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HomeMy WebLinkAbout896242R¢tuH1 To: II~)NII.('~INIING~ I'IN.\N( IAI. NI:Ik%(IRK. INt MIN~I,~AI'~H 15. MN 55423 I.onn Number: .JI-9441~}7-{, Prepared By: HomeComings Financial Network 14850 Quorum ~rive, Suite 500 Dallas, TX 75254 RECEIVED LINCOLFJ COUNTy CLERK BOOK54 . pRPAOE 9 0 0 b'C. lmCt' ,\lm'*c Thi~ I.i.c I.',,r Rcc,,rdi.~ MORTGAGE MIN 10006260,1194410769 DEFINITIONS Words used in multiple sections of Ihis document are defined below and.olhcr x~o,'ds arc defined in Seclions 3. II. 13. 18, 20 and 21. Cerlain rules rcgardin~ II~e usage o1' xvcm. ls tlsc'd in Ihis doctmlcn! afc also provided in Section 16. (A) "Securitylnstrumen/" means Ihis documenL xxhich is dated together with all Riders to this document. (B) "Borrosver"is ~E ~N KOMINSKY, ~ U~RRIED WOb~ DECEMBER 23RD, 2003 Borrower is the mortgagor under this Security lnst] umenl. (C) "MERS" is lVlorlgage Elech-onic Registration Syslems. Inc. MERS is a scparalc ct,rp0-al o l that is acting solely as a nominee Ik~r Lender and Lender's successors and assigns. 5II-:RS is the mortgagee under this Securih' Instrument. MERS is organized and exisling under (he laxvs of Delaware. and has an }addressa,d number of ILO. Box 2026. Flint. MI 48501-2026. lei. {RRS} flTq-¢,ll' I{%. lelephone Y\II'M )R ~ \Il I.'.rm31151 I.'lll 90! (D) "Lender"is HOMECOMINGS FINA_NCIAL NETWORK INC. Lendel' is a CORPOlqATION o,-ganized and e×isling under the laxv~ of DELAWARE k~nder's address is 14850 QUORUM DRIVE, SUITE 500 DALLAS, TX 75254 (E) "Note"means lhe promisso~7 note signed by Bon'oxve,' aud dated DECEMBER 23RD, 2003 The Note states that Bon'ower owes Lender SIXTY SIX THOUS~D ~D NO,/100 l)olhu's (U.S. ~ 66,000.00 ) plus interest. Borrower has promised lo pay this debt iu vcgulm' Periodic Payments and to pay the debt in lhll not later than ff~u~RY ~ST, 2034 (F) "Proper~"means the property that is described below undcm' the heading "Tnmsffcr of Rights in the Property." (G) "Loan" means the debt evidenced by the Note. plu~ h~terest, any prepayment char'Scs and late charges due trader the Note. and nil sums due under this Security Insu'ument. plus interest. (It) "Riders"means all Riders to ibis ~ecm'ily Instrument that arc cxcculed by Bom~-'cr. Thc Ibllowing Riders are to be executed by Bon'ower [check box as applicoble]: ~ Adjustable Rate Ride,' ~ Condominium Ride,' ~ 5eccmd l lome Ride,' ~ Balloon Ride,' ~ Planned Unit Development Ride,- ~ I-4 Fa,ally ~idei' ~ VA Rider ~ Biweekly Payment Rider I j Othe,-(s)[specil3'] (I) "Applicable Law" means all controllin,.z applicable Federal. stale and Io~_'al statutes, regulation;_ ordinances and administ,'ative roles anti or&ts (that have the el'l~ct of laxx/ as xxell as all applicable final. non-appealable judicial opinions. (.I) "Community Association Dues, Fees, and ,~kssessmeuts" means all dues. I~cs. asscssmeuls and othc,' charges that are imposed on Bon'oxver o,' the Properly by a omdomi,6um associatimL association or similar organization. (K) "ElecU'onic Funds Trnnsfer" means any h'anslkr of Ikmds. tqhc~' limn a h'ansaclion ,,riginatcd hy check, draft, or similm' paper instrument, which is initiated Ilu'ough an electronic t'crminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial, inslittHion to debit Or credit an account. Such term includes, but is not limiled to. point-olksale transfc'~'s, auton-mted teller machine transactions, transfers initiated by telephone, wire n'anslkrs, and aul'omalcd clearinghouse transl~rs. (L) "Escrow l~ems" means those items that are described in Section 3. (M) "Siiscellaneous Proceeds" means any compensat oil settlement_ award ol' damages, or proceeds paid by any Ihird party (other than insurance proceeds'paid under the coverages dcscHbecl in Ncction 5) Ibr: dama2e to. or destruction of. the Property: (ii) condemnation or olher taking of all o~- aux' part of Prop~'ty: (iii) conveyance in lieu of condemnation: or (iv} misrclwescnlatious of. or ,:,missions as lo. the value and/or condition of the Property. (N) ,5lortgnge Insurance" means insm'nnce protect ng l_.ende~' against the nonpayment o1'. of tlelkndl Ihe Loan. (O) "Periodic Payment" means the regularly scheduled amount due [br (i} principal and inleresl under thc Note. plus (ii) any amounts under Section 3 of this Security lnguumenl. (P) "RESPA" means the ReM Estate Settlement Procedures Act(12 US.C. Section 2601 ct seq) and its implementing regulation. Regulation X (24 C.F.R. Pa~-I 3500). as Ihey might be amended flora time to time. or any additi6nal or successor legislation or regulation Ihat gox'e~ns the same st,b. iect mailer. ,'ks used in this Security Instrument. "RESPA" reIkrs to all t-equiremeats and resn'icti,ms tha~ are imposed in regard to a "tbderally related mortgage loan" even if the Loan does llol qualil]v as a "lk'dendl5 rclalcd loan" under RESPA. Form3(ISl l/Ill (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property. xvhethcr or not that party has assumed Borrower's obligations under Ihe Note and 'or this Security Insh'umeut. TRANSFER OF RIGHTS IN THE PROPER'[Y This Security Instrument secures to Lender: (i) thc repayment ol' the I._oan. and all renewals, extensions and modifications of the Note: and (ii) lhe perlbrmance of Bon'owcr's uoxenants a,d a?'ccmcul~ under this Security Inslrument a,d the Note. ["or this purpose. Borrtm'er docs hereby nh,l'lgagc, gravel a;~d ct,~;x'es to MERS {solely as nomi'nee Ibr t.cndcr and Lender's successors alld assigns) and t,, thc successors nnd nssigns of MERS. with power o~' sale. thc Iblh,xki,g dc<cribed pr,.,pcrl~ h-,calcd in Ihe COUNTY o1: B[NCODN : ['1 ypc o1' Rccordh~g .lurisdicli,m] J Xmnc .1' I{co,rding .luri.dicli.ml Begal description ~tEached hereto and made a part hereoE Parcel ID Number: 21161330302000 ~hich cur,'cnIIv ha< Ih¢ address 102 MICA STREET , KEMMERER I}'i~:,'J . \V.vt'lllillg 83101 [.zip( ("Properly Address"): TOGE-FHER WITH all tire imprc,,,:cmenls nou or hc.'cal'lcr creeled on thc propcrt.x, and all easements, appurtenances, and fixtures now or hereafter a part of lhe property. All replacements addilions shall also be covered by this Security I,strument. All t,l' Ihc Ibregoiug is roi'erred lo in this Security Instrument as the "Property." Borrower tmclerstauds and agrees that MERS holds only legal lille lo the i'nterests gra.led by Borroxver in this Securily Instrument. bul. il' ,]ecessarv to cc,,nlqy xvilh laxx or custom. MERS (as nominee for Lender and Lender's successors and assigns) has tire right: to exercise any or all of those interests, including, but not limited to. Ihe right Io I'm'eclose and sell thc Property: alld It, take any actio, required Of Lender including, but not limited to. releasing and canceling Ihis Security [irStl'tlllrellt. BORROWER COVENANTS thai Borroxver is laxx fully scised o1' Ih¢ estate hcrcbx truax'ex'ed alld has the ,'ight to mortgage, g,'ant a,d convey Ihe Properly and ti]at the Property is mw,ct.,bcrcd, except encumbrances of record. Borrower xvar~anls aud will defend generally Iht title to thc }~r,~pcrty agai,st all claims and demands, subject to any e,cumbrances of record. THIS SECURITY INSTRUMENT combines tmifonn cove,a,ls lbr national use aml non-uniform covenants with liu~ited variations by .jurisdiction to constitute a tmilbrm scctH'ily i.strume,~l covering real property. MI \\'Y77711 I O.~ II4 I-t)44107-f~ /Il I 9O3 UNIFORM COVENANTS. Borrower and Leuder'cox chant and a?-cc as I'olhm's: 1. Payment of Principal, Interest, Eseron' Items, Prepayment (harges, and l~ate Charges. Borrower shall pay when due tile principal ot~ anti interest on. the debt evidenced lax ~l~e No~c and any p,'epayment charges and late charges due under the Note. Borrower sllall also pay ]~mcls I~,r ESCl'.m Ilcms pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in CkS. currency. However. if any check or other instrtiment receix ed by Lender as payment under the Note or lhis Security Instrument is returned to Lender unpaid. Lender may require Ihal any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the lk-dloxvmg ik-,-ms. selected by Lender: (a) cash: (b) money order: (c) cerlified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an insliluliOn whose deposits are insured by I~deral agency, instrumentality, or enlity: or (d) Electronic Funds Tr:mslkq'. Payments are deemed received by Lender'when received at Iht Iocalion designated in thc Nolo or al such other location as may be designated by Lender in accordance with thc notice prt~visions in ~cction 15. Lender may return any paymenl or partial paymenl it' Ibc paymcm or pm'lia[ payments m-c itlsul'lScicnl bring the Loan currenl. Lender may accept any payment or partiul payment ins, l'lScient lc, bring thc I current, without waiver of any rights hereunder or prejudice lo ils rights to rclilsc such l~:t)'lllClll )1- partial payments in lhe lk~ture, but Lender is not obligated io apply such payments at the time such payme~llq arc accepted. If each Periodic Payment is applied as of its scheduled duc date. then l.cndcr need not pay interest on tmapplied fimds. Lender may hold such unapplied fimcls until Borroxvcr makes payment tt, bring the Loan current. If Borrower does not do so within a reasonable period of lime. Lender shall either apply such fimds or return diem to Borrower. If not applied earlier, such l~uncls will be applied t ~ Illc outstanding principal balance under ll~e Note immediately prior to tbreclosure. No off,el or claim which Borroxvcr might have now or in the lhture againsl Lender shall relieve Borroxvcr fi'om makin~ pa3 merits dk~c under the Note and this Security Instrument or perl~rming the covenants ;tnd agreements secured by lifts Instrument. 2. Application of Payments or Proceeds. Except as olhcrwise described in this ~cc~itm 2_ all payments accepted and applied by Lender shall be applied in ll~e Ibllowing order of priority: fa) inlcrcst due under the Note; (b) principal due under the Note: (c) amounts due under Section ~ Such paymenls shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any odler amounts due under dfis Security Insmm~ent. and then to reduce the principal balance of the Note. If Lender receives a payment fi'om Borrower lbr a delinquent Periocic Payment which includes sufficient amount to pay any late charge due. tl~e payment may be applied to the delinqucm payment and the late charoe If more than one Periodic Payment is otttslandina. Lender may apply mix' payment received l¥om Borrower to the repayment of the Periodic Pnyments il'. and to the exlenl that. each payment can be paid in fidl. To the extent that any excess exists after the payment ix applied ~o the Ikdl pzlymcnl of one or more Periodic ?ayll~ents. such excess may be applied lo any lale charges title. X'ohmtary prepayments shall be applied first ~o any prepayment charges and d~en as described in tl~c Nolo. Any application of payments, insurance proceeds, or Mis<ell;metros Proceeds ~ principal duc the Note shall not extend or postpone the due dale. or change Ibc amount, ol'thc Perle, die 3. Funds for Escrow Items. Borrower shall pay to Lender on Ibc day Periodic [~kt3nlcllts arc duc under the Note. until the Note is paid in full, a sum (the "Funds"} to prox idc Ik~t' payment t,l" amounts due tbr: (a) taxes and assessments and od~er items which cnn nttain priorily over II~is ~ecuritv Instrument ns lien or encumbrance on the Property: (b) leasehold payments or ground rems on the Property. if any: premiums fk~l' any and all insurance required by Lender unde~ Scclitm 5: and rd} N. Iortgagc Insurance premiums, if any. or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance pretniums in accordance with the provisions of Section 10. These tieing arc called "[[scrcxv Ire ns.' Al origination or at any time during the term of the Loan. I..ender ma5 reqttirc that Ctm~mtmitx' Association Dues. Fees. and Assessments. it' any. be csct-oxvcd by Borrtm'cr. a~d sucli dues. Ik'cs and assessments shall be an E~croyv Item. Borrower shall promp~l5 Iku'nish to I_cntlcr all notices of amtmnts be paid under lliis Section. Borrower shall pay Lender thc Funds fi',r.liscrow Itcm~ tmlcss I.cndcr waives Borrower's obliuation' to pay the Funds Ibr any or all ~scn.m' Items. I. ender may waixc Borrower's obligalion to pay to Lender Funds lbr any or all Escrow Items at any time. ,:knv such waiver may only be in writing. In the event of such waiver. Borrower shall pay directly, when and where payable, the alllOtlllls due l'Ol' al~y Escrow Items for which payment ol' Eunds has been xvaixed by Lc~clcr and. il' I.cnclcr rcquh'es. shall Iifrnish Io Eender receipls exidencing st[ch paFmcnl xviflfin such lime pcris,d as I.c~dcr m;~x t'CtltHl'C. Borroxvcr's obligation to make such paymenls a~d to i~roxiclc receipts sl~all I~r all l~Urpt~:c~ hc dccmcd be a covel~ant and agreement contained in Ihis SCCUl'il)' ll~sll'Un~cIH, a~ Iht lahrasc "ct,x ClllJlll tllld a?eemc,t" is u~ed in Section 9. If Borrower is obligated Io pay Escrow Items directlF. pttrsutHII lo a xvaRer, and Borrower Fails to pay the amount duc t~r an Escrow item. Lender maF exercise ils t'i~hls tmcler and pay such amounl and Bon'owe~: shall then be obligated under Section g lo repaF Io Lender any such amount. Lender m~y revoke the waiver as to any or all Escrow Items tH m~x' lime b)' a notice accordance with Section IS and. upon such revocation. Bon'oxxer shall paF to L. endcr all Fund~. and such amou~t~, that are then required under Ihis Sectiu~u ). Lender nla)', al any lime. collect and hold Ful]d~ ill all alnoLmt (a) sul'llcienl to pctmi~ I_.cncler lo appIb the Funds at the time specified under RESPA. and (b) not to exceed Iht maximtm~ amounl a Ice,der can require under RESPA. Lender shall eslimale Ihe amotml O1' Funds due on Iht basis ,~1' ct~rrc~H reasonable eslimales of expenditures o1' I~ture Escrow Items or ,Ihcm'isc ii~ acc~n_h.~cc wilh Applical~lc The Funds shall be held in an in~lilulios~ xvhosc clop,sits arc hlsurcd by a I~'dcral instrumentality, or enlily (i~cluding Lender. il' Lel~clcr is an i~lslilulion whose clcposils Lli'C st~ i,surccl) or any Federal Home Loan Bank. Lender shall apply Ihe Funds to pay Ihe Escrow Ilcms no later than the lime specified Unde'r RESPA. Lender shall uol charge Borrower tZ~s' holdm~ and applyin~ the Funds. am~uallv analyzi~g the escrow account, or veril?i~lg the Escrow Items. umless Eendcr pa)'s Bonoxvcr inleresl on ~l~e Funds and Applicable Law permits L. ender to make such a charge. Ulllcss Lii1 aFrccmcnt is made in xxritm~ or Applicable Law requires inlerest to be paid. on the Funds. Lender shall no~ bc required ~o pa)' any interesl or earnislgs o~ the Funds. Bon'oxxe and Lender can a~rec in xx'ritin,~, h,,xxexcr. ~hall be paid on the Funds. Lender shall give Io Borrower. xvilhoul charge, an annual :.icc~,tmlJtlg ~1' Euncls as required by RESPA. If Ihere is a SUll]lus oF Funds held in escrow, as dcfii~ccl unclcr RESP,.X. I cmlcr shall ~lCCt~LIIll lO Borrower t~r lhe excess funds in accorclm~ce with RESPA. 1F Iherc is a shorla~c ol' I:tmds held in cscmxx'. as defined under RESPA. Lender shall holily.' Borrower a'~ required by RESPA. a~d Bt,'msxcr shull paF h~ Lender lhe amount necessary to make up tl~e shortage in accordance with RESPA. bul in ~lo more Ihan 12 monlhly payments. If there is a deficiency oF Ftlnd~ I~eld in escroxv, as defined under RESPA. 1.cnder shall noti~, Borrower as required by RESPA. and Borroxver ~hall pay to I.ender the amou~lt necessary to mnke up the deficie~cy il~ accordance with RESPA. but in no more Iban 12 monddF pa) mcnls. Upon paymcm in l~fil of all sums secured by this Sccuril)' !nslrumc~l. Eendcr sl~all i)rompIIF to Borrower any Funds held bF Lender. 4. Cbnr~es~ Liens. Borrower shall pay all faxes, assessmcnl<, char~es. Iinc:¢. a~cl allribulable to the Properly which can allain priorily ox er II,is Security Inslrumcnl. Icaschtdd ?ound rents on the P~operly. il' anF. nl~d ConllllLmJl)' Associali~.,1 Dues. Eccs. and .XhsCSsI11cllls. ii'any. -Fo Ihe exlenl Ihal lhese ilems are Escrow Ilems. Bt~rowcr shall paF Ihcm il~ the ma,ncr pn,~ idcd m Borrower shall promptly discharge nnF lien which has priorilF over ll~is Sccurilx Islsli'umcnl Borrower: (a) a~t'ees in writin~ lo the paymenl of Ihe obligation secured bx Ihc lien i~ a manner aCCel~lablc to Lender, but o~dy so long as Borrower is perlbrming such agreemenl: (b) conlesls Jl~e lien in by. or defends against enforcement o1' the lien in. legal proceedings tvhich in I.e~cler's opmim~ operalc prexent the enlZ~rcement of the lie~ xvbile tho~e proceedings arc per,ding, bul os~l)' uiHil such proceedings are concluded: or (c) secures fi'om the bolder of the lien a~ agreement salisl)~ctot'F to l_ender the lien to this. Security Insts~u~e~t. If' I.el~dcr clclermi~es lhat a~) Darl o1' thc Propcrt): is subject to a lie, which cm~ altain i~riori(y over Ihis Securily lu~trumcnt. Lender ma?' ~ive l)t~rroxver a i~,licc ide,lil~'in~ Iht i~II;\VV777111lI Hill ' 041-t144107-h I.'orlll )II.RI 1/111 gO5 lien. Within 10 days of the date oil which that notice is g~x'¢n. Bom)wet shall sali.~l'x thc lien or lake one o~ more of fl~e actions set forlh above in this Section 4 Lender may reqmre Borrower lo pay a one-time cha,'ee lbr a real estate mx x'cr~l]caliou and'or reporting service used by Lender in connectmn with this Loan. 5. Proper~ Insurance. Borrower shall keep the improvements noxx exism~e or hereage,' erected on the Property insured against loss by fire. hazards included within ll~e term "extended coverage." and any olher hazards including, but not limhed to.'earthquakes and floods. I~w which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and lbr the periods thai kender requires. What kender requires pursuanl ~o Ihe preceding semences can chaugc during the term of tile [.oan. Tile Jllfitlrflllce carrier providing the insurancc shall be choset/ by llori'owcr Stlb CCi IO [.clldor's right 1o disnpprove Borrower's choice..which right shall not be exercised um'eas,mabl>'. I_encler tony require Borrower lo pay, in com~eCliOn wilh Ihis Loan. eilher: (a)a onc-lhnc chlu'gc Ib~ t]ood zone delem~iunlion, certification and trncking services: or (b} n one-lime chill-ge Jbr I]ood zo~lc delcl'lnignliou mid certification services and subsequenl charges each lime remappings or similar changes oCCtlf which reasonably might afl, ct such determination or certification. Borrower shall also be responsible lbr the payment of any fees imposed by the Federal Emergency Managemem Agency in c~,nnection xvilh Ihe review 0fany flood zone cletem~ination resulting fi-om nn ot~jection by Borrower. If Borrower t~ s to maintnin any of the coverages described above, l.encler may obtain insurance coverage, at Lender's 'option and ~OlTower's expense. Lender is under ilo oblignlion to purchase any particulnr type or amount of coverage. Therefore. suc ~ cox'ernge shall cover Lender. but might or might uot protecl Borrower. Bon'ower's equity in the P'ope-ty o~' lhe conlenls of the Properly. agaiusi any risk. hnzard or liability and might provide greater or lesser cox'el'age than was previously in elfin'ct. I~orrower ncknowledges that the cosl of the insm'anse covernge so oblained mighl significaJ~fiy exceed Ihe cost t,l'j insurance that Borrower could have obtnined. Any amounts disbursed by L.emler under lifts 5eclitm 5 shall j become ndditional debt of Bon'ower secured by this Security Inslrumenl. These al)lOtlglS ~hall bear interest j at the Note rate fi'om the date of disbursement and shall be pnvnble, wilh such inleresl, tlpo~l nogce fi-omi Lender to Bon'ower requesting payment. ~ All insurance policies required by Lender and renexvnls of such policies shall be sub. je6t 1o I.ender's right to disapprove such policies, shall include a standard mortgage clause, and shall name l.encler ns mortgagee aud/or as an additional loss payee. Lender shall hax. e Ihe righl Io hold lhe policies nnd renewal certificates. If Lender requires, Bon'ower shall prolllplJy give to Lender all receipts of paid I)r,:mhmls and renewal notices. If Borrower obtnins nny I~am~ of insurance coverugc, not olherwisc required by I.cnder. Ibr damage ~o. or destruction o1~ the Property. such policy shall i~cludc a slluldal'd moggagc cJtltlse and shall name l_ender as mortgagee and. or as an addilionnl loss payee. In lhe evenl of loss. Borrower shal.I give prompt notice lo lh¢ insurance carrier Llgd I.'clldcl'. l_e~der may mnke proof of loss if not made promptly by Borrower. Unless l.ender and }~orro~vcr ,,Ihcrxvisc agree in writing, any insurm~ce proceeds, whether or not the tmderlyiug insurance was required by Lender. shall be applied to restoration or repair of the Property. if the restoration or repair is ecomm~ica y I~nsible and Lender's security is not lessened. During such repnir and restoration period, l_euder shall hax e the righ~ ~o hold such insurance proceeds until l_ender has had an opportunity to inspect such Propcrlb lo ensure lhe work has been compleled I'o Lender's satist~cfion, proxided thai such inspection slmll be tmdegaken promptly. Lender tony disburse proceeds lbr the repnirs and resmra6on in a single pnymenl ~' in a series of progress pay a~ems as the work is Completed..U fless an agreemenl is made in writing oJ' Applicable l.axv requiJ'es inlerest to'be paid on Such insurance proceeds Leander shall got be required to pay llorrower ally interest or enmings on such proceeds. Fees Ibr pt blic ad. juslers, or olher IhJrd pm'lies, relained by Borrower shall no:t be paid oul of'the insurance proceeds nnd shall be the sole obligamm ,4' Borrower. If the restoration or repnir is not economicnlly tbasible or Lender's securily would be lessened, the insurance proceeds, shall be applied to the sums secured by this Security Instrument. whelher or ilol Ihell due. wilh NII-:WY7770 ( J I,'0l)) : 041-()4'4107-6 I,,,d:d- ~ thc ~x¢~ss. il' an),. paid Io Borrmv~r. Such insunmce pn~c¢cds shall bc iq~plied in Ih~ t,r(Icr P '~wi(cd li,r Section 2. Ii' Borrower ~b~nclons the Prope't),. Lender m~).' Iilc. IlC~L~IJtIIC Jllltl SCIIIc illl~ ~X'~iltll~Ic insurmlcc claim mid rdalcd illall~l'~. It' Borrower do~s not respond xvJlhJn 3L) du)'s IL, ~1 m~licc I'I'LllII L.cndcr lilLII IIIc in~urm~c~ can'i~r l]as ol'[ered to sell,lo a claim, li~cn Lender may n~olJal~ mid s~lll~ Ibc cbim. Thc period will b~in whm~ llie notice' is ~iv~n. In cilll~l' cv~llJ, o1' ir Lender 8CCILIJl-C~ Ibc Properb' tinder ScclJoll ~] or othe~avisc. Borrower hcrcb), assigns lo Lender (a) Bo"~xvc"s ri~hls Io an)' proceeds i~ an at11OLIlll I1Oi lO ~XCRR(I li~e amou ~IS unpaid LIIlcIRr lll~ Nolo or lhb SCCLU'il)' hlsJl'UII1RIll, all(I (b) any other o1' Bn'rowc"s rights' (olhm' lilan lh¢ ri~ht Io any rcl~llld ol' tlllcarned I~rcnlJLImS paid by Borl'owcr) tHldcr ail insurance policies covCrin~ Iht P~op¢rl).'. insofar as such rights m'c tH~plicublc covm'~¢ oF linc Prop¢rl)'. Lender ma),' u~e thc JllSLII'allC~ proceeds cilhcr to repair or rcsh~rc Ibc lh'upCrl)' lo p~)' 8111OLIIllS unpaid Ulld~r Ibc Nol'e or this SccLIril)' lnslrumcnl, x~ hclhcr or m.~l then duc. ~. O~lll}~llC).'. Bon'ow~r slmll occuI)~', eslablbh, and usc the Jh'opcrl)' ~ls J~t~rl'~,WL'l"S princilml residence wilhin 60 da),s after the execulion o[ lhis SccurJl).' JllSlrunlcnl ansi shall conlJnuc lo occup)' thc Property as Borrower's principal residence For al leasl one ~ear al'let thc dt~lc o1' oCCtlp~lnc)'. LlnJcs~ olhm'wise a~rees in writin8, which cOI1SRIll shall not be tllll'~sonal~l): wilhh¢ld, or tlnl~s~ cJt'ctllltSlallCCS exisl which are bc~m~d Borrower's collh-oJ. ?. Presers'nliem~ Mninlelmuce ~nd Proleclion or lhe Properb'; l~peclJolls. Bt~rt'oxvcr shall not dcslroy, dmlla~e or inlp~ii' Ibc Properb'. ~llow Ih¢ Propcrl); Io dcleri~,re~lc or cure,iii xvt, sic on Iht Properb,. YVhclher or i~ot Borrower i~ resiclin~ in lhe Propcrt)'. Bor,'oxvcr shall mnin~in ~h¢ Pmpc'b' order Io prevent the Propert)' fi'om cletcrioraling or dccretlsin,2 in v~lu¢ due Io ils condilhm. L.Inlcss il delta'mined pursumll Io Scclion 5 Ilml ,'cpt~ir ~,r rcslor~llion is nol cc(,mm~ictdl).' I'cusil~lc. I~m'x,wcr promplJ)' repair Ibc Properl)' il' cbm~cd I~ avoid I~u'ih~r dclcriorulion 0r [1;1111~1~c. I1' insurmlcc condemnalion protects m'e p~id i~ cemncclion wilh dm~a~e Io. or Ibc h~klng (d'. lilt Pr~,l)c,'l)'. shull be responsible for rept~irin~ t~r rcsh)rill~ Ih¢ PropcrlF' only if I.cndcr h~ rclctlscd pr,~cccds I~,r ~uch pt rpo~es Lender m~v. clisburs¢ proceeds IL*r Ibc rept~irs m~d l'cslortllitm iu a single I~ )' ~c ~1 ,,r in t~ sc~. progress p~ymellts'a~ the work is completed. Ir the insurm~ce or condcmn~lion pt'occcds m'e not sul'licienl to repair or reslore Ibc Properly, Borrower is not relieved o1' Borrtm'cr's obligation l~r Iht completion or such repair or restot'~lion. Lender or its a~ent m~y m~ke re~sonable enlrics upon m~d inspeclion~ of Iht P',~pcrb'. I1' il reasonable cause. Lender m~y inspecl thc inlerior of lh¢ impro~cmcnls on lhe Properly. l..cndcr shtdl Bon'owcr nolice ~I lite Jime of or prior to such on imerior inspec[ion spccil'?~ such reas,.milbJ¢ 8. Borrms'er's bml,i Apl~lic:ition. Borrower shall bc in dclt~ulI il'. durin~ Ibc luLn process. 'Borrower o,' m~y persons or enlilies aclin~ ul the dircclion o1' J]or(owcr ~' with Bt~rl't~x','cr's knowledge or consenl gave maleriall), l;qlse, mJsJea(lin,~, or in~ccur~llc inl),l'muli(,n or shllcn~cllls h) Lender (m- l)~iled Io p-ovide. Lender wilh maleri~l inlt~rm~lion) in connccli~,n with Ibc I..~mn. ~']ulcriuJ rcprcsenlnlions include, but m'¢ not limited to. rcpr¢~¢ntation~ conccrnin~ J]ol'rt~cr's ~,cct j~t~ ~c)' el' thc Proper'b' ~s Bon'ower's pri~tcip~l 9. Prolection of Decoder's ]nleresl h~ Ihe Properb' n~l ~i~hls Lt~der Ihis Securib' Insh'ume~t. (~) Borrower f~ils to pcrrom~ Ibc covenm~Is ~nd ~reemcnl~ contained in this Sccurib' Inslrumcnl. (b) is ~ le~l procecclin~ Ih~l might si~nificm~lly ~fl~cl Lcndet"s inler¢~l in Ibc l)ropcrt~' m~d or rights under Ihis Sccuril~ Jn~ll~m~enl (such ~s ~ I)roceedin~ in bm~kruplc)', probal¢, t~r condemimlion or l~rl)ih,'¢. ¢nl~rcemenl of ~ lien which m~]~' ~tl~in prim'il)' re'er this Sccurib' In~lrumcnt or h~ cnlk~rcc I~ws or regulations), or (c) Bon'owcr ha~ obondoncd Ibc Prt~pcrl)'. Ihm~ l.¢nclcr m~)' do m~d I)~) l~r ~vJi~llcxcr reasonable or ~l~proprialc lo prol¢cl I.cndcr's inlcrcsl in Ih( Ph',pcrl')' m~d ri~hl~ under this Scctu'il~ In~h-umcnt. includin~ p'oleclin~ ~nd"or ~essin~ Ih¢ v~luc o1' Ihs' I'n.,pcrl)'. m~d sccurin~ m~d t~' rCl)~irin~ Ibc Prol)Crl)'. Lc ~d¢"s ~ctions c~n inclucl¢, bul ~r¢ nol iimiled Io: (~ I I~yin~ uny sums <ccui'c~ hv ~ licn which h~s prl.oril~ over Ihb Sccuril).' Jn~lrumcl~l: (b) eq~pcarin~ in c~;url: trod (~) pu:,~in~ i'ctl~onubJc MI.'W¥7771I ( I I 'Il{l) .' (141-944 I(17LO altomeys' fee,~ to protect its interest i~q the Properly and'or 'ighls tmdc~ Lifts Scctu'itx II)Mt'tlI'HcIH. including its secured position in a bankruptcy proceeding. Securing Ihe I'roperb' includes, but i~ not limited entering the Property [o make repairs, change locks, replace or board up doors and x~ indows, drain water fi'om pipes, eliminate building or other code violation~ or danuerou~ condilion~, and hax e uHlitie~ turned on or oft~ Although Lender may take action under this Section 9. Lender does not have Io do so and is not under any duty or obligation to do so. It is agreed that Lender incurs nu liability fi,r not laking afiv or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become addilional debt of Borrower secured by this Security lnStlxmlent. These amounts shall bear inlcrcsl al tl~e Nole talc from Ihe date disbursement and shall be payable, with such imm-esl, upon notice fi'om l.ender Io ~orroxver requeslJng paymem. If this Security h~s/rument is on a leasehold, Bon'ower shall comply xvilh all Ihe provisions of Ihe lease. If Bon'ower acquires lbe title to the Property. the leasehold ami the Ibe tille shall m~l merge unless Lender agrees to lhe merger in wrilmg. 10. Mortgage lnsm'anee. If Lender required Mortgage lnsurnnce as a condition of making Ihe loan. Bon'ower shall pay the premiums required to maintain the Mortgage Insurance m eflkcl, lf. Ibr any reason. the Mortghge Insurance coverage required by Lender ceases to be available fi-om fi~e morlgage insurer H~al previously provided such insurnnce and Bon-ower was required lo make separately designaled payments lownrd the i2remiums tbr Morlgage Insurance. Borrower shall pay the premiums required Io oblain coverage substantially equivalent to the Mortgage Insurance previously in eflbct, at a cost subslauliallv equivalent io the cost to Borrower of the Mortgage Insurance previously in eflk-ct. I~'om an allernale mortgage insurer selecled by Lender. If substantially equivalenl NIorlgage Insurance coxerage is available. Bon'ower shall continue Io pay to Lender the amounl of the separalely designated payments Ihat were due when the insurance coverag~ ceased to be in eflbcl. I.endcr xx'ill accepl, usc and relam Ihcsc payments a~ n non-refimdable loss reserve in lieu of Morlgage Insurance. Such loss rescrxe shall be non-refundable, nolwilhstanding the fi~ct thai the Loan is tllli~llalel) paid in Ihll. alld Lender shall nol bc required to pay Bon'ower any interest or earnings on such loss reserve. Lender Can no longer require loss reserve payments if Mortgage Insurance covernge (in the amounl nnd Ibr Ihe period Ihat l_ender requh'es) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums tbr Mortgage Insm'ance. If Lender required Morlgagc Insurance as a condition of making the Loan and Bon-ower xxns required to make separalely designaled payments toward the premiums lbr Mortgage Insurance. Bon'ower shall pay Ihe premiums required to maintain Mortgage Insurance in eftbct, or to provide a non-refundable loss reserve, until l.ender's requirement tk~r Mortgage Insurance ends in accordance wilh any wrillcn agrcemenl belxxcen l~orrowcr and Lender providing tbr such tenninntion or until termination is required by ,'kpplicable 1.au. Nothing in this Section l0 affects Bon'oxver's obligation to pay interest al lhe tale provided in lhe Note. Mortgage Insurance reimburses Lender (or any emily thai purdmscs lhe Note) Ibr cerlain losses may incur if Bon'ower does nol repay lhe Loan ~s n~r~ed. Bon'oxxer is not a partx lo Ihe Morlua2e~ J IlStll'allce. ' ~ Morlgage ills~rers evaluate their total risk on all such illstlrallce in I~rce Ii-om lime to [inJe. and enter into agreements with other pm-ties that share or modi~' their risk..or reduce losses. These agreementsJ are on terms and conditions that are satisfhctory Io the morl~aEe insurer and lhe other pm'tx {or parties) to~ lhese agreemenls. These agreements may require the morlgage insurer Io make pa) me,ts ushlg any source of fimds thai the mortgage insurer may have available (~vhich may inchlde fimds obtainer I?om Mortgage Insurance premiums}. As n resull of these agreemenls, l_ender, any purchaser of Ihe Nole. am~lhcr m<m-c~, tlllX, reinsurer. any other entity, or nny affiliate of nny of fhe tbregoing, may receive (directly or imlirec~!>) amounts Ihal derive fi'om (or might be characterized as) n portion of Bon-owm"s paymenls lbr Morlgage Insurance. exchange fiw sharing or modit~:ing Hie mortgage inst,'er's risl<, ol' reducing losses. If such agreemcnl provides Ihat an aflSliate of Lender takes n share of the insurer's risk in exchange Ibr a share of thc premiums paid to 'lhe insurer, the an'angement is olien termed "caplive reinsurance." [:urlher: (a) Any such agreements will noJ affect the nmomils {hal Borro~ver has agreed to pay for Mortgage Insurnnce, or nny other lerms of lhe Lonn. Such agreements will not increase the Borrows'er will o~ve for Morlgage Insurnnee, nnd tlie)' will not entille Borro~ver Io any refund~ MI"WY777H ( I I.I)[l) 114 I-g441117-6 hfifial. 6A(~'~') l'lllllSl.lli P,lgt'xt'l'j5 l'o}'1113 Iql I./01 08 G q 2: gO8 (b) An)' Stlch :~greemenl's will not afl'ecl the rights B~rrmsur has - if' nnv- ssilh respect I'~ IhL' ~'lortga~e Insurance trader the Homemvners lh'otecti~,~ Act of 1998 or :in)' r~lher I:lsv. These rights sun? include the right to receive certain disclosures, to request ~(1 ol)l:lin c:lncelhilion ~lortg~ge lnsurnnce, to h~ve the ~.iorlgnge Insurnnce le,'minnted nulomnticnll), n~d/ur lo receive retired of ~n)' ~ortgage Insurance premiums thai ~ere unearned nt the lime of such c~mceilnlion or lermin~lion. 11. Assignmenl of ~liscellnneous Proceeds~ Forfeilure. All ~.liscellaneou~ Proceed~ are hereby assigned to and shall be paid to Lender. If the Property is dm]~aged, such ~iscelbneou~ Proceed~ shall be applied ~o restoration or repair of tl~e Property. if lhe restoration or repair is economicall)' l~adble and Lender's securib' i~ not lessened. During such repair and restol-alion period, t. cnder shall haxc the ri~hl to h~ld such k'li~cellal~COus Proceeds until Lender has had an opportunity to inspect such Properly lo ensure Ihe xvos'k has hccn complelcd h~ Lender's satisl~ction, provided lhal such inspeclion shall be underlakcn prOml)llF. Lender may paF I~r repairs and restoration in a single disbursement or in a series of progress pa)'nicnl~ as Ihe work compleled. Unless an agreement is made in writing or Applicable I_.axx requires inlcrcsl I~, hc paid on such Miscellaneous Proceeds, Lender shall nol be reclui~ed lo pay Bormxxer an} inlercsl ur earnings on such Miscellaneous Proceeds. If the restoration or repair is not economicall)' Ikasible or l.ender's security would be lessened, lhe Miscellaneous Proceeds shall be applied to the Stlll~$ secured b)' this SecuritF lnsJrumenl. xvhether or not then due. with the excess, if an),. paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided tbr in Section 2. In the event of a total taking, destruction. Or loss in value ,~1' the Pruperb'. Ihe Nliscellaneous Proceeds shall be applied to the sums secured by this Security Instrument. xvl~etl~er or nol then due. with Ihe excess, if any. paid Io Borrower. In lhe evenl of a partial lakin~, cleslrt~ction, or loss in value o1' Ihe I~mpct'l)~ in v. hich the I~iir markel value o1' Ihe Property immediatel): befi:,re the parlial laking, deslruction, or loss in xaluc is equal lc, or ~realer Ihan the amount of the sums secured b)' Ihis Sect, rit): Indrumcnl immcdialclv bcl~rc Iht pm'lial taking, destruction, or loss in value, unless Bon'ower and l_endcr t~lJtel'XX isc a?'ec in xxs'ilin~, thc sums secured by Ihi~ Securily Instrument shall be reduced bv Ihe amotml o1' Iht N'li~cclhmct,us Pn~cccLIs mulliplied' by the fi)llowing fi'action: (a) the Iolal amounl o1: Ihe SLIIIIS secured immediately bclYrc thc partial taking, destruction, or loss in value divided by (b) Ihe lbir market vah,e of the Properl)' immeclintely before the partial taking, destruction, or loss in value. An)' balance sl~all be paid Io Borroxx er. In the event of ~ partial taking, desh'uction, or loss in value of the Properly in which Ihe I:air markel value of the Property immedialely hell, re Ihe partial taking, desh'uclicm, or loss in xalue is less than Ihe amount of the sums secured immediately bel~re Ihe partial takifig, dcslruclion, or loss in value, unless Borrower and Lender otherwise agree in xvriling, the Miscellaneous Proceeds shall be applied to the sums secured bv Ihis Security lnsh'ument whelher or not the sums are Ihen due. 11: tl;e Property is abandoned by Borroxver, or if. al~er nolice by l.ender t~, l~orruxver Ihtll tl~e Opposing Parly (as defined in the ~ext senlence) ol'l~rs to make an axvard to settle a claim fi,r damages. Borrower t~ils to respond to Lender xvilhin 30 days after Ihe date Iht ndice is ~iven. I cntlcr is aulhc~rized Io collect and al)ply the Miscellaneous Proceeds either to restoration or repair o1' Iht I"ml~C,'l?' t,' Io Ihc sums secured by Ibis; Security Instrument. xvhelher or not Ihen due. "Opposin~ Parlx' means Iht Ihird Ihat owes BorroxYer Miscellaneous Proceeds or the party againsJ xxhom Borrower has a ,'i~l~ ul' actiun regard Io Miscellaneous Proceeds. Borrower shall be in det~ult if any ~ction or proceeding, xvhelher civil or criminal, is begun thai. Lender's judgment, could result in IYrl~i~ure or the PropertF or other malcrial impah'mcnl o1' l_.endcr's inleresl in the Property or rights under this Security h]strument. Borroxver can cure such a del~ittll and. il: acceleration has occurred, reinstate as provided in Section Ig. by causing lhe action t,r p,'oceedin~ to be dismissed xvilh a ruling that. in Lender's judgment, precludes t~rJ~ilure of the Properl)' ~l' olher material impairmenl of Lender's interesl in the Properl)' or ri~hls under Ihis Sccuril)' lnslrumcnl. Thc prt,ceccls o~x., award or claim tt~r damages that are atlributable to ll~e impairment ol' l.cnder's inlcrcsl in the I'h'opert): ar~ hereby assigned and shall be paid lo Lender. All Miscellaneous Proceeds that are not applied t~ resloralmn ,.~r rep;'~ir o1' Iht Vmpcrl? shall I~c applied in the order provided fi~r in %eclion 2. I',tFWY77711(114101 ' 1~41-g441l~7-¢', I.,t'n! .'gll51 I..'lll 909 12. B0rro~ver Not Released; ForbearanceB~ Ltmtler Not a \\'aiver. Extension of the lime pa) merit or modification of amortization oF the sttm~ secured by thi~ Security [ngtrmncnl grained bx I.ender to Borrower or any gtlccessor ill Interest of Borrower shall llOl opel-ale [o release the liability 01' I~orroxx'cr or any Successors in Interest o1: Borrower. Lender shall not be required to commence proceedings againsl any ~uccessor in Interest of Borrower or to refitse to extend time Ik, r paymcnl or othcrxvisc modilS' amortizalion o1' the StHBS secured by this Security blSl~'tHBCIH bv Feaso~l OI' tt~lx demand mttdc bx' thc original Borrower or any Successors in Interest of Borroxver. Any Ibrbearancc b5 I.ender in excrt'i*ing any right or remedy including, without limitation, Lender's acceptance of payments fi'om third persons, entilies Successors in Interest of Bon'ower or in amounts less than Ihe amount fl~en due. shall no~ be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liabili~'i Co-si~ners~ Successors and Assigns Bouml. Bon'oxver covenams and agrees that Borrower's obligations and liability slmlI be john and several. Ho~vever. any Borrower who co-signs this Security Instrumen~ bm does not execule fl~e Note ~a "co-signer"l: ~a) is co-signiug fids Security Instrument only to mortgage, grant and convey Ihe co-signer's imeres~ iu ~1~ P~operty uuder the terms of Ibis Security Instrument7 (b) is not personally obligated Io pay fl~e sums secured by fld~ ~ecm'ilv lnstrument~ and (c) agrees flint Lender and any other Borrower can agree ~o extend, m,,dilk', kM)ear or make any accommodations wifl~ regard ~o the'terms of lids Securily Inslrumenl tn' fl~c No~e xxifl~out ¢o-sig~er's Consent. Sutzject to the provisions ot~ section 18. any Successor in lnteresl of Borro~ver who assumes Borrower's obligations under this Security Instrumem in xvritin~, and is approved by I.ender. shall oblain all of Bon'ower~ rights and benefits under this Securily InstrumenL Bon'ower shall nol be released fi-om BorroweFs obligations and liability under this Securily Ins,-ument unless Lender agrees to such release writing. The covenants and agreements of this Security Insmm~ent shall bind ~excep~ as provided i~ Section 20~'and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower lkes lbr services perfinmed in cmmecfion xx'ith Borrowe'Fs dethulL lbr the puq~ose of protecting Lender's imerest in the Property nnd rights under this Security lnslrun~ent, including, but not limited ~o. auorneys' lbes. properly inspeclion a~d valuation Ibes. In regard lo any other l~es. the absence ol' express atnhority in lifts ~ecuri~x Inswumem ,, charge a specil~c lbe 1o Borrower shall not be consm~ed as a prohibition on fl~e chargin~ o[ such lbe. Lender may nol charge lkes thai are expressly prohibited by tills Securily Insmm~em or by Applicable I If fl~e Loan is subjec~ to a law which set~ maximum loan charges, and lhal law is I~nallv imerprelcd that fl~e interest or off,er loan charges collected or ~o be collected in ctmneclion wifl~ ~he I.oan exceed the permitted limits, then: (a} any such loan charge shall be reduced by lhe amoum necessary to reduce the charge to fl~e pemfitted limit~ and (b} any sums ah'eady collected fi-om Borrower which exceeded pertained limits will be refunded to Borrower. Lender may choose to make tl~is refund by reducing fl~e principal owed under the Note or by making a direct payment to Bon'ox~er. II~ a relkmd reduces principal. reduction will be treated as a partial prepayment without any prepaymen~ charge (M~efl~er or nol a prepayment charge is provided tbr under the Note). Borrower's acceptance of any such retired made by direct payment ~o Borrower will constitme a waiver of any righl o[ action Borrower raisin have arising oul of such overcharge. 15. Notices. All notices given by Borrower or Lender in com~ecfion wifl~ ~l~i~ ~ectn'ily mus~ be in wriling. Any notice to Borrower in connection with fids Security Instrumcm *hall be deemed have been given to Borrower when mailed by firs~ class mail or ~hen actually delivered 1o Borrower's notice address if seal by other means. Notice to any one Borrower ~hall conslitule notice lo all Borrowers unless Applicable Law expressly requires otherwise. The notice add'ress shall be ll~e Property Address. unless Bon'ower has designated a substitute notice address by nolice to Lender. Borrower shall promplly noti(y Lender of Bon-ower's change of address. If Lende~ s~ecifies a procedure Ibr repomng Borrower's cban~e of address, then Borrower shMI only repor~ a clmnge of address lhrougb lhal specified procedure. Ther~ may be only one designated notice address under tiffs Security Insmm~cm at any a'ne time. Any notice to Lender shall be given by delivering il or by mailin~ i~ by first class mail to l_ender's address stated herein un[ess Lender bas designated anofi~er address by notice to Borro~ver. Any muice com~ecfion with th{s Security Insn-umenl shall nol be deemed ~o l~ax e been ~iven lo Iender tmlil received by Lender. I[ any notice required by this ~ectn'i~y Insmm~cm is also required trader Applicable Law. the ~pplicable Law requiremenl will safiM~' the correspondin~ rcquiremenl tmdcr flfi~ ~ecurily MI.WY77711{IIO(}} . ~141-94410'7-6 hmi.,~.~ 16. Governing L~'w; SevernbililT; Rules of Construction, l'his Security ln~trumcnl shall bc ~overned by federal law and the law oI' Ihe .jurisdiction in which tl~e Property i~ Iocalcd. All rights and obligations contaiocd in this Sccu-ty Instrument are sub.jecl to a,y requiremenl~ and limitadon~ of Applicable Law. Applicable Law mighl explicidy or implicitly alloxx II~c parties to agree by contl'aCl or it might be ~ilent. but st, ch s e ice shall riel be construed ns a prohibition against agreemcm ~x' comracl. In the event thai any p,'ovi~ion or clause o1' Ihi~ Security~ I,~trumcnt or thc Nolo conllicl~ xxid, .kpp. c~ b c Laxv. such conflict shall lol al:l~cl other prov s o ~s ot' Ihis Securily Inslrumc'nl or thc Ntdc which can be ~iven efl~cl wilhout the conlliclin~ provision. As used in this Security lnstroment: (a) words o1' thc masculine ?rider shall mcan and include correspondi ~g neuter words or words o1' ll~e tkmi~fine gender: (b) w~,l'cls in Ibc si,?lar shall mean and include ll~e 1)lural and vice versa: and (c) ll~e word "may" ~ixes so e disc 'el ~ ~ wilhoul an} ol.?li?fitm take any action. 17. Borro~ver's Copy. Bon'ower shall be given one copy of the Nole and of this Security Insh'umcnt. 18. Trnnsfer of rise Properb' or a Beneficinl Interest i, I~orro-e,'. As used is~ this Se(lion "]nteresl in the Property" means any le?l or beneficial interest in Ihe Properly. includin,~, bul nol limiled to. those beneficial inlerests transt~,'red in a bond tbr deed. comracl tt~r deed. installmem sales comract or escrow agreement, Ihe intent ofxvhich is fl~e transfer of tide by Bom, x~cr al atk, lurc (late I,., a purchaser. If all or any part of the Properly or any Ioterest in the Property is sold or translL'rrcd (~r if is not a natural person and a beneficial interest in Borrower is sold or U'ansl~rred) without l. enclcr's prior writlen consent. Lender may require immediate paymc ~I in full ol' all sums secured b)' this ~cctu'it)' Instrument. However. this option shall not be exercised by l..cndcr il' such exercise is pr,hilaitcd by Applicable Law. If Lender exer: ses this option. Lender shall give Borrower m~tice el' accelcra~io~. 'l'hc ,oticc shall provide a period of not less than 30 clays fi'om the dale the notice is given in accorchmce ,ith Sc(don 15 within which Borroxver must pay all sums secured by this Security lnsu'ument. I1' Borrower lhils to pa~ these sums prior to the expiration of this period. Lender may invoke any remedies pe'nilted by this Security lnstrumenl without fiu'ther ~olice or demand on Bo,'roxxer. 19. Borro~¥e,"s Right to Reinstnte After Accelernfio,. Il' B,r'oxxer mee~s certain co~cliti~us. Borrower shall have tl~e right Io have entt)rcemcnt of this Securily Inslrument disc,)~tinucd at any. lime p' o' to the earliest of: (a) five days belbre sale o1' Ihe Ih-ope 'ly pursuant 1o any poxxer ul' sale conlaincd Ibis Security I,strument: (b) such other period a~ Applicable I..axv miihl specify lbr thc Icrmination Borrower's righl lo reinslate: or (c) enh-y of a .luclgmenl enlt)rcin~ ii, is Security InsU-umcnh Tl~ose conditions are Ihal Borrower: (a) pays Lender all sums xx'hich then would bc duc under lifts Inslrumenl and Ihe Note as if no acceleration had occurred: (b) cores any cicGull o1' any. tqhcr covc~mnts a~reeme~ds: (c) pays all expenses incurred in entt)rcing Ihis Security I,~n'umcnt. inch,(line, bul 11ol limited to. reasonable attorneys' tkes. property inspeclion' and valuation fees. a~cl oilier I~es incurred l~r the pt, pose of protectiog Lender's interest in the Property and rights under II,is SecuritF Insu'ument: and (d) takes such action as Lender may reasonably require to assure thai Lender's interest in the [)roperly and rights under this Security Instrument. m~d Borrower's obligalion Io pay the sums secured by this Sect r In~trumenl. shall continue unchanged. Lcoder may require thai Borroxver pay such reinsiutcment st ms expenses in one or more of the lbllowing lkarms, as selected by Lender: (a) cash: (bi money order: lc) certified check, bank check, treasurer's check or cashier's check, i~rovided any such check is ch'aw n an i.stitution whose deposits arc insured by a I~deral agency, insu'umenlality or emily:_ or (d) I.~lcclronic Funds Transtar. Upon reinstatement by Borrower. this Securily Insh'umenl and oblieafions secured her(by shall remain fiflly effective as if no acceleration had occur~cd. Hoxvcvcr. this righl I~ reinstate shall 11OI al)ply in ll~e case o1' acceleration under Section I~. ' 20. Snle of Note; Change of Lon, Servicer; Notice of Grievnnce. The Note or a partia illlcrcs[ the Note (together with tiffs Security Instrument) can be sold o,e or more limes xvilhc, u~ prior nolice Borrower. A sale might result in a chan~e in the entity (k,own as the "Loan Servicer") ~l~a~ co[Iccls Periodic Payments due under the Note and th s Security Inslrumenl and pertk)rms other mortgage loan servicin,g obligations under lhe Note, this'Security Insh'ument. and Apl) cable Lnw. There also might bc one or more changes of the Loan Servicer unrelated lo a sale of linc Note. I1' there is a chanle of the Loan Servicer. Borrower will be ~iven writte, notice of the chan~e which xx ill state the ,ame and address of new Loan Servicer. the address to which payments should be made and am' other int~,rmation RESPA 911 · requires in connection with a notice of ts-ansi'er of serviciug. If the Note is sold and thee-cai'let' the Loan is serviced by a Loan Servicer other than the purchase~- of the Note. Ihe mortgage loan se~:x icing obligations to Borrower will remain with the Loan Se~-vicer or be n'anst~n-ed to a successol- Loan Sela ice~- aud m-e not assumed by the Note pm'chaser unless othe~'wise provided by the Note ptu'chase~'. Neither Borrower nor Lender may.. commence..join, o~- be .J°ined to any..judicial action tax. eilhe,' an individual litigant or the member of a class) thai m'ises fi'om the olher pm't)"s actions ptn'stlant Io Ihis Secm-ity lnstnm~ent or that alleges that the other pm'fy has breached any pa' x'i<ion oi'. ~u' anx duty o~ved by reason ol~ this Seem'it)' Inslrumenl. until such Boa-owes' o~' Lemle'~' has notified thc other' fill'l>' {~k ilh such notice given in compliance wilh the requi~'e neats of Section 15) of such alleged breach nmi nflb~'ded Ihe other party hereto a rensonnble pe~-iod al~er Ihe gixing of such notice Io lake COl'l'eclixc nclitsn. If Applicable Law provides a time period which musl elapse belb~'e ce~'lain ac'lion can bc Iai(el1. I}lil{ lime period will be deemed to be reasonable tbr ptu~oses of this pa~'agraph. The notice of acceleration and opporlunity lo cure given to Borrower pm'sunni io Section 22 and tile notice of acceleration eiven Io ' Borrower ptn:suant to Section 18 shall be deemed to satisfy the notice and oppot'tunity to take con'eclix'e action provisions of this Section 20. 21. Hazardous Substnnces. As used in this Section 21' (aJ "llazn~-dous Substances" m-e those substances defined as toxic or hazardous substances, pollulants, or wastes b3 ~nx'il'o~lmc~llal I_.axv a~ld the lbllowing substances: gasoline, kerosene, other flammable o~' loxic petroleum pl'Oducls, toxic pesticides and herbicides, volatile solvents, materials conlaining asbeslos o~' Ibnnaldehvde. and ~'adioablivc male~'ials: (bi "Environmental Law" means tbderal laws and laws of lhe tn-iscliclion xx hes'e thc I)~'opc~-Iy is Iocalcd thai relate to health, sat~ty or environmental protection; {c) "Envi~'omnental Cleanup" includes nnv ~-esponse action, remedial action, or removal action, as defined in Envi~'onmentnl Law: and (d) an "lSnx'is'cmmental Condition" means a condition that can cause, contdbule Io. o~' otherwise n-igge~' an Envi~'onmentnl Cleanup. Bon'owe~- shall not cause or permit the presence, use. disposal, slo~'age, o~' ~'elease of ally l--lazat-dous Substallces. or lin-eaten to release any Hazardous Substnnces. on o~' in lhe P~'Ope~-l)'. Bon-oxxc~' shall not do. no~' allow anyone elge to do; anything at'l~cting the P~-ope~-ty (n) thai is in violation of a%' Enx'in.mmenlal [.nxx'. {b) which creates an Envi~'onmental ConditiOn. o~' (c) which_ duc lo Ihe p~-escncc, usc. o~- i'clease of a I.-lazat'dous Substance. creales a condition thai adversel3 afl~'cls the x aluc of thc Pt'opet~l)'. The p~'eceding two gentences shall not apply tO the presence, use. ol' $1Ol'aec oil Iht I)~'ope~'lv o1' smtdl quanlilics of Hazm-dous Substnnces flint are eenerally recognized Io be appt'op~'iatc lo nc, nnal ~esidenlial uses ami maintenance of the Propet'ty (including. but not limited to. hazn~'dous substances in consmner p~-oducts}. Bon-ower shall promptly give Lender xvdtten notice of (a) any inxestigation, claim, demlmd, lawsuit or other action by any govenm~ental or regulatory agency or p~'ivnte pm'fy inxolx'ing the Propc~'ty and any Hazardous Sub~lance or Environmenlal Law of which Bon-oxve~' has aclual km',xxledge, lb) any Enx.h-omnental Condition. including but not limited to. any spilling, leaking, dischm-,ae, s-elease o~- lin'eat of release of any Haza~-dous Substance. and (c} any condition caused b5' Ihe p~'escnce, usc o~' ~-eleasc o1: n l.lazm'dous Subslnnce which adxe~'sel3 nflbcls Ihe value of lhe P~'ope~'tx.. If Bon'oxxc~' tcin'ns, o~' is nolil~ed b)' ally goverlmlelltal or l-egulaloU' at tho' v o~' any p~-ivale pm-Ix, thai nnv ~emox ill o1' o{hol' ~'emedintiou ~ of any Hazardous Substance allotting the ~'ope~'tV is necessary. Bo~'~-oxvc~' shall p~'ompllv lake all remedial actions in accordance with [nxi~-onmenlal I_aw. Noflm~u hc~'cin shall c~-ealc ~mv obliualion kender tbs- an Enx~ironmental Cleanup. MI:\,V'Y77711111 001 1141-t1441117-{: hlil,a!, //~_/)/_/l/./~ ~)~-6.\(\\'Y).~,,,,:5~.',1 I'*.-,,. l-~ of Is ~'"~ Form 31151 I,'1)1 NON-UNIFORM COVENANI'S. Borrower and Lender I'urlhcr covcnanl and 'a?cc ;ss t'olhms: 22. Acceleraiion; Remedies. Lender shall give notice to Borrmver prior lo accele,',lion follon'ing Borrower's breach or any covenant or agreement in this Security instrumenl (hut not prior to acceleration under Section 18 unless Applicable Law provides ofl~erwise). The notice shall specify: (a) the default; (b)ll~e 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 defnull must be cured; nnd (d) that failure to cure the default on or before the date specified in the notice may resul{ in accelerntion of the stuns secured by this Securib' Instrument and sale of the ProperD'. The notice shall further inlm'm Borrm~er of the right to reinstate after acceleration and the righl to bring a com't action to asserl Ihe non-existence of a default or any other defense of Borron'er lo acceleration and sale. If the defaull is mn cured on or before the date specified in the notice, Lender at its option may require immediate paymcnl in full of all sums secured by Ihis Security Instrument ~vilhoul [tH'lher demand and may invokt' the po~xer of sale and any other remedies permitted by Applicable Law. l.cnder shall be cnlilled to collect expenses incurred in pursuing lhe remedies provided in lids Sccfiou 22, including, hul not limilcd reasonable attorneys' fees and costs oF title evidence. if Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borroner and to the person in possession of tike Property, if different, in accordance ~ith .kl~plicable Law. Lender shall give notice of the sale to Borrmver in the maturer provided in Section 15. Lender shall publish the notice of sale, and the Properb: shall be sold in lhe re:tuner prescribed by Al~l~licable Law. Lender or its designee may purchase the Properly at am' sale. The Proceeds of {he sale shall be applied in the following order: (a) to all expenses of thc sale, il]eluding. Iml m)t limited reasonable altorneys' fees; (b) to all sums secured by this Securib I[]slrmnent; and (c) any excess to the person or persons legally entitled Io it. 23. Release. Upon payment ol-all sums securecl by this Security lnslrumenl. Lender shall release this Security Instrument. Borrower shall pay any recordation cosls. Lender may charge Borroxvcr a I~e I~w releasing this Security Instrument. bul only iF the t~e is paid to a third parly I~r services rendered and Ihe charging o1: the lke is permitted under &pplicable Law. 24. Waivers. Borrower releases and waives all rights under and by xi~tuc o1' Ihe homestead j exelnpl~on laws of Wyoming. MI:WY777IIII I.IIIB ¢~41-9441U7-6 ~,,i,,.,I-~ {~k~6.\('~¥¥) ,...4 *l I';,gcl:ol'l? I.'orm31151 1/01 g13 BY SIGNING BELOW. Borrowel' accepls and agrees to ~,l~e terms and ctwenants contained in ti'tis Security h~sn-unlenl and in any Rider executed by Borro,a'eF and Fec(.n'dcd with I. \¥'itnesses: / R~E KNN KOMINSKY Seal) (Seal) ISeal} (Seal) ..... (Seal) - I { Oll'l (Seal) -IIorl'oV, el' (Stall MI:WY77711111 0(1) 041-94411)7-(, Pa'::'c 14 ,q' 15 I"[)rm 3a51 I/I)l STATE OF WYOMING, (~~~ Co~,nty ss: by ~E ~N KOMINSKY, ~ UNMARRIED WOM~ INCOLN ~ WYOMING ~ I.',)rln 3{151 I.qll Exhibit "A" A parcel of land located in Lot 4 and a portion of Lot 5, Block 1, of the Willow Addition to the City of Kemmerer, Lincoln County, Wyoming. Said parcel of land being more particularly described as follows: Beginning at the northwest corner of said Lot 4, Block 1; thence S85°22'00"E, a distance of 70.00 feet; thence S04°38'00"W, a distance of 70.00 feet; thence S85°22'00"E, a distance of 20.00 feet; thence S04°38'00"W, a distance of 70.00 feet; thence N85°22'00"W a distance of 90.00 feet; thence N04°38'00"E, a distance of 140.00 feet to the point of beginning