Loading...
HomeMy WebLinkAbout8972725"-'O- After recording please return to: LoanCity. ccva [Company Name] [Name of Natural Person] 5671 Santa Teresa Boulevard, Suite 100 [Stre et Address] San Jose, CA 95123 [CIO/, State Zip Code] RECEIVED LIN,?,OLN COUNTY CLERK 8 9 7 2 7 2 0r~ FSq. t3 r'r,~ t,: t, 2 [Space Above This Line For Recording Data] DEFINITIONS MORTGAGE MIN 100058310000019895 7 Words used in multiple sections of this document ,nrc dcfincd below and other words ,are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding tim usage of words used in tlfis document ,are also provided in Section 16. (A) "Security InstEmnent" means tiffs document, which is daled togetller with all Riders to tiffs document. February 13, 2004 (B) "Borrower" is SCOTI' C. LUSTY b2xlD AlqlTA M. LUSTY, HUSBAND AND WIFE Borrower is fl~e mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Regislration Systems, Inc. MERS is a separate corporation flint is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS ~s organized and existing m~der tim laws of Delaware, and has an address and telephone nmnber of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is LoanCity.ccm, a California Corporation Lenderisa California Boulevard, Suite 100, Loan No: W01738001 corporation Lender'sad&essis San Jose, CPs 95123 organized m~dexisting m~derfl~elawsof 5671 Santa Teresa Wyonfing Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT TIlE COMPLIANCE SOURCE, INC.-- Page I of 14 ...... ,,,, .............. I,Illlffill,~lllllllliill~lltllllli[It~lll[ MERS Modilqed Form 3051 01/01 14301wY 08/00 ~2000, The Compliance Source, Inc. (E) "Note" means the Promissory note signed by Borrower and dated February 13, 2004 The Note states that Borrower owes Lender one hundred 8evenly three thousand and NO/100ths Dollars (U.S. $ 173,000.00 ) plus interest. Borrower Ires promised to pay this debt iu regtilm' Periodic Payments ,'md to pa)' the debt in fifil not later than Ivlarch 1, 2034 (F) "Property" means the property that is described below Under the heading "Tr,'msfer of Rights in the Property." (G) "Loan" me,.mis the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Inslnunent, plus interest. (H) "Riders" means all Riders to this Security Instrmnent fllat are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [] Balloon Rider [] Plamled Unit Develop~nent Rider [] Biweekly Payment Rider [] 1-4 Family Rider [] Revocable Trust Rider [] Other(s) [specibq (I) "Ai)plicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances mid administrative niles and orders (that bare fl~e effect of law) as well as all applicable final, non-appealable judicial opinions. · (J) "Community Association Dues, Fees, and Assessments" lneans all dues, fees, assessments and other charges that are imposed on Borrower or file Property by a condominimn association, homeowuers association or similar orgmfization. (K) "Electronic Funds Transfer" means auy transfer of fimds, other than a transaction originated by check, draft, or similar paper instnunent, which is initiated fl~rougb an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or anthorize a financial instimfiou to debit or credit an account. Such term includes, but is not li~nited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated Clearinghouse transfers. (L) "Escrow Ite~ns" metals those items that are described in Section 3. (M) "Miscellaneous Proceeds" me,mis any compensalion, settlement, award of damages, or proceeds paid by any third party (other thmi insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, tbe Property; (ii) condeumation or other taking of all or ,may part of the Property; (iii) conveyance in lieu of coudemnation; or (ix,) nfisrepresentations of, or onfissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" metals insurance protectiug Lender against fl~e nonpayment of, or default on, the Loan. (O) "Periodic Payment" means die regularly scheduled amouut due for (i) principal and interest'under the Note, plus (ii) any amounts m~der Section 3 of tlfis Security Instrument. Loan No: W01738001 Wyomh~g Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT COMPLIANCE SOURCE, INC.-- Page 2 ofl4 MERS Modified Form 3051 01/01 14~tOl %V~ 08/00 ©2000, The Compliax ce Somce, Inc. (P) "RESPA" means fine Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. part 3500), as flNey might be amended from time to time, or any additional or successor legislation or regulation that governs the stone subject matter. As used in fids Security Instrument, "RESPA" refers to all requirements and restrictions tlmt ~e imposed h~ regmd to a "federally related mortgage loan" even if fine Lo,'m does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to tine Properly, wheflNer or not that party has assumed Borrower's obligations m~der the Note and/or tiffs Security Instnm~ent. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrmnent secures to Lender: (i) Ihe repayment of the Loan, mid all renewals, extensions and modifications of the Note; and (ii) fine performance of Borrower's covenm~ts and agreements under tlfis Security Instmlnent and file Note. For tiffs pm])ose, Borrower does hereby mortgage, grm~t and convey to MERS (solely as nominee for Lender and Lender's successors and assigus) and to the snccessors and assigns of MERS, with power of sale, the following described property located in fine County of LINCOLN [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LEGAL DESCRIPTION A2TACHED HERETO AND MADE A PART HEREOF. which currently has fine address of 2384 FA_I-RVIEM SPRING CRF~K ROAD 144 [Street] FB_IRVIEW , Wyonfing 83119 ("Property Address"): [City] /Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appm'tenauces, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by tlfis Security Instrmnent. All of the foregoing is referred to in tlfis Security Instrmnent as file "Property." Bon'ower understands and agrees flint MERS holds o~fly legal title to the interests granted by Borrower in fltis Security Instrument, but, if necessary to cmnply with law or custom, MERS (as nominee for Lender ~d Lender's successors and assigns) has fine right: to exercise any or all of those interests, including, but not linfited to, tim right to foreclose and sell fine Pi'operty; and to take tony action required of Lender including, but not linfited to, releasing and canceling tiffs Security Instrumeut. BORROWER COVENANTS that Borrower is lawfidly seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and flint tim Property is uueucumbered, except for encumbrances of record. Bon'ower warrants and will defend geuerally the title to the Propen3' against all claims and demands, subject to any encumbrances of record. Loan No: W01738001 Wyo.fi.g Mortgage-Single Family-Fannie Mae/Freddie l¥1ae UNIFORM INSTRUMENT --TIRE COM2VLIANCE SOURCE, INC.-- Page 3 of 14 MERS Modilicd Form 3051 01/01 14301WY 05100 I;'2000, The Compliance Source, Ine, THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unifonn security instrmnent covering real property. UNIFORM COVENANTS. BOrrower m~d Lender covenm~t m~d agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note m~d any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow hems pursuant to Section 3. Payments due under the Note and this Security Instrnn~ent shall be lnade in U.S. currency. However, if any Check or other instrmnent received by Lender as payment nnder the Note or this Security Instrmnent is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrmnent be made in one or more of the following for,ns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided an), such check is drawn upon m~ institution whose deposits are insured by a federal agency, instrmnentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender wllen received at the location designated in the Note or at silch other location as nmy be designated by Lender in accordance with file notice provisions in Section 15. Lender may return any payment or partial payment if the payment or lmrtial payments are insufficient to bring file Loan current. Lender may accept m~y payment or partial payment insufficient to bring the Loan current, wiflmut 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 paylnents at the time sncb payments are accepted. If each Periodic Payment is applied as of its scheduled due date, fllen Lender need not pa), interest on nnapplied funds. Lender may hold such unapplied funds tmtil Borrower nmkes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Leuder shall either apply such funds or return theln to Borrower. If not apPlied earlier, such funds will be applied to fl~e ontstauding principal balance under rile Note imniediately prior to foreclosure. No offset or claitn wlfich Borrower might have now or in tl!e future against Lender shall relieve Borrower from making payments due under the Note and tiffs Security Instrnment or perforating the covenants and agreements secured by this Secnrity Instrument. 2. Apl)lication of Payments m' Proceeds. Except as othenvise described in tiffs Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal dne under file Note; (c) amotmts due under Section 3. Such Payments shall be applied to each Periodic Payment in the order in which it became due. Any remai~fing amounts shall be applied first to late charges, second [0 ,any other alnounts dne under fills Security Instrmnent, and fllen to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amom~t to pay an), late cll~ge due, the payment maybe applied to the delinquent payment and file late charge. If more tllm~ one Periodic Payment is outstanding, Lender nmy apply any payment received froln Borrower to file repayment of the Periodic Payments if, and to the extent flint, each payment can be paid in full. To the extent that ,'my excess exists ~'ffter file payment is applied to file full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepaylnents shall be applied first to any prepayment charges and fl~en as described in file 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 ch~ge file amount, of the Periodic Payments. 3. Funds roi' Escrow Items. Borrower shall pay to Lender on file day Periodic Payments are due under fl~e Note, tmhl the Note is paid in full, a stun (fl~e "Fnnds") to provide for payment of amounts due for: (a) taxes and assessnients ,and ofl~er items which can attain priority over tlfis Security Instrmnent as a lien or encmnbr,'mce on the Property; (b) leasehold payments or ground rents on fl~e Property, if any; (c) premiums for ,any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance prenfimns, if ,tony, or any snms payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance With rile provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require flint Conm~m~ity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, Loan No: W01738001 ~Vyo,nh~g Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORAI INSTRUMENT MERS Modified Form 3051 01/01 --TItE CONIPL[ANCE SOURCE, INC.-- www.corapliancesour~¢.com Page 4 of 14 14301%',rY 08100 C'2000, Th,: Complia~ ce Somce, inc. mid such dues, fees and assessments shall be ,'m Escrow Item. Borrower shall prOmptly furnish to Lender all notices of amounts to be paid m~der this Section. Borrower shall pay Lender fl~e Ftmds for Escrow Items unless Lender waives Borrower's obligation to pay the Fmrds for ally or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. baly such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the an~ounts due for any Escrow Items for which payment of Funds has been xvaived by Lender m~d, if Lender requires, shall furnish to Lender receipts evidencing such payment wiflfin such time period as Lender may require. Borrower's obligation to make such payments ,m~d to provide receipts shall for all purposes be deemed to be a covenant ,m~d agreement contused in fids Security Insmunent, as the pltrase "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 Ore mnount due for an Escrow Item, Lender may exercise its fights m~der Section 9 and pay such anount and Borrower shall titan be obligated under Section 9 to repay to Lender ealy such amount. Lender may revoke Ore waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that me then required tinder flits Section 3. Lender may, at ,'my time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the tilne specified under RESPA, and (b) not to exceed the maximmn amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of fmure Escrow Items or oflmrwise in accordance with Applicable Law. The Funds shall be held in ,mi institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply tile Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Ftmds, mmually analyzing file escrow account, or verifying file Escrow Items, unless Lender pays Borrower hlterest on fire Fmlds and Applicable Law permits Lender to make such a ch~ge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on tile Funds, Lender shall not be required to pay Borrower any interest or eanfings on file Funds. Borrower and Lender can agree in writh~g, however, that interest shall be paid on file Funds. Lender shall give to Borrower, without cNm'ge, an mutual accounting of file Ftmds as reqnired by RESPA: If there is a surplus of Funds held in escrow, as defined uuder RESPA, Lender shall account to Borrower for the excess funds m accordance with RESPA. If fllere is a shortage of Funds held in escrow, as defined under RESPA, Leuder shall notify Borrower as required by RESPA,' and Borrower shall pay to Lender the amount necessary, to make up fire shortage in accordance wifl~ RESPA, but in no more fllan 12 monody payments. If fllere 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 necessary to make up the deficiency in accordance with RESPA, but in no more than 12 montlfly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrowe[ any Ftmds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments,' charges, fines, and impositions attributable to the Properly which call attain priority over this Security Instnunent, leasehold payments or ground rents on the Property, if any, and Commtmity Association Dues, Fees, and Assessments, if any. To tlle extem flint these items are Escrow Items, Borrower shall pay them in file maturer provided in Section 3. Bm'rower shall promptly dischurge any lien which has priority over tiffs. Security Instrument unless Borrower: (a) agrees in writing to fl~e payment of the obligation secnred by the lien in a rammer acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against e~iforcement of the lien in, legal pi:oceedings which in Lender's opinion 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 tim lien to this Security Iustmment. I; Lender determines fllat any part of the Property is subject to a lien which can attain priority over Otis Security Instrmuent, Lender may give Borrower a notice identifying file lien. Wiflfin 10 days of the date on which Loan No: W01738001 Wyonfing Mortgage-Single Family-Furore Nine/Freddie Mac UNIFOR~V[ INSTRUMENT --THE COMI'LIANCE SOURCE, INC.-- Page 5 of 14 MERS Modified Form 3051 01/01 14301wY o8100 1>2000, The Compliance $omce, Inc. fliat notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in cmmection wifll tiffs Loan. 5. Property Insurance. Borrower shall keep file improvements now existing or hereafter erected on file Property insured ag~nst loss by fire, hazards included wifliin file term "extended coverage," ,'md mi3, other hazards including, but not limited to, earthquakes mid floods, for which Lender reqmres insurance This insiLrance shall be m~ntained in the amounts (including deductible levels) and for file periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during file term of the Loan. The insurm~ce carrier providing the insurmice 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, in connection wifli tiffs Loan, either: (a) a one-time charge for flood zone deternfination, certification ~d tracking services; or Co) a one-time charge for flood zone determinan0n ,and certification services and subsequent charges each time remappings or si~nilar changes occur which reasonably might ,affect such deternfination or ce~:tification. Borrower shall also be responsible for file payment of any fees imposed by the Federal Emergency Management Agency in connection wifll file review of any flood zone deternfination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender lnay obtain insurmnce coverage, at Lender's option and Borrower's expense· Lender is trader no obligation to purchase any particular type or amount of coverage. Therefore, snch coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in file Property, or the contents of the Property, against an3, risk, hazard or liability and might provide greater or lesser coverage rum was previously in effect. Borrower acknowledges that file cost of the insurance coverage so obtained nfight significantly exceed the cost of insurance that Borrower could have obtained. Any amonnts disbursed by Lender under tlfis Section 5 shall become additional debt of Borrower secured by this Security Instnnnent. These amounts shall bern- interest at the Note rate from fl~e date of disbursement mid 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 stmidard mortgage clause, and shall nmne Lender as mortgagee and/or as an additional loss payee· Lender shall lmve file right to hold the policies mid renewal certificates· If Lender requires, Borrower shall promptly give to Lender all receipts of paid pre~niums and renewal notices. If Borrower obtains ,any form of insurance coverage, not othenvise required by Lender, for damage to, or destruction of, the Property, such policy shall include a stan&qrd mortgage clause ,and shall nmne Lender as mortgagee mid/or as an additional loss payee. In file event of loss, Borrower shall give prompt notice to the insurmice carrier and Lender· Lender may make proof of loss if not made promptly by Borrower. Unless Lender ,and Borrower otherwise agree in writing, any insurmice proceeds, whether or not file ~mderlying insurance was required by Lender, shall be applied to restoration or repmr .of tl3e 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 file right to hold such insurance 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 disburse proceeds for file repairs and restoration in a single paymeut or in a series of progress payments as file work is completed. Unless an agreement is made in writing or Applicable Law requires imerest to be paid on such insun'mce proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower slmll not be paid out of the insurance proceeds and shall be fl~e sole obligation of Borrower. If file restoration or repair is not economically feasible or Lender's security would be lessened, fl~e insurance proceeds shall be applied to the sums secured by this Security Instnnnent, wheflmr or not then due, wifli file excess, if ,'my, paid to Borrower. Such instLrance proceeds shall be applied in fl~e order provided for in Section 2. If Borrower abandons tl~e Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond witlfin 30 days to a notice from Lender that the insurance carrier has Loan No: W01738001 · Wyomi. g Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORA, I INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 6 of 14 MERS Modified Form 3051 01/01 moiwY 0s/00 02000. The Compliance Source. Inc. offered to settle a claim, then Lender may negotiate ,and settle fire 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 ofllem4se, Borrower hereby assigns to Lender (a) Borrower's rights to m~y insurance proceeds in mt mnount not to exceed the anmunts tmpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premimns paid by Borrower) under ,all insurance policies covering file Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repmr or restore fl~e Property or to pay amounts m~paid m~der the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, ,'md use file Property as Borrower's principal residence within 60 days after rte execution of this Security Instrument m~d shall continue to occupy the Property as Borrower's principal residence for at least one year ,'ffter the date of occupancy, unless Lender otherwise agrees in writing, wlfich consent shgl not be unreasonably witldleld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenauce and Protection of tile Property; Inspections. Borrower shall uot destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower ~s residing iu the Property, Borrower shall maintain the Properly in order to prevent rite Property from deteriorating or decreasing in value due to its condition. Unless it is detennh]ed pursuant to Section 5 fllat repair or restoration is not economically feasible, Borrower shall promptly repair tile Property if damaged to avoid further deterioratiou or dmnage. If insurance or coudenmatiou proceeds are paid in commction with dmnage to, or file taking of, the Property, Borrower shall be responsible for repaim~g or restoring file Property only if Lender has released proceeds for such purposes. Lender may disbnrse 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 condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for file completion of such repair or restoration. Lender or its agent may make reasonable entries upon mid inspections of tim Property. If it has reasonable cause, Lender may inspect tile interior of the improvements ou the Properly. Lender shall give Borrower notice at fire time of or prior 1o such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Applicatiou. Borrower sh~l be in default if, during fl~e Loan application process, Borrower or ,'my persons or entities acting at file direction of Bon'oxver or with Borrower's knowledge or cousent gave materially false, misleading, or ilmccurate information or statements to Lender (or failed to provide Lender with material ilfformation) in connection with rite Loan. Material representations include, but are not limited to, represenlations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's iuterest in the Property and Rights .Under this Security Instrument. If (a) Borrower fails to perform the covenants m~d agreements contained in tiffs Security Instrmnent, (b) fllere is a legal proceeding fl~at might significm~fly affect Lender's interest in the Property and/or rights under tiffs Security Instrument (such as a proceeding in bankruptcy, probate, for condenumtion or forfeiture, for enforcement of a lien which may attain priority over tiffs Security Instrument or to enforce laws or regtdations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable' or appropriate to protect Lender's interest in Ihe Property and rights under Ods Security Instrument, including protecting and/or assessing fl~e value of tim Property, and securiug and/or repairing file Property. Lender's actions can h~clude, but are not linfited to: (a) paying any stuns secured by a lien wlfich has priority over tiffs Security Instnunent; (b) appearing in court; and (c) paying reasonab!e attorneys' fees to protect its interest in file Property and/or rights under tiffs Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not linfited to, entering the Property to make rep,firs, change locks, replace or board up doors and windows, drain water from pipes, elinfinate building or ofl~er code violations or dangerous conditions, and have utilities lumed on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under tiffs Section 9. Loan No: W01738001 %¥yonfing ]Morlgage-Single Fanlily-Famde Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modified Fo~rm 3051 01/01 --TILE CO3fl'LIANCE SOURCE, INC.-- Page 7 o1'14 143111W~' 08100 {>2000, ]'he Compliauce Source, Any amounts disbursed by Lender trader fltis Section 9 shall become additional debt of Borrower secured by this Security Iustrmnent. These amotmts shall bear interest at the Note rate from the date of disbursement and sh,'fll be payable, with such interest, upon notice from Lender to Borrower requesting payment. If tlfis Security Instnunent is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insm'ance. If Lender required Mortgage Insurance as a condition of making file Loan, Borrower shall pay the premiums required to maintain file Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from tile mortgage insurer that previously provided such insurance and Borrower was required to Enake separately designated payments toward the prmniums for Mortgage Insurance, Borrower shall pay the premilmls required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to file cost to Borrower of the Mortgage Insurance previously in effect, from ,an alternate mortgage insurer selected by Lenderl If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refi~ndable loss reserve m lieu of Mortgage Insur,'mce. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be reqmred to pay Borrower any interest or eanfings on such loss reserve. Lender can no louger require loss reserve payments if Mortgage Insurance coverage (in the mnount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premimns for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan m~d Borrower was required to make separately designated payments toward the premimns for Mortgage Insurance, Borrower shall pay the premmms 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 termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in file 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 pm-ty to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties tlmt share or modify their risk, or reduce losses. These agreements are on terms ,'md conditions that are satisfactory to the mortgage insurer and the other p,-my (or parties) to these agreements. These agreements may require file mortgage insurer to make payments using ,'my source of fimds that file mortgage insurer ma), have available (wlfich may include funds obtaiued from Mortgage Insurance premmms). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, ,any other entity, or any affiliate of any of the £oregomg, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, m exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that mi affiliate of Lender takes a share of the insurer's risk in exch,'mge for a share of the prenfiums paid to file insurer, file arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or an3, other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insm'ance, and they will not entitle Borrower to any refund. (b) Any such agreements will n.ot affect the rights Borrower has - if any - with respect to the Mortgage Insm'ance 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 Mm-tgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance pre~niums that were unearn ed at the tim e of such cancellation m' termination. Loan No: W01738001 Wyomh~g Mor/llage-Single Family-Famfie Mae,rFreddie Mac UNIFORM INSTRUMENT THE COMPLIANCE SOURCE, INC. Page 8 of 14 I ~ MERS Modilied Form 3051 01/01 1/301WY 08100 02000. The Compliance Source. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Propei'ty, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair ,'md restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure file work has been completed to Lender's satisfaction, provided fllat such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. U~fless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender Shall not be required to pay Borrower any interest or earnings on such Miscellmmous 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 Instnunent, whether or not then due, with lhe 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 Instrtm[ent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in valu(of tile Property in which file fair inmket value of file Property immediately before tile partial taking, destruction, or loss in value is equal to or greater fllan the amolmt of tile sums secured by tiffs Security Instrtunent inunediately before tile p,-mial t~ing, destruction, or loss in vaiue, unless Borrower and Lender otherwise agree in Writing, the sums secured by this Security Instrmnent shall be reduced by the amom~t of the Miscellmmous Proceeds multiplied by tim following fraction: (a) file total mnount of fl~e sums secured immediately before tile paitial t,'fldng, destruction, or loss in value divided by (b) tile fair market value of tile Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In tile event of a partial taking, destruction, or loss in value of the Property in which file fair market value of file Property immediately before tile partial taking, destruction, or loss in value is less fl]an file amount of tile sums secured imlnediately before file partial taking, destruction, or loss in value, mdess Borrower and Lender othenvise agree in writing, tile Miscelh'meous Proceeds shall be applied to file stuns secured by this Security lustnmlent whether or not the stuns m'e then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower flint tim Opposing Party (as defined in file next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender witiffn 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to tile stuns secured by tiffs Security Instnnnent, whether or not fllen due. "Opposing Party" means file third party that owes Borrower Miscellaneous Proceeds or the party against :,vhom Borrower has a fight of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun rial, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in tile Property or rights under this Security lnstrmnent. Borrower cml cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing tile action or proceeding to be dismissed with a ruling that, iu Lender's judgment, precludes forfeitnre of tile Property or other material impairment of Lender's interest in tile Property or rights under tiffs Security Instnunent. The proceeds of any award or cl,%im for damages fllat are attributable to the impairu]ent 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 tile order provided for in Section 2. 12. Borrower Not Released; Fm'bearnnce By Lender Not n Waiver. E~ension of file time for payment or modification of amortization of the stuns secured by this Security Instnunent grm~ted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release file liability of Bon'ower or ,any Snccessors in Interest of Borrower. Lender shall not be required to commence proceedings against ,m~y Successor in Interest of Loan No: W01738001 Wyomh,g Mm~gage-Single Family-Fannie Mae/Freddie Mac UNIFORBI INSTRUMENT --THE COMI'LIANCE SOURCE, INC.-- Page 9 of 14 MERS Modified Form 3051 01/01 14301wY ~2000, The Compliance Somce, Inc. Borrower or to refuse to extend time for payment or othenvise modify amortization of file sums secured by this Security Instrument by reason of any demand made by the origimd Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising amy right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less thml the amotmt dieu due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co,signers; Successors and Assigns Bound. Borrower covenauts and agrees fllat Borrower's .obligations and liability shall be joint and several. However, ,'my Borrower who co-signs fids Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing fids Security Instrument only to mortgage, grant and convey the co-signer's interest in fl~e Property under fl~e terms of this Security Iustrument; Co) is not personally obligated to pay the sums secured by tiffs Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or m,~e any accommodations wifll regard to file terms of this SecUrity Instrument or the Note without fl~e co-signer's consent. Subject to tile provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under fltis Security Instnnnent in writing, ,'md is approved by Lender, shall obtain all of Borrower's rights and benefits under fltis Security Instrument. Borrower shall not be released from Borrower's obligations and liability under fids Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument sh,'fll bind (except as provided in Section 20) and benefit the successors and assigns of Lender. , 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for file purpose of protecting Lender's interest in the Property and rights under fids Security Instrument, including, but not limited to, att0meys' fees, property inspection and valuation fees. In regard to any. Other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on file charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and flint law is finally interpreted so flint file interest or ofl~er lom~ charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) ,'my such lo,m charge shall be reduced by the amount necessary to reduce the charge to the pernfitted linfit; and 00) any stuns already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make fids refund by reducing the principal owed under fl~e Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under fl~e Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have .arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in com~ection wifl~ tlfis Security Instrument slmll be deemed to have been given to BorroWer when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers 'unless Applicable Law expressly requires othem,ise. The notice address slufll be the Property Address nnless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall 0nly report a change of address through flint specified procedure. There may be only one designated notice address under tiffs Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated anofl~er address by notice to Borrower. Any notice in comlection with tkis Security Instrument shall not be deemed to have been given to Leuder tmtil actually received by Lender. If any notice required by this Security Instrmnent is also required under Applicable Law, the Applicable Law requirement will satisfy tile corresponding requirement under tiffs Security Instrument. 16. Governing Law; Severability; Rules of Construction. Tiffs Security Instrument shall be governed by federal law and file law of the jurisdiction in which the Property is located. All rights and obligations contained Loan No: W01738001 Wyonfing Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFOI~M INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 10 of 14 ...... .,, ............. I lllll lll llllll!ll ll lllll]llllt[l]llll MERS Modilied Form 3051 01/01 14301%~ 08/00 ©2000, The Compliance Source Inc. in tiffs Security Instnunent are subject to an), requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it nfight be silent, but such silence shall not be construed as a prohibition against agreetuent by contract. In file event Ihat m~y provision or clause of this Security Instrutuent or the Note cmfflicts with Applicable Law, such cmfflict shall not affect other provisions of this Security Inslrument or fl~e Note which can be given effect without the CtuLflicting provision. AS used in this Security Instrument: (a)words of the masculine gender shall mean and include corresponding neuter words or words of the femimne gender; (b) words in the singular shall mean and include fl~e plural and vice versa; and (c) the word "may" gives sole discretion without an), obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of riffs Security Instrument. 18. Transfer Of the Property or a Beneficial Interest in Borrower. As nsed in fids Sectiou 18, "Interest in rite Property" means any legal or beneficial interest in the Properly, including, but not limited to, those beneficial interests trausferred in a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, the intent of which is lhe transfer of title by Borrower at a fldure date to a purchaser. If all or any part of the Property or ,'my Interest in fl~e Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) withont Lender's prior written consent, Lender may require inunediate payment in fidl of all stuns secured by this Security Instrument. However, fids option shall not be exercised by Lender if such exercise is prohibiled by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within wlfich Borrower must pay all sums secured by this Security Instnunent. If Borrower fails to pa), these sums prior to the expiration of this period, Lender ma), invoke any remedies permitted by this Security Instnunent without furd~er notice or demand on Bo~Tower. 19. Borrower's Right to Relustate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Iustnunent discontinued at any time prior to the earliesl of: (a) five days before sale of the Property pursuant to any power of sale cont,'fined in tiffs security Instrmnent; (b) such other period as Applicable Law might specify for the temdnafion of Borrower's right to reinstate; or (c) entry of a judgment e~fforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender ,all sums which then would be doe uuder this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in e~fforcing this Security Instrmnent, including, but not linfited to, reasonable attorneys' fees, property inspection m~d valuation fees, and other fees incurred for the purpose of protecting Lender's interest in file Property and rights under this Security Instnunent; ,and (d) takes such action as Lender may reasonably require to assure timt Lender's interest in the Property and rights under tlfis Security Instnmmnt, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pa), such reinstatement stuns and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are instued by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon refl~statement by Borrower, this Security Instnunent and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, tlfis 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 fl~e Note (together wifl~ tlfis Security Iustmment) can be sold one or more times without prior notice to Borrower. A sale nfight result in a change in lhe entity (knowu as fl~e "Loan Servicer") flint collects Periodic Payments due under fl~e Note and fids Security Instrument and performs other mortgage loan servicing obligations under fl~e Note, Security Instrtunent, and Applicable Law. There also might be one or more changes of the Loan Servicer urn:elated to a sale of the Note. If fl~ere is a change of the Loan Servicer, Borrower will be given written notice of the change which will state tim name and adch'ess of the new Loan Servicer, tim address to which payments should be made and m~y other i~fformafiun RESPA requires in commction with a notice of transfer of servicing. If the Note is sold and flmreafter the Loan is serviced by a Loan Servicer other fl~an the purchaser of the Note, the mortgage loan servicing Loan No: W01738001 Wyoming Morfgage-Single Family-Famfie Mae/Freddie Mac UNIFOi~M hNSTRUMENT --TIIE COMPLIANCE SOURCE, INC.-- Page 11 of 14 MERS Modified Form 3051 01/01 14301WY 08/00 02000, The Compliance Source, [nc. obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assmned by the Note purchaser unless othenvise provided by the Note purchaser. Neither Borrower nor Lender ~nay commence, join, or be joined to any judicial action (as either an individual litigant or fl~e member of a class) that arises froln the other party's actions pursuant to this Security Instrument or flint alleges fl~at file other party has breached any provision o£, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender bas 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 ,'flier the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, fl~at time period will be demned 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 opportmfity to take corrective action provisions of this Section 20. 21. ttazardous Substances. As used in tiffs Section 21: (a) "Hazardous Substances" are fl~ose substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flan~mable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials contailfing asbestos or formaldeltyde, and radioactive materials; (b) "Enviromnental Law" means federal laws and laws of the jurisdiction where fl~e Property is located that relate to health, safety or environmental protection; (c)"Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; m~d (d) an "Environmental Condition" me,ms a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit fl~e presence, use, disposal, storage, or release of any Hazardous Substances, of threaten to release any Hazardous Substauces, on or m the Property. Borrower shall not do, nor allow anyone else to do, anything affecting fl~e Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, nsc, or release of a Hazardous Substance, creates a condition that adversely ,affects the value of the Property. The preceding two sentences shall not apply to fl~e presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to nomml residential uses and to maintenance of the Property (including, but not linfited to, hazardous substances in consumer products). Borrower shall promptly give Lender writteu notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Envirmm~ental Law of wlfich Borrower Ires aclual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or flu-eat of release of an), Hazm-dous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govermnental or regulatory authority, or any private party, that ,'my removal or other remediation of any Hazardons Substance ,affecting fl~e Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Enviromnenlal Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender fi~rther covenant and agree as follows: 22. Acceleration; Remedies; Lender shall give notice to Borrower prior to acceleration following Borrower's breacb of any covenant or agreement in this Security Instrument (but not prior to acceleratiou under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cm'e the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cra'ed; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the stuns secured by this Security Instnunent and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration aud tbe right to bring a court action to assert the uon-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cra'ed on or before tbe date specified in the notice, Lender at its Loan No: W01738001 . Wyoming Mortgage-Single Family-Fmmie Mae/Freddie Mac UNIFORAI INSTRUMENT --TILE COMPLIANCE SOURCE, INC.-- Page 12 o fl4 MERS Modified Form 3051 01/01 14301W¥ fl8/00 ~2000. The Compliance Source, lnc, ol)tion may require immediate payment in full of all sums secured by this Security Instrument without fm'ther demand and may in¥oke 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 thc manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in tile manuer prescribed by Applicable Law. Lender or its dcsigucc may purchase the Property at any sale. The proceeds of tile sale shall be applieO in the following order: (a) to all expenses of the sale, including, but not limited to, reasouablc attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured bv this Security Instrument, Lender shall release this Security Instrmnent. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing flfis Security Instnunent, but o~fly if the fee is paid to a flfird party for sen, ices rendered and the charging of the fee is pen]fitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights raider and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in fids Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: Printed Name: [P/ease Complete] Printed Name: ~ [Please Complete] ITA M. LUSTY . ~ -Borrower (Seal) -Borrower [Acknowledgment on Following Page] (Seal) Loan No: W01738001 Wyomb~g M[o~gage-Single Family-Famfie Mae/Fredt ie Mac UNIFOILM INSTRUMENT --Tltlg UOMI'LIA/~CE SOURCE, IMC. Page 13 of 14 MERS Modified Fornl 3051 01/01 14301w~' 08t00 ©2000, The Compliance Source, Inc. State of Wyoming ~ Connty of LinColn § Before me tile undersigned anthofi .fy, on this day personally appeared ANITA M. LUSTY SCOT1~ C. LUSTY and known to me (or proved to me through an identity card or oilier document) to be the person(s) whose nmne is subscribed to the foregoing insmm~ent, mid acknowledged to me that he/she/fl~ey executed the same for file purposes and consideration therein expressed. Given tmdermyhandandsealonthis 13th day of Cb3tary, 2004d ~ '~'~ r~ ~ (Sea~) f_t -, Notary Public L ~cx~t~m~rsm~tt · ~o~tav~t~uo My Conunission Expires: FEbruary 2 200~ Loan No: W01738001 Wyonflng Mo~gage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT TI{E COMPLIANCE SOURCE, INC.-- Page 14 of 14 ..... ,,, ...... ....... I lllllllllll lllllltl;lqllllllllllltlllWlllllfil ~dERS Modified Form 3051 01/01 14~0nvY 08/o0 ~20o0, The Compliance Soaree. Inc. LEGAL DESCRIPTION That part' of the NE~NW~ of Section 15, T31N Rll9W of the 6th P.M., Lincoln County, Wyoming being part of that tract of records in the Office of the Clerk of Lincoln County in Book 348PR on page 468, described as follows: BEGINNING at a point on the west line of said NE~NW~, S 00o01.7, W, 291.76 feet from the northwest corner of said NE~lqW~, found as described in the Corner Record filed in said Office; thence continuing S 00°01.7' W, 291.76 feet, along the west line of said NE~z~NW~, to the southwest point of said tract; thence S 89o58.6, E, 727.89 feet, along the south line of said tract to the southeast point thereof; thence N 00°01.4' E, 291.76 feet, along said east line, to a point; thence N 89°58.6' W, 727.84 feet to the POINT OF BEGINNING.