security lustrt, ment as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiuuzs for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance pretniums, if any, or any sums payable by Borrower to Let]der in lieu of the payment of Mortgage Insurance prentiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during die ter~n of die Loan, Lender ~nay require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, tees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender die Funds for Escrow Items unless Lender waives Borrower's obligation to pay die Funds for any or all Escrow Items. Lender may w~,ive Bm-tower's obligation to pay to Lender Funds for any or all Escrow hems at any time. Any such waiver may mdy be in writiug. In the event of such waiver, Borrower shall pay directly, when and where payable, thc mmmnts Initials:~ (~;)~-6(WY} fooos) Page 4 o[ ~5 Form 3051 1/01 227 due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,. shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to nmke such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreexnent contained in this Security Instrument, as the phrase "covenant and agreement" 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 for an Escrow Item, Leuder nmy exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke file waiver as to any or all Escrow hems at auv accordance with Section 15 and, upon such revocation, Borrower shall pay such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in au amount (a) sufficient to permit Lender t{~ appl3 the Funds at the time specified under RESPA, and (b) not to exceed thc maximmn amou,~t 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 otherwise in accordance with Applicable Law. The Funds shall be held in an iustitution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or any Federal Home Loan Bank. Lender shall apply file Funds to pay file Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to nmke such a charge. Unless an agreement is made in writiug or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest Shall be paid on the Funds. Lender shall give to Borrower, without charge, an a~mual accounting of file 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 the excess funds in accordance with RESPA. If there is a shortage of Funds held iu escrow. as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay To Lender the amount necessary to make up the shortage in accordance with RESPA, but in no re(ire than 12 monflfly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount uecessary to make up the deficiency in accordance With RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the PropertY which can attain priority over this Security Instn, ment, leasehold payments or ground rents on the Property, if any, and Connnunity Associatiou Dues, Fees, and Assessments, il' auy. To Ore extent that these items are Escrow hems, Borrower shall pay them in the manucr provided in Secmm 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of file obligation secured by the lien in a nmxmer acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against elfforcement of the lien in, legal proceedings which in Lender's opixfion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the prOperty is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the I~I~-6IWY) Iooosl Page B of 16 Form 3051 1/01 228 lien. Within 10 days of file date on which that uotice is given, Bormwel shall sausly the more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge lbr a real estate tax verificauon and/or reporting service used by Lender in co~mection 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 aud floods, for which Lender requires insurance. This insurance shall be maintained itl the amounts (including deductible levels), and for file periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing file insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower' to pay, iu connection with this Loan, either: (al a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge lbr flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by file Federal Emergency Management Agency itl colmection with the review of any flood zone deternfination resulting from an objection by Borrower. If Borrower fails to 'maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase anv particular type or amount of coverage. Therelbre. such cover~,~e shall c~vcr I_cndcr. llOt protect Borrower, Borrower's equity ill tile Properl).. or tile COlllell[?, ol' tilt.' HI'lit)el'l} hazard or liability and n]ight provide greater or lesser coverage than was previously ill el'leer. acknowledges that the cost of file insurance coverage so obtained might significantly exceed the cost insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by ti]is Security hlstrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additio~ml 10ss 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 additio~ml loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and 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 all opportunity to inspec~ such Property m ensure the work has been completed to Lender's satisfaction, provided flla~ such inspection shall be undertaken promptly. Lender may disburse proceeds for file repairs and restoration ill a single payment ~,~ in a ~,cric~ 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 insurance proceeds, Lender shall not be required tu pa interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall nnt be paid out of file insurance proceeds and shall be file sole obligation of Borrower. If tim restoration or repair is not econon]ically feasible or Lender's security would be lessenedl tile insurance proceeds shall be applied to file sums secured by this Security Instrument, whether or not then due, with 6(WY)(ooos) ~age6of~ Form 3051 1101 229 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in file order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insur~mce claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurauce proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any oilier of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies coveriug the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use file insurance proceeds either to repair or restore tile Property to pay amounts unpaid under the Note or fliis Security Instrument. whetheror not then due. 6. Occupancy. Borrower shall occupy, establish, aod use thc Propert~ as Borrower s prit~cipal residence within 60 days after die execution of this Security Instrument and shall condnue to occupy the Property as Borrower's principal residence tbr at least one year al'let die date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be um-easonably withheld, or unless extenuating circmnstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow die Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall tnaiutain file Property in order to prevent die Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in comlection with da~nage to, or the taking of, die Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. 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. If the insurance or condenmation 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 and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of file improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an ioterior inspection specifying such reasonable cause. 8. Borrower's.Loan Applicatiou, Borrower shall be i~ delhuh il'. duriltg thc I.~,',m process, Borrower or any persons or entities acting at tile direction ol Bt~rr~wer .r ~ith knowledge or consent gave materially false, misleading, or inaccurate information or statetl~cms t~ l_clldcr (or tailed to provide Lender with material inlbnnation) in cotmection wi[It the Loan. Material representations include, but are not linfited to, represeutations coucerniug Borrower's occupaucy of file 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 perform the covenants aud agreements contained in this Security Instrument, (b) there is a legal proceeding that might significautly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for conde~m~ation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned file Property, then Lender nhay do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing 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 Instrument; (b) appearing in court; and (c) payiug reasonable Initials:/~ 11~-6(WY) tooosl P.~ 7 o~' is - ' Form 3051 1t01 230 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not linfited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eli~ninate bu. ilding or other code violations or dangerous conditions, aud have utilities turned on or off. Although Lender may take acnon under this Section 9 Lender does not have t() d() so and is nm under any duty or obligation to do so. It is agreed that Lender incurs no liability h)r not taking any or all actions authorized under fliis Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from die date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all die provisions of the lease. If Borrower acquires fee title to die Property, the leasehold and the fee title shall not merge unless Lender agrees to the znerger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of ~naking the Loan, Borrower shall pay the prenfiums required to maintain hie Mortgage Insurance in effect. If. fl~r an) reasm]. the Mortgage Insurance coverage required by Lender ceases to be available from die mortgage ,nsurcr tha~ previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost' to Borrower of die Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender die amount of die separately designated paymeuts that were due when die insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refUndable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding die fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any iuterest or eanfings on such loss reserve. Lender can m! hmger require I.ss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires} provided by an insurer selected by Lender agaiu becomes available, is obtained, and Lender requires Separately designated payments toward the prentiums tbr Mortgage lnsurauce. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the prentiums for Mortgage Insurance, Borrower shall 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 between Borrower and Lender providing for such termination or until ternfination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. ' Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to die Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in ~brce from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the ]nortgage insurer and the other party (or parties) to these agreements. These agreements may. require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which nmy include funds obtained froln Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any rei~ksurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk. or reduci,g h),~ses. If 'qlch ilgre¢lll¢lll provides that an affiliate of Lender takes a share or the iflsurer's risk i, cxchamdc h,r a share ,,I tilt' preufiums paid to the insurer, the arrangement is often termed "captive reinsurance." [:tH'd~cr (a) Any such agreements will not affect the amonnts that Borrower has agreed to pa.,~ I'or Mortgage Insurance, or any other terms of the Loan. Such agree,nents will not increase the amonnt Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any ,'efund. Initials~ (~)~-6(WY} Iooos} Page e of tS Form 3051 1/01 (b) Any such agreements will not affect the rights Borrower has - if any - with respect to tile 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 of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc hcrch3 assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoratim~ the Property, if the restoration or repair is economically feasible and Lender's securit.~ is n,t Ics~,cncd. 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 lbr the repairs and restoration in a single disbursement or in a series of progress payments as file work is completed. Unless an agreement is made in writiug 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 value of the Property in which the fair nmrket value of the Property inm~ediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument inm~ediately 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 amount of the Miscellaueous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately berate the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property inm~ediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property inm~ediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured irmnediately betbre the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the stuns are then due. If the Property is abandoned 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 tbr danmges, Borrower fails to respond to Lender within 30 days after the date fl~e notice is given, Lender is authorized to .collect aud apply the Miscellaueous Proceeds either t. restoration t.' repair .l thc sums secured by this Security Instrument. whether or not then due. "Opp.sing Party" means thc third parD' that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right ol action 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 impairment 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 ruling that, in Lender's judgment, precludes tbrfeiture of the Property or other nmterial impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or clai~n for damages 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 tile Property shall be applied in the order provided' for in Section 2. Initial~: ~ (~)~-6(WY) 1ooo5) Page 9 o~' 15 / o, Form 3051 1/01 12. Borrower Not Released; Forbearauce By Lender Not a Waiver. Extension or' the time fi~r payment or modification of amortization of die sums secured by tiffs Security Insu~ment ~ranted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release ~e liability of Borrower or any Successors in Interest of Borrower. Lender shall no~ be required ~o commence proceedings againsl auy Successor in Interest'"of Borrower or to re~se to extend time for payment or ofllerwise modify amortization of file su~ secured by ~is Security Instrument by reason of any demand made by file ori~i~l Boffower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, wi~out Ii'ration, Lender's acceptance of payments'from ~ird persons, entities or Successors in Interest of Borrower or in amounts less ~an ~e amount ~en due, shall not be a waiver of or preclude ~e exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Succ~sors and Assigns Bound. Borrower covenants and agrees ~at Boffower's obligatio~ and liability shall be joint and several. However, any Borrower who co-sig~ ~is Security [~tmment but does not execute ~e Note (a "co-signer"): (a) is co-sighting Security I~tm~nent o~y to mortgage, grant and convey ~e co-signer's interest in fl~e Property under ~e terms of tiffs Security Instrument; (b) is not persomlly obligated to pay fl~e su~ secured by Otis Security h~tmment; and (c) agrees ~at Lender and any o~er Borrower can agree to extend, modify, forbear or rake any acco~odatio~ wi~ regard to ~e tern of ~is Security l~ment or ~e Note wifl~out fl~e co-signer's cogent. Subject to fl~e pmvisio~ of section '18, any Successor in Interest of Borrower who assumes Borrower's obligatio~ under ~is Security hzqtm~nent iu writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under tiffs Security Instrument. Borrower shall .~t bc released Borrower's obligations and liability under tiffs Security Instrument unless Lender agrees t,) such iclcasc writing. The covenants and agreements of Otis Security lus.mnem shall billd (exccpl as pl.x idcd i~l Section 20) aid benefit ~e successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees tbr services pertBrmed iu comlcction with Borrower's default, for file pu~ose of protecting Leuder's interest iu fl~e Property and rights under Security Imstmment, including, but not!infited to, attorneys' fees, property iaspectiou and valuation ibes, In regard to any o~er fees, fl~e absence of express au~ority in tiffs Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on fl~e charging of such fee. Lender may not charge fees ~at are expressly prohibited by ~is Security Imtmment or by Applicable Law. If fl~e Loan is subject to a law which sets maximum loan charges, and flint law is fimlly interfered so fl~at ~e interest or off, er loan charges Collected or to be collected in connection wifl~ fl~e Loan exceed pernfitted li~ts, fllen: (a) any such loan charge shall be reduced by fl~e amount necessary to reduce the charge to fl~e per~tted liufit; and (b) any sums already collected from Borrower which exceeded pernfitted Ii,nits will be re~nded to Borrower. Lender may choose to nmke fltis re.nd by reduciug die principal owed under fl~e Note or by mhng a direct payment to Borrower. If a re~d reduces principal, ~e reduction will be treated as a parti~ prepayment wi&out any prepayment charge (whefl~er or not a prepayment charge is provided for under ~e Note). Borrower's acceptance of any such re.nd rode by direct payment to Borrower will comti~te a waiver of auy right of action Borrower nfight have arising out of such overcharge. 15. Notlc~. All notices given by Borrower or Lender in co~mection wifl~ tiffs Security hmtmment must be in writiug, Any notice to Borrower in co~mection with this Security lustmment shall be deemed to have been given to Borrower when nmiled by first class ~nail or when actually delivered tn Borrower's notice address if sent by off, er mea~ks. Notice to any one Borrower shall constitute notice to all Borrowers mfless Applicable Law expressly requires oflierwise. The notice address shall be file Property Address unless Borrower has desig~mted a substi~te uotice address by notice to Lender. Borrower shall prompHy ~mtify Lender of Borrower's change of address. If ~nder specifies a procedure lbr reporting Borrower's change of address, fl~en Borrower shall o~dy report a change of address fl~rough that specified procedure. There nmy be o~y one desig~mted uotice address under tiffs Security hmtmment at auy one time. Auy ~mtice to Lender shall be given by delivering it or by nmiling it by first class mail to Lender's address s~ted herein uffiess Lender has desig~ted ano~er address by notice to Borrower. Auy uotice m com~ection wi~ ~is Security Imtmment shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, fl~e Applicable Law require~nent will satist~ fl~e corresponding requirement under this Security h~tmment. ~6(WY) Iooo~1 P~, ~o of ~ Form 3051 1/01 233 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights aud obligations contained in this Security Instrument are subject to any requirements and linfitations or' Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the 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 Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall ~nean and include corresponding neuter words or words of the fe~ninine gender: (b) words in the singular qhall me~n include the plural and vice versa; and (c) the word "may" gives sole discremm without an) ~}bligamm take any action. 17. Borrower's COpy. Borrower shall be given one copy ol' the Note aud ol' this Securit5 Illstl~.ltllclu. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used iu this Sectim~ 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but uot 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 title by Borrower at a future 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 axd a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. HoWever, tiffs option shall not be exercised by Lender if such exercise is prohibited by Applicable Law, If Lender exercises tiffs 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 must pay all sums secured by this Security Instrument. If Borrower fils to pay these sums prior to the expiration of this period, Lender may invoke any remedies pernfitted by this Security Instru~nent without further notice or demand on Borrower. 19. Borrower's Right to ReinState After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the eariiest 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 the termination of Borrower's right to reinstate; or (c) entry of a judg~nent enforcing this Security Instrulnent. Those conditions are that Borrower: (a) pays Lender all sums which then would be dne under this Securilv Instrument and the Note as if no acceleration had occurred: (b) cures any dcl~uh of' am' ~thcr co~cn;.m~s agreements; (c) pays all expenses incurred in enfi)rcing tiffs Security lustrutnem, including, bm not linntcd to, reasonable attorneys' fees, property inspection and valuatiou tees, aBd {}flier tees incurred IiH' thc purpose of protecting Lender's interest in the Property and rights under this Security Instrumcm; and takes such action as Lender ~nay reasonably require to assure that Lender's iutercst in file Property and rights under tiffs Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrulnent, shall continue unChanged. Lender ~nay require that Borrower pay such reinstate~neut sums and expenses in one or more of the following forrrLs, 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 Security htstrument and obligations secured hereby shall re~nain fully effective as if no acceleration had occurred. However, 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 fltis Security Instrument) can be sold one or more times without prior uotice 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 Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also nfight 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 other information RESPA initials f ~/~I~ (~-8(WY) Iooo~ Page 1 ~ o~ 1 s Form 3061 1/01 2 3 4 requires in .connecuon with a notice of transt'er of servicing. If thc Note is sold and thereafter the L~an serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will renmin with the Loan Servicer or be transferred to a successor Loan Servicer and are assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that file other party has breached any provision of, or any duty owed by reason of, this Security !nstrument, until such Borrower or Lender has notified the other party (with such notice given in compliance 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. II' Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this 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 the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used iu this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Envirmm~elaal Law and the following substances: gasoliue, kerosene, other flanmmble or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or tbrmaldehyde, aqd radioactive materials: (b) "Enviromnental Law" means federal laws and laws of the jurisdiction where file Property is h)cated thai relate to health, safety or environmental protection; (c) "Environmental Clea~up" includes any action, remedial action, or removal action, as defined in Enviromnental Law; and (d) an "Enviromnental Condition" means a condition that can cause, contribute to, or otherwise trigger an Enviromnental Clea~mp. Borrower shall not cause or pernfit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, ou or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to file presence, use, or ,-elease or' a Hazardous Substance, creates 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 mainte]mnce of the Property (including, but not linfited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demaud, lawsuit or other action by any govermnental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental 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 pl'esence, use .r release Hazardous Substance which adversely affects tile value ~1' thc Pre}perD. I1' Borr~mcr learns ~,~ i,, by any governmental or regulatory authority, or any private party, that any removal ~n' mhcr rcmcdiamm of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all ~ccessar3 remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. 11~)~-6(WY) 10005) Page ~2 o~ ~5 Form 3051 1/01 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleratiou 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 othenvise). The notice shall specify: the default; (b) the action required to cure the default; (c) a date, not less than 30 {lays from the {late 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 or tlie 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 all 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 noi limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) auy excess lo 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 htstrument. Borrower shall pay any recordation costs. Lender amy charge Borrower a fee tbr releasing this Security Instrument, but tuffy if the tee is paid to a third party ~br services rendered and charging of the fee is pemfitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exe~nption laws of Wyonfing. (~-O(WY) [ooo~1 P.g, ~a o~ ~s Form 3051 1/01 BY SIGNING BELOW, Borrower accepts and agrees to file terrrks and cove~mnts contained in riffs Security Instm~nent and in any Rider executed by Borrower and recorded with it. Witnesses: ROBERT SCOTT ROBINSON (Seal) -Borrower (Seal') (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal] -Borrower -Borrower (~)~6(WY) (ooos] Page 14 o! Iff Form 3051 1/01 237 STATE OF WYOMING, LINCOLN The foregoing instrument was acknowledged before me this by ROBERT SCOTT ROBINSON 17th day County ss: of October, 2003 My Commission Expires: February 2, 2006 ..q~ELLEY -q,U~0NJ. - NOTNT'f PUIAJC Notary Public (~-6G(WY) Iooos) Page 15 of 15 Form 3051 1/01